Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 144

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 6
Chunk 144
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 capital, or any part thereof, and to issue debentures, debenture stock or other securities whenever money is borrowed or as security
for any debt, liability or obligation of SunCar or of any third party. None of SunCar’s directors has a service contract with SunCar
that provides for benefits upon termination of service as a director.

Duties and Functions of Directors

Under Cayman Islands law,
SunCar’s directors owe fiduciary duties to SunCar, including a duty of loyalty, a duty to act honestly and a duty to act in what
they consider in good faith to be in SunCar’s best interests. SunCar’s directors must also exercise their powers only for
a proper purpose. SunCar’s directors also owe to SunCar a duty to act with skill and care. It was previously considered that a director
need not exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person of his knowledge
and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and
care and these authorities are likely to be followed in the Cayman Islands. In fulfilling their duty of care to SunCar, SunCar’s
directors must ensure compliance with SunCar’s Memorandum and Articles of Association, as amended and restated from time to time.
SunCar has the right to seek damages if a duty owed by its directors is breached. In limited exceptional circumstances, a shareholder
may have the right to seek damages in SunCar’s name if a duty owed by SunCar’s directors is breached. The functions and powers
of SunCar’s Board of Directors include, among others, (i) convening shareholders’ annual and extraordinary general meetings
and reporting its work to shareholders at such meetings, (ii) declaring dividends, (iii) appointing directors or officers and determining
their terms of offices and responsibilities, and (iv) approving the transfer of shares of SunCar, including the registering of such shares
in SunCar’s share register.

Terms of Directors and Officers

SunCar’s officers are
elected by and serve at the discretion of the board. Each director is not subject to a term of office and holds office until such time
as his successor takes office or until the earlier of his death, resignation or removal from office by ordinary resolution of all shareholders.
A director will be removed from office automatically if, among other things, the director (i) becomes bankrupt or makes any arrangement
or composition