Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 897

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 897
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 as it deems appropriate.
Our amended and restated memorandum and articles of association provide that our officers may consist of a Chairman of the Board, a Chief
Executive Officer, a President, a Chief Operating Officer, a Chief Financial Officer, Vice Presidents, a Secretary, Assistant Secretaries,
a Treasurer and such other offices as may be determined by the board of directors.

18

Director Independence

The Nasdaq listing rules require that a majority
of our board of directors be independent within one year of our initial public offering. An “independent director” is defined
generally as a person that, in the opinion of the company’s board of directors, has no material relationship with the listed company
(either directly or as a partner, shareholder or officer of an organization that has a relationship with the company). We have three “independent
directors” as defined in the Nasdaq rules and applicable SEC rules. Our board has determined that each of Catherine Do, G. Sridhar
Prasad and Myron W. Shulgan is an independent director under applicable SEC and Nasdaq rules. Our independent directors will have regularly
scheduled meetings at which only independent directors are present.

Officer and Director Compensation 

None of our directors or officers have received
any cash compensation for services rendered to us. Our sponsor, directors and officers, or any of their respective affiliates, will be
reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses
and performing due diligence on suitable business combinations. Our audit committee will review and approve all payments that were made
by us to our sponsor, directors, officers or our or any of their respective affiliates, which may include reimbursement of any out-of-pocket
expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations.

After the completion of our initial business combination,
directors or members of our management team who remain with us may be paid consulting, management or other compensation from the combined
company. All compensation will be fully disclosed to shareholders, to the extent then known, in the proxy solicitation materials or tender
offer materials furnished to our shareholders in connection with a proposed business combination. It is unlikely the amount of such compensation
will be known at the time because the directors of the post-combination business will be responsible for determining executive officer
and director compensation. Any compensation to be paid to our officers after the completion of our initial business combination will be
determined