Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 10

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 10
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 certain MDAI’s proprietary items.

We charged all related development
costs to expenses as incurred and recognized as “Technology and development expenses” in the unaudited condensed consolidated
statement of operations. During the year ended December 31, 2023, we incurred the related development fee of $0.

We have not adopted policies
or procedures for approval of related person transactions but review them on a case-by-case basis. We believe that all related party transactions
were on terms at least as favorable as we would have secured in arm’s-length transactions with third parties. Except as set forth
above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five
percent or more of our common stock, or family members of such persons.

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<div align='center'>CORPORATE GOVERNANCE</div>

Director Independence

Our board of directors currently
consists of CHAN Sze Yu, our Chief Executive Officer, Chief Financial Officer and Secretary, who does not qualify as an independent director
under the published listing requirements of the NASDAQ Stock Market. As of the date hereof, we have not adopted a standard of independence
nor do we have a policy with respect to independence requirements for our board members or that a majority of our board be comprised of
“independent directors.”

Board Meetings

During fiscal year 2023, our
Board held acted by written consent 1 time. No director attended less than 75 percent of
our Board or committee meetings of which they were members. The work of the Company’s directors is performed not only at meetings
of the Board, but also by consideration of the Company’s significant business decisions through the review of documents and in numerous
communications among Board members and others.

Director Attendance at Annual Meeting

We have not yet developed a policy
regarding director attendance at annual meetings of the stockholders. We expect all current directors to attend our future annual stockholders
meeting.

Committees of Our Board

We have not yet established Compensation,
Audit, and Nominations and Corporate Governance committees nor do we have an Audit Committee financial expert as defined in Item 407(d)(5)
of Regulation S-K promulgated under the Securities Act. Currently, the functions of these committees are performed by our entire Board
of Directors. We hope to establish these committees and appoint an Audit Committee financial expert as our business develops.

Consideration of Director Nominees

Our policy is to consider properly
submitted shareholder nominations