Document:

EX-4.(ff)

 Exhibit 4(ff) 

 
  

 
 GUARANTEE AGREEMENT

 by and between 
 FIFTH THIRD BANCORP 
 as Guarantor 

and 
 WILMINGTON
TRUST COMPANY 
 as Guarantee Trustee 
 relating to 
 FIFTH THIRD CAPITAL TRUST • 

 
  

Dated as of •, 20• 
  

 
  

 
  

 TABLE OF CONTENTS 

 

					
	 ARTICLE I DEFINITIONS
	  	 	1	  
		
	 Section 1.1. Definitions
	  	 	1	  
		
	 ARTICLE II TRUST INDENTURE ACT
	  	 	4	  
		
	 Section 2.1. Trust Indenture Act; Application
	  	 	4	  
	 Section 2.2. List of Holders
	  	 	4	  
	 Section 2.3. Reports by the Guarantee Trustee
	  	 	4	  
	 Section 2.4. Periodic Reports to the Guarantee Trustee
	  	 	5	  
	 Section 2.5. Evidence of Compliance with Conditions Precedent
	  	 	5	  
	 Section 2.6. Events of Default; Waiver
	  	 	5	  
	 Section 2.7. Event of Default; Notice
	  	 	5	  
	 Section 2.8. Reserved
	  	 	5	  
		
	 ARTICLE III POWERS, DUTIES AND RIGHTS OF
THE GUARANTEE TRUSTEE
	  	 	6	  
		
	 Section 3.1. Powers and Duties of the Guarantee Trustee
	  	 	6	  
	 Section 3.2. Certain Rights of Guarantee Trustee
	  	 	7	  
	 Section 3.3. Compensation; Indemnity; Fees
	  	 	8	  
		
	 ARTICLE IV GUARANTEE TRUSTEE
	  	 	9	  
		
	 Section 4.1. Guarantee Trustee; Eligibility
	  	 	9	  
	 Section 4.2. Appointment, Removal and Resignation of the Guarantee Trustee
	  	 	10	  
		
	 ARTICLE V GUARANTEE
	  	 	10	  
		
	 Section 5.1. Guarantee
	  	 	10	  
	 Section 5.2. Waiver of Notice and Demand
	  	 	11	  
	 Section 5.3. Obligations Not Affected
	  	 	11	  
	 Section 5.4. Rights of Holders
	  	 	12	  
	 Section 5.5. Guarantee of Payment
	  	 	12	  
	 Section 5.6. Subrogation
	  	 	12	  

					
	 Section 5.7. Independent Obligations
	  	 	12	  
		
	 ARTICLE VI COVENANTS AND SUBORDINATION
	  	 	13	  
		
	 Section 6.1. Subordination
	  	 	13	  
	 Section 6.2. Pari Passu Guarantees
	  	 	13	  
	 Section 6.3. Right of Direct Action
	  	 	13	  
		
	 ARTICLE VII TERMINATION
	  	 	13	  
		
	 Section 7.1. Termination
	  	 	13	  
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	14	  
		
	 Section 8.1. Successors and Assigns
	  	 	14	  
	 Section 8.2. Amendments
	  	 	14	  
	 Section 8.3. Notices
	  	 	14	  
	 Section 8.4. Benefit
	  	 	15	  
	 Section 8.5. Governing Law
	  	 	15	  
	 Section 8.6. Counterparts
	  	 	15	  

 GUARANTEE AGREEMENT, dated as of
    •, 20• between FIFTH THIRD BANCORP, an Ohio corporation (the “Guarantor”), having its principal office at 38 Fountain Square Plaza,
Cincinnati, Ohio 45263 and WILMINGTON TRUST COMPANY, as trustee (the “Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of
the Preferred Securities (as defined herein) of FIFTH THIRD CAPITAL TRUST •, a Delaware statutory trust (the “Issuer Trust”). 

RECITALS OF THE GUARANTOR 

WHEREAS, pursuant to an Amended and Restated Declaration of Trust, dated the date hereof (the “Amended
Declaration”), among Fifth Third Bancorp, as Sponsor, Wilmington Trust Company, as Property Trustee, Wilmington Trust Company, as Delaware Trustee, and the Administrative Trustees named therein, the Issuer Trust is issuing up to $•
aggregate Liquidation Amount (as defined in the Amended Declaration) of its •% Perpetual Preferred Trust Certificates (liquidation amount $• per Preferred Security) (the “Preferred Securities”), representing preferred
undivided beneficial interests in the assets of the Issuer Trust and having the terms set forth in the Amended Declaration; and 

WHEREAS, the Preferred Securities will be issued by the Issuer Trust and the proceeds thereof, together with the proceeds
from the issuance of the Issuer Trust’s Common Securities (as defined herein), will be used to purchase Series • Preferred Shares (as defined in the Amended Declaration) of the Guarantor, which Series • Preferred Shares will be
deposited with Wilmington Trust Company, as Property Trustee under the Amended Declaration, as trust assets; and 

WHEREAS, as an incentive for the Holders to purchase Preferred Securities, the Guarantor desires irrevocably and
unconditionally to agree, to the extent set forth herein, to pay to the Holders of the Preferred Securities the Guarantee Payments (as defined herein) and to make certain other payments on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the purchase of Preferred Securities by each Holder, which purchase the
Guarantor hereby acknowledges shall benefit the Guarantor, the Guarantor executes and delivers this Guarantee Agreement for the benefit of the Holders from time to time. 
 ARTICLE I 
 DEFINITIONS 

Section 1.1. Definitions. 
 For all purposes of this Guarantee Agreement, except as otherwise expressly provided or unless the context otherwise requires: 

(a) The terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well
as the singular; 
 (b) The words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”; 
 (c) All accounting terms not otherwise
defined herein have the meanings assigned to them 

 
in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder
shall mean such accounting principles that are generally accepted in the United States at the date or time of such computation; provided that when two or more principles are so generally accepted, it shall mean that set of principles
consistent with those in use by the Guarantor; 
 (d) Unless the context otherwise requires, any reference to an
“Article” or a “Section” refers to an Article or a Section, as the case may be, of this Guarantee Agreement; and 
 (e) The words “hereby”, “herein”, “hereof” and “hereunder” and other words of similar import refer to this Guarantee Agreement as a whole and not to any particular
Article, Section or other subdivision. 
 “Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control”, when used with respect to any specified Person, means the
power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing. 
 “Amended Declaration” means the Amended and Restated Declaration of
Trust of the Issuer Trust referred to in the recitals to this Guarantee Agreement, as modified, amended or supplemented from time to time. 
 “Authorized Officer” of any Person means any officer of such Person or any person authorized by or pursuant to a resolution of the Board of Directors (or equivalent body) of such Person.

