Company: KOYNU
Filing Date: 2025-07-31
Form Type: S-1/A
Source: 0001829126-25-005627
Chunk: 286

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-07-31
Form: S-1/A
Chunk 286
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 and remove
members of the board of directors for any reason, and holders of our public shares will not have the right to vote on the appointment
of directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended
by a special resolution passed by the holders of a majority of at least 90% of our ordinary shares attending and voting in person or
by proxy in a general meeting. Each of our directors will hold office for a two-year term. Subject to any other special rights applicable
to the shareholders, any vacancies on our board of directors may be filled by the affirmative vote of a majority of the directors present
and voting at the meeting of our board of directors or by a majority of the holders of our ordinary shares (or, prior to our initial
business combination, holders of our founder shares). Our executive officers are elected 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 executive officers may consist of a Chairman, a Chief Executive
Officer, a President, a Chief Financial Officer, Vice Presidents, a Secretary, Assistant Secretaries, a Treasurer and such other offices
as may be determined by the Board of Directors.

Director Independence

Nasdaq listing standards
require that a majority of our board of directors be independent within one year of our initial public offering. An “independent
director” 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. Upon the effectiveness of the registration statement of which
this prospectus forms a part, we expect to have five “independent directors” as defined in the Nasdaq listing standards and
applicable SEC rules prior to completion of this offering. Our board has determined that each of Christopher Bradley, Mathew August,
Brian Rudick, Danel Calvillo Armendariz and Dr. Jim Kyung Soo Liew is an independent director under applicable SEC rules and the Nasdaq
listing standards.

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

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Executive Officer and Director Compensation

Comm