Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 46

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 46
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jing Audit University in 2005 and is currently a member of the American Institute of Certified Public Accountants
as well as a fellow member of the Association of Chartered Certified Accountants.

Employment agreements and indemnification
agreements

We have entered into employment
agreements with each of our executive officers immediately prior to the consummation of the Business Combination. Under these agreements,
each of our executive officers is employed for a five-year period. We may terminate an executive officer’s employment for cause,
at any time, without notice or remuneration, for certain acts of the officer, including but not limited to incapacity to fulfill job responsibilities,
breach of internal procedures or regulations which cause material damage to PubCo or breach of obligation of confidentiality.

An executive officer may
terminate his/her employment at any time with 30 days prior written notice.

Each executive officer has
agreed to hold, both during and after the employment agreement expires or is earlier terminated, in strict confidence and not to use,
except for our benefit, any confidential information of PubCo. In addition, all of our executive officers have agreed to be bound by the
non-competition agreements entered into between such executive officers and PubCo.

In addition, we have entered
into indemnification agreements with our directors and executive officers. Under these indemnification agreements, we have agreed to indemnify
our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made
by reason of them being our directors or executive officers.

B. Compensation

In the fiscal year ended
June 30, 2024, the aggregate cash compensation paid by Scage International to directors and executive officers was approximately RMB1.2
million (US$0.2 million). This amount consisted only of cash and did not include any share-based compensation or benefits in kind. Each
of Scage International’s directors and officers is entitled to reimbursement for all necessary and reasonable expenses properly
incurred in the course of employment or service. Scage International pays or sets aside amounts for pension, retirement or other benefits
for its directors and officers, pursuant to a PRC government-mandated multi-employer defined contribution plan.

As of the date of this Report,
we have not paid compensation to our executive officers and directors.

C. Board Practices

Board composition

The primary responsibility
of the Board is to provide oversight, strategic guidance, counseling and directions to the PubCo’s management. PubCo’s Board
consists of seven directors upon the consum