Form 8-K

8-K — Transcode Therapeutics, Inc.

Accession: 0001104659-26-107115

Filed: 2026-09-11

Period: 2026-09-09

CIK: 0001829635

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

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

Item: Financial Statements and Exhibits

Documents

8-K — tm2625146d1_8k.htm (Primary)

EX-10.1 — EXHIBIT 10.1 (tm2625146d1_ex10-1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K — FORM 8-K

8-K (Primary)

Filename: tm2625146d1_8k.htm · Sequence: 1

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0001829635

2026-09-09

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

September 9, 2026

TRANSCODE

THERAPEUTICS, INC.

(Exact name of registrant as specified in its

charter)

Delaware

001-40363

81-1065054

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

TransCode

Therapeutics, Inc.

Liberty Square, #2382

Boston, Massachusetts

02109

(Address

of principal executive offices, including zip code)

(857)

837-3099

(Registrant’s

telephone number, including area code)

Not Applicable

(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:

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))

Securities registered pursuant to Section 12(b) of the Act.

Title of each class

Trading symbol(s)

Name of each exchange on which

registered

Common

Stock, par value $0.0001 per share

RNAZ

The Nasdaq

Capital Market

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2

of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging

growth company x

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item

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

of Certain Officers.

Departure of Chief Financial Officer, Principal

Financial Officer, Principal Accounting Officer and Director

On September 10, 2026, TransCode Therapeutics,

Inc. (the “Company”) announced that Thomas A. Fitzgerald, M.B.A. had resigned as Chief Financial Officer, principal financial

officer and principal accounting officer of the Company, and as a member of the Board of Directors of the Company (the “Board”),

as well as from all other officer and director positions he held with the Company and any of its subsidiaries, in each case effective

as of September 9, 2026 (the “Separation Date”). Mr. Fitzgerald’s decision to resign from the Board was not the result

of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company.

In connection with Mr. Fitzgerald’s resignation,

Mr. Fitzgerald and the Company entered into a Separation and Transition Services Agreement (the “Separation Agreement”), pursuant

to which the Company agreed to pay Mr. Fitzgerald severance payments totaling up to $1,250,000, which consists of (i) a lump sum cash

payment of $416,666.67 payable within 10 days following the effective date as defined in the Separation Agreement (the “Effective

Date”), (ii) an aggregate of $416,666.67 payable in equal monthly installments over the 12-month period following the Effective

Date (the “Severance Period”) and (iii) up to an additional $416,666.67 (the “Third Payment”), subject to the

funding-related conditions described below.

The Third Payment will be paid as follows: (i)

if neither funding threshold described below is achieved before the first anniversary of the Effective Date (the “Anniversary”),

the full Third Payment will be paid following the Anniversary; (ii) if the Company receives at least $5.0 million of Qualified Funding

(as described below) before the Anniversary, the Company will pay 50% of the Third Payment and 50% of the then-unpaid monthly severance

installments; (iii) if the Company receives at least $10.0 million of Qualified Funding before the Anniversary without previously achieving

the $5.0 million threshold, the Company will pay the full Third Payment and all then-unpaid monthly severance installments; and (iv) if

the Company achieves the $10.0 million threshold before the Anniversary after previously achieving the $5.0 million threshold, the Company

will pay the remaining 50% of the Third Payment and all then-unpaid monthly severance installments. “Qualified Funding” generally

includes gross funding received by the Company from any source.

The Separation Agreement also provides that, as

of the Effective Date, subject to Mr. Fitzgerald’s compliance with the Separation Agreement, all outstanding equity awards held

by Mr. Fitzgerald will become fully vested and the exercise period for any such equity awards will be extended through the end of the

original full term of such awards. In addition, the Separation Agreement provides that the Company will grant to Mr. Fitzgerald on the

Separation Date an option to purchase 185,000 shares of the Company’s common stock at an exercise price equal to the closing price

of the common stock on that date. The option will vest and become exercisable in equal monthly installments over the 12 months following

the Separation Date, subject to 50% acceleration upon achievement of the $5.0 million funding threshold and full acceleration upon achievement

of the $10.0 million funding threshold or the occurrence of a sale event.

