Company: MVNC
Filing Date: 2025-04-25
Form Type: 10-K
Source: 0001683168-25-002807
Chunk: 3

Company: Marvion Inc.
Filing Date: 2025-04-25
Form: 10-K
Item: Item 12
Chunk 3
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 the exercise
price or tax withholding on an award). The number of Shares reserved for grant and issuance under the Plan increases automatically on
January 1 of each of the calendar years during the term of the Plan, which will continue through and including September 11, 2033, by
a number of Shares equal to the lesser of (i) 2.5% of the number of shares of Common Stock issued and outstanding on each December 31
immediately prior to the date of increase or (ii) such number of Shares determined by the Board; provided, however, that such limitation
may be increased subject to approval by the Company’s stockholders (the “Evergreen Feature”). As a result of the Evergreen
Feature, as of January 1, 2025, we had 48,502,735 shares reserved for grant and issuance under the Plan.

The Plan authorizes the award
of RSUs, stock options, RSAs, RSU’s, SARs, performance awards and other stock based awards and dividend equivalents (each as more
fully described below). No person will be eligible to receive more than 4,000,000,000 Shares in any 12 month period under the Plan. The
maximum fair market value, as determined on the date of grant, of Awards granted for services as a Director during any twelve (12)-month
period shall not exceed $2,000,000. Any awards in Shares or cash that are made outside of the Plan and permitted by applicable listing
requirements are not subject to these limitations.

Administration

The Plan is administered by
our Compensation Committee of the Board or such other committee, if any, that may be designated by the Board to administer the Plan (the
“Administrator”). The Administrator has the authority to construe and interpret the Plan, select participants and grant awards,
and make all other determinations necessary or advisable for the administration of the Plan. The Committee may delegate to the Board or
to one or more other committees of the Board comprised of one or more independent Directors the authority to grant Awards to Employees
who are not subject to Section 16(b) of the Exchange Act. Further, the Committee may delegate to the Governance Committee of the Board
the authority to make non-discretionary (routine) Awards to Directors, including to determine which Director shall receive an Award, the
time or times when such an Award shall be made, the terms and conditions of such an Award, the type of Award that shall be made to a