Company: DAAQ
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001213900-25-027285
Chunk: 231

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-04-01
Form: S-1/A
Chunk 231
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 a relationship with the company). Upon the commencement of trading of our units on Nasdaq, we expect to have three “independent directors” as defined in Nasdaq rules and applicable SEC rules prior to completion of this offering. Our board of directors will consist of five members and will be divided into three classes with only one class of directors being appointed in each year, and with each class (except for those directors appointed prior to our first annual general meeting) serving a three -yearterm. In accordance with Nasdaq corporate governance requirements, we are not required to hold an annual general meeting until one year after our first fiscal year end following our listing on Nasdaq. The term of office of the first class of directors, which will consist of Kristin Smith and will expire at our first annual general meeting. The term of office of the second class of directors, which will consist of Rebecca Rettig and Thomas Trowbridge, will expire at the second annual general meeting. The term of office of the third class of directors, which will consist of Peter Ort and Jeff Tuder will expire at the third annual general meeting. Our independent directors will have regularly scheduled meetings at which only independent directors are present. 154 Executive Officer and Director Compensation None of our executive officers or directors have received any cash compensation for services rendered to us as of the date of this prospectus. Other than quarterly audit committee review of such reimbursements or payments, we do not expect to have any additional controls in place governing our reimbursement or payments to our directors and executive officers for their out -of -pocketexpenses incurred in connection with our activities on our behalf in connection with identifying and consummating an initial business combination. We are not prohibited from paying any fees (including advisory fees), reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account or pursuant to permitted withdrawals: •Repayment of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering -relatedand organizational expenses; •Reimbursement for office space and administrative support services made available to us by our sponsor, in an amount up to $20,000 per month; •Payment of consulting, success or finder fees to our officers, independent directors, officers, advisors, consultants or their