Company: APAD
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001213900-25-046705
Chunk: 321

Company: AParadise Acquisition Corp.
Filing Date: 2025-05-22
Form: S-1
Chunk 321
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 Committees of the Board of Directors After the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will have three standing committees: an audit committee, a compensation committee and a nominating committee. Each committee will operate under a charter that has been approved by our board and will have the composition and responsibilities described below. Subject to phase -inrules and a limited exception, Nasdaq rules and Rule 10A -3of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors, and Nasdaq rules require that the compensation committee of a listed company be comprised solely of independent directors. Audit Committee After the effectiveness of the registration statement of which this prospectus forms a part, our board of directors will establish an audit committee. The members of our audit committee will be Mr. Ashley Bancroft, Mr. Nathan Pau and Ms. Tracy Hui Yin Choi. Mr. Ashley Bancroft will serve as chairman of the audit committee. Each member of the audit committee is financially literate and our board of directors has determined that Mr. Ashley Bancroft qualifies as an “audit committee financial expert” as defined in applicable SEC rules. We will adopt an audit committee charter, which will detail the principal functions of the audit committee, including: •the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting firm engaged by us; •pre -approvingall audit and non -auditservices to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre -approvalpolicies and procedures; •reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence; 191 •setting hiring policies for employees or former employees of the independent auditors; •setting clear policies for audit partner rotation in compliance with applicable laws and regulations; •obtaining and reviewing a report, at least annually, from the independent auditors describing (i) the independent auditor’s internal quality -controlprocedures and (ii) any material issues raised by the most recent internal quality -controlreview, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within, the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; •reviewing and approving any related party transaction required to be disclosed pursuant to Item 404