Document:

Portions of this document have been redacted
pursuant to a Request for Confidential Treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2 under
the Securities Exchange Act of 1934, as amended. Redacted portions are indicated with the notation “*”.

 

RESEARCH AGREEMENT

 

This Research Agreement (the
“Agreement”), effective as of June 18th, 2012 (“Effective Date”), is entered into by and between Enumeral
Biomedical Corp., a Delaware corporation with an address at 1450 Broadway, 24th Floor, New York, New York 10018
("ENUMERAL"), and sanofi-aventis U.S. Inc., having an address at 1041 Route 202-206, P.O. Box 6800, Bridgewater,
NJ 08807-0800 (hereinafter referred to as “SANOFI US”). Each of ENUMERAL and SANOFI US are referred to herein
as a “Party” or collectively as the “Parties”.

 

WHEREAS, SANOFI US wishes to fund a research
project to be performed by ENUMERAL, for the purpose of evaluating ENUMERAL’s technology and capabilities and to obtain useful
antibodies to *; and to determine if the respective Parties wish to consider further business arrangements and transactions with
the other Party

 

WHEREAS, ENUMERAL, wishes to perform such research
project, in accordance with the terms and conditions set forth in this Agreement, for the sole purposes of demonstrating its capabilities,
obtaining *, and determining if they wish to consider further business arrangements and transactions with the other Party;

 

NOW THEREFORE, in consideration of the promises
and mutual covenants set forth herein, ENUMERAL and SANOFI US agree as follows:

 

1.            DEFINITIONS

 

A.           “Affiliate”
of a Party shall mean any person or entity directly or indirectly controlling, controlled by, or under common control with a Party,
and for this purpose, "control," "controlling" and "controlled by" shall mean the ownership and control
of more than fifty percent (50%) of the outstanding voting securities or interest in capital or profits of any person or entity,
or the right to direct or control the management or affairs of any person or entity by contract or similar arrangement.

 

B.           “Background
Technology” shall have the meaning set forth in Section 6A.

 

C.           “Co-owned
ENUMERAL Sole Invention” means any ENUMERAL Sole Invention that is not an ENUMERAL Improvement. For the avoidance of doubt,
Co-owned ENUMERAL Sole Inventions include any antibodies, their sequences and parts thereof identified by ENUMERAL in the Research.

 

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D.           “ENUMERAL
Improvement” means an Invention that is an improvement of ENUMERAL’s Background Technology that does not *, SANOFI
US’ Confidential Information or SANOFI US’ Background Technology, and which ENUMERAL is able to replicate without any
use of SANOFI US Materials, SANOFI US’ Confidential Information and/or SANOFI US’ Background Technology.

 

E.           “Data”
means all data from the performance of the Research, other than data relating to SANOFI US’s * screening, including without
limitation all results and reports relating to the Research.

 

F.           “ENUMERAL
Sole Invention” shall mean an Invention made by one or more inventors all of whom are required to assign rights in the Invention
to ENUMERAL.

 

G.           “Non-compete
Field” shall mean *.

 

H.           “Invention”
shall mean any invention or discovery that is conceived and / or reduced to practice by one or more employees, contractors or agents
of ENUMERAL and / or one or more employees, Affiliates, contractors or agents of SANOFI US in the performance of the Research.

 

I.           “Joint
Invention” shall mean (i) an Invention made by more than one inventor in which at least one inventor is required to assign
rights in the Invention to SANOFI US, and at least one inventor is required to assign rights in the Invention to ENUMERAL and/or
any Co-owned ENUMERAL Sole Invention.

 

J.           “Permitted
Data Use Field” shall have the meaning set forth in Section 6G.

 

K.          “Program
Committee” shall have the meaning set forth in Section 4C.

 

L.           “Research”
shall mean the research program that is described in Exhibit A.

 

M.“SANOFI US Materials” shall
mean any * or other materials provided by SANOFI US to ENUMERAL to perform the Research, together with any fragments, progeny,
portion, derivatives, hybrids, antibodies or analogs thereof.

 

N.           “SANOFI
US Sole Invention” shall mean an Invention made by one or more inventors all of who are required to assign rights in the
Invention to SANOFI US.

 

O.           “Sole
Invention” shall mean an Invention made by one or more inventors all of whom are required to assign rights in the Invention
to a single Party.

 

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2.           SCOPE
OF WORK

 

The scope of the work to be performed by the
Parties under this Agreement shall be the Research as described in Exhibit A or any revisions of Exhibit A mutually agreed upon
in writing by duly authorized representatives of ENUMERAL and SANOFI US. Each Party shall conduct its respective portion of the
Research, using its own facilities and equipment, in a good scientific manner and in compliance with applicable legal requirements,
but within the scope of, research plan per the attached Exhibit A, and ENUMERAL shall not exceed the budget set forth in the attached
Exhibit A. Employees, collaborators and other persons involved in the Research on behalf of ENUMERAL are or will be made aware
of, and have or will have undertaken to comply with ENUMERAL’s obligations hereunder.

 

3.           COMPENSATION

 

As consideration for the performance of the
Research, the options contained herein and the Non-compete set forth in Section 6.H, SANOFI US shall pay ENUMERAL the fees set
forth in Exhibit B attached hereto and perform those parts of the Research delegated to SANOFI US in Exhibit A, including, without
limitation, supply of certain materials set forth in Exhibit A. No other form of compensation shall be paid by SANOFI US to ENUMERAL
except as otherwise approved in writing by SANOFI US. Prior to payment by SANOFI US of all or any portion of the fees, ENUMERAL
must submit an invoice to SANOFI US on or after the dates set forth on Exhibit B, which shall reference the applicable purchase
order number provided by SANOFI US to ENUMERAL (each, an "Invoice"). Each Invoice shall be addressed to: sanofi-aventis
U.S. Inc., P.O. Box 30147, College Station, TX 77842. Additionally, each Invoice shall be accompanied by receipts or other such
supporting data as may be reasonably required by SANOFI US. Approved Invoices shall be paid by SANOFI US via check within forty-five
(45) days after SANOFI US receives a proper Invoice from ENUMERAL which check shall be sent to the following address:

 

Enumeral Biomedical Corporation

 

1450 Broadway, 24th Floor

 

New York, NY, 10018

 

4.            MEETINGS
AND REPORTS

 

A.           Researchers
from ENUMERAL and the SANOFI US shall meet at mutually agreed upon times including those indicated in Exhibit A and further as
reasonably requested by SANOFI US, in person or by teleconference, to review results of the Research. Within sixty (60) calendar
days after the expiration or termination of this Agreement, ENUMERAL shall submit a comprehensive final report to SANOFI US. and
SANOFI US shall submit a final report to ENUMERAL as described on Exhibit A,

 

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B.           On
reasonable prior notice, and subject to the availability during regular working hours of the necessary ENUMERAL personnel, representatives
of SANOFI US may visit the facilities where the Research is being performed.

 

C.           
A Program Committee comprised of two representatives from each of ENUMERAL and SANOFI US shall be formed to oversee intellectual
property and aspects of administration related to the Research. The Program Committee shall meet on an as-needed basis or when
convened by any of its members.

 

5.            PUBLICATION

 

Neither Party shall be permitted
to present at symposia, national or regional meetings, and to publish journal articles, theses or dissertations (each, a "Publication"),
methods and results of the Research (collectively, the "Results") without the prior written consent of the other Party.

 

6.            INTELLECTUAL
PROPERTY

 

A.           Background
Technology. All rights and title in and to any and all inventions, discoveries, data, chemical entities, compounds and materials
developed or controlled by either Party prior to the Effective Date or during the Term, but not as a result of, in connection with
or otherwise related to the Research Plan (collectively, the "Background Technology"), whether or not patentable, shall
reside with the owner thereof and, except as otherwise set forth herein, such ownership and rights thereto shall not be affected
by the Research Plan or a Party's performance of its obligations hereunder. Each Party grants the other Party a limited right to
use its Background Technology solely for the direct performance of the Research during the term of this Agreement. To the extent
that Background Technology is not prohibitively encumbered by third parties, either Party shall make Background Technology available
to the other Party as needed for the Research Plan.

