Institutional Governance Document
Supervisory Board Charter
Entity: EL Engineering Industrial Holdings · Chairman: Spas G. Kostov
A. Purpose
The Supervisory Board provides independent oversight of the Company’s governance, strategy, compliance, and responsible AI usage.
B. Responsibilities
1. Governance Oversight
- —Ensure alignment with international regulatory standards
- —Oversee compliance with GDPR, EU AI Act, UK DPA, DIFC DP Law, and U.S. frameworks
- —Review governance policies annually
2. Strategic Supervision
- —Evaluate long-term strategy
- —Oversee private-capital and advisory activities
- —Approve major initiatives
3. AI Oversight
- —Ensure responsible AI usage
- —Validate human-in-the-loop processes
- —Approve AI governance policies
4. Risk Management
- —Oversee market, operational, AI-related, and cross-border risks
- —Review risk reports quarterly
5. Accountability
- —Ensure human validation of all AI outputs
- —Maintain transparency and ethical standards
C. Composition
- —Chairman: Spas G. Kostov
- —Additional members appointed as required
D. Meetings
- —Quarterly governance meetings
- —Annual compliance review
- —Extraordinary meetings as needed
E. Reporting
The Supervisory Board reports to shareholders and stakeholders through:
- —Annual Governance Report
- —Annual Compliance Report
- —AI Governance Statement