Company: MDCXW
Filing Date: 2025-06-13
Form Type: PRE 14A
Source: 0001062993-25-011673
Chunk: 66

Company: Medicus Pharma Ltd.
Filing Date: 2025-06-13
Form: PRE 14A
Chunk 66
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 defined in the Quinlan Employment Agreement) will be subject to withholding under applicable law and shall be made in accordance with the Company's usual practice as in effect from time to time.

In the event of a Change of Control Transaction (as defined in the Quinlan Employment Agreement), any unvested options granted to Mr. Quinlan shall immediately vest.

On December 2, 2024, we entered into an amended and restated five-year employment agreement with James Quinlan, our Chief Financial Officer (the "Amended Quinlan Employment Agreement"), effective as of December 2, 2024. Pursuant to the Amended Quinlan Employment Agreement, Mr. Quinlan's compensation includes (i) annual base salary of $350,000 (the "Amended Quinlan Base Salary"); (ii) participation in a discretionary bonus plan, whereas, such bonus will be based on prescribed written performance milestones established by and at the discretion of the CEO subject to certain other factors, including the Company's performance, financial stability, and availability of cash, and whereas, such eligible bonus will increase in annual intervals starting from 60% of Amended Quinlan Base Salary in the first year of employment to 100% of Amended Quinlan Base Salary in the fifth year of employment; and a (iii) discretionary stock option share incentive plan, which is solely at the discretion of the Compensation Committee or the Board and whereas Mr. Quinlan must be in active employment to receive.

Pursuant to the Amended Quinlan Employment Agreement, Mr. Quinlan's employment may be terminated without Cause by the Company upon a three-month advance notice. Upon termination without cause by the Company, Mr. Quinlan will be entitled to the payment of (i) a payment equivalent to twelve (12) months of Base Pay and which shall be paid on regularly scheduled pay dates over such twelve (12) month period; (ii) pro rata target discretionary bonus payment for the partial year worked by Mr. Quinlan up to the date notice is provided; (c) benefit plan contributions necessary to maintain the Mr. Quinlan's participation during the three-month notice period in all benefit plans provided to the Mr. Quinlan by the Company immediately before the termination; and (d) payment of amounts which may be due and remaining unpaid at the time of termination of employment such as Quinlan Base Salary, vacation pay and expenses properly accrued as of the termination date.

In the