Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 522

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 522
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 free of certain types of foreign influence, neither the Proposed Certificate of Incorporation nor Proposed Bylaws contain corresponding restrictions on the directors that stockholders may elect in future elections held after the Closing.

For so long as the PlusAI Board is classified and subject to the rights of holders of the Post-Closing Company preferred stock, any director may be removed from office only for cause and only by the affirmative vote of the holders of a majority of the total voting power of all then-outstanding shares of the Post-Closing Company entitled to vote in the election of directors, voting as a single class.

In accordance with the Merger Agreement, the Sponsor designated to serve as a Class II director and to serve as a Class III director on the Post-Closing Company Board.

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Director Independence

Upon the Closing, our Board is expected to determine that each of the directors on the Post-Closing Company Board other than Mr. Liu and Mr. Zheng will qualify as an independent director, as defined under the rules of Nasdaq, and the Post-Closing Company Board will consist of a majority of “independent directors” as defined under the rules of the SEC and Nasdaq relating to director independence requirements. In addition, the Post-Closing Company will be subject to the rules of the SEC and Nasdaq relating to the membership, qualifications, and operations of the Post-Closing Company Compensation Committee and the PlusAI Audit Committee, as discussed below.

Role of the PlusAI Board in Risk Oversight/Risk Committee

Upon the Closing, one of the key functions of the PlusAI Board will be informed oversight of PlusAI’s risk management process. The PlusAI Board does not anticipate having a standing risk management committee, but rather anticipates administering this oversight function directly through the PlusAI Board as a whole, as well as through various standing committees of the PlusAI Board that address risks inherent in their respective areas of oversight. In particular, the PlusAI Board will be responsible for monitoring and assessing strategic risk exposure and the PlusAI Audit Committee will have the responsibility to consider and discuss PlusAI’s major financial risk exposures and exposures associated with cybersecurity, information security and privacy matters and the steps its management will take to monitor and control such exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken.

The PlusAI Audit Committee will also monitor compliance with legal and regulatory requirements. The PlusAI Compensation Committee will also assess and monitor whether PlusAI’s compensation plans, policies and programs comply with applicable legal and regulatory requirements.

Board