Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Mr. Gerald T. Neal, an independent
director of Akso Health Group (the “Company”), member of the audit committee of the board of directors of the Company
(the “Board”), chair of the compensation committee and member of the nominating & corporate governance committee
of the Board, notified the Company of his resignation as a director for personal reasons, effective February 28, 2026. Mr. Neal’s
resignation from the Board was not a result of any disagreement with the Company on any matter related to the operations, policies, or
practices of the Company.
Effective on March 16, 2026,
the board of directors of the Company appointed Mr. Jianqiang Xu, a new independent director of the Board, as member of the audit committee
of the Board, chair of the compensation committee and member of the nominating & corporate governance committee of the Board. The
biographical information of Mr. Neal is set forth below.
Mr. Jianqiang Xu, aged 62, has
extensive experience in neurosurgery and hospital administration. Mr. Xu currently serves as Director of the Department of Neurosurgery,
Vice President, and President of Fengfeng Group General Hospital, a Class III Grade A hospital in China since 2016. He specializes in
the microsurgical treatment of intracranial and intraspinal tumors. Mr. Xu has published more than 40 academic papers in core journals
and SCI-indexed publications and has edited four professional books. He has also spoken at certain provincial, national, and international
neurosurgery and trauma conferences in September 2017. Mr. Xu received a bachelor’s degree in Medicine in 1986 and a master’s
degree in Surgery in June 2001.
Mr. Xu does not have a family
relationship with any director or executive officer of the Company and has not been involved in any transaction with the Company during
the past two years that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Xu also entered into a
director offer letter (the “Offer Letter”) with the Company which establishes other terms and conditions governing
his service to the Company. The Offer Letter is qualified in its entirety by reference to the complete text of the Offer Letter, which
is filed hereto as Exhibit 99.1.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
AKSO HEALTH GROUP
Room 8201-4-4(A), 2nd
Floor, Qiantongyuan Building,
No. 44, Moscow Road, Qianwan
Bonded Port Area,
Qingdao Pilot Free
Trade Zone, China (Shandong)
People’s Republic of China
March 20, 2026
Re: Director Offer Letter
Dear Mr. Jianqiang Xu
AKSO HEALTH GROUP, a Cayman Islands exempt company (the “Company”),
is pleased to offer you a position as a member of its Board of Directors (the “Board”). We believe your background
and experience will be a significant asset to the Company and we look forward to your participation on the Board. Should you choose to
accept this position as a member of the Board, this letter agreement (the “Agreement”) shall constitute an agreement
between you and the Company and contains all the terms and conditions relating to the services you agree to provide to the Company.
1. Term. This
Agreement is effective upon your acceptance and signature below. Your term as director shall continue subject to the provisions in
Section 8 below or until your successor is duly elected and qualified. The position shall be up for re-election each year at the
annual shareholder’s meeting and upon re-election, the terms and provisions of this Agreement shall remain in full force and
effect.
2. Services. You
shall render services as a member of the Board and the Board’s committees set forth on Schedule A attached hereto
(hereinafter your “Duties”). During the term of this Agreement, you shall attend and participate in such number
of meetings of the Board and of the committee(s) of which you are a member as regularly or specially called. You may attend and
participate at each such meeting via teleconference, video conference or in person. You shall consult with the other members of the
Board and committee(s) as necessary via telephone, electronic mail or other forms of correspondence.
3. Compensation.
As compensation for your services to the Company, you will receive $12,000 in cash per year for serving on the Board, which shall be
paid to you quarterly in arrears as determined by the Company. You shall be reimbursed for reasonable and approved expenses incurred
by you in connection with the performance of your Duties.
3. No Assignment. Because of
the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior written
consent of the Company.
4. Confidential
Information; Non-Disclosure. In consideration of your access to certain Confidential Information (as defined below) of the
Company, in connection with your business relationship with the Company, you hereby represent and agree as follows:
a. Definition. For purposes of this Agreement
the term “Confidential Information” means:
i. Any information which the Company
possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial value or utility
in the business in which the Company is engaged; or
ii. Any
information which is related to the business of the Company and is generally not known by non-Company personnel.
iii. Confidential
Information includes, without limitation, trade secrets and any information concerning services provided by the Company, concepts,
ideas, improvements, techniques, methods, research, data, know-how, software, formats, marketing plans, and analyses, business plans
and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.
b. Exclusions. Notwithstanding
the foregoing, the term Confidential Information shall not include:
i. Any
information which becomes generally available to the public other than as a result of a breach of the confidentiality portions of
this Agreement, or any other agreement requiring confidentiality between the Company and you;
ii.
