Company: CXDO
Filing Date: 2025-10-20
Form Type: DEF 14A
Source: 0001654954-25-011941
Chunk: 43

Company: Crexendo, Inc.
Filing Date: 2025-10-20
Form: DEF 14A
Chunk 43
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 up to 12 months, provided the Executive is eligible for and properly elects COBRA coverage; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| · | 100% accelerated vesting of all outstanding equity awards.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

We entered into an executive employment letter with Messrs. Brinton, Buch, and Wang, dated February 5, 2024. The executive employment agreements may be terminated by either side with sixty (60) days’ notice.

If terminated, outside of the Change of Control Window which starts at the beginning of any discussion or offer that would affect a change of control and ending twelve months after the effective date of any change of control, Mr. Brinton, Buch, and Wang’s employment was terminated without “cause” (excluding by reason of death or “disability”) or he resigned for “good reason” (as such terms are defined in the executive employment letter), he was eligible to receive the following payments and benefits if he timely signed and did not revoke a release agreement with us:

| · | one month of severance for each year of employment up to one year; and                                                                                                                                    |
| · | reimbursement of COBRA premiums to continue health insurance coverage for him and his eligible dependents for up to 12 months, provided the Executive is eligible for and properly elects COBRA coverage. |

If, within the Change of Control Window, his employment was terminated without cause (excluding by reason of death or “disability”) or he resigned for good reason, he was entitled to the following payments and benefits if he timely signed and did not revoke a release agreement with us:

| · | a payment equal to (i) base salary for twelve (12) months, plus (ii) a payment equivalent to the Executive’s maximum target bonus for the previous twelve (12) months. Provided the acquiring company fails to offer the Executive a position reasonably acceptable to the Executive for a period of no less than one year on terms reasonably consistent with the salary and benefits Executive was earning prior to the Change of Control;                                                                                                                                                    |
| · | an award of Restricted Stock Units or shares of the Company (or its equivalent cash value thereto based upon the closing stock price on the day prior to the change of control), equal to Two Hundred and Fifty Thousand Dollars ($250,000.00) US if the transaction price is below Seven dollars ($7.00)US per share, Three Hundred Seventy Five Thousand dollars ($375,000.00) US if the transaction