Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 95

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 6
Chunk 95
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itors acting in relation to any of our affairs against actions, costs,
charges, losses, damages and expenses incurred by reason of any act done or omitted in the execution of their duties as our directors,
officers and auditors.

Under
our memorandum and articles of association, every director and officer, among others, for the time being and from time to time of the
Company (but not including the Company’s auditors) shall be indemnified and secured harmless against all actions, proceedings,
costs, charges, expenses, losses, damages or liabilities incurred or sustained by such person, other than by reason of such person’s
own dishonesty, willful default or fraud, in or about the conduct of the Company’s business or affairs or in the execution or discharge
of his or her duties, powers, authorities or discretions (including as a result of any mistake of judgment).

Director’s
Agreements

Each
of our Directors have entered into a director’s agreement with the Company. The terms and conditions of such directors’ agreements
are similar in all material aspects. Each director’s agreement is for an initial term of one year and will continue until the
Director’s successor is duly elected and qualified. Each Director will be up for re-election each year at the annual shareholders’
meeting and, upon re-election, the terms and provisions of his or her Director’s Agreement will remain in full force and effect.
Any Director’s Agreement may be terminated for any or no reason by the Director or at a meeting called expressly for that purpose
by a vote of the shareholders holding more than 50% of the Company’s issued and outstanding Ordinary Shares entitled to vote.

  60  

Under
the directors’ agreements, the initial annual director fees that are payable to our Independent Director Nominees will be S$25,000
to Mr. Yong Thiam Fook, S$22,000 to Mr. Ho Soo Lih and S$22,000 to Mr. Sung Jin An respectively. Such director fees are payable in cash
on a yearly basis.

In
addition, our Directors will be entitled to participate in such share option scheme as may be adopted by the Company, as amended from
time to time. The number of options granted, and the terms of those options will be determined from time to time by a vote of the Board
of Directors; provided that each Director shall abstain from voting on any such resolution or resolutions relating to the grant of options
to that Director.

Other
than as