GNMX Aevi Genomic Medicine Inc

On May 15, 2019, Brian Piper, the Chief Financial Officer and Secretary of Aevi Genomic Medicine, Inc. (the “Company”), informed the Company that he would be resigning his employment with the Company, effective May 31, 2019.

Michael McInaw, the Company’s current Controller, will be appointed interim Chief Financial Officer effective June 1, 2019. Mr. McInaw, 32, joined the Company in July 2016 as a senior accountant, before serving as manager of accounting and finance, and most recently serving as the Company’s Controller since March 2018. Prior to joining the Company, Mr. McInaw served, most recently as accounting supervisor, at Telerx LLC, a subsidiary of Merck & Co. from 2015 to 2016, and in various accounting roles at Quest Diagnostics, Inc. from 2009 to 2015. Mr. McInaw is a Certified Management Accountant and Certified Public Accountant and received both a B.S. in finance and M.B.A. with concentrations in accounting and finance from St. Joseph’s University.

In connection with Mr. McInaw’s appointment as interim Chief Financial Officer, on May 21, 2019, Mr. McInaw and the Company entered into a letter agreement (the “Offer Letter”) providing for, among other things, a base salary of $180,000 and two cash retention bonuses of $25,000 each. The first $25,000 bonus will become payable if Mr. McInaw remains in active service with the Company through the filing date of its Form 10-Q for the fiscal quarter ended June 30, 2019 (the “First Bonus”). The second $25,000 bonus will become payable if Mr. McInaw remains in active service with the Company through the filing date of its Form 10-Q for the fiscal quarter ended September 30, 2019 (the “Second Bonus”). In the event that Mr. McInaw is terminated by the Company without Cause (as defined below) prior to the filing date of its Form 10-Q for the fiscal quarter ended June 30, 2019, Aevi will pay Mr. McInaw the First Bonus and Second Bonus. In the event that Mr. McInaw is terminated by the Company without Cause after the First Bonus is earned and before the filing date of its Form 10-Q for the fiscal quarter ended September 30, 2019, the Company will pay Mr. McInaw the Second Bonus. If a Change in Control (as defined in the Aevi Genomic Medicine, Inc. Stock Incentive Plan) occurs and Mr. McInaw remains in active service with Aevi through such event, any unpaid First Bonus and/or Second Bonus will become earned and payable. If Mr. McInaw’s employment terminates for any reason other than a termination by the Company without Cause prior to the date that the First Bonus and/or Second Bonus is earned or prior to a Change in Control, Mr. McInaw will not be eligible to receive the applicable retention bonus(es). The foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by reference to the complete text of the Offer Letter, a copy of which is filed as Exhibit 10.1 to this Form 8-K and is incorporated by reference herein.

There are no family relationships between Mr. McInaw and any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer. There is no arrangement or understanding between Mr. McInaw and any other person pursuant to which Mr. McInaw was appointed as interim Chief Financial Officer of the Company. Mr. McInaw has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.