Company: AIRJW
Filing Date: 2025-05-27
Form Type: POS AM
Source: 0001213900-25-047828
Chunk: 203

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-27
Form: POS AM
Chunk 203
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 useful inspections) of new production capacity of Legacy Montana’s
key components or See Note 12 - Fair Value Measurementsfor additional information on the Earnout Shares.

Upon the Closing of the Business Combination,
and following the conversion of the XPDB Class B common stock to Class A common stock, the sponsor of XPDB beneficially owned
shares of Class A common stock, of which (i) shares automatically vested (and shall not be subject to forfeiture)
at the Closing and (ii) shares (the “Subject Vesting Shares”) shall be vested and no longer be subject to forfeiture
as follows:

| ● | During the vesting period, a portion of the Subject Vesting                                                                           
 Shares shall vest, from time to time, simultaneously with any Earnout Shares, with the number of vesting shares calculated as (A) the 
 aggregate number of Subject Vesting Shares outstanding immediately after the Closing multiplied by (B) the fraction of (x) the        
 applicable Earnout Milestone Amount divided by (y) the Maximum Earnout Milestone Amount (as defined below); and                       |

| ● | 690,368 shall vest at such time that the volume weighted average price of Class A common stock on the Nasdaq Capital Market (“Nasdaq”) as reported by Bloomberg L.P. equals or exceeds $12.00 per share (as adjusted for extraordinary transactions, stock splits, extraordinary stock dividends, reorganizations, recapitalizations and the like) for 20 trading days 
 within any 30 consecutive trading day period during the vesting period; or (B) if, prior to the $12.00 vesting time, any                                                                                                                                                                                                                                               
 Subject Vesting Shares have vested simultaneously with the Earnout Stock Payment, then (x) if the number of Subject Vesting Shares                                                                                                                                                                                                                                     
 that have vested exceeds 690,368, then no additional Subject Vesting Shares shall vest and (y) if the number of Subject Vesting Shares                                                                                                                                                                                                                                 
 that have vested is less than 690,368 (the “Deficit Amount”), then a number of Subject Vesting Shares equal to 690,368 less                                                                                                                                                                                                                                            
 the Deficit Amount shall vest; and                                                                                                                                                                                                                                                                                                                                     |

F-50 AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 4 — RECAPITALIZATION(cont.)

| ● | Any remaining Subject Vesting Shares shall vest in full at                                                                             
 the same time that the volume weighted average price of Class A common stock on the