Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 663

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 2
Chunk 663
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A
“Related Person Transaction” is a transaction, arrangement or relationship in which we or any of our subsidiaries was, is
or will be a participant, the amount of which involved exceeds $120,000, and in which any related person had, has or will have a direct
or indirect material interest. A “Related Person” means:

    ●
    any person who is, or at
    any time during the applicable period was, one of our executive officers or a member of the Board;

    ●
    any person who is known
    by us to be the beneficial owner of more than 5% of our voting stock;

    ●
    any immediate family member
    of any of the foregoing persons, which means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law,
    daughter-in-law, brother-in-law or sister-in-law of a director, officer or a beneficial owner of more than 5% of our voting
    stock, and any person (other than a tenant or employee) sharing the household of such director, executive officer or beneficial owner
    of more than 5% of our voting stock; and

    ●
    any firm, corporation or
    other entity in which any of the foregoing persons is a partner or principal or in a similar position or in which such person has
    a 10% or greater beneficial ownership interest.

We
have policies and procedures designed to minimize potential conflicts of interest arising from any dealings it may have with its affiliates
and to provide appropriate procedures for the disclosure of any real or potential conflicts of interest that may exist from time to time.
Specifically, pursuant to its audit committee charter, the audit committee will have the responsibility to review related person transactions.

Clawback
Policy

We
have adopted a clawback policy that applies to our executive officers (the “Policy”) to comply with Nasdaq rules.

The
policy gives the Compensation Committee the discretion to require executive officers to reimburse us for any Erroneously Awarded Compensation
(as defined in the Policy) that was based on financial results that were subsequently restated as a result of that person’s misconduct.

Insider
Trading Policy

We
have adopted an insider trading policy governing the purchase, sale, and other dispositions of the registrant’s securities
by directors, senior management, and employees. A copy of the insider trading policy is filed as an exhibit to this Annual Report.

Limit