<SEC-DOCUMENT>0001213900-23-076705.txt : 20230914
<SEC-HEADER>0001213900-23-076705.hdr.sgml : 20230914
<ACCEPTANCE-DATETIME>20230914163017
ACCESSION NUMBER:		0001213900-23-076705
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20230914
FILED AS OF DATE:		20230914
DATE AS OF CHANGE:		20230914

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SAI.TECH Global Corp
		CENTRAL INDEX KEY:			0001847075
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				981584130
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40368
		FILM NUMBER:		231255440

	BUSINESS ADDRESS:	
		STREET 1:		437 MADISON AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		(732) 910-9692

	MAIL ADDRESS:	
		STREET 1:		437 MADISON AVENUE
		STREET 2:		27TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TradeUP Global Corp
		DATE OF NAME CHANGE:	20210219
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea185158-6k_saitech.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For the month of September 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Commission File Number: 001-40368</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SAI.TECH Global Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Exact name of registrant as specified in its
charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>#01-05 Pearl&rsquo;s Hill Terrace, Singapore,
168976</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address of principal executive office) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Form 20-F &#9746; &nbsp;&nbsp;&nbsp;Form 40-F &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 14, 2023, SAI.TECH Global Corporation
(the &ldquo;Company&rdquo;) announced that all shareholder proposals submitted for shareholder approval (the &ldquo;Proposals&rdquo;)
have been duly adopted at its annual general meeting of shareholders held virtually at www.virtualshareholdermeeting.com/SAI2023 on September
6, 2023 (the &ldquo;AGM&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After the adoption of the Proposals, all corporate
authorizations and actions contemplated thereunder were approved, including, among other things, that (i) Mr. Risheng Li was re-elected
as a Class I Director of the Company, (ii) the elections of Mr. Yusen Chen and Mr. Yao Shi as Class II Directors of the Company were ratified,
(iii) the elections of Mr. Hao Ge and Mr. Jinlong Zhu as Class III Directors of the Company were ratified, (iv) the appointment of Audit
Alliance LLP as the independent registered public accounting firm of the Company for the fiscal year ended December 31, 2022 and for the
fiscal year ended December 31, 2023 was ratified and approved, and (v) the Company&rsquo;s 2023 Equity Incentive Plan was approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company hereby submits this Current Report on Form 6-K to furnish,
among others, (i) the 2023 Equity Incentive Plan of the Company as set forth in Exhibit 10.1 hereto, (ii) the voting results of the AGM
as set forth in Exhibit 99.1 hereto, and (iii) a copy of the press release issued on September 14, 2023 to announce the results of AGM
as set forth in Exhibit 99.2 hereto. For more details, please refer to exhibits to this Current Report on Form 6-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 90%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea185158ex10-1_saitech.htm">2023 Equity Incentive Plan of SAI.TECH Global Corporation</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea185158ex99-1_saitech.htm">Voting Results of 2023 Annual General Meeting of SAI.TECH Global Corporation</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea185158ex99-2_saitech.htm">Press Release Dated September 14, 2023 &ndash; SAI.TECH Announces Results of Annual General Meeting</A></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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, thereto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: September 14, 2023</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SAI.TECH GLOBAL CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Risheng Li</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risheng Li</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">3</P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea185158ex10-1_saitech.htm
<DESCRIPTION>2023 EQUITY INCENTIVE PLAN OF SAI.TECH GLOBAL CORPORATION
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form of SAI.TECH Global Corporation Equity
Incentive Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SAI.TECH Global Corporation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2023 Equity Incentive Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Adopted by the Board of Directors of SAI.TECH
Global Corporation: July 22, 2023</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Approved by the Shareholders of SAI.TECH Global
Corporation: September 6, 2023</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1. General.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Establishment. </B>The SAI.TECH Global Corporation 2023 Equity
Incentive Plan (the &ldquo;<B><I>Plan</I></B>&rdquo;) is hereby established effective as of September 6, 2023, which is the date on which
the Shareholders of SAI.TECH Global Corporation (the &ldquo;Company&rdquo;) approved the Plan at an annual general meeting of the Company
(the &ldquo;<B><I>Effective Date</I></B>&rdquo;).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Purpose. </B>The Plan, through the granting of Awards, is intended
to help the Company secure and retain the services of eligible award recipients, provide incentives for such persons to exert maximum
efforts for the success of the Company and any Affiliate and provide means by which the eligible recipients may benefit from increases
in value of the Ordinary Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Available Awards. </B>The Plan provides for the grant of the
following types of Awards: (i) Options, (ii) Share Appreciation Rights, (iii) Restricted Share Awards, (iv) Restricted Share Unit Awards,
and (v) Other Awards.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>2. Administration.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Administration by Board. </B>The Board will administer the Plan
unless and until the Board delegates administration of the Plan to a Committee or Committees, as provided in <U>Section 2(c)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Powers of Board. </B>The Board will have the power, subject
to, and within the limitations of, the express provisions of the Plan:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>To determine from time to time (A) which of the persons
eligible under the Plan will be granted Awards; (B) when and how each Award will be granted; (C) what type or combination of types of
Award will be granted; (D) the provisions of each Award granted (which need not be identical or comparable), including the time or times
when a person will be permitted to exercise or otherwise receive an issuance of Ordinary Shares or other payment pursuant to an Award;
(E) the number of Ordinary Shares or cash equivalent with respect to which an Award will be granted to each such person; and (F) the Fair
Market Value applicable to an Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B>To construe and interpret the Plan and Awards granted under
it, and to establish, amend and revoke rules and regulations for administration of the Plan and Awards. The Board, in the exercise of
these powers, may correct any defect, omission or inconsistency in the Plan or in any Award Agreement, in a manner and to the extent it
will deem necessary or expedient to make the Plan or Award fully effective.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) </B>To settle all controversies regarding the Plan and Awards
granted under it.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) </B>To accelerate, in whole or in part, the time at which an
Award may be exercised or vest (or at which cash or Ordinary Shares may be issued).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) </B>To prohibit the exercise of any Option, SAR or other exercisable
Award during a period of up to 30 days prior to the consummation of any pending stock dividend, stock split, combination or exchange of
shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to shareholders, or any other
change affecting the Ordinary Shares or the share price of Ordinary Shares including any Corporate Transaction, for reasons of administrative
convenience.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vi) </B>To suspend or terminate the Plan at any time. Except as
otherwise provided in the Plan or an Award Agreement, suspension or termination of the Plan will not impair a Participant&rsquo;s rights
under his or her then-outstanding Award without his or her written consent.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vii) </B>To amend the Plan in any respect the Board deems necessary
or advisable, subject to the limitations, if any, of applicable law; <I>provided</I>, <I>however </I>that Shareholder approval will be
required for any amendment to the extent required by applicable law. Except as provided in the Plan or an Award Agreement, no amendment
of the Plan will impair a Participant&rsquo;s rights under an outstanding Award unless (A) the Company requests the consent of the affected
Participant, and (B) such Participant consents in writing.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(viii) </B>To submit any amendment to the Plan for Shareholder approval,
including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 422 of the Code regarding Incentive
Share Options.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ix) </B>To approve forms of Award Agreements for use under the
Plan and to amend the terms of any one (1) or more Awards, including, but not limited to, amendments to provide terms more favorable to
the Participant than previously provided in the Award Agreement, subject to any specified limits in the Plan that are not subject to Board
discretion; <I>provided however, </I>that a Participant&rsquo;s rights under any Award will not be impaired by any such amendment unless
(A) the Company requests the consent of the affected Participant, and (B) such Participant consents in writing. Notwithstanding the foregoing,
(1) a Participant&rsquo;s rights will not be deemed to have been impaired by any such amendment if the Board, in its sole discretion,
determines that the amendment, taken as a whole, does not materially impair the Participant&rsquo;s rights, and (2) subject to the limitations
of applicable law, if any, the Board may amend the terms of any one (1) or more Awards without the affected Participant&rsquo;s consent
(X) to maintain the tax qualified status of the Award, (Y) to clarify the manner of exemption from, or to bring the Award into compliance
with, Section 409A of the Code or Section 457A of the Code; or (Z) to comply with other applicable laws.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(x) </B>Generally, to exercise such powers and to perform such acts
as the Board deems necessary or expedient to promote the best interests of the Company and that are not in conflict with the provisions
of the Plan or Awards.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(xi) </B>To adopt such procedures and sub-plans as are necessary
or appropriate to permit participation in the Plan by Employees, Directors or Consultants who are foreign nationals or employed outside
the United States (provided that Board approval will not be necessary for immaterial modifications to the Plan or any Award Agreement
that are required for compliance with the laws of the relevant foreign jurisdiction). Without limiting the generality of the foregoing,
the Board specifically is authorized to adopt rules, procedures and sub-plans, regarding, without limitation, conversion of local currency,
obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of share issuances,
which may vary according to local requirements.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(xii) </B>To effect, at any time and from time to time, subject
to the consent of any Participant whose Award is impaired by such action, (A) the reduction of the exercise, purchase or strike price
of any outstanding Award (including without limitation any Option or SAR); (B) the cancellation of any outstanding Award and the grant
in substitution therefor of a new (1) Option, Share Appreciation Right, Restricted Share Award, Restricted Share Unit Award, or Other
Award under the Plan or another equity plan of the Company, covering the same or a different number of Ordinary Shares, (2) cash and/or
(3) other valuable consideration determined by the Board, in its sole discretion; or (C) any other action that is treated as a repricing
under generally accepted accounting principles; <I>provided</I>, that any repricing that the Board effectuates shall not require approval
of the Company&rsquo;s shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) </B>Delegation to Committee.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) General. </B>The Board may delegate some or all of the administration
of the Plan to a Committee or Committees. If administration of the Plan is delegated to a Committee, the Committee will have, in connection
with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including
the power to delegate to a subcommittee of the Committee any of the administrative powers the Committee is authorized to exercise (and
references in this Plan to the Board will thereafter be to the Committee or subcommittee). Any delegation of administrative powers will
be reflected in resolutions, not inconsistent with the provisions of the Plan, adopted from time to time by the Board or Committee (as
applicable). The Committee may, at any time, abolish the subcommittee and/or revest in the Committee any powers delegated to the subcommittee.
