Document:

EX-10.6

 Exhibit 10.6 

NONQUALIFIED STOCK OPTION AGREEMENT 

UNDER THE ELECTROCORE, INC. 

2018 OMNIBUS EQUITY COMPENSATION PLAN 

 

					
			
	Name of Grantee:	  	  
	  	(the “Grantee”)
			
	No. of Shares Underlying Options:	  	  
	  	(the “Underlying Shares”)
			
	Grant Date:	  	  
	  	(the “Grant Date”)
			
	Vesting Commencement Date:	  	  
	  	(“Vesting Commencement Date”)
			
	Expiration Date:	  	  
	  	(the “Expiration Date”)
			
	Exercise Price/Share:	  	 $
	  	(the “Exercise Price”)

 Pursuant to the electroCore, Inc. 2018 Omnibus Equity Compensation Plan (the “Plan”), electroCore, Inc., a
Delaware corporation (together with all successors thereto, the “Company”), hereby grants to the Grantee, an Option to purchase, on or prior to the Expiration Date (or such earlier date as provided in Section 3 below), all or any part
of the number of Shares of Common Stock of the Company indicated above (the “Underlying Shares,” with such Shares once issued being referred to herein as “Option Shares”) at the Exercise Price per share indicated above. 

Notwithstanding anything in this Nonqualified Stock Option Agreement (the “Agreement”) to the contrary, this Option and any Option Shares acquired
upon shall be subject to, and governed by, all the terms and conditions of the Plan. To the extent there is any inconsistency between the terms of the Plan and of this Agreement, the terms of the Plan shall control. 

All capitalized terms used in this Agreement and not otherwise defined shall have the respective meanings given such terms in the Plan. 

1. Vesting and Exercisability. Subject to such further limitations as are provided in the Plan and as set forth herein, the
Option shall vest and become exercisable: with respect to 25% of the Underlying Shares on each of the first (1st), second (2nd), third (3rd) and fourth (4th) anniversaries of the Vesting Commencement Date until the Option is fully vested and
exercisable on the fourth (4th) anniversary of the Vesting Commencement Date. 
 2. Exercise of Option. Prior to the
Expiration Date (or such earlier date provided in Section 3 below), the Grantee may exercise this Option by delivering a Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto
indicating his or her election to purchase some or all of the Underlying Shares with respect to which this Option is exercisable at the time of such notice and paying the Exercise Price for the number of Underlying Shares purchased. The Option may
not be exercised for any fractional shares. 
 (a) Termination of Affiliation. Except as the Committee may otherwise expressly
provide, or as may otherwise be expressly provided in any agreement between the Company and the Grantee, if the Grantee has a Termination of Affiliation with the Company and all of its Affiliates, the period within which the Grantee may exercise
this Option may be subject to earlier termination as set forth below: 
  

 (b) Termination of Affiliation Due to Death or Disability. If the Grantee’s
Termination of Affiliation occurs by reason of such Grantee’s death or Disability, this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee or by the Grantee’s legal representative or legatee
for a period of twelve (12) months from the date of such termination or until the Expiration Date, if earlier. 
 (c) Termination for
Cause. If the Grantee has a Termination of Affiliation for Cause (as defined below), all Options (unvested and vested) shall terminate immediately.  

(d) Other Termination. If the Grantee’s Termination of Affiliation occurs for any reason other than death or Disability or Cause,
this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee until the earlier of (i) the date that is three months from the date of the Grantee’s Termination of Affiliation or (ii) the
Expiration Date. 
 (e) Treatment of Unvested Options on Termination of Affiliation. Any portion of this Option that is not
exercisable on the date of the Grantee’s Termination of Affiliation for any reason shall terminate immediately and be null and void and of no further force and effect. 

3. Status of Option. This Option is intended not to qualify as an “incentive stock option” as defined in
Section 422(b) of the Internal Revenue Code of 1986, as amended. 
 4. Withholding Taxes. The Grantee agrees to make
appropriate arrangements with the Company (or the appropriate Affiliate that employed the Grantee) for the satisfaction of all applicable Federal, state, local and foreign income and employment tax withholding requirements, if any, arising in
connection with the exercise of the Option. The Grantee acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver Shares if the Grantee does not deliver or make arrangements to deliver such required withholding
amounts to the Company at the time of exercise. 
 5. Miscellaneous Provisions. 

(a) Change and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Grantee. 

(b) Notices. All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally,
by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the Grantee shall be addressed as set forth underneath their signatures below, or to such other
address or addresses as may have been furnished by such party in writing to the other. 
 (c) Counterparts. For the convenience of the
parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 

[SIGNATURE PAGE FOLLOWS] 

  
 - 2 - 

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to
by the undersigned as of the date first above written. 
  

			
	ELECTROCORE, INC.
		
	By:	 	
                     
                                         
       

		 	Name:
		 	Title:

 The undersigned hereby acknowledges receiving and reviewing a copy of the Plan and understands that the Option granted
hereby is subject to the terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions thereof and of the Plan hereby agreed to, by the undersigned as of the date first above written. 

