Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 200

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 200
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 and prospective
employees) upon whose judgment, initiative and efforts we largely depend for the successful conduct of our business to acquire a proprietary
interest in our company.

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Eligibility.Participants
in our 2024 Plan may include full or part-time officers, employees, directors and key persons (including advisors and consultants) of
our company who are selected to receive awards from time to time by the administrator in its sole discretion.

Administration.Our
2024 Plan is administered by our compensation committee, or, if at any time our compensation committee is not in existence, our board
of directors. In addition, to the extent applicable law permits, our board of directors may delegate any of its authority under our 2024
Plan to another committee or one or more officers, and our compensation committee may delegate any of its authority hereunder to one or
more officers, except that no such delegation is permitted with respect to awards made to individuals who are subject to Section 16
of the Exchange Act unless the delegation is to another committee consisting entirely of “nonemployee directors” within
the meaning of Rule 16b-3 of the Exchange Act. Subject to the provisions of our 2024 Plan, the administrator has the power to
administer the plan, including but not limited to, the power to select the eligible officers, employees, directors, and key employees
to whom awards are granted; to determine the number of shares to be covered by each award; to determine the terms and conditions of any
award and to amend any outstanding award.

Authorized Shares.2,500,000
shares of our common stock were authorized for issuance under our 2024 Plan. All authorized shares may be issued as described below under
Types of Awards. The shares available for issuance may be authorized but unissued shares or shares reacquired by us and held in
its treasury. The share reserve under our 2024 Plan is depleted by the maximum number of shares, if any, that may be issuable under an
award as determined at the time of grant. However, awards that may only be settled in cash (determined at the time of grant) do not deplete
the share reserve.

If (i) an award lapses, expires, terminates
or is cancelled without the issuance of shares, (ii) it is determined during or at the conclusion of the term of an award that all
or some portion of the shares with respect to which the award was granted will not be