Company: PDEX
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001079973-25-001567
Chunk: 40

Company: PRO DEX INC
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 40
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’s
continued growth, and therefore in the best interest of its shareholders.

Administration

The Compensation Committee
of the Board of Directors will administer the 2016 Plan. All Awards are approved by the Compensation Committee. With respect to the participation
of individuals whose transactions in the Company's equity securities are subject to Section 16 of the Exchange Act, the Plan must
be administered in compliance with the requirements, if any, of Rule 16b-3 under the Exchange Act. Subject to the provisions of the
Plan, the Compensation Committee determines the persons to whom awards are to be granted, the number of shares to be covered by each award,
whether an option is to be an incentive stock option or a non-qualified stock option, the terms of vesting and exercisability of each
option or other award, including the effect thereon of an optionee's termination of service, the type of consideration to be paid to the
Company upon exercise of an option, the duration of each award, and all other terms and conditions of the awards, subject to the policy
that neither the Board of Directors nor the Compensation Committee may reprice stock options.

Eligibility

Generally,
all employees, directors and consultants of the Company or of any present or future parent or subsidiary corporations of the Company are
eligible to participate in the 2016 Plan. Any person eligible under the Plan may be granted a non-qualified stock option. However, only
employees may be granted incentive stock options.

New Plan Benefits

Because Awards under the
2016 Plan are discretionary, no future Awards under the 2016 Plan are determinable at this time.

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Merger and Change in Control

Merger. Effective
upon a merger, as defined in the Plan, all outstanding awards shall terminate unless they are assumed or continued in connection with
the merger. The Compensation Committee has the authority to provide for full or partial vesting of unvested Awards and the release from
restrictions on transfer and repurchase or forfeiture rights of Awards in connection with a merger. The Compensation Committee may condition
any such Award vesting and exercisability or release from restrictions on the termination of service of the participant to the Company
within a specified period following the effective date of the merger.

Change in control. Unless
otherwise provided in the applicable award agreement, effective upon a change in control, as defined in the Plan, all options and SARs
outstanding on the date of such change in control will be assumed by, or replaced