Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 91

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 91
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 that were owned, at the time of the vote on the provision, by a stockholder
(or stockholders) who did not vote such shares in favor of the proposed provision. Accordingly, we cannot assure you that we would be
able to redeem the shares of a stockholder deemed an unsuitable person by applicable regulatory authorities.

Claims for indemnification
by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount
of money available to us.

Our
Charter and our amended and restated bylaws (the “ Bylaws”) provide that we will indemnify our directors and officers, in
each case to the fullest extent permitted by Delaware law. In addition, as permitted by Section 145 of the Delaware General Corporation
Law (the “ DGCL”), our Charter, Bylaws and our indemnification agreements that we have entered into with our directors and
officers provide that:

  To                                                                                                                                        

  49  

  We                                                                                                                                       
  will indemnify our directors and officers for serving us in those capacities or for serving other business entities at our request,      
  to the fullest extent permitted by the DGCL. The DGCL provides that a corporation may indemnify such person if such person acted         
  in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and,      
  with respect to any criminal action or proceeding, had no reasonable cause to believe such person’s conduct was unlawful.                
  We                                                                                                                                       
  may, in our discretion, indemnify employees and agents in those circumstances where indemnification is permitted by applicable law       
  and such person was made a party to an action, suit or proceeding, by reason of the fact that he or she is or was an employee or         
  agent of the Company.                                                                                                                    
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  We                                                                                                                                       
  We                                                                                                                                       
  The                                                                                                                                      
  We                                                                                                                                       

As
a result of these provisions, if an investor were able to enforce an action against our directors or officers, in all likelihood, we
would be required to pay any expenses they incurred in defending the lawsuit and any judgment or settlement they otherwise would be required
to pay. This could lead to us incurring substantial expenditures to cover the cost of settlement or damage awards against our directors
and officers, which the Company may not be able to pay or recoup.