KINETA, INC./DE appointed new CEO

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


Separation Agreements


Shawn Iadonato, Ph.D.


As part of the reduction in workforce plan described above in Item 2.05, the Company terminated the employment of Shawn Iadonato, Ph.D. as Chief Executive Officer of the Company, effective as of March 1, 2024 (the "Iadonato Separation Date"), without cause. Dr. Iadonato will continue to serve as a member of the Company's Board of Directors.


In connection with Dr. Iadonato's departure, the Company entered into a separation and release agreement with Dr. Iadonato (the "Iadonato Separation Agreement"). Pursuant to the Iadonato Separation Agreement, Dr. Iadonato will receive payment equal to 80 hours of accrued but unused paid time off and two weeks worth of wages, which, in aggregate, is equal to $38,461.54. In exchange for the payments and other consideration under the Iadonato Separation Agreement, Dr. Iadonato provided the Company with a release, in favor of the Company, of any and all claims relating to his employment with the Company. 


In connection with Dr. Iadonato's departure, the Company also entered into a consulting agreement with Dr. Iadonato, effective as of March 1, 2024 (the "Iadonato Consulting Agreement"). Pursuant to the Iadonato Consulting Agreement, Dr. Iadonato will provide advisory services to the Company until December 31, 2024 (such period, the "Iadonato Consulting Period"). As the only consideration for Dr. Iadonato's services under the Iadonato Consulting Agreement, Dr. Iadonato's outstanding unvested equity awards shall continue to vest in accordance with the applicable purchase, award or grant agreement during the Iadonato Consulting Period and Dr. Iadonato shall be paid the amount due pursuant to his Employment Agreement for Termination Without Cause.


The foregoing description of the Iadonato Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Iadonato Separation Agreement, which is filed as Exhibit 10.1 to this Current Report and incorporated herein by reference.


Pauline Kenny


As part of the reduction in workforce plan described above in Item 2.05, the Company terminated the employment of Pauline Kenny as General Counsel and Secretary of the Company, effective as of March 1, 2024 (the "Kenny Separation Date"), without cause.


In connection with Ms. Kenny's departure, the Company entered into a separation and release agreement with Ms. Kenny (the "Kenny Separation Agreement"). Pursuant to the Kenny Separation Agreement, Ms. Kenny will receive payment equal to 80 hours of accrued but unused paid time off and two weeks worth of wages, which, in aggregate, is equal to $25,000.00. In exchange for the payments and other consideration under the Kenny Separation Agreement, Ms. Kenny provided the Company with a release, in favor of the Company, of any and all claims relating to his employment with the Company.


In connection with Ms. Kenny's departure, the Company also entered into a consulting agreement with Ms. Kenny, effective as of March 1, 2024 (the "Kenny Consulting Agreement"). Pursuant to the Kenny Consulting Agreement, Ms. Kenny will provide legal advisory services to the Company until December 31, 2024 (such period, the "Kenny Consulting Period"). As the only consideration for Ms. Kenny's services under the Kenny Consulting Agreement, Ms. Kenny's outstanding unvested equity awards shall continue to vest in accordance with the applicable purchase, award or grant agreement during the Kenny Consulting Period and Ms. Kenny shall be paid the amount due pursuant to her Employment Agreement for Termination Without Cause.


The foregoing description of the Kenny Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Kenny Separation Agreement, which is filed as Exhibit 10.2 to this Current Report and incorporated herein by reference.