Company: BNBX
Filing Date: 2025-09-29
Form Type: 8-K
Source: 0001104659-25-094465
Chunk: 10

Company: BNB PLUS CORP.
Filing Date: 2025-09-29
Form: 8-K
Item: Item 3.02
Chunk 10
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000 per annum commencing on the effective date of her separation and ending on the Separation Date. The Separation Agreement also
provides that the Company shall pay to Ms. Murrah, contingent upon her compliance with the terms of the Separation Agreement, a total
gross amount of $400,000 to be paid in a lump sum on or before November 17, 2025. The Separation Agreement also provides for a customary
general release of claims in favor of the Company and customary post-employment covenants, including with respect to confidentiality and
non-disparagement.

The foregoing summary
of the Separation Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the full
text of the Separation Agreement, which the Company intends to file promptly as an exhibit to a subsequent Current Report on Form 8-K.

On September 28, 2025,
the Board approved the appointment of Clay D. Shorrock, current Chief Legal Officer of the Company and President of LineaRx, Inc., the
Company’s biotherapeutics subsidiary, as Chief Executive Officer of the Company, effective September 29, 2025. Mr. Shorrock assumed
the role of Chief Executive Officer from Judith Murrah.

On September 28, 2025,
the Board approved new Employment Agreements (together, the “ Employment Agreements”) with Mr. Shorrock and Beth Jantzen, Chief
Financial Officer of the Company. The Employment Agreements provide that Mr. Shorrock will be appointed as Chief Executive Officer and
Ms. Jantzen will continue to serve in her role as Chief Financial Officer of the Company. The terms of the Employment Agreements began
on September 29, 2025 and Mr. Shorrock and Ms. Jantzen will each hold office until the election and qualification of a successor or until
either individual’s earlier death, resignation or removal.

Pursuant to the Employment
Agreements, Mr. Shorrock’s and Ms. Jantzen’s annual base salary will each be $400,000. Mr. Shorrock will be paid a one-time
cash bonus of $175,000 and Ms. Jantzen will be paid a one-time cash bonus of $150,000. Mr. Shorrock and Ms. Jantzen will both receive
stock options of Common Stock with a grant-date fair value of $200,000 within seven (7) days