Company: BLNE
Filing Date: 2025-02-14
Form Type: 8-K
Source: 0001493152-25-006847
Chunk: 4

Company: Beeline Holdings, Inc.
Filing Date: 2025-02-14
Form: 8-K
Item: Item 5.02
Chunk 4
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 those listed above may also be made as determined
by the plan administrator. In addition, the plan administrator may, subject in all events to the requirements of Section 409A of the
Internal Revenue Code, may terminate all outstanding awards for the payment of cash or in-kind consideration having an aggregate fair
market value equal to the excess of the fair market value of the common shares, cash or other property covered by such awards over the
aggregate exercise price, if any, of such awards, but if the exercise price of any outstanding award is equal to or greater than the
fair market value of the common shares, cash or other property covered by such award, the plan administrator may cancel the award without
the payment of any consideration to the participant. With respect to awards subject to foreign laws, adjustments will be made in compliance
with applicable requirements. Except to the extent determined by the plan administrator, adjustments to ISOs will be made only to the
extent not constituting a “modification” within the meaning of Section 424(h)(3) of the Code.

Change
in Control. The 2025 Plan provides that, unless otherwise determined by the plan administrator and evidenced in an award agreement, if
a “change in control” (as defined below) occurs and a participant is employed by us or any of our affiliates immediately
prior to the consummation of the change in control, then the plan administrator, in its sole and absolute discretion, may (i) provide
that any unvested or unexercisable portion of an award carrying a right to exercise will become fully vested and exercisable; and (ii)
cause the restrictions, deferral limitations, payment conditions and forfeiture conditions applicable to any award granted under the
2025 Plan to lapse, and the awards will be deemed fully vested and any performance conditions imposed with respect to such awards will
be deemed to be fully achieved at target performance levels. The administrator shall have discretion in connection with such change in
control to provide that all outstanding and unexercised options and SARs shall expire upon the consummation of such change in control.

   4  

For
purposes of the 2025 Plan, a “change in control” means,

(i)
a tender offer (or series of related offers) shall be made and consummated for the ownership of 50% or more of the outstanding voting
securities of the Company, unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving