# EDGAR Filing Document

**Accession Number:** 0000803578
**File Stem:** 0001213900-25-111707
**Filing Date:** 2025-11
**Character Count:** 253728
**Document Hash:** 7903410942f7cc098b39ca017b0f5371
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-111707.hdr.sgml**: 20251118

**ACCESSION NUMBER**: 0001213900-25-111707

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 27

**FILED AS OF DATE**: 20251118

**DATE AS OF CHANGE**: 20251117

**EFFECTIVENESS DATE**: 20251118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIREFLY NEUROSCIENCE, INC.
- **CENTRAL INDEX KEY:** 0000803578
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 541167364
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-291609
- **FILM NUMBER:** 251492596

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 MILITARY ROAD
- **CITY:** KENMORE
- **STATE:** NY
- **ZIP:** 14217
- **BUSINESS PHONE:** 888-237-6412

**MAIL ADDRESS:**
- **STREET 1:** 1100 MILITARY ROAD
- **CITY:** KENMORE
- **STATE:** NY
- **ZIP:** 14217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WAVEDANCER, INC.
- **DATE OF NAME CHANGE:** 20211215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INFORMATION ANALYSIS INC
- **DATE OF NAME CHANGE:** 19920703

**As filed with the Securities and Exchange Commission on November 18, 2025**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER<br> THE SECURITIES ACT OF 1933**

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| |
|:---|
| &nbsp;&nbsp;**FIREFLY NEUROSCIENCE, INC.** |
| &nbsp;&nbsp;(Exact name of registrant as specified in its charter) |

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| | |
|:---|:---|
| &nbsp;&nbsp;**Delaware** | &nbsp;&nbsp;**54-1167364** |
| &nbsp;&nbsp;(State or other jurisdiction of<br> incorporation or organization) | &nbsp;&nbsp;(I.R.S. Employer<br> Identification No.) |

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| | |
|:---|:---|
| &nbsp;&nbsp;**1100 Military Road, Kenmore, NY** | &nbsp;&nbsp;**14217** |
| &nbsp;&nbsp;(Address of Principal Executive Offices) | &nbsp;&nbsp;(Zip Code) |

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| |
|:---|
| &nbsp;&nbsp;**Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan,**<br> **as amended** |
| &nbsp;&nbsp;(Full title of the plan) |

---

**Greg Lipschitz, Chief Executive Officer** 

**1100 Military Road**

**Kenmore, NY 14217**

**(888) 237-6412**

&nbsp;&nbsp;(Name, address and telephone number, including area code, of agent for service)

*Copies to:* 

**Louis A. Bevilacqua, Esq.**

**Bevilacqua PLLC**

**1050 Connecticut Ave., N.W., Suite 500**

**Washington, DC 20036**

**(202) 869-0888**

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** 

Pursuant to General Instruction E to Form S-8 under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 (this "Registration Statement") is filed by Firefly Neuroscience, Inc., a Delaware corporation (the "Registrant"), to register 317,820 additional shares of common stock, par value $0.0001 per share (the "common stock"), available for issuance pursuant to Amendment No. 1 (the "Amendment") to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (as amended by Amendment No. 1, the "Plan"). On October 3, 2025 and on October 15, 2025, the Registrant filed with the Securities and Exchange Commission (the "SEC") the Registrant's definitive proxy materials for an annual stockholders' meeting held on October 27, 2025 (the "Annual Stockholders' Meeting") for the purpose of, among other things, approving a proposal to adopt the Amendment. The Amendment, as proposed, increases the number of shares of common stock reserved for issuance under the Plan by 317,820 shares. The proposal to adopt the Amendment was approved by the Registrant's stockholders on October 27, 2025 at the Annual Stockholders' Meeting. This Registration Statement registers the 317,820 additional shares of common stock available for issuance under the Plan.

The shares of common stock registered pursuant to this Registration Statement are of the same class of securities as the 154,750 shares of common stock registered for issuance under the Plan and 678,583 shares of common stock issued under the Plan and registered for reoffer and resale pursuant to the currently effective Registration Statement on Form S-8 (Registration No. 333-287455) filed on May 21, 2025 (the "Prior Registration Statements"). The contents of the Prior Registration Statements are hereby incorporated by reference pursuant to General Instruction E to Form S-8, except to the extent supplemented, amended, modified, or superseded by the information set forth in this Registration Statement.

This Registration Statement also contains a revised "reoffer prospectus" prepared in accordance with Part I of Form S-3 (in accordance with General Instruction C to Form S-8), which modifies and supersedes the Prior Registration Statements. This reoffer prospectus may be used for reoffers and resales on a continuous or delayed basis of securities that may be deemed "control securities" or "restricted securities" within the meaning of the Securities Act, and the rules and regulations promulgated thereunder, that are held by an executive officer of the Registrant. As specified in General Instruction C to Form S-8, the amount of securities to be reoffered or resold by means of the reoffer prospectus, by such person, and any other person with whom such person is acting in concert for the purpose of selling securities of the Registrant, may not exceed, during any three-month period, the amount specified in Rule 144(e) under the Securities Act.

**PART I**

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

The documents containing the information specified in this Part I will be sent or given to the persons participating in the Amended Plan, as specified by Rule 428(b)(1) under the Securities Act. In accordance with the instructions to Part I of Form S-8, such documents need not be filed with the Securities and Exchange Commission (the "SEC") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**REOFFER PROSPECTUS**

![](image_001.jpg)

**FIREFLY NEUROSCIENCE, INC.**

1,048,963 Shares of Common Stock

This reoffer prospectus relates to 1,048,963 shares (the "Shares") of common stock, par value $0.0001 per share (the "common stock"), of Firefly Neuroscience, Inc., a Delaware corporation (the "Registrant" or the "Company"), subject to the satisfaction of any conditions to vesting of the Shares pursuant to the terms of the relevant award agreements, which may be offered from time to time by certain stockholders of the Registrant who are also employees, executive officers or directors of the Registrant (the "Selling Stockholders") for the Selling Stockholders' own accounts. We will not receive any of the proceeds from the sale of Shares by the Selling Stockholders made hereunder. The Shares were acquired by the Selling Stockholders pursuant to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (as amended, the "Plan").

The Selling Stockholders may sell the Shares in a number of different ways and at varying prices, including sales in the open market, sales in negotiated transactions, and sales by a combination of these methods. The Selling Stockholders may sell any, all, or none of the Shares and we do not know when or in what amount the Selling Stockholders may sell the Shares hereunder on or after the date of this reoffer prospectus. The price at which any of the Shares may be sold, and the commissions, if any, paid in connection with any such sale, are unknown and may vary from transaction to transaction. The Shares may be sold at the market price of the common stock at the time of a sale, at prices relating to the market price over a period of time, or at prices negotiated with the buyers of shares. The Shares may be sold through underwriters or dealers which the Selling Stockholders may select. If underwriters or dealers are used to sell the Shares, we will name them and describe their compensation in a prospectus supplement. We provide more information about how the Selling Stockholders may sell the Shares in the section "*Plan of Distribution*." The Selling Stockholders will bear all sales commissions and similar expenses. Any other expenses incurred by us in connection with the registration and offering that are not borne by the Selling Stockholders will be borne by us.

Our shares of common stock are listed on the Nasdaq Capital Market ("Nasdaq") under the symbol "AIFF." On November 13, 2025, the last reported sale price of our common stock on Nasdaq was $1.60 per share.

The amount of securities to be offered or resold under this reoffer prospectus by the Selling Stockholders, and any other person with whom the Selling Stockholders are acting in concert for the purpose of selling our securities, may not exceed, during any three-month period, the amount specified in Rule 144(e) under the Securities Act of 1933, as amended (the "Securities Act").

**Investing in our securities is highly speculative and involves a high degree of risk. See "*Risk Factors*" beginning on page 2 for a discussion of information that should be considered in connection with an investment in our securities.**

The SEC may take the view that, under certain circumstances, the Selling Stockholders and any broker-dealers or agents that participate with the Selling Stockholders 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 "*Plan of Distribution*".

**Neither the U.S. Securities and Exchange Commission nor any state or provincial securities commission has approved or disapproved of these securities or determined if this reoffe**r **prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

**The date of this reoffer prospectus is November 18, 2025.**

**<u>**TABLE OF CONTENTS**</u>**

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|:---|:---|
|  | **Page** |
| [About This Reoffer Prospectus](#a_001) | ii |
| [Our Company](#a_002) | 1 |
| [Risk Factors](#a_003) | 2 |
| [Cautionary Statement Regarding Forward-Looking Statements](#a_004) | 3 |
| [Use of Proceeds](#a_005) | 5 |
| [Selling Stockholders](#a_006) | 5 |
| [Plan of Distribution](#a_007) | 7 |
| [Legal Matters](#a_008) | 8 |
| [Experts](#a_009) | 8 |
| [Information Incorporated By Reference](#a_010) | 9 |
| [Where You Can Find More Information](#a_011) | 9 |

---

i

**ABOUT THIS REOFFER PROSPECTUS**

You should rely only on the information contained in this reoffer prospectus or in any accompanying prospectus supplement by us or on our behalf. We have not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume the information appearing in this reoffer prospectus is accurate only as of the date on the front cover of this reoffer prospectus, regardless of the time of delivery of this reoffer prospectus or of any sale of the Shares. Our business, results of operations, financial condition, and prospects may have changed since that date.

In this reoffer prospectus, unless the context indicates otherwise, "we," "us," "our," "Firefly," the "Company," the "Registrant," "our company" and similar references refer to Firefly Neuroscience, Inc., a Delaware corporation.

ii

**Our Company**

We are an Artificial Intelligence ("AI") technology company developing innovative neuroscientific solutions with goals to improve brain health outcomes for patients with mental illnesses and neurological disorders. Our FDA-510(k) cleared BNA™, or Brain Network Analytics, is an advanced neurophysiological assessment tool that uses AI and machine learning to analyze EEG data recorded during rest and cognitive activity. In addition, the Evox System is FDA-510(k) cleared, and is intended for the acquisition, display, and storage, of electrical activity of a patient's brain including electroencephalograph (EEG) and event-related potentials (ERP) obtained by placing two or more electrodes on the head to aid in diagnosis. Our products may enhance neurological assessments by providing objective, data-driven insights that allow for the early and longitudinal detection of neurophysiological deviations. These insights into brainwave patterns underlying cognitive function may help in tailoring personalized treatment plans and improving patient outcomes more effectively than traditional EEG analysis.

As of the date of this reoffer prospectus, our products are in market. We believe there is further potential for such commercialization, both with respect to pharmaceutical companies in their drug research and clinical trial activities, as well as medical practitioners in their clinics. In concert with the further commercialization of our products, we are collaborating with neuroscience drug development companies to support their clinical strategies. We plan to generate revenue through the use of our products by United States healthcare professionals and through collaborations with pharmaceutical companies in support of neuroscience drug development. The proposed business model for healthcare provider clinics consists of a base service fee for licensing the product and a per use fee based on volume. The proposed business model for pharmaceutical companies will be tailored to each customer based on the volume and costs associated to provide such services. In order to further grow our products into the medical community, the company has hired sales staff and plans to continue marketing efforts to secure new accounts. The company will continue to focus on targeted outreach and client engagement in the clinics segment. Using its database of potential customers, the company will identify key targets in select markets and connect with them through personalized emails and calls to schedule meetings with decision-makers. The sales team, equipped with marketing materials, case studies, peer-reviewed publications, and knowledge gained from our current research partners, are focused on presenting the benefits of our products and practical applications during these meetings. Follow-up efforts, including addressing questions and offering support by our scientific team, will aim to build strong client relationships and drive adoption of the platform.

The clinical utility of EEG technology to support better outcomes for patients with mental illnesses and cognitive disorders has been well documented. Historically, clinical adoption of EEG by medical professionals, including psychiatrists, neurologists, nurse practitioners and general practitioners, we believe has been limited due to the complexity of interpreting EEG recordings and the inability to practically compare a patient's brain function to that of a clinically normal age-matched patient. Firefly believes that without defining a standard deviation to the norm, it is not possible to objectively assess brain function. By establishing an objective baseline measurement of brain function, our products enable clinicians to optimize patient care, leading to improved outcomes for people suffering from mental illnesses and cognitive disorders.

Our value proposition is supported by real-world use of our products. Incorporating our products as part of a patient management protocol demonstrated improved response rates, enhanced therapy compliance, reduced non-responder rates and a reduction in need for medication switching among patients. Further, we believe that our extensive clinical database, when combined with advanced AI, provides the opportunity to identify clinically relevant biomarkers that will support better patient outcomes through precision medicine and companion diagnostics. We expect to gather additional data through the clinical deployments and clinical studies conducted by drug companies. This additional data may allow us to discover new biomarkers and objectively measure the impact of therapeutic interventions on patients of different types, further enhancing our platform's effectiveness. We believe that we will be able to enhance accurate diagnosis and predict what therapy or drug, or a combination thereof, may be best suited to optimize patient outcomes. This represents a paradigm shift in how clinicians manage patients with mental illnesses and cognitive disorders holding the potential to transform brain health.

**Corporate Information** 

Our principal executive offices are located at 1100 Military Road, Kenmore, NY 14217 and our telephone number is (888) 237-6412. We maintain a website at https://www.fireflyneuro.com/. Information available on our website is not incorporated by reference in and is not deemed a part of this reoffer prospectus.