The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some
or all of the powers previously delegated.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) Rule 16b-3 Compliance.</B> To the extent an Award is intended
to qualify of the exemption from Section 16(b) of the Exchange Act that is available under Rule 16b-3 of the Exchange Act, the Plan shall
be administered by the Board or the Committee (subject to the Board&rsquo;s discretion) in accordance with the requirements of Rule 16b-3
under the Exchange Act to the extent necessary for such exemption to remain available. The failure of a member of the Board or Committee
(as applicable) to qualify as a &ldquo;non-employee director,&rdquo; as determined under Rule 16b-3(b)(3) of the Exchange Act, shall not
invalidate any Award granted or action taken by the Board or Committee (as applicable) that is otherwise validly granted or taken under
the terms of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Delegation to an Officer. </B>The Board or any Committee may
delegate to one (1) or more Officers the authority to do one (1) or both of the following: (i) designate Employees who are not Officers
to be recipients of Options and SARs (and, to the extent permitted by applicable law, other Awards) and, to the extent permitted by applicable
law, the terms of such Awards and (ii) determine the number of Ordinary Shares to be subject to such Awards granted to such Employees;
<I>provided, however</I>, that the resolutions or charter adopted by the Board or any Committee evidencing such delegation will specify
the total number of Ordinary Shares that may be subject to the Awards granted by such Officer and that such Officer may not grant an Award
to himself or herself. Any such Awards will be granted on substantially the form of Award Agreement most recently approved for use by
the Committee or the Board, unless otherwise provided in the resolutions approving the delegation authority. Notwithstanding anything
to the contrary herein, neither the Board nor any Committee may delegate authority to an Officer who is acting solely in the capacity
of an Officer (and not also as a Director) to determine the Fair Market Value (pursuant to <U>Section 13(y)</U> below).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) Effect of Board&rsquo;s Decision. </B>All determinations, interpretations
and constructions made by the Board or any Committee in good faith will not be subject to review by any person and will be final, binding
and conclusive on all persons. The Board&rsquo;s or any Committee&rsquo;s decisions and determinations need not be uniform and may be
made selectively among Participants in the Board&rsquo;s or any Committee&rsquo;s sole discretion. The Board&rsquo;s or any Committee&rsquo;s
decisions and determinations will be afforded the maximum deference provided by applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>3. Ordinary Shares Subject to the Plan.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Share Reserve. </B>Subject to adjustment in accordance with
<U>Section 3(c)</U> and to any adjustment as necessary to implement any Capitalization Adjustments, the Share Reserve on the Effective
Date shall be 1,376,792 Ordinary Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, subject to any adjustment as necessary to implement any
Capitalization Adjustments, such Share Reserve will automatically increase on January 1st of each year for a period of ten (10) years
commencing on January 1, 2024 and ending on (and including) January 1, 2033, in an amount equal to six percent (6%) of the total number
of Capital Shares (on a fully-diluted basis) outstanding on December 31st of the preceding year; provided, however that the Board or any
Committee may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of Ordinary
Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Aggregate Incentive Share Option
Limit</B>. Notwithstanding anything to the contrary in <U>Section 3(a)</U> and subject to any adjustments as necessary to implement
any Capitalization Adjustment, the aggregate number of Ordinary Shares that may be issued pursuant to the exercise of Incentive
Share Options is 1,376,792 Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Reversion of Ordinary Shares to the Share Reserve. </B>If an
Award or any portion thereof (i) expires or otherwise terminates without all of the Ordinary Shares covered by such Award having been
issued or (ii) is settled in cash (i.e., the Participant receives cash rather than Ordinary Shares), such expiration, termination or cash
settlement will not reduce (or otherwise offset) the number of Ordinary Shares that may be available for issuance under the Plan. If any
Ordinary Shares issued pursuant to an Award are forfeited back to or repurchased by the Company because of the failure to meet a contingency
or condition required to vest such Ordinary Shares in the Participant, then the shares that are forfeited or repurchased will revert to
and again become available for issuance under the Plan. Any Ordinary Shares reacquired by the Company in satisfaction of tax withholding
obligations on an Award or as consideration for the exercise or purchase price of an Award will again become available for issuance under
the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Source of Ordinary Shares. </B>The Ordinary Shares issuable
under the Plan will be authorized but unissued or reacquired Ordinary Shares, including Ordinary Shares repurchased by the Company on
an open market or otherwise.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) Substitute Awards. </B>In connection with an entity&rsquo;s
merger or consolidation with the Company or the Company&rsquo;s acquisition of an entity&rsquo;s property or stock, the Board may grant
Awards in substitution for any options or other share or share-based awards granted before such merger or consolidation by such entity
or its affiliate. Substitute Awards may be granted on such terms as the Board deems appropriate, notwithstanding limitations on Awards
in the Plan. Substitute Awards will not count against the Share Reserve set forth in <U>Section 3(a)</U> above (nor shall Ordinary Shares
subject to a Substitute Award be added to the Ordinary Shares available for Awards under the Plan as provided in <U>Section 3(c)</U> above),
except that Ordinary Shares acquired by exercise of substitute Incentive Share Options will count against the maximum number of Ordinary
Shares that may be issued pursuant to the exercise of Incentive Share Options under <U>Section 3(b)</U> of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(f) Class of Ordinary Shares. </B>Substitute Awards and other Awards,
in either case, granted under the Plan shall be for Class A Ordinary Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>4. Eligibility and Non-Employee Director Limitation.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Eligible Award Recipients</B>. Subject to the terms of the Plan
and applicable law, Awards may be granted to Employees, Directors and Consultants.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Service Recipient Stock. </B>Notwithstanding anything herein
to the contrary, no Award under which a Participant may receive Ordinary Shares may be granted to an Employee, Director, or Consultant
of any Affiliate of the Company if such Ordinary Shares do not constitute &ldquo;service recipient stock&rdquo; for purposes of Section
409A of the Code with respect to such Employee, Director or Consultant and such Ordinary Shares are required to constitute &ldquo;service
recipient stock&rdquo; for such Award to comply with, or be exempt from, Section 409A of the Code.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Non-Employee Director Compensation Limitation. </B>The aggregate
value of all compensation granted or paid, as applicable, to any individual for service as a Non-Employee Director with respect to any
calendar year, including Awards granted and cash fees paid by the Company to such Non-Employee Director, will not exceed (i) US$750,000
total in value or (ii) in the event such Non-Employee Director is first appointed or elected to the Board during such calendar year, US$1,000,000
in total value, in each case calculating the value of any equity awards based on the grant date fair value of such equity awards for financial
reporting purposes. The limitations in this <U>Section 4(c)</U> shall apply commencing with the first calendar year that begins following
the Effective Date. For avoidance of doubt, compensation will count towards this limit for the calendar year it was granted or earned,
and not later when distributed, in the event it is deferred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>5. Provisions Relating to Options and Share Appreciation Rights.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Option or SAR will be in such form and will contain such terms
and conditions as the Board deems appropriate. The provisions of separate Options or SARs need not be identical or comparable; <I>provided,
however</I>, that each Award Agreement for Options or SARs will conform to (through incorporation of provisions hereof by reference in
the applicable Award Agreement or otherwise) the substance of each of the following provisions:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Term. </B>No Option or SAR will be exercisable after the expiration
of ten (10) years from the date of its grant or such shorter period specified in the Award Agreement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Exercise Price. </B>The exercise or strike price of each Option
or SAR shall be determined by the Board and set forth in the Award Agreement which, unless otherwise determined by the Board, may be a
fixed or variable price determined by reference to the Fair Market Value of the Ordinary Shares over which such Award is granted; <I>provided,
however, </I>that (i) no Option or SAR may be granted to a U.S. Participant with an exercise or strike price per Ordinary Share which
is less than one hundred percent (100%) of the Fair Market Value of an Ordinary Share subject to the Option or SAR on the date of grant,
without compliance with Section 409A of the Code or the Participant&rsquo;s consent, (ii) the exercise or strike price of each Option
or SAR granted to a Participant that is not a U.S. Participant shall comply with applicable law, and (iii) an Option or SAR may be granted
with an exercise or strike price lower than that set forth herein if such Option or SAR is granted pursuant to an assumption or substitution
for an option or share appreciation right granted by another company, whether in connection with an acquisition of such company or otherwise,
and in a manner consistent with the provisions of Section 409A of the Code and other applicable law. Notwithstanding the foregoing, no
Option or SAR may be granted with an exercise or strike price lower than the par value of the Ordinary Shares. Each SAR will be denominated
in Ordinary Share equivalents.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Exercise Procedure and Payment of Exercise Price for Options.
