Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 372

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1
Chunk 372
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 relate after the change of control are not listed and traded on a national securities exchange,
    then (a) each participant must be provided the option to elect to receive, in lieu of the issuance of such securities, cash in an
    amount equal to the fair value of the securities that would have otherwise been issued, and (b) no reduction may be taken to reflect
    a discount for lack of marketability, minority, or any similar consideration, for purposes of determining the fair value of such
    securities.

    ●
    If
    a participant is terminated from employment without cause, or due to death or disability, or the participant resigns employment for
    good reason (as defined in any award or other agreement between the participant and our company or an affiliate) within two years
    following the change of control, then upon such termination, all of the participant’s awards in effect on the date of such
    termination will vest in full or be deemed earned in full.

67

If
the purchaser, successor, or surviving entity does not assume the awards or issue replacement awards, then immediately prior to the change
of control date, unless the Administrator otherwise determines:

    ●
    Each
    stock option or SAR then held by a participant will become immediately and fully vested, and all stock options and SARs will be cancelled
    on the change of control date in exchange for a cash payment equal to the excess of the change of control price of the shares of
    common stock over the purchase or grant price of such shares under the award.

    ●
    Unvested
    restricted stock and RSUs (that are not performance awards) will vest in full.

    ●
    All
    performance shares, performance units and cash incentive awards for which the performance period has expired will be paid based on
    actual performance, and all such awards for which the performance period has not expired will be cancelled in exchange for a cash
    payment equal to the amount that would have been due under such awards, valued assuming achievement of target performance goals at
    the time of the change of control, prorated based on the number of full months elapsed in the performance period.

    ●
    All
    unvested dividend equivalent units will vest (to the same extent as the award granted in tandem with such units) and be paid.

    ●
    All
    other unvested awards will vest and any amounts payable will be paid in cash.

Term
of Plan

Unless