Company: TBMC
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002139
Chunk: 339

Company: Trailblazer Merger Corp I
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 339
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 In accordance with Nasdaq corporate
governance requirements, we are not required to hold an annual meeting until one year after our first fiscal year end following our listing
on Nasdaq. The term of office of the first class of directors, consisting of Barak Avitbul, and Olga Castells, will expire at our first
annual meeting of stockholders. The term of office of the second class of directors, consisting of Patrick Donovan, and Arie Rabinowitz,
will expire at the second annual meeting of stockholders. The term of office for the third class of directors consisting of Joseph Hammer,
will expire at the third annual meeting of stockholders.

Our officers are appointed
by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of
directors is authorized to appoint persons to the offices set forth in our bylaws as it deems appropriate. Our bylaws provide that our
officers may consist of a Chairman of the Board, a Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary,
Treasurer, Assistant Secretaries and such other offices as may be determined by the board of directors.

Director Independence

Nasdaq requires that a majority
of our board must be composed of “independent directors,” which is defined generally as a person other than an officer or
employee of the company or its subsidiaries or any other individual having a relationship, which, in the opinion of the company’s
board of directors would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of
a director.

Barak Avitbul, Olga Castells,
and Patrick Donovan are our independent directors.

Our independent directors will
have regularly scheduled meetings at which only independent directors are present.

We will only enter into transactions
with our officers and directors and their respective affiliates that are on terms no less favorable to us than could be obtained from
independent parties. Any related-party transactions must be approved by our audit committee and a majority of disinterested directors..

Committees of the Board of Directors

Our board of directors has
two standing committees: an audit committee and a compensation committee. Subject to phase-in rules and a limited exception, Nasdaq rules
and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors,
and Nasdaq rules require that the compensation committee of a listed company be comprised solely of independent directors.

22

Audit Committee

Our