Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 133

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 6
Chunk 133
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terms of our share incentive plan:

Plan Administration. Our board of directors
or a committee of one or more members of our board of directors (the “ Committee”) will administer the 2019 Plan. The Committee
will determine the participants to receive awards, the nature and the amount of each award to be granted to each participant, and the
terms and conditions of each award grant.

Type of Awards. The 2019 Plan permits the
awards of options, restricted shares, restricted share units or any other type of awards that the Committee decides.

Award Agreement. Awards granted under the
2019 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 employees,
consultants, and directors, as determined by the Committee.

Vesting Schedule. In general, the Committee
determines the vesting schedule, which is specified in the relevant award agreement. Unless otherwise specified in the 2019 Plan, the
term of any award granted under the 2019 Plan shall not exceed ten (10) years.

Exercise of Options. Subject to any specific
designation in the 2019 Plan, the Committee determines the exercise price for each award, which is stated in the relevant award agreement.
Unless otherwise specified in the 2019 Plan, the maximum exercisable term of options is ten years from the date of a grant.

Transfer Restrictions. Awards may not be
transferred in any manner by the recipient except as otherwise provided in the 2019 Plan, by applicable law and by relevant award agreement.

Termination and Amendment. Unless terminated
earlier, the 2019 Plan has a term of ten years. Subject to any specific designation in the 2019 Plan, our board of directors has the authority
to amend or terminate the 2019 Plan; provided, however, that any amendment or modification of the maximum number of shares that may be
issued under the 2019 Plan shall be determined by at least two-thirds of votes cast by directors in a duly constituted meeting (which,
for this purpose, shall include all independent directors to be quorate), including affirmative votes from all independent directors.
However, no such action may adversely affect in any material way any awards previously granted unless