Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 316

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 316
---
, on behalf of Titan, agreed to forgive $164,720 of earned compensation in exchange for 81,599 options to purchase common stock,
49,417 restricted stock units, and $45,000 to be paid out as a bonus upon an IPO. The options to purchase common stock have a strike
price of $1.33. On December 18, 2023, the restricted stock units issued on September 29, 2023 were cancelled and reissued as part of
an additional forgiveness, whereby Mr. Elmasri agreed to forgive the $45,000 of accrued bonus in exchange for 22,320 options to purchase
common stock and an additional 16,875 restricted stock units (total of 66,292 restricted stock units). The options to purchase common
stock have a strike price of $1.33.

(7)Includes
                                            healthcare benefits and 401(k) contribution of $0 and $0, respectively, for
                                            the fiscal year ended December 31, 2023.

(8)Includes
                                            healthcare benefits and 401(k) contribution of $0 and $0, respectively, for
                                            the fiscal year ended December 31, 2024.

(9)During
                                            2023, Mr. Hayward agreed to defer all salary compensation and to reduce his salary to $67,200
                                            beginning on October 1, 2023. The deferred compensation is recorded in accrued compensation
                                            as of December 31, 2023. No interest was accrued or due on the deferred compensation for
                                            2023.

 On
                                            September 29, 2023, Mr. Hayward agreed to forgive $1,123,727 of earned compensation in exchange
                                            for 556,672 options to purchase common stock, 337,118 restricted stock units, and $140,466
                                            to be paid out as a bonus upon an IPO. The options to purchase common stock have a strike
                                            price of $1.33. On December 18, 2023, the restricted stock units issued on September 29,
                                            2023 were cancelled and reissued as part of an additional forgiveness, whereby Mr. Hayward
                                            agreed to forgive the $140,466 of accrued bonus in exchange for 69,675 options to purchase
                                            common stock and an additional 52,676 restricted stock units (total of 389,794 restricted
                                            stock units). The options to purchase common stock have a strike price of