 

B.           Inventorship
and Ownership. Inventorship of Inventions will be determined in accordance with principles of U.S. patent law. Joint Inventions
shall be jointly owned by the Parties. ENUMERAL Co-owned Sole Inventions shall be co-owned. ENUMERAL Improvements shall be owned
by ENUMERAL. SANOFI US Sole Inventions shall be owned by SANOFI US.

 

ENUMERAL represents that all of its personnel
who may be involved in the Research have agreed to assign to ENUMERAL all rights to any Inventions developed or made by such personnel
under this Agreement.

 

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C.           Joint
Inventions. Each Party shall notify the other Party via the Program Committee promptly of any Joint Invention of which it becomes
aware and shall together seek in good faith to determine patentability and inventorship of the Invention in accordance with principles
of United States patent law. ENUMERAL hereby grants to SANOFI US an *. Such option shall be for a * period commencing on the date
SANOFI US receives notice of any such Joint Invention. Notice, for purposes of this section, shall mean written notice explaining
the invention in detail, including the filed priority application. If SANOFI US elects to exercise its option, SANOFI US shall
have * days following the date of such exercise (“Joint Invention Negotiation Period”) to negotiate in good faith terms
of a *, wherein such *. The Joint Invention Negotiation Period may be extended by mutual written agreement of ENUMERAL and SANOFI
US. In the event that the parties fail to reach agreement on * terms within the Joint Invention Negotiation Period, including any
extensions thereof, ENUMERAL may * its rights in any such Joint Invention to a third party, subject to the * (“New Joint
Invention Terms”).   Upon receipt of New Joint Invention Terms, SANOFI US shall have * business days from receipt of
the New Joint Invention Terms to accept the New Joint Invention Terms in writing. If the SANOFI US does not does accept the New
Joint Invention Terms in writing, ENUMERAL shall have the right to * in Joint Inventions to third parties without restriction.

 

In the event that SANOFI US does not exercise
its option, ENUMERAL, upon expiration of the time period for SANOFI US to exercise its option to negotiate an * for ENUMERAL’s
interest in Joint Inventions, ENUMERAL shall be granted an * option to negotiate a *, to SANOFI US’ rights in any the Joint
Invention. Such option shall be for a * period commencing on the date of expiration of the time period for SANOFI US to exercise
its option. If ENUMERAL elects to exercise its option, ENUMERAL shall have * days following the date of such exercise (“ENUMERAL
Joint Invention Negotiation Period”) to negotiate in good faith terms of a *, wherein such *. The ENUMERAL Joint Invention
Negotiation Period may be extended by mutual written agreement of ENUMERAL and SANOFI US. In the event that the parties fail to
reach agreement on * terms within the ENUMERAL Joint Invention Negotiation Period, including any extensions thereof, SANOFI US
may * in any such Joint Invention to a third party, subject to the *.   Upon receipt of new terms, ENUMERAL shall have * business
days from receipt of the new terms to accept the new terms in writing. If the ENUMERAL does not does accept the new terms in writing,
SANOFI US shall have the right to * in Joint Inventions to third parties without restriction.

 

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D.           ENUMERAL
Sole Inventions. ENUMERAL shall notify SANOFI US promptly of any ENUMERAL Sole Inventions. ENUMERAL hereby assigns and conveys
to SANOFI-AVENTIS or any of its Affiliates, at no additional cost to SANOFI-AVENTIS, one half of ENUMERAL's right, title and interest
to any and all resulting Co-owned ENUMERAL Sole Inventions. ENUMERAL agrees to execute all applications or registrations for patents
and copyrights, and any other instruments deemed necessary or helpful for SANOFI-AVENTIS or its Affiliates to secure and enforce
its rights hereunder. ENUMERAL hereby grants to SANOFI US and its Affiliates an exclusive option to negotiate a worldwide, exclusive
license, with the right to sublicense, to ENUMERAL's remaining rights in any Co-owned ENUMERAL Sole Invention. Such option shall
be for a one year period commencing on the date SANOFI US receives notice of any such Co-owned ENUMERAL Sole Invention. Notice,
for purposes of this section, shall mean written notice explaining the invention in detail, including, if filed, the filed priority
application. If SANOFI US elects to exercise its option, SANOFI US shall have one hundred eighty (180) days following the date
of such exercise (“Sole Invention Negotiation Period”) to negotiate in good faith terms of a license, wherein such
license shall include terms common to the industry. The Sole Invention Negotiation Period may be extended by mutual written agreement
of ENUMERAL and SANOFI US. In the event that the Parties fail to reach agreement on exclusive license terms within the Sole Invention
Negotiation Period, including any extensions thereof, then all of ENUMERAL’s rights to such Co-owned ENUMERAL Sole Invention
shall remain with ENUMERAL, subject to the restriction that any terms offered to any third party within twenty (24) months of expiration
of the Sole Invention Negotiation Period may not be more favorable than any terms last offered in writing to SANOFI US prior to
the offering to the third party (“New Sole Invention Terms”).   Upon receipt of New Sole Invention Terms, SANOFI
US shall have twenty (20) business days from receipt of the New Sole Invention Terms to accept the New Sole Invention Terms in
writing. If SANOFI US does accept the New Sole Invention Terms in writing, ENUMERAL shall have the right to license ENUMERAL’s
rights in any such Co-owned ENUMERAL Sole Invention to third parties without restriction.

 

In the event that SANOFI US either does not exercise its option,
ENUMERAL, upon expiration of the time period for SANOFI US to exercise its option to negotiate an exclusive license, ENUMERAL shall
be granted an exclusive option to negotiate a worldwide, exclusive license, with the right to sublicense, to SANOFI US’ rights
in any ENUMERAL Sole Invention. If ENUMERAL elects to exercise its option, ENUMERAL shall have one hundred eighty (180) days following
the date of such exercise (“ENUMERAL Sole Invention Negotiation Period”) to negotiate in good faith terms of a license,
wherein such license shall include terms common to the industry. The ENUMERAL Sole Invention Negotiation Period may be extended
by mutual written agreement of ENUMERAL and SANOFI US. In the event that the parties fail to reach agreement on license terms within
the ENUMERAL Sole Invention Negotiation Period, including any extensions thereof, SANOFI US may license its rights in any such
Joint Invention to a third party, subject to the restriction that any terms offered to any third party within twenty (24)
months of expiration of the such negotiation period may not be more favorable than any terms last offered in writing to ENUMERAL
prior to the offering to the third party.   Upon receipt of new terms, ENUMERAL shall have twenty (20) business days from
receipt of the new terms to accept the new terms in writing. If the ENUMERAL does not does accept the new terms in writing, SANOFI
US shall have the right to license its interest in Joint Inventions to third parties without restriction.

