Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 39

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 39
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 circumstances, the number of directors will be fixed exclusively pursuant to a resolution adopted by our board
of directors.

Delaware Takeover Statute

We are not subject to the provisions of Section 203 of the Delaware
General Corporation Law (the “DGCL”). In general, Section 203 prohibits a Delaware corporation from engaging in a “business
combination” with an “interested stockholder” for a three-year period following the time that the person becomes an
interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes,
among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder.
An “interested stockholder” is a person who, together with affiliates and associates, owns, or did own within three years
prior to the determination of interested stockholder status, 15% or more of the corporation’s voting stock.

Under Section 203 of the
DGCL, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following
conditions: (1) before the stockholder became an interested stockholder, the board of directors approved either the business combination
or the transaction which resulted in the stockholder becoming an interested stockholder; (2) upon consummation of the transaction
which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock
of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding,
shares owned by persons who are directors and also officers, and employee stock plans, in some instances; or (3) at or after the
time the stockholder became an interested stockholder, the business combination was approved by the board of directors and authorized
at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which
is not owned by the interested stockholder.

A Delaware corporation may
“opt out” of these provisions with an express provision in its original certificate of incorporation or an express provision
in its certificate of incorporation or bylaws resulting from a stockholders’ amendment approved by at least a majority of the outstanding
voting shares.

Limitations on Liability and Indemnification of Officers and Directors

Our amended and restated
certificate of incorporation and bylaws limit the liability of our officers and directors and provide that we will indemnify our officers
and directors, in each case,