**RISK FACTORS**

Investing in our common stock involves a high degree of risk. Before investing in our common stock, you should carefully consider the risks set forth under the caption "*Risk Factors*" in our annual report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on April 3, 2025 pursuant to Rule 424(b) under the Securities Act (File No. [001-41092](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/wavd20241231c_10k.htm)), as well as those discussed in our other filings with the SEC, which are incorporated by reference herein, and subsequent reports filed with the SEC, together with the financial and other information contained or incorporated by reference in this reoffer prospectus. If any of the risks actually occur, our business, results of operations, financial condition, and prospects could be harmed. In that event, the trading price of our common stock could decline, and you could lose part or all of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial also may impair our business operations.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This reoffer prospectus contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts are forward-looking statements. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

● fluctuation and volatility in market price of our common stock due to market and industry factors, as well as general economic, political and market conditions;

● our ability to continue as a going concern;

● the impact of dilution on our stockholders, including through the issuance of additional equity securities in the future;

● our ability to realize the intended benefits of the reverse merger transaction contemplated by certain Agreement and Plan of Merger, dated as of November 15, 2023, as amended by that certain Amendment No. 1 on January 12, 2024, and that certain Amendment No. 2 on June 17, 2024, by and among Firefly Neuroscience, Inc. (formerly known as WaveDancer, Inc.), FFN Merger Sub, Inc. and Firefly Neuroscience 2023, Inc. (formerly known as Firefly Neuroscience, Inc.) (the "Merger");

● the impact of our ability to realize the anticipated tax impact of the Merger;

● the outcome of litigation or other proceedings may become subject to in the future;

● delisting of our common stock from the Nasdaq or the failure for an active trading market to develop;

● the failure of our altered business operations, strategies and focus to result in an improvement for the value of our common stock;

● the availability of and our ability to continue to obtain sufficient funding to conduct planned operations and realize potential profits;

● our limited operating history;

● the impact of the complexity of the regulatory landscape on our ability to seek and obtain regulatory approval for its BNA Platform, both within and outside of the U.S.;

● challenges that we may face with maintaining regulatory approval, if achieved;

● the impact of the concertation of capital stock ownership with our insiders on stockholders' ability to influence corporate matters.

● the impacts of future acquisitions of businesses or products and the potential to fail to realize intended benefits of such acquisition;

● the potential impact of changes in the legal and regulatory landscape, both within and outside of the U.S.;

● our dependence on third parties;

● challenges we may face with respect to our BNA Platform achieving market acceptance;

● the impact of pricing of our BNA Platform;

● our ability to obtain, maintain and protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on its proprietary rights;

● our ability to maintain adequate cyber security and information systems;

● our ability to generate sufficient revenue to achieve and sustain profitability; and

● the risk that our significant increased expenses and administrative burdens as a public company could have an adverse effect on our business, financial condition and results of operations.

In some cases, you can identify forward-looking statements by terms such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed or incorporated by reference under the heading "*Risk Factors*" and elsewhere in this reoffer prospectus. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

The forward-looking statements made in this reoffer prospectus relate only to events or information as of the date on which the statements are made in this reoffer prospectus. Although we have ongoing disclosure obligations under United States federal securities laws, we do not intend to update or otherwise revise the forward-looking statements in this reoffer prospectus, whether as a result of new information, future events or otherwise.

**USE OF PROCEEDS**

We will not receive any of the proceeds from the sale of the Shares. All proceeds from the sale of the Shares will be for the account of the Selling Stockholders, as described below. See "*Selling Stockholders*" and "*Plan of Distribution*" below.

**SELLING STOCKHOLDERs**

The table below sets forth information concerning the resale of the Shares by the Selling Stockholders who may, in the future, offer and sell the Shares under this reoffer prospectus. We will not receive any proceeds from the resale of the Shares by the Selling Stockholders.

The table below sets forth, as of November 11, 2025 (the "Determination Date"), (i) the name of each person who is offering the resale of Shares by this reoffer prospectus; (ii) the number of shares of common stock owned (determined in the manner described in footnote (1) to the table below) by each person; (iii) the number of shares that each Selling Stockholder may offer for sale from time to time pursuant to this reoffer prospectus, whether or not such Selling Stockholder has a present intention to do so, includes shares that are unvested or contingent as of the Determination Date, but may vest or become issuable in the future; and (iv) the number of shares (and the percentage, if 1% or more) of common stock each person will own after the offering, assuming they sell all of the Shares offered.

Unless otherwise indicated, ownership is direct and the person indicated has sole voting and investment power. The address for each Selling Stockholder listed in the table below is c/o Firefly Neuroscience, Inc., 1100 Military Road, Kenmore, NY 14217.

The Selling Stockholders identified below may have sold, transferred or otherwise disposed of some or all of their shares since the date on which the information in the following table is presented in transactions exempt from or not subject to the registration requirements of the Securities Act.

Information concerning the Selling Stockholders may change from time to time and, if necessary, we will amend or supplement this reoffer prospectus accordingly. We cannot give an estimate as to the number of Shares that will actually be held by the Selling Stockholders upon termination of this offering because the Selling Stockholders may offer some or all of the common stock under the offering contemplated by this reoffer prospectus or acquire additional shares of common stock. The total number of shares that may be sold hereunder will not exceed the number of Shares offered hereby. Please read the section entitled "Plan of Distribution" in this reoffer prospectus.

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| | | | | |
|:---|:---|:---|:---|:---|
| | | | **Amount of Shares of Common Stock Beneficially Owned After this Offering**<sup>(2)</sup>** | **Amount of Shares of Common Stock Beneficially Owned After this Offering**<sup>(2)</sup>** |
| <br>**Name of Selling Stockholder** | **Amount of Shares of Common Stock Beneficially Owned**<br> **Prior to this**<br>**Offering**<sup>(1)</sup>** | **Amount of Shares of Common Stock Being**<br>**Offered** | **Shares** | **Percent**<sup>(3)</sup>** |
| Greg Lipschitz, Chief Executive Officer and Director | 478849<sup>(4)</sup> | 395927<sup>(4)</sup> | 429358<sup>(4)</sup> | 3.18% |
| Paul Krzywicki, Chief Financial Officer | 14570<sup>(5)</sup> | 25000<sup>(5)</sup> | 5195<sup>(5)</sup> | \* |
| Arun Menawat, Chairman of the Board | 152615<sup>(6)</sup> | 215559<sup>(6)</sup> | 131781<sup>(6)</sup> | \* |
| David DeCaprio, President, Chief Operating Officer and Director | 40696<sup>(7)</sup> | 280619<sup>(7)</sup> | 7702<sup>(7)</sup> | \* |
| Brian Posner, Director | 0<sup>(8)</sup> | 65929<sup>(8)</sup> | 0 | \* |
| Stella Vnook, Director | 0<sup>(9)</sup> | 65929<sup>(9)</sup> | 0 | \* |

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\* Represents beneficial ownership of less than 1% of the shares of common stock.

(1) Reflects
 shares of common stock beneficially owned as of the Determination Date and the shares of
 common stock which each Selling Stockholder has a contingent right to receive, including
 unvested stock options, restricted stock units and deferred stock units, subject to the vesting
 schedules pursuant to the terms of the relevant award agreements.

(2) Assumes
 that all of the Shares being offered under this reoffer prospectus are sold, and that the
 Selling Stockholders on the Determination Date will not acquire additional shares of common
 stock before the completion of this offering.

(3) Based
 on 13,482,511 shares of common stock issued and outstanding as of the Determination Date.

(4) The
 amount of shares of common stock that are beneficially owned consists of (i) 442,200 shares
 of common stock; (ii) up to 25,651 shares of common stock that are currently exercisable
 or exercisable within 60 days of this reoffer prospectus , underlying certain stock options
 held by Bower Four Capital Corp., an entity in which Mr. Lipschitz is the sole stockholder;
 and (iii) 10,998 shares of common stock issuable upon restricted stock units within 60 days
 of the date of this reoffer prospectus. The shares of common stock being offered consist
 of (i) 38,493 shares of common stock underlying vested restricted stock units; and (ii) 357,434
 shares of common stock underlying unvested restricted stock units, which will be issuable
 upon future vesting.

(5) The
 amount of shares of common stock that are beneficially owned consists of (i) 5,195 shares
 of common stock that are currently exercisable or exercisable within 60 days of the date
 of this reoffer prospectus, underlying certain stock options; (ii) up to 5,625 shares of
 common stock that are exercisable within 60 days of
 this reoffer prospectus , underlying certain stock options; (iii) 2,500 shares of common
 stock; and (iv) 1,250 shares of common stock issuable upon restricted stock units within
 60 days of the date of this reoffer prospectus . The shares of common stock being offered
 consist of (i) 3,750 shares of common stock issuable upon the exercise of vested stock options;
 (ii) 11,250 shares of common stock issuable upon the exercise of unvested stock options;
 (iii) 2,500 shares of common stock underlying vested restricted stock units; and (iv) 7,500
 shares of common stock underlying unvested restricted stock units.

(6) The
 amount of shares of common stock that are beneficially owned consists of (i) 109,822 shares
 of common stock; (ii) up to 32,376 shares of common stock that are currently exercisable
 or exercisable within 60 days of this reoffer prospectus ,
 underlying certain stock options; and (iii) 10,417 shares of common stock issuable upon restricted
 stock units within 60 days of the date of this reoffer prospectus. The shares of common stock
 being offered consist of (i) 16,667 shares of common stock underlying vested deferred stock
 units; (ii) 73,892 shares of common stock underlying unvested deferred stock units, which
 will be issuable upon future vesting, with both the vested and unvested deferred stock units
 not yet delivered; (iii) 10,417 shares of common stock underlying vested restricted stock
 units; and (iv) 114,583 shares of common stock underlying unvested restricted stock units
 which will be issuable upon future vesting.

(7) The
 amount of shares of common stock that are beneficially owned consists of underlying stock
 options to purchase up to (i) 7,702 shares of common stock that are currently exercisable
 within 60 days of the date of this reoffer prospectus;
 and (ii) (ii) 21,996 shares of common stock, and (iii) 10,998 shares of common stock issuable upon restricted stock units within 60 days
 of the date of this reoffer prospectus . The
 shares of common stock being offered consist of (i) 16,667 shares of common stock underlying
 vested deferred stock units not yet delivered; (ii) 21,996 shares of common stock underlying
 vested restricted stock units and (iii) 241,956 shares of common stock underlying unvested
 restricted stock units, which will be issuable upon future vesting and the satisfaction of
 certain contingent conditions.

(8) The
 shares of common stock being offered consist of (i) 16,667 shares of common stock underlying
 vested deferred stock units; and (ii) 49,262 shares of common stock underlying unvested deferred
 stock units, which will be issuable upon future vesting, both of vested and unvested deferred
 stock units not yet delivered.

(9) The
 shares of common stock being offered consist of (i) 16,667 shares of common stock underlying
 vested deferred stock units; and (ii) 49,262 shares of common stock underlying unvested deferred
 stock units, which will be issuable upon future vesting, with both the vested and unvested
 deferred stock units not yet delivered.

**PLAN OF DISTRIBUTION**

We are registering the Shares covered by this reoffer prospectus to permit the Selling Stockholders to conduct public secondary trading of these Shares from time to time, subject to the satisfaction of any conditions to vesting of the Shares pursuant to the terms of the relevant award agreements, after the date of this reoffer prospectus. We will not receive any of the proceeds of the sale of the Shares offered by this reoffer prospectus. The aggregate proceeds to the Selling Stockholders from the sale of the Shares will be the purchase price of the Shares less any discounts and commissions. We will not pay any brokers' or underwriters' discounts and commissions in connection with the registration and sale of the Shares covered by this reoffer prospectus. The Selling Stockholders reserve the right to accept and, together with the Selling Stockholders' respective agents, to reject, any proposed purchases of Shares to be made directly or through agents.

Subject to the satisfaction of any conditions to vesting of the Shares pursuant to the terms of the relevant award agreements, the Shares offered by this reoffer prospectus may be sold from time to time to purchasers:

● directly by the Selling Stockholders, or

● through underwriters, broker-dealers, or agents, who may receive compensation in the form of discounts, commissions, or agent's commissions from the Selling Stockholders or the purchasers of the Shares.

Any underwriters, broker-dealers, or agents who participate in the sale or distribution of the Shares may be deemed to be "underwriters" within the meaning of the Securities Act. As a result, any discounts, commissions, or concessions received by any such broker-dealers or agents who are deemed to be underwriters will be deemed to be underwriting discounts and commissions under the Securities Act. Underwriters are subject to the prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities under the Securities Act and the Exchange Act. We will make copies of this reoffer prospectus available to the Selling Stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. To our knowledge, there are currently no plans, arrangements, or understandings between the Selling Stockholders and any underwriter, broker-dealer, or agent regarding the sale of the Shares by the Selling Stockholders.

The Shares may be sold in one or more transactions at:

● fixed prices;

● prevailing market prices at the time of sale;

● prices related to such prevailing market prices;

● varying prices determined at the time of sale; or

● negotiated prices.

These sales may be effected in one or more transactions:

● on any national securities exchange or quotation service on which the Shares may be listed or quoted at the time of sale, including Nasdaq;

● in the over-the-counter market;

● in transactions otherwise than on such exchanges or services or in the over-the-counter market;

● any other method permitted by applicable law; or

● through any combination of the foregoing.

These transactions may include block transactions or crosses. Crosses are transactions in which the same broker acts as an agent on both sides of the trade.

At the time a particular offering of the Shares is made, a prospectus supplement, if required, will be distributed, which will set forth the name of the Selling Stockholders, the aggregate amount of Shares being offered, and the terms of the offering, including, to the extent required, (1) the name or names of any underwriters, broker-dealers, or agents, (2) any discounts, commissions, and other terms constituting compensation from the Selling Stockholders, and (3) any discounts, commissions, or concessions allowed or reallowed to be paid to broker-dealers.

The Selling Stockholders will act independently of us in making decisions with respect to the timing, manner, and size of each resale or other transfer. There can be no assurance that the Selling Stockholders will sell any or all of the Shares under this reoffer prospectus. Further, we cannot assure you that the Selling Stockholders will not transfer, distribute, devise, or gift the Shares by other means not described in this reoffer prospectus. In addition, any Shares covered by this reoffer prospectus that qualify for sale under Rule 144 of the Securities Act may be sold under Rule 144 rather than under this reoffer prospectus. The Shares may be sold in some states only through registered or licensed brokers or dealers. In addition, in some states the Shares may not be sold unless they have been registered or qualified for sale or an exemption from registration or qualification is available and complied with.

