Company: DMAAR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026240
Chunk: 278

Company: Drugs Made In America Acquisition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 278
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 we do not believe that the ability
of our management to remain with us after the consummation of our initial business combination should be a determining factor in our decision
to proceed with any potential business combination.

Committees of the Board of Directors

Our board of directors has two standing committees:
an audit committee and a compensation committee. Subject to phase-in rules, the Nasdaq listing rules and Rule 10A-3 of the Exchange Act
require that the audit committee of a listed company be comprised solely of independent directors, and Nasdaq listing rules require that
the compensation committee of a listed company be comprised solely of independent directors. Each committee operates under a charter that
has been approved by our board of directors and has the composition and responsibilities described below. 

Audit Committee

We have established an audit committee of the
board of directors. The members of our audit committee are Catherine Do, G. Sridhar Prasad and Myron W. Shulgan. Mr. Shulgan serves as
chair of the audit committee.

Each member of the audit committee is financially
literate, and our board of directors has determined that Mr. Shulgan qualifies as an “audit committee financial expert” as
defined in applicable SEC rules and has accounting or related financial management expertise.

We have adopted an audit committee charter, which
details the purpose and principal functions of the audit committee, including:

●assisting board oversight of (1) the integrity
of our financial statements, (2) our compliance with legal and regulatory requirements, (3) our independent registered public
accounting firm’s qualifications and independence, and (4) the performance of our internal audit function and independent registered
public accounting firm;

●the appointment, compensation, retention, replacement,
and oversight of the work of the independent registered public accounting firm and any other independent registered public accounting
firm engaged by us;

19

●pre-approving all audit and non-audit services
to be provided by the independent registered public accounting firm or any other registered public accounting firm engaged by us, and
establishing pre-approval policies and procedures;

●reviewing and discussing with the independent
registered public accounting firm all relationships the auditors have with us in order to evaluate their continued independence;

●setting clear hiring policies for employees or
former employees of the independent registered public accounting firm;

●setting clear policies for audit partner rotation
in compliance with applicable laws and regulations;

●obtaining and reviewing a report, at least annually,
from