Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 226

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 226
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, or recommending to the board for its approval, the compensation for our chief executive officer and other executive officers; •reviewing and recommending to the shareholders for determination with respect to the compensation of our directors; •reviewing periodically and approving any incentive compensation or equity plans, programs or similar arrangements; and •selecting compensation consultant, legal counsel or other adviser only after taking into consideration all factors relevant to that person’s independence from management. Nominating and Corporate Governance Committee.Our nominating and corporate governance committee will consist of Dr. John M. Dolan, Mr. Christopher T. Olivia, and Ms. Susan E. Skerritt, upon the effectiveness of their appointments. Dr. John M. Dolan is expected to be the chair of our nominating and corporate governance committee. We have determined that Dr. Dolan, Mr. Christopher T. Olivia and Ms. Skerritt satisfy the “independence” requirements under NASDAQ Rule 5605. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees. The nominating and corporate governance committee will be responsible for, among other things: •selecting and recommending to the board nominees for election by the shareholders or appointment by the board; 137 •reviewing annually with the board the current composition of the board with regards to characteristics such as independence, knowledge, skills, experience and diversity; •making recommendations on the frequency and structure of board meetings and monitoring the functioning of the committees of the board; and •advising the board periodically with regards to significant developments in the law and practice of corporate governance as well as our compliance with applicable laws and regulations, and making recommendations to the board on all matters of corporate governance and on any remedial action to be taken. Controlled Company We expect to continue to be a controlled company within the meaning of the Nasdaq Stock Market Rules, and as a result, we qualify for and intend to continue to rely on exemptions from certain corporate governance requirements. Public Companies that qualify as a “controlled company” with securities listed on the Nasdaq Stock Market (Nasdaq), must comply with the exchange’s continued listing standards to maintain their listings. Nasdaq has adopted qualitative listing standards. Companies that do not comply with these corporate governance requirements may lose their listing status. Under the Nasdaq rules, a “controlled company” is a company with more than 50% of its voting power held by a single person, entity or group. Under Nas