Document:

Exhibit
10.19

 

NON-QUALIFIED
STOCK OPTION AGREEMENT

FOR
COMPANY EMPLOYEES

UNDER
THE POLARITYTE, INC.

2020
STOCK OPTION AND INCENTIVE PLAN

 

	Name of Optionee:	 
	 	 
	No. of Option Shares:	 
	 	 
	Option Exercise Price per Share:	$
	 	[FMV on Grant Date]
	Grant Date:	 
	 	 
	Expiration Date:	 
	 	[No more than 10 years]

 

Pursuant
to the PolarityTE, Inc. 2020 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”), PolarityTE,
Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase
on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.001 per share
(the “Stock”) of the Company specified above at the Option Exercise Price per Share specified above subject to the
terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option”
under Section 422 of the Internal Revenue Code of 1986, as amended.

 

SECTION
1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become
exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the
Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the
following number of Option Shares on the dates indicated so long as Optionee continues to have a Service Relationship with
the Company or a Subsidiary on such dates:

 

	Incremental
        Number of

        Option
        Shares Exercisable
	 	Exercisability
    Date
	___________ (___%)	 	
	___________ (___%)	 	
	___________ (___%)	 	
	___________ (___%)	 	
	___________ (___%)	 	

 

Once
exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration
Date, subject to the provisions hereof and of the Plan.

 

SECTION
2. Manner of Exercise.

 

(a)       The
Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of
this Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of
the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased.

 

Payment
of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or
bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of
shares of Stock that have been purchased by the Optionee on the open market or that are beneficially owned by the Optionee and
are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required
by the Administrator; (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option
purchase price, provided that in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee
and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator
shall prescribe as a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the
Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market
Value that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments
will be received subject to collection.

 

    	 	2	 

    	 

    

 

The
transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i)
the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment
of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt
by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance
of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock
will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned
shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of
the Stock Option shall be net of the Shares attested to.

 

(b)       The
shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company
or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws
or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator
as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to
have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock
Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares
to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company.
Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock.

 

(c)       The
minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless
the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise
under this Stock Option at the time.

 

(d)       Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof.

 

SECTION
3. Termination of Service Relationship. If the Optionee’s Service Relationship by the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination
as set forth below.

 

(a)       Termination
Due to Death. If the Optionee’s Service Relationship terminates by reason of the Optionee’s death, any portion
of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by
the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration
Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and
be of no further force or effect.

 

(b)       Termination
Due to Disability. If the Optionee’s Service Relationship terminates by reason of the Optionee’s disability (as
determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the
date of such termination of Service Relationship, may thereafter be exercised by the Optionee for a period of 12 months from the
date of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date
of disability shall terminate immediately and be of no further force or effect.

 

(c)       Termination
for Cause. If the Optionee’s Service Relationship terminates for Cause, any portion of this Stock Option outstanding
on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall
mean, unless otherwise provided in an employment agreement (or similar services agreements) between the Company and the Optionee,
a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee
of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the
Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance
(other than by reason of disability) by the Optionee of the Optionee’s duties to the Company.

 

(d)       Other
Termination. If the Optionee’s Service Relationship terminates for any reason other than the Optionee’s death,
the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option
outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months
from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable
on the date of termination shall terminate immediately and be of no further force or effect.

 

    	 	3	 

    	 

    

 

The
Administrator’s determination of the reason for termination of the Optionee’s Service Relationship shall be conclusive
and binding on the Optionee and his or her representatives or legatees.

 

SECTION
4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed
by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan.
Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 

SECTION
5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner,
by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable,
during the Optionee’s lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative
or legatee.

 

SECTION
6. Tax Withholding. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a
taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment
of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have
the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares
of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding
amount due; provided, however, that the amount withheld does not exceed the maximum statutory tax rate or such lesser amount as
is necessary to avoid adverse accounting treatment or as determined by the Administrator.

 

SECTION
7. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result
of the Plan or this Agreement to continue the Optionee’s Service Relationship and neither the Plan nor this Agreement shall
interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the Optionee at
any time.

 

SECTION
8. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and
supersedes all prior agreements and discussions between the parties concerning such subject matter.

 

SECTION
9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity
grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”)
may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of
the Plan or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee (i) authorizes
the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy
rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit
such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which
the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information.
Relevant Information will only be used in accordance with applicable law.

 

    	 	4	 

    	 

    

 

SECTION
10. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall
be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one
party may subsequently furnish to the other party in writing.

