Company: GURE
Filing Date: 2025-07-16
Form Type: PRE 14A
Source: 0001193805-25-001026
Chunk: 64

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-16
Form: PRE 14A
Chunk 64
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 entitled to distribution pursuant to Section 10.3 and the number of Units
awarded to the Holder. Such conditions shall be sufficient to constitute a “substantial risk of forfeiture” as such term is
defined under Section 409A of the Code. At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms
and conditions or restrictions relating to Restricted Stock Unit Awards in the Restricted Stock Unit Agreement, including, but not limited
to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable vesting period. The terms and conditions
of the respective Restricted Stock Unit Agreements need not be identical.

10.3. The Holder of a Restricted Stock Unit shall be entitled to receive a cash payment equal to the
Fair Market Value of a Share, or one Share, as determined in the sole discretion of the Committee and as set forth in the Restricted Stock
Unit Agreement, for each Restricted Stock Unit subject to such Restricted Stock Unit Award, if the Holder satisfies the applicable vesting
requirement. Such distribution shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month next following
the end of the calendar year in which the Restricted Stock Unit first becomes vested (i.e., no longer subject to a “substantial
risk of forfeiture”).

<div align='center'>ARTICLE XI

PERFORMANCE UNIT AWARDS</div>

11.1. A Performance Unit Award shall constitute an Award under which, upon the satisfaction of predetermined individual
and/or Company (and/or Affiliate) Performance Goals based on selected Performance Criteria, a cash payment shall be made to the Holder,
based on the number of Units awarded to the Holder. At the time a Performance Unit Award is made, the Committee shall establish the Performance
Period and applicable Performance Goals. Each Performance Unit Award may have different Performance Goals, in the discretion of the Committee.
A Performance Unit Award shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends
or any other rights associated with ownership of Shares.

Gulf Resources, Inc. 2025 Stock Incentive Plan

11.2. At the time any Award is made under this Article XI, the Company and the Holder shall enter into a
Performance Unit Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Committee shall set forth in the applicable Performance Unit Agreement the Performance Period, Performance Criteria