Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 58

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 58
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, determine that, upon the occurrence of a change in control, each or any award or a portion thereof outstanding immediately prior to the change in control and not previously exercised or settled will be canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined by the Board) subject to such canceled award in (i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the change in control or (iii) other property which, in any such case, will be in an amount having a fair market value equal to the fair market value of the consideration to be paid per share in the change in control, reduced by the exercise or purchase price per share, if any, under such award.

Unless other provided in the applicable award agreement, a “change in control” generally means the consummation of any of the following events following the effective date of the 2016 Plan Amendment: (a) the acquisition by any individual, entity or group of beneficial ownership of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; or (b) a reorganization, merger, consolidation or recapitalization of the Company (a “business combination”), other than a business combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the business combination is held by the persons who, immediately prior to the business combination, were the holders of the voting securities of the Company entitled to vote generally in the election of directors; or (c) a complete liquidation or dissolution of the Company, or a sale of all or substantially all of the assets of the Company; or (d) during any period of 24 consecutive months, the “incumbent directors” (as defined in the 2016 Plan) cease to constitute a majority of the Board.

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Adjustments

Adjustments under the 2016 Plan related to shares or other securities of the Company will be made by the Board.

No Limitations on Company

The making of awards will not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or assets.

Nonexclusivity of the 2016 Plan

Neither