On January 13, 2023, the board of directors (the “Board”) of Qualigen Therapeutics, Inc. (the “Company”), as part of certain cost-cutting measures, approved a temporary 20% reduction to the base salaries of all executive officers of the Company, including Michael Poirier, the Company's Chief Executive Officer, Christopher Lotz, the Company's Chief Financial Officer, Amy Broidrick, the Company's President and Chief Strategy Officer (also a named executive officer), Shishir Sinha, the Company's Chief Operating Officer and Senior Vice President, Diagnostics,and Tariq Arshad, the Company's Chief Medical Officer (also a named executive officer), effective immediately. As part of such cost cutting measures, on January 17, 2023, the Company provided notice to Mr. Sinha that his employment with the Company would be terminated effective February 16, 2023 (the “Effective Date”). Ms. Broidrick's title will become President, Chief Strategy and Operating Officer, effective as of the Effective Date.