Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 840

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 840
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 at our first annual meeting of stockholders.

Our officers are appointed by the board of directors and serve at the
discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons
to the offices set forth in our bylaws as it deems appropriate. Our bylaws provide that our officers may consist of a Chairman of the
Board, a Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary, Treasurer, Assistant Secretaries and
such other offices as may be determined by the board of directors.

Changes in Company Directors during the reporting period

On May 24, 2024, Steven Reed provided notice of his resignation
as a member of the Company’s Board of Directors (the “Company Board”) effective immediately, including his chairmanship
of the Company Board, his chairmanship and service on the Compensation Committee of the Company Board, and his service on the M&A
Committee. Dr. Reed’s resignation was not the result of any dispute or disagreement with the Company or the Company Board on
any matter relating to the Company’s operations, policies or practices.

On May 27, 2024, the Company Board appointed Mr. Phil Geon Lee
as a director, effective immediately. Mr. Lee was appointed as a member of the Audit Committee of the Company Board, filling the
vacancy created by the resignation of Hosun Euh, as previously reported by the Company on Form 8-K filed with the SEC on June 14,
2023. The Company Board also appointed Jin Whan Park to act as chairman of its Audit Committee. Additionally, 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