Company: BOF
Filing Date: 2025-07-03
Form Type: S-3
Source: 0001641172-25-017784
Chunk: 22

Company: BranchOut Food Inc.
Filing Date: 2025-07-03
Form: S-3
Chunk 22
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 other enterprise against expenses, including amounts paid
in settlement and attorneys’ fees actually and reasonably incurred by the person in connection with the defense or settlement of
the action or suit if the person (a) is not liable pursuant to NRS 78.138 or (ii) acted in good faith and in a manner which he or she
reasonably believed to be in or not opposed to the best interests of the corporation. To the extent that a director, officer, employee
or agent of a corporation has been successful on the merits or otherwise in defense of any such action, suit or proceeding, or in defense
of any claim, issue or matter therein, the corporation shall indemnify him or her against expenses, including attorneys’ fees, actually
and reasonably incurred by him or her in connection with the defense. The termination of any action, suit or proceeding by judgment, order,
settlement, conviction or upon a plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the person
is liable pursuant to NRS 78.138 or did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed
to the best interests of the corporation, or that, with respect to any criminal action or proceeding, he or she had reasonable cause to
believe that the conduct was unlawful. Indemnification may not be made for any claim, issue or matter as to which such a person has been
adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the corporation or for amounts
paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court
of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably
entitled to indemnity for such expenses as the court deems proper.

NRS 78.751(1) provides that any discretionary
indemnification pursuant to NRS 78.7502 (unless ordered by a court or advanced pursuant to NRS 78.751(2)), may be made by the corporation
only as authorized in the specific case upon a determination that indemnification of the director, officer, employee or agent is proper
in the circumstances. The determination must be made (i) by the stockholders; (ii) by the board of directors by majority vote of a quorum
consisting of