Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 34

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 34
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business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities
laws, or any other basis determined by the Administrator in its discretion, and which, depending on the extent to which they are met,
will determine the number and/or the value of performance awards to be paid out to participants.

After the grant of a performance award, the Administrator,
in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such performance awards. Performance
awards will have an initial value established by the Administrator on or before the date of grant. A participant will forfeit any performance
awards unearned or unvested as of the date set forth in the award agreement.

Non-Employee Director Award Limitations

The 2022 Incentive Plan provides that no non-employee
director may be granted, in any fiscal year, equity awards, including any under the 2022 Incentive Plan, with a grant date fair value
(determined in accordance with U.S. Generally Accepted Accounting Principles) of more than $750,000, with this limit increased to $1,000,000
in connection with his or her initial fiscal year of service. Any awards granted to an individual while he or she was an employee, or
while he or she was a consultant but not a non-employee director, will not count for purposes of these limitations. No annual award limitations
apply to employees or consultants.

Transferability of Awards

Unless determined otherwise by the Administrator and
subject to the terms of the 2022 Incentive Plan, awards granted under the 2022 Incentive Plan generally are not transferable other than
by will or by the laws of descent and distribution, and all rights with respect to an award granted to a participant generally will be
available during a participant’s lifetime only to the participant.

Dissolution or Liquidation

In the event of the company’s proposed dissolution
or liquidation, the Administrator will notify each participant as soon as practicable before the effective date of such proposed transaction.
An award will terminate immediately before consummation of such proposed action to the extent the award has not been previously exercised
or vested.

Change in Control

The 2022 Incentive Plan provides that, in the event
of a merger of the company with or into another corporation or entity or a change in control, each award will be treated as the Administrator
determines without a participant’s consent, including,