Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 47

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 47
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 of base salary plus bonus, in cash
to our executive officers and employee directors. For the fiscal year ended December 31, 2023, we paid an aggregate of RMB4,946,072 (approximately
US$701,895), which is the total amount of base salary plus bonus, in cash to our executive officers and employee directors. For the fiscal
year ended December 31, 2022, we paid an aggregate of RMB2,786,641 (approximately US$414,304), which is the total amount of base salary
plus bonus, in cash to our executive officers and employee directors.

Share Incentive Plan

In
September 2023, the Company adopted the 2023 Equity Incentive Plan (the “2023 Incentive Plan”), for the purpose of granting
share-based compensation awards to employees, directors and consultants to incentivize their performance and align their interests with
ours. Under the 2023 Incentive Plan, we are authorized to issue an aggregate of 15,000 Class A ordinary shares. As of the date of this
annual report,10,100Class A ordinary shares have been granted and outstanding,
of which 1,550 shares are granted to certain of our management members and directors.

The
following paragraphs summarize the terms of the 2023 Incentive Plan.

Types
of Awards. The 2023 Incentive Plan permits the awards of options, stock appreciation rights, restricted stock, restricted stock
units, stock bonus awards and/or performance compensation awards.

Plan
Administration. The 2023 Incentive Plan is administered by the Compensation Committee of the Board or any other committee
appointed by the Board to administer this Plan (or if no Committee is appointed, the Board). The plan administrator is entitled to determine
the participants who are to receive awards, the number of awards to be granted, and the terms and conditions of each award grant.

Eligibility. Employees, directors and officers and the consultants of our company are eligible to participate pursuant to the terms of the 2023 Incentive
Plan.

Conditions
of Award. The plan administrator shall determine the participants, types of awards, numbers of shares to be covered by
awards, terms and conditions of each award, and provisions with respect to the vesting schedule, settlement, exercise, repurchase, cancellation,
forfeiture, restrictions, limitations or suspension of awards.

Term
of Award. The term of each award shall be fixed by the administrator