Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 217

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 217
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3.

  On September 29, 2023, Ms. Silva agreed to forgive $317,774
of earned compensation in exchange for 157,418 options to purchase common stock, 95,333 restricted stock units, and $39,722 to be paid
out as a bonus upon an IPO. On December 18, 2023 the restricted stock units issued on September 29, 2023 were cancelled and reissued as
part of an additional forgiveness, whereby, Ms. Silva agreed to forgive the $39,722 of accrued bonus in exchange for 19,703 options to
purchase common stock and an additional 14,895 restricted stock units (total of 110,227 restricted stock units). The options to purchase
common stock have a strike price of $1.33.

 (16)Includes healthcare benefits and 401(k) contribution of $35,000 and $0
respectively, for the fiscal year ended December 31, 2023.

Executive
Compensation Philosophy

Our
Board of Directors determines the compensation given to our executive officers in their sole determination. Our Board of Directors reserves
the right to pay our executives or any future executives a salary, and/or issue them shares of common stock issued in consideration for
services rendered and/or to award incentive bonuses which are linked to our performance, as well as to the individual executive officer’s
performance. This package may also include long-term stock-based compensation to certain executives, which is intended to align the performance
of our executives with our long-term business strategies. Additionally, while our Board of Directors has not granted any performance-based
stock options to date , the Board of Directors reserves the right to grant such options in the future, if the Board in its sole
determination believes such grants would be in the best interests of the Company.

104

Incentive
Bonus

The
Board of Directors may grant incentive bonuses to our executive officers in its sole discretion, if the Board of Directors believes such
bonuses are in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount
of revenue we are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

Long-Term,
Stock-Based Compensation

In
order to attract, retain and motivate executive talent necessary to support the Company’s long-term business strategy we may award
our executives and any future executives with long-term, stock-based compensation in the future, at