Document:

EX-10.2

 Exhibit 10.2 
  

 
  
 CONKWEST, INC. 2014 EQUITY
INCENTIVE PLAN 
  

	1.	 PURPOSE OF PLAN 

1.1        The purpose of this 2014 Equity Incentive Plan (this
“Plan”) of Conkwest, Inc., a Delaware corporation (the “Corporation”), is to promote the success of the Corporation and to increase stockholder value by providing an additional means through the grant of awards to
attract, motivate, retain and reward selected employees and other eligible persons. To the extent certain provisions in this Plan are applicable to “public reporting companies”, such provisions shall only become applicable to the
Corporation and the receipient of any grant hereunder at such time when the Corporation becomes required to file reports under either Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
as a result of the Corporation’s consummation of an initial public offering of its common stock or the consummation of a reverse merger, share exchange or other business combination with a publicly traded company resulting in the Corporation
becoming a “public reporting company” required to file reports under either Section 13 or 15(d) of the Exchange Act. 
  

	2.	 ELIGIBILITY 

2.1        The Administrator (as such term is defined in Section 3.1) may
grant awards under this Plan only to those persons that the Administrator determines to be Eligible Persons. An “Eligible Person” is any person who is either: (a) an officer (whether or not a director) or employee of the
Corporation or one of its Subsidiaries; (b) a director of the Corporation or one of its Subsidiaries; or (c) an individual consultant who renders bona fide services (other than services in connection with the offering or sale of securities
of the Corporation or one of its Subsidiaries in a capital-raising transaction or as a market maker or promoter of securities of the Corporation or one of its Subsidiaries) to the Corporation or one of its Subsidiaries and who is selected to
participate in this Plan by the Administrator; provided, however, that a person who is otherwise an Eligible Person under clause (c) above may participate in this Plan only if such participation would not adversely affect either
the Corporation’s eligibility to use Form S-8 to register under the Securities Act of 1933, as amended (the “Securities Act”), the offering and sale of shares issuable under this Plan by the Corporation, or the
Corporation’s compliance with any other applicable laws. An Eligible Person who has been granted an award (a “participant”) may, if otherwise eligible, be granted additional awards if the Administrator shall so determine. As
used herein, “Subsidiary” means any corporation or other entity a majority of whose outstanding voting stock or voting power is beneficially owned directly or indirectly by the Corporation; and “Board” means the
Board of Directors of the Corporation. 
  

	3.	 PLAN ADMINISTRATION 

3.1 The Administrator.   This Plan shall be administered by and all awards
under this Plan shall be authorized by the Administrator. The “Administrator” means the Board or one or more committees appointed by the Board or another committee (within its delegated authority) to administer all or certain
aspects of this Plan. Any such committee shall be comprised solely of one or more directors or such number of directors as may be required under applicable law. A committee may delegate some or all of its authority to another committee so
constituted. The Board or a committee comprised solely of directors may also delegate, to the extent permitted by Section 157 of the Delaware General Corporation Law and any other applicable law, to one or more officers of the Corporation, its
powers under this Plan (a) to Eligible Persons who will receive grants of awards under this Plan, and (b) to determine the number of shares subject to, and the other terms and conditions of, such awards. The Board may delegate different
levels of authority to different committees with administrative and grant authority under this Plan. Unless otherwise provided in the bylaws of the Corporation or the applicable charter of any Administrator: (a) a majority of the members of the
acting Administrator shall constitute a quorum, and (b) the affirmative vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the members of the Administrator shall constitute due
authorization of an action by the acting Administrator. 

  
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 With respect to
awards, if any, intended to satisfy the requirements for performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), this Plan shall be administered by a committee
consisting solely of two or more outside directors (as this requirement is applied under Section 162(m) of the Code); provided, however, that the failure to satisfy such requirement shall not affect the validity of the action of any
committee otherwise duly authorized and acting in the matter. Award grants, and transactions in or involving awards, intended to be exempt under Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
must be duly and timely authorized by the Board or a committee consisting solely of two or more non-employee directors (as this requirement is applied under Rule 16b-3 promulgated under the Exchange Act). To the extent required by any applicable
stock exchange, this Plan shall be administered by a committee composed entirely of independent directors (within the meaning of the applicable stock exchange). 

3.2 Powers of the Administrator.   Subject to the express provisions of this Plan, the
Administrator is authorized and empowered to do all things necessary or desirable in connection with the authorization of awards and the administration of this Plan (in the case of a committee or delegation to one or more officers, within the
authority delegated to that committee or person(s)), including, without limitation, the authority to: 
 (a)
determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive awards under this Plan; 

(b) grant awards to Eligible Persons, determine the price at which securities will be offered or awarded and the number of
securities to be offered or awarded to any of such persons, determine the other specific terms and conditions of such awards consistent with the express limits of this Plan, establish the installments (if any) in which such awards shall become
exercisable or shall vest (which may include, without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish any applicable performance targets, and establish the events of
termination or reversion of such awards; 
 (c) approve the forms of award agreements (which need not be identical either as
to type of award or among participants); 
 (d) construe and interpret this Plan and any agreements defining the rights and
obligations of the Corporation, its Subsidiaries, and participants under this Plan, further define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or the awards granted
under this Plan; 
 (e) cancel, modify, or waive the Corporation’s rights with respect to, or modify, discontinue,
suspend, or terminate any or all outstanding awards, subject to any required consent under Section 8.6.5; 
 (f)
accelerate or extend the vesting or exercisability or extend the term of any or all such outstanding awards (in the case of options or stock appreciation rights, within the maximum ten-year term of such awards) in such circumstances as the
Administrator may deem appropriate (including, without limitation, in connection with a termination of employment or services or other events of a personal nature) subject to any required consent under Section 8.6.5; 

(g) adjust the number of shares of Common Stock subject to any award, adjust the price of any or all outstanding awards or
otherwise change previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to compliance with applicable any stock exchange requirements, Sections 4 and 8.6 and the applicable
requirements of Code Section 162(m) and treasury regulations thereunder with respect to awards that are intended to satisfy the requirements for performance-based compensation under Section 162(m), and provided that in no case (except due
to an adjustment contemplated by Section 7 or any repricing that may be approved by stockholders) shall such an adjustment constitute a repricing (by amendment, cancellation and regrant, exchange or other means) of the per share exercise or
base price of any stock option or stock appreciation right or other award granted under this Plan, and further provided that any adjustment or change in terms made pursuant to this Section 3.2(g) shall be made in a manner that, in the good
faith determination of the Administrator will not likely result in the imposition of additional taxes or interest under Section 409A of the Code; 

  
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 (h) determine the
date of grant of an award, which may be a designated date after but not before the date of the Administrator’s action (unless otherwise designated by the Administrator, the date of grant of an award shall be the date upon which the
Administrator took the action granting an award); 
 (i) determine whether, and the extent to which, adjustments are
required pursuant to Section 7 hereof and authorize the termination, conversion, substitution, acceleration or succession of awards upon the occurrence of an event of the type described in Section 7; 

(j) acquire or settle (subject to Sections 7 and 8.6) rights under awards in cash, stock of equivalent value, or other
consideration; and 
 (k) determine the Fair Market Value (as defined in Section 5.6) of the Common Stock or awards
under this Plan from time to time and/or the manner in which such value will be determined. 
 3.3
Binding Determinations.   Any action taken by, or inaction of, the Corporation, any Subsidiary, or the Administrator relating or pursuant to this Plan and within its authority hereunder or under applicable law shall be
within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the Board, the Administrator, nor any Board committee, nor any member thereof or person acting at the direction thereof, shall be
liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any award made under this Plan), and all such persons shall be entitled to indemnification and reimbursement by the
Corporation in respect of any claim, loss, damage or expense (including, without limitation, legal fees) arising or resulting therefrom to the fullest extent permitted by law and/or under any directors and officers liability insurance coverage that
may be in effect from time to time. 
 3.4 Reliance on Experts.   In
making any determination or in taking or not taking any action under this Plan, the Administrator may obtain and may rely upon the advice of experts, including professional advisors to the Corporation. The Administrator shall not be liable for any
such action or determination taken or made or omitted in good faith based upon such advice. 
 3.5
Delegation of Non-Discretionary Functions.   In addition to the ability to delegate certain grant authority to officers of the Corporation as set forth in Section 3.1, the Administrator
may also delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Corporation or any of its Subsidiaries or to third parties. 

 

	4.	 SHARES OF COMMON STOCK SUBJECT TO THE PLAN; SHARE LIMIT 

4.1 Shares Available.   Subject to the provisions of
Section 7.1, the capital stock available for issuance under this Plan shall be shares of the Corporation’s authorized but unissued Common Stock. For purposes of this Plan, “Common Stock” shall mean the common stock of the
Corporation and such other securities or property as may become the subject of awards under this Plan, or may become subject to such awards, pursuant to an adjustment made under Section 7.1. 

4.2 Share Limit.   The maximum number of shares of Common Stock that may be delivered
pursuant to awards granted to Eligible Persons under this Plan may not exceed 6,000,000 shares of Common Stock (the “Share Limit”). 

The foregoing Share Limit is subject to adjustment as contemplated by Section 4.3, Section 7.1, and
Section 8.10. 
 4.3 Awards Settled in Cash, Reissue of Awards and Shares.   The
Administrator may adopt reasonable counting procedures to ensure appropriate counting, avoid double counting (as, for example, in the case of tandem or substitute awards) and make adjustments in accordance with this Section 4.3. Shares shall be
counted against those reserved to the extent such shares have been delivered and are no longer subject to a substantial risk of  

  
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forfeiture. Accordingly, (i) to the extent that an award under the Plan, in whole or in part, is canceled, expired, forfeited, settled in cash, settled by delivery of fewer shares than the
number of shares underlying the award, or otherwise terminated without delivery of shares to the participant, the shares retained by or returned to the Corporation will not be deemed to have been delivered under the Plan and will be deemed to remain
or to become available under this Plan; and (ii) shares that are withheld from such an award or separately surrendered by the participant in payment of the exercise price or taxes relating to such an award shall be deemed to constitute shares
not delivered and will be deemed to remain or to become available under the Plan. To the extent applicable, the foregoing adjustments to the Share Limit of this Plan are subject to any applicable limitations under Section 162(m) of the Code
with respect to awards intended as performance-based compensation thereunder. 
 4.4 Reservation of Shares; No
Fractional Shares.   The Corporation shall at all times reserve a number of shares of Common Stock sufficient to cover the Corporation’s obligations and contingent obligations to deliver shares with respect to awards
then outstanding under this Plan (exclusive of any dividend equivalent obligations to the extent the Corporation has the right to settle such rights in cash). No fractional shares shall be delivered under this Plan. The Administrator may pay cash in
lieu of any fractional shares in settlements of awards under this Plan. 
  

	5.	 AWARDS 

5.1 Type and Form of Awards.   The Administrator shall determine the type or types of
award(s) to be made to each selected Eligible Person. Awards may be granted singly, in combination or in tandem. Awards also may be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment form for grants or
rights under any other employee or compensation plan of the Corporation or one of its Subsidiaries. The types of awards that may be granted under this Plan are: 

5.1.1 Stock Options.   A stock option is the grant of a right to purchase a specified
number of shares of Common Stock during a specified period as determined by the Administrator. An option may be intended as an incentive stock option within the meaning of Section 422 of the Code (an “ISO”) or a nonqualified
stock option (an option not intended to be an ISO). The award agreement for an option will indicate if the option is intended as an ISO; otherwise it will be deemed to be a nonqualified stock option. The maximum term of each option (ISO or
nonqualified) shall be ten (10) years. The per share exercise price for each option shall be not less than 100% of the Fair Market Value of a share of Common Stock on the date of grant of the option. When an option is exercised, the exercise
price for the shares to be purchased shall be paid in full in cash or such other method permitted by the Administrator consistent with Section 5.5. 

5.1.2 Additional Rules Applicable to ISOs.   To the extent that the
aggregate Fair Market Value (determined at the time of grant of the applicable option) of stock with respect to which ISOs first become exercisable by a participant in any calendar year exceeds $100,000, taking into account both Common Stock subject
to ISOs under this Plan and stock subject to ISOs under all other plans of the Corporation or one of its Subsidiaries (or any parent or predecessor corporation to the extent required by and within the meaning of Section 422 of the Code and the
regulations promulgated thereunder), such options shall be treated as nonqualified stock options. In reducing the number of options treated as ISOs to meet the $100,000 limit, the most recently granted options shall be reduced first. To the extent a
reduction of simultaneously granted options is necessary to meet the $100,000 limit, the Administrator may, in the manner and to the extent permitted by law, designate which shares of Common Stock are to be treated as shares acquired pursuant to the
exercise of an ISO. ISOs may only be granted to employees of the Corporation or one of its subsidiaries (for this purpose, the term “subsidiary” is used as defined in Section 424(f) of the Code, which generally requires an unbroken
chain of ownership of at least 50% of the total combined voting power of all classes of stock of each subsidiary in the chain beginning with the Corporation and ending with the subsidiary in question). There shall be imposed in any award agreement
relating to ISOs such other terms and conditions as from time to time are required in order that the option be an “incentive stock option” as that term is defined in Section 422 of the Code. No ISO may be granted to any person who, at
the time the option is granted, owns (or is deemed to own under Section 424(d) of the Code) shares of outstanding Common Stock possessing more than 10% of the total combined voting power of all classes of stock of the Corporation, unless the
exercise price of such option is at least 110% of the Fair Market Value of the stock subject to the option and such option by its terms is not exercisable after the expiration of five years from the date such option is granted. 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 5.1.3
Stock Appreciation Rights.   A stock appreciation right or “SAR” is a right to receive a payment, in cash and/or Common Stock, equal to the number of shares of Common Stock being
exercised multiplied by the excess of (i) the Fair Market Value of a share of Common Stock on the date the SAR is exercised, over (ii) the Fair Market Value of a share of Common Stock on the date the SAR was granted as specified in the
applicable award agreement (the “base price”). The maximum term of a SAR shall be ten (10) years. 

5.1.4 Restricted Shares. 

(a) Restrictions.   Restricted shares are shares of Common Stock subject to such restrictions on
transferability, risk of forfeiture and other restrictions, if any, as the Administrator may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance
goals and/or future service requirements), in such installments or otherwise, as the Administrator may determine at the date of grant or thereafter. Except to the extent restricted under the terms of this Plan and the applicable award agreement
relating to the restricted stock, a participant granted restricted stock shall have all of the rights of a shareholder, including the right to vote the restricted stock and the right to receive dividends thereon (subject to any mandatory
reinvestment or other requirement imposed by the Administrator). 
 (b) Certificates for Shares.
  Restricted shares granted under this Plan may be evidenced in such manner as the Administrator shall determine. If certificates representing restricted stock are registered in the name of the participant, the Administrator may require
that such certificates bear an appropriate legend referring to the terms, conditions and restrictions applicable to such restricted stock, that the Corporation retain physical possession of the certificates, and that the participant deliver a stock
power to the Corporation, endorsed in blank, relating to the restricted stock. The Administrator may require that restricted shares are held in escrow until all restrictions lapse. 

(c) Dividends and Splits.   As a condition to the grant of an award of restricted stock, subject to
applicable law, the Administrator may require or permit a participant to elect that any cash dividends paid on a share of restricted stock be automatically reinvested in additional shares of restricted stock or applied to the purchase of additional
awards under this Plan. Unless otherwise determined by the Administrator, stock distributed in connection with a stock split or stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture
to the same extent as the restricted stock with respect to which such stock or other property has been distributed. 

5.1.5 Restricted Share Units. 

(a) Grant of Restricted Share Units.   A restricted share unit, or “RSU”, represents the
right to receive from the Corporation on the respective scheduled vesting or payment date for such RSU, one Common Share. An award of RSUs may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such
other terms and conditions as the Administrator may determine, subject to the provisions of this Plan. At the time an award of RSUs is made, the Administrator shall establish a period of time during which the restricted share units shall vest and
the timing for settlement of the RSU. 
 (b) Dividend Equivalent Accounts.   Subject to the terms and
conditions of the Plan and the applicable award agreement, as well as any procedures established by the Administrator, prior to the expiration of the applicable vesting period of an RSU, the Administrator may determine to pay dividend equivalent
rights with respect to RSUs, in which case, the Corporation shall establish an account for the participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the shares
of Common Stock underlying each RSU. Each amount or other property credited to any such account shall be subject to the same vesting conditions as the RSU to which it relates. The participant shall have the right to be paid the amounts or other
property credited to such account upon vesting of the subject RSU. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 (c) Rights as a
Shareholder.   Subject to the restrictions imposed under the terms and conditions of this Plan and the applicable award agreement, each participant receiving RSUs shall have no rights as a shareholder with respect to such RSUs until
such time as shares of Common Stock are issued to the participant. No shares of Common Stock shall be issued at the time a RSU is granted, and the Company will not be required to set aside a fund for the payment of any such award. Except as
otherwise provided in the applicable award agreement, shares of Common Stock issuable under an RSU shall be treated as issued on the first date that the holder of the RSU is no longer subject to a substantial risk of forfeiture as determined for
purposes of Section 409A of the Code, and the holder shall be the owner of such shares of Common Stock on such date. An award agreement may provide that issuance of shares of Common Stock under an RSU may be deferred beyond the first date that
the RSU is no longer subject to a substantial risk of forfeiture, provided that such deferral is structured in a manner that is intended to comply with the requirements of Section 409A of the Code. 

5.1.6 Cash Awards.   The Administrator may, from time to time, subject to the provisions of the
Plan and such other terms and conditions as it may determine, grant cash bonuses (including without limitation, discretionary awards, awards based on objective or subjective performance criteria, awards subject to other vesting criteria or awards
granted consistent with Section 5.2 below). Cash awards shall be awarded in such amount and at such times during the term of the Plan as the Administrator shall determine. 

