Company: PDEX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001079973-25-001567
Chunk: 48

Company: PRO DEX INC
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 48
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 accordance with under Section 10.17 and related to an Award that is credited
with the amount of any cash dividends or stock distributions that would be payable with respect to the shares of Common Stock subject
to such Awards had such shares been outstanding shares of Common Stock.

2.15 Exchange Act means the Securities Exchange Act of 1934, as amended.

2.16 Exercise Price means, with respect to a Stock Appreciation Right, the amount established by the Committee in the Award Agreement which is to
be subtracted from the Fair Market Value on the date of exercise in order to determine the amount of the payment to be made to the Participant,
as further described in Section 6.2(b).

2.17 Fair Market Value means, on any date, (i) the closing sale price of a share of Common Stock, as reported on the Nasdaq Capital Market (“NASDAQ”)
(or other established stock exchange on which the Common Stock is regularly traded) on such date or, if there were no sales on such date,
on the last date preceding such date on which a sale was reported; or (ii) if shares of Common Stock are not listed for trading on
an established stock exchange, Fair Market Value shall be determined by the Committee in good faith.

2.18 Incentive Stock Option means a stock option within the meaning of Section 422 of the Code.

2.19 Merger
means any merger, reorganization, consolidation, exchange, transfer of assets or other transaction having similar effect involving the
Company.

2.20 Non-Qualified Stock Option means a stock option which is not an Incentive Stock Option.

2.21 Options
means all Non-Qualified Stock Options and Incentive Stock Options granted at any time under the Plan.

2.22 Outstanding Common Stock means, at any time, the issued and outstanding shares of Common Stock.

2.23 Participant
means a person designated to receive an Award under the Plan in accordance with Section 5.1.

2.24 Performance Awards means Awards granted in accordance with Article VIII.

| B-3 |

2.25 Performance Goals are based on one or more of the following measures and intended to comply with the performance-based compensation exception
under Code Section 162(m):

| • |     | Net earnings or net income (before or after 
 taxes)                                      |

| • |     | Earnings per share or earnings per share 
 growth, total units, or unit growth      |

| • |     | Net sales, sales growth,