# EDGAR Filing Document

**Accession Number:** 0001979610
**File Stem:** 0001731122-26-000476
**Filing Date:** 2026-3
**Character Count:** 151227
**Document Hash:** 801ccd67194efa361d84e0066b89c719
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-26-000476.hdr.sgml**: 20260324

**ACCESSION NUMBER**: 0001731122-26-000476

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 5

**CONFORMED PERIOD OF REPORT**: 20260324

**FILED AS OF DATE**: 20260324

**DATE AS OF CHANGE**: 20260324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WF International Ltd.
- **CENTRAL INDEX KEY:** 0001979610
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42452
- **FILM NUMBER:** 26787261

**BUSINESS ADDRESS:**
- **STREET 1:** NO. 1110 11TH FL
- **STREET 2:** UNIT 1 BLDG 7 NO. 477 WANXING RD
- **CITY:** CHENGDU
- **STATE:** F4
- **ZIP:** 000000
- **BUSINESS PHONE:** 8602886210882

**MAIL ADDRESS:**
- **STREET 1:** NO. 1110 11TH FL
- **STREET 2:** UNIT 1 BLDG 7 NO. 477 WANXING RD
- **CITY:** CHENGDU
- **STATE:** F4
- **ZIP:** 000000

**<br> UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16<br> UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of March 2026**

**Commission File Number: 001-42452**

**<u>WF International Limited</u>**

**(Exact name of registrant as specified in its charter)**

**No. 1110, 11th Floor, Unit 1, Building 7, No. 477, Wanxing Road**

**Chengdu, Sichuan, China, 610041**

**(Address of principal executive offices)**

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

In connection with an annual general meeting of shareholders (the "***Meeting***") of WF International Limited, a Cayman Islands company (the "***Company***"), the Company hereby furnishes the notice and proxy statement of the Meeting and the form of proxy card as Exhibits 99.1 and 99.2 hereto, respectively.

**Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit No. | Document |
| 99.1 | [Notice and Proxy Statement of the Meeting, dated March 24, 2026, to be mailed to shareholders of the Company in connection with the Meeting](e7485_ex99-1.htm) |
| 99.2 | [Form of Proxy Card to be mailed to shareholders of the Company for use in connection with the Meeting](e7485_ex99-2.htm) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| **WF International Limited** | **WF International Limited** |
| By: | /s/ *Ke Chen* |
|  | Ke Chen<br> Chief Executive Officer |

---

Dated: March 24, 2026

## Exhibit 99.1

**Exhibit 99.1**

**WF INTERNATIONAL LIMITED**

(incorporated in the Cayman Islands with limited liability)<br>

**NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS**

**NOTICE IS HEREBY GIVEN THAT** an annual general meeting of shareholders (the "***Meeting***") of WF International Limited (the "***Company***") will be held on April 30, 2026 at 9:30 a.m., Beijing time (April 29, 2026 at 9:30 p.m., Eastern Time), at No. 1110, 11th Floor, Unit 1, Building 7, No. 477, Wanxing Road, Chengdu, Sichuan, China, 610041, the People's Republic of China, for the purpose of considering and voting upon the following proposals:

1. To approve, by ordinary resolution, the re-election of each of the following nominees as a director of the Company to hold office until the next annual general meeting of the Company and until their successors are elected and duly qualified, or until the office of such directors are otherwise vacated in accordance with the articles of association of the Company: Ni Jiang, Ke Chen, Siqi Chen, Xiaoyuan Zhang, and Trent D. Davis;

2. To approve, by ordinary resolution, (i) a consolidation of every 10 issued
and unissued ordinary shares of par value US$0.000001 each and every 10 issued and unissued preference shares of par value US$0.000001
each into one ordinary share of par value US$0.00001 and one preference share of par value US$0.00001, respectively, so that upon completion
of such share consolidation, the authorized share capital of the Company shall be US$50,000 divided into 5,000,000,000 shares of a par
value of US$0.00001 each, comprising 4,900,000,000 ordinary shares of a par value of US$0.00001 each and 100,000,000 preference shares
of a par value of US$0.00001 each (the "  ***First Share Consolidation*** "); (ii) subsequent to the First Share Consolidation,
a second consolidation of every five resulting ordinary shares of par value of US$0.00001 each and every five resulting preference shares
of par value of US$0.00001 each into one ordinary share of par value of US$0.00005 and one preference share of par value of US$0.00005,
respectively, so that upon completion of such share consolidation, the authorized share capital of the Company shall be US$50,000 divided
into 1,000,000,000 shares of a par value of US$0.00005 each, comprising 980,000,000 ordinary shares of a par value of US$0.00005 each
and 20,000,000 preference shares of a par value of US$0.00005 each (the "  ***Second Share Consolidation*** "); and (iii)
subsequent to the Second Share Consolidation, a further consolidation of every five resulting ordinary shares of par value of US$0.00005
each and every five resulting preference shares of par value of US$0.00005 each into one ordinary share of par value of US$0.00025 and
one preference share of par value of US$0.00025, respectively; so that upon completion of such share consolidation, the authorized share
capital of the Company shall be US$50,000 divided into 200,000,000 shares of a par value of US$0.00025 each, comprising 196,000,000 ordinary
shares of a par value of US$0.00025 each and 4,000,000 preference shares of a par value of US$0.00025 each, in each case, the board of
directors of the Company (the "  ***Board of Directors***") shall have the absolute discretion to determine when each
such share consolidation shall be implemented;

