Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 434

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1A
Chunk 434
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 such other provisions as the Administrator deems advisable, including without limitation, (i) restrictions upon the exercise
of the option and (ii) a right of repurchase in favor of us to repurchase unvested shares held by an optionee upon termination of the
optionee’s employment at the original purchase price.

Amendment
and Termination of the 2019 Plan. The Administrator, to the extent permitted by law, and with respect to any shares at the time not
subject to awards, may suspend or discontinue the 2019 Plan or amend the 2019 Plan in any respect; provided that the Administrator may
not, without approval of the stockholders, amend the 2019 Plan in a manner that requires stockholder approval.

Director
Compensation

Under
our non-employee director compensation policy adopted in November 2023, our independent directors in 2024 are paid $30,000 per year in
cash compensation and will receive in 2025 a yet to be determined number shares of restricted stock. Additionally, the Company
will reimburse them for their reasonable expenses incurred in connection with attending our board of directors and committee meetings.
In the future, we may also grant stock options to our independent directors.

64

Limitation
of Liability and Indemnification

Our
certificate of incorporation provides that we are authorized to provide indemnification and advancement of expenses to our directors,
officers and other agents to the fullest extent permitted by Delaware General Corporation Law.

In
addition, our certificate of incorporation limits the personal liability of directors for breach of fiduciary duty to the maximum extent
permitted by the Delaware General Corporation Law and provides that no director will have personal liability to us or to our stockholders
for monetary damages for breach of fiduciary duty or other duty as a director. However, these provisions do not eliminate or limit the
liability of any of our directors for:

    ●
    any
    breach of the director’s duty of loyalty to the corporation or its stockholders;

    ●
    any
    act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

    ●
    unlawful
    payments of dividends or unlawful stock repurchases or redemptions; or

    ●
    any
    transaction from which the director derived an improper personal benefit.

Any
amendment to or repeal of these provisions will not eliminate or reduce the effect of these provisions in respect of any act, omission
or claim that