5.1.7 Other Awards.   The other types of awards that may be granted under this Plan include:
(a) stock bonuses, performance stock, performance units, dividend equivalents, or similar rights to purchase or acquire shares, whether at a fixed or variable price or ratio related to the Common Stock (subject to the requirements of
Section 5.1.1 and in compliance with applicable laws), upon the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions, or any combination thereof; or (b) any similar
securities with a value derived from the value of or related to the Common Stock and/or returns thereon. 
 5.2
Section 162(m) Performance-Based Awards.   To the extent applicable, and without limiting the generality of the foregoing, any of the types of awards listed in Sections 5.1.4 through 5.1.7 above may be, and
options and SARs granted with an exercise or base price not less than the Fair Market Value of a share of Common Stock at the date of grant (“Qualifying Options” and “Qualifying SARs,” respectively) may be granted
as awards intended to satisfy the requirements for “performance-based compensation” within the meaning of Section 162(m) of the Code (“Performance-Based Awards”). The grant, vesting, exercisability or payment of
Performance-Based Awards may depend (or, in the case of Qualifying Options or Qualifying SARs, may also depend) on the degree of achievement of one or more performance goals relative to a pre-established targeted level or levels using the Business
Criteria provided for below for the Corporation on a consolidated basis or for one or more of the Corporation’s subsidiaries, segments, divisions or business units, or any combination of the foregoing. Such criteria may be evaluated on an
absolute basis or relative to prior periods, industry peers, or stock market indices. Any Qualifying Option or Qualifying SAR shall be subject to the requirements of Section 5.2.1 and 5.2.3 in order for such award to satisfy the requirements
for “performance-based compensation” under Section 162(m) of the Code. Any other Performance-Based Award shall be subject to all of the following provisions of this Section 5.2. 

5.2.1 Class; Administrator.   The eligible class of persons for Performance-Based Awards under
this Section 5.2 shall be officers and employees of the Corporation or one of its Subsidiaries. The Administrator approving Performance-Based Awards or making any certification required pursuant to Section 5.2.4 must be constituted as
provided in Section 3.1 for awards that are intended as performance-based compensation under Section 162(m) of the Code. 

5.2.2 Performance Goals.   The specific performance goals for Performance-Based Awards (other
than Qualifying Options and Qualifying SARs) shall be, on an absolute or relative basis, established based on such business criteria as selected by the Administrator in its sole discretion (“Business Criteria”), including the
following: (1) earnings per share, (2) cash flow (which means cash and cash equivalents derived from either (i) net cash flow from operations or (ii) net cash flow from operations, financing and investing activities),
(3) total stockholder return, (4) price per share of Common Stock, (5) gross revenue, (6) revenue growth, (7) operating income (before or after taxes), (8) net earnings (before or after interest, taxes, depreciation
and/or amortization), 

  
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(9) return on equity, (10) capital employed, or on assets or on net investment, (11) cost containment or reduction, (12) cash cost per ounce of production, (13) operating
margin, (14) debt reduction, (15) resource amounts, (16) production or production growth, (17) resource replacement or resource growth, (18) successful completion of financings, or (19) any combination of the foregoing.
To qualify awards as performance-based under Section 162(m), the applicable Business Criterion (or Business Criteria, as the case may be) and specific performance goal or goals (“targets”) must be established and approved by the
Administrator during the first 90 days of the performance period (and, in the case of performance periods of less than one year, in no event after 25% or more of the performance period has elapsed) and while performance relating to such target(s)
remains substantially uncertain within the meaning of Section 162(m) of the Code. Performance targets shall be adjusted to mitigate the unbudgeted impact of material, unusual or nonrecurring gains and losses, accounting changes or other
extraordinary events not foreseen at the time the targets were set unless the Administrator provides otherwise at the time of establishing the targets; provided that the Administrator may not make any adjustment to the extent it would adversely
affect the qualification of any compensation payable under such performance targets as “performance-based compensation” under Section 162(m) of Code. The applicable performance measurement period may not be less than 3 months nor more
than 10 years. Notwithstanding the foregoing, the Administrator may grant Performance Based Awards that are not intended to comply with Section162(m) of the Code prior to such time that the Corporation becomes required to file reports under either
Section 13 or 15(d) of the Exchange Act. 
 5.2.3 Form of Payment.   Grants or
awards intended to qualify under this Section 5.2 may be paid in cash or shares of Common Stock or any combination thereof as determined by the Administrator. 

5.2.4 Certification of Payment.   Before any Performance-Based Award under this
Section 5.2 (other than Qualifying Options and Qualifying SARs) is paid and to the extent required to qualify the award as performance-based compensation within the meaning of Section 162(m) of the Code, the Administrator must certify in
writing that the performance target(s) and any other material terms of the Performance-Based Award were in fact timely satisfied. 

5.2.5 Reservation of Discretion.   The Administrator will have the discretion to
determine the restrictions or other limitations of the individual awards granted under this Section 5.2 including the authority to reduce awards, payouts or vesting or to pay no awards, in its sole discretion, if the Administrator preserves
such authority at the time of grant by language to this effect in its authorizing resolutions or otherwise. 

5.2.6 Expiration of Grant Authority.   As required pursuant to Section 162(m) of
the Code and the regulations promulgated thereunder, the Administrator’s authority to grant new awards that are intended to qualify as performance-based compensation within the meaning of Section 162(m) of the Code (other than Qualifying
Options and Qualifying SARs) shall terminate upon the first meeting of the Corporation’s stockholders that occurs in the fifth year following the year in which the Corporation’s stockholders first approve this Plan (the “162(m)
Term”). 
 5.2.7 Compensation Limitations.   The maximum aggregate number of
shares of Common Stock that may be issued to any Eligible Person during the term of this Plan pursuant to Qualifying Options and Qualifying SARs may not exceed 6,000,000 shares of Common Stock. The maximum aggregate number of shares of Common Stock
that may be issued to any Eligible Person pursuant to Performance-Based Awards granted during the 162(m) Term (other than cash awards granted pursuant to Section 5.1.6 and Qualifying Options or Qualifying SARs) may not exceed 3,000,000 shares
of Common Stock. The maximum amount that may be paid to any Eligible Person pursuant to Performance-Based Awards granted pursuant to Sections 5.1.6 (cash awards) during the 162(m) Term may not exceed $1,000,000. Notwithstanding the foregoing, the
foregoing limitations shall not be apply if Section 162(m) of the Code is not applicable. 
 5.3 Award
Agreements.   Each award shall be evidenced by a written or electronic award agreement in the form approved by the Administrator and, if required by the Administrator, executed by the recipient of the award. The
Administrator may authorize any officer of the Corporation (other than the particular award recipient) to execute any or all award agreements on behalf of the Corporation (electronically or otherwise). The award agreement shall set forth the
material terms and conditions of the award and such other terms as may be established by the Administrator consistent with the express limitations of this Plan. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 5.4
Deferrals and Settlements.   Payment of awards may be in the form of cash, Common Stock, other awards or combinations thereof as the administrator shall determine, and with such restrictions as it may impose. The
Administrator may also require or permit participants to elect to defer the issuance of shares of Common Stock or the settlement of awards in cash under such rules and procedures as it may establish under this Plan. The Administrator may also
provide that deferred settlements include the payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend equivalents where the deferred amounts are denominated in shares. All mandatory or
elective deferrals of the issuance of shares of Common Stock or the settlement of cash awards shall be structured in a manner that is intended to comply with, or be exempt from, the requirements of Section 409A of the Code. 

5.5 Consideration for Common Stock or Awards.   The purchase price for any award granted
under this Plan or the Common Stock to be delivered pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator and subject to compliance with applicable laws, including, without
limitation, one or a combination of the following methods: 
  

	 	●	 	 services rendered or to be rendered by the recipient of such award; 

 

	 	●	 	 cash, check payable to the order of the Corporation, or electronic funds transfer; 

 

	 	●	 	 notice and third party payment in such manner as may be authorized by the Administrator; 

 

	 	●	 	 the delivery of previously owned shares of Common Stock that are fully vested and unencumbered; 

 

	 	●	 	 by a reduction in the number of shares otherwise deliverable pursuant to the award; or 

 

	 	●	 	 subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third party who provides financing
for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. 

 In the event
that the Administrator allows a participant to exercise an award by delivering shares of Common Stock previously owned by such participant and unless otherwise expressly provided by the Administrator, any shares delivered which were initially
acquired by the participant from the Corporation (upon exercise of a stock option or otherwise) must have been owned by the participant at least six months as of the date of delivery (or such other period as may be required by the Administrator in
order to avoid adverse accounting treatment). Shares of Common Stock used to satisfy the exercise price of an option shall be valued at their Fair Market Value on the date of exercise. The Corporation will not be obligated to deliver any shares
unless and until it receives full payment of the exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase, as established from time to time by the
Administrator, have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the Administrator may at any time eliminate or limit a participant’s ability to pay the purchase or exercise price of any award by any
method other than cash payment to the Corporation. 
 5.6 Definition of Fair Market Value.
  For purposes of this Plan “Fair Market Value” shall mean, unless otherwise determined or provided by the Administrator in the circumstances, the closing price for a share of Common Stock on the trading day
immediately before the grant date, as furnished by the NASDAQ Stock Market or other principal stock exchange on which the Common Stock is then listed for the date in question, or if the Common Stock is no longer listed on a principal stock exchange,
then by the Over-the-Counter Bulletin Board or OTC Markets If the Common Stock is no longer listed on the NASDAQ Capital Market or listed on a principal stock exchange or is not actively traded on the Over-the-Counter Bulletin Board or OTC Markets
as of the applicable date, the Fair Market Value of the Common Stock shall be the value as reasonably determined by the Administrator for purposes of the award in the circumstances and shall comply with any requirements imposed under
Section 409A of the Code and/or Section 422 of the Code, if and to the extent applicable. 

  
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 5.7
Transfer Restrictions. 
 5.7.1 Limitations on Exercise and
Transfer.   Unless otherwise expressly provided in (or pursuant to) this Section 5.7, by applicable law and by the award agreement, as the same may be amended, (a) all awards are nontransferable and shall not be
subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; (b) awards shall be exercised only by the participant; and (c) amounts payable or shares issuable pursuant to any award shall be
delivered only to (or for the account of) the participant. 
 5.7.2 Exceptions.
  The Administrator may permit awards to be exercised by and paid to, or otherwise transferred to, other persons or entities pursuant to such conditions and procedures, including limitations on subsequent transfers, as the
Administrator may, in its sole discretion, establish in writing (provided that any such transfers of ISOs shall be limited to the extent permitted under the federal tax laws governing ISOs). Any permitted transfer shall be subject to compliance with
applicable federal and state securities laws. 
 5.7.3 Further Exceptions to Limits on
Transfer.   The exercise and transfer restrictions in Section 5.7.1 shall not apply to: 

(a) transfers to the Corporation, 

(b) the designation of a beneficiary to receive benefits in the event of the participant’s death or, if the participant
has died, transfers to or exercise by the participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution, 

(c) subject to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a
domestic relations order if approved or ratified by the Administrator, 
 (d) subject to any applicable limitations on ISOs,
if the participant has suffered a disability, permitted transfers or exercises on behalf of the participant by his or her legal representative, or 

(e) the authorization by the Administrator of “cashless exercise” procedures with third parties who provide
financing for the purpose of (or who otherwise facilitate) the exercise of awards consistent with applicable laws and the express authorization of the Administrator. 

5.8 International Awards.   One or more awards may be granted to Eligible Persons who
provide services to the Corporation or one of its Subsidiaries outside of the United States. Any awards granted to such persons may, if deemed necessary or advisable by the Administrator, be granted pursuant to the terms and conditions of any
applicable sub-plans, if any, appended to this Plan and approved by the Administrator. 
 5.9
Vesting.   Subject to Section 5.1.2 hereof, awards shall vest at such time or times and subject to such terms and conditions as shall be determined by the Administrator at the time of grant; provided,
however, that in the absence of any award vesting periods designated by the Administrator at the time of grant in the applicable award agreement, awards shall vest as to one-third of the total number of shares subject to the award on each of the
first, second and third anniversaries of the date of grant. 

  
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	6.	 EFFECT OF TERMINATION OF SERVICE ON AWARDS 

6.1 Termination of Employment. 

6.1.1     The Administrator shall establish the effect of a termination of employment or service on
the rights and benefits under each award under this Plan and in so doing may make distinctions based upon, inter alia, the cause of termination and type of award. If the participant is not an employee of the Corporation or one of its Subsidiaries
and provides other services to the Corporation or one of its Subsidiaries, the Administrator shall be the sole judge for purposes of this Plan (unless a contract or the award agreement otherwise provides) of whether the participant continues to
render services to the Corporation or one of its Subsidiaries and the date, if any, upon which such services shall be deemed to have terminated. 

6.1.2     For awards of stock options or SARs, unless the award agreement provides otherwise, the
exercise period of such options or SARs shall expire: (1) three months after the last day that the participant is employed by or provides services to the Corporation or a Subsidiary (provided; however, that in the event of the
participant’s death during this period, those persons entitled to exercise the option or SAR pursuant to the laws of descent and distribution shall have one year following the date of death within which to exercise such option or SAR);
(2) in the case of a participant whose termination of employment is due to death or disability (as defined in the applicable award agreement), 12 months after the last day that the participant is employed by or provides services to the
Corporation or a Subsidiary; and (3) immediately upon a participant’s termination for “cause”. The Administrator will, in its absolute discretion, determine the effect of all matters and questions relating to a termination of
employment, including, but not by way of limitation, the question of whether a leave of absence constitutes a termination of employment and whether a participant’s termination is for “cause.” 

If not otherwise defined in the applicable award agreement, employment agreement or similar agreement,
“Cause” shall mean: 
 (i)        conviction of a felony or a
crime involving fraud or moral turpitude; or 
 (ii)        theft, material act of
dishonesty or fraud, intentional falsification of any employment or Company records, or commission of any criminal act which impairs participant’s ability to perform appropriate employment duties for the Corporation; or 

(iii)        intentional or reckless conduct or gross negligence materially harmful
to the Company or the successor to the Corporation after a Change in Control, including violation of a non-competition or confidentiality agreement; or 

(iv)        willful failure to follow lawful instructions of the person or body to
which participant reports; or 
 (v)        gross negligence or willful misconduct
in the performance of participant’s assigned duties. Cause shall not include mere unsatisfactory performance in the achievement of participant’s job objectives. 

6.1.3         For awards of restricted shares, unless the award agreement
provides otherwise, restricted shares that are subject to restrictions at the time that a participant whose employment or service is terminated shall be forfeited and reacquired by the Corporation without the payment of any consideration for the
forfeiture of such shares; provided that, the Administrator may provide, by rule or regulation or in any award agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to restricted shares shall
be waived in whole or in part in the event of terminations resulting from specified causes, and the Administrator may in other cases waive in whole or in part the forfeiture of restricted shares. Similar rules shall apply in respect of RSUs. 

6.2 Events Not Deemed Terminations of Service.   Unless the express policy of the
Corporation or one of its Subsidiaries, or the Administrator, otherwise provides, the employment relationship shall not be considered terminated in the case of (a) sick leave, (b) military leave, or (c) any other leave of absence
authorized by the Corporation or one of its Subsidiaries, or the Administrator; provided that unless reemployment upon the expiration of such leave is guaranteed by contract or law, such leave is for a period of not more than 3 months. In the case
of any employee of the Corporation or one of its Subsidiaries on an approved leave of absence, continued vesting of the award while on leave from the employ of the Corporation or one of its Subsidiaries may be suspended until the employee returns to
service, unless the Administrator otherwise provides or applicable law otherwise requires. In no event shall an award be exercised after the expiration of the term set forth in the award agreement. 

  
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 6.3
Effect of Change of Subsidiary Status.   For purposes of this Plan and any award, if an entity ceases to be a Subsidiary of the Corporation, a termination of employment or service shall be deemed to have occurred
with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in respect of another entity within the Corporation or another Subsidiary that continues as such after giving effect to the transaction or
other event giving rise to the change in status. 
  

	7.	 ADJUSTMENTS; ACCELERATION 

7.1         Adjustments.   Upon or in contemplation of
any of the following events described in this Section 7.1, any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split (“stock split”); any merger,
arrangement, combination, consolidation, or other reorganization; any spin-off, split-up, or similar extraordinary dividend distribution in respect of the Common Stock (whether in the form of securities or property); any exchange of Common Stock or
other securities of the Corporation, or any similar, unusual or extraordinary corporate transaction in respect of the Common Stock; then the Administrator shall in such manner, to such extent and at such time as it deems appropriate and equitable in
the circumstances (but subject to compliance with applicable laws and any stock exchange requirements) proportionately adjust any or all of (1) the number and type of shares of Common Stock (or other securities) that thereafter may be made the
subject of awards (including the number of shares provided for in this Plan), (2) the number, amount and type of shares of Common Stock (or other securities or property) subject to any or all outstanding awards, (3) the grant, purchase, or
exercise price (which term includes the base price of any SAR or similar right) of any or all outstanding awards, (4) the securities, cash or other property deliverable upon exercise or payment of any outstanding awards, and (5) the 162(m)
compensation limitations set forth in Section 5.2.7, if applicable, and (subject to Section 8.8.3(a)) the performance standards applicable to any outstanding awards (provided that no adjustment shall be allowed to the extent inconsistent
with the requirements of Code Section 162(m), if applicable). Any adjustment made pursuant to this Section 7.1 shall be made in a manner that, in the good faith determination of the Administrator, will not likely result in the imposition
of additional taxes or interest under Section 409A of the Code. With respect to any award of an ISO, the Administrator may make such an adjustment that causes the option to cease to qualify as an ISO without the consent of the affected
participant. 
 7.2         Change in Control.
  Unless an award agreement provides otherwise, upon a Change in Control, each then-outstanding option and SAR shall automatically become fully vested, all restricted shares then outstanding shall automatically fully vest free of
restrictions, and each other award granted under this Plan that is then outstanding shall automatically become vested and payable to the holder of such award unless the Administrator has made appropriate provision for the substitution,
assumption, exchange or other continuation of the award pursuant to the Change in Control. Notwithstanding the foregoing, the Administrator, in its sole and absolute discretion, may choose (in an award agreement or otherwise) to provide for full or
partial accelerated vesting of any award upon a Change In Control (or upon any other event or other circumstance related to the Change in Control, such as an involuntary termination of employment occurring after such Change in Control, as the
Administrator may determine), irrespective of whether such any such award has been substituted, assumed, exchanged or otherwise continued pursuant to the Change in Control. 

