Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 573

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 573
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 and to encourage
them to devote their best efforts to our business, thereby advancing our interests and the interests of our stockholders. By means of
the 2022 Equity Incentive Plan, we seek to retain the services of such eligible persons and to provide incentives for such persons to
exert maximum efforts for our success and the success of our subsidiaries.

Description
of the 2022 Equity Incentive Plan

The
following description of the principal terms of the 2022 Equity Incentive Plan is a summary and is qualified in its entirety by the full
text of the 2022 Equity Incentive Plan.

Administration.
In general, the 2022 Equity Incentive Plan is administered by the Compensation Committee of the board of directors. The Compensation
Committee determines the persons to whom options to purchase shares of common stock, stock appreciation rights (or “SARs”),
restricted stock units, restricted or unrestricted shares of common stock, performance shares, performance units, incentive bonus awards,
other stock-based awards and other cash-based awards may be granted. The Compensation Committee may also establish rules and regulations
for the administration of the 2022 Equity Incentive Plan and amendments or modifications of outstanding awards. No options, stock purchase
rights or awards may be made under the 2022 Equity Incentive Plan on or after January 7, 2032 (or, the expiration date), but the 2022
Equity Incentive Plan will continue thereafter in effect with respect to previously granted options, SARs or other awards that remain
outstanding.

Eligibility.
Persons eligible to receive options, SARs or other awards under the 2022 Equity Incentive Plan are those employees, officers,
directors, consultants, advisors and other individual service providers of ours who, in the opinion of the Compensation Committee, are
in a position to contribute to our success, or any person who is determined by the Compensation Committee to be a prospective employee,
officer, director, consultant, advisor or other individual service provider of the Company or any subsidiary.

Shares
Subject to the 2022 Equity Incentive Plan. The aggregate number of shares of common stock initially available for issuance in
connection with options and other awards granted under the 2022 Equity Incentive Plan was 600,000. The number of shares of common stock
available for issuance under the 2022 Equity Incentive Plan automatically increases on the first day of each fiscal year of the Company
comm