Company: APM
Filing Date: 2025-07-15
Form Type: DRS
Source: 0001213900-25-063899
Chunk: 335

Company: Aptorum Group Ltd
Filing Date: 2025-07-15
Form: DRS
Chunk 335
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 shareholder of the Company, pursuant
to which the Group sold a secured convertible note in the aggregate principal amount of $3,000,000 (the “Sep 2023 Notes”).
The Sep 2023 Notes are convertible into the Company’s Class A Ordinary Shares and have a maturity date that is 24 months from the
issuance date, although upon such date the investor has the right to extend the term of the Sep 2023 Note for twelve (12) months or more
or such term subject to mutual consent. The Sep 2023 Notes have an interest rate of 6% per annum and a conversion price of $2.42 per share.
The Company has the right to repay the principal amount of the Sep 2023 Notes, but in the case of such prepayment it must be paid in cash,
unless otherwise agreed by both parties. The Sep 2023 Note is secured by a first priority lien and security interest on certain shares
that the Group owns (“Collateral”). Upon the Group’s disposal of all or a portion of the Collateral, the investor has
the right, to request that the Group prepay the then-remaining outstanding balance of the Sep 2023 Note, in part or in full and the Group
can make that payment in cash or in shares. The principal outstanding amount as of the date hereof is $3,000,000.

Employment Agreements

We entered into Appointment
Letters with each of our executive officers. The terms of the Appointment Letters for each of our executive officers are consistent with
each other, except with regard to the individual’s compensation, term of employment and duties and responsibilities, the latter
of which coincides with the standard functions normally associated with the given position. In addition to setting forth the individual
compensation and such, the appointment letters contain the following material terms:

We may terminate employment
for cause, at any time, without advance notice or remuneration, for certain acts of the executive officer, such as conviction or plea
of guilty to a felony or any crime involving moral turpitude, negligent or dishonest acts to our detriment, or misconduct or a failure
to perform agreed duties. We may also terminate an executive officer’s employment without cause upon three-month advance written
notice. In such case of termination by us, we will provide severance payments to the executive officer as expressly required by applicable
law of the jurisdiction where the executive officer is based. The executive officer may resign at any time with three-month advance