Exhibit
10.1


 


Employee Stock Option
Award Agreement


Granted Under OpGen,
Inc. 2022 INDUCEMENT GRANT STOCK OPTION PLAN


 


1.Grant
of Option. This certificate evidences a stock option (this “Stock Option”) granted by OpGen, Inc., a Delaware
corporation (the “Company”), on January 3, 2022 (the “Grant Date”), to ___________________
 (the “Holder”), pursuant to the Company’s 2022 inducement grant stock option plan (as from time to time
in effect, the “Plan”). Under this Stock Option, the Holder may purchase, in whole or in part, on the terms herein
provided, a total of ______________ (_______) shares of common stock of the Company (the “Shares”) at $1.08 per Share,
which is equal to the fair market value of the Shares on the Grant Date. The latest date on which this Stock Option, or any part thereof,
may be exercised is January 3, 2022 (the “Final Exercise Date”) subject to earlier termination as provided
in the Plan. If the Holder is an executive Officer, the Stock Option evidenced by this certificate is intended to be, and is hereby designated,
as an incentive stock option as defined in section 422 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”),
to the extent permitted by section 422 of the Code, and a nonstatutory option, that is, an option that does not qualify as an
incentive stock option as defined in section 422 of the Code for the remainder. Defined terms used in this Award Agreement without definition
have the meanings set forth in the Plan.


This Stock Option is
exercisable in the following installments prior to the Final Exercise Date: twenty-five percent (25%) of the shares underlying this Stock
Option on the first anniversary of the Grant Date (the “Vesting Commencement Date”), and six and one-quarter percent
(6.25%) at the end of each quarterly period thereafter.


 


2.Provisions
of the Plan. This Stock Option is subject to the provisions of the Plan, which are incorporated herein by reference. A copy of the
Plan as in effect on the date of the grant of this Stock Option has been furnished to the Holder. By exercising all or any part of this
Stock Option, the Holder agrees to be bound by the terms of the Plan and this certificate. All initially capitalized terms used herein
will have the meaning specified in the Plan, unless another meaning is specified herein.


1.1
Partial Exercise. An exercisable Option may be exercised in whole or in part. However, an Option shall not be exercisable
with respect to fractional Shares and the Administrator may require that, by the terms of the Option, a partial exercise must be with
respect to a minimum number of Shares.


1.2
Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the following
to the Secretary of the Company, the stock plan administrator of the Company or such other person or entity designated by the Administrator,
or his, her or its office, as applicable:


(a)
A written or electronic notice complying with the applicable rules established by the Administrator stating that the Option, or
a portion thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the Option or such
portion of the Option;


(b)
Such representations and documents as the Administrator, in its sole discretion, deems necessary or advisable to effect compliance
with Applicable Law. The Administrator, in its sole discretion, may also take whatever additional actions it deems appropriate to effect
such compliance including, without limitation, placing legends on share certificates and issuing stop-transfer notices to agents and
registrars;


(c)
In the event that the Option shall be exercised pursuant to Section 11.3 by any person or persons other than the Holder, appropriate
proof of the right of such person or persons to exercise the Option, as determined in the sole discretion of the Administrator; and


(d)
Full payment of the exercise price and applicable withholding taxes to the stock plan administrator of the Company for the Shares
with respect to which the Option, or portion thereof, is exercised, in a manner permitted by Sections 11.1 and 11.2.






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1.3
Payment. If the Holder is an executive Officer, the exercise price may be paid by one or more of the following methods:
(a) cash or check, (b) Shares (including Shares issuable pursuant to the exercise of the Option) or Shares held for such period of time
as may be required by the Committee in order to avoid adverse accounting consequences, in each case, having a Fair Market Value on the
date of delivery equal to the aggregate payments required, (c) delivery of a written or electronic notice that the Holder has placed
a market sell order with a broker acceptable to the Company with respect to Shares then issuable upon exercise of the Option, and that
the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate
payments required; provided that payment of such proceeds is then made to the Company upon settlement of such sale, or (d) other
form of legal consideration acceptable to the Committee in its sole discretion. The Committee shall also determine the methods by which
Shares shall be delivered or deemed to be delivered to Holders. 


1.4
Tax Withholding. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require
a Holder to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Holder’s
FICA, employment tax or other social security contribution obligation) required by law to be withheld with respect to any taxable event
concerning a Holder arising as a result of the Plan. The Administrator, in its sole discretion and in satisfaction of the foregoing requirement,
may withhold, or allow a Holder to elect to have the Company withhold, Shares otherwise issuable under an Option (or allow the surrender
of Shares). The number of Shares which may be so withheld or surrendered shall be limited to the number of Shares which have a Fair Market
Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the applicable statutory withholding
rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income
without leading to any avoid adverse accounting consequences. The Administrator shall determine the Fair Market Value of the Shares,
consistent with applicable provisions of the Code, for tax withholding obligations due in connection with a broker-assisted cashless
Option exercise involving the sale of Shares to pay the Option exercise price or any tax withholding obligation.


