# EDGAR Filing Document

**Accession Number:** 0002036307
**File Stem:** 0001493152-26-022223
**Filing Date:** 2026-5
**Character Count:** 320600
**Document Hash:** 1bc4c5a2b023289477c2b56b7e29de82
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-022223.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001493152-26-022223

**CONFORMED SUBMISSION TYPE**: DEF 14A

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260511

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OFA Group
- **CENTRAL INDEX KEY:** 0002036307
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ENGINEERING SERVICES [8711]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** DEF 14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42592
- **FILM NUMBER:** 26963151

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** UNIT B, 16/F, EASY TOWER, 609 TAI NAN WE
- **CITY:** CHEUNG SHA WAN,
- **PROVINCE COUNTRY:** K3
- **ZIP:** 000000
- **BUSINESS PHONE:** 85221370122

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** UNIT B, 16/F, EASY TOWER, 609 TAI NAN WE
- **CITY:** CHEUNG SHA WAN,
- **PROVINCE COUNTRY:** K3
- **ZIP:** 000000

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 14A**

**Proxy Statement Pursuant to Section 14(a) of**

**the Securities Exchange Act of 1934**

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material Pursuant to §240.14a-12

**OFA Group**

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☒ No fee required <br> ☐ Fee paid previously with preliminary materials <br> ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

![](formdef14a_001.jpg)

Dear Shareholder:

You are cordially invited to attend the 2026 Extraordinary General Meeting of Shareholders of OFA Group The meeting will be held on May 21, 2026, at 2pm PST (5 P.M., Eastern Time) at 609 Deep Valley Drive, Suite 200, Rolling Hills, California 90274, virtually via live audio webcast on the Internet at http://www.virtualshareholdermeeting.com/OFAL2026SM. On or about May 11, 2026, a full set of proxy materials will be mailed to each shareholder.

Your vote is important. Whether or not you plan to attend the Extraordinary General Meeting live, we hope you will vote as soon as possible. Please vote by returning your signed proxy card in the envelope provided. If you do attend the meeting and desire to vote during the meeting, you may do so by following the procedures described in the proxy statement even if you have previously voted.

Sincerely,

---

| |
|:---|
| */s/ Larry Wong* |
| Larry Wong |
| Chief Executive Officer |

---

**OFA GROUP**

**609 Deep Valley Drive, Suite 200**

**Rolling Hills, CA 90274**

**(800) 418-5160**

**NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS**

**TO BE HELD ON TUESDAY, MAY 21, 2026**

To the Shareholders of OFA Group:

Notice is hereby given that the 2026 Extraordinary General Meeting of Shareholders of OFA Group will be held on May 21, 2026, at 2pm PST (5 P.M., Eastern Time) at 609 Deep Valley Drive, Suite 200, Rolling Hills, California 90274, in a virtual meeting format only. You may attend, vote and submit questions during or in advance of the Extraordinary General Meeting via the Internet at http://www.virtualshareholdermeeting.com/OFAL2026SM. The principal business of the meeting will be for the following purposes:

&nbsp;&nbsp;&nbsp;&nbsp;1. Approve
 a proposal to allow the Company's board of directors to effect a share consolidation
 of all the Company's Class A ordinary shares by consolidating them at a ratio of 1
 for 10 at any time after approval by the shareholders, and to authorize the board of directors
 to implement the share consolidation at its discretion (the "Share Consolidation
 Proposal");

2. To
 approve the adoption of the 3<sup>rd</sup> M&AA to reflect the share consolidation (the
 "3<sup>rd</sup> M&AA Proposal"); and

3. To
 approve the 2026 Share Incentive Plan (the "Incentive Plan Proposal");

4. To
 act on any other matters that may properly come before the meeting and any adjournment or
 postponement thereof (the "Adjournment Proposal").

The Board of Directors of the Company has fixed the close of business on April 16, 2026 as the record date for determining the shareholders entitled to notice of and to vote at the meeting and any adjournments thereof. The share transfer books of the Company will not be closed.

---

| |
|:---|
| By order of the Board of Directors, |
| */s/ Larry Wong* |
| Larry Wong |
| Chief Executive Officer |

---

**THE PROMPT SUBMISSION OF PROXIES WILL SAVE THE COMPANY THE EXPENSE OF FURTHER REQUESTS FOR PROXIES IN ORDER TO ENSURE A QUORUM. YOU MAY VOTE BY MAIL, ONLINE OR BY PHONE IN ACCORDANCE WITH THE INSTRUCTIONS SET FORTH IN THE PROXY CARD OR OTHER INSTRUCTIONS FROM THE HOLDER OF RECORD.**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| **[GENERAL INFORMATION](#Aa_001)** | 2 |
| **[EXECUTIVE COMPENSATION](#Aa_002)** | 5 |
| **[PRINCIPAL SHAREHOLDERS](#sl_001)** | 7 |
| [**PROPOSAL 1: SHARE CONSOLIDATION**](#vi_001) | 9 |
| [**PROPOSAL 2: AS A SPECIAL RESOLUTION, SUBJECT TO THE APPROVAL OF THE SHARE CONSOLIDATION PROPOSAL, TO APPROVE AND ADOPT THE THIRD AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION ("3rd M&AA")**](#vi_002) | 14 |
| [**PROPOSAL 3: INCENTIVE PLAN PROPOSAL**](#vi_003) | 14 |
| [**PROPOSAL 4: THE ADJOURNMENT PROPOSAL**](#vi_004) | 21 |
| **[HOUSEHOLDING](#Aa_003)** | 22 |
| **[ADDITIONAL INFORMATION](#Aa_004)** | 22 |
| **[OTHER MATTERS](#Aa_005)** | 23 |

---

**OFA GROUP**

**Proxy Statement**

2026 Extraordinary General Meeting of Shareholders

May 21, 2026

2pm PST

**GENERAL INFORMATION**

Proxies are being solicited by the Board of Directors (the "Board") of OFA Group, a Cayman Islands exempted limited company (the "Company," "we," "us" or "our"), for use in connection with the extraordinary general meeting of shareholders (the "Extraordinary General Meeting") to be held on May 21, 2026 and at any adjournment thereof. Only shareholders of record at the close of business on April 16, 2026 will be entitled to vote at such meeting.

The address of our principal executive office is 609 Deep Valley Drive, Suite 200, Rolling Hills, CA 90274 and our telephone number is (800) 418-5160. The mailing of this proxy statement and a proxy card to shareholders will commence on or about May 11, 2026.

**Ordinary Shares Outstanding on Record Date**

At the close of business on April 16, 2026 (the "Record Date"), which is the date selected by the Board for determining shareholders entitled to notice of and to vote at the meeting, there were 26,266,846 shares of Class A ordinary shares, par value $0.001 per share ("Class A ordinary shares") outstanding and entitled to vote, and 20,000,000 shares of Class B ordinary shares, par value $0.001 per share ("Class B ordinary shares" and sometimes referred to collectively with the Class A ordinary shares as "ordinary shares") outstanding and entitled to vote. In respect of matters requiring a vote of all shareholders, each holder of Class A ordinary shares are entitled to one vote per share; and each holder of Class B ordinary shares are entitled to 25 votes per Class B ordinary share. As of the Record Date, our three main shareholders, including our Chief Executive Officer and our Chief Technology Officer, collectively beneficially own approximately 53.19% of our issued and outstanding Class A ordinary shares and 100% of our Class B ordinary shares and are able to exercise approximately 98.68% of the total voting power of our issued and outstanding ordinary shares.

**Votes Required on Proposals**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Share consolidation** **Proposal** - The affirmative vote of the holders of a majority of the votes cast by the
 ordinary shares present or represented by proxy at the meeting and entitled to vote is required
 for approval of the share consolidation.

2. **3rd M&AA Proposal** - The
 affirmative vote of the holders of a two-thirds of the votes cast by the ordinary shares
 present or represented by proxy at the meeting and entitled to vote is required for approval
 of adoption of the 3rd M&AA to reflect the share consolidation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Incentive Plan Proposal** - The affirmative vote of the holders of a majority of the votes cast by
 the ordinary shares present or represented by proxy at the meeting and entitled to vote is
 required for approval of the OFA Group 2026 Equity Incentive Plan (the "2026 Plan").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Adjournment Proposal** - The affirmative vote of the holders of a majority of the votes cast by the
 ordinary shares present or represented by proxy at the meeting and entitled to vote is required
 for approval of the adjournment.

**Abstentions and Broker Non-Votes**

*Abstentions*: Under the laws of the Cayman Islands, abstentions are counted as shares present and entitled to vote at the Extraordinary General Meeting but are not counted as votes cast. Unless put to the meeting as a special resolution, matters shall be decided by a simple majority of votes cast by such members (or shareholders) who, being entitled to do so, vote in person or by proxy at such meeting. Voting at any shareholders' meeting is by way of a show of hands of shareholders who are present in person or by proxy unless a poll is requested pursuant to the Second Amended and Restated Memorandum and Articles of Association of the Company.

*Broker Non-Votes*: A "broker non-vote" occurs when a broker, bank, or other nominee holding your shares in street name does not vote on a particular matter because you did not provide the broker, bank, or other nominee voting instructions and the broker, bank, or other nominee lacks discretionary voting authority to vote the shares because the matter is considered "non-routine" under the Nasdaq rules for brokers. The "non-routine" matters on the agenda for the Extraordinary General Meeting include Proposal 1: Share Consolidation, Proposal 2: 3<sup>rd</sup> M&AA and Proposal 3: Incentive Plan Proposal.

Broker non-votes will be counted for the purpose of determining whether a quorum is present at the Extraordinary General Meeting. Therefore, it is critical that you indicate your vote on these proposals if you want your vote to be counted.

The table below sets forth, for each proposal on the ballot, whether a broker can exercise discretion and vote your shares absent your instructions and, if not, the impact of such broker non-vote on the approval of the proposal.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Proposal** | **Voting Options** | **Board**<br> **Recommendation** | **Effect of**<br> **Abstention** | **Impact of**<br> **Broker Non-Vote** |
| 1. Share consolidation | For, Against, Abstain | FOR | No effect | Not applicable |
| 2. 3<sup>rd</sup> M&AA Proposal | For, Against, Abstain | FOR | No effect | Not applicable |
| 3. Incentive Plan Proposal | For, Against, Abstain | FOR | No effect | Not applicable |
| 4. Adjournment Proposal | For, Against, Abstain | FOR | No effect | Not applicable |

---

**Expenses of Soliciting**

We will pay the cost of soliciting proxies. In addition to solicitation by the use of the mails, certain of our directors, officers and employees may solicit proxies by telephone, email or personal contact, and we have requested brokerage firms and custodians, nominees and other record holders to forward soliciting materials to the beneficial owners of our shares and will reimburse them for their reasonable out-of-pocket expenses in so forwarding such materials.

**Shareholder Proposals**

Shareholder proposals (other than director nominations) that are submitted for inclusion in our proxy statement for our annual meeting of Shareholders to be held in 2026 must follow the procedures and requirements of the federal securities laws, including Rule 14a-8 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). To be timely, such proposals must be received by us at our principal executive office no later than June 30, 2026. Any notice of a shareholder proposal must also satisfy the timing and content requirements of our Second Amended and Restated Articles of Association in respect of a Members' requisition.

**What do I need to do to attend the Extraordinary General Meeting online?**

We will be hosting our Extraordinary General Meeting via live audio webcast only. If you are a shareholder as of the Record Date and wish to virtually attend the Extraordinary General Meeting, you will need the 12-digit control number, which is located on the Notice or on your proxy card (if you receive a printed copy of the proxy materials). Instructions on how to participate in the Extraordinary General Meeting are also posted online at www.proxyvote.com. The webcast will start at 2pm PST (5 P.M., EST), Eastern on May 21, 2026. Shareholders may vote and ask questions while attending the Extraordinary General Meeting online.

Use of cameras and recording devices are prohibited while virtually attending the live audio webcast.

**How can I get help if I have trouble checking in or listening to the meeting online?**

If you encounter any difficulties accessing the virtual meeting during the check-in or meeting, please call the technical support number that will be posted on the Virtual Shareholder Meeting log-in page.

**How to Vote**

We encourage you to vote promptly. Your methods of voting may differ depending on whether you are a "street name" or a "shareholder of record."

If your shares are held in the name of a stockbroker, bank, trust or other nominee as a custodian, and this proxy statement was forwarded to you by that organization, then you are a "street name" holder and you must instruct your nominee as to your voting preferences. Please contact your nominee/custodian to do so. Because a beneficial owner is not the shareholder of record, you may not vote your shares live at the meeting unless you obtain a legal proxy from the broker, bank, trustee or nominee that holds your shares, giving you the right to vote the shares at the meeting.

If you hold your shares directly, then you are a "shareholder of record" and you may vote your shares in advance of the meeting using the mail method described on your proxy card or other voting instructions from the holder of record, including:

***By Mail***

If you are a holder of record and received a paper copy of the proxy card by mail, you can vote by marking, dating, and signing your proxy card and returning it by mail in the envelope provided. If you hold your shares in street name, you can vote by completing and mailing the voting instruction form.

***During the Meeting***

All shareholders of record as of the record date may vote on the Internet during the Extraordinary General Meeting. Instructions on how to attend and vote at the Extraordinary General Meeting are described at *www.proxyvote.com*.

**Revocation of Proxies**

You can revoke your proxy at any time before your shares are voted if you (1) submit a written revocation to our corporate secretary at our executive offices before the meeting, or at the meeting, (2) submit a timely later-dated proxy (or voting instruction form if you hold shares in street name) or (3) vote at the meeting.

**Important Notice Regarding the Availability of Proxy Materials**

**for the Extraordinary General Meeting to be held on May 21, 2026**

**EXECUTIVE AND DIRECTOR COMPENSATION**

The following table sets forth information concerning the compensation of the named executive officers for the years ended March 31, 2025 and 2026:

**Summary Compensation Table**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Calendar Year** | **Salary or**<br> **Consulting**<br> **$** | **Bonus**<br> **$** | **Stock**<br> **Awards**<br> **$** | **Other**<br> **Payments**<br> **$** | **Option**<br> **Awards**<br> **$** | **Total** |
| Larry Wong(Chief Executive Officer, Director) | 2025 | $36815 | – |  |  | $– $| 36815 |
| Larry Wong(Chief Executive Officer, Director) | 2026 | $240000 | – | 483966 |  | $– $| 723966 |
| Keith Chong(Chief Technology Officer, Director) | 2025 | $36815 | – |  |  | $– $| 36815 |
| Keith Chong(Chief Technology Officer, Director) | 2026 | $91872 | – |  | 90173 | $– $| 214752 |

---

**Executive Employment Agreements**

***Thomas Gaffney***

 ****

The Company (or one of its subsidiaries) has entered into an Executive Employment Agreement, dated May 16, 2025 (the "COO Agreement") with Mr. Thomas Gaffney, the Company's Chief Operating Officer, effective as of May 21, 2025. With initial term of two years, the COO Agreement term automatically renews for successive one-year terms as of the commencement date unless prior written notice by either party within thirty days prior to end of the current term. The COO Agreement provides for termination of employment and severance benefits under stated conditions and restrictive covenants. The COO Agreement provides an annual base salary of $120,000. The COO Agreement provides for an initial equity grant of 50,000 ordinary shares, along with an annual equity awards with a target value of approximately 50,000 ordinary shares subject to Mr. Gaffney's continued employment with the Company. The parties amended the COO Agreement to increase the annual base salary to $180,000 payable in twelve equal monthly installments, effective September 8, 2025.

***Ernest Yeung***

 ****

The Company (or one of its subsidiaries) has entered into an Executive Employment Agreement, dated July 9, 2025 (the "CFO Agreement") with Mr. Ernest Yeung, the Company's Chief Financial Officer, effective as of July 15, 2025. With initial term of two years, the CFO Agreement term automatically renews for successive one-year terms as of the commencement date unless prior written notice by either party within thirty days prior to end of the current term. The CFO Agreement provides for termination of employment and severance benefits under stated conditions and restrictive covenants. The CFO Agreement provides an annual base salary of $85,000. The CFO Agreement provides for an initial equity grant of 30,000 ordinary shares, along with an annual equity awards with a target value of approximately 30,000 ordinary shares subject to Mr. Yeung's continued employment with the Company.

***Wai Wong Chong***

 ****

The Company (or one of its subsidiaries) has entered into an Executive Employment Agreement, dated June 6, 2025 (the "CTO Agreement") with Mr. Wai Wong Chong, the Company's Chief Technology Officer, effective as of May 21, 2025. With initial term of two years, the CTO Agreement term automatically renews for successive one-year terms as of the commencement date unless prior written notice by either party within thirty days prior to end of the current term. The CTO Agreement provides for termination of employment and severance benefits under stated conditions and restrictive covenants. The CTO Agreement provides an annual base salary of $240,000. The CTO Agreement provides for an initial equity grant of 100,000 ordinary shares, followed with receive annual equity awards with a target value of approximately 100,000 ordinary shares subject to Mr. Chong's continued employment with the Company.

***Li Hsien Wong***

 ****

The Company (or one of its subsidiaries) has entered into an Executive Employment Agreement, dated June 6, 2025 (the "CEO Agreement") with Mr. Li Hsien Wong, the Company's Chief Executive Officer, effective as of May 21, 2025. With initial term of two years, the CEO Agreement term automatically renews for successive one-year terms as of the commencement date unless prior written notice by either party within thirty days prior to end of the current term. The CEO Agreement provides for termination of employment and severance benefits under stated conditions and restrictive covenants. The CEO Agreement provides an annual base salary of $240,000. The CEO Agreement provides for an initial equity grant of 100,000 ordinary shares, followed with receive annual equity awards with a target value of approximately 100,000 ordinary shares subject to Mr. Wong's continued employment with the Company.

**Compensation of Directors**

The following table sets forth compensation we paid to our directors during the year ended March 31, 2026 (excluding compensation under the Summary Compensation table above).

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Name** | **Fees Earned**<br> **or Paid in**<br> **Cash**<br>**($)** | **Stock**<br> **Awards**<br>**($)** | **Option**<br> **Awards**<br>**($)** | **All Other**<br> **Compensation**<br>**($)** | **Total**<br>**($)** |
| Andrew Scott (Director) | $10000 |  | $- |  | $10000 |

---

**Outstanding Equity Awards at Fiscal Year-End**

The following table discloses information regarding outstanding equity awards granted or accrued as of March 31, 2026, for our named executive officers.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Option Awards** | **Option Awards** | **Option Awards** | **Stock Awards** | **Stock Awards** | **Stock Awards** |
| <br>**Name** | **Number of**<br> **Securities**<br> **Underlying**<br> **Unexercised Options (#) Vested** | **Number of Securities Underlying**<br> **Unexercised Options (#) Unvested** | **Option Exercise**<br> **Price ($)** | **Option Expiration Date** | **Number of Shares or Units of Stock (#) that Vested** | **Market value of Shares or Units of Stock (#) that have not Vested** |
| Larry Wong |  |  |  | N/A | 124451 | 49334 |

---

**Clawback Policy**

In accordance with SEC and Nasdaq requirements, we have adopted an Executive Compensation Clawback Policy. The recovery of incentive-based compensation from an executive officer as provided for in this policy shall apply only in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of Company with any financial reporting requirement under the United States securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error was corrected in the current period or left uncorrected in the current period. Our Compensation Committee's decisions with respect to this policy shall be final, conclusive, and binding on all of our executive officers.

**PRINCIPAL SHAREHOLDERS**

The following table sets forth information regarding the beneficial ownership of our Class A ordinary shares and Class B ordinary shares as of the Record Date, with regard to (i) each person, or group of affiliated persons, known to us to be the beneficial owner of more than five percent of our Class A ordinary shares and Class B ordinary shares; (ii) each of our directors; (iii) each of our named executive officers; and (iv) all of our current directors and executive officers as a group.

We have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days. Unless otherwise indicated, the person identified in this table has sole voting and investment power with respect to all shares shown as beneficially owned by him, subject to applicable community property laws.

The percentage of beneficial ownership is based on 26,266,846 shares of Class A ordinary shares issued and outstanding and 20,000,000 shares of Class B ordinary shares issued and outstanding as of April 16, 2026.

In accordance with SEC rules, ordinary shares which may be acquired upon exercise of stock options or warrants which are currently exercisable or which become exercisable within 60 days of the Record Date are deemed beneficially owned by the holders of such options and warrants and are deemed outstanding for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage of ownership of any other person.

Unless otherwise indicated and subject to community property laws and similar laws, except as otherwise indicated below, OFA believes that all parties named in the table below have sole voting and investment power with respect to all ordinary shares beneficially owned by them.

None of our shareholders has informed us that it is affiliated with a registered broker-dealer or is in the business of underwriting securities. We are not aware of any arrangement that may, at a subsequent date, result in a change of control of our company.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name and Address of Beneficial Owner<sup>(1)</sup>** | **Class A**<br> **Ordinary**<br> **Shares** | **Percentage**<br> **Ownership**<br> **of Outstanding**<br> **Class A**<br> **Ordinary**<br> **Shares<sup>(2)</sup>** | **Class B**<br> **Ordinary**<br> **Shares** | **Percentage Ownership of Outstanding Class B Ordinary Shares<sup>(3)</sup>** | **Percentage of**<br> **Total Voting**<br> **Power** |
| **5% or Greater Shareholders (Other Than Executive Officers and Directors):** |  |  |  |  |  |
| FNHK Inc. (4) | 1649445 | 6.28% | 6666667 | 33.33% | 31.98% |
| CP COWORK LIMITED (5) | 1649444 | 6.28% | 6666666 | 33.33% | 31.98% |
| R-OPUS Inc. (6) | 4412222 | 16.80% | 6666667 | 33.33% | 32.51% |
| Greentree Financial Group Inc. (7) | 2655471 | 9.99% |  |  | \*% |
| TriCore Foundation, LLC (8) | 9270965 | 35.30% |  |  | 1.76% |
| **Executive Officers and Directors** |  |  |  |  |  |
| Larry Wong | 10920410 | 41.57% | 6666667 | 33.33% | 33.74% |
| Keith Chong | 1649444 | 6.28% | 6666666 | 33.33% | 31.98% |
| John Chiang |  |  |  |  |  |
| Andrew Scott |  |  |  |  |  |
| Erwin Baquiran Pineda |  |  |  |  |  |
| Thomas Gaffney | 3750 | \* |  |  |  |
| Ernest Yeung |  |  |  |  |  |
| **All directors and executive officers as a group (seven individuals)** | 12573604 | 47.87% | 13333333 | 66.667% | 65.73% |

---

\* Less than 1%.

(1) Except as otherwise indicated below, the business address of our directors and executive officers is Unit B, 16/F, Easy Tower, 609 Tai Nan West Street, Cheung Sha Wan, Hong Kong.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Except
 as otherwise indicated, based on 26,266,846
 Class A ordinary shares issued and outstanding as of the Record Date.

(3) Based
 on 20,000,000 Class B ordinary shares issued and outstanding as of the date of this Record Date.

(4) Represents
 1,649,445 Class A ordinary shares and 6,666,667 Class B ordinary shares held by FNHK Inc., a U.S. corporation. Larry Wong, our Chief
 Executive Officer and director, exercises voting and dispositive power over the securities held by FNHK Inc. The address of FNHK
 Inc. is 609 Deep Valley Dr., Suite 223, Rolling Hills, CA 90274.

(5) Represents
 1,649,444 Class A ordinary shares and 6,666,666 Class B ordinary shares held by CP COWORK LIMITED, a HK incorporated company. Keith
 Chong, our Chief Technology Officer and director, exercises voting and dispositive power over the securities held by CP COWORK LIMITED.
 The business address of CP COWORK LIMITED is Unit B, 16/F, Easy Tower, 609 Tai Nan West Street, Cheung Sha Wan, Hong Kong and its
 registered office is at 11/F, Daily House, 35-37 Haiphong Road, Tsim Sha Tsui, Kowloon, Hong Kong.

(6) Represents
 4,002,222 Class A ordinary shares and 6,666,667 Class B ordinary shares held by R-OPUS, Inc., a US corporation. Weiyi C. Yu exercises
 voting and dispositive power over the securities held by R-OPUS, Inc. The address of R-OPUS, Inc. is 9854 National Blvd. Suite 1257,
 Los Angeles, CA 90034.

(7) Represents
 2,341,023 Class A ordinary shares held by Greentree Financial Group, Inc. and 314,448 issuable upon conversion of 1,080 Series A Preferred Shares. For purposes of calculating Greentree Financial Group, Inc.'s percentage ownership of Class A ordinary shares,
such 314,448 Class A ordinary shares are deemed outstanding, resulting in a denominator of 26,581,294 Class A ordinary shares. Christopher Cottone exercises voting and dispositive power over the securities held by Greentree Financial Group,
Inc. The address for Greentree Financial Group, Inc. is 900 S. Pine Island Road, Suite 310, Plantation, Florida 33324.

(8) Represents
 9,270,965 Class A ordinary shares held by TriCore Foundation, LLC, a US limited liability company. TriCore Foundation,
 LLC is owned equally by certain Company insiders, including Li Hsien "Larry" Wong, Wai Wong "Keith" Chong,
 and R-Opus Inc., whose beneficial owner is Weiyi Yu. Li Hsien "Larry" Wong, as TriCore Foundation, LLC's manager
 exercises voting and dispositive power over the securities held by TriCore Foundation, LLC. The address of TriCore Foundation,
 LLC is 609 Deep Valley Drive, Suite 200, Rolling Hills, CA 90274.

**PROPOSAL 1:**

**SHARE CONSOLIDATION**

**Authorizing the Board to effect a share consolidation of the Company's Class A ordinary shares at a ratio of 1 for 10.**

**General**

The Board believes that it is in the best interest of the Company and the shareholders and is hereby soliciting shareholder approval to effect a share consolidation of all the Company's Class A ordinary shares to be consolidated at a ratio of 1 for 10, inclusive, whereby, except as explained below with respect to fractional shares, on the effective date, all of the Company's issued and unissued Class A ordinary shares will be, automatically and without any action on the part of the shareholders, combined, consolidated, converted and changed into new Class A ordinary shares in accordance with the share consolidation ratio with such consolidated Class A ordinary shares having the same rights and being subject to the same restrictions (save as to par value) as the existing Class A ordinary shares in the capital of the Company as set out in the Second Amended and Restated Memorandum and Articles of Association.

If shareholders approve the Share Consolidation Proposal, the share consolidation will be effectively immediately (the "**Effective Time**").

Any one director or officer of the Company is to be authorized, for and on behalf of the Company, to do all such other acts or things necessary or desirable to implement, carry out, and give effect to the share consolidation, if and when deemed advisable by the Board in its sole discretion.

**Purpose**

The purpose for seeking approval to effect the share consolidation is to increase the market price of our Class A ordinary shares. The Company believes that effecting the share consolidation will help achieve compliance with the minimum bid price requirement for continued inclusion on The Nasdaq Stock Market ("Nasdaq") under Nasdaq Listing Rule 5550(a)(2) ("Rule 5550(a)(2)"). On December 11, 2025, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that the closing bid price per share for its ordinary shares was below $1.00 for a period of 30 consecutive business days and that the Company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).

We cannot assure you that, following the share consolidation, we will be able to maintain the required minimum bid price required for continued listing on Nasdaq. Also, we cannot assure you that an active and liquid public market for our Class A ordinary shares will exist. Further, notwithstanding the minimum bid price requirement, the listing of our shares on Nasdaq may be halted or discontinued if we are unable to maintain other Nasdaq listing requirements or for various other reasons,

The Share Consolidation Proposal is to improve the trading price for the Company's Class A ordinary shares, and if needed in order maintain compliance with the Nasdaq rules and only if the implementation of the share consolidation is determined by the Board to be in the best interests of the Company and its shareholders. There can be no assurance that the share consolidation, if and when implemented, will achieve any of the desired results. There also can be no assurance that the Company will be successful in maintaining compliance with the Nasdaq requirements or that the price per share of the Company's Class A ordinary shares immediately after the share consolidation, if implemented, will increase proportionately with the share consolidation, or that any increase will be sustained for any period of time.

**Fractional Shares**

Shareholders would not receive fractional Class A ordinary shares in connection with the share consolidation. Instead, the Company will round down each holder's fractional share to the nearest whole number. As a result, you must hold Class A ordinary shares in multiples of ten (10) before the share consolidation in order to receive post consolidation shares for all of your shares.

If you believe that you may not hold sufficient Class A ordinary shares at the Effective Time to do so in the share consolidation, you may either:

● purchase a sufficient number of Class A ordinary shares; or

● if you have Class A ordinary shares in more than one account, consolidate your accounts;

in each case, so that you hold a number of Class A ordinary shares in your account prior to the share consolidation that would entitle you to receive at least one Class A ordinary share in the share consolidation. Class A ordinary shares held in registered form and in "street name" (that is, through a broker, bank or other holder of record) for the same shareholder will be considered held in separate accounts and will not be aggregated when effecting the share consolidation.

**Effect on Class A Ordinary Shares and Par Value**

If the share consolidation is approved by our shareholders, as of the Effective Time, all Class A ordinary shares (issued and unissued) will automatically be combined into new Class A ordinary shares in accordance with the share consolidation ratio and our Class A ordinary shares will have a new CUSIP number. Additionally, the number of authorized Class A ordinary shares would be reduced and the par value of all of the Class A ordinary shares would be adjusted, each proportionate to the share consolidation ratio.

**Effect on Outstanding Equity Awards, Warrants, and Equity Plans**

If the share consolidation is approved by our Shareholders and our Board decides to implement the share consolidation, as of the Effective Time, proportionate adjustments will be made to (i) the number of Class A ordinary shares subject to all then-outstanding equity awards and warrants, such that fewer shares would underly such awards and warrants and (ii) the exercise price of all then-outstanding options and warrants, such that the per share exercise price of each such option and warrant would be increased.