</B>In order to exercise an Option, the Participant must provide notice of exercise to the Company in accordance with the procedures specified
in the Option Agreement or otherwise provided by the Company. The purchase price of Ordinary Shares acquired pursuant to the exercise
of an Option may be paid, to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination
of the methods of payment set forth below. Any Ordinary Shares that are not fully paid will be subject to the forfeiture provisions in
the Memorandum and Articles. The Board will have the authority to grant Options that do not permit all of the following methods of payment
(or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to use a particular
method of payment. Subject to applicable law, the permitted methods of payment are as follows:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>by cash, check, bank draft or money order payable to the
Company;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B>pursuant to a &ldquo;cashless exercise&rdquo; program (developed
under Regulation T as promulgated by the U.S. Federal Reserve Board or similar regulations in other applicable jurisdictions, if required
for compliance with the laws of the relevant jurisdiction) that, prior to the issuance of the Ordinary Share subject to the Option results
in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price
to the Company from the sales proceeds;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) </B>by delivery to the Company (either by actual delivery
or attestation) of Ordinary Shares that are already owned by the Participant free and clear of any liens, claims, encumbrances or security
interests, with a Fair Market Value on the date of exercise that does not exceed the exercise price, <I>provided that</I> (A) at the time
of exercise the Ordinary Shares are publicly traded, (B) any remaining balance of the exercise price not satisfied by such delivery is
paid by the Participant in cash or other permitted form of payment, (C) such delivery would not violate any applicable law or agreement
restricting the redemption of the Ordinary Shares, (D) any certificated shares are endorsed or accompanied by an executed assignment separate
from the certificate, and (E) such Ordinary Shares have been held by the Participant for any minimum period necessary to avoid adverse
accounting treatment as a result of such delivery as may be required by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) </B>if an Option is a Nonstatutory Share Option, by a &ldquo;net
exercise&rdquo; arrangement pursuant to which the Company will reduce the number of Ordinary Shares issuable upon exercise by the largest
whole number of Ordinary Shares with a Fair Market Value that does not exceed the aggregate exercise price; <I>provided, however</I>,
that the Company will accept a cash or other payment from the Participant to the extent of any remaining balance of the aggregate exercise
price not satisfied by such reduction in the number of whole Ordinary Shares to be issued. Ordinary Shares will no longer be subject to
an Option and will not be exercisable thereafter to the extent that (A) Ordinary Shares issuable upon exercise are used to pay the exercise
price pursuant to the &ldquo;net exercise,&rdquo; (B) Ordinary Shares are delivered to the Participant as a result of such exercise, and
(C) Ordinary Shares are withheld to satisfy tax withholding obligations; or</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) </B>in any other form of legal consideration that may be acceptable
to the Board and permissible under applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Exercise and Payment of a SAR. </B>To exercise any outstanding
SAR, the Participant must provide written notice of exercise to the Company in compliance with the provisions of the Award Agreement evidencing
such SAR or otherwise provided by the Company. The appreciation distribution payable on the exercise of a SAR will be not greater than
an amount equal to the excess of (i) the aggregate Fair Market Value (on the date of the exercise of the SAR) of a number of Ordinary
Shares equal to the number of Ordinary Shares equivalents in which the Participant is vested under such SAR, and with respect to which
the Participant is exercising the SAR on such date, over (ii) the aggregate strike price of the number of Ordinary Shares equivalents
with respect to which the Participant is exercising the SAR on such date. The appreciation distribution may be paid in Ordinary Shares,
in cash, in any combination of the two or in any other form of consideration, as determined by the Board and contained in the Award Agreement
evidencing such SAR and subject to applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) Transferability of Options and SARs. </B>The Board may, in its
sole discretion, impose such limitations on the transferability of Options and SARs as the Board will determine. In the absence of such
a determination by the Board to the contrary, the following restrictions on the transferability of Options and SARs will apply:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Restrictions on Transfer</B>. An Option or SAR will not be transferable
except by will or by the laws of descent and distribution (and pursuant to subsections (ii) and (iii) below), and will be exercisable
during the lifetime of the Participant only by the Participant. The Board may permit transfer of the Option or SAR in a manner that is
not prohibited by applicable tax and securities laws. Except as explicitly provided herein, neither an Option nor a SAR may be transferred
for consideration.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) Domestic Relations Orders</B>. Subject to the approval of the
Board or a duly authorized Officer, an Option or SAR may be transferred pursuant to the terms of a domestic relations order, official
marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) or regulations
in other applicable jurisdictions.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) Beneficiary Designation</B>. Subject to the approval of the
Board or a duly authorized Officer, a Participant may, by delivering written notice to the Company, in a form approved by the Company
(or the designated broker), designate a third party who, upon the death of the Participant, will thereafter be entitled to exercise the
Option or SAR and receive the Ordinary Shares or other consideration resulting from such exercise. In the absence of such a designation,
upon the death of the Participant, the executor or administrator of the Participant&rsquo;s estate will be entitled to exercise the Option
or SAR and receive the Ordinary Shares or other consideration resulting from such exercise. However, the Company may prohibit designation
of a beneficiary at any time, including due to any conclusion by the Company that such designation would be inconsistent with the provisions
of applicable laws.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(f) Vesting Generally. </B>The total number of Ordinary Shares subject
to an Option or SAR may vest and become exercisable in periodic installments that may or may not be equal. The Option or SAR may be subject
to such other terms and conditions on the time or times when it may or may not be exercised (which may be based on the satisfaction of
performance goals or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options or SARs may vary.
The provisions of this <U>Section 5(f)</U> are subject to any Option or SAR provisions governing the minimum number of Ordinary Shares
as to which an Option or SAR may be exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(g) Termination of Continuous Service.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Termination of Continuous Service for Cause. </B>Except as explicitly
provided otherwise in a Participant&rsquo;s Award Agreement or other written agreement between a Participant and the Company or an Affiliate,
if a Participant&rsquo;s Continuous Service is terminated for Cause, the Participant&rsquo;s Awards (whether vested or unvested) will
be terminated and be forfeited immediately upon such termination of Continuous Service, and the Participant will be prohibited from exercising
any portion (including any vested portion) of such Awards on and after the date of such termination of Continuous Service and the Participant
will have no further right, title or interest in such forfeited Award, the Ordinary Shares subject to the forfeited Award, or any consideration
in respect of the forfeited Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) Post-Termination Exercise Period Following Termination of Continuous
Service for Reasons Other than Cause. </B>Subject to <U>Section 5(h)</U>, if a Participant&rsquo;s Continuous Service terminates for any
reason other than for Cause, the Participant may exercise his or her Option or SAR to the extent vested, but only within the following
period of time or, if applicable, such other period of time provided in the Award Agreement or other written agreement between a Participant
and the Company or an Affiliate; <I>provided, however</I>, that in no event may such Award be exercised after the expiration of its maximum
term (as set forth in <U>Section 5(a)</U>):</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Three (3) months following the date of such termination if the
Option is an Incentive Share Option (other than any termination due to the Participant&rsquo;s Disability or death);</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) For all other Awards other than Incentive Share Option, six (6)
months following the date of such termination if such termination is a termination without Cause (other than any termination due to the
Participant&rsquo;s Disability or death);</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) Twelve (12) months following the date of such termination if such
termination is due to the Participant&rsquo;s Disability;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) Twelve (12) months following the date of such termination if such
termination is due to the Participant&rsquo;s death; or</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5) Twelve (12) months following the date of the Participant&rsquo;s
death if such death occurs following the date of such termination but during the period such Award is otherwise exercisable (as provided
in (1), (2) or (3) above).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the date of such termination, to the extent the Participant
does not exercise such Award within the applicable post-termination exercise period (or, if earlier, prior to the expiration of the maximum
term of such Award), such unexercised portion of the Award will terminate, and the Participant will have no further right, title or interest
in the terminated Award, the Ordinary Shares subject to the terminated Award, or any consideration in respect of the terminated Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) Termination of Continuous Service and Unvested Portion of
Award. </B>Except as otherwise provided in the applicable Award Agreement or other written agreement between the Participant and the Company,
immediately upon termination of Continuous Service, all unvested portions of any outstanding Options or SARs of such Participant shall
be forfeited without consideration as of the termination date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(h) Restrictions on Exercise; Extension of Exercisability. </B>A
Participant may not exercise an Option or SAR at any time that the issuance of Ordinary Shares upon such exercise would violate applicable
law. Except as otherwise provided in the applicable Award Agreement or other written agreement between the Participant and the Company,
if the exercise of an Option or SAR following the termination of the Participant&rsquo;s Continuous Service (other than for Cause and
other than upon the Participant&rsquo;s death or Disability) would be prohibited at any time solely because the issuance of Ordinary Shares
would violate applicable law, then the Option or SAR will terminate on the earlier of (i) the expiration of a total period of time (that
need not be consecutive) equal to the applicable post termination exercise period after the termination of the Participant&rsquo;s Continuous
Service during which the exercise of the Option or SAR would not be in violation of such registration requirements, and (ii) the expiration
of the term of the Option or SAR as set forth in the applicable Award Agreement. In addition, unless otherwise provided in a Participant&rsquo;s
Award Agreement, if the sale of any Ordinary Shares received upon exercise of an Option or SAR following the termination of the Participant&rsquo;s
Continuous Service (other than for Cause) would violate the Company&rsquo;s insider trading policy, then the Option or SAR will terminate
on the earlier of (i) the expiration of a period of time (that need not be consecutive) equal to the applicable post-termination exercise
period after the termination of the Participant&rsquo;s Continuous Service during which the sale of the Ordinary Shares received upon
exercise of the Option or SAR would not be in violation of the Company&rsquo;s insider trading policy, and (ii) the expiration of the
term of the Option or SAR as set forth in the applicable Award Agreement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Modification or Assumption of Options. </B>Except as otherwise
provided in the Plan, the Board may modify, extend or assume outstanding Options or may accept the cancellation of outstanding stock options
(whether granted by the Company or by another issuer) in return for the grant of new Options for the same or a different number of shares
and at the same or a different exercise price. No modification of an Option shall, without the consent of the Participant, materially
impair his or her rights or increase his or her obligations under such Option.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>6. Provisions of Awards Other than Options and SARs.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Restricted Share Awards. </B>Each Restricted Share Award Agreement
will be in such form and will contain such terms and conditions as the Board deems appropriate. To the extent consistent with the Memorandum
and Articles and other constitutional and governance documents, at the Board&rsquo;s election, Ordinary Shares underlying a Restricted
Share Award may be held in book entry form subject to the Company&rsquo;s instructions until any restrictions relating to the Restricted
Share Award lapse; and may be evidenced by a certificate, which certificate will be held in such form and manner as determined by the
Board. The Company may require that any share certificates relating to Restricted Shares be held by the Company in escrow for the participant
until all restrictions on such Restricted Shares have been removed. The terms and conditions of Restricted Share Award Agreements may
change from time to time, and the terms and conditions of separate Restricted Share Award Agreements need not be identical or comparable.
