展品97.1
MARIS-TECH有限公司（以下簡稱「公司」）
追回政策
自2023年11月8日起生效
背景
公司董事會（”板”) 認爲創造和維持強調誠信的文化符合公司及其股東的最大利益 和問責制，這強化了公司的績效薪酬理念。的薪酬委員會 董事會（”薪酬委員會”）因此，董事會通過了這項政策，規定了補償 （或回扣）某些高管薪酬，以應對因財務狀況嚴重不合規而導致的會計重報 美國聯邦證券法規定的報告要求（”政策”）。本政策是精心設計的 遵守經修訂的1934年《證券交易法》第10D條（”《交易法》”），頒佈了細則10D-1 根據《交易法》（”細則10D-1”）和納斯達克股票市場的上市標準（”納斯達”) 根據納斯達克上市規則5608。此外，本政策旨在遵守以色列公司法 5759-1999 的要求 （這個”公司法”）關於公司薪酬政策中應包含的回扣條款， 可能會不時修改。
管理
此政策應由薪酬委員會負責執行。薪酬委員會做出的任何決定應對所有受影響的個人具有最終和約束力。在適用法律的任何限制下，薪酬委員會可以授權和授權公司的任何官員或員工採取一切必要或適當的行動，以實現本政策的目的和意圖（“授權官員”）（除了涉及該官員或員工的本政策下任何收回的情況）。
被覆蓋高管
這項政策適用於公司現任和前任執行官，由董事會根據《交易所法》第10D條和納斯達克的上市標準確定被覆蓋高管”).
追回；財務重述
如果公司因未遵守任何證券法的任何財務報告要求而需要編制基本報表的會計重新報告，薪酬委員會將要求在公司需要編制會計重新報告之前三個已經完成的財政年度內由任何被覆蓋的執行官收到的任何超額激勵薪酬（如下定義）進行及時返還或沒收。爲明確起見，如果任何重新報告糾正了先前發佈的財務報表中重大的錯誤；或者糾正了先前發佈的財務報表中不重要的錯誤，但如果（i）該錯誤在當時的期間未糾正，將導致重大錯誤陳述；或者（ii）該錯誤是在當時的期間已經認可的糾正錯誤起，則需要收回。公司收回錯誤授予的薪酬的義務並不取決於重新報告的財務報表何時或是否被提交。爲確定相關的收回期間，公司被要求按照上述情況進行會計重新報告的日期早於以下情況之一的發生：（A）委員會，董事會的一個委員會，受權執行官或公司授權採取這種行動的官員，當不需要董事會採取行動時，得出結論或合理地應該得出結論即公司需要按照上述情況編制會計重新報告；或（B）法庭，監管機構或其他合法授權機構指示公司按上述情況準備會計重新報告的日期。根據納斯達克規則5608（e），本政策適用於2023年10月2日或之後收到的激勵薪酬（如下所述）。
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激勵補償
根據本政策的規定，「激勵報酬」指的是以下任何一項，前提是該報酬是根據重新聲明的基本報表受影響的財務報表指標完全或部分授予、賺取或獲得的：基本報表受影響的財務報表指標完全或部分會被重新陳述的情況下，已授予、賺取或獲得的激勵報酬：
| ● | 年度獎金和其他短期和長期現金激勵。 |
| ● | 期權股權激勵 |
| ● | 股份認同權 |
| ● | 限制性股份 |
| ● | 限制性股權單位 |
| ● | 績效股份 |
| ● | 績效單位 |
財務信息指根據編制本公司財務報表使用的會計原則確定和呈現的措施，以及完全或部分源自這種措施的任何措施。股價和總股東回報也是財務信息措施。財務信息措施不必在財務報表中呈現，也不必包含在向證券交易所交易委員會的提交中。公司的財務信息措施可能包括但不限於以下內容：
| ● | 公司股價 |
| ● | 股東總回報 |
| ● | 收入 |
| ● | 本期淨收入（淨虧損） |
| ● | 利息、稅、折舊和攤銷前利潤（EBITDA） |
| ● | 運營資金、營業現金流或自由現金流等流動性指標 |
| ● | 投入資本回報率或資產回報率等回報指標 |
| ● | 每股收益等收益指標 |
| ● | 本政策適用於所有覆蓋高管獲得的激勵報酬： |
在成爲高管後收到的激勵報酬；
| ● | 開始擔任執行官後; |
| ● | 在激勵報酬的執行期間任何時候擔任過執行官的是誰; |
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| ● | 公司在國家證券交易所或國家證券協會上市了一類證券；並且 |
| ● | 在公司被要求準備會計重新覈算的日期之前的三個已完成的財政年度內。除這最後三個完成的財政年度外，本政策還適用於這三個完成的財政年度內或緊接着這些完成的財政年度內的任何過渡期（由於公司財政年度變更而導致）。然而，在公司上一個財政年度結束的最後一天和其新財政年度的第一天之間組成的九到十二個月的過渡期將被視爲一個已完成的財政年度。 |
激勵補償被視爲在公司財政期間內收到，該期間內在激勵補償獎勵中指定的財務報告指標達成，儘管激勵補償的支付或授予可能在該期間結束後進行。
超額激勵補償：可追索的金額
The amount to be recovered will be the excess of the Incentive Compensation paid to the Covered Executive based on the erroneous data over the Incentive Compensation that would have been paid to the Covered Executive had it been based on the restated results, as determined by the Compensation Committee, and without regard to any taxes paid by or withheld from the Covered Executive. If the Compensation Committee cannot determine the amount of excess Incentive Compensation received by the Covered Executive directly from the information in the accounting restatement, then it will make its determination based on a reasonable estimate of the effect of the accounting restatement. For Incentive Compensation based on share price or total shareholder return, where the amount of erroneously awarded compensation is not subject to mathematical recalculation directly from the information in an accounting restatement, the amount will be based on a reasonable estimate of the effect of the accounting restatement on the share price or total shareholder return upon which the Incentive Compensation was received. In such case, the Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to Nasdaq.