 

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E.           Option
for Engineered Antibodies. During the term and for five(5) years thereafter, ENUMERAL shall promptly notify SANOFI US of any
*, invented by or on behalf of ENUMERAL relating to a Co-owned ENUMERAL Sole Invention (“Engineered Antibodies”). ENUMERAL
hereby grants to SANOFI US and its Affiliates an exclusive option to negotiate a worldwide, exclusive license, with the right to
sublicense, to all Engineered Antibodies. Such option shall be for a one year period commencing on the date SANOFI US receives
notice of invention of any such Engineered Antibody. Notice, for purposes of this section, shall mean written notice explaining
the invention in detail, including, if filed, the filed priority application. If SANOFI US elects to exercise its option, SANOFI
US shall have one hundred eighty (180) days following the date of such exercise (“Engineered Antibody Negotiation
Period”) to negotiate in good faith terms of a license, wherein such license shall include terms common to the industry.
The Engineered Antibody Negotiation Period may be extended by mutual written agreement of ENUMERAL and SANOFI US. In the
event that the Parties fail to reach agreement on exclusive license terms within the Engineered Antibody Negotiation Period,
including any extensions thereof, then all of ENUMERAL’s rights to such Engineered Antibody shall remain with ENUMERAL, subject
to the restriction that any terms offered to any third party within twenty (24) months of expiration of the Engineered Antibody
Negotiation Period may not be more favorable than any terms last offered in writing to SANOFI US prior to the offering to the
third party (“New Engineered Antibody Terms”).   Upon receipt of New Engineered Antibody Terms,
SANOFI US shall have twenty (20) business days from receipt of the New Engineered Antibody Terms to accept the New Engineered
Antibody Terms in writing. If SANOFI US does accept the New Engineered Antibody Terms in writing, ENUMERAL shall
have the right to license ENUMERAL’s rights in any such engineered antibody to third parties without restriction.

 

F.           Prosecution
and Expenses of Joint Inventions. SANOFI US and ENUMERAL shall decide, on a case by case basis, whether or not and where to
file patent applications for Joint Inventions (including Co-owned ENUMERAL Sole Inventions). The Parties shall jointly participate
in decisions regarding filing, prosecution and maintenance. Mutually acceptable counsel (in-house of either Party or law firm)
shall be appointed that shall handle filing and prosecution of Joint Inventions. Both Parties agree to cooperate and execute all
documents which are necessary for the filing, prosecution and maintenance of such patent applications. Should the Parties enter
into an exclusive license agreement pursuant to Section 6C or 6D, the party licensing such rights from the other party shall control
prosecution and maintenance at its expense during the term of such agreement.

 

G.          CREATE Act. Notwithstanding
anything to the contrary in this Section 6, each Party shall have the right to invoke the Cooperative Research and Technology Enhancement
Act of 2004, 35 U.S.C. 103(c)(2)-(c)(3) (the “CREATE Act”) when exercising its rights under this Section 6, without
the prior written consent of the other Party. Where a Party intends to invoke the CREATE Act, as permitted by the preceding sentence,
it shall notify the other Party and the other Party shall cooperate and coordinate its activities with the invoking Party with
respect to any submissions, filings or other activities in support thereof. The Parties acknowledge and agree that this Agreement
is a “joint research agreement” as defined in the CREATE Act. The specification of any patent application filed pursuant
to this Agreement shall contain language required to invoke the CREATE Act as applicable.

 

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H.           Data
Ownership and Right to Use Data.

 

(a)          All Data shall be owned by SANOFI US
and is Confidential Information of SANOFI US.

 

(b)          SANOFI US grants ENUMERAL the right
to use the Data, solely for its own internal research excluding (i) any use in any and all * and/or (ii) the Non-compete
Field in accordance with the provisions of this Section 6.G (hereinafter referred to as “Permitted Data Use Field”).
ENUMERAL shall (i) hold such Data in strict confidence; (ii) not disclose such Confidential Information to any third party, (iii)
use such Data only as necessary for internal research and not for any other purpose; (iv) upon breach of this Section 6.G. or upon
written request of SANOFI US, destroy all Data in its possession and provide a written certification of such destruction to SANOFI
US; and (v) protect Data from disclosure with at least that degree of care used by ENUMERAL in dealing with its own confidential
information and shall take reasonable steps to minimize the risk of an unauthorized disclosure of Data.

 

I.           Noncompete.

 

During the Term and for a period of seven (7)
years thereafter, ENUMERAL, its Affiliates, and their respective officers, directors, agents, successors, employees and permitted
assigns, shall not provide any goods or services, directly or indirectly, to any third party in the Non-compete Field.

 

7.            INDEMNIFICATION

 

A.           Indemnification
by SANOFI US. SANOFI US hereby agrees to indemnify, defend, and hold harmless ENUMERAL, its Affiliates, and their respective
officers, directors, agents, successors, employees and permitted assigns (collectively, the "ENUMERAL Indemnified Parties"),
from and against any and all losses, expenses, costs (including reasonable attorneys' fees), liabilities, damages, claims, suits
or proceedings (each a "Claim") arising out of or in connection with the (a) a material breach of this Agreement by SANOFI
US; and (b) the negligence, willful misconduct, fraud or misrepresentation by any SANOFI US Indemnified Party (as defined in Section
7B below); provided, however, SANOFI US' indemnification obligations hereunder shall not apply to the extent that such Claim is
attributable to the negligent or wrongful acts or omissions, willful malfeasance, fraud or misconduct by any ENUMERAL Indemnified
Party.

 

B.           Indemnification
by ENUMERAL. ENUMERAL hereby agrees to indemnify, defend, and hold harmless SANOFI US, its Affiliates, and their respective
officers, directors, agents, successors, employees and permitted assigns (collectively, the "SANOFI US Indemnified Parties"),
from and against any and all Claims arising out of or in connection with the (a) a material breach of this Agreement by ENUMERAL;
and (b) the negligence, willful misconduct, fraud or misrepresentation by any ENUMERAL Indemnified Party; provided, however, ENUMERAL's
indemnification obligations hereunder shall not apply to the extent that such Claim is attributable to the negligent or wrongful
acts or omissions, willful malfeasance, fraud or misconduct by any SANOFI US Indemnified Party.

 

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C.           Notification
of Claims. The Party seeking indemnification hereunder (the "Indemnified Party") shall notify the other Party (the
"Indemnifying Party") in writing of any asserted claim as soon as practicable. Failure to provide such notice, which
substantially prejudices the Indemnifying Party's ability to defend such claim or action, may invalidate any obligation of indemnification.
The Indemnified Party must authorize and permit the Indemnifying Party to exercise sole control of the defense and disposition
of any claim or action, including all decisions related to litigation, appeal or settlement, provided, however, that the Indemnifying
Party shall not settle any claims or action that would be deemed to confess wrongdoing on the part of the Indemnified Party without
the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld. Notwithstanding the foregoing,
the Indemnified Party shall nevertheless be entitled to retain separate counsel at its own cost to participate in such matter;
however, the Indemnifying Party shall have sole case management authority. Each Party hereto shall cooperate with the other in
every reasonable way to facilitate the defense of any such claim.

 

8.            REPRESENTATIONS
AND WARRANTIES

 

A.           Mutual
Representations and Warranties. Each Party represents and warrants to the other that (a) it is a corporation duly organized,
validly existing and in good standing under the laws of its state of incorporation; (b) it has the right and authority to execute
and deliver this Agreement and to perform its obligations contemplated hereunder; (c) this Agreement is a legal, valid and binding
agreement of the Party and enforceable against it; (d) the execution and delivery of this Agreement will not, to each Party's knowledge,
violate any statute, regulation or any other restriction upon the Party; (e) it has secured all requisite authorizations and approvals
necessary for the execution, delivery and performance of this Agreement; and (f) it is not subject to any restrictive obligations
imposed by any third party which would prevent or impair its ability to enter into this Agreement or fulfill its obligations hereunder,
nor will it knowingly enter into any agreement with any other party that would in any way prevent it from performing its obligations
under this Agreement.

