Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 126

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 126
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 and damage awards against directors and officers pursuant to these indemnification provisions. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors or executive officers, we have been informed that in the opinion of the SEC such indemnification is against public policy and is therefore unenforceable. 79

EXECUTIVE COMPENSATION The Company is an emerging growth company as such term is defined under the Securities Exchange Act. This section discusses the material elements of compensation awarded to, earned by or paid to the Company’s principal executive officer and other executive officers (other than our principal executive officer). The Company has also included the material elements of compensation awarded to, earned by or paid to other officers of the Old Foxx that may be named executive officers of the Business Combination. Together, these officers are referred to as our “named executive officers” or “NEOs.” At Closing, the Company has entered into employment agreements with each of its executive officers, pursuant to which each executive officer is entitled to the following compensation arrangement for each fiscal year. In addition to the base salary, each executive officer shall receive medical benefits, including medical, vision, dental, and unemployment plans. In addition, each of the executive officers below is entitled to participate in the Incentive Plan, as determined by the Board or its designee, as the administrator of the Incentive Plan.

| Name and Principal Position                                                                           |     | Salary 
 ($)    |         |     | Bonus 
 ($)   |     | Equity 
 Awards 
 ($)    |     | All Other    
 Compensation 
 ($)          |
|:------------------------------------------------------------------------------------------------------|:----|:-------|--------:|:----|:------|:----|:-------|:----|:-------------|
| Greg Foley                                                                                            
 Chief Executive Officer; Executive Vice President of Business Development of the Operating Subsidiary |     | $      | 275,000 |     | N/A   |     | N/A    |     | N/A          |
| Haitao Cui                                                                                            
 Executive Vice President; Chief Executive Officer of the Operating Subsidiary                         |     | $      | 300,000 |     | N/A   |     | N/A    |     | N/A          |
| “Joy” Yi Hua                                                                                          
 Chairwoman and Chief Financial Officer; Chief Financial Officer of the Operating Subsidiary           |     | $      | 300,000 |     | N/A   |     | N/A    |     | N/A          |
| James