Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 45

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 45
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 Amended 2023 Plan pursuant to the Evergreen Provision (in the aggregate, the “Share Reserve”). In no event shall the
maximum aggregate number of shares that may be issued under the Amended 2023 Plan pursuant to incentive stock options exceed 300,000,000
shares. In no event shall fractional shares be issued under the Amended 2023 Plan. The maximum number of shares that may be granted under
the Amended 2023 Plan during any single fiscal year to a non-employee director, when taken together with any cash fees paid to such non-employee
director during such year in respect of his or her service as a non-employee director (including service as a member or chair of any committee
of the board of directors), shall not exceed US$750,000 in total value (calculating the value of any such Awards based on the grant date
fair value of such Awards for financial reporting purposes).

In the event there is a specified type of change
in our capital structure, such as a stock split, reverse stock split, or recapitalization, appropriate adjustments will be made to (i) the
class and maximum number of shares reserved for issuance under the Amended 2023 Plan and (ii) the class and maximum number of Shares
that may be issued on the exercise of incentive stock options (“ISOs”).

Awards.The Amended
2023 Plan permits the Company to grant various types of discretionary equity compensation awards under the Amended 2023 Plan (the “Awards”),
including:

| ● | ISOs; |

| ● | Nonqualified stock options (“NSOs”); |

| ● | Restricted stock; |

| ● | Restricted stock units (“RSUs”); |

| ● | Stock bonus awards; and |

| ● | Performance awards. |

An individual who has received one or more Awards
under the Amended 2023 Plan is referred to in this summary as a “participant.”

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A brief description of each award type follows.

| ● | ISOs and NSOs.    Stock options provide                                                                                                 
 for the purchase of shares in the future at an exercise price set by the Committee on the grant date. ISOs are stock options that by    
 their terms qualify for, and are intended to qualify for, favorable U.S. federal tax treatment. NSOs are stock options that by their    
 terms either do not qualify for or are not intended to qualify as ISOs. The Company may