SECURITIES AND EXCHANGE COMMISSION
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 6, 2022, the Board of Directors (the “Board”) of JAWS Hurricane Acquisition Corporation (the “Company”) fixed the size of the Board at five directors and appointed Sanjan Dhody to serve as a Class II director. The Board also appointed Mr. Dhody to serve as a member of the Board’s Audit Committee and Compensation Committee. The Board has determined that Mr. Dhody is an independent director under applicable Securities and Exchange Commission and Nasdaq Capital Market rules.
On June 6, 2022, Hurricane Sponsor LLC (the “Sponsor”) transferred 25,000 shares of the Company’s Class B common stock, $0.0001 par value per share, to Mr. Dhody as compensation for his service as a director of the Company. Also on June 6, 2022, Mr. Dhody executed a joinder agreement pursuant to which he became a party to the Registration and Stockholder Rights Agreement, dated June 15, 2021 (the “Registration Rights Agreement”), among the Company, the Sponsor and the other equityholders of the Company, which provides for customary demand and piggy-back registration rights for the Holders (as defined therein), and includes certain transfer restrictions applicable to the Holders with respect to Company securities they hold. A copy of the Registration Rights Agreement was filed as Exhibit 10.3 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on June 16, 2021, and is incorporated herein by reference.
On June 6, 2022, Mr. Dhody executed a joinder agreement pursuant to which he became party to the Letter Agreement, dated June 10, 2021 (the “Insider Letter”), among the Company, the Sponsor and each of the officers and directors of the Company. A copy of the Insider Letter was filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K, filed with the SEC on June 16, 2021, and is incorporated herein by reference.
Mr. Dhody also entered into an indemnification agreement (the “Indemnification Agreement”), pursuant to which the Company has agreed to indemnify him against certain claims that may arise in connection with his service as a director of the Company. The Indemnification Agreement is substantially similar to the form filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K, filed with the SEC on June 16, 2021, which is incorporated herein by reference.
The Company will reimburse Mr. Dhody for reasonable out-of-pocket expenses related to identifying, investigating and completing an initial business combination.
Other than the foregoing, Mr. Dhody is not party to any arrangement or understanding with any person pursuant to which he was appointed as a director, nor is he party to any transaction required to be disclosed under Item 404(a) of Regulation S-K involving the Company.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: June 7, 2022 | JAWS HURRICANE ACQUISITION CORPORATION | |
| By: | /s/ Matthew Walters | |
| Name: | Matthew Walters | |
| Title: | Chief Executive Officer | |
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