 “Board of Directors” means the board of directors of the Guarantor or any committee of that board duly
authorized to act hereunder. 
 “Common Securities” means the securities representing common undivided
beneficial interests in the assets of the Issuer Trust. 
 “Distributions” has the meaning specified in the
Amended Declaration. 
 “Event of Default” means (i) a default by the Guarantor in any of its payment
obligations under this Guarantee Agreement or (ii) a default by the Guarantor in any other obligation hereunder that remains unremedied for 30 days. 
 “Guarantee Agreement” means this Guarantee Agreement, as modified, amended or supplemented from time to time. 
 “Guarantee Payments” means the following payments or distributions, without duplication, with respect to the Preferred Securities, to the extent not paid or made by or on behalf of the
Issuer Trust: (i) any accumulated and unpaid Distributions required to be paid on the Preferred Securities, to the extent the Issuer Trust shall have funds on hand available therefor at such time; (ii) the Redemption Price (as defined in
the Amended Declaration) with respect to any Preferred Securities called for redemption by the Issuer Trust, to the extent the Issuer Trust shall have funds on hand available therefor at such time; and

  
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(iii) upon a voluntary or involuntary termination, winding-up or liquidation of the Issuer Trust, unless Series • Preferred Shares are distributed to the Holders, the lesser of (a) the
Liquidation Distribution (as defined in the Amended Declaration) with respect to the Preferred Securities, to the extent that the Issuer Trust shall have funds on hand available therefor at such time, and (b) the amount of assets of the Issuer
Trust remaining available for distribution to Holders on liquidation of the Issuer Trust. 
 “Guarantee
Trustee” means Wilmington Trust Company, solely in its capacity as Guarantee Trustee and not in its individual capacity, until a Successor Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this
Guarantee Agreement, and thereafter means each such Successor Guarantee Trustee. 
 “Guarantor” has the meaning
specified in the first paragraph of this Guarantee Agreement. 
 “Holder” means any Holder (as defined in the
Amended Declaration) of any Preferred Securities; provided, however, that in determining whether the holders of the requisite percentage of Preferred Securities have given any request, notice, consent or waiver hereunder,
“Holder” shall not include the Guarantor, the Guarantee Trustee, or any Affiliate of the Guarantor or the Guarantee Trustee. 
 “Indemnified Person” has the meaning specified in Section 3.3(c). 
 “Issuer Trust” has the meaning specified in the first paragraph of this Guarantee Agreement. 
 “Liquidation Distribution” has the meaning specified in the Amended Declaration. 
 “List of Holders” has the meaning specified in Section 2.2(a). 
 “Majority in Liquidation Amount of the Preferred Securities” means Preferred Securities representing more than 50% of the aggregate Liquidation Amount (as defined in the Amended
Declaration) of all Preferred Securities then Outstanding (as defined in the Amended Declaration). 
 “Officers’
Certificate” means, with respect to any Person, a certificate signed by any two Authorized Officers of such person. Any Officers’ Certificate delivered with respect to compliance with a condition or covenant provided for in this
Guarantee Agreement shall include: 
 (a) a statement by each officer signing the Officers’ Certificate that such officer
has read the covenant or condition and the definitions relating thereto; 
 (b) a brief statement of the nature and scope of the
examination or investigation undertaken by such officer in rendering the Officers’ Certificate; 
 (c) a statement that such
officer has made such examination or investigation as, in such officer’s opinion, is necessary to enable such officer to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether, in the opinion of such officer, such condition or covenant has been complied with. 

“Person” means a legal person, including any individual, corporation, estate, partnership, joint

  
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venture, association, joint-stock company, company, limited liability company, trust, business trust, statutory trust, unincorporated association, or government or any agency or political
subdivision thereof, or any other entity of whatever nature. 
 “Preferred Securities” has the meaning
specified in the recitals to this Guarantee Agreement. 
 “Successor Guarantee Trustee” means a successor
Guarantee Trustee possessing the qualifications to act as Guarantee Trustee under Section 4.1. 
 “Trust Indenture
Act” means the Trust Indenture Act of 1939 as in force at the date as of which this Guarantee Agreement was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust
Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

ARTICLE II 

TRUST INDENTURE ACT 
 Section 2.1. Trust Indenture Act; Application. 
 This
Guarantee Agreement is not subject to the provisions of the Trust Indenture Act. 
 Section 2.2. List of Holders.

 (a) The Guarantor shall furnish or cause to be furnished to the Guarantee Trustee (i) semiannually, on or
before • of each year, a list, in such form as the Guarantee Trustee may reasonably require, of the names and addresses of the Holders (a “List of Holders”) as of a date not more than 15 days prior to the delivery thereof, and
(ii) at such other times as the Guarantee Trustee may request in writing, within 30 days after the receipt by the Guarantor of any such request, a List of Holders as of a date not more than 15 days prior to the time such list is furnished, in
each case to the extent such information is in the possession or control of the Guarantor and has not otherwise been received by the Guarantee Trustee in its capacity as such. Notwithstanding the preceding sentence, the Guarantor shall not be
obligated to provide such List of Holders at any time the List of Holders does not differ from the most recent List of Holders given to the Guarantee Trustee by the Guarantor. The Guarantee Trustee may destroy any List of Holders previously given to
it on receipt of a new List of Holders. 
 (b) The Guarantee Trustee shall act in accordance with the
requirements of Section 311(a), Section 311(b) and Section 312(b) of the Trust Indenture Act. 

