Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 430

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1A
Chunk 430
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 Shares under a compensation agreement.

Outstanding
Equity Awards

There
were no outstanding equity awards held by our named executive officers as of December 31, 2024.

Clawback
Policy

In
November 2023, our Board of Directors adopted a policy regarding the recovery of erroneously awarded compensation (“Clawback Policy”)
in accordance with the applicable rules of Nasdaq and Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended.
In the event we are required to prepare an accounting restatement due to material noncompliance with any financial reporting requirements
under U.S. securities laws or otherwise erroneous data or if we determine there has been a significant misconduct that causes material
financial, operational or reputational harm, we shall be entitled to recover a portion or all of any incentive-based compensation, if
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