Document:

Document

Exhibit 10.3

EMPLOYMENT AGREEMENT

Employment Agreement (the “Agreement”), dated as of June 13, 2022, by and between Ziff Davis, Inc., a Delaware corporation (together with its affiliates, the “Company”) and Jeremy D. Rossen (“Executive”).

Recitals

WHEREAS, Executive is currently engaged by the Company as its Executive Vice President, General Counsel and Secretary and the Company and Executive desire to set forth the terms upon which Executive will continue Executive’s employment with the Company;

NOW, THEREFORE, in consideration of the premises and the mutual covenants set forth below, the parties hereby agree as follows:

Agreement

1.Employment. The Company hereby agrees to employ Executive, and Executive hereby accepts such employment, on the terms and conditions hereinafter set forth.

2.Term. The term of Executive’s employment hereunder by the Company will commence on June 13, 2022 (the “Effective Date”) and will continue until the earlier of (i) the three (3) year anniversary of the Effective Date (such three (3) year period, the “Initial Term”) and (ii) the termination of Executive’s employment with the Company for any reason, as described in this Agreement. Following the Initial Term, the period of Executive’s employment pursuant to this Agreement will be extended automatically for one (1) year periods (each successive one (1) year period, a “Renewal Term”) unless either party notifies the other party of nonrenewal at least three hundred sixty-five (365) days prior to the end of the Initial Term or the then current Renewal Term, as applicable. Each additional Renewal Term shall be added to the end of the next scheduled expiration date of the then current Initial Term or Renewal Term, as applicable. Executive’s period of employment pursuant to this Agreement shall hereinafter be referred to as the “Employment Period”.

3.Position and Duties. During the Employment Period, Executive will serve as the Company’s Executive Vice President, General Counsel and Secretary, and will report to the Company’s Chief Executive Officer. Executive will have duties and authority consistent with such position and such other duties as the Company’s Chief Executive Officer may assign to Executive from time to time. Executive agrees to devote substantially all of Executive’s business time and attention to the performance of Executive’s duties for the Company. Without the consent of the Company, during the Employment Period, Executive will not undertake any outside business commitments, including service on the board of directors, trustees or any similar governing body of any for-profit entity. Notwithstanding the above, Executive will be permitted, to the extent such activities do not interfere with Executive’s performance of Executive’s duties and responsibilities hereunder or violate Section 9(a), (b), (c) or (d) of this Agreement, to manage Executive’s personal, financial and legal affairs and serve on civic or charitable boards or committees.

4.Place of Performance. The primary physical place of employment of Executive will be at the Company’s offices in Los Angeles.

5.Compensation and Related Matters.

(a)Base Salary. Executive’s current base salary is $475,000 per year (“Base Salary”), and is payable in approximately equal installments in accordance with the Company’s customary payroll practices.

(b)Annual Bonus. Executive is eligible to participate in any annual bonus plan that the Company may implement for senior executives of the Company at any time during the Employment Period. Executive’s current annual bonus (“Annual Bonus”) target is
$300,000, payable, to the extent earned, in accordance with the terms of the Company’s annual bonus plan applicable to Executive.

(c)Annual Long-Term Incentive Awards. During the Employment Period, Executive is eligible to participate in any long-term incentive compensation plans generally made available to senior executives of the Company.

(d)Benefits. During the Employment Period, Executive is entitled to participate in the benefit plans and programs made available to the Company’s employees generally, as such plans and programs may be in effect from time to time.

(e)Expense Reimbursement. The Company will promptly reimburse Executive for all reasonable business expenses upon the presentation of reasonably itemized statements of such expenses in accordance with the Company’s policies and procedures now in force or as such policies and procedures may be modified with respect to all senior executives of the Company.

6.Reasons for Termination of Employment. Executive’s employment under this Agreement will terminate and the Employment Period shall end, upon the earliest to occur of any of the following events. Effective as of the date of any termination of Executive’s employment for any reason (the date on which Executive’s employment terminates, the “Termination Date”), Executive hereby agrees to tender Executive’s resignation from, and will be deemed to have automatically resigned from, all offices and directorships held at the Company and any of its Affiliates at the date of such termination.

(a)Death. Executive’s employment hereunder will terminate upon Executive’s
death.

(b)Disability. If, as a result of Executive’s incapacity due to physical or mental
illness, Executive will have been substantially unable to perform Executive’s duties hereunder for a continuous period of one hundred and eighty (180) days, the Company may terminate Executive’s employment hereunder for “Disability.”

(c)Cause. The Company may terminate Executive’s employment for Cause. For purposes of this Agreement, the Company will have “Cause” to terminate Executive’s employment upon Executive’s: (i) conviction of, or plea of guilty or nolo contendere to, a felony or any crime involving fraud, embezzlement or moral turpitude; (ii) willful and continued failure substantially to perform duties and obligations to the Company (other than any such failure resulting from incapacity due to physical or mental illness); (iii) misconduct that is materially injurious (including injury to reputation) to the Company or its affiliates; (iv) material violation of any applicable employee handbook (including any code

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of conduct) of the Company; or (v) material violation of any contract or agreement between Executive and the Company or any of its affiliates, or of any duty owed to the Company or any of its affiliates; provided that with respect to items (ii), (iii), and (iv) to the extent any such action by Executive is curable, as determined by the Company in good faith, Cause shall exist only if Executive fails to cure such action(s) within ten (10) business days after the Board has provided Executive with written notice specifying the action(s) which it deems is a basis for a termination for Cause.

(d)Good Reason. Executive may terminate Executive’s employment for “Good Reason” within ninety (90) days after Executive has actual knowledge of the occurrence, without the written consent of Executive, of one of the following events that has not been cured within thirty (30) days after written notice thereof has been given by Executive to the Company setting forth in reasonable detail the basis of the event (provided that such notice must be given to the Company within thirty (30) days of Executive becoming aware of such condition): (i) a material reduction by the Company in Executive’s Base Salary, Annual Bonus opportunity, or grant date value (or its equivalent) of long-term incentive compensation awards, in each case, other than a uniform cross-executive team reduction that does not exceed ten percent (10%) of Executive’s total target compensation; (ii) a material diminution in Executive’s authority, duties or responsibilities; (iii) a relocation of Executive’s primary physical location of employment to a location more than thirty (30) miles outside of Los Angeles, California or more than thirty (30) miles further from Executive’s residence at the time of such relocation; or (iv) a material breach of this Agreement by the Company.

(e)Without Cause. The Company may terminate Executive’s employment for any reason during the Term at any time.

(f)Without Good Reason. Executive may terminate Executive’s employment during the Term at any time upon not less than one (1) months’ notice.

7.Compensation upon Termination of Employment. Except as provided in this Section 7, Executive will not be entitled to any payments or benefits from the Company as a result of the termination of Executive’s employment, regardless of the reason for such termination.

(a)Termination for Any Reason. Following the termination of Executive’s employment, regardless of the reason for such termination and including, without limitation, a termination of Executive’s employment by the Company for Cause or by Executive without Good Reason or upon expiration of the Employment Period, the Company will pay Executive (or Executive’s estate in the event of Executive’s death) as soon as practicable following the Termination Date (i) any compensation earned but not yet paid, including and without limitation, any amount of Base Salary earned but unpaid and any accrued vacation pay payable pursuant to the Company’s policies, (ii) any unreimbursed business expenses payable pursuant to Section 5(e), and (iii) any other compensation and/or benefits as may be due or payable to Executive in accordance with the terms and provisions of any employee benefit plans or programs of the Company.

