Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 48

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 48
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 and is stated in the award agreement between recipient of
an award and us. No award shall be granted under the 2023 Incentive Plan after ten years from the date the 2023 Incentive Plan was approved
by the board.

Vesting
Schedule. In general, the plan administrator determines the vesting schedule, which is set forth in the award agreement.

Transfer
Restrictions. Unless otherwise determined by the administrator of the 2023 Incentive Plan, no award and no right under any such
award shall be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent
and distribution or pursuant to a qualified domestic relations order, and shall not be subject to execution, attachment, or similar process.

The
following table summarizes, as of the date of this annual report, the number of outstanding awards granted under the 2023 Incentive Plan
to our directors and executive officers.

  Name                                                                              Date of Grant   
  Ya Li, Chief Executive Officer, Chairman of the Board, and Director      500      March 12, 2024  
  Zhixiang Fang, Chief Financial Officer                                   500      March 12, 2024  
  Yi Deng, Director                                                        500      March 12, 2024  
  Zhihuang Deng, Independent Director                                       25      March 12, 2024  
  Lourdes Felix, Independent Director (1)                                   13      March 12, 2024  
  Kipton Cariaga, Independent Director (2)                                  13      March 12, 2024  
 ────────────────────────────────────────────────────────────────────────────────────────────────────

  Note:      * Less than 1% of our total outstanding shares.  

  (1)      On April 2, 2025, Ms. Lourdes Felix tendered her resignation        

  (2)      On April 2, 2025, Mr. Kipton Cariaga tendered his resignation            

Clawback Policy adopted by the Board

On November 30, 2023, the
Board adopted an Executive Compensation Recovery Policy (the “ Clawback Policy”) providing for the recovery of certain incentive-based
compensation from current and former executive officers of the Company in the event the Company is required to restate any of its financial
statements filed with the SEC under the Exchange Act in order to correct an