As a result of the Aceto Corporation's disposition of its operating assets in April, 2019, the Company no longer requires the services of William C. Kennally, III, the Company's President and Chief Executive Officer. Accordingly, Mr. Kennally's employment with the Company was terminated on May 31, 2019, effective immediately. Mr. Kennally will continue to serve as a director on the Company's board of directors.

Mr. Kennally's termination constitutes a termination without cause and was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.