Section 2.3. Reports by the Guarantee Trustee. 
 Within 60 days after • of each year, commencing •, 20•, the Guarantee Trustee shall provide to the Holders such reports as would be required by Section 313 of the Trust Indenture Act,
if any, in the form and in the manner provided by Section 313 of the Trust Indenture Act. The Guarantee Trustee shall also act in accordance with the requirements of Section 313(d) of the Trust Indenture Act. 

  
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 Section 2.4. Periodic Reports to the Guarantee Trustee. 

The Guarantor shall provide to the Guarantee Trustee, the Securities and Exchange Commission and the Holders such documents, reports and
information, if any, as would be required by Section 314 of the Trust Indenture Act and the compliance certificate required by Section 314 of the Trust Indenture Act, in the form, in the manner and at the times as would be required by
Section 314 of the Trust Indenture Act. 
 Section 2.5. Evidence of Compliance with Conditions Precedent.

 The Guarantor shall provide to the Guarantee Trustee such evidence of compliance with such conditions precedent, if any,
provided for in this Guarantee Agreement that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion that would be required to be given by an officer of the Guarantor pursuant to
Section 314(c)(1) may be given in the form of an Officers’ Certificate. 
 Section 2.6. Events of Default;
Waiver. 
 The Holders of at least a Majority in Liquidation Amount of the Preferred Securities may, by vote, on behalf of
the Holders of all the Preferred Securities, waive any past default or Event of Default and its consequences. Upon such waiver, any such default or Event of Default shall cease to exist, and any default or Event of Default arising therefrom shall be
deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

Section 2.7. Event of Default; Notice. 

(a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class
postage prepaid, to the Holders, notice of any such Event of Default known to the Guarantee Trustee, unless such Event of Default has been cured before the giving of such notice, provided that, except in the case of a default in the payment
of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors of the Guarantee Trustee in good faith determines that
the withholding of such notice is in the interests of the Holders. 
 (b) The Guarantee Trustee shall not be
deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or an officer of the Guarantee Trustee charged with the administration of this Guarantee Agreement shall have obtained actual
knowledge, of such Event of Default. 
 Section 2.8. Reserved. 

  
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 ARTICLE III 
 POWERS, DUTIES AND RIGHTS OF THE GUARANTEE TRUSTEE 

Section 3.1. Powers and Duties of the Guarantee Trustee. 

(a) This Guarantee Agreement shall be held by the Guarantee Trustee for the benefit of the Holders, and the Guarantee
Trustee shall not transfer this Guarantee Agreement to any Person except to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Guarantee Trustee hereunder. The right, title and interest of
the Guarantee Trustee, as such, hereunder shall automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor Guarantee Trustee of its appointment hereunder, and such vesting of title shall be effective whether or not
conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee. 
 (b) If an Event of Default has occurred and is continuing of which the Guarantee Trustee is deemed to have knowledge pursuant to Section 2.7(b), the Guarantee Trustee shall enforce this Guarantee
Agreement for the benefit of the Holders. 
 (c) The Guarantee Trustee, before the occurrence of any Event of
Default, and after the curing of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Guarantee Agreement, and no implied covenants shall be read into this Guarantee
Agreement against the Guarantee Trustee. The Guarantee Trustee shall, during the existence of any Event of Default of which the Guarantee Trustee is deemed to have knowledge pursuant to Section 2.7(b) and which has not been cured or waived
pursuant to Section 2.6, exercise such of the rights and powers vested in it by this Guarantee Agreement, and use the same degree of care and skill in its exercise thereof, as a prudent person would exercise or use under the circumstances in
the conduct of his or her own affairs. 
 (d) No provision of this Guarantee Agreement shall be construed to
relieve the Guarantee Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i) Prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred: 

(A) the duties and obligations of the Guarantee Trustee shall be determined solely by the express provisions of this
Guarantee Agreement, and the Guarantee Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Guarantee Agreement; and 

(B) in the absence of bad faith on the part of the Guarantee Trustee, the Guarantee Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Guarantee Trustee and conforming to the requirements of this Guarantee Agreement; but in the case of any such
certificates or opinions that by any provision hereof or of the Trust Indenture Act are or would be specifically required to be furnished to the Guarantee Trustee, the Guarantee Trustee shall be under a duty to examine the

  
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same to determine whether or not they conform to the requirements of this Guarantee Agreement. 
 (ii) The Guarantee Trustee shall not be liable for any error of judgment made in good faith by an officer of the Guarantee Trustee, unless it shall be proved that the Guarantee Trustee was negligent in
ascertaining the pertinent facts upon which such judgment was made. 
 (iii) The Guarantee Trustee shall not be
liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of not less than a Majority in Liquidation Amount of the Preferred Securities relating to the time, method and place
of conducting any proceeding for any remedy available to the Guarantee Trustee, or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement. 

(iv) No provision of this Guarantee Agreement shall require the Guarantee Trustee to expend or risk its own funds or
otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Guarantee Trustee shall have reasonable grounds for believing that the repayment of such funds or
liability is not reasonably assured to it under the terms of this Guarantee Agreement or adequate indemnity against such risk or liability is not reasonably assured to it. 
 Section 3.2. Certain Rights of Guarantee Trustee. 
 (a)
Subject to the provisions of Section 3.1: 
 (i) The Guarantee Trustee may rely and shall be fully protected
in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document reasonably
believed by it to be genuine and to have been signed, sent or presented by the proper party or parties. 
 (ii)
Any direction or act of the Guarantor contemplated by this Guarantee Agreement shall be sufficiently evidenced by an Officers’ Certificate unless otherwise prescribed herein. 

