Company: BOF
Filing Date: 2025-07-03
Form Type: S-3
Source: 0001641172-25-017784
Chunk: 23

Company: BranchOut Food Inc.
Filing Date: 2025-07-03
Form: S-3
Chunk 23
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 directors who were not parties to the action, suit or proceeding; (iii) if a majority vote of a quorum consisting of directors
who were not parties to the action, suit or proceeding so orders, by independent legal counsel in a written opinion; or (iv) if a quorum
consisting of directors who were not parties to the action, suit or proceeding cannot be obtained, by independent legal counsel in a written
opinion. NRS 78.751(2) provides that the corporation’s articles of incorporation or bylaws, or an agreement made by the corporation,
may provide that the expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding must be paid
by the corporation as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an
undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction
that the director or officer is not entitled to be indemnified by the corporation.

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

Under the NRS, the indemnification pursuant to
NRS 78.7502 and advancement of expenses authorized in or ordered by a court pursuant to NRS 78.751:

| ● Does not exclude any other rights to which a person seeking                                                                    
 indemnification or advancement of expenses may be entitled under the articles of incorporation or any bylaw, agreement, vote of  
 stockholders or disinterested directors or otherwise, for either an action in the person’s official capacity or an action in     
 another capacity while holding office, except that indemnification, unless ordered by a court pursuant to NRS 78.7502 or for the 
 advancement of expenses made pursuant to NRS 78.751(2), may not be made to or on behalf of any director or officer if a final    
 adjudication establishes that the director’s or officer’s acts or omissions involved intentional misconduct, fraud or a          
 knowing violation of the law and was material to the cause of action; and                                                        |
| ● Continues for a person who has ceased to be a director,                                                                        
 officer, employee or agent and inures to the benefit of the heirs, executors and administrators of such a person.                |

A right to indemnification or to advancement of
expenses arising under a provision of the articles of incorporation or any bylaw is not eliminated or impaired by an amendment to such
provision after the occurrence of the