Company: CAAS
Filing Date: 2025-08-04
Form Type: 424B3
Source: 0001104659-25-073486
Chunk: 107

Company: China Automotive Systems, Inc.
Filing Date: 2025-08-04
Form: 424B3
Chunk 107
---
 the 2004 Stock Option Plan; (ii) to select the employees and consultants
to whom options may from time to time be granted; (iii) to determine whether and to what extent options are granted; (iv) to
determine the number of shares of common stock to be covered by each award granted; (v) to approve the form(s) of agreement(s) used
under the 2004 Stock Option Plan; (vi) to determine the terms and conditions, not inconsistent with the terms of the 2004 Stock
Option Plan, of any award granted hereunder, which terms and conditions include but are not limited to the exercise or purchase price,
the time or times when awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture
restrictions, any pro rata adjustment to vesting as a result of a participant’s transitioning from full- to part-time service (or
vice versa), and any restriction or limitation regarding any option, optioned stock or restricted stock issued upon exercise of an option,
based in each case on such factors as the administrator, in its sole discretion, shall determine; (vii) to determine whether and
under what circumstances an option may be settled in cash instead of common stock; (viii) to adjust the vesting of an option held
by an employee or consultant as a result of a change in the terms or conditions under which such person is providing services to the
Company; (ix) to construe and interpret the terms of the 2004 Stock Option Plan and awards granted under the 2004 Stock Option Plan,
which constructions, interpretations and decisions shall be final and binding on all participants; and (x) in order to fulfill the
purposes of the 2004 Stock Option Plan and without amending the 2004 Stock Option Plan, to modify grants of options to participants who
are foreign nationals or employed outside of the United States in order to recognize differences in local law, tax policies or customs.

Award Agreement.Awards granted under the
2004 Stock Option Plan are evidenced by an award agreement that sets forth terms, conditions and limitations for each award.

Eligibility. Nonstatutory stock options
may be granted to Employees and Consultants. Incentive stock options may be granted only to Employees, provided that Employees of Affiliates
shall not be eligible to receive Incentive stock options. “Employee” means any person employed by the Company or any parent,
subsidiary or