(b)Termination by Company without Cause or by Executive for Good Reason. If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason, Executive will be entitled to the payments and benefits provided in Section

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7(a) hereof and, in addition, the Company will, subject to Section 7(d), provide to Executive
(i)an amount equal to the Severance Amount, (ii) the Pro Rata Bonus, (iii) the Medical Benefits and (iv) the Equity Vesting Benefits.

(i)The “Severance Amount” will be equal to:

(A)if such termination is (1) within three (3) months prior to, and is in connection with, a Change in Control of the Company, and the Change in Control is consummated, or (2) within two (2) years following a Change in Control of the Company (a “Qualifying CIC Termination”), two (2) times the sum of Executive’s then current: (x) Base Salary, and (y) target Annual Bonus, payable in a lump sum no later than sixty (60) days after the Termination Date; provided that, in no event, shall Base Salary or target Annual Bonus be lower than the amounts reflected in Sections 5(a) and 5(b) respectively for purposes of this Section 7(b)(i)(A); or

(B)if such termination is not a Qualifying CIC Termination, one (1) times the sum of Executive’s then current (x) Base Salary, and (y) target Annual Bonus, payable in equal installments over a period of twelve (12) months in accordance with the Company’s standard payroll procedures commencing no later than sixty (60) days after Executive’s Termination Date; provided that, in no event, shall Base Salary or target Annual Bonus be lower than the amounts reflected in Sections 5(a) and 5(b) respectively for purposes of this Section 7(b)(i)(B).

(ii)The “Pro Rata Bonus” will be equal to (1) the then current Annual Bonus earned in the year of termination based on actual Company performance at the end of the performance period, multiplied by the number of days in the year up to and including the Termination Date and divided by 365; plus (2) any unpaid Annual Bonus for the year preceding the year of termination if the relevant measurement period for such bonus concluded prior to the Termination Date, provided that Executive shall not be required to meet any continuing employment requirement to receive any such unpaid Annual Bonus. The Pro Rata Bonus will be in a lump sum when bonuses for the applicable period are paid to the Company’s other executive officers, but, in any event, in the fiscal year following the fiscal year in which such Annual Bonus is earned.

(iii)The “Medical Benefits” require the Company to provide Executive group health benefits as if Executive were an employee of the Company (which may be provided pursuant to the Consolidated Omnibus Budget Reconciliation Act) for twelve (12) months (provided that in the event of CIC Qualifying Termination, such benefits will be provided for eighteen (18) months) following the Termination Date. If this agreement to provide benefits continuation raises any compliance issues or impositions of penalties under the Patient Protection and Affordable Care Act or any other applicable law, then the parties agree to modify this Agreement so that it complies with the terms of such laws.

(iv)The “Equity Vesting Benefits” mean:

(A)if such termination is a Qualifying CIC Termination, then the treatment of Executive’s Company equity awards (or equity awards issued to Executive in replacement of such Company equity awards in connection with

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a Change in Control) that remain outstanding and unvested as the Termination Date shall be governed by the Company’s j2 Global, Inc. 2015 Stock Option Plan (or any successor plan) and any award agreements thereunder; or

(B)notwithstanding anything to the contrary set forth in Executive’s equity award agreements, if such termination is not a Qualifying CIC Termination, then (1) all of Executive’s then-outstanding and unvested time-based equity awards that would have vested during the twelve (12) month period following the Termination Date will become vested in full, and
(2) all of Executive’s then-outstanding and unvested performance-based equity awards will remain outstanding and eligible to vest during the twelve
(12) month period following the Termination Date.

(v)“Change in Control” will have the meaning set forth in the j2 Global, Inc. 2015 Stock Option Plan.

(c)Death/Disability. In the event Executive’s employment is terminated by Executive’s death, or due to Executive’s Disability pursuant to Section 6(b), (i) Executive (or Executive’s beneficiary, legal representative or estate, as the case may be) will be entitled to the payments and benefits provided in Section 7(a) hereof and to the Pro Rata Bonus, and
(ii)the treatment of Executive’s Company equity awards (or equity awards issued to Executive in replacement of such Company equity awards in connection with a Change in Control) that remain outstanding and unvested as the Termination Date shall be governed by the Company’s j2 Global, Inc. 2015 Stock Option Plan (or any successor plan) and any award agreements thereunder.

(d)Condition to Payment. Executive’s right to receive any payments and benefits set forth in this Section 7 (other than payments and benefits provided in Section 7(a) hereof and other than in the event of Executive’s death) is conditioned upon Executive’s (i) execution, delivery and non-revocation of a general release agreement (the “Release”) in substantially the form used by the Company by the fifty-fifth (55th) day after Executive’s Termination Date and (ii) ongoing compliance in all material respects with the restrictive covenants set forth in Section 9 hereof.

8.Section 280G. In the event that any payments or benefits otherwise payable to Executive (1) constitute “parachute payments” within the meaning of Section 280G of the Code, and (2) but for this Section 8, would be subject to the excise tax imposed by Section 4999 of the Code, then such payments and benefits will be either (x) delivered in full, or (y) delivered as to such lesser extent that would result in no portion of such payments and benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and employment taxes and the excise tax imposed by Section 4999 of the Code (and any equivalent state or local excise taxes), results in the receipt by Executive on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such payments and benefits may be taxable under Section 4999 of the Code. Any reduction in payments and/or benefits required by this provision will occur in the following order: (1) reduction of cash payments; (2) reduction of vesting acceleration of equity awards; and (3) reduction of other benefits paid or provided to Executive. In the event that acceleration of vesting of equity awards is to be reduced, such acceleration of vesting will be cancelled in

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the reverse order of the date of grant for equity awards. If two or more equity awards are granted on the same date, each award will be reduced on a pro-rata basis.

9.Confidential Information, Ownership of Documents; Non-Competition; Non- Solicitation.

(a)Confidential Information. During the Employment Period and thereafter, Executive will hold in a fiduciary capacity for the benefit of the Company all trade secrets and confidential information, knowledge or data relating to the Company and its businesses and investments, which will have been obtained by Executive during Executive’s employment by the Company and which is not generally available public knowledge (other than by acts by Executive in violation of this Agreement). Except as may be required or appropriate in connection with carrying out Executive’s duties under this Agreement, Executive will not, without the prior written consent of the Company or as may otherwise be required by law or any legal process, any statutory obligation or order of any court or statutory tribunal of competent jurisdiction, or as is necessary in connection with any adversarial proceeding against the Company (in which case Executive will use Executive’s reasonable best efforts in cooperating with the Company in obtaining a protective order against disclosure by a court of competent jurisdiction), communicate or divulge any such trade secrets, information, knowledge or data to anyone other than the Company and those designated by the Company or on behalf of the Company in the furtherance of its business or to perform duties hereunder. Notwithstanding anything to the contrary in this Agreement or otherwise, nothing shall limit Executive’s rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental entity. Notwithstanding the foregoing, Executive agrees to waive Executive’s right to recover monetary damages in connection with any such charge, complaint or lawsuit filed by Executive or anyone else on Executive’s behalf; provided that Executive is not agreeing to waive, and this Agreement shall not be read as requiring Executive to waive, any right Executive may have to receive an award for information provided to any governmental entity. Executive is hereby notified that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (2) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (3) to Executive’s attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order.

