Company: SHPH
Filing Date: 2025-03-19
Form Type: PRE 14A
Source: 0001493152-25-010886
Chunk: 18

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-19
Form: PRE 14A
Chunk 18
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. Dritschilo accepted a reduced salary prior to the Company’s completion of its initial public offering in September 2022.

Consulting Agreement with Christopher Cooper

On March 11, 2025, we entered into a consulting agreement with Number 2 Capital Corp., a corporation wholly owned by Christopher Cooper, who has served as our Co-Chief Executive Officer, with responsibility over our capital markets and business capabilities. Under the terms of the consulting agreement, Mr. Cooper will receive compensation of $20,000 per month for a term of six months. Either party may terminate the consulting agreement at anytime upon 30 days’ notice, with or without cause.

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 will receive base compensation of $227,000 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 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. Under Mr. Lorber’s employment agreement, if he terminates his employment for “Good Reason,” as defined in the agreement, he will be entitled to his then applicable base salary for a period of six months, subject to his continued compliance with certain requirements of his employment agreement.

Employment Agreement with Michael Vander Hoek

On September 1, 2019, we entered into an amended employment agreement with our pervious Chief Financial Officer and Vice President for Operations and Regulatory, Michael Vander Hoek. Under Mr. Vander Hoek’s employment agreement, he will receive base compensation of $227,000 and is entitled to a target bonus of $72,000 upon achievement of certain milestones. Mr. Vander Hoek also received an initial RSU grant of 6,096 RSUs (762 on a post-reverse split basis) and an additional grant of 12,500 RSUs on a post-reverse split basis on March 8, 2024 which were fully vested on the grant date and issued under the Company’s Plan. The initial RSU grant vested over three years in substantially equal installments on each one year anniversary of the agreement. Under Mr. Vander Hoek’s employment agreement,