Company: KOYNU
Filing Date: 2025-05-15
Form Type: DRS
Source: 0001829126-25-003675
Chunk: 260

Company: CSLM Digital Asset Acquisition Corp III, Ltd
Filing Date: 2025-05-15
Form: DRS
Chunk 260
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 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 three “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 Mr. Bradley, _______ and __________
_ 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

Commencing on the date
that our securities are first listed on Nasdaq through the earlier of consummation of our initial business combination and our liquidation,
we will pay our Sponsor, a monthly fee of $20,000 per month for office space and general and administrative services until the consummation
of an initial business combination. The officers and directors shall be entitled to reimbursement from the Company for their out-of-pocket
expenses incurred and advisory fees shall be paid to the directors and advisors in connection with certain activities on the Company’s
behalf.

Except as set forth above and in this paragraph, no compensation will be paid to our
Sponsor, executive officers and directors, or any of their respective affiliates,
prior to or in connection with the consummation of our initial business combination.
Additionally, these individuals will be reimbursed for any out-of-pocket expenses
incurred in connection with activities on our behalf such as identifying potential
target businesses and performing due diligence