Company: NEOV
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007811
Chunk: 22

Company: NeoVolta Inc.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 22
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will receive awards under the 2019 Plan, determine the form and amount of each of the awards to be granted and establish the terms and
conditions of awards.

Limit on Non-Employee Director Compensation. Under the 2019 Plan, the following limits apply to non-employee directors. The aggregate value of all compensation granted
or paid, as applicable, to any individual for service as a non-employee director with respect to any calendar year, including awards granted
under the 2019 Plan and cash fees paid to such non-employee director, will not exceed $300,000 in total value. For purposes of these limitations,
the value of awards is calculated based on the grant date fair value of such awards for financial reporting purposes.

Number of Shares of Common Stock. The number of shares of the common stock that may be issued under the 2019 Plan, as amended, is currently 7,500,000. If there
is a lapse, forfeiture, expiration, termination or cancellation of any award made under the 2019 Plan for any reason, the shares subject
to the award will again be available for issuance. Any shares subject to an award that are delivered to us by a participant, or withheld
by us on behalf of a participant, as payment for an award or payment of withholding taxes due in connection with an award will not again
be available for issuance, and all such shares will count toward the number of shares issued under the 2019 Plan. The number of shares
of common stock issuable under the 2019 Plan is subject to adjustment, in the event of any reorganization, recapitalization, stock split,
stock distribution, merger, consolidation, split-up, spin-off, combination, subdivision, consolidation or exchange of shares, any change
in the capital structure of the company or any similar corporate transaction. In each case, the Committee has the discretion to make adjustments
it deems necessary to preserve the intended benefits under the 2019 Plan. No award granted under the 2019 Plan may be transferred, except
by will, the laws of descent and distribution.

Eligibility. All employees
designated as key employees for purposes of the 2019 Plan, all non-employee directors and consultants are eligible to receive awards under
the 2019 Plan.

Awards to Participants.
The 2019 Plan provides for discretionary awards of stock options, stock awards, stock unit awards and stock appreciation rights to participants.
Each award made under the 2019 Plan will be