Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 39

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 10
Chunk 39
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 the Company.

Indemnity
Provisions

Under
the Articles and the BCA, the Company is now permitted (and is, in some circumstances, required) to indemnify a past or present director
or officer of the Company or an associated corporation without obtaining prior court approval in respect of an “eligible proceeding”.
An “eligible proceeding” includes any legal proceeding relating to the activities of the individual as a director or officer
of the Company. However, under the BCA, the Company will be prohibited from paying an indemnity if: (a) the party did not act honestly
and in good faith with a view to the best interests of the Company; (b) the proceeding was not a civil proceeding and the party did not
have reasonable grounds for believing that his or her conduct was lawful; and (c) the proceeding is brought against the party by the
Company or an associated corporation.

Directors
 - Number and Qualification

The
Company’s Articles do not specify a maximum number of directors. The minimum under British Columbia law for a public company is
three. The number of directors shall be the number of directors fixed by the directors annually or the number that are actually elected
at a general shareholders meeting under the Existing Articles. The number of directors is determined, annually, by shareholders at the
annual shareholders meeting and all directors are elected at that time. Under the Articles the directors are entitled between successive
annual general meetings to appoint one or more additional directors but not more than one-third of the number of directors fixed at a
shareholders’ or actually elected at the preceding annual shareholders’ meeting. Directors automatically retire at the commencement
of each annual meeting but may be re-elected thereat.

Directors
must be of the age of majority (18), and meet eligibility criteria including being mentally competent, not an un-discharged bankrupt,
no fraud related convictions in the previous five years. There are residency requirements and there is no mandatory retirement age either
under the Articles or under the BCA. Directors need not own any shares of the Company in order to qualify as directors.

  38  

Directors
- Powers and Limitations

Directors
must manage or supervise the management of the business and affairs of the Company and have the authority to exercise all such powers
which are not required to be exercised by the shareholders as governed by the BCA. Directors may, by resolution, create and appoint an
executive committee consisting of the director or directors that they deem appropriate. This executive committee