Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1212

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 4
Chunk 1212
---
 the agreement was in place; the Company will continue to pay to the applicable executive the base
salary that would have been paid to them for the following 12 month period, assuming that the agreement and the term had remained in
effect; any equity grant already made to the applicable executive will, to the extent not already vested, be deemed automatically vested;
and all of the parties’ rights and obligations under the agreement cease, other than such rights or obligations which arose prior
to the termination date or in connection with such termination, and subject to those provisions which survive the termination.

106

Each
of the agreements also provides for certain “gross-up payments” being payable to the applicable executive if it is determined
that any payment or benefit provided to the executive under the agreement or otherwise, whether or not in connection with a Change of
Control would constitute an “excess parachute payment” within the meaning of section 280G of the Internal Revenue Code of
1986, as amended (the “Code”), such that the payment would be subject to an excise tax under section 4999 of the Code.

Each
of the agreements contains customary confidentiality provisions, and customary provisions relating to intellectual property created by
the executive (i.e., a “work-made-for-hire” provision).

Each
of the agreements also contains a customary non-solicitation provision, wherein the executive agrees that they shall not, directly or
indirectly solicit or discuss with any employee of Company the employment of such Company employee by any other commercial enterprise
other than Company, nor recruit, attempt to recruit, hire or attempt to hire any such Company employee on behalf of any commercial enterprise
other than Company, provided that this provision does not prohibit the executive from undertaking a general recruitment advertisement
provided that the foregoing is not targeted towards any person identified above, or from hiring, employing or engaging any such person
who responds to such general recruitment advertisement. This provision applies for three years.

Each
of the agreements also contains a customary non-compete provision, wherein the executive agrees that they will not, directly or indirectly:
(i) engage in any other business, association or relationship of any kind with any business which provides, in whole or in part, the
same or similar services and/or products offered by Company as part of its existing or developing businesses which directly or indirectly
competes with Company; nor (ii) solicit or accept, or induce any person to reduce goods or services to Company, or in any manner assist
others in the solicitation, acceptance