Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 30

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 30
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2022 Incentive Plan and outstanding awards. The Administrator may allow a participant to defer the receipt of payment of cash or delivery
of shares that otherwise would be due to such participant. The Administrator may make rules and regulations relating to sub-plans established
for the purpose of facilitating compliance with applicable non-U.S. laws, easing administration of the 2022 Incentive Plan, or qualifying
for favorable tax treatment under applicable non-U.S. laws and may make all other determinations deemed necessary or advisable for administering
the 2022 Incentive Plan. The Administrator may temporarily suspend the exercisability of an award if the Administrator deems such suspension
to be necessary or appropriate for administrative purposes or to comply with applicable laws. The Administrator may not institute an exchange
program under which (i) outstanding awards are surrendered or cancelled in exchange for awards of the same type (which may have a
higher or lower exercise price and/or different terms), awards of a different type and/or cash, (ii) which participants have the
opportunity to transfer outstanding awards to a financial institution or other person or entity selected by the Administrator, or (iii) the
exercise price of an outstanding award is reduced unless our shareholders approve an amendment to the 2022 Incentive Plan that permits
such an exchange program (or to the limited extent determined necessary by the Administrator to avoid diminution or enlargement of awards
following corporate transactions such as stock dividends or stock splits).

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Eligibility

Awards may be granted to employees, directors and
consultants of ours and employees and consultants of any parent or subsidiary corporation of MicroVision. Incentive stock options may
be granted only to employees who, as of the time of grant, are employees of MicroVision or any parent or subsidiary corporation. As of
March 31, 2025, approximately 180 employees, six non-employee directors, and 0 consultants were eligible to participate
in the 2022 Incentive Plan and there were 186 award holders under the 2022 Incentive Plan and 11 award holders under the terminated 2020
Incentive Plan. As of March 31, 2025, the closing price of a share of our common stock as reported on The Nasdaq Global Market
was $1.24.

Stock Options

Each option granted under the 2022 Incentive Plan
will be evidenced by a written or electronic agreement between the company and a participant specifying the number of