Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 58

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 58
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 important feature of our executive
compensation program.

Severance and Change in Control Benefits. The
Compensation Committee approved, in June 2024, Mr. Verma’s and Ms. Markham’s participation at the Tier 2 level in the company’s
Key Executive Severance and Change in Control Plan, which is described above. As a “Tier 2 Executive,” in the event that he/she
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 voluntarily resigning for “good reason,” he/she would be entitled to a cash payment
equal to 12 months of base salary, plus 100% of target bonus, plus the cost of 12 months of COBRA premium payments, 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/her 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. Verma/Ms. Markham 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 voluntarily resigns for “good reason,” he/she would be entitled to a cash payment of cash equal to 12 months of base salary,
plus 100% of his/her prorated target bonus, plus the cost of 12 months of COBRA premium payments, 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.
There would be no acceleration of vesting of outstanding equity awards, except as otherwise set forth in an applicable award agreement.

Compensation Committee Report

The Compensation Committee has reviewed and discussed
the Compensation Discussion and Analysis for fiscal year 2024 with MicroVision’s management. Based on this review and discussion,
the Compensation Committee recommended to our Board of Directors that the Compensation Discussion and Analysis be included in MicroVision’s
annual report on Form 10-K and proxy statement relating to the 2025 annual meeting of shareholders.

| The Compensation Committee of the Board of Directors |
| Jeffrey Herbst, Chair                                
 Simon Biddiscombe                                    |
| Robert P.