Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 225

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 225
---
 three years from January 22, 2024, 33.3% on the first anniversary of such date and 8.33% every three
months thereafter, ending January 18, 2027.

(6)
The options vest over a period of three years from October 9, 2024, 33.3% on the first anniversary of such date and 8.33% every three
months thereafter, ending October 9, 2027.

(7)
The options vest over a period of three years from August 7, 2023, 33.3% on the first anniversary of such date and 8.33% every three
months thereafter, ending August 7, 2026.

84

Employment
Agreements and Potential Payments on Employment Termination

Set
forth below is a description of the employment agreements with our named executive officers and a summary of the benefits that would
be payable upon termination of employment or in connection with a change in control to our named executive officers under their employment
agreements with us.

Jeffrey
A. Meckler

We
have entered into an employment agreement with Jeffrey A. Meckler (the “Meckler Employment Agreement”), which superseded
and replaced his employment agreement dated December 11, 2017 with Intec Pharma, Inc., a subsidiary of Intec Israel, to serve as our
Chief Executive Officer. The Meckler Employment Agreement provides for an annual base salary, subject to review for an upward adjustment
on at least an annual basis. Mr. Meckler is eligible to participate in an annual executive bonus plan, pursuant to which he may earn
an annual target bonus of up to 50% of his base salary, based on the achievement of certain individual and company-wide objectives, which
shall be established by our Board of Directors on an annual basis. The Board may, in its discretion, grant Mr. Meckler a bonus in excess
of the target bonus if the performance criteria are exceeded or for such additional contributions that the Board may choose to recognize.

Upon
termination of Mr. Meckler’s employment by us without cause or Mr. Meckler’s resignation for good reason, Mr. Meckler will
be entitled to a severance benefit equal to (i) twelve months of his base salary as in effect prior to the termination date, payable
in bi-monthly installments and (ii) an amount equal to Mr. Meckler’s cost