Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 234

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 234
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 for vesting subject to the satisfaction of time and financial performance targets.

If a Plan Participant leaves
the employment of the Company or its subsidiaries for any reason, his or her stock option will generally lapse unless the Board of Directors
exercises its discretion to allow the exercise of the stock option.

Performance Targets.
Stock options granted under the Plan may be subject to appropriate performance targets determined by the Board of Directors, with stock
options vesting in part on the attainment of each performance target.

Rights Attaching to Ordinary Shares. Ordinary Shares issued in connection with the exercise of stock options will rank equally with all other Ordinary Shares then
in issue (save as regards any rights attaching to Ordinary Shares by reference to a record date prior to entry of the shares on the register
of stockholders).

Adjustments. If there
is any adjustment of our issued share capital, the Ordinary Shares (in the form of Depositary Shares) subject 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