Company: JUNS
Filing Date: 2025-11-26
Form Type: S-1
Source: 0001493152-25-025204
Chunk: 187

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-26
Form: S-1
Chunk 187
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remainder of the original agreement shall remain in full force.

Employment Agreement with Marshall Hayward, dated as of September 1, 2021

Mr. Hayward’s agreement provides that he
will serve as the Chief Scientific Officer of the Company and that he will be paid an annual base salary of $336,000. Mr. Hayward is eligible
to receive an annual cash bonus, with the target amount of the bonus equal to 30% of the base salary in the year to which the bonus relates,
and the actual amount of the bonus may be greater or less than such target amount, and will ultimately be determined by the Board.

Amended Employment Agreement with Marshall Hayward, effective October 1, 2023

Mr. Hayward’s employment agreement was amended
effective October 1, 2023. The amendment reduces Mr. M. Hayward’s annual base salary from $336,000 to $67,200, until the time that
the Company has raised additional capital from the sale of its securities in the amount of $1,500,000. Upon the expiration of the Reduction
Period, the base salary shall be adjusted to be 105% the original base salary. The remainder of the original agreement shall remain in
full force.

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Provisions Applicable to All NEO Employment Agreements

Each of the employment agreements described above
has a term of three years, which will be automatically extended for one or more additional terms of one year each unless either party
provides notice to the other party of their desire to not so renew the term at least 30 days prior to the expiration of the then-current
term. Each of the agreements is “at will,” meaning that either party may terminate the employment at any time and for any
reason, subject to the provisions of the applicable agreement.

Each executive is entitled to fringe benefits
consistent with the practices of the Company, and to the extent the Company provides similar benefits to the Company’s executive
officers, and is entitled to be reimbursed for all reasonable and necessary out-of-pocket business, entertainment and travel expenses
incurred in connection with the performance of their duties.

Each agreement may be terminated by the Company
at any time, either with or without “Cause”, and by the applicable executive any time, either with or without “Good
Reason”. “Cause” is defined as (i) violation of any material written rule or policy of the Company for which
violation any employee may be terminated pursuant to the written policies of the Company reasonably