Company: PDEX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001079973-25-001567
Chunk: 54

Company: PRO DEX INC
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 54
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 to grant to any Participant one or more Stock Appreciation Rights. Such Stock
Appreciation Rights may be granted either independent of or in tandem with Options granted to the same Participant. Stock Appreciation
Rights granted in tandem with Options may be granted simultaneously with, or, in the case of Non-Qualified Stock Options, subsequent to,
the grant to such Participant of the related Option; provided however, that: (i) any Option covering any share of Common Stock shall
expire and not be exercisable upon the exercise of any Stock Appreciation Right with respect to the same share, (ii) any Stock Appreciation
Right covering any share of Common Stock shall expire and not be exercisable upon the exercise of any related Option with respect to the
same share, and (iii) an Option and Stock Appreciation Right covering the same share of Common Stock may not be exercised simultaneously.
Upon exercise of a Stock Appreciation Right with respect to a share of Common Stock, the Participant shall be entitled to receive an amount
equal to the excess, if any, of (A) the Fair Market Value of a share of Common Stock on the date of exercise over (B) the Exercise
Price of such Stock Appreciation Right established in the Award Agreement, which amount shall be payable as provided in Section 6.2(c).

(b) Exercise Price. The Exercise Price established under any Stock Appreciation Right granted under the Plan shall be determined by the Committee,
but in the case of Stock Appreciation Rights granted in tandem with Options shall not be less than the Purchase Price of the related Option;
provided, however, that in no event shall the Exercise Price be less than the Fair Market Value on the Date of Grant. Upon exercise of
Stock Appreciation Rights granted in tandem with options, the number of shares subject to exercise under any related Option shall automatically
be reduced by the number of shares of Common Stock represented by the Option or portion thereof which are surrendered as a result of the
exercise of such Stock Appreciation Rights.

(c) Payment of Incremental Value. Any payment which may become due from the Company by reason of a Participant's exercise of a Stock Appreciation
Right may be paid to the Participant as determined by the Committee (i) all in cash, (ii) all in Common Stock, or (iii) in
any combination of cash and Common Stock. In the event that all or a portion of the payment is made in Common Stock, the number of shares
of Common Stock delivered in satisfaction of such payment shall