# EDGAR Filing Document

**Accession Number:** 0001874252
**File Stem:** 0001213900-26-018474
**Filing Date:** 2026-2
**Character Count:** 165205
**Document Hash:** ac724c8695dd0d39a7aa3d00f5e50233
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-018474.hdr.sgml**: 20260219

**ACCESSION NUMBER**: 0001213900-26-018474

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20260219

**DATE AS OF CHANGE**: 20260219

**EFFECTIVENESS DATE**: 20260219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAINZ BIOMED N.V.
- **CENTRAL INDEX KEY:** 0001874252
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** P7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293603
- **FILM NUMBER:** 26655461

**BUSINESS ADDRESS:**
- **STREET 1:** ROBERT KOCH STRASSE 50
- **CITY:** MAINZ
- **STATE:** 2M
- **ZIP:** 55129
- **BUSINESS PHONE:** 49 6131 5542860

**MAIL ADDRESS:**
- **STREET 1:** ROBERT KOCH STRASSE 50
- **CITY:** MAINZ
- **STATE:** 2M
- **ZIP:** 55129

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mainz Biomed B.V.
- **DATE OF NAME CHANGE:** 20210721

**As filed with the Securities and Exchange Commission on February 19, 2026**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER THE SECURITIES ACT OF 1933**

**MAINZ BIOMED N.V.**

(Exact name of registrant as specified in its charter)

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| | |
|:---|:---|
| **The Netherlands** | **N/A** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification Number) |

---

**Mainz Biomed N.V.<br> Robert Koch Strasse 50<br> 55129 Mainz<br> Germany<br> Telephone: +49 6131 5542860**

(Address of principal executive offices, including zip code, and telephone number, including area code)

**Vcorp Services, LLC<br> 25 Robert Pitt Drive, Suite 204<br> Monsey, NY 10952<br> Telephone:**

(Name, address, including zip code, and telephone number, including area code, of agent of service)

***Copy to:***

**William Rosenstadt, Esq.<br> Mengyi "Jason" Ye, Esq.<br> Tim Dockery, Esq.<br> Ortoli Rosenstadt LLP<br> 366 Madison Avenue<br> New York, New York 10022<br> Telephone: (212) 588-0022**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**Explanatory Note**

This Registration Statement on Form S-8 (this "Registration Statement") is being filed by Mainz Biomed N.V., a Dutch public company with limited liability (*naamloze vennootschap*) (the "Company"), in connection with the registration of 1,467,021 ordinary shares of the Company's, nominal value of EUR 0.01 per share (the "Ordinary Shares"), which represent the maximum number of Ordinary Shares underlying awards that are currently authorized under the Company's 2025 Omnibus Incentive Plan (the "2025 Plan").

This Registration Statement includes a reoffer prospectus prepared in accordance with General Instruction C of Form S-8 and in accordance with the requirements of Part I of Form S-3 under the Securities Act of 1933, as amended (the "Securities Act'). The reoffer prospectus may be used for the reoffer and resale of Ordinary Shares on a continuous or delayed basis that may be deemed to be "restricted securities" and/or "control securities" within the meaning of the Securities Act, and the rules and regulations promulgated thereunder, that were issued to certain of our executive officers, employees, consultants and directors identified in the reoffer prospectus. The number of Ordinary Shares included in the reoffer prospectus represents Ordinary Shares issued to the selling shareholders pursuant to restricted stock awards that have been granted (all of which have vested) and does not necessarily represent a present intention to sell any or all such Ordinary Shares.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

In accordance with the instructional Note to Part I of Form S-8 as promulgated by the U.S. Securities and Exchange Commission (the "Commission"), the information specified by Part I of Form S-8 has been omitted from this Registration Statement on Form S-8 for offers of Ordinary Shares pursuant to the 2025 Plan. The documents containing this information will be sent or given to eligible participants as specified in Rule 428(b)(1) of the Securities Act. Such documents are not being filed by the Company with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II hereof, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**REOFFER PROSPECTUS**

**1,000,000 ORDINARY SHARES** 

**MAINZ BIOMED N.V.**

This prospectus relates to the reoffer and resale from time to time of up to 1,000,000 ordinary shares, nominal value of EUR 0.01 per share (the "Ordinary Shares"), of Mainz Biomed N.V., a Dutch public company with limited liability (*naamloze vennootschap*) (the "Company") by certain selling shareholders named herein.

The selling shareholders may offer and sell the shares described in this prospectus in a number of different ways and at varying prices. The selling shareholders may sell any, all or none of such shares, and we do not know when or in what amount the selling shareholders may sell such shares. The inclusion of such shares in this prospectus does not necessarily represent a present intention by the selling shareholders to sell any or all such shares.

Our Ordinary Shares are traded on Nasdaq Capital Market under the ticker symbol "MYNZ". On February 18, 2026, the closing price for our Ordinary Shares as reported by Nasdaq Capital Market was $0.624.

**We may amend or supplement this reoffer prospectus from time to time by filing amendments or supplements as required. You should read the entire prospectus, the information incorporated by reference herein and any amendments or supplements carefully before you make your investment decision.**

**Investing in our securities involves a high degree of risk. See the section titled "Risk Factors" beginning on page 4 of this prospectus and in any similar section included in the documents incorporated by reference in this prospectus to read about factors you should consider before investing in our securities.**

The U.S. Securities and Exchange Commission (the "Commission") may take the view that, under certain circumstances, the selling shareholders and any broker-dealers or agents that participate with the selling shareholders in the distribution of the shares may be deemed to be "underwriters" within the meaning of the Securities Act. Commissions, discounts or concessions received by any such broker-dealer or agent may be deemed to be underwriting commissions under the Securities Act. See the section titled "Plan of Distribution."

**Neither the Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

**Unless otherwise mentioned or unless the context requires otherwise, all references in this reoffer prospectus to the "Company," "we," "us," "our," or similar terms refer to Mainz Biomed N.V. and its subsidiaries taken as a whole, except where the context otherwise requires or as otherwise indicated.**

The date of this prospectus is February 19, 2026.

**TABLE OF CONTENTS**

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| | |
|:---|:---|
|  | **Page** |
| [Prospectus Summary](#a_001) | 1 |
| [Risk Factors](#a_002) | 4 |
| [Cautionary Note Regarding Forward-Looking Statements](#a_003) | 5 |
| [Selling Shareholders](#a_004) | 6 |
| [Plan of Distribution](#a_005) | 7 |
| [Legal Matters](#a_006) | 8 |
| [Experts](#a_007) | 8 |
| [Where You Can Find Additional Information](#a_008) | 9 |
| [Incorporation by Reference](#a_009) | 9 |

---

We have not authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses that we have prepared. We do not take any responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. The selling shareholders may offer to sell, and seek offers to buy, our Ordinary Shares only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is current only as of the date on the front cover of this prospectus, regardless of the time of delivery of this prospectus or any sale of the Ordinary Shares. Our business, financial condition, results of operations and prospects may have changed since the date on the front cover of this prospectus.

i

**PROSPECTUS SUMMARY**

*The following summary highlights certain information in this prospectus and should be read together with the more detailed information and financial data and statements contained elsewhere in this prospectus. This summary does not contain all of the information that may be important to you. You should read and carefully consider the following summary together with the entire prospectus, especially the "Risk Factors" section of this prospectus and our financial statements and the notes thereto and the other information incorporated by reference into this prospectus before deciding to invest in our Ordinary Shares. Some of the statements in this prospectus constitute forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those discussed in the "Risk Factors" and other sections of this prospectus. See "Cautionary Note Regarding Forward-Looking Statements".*

We have registered our ordinary shares under the Exchange Act, and we make, and we intend to continue to make, our current and periodic reports and other information (including interactive data files) filed with or furnished to the SEC, pursuant to Section 13(a) or 15(d) of the Exchange Act, available free of charge through our website as soon as reasonably practicable after those reports and other information are electronically filed with, or furnished to, the SEC. The SEC maintains a website at *http://www.sec.gov* that contains reports and other information regarding issuers that file electronically with the SEC, and all of our reports and other information filed or submitted publicly with the SEC may also be found there.

Information on our website or any other website is not incorporated by reference into this annual report and does not constitute a part of this annual report. We have included our website address as an inactive textual reference only.

**General**

We develop and sell in-vitro diagnostic ("IVD") tests for the early detection of cancer. Our flagship ColoAlert product is being marketed and sold in European markets. We are currently developing our next generation colorectal cancer screening product and intend to launch that product in the future in the United States and in Europe. We distribute our IVD kits to third-party laboratories in Europe and during 2023 and a portion of 2024 through our on-line store in Germany.

In addition, we conduct research and development to increase and diversify our product portfolio. Currently, we are managing our government funded research and development project called PancAlert, which provide us non-refundable grant income that covers a percentage of the individual project-related costs. In March 2025, we acquired a license from Liquid Bioscience, Inc. to access a portfolio of novel mRNA biomarkers for the non-invasive detection of pancreatic cancer with a blood test. We have an exclusive license to develop such a test using these biomarkers with the unilateral option to acquire them.

Our mission is to enhance disease diagnosis by applying cutting-edge genetic diagnostic technologies, enabling earlier and more accurate detection for timely and improved treatment. Alongside our current ColoAlert colorectal cancer ("CRC") screening test, we are developing an advanced mRNA-based CRC screening test, as well as PancAlert, a product candidate for pancreatic cancer detection. Our approach integrates proprietary, validated biomarkers with reliable diagnostic tools, further strengthened by machine learning and artificial intelligence to optimize accuracy and applicability. We strive to make the diagnosis of various diseases more effective by using the latest genetic diagnostic technologies. Enabling earlier detection of these diseases allows for earlier and better therapy for affected individuals. In addition to offering the CRC screening test, ColoAlert, we are currently developing our product candidate PancAlert for the detection of pancreatic cancer. We aim to use proprietary, known and existing biomarkers in applicable and reliable diagnostic tools.

**Corporate Information**

We are a public company under Dutch law. We were incorporated on March 8, 2021 as a private limited liability company (*besloten vennootschap met beperkte aansprakelijkheid*) under Dutch law. We were formed to acquire PharmGenomics GmbH ("PharmGenomics"), a German company with limited liability, and we acquired PharmGenomics on September 20, 2021. On November 9, 2021, we converted into a Dutch public company with limited liability (*naamloze vennootschap*).

We are headquartered in Mainz, Germany where we have approximately 21 full-time and 4 part-time employees. The address for our principal place of business is Robert Koch Strasse 50, 55129 Mainz, Germany, and the telephone number is +49 6131 5542860. Pharmgenomics GmbH changed its name subsequent to the acquisition to Mainz Biomed Germany GmbH.

**Summary of Risk Factors**

Investing in our securities entails a high degree of risk as more fully described under "Risk Factors," and the risk factors contained in the other documents that are filed after the date hereof and incorporated by reference in this reoffer prospectus or contained in any applicable supplement. You should carefully consider such risks before deciding to invest in our securities.

**Emerging Growth Company**

We qualify as an Emerging Growth Company ("EGC"), as defined in the JOBS Act. As an EGC, we may take advantage of specified reduced disclosure and other requirements that are otherwise applicable generally to public companies, including reduced disclosure about our executive compensation arrangements, exemption from the requirements to hold non-binding advisory votes on executive compensation and golden parachute payments and exemption from the auditor attestation requirement in the assessment of our internal control over financial reporting.

We may take advantage of these exemptions until December 31, 2026 or such earlier time that we are no longer an emerging growth company. We would cease to be an EGC earlier if we have more than $1.235 billion in annual revenue, we have more than $700.0 million in market value of our stock held by non-affiliates (and we have been a public company for at least 12 months and have filed one annual report on Form 20-F) or we issue more than $1.0 billion of non-convertible debt securities over a three-year period. For so long as we remain an EGC, we are permitted, and intend, to rely on exemptions from certain disclosure requirements that are applicable to other public companies that are not EGCs. We may choose to take advantage of some, but not all, of the available exemptions.

**Offering Summary**

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| | |
|:---|:---|
| **Outstanding Ordinary Shares:** | 12,515,336 of our Ordinary Shares are outstanding as of February 18, 2025. |
| **Ordinary Shares Offered:** | Up to 1,000,000 Ordinary Shares for sale by the selling shareholders (which include our executive officers and directors) for their own account pursuant to the 2025 Plan. |
| **Selling Securityholders:** | The selling shareholders are set forth in the section entitled "Selling Shareholders" of this reoffer prospectus on page 6. |
| **Use of proceeds:** | We will not receive any proceeds from the sale of our Ordinary Shares by the selling shareholders. |
| **Risk Factors:** | The securities offered hereby involve a high degree of risk. See "Risk Factors." |
| **Nasdaq trading symbol:** | MYNZ |

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**RISK FACTORS**

Investing in our securities is speculative and involves a high degree of risk. You should carefully consider all of the information set forth in this reoffer prospectus, including our financial statements and notes thereto and the other information incorporated by reference into this reoffer prospectus, and the risk factors set forth in the Company's most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2024 and its other filings with the Commission, before you decide to purchase our securities. If any of these risks actually occur, our business, financial conditions, results of operations and prospects could be materially adversely affected, the value of our securities could decline, and you may lose all or part of your investment.