**Accounting Consequences**

The share consolidation will not have an effect on the stated capital attributable to ordinary shares on our balance sheet because the par value of each of the ordinary shares will be increased by the same ratio as the ratio contemplated by the share consolidation. Reported net income or loss per ordinary share and book value per ordinary share will be higher because there will be fewer ordinary shares.

**Material U.S. Federal Income Tax Consequences of the Share Consolidation**

The following is a summary of the material U.S. federal income tax consequences of an implemented share consolidation to U.S. Holders (as defined below) that hold our Class A ordinary shares as "capital assets" (generally, property held for investment) within the meaning of Section 1221 of the U.S. Internal Revenue Code of 1986, as amended (the "Code"). This summary is based on the Code, the Treasury regulations promulgated thereunder, and administrative rulings, pronouncements and court decisions in effect as of the date of this proxy statement, all of which may be subject to change, possibly with retroactive effect. No assurance can be given that the Internal Revenue Service (the "IRS") will agree with the consequences described in this summary, or that a court will not sustain any challenge by the IRS in the event of litigation. No advance tax ruling has been or will be sought or obtained from the IRS regarding the tax consequences of the share consolidation. This summary assumes that we are a foreign corporation that is not a "passive foreign investment company" within the meaning of Section 1297(a) of the Code.

For purposes of this summary, a "U.S. Holder" is a beneficial owner of our Class A ordinary shares that is (a) an individual who is a citizen or resident of the United States for U.S. federal income tax purposes, (b) an entity that is classified for U.S. federal income tax purposes as a corporation and that is organized under the laws of the United States, any state thereof, or the District of Columbia, or is otherwise treated for U.S. federal income tax purposes as a domestic corporation, (c) an estate the income of which is subject to U.S. federal income taxation regardless of its source, or (d) a trust (i) the administration of which is subject to the primary supervision of a court within the United States and all substantial decisions of which are subject to the control of one or more "United States persons" as described in Section 7701(a)(30) of the Code ("United States persons"), or (ii) that has a valid election in effect under applicable Treasury regulations to be treated as a United States person.

This summary does not discuss all U.S. federal income tax considerations that may be relevant to U.S. Holders in light of their particular circumstances or that may be relevant to certain beneficial owners that may be subject to special treatment under U.S. federal income tax law (for example, tax-exempt or governmental organizations, S corporations, partnerships and other pass through entities (and investors therein), mutual funds, insurance companies, banks, thrifts and other financial institutions, dealers in securities, brokers or traders in securities, commodities or currencies that elect to use a mark-to-market method of accounting, real estate investment trusts, regulated investment companies, individual retirement accounts, qualified pension plans or other tax deferred accounts, persons who hold our Class A ordinary shares as part of a straddle, hedge, constructive sale, wash sale, synthetic security, conversion, or other integrated transaction, persons required for U.S. federal income tax purposes to conform the timing of income accruals to their financial statements under Section 451 of the Code, persons that own or are deemed to own 10% or more of our shares (by vote or value), persons holding our Class A ordinary shares in connection with a trade or business conducted outside of the United States or in connection with a permanent establishment or other fixed place of business outside of the United States, U.S. Holders that have a functional currency other than the U.S. dollar, and persons who acquired our Class A ordinary shares as a result of the exercise of employee stock options or otherwise as compensation or through a tax-qualified retirement plan). Furthermore, this summary does not discuss any alternative minimum tax consequences or the Medicare contribution tax on net investment income and does not address any aspects of U.S. state or local or non-U.S. taxation.

If an entity or arrangement classified for U.S. federal income tax purposes as a partnership owns our Class A ordinary shares, the tax treatment of a member of the entity or party to such an arrangement will depend on the status of the member and the activities of the entity and such member. The tax treatment of such an entity or arrangement, and of any member of such an entity or party to such an arrangement, is not addressed in this summary. Any entity or arrangement that is classified for U.S. federal income tax purposes as a partnership and that owns our Class A ordinary shares, and any members of such an entity and parties to such an arrangement, are encouraged to consult their respective tax advisors.

THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. U.S. HOLDERS OF OUR CLASS A ORDINARY SHARES ARE ENCOURAGED TO SEEK ADVICE FROM THEIR OWN TAX ADVISORS REGARDING THE INCOME TAX CONSEQUENCES OF THE SHARE CONSOLIDATION TAKING INTO ACCOUNT THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE SHARE CONSOLIDATION ARISING UNDER THE U.S. FEDERAL INCOME, ESTATE OR GIFT TAX LAWS OR UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY.

We intend for any share consolidation to qualify as a "recapitalization" for U.S. federal income tax purposes and, consequently, as a "reorganization" within the meaning of Section 368(a)(1)(E) of the Code. Assuming a share consolidation so qualifies:

● a U.S. Holder will not recognize gain or loss as a result of such share consolidation, except with respect to any cash received in lieu of a fractional Class A ordinary share;

● the aggregate tax basis of our Class A ordinary shares received by a U.S. Holder in such share consolidation will be equal to the aggregate tax basis of the ordinary shares surrendered in exchange therefor (excluding any portion of such basis allocable to a fractional Class A ordinary share);

● the holding period of our Class A ordinary shares received by a U.S. Holder in such share consolidation will include the holding period of the ordinary shares exchanged therefor;

● a U.S. Holder that receives cash in lieu of a fractional Class A ordinary share pursuant to such share consolidation will generally be treated as having received the fractional Class A ordinary share pursuant to such share consolidation and then as having sold such fractional Class A ordinary share for cash to a third party and, accordingly, should recognize taxable capital gain or loss in an amount equal to the difference, if any, between the amount of cash received and the portion of such U.S. Holder's aggregate adjusted tax basis in the surrendered ordinary shares that is allocated to such fractional Class A ordinary share; and

● any such capital gain or loss will be long-term capital gain if the surrendered ordinary shares were held for more than one year at the time of such share consolidation.

U.S. Treasury regulations provide detailed rules for allocating the tax basis and holding period among our Class A ordinary shares acquired by a shareholder on different dates and at different prices. U.S. Holders that acquired our Class A ordinary shares on different dates or at different prices should consult their tax advisors regarding the allocation of the tax basis and holding period among such ordinary shares.

Payments of cash made in lieu of a fractional Class A ordinary share may, under certain circumstances, be subject to information reporting and backup withholding. To avoid backup withholding, each U.S. Holder of our Class A ordinary shares that does not otherwise establish an exemption from backup withholding should furnish, generally on IRS Form W-9, its taxpayer identification number and comply with the applicable certification procedures.

Backup withholding is not an additional tax and amounts withheld will be allowed as a credit against a U.S. Holder's U.S. federal income tax liability and may entitle such U.S. Holder to a refund, provided the required information is timely furnished to the IRS. U.S. Holders of our Class A ordinary shares should consult their own tax advisors regarding the application of the information reporting and backup withholding rules to them.

**Procedures for Effecting Share Consolidation**

As soon as practicable after the effective date of the share consolidation, the Company's shareholders will be notified that the share consolidation has been effected.

*Registered "Book-Entry" Holders of Class A Ordinary Shares*

 

As all of the outstanding Class A ordinary shares are held in book-entry form, you will not need to take any action to receive post-share consolidation Class A ordinary shares. As soon as practicable after the Effective Time, the Company's transfer agent will send to your registered address a transmittal letter along with a statement of ownership indicating the number of post-share consolidation Class A ordinary shares you hold. If applicable, a check representing a cash payment in lieu of fractional shares will also be mailed to your registered address as soon as practicable after the Effective Time (see "-Fractional Shares").

*Beneficial Holders of Class A Ordinary Shares*

 

Upon the implementation of the share consolidation, we intend to treat Class A ordinary shares held by shareholders in "street name" (i.e., through a bank, broker, custodian, or other nominee), in the same manner as registered "book-entry" holders of our Class A ordinary shares. Banks, brokers, custodians or other nominees will be instructed to effect the share consolidation for their beneficial holders holding our Class A ordinary shares in street name. However, these banks, brokers, custodians or other nominees may have different procedures than registered shareholders for processing the share consolidation and making payment for fractional shares. If a shareholder holds our Class A ordinary shares with a bank, broker, custodian, or other nominee and has any questions in this regard, shareholders are encouraged to contact their bank, broker, custodian, or other nominee.

**Certain Risk Factors Associated with the Share Consolidation**

*A share consolidation may negatively impact the market for our Class A ordinary shares.*

 

Factors such as our financial results, market conditions and the market perception of our business may adversely affect the market price of our Class A ordinary shares. As a result, there can be no assurance that the total market capitalization of our Class A ordinary shares after the proposed share consolidation will be equal to or greater than the total market capitalization before the proposed share consolidation or that the per share market price of our Class A ordinary shares following the share consolidation will increase in proportion to the reduction in the number of ordinary shares outstanding before the share consolidation. A decline in the market price of our Class A ordinary shares after the share consolidation may result in a greater percentage decline than would occur in the absence of the share consolidation, and the liquidity of our Class A ordinary shares could be adversely affected following such the share consolidation.

In addition, the share consolidation may increase the number of shareholders who own odd lots (less than 100 shares), depending on the final ratio. Shareholders who hold odd lots may experience an increase in the cost of selling their shares and may have greater difficulty in effecting sales.

**Votes Required for Approval**

Approval of Proposal No. 1 requires the affirmative vote of a majority of the shares entitled to vote and present in person or represented by proxy at the Extraordinary General Meeting. Abstentions and Broker Non-Votes, while considered present for the purposes of establishing a quorum, will have no effect on the outcome of this proposal.

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE** "**FOR**" **THE APPROVAL OF THE SHARE CONSOLIDATION PROPOSAL.**

**PROPOSAL 2:**

**AS A SPECIAL RESOLUTION, SUBJECT TO THE APPROVAL OF THE SHARE CONSOLIDATION PROPOSAL, TO APPROVE AND ADOPT THE THIRD AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION ("3<sup>rd</sup> M&AA")**

In connection with the proposed Share Consolidation Proposal, the Board of the Company approved, and directed that there be submitted to the shareholders of the Company for approval, the adoption of the 3<sup>rd</sup> M&AA, in its entirety and substitution of the existing second amended and restated amended and restated memorandum and articles of association, subject to the approval of Proposal 1 by the shareholders.

The text of the proposed 3<sup>rd</sup> M&A is set forth in Annex A to this proxy and is incorporated by reference into this proxy.

If the proposal is approved by our shareholders, the Company's registered office provider will file the 3<sup>rd</sup> M&A with the Cayman Islands Registrar of Companies.

**Votes Required**

Approval of Proposal No. 2 requires the affirmative vote of a two-thirds of the shares entitled to vote and present in person or represented by proxy at the Extraordinary General Meeting. Abstentions and Broker Non-Votes, while considered present for the purposes of establishing a quorum, will have no effect on the outcome of this proposal.

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE** "**FOR**" **THE APPROVAL AND ADOPTION OF *THE* THIRD *M&A****.*

**PROPOSAL 3:**

**INCENTIVE PLAN PROPOSAL**

At the Extraordinary General Meeting, our shareholders will be asked to consider and vote upon a proposal to approve the OFA Group 2026 Equity Incentive Plan, which is referred to herein as the "2026 Plan," a copy of which is attached to this Proxy Statement as Annex B.

On May 8, 2026, our Board adopted and approved the 2026 Plan, subject to shareholder approval. The 2026 Plan will become effective on the date it is approved by our shareholders at the Extraordinary General Meeting. If the 2026 Plan is not approved by our shareholders, it will not become effective, and no awards will be granted thereunder.

**Reasons for the Adoption of the 2026 Plan**

Management has determined that it is in the best interests of the Company to adopt the 2026 Plan, pursuant to which we will be able to grant awards of options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent awards, and other stock- and cash-based awards.

**Summary of Material Terms of the 2026 Plan**

The following is a summary of the material features of the 2026 Plan. This summary is qualified in its entirety by the full text of the 2026 Plan, a copy of which is included as Annex B to this Proxy Statement.

*Purpose*

The purpose of the 2026 Plan is to enhance the ability of the Company to attract, retain and motivate persons who make important contributions to the Company by providing these individuals with equity ownership opportunities and/or equity-linked compensatory opportunities. Equity awards and equity-linked compensatory opportunities are intended to assist in further aligning the interests of directors, employees, and consultants with those of our shareholders.

*Eligibility*

The Administrator may grant awards to any director, employee or consultant of the Company or its subsidiaries. Only employees are eligible to receive incentive stock options. As of the date of this Proxy Statement, approximately 10 individuals will be eligible to participate in the 2026 Plan, which includes approximately 3 non-employee directors, 6 employees, and 1 consultants.

*Administration*

The 2026 Plan will be administered by the Board of Directors (the "Board") or one more committees or subcommittees of the Board, which will be comprised, unless otherwise determined by the Board, solely of not less than two members who will be non-employee directors (a "Committee"), or any officer that has been delegated administrative authority pursuant to the 2026 Plan for the duration such delegation is in effect (collectively, the "Administrator"). The Administrator will have full power to (i) designate participants; (ii) determine the type or types of awards to be granted to a participant; (iii) determine the number of shares to be covered by, or with respect to which payments, rights, or other matters are to be calculated in connection with, awards; (iv) determine the terms and conditions of any award; (v) determine whether, to what extent, and under what circumstances awards may be settled or exercised in cash, shares, other securities, other awards or other property, or canceled, forfeited, or suspended, and the method or methods by which awards may be settled, exercised, canceled, forfeited, or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery of cash, shares, other securities, other awards or other property and other amounts payable with respect to an award shall be made; (vii) interpret, administer, reconcile any inconsistency in, settle any controversy regarding, correct any defect in and/or complete any omission in the 2026 Plan and any instrument or agreement relating to, or award granted under, the 2026 Plan; (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the administrator shall deem appropriate for the proper administration of the 2026 Plan; (ix) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, awards; (x) to reprice existing awards or to grant awards in connection with or in consideration of the cancellation of an outstanding award with a higher price; and (xi) make any other determination and take any other action that the administrator deems necessary or desirable for the administration of the 2026 Plan.

*Share Reserve*

The maximum aggregate number of shares of our ordinary shares (the "Shares") that may be issued under the 2026 Plan is the sum of (A) 3,940,027 (after giving effect to the share consolidation), plus (B) an increase commencing on January 1, 2027 and continuing annually on each anniversary thereof through and including January 1, 2036, equal to the lesser of (i) 5% of the Shares outstanding on the last day of the immediately preceding calendar year and (ii) such smaller number of Shares as determined by the Board or the Committee.

10,000,000 Shares may be issued upon the exercise of incentive stock options.

Shares issuable under the 2026 Plan may be authorized, but unissued, or reacquired Shares. Shares underlying any awards under the 2026 Plan that are settled in cash, forfeited, canceled, repurchased, held back upon exercise of an option or settlement of an award to cover the exercise price or tax withholding satisfied without the issuance of Shares or otherwise terminated (other than by exercise) will be added back to the Shares available for issuance under the 2026 Plan, although shares shall not again become available for issuance as incentive stock options. Additionally, Shares issued as "substitute awards" (as defined in the 2026 Plan) will not count against the 2026 Plan's share limit, except substitute awards that are incentive stock options will count against the incentive stock option limit.

The share reserve described herein may be subject to certain adjustments in the event of certain changes in the capitalization of the Company (see *Equitable Adjustments* below).

*Annual Limitation on Awards to Non-Employee Directors*

The 2026 Plan contains a limitation whereby the value of all awards under the 2026 Plan and all other cash compensation paid by the Company to any non-employee director may not exceed $1,000,000 for the first calendar year a non-employee director is initially appointed to the Board, and $750,000 in any other calendar year.

*Types of Awards*

The 2026 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent awards, and other stock- or cash-based awards (collectively, "awards").

<u>Stock Options</u>. The 2026 Plan permits the granting of both options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended (the "Code") and options that do not so qualify. Options granted under the 2026 Plan will be nonqualified options if they fail to qualify as incentive stock options or exceed the annual limit on incentive stock options. Incentive stock options may only be granted to employees of the Company and its subsidiaries. Nonqualified options may be granted to any persons eligible to receive awards under the 2026 Plan.

The exercise price of each option will be determined by the Administrator, but such exercise price may not be less than 100% of the fair market value of one Share on the date of grant or, in the case of an incentive stock option granted to a 10% or greater shareholder, 110% of such Share's fair market value. The term of each option will be set by the Administrator and may not exceed ten (10) years from the date of grant (or five (5) years for an incentive stock option granted to a 10% or greater shareholder). The Administrator will determine at what time or times each option may be exercised, including the ability to accelerate the vesting of such options.

Upon exercise of an option, the exercise price must be paid in full either in cash, check or, with approval of the Administrator, by surrender of other Shares that meet the conditions established by the Administrator to avoid adverse accounting consequences to the Company, by broker-assisted cashless exercise, by delivery of a notice of "net exercise" to the Company, such other consideration and method of payment to the extent permitted by applicable law, or any combination of the foregoing methods of payment.

<u>Stock Appreciation Rights</u>. The Administrator may award stock appreciation rights subject to such conditions and restrictions as it may determine. Stock appreciation rights entitle the recipient to Shares or cash, equal to the value of the appreciation in the Company's stock price over the exercise price, as set by the Administrator and which will be at least equal to the fair market value of a Share on the grant date. The term of each stock appreciation right will be set by the Administrator and may not exceed ten years from the date of grant. The Administrator will determine at what time or times each stock appreciation right may be exercised, including the ability to accelerate the vesting of such stock appreciation rights.

<u>Restricted Stock</u>. A restricted stock award is an award of Shares that vest in accordance with the terms and conditions established by the Administrator. The Administrator will determine the persons to whom grants of restricted stock awards are made, the number of restricted shares to be awarded, the price (if any) to be paid for the restricted shares, the time or times within which awards of restricted stock may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of restricted stock awards. Unless otherwise provided in the applicable award agreement, a participant generally will have the rights and privileges of a shareholder as to such restricted shares, including without limitation the right to vote such restricted shares and the right to receive cash dividends, if applicable.

<u>Restricted Stock Units</u>. Restricted stock units are the right to receive Shares at a future date in accordance with the terms of such grant upon the attainment of certain conditions specified by the Administrator. Restrictions or conditions could include, but are not limited to, the attainment of performance goals, continuous service with the Company or its subsidiaries, the passage of time or other restrictions or conditions. The Administrator determines the persons to whom grants of restricted stock units are made, the number of restricted stock units to be awarded, the time or times within which awards of restricted stock units may be subject to forfeiture, the vesting schedule, and rights to acceleration thereof, and all other terms and conditions of the restricted stock unit awards. The value of the restricted stock units may be paid in Shares, cash, other securities, other property, or a combination of the foregoing, as determined by the Administrator.

The holders of restricted stock units will have no voting rights. Prior to settlement or forfeiture, restricted stock units awarded under the 2026 Plan may, at the Administrator's discretion, provide for a right to dividend equivalents.

<u>Performance Awards</u>. The Administrator has the authority to grant stock options, stock appreciation rights, restricted stock, or restricted stock units as a performance award, which means that such awards vest at least in part upon the attainment of one or more specified performance criteria. For each performance period, the Administrator will have the sole authority to select the length of such performance period, the types of performance award to be granted, the performance criteria that will be used to establish the performance goals, and the level(s) of performance which shall result in a performance award being earned. At any time, the Administrator may adjust or modify the calculation of a performance goal for a performance period, to appropriately reflect any circumstance or event that occurs during a performance period and that in the Administrator's sole discretion, warrants adjustment or modification. Depending on the type of performance award granted, the previously discussed terms and conditions will also apply to a performance award.

Performance criteria for a performance award may be based on the attainment of specific levels of performance of the Company (and/or one or more subsidiaries, divisions, business segments or operational units, or any combination of the foregoing) and may include, without limitation, any of the following: (i) net earnings or net income (before or after taxes); (ii) basic or diluted earnings per share (before or after taxes); (iii) revenue or revenue growth (measured on a net or gross basis); (iv) gross profit or gross profit growth; (v) operating profit (before or after taxes); (vi) return measures (including, but not limited to, return on assets, capital, invested capital, equity, or sales); (vii) cash flow (including, but not limited to, operating cash flow, free cash flow, net cash provided by operations and cash flow return on capital); (viii) financing and other capital raising transactions (including, but not limited to, sales of the Company's equity or debt securities); (ix) earnings before or after taxes, interest, depreciation and/or amortization; (x) gross or operating margins; (xi) productivity ratios; (xii) share price (including, but not limited to, growth measures and total shareholder return); (xiii) expense targets; (xiv) margins; (xv) productivity and operating efficiencies; (xvi) customer satisfaction; (xvii) customer growth; (xviii) working capital targets; (xix) measures of economic value added; (xx) inventory control; (xxi) enterprise value; (xxii) sales; (xxiii) debt levels and net debt; (xxiv) combined ratio; (xxv) timely launch of new facilities; (xxvi) client retention; (xxvii) employee retention; (xxviii) timely completion of new product rollouts; (xxix) cost targets; (xxx) reductions and savings; (xxxi) productivity and efficiencies; (xxxii) strategic partnerships or transactions; and (xxxiii) personal targets, goals or completion of projects. Any one or more of the performance criteria may be used on an absolute or relative basis to measure the performance of the Company and/or one or more subsidiaries as a whole or any business unit(s) of the Company and/or one or more subsidiaries or any combination thereof, or any of the above performance criteria may be compared to the performance of a selected group of comparison or peer companies, or a published or special index that the Administrator deems appropriate, or as compared to various stock market indices.

<u>Dividend Equivalents</u>. An award of dividend equivalents entitles the holder to be credited with an amount equal to all dividends paid on one Share while the holder's tandem award is outstanding. Dividend equivalents may be paid currently or credited to an account for the participant, settled in cash or Shares, and subject to the same restriction on transferability and forfeitability as the award with respect to which the dividend equivalents are granted.

<u>Other Stock- or Cash-Based Awards</u>. Other stock-based awards may be granted either alone, in addition to, or in tandem with, other awards granted under the 2026 Plan and/or cash awards made outside of the 2026 Plan. The Administrator shall have authority to determine the service providers to whom and the time or times at which other stock-based awards shall be made, the amount of such other stock-based awards, and all other conditions of the other stock-based awards including any dividend and/or voting rights. The Administrator may grant cash awards in such amounts and subject to such performance or other vesting criteria and terms and conditions as the Administrator may determine.

*Repricing*

Notwithstanding anything to the contrary in the 2026 Plan, unless a repricing is approved by shareholders, in no case may the Administrator (i) amend an outstanding option or stock appreciation right to reduce the exercise price of the award, (ii) cancel, exchange, or surrender an outstanding option or stock appreciation right in exchange for cash or other awards for the purpose of repricing the award, or (iii) cancel, exchange, or surrender an outstanding option or stock appreciation right in exchange for an option or stock appreciation right with an exercise price that is less than the exercise price of the original award.

*Tax Withholding*

Participants in the 2026 Plan are responsible for the payment of any federal, state, or local taxes that the Company or its subsidiaries are required by law to withhold upon the exercise of options or stock appreciation rights or vesting of other awards. Without limitation, the Administrator may, in its sole discretion, permit a participant to satisfy, in whole or in part, the foregoing withholding liability by (A) the delivery of Shares (which are not subject to any pledge or other security interest) owned by the participant having a fair market value equal to such withholding liability, (B) having the Company withhold from the number of Shares otherwise issuable or deliverable pursuant to the exercise or settlement of the award a number of Shares with a fair market value equal to such withholding liability, (C) deducting an amount sufficient to satisfy such withholding obligation from any payment of any kind otherwise due to a participant, (D) accepting a payment from the participant in cash, by wire transfer of immediately available funds, or by check made payable to the order of the Company, or (E) if there is a public market for shares at the time the withholding obligation for a tax obligation is to be satisfied, selling Shares issued pursuant to the award creating the withholding obligation. The amount withheld pursuant to any of the foregoing payment forms will be determined by the Company and may be up to (but not in excess of) the aggregate amount of such obligations based on the maximum statutory withholding rates in the participant's jurisdiction for all tax obligations that are applicable to such taxable income.

*Equitable Adjustments*

In the event of a merger, consolidation, recapitalization, stock split, share consolidation, reorganization, split-up, spin-off, combination, repurchase or other change in corporate structure affecting the Shares, the Administrator will adjust (i) the number and class of shares which may be delivered under the 2026 Plan (or number and kind of other securities or other property); (ii) the number, class and price (including the exercise or strike price of options and stock appreciation rights) of shares subject to outstanding awards, (iii) any applicable performance criteria, performance period, and other terms and conditions of outstanding performance awards, and (iv) the 2026 Plan's numerical limits.

*Change in Control*

In the event of a change in control (as defined in the 2026 Plan), any outstanding award will be treated in accordance with the applicable award agreement. If the applicable award agreement does not specify the treatment of the award in a change in control, the award will be treated as determined by the Administrator and the Administrator is not obligated to treat all outstanding awards similarly.

*Transferability of Awards*

Unless determined otherwise by the Administrator, an award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner, except to a participant's estate or legal representative, and may be exercised, during the lifetime of the participant, only by the participant.

*Term*

The 2026 Plan will become effective when approved by our shareholders, and, unless terminated earlier, the 2026 Plan will continue in effect for a term of ten (10) years.

*Amendment and Termination*

Our Board may amend, alter, suspend or terminate the 2026 Plan at any time. No amendment or termination of the 2026 Plan will materially impair the rights of any participant, unless mutually agreed otherwise between the participant and the Company. Approval of the shareholders shall be required for any amendment, where required by applicable law, as well as (i) to increase the number of Shares available for issuance under the 2026 Plan and (ii) to change the persons or class of persons eligible to receive awards under the 2026 Plan.

*Recoupment Policy*

All awards granted under the 2026 Plan, all amounts paid under the 2026 Plan, and all Shares issued under the 2026 Plan shall be subject to reduction, recoupment, clawback, or recovery by the Company in accordance with applicable laws and with Company policy.

*Form S-8*

The Company intends to file with the SEC a registration statement on Form S-8 covering the Shares issuable under the 2026 Plan.

*Material United States Federal Income Tax Considerations*

The following is a general summary under current law of the material U.S. federal income tax considerations related to awards and certain transactions under the 2026 Plan, based upon the current provisions of the Code and regulations promulgated thereunder. This summary deals with the general federal income tax principles that apply and is provided only for general information. It does not describe all federal tax consequences under the 2026 Plan, nor does it describe state, local, or foreign income tax consequences or federal employment tax consequences. The rules governing the tax treatment of such awards are quite technical, so the following discussion of tax consequences is necessarily general in nature and is not complete. In addition, statutory provisions are subject to change, as are their interpretations, and their application may vary in individual circumstances. This summary is not intended as tax advice to participants, who should consult their own tax advisors.

The 2026 Plan is not qualified under the provisions of Section 401(a) of the Code and is not subject to any of the provisions of the Employee Retirement Income Security Act of 1974, as amended. The Company's ability to realize the benefit of any tax deductions described below depends on the Company's generation of taxable income as well as the requirement of reasonableness and the satisfaction of the Company's tax reporting obligations.

<u>Incentive Stock Options</u>. No taxable income is generally realized by the optionee upon the grant or exercise of an incentive stock option. If Shares issued to an optionee pursuant to the exercise of an incentive stock option are sold or transferred after two years from the date of grant and after one year from the date of exercise, then generally (i) upon sale of such Shares, any amount realized in excess of the option exercise price (the amount paid for the shares) will be taxed to the optionee as a long-term capital gain, and any loss sustained will be a long-term capital loss, and (ii) neither the Company nor its subsidiaries will be entitled to any deduction for federal income tax purposes; provided that such incentive stock option otherwise meets all of the technical requirements of an incentive stock option. The exercise of an incentive stock option will give rise to an item of tax preference that may result in alternative minimum tax liability for the optionee.

If the Shares acquired upon the exercise of an incentive stock option are disposed of prior to the expiration of the two-year and one-year holding periods described above (a "disqualifying disposition"), generally (i) the optionee will realize ordinary income in the year of disposition in an amount equal to the excess (if any) of the fair market value of the Shares at exercise (or, if less, the amount realized on a sale of such Shares) over the option exercise price thereof, and (ii) the Company or its subsidiaries will be entitled to deduct such amount. Special rules will apply where all or a portion of the exercise price of the incentive stock option is paid by tendering Shares.

If an incentive stock option is exercised at a time when it no longer qualifies for the tax treatment described above, the option is treated as a nonqualified option. Generally, an incentive stock option will not be eligible for the tax treatment described above if it is exercised more than three months following termination of employment (or one year in the case of termination of employment by reason of disability). In the case of termination of employment by reason of death, the three-month rule does not apply.

<u>Nonqualified Options</u>. No income is generally realized by the optionee at the time a nonqualified option is granted. Generally, (i) at exercise, ordinary income is realized by the optionee in an amount equal to the difference between the option exercise price and the fair market value of the Shares issued on the date of exercise, and the Company or its subsidiaries receive a tax deduction for the same amount, and (ii) at disposition, appreciation or depreciation after the date of exercise is treated as either short-term or long-term capital gain or loss depending on how long the Shares have been held. Special rules will apply where all or a portion of the exercise price of the nonqualified option is paid by tendering Shares. Upon exercise, the optionee will also be subject to Social Security taxes on the excess of the fair market value of the Shares over the exercise price of the option.

<u>Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Dividend Equivalent Awards and Other Stock- and Cash-Based Awards</u>. The current federal income tax consequences of other awards authorized under the 2026 Plan generally follow certain basic patterns: (i) stock appreciation rights are taxed and deductible in substantially the same manner as nonqualified options; (ii) nontransferable restricted stock subject to a substantial risk of forfeiture results in income recognition equal to the excess of the fair market value of the Shares over the price paid, if any, only at the time the restrictions lapse (unless the recipient elects to accelerate recognition as of the date of grant through a Section 83(b) election); and (iii) restricted stock units, dividend equivalents, and other stock- or cash-based awards are generally subject to tax at the time of payment. The Company or its subsidiaries generally should be entitled to a federal income tax deduction in an amount equal to the ordinary income recognized by the participant at the time the participant recognizes such income.

