Company: CXDO
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001654954-25-011941
Chunk: 44

Company: Crexendo, Inc.
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 44
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 share price is between Seven dollars ($7.00) US and Ten dollars ($10.00) US, and Five Hundred Thousand ($500,000.00) US if the transaction share price is above Ten dollars ($10.00) US; |
| · | reimbursement of COBRA premiums to continue health insurance coverage for him and his eligible dependents for up to 12 months, provided the Executive is eligible for and properly elects COBRA coverage; and                                                                                                                                                                                                                                                                                                                                                                                   |
| · | 100% accelerated vesting of all outstanding equity awards.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

| 26 |

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PROPOSAL III

ADVISORY APPROVAL OF THE FREQUENCY OF ADVISORY APPROVAL OF THE COMPENSATION OF THE COMPANY’S NAMED EXECUTIVE OFFICERS

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In addition to providing shareholders with the opportunity to cast an advisory vote on executive compensation, the Company this year is providing shareholders with an advisory vote on whether the advisory vote on executive compensation should be held every one, two or three years.

The Board believes that a frequency of “every three years” for the advisory vote on executive compensation is the optimal interval for conducting and responding to a “say on pay” vote. In formulating its recommendation, the Board considered that a triennial advisory vote on executive compensation i) complements our goal to create a compensation program that enhances long-term shareholder value through a program that is designed to motivate executives to achieve short-term and long-term corporate goals, and ii) will provide shareholders the ability to evaluate our compensation program over a time period similar to the periods associated with certain of our compensation awards, allowing them to compare the Company’s compensation program to the long-term performance of the Company. Shareholders who have concerns about executive compensation during the interval between “say on pay” votes are welcome to bring their specific concerns to the attention of the Board. Please refer to “Communicating with the Board of Directors” in this Proxy Statement for information about communicating with the Board.

The proxy card provides shareholders with the opportunity to choose among four options (holding the vote every one, two or three years, or abstaining) and, therefore, shareholders will not be voting to approve or disapprove the Board’s recommendation.

Because the vote on this proposal is advisory in nature, it will not be binding on or overrule any decisions by the Board of Directors; it will not create or imply any additional fiduciary duty on the part of the Board of Directors