Company: GURE
Filing Date: 2025-07-16
Form Type: PRE 14A
Source: 0001193805-25-001026
Chunk: 66

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-16
Form: PRE 14A
Chunk 66
---
 be required to satisfy before the Holder would become entitled
to the receipt of Shares pursuant to such Holder’s Performance Stock Award and the number of Shares subject to such Performance
Stock Award. Such distribution shall be subject to a “substantial risk of forfeiture” under Section 409A of the Code. If such
Performance Goals are achieved, the distribution of Shares (or the payment of cash, as determined in the sole discretion of the Committee),
shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company’s
fiscal year to which such goals and objectives relate. At the time of such Award, the Committee may, in its sole discretion, prescribe
additional terms and conditions or restrictions relating to Performance Stock Awards, including, but not limited to, rules pertaining
to the effect of the Holder’s Termination of Service prior to the expiration of the applicable performance period. The terms and
conditions of the respective Performance Stock Agreements need not be identical.

Gulf Resources, Inc. 2025 Stock Incentive Plan

12.3. The Holder of a Performance Stock Award shall be entitled to receive a cash payment equal to the
Fair Market Value of a Share, or one Share, as determined in the sole discretion of the Committee, for each Performance Stock Award subject
to such Performance Stock Agreement, if the Holder satisfies the applicable vesting requirement. Such distribution shall be made no later
than by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company’s fiscal year to which
such performance goals and objectives relate.

<div align='center'>ARTICLE XIII

DISTRIBUTION EQUIVALENT
RIGHTS</div>

13.1. A Distribution Equivalent Right shall entitle the Holder to receive bookkeeping credits, cash payments and/or Share
distributions equal in amount to the distributions that would have been made to the Holder had the Holder held a specified number of Shares
during the specified period of the Award.

13.2. At the time any Award is made under this Article XIII, the Company and the Holder shall enter into
a Distribution Equivalent Rights Award Agreement setting forth each of the matters contemplated thereby and such other matters as the
Committee may determine to be appropriate. The Committee shall set forth in the applicable Distribution Equivalent Rights Award Agreement
the terms and conditions, if any, including whether the Holder is to receive credits currently in cash, is to have