Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 310

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 310
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 of the Company under Mr. Rosén is
the appropriate leadership structure for our Company and that any risks inherent in that structure are balanced by the oversight of our
other independent directors on our Board. However, no single leadership model is right for all companies and at all times. The Board
recognizes that depending on the circumstances, other leadership models, such as the appointment of a lead independent director, might
be appropriate. Accordingly, the Board may periodically review its leadership structure. In addition, the Board holds executive sessions
in which only independent directors are present.

Our
Board is generally responsible for the oversight of corporate risk in its review and deliberations relating to our activities. Our principal
source of risk falls into two categories, financial and product commercialization. The audit committee oversees management of financial
risks; our Board regularly reviews information regarding our cash position, liquidity and operations, as well as the risks associated
with each. The Board regularly reviews plans, results and potential risks related to our business. The Board is also expected to oversee
risk management as it relates to our compensation plans, policies and practices for all employees including executives and directors,
particularly whether our compensation programs may create incentives for our employees to take excessive or inappropriate risks which
could have a material adverse effect on the Company.

Director
Independence

As
required under the Nasdaq Marketplace Rules, a majority of the members of a listed company’s board of directors must qualify as
“independent,” as affirmatively determined by the board of directors. Our Board of Directors considered certain relationships
between our directors and us when determining each director’s status as an “independent director” under Rule 5605(a)(2)
of the Nasdaq Marketplace Rules. Based upon such definition and SEC regulations, the Company’s Board of Directors has affirmatively
determined that currently three of its seven directors (Christer Rosén, Marshall Hayward, Ph.D., and Alison D. Silva) are non-independent
directors of the Company and four of its seven directors (Nicholas H. Hemmerly, Julie Kampf, Allison W. Brady, and Holger Weis) are “independent”
directors under Nasdaq listing standards. Therefore, the Board of Directors has determined that a majority of the members of our Board
of Directors are “independent”.

100

Committees
of the Board of Directors

Audit
Committee

We
have established an audit committee (“Audit Committee”), which consists of three independent directors: Holger Weis, Allison