(b)Removal of Documents; Rights to Products. Executive may not remove any records, files, drawings, documents, models, equipment, and the like relating to the Company’s business from the Company’s premises without its written consent, unless such removal is in the furtherance of the Company’s business or is in connection with Executive’s carrying out Executive’s duties under this Agreement and, if so removed, they will be returned to the Company promptly after termination of Executive’s employment hereunder, or otherwise promptly after removal if such removal occurs following termination of employment. Executive will and hereby does assign to the Company all rights to trade secrets and other products relating to the Company’s business developed by Executive alone

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or in conjunction with others at any time while employed by the Company. In the event of any conflict between the provision of this Section and of any applicable employee manual or similar policy of the Company, the provisions of this Section will govern.

(c)Non-Competition. During the Employment Period, and for a six (6) month period after the date Executive’s employment is terminated by the Company or by Executive for any reason other than a termination of Executive’s employment by Executive without Good Reason, Executive will not directly or indirectly (without the prior written consent of the Company):

(i)hold a five percent (5%) or greater equity (including stock options whether or not exercisable), voting or profit participation interest in a Competitive Enterprise, or

(ii)associate (including as a director, officer, employee, partner, consultant, agent or advisor) with a Competitive Enterprise and in connection with Executive’s association engage, or directly or indirectly manage or supervise personnel engaged, in any activity:

(A)that is substantially related to any activity in which Executive was engaged with the Company during the twelve (12) months prior to the Termination Date,

(B)that is substantially related to any activity for which Executive had direct or indirect managerial or supervisory responsibility with the Company during the twelve (12) months prior to the Termination Date, or

(C)that calls for the application of specialized knowledge or skills substantially related to those used by Executive in Executive’s activities with the Company during the twelve (12) months prior to the Termination Date.

For purposes of this Agreement, “Competitive Enterprise” means any business enterprise that either (A) engages in any activity that competes anywhere with any activity in which the Company is then engaged or (B) holds a five percent (5%) or greater equity, voting or profit participation interest in any enterprise that engages in such a competitive activity.

(d)Non-Solicitation. During the Employment Period, and for a one (1) year period after Executive’s employment is terminated by the Company or Executive for any reason, Executive will not, in any manner, directly or indirectly (without the prior written consent of the Company):

(i)Solicit any Client to transact business with a Competitive Enterprise with respect to a competitive activity or Solicit any Client to reduce or refrain from doing any business with the Company,

(ii)transact business with any Client with respect to a competitive activity that would cause Executive to be engaged in a Competitive Enterprise,

(iii)interfere with or damage any relationship between the Company and a
Client, or

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(iv)Solicit anyone who is then an employee of the Company (or who was an employee of the Company within the prior twelve (12) months) to resign from the Company or to apply for or accept employment with any other business or enterprise.

For purposes of this Agreement, a “Client” means any client or prospective client of the Company to whom Executive provided services, or for whom Executive transacted business, or whose identity became known to Executive in connection with Executive’s relationship with or employment by the Company, and “Solicit” means any direct or indirect communication of any kind, regardless of who initiates it, that in any way invites, advises, encourages or requests any person to take or refrain from taking any action.

(e)Non-Disparagement. During the term of this Agreement and thereafter Executive will not, in any manner, directly or indirectly make or publish any statement (orally or in writing) that would libel, slander, disparage, denigrate, ridicule or criticize the Company, any of its affiliates or any of their employees, officers or directors. During the term of this Agreement and thereafter the Company will not, in any manner, directly or indirectly make or publish any statement (orally or in writing) that would libel, slander, disparage, denigrate, ridicule or criticize Executive; provided, however, (i) that that the Company shall not be accountable for any actions of its employees, provided that the Company instructs its executive officers to comply with the foregoing, and (ii) notwithstanding the foregoing, during Executive’s employment, nothing shall prevent the Company from reasonably critiquing, publicly or otherwise, the business operations of the Company or Executive’s performance related thereto.

(f)Validity. The terms and provisions of this Section 9 are intended to be separate and divisible provisions and if, for any reason, any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of this Agreement will thereby be affected. The parties acknowledge that the potential restrictions on Executive’s future employment imposed by this Section 9 are reasonable in both duration and geographic scope and in all other respects. If for any reason any court of competent jurisdiction will find any provisions of this Section 9 unreasonable in duration or geographic scope or otherwise, Executive and the Company agree that the restrictions and prohibitions contained herein will be effective to the fullest extent allowed under applicable law in such jurisdiction.

(g)Injunctive Relief. In the event of a breach or threatened breach of this Section 9, Executive agrees that the Company will be entitled to injunctive relief in a court of appropriate jurisdiction to remedy any such breach or threatened breach, Executive acknowledging that damages would be inadequate and insufficient.

(h)Cease Payments. In the event that Executive materially breaches Section 9(a), 9(b), 9(c), 9(d) or 9(e), the Company’s obligation to make or provide payments or benefits under Section 7 will cease.

(i)Continuing Operation. Except as specifically provided in this Section 9, the termination of Executive’s employment or of this Agreement will have no effect on the continuing operation of this Section 9.

10.Indemnification. The Company will indemnify Executive and hold Executive harmless to the fullest extent permitted by law for any action or inaction by Executive while

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serving as an officer and director of the Company or, at the Company’s request, as an officer or director of any other entity or as a fiduciary of any benefit plan, including advancement of applicable, reasonable legal expenses. The Company will obtain customary directors’ and officers’ liability insurance.

11.Successors; Binding Agreement. This Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement will inure to the benefit of, and be enforceable by, Executive’s legal representatives. This Agreement shall inure to the benefit of, and be binding upon, the Company and its successors and assigns.

12.Notice. For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement will be in writing and will be deemed to have been duly given when delivered either personally or by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows:

If to Executive:

The address then on file with the Company 
If to the Company:

Ziff Davis, Inc.
114 5th Avenue, 15th Floor
New York, NY 10011 
(212) 503-3500

Attention: Legal Department 
Email: legal@ziffdavis.com

13.Resolution of Differences Over Breaches of Agreement. The parties will use good faith efforts to resolve any controversy or claim arising out of, or relating to this Agreement or the breach thereof, first in accordance with the Company’s internal review procedures, except that this requirement will not apply to any claim or dispute under or relating to Section 9 of this Agreement. If, despite their good faith efforts, the parties are unable to resolve such controversy or claim through the Company’s internal review procedures, then such controversy or claim will be resolved by arbitration in [New York], in accordance with the rules then applicable of the American Arbitration Association. The Company will pay the administrative fees and the arbitrator’s fees and expenses. The prevailing party shall be awarded such party’s expenses (including any administrative fees and arbitrator’s fees and expenses incurred by the Company in connection with the preceding sentence) and reasonable attorneys’ fees in an aggregate amount not to exceed
$200,000. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

14.Amendments. No provisions of this Agreement may be amended, modified, or waived unless such amendment or modification is agreed to in writing signed by Executive and by a duly authorized officer of the Company, and such waiver is set forth in writing and signed by the party to be charged. The invalidity or unenforceability of any provision or

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provisions of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect.

15.Governing Law. The validity, interpretation, construction and performance of this Agreement will be governed by the laws of the State of Delaware without regard to its conflicts of law principles.

16.Waiver of Jury Trial. To the extent permitted by law, Executive and the Company waive any and all rights to a jury trial with respect to any controversy or claim between Executive and the Company arising out of or relating to or concerning this Agreement.

17.Entire Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, term sheets, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto in respect of such subject matter.

