Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 44

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 6
Chunk 44
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2, Ms. Cai has served as the Chief Financial Officer of Jowell Global Ltd., a Nasdaq-listed e-commerce platform. From
August 2019 to June 2022, Ms. Cai served as the Director of CN Energy Group Inc., a Nasdaq-listed company in the business of manufactures
and supplies wood-based activated carbon. From July 2019 to November 2020, Ms. Cai served as the Chief Financial Officer of China Eco-Materials
Group Co. Limited, a company in the business of production and sales of eco-friendly construction material. From October 2017 to July
22, 2019, Ms. Cai has served as manager of Wealth Financial Services LLC. From December 2013 to September 2017, Ms. Cai served as audit
manager at Friedman, LLP. From December 2006 to November 2013, Ms. Cai served as audit manager at Patrizio & Zhao, LLC. Ms. Cai graduated
from Jiangsu Radio & TV University with a major in Economic Management in December 2003.

Family Relationships

None of the directors or executive officers has
a family relationship as defined in Item 401 of Regulation S-K.

6. B. Compensation

Employment Agreements and Indemnification
Agreements

We have entered into
employment agreements with our senior executive officers. Pursuant to these agreements, we are entitled to terminate a senior executive
officer’s employment for cause at any time without remuneration for certain acts of the officer, such as being convicted of any
criminal conduct, any act of gross or willful misconduct or any serious, willful, grossly negligent or persistent breach of any employment
agreement provision, or engaging in any conduct which may make the continued employment of such officer detrimental to our company. Each
executive officer agrees that we shall own all the intellectual property developed by such officer during his or her employment.

We have entered into indemnification agreements
with each of our executive directors and executive officers. Under these agreements, we agree to indemnify them against certain liabilities
and expenses that they incur in connection with claims made by reason of their being a director or officer of our company. 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