The Company will also pay Mr. Fitzgerald’s

COBRA premiums for up to 12 months following the Separation Date, subject to earlier termination if Mr. Fitzgerald becomes eligible for

health coverage from a subsequent employer or ceases to be eligible for COBRA coverage. If Mr. Fitzgerald does not elect or is not eligible

for COBRA coverage, the Company will instead pay Mr. Fitzgerald’s portion of his Medicare premiums.

During

the Severance Period, Mr. Fitzgerald has agreed to provide up to 20 hours of transitional services during September 2026 without additional

compensation, and may provide additional mutually agreed transitional services thereafter at an hourly rate. The Company and Mr.

Fitzgerald also entered into a mutual release of claims, subject to certain exceptions.

The foregoing description of the terms of the Separation Agreement

is not complete and is qualified in its entirety by reference to the Separation Agreement, a copy of which is attached hereto as Exhibit

10.1.

Appointment of Interim Chief Financial Officer,

Principal Financial Officer and Principal Accounting Officer

John Tattory was appointed to serve as the Company’s

Interim Chief Financial Officer, principal financial officer and principal accounting officer, effective as of September 9, 2026.

Beginning September 9, 2026, Mr. Tattory will

provide his services as a consultant through Stout Risius Ross, LLC (“Stout”) at an agreed upon hourly rate.

Mr. Tattory, aged 61, has extensive financial

and operational leadership experience in private and publicly traded pharmaceutical, medical device, and biotechnology companies. He

currently serves as a Managing Director at Stout, a global advisory firm. Prior to joining Stout, Mr. Tattory was at LS Associates providing

CFO consulting services to public and private biotechnology and medical device companies. Prior to that, he held full-time CFO positions

at Windtree Therapeutics, Inc., a once-publicly traded development stage biotechnology company, and Cerapedics, Inc., a privately held,

commercial stage medical device company. He also previously held financial management positions at Bristol-Myers Squibb and Ernst &

Young. Mr. Tattory is a certified public accountant (currently inactive status) and holds a B.S. degree in Commerce from Rider University.

There is no arrangement or understanding between

Mr. Tattory and any other person pursuant to which he was selected as an officer of the Company, and there are no family relationships

between Mr. Tattory and any of the Company’s directors or executive officers. There are no transactions to which the Company is

a party and in which Mr. Tattory has a direct or indirect material interest that would be required to be disclosed under Item 404(a) of

Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

10.1

Separation Agreement, effective as of September 9, 2026, by and between TransCode Therapeutics, Inc. and Thomas A. Fitzgerald, M.B.A.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

TRANSCODE

THERAPEUTICS, INC.

By:

/s/ Philippe P. Calais

Name:

Philippe P. Calais

Title:

Chief Executive Officer

September 11, 2026

EX-10.1 — EXHIBIT 10.1

EX-10.1

Filename: tm2625146d1_ex10-1.htm · Sequence: 2

Exhibit 10.1

September 9, 2026

Thomas A. Fitzgerald

Re: Separation and Transition Services Agreement

Dear Tom:

This letter agreement follows our conversation

of August 19, 2026, regarding your employment with TransCode Therapeutics, Inc. (the “Company”) and confirms

the termination of your employment with the Company effective September 9, 2026 (the “Separation Date”). We appreciate

your contributions and would like to work with you to make this transition as smooth as possible.

Regardless of whether

you sign this Agreement (as defined below): (i) you and we are subject to continuing obligations under your Employment Agreement

with the Company dated March 24, 2021 (the “Employment Agreement”) and your Employee Confidentiality and Intellectual

Property Assignment Agreement with the Company (the “Confidentiality Agreement” and with any other confidentiality,

restrictive covenant and other ongoing common law or fiduciary obligations you have to any of the Releasees (as defined below), the “Ongoing

Obligations”); and (ii) your equity rights remain subject to the applicable equity agreement and the Company’s equity

plan (the “Equity Documents”) in all respects, except in the case of this clause (ii) as may be expressly modified

by this Agreement.

