Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1372

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1372
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 Mr. Lee was appointed
as a member and chairman of the Compensation Committee of the Company Board and a member of its M&A Committee, filling vacancies created
by Dr. Reed’s resignation. Radclyffe Roberts was also appointed as chairman of the M&A Committee.

The Company believes Mr. Lee is well qualified to serve as a director
because of his extensive experience in both legal and investment sectors across various asset classes, demonstrating significant expertise
in capital markets. The Company Board has affirmatively determined that Mr. Lee meets the applicable standards for an independent director
under the rules of the Nasdaq Stock Market LLC. Mr. Lee will not be compensated by the Company for his services as a director. In connection
with his appointment, Mr. Lee has entered into a Letter Agreement and an Indemnity Agreement with the Company on the same terms as the
Letter Agreement and Indemnity Agreement entered into by the directors and officers of the Company at the time of the Company’s
initial public offering and in the form previously filed as Exhibits 10.1 and 10.6, respectively, to the Company’s Annual Report
on Form 10-K filed with the SEC on April 17, 2024. Other than the foregoing, Mr. Lee is not a party to any arrangement or understanding
with any person pursuant to which he was appointed as director, nor is he party to any transactions required to be disclosed under Item
404(a) of Regulation S-K involving the Company.

As previously reported by the Company on Form 8-K dated June 13,
2024, on June 7, 2024 Inchul Chung provided notice of his resignation as a member of the Company Board and as a member of the Company
Board’s Audit Committee. Mr. Chung’s resignation took immediate effect and was not the result of any dispute or disagreement
with the Company on any matter relating to its operations, policies or practices.

97

On June 7, 2024, Radclyffe Roberts also provided notice of his
resignation as member of the Board and as a member of the Board’s Compensation Committee as well as a member and chair of the Board’s
M&A Committee. Mr. Robert’s resignation took immediate effect and was not the result of any dispute or disagreement with
the Company on any matter relating to its operations, policies or practices.

Due to the resignations of Mr. Chung and Mr. Roberts, the
Company