Company: MVNC
Filing Date: 2025-04-25
Form Type: 10-K
Source: 0001683168-25-002807
Chunk: 6

Company: Marvion Inc.
Filing Date: 2025-04-25
Form: 10-K
Item: Item 12
Chunk 6
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vests, is exercised, is distributed or expires, as determined by the Committee. Such Dividend Equivalents will be converted to cash or
additional shares of Common Stock by such formula and at such time and subject to such restrictions and limitations as may be determined
by the Committee.

Additional Provisions

Awards granted under the Plan
may not be transferred in any manner other than by will or by the laws of descent and distribution, pursuant to a qualified domestic relations
order, or if vested, with the consent of the Committee. Notwithstanding the foregoing, Restricted Stock, once vested and free of any restrictions,
may be transferred at will.

Stock options granted under
the Plan generally may be exercised for a period of three months after the termination of the optionee’s service to us, except in
the case of death or permanent disability, in which case the options may be exercised for up to twenty four months following termination
of the optionee’s service to us. Unless otherwise set forth in a participant’s award agreement, vesting of RSUs, RSAs, SARs,
performance awards and stock bonus awards ceases on such participant’s termination of service.

Change of Control or Other Corporate Transactions

If we experience a change
in control transaction, outstanding awards, including any vesting provisions, may be assumed or substituted by the successor company.
Outstanding awards that are not assumed or substituted may, at the discretion of the Committee, be accelerated, replaced with other rights
or property of similar value, be terminated and replaced by cash or the terms and conditions of such outstanding awards (including adjustments
to the exercise price) may be otherwise equitably adjusted.

In the event there is a specified
type of change in our capital structure without our receipt of consideration, such as a stock split, appropriate adjustments will be made
to the number of Shares reserved under the Plan, the maximum number of Shares that can be granted in a calendar year, and the number of
Shares and exercise price, if applicable, of all outstanding awards under the Plan.

Repricing

The Board and the Administrator
may not take action to impair the rights of a participant with respect to any outstanding award without the consent of the participant.
Further, the Board nor the Committee may not, without approval of the stockholders of the Company, or except as provided under Paragraph
XIII of the Plan, (a) increase the maximum aggregate number of shares that may be issued under the Plan, (b) reduce the price per share
of any outstanding Option or