The Company shall, if it has not already done

so, pay or provide you with the “Accrued Obligations” described in the Employment Agreement: (i) all accrued but

unpaid salary as of the Separation Date, (ii) accrued but unused paid time off, and (iii) any equity rights vested prior to

the Separation Date, subject to the Equity Documents and this Agreement.

The remainder of this letter proposes an agreement

(the “Agreement”) between you and the Company. You and the Company agree as follows:

1.            Severance

Benefits

(a)           Severance

Pay.

The Company will pay you an aggregate severance payment (to which,

absent your signing this Agreement, you would not otherwise be entitled) totaling $1,250,000 (the “Severance Pay”).

The Severance Pay shall be subject to taxes and lawful withholdings; all amounts listed below are gross (before taxes). The Company shall

pay the Severance Pay in installments as follows and subject to the following terms and conditions :

i. The Company shall pay you $416,666.67 within 10 days following the Effective Date;

ii. The Company shall pay you the aggregate amount of $416,666.67 (the “Monthly Severance Payments”). Except as expressly

otherwise provided in subsection (iii), the Company shall pay the Monthly Severance Payments ratably in equal monthly installments for

the 12-month period following the Effective Date (the “Severance Period”), beginning with the Company’s first

regular payroll date occurring during the month after the Effective Date and on or before the 15th of each subsequent month

thereafter through September 2027;

Page 2

iii. The Company shall pay you an aggregate amount of $416,666.67 (the “Third Payment”) under the following circumstances

and subject to the following conditions:

a. The Company will pay the Third Payment if, as of the 12-month anniversary of the Effective Date (defined below) (such anniversary,

the “Anniversary”), neither a $5 Million Financing nor a $10 Million Financing has occurred ($5 Million Financing and

$10 Million Financing as defined below).

b. If, instead of (a), the Company achieves a $5 Million Financing prior to the Anniversary, the Company will pay you (i) 50% of

the Third Payment (i.e. $208,333.33); and (ii) 50% of any then-unpaid Monthly Severance Payments.

c. If, instead of (a) or (b), the Company achieves a $10 Million Financing prior to the Anniversary, and the Company has not achieved

a $5 Million Financing, the Company will pay you (i) the Third Payment; and (ii) the remainder of any then-unpaid Monthly Severance

Payments.

d. If the Company achieves a $10 Million Financing prior to the Anniversary, and the Company has already achieved a $5 Million Financing,

the Company will pay you (x) the remaining 50% of the Third Payment; and (y) any then-unpaid Monthly Severance Payments.

e. Any payment under this subsection (iii) shall be made within 10 days after the triggering date (i.e. Anniversary or Financing).

f. To avoid all doubt, notwithstanding anything in this Agreement to the contrary, in no event shall the amount paid with respect to

the Third Payment under this subsection (iii) exceed $416,666.67, and in no event shall the amount paid with respect to the Monthly

Severance Payments exceed $416,666.67.

“$5 Million Financing”

means the Company’s cumulative receipt of Qualified Funding of at least $5,000,000 following the Separation Date.

“$10 Million Financing”

means the Company’s cumulative receipt of Qualified Funding of at least $10,000,000 following the Separation Date.

Page 3

“Qualified Funding” means gross funding from any

source(s), including but not limited to (i) the sale of securities, whether in a single transaction or a series of related transactions,

(ii) any funding from an affiliate of the Company with the term affiliate defined in accordance with the definition used by the U.S.

Securities and Exchange Commission and (iii) funding of any other type from any other source or funds provider. To avoid any doubt,

any funding the Company receives under its Standby Equity Purchase Agreement with an affiliate of Yorkville Global Advisors (the “SEPA”)

shall count as Qualified Funding.

(b)           Equity

Treatment.

(i)            The

Company shall also grant you on the Separation Date an option to purchase 185,000 shares of common stock (the “Equity Award”).