The Selling Stockholders and any other person participating in the sale of the Shares will be subject to the Exchange Act. The Exchange Act rules include, without limitation, Regulation M, which may limit the timing of purchases and sales of any of the Shares by the Selling Stockholders and any other person. In addition, Regulation M may restrict the ability of any person engaged in the distribution of the Shares to engage in market-making activities with respect to the particular Shares being distributed. This may affect the marketability of the Shares and the ability of any person or entity to engage in market-making activities with respect to the Shares.

The Selling Stockholders may indemnify any broker or underwriter that participates in transactions involving the sale of the Shares against certain liabilities, including liabilities arising under the Securities Act.

**LEGAL MATTERS**

The validity of the securities covered by this reoffer prospectus will be passed upon for us by Bevilacqua PLLC.

**EXPERTS**

The financial statements of the Company as of and for the fiscal year ended December 31, 2024 are incorporated in this reoffer prospectus by reference in reliance upon the report incorporated by reference of CBIZ Canada, LLP (formerly known as Marcum Canada, LLP), an independent registered public accounting firm, appearing therein (which contains an explanatory paragraph describing conditions that raise substantial doubt about our ability to continue as a going concern as disclosed in Note 2 to the consolidated financial statements), and upon the authority of said firm as experts in accounting and auditing.

The financial statements of the Company as of and for the fiscal year ended December 31, 2023 are incorporated in this reoffer prospectus by reference in reliance upon the report incorporated by reference of Turner, Stone & Company, L.L.P., an independent registered public accounting firm, appearing therein (which contains an explanatory paragraph describing conditions that raise substantial doubt about our ability to continue as a going concern as disclosed in Note 2 to the consolidated financial statements), and upon the authority of said firm as experts in accounting and auditing.

**INFORMATION incorporated by reference**

The following documents filed with the SEC are hereby incorporated by reference in this reoffer prospectus:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/wavd20241231c_10k.htm) for
the fiscal year ended December 31, 2024, filed with the SEC on April 3, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000143774925016587/wavd20250331_10q.htm) for
the fiscal quarter ended March 31, 2025, filed with the SEC on May 14, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000143774925026538/wavd20250630c_10q.htm) for
the fiscal quarter ended June 30, 2025, filed with the SEC on August 13, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(d) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000121390025108474/ea0262535-10q_firefly.htm) for the fiscal quarter ended September 30, 2025, filed with the SEC on November 12, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
Current Reports on Form 8-K (and any amendments thereto on Form 8-K/A) filed with the SEC on, [October 31, 2025](https://www.sec.gov/Archives/edgar/data/803578/000121390025104680/ea0263454-8k_firefly.htm) , [September 5, 2025](https://www.sec.gov/Archives/edgar/data/803578/000121390025085006/ea0256226-8k_firefly.htm) , [June 16, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925020488/wavd20250616_8k.htm) , [May 5, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925014384/wavd20250502_8k.htm) , [April 24, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925012945/wavd20250424_8k.htm) , [April 1, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925010476/wavd20250331_8k.htm) , [March 12, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925007276/wavd20250312_8k.htm) , [February 14, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925004033/wavd20250214_8k.htm) , and [January 6, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925000481/wavd20250106_8k.htm) (other than information furnished and not filed); and

&nbsp;&nbsp;&nbsp;&nbsp;(f) The
description of the common stock contained in [Exhibit 4.1](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/ex_785539.htm) to its Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/wavd20241231c_10k.htm) for the fiscal year ended December 31, 2024, filed with the SEC on April 3, 2025, including any amendment or report filed for
the purpose of updating such description.

All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this reoffer prospectus and prior to the filing of a post-effective amendment to the registration statement of which this reoffer prospectus forms a part that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this reoffer prospectus and to be part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the SEC shall not be deemed incorporated by reference into this reoffer prospectus.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this reoffer prospectus to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this reoffer prospectus.

**WHERE YOU CAN FIND MORE INFORMATION**

We file annual, quarterly and other reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC's website at http://www.sec.gov. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any amendments to those reports, and other information that we file with or furnish to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act can also be accessed free of charge by linking directly from our website at https://www.fireflyneuro.com. These filings will be available as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. Information contained on our website is not part of this reoffer prospectus.

The Company hereby undertakes to provide without charge to each person, including any beneficial owner, to whom a copy of this reoffer prospectus is delivered, upon written or oral request of any such person, a copy of any and all of the information that has been incorporated by reference in this reoffer prospectus but not delivered with this reoffer prospectus other than the exhibits to those documents, unless the exhibits are specifically incorporated by reference into the information that this reoffer prospectus incorporates.

**PART I**

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

**Item 1. Plan Information. \***

**Item 2. Incorporation of Documents by Reference. \***

\* The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act, and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

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

The following documents filed by Firefly Neuroscience, Inc., a Delaware corporation (the "Registrant"), with the Securities and Exchange Commission (the "SEC") are incorporated by reference into this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;(a) The
Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/wavd20241231c_10k.htm) for
the fiscal year ended December 31, 2024, filed with the SEC on April 3, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(b) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000143774925016587/wavd20250331_10q.htm) for
the fiscal year ended March 31, 2025, filed with the SEC on May 14, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(c) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000143774925026538/wavd20250630c_10q.htm) for
the fiscal quarter ended June 30, 2025, filed with the SEC on August 13, 2025

&nbsp;&nbsp;&nbsp;&nbsp;(d) The
Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/803578/000121390025108474/ea0262535-10q_firefly.htm) for the fiscal year ended September 30, 2025, filed with the SEC on November 12, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;(e) The
Current Reports on Form 8-K (and any amendments thereto on Form 8-K/A) filed with the SEC on [October 31, 2025](https://www.sec.gov/Archives/edgar/data/803578/000121390025104680/ea0263454-8k_firefly.htm) , [September 5, 2025](https://www.sec.gov/Archives/edgar/data/803578/000121390025085006/ea0256226-8k_firefly.htm) , [June 16, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925020488/wavd20250616_8k.htm) , [May 5, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925014384/wavd20250502_8k.htm) , [April 24, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925012945/wavd20250424_8k.htm) , [April 1, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925010476/wavd20250331_8k.htm) , [March 12, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925007276/wavd20250312_8k.htm) , [February 14, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925004033/wavd20250214_8k.htm) , and [January 6, 2025](https://www.sec.gov/Archives/edgar/data/803578/000143774925000481/wavd20250106_8k.htm) (other than information furnished and not filed); and, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;(f) The
description of the common stock contained in [Exhibit 4.1](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/ex_785539.htm) to its Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/803578/000143774925010818/wavd20241231c_10k.htm) for the fiscal year ended December 31, 2024, filed with the SEC on April 3, 2025, including any amendment or report filed for
the purpose of updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement on Form S-8 (this "Registration Statement") and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with the rules of the SEC shall not be deemed incorporated by reference into this Registration Statement.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.**

Not applicable.

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

Not applicable.

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

Subsection (a) of Section 145 of the General Corporation Law of the State of Delaware (the "DGCL") empowers a corporation to indemnify any person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person's conduct was unlawful.

Subsection (b) of Section 145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Section 145 further provides that to the extent a director or officer of a corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section 145 shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of such person's heirs, executors and administrators. Section 145 also empowers the corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify such person against such liabilities under Section 145.

Section 102(b)(7) of the DGCL provides that a corporation's certificate of incorporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.

Additionally, the Registrant's Charter limits the liability of its directors to the fullest extent permitted by the DGCL, and the Registrant's Bylaws provide that we will indemnify them to the fullest extent permitted by such law. The Registrant has entered into and expects to continue to enter into agreements to indemnify its directors, executive officers and other employees as determined by its board of directors. Under the terms of such indemnification agreements, the Registrant is required to indemnify each of its directors and officers, to the fullest extent permitted by the laws of the state of Delaware, if the basis of the indemnitee's involvement was by reason of the fact that the indemnitee is or was its director or officer or was serving at the Registrant's request in an official capacity for another entity. The Registrant must indemnify its officers and directors against all reasonable fees, expenses, charges and other costs of any type or nature whatsoever, including any and all expenses and obligations paid or incurred in connection with investigating, defending, being a witness in, participating in (including on appeal), or preparing to defend, be a witness or participate in any completed, actual, pending or threatened action, suit, claim or proceeding, whether civil, criminal, administrative or investigative, or establishing or enforcing a right to indemnification under the indemnification agreement. The indemnification agreements also require us, if so requested, to advance all reasonable fees, expenses, charges and other costs that such director or officer incurred, provided that such person will return any such advance if it is ultimately determined that such person is not entitled to indemnification by us. Any claims for indemnification by the Registrant's directors and officers may reduce the Registrant's available funds to satisfy successful third-party claims against us and may reduce the amount of money available to the Registrant.

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

The issuance of the securities being offered by the Form S-3 resale prospectus was deemed to be exempt from registration under the Securities Act in reliance upon Rule 701 promulgated under Section 3(b) of the Securities Act as a transaction by an issuer not involving any public offering or pursuant to a compensatory benefit plan and contract relating to compensation as provided under Rule 701. An appropriate restriction was placed upon the recipient's book entry account with the Registrant's transfer agent with respect to this transaction. The recipient had adequate access, through the recipient's relationship with the Registrant, to information about the Registrant.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 5.1\* | [Opinion of Bevilacqua PLLC](ea026593101ex5-1_firefly.htm) |
| 23.1\* | [Consent of CBIZ Canada, LLP (formerly known as Marcum Canada, LLP)](ea026593101ex23-1_firefly.htm) |
| 23.2\* | [Consent of Turner, Stone & Company, L.L.P.](ea026593101ex23-2_firefly.htm) |
| 23.3\* | [Consent of Bevilacqua PLLC (included in Exhibit 5.1)](ea026593101ex5-1_firefly.htm) |
| 24.1\* | [Power of Attorney (included on the signature page of this Registration Statement)](#toc) |
| 99.1 | [Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K, filed with the SEC on August 12, 2024)](https://www.sec.gov/ix?doc=/Archives/edgar/data/803578/000143774924026083/wavd20240808_8k.htm) |
| 99.2\* | [Amendment No. 1 to Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan](ea026593101ex99-2_firefly.htm) |
| 99.3\* | [Form of Nonqualified Stock Option Agreement](ea026593101ex99-3_firefly.htm) |
| 99.4\* | [Form of Incentive Stock Option Agreement](ea026593101ex99-4_firefly.htm) |
| 99.5 | [Incentive Stock Option Agreement between Firefly Neuroscience, Inc. and Paul Krzywicki, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.4 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819269.htm) |
| 99.6\* | [Form of Deferred Stock Unit Agreement](ea026593101ex99-6_firefly.htm) |
| 99.7 | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Arun Menawat, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.6 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819270.htm) |
| 99.8 | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Brian Posner, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.7 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819271.htm) |
| 99.9 | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and David DeCaprio, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.8 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819272.htm) |
| 99.10 | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Stella Vnook, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.9 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819273.htm) |
| 99.11\* | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Arun Menawat, dated as of October 28, 2025](ea026593101ex99-11_firefly.htm) |
| 99.12\* | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Brian Posner, dated as of October 28, 2025](ea026593101ex99-12_firefly.htm) |
| 99.13\* | [Deferred Stock Unit Agreement between Firefly Neuroscience, Inc. and Stella Vnook, dated as of October 28, 2025](ea026593101ex99-13_firefly.htm) |
| 99.14\* | [Form of Restricted Stock Unit Agreement](ea026593101ex99-14_firefly.htm) |
| 99.15 | [Restricted Stock Unit Agreement between Firefly Neuroscience, Inc. and Paul Krzywicki, dated as of March 10, 2025 (incorporated herein by reference to Exhibit 99.11 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819274.htm) |
| 99.16 | [Restricted Stock Unit Agreement between Firefly Neuroscience, Inc. and David DeCaprio, dated as of April 18, 2025 (incorporated herein by reference to Exhibit 99.12 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819275.htm) |
| 99.17 | [Restricted Stock Unit Agreement between Firefly Neuroscience, Inc. and Greg Lipschitz, dated as of April 18, 2025 (incorporated herein by reference to Exhibit 99.13 to the Registration Statement on Form S-8, filed with the SEC on May 21, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_819276.htm) |
| 99.18 | [Restricted Stock Unit Agreement between Firefly Neuroscience, Inc. and Arun Menawat, dated as of May 19, 2025 (incorporated herein by reference to Exhibit 99.14 to the Registration Statement on Form S-8, filed with the SEC on May 14, 2025)](https://www.sec.gov/Archives/edgar/data/803578/000143774925017910/ex_821047.htm) |
| 99.19\* | [Form of Restricted Stock Award Agreement](ea026593101ex99-19_firefly.htm) |
| 107\* | [Calculation of Filing Fee Table](ea026593101ex-fee_firefly.htm) |

---

\* Filed herewith.

**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 this 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 this 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 SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; 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;(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in the Registration Statement;

 

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

(c) 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 SEC 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.

**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, in the City of Kenmore, State of New York, on November 18, 2025.

---

| | |
|:---|:---|
| **FIREFLY NEUROSCIENCE, INC.** | **FIREFLY NEUROSCIENCE, INC.** |
| By: | /s/ Greg Lipschitz |
|  | Greg Lipschitz<br> Chief Executive Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Greg Lipschitz and Paul Krzywicki, and each of them, individually, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, 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 he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Greg Lipschitz | Chief Executive Officer | November 18, 2025 |
| Greg Lipschitz | (principal executive officer), and Director |  |
| /s/ Paul Krzywicki | Chief Financial Officer | November 18, 2025 |
| Paul Krzywicki | (principal financial officer and principal accounting officer) |  |
| /s/ Arun Menawat | Chairman of the Board of Directors | November 18, 2025 |
| Arun Menawat |  |  |
| /s/ David DeCaprio | President, Chief Operating Officer and Director | <br> November 18, 2025 |
| David DeCaprio |  |  |
| /s/ Brian Posner | Director | November 18, 2025 |
| Brian Posner |  |  |
| <br> /s/ Stella Vnook | <br> Director | <br>November 18, 2025 |
| Stella Vnook |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

**E:** lou@bevilacquapllc.com

**T:** 202.869.0888

**W:** bevilacquapllc.com

November 18, 2025

Firefly Neuroscience, Inc.

