On May 28, 2019 (the “Effective Date”), Immunomedics, Inc. entered into a consulting agreement with Dr. Robert Iannone, former Head of Research and Development and Chief Medical Officer of the Company. Dr. Iannone resigned as Head of Research and Development and Chief Medical Officer of the Company on April 24, 2019, effective as of the Effective Date. Pursuant to the terms of the Consulting Agreement, Dr. Iannone will provide transition and advisory services on an as-needed basis for up to eight hours per week through December 31, 2019, and will be paid $400 per hour.