Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 36

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 36
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 Recommendation Change (as defined in the section of this proxy statement captioned “The Divestiture Agreement—The Aadi Board of Directors Recommendation; Board Recommendation 
 Change”); and                                                                                                                                                                                                                       |

| • |     | by Aadi if: |

| • |     | subject to a 20-day cure period, Kaken has breached or failed to perform                                                                                                                                                                                 
 in any material respect any of its representations, warranties, covenants or other agreements contained in the Divestiture Agreement such that the related closing condition would not be satisfied, unless Aadi is in breach in any material respect of 
 any of its representations, warranties, covenants or other agreements contained in the Divestiture Agreement; or                                                                                                                                         |

| • |     | prior to the approval of the Divestiture Agreement and the Divestiture by Aadi stockholders, if (1) Aadi has 
 received a superior proposal; (2) Aadi’s board of directors has authorized Aadi to                           |

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| enter into an Alternative Acquisition Agreement to consummate the acquisition transaction contemplated by such superior proposal; (3) Aadi has complied in all material respects with its                               
 covenants under the Divestiture Agreement with respect to such superior proposal; and (4) Aadi pays, or causes to be paid, to Kaken the termination fee of $3.5 million prior to or concurrently with such termination. |

Termination Fees Payable by Aadi(see page [●]) The Divestiture Agreement contains certain termination rights for Aadi and Kaken. Upon valid termination of the Divestiture Agreement under specified circumstances, Aadi has agreed to pay Kaken a one-time termination fee of $3.5 million. Specifically, this termination fee will be payable by Aadi to Kaken if any one of the following occur, under which circumstances the termination fee will be the sole and exclusive remedy of Kaken against Aadi for the termination of the Divestiture Agreement or the failure to complete the Divestiture:

| • |     | (1) the Divestiture Agreement is terminated because the completion of the Divestiture has not occurred by the                                                                                                                                 
 Termination Date, or because of Aadi’s failure to obtain the required approval of Aadi stockholders; (2) at the time of such termination, certain of the closing conditions set forth in the Divestiture Agreement have not been satisfied;   
 (3) prior to the termination of the Divestiture Agreement, an acquisition proposal