(iii) Whenever, in the administration of this Guarantee Agreement, the Guarantee Trustee shall deem it desirable that a
matter be proved or established before taking, suffering or omitting to take any action hereunder, the Guarantee Trustee (unless other evidence is herein specifically prescribed) may, in the absence of bad faith on its part, request and rely upon an
Officers’ Certificate which, upon receipt of such request from the Guarantee Trustee, shall be promptly delivered by the Guarantor. 
 (iv) The Guarantee Trustee may consult with legal counsel, and the written advice or opinion of such legal counsel with respect to legal matters shall be full and complete authorization and protection in
respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or opinion. Such legal counsel may be legal counsel to the Guarantor or any of its Affiliates and may be one of its
employees. The Guarantee Trustee shall have the right at any time to seek instructions concerning the administration of this Guarantee Agreement from any court of competent jurisdiction. 

  
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 (v) The Guarantee Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Guarantee Agreement at the request or direction of any Holder unless such Holder shall have provided to the Guarantee Trustee such adequate security and indemnity satisfactory to it against the costs,
expenses (including attorneys’ fees and expenses) and liabilities that might be incurred by it in complying with such request or direction, including such reasonable advances as may be requested by the Guarantee Trustee; provided that
nothing contained in this Section 3.2(a)(v) shall be taken to relieve the Guarantee Trustee, upon the occurrence of an Event of Default, of its obligation to otherwise exercise the rights and powers vested in it by this Guarantee Agreement.

 (vi) The Guarantee Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Guarantee Trustee, in its discretion, may make
such further inquiry or investigation into such facts or matters as it may see fit at the expense of the Guarantor and shall incur no liability of any kind by reason of such inquiry or investigation. 

(vii) The Guarantee Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through its agents or attorneys, and the Guarantee Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed by it with due care hereunder. 

(viii) Whenever in the administration of this Guarantee Agreement the Guarantee Trustee shall deem it desirable to receive
instructions with respect to enforcing any remedy or right or taking any other action hereunder, the Guarantee Trustee (A) may request instructions from the Holders, (B) may refrain from enforcing such remedy or right or taking such other
action until such instructions are received, and (C) shall be protected in acting in accordance with such instructions. 
 (b) No provision of this Guarantee Agreement shall be deemed to impose any duty or obligation on the Guarantee Trustee to perform any act or acts or exercise any right, power, duty or obligation conferred
or imposed on it in any jurisdiction in which it shall be illegal, or in which the Guarantee Trustee shall be unqualified or incompetent in accordance with applicable law, to perform any such act or acts or to exercise any such right, power, duty or
obligation. No permissive power or authority available to the Guarantee Trustee shall be construed to be a duty to act in accordance with such power and authority. 
 Section 3.3. Compensation; Indemnity; Fees. 
 The Guarantor agrees:

 (a) to pay to the Guarantee Trustee from time to time such reasonable compensation for all services rendered
by it hereunder as may be agreed by the Guarantor and the Guarantee Trustee from time to time (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(b) except as otherwise expressly provided herein, to reimburse the Guarantee Trustee upon request for all reasonable
expenses, disbursements and advances incurred or made by the Guarantee 

  
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Trustee in accordance with any provision of this Guarantee Agreement (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to its negligence or willful misconduct; and 
 (c) to indemnify
the Guarantee Trustee, any Affiliate of the Guarantee Trustee and any officer, director, shareholder, employee, representative or agent of the Guarantee Trustee (each, an “Indemnified Person”) for, and to hold each Indemnified
Person harmless against, any loss, liability, claim, action, suit, cost, damage or expense of any kind or nature whatsoever incurred without negligence, willful misconduct or bad faith on the part of the Indemnified Person, arising out of or in
connection with the acceptance or administration of this Guarantee Agreement, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties
hereunder. 
 The Guarantee Trustee will not claim or exact any lien or charge on any Guarantee Payments as a result of any
amount due to it under this Guarantee Agreement. 
 The provisions of this Section 3.3 shall survive the termination of
this Guarantee Agreement or the resignation or removal of the Guarantee Trustee. 
 ARTICLE IV 

GUARANTEE TRUSTEE 
 Section 4.1. Guarantee Trustee; Eligibility. 
 (a)
There shall at all times be a Guarantee Trustee that shall: 
 (i) not be an Affiliate of the Guarantor; and

 (ii) be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined
capital and surplus of at least $50,000,000, and shall be a corporation meeting the requirements of Section 310(a) of the Trust Indenture Act. If such corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of its supervising or examining authority, then, for the purposes of this Section 4.1 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. 
 (b) If at any time the
Guarantee Trustee shall cease to be eligible to so act under Section 4.1(a), the Guarantee Trustee shall immediately resign in the manner and with the effect set out in Section 4.2. 

(c) If the Guarantee Trustee has or shall acquire any “conflicting interest” within the meaning of
Section 310(b) of the Trust Indenture Act, the Guarantee Trustee and Guarantor shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 

  
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 Section 4.2. Appointment, Removal and Resignation of the Guarantee Trustee.

 (a) Subject to Section 4.2(c), the Guarantee Trustee may be appointed or removed for cause at any time by
the action of the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities delivered to the Guarantee Trustee and the Guarantor. 
 (b) Subject to Section 4.2(c), the Guarantee Trustee may resign from office (without need for prior or subsequent accounting) by giving written notice thereof to the Holders and the Guarantor and by
appointing a successor Guarantee Trustee. The Guarantee Trustee shall appoint a successor by requesting from at least three Persons meeting the requirements of Section 4.1(a) their expenses and charges to serve as the Guarantee Trustee, and
selecting the Person who agrees to the lowest expenses and charges. 
 (c) The Guarantee Trustee appointed
hereunder shall hold office until a Successor Guarantee Trustee shall have been appointed and shall have accepted such appointment. No removal or resignation of a Guarantee Trustee shall be effective until a Successor Guarantee Trustee has been
appointed and has accepted such appointment by written instrument executed by such Successor Guarantee Trustee and delivered to the Guarantor and, in the case of any resignation, the resigning Guarantee Trustee. 

