Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 50

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 50
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 during the period that the award is outstanding or to the extent the
award is ultimately satisfied by the issuance of shares. An award will not reduce the number of shares that may be issued pursuant to
the Amended Incentive Plan if the settlement of the award will not require the issuance of shares, as, for example, a SAR that can be
satisfied only by the payment of cash.

“Prior Plan Awards”
means (i) any awards under the Dandrit Biotech USA, Inc. 2014 Stock Incentive Plan or the Enochian Biosciences, Inc. 2019 Equity Incentive
Award Plan (the “”) that are outstanding on July 21, 2023, and that on or after July 21, 2023, are forfeited,
expire or are canceled, and (ii) any shares subject to awards relating to common stock under the Prior Plans that, on or after July 21,
2023 are settled in cash.

Administration. The Amended
Incentive Plan shall be administered by the Board or a committee appointed or designated by the Board to administer the Amended Incentive
Plan (the “”). At any time that there is no Committee to administer the Amended Incentive Plan, any reference
to the Committee is a reference to the Board. The Committee will determine the persons to whom awards are to be made; determine the type,
size, and terms of awards; interpret the Amended Incentive Plan; establish and revise rules and regulations relating to the Amended Incentive
Plan; establish performance goals for awards and certify the extent of their achievement; and make any other determinations that it believes
are necessary for the administration of the Amended Incentive Plan. The Committee may delegate certain of its duties to one or more of
our officers as provided in the Amended Incentive Plan.

Eligibility. Employees (including
any employee who is also a director or an officer), consultants, and non-employee directors of the Company or any of our subsidiaries,
whose judgment, initiative, and efforts contributed to or may be expected to contribute to its successful performance, are eligible to
participate in the Amended Incentive Plan. As of the Record Date, we had11 employees and 3 non-employee directors who would be eligible
for awards under the Amended Incentive Plan.

Stock Options. The Committee
may grant either ISOs qualifying under Section 422 of the Code,