***Sales of a substantial number of our securities in the public market by the selling shareholders and/or by our existing shareholders could cause the price of our Ordinary Shares to fall.***

The selling shareholders can sell, under this prospectus, up to 1,000,000 Ordinary Shares, constituting approximately 8.0% of our outstanding Ordinary Shares, as of February 18, 2026. Depending on the price, the public shareholders may have paid significantly more than the selling shareholders for any Ordinary Shares they may have purchased in the open market based on variable market price. The securities offered in this prospectus may be resold for so long as the registration statement, of which this prospectus forms a part, is available for use. The sale of all or a portion of the securities offered in this prospectus could result in a significant decline in the public trading price of our securities. Despite such a decline in the public trading price, the selling shareholders may still experience a positive rate of return on the securities it purchased due to the price at which the selling shareholders initially purchased the securities.

 ****

***We recently issued preferred shares are committed to issuing additional preferred shares which, subject to shareholder approval, could be converted into a substantial majority of our ordinary shares.***

On February 17, 2026, we entered into we entered into a Securities Purchase Agreement (the "Purchase Agreement") with an investor that (i) provided for the sale in a private placement of three million preferred shares of various classes convertible into an aggregate of up to 27 million Ordinary Shares, subject to shareholder approval, into an aggregate of up to 9 million Ordinary Shares in exchange for $3 million and (ii) provides for the sale, upon the completion of certain conditions, in a private placement of two million preferred shares, of two different classes convertible, subject to shareholder approval, into an aggregate of up to 450 million Ordinary Shares in exchange for an additional $3 million (collectively, the "Investment"). If such shareholder approval is received, the preferred shares sold in the Investment will be convertible into approximately 95.6% of the shares outstanding as of February 18, 2026. Your voting and economic position will be greatly diluted if such approval is obtained, and the fear of such dilution may cause the market price of our Ordinary Shares to decrease significantly.

 ****

***Sales, or the perception of sales, of our Ordinary Shares, including those registered in this registration statement, by us or our existing shareholders in the public market could cause the market price for our Ordinary Shares to decline.***

The sale of substantial amounts of Ordinary Shares in the public market, or the perception that such sales could occur, could harm the prevailing market price of the Ordinary Shares. These sales, or the possibility that these sales may occur, also might make it more difficult for us to sell equity securities in the future at a time and at a price that we deem appropriate.

Upon the effectiveness of this registration statement, shares held by certain of our shareholders, including the selling shareholders, will be eligible for resale without restriction. As restrictions on resale end, the market price of Ordinary Shares could drop significantly if the holders of these securities sell them or are perceived by the market as intending to sell them. These factors could also make it more difficult for us to raise additional funds through future offerings of our Ordinary Shares or other securities.

 ****

 **

***If enacted, a proposed change to the Nasdaq continued listing requirements concerning the market value of listed securities ("MVLS"), could cause us to fail to meet Nasdaq's continued listing requirements resulting in our Ordinary Shares being delisted from the Nasdaq Capital Market.***

 **

The Nasdaq Stock Market LLC has proposed amending the Nasdaq Listing Rules to require companies to maintain a minimum MVLS of $5 million. Specifically, if a company fails to have a MVLS of at least $5 million for 30 consecutive business days, it will be subject to immediate suspension and delisting without a compliance period, which period could be shortened to ten consecutive trading days if the company is then in violation of another Nasdaq continued listing requirement. These rules could take effect as early as April 2026. Based on the number of our common shares outstanding as of February 18, 2026 and the last reported sale price of our common shares on the Nasdaq Capital Market on February 18, 2026, our MVLS is approximately $7.8 million. If our MVLS decreases below $5 million for 30 consecutive days, our Ordinary Shares will be delisted under this proposed rule. However, such delisting would occur after ten consecutive business days if we were in violation of another Nasdaq continued listing violation such as having a closing price for our Ordinary Shares of below $1.00 for 30 consecutive days (as of February 17, 2026, the closing price of our Ordinary Shares had been below $1.00 for eight consecutive days).

If our common shares are suspended or delisted, it would likely have an adverse effect on the liquidity of our common shares, decrease the market price of our common shares, result in the potential loss of confidence by investors, suppliers, customers, and employees, result in fewer business development opportunities, and adversely affect our ability to obtain financing for our continuing operations. Such a suspension or delisting would jeopardize the second closing of the Investment.

***We ceased to be a foreign private issuer as of January 1, 2026, which could result in significant additional cost and expense.***

On January 1, 2026, we ceased to qualify as a foreign private issuer. The regulatory and compliance costs to us under U.S. securities laws as a U.S. domestic issuer may be significantly higher than we were accustomed to as a foreign private issuer. We are required to file periodic reports and registration statements on U.S. domestic issuer forms with the SEC, which are more detailed and extensive in certain respects than the forms that had been available to us as a foreign private issuer. We are required under current SEC rules to prepare our financial statements in accordance with U.S. GAAP, rather than IFRS, and modify certain of our policies to comply with corporate governance practices required of U.S. domestic issuers. Such conversion of our financial statements to U.S. GAAP will involve significant time and cost. These new requirements may cause us to make errors in our disclosure controls and procedures, weaken our internal controls over financial reporting and cause us to miss important filing deadlines with the Commission or to omit necessary information, all of which could hamper your ability to make an informed investment decision in our company.

In addition, we have lost our ability to rely upon exemptions from certain corporate governance requirements on U.S. stock exchanges (including the Nasdaq Capital Market) that are available to foreign private issuers such as the ones described above and exemptions from procedural requirements related to the solicitation of proxies. As a result, we may no longer be able to take corporate actions as easily or cost-efficiently, if at all, as we could take as a foreign private issuer.

***We might consider whether to redomicile to a U.S jurisdiction.***

Since we are no longer a foreign private issuer, we will assess whether it is more beneficial for corporate purposes to redomicile to a U.S. jurisdiction than to remain as a public company under Dutch law. Such a redomicile could entail significant cost and time for us to undertake, could affect certain rights that you have as a shareholder and could impose additional disclosure and compliance requirements from both the SEC and Nasdaq.

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

The information included or incorporated by reference in this prospectus contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") regarding Mainz Biomed N.V. and its business. Forward-looking statements are those that predict or describe future events, do not relate solely to historical matters and include statements regarding management's beliefs, estimates, projections, and assumptions with respect to, among other things, our future operations, business plans and strategies, as well as industry and market conditions, all of which are subject to change at any time without notice. Words such as "believe," "expect," "anticipate," "promise," "plan," and other expressions or words of similar meanings, as well as future or conditional auxiliary verbs such as "would," "should," "could," or "may" are generally intended to identify forward-looking statements. Risks, uncertainties, contingencies, and developments, including those discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's periodic reports and those identified in "Risk Factors", could cause our future operating results to differ materially from those set forth in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

**SELLING SHAREHOLDERS**

This prospectus relates to the reoffer and resale from time to time of up to 1,000,000 Ordinary Shares issued to the selling shareholders, or underlying equity awards issued to the selling shareholders, under our 2025 Plan. The selling shareholders may sell any, all or none of such shares and we do not know when or in what amount the selling shareholders may sell such shares. The inclusion of such shares in the table below does not necessarily represent a present intention by the selling shareholders to sell any or all such shares. However, for the purposes of the table below, we have assumed that, after the completion of this offering, all Ordinary Shares covered by this prospectus has been sold.

The number of shares to be sold by any selling shareholder under this prospectus also may be increased or decreased by a prospectus supplement. Although a person's name is included in the table below, neither that person nor we are making an admission that the named person is our "affiliate."

The following table sets forth (i) the number of Ordinary Shares beneficially owned by each selling shareholder as of February 18, 2026, (ii) the number of shares to be offered for resale by each selling shareholder and (iii) the number and percentage of Ordinary Shares that each selling shareholder will beneficially own after completion of the offering, assuming that all Ordinary Shares that may be offered for resale are sold and no other Ordinary Shares beneficially owned by the selling shareholders also are sold.

Beneficial ownership is determined in accordance with Rule 13d-3 under the Exchange Act and is generally determined by voting power and/or investment power with respect to securities. Unless otherwise noted, all Ordinary Shares listed above are owned of record by each individual named as beneficial owner and such individual has sole voting and dispositive power with respect to the Ordinary Shares owned by each of them. Such person or entity's percentage of ownership is determined by assuming that any options or convertible securities held by such person which are exercisable within 60 days from the date hereof have been exercised or converted as the case may be. Unless otherwise indicated, the address for each of the selling shareholders named below is c/o Mainz Biomed N.V., Robert Koch Strasse 50, 55129 Mainz, Germany.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Selling Shareholder** | **Number of<br> Shares<br> Beneficially<br> Owned (1)** | **Number of<br> Shares to be<br> Offered for<br> the Account<br> of the<br> Selling<br> Shareholder<br> (2) (3)** | **Number of<br> Shares<br> Beneficially<br> Owned<br> After the<br> Offering (1)** | **% Owned<br> After the<br> Offering \*<br> (1)** |
| Guido Baechler |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Chief Executive Officer and Director* | 605058 | 440000 | 165058 | 1.3% |
| William Caragol |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Chief Financial Officer* | 367899 | 290000 | 77899 | \*\* |
| Heiner Driesmann |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | 64500 | 45000 | 19500 | \*\* |
| Hans Hekland |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | 56000 | 45000 | 11000 | \*\* |
| Greggory Tibbitts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Director* | 55875 | 45000 | 10875 | \*\* |
| Dr. Chris von Toerne |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*Chief Operating Officer* | 82500 | 45000 | 37500 | \*\* |
| Tarrin Taraki |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*VP Commercial* | 80500 | 35500 | 35500 | \*\* |
| Cristoph Steffen |  |  |  |  |
| &nbsp;&nbsp;&nbsp;*VP Finance* | 53500 | 45000 | 8500 | \*\* |

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\* calculated based on 12,515,336 Ordinary Shares outstanding as of February 18, 2026.

\*\* denotes less than 1%.

(1) Under
Rule 13d-3 of the Exchange Act, a beneficial owner of a security includes any person who, directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise, has or shares: (i) voting power, which includes the power to vote, or to direct
the voting of such security; and (ii) investment power, which includes the power to dispose or direct the disposition of such security.
Certain Ordinary Shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote
or the power to dispose of the shares). In addition, Ordinary Shares are deemed to be beneficially owned by a person if the person has
the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided.
In computing the percentage ownership of any person, the amount of Ordinary Shares outstanding is deemed to include the amount of shares
beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding
Ordinary Shares of any person as shown in this table does not necessarily reflect the person's actual ownership or voting power
with respect to the number of Ordinary Shares actually outstanding as of the date hereof.

(2) These
are designated as "restricted securities" and "control securities" as such terms are defined in General Instruction
C to Form S-8.

(3) Includes
Ordinary Shares underlying stock options irrespective of whether such stock option will vest more than 60 days after the date hereof.

**PLAN OF DISTRIBUTION**

In this section of the reoffer prospectus, the term "selling shareholder" means and includes:

● the persons identified in the table above as the selling shareholders; and

● any of the donees, pledgees, distributees, transferees or other successors in interest of those persons referenced above who may: (a) receive any of the Ordinary Shares offered hereby after the date of this reoffer prospectus and (b) offer or sell those shares hereunder.

The Ordinary Shares offered by this reoffer prospectus may be sold from time to time directly by the selling shareholders. Alternatively, the selling shareholders may from time to time offer such shares through underwriters, brokers, dealers, agents or other intermediaries. The selling shareholders as of the date of this reoffer prospectus have advised us that there were no underwriting or distribution arrangements entered into with respect to the Ordinary Shares offered hereby. The distribution of the Ordinary Shares by the selling shareholders may be effected: in one or more transactions that may take place on the Nasdaq Capital Market (including one or more block transaction) through customary brokerage channels, either through brokers acting as agents for the selling shareholders, or through market makers, dealers or underwriters acting as principals who may resell these shares on the Nasdaq Capital Market; in privately-negotiated sales; by a combination of such methods; or by other means. These transactions may be affected at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at other negotiated prices. Usual and customary or specifically negotiated brokerage fees or commissions may be paid by the selling shareholders in connection with sales of our Ordinary Shares.

The selling shareholders may enter into hedging transactions with broker-dealers in connection with distributions of the shares or otherwise. In such transactions, broker-dealers may engage in short sales of the Ordinary Shares in the course of hedging the positions they assume with the selling shareholders. The selling shareholders also may sell shares short and redeliver the shares to close out such short positions. The selling shareholders may enter into option or other transactions with broker-dealers which require the delivery to the broker-dealer of Ordinary Shares. The broker-dealer may then resell or otherwise transfer such Ordinary Shares pursuant to this reoffer prospectus.

The selling shareholders also may lend or pledge Ordinary Shares to a broker-dealer. The broker-dealer may sell the Ordinary Shares so lent, or upon a default the broker-dealer may sell the pledged Ordinary Shares pursuant to this reoffer prospectus. Any securities covered by this reoffer prospectus which qualify for sale pursuant to Rule 144 may be sold under Rule 144 rather than pursuant to this reoffer prospectus.

The selling shareholders have advised us that they have not entered into any agreements, understandings or arrangements with any underwriters or broker-dealers regarding the sale of their securities. There is no underwriter or coordinating broker acting in connection with the proposed sale of Ordinary Shares of the selling shareholders.

Although the Ordinary Shares covered by this reoffer prospectus are not currently being underwritten, the selling shareholders or their underwriters, brokers, dealers or other agents or other intermediaries, if any, that may participate with the selling shareholders in any offering or distribution of Ordinary Shares may be deemed "underwriters" within the meaning of the Securities Act and any profits realized or commissions received by them may be deemed underwriting compensation thereunder.

