JAB Acquisition Corp I entered into a Consulting Services Agreement with its sponsor, JAB Acquisition Sponsor I, LLC, on October 27, 2026. The agreement, which has retrospective effect as of June 1, 2026, outlines the compensation for the Company's Chairman and Chief Executive Officer, Joshua Jagid, and Chief Financial Officer, Jack Bressman.
Under the terms of the agreement, the Company pays the Sponsor a monthly fee of $14,000 for the officers to serve in their current roles and to identify, evaluate, negotiate, finance, and complete the Company's initial business combination. The fee is paid from funds held outside the trust account for each month from June 2026 through the month in which the Company completes its initial business combination. The Sponsor directs that $8,000 is paid to Mr. Jagid and $6,000 is paid to Mr. Bressman.
The Company has already paid $70,000 to the officers to cover the period from June through October 2026. Additionally, the Company reimburses the Sponsor or the officers for documented out-of-pocket expenses incurred on its behalf.
The agreement stipulates that the Consulting Agreement fee is separate from a $10,000 monthly fee for office space and administrative support under a separate Administrative Services Agreement. The Sponsor waived a $50,000 amount owed under that Administrative Services Agreement for the months of June through October 2026, which had not been paid. Payments under that agreement are set to resume on November 10, 2026, at the Sponsor's discretion.
The Consulting Agreement will terminate upon the completion of the Company's initial business combination or liquidation. Either party may terminate the agreement earlier for an uncured material breach, and the Company may terminate it if both Mr. Jagid and Mr. Bressman cease serving as officers. The Sponsor waived any claim against the trust account under the agreement. The Company’s audit committee approved the Consulting Agreement, including the prior payments and the waiver, as a related-party transaction, and the board of directors approved it on the audit committee’s recommendation.
