Exhibit 10.12


 


IMMUNOCELLULAR
THERAPEUTICS, LTD.


 


INDEPENDENT
DIRECTOR AGREEMENT


 


Dated
as of April 29, 2022


 


This
Independent Director Agreement (this “Agreement”), dated and made effective as of the date first set forth above (the “Effective
Date”), is entered into by and between ImmunoCellular Therapeutics, Ltd., a Delaware Corporation (“Company”), and ______________,
an individual resident of the State of ____________ (“Director”). The Company and Director may be referred to herein individually
as a “Party” or collectively as the “Parties”.


 


WHEREAS,
the Company has appointed the Director to the Board of Directors of Company (the “Board”) on the Effective Date and now desires
to enter into an agreement with the


Director
with respect to Director’s continuing service as a director of Company; and


 


WHEREAS,
the Director is willing to continue serving as a director of Company upon the terms and conditions set forth herein and in accordance
with the provisions of this Agreement.


 


NOW,
THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged. the Parties hereby agree as follows:


 


	1.	Defined
    Terms. Wherever the following terms are used in this Agreement, they shall have the meanings ascribed to them below, unless the
    context clearly indicates otherwise. Other capitalized terms in this Agreement are defined in the text hereof.


 


	 	(a)	“Affiliate”
    means, with reference to Company, any other Person controlling, controlled by or under the common control of Company. For purposes
    hereof, the term “control” (or any equivalent term) means having ownership of more than fifty percent (50%) of the voting
    securities of a Person or the power, whether through voting power or otherwise, to control the management policies of such Person.
	 	 	 
	 	(b)	“Common
    Stock” means the common stock, par value $0.001 per share, of Company.
	 	 	 
	 	(c)	“Person”
    means any natural person, corporation, company, partnership (including both general and limited partnerships), limited liability
    company, sole proprietorship, association, joint stock company, firm, trust, trustee, joint venture, unincorporated organization,
    executor, administrator, legal representative or other legal entity, including any governmental authority, entity or instrumentality.


 




    	 



    	 



    

 


	2.	Duties.


 


	 	(a)	Director
    agrees to serve as an independent Director of the Company and to be available to perform the duties consistent with such position
    pursuant to the  Certificate of Incorporation and Bylaws of the Company, and any additional codes,  guidelines or policies
    of the Company that may be effective now or in the future (collectively, the “Governance Documents”) and the laws of
    the state of Delaware.  The Company acknowledges that Director currently holds other positions (“Other Employment”)
    and agrees that Director may maintain such positions, provided that such Other Employment shall not materially interfere with Director’s
    obligations under this Agreement. Director confirms that Director expects Director will be able to devote sufficient time and attention
    to the Company as is necessary to fulfill Director’s responsibilities as a Director of the Company and that Director expects
    the Other Employment will not in any way impact Director’s independence, and if Director determines that is no longer the case,
    Director will promptly notify the Company. Such time and attention shall include, without limitation, participation in telephonic
    and/or in-person meetings of the Board; provided, that Director is given reasonable advance notice of such meetings and they are
    scheduled at times when Director is available. Director also represents that the Other Employment shall not materially and unreasonably
    interfere with Director’s obligations under this Agreement. Subject to the forgoing, Director will use Director’s best
    efforts to promote the interests of Company and its shareholders.
	 	 	 
	 	(b)	Without
    limiting the generality of the foregoing, Director confirms that Director is independent (as such term has been construed under Delaware
    law with respect to directors of Delaware corporations and the OTC Markets, the NASDAQ Stock Exchange and the New York Stock Exchange).
    Director also confirms that, to Director’s knowledge, (a) Director does not possess material business, close personal relationships
    or other affiliations, or any history of any such material business, close personal relationships or other affiliations, with the
    Company’s significant equity or debt holders or any of their respective corporate affiliates that would cause Director to be
    unable to (i) exercise independent judgment based on the best interests of the Company or (ii) make decisions and carry out Director’s
    responsibilities as a Director of the Company, in each case in accordance with the terms of the Governance Documents and applicable
    law, and (b) Director has no existing relationship or affiliation of any kind with any entity Director knows to be a competitor of
    the Company.
	 	 	 
