Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 56

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 56
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 any reason other than Cause,
the exercisability, vesting and settlement of an award may be accelerated.

Outstanding awards may also be
assumed, continued or substituted by the surviving, continuing, successor or purchasing entity or its parent, including by providing substantially
equivalent awards with respect to the acquiror’s equity or other consideration, as determined by the Board in its discretion. In
addition, outstanding awards may be canceled in exchange for a payment in cash, stock or other property equal to the fair market value
of the consideration payable per share in the Change in Control, reduced by any exercise or purchase price, with such payment timing and
treatment of unvested portions as determined by the Board consistent with Section 409A. Awards not assumed, continued, exercised or settled
as of the time of the Change in Control may be canceled without payment to the extent not vested or exercisable, and no payment will be
made for any stock option or stock appreciation right to the extent its exercise price equals or exceeds the value of the consideration
received for a share of common stock in the Change in Control.

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Adjustments Upon Changes in Capitalization. In the event that the number of outstanding shares of Common Stock is increased, the number of Authorized Shares shall
be proportionately adjusted upon the occurrence of such increase such that the quotient of (i) the number of Authorized Shares immediately
prior to such increase and (ii) the number of shares of Common Stock outstanding immediately prior to such increase is equal to the quotient
of (x) number of Authorized Shares immediately after such increase and (y) the number of shares of Common Stock outstanding immediately
after such increase (the “”); provided, however, that any such Equitable Adjustment is subject
to and will take effect following approval of the Equitable Adjustment by the Board or the Committee.

In the event that any dividend
or other distribution (whether in the form of cash, shares of our Common Stock, other securities or other property), recapitalization,
stock split, reverse stock split, rights offering, reorganization, merger, consolidation, split-up, spin-off, split-off, combination,
subdivision, repurchase, or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights
to purchase shares of Common Stock or other securities of the Company, or other similar corporate transaction or event affects the fair
value of an award, then the Committee shall adjust any or all