Company: OSRH
Filing Date: 2025-02-21
Form Type: 8-K
Source: 0001213900-25-016100
Chunk: 0

Company: OSR Holdings, Inc.
Filing Date: 2025-02-21
Form: 8-K
Item: Item 5.01
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Item
5.01. Changes in Control of the Registrant

The information set forth above under Item 1.01 and Item 2.01 of this
Report is incorporated herein by reference.

Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers

The information set forth above in “ Management Following the Business Combination,” “ Certain OSR Holdings Relationships and Related Person
Transactions,” “ Certain BLAC Relationships and Related Person Transactions” and “ Indemnification
of Directors and Executive Officers” in Item 2.01 to this Report is incorporated herein by reference. Further, in connection
with the Business Combination, effective as of the Closing, David J. Yoo resigned from his position as BLAC’s Chief Financial Officer.
Additionally, effective as of the Closing of the Business Combination, Kuk Hyoun Hwang is the President and Chief Executive Officer of
the Company, Jun Chul Whang is Chief Legal Officer and Secretary, Gihyoun Bang is Chief Financial Officer and Sang Hoon Kim is Head of
Corporate Venture Capital.

Incentive Plan

As previously disclosed, at the Special Meeting, BLAC’s stockholders
approved the Company’s Incentive Plan. A description of the material terms of the Incentive Plan is set forth in the section of
the Proxy Statement/Prospectus titled “Proposal No. 4 - The Incentive Plan Proposal,” which is incorporated herein
by reference. This summary is qualified in its entirety by reference to the complete text of the Incentive Plan, a copy of which is attached
as Exhibit 10.5 to this Report.

Indemnification Agreements

On February 14, 2025, in connection with the
Closing, the Company entered into indemnification agreements with each of its directors and executive officers. Each indemnification
agreement provides for the indemnification and advancement by the Company of certain expenses and costs relating to claims, suits or
proceedings arising from service to the Company or, at its request, service to other entities, as officers or directors, to the maximum
extent permitted by applicable law. The foregoing summary is subject to and qualified in its entirety by reference to the Form of Indemnification
Agreement, which is filed hereto as Exhibit 10.4 and the terms of which are incorporated by reference herein to this Report.

Item
5.03. Amendments to Articles