Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 841

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 3
Chunk 841
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, by a majority of the holders
of our Founder Shares, and any director so elected to fill any such vacancy or newly created directorship shall hold office until his
or her successor is elected and qualified or until his or her earlier resignation or removal.

Our officers are appointed by the board of directors and serve at the
discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons
to the offices set forth in our bylaws as it deems appropriate.

Nasdaq listing standards require that a majority of our board of directors
be independent. An “independent director” is defined generally as a person other than an officer or employee of the company
or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would
interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our board of
directors has determined that Messrs. Markscheid and Mewawalla  are “independent directors”
as defined in the Nasdaq listing standards and applicable SEC rules.

Officer and Director Compensation

None of our officers has received any cash compensation for services
rendered to us.

82

Commencing on March 22, 2023, we entered into an administrative support
agreement under which we agreed to pay our Sponsor a total of $10,000 per month for secretarial and administrative services. The administrative
support agreement began on the we first listed on the Nasdaq Global Market and will continue monthly until the completion of our initial
business combination or liquidation. No compensation of any kind, including any finder’s fee, reimbursement, consulting fee or monies
in respect of any payment of a loan, will be paid by us to our Sponsor, officers and directors, or any affiliate of our Sponsor or officers,
prior to, or in connection with any services rendered in order to effectuate, the consummation of our initial business combination (regardless
of the type of transaction that it is). Our officers and directors will be reimbursed for any out-of-pocket expenses incurred in connection
with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations.
Our audit committee will review on a quarterly basis all payments that were made to our Sponsor, officers, directors, advisors or our
or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust account.
Other than