Company: XTIA
Filing Date: 2025-09-11
Form Type: 8-K/A
Source: 0001213900-25-086879
Chunk: 4

Company: XTI Aerospace, Inc.
Filing Date: 2025-09-11
Form: 8-K/A
Chunk 4
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 the rate in effect at the time of the notice of termination.

If Mr. Tapp terminates his
employment with the Company for Good Reason or the Company terminates Mr. Tapp’s employment without Cause, then upon Mr. Tapp furnishing
to the Company an executed waiver and release of claims in the form attached as an exhibit to the Employment Agreement (a “Waiver
and Release”), Mr. Tapp will be entitled to (i) his base salary through the date of termination, (ii) his annual base salary in
effect at the time of termination, divided by 12 and then multiplied by 18 months, (iii) an amount equal to the total of all bonuses awarded
to Mr. Tapp during the twelve months prior to the date of termination, divided by 12 and then multiplied by 18 months, (iv) immediate
vesting, in full, of all unvested Company securities or rights to such securities held by Mr. Tapp on the effective date of termination,
and the continuation of the period for exercise of all vested securities of the Company held by Mr. Tapp until the final expiration of
any applicable exercise period, and (v) continued receipt, at the Company’s cost, for 18 months after termination of all employee
benefits in which Mr. Tapp and his family were entitled to receive immediately prior to the date of termination.

In the event of a Change in
Control (as defined in the Employment Agreement), if the Company or its successor terminates Mr. Tapp’s employment for any reason
other than for Cause, then upon Mr. Tapp furnishing to the Company an executed Waiver and Release, Mr. Tapp will be entitled to (i) his
base salary through the date of termination, (ii) his annual base salary in effect immediately prior to the event or events resulting
in a Change in Control (the “Change of Control Effective Date”), divided by 12 and then multiplied by 36 months, (iii) an
amount equal to the total of all bonuses awarded to Mr. Tapp during the twelve months prior to the Change of Control Effective Date, divided
by 12 and then multiplied by 36 months, (iv) immediate vesting, in full, of all unvested Company securities or rights to such securities
held by Mr. Tapp on the effective date of termination, and the continuation of the period for exercise of all vested securities of the
Company held by Mr. Tapp until the final