Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 90

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 6
Chunk 90
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2020. Prior to that, Mr. Chang served from 2012 to 2017 as Chairman and
Managing Director of Taiwan Shun On Electronic Co., Ltd., a Taiwan-based public company primarily engaged in the manufacture and distribution
of conductive membrane and membrane keypad products, as well as the development and sales of automotive electronics products, having
previously served as Chief Executive Officer of such company from 2010 to 2012. Mr. Chang, a resident of Taiwan, earned an MBA from the
China School Business, Sun Yat-sen University in 2005.

Family
Relationships

Besides
Mr. Ming-Chao Huang and Mr. Ming-Chia Huang who are siblings, none of our directors or executive officers has a family relationship as
defined in Item 401 of Regulation S-K.

  54  

B.
Compensation

Directors
or members of the management team of MKD Taiwan who remain with the Company may be paid consulting, management or other fees from the
Combined Company. Any compensation to be paid to its executive officers will be determined by a compensation committee constituted by
the board of the Company.

The
Company is not party to any agreements with its executive officers and directors that provide for benefits upon termination of employment
as of the date of this prospectus.

For
the years ended December 31, 2022, 2023 and 2024, MKD paid an aggregate of approximately $268,360, $300,626 and $300,626 respectively
in cash compensation and benefits in kind to the Company’s directors and executive officers, Mr. Ming-Chia Huang, Ms. Min-Jie Cui,
Mr. Ming-Chao Huang and Mr. Chih-Hsiang Tang, as a group. In Taiwan, MKD is not required by the applicable laws and regulations to make
contributions to the individual pension accounts for directors and the executive officers who do not apply the Labor Standards Act of
Taiwan. MKD Taiwan may make voluntary contributions up to 6% of the total wage of such executive officers but cannot do so for directors.
During the years ended December 31, 2022, 2023 and 2024, the Company’s executive officers and directors aforementioned did not
receive any stock options or any benefits under profit-sharing plans and no deferred or contingent compensation accrued to them.

C.
Board Practices

Duties
of Directors

Under
BVI law, directors owe fiduciary duties both at common law