On February 19, 2021 Cyclacel Pharmaceuticals, Inc. (the "Company") and Judy Chiao, MD entered into a retirement agreement (the "Retirement Agreement"), effective on the eighth day following the date of the Retirement Agreement. Pursuant to the Retirement Agreement, Dr. Chiao's employment with the Company shall terminate as of March 5, 2021 (the "Separation Date"). The Retirement Agreement contains the entire agreement of the parties and supersedes all prior agreements between the parties related to Dr. Chiao's employment with the Company.