Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 227

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 227
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| 112 |

Agreements with Senior Management

Stephen Stamp. On September
9, 2019, we entered into a service agreement, or the Service Agreement, with Mr. Stamp. The Service Agreement provides for a base salary,
incentive compensation benefits, and, in certain circumstances, severance benefits. The Service Agreement may be terminated, subject to
certain exceptions, upon six months’ prior notice.

The Service Agreement provides
for an initial base salary of £160,000. Mr. Stamp’s base salary is subject to increase each April 1 by the percentage increase,
if any, in the “All Items Index of Retail Prices” published by the United Kingdom Office for National Statistics over the
previous year. The base salary of Mr. Stamp is to be reviewed annually to consider any increase in salary. Mr. Stamp’s base salary
was increased to £230,000 effective as of April 1, 2022.

The Service Agreements also
include a bonus target for Mr. Stamp of 33% of his annual base salary, which bonus is payable upon attainment of objectives as determined
in the subjective judgment of the Board of Directors or a committee thereof, taking into account various factors without any preassigned
weighting. In addition to base salary and bonus, the Service Agreement provides for additional benefits, such as a 10% pension contribution,
life insurance, medical insurance, vacation benefits and any other additional benefits as determined by the Board of Directors from time
to time. In August 2021, we agreed to commute his Company pension contribution of 10% to salary.

Pursuant to the terms of the
Service Agreement, Mr. Stamp has also agreed that, for a period of six months following his termination, he will not directly or indirectly
compete with the Company. The Service Agreement includes provisions related to the non-disclosure of information and assignment of inventions.
Among other things, these provisions prohibit Mr. Stamp from disclosing any of our proprietary and confidential information received during
the course of employment and obligates him to assign to the Company any inventions conceived or developed during the course of his employment.
The Service Agreement also includes customary confidentiality, non-solicitation, non-poaching and non-disparagement provisions.

The Service Agreement also
provides Mr. Stamp with certain payments and/or benefits upon certain terminations of employment. If he is terminated due to his inability
to perform his duties due to illness or other incapacity for a continuous period of three months, or an