Each Restricted Share Award Agreement will conform to (through incorporation of the provisions hereof by reference in the agreement or
otherwise) the substance of each of the following provisions:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Consideration</B>. A Restricted Share Award may be awarded in
consideration for (A) cash, check, bank draft or money order payable to the Company, (B) past services to the Company or an Affiliate,
or (C) any other form of legal consideration (including future services) that may be acceptable to the Board, in its sole discretion,
and permissible under applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) Vesting</B>. Ordinary Shares awarded under the Restricted Share
Award Agreement may be subject to forfeiture to the Company in accordance with a vesting schedule to be determined by the Board. Except
as otherwise provided in an Award Agreement or other written agreement between a Participant and the Company or an Affiliate, vesting
of Restricted Share Awards will cease upon termination of a Participant&rsquo;s Continuous Service.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) Termination of Participant&rsquo;s Continuous Service</B>.
If a Participant&rsquo;s Continuous Service terminates, the Company may receive through a forfeiture condition or a repurchase right,
any or all of the Ordinary Shares held by the Participant as of the date of termination of Continuous Service under the terms of the Restricted
Share Award Agreement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) Transferability</B>. Rights to acquire Ordinary Shares under
the Restricted Share Award Agreement will be transferable by the Participant only upon such terms and conditions as are set forth in the
Restricted Share Award Agreement, as the Board will determine in its sole discretion, so long as Ordinary Shares awarded under the Restricted
Share Award Agreement remains subject to the terms of the Restricted Share Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) Dividends. </B>A Restricted Share Award Agreement may provide
that any dividends paid on Restricted Shares will be subject to the same vesting and forfeiture restrictions as apply to the Ordinary
Shares subject to the Restricted Share Award to which they relate; provided, any performance-based Restricted Share Award Agreement shall
provide that any dividends paid on Restricted Shares will be subject to the same vesting and forfeiture restrictions as apply to the Ordinary
Shares subject to the Restricted Share Award to which they relate.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vi) Shareholder Rights. </B>Unless otherwise determined by the
Board, a Participant will have voting and other rights as a Shareholder with respect to any Ordinary Shares subject to a Restricted Share
Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Restricted Share Unit Awards. </B>Each Restricted Share Unit
Award Agreement will be in such form and will contain such terms and conditions as the Board deems appropriate. The terms and conditions
of Restricted Share Unit Award Agreements may change from time to time, and the terms and conditions of separate Restricted Share Unit
Award Agreements need not be identical or comparable. Each Restricted Share Unit Award Agreement will conform to (through incorporation
of the provisions hereof by reference in the Agreement or otherwise) the substance of each of the following provisions:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Consideration. </B>At the time of grant of a Restricted Share
Unit Award, the Board will determine the consideration, if any, to be paid by the Participant upon delivery of each Ordinary Share subject
to the Restricted Share Unit Award. The consideration to be paid (if any) by the Participant for each Ordinary Share subject to a Restricted
Share Unit Award may be paid in any form of legal consideration that may be acceptable to the Board, in its sole discretion, and permissible
under applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) Vesting. </B>At the time of the grant of a Restricted Share
Unit Award, the Board may impose such restrictions on or conditions to the vesting of the Restricted Share Unit Award as it, in its sole
discretion, deems appropriate.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) Settlement</B>. A Restricted Share Unit Award may be settled
by the delivery of Ordinary Shares, their cash equivalent, any combination thereof or in any other form of consideration, as determined
by the Board and contained in the Restricted Share Unit Award Agreement. At the time of the grant of a Restricted Share Unit Award, the
Board, as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the Ordinary Shares (or their cash
equivalent) subject to a Restricted Share Unit Award to a time after the vesting of such Restricted Share Unit Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) Dividend Equivalents. </B>Dividend equivalents may be credited
in respect of Ordinary Shares covered by a Restricted Share Unit Award, as determined by the Board and contained in the Restricted Share
Unit Award Agreement. At the sole discretion of the Board, such dividend equivalents may be converted into additional Ordinary Shares
covered by the Restricted Share Unit Award in such manner as determined by the Board. Any additional Ordinary Shares covered by the Restricted
Share Unit Award credited by reason of such dividend equivalents will be subject to all of the same terms and conditions of the underlying
Restricted Share Unit Award Agreement to which they relate. Any dividend equivalents distributed under the Plan shall not be counted against
the Share Reserve.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) Termination of Participant&rsquo;s Continuous Service. </B>Except
as otherwise provided in the applicable Restricted Share Unit Award Agreement, such portion of the Restricted Share Unit Award that has
not vested will be forfeited upon the Participant&rsquo;s termination of Continuous Service, and the Participant will have no further
right, title or interest in the Restricted Share Unit Award, the Ordinary Shares issuable pursuant to the Restricted Share Unit Award,
or any consideration in respect of the Restricted Share Unit Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vi) Creditors&rsquo; Rights. </B>The Plan is intended to constitute
an &ldquo;unfunded&rdquo; plan for incentive compensation. The Company shall not be required to establish any special or separate fund
or to segregate any assets to assure the performance of its obligations under the Plan. With respect to any payments not yet made or Ordinary
Shares not yet transferred to a Participant by the Company, nothing contained in the Plan shall give any Participant any rights that are
greater than those of a general creditor of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Other Awards</B>. Other forms of Awards valued in whole or in
part by reference to, or otherwise based on, Ordinary Shares, including the appreciation in value thereof (e.g., options or share rights
with an exercise price or strike price less than one hundred percent (100%) of the Fair Market Value of the Ordinary Shares at the time
of grant) may be granted either alone or in addition to Awards provided for under <U>Section 5</U> and the preceding provisions of this
<U>Section 6</U>. Such Other Awards may include (without limitation) Awards that may vest or may be exercised or a cash Awards that may
vest or become earned and paid contingent on the attainment during a performance period of performance goals or other criteria as the
Board may determine. Subject to the provisions of the Plan, the Board will have sole and complete authority to determine the persons to
whom and the time or times at which such Other Awards will be granted, the number of Ordinary Shares (or the cash equivalent thereof)
to be granted pursuant to such Other Awards, and all other terms and conditions of such Other Awards (including without limitation, with
respect to any performance Awards, the length of the performance period, the performance goals to be achieved during the performance period,
and the measure of whether and to what degree such performance goals have been obtained).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>7. Covenants of the Company.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Availability of Ordinary Shares. </B>The Company will keep available
at all times the number of Ordinary Shares reasonably required to satisfy then-outstanding Awards.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Securities Law Compliance. </B>The
Company will use commercially reasonable efforts to seek to obtain from each regulatory commission or agency having jurisdiction
over the Plan such authority as may be required to grant Awards and to issue and sell Ordinary Shares upon exercise of the Awards; <I>provided,
however, </I>that this undertaking will not require the Company to register the Plan, any Award or any Ordinary Shares issued or
issuable pursuant to any such Award under the Securities Act or other applicable securities regulatory scheme. If, after reasonable
efforts and at a reasonable cost, the Company is unable to obtain from any such regulatory commission or agency the authority that
counsel for the Company deems necessary for the lawful issuance and sale of Ordinary Shares under the Plan, the Company will be
relieved from any liability for failure to issue and sell Ordinary Shares upon exercise of such Awards unless and until such
authority is obtained. A Participant will not be eligible for the grant of an Award or the subsequent issuance of cash or Ordinary
Shares pursuant to the Award if such grant or issuance would be in violation of any applicable securities law or any other
applicable law or regulation.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) No Obligation to Notify or Minimize Taxes. </B>The Company will
have no duty or obligation to any Participant to advise such holder as to the time or manner of exercising such Award. Furthermore, the
Company will have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of an Award or
a possible period in which the Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of an
Award to the holder of such Award</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>8. Miscellaneous.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Use of Proceeds from Sales of Ordinary Share. </B>Proceeds from
the sale of Ordinary Shares pursuant to Awards will constitute general funds of the Company.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Corporate Action Constituting Grant of Awards. </B>Corporate
action constituting a grant by the Company of an Award to any Participant will be deemed completed as of the date of such corporate action,
unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Award is communicated
to, or actually received or accepted by, the Participant. In the event that the corporate records (e.g., Board consents, resolutions or
minutes) documenting the corporate action constituting the grant contain terms (e.g., exercise price, vesting schedule or number of Ordinary
Shares) that are inconsistent with those in the Award Agreement as a result of a clerical error in the papering of the Award Agreement,
the corporate records will control and the Participant will have no legally binding right to the incorrect term in the Award Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Shareholder Rights. </B>No Participant will be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any Ordinary Shares subject to an Award unless and until (i)
such Participant has satisfied all requirements for exercise of, or the issuance of Ordinary Shares under, the Award pursuant to its terms,
including but not limited to, any applicable withholding or tax obligations relating to the Award, and (ii) the issuance of the Ordinary
Shares subject to the Award has been entered into the books and records of the Company and the register of members of the Company has
been accordingly updated. No adjustment shall be made for cash or stock dividends or other rights for which the record date is prior to
the date when such Ordinary Share is issued, except as expressly provided in this Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) </B>No Employment or Other Service Rights. Nothing in the Plan,
any Award Agreement or any other instrument executed thereunder or in connection with any Award granted pursuant thereto will 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 will affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with
or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant&rsquo;s agreement with the Company or an Affiliate,
or (iii) the service of a Director pursuant to the Company&rsquo;s Memorandum and Articles of Association (as amended and/or restated
from time to time) and other constitutional and governance documents of the Company or an Affiliate, and any provisions of the applicable
laws of the jurisdiction in which the Company or the Affiliate is incorporated, as the case may be. Participants shall have no rights
to compensation or damages on account of any loss in respect of all types of Awards or the Plan where such loss arises (or is claimed
to arise), in whole or in part, from: (a) termination of engagement, office or employment with; or (b) notice to terminate engagement,
office or employment given by or to, the Company or any Affiliate or former Affiliate. This exclusion of liability shall apply however
termination of engagement, office or employment, or the giving of notice, is caused, and however compensation or damages may be claimed.
