Company: AX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001299709-25-000174
Chunk: 73

Company: Axos Financial, Inc.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 73
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 its terms, until September 1, 2031 (except as to awards outstanding on that date). The Board may terminate the Amended Plan at any time with respect to any shares for which awards have not theretofore been granted; provided, however, that the Amended Plan’s termination shall not materially and adversely impair the rights of a holder with respect to any award theretofore granted without the consent of the holder. The Board shall have the right to alter or amend the Amended Plan or any part thereof from time to time; provided, however, that without the approval by a majority of the votes cast at a meeting of our stockholders at which a quorum representing a majority of shares entitled to vote generally in the election of directors is present in person or by proxy, no amendment or modification of the Amended Plan may (i) materially increase the benefits accruing to holders, (ii) except as otherwise expressly provided in the Amended Plan, materially increase the number of shares subject to the Amended Plan or the individual award agreements, (iii) materially modify the requirements for participation, or (iv) amend, modify or suspend certain re-pricing prohibitions or amendment and termination provisions as specified therein. In addition, no change in any award

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## Item 3. Approval of an Amendment to the Amended and Restated 2014 Stock Incentive Plan
theretofore granted may be made which would materially and adversely impair the rights of a holder with respect to such award without the consent of the holder (unless such change is required in order to cause the benefits under the Amended Plan to qualify as “performance-based” compensation within the meaning of Section 162(m) of the Code in effect at the time of such Award or to cause the Amended Plan and/or Award to be exempt from or comply with Section 409A of the Code).

Performance Goals and Criteria under Section 162(m) . Under Section 162(m) of the Code, we are generally prohibited from deducting compensation paid to our principal executive officer and other “covered employees” in excess of $1 million per person in any year. For taxable years beginning on or before December 31, 2017, this deduction limit included an exception for “qualified

performance-based compensation”. The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) eliminated the exemption for “qualified performance-based compensation” for tax years beginning after December 31, 2017. The Tax Act includes