1.5
Conditions to Issuance of Shares.


(a)
Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make
any book entries evidencing Shares pursuant to the exercise of any Award, unless and until the Board or the Committee has determined,
with advice of counsel, that the issuance of such Shares is in compliance with Applicable Law and the Shares are covered by an effective
registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board
or the Committee may require that a Holder make such reasonable covenants, agreements and representations as the Board or the Committee,
in its sole discretion, deems advisable in order to comply with Applicable Law.


(b)
All share certificates delivered pursuant to the Plan and all Shares issued pursuant to book entry procedures may be subject to
any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with Applicable Law. The
Administrator may place legends on any share certificate or book entry to reference restrictions applicable to the Shares.


(c)
The Administrator shall have the right to require any Holder to comply with any timing or other restrictions with respect to the
settlement, distribution or exercise of any Award, including a window-period limitation, as may be imposed in the sole discretion of
the Administrator.


(d)
Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by Applicable Law,
the Company shall not deliver to any Holder certificates evidencing Shares issued in connection with any Award and instead such Shares
shall be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).


(e)
Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall,
if requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or desirable
to assure compliance with all Applicable Law. To the extent permitted by Applicable Law, the Plan and Awards granted or awarded hereunder
shall be deemed amended to the extent necessary to conform to Applicable Law.






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1.6
Notification Regarding Disposition. The Holder shall give the Company prompt written or electronic notice of any disposition
of Shares acquired by exercise of an Incentive Stock Option which occurs within (a) two years from the date of grant (including the date
the Option is modified, extended or renewed for purposes of Section 424(h) of the Code) of such Option to such Holder, or (b) one year
after the transfer of such Shares to such Holder.


1.7
At-Will Employment; Voluntary Participation. Nothing in the Plan or in any Program or Award Agreement hereunder shall confer
upon any Holder any right to continue in the employ of, or as a Director for, the Company or any Subsidiary, or shall interfere with
or restrict in any way the rights of the Company and any Subsidiary, which rights are hereby expressly reserved, to discharge any Holder
at any time for any reason whatsoever, with or without cause, and with or without notice, or to terminate or change all other terms and
conditions of employment or engagement, except to the extent expressly provided otherwise in a written agreement between the Holder and
the Company or any Subsidiary. Participation by each Holder in the Plan shall be voluntary and nothing in the Plan shall be construed
as mandating that any Eligible Individual shall participate in the Plan. 


1.8
No Stockholders Rights. Except as otherwise provided herein, a Holder shall have none of the rights of a stockholder with
respect to Shares covered by any Award until the Holder becomes the record owner of such Shares.


1.9
Paperless Administration. In the event that the Company establishes, for itself or using the services of a third party,
an automated system for the documentation, granting or exercise of Awards, such as a system using an internet website or interactive
voice response, then the paperless documentation, granting or exercise of Awards by a Holder may be permitted through the use of such
an automated system.


1.10
“Termination of Service” means:


(a)
As to a Non-Employee Director, the time when a Holder who is a Non-Employee Director ceases to be a Director for any reason, including,
without limitation, a termination by resignation, failure to be elected, death or retirement, but excluding terminations where the Holder
simultaneously commences or remains in employment or service with the Company or any Subsidiary.


(b)
As to an Employee, the time when the employee-employer relationship between a Holder and the Company or any Subsidiary is terminated
for any reason, including, without limitation, a termination by resignation, discharge, death, disability or retirement; but excluding
terminations where the Holder simultaneously commences or remains in employment or service as a Consultant or Non-Employee Director with
the Company or any Subsidiary.


The Administrator,
in its sole discretion, shall determine the effect of all matters and questions relating to any Termination of Service, including, without
limitation, the question of whether a Termination of Service resulted from a discharge for “cause” and all questions of whether
particular leaves of absence constitute a Termination of Service; provided, however, that, with respect to Incentive Stock
Options, a leave of absence, change in status from an employee to an independent contractor or other change in the employee-employer
relationship shall constitute a Termination of Service only if, and to the extent that, such leave of absence, change in status or other
change interrupts employment for the purposes of Section 422(a)(2) of the Code and the then-applicable regulations and revenue rulings
under said Section. For purposes of the Plan, a Holder’s employee-employer relationship or consultancy relations shall be deemed
to be terminated in the event that the Subsidiary employing or contracting with such Holder ceases to remain a Subsidiary following any
merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off).


 







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IN WITNESS WHEREOF,
the Company has caused this instrument to be executed by its duly authorized officer.


 


OpGen, Inc.


 


 


Dated:  


_________________________________


By:


Title:


 


 


 


Acknowledged and agreed:


 


Holder


 


 


Dated:  


_________________________________


Name:




 


 


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