Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 645

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 645
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 a period
of six months after termination of employment. The Pomeroy Employment Agreement also includes provisions governing Company confidential
information. If Mr. Pomeroy is terminated for cause, then immediately following such termination, he is entitled only to any unpaid
compensation and unreimbursed expenses.

61

Mr. Pomeroy
previously served as Legacy XTI’s Chief Financial Officer from July 2022 until the XTI Merger pursuant to a consulting agreement
dated July 1, 2022, as amended effective January 1, 2023. The consulting agreement provided that Mr. Pomeroy receive monthly
compensation of $17,500. Pursuant to the consulting agreement and in connection with the closing of the XTI Merger, Mr. Pomeroy
received 4,000,000 shares of Legacy XTI common stock that were exchanged for 357,039 shares of our Common Stock.

Brooke
Turk

The Company entered into an employment agreement with Ms. Turk on May 8,
2024 (the “Turk Employment Agreement”), pursuant to which Ms. Turk agreed to continue to serve as the Company’s Chief
Financial Officer. Pursuant to the terms of the Turk Employment Agreement, Ms. Turk is entitled to receive an annual base salary of $350,000,
which may be increased by the Board from time to time in its sole discretion. Pursuant to the Turk Employment Agreement, Ms. Turk received
retroactive pay with respect to the period from March 13, 2024 until April 30, 2024 in the aggregate amount of $47,788 and with
respect to the period from May 1, 2024 until May 8, 2024 in the amount of $7,955. Ms. Turk is also entitled to receive an annual
cash bonus of up to a baseline of 75% of her base salary, with the right and ability to earn up to a cap of 112.5% of her base salary,
applying a weighted average percentage of the objective and subjective criteria and milestones set forth in the Turk Employment Agreement,
which include target amounts and target dates for equity investments received by the Company and the Company’s average market cap
in addition to the completion of certain milestones in the development of the Company’s TriFan 600 airplane. The Board will determine
and award the annual cash bonus within 30 days after the end of each calendar year during Ms. Turk’s employment