Company: BGLC
Filing Date: 2025-12-03
Form Type: DEF 14A
Source: 0001477932-25-008757
Chunk: 42

Company: BioNexus Gene Lab Corp
Filing Date: 2025-12-03
Form: DEF 14A
Chunk 42
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 action or determination made in good faith with respect to the Plan or any Award.

| A-5 |

1.4 Participation. The Committee may, in its discretion, grant Awards to any Eligible Individual, whether or not he or she has previously received an Award. Participation in the Plan shall be limited to those Key Employees, independent directors, consultants and advisors who have received written notification from the Committee, or from a person designated by the Committee, that they have been selected to participate in the Plan. No such Eligible Individuals shall at any time have the right to be a Participant unless selected by the Committee pursuant to the Plan. No Participant, having been granted an Award, shall have the right to an additional Award in the future unless such Award is granted by the Committee.

1.5 Maximum number of Shares Available for Awards. (a). Subject to the evergreen provisions in Section 1.5(b) as well as the adjustment in accordance with Section 5.2 hereof, the maximum number of Shares for which grants under the Plan shall be available is 472,767 Shares. The maximum number of Shares of stock that may be issued pursuant to the exercise of Incentive Stock Options is 472,767 Shares subject to adjustment as stated.

(b). In addition to subpart (a) above, the number of shares of Shares available for issuance under the Plan shall automatically increase on January 1st of each year for a period of nine years commencing on January 1, 2026 and ending on (and including) January 1, 2035, in an amount equal to five percent (5%) of the total number of shares of Common Stock outstanding on December 31st of the preceding calendar year. Notwithstanding the foregoing, the Board may act prior to the first day of any calendar year, to provide that there shall be no increase in the number of Shares in the Plan for such calendar year or that the increase in the Shares for such calendar year shall be a lesser number of shares of Common Stock than would otherwise occur pursuant to the preceding sentence. For clarity, the maximum number of Shares under the Plan in this Section 4.1 (472,767 Shares as adjusted herein) is a limitation on the number of Shares that may be issued pursuant to the Plan. Accordingly, this Section 4.1 does not limit the granting of Shares outside of the Plan.

(c). In the event any Awards granted under the Plan shall be forfeited, terminate or expire, the number of Shares subject to such