Coretec Group Inc (CRTG)

[iamthe walrus]

Options agreements announced today as well as salary for Mr. Hoffman new COO

In connection with Mr. Hoffman’s appointment as COO, the Company entered into an employment agreement (“Employment Agreement”) with Mr.
Hoffman. Pursuant to the Employment Agreement, Mr. Hoffman will receive an annual base salary of $200,000. Mr. Hoffman will also be eligible for an
annual incentive bonus, with a target payout of twenty percent (20%) of his then-current base salary, beginning with the Company’s 2023 fiscal year, upon
meeting objectives set by the board of directors. The Employment Agreement further provides that upon execution of the Employment Agreement, the
Company will grant to Mr. Hoffman options to purchase 5,000,000 fully vested shares of the Company’s common stock.
The foregoing description of the Employment Agreement is qualified by reference to the full text of the Employment Agreement, which is attached
hereto as Exhibit 10.1 and incorporated herein by reference.
Incentive Compensation Grants
In addition to the option granted to Mr. Hoffman, on October 14, 2022, the Company granted five-year Options to members of the Company’s
management, employees and consultants, as incentive compensation. The Company granted the following Options: (i) 7,000,000 Options to Matthew Kappers,
(ii) 3,000,000 Options to Victor F. Keen, (iii) 3,000,000 Options to Simon Calton, and (iv) an aggregate of 6,000,000 Options to employees and consultants of
the Company.