Item 5.02. Departure of Directors or Principal O?cers; Election of Directors;
Appointment of Principal O?cers
On January 5, 2022, Immunic, Inc. (the "Company") approved amendments to the
service agreements of various members of the management team (Vorstand) of
Immunic AG. 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 third amendment to the Service Agreement (as amended,
the "Amended Vitt Agreement"), dated September 29, 2016, as amended September 4,
2019 and March 26, 2021, 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 of EUR 492,021, to be
paid in 12 monthly installments, and a targeted yearly bonus of up to EUR
246,011.50 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 third amendment to the Service Agreement (as amended,
the "Amended Muehler Agreement"), dated August 22, 2016, as amended September 4,
2019 and June 2, 2021, 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 204,155, to be paid in 12
monthly installments, and a targeted yearly bonus of up to EUR 81,662 upon
achievement of certain targets.
The Company also agreed to increase the portion of Dr. Muehler's base salary
that is paid by the Company from $227,000 to $230,287, and a targeted yearly
bonus of up to $92,114.80 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 third amendment to the Service Agreement (as amended,
the "Amended Kohlhof Agreement"), dated September 29, 2016, as amended September
4, 2019 and March 25, 2021, 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 319,149, to
be paid in 12 monthly installments, and a targeted yearly bonus of up to EUR
127,659.60 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 8.01. Other Events
On January 10, 2022, the Company posted an updated corporate presentation on its
website. A copy of the presentation is filed herewith as Exhibit 99.1 and is
incorporated herein by reference. The updated presentation filed herewith
supersedes any corporate presentations previously filed by the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Exhibit Description
10.1 Third Addendum, dated January 5, 2022, to Service Agreement
between Immunic AG and Dr. Daniel Vitt
10.2 Third Addendum, dated January 5, 2022, to Service Agreement
between Immunic AG and Dr. Andreas Muehler
10.3 Third Addendum, dated January 5, 2022, to Service Agreement
between Immunic AG and Dr. Hella Kohlhof
99.1 Presentation, dated January 10, 2022
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