Exhibit 10.3
To: Natalie Russell, CFO
August 12, 2026
Dear Natalie,
Congratulations!
We are thrilled to let you know that you have been given a salary increase. Below details what is changing from your current role. All the other terms and conditions of your employment remain unchanged.
Current Salary: $250,000
New Salary: $300,000
Effective Date: August 1, 2026
We appreciate all your hard work and dedication to Cyngn. We look forward to seeing all you will continue to accomplish.
Sincerely,
Emily McNamara
Senior Director, Operations & Human Resources
Employee Acknowledgement:
Employee Signature: /s/Natalie Russell Date: 8/12/2026
CC: Lior Tal, CEO
Human Resources