On December 5, 2012, the Compensation Committee of the Board of Directors (the "Compensation Committee") of CorMedix Inc. (the "Company") approved the option awards described in this Current Report on Form 8-K for the Company's directors, officers and certain employees, in recognition of contributions made to the Company with respect to regulatory and clinical affairs, manufacturing, IP and sales/distributions strategies and planning.

The Compensation Committee granted options to purchase an aggregate of 25,000 shares of the Company's common stock to a consultant/employee and options to purchase an aggregate of 765,000 shares of the Company's common stock to the Company's directors and executive officers, as set forth below:

Name                        Position                                       Options
 Richard M. Cohen           Executive Chairman,
                            Interim Chief Executive
                            Officer and Interim Chief
                            Financial Officer and
                            Director                                        70,000
Randy Milby                 Chief Operating Officer                        100,000
Gary Gelbfish, M.D.         Director                                        70,000
Matthew P. Duffy            Director                                       125,000
Steven Lefkowitz            Director                                       150,000
Anthony E. Pfaffle, M.D.    Director                                       250,000

Each option grant described above was granted on December 5, 2012 pursuant to, and subject to, the terms of the Company's 2006 Stock Incentive Plan. Such options shall vest in accordance with the following schedule: (a) Fifty-percent (50%) of these options will vest on the date of issuance of the CE Mark approval in Europe for the Company's Neutrolin® product candidate, if the CE Mark approval is obtained on or before March 31, 2013, and (b) fifty-percent (50%) will vest on December 31, 2013. The options have an exercise price of $0.68 per share based on the closing sale price of the Company's common stock, as reported by NYSE-MKT on December 5, 2012.