Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 147

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 147
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 an exercise price that is
less than the fair market value of a Class A Ordinary Share in exchange for cash, or cancel any option or SAR in exchange for options,
SARs or other awards with an exercise price per share that is less than the exercise price per share of the options or SARs for which
such new options or SARS are exchanged.

Amendment and Termination. Our Board may
amend, suspend, or terminate the 2023 Plan at any time; provided that no amendment (other than an amendment that increases the number
of shares reserved for issuance under the 2023 Plan, is permitted by the applicable award agreement or is made pursuant to applicable
law) may materially and adversely affect any outstanding awards under the 2023 Plan without the affected participant’s consent.
To the extent necessary to comply with applicable laws, shareholder approval will be required for any amendment to the 2023 Plan to increase
the aggregate number of Ordinary Shares that may be issued under the 2023 Plan (other than due to adjustments as a result of share dividends,
reclassifications, share splits, consolidations or other similar corporate transactions and, for the avoidance of doubt, not including
Ordinary Shares automatically added to the Overall Share Limit pursuant to the terms of the 2023 Plan (as described above in the section
titled “ Overall Share Limit”). In addition, shareholder approval will be required for any amendment to increase the
aggregate fair value of awards granted to a non-employee director during any fiscal year.

Foreign Participants, Claw-Back Provisions
and Transferability. The plan administrator may modify award terms, establish sub-plans and/or adjust other terms and conditions of
awards, subject to the share limits described above, in order to facilitate grants of awards subject to the laws and/or securities exchange
rules of countries outside of the United States. All awards will be subject to any company claw-back policy as set forth in such claw-back
policy or the applicable award agreement. Awards under the 2023 Plan are generally non-transferrable, except for certain beneficiary designations,
by will or the laws of descent and distribution, or, subject to the plan administrator’s consent, pursuant to a domestic relations
order, and are generally exercisable only by the participant.

2020 Incentive Plan

2020 Incentive Plan originally became effective
on December 9, 2020, upon its adoption by the Marti board of directors and approval of its shareholders. No further awards have