Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 141

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 141
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. Arrangements for Election of Directors In connection with the Business Combination, three of the non -independentdirectors will be nominated by FST’s major shareholders: Japan Brand Business LLC, Far East Machinery Co. Ltd., and FST Chairman and major shareholder, David Chuang. Two of the independent directors will be nominated by FST Chairman and major shareholder David Chuang. One independent director will be nominated by FST’s major shareholder Far East Machinery Co. Ltd., and one by the New SPAC Sponsor. 94 Appointment of Directors Our directors shall, be elected by the shareholders by way of any special resolution to either fill a casual vacancy or as an addition to the existing directors. The board of directors shall have power at any time to appoint any person as a director, either to fill casual vacancy or as an addition to the existing directors. Any director may in writing appoint another person to be such director’s alternate, with the alternate having the authority to act in the director’s place at any meeting at which the appointing director is unable to be present. A director may, but is not required to, appoint another director to be an alternate. Removal of Directors A director may be removed from office by special resolution of FST before the expiration of his period of office. A director will also cease to be a director if he or she (i) dies, becomes bankrupt or makes any arrangement or composition with such director’s creditors generally; (ii) is found to be or becomes of unsound mind; (iii) resigns the office of director by notice in writing to the company; (iv) is removed from office pursuant to the Articles of Association; or (v) is prohibited, by any applicable law or the rules of the Stock Exchange, from being a director. Directors’ Fiduciary Duties Under Cayman Islands law, directors and officers owe the following fiduciary duties: •duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; •duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; •duty not to improperly fetter the exercise of future discretion; •duty to exercise powers fairly as between different sections of members; •duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and •duty to exercise independent judgment. In addition to the above, directors and officers also owe a duty