Company: GURE
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193805-25-001103
Chunk: 58

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 58
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 shall not be
treated as if his or her Consultant status had terminated until such time as his or her employment with the Company or an Affiliate, or
his or her Director status, as applicable, shall terminate, in which case his or her Award shall be treated pursuant to the provisions
of Section 6.2.

6.4. Notwithstanding anything in this Article VI or elsewhere in the Plan to the contrary,
and unless a Holder’s Award Agreement specifically provides otherwise, in the event of a Holder’s Termination of Service for
Cause, all of such Holder’s then outstanding Awards shall expire immediately and be forfeited in their entirety upon such Termination
of Service.

Gulf Resources, Inc. 2025 Stock Incentive Plan

<div align='center'>ARTICLE VII

OPTIONS</div>

7.1. The term of each Option shall be as specified in the Option Agreement; provided, , that except
as set forth in Section 7.3, no Option shall be exercisable after the expiration of ten (10) years from the date of its grant.

7.2. An Option shall be exercisable in whole or in such installments and at such times as
specified in the Option Agreement.

7.3. To the extent that the aggregate Fair Market Value (determined at the time
the respective Incentive Stock Option is granted) of Shares with respect to which Incentive Stock Options are exercisable for the first
time by an individual during any calendar year under all plans of the Company and any parent corporation or subsidiary corporation thereof
(both as defined in Section 424 of the Code) which provide for the grant of Incentive Stock Options exceeds One Hundred Thousand Dollars
($100,000) (or such other individual limit as may be in effect under the Code on the date of grant), the portion of such Incentive Stock
Options that exceeds such threshold shall be treated as Non-qualified Stock Options. The Committee shall determine, in accordance with
applicable provisions of the Code, Treasury Regulations and other administrative pronouncements, which of a Holder’s Options, which
were intended by the Committee to be Incentive Stock Options when granted to the Holder, will not constitute Incentive Stock Options because
of such limitation, and shall notify the Holder of such determination as soon as practicable after such determination. No Incentive Stock
Option shall be granted to an Employee if, at the time the Incentive Stock Option is granted, such Employee is