Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 2507

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 9C
Chunk 2507
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. Whenever possible, the transaction should be approved in advance
and if not approved in advance, must be submitted for ratification as promptly as practical. The Company has written policies and procedures
with respect to related person transactions for managing such situations.

The financial literacy requirements
of the SEC require that each member of our audit committee be able to read and understand fundamental financial statements. In addition,
at least one member of our audit committee must qualify as an audit committee financial expert, as defined in Item 407(d)(5) of Regulation
S-K promulgated under the Securities Act, and have financial sophistication in accordance with the Nasdaq Stock Market listing rules.
Our Board of Directors has determined that Erick Lucera qualifies as an audit committee financial expert. Mr. Lucera is independent director,
as independence for audit committee members is defined in the Nasdaq Stock Market listing rules.

Both our independent registered
public accounting firm and management periodically meet privately with our audit committee.

88

Compensation Committee

The primary purpose of our compensation
committee is to assist our Board of Directors in exercising its responsibilities relating to compensation of our executive officers and
employees and to administer our equity compensation and other benefit plans. In carrying out these responsibilities, this committee reviews
all components of executive officer and employee compensation for consistency with its compensation philosophy, as in effect from time
to time. Our compensation committee met one time during the year ended March 31, 2025. The functions of our compensation committee include,
among other things:

    ●
    designing and implementing competitive compensation, retention and severance policies to attract and retain key personnel; 

    ●
    reviewing and formulating policy and determining the compensation of our Chief Executive Officer, our other executive officers and certain employees; 

    ●
    reviewing and recommending to our Board of Directors the compensation of our non-employee directors; 

    ●
    reviewing and evaluating our compensation risk policies and procedures; 

    ●
    administering our equity incentive plans and granting equity awards to our employees, consultants and directors under these plans; 

    ●
    administering our performance bonus plans and granting bonus opportunities to our employees, consultants and non-employee directors under these plans; 

    ●
    if required from time to time, preparing the analysis or reports on executive officer compensation required to be included in our annual proxy statement; 

    ●
    engaging compensation consultants or other advisors it deems appropriate to assist with its duties; and 

    ●
    reviewing and evaluating, at least annually, our compensation