Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 153

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 6
Chunk 153
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 The terms of these agreements are substantially similar to each other. An executive officer may terminate his or her employment
at any time by prior written notice. We may terminate an executive officer’s employment for cause, at any time, without advance
notice or remuneration, for certain acts of the executive officer, such as bankruptcy, act of dishonesty or fraud, conviction of criminal
offence, breach of law or misconduct or negligence in the discharge of duties.

Each executive officer has
agreed to hold in strict confidence and not to use, except for our benefit, any proprietary information, technical data, trade secrets
and know-how of our company or the confidential or proprietary information of any third party, including our subsidiaries and clients,
received by us. Each of these executive officers has also agreed to be bound by noncompetition and non-solicitation restrictions during
the term of his or her employment and typically for six months following the last date of employment.

  Compensation  
 ────────────────

For the year ended December 31,
2024, we paid aggregate cash compensation of approximately US$0.86 million to our directors and executive officers as a group. We
do not pay or set aside any amounts for pensions, retirement or other benefits for our directors and executive officers.

2022 Share Incentive Plan

Upon the completion of the
Business Combination, we assumed the 2022 share incentive plan of Finfront to motivate, attract and retain the best available personnel,
provide additional incentives to employees, directors and consultants and promote the success of our business. Under the 2022 share incentive
plan (the “2022 Share Incentive Plan”), the maximum aggregate number of Ordinary Shares which may be issued pursuant to all
awards under such plan is 7,500,000, or the award pool. KASTLE LIMITED, a company incorporated in Hong Kong (“ Trustee”),
was engaged as the trustee of employee benefit trusts to administer share awards to be granted under the 2022 Share Incentive Plan. As
of December 31, 2024, 6,512,781 restricted shares had been granted under the 2022 Share Incentive Plan, with 10,919 restricted shares
forfeited.

The following paragraphs summarize
the principal terms of the 2022 Share Incentive Plan.

Types of awards. The
2022 Share Incentive Plan permits the awards of options, restricted shares, restricted share units or any other type of awards approved
by