Information received from a third party in rightful possession of such information who is not restricted from disclosing such
information; and
iii. Information known by you prior
to receipt of such information from the Company, which prior knowledge can be documented.
c. Documents. You agree
that, without the express written consent of the Company, you will not remove from the Company’s premises, any notes, formulas, programs,
data, records, machines or any other documents or items which in any manner contain or constitute Confidential Information, nor will you
make reproductions or copies of same. You shall promptly return any such documents or items, along with any reproductions or copies, to
the Company upon the earliest of Company’s demand, termination of this Agreement, or your termination or Resignation, as defined in Section
8 herein.
d. Confidentiality. You
agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly,
any Confidential Information or anything relating to such information without the prior written consent of the Company, except as maybe
necessary in the course of your business relationship with the Company. You further agree that you will not use any Confidential Information
without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company,
and that the provisions of this paragraph (d) shall survive termination of this Agreement.
e.
Ownership. You agree that Company shall own all right, title and interest (including patent rights, copyrights, trade secret
rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world)
relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas
and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that arise
out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions to the Company.
You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain,
enforce, and defend any rights assigned.
6. Non-Competition.
You agree and undertake that you will not, so long as you are a member of the Board and for a period of 12 months following
termination of this Agreement for whatever reason, directly or indirectly as owner, partner, joint venture, stockholder, employee,
broker, agent principal, corporate officer, director, licensor or in any other capacity whatsoever, engage in, become financially
interested in, be employed by, or have any connection with any business or venture that is engaged in any activities involving
services or products which compete, directly or indirectly, with the services or products provided or proposed to be provided by the
Company or its subsidiaries or affiliates; provided, however, that you may own securities of any public
corporation which is engaged in such business but in an amount not to exceed at any one time, one percent of any class of stock or
securities of such company, so long as you has no active role in the publicly owned company as director, employee, consultant or
otherwise.
7. Non-Solicitation. So
long as you are a member of the Board and for a period of 12 months thereafter, you shall not directly or indirectly solicit for
employment any individual who was an employee of the Company during your tenure.
8. Termination
and Resignation. Your membership on the Board may be terminated for any or no reason by a vote of the stockholders holding
at least a majority of the shares of the Company’s issued and outstanding shares entitled to vote. Your membership on the
Board or on a Board committee may be terminated for any or no reason by a majority of the Board at any time, if you have been
declared incompetent by an order of a court of competent jurisdiction or convicted of a felony. You may also terminate your
membership on the Board or on a committee for any or no reason by delivering your written notice of resignation to the Company
(“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time is
specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation, your
right to compensation hereunder will terminate subject to the Company’s obligations to pay you any compensation (including the
vested portion of the Shares) that you have already earned and to reimburse you for approved expenses already incurred in connection
with your performance of your Duties as of the effective date of such termination or Resignation. Any Shares that have not vested as
of the effective date of such termination or Resignation shall be forfeited and cancelled.
9. Governing
Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations of
the parties hereunder, shall be determined in accordance with the law of the State of New York applicable to agreements made and to
be performed entirely in the State of New York.
10. Entire
Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term
of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent of the
parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent
breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure of any party
at any time to require performance by any other party of any provision of this Agreement shall not affect the right of any such
party to require future performance of such provision or any other provision of this Agreement. This Agreement may be executed in
separate counterparts each of which will be an original and all of which taken together will constitute one and the same agreement,
and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally
enforceable, as an original of such signature.
11. Indemnification.
The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any
expenses, including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts
(“Losses”), incurred in connection with any proceeding arising out of, or related to, your performance of your
Duties, other than any such Losses incurred as a result of your negligence or willful misconduct. The Company shall advance to you
any expenses, including reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the
maximum extent permitted by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid
by the Company in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request
for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment
is being sought; and (c) an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if
it shall ultimately be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified
by the Company.
12. Not
an Employment Agreement. This Agreement is not an employment agreement, and shall not be construed or interpreted to create
any right for you to continue employment with the Company.
13. Acknowledgement. You
accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive, and
final all decisions or interpretations of the Board of Directors of the Company of any questions arising under this Agreement.
(Signature Page Follows)
The Agreement has been executed and delivered by the undersigned and
is made effective as of the date set first set forth above.
| |
Sincerely, |
| |
|
| |
AKSO HEALTH GROUP |
| |
|
| |
By: |
/s/ Yilin (Linda)
Wang |
| |
Name: |
Yilin (Linda) Wang |
| |
Title: |
Chief Executive Officer |
| AGREED AND ACCEPTED: |
|
| |
|
| /s/ Jianqiang Xu |
|
| Jianqiang Xu |
|
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