Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 234

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 234
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 and Dr. Gilbert 58,750 stock options.

Pursuant
to our director compensation policy, the annual retainer for non-employee directors is $50,000 and the annual retainer for the chair
of the Board of Directors is $150,000. Annual retainers for committee membership are as follows:

    Audit committee chairperson 
    $15,000 
  
    Audit committee member 
    $7,500 
  
    Compensation committee chairperson 
    $10,000 
  
    Compensation committee member 
    $6,000 
  
    Nominating committee chairperson 
    $8,000 
  
    Nominating committee member 
    $5,000 
  
    Scientific and technology committee chairperson 
    $8,000 
  
    Scientific and technology committee member 
    $4,000 

These
fees are payable in advance in four equal quarterly installments during the first week of each quarter, provided that the amount of such
payment will be prorated for any portion of such quarter that a director is not serving on our Board of Directors, on such committee
or in such position. Non-employee directors are also reimbursed for reasonable out-of-pocket business expenses incurred in connection
with attending meetings of the Board of Directors and any committee of the Board of Directors on which they serve and in connection with
other business related to the Board of Directors. Directors may also be reimbursed for reasonable out-of-pocket business expenses authorized
by the Board of Directors or a committee that are incurred in connection with attending conferences or meetings with management in accordance
with a travel policy, as may be in effect from time to time.

In
March 2023, the Board amended our director compensation policy to provide that, on the date an individual is first elected or appointed
as a non-employee director, such individual will receive a grant of 25,000 stock options, and that, on the date of each annual meeting
of stockholders, commencing with the annual meeting of stockholders for 2023, each non-employee director (other than the board chair)
will receive a grant of 12,500 stock options and the board chair will receive 30,000 stock options. The initial stock options vest in
over three years from the grant date in equal quarterly installments, subject to continued service on the Board and the options shall
also vest in full immediately upon a director’s death, disability or a change of control. The annual stock options vest in