Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 74

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 74
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 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 to forfeited Shares:                                                        |

| (a) | that                                                                             
 the person making the declaration is a director or Secretary of the Company, and |

| (b) | that                                                                           
 the particular Shares have been forfeited or surrendered on a particular date. |

Subject to the execution of an instrument of transfer, if necessary, the declaration shall constitute good title to the Shares.

Sale of forfeited or surrendered Shares

| 7.18 | Any                                                                                                                                   
 person to whom the forfeited or surrendered Shares are disposed of shall not be bound to see to the application of the consideration, 
 if any, of those Shares nor shall his title to the Shares be affected by any irregularity in, or invalidity of the proceedings in     
 respect of, the forfeiture, surrender or disposal of those Shares.                                                                    |

| 8. | Transfer  
 of Shares |

Form of transfer

| 8.1 | Subject                                                                                                                                 
 to the following Articles about the transfer of Shares, and provided that such transfer complies with the rules and regulations of      
 the Designated Stock Exchange, the SEC and/or any other competent regulatory authority or otherwise under Applicable Law, a Member      
 may transfer Shares to another person by completing an instrument of transfer in a common form or in a form prescribed by the rules     
 and regulations of the Designated Stock Exchange, the SEC and/or any other competent regulatory authority or otherwise under Applicable 
 Law or in any other form approved by the directors, executed:                                                                           |

| (a) | where                                                          
 the Shares are Fully Paid, by or on behalf of that Member; and |

| (b) | where