Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 150

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 6
Chunk 150
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 degree from Brand University of Applied
Sciences in Germany. He is currently pursuing a Ph. D. degree in Economics at Imperial College London in the United Kingdom.

Ruizhong Jiangis an independent director of the Company and as the Chairman of the Nominating Committee and a member of the Compensation Committee and
the Audit Committee of the Board of the Company. As a highly respected expert in the field of oil and natural gas engineering, Dr. Jiang
is a member of the International Society of Petroleum Engineers and China Petroleum Society. He has served as a lecturer, professor and
doctoral tutor in China University of Petroleum and has received numerous acclaims and awards on his research and education in oil and
natural gas engineering. Dr. Jiang holds a Ph. D. degree in Oil and Gas Development Engineering from Southwest Petroleum University and
a master’s degree in Oil and Gas Development Engineering from China University of Petroleum.

Limitation on Liability and Other Indemnification Matters

The Companies Act does not limit the extent to which the Eighth Amended
and Restated Memorandum and Articles of Association may provide for indemnification of officers and directors, except to the extent any
such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil
fraud or the consequences of committing a crime. Our Eighth Amended and Restated Memorandum and Articles of Association permit indemnification
of officers and directors for losses, damages, costs and expenses incurred in their capacities as such unless such losses or damages arise
from dishonesty of such directors or officers willful default of fraud. This standard of conduct is generally the same as permitted under
the Delaware General Corporation Law for a Delaware corporation.

Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing
provisions, we have been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.

B. Compensation of Directors and Executive Officers

Executive Compensation

Summary Compensation Table

For
the fiscal year ended December 31, 2024, we paid an aggregate of approximately US$484,614 in cash and benefits to our directors and
executive officers. The following table sets forth all cash compensation paid by us, as well as certain other compensation paid or
accrued, for the fiscal year ended December 31, 2024, 202