Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 539

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7A
Chunk 539
---
2 with a term of three years. Mr.
Miao is also a member of the Board of Directors. Pursuant to the agreement, Mr. Miao shall receive annual cash compensation equal to approximately
$18,500 subject to changes in the foreign exchange rate and market conditions, and be compensated in the Company’s shares under
the Company’s equity incentive plan.

56 

In addition, each of our named
executive officers is entitled to participate in any and all benefit plans from time to time, in effect for employees, along with vacation,
sick and holiday pay in accordance with policies established and in effect from time to time.

Potential payments upon termination
or change-in-control

Assuming the employment of the
Company’s named executive officers was to be terminated without cause or for good reason or in the event of change in control, as
of December 31, 2024, the following individuals would have been entitled to payments in the amounts set forth opposite to their name in
the below table:

    Name 
    Cash Payment
  
    Xiaboin Liu 
    $0 
  
    Min Li 
    $0 
  
    Naihui Miao 
    $0 

Recovery of Erroneously Awarded Compensation

 None.

Outstanding Equity Awards at Fiscal Year-End

The following table sets forth,
for each named executive officer, information regarding unexercised stock options, unvested stock awards, and equity incentive plan awards
outstanding as of December 31, 2024.

Policies and Practices for
Granting Certain Equity Awards

Our policies and practices regarding
the granting of equity awards are carefully designed to ensure compliance with applicable securities laws and to maintain the integrity
of our executive compensation program. The Compensation Committee is responsible for the timing and terms of equity awards to executives
and other eligible employees.

The timing of equity award grants
is determined with consideration to a variety of factors, including but not limited to, the achievement of pre-established performance
targets, market conditions and internal milestones. The Company does not follow a predetermined schedule for the granting of equity awards;
instead, each grant is considered on a case-by-case basis to align with the Company’s strategic objectives and to ensure the competitiveness
of our compensation packages.

In determining the timing and
terms of an equity award, the Board or the Compensation Committee may consider material nonpublic information to ensure that such grants
are made in compliance with applicable laws and regulations. The Board’s or the Compensation Committee’s