Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 234

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 234
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eration wherever possible.

The Remuneration Committee meets not less than
twice a year and otherwise as required.

Service Contracts

Except as described herein,
we do not have service contracts with any member of our Board of Directors or our senior management.

Equity Benefit Plans

The Board of Directors has
established the Biodexa Pharmaceuticals PLC Enterprise Management Incentive and Unapproved Share Option Scheme, or Plan, to allow us to
grant options to purchase Ordinary Shares (in the form of Depositary Shares) to employees and directors of the Company or any of its subsidiaries,
or Plan Participants, for the purpose of attracting, rewarding and retaining such persons. The Plan was originally adopted in December
2014 and amended on April 11, 2024 to govern the grant of tax-advantaged enterprise management incentive stock options, or EMI Options,
and unapproved stock options, or Unapproved Options, by the Company.

Administration. The
overall responsibility for the operation and administration of the Plan is vested in the Board of Directors.

Eligibility. Unapproved
Options may be granted to any person who is an employee or director of the Company or any of its subsidiaries. However, in order to be
eligible to be granted EMI Options pursuant to the Plan, a person must be an employee or director of the Company or any of its subsidiaries
whose “committed time” amounts to at least 25 hours a week or, if less, 75% of his or her “working time,” as each
of those terms are defined under the His Majesty’s Revenue and Customs rules set out in 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