	 	(c)	In
    addition to Director’s service on the Board, Director agrees to serve as a member/Chair of the _______________ Committee and
    that, if so selected by the Board in the future, Director shall agree serve as a committee member or Board Liaison to committees
    as necessary, particularly when a disinterested Board Member is required.
	 	 	 
	 	(d)	By
    execution of this Agreement, Director accepts Director’s appointment or election as an independent Director of the Company,
    and agrees to serve in such capacity, subject to the terms of this Agreement, until Director’s successor is duly elected and
    qualified or until Director’s earlier death, resignation or removal. The Parties acknowledge and agree that Director is being
    engaged to serve as an independent Director of the Company only and is not being engaged to serve, and shall not serve, the Company
    in any other capacity.


 




    	 



    	 



    

 


	 	(e)	Director’s
    status during the Term (as defined below) shall be that of an independent contractor and not, for any purpose, that of an employee
    or agent with authority to bind the Company in any respect. All payments and other consideration made or provided to the Director
    hereunder shall be made or provided without withholding or deduction of any kind, and the Director shall assume sole responsibility
    for discharging all tax or other obligations associated therewith.


 


	3.	Term.
    The term of this Agreement shall continue until the earliest of (a) such time as Director resigns or is removed in accordance with
    the Governance Documents, and (b) the death of the Director (the “Term”).
	 	 
	4.	Compensation.
    For all services to be rendered by Director hereunder, and so long as Director remains a Director of the Company, the Company shall,
    during the Term, pay to Director the compensation and reimbursement of expenses as set forth in this Section 3.


 


	 	(a)	Director
    shall be paid the sum of $30,000 annually for Director’s service as a director of the Company, to be paid $7,500 each calendar
    quarter, payable within 5 business days of the end of each calendar quarter, and with such amount for any partial calendar quarter
    being appropriately prorated.
	 	 	 
	 	(b)	Director
    shall be paid the following compensation for service on committees of the Board:


 


	 	(i)	For
    as long as the Director serves as a member of a Committee, the Director shall be paid the sum of $5,000 annually for such service,
    to be paid $1,250 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and with such amount
    for any partial calendar quarter being appropriately prorated.
	 	 	 
	 	(ii)	For
    as long as the Director serves as the Chairman of a Committee, the Director shall be paid an additional sum of $10,000 annually for
    such service, to be paid $2,500 each calendar quarter, payable within 5 business days of the end of each calendar quarter, and with
    such amount for any partial calendar quarter being appropriately prorated.


 


	 	(c)	Prior
    to the date the Company is approved for trading on the Nasdaq or other National Stock Exchange, the Company shall issue to Director
    an option to acquire up to ___________ shares of the Common Stock at an exercise price per share equal to the closing price of the
    Company’s Common Stock on the first day of trading (subject to customary adjustments), which options shall vest ratably over
    36 months subject to the Director continuing to serve as a director of the Corporation during such period (the “Option Grant”),
    pursuant to the Option Award Agreement in the form as attached hereto as Exhibit A (the “Option Award”).
	 	 	 
	 	(d)	During
    the Term, Company shall reimburse Director for all reasonable and necessary out-of pocket expenses incurred by Director in attending
    any in-person meetings, provided that Director complies with the generally applicable policies, practices and procedures of the Company
    for submission of expense reports, receipts or similar documentation of such expenses. Any reimbursements for allocated expenses
    (as compared to out-of-pocket expenses of the Director in excess of $500.00) must be approved in advance by the Company.


 




    	 



    	 



    

 


	5.	Ownership
    & Protection of Company Property.


 


	 	(a)	Ownership;
    Results of Services. Company shall own, and Director hereby assigns and agrees to fully disclose and convey to Company, all of
    Director’s right, title and interests, of every kind and character and in perpetuity, in and to the results of Director’s
    services to Company as contemplated hereunder, including all tangible and intangible property, material, information. ideas, concepts,
    improvements, discoveries, and inventions, whether patentable or not, that are conceived, generated, developed, or made by Director,
    individually or in conjunction with others, during the period of Director’s services to Company (whether during business hours
    or otherwise and whether on Company’s premises or otherwise) which relate in any way to Company’s business, technologies,
    operations, products or services, including (1) all rights and interests of Director in any invention, patent or patent rights, trademark
    and other intellectual property, including a waiver by Director of rights granted under the (U.S.) Artists Visual Rights Act, (2)
    printed or digitally generated or stored files, notes, memoranda, correspondence, lists, documents and other corporate instruments
    and records, (3) information relating to or including any Confidential Information (as defined below), and (4) all writings or materials
    of any type, whether printed or in digital format or otherwise, embodying any of the foregoing property, material or information.
	 	 	 
