Document:

Form of Change of Control Addendum to RSU Agreement

 Exhibit 10.28 
 ADDENDUM 
 TO 
 RESTRICTED STOCK UNIT ISSUANCE AGREEMENT 
 The following provisions are hereby incorporated into, and
are hereby made a part of, that certain Restricted Stock Unit Issuance Agreement (the “RSU Agreement”) by and between Immunomedics, Inc. (the “Corporation”) and
                                        
(the “Participant”) evidencing the Restricted Stock Units awarded on this date to the Participant under the Corporation’s 2006 Stock Incentive Plan, and such provisions shall be effective immediately. Each Restricted Stock Unit shall
entitle the Participant to one share of Common Stock upon the vesting of that unit. 
 All capitalized terms in this Addendum, to the extent
not otherwise defined herein, shall have the meanings assigned to such terms in the RSU Agreement. 
 INVOLUNTARY TERMINATION FOLLOWING

 A CHANGE IN CONTROL/HOSTILE TAKE OVER 
 1. If the Restricted Stock Units outstanding at the time of a Change in Control are assumed by the successor entity or otherwise continued in full force and effect or replaced with a cash retention program of the
successor entity which preserves the Fair Market Value of the unvested shares of Common Stock subject to those units at the time of the Change in Control and provides for subsequent payout of that value in accordance with the same vesting schedule
applicable to those shares of Common Stock, then no accelerated vesting of the Restricted Stock Units or the underlying shares of Common Stock shall occur at the time of the Change in Control. 
 2. No accelerated vesting of the Restricted Stock Units or the underlying shares of Common Stock shall occur upon a Hostile Take-Over, and those
Restricted Stock Units shall remain outstanding and continue to be governed by the provisions of the RSU Agreement, and any successor entity in the Hostile Take-Over shall accordingly assume or otherwise continue in effect those Restricted Stock
Units. The Participant shall, over the Participant’s period of Service following the Hostile Take-Over, continue to vest in the Restricted Stock Units and the underlying shares of Common Stock in one or more installments in accordance with the
provisions of the RSU Agreement. 
 3. Immediately upon an Involuntary Termination of the Participant’s Service within twelve
(12) months following the Change in Control or Hostile Take-Over, all of the Participant’s outstanding Restricted Stock Units shall vest, and the shares of Common Stock subject to those units shall become immediately issuable to the
Participant, subject to the Corporation’s collection of the applicable Withholding Taxes pursuant to the provisions of Paragraph 7 of the RSU Agreement. In addition, the balance credited to the phantom dividend equivalent book account
maintained on the Participant’s behalf pursuant to Paragraph 4(b) of the RSU Agreement shall immediately vest at the time of such Involuntary Termination and shall be distributed to the Participant promptly thereafter, subject to the
Corporation’s collection of the 

 
applicable Withholding Taxes pursuant to the provisions of Paragraph 7. Should the Restricted Stock Units be replaced with a cash retention plan in
accordance with Paragraph 1 above, then the balance credited to the Participant under that plan at the time of his or her Involuntary Termination shall immediately be paid to the Participant in a lump sum upon such Involuntary Termination, subject
to the Corporation’s collection of the applicable Withholding Taxes; provided, however, that the Participant shall be entitled to such payment only if the Participant’s Involuntary Termination occurs within twelve
(12) months following the Change in Control or Hostile Take-Over to which that cash retention plan pertains. In no event, however, shall such share issuance or payment from such cash retention plan or phantom dividend equivalent book account be
effected later than the later of (i) the end of the calendar year in which such Involuntary Termination occurs or (ii) the fifteenth (15th) day of the third (3rd) calendar month following the date of such
Involuntary Termination, with the applicable Withholding Taxes to be collected on or before such issuance. 
 4. For purposes of this
Addendum, the following definitions shall be in effect: 
 An Involuntary Termination shall mean the termination of the
Participant’s Service by reason of: 
 (i) the Participant’s involuntary dismissal or discharge by the Corporation
for reasons other than Misconduct, or 
 (ii) the Participant’s voluntary resignation following (A) a change in
the Participant’s position with the Corporation (or Parent or Subsidiary employing the Participant) which materially reduces the Participant’s duties and responsibilities or the level of management to which the Participant reports,
(B) a reduction in the Participant’s level of compensation (including base salary, fringe benefits and target bonus under any corporate performance based bonus or incentive programs) by more than fifteen percent (15%) or (C) a
relocation of the Participant’s place of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation (or any Parent or Subsidiary) without the Participant’s
consent. 
 A Hostile Take-Over shall be deemed to occur in the event of a change in ownership or control of the Corporation effected
through either of the following transactions: 
 (i) a change in the composition of the Board over a period of thirty-six
(36) consecutive months or less such that a majority of the Board members ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who either (A) have been Board members continuously since
the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time the Board approved
such election or nomination, or 
  

