Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1799

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 1799
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, Mr. Elmasri has also been named as the Secretary of the Company.

The
MSA agreement provides that the Company shall pay Titan a monthly fee in the amount of $25,000 (annual fee in aggregate of $300,000 per
year) and that Mr. Elmasri will be issued an option to acquire 562,500 shares of common stock, pursuant to a separate option agreement.
25% of the options are vested upon issuance, with the balance to vest in equal quarterly installments over the following 24 months, and
the option has a 10-year term. The exercise price for the shares of common stock will be $1.33. The options will accelerate and vest
immediately upon a merger, acquisition or other transaction that will be deemed a change of control of the Company. Titan and Mr. Elmasri
will be eligible to participate in additional incentive equity or cash compensation alongside the Company’s other executives, at
the sole discretion of the Company. Any additional resources used by Titan to provide the Services, subject to prior approval by the
Company, will be billed to the Company at between $150 and $250 per hour, and the Company has also agreed to reimburse Titan for all
reasonable out-of-pocket expenses that Titan incurs in providing the Services.

107

The
MSA includes a customary confidentiality provision for the benefit of the Company, and also includes a non-solicitation provision pursuant
to which each party agrees that during the term of the MSA and for a period of one year thereafter, neither party will, without the prior
written consent of the other, engage in any way, employ, hire, or otherwise do business with any employee or former employee of the other
party.

The
MSA provides that the Company will be solely responsible for the contents of the information it provides to Titan in connection with
the MSA, and the Company makes customary representations and warranties regarding such information. The Company also agreed in the MSA
to indemnify Titan, its principals, employees and representatives, from and against any claims, losses, damages or any other liability
arising from or as a result of (i) Titan performing the Services or any other services requested by the Company, (ii) any claim by the
Company or any third party of any misrepresentation or reliance on any information resulting from the Services; (iii) any claim by the
Company or any third party or governmental agency brought under the federal securities laws or other statutes, state statute,