Company: DAAQ
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0001213900-25-038444
Chunk: 2

Company: Digital Asset Acquisition Corp.
Filing Date: 2025-05-01
Form: 8-K
Item: Item 3.02
Chunk 2
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 Mr. Trowbridge are independent directors. Effective April 30, 2025, Ms. Smith, Ms. Rettig and Mr. Trowbridge were appointed
to the Board’s Audit Committee and Mr. Trowbridge and Ms. Rettig were appointed to the Board’s Compensation Committee, with
Mr. Trowbridge serving as chair of the Audit Committee and chair of the Compensation Committee.

Following the appointment
of Ms. Smith, Ms. Rettig and Mr. Trowbridge, the Board is comprised of three classes. The term of office of the first class of directors,
Class I, consisting of Ms. Smith, will expire at the Company’s first annual meeting of shareholders. The term of office of the second
class of directors, Class II, consisting of Ms. Rettig and Mr. Trowbridge, will expire at the Company’s second annual meeting of
shareholders. The term of office of the third class of directors, Class III, consisting of Jeffrey Tuder and Peter Ort, will expire at
the Company’s third annual meeting of shareholders.

On
April 28, 2025, in connection with their appointments to the Board, each of the members of the Board entered into the Letter Agreement
as well as an indemnity agreement with the Company in the form previously filed as Exhibit 10.6 to the Registration Statement. In addition, each of Ms. Smith, Ms. Rettig and Mr Trowbridge received 25,000 Class B ordinary shares of the Company as compensation for
their service as directors to the Company.

Other
than the foregoing, none of the directors are party to any arrangement or understanding with any person pursuant to which they were appointed
as directors, nor are they party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company.

The
foregoing descriptions of the Letter Agreement and the form of indemnity agreement do not purport to be complete and are qualified in
their entireties by reference to the Letter Agreement and form of indemnity agreement, copies of which are attached as Exhibit 10.1 hereto
and Exhibit 10.6 to the Registration Statement, respectively, and are incorporated herein by reference.

Item 5.03. Amendments to Certificate of Incorporation or Bylaws;
Change in Fiscal Year.

On
April 28, 2025, in connection with the IPO, the Company adopted its Amended and Restated Memorandum and Articles of Association (the