Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 27

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 27
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 of any outstanding Option or Stock Appreciation Right granted under the Plan, or (c) cancel any outstanding Option or Stock Appreciation
Right in exchange for cash or another Award when the per share price of the Option or Stock Appreciation Right exceeds the fair market
value of the underlying shares of Common Stock.

Amendment and Termination

The 2023 Plan will terminate in
September 2033 (ten years following the date the Board approved the amendment and restatement of the 2023 Plan), unless it is terminated
earlier by the Board. The Board may amend or terminate the 2023 Plan at any time, which may be without shareholder approval, unless required
by applicable law or listing standards.

Federal Income Tax Consequences

The following is a brief summary
of the federal income tax consequences applicable to awards granted under the 2023 Plan based on federal income tax laws in effect on
the date of this Information Statement. The rules governing the tax treatment of such awards are quite technical, so the following discussion
of tax consequences is necessarily general in nature and is not complete. In addition, statutory provisions are subject to change, as
are their interpretations, and their application may vary in individual circumstances. Finally, this discussion does not address the tax
consequences under applicable state and local law.

This summary is not intended to
be exhaustive and does not address all matters that may be relevant to a particular participant. The summary does not discuss the tax
laws of any state, municipality, or foreign jurisdiction, or gift, estate, excise, payroll, or other tax laws other than federal income
tax law. The following is not intended or written to be used, and cannot be used, for the purposes of avoiding taxpayer penalties. Because
circumstances may vary, we advise all participants to consult their own tax advisors under all circumstances.

Incentive Stock Options (ISOs).
An optionee generally realizes no taxable income upon the grant or exercise of an ISO. However, the exercise of an ISO may result in an
alternative minimum tax liability to the employee. With some exceptions, a disposition of shares purchased under an ISO within two years
from the date of grant or within one year after exercise produces ordinary income to the optionee equal to the value of the shares at
the time of exercise less the exercise price. The same amount is deductible by the Company as compensation, provided that the Company
reports the income to the optionee. Any additional gain recognized in the disposition is treated as a capital gain