Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 123

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 6
Chunk 123
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 Directors’ Agreements,
the initial annual salary that is payable to each of our directors is as follows:

  Huang              HK$      48,000  
  Wang               HK$      48,000  
  Li                 HK$      48,000  
  Wang               HK$      12,000  
  Wu                 HK$      12,000  
  Zhang              HK$      12,000  
  Dai                HK$      12,000  

Other
than as disclosed above, none of our directors has entered into a service agreement with our Company or any of our subsidiaries that provides
for benefits upon termination of employment.

Employment Agreements

On December
6, 2022, FHL entered into a letter agreement with Mr. Li Siu Lun Allan, pursuant to which Mr. Li served as the Chairman, Executive Director
and Chief Executive Officer of the Company in accordance with the following terms and provisions: (i) payment of a monthly salary of US$3,000
payable at the end of each month, which commenced upon the closing of the IPO; (ii) a discretionary performance bonus determined by the
compensation committee and/or the Board at the end of the fiscal year; and (ii) either party shall have the right to terminate the agreement
by giving to the other party not less than six months’ notice in writing. This agreement was terminated as of December 12, 2024.

On December
6, 2022, FHL entered into a letter agreement with Mr. Li Kin Shing, pursuant to which Mr. Li Kin Shing served as an Executive Director
of the Company in accordance with the following terms and provisions: (i) payment of a monthly salary of US$3,000 payable at the end of
each month, which commenced upon the closing of the IPO; and (ii) a discretionary performance bonus determined by the compensation committee
and/or the board at the end of the fiscal year; and (ii) either party shall have the right to terminate the agreement by giving to the
other party not less than six months’ notice in writing. This agreement was terminated as of December 12, 2024.

On December
6, 2022, FHL entered into an employment agreement with Mr. Fu Wai Yip (Freddy), pursuant to which Mr. Fu was designated as the Chief Financial
Officer of the Company in accordance with the following terms and provisions: (i) a fixed