On July 1, 2021, Kiromic BioPharma, Inc. entered into an Executive Agreement (the Ryan Agreement) with Dr. Michael Ryan to be its Chief Technology Officer (CTO). The term of the Ryan Agreement commenced on July 1, 2021 and will continue until the earlier of (i) July 1, 2024 or (ii) termination by either the Company or Dr. Ryan. Pursuant to the Ryan Agreement, Dr. Ryan’s base compensation will be $200,000 per year.