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 (ii) the acquisition, directly or indirectly, by any person or related group of persons
(other than the Corporation or a person that directly or indirectly controls, is controlled by, or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as
amended) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s shareholders
which the Board does not recommend such shareholders to accept. 
 Misconduct shall mean the commission of any act of fraud,
embezzlement or dishonesty by the Participant, any unauthorized use or disclosure by the Participant of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by the
Participant adversely affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Corporation (or any Parent or
Subsidiary) to discharge or dismiss the Participant or any other person in the Service of the Corporation (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan
and this Addendum, to constitute grounds for termination for Misconduct. 
 IN WITNESS WHEREOF, Immunomedics, Inc. has caused this
Addendum to be executed by its duly authorized officer, effective as of the Effective Date specified below. 
  

			
	IMMUNOMEDICS, INC.
		
	By:	 	  

		
	Title:	 	  

 EFFECTIVE DATE:
                ,          
  

 3Form of Initial Director RSU Issuance Agreement

 Exhibit 10.29 
 INITIAL DIRECTOR GRANT 
 IMMUNOMEDICS, INC. 
 RESTRICTED STOCK UNIT ISSUANCE AGREEMENT 
 RECITALS 
 A. The Plan is to designed to provide equity incentives to selected Employees,
non-employee Board members and consultants and other independent advisors in order to attract and retain their services for the Corporation (or any Parent or Subsidiary). 
 B. The Participant is a non-employee Board member to whom an equity incentive award is to be made pursuant to the Automatic Grant Program under the Plan. 
 C. All capitalized terms in this Agreement shall have the meaning assigned to them in the attached Appendix A. 
 NOW, THEREFORE, it is hereby agreed as follows: 
 1. Grant of Restricted Stock Units. The Participant is hereby awarded, as of the Award Date, Restricted Stock Units under the Automatic Grant Program. Each Restricted Stock Unit represents the right to
receive one share of Common Stock on the vesting date of that Unit. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall
become issuable to the Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement. 
 AWARD SUMMARY 
  

			
	Award Date:	  	                     200  
		
	Number of Shares Subject to Award:	  	         shares of Common Stock (the “Shares”)
		
	Vesting Schedule:	  	The Shares shall vest upon the Participant’s completion of one year of service as a member of the Board measured from the Award Date. However, the Shares will be subject to accelerated
vesting pursuant to the provisions of Paragraph 5 of this Agreement.

 2. Limited Transferability. Prior to the actual issuance of the Shares which vest
hereunder, the Participant may not transfer any interest in the Award or the underlying Shares, except to the limited extent otherwise provided in this Paragraph 2. Any Shares which vest hereunder but which otherwise remain unissued at the time of
the Participant’s death may be transferred pursuant to the provisions of the Participant’s will or the laws of inheritance or to the 

