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 |