Company: MVIS
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006436
Chunk: 66

Company: MICROVISION, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 66
---
 plus the cost of 12 months of premium payments under COBRA, with any such payments subject to timely execution of a release of claims in favor of the company and continued compliance with any confidentiality or restrictive covenant obligations. There would be no acceleration of vesting of outstanding equity awards. |

| (3) | As a “Tier 2 Executive” under the Key Executive Severance and Change in Control Plan adopted in June 2024, in the event that he/she is terminated during the period from three months before to 18 months after a “Change in Control” for any reason other than by the company for “cause” or voluntarily resigns for “good reason,” they would be entitled to a cash payment equal to 12 months of base salary, plus 100% of target bonus, plus the cost of 12 months of COBRA premium payments, with any such payments subject to timely execution of a release of claims in favor of the company and continued compliance with any confidentiality or restrictive covenant obligations. In addition, 100% of his/her outstanding and unvested equity awards will become vested and free of restriction, although if any award requires performance achievement then vesting will be subject to the level of performance that has been achieved as of the date of such qualifying termination of employment. |

| (4) | In the event that Mr. Verma/Ms. Markham is terminated outside of the defined change-in-control period and the termination is for any reason other than by the company for “cause” or voluntarily resigns for “good reason,” they would be entitled to a cash payment of cash equal to 12 months of base salary, plus 100% of prorated target bonus, plus the cost of 12 months of COBRA premium payments, with any such payments subject to timely execution of a release of claims in favor of the company and continued compliance with any confidentiality or restrictive covenant obligations. There would be no acceleration of vesting of outstanding equity awards. |

| 42 |

For a detailed discussion of our Key Executive Severance
and Change in Control Plan, please see “2024 Compensation Program—Generally—Severance and Change in Control Benefits”
within the Compensation Discussion and Analysis.

Under the 2013 and 2020 Incentive Plans, 100% of each
of Mr. Sharma’s options that have not been exercised will become fully vested and immediately exercisable upon a change of control
of the company that does not result in an assumption, substitution or payoff of the award by