Company: GURE
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193805-25-001103
Chunk: 65

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 65
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 be required to satisfy before the Holder would become entitled to payment
pursuant to Section 11.3, the number of Units awarded to the Holder and the dollar value or formula assigned to each such Unit. Such payment
shall be subject to a “substantial risk of forfeiture” under Section 409A of the Code. At the time of such Award, the Committee
may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to Performance Unit Awards, including,
but not limited to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable performance period.
The terms and conditions of the respective Performance Unit Agreements need not be identical.

11.3.
The Holder of a Performance Unit shall be entitled to receive a cash payment equal to the dollar value assigned to such Unit under the
applicable Performance Unit Agreement if the Holder and/or the Company satisfy (or partially satisfy, if applicable under the applicable
Performance Unit Agreement) the Performance Goals set forth in such Performance Unit Agreement. All payments shall be made no later than
by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company’s fiscal year to which such
performance goals and objectives relate.

<div align='center'>ARTICLE XII

PERFORMANCE STOCK AWARDS</div>

12.1. A Performance Stock Award shall constitute a promise to grant Shares (or cash equal to the Fair Market Value of Shares)
to the Holder at the end of a specified Performance Period subject to achievement of specified Performance Goals. At the time a Performance
Stock Award is made, the Committee shall establish the Performance Period and applicable Performance Goals based on selected Performance
Criteria. Each Performance Stock Award may have different Performance Goals, in the discretion of the Committee. A Performance Stock Award
shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends or any other rights
associated with ownership of Shares unless and until the Holder shall receive a distribution of Shares pursuant to Section 12.3.

12.2. At the time any Award is made under this Article XII, the Company and the Holder shall enter into
a Performance Stock Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Committee shall set forth in the applicable Performance Stock Agreement the Performance Period, selected Performance
Criteria and Performance Goals which the Holder and/or the Company would be required to satisfy before the Holder would become entitled
to