Company: XTIA
Filing Date: 2025-10-10
Form Type: DEF 14A
Source: 0001213900-25-098157
Chunk: 30

Company: XTI Aerospace, Inc.
Filing Date: 2025-10-10
Form: DEF 14A
Chunk 30
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 Employment Agreement, Mr. Tapp is eligible to receive incentive awards of Company securities and he received an initial stock option grant as described below. In addition, Mr. Tapp is entitled to 30 paid vacation days (“PTO Days”) during each twelve -monthperiod during his employment. Any unused PTO Days in any year will rollover to the next year. In the event of termination, Mr. Tapp will be compensated for all accrued vacation at his base salary rate then in effect. Mr. Tapp is entitled to participate in all Company benefit plans, and he is also entitled to the reimbursement of all reasonable business expenses incurred by him in connection with the performance 19 of his duties and reasonable relocation expenses if the Company relocates its headquarters to any location outside the Dallas -FortWorth metroplex area that is within a radius (the “Executive Office Area”) of not more than 17 miles from the intersection of Preston Rd and the George Bush Turnpike, in accordance with the terms of the Tapp Employment Agreement and the Company’s officer expense policy. The Tapp Employment Agreement provides for an initial term of three years from the effective date, with automatic renewals for additional successive one -yearperiods thereafter, unless either the Company or Mr. Tapp provides notice of termination at least 90 days prior to the end of the initial term or the then applicable renewal term. The Tapp Employment Agreement provides that the Company may terminate Mr. Tapp’s employment for Cause (as defined in the Tapp Employment Agreement) if 60% or more of the directors serving on the Board (a “Super Majority of the Board”) approves such termination by delivery of written notice to Mr. Tapp specifying the cause or causes relied upon for such termination and giving Mr. Tapp, together with his counsel, an opportunity to be heard before the Board prior to such Board action. Any such notice of termination will effect termination as of the date specified in such notice or, in the event no such date is specified, on the last day of the month in which such notice is delivered or deemed delivered. The Company may also terminate Mr. Tapp’s employment without Cause upon the approval of a Super Majority of the Board and delivery of written notice of termination to Mr. Tapp at any time, which notice will effect termination not less 45 days after the date of such notice. Mr. Tapp may terminate his employment with the Company at any time for Good Reason (as defined in the Tapp Employment Agreement) within 12 months following