Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 121

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 6
Chunk 121
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 Directors effective
December 12, 2024.

  74  

Compensation Recovery Policy

As required pursuant to the listing
standards of the Nasdaq Listing Rules, Rule 10D under the Exchange Act, and Rule 10D-1 under the Exchange Act, the Compensation Committee
of the Board of Directors has adopted a compensation recovery policy, also known as a clawback policy (the “ Compensation Recovery
Policy”), effective December 1, 2023. The Compensation Recover Policy requires the Company to recover the incremental portion of
the incentive-based compensation received by such officer that was in excess of the amount they would have received had their incentive
compensation been determined based on the restated financial statements. Such events requiring a restatement of financial statements would
be due to the material noncompliance of the Company with any financial reporting requirements under the securities laws, including any
required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued
financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected
in the current period.

For additional information regarding
our Compensation Recovery Policy, please refer to Exhibit 4.7 to our Annual Report on Form 20-F filed with the SEC on April 29, 2024.

Mandatory Provident Fund

The Mandatory Provident Fund (the
“ MPF”) is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. Most employees and their
employers are required to contribute monthly to mandatory provident fund schemes provided by approved private organizations, according
to their salaries and the period of employment. The Mandatory Provident Fund was implemented in December 2000 following the enactment
of the Mandatory Provident Fund Schemes Ordinance on July 27, 1995. The MPF Schemes Authority (MPFA) is charged with supervising the provision
of MPF schemes - it registers schemes and ensures that approved trustees administer schemes prudently, ensuring compliance including inspections,
audits, and investigations.

The MPF
system is mandatory for all employees in Hong Kong who have an employment contract of 60 days or more and also applies also to self-employed
persons. Under the MPF, the choice of the scheme is the responsibility of the employer (for which the legislation defines three types):
(i) master trust scheme; (ii) employer sponsored scheme; or (iii) industry scheme. The scheme operates on