Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 69

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 69
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provided, however, that the Evergreen Increase shall not apply to, and shall not increase the ISO Pool. Shares issued under the Plan shall
consist in whole or in part of authorized but unissued Shares, treasury Shares, or Shares purchased on the open market or otherwise, all
as determined by the Company from time to time. For the avoidance of doubt, Shares outstanding for purposes of this Section are measured
on a post-reverse split basis and reflect the September 30, 2025 reverse split (“Reverse Split”). Plan Share numbers
are equitably adjusted to reflect the Reverse Split, as described in Section 15.

| 6. | Section 4.2.4 of the Plan is amended and restated to read: |

| 4.2.4 | Repurchased, Surrendered, or Forfeited Awards |

If Issued
Shares are repurchased by, or are surrendered or forfeited to the Company at no more than cost, such Shares shall again be available for
the grant of Awards, provided that this re-availability shall not apply to Shares described in Section 4.2.5.

| 7. | Section 4.2.5 of the Plan is amended and restated to read: |

| 4.2.5 | Payment of Option Price or Tax Withholding in Shares; Other Prohibited Recycling |

Notwithstanding anything to the contrary contained herein:
Shares subject to an Award under the Plan shall not again be made available for issuance or delivery under the Plan if such Shares are
(i) Shares tendered in payment of an Option, (ii) Shares delivered or withheld by the Company to satisfy any tax withholding obligation,
(iii) Shares covered by a Share-settled SAR or other Shares that were not issued upon the settlement of the SAR, or (iv) Shares that are
repurchased by the Company using proceeds received from the exercise of Options or any other Awards.

| 8. | A new Section 6.4 is added: |

| 6.4 | Minimum Vesting |

Except
as provided in this Section, no Award shall vest and no restrictions with respect to any Award shall lapse earlier than the first anniversary
of the Grant Date, and any Award subject to performance conditions shall have a performance period of at least 12 months; provided that
the Board may grant Awards without regard to the foregoing with respect to up to five percent (5%) of the Aggregate Reserve, and these
limits shall not apply to Awards granted to