Notwithstanding the terms and conditions of the Equity Documents, the Equity Award shall be for a term of 10 years from the date of grant

and the exercise price shall be the closing price of the common stock on the Separation Date. The Company shall use commercially reasonable

efforts to register the Equity Award on a Registration Statement on Form S-8 as soon as practicable but in no event later than December 31,

2026. The Equity Award will vest and become exercisable in equal monthly installments over the 12 months following the Separation Date,

subject to acceleration: (i) in full upon a Sale Event (as defined in the Equity Documents) or the achievement of the $10 Million

Financing; or (ii) as to 50% of the Equity Award upon the achievement of the $5 Million Financing. The Equity Award otherwise will

be subject to the applicable Equity Documents.

(ii)           Notwithstanding

anything to the contrary in the Equity Documents, as of the Effective Date, subject to your compliance with this Agreement, all outstanding

equity awards held by you shall become fully vested and the exercise period for any such equity awards, as applicable, shall be extended

through the end of the original full term of such awards set forth in the applicable Equity Documents.

Benefits. If you elect and remain eligible for COBRA continuation coverage, the Company shall pay in full twelve (12) months of COBRA

premiums until the earlier of the 12-month anniversary of the Separation Date, your eligibility for health insurance from a subsequent

employer or the end of your eligibility under COBRA for such continuation coverage. In the alternative, the Company shall elect to pay

your portion of Medicare premiums in the event that you do not elect or are not eligible for COBRA continuation coverage. You agree to

inform the Company promptly upon your eligibility for group health insurance from a subsequent employer, and you agree to respond promptly

to the Company’s reasonable COBRA-related inquiries.

Page 4

2.            Transitional

Services

You agree to provide transitional services (the

“Transitional Services”) (i) for up to 20 hours during September 2026 (the “Transitional Period”)

for hours reasonably agreed by you and the Company with no fee payable to you; and (ii) for any hours thereafter mutually agreed

upon by you and the Company at an hourly rate of $350. In the event you provide Transitional Services as set forth above, the Company

shall not deem your Services as substandard in any way except in the event of gross negligence or fraud and shall not attempt to argue

that the quality of Transitional Services that you provide in any way (except in the event of gross negligence or fraud) constitutes a

breach of this Agreement permitting the Company to claim a right to reduce any amounts owed you hereunder. For clarity, your provision

of Transitional Services shall not constitute a service relationship for the purpose of any compensation or benefits, including without

limitation under the equity incentive plans and Equity Documents. Notwithstanding the foregoing, the Company may terminate the Transitional

Period at any time if you commit gross negligence or fraud or materially breach the Ongoing Obligations or this Agreement. The Company

further agrees and acknowledges that any services you may provide to any third parties during the Transitional Period do not represent

a conflict with this Agreement or your provision of Transitional Services to the Company. To the extent you provide Transitional Services,

the Company shall provide you with all information and materials reasonably required, in the Company’s judgment, for you to perform

the Transitional Services.

3.            Resignations

from Other Positions; Transition of Information and Access

In connection with the ending of your employment,

you hereby (i) resign from any and all Company positions, including, without implication of limitation, as Vice President of Administration,

Chief Financial Officer, Secretary and director of the Company, as trustee or other officer, or other positions you occupy, or may be

deemed to occupy, at the Company, or any of its subsidiaries or affiliates, in each case effective as of the Separation Date; (ii) agree

to execute such documentation as the Company or its applicable subsidiary or affiliate reasonably requires to effectuate such resignations;

and (iii) take such steps as the Company (or its applicable subsidiary or affiliate) reasonably requests to ensure the transition

of any account access, systems access, password access, customer access, confidential information, Company property, customer information

or customer relationships to the Company or its applicable subsidiary or affiliate. You acknowledge and agree that your resignations described

in this section shall be effective as of the date of this Agreement and shall not be subject to the Revocation Period (as defined below)

or otherwise revocable.

