Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 514

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 514
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 such as misappropriation of funds, personal profit from Company transactions, misrepresentation, legal violations, acts
involving moral turpitude or unethical conduct, disloyalty including aiding a competitor, failure to devote full-time efforts to the
Company, not working exclusively for the Company, non-cooperation in investigations, breaches of the employment agreement or the
Company rules, and any other act of misconduct or omission. The agreement includes covenants for non-disclosure, non-solicitation,
and non-competition. For two years post-termination, Ms. Feng agrees not to solicit the Company’s customers or engage in
competing business activities within New York State. Ms. Feng will not receive any additional compensation as a director in
addition to her compensation as the Chief Financial Officer of the Company.

Outstanding Option Awards

As of March 31, 2025,
there were no option or stock awards outstanding.

Employee Benefit Plans

2024 Plan

On May 3, 2024, our
Board approved the Fly-E Group Inc. 2024 Omnibus Incentive Plan, subject to stockholder approval. On February 10, 2025, our
Board approved Amendment No. 1 of the plan (“Amendment No. 1”) to increase the number of shares available for grant under
the plan and add a provision providing for an automatic increase to the plan’s share reserve every year, commencing on April 1,
2026, and continuing on the first day of each of the Company’s fiscal years through the tenth anniversary of the plan’s effective
date (the 2024 Omnibus Incentive Plan, as amended by Amendment No. 1, the “2024 Plan”). On March 10, 2025, the
Company’s stockholders approved and adopted the 2024 Plan.

The following is a summary of the material terms
of the 2024 Plan. 

Plan Administration

The 2024 Plan will be administered
by our Compensation Committee. Our board of directors will retain the authority under the 2024 Plan to exercise any or all of the powers
and authorities related to the administration and implementation of the 2024 Plan.

50

Award Eligibility

Awards under the 2024 Plan
may be made to our or any of our affiliates’ employees, officers and directors, as well as to consultants and advisors currently
providing services to us or any of our affiliates at the time of