Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 236

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 236
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 to a stock option will be
subject to appropriate adjustment. The Board of Directors may adjust stock options in such manner as it determines to be appropriate.

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<div align='center'>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

The following are our related
party transactions as of December 31, 2023.

Agreement with Chesyl Pharma Limited

In April 2014, Biodexa Ltd
(formerly known as Midatech Ltd) entered into a consultancy agreement, or the Consultancy Agreement, with Chesyl Pharma Limited, or Chesyl.
Chesyl is wholly owned by Mr. Rolf Stahel, our former non-executive Chairman of the Board and director. The term of the Consultancy Agreement
commenced on March 1, 2014, with an initial term of 12 months and continuing thereafter until terminated in accordance with its terms.
Chesyl was engaged to provide management consultancy services, including support and assistance to the board of directors of Biodexa Ltd
in relation to operational issues and the provision of advice in relation to corporate strategy, corporate activities, fund raising and
mergers and acquisition opportunities, collectively the Services.

Pursuant to the terms of the
Consultancy Agreement, Mr. Stahel (or a similarly qualified substitute party, approved by the Biodexa Ltd) was obliged to procure the
Services at such times and at such locations as may be reasonably necessary for 10 full working days per year. Biodexa Ltd agreed to pay
Chesyl £40,000 per annum for Mr. Stahel’s services (reduced from £50,000 with effect from October 1, 2017), and if engaged
for any additional days, a rate of £2,000 would be paid per full working day. For the fiscal year ended December 31, 2022, Biodexa
Ltd paid Chesyl £13,333.

The Consultancy Agreement
was terminated in connection with Mr. Stahel’s resignation from our Board of Directors on June 20, 2022.

Agreements with the CMS Parties

CMS License Agreement

For information regarding
the CMS License Agreement, see “Business—Commercial Agreements, Strategic Partnerships and Collaborations—CMS License Agreement.”

Relationship Agreement

On January 29, 2019, the Company,
Panmure Gordon (UK) Limited (our former nominated advisor), the CMS Stockholders and