Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1635

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 7A
Chunk 1635
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 officers and directors of the Company, including Kuk Hyoun Hwang,
have interests in the business combination with OSR as individuals that are in addition to, and that may be different from, the interests
of Company stockholders. Mr. Hwang is the Chief Executive Officer and a member of the Board of Directors of the Company and Chairman
of the Board of OSR. The Board of Directors of the Company formed a separate committee (the “M&A Committee”), consisting
of independent directors, to review and consider these interests during the negotiation of the Business Combination Agreement, the A&R
BCA, and the First Amendment to the A&R BCA and in evaluating and unanimously approving, as members of the Company Board, the Business
Combination Agreement, the A&R BCA and the First Amendment to the A&R BCA.

Director Independence 

Nasdaq listing standards require that a majority of our board of directors
be independent. 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. Our board of
directors has determined that each of Drs. Reed, Roberts and Chung and Mr. Park is an “independent director” as defined
in the Nasdaq listing standards and applicable SEC rules. Our board of directors also determined that Mr. Euh, who resigned from
the Board effective June 21, 2023, was independent. Our independent directors will have regularly scheduled meetings at which only
independent directors are present.

Item 14.	Principal Accountant Fees and Services

The following is a summary of fees paid or to be paid to WithumSmith+Brown,
PC, or Withum, for services rendered.

Audit Fees. Audit fees consist of fees for professional services
rendered for the audit of our year-end financial statements and services that are normally provided by Withum in connection with regulatory
filings. The aggregate fees of Withum for professional services rendered for the audit of our financial statements and other required
filings with the SEC for the fiscal year ended December 31, 2024 totaled approximately $152,940 . The aggregate fees of Withum for
professional services rendered for the audit of our financial statements and other required filings with the SEC for the fiscal year
ended December