Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 41

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 41
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 Amended Incentive Plan will amend the 2023
Incentive Plan to: (i) increase the number of Authorized Shares (as defined below) reserved for issuance under the Amended Incentive Plan
by 3,042,655 to 3,476,722 subject to adjustment (as described in (viii) below) to proportionately adjust the number of shares of Common
Stock reserved for issuance as awards under the Amended Incentive Plan (the “”) in the event the total
number of outstanding shares of Common Stock increases and to avoid dilution of intended benefits of the Amended Incentive Plan; (ii)
addition of an evergreen provision (the “”) that provides for an automatic increase to the number
of Authorized Shares on each year, if and to the extent necessary, so that the total number of Authorized Shares then available for issuance
under the Plan equals 15% of the total number of shares of Common Stock outstanding as of the last day of the immediately preceding fiscal
year; provided, however, that (i) no increase shall occur if the number of Authorized Shares then available for issuance already equals
or exceeds such 15% threshold, and (ii) the Evergreen Provision shall not apply to, and shall not increase, the number of shares of Common
Stock that may be issued pursuant to

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Incentive Stock Options; (iii) addition of an equitable adjustment provision (the “”) that provides for the number of Authorized Shares to be proportionately adjusted upon the occurrence of an increase
in the number of outstanding shares of Common Stock such that the quotient of (a) the number of Authorized Shares immediately prior to
such increase and (b) the number of shares of Common Stock outstanding immediately prior to such increase is equal to the quotient of
(x) the number of Authorized Shares immediately after such increase and (y) the number of shares of Common Stock outstanding immediately
after such increase; (iv) provide that any dividends and dividend equivalents on any Awards prior to the vesting of the underlying shares
of Common Stock are accumulated and paid out only upon vesting or satisfaction of performance goals; (v) prohibit the repricing of outstanding
Stock Options or SARS (as defined below) and similar actions without obtaining stockholder approval; (vi) clarify that Shares tendered
to pay the Option Price or tax withholding, Shares withheld to satisfy tax obligations, Shares underlying a Share-settled SAR that