 

B.           ENUMERAL
Representations and Warranties. Additionally, ENUMERAL represents, warrants and covenants to SANOFI US as follows:

 

(a)          neither
it nor any individual employed or engaged by ENUMERAL has ever been and is not currently (i) under investigation for debarment
or debarred pursuant to the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335(a), as amended, or any similar state law
or regulation; (ii) excluded by the Office of Inspector General pursuant to 42 U.S.C. § 1320a-7, et seq. or any state agency
from participation in any federal or state health care program; or (iii) otherwise disqualified or restricted by the FDA pursuant
to 21 C.F.R. 312.70 or any other regulatory authority, nor will ENUMERAL knowingly utilize any debarred, excluded or disqualified
personnel to perform the Research hereunder;

 

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(b)          it
will notify SANOFI US immediately in the event any investigation or proceeding for debarment, exclusion or disqualification is
initiated against ENUMERAL or any individual employed or engaged by ENUMERAL that is performing the Research hereunder;

 

(c)          it
shall perform the Research in compliance in all material respects with all applicable foreign, federal, state and local laws, rules
and regulations;

 

(d)          it
shall use reasonable efforts to perform the Research in accordance with the terms and conditions of this Agreement;

 

(e)          it
will use shall use the SANOFI US Materials solely for the Research shall not chemically or biologically modify any SANOFI US Materials,
except as may be explicitly set forth in Exhibit A; and

 

(f)          during
the term of this Agreement, and the option periods described in Sections 6C, 6D and 6E, ENUMERAL shall not enter into any * agreement
with any third party.

 

9.            LIMITATION
OF LIABILITY

 

NEITHER
party shall be liable to the other party for any indirect, special, incidental, reliance or consequential damages of any kind,
regardless of the form of action whether in contract, tort (including without limitation negligence), strict liability, or other
legal or equitable theory, even if the other party has been advised of the possibility of such damages; provided, however, this
limitation of liability shall not be construed to limit a party's liability with respect to its indemnification obligations set
forth in section 7 or with respect to any breaches of a Party’s obligations of confidentiality and INTELLECTUAL PROPERTY
PROVISIONS set forth in THIS AGREEMENT OR ENUMERAL’S BREACH OF THE NON-COMPETE SET FORTH IN SECTION 6.H.

 

10.          PUBLICITY

 

Neither Party shall use the other Party’s
name or insignia, or any adaptation of them, or the name of the researcher(s) of the other Party in any advertising, promotional
or sales literature, without the prior written approval of the other Party. This restriction shall not apply to: (i) annual or
other periodical reports prepared by either Party in the normal course of business; and (ii) any information required by law to
be disclosed.

 

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11.         CONFIDENTIALITY

 

A.           SANOFI
US Confidential Information. ENUMERAL acknowledges and agrees that any data, know-how, documents, materials or information
of any type whatsoever, in whatever form or medium, whether or not marked as "confidential" and/or "proprietary,"
and which could reasonably be expected to be valuable to SANOFI US, including but not limited to, any information concerning or
relating to the property, products, research, technology, compound/product structure and other identifying information relating
to compounds/products, SANOFI US Background Technology, SANOFI US Sole Inventions, business and affairs of SANOFI US or its Affiliates,
that is learned, disclosed to or becomes known by ENUMERAL in connection with the Research, shall be deemed to be confidential
information of SANOFI US (collectively, "SANOFI US Confidential Information"). For the avoidance of doubt, any information
disclosed by SANOFI US to ENUMERAL concerning the * technology is SANOFI US Confidential Information.

 

B.           ENUMERAL
Confidential Information. SANOFI US acknowledges and agrees that any data, know-how, documents, materials or information relating
to ENUMERAL Background Technology or ENUMERAL Improvements, in whatever form or medium, whether or not marked as "confidential"
and/or "proprietary," and which could reasonably be expected to be valuable to ENUMERAL, that is learned, disclosed to
or becomes known by SANOFI US in connection with the Research, and which is not SANOFI US Confidential Information, shall be deemed
to be confidential information of ENUMERAL (collectively, "ENUMERAL Confidential Information").

 

C.           Restrictions
on Use of Confidential Information. (i) Except as otherwise expressly provided herein, the Party receiving Confidential information
(the “Receiving Party”) from the other Party (the “Disclosing Party”) shall (a) hold such Confidential
Information in strict confidence; (b) not disclose such Confidential Information to any third party, except to its Affiliates,
bona fide research and development collaborators, agents and subcontractors who "need to know"; provided, however, that
such agents and contractors agree in writing to abide by the confidentiality provisions set forth herein; (c) use such Confidential
Information only as necessary to perform the Research and not for any other purpose; (d) upon termination of this Agreement, destroy
or return to the Disclosing Party, at the Disclosing Party's option, all tangible Confidential Information in its possession and
in the possession of any Affiliates, agents and subcontractors; and (e) protect Confidential Information received from disclosure
with at least that degree of care used by the Receiving Party in dealing with its own confidential information and shall take reasonable
steps to minimize the risk of an unauthorized disclosure of Confidential Information.

 

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(ii) SANOFI US has provided
some additional limited rights for use of Data, which is Confidential Information, all of which are set forth in Section 6.G and
referred to therein as the Permitted Data Use Field. In the event of any actual or perceived conflict between the terms of this
Section and Section 6.G, the Parties intend that the increased use of the Data by ENUMERAL be permitted in the Permitted Data Use
Field, with the more restrictive provisions set forth in Section 6.G superseding those set forth in Section 11.C.i above, and that
Section 11.A, Section 11.D and Section 11.E remain applicable to the Data.

 

D.           Exceptions
to Confidential Information. Notwithstanding the foregoing, Confidential Information shall not include information which: (i)
is or hereafter becomes generally available to the public other than by reason of any breach hereof; (ii) was already known to
the Receiving Party, prior to the date of disclosure; (iii) is disclosed to the Receiving Party by a third party who has the right
to disclose such information without any obligations of confidentiality; (iv) is developed by or on behalf of the Receiving Party
independently, without reliance on Confidential Information received hereunder, as demonstrated by written records; or (v) is otherwise
required to be disclosed by the Receiving Party in order to comply with applicable legal requirements of a public authority, law,
rule of court or regulation, provided that (a) the Receiving Party promptly notifies the Disclosing Party of the obligation to
disclose in order to allow the Disclosing Party to object or seek a protective order, (b) the Receiving Party only discloses the
minimum amount of Confidential Information that is necessary to comply with the required disclosure; and (c) such information remains
Confidential Information for all other purposes.

 

E.           Restricted
Period. These restrictions upon disclosure and use of Confidential Information shall continue during the Term and shall extend
beyond the Term for a period of seven (7) years, provided, however, with respect to any Confidential Information that constitutes
a trade secret (as determined under applicable law), such restrictions on disclosure and/or use shall survive the date of termination
for as long as such Confidential Information remains a trade secret but, in no event, shall such restrictions on disclosure and/or
use cease prior to the expiration of seven (7) years following the expiration of the Term.

 

12.         INDEPENDENT
CONTRACTOR

 

Neither Party shall be or be deemed to be employees
or agents of the other. Neither Party is authorized to act as an agent for the other for any purposes and shall not act on behalf
of the other Party or enter into any contract, warranty or representation as to any matter.

 

13.          NOTICES

 

Any notices to be given hereunder shall be sufficient
if signed by the Party giving same and either

 

		(a)	mailed certified mail return receipt requested,

 

		(b)	made by overnight delivery, or

 

    	12

    	 

    

 

		(c)	faxed to other Party if the sender has evidence of successful transmission and if the sender promptly sends the original by
ordinary mail, in any event to the following addresses:

 

If to SANOFI US:

 

sanofi-aventis U.S. Inc.

1041 Route 202-206

Bridgewater, NJ 08807

Attention: *

Facsimile: (908)-231-2257

 

With a copy to:

 

sanofi-aventis U.S. Inc.

1041 Route 202-206

Bridgewater, NJ 08807

Attention: Head, U.S. R&D Legal

Facsimile: (908)-231-2243

 

If to ENUMERAL:

 

Arthur
Tinkelenberg

Enumeral Biomedical Corp.

