In connection with its annual review of executive compensation, on June 10, 2009, the Compensation Committee of the Board of Directors of Immunomedics, Inc., a Delaware corporation (the "Company"), approved the following annual base salaries for the fiscal year ending June 30, 2010 and annual bonus and equity awards for 2009 performance for certain named executive officers of the Company as set forth below:

                                                                    Fiscal 2010          Cash      Equity
Name                                     Position                   Base Salary          Bonus     Awarded
Dr. David M. Goldenberg   Chief Scientific Officer and Chief
                          Medical Officer                          $     525,000 (1)   $ 200,000   325,000 (2)
Cynthia L. Sullivan       President and Chief Executive Officer    $     558,600 (3)   $ 160,000   100,000 (2)
                                                                                                   100,000 (4)

(1) Represents a five percent (5%) increase from Dr. Goldenberg's fiscal 2009 base salary of $500,000.

(2) Stock options granted in accordance with the Company's 2006 Stock Incentive Plan, as amended (the "2006 Plan"), at an exercise price of $2.50 (the closing price of the Company's common stock, as listed on the NASDAQ Global Market on June 10, 2009).

(3) Represents a five percent (5%) increase from Ms. Sullivan's fiscal 2009 base salary of $532,000.

(4) Restricted stock units granted in accordance with the Company's 2006 Plan.

In addition, on June 15, 2009, the Compensation Committee of the Board of Directors approved the following annual base salary for the fiscal year ending June 30, 2010 and annual bonus and equity award for 2009 performance for Mr. Gerard G. Gorman, the Company's Senior Vice President, Finance and Business Development, and Chief Financial Officer as set forth below:

                                                                 Fiscal 2010          Cash      Equity
Name                                Position                     Base Salary          Bonus     Awarded
Gerard G. Gorman   Senior Vice President, Finance and           $     306,180 (5)   $ 125,000    60,000 (6)
                   Business Development and Chief Financial
                   Officer

(5) Represents a five percent (5%) increase from Mr. Gorman's fiscal 2009 base salary of $291,600.

(6) Restricted stock units granted in accordance with the Company's 2006 Plan.