Company: GPAC
Filing Date: 2025-11-18
Form Type: S-1/A
Source: 0001140361-25-042608
Chunk: 246

Company: General Purpose Acquisition Corp.
Filing Date: 2025-11-18
Form: S-1/A
Chunk 246
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 amount of such compensation will be known at the time of the proposed business combination, 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 will be determined, or recommended to the board of directors for determination, either by a compensation committee constituted solely by independent directors or by a majority of the independent directors on our board of directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment. 154

TABLE OF CONTENTS

Committees of the Board of Directors Our board of directors will have three standing committees: an audit committee, a nominating committee and a compensation committee. Subject to phase-in rules and a limited exception, the rules of Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Subject to phase-in rules and a limited exception, the rules of Nasdaq require that the compensation committee of a listed company be comprised solely of independent directors. Each committee will operate under a charter that will be approved by our board and will have the composition and responsibilities described below. The charter of each committee will be available on our website. Audit Committee We will establish an audit committee of the board of directors. Alexandros Argyros, Chele Farley and Jonathan Intrater will serve as members of our audit committee. Our board of directors has determined that each of Alexandros Argyros, Chele Farley and Jonathan Intrater is independent. Jonathan Intrater will serve as the chairman of the audit committee. Each member of the audit committee meets the financial literacy requirements of Nasdaq and our board of directors has determined that Jonathan Intrater qualifies as “audit committee financial expert” as defined in applicable SEC rules and has accounting or related financial management expertise. The audit committee will be