Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 304

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 304
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 December 20, 2023.

  (2)
  Carlos Sardinas entered into an Offer Letter Agreement with
the Company on April 8, 2024.

61

Summary
Compensation Table

The
following table reflects compensation paid or awarded to our named executive officers during the fiscal years ended December 31, 2024
and 2023.

SUMMARY
COMPENSATION TABLE

(1)Carlos
                                            Sardinas entered into an Offer Letter Agreement with the Company on April 8, 2024.

Grants
of Plan-Based Awards

In
July 2022, Tim Schick, CFA, was granted 25,000 Incentive Stock Options with four-year vesting and an exercise price of $5.00. Those options
were cancelled in connection with the termination of employment agreement with the Company dated March 27, 2023. There have not been
any additional awards under out 2019 Plan.

Jade
Barnell received on 02/27/2024, 17008 Common Stock Shares under a compensation agreement.

Outstanding
Equity Awards

There
were no outstanding equity awards held by our named executive officers as of December 31, 2024.

Clawback
Policy

In
November 2023, our Board of Directors adopted a policy regarding the recovery of erroneously awarded compensation (“Clawback Policy”)
in accordance with the applicable rules of Nasdaq and Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended.
In the event we are required to prepare an accounting restatement due to material noncompliance with any financial reporting requirements
under U.S. securities laws or otherwise erroneous data or if we determine there has been a significant misconduct that causes material
financial, operational or reputational harm, we shall be entitled to recover a portion or all of any incentive-based compensation, if
any, provided to certain executives who, during a three-year period preceding the date on which an accounting restatement is required,
received incentive compensation based on the erroneous financial data that exceeds the amount of incentive-based compensation the executive
would have received based on the restatement.

Our
Clawback Policy shall be administered by our Compensation Committee, and the Compensation Committee has the authority, in accordance
with the applicable laws, rules and regulations, to interpret and make determinations necessary for the administration of the Clawback
Policy, and may forego recovery in certain instances