Participants shall have no rights to compensation or damages from the Company or any Affiliate or former Affiliate on account of any loss
in respect of all types of Awards or the Plan where such loss arises (or is claimed to arise), in whole or in part, from: (a) any company
ceasing to be a Affiliate; or (b) the transfer of any business from the Company or any Affiliate to any other person. This exclusion of
liability shall apply however the change of status of the Company or relevant Affiliate, or the transfer of the relevant business, is
caused, and however compensation or damages may be claimed.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) Government and Other Regulations. </B>The obligation of the
Company to make payment of awards in Ordinary Shares or otherwise shall be subject to all applicable laws, and to such approvals by government
agencies as may be required. The Company shall be under no obligation to register any of the Ordinary Shares paid pursuant to the Plan
under the Securities Act or any other similar laws in any applicable jurisdiction. If the Ordinary Shares paid pursuant to the Plan may
in certain circumstance be exempt from registration pursuant to the Securities Act or other applicable laws, the Company may restrict
the transfer of such Ordinary Shares in such manner as it deems advisable to ensure the availability of such exemption. The Company may,
upon advice of counsel to the Company, place legends on share certificates issued under the Plan as such counsel deems necessary or appropriate
in order to comply with applicable securities laws or other applicable laws, including, but not limited to, legends restricting the transfer
of the Ordinary Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(f) Withholding Obligations. </B>Unless prohibited by the terms
of an Award Agreement, the Company may, in its sole discretion, satisfy any tax withholding obligation relating to an Award by any of
the following means or by a combination of such means: (i) causing the Participant to tender a cash payment; (ii) withholding Ordinary
Shares from the Ordinary Shares issued or otherwise issuable to the Participant in connection with the Award; (iii) withholding cash from
an Award settled in cash; (iv) withholding payment from payroll and/or any other amounts otherwise payable to the Participant; (vi) by
allowing a Participant to effectuate a &ldquo;cashless exercise&rdquo;; or (vi) by such other method as may be set forth in the Award
Agreement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(g) Electronic Delivery</B>. Any reference herein to a &ldquo;written&rdquo;
agreement or document will include any agreement or document delivered electronically or posted on the Company&rsquo;s intranet (or other
shared electronic medium controlled by the Company to which the Participant has access).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(h) Deferrals. </B>To the extent permitted by applicable law, the
Board, in its sole discretion, may determine that the delivery of Ordinary Shares or the payment of cash, upon the exercise, vesting or
settlement of all or a portion of any Award may be deferred and may establish programs and procedures for deferral elections to be made
by Participants. The Board is authorized to make deferrals of Awards and determine when, and in what annual percentages, Participants
may receive payments, including lump sum payments, following the Participant&rsquo;s termination of Continuous Service, and implement
such other terms and conditions consistent with the provisions of the Plan and in accordance with applicable law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) Additional Information. </B>The Company shall request the Participant
to provide any information necessary to comply with applicable laws and regulations, including without limitation the Cayman Islands Tax
Information Authority Law (2013 Revision), Tax Information Authority (International Tax Compliance) (United Kingdom) Regulations, 2014,
and Tax Information Authority (International Tax Compliance) (United States of America) Regulations, 2014, and any anti-money laundering
or anti-terrorist laws or regulations (the &ldquo;<B><I>Relevant Regulations</I></B>&rdquo;) and may delay updating the Company&rsquo;s
books and records and register of members until the relevant Participant has provided satisfactory information to the Company. The Company
may disclose any information concerning the Participant necessary to comply with the Relevant Regulations.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(j) Buyout of Awards. </B>The Board may at any time offer to buy
out, and the Participants shall accept such offer, for a payment in cash or cash equivalents (including without limitation Ordinary Shares
issued at Fair Market Value that may or may not be issued under this Plan), an Award previously granted based upon such terms and conditions
as the Board shall establish.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(k) Clawback Policy. </B>The Company may (i) cause the cancellation
of any Award, (ii) require reimbursement of any Award by a Participant, and (iii) effect any other right of recoupment of equity or other
compensation provided under this Plan or otherwise in accordance with Company policies in effect on the date of grant of the applicable
Award and/or applicable law (each, a &ldquo;Clawback Policy&rdquo;). In addition, a Participant may be required to repay to the Company
certain previously paid compensation, whether provided under this Plan or an Award Agreement or otherwise, in accordance with the Clawback
Policy.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(l) Foreign Currency. </B>A Participant may be required to provide
evidence that any currency used to pay the exercise or strike price of any Award was acquired and taken out of the jurisdiction in which
the Participant resides in accordance with applicable laws, including foreign exchange control laws and regulations.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>9. Adjustments upon Changes in Ordinary Share; Other Corporate Events.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Capitalization Adjustments</B>. In the event of a Capitalization
Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and maximum number of securities subject to the
Plan pursuant to <U>Section 3(a)</U>, (ii) the class(es) and maximum number of securities that may be issued pursuant to the exercise
of Incentive Share Options pursuant to <U>Section 3(b)</U>, (iii) the class(es) and number of securities and price per share of Ordinary
Shares subject to outstanding Awards, or (iv) the issuer of the Awards. The Board will make such adjustments, and its determination will
be final, binding and conclusive.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) </B>In the event of any change in the capitalization of the
Company or corporate change other than those specifically referred to in <U>Section 9(a)</U>, including without limitation, any extraordinary
cash dividend, spin-off, split-off, sale of a Subsidiary or business unit, public listing of a Subsidiary, or other similar transaction,
the Board may make such adjustments in the issuer, number and class of shares subject to Awards outstanding on the date on which such
change occurs, such as, for example, a rollover of Awards, as the Board may consider appropriate.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Dissolution or Liquidation</B>. Except as otherwise provided
in the Award Agreement, in the event of a dissolution or liquidation of the Company, all outstanding Awards (other than Awards consisting
of vested and outstanding Ordinary Shares not subject to a forfeiture condition or the Company&rsquo;s right of repurchase) will terminate
immediately prior to the completion of such dissolution or liquidation, and the Ordinary Shares subject to the Company&rsquo;s repurchase
rights or subject to a forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of
such Award is providing Continuous Service, <I>provided, however, </I>that the Board may, in its sole discretion, cause some or all Awards
to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Awards have not previously
expired or terminated) before the dissolution or liquidation is completed but contingent on its completion.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Corporate Transactions. </B>The following provisions will apply
to Awards in the event of a Transaction unless otherwise provided in the Award Agreement or any other written agreement between the Company
or any Affiliate and the Participant or unless otherwise expressly provided by the Board at the time of grant of an Award. In the event
of a Transaction, then, notwithstanding any other provision of the Plan, the Board may take one (1) or more of the following actions with
respect to Awards, contingent upon the closing or completion of the Transaction:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>arrange for the surviving corporation or acquiring corporation
(or the surviving or acquiring corporation&rsquo;s parent company) to assume or continue the Award or to substitute a similar award for
the Award (including, but not limited to, an award to acquire the same consideration (including property with the same value as the consideration)
paid to the Shareholders pursuant to the Transaction);</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B>arrange for the assignment of any reacquisition or repurchase
rights held by the Company in respect of Ordinary Shares issued pursuant to the Award to the surviving corporation or acquiring corporation
(or the surviving or acquiring corporation&rsquo;s parent company);</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) </B>accelerate the vesting, in whole or in part, of the Award
(and, if applicable, the time at which the Award may be exercised) to a date prior to the effective time of such Transaction as the Board
determines (or, if the Board does not determine such a date, to the date that is five (5) days prior to the effective date of the Transaction),
with such Award terminating if not exercised (if applicable) at or prior to the effective time of the Transaction; provided, however,
that the Board may require Participants to complete and deliver to the Company a notice of exercise before the effective date of a Transaction,
which exercise is contingent upon the effectiveness of such Transaction;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) </B>arrange for the lapse, in whole or in part, of any reacquisition
or repurchase rights held by the Company with respect to the Award;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) </B>cancel or arrange for the cancellation of the Award, to
the extent not vested or not exercised prior to the effective time of the Transaction, in exchange for such cash consideration, if any,
as the Board, in its sole discretion, may consider appropriate; and</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vi) </B>make a payment, in such form as may be determined by the
Board equal to the excess, if any, of (A) the value of the property the Participant would have received upon the exercise of the Award
immediately prior to the effective time of the Transaction, over (B) any exercise price payable by such holder in connection with such
exercise. For clarity, this payment may be zero ($0) and the Award may be cancelled with no consideration if the cash, value of the property
or a combination of both that the Participant would be scheduled to receive at the consummation of the Transaction is equal to or less
than the exercise price. Payments under this provision may be delayed or forfeited to the same extent that payment of consideration to
the holders of the Company&rsquo;s Ordinary Shares in connection with the Transaction is delayed or forfeited as a result of escrows,
earn outs, holdbacks or any other contingencies.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board need not take the same action or actions with respect to
all Awards or portions thereof or with respect to all Participants. The Board may take different actions with respect to the vested and
unvested portions of an Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) Change in Control. </B>An Award may be subject to additional
acceleration of vesting and exercisability upon or after a Change in Control as may be provided in the Award Agreement for such Award
or as may be provided in any other written agreement between the Company or any Affiliate and the Participant, but in the absence of such