3. To approve, by ordinary resolution, the adoption of the WF International Limited 2026 Equity Incentive Plan;

4. To ratify, by ordinary resolution, the appointment
 of ZH CPA, LLC as auditor of the Company for the fiscal year ending September 30, 2026;

5. To approve, by ordinary resolution, the adjournment
 of the Meeting, if necessary or appropriate, to solicit additional proxies in the event that there are insufficient votes at the time
 of the Meeting to approve any of the foregoing proposals.

The foregoing items of business are more fully described in the proxy statement.

The Board of Directors has fixed the close of business on March 23, 2026 as the record date (the "***Record Date***") for determining the shareholders entitled to receive notice of and to vote at the Meeting or any adjournment thereof. Only shareholders of the Company on the Record Date are entitled to receive notice of and to vote at the Meeting or any adjournment thereof.

Shareholders may obtain a copy of the proxy materials from the Company's website at https://wf.international/ or by submitting a request to ir@wf-cdintel.com. The notice of the Meeting, the accompanying proxy statement, and the proxy card will be made available to shareholders on or about March 24, 2026. The proxy materials contain instructions on how to access this proxy statement online at: *www.proxyvote.com* and how to submit your proxy to vote via the internet, telephone and/or mail.

**Whether or not you plan to participate in this Meeting, your vote is very important and we encourage you to vote promptly. After reading the accompanying proxy statement, please promptly mark, sign and date the enclosed proxy card and return it by following the instructions on the proxy card or voting instruction card or vote by telephone or by Internet. If you attend the Meeting, you will have the right to revoke the proxy and vote your shares. If you hold your shares through an account with a brokerage firm, bank, or other nominee, please follow the instructions you receive from your brokerage firm, bank, or other nominee to vote your shares.**

By Order of the Board of Directors,

---

| |
|:---|
| /s/ Ni Jiang |
| Ni Jiang |
| Chairwoman of the Board of Directors |

---

March 24, 2026

**WF INTERNATIONAL LIMITED**

**ANNUAL GENERAL MEETING OF SHAREHOLDERS<br> April 30, 2026, Beijing Time**

**(April 29, 2026, Eastern Time)**

**PROXY STATEMENT**

The board of directors (the "***Board of Directors***") of WF International Limited (the "***Company***") is soliciting proxies for the annual general meeting of shareholders (the "***Meeting***") of the Company to be held on April 30, 2026, at 9:30 a.m., Beijing Time (April 29, 2026, at 9:30 p.m. Eastern Time), or any adjournment thereof. The Meeting will be held at No. 1110, 11th Floor, Unit 1, Building 7, No. 477, Wanxing Road, Chengdu, Sichuan, China 610041. You are requested to confirm your attendance, whether in person or online, at least two business days in advance of the Meeting by contacting our CEO Ke Chen at +86 (28) 85138158 or at ir@wf-cdintel.com.

Only shareholders of the Company of record at the close of business on March 23, 2026 (the "***Record Date***") are entitled to attend and vote at the Meeting or at any adjournment thereof. One or more shareholders holding one-third of the shares of the Company in issue present in person (or in the case of a corporation, by its duly authorized representative) or by proxy at the meeting shall be a quorum for all purposes.

It is anticipated that on or about March 24, 2026, the Company will commence mailing to all shareholders as of the Record Date, this proxy statement and the enclosed proxy card. These proxy materials contain instructions on how to access this proxy statement online at: *www.proxyvote.com*, and how to submit your proxy to vote via the internet, telephone and/or mail.

**IMPORTANT:** Please mark, date, and sign the enclosed proxy card and promptly return it in the accompanying postage-paid envelope or vote by telephone or by Internet to assure that your shares are represented at the Meeting.

**PROPOSALS TO BE VOTED ON**

At the Meeting, the following proposals will be considered and voted on:

Proposal No. 1: To approve, by ordinary resolution, that the re-election of each of Ni Jiang, Ke Chen, Siqi Chen, Xiaoyuan Zhang, and Trent D. Davis as a director of the Company to hold office until the next annual general meeting of the Company and until their successors are elected and duly qualified, or until the office of such directors are otherwise vacated in accordance with the articles of association of the Company.

