Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 203

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 203
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 such time, and will be subject to the review of our audit committee pursuant to the audit committee’s policies and procedures
relating to transactions that may present conflicts of interest. Our officers and directors will be reimbursed for any out-of-pocket expenses
incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable
business combinations. Our audit committee will review on a quarterly basis all payments that were made to our Sponsor, officers, directors,
advisors or our or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside
the Trust Account. Other than quarterly audit committee review of such payments, we do not expect to have any additional controls in place
governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection
with identifying and consummating an initial business combination.

During 2023, our Sponsor transferred 20,000 founder shares to each
of Drs. Chung, Reed and Roberts and Mssrs. Euh and Park for their board service and Mr. Yoo for his service as chief financial officer. Our
Sponsor additionally transferred 20,000 private placement warrants to each of Dr. Reed for his service as chairman of the board of
directors, Dr. Chung for his service as chair of the audit committee, and Mr. Yoo for his service as chief financial officer.
No officer or director has received any compensation for services rendered to us during the year ended December 31, 2024.

Clawback Policy 

On November 15, 2023, the Board adopted an Incentive-Based Compensation
Recovery Policy (the “Clawback Policy”) in order to comply with Section 10D of the Exchange Act, Rule 10D-1 of
the Exchange Act and the listing standards adopted by the Nasdaq Stock Market. The Clawback Policy provides for the mandatory recovery
of erroneously awarded incentive-based compensation from current and former executive officers (as defined in the Clawback Policy)
of the Company in the event that the Company is required to prepare an accounting restatement. The Clawback Policy is included as an exhibit
to its annual report on Form 10-K for the fiscal year ended December 31, 2023. The Clawback Policy can also be reviewed
by accessing the Company’s public filings at the SEC’s web site at