Company: GURE
Filing Date: 2025-07-16
Form Type: PRE 14A
Source: 0001193805-25-001026
Chunk: 59

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-16
Form: PRE 14A
Chunk 59
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 the Incentive Stock Option is granted, such Employee is a Ten Percent Stockholder,
unless (i) at the time such Incentive Stock Option is granted the Option price is at least one hundred ten percent (110%) of the Fair
Market Value of the Shares subject to the Incentive Stock Option, and (ii) such Incentive Stock Option by its terms is not exercisable
after the expiration of five (5) years from the date of grant. No Incentive Stock Option shall be granted more than ten (10) years from
the earlier of the Effective Date or date on which the Plan is approved by the Company’s stockholders. The designation by the Committee
of an Option as an Incentive Stock Option shall not guarantee the Holder that the Option will satisfy the applicable requirements for
“incentive stock option” status under Section 422 of the Code.

7.4. Each Option shall be evidenced by an Option Agreement in such form and containing such provisions not
inconsistent with the other provisions of the Plan as the Committee from time to time shall approve, including, but not limited to, provisions
intended to qualify an Option as an Incentive Stock Option. An Option Agreement may provide for the payment of the Option price, in whole
or in part, by the delivery of a number of Shares (plus cash if necessary) that have been owned by the Holder for at least six (6) months
and having a Fair Market Value equal to such Option price, or such other forms or methods as the Committee may determine from time to
time, in each case, subject to such rules and regulations as may be adopted by the Committee. Each Option Agreement shall, solely to the
extent inconsistent with the provisions of Sections 6.2, 6.3, and 6.4, as applicable, specify the effect of Termination of Service on
the exercisability of the Option. Moreover, without limiting the generality of the foregoing, a Non-qualified Stock Option Agreement may
provide for a “cashless exercise” of the Option, in whole or in part, by (a) establishing procedures whereby the Holder, by
a properly-executed written notice, directs (i) an immediate market sale or margin loan as to all or a part of Shares to which he is entitled
to receive upon exercise of the Option, pursuant to an extension of credit by the Company to the Holder of the Option price, (ii) the
delivery of the