18.Section 409A Compliance. To the extent applicable, this Agreement is intended to comply with or to be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) (together with the applicable regulations thereunder, “Section 409A”). To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A or to the extent any provision in this Agreement must be modified to comply with Section 409A (including, without limitation, Treasury Regulation 1.409A-3(c)), such provision will be read, or will be modified (with the mutual consent of the parties, which consent will not be unreasonably withheld), as the case may be, in such a manner so that all payments due under this Agreement will comply with Section 409A. For purposes of Section 409A, each payment made under this Agreement will be treated as a separate payment. Because Executive is a “specified employee” (as that term is used in Section 409A), on the date his separation from service becomes effective, any benefits payable under Section 7 that constitute non-qualified deferred compensation under Section 409A shall be delayed until the earlier of (a) the business day following the six- month anniversary of the date his separation from service becomes effective, and (b) the date of Executive’s death, but only to the extent necessary to avoid such penalties under Section 409A. On the earlier of (a) the business day following the six-month anniversary of the date his separation from service becomes effective, and (b) the date of Executive’s death, the Company shall pay Executive in a lump sum the aggregate value of the non-qualified deferred compensation that the Company otherwise would have paid the Executive prior to that date under Section 7. Any termination of Executive’s employment triggering payment of benefits under Section 7(v) must constitute a “separation from service” under Section 409A and Treas. Reg. §1.409A-1(h) before distribution of such benefits can commence. To the extent that the termination of Executive’s employment does not constitute a separation of service, any benefits payable under Section 7(b) that constitute deferred compensation under Section 409A shall be delayed until after the date of a subsequent event constituting a separation of service. In no event may Executive, directly or indirectly, designate the calendar year of payment. All reimbursements provided under this Agreement will be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the

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expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another benefit. Executive further acknowledges that any tax liability incurred by Executive under Section 409A of the Code is solely the responsibility of Executive. Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as amended, and will also include any regulations, or any other formal guidance, promulgated with respect to such section by the U.S. Department of the Treasury or the Internal Revenue Service. Finally, if the period after the Termination Date during which the Release must become effective spans two calendar years, any payments or benefits conditioned on the Release will not be made or commence to be made until the second calendar year.

19.Representations. Executive represents and warrants to the Company that Executive is under no contractual or other binding legal restriction which would prohibit Executive from entering into and performing under this Agreement or that would limit the performance Executive’s duties under this Agreement.

20.Withholding Taxes. The Company may withhold from any amounts or benefits payable under this Agreement income taxes and payroll taxes that are required to be withheld pursuant to any applicable law or regulation.

21.No Waiver. The failure of a party hereto to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

22.Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed an original, and all of which together will constitute one and the same instrument. This Agreement will become binding when one or more counterparts hereof, individually or taken together, will bear the signatures of all of the parties reflected hereon as the signatories. Photographic, faxed, emailed or PDF copies of such signed counterparts may be used in lieu of the originals for any purpose.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

												
	ZIFF DAVIS, INC.		EXECUTIVE
	By:	/s/ Michelle Dvorkin		/s/ Jeremy D. Rossen
		

Michelle Dvorkin
Chief Human Resources Officer
		Jeremy D. Rossen

-11-Exhibit
10.15

 

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

 

This
Amended and Restated Employment Agreement (the “Amended Agreement”) is entered into as of the 1st day of
September, 2019, by and between Shuttle Pharmaceuticals Holdings, Inc., a Delaware corporation (the “Company”),
and Michael Vander Hoek, MHSA, an individual residing at the address set forth on Schedule A hereto (the “Executive”).

 

INTRODUCTION

 

WHEREAS,
the Company is in the business of the development and commercialization of specialty pharmaceuticals (the “Business”);

 

WHEREAS,
the Company and the Executive previously entered into an Employment Agreement, dated May 30, 2019 (the “Employment Agreement”),
pursuant to which the Executive was appointed to the position of Vice President, Regulatory and Operations, which Employment Agreement
had been duly adopted by the Company’s board of directors (the “Board”);

 

WHEREAS,
the Company’s Board recently appointed the Executive to the position of Chief Financial Officer, in addition to the position of
Vice President, Regulatory and Operations;

 

WHEREAS,
the Company and Executive desire to amend and restate Executive’s Employment Agreement so as to account for the addition of the
Chief Financial Officer title and responsibilities, as set forth on Schedule A hereto;

 

WHEREAS,
the Executive desires to be employed by the Company in such capacity, subject to the terms of this Agreement; and

 

WHEREAS,
the Executive acknowledges that he will not be entitled to compensation under this Agreement until such time as the Company either completes
an initial public offering or otherwise becomes a publicly reporting company.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the premises and mutual promises herein below set forth, the parties hereby agree as follows:

 

1.
Employment Period. The initial term of the Executive’s employment by the Company (directly or through its wholly-owned subsidiary
Shuttle Pharmaceuticals, Inc.) pursuant to this Agreement shall commence upon the date hereof (the “Effective Date”)
and shall continue for that period of calendar months from the Effective Date set forth on Schedule A hereto (the “Employment
Period”). Thereafter, the Employment Period shall automatically renew for successive periods of one (1) year each, unless either
party shall have given to the other at least thirty (30) days’ prior written notice of their intention not to renew the Executive’s
employment prior to the end of the Employment Period or the then applicable renewal term, as the case may be. In any event, the Employment
Period may be terminated as provided herein.

 

    	 

    	 

    

 

2.
Employment; Duties.

 

(a)
Subject to the terms and conditions set forth herein, the Company hereby employs the Executive to act for the Company during the Employment
Period in the capacity set forth on Schedule A hereto, and the Executive hereby accepts such employment. The duties and responsibilities
of the Executive shall include such duties and responsibilities appropriate to such office and as are normally associated with and appropriate
for such position and as the Company’s board of directors (the “Board”) may from time to time reasonably assign
to the Executive.

 

(b)
Executive recognizes that during the period of Executive’s employment hereunder, Executive owes an undivided duty of loyalty to
the Company, and Executive will use Executive’s good faith efforts to promote and develop the business of the Company and its subsidiaries
(the Company’s subsidiaries from time to time, together with any other affiliates of the Company, the “Affiliates”).
Executive shall devote all of Executive’s business time, attention and skills to the performance of Executive’s services
as an executive of the Company. Recognizing and acknowledging that it is essential for the protection and enhancement of the brand name,
reputation and business of the Company and the goodwill pertaining thereto, Executive shall perform the Executive’s duties under
this Agreement professionally, in accordance with the applicable laws, rules and regulations and such standards, policies and procedures
established by the Company and the industry from time to time.

 

(c)
However, the parties agree that: (i) Executive may devote a reasonable amount of his time to civic, community, or charitable activities
and may serve as a director of other corporations (provided that any such other corporation is not a competitor of the Company, as determined
by the Board) and to other types of business or public activities not expressly mentioned in this paragraph and (ii) Executive may participate
as a non-employee director and/or investor in other companies and projects as disclosed by Executive to, and approved by, the Board,
so long as Executive’s responsibilities with respect thereto do not conflict or interfere with the faithful performance of his
duties to the Company.

 

3.
Place of Employment The Executive’s services shall be performed at the Company’s offices located at One Research Court,
Suite 450, Rockville, MD 20850, at any other location at which the Company now or hereafter has a business facility, at employee’s
home office, or at any other location where Executive’s presence is necessary to perform his duties. The parties acknowledge that
the Executive may be required to travel in connection with the performance of his duties hereunder.

