Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 141

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 8
Chunk 141
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 the 2015 Plan, incentive stock options may be granted at a price not less than fair market value of the
common stock (110% of fair value to holders of 10% or more of voting stock). If the Common Stock is at the time of grant listed on any
Stock Exchange, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question on the
Stock Exchange, as such price is officially quoted in the composite tape of transactions on such exchange and published in The Wall Street
Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing
selling price on the last preceding date for which such quotation exists. If the Common Stock is at the time neither listed on any Stock
Exchange, then the Fair Market Value shall be determined by the Board of Directors or the Committee acting in its capacity as administrator
of the Plan after taking into account such factors as the Plan Administrator shall deem appropriate. The maximum number of shares of
Common Stock which may be issued over the term of the Plan shall not exceed Twenty-Two Thousand Five Hundred (22,500). Options are exercisable
over periods not to exceed 10 years (five years for incentive stock options granted to holders of 10% or more of voting stock) from the
date of grant. Shares of Common Stock issued under the Stock Issuance Program may, in the discretion of the Plan Administrator, be fully
and immediately vested upon issuance or may vest in one or more instalments over the Participant’s period of Service or upon attainment
of specified performance objectives. The Plan Administrator may not impose a vesting schedule upon any option grant or the shares of
Common Stock subject to that option which is more restrictive than twenty percent (20%) per year vesting, with the initial vesting to
occur not later than one (1) year after the option grant date. However, such limitation shall not be applicable to any option grants
made to individuals who are officers of the Corporation, non-employee Board members or independent consultants.

2021
Equity Incentive Plan

In
connection with the Business Combination, our board of directors adopted, and our stockholders approved, the Lottery. com 2021 Incentive
Award Plan (the “2021 Plan”) under which 616,518shares of Class A common stock were initially
reserved for issuance. The 2021 Plan allows for the issuance of incentive and