Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 154

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 6
Chunk 154
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 our board of directors or compensation committee of the board, or the committee.

Plan administration. Our
board of directors or the committee administers the 2022 Share Incentive Plan. The board or the committee determines, among other things,
the participants to receive awards, the type and number of awards to be granted to each participant, and the terms and conditions of each
award grant.

Award agreement. Awards
granted under the 2022 Share Incentive Plan are evidenced by an award agreement that sets forth terms, conditions and limitations for
each award, which may include the term of the award, the provisions applicable in the event of the grantee’s employment or service
terminates, and our authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind the award.

Eligibility. We
may grant awards to our employees, directors and consultants.

Vesting schedule. In
general, the plan administrator determines the vesting schedule, which is specified in the relevant award agreement.

Exercise of awards. The
exercise price per share subject to an option is determined by the plan administrator and set forth in the award agreement, which may
be a fixed price or a variable price related to the fair market value of the shares. The vested portion of option will expire if not exercised
prior to the time as the plan administrator determines at the time of its grant.

Transfer restrictions. Awards
may not be transferred in any manner by the eligible participant other than in accordance with the limited exceptions, such as transfers
to us or our subsidiaries, transfers to the immediate family members of the participant by gift, the designation of a beneficiary to receive
benefits if the participant dies, permitted transfers or exercises on behalf of the participant by the participant’s duly authorized
legal representative if the participant has suffered a disability, or, subject to the prior approval of the plan administrator or of our
executive officer or director authorized by the plan administrator, transfers to one or more natural persons who are the participant’s
family members or entities owned and controlled by the participant and/or the participant’s family members, including but not limited
to trusts or other entities whose beneficiaries or beneficial owners are the participant and/or the participant’s family members,
or to such other persons or entities as may be expressly approved by the plan administrator, pursuant to such conditions and procedures
as the plan administrator may establish.

Termination and amendment. Unless
terminated earlier, the 2022 Share Incentive Plan has a term of ten years