Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 121

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 121
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 with Titan Advisory Services LLC (“Titan”), which is wholly-owned by Mr. Elmasri and his wife, pursuant
to which the Titan will provide certain services to the Company (the “MSA”). The MSA provides that the specific services
(the “Services”) will be described in separate Scopes of Work (“SOW”) which will constitute a part of the MSA.
The term of the MSA continues until 30 days after either party notifies the others that it desires to terminate the MSA.

The
Services, which commenced on January 1, 2023, are to be provided by Saleem Elmasri, and include Mr. Elmasri serving as the Chief Financial
Officer of the Company, and having the following responsibilities: (i) overall financial strategy implementation and execution; (ii)
overseeing forecasts and budgeting; (iii) overseeing the Company’s finance/accounting department; (iv) financial reporting; and
(v) overseeing tax compliance. Separately, Mr. Elmasri has also been named as the Secretary of the Company.

The
MSA agreement provides that the Company shall pay Titan a monthly fee in the amount of $25,000 (annual fee in aggregate of $300,000 per
year) and that Mr. Elmasri will be issued an option to acquire 562,500 shares of common stock, pursuant to a separate option agreement.
25% of the options are vested upon issuance, with the balance to vest in equal quarterly installments over the following 24 months, and
the option has a 10-year term. The exercise price for the shares of common stock will be $1.33. The options will accelerate and vest
immediately upon a merger, acquisition or other transaction that will be deemed a change of control of the Company. Titan and Mr. Elmasri
will be eligible to participate in additional incentive equity or cash compensation alongside the Company’s other executives, at
the sole discretion of the Company. Any additional resources used by Titan to provide the Services, subject to prior approval by the
Company, will be billed to the Company at between $150 and $250 per hour, and the Company has also agreed to reimburse Titan for all
reasonable out-of-pocket expenses that Titan incurs in providing the Services.

107

The
MSA includes a customary confidentiality provision for the benefit of the Company, and also includes a non-solicitation provision pursuant
to which each party agrees that during the term of the MSA and for a