Fresh Tracks Therapeutics, Inc. appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed in the Current Report on Form 8-K filed by Fresh Tracks Therapeutics, Inc. (the "Company") with the Securities and Exchange Commission on January 27, 2023, Robert B. Brown, the former Chief Executive Officer of the Company, notified the Company on January 23, 2023 of his decision to retire and resign, effective as of January 31, 2023, and as further disclosed, Mr. Brown will continue his service on the Company's Board of Directors and entered into a consulting agreement with the Company. In connection with Mr. Brown's resignation as Chief Executive Officer, on February 1, 2023, the Company and Mr. Brown entered into a Transition and Release Agreement (the "Transition Agreement"). Pursuant to the Transition Agreement, Mr. Brown received a 2022 performance bonus of $184,343 and will receive at the next regularly scheduled Company payroll date (i) a lump sum of $21,334 to reimburse certain future medical, vision, and dental insurance expenses for Mr. Brown and his spouse as part of his transition, (ii) $3,000 to mitigate the cost of terminating Mr. Brown's apartment lease in Boulder, Colorado, and (iii) a lump sum of $94,843 as payment for previously accrued but unused paid time off as a Company employee. The Transition Agreement also provides that Mr. Brown will not receive any severance benefits pursuant to his existing employment agreement, which terminated at the same time as his employment termination and includes a release of claims in favor of the Company and customary confidentiality and non-disparagement provisions. The foregoing summary of the Transition Agreement is qualified in its entirety by reference to the full text of the Transition Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.