Company: LEGT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001829126-25-001098
Chunk: 484

Company: Legato Merger Corp. III
Filing Date: 2025-02-19
Form: 10-K
Item: Item 4
Chunk 484
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 two members of the compensation committee, all of whom must be independent, subject to certain phase-in provisions. David Sgro, Brian Pratt and John Ing serve as members of our compensation committee. Each such person meets the independent director standard under NYSE American listing standards applicable to members of the compensation committee.

We have adopted a compensation committee charter, which details the principal functions of the compensation committee, including:

    ●
    reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer’s compensation, evaluating our Chief Executive Officer’s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer based on such evaluation; 

    ●
    reviewing and approving on an annual basis the compensation of all of our other officers; 

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    reviewing on an annual basis our executive compensation policies and plans; 

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    implementing and administering our incentive compensation equity-based remuneration plans; 

    ●
    assisting management in complying with our proxy statement and annual report disclosure requirements; 

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    approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees; 

    ●
    if required, producing a report on executive compensation to be included in our annual proxy statement; and 

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    reviewing, evaluating, and recommending changes, if appropriate, to the remuneration for directors. 

Notwithstanding the foregoing, other than reimbursement of expenses, no compensation of any kind, including finders, consulting or other similar fees, will be paid to any of our existing shareholders, officers, directors or any of their respective affiliates, prior to, or for any services they render in order to complete the consummation of a business combination although we may consider cash or other compensation to officers or advisors we may hire to be paid either prior to or in connection with our initial business combination. Accordingly, it is likely that prior to the consummation of an initial business combination, the compensation committee will only be responsible for the review and recommendation of any compensation arrangements to be entered into in connection with such initial business combination.

The charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider