Company: TACOW
Filing Date: 2025-03-21
Form Type: S-1
Source: 0001829126-25-001978
Chunk: 209

Company: Berto Acquisition Corp.
Filing Date: 2025-03-21
Form: S-1
Chunk 209
---
 until one year after our first fiscal year end following our listing on Nasdaq. The term of office of the second class of directors, consisting of [●] will expire at our second annual meeting of shareholders. The term of office of the third class of directors consisting of [●], will expire at our third annual meeting of shareholders. We may not hold an annual meeting of shareholders until after we consummate our initial business combination. Subject to any other special rights applicable to the shareholders, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors present and voting at the meeting of our board, or by a majority of the holders of our ordinary shares. 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. Subject to the Companies Act, our board of directors is authorized to appoint persons to the offices of Secretary and any other office that may be required, (including one or more chief executive officers, presidents, a chief financial officer, a treasurer, vice-presidents, one or more assistant vice-presidents, one or more assistant treasurers and one or more assistant secretaries) as it deems appropriate.

Director Independence

The rules of Nasdaq require that
a majority of our board of directors be independent within one year of our initial public offering. An “independent director”
is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the
listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company).
Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect to have [●] “independent
director” as defined in Nasdaq listing standards and applicable SEC rules prior to completion of this offering. Our board of directors
has determined that each of [●], [●], and [●] is an “independent director” as defined in Nasdaq listing
standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors
are present.

Certain exemptions are available
to us under the rules of Nasdaq and under Rule 10A-3 of the Exchange Act that allow companies a phase-in period for complying with committee
independence requirements after an initial public offering. Under these exemptions, companies are permitted to phase in compliance with
these rules and regulations as follows: (1) one member must satisfy the