Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 140

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 140
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by a committee to which administration of the Plan, or of part of thereof, is delegated by the Board. The 2021 Plan is currently administered
by our Compensation Committee, which we refer to below as the “Administrator.” The Administrator is responsible for selecting
the officers, employees, directors, consultants and advisers who will receive Options, Stock Appreciation Rights and Stock Awards. Subject
to the requirements imposed by the 2021 Plan, the Administrator is also responsible for determining the terms and conditions of each Option
and Stock Appreciation Right award, including the number of shares subject to the Option, the exercise price, expiration date and vesting
period of the Option and whether the option is an Incentive Option or a Non-Qualified Option. Subject to the requirements imposed by the
2021 Plan, the Administrator is also responsible for determining the terms and conditions of each Stock Award, including the number of
shares granted, the purchase price (if any), and the vesting, transfer and other restrictions imposed on the stock. The Administrator
has the power, authority and discretion to make all other determinations deemed necessary or advisable for the administration of the 2021
Plan or of any award under the 2021 Plan.

Neither the Board nor any committee of the Board to
which administration of the 2021 Plan is delegated will provide advice to participants about whether or not to accept or exercise their
awards. Each participant must make his or her own decision about whether or not to accept or exercise an award.

The 2021 Plan is not subject to the Employee Retirement
Income Security Act of 1974 and is not a qualified pension, profit sharing or bonus plan under Section 401(a) of the Internal Revenue
Code.

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Stock Subject to the 2021 Plan

Subject to the provisions of the 2021 Plan relating
to adjustments upon changes in common stock, an aggregate of 10,000,000 shares of common stock has been reserved and is currently subject
to outstanding awards, including stock settled appreciation rights, or future awards under the 2021 Plan.

If awards granted under the 2021 Plan expire or otherwise
terminate or are cancelled without being exercised in full, the shares of common stock not acquired pursuant to such awards will again
become available for issuance under the 2021 Plan. If shares of common stock issued pursuant to awards under the 2021 Plan are forfeited
to or repurchased by us, the forfeited or repurchased stock will