Under applicable rules and regulations under the Exchange Act, any person engaged in a distribution of shares of the Ordinary Shares offered hereby may not simultaneously engage in market making activities with respect to the Ordinary Shares for a period of up to five days preceding such distribution. The selling shareholders will be subject to the applicable provisions of the Exchange Act and the rules and regulations promulgated thereunder, including without limitation Regulation M, which provisions may limit the timing of purchases and sales by the selling shareholders.

In order to comply with certain state securities or blue sky laws and regulations, if applicable, the Ordinary Shares offered hereby will be sold in such jurisdictions only through registered or licensed brokers or dealers. In certain states, the Ordinary Shares may not be sold unless they are registered or qualified for sale in such state, or unless an exemption from registration or qualification is available and is obtained.

We will bear all costs, expenses and fees in connection with the registration of the Ordinary Shares offered hereby. However, the selling shareholders will bear any brokerage or underwriting commissions and similar selling expenses, if any, attributable to the sale of the Ordinary Shares offered pursuant to this reoffer prospectus. We have agreed to indemnify certain of the selling shareholders against certain liabilities, including liabilities under the Securities Act, or to contribute to payments to which any of those security holders may be required to make in respect thereof.

There can be no assurance that the selling shareholders will sell any or all of the securities offered by them hereby.

**LEGAL MATTERS**

The validity of the securities being offered by this prospectus will be passed upon for us by CMS Derks Star Busmann N.V. is acting as counsel to our company regarding Dutch securities law matters. The address of CMS Derks Star Busmann N.V. is Atrium, Parnassusweg 737, 1077 DG Amsterdam, Netherlands.

**EXPERTS**

The financial statements of Mainz Biomed, N.V. as of December 31, 2024 and 2023, the related consolidated statements of comprehensive loss, changes in shareholders' equity (deficit) and cash flows for the years then ended, and related notes included in this prospectus and registration statement have been so included in reliance on the report of Reliant CPA PC, an independent registered public accounting firm, given on the authority of said firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION**

We are subject to periodic reporting and other informational requirements of the Exchange Act and will file annual, quarterly and current reports, proxy statements and other information with the Commission. Our Commission filings are also available to you on the Commission's website at http://www.sec.gov. We maintain a website at www.mainzbiomed.com at which you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the Commission. The information contained in, or that can be accessed through, our website is not part of this prospectus.

**INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE**

The Commission allows us to "incorporate by reference" certain information we have filed or furnished with the Commission into this Registration Statement, which means that we are disclosing important information to you by referring you to other information we have filed or furnished with the Commission. The information we incorporate by reference is considered part of this reoffer prospectus. We specifically are incorporating by reference the following documents filed or furnished with the Commission:

● our report on [Form 8-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390026016890/ea0277246-8k_mainz.htm) filed with the SEC on February 17, 2026;

● our report on [Form 8-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390026014378/ea0275098-8k_mainz.htm) filed with the SEC on February 10, 2026;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025115584/ea0266986-6k_mainz.htm) filed with the SEC on November 26, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025096195/ea0260279-6k_mainz.htm) filed with the SEC on October 3, 2025;

● our report on [Form 6-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390025092425/ea0258521-6k_mainz.htm) filed with the SEC on September 26, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025072153/ea0251942-6k_mainz.htm) filed with the SEC on August 5, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025051621/ea0244743-6k_mainz.htm) filed with the SEC on June 5, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025046197/ea0242940-6k_mainz.htm) filed with the SEC on May 21, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025039192/ea0239810-6k_mainz.htm) filed with the SEC on May 2, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025026706/ea0236504-6k_mainz.htm) filed with the SEC on April 1, 2025;

● our Annual Report on [Form 20-f](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390025026430/ea0235678-20f_mainz.htm) for the fiscal year ended December 31, 2024, filed with the Commission on March 31, 2025; and

● the description of the Company's Ordinary Shares contained in the [Form 8-A](http://www.sec.gov/Archives/edgar/data/1874252/000121390021056327/ea149848-8a12b_mainzbio.htm) filed with the Commission on November 3, 2021, including any amendments thereto or reports filed for the purposes of updating this description.

Additionally, all documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated herein by reference and to be a part of this reoffer prospectus from the date of filing of such documents. Any statement contained in a document incorporated herein by reference will be deemed to be modified or superseded for purposes of this reoffer prospectus to the extent that a statement contained herein, or in a subsequently filed document incorporated herein by reference, modifies or supersedes the statement. Any statement modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this reoffer prospectus.

**You should rely only on the information contained in this document. We have not authorized anyone to provide you with information that is different. This document may only be used where it is legal to sell these securities. This information in this document may only be accurate as of the date of this document.**

**Additional risks and uncertainties not presently known or that are deemed immaterial may also impair our business operations. The risks and uncertainties described in this document and other risks and uncertainties which we may face in the future will have a greater impact on these who purchase our Ordinary Shares. These purchasers will purchase our Ordinary Shares at the market price or at a privately negotiated price and will run the risk of losing their entire investment.**

**1,000,000 Ordinary Shares**

February 19, 2026

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The Commission allows us to "incorporate by reference" certain information we have filed or furnished with the Commission into this Registration Statement, which means that we are disclosing important information to you by referring you to other information we have filed or furnished with the Commission. The information we incorporate by reference is considered part of this reoffer prospectus. We specifically are incorporating by reference the following documents filed or furnished with the Commission:

● our report on [Form 8-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390026016890/ea0277246-8k_mainz.htm) filed with the SEC on February 17, 2026;

● our report on [Form 8-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390026014378/ea0275098-8k_mainz.htm) filed with the SEC on February 10, 2026;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025115584/ea0266986-6k_mainz.htm) filed with the SEC on November 26, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025096195/ea0260279-6k_mainz.htm) filed with the SEC on October 3, 2025;

● our report on [Form 6-K](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390025092425/ea0258521-6k_mainz.htm) filed with the SEC on September 26, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025072153/ea0251942-6k_mainz.htm) filed with the SEC on August 5, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025051621/ea0244743-6k_mainz.htm) filed with the SEC on June 5, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025046197/ea0242940-6k_mainz.htm) filed with the SEC on May 21, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025039192/ea0239810-6k_mainz.htm) filed with the SEC on May 2, 2025;

● our report on [Form 6-K](http://www.sec.gov/Archives/edgar/data/1874252/000121390025026706/ea0236504-6k_mainz.htm) filed with the SEC on April 1, 2025;

● our Annual Report on [Form 20-f](http://www.sec.gov/ix?doc=/Archives/edgar/data/1874252/000121390025026430/ea0235678-20f_mainz.htm) for the fiscal year ended December 31, 2024, filed with the Commission on March 31, 2025; and

● the description of the Company's Ordinary Shares contained in the [Form 8-A](http://www.sec.gov/Archives/edgar/data/1874252/000121390021056327/ea149848-8a12b_mainzbio.htm) filed with the Commission on November 3, 2021, including any amendments thereto or reports filed for the purposes of updating this description.

Additionally, all documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated herein by reference and to be a part of this reoffer prospectus from the date of filing of such documents. Any statement contained in a document incorporated herein by reference will be deemed to be modified or superseded for purposes of this reoffer prospectus to the extent that a statement contained herein, or in a subsequently filed document incorporated herein by reference, modifies or supersedes the statement. Any statement modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this reoffer prospectus.

We will provide without charge to each person to whom documents are being provided pursuant to Part I of this Registration Statement, upon the written or oral request of any such person, a copy of any document described above (other than exhibits). Requests for such copies should be directed to:

Mainz Biomed N.V.<br> Robert Koch Strasse 50<br> 55129 Mainz<br> Germany

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

No expert or counsel named in this Registration Statement as having prepared or certified any part of this Registration Statement or having given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration or offering of such securities was employed on a contingency basis, or had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in our Company, nor was any such person connected with us as a promoter, managing or principal underwriter, voting trustee, director, officer, or employee.

**Item 6. Indemnification of Directors and Officers.**

Under Dutch law, members of the board of directors may be liable to the registrant for damages in the event of improper or negligent performance of their duties. They may be jointly and severally liable for damages to the registrant and third parties for infringement of our Articles of Association or certain provisions of the Dutch Civil Code. In certain circumstances, they may also incur additional specific civil and criminal liabilities.

Pursuant to the registrant's articles of association, to the fullest extent permitted by Dutch law, the following shall be reimbursed to the indemnified officers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the costs of
 conducting a defense against claims, also including claims by the Company and its group companies, as a consequence of any acts or
 omissions in the fulfilment of their duties or any other duties currently or previously performed by them at the company's
 request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any damages
 or financial penalties payable by them as a result of any such acts or omissions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any amounts
 payable by them under settlement agreements entered into by them in connection with any such acts or omissions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the costs of
 appearing in other legal proceedings in which they are involved as directors or former directors, with the exception of proceedings
 primarily aimed at pursuing a claim on their own behalf;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any taxes payable
 by them as a result of any reimbursements in accordance with the articles of association.

An indemnitee shall not be entitled to reimbursement if and to the extent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it has been
 adjudicated by a Dutch court or, in the case of arbitration, an arbitrator, in a final and conclusive decision that the act or omission
 of the Indemnitee may be characterized as intentional, deliberately reckless or grossly negligent conduct, unless Dutch law provides
 otherwise or this would, in view of the circumstances of the case, be unacceptable according to standards of reasonableness and fairness;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the costs or
 financial loss of the Indemnitee are covered by an insurance and the insurer has paid out the costs or financial loss.

The description of indemnity herein is merely a summary of the provisions in the registrant's articles of association described above, and such description shall not limit or alter the mentioned provisions in the articles of association or other indemnification agreements.

In addition, we have entered into an indemnification agreement with each of our directors and executive officers. Under these agreements, we agree to indemnify our directors and executive officers against certain liabilities and expenses incurred by such persons in connection with claims made by reason of their being a director or officer of our company.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

The list of exhibits is set forth under "Exhibit Index" at the end of this Registration Statement and is incorporated herein by reference.

**Item 9. Undertakings.**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 2.1 | [Description of Securities registered under Section 12 of the Exchange Act\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390023028320/f20f2022ex2-1_mainzbiomed.htm) |
| 3.1 | [Unofficial English translation of Deed of Conversion\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021058634/ea150506ex3-1_mainzbiomed.htm) |
| 3.2 | [Unofficial English translation of Deed of Amendment, dated December 15, 2022\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390022081400/ea170445ex99-1_mainzbiomed.htm) |
| 3.3 | [Unofficial English translation of Deed of Amendment, dated July 19, 2024\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390024094339/ea021925001ex3-2_mainz.htm) |
| 3.3 | [Unofficial English translation of Articles of Association, dated December 3, 2024\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390024106670/ea022349801ex3-3_mainz.htm) |
| 3.4 | [Unofficial English Translation of Deed of Amendment (incorporated by reference to Exhibit 4.1 to the Registrant's report on Form 6-K filed on November 26, 2025)\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390025115584/ea026698601ex4-1_mainz.htm) |
| 4.1 | [Share Certificate—Ordinary Shares\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021054579/ff12021a1ex4-1_mainzbio.htm) |
| 4.2 | [Form of Pre-Funded Warrant\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390024106670/ea022349801ex4-2_mainz.htm) |
| 5.1 | [Opinion of CMS Derks Star Busmann N.V.](ea027756401ex5-1_mainzbio.htm) |
| 10.1 | [Management Services Agreement, dated July 1, 2020, between the Company and Guido Baechler\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021052141/ff12021ex10-4_mainzbio.htm) |
| 10.2 | [Consulting Agreement, dated July 16, 2021, between the Company and William Caragol\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021052141/ff12021ex10-5_mainzbio.htm) |
| 10.3 | [Form of Silent Partnership Agreements\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021052141/ff12021ex10-9_mainzbiomed.htm) |
| 10.4 | [Mainz Biomed N.V. 2025 Omnibus Incentive Plan](ea027756401ex10-4_mainzbio.htm) |
| 10.5 | [Mainz Biomed N.V. Amended and Restated 2022 Omnibus Incentive Plan\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390023056221/ea181501ex10-2_mainzbio.htm) |
| 10.6 | [Amendment to Management Services Agreement between Guido Baechler and the Company\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021054579/ff12021a1ex10-11_mainzbio.htm) |
| 10.7 | [Amendment to Consultant Agreement between William Caragol and the Company\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021054579/ff12021a1ex10-12_mainzbio.htm) |
| 10.8 | [Technology Rights Agreement, dated January 4, 2022, between the Company and Socpra Sciences Santé Et Humaines S.E.C.\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390022003125/ff12022ex10-15_mainzbio.htm) |
| 10.9 | [Employment Contract with William Caragol, dated April 29, 2022\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390022023291/f20f2021ex10-16_mainzbio.htm) |
| 10.10 | [Intellectual Property Asset Purchase Agreement, dated February 15, 2023, with Uni Targeting Research AS\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390023013068/ea173981ex10-1_mainzbio.htm) |
| 10.11 | [Assignment Agreement, dated February 15, 2023, with SOCPRA Sciences Santé et Humaines S.E.C.\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390023013068/ea173981ex10-2_mainzbio.htm) |
| 10.12 | [Mainz Biomed USA, Inc. Carve-Out Plan\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390024016537/ea193234ex99-1_mainzbiomed.htm) |
| 10.13 | [Pre-Paid Advance Agreement (the "PPA"), dated June 28, 2023, between the Company and YA II PN, Ltd.\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390023052476/ea181062ex10-1_mainzbio.htm) |
| 10.14 | [License and Option Agreement, dated March 10, 2025, between Mainz Biomed N.V. and Liquid Biosciences\* +](http://www.sec.gov/Archives/edgar/data/1874252/000121390025026430/ea023567801ex10-20_mainz.htm) |
| 10.15 | [Securities Purchase Agreement, dated February 13, 2026, between Mainz Biomed N.V. and David Lazar (incorporated by reference to Exhibit 10.1 to the Registrant's report on Form 8-K filed on February 17, 2026)\*+](http://www.sec.gov/Archives/edgar/data/1874252/000121390026016890/ea027724601ex10-1_mainz.htm) |
| 10.16 | [Form of Voting Agreement (incorporated by reference to Exhibit 10.2 to the Registrant's report on Form 8-K filed on February 17, 2026)\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390026016890/ea027724601ex10-2_mainz.htm) |
| 10.17 | [Form of Settlement Agreement (incorporated by reference to Exhibit 10.3 to the Registrant's report on Form 8-K filed on February 17, 2026)\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390026016890/ea027724601ex10-3_mainz.htm) |
| 11.2 | [Code of Ethics and Business Conduct\*](https://www.sec.gov/Archives/edgar/data/1874252/000121390021054579/ff12021a1ex14-1_mainzbio.htm) |
| 23.1 | [Consent of Reliant CPA PC](ea027756401ex23-1_mainzbio.htm) |
| 97.1 | [Executive Compensation Clawback Policy\*](http://www.sec.gov/Archives/edgar/data/1874252/000121390024031299/ea020335401ex97-1_mainz.htm) |
| 107 | [Filing Fee Table](ea027756401ex-fee_mainzbio.htm) |

---

\* Previously filed. <br>+ Confidential Treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized on February 19, 2026.

