Company: BNBX
Filing Date: 2025-12-22
Form Type: S-1/A
Source: 0001104659-25-123402
Chunk: 44

Company: BNB PLUS CORP.
Filing Date: 2025-12-22
Form: S-1/A
Chunk 44
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 the foregoing “only for-cause” director removal provision in
light of the VAALCO decision.

Size of Board and Vacancies

The authorized number of
directors may be determined by the Board, provided the Board shall consist of at least one (1) member. No decrease in the number
of directors constituting the Board shall shorten the term of any incumbent director.

Vacancies occurring on the
Board for any reason and newly created directorships resulting from an increase in the authorized number of directors may be filled only
by a vote of a majority of the remaining members of the Board, although less than a quorum, or by a sole remaining director, at any meeting
of the Board.

Amendment

The Certificate of Incorporation
may be amended in the manner prescribed by the DGCL. The Board is authorized to adopt, amend, alter or repeal the By-Laws by the affirmative
vote of at least a majority of the Board then in office. No amendment to the Certificate of Incorporation or the By-Laws may adversely
affect any indemnification right or protection of any director, officer, employee or other agent existing at the time of such amendment,
repeal or adoption of an inconsistent provision for or in respect of any act, omission or other matter occurring, or any action or proceeding
accruing or arising prior to such amendment, repeal or adoption of an inconsistent provision.

Authorized but Unissued Shares of Common Stock and of Preferred Stock

We believe that the availability
of the “Blank Check” preferred stock under our Certificate of Incorporation provides us with flexibility in addressing corporate
issues that may arise. The Board has the power, subject to applicable law, to issue series of preferred stock that could, depending on
the terms of the series, impede the completion of a merger, tender offer or other takeover attempt that some, or a majority, of the stockholders
might believe to be in their best interests or in which stockholders might receive a premium for their stock over the then prevailing
market price of the stock. The Board may issue preferred stock with voting rights or conversion rights that, if exercised, could adversely
affect the voting power of the holders of Common Stock.

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The authorized shares of
preferred stock, as well as shares of Common Stock, will be available for issuance without further action by our stockholders, unless
action is required by applicable law or the rules of any stock exchange on which our securities may be listed. Having