Proposal No. 2: To approve, by ordinary resolution, the Share Consolidations, being: (i) the First Share Consolidation, a consolidation of every 10 issued and unissued ordinary shares of par value US$0.000001 each and every 10 issued and unissued preference shares of par value US$0.000001 each into one ordinary share of par value US$0.00001 and one preference share of par value US$0.00001, respectively, so that upon completion of such share consolidation, the authorized share capital of the Company shall be US$50,000 divided into 5,000,000,000 shares of a par value of US$0.00001 each, comprising 4,900,000,000 ordinary shares of a par value of US$0.00001 each and 100,000,000 preference shares of a par value of US$0.00001 each; (ii) subsequent to the First Share Consolidation, the Second Share Consolidation, a consolidation of every five resulting ordinary shares of par value of US$0.00001 each and every five resulting preference shares of par value of US$0.00001 each into one ordinary share of par value of US$0.00005 and one preference share of par value of US$0.00005, respectively, so that upon completion of such share consolidation, the authorized share capital of the Company shall be US$50,000 divided into 100,000,000 shares of a par value of US$0.00005 each, comprising 98,000,000 ordinary shares of a par value of US$0.00005 each and 20,000,000 preference shares of a par value of US$0.00005 each ; and (iii) subsequent to the Second Share Consolidation, the Third Share Consolidation, a further consolidation of every five resulting ordinary shares of par value of US$0.00005 each and every five resulting preference shares of par value of US$0.00005 each into one ordinary share of par value of US$0.00025 and one preference share of par value of US$0.00025, respectively; so that upon completion of such share consolidation, the authorized share capital of the Company shall be US$50,000 divided into 200,000,000 shares of a par value of US$0.00025 each, comprising 196,000,000 ordinary shares of a par value of US$0.00025 each and 4,000,000 preference shares of a par value of US$0.00025 each, with no fractional shares to be issued and all fractional shares resulting from the Share Consolidations to be rounded up to the next whole number, and in each case, the Board of Directors shall have the absolute discretion to determine when each such share consolidation shall be implemented.

Proposal No. 3: To approve, by ordinary resolution, the adoption of the WF International Limited 2026 Equity Incentive Plan.

Proposal No. 4: To ratify, by ordinary resolution, that the appointment of ZH CPA, LLC as the auditor of the Company for the fiscal year ending September 30, 2026.

Proposal No. 5: To approve, by ordinary resolution, the adjournment of the Meeting, if necessary or appropriate, to solicit additional proxies in the event that there are insufficient votes at the time of the Meeting to approve any of the foregoing proposals.

**The Board of Directors recommends a vote "FOR" each of the director nominees and each of the Proposals No. 2-5.**

**VOTING PROCEDURE FOR SHAREHOLDERS**

Shareholders entitled to vote at the Meeting may do so either in person or by proxy. A proxy need not be a shareholder of the Company. Those shareholders who are unable to attend the Meeting are requested to read, complete, sign, date, and return the attached proxy card in accordance with the instructions set out therein. Whichever method you select to transmit your instructions, the proxy holders will vote your shares in accordance with those instructions. If no specific instructions are given, the shares will be voted in accordance with the recommendation of our Board and as the proxy holders may determine in their discretion with respect to any other matters that properly come before the meeting.

A proxy card is enclosed with this proxy statement. It contains important instructions about completing and giving it to the Company. You must ensure that your completed and signed proxy card, and any power of attorney or other authority (if any) under which it is signed, is deposited in accordance with the instructions set out therein. Proxy cards received after the time set out therein may be disregarded.

Most shareholders do not own shares registered directly in their name, but rather are "beneficial holders" of shares held in a stock brokerage account or by a bank or other nominee (that is, shares held "in street name"). If your shares are held in a stock brokerage account or by a bank or other nominee, you are considered the "beneficial owner" of shares held in "street name," and your broker or nominee is considered the "shareholder of record" with respect to those shares. Your broker or nominee should be forwarding these proxy materials to you. As the beneficial owner, you have the right to direct your broker, bank, or other nominee how to vote, and you are also invited to participate in the Meeting. However, since you are not the shareholder of record, you may not vote these shares in person, unless you obtain a legal proxy from your brokerage firm or bank. If a broker, bank, or other nominee holds your shares, you will receive instructions from them that you must follow in order to have your shares voted.

If, however, your shares are registered directly in your name with our transfer agent, VStock Transfer, LLC ("VStock"), you are considered, with respect to those shares, the shareholder of record, and these proxy materials are being sent directly to you. You may vote in the following ways:

●  ***By Mail:*** Votes may be cast by mail, as long as the proxy card or voting instruction card is delivered in accordance with its instructions prior to 4:00 p.m., Eastern Time, on April 28, 2026. Shareholder may submit proxies by completing, signing, and dating their proxy card and mailing it in the accompanying pre-addressed envelope.

●  ***By Attending the Meeting In Person*** : Shareholders may attend the Meeting in person or by proxy and vote at the Meeting.

