Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 748

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 748
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 Board has determined
that Ronald McClurg is an audit committee financial expert within the meaning of Item 407(d) of Regulation S-K under the Securities Act
of 1933, as amended, or the Securities Act. The audit committee’s duties, which are specified in our Audit Committee Charter, include,
but are not limited to:

    ●
    reviewing and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board whether the audited financial statements should be included in our annual disclosure report;

    ●
    discussing with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation of our financial statements;

    ●
    discussing with management major risk assessment and risk management policies;

    ●
    monitoring the independence of the independent auditor;

    ●
    verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law;

    ●
    reviewing and approving all related-party transactions;

    ●
    inquiring and discussing with management our compliance with applicable laws and regulations;

    ●
    pre-approving all audit services and permitted non-audit services to be performed by our independent auditor, including the fees and terms of the services to be performed;

    ●
    appointing or replacing the independent auditor;

    ●
    determining the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or related work;

    ●
    establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies; and

    ●
    approving reimbursement of expenses incurred by our management team in identifying potential target businesses.

The audit committee is composed exclusively of
“independent directors” who are “financially literate” as defined under the Nasdaq listing standards. The Nasdaq
listing standards define “financially literate” as being able to read and understand fundamental financial statements, including
a company’s balance sheet, income statement and cash flow statement.

50

Compensation Committee

We have established a compensation committee of
the board of directors to consist of Dave Rosa, and Ronald McClurg each of whom is an independent director. Dave Rosa is the Chairman
of the Compensation Committee. Each member of our compensation committee is also a non-employee director,