Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 50

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 50
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 chair of our audit committee. We have determined that these three individuals satisfy the “independence” requirements
of Nasdaq Rule 5605 and Rule 10A-3 under the Securities Exchange Act of 1934. Our Board of Directors has determined that Ms. Jingyu Lian
qualifies as an audit committee financial expert and has the accounting or financial management expertise as required under Item 407(d)(5)(ii)
and (iii) of Regulation S-K of the SEC. The primary duties of the Audit Committee are, among other things:

  Make recommendations to the            

  Re-appoint and remove of the  

  Monitor the reporting of our                                                         

  Review and supervise our financial                       

Compensation Committee. Our compensation committee consists of Mr. Zhihuang Deng, Mr. Robert Bodenstein and Ms. Jingyu Lian. Mr. Zhihuang Deng serves as the
chairperson of our compensation committee. The primary duties of the compensation committee are, among other things:

  Make recommendations to the                                                                             

  Make recommendations to the                                                                      

  Review performance-based compensation                                       

Nominating CommitteeOur nominating committee consists of Mr. Zhihuang Deng, Mr. Robert Bodenstein and Ms. Jingyu Lian. Ms. Jingyu Lian serves as the chairperson
of our nominating committee. The primary duties of the Nominating Committee are, among other things:

  Review the structure, size and               

  Identify individuals suitably      

  Assess the independence of independent  

  Make recommendations to the                                           

Duties of Directors

Under Cayman Islands law,
our directors have a duty to act honestly, in good faith and with a view to our best interests. Our directors also have a duty to exercise
the care, diligence and skills that a reasonably prudent person would exercise in comparable circumstances. In fulfilling their duty of
care to us, our directors must ensure compliance with our amended and restated memorandum and articles of association. A shareholder may
in certain circumstances have rights to damages if a duty owed by the directors is breached.

Our Board of Directors has
all the powers necessary for managing, and for directing and supervising, our business affairs. The functions and powers of our Board
of Directors include, among others:

  convening general meetings and                        

  declaring dividends and distributions;  

  appointing officers and determining  

  exercising the borrowing powers                                 

  approving the transfer of shares                                                  

Corporate Governance

The business and affairs of
the company