 ****

●  ***By Phone or Internet*** : Shareholders may vote by phone or Internet by following the instructions included in the proxy card they received. Your vote must be received by 11:59 p.m., Eastern Time April 28, 2026 to be counted. Have your proxy card available when you access the website or when you call. We provide Internet and telephone proxy voting to allow you to vote your shares on-line or by phone, with procedures designed to ensure the authenticity and correctness of your proxy vote instructions. However, please be aware that you must bear any costs or usage charges from Internet access providers and telephone companies.

**ANNUAL REPORT TO SHAREHOLDERS**

Pursuant to the Listing Rules of Nasdaq Stock Market, which permit companies to make available their annual reports to shareholders on or through the Company's website, the Company posts its annual reports on the Company's website. The annual report for the fiscal year ended September 30, 2025 on Form 20-F (the "***2025 Annual Report***") has been filed with the U.S. Securities and Exchange Commission (the "***SEC***"). The Company adopted this practice to avoid the considerable expense associated with mailing physical copies of such report to record holders. You may obtain a copy of the Company's 2025 Annual Report to shareholders by visiting the Company's website at https://https://wf.international/sec-filings/. If you want to receive a paper or email copy of the Company's 2025 Annual Report to shareholders, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy to the Investor Relations of the Company, available at https:// https://wf.international/contact-us/.

**PROPOSAL NO. 1**

**DIRECTOR RE-ELECTION**

The Board of Directors currently consists of five members. All five current directors named below (the "***Director Nominees***") will seek re-election at the Meeting.

Each director to be re-elected will hold office until the next annual general meeting of shareholders and until such director's successor is elected and is duly qualified, or until such director is otherwise vacated in accordance with in accordance with the amended and restated articles of the Company currently in effect.

The re-election of each of the five current directors will be proposed as separate ordinary resolutions of the Company.

**Director Nominees**

The Director Nominees recommended by the Board of Directors are as follows:

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| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position(s)** |
| Ni Jiang | 38 | Chairwoman |
| Ke Chen | 45 | Chief Executive Officer and Director |
| Siqi Chen | 41 | Independent Director |
| Xiaoyuan Zhang | 38 | Independent Director |
| Trent D. Davis | 59 | Independent Director |

---

**Information Regarding the Company's Directors and Nominees**

***Ni Jiang*** has served as our Chairwoman since March 2023. Previously, she served as Managing Partner at China Pinx Investment Group Limited, an investment consulting company, from June 2021 to August 2023, where she provided investment consulting services for companies aiming to list in the U.S. securities market. From March 2016 to September 2020, she worked as an Investment Manager at HNS Investment LLC, a global investment company with a focus on real estate and high-tech enterprises, where she was mainly responsible for the management and operation of locally invested real estate and technology startups in the United States. Furthermore, Ms. Jiang was the General Manager of Hong Sheng LLC, a global real estate development company that covers real estate development, property management, and sales of newly constructed properties, from May 2014 to April 2023, where she was mainly responsible for the development, property management, and home sales of large-scale real estate projects in the Washington state region of the United States. Prior to the experience in investment consulting and real estate, she worked as a TV Host and Journalist at Phoenix TV of Hong Kong, reporting on mainstream news from the West Coast of the United States. Ms. Jiang received her bachelor's degree in communications from the University of Washington, Seattle.

***Ke Chen*** has served as our Chief Executive Officer and Director since June 2023. She has served as Chairman of Shanyou HVAC since March 2013. Prior to that, she served as the Account Manager at Chengdu Jialichen Information Co., Ltd., a network security service provider specializing in value-added internet applications, where she was mainly responsible for business development in the Southwest China region, as well as communicating and coordinating with the technical department. From September 2003 to June 2007, Ms. Chen was the Training Manager of Beijing Global Gangxin Information Co., Ltd., an information company, where she handled the training of sales personnel for the company's seven branches across China. Ms. Chen received her bachelor's degree in applied mathematics from the University of Electronic Science and Technology of China.

***Siqi Chen*** has served as our director since December 2024. Ms. Chen is currently the deputy general manager of Wuhan Lanyisi Technology Co., Ltd., a medicine and medical equipment supplier, where she is responsible for developing marketing and e-commerce strategies and establishing business development systems. From June 2022 to December 2022, she was a director in the marketing department of the same company, where she developed the marketing department plans and collaborated with the e-commerce operations team. From December 2020 to June 2022, Ms. Chen served as a business development manager of Sichuan Kelun Pharmaceutical Co., Ltd., a pharmaceutical company, overseeing business partner selection and contracts negotiation. From April 2020 to

<br> December 2020, she served as the Director of Key Account Managers of Hubei Kelun Pharmaceutical Trade Co., Ltd., a pharmaceutical company, where she oversaw personnel performance and managed departmental project plans and budgets. Prior to that, she was the Key Account Manager there from September 2015 to March 2020, focusing on customer relationship management and brand promotion project design and implementation. From August 2008 to January 2012, she was the Marketing Manager of Hubei Kelun Pharmaceutical Trade Co., Ltd., where she was responsible for product marketing and brand promotion. Ms. Chen received her bachelor's degree in pharmacy from Sichuan University, China.