For purposes of this Plan, “Change in Control” shall, unless the Administrator determines otherwise, be
deemed to have occurred if: 
 (i)        a tender offer (or series of related offers) shall be made
and consummated for the ownership of 50% or more of the outstanding voting securities of the Corporation, unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be
owned in the aggregate by the stockholders of the Corporation (as of the time immediately prior to the commencement of such offer), any employee benefit plan of the Corporation or its Subsidiaries, and their affiliates; 

  
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(ii)        the Corporation shall be merged or consolidated with another entity, unless as a result of
such merger or consolidation more than 50% of the outstanding voting securities of the surviving or resulting entity shall be owned in the aggregate by the stockholders of the Corporation (as of the time immediately prior to such transaction), any
employee benefit plan of the Corporation or its Subsidiaries, and their affiliates; 

(iii)        the Corporation shall sell substantially all of its assets to another entity that is not
wholly owned by the Corporation, unless as a result of such sale more than 50% of such assets shall be owned in the aggregate by the stockholders of the Corporation (as of the time immediately prior to such transaction), any employee benefit plan of
the Corporation or its Subsidiaries and their affiliates; or 
 (iv)        a Person (as defined
below) shall acquire 50% or more of the outstanding voting securities of the Corporation (whether directly, indirectly, beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding voting securities of the
surviving or resulting corporation shall be owned in the aggregate by the stockholders of the Corporation (as of the time immediately prior to the first acquisition of such securities by such Person), any employee benefit plan of the Corporation or
its Subsidiaries, and their affiliates. 
 For purposes of this Section 5(c), ownership of voting securities shall take
into account and shall include ownership as determined by applying the provisions of Rule 13d-3(d)(I)(i) (as in effect on the date hereof) under the Exchange Act. In addition, for such purposes, “Person” shall have the meaning given in
Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof; provided, however, that a Person shall not include (A) the Company or any of its Subsidiaries; (B) a trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any of its Subsidiaries; (C) an underwriter temporarily holding securities pursuant to an offering of such securities; or (D) a corporation owned, directly or
indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company. 

Notwithstanding the foregoing, (1) the Administrator may waive the requirement described in paragraph (iv) above
that a Person must acquire more than 50% of the outstanding voting securities of the Corporation for a Change in Control to have occurred if the Administrator determines that the percentage acquired by a person is significant (as determined by the
Administrator in its discretion) and that waiving such condition is appropriate in light of all facts and circumstances, and (2) no compensation that has been deferred for purposes of Section 409A of the Code shall be payable as a result
of a Change in Control unless the Change in Control qualifies as a change in ownership or effective control of the Corporation within the meaning of Section 409A of the Code. 

7.3         Early Termination of Awards.   Any award
that has been accelerated as required or permitted by Section 7.2 upon a Change in Control (or would have been so accelerated but for Section 7.4 or 7.5) shall terminate upon such event, subject to any provision that has been expressly
made by the Administrator, through a plan of reorganization or otherwise, for the survival, substitution, assumption, exchange or other continuation of such award and provided that, in the case of options and SARs that will not survive, be
substituted for, assumed, exchanged, or otherwise continued in the transaction, the holder of such award shall be given reasonable advance notice of the impending termination and a reasonable opportunity to exercise his or her outstanding options
and SARs in accordance with their terms before the termination of such awards (except that in no case shall more than ten days’ notice of accelerated vesting and the impending termination be required and any acceleration may be made contingent
upon the actual occurrence of the event). 
 The Administrator may make provision for payment in cash or property (or both)
in respect of awards terminated pursuant to this section as a result of the Change in Control and may adopt such valuation methodologies for outstanding awards as it deems reasonable and, in the case of options, SARs or similar rights, and without
limiting other methodologies, may base such settlement solely upon the excess if any of the per share amount payable upon or in respect of such event over the exercise or base price of the award. 

7.4         Other Acceleration Rules.   Any
acceleration of awards pursuant to this Section 7 shall comply with applicable legal and stock exchange requirements and, if necessary to accomplish the purposes of the acceleration or if the circumstances require, may be deemed by the
Administrator to occur a limited period of time 

  
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not greater than 30 days before the event. Without limiting the generality of the foregoing, the Administrator may deem an acceleration to occur immediately prior to the applicable event and/or
reinstate the original terms of an award if an event giving rise to the acceleration does not occur. Notwithstanding any other provision of the Plan to the contrary, the Administrator may override the provisions of Section 7.2, 7.3, and/or 7.5
by express provision in the award agreement or otherwise. The portion of any ISO accelerated pursuant to Section 7.2 or any other action permitted hereunder shall remain exercisable as an ISO only to the extent the applicable $100,000
limitation on ISOs is not exceeded. To the extent exceeded, the accelerated portion of the option shall be exercisable as a nonqualified stock option under the Code. 

7.5         Possible Rescission of Acceleration.   If
the vesting of an award has been accelerated expressly in anticipation of an event and the Administrator later determines that the event will not occur, the Administrator may rescind the effect of the acceleration as to any then outstanding and
unexercised or otherwise unvested awards; provided, that, in the case of any compensation that has been deferred for purposes of Section 409A of the Code, the Administrator determines that such rescission will not likely result in
the imposition of additional tax or interest under Code Section 409A. 
  

	8.	 OTHER PROVISIONS 

8.1 Compliance with Laws.   This Plan, the granting and vesting of awards under this
Plan, the offer, issuance and delivery of shares of Common Stock, the acceptance of promissory notes and/or the payment of money under this Plan or under awards are subject to compliance with all applicable federal and state laws, rules and
regulations (including but not limited to state and federal securities law, federal margin requirements) and to such approvals by any applicable stock exchange listing, regulatory or governmental authority as may, in the opinion of counsel for the
Corporation, be necessary or advisable in connection therewith. The person acquiring any securities under this Plan will, if requested by the Corporation or one of its Subsidiaries, provide such assurances and representations to the Corporation or
one of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting requirements. 

8.2 Future Awards/Other Rights.   No person shall have any claim or rights to be granted
an award (or additional awards, as the case may be) under this Plan, subject to any express contractual rights (set forth in a document other than this Plan) to the contrary. 

8.3 No Employment/Service Contract.   Nothing contained in this Plan (or in any other
documents under this Plan or in any award) shall confer upon any Eligible Person or other participant any right to continue in the employ or other service of the Corporation or one of its Subsidiaries, constitute any contract or agreement of
employment or other service or affect an employee’s status as an employee at will, nor shall it interfere in any way with the right of the Corporation or one of its Subsidiaries to change a person’s compensation or other benefits, or to
terminate his or her employment or other service for any reason with or without cause. Nothing in this Section 8.3, however, is intended to adversely affect any express independent right of such person under a separate employment or service
contract other than an award agreement. 
 8.4 Plan Not Funded.   Awards
payable under this Plan shall be payable in shares or from the general assets of the Corporation, and no special or separate reserve, fund or deposit shall be made to assure payment of such awards. No participant, beneficiary or other person shall
have any right, title or interest in any fund or in any specific asset (including shares of Common Stock, except as expressly otherwise provided) of the Corporation or one of its Subsidiaries by reason of any award hereunder. Neither the provisions
of this Plan (or of any related documents), nor the creation or adoption of this Plan, nor any action taken pursuant to the provisions of this Plan shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the
Corporation or one of its Subsidiaries and any participant, beneficiary or other person. To the extent that a participant, beneficiary or other person acquires a right to receive payment pursuant to any award hereunder, such right shall be no
greater than the right of any unsecured general creditor of the Corporation. 

  
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 8.5
Tax Withholding.   Upon any exercise, vesting, or payment of any award, the Corporation or one of its Subsidiaries shall have the right at its option to: 

(a) require the participant (or the participant’s personal representative or beneficiary, as the case may be) to pay or
provide for payment of at least the minimum amount of any taxes which the Corporation or one of its Subsidiaries may be required to withhold with respect to such award event or payment; or 

(b) deduct from any amount otherwise payable in cash to the participant (or the participant’s personal representative or
beneficiary, as the case may be) the minimum amount of any taxes which the Corporation or one of its Subsidiaries may be required to withhold with respect to such cash payment. 

In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Plan,
the Administrator may in its sole discretion (subject to Section 8.1) grant (either at the time of the award or thereafter) to the participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may
establish, to have the Corporation reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their Fair Market Value or at the sales price in accordance with authorized
procedures for cashless exercises, necessary to satisfy the minimum applicable withholding obligation on exercise, vesting or payment. In no event shall the shares withheld exceed the minimum whole number of shares required for tax withholding under
applicable law. 
 8.6 Effective Date, Termination and Suspension, Amendments. 

8.6.1 Effective Date and Termination.   This Plan was approved by the Board and became
effective on March 17, 2014. Unless earlier terminated by the Board, this Plan shall terminate at the close of business on March 16, 2024. After the termination of this Plan either upon such stated expiration date or its earlier
termination by the Board, no additional awards may be granted under this Plan, but previously granted awards (and the authority of the Administrator with respect thereto, including the authority to amend such awards) shall remain outstanding in
accordance with their applicable terms and conditions and the terms and conditions of this Plan. 
 8.6.2 Board
Authorization.   The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. No awards may be granted during any period that the Board suspends this Plan. 

8.6.3 Stockholder Approval.   To the extent then required by applicable law or any applicable
stock exchange or required under Sections 162, 422 or 424 of the Code to preserve the intended tax consequences of this Plan, or deemed necessary or advisable by the Board, this Plan and any amendment to this Plan shall be subject to stockholder
approval. 
 8.6.4 Amendments to Awards.   Without limiting any other express authority of
the Administrator under (but subject to) the express limits of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on awards to participants that the Administrator in the prior exercise of its discretion
has imposed, without the consent of a participant, and (subject to the requirements of Sections 3.2 and 8.6.5) may make other changes to the terms and conditions of awards. Any amendment or other action that would constitute a repricing of an award
is subject to the limitations set forth in Section 3.2(g). 
 8.6.5 Limitations on Amendments to Plan and
Awards.   No amendment, suspension or termination of this Plan or change of or affecting any outstanding award shall, without written consent of the participant, affect in any manner materially adverse to the participant any rights
or benefits of the participant or obligations of the Corporation under any award granted under this Plan prior to the effective date of such change. Changes, settlements and other actions contemplated by Section 7 shall not be deemed to
constitute changes or amendments for purposes of this Section 8.6. 

  
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 8.7
Privileges of Stock Ownership.   Except as otherwise expressly authorized by the Administrator or this Plan, a participant shall not be entitled to any privilege of stock ownership as to any shares of Common Stock not
actually delivered to and held of record by the participant. No adjustment will be made for dividends or other rights as a stockholder for which a record date is prior to such date of delivery. 

8.8 Governing Law; Construction; Severability. 

8.8.1 Choice of Law.   This Plan, the awards, all documents evidencing awards and all other
related documents shall be governed by, and construed in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of laws and in accordance with applicable U.S. federal laws. 

8.8.2 Severability.   If a court of competent jurisdiction holds any provision invalid and
unenforceable, the remaining provisions of this Plan shall continue in effect. 
 8.8.3 Plan
Construction. 
 (a) Rule 16b-3.   To the extent applicable, it is the intent of the Corporation
that the awards and transactions permitted by awards be interpreted in a manner that, in the case of participants who are or may be subject to Section 16 of the Exchange Act, qualify, to the maximum extent compatible with the express terms of
the award, for exemption from matching liability under Rule 16b-3 promulgated under the Exchange Act. Notwithstanding the foregoing, the Corporation shall have no liability to any participant for Section 16 consequences of awards or events
under awards if an award or event does not so qualify. 
 (b) Section 162(m).   To the extent
applicable, awards under Sections 5.1.4 through 5.1.7 to persons described in Section 5.2 that are either granted or become vested, exercisable or payable based on attainment of one or more performance goals related to the Business Criteria, as
well as Qualifying Options and Qualifying SARs granted to persons described in Section 5.2, that are approved by a committee composed solely of two or more outside directors (as this requirement is applied under Section 162(m) of the Code)
shall be deemed to be intended as performance-based compensation within the meaning of Section 162(m) of the Code unless such committee provides otherwise at the time of grant of the award. It is the further intent of the Corporation that (to
the extent the Corporation or one of its Subsidiaries or awards under this Plan may be or become subject to limitations on deductibility under Section 162(m) of the Code) any such awards and any other Performance-Based Awards under
Section 5.2 that are granted to or held by a person subject to Section 162(m) will qualify as performance-based compensation or otherwise be exempt from deductibility limitations under Section 162(m). 

(c) Code Section 409A Compliance.   The Board intends that, except as may be otherwise determined by the
Administrator, any awards under the Plan are either exempt from or satisfy the requirements of Section 409A of the Code and related regulations and Treasury pronouncements (“Section 409A”) to avoid the imposition of any taxes,
including additional income or penalty taxes, thereunder. If the Administrator determines that an award, award agreement, acceleration, adjustment to the terms of an award, payment, distribution, deferral election, transaction or any other action or
arrangement contemplated by the provisions of the Plan would, if undertaken, cause a participant’s award to become subject to Section 409A, unless the Administrator expressly determines otherwise, such award, award agreement, payment,
acceleration, adjustment, distribution, deferral election, transaction or other action or arrangement shall not be undertaken and the related provisions of the Plan and/or award agreement will be deemed modified or, if necessary, rescinded in order
to comply with the requirements of Section 409A to the extent determined by the Administrator without the content or notice to the participant. Notwithstanding the foregoing, neither the Company nor the Administrator shall have any obligation
to take any action to prevent the assessment of any excise tax or penalty on any participant under Section 409A and neither the Company nor the Administrator will have any liability to any participant for such tax or penalty. 

(d) No Guarantee of Favorable Tax Treatment.   Although the Company intends that awards under the Plan will
be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not warrant that any award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of
federal, state, local or foreign law. The Company shall not be liable to any participant for any tax, interest or penalties the participant might owe as a result of the grant, holding, vesting, exercise or payment of any award under the Plan. 

  
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 8.9
Captions.   Captions and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the
construction or interpretation of this Plan or any provision thereof. 
 8.10 Stock-Based Awards in
Substitution for Stock Options or Awards Granted by Other Corporation.   Awards may be granted to Eligible Persons in substitution for or in connection with an assumption of employee stock options, SARs, restricted stock or other
stock-based awards granted by other entities to persons who are or who will become Eligible Persons in respect of the Corporation or one of its Subsidiaries, in connection with a distribution, arrangement, business combination, merger or other
reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Corporation or one of its Subsidiaries, directly or indirectly, of all or a substantial part of the stock or assets of the employing entity. The awards
so granted need not comply with other specific terms of this Plan, provided the awards reflect only adjustments giving effect to the assumption or substitution consistent with the conversion applicable to the Common Stock in the transaction and any
change in the issuer of the security. Any shares that are delivered and any awards that are granted by, or become obligations of, the Corporation, as a result of the assumption by the Corporation of, or in substitution for, outstanding awards
previously granted by an acquired company (or previously granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Corporation or one of its Subsidiaries in connection with a business
or asset acquisition or similar transaction) shall not be counted against the Share Limit or other limits on the number of shares available for issuance under this Plan, except as may otherwise be provided by the Administrator at the time of such
assumption or substitution or as may be required to comply with the requirements of any applicable stock exchange. 

8.11 Non-Exclusivity of Plan.   Nothing in this Plan shall limit or be deemed to limit the
authority of the Board or the Administrator to grant awards or authorize any other compensation, with or without reference to the Common Stock, under any other plan or authority. 

8.12 No Corporate Action Restriction.   The existence of this Plan, the award agreements and
the awards granted hereunder shall not limit, affect or restrict in any way the right or power of the Board or the stockholders of the Corporation to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the
capital structure or business of the Corporation or any Subsidiary, (b) any merger, arrangement, business combination, amalgamation, consolidation or change in the ownership of the Corporation or any Subsidiary, (c) any issue of bonds,
debentures, capital, preferred or prior preference stock ahead of or affecting the capital stock (or the rights thereof) of the Corporation or any Subsidiary, (d) any dissolution or liquidation of the Corporation or any Subsidiary, (e) any
sale or transfer of all or any part of the assets or business of the Corporation or any Subsidiary, or (f) any other corporate act or proceeding by the Corporation or any Subsidiary. No participant, beneficiary or any other person shall have
any claim under any award or award agreement against any member of the Board or the Administrator, or the Corporation or any employees, officers or agents of the Corporation or any Subsidiary, as a result of any such action. 

