Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 134

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 134
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, losses or liabilities incurred by such director or officer in defending (whether successfully or otherwise) any civil proceedings concerning FST or its affairs in any court whether in the Cayman Islands or elsewhere. 96 Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling our company under the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Board of Directors The number of our board of directors shall not be less than five (5) directors and there shall no maximum number of directors, unless otherwise determined by the shareholders in general meetings. Following the completion of the Business Combination, our board of directors was reconstructed to consist of seven directors. Pursuant to the Investor Rights Agreement (the form of which is attached to this prospectus), one of our directors is nominated by the Sponsor, and at least four of our directors are independent. Further, for so long as the Sponsor Parties beneficially own any Ordinary Shares, FST is required to take all necessary action to cause the individuals nominated by the Sponsor to be elected at the applicable meetings of shareholders of FST. Arrangements for Election of Directors In connection with the Business Combination, three of the non -independentdirectors will be nominated by FST’s major shareholders: Japan Brand Business LLC, Far East Machinery Co. Ltd., and FST Chairman and major shareholder, David Chuang. Two of the independent directors will be nominated by FST Chairman and major shareholder David Chuang. One independent director will be nominated by FST’s major shareholder Far East Machinery Co. Ltd., and one by the New SPAC Sponsor. Appointment of Directors Our directors shall, be elected by the shareholders by way of any special resolution to either fill a casual vacancy or as an addition to the existing directors. The board of directors shall have power at any time to appoint any person as a director, either to fill casual vacancy or as an addition to the existing directors. Any director may in writing appoint another person to be such director’s alternate, with the alternate having the authority to act in the director’s place at any meeting at which the appointing director is unable to be present. A director may, but is not required to, appoint another director to be an alternate. Removal of Directors A director may be removed from office by special resolution of FST before the expiration of his period of office. A director will also cease to be a