(d) If no Successor Guarantee Trustee shall have been appointed and accepted appointment as provided in this
Section 4.2 within 60 days after delivery to the Holders and the Guarantor of a notice of resignation, the resigning Guarantee Trustee may petition, at the expense of the Guarantor, any court of competent jurisdiction for appointment of a
Successor Guarantee Trustee. Such court may thereupon, after prescribing such notice, if any, as it may deem proper, appoint a Successor Guarantee Trustee. 
 (e) If a resigning Guarantee Trustee shall fail to appoint a successor, or if a Guarantee Trustee shall be removed or become incapable of acting as Guarantee Trustee and a replacement shall not be
appointed prior to such resignation or removal, or if a vacancy shall occur in the office of Guarantee Trustee for any cause, the Holders of the Preferred Securities, by the action of the Holders of record of not less than 25% in aggregate
Liquidation Amount (as defined in the Amended Declaration) of the Preferred Securities then Outstanding (as defined in the Amended Declaration) delivered to such Guarantee Trustee, may appoint a Successor Guarantee Trustee or Trustees. If no
successor Guarantee Trustee shall have been so appointed by the Holders of the Preferred Securities and accepted appointment, any Holder, on behalf of such Holder and all others similarly situated, or any other Guarantee Trustee, may petition any
court of competent jurisdiction for the appointment of a successor Guarantee Trustee. 
 ARTICLE V 

GUARANTEE 
 Section 5.1. Guarantee. 
 The Guarantor irrevocably and unconditionally
agrees to pay in full to the Holders the Guarantee Payments (subject to the limitations contained in the definition of that term) (without duplication of 

  
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amounts theretofore paid by or on behalf of the Issuer Trust), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer Trust may have or assert, except the
defense of payment. The Guarantor’s obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer Trust to pay such amounts to the Holders. 

Section 5.2. Waiver of Notice and Demand. 
 The Guarantor hereby waives notice of acceptance of this Guarantee Agreement and of any liability to which it applies or may apply, presentment, demand for payment, any right to require a proceeding first
against the Guarantee Trustee, the Issuer Trust or any other Person before proceeding against the Guarantor, protest, notice of nonpayment, notice of dishonor, notice of redemption and all other notices and demands. 

Section 5.3. Obligations Not Affected. 
 The obligations, covenants, agreements and duties of the Guarantor under this Guarantee Agreement shall in no way be affected or impaired by reason of the happening from time to time of any of the
following: 
 (a) the release or waiver, by operation of law or otherwise, of the performance or observance by
the Issuer Trust of any express or implied agreement, covenant, term or condition relating to the Preferred Securities to be performed or observed by the Issuer Trust; 

(b) the extension of time for the payment by the Issuer Trust of all or any portion of the Distributions, Redemption
Price, Liquidation Distribution or any other sums payable under the terms of the Preferred Securities or the extension of time for the performance of any other obligation under, arising out of, or in connection with, the Preferred Securities;

 (c) any failure, omission, delay or lack of diligence on the part of the Holders to enforce, assert or
exercise any right, privilege, power or remedy conferred on the Holders pursuant to the terms of the Preferred Securities, or any action on the part of the Issuer Trust granting indulgence or extension of any kind; 

(d) the voluntary or involuntary liquidation, dissolution, receivership, insolvency, bankruptcy, assignment for the
benefit of creditors, reorganization, arrangement, composition or readjustment of debt of, or other similar proceedings affecting, the Issuer Trust or any of the assets of the Issuer Trust; 

(e) any invalidity of, or defect or deficiency in, the Preferred Securities; 

(f) the settlement or compromise of any obligation guaranteed hereby or hereby incurred; or 

(g) any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a
guarantor (other than payment of the underlying obligation), it being the intent of this Section 5.3 that the obligations of the Guarantor hereunder shall be absolute and unconditional under any and all circumstances. 

  
 -11-

 There shall be no obligation of the Holders to give notice to, or obtain the consent of, the Guarantor with
respect to the happening of any of the foregoing. 
 Section 5.4. Rights of Holders. 

The Guarantor expressly acknowledges that: (i) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for
the benefit of the Holders; (ii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (iii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement;
and (iv) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other
Person. 
 Section 5.5. Guarantee of Payment. 

This Guarantee Agreement creates a guarantee of payment and not of collection. This Guarantee Agreement will not be discharged except by
payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Series • Preferred Shares to Holders as provided in the Amended Declaration. 

Section 5.6. Subrogation. 
 The Guarantor shall be subrogated to all rights (if any) of the Holders against the Issuer Trust in respect of any amounts paid to the Holders by the Guarantor under this Guarantee Agreement; provided,
however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any rights which it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in
all cases as a result of payment under this Guarantee Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Guarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence,
the Guarantor agrees to hold such amount in trust for the Holders and to pay over such amount to the Holders. 

Section 5.7. Independent Obligations. 
 The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer Trust with respect to the Preferred Securities and that the Guarantor shall be liable as
principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee Agreement notwithstanding the occurrence of any event referred to in subsections (a) through (g), inclusive, of Section 5.3. 