***Xiaoyuan Zhang*** has served as our director since December 2024. She served as Chief Financial Officer and Treasurer for Senmiao Technology Limited (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China, from September 2018 to December 2025. She served as a director and the chairperson of the Audit Committee of Color Star Technology Co., Ltd. (Nasdaq: CSCW), a provider of online and offline education services in China, from July 2019 to March 2021. Ms. Zhang previously served as Senior Auditor and Assurance Manager of Ernst & Young Hua Ming LLP, Chengdu Branch, from October 2010 to September 2018 where she participated in audits of several public companies listed in China, Hong Kong and Singapore, as well as large state-owned and foreign investment enterprises. Ms. Zhang received her dual bachelor's degrees in accounting and law from Southwestern University of Finance and Economics in Chengdu, China. Ms. Zhang is an intermediate accountant and a Certified Public Accountant of the Chinese Institute of Certified Public Accountants.

***Trent D. Davis*** has served as our director since December 2024. Mr. Davis served as a director and a member of the Audit Committee, Compensation Committee and the Nominating and Corporate Governance Committee of Senmiao Technology Limited (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China, from March 21, 2018 to November 2025. Mr. Davis is also currently the Chief Executive Officer of Paulson Investment Company, LLC, which is a boutique investment firm specializing in private equity offerings for small to mid-cap markets. Formerly, from December 2014 to December 2018, Mr. Davis was President and Chief Operating Officer of Whitestone Investment Network, Inc., which specializes in providing executive advisory services to small entrepreneurial companies, as well as restructuring, recapitalizing, and making strategic investments in small to midsize companies. Currently, Mr. Davis is a Director for Invo Biosciences (Nasdaq: IVF), which is a medical device company focused on creating simplified, lower cost treatments for patients diagnosed with infertility. Formerly, from September 2016 to August 2019, Mr. Davis was Vice Chairman and Lead Director of Eastside Distilling Inc. (Nasdaq: EAST), a manufacturer of high-quality, master-crafted spirits. As the Lead Independent Director Dataram Corporation (Nasdaq: DRAM), which develops, manufactures, and markets memory products primarily used in enterprise servers and workstations worldwide, from July 2015 to April 2017, Mr. Davis helped the company successfully complete the reverse merger with U.S. Gold Corp (Nasdaq: USAU), a gold exploration and development company. Previously, from December 2014 to July 2015, Mr. Davis was Chairman of the Board for Majesco Entertainment Company (Nasdaq: COOL), an innovative developer, marketer, publisher, and distributor of interactive entertainment for consumers around the world. From November 2013 until July 2014, Mr. Davis served as the President and Director of Paulson Capital Corp. (Nasdaq: PLCC) until he successfully completed the reverse merger of Paulson with VBI Vaccines (Nasdaq: VBIV). He went on to serve as a member of its Board of Directors and Audit Committee until May 2016. Mr. Davis was also the Chief Executive Officer of Paulson Investment Company, Inc., a subsidiary of Paulson Capital Corp, from July 2005 to October 2014, and is credited with overseeing the syndication of approximately $600 million for over 50 client companies in both public and private transactions. In 2003, Mr. Davis served as Chairman of the Board of the National Investment Banking Association. Mr. Davis holds a B.S. in Business and Economics from Linfield College and an M.B.A. from University of Portland. Mr. Davis is qualified to serve on our board of directors because of his deep knowledge of finance and public company issues, capital market, advisory and entrepreneurial experience, and extensive expertise in operational and executive management.

**RESOLUTIONS TO BE VOTED UPON**

The resolutions to be proposed shall be as follows:

*RESOLVED, BY ORDINARY RESOLUTION, that Ni Jiang be re-elected as a director of the Company to hold office until the next annual general meeting of the Company and until her successor is elected and duly qualified, or until the office of such director is otherwise vacated in accordance with the articles of association of the Company.*

 

 

*RESOLVED, BY ORDINARY RESOLUTION, that Ke Chen be re-elected as a director of the Company to hold office until the next annual general meeting of the Company and until her successor is elected and duly qualified, or until the office of such director is otherwise vacated in accordance with the articles of association of the Company.*

 

*RESOLVED, BY ORDINARY RESOLUTION, that Siqi Chen be re-elected as an independent director of the Company to hold office until the next annual general meeting of the Company and until her successor is elected and duly qualified, or until the office of such director is otherwise vacated in accordance with the articles of association of the Company.*

 

*RESOLVED, BY ORDINARY RESOLUTION, that Xiaoyuan Zhang be re-elected as an independent director of the Company to hold office until the next annual general meeting of the Company and until her successor is elected and duly qualified, or until the office of such director is otherwise vacated in accordance with the articles of association of the Company.*

 

*RESOLVED, BY ORDINARY RESOLUTION, that Trent Donald Davis be re-elected as an independent director of the Company to hold office until the next annual general meeting of the Company and until his successor is elected and duly qualified, or until the office of such director is otherwise vacated in accordance with the articles of association of the Company.*

 

**VOTE REQUIRED FOR APPROVAL**

Each ordinary resolution will be approved if a simple majority of the total votes properly cast in person or by proxy at the Meeting by the shareholders of the Company entitled to vote at the Meeting vote "FOR" the resolution. Abstentions and broker non-votes will have no effect on the result of the vote.

