Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 129

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 10
Chunk 129
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 or performance criteria shall be deemed
achieved at target levels and all other terms and conditions met, with award payout prorated for the portion of the performance period
completed as of the change in control and payment to occur within 45 days of the change in control; (iii) all restrictions and conditional
applicable to any restricted stock award shall lapse; (iv) all restrictions and conditions applicable to any restricted stock units shall
lapse and payment shall be made within 45 days of the change in control; and (v) all other awards shall be delivered or paid within 45
days of the change in control.

Other
Provisions. The option grant and exercise agreements authorized under the 2019 Plan, which may be different for each option, may
contain such other provisions as the Administrator deems advisable, including without limitation, (i) restrictions upon the exercise
of the option and (ii) a right of repurchase in favor of us to repurchase unvested shares held by an optionee upon termination of the
optionee’s employment at the original purchase price.

Amendment
and Termination of the 2019 Plan. The Administrator, to the extent permitted by law, and with respect to any shares at the time not
subject to awards, may suspend or discontinue the 2019 Plan or amend the 2019 Plan in any respect; provided that the Administrator may
not, without approval of the stockholders, amend the 2019 Plan in a manner that requires stockholder approval.

Director
Compensation

Under
our non-employee director compensation policy adopted in November 2023, our independent directors in 2024 are paid $30,000 per year in
cash compensation and will receive in 2025 a yet to be determined number shares of restricted stock. Additionally, the Company
will reimburse them for their reasonable expenses incurred in connection with attending our board of directors and committee meetings.
In the future, we may also grant stock options to our independent directors.

64

Limitation
of Liability and Indemnification

Our
certificate of incorporation provides that we are authorized to provide indemnification and advancement of expenses to our directors,
officers and other agents to the fullest extent permitted by Delaware General Corporation Law.

In
addition, our certificate of incorporation limits the personal liability of directors for breach of fiduciary duty to the maximum extent
permitted by the Delaware General Corporation Law and provides that no director will have personal liability to us or to our stockholders