Company: OMQS
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001813
Chunk: 762

Company: OMNIQ Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 762
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ated under the Securities Act, we have adopted the definition of “independent director”
as set forth in Rules 5000(a)(19) and 5605(a)(2) of the rules of the Nasdaq Stock Market. The Board determined that Mr. Guy Elhanani
qualifies as “independent directors” pursuant to such rules.

Board
Committees

We
have three standing committees: the Audit Committee, the Compensation Committee, and the Corporate Governance/Nominating Committee. We
believe that the members of the Audit Committee, Compensation Committee and Corporate Governance/Nominating Committee are deemed to be
“independent” pursuant to the NASDAQ listing standards and applicable SEC rules. We believe that all members of our Board
have been and remain qualified to serve on the committees of our Board and have the experience and knowledge to perform the duties required
of the committees.

22

Audit
Committee

The
Audit Committee consists of Mr. Guy Elhanani, whereby Mr. Elhanani is the Chairperson. Our Board has determined that Mr. Elhanani qualifies
as an “audit committee financial expert,” as defined under the rules of the SEC.

The
primary responsibility of the Audit Committee is to oversee our financial reporting process on behalf of the Board and report the results
of their activities to the Board. The Audit Committee’s responsibilities include providing assistance to the Board relating to:

    ●
    the
    integrity of the Company’s financial statements and the related public reports;

    ●
    disclosures
    and regulatory filings in which they appear;

    ●
    the
    systems of internal control over financial reporting, operations, and legal/regulatory compliance;

    ●
    the
    performance, qualifications, and independence of the Company’s independent accountants;

    ●
    the
    performance, qualifications, and independence of the Company’s internal audit function, and

    ●
    compliance
    with the Company’s ethics policies and applicable legal and regulatory requirements.

Our
Audit Committee charter is available on the “About Us” subpage of our website (www.omniq.com).

Compensation
Committee

The
Compensation Committee consists of Mr. Guy Elhanani,. Mr. Elhanani serves as Chairperson.

The
Compensation Committee’s responsibilities include, among others:

    ●
    approve
    annually the corporate goals and objectives applicable to the compensation of the CEO and/or President, evaluate at least annually
    the CEO’s and/or President’s