---

| | |
|:---|:---|
| **Mainz Biomed N.V.** | **Mainz Biomed N.V.** |
| By | */s/ Guido Baechler* |
|  | Guido Baechler |
|  | Chief Executive Officer<br> (Principal Executive Officer) |

---

**POWER OF ATTORNEY**

We, the undersigned directors and officers of the Registrant, hereby severally constitute and appoint Guido Baechler and William Caragol, and each of them singly, our true and lawful attorneys, with full power to them, and to each of them singly, to sign for us and in our names in the capacities indicated below, the registration statement on Form F-3 filed herewith, and any and all pre-effective and post-effective amendments to said registration statement, and any registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, in connection with the registration under the Securities Act of 1933, as amended, of equity securities of the Registrant, and to file or cause to be filed the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as each of us might or could do in person, and hereby ratifying and confirming all that said attorneys, and each of them, or their substitute or substitutes, shall do or cause to be done by virtue of this Power of Attorney.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| /s/ Guido Baechler |  |  |
| Guido Baechler | Director and Chief Executive Officer | February 19, 2026 |
| /s/ William Caragol | Chief Financial Officer |  |
| William Caragol | (Principal Financial Officer and Principal Accounting Officer) | February 19, 2026 |
| /s/ Dr. Heiner Dreismann |  |  |
| Dr. Heiner Dreismann | Director | February 19, 2026 |
| /s/ Gregory Tibbitts |  |  |
| Gregory Tibbitts | Director | February 19, 2026 |
| /s/ Hans Hekland |  |  |
| Hans Hekland | Director | February 19, 2026 |
| /s/ David Lazar |  |  |
| David Lazar | Director | February 19, 2026 |

---

**SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES**

Pursuant to the Securities Act of 1933, the undersigned, the duly authorized representative in the United States of Mainz Biomed N.V., has signed this registration statement or amendment thereto in Florida, USA, on February 19, 2026.

---

| | |
|:---|:---|
| William Caragol | William Caragol |
| By: | /s/ William Caragol |
|  | William Caragol |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

---

| | |
|:---|:---|
|  | **CMS Derks Star Busmann N.V.** |
|  | Atrium \| Parnassusweg 737 |
|  | NL-1077 DG Amsterdam |
|  | P.O. Box 94700 |
| Mainz Biomed N.V. | NL-1090 GS Amsterdam |
| Robert Koch Strasse 50 |  |
| 55129 Mainz | Bank account (Stichting Derdengelden) |
| GERMANY | Iban: NL31 RABO 0103 3545 49 |
|  | Swift/bic: RABONL2U |
|  | **T** +31 20 301 63 01 |
|  | **F** +31 20 301 63 05 |
|  | **I** cms.law |

---

---

| | |
|:---|:---|
| **Subject: Mainz Biomed N.V. / Legal opinion** | 18 February 2026 |

---

Dear Madam/Sir,

We have acted as Dutch legal counsel to Mainz Biomed N.V. of Amsterdam, the Netherlands (the "**Company**"), in respect of certain matters of Dutch law in connection with;

(i) the
 reoffer of 1,000,000 ordinary shares in the capital of the Company with a nominal value of
 EUR 0.01 issued to directors and officers of the Company in accordance with the Company's
 Omnibus Incentive Plan 2025 (the "**Reoffer Shares** "), and

(ii) the
 registration of up to 410,753 ordinary shares in the capital of the Company with a nominal
 value of EUR 0.01 that can be issued under the Company's Omnibus Incentive Plan 2025
 (the "**Plan Shares** ", the Plan Shares together with the Reoffer Shares collectively
 referred to as the "**Registration Shares** ").

The Registration Shares are being registered pursuant to a form S-8 filed by the Company on or around 18 February 2026.

All services are rendered under an agreement of instruction with CMS Derks Star Busmann N.V., with registered office in Amsterdam, the Netherlands. This agreement is subject to the General Conditions of CMS Derks Star Busmann N.V., which have been filed with the registrar of the District Court Amsterdam, the Netherlands, under no. 84/2020 and which contain a limitation of liability. These terms have been published on the website cms.law and will be provided upon request. CMS Derks Star Busmann N.V. is a company with limited liability under the laws of the Netherlands and is registered in the Netherlands with the trade register under no. 30201194 and in Belgium with the RPR Brussels under no. 0877.478.727. The VAT number of CMS Derks Star Busmann N.V. for the Netherlands is NL8140.16.479.B01 and for Belgium BE 0877.478.727.

CMS Derks Star Busmann is a member of CMS, the organisation of European law firms. In certain circumstances, CMS is used as a brand or business name of, or to refer to, some or all of the member firms or their offices. Further information can be found at www.cms.law.

CMS offices and associated offices: Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing, Belgrade, Berlin, Bogotá, Bratislava, Bristol, Brussels, Bucharest, Budapest, Casablanca, Cologne, Dubai, Duesseldorf, Edinburgh, Frankfurt, Funchal, Geneva, Glasgow, Hamburg, Hong Kong, Istanbul, Johannesburg, Kyiv, Leipzig, Lima, Lisbon, Ljubljana, London, Luanda, Luxembourg, Lyon, Madrid, Manchester, Mexico City, Milan, Mombasa, Monaco, Moscow, Munich, Muscat, Nairobi, Paris, Podgorica, Poznan, Prague, Reading, Rio de Janeiro, Riyadh, Rome, Santiago de Chile, Sarajevo, Seville, Shanghai, Sheffield, Singapore, Skopje, Sofia, Strasbourg, Stuttgart, Tirana, Utrecht, Vienna, Warsaw, Zagreb and Zurich.

![](ex5-1_002.jpg)

For the purpose of this legal opinion, we have examined and relied solely upon the following documents:

(a) an electronically
 received copy of an extract relative to the Company, dated 18 February 2026 (the "**Extract** ")
 from the trade register (*handelsregister*) of the Dutch Chamber of Commerce (*Kamer van Koophandel*)
 (the "**Trade Register** ");

(b) an official
 copy (*afschrift*) of the notarial deed of incorporation (*akte van oprichting*) of the Company,
 dated 8 March 2021 (the "**Deed of Incorporation** "), containing the articles of association
 of the Company before the execution of the Deed of Conversion;

(c) an official
 copy of a notarial deed of conversion dated 9 November 2021 (the "**Deed of Conversion** ");

(d) an
 official copy of the notarial deed of amendment of the articles of association of the Company,
 dated 13 November 2025 (the "**Deed of Amendment** "), containing the articles
 of association of the Company as of such date (the "**Articles of Association** ");

(e) a written resolution of the board (*bestuur*) of the Company,
dated 17 February 2026 (the "**Board Resolution** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) a written resolution of the general meeting
 (*algemene vergadering*) of the Company, dated 1 November 2021 (the "**Shareholder Resolution** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) an electronically
 received copy of the Form S-8 received per email on 18 February 2026.

We do not express any opinion in respect of the Form S-8.

In connection with such examination and for the purpose of the legal opinion expressed herein, we have assumed:

(i) that
 at the time of the issuance of the Plan Shares, the Company's authorized capital will
 be sufficient to allow for their issuance;

(ii) that
 the Registration Shares will be offered, subscribed for, issued and accepted by the investors
 in accordance with all applicable laws (including for the avoidance of doubt, Dutch law);

(iii) that
 the Registration Shares have been and will be validly paid up at the time of the issuances;

(iv) that
 the Plan Shares will be issued in the form and manner prescribed by the articles of association
 at the time of the issuances;

(v) that
 the Company will duly sign a deed of issue to implement each issuance of Plan Shares;

(vi) that
 each signature on each document is the original or electronic (as relevant) signature of
 the relevant stated person;

(vii) the
 genuineness of all signatures on all original documents of the persons purported to have
 signed the same;

(viii) the
 conformity to their originals of all documents submitted or transmitted to us in the form
 of photocopies, electronically or otherwise, and the authenticity and completeness of such
 originals;

(ix) that
 the Shareholder Resolution and the Board Resolution have been validly signed and that the
 resolutions reflected therein will be in full force and effect at the time of the issuance
 of the Registration Shares and that none of these resolutions will be withdrawn or restated
 and that no resolutions have been or will be adopted to amend the contents of these resolutions;

![](ex5-1_002.jpg)

(x) that
 the Deed of Incorporation, the Deed of Conversion and the Deed of Amendment are valid notarial
 deeds (*notariële aktes*), that the content thereof is correct and complete, it
 being hereby confirmed that on the face of the Deed of Incorporation, the Deed of Conversion
 and the Deed of Amendment it does not appear that these deeds are not valid notarial deeds;

(xi) that
 the Articles of Association are in full force and effect at the date hereof, it being hereby confirmed
that on the face of the Articles of Association and the Extract it does not appear that the Articles of Association are not in full force
and effect as at the date hereof;

(xii) that
 any and all authorisations and consents of, or other filings with or notifications to, any
 public authority or other relevant body or person in or of any jurisdiction which may be
 required (other than under Dutch law) in respect of the issuance of the Registration Shares
 have been or will be duly obtained or made, as the case may be;

(xiii) that
 no petition has been presented to, nor an order made by, a court for the bankruptcy (*faillissement*)
 of the Company and that no resolution has been adopted concerning a statutory merger (*juridische fusie*) or division (*splitsing*) involving the Company as disappearing entity, or
 a voluntary liquidation (*ontbinding*) of the Company;

(xiv) that
 the information contained in the Extract truly and correctly reflects the position of the
 Company as mentioned therein;

(xv) that,
 at the time of the issuances of the Registration Shares, the Company, and the investors are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) not
 included on the consolidated list of persons, groups and entities subject to EU financial
 sanctions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not
 subject to the restrictive measures deriving from Council Regulation (EU) 2022/262 and Council
 Decision (CFSP) 2022/264, issued by the Council of the European Union on 23 February 2022,
 in view of Russia's actions destabilising the situation in Ukraine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not
 subject to the restrictive measures deriving from Council Regulation (EU) 2022/334 and Council
 Decision (CFSP) 2022/335, issued by the Council of the European Union on 28 February 2022,
 in view of Russia's actions destabilising the situation in Ukraine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) not
 subject to the restrictive measures deriving from Council Regulation (EU) 2022/428 and Council
 Decision (CFSP) 2022/430, issued by the Council of the European Union on 15 March 2022, in
 view of Russia's actions destabilising the situation in Ukraine; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) not
 subject to any other restrictive measures issued by the Council of the European Union, in
 view of Russia's actions destabilising the situation in Ukraine;

![](ex5-1_002.jpg)

(xvi) that,
 at the date hereof, the directors of the Company are not subject to a director's disqualification
 (*civielrechtelijk bestuursverbod*) under Dutch law, which assumption is supported by
 the confirmation of the directors in the Board Resolution; and

(xvii) that
 the Company has not been dissolved (*ontbonden*), merged (*gefuseerd*) involving
 the Company as disappearing entity, demerged (*gesplitst*), converted (*omgezet*),
 granted a suspension of payments (*surséance verleend*), subjected to emergency
 regulations (*noodregeling*) as provided for in the Financial Supervision Act (*Wet op het Financieel Toezicht*), declared bankrupt (*failliet verklaard*), subjected
 to any other insolvency proceedings listed in Annex A of Regulation (EU) 2015/848 of the
 European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast),
 as amended by Regulation (EU) 2021/2260 of the European Parliament and of the Council of
 15 December 2021 amending Regulation (EU) 2015/848 on insolvency proceedings to replace its
 Annexes A and B, listed on the list referred to in article 2 (3) of Council Regulation (EC)
 No 2580/2001 of 27 December 2001, listed in Annex I to Council Regulation (EC) No 881/2002
 of 27 May 2002 or listed and marked with an asterisk in the Annex to Council Common Position
 2001/931 of 27 December 2001 relating to measures to combat terrorism, as amended from time
 to time, and no trustee (*curator*), administrator (*bewindvoerder*) or similar
 officer has been appointed in respect of the Company or any of its respective assets.