The participant's basis for the determination of gain or loss upon the subsequent disposition of Shares acquired from a stock appreciation right, restricted stock, restricted stock unit, dividend equivalent award, or other stock-based award will be the amount paid for such shares plus any ordinary income recognized when the shares were originally delivered, and the participant's capital gain holding period for those shares will begin on the day after they are transferred to the participant.

<u>Performance Awards</u>. The tax consequences of performance awards will generally mirror those of the underlying award type, each of which is discussed above.

<u>Parachute Payments</u>. The vesting of any portion of an award that is accelerated due to the occurrence of a change in control (such as a sale event) may cause all or a portion of the payments with respect to such accelerated awards to be treated as "parachute payments" as defined in the Code. Any such parachute payments may be non-deductible to either the Company or its subsidiaries, in whole or in part, and may subject the recipient to a non-deductible 20% federal excise tax on all or a portion of such payment (in addition to other taxes ordinarily payable).

<u>Section 409A</u>. The foregoing description assumes that Section 409A of the Code does not apply to an award under the 2026 Plan. In general, stock options and stock appreciation rights are exempt from Section 409A if the exercise price per share is at least equal to the fair market value per share of the underlying stock at the time the option or stock appreciation right was granted. Restricted stock awards are not generally subject to Section 409A. Restricted stock units are subject to Section 409A unless they are settled within two and one-half months after the end of the later of (1) the end of the Company's fiscal year in which vesting occurs or (2) the end of the calendar year in which vesting occurs. If an award is subject to Section 409A and the provisions for the exercise or settlement of that award do not comply with Section 409A, then the participant would be required to recognize ordinary income whenever a portion of the award vested (regardless of whether it had been exercised or settled). This amount would also be subject to a 20% federal tax and premium interest in addition to the federal income tax at the participant's usual marginal rate for ordinary income.

*New Plan Benefits*

No awards have been previously granted under the 2026 Plan and no awards have been granted that are contingent on shareholder approval of the 2026 Plan. The awards that are to be granted to any participant or group of participants are indeterminable at the date of this Proxy Statement because participation and the types of awards that may be granted under the 2026 Plan are subject to the discretion of the Administrator. Consequently, no new plan benefits table is included in this Proxy Statement.

**Votes Required**

Approval of Proposal No. 3 requires the affirmative vote of a majority of the shares entitled to vote and present in person or represented by proxy at the Extraordinary General Meeting. Abstentions and Broker Non-Votes, while considered present for the purposes of establishing a quorum, will have no effect on the outcome of this proposal.

**THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE** "**FOR**" **THE APPROVAL OF THE 2026 EQUITY INCENTIVE PLAN.**

**PROPOSAL 4** **:**

**THE ADJOURNMENT PROPOSAL**

**Overview**

If either of the Share Consolidation Proposal, 3<sup>rd</sup> M&AA or the Incentive Plan Proposal is not approved by the shareholders, we may put the Adjournment Proposal to a vote. The Adjournment Proposal, if adopted, will allow our Board to adjourn the Meeting to a later date or dates, or indefinitely, to permit further solicitation of proxies.

**Votes Required**

Approval of the Adjournment Proposal, if presented, requires the affirmative vote of a simple majority of the votes cast by the holders of the ordinary shares present in person or represented by proxy at the Extraordinary General Meeting, or any adjournment thereof, and entitled to vote on such matter. Abstentions and Broker Non-Votes, while considered present for the purposes of establishing a quorum, will not count as votes cast and will have no effect on the outcome of the vote.

**Recommendation of the Board**

**THE BOARD UNANIMOUSLY RECOMMENDS THAT OUR SHAREHOLDERS VOTE "FOR" THE APPROVAL OF THE ADJOURNMENT PROPOSAL, IF PRESENTED.**

**HOUSEHOLDING**

We have adopted a procedure approved by the SEC called "householding," by which certain shareholders who do not participate in electronic delivery of proxy materials but who have the same address and appear to be members of the same family receive only one copy of our annual report, proxy statement and shareholder letter. Each shareholder participating in householding continues to receive a separate proxy card. Householding reduces both the environmental impact of our Extraordinary General Meetings and our mailing and printing expenses.

If you or another shareholder with whom you share an address currently receive multiple copies of our annual report, proxy statement, and/or shareholder letter, or if you hold shares in more than one account, but would like to receive only a single copy of materials for your household, then please contact your broker or us. You can make a request by contacting our Chief Executive Officer, by calling (800) 418-5160 or by mail at 609 Deep Valley Drive, Suite 200, Rolling Hills, CA 90274. If you currently participate in householding and would prefer to receive separate copies of materials for the meeting, then please contact us in the manner described above and you will receive additional copies, free of charge and promptly upon receipt of your request.

**ADDITIONAL INFORMATION**

We file period and current reports, proxy statements and other information with the SEC. The SEC maintains a website that contains reports, proxy and information statements, and other information regarding issuers, including us, that file electronically with the SEC. The public can obtain any documents that we file electronically with the SEC at *www.sec.gov*.

This Proxy Statement describes the material elements of relevant contracts, exhibits and other information attached as annexes to this proxy statement. Information and statements contained in this Proxy Statement are qualified in all respects by reference to the copy of the relevant contract or other document.

You may obtain additional copies of this Proxy Statement, at no cost, and you may ask any questions you may have about the Proposals, by contacting the Solicitation Agent at:

Advantage Proxy, Inc.

PO Box 10904

Yakima, WA 98909

Attn: Karen Smith

Toll Free Telephone: (877) 870-8565

Main Telephone: (206) 870-8565

E-mail: ksmith@advantageproxy.com

You may also contact us at the following address or telephone number:

609 Deep Valley Drive, Suite 200

Rolling Hills, CA 90274

Telephone: (800) 418-5160

In order to receive timely delivery of the documents in advance of the Extraordinary General Meeting, you must make your request for information no later than May 15, 2026.

**OTHER MATTERS**

The Board knows of no other matters which may be brought before the meeting. If any other matters are presented at the meeting on which a vote may properly be taken, the persons named as proxy holders will vote thereon in accordance with their best judgment.

Annex A

**Companies Act (Revised)**

**Company Limited by Shares**

**THIRD** **amended and restated**

**memorandum of association**

**OF**

**OFA Group**

(Adopted by special resolution passed on [21 May] 2026)

![](formdef14a_002.jpg)

**Companies Act (Revised)**

**Company Limited by Shares**

**Third Amended and Restated**

**Memorandum of Association**

**Of**

**OFA Group**

(Adopted by special resolution passed on [21 May] 2026)

1 The name of the Company is OFA Group.

---

| | |
|:---|:---|
| 2 | The Company's registered office will be situated at the office of Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands or at such other place in the Cayman Islands as the directors may at any time decide. |

---

---

| | |
|:---|:---|
| 3 | The Company's objects are unrestricted. As provided by section 7(4) of the Companies Act (Revised), the Company has full power and authority to carry out any object not prohibited by any law of the Cayman Islands. |

---

---

| | |
|:---|:---|
| 4 | The Company has unrestricted corporate capacity. Without limitation to the foregoing, as provided by section 27 (2) of the Companies Act (Revised), the Company has and is capable of exercising all the functions of a natural person of full capacity irrespective of any question of corporate benefit. |

---

5 Nothing in any of the preceding paragraphs permits the Company to carry on any of the following businesses without being duly licensed, namely:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 business of a bank or trust company without being licensed in that behalf under the Banks
 and Trust Companies Act (Revised); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) insurance
 business from within the Cayman Islands or the business of an insurance manager, agent, sub-agent
 or broker without being licensed in that behalf under the Insurance Act (Revised);or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 business of company management without being licensed in that behalf under the Companies
 Management Act (Revised).

---

| | |
|:---|:---|
| 6 | Unless licensed to do so, the Company will not trade in the Cayman Islands with any person, firm or corporation except in furtherance of its business carried on outside the Cayman Islands. Despite this, the Company may effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands any of its powers necessary for the carrying on of its business outside the Cayman Islands. |

---

---

| | |
|:---|:---|
| 7 | The Company is a company limited by shares and accordingly the liability of each member is limited to the amount (if any) unpaid on that member's shares. |

---

---

| | |
|:---|:---|
| 8 | The authorised share capital of the Company is US$320,000 divided into 32,000,000 shares of a par value of US$0.01 each comprising: |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 10,000,000
 Class A Ordinary Shares of a par value of US$0.01 each,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 2,000,000
 Class B Ordinary Shares of a par value of US$0.01 each, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 20,000,000
 undesignated shares of a par value of US$0.01 each, of such class or classes (however designated)
 as the board of directors may determine in accordance with Article 2 of the Articles of Association
 of the Company.

Subject to the Companies Act and the Articles, the board of directors shall have power to redeem or purchase any of the Company's Shares and to increase or reduce its authorized share capital and to sub-divide or consolidate the said Shares or any of them and to issue all or any part of its capital whether original, redeemed, increased or reduced with or without any preference, priority, special privilege or other rights or subject to any postponement of rights or to any conditions or restrictions whatsoever and so that unless the conditions of issue shall otherwise expressly provide every issue of shares whether stated to be ordinary, preference or otherwise shall be subject to the powers on the part of the board of directors hereinbefore provided.

---

| | |
|:---|:---|
| 9 | The Company has power to register by way of continuation as a body corporate limited by shares under the laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. |

---

**Companies Act (Revised)**

**Company Limited By Shares**

**second amended and restated**

**articles of association**

**of**

**OFA Group**

(Adopted by special resolution passed on 24 November 2025)

![](formdef14a_002.jpg)

**Contents**

---

| | |
|:---|:---|
| **1 Definitions, interpretation and exclusion of Table A** | **1** |
| Definitions | 1 |
| Interpretation | 4 |
| Exclusion of Table A Articles | 5 |
| **2 Shares** | **5** |
| Power to issue Shares and options, with or without special rights | 5 |
| Power to issue fractions of a Share | 7 |
| Power to pay commissions and brokerage fees | 8 |
| Trusts not recognised | 8 |
| Security interests | 8 |
| Rights of Shares | 8 |
| Power to vary class rights | 9 |
| Effect of new Share issue on existing class rights | 10 |
| No bearer Shares or warrants | 10 |
| Treasury Shares | 10 |
| Rights attaching to Treasury Shares and related matters | 10 |
| Register of Members | 11 |
| Annual Return | 11 |
| **3 Share certificates** | **11** |
| Issue of share certificates | 11 |
| Renewal of lost or damaged share certificates | 12 |
| **4 Lien on Shares** | **12** |
| Nature and scope of lien | 12 |
| Company may sell Shares to satisfy lien | 13 |
| Authority to execute instrument of transfer | 13 |
| Consequences of sale of Shares to satisfy lien | 13 |
| Application of proceeds of sale | 14 |
| **5 Calls on Shares and forfeiture** | **14** |
| Power to make calls and effect of calls | 14 |
| Time when call made | 14 |
| Liability of joint holders | 14 |
| Interest on unpaid calls | 15 |
| Deemed calls | 15 |
| Power to accept early payment | 15 |
| Power to make different arrangements at time of issue of Shares | 15 |
| Notice of default | 15 |
| Forfeiture or surrender of Shares | 16 |
| Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender | 16 |
| Effect of forfeiture or surrender on former Member | 16 |
| Evidence of forfeiture or surrender | 17 |
| Sale of forfeited or surrendered Shares | 17 |
| **6 Transfer of Shares** | **17** |
| Form of Transfer | 17 |
| Power to refuse registration for Shares not listed on a Designated Stock Exchange | 18 |
| Suspension of transfers | 18 |
| Company may retain instrument of transfer | 18 |
| Notice of refusal to register | 19 |

---

---

| | |
|:---|:---|
| **7 Transmission of Shares** | **19** |
| Persons entitled on death of a Member | 19 |
| Registration of transfer of a Share following death or bankruptcy | 19 |
| Indemnity | 20 |
| Rights of person entitled to a Share following death or bankruptcy | 20 |
| **8 Alteration of capital** | **20** |
| Increasing, consolidating, converting, dividing and cancelling share capital | 20 |
| Dealing with fractions resulting from consolidation of Shares | 21 |
| Reducing share capital | 21 |
| **9 Conversion, redemption and purchase of own Shares** | **21** |
| Power to issue redeemable Shares and to purchase own Shares | 21 |
| Power to pay for redemption or purchase in cash or in specie | 22 |
| Effect of redemption or purchase of a Share | 22 |
| No conversion rights | 22 |
| **10 Meetings of Members** | **22** |
| Annual and extraordinary general meetings | 22 |
| Power to call meetings | 23 |
| Content of notice | 23 |
| Period of notice | 24 |
| Persons entitled to receive notice | 24 |
| Accidental omission to give notice or non-receipt of notice | 25 |
| **11 Proceedings at meetings of Members** | **25** |
| Quorum | 25 |
| Lack of quorum | 25 |
| Chairman | 26 |
| Right of a Director to attend and speak | 26 |
| Accommodation of Members at Virtual Meeting | 26 |
| Security | 26 |
| Adjournment, postponement and cancellation | 27 |
| Method of voting | 27 |
| Taking of a poll | 27 |
| No casting vote | 27 |
| Written resolutions | 27 |
| Sole-Member Company | 29 |
| **12 Voting rights of Members** | **29** |
| Right to vote | 29 |
| Rights of joint holders | 29 |
| Representation of corporate Members | 30 |
| Member with mental disorder | 30 |
| Objections to admissibility of votes | 30 |
| Form of proxy | 31 |
| How and when proxy is to be delivered | 31 |
| Voting by proxy | 33 |
| **13 Number of Directors** | **33** |
| **14 Appointment, disqualification and removal of Directors** | **33** |
| First Directors | 33 |
| No age limit | 33 |
| Corporate Directors | 33 |
| No shareholding qualification | 33 |

---

---

| | |
|:---|:---|
| Appointment of Directors | 33 |
| Board's power to appoint Directors | 34 |
| Removal of Directors | 34 |
| Resignation of Directors | 34 |
| Termination of the office of Director | 34 |
| **15 Alternate Directors** | **35** |
| Appointment and removal | 35 |
| Notices | 36 |
| Rights of alternate Director | 36 |
| Appointment ceases when the appointor ceases to be a Director | 36 |
| Status of alternate Director | 36 |
| Status of the Director making the appointment | 36 |
| **16 Powers of Directors** | **37** |
| Powers of Directors | 37 |
| Directors below the minimum number | 37 |
| Appointments to office | 37 |
| Provisions for employees | 38 |
| Exercise of voting rights | 38 |
| Remuneration | 38 |
| Disclosure of information | 39 |
| **17 Delegation of powers** | **39** |
| Power to delegate any of the Directors' powers to a committee | 39 |
| Local boards | 40 |
| Power to appoint an agent of the Company | 40 |
| Power to appoint an attorney or authorised signatory of the Company | 40 |
| Borrowing Powers | 41 |
| Corporate Governance | 41 |
| **18 Meetings of Directors** | **41** |
| Regulation of Directors' meetings | 41 |
| Calling meetings | 41 |
| Notice of meetings | 41 |
| Use of technology | 42 |
| Quorum | 42 |
| Chairman or deputy to preside | 42 |
| Voting | 42 |
| Recording of dissent | 42 |
| Written resolutions | 43 |
| Validity of acts of Directors in spite of formal defect | 43 |
| **19 Permissible Directors' interests and disclosure** | **43** |
| **20 Minutes** | **44** |
| **21 Accounts and audit** | **44** |
| Financial year | 44 |
| Auditors | 44 |
| **22 Record dates** | **45** |
| **23 Dividends** | **45** |
| Source of dividends | 45 |
| Declaration of dividends by Members | 45 |
| Payment of interim dividends and declaration of final dividends by Directors | 45 |

---

---

| | |
|:---|:---|
| Apportionment of dividends | 46 |
| Right of set off | 46 |
| Power to pay other than in cash | 46 |
| How payments may be made | 46 |
| Dividends or other monies not to bear interest in absence of special rights | 47 |
| Dividends unable to be paid or unclaimed | 47 |
| **24 Capitalisation of profits** | **47** |
| Capitalisation of profits or of any share premium account or capital redemption reserve; | 47 |
| Applying an amount for the benefit of Members | 47 |
| **25 Share Premium Account** | **48** |
| Directors to maintain share premium account | 48 |
| Debits to share premium account | 48 |
| **26 Seal** | **48** |
| Company seal | 48 |
| Duplicate seal | 48 |
| When and how seal is to be used | 48 |
| If no seal is adopted or used | 49 |
| Power to allow non-manual signatures and facsimile printing of seal | 49 |
| Validity of execution | 49 |
| **27 Indemnity** | **49** |
| Release | 50 |
| Insurance | 50 |
| **28 Notices** | **51** |
| Form of notices | 51 |
| Electronic communications | 51 |
| Persons entitled to notices | 52 |
| Persons authorised to give notices | 52 |
| Delivery of written notices | 52 |
| Joint holders | 52 |
| Signatures | 52 |
| Giving notice to a deceased or bankrupt Member | 53 |
| Date of giving notices | 53 |
| Saving provision | 53 |
| **29 Authentication of Electronic Records** | **54** |
| Application of Articles | 54 |
| Authentication of documents sent by Members by Electronic means | 54 |
| Authentication of document sent by the Secretary or Officers of the Company by Electronic means | 54 |
| Manner of signing | 55 |
| Saving provision | 55 |
| **30 Transfer by way of continuation** | **55** |
| **31 Winding up** | **56** |
| Distribution of assets in specie | 56 |
| No obligation to accept liability | 56 |
| **32 Amendment of Memorandum and Articles** | **56** |
| Power to change name or amend Memorandum | 56 |
| Power to amend these Articles | 56 |

---

**Companies Act (Revised)**

**Company Limited by Shares**

**Second Amended and Restated**

**Articles of Association**

**of**

**OFA Group**

(Adopted by special resolution passed on 24 November 2025)

---

| | |
|:---|:---|
| **1** | **Definitions, interpretation and exclusion of Table A** |

---

**Definitions**

1.1 In
 these Articles, the following definitions apply:

**Act** means the Companies Act (Revised) of the Cayman Islands, including any statutory modification or re-enactment thereof for the time being in force;

**Articles** means, as appropriate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) these
 articles of association as amended from time to time: or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) two
 or more particular articles of these Articles;

and **Article** refers to a particular article of these Articles;

**Auditors** means the auditor or auditors for the time being of the Company;

**Board** means the board of Directors from time to time;

**Board Resolution** means (a) a resolution approved at a duly convened and constituted meeting of the Directors by an affirmative vote of a majority of the Directors present at the meeting who voted on the matter, or (b) a written resolution of the Directors passed in accordance with Article 18.14.

**Business Day** means a day when banks in Grand Cayman, the Cayman Islands are open for the transaction of normal banking business and for the avoidance of doubt, shall not include a Saturday, Sunday or public holiday in the Cayman Islands;

**Cayman Islands** means the British Overseas Territory of the Cayman Islands;

**Class** or **Classes** mean any class or classes of Shares as may from time to time be issued by the Company;

**Class A Ordinary Share** means the class A ordinary shares of US$0.01 par value each of the Company, which have the rights set forth in these Articles;

**Class B Ordinary Share** means the class B ordinary shares of US$0.01 par value each of the Company, which have the rights set forth in these Articles;

**Clear Days**, in relation to a period of notice, means that period of calendar days excluding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 calendar day when the notice is given or deemed to be given; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 calendar day for which it is given or on which it is to take effect;

**Commission** means Securities and Exchange Commission of the United States of America or other federal agency for the time being administering the U.S. Securities Act;

**Company** means the above-named company;

**Default Rate** means ten per cent per annum;

**Designated Stock Exchanges** means the NASDAQ Capital Market in the United States of America for so long as any class of the Company's Shares are there listed and any other stock exchange on which any class of the Company's Shares are listed for trading;

**Designated Stock Exchange Rules** means the relevant code, rules and regulations, as amended, from time to time, applicable as a result of the original and continued listing of any Shares on the Designated Stock Exchanges;

**Directors** means the directors for the time being of the Company and the expression Director shall be construed accordingly;

**Electronic** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

**Electronic Communication Facilities** means video, video-conferencing, internet or online conferencing applications, telephone or tele-conferencing and/or any other video-communications, internet or online conferencing application or telecommunications facilities by means of which all persons participating in a meeting are capable of hearing and being heard by each other;

**Electronic Record** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

**Electronic Signature** has the meaning given to that term in the Electronic Transactions Act (Revised) of the Cayman Islands;

 **Fully Paid Up** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 relation to a Share with par value, means that the par value for that Share and any premium
 payable in respect of the issue of that Share, has been fully paid or credited as paid in
 money or money's worth; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 relation to a Share without par value, means that the agreed issue price for that Share has
 been fully paid or credited as paid in money or money's worth;

**General Meeting** means a general meeting of the Company duly constituted in accordance with the Articles;

**Independent Director** means a Director who is an independent director as defined in the Designated Stock Exchange Rules as determined by the Board by Board Resolution;

**Member** means any person or persons entered on the register of Members from time to time as the holder of a Share;

**Memorandum** means the memorandum of association of the Company as amended from time to time;

**month** means a calendar month;

**Officer** means a person appointed to hold an office in the Company including a Director, alternate Director or liquidator and excluding the Secretary;

**Ordinary Resolution** means a resolution of a General Meeting passed by a simple majority of the votes by Members who (being entitled to do so) vote in person or by proxy or, in the case of corporation, by their duly authorised representatives, at that meeting. The expression includes a written resolution signed by the requisite majority in accordance with Article 11.14;

**Partly Paid Up** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 relation to a Share with par value, that the par value for that Share and any premium payable
 in respect of the issue of that Share, has not been fully paid or credited as paid in money
 or money's worth; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 relation to a Share without par value, means that the agreed issue price for that Share has
 not been fully paid or credited as paid in money or money's worth;

**Register of Members** means the register of Members maintained in accordance with the Act and includes (except where otherwise stated) any branch or duplicate register of the Members;

**Secretary** means a person appointed to perform the duties of the secretary of the Company, including a joint, assistant or deputy secretary;

**Share** means a share in the capital of the Company and the expression:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) includes
 stock (except where a distinction between shares and stock is expressed or implied); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the context permits, also includes a fraction of a Share;

all references to "Shares" herein shall be deemed to be Shares of any or all Classes as the context may require.

**Special Resolution** means a resolution of a General Meeting or a resolution of a meeting of the holders of any class of Shares in a class meeting duly constituted in accordance with the Articles in each case passed by a majority of not less than two-thirds of the votes by Members who (being entitled to do so) vote in person or by proxy at that meeting. The expression includes a unanimous written resolution signed by all Members entitled to vote at such meeting;

**Treasury Shares** means Shares held in treasury pursuant to the Act and Article 2.15; and

**U.S. Securities Act** means the Securities Act of 1933 of the United States of America, as amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time; and

**Virtual Meeting** means any general meeting of the Members at which the Members (and any other permitted participants of such meeting, including without limitation the chairman of the meeting and any Directors) are permitted to attend and participate solely by means of Electronic Communication Facilities.

**Interpretation**

1.2 In
 the interpretation of these Articles, the following provisions apply unless the context otherwise
 requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A
 reference in these Articles to a statute is a reference to a statute of the Cayman Islands
 as known by its short title, and includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 statutory modification, amendment or re-enactment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any
 subordinate legislation or regulations issued under that statute.

Without limitation to the preceding sentence, a reference to a revised Act of the Cayman Islands is taken to be a reference to the revision of that Act in force from time to time as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Headings
 are inserted for convenience only and do not affect the interpretation of these Articles,
 unless there is ambiguity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 a day on which any act, matter or thing is to be done under these Articles is not a Business
 Day, the act, matter or thing must be done on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A
 word which denotes the singular also denotes the plural, a word which denotes the plural
 also denotes the singular, and a reference to any gender also denotes the other genders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A
 reference to a **person** includes, as appropriate, a company, trust, partnership, joint
 venture, association, body corporate or government agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Where
 a word or phrase is given a defined meaning another part of speech or grammatical form in
 respect to that word or phrase has a corresponding meaning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) All
 references to time are to be calculated by reference to time in the place where the Company's
 registered office is located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The
 words **written** and **in writing** include all modes of representing or reproducing
 words in a visible form, but do not include an Electronic Record where the distinction between
 a document in writing and an Electronic Record is expressed or implied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 words **including**, **include** and **in particular** or any similar expression
 are to be construed without limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The
 term "**present**" means, in respect of any person attending a meeting, such
 person's presence at a general meeting of Members (or any meeting of the holders of
 any class of Shares), which may be satisfied by means of such person or, if a corporation
 or other non-natural person, its duly authorized representative (or, in the case of any Member,
 a proxy which has been validly appointed by such Member in accordance with these Articles),
 being: (a) physically present at the meeting; or (b) in the case of any meeting at which
 Electronic Communication Facilities are permitted in accordance with these Articles, including
 any Virtual Meeting, connected by means of the use of such Electronic Communication Facilities.

1.3 The
 headings in these Articles are intended for convenience only and shall not affect the interpretation
 of these Articles.

**Exclusion of Table A Articles**

1.4 The
 regulations contained in Table A in the First Schedule of the Act and any other regulations
 contained in any statute or subordinate legislation are expressly excluded and do not apply
 to the Company.

---

| | |
|:---|:---|
| **2** | **Shares** |

---

**Power to issue Shares and options, with or without special rights**

2.1 Subject
 to the provisions of the Act and these Articles about the redemption and purchase of the
 Shares, the Directors have general and unconditional authority to allot (with or without
 confirming rights of renunciation), grant options over or otherwise deal with any unissued
 Shares (including, without limitation, preferred shares) (whether in certificated form or
 non-certificated form) to such persons, at such times and on such terms and conditions as
 they may decide. No Share may be issued at a discount except in accordance with the provisions
 of the Act.

2.2 Without
 limitation to the preceding Article, the Directors may so deal with the unissued Shares (including,
 without limitation, preferred shares) (whether in certificated form or non-certificated form):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) either
 at a premium or at par; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 or without preferred, deferred or other special rights or restrictions, whether in regard
 to dividend, voting, return of capital or otherwise.

2.3 Without
 limitation to the two preceding Articles,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company may issue rights, options, warrants or convertible securities or securities of similar
 nature conferring the right upon the holders thereof to subscribe for, purchase or receive
 any class of Shares or other securities in the Company at such times and on such terms and
 conditions as the Directors may decide;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Directors may refuse to accept any application for Shares, and may accept any application
 in whole or in part, for any reason or for no reason.

2.4 The
 Directors may authorize the division of Shares into any number of Classes and the different
 Classes shall be authorized, established and designated (or re-designated as the case may
 be) and the variations in the relative rights (including, without limitation, voting, dividend
 and redemption rights), restrictions, preferences, privileges and payment obligations as
 between the different Classes (if any) may be fixed and determined by the Directors or by
 a Special Resolution. The Directors may issue Shares with such preferred or other rights,
 all or any of which may be greater than the rights of Ordinary Shares, at such time and on
 such terms as they may think appropriate. The Directors may issue from time to time, out
 of the authorized share capital of the Company (other than the authorized but unissued Ordinary
 Shares), series of preferred shares in their absolute discretion and without approval of
 the Members; provided, however, before any preferred shares of any such series are issued,
 the Directors shall by resolution of Directors determine, with respect to any series of preferred
 shares, the terms and rights of that series, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 designation of such series, the number of preferred shares to constitute such series and
 the subscription price thereof if different from the par value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the preferred shares of such series shall have voting rights, in addition to any voting rights
 provided by law, and, if so, the terms of such voting rights, which may be general or limited;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 dividends, if any, payable on such series, whether any such dividends shall be cumulative,
 and, if so, from what dates, the conditions and dates upon which such dividends shall be
 payable, and the preference or relation which such dividends shall bear to the dividends
 payable on any shares of any other class or any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 the preferred shares of such series shall be subject to redemption by the Company, and, if
 so, the times, prices and other conditions of such redemption;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) whether
 the preferred shares of such series shall have any rights to receive any part of the assets
 available for distribution amongst the Members upon the liquidation of the Company, and,
 if so, the terms of such liquidation preference, and the relation which such liquidation
 preference shall bear to the entitlements of the holders of shares of any other class or
 any other series of shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) whether
 the preferred shares of such series shall be subject to the operation of a retirement or
 sinking fund and, if so, the extent to and manner in which any such retirement or sinking
 fund shall be applied to the purchase or redemption of the preferred shares of such series
 for retirement or other corporate purposes and the terms and provisions relative to the operation
 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) whether
 the preferred shares of such series shall be convertible into, or exchangeable for, shares
 of any other class or any other series of preferred shares or any other securities and, if
 so, the price or prices or the rate or rates of conversion or exchange and the method, if
 any, of adjusting the same, and any other terms and conditions of conversion or exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 limitations and restrictions, if any, to be effective while any preferred shares of such
 series are outstanding upon the payment of dividends or the making of other distributions
 on, and upon the purchase, redemption or other acquisition by the Company of, the existing
 shares or shares of any other class of shares or any other series of preferred shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 conditions or restrictions, if any, upon the creation of indebtedness of the Company or upon
 the issue of any additional shares, including additional shares of such series or of any
 other class of shares or any other series of preferred shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any
 other powers, preferences and relative, participating, optional and other special rights,
 and any qualifications, limitations and restrictions thereof;

and, for such purposes, the Directors may reserve an appropriate number of Shares for the time being unissued. The Company shall not issue Shares to bearer.

**Power to issue fractions of a Share**

2.5 Subject
 to the Act, the Company may issue fractions of a Share of any class. A fraction of a Share
 shall be subject to and carry the corresponding fraction of liabilities (whether with respect
 to calls or otherwise), limitations, preferences, privileges, qualifications, restrictions,
 rights and other attributes of a Share of that class of Shares.

