Amendments to Independent Contractor Agreements at Virpax Pharmaceuticals Clarify Roles and Responsibilities

On December 30, 2024, Virpax Pharmaceuticals, Inc. disclosed in a Form 8-K filing that it had entered into amendments to the Independent Contractor Agreements with its Chief Executive Officer, Jatinder Dhaliwal, and Chief Financial Officer, Usama Chaudhry. These amendments were aimed at clarifying certain provisions and aligning the agreements with their intended structure.

In the revised agreement with Mr. Dhaliwal, the Independent Contractor Agreement has been amended to confirm that the term “Contractor” pertains to Jat Consulting Corp., a company incorporated in British Columbia, Canada, through which Mr. Dhaliwal provides services as the Chief Executive Officer of Virpax Pharmaceuticals. All payments under the agreement will now be directed to Jat Consulting Corp., which will handle compensating its personnel, including Mr. Dhaliwal. The amendment also addresses tax responsibilities, indemnification provisions, and other terms to ensure compliance with relevant laws and regulations.

Similarly, in the updated agreement with Mr. Chaudhry, the Independent Contractor Agreement has been amended to clarify that the term “Contractor” refers to Chaudhry U Consulting Inc., a Canadian corporation through which Mr. Chaudhry offers services as the Chief Financial Officer of the company. Similar to the agreement with Mr. Dhaliwal, all payments under this modified agreement will be directed to Chaudhry U Consulting Inc., which will manage compensating its staff, including Mr. Chaudhry. The amendment also covers tax responsibilities, indemnification provisions, and other terms to ensure compliance with applicable laws and regulations.

Copies of the amended Independent Contractor Agreements with Mr. Dhaliwal and Mr. Chaudhry have been filed as Exhibits 10.1 and 10.2, respectively, to the Current Report on Form 8-K.

This disclosure comes under Item 5.02 of the report, addressing the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; and Compensatory Arrangements of Certain Officers. Additionally, Item 9.01 of the filing includes information on the financial statements and exhibits, specifically Exhibits 10.1, 10.2, and 104, which is a Cover Page Interactive Data File embedded within the Inline XBRL document.

The report also confirmed that Virpax Pharmaceuticals, Inc. is considered an emerging growth company as per the definitions outlined in the Securities Act of 1933 and the Securities Exchange Act of 1934.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Virpax Pharmaceuticals’s 8K filing here.

About Virpax Pharmaceuticals

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Virpax Pharmaceuticals, Inc, a preclinical-stage pharmaceutical company, develops various drug-delivery systems and drug-releasing technologies focused on advancing non-opioid and non-addictive pain management treatments and treatments for central nervous system disorders. Its preclinical stage product candidates include Epoladerm, a topical spray film delivery technology for osteoarthritis pain; Probudur, an injectable local anesthetic liposomal gel technology for postoperative pain management; and Envelta, a nanotechnology-based intranasal spray drug product candidate that enables the delivery of a metabolically labile peptide drug into the brain.

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