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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of report (Date of earliest event
reported): August 21, 2012 (August 16, 2012) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GENSPERA, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in Charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">0001421204</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">20-0438951</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation or organization)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Commission File No.)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(IRS Employee Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2511 N Loop 1604 W, Suite 204</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>San Antonio, TX 78258</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>(Address of Principal
Executive Offices) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>210-479-8112</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>(Issuer Telephone
number) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item&nbsp;5.02.</B></TD><TD STYLE="text-align: justify"><B>Departure of Director or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Appointment of Principal Accounting
Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 16, 2012, GenSpera, Inc. (&ldquo;Company&rdquo;)
appointed Nancy Jean Barnabei, CPA, to serve, on a part-time basis, as Vice President  Finance, Treasurer and Principal Accounting
Officer. There are no arrangements or understandings between Ms. Barnabei and any other persons pursuant to which she was selected
as an officer, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item
404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Nancy Jean Barnabei,
</I></B>age 49, serves as our Vice President Finance and Treasurer.&nbsp; Ms. Barnabei has more than 20 years&rsquo; experience
with both public and private companies in the biotechnology industry. From 2010--2011, Ms. Barnabei served as Chief Financial Officer
of Corridor Pharmaceuticals, Inc., a drug development company, which acquired Immune Control Inc., where she served as Chief Financial
Officer from 2008-2010. She founded Talkeetna Advisors, LLC in 2005, a consulting and advisory firm specializing in biotechnology
companies. From 2000-2004, she was Vice President Finance, Treasurer and Chief Financial Officer at Locus Pharmaceuticals, Inc.&nbsp;
Her previous experience includes eight years at Cephalon, Inc., concluding as Corporate Controller.&nbsp; Ms. Barnabei earned a
B.S. in business administration in 1986 from Northeastern University, Boston, and is a certified public accountant.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with Ms. Barnabei&rsquo;s
employment, we entered into: (i) an employment agreement; (ii) a proprietary information, inventions and competition agreement;
and (iii) an indemnification agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Employment Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with
Ms. Barnabei&rsquo;s employment, the Company has entered into a two (2) year employment agreement. The agreement
automatically renews for <FONT STYLE="color: black">one (1) additional year unless, not later than three (3) months before
the conclusion of its term, the Company or Ms. Barnabei give notice not to extend the agreement.&nbsp; </FONT>Pursuant to the
terms of the employment agreement, Ms. Barnabei is employed on a part time basis as the Company&rsquo;s Vice President
Finance, Treasurer and Principal Accounting Officer. As part of her employment, Ms. Barnabei has agreed to devote no less
than 24 hours per week to the business and affairs of the Company. As compensation for her services, Ms. Barnabei shall
receive a base salary of $144,000 per year. In addition, Ms. Barnabei is eligible to receive annual and discretionary bonuses
of up to 35% and 100%, respectively, of her base salary and prorated for the time of her employment during 2012. The bonuses
shall be based on reaching certain milestones as determined by the Company&rsquo;s board of directors (&ldquo;Board&rdquo;),
and are payable in cash and non-cash compensation, or a combination thereof, at the sole discretion of the Board. Ms.
Barnabei is also entitled to receive certain payments and acceleration of outstanding equity awards in the event her
employment is terminated. As part of the agreement, Ms. Barnabei was also granted options to purchase 200,000 shares of the
Company&rsquo;s common stock. The options have an exercise price of $2.80 per share and a term of seven (7) years. The
options were issued pursuant to the Company&rsquo;s 2007 Equity Compensation Plan and vest as follows: (i) 60,000 upon the
effective date of her employment agreement, and (ii) 60,000 on the one year anniversary of  such effective date, provided
she is still employed by the Company at such time. In addition, 80,000 options shall vest upon Ms. Barnabei becoming a full
time employee of the Company, if ever, provided such event occurs before the two year anniversary of the effective date of
the employment agreement. In the event Ms. Barnabei fails to become a full time employee by such time, the 80,000 options
shall automatically terminate. The options are also subject to accelerated vesting upon the occurrence of certain
conditions including a change of control or termination of employment by the Company without cause. Such conditions are more
clearly described in the employment agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Potential Payments Upon Termination
or Change-in-Control </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the her employment agreement,
Ms. Barnabei shall be entitled to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Accelerated </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Vesting of</B> &nbsp;</P></TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Officer</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Salary</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Bonus</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Health</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Options*</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><B>Total</B> &nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Nancy Jean Barnabei</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left; padding-left: 9pt">Terminated without cause (1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">216,000</TD><TD STYLE="width: 1%; text-align: left">(2)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">(3)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$&nbsp;</TD><TD STYLE="width: 10%; text-align: right"> 3,600</TD><TD NOWRAP STYLE="width: 1%; text-align: left">(4)&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp; 0</TD><TD STYLE="width: 1%; text-align: left">(5)&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$&nbsp;</TD><TD STYLE="width: 10%; text-align: right"> 219,600</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Terminated, change of control</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">(5)&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Disability</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">144,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">144,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Also includes termination by Ms. Barnabei with Good Reason</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Represents 18 months of Ms. Barnabei&rsquo;s base salary.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">There has been no bonus established for Ms. Barnabei for the current year but it is anticipated
Annual and Discretionary bonuses will be up to 35% and 100% of Ms. Barnabei&rsquo;s base salary.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">Represents 18 months of Ms. Barnabei&rsquo;s current monthly health care reimbursement of
                                                           $200.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">Ms. Barnabei&rsquo;s options are being issued at the market price of the Company&rsquo;s common
stock and accordingly, do not have any intrinsic value.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Proprietary Information, Inventions
and Competition Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The proprietary information, inventions
and competition agreement requires Ms. Barnabei to maintain the confidentiality of the Company&rsquo;s intellectual property as
well as the assignment of any inventions made by Ms. Barnabei during her employment. The agreement also limits Ms. Barnabei&rsquo;s
ability to compete within certain fields of interest, as defined in the agreement, for a period of 18 months following end of her
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Indemnification Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The indemnification agreement provides
for the indemnification and defense of Ms. Barnabei, in the event of litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing summary of Ms. Barnabei&rsquo;s:
(i) employment agreement; (ii) proprietary information, inventions and competition agreement; and (iii) indemnification agreement
are qualified in their entirety by reference to the full text of the agreements which are attached hereto as Exhibits 10.01, 10.02,
and 10.03, respectively, and which are incorporated herein in their entirety by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Departure of Principal Accounting Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 16, 2012, upon the appointment
of Ms. Barnabei as Vice President  Finance, Treasurer and Principal Accounting Officer, Mr. Dionne was deemed to have ceased
to be employed by the Company as its Principal Accounting Officer. Mr. Dionne continues in his roles as Chief Executive Officer,
Chief Financial Officer, President and Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 &#9;Other Events. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 21, 2012, the Company <FONT STYLE="color: black">issued
a press release announcing the appointment of Ms. Barnabei. A copy of the press release is attached to this report as Exhibit
99.01 and is incorporated herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&#9;Financial
Statement and Exhibits. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>No.</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 86%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.01</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.02</TD>
    <TD>&nbsp;</TD>
    <TD>Proprietary Information, Inventions And Competition Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.03</TD>
    <TD>&nbsp;</TD>
    <TD>Indemnification Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.01</TD>
    <TD>&nbsp;</TD>
    <TD>Press Release Dated August 21, 2012, of GenSpera announcing the appointment of Ms. Barnabei</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt">Dated: August 21, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0; padding-left: 0">GenSpera, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">By:</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; border-bottom: Black 1pt solid">/s/ Craig Dionne</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">Craig Dionne<BR>
Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "GENSPERA INC", "cik": "0001421204", "assigned-sic": "2834", "irs-number": "000000000", "state-of-incorporation": "DE"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-153829", "film-number": "121047218"}, "business-address": {"street1": "2511 N LOOP 1604 W", "street2": "SUITE 204", "city": "SAN ANTONIO", "state": "TX", "zip": "78258", "phone": "(210) 479-8112"}, "mail-address": {"street1": "2511 N LOOP 1604 W", "street2": "SUITE 204", "city": "SAN ANTONIO", "state": "TX", "zip": "78258"}}
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): August 21, 2012 (August 16, 2012)
GENSPERA, INC.
(Exact name of registrant as specified
in Charter)
Delaware
0001421204
20-0438951
(State or other jurisdiction of
incorporation or organization)
(Commission File No.)
(IRS Employee Identification No.)
2511 N Loop 1604 W, Suite 204
San Antonio, TX 78258
(Address of Principal
Executive Offices)
210-479-8112
(Issuer Telephone
number)
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))
Item 5.02.
Departure of Director or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of Principal Accounting
Officer
On August 16, 2012, GenSpera, Inc. ("Company")
appointed Nancy Jean Barnabei, CPA, to serve, on a part-time basis, as Vice President  Finance, Treasurer and Principal Accounting
Officer. There are no arrangements or understandings between Ms. Barnabei and any other persons pursuant to which she was selected
as an officer, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item
404(a) of Regulation S-K.
Nancy Jean Barnabei,
age 49, serves as our Vice President Finance and Treasurer.  Ms. Barnabei has more than 20 years' experience
with both public and private companies in the biotechnology industry. From 2010--2011, Ms. Barnabei served as Chief Financial Officer
of Corridor Pharmaceuticals, Inc., a drug development company, which acquired Immune Control Inc., where she served as Chief Financial
Officer from 2008-2010. She founded Talkeetna Advisors, LLC in 2005, a consulting and advisory firm specializing in biotechnology
companies. From 2000-2004, she was Vice President Finance, Treasurer and Chief Financial Officer at Locus Pharmaceuticals, Inc. 
Her previous experience includes eight years at Cephalon, Inc., concluding as Corporate Controller.  Ms. Barnabei earned a
B.S. in business administration in 1986 from Northeastern University, Boston, and is a certified public accountant.
In connection with Ms. Barnabei's
employment, we entered into: (i) an employment agreement; (ii) a proprietary information, inventions and competition agreement;
and (iii) an indemnification agreement.