 

4.
Base Salary. The Executive shall be entitled to receive a salary from the Company during the Employment Period at a rate
per year indicated on Schedule A hereto (the “Base Salary”), which Base Salary shall commence upon the Company’s
completion of a cross-over round of financing, an initial public offering (“IPO”) or upon the Company becoming a publicly
reporting company under the Securities Exchange Act of 1934, as amended, whichever comes first. Once the Board has established the Base
Salary, such Base Salary shall be payable in monthly installments in accordance with the Company’s customary payroll practices.
The Executive’s Base Salary may be increased on each anniversary of the Effective Date, at the Board’s sole discretion.

 

    	2

    	 

    

 

5.
Bonus.

 

(a)
The Executive shall be eligible to receive an annual cash bonus (the “Annual Bonus”), which shall be earned by the
Executive based upon the level of achievement of specific operational, financial or other milestones by the Company established by the
Board in consultation with the Executive (the “Milestones”) indicated on the attached Schedule B, and based
upon the Executive’s performance of the Executive Duties set forth on Schedule A. The amount of the Annual Bonus, if any,
and the method of payment of all or any portion of any Annual Bonus (which will be paid in cash) shall be determined by the Board in
its sole discretion. If the Board determines that any portion of the Annual Bonus is to be paid in cash, such amount shall be payable
in U.S. dollars within ten (10) days of the filing with the Securities and Exchange Commission of the Company’s annual report on
Form 10-K.

 

(b)
The Executive shall be eligible to participate in any other bonus or incentive program established by the Company for executives of the
Company.

 

6.
Other Benefits

 

(a)
Grant of Restricted Stock Units. The Executive shall be entitled to receive a number of restricted stock units (“Restricted
Stock Units”) as set forth on Schedule A hereto, issuable under the Company’s 2018 Equity Incentive Plan, which
will vest annually in one-third increments commencing on the first anniversary date of the grant of Restricted Stock Units, in accordance
with the terms of a separate Restricted Stock Unit Award Agreement, a form of which is attached hereto as Exhibit A. Any additional
equity awards to the Executive shall be at the option of the Board.

 

(b)
Restrictions. Any and all shares of stock, options, restricted stock units and other equity awards granted to or owned by the
Executive will be subject to the share ownership guidelines and insider trading and blackout policies adopted from time to time by the
Board of Directors for senior executives of the Company and will also be subject to applicable holding periods and transaction reporting
requirements under applicable securities laws.

 

(c)
Insurance and Other Benefits. During the Employment Period, the Executive and the Executive’s dependents shall be entitled
to participate in any Company insurance programs and any applicable benefit plans, as the same may be adopted and/or amended from time
to time (the “Benefits”). The Executive shall be bound by all of the policies and procedures relating to Benefits
established by the Company from time to time.

 

(d)
Vacation; Personal Days. During the Employment Period, the Executive shall be entitled to an annual vacation of 30 working days,
such duration consistent with the Company’s policies from time to time, as determined by the Board. The Executive shall be entitled
to paid personal days on a basis consistent with the Company’s other senior executives, as determined by the Board.

 

    	3

    	 

    

 

(e)
Expense Reimbursement. The Company shall reimburse the Executive for all reasonable business, promotional, travel and entertainment
expenses (“Reimbursable Expenses”) incurred or paid by the Executive during the Employment Period in the performance of Executive’s
services under this Agreement on a basis consistent with the Company’s other senior executives, as determined by the Board, provided
that the Executive furnishes to the Company appropriate documentation required by the Internal Revenue Code and/or other taxing authorities
in a timely fashion in connection with such expenses and shall furnish such other documentation and accounting as the Company may from
time to time reasonably request.

 

7.
Termination; Compensation Due Upon Termination of Employment. The Executive’s employment with the Company shall be entirely
“at-will,” meaning that either the Executive or the Company may terminate such employment relationship by terminating this
Agreement in writing delivered to the other party at any time for any reason or for no reason at all, subject, however, to the terms
of this Section 7. The Executive’s right to compensation for periods after the date his employment with the Company terminates
shall be determined in accordance with the provisions of paragraphs (a) through (e) below.

 

(a)
Voluntary Resignation; Termination without Cause.

 

(i)
Voluntary Resignation. The Executive may terminate his employment at any time upon thirty (30) days prior written notice
to the Company. In the event of the Executive’s voluntary termination of employment other than for Good Reason (as defined below),
the Company shall have no obligation to make payments to the Executive in accordance with the provisions of Sections 4 or 5, except as
otherwise required by this Agreement or by applicable law, to provide the benefits described in Section 6 for periods after the date
on which the Executive’s employment with the Company terminates due to the Executive’s voluntary resignation, except for
the payment of the Executive’s Base Salary accrued through the date of such resignation.

 

(ii)
Termination without Cause.

 

(A)
If the Executive’s employment is terminated by the Company without Cause (as defined below): (1) the Company shall continue to
pay the Executive the Base Salary (at the rate in effect on the date the Executive’s employment is terminated) until the end of
the Severance Period (as defined below), (y) with respect to the Annual Bonus, to the extent the Milestones are achieved or, in the absence
of Milestones, the Board has, in its sole discretion, otherwise determined an amount for the Executive’s bonus for the current
Employment Period, pay the Executive a pro rata portion of the Annual Bonus for the year of the Employment Period on the date such Annual
Bonus would have been payable to the Executive had the Executive remained employed by the Company, and (z) pay any other accrued compensation
and Benefits; and (2) any of the Executive’s unvested stock options as set forth on Schedule A attached hereto shall automatically
vest upon the Executive’s termination without Cause. The Executive shall have no further rights under this Agreement or otherwise
to receive any other compensation or benefits after such termination of employment.

 

    	4

    	 

    

 

(B)
If, following a termination of employment without Cause, the Executive breaches the provisions of Sections 8, 9 or 10 hereof, the
Executive shall not be eligible, as of the date of such breach, for the payments and benefits described in Section 7(a)(ii)(A) above,
and any and all obligations and agreements of the Company with respect to such payments shall thereupon cease.

 

(b)
Discharge for Cause. Upon written notice to the Executive, the Company may terminate the Executive’s employment for “Cause”
if any of the following events shall occur:

 

(i)
any act or omission that constitutes a material breach by the Executive of any of his obligations under this Agreement;

 

(ii)
the willful and continued failure or refusal of the Executive to satisfactorily perform the duties reasonably required of him as an employee
of the Company;

 

(iii)
the Executive’s conviction of, or plea of nolo contendere to, (i) any felony or (ii) a crime involving dishonesty
or moral turpitude or which could reflect negatively upon the Company or otherwise impair or impede its operations;

 

(iv)
the Executive’s engaging in any misconduct, negligence, act of dishonesty (including, without limitation, theft or embezzlement),
violence, threat of violence or any activity that could result in any violation of federal securities laws, in each case, that is injurious
to the Company or any of its Affiliates;

 

(v)
the Executive’s material breach of a written policy of the Company or the rules of any governmental or regulatory body applicable
to the Company;

 

(vi)
the Executive’s refusal to follow the directions of the Board, unless such directions are, in the written opinion of legal counsel,
illegal or in violation of applicable regulations;

 

(vii)
any other willful misconduct by the Executive which is materially injurious to the financial condition or business reputation of the
Company or any of its Affiliates, or

 

(viii)
the Executive’s breach of his obligations under Section 8, 9 or 10 hereof.

 

In
the event Executive is terminated for Cause, the Company shall have no obligation to make payments to Executive in accordance with the
provisions of Sections 4 or 5, or, except as otherwise required by law, to provide the benefits described in Section 6, for periods after
the Executive’s employment with the Company is terminated on account of the Executive’s discharge for Cause except for the
Executive’s then applicable Base Salary accrued through the date of such termination.