8.13 Other Corporation Benefit and Compensation Programs.   Payments and other benefits
received by a participant under an award made pursuant to this Plan shall not be deemed a part of a participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if
any, provided by the Corporation or any Subsidiary, except where the Administrator expressly otherwise provides or authorizes in writing or except as otherwise specifically set forth in the terms and conditions of such other employee welfare or
benefit plan or arrangement. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, awards or commitments under any other plans or arrangements of the Corporation or its Subsidiaries. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 8.14
Prohibition on Repricing.   After such time that the Corporation becomes required to file reports under either Section 13 or 15(d) of the Exchange Act and subject to Section 4, the Administrator shall
not, without the approval of the stockholders of the Corporation (i) reduce the exercise price, or cancel and reissue options so as to in effect reduce the exercise price or (ii) change the manner of determining the exercise price so that
the exercise price is less than the fair market value per share of Common Stock. 
 As adopted by the Board of Directors of Conkwest, Inc.
on March 17, 2014. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 CONKWEST, INC. 2014 EQUITY INCENTIVE
PLAN 
 INCENTIVE STOCK OPTION AGREEMENT 

This INCENTIVE STOCK OPTION AGREEMENT (the “Option Agreement”), dated as of the
[    ] day of [    ], 20[    ] and effective as of [    ], 20[    ] (the “Grant Date”), is between
Conkwest, Inc. a Delaware corporation (the “Company”), and [    ] (the “Optionee”), a employee of the Company or of a Subsidiary of the Company (a “Related Corporation”), pursuant to Conkwest,
Inc. 2014 Equity Incentive Plan (the “Plan”). 
 WHEREAS, the Company desires to give the Optionee the
opportunity to purchase shares of common stock of the Company, par value $0.0001 (“Common Shares”) in accordance with the provisions of the Plan, a copy of which is attached hereto; 

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable
consideration, the parties hereto, intending to be legally bound hereby, agree as follows: 

1.         Grant of Option. The Company hereby grants to the Optionee the right and
option (the “Option”) to purchase all or any part of an aggregate of [    ] (            ) Common Shares. The Option is in all
respects limited and conditioned as hereinafter provided, and is subject in all respects to the terms and conditions of the Plan now in effect and as it may be amended from time to time (but only to the extent that such amendments apply to
outstanding options). Such terms and conditions are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms of this Option Agreement. The Option granted hereunder is
intended to be an incentive stock option (“ISO”) meeting the requirements of the Plan and section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), and not a nonqualified stock option (“NQSO”).
To the extent this Option (or any portion hereof) does not qualify as an ISO, it shall be treated as a NQSO. 

2.         Exercise Price. The exercise price of the Common Shares covered by this
Option shall be $             per share. It is the determination of the committee administering the Plan (the “Committee”) that on the Grant Date the exercise price
was not less than the greater of (i) 100% (110% for an Optionee who owns more than 10% of the total combined voting power of all shares of stock of the Company or of a Related Corporation – a “More-Than-10% Owner”) of the
“Fair Market Value” (as defined in the Plan) of a Common Share, or (ii) the par value of a Common Share. 

3.         Term. Unless earlier terminated pursuant to any provision of the Plan or
of this Option Agreement, this Option shall expire on [            ] (the “Expiration Date”), which date is not more than 10 years (five years in the case of a
More-Than-10% Owner) from the Grant Date. This Option shall not be exercisable on or after the Expiration Date. 

4.         Exercise of Option. The Option shall vest in
[            ] equal installments on each [            ] of the date hereof, provided that Optionee remains
continuously engaged as a director, officer or employee of, or consultant or advisor to, the Company or a Related Corporation from the date hereof through the applicable vesting date. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 The Committee may accelerate any
vesting date of the Option, in its discretion, if it deems such acceleration to be desirable. Once the Option becomes exercisable, it will remain exercisable until it is exercised or until it terminates. 

5.         Method of Exercising Option. Subject to the terms and conditions of this
Option Agreement and the Plan, the Option may be exercised by written notice to the Company at its principal office. The form of such notice is attached hereto and shall state the election to exercise the Option and the number of whole shares
with respect to which it is being exercised; shall be signed by the person or persons so exercising the Option; and shall be accompanied by payment of the full exercise price of such shares. Only full shares will be issued. 

The exercise price shall be paid to the Company: 

(a)     in cash, or by certified check, bank draft, or postal or express money order; 

(b)     through the delivery of Common Shares previously acquired by the Optionee; 

(c)     by delivering a properly executed notice of exercise of the Option to the Company and a broker, with
irrevocable instructions to the broker promptly to deliver to the Company the amount necessary to pay the exercise price of the Option; 

(d)     in Common Shares newly acquired by the Optionee upon exercise of the Option (which shall constitute a
disqualifying disposition with respect to this ISO); or 
 (e)     in any combination of (a), (b), (c) or (d) above. 

In the event the exercise price is paid, in whole or in part, with Common Shares, the portion of the exercise price so paid shall be equal to
the Fair Market Value of the Common Shares surrendered on the date of exercise. 
 Upon receipt of notice of exercise and payment, the
Company shall deliver a certificate or certificates representing the Common Shares with respect to which the Option is so exercised. The Optionee shall obtain the rights of a shareholder upon receipt of a certificate(s) representing such Common
Shares. 
 Such certificate(s) shall be registered in the name of the person so exercising the Option (or, if the Option is exercised by the
Optionee and if the Optionee so requests in the notice exercising the Option, shall be registered in the name of the Optionee and the Optionee’s spouse, jointly, with right of survivorship), and shall be delivered as provided above to, or upon
the written order of, the person exercising the Option. In the event the Option is exercised by any person after the death or disability (as determined in accordance with Section 22(e)(3) of the Code) of the Optionee, the notice shall be
accompanied by appropriate proof of the right of such person to exercise the Option. All Common Shares that are purchased upon exercise of the Option as provided herein shall be fully paid and non-assessable. 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 Upon exercise of the Option, Optionee
shall be responsible for all employment and income taxes then or thereafter due (whether Federal, State or local), and if the Optionee does not remit to the Company sufficient cash (or, with the consent of the Committee, Common Shares) to satisfy
all applicable withholding requirements, the Company shall be entitled to satisfy any withholding requirements for any such tax by disposing of Common Shares at exercise, withholding cash from Optionee’s salary or other compensation or such
other means as the Committee considers appropriate to the fullest extent permitted by applicable law. Nothing in the preceding sentence shall impair or limit the Company’s rights with respect to satisfying withholding obligations under
Section 8.5 of the Plan. 
 6.         Non-Transferability of Option. This Option
is not assignable or transferable, in whole or in part, by the Optionee other than by will or by the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable only by the Optionee or, in the event of
his or her disability, by his or her guardian or legal representative. 
 7.         Change
in Control. (a)   For purposes of this Option Agreement, unless otherwise defined in an agreement between the Company and the Optionee, a Change in Control shall be deemed to have occurred if: 

(i)       a tender offer (or series of related offers) shall be made and consummated for the ownership of 50% or
more of the outstanding voting securities of the Company, unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the
Company (as of the time immediately prior to the commencement of such offer), any employee benefit plan of the Company or its subsidiaries, and their affiliates; 

(ii)       the Company shall be merged or consolidated with another corporation, unless as a result of such
merger or consolidation more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the Company (as of the time immediately prior to such transaction), any
employee benefit plan of the Company or its subsidiaries, and their affiliates; 
 (iii)       the Company
shall sell substantially all of its assets to another corporation that is not wholly owned by the Company, unless as a result of such sale more than 50% of such assets shall be owned in the aggregate by the stockholders of the Company (as of the
time immediately prior to such transaction), any employee benefit plan of the Company or its subsidiaries and their affiliates; or 

(iv)       a Person (as defined in the Plan) shall acquire 50% or more of the outstanding voting securities of
the Company (whether directly, indirectly, beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the
stockholders of the Company (as of the time immediately prior to the first acquisition of such securities by such Person), any employee benefit plan of the Company or its subsidiaries, and their affiliates. 

  
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 (b)   If, at any time, the
Company shall effect a Change in Control transaction, then, on the date of the occurrence of such Change in Control transaction, the Option shall immediately vest. 

(c)   Notwithstanding the foregoing, if Change in Control is defined in an agreement between the Company and the Optionee, then,
with respect to such Optionee and the Option, Change in Control shall have the meaning ascribed to it in such agreement. 

8.         Termination of Employment. If the Optionee’s employment with or service to
the Company and all Related Corporations is terminated by the Optionee for any reason other than death, Disability, Normal or Early Retirement or Good Reason (as defined below), the Option shall thereupon terminate, except that the portion of any
Option that was exercisable on the date of such termination of employment or service may be exercised for the lesser of three (3) months after the date of termination or the balance of such Option’s term, which ever period is shorter. The
transfer of an Optionee from the employ of or service to the Company to the employ of or service to a Related Corporation, or vice versa, or from one Related Corporation to another, shall not be deemed to constitute a termination of employment or
service for purposes of the Option Agreement. 
 (a)    In the event that the Optionee’s employment or service with the
Company and all Related Corporations is terminated by the Company or any Related Corporations for “Cause” any unexercised portion of any Option shall immediately terminate in its entirety. For purposes hereof, unless otherwise defined in
an employment agreement between the Company and the Optionee, “Cause” shall be defined in accordance with the Plan and shall exist upon a good-faith determination by the Board of Directors, ; provided, however, that it is specifically
understood that “Cause” shall not include any act of commission or omission in the good-faith exercise of the Optionee’s business judgment as a director, officer or employee of the Company, as the case may be, or upon the advice of
counsel to the Company. Notwithstanding the foregoing, if Cause is defined in an employment agreement between the Company and the Optionee, then, with respect to such Optionee, Cause shall have the meaning ascribed to it in such employment
agreement. 
 (b) In the event that an Optionee is removed as a director, officer or employee by the Company at any time other than for
“Cause” then the Option granted to such Optionee shall immediately vest. In the event that an Optionee resigns as a director, officer of employee for “Good Reason” then the Option granted to such Optionee may be exercised by the
Optionee, to the extent the Option was exercisable on the date such Optionee ceases to be a director, officer or employee. Such Option may be exercised at any time within one (1) year after the date the Optionee ceases to be a director, officer
or employee for “Good Reason”, or the date on which the Option otherwise expires by its terms; whichever period is shorter, at which time the Option shall terminate; provided, however, if the Optionee dies before the Options terminate and
are no longer exercisable, the terms and provisions of Section 11 shall control. For purposes of this Section 8(b), and unless otherwise defined in an employment agreement between the Company and the relevant Optionee, Good Reason shall
exist upon the occurrence of the following: 
 (A) the assignment to Optionee of any duties inconsistent with the position in the Company
that Optionee held immediately prior to the assignment; 

  
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 (B) a Change in Control resulting in
a significant adverse alteration in the status or conditions of Optionee’s participation with the Company or other nature of Optionee’s responsibilities from those in effect prior to such Change in Control, including any significant
alteration in Optionee’s responsibilities immediately prior to such Change in Control; 
 (C) the failure by the Company to continue to
provide Optionee with benefits substantially similar to those enjoyed by Optionee prior to such failure (other than a reduction in benefits applicable to all, or substantially all, employees, officers or directors, as the case may be); and 

(D) a relocation of the Company’s offices or Optionee’s assigned place of work resulting in Optionee having to travel on a daily
basis more than fifty (50) miles total from Optionee’s residence, if Optionee is not permitted to regularly work from Optionee’s residence. 

Notwithstanding the foregoing, if Good Reason is defined in an employment agreement between the Company and the relevant Optionee, then, with
respect to such Optionee, Good Reason shall have the meaning ascribed to it in such employment agreement. 

9.         Disability. If the Optionee’s employment with or service to the Company
and all Related Corporations terminates by reason of Disability (as defined below), then any Option held by the Optionee may thereafter be exercised, to the extent it was exercisable at the time of termination due to Disability (or on such
accelerated basis as the Committee shall determine at or after grant), but may not be exercised after twelve (12) months after the date of such termination of employment or service or the expiration of the stated term of such Option, whichever
period is shorter; provided, however, that, if the Optionee dies within such twelve (12) month period, any unexercised Option held by the Optionee shall thereafter be exercisable to the extent to which it was exercisable at the time of death
for a period of one (1) year after the date of such death or for the stated term of such Option, whichever period is shorter. “Disability” shall mean an Optionee’s total and permanent disability; provided, that if Disability is
defined in an employment agreement between the Company and the Optionee, Disability shall have the meaning ascribed to it in such employment agreement. 

10.       Retirement. If the Optionee’s employment with or service to the Company and all Related
Corporations terminates by reason of Normal or Early Retirement (as such terms are defined below), the Option held by the Optionee may thereafter be exercised to the extent it was exercisable at the time of such Retirement, but may not be exercised
after ninety (90) days after the date of such termination of employment or service or the expiration of the stated term of such Option, whichever date is earlier; provided, however, that, if the Optionee dies within such ninety (90) day
period, any unexercised Option held by such Optionee shall thereafter be exercisable, to the extent to which it was exercisable at the time of death, for a period of one (1) year after the date of such death or for the stated term of such
Option, whichever period is shorter. 
 For purposes of this Section 10, “Normal Retirement” shall mean retirement from
active employment with the Company or any Subsidiary on or after the normal retirement date specified in the applicable Company or Subsidiary pension plan or if no such pension plan, age 65, and “Early Retirement” shall mean retirement
from active employment with the Company or and Related Corporations pursuant to the early retirement provisions of the applicable Company or and all Related Corporations pension plan or if no such pension plan, age 55. 

  
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11.         Death. If the Optionee’s employment with or service to the Company and all
Related Corporations terminates by reason of death, the Option may thereafter be exercised, to the extent then exercisable (or on such accelerated basis as the Committee shall determine at or after grant), by the legal representative of the estate
or by the legatee of the Optionee under the will of the Optionee, for a period of one (1) year after the date of such death or until the expiration of the stated term of such Option as provided under the Plan, whichever period is shorter. 

12.       Disqualifying Disposition of Option Shares. The Optionee agrees to give written notice to
the Company, at its principal office, if a “disposition” of the Common Shares acquired through exercise of the Option granted hereunder occurs at any time within two years after the Grant Date or within one year after the transfer to the
Optionee of such shares. Optionee acknowledges that if such disposition occurs, the Optionee generally will recognize ordinary income as of the date the Option was exercised in an amount equal to the lesser of (i) the Fair Market Value of
the Common Shares on the date of exercise minus the exercise price, or (ii) the amount realized on disposition of such shares minus the exercise price. If requested by the Company at the time of and in the case of any such disposition,
Optionee shall pay to the Company an amount sufficient to satisfy the Company’s federal, state and local withholding tax obligations with respect to such disposition. The provisions of this Section 12 shall apply, whether or not the
Optionee is in the employ of the Company at the time of the relevant disposition. For purposes of this Paragraph, the term “disposition” shall have the meaning assigned to such term by section 424(c) of the Code. 

13.       Securities Matters. (a) If, at any time, counsel to the Company shall determine that the
listing, registration or qualification of the Common Shares subject to the Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, or that the disclosure of non-public
information or the satisfaction of any other condition is necessary as a condition of, or in connection with, the issuance or purchase of Common Shares hereunder, such Option may not be exercised, in whole or in part, unless such listing,
registration, qualification, consent or approval, or satisfaction of such condition shall have been effected or obtained on conditions acceptable to the Board of Directors. The Company shall be under no obligation to apply for or to obtain such
listing, registration or qualification, or to satisfy such condition. The Committee shall inform the Optionee in writing of any decision to defer or prohibit the exercise of an Option. During the period that the effectiveness of the
exercise of an Option has been deferred or prohibited, the Optionee may, by written notice, withdraw the Optionee’s decision to exercise and obtain a refund of any amount paid with respect thereto. 

(b)       The Company may require: (i) the Optionee (or any other person exercising the Option in the
case of the Optionee’s death or Disability) as a condition of exercising the Option, to give written assurances, in substance and form satisfactory to the Company, to the effect that such person is acquiring the Common Shares subject to the
Option for his or her own account for investment and not with any present intention of selling or otherwise distributing the same, and to make such other representations or covenants; and (ii) that any certificates for Common Shares delivered
in connection with the exercise of the Option bear such legends, in each case as the Company deems necessary or appropriate, in order to comply with federal and applicable state 

  
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securities laws, to comply with covenants or representations made by the Company in connection with any public offering of its Common Shares or otherwise. The Optionee specifically
understands and agrees that the Common Shares, if and when issued upon exercise of the Option, may be “restricted securities,” as that term is defined in Rule 144 under the Securities Act of 1933 and, accordingly, the Optionee may be
required to hold the shares indefinitely unless they are registered under such Securities Act of 1933, as amended, or an exemption from such registration is available. 

(c)       The Optionee shall have no rights as a shareholder with respect to any Common Shares covered by
the Option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of a stock certificate to the Optionee for such Common Shares. No adjustment shall be made
for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 

14.       Governing Law. This Option Agreement shall be governed by the applicable Code provisions
to the maximum extent possible. Otherwise, the laws of the State of Delaware (without reference to the principles of conflict of laws) shall govern the operation of, and the rights of the Optionee under, the Plan and Options granted thereunder.

 [SIGNATURE PAGE FOLLOWS] 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 IN WITNESS
WHEREOF, the parties hereto have duly executed this Incentive Stock Option Agreement as of the      day of             ,
20    . 
  

			
	CONKWEST, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	 	 	 
	Optionee

  
 2533 South Coast Highway
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 CONKWEST, INC. 2014 EQUITY INCENTIVE
PLAN 
 Notice of Exercise of Incentive Stock Option 

I hereby exercise the incentive stock option granted to me pursuant to the Incentive Stock Option Agreement dated as
of             , 20    , by Conkwest, Inc. (the “Company”), with respect to the following number of shares of the Company’s common
stock (“Shares”), par value $0.0001 per Share, covered by said option: 
  

			
	     Number of Shares to be purchased:
		 ________

		
	     Purchase price per Share:
		 $_______

		
	     Total purchase price:
		 $_______

  

					
	 ___
		 A.    
		 Enclosed is cash or my certified check, bank draft, or postal or express money order in the amount of $________ in full/partial [circle one] payment for such
Shares;

	
	and/or
			
	 ___
		 B.
		 Enclosed is/are _______ Share(s) with a total fair market value of $_______ on the date hereof in full/partial [circle one] payment for such
Shares;

	
	and/or
			
	 ___
		 C.
		 I have provided notice to __________ [insert name of broker] , a broker, who will render full/partial [circle one] payment for such
Shares. [Optionee should attach to the notice of exercise provided to such broker a copy of this Notice of Exercise and irrevocable instructions to pay to the Company the full/partial (as elected above) exercise price.]

	
	and/or
			
	 ___
		 D.
		 I elect to satisfy the payment for Shares purchased hereunder by having the Company withhold newly acquired Shares pursuant to the exercise of the
Option. I understand that this will result in a “disqualifying disposition,” as described in Section 11 of my Incentive Stock Option Agreement.

