Company: SVREW
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001013762-25-001028
Chunk: 90

Company: SaverOne 2014 Ltd.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 6
Chunk 90
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 prior to expiration only by a shareholder vote, by the same threshold
required for election, or by a court, but in each case only if the external director ceases to meet the statutory qualifications for
election or if the external director violates his or her duty of loyalty to us. If at the time of election of an external director all
of the members of the board of directors (excluding controlling shareholders or relatives of controlling shareholders) are of the same
gender, the external director to be elected must be of the other gender.

Under
the Companies Law, each committee of a company’s board of directors that is authorized to exercise powers of the board of directors
is required to include at least one external director, and all external directors must be members of the company’s audit committee
and compensation committee.

We
currently have two external directors: Shlomo Shalev, who was re-elected as an external director by our shareholders in August 2023 for
an additional three-year term ending in August 2026, and Sharon Schreiber, whose first term commenced on August 18, 2022, and ends on
August 18, 2025. Our board of directors has determined that our external directors have accounting and financial expertise and/or possess
the requisite professional qualifications as required under the Nasdaq Marketplace Rules.

Committees
of the Board of Directors

Audit
Committee

Under
the Companies Law, the Exchange Act and Nasdaq Marketplace Rules, we are required to establish an audit committee.

The
responsibilities of an audit committee under the Companies Law include identifying and addressing flaws in the business management of
the company, reviewing and approving related party transactions, establishing whistleblower procedures, overseeing the company’s
internal audit system and the performance of its internal auditor, and assessing the scope of the work and recommending the fees of the
company’s independent accounting firm. In addition, the audit committee is required to determine whether certain related party
actions and transactions are “material” or “extraordinary” for the purpose of the requisite approval procedures
under the Companies Law and to establish procedures for considering proposed transactions with a controlling shareholder.

In
accordance with U. S. law and Nasdaq Marketplace Rules, our audit committee is also responsible for the appointment, compensation
and oversight of the work of our independent auditors and for assisting our board of directors in monitoring our financial statements,
the effectiveness of our internal controls and our compliance with legal and regulatory requirements.

Under
the Companies Law, the audit committee must consist