UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 25, 2021, Kintara Therapeutics, Inc. (the “Company”) and John Liatos, the Company’s Senior Vice President, Business Development, mutually agreed that Mr. Liatos would step down from his role as Senior Vice President, Business Development effective immediately to pursue other opportunities.
In connection with the termination of Mr. Liatos’s services, on October 29, 2021, the Company and Mr. Liatos entered into a separation and general release agreement (the “Separation Agreement”). In substantial part, the terms of the severance payable under the Separation Agreement will be governed by the terms of Mr. Liatos’s Amended and Restated Employment Agreement, dated March 1, 2018 (the “Employment Agreement”).
As contemplated by the Employment Agreement, the Separation Agreement will provide, among other things, for Mr. Liatos to receive the following:
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continued payments of eight months of his annual base salary, equal to the sum of $226,667, commencing on the first regular payroll date that is at least 60 days after the Termination Date and paid in installments in accordance with the Company’s regular payroll practices; |
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reimbursement of healthcare continuation payments under the Consolidated Omnibus Budget Reconciliation Act (COBRA) for a period of up to eight months following the Termination Date; and |
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an additional six months of service vesting credit for each of his stock options outstanding as of the Termination Date, and all of his vested options, including any options so accelerated, remaining exercisable for up to a twelve-month period measured from the Termination Date (or earlier expiration of the options term). |
In addition, Mr. Liatos will be subject to non-compete and non-solicitation provisions, which will apply for a period of twelve months following the Termination Date.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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KINTARA THERAPEUTICS, INC. |
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Date: October 29, 2021 |
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By: |
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/s/ Scott Praill |
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Name: Scott Praill |
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Title: Chief Financial Officer |