Item 5.02 Departure of Directors or Certain Officers; Election of Directors;


           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.

On October 14, 2021, the board of directors (the "Board") of Immunic, Inc. (the "Company") appointed Patrick Walsh as the Chief Business Officer, effective October 14, 2021.

Mr. Walsh joins Immunic from Akebia Therapeutics, Inc., where he served as Vice President of Business Development and completed an array of strategic transactions, including multiple partnerships, in-licenses, non-dilutive financings, and a merger. Mr. Walsh was previously in Corporate Development at AVEO Oncology, during which time he worked on all aspects of business development. Earlier in his career, he was a consultant to life science companies with Capgemini SE and was on the healthcare investment banking team at Leerink Partners (now SVB Leerink). Mr. Walsh holds both an M.S. in molecular, cellular and developmental biology and an MBA from the University of Michigan and a B.A. in biology and economics from Colby College.

On October 14, 2021, the Company entered into an employment agreement with Mr. Walsh (the "Walsh Employment Agreement"). Pursuant to the Walsh Employment Agreement, Mr. Walsh will receive a base annual salary of $380,000, a signing bonus of $60,000, and an award of options to purchase 120,000 shares of Company common stock. Mr. Walsh is also eligible each year for a target bonus of at least 35% of his base salary, reimbursement for certain expenses, and customary insurance and benefits programs of the Company. The initial term of the Walsh Employment Agreement lasts until December 31, 2022, and automatically extends for successive one-year terms, unless either party provides 90 days' notice of nonrenewal.

If Mr. Walsh's employment is terminated by the Company without Cause or by him for Good Reason (each as defined in the Walsh Employment Agreement), he is entitled to (i) twelve months' base salary, (ii) any accrued but unpaid annual bonus for the fiscal year ended prior to termination, and (iii) reimbursement of certain COBRA premiums. Additionally, 33% of his outstanding equity awards will vest and become exercisable. If such termination occurs within 3 months prior to or 12 months after a change of control, 100% of his outstanding equity awards will vest and become exercisable.

The preceding summary does not purport to be complete and is qualified in its entirety by reference to the Walsh Employment Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits







Exhibit  Description

           Employment Agreement, dated October 14, 2021, by Patrick Walsh and
  10.1   Immunic, Inc.
  104    Cover Page to this Current Report on Form 8-K in Inline XBRL

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