Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 44

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 44
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 non-employee directors will be granted Awards under the Amended
2023 Plan. The Committee members must qualify as “non-employee directors” under Rule 16b-3 of the Exchange Act.

Subject to the terms of the Amended 2023 Plan, the
Committee has all discretion and authority to administer the Amended 2023 Plan and to control its operation, in accordance with the Amended
2023 Plan’s provisions, including, but not limited to, the power to (a) determine which employees, consultants, and non-employee
directors will be granted Awards, (b) prescribe the terms and conditions of the Awards (which need not be the same), (c) interpret
the Amended 2023 Plan and the Awards, (d) adopt such procedures and/or subplans deemed necessary or appropriate for the purpose of
satisfying applicable international laws or for qualifying for favorable tax treatment under applicable international laws, (e) to
institute and determine the terms and conditions of an award exchange program; provided, however, that the Committee shall not implement
an award exchange program without the approval of the majority of the Company’s stockholders entitled to vote at any annual or special
meeting of the Company’s stockholders, and (f) make whatever rules it considers appropriate for the administration and interpretation
of the Amended 2023 Plan.

The Committee may delegate any of its authority
and powers under the Amended 2023 Plan to one or more officers of the Company. However, the Committee may not delegate its authority and
powers with respect to any Awards that are granted to the Company’s executive officers or directors who are subject to Section 16(b) of
the Securities Exchange Act. All interpretations, determinations and decisions made by the Committee, the board of directors, and
any delegate of the Committee will be final and binding on all persons and will be given the maximum possible deference permitted by law.

Limitation on Awards and Shares Available.The
maximum number of shares originally available for issuance under the current 2023 Plan was 5,000,000 shares. If this Proposal 3 is
approved by our stockholders, the Amended 2023 Plan will provide for the issuance of up to 2,700,000 additional shares (to a total of
7,700,000 shares, of which awards with respect to 2,449,452 shares have previously been granted under the 2023 Plan) plus the shares added
to the