Company: CUB
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001013762-25-001006
Chunk: 792

Company: Lionheart Holdings
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7A
Chunk 792
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and oversight of the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external
legal counsel or any other adviser, the Compensation Committee will consider the independence of each such adviser, including the factors
required by Nasdaq and the SEC.

31

Director
Nominations

We do not have a standing nominating committee though we intend to
form a corporate governance and nominating committee as and when required to do so by law or the Nasdaq Rules. In accordance with Rule 5605(e)(2) of
the Nasdaq Rules, a majority of the independent directors may recommend a director nominee for selection by our Board of Directors. Our
Board of Directors believes that the independent directors can satisfactorily carry out the responsibility of properly selecting or approving
director nominees without the formation of a standing nominating committee. The directors who participate in the consideration and
recommendation of director nominees are Messrs. Hawkins and Meltzer and Ms. Cohen. In accordance with Rule 5605(e)(1)(A) of the Nasdaq
Rules, all such directors are independent. As there is no standing nominating committee, we do not have a nominating committee charter
in place.

The
Board of Directors also consider director candidates recommended for nomination by our shareholders during such times as they are seeking
proposed nominees to stand for appointment at the next annual general meeting (or, if applicable, an extraordinary general meeting).
Our shareholders that wish to nominate a director for appointment to our Board of Directors should follow the procedures set forth in
our Amended and Restated Charter.

We
have not formally established any specific, minimum qualifications that must be met or skills that are necessary for directors to possess.
In general, in identifying and evaluating nominees for director, our Board of Directors considers educational background, diversity of
professional experience, knowledge of our business, integrity, professional reputation, independence, wisdom, and the ability to represent
the best interests of our shareholders. Prior to our initial Business Combination, our Public Shareholders will not have the right to
recommend director candidates for nomination to our Board of Directors.

Code
of Ethics

We
have adopted a Code of Business Conduct and Ethics, applicable to our directors, officers and employees, including our principal executive
officer, principal financial officer, principal accounting officer or controller or persons performing similar functions (the “Code
of Ethics”). A copy of the Code of Ethics and the charters of the committees of our Board of Directors will