1450 Broadway, 24th floor

New York, New York 10018

 

Notices mailed shall be deemed given on the
date postmarked on the envelope. Notices sent by overnight carrier shall be deemed given on the date received by such carrier,
as indicated on the shipping manifest or waybill. Notices sent by fax shall be deemed given on the date faxed.

 

14.        TERM
AND TERMINATION

 

A.           Term.
This Agreement shall be effective as of the Effective Date and shall continue in full force and effect for * from the Effective
Date unless earlier terminated in accordance with this Section 14 (“Term”).

 

B.           Termination
by ENUMERAL with Cause. If SANOFI US fails to meet any of its obligations under this Agreement and shall fail to remedy these
failures within thirty (30) calendar days after receipt of written notice thereof, ENUMERAL shall have the option of terminating
this Agreement upon written notice thereof.

 

    	13

    	 

    

 

C.           Termination
by SANOFI US with Cause. In the event ENUMERAL fails to meet any of its obligations under this Agreement and shall fail to
remedy these failures within thirty (30) calendar days after receipt of written notice thereof, SANOFI US shall have the option
of terminating this Agreement upon written notice thereof. SANOFI US shall retain all rights as provided in Section 6 subject to
the conditions therein.

 

D.           Termination
by SANOFI US without Cause. SANOFI US shall have the right to terminate this Agreement with no further funding obligations
by providing ENUMERAL with at least thirty (30) days prior written notice; provided, however, that ENUMERAL shall be entitled to
any and all payments due and owed to ENUMERAL in the performance of the Research prior to the date of the termination of the Agreement,
or, if applicable, ENUMERAL shall refund any excess payments.

 

15.          ENTIRE
AGREEMENT; MODIFICATION

 

This Agreement, including
any exhibits attached hereto, constitutes the entire understanding and agreement between the Parties with respect to the subject
matter covered herein and supersedes any and all prior agreements, understandings, covenants, promises, warranties and representations,
oral or written, express or implied, between the Parties that relates to the subject matter hereof. This Agreement may not be amended
or supplemented in any way except in writing, dated and signed by authorized representatives of both Parties.

 

16.          INSURANCE

 

A.           Coverage.
Each Party shall, at its own expense, provide and keep in full force and effect during the Term and for a period of two (2) years
following the date of termination the following kinds and minimum amounts of insurance, or self-insurance, as allowed by law:

 

i.            Workers'
compensation insurance as required by the laws of the jurisdiction in which the Research is performed, and employer's liability
insurance with limits of at least $1,000,000 per occurrence.

 

ii.         Commercial
general liability insurance which shall include bodily injury, property damage, independent contractor coverage, completed operations
or products coverage, blanket contractual, and broad-form property damage with limits of at least $2,000,000 per occurrence.

 

iii.         Commercial
automobile liability insurance with limits of at least $1,000,000 per occurrence.

 

B.           Evidence
of Coverage. Upon request of either Party, the other Party shall provide copies of certificates of insurance, evidencing the
coverage required hereunder.

 

    	14

    	 

    

  

17.         SURVIVORSHIP

 

The provisions of Articles 4A, 5, 6, 7, 9, 10,
11, 13, 16, 18, 19, 20 and 21 shall survive any expiration or termination of this Agreement.

 

18.         GOVERNING
LAW

 

This Agreement shall be governed by the laws
of the State of New Jersey without regard to its conflict of laws provisions.

 

19.         SEVERABILITY;
WAIVER

 

The invalidity or unenforceability
of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. Any
delay or waiver by a Party to declare a breach or seek any remedy available to it under this Agreement or by law will not constitute
a waiver as to any past or future breaches or remedies.

 

20.         ASSIGNMENT

 

ENUMERAL may not assign or transfer this Agreement
or any part hereof without the express written consent of SANOFI US. SANOFI US may assign its rights and obligations under this
Agreement without the consent of ENUMERAL.

 

21.         EXCUSABLE
DELAYS

 

Neither Party will be responsible for any failure
or delay in performance of this Agreement if the failure or delay is due to an event beyond the reasonable control and without
the fault or negligence of the Party seeking to excuse performance, including without limitation, acts of God, acts of terrorism,
war, labor disputes and strikes, fire, flood, riot, unforeseen delays in third party provided transportation or communications
(a "Force Majeure Event"). Any Party seeking to excuse or delay performance due to a Force Majeure Event under this Section
21 will provide detailed written notice to the other Party of the nature and anticipated duration of the delay. A Party claiming
the benefit of a Force Majeure Event shall use reasonable efforts to avoid or overcome the causes affecting performance and diligently
fulfill all outstanding obligations within thirty (30) days. In the event that any such Force Majeure Event continues for in excess
of sixty (60) days, either Party shall have the right to terminate this Agreement upon thirty (30) days notice to the other Party,
provided that, if the Force Majeure Event ceases within such thirty (30) day period, this Agreement shall remain in full force
and effect upon prior written notice to the other Party.

 

    	15

    	 

    

 

21.         AFFILIATES

 

SANOFI US provides services to its Affiliate,
sanofi-aventis U.S. LLC, and sanofi-aventis U.S. LLC shall be permitted to use the services, goods or other deliverables provided
hereunder to the same extent as SANOFI US.

 

22.         COUNTERPARTS

 

This Agreement may be executed in two (2) counterparts,
each of which shall be deemed an original and both of which together shall be deemed the same agreement. The Parties agree that
executed PDF’s shall be deemed originals for all purposes.

 

IN WITNESS WHEREOF,
each Party has caused this Research Agreement to be duly executed by an authorized representative as of the Effective Date.

 

	Enumeral Biomedical	 	SANOFI US U.S. INC.
	CorP.	 	 
	 	 	 	 	 
	BY:	/s/ Arthur Tinkelenberg	 	BY:	/s/ Melvyn Hollis
	 	 	 	 	 
	NAME:  	ARTHUR TINKELENBERG	 	NAME:  	Melvyn Hollis
	 	 	 	 	 
	TITLE: 	PRESIDENT AND CEO	 	TITLE: 	Vice President
	 	 	 	 	 
	DATE:  	June 18th 2012	 	DATE:	 June 15th 2012

 

    	16

    	 

    

 

Exhibit A

 

PROJECT PLAN

 

Comparison of monoclonal antibody screening by ENUMERAL * microengraving
technology compared to SANOFI US *

 

1. Overall Aims of the Project

The project is for Enumeral to screen * monoclonal antibodies that
meet specific and challenging * characteristic requirements, from immunized mouse B cells and plasma cells, using its * microengraving
technology, and for both Parties to compare such antibodies to * monoclonal antibodies obtained by SANOFI US in parallel using
a modified traditional ELISA screening approach. In the past, SANOFI US’s * screening only generated antibodies with lower
than required affinities and functional potencies.

 

The overall aims are:

(1) for sanofi to evaluate Enumeral’s technology for screening
for monoclonal antibodies from the results obtained from the herein defined * antibody screening project

(2) for both parties to obtain * antibody *

 

*

 

Figure 1 Sequence of *

 

	 	*
	*	       *
	*	*
	*	*

 

The sequences of * are identical across human, monkey, mouse and
rat *, the mouse and rat orthologue of *.

 

2. Materials to be provided to ENUMERAL by SANOFI US prior to
start of research

The following materials will be supplied to ENUMERAL by SANOFI US
promptly upon entering into this Agreement unless other delivery dates are stated below.

 

    	17

    	 

    

 

2.1 Materials for assay development and screening assays and
data therefrom

		o	*

-   *

 

-   *

 

		o	* Antibodies

Purified SANOFI US in-house prior-generated mouse * monoclonal
antibodies *, and commercial * antibody which bind to *, and are low potency functional blockers in functional assay. Amount: *

 

		·	*

* antibodies to facilitate assay development and relative
affinity measurements by ENUMERAL

 

Mouse cells

		o	Samples of mouse plasma cells * from * mice for development by ENUMERAL of in well cytometry assay for plasma cell identification
and of primer sets for single cell RT-PCR of mouse antibody genes.

		o	Samples of spleenocytes from * mice for development by ENUMERAL of suitable stimulation protocols for antibody secretion using
*.

