Company: NDRA
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001654954-25-012254
Chunk: 58

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 58
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 by the Board.

In the event of a change in control, the surviving, continuing, successor or purchasing corporation or other business entity or parent thereof, as the case may be, may, without the consent of any grantee, either assume or continue the Company’s rights and obligations under each or any award or portion thereof outstanding immediately prior to the change in control or substitute for each or any such outstanding award or portion thereof a substantially equivalent award with respect to the acquiror’s stock, as applicable. Any award or portion thereof which is neither assumed or continued by the acquiror in connection with the change in control nor exercised or settled as of the time of consummation of the change in control will terminate and cease to be outstanding effective as of the time of consummation of the change in control.

The Board may, without the consent of any grantee, determine that, upon the occurrence of a change in control, each or any award or a portion thereof outstanding immediately prior to the change in control and not previously exercised or settled will be canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined by the Board) subject to such canceled award in (i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the change in control or (iii) other property which, in any such case, will be in an amount having a fair market value equal to the fair market value of the consideration to be paid per share in the change in control, reduced by the exercise or purchase price per share, if any, under such award.

Unless other provided in the applicable award agreement, a “change in control” generally means the consummation of any of the following events following the effective date of the 2016 Plan Amendment: (a) the acquisition by any individual, entity or group of beneficial ownership of more than 50% of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; or (b) a reorganization, merger, consolidation or recapitalization of the Company (a “business combination”), other than a business combination in which more than 50% of the combined voting power of the outstanding voting securities of the surviving or resulting entity immediately following the business combination is held by the persons who, immediately prior to the business combination, were the holders of the voting securities of the Company entitled to vote generally in the election of directors; or (c) a complete