Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 564

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1C
Chunk 564
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 with us. The employees each will receive compensation on an annual
basis in cash, payable in monthly installments commencing at the completion of our IPO, as well as restricted stock units subject to
achieving certain key performance indicators. Certain of our executive officers are entitled to various target bonuses, upon achievement
of certain milestones. The terms of the employment agreements are as follows:

79

Employment
Agreement with Anatoly Dritschilo, MD

On
June 28, 2019, we entered into an employment agreement with our Chief Executive Officer and Chairman of the board of directors, Anatoly
Dritschilo, M.D. Under Dr. Dritschilo’s employment agreement, Dr. Dritschilo receives base compensation of $274,000 per year. Dr.
Dritschilo also received an initial restricted stock unit grant of 22,748 restricted stock units (“RSUs”) (2,844 on a post-reverse
split basis) issuable under the Company’s 2018 Equity Incentive Plan, which RSUs vested over three years in substantially equal
one-third installments on each one year anniversary of the agreement. Under his employment agreement, if Dr. Dritschilo terminates his
employment for “Good Reason,” as defined in the agreement, Dr. Dritschilo 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.
Dr. Dritschilo accepted a reduced salary prior to the Company’s completion of its initial public offering in September 2022.

Employment
Agreement 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