Company: NOTV
Filing Date: 2025-01-23
Form Type: DEF 14A
Source: 0001628280-25-002250
Chunk: 31

Company: Inotiv, Inc.
Filing Date: 2025-01-23
Form: DEF 14A
Chunk 31
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 Description of the 2024 Plan
The major features of the 2024 Plan are summarized below. The summary is qualified in its entirety by reference to the full text of the 2024 Plan, as proposed to be amended, which is attached to the proxy statement as Appendix A.

Eligible Participants . Employees, consultants, advisors and non-employee directors of the Company will be eligible to receive awards under the 2024 Plan. As of January 1, 2025, there were 182 employees, five non-employee directors of the Company and an indeterminate number of consultants and advisors who were eligible to receive awards under the 2024 Plan.

Administration . The 2024 Plan is administered by the Compensation Committee (referred to in the remainder of this section as the “Committee”). To the extent permitted by applicable law, the Committee may delegate to a committee of one or more members of the Board, or to one or more executive officers of the Company, the authority, subject to the terms, limitations and conditions as the Committee shall determine in accordance with applicable law, to grant awards to eligible recipients under the 2024 Plan and related authority and responsibilities under the 2024 Plan. The Committee may also delegate ministerial duties to other persons, agents or advisors.

The Committee has the authority to determine the persons to whom awards will be granted, the timing, type and number of shares covered by each award, and the terms and conditions of the awards. The Committee may also establish and modify rules to administer the 2024 Plan, interpret the 2024 Plan and any related award agreement, cancel or suspend an award, and amend the terms of outstanding awards to the extent permitted under the 2024 Plan.

Except in connection with equity restructurings and other situations in which share adjustments are specifically authorized, the 2024 Plan prohibits the Committee from repricing any outstanding “underwater” option or SAR awards without the prior approval of our shareholders. For these purposes, a “repricing” includes amending the terms of an underwater option or SAR award to lower the exercise price, canceling an underwater option or SAR award in conjunction with granting a replacement option or SAR award with a lower exercise price, canceling an underwater option or SAR award in exchange for cash, other property or grant of a new full value award at a time when the exercise price of the option or SAR is greater than the current fair market value of our common stock, or otherwise making an underwater option or SAR award subject to any action