Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 99

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 6
Chunk 99
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 an individual, subject to such restrictions as the Committee may provide.

Term. The Equity Plan is effective
immediately upon the adoption by our Board of Directors, subject to shareholder approval, and will terminate on the earliest to occur
of (i) the 10th anniversary of the Equity Plan’s effective date, or (ii) the date on which all shares available for issuance
under the Equity Plan shall have been issued as fully-vested shares. Options may be granted at any time on or after the date the Board
of Directors adopt the Equity Plan, however, until the stockholders approve the Equity Plan, no options or SARs may be exercised, no restricted
stock may be issued, and no award may be settled in stock.

On November 26, 2021, the Compensation Committee
of the Board of the Company (the “ Compensation Committee”) granted Ms. Mei Cai, the then Chief Financial Officer of the Company,
80,000 Restricted Stock Units (“ RSUs”) under the Company’s 2021 Omnibus Equity Plan. Each RSU represents the right
to receive one ordinary share of the Company. The restricted period for the RSUs shall lapse as to twenty-five percent (25%) of the RSUs
on each of the grant date, March 31, 2022, June 30, 2022 and September 30, 2022, respectively, subject to Ms. Cai remaining in the continuous
service of the Company or its affiliates on each applicable date. Ms. Cai also entered into a Restricted Stock Unit Award Agreement with
the Company on November 26, 2021. As of December 31, 2022, 80,000 shares have been issued to Ms. Cai. The share numbers in this paragraph
are all before our Share Consolidation numbers.

On April 11, 2022, (the “ Grant Date”),
the Compensation Committee granted stock awards of 500,500 ordinary shares of the Company (the “ Shares”), pursuant to the
Company’s 2021 Omnibus Equity Plan, to sixteen officers, directors and employees of the Company and its controlled variable interest
entity (the “ Grantees”), including: 120,000 shares to Zhiwei Xu, Chief Executive Officer and Chairman of the Board of the
Company; 35,000 shares to Dan Zhao, Vice President and a director of the Board of the Company; 3,500 shares to William Morris, a director
of the Board of