Company: GURE
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193805-25-001103
Chunk: 52

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 52
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 shall refer to an Award granted under Article X
of the Plan under which, upon the satisfaction of predetermined individual service-related vesting requirements, a cash payment shall
be made to the Holder, based on the number of Units awarded to the Holder.

Gulf Resources, Inc. 2025 Stock Incentive Plan

2.38“g” shall mean a written agreement between the Company and a Holder with
respect to a Restricted Stock Award.

2.39“” shall mean the period of time for which Shares subject to a Restricted Stock Award shall
be subject to Restrictions, as set forth in the applicable Restricted Stock Agreement.

2.40“” shall mean the forfeiture, transfer and/or other restrictions applicable to Shares awarded to
an Employee, Director or Consultant under the Plan pursuant to a Restricted Stock Award and set forth in a Restricted Stock Agreement.

2.41“” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange
Act, as such may be amended from time to time, and any successor rule, regulation or statute fulfilling the same or a substantially similar
function.

2.42
“” or “” shall mean the common stock of the Company, par value $0.0005 per share.

2.43“” or “” shall mean an Award granted under Article XIV of the
Plan of a right, granted alone or in connection with a related Option, to receive a payment equal to the increase in value of a specified
number of Shares between the date of Award and the date of exercise.

2.44“” shall mean a written agreement between the Company and a Holder with respect
to a Stock Appreciation Right.

2.45“” shall mean a Stock Appreciation Right granted in connection with a related
Option, the exercise of some or all of which results in termination of the entitlement to purchase some or all of the Shares under the
related Option, all as set forth in Article XIV.

2.46“” shall mean an Employee who, at the time an Option is granted to him or her, owns shares
possessing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company or of any parent corporation
or subsidiary corporation thereof (both as defined in Section 424 of the Code), within the meaning of Section 422(b)

(6) of the Code.

2.47“” shall mean a termination of a Holder’s employment with, or status as a Director