Company: ANIX
Filing Date: 2025-02-06
Form Type: DEF 14A
Source: 0001493152-25-005199
Chunk: 33

Company: Anixa Biosciences Inc
Filing Date: 2025-02-06
Form: DEF 14A
Chunk 33
---
 Kumar

The time-based and performance-based options granted Dr. Kumar pursuant to our 2010 Share Incentive Plan and our 2018 Share Incentive Plan (collectively the “Share Plans”) provide for the vesting of the unvested portion of his options to be accelerated and such accelerated options to become immediately exercisable upon a change in control as defined below. The intrinsic value of the options that would be accelerated would be $42,317, which was calculated based on the excess of our closing share price on October 31, 2024 and each option’s exercise price, multiplied by the number of options that would be accelerated for each grant.

Michael J. Catelani

The time-based and performance-based options granted Mr. Catelani pursuant to our Share Plans provide for the vesting of the unvested portion of his options to be accelerated and such accelerated options to become immediately exercisable upon a change in control as defined below. The intrinsic value of the options that would be accelerated would be $54,560, which was calculated based on the excess of our closing share price on October 31, 2024 and each option’s exercise price, multiplied by the number of options that would be accelerated for each grant.

| 20 |

Change in Control

Under our 2010 Share Incentive Plan and our 2018 Share Incentive Plan, “change in control” means:

| ● | Change in Ownership: A                                                                                                                   
 change in ownership of the Company occurs on the date that any one person, or more than one person acting as a group, acquires ownership 
 of stock of the Company that, together with stock held by such person or group, constitutes more than 50% of the total fair market       
 value or total voting power of the stock of the Company, excluding the acquisition of additional stock by a person or more than one      
 person acting as a group who is considered to own more than 50% of the total fair market value or total voting power of the stock        
 of the Company.                                                                                                                          |
| ● | Change in Effective Control:                                                                                                             
 A change in effective control of the Company occurs on the date that either:                                                             |

| ○ | any one person, or more                                                                                                                   
 than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition 
 by such person or persons) ownership of stock of the Company possessing 30% or more of the total