**Power to pay commissions and brokerage fees**

2.6 The
 Company may pay a commission to any person in consideration of that person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) subscribing
 or agreeing to subscribe, whether absolutely or conditionally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) procuring
 or agreeing to procure subscriptions, whether absolute or conditional,

for any Shares. That commission may be satisfied by the payment of cash or the allotment of Fully Paid Up or Partly Paid Up Shares or partly in one way and partly in another.

2.7 The
 Company may employ a broker in the issue of its capital and pay him any proper commission
 or brokerage.

**Trusts not recognised**

2.8 Except
 as required by Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no
 person shall be recognised by the Company as holding any Share on any trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) no
 person other than the Member shall be recognised by the Company as having any right in a
 Share.

**Security interests**

2.9 Notwithstanding
 the preceding Article, the Company may (but shall not be obliged to) recognise a security
 interest of which it has actual notice over shares. The Company shall not be treated as having
 recognised any such security interest unless it has so agreed in writing with the secured
 party.

**Rights of Shares**

2.10 Subject
 to Article 2.1, the Memorandum and any Special Resolution to the contrary and without prejudice
 to any special rights conferred thereby on the holders of any other Shares or class of Shares,
 Class A Ordinary Shares and Class B Ordinary Shares shall carry equal rights and rank pari
 passu with one another in all respects other than as set out below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Voting Rights:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Holders
 of Class A Ordinary Shares and Class B Ordinary Shares have the right to receive notice of,
 attend, speak and vote at general meetings of the Company. Holders of shares of Class A Ordinary
 Shares and Class B Ordinary Shares shall, at all times, vote together as a single class on
 all matters submitted to a vote for Members' consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Each
 Class A Ordinary Share shall be entitled to one (1) vote on all matters subject to the vote
 at general meetings of the Company; whereas, each Class B Ordinary Share shall be entitled
 to twenty five (25) votes on all matters subject to the vote at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Transfer:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Subject
 to the following Articles about the transfer of Shares, and provided that such transfer complies
 with applicable rules of the Designated Stock Exchange (if applicable), Class A Ordinary
 Shares may be transferred in accordance with the Articles and any applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Class
 B Ordinary Shares shall under no circumstances be transferrable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** **Dividends and Distribution:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Dividends
 may be declared or paid, and other distribution (whether in cash or otherwise) of the Company's
 assets (including any distribution of assets to Members on a winding up) may be made to a
 holder of a Class A Ordinary Share in accordance with the Article 23.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No
 dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Members on a winding
 up) may be made to a holder of a Class B Ordinary Share.

**Power to vary class rights**

2.11 If
 the share capital is divided into different classes of Shares then, unless the terms on which
 a class of Shares was issued state otherwise, the rights attaching to a class of Shares may
 only be varied if one of the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Members holding not less than 50% of the issued Shares of that class consent in writing to
 the variation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 variation is made with the sanction of a Special Resolution passed at a separate general
 meeting of the Members holding the issued Shares of that class.

For the purposes of this Article the Directors may treat all the Classes or any two or more Classes as forming one Class if they consider that all such Classes would be affected in the same way by the proposals under consideration, but in any other case shall treat them as separate Classes.

2.12 For
 the purpose of Article 2.10(b), all the provisions of these Articles relating to general
 meetings apply, mutatis mutandis, to every such separate meeting except that the necessary
 quorum shall be one or more persons holding, or representing by proxy, not less than one
 third of the issued Shares of the class.

2.13 For
 the purposes of a separate class meeting, the Directors may treat two or more or all the
 classes of Shares as forming one class of Shares if the Directors consider that such classes
 of Shares would be affected in the same way by the proposals under consideration, but in
 any other case shall treat them as separate classes of Shares.

**Effect of new Share issue on existing class rights**

2.14 Unless
 the terms on which a class of Shares was issued state otherwise, the rights conferred on
 the Member holding Shares of any class shall not be deemed to be varied by the creation or
 issue of further Shares , or the redemption or purchase of any Shares of any Class by the
 Company. The rights of the holders of Shares shall not be deemed to be varied by the creation
 or issue of Shares with preferred or other rights including, without limitation, the creation
 of Shares with enhanced or weighted voting rights.

**No bearer Shares or warrants**

2.15 The
 Company shall not issue Shares or warrants to bearers.

**Treasury Shares**

2.16 Shares
 that the Company purchases, redeems or acquires by way of surrender in accordance with the
 Act shall be held as Treasury Shares and not treated as cancelled if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Directors so determine prior to the purchase, redemption or surrender of those shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 relevant provisions of the Memorandum and Articles and the Act are otherwise complied with.

**Rights attaching to Treasury Shares and related matters**

2.17 No
 dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Members on a winding
 up) may be made to the Company in respect of a Treasury Share.

2.18 The
 Company shall be entered in the register of Members as the holder of the Treasury Shares.
 However:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company shall not be treated as a Member for any purpose and shall not exercise any right
 in respect of the Treasury Shares, and any purported exercise of such a right shall be void;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 Treasury Share shall not be voted, directly or indirectly, at any meeting of the Company
 and shall not be counted in determining the total number of issued shares at any given time,
 whether for the purposes of these Articles or the Act.

2.19 Nothing
 in Article 2.17 prevents an allotment of Shares as Fully Paid Up bonus shares in respect
 of a Treasury Share and Shares allotted as Fully Paid Up bonus shares in respect of a Treasury
 Share shall be treated as Treasury Shares.

2.20 Treasury
 Shares may be disposed of by the Company in accordance with the Act and otherwise on such
 terms and conditions as the Directors determine.

 **Register of Members**

2.21 The
 Directors shall keep or cause to be kept a register of Members as required by the Act and
 may cause the Company to maintain one or more branch registers as contemplated by the Act,
 provided that where the Company is maintaining one or more branch registers, the Directors
 shall ensure that a duplicate of each branch register is kept with the Company's principal
 register of Members and updated within such number of days of any amendment having been made
 to such branch register as may be required by the Act.

2.22 The
 title to Shares listed on a Designated Stock Exchange may be evidenced and transferred in
 accordance with the laws applicable to the rules and regulations of the Designated Stock
 Exchange and, for these purposes, the register of Members may be maintained in accordance
 with section 40B of the Act.

**Annual Return**

2.23 The
 Directors in each calendar year shall prepare or cause to be prepared an annual return and
 declaration setting forth the particulars required by the Act and shall deliver a copy thereof
 to the registrar of companies for the Cayman Islands.

---

| | |
|:---|:---|
| **3** | **Share certificates** |

---

**Issue of share certificates**

3.1 A
 Member shall only be entitled to a share certificate if the Directors resolve that share
 certificates shall be issued. Share certificates representing Shares, if any, shall be in
 such form as the Directors may determine. If the Directors resolve that share certificates
 shall be issued, upon being entered in the register of Members as the holder of a Share,
 the Directors may issue to any Member:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) without
 payment, one certificate for all the Shares of each class held by that Member (and, upon
 transferring a part of the Member's holding of Shares of any class, to a certificate
 for the balance of that holding); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) upon
 payment of such reasonable sum as the Directors may determine for every certificate after
 the first, several certificates each for one or more of that Member's Shares.

3.2 Every
 certificate shall specify the number, class and distinguishing numbers (if any) of the Shares
 to which it relates and whether they are Fully Paid Up or Partly Paid Up. A certificate may
 be executed under seal or executed in such other manner as the Directors determine.

3.3 Every
 certificate shall bear legends required under the applicable laws, including the U.S. Securities
 Act.

3.4 The
 Company shall not be bound to issue more than one certificate for Shares held jointly by
 several persons and delivery of a certificate for a Share to one joint holder shall be a
 sufficient delivery to all of them.

**Renewal of lost or damaged share certificates**

3.5 If
 a share certificate is defaced, worn-out, lost or destroyed, it may be renewed on such terms
 (if any) as to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) evidence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) indemnity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) payment
 of the expenses reasonably incurred by the Company in investigating the evidence; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) payment
 of a reasonable fee, if any for issuing a replacement share certificate,

as the Directors may determine, and (in the case of defacement or wearing-out) on delivery to the Company of the old certificate.

---

| | |
|:---|:---|
| **4** | **Lien on Shares** |

---

 **Nature and scope of lien**

4.1 The
 Company has a first and paramount lien on all Shares (whether Fully Paid Up or not) registered
 in the name of a Member (whether solely or jointly with others). The lien is for all monies
 payable to the Company by the Member or the Member's estate:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) either
 alone or jointly with any other person, whether or not that other person is a Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 or not those monies are presently payable.

4.2 At
 any time the Board may by Board Resolution declare any Share to be wholly or partly exempt
 from the provisions of this Article.

**Company may sell Shares to satisfy lien**

4.3 The
 Company may sell any Shares over which it has a lien if all of the following conditions are
 met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 sum in respect of which the lien exists is presently payable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Company gives notice to the Member holding the Share (or to the person entitled to it in
 consequence of the death or bankruptcy of that Member) demanding payment and stating that
 if the notice is not complied with the Shares may be sold; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that
 sum is not paid within fourteen Clear Days after that notice is deemed to be given under
 these Articles, and Shares to which this Article 4.3 applies shall be referred to as Lien
 Default Shares.

4.4 The
 Lien Default Shares may be sold in such manner as the Board determines by Board Resolution.

4.5 To
 the maximum extent permitted by law, the Directors shall incur no personal liability to the
 Member concerned in respect of the sale.

**Authority to execute instrument of transfer**

4.6 To
 give effect to a sale, the Directors may authorise any person to execute an instrument of
 transfer of the Lien Default Shares sold to, or in accordance with the directions of, the
 purchaser.

4.7 The
 title of the transferee of the Lien Default Shares shall not be affected by any irregularity
 or invalidity in the proceedings in respect of the sale.

**Consequences of sale of Shares to satisfy lien**

4.8 On
 a sale pursuant to the preceding Articles:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 name of the Member concerned shall be removed from the register of Members as the holder
 of those Lien Default Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 person shall deliver to the Company for cancellation the certificate (if any) for those Lien
 Default Shares.

4.9 Notwithstanding
 the provisions of Article 4.8, such person shall remain liable to the Company for all monies
 which, at the date of sale, were presently payable by him to the Company in respect of those
 Lien Default Shares. That person shall also be liable to pay interest on those monies from
 the date of sale until payment at the rate at which interest was payable before that sale
 or, failing that, at the Default Rate. The Board may by Board Resolution waive payment wholly
 or in part or enforce payment without any allowance for the value of the Lien Default Shares
 at the time of sale or for any consideration received on their disposal.

**Application of proceeds of sale**

4.10 The
 net proceeds of the sale, after payment of the costs, shall be applied in payment of so much
 of the sum for which the lien exists as is presently payable. Any residue shall be paid to
 the person whose Lien Default Shares have been sold:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 no certificate for the Lien Default Shares was issued, at the date of the sale; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 a certificate for the Lien Default Shares was issued, upon surrender to the Company of that
 certificate for cancellation

but, in either case, subject to the Company retaining a like lien for all sums not presently payable as existed on the Lien Default Shares before the sale.

---

| | |
|:---|:---|
| **5** | **Calls on Shares and forfeiture** |

---

**Power to make calls and effect of calls**

5.1 Subject
 to the terms of allotment, the Board may by Board Resolution make calls on the Members in
 respect of any monies unpaid on their Shares including any premium. The call may provide
 for payment to be by instalments. Subject to receiving at least 14 Clear Days' notice
 specifying when and where payment is to be made, each Member shall pay to the Company the
 amount called on his Shares as required by the notice.

5.2 Before
 receipt by the Company of any sum due under a call, that call may be revoked in whole or
 in part and payment of a call may be postponed in whole or in part. Where a call is to be
 paid in instalments, the Company may revoke the call in respect of all or any remaining instalments
 in whole or in part and may postpone payment of all or any of the remaining instalments in
 whole or in part.

5.3 A
 Member on whom a call is made shall remain liable for that call notwithstanding the subsequent
 transfer of the Shares in respect of which the call was made. He shall not be liable for
 calls made after he is no longer registered as Member in respect of those Shares.

**Time when call made**

5.4 A
 call shall be deemed to have been made at the time when the resolution of the Directors authorising
 the call was passed.

**Liability of joint holders**

5.5 Members
 registered as the joint holders of a Share shall be jointly and severally liable to pay all
 calls in respect of the Share.

**Interest on unpaid calls**

5.6 If
 a call remains unpaid after it has become due and payable the person from whom it is due
 and payable shall pay interest on the amount unpaid from the day it became due and payable
 until it is paid:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at
 the rate fixed by the terms of allotment of the Share or in the notice of the call; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 no rate is fixed, at the Default Rate.

The Directors may waive payment of the interest wholly or in part.

**Deemed calls**

5.7 Any
 amount payable in respect of a Share, whether on allotment or on a fixed date or otherwise,
 shall be deemed to be payable as a call. If the amount is not paid when due the provisions
 of these Articles shall apply as if the amount had become due and payable by virtue of a
 call.

**Power to accept early payment**

5.8 The
 Company may accept from a Member the whole or a part of the amount remaining unpaid on Shares
 held by him although no part of that amount has been called up.

**Power to make different arrangements at time of issue of Shares**

5.9 Subject
 to the terms of allotment, the Directors may make arrangements on the issue of Shares to
 distinguish between Members in the amounts and times of payment of calls on their Shares.

**Notice of default**

5.10 If
 a call remains unpaid after it has become due and payable the Directors may give to the person
 from whom it is due not less than 14 Clear Days' notice requiring payment of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 amount unpaid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 interest which may have accrued;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 expenses which have been incurred by the Company due to that person's default.

5.11 The
 notice shall state the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 place where payment is to be made; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 warning that if the notice is not complied with the Shares in respect of which the call is
 made will be liable to be forfeited.

**Forfeiture or surrender of Shares**

5.12 If
 the notice given pursuant to Article 5.10 is not complied with, the Directors may, before
 the payment required by the notice has been received, resolve that any Share the subject
 of that notice be forfeited. The forfeiture shall include all dividends or other monies payable
 in respect of the forfeited Share and not paid before the forfeiture. Despite the foregoing,
 the Board may by Board Resolution determine that any Share the subject of that notice be
 accepted by the Company as surrendered by the Member holding that Share in lieu of forfeiture.

**Disposal of forfeited or surrendered Share and power to cancel forfeiture or surrender**

5.13 A
 forfeited or surrendered Share may be sold, re-allotted or otherwise disposed of on such
 terms and in such manner as the Board by Board Resolution determine either to the former
 Member who held that Share or to any other person. The forfeiture or surrender may be cancelled
 on such terms as the Directors think fit at any time before a sale, re-allotment or other
 disposition. Where, for the purposes of its disposal, a forfeited or surrendered Share is
 to be transferred to any person, the Directors may by Board Resolution authorise some person
 to execute an instrument of transfer of the Share to the transferee.

**Effect of forfeiture or surrender on former Member**

5.14 On
 forfeiture or surrender:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 name of the Member concerned shall be removed from the register of Members as the holder
 of those Shares and that person shall cease to be a Member in respect of those Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 person shall surrender to the Company for cancellation the certificate (if any) for the forfeited
 or surrendered Shares.

5.15 Despite
 the forfeiture or surrender of his Shares, that person shall remain liable to the Company
 for all monies which at the date of forfeiture or surrender were presently payable by him
 to the Company in respect of those Shares together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 expenses; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) interest
 from the date of forfeiture or surrender until payment:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) at
 the rate of which interest was payable on those monies before forfeiture; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if
 no interest was so payable, at the Default Rate.

The Directors, however, may waive payment wholly or in part.

**Evidence of forfeiture or surrender**

5.16 A
 declaration, whether statutory or under oath, made by a Director or the Secretary shall be
 conclusive evidence of the following matters stated in it as against all persons claiming
 to be entitled to forfeited Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 the person making the declaration is a Director or Secretary of the Company, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 the particular Shares have been forfeited or surrendered on a particular date.

Subject to the execution of an instrument of transfer, if necessary, the declaration shall constitute good title to the Shares.

**Sale of forfeited or surrendered Shares**

5.17 Any
 person to whom the forfeited or surrendered Shares are disposed of shall not be bound to
 see to the application of the consideration, if any, of those Shares nor shall his title
 to the Shares be affected by any irregularity in, or invalidity of the proceedings in respect
 of, the forfeiture, surrender or disposal of those Shares.

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| | |
|:---|:---|
| **6** | **Transfer of Shares** |

---

**Form of Transfer**

6.1 Subject
 to the following Articles about the transfer of Shares, and provided that such transfer complies
 with applicable rules of the Designated Stock Exchange, a Member may freely transfer Shares
 (except Class B Ordinary Shares which shall not be transferrable) to another person by completing
 an instrument of transfer in a common form or in a form prescribed by the Designated Stock
 Exchange (if such Shares are listed on the Designated Stock Exchange) or in any other form
 approved by the Directors, executed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where
 the Shares (except Class B Ordinary Shares which shall not be transferrable) are Fully Paid,
 by or on behalf of that Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the Shares (except Class B Ordinary Shares which shall not be transferrable) are partly paid,
 by or on behalf of that Member and the transferee.

6.2 The
 transferor shall be deemed to remain the holder of a Share (except Class B Ordinary Shares
 which shall not be transferrable) until the name of the transferee is entered into the Register
 of Members.

**Power to refuse registration for Shares not listed on a Designated Stock Exchange**

6.3 Where
 any class of the Shares in question are not listed on or subject to the rules of any Designated
 Stock Exchange, registration of any transfer of shares must be approved by the Directors
 by Board Resolution, and the Directors may in their absolute discretion decline to register
 any transfer of such Shares which are not Fully Paid Up or on which the Company has a lien.
 The Directors may also, but are not required to, decline to register any transfer of any
 such Share unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 instrument of transfer is lodged with the Company, accompanied by the certificate (if any)
 for the Shares to which it relates and such other evidence as the Board may reasonably require
 to show the right of the transferor to make the transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 instrument of transfer is in respect of only one class of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 instrument of transfer is properly stamped, if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) in
 the case of a transfer to joint holders, the number of joint holders to whom the Share is
 to be transferred does not exceed four;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 Shares transferred are Fully Paid Up and free of any lien in favour of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any
 applicable fee of such maximum sum as the Designated Stock Exchanges may determine to be
 payable, or such lesser sum as the Board may from time to time require, related to the transfer
 is paid to the Company.

**Suspension of transfers**

6.4 The
 registration of transfers may, on 14 days' notice being given by advertisement in such
 one or more newspapers or by electronic means, be suspended and the register of Members closed
 at such times and for such periods as the Directors may, in their absolute discretion, from
 time to time determine, provided always that such registration of transfer shall not be suspended
 nor the register of Members closed for more than 30 days in any year.

**Company may retain instrument of transfer**

6.5 All
 instruments of transfer that are registered shall be retained by the Company.

**Notice of refusal to register**

6.6 If
 the Directors refuse to register a transfer of any Shares of any class not listed on a Designated
 Stock Exchange, they shall within one month after the date on which the instrument of transfer
 was lodged with the Company send to each of the transferor and the transferee notice of the
 refusal.

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| | |
|:---|:---|
| **7** | **Transmission of Shares** |

---

**Persons entitled on death of a Member**

7.1 If
 a Member dies, the only persons recognised by the Company as having any title to the deceased
 Members' interest are the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) where
 the deceased Member was a joint holder, the survivor or survivors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) where
 the deceased Member was a sole holder, that Member's personal representative or representatives.

7.2 Nothing
 in these Articles shall release the deceased Member's estate from any liability in
 respect of any Share, whether the deceased was a sole holder or a joint holder.

**Registration of transfer of a Share following death or bankruptcy**

7.3 A
 person becoming entitled to a Share in consequence of the death or bankruptcy of a Member
 may elect to do either of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 become the holder of the Share; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 transfer the Share to another person.

7.4 That
 person must produce such evidence of his entitlement as the Directors may properly require.

7.5 If
 the person elects to become the holder of the Share, he must give notice to the Company to
 that effect. For the purposes of these Articles, that notice shall be treated as though it
 were an executed instrument of transfer.

7.6 If
 the person elects to transfer the Share to another person then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Share is Fully Paid Up, the transferor must execute an instrument of transfer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Share is nil or Partly Paid Up, the transferor and the transferee must execute an instrument
 of transfer.

7.7 All
 the Articles relating to the transfer of Shares shall apply to the notice or, as appropriate,
 the instrument of transfer.

**Indemnity**

7.8 A
 person registered as a Member by reason of the death or bankruptcy of another Member shall
 indemnify the Company and the Directors against any loss or damage suffered by the Company
 or the Directors as a result of that registration.

**Rights of person entitled to a Share following death or bankruptcy**

7.9 A
 person becoming entitled to a Share by reason of the death or bankruptcy of a Member shall
 have the rights to which he would be entitled if he were registered as the holder of the
 Share. But, until he is registered as Member in respect of the Share, he shall not be entitled
 to attend or vote at any meeting of the Company or at any separate meeting of the holders
 of that class of Shares.

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| | |
|:---|:---|
| **8** | **Alteration of capital** |

---

**Increasing, consolidating, converting, dividing and cancelling share capital**

8.1 To
 the fullest extent permitted by the Act, the Company may by Ordinary Resolution do any of
 the following and amend its Memorandum for that purpose:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) increase
 its share capital by new Shares of the amount fixed by that Ordinary Resolution and with
 the attached rights, priorities and privileges set out in that Ordinary Resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consolidate
 and divide all or any of its share capital into Shares of larger amount than its existing
 Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) convert
 all or any of its Paid Up Shares into stock, and reconvert that stock into Paid Up Shares
 of any denomination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) sub-divide
 its Shares or any of them into Shares of an amount smaller than that fixed by the Memorandum,
 so, however, that in the sub-division, the proportion between the amount paid and the amount,
 if any, unpaid on each reduced Share shall be the same as it was in case of the Share from
 which the reduced Share is derived; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel
 Shares which, at the date of the passing of that Ordinary Resolution, have not been taken
 or agreed to be taken by any person, and diminish the amount of its share capital by the
 amount of the Shares so cancelled or, in the case of Shares without nominal par value, diminish
 the number of Shares into which its capital is divided.

**Dealing with fractions resulting from consolidation of Shares**

8.2 Whenever,
 as a result of a consolidation of Shares, any Members would become entitled to fractions
 of a Share the Directors may on behalf of those Members deal with the fractions as it thinks
 fit, including (without limitation):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) either
 round up or down the fraction to the nearest whole number, such rounding to be determined
 by the Directors acting in their sole discretion; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) sell
 the Shares representing the fractions for the best price reasonably obtainable to any person
 (including, subject to the provisions of the Act, the Company); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) distribute
 the net proceeds in due proportion among those Members.

8.3 For
 the purposes of Article 8.2, the Directors may authorise some person to execute an instrument
 of transfer of the Shares to, in accordance with the directions of, the purchaser. The transferee
 shall not be bound to see to the application of the purchase money nor shall the transferee's
 title to the Shares be affected by any irregularity in, or invalidity of, the proceedings
 in respect of the sale.

**Reducing share capital**

8.4 Subject
 to the Act and to any rights for the time being conferred on the Members holding a particular
 class of Shares, the Company may, by Special Resolution, reduce its share capital in any
 way.

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| | |
|:---|:---|
| **9** | **Conversion, redemption and purchase of own Shares** |

---

**Power to issue redeemable Shares and to purchase own Shares**

9.1 Subject
 to the Act and to any rights for the time being conferred on the Members holding a particular
 class of Shares, the Company may by its Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 Shares that are to be redeemed or liable to be redeemed, at the option of the Company or
 the Member holding those redeemable Shares, on the terms and in the manner its Directors
 determine before the issue of those Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 the consent by Special Resolution of the Members holding Shares of a particular class, vary
 the rights attaching to that class of Shares so as to provide that those Shares are to be
 redeemed or are liable to be redeemed at the option of the Company on the terms and in the
 manner which the Directors determine at the time of such variation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) purchase
 all or any of its own Shares of any class including any redeemable Shares on the terms and
 in the manner which the Directors determine at the time of such purchase.

The Company may make a payment in respect of the redemption or purchase of its own Shares in any manner authorised by the Act, including out of any combination of the following: capital, its profits and the proceeds of a fresh issue of Shares.

**Power to pay for redemption or purchase in cash or in specie**

9.2 When
 making a payment in respect of the redemption or purchase of Shares, the Directors may make
 the payment in cash or *in specie* (or partly in one and partly in the other) if so
 authorised by the terms of the allotment of those Shares or by the terms applying to those
 Shares in accordance with Article 9.1, or otherwise by agreement with the Member holding
 those Shares.

**Effect of redemption or purchase of a Share**

9.3 Upon
 the date of redemption or purchase of a Share:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Member holding that Share shall cease to be entitled to any rights in respect of the Share
 other than the right to receive:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 price for the Share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any
 dividend declared in respect of the Share prior to the date of redemption or purchase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Member's name shall be removed from the register of Members with respect to the Share;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Share shall be cancelled or held as a Treasury Share, as the Directors may determine.

9.4 For
 the purpose of Article 9.3, the date of redemption or purchase is the date when the Member's
 name is removed from the register of Members with respect to the Shares the subject of the
 redemption or purchase.

**No conversion rights**

9.5 Class
 A Ordinary Shares shall not be convertible into Class B Ordinary Shares.

9.6 Class
 B Ordinary Shares shall not be convertible into Class A Ordinary Shares.

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| | |
|:---|:---|
| **10** | **Meetings of Members** |

---

**Annual and extraordinary general meetings**

10.1 The
 Company may, but shall not (unless required by the applicable Designated Stock Exchange Rules)
 be obligated to, in each year hold a general meeting as an annual general meeting, which,
 if held, shall be convened by the chairman of the Board, or the Directors by Board Resolution,
 in accordance with these Articles.

10.2 All
 general meetings other than annual general meetings shall be called extraordinary general
 meetings.

**Power to call meetings**

10.3 The
 chairman of the Board, or the Directors may by Board Resolution, call a general meeting at
 any time.

10.4 If
 there are insufficient Directors to constitute a quorum and the remaining Directors are unable
 to agree on the appointment of additional Directors, the Directors must call a general meeting
 for the purpose of appointing additional Directors.

10.5 The
 Directors must also call a general meeting if requisitioned in the manner set out in the
 next two Articles.

10.6 Any
 one or more Members holding not less than one-third of all votes attaching to the total issued
 and paid up share capital of the Company at the date of deposit of the requisition shall
 at all times have the right, by written requisition to the Board or the Secretary, to require
 an extraordinary general meeting to be called by the Board for the transaction of any business
 specified in such requisition; and such meeting shall be held within two (2) months after
 the deposit of such requisition. If within twenty one (21) days of such deposit the Board
 fails to proceed to convene such meeting the requisitionist(s) himself (themselves) may do
 so in the same manner, and all reasonable expenses incurred by the requisitionist(s) as a
 result of the failure of the Board shall be reimbursed to the requisitionist(s) by the Company.

10.7 The
 requisition must also:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specify
 the purpose of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) be
 signed by or on behalf of each requisitioner (and for this purpose each joint holder shall
 be obliged to sign). The requisition may consist of several documents in like form signed
 by one or more of the requisitioners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) be
 delivered in accordance with the notice provisions.

10.8 Without
 limitation to the foregoing, if there are insufficient Directors to constitute a quorum and
 the remaining Directors are unable to agree on the appointment of additional Directors, any
 one or more Members who together hold at least five per cent of the rights to vote at a general
 meeting may call a general meeting for the purpose of considering the business specified
 in the notice of meeting which shall include as an item of business the appointment of additional
 Directors.

10.9 If
 the Members call a meeting under the above provisions, the Company shall reimburse their
 reasonable expenses.

**Content of notice**

10.10 Notice
 of a general meeting shall specify each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 place, the date and the hour of the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whether
 the meeting will be held virtually, at a physical place or both;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 the meeting is to be held in any part at a physical place, the address of such place;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if
 the meeting is to be held in two or more places, or in any part virtually, the Electronic
 Communication Facilities that will be used to facilitate the meeting, including the procedures
 to be followed by any Member or other participant of the meeting who wishes to utilise such
 Electronic Communication Facilities for the purposes of attending and participating in such
 meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) subject
 to paragraph (f) and the requirements of (to the extent applicable) the Designated Stock
 Exchange Rules, the general nature of the business to be transacted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if
 a resolution is proposed as a Special Resolution, the text of that resolution.

10.11 In
 each notice there shall appear with reasonable prominence the following statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 a Member who is entitled to attend and vote is entitled to appoint one or more proxies to
 attend and vote instead of that Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 a proxyholder need not be a Member.

**Period of notice**

10.12 At
 least seven Clear Days' notice of an annual general meeting must be given to Members.
 For any other general meeting, at least five Clear Days' notice must be given to Members.

10.13 Subject
 to the Act, a meeting may be convened on shorter notice, subject to the Act with the consent
 of the Member or Members who, individually or collectively, hold at least ninety per cent
 of the voting rights of all those who have a right to vote at that meeting.

**Persons entitled to receive notice**

10.14 Subject
 to the provisions of these Articles and to any restrictions imposed on any Shares, the notice
 shall be given to the following people:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Members

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) persons
 entitled to a Share in consequence of the death or bankruptcy of a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Auditors (if appointed).

10.15 The
 Board may by Board Resolution determine that the Members entitled to receive notice of, attend
 and vote at a meeting are those persons entered on the register of Members at the close of
 business on a day determined by the Board.

**Accidental omission to give notice or non-receipt of notice**

10.16 Proceedings
 at a meeting shall not be invalidated by the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an
 accidental failure to give notice of the meeting to any person entitled to notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) non-receipt
 of notice of the meeting by any person entitled to notice.

10.17 In
 addition, where a notice of meeting is published on a website proceedings at the meeting
 shall not be invalidated merely because it is accidentally published:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 a different place on the website; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 part only of the period from the date of the notification until the conclusion of the meeting
 to which the notice relates.