The re-election of each director nominee will become effective upon the passing of the relevant ordinary resolution.

**THE BOARD OF DIRECTORS RECOMMENDS**

**A VOTE *FOR* RE-ELECTION OF**

**EACH DIRECTOR NOMINEE.**

**PROPOSAL NO. 2**

**THE SHARE CONSOLIDATIONS**

**GENERAL**

The Board of Directors believes that it is in the best interest of the Company and the shareholders, and is hereby soliciting shareholder approval, to effect three sequential share consolidations (together, the "***Share Consolidations***") of the Company's authorized issued and unissued shares, as follows:

(i) the ***First Share Consolidation***: every 10 issued and unissued ordinary shares of a par value of US$0.000001 each and every 10 issued and unissued preference shares of a par value of US$0.000001 each be consolidated into one ordinary share of a par value of US$0.00001 and one preference share of a par value of US$0.00001, respectively, such that following the First Share Consolidation, the authorized share capital of the Company will be US$50,000 divided into 5,000,000,000 shares of a par value of US$0.00001 each, comprising 4,900,000,000 ordinary shares of a par value of US$0.00001 each and 100,000,000 preference shares of a par value of US$0.00001 each;

(ii) the ***Second Share Consolidation***: following the First Share Consolidation, every five issued and unissued ordinary shares of a par value of US$0.00001 each and every five issued and unissued preference shares of a par value of US$0.00001 each be consolidated into one ordinary share of a par value of US$0.00005 and one preference share of a par value of US$0.00005, respectively, such that following the Second Share Consolidation, the authorized share capital of the Company will be US$50,000 divided into 1,000,000,000 shares of a par value of US$0.00005 each, comprising 980,000,000 ordinary shares of a par value of US$0.00005 each and 20,000,000 preference shares of a par value of US$0.00005 each; and

(iii) the ***Third Share Consolidation***: following the Second Share Consolidation, every five issued and unissued ordinary shares of a par value of US$0.00005 each and every five issued and unissued preference shares of a par value of US$0.00005 each be consolidated into one ordinary share of a par value of US$0.00025 and one preference share of a par value of US$0.00025, respectively, such that following the Third Share Consolidation, the authorized share capital of the Company will be US$50,000 divided into 200,000,000 shares of a par value of US$0.00025 each, comprising 196,000,000 ordinary shares of a par value of US$0.00025 each and 4,000,000 preference shares of a par value of US$0.00025 each.

The Board of Directors shall have the absolute discretion to determine when each such share consolidation shall be implemented.

The Share Consolidations will be implemented simultaneously for all authorized, issued, and outstanding shares. The Share Consolidations will affect all shareholders uniformly and will have no effect on the proportionate holdings of any individual shareholder, with the exception of adjustments related to the treatment of fractional shares.

**PURPOSE OF THE SHARE CONSOLIDATIONS**

The Company's ordinary shares are currently listed on the Nasdaq Stock Market LLC ("Nasdaq"). Among other requirements, the listing maintenance standards established by Nasdaq require the ordinary shares to have a minimum closing bid price of at least US$1.00 per share. The Board of Directors believes that the Share Consolidations are necessary and advisable to increase the per-share market price of the Company's ordinary shares and to maintain compliance with Nasdaq's continued listing requirements.

The Board of Directors has considered the potential harm to the Company of a delisting from Nasdaq and believes that delisting could, among other things, adversely affect (i) the trading price of the ordinary shares and (ii) the liquidity and marketability of the ordinary shares. This could reduce the ability of holders of the ordinary shares to purchase or sell ordinary shares as quickly and as inexpensively as they have done historically.

**FRACTIONAL SHARES**

No fractional shares will be issued in connection with any of the Share Consolidations. Instead, any fractional shares resulting from the Share Consolidations shall be rounded up to the next whole number. Cash will not be paid for fractional shares.

**REGISTRATION AND TRADING OF THE COMPANY'S ORDINARY SHARES**

The Share Consolidations will not affect the registration of the Company's ordinary shares or the Company's obligation to publicly file financial and other information with the SEC. When each Share Consolidation is implemented, the Company's ordinary shares will begin trading on a post-consolidation basis on the effective date that the Company announces by press release.

**STREET NAME SHAREHOLDERS**

The Company intends for the Share Consolidations to treat shareholders holding ordinary shares in street name through a nominee (such as a bank or broker) in the same manner as shareholders whose shares are registered in their names. Nominees will be instructed to effect the Share Consolidations for their beneficial holders. However, nominees may have different procedures. Accordingly, shareholders holding ordinary shares in street name should contact their nominees.

