Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 132

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 6
Chunk 132
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 things:

•overseeing searches for and identifying qualified individuals for membership on the board;
•recommending to the board criteria for board and board committee membership and recommending individuals for membership on the board and its committees;
•at least annually, leading the board in a self-evaluation to determine whether it and its committees are functioning effectively;
•at least annually, reviewing the evaluations prepared by each board committee of such committee’s performance and considering any recommendations for proposed changes to the board;
•reviewing and approving compensation (including equity-based compensation) for the company’s directors;
•overseeing an orientation and continuing education program for directors;
•reporting to the board periodically;
•at least annually, evaluating its own performance and reporting to the board on such evaluation; and
•periodically reviewing and assessing the adequacy of the charter of the committee and recommending any proposed changes to the board for approval.
Duties and Functions of Directors
Under Cayman Islands law, our directors owe fiduciary duties to our company, including a duty of loyalty, a duty to act honestly and a duty to act in what they consider in good faith to be in our best interests. Our directors must also exercise their powers only for a proper purpose. Our directors also owe to our company a duty to exercise the skill they actually possess and such care and diligence that a reasonable prudent person would exercise in comparable circumstances. It was previously considered that a director need not exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person of his knowledge and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in the Cayman Islands. In fulfilling their duty of care to us, our directors must ensure compliance with our memorandum and articles of association, as amended and restated from time to time. Our company has the right to seek damages if a duty owed by our directors is breached. In limited exceptional circumstances, a shareholder may have the right to seek damages in our name if a duty owed by our directors is breached. In accordance with our memorandum and articles of association, the functions and powers of our board of directors include, among others, (i) directing the business and affairs of the company; (ii) adopting the corporate governance policies or initiatives of the company and determining on various corporate governance related matters; (iii) appointing any natural person or corporation to hold office in the company; (iv) exercising all the powers of the company to