Company: CAAS
Filing Date: 2025-07-25
Form Type: F-4/A
Source: 0001104659-25-070492
Chunk: 108

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-25
Form: F-4/A
Chunk 108
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 and without amending the 2004 Stock Option Plan, to modify grants of options to participants who are foreign nationals
or employed outside of the United States in order to recognize differences in local law, tax policies or customs.

Award Agreement.Awards granted under the
2004 Stock Option Plan are evidenced by an award agreement that sets forth terms, conditions and limitations for each award.

Eligibility. Nonstatutory stock options
may be granted to Employees and Consultants. Incentive stock options may be granted only to Employees, provided that Employees of Affiliates
shall not be eligible to receive Incentive stock options. “Employee” means any person employed by the Company or any parent,
subsidiary or Affiliate, with the status of employment determined based upon such factors as are deemed appropriate by the administrator
in its discretion, subject to any requirements of the Code or the applicable laws. The payment by the Company of a director’s fee
to a director shall not be sufficient to constitute “employment” of such director by the Company. “Consultant”
means any person, including an advisor, who is engaged by the Company or any parent, subsidiary or Affiliate to render services and is
compensated for such services, and any non-Employee director of the Company whether compensated for such services or not. “Affiliate”
means an entity other than a subsidiary (which, together with the Company, is under common control of a third person or entity.

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Transfer Restrictions. Options may not be
sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution
or otherwise permitted under the 2004 Stock Option Plan. The designation of a beneficiary by an optionee will not constitute a transfer.
An option may be exercised, during the lifetime of the holder of an option, only by such holder or a transferee permitted. The administrator
may in its discretion grant nonstatutory stock options that may be transferred by instrument to an inter vivos or testamentary trust in
which the options are to be passed to beneficiaries upon the death of the trustor (settlor) or by gift or pursuant to domestic relations
orders to “Immediate Family Members” of the optionee. “Immediate Family” means any child, stepchild, grandchild,
parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,