Company: VUZI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040266
Chunk: 42

Company: Vuzix Corp
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 42
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 determined that such indemnitee is not entitled to be indemnified by us under applicable law. If a claim for indemnification under this agreement may not be paid to the indemnitee under applicable law, then in any action in which we are jointly liable with the indemnitee, we are obligated to contribute to the amount of reasonable expenses (including attorneys’ fees and disbursements) actually and reasonably incurred by the indemnitee in proportion to the relative benefits received by us and the indemnitee from the transaction from which such action arose, and our relative fault and that of the indemnitee in connection with the events which resulted in such expenses. The rights of an indemnitee under the form of indemnification agreement are in addition to any other rights that the indemnitee may have under our certificate of incorporation or bylaws, any agreement, or any vote of our stockholders or directors. We are not obligated to make any payment under the form of indemnification agreement to the extent payment is actually made to the indemnitee under an insurance policy or any other method outside of the agreement. PROPOSAL 5 APPROVAL OF AMENDMENT TO OUR CERTIFICATE OF INCORPORATION TO INCREASE OUR AUTHORIZED SHARES OF COMMON STOCK TO 200,000,000 Our Board of Directors has approved, subject to stockholder approval, an amendment to our certificate of incorporation, substantially in the form of Appendix A, to increase our authorized shares of common stock from 100,000,000 to 200,000,000. The increase in our authorized shares of common stock will be effective upon filing of the amendment with the Secretary of State of Delaware, which we intend to do promptly following stockholder approval. Outstanding Shares and Purpose of the Proposal Under our certificate of incorporation, we are currently authorized to issue a maximum of 100,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred stock, par value $0.001 per share. Our issued and outstanding securities, as of April 21, 2025, are as follows:

| ● | 76,242,415 shares of common stock; and |

| ● | 10,367,990 shares of common stock issuable upon exercise of outstanding options with a weighted average 
 exercise price of $12.41.                                                                               |

In addition, on September 3, 2024, we entered into a securities purchase agreement with Quanta Computer Inc. (“Quanta”), for the