Company: XXII
Filing Date: 2025-06-10
Form Type: PRER14A
Source: 0001641172-25-014371
Chunk: 42

Company: 22nd Century Group, Inc.
Filing Date: 2025-06-10
Form: PRER14A
Chunk 42
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 which specified payments will be paid (or specified vesting will occur), and a maximum level of performance above which no additional payment will be made (or at which full vesting will occur). In addition, the Administrator may establish other performance goals and provide for other exclusions or adjustments not listed in the Plan.

Effect of Termination of Employment or Service on Awards

The Administrator will have the discretion to determine, at the time an award is made to a participant or any time thereafter, the effect of the participant’s termination of employment or service with us or our affiliates on the award.

Transferability of Awards

Awards under the Plan generally will be nontransferable except (a) as otherwise determined by the Compensation Committee; (b) by will or the laws of descent and distribution; and (c) to the spouse, children, or grandchildren of a participant, or to trusts or partnerships for their benefit, under certain circumstances.

Adjustments

Under the terms of the Plan, if any of the following occurs:

| ● | We                                                                                                
 are involved in a merger or other transaction in which our common stock is changed or exchanged;  |
| ● | We                                                                                                
 subdivide or combine our common stock or declare a dividend payable in our common stock,          
 other securities or other property;                                                               |
| ● | We                                                                                                
 effect a cash dividend, the amount of which, on a per share basis, exceeds 10% of the fair        
 market value of a share of our common stock at the time the dividend is declared, or we effect    
 any other dividend or other distribution on our common stock in the form of cash, or a repurchase 
 of shares of our common stock, that our Board of Directors determines is special or extraordinary 
 in nature or that is in connection with a transaction that we characterize publicly as a          
 recapitalization or reorganization involving our common stock; or                                 |
| ● | Any                                                                                               
 other event occurs, which, in the judgment of our Board of Directors or Compensation Committee    
 necessitates an adjustment to prevent an increase or decrease in the benefits or potential        
 benefits intended to be made available under the Plan;                                            |

| 28 |

then the Administrator will, in a manner it deems equitable to prevent an increase or decrease in the benefits or potential benefits intended to be made available under the Plan and subject to certain provisions of the Code, adjust the number and type of shares of our common stock subject to the Plan and which may, after the event, be made the subject of awards; the number