Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 844

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 844
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 SEC rules, we are required to have a Compensation
Committee of at least two members, all of whom must be independent. Ms. Grasso, Dr. Cosgrove, and Mr. Capone are each independent.
We have adopted a charter of the Compensation Committee, which details the principal functions of the Compensation Committee, including:

●reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive
Officer’s compensation, evaluating our Chief Executive Officer’s performance in light of such goals and objectives and determining
and approving the remuneration (if any) of our Chief Executive Officer based on such evaluation;

●reviewing and making recommendations to our Board of Directors with respect to the compensation, and any
incentive compensation and equity-based plans that are subject to board approval of all of our other officers;

●reviewing our executive compensation policies and plans;

●implementing and administering our incentive compensation equity-based remuneration plans;

●assisting Management in complying with our proxy statement and annual report disclosure requirements;

●approving all special perquisites, special cash payments and other special compensation and benefit arrangements
for our executive officers and employees;

●producing a report on executive compensation to be included in our annual proxy statement;

●reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors; and

●advising the Board and any other Board committees if the clawback provisions of the SEC Clawback Rule
are triggered based upon a financial statement restatement or other financial statement change and perform any other tasks required of
it by the Clawback Policy (as defined below), with the assistance of Management and to the extent that our securities continue to be listed
on an exchange and subject to the SEC Clawback Rule.

The charter of the Compensation
Committee also provides that the Compensation Committee may, in its sole discretion, retain or obtain the advice of a compensation consultant,
legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of the work of any such
adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel or any other adviser, the
Compensation Committee will consider the independence of each such adviser, including the factors required by Nasdaq and the SEC.

Director Nominations

We do not have a standing
nominating committee though we intend to form a corporate governance and nominating committee as and when required to do so by law or
Nasdaq rules