Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 155

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 155
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termination of Mr. Meckler’s employment by us without cause or Mr. Meckler’s resignation for good reason, Mr. Meckler will
be entitled to a severance benefit equal to (i) twelve months of his base salary as in effect prior to the termination date, payable
in bi-monthly installments and (ii) an amount equal to Mr. Meckler’s cost of continued health insurance coverage for twelve months.
In addition, if Mr. Meckler is entitled to receive a bonus for the year of termination based on the achievement of pre-determined performance
goals (and ignoring any continuation of employment requirements), Mr. Meckler (or his representatives) shall be entitled to receive such
bonus on the same basis as the other participants in the bonus plan, except that the bonus amount shall be prorated based on the percentage
of days Mr. Meckler was employed relative to the total number of days in the bonus earning period.

If
Mr. Meckler’s employment is terminated by us without cause or by Mr. Meckler for good reason during the one year period immediately
following a change in control or six months before a change in control, then Mr. Meckler will be entitled to receive, (i) eighteen months
of his base salary as in effect prior to the termination date, payable in bi-monthly installments, (ii) an amount equal to Mr. Meckler’s
cost of continued health insurance coverage for eighteen months, (iii) his target annual bonus for the year of termination, which shall
be paid within 30 days of termination, and (iv) full accelerated vesting of all of outstanding equity incentive awards upon the later
of the change in control or Mr. Meckler’s termination of employment.

In
the event that Mr. Meckler’s employment terminates by reason of his death or disability, and Mr. Meckler is entitled to receive
a bonus for the year of termination based on the achievement of pre-determined performance goals (and ignoring any continuation of employment
requirements), Mr. Meckler (or his representatives) shall be entitled to receive such bonus on the same basis as the other participants
in the bonus plan, except that the bonus amount shall be prorated based on the percentage of days Mr. Meckler was employed relative to
the total number of days in the bonus earning period.

Walt
A. Linscott, Esq.

We
have entered into