 Please have the certificate or certificates representing the purchased Shares registered in
the following name or names   *  
:                                       
                    ;   and sent to
                                         
    . 
  

			
	DATED:
                                         
        , 20    		  

			Optionee’s Signature

 Certificates may be registered in the name of the Optionee alone or in the joint names (with
right of survivorship) of the Optionee and his or her spouse. 

  
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 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 CONKWEST, INC. 2014 EQUITY INCENTIVE
PLAN 
 NONQUALIFIED STOCK OPTION AGREEMENT 

This NONQUALIFIED STOCK OPTION AGREEMENT (the “Option Agreement”), dated as of the [__] day of [__] 20[_] and
effective as of [__], 20[_] (the “Grant Date”), is between Conkwest, Inc., a Delaware corporation (the “Company”), and [      ] (the “Optionee”), a director, officer or employee of,
or consultant or advisor to, the Company or a Subsidiary of the Company (a “Related Corporation”), pursuant to Conkwest, Inc. 2014 Equity Incentive Plan (the “Plan”). 

WHEREAS, the Company desires to give the Optionee the opportunity to purchase shares of common stock of the Company,
par value $0.0001 (“Common Shares”) in accordance with the provisions of the Plan, a copy of which is attached hereto; 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable
consideration, the parties hereto, intending to be legally bound hereby, agree as follows: 

1.         Grant of Option. The Company hereby grants to the Optionee the right and option
(the “Option”) to purchase all or any part of an aggregate of [        ] (        ) Common Shares. The Option is in all respects limited and
conditioned as hereinafter provided, and is subject in all respects to the terms and conditions of the Plan now in effect and as it may be amended from time to time (but only to the extent that such amendments apply to outstanding
options). Such terms and conditions are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms of this Option Agreement. The Option granted hereunder is intended to be a
nonqualified stock option (“NQSO”) and not an incentive stock option (“ISO”) as such term is defined in section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 

2.         Exercise Price. The exercise price of the Common Shares covered by this
Option shall be $[__] per share. It is the determination of the committee administering the Plan (the “Committee”) that on the Grant Date the exercise price was not less than the greater of (i) 100% of the “Fair Market
Value” (as defined in the Plan) of a Common Share, or (ii) the par value of a Common Share. 

3.         Term. Unless earlier terminated pursuant to any provision of the Plan or
of this Option Agreement, this Option shall expire on             , 20[__] (the “Expiration Date”), which date is not more than 10 years from the Grant Date. This
Option shall not be exercisable on or after the Expiration Date. 
 4.         Exercise of
Option. The Option shall vest in [__] equal installments on [__] anniversary of the date hereof, provided that Optionee remains continuously engaged as a director, officer or employee of, or consultant or advisor to, the Company or a
Related Corporation from the date hereof through the applicable vesting date. 

  
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 The Committee may accelerate any
vesting date of the Option, in its discretion, if it deems such acceleration to be desirable. Once the Option becomes exercisable, it will remain exercisable until it is exercised or until it terminates. 

5.         Method of Exercising Option.   Subject to the terms and
conditions of this Option Agreement and the Plan, the Option may be exercised by written notice to the Company at its principal office. The form of such notice is attached hereto and shall state the election to exercise the Option and the
number of whole shares with respect to which it is being exercised; shall be signed by the person or persons so exercising the Option; and shall be accompanied by payment of the full exercise price of such shares. Only full shares will be issued.

 The exercise price shall be paid to the Company: 

(a)         in cash, or by certified check, bank draft, or postal or express money order; 

(b)         through the delivery of Common Shares previously acquired by the Optionee; 

(c)         by delivering a properly executed notice of exercise of the Option to the Company and
a broker, with irrevocable instructions to the broker promptly to deliver to the Company the amount necessary to pay the exercise price of the Option; 

(d)         in Common Shares newly acquired by the Optionee upon exercise of the Option; or 

(e)         in any combination of (a), (b), (c) or (d) above. 

In the event the exercise price is paid, in whole or in part, with Common Shares, the portion of the exercise price so paid shall be equal to
the Fair Market Value of the Common Shares surrendered on the date of exercise. 
 Upon receipt of notice of exercise and payment, the
Company shall deliver a certificate or certificates representing the Common Shares with respect to which the Option is so exercised. The Optionee shall obtain the rights of a shareholder upon receipt of a certificate(s) representing such Common
Shares. 
 Such certificate(s) shall be registered in the name of the person so exercising the Option (or, if the Option is exercised by the
Optionee and if the Optionee so requests in the notice exercising the Option, shall be registered in the name of the Optionee and the Optionee’s spouse, jointly, with right of survivorship), and shall be delivered as provided above to, or upon
the written order of, the person exercising the Option. In the event the Option is exercised by any person after the death or disability (as determined in accordance with Section 22(e)(3) of the Code) of the Optionee, the notice shall be
accompanied by appropriate proof of the right of such person to exercise the Option. All Common Shares that are purchased upon exercise of the Option as provided herein shall be fully paid and non-assessable. 

Upon exercise of the Option, Optionee shall be responsible for all employment and income taxes then or thereafter due (whether Federal, State
or local), and if the Optionee does not remit to the Company sufficient cash (or, with the consent of the Administrator, Common Shares) to satisfy all 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 
applicable withholding requirements, the Company shall be entitled to satisfy any withholding requirements for any such tax by disposing of Common Shares at exercise, withholding cash from
Optionee’s salary or other compensation or such other means as the Committee considers appropriate to the fullest extent permitted by applicable law. Nothing in the preceding sentence shall impair or limit the Company’s rights with
respect to satisfying withholding obligations under Section 8.5 of the Plan. 

6.         Non-Transferability of Option. This Option is not assignable or
transferable, in whole or in part, by the Optionee other than by will or by the laws of descent and distribution. During the lifetime of the Optionee, the Option shall be exercisable only by the Optionee or, in the event of his or her
disability, by his or her guardian or legal representative. 
 7.         Change in
Control. (a) For purposes of this Option Agreement, unless otherwise defined in an agreement between the Company and the Optionee, a Change in Control shall be deemed to have occurred if: 

(i)       a tender offer (or series of related offers) shall be made and consummated for the ownership of 50% or
more of the outstanding voting securities of the Company, unless as a result of such tender offer more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the
Company (as of the time immediately prior to the commencement of such offer), any employee benefit plan of the Company or its subsidiaries, and their affiliates; 

(ii)       the Company shall be merged or consolidated with another corporation, unless as a result of such
merger or consolidation more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the stockholders of the Company (as of the time immediately prior to such transaction), any
employee benefit plan of the Company or its subsidiaries, and their affiliates; 
 (iii)       the Company
shall sell substantially all of its assets to another corporation that is not wholly owned by the Company, unless as a result of such sale more than 50% of such assets shall be owned in the aggregate by the stockholders of the Company (as of the
time immediately prior to such transaction), any employee benefit plan of the Company or its subsidiaries and their affiliates; or 

(iv)       a Person (as defined in the Plan) shall acquire 50% or more of the outstanding voting securities of
the Company (whether directly, indirectly, beneficially or of record), unless as a result of such acquisition more than 50% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by the
stockholders of the Company (as of the time immediately prior to the first acquisition of such securities by such Person), any employee benefit plan of the Company or its subsidiaries, and their affiliates. 

(b)       [If, at any time, the Company shall effect a Change in Control transaction, then, on the date of the
occurrence of such Change in Control transaction, the Option shall immediately vest]. 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 (c) Notwithstanding the foregoing, if
Change in Control is defined in an agreement between the Company and the Optionee, then, with respect to such Optionee and the Option, Change in Control shall have the meaning ascribed to it in such agreement. 

8.         Termination of Employment.   If the Optionee’s employment
with or service to the Company and all Related Corporations is terminated by the Optionee for any reason other than death, Disability, Normal or Early Retirement or Good Reason (as such terms are defined below), the Option shall thereupon terminate,
except that the portion of any Option that was exercisable on the date of such termination of employment or service may be exercised for the lesser of three (3) months after the date of termination or the balance of such Option’s term,
whichever period is shorter. The transfer of an Optionee from the employ of or service to the Company to the employ of or service to a Related Corporation, or vice versa, or from one Related Corporation to another, shall not be deemed to constitute
a termination of employment or service for purposes of the Option Agreement. 
 (a) In the event that the Optionee’s employment or
service with the Company and all Related Corporations is terminated by the Company or any Related Corporations for “Cause”, any unexercised portion of any Option shall immediately terminate in its entirety. For purposes hereof, unless
otherwise defined in an employment agreement between the Company and the Optionee, “Cause” shall be defined in accordance with the Plan and shall exist upon a good-faith determination by the Board of Directors; provided, however, that it
is specifically understood that “Cause” shall not include any act of commission or omission in the good-faith exercise of the Optionee’s business judgment as a director, officer or employee of the Company, as the case may be, or upon
the advice of counsel to the Company. Notwithstanding the foregoing, if Cause is defined in an employment agreement between the Company and the Optionee, then, with respect to such Optionee, Cause shall have the meaning ascribed to it in such
employment agreement. 
 (b) In the event that an Optionee is removed as a director, officer or employee by the Company at any time other
than for “Cause” or resigns as a director, officer or employee for “Good Reason” the Option granted to such Optionee may be exercised by the Optionee, to the extent the Option was exercisable on the date such Optionee ceases to
be a director, officer or employee. Such Option may be exercised at any time within one (1) year after the date the Optionee ceases to be a director, officer or employee, or the date on which the Option otherwise expires by its terms; whichever
period is shorter, at which time the Option shall terminate; provided, however, if the Optionee dies before the Options terminate and are no longer exercisable, the terms and provisions of Section 10 shall control. For purposes of this
Section 8(b), and unless otherwise defined in an employment agreement between the Company and the relevant Optionee, Good Reason shall exist upon the occurrence of the following: 

(A) the assignment to Optionee of any duties materially inconsistent with the position in the Company that Optionee held immediately prior to
the assignment; 
 (B) a Change in Control resulting in a significant adverse alteration in the status or conditions of Optionee’s
participation with the Company or other nature of Optionee’s responsibilities from those in effect prior to such Change in Control, including any significant alteration in Optionee’s responsibilities immediately prior to such Change in
Control; and 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 (C) the failure by the Company to
continue to provide Optionee with benefits substantially similar to those enjoyed by Optionee prior to such failure. 
 Notwithstanding the
foregoing, if Good Reason is defined in an employment agreement between the Company and the relevant Optionee, then, with respect to such Optionee, Good Reason shall have the meaning ascribed to it in such employment agreement. 

9.         Disability. If the Optionee’s employment with or service to the
Company and all Related Corporations terminates by reason of Disability (as defined below), then any Option held by the Optionee may thereafter be exercised, to the extent it was exercisable at the time of termination due to Disability (or on such
accelerated basis as the Committee shall determine at or after grant), but may not be exercised after twelve (12) months after the date of such termination of employment or service or the expiration of the stated term of such Option, whichever
period is shorter; provided, however, that, if the Optionee dies within such twelve (12) month period, any unexercised Option held by the Optionee shall thereafter be exercisable to the extent to which it was exercisable at the time of death
for a period of one (1) year after the date of such death or for the stated term of such Option, whichever period is shorter. “Disability” shall mean an Optionee’s total and permanent disability; provided, that if Disability is
defined in an employment agreement between the Company and the Optionee, Disability shall have the meaning ascribed to it in such employment agreement. 

10.         Retirement. If the Optionee’s employment with or service to the Company and
all Related Corporations terminates by reason of Normal or Early Retirement (as such terms are defined below), the Option held by the Optionee may thereafter be exercised to the extent it was exercisable at the time of such Retirement, but may not
be exercised after ninety (90) days after the date of such termination of employment or service or the expiration of the stated term of such Option, whichever date is earlier; provided, however, that, if the Optionee dies within such ninety
(90) day period, any unexercised Option held by such Optionee shall thereafter be exercisable, to the extent to which it was exercisable at the time of death, for a period of one (1) year after the date of such death or for the stated term
of such Option, whichever period is shorter. 
 For purposes of this Section 10, “Normal Retirement” shall mean retirement
from active employment with the Company or any Subsidiary on or after the normal retirement date specified in the applicable Company or Subsidiary pension plan or if no such pension plan, age 65, and “Early Retirement” shall mean
retirement from active employment with the Company or and Related Corporations pursuant to the early retirement provisions of the applicable Company or and all Related Corporations pension plan or if no such pension plan, age 55. 

11.         Death. If the Optionee’s employment with or service to the Company
and all Related Corporations terminates by reason of death, the Option may thereafter be exercised, to the extent then exercisable (or on such accelerated basis as the Committee shall determine at or after grant), by the legal representative of the
estate or by the legatee of the Optionee under the will of the Optionee, for a period of one (1) year after the date of such death or until the expiration of the stated term of such Option as provided under the Plan, whichever period is
shorter. 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  

12.       Securities Matters. (a) If, at any time, counsel to the Company shall determine
that the listing, registration or qualification of the Common Shares subject to the Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, or that the disclosure of
non-public information or the satisfaction of any other condition is necessary as a condition of, or in connection with, the issuance or purchase of Common Shares hereunder, such Option may not be exercised, in whole or in part, unless such listing,
registration, qualification, consent or approval, or satisfaction of such condition shall have been effected or obtained on conditions acceptable to the Board of Directors. The Company shall be under no obligation to apply for or to obtain such
listing, registration or qualification, or to satisfy such condition. The Committee shall inform the Optionee in writing of any decision to defer or prohibit the exercise of an Option. During the period that the effectiveness of the
exercise of an Option has been deferred or prohibited, the Optionee may, by written notice, withdraw the Optionee’s decision to exercise and obtain a refund of any amount paid with respect thereto. 

(b)         The Company may require: (i) the Optionee (or any other person exercising the
Option in the case of the Optionee’s death or Disability) as a condition of exercising the Option, to give written assurances, in substance and form satisfactory to the Company, to the effect that such person is acquiring the Common Shares
subject to the Option for his or her own account for investment and not with any present intention of selling or otherwise distributing the same, and to make such other representations or covenants; and (ii) that any certificates for Common
Shares delivered in connection with the exercise of the Option bear such legends, in each case as the Company deems necessary or appropriate, in order to comply with federal and applicable state securities laws, to comply with covenants or
representations made by the Company in connection with any public offering of its Common Shares or otherwise. The Optionee specifically understands and agrees that the Common Shares, if and when issued upon exercise of the Option, may be
“restricted securities,” as that term is defined in Rule 144 under the Securities Act of 1933 and, accordingly, the Optionee may be required to hold the shares indefinitely unless they are registered under such Securities Act of 1933, as
amended, or an exemption from such registration is available. 
 (c)         The Optionee shall
have no rights as a shareholder with respect to any Common Shares covered by the Option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares) until the date of issue of a stock
certificate to the Optionee for such Common Shares. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 

13.       Governing Law. This Option Agreement shall be governed by the applicable Code
provisions to the maximum extent possible. Otherwise, the laws of the State of Delaware (without reference to the principles of conflict of laws) shall govern the operation of, and the rights of the Optionee under, the Plan and Options granted
thereunder. 
 [SIGNATURE PAGE FOLLOWS] 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 IN WITNESS WHEREOF, the
parties hereto have duly executed this Nonqualified Stock Option Agreement as of the      day of             , 20[   ]. 

 

			
	CONKWEST, INC.
		
	 By:
		 
		
	 Name:
		
		
	 Title:
		
		
	 		 
		
	 Optionee
		

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.com 

 

 
  
 CONKWEST, INC. 2014 EQUITY INCENTIVE
PLAN 
 Notice of Exercise of Nonqualified Stock Option 

I hereby exercise the nonqualified stock option granted to me pursuant to the Nonqualified Stock Option
Agreement dated as of [      ], 2014, by Conkwest, Inc. (the “Company”), with respect to the following number of shares of the Company’s common stock (“Shares”), par value $0.0001 per
Share, covered by said option: 
  

			
	 Number of Shares to be purchased:
		   _______

		
	 Purchase price per Share:
		 $_______

		
	 Total purchase price:
		 $_______

  

					
	 ___
		 A.
		 Enclosed is cash or my certified check, bank draft, or postal or express money order in the amount of $__________ in full/partial [circle one] payment for such
Shares;

	
	and/or
			
	 ___
		 B.
		 Enclosed is/are _______ Share(s) with a total fair market value of $_______ on the date hereof in full/partial [circle one] payment for such
Shares;

	
	and/or
			
	 ___
		 C.
		 I have provided notice to _________ [insert name of broker], a broker, who will render full/partial [circle one] payment for such Shares.
[Optionee should attach to the notice of exercise provided to such broker a copy of this Notice of Exercise and irrevocable instructions to pay to the Company the full exercise price.]

	
	and/or
			
	 ___
		 D.
		 I elect to satisfy the payment for Shares purchased hereunder by having the Company withhold newly acquired Shares pursuant to the exercise of the
Option.

 Please have the certificate or certificates representing the purchased Shares registered in the following name
or names *
:                                       
                 ; and sent to
                                         
        
  

			
	 DATED:
                                        
         , 20    
		  

			 Optionee’s Signature

 Certificates may be registered in the name of the Optionee alone or in the joint names (with
right of survivorship) of the Optionee and his or her spouse. 

