Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 59

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 59
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 attorneys’ fees) actually and reasonably incurred by such persons
in connection with the defense or settlement of a derivative action or suit, except that no indemnification shall be made in respect of
any claim, issue or matter as to which such person shall have been adjudged to be liable to such corporation unless the Delaware Court
of Chancery or the court in which such action or suit was brought shall determine upon application that such person is fairly and reasonably
entitled to indemnity for such expenses which such court shall deem proper.

To the extent a present or
former director or officer is successful in the defense of such an action, suit or proceeding referenced above, or in defense of any claim,
issue or matter therein, a corporation is required by the DGCL to indemnify such person for actual and reasonable expenses incurred in
connection therewith. Expenses (including attorneys’ fees) incurred by such persons in defending any action, suit or proceeding
may be paid in advance of the final disposition of such action, suit or proceeding upon in the case of a current officer or director,
receipt of an undertaking by or on behalf of such person to repay such amount if it is ultimately determined that such person is not entitled
to be so indemnified.

The DGCL provides that the
indemnification described above shall not be deemed exclusive of other indemnification that may be granted by a corporation pursuant to
its bylaws, disinterested directors’ vote, stockholders’ vote and agreement or otherwise.

<div align='center'>II-1</div>

Section 102(b)(7) of
the DGCL enables a corporation, in its certificate of incorporation or an amendment thereto, to eliminate or limit the personal liability
of a director to the corporation or its stockholders for monetary damages for violations of the directors’ fiduciary duty, except
(i) for any breach of the director’s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions
not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) pursuant to Section 174 of the
DGCL (providing for liability of directors for unlawful payment of dividends or unlawful stock purchases or redemptions) or (iv) for
any transaction from which a director derived an improper personal benefit. Our certificate of incorporation provides for such limitations
on liability for its directors.

The DGCL also provides corporations
with the power to purchase and maintain insurance on behalf of any person who is or was a