Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 197

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 197
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 others on their behalf.

Our
Board of Directors oversees management’s processes for identifying and mitigating risks, including cybersecurity risks, to help
align our risk exposure with our strategic objectives. The full Board retains oversight of cybersecurity because of its importance. In
the event of an incident, we intend to follow our detailed incident response playbook, which outlines the steps to be followed from incident
detection to mitigation, recovery, and notification, including notifying functional areas (e.g., legal), as well as senior leadership
and the Board, as appropriate. We have implemented a governance structure and processes to assess, identify, manage, and report cybersecurity
risks.

ITEM
2. PROPERTIES

Our
corporate headquarters are located at 1119 Keystone Way N. #201 Carmel, IN 46032 pursuant to a three-year lease which commenced on July
1, 2021 and was amended on May 1, 2022 and provides for a monthly rent of $10,711. The lease was further amended on June 26, 2024 and
provides for a base monthly rent of $11,209 per month, over a three-year term of the lease, which commenced on July 1, 2024. We believe
this to be sufficient to meet our needs for the foreseeable future and that any additional space we may require will be available on
commercially reasonable terms.

ITEM
3. LEGAL PROCEEDINGS

From
time to time, we may become a party to various legal actions and complaints arising in the ordinary course of business. In addition to
commitments and obligations in the ordinary course of business, we are subject to various claims, pending and potential legal actions
for damages, investigations relating to governmental laws and regulations and other matters arising out of the normal conduct of our
business. It is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable
resolution of one or more of these contingencies.

In
January 2024, a former employee filed a wrongful termination lawsuit against the Company in the U.S. District Court, Southern District
of Indiana. In January 2025, the Company entered into a settlement agreement with the former employee for an immaterial amount and the
case is dismissed.

-26-

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable.

ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PUR