UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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WASHINGTON,
D.C. 20549
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________________________________________
FORM
8-K
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CURRENT
REPORT
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PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
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Date
of report (Date of earliest event reported): May 4,
2010
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GENTA
INCORPORATED
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________________________________________
(Exact
Name of Registrant as Specified in Charter)
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification
No.)
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200
Connell Drive
Berkeley
Heights, NJ
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(908) 286-9800
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(Registrant’s
telephone number, including area code)
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(Former
Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2.
below):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
W. Lloyd Sanders, Senior Vice-President
and Chief Operating Officer of Genta Incorporated (“the Company”), resigned from
the Company, effective May 7, 2010, to pursue other interests. The
Board of Directors of the Company accepted Mr. Sanders’s notice of resignation
from his position, effective May 7, 2010. The Company notes that Mr. Sanders’s
resignation was not the result of any disagreement with the Company. Mr. Sanders
had served as the Company’s Senior Vice-President and Chief Operating Officer
since March 2008 and had been our Senior Vice-President, Commercial Operations
since October 2006.
On May 7, 2010, the Board of Directors
named Gary Siegel, Vice President, Finance, the Company’s Principal Financial
Officer, Principal Accounting Officer, and Secretary to the Board of Directors.
Mr. Siegel had been appointed to these positions on an interim basis in February
2008. In recognition of this change, the Compensation Committee of the Company
approved an increase in Mr. Siegel’s annual salary from $210,000 to $250,000.
The Compensation Committee also agreed to guarantee the payment of Mr. Siegel’s
annual bonus target for 2010, previously established at 25.0% of his annual
salary, or $62,500.00 and payable in January 2011, as long as Mr. Siegel is
still employed by the Company on December 31, 2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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GENTA
INCORPORATED
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By:
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/s/ Gary
Siegel |
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Name: Gary
Siegel
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Title:Vice
President, Finance
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Dated: May
7, 2010