	 	(b)	Work
    for Hire; Assignments. The services performed by Director for Company shall constitute “work for hire” and the results
    of such services or work shall be owned by Company. Director agrees to execute and deliver to Company such assignments or other instruments
    as Company may require from time to time to evidence Company’s ownership of the results, work product and proceeds of all such
    services and work performed by Director hereunder.
	 	 	 
	 	(c)	Return
    of Company Property. Upon any termination of this Agreement or cessation of Director’s services to Company, Director shall
    immediately return to Company all property (including both tangible and intangible property) that is considered the property of Company,
    including keys, records, employee badges, entry cards, records, notes, data, models, memoranda, and other documents, equipment or
    information or data (including Confidential Information) that are in the possession, custody or control of Director (or any person
    acting with or at the behest of Director), whether in physical, electronic or digital form, or otherwise, and whether or not such
    property was conceived, developed, generated or made by Director or by others. Under no circumstances shall Director be entitled
    to replicate or reproduce, or retain copies of, any of the property of Company following termination, resignation or cessation of
    Director’s services to Company as contemplated under this Agreement.


 




    	 



    	 



    

 


	 	(d)	Certification.
    Director shall, upon any termination, resignation or cessation of Director’s services to Company, certify to Company in writing
    that Director has returned to Company all property of Company as required hereunder and that no copies, replicas or reproductions
    of any such property have been retained by Director or by any other Person acting with or at the behest of Director or to whom or
    which such materials may have been disclosed or delivered by Director at any time.


 


	6.	Confidentiality.


 


	 	(a)	Confidential
    Information. Each Party acknowledges and agrees that, as a result of and during the services provided by Director as a member
    of the Board, Director will acquire, develop or participate in developing, or otherwise have access to nonpublic information, data
    and other matters that are considered highly confidential to Company and that are the property of Company or are licensed by Company
    from other Persons, including all of the following (collectively, the “Confidential Information”):


 


	 	(i)	inventions,
    ideas, discoveries, methods and methodologies, processes, products, product designs, technical information, know-how, copyrights
    and works of authorship, drawings, schematics, and supplier, client and customer lists, prices and costs;
	 	 	 
	 	(ii)	information
    technology, systems, processes, designs, platforms and software, including code, algorithms and other components of any software;
	 	 	 
	 	(iii)	studies,
    analyses, strategic and tactical plans, marketing plans and surveys, maps, photographs and other media and image recordings, and
    point-of services locations and information;
	 	 	 
	 	(iv)	corporate,
    business, financial, accounting, legal and regulatory information, data and records generated maintained by or for Company (including
    drafts, reproductions and copies thereof), including organizational charts, shareholder lists, meetings, minutes and resolutions,
    personnel files and personal privacy data, contracts, agreements, notes, debentures, security instruments, finance and financing
    instruments and documents, real and personal property leases, licenses and other commercial transaction documents and records; and
	 	 	 
	 	(v)	information
    considered a “trade secret” under the (U.S.) Defend Trade Secrets Act (Pub. L. No. 114-153, 130 Stat. 376, codified in
    Title 18, United States Code) and/or under other State laws.


 




    	 



    	 



    

 


	 	(b)	Material
    Non-Public Information. For purposes of this Agreement, and except as provided below, “Material Non-Public Information”
    shall mean any information obtained by the Director hereunder, whether otherwise constituting Confidential Information or not, with
    respect to which there is a substantial likelihood that a reasonable investor would consider such information important or valuable
    in making any of his, her or its investment decisions or recommendations to others with respect to the Company or any of its equity
    securities or debt, or any derivatives thereof, or information that is reasonably certain to have a substantial effect on the price
    of the Company’s securities or debt, or any derivatives thereof, whether positive or negative.
	 	 	 
	 	(c)	Restrictions.
    