1100 Military Road

Kenmore, NY 14217

Re: <u>Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as counsel to Signing Day Sports, Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing by the Company on the date hereof with the Securities and Exchange Commission (the "Commission") of a Registration Statement (the "Registration Statement") on Form S-8 under the Securities Act of 1933, as amended (the "Securities Act"), relating to the issuance of up to 317,820 shares (the "Shares") of common stock, par value $0.0001 per share, of the Company, that are issuable by the Company pursuant to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (as amended, the "Plan"). This opinion letter is furnished to you at your request and in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related prospectus, other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this opinion letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware (the "DGCL"), and we express no opinion with respect to any other laws.

Subject to the foregoing and the other matters set forth herein, it is our opinion that as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, and have been issued by the Company for legal consideration of not less than par value in the circumstances contemplated by the Plan, as applicable, assuming in each case that the individual issuances, grants or awards under the Plan, as applicable, are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plan, as applicable (and the agreements duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and such Shares will be validly issued, fully paid and non-assessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL.

1050 Connecticut Ave., NW, Suite 500

Washington, DC 20036

---

| | |
|:---|:---|
| **PG 2**<br> March 1, 2024 | ![](ex5-1_002.jpg) |

---

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Securities Act. We consent to your filing this opinion as an exhibit to the Registration Statement and to the reference to our firm in the Prospectus under the heading "Legal Matters." In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

---

| |
|:---|
| Very truly yours, |
| /s/ BEVILACQUA PLLC |

---

## Exhibit 23.1

**Exhibit 23.1**

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM'S CONSENT**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated April 2, 2025 relating to the financial statements appearing in the Annual Report on Form 10-K of Firefly Neuroscience, Inc. for the year ended December 31, 2024.

---

| |
|:---|
| /s/ CBIZ Canada, LLP |
| CBIZ Canada, LLP (Formerly known as Marcum Canada, LLP) |
| Toronto, Ontario |
| November 17, 2025 |

---

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Firefly Neuroscience, Inc. of our report dated May 22, 2024 (except for stock issuances and related equity items to retroactively reflect the company's reverse recapitalization as to which the date is January 13, 2025) relating to the consolidated financial statements as of and for the year ended December 31, 2023, which appears in the Firefly Neuroscience, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2024.

We also consent to the reference to our firm under the heading "Experts" in such Registration Statement.

/s/ Turner, Stone & Company, L.L.P.

Dallas, Texas

November 17, 2025

## Exhibit 99.2

**Exhibit 99.2**

AMENDMENT NO. 1

TO

FIREFLY NEUROSCIENCE, INC.

2024 LONG-TERM INCENTIVE PLAN

The Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "Plan") is hereby amended as follows:

Section 5.1 of the Plan is hereby amended in its entirety to read as follows:

"5.1. **Number Available for Awards**. Subject to adjustment as provided in <u>Articles 11 and 12</u>, the maximum number of shares of Common Stock that may be delivered pursuant to Awards granted under the Plan (the "***Plan Share Limit***") is 1,151,153 shares, of which one hundred percent (100%) may be delivered pursuant to Incentive Stock Options. Shares to be issued may be made available from authorized but unissued Common Stock, Common Stock held by the Company in its treasury, or Common Stock purchased by the Company on the open market or otherwise. During the term of this Plan, the Company will at all times reserve and keep available the number of shares of Common Stock that shall be sufficient to satisfy the requirements of this Plan.

Section 5.3 is hereby added to the Plan to read as follows:

"5.3. **Annual Increase in Available Shares**. On the first day of each calendar year during the term of the Plan, commencing on January 1, 2026 and continuing until (and including) January 1, 2035, the number of shares of Common Stock available under the Plan Share Limit shall automatically increase to a number equal to the lesser of (a) four percent (4%) of the total number of shares of Common Stock issued and outstanding on December 31 of the calendar year immediately preceding the date of such increase and (b) a number of shares of Common Stock determined by the Board."

Except as herein amended, the provisions of the Plan shall remain in full force and effect.

Effective as of ________, 2025

## Exhibit 99.3

**Exhibit 99.3**

**FIREFLY NEUROSCIENCE, INC.**

**2024 LONG-TERM INCENTIVE PLAN, AS AMENDED BY AMENDMENT NO.1 TO THE FIREFLY NEUROSCIENCE, INC. 2024 LONG-TERM**

**INCENTIVE PLAN**

**Notice of Nonqualified Stock Option Grant**

Pursuant to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "***Plan***") for Employees, Contractors, and Outside Directors of Firefly Neuroscience, Inc., a Delaware corporation (f/k/a WaveDancer, Inc.) (the "***Company***"), the Company hereby grants you the following nonqualified stock option (the "***Stock Option***") to purchase the number of full shares of Common Stock of the Company (the "***Optioned Shares***") set forth below at an "***Option Price***" equal to the value set forth below (being the Fair Market Value per share of the Common Stock on the Date of Grant).

The Stock Option is subject to all the terms and conditions set forth in this Notice of Nonqualified Stock Option Grant (the "***Notice of Grant***") and in the Award Agreement attached hereto as <u>Exhibit A</u> (the "***Agreement***") and the Plan, each of which are incorporated by reference into this Notice of Grant. Capitalized terms that are not defined in the Notice of Grant shall have the meanings given to them in the Agreement, and if not defined in the Agreement, the meanings given to them in the Plan.

---

| | |
|:---|:---|
| Name of Participant: | _____________________ |
| Total Number of Shares: | _____________________ |
| Type of Stock Option: | Nonqualified Stock Option (NQSO) |
| Option Price Per Share: | $______________ |
| Date of Grant: | _____________ |
| Date Exercisable: | Except as specifically provided in the Agreement and subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall be fully exercisable with respect to an Optioned Share on the date such Optioned Share becomes vested in accordance with the Vesting Schedule set forth below. |

---

---

| | |
|:---|:---|
| Vesting Schedule: | [VESTING TBD]<br>[Except as specifically provided in the Agreement and subject to the restrictions and conditions set forth in the Plan, the Optioned Shares shall vest and be exercisable as follows, in accordance with the following schedule, provided the Participant is employed by or providing services to the Company or a Subsidiary on the applicable vesting date:<br>● ____% of the Optioned Shares (rounded down for any fractional Optioned Shares) shall vest on the ___ anniversary of the Date of Grant;<br>● ____% of the Optioned Shares (rounded down for any fractional Optioned Shares) shall vest on the ___ anniversary of the Date of the Grant; and<br>● The remaining Optioned Shares shall vest on the ___ anniversary of the Date of the Grant.] |
|  | [Notwithstanding the foregoing, 100% of the Optioned Shares not previously vested shall immediately become vested Optioned Shares and this Stock Option shall become fully exercisable upon the occurrence of a Change in Control, if not previously so exercisable.] |
| Option Period: | The Option Period shall commence on the Date of Grant and end of the 10th anniversary of the Date of Grant. This Option expires earlier upon the Participant's Termination of Service, as provided in <u>Section 4</u> of the Agreement. |

---

**Additional Terms/Acknowledgment**: You acknowledge and agree that the Notice of Grant and the vesting and exercisability schedule set forth herein and in the Agreement do not constitute an express or implied promise of your continued engagement as an Employee, Contractor, Outside Director or other service provider for the vesting period, for any period, or at all, and shall not interfere with your right or the Company's right to terminate your employment or service relationship with the Company or its Subsidiaries at any time, with or without Cause (as defined in the Agreement).

**Committee Decisions/Interpretation**s: You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan and the Agreement.

**Delivery of Documents:** You further agree that the Company may deliver by email all documents relating to the Plan or this Stock Option (including, without limitation, a copy of the Plan) and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify you by email.

[*Remainder of Page Intentionally Left Blank; Signature Page Follows.*]

**By your signature below or electronic acceptance, you agree that the Notice of Grant, the Agreement, and the Plan constitute your entire agreement with respect to the Stock Option, and except as set forth therein, may not be modified except by means of a writing signed by the Company and you. This Notice of Grant may be executed and/or accepted electronically and/or executed in duplicate counterparts, the production of either of which (including a signature or proof of electronic acceptance) shall be sufficient for all purposes for the proof of the binding terms of this Stock Option.**

---

| | | |
|:---|:---|:---|
| **Participant:** | **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
|  | By: | /s/ |
| Name: | Name: |  |
|  | Title: |  |

---

Attachments:

Exhibit A - Nonqualified Stock Option Award Agreement

**EXHIBIT A TO NOTICE OF GRANT**

**NONQUALIFIED STOCK OPTION AWARD AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Grant of Nonqualified Stock Option</u>. This Stock Option is a Nonqualified Stock Option that is intended to comply with the provisions governing nonqualified stock options under the final Treasury Regulations issued on April 17, 2007, in order to exempt this Stock Option from application of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Subject to Plan</u>. The Stock Option and its exercise are subject to the terms and conditions of the Notice of Grant and the Plan, and the terms of the Notice of Grant and the Plan shall control to the extent not otherwise inconsistent with the provisions of this Nonqualified Stock Option Agreement (this "***Agreement***"). The capitalized terms used herein that are defined in the Plan shall have the same meanings assigned to them in the Plan. The Stock Option is subject to any rules promulgated pursuant to the Plan by the Board or the Committee, as applicable, and communicated to the Participant in writing. In addition, if the Plan previously has not been approved by the Company's stockholders, the Stock Option is granted subject to such stockholder approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Vesting; Time of Exercise</u>. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall be fully exercisable as provided in the Notice of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Term; Forfeiture</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;a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares that are not vested on the date of the Participant's Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested on such date will terminate at the first of the following to occur:

&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;i. 5 p.m. on the date the Option Period terminates;

&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;ii. 5 p.m. on the date which is 12 months following the date of the Participant's Termination of Service due to death or Total and Permanent Disability;

&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;iii. immediately upon the Participant's Termination of Service by the Company for Cause (as defined herein);

&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;iv. 5 p.m. on the date which is 90 days following the date of the Participant's Termination of Service for any reason not otherwise specified in this <u>Section 4.a.</u>; or

&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;v. 5 p.m. on the date the Company causes any portion of the Stock Option to be forfeited pursuant to <u>Section 7</u> hereof.

&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. [For purposes of this Agreement, "***Cause***" ****shall have the meaning ascribed to such term in any employment, consulting, or other services agreement in effect by and between the Company and the Participant; provided, however, that at any time there is no such agreement in effect, or if such agreement does not define such term, the term "Cause" shall mean: (i) the Board, in its reasonable discretion, determines that the Participant has committed any act of fraud, embezzlement, misappropriation, or theft in the course of the Participant's employment with the Company or regarding any aspect of the business of the Company or any current or future parent, subsidiary or other affiliate of the Company (each, an "***Affiliate***" and collectively "***Affiliates***"); (ii) the Participant has been convicted of, or pleaded guilty or nolo contendere to, any violation of any federal, state, or local law, ordinance, rule, or regulation (other than minor traffic violations or similar offenses) that the Board determines in its reasonable discretion is, or is reasonably likely to be, materially detrimental to the business, reputation, or goodwill of the Company or any of the Affiliates or the Participant's ability to perform the Participant's position with the Company; (iii) the Participant has been convicted of, or pleaded guilty or nolo contendere to, any felony or any crime involving moral turpitude; (iv) the Participant has (A) failed to substantially perform the Participant's material duties or responsibilities under the applicable employment, consulting, or other services agreement in effect by and between the Company and the Participant or as prescribed to the Participant by the Board or the Company or (B) materially breached any provision under such agreement, or any of the Company's written policies provided to the Participant, and if such failure or breach is curable by the Participant, such failure or breach is not cured to the reasonable satisfaction of the Company or Board within fifteen (15) days after the Participant's receipt of written notice of such failure or breach; or (v) the Participant has engaged in any act of gross negligence, disloyalty, or unfaithfulness concerning the Company or any Affiliate.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Who May Exercise</u>. Subject to the terms and conditions set forth in <u>Sections 3 and 4</u> above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant's guardian or personal or legal representative. If the Participant's Termination of Service is due to the Participant's death prior to the dates specified in <u>Section 4.a.</u> hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in <u>Section 3</u> hereof as of the date of death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in <u>Section 4.a.</u> hereof: the personal representative of the Participant's estate or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant, provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and all Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>No Fractional Shares</u>. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Manner of Exercise</u>. Subject to such administrative regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised and the date of exercise thereof (the "***Exercise Date***"), which shall be at least three days after giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company; (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, and which the Participant has not acquired from the Company within six months prior to the Exercise Date; (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price; (d) by requesting the Company to withhold the number of shares otherwise deliverable upon exercise of the Stock Option by the number of shares of Common Stock having an aggregate Fair Market Value equal to the aggregate Option Price at the time of exercise (*i.e.,* a cashless net exercise), and/or (e) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock so tendered.

Upon payment of all amounts due from the Participant, the Company shall cause certificates for the Common Stock then being purchased to be registered in the Participant's name at its principal business office promptly after the Exercise Date, provided that such certificate(s) shall be held by the Company unless the Participant specifically requests delivery of such certificate(s). The obligation of the Company to deliver shares of Common Stock shall, however, be subject to the condition that, if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee.

