Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 80

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 6
Chunk 80
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 Business (Accounting) degree from Swinburne University of Technology in Australia in April 2008.

Family
Relationships

Save
for Ms. Yau Ting Tai being the spouse of Mr. Wai Ho Chan, none of our directors or executive officers has a family relationship as defined
in Item 401 of Regulation S-K.

B.
Compensation.

The
primary objectives of our compensation policies regarding executive compensation are to attract and retain the best possible executives
to lead us and to properly motivate these executives to perform at the highest levels of which they are capable. Compensation levels
established for our executives are designed to promote loyalty, long-term commitment and the achievement of its goals, to motivate the
best possible performance and to award achievement of budgetary goals to the extent such responsibility is within the executive’s
job description. Compensation decisions regarding our named executive officers have historically focused on attracting and retaining
individuals who could help us to meet and exceed our financial and operational goals. Our Board of Directors considers the growth of
the Company, individual performance and market trends when setting individual compensation levels.

  53  

For
the years ended December 31, 2024 and 2023, we paid an aggregate of HK$8,360,000 (US$1,076,252) and HK$5,760,000, respectively, in cash (including
salaries, bonus and mandatory provident fund) to our Directors. Our Hong Kong subsidiaries are required by law to make contributions
equal to certain percentages of each employee’s salary for his or her mandatory provident fund. We have not made any agreements
with our directors or executive officers to provide benefits upon termination of employment.

Employment
Agreements

We
have entered into employment agreements with each of our executive officers. The executive officers are entitled to a fixed salary and
other company benefits, each as determined by the Board from time to time. We may terminate an executive officer’s employment under
Hong Kong Labor Law and under other applicable laws and regulations.

Each
executive officer has agreed during and after the termination or expiry of his or her employment agreement, not to reveal to any person
or use all information, know-how and records that is confidential or not, which may come to their knowledge during their employment,
except as authorized or required by their duties to do so. The restriction shall cease to apply to information or knowledge which may
come into the public domain.

Involvement
in Certain Legal Proceedings

To
the best