SEC Contract Filing

Filing Date: 2024-01-24

Document Content:
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<TYPE>EX-10.1
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<FILENAME>tm243919d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SOUTHPORT ACQUISITION CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CLAWBACK POLICY </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Introduction</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors (the &ldquo;<B>Board</B>&rdquo;) of Southport
Acquisition Corporation (the &ldquo;<B>Company</B>&rdquo;) believes that it is in the best interests of the Company and its stockholders
to maintain and enforce a culture of integrity and accountability. In accordance with the applicable rules (the &ldquo;<B>NYSE Rules</B>&rdquo;)
of the New York Stock Exchange (the &ldquo;<B>NYSE</B>&rdquo;) and Section 10D (&ldquo;<B>Section 10D</B>&rdquo;) and Rule 10D-1 (&ldquo;<B>Rule
10D-1</B>&rdquo;) of the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), the Board has adopted this
policy (this &ldquo;<B>Policy</B>&rdquo;) to provide for the recoupment of incentive-based compensation erroneously awarded to executive
officers of the Company and all other employees whose award agreements are subject to this Policy. The purpose of this Policy is to document
the Company&rsquo;s right to recover compensation that the Company determines, in its sole discretion, was unjustly paid to any Executive
Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Effective Date</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Policy applies to all Incentive Compensation received by a person:
(a) after beginning service as an Executive Officer; (b) who served as an Executive Officer at any time during the applicable performance
period relating to any Incentive Compensation; (c) while the Company has a class of securities listed on a national securities exchange
or a national securities association; and (d) during the applicable Recoupment Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Definitions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized terms used in this Policy have the
following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Committee</B>&rdquo; shall mean the
Board or such committee of the Board as may be appointed by the Board to administer the Policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Executive Officer</B>&rdquo; shall mean
the Company&rsquo;s president or chief executive officer, principal financial officer, principal accounting officer (or if there is no
such accounting officer, the controller), any vice-president in charge of a principal business unit, division, or function (such as sales,
administration, or finance), any other officer who performs a policy-making function, or any other person who performs similar policymaking
functions for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Financial Reporting Measure</B>&rdquo;
shall mean measures that are determined and presented in accordance with the accounting principles used in preparing the Company&rsquo;s
financial statements, and any measures that are derived wholly or in part from such measures. Stock price and total shareholder return
are also Financial Reporting Measures. A Financial Reporting Measure need not be presented within the financial statements or included
in a filing with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B>Incentive Compensation</B>&rdquo; shall
mean all cash compensation or equity-based compensation that is granted, earned or vested based in whole or in part upon the attainment
of a Financial Reporting Measure. Incentive Compensation does not include any of the following: (i) annual base salary, (ii) compensation
that is awarded based solely on service (e.g., a time-vesting equity award), (iii) bonuses paid solely in the discretion of the Committee,
or (iv) compensation that is awarded based on subjective standards, strategic or operational measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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