Company: GURE
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193805-25-001103
Chunk: 74

Company: GULF RESOURCES, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 74
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the Holder, subject to compliance with applicable laws. An Award may be exercisable during the lifetime of the Holder only by such Holder
or by the Holder’s guardian or legal representative unless it has been transferred by gift to a Family Member of the Holder, in
which case it shall be exercisable solely by such transferee. Notwithstanding any such transfer, the Holder shall continue to be subject
to the withholding requirements provided for under Section 17.3 hereof.

Gulf Resources, Inc. 2025 Stock Incentive Plan

17.6y Designations. Each Holder may, from time to time, name a beneficiary or beneficiaries (who may be contingent
or successive beneficiaries) for purposes of receiving any amount which is payable in connection with an Award under the Plan upon or
subsequent to the Holder’s death. Each such beneficiary designation shall serve to revoke all prior beneficiary designations, be
in a form prescribed by the Company and be effective solely when filed by the Holder in writing with the Company during the Holder’s
lifetime. In the absence of any such written beneficiary designation, for purposes of the Plan, a Holder’s beneficiary shall be
the Holder’s estate.

17.7. It is intended that the Plan and any Award made to a person subject to Section 16 of the Exchange Act shall
meet all of the requirements of Rule 16b-3. If any provision of the Plan or of any such Award would disqualify the Plan or such Award
under, or would otherwise not comply with the requirements of, Rule 16b-3, such provision or Award shall be construed or deemed to have
been amended as necessary to conform to the requirements of Rule 16b-3.

17.8y. Notwithstanding any contained herein or in any incentive “performance based” Awards under the
Plan shall be subject to reduction, forfeiture or repayment by reason of a correction or restatement of the Company’s financial
information if and to the extent such reduction or repayment is required by any applicable law.

17.9. Notwithstanding any other provision of the Plan, the Committee shall have no authority to issue an Award under
the Plan with terms and/or conditions which would cause such Award to constitute non-qualified “deferred compensation” under
Section 409A of the Code unless such Award shall be structured to be exempt from or comply with all requirements of Code Section 409A.
The Plan and all Award Agreements are intended to comply with the requirements of Section 409A of