4.            Mutual

Release of Claims

In consideration for, among other terms, your

eligibility for the consideration described in this Agreement, you, on behalf of yourself and your heirs, administrators, representatives,

successors and assigns (together with you, the “Employee Releasors”) voluntarily release and forever discharge the

Company, its affiliated and related entities, its and their respective predecessors, successors and assigns, its and their respective

employee benefit plans and fiduciaries of such plans, and the current and former employees, officers, directors, shareholders, interest

holders, managers, members, partners, investors, attorneys, accountants and agents of each of the foregoing in their official and personal

capacities (collectively referred to as the “Company Releasees”) generally from all claims, demands, debts, damages

and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when you sign this Agreement,

you or any other Employee Releasor have, ever had, now claim to have or ever claimed to have had against any or all of the Company Releasees.

This release includes, without limitation, all Claims:

- relating to your employment by and termination of employment with the Company;

Page 5

- of wrongful discharge or violation of public policy;

- of breach of contract including, without limitation, the Employment Agreement;

- all other claims under the Employment Agreement;

- of defamation or other torts;

- of retaliation or discrimination under federal, state or local law (including, without limitation, Claims

of discrimination or retaliation under the Age Discrimination in Employment Act, the Americans with Disabilities Act, and Title

VII of the Civil Rights Act of 1964);

- under any other federal or state statute;

- under MGL c. 151B;

- for wages, bonuses, incentive compensation, commissions, stock, stock options, vacation pay or any other compensation or benefits,

either under the Massachusetts Wage Act, M.G.L. c. 149, §§148-150C, or otherwise; and

- for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief

and attorney’s fees;

provided,

however, that this release shall not affect your rights under this Agreement, any indemnification rights you have under the Company’s

applicable indemnification agreement, charter, and/or bylaws, or your vested rights under (and subject to) the Equity Documents.

You acknowledge and represent that, except as

expressly provided in this Agreement including but not limited to payment of the Accrued Obligations as defined herein, the Company has

paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest,

severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits

and compensation due to you except that the Company shall reimburse you for $12,500 for legal fees and expenses incurred in connection

with the negotiation of this Agreement at the same time as the Severance Payment under Section 1(a)(i). You specifically represent

that you are not due to receive any commissions or other incentive compensation from the Company except as provided in this Agreement.

You agree not to accept damages of any nature,

other equitable or legal remedies for your own benefit or attorney’s fees or costs from any of the Company Releasees with respect

to any Claim released by this Agreement. As a material inducement to the Company to enter into this Agreement, you represent that you

have not assigned any Claim to any third party.

The Company, its affiliated and related entities

and subsidiaries, its and their respective predecessors, successors and assigns, and the current and former employees, officers, directors,

shareholders, interest holders, managers, members, partners, investors, attorneys, accountants and agents of each of the foregoing in

their official capacities (the “Company Releasors”) voluntarily release and forever discharge you on behalf of yourself

and your heirs, administrators, representatives, successors and assigns (the “Employee Releasees”) generally from all

claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the

date of the execution of this Agreement, the Company Releasors have, ever had, now claim to have or ever claimed to have had against any

or all of the Employee Releasees, provided, however, that this release shall not affect the Company Releasors’ rights under

this Agreement, any indemnification rights Company Releasors’ have under the Company’s applicable indemnification agreement,

charter, and/or bylaws, or Company Releasors’ rights under (and subject to) the Equity Documents.

Page 6

The Company Releasors agree not to accept damages

of any nature, other equitable or legal remedies for their own benefit, or attorney’s fees or costs from any of the Employee Releasees

with respect to any Claim released by this Agreement. As a material inducement to the Company entering into this Agreement, the Company

Releasors represent that they have not assigned any Claim to any third party.

