Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 144

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 144
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as further described below) (collectively, the “ Overall Share Limit”). In addition to the foregoing, (A)
upon the occurrence of the Triggering Event, additional Ordinary Shares representing ten percent (10%) of the Earnout Shares issued
by the Company in accordance with the Business Combination Agreement in connection with such Triggering Event will automatically be
added to the Overall Share Limit, (B) on the date that the reference price reset is finally determined pursuant to the terms of the
Convertible Notes, additional Ordinary Shares representing ten percent (10%) of the number of additional Ordinary Shares, if any,
underlying the Convertible Notes as of such date as a result of such reset will automatically be added to the Overall Share Limit,
and (C) upon the first occurrence of each LTIP Event (as defined in the 2023 Plan), additional Ordinary Shares representing three
percent (3%) of the then existing Fully Diluted Shares (as defined in the 2023 Plan) will automatically be added to the Overall
Share Limit. The maximum number of Ordinary Shares that may be granted with respect to incentive options (“ ISOs”), under
the 2023 Plan is 13,811,454 Ordinary Shares.

If an award (or portion thereof) under the 2023
Plan or 2020 Incentive Plan is forfeited, expires, lapses or is terminated, is exchanged for or settled in cash, surrendered, repurchased
or cancelled, without having been fully exercised/settled, in any case, at or below the price paid by the participant for such shares,
any shares subject to such award may, to the extent of such forfeiture, expiration, lapse, termination, cash settlement or exchange, surrender,
repurchase or cancellation, be used again or become available (as applicable) for new grants under the 2023 Plan. In addition, shares
tendered or withheld to satisfy the exercise price or tax withholding obligation for any award granted under the 2023 Plan or 2020 Incentive
Plan will again be or will become (as applicable) available for grants under the 2023 Plan. The payment of dividend equivalents in cash
in conjunction with any awards under the 2023 Plan will not reduce the shares available for grant under the 2023 Plan. However, the following
shares may not be used again for grant under the 2023 Plan: (i) shares subject to share appreciation rights (“ SARs”), that
are not issued in connection with the share settlement of