P&F Industries, Inc. Audit Committee Charter

P&F INDUSTRIES, INC.AUDIT COMMITTEE CHARTERPurposeThe Audit Committee (the “Audit Committee”) of the Board of Directors of P&F Industries, Inc.(the “Company”) is appointed by the Board of Directors to assist the Board of Directors infulfilling its oversight responsibilities relating to (i) corporate accounting, disclosure andfinancial reporting processes and practices and legal and regulatory compliance of the Company,(ii) the quality and integrity of the Company’s financial statements and (iii) the qualifications,independence and performance of the Company’s internal audit function and independentauditors.OrganizationThe Audit Committee shall be comprised of not less than three members of the Board ofDirectors who shall meet the compensation, independence, experience, financial expertise andother requirements of the National Association of Securities Dealers, Inc. (the “NASD”) andapplicable federal and state securities laws and regulations. The members of the AuditCommittee shall be appointed by the Board of Directors from time to time after considering therecommendation of the Company’s Nominating Committee and upon a determination by theBoard of Directors that the nominees meet all required qualifications for Audit Committeemembership. The members of the Audit Committee may be removed by the Board of Directors.The Nominating Committee will recommend to the Board of Directors, and the Board ofDirectors will designate, the Chairman of the Committee ...