Company: BNBX
Filing Date: 2025-09-29
Form Type: 8-K
Source: 0001104659-25-094465
Chunk: 11

Company: BNB PLUS CORP.
Filing Date: 2025-09-29
Form: 8-K
Item: Item 3.02
Chunk 11
---
 of the effective dates of the Employment
Agreements which will vest quarterly over one (1) year. Mr. Shorrock and Ms. Jantzen will each be eligible for a performance bonus in
the event the Company enters into a strategic transaction (such as, but not limited to a merger, sale or licensing of all or substantially
all of the Company assets that existed prior to September 17, 2025), or a restructuring, equal to five percent (5.0%) of the net proceeds
of the strategic transaction or net absolute cash retained at the time of the restructuring. The Board, acting in its discretion, may
grant cash or equity/options/restricted stock units to Mr. Shorrock and Ms. Jantzen for achieving or progressing stated company goals.

The Employment Agreements
also provide that upon termination without Cause (as defined in the Employment Agreements) or resignation for Good Reason (as defined
in the Employment Agreements) of each of Mr. Shorrock and Ms. Jantzen’s employment then Mr. Shorrock and Ms. Jantzen will each be
entitled to $400,000 or their then current annual base salary, together with all Accrued Benefits (as defined in the Employment Agreements).
Upon a Change in Control (as defined in the Employment Agreements) or termination due to death or disability, Mr. Shorrock and Ms. Jantzen
will each generally be entitled to receive the same payments and benefits they each would have received if their employment had been terminated
by the Company without Cause (as described in the preceding paragraph), other than salary continuation payments.

Mr. Shorrock, age 42,
has served as the Company’s Chief Legal Officer and Executive Director of Business Development since April 2021, and as the President
of LineaRx since December 2024. Mr. Shorrock leads the Company’s legal, regulatory, risk mitigation, intellectual property and business
development functions and has been instrumental in the development of the Company’s LineaDNA and LineaIVT platforms. Mr. Shorrock
previously served as general and intellectual property counsel to the Company from November 2016 through April 2019. Prior to rejoining
the Company in April 2021, Mr. Shorrock was a member of the intellectual property groups of Florida-based Lowndes, Drosdick, Doster, Kantor
& Reed, P. A. from February 2020 until