Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 10

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 10
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ell
Holdings, pursuant to which Chromocell Holdings agreed not to (i) directly or indirectly engage in the business of owning, licensing,
developing, marketing, manufacturing, producing, selling or distributing products, technologies, therapies, or services in any
way related to our business, including all patents, pre-clinical and Phase I study results and data, and trade secrets related
to the CC8464 compound, transferred by Chromocell Holdings to us further to the that certain Contribution Agreement (the “Contribution
Agreement”) with Chromocell Holdings. Pursuant to the Contribution Agreement, effective July 12, 2022 (the “Contribution
Date”), (ii) directly or indirectly, hire, engage or employ (as an employee, consultant or otherwise) any of our employees;
provided that Chromocell Holdings shall not, directly or indirectly, prevent any of our employees from serving on the board of
directors of Chromocell Holdings, and (iii) through any director or officer of Chromocell Holdings, directly or indirectly, solicit
for employment or the engagement of services of any of our employees or induce or attempt to induce any of our employees to leave
his or her employment with us, or in any way intentionally interfere with the employment relationship between any of our employees
and us, for the purpose of employing or engaging the services of such employee or soliciting such employee to become an employee
or consultant of Chromocell Holdings or any other person.

Our
Facilities

Our
office is located at 4400 Route 9 South, Suite 1000, Freehold, NJ 07728. We are considering lab options commensurate with the
start of the Phase II trials and dose escalation study.

Employees
and Human Capital Resources

As
of March 26, 2025, we had four full-time employees and seven individual consultants on a part-time basis. None of our employees
is subject to a collective bargaining agreement or represented by a trade or labor union. We consider our relationship with our
employees to be good.

Our
human capital resources objectives include, as applicable, identifying, recruiting, retaining, incentivizing and integrating our
existing and additional employees. The principal purposes of our equity incentive plans are to attract, retain and motivate selected
employees, consultants and directors through the granting of stock-based compensation awards and cash-based performance bonus
awards.

In
addition, we have a two person Scientific Advisory Board led by Dr. Stephen Wax