Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 149

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 149
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2020 Incentive Plan, as well as to make adjustments to the number and type of securities
issuable under the 2020 Incentive Plan and the terms and conditions of existing awards, in the event of certain transactions and events
affecting the company’s Ordinary Shares, such as share dividends, reclassifications, share splits, consolidations or other similar
corporate transactions. In the event of a merger or other consolidation relating to Marti or the sale of all or substantially all of Marti’s
shares or assets, all then-outstanding equity awards shall be treated as set forth in the definitive agreement governing such transaction,
which may provide for one or more of the following: (i) the continuation, assumption or substitution of such awards, (ii) the accelerated
vesting and, if applicable, exercisability of such awards (in whole or in part), (iii) the cancellation of such awards in exchange for
cash or equity equal to the intrinsic value of the vested portions of such awards (or, if an award does not have any value, without payment),
(iv) cancellation of such awards upon consummation of the transaction (provided that the holder has the opportunity to exercise the award
prior to such consummation) and/or (v) with respect to options only, termination of any early exercise rights and/or suspension of the
holder’s right to exercise the option for a limited period of time prior to the transaction.

Transferability and Restrictions. With
limited exceptions for transfers by beneficiary designation, by will or by the laws of descent and distribution, awards under the 2020
Incentive Plan are generally non-transferable (unless otherwise determined by the plan administrator) and ISOs are exercisable only by
the participant during his or her lifetime.

Amendment and Termination. Our Board may
amend, suspend or terminate the 2020 Incentive Plan at any time. However, shareholder approval is required for any amendment to the 2020
Incentive Plan to the extent required by applicable law. No further awards have been or will be granted under the 2020 Incentive Plan
following the effectiveness of the 2023 Plan; however, any award under the 2020 Incentive Plan that was outstanding on such date remained
in force according to the terms of the 2020 Incentive Plan and the applicable award agreement.

Director Compensation Program

Effective as of the Closing, the Board adopted
a non-employee director compensation program