Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 23

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 23
---
 on January 1 of each of the calendar
years during the term of the 2023 Plan, which will continue through and including September 11, 2033, by a number of Shares equal to the
lesser of (i) 2.5% of the number of shares of Common Stock issued and outstanding on each December 31 immediately prior to the date of
increase or (ii) such number of Shares determined by the Board; provided, however, that such limitation may be increased subject to approval
by the Company’s stockholders (the “Evergreen Feature”).

The 2023 Plan authorizes the award
of RSUs, stock options, RSAs, RSU’s, SARs, performance awards and other stock based awards and dividend equivalents (each as more
fully described below). No person will be eligible to receive more than 4,000,000,000 Shares in any 12 month period under the 2023 Plan.
The maximum fair market value, as determined on the date of grant, of Awards granted for services as a Director during any twelve (12)-month
period shall not exceed $2,000,000. Any awards in Shares or cash that are made outside of the 2023 Plan and permitted by applicable listing
requirements are not subject to these limitations.

| 15 |

Administration

The 2023 Plan is administered
by our Compensation Committee of the Board or such other committee, if any, that may be designated by the Board to administer the Plan
(the “Administrator”). The Administrator has the authority to construe and interpret the 2023 Plan, select participants and
grant awards, and make all other determinations necessary or advisable for the administration of the 2023 Plan. The Committee may delegate
to the Board or to one or more other committees of the Board comprised of one or more independent Directors the authority to grant Awards
to Employees who are not subject to Section 16(b) of the Exchange Act. Further, the Committee may delegate to the Governance Committee
of the Board the authority to make non-discretionary (routine) Awards to Directors, including to determine which Director shall receive
an Award, the time or times when such an Award shall be made, the terms and conditions of such an Award, the type of Award that shall
be made to a Director, the number of shares subject to such an Award, and the value of such an Award; provided, however, that the Committee
may not delegate its authority to grant discretionary (