Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 631

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 3
Chunk 631
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non-employee directors who have received options will only realize compensation with regard to these options to the extent the trading
price of our common stock is greater than the exercise price of such options. As of December 31, 2024, our non-employee directors held
the following numbers of stock options: Dr. Pomerantz, 182,000 stock options; Ms. Karah 53,781 stock options, Mr. Maddaluna 53,500 stock
options, Mr. Hayes 53,500 stock options, Mr. Martell 32,500 stock options, and Dr. Gilbert 58,750 stock options.

Pursuant
to our director compensation policy, the annual retainer for non-employee directors is $50,000 and the annual retainer for the chair
of the Board of Directors is $150,000. Annual retainers for committee membership are as follows:

    Audit committee chairperson 
    $15,000 
  
    Audit committee member 
    $7,500 
  
    Compensation committee chairperson 
    $10,000 
  
    Compensation committee member 
    $6,000 
  
    Nominating committee chairperson 
    $8,000 
  
    Nominating committee member 
    $5,000 
  
    Scientific and technology committee chairperson 
    $8,000 
  
    Scientific and technology committee member 
    $4,000 

These
fees are payable in advance in four equal quarterly installments during the first week of each quarter, provided that the amount of such
payment will be prorated for any portion of such quarter that a director is not serving on our Board of Directors, on such committee
or in such position. Non-employee directors are also reimbursed for reasonable out-of-pocket business expenses incurred in connection
with attending meetings of the Board of Directors and any committee of the Board of Directors on which they serve and in connection with
other business related to the Board of Directors. Directors may also be reimbursed for reasonable out-of-pocket business expenses authorized
by the Board of Directors or a committee that are incurred in connection with attending conferences or meetings with management in accordance
with a travel policy, as may be in effect from time to time.

In
March 2023, the Board amended our director compensation policy to provide that, on the date an individual is first elected or appointed
as a non-employee director, such individual will receive a grant of 25,000 stock options, and