Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On July 20, 2022, Patrick F. Kelly, M.D., Senior Vice President and Chief
Medical Officer, and a named executive officer, of Forma Therapeutics Holdings,
Inc. (the "Company") provided notice of his resignation from employment with the
Company, effective August 3, 2022 (the "Separation Date"). In connection with
his resignation, Dr. Kelly and the Company entered into a Transition and General
Release Agreement on July 22, 2022 (the "Transition Agreement") pursuant to
which Dr. Kelly (i) will receive compensation equal to his current base salary
($471,215 in the aggregate) over a period of 12 months following the Separation
Date and (ii) provided a release of claims against the Company. As provided in
the Transition Agreement, Dr. Kelly and the Company also entered into a
consulting agreement (the "Consulting Agreement") on such date in which
Dr. Kelly agrees to provide consulting services to the Company for 3 months
beginning August 4, 2022 for compensation of $12,687 per month, as well as
reasonable travel and other expenses incurred in providing such services. During
the term of the Consulting Agreement, Dr. Kelly's current outstanding unvested
equity grants shall continue to vest.
Also on July 20, 2022, Selwyn Vickers, M.D., notified the Company of his intent
to resign from the Company's Board of Directors (the "Board"), effective
July 31, 2022. Dr. Vickers' decision to resign from the Board was not the result
of any dispute or disagreement with the Company or the Company's Board on any
matter relating to the Company's operations, policies or practices.
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