Document:

Exhibit 10.9

 

EMPLOYMENT AGREEMENT

 

This contract of employment is made this 30th
day of July, 2014 between Shuttle Pharmaceuticals, LLC (hereinafter “Company”), and Theodore L. Phillips, M.D. (hereinafter
“Employee”).

 

The terms of employment as set out herein will
be deemed to constitute a contract of employment (hereinafter “Agreement”). Employee will be required to sign at the
space provided at the end of these conditions, agreeing to adhere to the Company’s conditions of employment.

 

1.
Employment & Duties, Duration, Termination

 

1.1 Employment
& Duties. The Employee agrees that he will at all times faithfully, industriously, and to the best of his skill, ability,
experience and talents, perform all of the duties required of his position as “Director, Clinical Development” for
the Company at 51% effort employment, which duties include, but are not limited to: (a) Perform clinical drug development of novel
chemical entities for the Company’s drug discovery/development program; (b) Serve as Principal Investigator of the Fast-Track
SBIR grant and service as principal investigator, as needed, on other SBIR grant application submissions. In carrying out these
duties and responsibilities, the Employee shall comply with all Company policies, procedures, rules and regulations, both written
and oral, as are announced by the Employer from time to time. It is also understood and agreed to by the Employee that his assignment,
duties and responsibilities and reporting arrangements may be changed by the Company in its sole discretion.

 

 1.2 Date of Employment
Commencement. September 15, 2014.

 

1.3 Employment
Duration. The employment term/duration shall be “at will” of either party. Nothing in Employer’s policies,
actions, or this document shall be construed to alter the “at will” nature of Employee’s status with Employer.

 

1.4 Annual
Performance Review. The Employee will be provided a written performance appraisal at least once a year.

 

1.5 Termination.
Employee understands that Employer may terminate his/her employment at any time for any reason or for no reason, provided it is
not terminated in violation of state or federal law.

 

2.
Compensation and Benefits

 

2.1 Salary. As compensation for
all services to be rendered pursuant to this Agreement, Company agrees to pay Employee a base salary at the rate of one
hundred eighty thousand dollars ($181,500.00) per annum which will be pro-rated to 51% effort, based on percent effort on NIH
SBIR contracts. The salary set forth herein shall be payable in accordance with the regular payroll practices of the
Company.

 

 2.2 Bonus. Employee shall be
eligible to participate in the company sponsored stock options program.

 

2.2 Health Benefits. The Company
shall not provide the Employee with health plan benefits.

 

2.3 Leave. In addition to approved
public holidays, the Employee shall be entitled to paid leave in the amount of two weeks per calendar year.

 

3.
Conflicts With Other Activities

 

During employment with Company, Employee agrees
that he will not, without prior written notice to Company, engage in any employment or business performing similar drug discovery
or development work.

 

    1 

     

    

  

4.
Protection of Confidential Information and Ownership of Inventions

 

4.1 Confidential Information
Defined. The Company is engaged in the business of developing novel pharmaceuticals for therapeutic development and for diagnostics
for use in treating human disease. Employee acknowledges and agrees that the Company’s special competence in the industry
is critical to its growth. The Company’s competitive advantage and growth further depend on its exclusive possession of
certain proprietary information concerning the Company’s operations, processes, research, discoveries, methods and accumulated
experience incidental to the Company’s services and products, including, without limitation, those matters not generally
known to the public or to the industry in which the Company is or may be engaged and which pertain to research and development,
advertising, promotions, market research, concepts, ideas, and trade secrets (collectively “Confidential Information”).
Employee desires to be employed by the Company and the Company desires to employ Employee subject, however, to the terms and conditions
set forth in this Agreement.

 

4.2 Inventions Defined. For
purposes of this Agreement, the term “Inventions” means discoveries, data, concepts and ideas, whether or not
patentable, and without limitation: processes, methods, formulas and techniques as well as improvements and know-how related
thereto, arising out of or related to any present or prospective activities of the Company in which Employee is engaged or
aware as a result or consequence of Employee’s employment by the Company.

 

4.3 Covenants, Agreements,
Representations and Warranties by Employee. In consideration of the fact that Employee’s work as an employee of Company
will bring Employee into close contact with many confidential affairs of the Company and its affiliates, including matters of
a business nature, such as information about costs, profits, markets, sales, and any other information not readily available to
the public, and plans for future commercial and technological developments, Employee, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, covenants, agrees, represents and warrants that:

 

		a.	All of the Confidential Information is a valuable asset of the Company and, at all times, will be made and remain the Company’s
sole and exclusive property.

 

		b.	Employee shall, at all times, hold the Confidential Information as secret.

