Company: MVNC
Filing Date: 2025-01-10
Form Type: PRE 14C
Source: 0001683168-25-000215
Chunk: 25

Company: Marvion Inc.
Filing Date: 2025-01-10
Form: PRE 14C
Chunk 25
---
, once vested and free
of any restrictions, may be transferred at will.

Stock options granted under the
2023 Plan generally may be exercised for a period of three months after the termination of the optionee’s service to us, except
in the case of death or permanent disability, in which case the options may be exercised for up to twenty four months following termination
of the optionee’s service to us. Unless otherwise set forth in a participant’s award agreement, vesting of RSUs, RSAs, SARs,
performance awards and stock bonus awards ceases on such participant’s termination of service.

Change of Control or Other Corporate Transactions

If we experience a change in control
transaction, outstanding awards, including any vesting provisions, may be assumed or substituted by the successor company. Outstanding
awards that are not assumed or substituted may, at the discretion of the Committee, be accelerated, replaced with other rights or property
of similar value, be terminated and replaced by cash or the terms and conditions of such outstanding awards (including adjustments to
the exercise price) may be otherwise equitably adjusted.

In the event there is a specified
type of change in our capital structure without our receipt of consideration, such as a stock split, appropriate adjustments will be made
to the number of Shares reserved under the 2023 Plan, the maximum number of Shares that can be granted in a calendar year, and the number
of Shares and exercise price, if applicable, of all outstanding awards under the 2023 Plan.

| 17 |

Repricing

The Board and the Administrator
may not take action to impair the rights of a participant with respect to any outstanding award without the consent of the participant.
Further, the Board nor the Committee may not, without approval of the stockholders of the Company, or except as provided under Paragraph
XIII of the 2023 Plan, (a) increase the maximum aggregate number of shares that may be issued under the Plan, (b) reduce the price per
share 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