Method of Recoupment
The Compensation Committee will determine, in its sole discretion, the method for recouping Incentive Compensation hereunder which may include, without limitation:
| ● | Requiring reimbursement of cash Incentive Compensation previously paid; |
| ● | Seeking recovery of any gain realized on the vesting, exercise, settlement, sale, transfer, or other disposition of any equity-based awards; |
| ● | Offsetting the recouped amount from any compensation otherwise owed by the Company to the Covered Executive in accordance with applicable law; |
| ● | Cancelling outstanding vested or unvested equity awards; and/or |
| ● | Taking any other remedial and recovery action permitted by law, as determined by the Compensation Committee |
No Indemnification
The Company shall not indemnify any Covered Executives against the loss of any Incentive Compensation recovered under this Policy or from any consequence arising therefrom.
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Interpretation
The Compensation Committee is authorized to interpret and construe this Policy and to make all determinations necessary, appropriate or advisable for the administration of this Policy. It is intended that this Policy be interpreted in a manner that is consistent with the requirements of Section 10D of the Exchange Act, Rule 10D-1 and any applicable rules or standards adopted by the Securities and Exchange Commission or Nasdaq and the Companies Law.
Effective Date
This Policy shall be effective as of the date it is adopted by the Board (the “Effective Date”) and, in accordance with Nasdaq Rule 5608(e), shall apply to Incentive Compensation that is received by Covered Executives on or after October 2, 2023.
Amendment; Termination
The Board may amend this Policy from time to time in its discretion and shall amend this Policy as it deems necessary to reflect regulations adopted by the Securities and Exchange Commission under Section 10D of the Exchange Act and to comply with any rules or standards adopted by Nasdaq. The Board may terminate this Policy at any time.
Other Recoupment Rights
The Board intends that this Policy will be applied to the fullest extent of applicable law. The Board and/or Compensation Committee may require that any employment agreement, equity award agreement, or similar agreement entered into or amended on or after the Effective Date shall, as a condition to the grant of any benefit thereunder, require a Covered Executive to agree to abide by the terms of this Policy. Any right of recoupment under this Policy is in addition to, and not in lieu of: (a) any other remedies or rights of recoupment that may be available to the Company pursuant to the terms of any similar policy in any employment agreement, equity award agreement or similar agreement and any other legal remedies available to the Company, including termination of employment or institution of legal proceedings; and (b) any statutory recoupment requirement, including Section 304 of the Sarbanes-Oxley Act of 2022. For the avoidance of doubt, any amounts paid to the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2022 shall be considered (and may be credited) in determining any amounts recovered under this Policy.
Impracticability
The Compensation Committee shall recover any excess Incentive Compensation in accordance with this Policy unless such recovery would be impracticable, as determined in accordance with Rule 10D-1(b)(1)(iv) under the Exchange Act and the listing standards of Nasdaq. In order for the Company to determine that recovery would be impracticable, the Company’s Compensation Committee must conclude the following:
| a) | The direct expense paid to a third party to assist in enforcing this Policy would exceed the amount to be recovered after making a reasonable attempt to recover such Incentive Compensation. Note that the attempt(s) to recover must be documented by the Company and such documentation provided to Nasdaq; |
| b) | Recovery would violate home country law where that law was adopted prior to November 28, 2022. Note that the Company must obtain a legal opinion of home country counsel that such recovery would result in a violation of local law and provide such opinion to Nasdaq; or |
| c) | Recovery would likely cause an otherwise tax-qualified retirement plan under which benefits are broadly available to Company employees to fail to meet the requirements for qualified pension, profit-sharing and stock bonus plans under Section 401(a)(13) of the U.S. Internal Revenue Code or the minimum vesting standards under Section 411(a) of the U.S. Internal Revenue Code. |
Successors
This Policy shall be binding and enforceable against all Covered Executives and their beneficiaries, heirs, executors, administrators or other legal representatives.
Exhibit Filing
A copy of this Policy shall be filed as an exhibit to the Company’s annual report on Form 20-F.
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ATTESTATION AND ACKNOWLEDGEMENT OF CLAWBACK POLICY FOR MARIS-TECH LTD. (the “Company”)
[month] [day], 2023
Maris-Tech Ltd.
2 Yitzhak Modai Street
Rehovot, Israel 7608804
Dear Sir or Madam:
Re: Clawback Policy Side Letter
Reference is made to the Clawback Policy effective as of November 8, 2023 (as it may be amended from time to time, the “Policy”), of Maris-Tech Ltd. (the “Company”), which provides for the recoupment (or clawback) of certain executive compensation in the event of an accounting restatement resulting from material noncompliance with financial reporting requirements under the federal securities laws of the United States.
By my signature below, I hereby:
| ● | I acknowledge that I have received and read the Policy; |
| ● | I agree to abide by all of the terms of the Policy both during and after my [employment] [consulting] relationship with the Company; |
| ● | I acknowledge and agree that any compensation or grants received pursuant to my [employment] [consulting] agreement with the Company, dated [add date], and pursuant to any Company equity compensation plan and grant agreements thereunder, as well as under any other arrangements, whether oral or written, are and shall continue to be subject to the terms of the Policy; |
| ● | I hereby waive any claim against the Company, its Authorized Officers and the Board in connection with the implementation of the Policy. |
| Signature: | ||
| Printed Name: | ||
| Date: |
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