Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 45

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 9A
Chunk 45
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any, provided to certain executives who, during a three-year period preceding the date on which an accounting restatement is required,
received incentive compensation based on the erroneous financial data that exceeds the amount of incentive-based compensation the executive
would have received based on the restatement.

Our
Clawback Policy shall be administered by our Compensation Committee, and the Compensation Committee has the authority, in accordance
with the applicable laws, rules and regulations, to interpret and make determinations necessary for the administration of the Clawback
Policy, and may forego recovery in certain instances, including if it determines that recovery would be impracticable. The full text
of our Clawback Policy is included as Exhibit 97.1 to this annual report.

Nonqualified
Deferred Compensation

We
do not maintain any nonqualified deferred compensation plans.

Defined
Contribution Plan

We
do not currently have a defined contribution plan.

Stock
Option and Other Employee Benefit Plans

The
purpose of the 2019 Plan is to advance the interests of our stockholders by enhancing our ability to attract, retain and motivate persons
who are expected to make important contributions and by providing such persons with equity ownership opportunities and performance-based
incentives that are intended to better align the interests of such persons with those of our stockholders.

62

2019
Stock Incentive Plan

History.
On December 2, 2019, the Board of Directors approved and on December 3, 2019, the stockholders approved the 2019 stock incentive plan
(the “2019 Plan”) under which employees, officers, directors and consultants are eligible to receive grants of stock options,
stock appreciation rights (“SAR”), restricted or unrestricted stock awards, restricted stock units, performance awards, other
stock-based awards, or any combination of the foregoing. The Plan authorizes up to 10,000,000 shares of our common stock for stock-based
awards.

Administration.
The 2019 Plan is administered by the Board of Directors or the committee or committees as may be appointed by the Board of Directors
from time to time (the “Administrator”). The Administrator determines the persons who are to receive awards, the types of
awards to be granted, the number of shares subject to each such award and the terms and conditions of such awards. The Administrator
also has the authority to interpret the provisions of the 2019 Plan and of any awards granted there under and to modify awards granted
under the 2019 Plan. The Administrator may not