Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 67

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 67
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 any participant whose rights under a previously granted incentive award are adversely affected by such amendment or modification has consented to the amendment or modification.

The committee, in its sole discretion, may amend the terms of the 2025 Plan or incentive awards with respect to participants resident outside of the U.S. or employed by a non-U.S. subsidiary in order to comply with local legal requirements, to otherwise protect our or subsidiary’s interests, or to meet objectives of the 2025 Plan, and may, where appropriate, establish one or more sub-plans for the purposes of qualifying for preferred tax treatment under foreign tax laws. This authority does not, however, permit the committee to take any action:

| ● | to reserve shares or grant incentive awards in excess of the limitations provided in the 2025 Plan; |

| ● | to effect any re-pricing of options, as discussed below; |

| ● | to grant options or stock appreciation rights having an exercise price less than 100 percent of the “fair market value” (as defined below) of one share of our common stock on the date of grant; or |

| ● | for which stockholder approval would then be required pursuant to Section 422 of the Code or the Listing Rules of Nasdaq (or other applicable exchange or market on which our common stock may be traded or quoted). |

Except in connection with certain specified changes in our corporate structure or shares, the committee may not, without prior approval of our stockholders, seek to effect any re-pricing of any previously granted, “underwater” option or stock appreciation right by:

| ● | amending or modifying the terms of the underwater option or stock appreciation right to lower the exercise price; |

| ● | canceling the underwater option or stock appreciation right in exchange for cash, replacement options or stock appreciation rights having a lower exercise price or other incentive awards; or |

| ● | repurchasing the underwater options and stock appreciation rights and granting new incentive awards under the 2025 Plan. |

For purposes of the 2025 Plan, an option or stock appreciation right is deemed to be “underwater” at any time when the fair market value of our common stock is less than the exercise price.

Types of Awards. Stock options (including both incentive stock options and non-statutory stock options), stock appreciation rights, RSUs, performance awards or units, stock bonuses and other stock-based awards may be granted under the 2025 Plan. Incentive awards may be granted either alone or in addition to or in