Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 118

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 118
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 success fees to our initial stockholders, officers, directors or their affiliates for assisting us in consummating our initial business
combination. Other than these consulting, finder or success fees, no compensation of any kind will be paid by us to our initial stockholders,
executive officers and directors, or any of their respective affiliates, for services rendered prior to or in connection with the completion
of an initial business combination. However, these individuals 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 initial stockholders, officers, directors or our
or their affiliates.

After our initial business
combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company
with any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender offer or proxy solicitation
materials, as applicable, furnished to our stockholders. It is unlikely the amount of such compensation will be known at the time of distribution
of such tender offer materials or at the time of a stockholder meeting held to consider our initial business combination, as applicable,
as it will be up to the directors of the post-combination business to determine executive officer and director compensation.

We entered into a registration
rights agreement with respect to the founder shares and private placement warrants (and underlying securities).

Policy for Approval of Related Party Transactions

The audit committee of our
board of directors has adopted a policy setting forth the policies and procedures for its review and approval or ratification of “related
party transactions.” Pursuant to the policy, the audit committee will consider (i) the relevant facts and circumstances of each
related party transaction, including if the transaction is on terms comparable to those that could be obtained in arm’s-length dealings
with an unrelated third party, (ii) the extent of the related party’s interest in the transaction, (iii) whether the transaction
contravenes our code of ethics or other policies, (iv) whether the audit committee believes the relationship underlying the transaction
to be in the best interests of the company and its stockholders and (v) the effect that the transaction may have on a director’s
status as an independent member of the board and on his or her eligibility to serve on the board’s committees. Management will present
to the audit committee each proposed related