On March 1, 2024, the Board of Directors (the "Board") of NeuroBo Pharmaceuticals, Inc. (the "Company") appointed Mr. Marshall H. Woodworth, age 66, as the Company's Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, effective as of March 1, 2024.
On March 1, 2024, the Company and Mr. Woodworth entered into an employment agreement (the "Employment Agreement"). The Employment Agreement has an initial term (the "Initial Term") of two (2) years beginning on March 1, 2024 and automatically renews for an additional one year period at the end of the Initial Term and each anniversary thereafter (a "Renewal Term") provided that at least 60 days prior to the expiration of the Initial Term or any Renewal Term the Board does not notify Mr. Woodworth of its intention not to renew.