RespireRx Pharmaceuticals Inc. Announces Extension to Long-Term Employment Contract with Tim Jones as President and Chief Executive Officer - Seite 2

Mr. Jones stated that “this transition into the long-term portion of my employment contract with RespireRx is an expression of my belief in the value of the assets, the synergies of working with the other members of the management team and my confidence that I will continue to be a contributing senior member of that team that intends to add to and then realize the value of the Company for the benefit of all stakeholders.”

Dr. Lippa, Executive Chairman and Chief Scientific Officer said, “I am thrilled that both Tim and the Board are in complete agreement about the transition from the provisional period to the long-term phase of Tim’s employment contract and, speaking for the Board and the rest of the management team, we are excited to continue working in partnership with him going forward.”

Mr. Jones is a highly experienced senior executive with a proven and outstanding track record in global commercial business development, specializing in developing and sustaining high value strategic and tactical partnerships. He is recognized for his expertise in the strategic development and growth of active pharmaceutical ingredient categories through partnerships with a broad cross section of brand and generic pharmaceutical and biopharmaceutical companies worldwide. His extensive knowledge base and expertise across multiple pharmaceutical disciplines have contributed to his successful track record of financial growth. For the past three years, as Vice President of Global Pharmaceutical and Medical OTC at Purisys LLC, an affiliate of Noramco Inc., and as Vice President Business Development-Global Cannabinoids Portfolio at Noramco Inc., Mr. Jones was instrumental in building a fully operational and highly successful global commercial cannabinoids business. Prior to that, he was Vice President Strategic Portfolio Management at Midas Pharmaceuticals Inc. and also has previously held leadership roles with Par Sterile Products, and Johnson Matthey.

About RespireRx Pharmaceuticals Inc.

RespireRx Pharmaceuticals Inc. is a leader in the development of medicines for respiratory disorders and central nervous system (“CNS”) indications, with a focus on OSA, ADHD, SCI and other neurological conditions. The Company owns and has exclusive rights to patents and patent applications for certain families of chemical compounds that claim the chemical structures, formulations and their uses in the treatment of a variety of disorders, as well as claims for novel uses of known drugs.