 


	 	(i)	During
    the Term of this Agreement and for a period of five (5) years thereafter the Director agrees to use the Confidential Information
    only for the purpose of fulfilling Director’s obligations hereunder (the “Purpose”) and shall use reasonable care
    not to disclose Confidential Information to any non-affiliated third party, such care to be at least equal to the care exercised
    by Director as to Director’s own Confidential Information, which standard of care shall not be less than the current industry
    standard in effect as of the date of such receipt. Director agrees that it shall make disclosure of any such Confidential Information
    only to employees (including temporary and leased employees subject to a confidentiality obligation), officers, directors, attorneys
    and wholly owned subsidiaries (collectively, “Representatives”), to whom disclosure is reasonably necessary for the Purpose.
    Director shall appropriately notify such Representatives that the disclosure is made in confidence and shall be kept in confidence
    in accordance with this Agreement. Director shall be responsible for the failure of Director’s representatives or agents to
    comply with the terms of this Agreement.
	 	 	 
	 	(ii)	In
    addition, Director agrees that, for as long as any information, including Confidential Information, continues to meet the definition
    of Confidential Information as set forth herein, Director shall not (1) buy or sell any securities or derivative securities of or
    related to the Company, or any interest therein or (2) undertake any actions or activities that would reasonably be expected to result
    in a violation of the Securities Act of 1933, as amended, or the rules and regulations thereunder, or of the Securities Exchange
    Act of 1934, as amended, including, without limitation, Section 10(b) thereunder, or the rules and regulations thereunder, including,
    without limitation, Rule 10b-5 promulgated thereunder.
	 	 	 
	 	(iii)	Without
    the prior consent of the Company, the Director shall not remove any proprietary, copyright, trade secret or other protective legend
    from the Confidential Information.
	 	 	 
	 	(iv)	Director
    acknowledges that the Confidential Information disclosed hereunder may constitute “Technical Data” and may be subject
    to the export laws and regulations of the United States. Director agrees it will not knowingly export, directly or indirectly, any
    Confidential Information or any direct product incorporating any Confidential Information, whether or not otherwise permitted under
    this Agreement, to any countries, agencies, groups or companies prohibited by the United States Government unless proper authorization
    is obtained.


 




    	 



    	 



    

 


	 	(v)	Nothing
    herein shall be construed as granting to Director or Director’s affiliates any right or license to use or practice any of the
    information defined herein as Confidential Information and which is subject to this Agreement as well as any trade secrets, know-how,
    copyrights, inventions, patents or other intellectual property rights now or hereafter owned or controlled by the of the Company.
    Except as allowed by applicable law, Director shall not use any tradename, service mark or trademark of the of the Company or refer
    to the of the Company in any promotional or sales activity or materials without first obtaining the prior written consent of the
    Company.


 


	 	(d)	Exceptions.
    The obligations imposed in this Agreement shall not apply to any information that:


 


	 	(i)	was
    already in the possession of Director at the time of disclosure without restrictions on its use or is independently developed by
    Director after the effective date of this Agreement, provided that the person or persons developing same have not used any information
    received from the Company in such development, or is rightfully obtained from a source other than from the Company;
	 	 	 
	 	(ii)	is
    in the public domain at the time of disclosure or subsequently becomes available to the general public through no fault of Director;
	 	 	 
	 	(iii)	is
    obtained by Director from a third person who is under no obligation of confidence to the Company;
	 	 	 
	 	(iv)	is
    disclosed without restriction by the Company; or
	 	 	 
	 	(v)	is
    disclosed pursuant to the order of a court or administrative body of competent jurisdiction or a government agency, provided that
    Director shall notify the Company prior to such disclosure and shall cooperate with the Company in the event the Company elects to
    legally contest, request confidential treatment, or otherwise avoid such disclosure.


 


	 	(e)	Return
    of Confidential Information. Upon termination of this Agreement for any reason or upon request by the Company made at any time,
    all Confidential Information, together with any copies of same as may be authorized herein, shall be returned to the Company, or
    destroyed and certified as such by an officer of Director. Director may retain one copy of all written Confidential Information for
    Director’s files for reference in the event of a dispute hereunder.


