Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 33

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 33
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 the grant of a restricted stock unit award,
the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout and may accelerate
the time at which any restrictions will lapse or be removed. A participant will forfeit any unearned restricted stock units as of the
date set forth in the award agreement.

Stock Appreciation Rights

A stock appreciation right gives a participant the
right to receive the appreciation in the fair market value of our common stock between the date of grant of the award and the date of
its exercise. Each stock appreciation right granted under the 2022 Incentive Plan will be evidenced by a written or electronic agreement
between the company and the participant specifying the exercise price and the other terms and conditions of the award, consistent with
the requirements of the 2022 Incentive Plan.

The exercise price per share of each stock appreciation
right may not be less than the fair market value of a share on the date of grant. Upon exercise of a stock appreciation right, the holder
of the award will be entitled to receive an amount determined by multiplying (i) the difference between the fair market value of
a share on the date of exercise over the exercise price by (ii) the number of exercised shares. The company may pay the appreciation
in cash, in shares, or in some combination thereof. The term of a stock appreciation right will be set forth in the award agreement but
will not be more than 10 years. The terms and conditions relating to the period of exercise following a cessation of service with respect
to options described above also apply to stock appreciation rights.

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Performance Awards

Performance awards may also be granted under the 2022
Incentive Plan. Performance awards are awards that will result in a payment to a participant only if the performance goals or other vesting
criteria (if any) the Administrator may establish are achieved or the awards otherwise vest. Each award of performance awards granted
under the 2022 Incentive Plan will be evidenced by a written or electronic agreement between the company and the participant specifying
the performance period and other terms and conditions of the award, consistent with the requirements of the 2022 Incentive Plan. Earned
performance awards will be paid, in the sole discretion of the Administrator, in the form of cash, shares, or in a combination thereof.
The Administrator may set vesting criteria based upon the achievement of specific performance objectives, including company-wide, divisional,