 

    	5

    	 

    

 

(c)
Disability. The Company shall have the right, but shall not be obligated to, terminate the Executive’s employment hereunder
in the event the Executive becomes disabled such that he is unable to discharge his duties to the Company for a period of ninety (90)
consecutive days or one hundred twenty (120) days in any one hundred eighty (180) consecutive day period (unless longer periods are not
required under applicable local labor regulations) (a “Permanent Disability”). In the event of a termination of employment
due to a Permanent Disability, the Company shall be obligated to continue to make payments to the Executive in an amount equal to the
then applicable Base Salary for the Severance Period (as defined below), payable in the form of salary continuation for the applicable
Severance Period after the Executive’s employment with the Company is terminated due to a Permanent Disability. A determination
of a Permanent Disability shall be made by a physician satisfactory to both the Executive and the Company; provided, however,
that if the Executive and the Company do not agree on a physician, the Executive and the Company shall each select a physician and those
two physicians together shall select a third physician, whose determination as to a Permanent Disability shall be binding on all parties.

 

(d)
Death. The Executive’s employment hereunder shall terminate upon the death of the Executive. The Company shall have no obligation
to make payments to the Executive in accordance with the provisions of Sections 4 or 5, or, except as otherwise required by law or the
terms of any applicable benefit plan, to provide the benefits described in Section 6 for periods after the date of the Executive’s
death except for then applicable Base Salary earned and accrued through the date of death, payable to the Executive’s beneficiary,
as the Executive shall have indicated in writing to the Company (or if no such beneficiary has been designated, to Executive’s
estate).

 

(e)
Termination for Good Reason. The Executive may terminate this Agreement at any time for Good Reason. In the event of termination
under this paragraph (e), the Company shall pay to the Executive severance in an amount equal to the Executive’s then applicable
Base Salary for a period equal to the number of months set forth on Schedule A hereto (the “Severance Period”),
subject to the Executive’s continued compliance with Sections 8, 9 and 10 of this Agreement, payable in the form of salary continuation
for the applicable Severance Period following the Executive’s termination, and subject to the Company’s regular payroll practices
and required withholdings. Such severance shall be reduced by any cash remuneration paid to the Executive because of the Executive’s
employment or self-employment during the Severance Period. The Executive shall continue to receive all Benefits (either through the Company
or an Affiliate) during the Severance Period. The Executive shall have no further rights under this Agreement or otherwise to receive
any other compensation or benefits after such resignation. For the purposes of this Agreement, “Good Reason” shall mean any
of the following (without Executive’s express written consent):

 

(i)
the assignment to the Executive of duties that are significantly different from, and that result in a substantial diminution of, the
duties that he assumed on the Effective Date;

 

    	6

    	 

    

 

(ii)
removal of the Executive from his position as indicated on Schedule A hereto, or the assignment to the Executive of duties that
are significantly different from, and that result in a substantial diminution of, the duties that he assumed under this Agreement, within
twelve (12) months after a Change of Control (as defined below);

 

(iii) 
a reduction by the Company in the Executive’s then applicable Base Salary or other compensation, unless said reduction is pari
passu with other senior executives of the Company;

 

(iv)
the taking of any action by the Company that would, directly or indirectly, materially reduce the Executive’s benefits, unless
said reductions are pari passu with other senior executives of the Company; or

 

(v)
a breach by the Company of any material term of this Agreement that is not cured by the Company within thirty (30) days following receipt
by the Company of written notice thereof.

 

For
purposes of this Agreement, “Change of Control” shall mean the occurrence of any one or more of the following: (i) the accumulation,
whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of 50% or more of the shares of the outstanding
equity securities of the Company, (ii) a merger or consolidation of the Company in which the Company does not survive as an independent
company or upon the consummation of which the holders of the Company’s outstanding equity securities prior to such merger or consolidation
own less than 50% of the outstanding equity securities of the Company after such merger or consolidation, or (iii) a sale of all
or substantially all of the assets of the Company; provided, however, that the following acquisitions shall not constitute a Change of
Control for the purposes of this Agreement: (A) any acquisitions of common stock or securities convertible into common stock directly
from the Company, or (B) any acquisition of common stock or securities convertible into common stock by any employee benefit plan (or
related trust) sponsored by or maintained by the Company.

 

(f)
Notice of Termination. Any termination of employment by the Company or the Executive shall be communicated by a written “Notice
of Termination” to the other party hereto given in accordance with Section 16 of this Agreement. In the event of a termination
by the Company for Cause, the Notice of Termination shall (i) indicate the specific termination provision in this Agreement relied
upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated and (iii) specify the date of termination, which date shall be the date of such notice.
The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a
showing of Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the
Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder

 

    	7

    	 

    

 

(g)
Resignation of Executive Officer. The termination of the Executive’s employment for any reason will constitute the Executive’s
resignation from (i) any director, officer or employee position the Executive has with the Company or any of its Affiliates, and
(ii) all fiduciary positions (including as a trustee) the Executive holds with respect to any employee benefit plans or trusts established
by the Company. The Executive agrees that this Agreement shall serve as written notice of resignation in this circumstance, unless otherwise
required by any plan or applicable law.

 

8.
Non-Competition; Non-Solicitation.

 

(a)
For the duration of the Employment Period and, unless the Company terminates the Executive’s employment without Cause, during the
Severance Period (the “Non-compete Period”), the Executive shall not, directly or indirectly, except as specifically
provided in the last sentence of Section 2(c) hereof, engage or invest in, own, manage, operate, finance, control or participate in the
ownership, management, operation, financing, or control of, be employed by, associated with, or in any manner connected with, lend any
credit to, or render services or advice to, any business, firm, corporation, partnership, association, joint venture or other entity
that engages or conducts any business the same as or substantially similar to the Business or any other business engaged in or proposed
to be engaged in or conducted by the Company and/or any of its Affiliates during the Employment Period, or then included in the future
strategic plan of the Company and/or any of its Affiliates, anywhere within North America; provided, however, that the
Executive may own less than 5% in the aggregate of the outstanding shares of any class of securities of any enterprise (but without otherwise
participating in the activities of such enterprise), other than any such enterprise with which the Company competes or is currently engaged
in a joint venture, if such securities are of a class listed on any national or regional securities exchange or have been registered
under Section 12(b) or (g) of the Exchange Act.

 

(b)
During the Employment Period and for a period of twelve (12) months following termination of the Executive’s employment with the
Company, the Executive shall not:

 

(i)
solicit or hire, or attempt to recruit, persuade, solicit or hire, any employee, or independent contractor of, or consultant to, the
Company, or its Affiliates, to leave the employment (or independent contractor relationship) thereof, whether or not any such employee
or independent contractor is party to an employment agreement; or

 

(ii)
attempt in any manner to solicit or accept from any customer or client of the Company or any of its Affiliates, with whom the Company
or any of its Affiliates had significant contact during the term of this Agreement, business of the kind or competitive with the business
done by the Company or any of its Affiliates with such customer or to persuade or attempt to persuade any such customer to cease to do
business or to reduce the amount of business which such customer has customarily done or is reasonably expected to do with the Company
or any of its Affiliates or if any such customer elects to move its business to a person other than the Company or any of its Affiliates,
provide any services (of the kind or competitive with the Business of the Company or any of its Affiliates) for such customer, or have
any discussions regarding any such service with such customer, on behalf of such other person.

