Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 24

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 24
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non-routine) Awards to Directors. The Committee may delegate to the Chief Executive
Officer or one or more other senior officers of the Company its administrative functions under this Plan with respect to the Awards. Any
delegation described in this paragraph shall contain such limitations and restrictions as the Committee may provide and shall comply in
all respects with the requirements of applicable law, including the Nevada Revised Statutes. The Committee may engage or authorize the
engagement of a third party administrator or administrators to carry out administrative functions under the Plan.

Eligibility

The 2023 Plan provides for the
grant of awards to our employees, directors, consultants, independent contractors, and advisors, provided the consultants, independent
contractors, directors, and advisors render services not in connection with the offer and sale of securities in a capital-raising transaction.
As of December 31, 2023, all of our 47 employees (including each of our executive officers) were eligible to participate in the 2023 Plan.
The basis for participation in the 2023 Plan is the Administrator’s decision, in its sole discretion, that an award to an eligible
participant will further the 2023 Plan’s purposes of providing incentives to attract, retain and motivate eligible persons whose
present and potential contributions are important to our success and the success of our affiliates, by offering them an opportunity to
participate in our future performance through the grant of awards. In exercising its discretion, the Administrator will consider the recommendations
of management and the purposes of the 2023 Plan.

Forms of Awards

The following is a description
of the types of awards permitted to be issued under the 2023 Plan. As of the date of this report, the Company had issued an aggregate
of 5,644,744 shares of common stock pursuant to the 2023 Plan. No other awards had been issued under the 2023 Plan.

Stock Options. The 2023
Plan provides for the grant of incentive stock options that qualify under Section 422 of the Code only to our employees. All awards other
than incentive stock options, including awards of non-qualified stock options, may be granted to our employees, directors, consultants,
independent contractors, and advisors, provided the consultants, independent contractors, and advisors render services not in connection
with the offer and sale of securities in a capital-raising transaction. The exercise price of each stock option must be at least equal
to the fair market value of our common stock on the date of grant.