Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 57

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 57
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 director’s duty of loyalty 
 to us or our stockholders;                       |

| · | for acts or omissions not in good faith or which involve 
 intentional misconduct or a knowing violation of law;    |

| · | for unlawful payments of                                                                                                      
 dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the General Corporation Law of the State 
 of Delaware; and                                                                                                              |

| · | for any transaction from which the director derived 
 an improper personal benefit.                       |

This provision could have
the effect of reducing the likelihood of derivative litigation against our directors and may discourage or deter our stockholders or
management from bringing a lawsuit against our directors for breach of their duty of care, even though such an action, if successful,
might otherwise have benefited us and our stockholders. Our bylaws provide indemnification to our officers and directors and other specified
persons with respect to their conduct in various capacities.

Our certificate of incorporation
expressly renounces any interest or expectancy of our company in, or in being offered an opportunity to participate in, any business
opportunity that is presented to B. Riley FBR, Inc., Vintage Capital Management LLC, or their respective directors, officers, shareholders,
or employees.

Statutory Business Combination Provision

As a Delaware corporation,
we are subject to Section 203 of the General Corporation Law of the State of Delaware. In general, Section 203 prevents an
“interested stockholder,” which is defined generally as a person owning 15% or more of a Delaware corporation’s outstanding
voting stock or any affiliate or associate of that person, from engaging in a broad range of “business combinations” with
the corporation for three years following the date that person became an interested stockholder unless:

| · | before that person became                                                                                                               
 an interested stockholder, the board of directors of the corporation approved the transaction in which that person became an interested 
 stockholder or approved the business combination;                                                                                       |

| · | on completion of the transaction                                                                                             
 that resulted in that person’s becoming an interested stockholder, that person owned at least 85% of the voting stock of the 
 corporation outstanding at the time the transaction commenced, other than stock held by (1) directors who are also officers  
 of the corporation or (2) any employee stock plan that does not provide employees with the right to determine confidentially 
 whether shares held subject to the plan will be tendered in a tender or exchange offer; or                                   |

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