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SEC filingXos, Inc. entered into a Confidential Separation Agreement with former General Counsel Christen T. Romero, providing $110,000 cash, accelerated vesting of 120,000 RSUs with lock-up, and up to $50,000 contingent payment.
The Separation Agreement formalizes terms for Christen T. Romero's departure as General Counsel and Secretary, effective January 10, 2025, following his resignation. Key compensation includes a $110,000 cash payment and full vesting of 120,000 RSUs subject to a structured lock-up releasing 3/24ths after 15 days and the balance monthly over 21 months, capped at 10% of daily trading volume. Investors should note the contingent $50,000 payment tied to liquidity metrics—$25M in Available Liquidity (cash equivalents + receivables - adjusted current liabilities) as reported in SEC filings—or a Liquidity Event delivering $10+ per share. This deal settles all claims, with Romero affirming post-employment obligations like confidentiality. While not altering ongoing operations, it incurs immediate cash outflow and potential dilution from RSU vesting, alongside future liquidity-linked liability.