Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 96

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 6
Chunk 96
---
 or controller, or persons performing similar functions. A copy of the code will be posted on our website.
Risk Management

One of the key functions of the Board is informed oversight of our risk management process. The Board does not have a standing risk management committee, but rather administers this oversight function directly through the Board as a whole, as well as through various standing committees of the Board that address risks inherent in their respective areas of oversight. In particular, the Board is responsible for monitoring and assessing strategic and regulatory risk exposure, including monitoring the Company’s compliance with cybersecurity and data protection rules and regulations, approving the Company’s budget after considering various risks such as risks associated with supply chain, suppliers and key service providers, if any. Our Board receives periodic reporting on cybersecurity and other business operational risks.
Fiduciary Duties of Office Holders

The Companies Law imposes a duty of care and a duty of loyalty on all office holders of a company. The duty of care requires an office holder to act with the level of care with which a reasonable office holder in the same position would have acted under the same circumstances. The duty of care of an office holder includes a duty to use reasonable means, in light of the circumstances, to obtain:

●              information on the business advisability of a given action brought           
    for his or her approval or performed by him or her by virtue of his or her position; and
--------------------------------------------------------------------------------------------

●   all other important information pertaining to such action.
--------------------------------------------------------------

98

The duty of loyalty of an office holder requires an office holder to act in good faith and for the benefit of the company, and includes a duty to:

●                        refrain from any conflict of interest between the performance                     
    of his or her duties in the company and the performance of his or her other duties or personal affairs;
-----------------------------------------------------------------------------------------------------------

●   refrain from any action that is competitive with the company’s
                              business;                           
------------------------------------------------------------------

●   refrain from exploiting any business opportunity of the company
      to receive a personal gain for him or herself or others; and 
-------------------------------------------------------------------

●                           disclose to the company any information or documents relating                        
    to the company’s affairs which the office holder has received due to his or her position as an office holder.
-----------------------------------------------------------------------------------------------------------------

Under the Companies Law, a company may approve an act specified above which would otherwise constitute a breach of an office holder’s duty of loyalty, provided that the office holder acted in good faith, neither the act nor its approval harms the company and the office holder disc