Company: BKYI
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001437749-25-021438
Chunk: 64

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 64
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 to have elected to withdraw from the amended ESPP upon the termination of the participant’s employment for any reason or in the event the participant is no longer eligible to participate in the amended ESPP.

Restriction on Transfers

A participant may not transfer rights granted under the amended ESPP other than by will, the laws of descent and distribution or as otherwise provided under the amended ESPP.

Adjustments

In the event of certain changes in our capitalization, to prevent dilution or enlargement of the benefits or potential benefits available under the amended ESPP, the Committee will make adjustments, as it may deem equitable, to the number and class of shares that may be delivered, the applicable purchase price for shares, and/or the numerical share limits, pursuant to the amended ESPP.

Dissolution or Liquidation

In the event that the Company merges with or into another corporation or is acquired or sells all or substantially all of its assets, each outstanding option under the amended ESPP will be assumed, or an equivalent option shall be substituted by the successor corporation or its parent or subsidiary. In the event the successor corporation or its parent or subsidiary refuses to assume or substitute for the option, or in the event of the proposed dissolution or liquidation of the Company, the Offering Period (as defined in the amended ESPP) then in progress will be shortened to end on an Exercise Date (as defined in the amended ESPP) that is no later than the date immediately prior to the effective date of such merger, sale, dissolution, or liquidation, as applicable. You will be notified at least ten (10) business days prior to the new Exercise Date of the Offering Period, and you will continue to have the right to withdraw from such Offering Period at any time prior to such new Exercise Date.

Amendment and Termination of the Amended ESPP, Duration of the Amended ESPP

The board may terminate or amend the amended ESPP at any time and for any reason. No termination or amendment may make any change in any option theretofore granted which adversely affects the right of any participant without the consent of such participant except as expressly set forth in the amended ESPP, provided that an Offering Period may be terminated by the board if it determines that the termination of the Offering Period or the amended ESPP is in the best interests of the Company and its stockholders.

Summary of Material U.S. Federal Income Tax Considerations

The following summary is intended only as a general guide to the material U.S. federal income tax consequences of participation