Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 113

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 113
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    such limit will not apply to any election of a Non-Employee Director to receive shares of Common Stock in lieu of all or a portion
    of any annual Board, committee chair or other retainer, or any meeting fees otherwise payable in cash.

Awards
can be granted for no cash consideration or for any cash and other consideration as determined by the Committee. Awards may provide that
upon the grant or exercise thereof, the holder will receive cash, shares of PetVivo common stock, other securities or property, or any
combination of these in a single payment, installments or on a deferred basis. The exercise price per share of any stock option and the
grant price of any stock appreciation right may not be less than the fair market value of PetVivo common stock on the date of the grant.
The term of any award cannot be longer than ten years from the date of the grant. Awards will be adjusted in the event of a stock dividend
or other distribution, recapitalization, forward or reverse stock split, reorganization, merger or other business combination, or similar
corporate transaction, in order to prevent dilution or enlargement of the benefits or potential benefits provided under the Amended Plan.

The
Amended Plan permits the following types of awards: stock options, stock appreciation rights, restricted stock awards, restricted stock
units, deferred stock units, performance awards, non-employee director awards, other stock-based awards, and dividend equivalents.

Convertible
Notes

On
July 27, 2023, the Company issued convertible promissory notes (“Convertible Debentures”) in the aggregate amount of $550,000
to three accredited investors pursuant to debenture subscription agreements (“Debenture Subscription Agreement”). The Convertible
Debentures mature on January 26, 2024 (the “Maturity Date”), bear interest at a rate of 10% per annum and automatically convert
into shares of the Company’s common stock on the earlier of (i) the Maturity Date or (ii) upon the occurrence of certain events
prior to the Maturity Date, including, without limitation, the sale of common stock of at least $2 million.

On
August 11, 2023, the Company entered into Convertible Debenture Conversion Agreements (“Conversion Agreements”) with the
three debenture holders (“Debenture Holders”). Pursuant to the Conversion Agreements, each Debenture Holder agreed to voluntarily
and immediately convert the outstanding