Exhibit 10.13


 


AKARI THERAPEUTICS, PLC


 


2014 EQUITY INCENTIVE PLAN

RESTRICTED STOCK UNIT AGREEMENT


 


	PARTICIPANT:	Rachelle Jacques
	 	 
	NUMBER OF RSUs:	21,475,400
	 	 
	DATE OF GRANT:	1 June 2022




 


Akari Therapeutics, Plc, a public limited
company formed under the laws of England and Wales (the “Company”), is pleased to confirm that the Participant has
been granted a Restricted Stock Unit Award (this “Award”), effective as of the Date of Grant set forth above (the “Grant
Date”). This Award is subject to the terms and conditions of this Restricted Stock Unit Agreement (this “Agreement”)
and is made under the Company’s 2014 Equity Incentive Plan, as it may be amended from time to time (the “Plan”)
or any successor plan, which is incorporated into and made a part of this Agreement. Any capitalized terms used in this Agreement that
are otherwise not defined herein shall have the same meaning prescribed under the Plan.


 


1.                 
Acceptance of Terms and Conditions. By accepting this Award, the Participant agrees to be bound by the terms and conditions
of this Agreement, the Plan, and any and all conditions established by the Company in connection with Awards issued under the Plan, and
understands that this Award does not confer any legal or equitable right (other than those constituting the Award itself) against the
Company or any of its Affiliates, directly or indirectly, or give rise to any cause of action at law or in equity against the Company
or its Subsidiaries.


 


2.                 
Grant of Restricted Stock Units. Subject to the restrictions, limitations, terms and conditions specified in the Plan
and this Agreement, the Company hereby grants this Award to the Participant as of the Grant Date equal to the above-stated number of Restricted
Stock Units (each, an “RSU” and collectively, the “RSUs”), with each such RSU representing the right
to receive one ordinary share, nominal value $0.0001 (a “Share”).


 


3.                 
Vesting of Restricted Stock Units. Subject to the terms and conditions of this Agreement and the Plan, the RSUs shall
vest as follows:


 


	Vest Date	Number of Shares
	1st Anniversary of the Grant Date	10,737,700
	Each month thereafter before the 2nd Anniversary of the Grant Date	894,800
	2nd Anniversary of the Grant Date	894,900


 


Any unvested RSU shall immediately be forfeited
to the Company upon Grantee’s termination of employment from the Company, unless such employment is terminated as a result of an
Involuntary Termination (as defined in Section 7), death or disability, in which case the right of the Participant or his or her representative
to receive the benefits of the RSUs shall be governed under the terms provided in Sections 7, 8 and 9 below. All unvested RSUs shall
be immediately vested upon a Change in Control, as defined in the Participant’s employment agreement with the Company dated February
28, 2022 (the “Employment Agreement”), provided the Participant is then employed by the Company or an Affiliate (except
as set forth in Sections 7, 8 and 9 below).


 






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4.                 
No Dividends or Dividend Equivalents. The Participant shall not receive dividends or dividend equivalents on the RSUs.


 


5.                 
Conversion of Vested Restricted Stock Units; Issuance of Shares. To the extent, if any, the RSUs are vested pursuant
to the terms of this Agreement or the Plan, conditionally upon the Company’s having received from the Executive in cash within 10
days of the relevant vesting date an issue price for the relevant Shares equal to their nominal value (currently $0.0001 per Share), the
Shares shall be issued to or in respect of the Participant as soon as practicable thereafter, but not more than fifteen (15) days) after
the applicable vesting date. On the date Shares are to be so issued to or in respect of the Participant with respect to a vested RSU,
the Company shall promptly cause to be issued in book-entry form, registered in the Participant’s (or a nominee’s) name, the
appropriate number of Shares in payment of such vested RSUs. The value of RSUs shall be settled solely in Shares. Notwithstanding anything
herein to the contrary, the Company shall have no obligation to issue cash or Shares in satisfaction of the RSUs unless such issuance
and such payment shall comply with all relevant provisions of law and the requirements of any stock exchange.


 


6.                 
Tax Withholding Obligations. The Participant shall either, as the Participant elects: (i) deposit with the Company an
amount of cash equal to the amount determined by the Company to be required with respect to any minimum required withholding taxes (including
income and employee FICA and Medicare taxes), or the like under any federal, state or local statute, ordinance, rule or regulation in
connection with the vesting of the RSUs (the “Taxes”) or (ii) direct the Company to withhold a number of RSUs otherwise
deliverable in Shares hereunder having a fair market value sufficient to satisfy the Participant’s Taxes. The Company shall not
deliver any of the Shares due to Grantee upon vesting of the RSUs until and unless the Participant has made the cash deposit or direction
to withhold RSUs required herein or other proper provision for required withholding of Taxes has been made.


 


7.                 
Involuntary Termination. “Involuntary Termination” means with a termination of the Participant’s
employment by the Company without Cause or the Participant’s resignation for Good Reason, as such terms are defined under the Employment
Agreement. In the event Participant holds unvested RSUs at the time of an Involuntary Termination, the RSUs will become immediately vested
upon such Involuntary Termination.


 


8.                 
Disability. In the event the Participant suffers a Disability, as defined by the Employment Agreement, while employed
by the Company, all then current RSUs will become immediately vested.


 


9.                 
Death. In the event the Participant dies (i) while employed by the Company all then current RSUs will vest as of the
date of death and all restrictions shall lapse and (ii) all vested RSUs will be immediately transferable to the named beneficiary or,
if none, to the Participant’s estate.


