On March 27, 2023, the Board of Boxed, Inc. increased the authorized number of directors constituting the Board from seven to eight and elected Ms. Pamela Corrie as an independent director of the Company, effective immediately, to serve as a Class II director until her successor is duly qualified and elected or until her earlier death, resignation, or removal. Ms. Corrie will receive $30,000 per month as compensation for her service as an independent director. The Company has entered into its standard form of indemnification agreement with Ms. Corrie.

Ms. Corrie has also been appointed as chair of the restructuring committee of the Board (the “Restructuring Committee”).