Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 108

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 108
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 costs, expenses, losses or liabilities incurred by the existing or former Secretary, director or      
 Officer in defending (whether successfully or otherwise) any civil, criminal, administrative or investigative proceedings (whether     
 threatened, pending or completed) concerning the Company or its affairs in any court or tribunal, whether in the Islands or elsewhere. |

Such indemnity only applies if the directors are of the view that, in the absence of fraud, wilful default or wilful neglect, such existing or former Secretary, director or Officer acted honestly and in good faith with a view to what the person believes is in the best interests of the Company and, in the case of criminal proceedings, such person had no reasonable cause to believe that their conduct was unlawful. No such existing or former Secretary, director or Officer, however, shall be indemnified in respect of any matter arising out of his own actual fraud, wilful default or wilful neglect.

| 30.2 | To                                                                                                                                  
 the extent permitted by Applicable Law, the Company may make a payment, or agree to make a payment, whether by way of advance, loan 
 or otherwise, for any legal costs incurred by an existing or former Secretary, director or Officer of the Company in respect of any 
 matter identified in paragraph (a) or paragraph (b) of the preceding Article on condition that the Secretary, director or Officer   
 must repay the amount paid by the Company to the extent that it is ultimately found not liable to indemnify the Secretary, director 
 or that Officer for those legal costs.                                                                                              |

Release

| 30.3 | To                                                                                                                               
 the extent permitted by Applicable Law, the Company may by Special Resolution release any existing or former director (including 
 alternate director), Secretary or other Officer of the Company from liability                                                    |

Insurance

| 30.4 | To                                                                                                                                 
 the extent permitted by Applicable Law, the Company may pay, or agree to pay, a premium in respect of a contract insuring each of  
 the following persons against risks determined by the directors, other than liability arising out of that person’s own dishonesty: |

| (a) | an                                                                                              
 existing or former director (including alternate director), Secretary or Officer or auditor of: |

| (i) | the      
 Company; |

| (ii) | a                                                    
 company which is or was a subsidiary of the Company; |

| (iii) | a                                                                                     
 company in which the Company has or had an interest (whether direct or indirect); and |

| (b)