Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 130

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 130
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 make a presentation to     
 Aadi’s board of directors regarding the Divestiture Agreement and any adjustments with respect thereto (to the extent that Kaken requests to make such a presentation); it being understood and agreed that, if, in light of any adjustments to the  
 terms and conditions of the Divestiture Agreement and the transaction documents proposed by Kaken during such period, Aadi’s board of directors does not reaffirm its determination that the failure to make an Aadi Board Recommendation Change in  
 response to such Intervening Event could reasonably be expected to be inconsistent with its fiduciary duties, then Aadi’s board of directors shall not be permitted to proceed with such Aadi Board Recommendation Change.                           |

For purposes of this proxy statement and the Divestiture Agreement, an “Intervening Event” means any Effect, or any material consequence of such Effect, that (1) as of the date of the Divestiture Agreement was not known or reasonably knowable based on facts known to Aadi’s board of directors or any executive officers of Aadi or Aadi Sub as of the date of the Divestiture Agreement; and (2) does not directly or indirectly relate to an acquisition proposal. The Divestiture Agreement provides that at any time prior to obtaining the requisite stockholder approval, if Aadi or Aadi Sub has received a written acquisition proposal that Aadi’s board of directors has concluded in good faith (after consultation with its financial advisor and outside legal counsel) is a Superior Proposal, then Aadi’s board - 84 -

of directors may (1) effect an Aadi Board Recommendation Change with respect to such Superior Proposal and/or (2) authorize Aadi to terminate the Divestiture Agreement to enter into an Alternative Acquisition Agreement with respect to such Superior Proposal, in each case if and only if:

| • |     | Aadi’s board of directors determines in good faith (after consultation with its financial advisor and                                   
 outside legal counsel) that the failure to take such actions could reasonably be expected to be inconsistent with its fiduciary duties; |

| • |     | Aadi and Aadi Sub have complied in all material respects with their obligations under the Divestiture Agreement 
 with respect to such acquisition proposal;                                                                      |

| • |     | Aadi or Aadi Sub has provided prior written notice to Kaken that Aadi’s board of directors has (1) made                                                                                                                                                
 the determination that the failure to enter into an Alternative Acquisition Agreement with respect to such Superior Proposal could reasonably