Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 244

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 6
Chunk 244
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 which can be renewed upon both parties’ agreement before the end of the current employment term. We may terminate an executive officer’s employment for cause at any time without advance notice in certain events. We may terminate an executive officer’s employment by giving a prior written notice or by paying certain compensation. An executive officer may terminate his or her employment at any time by giving prior written notice.
Each executive officer has agreed to hold, unless expressly consented to by us, at all times during and after the termination of his or her employment agreement, in strict confidence and not to use, any of our confidential information or the confidential information of our customers and suppliers. In addition, each executive officer has agreed to be bound by certain noncompetition and non-solicitation restrictions during the term of his or her employment and for two years following the last date of employment.
We have also entered into indemnification agreements with each of our directors and executive officers. Under these agreements, we agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer of our company.
Share Incentive Plans
2024 Share Incentive Plan
We adopted a share incentive plan, or the 2024 Share Incentive Plan, in May 2024. The purpose of the 2024 Share Incentive Plan is to motivate and reward those employees and other individuals who are expected to contribute significantly to our success to perform at the highest level and to further the best interests of ours and our shareholders. The maximum number of shares available for issuance under the 2024 Share Incentive Plan is 228,775,377. As of April 9, 2025, equity awards representing a total of 73,645,364 ordinary shares are outstanding under the 2024 Share Incentive Plan.
The following paragraphs summarize the terms of the 2024 Share Incentive Plan.
Types of Awards. The 2024 Share Incentive Plan permits the awards of options, restricted shares and restricted share units, or RSUs, or any other type of awards as determined by the Committee (as defined below) from time to time.
Plan Administration. The 2024 Share Incentive Plan shall be administered by our compensation committee (the “Committee”), unless otherwise determined by our board of directors. Our board of directors may also at any time terminate the functions of the Committee and reassume all powers and authority previously delegated to the Committee.
Eligibility.