provision, no such acceleration will occur without Board action.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>10. Plan Term; Earlier Termination or Suspension of the Plan</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Plan Term. </B>The Board may suspend or terminate the Plan at
any time. Unless terminated sooner by the Board, the Plan will automatically terminate on the day before the tenth anniversary of the
Effective Date; provided, no Incentive Share Options shall be granted on or after the earlier of (i) the tenth anniversary of the date
the Plan is adopted by the Board, or (ii) the tenth anniversary of the date the Plan is approved by the Shareholders. No Awards may be
granted under the Plan while the Plan is suspended or after it is terminated.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) No Impairment of Rights. </B>Suspension or termination of the
Plan will not impair rights and obligations under any Award granted while the Plan is in effect except with the written consent of the
affected Participant or as otherwise permitted in the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>11. Additional Provisions Applicable to U.S. Participants.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Incentive Share Options.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>Incentive Share Options may be granted only to employees
of the Company or a &ldquo;parent corporation&rdquo; or &ldquo;subsidiary corporation&rdquo; thereof (as such terms are defined in Sections
424(e) and (f) of the Code, respectively).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B>A Ten Percent Shareholder shall not be granted an Incentive
Share Option unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value on the date
of grant and the Option is not exercisable after the expiration of five (5) years from the date of grant or such shorter period specified
in the Award Agreement. &ldquo;<B><I>Ten Percent Shareholder</I></B>&rdquo; means a person who Owns (or is deemed to Own pursuant to Section
424(d) of the Code) Capital Shares possessing more than ten percent (10%) of the total combined voting power of all classes of shares
of the Company or any &ldquo;parent corporation&rdquo; or &ldquo;subsidiary corporation&rdquo; of the Company, as such terms are defined
in Sections 424(e) and (f) of the Code, respectively..</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) </B>To the extent that the aggregate Fair Market Value (determined
at the time of grant) of Ordinary Shares with respect to which Incentive Share Options are exercisable for the first time by any Optionholder
during any calendar year (under all plans of the Company and any Affiliates) exceeds one hundred thousand dollars ($100,000) (or such
other limit established in the Code) or otherwise does not comply with the rules governing Incentive Share Options, the Options or portions
thereof that exceed such limit (according to the order in which they were granted) or otherwise do not comply with such rules will be
treated as Nonstatutory Share Options, notwithstanding any contrary provision of the applicable Option Agreement(s).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Compliance with Section 409A of the Code. </B>To the extent
that the Board determines that any Award granted hereunder is subject to Section 409A of the Code, the Award Agreement evidencing such
Award shall incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code. To the
extent applicable, the Plan and Award Agreements shall be interpreted in accordance with Section 409A of the Code. In the event that any
provision of the Plan or an Award agreement is determined by the Board to not comply with the applicable requirements of Section 409A
of the Code or the Treasury Regulations or other guidance issued thereunder, the Board shall have the authority to take such actions and
to make such changes to the Plan or an Award Agreement as the Board deems necessary to comply with such requirements (including without
limitation, after the grant date of an Award, increasing the exercise price to equal what was the Fair Market Value on the grant date
of the Award). Each payment to a Participant made pursuant to this Plan shall be considered a separate payment and not one of a series
of payments for purposes of Section 409A of the Code. Notwithstanding the foregoing or anything elsewhere in the Plan or an Award Agreement
to the contrary, if upon a Participant&rsquo;s Separation From Service (as defined in Section 409A of the Code), he/she is then a &ldquo;specified
employee&rdquo; (as defined in Section 409A of the Code), then solely to the extent necessary to comply with Section 409A of the Code
and avoid the imposition of taxes under Section 409A of the Code, the Company shall defer payment of &ldquo;nonqualified deferred compensation&rdquo;
subject to Section 409A of the Code payable as a result of and within six (6) months following such Separation From Service under this
Plan until the earlier of (i) the first business day of the seventh month following the Participant&rsquo;s Separation From Service, or
(ii) ten (10) days after the Company receives written confirmation of the Participant&rsquo;s death. Any such delayed payments shall be
made without interest. While it is intended that all payments and benefits provided under this Plan will be exempt from or comply with
Section 409A of the Code, the Company makes no representation or covenant to ensure that the Awards and payments under this Plan are exempt
from or compliant with Section 409A of the Code. The Company will have no liability to any Participant or any other party if a payment
or benefit under this Plan or any Award is challenged by any taxing authority or is ultimately determined not to be exempt or compliant.
Each Participant further understands and agrees that each Participant will be entirely responsible for any and all taxes on any benefits
payable to the Participant as a result of this Plan or any Award. In no event whatsoever shall the Company be liable for any additional
tax, interest or penalties that may be imposed on a Participant by Section 409A of the Code or for any damages for failing to comply with
Section 409A of the Code.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) Compliance with Section 457A of the Code.</B> Notwithstanding
any provision of the Plan or an Award Agreement to the contrary, to the extent that the Board determines in its sole discretion that the
amount payable or Ordinary Shares issuable under any Award would be taxable to the Participant under Section 457A of the Code in the year
such Award is no longer subject to a substantial risk of forfeiture, then the amount payable or Ordinary Shares issuable under such Award
shall be paid or issued to the Participant as soon as reasonably practicable after such substantial risk of forfeiture lapses (or, for
Awards that are not considered nonqualified deferred compensation subject to Section 409A of the Code, no later than the end of the short-term
deferral period permitted by Section 457A of the Code).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Section 280G of the Code. </B>Notwithstanding any provision
of the Plan or an Award Agreement to the contrary, if any payment or benefit that a U.S. Participant would receive pursuant to the Plan
or an Award Agreement or any other agreement and/or arrangement with the Company or any of its Affiliates (a &ldquo;<B><I>Payment</I></B>&rdquo;)
would (i) constitute a &ldquo;parachute payment&rdquo; within the meaning of Section 280G of the Code, and (ii) but for this sentence,
be subject to the excise tax imposed by Section 4999 of the Code (the &ldquo;<B><I>Excise Tax</I></B>&rdquo;), then such Payment will
be equal to the Reduced Amount. The &ldquo;<B><I>Reduced Amount</I></B>&rdquo; will be either (x) the largest portion of the Payment that
would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total, of
the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the
Excise Tax (all computed at the highest applicable marginal rate), results in the U.S. Participant&rsquo;s receipt, on an after-tax basis,
of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction
in payments or benefits constituting &ldquo;parachute payments&rdquo; is necessary so that the Payment equals the Reduced Amount, reduction
will occur in the manner that results in the greatest economic benefit for the U.S. Participant, generally with such reduction made first
from amounts that are not subject to Section 409A of the Code and, if necessary, from amounts that are subject to Section 409A of the
Code in reverse chronological order or, if more than one (1) method of reduction will result in the same economic benefit, the items so
reduced will be reduced pro rata.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>12. Choice of Law; Arbitration.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) Governing Law. </B>The laws of the Cayman Islands will govern
all questions concerning the construction, validity and interpretation of this Plan, without regard to that state&rsquo;s conflict of
laws rules.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) Dispute Resolution. </B>All and any of the disputes arising
from and in connection with this Agreement shall be referred to and finally resolved by arbitration in Singapore in accordance with the
Arbitration Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated
by reference in this clause. For the avoidance of doubt, the law of the arbitration shall be governed by the International Arbitration
Act (Chapter 143A, 2002 Ed, Statutes of the Republic of Singapore) or its modification or re-enactment thereof.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>13. Definitions</B>. As used in the Plan, the following definitions
will apply to the capitalized terms indicated below:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a) </B>&ldquo;<B><I>Affiliate</I></B>&rdquo; means, at the time
of determination, (i) any Subsidiary and any &ldquo;parent corporation&rdquo; or &ldquo;subsidiary corporation&rdquo; of the Company,
as such terms are defined in Sections 424(e) and (f) of the Code, respectively, and (ii) any other entity that, directly or indirectly,
controls, is controlled by or is under common control with the Company and/or one (1) or more Subsidiaries. For the purposes of this definition,
&ldquo;control&rdquo; of a given entity means possessing the power or authority, whether exercised or not, to direct the business, management
and policies of such entity, directly or indirectly, whether through the ownership of voting securities, by contract, arrangement, understanding,
relationship or otherwise, which power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or
power to direct the vote of more than thirty percent (30%) of the votes entitled to be cast at a meeting of the members or shareholders
of such entity or power to control the composition of at least thirty percent (30%) a majority of the board of directors of such entity;
the term &ldquo;controlled&rdquo; has the meaning correlative to the foregoing. The Board will have the authority to determine the time
or times at which &ldquo;parent corporation&rdquo; or &ldquo;subsidiary corporation&rdquo; or &ldquo;control&rdquo; status is determined
within the foregoing definition.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b) </B>&ldquo;<B><I>Award</I></B>&rdquo; means any right to receive
Ordinary Shares granted under the Plan, including an Option, a Restricted Share Award, a Restricted Share Unit Award, a Share Appreciation
Right or any Other Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c) </B>&ldquo;<B><I>Award Agreement</I></B>&rdquo; means a written
agreement between the Company and a Participant evidencing the terms and conditions of an Award grant. Each Award Agreement will be subject
to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) </B>&ldquo;<B><I>Board</I></B>&rdquo; means the board of Directors.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(e) </B>&ldquo;<B><I>Capital Shares</I></B>&rdquo; means each and
every class of ordinary shares of the Company, regardless of the number of votes per share.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(f) </B>&ldquo;<B><I>Capitalization Adjustment</I></B>&rdquo; means
any change that is made in, or other events that occur with respect to, the Ordinary Shares subject to the Plan or subject to any Award
after the Effective Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization,
reincorporation, share dividend, dividend in property other than cash, large nonrecurring cash dividend, share split, reverse share split,
liquidating dividend, combination of shares, exchange of shares, change in corporate structure, or any similar equity restructuring transaction.
