Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 54

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 54
---
 be exercised, in whole or in part, (i) prior to the date the 2016 Plan is approved by the stockholders as provided under the 2016 Plan or (ii) after termination of the option. Unless otherwise provided in the applicable award agreement, an individual holding or exercising an option will have none of the rights of a stockholder (for example, the right to receive cash or dividend payments or distributions attributable to the subject shares or to direct the voting of the subject shares) until the shares covered thereby are fully paid and issued to him. Except as provided in the 2016 Plan or the related award agreement, no adjustment will be made for dividends, distributions or other rights for which the record date is prior to the date of such issuance. An option may, but need not, include a provision whereby the grantee may elect at any time before the grantee’s separation from service to exercise the option as to any part or all of the shares subject to the option prior to the full vesting of the option. Any unvested shares so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Board determines to be appropriate.

| 39 |

Terms and Conditions of SARs

A SAR will confer on the grantee a right to receive, upon exercise thereof, the excess of (i) the fair market value on the date of exercise over (ii) the SAR exercise price. The award agreement for a SAR will specify the SAR exercise price. SARs may be granted alone or in conjunction with all or part of an option or at any subsequent time during the term of such option or in conjunction with all or part of any other award. The Board will determine at the grant date or thereafter, the time or times at which and the circumstances under which a SAR may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the time or times at which SARs will cease to be or become exercisable following separation from service or upon other conditions, the method of exercise, whether or not a SAR will be in tandem or in combination with any other award and any other terms and conditions of any SAR. The term of a SAR granted under the 2016 Plan will be determined by the Board. Such term will not exceed 10 years. Upon exercise of a SAR, a grantee will be entitled to receive payment from the Company (in cash or shares, as set forth in the award agreement) in an amount determined by