Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 102

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 7
Chunk 102
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ITEM
7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

A. Major Shareholders

See
“ Item 6. Directors, Senior Management and Employees - E. Share Ownership.”

B. Related Party Transactions

Agreements
related to the Business Combination

Investor
Rights Agreement

At
the closing of the Business Combination, we, Chenghe and other parties listed thereto entered into the Investor Rights Agreement, dated
as of January 15, 2025. Pursuant to the Investor Rights Agreement, we agreed to undertake certain resale shelf registration obligations
in accordance with the Securities Act and certain holders have been granted customary demand and piggyback registration rights. We further
agreed to pay certain fees and expenses relating to registrations under the Investor Rights Agreement.

Lock-Up
Agreement

At
the closing of the Business Combination, we and other parties listed thereto entered into the Lock-Up Agreement, dated as of January 15,
2025, pursuant to which, the parties listed thereto agreed to not to transfer any Lock-Up Shares (as defined in the Lock-Up Agreement)
for a period of six (6) months after the closing date, with certain exceptions and carveouts.

Assignment,
Assumption and Amendment to Warrant Agreement

On
January 15, 2025, FST, Chenghe and Continental Stock Transfer & Trust Company, as warrant agent (the “ Warrant Agent”),
entered into the Assignment, Assumption and Amendment to Warrant Agreement (the “ Warrant Amendment”) which amended that certain
Warrant Agreement, dated as of January 24, 2022, relating to the Chenghe warrants (the “ Warrant Agreement”). Pursuant
to the Warrant Amendment, (i) FST has assumed the obligations of Chenghe under the Warrant Agreement, such that, among other things,
FST has been added as a party thereto and (ii) references to Chenghe Class A ordinary shares in the Warrant Agreement means the
ordinary shares.

Related
Party Transactions of Femco and FST

Employment
Agreements, Insurance and Indemnification

See
“ Executive Compensation - Employment Agreements, Insurance and Indemnification

Equity
Incentive Plan

See
“ Executive Compensation - Equity Incentive Plans

Director
and Officer Indemnification

Our
amended and restated memorandum and articles of association provide for indemnification of our officers and directors, including for
any liability incurred in their