Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 242

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 242
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 purposes of Rule 10A -3of the Exchange Act, a member of an audit committee of a listed company may not, other than in his or her capacity as a member of the audit committee, the board of directors, or any other board committee, accept, directly or indirectly, any consulting, advisory, or other compensatory fee from the listed company or any of its subsidiaries or otherwise be an affiliated person of the listed company or any of its subsidiaries. The Atlantic International board of directors has reviewed the composition of proposed board of directors of the combined company. Based upon information requested from and provided by each director concerning his or her background, employment and affiliations, including family relationships, our board of directors has determined that

150 each of Robert Machinst, Jeff Kurtz, David Solimine and David Pfeffer is an “independent director” as defined under Rule 5605 (a)(2)of the Nasdaq Marketplace Rules. Our board of directors also determined that the directors who serve on our audit committee, our compensation committee and our nominating and corporate governance committee satisfy the independence standards for such committees established by the SEC and the Nasdaq Marketplace Rules, as applicable. In making such determinations, our board of directors considered the relationships that each such non -employeedirector has with our company and all other facts and circumstances our board of directors deemed relevant in determining independence, including the beneficial ownership of our capital stock by each non -employeedirector. Board Oversight of Risk Upon the consummation of the Merger, one of the key functions of the combined company’s board of directors will be informed oversight of its risk management process. The Atlantic International board of directors believes that risk management is an important part of establishing, updating and executing on our business strategy. Following the Merger, the Atlantic International board of directors will have oversight responsibility relating to risks that could affect its corporate strategy, business objectives, compliance, operations, and the financial condition and performance. The Atlantic International board of directors focuses its oversight on the most significant risks facing us and, on our processes, to identify, prioritize, assess, manage and mitigate those risks. The Atlantic International board of directors receives regular reports from members of our senior management on areas of material risk to us, including strategic, operational, financial, legal and regulatory risks. While the Atlantic International board of directors has an oversight role, management is principally tasked with direct responsibility for management and assessment of risks and the implementation of processes and controls to mitigate their effects on the combined company. Board Committees Effective