 


10.             
Rights as Shareholder. The Participant shall have no rights as a shareholder of the Company in respect to the RSUs until
and unless the RSUs have vested and ownership of Shares represented by the RSUs have been transferred to (or on behalf of) the Participant.


 






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11.             
 Transferability. Except to the extent provided in the Plan in the case of the Participant’s death, the RSUs may
neither be made subject to any encumbrance nor transferred by means of sale, assignment, exchange, pledge, or otherwise.


 


12.             
Extraordinary Item. By voluntarily acknowledging and accepting this Award, the Participant acknowledges and understands
that the RSUs are not part of normal or expected compensation or salary for any purposes, including, without limitation, calculating any
severance, resignation, termination, redundancy, end of service payments, bonuses, service-based awards, pension or retirement benefits
or similar payments.


 


13.             
No Guarantee of Continued Service. The Participant acknowledges and agrees that the vesting of RSUs pursuant to the
Award Agreement is earned only by continuing as an employee of the Company or an Affiliate. The Participant further acknowledges and agrees
that nothing in the Award Agreement, nor in the Plan which is incorporated in this Award Agreement by reference, shall confer upon the
Participant any right with respect to continuation as an employee with the Company or an Affiliate, nor shall it interfere in any way
with her right or the Company’s right to terminate the Participant’s employment relationship as per the terms of the Employment
Agreement.


 


14.             
Consent to Transfer Personal Data. By entering into this Agreement, the Participant: (i) authorizes the Company and
each of its Affiliates, and any agent of the Company or any subsidiary or affiliate administering the Plan or providing Plan recordkeeping
services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request
in order to facilitate the grant of RSUs and the administration of the Plan; and (ii) authorizes the Company and each Affiliate to store
and transmit such information in electronic form for the purposes set forth in this Agreement.


 


15.             
Amendment. The terms and provisions of this Agreement may be modified or amended as provided in the Plan.


 


16.             
Severability. If any provision of this Agreement is held to be invalid, illegal, or unenforceable by appropriate authority
under the law of any jurisdiction applicable to this Agreement, the same shall not affect, in any respect whatsoever, the validity, legality,
or enforceability of any other provision of this Agreement, and this Agreement shall continue, to the fullest extent permitted by law,
as if such invalid, illegal, or unenforceable provision were omitted and/or modified by such appropriate authority so as to preserve its
validity, legality, or enforceability, unless such omission or modification would substantially impair the rights or benefits under this
Agreement of the Participant or the Company.


 


17.             
Recoupment of Award. If the RSUs or any cash or share payment the Participant receives pursuant to this Agreement are
subject to recovery under any law, government regulation or stock exchange listing requirement, the RSUs, and the cash or share payment,
shall be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange
listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement)
and the Board of Directors in its reasonable good faith discretion consistent with any such requirement, may require that Participant
reimburse the Company all or part of any payment or transfer related to this Award, the RSUs and any cash or share payment.


 






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18.             
 Construction. A copy of the Plan has been given to the Participant. To the extent that any provisions of this Agreement
violates or is inconsistent with any provisions of the Plan, the Plan provisions shall govern and any inconsistent provisions in this
Agreement shall be of no force or effect. The Participant acknowledges that the Plan may be amended, prospectively or retroactively in
order to comply with the requirements of the Internal Revenue Code, and the Participant agrees to comply with the terms of the Plan as
so amended from time to time.


 


19.             
Interpretations. Any dispute, disagreement or question which arises under, or as a result of, or in any way relates
to the interpretation, construction or application of the terms of this Agreement or the Plan will be determined and resolved by the Committee
or its authorized delegate. Such determination or resolution by the Committee or its authorized delegate will be final, binding and conclusive
on all persons for all purposes.


 


20.             
Successors and Assigns. This Agreement shall be binding upon and, subject to the conditions hereof, inure to the benefit
of the Company, its successors and assigns, and the Participant and his successors and assigns.


 


21.             
Entire Understanding. This Agreement embodies the entire understanding and agreement of the parties in relation to the
subject matter hereof, and no promise, condition, representation or warranty, expressed or implied, not herein stated, shall bind either
party hereto.


 


22.             
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of England and Wales, without
giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the
parties hereby consent to exclusive jurisdiction in New York and agree that such litigation shall be conducted in the state courts of
New York, New York or the federal courts of the United States for the District of New York.


 


23.             
Satisfaction of Sign-On Grant. By signing below, the Participant agrees and acknowledges that this Award satisfies the
Company’s obligation to issue the Sign-On Grant (as defined in Section 4.3(b)(i) of the Employment Agreement) and that this form
of award agreement shall be used to satisfy the Company’s obligation to issue Incremental Grant 1 and Incremental Grant 2 (as such
terms are defined under the Employment Agreement) to the extent provided in Section 4.3(b)(ii) and (iii) therein, as applicable.


 


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IN WITNESS WHEREOF, THE
PARTIES HERETO HAVE CAUSED TIDS AGREEMENT TO BE EXECUTED EFFECTIVE AS OF THE GRANT DATE.


 


	PARTICIPANT	 	AKARI THERAPEUTICS, PLC
	 	 	 
	/s/ Rachelle Jacques	 	/s/ Ray Prudo
	Signature	 	Signature
	 	 	 
	Name: Rachelle Jacques	 	Name: Ray Prudo
	 	 	 
	Address:
     on file with the company	 	Title:
     Chairman


 






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