  
 -12-

 ARTICLE VI 
 COVENANTS AND SUBORDINATION 

Section 6.1. Subordination. 
 The obligations of the Guarantor under this Guarantee Agreement will constitute unsecured obligations of the Guarantor and will rank subordinate and junior in right of payment and upon liquidation,
dissolution or winding up, to all indebtedness and other liabilities of the Guarantor and all capital stock of the Guarantor that by its terms ranks senior to the Series • Preferred Shares as to payment of dividends and distributions of assets.
The obligations of the Guarantor hereunder do not constitute senior debt of the Guarantor. 
 Section 6.2. Pari Passu
Guarantees. 
 The obligations of the Guarantor under this Guarantee Agreement shall rank pari passu with the
obligations of the Guarantor under (i) any similar guarantee agreements issued by the Guarantor on behalf of the holders of preferred or capital securities issued by any statutory trust the assets of which consist of preferred stock of the
Guarantor that are pari passu to the Series • Preferred Shares and the proceeds thereof, (ii) any expense agreements entered into by the Guarantor in connection with the offering of preferred or capital securities by any statutory
trust the assets of which consists of equity securities that are pari passu to the Series • Preferred Shares and the proceeds thereof, and (iii) any other security, guarantee or other agreement or obligation that is expressly stated
to rank pari passu with the obligations of the Guarantor under this Guarantee Agreement or with any obligation that ranks pari passu with the obligations of the Guarantor under this Guarantee Agreement. 

Section 6.3. Right of Direct Action. 
 The Guarantor agrees that, to the fullest extent permitted by applicable law, each Holder has the right to institute a proceeding directly against the Guarantor for enforcement of the rights of a holder
of Series • Preferred Shares to the extent of any interest in Series • Preferred Shares corresponding to the aggregate liquidation amount of such Holder’s Preferred Securities (such right, a “direct right of action”).

 ARTICLE VII 
 TERMINATION 
 Section 7.1. Termination. 

This Guarantee Agreement shall terminate and be of no further force and effect upon (i) full payment of the Redemption Price (as
defined in the Amended Declaration) of all Preferred Securities, (ii) the distribution of the Series • Preferred Shares to the Holders in exchange for all of the Preferred Securities or (iii) full payment of the amounts payable in
accordance with Article IX of the Amended Declaration upon liquidation of the Issuer Trust. Notwithstanding the foregoing, this Guarantee Agreement will continue to be effective or will be reinstated, as the case may be, if at any time any Holder is
required to repay any sums paid with respect to Preferred Securities or this Guarantee Agreement. 

  
 -13-

 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1. Successors and Assigns.

 All guarantees and agreements contained in this Guarantee Agreement shall bind the successors, assigns, receivers, trustees
and representatives of the Guarantor and shall inure to the benefit of the Holders of the Preferred Securities then outstanding. Except in connection with a consolidation, merger or sale involving the Guarantor pursuant to which the successor or
assignee agrees in writing to perform the Guarantor’s obligations hereunder, the Guarantor shall not assign its obligations hereunder, and any purported assignment other than in accordance with this provision shall be void. 

Section 8.2. Amendments. 
 Except with respect to any changes that do not adversely affect the rights of the Holders in any material respect (in which case no consent of the Holders will be required), this Guarantee Agreement may
only be amended with the prior approval of the Holders of not less than a Majority in Liquidation Amount of the Preferred Securities. The provisions of Article VI of the Amended Declaration concerning meetings of the Holders shall apply to the
giving of such approval. 
 Section 8.3. Notices. 

Any notice, request or other communication required or permitted to be given hereunder shall be in writing, duly signed by the party
giving such notice, and delivered, telecopied or mailed by first class mail as follows: 
 (a) if given to the
Guarantor, to the address or facsimile number set forth below or such other address or facsimile number as the Guarantor may give notice to the Guarantee Trustee and the Holders: 

Fifth Third Bancorp 
 38 Fountain Square Plaza 
 Cincinnati, Ohio 45263 

Tel: 
 Fax: 
 Attention: 

(b) if given to the Guarantee Trustee, at the address or facsimile number set forth below or such other address or
facsimile number as the Guarantee Trustee may give notice to the Guarantor and the Holders: 

  
 -14-

 Wilmington Trust Company 

Rodney Square North, 1100 N. Market Street, 

Wilmington, Delaware 19890 
 Tel: 
 Fax: 

Attention: 
 (c) if given to any Holder, at the address set forth on the books and records of the Issuer Trust. 
 All notices hereunder shall be deemed to have been given when received in person, telecopied with receipt confirmed, or mailed by first class mail, postage prepaid, except that if a notice or other
document is refused delivery or cannot be delivered because of a changed address of which no notice was given, such notice or other document shall be deemed to have been delivered on the date of such refusal or inability to deliver. 

Section 8.4. Benefit. 
 This Guarantee Agreement is solely for the benefit of the Holders and is not separately transferable from the Preferred Securities. 

Section 8.5. Governing Law. 
 THIS GUARANTEE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

Section 8.6. Counterparts. 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument. 

  
 -15-

 IN WITNESS WHEREOF, the
parties hereto have executed this Guarantee Agreement as of the day and year first above written. 
  

			
	FIFTH THIRD BANCORP
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 WILMINGTON TRUST COMPANY,

  as Guarantee Trustee

		
	By:	 	 
		 	Name:
		 	Title:Form of Employee Stock Option Agreement

 Exhibit 10.26 
 Oragenics, Inc. 
 Notice of Grant of Stock Options 

and Stock Option Award Agreement 
 Dear [insert name of employee] 
 Oragenics, Inc. hereby grants you Stock Options to purchase up to
            shares of our Common Stock (the “Stock Options”), subject to the terms and conditions set forth in this Notice of Grant, the Terms and Conditions attached hereto as
Appendix A and terms of the Oragenics, Inc. 2012 Equity Incentive Plan. The key terms of the Stock Options granted to you are as follows. 
 Number of Shares: Under these Stock Options, you may purchase up to                  shares of Common Stock.

 Exercise Price: The purchase price for your Stock Options shall be
$             per share. 
 Date of Grant: The “Date of
Grant” for your Stock Options is             , 2013. 

Vesting Schedule: Your Stock Options will be exercisable only after they become “vested.” Vesting is subject to your
continued employment with Oragenics through the following vesting dates. 
  

