Company: ALAR
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001213900-25-025287
Chunk: 89

Company: Alarum Technologies Ltd.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 6
Chunk 89
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with the independence requirement under Nasdaq Stock Market rules.

Pursuant to the regulations
under the Israeli Companies Law, the board of directors of a company such as ours is not required to have external directors if: (i) the
company does not have a controlling shareholder (as such term is defined in the Israeli Companies Law); (ii) a majority of the directors
serving on the board of directors are “independent,” as defined under Nasdaq Rule 5605(a)(2); and (iii) the company follows
Nasdaq Rule 5605(e)(1), which requires that the nomination of directors be made, or recommended to the board of directors, by a Nominating
Committee of the board of directors consisting solely of independent directors, or by a majority of independent directors. The Company
meets all of these requirements. On July 22, 2021, our board of directors resolved to adopt the corporate governance exemption set forth
above, and accordingly we no longer have external directors as members of our board of directors.

Independent Directors Under the Israeli
Companies Law

An “independent director”
is either an external director or a director who meets the same non-affiliation criteria as an external director (except for (i) the requirement
that the director be an Israeli resident (which does not apply to companies such as ours whose securities have been offered outside of
Israel or are listed outside of Israel) and (ii) the requirement for accounting and financial expertise or professional qualifications),
as determined by the audit committee, and who has not served as a director of the company for more than nine consecutive years. For these
purposes, ceasing to serve as a director for a period of two years or less would not be deemed to sever the consecutive nature of such
director’s service.

Regulations promulgated pursuant
to the Israeli Companies Law provide that a director in a public company whose shares are listed for trading on specified exchanges outside
of Israel, including the Nasdaq Capital Market, who qualifies as an independent director under the relevant non-Israeli rules and who
meets certain non-affiliation criteria, which are less stringent than those applicable to independent directors as set forth above, would
be deemed an “independent” director pursuant to the Israeli Companies Law provided: (i) he or she has not served as a director
of the company for more than nine consecutive years; (ii) he or she has been approved as such by the audit committee; and (iii)