Company: MVIS
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001641172-25-005410
Chunk: 55

Company: MICROVISION, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 55
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000 RSUs scheduled to vest at a rate of 33% annually on each anniversary of the grant date over the next three
years, subject to his continued service to the company on each vesting date. The grant value of this RSU award was below the median of
equity compensation awards provided to other CEOs in our peer group.

Mr. Sharma’s compensation is heavily performance
based, being dependent both on short-term financial and non-financial goals and on the long-term performance of the company as reflected
in its stock price. The equity incentives that comprise a significant portion of his pay are far more aligned with shareholder value than
a short-term cash program.

Severance and Change in Control Benefits. The
Board approved, in July 2024, Mr. Sharma’s participation in the company’s Key Executive Severance and Change in Control Plan,
which is described above. As a “Tier 1 Executive,” in the event that he is terminated during the period from three months
before to 18 months after a “Change in Control” for any reason other than by the company for “cause” or his resignation
voluntarily for “good reason,” Mr. Sharma would be entitled to a cash payment equal to 18 months of his base salary, plus
150% of his target bonus, plus the cost of 18 months of premium payments under the Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended, or COBRA, with any such payments subject to timely execution of a release of claims in favor of the company and continued
compliance with any confidentiality or restrictive covenant obligations. In addition, certain of his outstanding and unvested equity awards
will become vested and free of restriction, although if any award requires performance achievement, then vesting will be subject to the
level of performance that has been achieved as of the date of such qualifying termination.

In the event that Mr. Sharma is terminated outside
of the defined change-in-control period and the termination is for any reason other than by the company for “cause” or he
resigns voluntarily for “good reason,” Mr. Sharma would be entitled to a cash payment of cash equal to 18 months of his base
salary, plus 100% of his prorated target bonus, plus the cost of 12 months of premium payments under COBRA, with any such payments subject
to timely execution of a release of claims in favor of the company and continued compliance with any confidentiality or restrictive covenant
oblig