Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 1383

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 1383
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reement with Timothy J. Lorber

On
June 10, 2024, we entered into an employment agreement with our Chief Financial Officer, Timothy J. Lorber. Under Mr. Lorber’s
employment agreement, he receives base compensation of $227,000 per year and is entitled to a target bonus of $72,000 upon achievement
of certain milestones. Mr. Lorber also received an initial RSU grant of $100,000 worth of RSU issuable under the Company’s 2018
Equity Incentive Plan, which RSUs vest annually in one-third increments commencing on the first anniversary date of the grant of RSU,
in accordance with the terms of the RSUs award agreement.

Employment
Agreement with Michael Vander Hoek

On
September 1, 2019, we entered into an amended employment agreement with our Vice President for Operations and Regulatory, Michael Vander
Hoek. Under Mr. Vander Hoek’s employment agreement, he receives base compensation of $227,000 per year and is entitled to a target
bonus of $72,000 upon achievement of certain milestones. Mr. Vander Hoek also received an initial restricted stock unit grant of 6,096
RSUs (762 on a post-reverse split basis) and an additional grant of 12,500 RSUs on a post-reverse split basis on March 8, 2024 which
were fully vested on the grant date and issued under the Company’s 2018 Equity Incentive Plan. The initial RSU grant vested over
three years in substantially equal installments on each one year anniversary of the agreement. Under Mr. Vander Hoek’s employment
agreement, if he terminates his employment for “Good Reason,” as defined in the agreement, he will be entitled to his then
applicable base salary for a period of 12 months following termination, subject to his continued compliance with certain requirements
of his employment agreement. Mr. Vander Hoek accepted a reduced salary prior to the Company’s completion of its initial public
offering in September 2022. Effective September 10, 2024, Mr. Vander Hoek assumes the Vice President, Regulatory position on a full-time
basis and stops being our Chief Financial Officer.

Employment
Agreement with Peter Dritschilo

On
May 30, 2019, we entered into an employment agreement with our President and Chief Operating Officer, Peter Dritschilo. Under Mr. Dritschilo