Company: GINT
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001213900-25-044839
Chunk: 158

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 158
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 the fact that he or she is interested in a transaction we have entered into or are to enter into. You should refer to “ Description of Share Capital — Differences in Corporate Law” for additional information on our standard of corporate governance under British Virgin Islands law. 110 Our board of directors has all the powers necessary for managing, and for directing and supervising, our business affairs. The functions and powers of our board of directors include, among others: •convening meetings of members (including annual general meeting) and reporting its work to shareholders at such meetings; •declaring dividends and distributions; •appointing officers and determining the term of office of the officers; •exercising the borrowing powers of our Company and mortgaging the property of our Company; and •approving the transfer of Shares in our Company, including the registration of such Shares in our Share register. Terms of Directors and Officers Our directors may be appointed by resolutions of directors or resolutions of members. Pursuant to our Amended Memorandum and Articles, each director holds office for the term, if any, fixed by the resolution of the members of or resolution of directors of the Company appointing him or her; or until their resignation, death, or removal. If no term is fixed on the appointment of a director, the director serves indefinitely until his or her earlier death, resignation or removal. Our officers are selected by and serve at the discretion of our board of directors. Employment Agreements with Executive Officers We [have entered] into employment agreements with each of our executive officers. Under these agreements, each of our executive officers is employed for an initial period of [three] years, and such agreements will be automatically renewed unless otherwise agreed in writing. We may terminate, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction or plea of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to our detriment, or misconduct or a failure to perform agreed duties. We may also terminate an executive officer’s employment without cause at any time upon [one month]’s advance written notice or by payment of [one month]’s salary in lieu of notice. In such case of termination by us, we will provide severance payments to the executive officer as expressly required by applicable law of the jurisdiction where the executive officer is based. An executive officer may terminate his or her employment at any time with a [three months]’ prior written notice to the Company or by payment of [three