Company: MDCXW
Filing Date: 2025-06-30
Form Type: DEF 14A
Source: 0001062993-25-012273
Chunk: 62

Company: Medicus Pharma Ltd.
Filing Date: 2025-06-30
Form: DEF 14A
Chunk 62
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 that are structured significantly different for any Named Executive Officers. The Compensation Committee and Board will continue to monitor compensation risk assessment practices on an ongoing basis to ensure that the Company's compensation program is appropriately structured.

This Oversight and Description of Director and Named Executive Officer Compensation was completed by the Company's Compensation Committee.

Employment and Consulting Agreements with Named Executive Officers

We have entered into written employment agreements with James Quinlan, our Chief Financial Officer, and Edward Brennan, our Chief Scientific Officer. Such agreements provide for a base salary, an annual discretionary bonus, notice and payment requirements upon termination without cause or as a result of a change in control, and payments following or in connection with any other termination or resignation. Mr. Quinlan and Mr. Brennan are also subject to non-solicitation and non-competition agreements prohibiting competing with us and soliciting our clients for a period of one year following termination and also prohibiting soliciting our employees, of officers, executives, or agents for a period of one year following termination.

Summaries of the written employment agreements are set out below and do not purport to be complete and is subject to, and qualified in its entirety by all of the provisions of the applicable employment agreements, which are available on the Company's SEDAR+ profile at www.sedarplus.ca.

James Quinlan, Chief Financial Officer

On December 2, 2023, we entered into a five-year employment agreement with James Quinlan, our Chief Financial Officer (the "Initial Quinlan Employment Agreement"), effective as of September 1, 2023. Pursuant to the Initial Quinlan Employment Agreement, Mr. Quinlan's compensation includes (i) 50,000 initial stock options vested on the December 2, 2023 at a strike price calculated based on 10 days of volume weighted average price from the date of commencement of trading of the securities on the TSX Venture Exchange (the "TSXV"); (ii) one-time signing bonus of $100,000 disbursed at the time of commencement of employment; (iii) annual base salary of $300,000 (the "Quinlan Base Salary"); (iv) participation in a discretionary bonus plan, whereas, such bonus will be based on prescribed written performance milestones established by and at the discretion of the CEO subject to certain other factors, including the Company's performance, financial stability, and availability of cash, and whereas, such eligible bonus will increase in annual intervals starting from 60% of Quinlan Base