 

	 	POLARITYTE,
                                         INC.

	 	 	 
	 	By:
    	               
	 	Name:
    	
	 	Title:
    	

 

    	 	5	 

    	 

    

 

The
foregoing Agreement is hereby accepted, and the terms and conditions thereof hereby agreed to by the undersigned. Electronic acceptance
of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process)
is acceptable.

 

	Dated:		 	
	 	 	 	Grantee’s Signature
	 	 	 	 
	 	 	 	Grantee’s Name
    and address:
	 	 	 	 
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	

 

    	 	6Exhibit
10.20

 

NON-QUALIFIED
STOCK OPTION AGREEMENT

FOR
NON-EMPLOYEE CONSULTANTS

UNDER
THE POLARITYTE, INC.

2020
STOCK OPTION AND INCENTIVE PLAN

 

	Name
    of Optionee:	 
	 	 
	No.
    of Option Shares:	 
	 	 
	Option
    Exercise Price per Share:	$
	 	[FMV
    on Grant Date]
	Grant
    Date:	 
	 	 
	Expiration
    Date:	 
	 	[No
    more than 10 years]

 

Pursuant
to the PolarityTE, Inc. 2020 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”), PolarityTE,
Inc. (the “Company”) hereby grants to the Optionee named above, who is a Consultant of the Company, an option (the
“Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares
of Common Stock, par value $0.001 per share (the “Stock”), of the Company specified above at the Option Exercise Price
per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended
to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended.

 

SECTION
1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable.
Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate
the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares
on the dates indicated so long as the Optionee remains in service to the Company or a Subsidiary as a Consultant on such dates:

 

	Incremental
                                         Number of

        Option
        Shares Exercisable
	 	Exercisability
    Date
	___________
    (___%)	 	
	___________
    (___%)	 	
	___________
    (___%)	 	
	___________
    (___%)	 	
	___________
    (___%)	 	

 

Once
exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration
Date, subject to the provisions hereof and of the Plan.

 

SECTION
2. Manner of Exercise.

 

(a)
The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date
of this Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all
of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased.

 

Payment
of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or
bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of
shares of Stock that have been purchased by the Optionee on the open market or that are beneficially owned by the Optionee and
are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required
by the Administrator; (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option
purchase price, provided that in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee
and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator
shall prescribe as a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the
Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market
Value that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments
will be received subject to collection.

 

    	 

    	 

    

 

The
transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i)
the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment
of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt
by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance
of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock
will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned
shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of
the Stock Option shall be net of the Shares attested to.

 

(b)
The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company
or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws
or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator
as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to
have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock
Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares
to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company.
Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock.

 

(c)
The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless
the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise
under this Stock Option at the time.

 

(d)
Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration
Date hereof.

 

SECTION
3. Termination of Service Relationship. If the Optionee ceases to have a Service Relationship with the Company or a Subsidiary
for any reason, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date
the Optionee ceased to provide services, for a period of three months from the date the Optionee ceased to provide services or
until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date the Optionee ceases
to have a Service Relationship with the Company or a Subsidiary shall terminate immediately and be of no further force or effect.

 

SECTION
4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed
by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan.
Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 

SECTION
5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner,
by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable,
during the Optionee’s lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative
or legatee.

 

SECTION
6. No Obligation to Continue Service Relationship. Neither the Plan nor this Stock Option confers upon the Optionee any
rights with respect to the continuance of Optionee’s Service Relationship with the Company or a Subsidiary.

 

    	 

    	 

    

 

SECTION
7. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and
supersedes all prior agreements and discussions between the parties concerning such subject matter.

 

SECTION
8. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity
grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”)
may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of
the Plan or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee (i) authorizes
the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy
rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit
such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which
the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information.
Relevant Information will only be used in accordance with applicable law.

 

SECTION
9. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall
be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one
party may subsequently furnish to the other party in writing.

 

	 	POLARITYTE,
    INC.
	 	 	 
	 	By:
    	               
	 	Name:
    	
	 	Title:
    	

 

    	 	2	 

    	 

    

 

The
foregoing Agreement is hereby accepted, and the terms and conditions thereof hereby agreed to by the undersigned. Electronic acceptance
of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process)
is acceptable.

 

	Dated:		 	
	 	 		Grantee’s
    Signature
	 	 	 	 
	 	 		Grantee’s
    Name and address:
	 	 	 	 
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	

 

    	 	3

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