Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 236

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 236
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 duty to exercise
their powers for the purposes they were conferred, (c) a duty to avoid fettering his or her discretion in the future and (d) a
duty to avoid conflicts of interest and of duty.

The common law duties owed
by a director are those to act with skill, and care and diligence that may reasonably be expected of a person carrying out the same functions
as are carried out by that director in relation to the company and, also, to act with the skill, care and diligence in keeping with a
standard of care commensurate with any particular skill they have which enables them to meet a higher standard than a director without
those skills. In fulfilling their duty of care to us, our directors must ensure compliance with our Articles, as amended and restated
from time to time. We have the right to seek damages where certain duties owed by any of our directors are breached.

Shareholder Action by Written Consent

Under the Delaware General
Corporation Law, a corporation may eliminate the right of shareholders to act by written consent by amendment to its Certificate of Incorporation
(“Certificate of Incorporation”). The Companies Act allows a special resolution to be passed in writing if signed by all
the voting shareholders (if authorized by the Memorandum and Articles of Association).

Shareholder Proposals

Under the Delaware General
Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with
the notice provisions in the governing documents. A special meeting may be called by the Board of Directors or any other person authorized
to do so in the governing documents, but shareholders may be precluded from calling special meetings.

The Companies Act does not
provide shareholders any right to bring business before a meeting or requisition a general meeting. However, these rights may be provided in a company’s Articles.

Cumulative Voting

Under the Delaware General
Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation’s Certificate of Incorporation
specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors
since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases
the shareholder’s voting power with respect to electing such director.

There are no prohibitions
in relation to cumulative voting under the Companies Act but our Amended and Restated Articles of Association do not provide for cumulative
voting.

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