Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1330

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7
Chunk 1330
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 Bylaws require that we, to the fullest extent permitted by law, pay, in advance of the final disposition of a Proceeding,
expenses (including attorneys’ fees) actually and reasonably incurred by an officer or director in defending any Proceeding, upon
receipt of a written request therefor (together with documentation reasonably evidencing such expenses) and an undertaking by or on behalf
of the person to repay such amounts if it shall ultimately be determined that the person is not entitled to be indemnified under the
Bylaws or the DGCL.

35

We
expect to enter into an indemnification agreement with each of its directors and executive officers that provides for indemnification
to the maximum extent permitted by Delaware law.

We
believe that these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and
executive officers. The limitation of liability and indemnification provisions in our Certificate of Incorporation and Bylaws may discourage
shareholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions also may have the effect
of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might
otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to the extent that we pay the costs
of settlement and damage awards against directors and officers pursuant to these indemnification provisions. Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors or executive officers, we have been informed that in the
opinion of the SEC such indemnification is against public policy and is therefore unenforceable.

Section
16(a) Beneficial Ownership Reporting Compliance

Section
16(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, requires our executive officers, directors and persons
who beneficially own more than 10% of a registered class of our equity securities to file with the Securities and Exchange Commission
initial reports of ownership and reports of changes in ownership of our shares of Common Stock and other equity securities. These executive
officers, directors, and greater than 10% beneficial owners are required by SEC regulation to furnish us with copies of all Section 16(a)
forms filed by such reporting persons.

Based
solely on our review of such forms furnished to us and written representations from certain reporting persons, we believe that, during
the year ended June 30, 2025, our directors, executive officers, and ten percent stockholders complied with