 

2.2 *

SANOFI US will supply a map of * via PCR during antibody *.

 

3. Program of work

 

3.1 Project Team

To facilitate planning, decision making and progression of the project,
a joint project team will be formed with ENUMERAL and SANOFI US team members at the initiation of the project

- ENUMERAL co-ordinator for the team: to be assigned by Enumeral

- SANOFI US co-ordinator for the team: *

- Project team membership (keep to maximum of ~12 people total)

ENUMERAL – to be assigned by Enumeral and ad hoc as required

SANOFI US – * and ad hoc as required

- Frequency of meeting: monthly for duration of project, and ad
hoc as required

- Mode: about ~2hr meeting by teleconference, and face-to-face twice

- Jointly agreed agenda, progress and plans, and minutes/ action
items

- Decision making: jointly for activities contained in Project Plan

- Significant deviations from Project Plan to be jointly agreed
upon in writing

- If needed, decision resolution mechanism: jointly by Art Tinkelenberg
and *

 

    	18

    	 

    

 

3.2 Provision to ENUMERAL by SANOFI US of hybridoma, B-Cells,
and plasma cells to be screened by ENUMERAL

SANOFI US will provide ENUMERAL with test samples of cells for
assay development by ENUMERAL, (as defined in section 2.1) in addition to providing cell samples from * mice as specified below.

 

*

 

3.3 ENUMERAL Assay Development

ENUMERAL will develop a * screening assay on its microengraved *
array platform using SANOFI US provided materials and other materials as appropriate, and use the screening array with the goal
of identifying *.

 

Cells will be screened by ENUMERAL using a * method consisting of
the following steps:

1.     *

2.     *

3.     *

4.     *

5.     *

 

When the above assays are established, ENUMERAL will conduct assays
to demonstrate selectivity and affinity ranking results of the sanofi * antibodies *

 

Reagents required that will be supplied by ENUMERAL

		·	*

		·	*

		·	*

		·	Stains for in-well cytometry

		o	*

		o	*

		o	*

		o	*

		·	Poly L slides

		·	Microwell devices

		·	Media for hybridomas

		·	Equipment and reagents for processing of devices and slides for generation of cytometry data and printed arrays

 

3.4 Screening Tree Development

On completion of assay development ENUMERAL will propose a flow
diagram for the screening (a “screening tree”) using the assays established, and share representative assay data (sensitivity,
throughput, robustness), with the Project Team for joint approval prior to starting screening of the SANOFI US-supplied cell samples.

 

    	19

    	 

    

 

3.5 Cell screening by ENUMERAL

The total number of cells/devices (single cell arrays) screened
by ENUMERAL will be data driven and will be determined by ENUMERAL.

Factors that will determine this number will include:

		·	The number of cells available (for the plasma cell sample screening)

		·	Target coverage, specificity and affinity

 

The maximum number of devices that will be run by ENUMERAL for the
antibody screening is estimated to be * (not including devices used in the assay development).

 

ENUMERAL will attempt to screen all three cell types for each mouse
(spleenocytes, lymph nodes, bone marrow) as outlined below given that SANOFI US supplies sufficient of all three cell types for
each mouse.

 

		·	Spleenocytes B cells: *

		·	Lymph node cells: *

		·	Bone marrow plasma cells: *

Grand total = *

 

3.6 ENUMERAL selection criteria for antibody *

Enumeral will select hits on the basis of antibody performance in
the assays developed by ENUMERAL, as outlined in Section 3.3. Cells * antibodies with * will be retrieved. ENUMERAL will select
and score hits on the basis of *.

 

Minimum and maximum numbers of cells retrieved will depend on “hit”
rate.

If hit rate allows the minimum number of cells picked for * will
be * for each arm B cells, plasma cells, lymph nodes; a total of *.

 

ENUMERAL will amplify heavy and light chain genes using RT-PCR from
expressed antibody gene transcripts, followed by traditional PCR to achieve production of sufficient quantities of DNAs encoding
the heavy and light chains, respectively, for sequencing and to facilitate downstream molecular cloning *. ENUMERAL will use a
third party contractor to perform sequencing to obtain the nucleotide and amino acid sequences of the heavy and light chains. The
traditional PCR-amplified heavy and light chain DNAs will be supplied by *

 

Reagents required (supplied by ENUMERAL):

		·	Microcapillaries for cell retrieval

		·	96-well PCR plates

		·	Superscript RT-PCR kit

		·	*

		·	*

		·	Primers for *

		·	* costs per antibody

 

    	20

    	 

    

 

3.7 * screening by SANOFI US

SANOFI US will screen the SANOFI US * samples using its established
standard * screening platform using its established ELISA *, SANOFI US’s * affinity ranking and * antibody in-depth kinetics
assays, and functional screening assay * class and subclass will be determined by SANOFI US for those antibodies meeting ELISA
and * requirements, using a dip stick assay. * will be determined by SANOFI US depending on hit rate, if hit rate allows for a
minimum of * antibodies obtained in this screening by SANOFI US that meet selectivity and affinity requirements with priority given
to higher affinity antibodies but SANOFI US will also include some lower affinity antibodies.

 

3.8 Algorithmic characterization of * of SANOFI US

The sequences of the * that are provided to SANOFI US by ENUMERAL
will be subject to algorithmic characterization by SANOFI US as follows:

Antibody * will be analyzed by software programs to achieve CDR
predictions, variable region and framework diversity assessment, assessment of sequences for problem residues/regions for humanization/manufacture.

If hit rate allows, the above bioinformatics analysis will be used
in discussion with ENUMERAL, to select the antibody * provided by ENUMERAL that will be transiently produced by SANOFI US, if hit
rate is below the maximum number of * antibodies that SANOFI US will produce by transient transfection, then all the antibodies
will be transiently produced.

The * obtained by SANOFI US from its in-house * screening will be
subjected to the same algorithmic characterization, and if hit rate is sufficient will be used in selection for characterization.

 

3.9 Transient production by SANOFI US

SANOFI US will insert the * supplied by ENUMERAL into proprietary
SANOFI US expression plasmids. Transient transfection will be performed with the SANOFI US expression plasmids (* plasmid pairs),
maximum * antibodies, and SANOFI US will attempt to purify about * of each antibody *.

 

3.10 Purified * antibody characterization by SANOFI US

For

(a) the ENUMERAL antibody * transiently expressed and purified by
SANOFI US, where * is purified and is satisfactory on SDS-Page, if hit rate allows, * will be characterized as follows by SANOFI-US:

 

(b) the SANOFI-US * antibodies will be characterized as follows
by SANOFI-US:

 

1.     ELISA
binding assays using *

 

    	21

    	 

    

 

2.     ELISA
competition assays using * – only on antibodies that met required ELISA binding specificity as specified in 4.1.A.

 

3.     *

 

4.     *

 

5.     *

 

4. Required and desirable antibody characteristics

 

4.1 Required characteristics

A) ELISA

*

 

- Key antibody characteristics required include *

 

- ELISA competition assay: *

 

B) Selectivity and Affinity

*

 

C) Biological activity and functional assay: * monoclonal antibody
*.

 

4.2 Desirable but not required antibody characteristics:

A) *

 

B) *

 

C) *

 

5. Estimated Project Timelines and Timeline Resource Tracking

 

5.1 Estimated timelines

ENUMERAL estimated timelines are:

- Assay development by ENUMERAL *

- Cell screening and antibody *

 

SANOFI US estimated timelines are:

- *

- *

- *

 

    	22

    	 

    

 

ENUMERAL and SANOFI US estimated timelines are:

Final reports and data exchange: * from the Effective Date of this
Agreement.

