Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 432

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1A
Chunk 432
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isability. Options, restricted shares and SARs become vested and exercisable, as applicable, within such periods, or upon
such events, as determined by the Administrator in its discretion and as set forth in the related grant agreement. The term of each option
is also set by the Administrator. However, a related SAR will be exercisable at the time or times, and only to the extent, that the option
is exercisable and will not be transferable except to the extent that the option is transferable. A freestanding SAR will be exercisable
as determined by the Administrator but in no event after 10 years from the date of grant.

Exercise
Price. Each grant agreement states the related option exercise price, which, in the case of SARs, may not be less than 100% of the
fair market value of the Company’s shares of common stock on the date of the grant. The exercise price of an incentive stock option
granted to a 10% stockholder may not be less than 110% of the fair market value of shares of the Company’s common stock on the
date of grant.

Method
of Exercise. The option exercise price is typically payable in cash, common stock or a combination of cash of common stock, as determined
by the Administrator, but may also be payable, at the discretion of the Administrator, in a number of other forms of consideration.

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Recapitalization;
Change of Control. The number of shares subject to any award, and the number of shares issuable under the 2019 Plan, are subject
to proportionate adjustment in the event of a stock dividend, spin-off, split-up, recapitalization, merger, consolidation, business combination
or exchange of shares and the like. Except as otherwise provided in any written agreement between the participant and the Company in
effect when a change in control occurs, in the event an acquiring company does not assume plan awards (i) all outstanding options and
SARs shall become fully vested and exercisable; (ii) for performance-based awards, all performance goals or performance criteria shall
be deemed achieved at target levels and all other terms and conditions met, with award payout prorated for the portion of the performance
period completed as of the change in control and payment to occur within 45 days of the change in control; (iii) all restrictions and
conditional applicable to any restricted stock award shall lapse; (iv) all restrictions and conditions applicable to any restricted stock
units shall