Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 172

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 172
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 whether the SAR will settle in cash, common stock or a combination of the two.

Performance
and Stock Awards

The
Administrator may grant awards of shares of common stock, restricted stock, RSUs, performance shares or performance units. Restricted
stock means shares of common stock that are subject to a risk of forfeiture or restrictions on transfer, which may lapse upon the achievement
or partial achievement of performance goals (as described below) or upon the completion of a period of service. An RSU grants the participant
the right to receive cash or shares of common stock the value of which is equal to the fair market value of one share of common stock,
to the extent performance goals are achieved or upon the completion of a period of service. Performance shares give the participant the
right to receive shares of common stock to the extent performance goals are achieved. Performance units give the participant the right
to receive cash or shares of common stock valued in relation to a unit that has a designated dollar value or the value of which is equal
to the fair market value of one or more shares of common stock, to the extent performance goals are achieved.

The
Administrator will determine all terms and conditions of the awards including (a) whether performance goals must be achieved for the
participant to realize any portion of the benefit provided under the award, (b) the length of the vesting or performance period and,
if different, the date that payment of the benefit will be made, (c) with respect to performance units, whether to measure the value
of each unit in relation to a designated dollar value or the fair market value of one or more shares of common stock, and (d) with respect
to performance shares, performance units, and RSUs, whether the awards will settle in cash, in shares of common stock (including restricted
stock), or in a combination of the two.

Cash
Incentive Awards

The
Administrator may grant cash incentive awards. An incentive award is the right to receive a cash payment to the extent one or more performance
goals are achieved. The Administrator will determine all terms and conditions of a cash incentive award, including, but not limited to,
the performance goals (described below), the performance period, the potential amount payable, and the timing of payment. While the 2022
Omnibus Plan permits cash incentive

Performance
Goals

For
purposes of the 2022 Omnibus Plan, the Administrator may establish objective or subjective performance goals which may apply to any performance
award. Such performance