Company: SATT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002119
Chunk: 510

Company: SATIVUS TECH CORP.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 510
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 for the election
of nominees to the board of directors and we do not have any specific process or procedure for evaluating such nominees. The board of
directors will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

A shareholder who wishes to communicate with the
Company’s board of directors may do so by directing a written request addressed to any of our directors at the address appearing
on the first page of this registration statement.

Audit Committee Financial Expert

We do not have a standing audit committee. Our
directors perform the functions usually designated to an audit committee. Our board of directors has determined that we do not have a
board member that qualifies as an “audit committee financial expert” as defined in Item 407(d)(5) of Regulation S-K, nor do
we have a board member that qualifies as “independent” as the term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under the
Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14) of the NASD Rules.

We believe that our board of directors is capable
of analyzing and evaluating our financial statements and understanding internal controls and procedures for financial reporting. Our board
of directors does not believe that it is necessary to have an audit committee because management believes that the functions of an audit
committees can be adequately performed by the board of directors. In addition, we believe that retaining an independent director who would
qualify as an “audit committee financial expert” would be overly costly and burdensome and is not warranted in our circumstances
given the stage of our development and the fact that we have not generated positive cash flow to date.

As we generate revenue in the future, we intend
to form a standing audit committee and identify and appoint a financial expert to serve on our audit committee.

Code of Ethics

The Company has adopted a Code of Ethics for Senior
Financial Officers that is applicable to our principal executive officer, principal financial officer, principal accounting officer or
controller, or persons performing similar functions.

Indemnification

Under our Articles of Incorporation and Bylaws
of the corporation, we may indemnify an officer or director who is made a party to any proceeding, including a law suit, because of his
position, if he acted in good faith and in a manner he reasonably believed to be in our best interest. We may advance expenses incurred
in defending a proceeding. To the extent that