Company: SUND
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001641172-25-017143
Chunk: 157

Company: Sundance Strategies, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 157
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” above;

Corporate
Governance

Overview

Our
Bylaws provide that the size of our Board is to be determined by resolution of the Board. Our Board has fixed the exact number of directors
at four. Our Board currently consists of four members.

We
are subject to a number of technological, regulatory, product, legal and other types of risks. The Board is responsible for overseeing
these risks, and we employ a number of procedures to help them carry out that duty. For example, Board members regularly consult with
executive management about pending issues and expected challenges, and at each Board meeting directors receive updates from, and have
an opportunity to interview and ask questions of, key personnel and management. Furthermore, because our President serves as a member
of our Board, we believe that the Board has a direct channel and better access to insights into our performance, business and challenges.

Board
Leadership Structure

The
Board does not have a policy regarding the separation of the roles of Chief Executive Officer and Chairman of the Board as the Board
believes it is in the best interests of the Company to make that determination based upon the position and direction of the Company and
the membership of the Board. The Board has determined at this time that the Company’s Chairman should not be its President.

The
Board has determined that of the current directors or nominees, Messrs. Higginson, Dickman and Quesenberry would qualify as independent
directors as that term is defined in the listing standards of The NASDAQ Capital Market if we were listed on The NASDAQ Capital Market.
Such independence definition includes a series of objective tests, including that the director is not an employee of the Company and
has not engaged in various types of business dealings with the Company. As Mr. Pearson is also employed by the Company, the Board has
determined that Mr. Pearson is not currently independent. Although the Company’s common stock is not listed on The NASDAQ Capital
Market, the Company has applied The NASDAQ Capital Market independence rules to make its independence determinations.

Committees
of the Board of Directors

The
Board has not established an Audit Committee, a Compensation Committee or a Nominating Committee. Therefore, the Board has not adopted
written charters for any of these committees. Because we have only four directors and one executive officer, we believe that we are able
to effectively manage the issues normally considered by such committees. The Board also does not have an audit committee financial expert.
We believe we are