Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 122

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1
Chunk 122
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 suit or proceeding,
whether civil, criminal, administrative or investigative (a “Proceeding”) by reason of the fact that he or she is or was
a director or officer of us or is or was serving at the request of us as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by such person in connection with any such Proceeding. We will not be obligated to
indemnify a person in connection with a Proceeding (or part thereof) initiated by such person unless the Proceeding (or part thereof)
was, or is, authorized by the Board, and the Board determines to provide the indemnification, or is otherwise required by applicable
law. In addition, the Bylaws require that we, to the fullest extent permitted by law, pay, in advance of the final disposition of a Proceeding,
expenses (including attorneys’ fees) actually and reasonably incurred by an officer or director in defending any Proceeding, upon
receipt of a written request therefor (together with documentation reasonably evidencing such expenses) and an undertaking by or on behalf
of the person to repay such amounts if it shall ultimately be determined that the person is not entitled to be indemnified under the
Bylaws or the DGCL.

35

We
expect to enter into an indemnification agreement with each of its directors and executive officers that provides for indemnification
to the maximum extent permitted by Delaware law.

We
believe that these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and
executive officers. The limitation of liability and indemnification provisions in our Certificate of Incorporation and Bylaws may discourage
shareholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions also may have the effect
of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might
otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to the extent that we pay the costs
of settlement and damage awards against directors and officers pursuant to these indemnification provisions. Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors or executive officers, we have been informed that in the
opinion of the SEC such indemnification is against public policy and is therefore unenforceable.

Section
16(a) Beneficial Ownership