Notwithstanding the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(g) </B>&ldquo;<B><I>Cause</I></B>&rdquo; will have the meaning
ascribed to such term in any written agreement between the Participant and the Company or an Affiliate defining such term and, which is
in effect on the applicable grant date of the Award and, in the absence of such agreement, such term means, with respect to a Participant,
the occurrence of any of the following events: (i) such Participant&rsquo;s commission of any felony or any crime involving fraud, dishonesty
or moral turpitude under the laws of the applicable jurisdiction; (ii) such Participant&rsquo;s attempted commission of, or participation
in, a fraud or act of dishonesty against the Company or an Affiliate; (iii) such Participant&rsquo;s intentional, material violation of
any material Company or Affiliate policy applicable to the Participant or any contract or agreement between the Participant and the Company
or an Affiliate or of any statutory duty owed to the Company or an Affiliate; (iv) such Participant&rsquo;s unauthorized use or disclosure
of the Company&rsquo;s or an Affiliate&rsquo;s confidential information or trade secrets (subject to any whistleblower, defense of trade
secrets and similar limitations therein); (v) such Participant&rsquo;s negligence or poor performance (to be determined at the sole discretion
of the Company); (vi) such Participant resigning or terminating their Continuous Service in breach of the contract with the Company or
an Affiliate (as applicable); or (vii) such Participant&rsquo;s gross misconduct. The determination that a termination of the Participant&rsquo;s
Continuous Service is either for Cause or without Cause will be made by the Company, in its sole discretion. Any determination by the
Company that the Continuous Service of a Participant was terminated with or without Cause for the purposes of outstanding Awards held
by such Participant will have no effect upon any determination of the rights or obligations of the Company or such Participant for any
other purpose.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(h) </B>&ldquo;<B><I>Change in Control</I></B>&rdquo; means the
occurrence, in a single transaction or in a series of related transactions, of any one (1) or more of the following events:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>any Exchange Act Person becomes the Owner, directly or indirectly,
of securities of the Company representing more than 50% of the combined voting power of the Company&rsquo;s then outstanding securities
other than by virtue of a merger, consolidation or similar transaction. Notwithstanding the foregoing, a Change in Control shall not be
deemed to occur (A) on account of the acquisition of securities of the Company directly from the Company, (B) on account of the acquisition
of securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person that acquires the Company&rsquo;s
securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through
the issuance of equity securities, or (C) solely because the level of Ownership held by any Exchange Act Person (the &ldquo;<B><I>Subject
Person</I></B>&rdquo;) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or
other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control
would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such
share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition
had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage
threshold, then a Change in Control shall be deemed to occur;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B>there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar
transaction, the Shareholders immediately prior thereto do not Own, directly or indirectly, either (A) outstanding voting securities representing
more than fifty percent (50%) of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar
transaction or (B) more than fifty percent (50%) of the combined outstanding voting power of the parent of the surviving Entity in such
merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding
voting securities of the Company immediately prior to such transaction;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iii) </B>the Shareholders approve or the Board approves a plan
of complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company will otherwise occur, except
for a liquidation into a parent corporation; or</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(iv) </B>there is consummated a sale, lease, exclusive license or
other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease,
license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity,
more than fifty percent (50%) of the combined voting power of the voting securities of which are Owned by Shareholders in substantially
the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license
or other disposition.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notwithstanding the foregoing definition or any other provision of
this Plan, the term Change in Control will not include a sale of assets, merger or other transaction effected exclusively for the purpose
of changing the domicile of the Company.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If required for compliance with Section 409A of the Code, in no event
will a Change in Control be deemed to have occurred if such transaction is not also a &ldquo;change in the ownership or effective control
of&rdquo; the Company or &ldquo;a change in the ownership of a substantial portion of the assets of&rdquo; the Company as determined under
Treasury Regulation Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(i) </B>&ldquo;<B><I>Class A Ordinary Shares</I></B>&rdquo; means
Class A ordinary shares of the Company, par value $0.0001 per share.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(j) </B>&ldquo;<B><I>Class B Ordinary Shares</I></B>&rdquo; means
Class B ordinary shares of the Company, par value $0.0001 per share</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(k) </B>&ldquo;<B><I>Code</I></B>&rdquo; means the U.S. Internal
Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(l) </B>&ldquo;<B><I>Committee</I></B>&rdquo; means a committee
of one (1) or more Directors to whom authority has been delegated by the Board in accordance with <U>Section 2(c)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(m) </B>&ldquo;<B><I>Company</I></B>&rdquo; means SAI.TECH Global
Corporation (formerly named TradeUP Global Corporation), a Cayman Islands exempted company incorporated with limited liability with company
number 370735.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(n) </B>&ldquo;<B><I>Consultant</I></B>&rdquo; means any person,
including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory services and is compensated for
such services, or (ii) serving as a member of the board of directors of an Affiliate and is compensated for such services. However, service
solely as a Director, or payment of a fee for such service, will not cause a Director to be considered a &ldquo;Consultant&rdquo; for
purposes of the Plan. Notwithstanding the foregoing, a person is treated as a Consultant under this Plan only if a Form S-8 Registration
Statement under the Securities Act is available to register either the offer or the sale of the Company&rsquo;s securities to such person.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(o) </B>&ldquo;<B><I>Continuous Service</I></B>&rdquo; means that
the Participant&rsquo;s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or
terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Director
or Consultant or a change in the Entity for which the Participant renders such service, provided that there is no interruption or termination
of the Participant&rsquo;s service with the Company or an Affiliate, will not terminate a Participant&rsquo;s Continuous Service; <I>provided,
however</I>, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the
Board in its sole discretion, such Participant&rsquo;s Continuous Service will be considered to have terminated on the date such Entity
ceases to qualify as an Affiliate. For example, a change in status from an Employee of the Company to a Consultant of an Affiliate or
to a Director will not constitute an interruption of Continuous Service. To the extent permitted by law, the Board or the chief executive
officer of the Company, in that party&rsquo;s sole discretion, may determine whether Continuous Service will be considered interrupted
in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any
other personal leave, or (ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a leave
of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the Company&rsquo;s
leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise
required by law.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(p) </B>&ldquo;<B><I>Director</I></B>&rdquo; means a director of
the Company.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(q) </B>&ldquo;<B><I>Disability</I></B>&rdquo; means, with respect
to a Participant, the inability of such Participant to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period
of not less than twelve (12) months, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted
under the circumstances.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(r) </B>&ldquo;<B><I>Effective Date</I></B>&rdquo; has the meaning
set forth in <U>Section 1(a)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(s) </B>&ldquo;<B><I>Employee</I></B>&rdquo; means any person employed
by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such services, will not cause a Director
to be considered an &ldquo;Employee&rdquo; for purposes of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(t) </B>&ldquo;<B><I>Entity</I></B>&rdquo; means a corporation,
partnership, limited liability company or other entity.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(u) </B>&ldquo;<B><I>Exchange Act</I></B>&rdquo; means the U.S.
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(v) </B>&ldquo;<B><I>Exchange Act Person</I></B>&rdquo; means any
natural person, entity or &ldquo;group&rdquo; (within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that &ldquo;Exchange
Act Person&rdquo; will not include (i) the Company or any Subsidiary of the Company, (ii) any employee benefit plan of the Company or
any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any
Subsidiary of the Company, (iii) an underwriter temporarily holding securities pursuant to a registered public offering of such securities,
(iv) an entity Owned, directly or indirectly, by the Shareholders in substantially the same proportions as their Ownership of stock of
the Company; (v) any natural person, Entity or &ldquo;group&rdquo; (within the meaning of Section 13(d) or 14(d) of the Exchange Act)
that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined
voting power of the Company&rsquo;s then outstanding securities; or (vi) any holder of Class B Ordinary Shares as of the Effective Date.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(w) </B>&ldquo;<B><I>Fair Market Value</I></B>&rdquo; means a price
that is based on the opening, closing, actual, high, low, or average selling prices of an Ordinary Share reported on NASDAQ or such other
established stock exchange on which the Ordinary Shares are principally traded on the applicable date, the preceding trading day, the
next succeeding trading day, or an average of trading days, as determined by the Committee in its discretion. Unless the Committee determines
otherwise, Fair Market Value shall be deemed to be equal to the reported closing price of an Ordinary Share on the date as of which such
value is being determined or, if there shall be no reported transactions for such date, on the preceding date for which transactions were
reported; provided, however, that if the Ordinary Shares are not publicly traded at the time a determination of their value is required
to be made hereunder, the determination of their Fair Market Value shall be made by the Committee in such manner as it deems appropriate
and in accordance with Section 409A of the Code.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(x) </B> &ldquo;<B><I>Incentive Share Option</I></B>&rdquo; means
an Option that is intended to be, and that qualifies as, an &ldquo;incentive stock option&rdquo; within the meaning of Section 422 of
the Code.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(y) </B>&ldquo;<B><I>Memorandum and Articles</I></B>&rdquo; means
the memorandum and articles of association of the Company, as amended.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(z) </B> &ldquo;<B><I>Non-Employee Director</I></B>&rdquo; means
a Director who is not an Employee.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(aa) </B> &ldquo;<B><I>Nonstatutory Share Option</I></B>&rdquo;
means any Option that is not an Incentive Stock Option.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(bb) </B> &ldquo;<B><I>Officer</I></B>&rdquo; means any person designated
by the Company as an officer.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(cc) </B> &ldquo;<B><I>Option</I></B>&rdquo; means an option to
purchase Ordinary Shares granted pursuant to the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(dd) </B> &ldquo;<B><I>Option Agreement</I></B>&rdquo; means a written
agreement between the Company and an Optionholder evidencing the terms and conditions of an Option grant. Each Option Agreement will be
subject to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ee) </B> &ldquo;<B><I>Optionholder</I></B>&rdquo; means a person
to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ff) </B> &ldquo;<B><I>Ordinary Shares</I></B>&rdquo; means Class
A Ordinary Shares.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(gg) </B> &ldquo;<B><I>Other Award</I></B>&rdquo; means an award
based in whole or in part by reference to the Ordinary Shares which is granted pursuant to the terms and conditions of <U>Section 6(c)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(hh) </B> &ldquo;<B><I>Other Award Agreement</I></B>&rdquo; means
a written agreement between the Company and a holder of an Other Award evidencing the terms and conditions of an Other Award grant. Each
Other Award Agreement will be subject to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ii) </B> &ldquo;<B><I>Own</I></B>,&rdquo; &ldquo;<B><I>Owned</I></B>,&rdquo;
&ldquo;<B><I>Owner</I></B>,&rdquo; &ldquo;<B><I>Ownership</I></B>&rdquo; means a person or Entity will be deemed to &ldquo;Own,&rdquo;
to have &ldquo;Owned,&rdquo; to be the &ldquo;Owner&rdquo; of, or to have acquired &ldquo;Ownership&rdquo; of securities if such person
or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power,
which includes the power to vote or to direct the voting, with respect to such securities.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(jj) </B> &ldquo;<B><I>Participant</I></B>&rdquo; means a person
to whom an Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(kk) </B> &ldquo;<B><I>Plan</I></B>&rdquo; means this SAI.TECH Global
Corporation 2023 Equity Incentive Plan, as may be amended and/or amended and restated from time to time.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ll) </B> &ldquo;<B><I>Restricted Share Award</I></B>&rdquo; means
an award of Ordinary Shares which is granted pursuant to the terms and conditions of <U>Section 6(a)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(mm) <FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&ldquo;</I></FONT><I>Restricted
Shares&rdquo;</I></B> means shares issued in accordance with a Restricted Share Award.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(nn) </B> &ldquo;<B><I>Restricted Share Award Agreement</I></B>&rdquo;
means a written agreement between the Company and a holder of a Restricted Share Award evidencing the terms and conditions of a Restricted
Share Award grant. Each Restricted Share Award Agreement will be subject to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(oo) </B> &ldquo;<B><I>Restricted Share Unit Award</I></B>&rdquo;
means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of <U>Section 6(b)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(pp) </B> &ldquo;<B><I>Restricted Share Unit Award Agreement</I></B>&rdquo;
means a written agreement between the Company and a holder of a Restricted Share Unit Award evidencing the terms and conditions of a Restricted
Share Unit Award grant. Each Restricted Share Unit Award Agreement will be subject to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(qq) </B> &ldquo;<B><I>Securities Act</I></B>&rdquo; means the U.S.
