Company: CXAI
Filing Date: 2025-04-07
Form Type: PRE 14A
Source: 0001829126-25-002441
Chunk: 32

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: PRE 14A
Chunk 32
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 Officer |     | 2024 Bonus Target 
 Target            
 Payout(1)         |         |     | % of        
 Base Salary |     |   |
|:------------------------|:----|:------------------|--------:|:----|:------------|----:|:--|
| Khurram P. Sheikh       |     | $                 | 325,000 |     |             | 100 | % |
| Joy L. Mbanugo          |     |                   | 100,000 |     |             |  40 | % |

| (1) | Based on salary effective as of December 31, 2024. |

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The annual cash incentive
bonus compensation payouts could range from 10% to 100% of the target annual cash incentive award opportunity based on performance relative
to pre-established performance goals. If the threshold amount was not achieved for a particular performance metric, no amount was to be
paid for that metric. However, the Compensation Committee retained absolute discretion to modify or eliminate any annual cash incentive
awards if the Compensation Committee determined such actions were warranted. The metrics chosen by the Compensation Committee to measure
corporate performance for determining payouts under the annual cash incentive bonus compensation were revenue and EBITDA (as calculated
in accordance with GAAP). The 2024 performance targets and actual results for these metrics were evaluated by the Compensation Committee
based on the performance of various strategic goals and metrics. Growth was assessed through bookings, recurring revenue was evaluated
based on the annual recurring revenue rate and profit margins were measured through gross margin. Retention was measured via net revenue
retention, budget management was monitored through operating expenses and cash management was tracked via accounts receivable collection
rates. Based on these metrics, the Compensation Committee approved annual cash incentive bonus compensation payouts of 100%, 70% and 40%,
during the second quarter, third quarter and fourth quarter of 2024, respectively.

Long-Term Incentive Compensation— Equity Incentive Plan (“EIP”)

We believe that providing long-term incentives in the form of equity awards under the EIP encourages our executive officers, including our NEOs, to take a long-term outlook and provides them with an incentive to manage the Company from the perspective of an owner with an equity stake in the business. By providing opportunities for our employees, including our NEOs, to benefit from future successes in the Company through the appreciation of the value of their equity awards,