Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 977

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 977
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 our initial business combination and our liquidation, we were required to pay APX Sponsor or an affiliate
thereof up to $10,000 per month for office space, utilities, secretarial and administrative support services provided to members of our
management team and other expenses and obligations of APX Sponsor. In connection with the Sponsor Alliance, this agreement has been terminated.

In addition, our Sponsors, officers and directors,
or any of their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our
behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee
will review on a quarterly basis all payments that were made to our Sponsors, officers or directors, or our or their affiliates. Any
such payments prior to an initial business combination will be made from funds held outside the Trust Account. Other than quarterly audit
committee review of such reimbursements, we do not expect to have any additional controls in place governing our reimbursement payments
to our directors and officers for their out-of-pocket expenses incurred in connection with our activities on our behalf in connection
with identifying and consummating an initial business combination. Other than these payments and reimbursements, no compensation of any
kind, including finder’s and consulting fees, will be paid by the Company to the Sponsors, officers and directors, or any of their
respective affiliates, prior to completion of our initial business combination.

After the completion of our initial business
combination, directors or members of our management team who remain with us may be paid consulting or management fees from the combined
company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or
tender offer materials furnished to our shareholders in connection with a proposed initial business combination. We have not established
any limit on the amount of such fees that may be paid by the combined company to our directors or members of management. It is unlikely
the amount of such compensation will be known at the time of the proposed initial business combination, because the directors of the
post-combination business will be responsible for determining officer and director compensation. Any compensation to be paid to our officers
will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely
by independent directors or by a majority of the independent directors on our board of directors.

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT