Company: SOS
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001213900-25-069766
Chunk: 96

Company: SOS Ltd
Filing Date: 2025-07-31
Form: 424B5
Chunk 96
---
 plaintiff
to sue for a wrong done to us as a company, and as a general rule a derivative action may not be brought by a minority shareholder. However,
based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands court
can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that
a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to
challenge actions where:

| ● | a company acts or proposes to act illegally or ultra vires (and is therefore incapable of ratification by the shareholders); |

| ● | the act complained of, although not ultra vires, could only be effected duly if authorized by more than a simple majority vote that has not been obtained; and |

| ● | those who control the company are perpetrating a “fraud on the minority.” |

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Indemnification of Directors and Executive Officers and Limitation of Liability

Cayman Islands law does not limit the extent to
which a company’s memorandum and articles of association may provide for indemnification of officers and directors, except to the
extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification
against civil fraud or the consequences of committing a crime. Our memorandum and articles of association provide that we shall indemnify
our directors and officers against all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or sustained
by such directors or officer, other than by reason of such person’s dishonesty, willful default or fraud, in or about the conduct
of our company’s business or affairs (including as a result of any mistake of judgment) or in the execution or discharge of his
duties, powers, authorities or discretions, including, without prejudice to the generality of the foregoing, any costs, expenses, losses
or liabilities incurred by such director or officer in defending (whether successfully or otherwise) any civil proceedings concerning
our company or its affairs in any court whether in the Cayman Islands or elsewhere. This standard of conduct is generally the same as
permitted under the Delaware General Corporation Law for a Delaware corporation.

In addition, we have entered into indemnification
agreements with our directors and executive officers that provide such persons with additional indemn