5. Return of Property

You shall not dispose

of Company property (including information, documents, computerized data and any copies made of any of the foregoing (“Documents”)),

without written authorization. The Company shall permit you to retain the Company Lenovo laptop with asset tag number 1003, provided

you first furnish the laptop to the Company to allow the Company to wipe the laptop of all Company data. Notwithstanding the foregoing,

you agree to return to the Company all Company property, including, without limitation, keys and access cards, credit cards, files and

any Documents containing information concerning the Company, its business or its business relationships (in the latter two cases, actual

or prospective) and any information about the Company’s commercial and technical strategies and mechanics associated with implementing

those strategies, on or before the fifteenth (15th) day following the Separation Date. After returning all Documents and Company

property, you commit to deleting and finally purging any duplicates of files or documents that may contain Company information from any

non-Company computer or other device that remains your property. In the event that you discover that you continue to retain any such property,

you shall return it to the Company immediately.

6. Non-Disparagement

Subject to the Protected

Activities section below, you agree not to make any oral or written disparaging statements (including through social media) concerning

the Company or any of its affiliates or current or former officers, directors, shareholders, employees or agents. You further agree not

to take any actions or conduct yourself in any way that would reasonably be expected to affect adversely the reputation or goodwill of

the Company or any of its affiliates or any of its current or former officers, members, directors, shareholders, employees or agents.

These non-disparagement obligations shall not in any way affect your obligation to testify truthfully in any legal proceeding. The Company‘s

C-level officers and its current directors shall not: (i) make any oral or written disparaging statements (including through social

media) concerning you; or (ii) take any actions or conduct themselves in any way that would reasonably be expected to affect adversely

your reputation or goodwill.

7.            Announcement

of Transition

You agree to assist the Company, at the Company’s

reasonable request, with the press release announcing your resignation. The Company will submit the press release for your review and

you agree to respond promptly with any comments you may have, which will be considered in good faith by the Company.

Page 7

8.            Confidentiality

of Agreement-Related Information; Other Obligations

Subject to the Protected

Activities section below, you agree, to the fullest extent permitted by law, to keep all Agreement-Related Information completely

confidential. “Agreement-Related Information” means the negotiations leading to this Agreement and the terms of this

Agreement. Notwithstanding the foregoing, you may disclose Agreement-Related Information to your spouse, your family, your attorney and

your financial advisors, and to them only provided that they first agree for the benefit of the Company to keep Agreement-Related Information

confidential. You represent that during the period since you received the first draft of this Agreement, you have not made any disclosures

that would have been contrary to the foregoing obligation if it had then been in effect. Nothing in this section shall be construed to

prevent you from disclosing Agreement-Related Information to the extent required by a lawfully issued subpoena or duly issued court order;

provided that you provide the Company with advance written notice and a reasonable opportunity to contest such subpoena or court order.

You agree to notify future employers of your Ongoing Obligations.

9.            Protected

Activities

Nothing contained in this Agreement or in any

other agreement with the Company limits your ability to: (i) file a charge or complaint with any federal, state or local governmental

agency or commission, including without limitation the Equal Employment Opportunity Commission, the National Labor Relations Board or

the Securities and Exchange Commission (a “Government Agency”); (ii) communicate with any Government Agency or

otherwise participate in any investigation or proceeding that may be conducted by any Government Agency; (iii) exercise any rights

you may have under Section 7 of the National Labor Relations Act, including any rights you may have under such provision to assist

co-workers with or discuss any employment issue, dispute or term or condition of employment as part of engaging in concerted activities

for the purpose of mutual aid or protection; (iv) discuss or disclose information about unlawful acts in the workplace, such as harassment

or discrimination or any other conduct that you have reason to believe is unlawful; or (v) testify truthfully in a legal proceeding,

in any event with or without notice to or approval of the Company so long as such communications and disclosures are consistent with applicable

law and the information disclosure was not obtained through a communication that was subject to the attorney client privilege (unless

disclosure of that information would otherwise be permitted consistent with such privilege). If you file any charge or complaint with

any Government Agency and if the Government Agency pursues any claim on your behalf, or if any other third party pursues any claim on

your behalf, you waive any right to monetary or other individualized relief (either individually or as part of any collective or class

action) but the Company will not limit any right you may have to receive an award by an order of a Government Agency pursuant to the whistleblower

provisions of any applicable law or regulation for providing information to the SEC or any other Government Agency.

