Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 97

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 6
Chunk 97
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 vested through such termination date. In the event the executive
officer is terminated without notice, it shall be deemed a termination by the Company for cause.

Each of our executive officers has agreed not
to use for his/her personal purposes nor divulge, furnish, or make accessible to anyone or use in any way (other than in the ordinary
course of the business of the Company) any confidential or secret information or knowledge of the Company, whether developed by him/herself
or by others.

In addition, each executive officer has agreed
to be bound by non-competition restrictions during the term of his or her employment and for six months following the last date of employment.

Each executive officer also has agreed not to
(i) solicit or induce, on his/her own behalf or on behalf of any other person or entity, any employee of the Company or any of its
affiliates to leave the employ of the Company or any of its affiliates; or (ii) solicit or induce, on his/her own behalf or on behalf
of any other person or entity, any customer or prospective customer of the Company or any of their respective affiliates to reduce its
business with the Company or any of its affiliates.

We have entered into director agreements with
each of our independent directors which agreements set forth the terms and provisions of their engagement.

In addition, we have entered into indemnification
agreements with each of our directors and executive officers that provide such persons with additional indemnification beyond that provided
in our current memorandum and articles of association.

Share Incentive Plans

The Board of Directors of the Company approved
and adopted Jowell Global Ltd. 2021 Omnibus Equity Plan (the “ Equity Plan”) on August 2, 2021, which was approved at the stockholders’
meeting on September 10, 2021. The total aggregate ordinary shares of the Company authorized for issuance during the term of the Equity
Plan is limited to 250,000 shares (after the Share Consolidation in October 2023).

As of May 8, 2025, 44,344 shares were granted
and outstanding under the Equity Plan. The following paragraphs summarize the terms of the Equity Plan:

Administration. The Equity Plan
requires that a committee of non-employee directors to administer the Equity Plan. Currently, our Compensation Committee, which we refer
to hereto as the Committee, administers the Equity Plan.

Shares Subject to the Equity Plan. The shares issuable under the Equity Plan are our ordinary shares