Company: MVNC
Filing Date: 2025-04-25
Form Type: 10-K
Source: 0001683168-25-002807
Chunk: 7

Company: Marvion Inc.
Filing Date: 2025-04-25
Form: 10-K
Item: Item 12
Chunk 7
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 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 Plan will terminate in
September 2033 (ten years following the date the Board approved the amendment and restatement of the Plan), unless it is terminated earlier
by the Board. The Board may amend or terminate the Plan at any time, which may be without shareholder approval, unless required by applicable
law or listing standards.

 53 

Federal Income Tax Consequences

The following is a brief summary
of the federal income tax consequences applicable to awards granted under the 2012 Plan based on federal income tax laws in effect on
the date of this Information Statement.

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 for which the
Company is not entitled to a deduction. However, if the optionee exercises an ISO and satisfies the holding period requirements, the Company
may not deduct any amount in connection with the ISO. If a sale or disposition of shares acquired with the ISO occurs after the holding
period, the employee will recognize long-term capital gain or loss at the time of sale equal to the difference between proceeds realized
and the