Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 116

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 6
Chunk 116
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 one year terms unless terminated earlier pursuant to the terms of this Agreement. We may terminate the employment for cause, at any time, without notice or remuneration, for certain acts of the executive officer, such as conviction or plea of guilty to a felony or grossly negligent or dishonest acts to our detriment, or misconduct or a failure to perform agreed duties. In such case, the executive officer will not be entitled to receive payment of any severance benefits or other amounts by reason of the termination, and the executive officer’s right to all other benefits will terminate, except as required by any applicable law. We may also terminate an executive officer’s employment without cause upon one-month advance written notice. In such case of termination by us, we are required to provide compensation to the executive officer, including (1) a lump sum cash payment equal to 1 months of the Ms. Guo’s base salary as of the date of such termination; (2) a lump sum cash payment equal to a pro-rated amount of her target annual bonus for the year immediately preceding the termination, if any; (3) payment of premiums for continued health benefits under the Company’s health plans for 12 months fo1lowing the termination, if any; and (4) immediate vesting of 100% of the then-unvested portion of any outstanding equity awards held by Ms. Guo.

On May 1, 2025, compensation committee of the board of the Company proposed, approved and ratified an adjustment to Ms. Guo’s compensation for her services as the CFO of the Company. As a result, effective on May 1, 2025, Ms. Guo’s annual base salary was increased from $27,000 in cash and $27,000 in Class A ordinary shares of the Company, par value $0.01 per share to $150,000 in cash, to be paid in periodic installments in accordance with the Company’s regular payroll practices, and $50,000 in Class A ordinary shares, pro-rated over twelve (12)-month period. Such compensation of shares will be payable on December 31 each year.

B. Compensation

Directors and Executive Compensation

The following table represents compensation earned by our executive officers in the fiscal year ended March 31, 2025:

  Name and Principal Position                                            
  Xiaoyue Zhang (CEO and Director)                 150,000      150,000  
  Ling Guo (CFO)                                   27,000       27,000