Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 18

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 18
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 our hiring policies regarding current and former partners and employees of the external auditor. In addition, the
Audit Committee pre-approves all audit and non-audit services undertaken by the external auditor and any outside consultants engaged in
work related to the Company’s financial reporting. The Audit Committee has direct responsibility for overseeing the work of the
external auditor engaged for the purpose of preparing or issuing an auditor’s report or performing other audits, review or attest
services, including the resolution of disagreements between the external auditor and management.

The Board has determined that each
member of the Audit Committee has the appropriate level of financial understanding and industry specific knowledge to be able to perform
the duties of the position; and they are financially literate and have the requisite financial sophistication as required by the applicable
listing standards of NASDAQ. The Board has determined that Mr. McNulty is an “audit committee financial expert” as defined
by applicable SEC and Nasdaq rules.

The Audit Committee met 4 times
during the year ended June 30, 2025, which meetings were all attended by each member during his or her period of service, and the Committee
also acts by written consent. The Audit Committee operates under a charter that was adopted by our Board and is posted on our website
at www.lunaibioworks.com.

Compensation Committee

The members of our Compensation
Committee currently are James McNulty and Douglas Calder. Our Board has determined that Mr. McNulty and Mr. Calder are independent in
accordance with Nasdaq Rules.

The Compensation Committee,
as permitted by, and in accordance with, its charter, is responsible for assisting the Board in fulfilling its responsibilities relating
to matters of human resources and compensation, including equity compensation, and to establish a plan of continuity and development for
our senior management. The Compensation Committee periodically assesses compensation of our executive officers in relation to companies
of comparable size, industry, and complexity, taking the performance of the Company and such other companies into consideration. All decisions
with respect to the compensation of our principal executive officer are determined and approved solely by the Compensation Committee.
All decisions with respect to other executive compensation, including incentive-compensation and equity-based plans are first approved
by the Compensation Committee and then submitted, together with the Compensation Committee’s recommendation, to the members of the
Board for final approval. In addition, the Compensation Committee will, as appropriate, review and approve public or regulatory disclosure
relating to compensation, including the Compensation Disclosure and Analysis, and any metrics for performance