 

	
	GRANTEE:
	
	  
 Name:

 DESIGNATION OF BENEFICIARY:
                                         
                                         
                                         
  

  
 - 3 - 

 Appendix A 

STOCK OPTION EXERCISE NOTICE 
  

	
	electroCore, Inc.
	Attention: Corporate Secretary
	  

	  

	  

 Pursuant to the terms of the stock option agreement between myself and electroCore, Inc. (the
“Company”) dated                          (the “Agreement”), under the Company’s 2018 Omnibus
Equity Compensation Plan, I, [Insert Name]
                                    , hereby [Circle One]
partially/fully exercise such Option by including herein payment in the amount of $                          representing the
purchase price for [Fill in number of Underlying Shares]                              Option Shares. I have
chosen the following form(s) of payment: 
  

					
	[ ]	  	1.	  	Cash
			
	[ ]	  	2.	  	Personal, certified or bank check payable to electroCore, Inc.
			
	[ ]	  	3.	  	Wire transfer, or
			
	[ ]	  	4.	  	through the sale of Option Shares through a broker-dealer to whom I have submitted an irrevocable notice of exercise and irrevocable instructions to deliver promptly to the Company the amount of sale proceeds sufficient to pay the
exercise price for such Option Shares, together with the amount of federal, state, local or foreign withholding taxes payable by me by reason of such exercise.

  

	
	Sincerely yours,
	
	  

	Name:
	
	Address:EX-10.7

 Exhibit 10.7 

RESTRICTED STOCK UNIT AGREEMENT 

UNDER THE ELECTOCORE, INC. 

2018 OMNIBUS EQUITY COMPENSATION PLAN 

Pursuant to the electroCore, Inc. 2018 Omnibus Equity Compensation Plan (the “Plan”), electroCore, Inc., a Delaware corporation (together
with all successors thereto, the “Company”), hereby enters into this Restricted Stock Unit Agreement with the undersigned employee (the “Grantee”), pursuant to which the Company will issue the number of shares of the
Company’s common stock equal to the number of Restricted Stock Units (“RSU’s”) granted hereunder in accordance with the terms set forth in this agreement (the “Agreement”). 

Notwithstanding anything in this Agreement to the contrary, the grant of the RSUs pursuant to this Agreement and the issuance of shares of the Company’s
common stock in settlement of such RSUs shall be subject to, and governed by, all the terms and conditions of the Plan. To the extent there is any inconsistency between the terms of the Plan and of this Agreement, the terms of the Plan shall
control. 
 All capitalized terms used in this Agreement and not otherwise defined shall have the respective meanings given such terms in
the Plan. 
  

			
	Number of RSUs Granted:	  	[        ]
	Grant Date:	  	[            , 20        ]

 1. General. Each RSU represents a right to receive one share of the Company’s common stock (a
“Share”) in accordance with and subject to the terms and conditions of this Agreement and the Plan. By execution of this Award Agreement, the Grantee agrees to be bound by all of the terms and provisions of the Plan, the rules and
regulations under the Plan adopted from time to time, and the decisions and determinations of the Committee made from time to time. 
 2.
Account for Grantee. The Company shall maintain a bookkeeping account for the Grantee (the “Account”) reflecting the number of RSUs then credited to the Grantee hereunder as a result of such grant of RSUs. 

3. Nontransferability. The Grantee may not transfer RSUs or any rights hereunder to any third party other than by will or
the laws of descent and distribution. 
 4. Vesting and Forfeiture. All RSUs shall vest on the [third] anniversary of
the Grant Date (the “Vesting Date”) if the Grantee remains in continuous service with the Company or an Affiliate through such Vesting Date. If the Grantee has a Termination of Affiliation for any reason prior to the Vesting Date, all
outstanding RSUs granted hereunder shall be forfeited without payment of any consideration and this Agreement shall be of no further force or effect on the date of such forfeiture. 

5. Settlement—Delivery of Shares. The Company shall issue the Shares underlying the outstanding RSUs (if any) that have
vested pursuant to Section 4 to the Grantee (or to the Grantee’s designated beneficiary if the Grantee has died) in settlement of the Grantee’s vested RSUs as soon as reasonably practicable after the Vesting Date. 

 6. Miscellaneous. 

(a) Change and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Grantee. 

(b) Notices. All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally,
by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the Grantee shall be addressed as set forth underneath their signatures below, or to such other
address or addresses as may have been furnished by such party in writing to the other. 
 (c) Counterparts. For the convenience of the
parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 

The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above
written. 
  

			
	ELECTROCORE, INC.
		
	 By:
	 	          

		 	 Name:

		 	 Title:

 
			
		
	Address:	 	  

		 	  

		 	  

 The undersigned hereby acknowledges receiving and reviewing a copy of the Plan and understands that the RSUs granted
herein are subject to the terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions thereof and of the Plan hereby agreed to, by the undersigned as of the date first above written. 

 

			
	GRANTEE:
	
	  

	 Name:

 DESIGNATION OF BENEFICIARY:
                                         
                                         
                                   

  
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