**RESOLUTION TO BE VOTED UPON**

The full text of the resolution to be proposed is as follows:

*RESOLVED, BY ORDINARY RESOLUTION,* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) on such date as any Director deems advisable and may determine in his or her absolute discretion, every
ten (10) issued and unissued ordinary shares of a par value of US$0.000001 each and every ten (10) issued and unissued preference shares
of a par value of US$0.000001 each be consolidated into one ordinary share of a par value of US$0.00001 and one preference share of a
par value of US$0.00001, respectively, such that following such share consolidation, the authorised share capital of the Company will
be US$50,000 divided into 5,000,000,000 shares of a par value of US$0.00001 each, comprising 4,900,000,000 ordinary shares of a par value
of US$0.00001 each and 100,000,000 preference shares of a par value of US$0.00001 each (the "**First Share Consolidation** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subsequently following the First Share Consolidation, on such date as any Director deems advisable and
may determine in his or her absolute discretion, every five (5) issued and unissued ordinary shares of a par value of US$0.00001 each
and every five (5) issued and unissued preference shares of a par value of US$0.00001 each be consolidated into one ordinary share of
a par value of US$0.00005 and one preference share of a par value of US$0.00005, respectively, such that following such share consolidation,
the authorised share capital of the Company will be US$50,000 divided into 1,000,000,000 shares of a par value of US$0.00005 each, comprising
980,000,000 ordinary shares of a par value of US$0.00005 each and 20,000,000 preference shares of a par value of US$0.00005 each (the
" **Second Share Consolidation** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) subsequently following the Second Share Consolidation, on such date as any Director deems advisable and
may determine in his or her absolute discretion, every five (5) issued and unissued ordinary shares of a par value of US$0.00005 each
and every five (5) issued and unissued preference shares of a par value of US$0.00005 each be consolidated into one ordinary share of
a par value of US$0.00025 and one preference share of a par value of US$0.00025, respectively, such that following such share consolidation,
the authorised share capital of the Company will be US$50,000 divided into 200,000,000 shares of a par value of US$0.00025 each, comprising
196,000,000 ordinary shares of a par value of US$0.00025 each and 4,000,000 preference shares of a par value of US$0.00025 each (the "**Third Share Consolidation** ", and together with the First Share Consolidation and the Second Share Consolidation, the "**Share Consolidations** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) no fractional shares be issued in connection with the Share Consolidations and all fractional shares resulting
from the Share Consolidations shall be rounded up to the next whole number.

**VOTE REQUIRED FOR APPROVAL**

The approval of Proposal No. 2 requires an ordinary resolution under Cayman Islands law, being the affirmative vote of at least a simple majority of the votes cast at the Meeting by shareholders who, being present and entitled to vote in person at the Meeting, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives.

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as a vote cast at the Meeting.

**THE BOARD OF DIRECTORS RECOMMENDS**

**A VOTE *FOR***

**THE SHARE CONSOLIDATIONS.**

**PROPOSAL NO. 3**

**ADOPTION OF THE WF INTERNATIONAL LIMITED 2026 EQUITY INCENTIVE PLAN**

On March 13, 2026, our Board of Directors adopted and approved the 2026 Plan, subject to shareholder approval. At the Meeting, our shareholders will be asked to consider and vote upon a proposal to approve the WF International Limited 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 A.

The 2026 Plan will become effective on the date it is approved by our shareholders at the 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**

Our 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 A 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 five individuals will be eligible to participate in the 2026 Plan, which includes approximately three non-employee directors, 35 employees, and three consultants.

*Administration*

The 2026 Plan will be administered by the Board of Directors or one more committees or subcommittees of the Board of Directors, which will be comprised, unless otherwise determined by the Board of Directors, 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 the Company's ordinary shares (the "Shares") that may be issued under the 2026 Plan is the sum of (A) 1,537,250, 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) 3% 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 of Directors or the Committee.

1,537,250 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 stock 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 of Directors, 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)

<br> 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, reverse stock split, 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 any 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, then the award will be treated as determined by the Administrator, in its sole discretion. 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.

**RESOLUTION TO BE VOTED UPON**

The resolution to be proposed shall be as follows:

*RESOLVED, BY ORDINARY RESOLUTION, that the adoption of the 2026 Plan be approved.* 

**VOTE REQUIRED FOR APPROVAL**

The approval of Proposal No. 3 requires an ordinary resolution under Cayman Islands law, being the affirmative vote of at least a simple majority of the votes cast at the Meeting by shareholders who, being present and entitled to vote in person at the Meeting, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives.

Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as a vote cast at the Meeting.

