Company: GURE
Filing Date: 2025-07-16
Form Type: PRE 14A
Source: 0001193805-25-001026
Chunk: 70

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-16
Form: PRE 14A
Chunk 70
---
 the number of Shares then covered by such Award.

Gulf Resources, Inc. 2025 Stock Incentive Plan

15.3. In the event of changes to the outstanding Shares by reason of an extraordinary cash dividend, reorganization,
merger, consolidation, combination, split-up, spin-off, exchange or other relevant change in capitalization occurring after the date of
the grant of any Award and not otherwise provided for under this Article XV, any outstanding Awards and any Award Agreements evidencing
such Awards shall be adjusted by the Board in its discretion in such manner as the Board shall deem equitable or appropriate taking into
consideration the applicable accounting and tax consequences, as to the number and price of Shares or other consideration subject to such
Awards. In the event of any adjustment pursuant to Sections 15.1, 15.2 or this Section 15.3, the aggregate number of Shares available
under the Plan pursuant to Section 5.1 may be appropriately adjusted by the Board, the determination of which shall be conclusive. In
addition, the Committee may make provision for a cash payment to a Holder or a person who has an outstanding Award. In addition, the Committee
may make provision for a cash payment to a Holder or a person who has an outstanding Award.

15.4g. The Committee may, in its sole discretion, at the time an Award is made or at any time prior to,
coincident with or after the time of a Change of Control, cause any Award either (i) to be canceled in consideration of a payment in cash
or other consideration in amount per share equal to the excess, if any, of the price or implied price per Share in the Change of Control
over the per Share exercise, base or purchase price of such Award, which may be paid immediately or over the vesting schedule of the Award;
(ii) to be assumed, or new rights substituted therefore, by the surviving corporation or a parent or subsidiary of such surviving corporation
following such Change of Control; (iii) accelerate any time periods, or waive any other conditions, relating to the vesting, exercise,
payment or distribution of an Award so that any Award to a Holder whose employment has been terminated as a result of a Change of Control
may be vested, exercised, paid or distributed in full on or before a date fixed by the Committee; (iv) to be purchased from a Holder whose
employment has been terminated as a result of a Change of Control, upon the Holder’s request