Company: INCR
Filing Date: 2025-05-01
Form Type: 20-F
Source: 0001641172-25-007971
Chunk: 111

Company: Intercure Ltd.
Filing Date: 2025-05-01
Form: 20-F
Item: Item 6
Chunk 111
---
 Companies Law and that shareholder approval was obtained (by a Special Majority vote as discussed above with respect to the approval of director compensation). In addition, the compensation committee may waive the shareholder approval requirement with regards to the approval of the engagement terms of a candidate for the chief executive officer position, if they determine that the compensation arrangement is consistent with the company’s stated compensation policy, and that the chief executive officer did not have a prior business relationship with the company or a controlling shareholder of the company and that subjecting the approval of the engagement to a shareholder vote would impede the company’s ability to employ the chief executive officer candidate.
 
Clawback Policy
 
In November 2024, the Company adopted a Clawback Policy, which was subsequently approved by the Company’s shareholders at a general meeting. The policy applies to executive officers and aligns with applicable legal and regulatory requirements. Under this policy, the Company may recover incentive-based compensation paid to executive officers in cases where financial statements are restated due to material noncompliance with financial reporting requirements. The policy applies to compensation granted, earned, or vested based on misstated financial results, enabling the Company to reclaim such amounts within a defined period following the restatement.

82
--

C.     Board  
     Practices
--------------
Foreign Private Issuer Status
 
The Nasdaq Rules include certain accommodations in the corporate governance requirements that allow foreign private issuers, such as us, to follow “home country” corporate governance practices in lieu of the otherwise applicable corporate governance standards of the Nasdaq. The application of such exceptions requires that we disclose any significant ways in which our corporate governance practices differ from the Nasdaq Rules that we do not follow. We do not follow Rule 5605(b)(1) of the Nasdaq Rules that requires that a majority of our board of directors be comprised of independent directors or Rule 5605(b)(2) of the Nasdaq Rules that requires that our independent directors have regularly scheduled “executive sessions” at which only independent directors are present. Neither Israeli securities laws nor corporate law requires that we comply with these requirements. Further, we do not intend to follow Rule 5635 of the Nasdaq Rules that requires that shareholder approval be required for the Company to issue securities in connection with certain events, such as the acquisition of shares or assets of another company, the establishment of or amendments to equity-based compensation plans for employees, and certain securities issuances at or below a minimum price. Neither Israeli securities laws nor corporate law require shareholder approval for such transactions, except where such transactions