Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 30

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 30
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ualified Stock Option (including an Incentive Stock Option that is treated as a Non-Qualified
Stock Option), a stock appreciation right, restricted stock, restricted stock units, performance grants, and stock awards, the Company
will be allowed a deduction in an amount equal to the amount of ordinary income recognized by a participant, provided that certain income
tax reporting requirements are satisfied.

Performance-Based Compensation

Subject to certain exceptions,
Section 162(m) of the Code disallows federal income tax deductions for compensation paid by a publicly-held corporation to certain executives
(generally the five highest paid officers) to the extent the amount paid to an executive exceeds $1 million for the taxable year. The
2023 Plan has been designed to allow the Compensation Committee to grant stock options, stock appreciation rights, restricted stock,
restricted stock units, and performance grants that qualify under an exception to the deduction limit of Section 162(m) for performance-based
compensation.

New Plan Benefits

Awards under the 2023 Plan are
within the discretion of the Administrator. As a result, the benefits that will be awarded under the 2023 Plan, including to our non-employee
directors, are not determinable at this time.

| 19 |

Existing Plan Benefits to Named Executive Officers and Others

The following table summarizes
the grants made to our named executive officers (as identified under “Executive Compensation”, below), all current executive
officers as a group, all current non-executive directors as a group and all current non-executive employees as a group, from the inception
of the 2023 Plan through December 31, 2023. The closing price per share of our common stock on December 29, 2023 was $0.0006.

| Name and Position(1)                                                                                |     | RSA Granted Since Adoption of the 2023 Plan |           |
| Chan Sze Yu, Chief Executive Officer, Chief Financial Officer, Secretary and Director               |     |                                             |           |
| Man Chung CHAN, Former Chief Executive Officer, Chief Financial Officer, Secretary and Director (1) |     |                                             |         – |
| Tee Soo TAN, Former Director (2)                                                                    |     |                                             |         – |
| All current executive officers and directors (1 person)                                             |     |                                             |         – |
| All employees, including all officers who are not executive officers, as a group (47 persons)(3)    |     |                                             | 5,644,