Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 652

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 652
---
350,000 transaction value of the Completed Transaction. See “Executive Compensation — Completed
Transaction Bonus Plan” for a description of the Completed Transaction Bonus Plan.

Ms.
Loundermon is a participant of the Strategic Transaction Bonus Plan pursuant to which she is eligible for (a) a cash bonus in an
aggregate amount of 0.5% of the transaction value attributed to a Contemplated Transaction and (b) a cash bonus in an aggregate
amount equal to 100% of her aggregate annual base salary and target bonus amount following the closing of a Contemplated Transaction.
The XTI Merger qualifies as a Contemplated Transaction. See “Executive Compensation — Strategic Transaction Bonus
Plan” for a description of the Strategic Transaction Bonus Plan.

Completed
Transaction Bonus Plan

On
March 14, 2023, the Company completed a reorganization involving the transfer of the Company’s CXApp and enterprise app business
lines to CXApp Holding Corp., a Delaware corporation and wholly-owned subsidiary of the Company (“Legacy CXApp”), followed
by a distribution of shares of Legacy CXApp to the Company’s equityholders. The reorganization was followed by a subsequent business
combination transaction (the “CXApp Merger”) pursuant to that certain Agreement and Plan of Merger, dated as of September 25,
2022, by and among the Company, Legacy CXApp, KINS Technology Group Inc., a special purpose acquisition company (“KINS”)
which was renamed CXApp, Inc. upon the consummation of the CXApp Merger, and KINS Merger Sub Inc., a Delaware corporation and a wholly-owned
subsidiary of KINS, pursuant to which KINS Merger Sub Inc. merged with and into Legacy CXApp, with Legacy CXApp continuing as the surviving
company and as a wholly-owned subsidiary of CXApp, Inc. (such reorganization and business combination, collectively, the “Completed
Transaction”).

On
July 24, 2023, the Compensation Committee adopted a Transaction Bonus Plan (the “Completed Transaction Bonus Plan”),
which was intended to compensate certain current and former employees and service providers for the successful consummation of the Completed
Transaction. The Completed Transaction Bonus Plan was administered by the Compensation Committee. It terminated upon the completion of
all payments under the terms of the Completed Transaction Bonus Plan.

Pursuant
to the Completed Transaction Bonus Plan, in connection with the Completed Transaction:

●Participants
                                            listed on Schedule 1 of