Company: CXAI
Filing Date: 2025-04-07
Form Type: PRE 14A
Source: 0001829126-25-002441
Chunk: 54

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: PRE 14A
Chunk 54
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 on Form 10-K
for the year ended December 31, 2023, which was filed with the SEC on May 24, 2024.

No Repricing.
Except in connection with certain corporate transaction involving the Company, the Company may not, without obtaining stockholder approval,
(i) amend the terms of outstanding options or stock appreciation rights to reduce the exercise price or base value of such options
or stock appreciation rights, (ii) cancel outstanding options or stock appreciation rights in exchange for options or stock appreciation
rights that have an exercise price or base value that is less than the exercise price or base value of the original options or stock appreciation
rights, or (iii) cancel outstanding options or stock appreciation rights that have an exercise price or base value greater than the
fair market value of a share of common stock on the date of such cancellation in exchange for cash or other consideration.

Amendment; Termination.
The administrator has the authority to amend, alter, suspend or terminate the Incentive Plan, provided such action does not materially
impair the existing rights of any participant. The Incentive Plan will automatically terminate in 2032, unless terminated sooner.

Summary of U.S. Federal Income Tax Consequences

The following summary is intended
only as a general guide to the material U.S. federal income tax consequences of participation in the Incentive Plan. The summary is based
on existing U.S. laws and regulations, and there can be no assurance that those laws and regulations will not change in the future. The
summary does not purport to be complete and does not discuss the tax consequences upon a participant’s death, or the provisions
of the income tax laws of any municipality, state or non-U.S. country in which the participant may reside. As a result, tax consequences
for any particular participant may vary based on individual circumstances.

Incentive Stock Options.
An optionee recognizes no taxable income for regular income tax purposes as a result of the grant or exercise of an incentive stock option
qualifying under Section 422 of the Code. Optionees who neither dispose of their shares within two years following the date
the option was granted nor within one-year following the exercise of the option normally will recognize a capital gain or loss equal to
the difference, if any, between the sale price and the purchase price of the shares. If an optionee satisfies such holding periods upon
a sale of the shares, the Company will not be entitled to any deduction for federal income tax purposes. If