Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 53

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 53
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 affiliate or any business entity to be acquired by the Company or an affiliate, or any other right of a grantee to receive payment from the Company or any affiliate. Such additional, tandem or substitute or exchange awards may be granted at any time. If an award is granted in substitution or exchange for another award, the Board will have the right to require the surrender of such other award in consideration for the grant of the new award. Subject to the requirements of applicable law, the Board may make awards in substitution or exchange for any other award under another plan of the Company, any affiliate or any business entity to be acquired by the Company or an affiliate. In addition, awards may be granted in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the Company or any affiliate, in which the value of shares subject to the award is equivalent in value to the cash compensation (for example, RSUs or restricted stock).

Terms and Conditions of Options

The option price of each option will be fixed by the Board and stated in the related award agreement. The option price of each option intended to be an ISO (except those that constitute substitute awards) will be at least the fair market value on the grant date. In the event that a grantee is a “ten percent stockholder” (as defined in the 2016 Plan) as of the grant date, the option price of an option granted to such grantee that is intended to be an ISO will be not less than 110 percent of the fair market value on the grant date. In no case will the option price of any option be less than the par value of a share. Subject to the 2016 Plan, each option will become exercisable at such times and under such conditions (including performance requirements) as stated in the award agreement. Each option will terminate, and all rights to purchase shares under the 2016 Plan will cease, upon the expiration of the option term stated in the award agreement not to exceed 10 years from the grant date, or under such circumstances and on such date prior thereto as is set forth in the 2016 Plan or as may be fixed by the Board and stated in the related award agreement. In the event that the grantee is a ten percent stockholder, an option granted to such grantee that is intended to be an ISO at the grant date will not be exercisable after the expiration of five years from its grant date. Notwithstanding any other provision of the 2016 Plan, in no event may any option