 




    	 



    	 



    

 


	 	(f)	Ownership
    of Confidential Information. As between the Company and Director, the Confidential Information and any Derivative thereof (as
    defined below), whether created by the Company or the Director, will remain the property of the Company. For purposes of this Agreement,
    “Derivative” shall mean: (i) for copyrightable or copyrighted material, any translation, abridgement, revision or other
    form in which an existing work may be recast, transformed or adapted, and which constitutes a derivative work under the Copyright
    laws of the United States; (ii) for patentable or patented material, any improvement thereon; and (iii) for material which is protected
    by trade secret, any new material derived from such existing trade secret material, including new material which may be protected
    by copyright, patent and/or trade secret.
	 	 	 
	 	(g)	Request
    for Confidential Information Pursuant to Court or Other Proceeding. If Director is requested or required (by oral questions,
    deposition, interrogatories, subpoena, civil investigative demand or other similar non-criminal process) to disclose any Confidential
    Information supplied to Director under this Agreement, the Director will provide the Company with prompt written notice of such request(s)
    so that the Company may, at the Company’s option, (a) seek an appropriate protective order; (b) consult with the Director on
    the advisability of taking steps to resist or narrow such request or requirement; or (c) waive in writing the Director’s compliance
    with the provisions of this Agreement for the sole purpose of complying with the request. If, in the absence of a protective order
    or the receipt of a written waiver hereunder, the Director is nonetheless, in the reasonable opinion of Director’s counsel,
    compelled to disclose Confidential Information to any governmental tribunal or else stand liable for contempt or suffer other censure
    or penalty, the Director will cooperate with the Company at the Company’s expense in any attempt that the Company may make
    to obtain an order or other reliable assurance that confidential treatment will be provided by such tribunal for all or designated
    portions of such Confidential Information disclosed by the Company.
	 	 	 
	 	(h)	No
    License. Nothing in this Agreement shall be construed as granting any right or license to the Director or any other Person, by
    implication or otherwise, with respect to any Confidential Information, except for the limited purposes set forth above.
	 	 	 
	 	(i)	Notice.
    In accordance with the (U.S.) Defend Trade Secrets Act, Company hereby provides to Director the following notice of immunity protection
    available thereunder:


 


“An
individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret
that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law. An individual shall not be held criminally or civilly liable under any Federal or State trade
secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation
of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding,
if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant
to court order.”


 




    	 



    	 



    

 


	7.	Director’s
    Representation and Acknowledgment. Director represents to the Company that Director’s execution and performance of this
    Agreement shall not be in violation of any agreement or obligation (whether or not written) that Director may have with or to any
    person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this
    Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director
    shall have no recourse whatsoever against any shareholder of Company or any of any of its affiliate or subsidiary companies with
    respect to any matter arising under this Agreement.
	 	 
	8.	Governing
    Law; Consent to Jurisdiction; Waiver of Jury Trial.


 


(a)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be
governed by and construed and enforced in accordance with the internal laws of the State of Arkansas without regard to the
principles of conflict of laws thereof.


 


(b)
Consent to Jurisdiction. Each Party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the
transactions contemplated by this Agreement (whether brought against a Party or its respective affiliates, directors, officers,
shareholders, employees or agents) shall be commenced in the state and federal courts sitting in New York County, New York (the
“Selected Courts”). Each Party hereby irrevocably submits to the exclusive jurisdiction of the Selected Courts for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein
(including with respect to the enforcement of any of this Agreement), and hereby irrevocably waives, and agrees not to assert in any
suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such Selected Courts, or such
Selected Courts are improper or inconvenient venue for such proceeding. Each Party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or
certified mail or overnight delivery (with evidence of delivery) to such Party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. If any Party
shall commence an action or proceeding to enforce any provisions of this Agreement, then the prevailing Party in such action or
proceeding shall be reimbursed by the other Party for its attorneys’ fees and other costs and expenses incurred in the
investigation, preparation and prosecution of such action or proceeding.


 




    	 



    	 



    

 


(c) Waiver
of Jury Trial. EACH OF THE PARTIES HEREIRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF
THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, ABIDE BY THE
FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES
MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH OF THE PARTIES HAS ENTERED INTO THIS AGREEMENT FREELY AND FULLY UNDERSTANDS THE WAIVER
IN THIS SECTION 8(c).