If the Participant fails to pay for any of the Optioned Shares specified in such notice or fails to accept delivery thereof, that portion of the Participant's Stock Option and the right to purchase such Optioned Shares may be forfeited by the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Nonassignability</u>. The Stock Option is not assignable or transferable by the Participant except by will or by the laws of descent and distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Rights as Stockholder</u>. The Participant will have no rights as a stockholder with respect to any of the Optioned Shares until the issuance of a certificate or certificates to the Participant for the shares of Common Stock. The Optioned Shares shall be subject to the terms and conditions of this Agreement. Except as otherwise provided in <u>Section 10</u> hereof, no adjustment shall be made for dividends or other rights for which the record date is prior to the issuance of such certificate or certificates. The Participant, by the Participant's execution of this Agreement, agrees to execute any documents requested by the Company in connection with the issuance of the shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Adjustment of Number of Optioned Shares and Related Matters</u>. The number of shares of Common Stock covered by the Stock Option, and the Option Prices thereof, shall be subject to adjustment in accordance with <u>Articles 11 - 13</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Nonqualified Stock Option</u>. The Stock Option shall not be treated as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Voting</u>. The Participant, as record holder of some or all of the Optioned Shares following exercise of this Stock Option, has the exclusive right to vote, or consent with respect to, such Optioned Shares until such time as the Optioned Shares are transferred in accordance with this Agreement; provided, however, that this <u>Section 12</u> shall not create any voting right where the holders of such Optioned Shares otherwise have no such right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Specific Performance</u>. The parties acknowledge that remedies at law will be inadequate remedies for breach of this Agreement and consequently agree that this Agreement shall be enforceable by specific performance. The remedy of specific performance shall be cumulative of all of the rights and remedies at law or in equity of the parties under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Participant's Representations</u>. Notwithstanding any of the provisions hereof, the Participant hereby agrees that he or she will not exercise the Stock Option granted hereby, and that the Company will not be obligated to issue any shares to the Participant hereunder, if the exercise thereof or the issuance of such shares shall constitute a violation by the Participant or the Company of any provision of any law or regulation of any governmental authority. Any determination in this connection by the Company shall be final, binding, and conclusive. The obligations of the Company and the rights of the Participant are subject to all Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Investment Representation</u>. Unless the shares of Common Stock are issued to the Participant in a transaction registered under applicable federal and state securities laws, by the Participant's execution hereof, the Participant represents and warrants to the Company that all Common Stock which may be purchased hereunder will be acquired by the Participant for investment purposes for the Participant's own account and not with any intent for resale or distribution in violation of federal or state securities laws. Unless the Common Stock is issued to him in a transaction registered under the applicable federal and state securities laws, all certificates issued with respect to the Common Stock shall bear an appropriate restrictive investment legend and shall be held indefinitely, unless they are subsequently registered under the applicable federal and state securities laws or the Participant obtains an opinion of counsel, in form and substance satisfactory to the Company and its counsel, that such registration is not required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Participant's Acknowledgments</u>. The Participant acknowledges that a copy of the Plan has been made available for the Participant's review by the Company and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Stock Option subject to all the terms and provisions thereof. The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee or the Board, as appropriate, upon any questions arising under the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Law Governing</u>. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware (excluding any conflict of laws rule or principle of Delaware law that might refer the governance, construction, or interpretation of this Agreement to the laws of another state).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>No Right to Continue Service or Employment</u>. Nothing herein shall be construed to confer upon the Participant the right to continue in the employ or to provide services to the Company or any Subsidiary, whether as an Employee, Contractor, or Outside Director, or to interfere with or restrict in any way the right of the Company or any Subsidiary to discharge the Participant as an Employee, Contractor, or Outside Director at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Legal Construction.</u> In the event that any one or more of the terms, provisions, or agreements that are contained in this Agreement shall be held by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement, and this Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never been contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Covenants and Agreements as Independent Agreements</u>. Each of the covenants and agreements that are set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of any claim or cause of action of the Participant against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Entire Agreement</u>. This Agreement together with the Notice of Grant and the Plan supersede any and all other prior understandings and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement, the Notice of Grant or the Plan and that any agreement, statement, or promise that is not contained in this Agreement, the Notice of Grant or the Plan shall not be valid or binding or of any force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>Parties Bound</u>. The terms, provisions, and agreements that are contained in this Agreement shall apply to, be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment expressly set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. <u>Modification</u>. No change or modification of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the parties; provided, however, that the Company may change or modify this Agreement without the Participant's consent or signature if the Company determines, in its sole discretion, that such change or modification is necessary for purposes of compliance with or exemption from the requirements of Section 409A of the Code or any regulations or other guidance issued thereunder. Notwithstanding the preceding sentence, the Company may amend the Plan to the extent permitted by the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>Headings</u>. The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered in construing the terms and provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. <u>Gender and Number</u>. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. <u>Notice</u>. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Participant, as the case may be, at the addresses set forth below, or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith:

&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. Notice to the Company shall be addressed and delivered as follows:

Firefly Neuroscience, Inc.

[______________]

&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. Notice to the Participant shall be addressed and delivered to the most recent address in the Company's records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27. <u>Clawback</u>. The Participant acknowledges, understands and agrees, with respect to any shares of Common Stock registered in the Participant's name (or delivered to the Participant) pursuant to this Agreement, that such shares of Common Stock shall be subject to recovery by the Company, and the Participant shall be required to repay such compensation or shares of Common Stock, in accordance with the Company's Compensation Adjustment and Recovery Policy, as in effect from time to time. The Participant further acknowledges, understands, and agrees that the Board retains the right to modify the Company's Compensation Adjustment and Recovery Policy at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28. <u>Tax Requirements</u>. **The Participant is hereby advised to consult immediately with the Participant**'**s own tax advisor regarding the tax consequences of this Agreement.** The Company or, if applicable, any Subsidiary (for purposes of this <u>Section 28</u>, the term "*Company*" shall be deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts hereunder paid in cash or other form, any federal, state, local, or other taxes required by law to be withheld in connection with this Award. The Company may, in its sole discretion, also require the Participant receiving shares of Common Stock issued under the Plan to pay the Company the amount of any taxes that the Company is required to withhold in connection with the Participant's income arising with respect to this Award. Such payments shall be required to be made when requested by the Company and may be required to be made prior to the delivery of any certificate representing shares of Common Stock. Such payment may be made by (a) the delivery of cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding obligations of the Company; (b) if the Company, in its sole discretion, so consents in writing, the actual delivery by the exercising Participant to the Company of shares of Common Stock other than (i) Restricted Stock, or (ii) Common Stock that the Participant has not acquired from the Company within six months prior to the date of exercise, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding payment; (c) if the Company, in its sole discretion, so consents in writing, the Company's withholding of a number of shares to be delivered upon the exercise of the Stock Option other than shares that will constitute Restricted Stock, which shares so withheld have an aggregate fair market value that equals (but does not exceed) the required tax withholding payment; or (d) any combination of (a), (b), or (c). The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant.

## Exhibit 99.4

**Exhibit 99.4**

**FIREFLY NEUROSCIENCE, INC.**

**2024 LONG-TERM INCENTIVE PLAN,** 

**AS AMENDED BY AMENDMENT NO.1 TO THE FIREFLY NEUROSCIENCE, INC. 2024 LONG-TERM**

**INCENTIVE PLAN**

**Notice of Incentive Stock Option Grant**

Pursuant to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "***Plan***") for Employees, Contractors, and Outside Directors of Firefly Neuroscience, Inc., a Delaware corporation (f/k/a WaveDancer, Inc.) (the "***Company***"), the Company hereby grants you the following incentive stock option (the "***Stock Option***") to purchase the number of full shares of Common Stock of the Company (the "***Optioned Shares***") set forth below at an "***Option Price***" equal to the value set forth below (being the Fair Market Value per share of the Common Stock on the Date of Grant or 110% of such Fair Market Value, in the case of a ten percent (10%) or more stockholder as provided in Section 422 of the Code).

The Stock Option is subject to all the terms and conditions set forth in this Notice of Incentive Stock Option Grant (the "***Notice of Grant***") and in the Award Agreement attached hereto as <u>Exhibit A</u> (the "***Agreement***") and the Plan, each of which are incorporated by reference into this Notice of Grant. Capitalized terms that are not defined in the Notice of Grant shall have the meanings given to them in the Agreement, and if not defined in the Agreement, the meanings given to them in the Plan.

Name of Participant: _____________________

Total Number of Shares: _____________________

Type of Stock Option: Incentive Stock Option (ISO)

Option Price Per Share: $______________

Date of Grant: _______________

Date Exercisable: Except as specifically provided in the Agreement and subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall be fully exercisable with respect to an Optioned Share on the date such Optioned Share becomes vested in accordance with the Vesting Schedule set forth below.

Vesting Schedule: [VESTING TBD] [Except as specifically provided in the Agreement and subject to the restrictions and conditions set forth in the Plan, the Optioned Shares shall vest and be exercisable as follows, in accordance with the following schedule, provided the Participant is employed by or providing services to the Company or a Subsidiary on the applicable vesting date: ● ____% of the Optioned Shares (rounded down for any fractional Optioned Shares) shall vest on the ___ anniversary of the Date of Grant; ● ____% of the Optioned Shares (rounded down for any fractional Optioned Shares) shall vest on the ___ anniversary of the Date of the Grant; and ● The remaining Optioned Shares shall vest on the ___ anniversary of the Date of the Grant.]

---

| | |
|:---|:---|
|  | [Notwithstanding the foregoing, 100% of the Optioned Shares not previously vested shall immediately become vested Optioned Shares and this Stock Option shall become fully exercisable upon the occurrence of a Change in Control, if not previously so exercisable.] |
| Option Period: | The Option Period shall commence on the Date of Grant and end of the 10th anniversary of the Date of Grant. This Option expires earlier upon the Participant's Termination of Service, as provided in <u>Section 4</u> of the Agreement. |

---

**Additional Terms/Acknowledgment**: You acknowledge and agree that the Notice of Grant and the vesting and exercisability schedule set forth herein and in the Agreement do not constitute an express or implied promise of your continued engagement as an Employee, Contractor, Outside Director or other service provider for the vesting period, for any period, or at all, and shall not interfere with your right or the Company's right to terminate your employment or service relationship with the Company or its Subsidiaries at any time, with or without Cause (as defined in the Agreement).

**Committee Decisions/Interpretation**s: You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan and the Agreement.

**Delivery of Documents:** You further agree that the Company may deliver by email all documents relating to the Plan or this Stock Option (including, without limitation, a copy of the Plan) and all other documents that the Company is required to deliver to its security holders (including, without limitation, disclosures that may be required by the Securities and Exchange Commission). You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify you by email.

[*Remainder of Page Intentionally Left Blank; Signature Page Follows.*]

**By your signature below or electronic acceptance, you agree that the Notice of Grant, the Agreement, and the Plan constitute your entire agreement with respect to the Stock Option, and except as set forth therein, may not be modified except by means of a writing signed by the Company and you. This Notice of Grant may be executed and/or accepted electronically and/or executed in duplicate counterparts, the production of either of which (including a signature or proof of electronic acceptance) shall be sufficient for all purposes for the proof of the binding terms of this Stock Option.**

---

| | |
|:---|:---|
| **Participant:** | **Firefly Neuroscience, Inc.** |
|  | By: |
| Name: | Name: |
|  | Title: |

---

Attachments:

Exhibit A - Incentive Stock Option Award Agreement

**EXHIBIT A TO NOTICE OF GRANT**

**INCENTIVE STOCK OPTION AWARD AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Grant of Incentive Stock Option</u>. This Stock Option is an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Subject to Plan</u>. The Stock Option and its exercise are subject to the terms and conditions of the Notice of Grant and the Plan, and the terms of the Notice of Grant and the Plan shall control to the extent not otherwise inconsistent with the provisions of this Incentive Stock Option Agreement (this "***Agreement***"). The capitalized terms used herein that are defined in the Plan shall have the same meanings assigned to them in the Plan. The Stock Option is subject to any rules promulgated pursuant to the Plan by the Board or the Committee, as applicable, and communicated to the Participant in writing. In addition, if the Plan previously has not been approved by the Company's stockholders, the Stock Option is granted subject to such stockholder approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Vesting; Time of Exercise</u>. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall be fully exercisable as provided in the Notice of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Term; Forfeiture</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;a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares that are not vested on the date of the Participant's Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested on such date will terminate at the first of the following to occur:

&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;i. 5 p.m. on the date the Option Period terminates;

&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;ii. 5 p.m. on the date which is 12 months following the date of the Participant's Termination of Service due to death or Total and Permanent Disability;

&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;iii. immediately upon the Participant's Termination of Service by the Company for Cause (as defined herein);

&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;iv. 5 p.m. on the date which is 90 days following the date of the Participant's Termination of Service for any reason not otherwise specified in this <u>Section 4.a.</u>; or

&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;v. 5 p.m. on the date the Company causes any portion of the Stock Option to be forfeited pursuant to <u>Section 7</u> hereof.

