Company: MOBBW
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001013762-25-003365
Chunk: 76

Company: Mobilicom Ltd
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 76
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. Gelfer was granted 3,500,000 options exercisable to ordinary shares, at an exercise price of AUD$0.008 ($0.005), vesting over 3 years.  

C. Board Practices

Board of Directors

Our board of directors currently
consists of four members.

Directors may be elected at
each annual general meeting of our shareholders and, subject to any express contractual terms which may apply to executive Directors,
serve until they retire or are removed by a majority vote of shareholders. In addition, our Constitution require that the number nearest
to but not more than one-third of the directors (excluding the CEO) must retire at each annual general meeting - directors who retire
in this manner are eligible for re-election at the same annual general meeting. We believe that each of our directors has relevant industry
experience. The membership of our board of directors is directed by the following requirements:

  our Constitution specifies that the number of directors must not be lower than that required by Australian law (being three directors) and not greater than twelve Directors and our board of dir...  
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  as set forth in our Board Charter, it is recommended that the membership of the board of directors should consist of a majority of independent directors who satisfy the independence criteria gu...  
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  our board of directors should, collectively, have the appropriate level of personal qualities, skills, experience, and time commitment to properly fulfill its responsibilities or have ready acc...  

Our board of directors has
delegated responsibility for the conduct of our businesses to the Chief Executive Officer, but remains responsible for overseeing the
performance of management. Our board of directors has established delegated limits of authority, which define the matters that are delegated
to management and those that require board of directors’ approval. Under the Corporations Act, at least two of our directors must
be resident Australians.

Committees

To assist our board of directors
with the effective discharge of its duties, we have established a Remuneration and Nomination Committee and an Audit and Risk Committee,
which committees operate under a specific charter approved by our board of directors.

Remuneration and Nomination Committee

The members of our Remuneration
and Nomination Committee are Jonathan Brett and Campbell Mc