 


	9.	Notices.
    All notices under this Agreement shall be in writing. Notices may be served by certified or registered mail, postage paid with return
    receipt requested; by private courier, prepaid; by other reliable form of electronic communication; or personally. Mailed notices
    shall be deemed delivered five (5) days after mailing, properly addressed. Couriered notices shall be deemed delivered on the date
    that the courier warrants that delivery will occur. Electronic communication notices shall be deemed delivered when receipt is either
    confirmed by confirming transmission equipment or acknowledged by the addressee or its office. Personal delivery shall be effective
    when accomplished. Any Party may change its address by giving notice, in writing, stating its new address, to the other Party. Subject
    to the forgoing, notices shall be sent as to the addresses for notices as set forth on the signature page of this Agreement or as
    subsequently modified by written notice by a Party to the other Party.
	 	 
	10.	General
    Provisions.


 


	 	(a)	Amendment,
    Waiver & Termination. No amendment, modification, supplement, termination or cancellation of this Agreement shall be effective
    unless it is in writing and signed by each Party. No waiver of any of the provisions of this Agreement shall be deemed to be or shall
    constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver.
	 	 	 
	 	(b)	Headings.
    The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.
	 	 	 
	 	(c)	Remedies.
    Each Party agrees that any breach by a Party of the terms hereunder will result in irreparable and continuing damages to the other
    Party for which there will be no adequate remedy at law. Accordingly, each Party agrees that, in addition to any other remedies available
    at law, each Party shall be entitled to obtain an injunction or other equitable relief, including, without limitation, specific performance,
    without proof of actual damages or exhausting other remedies, in addition to all other remedies available to the Parties at law or
    in equity, against a threatened or continuing breach of this Agreement by any Party without the necessity of proving actual damages.


 




    	 



    	 



    

 


	 	(d)	Integration;
    Entirety. This Agreement and the Option Award set forth the entire understanding between the Parties and supersede and merge
    all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
    the Parties.
	 	 	 
	 	(e)	No
    Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties and their respective successors and permitted
    assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable
    right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
	 	 	 
	 	(f)	Further
    Assurances. Each Party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute
    and deliver all such other agreements, certificates, instruments and documents, as the other Party may reasonably request in order
    to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.
	 	 	 
	 	(g)	Severability.
    In the event that any provision contained in this Agreement (including any provision within a single section, paragraph or sentence)
    is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions shall remain
    enforceable to the fullest extent permitted by law. In connection therewith, and to the fullest extent possible, the provisions of
    this Agreement (including each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable
    that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the Parties
    in the provision held invalid, illegal or unenforceable.
	 	 	 
	 	(h)	Assignment.
    Neither Party may assign this Agreement without the prior written consent of the other. This Agreement shall be binding upon and
    shall inure to the benefit of the Parties and their respective successors and permitted assigns. No Party shall have any power or
    any right to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of its obligations hereunder, including,
    without limitation, any right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated herein,
    or to pursue any claim for any breach or default of this Agreement, or any right arising from the purported assignor’s due
    performance of its obligations hereunder, without the prior written consent of each of the other Parties and any such purported assignment
    in contravention of the provisions herein shall be null and void and of no force or effect.
	 	 	 
	 	(i)	Counterparts.
    This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which shall
    constitute the same agreement. The Parties’ exchange and delivery of this Agreement and of signature pages by facsimile transmission,
    portable document format (.pdf) or other electronic format shall be deemed to be their original signatures for all purposes.


 


[Signatures
appear on following page]


 




    	 



    	 



    

 


IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.





 


	 	 	ImmunoCellular
    Therapeutics, Ltd.
	 	 	 	 
	 	 	By:	                                
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	 	Address
    for notices:
	 	 	 
	 	 	ImmunoCellular
    Therapeutics, Ltd.
	 	 	Attn:
    Wayne I. Danson
	 	 	136
    Summit Avenue
	 	 	Montvale, NJ 07645
	 	 	Email:
    wayned@eompharma.com 
	 	 	 
	 	 	 
	 	 	Wayne
    I. Danson
	 	 	 
	Address
    for notices:	 	 
	 	 	 
	 	 	Or
    via email to the email address provided to the Company.





 






    	 



    	 



    

 


Exhibit
A


Option
Award Agreement


 


 (Attached)