Company: NEOV
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007811
Chunk: 24

Company: NeoVolta Inc.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 24
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, multiplied by
(2) the number of shares of common stock with respect to which the stock appreciation right is exercised. The Committee has the discretion
to set the terms and conditions applicable to the award, including the number of shares subject to the stock appreciation right and the
vesting schedule, provided that each stock appreciation right will expire not more than ten years from the date of grant and no dividends
or dividend equivalents shall be paid with respect to any stock appreciation right prior to the exercise of the stock appreciation right.

Stock Awards. The Committee
has the discretion to grant stock awards to participants. Stock awards will consist of shares of common stock granted without any consideration
from the participant or shares sold to the participant for appropriate consideration as determined by the Board. The number of shares
awarded to each participant, and the restrictions, terms and conditions of the award, will be at the discretion of the Committee. Subject
to the restrictions, a participant will be a shareholder with respect to the shares awarded to him or her and will have the rights of
a shareholder with respect to the shares, including the right to vote the shares and receive dividends on the shares; provided that dividends
otherwise payable on any stock award subject to restrictions will be held by us and will be paid to the holder of the stock award only
to the extent the restrictions on such stock award lapse.

Stock Units. The Committee
has the discretion to grant stock unit awards to participants. Each stock unit entitles the participant to receive, on a specified date
or event set forth in the award agreement, one share of common stock or cash equal to the fair market value of one share on such date
or event, as provided in the award agreement. The number of stock units awarded to each participant, and the terms and conditions of the
award, will be at the discretion of the Committee. Unless otherwise specified in the award agreement, a participant will not be a shareholder
with respect to the stock units awarded to him prior to the date they are settled in shares of common stock. The award agreement may provide
that until the restrictions on the stock units lapse, the participant will be paid an amount equal to the dividends that would have been
paid had the stock units been actual shares; provided that such dividend equivalents will be held by us and paid only to the extent the
restrictions lapse.

Payment for Stock Options and Withholding Taxes. The Committee may make one or more of the following methods available for payment of any award, including the
exercise price of a