Salarius Pharmaceuticals (SLRX) Enters Separation Agreement with CEO

On February 20, 2024, Salarius Pharmaceuticals, Inc. (NASDAQ: SLRX) entered into a separation and release agreement with David J. Arthur, the Company’s President and Chief Executive Officer, which provides for Mr. Arthur’s separation of employment, effective as of the Separation Date. Under the Separation Agreement, and subject to Mr. Arthur agreeing to a release of claims and complying with certain other continuing obligations contained therein, the Company will pay Mr. Arthur a lump-sum payment equal to the amounts owed to him pursuant to Section 5(c)(ii) of that certain Amended and Restated Employment Agreement, dated February 5, 2019, by and between the Company and Mr. Arthur, which was filed as Exhibit 10.5 to the Company’s Registration Statement on Form S-4, filed with the U.S. Securities and Exchange Commission on February 14, 2019, as amended by that certain Amendment, dated September 10, 2019, filed as Exhibit 10.5 to the Company’s Current Report on Form 8-K filed with the Commission on September 16, 2019. Under the terms of the Separation Agreement, Mr. Arthur has elected to receive such amounts in a lump sum.

Mr. Arthur will remain the Company’s principal executive officer and provide services to the Company in such capacity pursuant to a Consulting Agreement, dated February 20, 2024, by and between the Company and Mr. Arthur (the “Consulting Agreement”). Pursuant to the Consulting Agreement, Mr. Arthur is required to devote at least one-fourth (1/4) of his time on a weekly basis (on average 10 or more hours/week) to performing the services set forth in the Consulting Agreement. In exchange for Mr. Arthur’s services as set forth in the Consulting Agreement, Mr. Arthur will receive $10,417 per month. The term of the Consulting Agreement expires on February 20, 2025, unless earlier terminated by either party in accordance with the terms of the Consulting Agreement.

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