Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 618

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1C
Chunk 618
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,000 per year in
cash compensation and will receive in 2025 a yet to be determined number shares of restricted stock. Additionally, the Company
will reimburse them for their reasonable expenses incurred in connection with attending our board of directors and committee meetings.
In the future, we may also grant stock options to our independent directors.

64

Limitation
of Liability and Indemnification

Our
certificate of incorporation provides that we are authorized to provide indemnification and advancement of expenses to our directors,
officers and other agents to the fullest extent permitted by Delaware General Corporation Law.

In
addition, our certificate of incorporation limits the personal liability of directors for breach of fiduciary duty to the maximum extent
permitted by the Delaware General Corporation Law and provides that no director will have personal liability to us or to our stockholders
for monetary damages for breach of fiduciary duty or other duty as a director. However, these provisions do not eliminate or limit the
liability of any of our directors for:

    ●
    any
    breach of the director’s duty of loyalty to the corporation or its stockholders;

    ●
    any
    act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

    ●
    unlawful
    payments of dividends or unlawful stock repurchases or redemptions; or

    ●
    any
    transaction from which the director derived an improper personal benefit.

Any
amendment to or repeal of these provisions will not eliminate or reduce the effect of these provisions in respect of any act, omission
or claim that occurred or arose prior to such amendment or repeal. If the Delaware General Corporation Law is amended to provide for
further limitations on the personal liability of directors of corporations, then the personal liability of our directors will be further
limited to the greatest extent permitted by the Delaware General Corporation Law.

Our
certificate of incorporation also provides that we must indemnify our directors and officers and we must advance expenses, including
attorneys’ fees, to our directors and officers in connection with legal proceedings, subject to very limited exceptions.

We
maintain a general liability insurance policy that covers certain liabilities of our directors and officers arising out of claims based
on acts or omissions in their capacities as directors or officers.

Certain
of our non-employee directors may, through their relationships with their employers, be insured or indemnified against certain liabilities
incurred in their capacity as members of our Board of Directors.

Compensation
Committee Inter