Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 722

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 722
---
. Elsey serving as chair. Our board of directors has
affirmatively determined that each meets the definition of “independent director” under the rules of The Nasdaq Capital Market,
and that they meet the independence standards under Rule 10A-3. Each member of our audit committee meets the financial literacy requirements
of Nasdaq rules, and qualify as a financial expert within the meaning of SEC regulations and meets the financial sophistication requirements
of the pertinent listing standards of Nasdaq, as in effect from time to time. In making this determination, our board of directors has
considered the members’ formal education and previous and current experience in financial roles. Our board of directors has adopted
a written charter for the audit committee, which can be found on our website at https://ir.bullfrogai.com/corporate-governance/governance-documents.

The
audit committee is appointed by the board of directors to assist the board of directors in its duty to oversee the Company’s accounting,
financial reporting, and internal control functions and the audit of the Company’s financial statements. The role of the audit
committee is to oversee management in the performance of its responsibility for the integrity of the Company’s accounting and financial
reporting and its systems of internal controls, the performance and qualifications of the Company’s independent auditor, including
the independent auditor’s independence, the performance of the Company’s internal audit function; and the Company’s
compliance with legal and regulatory requirements. The audit committee met 5 times in 2024.

Compensation
Committee

Our
compensation committee consists of William Enright, Don Elsey and Jason Hanson, with Mr. Enright serving as chair. Our board of directors
has adopted a written charter for the compensation committee, which can be found on our website at https://ir.bullfrogai.com/corporate-governance/governance-documents.

 34 

The
compensation committee is responsible for reviewing and recommending, among other things:

●the
                                            adequacy and form of compensation of the board;

●the
                                            compensation of the Chief Executive Officer, including base salary, incentive bonus, stock
                                            option and other grant awards, and benefits upon hiring and on an annual basis;

●the
                                            compensation of other senior management upon hiring and on an annual basis; and

●the
                                            Company’s incentive compensation and other equity-based plans and recommending changes
                                            to such plans to our board of directors, when necessary.

The
compensation committee