Company: CDAQF
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001641172-25-000421
Chunk: 661

Company: Compass Digital Acquisition Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 3
Chunk 661
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 the appointment of directors
during such time. These provisions of our Amended and Restated Charter relating to the rights of holders of Class B Ordinary Shares to
appoint directors may be amended by a special resolution passed by a majority of at least 90% of our Ordinary Shares voting in a general
meeting. Our officers are appointed by the Board of Directors and serve at the discretion of the Board of Directors, rather than for
specific terms of office. Our Board of Directors is authorized to appoint officers as it deems appropriate pursuant to our Amended and
Restated Charter.

Committees
of the Board of Directors

Our
Board of Directors has three standing committees: the Audit Committee, a compensation committee (the “Compensation Committee”)
and a nominating and corporate governance committee (the “Nominating Committee”). Both our Audit Committee and our Compensation
Committee are composed solely of independent directors. Subject to phase-in rules, the Nasdaq Rules and Rule 10A-3 of the Exchange
Act require that the Audit Committee of a listed company be comprised solely of independent directors, and the Nasdaq Rules require
that the compensation committee of a listed company be comprised solely of independent directors. Each committee operates under a charter
that was approved by our Board and has the composition and responsibilities described below. The charter of each committee is available
on our website and filed as an exhibit to this Report.

Audit
Committee

Anna
Brunelle, Matt Schindel and Kirk Hovde serve as the members and Anna Brunelle serves as chair of the Audit Committee. All members of
our Audit Committee are independent of and unaffiliated with our Sponsors. Under the Nasdaq Rules and under applicable
SEC rules, all the directors on the Audit Committee must be independent.

Each
member of the Audit Committee is financially literate and our Board of Directors has determined that Anna Brunelle qualifies as an “audit
committee financial expert” as defined in applicable SEC rules and has accounting or related financial management expertise.

43

We
have adopted a charter of the Audit Committee, which details the principal functions of the Audit Committee, including:

    ●
    assisting
    with Board oversight of (i) the integrity of our financial statements, (ii) our compliance with legal and regulatory requirements,
    (iii) our independent registered public accounting firm’s qualifications and independence, and (iv) the performance of our
    internal audit function and independent registered public accounting firm; 

    ●
    the
    appointment, compensation