Securities Act of 1933, as amended.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(rr) </B> &ldquo;<B><I>Share Appreciation Right</I></B>&rdquo; or
&ldquo;<B><I>SAR</I></B>&rdquo; means a right to receive the appreciation on Ordinary Shares that is granted pursuant to the terms and
conditions of <U>Section 5</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ss) </B> &ldquo;<B><I>Share Appreciation Right Agreement</I></B>&rdquo;
means a written agreement between the Company and a holder of a Share Appreciation Right evidencing the terms and conditions of a Share
Appreciation Right grant. Each Share Appreciation Right Agreement will be subject to the terms and conditions of the Plan.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(tt) </B> &ldquo;<B><I>Share Reserve</I></B>&rdquo; means the aggregate
number of Ordinary Shares available for issuance pursuant to Awards from and after the Effective Date under the Plan as set forth in <U>Section
3(a)</U>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(uu) </B>&ldquo;<B><I>Shareholders</I></B>&rdquo; means the shareholders
of the Company.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(vv) </B> &ldquo;<B><I>Subsidiary</I></B>&rdquo; means, with respect
to the Company, (i) any corporation of which more than fifty percent (50%) of the outstanding capital shares having ordinary voting power
to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, share of any other class or classes
of such corporation will have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly,
Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or indirect
interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(ww) </B> &ldquo;<B><I>Substitute Awards</I></B>&rdquo; means Awards
granted or Ordinary 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(xx) </B> <I>&ldquo;<B>Transaction</B></I>&rdquo; means a Corporate
Transaction or a Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(yy) </B> &ldquo;<B><I>U.S.</I></B>&rdquo; means the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(zz) </B> &ldquo;<B><I>U.S. Participant</I></B>&rdquo; means a Participant
that is either a U.S. resident or a U.S. taxpayer.</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></P>

<P STYLE="margin: 0pt"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ea185158ex99-1_saitech.htm
<DESCRIPTION>VOTING RESULTS OF 2023 ANNUAL GENERAL MEETING OF SAI.TECH GLOBAL CORPORATION
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Voting Results of 2023 Annual General Meeting
of SAI.TECH Global Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 6, 2023, SAI.TECH Global Corporation
(the &ldquo;Company&rdquo;) held its 2023 Annual General Meeting of shareholders virtually at www.virtualshareholdermeeting.com/SAI2023
(the &ldquo;AGM&rdquo;). The notice of the AGM (the &ldquo;Notice of AGM&rdquo;) was duly given on August 3, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The board of directors (the &ldquo;Board&rdquo;)
of the Company is pleased to announce that all the shareholder proposals submitted for shareholder approval (the &ldquo;Proposals&rdquo;)
as set forth in the Notice of AGM have been duly adopted at the AGM.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the close of business on July 27, 2023, the
record date for the determination of shareholders entitled to vote at the AGM (the &ldquo;Record Date&rdquo;), there were 14,113,299 Class
A ordinary shares, each entitled to one vote, and 9,630,634 Class B ordinary shares, each entitled to 10 votes, issued and outstanding,
consisting of all the voting securities of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Present, in person or by proxy, at the AGM were
holders of an aggregate of 13,477,088 shares of the Company&rsquo;s Class A and Class B ordinary shares (including 3,846,454 Class A ordinary
shares and 9,630,634 Class B ordinary shares), representing approximately 56.76% of the Class A ordinary shares and Class B ordinary shares
issued and outstanding as of the Record Date, constituting a quorum with a total of 100,152,794 votes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The vote results in respect of the Proposals at
the AGM are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Proposal No. 1</B>. At the AGM, the vote to
elect the following nominee to the Company&rsquo;s Board as a Class I Director to hold office until the 2026 annual general meeting of
shareholders, or until their earlier death, resignation or removal, was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">FOR</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">AGAINST</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">ABSTAIN</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">BROKER<BR>
 NON-VOTE</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: justify; padding-bottom: 1.5pt">Li Risheng</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">100,099,744</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">53,050</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Proposal No. 2</B>. At the AGM, the vote to ratify
the election of the following two nominees to the Company&rsquo;s Board as Class II Directors, each to hold office until the 2024 annual
general meeting or until their earlier death, resignation or removal, was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">FOR</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">AGAINST</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">ABSTAIN</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">BROKER NON-VOTE</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: justify; padding-bottom: 1.5pt">Chen Yusen</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">100,101,403</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">51,387</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;4</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">Shi Yao</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">100,101,403</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">51,387</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Proposal No. 3</B>. At the AGM, the vote to ratify
the election of the following two nominees to the Company&rsquo;s Board as Class III Directors, each to hold office until the 2025 annual
general meeting or until their earlier death, resignation or removal, was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">FOR</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">AGAINST</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">ABSTAIN</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">BROKER<BR>
 NON-VOTE</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: justify; padding-bottom: 1.5pt">Ge Hao</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">100,101,616</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">51,174</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt">Zhu Jinlong</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">100,096,397</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">56,393</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Proposal No. 4</B>. At the AGM, the vote to ratify
the appointment of Audit Alliance LLP as the independent registered public accounting firm of the Company for the fiscal year ended December
31, 2022, and for the fiscal year ended December 31, 2023, was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">FOR</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">AGAINST</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">ABSTAIN</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 31%; text-align: center">100,148,429</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 31%; text-align: center">4,361</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 30%; text-align: center">4</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Proposal No. 5</B>. At the AGM, the vote to approve
the Company&rsquo;s 2023 Equity Incentive Plan was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">FOR</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">AGAINST</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">ABSTAIN</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; text-align: center">BROKER<BR> NON-VOTE</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 23%; text-align: center">100,092,724</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 22%; text-align: center">59,068</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 22%; text-align: center">1,002</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 22%; text-align: center">0</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>ea185158ex99-2_saitech.htm
<DESCRIPTION>PRESS RELEASE DATED SEPTEMBER 14, 2023 - SAI.TECH ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SAI.TECH Announces Results of Annual General
Meeting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Singapore, Sept. 14, 2023 (GLOBAL NEWSWIRE)</B>
&mdash; SAI.TECH Global Corporation (&ldquo;SAI.TECH&rdquo; or &ldquo;SAI&rdquo; or the &ldquo;Company&rdquo;, NASDAQ: SAI, SAITW) today
announced that all of the shareholder proposals submitted for shareholder approval (the &ldquo;Proposals&rdquo;) as set forth in the notice
of annual general meeting dated August 3, 2023 (the &ldquo;Notice of AGM&rdquo;) have been duly adopted at its annual general meeting
of shareholders held virtually at www.virtualshareholdermeeting.com/SAI2023 on September 6, 2023 (the &ldquo;AGM&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After the adoption of the Proposals, all corporate
authorizations and actions contemplated thereunder were approved, including, among other things, that (i) Mr. Risheng Li is re-elected
as a Class I Director of the Company, (ii) the elections of Mr. Yusen Chen and Mr. Yao Shi as Class II Directors of the Company are ratified,
(iii) the elections of Mr. Hao Ge and Mr. Jinlong Zhu as Class III Directors of the Company are ratified, (iv) the appointment of Audit
Alliance LLP as the independent registered public accounting firm of the Company for the fiscal year ended December 31, 2022 and for the
fiscal year ended December 31, 2023 is ratified and approved, and (v) the Company&rsquo;s 2023 Equity Incentive Plan is approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About SAI.TECH</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SAI.TECH is a Nasdaq-listed (SAI) company headquartered
in Singapore. SAI is dedicated to providing a zero-carbon energy system (HEATNUC) based on Small Modular Reactor, providing clean computing
services based on liquid cooling and chip waste heat utilization technology (ULTIWIT), and providing cloud computing services based on
blockchain and AI technology (BOLTBIT).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2022, SAI became a publicly traded company
under the new ticker symbol &ldquo;SAI&rdquo; on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation (&ldquo;TradeUP&rdquo;).
For more information on SAI.TECH, please visit https://sai.tech/.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Safe Harbor Statement:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words &ldquo;believe&rdquo;, &ldquo;expect&rdquo;,
&ldquo;anticipate&rdquo;, &ldquo;project&rdquo;, &ldquo;targets&rdquo;, &ldquo;optimistic&rdquo;, &ldquo;confident that&rdquo;, &ldquo;continue
to&rdquo;, &ldquo;predict&rdquo;, &ldquo;intend&rdquo;, &ldquo;aim&rdquo;, &ldquo;will&rdquo; or similar expressions are intended to identify
forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking
statements. These forward-looking statements include, but not limited to, statements concerning SAI.TECH and the Company&rsquo;s operations,
financial performance, and condition are based on current expectations, beliefs and assumptions which are subject to change at any time.
SAI.TECH cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending
on a variety of important factors such as government and stock exchange regulations, competition, political, economic, and social conditions
around the world including those discussed in SAI.TECH&rsquo;s Form 20-F under the headings &ldquo;Risk Factors&rdquo;, &ldquo;Results
of Operations&rdquo; and &ldquo;Business Overview&rdquo; and other reports filed with the Securities and Exchange Commission from time
to time. All forward-looking statements are applicable only as of the date it is made and SAI.TECH specifically disclaims any obligation
to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">pr@sai.tech</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investor Relations Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ir@sai.tech</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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