Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 425

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 425
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, 2022, as amended effective January 1, 2023. The consulting agreement provided that Mr. Pomeroy receive monthly
compensation of $17,500. Pursuant to the consulting agreement and in connection with the closing of the XTI Merger, Mr. Pomeroy
received 4,000,000 shares of Legacy XTI common stock that were exchanged for 357,039 shares of our Common Stock.

Brooke
Turk

The Company entered into an employment agreement with Ms. Turk on May 8,
2024 (the “Turk Employment Agreement”), pursuant to which Ms. Turk agreed to continue to serve as the Company’s Chief
Financial Officer. Pursuant to the terms of the Turk Employment Agreement, Ms. Turk is entitled to receive an annual base salary of $350,000,
which may be increased by the Board from time to time in its sole discretion. Pursuant to the Turk Employment Agreement, Ms. Turk received
retroactive pay with respect to the period from March 13, 2024 until April 30, 2024 in the aggregate amount of $47,788 and with
respect to the period from May 1, 2024 until May 8, 2024 in the amount of $7,955. Ms. Turk is also entitled to receive an annual
cash bonus of up to a baseline of 75% of her base salary, with the right and ability to earn up to a cap of 112.5% of her base salary,
applying a weighted average percentage of the objective and subjective criteria and milestones set forth in the Turk Employment Agreement,
which include target amounts and target dates for equity investments received by the Company and the Company’s average market cap
in addition to the completion of certain milestones in the development of the Company’s TriFan 600 airplane. The Board will determine
and award the annual cash bonus within 30 days after the end of each calendar year during Ms. Turk’s employment period. The
remaining material terms of the Turk Employment Agreement are substantially similar to the terms of the Pomeroy Employment Agreement described
above.

Tobin
Arthur

In connection with his appointment as Chief Strategy Officer, the Company
entered into an employment agreement with Tobin Arthur on September 19, 2024, effective as of such date, which sets forth the terms
of Mr. Arthur’s services as Chief Strategy Officer and his compensation arrangement (the “Arthur Employment Agreement”).
P