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| | |
|:---|:---|
| **11** | **Proceedings at meetings of Members** |

---

**Quorum**

11.1 Save
 as provided in the following Article, no business shall be transacted at any meeting unless
 a quorum is present in person or by proxy at the meeting. A quorum is as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Company has only one Member: that Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Company has more than one Member: one or more Members holding Shares that represent not
 less than one-third of the outstanding Shares carrying the right to vote at such general
 meeting.

**Lack of quorum**

11.2 If
 a quorum is not present at the meeting within fifteen minutes of the time appointed for the
 meeting, or if at any time during the meeting it becomes inquorate, then the following provisions
 apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If
 the meeting was requisitioned by Members, it shall be cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In
 any other case, the meeting shall stand adjourned to the same time and place seven days hence,
 or to such other time or place as is determined by the Directors. If a quorum is not present
 at the meeting within fifteen minutes of the time appointed for the adjourned meeting, then
 the Members present in person or by proxy at the meeting shall constitute a quorum.

**Chairman**

11.3 The
 chairman of a general meeting (including a Virtual Meeting) shall be the chairman of the
 Board appointed by Board Resolution, or such other Director as the Directors have nominated
 to chair Board meetings in the absence of the chairman of the Board. Absent any such person
 being present at the meeting within fifteen minutes of the time appointed for the meeting,
 the Directors present shall elect one of their number to chair the meeting. The chairman
 of the meeting shall be entitled to attend and participate at any such general meeting by
 means of Electronic Communication Facilities, and to act as the chairman of such general
 meeting, in which event the chairman of the meeting shall be deemed to be present at the
 meeting.

11.4 If
 no Director is present within fifteen minutes of the time appointed for the meeting, or if
 no Director is willing to act as chairman, the Members present in person or by proxy and
 entitled to vote shall choose one of their number to chair the meeting.

**Right of a Director to attend and speak**

11.5 Even
 if a Director is not a Member, he shall be entitled to attend and speak at any general meeting
 and at any separate meeting of Members holding a particular class of Shares.

**Accommodation of Members at Virtual Meeting**

11.6 A
 Member entitled to receive notice and attend a meeting will be deemed to be in attendance
 at such meeting despite their attendance being virtual if adequate facilities are available
 to ensure that the Member is able to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 participate in the business for which the meeting has been convened; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 hear all that happens at the meeting.

Without limiting the generality of the foregoing, the Directors may determine that any general meeting may be held as a Virtual Meeting.

**Security**

11.7 In
 addition to any measures which the Board may be required to take due to the location or venue
 of the meeting, the Board may make any arrangement and impose any restriction it considers
 appropriate and reasonable in the circumstances to ensure the security of a meeting including,
 without limitation, the searching of any person attending the meeting and the imposing of
 restrictions on the items of personal property that may be taken into the meeting place.
 The Board may refuse entry to, or eject from, a meeting a person who refuses to comply with
 any such arrangements or restrictions.

**Adjournment, postponement and cancellation**

11.8 A
 meeting may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) postponed
 or cancelled prior to the meeting at the discretion of the Directors by written notice provided
 to all persons entitled to attend the meeting, unless the meeting was requisitioned by Members
 or otherwise called by Members pursuant to Article 10; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) adjourned,
 with or without an appointed date for resumption, at any time during the meeting at the discretion
 of the chairman with the consent of the Members constituting a quorum.

The chairman must adjourn the meeting if so directed by the meeting. No business, however, can be transacted at an adjourned meeting other than business which might properly have been transacted at the original meeting.

11.9 Should
 a meeting be adjourned for more than 7 Clear Days, whether because of a lack of quorum or
 otherwise, Members shall be given at least 7 Clear Days' notice of the date, time and
 place of the adjourned meeting and the general nature of the business to be transacted. Otherwise
 it shall not be necessary to give any notice of the adjournment.

**Method of voting**

11.10 A
 resolution put to the vote of the meeting shall be decided on a poll.

**Taking of a poll**

11.11 A
 poll shall be taken in such manner as the chairman directs. He may appoint scrutineers (who
 need not be Members) and fix a place and time for declaring the result of the poll. If, through
 the aid of technology, the meeting is held as a Virtual Meeting or in more than one place,
 the chairman may appoint scrutineers virtually and in more than one place; but if he considers
 that the poll cannot be effectively monitored at that meeting, the chairman shall adjourn
 the holding of the poll to a date, place and time when that can occur.

**No casting vote**

11.12 In
 the case of an equality of votes, the chairman of the meeting shall not be entitled to a
 second or casting vote.

**Written resolutions**

11.13 Without
 limitation to section 60(1) of the Act, Members may pass a Special Resolution in writing
 without holding a meeting if the following conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Members entitled to vote on the resolution are given notice of the resolution as if the same
 were being proposed at a meeting of Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 Members entitled so to vote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) sign
 a document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) sign
 several documents in the like form each signed by one or more of those Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 signed document or documents is or are delivered to the Company, including, if the Company
 so nominates, by delivery of an Electronic Record by Electronic means to the address specified
 for that purpose.

Such written resolution, which shall be as effective as if it had been passed at a meeting of the Members entitled to vote duly convened and held, is passed when all such Members have so signified their agreement to the resolution.

11.14 Members
 may pass an Ordinary Resolution in writing without holding a meeting if the following conditions
 are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Members entitled to vote on the resolution are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) given
 notice of the resolution as if the same were being proposed at a meeting of Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) notified
 in the same or an accompanying notice of the date by which the resolution must be passed
 if it is not to lapse, being a period of 7 days beginning with the date that the notice is
 first given;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 required majority of the Members entitled so to vote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) sign
 a document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) sign
 several documents in the like form each signed by one or more of those Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 signed document or documents is or are delivered to the Company, including, if the Company
 so nominates, by delivery of an Electronic Record by Electronic means to the address specified
 for that purpose.

Such written resolution, which shall be as effective as if it had been passed at a meeting of the Members entitled to vote duly convened and held, is passed upon the later of these dates: (i) subject to the following Article, the date next immediately following the end of the period of 5 days beginning with the date that notice of the resolution is first given and (ii) the date when the required majority have so signified their agreement to the resolution. However, the proposed written resolution lapses if it is not passed before the end of the period of 7 days beginning with the date that notice of it is first given.

11.15 If
 all Members entitled to be given notice of the Ordinary Resolution consent, a written resolution
 may be passed as soon as the required majority have signified their agreement to the resolution,
 without any minimum period of time having first elapsed. Save that the consent of the majority
 may be incorporated in the written resolution, each consent shall be in writing or given
 by Electronic Record and shall otherwise be given to the Company in accordance with Article
 28 (*Notices*) prior to the written resolution taking effect.

11.16 The
 Directors may determine the manner in which written resolutions shall be put to Members.
 In particular, they may provide, in the form of any written resolution, for each Member to
 indicate, out of the number of votes the Member would have been entitled to cast at a meeting
 to consider the resolution, how many votes he wishes to cast in favour of the resolution
 and how many against the resolution or to be treated as abstentions. The result of any such
 written resolution shall be determined on the same basis as on a poll.

11.17 If
 a written resolution is described as a Special Resolution or as an Ordinary Resolution, it
 has effect accordingly.

**Sole-Member Company**

11.18 If
 the Company has only one Member, and the Member records in writing his decision on a question,
 that record shall constitute both the passing of a resolution and the minute of it.

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| | |
|:---|:---|
| **12** | **Voting rights of Members** |

---

**Right to vote**

12.1 Subject
 to the following, unless their Shares carry no right to vote, or unless a call or other amount
 presently payable has not been paid, all Members are entitled to vote at a general meeting,
 and all Members holding Shares of a particular class of Shares are entitled to vote at a
 meeting of the holders of that class of Shares.

12.2 Members
 may vote in person or by proxy.

12.3 On
 a poll, each Class A Ordinary Share shall be entitled to one (1) vote on all matters subject
 to vote at general meetings of the Company, and each Class B Ordinary Share shall be entitled
 to twenty five (25) votes on all matters subject to vote at general meetings of the Company.
 A fraction of a Class A Ordinary Share shall entitle its holder to an equivalent fraction
 of one (1) vote, and a fraction of a Class B Ordinary Share shall entitle its holder to an
 equivalent fraction of twenty five (25) votes.

12.4 No
 Member is bound to vote on his Shares or any of them; nor is he bound to vote each of his
 Shares in the same way.

**Rights of joint holders**

12.5 If
 Shares are held jointly, only one of the joint holders may vote. If more than one of the
 joint holders tenders a vote, the vote of the holder whose name in respect of those Shares
 appears first in the register of Members shall be accepted to the exclusion of the votes
 of the other joint holder.

**Representation of corporate Members**

12.6 Save
 where otherwise provided, a corporate Member must act by a duly authorised representative.

12.7 A
 corporate Member wishing to act by a duly authorised representative must identify that person
 to the Company by notice in writing.

12.8 The
 authorisation may be for any period of time, and must be delivered to the Company before
 the commencement of the meeting at which it is first used.

12.9 The
 Directors of the Company may require the production of any evidence which they consider necessary
 to determine the validity of the notice.

12.10 Where
 a duly authorised representative is present at a meeting that Member is deemed to be present
 in person; and the acts of the duly authorised representative are personal acts of that Member.

12.11 A
 corporate Member may revoke the appointment of a duly authorised representative at any time
 by notice to the Company; but such revocation will not affect the validity of any acts carried
 out by the duly authorised representative before the Directors of the Company had actual
 notice of the revocation.

**Member with mental disorder**

12.12 A
 Member in respect of whom an order has been made by any court having jurisdiction (whether
 in the Cayman Islands or elsewhere) in matters concerning mental disorder may vote on a poll,
 by that Member's receiver, *curator bonis* or other person authorised in that
 behalf appointed by that court.

12.13 For
 the purpose of the preceding Article, evidence to the satisfaction of the Directors of the
 authority of the person claiming to exercise the right to vote must be received not less
 than 24 hours before holding the relevant meeting or the adjourned meeting in any manner
 specified for the delivery of forms of appointment of a proxy, whether in writing or by Electronic
 means. In default, the right to vote shall not be exercisable.

**Objections to admissibility of votes**

12.14 An
 objection to the validity of a person's vote may only be raised at the meeting or at
 the adjourned meeting at which the vote is sought to be tendered. Any objection duly made
 shall be referred to the chairman whose decision shall be final and conclusive.

**Form of proxy**

12.15 An
 instrument appointing a proxy shall be in any common form or in any other form approved by
 the Directors.

12.16 The
 instrument must be in writing and signed in one of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 the Member; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 the Member's authorised attorney; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 the Member is a corporation or other body corporate, under seal or signed by an authorised
 officer, secretary or attorney.

If the Directors so resolve, the Company may accept an Electronic Record of that instrument delivered in the manner specified below and otherwise satisfying the Articles about authentication of Electronic Records.

12.17 The
 Directors may require the production of any evidence which they consider necessary to determine
 the validity of any appointment of a proxy.

12.18 A
 Member may revoke the appointment of a proxy at any time by notice to the Company duly signed
 in accordance with Article 12.16.

12.19 No
 revocation by a Member of the appointment of a proxy made in accordance with Article 12.18
 will affect the validity of any acts carried out by the relevant proxy before the Directors
 of the Company had actual notice of the revocation.

**How and when proxy is to be delivered**

12.20 Subject
 to the following Articles, the Directors may, in the notice convening any meeting or adjourned
 meeting, or in an instrument of proxy sent out by the Company, specify the manner by which
 the instrument appointing a proxy shall be deposited and the place and the time (being not
 later than the time appointed for the commencement of the meeting or adjourned meeting to
 which the proxy relates) at which the instrument appointing a proxy shall be deposited. In
 the absence of any such direction from the Directors in the notice convening any meeting
 or adjourned meeting or in an instrument of proxy sent out by the Company, the form of appointment
 of a proxy and any authority under which it is signed (or a copy of the authority certified
 notarially or in any other way approved by the Directors) must be delivered so that it is
 received by the Company before the time for holding the meeting or adjourned meeting at which
 the person named in the form of appointment of proxy proposes to vote. They must be delivered
 in either of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In
 the case of an instrument in writing, it must be left at or sent by post:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to
 the registered office of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to
 such other place within the Cayman Islands specified in the notice convening the meeting
 or in any form of appointment of proxy sent out by the Company in relation to the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If,
 pursuant to the notice provisions, a notice may be given to the Company in an Electronic
 Record, an Electronic Record of an appointment of a proxy must be sent to the address specified
 pursuant to those provisions unless another address for that purpose is specified:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in
 the notice convening the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in
 any form of appointment of a proxy sent out by the Company in relation to the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in
 any invitation to appoint a proxy issued by the Company in relation to the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding
 Article 12.20(a) and Article 12.20(b), the chairman of the Company may, in any event at his
 discretion, direct that an instrument of proxy shall be deemed to have been duly deposited.

12.21 If
 the form of appointment of proxy is not delivered on time, it is invalid.

12.22 When
 two or more valid but differing appointments of proxy are delivered or received in respect
 of the same Share for use at the same meeting and in respect of the same matter, the one
 which is last validly delivered or received (regardless of its date or of the date of its
 execution) shall be treated as replacing and revoking the other or others as regards that
 Share. lf the Company is unable to determine which appointment was last validly delivered
 or received, none of them shall be treated as valid in respect of that Share.

12.23 The
 Board may at the expense of the Company send forms of appointment of proxy to the Members
 by post (that is to say, pre-paying and posting a letter), or by Electronic communication
 or otherwise (with or without provision for their return by pre-paid post) for use at any
 general meeting or at any separate meeting of the holders of any class of Shares, either
 blank or nominating as proxy in the alternative any one or more of the Directors or any other
 person. lf for the purpose of any meeting invitations to appoint as proxy a person or one
 of a number of persons specified in the invitations are issued at the Company's expense,
 they shall be issued to all (and not to some only) of the Members entitled to be sent notice
 of the meeting and to vote at it. The accidental omission to send such a form of appointment
 or to give such an invitation to, or the non-receipt of such form of appointment by, any
 Member entitled to attend and vote at a meeting shall not invalidate the proceedings at that
 meeting

**Voting by proxy**

12.24 A
 proxy shall have the same voting rights at a meeting or adjourned meeting as the Member would
 have had except to the extent that the instrument appointing him limits those rights. Notwithstanding
 the appointment of a proxy, a Member may attend and vote at a meeting or adjourned meeting.
 If a Member votes on any resolution a vote by his proxy on the same resolution, unless in
 respect of different Shares, shall be invalid.

12.25 The
 instrument appointing a proxy to vote at a meeting shall not confer any further right to
 speak at the meeting, except with the permission of the chairman of the meeting.

---

| | |
|:---|:---|
| **13** | **Number of Directors** |

---

13.1 There
 shall be a Board consisting of not less than one person provided however that the Company
 may by Ordinary Resolution increase or reduce the limits in the number of Directors. Unless
 fixed by Ordinary Resolution, the maximum number of Directors shall be unlimited.

---

| | |
|:---|:---|
| **14** | **Appointment, disqualification and removal of Directors** |

---

**First Directors**

14.1 The
 first Directors shall be appointed in writing by the subscriber or subscribers to the Memorandum,
 or a majority of them.

**No age limit**

14.2 There
 is no age limit for Directors save that they must be at least eighteen years of age.

**Corporate Directors**

14.3 Unless
 prohibited by law, a body corporate may be a Director. If a body corporate is a Director,
 the Articles about representation of corporate Members at general meetings apply, mutatis
 mutandis, to the Articles about Directors' meetings.

**No shareholding qualification**

14.4 Unless
 a shareholding qualification for Directors is fixed by Ordinary Resolution, no Director shall
 be required to own Shares as a condition of his appointment.

**Appointment of Directors**

14.5 A
 Director may be appointed by Ordinary Resolution or by the Directors. Any appointment may
 be to fill a vacancy or as an additional Director.

14.6 A
 remaining Director may appoint a Director even though there is not a quorum of Directors.

14.7 No
 appointment can cause the number of Directors to exceed the maximum (if one is set); and
 any such appointment shall be invalid.

14.8 For
 so long as Shares are listed on a Designated Stock Exchange, the Directors shall include
 at least such number of Independent Directors as applicable law, rules or regulations or
 the Designated Stock Exchange Rules require as determined by the Board by Board Resolution.

**Board's power to appoint Directors**

14.9 Without
 prejudice to the Company's power to appoint a person to be a Director pursuant to these
 Articles, the Board shall have power at any time to appoint any person who is willing to
 act as a Director, either to fill a vacancy or as an addition to the existing Board, subject
 to the total number of Directors not exceeding any maximum number fixed by or in accordance
 with these Articles.

14.10 An
 appointment of a Director may be on terms that the Director shall automatically retire from
 office (unless he has sooner vacated office) at the next or a subsequent annual general meeting
 or upon any specified event or after any specified period in a written agreement between
 the Company and the Director, if any; but no such term shall be implied in the absence of
 express provision. Each Director whose term of office expires shall be eligible for re-election
 at a meeting of the Members or re-appointment by the Board.

**Removal of Directors**

14.11 A
 Director may be removed by Board Resolution.

**Resignation of Directors**

14.12 A
 Director may at any time resign office by giving to the Company notice in writing or, if
 permitted pursuant to the notice provisions, in an Electronic Record delivered in either
 case in accordance with those provisions.

14.13 Unless
 the notice specifies a different date, the Director shall be deemed to have resigned on the
 date that the notice is delivered to the Company.

**Termination of the office of Director**

14.14 A
 Director may retire from office as a Director by giving notice in writing to that effect
 to the Company at the registered office, which notice shall be effective upon such date as
 may be specified in the notice, failing which upon delivery to the registered office.

14.15 Without
 prejudice to the provisions in these Articles for retirement (by rotation or otherwise),
 a Director's office shall be terminated forthwith if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) he
 is prohibited by the law of the Cayman Islands from acting as a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) he
 is made bankrupt or makes an arrangement or composition with his creditors generally; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) he
 resigns his office by notice to the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) he
 only held office as a Director for a fixed term and such term expires; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in
 the opinion of a registered medical practitioner by whom he is being treated he becomes physically
 or mentally incapable of acting as a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) he
 is given notice by the majority of the other Directors (not being less than two in number)
 to vacate office (without prejudice to any claim for damages for breach of any agreement
 relating to the provision of the services of such Director); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) he
 is made subject to any law relating to mental health or incompetence, whether by court order
 or otherwise; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) without
 the consent of the other Directors, he is absent from meetings of Directors for a continuous
 period of six months.

---

| | |
|:---|:---|
| **15** | **Alternate Directors** |

---

**Appointment and removal**

15.1 Any
 Director may appoint any other person, including another Director, to act in his place as
 an alternate Director. No appointment shall take effect until the Director has given notice
 of the appointment to the Board.

15.2 A
 Director may revoke his appointment of an alternate at any time. No revocation shall take
 effect until the Director has given notice of the revocation to the Board.

15.3 A
 notice of appointment or removal of an alternate Director shall be effective only if given
 to the Company by one or more of the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 notice in writing in accordance with the notice provisions contained in these Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 the Company has a facsimile address for the time being, by sending by facsimile transmission
 to that facsimile address a facsimile copy or, otherwise, by sending by facsimile transmission
 to the facsimile address of the Company's registered office a facsimile copy (in either
 case, the facsimile copy being deemed to be the notice unless Article 29.7 applies), in which
 event notice shall be taken to be given on the date of an error-free transmission report
 from the sender's fax machine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 the Company has an email address for the time being, by emailing to that email address a
 scanned copy of the notice as a PDF attachment or, otherwise, by emailing to the email address
 provided by the Company's registered office a scanned copy of the notice as a PDF attachment
 (in either case, the PDF version being deemed to be the notice unless Article 29.7 applies),
 in which event notice shall be taken to be given on the date of receipt by the Company or
 the Company's registered office (as appropriate) in readable form; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if
 permitted pursuant to the notice provisions, in some other form of approved Electronic Record
 delivered in accordance with those provisions in writing.

**Notices**

15.4 All
 notices of meetings of Directors shall continue to be given to the appointing Director and
 not to the alternate.

**Rights of alternate Director**

15.5 An
 alternate Director shall be entitled to attend and vote at any Board meeting or meeting of
 a committee of the Directors at which the appointing Director is not personally present,
 and generally to perform all the functions of the appointing Director in his absence. An
 alternate Director, however, is not entitled to receive any remuneration from the Company
 for services rendered as an alternate Director.

**Appointment ceases when the appointor ceases to be a Director**

15.6 An
 alternate Director shall cease to be an alternate Director if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Director who appointed him ceases to be a Director; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Director who appointed him revokes his appointment by notice delivered to the Board or to
 the registered office of the Company or in any other manner approved by the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in
 any event happens in relation to him which, if he were a Director of the Company, would cause
 his office as Director to be vacated.

**Status of alternate Director**

15.7 An
 alternate Director shall carry out all functions of the Director who made the appointment.

15.8 Save
 where otherwise expressed, an alternate Director shall be treated as a Director under these
 Articles.

15.9 An
 alternate Director is not the agent of the Director appointing him.

15.10 An
 alternate Director is not entitled to any remuneration for acting as alternate Director.

**Status of the Director making the appointment**

15.11 A
 Director who has appointed an alternate is not thereby relieved from the duties which he
 owes the Company.

---

| | |
|:---|:---|
| **16** | **Powers of Directors** |

---

**Powers of Directors**

16.1 Subject
 to the provisions of the Act, the Memorandum and these Articles the business of the Company
 shall be managed by the Directors who may for that purpose exercise all the powers of the
 Company.

16.2 No
 prior act of the Directors shall be invalidated by any subsequent alteration of the Memorandum
 or these Articles. However, to the extent allowed by the Act, Members may, by Special Resolution,
 validate any prior or future act of the Directors which would otherwise be in breach of their
 duties.

**Directors below the minimum number**

16.3 lf
 the number of Directors is less than the minimum prescribed in accordance with these Articles,
 the remaining Director or Directors shall act only for the purposes of appointing an additional
 Director or Directors to make up such minimum or of convening a general meeting of the Company
 for the purpose of making such appointment. lf there are no Director or Directors able or
 willing to act, any two Members may summon a general meeting for the purpose of appointing
 Directors. Any additional Director so appointed shall hold office (subject to these Articles)
 only until the dissolution of the annual general meeting next following such appointment
 unless he is re-elected during such meeting.

**Appointments to office**

16.4 The
 Directors may by Board Resolution appoint a Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as
 chairman of the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as
 managing Director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to
 any other executive office,

for such period, and on such terms, including as to remuneration as they think fit.

16.5 The
 appointee must consent in writing to holding that office.

16.6 Where
 a chairman is appointed he shall, unless unable to do so, preside at every meeting of Directors.

16.7 If
 there is no chairman, or if the chairman is unable to preside at a meeting, that meeting
 may select its own chairman; or the Directors may nominate one of their number to act in
 place of the chairman should he ever not be available.

16.8 Subject
 to the provisions of the Act, the Directors may also appoint and remove any person, who need
 not be a Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as
 Secretary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 any office that may be required

for such period and on such terms, including as to remuneration, as they think fit. In the case of an Officer, that Officer may be given any title the Directors decide.

16.9 The
 Secretary or Officer must consent in writing to holding that office.

16.10 A
 Director, Secretary or other Officer of the Company may not the hold the office, or perform
 the services, of auditor.

**Provisions for employees**

16.11 The
 Board may make provision for the benefit of any persons employed or formerly employed by
 the Company or any of its subsidiary undertakings (or any member of his family or any person
 who is dependent on him) in connection with the cessation or the transfer to any person of
 the whole or part of the undertaking of the Company or any of its subsidiary undertakings.

**Exercise of voting rights**

16.12 The
 Board may exercise the voting power conferred by the Shares in any body corporate held or
 owned by the Company in such manner in all respects as it thinks fit (including, without
 limitation, the exercise of that power in favour of any resolution appointing any Director
 as a Director of such body corporate, or voting or providing for the payment of remuneration
 to the Directors of such body corporate).

**Remuneration**

16.13 Every
 Director may be remunerated by the Company for the services he provides for the benefit of
 the Company, whether as Director, employee or otherwise, and shall be entitled to be paid
 for the expenses incurred in the Company's business including attendance at Directors'
 meetings.

16.14 Until
 otherwise determined by the Company by Ordinary Resolution, the Directors (other than alternate
 Directors) shall be entitled to such remuneration by way of fees for their services in the
 office of Director as the Directors may determine.

16.15 Remuneration
 may take any form and may include arrangements to pay pensions, health insurance, death or
 sickness benefits, whether to the Director or to any other person connected to or related
 to him.

16.16 Unless
 his fellow Directors determine otherwise, a Director is not accountable to the Company for
 remuneration or other benefits received from any other company which is in the same group
 as the Company or which has common shareholdings.

**Disclosure of information**

16.17 Subject
 to compliance with applicable laws, including the applicable federal securities laws of the
 United States, the Directors may release or disclose to a third party any information regarding
 the affairs of the Company, including any information contained in the register of Members
 relating to a Member, (and they may authorise any Director, Officer or other authorised agent
 of the Company to release or disclose to a third party any such information in his possession)
 if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company or that person, as the case may be, is lawfully required to do so under the laws
 of any jurisdiction to which the Company is subject; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such
 disclosure is in compliance with the Designated Stock Exchange Rules; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such
 disclosure is in accordance with any contract entered into by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Directors are of the opinion such disclosure would assist or facilitate the Company's
 operations.

---

| | |
|:---|:---|
| **17** | **Delegation of powers** |

---

**Power to delegate any of the Directors' powers to a committee**

17.1 The
 Directors may delegate any of their powers to any committee consisting of one or more persons
 who need not be Members. Persons on the committee may include non-Directors so long as the
 majority of those persons are Directors. For so long as Shares are listed on a Designated
 Stock Exchange, any such committee shall be made up of such number of Independent Directors
 as required from time to time by the Designated Stock Exchange Rules or otherwise required
 by applicable law.

17.2 The
 delegation may be collateral with, or to the exclusion of, the Directors' own powers.

17.3 The
 delegation may be on such terms as the Directors think fit, including provision for the committee
 itself to delegate to a sub-committee; save that any delegation must be capable of being
 revoked or altered by the Directors at will.

17.4 Unless
 otherwise permitted by the Directors, a committee must follow the procedures prescribed for
 the taking of decisions by Directors.

17.5 For
 so long as Shares are listed on a Designated Stock Exchange, the Board shall by Board Resolution
 establish an audit committee, a compensation committee and a nominating and corporate governance
 committee. Each of these committees shall be empowered to do all things necessary to exercise
 the rights of such committee set forth in these Articles. Each of the audit committee, compensation
 committee and nominating and corporate governance committee shall consist of at least three
 Directors (or such larger minimum number as may be required from time to time by the Designated
 Stock Exchange Rules). The majority of the committee members on each of the compensation
 committee and nominating and corporate governance committee shall be Independent Directors.
 The audit committee shall be made up of such number of Independent Directors as required
 from time to time by the Designated Stock Exchange Rules or otherwise required by applicable
 law.

**Local boards**

17.6 The
 Board may by Board Resolution establish any local or divisional board or agency for managing
 any of the affairs of the Company whether in the Cayman Islands or elsewhere and may appoint
 any persons to be members of a local or divisional Board, or to be managers or agents, and
 may fix their remuneration.

17.7 The
 Board may by Board Resolution delegate to any local or divisional board, manager or agent
 any of its powers and authorities (with power to sub-delegate) and may authorise the members
 of any local or divisional board or any of them to fill any vacancies and to act notwithstanding
 vacancies.

17.8 Any
 appointment or delegation under Article 17.6 and Article 17.7 may be made on such terms and
 subject to such conditions as the Board thinks fit and the Board may by Board Resolution
 remove any person so appointed, and may revoke or vary any delegation.

**Power to appoint an agent of the Company**

17.9 The
 Directors may appoint any person, either generally or in respect of any specific matter,
 to be the agent of the Company with or without authority for that person to delegate all
 or any of that person's powers. The Directors may make that appointment:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 causing the Company to enter into a power of attorney or agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in
 any other manner they determine.

**Power to appoint an attorney or authorised signatory of the Company**

17.10 The
 Directors may appoint any person, whether nominated directly or indirectly by the Directors,
 to be the attorney or the authorised signatory of the Company. The appointment may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for
 any purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with
 the powers, authorities and discretions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for
 the period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) subject
 to such conditions

as they think fit. The powers, authorities and discretions, however, must not exceed those vested in, or exercisable, by the Directors under these Articles. The Directors may do so by power of attorney or any other manner they think fit.

17.11 Any
 power of attorney or other appointment may contain such provision for the protection and
 convenience for persons dealing with the attorney or authorised signatory as the Directors
 think fit. Any power of attorney or other appointment may also authorise the attorney or
 authorised signatory to delegate all or any of the powers, authorities and discretions vested
 in that person.

17.12 The
 Board may by Board Resolution remove any person appointed under Article 17.10 and may revoke
 or vary the delegation.

**Borrowing Powers**

17.13 The
 Directors may exercise all the powers of the Company to borrow money and to mortgage or charge
 its undertaking, property and assets both present and future and uncalled capital, or any
 part thereof, and to issue debentures and other securities, whether outright or as collateral
 security for any debt, liability or obligation of the Company or its parent undertaking (if
 any) or any subsidiary undertaking of the Company or of any third party.

**Corporate Governance**

17.14 The
 Board may by Board Resolution, from time to time, and except as required by applicable law
 or the Designated Stock Exchange Rules, adopt, institute, amend, modify or revoke the corporate
 governance policies or initiatives of the Company, which shall be intended to set forth the
 guiding principles and policies of the Company and the Board on various corporate governance
 related matters as the Board shall determine by Board Resolution from time to time.

---

| | |
|:---|:---|
| **18** | **Meetings of Directors** |

---

**Regulation of Directors' meetings**

18.1 Subject
 to the provisions of these Articles, the Directors may regulate their proceedings as they
 think fit.

**Calling meetings**

18.2 Any
 Director may call a meeting of Directors at any time. The Secretary must call a meeting of
 the Directors if requested to do so by a Director.

