SEC Contract Filing

Filing Date: 2020-04-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>e619564_ex10-2.htm
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: -0.5pt; text-align: right"><B>EXHIBIT 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: -0.5pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: -0.5pt; text-align: center"><B>EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; letter-spacing: -0.5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 5.05pt; text-align: justify; text-indent: 35pt">This
Employment Agreement (the &ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into effective as of April 17, 2020 (the &ldquo;<B><I>Effective
Date</I></B>&rdquo;), by and between <B>IMMUNIC, INC.</B>, a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and
<B>DUANE NASH</B> (the &ldquo;<B><I>Executive</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 5.05pt; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 5.05pt; text-align: justify; text-indent: 35pt">WHEREAS,
the Company desires that the Executive be retained as an employee to serve in the capacity of Executive Chairman of the Board of
Directors of the Company (&ldquo;<B><I>Board</I></B>&rdquo;), and the Executive has agreed to serve in such position in accordance
with the terms and conditions of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 5.05pt; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 5.05pt; text-align: justify; text-indent: 35pt">NOW,
THEREFORE, in consideration of the premises and mutual covenants contained herein, and for other valuable consideration, the Company
and the Executive hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 5.05pt; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term of Employment</U>. The Company shall employ the Executive, and the Executive shall accept employment, upon the terms
and conditions set forth in this Agreement for the period commencing on the Effective Date and ending on the Date of Termination
as provided in <U>Section 5</U> (such period, including any extension as provided below, shall be referred to as the &ldquo;<B><I>Term
of Employment</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Executive&rsquo;s Duties and Obligations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Duties</U>. The Executive shall serve as the Executive Chairman of the Board. The Executive shall be responsible for
all duties customarily associated with such position for a publicly-traded company. The Executive shall report directly to the
Company&rsquo;s Chief Executive Officer and the Board and shall be subject to reasonable policies established by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Location of Employment</U>. The Executive&rsquo;s principal place of business shall be located in San Diego, California.
In addition, the Executive acknowledges and agrees that the performance by the Executive of the Executive&rsquo;s duties shall
require frequent travel including, without limitation, overseas travel from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information, Assignment of Rights, Non-Solicitation and Non-Competition Agreement</U>. In consideration
of the covenants contained herein, the Executive has executed and agrees to be bound by the Confidential Information, Assignment
of Rights, and Non-Solicitation Agreement (the &ldquo;<B><I>Confidentiality Agreement</I></B>&rdquo;) attached to this Agreement
as <B><U>Exhibit A</U></B>. The Executive shall comply at all times with the covenants (including covenants not to solicit employees,
consultants and independent contractors) and othe