Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 323

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 323
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 satisfaction of such conditions as the Compensation Committee may impose.

Effect
of Certain Corporate Transactions. The Compensation Committee may, at the time of the grant of an award provide for the effect
of a change in control (as defined in the 2022 Equity Incentive Plan) on any award, including (i) accelerating or extending the time
periods for exercising, vesting in, or realizing gain from any award, (ii) eliminating or modifying the performance or other conditions
of an award, or (iii) providing for the cash settlement of an award for an equivalent cash value, as determined by the Compensation Committee.
The Compensation Committee may, in its discretion and without the need for the consent of any recipient of an award, also take one or
more of the following actions contingent upon the occurrence of a change in control: (a) cause any or all outstanding options and SARs
to become immediately exercisable, in whole or in part; (b) cause any other awards to become non-forfeitable, in whole or in part; (c)
cancel any option or SAR in exchange for a substitute option; (d) cancel any award of restricted stock, restricted stock units, performance
shares or performance units in exchange for a similar award of the capital stock of any successor corporation; (e) cancel or terminate
any award for cash and/or other substitute consideration in exchange for an amount of cash and/or property equal to the amount, if any,
that would have been attained upon the exercise of such award or realization of the participant’s rights as of the date of the
occurrence of the change in control, but if the change in control consideration with respect to any option or SAR does not exceed its
exercise price, the option or SAR may be canceled without payment of any consideration; or (f) make such other modifications, adjustments
or amendments to outstanding awards as the Compensation Committee deems necessary or appropriate.

Amendment,
Termination. The board of directors may at any time amend the 2022 Equity Incentive Plan for the purpose of satisfying the requirements
of the Code, or other applicable law or regulation or for any other legal purpose, provided that, without the consent of our stockholders,
the board of directors may not (a) increase the number of shares of common stock available under the 2022 Equity Incentive Plan, (b)
change the group of individuals eligible to receive options, SARs and/or other awards, or (c) extend the term of the 202