Company: ZDAN
Filing Date: 2025-02-18
Form Type: DRS/A
Source: 0001683168-25-001085
Chunk: 238

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-02-18
Form: DRS/A
Chunk 238
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 the shareholders generally.

In general, actions of a
director are presumed to have been made on an informed basis, in good faith and in the honest belief that the action taken was in the
best interests of the corporation. However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties.
Should such evidence be presented concerning a transaction by a director, the director must prove the procedural fairness of the transaction
and that the transaction was of fair value to the corporation.

As a matter of Cayman Islands
law, a director of a Cayman Islands company owes three types of duties to the company: (i) statutory duties, (ii) fiduciary
duties, and (iii) common law duties. The Companies Act imposes a number of statutory duties on a director. A Cayman Islands director’s
fiduciary duties are not codified, however the courts of the Cayman Islands have held that a director owes the following fiduciary duties
(a) a duty to act in what the director bona fide considers to be in the best interests of the company, (b) a duty to exercise
their powers for the purposes they were conferred, (c) a duty to avoid fettering his or her discretion in the future and (d) a
duty to avoid conflicts of interest and of duty.

The common law duties owed
by a director are those to act with skill, and care and diligence that may reasonably be expected of a person carrying out the same functions
as are carried out by that director in relation to the company and, also, to act with the skill, care and diligence in keeping with a
standard of care commensurate with any particular skill they have which enables them to meet a higher standard than a director without
those skills. In fulfilling their duty of care to us, our directors must ensure compliance with our Articles, as amended and restated
from time to time. We have the right to seek damages where certain duties owed by any of our directors are breached.

Shareholder Action by Written Consent

Under the Delaware General
Corporation Law, a corporation may eliminate the right of shareholders to act by written consent by amendment to its Certificate of Incorporation
(“Certificate of Incorporation”). The Companies Act allows a special resolution to be passed in writing if signed by all
the voting shareholders (if authorized by the Memorandum and Articles of Association).

Shareholder Proposals

Under the Delaware General
Corporation Law, a