Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 90

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 6
Chunk 90
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         Board for approval and propose changes thereto, or approving the work plan; and      
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●                                             determining                                          
              whether certain related-party transactions are “material” or “extraordinary”         
        for the purpose of the requisite approval procedures under the Companies Law and whether   
    certain transactions with a controlling shareholder must be subject to a competitive procedure.
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Compensation Committee

Companies Law Requirements

Under the Companies Law, the board of directors of a public company must appoint a compensation committee. The compensation committee must be comprised of at least three directors. We have elected to opt out from the Companies Law requirements to appoint external directors and related Companies Law rules concerning the composition of the audit committee and compensation committee. See “Item 6.C Directors, Senior Management and Employees—Board Practices— External Directors.”

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Listing Requirements

Under the corporate governance rules of the Nasdaq, we are required to maintain a compensation committee consisting of at least two independent directors.

Our compensation committee consists of Michael Donnelly, Danny Allouche, Alexander Babitsky and Ezriel Jesse Klein. Ezriel Jesse Klein serves as chairperson of the compensation committee. The Board has determined that each member of our compensation committee is independent under the corporate governance rules of the Nasdaq, including the additional independence requirements applicable to the members of a compensation committee.
Compensation Committee Role

In accordance with the Companies Law, the roles of the compensation committee are, among others, as follows:

●                                            making                                         
    recommendations to the Board with respect to the approval of the compensation policy for
     office holders and, once every three years, regarding any extensions to a compensation 
                 policy that was adopted for a period of more than three years;             
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●                                          reviewing                                        
    the implementation of the compensation policy and periodically making recommendations to
        the Board with respect to any amendments or updates to the compensation policy;     
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●                                           resolving                                        
    whether or not to approve arrangements with respect to the terms of office and employment
                                      of office holders; and                                 
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●                                             exempting,                                         
    under certain circumstances, a transaction with our chief executive officer from the approval
                                         of our shareholders.                                    
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An “office holder” is defined in the Companies Law as a chief executive officer (referred to in the Companies Law as a general manager), chief business manager, deputy chief executive officer, vice chief executive officer, any other person assuming the responsibilities of any of these positions regardless of that person’s