**Notice of meetings**

18.3 Notice
 of a Board meeting may be given to a Director personally or by word of mouth or given in
 writing or by Electronic communications at such address as he may from time to time specify
 for this purpose (or, if he does not specify an address, at his last known address). A Director
 may waive his right to receive notice of any meeting either prospectively or retrospectively.

**Use of technology**

18.4 A
 Director may participate in a meeting of Directors through the medium of conference telephone,
 video or any other form of communications equipment providing all persons participating in
 the meeting are able to hear and speak to each other throughout the meeting.

18.5 A
 Director participating in this way is deemed to be present in person at the meeting.

**Quorum**

18.6 The
 quorum for the transaction of business at a meeting of Directors shall be one unless the
 Directors fix some other number.

**Chairman or deputy to preside**

18.7 The
 Board may by Board Resolution appoint a chairman and one or more deputy chairman or chairmen
 and may at any time revoke any such appointment.

18.8 The
 chairman, or failing him any deputy chairman (the longest in office taking precedence if
 more than one is present), shall preside at all Board meetings. If no chairman or deputy
 chairman has been appointed, or if he is not present within five minutes after the time fixed
 for holding the meeting, or is unwilling to act as chairman of the meeting, the Directors
 present shall choose one of their number to act as chairman of the meeting.

**Voting**

18.9 A
 question which arises at a Board meeting shall be decided by a majority of votes. If votes
 are equal the chairman may, if he wishes, exercise a casting vote.

**Recording of dissent**

18.10 A
 Director present at a meeting of Directors shall be presumed to have assented to any action
 taken at that meeting unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) his
 dissent is entered in the minutes of the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) he
 has filed with the meeting before it is concluded signed dissent from that action; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) he
 has forwarded to the Company as soon as practical following the conclusion of that meeting
 signed dissent.

A Director who votes in favour of an action is not entitled to record his dissent to it.

 **Written resolutions**

18.11 The
 Directors may pass a resolution in writing without holding a meeting if all Directors sign
 a document or sign several documents in the like form each signed by one or more of those
 Directors.

18.12 A
 written resolution signed by a validly appointed alternate Director need not also be signed
 by the appointing Director.

18.13 A
 written resolution signed personally by the appointing Director need not also be signed by
 his alternate.

18.14 A
 resolution in writing passed pursuant to Article 18.11, Article 18.12 and/or Article 18.13
 shall be as effective as if it had been passed at a meeting of the Directors duly convened
 and held; and it shall be treated as having been passed on the day and at the time that the
 last Director signs (and for the avoidance of doubt, such day may or may not be a Business
 Day).

**Validity of acts of Directors in spite of formal defect**

18.15 All
 acts done by a meeting of the Board, or of a committee of the Board, or by any person acting
 as a Director or an alternate Director, shall, notwithstanding that it is afterwards discovered
 that there was some defect in the appointment of any Director or alternate Director or member
 of the committee, or that any of them were disqualified or had vacated office or were not
 entitled to vote, be as valid as if every such person had been duly appointed and qualified
 and had continued to be a Director or alternate Director and had been entitled to vote.

---

| | |
|:---|:---|
| **19** | **Permissible Directors' interests and disclosure** |

---

19.1 A
 Director who is in any way, whether directly or indirectly, interested in a contract or transaction
 or proposed contract or transaction with the Company shall declare the nature of his interest
 at a meeting of the Directors. A general notice given to the Directors by any Director to
 the effect that he is a member of any specified company or firm and is to be regarded as
 interested in any contract or transaction which may thereafter be made with that company
 or firm shall be deemed a sufficient declaration of interest in regard to any contract so
 made or transaction so consummated. Subject to the Designated Stock Exchange Rules and disqualification
 by the chairman of the relevant Board meeting, a Director may vote in respect of any contract
 or transaction or proposed contract or transaction notwithstanding that he may be interested
 therein provided the Director discloses to his fellow directors the nature and extent of
 any material interests in respect of any contract or transaction or proposed contract or
 transaction and if he does so his vote shall be counted and he may be counted in the quorum
 at any meeting of the Directors at which any such contract or transaction or proposed contract
 or transaction shall come before the meeting for consideration.

---

| | |
|:---|:---|
| **20** | **Minutes** |

---

20.1 The
 Company shall cause minutes to be made in books of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 appointments of Officers and committees made by the Board and of any such Officer's
 remuneration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 names of Directors present at every meeting of the Directors, a committee of the Board, the
 Company or the holders of any class of shares or debentures, and all orders, resolutions
 and proceedings of such meetings.

20.2 Any
 such minutes, if purporting to be signed by the chairman of the meeting at which the proceedings
 were held or by the chairman of the next succeeding meeting or the Secretary, shall be prima
 facie evidence of the matters stated in them.

---

| | |
|:---|:---|
| **21** | **Accounts and audit** |

---

21.1 The
 Directors must ensure that proper accounting and other records are kept, and that accounts
 and associated reports are distributed in accordance with the requirements of the Act.

21.2 The
 books of account shall be kept at the registered office of the Company and shall always be
 open to inspection by the Directors. No Member (other than a Director) shall have any right
 of inspecting any account or book or document of the Company except as conferred by the Act
 or as authorised by the Directors or by Ordinary Resolution.

**Financial year**

21.3 Unless
 the Directors otherwise prescribe, the financial year of the Company shall end on 31 March
 in each year and begin on 1 April in each year.

**Auditors**

21.4 The
 Directors may appoint an Auditor of the Company who shall hold office on such terms as the
 Directors determine.

21.5 At
 any general meeting convened and held at any time in accordance with these Articles, the
 Members may, by Ordinary Resolution, remove the Auditor before the expiration of his term
 of office. If they do so, the Members shall, by Ordinary Resolution, at that meeting appoint
 another Auditor in his stead for the remainder of his term.

21.6 The
 Auditors shall examine such books, accounts and vouchers; as may be necessary for the performance
 of their duties.

21.7 The
 Auditors shall, if so requested by the Directors, make a report on the accounts of the Company
 during their tenure of office at the next annual general meeting following their appointment,
 and at any time during their term of office, upon request of the Directors or any general
 meeting of the Company.

---

| | |
|:---|:---|
| **22** | **Record dates** |

---

22.1 Except
 to the extent of any conflicting rights attached to Shares, the resolution declaring a dividend
 on Shares of any class, whether it be an Ordinary Resolution of the Members or a Board Resolution,
 may specify that the dividend is payable or distributable to the persons registered as the
 holders of those Shares at the close of business on a particular date, notwithstanding that
 the date may be a date prior to that on which the resolution is passed.

22.2 If
 the resolution does so specify, the dividend shall be payable or distributable to the persons
 registered as the holders of those Shares at the close of business on the specified date
 in accordance with their respective holdings so registered, but without prejudice to the
 rights *inter se* in respect of the dividend of transferors and transferees of any of
 those Shares.

22.3 The
 provisions of this Article apply, *mutatis mutandis*, to bonuses, capitalisation issues,
 distributions of realised capital profits or offers or grants made by the Company to the
 Members.

---

| | |
|:---|:---|
| **23** | **Dividends** |

---

**Source of dividends**

23.1 Dividends
 may be declared and paid out of any funds of the Company lawfully available for distribution.

23.2 Subject
 to the requirements of the Act regarding the application of a company's Share premium
 account and with the sanction of an Ordinary Resolution, dividends may also be declared and
 paid out of any share premium account.

**Declaration of dividends by Members**

23.3 Subject
 to the provisions of the Act, the Company may by Ordinary Resolution declare dividends in
 accordance with the respective rights of the Members but no dividend shall exceed the amount
 recommended by the Directors.

23.4 No
 dividend may be declared or paid, and no other distribution (whether in cash or otherwise)
 of the Company's assets (including any distribution of assets to Members on a winding
 up) may be made to a holder of a Class B Ordinary Share.

**Payment of interim dividends and declaration of final dividends by Directors**

23.5 Subject
 to Article 23.4, the Directors may by Board Resolution declare and pay interim dividends
 or recommend final dividends in accordance with the respective rights of the Members if it
 appears to them that they are justified by the financial position of the Company and that
 such dividends may lawfully be paid.

23.6 Subject
 to the provisions of the Act, in relation to the distinction between interim dividends and
 final dividends, the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon
 determination to pay a dividend or dividends described as interim by the Directors in the

 payment is made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon
 declaration of a dividend or dividends described as final by the Directors in the dividend
 Board Resolution, a debt shall be created immediately following the declaration, the due
 date to be the date the dividend is stated to be payable in the Board Resolution.

If the Board Resolution fails to specify whether a dividend is final or interim, it shall be assumed to be interim.

23.7 In
 relation to Shares carrying differing rights to dividends or rights to dividends at a fixed
 rate, the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If
 the share capital is divided into different classes, the Directors may pay dividends on Shares
 which confer deferred or non-preferred rights with regard to dividends as well as on Shares
 which confer preferential rights with regard to dividends but no dividend shall be paid on
 Shares carrying deferred or non-preferred rights if, at the time of payment, any preferential
 dividend is in arrears.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 Directors may also pay, at intervals settled by them, any dividend payable at a fixed rate
 if it appears to them that there are sufficient funds of the Company lawfully available for
 distribution to justify the payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 the Directors act in good faith, they shall not incur any liability to the Members holding
 Shares conferring preferred rights for any loss those Members may suffer by the lawful payment
 of the dividend on any Shares having deferred or non-preferred rights.

**Apportionment of dividends**

23.8 Except
 as otherwise provided by the rights attached to Shares all dividends shall be declared and
 paid according to the amounts Paid Up on the Shares on which the dividend is paid. All dividends
 shall be apportioned and paid proportionately to the amount Paid Up on the Shares during
 the time or part of the time in respect of which the dividend is paid. But if a Share is
 issued on terms providing that it shall rank for dividend as from a particular date, that
 Share shall rank for dividend accordingly.

**Right of set off**

23.9 The
 Directors may deduct from a dividend or any other amount payable to a person in respect of
 a Share any amount due by that person to the Company on a call or otherwise in relation to
 a Share.

**Power to pay other than in cash**

23.10 If
 the Directors so determine, any Board Resolution declaring a dividend may direct that it
 shall be satisfied wholly or partly by the distribution of assets. If a difficulty arises
 in relation to the distribution, the Directors may settle that difficulty in any way they
 consider appropriate. For example, they may do any one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issue
 fractional Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) fix
 the value of assets for distribution and make cash payments to some Members on the footing
 of the value so fixed in order to adjust the rights of Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vest
 some assets in trustees.

**How payments may be made**

23.11 Subject
 to Article 23.4, a dividend or other monies payable on or in respect of a Share may be paid
 in any of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Member holding that Share or other person entitled to that Share nominates a bank account
 for that purpose - by wire transfer to that bank account; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 cheque or warrant sent by post to the registered address of the Member holding that Share
 or other person entitled to that Share.

23.12 For
 the purposes of Article 23.11(a), the nomination may be in writing or in an Electronic Record
 and the bank account nominated may be the bank account of another person. For the purposes
 of Article 23.11(b), subject to any applicable law or regulation, the cheque or warrant shall
 be made to the order of the Member holding that Share or other person entitled to the Share
 or to his nominee, whether nominated in writing or in an Electronic Record, and payment of
 the cheque or warrant shall be a good discharge to the Company.

23.13 Subject
 to Article 23.4, if two or more persons are registered as the holders of the Share or are
 jointly entitled to it by reason of the death or bankruptcy of the registered holder (**Joint Holders**), a dividend (or other amount) payable on or in respect of that Share may be
 paid as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 the registered address of the Joint Holder of the Share who is named first on the register
 of Members or to the registered address of the deceased or bankrupt holder, as the case may
 be; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 the address or bank account of another person nominated by the Joint Holders, whether that
 nomination is in writing or in an Electronic Record.

23.14 Subject
 to Article 23.4, any Joint Holder of a Share may give a valid receipt for a dividend (or
 other amount) payable in respect of that Share.

**Dividends or other monies not to bear interest in absence of special rights**

23.15 Unless
 provided for by the rights attached to a Share, no dividend or other monies payable by the
 Company in respect of a Share shall bear interest.

**Dividends unable to be paid or unclaimed**

23.16 Subject
 to Article 23.4, if a dividend cannot be paid to a Member or remains unclaimed within six
 weeks after it was declared or both, the Directors may pay it into a separate account in
 the Company's name. If a dividend is paid into a separate account, the Company shall
 not be constituted trustee in respect of that account and the dividend shall remain a debt
 due to the Member.

23.17 A
 dividend that remains unclaimed for a period of six years after it became due for payment
 shall be forfeited to, and shall cease to remain owing by, the Company.

---

| | |
|:---|:---|
| **24** | **Capitalisation of profits** |

---

**Capitalisation of profits or of any share premium account or capital redemption reserve;**

24.1 The
 Directors may resolve to capitalise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 part of the Company's profits not required for paying any preferential dividend (whether
 or not those profits are available for distribution); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 sum standing to the credit of the Company's share premium account or capital redemption
 reserve, if any.

24.2 Subject
 to Article 23.4, the amount resolved to be capitalised must be appropriated to the Members
 who would have been entitled to it had it been distributed by way of dividend and in the
 same proportions. The benefit to each Member so entitled must be given in either or both
 of the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 paying up the amounts unpaid on that Member's Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 issuing Fully Paid Up Shares, debentures or other securities of the Company to that Member
 or as that Member directs. The Directors may resolve that any Shares issued to the Member
 in respect of Partly Paid Up Shares (**Original Shares**) rank for dividend only to the
 extent that the Original Shares rank for dividend while those Original Shares remain Partly
 Paid Up.

**Applying an amount for the benefit of Members**

24.3 Subject
 to Article 23.4, the amount capitalised must be applied to the benefit of Members in the
 proportions to which the Members would have been entitled to dividends if the amount capitalised
 had been distributed as a dividend.

24.4 Subject
 to the Act, if a fraction of a Share, a debenture or other security is allocated to a Member,
 the Directors may issue a fractional certificate to that Member or pay him the cash equivalent
 of the fraction.

---

| | |
|:---|:---|
| **25** | **Share Premium Account** |

---

**Directors to maintain share premium account**

25.1 The
 Directors shall establish a share premium account in accordance with the Act. They shall
 carry to the credit of that account from time to time an amount equal to the amount or value
 of the premium paid on the issue of any Share or capital contributed or such other amounts
 required by the Act.

**Debits to share premium account**

25.2 The
 following amounts shall be debited to any share premium account:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) on
 the redemption or purchase of a Share, the difference between the nominal value of that Share
 and the redemption or purchase price; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 other amount paid out of a share premium account as permitted by the Act.

25.3 Notwithstanding
 the preceding Article, on the redemption or purchase of a Share, the Directors may pay the
 difference between the nominal value of that Share and the redemption purchase price out
 of the profits of the Company or, as permitted by the Act, out of capital.

---

| | |
|:---|:---|
| **26** | **Seal** |

---

**Company seal**

26.1 The
 Company may have a seal if the Directors so determine by Board Resolution.

**Duplicate seal**

26.2 Subject
 to the provisions of the Act, the Company may also have a duplicate seal or seals for use
 in any place or places outside the Cayman Islands. Each duplicate seal shall be a facsimile
 of the original seal of the Company. However, if the Directors so determine by Board Resolution,
 a duplicate seal shall have added on its face the name of the place where it is to be used.

**When and how seal is to be used**

26.3 A
 seal may only be used by the authority of the Directors. Unless the Directors otherwise determine
 by Board Resolution, a document to which a seal is affixed must be signed in one of the following
 ways:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 a Director (or his alternate) and the Secretary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 a single Director (or his alternate).

**If no seal is adopted or used**

26.4 If
 the Directors do not adopt a seal, or a seal is not used, a document may be executed in the
 following manner:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by
 a Director (or his alternate) and the Secretary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by
 a single Director (or his alternate); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in
 any other manner permitted by the Act.

**Power to allow non-manual signatures and facsimile printing of seal**

26.5 The
 Directors may determine by Board Resolution that either or both of the following applies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that
 the seal or a duplicate seal need not be affixed manually but may be affixed by some other
 method or system of reproduction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 a signature required by these Articles need not be manual but may be a mechanical or Electronic
 Signature.

**Validity of execution**

26.6 If
 a document is duly executed and delivered by or on behalf of the Company, it shall not be
 regarded as invalid merely because, at the date of the delivery, the Secretary, or the Director,
 or other Officer or person who signed the document or affixed the seal for and on behalf
 of the Company ceased to be the Secretary or hold that office and authority on behalf of
 the Company.

---

| | |
|:---|:---|
| **27** | **Indemnity** |

---

27.1 To
 the extent permitted by law, the Company shall indemnify each existing or former Director
 (including alternate Director), Secretary and other Officer of the Company (including an
 investment adviser or an administrator or liquidator) and their personal representatives
 against:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred or
 sustained by the existing or former Director (including alternate Director), Secretary or
 Officer in or about the conduct of the Company's business or affairs or in the execution
 or discharge of the existing or former Director's (including alternate Director's),
 Secretary's or Officer's duties, powers, authorities or discretions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) without
 limitation to paragraph (a), all costs, expenses, losses or liabilities incurred by the existing
 or former Director (including alternate Director), Secretary or Officer in defending (whether
 successfully or otherwise) any civil, criminal, administrative or investigative proceedings
 (whether threatened, pending or completed) concerning the Company or its affairs in any court
 or tribunal, whether in the Cayman Islands or elsewhere.

No such existing or former Director (including alternate Director), Secretary or Officer, however, shall be indemnified in respect of any matter arising out of his own dishonesty.

27.2 To
 the extent permitted by Act, the Company may make a payment, or agree to make a payment,
 whether by way of advance, loan or otherwise, for any legal costs incurred by an existing
 or former Director (including alternate Director), Secretary or Officer of the Company in
 respect of any matter identified in Article 27.1 on condition that the Director (including
 alternate Director), Secretary or Officer must repay the amount paid by the Company to the
 extent that it is ultimately found not liable to indemnify the Director (including alternate
 Director), Secretary or that Officer for those legal costs.

**Release**

27.3 To
 the extent permitted by Act, the Company may by Special Resolution release any existing or
 former Director (including alternate Director), Secretary or other Officer of the Company
 from liability for any loss or damage or right to compensation which may arise out of or
 in connection with the execution or discharge of the duties, powers, authorities or discretions
 of his office; but there may be no release from liability arising out of or in connection
 with that person's own dishonesty.

**Insurance**

27.4 To
 the extent permitted by Act, the Company may pay, or agree to pay, a premium in respect of
 a contract insuring each of the following persons against risks determined by the Directors,
 other than liability arising out of that person's own dishonesty:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an
 existing or former Director (including alternate Director), Secretary or Officer or auditor
 of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a
 company which is or was a subsidiary of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a
 company in which the Company has or had an interest (whether direct or indirect); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 trustee of an employee or retirement benefits scheme or other trust in which any of the persons
 referred to in paragraph (a) is or was interested.

---

| | |
|:---|:---|
| **28** | **Notices** |

---

**Form of notices**

28.1 Save
 where these Articles provide otherwise, and subject to the Designated Stock Exchange Rules,
 any notice to be given to or by any person pursuant to these Articles shall be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 writing signed by or on behalf of the giver in the manner set out below for written notices;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject
 to the next Article, in an Electronic Record signed by or on behalf of the giver by Electronic
 Signature and authenticated in accordance with Articles about authentication of Electronic
 Records; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) where
 these Articles expressly permit, by the Company by means of a website.

**Electronic communications**

28.2 A
 notice may only be given to the Company in an Electronic Record if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Directors so resolve or otherwise accept the notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 Director or Officer provides the giver of the notice an electronic address to which the notice
 may be sent and a notice is sent to that address within a reasonable period of time.

28.3 A
 notice may not be given by Electronic Record to a person other than the Company unless the
 recipient has provided the giver of an Electronic address to which notice may be sent.

28.4 Subject
 to the Act, the Designated Stock Exchange Rules and to any other rules which the Company
 is bound to follow, the Company may also send any notice or other document pursuant to these
 Articles to a Member by publishing that notice or other document on a website where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company and the Member have agreed to his having access to the notice or document on a website
 (instead of it being sent to him);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 notice or document is one to which that agreement applies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Member is notified (in accordance with any requirements laid down by the Act and, in a manner
 for the time being agreed between him and the Company for the purpose) of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 publication of the notice or document on a website;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the
 address of that website; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 place on that website where the notice or document may be accessed, and how it may be accessed;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 notice or document is published on that website throughout the publication period, provided
 that, if the notice or document is published on that website for a part, but not all of,
 the publication period, the notice or document shall be treated as being published throughout
 that period if the failure to publish that notice of document throughout that period is wholly
 attributable to circumstances which it would not be reasonable to have expected the Company
 to prevent or avoid. For the purposes of this Article 28.4 "publication period"
 means a period of not less than seven days, beginning on the day on which the notification
 referred to in Article 28.4(c) is deemed sent.

**Persons entitled to notices**

28.5 Any
 notice or other document to be given to a Member may be given by reference to the register
 of Members as it stands at any time within the period of seven days before the day that the
 notice is given or (where and as applicable) within any other period permitted by, or in
 accordance with the requirements of, (to the extent applicable) the Designated Stock Exchange
 Rules and/or the Designated Stock Exchanges. No change in the register of Members after that
 time shall invalidate the giving of such notice or document or require the Company to give
 such item to any other person.

**Persons authorised to give notices**

28.6 A
 notice by either the Company or a Member pursuant to these Articles may be given on behalf
 of the Company or a Member by a Director or company secretary of the Company or a Member.

**Delivery of written notices**

28.7 Save
 where these Articles provide otherwise, a notice in writing may be given personally to the
 recipient, or left at (as appropriate) the Member's or Director's registered
 address or the Company's registered office, or posted to that registered address or
 registered office.

**Joint holders**

28.8 Where
 Members are joint holders of a Share, all notices shall be given to the Member whose name
 first appears in the register of Members.

**Signatures**

28.9 A
 written notice shall be signed when it is autographed by or on behalf of the giver, or is
 marked in such a way as to indicate its execution or adoption by the giver.

28.10 An
 Electronic Record may be signed by an Electronic Signature.

**Evidence of transmission**

28.11 A
 notice given by Electronic Record shall be deemed sent if an Electronic Record is kept demonstrating
 the time, date and content of the transmission, and if no notification of failure to transmit
 is received by the giver.

28.12 A
 notice given in writing shall be deemed sent if the giver can provide proof that the envelope
 containing the notice was properly addressed, pre-paid and posted, or that the written notice
 was otherwise properly transmitted to the recipient.

28.13 A
 Member present, either in person or by proxy, at any meeting of the Company or of the holders
 of any class of Shares shall be deemed to have received due notice of the meeting and, where
 requisite, of the purposes for which it was called.

**Giving notice to a deceased or bankrupt Member**

28.14 A
 notice may be given by the Company to the persons entitled to a Share in consequence of the
 death or bankruptcy of a Member by sending or delivering it, in any manner authorised by
 these Articles for the giving of notice to a Member, addressed to them by name, or by the
 title of representatives of the deceased, or trustee of the bankrupt or by any like description,
 at the address, if any, supplied for that purpose by the persons claiming to be so entitled.

28.15 Until
 such an address has been supplied, a notice may be given in any manner in which it might
 have been given if the death or bankruptcy had not occurred.

**Date of giving notices**

28.16 A
 notice is given on the date identified in the following table

---

| | |
|:---|:---|
| **Method for giving notices** | **When taken to be given** |
| (A) Personally | At the time and date of delivery |
| (B) By leaving it at the Member's registered address | At the time and date it was left |
| (C) By posting it by prepaid post to the street or postal address of that recipient | 48 hours after the date it was posted |
| (D) By Electronic Record (other than publication on a website), to recipient's Electronic address | 48 hours after the date it was sent |
| (E) By publication on a website | 24 hours after the date on which the Member is deemed to have been notified of the publication of the notice or document on the website |

---

**Saving provision**

28.17 None
 of the preceding notice provisions shall derogate from the Articles about the delivery of
 written resolutions of Directors and written resolutions of Members.

---

| | |
|:---|:---|
| **29** | **Authentication of Electronic Records** |

---

**Application of Articles**

29.1 Without
 limitation to any other provision of these Articles, any notice, written resolution or other
 document under these Articles that is sent by Electronic means by a Member, or by the Secretary,
 or by a Director or other Officer of the Company, shall be deemed to be authentic if either
 Article 29.2 or Article 29.4 applies.

**Authentication of documents sent by Members by Electronic means**

29.2 An
 Electronic Record of a notice, written resolution or other document sent by Electronic means
 by or on behalf of one or more Members shall be deemed to be authentic if the following conditions
 are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Member or each Member, as the case may be, signed the original document, and for this purpose **Original Document** includes several documents in like form signed by one or more of
 those Members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Electronic Record of the Original Document was sent by Electronic means by, or at the direction
 of, that Member to an address specified in accordance with these Articles for the purpose
 for which it was sent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Article
 29.7 does not apply.

29.3 For
 example, where a sole Member signs a resolution and sends the Electronic Record of the original
 resolution, or causes it to be sent, by facsimile transmission to the address in these Articles
 specified for that purpose, the facsimile copy shall be deemed to be the written resolution
 of that Member unless Article 28.7 applies.

**Authentication of document sent by the Secretary or Officers of the Company by Electronic means**

29.4 An
 Electronic Record of a notice, written resolution or other document sent by or on behalf
 of the Secretary or an Officer or Officers of the Company shall be deemed to be authentic
 if the following conditions are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Secretary or the Officer or each Officer, as the case may be, signed the original document,
 and for this purpose **Original Document** includes several documents in like form signed
 by the Secretary or one or more of those Officers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Electronic Record of the Original Document was sent by Electronic means by, or at the direction
 of, the Secretary or that Officer to an address specified in accordance with these Articles
 for the purpose for which it was sent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Article
 29.7 does not apply.

This Article 29.4 applies whether the document is sent by or on behalf of the Secretary or Officer in his own right or as a representative of the Company.

29.5 For
 example, where a sole Director signs a resolution and scans the resolution, or causes it
 to be scanned, as a PDF version which is attached to an email sent to the address in these
 Articles specified for that purpose, the PDF version shall be deemed to be the written resolution
 of that Director unless Article 29.7 applies.

**Manner of signing**

29.6 For
 the purposes of these Articles about the authentication of Electronic Records, a document
 will be taken to be signed if it is signed manually or in any other manner permitted by these
 Articles.

**Saving provision**

29.7 A
 notice, written resolution or other document under these Articles will not be deemed to be
 authentic if the recipient, acting reasonably:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) believes
 that the signature of the signatory has been altered after the signatory had signed the original
 document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) believes
 that the original document, or the Electronic Record of it, was altered, without the approval
 of the signatory, after the signatory signed the original document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) otherwise
 doubts the authenticity of the Electronic Record of the document

and the recipient promptly gives notice to the sender setting the grounds of its objection. If the recipient invokes this Article, the sender may seek to establish the authenticity of the Electronic Record in any way the sender thinks fit.

---

| | |
|:---|:---|
| **30** | **Transfer by way of continuation** |

---

30.1 The
 Company may, by Special Resolution, resolve to be registered by way of continuation in a
 jurisdiction outside:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Cayman Islands; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such
 other jurisdiction in which it is, for the time being, incorporated, registered or existing.

30.2 To
 give effect to any resolution made pursuant to the preceding Article, the Directors may cause
 the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) an
 application be made to the Registrar of Companies of the Cayman Islands to deregister the
 Company in the Cayman Islands or in the other jurisdiction in which it is for the time being
 incorporated, registered or existing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 such further steps as they consider appropriate to be taken to effect the transfer by way
 of continuation of the Company.

---

| | |
|:---|:---|
| **31** | **Winding up** |

---

**Distribution of assets in specie**

31.1 If
 the Company is wound up the Members may, subject to these Articles and any other sanction
 required by the Act, pass a Special Resolution allowing the liquidator to do either or both
 of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 divide in specie among the holders of the Class A Ordinary Shares the whole or any part of
 the assets of the Company and, for that purpose, to value any assets and to determine how
 the division shall be carried out as among the holders of the Class A Ordinary Shares; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 vest the whole or any part of the assets in trustees for the benefit of the holders of the
 Class A Ordinary Shares and those liable to contribute to the winding up.

31.2 No
 distribution (whether in cash or otherwise) of the Company's assets on a winding up
 may be made to a holder of a Class B Ordinary Share.

**No obligation to accept liability**

31.3 No
 Member shall be compelled to accept any assets if an obligation attaches to them.

31.4 The
 Directors are authorised to present a winding up petition

31.5 The
 Directors have the authority to present a petition for the winding up of the Company to the
 Grand Court of the Cayman Islands on behalf of the Company without the sanction of a resolution
 passed at a general meeting.

---

| | |
|:---|:---|
| **32** | **Amendment of Memorandum and Articles** |

---

**Power to change name or amend Memorandum**

32.1 Subject
 to the Act, the Company may, by Special Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) change
 its name; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) change
 the provisions of its Memorandum with respect to its objects, powers or any other matter
 specified in the Memorandum.

**Power to amend these Articles**

32.2 Subject
 to the Act and as provided in these Articles, the Company may, by Special Resolution, amend
 these Articles in whole or in part.

**Annex B**

**OFA GROUP**

**2026 EQUITY INCENTIVE PLAN**

**1.**  **<u>Purpose</u>** 

The Plan's purpose is to attract, retain, and motivate persons who make important contributions to the Company by providing these individuals with the opportunity to acquire Shares. Additionally, the Plan is intended to align the interests of these individuals to those of the Company's other shareholders.

**2.**  **<u>Definitions</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;2.1.  ***Administrator*** means the Board or a Committee to the extent the Board's powers and authorities under
 the Plan have been delegated to a Committee. "Administrator" also includes any
 officer that has been delegated authority pursuant to Section 4.2 for such time as such delegation
 is in effect.

