Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 46

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 46
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iii) under Section 174 of the DGCL (for willful or negligent violation by a director of the provisions of the DGCL governing repurchases and redemptions of shares and the declaration and payment of dividends), and (iv) for any transaction from which a director derived an improper personal benefit. The Exculpation Amendment similarly would protect certain of our officers from personal liability to us or our stockholders for monetary damages for breach of fiduciary duty other than for breaches of the duty of loyalty, acts or omissions not in good faith or that involve intentional misconduct or knowing violation of law, or for any transaction from which such officers derived an improper personal benefit. In addition, Section 102(b)(7) of the DGCL will prevent the Exculpation Amendment from exculpating such officers for claims brought by us and for derivative claims.

Under Section 102(b)(7) of the DGCL, the officers who may be exculpated by a provision of the certificate of incorporation eliminating or limiting the liability for monetary damages for certain breaches of fiduciary duty include an officer who (i) is the president, chief executive officer, chief operating officer, chief financial officer, chief legal officer, controller, treasurer, or chief accounting officer of the corporation at any time during the course of conduct alleged in the relevant action or proceeding to be wrongful, (ii) is or was identified in a Delaware corporation’s public filings with the United States Securities and Exchange Commission because such person is or was one of the most highly compensated executive officers of the corporation, or (iii) has, by written agreement with the corporation, consented to be identified as an officer for purposes of accepting service of process on the corporation’s Delaware registered agent (or, if there is none, the Delaware Secretary of State) as agent upon whom service of process may be made in all civil actions or proceedings brought in Delaware, by or on behalf of, or against, the Delaware corporation, in which such officer is a necessary or proper party, or in any action or proceeding against such officer for violation of duty in such capacity.

Taking into account the narrow class and type of claims that certain of our officers would be exculpated from monetary damages for, the limited number of our officers that would be covered by the proposed Exculpation Amendment, and the potential benefits the Board of Directors believed would accrue to us from providing such exculpation, including, without limitation, the ability to attract and retain key executive officers and the potential