  
 2533 South Coast Highway
101, Suite 210, Cardiff-by-the-Sea, CA 92007-2133 
 Main: (858) 633-0300 Fax: (858) 380-1999 www.conkwest.comEX-10.5

 Exhibit 10.5 

EXECUTIVE EMPLOYMENT AGREEMENT 

This EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”), made as of this 22nd day of May 2015, is entered into by Conkwest, Inc., Delaware corporation (the “Company”), and Patrick Soon-Shiong, M.D., an individual resident of California
(“Executive”). 
 WHEREAS, the Company desires to employ Executive, and Executive hereby agrees to be so
employed by the Company, subject to the terms and conditions of this Agreement; and 
 In consideration of the mutual
covenants and promises contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties to this Agreement, the parties agree as follows: 

1. Employment/Duties. During the Employment Period (as defined below), Executive shall serve as Chief Executive Officer
of the Company and shall have all the duties, responsibilities and authority commensurate with such position and such additional duties as may be determined by the Company’s Board of Directors (the “Board of Directors”).
Executive shall report to, and be subject to the general supervision of, the Board of Directors, consistent with the terms of this Agreement. 

During the Employment Period, Executive shall be permitted to engage in other activities, including (A) serving on the
boards of directors of non-profit organizations and other for-profit companies, (B) participating in charitable, civic, educational, professional, community or industry affairs, (C) participating, directly or indirectly, either alone or
through Affiliates (as defined below) in other for-profit enterprises involved in the same or related industry as the Company and (D) managing Executive’s passive personal investments (collectively, the “Outside
Activities”) so long as the Outside Activities are disclosed to the Compensation Committee of the Board of Directors (the “Compensation Committee”) and do not, in the aggregate materially interfere or conflict with
Executive’s duties hereunder or create a business or fiduciary conflict, as reasonably determined in good faith by the Compensation Committee. For the avoidance of doubt, the Outside Activities relating to for-profit enterprises involved in the
same or related industry as the Company currently include those activities set forth on Schedule A (as amended from time to time by the parties) attached hereto (and all of such Outside Activities are hereby approved by the Compensation
Committee and the Company). If the Compensation Committee determines that Executive’s activities materially interfere or conflict as provided above, the Compensation Committee shall notify Executive in writing of such determination and the
basis thereof (and the Compensation Committee and Executive shall meet to discuss in good faith the resolution thereof), and Executive, subject to fiduciary obligations, shall promptly take steps to address the Compensation Committee’s concern
as mutually agreed in good faith between Executive and the Compensation Committee. In furtherance of the foregoing, Executive agrees to meet with the Compensation Committee at the Compensation Committee’s request to discuss Executive’s
Outside Activities and any additional activities that Executive (or his Affiliates) have undertaken since the last meeting between Executive and the Compensation Committee or that Executive (or his Affiliates) contemplate undertaking or have taken
active steps to begin undertaking. Executive agrees to abide by the rules, regulations, personnel practices and policies of the Company, as adopted and amended from time to time by the Company, provided, that such rules, regulations,
practices and policies are not inconsistent with the terms and conditions of this Agreement and have been disclosed in advance to Executive. 

  

 Further, during the Employment Period, so long as the Company’s common stock
is not publicly traded, and so long as Executive remains a significant shareholder of the Company he shall be elected to the Board of Directors, and Executive shall serve as Chairman of the Board of Directors (and, if he so elects, shall be a member
of all other boards of directors of subsidiaries of the Company) and, if the common stock of the Company becomes publicly traded, subject to the requirements of applicable law (including, without limitation, any rules or regulations of any exchange
on which the common stock of the Company is listed, if applicable), the Company shall cause the nominating and corporate governance committee of the Board of Directors to propose to the shareholders of the Company at each annual meeting occurring
during the Employment Period at which Executive is subject to election or re-election, as applicable, the election or re-election, as applicable, of Executive as a member of the Board of Directors and Executive shall so serve if elected or
re-elected; provided, however, that if the Company terminates Executive’s employment with the Company for Cause, Executive’s membership on the Board of Directors shall also terminate, unless otherwise agreed in writing by the
Company and Executive. 
 2. Effective Date; Period of Employment. Executive’s employment with the Company
commenced effective March 24, 2015 (the “Effective Date”), and Executive’s employment under this Agreement shall be effective as of the Effective Date, subject to execution of this Agreement. Executive’s employment
shall continue until terminated in accordance with the provisions of Section 4 (such period of employment, the “Employment Period”), subject to Section 9.13. 

3. Compensation. 

3.1. Base Compensation. During the Employment Period, and in light of Executive’s significant shareholding in the
Company, Executive shall be paid a base salary of One Dollar ($1) per year in connection with his services to the Company. 

3.2. Equity Compensation. 

(a) On March 24, 2015 (the “Grant Date”), in consideration of Executive’s appointment as Chief
Executive Officer, the Board of Directors granted Executive a non-qualified stock option (the “Option”) to purchase 1,000,000 shares of the Company’s common stock with an exercise price equal to 110% of the fair market value of
such shares as of the Grant Date (the “Option Award”). The Option Award vests in equal monthly installments over a period of four (4) years from the Grant Date. The terms and conditions of the Option Award are as set forth in
an award agreement delivered to Executive, which award agreement provides that (x) upon any termination of Executive’s employment by the Company (other than a termination by the Company without Cause or by Executive for Good Reason), all
unvested Options pursuant to the Option Award Shall be forfeited and (y) upon the consummation of a Change in Control (as defined below), all unvested Options subject to the Option Award will become immediately vested. 

  
 -2- 

 (b) On the Grant Date, in consideration of Executive’s appointment as Chief
Executive Officer, the Board of Directors awarded Executive a warrant (the “Warrant”) to purchase up to 9,500,000 shares of the Company’s common stock (the “Warrant Shares”). The Warrant has a term of four
(4) years and is exercisable for up to all of the Warrant Shares upon the Company’s achievement of certain milestones, as set forth in the Warrant Agreement entered into by the Company and Executive effective March 24, 2015. 

3.3. Benefits and Perquisites. During the Employment Period, Executive shall be entitled to elect to participate in
all benefit programs that the Company makes available to its senior executives (to the extent consistent with their respective terms and conditions), and for so long as he remains employed, Executive shall remain eligible, consistent with past
practices and any applicable eligibility conditions, for all perquisites and other benefits the Company provides to its senior executives from time to time. 

3.4. Reimbursement of Expenses. The Company shall reimburse Executive for all reasonable travel, entertainment and
other expenses incurred or paid by Executive in connection with, or related to, the performance of Executive’s duties, responsibilities or services on behalf of the Company under this Agreement, in accordance with policies and procedures, and
subject to reasonable limitations, adopted by the Company from time to time; provided that Executive shall be entitled to business class airfare on domestic flights exceeding three (3) hours and first class airfare on all foreign
flights. 
 3.5. Withholding. All amounts payable to Executive during the Employment Period shall be subject to
applicable required deductions for state and federal withholding tax, social security and all other employment taxes and payroll deductions. 

3.6. Indemnification and D&O Insurance. The Company shall indemnify and hold Executive harmless during his
employment or service as a member of the Board of Directors (or both) to the maximum extent and provided under and subject to the terms of the Company’s charter and by-laws (as in effect as of the Effective Date, subject to any improvements in
coverage) and applicable law. During the Employment Period, and for a term of six years thereafter, the Company shall purchase and maintain, at its own expense, directors and officers liability insurance providing coverage for Executive in the same
amount as for members of the Board of Directors in respect of acts and omissions of Executive in his capacity as such or as a director of the Company and occurring during Executive’s employment or service as a member of the Board of Directors
(or both). 
 4. Termination of Employment Period. The employment of Executive by the Company pursuant to this
Agreement shall terminate upon the occurrence of any of the following: 
 4.1. By the Company for Cause. At the
election of the Company, for Cause, provided that prior to a termination of Executive’s employment pursuant to subsection (iii), below, Executive shall have thirty (30) days to cure in all material respects such Cause event(s) following
Executive’s receipt of written notice by the Company, which notice shall specifically identify the Cause upon which the termination is based and after Executive has been given such notice. For the purposes of this Agreement,
“Cause” means (i) Executive’s conviction of, or plea 

  
 -3- 

 
of guilty or nolo contendere to, a felony or a crime involving moral turpitude, (ii) Executive’s commission of any crime involving fraud or material dishonesty in connection with
Executive’s employment by the Company, (iii) Executive’s willful and repeated failure to substantially perform his duties to the Company or material breach of this Agreement, including Executive’s continued participation in any
Outside Activities after the Compensation Committee has notified Executive that such Outside Activities materially interfere or conflict with Executive’s duties hereunder. No act or failure to act shall be deemed “willful” for the
purposes of this Agreement unless done, or failed to be done, by Executive intentionally and in bad faith. Any termination for Cause shall be effected by a resolution of the majority of the disinterested members of the Board of Directors other than
Executive (or members of the Board of Directors appointed by Executive or an Affiliate (as defined below) of Executive) (the “Disinterested Board”). Prior to terminating Executive’s employment for Cause, the Disinterested Board
shall deliver to Executive, within ten (10) days after the occurrence of the act(s), omission(s), event(s) and/or circumstance(s) purportedly constituting Cause hereunder, a written notice setting forth in sufficient detail the act(s),
omission(s), event(s) and/or circumstance(s) the Disinterested Board believes in good faith constitute Cause to terminate Executive’s employment. In the event the Disinterested Board delivers to Executive the notice described in the preceding
sentence, Executive shall be afforded an opportunity to meet with the Disinterested Board with counsel of Executive’s choosing, upon reasonable notice under the circumstances, and explain and defend any act(s), omission(s), event(s) and/or
circumstances alleged by the Disinterested Board in the written notice delivered to Executive to constitute grounds for a termination for Cause. If Executive has, and utilizes, such opportunity to be heard, the Disinterested Board shall promptly
reaffirm that grounds for a termination for Cause exist or reinstate Executive to his position hereunder. 
 4.2. Death
or Disability. Upon the death of Executive or written notice by the Company to Executive of termination of Executive for Disability (as defined below) given while Executive remains Disabled. For purposes of this Section 4.2,
“Disability” means (i) Executive has been incapacitated by mental or physical injury or illness so as to be prevented thereby from engaging in the performance of Executive’s duties to the Company and (ii) such
incapacity has continued for a period of one hundred twenty (120) consecutive days. 
 4.3. By the Company Not For
Cause. At the election of the Company for reasons other than Cause, upon not less than sixty (60) days’ prior written notice of termination. 

4.4. By Executive. At the election of Executive with or without Good Reason. In the event of a termination without
Good Reason, Executive shall provide not less than sixty (60) days’ prior written notice of resignation. Executive’s voluntary termination shall be deemed for purposes hereof to have occurred for Good Reason only if (i) Executive
provides written notice to the Company prior to resignation and within thirty (30) days following the first occurrence of circumstances giving rise to Good Reason, (ii) the Company fails to correct the circumstances giving rise to Good
Reason prior to resignation and within thirty (30) days following receipt of such notice and (iii) Executive resigns within thirty (30) following such thirty (30) day period described in (ii). For purposes of this Agreement,
“Good Reason” means, without Executive’s express written consent, the occurrence of any of the following circumstances: (i) there is a material diminution in Executive’s authority, duties or responsibilities;
(ii) any adverse change in Executive’s direct reporting relationship to the Board of Directors; or (iii) any material breach by the Company of this Agreement. 

  
 -4- 

 5. Effect of Termination; Certain Defined Terms. 

5.1. Payments and Benefits upon Termination. 

(a) In the event Executive’s employment is terminated for any reason, the Company shall pay to Executive (or his
designated representative or estate) the “Accrued Benefits,” which shall mean: (i) any unreimbursed expenses incurred through the last day of Executive’s actual employment by the Company and reimbursable under
Section 3.4; and (ii) all other payments, benefits or fringe benefits to which Executive is entitled under the terms of any applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this
Agreement. 
 (b) In the event Executive’s employment is terminated by the Company without Cause or by Executive for
Good Reason, then, in addition to payment of the Accrued Benefits above, (i) the vesting of all stock options and other equity awards granted to Executive, including the Option Award, shall fully accelerate so that all unvested stock options
and equity awards shall be fully vested on the termination date and (ii) all Warrants Shares shall be fully exercisable, notwithstanding any time-based or milestone-based conditions or restrictions. 

5.2. Certain Defined Terms. 

(a) For purposes of this Agreement, “Change of Control” shall mean (A) any acquisition of the Company
by a Person (as defined below) not an Affiliate (as defined below) of the Company or of Executive, by means of merger or other form of corporate reorganization in which the outstanding ownership interests of the Company are exchanged for securities
or other consideration issued, or caused to be issued, by the acquiring Person and in which the holders of the Company’s ownership interests hold less than fifty percent (50%) of the acquiring or surviving Person (other than a mere
reincorporation transaction), (B) the closing of the transfer from existing Company stockholders, in one transaction or a series of related transactions, to a Person or group of affiliated Persons not an Affiliate of the Company or of Executive
or his Affiliates, of the Company’s securities if, after such closing, such Person or group of affiliated Persons would hold more than fifty percent (50%) of the outstanding voting securities of the Company, (C) a sale of all or
substantially all of the assets of the Company to a Person not an Affiliate of the Company or of Executive or his Affiliates or (D) individuals who, as of the Effective Date, constitute the Board of Directors (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by
the Company’s shareholders, was approved by a vote of at least of majority of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose,
any such individual whose initial assumption of the office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors of other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board of Directors; provided, however, that a “Change of Control” shall not include an initial public offering of the Company’s stock or a mere recapitalization transaction. 

  
 -5- 

 (b) For purposes of this Agreement, an “Affiliate” means with
respect to a specified Person, any Person that directly or indirectly controls, is controlled by, or is under common control with, the specified Person (as used in this definition, the term “control” means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of a person or entity, whether through ownership of voting securities, by contract or otherwise). 

(c) For purposes of this Agreement, a “Person” shall mean any individual, company, corporation, association,
partnership (general or limited), joint venture, trust, estate, limited liability company or other legal entity or organization. 

(d) For purposes of this Agreement, “Code” means the Internal Revenue Code of 1986, as amended. 

(e) For purposes of this Agreement, “Section 409A” means Section 409A of the Code, together with
the related final regulations thereunder and other guidance relating thereto. 
 5.2 Section 409A. 

(a) Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided to
Executive, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Code Section 409A, and the final regulations and any guidance
promulgated thereunder (collectively, the “Deferred Payments”) will be paid or otherwise provided until Executive has a “separation from service” within the meaning of Code Section 409A. 

(b) Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee” within the
meaning of Code Section 409A at the time of Executive’s termination (other than due to death), then the Deferred Payments that are payable within the first six months following Executive’s separation from service, will become payable
on the first payroll date that occurs on or after the date six months and one day following the date of Executive’s separation from service. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s
separation from service, but prior to the six-month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum (with interest as provided for below) as soon as
administratively practicable after the date of Executive’s death. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. Any
delayed payments shall be credited with interest at a rate equal to the short term applicable federal rate then in effect until paid. 

(c) Any amount paid under this Agreement that satisfies the requirements of the “short-term deferral” rule set
forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments. If under this Agreement, an amount is to be paid in two or more installments, for purposes of Code Section 409A, each installment shall be
treated as a separate payment. 

  
 -6- 

 (d) This Agreement is intended to be exempt from the requirements of Code
Section 409A or compliant therewith so that none of the payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted accordingly. The
Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to Executive under Section 409A. 
 6. Other Agreements. Executive represents that
Executive’s performance of all the terms of this Agreement and the performance of Executive’s duties as an employee of the Company do not and will not breach any agreement with any prior employer or other party to which Executive is a
party (including without limitation any nondisclosure or non- competition agreement), or violate or contravene any judgment, administrative order or other legal prohibition specifically naming Executive. Executive agrees that if Executive, during
the Employment Period, becomes subject to any such agreement or prohibition, Executive shall immediately notify the Company. 

7. Confidential Information. Concurrently with the execution of this Agreement, Executive shall execute the
Company’s “Confidentiality, Non-Solicitation and Assignment of Company Inventions Agreement” in the form attached hereto as Exhibit A. 

8. Miscellaneous. 

8.1. Notices. Any notice or other communication required or permitted hereunder shall be in writing and shall be
delivered personally, sent by facsimile or electronic transmission or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given when so delivered personally or sent by facsimile or electronic transmission
or, if mailed, five (5) days after the date of deposit in the United States mail as follows: 
 If to
the Company, to: 
 Conkwest, Inc. 

2533 S. Coast Hwy 101, Suite 210 

Cardiff, Ca 92078 

Attention: Vice Chairman of the Board 

Facsimile: (858) 633-0300 

Email: 

If to Executive, to: 

The last address in the Company’s records 

  
 -7- 

 8.2. Pronouns. Whenever the context may require, any pronouns used in
this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa. 

8.3. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior
agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. 
 8.4.
Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and Executive. 

8.5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
California (without reference to the conflicts of laws provisions of the State of California). 
 8.6. Resolution of
Disputes. Any dispute, difference or controversy arising under this Agreement shall be settled by arbitration. Any arbitration pursuant to this Section shall be held before a single neutral arbitrator selected from the roles of the American
Arbitration Association pursuant to the Commercial Arbitration Rules. The arbitrator shall interpret and construe this Agreement in accordance with, and shall be bound by the laws of the State of California. Any arbitration shall take place in the
County of Los Angeles in the State of California or at such other location as the parties may agree upon, according to the American Arbitration Association’s Commercial Arbitration Rules in force as of the Effective Date and thereafter adopted.
The arbitrator shall make any award in accordance with and based upon all the provisions of this Agreement and judgment upon any award rendered by the arbitrator shall be entered in any court having jurisdiction thereof. The fees and disbursements
of such arbitrator shall be borne equally by the parties, with each party bearing its own expenses for counsel and other out-of-pocket costs. Notwithstanding the preceding sentence, if the arbitrator determines that Executive is the prevailing party
in the dispute, then the Company shall reimburse Executive for his reasonable legal or other fees and expenses incurred in such arbitration subject to and within ten (10) days after Executive’s request for reimbursement accompanied by
evidence that the fees and expenses were incurred. Any reimbursement hereunder shall be paid to Executive promptly and in no event later than the end of the year next following the date the expense was incurred. 

