Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective October 15, 2021, Martín Sebastian Olivo, M.D. will no longer be employed by the Company as Chief Medical Officer (the "Separation"). Dr. Olivo and the Company have entered into a consulting agreement (the "Consulting Agreement"), effective October 16, 2021, pursuant to which Dr. Olivo will provide consulting and transition services to the Company through November 22, 2021.

In connection with the Separation, Dr. Olivo and the Company have also entered into a Separation Agreement and Release, dated October 15, 2021 (the "Separation Agreement"), to memorialize the terms of his severance arrangements with the Company. Pursuant to the Separation Agreement, in consideration of a general release of all claims against the Company and certain representations, warranties, covenants and agreements, Dr. Olivo is entitled to receive (i) his base salary for a period of nine months paid in a lump sum; (ii) a one-time lump sum pro-rata payment of his bonus at target; (iii) reimbursement of all business expenses for which he is entitled; (iv) reimbursement of COBRA premium costs for nine months; (v) reimbursement of supplemental life insurance premium costs for nine months; and (vi) pro-rata vesting of his outstanding equity award, as he was not employed through the one-year anniversary of the grant date of such outstanding equity award.

The foregoing descriptions of the terms of the Consulting Agreement and the Separation Agreement do not purport to be complete and are qualified in their entirety by the full text of the Consulting Agreement and the Separation Agreement, which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.




Item 8.01. Other Events.

Effective October 15, 2021, the Company promoted Jathin Bandari, M.D. to the position of VP, Head of Clinical Development and Interim Chief Medical Officer. Dr. Bandari joined Protara in April 2020. He is a Urologic Oncologist who specializes in both minimally invasive urologic oncology and advanced open pelvic and retroperitoneal cancer surgery. Dr. Bandari received his medical degree at Johns Hopkins University and completed his urology residency at University of Pittsburgh Medical Center. Following residency, he completed a Society of Urologic Oncology fellowship at the University of Pittsburgh Medical Center. Dr. Bandari maintains an academic appointment at the University of Rochester.

Item 9.01. Financial Statements and Exhibits.





(d) Exhibits



Exhibit
Number                              Exhibit Description

10.1        Consulting Agreement, dated as of October 16, 2021, by and between the
          Company and Martín Sebastian Olivo, M.D.
10.2        Separation Agreement and Release, dated as of October 15, 2021, by and
          between the Company and Martín Sebastian Olivo, M.D.
104       Cover Page Interactive Data File (embedded within the Inline XBRL
          document)




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