Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 693

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 693
---
 Chairman of the board of directors until September
22, 2023, has entered into a Consulting Agreement (the “Consulting Agreement”) with the Company, which became effective upon
the closing of the Business Combination. The Consulting Agreement provides that Mr. Heilbron will provide advisory and consulting services
from time to time to the Company until September 22, 2024. Pursuant to the terms of the Consulting Agreement, Mr. Heilbron is entitled
to rights as an observer to the Company’s board of directors. Mr. Heilbron is entitled to be paid $25,000 per calendar quarter
for his consulting services and is also entitled to a stock option to purchase the number of shares of Common Stock determined by dividing
(i) $300,000, by (ii) the per share Black-Scholes valuation as of the grant date, utilizing the same assumptions used in preparation
of the financial statements, with the resulting quotient rounded down to the nearest whole share. Mr. Heilbron was award stock options to purchase 30,000 shares of Common
Stock on December 1, 2023. As of December 31, 2024, and subsequent
agreement between the parties, the Company has paid Mr. Heilbron approximately $25,000 and granted Mr. Heilbron 6,900 shares of the Company’s
common stock.

Shareholder
Support Agreements

Concurrently
with the execution of the Merger Agreement, MURF, Old Conduit, and certain shareholders of Old Conduit (the “Old Conduit Shareholders”)
entered into a certain shareholder support agreement dated November 8, 2022, pursuant to which the Old Conduit Shareholders agreed to
vote all Old Conduit shares beneficially owned by them, including any additional shares of Old Conduit they acquire ownership of or the
power to vote, in favor of the Business Combination and related transactions. Under the support agreements, each Old Conduit Shareholder
also agreed that, prior to the termination of the applicable support agreement, such Old Conduit Shareholder would not transfer or otherwise
enter into any agreement or understanding with respect to a transfer relating to any shares of Old Conduit owned by such shareholder.
The support agreements automatically terminated on September 22, 2023.

Old
Conduit Shareholder Lockup Agreements

Under
the Merger Agreement, as a condition to receiving Common Stock of the Company after the closing of the Business Combination in respect
of their