&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. [For purposes of this Agreement, "***Cause***" ****shall have the meaning ascribed to such term in any employment, consulting, or other services agreement in effect by and between the Company and the Participant; provided, however, that at any time there is no such agreement in effect, or if such agreement does not define such term, the term "Cause" shall mean: (i) the Board, in its reasonable discretion, determines that the Participant has committed any act of fraud, embezzlement, misappropriation, or theft in the course of the Participant's employment with the Company or regarding any aspect of the business of the Company or any current or future parent, subsidiary or other affiliate of the Company (each, an "***Affiliate***" and collectively "***Affiliates***"); (ii) the Participant has been convicted of, or pleaded guilty or nolo contendere to, any violation of any federal, state, or local law, ordinance, rule, or regulation (other than minor traffic violations or similar offenses) that the Board determines in its reasonable discretion is, or is reasonably likely to be, materially detrimental to the business, reputation, or goodwill of the Company or any of the Affiliates or the Participant's ability to perform the Participant's position with the Company; (iii) the Participant has been convicted of, or pleaded guilty or nolo contendere to, any felony or any crime involving moral turpitude; (iv) the Participant has (A) failed to substantially perform the Participant's material duties or responsibilities under the applicable employment, consulting, or other services agreement in effect by and between the Company and the Participant or as prescribed to the Participant by the Board or the Company or (B) materially breached any provision under such agreement, or any of the Company's written policies provided to the Participant, and if such failure or breach is curable by the Participant, such failure or breach is not cured to the reasonable satisfaction of the Company or Board within fifteen (15) days after the Participant's receipt of written notice of such failure or breach; or (v) the Participant has engaged in any act of gross negligence, disloyalty, or unfaithfulness concerning the Company or any Affiliate.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Who May Exercise</u>. Subject to the terms and conditions set forth in <u>Sections 3 and 4</u> above, during the lifetime of the Participant, the Stock Option may be exercised only by the Participant, or by the Participant's guardian or personal or legal representative. If the Participant's Termination of Service is due to the Participant's death prior to the dates specified in <u>Section 4.a.</u> hereof, and the Participant has not exercised the Stock Option as to the maximum number of vested Optioned Shares as set forth in <u>Section 3</u> hereof as of the date of death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Participant at any time prior to the earliest of the dates specified in <u>Section 4.a.</u> hereof: the personal representative of the Participant's estate or the person who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Participant, provided that the Stock Option shall remain subject to the other terms of this Agreement, the Plan, and all Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>No Fractional Shares</u>. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock shall be issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Manner of Exercise</u>. Subject to such administrative regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice to the Committee setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised and the date of exercise thereof (the "***Exercise Date***"), which shall be at least three days after giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Participant shall deliver to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows: (a) cash, check, bank draft, or money order payable to the order of the Company; (b) if the Company, in its sole discretion, so consents in writing, Common Stock (including Restricted Stock) owned by the Participant on the Exercise Date, valued at its Fair Market Value on the Exercise Date, and which the Participant has not acquired from the Company within six months prior to the Exercise Date; (c) if the Company, in its sole discretion, so consents in writing, by delivery (including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable instructions from the Participant to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the Company the amount of sale or loan proceeds necessary to pay such purchase price; (d) by requesting the Company to withhold the number of shares otherwise deliverable upon exercise of the Stock Option by the number of shares of Common Stock having an aggregate Fair Market Value equal to the aggregate Option Price at the time of exercise (*i.e.,* a cashless net exercise), and/or (e) in any other form of valid consideration that is acceptable to the Committee in its sole discretion. In the event that shares of Restricted Stock are tendered as consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option equal to the number of shares of Restricted Stock used as consideration therefor shall be subject to the same restrictions and provisions as the Restricted Stock so tendered.

Upon payment of all amounts due from the Participant, the Company shall cause certificates for the Common Stock then being purchased to be registered in the Participant's name at its principal business office promptly after the Exercise Date, provided that such certificate(s) shall be held by the Company unless the Participant specifically requests delivery of such certificate(s). The obligation of the Company to deliver shares of Common Stock shall, however, be subject to the condition that, if at any time the Company shall determine in its discretion that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee.

If the Participant fails to pay for any of the Optioned Shares specified in such notice or fails to accept delivery thereof, that portion of the Participant's Stock Option and the right to purchase such Optioned Shares may be forfeited by the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Nonassignability</u>. The Stock Option is not assignable or transferable by the Participant except by will or by the laws of descent and distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Rights as Stockholder</u>. The Participant will have no rights as a stockholder with respect to any of the Optioned Shares until the issuance of a certificate or certificates to the Participant for the shares of Common Stock. The Optioned Shares shall be subject to the terms and conditions of this Agreement. Except as otherwise provided in <u>Section 10</u> hereof, no adjustment shall be made for dividends or other rights for which the record date is prior to the issuance of such certificate or certificates. The Participant, by the Participant's execution of this Agreement, agrees to execute any documents requested by the Company in connection with the issuance of the shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Adjustment of Number of Optioned Shares and Related Matters</u>. The number of shares of Common Stock covered by the Stock Option, and the Option Prices thereof, shall be subject to adjustment in accordance with <u>Articles 11 - 13</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Incentive Stock Option</u>. Subject to the provisions of the Plan, the Stock Option is intended to be an Incentive Stock Option. To the extent the number of Optioned Shares exceeds the limit set forth in Section 6.3 of the Plan, such Optioned Shares shall be deemed granted pursuant to a Nonqualified Stock Option. Unless otherwise indicated by the Participant in the notice of exercise pursuant to Section 7 above, upon any exercise of this Stock Option, the number of exercised Optioned Shares that shall be deemed to be exercised pursuant to an Incentive Stock Option shall equal the total number of Optioned Shares so exercised multiplied by a fraction, (a) the numerator of which is the number of unexercised Optioned Shares that could then be exercised pursuant to an Incentive Stock Option, and (b) the denominator of which is the then total number of unexercised Optioned Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Disqualifying Disposition</u>. In the event that Common Stock acquired upon exercise of this Stock Option is disposed of by the Participant in a "Disqualifying Disposition," such Participant shall notify the Company in writing within 30 days after such disposition of the date and terms of such disposition. For purposes hereof, "Disqualifying Disposition" shall mean a disposition of Common Stock that is acquired upon the exercise of this Stock Option (and that is not deemed granted pursuant to a Nonqualified Stock Option under Section 11) prior to the expiration of either two years from the Date of Grant of this Stock Option or one year from the transfer of shares to the Participant pursuant to the exercise of the Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Voting</u>. The Participant, as record holder of some or all of the Optioned Shares following exercise of this Stock Option, has the exclusive right to vote, or consent with respect to, such Optioned Shares until such time as the Optioned Shares are transferred in accordance with this Agreement; provided, however, that this <u>Section 13</u> shall not create any voting right where the holders of such Optioned Shares otherwise have no such right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Specific Performance</u>. The parties acknowledge that remedies at law will be inadequate remedies for breach of this Agreement and consequently agree that this Agreement shall be enforceable by specific performance. The remedy of specific performance shall be cumulative of all of the rights and remedies at law or in equity of the parties under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Participant's Representations</u>. Notwithstanding any of the provisions hereof, the Participant hereby agrees that the Participant will not exercise the Stock Option granted hereby, and that the Company will not be obligated to issue any shares to the Participant hereunder, if the exercise thereof or the issuance of such shares shall constitute a violation by the Participant or the Company of any provision of any law or regulation of any governmental authority. Any determination in this connection by the Company shall be final, binding, and conclusive. The obligations of the Company and the rights of the Participant are subject to all Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Investment Representation</u>. Unless the shares of Common Stock are issued to the Participant in a transaction registered under applicable federal and state securities laws, by the Participant's execution hereof, the Participant represents and warrants to the Company that all Common Stock which may be purchased hereunder will be acquired by the Participant for investment purposes for the Participant's own account and not with any intent for resale or distribution in violation of federal or state securities laws. Unless the Common Stock is issued to him in a transaction registered under the applicable federal and state securities laws, all certificates issued with respect to the Common Stock shall bear an appropriate restrictive investment legend and shall be held indefinitely, unless they are subsequently registered under the applicable federal and state securities laws or the Participant obtains an opinion of counsel, in form and substance satisfactory to the Company and its counsel, that such registration is not required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Participant's Acknowledgments</u>. The Participant acknowledges that a copy of the Plan has been made available for the Participant's review by the Company and represents that the Participant is familiar with the terms and provisions thereof, and hereby accepts this Stock Option subject to all the terms and provisions thereof. The Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee or the Board, as appropriate, upon any questions arising under the Plan or this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Law Governing</u>. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware (excluding any conflict of laws rule or principle of Delaware law that might refer the governance, construction, or interpretation of this Agreement to the laws of another state).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>No Right to Continue Service or Employment</u>. Nothing herein shall be construed to confer upon the Participant the right to continue in the employ or to provide services to the Company or any Subsidiary, whether as an Employee, Contractor, or Outside Director, or to interfere with or restrict in any way the right of the Company or any Subsidiary to discharge the Participant as an Employee, Contractor, or Outside Director at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Legal Construction.</u> In the event that any one or more of the terms, provisions, or agreements that are contained in this Agreement shall be held by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement, and this Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never been contained herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Covenants and Agreements as Independent Agreements</u>. Each of the covenants and agreements that are set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of any claim or cause of action of the Participant against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. <u>Entire Agreement</u>. This Agreement together with the Notice of Grant and the Plan supersede any and all other prior understandings and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement, the Notice of Grant or the Plan and that any agreement, statement, or promise that is not contained in this Agreement, the Notice of Grant or the Plan shall not be valid or binding or of any force or effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. <u>Parties Bound</u>. The terms, provisions, and agreements that are contained in this Agreement shall apply to, be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment expressly set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>Modification</u>. No change or modification of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the parties; provided, however, that the Company may change or modify this Agreement without the Participant's consent or signature if the Company determines, in its sole discretion, that such change or modification is necessary for purposes of compliance with or exemption from the requirements of Section 409A of the Code or any regulations or other guidance issued thereunder. Notwithstanding the preceding sentence, the Company may amend the Plan to the extent permitted by the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. <u>Headings</u>. The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered in construing the terms and provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. <u>Gender and Number</u>. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27. <u>Notice</u>. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Participant, as the case may be, at the addresses set forth below, or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith:

&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. Notice to the Company shall be addressed and delivered as follows:

Firefly Neuroscience, Inc.

[______________]

&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. Notice to the Participant shall be addressed and delivered to the most recent address in the Company's records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28. <u>Clawback</u>. The Participant acknowledges, understands and agrees, with respect to any shares of Common Stock registered in the Participant's name (or delivered to the Participant) pursuant to this Agreement, that such shares of Common Stock shall be subject to recovery by the Company, and the Participant shall be required to repay such compensation or shares of Common Stock, in accordance with the Company's Compensation Adjustment and Recovery Policy, as in effect from time to time. The Participant further acknowledges, understands, and agrees that the Board retains the right to modify the Company's Compensation Adjustment and Recovery Policy at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29. <u>Tax Requirements</u>. **The Participant is hereby advised to consult immediately with the Participant**'**s own tax advisor regarding the tax consequences of this Agreement.** The Company or, if applicable, any Subsidiary (for purposes of this <u>Section 29</u>, the term "*Company*" shall be deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts hereunder paid in cash or other form, any federal, state, local, or other taxes required by law to be withheld in connection with this Award. The Company may, in its sole discretion, also require the Participant receiving shares of Common Stock issued under the Plan to pay the Company the amount of any taxes that the Company is required to withhold in connection with the Participant's income arising with respect to this Award. Such payments shall be required to be made when requested by the Company and may be required to be made prior to the delivery of any certificate representing shares of Common Stock. Such payment may be made by (a) the delivery of cash to the Company in an amount that equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding obligations of the Company; (b) if the Company, in its sole discretion, so consents in writing, the actual delivery by the exercising Participant to the Company of shares of Common Stock other than (i) Restricted Stock, or (ii) Common Stock that the Participant has not acquired from the Company within six months prior to the date of exercise, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding payment; (c) if the Company, in its sole discretion, so consents in writing, the Company's withholding of a number of shares to be delivered upon the exercise of the Stock Option other than shares that will constitute Restricted Stock, which shares so withheld have an aggregate fair market value that equals (but does not exceed) the required tax withholding payment; or (d) any combination of (a), (b), or (c). The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant.

## Exhibit 99.6

**Exhibit 99.6**

**Deferred Stock Unit Agreement**

This Deferred Stock Unit Agreement (this "**Agreement**") is made and entered into as of _______________ (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and ______________ (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Other Awards may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of deferred stock units ("**DSUs**") provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Deferred Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Pursuant to Section 6.8 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, ________ Deferred Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Each DSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The DSUs shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the "**Account**"). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

2. <u>Consideration</u>. The grant of the DSUs is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the DSUs will vest in accordance with the following schedule:

---

| | |
|:---|:---|
| **Vesting Date** | **Number of DSUs That Vest** |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF DSUs THAT VEST ON THE VESTING DATE] |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF DSUs THAT VEST ON THE VESTING DATE] |

---

Once vested, the DSUs become "**Vested DSUs**". "**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise specifically provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's death, or Total and Permanent Disability, at any time before all of his or her DSUs have vested, the Grantee's unvested DSUs shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any affiliate shall have any further obligations to the Grantee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates prior to the Vesting Date as a result of the Grantee's death, or Total and Permanent Disability, 100% of the unvested DSUs shall immediately vest on the date of the Grantee's termination of Continuous Service.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, until such time as the DSUs are delivered in accordance with Section 6 hereof, the DSUs or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the DSUs or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the DSUs will be forfeited by the Grantee and all of the Grantee's rights to such DSUs shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Stockholder; Dividend Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall not have any rights of a shareholder with respect to the shares of Common Stock underlying the DSUs unless and until the DSUs vest and are settled by the delivery of such shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Upon and following the delivery of the DSUs, the Grantee shall be the record owner of the shares of Common Stock underlying the DSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If during the period the Grantee holds any DSUs granted under this Agreement the Company pays a cash dividend with respect to the shares of Common Stock, the Grantee's Account shall be credited with an additional number of DSUs having a value equal to the cash dividends that would have been paid to the Grantee if one share of Common Stock had been issued on the Grant Date for each DSU granted to the Grantee as set forth in this Agreement ("**Dividend Equivalents**"), based on the Fair Market Value of a share of Common Stock on the applicable dividend payment date and rounded down to the nearest whole share. Any such additional DSUs shall be considered DSUs under this Agreement and shall also be credited with additional DSUs as cash dividends, if any, are declared and shall be subject to the same restrictions and conditions as the DSUs with respect to which they were credited.

6. <u>Delivery of DSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Subject to Section 9 hereof, the delivery date of the DSUs shall be the earliest administratively practicable date following the vesting of any DSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code), unless delivery is deferred pursuant to Section 6.2 hereof. On the delivery date, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested DSUs and cash equal to any Dividend Equivalents credited with respect to such Vested DSUs and the interest thereon, if any; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Notwithstanding Section 6.1 hereof, the Grantee may elect to defer the delivery of the DSUs beyond the Grantee's Termination of Service. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.

7. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

8. <u>Adjustments</u>. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the DSUs shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

9. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the DSUs and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the DSUs; *provided, however*, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the DSUs or the subsequent sale of any shares; and (b) does not commit to structure the DSUs to reduce or eliminate the Grantee's liability for Tax-Related Items.

10. <u>Compliance with Law</u>. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

12. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

13. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

14. <u>DSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the DSUs may be transferred by will or the laws of descent or distribution.

16. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

17. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the DSUs in this Agreement does not create any contractual right or other right to receive any DSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

18. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the DSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

19. <u>Section 409A</u>. This Agreement is intended to comply with Section 409A of the Code and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.

20. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

21. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Stock or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: |  |
|  | Name: |
|  | Title: |

---

Address:

---

| |
|:---|
| **<u>GRANTEE</u>:** |
| (Signature) |
| (Name) |

---

Address:

## Exhibit 99.11

**Exhibit 99.11**

**Deferred Stock Unit Agreement**

This Deferred Stock Unit Agreement (this "**Agreement**") is made and entered into as of October 28, 2025 (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and Arun Menawat (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Other Awards may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of deferred stock units ("**DSUs**") provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Deferred Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Pursuant to Section 6.8 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, 73,892 Deferred Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Each DSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The DSUs shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the "**Account**"). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

2. <u>Consideration</u>. The grant of the DSUs is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the DSUs will vest in accordance with the following schedule:

---

| | | |
|:---|:---|:---|
| **Vesting Date** | **Number of<br> DSUs That<br> Vest** | **Number of<br> DSUs That<br> Vest** |
| January 28, 2026 |  | 18473 |
| April 28, 2026 |  | 18473 |
| July 28, 2026 |  | 18473 |
| October 28, 2026 |  | 18473 |

---

Once vested, the DSUs become "**Vested DSUs**". "**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise specifically provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's death, or Total and Permanent Disability, at any time before all of his or her DSUs have vested, the Grantee's unvested DSUs shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any affiliate shall have any further obligations to the Grantee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates prior to the Vesting Date as a result of the Grantee's death, or Total and Permanent Disability, 100% of the unvested DSUs shall immediately vest on the date of the Grantee's termination of Continuous Service.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, until such time as the DSUs are delivered in accordance with Section 6 hereof, the DSUs or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the DSUs or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the DSUs will be forfeited by the Grantee and all of the Grantee's rights to such DSUs shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Stockholder; Dividend Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall not have any rights of a shareholder with respect to the shares of Common Stock underlying the DSUs unless and until the DSUs vest and are settled by the delivery of such shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Upon and following the delivery of the DSUs, the Grantee shall be the record owner of the shares of Common Stock underlying the DSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If during the period the Grantee holds any DSUs granted under this Agreement the Company pays a cash dividend with respect to the shares of Common Stock, the Grantee's Account shall be credited with an additional number of DSUs having a value equal to the cash dividends that would have been paid to the Grantee if one share of Common Stock had been issued on the Grant Date for each DSU granted to the Grantee as set forth in this Agreement ("**Dividend Equivalents**"), based on the Fair Market Value of a share of Common Stock on the applicable dividend payment date and rounded down to the nearest whole share. Any such additional DSUs shall be considered DSUs under this Agreement and shall also be credited with additional DSUs as cash dividends, if any, are declared and shall be subject to the same restrictions and conditions as the DSUs with respect to which they were credited.

6. <u>Delivery of DSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Subject to Section 9 hereof, the delivery date of the DSUs shall be the earliest administratively practicable date following the vesting of any DSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code), unless delivery is deferred pursuant to Section 6.2 hereof. On the delivery date, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested DSUs and cash equal to any Dividend Equivalents credited with respect to such Vested DSUs and the interest thereon, if any; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Notwithstanding Section 6.1 hereof, the Grantee may elect to defer the delivery of the DSUs beyond the Grantee's Termination of Service. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.

7. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

8. <u>Adjustments</u>. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the DSUs shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

9. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the DSUs and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the DSUs; *provided, however*, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the DSUs or the subsequent sale of any shares; and (b) does not commit to structure the DSUs to reduce or eliminate the Grantee's liability for Tax-Related Items.

10. <u>Compliance with Law</u>. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

12. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

13. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

14. <u>DSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the DSUs may be transferred by will or the laws of descent or distribution.

16. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

17. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the DSUs in this Agreement does not create any contractual right or other right to receive any DSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

18. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the DSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

19. <u>Section 409A</u>. This Agreement is intended to comply with Section 409A of the Code and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.

20. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

21. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Stock or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | | |
|:---|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: | /s/ Greg Lipschitz | /s/ Greg Lipschitz |
|  | Name: | Greg Lipschitz |
|  | Title: | Chief Executive Officer |

---

---

| | |
|:---|:---|
| Address: | 1100 Military Road |
|  | Kenmore, NY 14217 |
| **<u>GRANTEE</u>:** | **<u>GRANTEE</u>:** |
| /s/ Arun Menawat | /s/ Arun Menawat |
| (Signature) | (Signature) |
| Arun Menawat | Arun Menawat |
| (Name) | (Name) |
| Address: | |

---

## Exhibit 99.12

**Exhibit 99.12**

**Deferred Stock Unit Agreement**

This Deferred Stock Unit Agreement (this "**Agreement**") is made and entered into as of October 28, 2025 (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and Brian Posner (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Other Awards may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of deferred stock units ("**DSUs**") provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Deferred Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Pursuant to Section 6.8 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, 49,262 Deferred Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Each DSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The DSUs shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the "**Account**"). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

2. <u>Consideration</u>. The grant of the DSUs is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the DSUs will vest in accordance with the following schedule:

---

| | |
|:---|:---|
| **Vesting Date** | **Number of<br> DSUs That<br> Vest** |
| January 28, 2026 | 12315 |
| April 28, 2026 | 12315 |
| July 28, 2026 | 12316 |
| October 28, 2026 | 12316 |

---

Once vested, the DSUs become "**Vested DSUs**". "**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise specifically provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's death, or Total and Permanent Disability, at any time before all of his or her DSUs have vested, the Grantee's unvested DSUs shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any affiliate shall have any further obligations to the Grantee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates prior to the Vesting Date as a result of the Grantee's death, or Total and Permanent Disability, 100% of the unvested DSUs shall immediately vest on the date of the Grantee's termination of Continuous Service.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, until such time as the DSUs are delivered in accordance with Section 6 hereof, the DSUs or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the DSUs or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the DSUs will be forfeited by the Grantee and all of the Grantee's rights to such DSUs shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Stockholder; Dividend Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall not have any rights of a shareholder with respect to the shares of Common Stock underlying the DSUs unless and until the DSUs vest and are settled by the delivery of such shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Upon and following the delivery of the DSUs, the Grantee shall be the record owner of the shares of Common Stock underlying the DSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If during the period the Grantee holds any DSUs granted under this Agreement the Company pays a cash dividend with respect to the shares of Common Stock, the Grantee's Account shall be credited with an additional number of DSUs having a value equal to the cash dividends that would have been paid to the Grantee if one share of Common Stock had been issued on the Grant Date for each DSU granted to the Grantee as set forth in this Agreement ("**Dividend Equivalents**"), based on the Fair Market Value of a share of Common Stock on the applicable dividend payment date and rounded down to the nearest whole share. Any such additional DSUs shall be considered DSUs under this Agreement and shall also be credited with additional DSUs as cash dividends, if any, are declared and shall be subject to the same restrictions and conditions as the DSUs with respect to which they were credited.

6. <u>Delivery of DSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Subject to Section 9 hereof, the delivery date of the DSUs shall be the earliest administratively practicable date following the vesting of any DSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code), unless delivery is deferred pursuant to Section 6.2 hereof. On the delivery date, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested DSUs and cash equal to any Dividend Equivalents credited with respect to such Vested DSUs and the interest thereon, if any; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Notwithstanding Section 6.1 hereof, the Grantee may elect to defer the delivery of the DSUs beyond the Grantee's Termination of Service. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.

7. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

8. <u>Adjustments</u>. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the DSUs shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

9. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the DSUs and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the DSUs; *provided, however*, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the DSUs or the subsequent sale of any shares; and (b) does not commit to structure the DSUs to reduce or eliminate the Grantee's liability for Tax-Related Items.

10. <u>Compliance with Law</u>. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

12. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

13. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

14. <u>DSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the DSUs may be transferred by will or the laws of descent or distribution.

16. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

17. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the DSUs in this Agreement does not create any contractual right or other right to receive any DSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

18. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the DSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

19. <u>Section 409A</u>. This Agreement is intended to comply with Section 409A of the Code and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.

20. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

21. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Stock or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | | |
|:---|:---|:---|
| **<u>COMPANY:</u>** | **<u>COMPANY:</u>** | **<u>COMPANY:</u>** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: | /s/ Greg Lipschitz | /s/ Greg Lipschitz |
|  | Name: | Greg Lipschitz |
|  | Title: | Chief Executive Officer |

---

Address: <u>1100 Military Road</u> <br> <u>Kenmore, NY 14217</u> <br>  

---

| |
|:---|
| **<u>GRANTEE</u>:** |
| /s/ Brian Posner |
| (Signature) |
| Brian Posner |
| (Name) |

---

Address:

## Exhibit 99.13

**Exhibit 99.13**

**Deferred Stock Unit Agreement**

This Deferred Stock Unit Agreement (this "**Agreement**") is made and entered into as of October 28, 2025 (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and Stella Vnook (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Other Awards may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of deferred stock units ("**DSUs**") provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Deferred Stock Units</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Pursuant to Section 6.8 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, 49,262 Deferred Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Each DSU represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. The DSUs shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the "**Account**"). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.

2. <u>Consideration</u>. The grant of the DSUs is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, the DSUs will vest in accordance with the following schedule:

---

| | | |
|:---|:---|:---|
| **Vesting Date** | **Number of<br> DSUs That<br> Vest** | **Number of<br> DSUs That<br> Vest** |
| January 28, 2026 |  | 12315 |
| April 28, 2026 |  | 12315 |
| July 28, 2026 |  | 12316 |
| October 28, 2026 |  | 12316 |

---

Once vested, the DSUs become "**Vested DSUs**". "**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise specifically provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's death, or Total and Permanent Disability, at any time before all of his or her DSUs have vested, the Grantee's unvested DSUs shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any affiliate shall have any further obligations to the Grantee under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates prior to the Vesting Date as a result of the Grantee's death, or Total and Permanent Disability, 100% of the unvested DSUs shall immediately vest on the date of the Grantee's termination of Continuous Service.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, until such time as the DSUs are delivered in accordance with Section 6 hereof, the DSUs or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the DSUs or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the DSUs will be forfeited by the Grantee and all of the Grantee's rights to such DSUs shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Stockholder; Dividend Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall not have any rights of a shareholder with respect to the shares of Common Stock underlying the DSUs unless and until the DSUs vest and are settled by the delivery of such shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Upon and following the delivery of the DSUs, the Grantee shall be the record owner of the shares of Common Stock underlying the DSUs unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If during the period the Grantee holds any DSUs granted under this Agreement the Company pays a cash dividend with respect to the shares of Common Stock, the Grantee's Account shall be credited with an additional number of DSUs having a value equal to the cash dividends that would have been paid to the Grantee if one share of Common Stock had been issued on the Grant Date for each DSU granted to the Grantee as set forth in this Agreement ("**Dividend Equivalents**"), based on the Fair Market Value of a share of Common Stock on the applicable dividend payment date and rounded down to the nearest whole share. Any such additional DSUs shall be considered DSUs under this Agreement and shall also be credited with additional DSUs as cash dividends, if any, are declared and shall be subject to the same restrictions and conditions as the DSUs with respect to which they were credited.

6. <u>Delivery of DSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. Subject to Section 9 hereof, the delivery date of the DSUs shall be the earliest administratively practicable date following the vesting of any DSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code), unless delivery is deferred pursuant to Section 6.2 hereof. On the delivery date, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested DSUs and cash equal to any Dividend Equivalents credited with respect to such Vested DSUs and the interest thereon, if any; and (b) enter the Grantee's name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. Notwithstanding Section 6.1 hereof, the Grantee may elect to defer the delivery of the DSUs beyond the Grantee's Termination of Service. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.

7. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

8. <u>Adjustments</u>. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the DSUs shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

9. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the DSUs and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the DSUs; *provided, however*, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the DSUs or the subsequent sale of any shares; and (b) does not commit to structure the DSUs to reduce or eliminate the Grantee's liability for Tax-Related Items.

10. <u>Compliance with Law</u>. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

12. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

13. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

14. <u>DSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

15. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the DSUs may be transferred by will or the laws of descent or distribution.

16. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

17. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the DSUs in this Agreement does not create any contractual right or other right to receive any DSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

18. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the DSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

19. <u>Section 409A</u>. This Agreement is intended to comply with Section 409A of the Code and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.

20. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

21. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Stock or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: | /s/ Greg Lipschitz |
|  | Name: Greg Lipschitz |
|  | Title: Chief Executive Officer |

---

Address: <u>1100 Military Road</u> <br> <u>Kenmore, NY 14217</u> <br>  

---

| |
|:---|
| **<u>GRANTEE</u>:** |
| /s/ Stella Vnook |
| (Signature) |
| Stella Vnook |
| (Name) |

---

Address:

## Exhibit 99.14

**Exhibit 99.14**

**RESTRICTED STOCK UNIT AWARD AGREEMENT**

This Restricted Stock Unit Award Agreement (this "**Agreement**") is made and entered into as of _______________ (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and ______________ (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Restricted Stock Units may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of Restricted Stock Units provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Restricted Stock Units</u>. Pursuant to Section 6.6 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Award for _________ Restricted Stock Units (the "**RSUs**"), on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan. Each RSU represents the right to receive one share of Common Stock upon vesting of such RSU.

