Company: LTRYW
Filing Date: 2025-04-09
Form Type: 10-K/A
Source: 0001641172-25-003412
Chunk: 86

Company: Lottery.com Inc.
Filing Date: 2025-04-09
Form: 10-K/A
Chunk 86
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ify    
 a person with respect to proceedings initiated by that person, except with respect to proceedings to enforce an indemnitees right       
 to indemnification or advancement of expenses, proceedings authorized by our board of directors and if offered by us in our sole        
 discretion.                                                                                                                             |
| ● | The                                                                                                                                     
 rights conferred in our Charter are not exclusive, and we are authorized to enter into indemnification agreements with our directors,   
 officers, employees and agents and to obtain insurance to indemnify such persons.                                                       |
| ● | We                                                                                                                                      
 may not retroactively amend our Charter or indemnification agreement provisions to reduce our indemnification obligations to directors, 
 officers, employees and agents.                                                                                                         |

As a result of these provisions, if an investor were able to enforce an action against our directors or officers, in all likelihood, we would be required to pay any expenses they incurred in defending the lawsuit and any judgment or settlement they otherwise would be required to pay. This could lead to us incurring substantial expenditures to cover the cost of settlement or damage awards against our directors and officers, which the Company may not be able to pay or recoup. Accordingly, our indemnification obligations could divert needed financial resources and may adversely affect our business, financial condition, results of operations and cash flows, and adversely affect the value of our business.

The exclusive forum provision in our Charter may have the effect of discouraging lawsuits against our directors and officers.

Our Charter requires, unless we consent in writing to the selection of an alternative forum, that (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, other employee to us or to our stockholders; (iii) any action asserting a claim against us, our directors, officers or employees arising pursuant to any provision of the Delaware General Corporation Law (the “DGCL”), our Charter or our Amended and Restated Bylaws (our “Bylaws”); or (iv) any action asserting a claim against us, our directors, officers or employees governed by the internal affairs doctrine under Delaware law shall be brought, to the fullest extent permitted by law, solely and exclusively in the Court of Chancery in the State of Delaware.

In addition, our Charter requires, unless we consent in writing to the selection of an alternative forum, that the federal district courts of the United States of America shall, to the fullest extent permitted by law, be the exclusive forum for the resolution of any complaint asserting a cause