We express no opinion as to any law other than the laws of the Netherlands in force at the date hereof as applied and interpreted according to present duly published case law of the Dutch courts. No opinion is rendered with respect to any matters of fact, anti-trust law, market abuse, equal treatment of shareholders, financial assistance, tax law or the laws of the European Communities, to the extent not or not fully implemented in the laws of the Netherlands.

In this legal opinion, Dutch legal concepts are expressed in English terms and not in their original Dutch terms. Where indicated in italics, Dutch equivalents of these English terms have been given for the purpose of clarification. The Dutch concepts may not be identical to the concepts described by the same English terms as they exist under the laws of other jurisdictions. Terms and expressions of law and of legal concepts as used in this legal opinion have the meaning attributed to them under the laws of the Netherlands and this legal opinion should be read and understood accordingly.

This legal opinion is strictly limited to the matters stated herein and may not be read as extending by implication to any matter not specifically referred to. Nothing in this legal opinion should be taken as expressing an opinion in respect of the factual accuracy of any representations or warranties, or other information, contained in any document, referred to herein or examined in connection with this legal opinion, except as expressly stated otherwise. For the purpose hereof, we have assumed such accuracy.

Based upon the foregoing (including, without limitation, the documents and the assumptions set out above) and subject to the qualifications set out below and any facts, circumstances, events or documents not disclosed to us in the course of our examination referred to above, we are, at the date hereof, of the opinion that:

1. The
 Reoffer Shares have been validly issued, fully paid and will be non-assessable.

2. When
 issued, the Plan Shares will have been validly issued, fully paid and will be nonassessable.

The opinion expressed above is subject to the following qualifications:

(A) The
 opinion expressed above may be affected or limited by any applicable bankruptcy, insolvency,
 fraudulent conveyance *(actio pauliana*), reorganization, suspension of payment and
 other or similar laws now or hereafter in effect, relating to or affecting the enforcement
 or protection of creditors' rights.

(B) A
 power of attorney (*volmacht*) or mandate (*lastgeving*) granted or issued by the
 Company will terminate by force of law and without any notice being required upon bankruptcy
 of the Company and will become ineffective upon a suspension of payments (*surséance van betaling*) being granted to the Company.

(C) A
 court applying the laws of the Netherlands may: (i) at the request of any party to an agreement
 change the effect of an arrangement or dissolve it in whole or in part in the event of unforeseen
 circumstances (*onvoorziene omstandigheden*) of such nature that do not, according the
 standards of reasonableness and fairness, justify the other party to expect the agreement
 to be maintained unchanged; (ii) limit any claim for damages or penalties on the basis that
 such claim is deemed excessive by the court; and (iii) refuse to give effect to any provisions
 for the payment of expenses in respect of the costs of enforcement (actual or attempted)
 or unsuccessful litigation brought before such court or tribunal or where such court or tribunal
 has itself made an order for costs.

![](ex5-1_002.jpg)

(D) The
 opinion expressed above may be limited or affected by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) claims
 based on tort (*onrechtmatige daad*);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in
 relation to the issuance of the Registration Shares, including but not limited to an issuance
 below market value, the rules of force majeure (*niet toerekenbare tekortkoming*), reasonableness
 and fairness (*redelijkheid en billijkheid*), suspension (*opschorting*), dissolution
 (*ontbinding*), unforeseen circumstances (*onvoorziene omstandigheden*) and vitiated
 consent (i.e., duress (*bedreiging*), fraud (*bedrog*), abuse of circumstances
 (*misbruik van omstandigheden*) and error (*dwaling*)) or a difference of intention
 (*wil*) and declaration (*verklaring*).

(E) If
 a party is controlled by or otherwise connected with a person, organization or country that
 is currently the subject of sanctions by the United Nations, the European Community or the
 Netherlands, implemented, effective or sanctioned in the Netherlands under the Sanctions
 Act 1977 (*Sanctiewet 1977*), the Economic Offences Act (*Wet op de economische delicten*)
 or the Financial Supervision Act (*Wet op het Financieel Toezicht*) or is otherwise
 the target of any such sanctions, the obligations of the Company to that party may be unenforceable,
 void or otherwise affected.

(F) The
 term "non-assessable" has no equivalent legal term under Dutch law and for the
 purpose of this opinion, "non-assessable" means that a holder of a Registration
 Share will not by reason of merely being such a holder, be subject to assessment or calls
 by the Company or its creditors for further payment on such Registration Share.

This opinion is rendered to you for the sole purpose of the filing of this opinion as an exhibit to Form S-8 to be submitted by the Company on or around the date hereof, to which filing we consent under the express condition that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) we
 do not admit that we are within the category of persons whose consent is required within
 Section 7 of the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any
 issues of interpretation or liability arising under this legal opinion will be governed exclusively
 by the laws of the Netherlands and be brought exclusively before a Dutch court;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) this
 legal opinion is subject to acceptance of the limitation of liability as mentioned on the
 first page of this letter. Subject to its terms, our insurance policy provides for a maximum
 insured amount of EUR 100,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) we
 do not assume any obligation to notify or to inform you of any developments subsequent to
 the date hereof that might render its contents untrue or inaccurate in whole or in part at
 such time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) this
 legal opinion is strictly limited to the matters set forth herein and no opinion may be inferred
 or implied beyond our opinion expressly stated herein.

Yours faithfully,

/s/ CMS Derks Star Busmann N.V.

CMS Derks Star Busmann N.V.

## Exhibit 10.4

**Exhibit 10.4**

**MAINZ BIOMED N.V.**

**2025 OMNIBUS INCENTIVE PLAN**

This 2025 Omnibus Incentive Plan of Mainz Biomed N.V. is effective as of June 2, 2025.

**WHEREAS**, the Board of Directors of Mainz Biomed N.V. and the Committee have deemed it to be in the best interests of the Mainz Biomed N.V. to implement the 2025 Omnibus Incentive Plan;

**NOW, THEREFORE**, the 2025 Omnibus Incentive Plan is hereby implemented.

**SECTION 1. Establishment and Purpose.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Purpose</u>.** The purpose of the Plan is to promote the interests of Mainz Biomed N.V., a corporation incorporated in the Netherlands (the "Corporation"), and its shareholders by providing eligible employees, directors and consultants with additional incentives to remain with the Corporation and its affiliated entities and subsidiaries, to increase their efforts to make the Corporation more successful, to reward such persons by providing an opportunity to acquire Ordinary Shares and to attract and retain the best available personnel to participate in the ongoing business operations of the Corporation. The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Shares, Restricted Share Units, Share Appreciation Rights, Performance Units and Performance Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Adoption and Term</u>.** The Plan has been adopted by the Board of Directors, and subject to the approval of the general meeting of the Corporation, is effective March 4, 2025. The Plan will remain in effect until terminated or abandoned by action of the Board of Directors except as otherwise provided in Section 16.

**SECTION 2. Definitions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) "<u>Applicable Laws</u>"** means the requirements relating to the administration of equity-based awards under Dutch corporate law, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Ordinary Shares are listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) "<u>Award</u>"** means the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Shares, Restricted Share Units, Share Appreciation Rights, Performance Units or Performance Shares made pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) "<u>Award Agreement</u>"** means an agreement entered into by the Corporation and the Participant setting forth the terms applicable to an Award granted to the Participant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) "<u>Board of Directors" or "Board</u>"** means the board of directors of the Corporation, as constituted from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) "<u>Cause</u>"** means (i) conviction of, or the entry of a plea of guilty or no contest to, a felony or any other crime that causes the Corporation public disgrace or disrepute, or adversely affects the Corporation's operations, condition (financial or otherwise), prospects or interests, (ii) gross negligence or willful misconduct with respect to the Corporation, including, without limitation fraud, embezzlement, theft or dishonesty in the course of his or her employment; (iii) alcohol abuse or use of controlled drugs other than in accordance with a physician's prescription; (iv) refusal, failure or inability to perform any material obligation or fulfill any duty (other than any duty or obligation of the type described in clause (6) below) to the Corporation (other than due to a disability), which failure, refusal or inability is not cured within 10 days after delivery of notice thereof; (v) material breach of any agreement with or duty owed to the Corporation; or (vi) any breach of any obligation or duty to the Corporation (whether arising by statute, common law, contract or otherwise) relating to confidentiality, noncompetition, nonsolicitation or proprietary rights. Notwithstanding the foregoing, if a Participant and the Corporation have entered into an employment agreement, consulting agreement or other similar agreement that specifically defines "Cause," then with respect to such Participant, "Cause" shall have the meaning defined in that employment agreement, consulting agreement or other agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) "<u>Change of Control</u>"** means the occurrence of any of the following, in one transaction or a series of related transactions: (i) any person (as such term is used in Section 13(d) and 14(d) of the Exchange Act) becoming a "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Corporation representing more than 50% of the voting power of the Corporation's then outstanding capital stock; (ii) a consolidation, share exchange, reorganization or merger of the Corporation resulting in the shareholders of the Corporation immediately prior to such event not owning at least a majority of the voting power of the resulting entity's securities outstanding immediately following such event or, if the resulting entity is a direct or indirect subsidiary of the entity whose securities are issued in such transaction(s), the voting power of such issuing entity's securities outstanding immediately following such event; (iii) the sale or other disposition of all or substantially all the assets of the Corporation (other than a transfer of financial assets made in the ordinary course of business for the purpose of securitization or any similar purpose); or (iv) any similar event deemed by the Committee to constitute a Change in Control for purposes of the Plan. For the avoidance of doubt, a transaction or a series of related transactions will not constitute a Change in Control if such transaction(s) result(s) in the Corporation, any successor to the Corporation, or any successor to the Corporation's business, being controlled, directly or indirectly, by the same person or persons who controlled the Corporation, directly or indirectly, immediately before such transaction(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) "<u>Code</u>"** means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) "<u>Committee</u>"** means the Compensation Committee of the Board of Directors or such other committee or individuals satisfying Applicable Laws appointed by the Board in accordance with Section 3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) "<u>Consultant</u>"** means any person other than an Employee, engaged by the Corporation or Subsidiary to render services to such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(j) "<u>Corporation</u>"** means Mainz Biomed N.V., a corporation incorporated in the Netherlands and, where applicable, its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(k) "<u>Date of Grant</u>"** means the date on which the Committee grants an Award pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(l) "<u>Directors</u>"** means a directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(m) "<u>Disability</u>"** means total and permanent disability as defined in Section 22(e)(3) of the Code, provided that in the case of Awards other than Incentive Stock Options, the Committee in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Committee from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(n) "<u>Effective Date</u>"** means March 4, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(o) "<u>Employee</u>"** means any individual who is a common-law employee of the Corporation or a Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(p) "<u>Exchange Act</u>"** means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(q) "<u>Exchange Program</u>"** means a program established by the Committee under which outstanding Awards are amended to provide for a lower Exercise Price or surrendered or cancelled in exchange for (i) Awards with a lower exercise price, (ii) a different type of Award or awards under a different equity incentive plan, (iii) cash, or (iv) a combination of (i), (ii) and/or (iii). Notwithstanding the preceding, the term Exchange Program does not include any (i) action described in Section 13 or any action taken in connection with a Change in Control transaction or (ii) transfer or other disposition permitted under Section 13.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(r) "<u>Exercise Price</u>"** with respect to an Option, means the price per share at which an Optionee may exercise his Option to acquire all or a portion of the Ordinary Shares that are the subject of such Option, as determined by the Committee on the Date of Grant. Except with respect to Substitute Awards, in no event shall the Exercise Price of any Ordinary Shares made the subject of an Option, be less than (i) the higher of (a) the Fair Market Value on the Date of Grant and (b) the nominal value of an Ordinary Share or (ii) for 10% Shareholders, (a) the higher of 110% of the Fair Market Value on the Date of Grant and (b) the nominal value of an Ordinary Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(s) "<u>Fair Market Value</u>"** means, as of any date, the value of Ordinary Shares determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the Ordinary Shares are listed on any established stock exchange
or a national market system, including without limitation the New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global
Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sale price for such Ordinary
Shares (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of determination, as reported
in *The Wall Street Journal* or such other source as the Committee deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Ordinary Shares are regularly quoted by a recognized
securities dealer but selling prices are not reported, or if the Ordinary Shares are quoted on the Over-the-Counter (OTC) market, be
that the OTCQB, OTCBB or Pink Sheets, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for
the Ordinary Shares on the day of determination, as reported in *The Wall Street Journal,* the OTC, or such other source as the
Committee deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) For purposes of any Awards granted on the Registration Date,
the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement
in Form F-1 filed with the Securities and Exchange Commission for the initial public offering of the Corporation's Ordinary Shares;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the absence of an established market for the Ordinary Shares,
the Fair Market Value will be determined in good faith by the Board of Directors after taking into account such factors as the Board
shall deem appropriate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(s) "<u>Incentive Stock Option" or "ISO</u>"** means a stock option intended to satisfy the requirements of Section 422(b) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(t) "<u>Nonstatutory Option</u>"** means a stock option not intended to satisfy the requirements of Section 422(b) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(u) "<u>Officer</u>"** means a person who is an officer of the Corporation within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(v) "<u>Option</u>"** means an ISO or Nonstatutory Option granted under the Plan and entitling the holder to purchase Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(w) "<u>Ordinary Shares</u>"** means those ordinary shares, nominal value € 0.40 per share (as may be adjusted), of the Corporation as authorized by the Corporation's Articles of Association, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(x) "<u>Option Shares</u>"** means those Ordinary Shares made the subject of an Option granted pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(y) "<u>Optionee</u>"** means an individual who is granted an Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(z) "<u>Other Share-Based Award</u>"** means an equity-based or equity-related Award, other than an Option, Performance Share, Performance Unit, SAR, Restricted Shares, or Restricted Share Unit, granted in accordance with the terms and conditions set forth under <u>Section 11</u> (including upon the attainment of any performance goals or otherwise as permitted under the Plan).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(aa) "<u>Outside Director</u>"** means a member of the Board of Directors who is not an Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(bb) "<u>Participant</u>"** means a person who has an outstanding Award under the Plan. The term Participant also refers to an Optionee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(cc) "<u>Performance Goal</u>"** means a performance goal established by the Committee pursuant to Section 10(c) of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(dd) "<u>Performance Share</u>"** means an Award denominated in Shares which may be earned in whole or in part upon attainment of Performance Goals or other vesting criteria as the Committee may determine pursuant to Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ee) "<u>Performance Unit</u>"** means an Award which may be earned in whole or in part upon attainment of Performance Goals or other vesting criteria as the Committee may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ff) "<u>Plan</u>"** means this Mainz Biomed N.V. 2025 Omnibus Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(gg) "<u>Prior Plans</u>"** means the Mainz Biomed N.V. Amended and Restated 2022 Omnibus Incentive Plan and the Mainz Biomed 2021 Omnibus Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(hh) "<u>Registration Date</u>"** means the effective date of the first registration statement that is filed by the Corporation and declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Corporation's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** "**<u>Restricted Shares</u>**" means those Ordinary Shares made the subject of an Award granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(jj) "<u>Restricted Share Unit</u>"** means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Share Unit represents an unfunded and unsecured obligation of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(kk) "<u>Rule 16b-3</u>"** means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ll) "<u>Section 16(b)</u>"** means Section 16(b) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(mm) "<u>Service</u>"** means service as an Employee, Consultant or Outside Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(nn) "<u>Share</u>"** means an Ordinary Shares, as adjusted in accordance with Section 13 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(oo) "<u>Share Appreciation Right" or "SAR</u>"** means a right awarded to a Participant pursuant to Section 9 of the Plan, which shall entitle the Participant to receive cash, Ordinary Shares, other property or a combination thereof, as determined by the Committee, in an amount equal to or otherwise based on the excess of (a) the Fair Market Value of an Ordinary Share at the time of exercise over (b) the exercise price of the right, as established by the Committee on the date the award is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(pp) "<u>Subsidiary</u>"** means any corporation (other than the Corporation) in an unbroken chain of corporations beginning with the Corporation if each of the corporations other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(qq) "<u>Substitute Award</u>"** means an Award granted under the Plan in assumption of, or in substitution for, outstanding awards previously granted by an entity acquired by the Corporation or with which the Corporation combines.