8.7. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their
respective successors and assigns, including any corporation with which, or into which, the Company may be merged or which may succeed to the Company’s assets or business, provided, however, that the obligations of Executive are
personal and shall not be assigned by Executive. The Company may only assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company, provided that the Company shall secure such
successor’s written agreement to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement,
“Company” shall mean the Company and any successor to its business and/or assets, which assumes and agrees to perform the duties and obligations of the Company under this Agreement by operation of law or otherwise. 

  
 -8- 

 8.8. Waivers. No delay or omission by the Company or Executive in
exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company or Executive on any one occasion shall be effective only in that instance and shall not be construed as a bar or
waiver of any right on any other occasion. 
 8.9. No Mitigation; No Offset. In no event shall Executive be
obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned
by Executive as a result of employment by a subsequent employer. 
 8.10. Captions. The captions of the sections of
this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 

8.11. Severability. In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the
validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 8.12.
Execution; Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. This Agreement may be executed and
delivered by facsimile, email/pdf format or other electronic means and each party may fully rely upon such execution and delivery. 

8.13. Survival. The provisions of Sections 3.4, 3.6 and 5 through 8 shall survive the termination of this Agreement.

 8.14. 280G. 

(a) In the event that any payments or benefits (within the meaning of Section 280G(b)(2) of the Code) to Executive or
for Executive’s benefit, paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise in connection with, or arising out of, Executive’s employment with the Company or a Change of Control (a
“Payment” or “Payments”) are deemed “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code, but determined without regard to Section 280G(b)(2)(A)(ii)) (the
“Parachute Payments”), would be subject to the excise tax imposed by Code Section 4999, or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest
and penalties, are hereinafter collectively referred to as the “Excise Tax”), then Executive will be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by Executive
of all taxes (including any interest or penalties (other than interest and penalties imposed by reason of Executive’s failure to file timely a tax return or pay taxes shown due on Executive’s return) imposed with respect to such taxes and
the Excise Tax), including any Excise Tax imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 

(b) Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would
require the payment by the Company of the Gross-Up 

  
 -9- 

 
Payment or any additional Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than 15 business days after Executive is informed of such claim. Executive shall
apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which Executive gives such notice to the
Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies Executive prior to the expiration of such period that the Company desires to contest such claim, Executive
shall: 
 (i) give the Company any information reasonably requested by the Company relating to such claim, 

(ii) take such action in connection with contesting such claim as the Company may reasonably request from time to time,
including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 

(iii) cooperate with the Company in good faith in order effectively to contest such claim, and 

(iv) permit the Company to participate in any proceedings relating to such claim; 

provided, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such
contest, and shall indemnify and hold Executive harmless, on an after-tax basis, for any Excise Tax, income tax, and all other applicable taxes (including interest and penalties) imposed as a result of such representation and payment of costs and
expenses. Without limitation on the foregoing provisions of this Section 8.14(b), the Company shall control all proceedings taken in connection with such contest, and, at its sole discretion, may pursue or forgo any and all administrative
appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole discretion, either direct Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible
manner, and Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, that, if the Company
directs Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to Executive, on an interest-free basis, and shall indemnify and hold Executive harmless, on an after-tax basis, from any Excise Tax or
income tax (including interest or penalties) imposed with respect to such advance or with respect to any imputed income in connection with such advance; and provided, further, that any extension of the statute of limitations relating to payment of
taxes for the taxable year of Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to
which the Gross-Up Payment would be payable hereunder, and Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

  
 -10- 

 (c) As a result of the uncertainty in the application of Sections 4999 and 280G
of the Code, it is possible that a Gross-Up Payment (or a portion thereof) will be paid which should not have been paid (an “Excess Payment”). 

(d) An Excess Payment shall be deemed to have occurred upon a Final Determination (as hereinafter defined) that the Excise
Tax shall not be imposed upon a Payment or Payments (or portion thereof) with respect to which Executive had previously received a Gross-Up Payment. A “Final Determination” shall be deemed to have occurred when Executive has
received from the applicable government taxing authority a refund of taxes or other reduction in Executive’s tax liability by reason of the Excise Payment and upon either (A) the date a determination is made by, or an agreement is entered
into with, the applicable governmental taxing authority which finally and conclusively binds Executive and such taxing authority, or in the event that a claim is brought before a court of competent jurisdiction, the date upon which a final
determination has been made by such court and either all appeals have been taken and finally resolved or the time for all appeals has expired or (B) the statute of limitations with respect to Executive’s applicable tax return has expired.
If an Excess Payment is determined to have been made, the amount of the Excess Payment shall be promptly repaid by Executive to the Company. 

(e) Notwithstanding anything contained in this Agreement to the contrary, in the event that an Excise Tax will be imposed on
any Payment or Payments, the Company shall pay to the applicable government taxing authorities, as Excise Tax withholding, the amount of the Excise Tax that the Company has actually withheld from the Payment or Payments. 

(f) Nothing in this Section 8.14 is intended to violate the Sarbanes-Oxley Act of 2002 and to the extent that any
advance or repayment obligation hereunder would do so, such obligation shall be modified so as to make the advance a nonrefundable payment to Executive and the repayment obligation null and void. 

(g) Any Gross-Up Payment payable hereunder shall be made to Executive no later than the end of the tax year following the tax
year in which Executive remits payment of the applicable Excise Taxes to the applicable government taxing authority. 

  
 -11- 

 IN WITNESS WHEREOF, the parties hereto have executed this Executive Employment
Agreement as of the day and year set forth above. 
  

	
	 CONKWEST, INC.

	
	 /s/ Barry J. Simon

	 By: Barry J. Simon, M.D.

	 Its: President & Chief Operating Officer

	
	 EXECUTIVE

	
	 /s/ Patrick Soon-Shiong

	 Name: Patrick Soon-Shiong, M.D.

 Exhibit A 

CONKWEST, INC. 

CONFIDENTIALITY, NON-SOLICITATION AND ASSIGNMENT OF COMPANY 

INVENTIONS AGREEMENT 

This Employee Confidentiality, Non-Solicitation and Assignment of Company Inventions Agreement (this “Agreement”) is
made and entered into as of May 22, 2015 (the “Effective Date”) by and between Patrick Soon-Shiong, an individual (“Employee”), and Conkwest, Inc., a Delaware corporation (the “Company”). 

RECITALS 

WHEREAS, as part of Employee’s employment with the Company (which includes any period of time that Employee is classified
as an employee or a consultant of the Company), Employee has been or will be exposed to or provided with trade secrets and/or proprietary and confidential information relating to the operation of the Company’s business and its clients or
customers; 
 WHEREAS, in connection with the execution of this Agreement, Employee has executed an Executive Employment
Agreement effective as of March 24, 2015 (the “Employment Agreement”). Capitalized terms used in this Agreement but not otherwise defined shall have the meanings given to them in the Employment Agreement; 

WHEREAS, Employee understands and acknowledges that the Company has developed and uses and will be developing and using
Confidential Information (as defined below) in connection with its business. This Confidential Information was developed and will be developed by the Company at great expense and constitutes, among other things, trade secrets of Company. To
safeguard this Confidential Information, the Company has instituted policies and procedures to protect such Confidential Information. Because Employee will come into contact with the Confidential Information over the course of his employment with
the Company, he shall be under a duty to protect such Confidential Information from unauthorized disclosure or use; 

WHEREAS, “Confidential Information” means any information, materials and data of the Company that have been created,
discovered, developed, enhanced or modified by the Company or that have otherwise become known or provided to the Company (including, without limitation, information created, discovered, developed, enhanced and/or modified by Employee as part of
Employee’s employment or arising directly out of Employee’s retention as an employee by the Company), and/or in which property rights have been assigned or otherwise conveyed to the Company, in each case which information has commercial
value in the business in which the Company is engaged and/or which gives the Company an opportunity to obtain an advantage over competitors who do not know or use it, including, information, materials and data related to: (i) current or
potential trade names, trademarks, service marks, graphics and logos; (ii) the identities of any customers, buyers, sellers, representatives, corporations, government representatives, organizations, individuals, groups of individuals or any
other business sources which the Company has identified, contacted and/or entered into contractual 

 
relationships with, in the course of its business, for the sale, supply or provision of products or services by the Company to any such entity (each, a “Customer” and collectively, the
“Customers”); (iii) the identities of any lenders, vendors, suppliers, sponsors, consultants, advisors, licensors, licensees, collaborators, strategic partners, joint venturers, joint development partners, corporations, government
representatives, organizations, individuals, groups of individuals or any other service providers or business partners which the Company has identified, contacted and/or entered into contractual relationships with, in the course of its business, for
the purchase or supply of goods or services from, or to enter into some other business relationship with, any such entity (each, a “Business Partner” and collectively, the “Business Partners”); (iv) information on each
Customer of the Company, including any and all contact information, telephone numbers, addresses, facsimile numbers, electronic mail addresses, credit histories, loss histories and/or records relating to such Customer; (v) information on each
Business Partner of the Company, including any and all contact information, telephone numbers, addresses, facsimile numbers, electronic mail addresses and similar information; (vi) the Company’s contractual and other business relationships
with current or prospective Customers and/or Business Partners; (vii) databases and/or lists containing information concerning a Customer or Customers; (viii) marketing sources and resources; (ix) strategies and distribution
techniques; (x) business plans, financial information, Customer and Business Partner data, or other subject matter pertaining to the business of the Company or any of its Customers or Business Partners; (xi) conceptualization, financing,
advertising and marketing of the services and business of the Company; and (xii) all other proprietary information or confidential information of the Company and/or information of the Company that otherwise qualifies for protection under any
law providing or creating intellectual property rights, including trade secrets. The term “trade secrets,” as used in this Agreement, will be given its broadest possible interpretation under the law of the State of California and will
include, anything tangible or intangible or electronically kept or stored, which constitutes, represents, evidences or records or any secret scientific, technical, merchandising, production or management information, or any design, process,
procedure, formula, invention, improvement or other confidential or proprietary information or documents. “Confidential Information” shall not include information that: (1) is or becomes part of the public domain through no fault of
Employee; (2) is lawfully received by Employee from a third party not under an obligation of confidentiality to the Company; (3) is or was independently developed by Employee without violation of any obligation under this Agreement or the
use of or reference to Confidential Information; or (4) is released from confidentiality obligations by the express prior written consent of the Company. 

WHEREAS, in connection with Employee’s employment with the Company, Employee may, either solely or in cooperation with
others, create Company Inventions (as defined below). All such Company Inventions shall be the sole and exclusive property of Company; and 

WHEREAS, “Company Inventions” means all Creative Works (as defined below) conceived, developed or made by Employee,
in whole or in part, either alone or with others, during the term of Employee’s employment with the Company that are a product, service or activity directly relating to the Company’s business, including but not limited to, the
Company’s proprietary natural killer cell line known as the NK-92 wild type cell line and modifications, derivatives or improvements thereof, aNK technology platform or aNK, haNK or taNK product candidates (but excluding any Creative Works
conceived, developed or made by Employee or any of his 

 
Affiliates, in whole or in part, either alone or with others, arising out of, related to or in connection with (i) Outside Activities that have been either listed on Schedule A to the
Employment Agreement (as amended from time to time) or disclosed and approved by the Compensation Committee, (ii) the existing agreement between NantCell, Inc. and Sorrento Therapeutics, Inc. (“Sorrento”), except to the extent such
Creative Works directly relates to the Company’s NK-92 cell line, aNK technology platform or any related product candidate licensed to Sorrento pursuant to the existing agreement between the Company and Sorrento (but excluding Outside
Activities as contemplated by the previous subclause (i)), and (iii) any future collaboration, partnership, licensing or other strategic agreement between the Company and NantCell, Inc. or its or Employee’s Affiliates or between the
Company and any other entity listed on Schedule A (as amended from time to time)). “Creative Works” means all original works of authorship, inventions (whether patentable or not), discoveries, inventions, designs, computer software (both
object code and source code form), algorithms, programming, scripts, applets and trade secrets, together with any and all tangible or intangible materials or information related to any of the foregoing, that are conceived, developed or made by
Employee, in whole or in part, either alone or with others. Creative Works that are not Company Inventions are referred to herein as “Employee Inventions.” 

AGREEMENT 

In consideration of the foregoing Recitals (which are incorporated herein by reference) and the promises and covenants set
forth below, the parties agree as follows: 
  

	 	1.	 Confidentiality. 

  

	 	a.	 Confidentiality Obligations. 

During and after Employee’s employment with the Company, Employee shall: 

i. Hold in trust, keep confidential, and not disclose, divulge, disseminate or otherwise communicate to any
third party, in any manner whatsoever, any Confidential Information, except to Employee’s agents and advisors with whom Employee enjoys an expectation of confidentiality, or other employees, consultants, brokers, agents, independent contractors
or other affiliates of the Company who are entitled to receive or possess such Confidential Information, as and when authorized by the Company; 

ii. Refrain from using any Confidential Information for Employee’s own use or for any purpose other than
in connection with the performance of Employee’s duties as an employee of the Company; 
 iii. Refrain
in all instances from knowingly attempting to realize unauthorized economic or commercial benefits from all or any portion of the Confidential Information or to attempt to utilize all or any portion of the Confidential Information to circumvent,
frustrate or hinder any business plan or opportunity of the Company; 

 iv. Not cause the transmission, removal, or transport by any
means, including electronic means, of Confidential Information outside of the Company, except as otherwise permitted by the Company; 

v. Take all reasonable actions to assure proper precautions have been taken to prevent unauthorized access to,
or disclosure, loss or destruction of, the Confidential Information; and 
 vi. Notify the Company in
writing of any actual or potential misuse or misappropriation of any Confidential Information of which Employee becomes aware. 
  

	 	b.	 Property of Company. 

Employee acknowledges and agrees that all Confidential Information is and shall remain the sole and exclusive property of the
Company, and the Company is the sole owner of all rights in connection therewith. 
  

	 	c.	 Return of Confidential Information. 

Upon (i) any termination of Employee’s employment with the Company, or (ii) at any time upon the
Company’s request, Employee shall promptly destroy or deliver and return to the Company all Confidential Information in Employee’s possession or control, including, any and all software, data, memoranda, notes, electronic mail, records,
and other documents, electronic or otherwise, including all copies thereof, as well as any other property of the Company that was furnished by the Company to Employee or developed or produced by Employee directly in connection with Employee’s
employment with the Company; provided, however, that Employee’s legal counsel shall be entitled to retain one (1) copy of the Confidential Information for the sole purpose of determining the parties’ obligations hereunder. 

 

	 	d.	 Exceptions. 

Notwithstanding anything in this Agreement to the contrary, Employee shall not be liable for disclosure of any Confidential
Information if such Confidential Information is: (i) disclosed with the prior written consent of the Company; (ii) disclosed to a third party by the Company without restrictions similar to those contained in this Agreement; or
(iii) subject to Section 5 below, is disclosed pursuant to the requirement of a court, administrative agency or other governmental body, or is disclosed pursuant to any applicable law, rule or regulation; provided, however, that Employee
notifies the Company in advance of such disclosure requirement and the Company is given a reasonable opportunity to intervene. 
  

	 	2.	 Disclosure of Company Inventions. 

Employee agrees to disclose promptly and fully in writing to Employee’s immediate supervisor or other person(s)
designated by the Company to receive such disclosures, all Company Inventions, current or proposed. 

	 	3.	 Ownership of Company Inventions. 

  

	 	a.	 Copyrights. 

In addition to the rights granted by Employee to the Company elsewhere in this Agreement, the following interests in
copyright shall vest in Company: 
 All Company Inventions that are first created and prepared by Employee under this
Agreement that are encompassed by the definition of a “work made for hire” under 17 U.S.C. § 101 of the U.S. Copyright Act of 1976 will be considered a “work made for hire,” and the Company will be deemed the sole author and
owner of all copyrights in any such works. For the avoidance of doubt, this section does not apply to any Creative Works that do not constitute Company Inventions. 

With respect to all Company Inventions that are first created and prepared by Employee under this Agreement that are not
covered by the definition of a “work made for hire” under 17 U.S.C. § 101 of the U.S. Copyright Act of 1976, such that Employee would be regarded as the copyright author and owner, Employee agrees to, and hereby does, assign and
transfer to the Company Employee’s entire right, title, and interest in and to such works, including all rights in the nature of the patent, copyright, trade secret or other intellectual property or proprietary rights therein. For the avoidance
of doubt, this section does not apply to any Creative Works that do not constitute Company Inventions. 
  

	 	b.	 Other Proprietary Rights. 

In addition to the rights granted by Employee to the Company elsewhere in this Agreement, Employee agrees to, and hereby
does, assign and transfer to the Company, and agrees that the Company shall be the sole and exclusive owner of, all Company Inventions, including all patent rights, know-how, trade secrets, confidential information, and any other intellectual
property rights arising therefrom or related thereto in each case recognized in the United States, any foreign jurisdiction or under any international treaty regime. The Company shall have the right to use all Company Inventions, whether original or
derivative, in any manner whatsoever. 
  

	 	c.	 Effectuating Company’s Rights. 