 

    	8

    	 

    

 

(c)
The Executive recognizes and agrees that because a violation by the Executive of his obligations under this Section will
cause irreparable harm to the Company that would be difficult to quantify and for which money damages would be inadequate, the Company
shall have the right to injunctive relief to prevent or restrain any such violation, without the necessity of posting a bond. The Non-compete
Period will be extended by the duration of any violation by the Executive of any of his obligations under this Section.

 

(d)
The Executive expressly agrees that the character, duration and scope of the covenant not to compete are reasonable in light of the circumstances
as they exist at the date upon which this Agreement has been executed. However, should a determination nonetheless be made by a court
of competent jurisdiction at a later date that the character, duration or geographical scope of the covenant not to compete is unreasonable
in light of the circumstances as they then exist, then it is the intention of the Executive, on the one hand, and the Company, on the
other, that the covenant not to compete shall be construed by the court in such a manner as to impose only those restrictions on the
conduct of the Executive which are reasonable in light of the circumstances as they then exist and necessary to assure the Company of
the intended benefit of the covenant not to compete.

 

9.
Inventions and Patents. The Executive acknowledges that all inventions, innovations, improvements, know-how, plans, development,
methods, designs, analyses, specifications, software, drawings, reports and all similar or related information (whether or not patentable
or reduced to practice) which related to any of the Company’s actual or proposed business activities and which are created, designed
or conceived, developed or made by the Executive during the Executive’s past or future employment by the Company or any Affiliates,
or any predecessor thereof (“Work Product”), belong to the Company, or its Affiliates, as applicable. Any copyrightable work
falling within the definition of Work Product shall be deemed a “work made for hire” and ownership of all right title and
interest shall rest in the Company. The Executive hereby irrevocably assigns, transfers and conveys, to the full extent permitted by
law, all right, title and interest in the Work Product, on a worldwide basis, to the Company to the extent ownership of any such rights
does not automatically vest in the Company under applicable law. The Executive will promptly disclose any such Work Product to the Company
and perform all actions requested by the Company (whether during or after employment) to establish and confirm ownership of such Work
Product by the Company (including, without limitation, assignments, consents, powers of attorney and other instruments).

 

10.
Confidentiality.

 

(a)
The Executive understands that the Company and/or its Affiliates, from time to time, may impart to the Executive confidential information,
whether such information is written, oral, electronic or graphic.

 

    	9

    	 

    

 

(b)
For purposes of this Agreement, “Confidential Information” means information, which is used in the business of the Company
or its Affiliates and (i) is proprietary to, about or created by the Company or its Affiliates, (ii) gives the Company or its
Affiliates some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental
to the interests of the Company or its Affiliates, (iii) is designated as Confidential Information by the Company or its Affiliates,
is known by the Executive to be considered confidential by the Company or its Affiliates, or from all the relevant circumstances should
reasonably be assumed by the Executive to be confidential and proprietary to the Company or its Affiliates, or (iv) is not generally
known by non-Company personnel. Such Confidential Information includes, without limitation, the following types of information and other
information of a similar nature (whether or not reduced to writing or designated as confidential):

 

(i)
 internal personnel and financial information of the Company or its Affiliates, vendor information (including vendor characteristics,
services, prices, lists and agreements), purchasing and internal cost information, internal service and operational manuals, and the
manner and methods of conducting the business of the Company or its Affiliates;

 

(ii)
 marketing and development plans, price and cost data, price and fee amounts, pricing and billing policies, bidding, quoting procedures,
marketing techniques, forecasts and forecast assumptions and volumes, and future plans and potential strategies (including, without limitation,
all information relating to any oil and gas prospect and the identity of any key contact within the organization of any acquisition prospect)
of the Company or its Affiliates which have been or are being discussed;

 

(iii)
 names of customers and their representatives, contracts (including their contents and parties), customer services, and the type,
quantity, specifications and content of products and services purchased, leased, licensed or received by customers of the Company or
its Affiliates; and

 

(iv)
 confidential and proprietary information provided to the Company or its Affiliates by any actual or potential customer, government
agency or other third party (including businesses, consultants and other entities and individuals).

 

The
Executive hereby acknowledges the Company’s exclusive ownership of such Confidential Information.

 

(c)
The Executive agrees as follows: (1) only to use the Confidential Information to provide services to the Company and its Affiliates;
(2) only to communicate the Confidential Information to fellow employees, agents and representatives on a need-to-know basis; and (3)
not to otherwise disclose or use any Confidential Information, except as may be required by law or otherwise authorized by the Board.
Upon demand by the Company or upon termination of the Executive’s employment, the Executive will deliver to the Company all manuals,
photographs, recordings and any other instrument or device by which, through which or on which Confidential Information has been recorded
and/or preserved, which are in the Executive’s possession, custody or control.

 

    	10

    	 

    

 

11.
Executive’s Representation. The Executive hereby represents that the Executive’s entry into this Agreement and performance
of the services hereunder will not violate the terms or conditions of any other agreement to which the Executive is a party.

 

12.
Arbitration. In the event of any breach arising from the performance of this Agreement, either party may request arbitration.
In such event, the parties will submit to arbitration by a qualified arbitrator with the definition and laws of the State of Maryland.
Such arbitration shall be final and binding on both parties.

 

13.
Governing Law/Jurisdiction. This Agreement and any disputes or controversies arising hereunder shall be construed and enforced
in accordance with and governed by the internal laws of the State of Maryland without regard to the conflicts of laws principles thereof.

 

14.
Public Company Obligations; Indemnification.

 

(a)
Executive acknowledges that the Company intends to become a publicly reporting company whose shares of common stock will be registered
under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and whose common stock will be registered
under the Exchange Act, and that, after the Company becomes a publicly reporting company, this Agreement will be subject to the public
filing requirements of the Exchange Act. In addition, both parties acknowledge that the Executive’s compensation and perquisites
(each as determined by the rules of the US Securities and Exchange Commission (the “SEC”) or any other regulatory body or
exchange having jurisdiction) (which may include benefits or regular or occasional aid/assistance, such as recreation, club memberships,
meals, education for his family, vehicle, lodging or clothing, occasional bonuses or anything else he receives, during the Employment
Period and any renewals thereof, in cash or in kind) paid or payable or received or receivable under this Agreement or otherwise, and
his transactions and other dealings with the Company, may be required to be publicly disclosed.

 

(b)
Executive acknowledges and agrees that the applicable insider trading rules, transaction reporting rules, limitations on disclosure of
non-public information and other requirements set forth in the Securities Act, the Exchange Act and rules and regulations promulgated
by the SEC may apply to this Agreement and Executive’s employment with the Company.

 

(c)
Executive (on behalf of himself, as well as the Executive’s executors, heirs, administrators and assigns) absolutely and unconditionally
agrees to indemnify and hold harmless the Company and all of its past, present and future affiliates, executors, heirs, administrators,
shareholders, employees, officers, directors, attorneys, accountants, agents, representatives, predecessors, successors and assigns from
any and all claims, debts, demands, accounts, judgments, causes of action, equitable relief, damages, costs, charges, complaints, obligations,
controversies, actions, suits, proceedings, expenses, responsibilities and liabilities of every kind and character whatsoever (including,
but not limited to, reasonable attorneys’ fees and costs) in the event of Executive’s breach of any obligation of Executive
under the Securities Act, the Exchange Act, any rules promulgated by the SEC and any other applicable federal, state or foreign laws,
rules, regulations or orders.

