Company: OTSA
Filing Date: 2025-05-23
Form Type: DRS/A
Source: 0001213900-25-047247
Chunk: 221

Company: OTSAW Ltd
Filing Date: 2025-05-23
Form: DRS/A
Chunk 221
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 a compensation committee upon the effectiveness of the registration statement. Our board of directors determined the compensation to be paid to our executive officers based on our financial and operating performance and prospects, and contributions made by the officers to our success. Each of the named officers is expected to be measured by a series of performance criteria by the board of directors, or the compensation committee on a yearly basis. Such criteria are expected to be set forth based on certain objective parameters such as job characteristics, required professionalism, management skills, interpersonal skills, related experience, personal performance and overall corporate performance. Our board of directors has not adopted or established a formal policy or procedure for determining the amount of compensation paid to our executive officers. The board of directors will make an independent evaluation of appropriate compensation to key employees, with input from management. The board of directors has oversight of executive compensation plans, policies and programs. Compensation of Executive Directors and Executive Officers For the six months ended October31, 2024, we paid an aggregate of SGD213,319.3 (approximately USD 160,813.37) which is the total amount of base salary plus bonus, in cash to our executive officers and executive directors. For the fiscal year ended April 30, 2024, we paid an aggregate of SGD 441,642.84 (approximately USD 324,451.10), which is the total amount of base salary plus bonus, in cash to our executive officers and executive directors. For the fiscal year ended April 30, 2023, we paid an aggregate of SGD 416,575.35 (approximately USD 312,275.37), which is the total amount of base salary, in cash to our executive officers and executive directors. We have not set aside or accrued any amount to provide pension, retirement or other similar benefits for our executive officers and executive directors. Indemnification Agreements We have entered into indemnification agreements with each of our directors and executive officers. Under these agreements, we agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer of our Company. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. 139 PRINCIPAL SHAREHOLDERS The following table sets forth