Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 220

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 220
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) make a payment, in such form as may be determined by the plan administrator equal to the excess, if any, of (A) the
value of the property the holder would have received upon the exercise of the award immediately prior to the effective time of the transaction,
over (B) any exercise price payable by such holder in connection with such exercise. In addition in connection with such transaction,
the plan administrator may accelerate the vesting, in whole or in part, of the award (and, if applicable, the time at which the award
may be exercised) to a date prior to the effective time of such transaction and may arrange for the lapse, in whole or in part, of any
reacquisition or repurchase rights held by us with respect to an award.

Amendment
and Termination. The 2018 Plan will terminate on January 4, 2028 or at an earlier date by vote of our Board; provided, however,
that any such earlier termination shall not affect any awards granted under the 2018 Plan prior to the date of such termination. The
2018 Plan may be amended by our Board, except that our Board may not alter the terms of the 2018 Plan if it would adversely affect a
participant’s rights under an outstanding stock right without the participant’s consent.

The
Board may at any time amend or terminate the 2018 Plan; provided that no amendment may be made without the approval of the stockholder
if such amendment would increase either the maximum number of shares which may be granted under the 2018 Plan or any specified limit
on any particular type or types of award, or change the class of employees to whom an award may be granted, or withdraw the authority
to administer the 2018 Plan from a committee whose members satisfy the independence and other requirements of Section 162(m) and
applicable SEC and Nasdaq requirements. Pursuant to the listing standards of the Nasdaq Stock Market, certain other material revisions
to the 2018 Plan may also require stockholder approval.

Federal
Income Tax Consequences of the 2018 Plan. The federal income tax consequences of grants under the 2018 Plan will depend on the type
of grant. The following is a general summary of the principal United States federal income taxation consequences to participants
and us under current law with respect to participation in the 2018 Plan. This summary is not intended to be exhaustive and does not discuss
the income tax laws of any city