&nbsp;&nbsp;&nbsp;&nbsp;2.2.  ***Affiliate*** means (i) any person or entity that directly or indirectly controls, is controlled by or
 is under common control with the Company and/or (ii) to the extent provided by the Board
 or a Committee, any person or entity in which the Company has a significant interest as determined
 by the Board or a Committee in its discretion. The term "control" (including,
 with correlative meaning, the terms "controlled by" and "under common control
 with"), as applied to any person or entity, means the possession, directly or indirectly,
 of the power to direct or cause the direction of the management and policies of such person
 or entity, whether through the ownership of voting or other securities, by contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;2.3.  ***Applicable Law*** means any applicable law, including without limitation: (i) provisions of the
 Code, the Securities Act, the Exchange Act and any rules or regulations thereunder, (ii)
 corporate, securities, tax or other laws, statutes, rules, requirements, or regulations,
 whether federal, state, local, or foreign, and (iii) rules of any securities exchange or
 automated quotation system on which the Shares are listed, quoted, or traded.

&nbsp;&nbsp;&nbsp;&nbsp;2.4.  ***Award*** means an Option award, Stock Appreciation Right award, Restricted Stock award, Restricted
 Stock Unit award, Performance Award, Dividend Equivalents award, or Other Stock or Cash Based
 Award granted to a Participant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;2.5.  ***Award Agreement*** means an agreement (written or electronic) made and delivered in accordance
 with Section 12.3 of this Plan, evidencing the grant of an Award hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.6.  ***Board*** means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;2.7.  ***Cause*** means, in the case of a particular Award, unless the applicable Award Agreement states otherwise,
 (i) the Company or an Affiliate having "cause" to terminate a Participant's
 employment or service, as defined in any employment or consulting agreement or similar document
 or policy between the Participant and the Company or an Affiliate in effect at the time of
 such termination or (ii) in the absence of any such employment or consulting agreement, document
 or policy (or the absence of any definition of "Cause" contained therein), (A)
 a continuing material breach or material default (including, without limitation, any material
 dereliction of duty) by Participant of any agreement between the Participant and the Company,
 except for any such breach or default which is caused by the Participant's Disability,
 or a continuing failure by the Participant to follow the direction of a duly authorized representative
 of the Company; (B) gross negligence, willful misfeasance or breach of fiduciary duty to
 the Company or Affiliate by the Participant; (C) the commission by the Participant of an
 act of fraud, embezzlement or any felony or other crime of dishonesty in connection with
 the Participant's duties to the Company or Affiliate; or (D) the Participant's
 conviction of, or plea of *nolo contendere* to, a felony or any other crime that would
 materially and adversely affect: (i) the business reputation of the Company or Affiliate
 or (ii) the performance of the Participant's duties to the Company or an Affiliate.
 Any determination of whether Cause exists shall be made by the Administrator in its sole
 discretion.

&nbsp;&nbsp;&nbsp;&nbsp;2.8.  ***Change in Control*** shall, in the case of a particular Award, unless the applicable Award
 Agreement provides otherwise or contains a different definition of "Change in Control"
 be deemed to occur upon:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.1. A
 tender offer (or series of related offers) which is made and consummated for the ownership
 of 50% or more of the outstanding voting securities of the Company, unless as a result of
 such tender offer more than 50% of the outstanding voting securities of the surviving or
 resulting corporation or entity are owned in the aggregate by (A) the shareholders of the
 Company (as of the time immediately prior to the commencement of such offer), or (B) any
 employee benefit plan of the Company or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.2. The
 consummation of the Company's merger or consolidation with another corporation, unless
 as a result of such merger or consolidation, more than 50% of the outstanding voting securities
 of the surviving or resulting corporation or entity shall be owned in the aggregate by (A)
 the shareholders of the Company (as of the time immediately prior to such transaction); provided,
 that a merger or consolidation of the Company with another company which is controlled by
 persons owning more than 50% of the outstanding voting securities of the Company shall constitute
 a Change in Control unless the Administrator, in its discretion, determine otherwise, or
 (B) any employee benefit plan of the Company or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.3. The
 consummation of the Company's sale of substantially all of its assets to another entity
 that is not wholly owned by the Company, unless as a result of such sale more than 50% of
 such assets shall be owned in the aggregate by (A) the shareholders of the Company (as of
 the time immediately prior to such transaction), or (B) any employee benefit plan of the
 Company or its Subsidiaries, and their Affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.4. The
 consummation of a transaction, or series of transactions, in which a Person acquires 50%
 or more of the outstanding voting securities of the Company (whether directly, indirectly,
 beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding
 voting securities of the surviving or resulting corporation or entity shall be owned in the
 aggregate by (A) the shareholders of the Company (as of the time immediately prior to the
 first acquisition of such securities by such Person), or (B) any employee benefit plan of
 the Company or its Subsidiaries, and their Affiliates; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8.5. The
 Incumbent Directors cease to constitute a majority of the Board for any reason.

For purposes of this Section 2.8, ownership of voting securities shall take into account and shall include ownership as determined by applying the provisions of Rule 13d-3(d)(1)(i) (as in effect on the date hereof) under the Exchange Act.

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award or portion thereof that provides for the deferral of compensation that is subject to Section 409A, then to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described above in this Section 2.8 with respect to such Award or portion thereof shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a "change in control event," as defined in Treasury Regulation Section 1.409A-3(i)(5).

The Administrator shall have the authority, in its sole discretion, to determine whether a Change in Control has occurred, the effective date of such Change in Control, and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a "change in control event" as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

&nbsp;&nbsp;&nbsp;&nbsp;2.9.  ***Clawback Policies*** means any policy of the Company regarding the reduction, recoupment, clawback
 or recovery of compensation, as such policies may be amended from time to time. "Clawback
 Policies" includes the Company's policies to comply with the Dodd-Frank Wall
 Street Reform and Consumer Protection Act, the Sarbanes-Oxley Act, or other Applicable Law,
 as well as any implementing regulations and/or listing standards.

&nbsp;&nbsp;&nbsp;&nbsp;2.10.  ***Code*** means the Internal Revenue Code of 1986, as amended, and any successor thereto. References
 in this Plan to any section of the Code shall be deemed to include any regulations or other
 interpretative guidance issued by any governmental authority under such section, and any
 amendments or successor provisions to such section, regulations or guidance.

&nbsp;&nbsp;&nbsp;&nbsp;2.11.  ***Committee*** means one or more committees or subcommittees of the Board, which shall be comprised, unless
 otherwise determined by the Board, solely of not less than two members who shall be (i) Non-Employee
 Directors, and (ii) "Non-Employee Directors" within the meaning of Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;2.12.  ***Company*** means OFA Group, a Cayman Islands exempted company.

&nbsp;&nbsp;&nbsp;&nbsp;2.13.  ***Consultant*** means any person, including any adviser, engaged by the Company or a Subsidiary to
 render services to such entity if the consultant or adviser: (i) renders bona fide services
 to the Company or a Subsidiary, (ii) renders services not in connection with the offer or
 sale of securities in a capital-raising transaction and does not directly or indirectly promote
 or maintain a market for the Company's securities, and (iii) who qualifies as a consultant
 or advisor under Instruction A.1.(a)(1) of Form S-8 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;2.14.  ***Designated Beneficiary*** means, if permitted by the Company, the beneficiary or beneficiaries
 the Participant designates, in a manner the Company determines, to receive amounts due or
 exercise the Participant's rights if the Participant dies. If a Participant does not
 make an effective designation, then the "Designated Beneficiary" will mean the
 Participant's estate or legal heirs.

&nbsp;&nbsp;&nbsp;&nbsp;2.15.  ***Director*** means a Board member.

&nbsp;&nbsp;&nbsp;&nbsp;2.16.  ***Disability*** means a permanent and total disability under Code Section 22(e)(3).

&nbsp;&nbsp;&nbsp;&nbsp;2.17.  ***Dividend Equivalents*** means a right granted to a Participant to receive the equivalent value
 (in cash or Shares) of dividends paid on a specified number of Shares. Such Dividend Equivalents
 shall be converted to cash or additional Shares, or a combination of cash and Shares, by
 such formula and at such time and subject to such limitations as may be determined by the
 Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;2.18.  ***Effective Date*** has the meaning ascribed to such term in Section 21.

&nbsp;&nbsp;&nbsp;&nbsp;2.19.  ***Employee*** means any employee of the Company or any of its Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;2.20.  ***ERISA*** means the Employee Retirement Income Security Act of 1974, as amended.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.21.  ***Exchange Act*** means the United States Securities Exchange Act of 1934, as amended, and all
 regulations, guidance, and other interpretive authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.22.  ***Fair Market Value*** means unless otherwise provided by the Administrator in accordance with
 Applicable Law, on a given date, (i) if the Shares are listed on a national securities exchange,
 the closing sales price on the principal exchange of the Shares on such date, as reported
 in *The Wall Street Journal* or another source the Administrator deems reliable, or,
 in the absence of reported sales on such date, the closing sales price on the immediately
 preceding date on which sales were reported, or (ii) if the Shares are not listed on a national
 securities exchange, the mean between the bid and offered prices as quoted by any nationally
 recognized interdealer quotation system for such date, as reported in *The Wall Street Journal* or another source the Administrator deems reliable, provided that if the Shares
 are not quoted on an interdealer quotation system or it is determined that the fair market
 value is not properly reflected by such quotations, Fair Market Value will be determined
 by such other method as the Administrator determines in good faith to be reasonable and in
 compliance with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;2.23.  ***GAAP*** means United States Generally Accepted Accounting Principles.

&nbsp;&nbsp;&nbsp;&nbsp;2.24.  ***Greater Than 10% Shareholder*** means an individual then owning (within the meaning of Code
 Section 424(d)) more than 10% of the total combined voting power of all classes of stock
 of the Company or any Parent or Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;2.25.  ***Incentive Stock Option*** means an Option that meets the requirements to qualify as an "incentive
 stock option" as defined in Code Section 422.

&nbsp;&nbsp;&nbsp;&nbsp;2.26.  ***Incumbent Directors*** means, for any period of 12 consecutive months, individuals who, at the
 beginning of such period, constitute the Board together with any new Director(s) (other than
 a Director designated by a person who shall have entered into an agreement with the Company
 to effect a transaction described in clause 2.8.1 or 2.8.3 of the Change in Control definition)
 whose election or nomination for election to the Board was approved by a vote of at least
 a majority (either by a specific vote or by approval of the proxy statement of the Company
 in which such person is named as a nominee for Director without objection to such nomination)
 of the Directors then still in office who either were Directors at the beginning of the 12-month
 period or whose election or nomination for election was previously so approved. No individual
 initially elected or nominated as a director of the Company as a result of an actual or threatened
 election contest with respect to Directors or as a result of any other actual or threatened
 solicitation of proxies by or on behalf of any person other than the Board shall be an Incumbent
 Director.

&nbsp;&nbsp;&nbsp;&nbsp;2.27.  ***Non-Employee Director*** means a Director who is not an Employee.

&nbsp;&nbsp;&nbsp;&nbsp;2.28.  ***Nonqualified Option*** means an Option that by its terms, or in operation, does not qualify or is
 not intended to qualify as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.29.  ***Option*** means an Award granted pursuant to Section 6 hereof (excepting Stock Appreciation Rights)
 to purchase a specified number of Shares at a specified price per Share during a specified
 time period, each as specified in an Award Agreement. An Option may be either an Incentive
 Stock Option or a Nonqualified Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.30.  ***Ordinary Shares*** or  ***Shares*** means the Class A ordinary shares, par value $0.01
 per share, of the Company (and any stock or other securities into which such common shares
 may be converted or into which they may be exchanged).

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.31.  ***Other Stock or Cash Based Awards*** means cash awards, awards of Shares, and other awards
 valued by reference to or based on, Shares or other property.

&nbsp;&nbsp;&nbsp;&nbsp;2.32.  ***Parent*** means a "parent corporation," whether now or hereafter existing, as defined by
 Code Section 424(e).

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.33.  ***Participant*** means a Service Provider who has been granted an Award.

&nbsp;&nbsp;&nbsp;&nbsp;2.34.  ***Performance Award*** means an Award granted hereunder that vests or is earned based at least in
 part upon the attainment of performance criteria established by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;2.35.  ***Period of Restriction*** means the period during which the transfer of Restricted Stock is
 subject to restrictions and a substantial risk of forfeiture. Such restrictions may be based
 on the passage of time, the achievement of certain performance criteria, or the occurrence
 of other events as determined by the Administrator.

 ****

&nbsp;&nbsp;&nbsp;&nbsp;2.36.  ***Person*** means as defined in Section 3(a)(9) of the Exchange Act, as modified and used in
 Sections 13(d) and 14(d) thereof; however, a Person shall not include (A) the Company or
 any of its Subsidiaries; (B) a trustee or other fiduciary holding securities under an employee
 benefit plan of the Company or any of its Subsidiaries; (C) an underwriter temporarily holding
 securities pursuant to an offering of such securities; or (D) a corporation owned, directly
 or indirectly, by the shareholders of the Company in substantially the same proportion as
 their ownership of stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;2.37.  ***Plan*** means this OFA Group 2026 Equity Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;2.38.  ***Restricted Stock*** means Shares, subject to a Period of Restriction or certain other specified
 restrictions (including, without limitation, a requirement that the Participant remain continuously
 employed or provide continuous service for a specified period of time), granted under Section
 7 or issued pursuant to the early exercise of an Option.

&nbsp;&nbsp;&nbsp;&nbsp;2.39.  ***Restricted Stock Unit*** or  ***RSU*** means an unfunded and unsecured promise to deliver
 Shares, cash, other securities, or other property, subject to certain restrictions (including,
 without limitation, a requirement that the Participant remain continuously employed or provide
 continuous service for a specified period of time), granted under Section 8.

&nbsp;&nbsp;&nbsp;&nbsp;2.40.  ***Restrictive Covenant*** means any non-competition, non-solicitation, confidentiality, non-disparagement,
 non-disclosure, or similar agreement between a Participant and the Company or an Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;2.41.  ***Rule 16b-3*** means Rule 16b-3 promulgated under the Exchange Act, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;2.42.  ***Securities Act*** means the United States Securities Act of 1933, as amended, and all regulations,
 guidance, and other interpretive authority issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;2.43.  ***Section 409A*** means Code Section 409A and the regulations and other guidance promulgated thereunder
 by the United States Treasury Department, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;2.44.  ***Service Provider*** means an Employee, Consultant, or a Director.

&nbsp;&nbsp;&nbsp;&nbsp;2.45.  ***Share Limit*** has the meaning ascribed to such term in Section 5.1.

&nbsp;&nbsp;&nbsp;&nbsp;2.46.  ***Stock Appreciation Right*** or  ***SAR*** means a right granted under Section 6 hereof
 to receive a payment equal to the excess of the Fair Market Value of a specified number of
 Shares on the date the right is exercised over the exercise price set forth in the applicable
 Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;2.47.  ***Subsidiary*** means a "subsidiary corporation," whether now or hereafter existing, as defined
 by Code Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;2.48.  ***Substitute Awards*** means Awards granted or Shares issued by the Company in assumption of, or
 in substitution or exchange for, awards previously granted, or the right or obligation to
 make future awards, in each case by a company or other entity acquired by the Company or
 any Subsidiary or with which the Company or any Subsidiary combines.

&nbsp;&nbsp;&nbsp;&nbsp;2.49.  ***Tax Obligations*** means any United States and non-United States federal, state, and/or
 local taxes, including income tax, social insurance contributions, fringe benefit tax, employment
 tax, stamp tax, and any employer tax liability which has been transferred to a Participant,
 for which a Participant is liable in connection with Awards and/or Shares.

&nbsp;&nbsp;&nbsp;&nbsp;2.50.  ***Termination of Service*** means the time at which a Participant has terminated from all service
 with the Company and its Affiliates, for any reason. A Termination of Service shall occur
 when a Participant is no longer a Consultant, Employee, or Non-Employee Director. The Company,
 in its sole discretion, shall make all determinations regarding whether a Termination of
 Service has occurred.

**3.**  **<u>Eligibility</u>** 

Service Providers are eligible to receive Awards pursuant to the Plan, subject to the Plan's conditions and limitations. No Service Provider shall have any right to be granted an Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Service Providers, Participants, or other persons uniformly.

**4.**  **<u>Administration</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;4.1. <u>Generally</u>.
 The Plan will be administered by the Administrator. The Administrator is authorized, subject
 to the provisions of the Plan, to establish such rules and regulations as it deems necessary
 for the proper administration of the Plan and to make such determinations and interpretations,
 and to take such action in connection with the Plan and any benefits granted hereunder as
 it deems necessary or advisable. Without limiting the foregoing, the Administrator shall
 have the sole discretion to (i) designate Participants; (ii) determine the type or types
 of Awards to be granted to a Participant; (iii) determine the number of Shares to be covered
 by, or with respect to which payments, rights, or other matters are to be calculated in connection
 with, Awards; (iv) determine the terms and conditions of any Award; (v) determine whether,
 to what extent, and under what circumstances Awards may be settled or exercised in cash,
 Shares, other securities, other Awards or other property, or canceled, forfeited, or suspended,
 and the method or methods by which Awards may be settled, exercised, canceled, forfeited,
 or suspended; (vi) determine whether, to what extent, and under what circumstances the delivery
 of cash, Shares, other securities, other Awards or other property and other amounts payable
 with respect to an Award shall be made; (vii) interpret, administer, reconcile any inconsistency
 in, settle any controversy regarding, correct any defect in and/or complete any omission
 in this Plan and any instrument or agreement relating to, or Award granted under, this Plan;
 (viii) establish, amend, suspend, or waive any rules and regulations and appoint such agents
 as the Administrator shall deem appropriate for the proper administration of this Plan; (ix)
 accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards;
 (x) to reprice existing Awards or to grant Awards in connection with or in consideration
 of the cancellation of an outstanding Award with a higher price; and (xi) make any other
 determination and take any other action that the Administrator deems necessary or desirable
 for the administration of the Plan. All determinations and interpretations made by the Administrator
 shall be binding and conclusive on all Participants and their legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;4.2. <u>Delegation</u>.
 The Board or a Committee may delegate its powers and authorities to one or more Committees
 or officers of the Company, provided, however, that no officer of the Company or any Subsidiary
 may be delegated authority to grant, amend, modify, make any administrative determination
 to, or cancel any Awards held by either (A) any person subject to Section 16 of the Exchange
 Act or (B) an officer who has been delegated any authority under the Plan. All delegations
 shall be subject to terms and conditions determined by the Board or a Committee. Any delegation
 of authority under the Plan may be revoked at any time. Regardless of any delegation, the
 Board or a Committee may act as the Administrator at any time in accordance with Applicable
 Law.

&nbsp;&nbsp;&nbsp;&nbsp;4.3. <u>Liability</u>.
 Neither the Administrator nor any employee of the Company shall be liable for any act or
 failure to act hereunder, except in circumstances involving his or her bad faith, gross negligence,
 or willful misconduct, or for any act or failure to act hereunder by any other member or
 employee or by any agent to whom duties in connection with the administration of this Plan
 have been delegated. The Company shall indemnify members of the Administrator and any agent
 of the Administrator who is an employee of the Company, a Subsidiary, or an Affiliate against
 any and all liabilities or expenses to which they may be subjected by reason of any act or
 failure to act with respect to their duties on behalf of the Plan, except in circumstances
 involving such person's bad faith, gross negligence or willful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Administrative Delegation and Reliance</u>. The Administrator may delegate to one or more of its members,
 or to one or more agents, such administrative duties as it may deem advisable, and the Administrator,
 or any person to whom it has delegated duties as aforesaid, may employ one or more persons
 to render advice with respect to any responsibility the Administrator or such person may
 have under the Plan. The Administrator may employ such legal or other counsel, consultants,
 and agents as it may deem desirable for the administration of the Plan and may rely upon
 any opinion or computation received from any such counsel, consultant, or agent.

**5.**  **<u>Plan Limits</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;5.1. <u>Number of Shares Available for Issuance</u>. Subject to the provisions of Section 11, the maximum
 aggregate number of Shares that may be issued under the Plan shall be the sum of (A) 3,940,027
 Shares, plus (B) an increase commencing on January 1, 2027 and continuing annually on each
 anniversary thereof through and including January 1, 2036, equal to the lesser of (i) 5%
 of the Shares issued and outstanding on the last day of the immediately preceding calendar
 year and (ii) such smaller number of Shares as determined by the Board or the Committee (the
 "  ***Share Limit*** "). The Shares subject to the Plan may be authorized,
 but unissued, or reacquired shares.

&nbsp;&nbsp;&nbsp;&nbsp;5.2. <u>Share Recycling</u>. Upon payment in Shares pursuant to the exercise or settlement of an Award,
 the number of Shares available for issuance under the Plan shall be reduced only by the number
 of Shares actually issued in such payment. If a Participant pays the exercise price (or purchase
 price, if applicable) of an Award through the tender of Shares, or if the Shares are tendered
 or withheld to satisfy any tax withholding obligations, the number of Shares so tendered
 or withheld shall again be available for issuance pursuant to future Awards under the Plan,
 although such Shares shall not again become available for issuance as Incentive Stock Options.
 Shares shall not be deemed to have been issued pursuant to the Plan with respect to any portion
 of an Award that is settled in cash. If any outstanding Award expires or is terminated or
 canceled without having been exercised or settled in full, or if the Shares acquired pursuant
 to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company,
 the Shares allocable to the terminated portion of such Award or such forfeited or repurchased
 Shares shall again be available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;5.3. <u>Incentive Stock Option Limit</u>. No more than 10,000,000 Shares (subject to adjustment pursuant to
 Section 11) may be issued under the Plan upon the exercise of Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;5.4. <u>Substitute Awards</u>. Substitute Awards shall not be counted against the Share Limit; provided, however,
 that Substitute Awards issued in connection with the assumption of, or in substitution for,
 outstanding Options intended to qualify as Incentive Stock Options shall be counted against
 the Incentive Stock Option limit in Section 5.3. Additionally, Shares subject to Substitute
 Awards shall not be added to the Shares available for Awards under the Plan pursuant to Section
 5.2. If the Company or any Subsidiary acquires or combines with a company that has shares
 available under an equity plan approved by shareholders and in place prior to such acquisition
 or combination (and not adopted in contemplation of such acquisition or combination), the
 available shares under the acquired or combined entity's plan (as appropriately adjusted
 to reflect the transaction) may be used for Awards under the Plan and shall not count against
 the Share Limit (and Shares subject to such Awards may again become available for Awards
 under the Plan as provided in Section 5.2). Awards made from the available shares of an acquired
 or combined entity's plan shall not be made after the date awards or grants could not
 be under the terms of the acquired or combined entity's plan prior to the acquisition
 or combination, and shall only be made to individuals who were not Service Providers prior
 to such acquisition or combination. Substitute Awards may be granted on such terms and conditions
 as the Administrator deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;5.5. <u>Non-Employee Director Award Limit</u>. Notwithstanding any provision to the contrary in the Plan or in
 any policy of the Company regarding Non-Employee Director compensation, the sum of the grant
 date fair value (determined as of the grant date in accordance with Financial Accounting
 Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of
 all equity-based Awards and the maximum amount that may become payable pursuant to all cash-based
 Awards that may be granted to a Service Provider as compensation for services as a Non-Employee
 Director during any calendar year shall not exceed $1,000,000 for such Service Provider's
 first year of service as a Non-Employee Director and $750,000 for each year thereafter.

**6.**  **<u>Options and Stock Appreciation Rights</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;6.1. <u>General</u>.
 The Administrator, at any time and from time to time, may grant Options or Stock Appreciation
 Rights under the Plan to Service Providers, provided, however, to the extent required to
 avoid accelerated taxation and/or tax penalties under Section 409A, a Service Provider may
 only be granted an Option or Stock Appreciation Right if the Company is an "eligible
 issuer of service recipient stock" within the meaning of Section 409A, with respect
 to such Service Provider. Each Option or Stock Appreciation Right shall be subject to such
 terms and conditions consistent with the Plan as the Administrator may impose from time to
 time, subject to the limitations in this Section 6. Any Option or Stock Appreciation Rights
 granted hereunder will be exercisable according to the terms of the Plan and at such times
 and under such conditions as determined by the Administrator and set forth in the Award Agreement.
 Exercising an Option or Stock Appreciation Right in any manner will decrease the number of
 Shares thereafter available for purchase under the Option or Stock Appreciation Right, by
 the number of Shares as to which the Option or Stock Appreciation Right is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;6.2. <u>Exercise Price</u>. The per share exercise price for Shares to be issued pursuant to exercise of an
 Option or Stock Appreciation Right will be determined by the Administrator; provided, however,
 that to avoid the imposition of taxes under Section 409A, the exercise price per Share shall
 be no less than one hundred percent (100%) of the Fair Market Value per Share on the date
 of grant, subject to Section 5.4. In the case of an Option or Stock Appreciation Right that
 is a Substitute Award, the exercise price for Shares subject to such Option or Stock Appreciation
 Right may be less than the Fair Market Value per Share on the date of grant; provided that
 the exercise price of any Substitute Award shall be determined in accordance with the applicable
 requirements of Code Sections 424 and 409A.

&nbsp;&nbsp;&nbsp;&nbsp;6.3. <u>Exercise Period</u>. Options and Stock Appreciation Rights shall be exercisable at such time or times
 and subject to such terms and conditions as shall be determined by the Administrator; provided,
 however, that no Option or Stock Appreciation Right shall be exercisable later than ten (10)
 years after the date it is granted. No portion of an Option or Stock Appreciation Right which
 is unexercisable at a Participant's Termination of Service shall thereafter become
 exercisable and the portion of an Option or Stock Appreciation Right which is unexercisable
 at a Participant's Termination of Service shall automatically expire on the date of
 such Termination of Service. Options and Stock Appreciation Rights granted to an Employee
 who is a non-exempt employee for purposes of overtime pay under the United States Fair Labor
 Standards Act of 1938 shall not become exercisable earlier than six months after its date
 of grant. Options and Stock Appreciation Rights shall terminate at such earlier times and
 upon such conditions or circumstances as the Administrator shall in its discretion set forth
 in such Award Agreement at the date of grant; provided, however, the Administrator may, in
 its sole discretion, later waive any such condition. If, prior an Option's or Stock
 Appreciation Right's exercise and prior to its termination, a Participant commits an
 act of Cause (to be determined by the Administrator), or violates a Restrictive Covenant,
 the Administrator may terminate the Participant's right to exercise the Option or Stock
 Appreciation Right when it reasonably believes that the Participant may have participated
 in such act or violation.

&nbsp;&nbsp;&nbsp;&nbsp;6.4. <u>Exercise</u>.
 Options and Stock Appreciation Rights may be exercised by delivering to the Company (or such
 other person or entity designated by the Administrator) a notice of exercise, in a form and
 manner the Company approves, which may be written or electronic, signed or authenticated
 by the person authorized to exercise the Option or Stock Appreciation Right, together with,
 as applicable, (a) payment in full of the exercise price for the number of Shares for which
 the Option is exercised in a manner consistent with Section 6.5 and (b) satisfaction in full
 of any withholding obligations for Tax Obligations in a manner specified in Section 12.5.
 The Administrator may, in its discretion, require that any partial exercise of an Option
 or Stock Appreciation Right be with respect to a minimum number of Shares.

&nbsp;&nbsp;&nbsp;&nbsp;6.5. <u>Payment Upon Exercise</u>. To the extent permitted by Applicable Law, the Participant may pay the
 Option exercise price by cash, wire transfer, or check and, if approved by the Administrator,
 as determined in its sole discretion, by the following methods:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.1. surrender
 of other Shares that meet the conditions established by the Administrator to avoid adverse
 accounting consequences to the Company (as determined by the Administrator);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.2. by
 a broker-assisted cashless exercise in accordance with procedures approved by the Administrator,
 whereby payment of the exercise price may be satisfied, in whole or in part, with Shares
 subject to the Option by delivery of an irrevocable direction to a securities broker (on
 a form prescribed by the Administrator) to sell Shares and to deliver all or part of the
 sale proceeds to the Company in payment of the aggregate exercise price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.3. for
 a Nonqualified Option, by delivery of a notice of "net exercise" to the Company,
 pursuant to which the Participant shall surrender Shares then issuable upon the Nonqualified
 Option's exercise valued at their Fair Market Value on the exercise date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.4. such
 other consideration and method of payment for the issuance of Shares to the extent permitted
 by Applicable Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.5. any
 combination of the foregoing methods of payment.

&nbsp;&nbsp;&nbsp;&nbsp;6.6. <u>Incentive Stock Options</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.1. Each
 Option will be designated in the Award Agreement as either an Incentive Stock Option or a
 Nonqualified Option. However, notwithstanding such designation, to the extent that the aggregate
 Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable
 for the first time by the Participant during any calendar year (under all plans of the Company,
 its Parent, or any Subsidiary) exceeds $100,000 (or such other limit established in the Code),
 such Options will be treated as Nonqualified Options. For purposes of this Section 6.6.1,
 Incentive Stock Options will be taken into account in the order in which they were granted.
 The Fair Market Value of the Shares will be determined as of the time the Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.2. In
 the case of an Incentive Stock Option, the exercise price will be determined by the Administrator,
 but shall be no less than one hundred percent (100%) of the Fair Market Value per Share on
 the date of grant. The term of any Incentive Stock Option will be ten (10) years from the
 date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in
 the case of an Incentive Stock Option granted to a Greater Than 10% Shareholder, the term
 of the Incentive Stock Option will be five (5) years from the date of grant or such shorter
 term as may be provided in the Award Agreement and the exercise price shall not be less than
 one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.3. No
 Option shall be treated as an Incentive Stock Option unless this Plan has been approved by
 the shareholders of the Company in a manner intended to comply with the shareholder approval
 requirements of Code Section 422(b)(1), provided that any Option intended to be an Incentive
 Stock Option shall not fail to be effective solely on account of a failure to obtain such
 approval, but rather such Option shall be treated as a Nonqualified Option unless and until
 such approval is obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.4. In
 the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject
 to and comply with such rules as may be prescribed by Code Section 422. If for any reason
 an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify
 as an Incentive Stock Option, then, to the extent of such nonqualification, such Option or
 portion thereof shall be regarded as a Nonqualified Option appropriately granted under this
 Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.5. By
 accepting an Incentive Stock Option, the Participant agrees to give prompt notice to the
 Company of dispositions or other transfers (other than in connection with a Change in Control)
 of Shares acquired under the Option made within the later of (a) two years from the grant
 date of the Option or (b) one year after the transfer of such Shares to the Participant,
 specifying the date of the disposition or other transfer and the amount the Participant realized,
 in cash, other property, or other consideration, in such disposition or transfer. Neither
 the Company nor the Administrator will be liable to a Participant, or any other party, if
 an Incentive Stock Option fails or ceases to qualify as an "incentive stock option"
 under Code Section 422. Any Incentive Stock Option or portion thereof that fails to qualify
 as an "incentive stock option" under Code Section 422 for any reason, will be
 a Nonqualified Option.

