Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 134

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 10
Chunk 134
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 Minority Representative; and (ii) any director or member of a committee of the board or the board
of a subsidiary that is appointed or nominated by Digital Grid shall be removed from their position upon and only upon, the written request
of Digital Grid.

Mergers

Under Delaware corporate law, one or more constituent
corporations may merge into and become part of another constituent corporation in a process known as a merger. A Delaware corporation
may merge with a foreign corporation as long as the law of the foreign jurisdiction permits such a merger. To effect a merger under Delaware
General Corporation Law §251, an agreement of merger must be properly adopted and the agreement of merger or a certificate of merger
must be filed with the Delaware Secretary of State. In order to be properly adopted, the agreement of merger must be adopted by the board
of directors of each constituent corporation by a resolution or unanimous written consent. In addition, the agreement of merger generally
must be approved at a meeting of shareholders of each constituent corporation by a majority of the outstanding stock of the corporation
entitled to vote, unless the certificate of incorporation provides for a supermajority vote. In general, the surviving corporation assumes
all of the assets and liabilities of the disappearing corporation or corporations as a result of the merger.

Under the Companies Act, two or more companies
may merge or consolidate in accordance with the statutory provisions. A merger means the merging of two or more constituent companies
into one of the constituent companies, and a consolidation means the uniting of two or more constituent companies into a new company.
In order to merge or consolidate, the directors of each constituent company must approve a written plan of merger or consolidation which
must be authorized by a resolution of shareholders.

Shareholders not otherwise entitled to vote on
the merger or consolidation may still acquire the right to vote if the plan of merger or consolidation contains any provision which, if
proposed as an amendment to the memorandum association or articles of association, would entitle them to vote as a class or series on
the proposed amendment. In any event, all shareholders must be given a copy of the plan of merger or consolidation irrespective of whether
they are entitled to vote at the meeting or consent to the written resolution to approve the plan of merger or consolidation.

Inspection of Books and Records

Under Delaware corporate law, any shareholder
of a corporation may for any proper purpose inspect or make copies of the corporation’s stock ledger, list of shareholders and other
books and records.

Under the Companies Act, members