**SECTION 3. Administration.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Committee of the Board of Directors</u>.** The Plan may be administered by the Compensation Committee of the Board of Directors or such other Committee or individuals as appointed by the Board to administer the Plan. The Committee shall have such authority and be responsible for such functions as the Board of Directors has assigned to it. Members of the Committee shall serve for such period of time as the Board of Directors may determine and shall be subject to removal by the Board of Directors at any time. The Board of Directors may also at any time terminate the functions of the Committee and reassume all powers and authorities previously delegated to the Committee. If no Committee has been appointed, the entire Board of Directors shall administer the Plan.

To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Authority</u>.** Subject to the terms and conditions of the Plan, the Committee shall have the sole discretionary authority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** to authorize the granting of Awards under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** to select the Employees, Consultants or Outside Directors who are to be granted Awards under the Plan and to determine the conditions subject to such Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** to construe and interpret the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)** to determine Fair Market Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(v)** to establish and modify administrative rules for the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(vi)** to impose such conditions and restrictions with respect to the Awards, not inconsistent with the terms of the Plan, as it determines appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(vii)** to execute or cause to be executed Award Agreements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(viii)** generally, to exercise such power and perform such other acts in connection with the Plan and the Awards, and to make all determinations under the Plan as it may deem necessary or advisable or as required, provided or contemplated hereunder.

Any person delegated or designated by the Committee shall be subject to the same obligations and requirements imposed on the Committee and its members under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Exchange Program</u>**. Notwithstanding anything in this Section 3, the Committee shall not implement an Exchange Program without the approval of the majority of the members of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Delegation by the Committee</u>**. The Committee, in its sole discretion and on such terms and conditions as it may provide, may delegate all or any part of its authority and powers under the Plan to one or more Directors or officers of the Corporation; provided, however, that the Committee may not delegate its authority and powers (a) with respect to Section 3(c), (b) an Officer or (c) in any way which would jeopardize the Plan's qualification under Code Section 162(m), if applicable, or Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Indemnification</u>**. To the maximum extent permitted by law, the Corporation shall indemnify each member of the Committee, the Board, and any Employee with duties under the Plan, against all liabilities and expenses (including any amount paid in settlement or in satisfaction of a judgment) reasonably incurred by the individual in connection with any claims against the individual by reason of the performance of the individual's duties under the Plan. This indemnity shall not apply, however, if: (i) it is determined in the action, lawsuit, or proceeding that the individual is guilty of gross negligence or intentional misconduct in the performance of those duties; or (ii) the individual fails to assist the Corporation in defending against any such claim. The Corporation shall have the right to select counsel and to control the prosecution or defense of the suit. The Corporation shall not be obligated to indemnify any individual for any amount incurred through any settlement or compromise of any action unless the Corporation consents in writing to the settlement or compromise.

**SECTION 4. Eligibility and Award Limitations.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Award Eligibility</u>**. Employees, Consultants and Outside Directors shall be eligible for the grant of Awards under the Plan. Only Employees shall be eligible for the grant of Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Award Limitations</u>**. The Corporation may apply limits on the grant of Awards during any fiscal year or any particular type or amount of Award.

**SECTION 5. Shares Subject To The Plan.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Shares Subject to the Plan</u>**. Subject to the provisions of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is 550,000 Shares (the "Initial Limit"); provided, however, that the aggregate number of Shares that may be issued under all Awards under the Plan will automatically increase on a quarterly basis on the first day of each quarter beginning on July 1, 2025 (the "Quarterly Increase") such that the aggregate number of Shares that may be issued under all Awards under the Plan equals 15% (fifteen percent) of the total number of shares of Common Stock outstanding on the last day of the immediately preceding fiscal quarter (or such lesser amount determined by the Board), assuming the conversion of any outstanding shares of preferred stock but excluding the conversion of any convertible securities, the exercise of any warrants or shares underlying any Awards hereunder (the "Share Limit"). The Shares may be authorized, but unissued, or reacquired Ordinary Shares. In order that the applicable regulations under the Code relating to ISOs be satisfied, the maximum number of Shares that may be issued under the Plan upon the exercise of ISOs may not exceed the Initial Limit. Upon effectiveness of this Plan, no further awards will be granted under the Prior Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Lapsed Awards</u>**. To the extent an Award expires, is surrendered pursuant to an Exchange Program or becomes unexercisable without having been exercised or, with respect to Restricted Shares, Restricted Share Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Corporation due to failure to vest, the unpurchased Shares (or for Awards other than Options or Share Appreciation Rights the forfeited or repurchased Shares), which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). Notwithstanding the foregoing (and except with respect to Restricted Shares that are forfeited rather than vested), Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Shares, Restricted Share Units, Performance Shares or Performance Units are repurchased by the Corporation or are forfeited to the Corporation, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan.

**SECTION 6. Terms And Conditions Of Stock Options.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Power to Grant Options</u>**. Subject to the maximum per person share limitation in Section 4, the Committee may grant to such Employees or persons as the Committee may select, Options entitling the Optionee to purchase Ordinary Shares from the Corporation in such quantity, and on such terms and subject to such conditions not inconsistent with the terms of the Plan, as may be established by the Committee at the time of grant or pursuant to applicable resolution of the Committee, and as set forth in the Participant's Option Award Agreement. Options granted under the Plan may be Nonstatutory Stock Options or Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Optionee to Have No Rights as a Shareholder</u>**. An Optionee, or a transferee of an Optionee, shall have no rights as a shareholder of the Corporation with respect to the Ordinary Shares made subject to an Option unless and until such Optionee exercises such Option and is issued the shares purchased thereby. No adjustments shall be made for distributions, dividends, allocations, or other rights with respect to any Ordinary Shares prior to the exercise of such Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Award Agreements</u>**. The terms of any Option shall be set forth in an Award Agreement in such form as the Committee shall from time to time determine. Each Award Agreement shall comply with and be subject to the terms and conditions of the Plan and such other terms and conditions as the Committee may deem appropriate. In the event that any provision of an Option granted under the Plan shall conflict with any term in the Plan as constituted on the Date of Grant of such Option, the term in the Plan constituted on the Date of Grant of such Option shall control. No person shall have any rights under any Option granted under the Plan unless and until the Corporation and the Optionee have executed an Award Agreement setting forth the grant and the terms and conditions of the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Vesting</u>**. Unless a different vesting schedule is listed in an individual Award Agreement, the Shares subject to an Option granted under the Plan shall vest and become exercisable in accordance with the following schedule:

---

| | |
|:---|:---|
| **Completed Years of Employment/ <br> Service From Date of Grant** | **Cumulative<br> Vesting Percentage** |
| 1 | 25% |
| 2 | 50% |
| 3 | 75% |
| 4 Years or more | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Exercise Price and Procedures</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Exercise Price</u>. The Exercise Price means the price per share at which an Optionee may exercise his Option to acquire all or a portion of the Ordinary Shares that are the subject of such Option. Notwithstanding the foregoing, except with respect to Substitute Awards, in no event shall the Exercise Price of any Ordinary Shares made the subject of an Option be less than the higher of (i) the Fair Market Value of such Ordinary Shares, determined as of the Date of Grant, and (ii) the nominal value of an Ordinary Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Exercise Procedures</u>. Each Option granted under the Plan shall be exercised by providing written notice to the Committee, together with payment of the Exercise Price, which notice and payment must be received by the Committee on or before the earlier of (i) the date such Option expires, and (ii) the last date on which such Option may be exercised as provided in paragraph (f) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Payment of Exercise Price</u>. The Exercise Price times the number of the shares to be purchased upon exercise of an Option granted under the Plan shall be paid in full at the time of exercise. The Committee will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Committee will determine the acceptable form of consideration at the time of grant. Such consideration for both types of Options may consist entirely of: (i) cash; (ii) check; (iii) promissory note, to the extent permitted by Applicable Laws, (iv) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided that accepting such Shares will not result in any adverse accounting consequences to the Corporation, as the Committee determines in its sole discretion; (v) consideration received by the Corporation under a broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the Corporation in connection with the Plan; (vi) by net exercise; (vii) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or (viii) any combination of the foregoing methods of payment.

Unless the Committee determines otherwise at the time of a grant of an Option, all Options shall be exercisable by the Optionee on a "cashless" basis whereby such Optionee may, in lieu of paying the Exercise Price in cash, elect to pay the Exercise Price by surrendering a portion of the Options being exercised in exchange for Shares in accordance with the following formula:

---

| | | | |
|:---|:---|:---|:---|
| X | = | (Y(A-B))/A |  |
| Where, |  |  |  |
| X |  | = | The number of Shares to be issued to Optionee; |
| Y |  | = | The number of Shares for which the Option is being exercised; |
| A |  | = | The Fair Market Value of one Share at the time of exercise; and |
| B |  | = | The Exercise Price |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) <u>Effect of Termination of Service</u>**. Subject to paragraph (k) below regarding Special Rules for Incentive Stock Options, the following provisions shall govern the exercise of any Options granted to an Optionee that are vested and outstanding at the time Optionee's Service ceases:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Termination of Employment for Reasons Other than Death, Disability or a Termination for Cause</u>. Should Optionee's Service with the Corporation cease for any reason other than death, Disability or a termination for Cause (as determined by the Committee), then each Option shall remain exercisable until the close of business on the earlier of (i) 3 months following the date Optionee's Service ceased or (ii) the expiration date of the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Termination of Employment Due to Death or Disability</u>. Should Optionee's Service cease due to death or Disability, then each Option shall remain exercisable until the close of business on the earlier of (i) the 12 month anniversary of the date Optionee's Service ceased, or (ii) the expiration date of the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Termination for Cause.</u> Should Optionee's Service be terminated for Cause while his Option remains outstanding, each outstanding Option granted to Optionee (whether vested or unvested) shall terminate immediately and Optionee shall forfeit all rights with respect to such Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) <u>Limited Transferability of Options</u>**. An Option shall be exercisable only by the Optionee during his lifetime and shall not be assignable or transferable other than by will or by the laws of inheritance following Optionee's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) <u>Acceleration of Exercise Vesting</u>**. Notwithstanding anything to the contrary in the Plan, the Committee, in its discretion, may allow the exercise in whole or in part, at any time after the Date of Grant, any Option held by an Optionee, which Option has not previously become exercisable. In the event of a Change of Control of the Corporation, any unvested equity award shall become 100% vested and exercisable on the date of the Change of Control. Options shall also become 100% vested in the event Optionee dies or becomes Disabled while employed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) <u>Modification, Extension, Cancellation and Regrant</u>**. Within the limitations of the Plan and after taking into account any possible adverse tax or accounting consequences, the Committee may modify, or extend outstanding Options or may accept the cancellation of outstanding Options (whether granted by the Corporation or another issuer) in return for the grant of new Options for the same or a different number of shares and at the same or a different Exercise Price. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, impair the Optionee's rights or increase the Optionee's obligations under such Option or cause a violation of Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(j) <u>Term of Option</u>**. No Option shall have a term in excess of ten (10) years measured from the date that the Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(k) <u>Special Rules For Incentive Stock Options ("ISOs")</u>**. In addition to the provisions of this Section 6, the terms specified below shall be applicable to all Incentive Stock Options granted under the Plan. Except as modified by the provisions of this paragraph (k), all of the provisions of the Plan shall be applicable to Incentive Stock Options. Options that are specifically designated as Nonstatutory Options are not subject to the terms of this paragraph (k).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Eligibility</u>. Incentive Options may only be granted to Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Dollar Limitation</u>. The aggregate Fair Market Value of the Ordinary Shares (determined as of the Date of Grant) for which one or more Incentive Options granted to any Employee pursuant to the Plan may for the first time become exercisable as Incentive Options during any one calendar year shall not exceed $100,000. To the extent that an Optionee's Options exceed that limit, they will be treated as Nonstatutory Options (but all of the other provisions of the Option shall remain applicable), with the first Options that were awarded to Optionee to be treated as Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Restrictions on Sale of Shares</u>. Shares issued pursuant to the exercise of an Incentive Stock Option may not be sold by the Employee until the expiration of 12 months after exercise and 24 months from the Date of Grant. Shares that do not satisfy these restrictions shall be treated as a grant of Nonstatutory Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) <u>Special Rules for Incentive Stock Options Granted to 10% Shareholder</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Exercise Price</u>. If any Employee to whom an Incentive Stock Option is granted is a 10% Shareholder, the Exercise Price of the Incentive Stock Option must be at least 110% of the Fair Market Value of the Corporation's Ordinary Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Term of Option</u>. If any Employee to whom an Incentive Stock Option is granted is a 10% Shareholder, then the Option term shall not exceed five years measured from the date the Incentive Stock Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Definition of 10% Shareholder</u>. For purposes of the Plan, an Employee is deemed to be a "10% Shareholder" if he owns more than 10% of the Corporation or any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) <u>Special Rules for Exercise of Incentive Stock Options Following Termination of Employment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Death or Disability</u>. In order to preserve tax treatment as an Incentive Stock Option, Options granted to an Optionee who dies or becomes Disabled while employed must be exercised by the Optionee or his executor or beneficiary no later than (i) 12 months following the date of death or Disability, or (ii) the expiration date of the Incentive Stock Option, if earlier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Termination For Reason Other Than Death or Disability</u>. In order to preserve tax treatment as an Incentive Stock Option, an Optionee must exercise any vested and outstanding Incentive Stock Options no later than: (i) three (3) months following the date the Optionee terminates employment for any reason other than death or Disability; or (ii) the expiration date of the Incentive Stock Option if earlier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) <u>Miscellaneous</u>. With respect to Incentive Stock Options, if this Plan does not contain any provision required to be included herein under Section 422 of the Code, such provision shall be deemed to be incorporated herein with the same force and effect as if such provision had been set out at length herein. To the extent any Option that is intended to qualify as an Incentive Stock Option cannot so qualify, such Option, to that extent, shall be deemed to be a Nonstatutory Stock Option for all purposes of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(l) <u>Shareholder Rights</u>**. Until the Shares covered by an Option are issued (as evidenced by the appropriate entry on the books of the Corporation or of a duly authorized transfer agent of the Corporation), no right to vote or receive dividends or any other rights as a shareholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Corporation will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan.

**SECTION 7. Restricted Shares.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Grant of Restricted Shares</u>**. The Committee may cause the Corporation to issue shares of Restricted Shares under the Plan, subject to such restrictions, conditions and other terms as the Committee may determine in addition to those set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Establishment of Performance Criteria and Restrictions</u>**. Restricted Share Awards will be subject to time vesting under paragraph (f) of this Section 7. The Committee may, in its sole discretion, at the time a grant is made, prescribe restrictions in addition to or other than time vesting, including the satisfaction of corporate or individual performance objectives, which shall be applicable to all or any portion of the Restricted Shares. Corporate or individual performance criteria include, but are not limited to, designated levels or changes in total shareholder return, net income, total asset return, or such other financial measures or performance criteria as the Committee may select. Such restrictions shall be set forth in the Participant's Restricted Share Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Share Certificates and Transfer Restrictions</u>**. Restricted Shares awarded to a Participant may be held under the Participant's name in a book entry account maintained by or on behalf of the Corporation. Upon vesting of the Restricted Shares, the Corporation will establish procedures regarding the delivery of share certificates or the transfer of shares in book entry form. None of the Restricted Shares may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of prior to the date on which such Restricted Shares vest in accordance with the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Voting and Dividend Rights</u>**. Except as otherwise determined by the Committee either at the time Restricted Shares are awarded or at any time thereafter prior to the lapse of the restrictions, holders of Restricted Shares shall not have the right to vote such shares or the right to receive any dividends with respect to such shares, until such shares are vested. All distributions, if any, received by the Participant with respect to Restricted Shares as a result of any stock split, stock distributions, combination of shares, or other similar transaction shall be subject to the restrictions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Award Agreements</u>**. The terms of the Restricted Shares granted under the Plan shall be as set forth in an Award Agreement in such form as the Committee shall from time to time determine. Each Award Agreement shall comply with and be subject to the terms and conditions of the Plan and such other terms and conditions as the Committee may deem appropriate. No Person shall have any rights under the Plan unless and until the Corporation and the Participant have executed an Award Agreement setting forth the grant and the terms and conditions of the Restricted Shares. The terms of the Plan shall govern all Restricted Shares granted under the Plan. In the event that any provision of an Award Agreement shall conflict with any term in the Plan as constituted on the Date of Grant, the term in the Plan shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) <u>Time Vesting</u>**. Except as otherwise provided in a Participant's Award Agreement, the Restricted Shares granted under the Plan will vest in accordance with the following schedule:

---

| | |
|:---|:---|
| **Completed Years of Employment/ <br> Service From Date of Grant** | **Cumulative<br> Vesting Percentage** |
| 1 | 25% |
| 2 | 50% |
| 3 | 75% |
| 4 Years or more | 100% |

---

In the event a Participant terminates employment prior to 100% vesting, any Shares of Restricted Shares which are not vested shall be forfeited immediately and permanently. However, a Participant shall be 100% vested in his Restricted Shares in the event he terminates employment by reason of death or Disability. A Participant shall also be 100% vested in his Restricted Shares on the date of a Change of Control. If a Participant's Service is terminated for Cause as determined in the sole discretion of the Committee, his or her Restricted Share Award (whether vested or unvested) shall be forfeited immediately. The Committee may approve Restricted Share grants that provide alternate vesting schedules. Fractional shares shall be rounded down.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) <u>Acceleration of Vesting</u>.** Notwithstanding anything to the contrary in the Plan, the Board of Directors, in its discretion, may accelerate, in whole or in part, the vesting schedule applicable to a grant of Restricted Shares.

**SECTION 8. Restricted Share Units**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Grant</u>**. Restricted Share Units may be granted at any time and from time to time as determined by the Committee. After the Committee determines that it will grant Restricted Share Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions (if any) related to the grant, including the number of Restricted Share Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Vesting Criteria and Other Terms</u>**. The Committee will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Share Units that will be paid out to the Participant. The Committee may set vesting criteria based upon the achievement of Corporationwide, business unit, or individual goals (including, but not limited to, continued employment), or any other basis (including the passage of time) determined by the Committee in its discretion. Unless a different vesting schedule is set forth in the Award Agreement, the following time vesting schedule will apply:

---

| | |
|:---|:---|
| **Completed Years of Employment/ <br> Service From Date of Grant** | **Cumulative <br> Vesting Percentage** |
| 1 | 25% |
| 2 | 50% |
| 3 | 75% |
| 4 Years or more | 100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Earning of Restricted Share Units</u>**. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined by the Committee and as set forth in the Award Agreement on the Date of Grant. Notwithstanding the foregoing, at any time after the grant of Restricted Share Units, the Committee, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout as long as such reduction or waiver does not violate Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Dividend Equivalents</u>**. The Committee may, in its sole discretion, award dividend equivalents in connection with the grant of Restricted Share Units that may be settled in cash, in Shares of equivalent value, or in some combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Form and Timing of Payment</u>**. Payment of earned Restricted Share Units will be made upon the date(s) determined by the Committee and set forth in the Award Agreement. The Committee, in its sole discretion, may settle earned Restricted Share Units in cash, Shares, or a combination of both. Timing and payment of Restricted Share Units will be subject to and structured to comply with the rules of Code Section 409A and the treasury regulations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) <u>Cancellation</u>**. On the date set forth in the Award Agreement, all unearned Restricted Share Units will be forfeited to the Corporation.

**SECTION 9. Share Appreciation Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Grant</u>**. A Participant may be granted one or more Share Appreciation Rights under the Plan and such SARs shall be subject to such terms and conditions, consistent with the other provisions of the Plan, as shall be determined by the Committee in its sole discretion. A SAR may relate to a particular Stock Option and may be granted simultaneously with or subsequent to the Stock Option to which it relates. Except to the extent otherwise modified in the grant, (i) SARs not related to a Stock Option shall be granted subject to the same terms and conditions applicable to Stock Options as set forth in Section 6, and (ii) all SARs related to Stock Options granted under the Plan shall be granted subject to the same restrictions and conditions and shall have the same vesting, exercisability, forfeiture and termination provisions as the Stock Options to which they relate. SARs may be subject to additional restrictions and conditions. The per-share base price for exercise or settlement of SARs shall be determined by the Committee, but shall be a price that is equal to or greater than the Fair Market Value of such shares. Other than as adjusted pursuant to Section 13, the base price of SARs may not be reduced without the approval of the majority of the members of the Committee (including canceling previously awarded SARs and regranting them with a lower base price).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Exercise and Payment</u>**. To the extent a SAR relates to a Stock Option, the SAR may be exercised only when the related Stock Option could be exercised and only when the Fair Market Value of the shares subject to the Stock Option exceed the exercise price of the Stock Option. When a Participant exercises such SARs, the Stock Options related to such SARs shall automatically be cancelled with respect to an equal number of underlying shares. Unless the Committee decides otherwise (in its sole discretion), SARs shall only be paid in cash or in Ordinary Shares. For purposes of determining the number of shares available under the Plan, each Share Appreciation Right shall count as one Ordinary Share, without regard to the number of shares, if any, that are issued upon the exercise of the Share Appreciation Right and upon such payment. Shares issuable in connection with a SAR are subject to the transfer restrictions under the Plan.