 

		c.	Employee shall neither directly nor indirectly exploit or permit the exploitation, copying or summarizing of any of the Confidential
Information, except in the performance of Employee’s duties for the Company or as the Company otherwise directs.

 

		d.	During the term of Employee’s employment by the Company and after termination of that employment with or without cause,
Employee shall not, directly or indirectly, individually or in combination or association with any other person or entity, divulge
or disclose to any third party any of the Confidential Information without, in each instance, the prior written consent of the
Company.

 

		e.	During the term of Employee’s employment by the Company and for the period of one year following termination of that
employment with or without cause, Employee shall promptly disclose in writing to the Company all inventions conceived or made by
Employee, either solely or in concert with others.

 

		f.	Employee hereby assigns to the Company all of Employee’s right, title, and interest to all such inventions and to applications
for United States and/or foreign letters patents granted on such inventions.

 

		g.	All inventions made or conceived by Employee shall be the Company’s sole and exclusive property.

 

		h.	Company shall own, and Employee hereby transfers and assigns to it, all rights of every kind and character, in perpetuity,
in and to any material and/or ideas written, suggested, or submitted by Employee hereunder which relate to the intellectual property
owned by the Company and all other results and proceeds of Employee’s services hereunder, whether the same consists of scientific,
technical, clinical, engineering or any other form of works, themes, ideas, creations, products, or compositions (collectively,
“Employee Inventions”). Employee agrees to execute and deliver to Company such assignments or other instruments as
Company may require from time to time to evidence its ownership of the Employee Inventions, including, but not limited to, obtaining
and defending letters patents in any and all countries and to vest title in such inventions in the Company or its assigns.

 

    2 

     

    

  

		i.	Third Party Information. Employee understands, in addition, that the Company has received and in the future will receive
from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s
part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the term of my
employment and thereafter, I will hold Third Party Information in the strictest confidence and will not disclose to anyone (other
than Company personnel who need to know such information in connection with their work for the Company) or use, except in connection
with my work for the Company, Third Party Information unless expressly authorized by an officer of the Company in writing.

 

		j.	Upon termination of Employee’s employment with the Company with or without cause, Employee shall immediately deliver
to the Company all notebooks, reports, formulae, notes, manuals and other documents, whether in hard copy or electronic, reflecting
the Confidential Information and all other materials furnished to or acquired by Employee as a result of or during Employee’s
employment by the Company.

 

		k.	In the event that any of the restrictions and limitations of this Paragraph 4.3 shall be deemed to exceed the time or activity
limitations permitted by applicable law, then such provisions shall be reformed to the maximum extent permitted by applicable law.

 

		l.	Employee’s representations and warranties herein shall be revived continuously during the period of Employee’s
employment by the Company.

 

5.
Non-Compete

 

5.1 In consideration of the salary and
the bonus indicated in Paragraph 2.1 and 2.2, infra, the Employee further acknowledges and agrees that following
termination of employment with Company for any reason, the Employee shall not work as a competitor, or for a competitor, of
the Company for a period not to exceed one (1) year.

 

5.2 The Employee further acknowledges and
agrees that following termination of employment with Company for any reason, the Employee shall not hire or attempt to hire
any current employees of Company.

 

6.
Laws

 

This Agreement shall be construed and enforced
pursuant to the laws of the state of Maryland.

 

7.
Independent Legal Advice

 

The
Employee acknowledges that the Company has provided the Employee with a reasonable opportunity to obtain independent legal advice
with respect to this agreement, and that either:

 

		(a)	The
                                         Employee has had such independent legal advice prior to executing this agreement, or;

 

		(b)	The
                                         Employee has willingly chosen not to obtain such advice and to execute this agreement
                                         without having obtained such advice.

 

    3 

     

    

  

8.
Miscellaneous Provisions

 

8.1 Severability.
If any provision or clause of this Agreement is held to be invalid by a court of competent jurisdiction, then such provision or
clause shall be severed and shall not affect the validity and enforceability of any other provision of this Agreement.

 

8.2 Modification.
This Agreement may not be amended or modified except in a writing signed by each of the parties hereto.

 

8.3 Breach.
If Employee defaults in or breaches any of the covenants, agreements, representations or warranties described in this Agreement,
Employee shall be liable to and pay the Company its court costs and reasonable attorneys’ fees incurred in enforcing such
covenants, agreements, representations and warranties.

 

8.4 Injunctive
Relief. It is acknowledged that the rights of Company under this Agreement are of a special, unique, and intellectual character
which gives them a peculiar value, and that a breach of any provision of this Agreement, will cause Company irreparable injury
and damage which cannot be reasonably or adequately compensated in damages in an action at law. Accordingly, without limiting any
right or remedy, Employee specifically agrees that Company shall be entitled to seek injunctive relief to enforce and protect its
rights under this Agreement.

