Company: MVNC
Filing Date: 2025-01-10
Form Type: PRE 14C
Source: 0001683168-25-000215
Chunk: 23

Company: Marvion Inc.
Filing Date: 2025-01-10
Form: PRE 14C
Chunk 23
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 the Plan.

Eligibility

The 2023 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, 2023, all of our 47 employees (including each of our executive officers) were eligible to participate in the 2023 Plan.
The basis for participation in the 2023 Plan is the Administrator’s decision, in its sole discretion, that an award to an eligible
participant will further the 2023 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 2023 Plan.

Forms of Awards

The following is a description
of the types of awards permitted to be issued under the 2023 Plan. As of the date of this report, the Company had issued an aggregate
of 5,644,744 shares of common stock pursuant to the 2023 Plan. No other awards had been issued under the 2023 Plan.

Stock Options. The 2023
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 our common stock on the date of grant. The exercise price of incentive stock options granted to 10% stockholders
must be at least equal to 110% of that value. The maximum term of options granted under the 2023 Plan is seven years or, in the case of
an incentive stock option granted to 10% stockholders, five years.

Restricted Stock Award.An RSA is an offer by us to sell Shares subject to restrictions. The price, if any, of an RSA will be determined by the Administrator.
These awards are subject to forfeiture