Company: BNBX
Filing Date: 2025-12-30
Form Type: 424B3
Source: 0001104659-25-125037
Chunk: 42

Company: BNB PLUS CORP.
Filing Date: 2025-12-30
Form: 424B3
Chunk 42
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2015), the Court ruled from the bench to hold that, in the absence
of a classified board of directors or cumulative voting, VAALCO’s “only for-cause” director removal provisions conflict
with Section 141(k) of the DGCL and are therefore invalid. Because the Company’s Certificate of Incorporation and By-Laws
contain similar “only for-cause” director removal provisions and the Company does not have a classified board of directors
or cumulative voting, the Company will not attempt to enforce the foregoing “only for-cause” director removal provision in
light of the VAALCO decision.

Size of Board and Vacancies

The authorized number of
directors may be determined by the Board, provided the Board shall consist of at least one (1) member. No decrease in the number
of directors constituting the Board shall shorten the term of any incumbent director.

Vacancies occurring on the
Board for any reason and newly created directorships resulting from an increase in the authorized number of directors may be filled only
by a vote of a majority of the remaining members of the Board, although less than a quorum, or by a sole remaining director, at any meeting
of the Board.

Amendment

The Certificate of Incorporation
may be amended in the manner prescribed by the DGCL. The Board is authorized to adopt, amend, alter or repeal the By-Laws by the affirmative
vote of at least a majority of the Board then in office. No amendment to the Certificate of Incorporation or the By-Laws may adversely
affect any indemnification right or protection of any director, officer, employee or other agent existing at the time of such amendment,
repeal or adoption of an inconsistent provision for or in respect of any act, omission or other matter occurring, or any action or proceeding
accruing or arising prior to such amendment, repeal or adoption of an inconsistent provision.

Authorized but Unissued Shares of Common Stock and of Preferred Stock

We believe that the availability
of the “Blank Check” preferred stock under our Certificate of Incorporation provides us with flexibility in addressing corporate
issues that may arise. The Board has the power, subject to applicable law, to issue series of preferred stock that could, depending on
the terms of the series, impede the completion of a merger, tender offer or other takeover attempt that some, or a majority, of the stockholders
might believe to be in their best interests or in which stockholders might receive a premium for their stock over