Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1084

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 4
Chunk 1084
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, the Company entered into non-participating
joinders (the “Non-Participating Joinders” and, together with the Participating Joinders, the “Joinders”)
with the Non-Participating Stockholders, pursuant to which the Non-Participating Stockholders became party to the Business Combination
Agreement with all attendant rights, duties and obligations (including in respect of all of the representations, warranties, covenants,
agreements and conditions of the Business Combination Agreement), with the same force and effect as if originally named as a “Non-Participating Company
Stockholder” in the Business Combination Agreement.

86

The Non-Participating Joinders contain put and call rights for
the Non-Participating Stockholders and the Company, respectively, whereby the Non-Participating Stockholders shall have
the Put Right and the Company shall have the Call Right.

The Put Right and Call Right will be exercisable on or after the Trigger
Date. The Put Right and Call Right terminate and expire 120 days after the Trigger Date.

The Non-Participating Joinders contain customary representations,
warranties and covenants, and include a general release of all claims against the Company, OSR and each of its and their respective affiliates,
successors, assigns, officers, directors, employees, agents, administrators and trustees.

The foregoing summary is subject to and qualified in its entirety by
reference to the Form of Non-Participating Joinder, which is filed hereto as Exhibit 10.2 to the Company’s February 21, 2025 8-K
Filing and the terms of which are incorporated herein by reference.

Additionally, on the Closing Date, the Company entered into Lock-up
Agreements (the “Lock-Up Agreements”) with Bellevue Capital Management LLC (“BCM”), BCM Europe AG
(“BCME”), Sung Jae Yu, and Sung Hoon Chung (together, the “Holders”), pursuant to which the Holders
are contractually restricted from selling or transferring between 70%-100% of their shares of Company Common Stock received in the Share
Exchange (the “Lock-Up Shares”). Such restrictions became applicable commencing from the Closing Date and end (i) with
respect to BCM and BCME, on the 36-month anniversary of the Closing Date; and (ii) with respect to Sung Jae Yu and Sung Hoon Chung, on
January 1