Company: IXHL
Filing Date: 2025-04-16
Form Type: S-1/A
Source: 0001213900-25-032577
Chunk: 41

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-16
Form: S-1/A
Chunk 41
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 Incorporation and Bylaws eliminate
the right of stockholders to act by written consent without a meeting.

Staggered Board

Our board of directors is
divided into three classes. The directors in each class will serve for a three-year term, one class being elected each year by our stockholders.
This system of electing and removing directors may tend to discourage a third party from making a tender offer or otherwise attempting
to obtain control of us, because it generally makes it more difficult for stockholders to replace a majority of the directors.

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Removal of Directors

Our Certificate of Incorporation provides that
no member of our board of directors may be removed from office by our stockholders except for cause and, in addition to any other vote
required by law, upon the approval of at least 66 2/3% of the voting power of all of our outstanding voting stock then entitled to vote
in the election of directors.

Stockholders Not Entitled to Cumulative Voting

Our Certificate of Incorporation
does not permit stockholders to cumulate their votes in the election of directors. Accordingly, the holders of a majority of the outstanding
shares of our Common Stock entitled to vote in any election of directors can elect all of the directors standing for election, if they
choose, other than any directors that holders of our preferred stock may be entitled to elect.

Delaware Anti-Takeover Statute

We are subject to Section
203 of the Delaware General Corporation Law, which prohibits persons deemed to be “interested stockholders” from engaging
in a “business combination” with a publicly held Delaware corporation for three years following the date these persons become
interested stockholders unless the business combination is, or the transaction in which the person became an interested stockholder was,
approved in a prescribed manner or another prescribed exception applies. Generally, an “interested stockholder” is a person
who, together with affiliates and associates, owns, or within three years prior to the determination of interested stockholder status
did own, 15% or more of a corporation’s voting stock. Generally, a “business combination” includes a merger, asset or
stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The existence of this provision may have
an anti-takeover effect with respect to transactions not approved in advance by the board of directors.

Choice of Forum

Our Certificate of Incorporation
provides that, unless we consent in writing to the selection of