SEC Contract Filing

Filing Date: 2024-02-29

Document Content:
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<TYPE>EX-10.1
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<FILENAME>ex_631955.htm
<DESCRIPTION>EXHIBIT 10.1
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<p style="margin: 0px 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;; text-align: right;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: small-caps; margin: 0pt; text-align: center;"><b>Vaxart, Inc.</b><br>
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<b>2024 Inducement Award Plan</b><br>
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<b>Adopted by the Board of Directors: February 27, 2024</b></p>

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 <p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;"><b>1.</b><b> </b></p>
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 <p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: justify;"><font style="font-variant:small-caps;"><b>General.</b></font></p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(a)</b><b> &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eligible Award Recipients.</b> The only persons eligible to receive grants of Stock Awards under this Plan are Employees who satisfy the standards for inducement grants under NASDAQ Listing Rule 5635(c)(4). Specifically, each Employee is eligible to participate in the Plan only if (i) the Employee has not previously been an Employee, or is commencing employment with the Company or an Affiliate following a bona fide period of non-employment by the Company or an Affiliate, (ii) he or she is granted a Stock Award in connection with his or her commencement of employment with the Company or an Affiliate and (iii) such grant is a material inducement to his or her entering into employment with the Company or an Affiliate (&#8220;<b><i>Eligible Employees</i></b>&#8221;). A person who previously served as an Employee or Director will not be eligible to receive Stock Awards under the Plan, other than following a bona fide period of non-employment. Stock Awards granted to Eligible Employees must be approved by either a majority of the Company&#8217;s &#8220;<b><i>Independent Directors</i></b>&#8221; (as such term is defined in NASDAQ Listing Rule 5605(a)(2)) or the Company&#8217;s compensation committee, provided such committee is comprised solely of Independent Directors (the &#8220;<b><i>Independent Compensation Committee</i></b>&#8221;) in order to comply with the exemption from the stockholder approval requirement for &#8220;inducement grants&#8221; provided under Rule 5635(c)(4) of the NASDAQ Listing Rules. NASDAQ Listing Rule 5635(c)(4) is referred to in this Plan as the &#8220;<b><i>Inducement Award Rules</i></b>&#8221;.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(b)</b><b>&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Available Awards.</b> The Plan provides for the grant of the following Awards: (i) Nonstatutory Stock Options, (ii) Stock Appreciation Rights (iii) Restricted Stock Awards, (iv) Restricted Stock Unit Awards, (v) Performance Stock Awards, and (vi) Other Stock Awards.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(c)</b><b>&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purpose.</b> This Plan, through the granting of Stock Awards, is intended to provide (i) a material inducement for certain individuals to enter into employment with the Company within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules, (ii) incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate and (iii) a means by which Eligible Employees may be given an opportunity to benefit from increases in value of the Common Stock through the granting of Stock Awards.</p>

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 <p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-variant:small-caps;"><b>Administration.</b></font></p>
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