Item 5.02. Departure of Directors or Certain O?cers; Election of Directors;
Appointment of Certain O?cers; Compensatory Arrangements of Certain Officers.
On January 16, 2023, amendments were entered into to the service agreements of
various members of the management team (Vorstand) of Immunic AG, a wholly-owned
subsidiary of Immunic, Inc. (the "Company"). Under German law, a company's
management team consists of employee members and is responsible for overseeing
its daily business.
Dr. Daniel Vitt Agreement
Immunic AG entered into a fourth addendum to the Service Agreement (as amended,
the "Amended Vitt Agreement"), dated September 29, 2016, as amended September 4,
2019, March 26, 2021 and January 5, 2022, between Immunic AG and Dr. Daniel
Vitt, the Company's Chief Executive Officer and President. Pursuant to the
Amended Vitt Agreement, Dr. Vitt will continue to serve on the management team
of Immunic AG until December 31, 2023. Dr. Vitt will receive an annual salary,
effective January 1, 2023, of EUR 543,166, to be paid in 12 monthly
installments, and a targeted yearly bonus of up to EUR 271,583 upon achievement
of certain targets.
The preceding summary does not purport to be complete and is qualified in its
entirety by reference to the Amended Vitt Agreement, which is filed as Exhibit
10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Dr. Andreas Muehler Agreement
Immunic AG entered into a fourth addendum to the Service Agreement (as amended,
the "Amended Muehler Agreement"), dated August 22, 2016, as amended September 4,
2019, June 2, 2021 and January 5, 2022, between Immunic AG and Dr. Andreas
Muehler, the Company's Chief Medical Officer. Pursuant to the Amended Muehler
Agreement, Dr. Muehler will continue to serve on the management team of Immunic
AG until December 31, 2023. Dr. Muehler will receive an annual salary of EUR
223,768, to be paid in 12 monthly installments, and a targeted yearly bonus of
up to EUR 89,507.20 upon achievement of certain targets.
The preceding summaries do not purport to be complete and are qualified in their
entirety by reference to the Amended Muehler Agreement, which are filed as
Exhibit 10.2 to this Current Report on Form 8-K and are incorporated herein by
reference.
Dr. Hella Kohlhof Agreement
Immunic AG entered into a fourth addendum to the Service Agreement (as amended,
the "Amended Kohlhof Agreement"), dated September 29, 2016, as amended September
4, 2019, March 25, 2021 and January 5, 2022, between Immunic AG and Dr. Hella
Kohlhof, the Company's Chief Scientific Officer. Pursuant to the Amended Kohlhof
Agreement, Dr. Kohlhof will continue to serve on the management team of Immunic
AG until December 31, 2023. Dr. Kohlhof will receive an annual salary of EUR
380,069, to be paid in 12 monthly installments, and a targeted yearly bonus of
up to EUR 152,027.60 upon achievement of certain targets.
The preceding summary does not purport to be complete and is qualified in its
entirety by reference to the Amended Kohlhof Agreement, which is filed as
Exhibit 10.3 to this Current Report on Form 8-K and is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Exhibit Description
10.1 Fourth Addendum, dated January 16, 2023, to Service
Agreement between Immunic AG and Dr. Daniel Vitt
10.2 Fourth Addendum, dated January 16, 2023, to Service
Agreement between Immunic AG and Dr. Andreas Muehler
10.3 Fourth Addendum, dated January 16, 2023, to Service
Agreement between Immunic AG and Dr. Hella Kohlhof
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