Company: GFS
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001709048-25-000024
Chunk: 23

Company: GLOBALFOUNDRIES Inc.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 10
Chunk 23
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adala Designees may only be removed with or without cause by MTIC and (2) as long as the Mubadala Entities beneficially own in the aggregate at least 50% of the outstanding shares, directors other than the Mubadala Designees may be removed with or without cause by a majority of shareholders.

The notice of general meeting must contain a statement of the intention to remove the director and must be served on the director not less than ten calendar days before the meeting. The director is entitled to attend the meeting and be heard on the motion for his removal.

The office of a director will be vacated automatically if the director:

• becomes prohibited by law from being a director;

• becomes bankrupt or makes an arrangement or composition with the director’s creditors;

• dies or is in the opinion of all the director’s co-directors, incapable by reason of mental disorder of discharging his duties as director;

• resigns the director’s office by notice to us; or

• has for more than six months been absent without permission of the directors from meetings of the Board of Directors held during that period, and the remaining directors resolve that the director’s office be vacated.

Our Memorandum and Articles of Association provide that any vacancy on the Board of Directors in respect of a Mubadala Designee may only be filled by a decision of majority of the Mubadala Designees then in office, or if there are none, by MTIC.

Proceedings of the Board of Directors

Our business is to be managed and conducted by the Board of Directors. The quorum necessary for any meeting of our Board of Directors shall consist of a simple majority of the members provided that, for so long as the Mubadala Entities are entitled to nominate one Mubadala Designee to our Board of Directors, the presence of at least one Mubadala Designee shall be required on first call to a meeting of the Board of Directors.

Subject to the provisions of our Memorandum and Articles of Association, the Board of Directors may regulate its proceedings as they determine is appropriate.

Subject to the provisions of our Memorandum and Articles of Association, to any directions given by ordinary resolution of the shareholders and applicable listing rules, the Board of Directors may from time to time at its discretion exercise all of our powers, including, subject to the Cayman Companies Act, the power to issue debentures, bonds and other securities of the company, whether outright or as collateral security for any debt, liability or obligation of our