Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 110

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 6
Chunk 110
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 has been a party to any judicial or administrative proceeding during the past ten years that resulted in a judgment,
decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities
laws, or a finding of any violation of federal or state securities or commodities laws, any laws respecting financial institutions or
insurance companies, any law or regulation prohibiting mail or wire fraud in connection with any business entity or been subject to any
disciplinary sanctions or orders imposed by a stock, commodities or derivatives exchange or other self-regulatory organization, except
for matters that were dismissed without sanction or settlement.

Terms of Directors and Executive Officers

Each of our directors holds office until a successor
has been duly elected and qualified unless the director was appointed by the Board, in which case such director holds office until the
next annual meeting of shareholders at which time such director is eligible for re-election. All of our executive officers are appointed
by and serve at the discretion of our Board.

Qualification

There is currently no shareholding qualification
for directors, although a shareholding qualification for directors may be fixed by our shareholders by ordinary resolution.

Committees of the Board of Directors

Currently, three committees have been established
under the Board: the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee. Each committee’s
members and functions are described below.

Audit Committee

Our Audit Committee currently consists of Mr.
Gregory Moore, Mr. Poi (Paul) Wu, and Mr. Richard Weil. Mr. Moore is the chairman of our Audit Committee. We have determined that Mr.
Moore, Mr. Wu, and Mr. Weil satisfy the “independence” requirements of Section 5605(a)(2) of the Nasdaq Listing Rules and
Rule 10A-3 under the Exchange Act. Our Board also has determined that Mr. Moore qualifies as an audit committee financial expert within
the meaning of the SEC rules or possesses financial sophistication within the meaning of the Nasdaq Listing Rules. The Audit Committee
oversees our accounting and financial reporting processes and the audits of the financial statements of our company. The Audit Committee
is responsible for, among other things:

  appointing the independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;  

  reviewing with the independent auditors any audit problems or difficulties and management’s response;  

  discussing the annual audited financial statements with management and the independent