Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 700

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 9B
Chunk 700
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 to both other
companies in our industry and other comparable companies. The Board considered each officer’s level of responsibility and individual
performance, including an assessment of the person’s overall value to the Company. In addition, internal equity among employees
was factored into the decision. Finally, the Board considered our financial performance and our ability to absorb any increases in salaries.

35

Annual
Incentive Bonuses. Annual incentive bonuses are designed to reward extraordinary performance by our executives. For Fiscal Year 2025,
the Board did not precisely define the parameters of a bonus program for the Named Executive Officer, and no bonuses were awarded to
the Named Executive Office.

Stock-Based
Compensation. Each Named Executive Officer or Director is eligible to receive stock-based compensation. Stock-based compensation
is designed to more closely align the interests of management with those of our stockholders. We do not have any securities authorized
for issuance under an equity compensation plan, or any policies for allocating compensation between long-term and currently paid out
compensation or between cash and non-cash compensation or among different forms of non-cash compensation. No stock-based compensation
was granted during the years ended March 31, 2025.

Other
Benefits. Our Named Executive Officer receive the same benefits that are available to all other full-time employees, including the
payment of health, dental, life and disability insurance premiums.

Deductibility
of Executive Compensation

Section
162(m) of the Internal Revenue Code disallows a tax deduction to publicly held companies for compensation paid to certain covered executives
to the extent such compensation exceeds $1.0 million per covered officer in any year. The Board understands that it is possible that
the compensation payable to our named executive officers will exceed the $1.0 million limit under Section 162(m). We believe that in
establishing the cash and equity incentive compensation programs for our named executive officers, the potential deductibility of the
compensation payable under those programs should be only one of a number of relevant factors taken into consideration, and not the sole
governing factor. For that reason, we may deem it appropriate to provide one or more named executive officers with the opportunity to
earn incentive compensation, whether through annual cash incentive programs tied to our financial performance or through equity awards,
which together with base salary in the aggregate may be in excess of the amount deductible by reason of Section 162(m) or other provisions
of the Internal Revenue Code. We believe it is important to maintain cash and equity incentive compensation at the