Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 643

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 643
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    Soumya Das 
     06/12/2024  
     -  
     3,900  
     117.50  
     06/12/2034 
  
    Nadir Ali 
     -  
     -  
     -  
     -  
     - 
  
    Wendy Loundermon 
     -  
     -  
     -  
     -  
     - 

(1)Options
                                            vest 1/3rd per year at each grant date anniversary.

Employment
Agreements and Arrangements

Scott
Pomeroy

The Company entered into an employment agreement with Mr. Pomeroy
on May 6, 2024 (the “Pomeroy Employment Agreement”), pursuant to which Mr. Pomeroy agreed to continue to serve as
the Company’s Chief Executive Officer and as a member and Chairman of the Board. Pursuant to the terms of the Pomeroy Employment
Agreement, Mr. Pomeroy is entitled to receive an annual base salary of $400,000, which may be increased by the Board from time to
time in its sole discretion. Pursuant to the Pomeroy Employment Agreement, Mr. Pomeroy received retroactive pay with respect to the
period from March 13, 2024 until April 30, 2024 in the aggregate amount of $54,545 and with respect to the period from May 1,
2024 until May 6, 2024 in the amount of $6,061. Mr. Pomeroy is also entitled to receive an annual cash bonus of up to a baseline
of 100% of his base salary, with the right and ability to earn up to a cap of 150% of his base salary, applying a weighted average percentage
of the objective and subjective criteria and milestones set forth in the Pomeroy 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
by January 31 following the end of each calendar year during Mr. Pomeroy’s employment period.

Pursuant
to the Pomeroy Employment Agreement, Mr. Pomeroy is also