Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 644

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 644
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 eligible to participate in the Company’s incentive stock option plan
and may receive additional stock options or other equity incentives in the sole discretion of the Board. In addition, Mr. Pomeroy
is entitled to vacation time, paid holidays, sick days and personal days in accordance with the Company’s policies applicable
to other senior executives of the Company; provided that he is entitled to six weeks of vacation annually. Mr. Pomeroy is also
eligible to participate in all benefit plans and programs maintained by the Company for the benefit of its senior executives. In addition,
the Company agreed to reimburse Mr. Pomeroy for all reasonable and necessary business expenses incurred by him in connection with
the performance of his duties under the Pomeroy Employment Agreement within a reasonable period of time after Mr. Pomeroy’s
submission of expense vouchers, in accordance with Company’s expense reimbursement policies.

Mr. Pomeroy’s employment agreement term ends on December 31,
2025, with one automatic one-year extension to December 31, 2026, unless either party provides prior notice of non-renewal on or
before March 31, 2025. The Pomeroy Employment Agreement provides that Mr. Pomeroy’s receipt of compensation following
termination of employment is subject to his execution of a release releasing all claims against the Company and its executives, directors
and employees, other than as prohibited by law. If Mr. Pomeroy is terminated without cause (other than due to death or disability)
or if he resigns for good reason (as such terms are defined in the Pomeroy Employment Agreement), then Mr. Pomeroy will be entitled
to (i) a severance payment equivalent to the base salary that would have been paid to him through the end of the employment period,
(ii) payment for any unused vacation accrued to the date of termination, (iii) payment for any accrued but unpaid expenses through
the date of termination and (iv) any benefits to which he may be entitled upon termination pursuant to the terms of any applicable
plans and programs or as may be required by applicable law. If Mr. Pomeroy terminates for good reason, in addition to the foregoing
compensation and benefits, he is entitled to receive reimbursements of premium payments for continuation coverage under applicable state
or federal law, in the event he elects such continuation coverage, for the remainder of his employment period, or, if longer, for