**THE BOARD OF DIRECTORS RECOMMENDS**

**A VOTE *FOR***

**THE ADOPTION OF THE 2026 PLAN.**

**PROPOSAL NO. 4**

**RATIFICATION OF THE AUDITOR** 

The Company's audit committee recommends, and the Board of Directors concurs, that ZH CPA, LLC be appointed as the Company's auditor for the fiscal year ending September 30, 2026 (the "***Auditor Appointment***").

In the event that our shareholders fail to ratify the appointment, our audit committee will reconsider its selection. Even if the appointment is ratified, our audit committee in its discretion may recommend the appointment of a different auditor at any time during the year, if the audit committee believes that such a change would be in the best interests of the Company and its shareholders.

**RESOLUTION TO BE VOTED UPON**

The resolution to be proposed shall be as follows:

*RESOLVED, BY ORDINARY RESOLUTION, that the appointment of ZH CPA, LLC as the auditor of the Company for the fiscal year ending September 30, 2026 be ratified.*

**VOTE REQUIRED FOR APPROVAL**

The approval of Proposal No. 4 requires an ordinary resolution under Cayman Islands law, being the affirmative vote of at least a simple majority of the votes cast at the Meeting by shareholders who, being present and entitled to vote in person at the Meeting, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives. Abstentions and broker non-votes will have no effect on the result of the vote.

**THE BOARD OF DIRECTORS RECOMMENDS**

**A VOTE *FOR***

**THE AUDITOR APPOINTMENT.**

**PROPOSAL NO. 5**

**ADJOURNMENT OF THE MEETING**

**GENERAL**

The Board of Directors is requesting that shareholders approve a proposal to adjourn the Meeting, if necessary or appropriate, to solicit additional proxies in the event that there are insufficient votes at the time of the Meeting to approve any of the proposals presented at the Meeting. If shareholders approve this adjournment proposal, the Board of Directors could adjourn the Meeting and use the additional time to solicit additional proxies, including proxies from shareholders who have previously voted.

If the Meeting is adjourned, notice of the adjourned meeting need not be given if the time and place of the adjourned meeting are announced at the Meeting at which the adjournment is taken and the Meeting is adjourned for less than fourteen days. At any adjourned meeting at which a quorum is present, the Company may transact any business that might have been transacted at the original meeting.

**RESOLUTION TO BE VOTED UPON**

The resolution to be proposed shall be as follows:

*RESOLVED, BY ORDINARY RESOLUTION, that the adjournment of the Meeting, if necessary or appropriate, to solicit additional proxies in the event that there are insufficient votes at the time of the Meeting to approve any of the foregoing proposals, be approved*.

**VOTE REQUIRED FOR APPROVAL**

The approval of Proposal No. 5 requires an ordinary resolution under Cayman Islands law, being the affirmative vote of at least a simple majority of the votes cast at the Meeting by shareholders who, being present and entitled to vote in person at the Meeting, vote in person or, where proxies are allowed, by proxy or, in the case of corporations, by their duly authorized representatives. Abstentions and broker non-votes will have no effect on the result of the vote.

**THE BOARD OF DIRECTORS RECOMMENDS**

**A VOTE *FOR***

**THE ADJOURNMENT OF THE MEETING.**

**SHAREHOLDER COMMUNICATIONS** 

Shareholders or interested parties may send communications to the Board of Directors, to any standing committee of the Board, or to any Director, in writing, to No. 1110, 11th Floor, Unit 1, Building 7, No. 477, Wanxing Road, Chengdu, Sichuan, China, 610041. Shareholders or interested parties may also submit questions, concerns to our CEO Ke Chen at +86 (28) 85138158 or at ir@wf-cdintel.com. Communications received may be reviewed by Board of Directors to ensure appropriate and careful review of the matter.

**OTHER MATTERS**

The Board of Directors is not aware of any other matters to be submitted to the Meeting. If any other matters properly come before the Meeting, it is the intention of the persons named in the enclosed form of proxy to vote the shares they represent as the Board of Directors may recommend.

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| | |
|:---|:---|
|  | By order of the Board of Directors |
| March 24, 2026 | */s/ Ni Jiang* |
|  | Ni Jiang |
|  | Chairwoman of the Board of Directors |

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**Annex A**

**THE WF INTERNATIONAL LIMITED 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;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;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;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;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;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 Policy*** means the Company's policy 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 WF International Limited, an exempted company under the laws of the Cayman Islands.

&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 ordinary shares of the Company, par value $0.000001 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 WF International Limited 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) 1,537,250, 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) 3% 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 (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 1,537,250 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 the Company's Clawback Policy. 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 Policy. By accepting an Award, the Participant agrees to be bound by the Clawback Policy and to adhere to the Clawback Policy 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 March 13, 2026, and shall become effective on the date that it is approved by the Company's shareholders (the "***Effective Date***").

Unless terminated earlier under Section 14, this Plan shall terminate on April 28, 2036, ten (10) years after the Effective Date.

## Exhibit 99.2

**EXHIBIT 99.2**

![](ex99-2_001.jpg)

![](ex99-2_002.jpg)