eXp Founder Glenn Sanford Keeps Top-Tier Revenue Share Under Separation Deal; Planned Consulting Pact Dropped

BELLINGHAM, Wash. - November 9, 2026

eXp Realty founder Glenn Sanford will keep collecting revenue share from the brokerage at its highest front-line tier for as long as he holds vested status, under a separation agreement that AGNT, Inc., the Nasdaq-listed parent of eXp Realty, disclosed in a Form 8-K filed November 9. The filing also shows that a consulting arrangement the company said in October it expected to sign with Sanford never happened.

AGNT and Sanford, its founder, former chief executive officer and current board chairman, signed a Termination and Release Agreement on November 9. The agreement is effective retroactively to October 8, 2026, the day his employment with the company and its subsidiaries ended as part of the previously announced handoff of the CEO role to Leo Pareja. It covers only Sanford's separation from employment. He remains chairman of the board, and his director service and non-employee director compensation are unchanged.

The central provision concerns eXp Realty's revenue share program, the agent-attraction payments that have long been the company's signature feature. Sanford stays eligible for revenue share, consistent with the company's earlier disclosures. His share will also be calculated at the highest front line qualifying agent, or FLQA, tier the program offers, without regard to any FLQA qualification requirement. That treatment survives any termination or expiration of the agreement for as long as he keeps "Vested Status" under eXp Realty's revenue share plan and generally follows the brokerage's policies on eligibility, continuation and forfeiture of revenue share payments. Those policies apply as they stood on the separation date and as later amended in ways that apply uniformly to all vested participants. The entitlement does not depend on Sanford's release of claims. When he dies, his or his designated successor's entitlement will continue under the revenue share plan and eXp Realty's agent succession policy.

AGNT's October 8 filing announcing the CEO transition said the company anticipated entering into a consulting services agreement with Sanford. The new agreement states that he is not engaged to provide, and has no obligation to provide, consulting, advisory or other services to the company or its subsidiaries, and that no consulting agreement has been entered into.

If Sanford elects COBRA continuation coverage, AGNT will pay or reimburse the cost for him and his covered dependents until the first anniversary of the separation date, or earlier if he becomes eligible for another group health plan or stops being eligible for COBRA. That benefit depends on his general release of claims becoming effective and irrevocable. The release includes the review and revocation periods required under the Older Workers Benefit Protection Act and, as of the filing date, had not yet taken effect.

Once Sanford's release takes effect, the company will in turn release him from claims arising on or before November 9, 2026, with significant carve-outs. AGNT's release does not cover claims arising from fraud, willful misconduct, knowing violations of law, breach of the duty of loyalty, or federal or state securities laws. It also excludes claims tied to dealings between the company and Sanford, his family members or entities he controls unless they have been resolved in a written agreement approved by the board's audit committee, claims based on facts he was required to disclose to the board or audit committee but did not, and recovery rights under the company's compensation clawback policy. The agreement does not waive or release any claim asserted in any current or other derivative lawsuit brought on behalf of the company in which Sanford is a defendant, or any claim arising from the facts alleged in those suits.

AGNT will continue to honor Sanford's rights to indemnification and advancement of expenses under its certificate of formation, bylaws and any indemnification agreement. It will also keep him insured under its directors' and officers' liability policies, on terms no less favorable than those given to other current or former directors and officers, for as long as he may face claims arising from his service and for at least six years after the later of his separation date and the end of his board service.

Other terms assign to the company the intellectual property in work Sanford created during his employment, without conditioning that on the release, and give AGNT a perpetual, royalty-free license to certain related materials he owns. Sanford keeps ownership of his name, image, likeness, voice, signature and biographical information, though the company may use his name and approved likeness factually to identify him as the founder of AGNT and eXp Realty. The agreement also includes mutual confidentiality obligations lasting four years after the later of his separation and the end of his board service, mutual indemnification for certain third-party claims, and mutual non-disparagement provisions under which the company will instruct its directors and executive officers not to disparage Sanford publicly. Texas law governs the agreement, and most disputes go to binding confidential arbitration in King County, Washington.

AGNT said the full agreement will be filed as an exhibit to its annual report on Form 10-K for 2026. The 8-K was signed by Chief Legal Counsel James Bramble.

Sanford started eXp Realty in 2009 and led the company until Pareja, who had been CEO of the eXp Realty brokerage since April 2024, took over as CEO of the parent company on October 8. AGNT, formerly eXp World Holdings, is based in Bellingham, Washington.