Company: XXII
Filing Date: 2025-05-22
Form Type: PRE 14A
Source: 0001641172-25-012101
Chunk: 43

Company: 22nd Century Group, Inc.
Filing Date: 2025-05-22
Form: PRE 14A
Chunk 43
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 stockholders was approved by a vote of at least two-thirds of the then-serving continuing 
 directors.                                                                                       |

If an award is considered deferred compensation subject to the provisions of Code Section 409A, then the Administrator may include an amended definition of “change of control” in the award agreement issued with respect to such award as necessary to comply with, or as necessary to permit a deferral under, Code Section 409A.

The Plan does not provide for a “gross-up” for any excise taxes imposed on golden parachute payments under Code Section 4999. Rather, except to the extent the participant has in effect an employment or similar agreement with us or any affiliate or is subject to a policy that provides for a more favorable result to the participant, if any payments or benefits paid by us pursuant to the Plan would cause some or all of such payments or benefits in conjunction with any other payments or benefits in connection with a change of control to be subject to the tax imposed by Code Section 4999, then these payments will either be cut back to a level below the amount triggering the tax or be delivered in full, whichever will provide the greater after-tax benefit to the participant.

Termination and Amendment

The Plan will expire on the tenth anniversary of the most recent stockholder approval, subject to the Board’s right to terminate the Plan at any time. If approved, this proposal constitutes stockholder approval. In addition, the Board or the Administrator may amend the Plan at any time, except:

| ● | Our                                                                                          
 Board of Directors must approve any amendment to the Plan if we determine such approval is   
 required by prior action of the Board, applicable corporate law or any other applicable law; |

| 30 |

| ● | Stockholders                                                                                  
 must approve any amendment to the Plan if we determine that such approval is required by      
 Section 16 of the Exchange Act, the listing requirements of any principal securities exchange 
 or market on which our common stock is then traded, or any other applicable law; and          |

Stockholders must approve any further amendment to the Plan that materially increases the number of shares of common stock reserved under the Plan, that would materially expand the group of individuals eligible to become participants or that diminishes the provisions prohibiting repricing or backdating stock options and stock appreciation rights.

The Administrator generally may modify, amend or cancel any award or waive any restrictions or conditions applicable to any award or the exercise of the award. Any modification or amendment that materially diminishes the rights of the participant or any other person who may have