Company: BNBX
Filing Date: 2025-04-04
Form Type: PRE 14A
Source: 0001104659-25-032262
Chunk: 73

Company: BNB PLUS CORP.
Filing Date: 2025-04-04
Form: PRE 14A
Chunk 73
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25 | ​ |  ​ | ​ | ​ | ​ |                                                                  76 | ​ | ​ | ​ | ​ | ​ |               1,080.00 | ​ |          ​ | ​ | ​ | ​ | 3/23/2033            | ​ | ​          | ​ | ​ | ​ | —                                                         | ​ | ​ | ​ | ​ | ​ | —                                                           | ​ | ​ |   |   |

**(1) All Option grants reflected in this column are fully vested and exercisable.

47

TABLE OF CONTENTS (2) Each of the Option grants made in fiscal 2023 vests in equal 25% installments on each of the first four anniversaries of the date of grant (i.e., March 23rd of each of 2024, 2025, 2026 and 2027), subject to the relevant named executive officer’s continued employment with the Company through each applicable vesting date. Employment Agreement with Dr. James A. Hayward The following is a discussion of our employment agreement with Dr. Hayward as of April 3, 2025 and, where indicated, compensation actions prior to such date. The Chairman and Chief Executive Officer is the only named executive officer with an employment agreement. Effective as of January 1, 2024, Dr. Hayward voluntarily reduced his salary to $250,000 in response to the then current cash position of the Company. This voluntary reduction was effective until May 25, 2024. The initial term of Dr. Hayward’s employment agreement was from July 1, 2016 to July 1, 2017, and the term of the employment agreement renews automatically on an annual basis thereafter, unless either party provides the other with 90 days’ advance written notice of non-renewal. The employment agreement provides for an annual base salary, which is described above in the section entitled “Base Salary,” and the Board of Directors, acting in its discretion, may also grant annual bonuses and annual equity awards to Dr. Hayward, provided that Dr. Hayward may not be treated less favorably with respect to annual bonuses or annual equity awards than other executives of the Company. Dr. Hayward will be eligible to participate in retirement, welfare and incentive plans available to the Company’s other employees. The employment agreement also provides for the following limited perquisites: an automobile allowance of up to $1,500 per month, a gas allowance, the use of an outside driver for up to 20 hours per week, a