Employee agrees, during Employee’s employment with the Company and at any time thereafter, to execute any written
documents necessary to effectuate the assignment to the Company of any and all Company Inventions to which the Company is entitled as provided in this Agreement, and to execute all papers and perform any other lawful acts requested by the Company
for the preparation, prosecution, procurement, and maintenance of any trademark, copyright, patent and/or other intellectual property or other proprietary rights in and for the Company Inventions, and will execute all papers and perform any other
lawful acts necessary to vest title in the Company to the Company Inventions, and all intellectual property and/or proprietary rights therein, including, but not limited to, all trademarks, copyrights, and patents. In the event that the Company is
unable for any reason to secure Employee’s signature to any document relating to the Company Inventions that the Company requests Employee to execute 

 
under this Section 3, Employee hereby irrevocably designates and appoints the Company and the Company’s duly designated authorized officers and agents as Employee’s agents and
attorneys-in-fact to act for and on Employee’s behalf and, instead of Employee, to execute such document and to file such application and to do all other lawfully permitted acts with the same legal force and effect as if executed by Employee
with respect to such Company Inventions. Employee agrees that he will not be entitled to any compensation in addition to any salary or commissions, provided in connection with his employment with the Company, for providing any of the services in
this Section III, but Employee shall be reimbursed for actual expenses incurred in rendering the services. 
  

	 	d.	 Non-Assignable Rights. 

To the extent, if any, that any intellectual property rights in the Company Inventions are not assignable or that,
notwithstanding Section 3(c) above, Employee for any reason retains any right, title or interest in and to any Company Inventions, Employee: (i) unconditionally and irrevocably waives the enforcement of such rights, and all claims and
causes of action of any kind against the Company with respect to such rights; (ii) agrees, at the Company’s request and expense, to consent to and join in any action to enforce such rights; and (iii) hereby grants to the Company a
perpetual, irrevocable, fully paid-up, royalty-free, transferable, sublicensable (through multiple levels of sublicensees), exclusive (even as to Employee), worldwide right and license under such intellectual property rights to use, reproduce,
distribute, display and perform (whether publicly or otherwise), prepare derivative works of and otherwise modify, make, sell, offer to sell, import and otherwise use and exploit (and have others exercise such rights on behalf of the Company) all or
any portion of such Company Inventions. The license granted herein shall commence on creation of the Company Inventions and shall continue in perpetuity and without regard to the term of this Agreement or the term of Employee’s employment with
the Company. Employee hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, which Employee now or may hereafter have for infringement of any rights in the Company Inventions assigned hereunder to the Company. 

 

	 	e.	 Obligation to Keep Company Informed. 

During the term of Employee’s employment, Employee will promptly disclose to the Company fully and in writing all
Company Inventions. 
  

	 	f.	 Government or Third Party. 

Employee hereby agrees to assign all of his right, title and interest in and to any particular Company Invention to a third
party, including, without limitation, the United States, as directed by the Company. 
  

	 	g.	 Employee Inventions. 

The obligations of Employee set forth in this Section 3 (Ownership of Company Inventions) do not apply to any Employee
Inventions and Employee has no obligation to disclose or assign any Employee Inventions to Company. Company expressly acknowledges and agrees that Employee is and shall be the sole and exclusive owner of all Employee Inventions, including

 
all patent rights, know-how, trade secrets, confidential information and any other intellectual property rights arising therefrom or related thereto in each case recognized in the United States,
any foreign jurisdiction or under any international treaty regimen. To the extent, if any, that the Company retains any right, title or interest in and to any Employee Inventions, Company: (i) unconditionally and irrevocably waives the
enforcement of such rights, and all claims and causes of action of any kind against Employee with respect to such rights; (ii) agrees, at the Employee’s request and expense, to consent to and join in any action to enforce Employee’s
rights; and (iii) hereby grants to Employee a perpetual, irrevocable, fully paid-up, royalty-free, transferable, sublicensable (through multiple levels of sublicensees), exclusive (even as to Company), worldwide right and license under such
intellectual property rights to use, reproduce, distribute, display and perform (whether publicly or otherwise), prepare derivative works of and otherwise modify, make, sell, offer to sell, import and otherwise use and exploit (and have others
exercise such rights on behalf of Employee) all or any portion of such Employee Inventions. The licenses granted herein shall commence on creation of each applicable Employee Invention and shall continue in perpetuity and without regard to the term
of this Agreement or Employee’s employment with the Company. The Company hereby waives and quitclaims to Employee any and all claims, of any nature whatsoever, which Company now or may hereafter have for infringement of any rights in the
Employee Inventions assigned to Employee hereunder. Without limiting the generality of the foregoing, a written notification to the Employee of Labor Code § 2870 is attached hereto as Exhibit A. In the event of any dispute whether a Creative
Work is a Company Invention or an Employee Invention, the Company shall have the burden of proof to establish that the Creative Work is a Company Invention. 
  

	 	4.	 Equitable Remedies. 

The parties recognize that irreparable injury will result if either party breaches any provision of this Agreement, and each
of Company and Employee agree that if a party should engage, or directly cause any other person or entity to engage, in any act in violation of any provision of this Agreement, then the other party shall be entitled, in addition to any other
remedies, damages and relief as may be available under applicable law, to seek an injunction prohibiting the violating party from engaging in any such act or specifically enforcing this Agreement, as the case may be. It is understood and agreed that
no failure or delay by an enforcing party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the
exercise of any right, power or privilege under this Agreement. 
  

	 	5.	 Notice Regarding Compelled Disclosure.  

In the event that Employee is requested pursuant to or required by applicable law or regulation or by legal process to
disclose any Confidential Information, Employee shall provide the Company with prompt notice of such request(s) to enable the Company to seek an appropriate protective order or pursue other authorized procedures to challenge the attempt to compel
disclosure. Employee shall cooperate with the Company, at the Company’s expense, in its efforts to challenge such compelled disclosure. 

Notwithstanding anything herein to the contrary, nothing in this Agreement shall be construed to prohibit Employee from
reporting possible violations of federal or state law or 

 
regulations to any governmental agency or self-regulatory organization, or making other disclosures that are protected under whistleblower or other provisions of any applicable federal or state
law or regulations. Employee does not need the prior authorization of the Company or the Company’s legal department to make any such reports or disclosures and Employee is not required to notify the Company that he made such reports or
disclosures. 
  

	 	6.	 Non-Solicitation. 

  

	 	a.	 During Engagement with the Company. 

Acknowledgment. 

During Employee’s employment with the Company, the Company will provide Employee with resources, including, access to
the Confidential Information of the Company, to enable Employee to, among other things, develop, manage, enhance, maintain and/or support business and account relationships with the Company’s current and prospective Customers and/or Business
Partners. Employee acknowledges and agrees that such resources are provided at the Company’s expense and that the development, enhancement, maintenance and/or support of such business and account relationships with such Customers and/or
Business Partners are solely for the benefit of the Company. Employee further acknowledges and agrees that any business or account relationships with any Customers or Business Partners that Employee develops, manages, enhances, maintains or supports
in the course of Employee’s employment with the Company shall constitute Confidential Information and shall be the sole property of the Company. 

Non-Solicitation During Employment. 

Employee agrees that during the term of Employee’s employment with the Company, Employee shall not, either directly or
indirectly, on Employee’s own behalf or on behalf of any other person or entity, solicit or induce or attempt to solicit or induce (which shall include, without limitation, any contact or communications in any manner for the purpose of making
such a solicitation): (i) any current or prospective Customer of the Company to divert, transfer, withdraw or otherwise take any business from the Company; (ii) without the express prior written consent of the Company, any Business Partner
that provides products or services to the Company, or that has entered into a business relationship with the Company, to provide similar products or services to, or to enter into a similar business relationship with, any other individual or entity;
or (iii) any employee, consultant, advisor or independent contractor of the Company to terminate his relationship with the Company in order to become an employee, consultant, advisor or independent contractor of or to any other individual or
entity. 
  

	 	b.	 Non-Solicitation Following Termination. 

Employee agrees and covenants that for one (1) year after the date of termination of Employee’s employment with the
Company, Employee shall not, either directly or indirectly, on Employee’s own behalf or on behalf of any other individual or entity, use any Confidential Information (including any trade secrets of the Company) to solicit or induce, or attempt
to solicit or induce (which shall include, without limitation, any contact or communications in any manner for the purpose of making such a solicitation): (i) any previous or current Customers that

 
Employee provided services to, either directly or indirectly, and/or any prospective Customers whose identities Employee learned of as a result of or in connection with Employee’s employment
with the Company, to divert, transfer, withdraw or otherwise take any business or prospective business from the Company; (ii) without the express prior written consent of the Company, any Business Partner that provides products or services to
the Company, or that has entered into a business relationship with the Company, to provide similar products or services to, or to enter into a similar business relationship with, any other person or entity; or (iii) any employee, consultant,
advisor or independent contractor of the Company to terminate his relationship with the Company in order to become an employee, consultant, advisor or independent contractor of or to any other person or entity. 

 

	 	c.	 Protection of Confidential Information. 

Employee acknowledges and agrees that the purpose of this Section VI is to prevent the intentional and/or inadvertent
unlawful use of any Confidential Information, including any and all trade secrets of the Company. 
 d. General
Advertisements. Notwithstanding anything in this Section 6 to the contrary, nothing in this Agreement shall prohibit Employee, either directly or through any affiliated entity, from soliciting or hiring any person who responds to a general
advertisement or solicitation, including but not limited to advertisements or solicitations through newspapers, trade publications, periodicals, radio or internet database, or efforts by any recruiting or employment agencies not specifically
directed at employees of the Company. 
  

	 	7.	 No Conflicting Obligation. 

Employee represents, warrants and covenants that Employee’s performance of all the terms of this Agreement and as an
employee of the Company does not and will not breach any agreement to keep in confidence information acquired by Employee in confidence or in trust prior to his employment with the Company. Employee has not entered into, and Employee will not enter
into, any agreement, either written or oral, in conflict herewith. 
  

	 	8.	 Miscellaneous. 

  

	 	a.	 Entire Agreement; Amendment. 

This Agreement and the Employment Agreement being executed by Employee concurrently herewith contain the entire agreement of
the parties hereto, supersede all prior agreements, and understandings, whether oral or in writing, if any, relating to the subject matter hereof and may be amended only by written agreement of the parties hereto. 

 

	 	b.	 Severability. 

If any provision of this Agreement shall be held or deemed to be, or shall in fact be, invalid, inoperative or unenforceable
as applied to any particular case in any jurisdiction or jurisdictions, or in all jurisdictions or in all cases, because of the conflict of any provision with any constitution or statute or rule of public policy or for any other reason, such
circumstance shall not have the effect of rendering the provision or provisions in question invalid, inoperative 

 
or unenforceable in any other jurisdiction or in any other case of circumstance or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to the
extent that such other provisions are not themselves actually in conflict with such constitution, statute or rule of public policy, but this Agreement shall be reformed and construed in any such jurisdiction or case as if such invalid, inoperative
or unenforceable provision had never been contained herein and such provision reformed so that it would be valid, operative and enforceable to the maximum permitted in such jurisdiction or in such case. 

 

	 	c.	 Effective Date. 

This Agreement shall be effective on the Effective Date. 

 

	 	d.	 Survival. 

The provisions of Sections 1, 2, 3d, 3g, 5, 6, and 8 shall survive the termination of this Agreement and/or termination of
Employee’s employment with the Company. 
  

	 	e.	 Governing Law; Arbitration; Waiver of Jury Trial. 

This Agreement and the rights and obligations of the parties hereunder will be construed in accordance with and governed by
the law of the State of California without giving effect to the conflict of law principles thereof. If a dispute arises out of or relates to this Agreement, or its breach, and the parties have not been successful in resolving such dispute through
negotiation, the parties agree to attempt to resolve the dispute through mediation by submitting the dispute to a sole mediator selected by the parties or, at any time at the option of a party, to mediation by the American Arbitration Association
(“AAA”). If not thus resolved, it shall be referred to a sole arbitrator selected by the parties within thirty (30) days of the mediation or, in the absence of such selection, to final and binding arbitration by a sole arbitrator
under the AAA Arbitration Rules (“Rules”) in effect on the date of this Agreement. The mediation and arbitration, including arguments and briefs, shall be in the English language in the County of Los Angeles in the State of California. The
parties also agree that the arbitrator shall have the power to award any remedies, including attorneys’ fees and costs (including arbitration costs), available under applicable law. The decision of the arbitrator shall be in writing. The
arbitrator shall apply the substantive law of the State of California without giving effect to any principles of conflict of laws under the laws of the State of California. Any monetary award by the arbitrator shall be in United States Dollars only.
Judgment upon the award rendered in the arbitration may be entered in any court having jurisdiction thereof. Employee and the Company agree that each party shall bear its own expenses (including attorney’s fees) and an equal share of the
expenses of the mediator and arbitrator and the fees of the AAA. The parties, their representatives, other participants and the mediator and arbitrator shall hold the existence, content and result of the mediation and arbitration in confidence.
Nothing in this section shall be construed to preclude any party from seeking injunctive relief in order to protect its rights pending mediation or arbitration. A request by a party to a court for such injunctive relief shall not be deemed a waiver
or violation of the obligation to mediate or arbitrate. If either party seeks injunctive relief, the prevailing party shall be entitled to recover reasonable costs and attorneys’ fees. By agreeing to submit any disputes to arbitration in
accordance with this section, each party hereby fully and forever waivers such party’s right to a trial by jury of any such 

 
disputes, claims or controversies. In so doing, each party hereby acknowledges and agrees that judgment on any such disputes, claims or controversies submitted to arbitration hereunder may be
entered by the neutral arbitrator. 
  

	 	f.	 Notices. 

All notices, requests, demands and other communications which are required or may be given under this Agreement shall be in
writing and shall be deemed to have been duly given when received if personally delivered; if sent for next day delivery to a domestic address by recognized overnight delivery service (e.g., Federal Express); and upon receipt, if sent by
certified or registered mail, return receipt requested. In each case notice shall be sent to a party at such party’s address set forth on the signature page hereto (or to such other address as a party may have specified by notice given to the
other party pursuant to this Section 8f. 
  

	 	g.	 Attorneys’ Fees and Costs. 

In any legal action under the Agreement, the prevailing party shall be entitled to recover, in addition to its damages
(subject to any limitations stated elsewhere in the Agreement), its reasonable attorneys’ fees, expert witness fees and other ordinary and necessary costs of litigation. Such costs shall include, costs of any legal proceedings brought to
enforce a judgment or decree. 
  

	 	h.	 No Waiver. 

No delay or omission by the Company or Employee in exercising any right under this Agreement shall operate as a waiver of
that or any other right. A waiver or consent given by the Company or Employee on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

 

	 	i.	 Advice of Counsel. 

Employee acknowledges that, in executing this Agreement, Employee has had the opportunity to seek the advice of independent
legal counsel, and has read and understands all of the terms and provisions of this Agreement. 
  

	 	j.	 Counterparts; Facsimile; PDF. 

This Agreement may be executed in one or more counterparts, including facsimile and PDF electronic copies, each of which
shall be deemed to be an original copy of this Agreement and all of which, when taken together, shall be deemed to constitute one and the same Agreement. 
  

	 	k.	 Not an Employment Agreement. 

This Agreement is not an employment agreement and does not confer on the Employee any right to continue as an employee of the
Company for any specific term or duration or in any way interfere with the Company’s or the Employee’s right to terminate their employment relationship. 

	 	l.	 Consideration. 

Employee acknowledges receipt of an offer of employment or continued employment by the Company, and valuable confidential
information for the promises Employee has made in this Agreement. 
  

	 	m.	 Scope of Agreement. 

Employee and the Company acknowledge that Employee is involved (both individually and through affiliates) in other
entities in the pharmaceutical business. Notwithstanding anything to the contrary herein, including the provisions of Section 3, this Agreement is not intended to apply to, or result in the Company having an assignment of or ownership interest
in any Creative Works that do not constitute “Company Inventions” as defined herein. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have duly
executed this Confidentiality, Non-Solicitation and Assignment of Company Inventions Agreement as of the Effective Date. 
  

	
	 EMPLOYEE:

	
	 /s/ Patrick Soon-Shiong

	 Print Name: Patrick Soon-Shiong, M.D.

	
	 Address:

	
	 COMPANY:

	
	 Conkwest, Inc., a Delaware corporation

	
	 By: /s/ Barry J.
Simon                                

	 Print Name: Barry J. Simon, M.D.

	 Title: President & Chief Operating Officer

 SCHEDULE A 

Certain Outside Activities 
 The Company
acknowledges and agrees that Executive engages, and will continue to engage, in, both on his own and through one or more of his Affiliates, drug discovery, research, development and commercialization activities for the delivery of next-generation
therapeutics, diagnostics and technologies for the treatment of cancer, infectious diseases, inflammation and other critical illnesses. Currently, Employee is conducting Outside Activities on behalf of the following Affiliates (and such Outside
Activities include the drug discovery, research, development, commercialization and other activities referenced in or implied by patent applications filed by Executive and/or such Affiliates): 

NantBioScience, Inc. 

NantCell, Inc. 

NantPharma, LLC 

NanoCav, LLC 

NantOmics, LLC 

Immunotherapy NANTibody, LLC 

 EXHIBIT A 

COMPANY’S WRITTEN NOTIFICATION TO EMPLOYEE OF CALIFORNIA LABOR 

CODE § 2870 

In accordance with California Labor Code § 2870, you are hereby notified that this Agreement does not require you to
assign to the Company any invention for which no equipment, supplies, facility, or trade secrets of the Company was used, that was developed entirely on your own time, and that does not relate to the business of the Company or to the Company’s
actual or demonstrably anticipated research or development or does not result from any work performed by you for the Company. The following is the text of California Labor Code § 2870: 

(a) Any provision in an Employment Agreement which provides that an employee shall assign, or offer to assign, any of his or
her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for
inventions that either: 
 (1) Relate at the time of conception or reduction to practice of the invention to the
employer’s business, or actual or demonstrably anticipated research or development of the employer; or 
 (2) Result
from any work performed by the employee for the employer. 
 (b) To the extent a provision in an employment agreement
purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.

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