 

    	11

    	 

    

 

15.
Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and thereof and supersedes and cancels any and all previous agreements, both written and oral, regarding the subject matter hereof
between the parties hereto. This Agreement shall not be changed, altered, modified or amended, except by a written agreement signed by
both parties hereto.

 

16.
Notices. All notices, requests, demands and other communications called for or contemplated hereunder shall be in writing and
shall be deemed to have been given when delivered to the party to whom addressed or when sent by telecopy (if promptly confirmed by registered
or certified mail, return receipt requested, prepaid and addressed) to the parties, their successors in interest, or their assignees
at the following addresses, or at such other addresses as the parties may designate by written notice in the manner aforesaid:

 

	 	(a)	to the Company at:

 

Shuttle
Pharmaceuticals Holdings, Inc.

One
Research Court, Suite 450

Rockville,
MD 20850

Attn:
Chief Executive Officer

Email:
anatoly.dritschilo@shuttlepharma.org

 

with
a copy to:

 

Michelman
& Robinson LLP

800
Third Avenue, 24th Floor

New
York, NY 10022

Attn:
Megan J. Penick, Esq.

Email:
mpenick@mrllp.com

 

	 	(b)	to the Executive as set forth
  on Schedule A hereto.

 

All
such notices, requests and other communications will (i) if delivered personally to the address as provided in this Section, be deemed
given upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided for in this Section, be deemed given
upon facsimile confirmation, (iii) if delivered by mail in the manner described above to the address as provided for in this Section,
be deemed given on the earlier of the third business day following mailing or upon receipt and (iv) if delivered by overnight courier
to the address as provided in this Section, be deemed given on the earlier of the first business day following the date sent by such
overnight courier or upon receipt (in each case regardless of whether such notice, request or other communication is received by any
other person to whom a copy of such notice is to be delivered pursuant to this Section). Either party may, by notice given to the other
party in accordance with this Section, designate another address or person for receipt of notices hereunder.

 

    	12

    	 

    

 

17.
Severability. If any term or provision of this Agreement, or the application thereof to any person or under any circumstance,
shall to any extent be invalid or unenforceable, the remainder of this Agreement, or the application of such terms to the persons or
under circumstances other than those as to which it is invalid or unenforceable, shall be considered severable and shall not be affected
thereby, and each term of this Agreement shall be valid and enforceable to the fullest extent permitted by law. The invalid or unenforceable
provisions shall, to the extent permitted by law, be deemed amended and given such interpretation as to achieve the economic intent of
this Agreement.

 

18.
Waiver. The failure of any party to insist in any one instance or more upon strict performance of any of the terms and conditions
hereof, or to exercise any right or privilege herein conferred, shall not be construed as a waiver of such terms, conditions, rights
or privileges, but same shall continue to remain in full force and effect. Any waiver by any party of any violation of, breach of or
default under any provision of this Agreement by the other party shall not be construed as, or constitute, a continuing waiver of such
provision, or waiver of any other violation of, breach of or default under any other provision of this Agreement.

 

19.
Successors and Assigns. This Agreement shall be binding upon the Company and any successors and assigns of the Company. Neither
this Agreement nor any right or obligation hereunder may be assigned by the Executive. The Company may assign this Agreement and its
right and obligations hereunder, in whole or in part.

 

20.
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which
together shall constitute one and the same instrument. Additionally, a facsimile counterpart of this Agreement shall have the same effect
as an originally executed counterpart.

 

21.
Headings. Headings in this Agreement are for reference purposes only and shall not be deemed to have any substantive effect.

 

22.
Opportunity to Seek Advice. The Executive acknowledges and confirms that he has had the opportunity to seek such legal, financial
and other advice and representation as he has deemed appropriate in connection with this Agreement, that the Executive is fully aware
of its legal effect, and that Executive has entered into it freely based on the Executive’s judgment and not on any representations
or promises other than those contained in this Agreement.

 

23.
Withholding and Payroll Practices. All salary, severance payments, bonuses or benefits payments made by the Company under this
Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law and shall be paid in the
ordinary course pursuant to the Company’s then existing payroll practices.

 

[The
next page is the signature page.]

 

    	13

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

	 	SHUTTLE
    PHARMACEUTICALS HOLDINGS, INC. 
	 	 	                                  
	 	By:	/s/
    Anatoly Dritschilo
	 	Name:	Anatoly
                                            Dritschilo

	 	Title:	Chief
    Executive Officer

 

	 	EXECUTIVE:

    

	 	 
	 	/s/
    Michael Vander Hoek
	 	Michael
    Vander Hoek

 

    	14

    	 

    

 

Schedule
A

 

	1.	Employment
    Period: 36 months
	 	 
	2.	Employment

 

	 	a.	Title:
    Chief Financial Officer and Vice President, Operations & Regulatory

 

	b.	Executive
  Duties:
	 	 

	 	In his
  capacity as Chief Financial Officer, Vice President of Operations and Regulatory, the Executive shall perform such services, consistent
  with his office, including, but not limited to business planning, budgeting, managing and implementing all of the financial activities
  of the Company, and such other duties as shall be assigned to him by the Board of Directors of the Company from time to time, devoting
  such time and effort and performing all of the functions of the offices held by him, as directed by the Board of Directors from time-to-time.

 

	 	3.	Base
    Salary: $227,000 per year.
	 	 	Target
    Bonus: milestone based $ 72,000

 

	5(a).	Initial
    Restricted Stock Unit Grant: $138,000 worth of Restricted Stock Units issuable under the Company’s 2018 Equity Incentive Plan,
    vesting annually in one-third increments commencing on the first anniversary date of the grant of Restricted Stock Units, in accordance
    with the terms of the Restricted Stock Unit Award Agreement.
	 	 
	6(e).	Severance
    Period: Twelve months
	 	 
	15(b).	Executive
    Contact Information:

 

20800
Delta Drive

Gaithersburg,
MD 20882

(Cell:
301-801-5122)

 

    	15

    	 

    

 

Schedule
B

 

Milestones
Related to Role of VP Operations and Regulatory

 

	Key
    Performance Indicators	 	Level
    to be Achieved by the Company	 	 	Year	 
	Complete
    regulatory applications 
(a) Ropidoxuridine 
(b) Doranidazole	 	 	50%		 	 	2020	 
	Prepare
    Clinical Trials with CRO 
(a) Ropidoxuridine +RT for GBM (Theradex) 
(b) Ropidoxuridine + RT for sarcoma (Theradex) 
(c)
    Ropidoxuridine +RT for pancreas (Theradex)	 	 	25%		 	 	 	 
	IND-enabling
    Ropidoxuridine & O18-IPdR 
(a) Ropidoxuridine (per GAP analysis) 
(b) Ropidoxuridine/TPI 
(c) Doranidazole (per GAP
    analysis) 
(d) Heavy Ropidoxuridine (O18-IPdR)	 	 	25%		 	 	 	 

 

Milestones
Related to Role of Chief Financial Officer

 

	Key
    Performance Indicators	 	Level
    to be Achieved by the Company	 	 	Year	 
	Complete
    the filing of the Registration Statement on form S-1 resulting in its effectiveness and Raising Capital	 	 		 	 	 	2020	 
	(a)
    Raise Bridge Capital 
(b) Perform and Complete Road Show 
(c) Bring accounting functions in-house 
(e) Perform SEC regulatory
    filings	 	 	25%
 25%
 25%
 25%
	 	 	 		 

 

Exhibit
A

 

Form
of Restricted Stock Award Agreement

 

    	16

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