Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1317

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 7
Chunk 1317
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 be taken: (i) at our Compensation Committee’s
discretion, all options and SARs will become exercisable fifteen days before the change of control (with any exercise of an option
or SAR during such fifteen day period to be contingent upon the consummation of the change of control) and terminate upon the change
of control to the extent not exercised; and/or (ii) at our Compensation Committee’s discretion, all options, SARs, shares
of restricted stock, restricted stock units, deferred stock units, dividend equivalent rights and/or performance-based awards will
be canceled and cashed out in connection with the change of control. Other equity-based awards will be governed by the terms of
the applicable award agreement.

52

If we experience a change of
control in which outstanding awards that are not exercised prior to the change of control will be assumed or continued by the surviving
entity, then, except as otherwise provided in the applicable award agreement, in another agreement with the grantee, or as otherwise set
forth in writing, upon the occurrence of the change of control, the 2024 Plan and the awards granted under the 2024 Plan will continue
in the manner and under the terms so provided in the event of the change of control to the extent that provision is made in writing in
connection with such change of control for the assumption or continuation of such awards, or for the substitution for such awards with
new awards, with appropriate adjustments as to the number of shares (disregarding any consideration that is not common stock) and exercise
prices of options and SARs.

Plan Amendment and Termination

The Compensation Committee
may adopt, amend and rescind rules relating to the administration of the 2024 Plan, and our board of directors may amend, suspend, or
terminate the 2024 Plan at any time; provided, that, no such amendment or termination will be made that materially and adversely impairs
the rights of any participant with respect to any award granted under the 2024 Plan without the participant’s consent, other than
amendments that are necessary to permit the granting of awards in compliance with applicable laws. The 2024 Plan will automatically terminate
the day before the tenth (10th) anniversary of the Plan Effective Date, unless earlier terminated by our board of directors
or in accordance with the terms of the 2024 Plan.

New Plan Benefits

All awards to be made under
the 2024 Plan are discretionary