 
Participant’s designated beneficiary or beneficiaries of this Award. The Participant may also direct the Corporation to issue the stock certificates for
any Shares which in fact vest and become issuable under the Award during his or her lifetime to one or more designated Family Members or a trust established for the Participant and/or his or her Family Members. The Participant may make such a
beneficiary designation or certificate directive at any time by filing the appropriate form with the Plan Administrator or its designee. 
 3. Cessation of Service. Should the Participant cease service as a Board member for any reason prior to vesting in one or more Shares subject to this Award, then the Award will, except to the extent the special vesting
acceleration provisions of Paragraph 5 (b) are otherwise applicable, be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will be reduced accordingly. The Participant shall thereupon cease to
have any right or entitlement to receive any Shares under those cancelled units. 
 4. Stockholder Rights and Dividend
Equivalents 
 (a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect
to the Shares subject to the Award until the Participant becomes the record holder of those Shares following their actual issuance. 
 (b)
Notwithstanding the foregoing, should any dividend or other distribution payable other than in shares of Common Stock, whether regular or extraordinary, be declared and paid on the outstanding Common Stock while one or more Shares remain subject to
this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend
equivalent to the actual dividend or distribution which would have been paid on those Shares had they been issued and outstanding and entitled to that dividend or distribution. As the Shares subsequently vest hereunder, the phantom dividend
equivalents credited to those Shares in the book account shall be distributed to the Participant (in cash or such other form as the Plan Administrator may deem appropriate in its sole discretion) concurrently with the issuance of the vested Shares
to which those phantom dividend equivalents relate. 
 5. Special Vesting Acceleration. 
 (a) Should a Change in Control or Hostile Take-Over occur during the Participant’s period of service as a Board member, then the Restricted Stock
Units at the time subject to this Award will vest immediately prior to (i) the closing of such Change in Control or (ii) the effective date of such Hostile Take-Over. The Shares subject to those vested units will be issued immediately upon
such vesting (or otherwise converted into the right to receive the same consideration per share of Common Stock payable to the other stockholders of the Corporation in consummation of the Change in Control transaction). 
  

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 (b) Should the Participant cease service as a Board member by reason of death or Permanent Disability,
then the Restricted Stock Units at the time subject to this Award will vest immediately, and the Shares subject to those vested units will be issued on such vesting date or within thirty (30) days following such vesting date. 
 (c) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or
business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 
 6.
Adjustment in Shares. Should any change be made to the Common Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a
class without the Corporation’s receipt of consideration or should any spin-off of one or more Subsidiaries result in a substantial reduction in the Fair Market Value per share of the outstanding Common Stock, appropriate adjustments shall be
made to the total number and/or class of securities issuable pursuant to this Award in order to reflect such change and thereby preclude a dilution or enlargement of benefits hereunder. 
 7. Issuance of Shares of Common Stock. On the applicable date on which the Shares vest in accordance with the terms of this Agreement or
within thirty (30) days following such vesting date, the Corporation shall issue to or on behalf of the Participant a certificate (which may be in electronic form) for the shares of Common Stock which vest on that date and shall concurrently
distribute to the Participant any phantom dividend equivalents with respect to those Shares. In no event, however, shall such issuance occur later than the later of (i) the end of the calendar year in which the applicable vesting
date occurs or (ii) the fifteenth (15th) day of the third (3rd) calendar month following such vesting date. 
 8.
Compliance with Laws and Regulations. The issuance of shares of Common Stock pursuant to the Award shall be subject to compliance by the Corporation and the Participant with all applicable requirements of law relating thereto and with
all applicable regulations of any stock exchange on which the Common Stock may be listed for trading at the time of such issuance. 
 9.
Notices. Any notice required to be given or delivered to the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or
delivered to the Participant shall be in writing and addressed to the Participant at the address indicated below the Participant’s signature line on this Agreement. All notices shall be deemed effective upon personal delivery or upon deposit in
the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
 10. Successors and Assigns. Except to the
extent otherwise provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and the Participant, the Participant’s assigns, the legal
representatives, heirs and legatees of the Participant’s estate and any beneficiaries of the Award designated by the Participant. 
  

