Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 486

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 486
---
 of the Board of Directors BLAC has two standing committees: an audit committee and a compensation committee. Subject to phase -inrules and a limited exception, Nasdaq rules and Rule 10A -3of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors, and Nasdaq rules require that the compensation committee of a listed company be comprised solely of independent directors. Audit Committee BLAC has established an audit committee of the board of directors. Mr. Park, Mr. Lee and Mr. Kim serve as members of the audit committee, and Mr. Park is the chair of the audit committee. Under the Nasdaq listing standards and applicable SEC rules, BLAC is required to have at least three members of the audit committee, all of whom must be independent. Each of Mr. Park, Mr. Lee and Mr. Kim meet the independent director standard under Nasdaq listing standards and under Rule 10 -A-3(b)(1) of the Exchange Act. Each member of the audit committee is financially literate and BLAC’s Board has determined that Mr. Park qualifies as an “audit committee financial expert” as defined in applicable SEC rules. BLAC has adopted an audit committee charter which details the principal functions of the audit committee, including: •the appointment, compensation, retention, replacement, and oversight of the work of the independent registered public accounting firm engaged by BLAC; •pre -approvingall audit and permitted non -auditservices to be provided by the independent registered public accounting firm, including but not limited to, as required by applicable laws and regulations; •setting clear hiring policies for employees or former employees of the independent registered public accounting firm, including but not limited to, as required by applicable laws and regulations; •setting clear policies for audit partner rotation in compliance with applicable laws and regulations; •obtaining and reviewing a report, at least annually, from the independent registered public accounting firm describing (i) the independent registered public accounting firm’s internal quality -controlprocedures, (ii) any material issues raised by the most recent internal quality -controlreview, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities within the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues and (iii) all relationships between the independent registered public accounting firm and BLAC to assess the independent registered public accounting firm’s independence; •reviewing and approving any related party transaction required to be disclosed