Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 185

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 1A
Chunk 185
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  (1)
  Comprised of $380,000 related to Mr. Singh’s 2023 salary, and salary amounts of $240,000 and $87,666 deferred in 2022 and years
prior to 2022, respectively, and paid in 2023.

  (2)
  Comprised of $220,000 related to Mr. Saglio’s 2023 consulting fees, and consulting fees of $90,000 deferred in 2022 and paid in
2023.        

Employment
Agreements

On
May 16, 2022, we entered into an employment agreement with Vininder Singh, pursuant to which he received an annual base salary of $400,000,
which is subject to bi-annual review by the Company. Mr. Singh is also eligible for an annual bonus based on the achievement of certain
goals and performance criteria established by the Board. Mr. Singh’s target annual bonus for the fiscal years ended 2022 through
2025 will be a minimum of twenty (20%) percent of the current base salary, with a maximum payout of up to one-hundred (100%) percent
based on target achievement. Mr. Singh will also be eligible to participate in the Company’s stock incentive plan, subject to Board
approval. The agreement with Mr. Singh shall continue until either his resignation, termination for cause by the Company, or death or
disability of Mr. Singh.

Consulting
Agreements

On
December 7, 2024, Dane Saglio, the Company’s former Chief Financial Officer, passed away. Mr. Saglio served as the Company’s
Chief Financial Officer since September 2021. Mr. Saglio was a valued member of the Company’s executive management team and will
be greatly missed. Prior to his passing, Mr. Saglio served as Chief Financial Officer pursuant to a consulting agreement with the Company
that provided for annual compensation of $270,000. Under the agreement, Mr. Saglio was also entitled to a cash bonus and to participate
in the Company’s stock incentive plan, each as determined by the Board.

On
December 12, 2024, the Board of Directors appointed Josh Blacher to serve as the Company’s Chief Financial Officer. In such capacity,
Mr. Blacher will serve as the principal financial officer and principal accounting officer of the Company. Mr.