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 11. Governing Law. The interpretation, performance and enforcement of this Agreement shall
be governed by the laws of the State of Delaware without resort to that State’s conflict-of-laws rules. 
 12.
Construction. This Agreement and the Award evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. This Agreement shall be construed in conformity with the
terms of the Plan. 
 13. No Impairment of Rights. Nothing in this Agreement shall interfere with or otherwise restrict in any
way the rights of the Corporation and the Corporation’s stockholders to remove the Participant from the Board at any time in accordance with the provisions of applicable law. 
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above. 
  

			
	 IMMUNOMEDICS, INC.

		
	By:	 	  

		
	Title:	 	  

			
	
	PARTICIPANT
		
	Signature:	 	  

		
	Address:	 	  

		
		 	  

  

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 APPENDIX A  
 DEFINITIONS 
 The following definitions shall be in effect under the Agreement: 
 A. Agreement shall mean this Restricted Stock Unit Issuance Agreement. 
 B. Automatic Grant Program shall mean the automatic grant program for non-employee Board members in effect under Article Four of the Plan.

 C. Award shall mean the award of restricted stock units made to the Participant pursuant to the terms of this Agreement.

 D. Award Date shall mean the date the restricted stock units are awarded to the Participant pursuant to the Agreement and
shall be the date indicated in Paragraph 1 of the Agreement. 
 E. Board shall mean the Corporation’s Board of Directors.

 F. Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following
transactions: 
 (i) a merger, consolidation or other reorganization approved by the Corporation’s stockholders, unless
securities representing more than fifty percent (50%) of the total combined voting power of the voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly and in substantially the same
proportion, by the persons who beneficially owned the Corporation’s outstanding voting securities immediately prior to such transaction, or 
 (ii) a stockholder-approved sale, transfer or other disposition (including in whole or in part through one or more licensing arrangements) of all or substantially all of the Corporation’s assets, or 

(iii) the closing of any transaction or series of related transactions pursuant to which any person or any group of persons comprising
a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is controlled by or is under
common control with, the Corporation) becomes directly or indirectly the beneficial owner (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing (or convertible into or exercisable for securities possessing) more than fifty
percent (50%) of the total combined voting power of the Corporation’s securities (as 

  

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measured in terms of the power to vote with respect to the election of Board members) outstanding immediately after the consummation of such transaction or
series of related transactions, whether such transaction involves a direct issuance from the Corporation or the acquisition of outstanding securities held by one or more of the Corporation’s existing shareholders. 
 G. Code shall mean the Internal Revenue Code of 1986, as amended. 
 H. Common Stock shall mean shares of the Corporation’s common stock. 
 I. Corporation shall mean Immunomedics, Inc., a Delaware corporation, and any successor corporation to all or substantially all of the
assets or voting stock of Immunomedics, Inc. which shall by appropriate action adopt the Plan. 
 J. Family Member shall mean
any of the following members of the Participant’s family: any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law or sister-in-law. 
 K. Hostile Take-Over shall mean a change in ownership or control of the Corporation
effected through either of the following transactions: 
 (i) a change in the composition of the Board over a period of
thirty-six (36) consecutive months or less such that a majority of the Board members ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who either (A) have been Board members
continuously since the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time
the Board approved such election or nomination, or 
 (ii) the acquisition, directly or indirectly, by any person or related
group of persons (other than the Corporation or a person that directly or indirectly controls, is controlled by, or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of
securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities pursuant to a tender or exchange offer made directly to the Corporation’s shareholders which the Board
does not recommend such shareholders to accept. 
 L. 1934 Act shall mean the Securities Exchange Act of 1934, as amended from
time to time. 
 M. Participant shall mean the non-employee Board member to whom the Award is made pursuant to the Agreement.

  

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 N. Permanent Disability shall mean the inability of the Participant to perform his or her
usual duties as a Board member by reason of any medically determinable physical or mental impairment expected to result in death or to be of continuous duration of twelve (12) months or more. 
 O. Plan shall mean the Corporation’s 2006 Stock Incentive Plan, as amended and restated. 
  

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