Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 256

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 256
---
 applicable SEC and NYSE rules. Our
independent directors will have regularly scheduled meetings at which only independent directors are present.

Certain exemptions are available
to us under NYSE rules and under Rule 10A-3 of the Exchange Act that allow companies a phase-in period for complying with committee
independence requirements after an initial public offering. Under these phase-in rules, companies are permitted to phase in compliance
with these rules and regulations as follows: (A) with respect to compensation committee and the nominating and corporate governance committee,
(1) one member must satisfy the requirement by the earlier of the date of the closing of this offering or five business days from the
date of listing; (2) a majority of members must satisfy the requirement within 90 days of the date of listing; and (3) all members must
satisfy the requirement within one year of listing, and (B) with respect to the audit committee, (1) one member must satisfy the requirement
by the date of listing; (2) a majority of members must satisfy the requirement within 90 days of the effective date of our registration
statement; and (3) all members must satisfy the requirement within one year of the effective date of our registration statement. Furthermore,
companies listing in connection with their initial public offering have twelve months from the date of listing to comply with the majority
independent board requirement. We do not intend to utilize these exemptions and intend to comply with the corporate governance requirements
of the NYSE, subject to applicable phase-in rules. However, if we determine in the future to utilize some or all of these exemptions,
you will not have the same protections afforded to shareholders of companies that are subject to all of the NYSE corporate governance
requirements.

<div align='center'>160</div>

Officer and Director Compensation

None of our executive officers
or directors have received any cash compensation for services rendered. We are not prohibited from paying any fees (including advisory
fees), reimbursements or cash payments to any of our sponsor, officers or directors, or any of their respective affiliates, for services
rendered to us prior to or in connection with the completion of our initial business combination, including the following payments, all
of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account:
(i) repayment of loans made to us prior to the date of this prospectus by our sponsor to cover offering-related and organization expenses,
(ii) repayment of loans