					
	 Vesting Date
	  	Vested Percentage
of Shares	  	Total Number of
Purchasable Shares
		  		  	
		  		  	
		  		  	

 Not ISOs: These Stock Options are not “incentive stock options” under the federal tax
laws. 
 Expiration Date: If not previously exercised or forfeited, the Stock Options shall expire on
            , 2023. 
 Your signature below acknowledges your agreement that these
Stock Options granted to you are subject to all of the terms and conditions contained in Appendix A and the Plan. PLEASE BE SURE TO READ APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF YOUR AWARD. 

Please sign one copy of this Stock Option Agreement (the other copy is for your files) and return the signed copy to [me/or insert name or position] no
later than [March 31, 2013]. 
  

							
		 		 	 ORAGENICS, INC.

			
	  
	 		 	  

	Date	 		 	John Bonfiglio, President & CEO
			
	Employee	 		 	
			
	  
	 		 	  

	Print name:	 	  
	 		 	Date

 APPENDIX A 
 TERMS AND CONDITIONS OF STOCK OPTIONS 
 1. Grant. Oragenics, Inc.
(the “Company”) has granted the employee of the Company named in the attached Notice of Grant (the “Employee”) stock options to purchase the number of shares of the Company’s Common Stock, $.001 par value per share
(“Common Stock”), specified in the Notice of Grant attached hereto and incorporated into this Award Agreement by reference. Capitalized terms used and not defined in this Agreement will have the meaning set forth in the Plan. 

The Stock Options granted under this Award Agreement are not intended to be Incentive Stock Options covered by Section 422 of the
Code except to the extent the Notice of Grant expressly states that the Stock Options are intended to be Incentive Stock Options. 
 2. Incorporation of the 2012 Incentive Plan. The Stock Options have been granted pursuant to the provisions of the Company’s 2012 Equity Incentive Plan, and the terms and definitions of the
2012 Equity Incentive Plan are incorporated into this Award Agreement by reference and made a part of this Award Agreement. The Employee acknowledges receipt of a copy of the 2012 Equity Incentive Plan. 

3. Purchase Price. The price per share to be paid by the Employee for the shares purchased pursuant to these Stock Options (the
“Exercise Price”) shall be as specified in the Notice of Grant. This Exercise Price shall be an amount not less than the Fair Market Value of a share of Common Stock as of the Date of Grant (as defined in the Plan and specified in the
Notice of Grant), or not less than 110% of the Fair Market Value of a share of Common Stock if the Stock Options are Incentive Stock Options and Employee is a 10-percent shareholder described in Section 5.3.2 of the 2012 Equity Incentive Plan).

 4. Exercise Terms. The Stock Options shall become vested and exercisable in the amounts and at the time(s) described
in vesting schedule set forth in the Notice of Grant. The Stock Options shall become vested and exercisable only if the Employee continues to be employed by the Company through the vesting dates set forth in the vesting schedule in Notice of Grant.

 The Employee must exercise the Stock Options for at least 100 shares, or, if less the full number of shares shown as
Purchasable Shares in the vesting schedule in the Notice of Grant as to which the Stock Options remain unexercised. 
 If the
Stock Options are not exercised with respect to all or any part of the shares subject to the Stock Options prior to the expiration date specified in the Notice of Grant (which shall be no later than ten (10) years from the date of grant), the
Stock Options shall expire and any shares with respect to which the Stock Options were not exercised shall no longer be Purchasable Shares subject to the Stock Options. 
 5. Option Non-Transferable. No Stock Options shall be transferable by an Employee other than by will or the laws of descent and distribution or, in the case of non-Incentive Stock Options, pursuant
to a Qualified Domestic Relations Order or as otherwise permitted pursuant to Section 11.7 of the 2012 Equity Incentive Plan. During the lifetime of an Employee, the Stock Options shall be exercisable only by such Employee (or by such
Employee’s guardian or legal representative, should one be appointed). 
 6. Notice of Exercise of Option. The Stock
Options may be exercised by the Employee, or by the Employee’s administrators, executors or personal representatives, by a written notice signed by the Employee, or by such administrators, executors or personal representatives, and delivered or
mailed to the Company to the attention of the President, Chief Executive Officer or such other officer as the President or Chief Executive Officer may designate. Any such notice shall: 

(a) specify the number of shares of Common Stock which the Employee or the Employee’s administrators, executors or personal
representatives, as the case may be, then elects to purchase hereunder, 
 (b) contain such information as may be reasonably
required pursuant to Section 11 below, and 
 (c) be accompanied by (i) a certified or cashier’s check or, if
acceptable to the Committee, a recourse note payable to the Company in payment of the total Exercise Price applicable to such shares as provided herein, (ii) shares of Common Stock owned by the Employee and duly endorsed or accompanied by stock
transfer powers having a Fair Market Value equal to the total Exercise Price applicable to such shares purchased under this Agreement, (iii) shares otherwise issuable upon exercise of the Stock Options having a Fair Market Value

 
equal to the total Exercise Price applicable to such shares purchased under this Agreement or (iv) a certified or cashier’s check or, if acceptable to the Committee, a recourse
note payable to the Company, accompanied by the number of shares of Common Stock whose Fair Market Value when added to the amount of the check or note equals the total Exercise Price applicable to the shares being purchased under this Agreement.

 Upon receipt of any such notice and accompanying payment, and subject to the terms hereof, the Company agrees to issue to the Employee or the
Employee’s administrators, executors or personal representatives, as the case may be, stock certificates for the number of shares specified in such notice registered in the name of the person exercising the Stock Options. 