**7.**  **<u>Restricted Stock</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;7.1. <u>Generally</u>.
 The Administrator, at any time and from time to time, may grant Restricted Stock to Service
 Providers in such amounts as the Administrator, in its sole discretion, will determine, subject
 to the limitations of this Section 7. Each Award of Restricted Stock will be evidenced by
 an Award Agreement that will specify the Period of Restriction and the applicable restrictions,
 the number of Shares granted, and such other terms and conditions as the Administrator, in
 its sole discretion, will determine. Restricted Stock may be awarded in consideration for
 (i) cash, check, bank draft or money order payable to the Company, (ii) past service, or
 (iii) any other form of legal consideration (including future Service) that may be acceptable
 to the Administrator, in its sole discretion, and permissible under Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;7.2. <u>Restrictions; Voting Rights; Transferability</u>. Unless the Administrator determines otherwise, Restricted
 Stock will be held by the Company as escrow agent until the restrictions on such Restricted
 Stock have lapsed. The Administrator, in its discretion, may accelerate the time at which
 any restrictions will lapse or be removed. During the Period of Restriction, a Participant
 holding Restricted Stock may exercise the voting rights applicable to those restricted Shares,
 unless the Administrator determines otherwise. Restricted Stock may not be sold, transferred,
 pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable
 Period of Restriction.

&nbsp;&nbsp;&nbsp;&nbsp;7.3. <u>Dividends and Other Distributions</u>. Except as provided in the Award Agreement, during the Period
 of Restriction, a Participant holding Restricted Stock will be entitled to receive all dividends
 and other distributions paid with respect to such Restricted Stock. If any such dividends
 or distributions are paid in Shares, such Shares will be subject to the same restrictions
 on transferability and forfeitability as the Restricted Stock with respect to which they
 were paid.

&nbsp;&nbsp;&nbsp;&nbsp;7.4. <u>Return of Restricted Stock to the Company</u>. On the date set forth in the Award Agreement, the
 Restricted Stock for which restrictions have not lapsed will be forfeited and will revert
 to the Company and again will become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;7.5. <u>Section 83(b) Election</u>. If a Participant makes an election under Code Section 83(b) to be taxed
 with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather
 than as of the date or dates upon which such Participant would otherwise be taxable under
 Code Section 83(a), such Participant shall be required to deliver a copy of such election
 to the Company promptly after filing such election with the Internal Revenue Service along
 with proof of the timely filing thereof.

**8.**  **<u>Restricted Stock Units (RSUs)</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;8.1. <u>Generally</u>.
 The Administrator, at any time and from time to time, may grant RSUs under the Plan to Service
 Providers. Each RSU shall be subject to such terms and conditions as are consistent with
 the Plan and as the Administrator may impose from time to time, subject to this Section 8.
 Each Award of RSUs will be evidenced by an Award Agreement that will specify the terms, conditions,
 and restrictions related to the grant, including the number of RSUs and such other terms
 and conditions as the Administrator, in its sole discretion, will determine. A Participant
 holding RSUs will have only the rights of a general unsecured creditor of the Company until
 delivery of Shares, cash, other securities, other property, or a combination of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;8.2. <u>Vesting and Other Terms</u>. The Administrator will set vesting criteria in its discretion, which,
 depending on the extent to which the criteria are met, will determine the number of RSUs
 that will be paid out to the Participant. Upon meeting the applicable vesting criteria, the
 Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding
 the foregoing, at any time after the grant of RSUs, the Administrator, in its sole discretion,
 may reduce or waive any vesting criteria that must be met to receive a payout.

&nbsp;&nbsp;&nbsp;&nbsp;8.3. <u>Form and Timing of Payment</u>. Payment of earned RSUs will be made as soon as practicable after
 the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator,
 in its sole discretion, may settle earned RSUs in Shares, cash, other securities, other property,
 or a combination of the foregoing. If a cash payment is made in lieu of delivering Shares,
 the amount of such payment shall be equal to the fair market value of the Shares as of the
 date on which the restricted period lapsed with respect to such RSUs, less an amount equal
 to any taxes required to be withheld or paid. The Administrator may provide that RSUs will
 be deferred, on a mandatory basis or at the Participant's election, subject to compliance
 with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;8.4. <u>Voting</u>.
 The holders of RSUs shall have no voting rights as the Company's shareholders.

**9.**  **<u>Performance Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;9.1. <u>Generally</u>.
 The Administrator shall have the authority to designate any Award described in Sections 6
 through 8 of the Plan as a Performance Award. Additionally, the Administrator shall have
 the authority to make an award of a cash bonus to any Participant and designate such Award
 as a Performance Award.

&nbsp;&nbsp;&nbsp;&nbsp;9.2. <u>Discretion of Administrator</u>. The Administrator shall have the discretion to establish the terms,
 conditions, and restrictions of any Performance Award. For each performance period, the Administrator
 shall have the sole authority to select the length of such performance period, the types
 of Performance Awards to be granted, the performance criteria that will be used to establish
 the performance goals, and the level(s) of performance which shall result in a Performance
 Award being earned.

&nbsp;&nbsp;&nbsp;&nbsp;9.3. <u>Performance Criteria</u>. The Administrator may establish performance-based conditions for an Award as
 specified in the Award Agreement, which may be based on the attainment of specific levels
 of performance of the Company (and/or one or more Subsidiaries, divisions, business segments
 or operational units, or any combination of the foregoing) and may include, without limitation,
 any of the following: (i) net earnings or net income (before or after taxes); (ii) basic
 or diluted earnings per share (before or after taxes); (iii) revenue or revenue growth (measured
 on a net or gross basis); (iv) gross profit or gross profit growth; (v) operating profit
 (before or after taxes); (vi) return measures (including, but not limited to, return on assets,
 capital, invested capital, equity, or sales); (vii) cash flow (including, but not limited
 to, operating cash flow, free cash flow, net cash provided by operations and cash flow return
 on capital); (viii) financing and other capital raising transactions (including, but not
 limited to, sales of the Company's equity or debt securities); (ix) earnings before
 or after taxes, interest, depreciation and/or amortization; (x) gross or operating margins;
 (xi) productivity ratios; (xii) share price (including, but not limited to, growth measures
 and total shareholder return); (xiii) expense targets; (xiv) margins; (xv) productivity and
 operating efficiencies; (xvi) customer satisfaction; (xvii) customer growth; (xviii) working
 capital targets; (xix) measures of economic value added; (xx) inventory control; (xxi) enterprise
 value; (xxii) sales; (xxiii) debt levels and net debt; (xxiv) combined ratio; (xxv) timely
 launch of new facilities; (xxvi) client retention; (xxvii) employee retention; (xxviii) timely
 completion of new product rollouts; (xxix) cost targets; (xxx) reductions and savings; (xxxi)
 productivity and efficiencies; (xxxii) strategic partnerships or transactions; and (xxxiii)
 personal targets, goals or completion of projects. Any one or more of the performance criteria
 may be used on an absolute or relative basis to measure the performance of the Company and/or
 one or more Subsidiaries as a whole or any business unit(s) of the Company and/or one or
 more Subsidiaries or any combination thereof, as the Administrator may deem appropriate,
 or any of the above performance criteria may be compared to the performance of a selected
 group of comparison or peer companies, or a published or special index that the Administrator,
 in its sole discretion, deems appropriate, or as compared to various stock market indices.
 The Administrator also has the authority to provide for accelerated vesting of any Award
 based on the achievement of performance criteria specified in this paragraph. Any performance
 criteria that are financial metrics, may be determined in accordance with GAAP or may be
 adjusted when established to include or exclude any items otherwise includable or excludable
 under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;9.4. <u>Modification of Performance Goals</u>. At any time, the Administrator may adjust or modify the calculation
 of a performance goal for a performance period, to appropriately reflect any circumstance
 or event that occurs during a performance period and that in the Administrator's sole
 discretion, warrants adjustment or modification. Adjustments the Administrator may make include
 but are not limited to the following: (i) asset write-downs; (ii) litigation or claim judgments
 or settlements; (iii) the effect of changes in tax laws, accounting principles, or other
 laws or regulatory rules affecting reported results; (iv) any reorganization and restructuring
 programs; (v) unusual and/or infrequently occurring items; (vi) acquisitions or divestitures;
 (vii) discontinued operations; (viii) any other specific unusual or infrequently occurring
 or non-recurring events, or objectively determinable category thereof; (ix) foreign exchange
 gains and losses; and (x) a change in the Company's fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;9.5. <u>Terms and Conditions to Payment</u>. Except as otherwise provided in an Award Agreement, a Participant
 must be employed by the Company on the last day of a performance period to be eligible to
 vest and receive Shares, cash, or other consideration in respect of a Performance Award for
 such performance period. A Participant shall be eligible to receive payment in respect of
 a Performance Award only to the extent that the performance goals for such period are achieved
 and any other vesting conditions specified in the Participant's Award Agreement are
 satisfied. Following the completion of a performance period, the Administrator shall determine
 whether, and to what extent, the performance goals for the performance period have been achieved
 and determine the number of Shares, cash or other consideration that will be settled pursuant
 to Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;9.6. <u>Timing of Award Payments</u>. Except as provided in an Award agreement, Performance Awards granted
 for a performance period shall be paid to Participants as soon as administratively practicable
 following the Administrator's determination in accordance with Section 9.5.

**10.**  **<u>Other Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;10.1. <u>General</u>.
 The Administrator may grant Dividend Equivalents or Other Stock or Cash Based Awards, to
 one or more Service Providers, in such amounts and subject to such terms and conditions as
 are consistent with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;10.2. <u>Dividend Equivalents</u>. The Administrator may provide that any Award, other than an Option or Stock
 Appreciation Right, may provide a Participant with the right to receive Dividend Equivalents.
 Dividend Equivalents may be paid currently or credited to an account for the Participant,
 settled in cash or Shares and subject to the same restrictions on transferability and forfeitability
 as the Award with respect to which the Dividend Equivalents are granted. The payment of Dividend
 Equivalents shall be specified in the applicable Award Agreement and shall in all cases be
 subject to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;10.3. <u>Other Stock or Cash Based Awards</u>. Other Stock-Based Awards may be granted either alone, in
 addition to, or in tandem with, other Awards granted under the Plan and/or cash awards made
 outside of the Plan. The Administrator shall have authority to determine the Service Providers
 to whom and the time or times at which Other Stock-Based Awards shall be made, the amount
 of such Other Stock-Based Awards, and all other conditions of the Other Stock-Based Awards
 including any dividend and/or voting rights. The Administrator may grant Cash Awards in such
 amounts and subject to such performance or other vesting criteria and terms and conditions
 as the Administrator may determine. Cash Awards shall be evidenced in such form as the Administrator
 may determine.

**11.**  **<u>Adjustments; Change in Control</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;11.1. <u>Adjustments</u>.
 In the event that any dividend or other distribution (whether in the form of cash, Shares,
 other securities, or other property), recapitalization, share split, reverse share split,
 reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange
 of Shares or other securities of the Company, or other change in the corporate structure
 of the Company affecting the Shares occurs such that an adjustment is determined by the Administrator
 (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of
 the benefits or potential benefits intended to be made available under the Plan, then the
 Administrator shall, in such manner as it may deem equitable, adjust (i) the number and class
 of Shares which may be delivered under the Plan (or number and kind of other securities or
 other property); (ii) the number, class and price (including the exercise or strike price
 of Options and SARs) of Shares subject to outstanding Awards, (iii) any applicable performance
 criteria, performance period, and other terms and conditions of outstanding Performance Awards,
 and (iv) the numerical limits in Section 5. Notwithstanding the preceding, the number of
 Shares subject to any Award always shall be a whole number.

&nbsp;&nbsp;&nbsp;&nbsp;11.2. <u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company,
 the Administrator will notify each Participant as soon as practicable prior to the effective
 date of such proposed transaction. The Administrator in its discretion may provide for a
 Participant to have the right to exercise an Award, to the extent applicable, until ten (10)
 days prior to such transaction as to all of the Shares covered thereby, including Shares
 as to which the Award would not be vested or otherwise be exercisable. In addition, the Administrator
 may provide that any Company repurchase option or forfeiture rights applicable to any Award
 shall lapse one hundred percent (100%), and that any Award vesting shall accelerate one hundred
 percent (100%), provided the proposed dissolution or liquidation takes place at the time
 and in the manner contemplated. To the extent it has not been previously vested and, if applicable,
 exercised, an Award will terminate immediately prior to the consummation of such proposed
 action.

&nbsp;&nbsp;&nbsp;&nbsp;11.3. <u>Change in Control</u>. In the event of a Change in Control, any outstanding Award shall be treated
 in accordance with the applicable Award Agreement. If the applicable Award Agreement does
 not specify the treatment of the Award in a Change in Control, the Award shall be treated
 as determined by the Administrator in its sole discretion, and the Administrator shall not
 be obligated to treat all outstanding Awards similarly.

**12.**  **<u>Provisions Applicable to Awards</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;12.1. <u>Conditions Upon Issuance of Shares</u>. Shares will not be issued pursuant to an Award unless the exercise
 of such Award and the issuance and delivery of such Shares will comply with Applicable Law
 and will be further subject to the approval of counsel for the Company with respect to such
 compliance. As a condition to the exercise or receipt of an Award, the Company may require
 the person exercising or receiving such Award to represent and warrant at the time of any
 such exercise or receipt that the Shares are being purchased only for investment and without
 any present intention to sell or distribute such Shares if, in the opinion of counsel for
 the Company, such a representation is required or desirable.

&nbsp;&nbsp;&nbsp;&nbsp;12.2. <u>Transferability</u>.
 No Award may be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily
 or by operation of law, except by will or the laws of descent and distribution. Each Participant
 may file with the Administrator a written designation of one or more persons as the beneficiary(ies)
 who shall be entitled to receive the amounts payable with respect to an Award, if any, due
 under this Plan upon his or her death. A Participant may, from time to time, revoke or change
 his or her beneficiary designation without the consent of any prior beneficiary by filing
 a new designation with the Administrator. The last such designation filed with the Administrator
 shall be controlling; provided, however, that no designation, or change or revocation thereof,
 shall be effective unless received by the Administrator prior to the Participant's
 death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary
 designation is filed by a Participant, the beneficiary shall be deemed to be his or her spouse
 or, if the Participant is unmarried at the time of death, his or her estate. Upon the occurrence
 of a Participant's divorce (as evidenced by a final order or decree of divorce), any
 spousal designation previously given by such Participant shall automatically terminate.

&nbsp;&nbsp;&nbsp;&nbsp;12.3. <u>Documentation</u>.
 All Awards made under the Plan shall be made pursuant to an Award Agreement. The Administrator
 may, in its sole discretion, determine the terms and conditions set forth in each Award Agreement,
 provided that all such terms and conditions are consistent with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;12.4. <u>Discretion</u>.
 All Awards made pursuant to the Plan may be made alone or in addition to or in conjunction
 with any other Award. The terms of each Award are not required to be identical, and the Administrator
 does not have to treat Participants or Awards uniformly.

&nbsp;&nbsp;&nbsp;&nbsp;12.5. <u>Withholding</u>.
 A Participant shall be required to pay to the Company or any Affiliate, or the Company or
 any Affiliate shall have the right and is hereby authorized to withhold, from any cash, Shares,
 other securities or other property deliverable under any Award or from any compensation or
 other amounts owing to a Participant, the amount (in cash, Shares, other securities or other
 property) of any required withholding taxes, including any Tax Obligations, in respect of
 an Award, its exercise, or any payment or transfer under an Award or under this Plan and
 to take such other action as may be necessary in the opinion of the Administrator or the
 Company to satisfy all obligations for the payment of such withholding and taxes. In addition,
 the Administrator, in its discretion, may make arrangements mutually agreeable with a Participant
 who is not an employee of the Company or an Affiliate to facilitate the payment of applicable
 income and self-employment taxes. Without limitation, the Administrator may, in its sole
 discretion, permit a Participant to satisfy, in whole or in part, the foregoing withholding
 liability by (A) the delivery of Shares (which are not subject to any pledge or other security
 interest) owned by the Participant having a fair market value equal to such withholding liability,
 (B) having the Company withhold from the number of Shares otherwise issuable or deliverable
 pursuant to the exercise or settlement of the Award a number of shares with a fair market
 value equal to such withholding liability, (C) deducting an amount sufficient to satisfy
 such withholding obligation from any payment of any kind otherwise due to a Participant,
 (D) accepting a payment from the Participant in cash, by wire transfer of immediately available
 funds, or by check made payable to the order of the Company, or (E) if there is a public
 market for Shares at the time the withholding obligation for Tax Obligations is to be satisfied,
 selling Shares issued pursuant to the Award creating the withholding obligation. The amount
 withheld pursuant to any of the foregoing payment forms shall be determined by the Company
 and may be up to (but not in excess of) the aggregate amount of such obligations based on
 the maximum statutory withholding rates in the Participant's jurisdiction for all Tax
 Obligations that are applicable to such taxable income.

&nbsp;&nbsp;&nbsp;&nbsp;12.6. <u>Award Modification; Repricing</u>. The Administrator may at any time, and from time to time, amend
 the terms of any one or more Awards without the consent of any Participant; provided, however,
 that the Administrator may not make any amendment which would otherwise constitute an impairment
 of the material rights under any Award unless the Participant consents to such impairment
 in writing. Notwithstanding anything to the contrary in Section 4 and except for an adjustment
 pursuant to Section 11 or a repricing approved by shareholders, in no case may the Administrator
 (i) amend an outstanding Option or Stock Appreciation Right to reduce the exercise price
 of the Award, (ii) cancel, exchange, or surrender an outstanding Option or Stock Appreciation
 Right in exchange for cash or other awards for the purpose of repricing the Award, or (iii)
 cancel, exchange, or surrender an outstanding Option or Stock Appreciation Right in exchange
 for an Option or Stock Appreciation Right with an exercise price that is less than the exercise
 price of the original Award.

&nbsp;&nbsp;&nbsp;&nbsp;12.7. <u>Acceleration</u>.
 The Administrator may at any time provide that any Award will become immediately vested and
 fully or partially exercisable, free of some or all restrictions or conditions, or otherwise
 fully or partially realizable, in each case, subject to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;12.8. <u>Fractional Shares</u>. No fractional Shares shall be issued or delivered pursuant to the Plan. The Administrator
 shall determine whether cash, additional Awards, or other property shall be issued or paid
 in lieu of fractional Shares or whether any fractional Shares should be rounded, forfeited,
 or otherwise eliminated.

**13.**  **<u>Section 409A</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;13.1. <u>General</u>.
 The Plan is intended to comply with Section 409A to the extent subject thereto, and shall
 be interpreted and administered to be in compliance therewith. Any payments described in
 the Plan that are due within the "short-term deferral period" (as defined in
 Section 409A) shall not be treated as deferred compensation unless Applicable Law requires
 otherwise. Notwithstanding anything in the Plan or any Award Agreement to the contrary, the
 Administrator may, without a Participant's consent, amend this Plan or any Award, adopt
 policies and procedures, make corrective filings, or take any other actions (including amendments
 and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment
 of Awards, including exempting the Plan and Awards from Section 409A or complying with 409A.

&nbsp;&nbsp;&nbsp;&nbsp;13.2. <u>Payments to Specified Employees</u>. Notwithstanding anything in the Plan or an Award Agreement to
 the contrary, any payment or settlement made pursuant to an Award to a "specified employee"
 (as defined by Section 409A and as determined by the Administrator) due to such Participant's
 "separation from service" (as defined by Section 409A) will, to the extent necessary
 to avoid adverse tax consequences to the Participant, be delayed for the six-month period
 immediately following such "separation from service (or, if earlier, on the "specified
 employee's" death) and will instead be paid on the day immediately following
 such six-month period or as soon as practicable thereafter. Any delayed payment under this
 Section 13.2 shall not accrue interest during the delay. All payments of "nonqualified
 deferred compensation" (as defined by Section 409A) that are scheduled to be paid more
 than six months following a "specified employee's" termination, shall be
 made on their regular schedule.

&nbsp;&nbsp;&nbsp;&nbsp;13.3. <u>Change in Control</u>. If any Award is or becomes subject to Code Section 409A and if payment of
 such Award would be accelerated or otherwise triggered under a Change in Control, then the
 definition of Change in Control shall be deemed modified, only to the extent necessary to
 avoid the imposition of an excise tax under Code Section 409A, to mean a "change in
 control event" as such term is defined for purposes of Code Section 409A.

**14.**  **<u>Amendment of the Plan</u>** 

The Board may at any time amend, alter, suspend, or terminate the Plan. The Company may obtain shareholder approval of any Plan amendment to the extent necessary or, as determined by the Administrator in its sole discretion, desirable to comply with Applicable Law, including any amendment that (i) increases the number of Shares available for issuance under the Plan or (ii) changes the persons or class of persons eligible to receive Awards. No amendment, alteration, suspension, or termination of the Plan will materially impair the rights of any Participant with respect to outstanding Awards, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

**15.**  **<u>Foreign Participants</u>** 

The Administrator may from time to time establish sub-plans under the Plan for purposes of satisfying securities, tax, or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Administrator determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed.

**16.**  **<u>Clawbacks</u>** 

Notwithstanding any other provisions in the Plan, the Administrator may cancel any Award, require reimbursement of any Award, and effect any other right of recoupment of equity or other compensation provided under the Plan in accordance with Company policies, including the Company's Clawback Policies. A Participant may be required to repay to the Company previously paid compensation, whether provided pursuant to the Plan or an Award Agreement, in accordance with the Clawback Policies. By accepting an Award, the Participant agrees to be bound by the Clawback Policies and to adhere to the Clawback Policies to the extent required by Applicable Law.

**17.**  **<u>No Right to Continued Service</u>** 

Nothing in the Plan or any instrument executed or Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) a Participant's employment with or without notice and with or without Cause, or (ii) a Participant's service as a Consultant or Director.

**18.**  **<u>No Rights as a Shareholder</u>** 

Except as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any Shares subject to such Award unless and until such Participant has satisfied all requirements for exercise of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities, or other property) or distributions of other rights for which the record date is prior to the date such Share certificates are issued, except as provided in Section 11.

**19.**  **<u>Miscellaneous</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;19.1. <u>Limitations on Liability</u>. Neither the Company, nor its Parent, nor any Subsidiary, nor any person
 serving as Administrator shall have any liability to a Participant in the event an Award
 held by the Participant fails to achieve its intended characterization under the tax, securities,
 or other applicable laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;19.2. <u>Inability to Obtain Authority</u>. The inability of the Company to obtain authority from any regulatory
 body having jurisdiction, which authority is deemed by the Company's counsel to be
 necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company
 of any liability in respect of the failure to issue or sell such Shares as to which such
 requisite authority will not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;19.3. <u>Severability</u>.
 Notwithstanding any contrary provision of the Plan or an Award Agreement, if any one or more
 of the provisions (or any part thereof) of this Plan or an Award Agreement shall be held
 invalid, illegal, or unenforceable in any respect, such provision shall be modified so as
 to make it valid, legal, and enforceable, and the validity, legality, and enforceability
 of the remaining provisions (or any part thereof) of the Plan or Award Agreement, as applicable,
 shall not in any way be affected or impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;19.4. <u>Governing Documents</u>. The Plan and each Award Agreement evidencing an Award are intended to be read
 together, and together, set forth the complete terms and conditions of each Award. To the
 extent of any contradiction between the Plan and any Award Agreement or other written agreement
 between a Participant and the Company, the Plan will govern unless the Award Agreement or
 other written agreement was approved by the Administrator and expressly provides that a specific
 provision of the Plan will not apply.

&nbsp;&nbsp;&nbsp;&nbsp;19.5. <u>Governing Law</u>. The Plan will be governed by and construed in accordance with the internal laws
 of the State of Delaware, without reference to any choice of law principles.

&nbsp;&nbsp;&nbsp;&nbsp;19.6. <u>Waiver of Jury Trial</u>. EACH PARTICIPANT WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT
 OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THE PLAN.

&nbsp;&nbsp;&nbsp;&nbsp;19.7. <u>Waiver of Claims</u>. Each Participant of an Award recognizes and agrees that before being selected
 by the Administrator to receive an Award, the Participant has no right to any benefits under
 the Plan. Accordingly, in consideration of the Participant's receipt of any Award hereunder,
 the Participant expressly waives any right to contest the amount of any Award, the terms
 of any Award Agreement, any determination, action, or omission hereunder or under any Award
 Agreement by the Administrator, the Company, or the Board, or any amendment to the Plan or
 any Award Agreement (other than an amendment to the Plan or an Award Agreement to which his
 or her consent is expressly required). Nothing contained in this Plan, and no action taken
 pursuant to its provisions, will create or be construed to create a trust of any kind or
 a fiduciary relationship between the Company and any Participant. The Plan is not intended
 to be subject to ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;19.8. <u>No Third-Party Beneficiaries</u>. Except as expressly provided in an Award Agreement, neither
 the Plan nor any Award Agreement will confer on any person other than the Company and the
 Participant of any Award any rights or remedies thereunder. The provisions of Section 4.3
 will inure to the benefit of the estate, beneficiaries, and legatees of any member of the
 Administrator and the Board, and any person to whom the Administrator or the Board delegates
 its powers, responsibilities, or duties in writing.

&nbsp;&nbsp;&nbsp;&nbsp;19.9. <u>Data Privacy</u>. As a condition for receiving any Award, each Participant explicitly and unambiguously
 consents to the collection, use, and transfer, in any form, of personal data as described
 in this section by and among the Company and its Subsidiaries, Affiliates, and their agents
 exclusively for implementing, administering, and managing the Participant's participation
 in the Plan. The Company, its Subsidiaries, and Affiliates may hold certain personal information
 about a Participant, including the Participant's name, address, telephone number, birthday,
 social security or other identification number, salary, nationality, job title(s), any Shares
 held in the Company, its Subsidiaries, and Affiliates, and Award details to implement, manage,
 and administer the Plan and Awards (the "  ***Data*** "). The Company, its
 Subsidiaries, and Affiliates may transfer the Data amongst themselves as necessary to implement,
 administer, and manage a Participant's participation in the Plan, and the Company,
 its Subsidiaries, and Affiliates may transfer the Data to third parties assisting the Company
 with Plan implementation, administration, and management. These third-party recipients may
 be located in the United States or elsewhere, and the applicable location may be subject
 to different data privacy laws than the Participant's home country. By accepting an
 Award, each Participant authorizes each recipient to receive, possess, use, retain, and transfer
 the Data, in electronic or other form, to implement, administer, and manage the Participant's
 participation in the Plan, including any required Data transfer to a broker or other thirty
 party with whom the Company or the Participant may elect to deposit any Shares. The Data
 related to a Participant will be held only as long as necessary to implement, administer,
 and manage the Participant's participation in the Plan. A Participant may, at any time,
 view the Data that the Company holds regarding such Participant, request additional information
 about the storage and processing of the Data regarding such Participant, recommend any necessary
 corrections to the Data regarding the Participant, or refuse or withdraw the consents in
 this section in writing, without cost, by contacting the local human resources representative.
 The Company may cancel the Participant's ability to participate in the Plan and, in
 the Administrator's discretion, the Participant may forfeit any outstanding Awards
 if the Participant refuses or withdraws the consents in this section.

&nbsp;&nbsp;&nbsp;&nbsp;19.10. <u>Titles and Headings</u>. The titles and headings in the Plan are for purposes of convenience only
 and are not intended to define or limit the construction of the provisions hereof.

&nbsp;&nbsp;&nbsp;&nbsp;19.11. <u>Intended to Comply with Applicable Law</u>. The Plan and all Awards granted hereunder are intended
 to fully comply with Applicable Law. All administrative actions, determinations, and exercises
 of discretion by the Administrator shall comply with Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;19.12. <u>Relationship to Other Benefits</u>. No payment pursuant to the Plan shall be taken into account in determining
 any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare,
 or other benefit plan of the Company or any Affiliate except to the extent otherwise expressly
 provided in writing in such other plan or agreement thereunder.

**20.**  **<u>Shareholder Approval</u>** 

The Plan will be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such shareholder approval will be obtained in the manner and to the degree required under Applicable Law. All Awards hereunder are contingent on approval of the Plan by the Company's shareholders. Notwithstanding any other provision of this Plan, if the Plan is not approved by the Company's shareholders within twelve (12) months after the date the Plan is adopted, the Plan and any Awards hereunder shall be automatically terminated.

**21.**  **<u>Effective Date</u>** 

The Plan was adopted by the Board on ________________ ___, 2026, and shall become effective on the date that it is approved by the Company's stockholders (the "***Effective Date***").

Unless terminated earlier under Section 14, this Plan shall terminate on ________ ___, 2036, ten (10) years after the Effective Date.

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