 

5.2 Tracking of Timelines and Resources:

ENUMERAL will track its timelines and resources used in its components
of the project and provide in the project report. FTE resources will be in FTE man days (using SANOFI US standard)

SANOFI US will track its timelines and resources used in its components
of the project and provide in the project report. FTE resources will be in FTE man days.

 

6. Project Success Criteria and Final Reports

 

6.1 Project Success Criteria

The key project success criteria are:

A) ENUMERAL method for screening spleenocyte and lymph node B
cells *

- output: *

- comparable resource requirement between ENUMERAL’s and SANOFI
US’s hybridoma screening.

 

B) ENUMERAL’s method for screening bone marrow plasma cells
*

-output: *

 

6.2 Final Reports

ENUMERAL will provide SANOFI-US at the end of the project with a
in-depth project report of its project activities, including overview descriptions of workflows and methods, inputs and outputs,
antibody *, timelines and resources, data summaries, and provide representative data sets. The detailed content of the ENUMERAL
report and representative data sets will be mutually agreed by the Project Team.

 

The Project team will work together to provide a final project report
combining and comparing ENUMERAL and SANOFI-US data, and conclusions on the Project.

 

In order to enable the Project team to produce the final Project
team report, ENUMERAL and SANOFI-US will provide, the project team, in a timely fashion with the necessary information on their
respective project activities, including overview descriptions of workflows and methods, inputs and outputs, antibody *, timelines
and resources, data summaries. The details and timing of providing this information will be mutually agreed by the Project Team.

 

    	23

    	 

    

 

Exhibit B

 

Budget

 

Fees shall be invoiced by ENUMERAL in accordance with
the schedule below:

 

(a) * shall be invoiced upon execution of this Agreement.

 

(b) Upon delivery and acceptance of the final report, the
remaining * may be invoiced.

 

    	24THIS WARRANT AND ANY SECURITIES ACQUIRED
UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT
TO THE SECURITIES EVIDENCED BY THIS CERTIFICATE, FILED AND MADE EFFECTIVE UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND SUCH
APPLICABLE STATE SECURITIES LAWS, OR UNLESS SOLD PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS PROVIDED THAT THE
COMPANY RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH ACT AND SUCH APPLICABLE
STATE SECURITIES LAWS IS NOT REQUIRED.

 

	Warrant Certificate No. 2014-11	Dated: April 15, 2014

 

WARRANT

 

ENUMERAL BIOMEDICAL CORP.

 

Expiring: April 15, 2019

 

THIS IS TO CERTIFY THAT, for value received,
John J. Rydzewski (the “Holder”), is entitled, subject to certain conditions set forth in Sections 1.01 and 1.02 hereof,
to purchase from Enumeral Biomedical Corp., a Delaware corporation (the “Company”), at the Company’s principal
executive office, at a price per share of $2.125 (the “Exercise Price”), up to 47,058 shares (the “Warrant Shares”)
of the Company’s Series B Preferred Stock, $0.0001 par value per share (“Series B Preferred Stock”), all subject
to vesting, adjustment and upon the terms and conditions as hereinafter provided, and is entitled also to exercise the other appurtenant
rights, powers and privileges hereinafter described.

 

Certain terms used in this Warrant are defined
in Article IV hereof.

 

ARTICLE
I.

 

METHOD OF EXERCISE

 

Section
1.01         Vesting; Time of Exercise.

 

(a)          This
Warrant shall vest over six months, commencing on the date hereof, in semi-monthly increments on the fifteenth and last day of
each calendar month (each a “Vesting Date”), with the first 1/12th of the total number of Warrant Shares
being vested on April 30, 2014, and thereafter 1/12th on each Vesting Date until fully vested with any unvested Warrant
Shares being vested on the last Vesting Date; provided that the vesting of the Warrant Shares shall be accelerated
and be fully vesting upon the earlier to occur of the following: (i) the Company obtaining at least $2 million upon the consummation
of a financing (or series of financings) involving the sale of equity securities, issuance of debt securities, whether convertible
into equity of the Company or not, or another financing transaction such as a sale lease back, that generates $2 million in cash
for the Company; or (ii) payments in connection with a corporate collaboration, joint venture, licensing arrangement or other partnering
arrangement of at least $2 million in either an equity investment or convertible debt, or a milestone or other fees or payments
thereunder. The Holder may exercise all or any part of Warrant but only to the extent that the underlying Warrant Shares had vested
before the Holder’s employment terminated (or vested as a result of the termination). The unvested balance of such Warrant,
if any, shall lapse when the Holder’s employment with the Company terminates. To the extent that the Holder’s employment
agreement with the Company, as may be amended, provides any additional terms which govern the vesting, acceleration and exercise
of this Warrant, such terms shall be incorporated herein by reference.

 

    	1

    	 

    

 

(b)          Subject
to the provisions of Section 1.02 and 1.03 hereof, this Warrant to the extent that it is vested as set forth in this Section 1.01
may be exercised in whole or in part at any time and from time to time prior to the Expiration Time.

 

Section
1.02         Method of Exercise.

 

		(a)	To exercise this Warrant in whole or in part, the Holder shall deliver to the Company’s principal executive office (i)
this Warrant, (ii) a written notice of such Holder’s election to exercise this Warrant in the form attached hereto as Exhibit
A and (iii) payment of an amount equal to the Exercise Price multiplied by the total number of Warrant Shares for which this Warrant
is then being exercised. Such payment may be made, at the option of the Holder, in cash, by certified or bank cashier’s check,
money order or wire transfer, or any combination thereof, or in any other manner consented to in writing by the Company.

 

		(b)	In lieu of cash exercising this Warrant in accordance with (a) above, at any time from and after a Deemed Liquidation Event
(as defined in the Company Certificate), the Holder may elect to receive shares equal to the value of this Warrant (or the portion
thereof being canceled) by surrender of this Warrant to the Company together with notice of such election, in which event the Company
shall issue to the Holder hereof a number of Shares computed using the following formula:

 

	 	Y (A-B)	 
	X=	A	 
	 	 	 

Where:

 

X equals the number of Warrant Shares to be issued to the
Holder;

 

Y equals the number of Warrant Shares purchasable under
the Warrant, or, if only a portion of the Warrant is being exercised, the portion of the Warrant being exercised at the date of
such calculation;

 

    	2

    	 

    

 

A equals the Fair Market Value of one Warrant Share (at
the date of such calculation); and

 

B equals the Exercise Price (as adjusted to the date of
such calculations).

 

		(c)	The Company shall, as promptly as practicable after receipt of the items required by this Section 1.02, execute and deliver
or cause to be executed and delivered, in accordance with such notice, a certificate or certificates representing the Warrant Shares
specified in such notice. The share certificate or certificates so delivered shall be in such denominations as shall be specified
in such notice and shall be issued in the name of the Holder or, provided, in an opinion of counsel reasonably acceptable to the
Company, the following is permitted under the Act and applicable state securities law, such other name as shall be designated in
such notice. Such certificate or certificates shall be deemed to have been issued, and such Holder or Holders or any other person
so designated to be named therein shall be deemed for all purposes to have become a Holder of record of such shares as of the date
the aforementioned notice is received by the Company. If this Warrant shall have been exercised only in part, the Company shall,
at the time of delivery of the certificate or certificates, deliver to the Holder a new Warrant evidencing the right to purchase
the remaining Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical to this Warrant,
or, at the request of the Holder, appropriate notations may be made on this Warrant which shall then be returned to the Holder.
The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issuance and delivery of
share certificates and new Warrants, except that, if share certificates or new Warrants shall be registered in a name or names
other than the name of the Holder, funds sufficient to pay all transfer taxes, if any, payable as a result of such transfer shall
be paid by the Holder at the time of delivering the aforementioned notice of exercise or promptly upon receipt of a written request
of the Company for payment.

