Company: NPWR-WT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015450
Chunk: 31

Company: NET Power Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 31
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 support services upon receipt of work orders. Prior to the Constellation Master Services Agreement, Constellation provided certain services to the Company pursuant to the Contribution Agreement valued at $20 million. Pursuant to the terms of Constellation Master Services Agreement, Old Net Power incurred an aggregate expense of approximately $3.8 million to Constellation through December 31, 2024. Land Lease Agreement On March 8, 2024, a subsidiary of Net Power entered into an agreement with a subsidiary of Occidental Petroleum for the lease of a parcel of land in West Texas upon which Net Power intends to build a utility-scale power plant. The lease became effective on December 1, 2024. The lease has an initial term of 60 months from the commencement date and may be extended for up to three consecutive periods of ten years. Additionally, the lease contains an option to purchase the land during the lease term. During 2024, we paid approximately $2,700 in rent pursuant to the lease agreement. 29 Stockholders’ Agreement On June 8, 2023, as contemplated by the Business Combination Agreement, RONI, RONI OpCo, Buyer, Sponsor, the Principal Legacy Net Power Holders and BHES entered into the Stockholders’ Agreement. The Stockholders’ Agreement provides that, among other things, the Board will initially consist of 10 members and:

| • | the holders of a majority of the Common Stock held by OXY or its Permitted Transferees (as defined in the Stockholders’ Agreement) will have the right to                                                                         
 designate three director nominees for appointment or election to Board (the “OXY Directors” or each, an “OXY Director”); provided that (i) on the first date after the Closing Date that OXY, together with its Permitted         
 Transferees, fails to hold at least 25% of the issued and outstanding voting interests of the Company, the right of OXY to designate three director nominees shall cease, and the term of one then current OXY Director shall     
 thereupon automatically end, (ii) further, on the first date after the Closing Date that OXY, together with its Permitted Transferees, fails to hold at least 20% of the issued and outstanding voting interests of the Company,  
 the right of OXY to designate two OXY Directors shall cease, and the term of one then current OXY Director shall thereupon automatically end, and (iii) further, on the first