Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 117

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 6
Chunk 117
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 compensation committee report required by SEC rules, if and when required.                                                                                                              

Amendment to compensation committee
charter. On April 16, 2024, our Board of Directors authorized and approved an amendment to the Compensation Committee Charter (the
“ Compensation Committee Charter”) pursuant to which it adopted a compensation recovery policy (the “ Compensation Recovery
Policy”) and further approved that the Compensation Committee will have full authority and powers to implement the Compensation
Recovery Policy. The Compensation Committee Charter provides the members of the Compensation Committee with authorization and authority
to carry out such duties and responsibilities associated with the Compensation Recovery Policy. The Compensation Committee shall, in the
event of a restatement of the Company’s financial statements, have the authority and power to: (i) determine such executive officers
who served at any time during the performance period for the incentive-based compensation; (ii) determine the relevant recovery period;
(iii) determine the amount of incentive-based compensation that must be subject to the Company’s Compensation Recovery Policy and
establish procedures for recovery; (iv) maintain documentation of the above-referenced determinations; and (v) prepare and have filed
all disclosures with respect to the Compensation Recovery Policy in accordance with U. S. securities laws, including the disclosure required
by the applicable SEC filings.

For additional information regarding
our Compensation Recovery Policy, please refer to Exhibit 4.7 to our Annual Report on Form 20-F filed with the SEC on April 29, 2024.

Nomination committee

Wang Zhiyong, Zhang Peng and
Dai Lei, all of whom are Independent Non-Executive Directors, serve on the nomination committee, which will be chaired by Wang Zhiyong.
Our Board of Directors has determined that each member of the nomination committee is “independent” as defined in applicable
Nasdaq rules. The nomination committee’s responsibilities include:

  developing and recommending to the Board of Directors criteria for Board and committee membership;                                                          
  establishing procedures for identifying and evaluating director candidates, including nominees recommended by shareholders; and                             
  reviewing the composition of the Board of Directors to ensure that it is composed of members containing the appropriate skills and expertise to advise us.  

  71  

While we do not have a formal
policy regarding board diversity, our nomination committee and Board of Directors will consider a broad range of factors relating to the
qualifications and background of nominees, which may include diversity (not limited to race, gender or national origin). Our nomination
committee’s