Exhibit 10.3


 


August 14, 2015


 


Ellen Mochizuki


[REDACTED]


 


Dear Ellen:


 


It is a pleasure to extend to you an offer
of employment to join Ritter Pharmaceuticals, Inc. (“Ritter”), as Vice President, Finance. Your hire date will
be September 21, 2015. This position reports to Ira E. Ritter, Chief Strategic Officer and Chairman.


 


The primary duties and areas of responsibility
with which you will become involved have been discussed during your interviews. Please keep in mind these duties and responsibilities
may change from time to time at Ritter’s sole discretion. Your compensation for this full-time, exempt position will be an
annual base salary of $170,000.00, payable in accordance with Ritter’s standard payroll practices. You will also be eligible
to earn a bonus based upon the achievement of agreed upon performance objectives for each year. Ritter will review your base salary
and bonus opportunities at least annually for adjustments.


 


You will be eligible for Ritter’s
comprehensive benefits package, as set forth in Ritter Employee Handbook. You will learn more about benefits and other information
at your new employee orientation, but if you have any particular questions about the benefits package before deciding whether to
accept this offer, please contact Andrew Ritter, our President.


 


Upon the commencement of your employment
with Ritter, you are required to complete Form I-9, Employment Eligibility Verification, and show proof of your employment eligibility
and identity.


 


Perhaps the most important consideration
in making your career decision is the opportunity for personal development in a challenging and growing business environment. Although
no company can guarantee what the future holds, we believe that the opportunities with Ritter are outstanding in terms of growth,
responsibility and compensation. Your success, of course, depends in large part on your own job performance and your contributions
to the success of Ritter. Based upon your past accomplishments, and the enthusiastic reactions of those who spoke with you, we
believe that you have the potential to make a substantial contribution to our group. We also believe that we can provide a rewarding
and challenging opportunity for you.


 


While we hope that our relationship will
be long and mutually beneficial, it should be recognized that neither you, nor we, have entered into any contract of employment,
expressed or implied, for any specific term. Our relationship is one of voluntary employment at-will. At-will means
that the employment is for no set period of time. You may resign at any time, and Ritter may terminate the employment relationship
at any time, with or without advance notice, and with or without cause or reason. Similarly, Ritter may change your position, job
duties, the compensation arrangement between you and Ritter, and other terms and conditions of


 




     


     


    

 


E. Mochizuki


August 14, 2015


Page 2


 


employment with or without cause, and with
or without advance notice, at any time in its sole discretion. Your employment at-will status cannot be modified by anyone in the
company, unless done so by the Chief Executive Officer and only if done in a writing that expressly alters the at-will nature of
the employment relationship and that is signed by the Chief Executive Officer. By accepting this offer, you are agreeing to the
at-will nature of your employment relationship with Ritter, and you are acknowledging that no one has made any promises or commitments
to you contrary to the foregoing.


 


Ellen, we would like to welcome you to
our team and hope that you will consider our offer favorable. To indicate your acceptance, please sign and return this letter to
me by the close of business on August 20, 2015. If you will be faxing your acceptance, please fax only this second page (signature
page) to fax number (310) 919-1600.


 


Sincerely,


 


	RITTER PHARMACEUTICALS, INC.	 
	 	 	 
	By:	/s/IRA E. RITTER	 
	 	Ira E. Ritter, Chief Strategic Officer and Chairman	 
	 	 	 
	ACCEPTANCE	 
	 	 	 
	By:	/s/ELLEN MOCHIZUKI	 
	 	Ellen Mochizuki	 
	 	 	 
	 	8/19/2015	 
	 	Signature Date