Company: QXO-PB
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011886
Chunk: 41

Company: QXO, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 41
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 Jacobs in connection with a change in control of the company constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), then any such amounts will be reduced to avoid triggering the excise tax imposed by Section 4999 of the Code, provided that such reduction will be applied solely if it would result in Mr. Jacobs retaining a greater portion of the payments on a net after-tax basis. Restrictive Covenants . Mr. Jacobs is generally subject to the following restrictive covenants: employee and customer non-solicitation covenants during his employment and for a period of two years thereafter; confidentiality and mutual non-disparagement covenants during his employment and thereafter; and non-competition covenants during his employment and for a period of 12 months thereafter (during which period the company will make monthly non-compete payments to Mr. Jacobs

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equal to one-twelfth of his annual base salary), and the company will have the right (other than following a change in control of the company) to extend the non-compete period for up to three additional one-year periods, so long as the company pays Mr. Jacobs an amount equal to one-twelfth of his base salary for each month during each applicable one-year extension period. Employment Agreement with Ihsan Essaid, Chief Financial Officer In connection with Mr. Essaid’s commencement of employment on July 15, 2024, the company and Mr. Essaid entered into an employment agreement (the “Essaid Employment Agreement”). The Essaid Employment Agreement provided for an annual base salary at an initial annual rate of $900,000 and an initial target annual bonus of 125% of base salary, with Mr. Essaid’s target annual bonus for 2024 to be paid in full. Mr. Essaid’s annual base salary and target annual bonus will increase (but not decrease) each calendar year depending on the company’s annualized revenue run rate as of the preceding December 31 as follows:

| Annualized Revenue Run Rate Band |     |      Base 
    Salary 
       ($) |     | Target        
 Bonus         
 (% of Salary) |     |     Target 
      Bonus 
     Amount 
        ($) |
| $ 5 Billion to $10 Billion       |     | 1,100,000 |     | 140%          |