 

8.5 Notices.
All notices, requests, consents and other communications required or permitted to be given hereunder shall be in writing and shall
be deemed to have been duly given if delivered personally, mailed first-class, postage prepaid, or via electronic mail as
follows: If to Employee: 5910 River Glen Court, Carmichael, CA 95608; If to Company: 1 Research Court, Suite 450, Rockville, MD
20850.

 

8.6 This
Agreement sets forth the entire understanding of the parties hereto and supersedes all prior agreements, whether oral or written,
regarding the subject matter hereof.

 

    4 

     

    

 

IN WITNESS WHEREOF, the Company has caused
this agreement to be executed by its duly authorized officer and the Employee has set his hand as of the date first above written.

 

SIGNED: 

 

	/s/ Theodore Phillips	 	July 29, 2014	 
	Theodore L. Phillips, M.D.	 	Date	 
	 	 	 	 
	SIGNED ON BEHALF OF COMPANY:
	 	 	 	 
	/s/ Anatoly Dritschilo	 	July 30, 2014	 
	Anatoly Dritschilo	 	Date	 
	Chief Executive Officer	 	 	 
	Shuttle Pharmaceuticals, LLC	 	 	 

 

 

    5Exhibit 10.10

 

Shuttle Pharmaceuticals Holdings Inc.

One Research Court, Suite 450

Rockville, MD 20850

 

____ ___, 2019

 

[Director’s Name]

[Address]

[Address]

 

Re: Director Offer Letter

 

Dear [insert director’s name}:

 

Shuttle Pharmaceuticals
Holdings, Inc. (the “Company”) is pleased to offer you a position as a member of its board of directors (the
“Board”), effective as of [        ], 2019 (the “Effective Date”). We believe that your background
and experience will be a significant asset to the Company, and we look forward to your participation on the Board. Should you choose
to accept this position as a member of the Board, this letter agreement (this “Agreement”) shall constitute
an agreement between you and the Company and contains all the terms and conditions relating to the services that you agree to provide
the Company.

 

1. Term.
This Agreement is effective as of Effective Date. Pursuant to the adoption of a classified structure of the Board, your initial
term as director shall be for a term of three years and shall start on the Effective Date and continue until the annual meeting
of stockholders of the Board to be held in 202_, subject to the provisions in Section 9 below or until your successor is duly elected
and qualified. The position shall be up for re-election each third year at the Company’s annual stockholder’s meeting
and upon re-election, the terms and provisions of this Agreement shall remain in full force and effect.

 

2. Services.
You shall render services as a member of the Board and as a member of one or more committees of the Board (hereinafter your “Duties”).
During the term of this Agreement, you shall attend and participate in such number of meetings of the Board and any committees
on which you serve as a member as regularly or specially called. You may attend and participate at each such meeting, via teleconference,
video conference or in person. You shall consult with the other members of the Board as necessary via telephone, electronic mail
or other forms of correspondence.

 

3. Services for
Others. You shall be free to represent or perform services for other persons during the term of this Agreement. However,
you agree that you do not presently perform and do not intend to perform, during the term of this Agreement, similar Duties, consulting
or other services for companies whose businesses are or would be, in any way, competitive with the Company (except for companies
previously disclosed by you to the Company in writing). Should you propose to perform similar Duties, consulting or other services
for any such company, you agree to notify the Company in writing in advance (specifying the name of the organization for whom you
propose to perform such services) and to provide information to the Company sufficient to allow it to determine if the performance
of such services would conflict with areas of interest to the Company.

 

    	1

     

    

 

4. Compensation.
Assuming your material compliance with the terms of this Agreement, compensation for your services to the Company shall be as described
in this section.

 

a. You will receive
$25,000 cash fee per annum, payable in equal quarterly installments, subject to your continuing service as a member of the Board,
with the first payment commencing 90 days following the completion of an initial public offering of the Company’s securities
pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”),
or otherwise, when the Company becomes a publicly reporting company under the Exchange Act of 1934, as amended.

 

b. You will be granted
$75,000 worth of restricted stock units (“Restricted Stock Units”) issuable under the Company’s 2018 Equity
Incentive Plan, with the following vesing schedule: 1/3 of the Restricted Stock Units will vest upon the Effective Date and the
remaining Restricted Stock Units will vest annually in one-third increments commencing on the first anniversary date of the date
of your appointment to the Board, in accordance with the terms of a separate Restricted Stock Unit Award Agreement between you
and the Company. Any unvested Restricted Stock Units will expire upon termination of your service.

 

c. You shall be reimbursed
for reasonable expenses incurred by you in connection with the performance of your Duties (including travel expenses for in-person
meetings).

 

5. D&O Insurance
Policy. Prior to the Effective Date of this Agreement, the Company will maintain directors and officers lialibity insurance
in a commercially reasonable amount.

