Aspira Women's Health Inc. appointed Valerie B. Palmieri as its Executive Chairperson, effective as of March 1, 2022. In connection with Ms. Palmieri's transition to Executive Chairperson, on February 24, 2022, the Company and Ms. Palmieri entered into an amended and restated employment agreement (the “Amended and Restated Employment Agreement”) effective March 1, 2022. Pursuant to the Amended and Restated Employment Agreement, the Company will employ Ms. Palmieri for a one-year term concluding on March 1, 2023 (the “Term”), and will pay Ms. Palmieri an annual base salary of $450,000.

The Term may be extended by the Company for an additional year upon 30 days' notice prior to the scheduled end of the Term. In addition, under the Amended and Restated Employment Agreement, Ms. Palmieri will be eligible for a bonus of up to 75% of her base salary payable on or before February 28, 2022, with the amount to be determined by mutual agreement of performance goals by Ms. Palmieri and the Board. Ms. Palmieri is required to provide the Company with at least 60 days' notice of her resignation for any reason, and if Ms. Palmieri's employment is terminated by the Company without cause (as defined in the Amended and Restated Employment Agreement), she is entitled to 60 days' prior written notice of such termination.

No notice is required if Ms. Palmieri's employment concludes upon the expiration of the Term or if the Company terminates her employment for cause.