Company: MVNC
Filing Date: 2025-04-25
Form Type: 10-K
Source: 0001683168-25-002807
Chunk: 4

Company: Marvion Inc.
Filing Date: 2025-04-25
Form: 10-K
Item: Item 12
Chunk 4
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 Director,
the number of shares subject to such an Award, and the value of such an Award; provided, however, that the Committee may not delegate
its authority to grant discretionary (non-routine) Awards to Directors. The Committee may delegate to the Chief Executive Officer or one
or more other senior officers of the Company its administrative functions under this Plan with respect to the Awards. Any delegation described
in this paragraph shall contain such limitations and restrictions as the Committee may provide and shall comply in all respects with the
requirements of applicable law, including the Nevada Revised Statutes. The Committee may engage or authorize the engagement of a third
party administrator or administrators to carry out administrative functions under the Plan.

 51 

Eligibility

The Plan provides for the
grant of awards to our employees, directors, consultants, independent contractors, and advisors, provided the consultants, independent
contractors, directors, and advisors render services not in connection with the offer and sale of securities in a capital-raising transaction.
As of December 31, 2024, all of our 13 employees (including each of our executive officers)
were eligible to participate in the Plan. The basis for participation in the Plan is the Administrator’s decision, in its sole
discretion, that an award to an eligible participant will further the Plan’s purposes of providing incentives to attract, retain
and motivate eligible persons whose present and potential contributions are important to our success and the success of our affiliates,
by offering them an opportunity to participate in our future performance through the grant of awards. In exercising its discretion, the
Administrator will consider the recommendations of management and the purposes of the Plan.

Forms of Awards

The following is a description
of the types of awards permitted to be issued under the Plan. As of the date of this report, the Company had issued an aggregate of 37,075,060
shares of common stock pursuant to the Plan. No other awards had been issued under the Plan.

Stock Options. The
Plan provides for the grant of incentive stock options that qualify under Section 422 of the Code only to our employees. All awards other
than incentive stock options, including awards of non-qualified stock options, may be granted to our employees, directors, consultants,
independent contractors, and advisors, provided the consultants, independent contractors, and advisors render services not in connection
with the offer and sale of securities in a capital-raising transaction. The exercise price of each stock option must be at least equal
to the fair market value of