Company: GURE
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193805-25-001103
Chunk: 37

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 37
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 holder, with respect to any award previously granted. The number of shares for which awards which are options or SARs may be granted
to a participant under the 2025 Plan during any calendar year is limited to 1,000,000.

Options.

The term of each stock option shall be as specified
in the option agreement; provided, however, that except for stock options which are ISOs, granted to an employee who owns or is deemed
to own (by reason of the attribution rules applicable under Code Section 424(d)) more than 10% of the total combined voting power of all
classes of shares of the Company or of any parent corporation or subsidiary corporation thereof (both as defined in Section 424 of the
Code), within the meaning of Section 422(b)(6) of the Code (a “ten percent shareholder”), no option shall be exercisable after
the expiration of ten (10) years from the date of its grant (five (5) years for an employee who is a ten percent shareholder).

The price at which a share may be purchased upon
exercise of a stock option shall be determined by the Plan Committee; provided, however, that such option price (i) shall not be less
than the fair market value of a share on the date such stock option is granted, and (ii) shall be subject to adjustment as provided in
the 2025 Plan. The Plan Committee or the Board of Directors shall determine the time or times at which, or the circumstances under which,
a stock option may be exercised in whole or in part, the time or times at which options shall cease to be or become exercisable following
termination of the stock option holder’s employment or upon other conditions, the methods by which such exercise price may be paid
or deemed to be paid, the form of such payment, and the methods by or forms in which shares will be delivered or deemed to be delivered
to participants who exercise stock options.

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Options which are ISOs shall comply in all respects
with Section 422 of the Code. In the case of an ISO granted to a ten percent shareholder, the per share exercise price under such ISO
(to the extent required by the Code at the time of grant) shall be no less than 110% of the fair market value of a share on the date such
ISO is granted. ISOs may only be granted to employees of the Company. In addition, the aggregate fair market value of the shares subject