Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 96

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 6
Chunk 96
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co does not have any employee incentive plan and neither have any options been issued or remain outstanding.

Historical
Compensation of SPAC’s Executive Officers and Directors

None
of the officers or directors of SPAC have received any cash compensation for services rendered to SPAC. SPAC’s sponsor, officers
and directors, or any of their respective affiliates were reimbursed for any out-of-pocket expenses incurred in connection with activities
on its behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. SPAC’s
audit committee reviews on a quarterly basis all payments that were made to SPAC’s sponsor, officers or directors, or their affiliates.
Any such payments prior to the Business Combination were made from funds held outside the Trust Account. Other than these payments and
reimbursements, no compensation of any kind, including finder’s and consulting fees, were paid by SPAC to its sponsor, officers
and directors, or any of their respective affiliates, prior to completion of the Business Combination.

SPAC
is not party to any agreements with its officers and directors that provide for benefits upon termination of employment.

Executive
Compensation After the Business Combination

Following
the closing of the Business Combination, the Company established an executive compensation program that is consistent with Femco’s
existing compensation policies and philosophies, which are designed to align compensation with business objectives and the creation of
shareholder value, while enabling it to attract, motivate and retain individuals who contribute to its long-term success. Decisions
on the executive compensation program will be made by the compensation committee of the Company.

Post-Closing
Employment Agreements

In
accordance with the Business Combination Agreement, the Company entered into employment agreements with its executive officers prior
to the consummation of the Business Combination. The agreements provide for a base salary, eligibility for participation in the Company’s
incentive and fringe benefits and other benefit plans generally available to all employees as determined by the Board of Directors or
the Compensation Committee, reimbursement for business expenses incurred, and paid time off in the same manner as other employees of
the Company. The agreements contain severance provisions whereby, if the executive is terminated, then the executive will be paid a lump
sum payment calculated based on his or her accrued salary, unused vacation, unreimbursed business expenses, and any vested benefits under
company benefit plans. The Company has not adopted an employee stock purchase plan or incentive plan as of the date of this Annual Report
on Form 20-F.