Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 25

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 6
Chunk 25
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 is terminated will remain in effect until it is exercised or it expires. The Plan provides that it is solely within the
discretion of the Board to determine who should receive stock options and in what amounts, subject to the following conditions:

(a) Options will be non-assignable and non-transferable except that they will be exercisable by the personal representative of the option holder in the event of the option holder’s death;

(b) Under
the Plan, options may be exercisable for a maximum of ten years from grant date;

(c) Under
the Plan, options to acquire more than 5% of the issued shares of the Company may be granted to any one individual in any 12-month period
the approval of the disinterested shareholders of the Company;

(d) Options to acquire no more than 2% of the issued shares of the Company may be granted to any
one consultant in any 12-month period;

(e) Options
to acquire no more than an aggregate of 2% of the issued shares of the Company may be granted to an employee conducting investor relations
activities (as defined in TSX Venture Exchange Policy 1.1), in any 12 month period;

(f) Options
to acquire no more than 10% of the issued shares of the Company may be granted to any insiders in any 12-month period;

(g) Under
the Plan, options held by an option holder who is a director, employee, consultant or management company employee are no longer required
to expire within 90 days after the option holder ceases to be a director, employee, consultant or management company employee;

(h) Under the Plan, options held by an option holder who is engaged in investor relations activities
are no longer required expire within 30 days after the option holder ceases to be employed by the Company to provide investor relations
activities; and

(i)
In the event of an option holder’s death, the option holder’s personal representative may exercise any portion of the
option holder’s vested outstanding options for a period of one year following the option holder’s death.

The
Plan provides that other terms and conditions may be attached to a particular stock option, such terms and conditions to be referred
to in a schedule attached to the option certificate. Stock options granted to directors, senior officers, employees or consultants will
vest when granted unless otherwise determined by the Board of Directors on a case by case basis, other than stock options granted to
consultants performing investor relations activities, which will vest in stages over 12