Company: MVNC
Filing Date: 2025-02-11
Form Type: S-8
Source: 0001683168-25-000906
Chunk: 4

Company: Marvion Inc.
Filing Date: 2025-02-11
Form: S-8
Chunk 4
---
ation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction
determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity
for such expenses as the court deems proper.

| 4 |

Subsection 3 of Section
78.7502 of the Nevada RSA further provides that any discretionary indemnification under Section 78.7502, unless ordered by a court or
advanced under subsection 2 of Nevada RSA 78.751, may be made by a corporation only as authorized in each specific case upon a determination
that indemnification of a director, officer, employee or agent is proper under the circumstances. The determination must be made by: (i)
the stockholders; (ii) the board of directors by majority vote of a quorum consisting of directors who were not parties to the action,
suit or proceeding; or (iii) independent legal counsel, in a written opinion, if a majority vote of a quorum consisting of directors who
were not parties to the action, suit or proceeding so orders, or if a quorum consisting of directors who were not parties to the action,
suit or proceeding cannot be obtained.

Section 78.751 of the Nevada
RSA provides that a corporation shall indemnify any person who is a director, officer, employee or agent of a corporation to the extent
such person has been successful on the merits or otherwise in defense of (i) any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative, including, without limitation, an action by or in the right of the corporation,
by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other
enterprise, or (ii) any claim, issue or matter therein, against expenses actually and reasonably incurred by such person in connection
with defending the action, including, without limitation, attorney’s fees. Unless otherwise restricted by a corporation’s
articles of incorporation, bylaws or other agreement, the corporation may pay the expenses of officers and directors incurred in defending
a civil or criminal action, suit or proceeding as they are incurred and in advance of the final disposition of the action, suit or proceeding,
upon receipt of an undertaking by or on behalf