Company: SHPH
Filing Date: 2025-04-10
Form Type: PRER14A
Source: 0001641172-25-003635
Chunk: 39

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-04-10
Form: PRER14A
Chunk 39
---
 shares. No
other provisions of the 2018 Plan are modified, amended, revised, or otherwise changed by the First Amendment. The specific terms of
the 2018 Plan, such as who is eligible to receive awards under the 2018 Plan, the terms of awards, vesting periods, the exercise price
of any options, and any expiration of these awards, as well as the tax consequences of the awards which may be made under the 2018 Plan,
are set forth in the 2018 Plan, as approved by the Company’s stockholders.

| 27 |

This summary does not purport to be a complete
description of all the terms of the First Amendment and is qualified in its entirety by reference to the complete text of the First Amendment,
which is attached to this Proxy Statement as Appendix B.

Description of the Material Terms of the 2018 Plan

A description of the provisions of the 2018
Plan is set forth below. This summary is qualified in its entirety by the detailed provisions of the 2018 Plan, a copy of which is attached
as Exhibit 10.2 to our Annual Report on Form 10-K filed with the SEC on February 26, 2025.

Administration.
The 2018 Plan is administered by the Board of Directors or its committees in accordance with applicable laws. Different committees may
administer for different groups of service providers. The administrator has full power to select participants, determine award types
and amounts, interpret provisions, and make all decisions regarding the 2018 Plan.

Common Stock Reserved for Issuance under the 2018 Plan. The current maximum aggregate number of shares that may be awarded and sold
under the 2018 Plan is 3,000,000 shares, of which approximately 679,434 shares remain available for issuance as of the date
of the proxy statement. If the First Amendment is approved by our stockholders, the maximum aggregate number of shares that may be awarded
and sold under the 2018 Plan will be 8,000,000 shares. If an award expires or becomes unexercisable without being exercised in full,
or is forfeited or repurchased, these shares will become available for future grants.

Eligibility.Awards may be made to service providers (employees, directors and consultants) of the Company or any affiliate of the Company.
Incentive stock options may only be granted to employees.

Options.The 2018 Plan permits granting of options to purchase shares intended to qualify as incentive