Exhibit 10.1

December 31, 2015

To : John Militello

430 East 29th Street,

Suite 940

New York, NY 10016

Dear John,

We are pleased to offer you a position with Immune Pharmaceuticals Inc. (“Immune Pharmaceuticals” or the “Company”) in accordance with the terms and subject to the conditions specified herein below:

You will function as the Vice President of Finance, Controller, and Chief Accounting Officer, and will perform all duties as determined necessary by the Chief Executive Officer (the “CEO” or, your “Supervisor”). This is a full-time position for which you agree to devote 100% of your working hours. You will work primarily from Company’s New York office, but periodically may be required to travel domestically and internationally in accordance with Company’s business needs. It is understood that you may engage in charitable activities and community affairs, provided that these activities do not materially interfere with the proper performance of your duties and responsibilities to Company, or create a conflict of interest.

The term of your employment commenced on April 27, 2015 as amended December 31, 2015 and the terms of this agreement constitute your amended and restated employment agreement. The term of your employment shall continue, unless terminated by either you or Company as set forth in Section 7 below (all periods of your employment with the Company under this employment agreement, the “Term”). Please note that neither this employment agreement nor any other oral or written representations constitute a contract of employment with Company for any guaranteed specific period of time, and that Company shall have the discretion to determine whether or not you will be required to continue to perform your regular duties and/or report to work during any relevant notice period.

Your annual base salary shall be $220,000; less required and authorized deductions (the “Base Salary”), with such Base Salary paid to you on a prorated semi-monthly basis in accordance with Company’s regular payroll practices. It is agreed that during the Term your Base Salary shall not be decreased at any time without your prior written consent. As you know, your position is classified as exempt for purposes of federal wage-hour law and therefore you are not entitled to overtime pay.

In addition to the Base Salary, you will have the opportunity to earn additional compensation via an Incentive Plan, attached to this letter agreement as Schedule A, as amended from time to time.

You will be eligible to participate in all employee benefit plans, programs and arrangements, and all fringe benefits and perquisites that are made available to senior executives of Immune Pharmaceuticals, including but not limited to health insurance coverage in accordance with the terms of the Immune Pharmaceuticals health insurance plan.

You are entitled to take 21 days of paid time off per calendar year (prorated, for partial years of employment), in addition to Company-designated holidays, in each case, in accordance with Company policy and in coordination with your Supervisor. Please note that you shall be permitted to carryover up to 5 days from one calendar year to the next, and shall forfeit any accrued but unused vacation days above such amount. Upon your termination of employment for any reason you shall be entitled to payment for a maximum of 15 accrued but unused days.

In accordance with Company policy, you are entitled to reimbursement for those expenses reasonably incurred by you in connection with your employment duties, upon your submission of an expense report to the CEO of Company, provided that such expense report is in form and in substance satisfactory to Company, and is submitted within thirty days of your incurring such expenses and provided further that such expenses are in line with the Company’s expense policy, as may be amended from time to time.

During the Term, Immune Pharmaceuticals may provide you with the benefit of using Company property, such as a laptop and/or cell phone. Your use of such Company property must be in accordance with Company guidelines, and you are obligated to return any such property to Company upon its request, and in any case upon the termination of your employment for any reason.

Your continued employment is dependent upon your signing and complying with the terms of the Non-Disclosure and Non-Competition Agreement (“NDNC”) attached to this letter agreement as Schedule B.

You employment may be terminated at any time as follows:

In the event of a dispute between you and Company arising out of or related to your employment with Immune Pharmaceuticals (with the exception of disputes arising under the NDNC), it is agreed that any such dispute shall be settled by means of arbitration administered under New York law by the American Arbitration Association (“AAA”) located in the State of New York and conducted in accordance with the AAA’s Employment Rules. In such arbitration, the arbitrator (i) shall not amend or modify the terms of this letter agreement or of any Company policy, and (ii) shall render a decision within ten business days from the closing statements or submission of post-hearing briefs by the parties. The arbitration award shall be final and binding, and any state or federal court shall have jurisdiction to enter a judgment on such award. This requirement to arbitrate disputes shall apply to all claims and demands, including, without limitation, any rights you may assert under any federal, state, or local laws or regulations applicable to your employment with Company.

The intent with respect to any and all payments and benefits under this letter agreement (including Schedule A), is that such payments and benefits either: (i) do not constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code (“Section 409A”), and therefore are exempt from Section 409A, or (ii) are subject to a “substantial risk of forfeiture” and are exempt from Section 409A under the “short−term deferral rule” set forth in Treasury Regulation §1.409A−1(b)(4). In any event, it is confirmed that the intent is to have all provisions of this letter agreement (including Schedule A) construed, interpreted and administered in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.

During your employment with Company, you will be expected to abide by all Company policies, as established from time to time. Please note that the terms of your employment, as well as your post-employment obligations, will be governed by such Company policies, the NDNC, and the terms of this letter agreement, which supersedes any prior agreements, whether oral or written, between you and Company. In addition, all matters related to your relationship with Company shall be governed by New York law.

To signify your agreement with the terms of employment as set forth in this letter agreement, please sign below where indicated, and send a copy of the signed letter agreement (including signed Schedule B) to . Please note that the terms of this letter agreement may be amended only via a writing signed by both you and an officer of Company.

We are confident in your ability to continue to contribute to Company's growth and success, and are happy to continue to have you as a valuable member of the Immune Pharmaceuticals team.

Date: December 31, 2015

SCHEDULE A

Incentive Plan:

You shall be entitled to receive an option to purchase 125,000 shares of common stock of the Corporation, par value $0.0001 each (the “Shares”), under the Immune Pharmaceuticals Inc. 2015 Equity Incentive Plan (the “Plan”), vesting over a period of three (3) years, commencing on the date of grant, whereby 33.33% of the Shares shall vest on the first year anniversary from the date of grant (the “Anniversary”), and the remainder 66.66% of the Shares shall vest in equal portions at the end of each three months period, over the course of a two (2) years period commencing on the Anniversary, subject to the full acceleration of any and all unvested options in the event of a Change of Control.

You are eligible for an annual incentive award for each calendar year of the Term, upon your achievement of mutually agreed upon goals, of an annual bonus of up to 35% of your base salary or $77,000, which may be granted in cash or in equity equivalent (with such equivalent to be determined as of the date of the equity grant). The Board or any designated compensation committee shall have the sole discretion to determine whether you have met the mutually agreed upon goals set of goals, and the amount of such incentive award to be granted to you. The incentive award shall be paid to you in accordance with Company's annual incentive award payment practices and schedule for senior executives of the Company. Please note that in order to receive such incentive award, you must be employed by Company, without notice of any termination having been given, on the date that such incentive award is scheduled to be paid.