7. Tax Withholding. Whenever the Employee exercises any portion of the Stock Options, the Company shall notify the Employee of the
amount of tax (if any) which must be withheld by the Company under all applicable federal, state and local tax laws. The Employee agrees to make arrangements with the Company with respect to each exercise of the Stock Options to (a) remit the
required amount to the Company, (b) authorize the Company to withhold a portion of the shares of Common Stock otherwise issuable upon the exercise with a value equal to such tax, (c) authorize the deduction of such amounts from the
Employee’s regular salary payments, or (d) otherwise satisfy the applicable tax withholding requirement in a manner satisfactory to the Company. 
 8. Issuance of Stock Certificates for Shares. The stock certificates for any shares of Common Stock issuable to the Employee upon exercise of the Stock Options shall be delivered to the Employee
(or to the person to whom the rights of the Employee shall have passed by will or the laws of descent and distribution) as promptly after the date of exercise as is feasible, but not before the Employee has paid the option price for such shares and
made arrangements for any tax withholding, as required by Section 7. 
 9. Termination of Employment. 

(a) Except as otherwise specified in the Notice of Grant for the Stock Options covered by this Agreement, in the event of the termination
of the Employee’s employment with the Company, other than a termination that is either (i) for Cause, (ii) voluntarily initiated on the part of the Employee and without written consent of the Company, or (iii) for reasons of
death or retirement, the Employee may exercise the vested portion of the Stock Options at any time within ninety (90) days after such termination to the extent of the number of shares which were Purchasable Shares under the vesting schedule in
the Notice of Grant at the date of such termination. 
 (b) Except as specified in the Notice of Grant for the Stock Options
attached hereto, in the event of a termination of the Employee’s employment that is either (i) for Cause or (ii) voluntarily initiated on the part of the Employee and without the written consent of the Company, the Stock Options, to
the extent not previously exercised, shall terminate immediately and shall not thereafter be or become exercisable. 
 (c) Unless
and to the extent otherwise provided in the Notice of Grant, in the event of the retirement of the Employee at the normal retirement date as prescribed from time to time by the Company, the Employee shall continue to have the right to exercise any
Stock Options for shares which were Purchasable Shares under the vesting schedule in the Notice of Grant at the date of the Employee’s retirement at any time within ninety (90) days after the date of retirement. The Stock Options do not
confer upon the Employee any right with respect to continuance of employment with the Company. 
 10. Death of Employee.
Except as otherwise set forth in the Notice of Grant with respect to the rights of the Employee upon termination of employment under Section 9(a) above, in the event of the Employee’s death while employed by the Company or within three
months after a termination of such employment (if such termination was neither (i) for cause nor (ii) voluntary on the part of the Employee and without the written consent of the Company), the appropriate persons described in
Section 6 of this Agreement or persons to whom all or a portion of the Stock Options is transferred in accordance with Section 5 of this Agreement may exercise the Stock Options at any time within a period ending on the earlier of
(a) the last day of the one year period following the Employee’s death or (b) the expiration date of the Stock Options specified in the Notice of Grant. If the Employee was an employee of the Company at the time of death, any unvested
rights to acquire shares pursuant to the Stock Options shall immediately vest and the Stock Options may be so exercised to the extent of the number of shares that were Purchasable Shares under the vesting schedule in the Notice of Grant at the date
of death. If the Employee’s employment terminated prior to his or her death, the Stock Options may be exercised only to the extent of the number of shares covered by the Stock Options which were Purchasable Shares under the vesting schedule in
the Notice of Grant at the date of such termination. 

 11. Compliance with Regulatory Matters. The Employee acknowledges that the issuance
of capital stock of the Company is subject to limitations imposed by federal and state law, and the Employee hereby agrees that the Company shall not be obligated to issue any shares of Common Stock upon an attempted exercise of this Stock Options
that would cause the Company to violate law or any rule, regulation, order or consent decree of any regulatory authority (including without limitation the SEC) having jurisdiction over the affairs of the Company. The Employee agrees that he or she
will provide the Company with such information as is reasonably requested by the Company or its counsel to determine whether the issuance of Common Stock complies with the provisions described by this Section 11. 

12. Adjustment in Option. The number of Shares subject to these Stock Options, the Exercise Price and other matters are subject to
adjustment during the term of the Stock Options in accordance with Section 4.3 of the 2012 Equity Incentive Plan. 
 13.
Rights Prior to Issuance of Certificates. Neither the Employee nor any person to whom the rights of the Employee shall have passed by will or the laws of descent and distribution shall have any of the rights of a shareholder with respect to
any shares of Common Stock until the date of the issuance to him of certificates for such Common Stock as provided in Section 8 above. 
 14. Miscellaneous. 
 (a) This Agreement shall be binding upon the parties
hereto and their representatives, successors and assigns. 
 (b) This Agreement shall be governed by the laws of, the State of
Florida. 
 (c) Any requests or notices to be given hereunder shall be deemed given, and any elections or exercises to be made or
accomplished shall be deemed made or accomplished, upon actual delivery thereof to the designated recipient, or three days after deposit thereof in the United States mail, registered, return receipt requested and postage prepaid, addressed, if to
the Employee, at the address set forth below and, if to the Company, to the executive offices of the Company at 4902 Eisenhower Blvd., Suite 125, Tampa, Florida 33634 or at such other addresses that the parties provide to each other in accordance
with the foregoing notice requirements. 
 (d) This Agreement may not be modified except in writing executed by each of the
parties to it. 
 (e) This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one
or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. 
 (f) This
Agreement is not intended to affect the Employee’s employment status with the Company, and the Employee shall remain employed on an at-will basis only. The Stock Options do not confer upon the Employee any right with respect to continuance of
employment with the Company. 
 15. Restriction on Disposition of Shares. Unless the Company otherwise agrees in writing,
the shares purchased pursuant to the exercise of an Incentive Stock Option shall not be transferred by the Employee except pursuant to the Employee’s will, or the laws of descent and distribution, until such date which is the later of two years
after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Employee pursuant to the exercise of such Incentive Stock Option. [Applicable only for ISOs; delete if the Stock Options are not intended to be
Incentive Stock Options].

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