Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 825

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 825
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. Except as otherwise provided in the Plan or an Award agreement, no amendment shall adversely affect outstanding Awards without the consent of the Participant. The Plan may be terminated at any time by action of the Board, but any such termination will not terminate Awards then outstanding, without the consent of the Participant.

<div align='center'>D-13</div>

#### TABLE OF CONTENTS

#### Annex E

### WRITTEN CONSENT OF THE

### MAJORITY STOCKHOLDERS OF

### CHANNEL THERAPEUTICS CORPORATION

### IN LIEU OF A SPECIAL MEETING

#### April 16, 2025
The undersigned, being the holders of a majority of the issued and outstanding capital stock (the “

#### Consenting Stockholders
”) of Channel Therapeutics Corporation, a Nevada corporation (the “

#### Company
”), having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all of the shares entitled to vote thereon were present and voted (the “

#### Requisite Majority
”), do hereby irrevocably consent to and approve the adoption of the following resolutions, without a meeting, pursuant to Section 78.320 of Chapter 78 of the Nevada Revised Statutes (the “

#### NRS
”) and the bylaws of the Company (the “

#### Bylaws
”):

WHEREAS , the Company has entered into an Agreement and Plan of Merger, dated as of April 16, 2025, with CHRO Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (“ Merger Sub ”), LNHC, Inc., a Delaware corporation ( “ Merger Partner ”) and, solely for the purposes of Article III thereof, Ligand Pharmaceuticals Incorporated, a Delaware corporation, a copy of which has been provided to the undersigned Consenting Stockholders and is attached hereto as Exhibit A (the “ Merger Agreement ”);

WHEREAS , pursuant to the Merger Agreement, Merger Sub will be merged with and into the Company (the “ Merger ”), with Merger Partner continuing as the surviving corporation following the Merger and as a wholly owned subsidiary of the Company (the “ Surviving Corporation ”), upon the terms and subject to the conditions set forth in the Merger Agreement;

WHEREAS , pursuant to the terms and conditions of the Merger Agreement, upon the effective time of the Merger (the “ Effective Time ”), (i) each share of