2. <u>Consideration</u>. The grant of the RSUs is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. The RSUs will vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth below, subject to the Grantee's Continuous Service through the applicable vesting dates, as a condition to the vesting of the applicable installment of the RSUs and the rights and benefits under this Agreement. The RSUs which have vested and are no longer subject to forfeiture are referred to as "**Vested RSUs**." All RSUs which have not become Vested RSUs are referred to as "**Nonvested RSUs**."

---

| | |
|:---|:---|
| **Vesting Date** | **Number of RSUs** |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. Except as otherwise provided herein, if the Grantee's Continuous Service terminates for any reason other than the Grantee's (a) death, (b) Total and Permanent Disability, (c) retirement, or (d) termination by the Company without Cause, any Nonvested RSUs will be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and the Grantee, or the Grantee's beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

"**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. In the event of the Grantee's death, Total and Permanent Disability, retirement, or termination by the Company without Cause, all Nonvested RSUs shall become fully vested and no longer such just to forfeiture upon the date of such event.

4. <u>Payment Upon Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. As soon as administratively practicable following the vesting of any RSUs pursuant to Section 3 hereof, but in no event later than sixty (60) days after such vesting date (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code), the Company shall deliver to the Grantee (or any transferee permitted under Section 5 hereof) a number of shares of Common Stock (the "**Shares**"), either by delivering one or more certificates for such shares or by entering such Shares in book entry form, as determined by the Company in its sole discretion, equal to the number of RSUs subject to this award that vest on the applicable vesting date, unless such RSUs terminate prior to the given vesting date pursuant to Section 3 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. Notwithstanding anything to the contrary in this Agreement, the Company shall be entitled to require payment by the Grantee of any sums required by applicable law to be withheld with respect to the grant of RSUs or the issuance of Shares. Such payment shall be made by deduction from other compensation payable to the Grantee or in such other form of consideration acceptable to the Company which may, in the sole discretion of the Committee, include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) cash or check;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) surrender of Shares (including, without limitation, shares otherwise issuable under the RSUs) held for such period of time as may be required by the Committee in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the minimum amount required to be withheld by statute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) other property acceptable to the Committee (including, without limitation, through the delivery of a notice that the Grantee has placed a market sell order with a broker with respect to Shares then issuable under the RSUs, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of its withholding obligations; provided that payment of such proceeds is then made to the Company at such time as may be required by the Company, but in any event not later than the settlement of such sale).

The Company shall not be obligated to deliver any new certificate representing Shares to the Grantee or the Grantee's legal representative or enter such share in book entry form unless and until the Grantee or the Grantee's legal representative shall have paid or otherwise satisfied in full the amount of all federal, state, local or foreign taxes applicable to the taxable income of the Grantee resulting from the grant or vesting of the RSUs or the issuance of shares.

5. <u>Conditions to Delivery of Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Subject to Section 3, the Shares deliverable hereunder, or any portion thereof, may be either previously authorized but unissued Shares or issued Shares which have then been reacquired by the Company. Such Shares shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any Shares deliverable hereunder or portion thereof prior to fulfillment of all of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The admission of such Shares to listing on all stock exchanges on which such Shares are then listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The completion of any registration or other qualification of such Shares under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The receipt by the Company of full payment for such Shares, including payment of any applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 4 hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The lapse of such reasonable period of time following the vesting of any RSUs as the Committee may from time to time establish for reasons of administrative convenience.

6. <u>No Rights as Stockholder</u>. The holder of the RSUs shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of the RSUs and any Shares underlying the RSUs and deliverable hereunder unless and until such Shares shall have been issued by the Company and held of record by such holder. No adjustment will be made for a dividend or other right for which the record date is prior to the date of such entry.

7. <u>Grant is Not Transferable</u>. During the lifetime of Grantee, the RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed. Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of the Grantee or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

8. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

9. <u>Compliance with Law</u>. The Grantee acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, state and applicable foreign securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

10. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

11. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

12. <u>RSUs Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

13. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the RSUs may be transferred by will or the laws of descent or distribution.

14. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

15. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the RSUs in this Agreement does not create any contractual right or other right to receive any RSUs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's Continuous Service with the Company.

16. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the RSUs, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

17. <u>No Impact on Other Benefits</u>. The value of the Grantee's RSUs is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

18. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

19. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the RSUs subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the RSUs or disposition of the Shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

20. <u>Grantee Undertaking</u>. The Grantee hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Grantee pursuant to the express provisions of this Agreement.

21. <u>Section 409A</u>. The RSUs are intended to be exempt from Section 409A of the Code and this Agreement shall be administered and interpreted in accordance with such intent. The Committee reserves the right to unilaterally amend this Agreement without the consent of the Grantee solely for the purpose of maintaining an exclusion from the application of, or to maintain compliance with, Section 409A of the Code; and the Grantee hereby acknowledges and consents to such rights of the Committee. The Grantee shall be informed within two (2) business days of such an amendment.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: |  |
|  | Name: |
|  | Title: |
| Address: | Address: |

---

---

| |
|:---|
| **<u>GRANTEE</u>:** |
| (Signature) |
| (Name) |
| Address: |
| SSN: |

---

## Exhibit 99.19

**Exhibit 99.19**

**RESTRICTED STOCK AWARD AGREEMENT**

This Restricted Stock Award Agreement (this "**Agreement**") is made and entered into as of _______________ (the "**Grant Date**") by and between Firefly Neuroscience, Inc., a Delaware corporation (the "**Company**"), and ______________ (the "**Grantee**").

**WHEREAS**, the Company has adopted the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended by Amendment No.1 to the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan (the "**Plan**") pursuant to which awards of Restricted Stock may be granted; and

**WHEREAS**, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of Restricted Stock provided for herein.

**NOW, THEREFORE**, the parties hereto, intending to be legally bound, agree as follows:

1. <u>Grant of Restricted Stock</u>. Pursuant to Section 6.4 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Stock Award consisting of, in the aggregate, _________ shares of Common Stock of the Company (the "**Restricted Stock**"), on the terms and conditions and subject to the restrictions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.

2. <u>Consideration</u>. The grant of the Restricted Stock is made in consideration of the services to be rendered by the Grantee to the Company.

3. <u>Restricted Period; Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. Except as otherwise provided herein, provided that the Grantee remains in Continuous Service through the applicable vesting date, and further provided that any additional conditions and performance goals set forth in Schedule I have been satisfied, the Restricted Stock will vest in accordance with the following schedule:

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| | |
|:---|:---|
| **Vesting Date** | **Shares of Common Stock** |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |
| [VESTING DATE] | [NUMBER OR PERCENTAGE OF SHARES THAT VEST ON THE VESTING DATE] |

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The period over which the Restricted Stock vests is referred to as the "**Restricted Period**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. The foregoing vesting schedule notwithstanding, if the Grantee's Continuous Service terminates for any reason at any time before all of his or her Restricted Stock has vested other than death or retirement (in the case of an Outside Director), termination of the Grantee's Continuous Service is terminated by the Company or an affiliate for Total and Permanent Disability, the Grantee's unvested Restricted Stock shall be automatically forfeited upon such termination of Continuous Service and neither the Company nor any affiliate shall have any further obligations to the Grantee under this Agreement. "**Continuous Service**" means that the Grantee's service with the Company or an affiliate, whether as an Employee, key Contractors or Outside Director, is not interrupted or terminated. The Grantee's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or an affiliate as an Employee, key Contractors or Outside Director or a change in the entity for which the Grantee renders such service, provided that there is no interruption or termination of the Grantee's Continuous Service; provided further that if any Award is subject to Section 409A of the Code, this sentence shall only be given effect to the extent consistent with Section 409A of the Code. For example, a change in status from an Employee of the Company to an Outside Director of an affiliate will not constitute an interruption of Continuous Service unless otherwise required by Section 409A of the Code. The Committee or its delegate, in its sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal or family leave of absence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. The foregoing vesting schedule notwithstanding, in the event of the Grantee's death or if the Grantee's Continuous Service is terminated by the Company or an affiliate for Total and Permanent Disability, 100% of the unvested Restricted Stock shall vest as of the date of such termination.

4. <u>Restrictions</u>. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period, the Restricted Stock or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock or the rights relating thereto during the Restricted Period shall be wholly ineffective and, if any such attempt is made, the Restricted Stock will be forfeited by the Grantee and all of the Grantee's rights to such shares shall immediately terminate without any payment or consideration by the Company.

5. <u>Rights as Stockholder; Dividends</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. The Grantee shall be the record owner of the Restricted Stock until the shares of Common Stock are sold or otherwise disposed of, and shall be entitled to all of the rights of a stockholder of the Company including, without limitation, the right to vote such shares and receive all dividends or other distributions paid with respect to such shares. Notwithstanding the foregoing, any dividends or other distributions shall be subject to the same restrictions on transferability as the shares of Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. The Company may issue stock certificates or evidence the Grantee's interest by using a restricted book entry account with the Company's transfer agent. Physical possession or custody of any stock certificates that are issued may be retained by the Company until such time as the Restricted Stock vests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. If the Grantee forfeits any rights he or she has under this Agreement in accordance with Section 3, the Grantee shall, on the date of such forfeiture, no longer have any rights as a stockholder with respect to the Restricted Stock and shall no longer be entitled to vote or receive dividends on such shares.

6. <u>No Right to Continued Service</u>. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, key Contractors or Outside Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's Continuous Service at any time, with or without Cause.

"**Cause**" means:

With respect to any Employee or key Contractor: (a) if the Employee or key Contractor is a party to an employment or service agreement with the Company or its affiliates and such agreement provides for a definition of Cause, the definition contained therein; or (b) if no such agreement exists, or if such agreement does not define Cause: (i) the commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

With respect to any Outside Director, a determination by a majority of the disinterested Board members that the Outside Director has engaged in any of the following: (a) malfeasance in office; (b) gross misconduct or neglect; (c) false or fraudulent misrepresentation inducing the director's appointment; (d) willful conversion of corporate funds; or (e) repeated failure to participate in Board meetings on a regular basis despite having received proper notice of the meetings in advance.

The Committee, in its absolute discretion, shall determine the effect of all matters and questions relating to whether a Grantee has been discharged for Cause.

7. <u>Adjustments</u>. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the shares of Common Stock shall be adjusted or terminated in any manner as contemplated by Section 11 of the Plan.

8. <u>Tax Liability and Withholding</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1. The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Restricted Stock and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes. The Committee may permit the Grantee to satisfy any federal, state or local tax withholding obligation by any of the following means, or by a combination of such means: (a) tendering a cash payment; (b) authorizing the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable or deliverable to the Grantee as a result of the vesting of the Restricted Stock; *provided, however*, that no shares of Common Stock shall be withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (c) delivering to the Company previously owned and unencumbered shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding ("**Tax-Related Items**"), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant or vesting of the Restricted Stock or the subsequent sale of any shares; and (b) does not commit to structure the Restricted Stock to reduce or eliminate the Grantee's liability for Tax-Related Items.

9. <u>Section 83(b) Election</u>. The Grantee may make an election under Code Section 83(b) (a "**Section 83(b) Election**") with respect to the Restricted Stock. Any such election must be made within thirty (30) days after the Grant Date. If the Grantee elects to make a Section 83(b) Election, the Grantee shall provide the Company with a copy of an executed version and satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The Grantee agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

10. <u>Compliance with Law</u>. The issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Grantee understands that the Company is under no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.

11. <u>Legends</u>. A legend may be placed on any certificate(s) or other document(s) delivered to the Grantee indicating restrictions on transferability of the shares of Restricted Stock pursuant to this Agreement or any other restrictions that the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any applicable federal or state securities laws or any stock exchange on which the shares of Common Stock are then listed or quoted.

12. <u>Notices</u>. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of the Company at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to time.

13. <u>Governing Law</u>. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.

14. <u>Interpretation</u>. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

15. <u>Restricted Stock Subject to Plan</u>. This Agreement is subject to the Plan as approved by the Company's stockholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

16. <u>Successors and Assigns</u>. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock may be transferred by will or the laws of descent or distribution.

17. <u>Severability</u>. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.

18. <u>Discretionary Nature of Plan</u>. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Restricted Stock in this Agreement does not create any contractual right or other right to receive any Restricted Stock or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with the Company.

19. <u>Amendment</u>. The Committee has the right to amend, alter, suspend, discontinue or cancel the Restricted Stock, prospectively or retroactively; *provided, that*, no such amendment shall adversely affect the Grantee's material rights under this Agreement without the Grantee's consent.

20. <u>No Impact on Other Benefits</u>. The value of the Grantee's Restricted Stock is not part of his normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

21. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

22. <u>Acceptance</u>. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the grant or vesting of the Restricted Stock or disposition of the shares and that the Grantee has been advised to consult a tax advisor prior to such grant, vesting or disposition.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

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| | |
|:---|:---|
| **<u>COMPANY</u>:** | **<u>COMPANY</u>:** |
| **Firefly Neuroscience, Inc.** | **Firefly Neuroscience, Inc.** |
| By: |  |
|  | Name: |
|  | Title: |
| Address: | Address: |

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| |
|:---|
| **<u>GRANTEE</u>:** |
| (Signature) |
| (Name) |
| Address: |
| SSN: |

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## Ex-Filing

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

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**FIREFLY NEUROSCIENCE, INC.**

**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 | Common Stock, par value $0.0001 per share | (1) | Other | 317820 | $1.67 | $530760.00 | 0.0001381 | $73.30 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $530760.00 |  | 73.30 |
| 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: |  |  | $73.30 |

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**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), there is also being registered hereby such indeterminate number of additional shares of common stock, par value $0.0001 per share ("common stock"), as may be issued or issuable because of stock splits, stock dividends and similar transactions. Represents 317,820 additional shares of common stock available for issuance under the Firefly Neuroscience, Inc. 2024 Long-Term Incentive Plan, as amended. Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(c) and 457(h) under the Securities Act based upon the average of the high and low sale prices of the common stock on November 13, 2025, as reported on the Nasdaq Capital Market.