Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 92

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 92
---
 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 of action arising under the Securities Act. Notwithstanding the foregoing, this provision in the Charter does not apply
to claims seeking to enforce any liability or duty created by the Exchange Act since Section 27 of the Exchange Act creates exclusive
federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations
thereunder.

  50  

Although
we believe this provision benefits us by providing increased consistency in the application of law in the types of lawsuits to which
it applies, a court may determine that this provision is unenforceable, and to the extent it is enforceable, the provision may have the
effect of discouraging lawsuits against our directors and officers.

Anti-takeover
provisions contained in our Charter and Bylaws, as well as provisions of Delaware law, could impair a takeover attempt.

Our
Charter contains provisions that may discourage unsolicited takeover proposals that stockholders may consider to be in their best interests.
The Company is subject to anti-takeover provisions under Delaware