Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 733

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 5
Chunk 733
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 treatment. In particular, in the two years following the Distribution, such restrictive covenants will generally prevent KINS and Legacy CXApp from (i) entering into any transaction which could, when combined with other transactions (including the Merger), result in a 45% or greater change in ownership of KINS’ or Legacy CXApp’s equity as part of a plan or series of related transactions that includes the Distribution, (ii) ceasing the active conduct of certain of Legacy CXApp’s businesses, (iii) voluntarily dissolving or liquidating KINS or Legacy CXApp and (iv) causing, permitting, or agreeing to the sale, transfer, or disposal of assets of Legacy CXApp that, in the aggregate, constitute more than 30% of the consolidated gross assets of Legacy CXApp, in each case, unless Legacy CXApp obtains a private letter ruling from the IRS, an unqualified opinion of a nationally recognized tax advisor that such action will not cause a failure of the intended tax treatment, or Inpixon consents to the undertaking of such action. Notwithstanding receipt of such ruling, opinion or consent, in the event that such action causes a failure of the intended tax treatment, KINS and Legacy CXApp could be responsible for all taxes arising therefrom.

Director Independence

For information on director independence, see Item 10. Directors, Executive Officers and Corporate Governance.

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Item 14. Principal Accountant Fees and Services.

WithumSmith+Brown, PC
(“Withum”) acts as our independent registered public accounting firm. Withum acted as the independent registered public
accounting firm for the year ended December 31, 2024 (Successor) and for the period from March 15, 2023 to December 31, 2023
(Successor). Marcum LLP (“Marcum”) acted as the independent registered public accounting firm the period from
January 1, 2023 to March 14, 2023 (Predecessor).

Audit Fees. For the year ended December 31, 2024 (Successor) and for the period from March 15, 2023 to December 31, 2023 (Successor), fees were approximately $319,000 and $235,000, respectively, for the services Withum performed in connection with the audits of our annual financial statements in our Annual Reports on Form 10-K and for reviews of the quarterly financial statements included in the Company’s Quarterly Reports on Form 10 Q. For the