Company: ILAG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001641172-25-006445
Chunk: 125

Company: Intelligent Living Application Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 125
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 plan and fees for the annual audit, quarterly reviews, tax and other audit-related services, and approve in advance any non-audit service to be provided by the independent auditor;      
  monitor the independence of the independent auditor and the rotation of partners of the independent auditor on our engagement team as required by law;                                                
  review the financial statements to be included in our Annual Report on Form 20-F and Current Reports on Form 6-K and review with management and the independent auditors the results of the annua...  
  oversee all aspects our systems of internal accounting control and corporate governance functions on behalf of the board;                                                                             

  75  

  review and approve in advance any proposed related-party transactions and report to the full Board on any approved transactions; and                                                                  
  provide oversight assistance in connection with legal, ethical and risk management compliance programs established by management and the Board, including Sarbanes-Oxley Act implementation, and ...  

We have determined that Ms. Carina Chui possesses
accounting or related financial management experience that qualifies her as an “audit committee financial expert” as defined
by the rules and regulations of the SEC.

Compensation Committee

Ms. Monique Ho, Ms. Carina Chui and Mr. Kenneth Liu
are members of our Compensation Committee and Ms. Monique Ho is the chairlady. All members of our Compensation Committee are qualified
as independent under the current definition promulgated by Nasdaq. We have adopted and approved a charter for the Compensation Committee.
In accordance with the Compensation Committee’s Charter, the Compensation Committee is responsible for overseeing and making recommendations
to the Board regarding the salaries and other compensation of our executive officers and general employees and providing assistance and
recommendations with respect to our compensation policies and practices. The Compensation Committee is responsible for, among other things:

  To approve compensation principles that apply generally to Company employees;                                                                                                                    
  To make recommendations to the BOD with respect to incentive compensation plans and equity-based plans and to oversee the application of the Company’s compensation recoupment/clawback policy;  
  To administer and otherwise exercise the various authorities prescribed for the Compensation Committee by the Company’s incentive compensation plans and equity-based plans;                     
  To select a peer group of companies against which to benchmark/compare the Company’s compensation systems for principal officers elected by the BOD;                                             
  To annually review the Company’s compensation policies and practices and assess whether such policies and practices are reasonably likely to have a material adverse effect on the Company;