Novan, Inc. (NASDAQ:NOVN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02.

On June 28, 2017, Novan, Inc. (the Company) and William L.
Hodges, Interim Chief Financial Officer of the Company, entered
into an amendment (the Letter Agreement) to the offer letter (the
Offer Letter) dated March 21, 2017. The Letter Agreement provides
that Mr. Hodges will continue to serve as the Companys Interim
Chief Financial Officer and principal financial and accounting
officer through August 15, 2017 (the Extension Period). to the
Letter Agreement, Mr. Hodges will continue to receive the same
monthly base salary during the Extension Period as established in
the Offer Letter and received a stock option award on June 28,
2017 to purchase 8,000 shares of the Companys common stock,
vesting at the end of the Extension Period.

The foregoing description of the Letter Agreement does not
purport to be complete and is qualified in its entirety by
reference to the full text of the Letter Agreement, a copy of
which is filed as Exhibit 10.1 to this Current Report on Form 8-K
and is incorporated herein by reference.

The Offer Letter was filed as Exhibit 10.1 to the Companys
Current Report on Form 8-K dated March 22, 2017.

See the Exhibit Index which follows the page of this Current
Report on Form 8-K, which is incorporated herein by reference.

Novan, Inc. Exhibit
EX-10.1 2 novn-ex101_6.htm EX-10.1 novn-ex101_6.htm Exhibit 10.1 June 28,…
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About Novan, Inc. (NASDAQ:NOVN)

Novan, Inc. is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs). The Company’s formulation science enables it to further tune the release of nitric oxide when applied to the skin by using the combinations of inactive ingredients. It is developing SB204 for the treatment of acne vulgaris in Phase III. The Company is developing its product candidate, SB206, for the treatment of external genital and perianal warts in Phase II. It is developing SB208, an investigational topical anti-fungal for the treatment of fungal infections of the skin and nails. It is developing SB204 for the treatment of inflammatory skin diseases. Its pipeline also includes SB414, a topical cream product candidate.