Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 1161

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 1161
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 79 licenses.

We believe that Mr. Jainal Bhuiyan is qualified
to serve as a member of our Board based on his outstanding skills and unique experience in investment banking in healthcare sector.

Board of Directors

Our business and affairs are managed under the
direction of our board of directors. Our board of directors currently consists of Four (4) members, three (3) of whom qualify as “independent”
under the listing standards of Nasdaq.

Directors serve until the next annual meeting
and until their successors are elected and qualified. Officers are appointed to serve for one year until the meeting of the Board following
the annual meeting of shareholders and until their successors have been elected and qualified.

Board Leadership Structure and Risk Oversight

The Board oversees our business and considers
the risks associated with our business strategy and decisions. The Board currently implements its risk oversight function as a whole.
Each of the Board committees, as set forth below, will also provide risk oversight in respect of its areas of concentration and reports
material risks to the board for further consideration.

Director Independence

Our board of directors are composed of a majority
of “independent directors” as defined under the rules of Nasdaq. Nasdaq Listing Rule 5605(a)(2) provides that an “independent
director” is a person other than an officer or employee of the company or any other individual having a relationship which,
in the opinion of the Company’s Board, would interfere with the exercise of independent judgment in carrying out the responsibilities
of a director.

Under such definition, our Board has undertaken
a review of the independence of each director. Based on information provided by each director concerning his or her background, employment
and affiliations, our Board has determined that Ronald McClurg, Jainal Bhuiyan, and Dave Rosa are all independent directors of the Company.

49

Board Committees

Our board of directors has established three standing
committees, audit committee, compensation committee and nominating and corporate governance committee, each of which operate under a charter
that has been approved by our board of directors. We have appointed persons to the board of directors and committees of the board of directors
as required meeting the corporate governance requirements of the Nasdaq Listing Rules.

Audit Committee

We have established an audit committee consisting
of Ronald McClurg, Jainal Bhuiyan, Dave Rosa and Ronald McClurg is the Chairman of the audit committee. In addition, our Board has determined
that Ronald McClurg is an audit committee financial expert within the meaning of Item