On February 13, 2020, upon recommendation from the Compensation Committee of the Board of Directors and approval by the Board of Directors, Immunomedics, Inc. (the Company") entered into an Executive Employment Agreement (the Itri Agreement") with Dr. Loretta Itri, pursuant to which Dr. Itri will serve as the Company's Chief Medical Officer. Dr. Itri, age 70, was most recently the Executive Vice President of Global Health Sciences & Regulatory Affairs at The Medicines Company since January 2013, where she oversaw the development and regulatory approval of a variety of products, including the early development of inclisiran, and other cardiovascular drugs and antibiotics. Dr. Itri's appointment as Chief Medical Officer is effective as of February 13, 2020. The initial term of the Itri Agreement is for two (2) years, and shall automatically renew for successive one (1) year periods thereafter, unless at least ninety (90) days prior to the end of any such period one party notifies the other in writing that they are exercising their option not to renew the Itri Agreement.