Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 70

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 70
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 Non-Employee Directors in respect of service as a director. These limits shall also not apply
to accelerated vesting in connection with death, Disability, retirement (as such term may be defined in the Grantee’s Award Agreement
or in another applicable agreement or in accordance with the Company’s then current employment policies and guidelines), or a Change
in Control to the extent otherwise permitted by the Plan.

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| 9. | Section 8.1 of the Plan is amended and restated to read: |

| 8.1 | Option Price; No Discounted Options |

To ensure
that no discounted Options are granted under the Plan, the Option Price of each Option shall be fixed by the Board and stated in the related
Award Agreement. Each Option shall be separately designated in the Award Agreement as either an Incentive Stock Option or Nonqualified
Option. The Option Price of each Option (except those that constitute Substitute Awards) shall be at least the Fair Market Value of a
Share on the Grant Date; provided, however, that in the event that a Grantee is a Ten Percent Stockholder as of
the Grant Date, the Option Price of an Option granted to such Grantee that is intended to be an Incentive Stock Option shall be not less
than 110% of the Fair Market Value of a Share on the Grant Date. In no case shall the Option Price of any Option be less than the par
value of a Share.

| 10. | Section 9.1 of the Plan is amended and restated to read: |

| 9.1 | Right to Payment; Exercise Price |

A SAR
shall confer on the Grantee a right to receive, upon exercise thereof, the excess of (i) the Fair Market Value of one Share on the
date of exercise over (ii) the SAR Exercise Price. The Award Agreement for a SAR (except those that constitute Substitute Awards)
shall specify the SAR Exercise Price, which shall be fixed on the Grant Date as not less than the Fair Market Value of a Share on that
date and in no case less than the par value of a Share. SARs may be granted alone or in conjunction with all or part of an Option or at
any subsequent time during the term of such Option or in conjunction with all or part of any other Award. A SAR granted in tandem with
an outstanding Option after the Grant Date of such Option shall have a SAR Exercise Price that is equal to the