Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 233

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 233
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 Schedule 5 to the Income Tax (Earnings and
Pensions) Act 2003 of the United Kingdom, or Schedule 5. The Board of Directors may exercise its discretion in selecting the Plan Participants
to whom stock options will be granted under the Plan.

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Grant of Options. Options may be granted
from time to time by the Board of Directors, other than when grants are not permitted under the applicable law or there are other restrictions
with regards to the Ordinary Shares. No payment will be made for the grant of a stock option.

Form of Options. EMI
Options granted under the Plan may be granted either with an exercise price greater than or equal to the market value of the Ordinary
Share at the date of grant, but not in any event at a price less than the nominal value of such Ordinary Shares subject to such EMI Options.
Unapproved Options granted under the Plan may be granted with an exercise price as determined by the Board of Directors but not in any
event at a price less than the nominal value of the Ordinary Shares subject to such Unapproved Option. The stock options may be stock
options to subscribe for new Ordinary Shares (in the form of Depositary Shares).

A Plan Participant will have
no stockholder rights until such time as he or she is able to exercise the stock option and acquire Ordinary Shares (in the form of Depositary
Shares).

Plan Limits. The Board
of Directors may from time to time specify the maximum number of Ordinary Shares in respect of which options may be granted pursuant to
the Plan.

EMI Options shall be granted
under, and comply with, Schedule 5. This confers tax benefits on EMI Options up to a certain threshold. That threshold is currently such
that when an employee has received and holds EMI Options with a value at grant of £250,000 or more, he or she may not have any further
granted EMI Options for three years. In the event that this threshold is exceeded or the Company ceases to satisfy the qualifying conditions,
unapproved options may instead be granted under the terms of the Plan. The total value of shares subject to unexercised EMI Options at
any time may not exceed £3.0 million. All EMI Options must be exercised within 10 years from the grant date as set out in the rules
of the 2014 Plan, or as set forth in the applicable option agreement.

Vesting of Options.
In the normal course, stock options will become eligible