Company: XTKG
Filing Date: 2025-03-04
Form Type: F-3/A
Source: 0001213900-25-019896
Chunk: 30

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-03-04
Form: F-3/A
Chunk 30
---
 ultra vires and is therefore incapable of ratification by the shareholders;                                     |
| ● | the act complained of,                                                                                                              
 although not ultra vires, could only be duly effected 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”.                                                                                         |

Indemnification of Directors and Executive Officers and Limitation of Liability. The Companies Act 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 Seventh Amended and Restated Memorandum and Articles of Association permit indemnification of
officers and directors for losses, damages, costs and expenses incurred in their capacities as such unless such losses or damages arise
from dishonesty of such directors or officers willful default of fraud. This standard of conduct is generally the same as permitted under
the Delaware General Corporation Law for a Delaware corporation. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that
in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

<div align='center'>17</div>

Directors’ Fiduciary Duties.Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director acts in a manner he reasonably believes to be in the best interests of the corporation. He must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the shareholders generally. In general, actions of