 

6. No Assignment.
Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior
written consent of the Company.

 

7. Confidential
Information; Non-Disclosure. In consideration for your access to certain Confidential Information (as defined below) of
the Company, in connection with your business relationship with the Company, you hereby represent and agree as follows:

 

a. Definition.
For purposes of this Agreement the term “Confidential Information” means:

 

i. Any information
which the Company possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial
value or utility in the business in which the Company is engaged; or

 

ii. Any information
which is related to the business of the Company and is generally not known by non-Company personnel.

 

iii. Confidential
Information includes, without limitation, trade secrets and any information concerning products, processes, formulas, designs,
inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced to practice),
discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications, data,
know-how, software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier
identities, characteristics and agreements.

 

    	2

     

    

 

b. Exclusions.
Notwithstanding the foregoing, the term Confidential Information shall not include:

 

i. Any information
which is, or otherwise becomes, generally available to the public other than as a result of a breach of the confidentiality portions
of this Agreement, or any other agreement requiring confidentiality between the Company and you;

 

ii. Information
received from a third party in rightful possession of such information who is not restricted from disclosing such information;
and

 

iii. Information
known by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

c. Documents.
You agree that, without the express written consent of the Company, you will not remove from the Company's premises any notes,
formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential
Information, nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with
any reproductions or copies to the Company upon the Company's demand, upon termination of this Agreement, or upon your termination
or Resignation, as defined in Section 9 herein.

 

d. Confidentiality.
You agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or
indirectly, any Confidential Information or anything relating to such information without the prior written consent of the Company,
except as may be necessary in the course of your business relationship with the Company. You further agree that you will not use
any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of your
business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination of this Agreement.

 

e. Ownership.
You agree that the Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask
work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating
to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas
and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that
arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions
to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and
to perfect, obtain, maintain, enforce, and defend any rights assigned.

 

8. Non-Solicitation.
During the term of your appointment, you shall not directly solicit for employment any employee of the Company with whom you have
had contact due to your appointment.

 

9. Termination
and Resignation. Your membership on the Board may be terminated for any or no reason by a vote of the stockholders holding
at least a majority of the shares of the Company’s issued and outstanding shares entitled to vote. Your membership on the
Board may be terminated for any or no reason at any meeting of the Board or by written consent of, a majority of the Board at any
time, or if you have been declared incompetent by an order of a court of competent jurisdiction or convicted of a felony. You may
also terminate your membership on the Board for any or no reason by delivering your written notice of resignation to the Company
(“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time is specified,
upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation, your right
to compensation hereunder will terminate subject to the Company's obligations to pay you any compensation (including the vested
portion of the Options) that you have already earned and to reimburse you for approved expenses already incurred in connection
with your performance of your Duties as of the effective date of such termination or Resignation. Any Options that have not vested
as of the effective date of such termination or Resignation shall be forfeited and cancelled.

 

    	3

     

    

 

10. Governing
Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations
of the parties hereunder, shall be determined in accordance with the law of the State of Delaware applicable to agreements made
and to be performed entirely in the State of Delaware.

 

11. Entire Agreement;
Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject matter hereof
and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term of this
Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent of the parties
hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent breach
or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure of any party at
any time to require performance by any other party of any provision of this Agreement shall not affect the right of any such party
to require future performance of such provision or any other provision of this Agreement. This Agreement may be executed in separate
counterparts each of which will be an original and all of which taken together will constitute one and the same agreement, and
may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable,
as an original of such signature.

 

12. Indemnification.
The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses,
including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”),
incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such
Losses incurred as a result of your negligence or willful misconduct. The Company shall advance to you any expenses, including
reasonable attorneys’ fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted
by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance
of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate
documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c)
an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately
be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified by the Company.

 

13. Not an Employment
Agreement. This Agreement is not an employment agreement, and shall not be construed or interpreted to create any right
for you to continue employment with the Company.

 

14. Acknowledgement.
You accept this Agreement subject to the terms and provisions of this Agreement. You agree to accept as binding, conclusive and
final all decisions or interpretations of the Board of Directors of the Company regarding any questions arising under this Agreement.

 

[Remainder of Page Intentionally Left Blank;
Signature page follows]

 

    	4

     

    

 

This Agreement has been
executed and delivered by the undersigned and is made effective as of the date set first set forth above.

 

	 	Sincerely,
	 	 
	 	SHUTTLE PHARMACEUTICALS HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	 	Name: Anatoly Dritschilo
	 	 	Title:   Chief Executive Officer

 

	AGREED AND ACCEPTED:	 
	 	 
	 	 
	Name: 	 

 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]