Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 72

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 72
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 of the forfeited Share and not paid before the forfeiture. Despite the foregoing, the directors may determine            
 that any Share the subject of that notice be accepted by the Company as surrendered by the Member holding that Share in lieu of forfeiture. |

| 7.13 | The                                                                              
 directors may accept the surrender for no consideration of any Fully Paid Share. |

Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender

| 7.14 | A                                                                                                                                  
 forfeited or surrendered Share may be sold, re-allotted or otherwise disposed of on such terms and in such manner as the directors 
 determine either to the former Member who held that Share or to any other person. The forfeiture or surrender may be cancelled on  
 such terms as the directors think fit at any time before a sale, re-allotment or other disposition. Where, for the purposes of its 
 disposal, a forfeited or surrendered Share is to be transferred to any person, the directors may authorise some person to execute  
 an instrument of transfer of the Share to the transferee.                                                                          |

| 7.15 | On                       
 forfeiture or surrender: |

| (a) | the                                                                                                                                  
 name of the Member concerned shall be removed from the Register of Members as the holder of those Shares and that person shall cease 
 to be a Member in respect of those Shares; and                                                                                       |

| (b) | that                                                                                                                     
 person shall surrender to the Company for cancellation the certificate (if any) for the forfeited or surrendered Shares. |

| 7.16 | Despite                                                                                                                                  
 the forfeiture or surrender of his Shares, that person shall remain liable to the Company for all moneys which at the date of forfeiture 
 or surrender were presently payable by him to the Company in respect of those Shares together with:                                      |

| (a) | all           
 expenses; and |

| (b) | interest                                                
 from the date of forfeiture or surrender until payment: |

| (i) | at                                                                           
 the rate of which interest was payable on those moneys before forfeiture; or |

| (ii) | if                                               
 no interest was so payable, at the Default Rate. |

The directors, however, may waive payment wholly or in part.

| Annex C-21 |

Evidence of forfeiture or surrender

| 7.17 | A                                                                                                                                       
 declaration, whether statutory or under oath, made by a director or the Secretary shall be conclusive evidence of the following matters 
 stated in it as against all persons claiming to be entitled