Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 231

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 231
---
entures, debenture stock, bonds and other securities, whether outright or as collateral security for any debt, liability or obligation of the Company or of any third party. Qualification There are no share ownership qualifications for directors. There are no other arrangements or understandings pursuant to which our directors are selected or nominated. Director Compensation All directors hold office until the next annual meeting of shareholders at which their respective class of directors is re -electedand until their successors have been duly elected and qualified. Officers are elected by and serve at the discretion of the board of directors. Employee directors do not receive separate compensation for their services as directors. Non -employeedirectors are entitled to receive an as -yetundetermined cash fee for serving as directors and may receive option grants from our company. In addition, directors are entitled to receive compensation for their actual travel expenses for each board of directors meeting attended. 140 Involvement in Certain Legal Proceedings To the best of our knowledge, none of our directors or officers has been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors, nor has any been a party to any judicial or administrative proceeding during the past five years that resulted in a judgment, decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws, except for matters that were dismissed without sanction or settlement. Except as set forth in our discussion below in “Related Party Transactions,” our directors and officers have not been involved in any transactions with us or any of our affiliates or associates which are required to be disclosed pursuant to the rules and regulations of the SEC. 141 DIRECTOR AND EXECUTIVE COMPENSATION We currently do not have a compensation committee approving our salary and benefit policies. We will have a compensation committee upon the Company’s listing on Nasdaq. Our board of directors determined the compensation to be paid to our executive officers based on our financial and operating performance and prospects, and contributions made by the officers to our success. Each of the named officers is expected to be measured by a series of performance criteria by the board of directors, or the compensation committee on a yearly basis. Such criteria are expected to be set forth based on certain objective parameters such as job characteristics, required professionalism, management skills, interpersonal skills, related experience, personal performance and overall corporate performance. Our board of directors has not adopted or established a formal policy or procedure for determining the amount of compensation paid to our executive officers. The board