Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 74

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 74
---
 is absent from meetings of our board for three consecutive meetings and our board
resolves that his office be vacated; or (v) is removed from office pursuant to any other provision of our articles of association.

Transactions with Interested Shareholders

The Delaware General Corporation Law contains
a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be
governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging in certain business combinations
with an “interested shareholder” for three years following the date that such person becomes an interested shareholder. An
interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target’s outstanding voting
shares within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the
target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to the date on
which such shareholder becomes an interested shareholder, the board of directors approves either the business combination or the transaction
that resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate
the terms of any acquisition transaction with the target’s board of directors.

<div align='center'>40</div>

Cayman Islands law has no comparable statute.
As a result, we cannot avail ourselves of the types of protections afforded by the Delaware business combination statute. However, although
Cayman Islands law does not regulate transactions between a company and its significant shareholders, the directors of our Company are
required to comply with fiduciary duties, which they owe to our Company under Cayman Islands laws, including the duty to ensure that,
in their opinion, any such transactions must be entered into bona fide in the best interests of the company and not with the effect of
constituting a fraud on the minority shareholders.

Restructuring.

A company may present a petition to the Grand
Court of the Cayman Islands for the appointment of a restructuring officer on the grounds that the company:

(a) is or is likely to become unable to pay its
debts; and

(b) intends to present a compromise or arrangement
to its creditors (or classes thereof) either pursuant to the Companies Act, the law of a foreign country or by way of a consensual restructuring.

The Grand Court may, among other things, make
an order appointing a restructuring officer upon hearing of