Item 1.01. Entry into a Material Definitive Agreement.
On April 15, 2020, the compensation committee of the board of directors of
Immunic, Inc. (the "Company") independently reviewed and approved entering into
an employment agreement with the current Chairman of the Board, Duane Nash, MD,
JD, MBA (the "Executive Chairman Agreement") and pursuant to such approval, on
April 17, 2020, the Company and Dr. Nash entered into the Executive Chairman
Agreement. The Executive Chairman Agreement establishes an "at will" employment
relationship pursuant to which Dr. Nash serves as Executive Chairman and
contemplated a term that ends on October 15, 2020, which was subsequently
extended to April 15, 2021. On April 15, 2021, the Company and Dr. Nash entered
into an addendum (the "Agreement") to extend the term of the Executive Chairman
Agreement to April 15, 2022.
In connection with the Agreement, the Company made a one-time award to Dr. Nash
of an option to purchase 90,000 shares of Company common stock, which will vest
monthly commencing on May 15, 2021, and to increase Dr. Nash's monthly base
salary to $27,960 from $25,417.
The Agreement is attached as Exhibit 10.1 Current Report on Form 8-K and is
incorporated herein by reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information set forth in Item 1.01 of this Current Report on Form 8-K is
hereby incorporated by reference into this Item 5.02 in its entirety.
Item 9.01. Financial Statements and Exhibits
Exhibit Description
Addendum No. 2 to Employment Agreement, dated April 15, 2021,
10.1 between Immunic, Inc. and Duane Nash
104 Cover Page to this Current Report on Form 8-K in Inline XBRL
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