Employment Agreement
In connection with
Ms. Barnabei's employment, the Company has entered into a two (2) year employment agreement. The agreement
automatically renews for
one (1) additional year unless, not later than three (3) months before
the conclusion of its term, the Company or Ms. Barnabei give notice not to extend the agreement.
Pursuant to the
terms of the employment agreement, Ms. Barnabei is employed on a part time basis as the Company's Vice President
Finance, Treasurer and Principal Accounting Officer. As part of her employment, Ms. Barnabei has agreed to devote no less
than 24 hours per week to the business and affairs of the Company. As compensation for her services, Ms. Barnabei shall
receive a base salary of $144,000 per year. In addition, Ms. Barnabei is eligible to receive annual and discretionary bonuses
of up to 35% and 100%, respectively, of her base salary and prorated for the time of her employment during 2012. The bonuses
shall be based on reaching certain milestones as determined by the Company's board of directors ("Board"),
and are payable in cash and non-cash compensation, or a combination thereof, at the sole discretion of the Board. Ms.
Barnabei is also entitled to receive certain payments and acceleration of outstanding equity awards in the event her
employment is terminated. As part of the agreement, Ms. Barnabei was also granted options to purchase 200,000 shares of the
Company's common stock. The options have an exercise price of $2.80 per share and a term of seven (7) years. The
options were issued pursuant to the Company's 2007 Equity Compensation Plan and vest as follows: (i) 60,000 upon the
effective date of her employment agreement, and (ii) 60,000 on the one year anniversary of  such effective date, provided
she is still employed by the Company at such time. In addition, 80,000 options shall vest upon Ms. Barnabei becoming a full
time employee of the Company, if ever, provided such event occurs before the two year anniversary of the effective date of
the employment agreement. In the event Ms. Barnabei fails to become a full time employee by such time, the 80,000 options
shall automatically terminate. The options are also subject to accelerated vesting upon the occurrence of certain
conditions including a change of control or termination of employment by the Company without cause. Such conditions are more
clearly described in the employment agreement.
Potential Payments Upon Termination
or Change-in-Control
As part of the her employment agreement,
Ms. Barnabei shall be entitled to
Accelerated
Vesting of
Officer
Salary
Bonus
Health
Options*
Total
Nancy Jean Barnabei
Terminated without cause (1)
$
216,000
(2)
$
0
(3)
$
3,600
(4)
$
0
(5)
$
219,600
Terminated, change of control
—
—
—
$
0
(5)
—
Disability
$
144,000
—
—
—
$
144,000
Other
—
—
—
—
—
(1)
Also includes termination by Ms. Barnabei with Good Reason
(2)
Represents 18 months of Ms. Barnabei's base salary.
(3)
There has been no bonus established for Ms. Barnabei for the current year but it is anticipated
Annual and Discretionary bonuses will be up to 35% and 100% of Ms. Barnabei's base salary.
(4)
Represents 18 months of Ms. Barnabei's current monthly health care reimbursement of
                                                           $200.
(5)
Ms. Barnabei's options are being issued at the market price of the Company's common
stock and accordingly, do not have any intrinsic value.
Proprietary Information, Inventions
and Competition Agreement
The proprietary information, inventions
and competition agreement requires Ms. Barnabei to maintain the confidentiality of the Company's intellectual property as
well as the assignment of any inventions made by Ms. Barnabei during her employment. The agreement also limits Ms. Barnabei's
ability to compete within certain fields of interest, as defined in the agreement, for a period of 18 months following end of her
employment.
Indemnification Agreement
The indemnification agreement provides
for the indemnification and defense of Ms. Barnabei, in the event of litigation.
The foregoing summary of Ms. Barnabei's:
(i) employment agreement; (ii) proprietary information, inventions and competition agreement; and (iii) indemnification agreement
are qualified in their entirety by reference to the full text of the agreements which are attached hereto as Exhibits 10.01, 10.02,
and 10.03, respectively, and which are incorporated herein in their entirety by reference.
Departure of Principal Accounting Officer
On August 16, 2012, upon the appointment
of Ms. Barnabei as Vice President  Finance, Treasurer and Principal Accounting Officer, Mr. Dionne was deemed to have ceased
to be employed by the Company as its Principal Accounting Officer. Mr. Dionne continues in his roles as Chief Executive Officer,
Chief Financial Officer, President and Director.
Item 8.01 	Other Events.
On August 21, 2012, the Company
issued
a press release announcing the appointment of Ms. Barnabei. A copy of the press release is attached to this report as Exhibit
99.01 and is incorporated herein by reference.
Item 9.01    	Financial
Statement and Exhibits.
Exhibit
No.
Description
10.01
Employment Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei
10.02
Proprietary Information, Inventions And Competition Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei
10.03
Indemnification Agreement, dated as of August 16, 2012, between GenSpera, Inc. and Nancy Jean Barnabei
99.01
Press Release Dated August 21, 2012, of GenSpera announcing the appointment of Ms. Barnabei
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: August 21, 2012
GenSpera, Inc.
By:
/s/ Craig Dionne
Craig Dionne
Chief Executive Officer