Page 8

10.          Defend

Trade Secrets Act Notice

You understand that pursuant to the Defend Trade

Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure

of a trade secret that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly,

or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made

in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

11.          Other

Provisions

(a)           Termination

and Return of Payments. If you breach any of your material obligations under this Agreement or the Ongoing Obligations, in addition

to any other legal or equitable remedies it may have for such breach, and notwithstanding anything to the contrary in any agreement between

you and the Company, the Company shall have the right to terminate and/or enforce the return of its non-wage payments to you or for your

benefit under this Agreement and terminate any extended exercise period for your equity rights. Such remedies in the event of your breach

will not affect your continuing obligations under this Agreement.

(b)           Enforceability.

If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement)

shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or

the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,

shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted

by law.

Absence of Reliance. No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the waiving

party. The failure of a party to require the performance of any term or obligation of this Agreement, or the waiver by a party of any

breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent

breach. In signing this Agreement, you are not relying upon any promises or representations made by anyone at or on behalf of the Company.

(d)           Jurisdiction;

Governing Law; Interpretation. Except as expressly otherwise provided in the Equity Documents: (i) you and the Company hereby

agree that the state and federal courts of Massachusetts located in Boston shall have the exclusive jurisdiction to consider any matters

related to this Agreement, including without limitation any claim of a violation of this Agreement; and (ii) with respect to any

such court action, you and the Company submit to the jurisdiction of such courts and you and the Company acknowledge that venue in such

courts is proper; and (iii) this Agreement shall be interpreted and enforced under the laws of Massachusetts, without regard to conflict

of law principles. You and the Company waive any right to a jury with respect to any dispute between you.

(e)           Entire

Agreement. This Agreement, the Ongoing Obligations (which are incorporated herein by reference), the Equity Documents, and any indemnification

rights you have under the Company’s applicable indemnification agreement, charter, and/or bylaws constitute the entire agreement

between you and the Company and supersede any previous agreements, understandings or communications between you and the Company.

Page 9

(f)            Time

for Consideration; Effective Date. You acknowledge that the Company proposed an agreement to you on August 20, 2026 (the “Initial

Proposal”) and that you have been given the opportunity to consider this Agreement for twenty-one (21) days from the date of

the Initial Proposal (the “Consideration Period”). You agree that any edits since your receipt of the first draft of

the Agreement do not restart the Consideration Period. You acknowledge that the above release of claims expressly includes without limitation

claims under the Age Discrimination in Employment Act. You acknowledge that you consulted with an attorney before signing this Agreement.

To accept this Agreement, you must return a signed original or a signed PDF copy of this Agreement so that it is received by the undersigned

at or before the expiration of the Consideration Period. If you sign this Agreement before the end of the Consideration Period, you acknowledge

by signing this Agreement that such decision was entirely voluntary and that you had the opportunity to consider this Agreement for the

entire Consideration Period. For the period of seven (7) days from the date when you sign this Agreement (the “Revocation

Period”), you have the right to revoke this Agreement by written notice to the undersigned. For such a revocation to be effective,

it must be delivered so that it is received by the undersigned at or before the expiration of the Revocation Period. This Agreement shall

not become effective or enforceable during the Revocation Period. It will become effective on the day after the Revocation Period ends

(the “Effective Date”).

(g)            Counterparts.

This Agreement may be executed in separate counterparts. When all counterparts are signed, including by electronic means other than facsimile,

they shall be treated together as one and the same document.

Page 10

Please indicate your agreement to the terms of

this Agreement by signing and returning to the undersigned the original or a PDF copy of this letter within the time period set forth

above.

Very truly yours,

TransCode Therapeutics, Inc.

By:

/s/ Philippe P.

Calais

9/9/2026

Philippe P. Calais

Date

Chairman and CEO

This is a legal document. Your signature will commit you to its terms.

By signing below, you acknowledge that you have carefully read and fully understand all of the provisions of this Agreement and that you

are knowingly and voluntarily entering into this Agreement.

/s/ Thomas A. Fitzgerald

9/9/2026

Thomas A. Fitzgerald

Date

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