**SECTION 10. Performance Units and Performance Shares.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Grant of Performance Units/Shares</u>**. Subject to the terms of the Plan, Performance Units and Performance Shares may be granted to eligible Employees, Consultants or Outside Directors at any time and from time to time, as shall be determined by the Committee, in its sole discretion. The Committee shall have complete discretion in determining the number of Performance Units and Performance Shares granted to each Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Value of Performance Units/Shares</u>**. Each Performance Unit shall have an initial value that is established by the Committee at the time of the grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. The Committee shall set performance goals in its discretion which, depending on the extent to which they are met, will determine the number and/or value of Performance Units/Shares that will be paid out to the Participants. The time period during which the performance goals must be met shall be called a "Performance Period."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Performance Objectives and Other Terms</u>**. The Committee will set Performance Goals or other vesting provisions (including, without limitation, continued status as an Employee, Consultant or Outside Director) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to an Employee, Consultant or Outside Director. The time period during which the performance objectives or other vesting provisions must be met will be called the "Performance Period." Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will specify the Performance Period, and such other terms and conditions as the Committee, in its sole discretion, will determine. The Committee may set performance objectives based upon the achievement of Corporation-wide, divisional, or individual goals, applicable federal or state securities laws, or any other basis determined by the Committee in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Measurement of Performance Goals</u>**. Performance Goals shall be established by the Committee on the basis of targets to be attained ("Performance Targets") with respect to one or more measures of business or financial performance (each, a "Performance Measure"), subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) <u>Performance Measures</u>**. For each Performance Period, the Committee shall establish and set forth in writing the Performance Measures, if any, and any particulars, components and adjustments relating thereto, applicable to each Participant. The Performance Measures, if any, will be objectively measurable and will be based upon the achievement of a specified percentage or level in one or more objectively defined and non-discretionary factors preestablished by the Committee. Performance Measures may be one or more of the following, as determined by the Committee: (i) sales or non-sales revenue; (ii) return on revenues; (iii) operating income; (iv) income or earnings including operating income; (v) net income; (vi) pre-tax income or after-tax income; (vii) net income excluding amortization of intangible assets, depreciation and impairment of goodwill and intangible assets and/or excluding charges attributable to the adoption of new accounting pronouncements; (viii) raising of financing or fundraising; (ix) project financing; (x) revenue backlog; (xi) power purchase agreement backlog; (xii) gross margin; (xiii) operating margin or profit margin; (xiv) capital expenditures, cost targets, reductions and savings and expense management; (xv) return on assets (gross or net), return on investment, return on capital, or return on shareholder equity; (xvi) cash flow, free cash flow, cash flow return on investment (discounted or otherwise), net cash provided by operations, or cash flow in excess of cost of capital; (xvii) performance warranty and/or guarantee claims; (xviii) stock price or total shareholder return; (xix) earnings or book value per share (basic or diluted); (xx) economic value created; (xxi) pre-tax profit or after-tax profit; (xxii) strategic business criteria, consisting of one or more objectives based on meeting specified market penetration or market share, geographic business expansion, objective customer satisfaction or information technology goals; (xxiii) objective goals relating to divestitures, joint ventures, mergers, acquisitions and similar transactions; (xxiv) construction projects consisting of one or more objectives based upon meeting project completion timing milestones, project budget, site acquisition, site development, or site equipment functionality; (xxv) objective goals relating to staff management, results from staff attitude and/or opinion surveys, staff satisfaction scores, staff safety, staff accident and/or injury rates, headcount, performance management, completion of critical staff training initiatives; (xxvi) objective goals relating to projects, including project completion timing milestones, project budget; (xxvii) key regulatory objectives; and (xxviii) enterprise resource planning.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii) <u>Committee Discretion on Performance Measures</u>**. As determined in the discretion of the Committee, the Performance Measures for any Performance Period may (a) differ from Participant to Participant and from Award to Award, (b) be based on the performance of the Corporation as a whole or the performance of a specific Participant or one or more Subsidiaries, divisions, departments, regions, stores, segments, products, functions or business units of the Corporation, (c) be measured on a per share, per capita, per unit, per square foot, per employee, per branch basis, and/or other objective basis (d) be measured on a pre-tax or after-tax basis, and (e) be measured on an absolute basis or in relative terms (including, but not limited to, the passage of time and/or against other companies, financial metrics and/or an index). Without limiting the foregoing, the Committee shall adjust any performance criteria, Performance Measures or other feature of an Award that relates to or is wholly or partially based on the number of, or the value of, any stock of the Corporation, to reflect any stock dividend or split, repurchase, recapitalization, combination, or exchange of shares or other similar changes in such stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Earning of Performance Units/Shares</u>**. After the applicable Performance Period has ended, the holder of Performance Units/Shares shall be entitled to receive a payout of the number of Performance Unit/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved. Notwithstanding the preceding sentence, after the grant of a Performance Unit/Share, and subject to restrictions under Applicable Laws such as Code Section 409A, the Committee, in its sole discretion, may waive the achievement of any performance goals for such Performance Unit/Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) <u>Form and Timing of Payment of Performance Units/Shares</u>**. Payment of earned Performance Units/Shares shall be made in a single lump sum, within 90 calendar days following the close of the applicable Performance Period. The Committee, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate fair market value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in combination thereof. Prior to the beginning of each Performance Period, Participants may, if so permitted by the Corporation, elect to defer the receipt of any Performance Unit/Share payout upon such terms as the Committee shall determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) <u>Cancellation of Performance Units/Shares</u>**. Subject to the applicable Award Agreement, upon the earlier of (a) the Participant's termination of employment, or (b) the date set forth in the Award Agreement, all remaining Performance Units/Shares shall be forfeited by the Participant to the Corporation, the Shares subject thereto shall again be available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) <u>Non-transferability</u>**. Performance Units/Shares may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution. Further a Participant's rights under the Plan shall be exercisable during the Participant's lifetime only by the Participant or the Participant's legal representative.

**SECTION 11. Other Share-Based Awards.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Other Stock-Based Awards</u>***.* The Committee may grant types of equity-based or equity-related Awards not otherwise described by the terms of the Plan (including the grant or offer for sale of unrestricted Shares), in amounts and subject to terms and conditions, determined by the Committee (including, if applicable, the attainment of any performance goals, as set forth in the applicable Award Agreement). Other Share-Based Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares. The terms and conditions of the Awards shall be consistent with the Plan and set forth in the Award Agreement and need not be uniform among all the Awards or all Participants receiving the Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Value of Awards</u>**. Each Other Share-Based Award shall be expressed in terms of Ordinary Shares or units based on Ordinary Shares, as determined by the Committee. The Committee may establish performance goals and/or criteria in its discretion, and any such performance goals and/or criteria shall be set forth in the applicable Award Agreement. If the Committee exercises its discretion to establish performance goals and/or criteria, the number and/or value of Other Share-Based Awards that will be paid out to the Participant will depend on the extent to which the performance goals and/or criteria are met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Payment of Awards</u>**. Payment, if any, with respect to an Other Share-Based Award shall be made in accordance with the terms of the Award, as set forth in the Award Agreement, in cash, Common Shares or a combination of cash and Common Shares, as the Committee determines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Vesting</u>**. The Committee shall determine the extent to which the Participant shall have the right to receive Other Share-Based Awards following the Participant's termination of employment or service (including by reason of the Participant's death, disability (as determined by the Committee), or termination for or without Cause or for or without Good Reason). These provisions shall be determined in the sole discretion of the Committee and these provisions may be included in the applicable Award Agreement, but need not be uniform among all Other ShareBased Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for the termination of employment or service.

**SECTION 12. Tax Withholding.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Tax Withholding for Options</u>**. The Corporation shall be entitled, if the Committee deems it necessary or desirable, to withhold (or secure payment in cash in United States dollars from an Optionee or beneficiary in lieu of withholding) the amount of any withholding or other tax required by law to be withheld or paid by the Corporation with respect to any amount payable and/or Ordinary Shares issuable under such Optionee's Option, and the Corporation may defer payment or issuance of the Ordinary Shares upon such Optionee's exercise of an Option unless indemnified to its satisfaction against any liability for such tax. The amount of any such withholding shall be determined by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Tax Withholding for Restricted Shares and Other Awards</u>**. When a Participant incurs tax liability in connection with the vesting, lapse of a restriction or distribution of Restricted Shares or other Award, and the Participant is obligated to pay an amount required to be withheld under applicable tax laws, the Committee shall establish procedures to satisfy the withholding tax obligation. The Participant also has the option to make payment in cash in United States dollars pursuant to procedures established by the Corporation. The amount of any such withholding shall be determined by the Corporation.

**SECTION 13. Adjustment of Shares and Representations.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>General</u>**. Should any change be made to the Ordinary Shares by reason of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Ordinary Shares as a class without the Corporation's receipt of consideration, the Committee shall make appropriate adjustments to (i) the maximum number and/or class of securities issuable pursuant to the Plan, (ii) the number and/or class of securities and the Exercise Price per share in effect for each outstanding Option in order to prevent the dilution or enlargement of benefits, (iii) the number of shares of Restricted Shares granted; or (iv) the number of Performance Shares awarded, if applicable. As a condition to the exercise of an Award, the Corporation may require the person exercising such Option to make such representations and warranties at the time of any such exercise as the Corporation may at that time determine, including without limitation, representations and warranties that (i) the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares in violation of applicable federal or state securities laws, and (ii) such person is knowledgeable and experienced in financial and business matters and is capable of evaluating the merits and the risks associated with purchasing the Shares.

The inability of the Corporation to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Corporation's counsel to be necessary to the lawful issuance and sale of any Shares under this Plan, shall relieve the Corporation of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Mergers and Consolidations</u>**. In the event that the Corporation is a party to a Change of Control, outstanding Awards that are not yet vested shall become 100% vested at the closing of the Change of Control.

Each Option that is assumed or otherwise continued in effect in connection with a Change of Control shall be appropriately adjusted, immediately after such Change of Control, to apply to the number and class of securities which would have been issuable to the Optionee in connection with the consummation of such Change of Control, had the Option been exercised immediately prior to such Change of Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Reservation of Rights</u>**. Except as provided in this Section 13, a Participant shall have no Shareholder rights by reason of (i) any subdivision or consolidation of shares of stock of any class, or (ii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Corporation of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Corporation to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets.

**SECTION 14. Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Regulatory Approvals</u>**. The implementation of the Plan, the granting of any Options, Restricted Shares or Performance Unit/Performance Share Awards under the Plan, and the issuance of any Ordinary Shares upon the exercise of any Option, lapse of restrictions on Restricted Shares, or payout of Performance Share Award shall be subject to the Corporation's procurement of all approvals and permits required by regulatory authorities, if any, including applicable securities laws having jurisdiction over the Plan, the Options or Restricted Shares granted, and the Ordinary Shares issued pursuant to it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Strict Construction</u>**. No rule of strict construction shall be implied against the Committee, the Corporation or Subsidiary or any other person in the interpretation of any of the terms of the Plan, any Award granted under the Plan or any rule or procedure established by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Choice of Law</u>**. All determinations made and actions taken pursuant to the Plan shall be governed by the internal laws of the State of New York and construed in accordance therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) <u>Compliance With Code Section 409A</u>**. Awards will be designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Code Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Code Section 409A (or an exemption therefrom) and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Committee. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A, the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A (or an exemption therefrom), such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. In no event will the Corporation be responsible for or reimburse a Participant for any taxes or other penalties incurred as a result of applicable of Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) <u>Date of Grant</u>**. The date of grant of an Award will be, for all purposes, the date on which the Committee makes the determination granting such Award, or such other later date as is determined by the Committee. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) <u>Conditions Upon Issuance of Shares</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Legal Compliance</u>. Shares will not be issued pursuant
to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares will comply with Applicable
Laws and will be further subject to the approval of counsel for the Corporation with respect to such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Investment Representations</u>. As a condition to the exercise
of an Award, the Corporation may require the person exercising such Award to represent and warrant at the time of any such exercise that
the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion
of counsel for the Corporation, such a representation is required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) <u>Shareholder Approval</u>**. The Plan will be subject to approval by the shareholders of the Corporation within twelve (12) months after the date the Plan is adopted by the Board. Such shareholder approval will be obtained in the manner and to the degree required under Applicable Laws.

**SECTION 15. No Employment or Service Retention Rights.**

Nothing in the Plan or in any Award granted under the Plan shall confer upon the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Subsidiary employing or retaining the Participant) or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her Service at any time and for any reason, with or without cause.

**SECTION 16. Duration and Amendments.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) <u>Term of the Plan</u>**. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board of Directors, subject to the approval of the Corporation's shareholders. In the event that the shareholders fail to approve the Plan within 12 months after its adoption by the Board of Directors, any grants of Awards that have already occurred for which shareholder approval is a prerequisite for the granting of such Awards, shall be rescinded, and no such additional grants or awards shall be made thereafter under the Plan. The Plan shall terminate automatically ten (10) years after its adoption only with respect to the Corporation's ability to grant ISOs under the Plan and may be terminated at any date by the Board of Directors pursuant to paragraph (b) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) <u>Right to Amend or Terminate the Plan</u>**. The Committee may amend, suspend or terminate the Plan at any time and for any reason; provided, however, that certain amendments, including amendments that increase the number of Ordinary Shares available for issuance under the Plan (except as provided in Section 13) or change the class of persons who are eligible for the grant of ISOs, shall be subject to the approval of the Corporation's shareholders. The Corporation will obtain shareholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) <u>Effect of Amendment or Termination</u>**. No amendment, alteration, suspension or termination of the Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Committee, which agreement must be in writing and signed by the Participant and the Corporation. No Ordinary Shares shall be issued or sold under the Plan after the termination thereof, except upon exercise of an Option granted prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any shares of Restricted Shares or Performance Shares previously issued or any Option previously granted under the Plan.

**SECTION 17. Execution.**

To record the adoption of the Plan by the Board of Directors, the Corporation has caused its authorized officer to execute the same.

MAINZ BIOMED N.V.

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| | |
|:---|:---|
| By: | /s/ William Caragol |
| Title: | CFO |
| Date: | June 2, 2025 |

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## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

To the Board of Directors of

Mainz Biomed N.V.

We consent to the incorporation by reference in this Registration Statement on Form S-8 with the Securities & Exchange Commission, of Mainz Biomed N.V. (the "Company") our report dated March 31, 2025 relating to our audit of the consolidated statements of financial position as of December 31, 2024 and 2023 and consolidated statements of loss and comprehensive loss, stockholders' equity and cash flows for each of the years in the three-year period ended December 31, 2024.

We also consent to the reference to us under the caption "Experts" in the Registration Statement.

**/s/ Reliant CPA PC** 

Certified Public Accountants

Newport Beach, California

February 19, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**MAINZ BIOMED N.V.**

**Table 1: Newly Registered Securities**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Ordinary Shares, nominal value EUR0.01 per share | (1) | Other | 1467021 | $0.68 | $997575.00 | 0.0001381 | $138.00 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $997575.00 |  | 138.00 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $138.00 |

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**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) This Registration Statement on Form S-8 (this "Registration Statement") covers ordinary shares, nominal value €0.01per share ("Ordinary Shares"), of Mainz Biomed N.V. (the "Company"") (i) authorized for issuance under the Company's 2025 Omnibus Incentive Plan (the "Plan") and (ii) pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), any additional Ordinary Shares that may become issuable under the Plan by reason of any stock dividend, stock split or other similar transaction. Amount of Registration Fee estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h) under the Securities Act, solely for the purpose of computing the registration fee, based on the average of the high and low prices reported for a share of Common Stock on the New York Stock Exchange on February 17, 2026 (rounded up to the nearest cent).