Company: GURE
Filing Date: 2025-07-16
Form Type: PRE 14A
Source: 0001193805-25-001026
Chunk: 53

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-16
Form: PRE 14A
Chunk 53
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 a Holder’s employment with, or status as a Director
or Consultant of, the Company or an Affiliate, as applicable, for any reason, including, without limitation, Total and Permanent Disability
or death, except as provided in Section 6.4. In the event Termination of Service shall constitute a payment event with respect to any
Award subject to Code Section 409A, Termination of Service shall only be deemed to occur upon a “separation from service”
as such term is defined under Code Section 409A and applicable authorities.

Gulf Resources, Inc. 2025 Stock Incentive Plan

2.48“y” of an individual shall mean the inability of such individual to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has
lasted or can be expected to last for a continuous period of not less than twelve (12) months, within the meaning of Section 22(e)(3)
of the Code.

2.49“” shall mean a bookkeeping unit, which represents such monetary amount as shall be designated by the Committee
in each Performance Unit Agreement, or represents one Share for purposes of each Restricted Stock Unit Award.

2.50“” shall mean an Award granted under Article IX of the Plan of Shares which are not subject to Restrictions.

2.51“g” shall mean a written agreement between the Company and a Holder with respect
to an Unrestricted Stock Award.

<div align='center'>ARTICLE III

EFFECTIVE DATE OF PLAN</div>

The Plan shall be effective as of the
Effective Date, provided that the Plan is approved by the stockholders of the Company within twelve (12) months of such date.

<div align='center'>ARTICLE IV

ADMINISTRATION</div>

4.1. The Plan shall be administered by the Committee, which shall be appointed by the Board. If necessary,
in the Board’s discretion, to comply with Rule 16b-3 under the Exchange Act or relevant securities exchange or inter-dealer quotation
service, the Committee shall consist solely of two (2) or more Directors who are each (i) “non-employee directors” within
the meaning of Rule 16b-3 and (ii) “independent” for purposes of any applicable listing requirements. If a member of the Committee
shall be eligible to receive an Award under the Plan, such Committee member shall have no authority hereunder with respect to his