Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1760

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1760
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 standards require that a majority
of our Board be independent. An “independent director” is defined generally as a person who, in the opinion of the company’s
board of directors, has no material relationship with the listed company (either directly or as a partner, shareholder, stockholder or
officer of an organization that has a relationship with the company). We have three “independent directors” as defined in
Nasdaq listing standards and applicable SEC rules. The Board has determined that Fara Remtulla, Daniel Mudd, Thomas P.M. Barry and Alfredo
Vara Alonso are “independent directors” as defined in Nasdaq listing standards and applicable SEC rules. Our independent
directors will have regularly scheduled meetings at which only independent directors are present.

Committees of the Board of Directors 

Our Board has three standing committees: the
audit, compensation, and nominating and corporate governance committees.

Each of our audit committee, compensation committee
and nominating and corporate governance committee currently are composed solely of independent directors. Subject to phase-in rules,
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, and the rules of Nasdaq require that the compensation committee and the nominating and corporate governance committee of a
listed company be comprised solely of independent directors. Each committee operates under a charter that was approved by the Board and
has the composition and responsibilities described below. The charter of each committee is available on our website.

Audit Committee 

We have established an audit committee of the
Board. Fara Remtulla, Daniel Mudd and Thomas P.M. Barry serve as the members and Mr. Mudd serves as chair of the audit committee. The
members of our audit committee are “independent” under applicable Nasdaq listing standards and applicable SEC rules.

Each of Fara Remtulla, Daniel Mudd and Thomas
P.M. Barry are financially literate and our Board has determined that Daniel Mudd qualifies as an “audit committee financial expert”
as defined in applicable SEC rules and has accounting or related financial management expertise.

57

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