 

Section
1.03         Shares to be Fully Paid and Nonassessable. All shares of
Series B Preferred Stock issued upon exercise of the Warrant shall be validly issued, fully paid and nonassessable.

 

Section
1.04         No Fractional Shares to be Issued. The Company shall not
be required to issue fractions of Warrant Shares upon exercise of this Warrant. If any fractions of a share would, but for this
Section, be issuable upon any exercise of this Warrant, in lieu of such fractional share the Company shall pay to the Holder, in
cash, an amount equal to the same fraction of the fair market value of one share of Series B Preferred Stock.

 

Section
1.05         Share Legend. Each certificate for Warrant Shares issued
upon exercise of this Warrant, unless at the time of exercise such shares are registered under the Act, shall bear a legend substantially
as follows or similar legend as determined in good faith by the Company’s Board of Directors:

 

    	3

    	 

    

 

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY
NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT TO THE SECURITIES
EVIDENCED BY THIS CERTIFICATE, FILED AND MADE EFFECTIVE UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND SUCH APPLICABLE STATE
SECURITIES LAWS, OR UNLESS SOLD PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS PROVIDED THAT THE COMPANY RECEIVES
AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER SUCH ACT AND SUCH APPLICABLE STATE SECURITIES
LAWS IS NOT REQUIRED.

 

Any certificate issued at any time in exchange
or substitution for any certificate bearing such legend (except a new certificate issued upon completion of a public distribution
pursuant to a registration statement under the Act) shall also bear such legend unless, in the opinion of counsel reasonably acceptable
to the Company, the securities represented thereby no longer need to be subject to restrictions on resale under the Act.

 

Section
1.06         Reservation of Stock. The Company agrees during the term
the rights under this Warrant are exercisable to reserve and keep available from its authorized and unissued shares of Series B
Preferred Stock for the purpose of effecting the exercise of this Warrant such number of shares of Series B Preferred Stock (and
shares of the Company’s Common Stock for issuance upon conversion of such Warrant Shares) as shall from time to time be sufficient
to effect the exercise of the rights under this Warrant.

 

Section
1.07         Transfers. Neither this Warrant nor any rights hereunder
may be assigned, conveyed or transferred, in whole or in part, without the Company’s prior written consent, which the Company
may withhold in its sole discretion; provided, however, that this Warrant: (a) may be pledged without the prior written
consent of the Company to any lender to the Holder as part of a bona fide secured loan or credit facility (and, following a default
thereunder, this Warrant may be transferred to such lender without the Company’s consent), and (b) may be assigned, conveyed
or transferred without the prior written consent of the Company to any Affiliate of the Holder; provided, further, that
Holder surrenders this Warrant properly endorsed or accompanied by written instructions of transfer in the form attached hereto
as Exhibit B, and any such permitted transferee executes an acknowledgement that such transferee is subject to all the terms
and conditions of this Warrant and satisfies the Company as to compliance with state and federal securities law. 

 

    	4

    	 

    

 

ARTICLE
II.

WARRANT ADJUSTMENTS

 

Section
2.01         Merger. If at any time there shall be a merger, acquisition
or consolidation of the Company with or into another corporation, where the Company is not the surviving corporation, or a sale
of all or substantially all of the Company’s assets, then, as a part of such merger or consolidation, lawful provision shall
be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, during the period specified herein
and upon payment of the aggregate Exercise Price then in effect, the number of shares of stock or other securities, cash or other
property of the successor corporation resulting from such merger or consolidation, to which a holder of the stock deliverable upon
exercise of this Warrant would have been entitled in such merger or consolidation if this Warrant had been exercised immediately
before such merger or consolidation. In any such case, appropriate adjustment shall be made in the application of the provisions
of this Warrant with respect to the rights and interests of the Holder after the merger or consolidation.

 

Section
2.02         Reclassification, etc. If the securities issuable upon
exercise of this Warrant are changed into the same or a different number of securities of any other class or classes by reclassification,
capital reorganization, conversion of all outstanding shares of the relevant class or series or otherwise (other than as otherwise
provided for herein) (a “Reclassification”), then, in any such event, in lieu of the number of Warrant Shares which
the Holder would otherwise have been entitled to receive, the Holder shall have the right thereafter to exercise this Warrant for
a number of shares of such other class or classes of stock that a holder of the number of securities deliverable upon exercise
of this Warrant immediately before that change would have been entitled to receive in such Reclassification, all subject to further
adjustment as provided herein with respect to such other shares.

 

Section
2.03         Split, Subdivision or Combination of Shares. If the Company
at any time while this Warrant remains outstanding and unexpired shall split, subdivide or combine its Series B Preferred Stock,
the Exercise Price shall be proportionately decreased and the number of Warrant Shares purchasable hereunder shall be proportionately
increased in the case of a split, payment of a stock dividend (of shares of Series B Preferred Stock) or subdivision, or the Exercise
Price shall be proportionately increased and the number of shares of Warrant Shares purchasable hereunder shall be proportionately
decreased in the case of a combination.

 

Section
2.04         Notice of Adjustments; Notices. Whenever the Exercise Price
or number of Warrant Shares issuable upon exercise hereof shall be adjusted pursuant to Article II hereof, the Company shall issue
a written notice setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method
by which such adjustment was calculated and the Exercise Price and number of Warrant Shares purchasable hereunder after giving
effect to such adjustment, and shall cause a copy of such notice to be given in accordance with Article VI hereof.

 

    	5

    	 

    

 

ARTICLE
III.

 

REPLACEMENTS OF WARRANT CERTIFICATES

 

Section
3.01         Loss, Theft or Destruction of Warrant Certificates. Upon
receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of any Warrant and, in the case of
any such loss, theft or destruction, upon receipt of indemnity or security from the Holder satisfactory to the Company, or, in
the case of any such mutilation, upon surrender and cancellation of the Warrant, the Company will make and deliver, lieu of such
lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing the right to purchase the same aggregate
number of Warrant Shares.

 

Section
3.02         Change of Principal Executive Office. In the event the
Company shall change the address of its principal executive office, the Company shall give the Holder notice of any such change
within a reasonable time. Any correspondence from the Company to the Holder with an address printed on Company’s letterhead
shall fulfill this requirement.

 

ARTICLE
IV.

 

DEFINITIONS

 

The following terms, as used in this Warrant,
have the following respective meanings:

 

“Act” means the Securities Act of
1933, as amended, and any similar or successor federal statute, and the rules and regulations of the Securities and Exchange Commission
(or its successor) thereunder, all as the same shall be in effect at the time.

 

“Affiliate” means, with respect
to the Holder, any other person who, directly or indirectly, controls, is controlled by, or is under common control with such Holder,
including, without limitation, any general partner, managing member, officer or director of such Holder or any venture capital
fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management
company with, such Holder.

 

“Common Stock” means the Company’s
common stock, $0.0001 per share.

 

“Company” shall have the meaning
set forth in the first paragraph of this Warrant.

 

“Company Certificate” means the
Fourth Amended and Restated Certificate of Incorporation of the Company, as amended from time to time.

 

    	6

    	 

    

 

“Eastern Time” means Eastern Daylight
Time or Eastern Standard Time, whichever is in effect on the relevant date.

 

“Expiration Time” means 5:00 p.m.
Eastern Time on April 15, 2019.

 

“Fair Market Value” shall mean the
aggregate consideration payable on account of one share of Series B Preferred Stock (on an as-converted to Common Stock basis,
as applicable) as a result of a Deemed Liquidation Event (as defined in the Company Certificate) giving rise to the Holder’s
rights under Section 1.02(b).

 

“Holder” shall have the meaning
set forth in the first paragraph of this Warrant and “Holders” shall include any and all successors and assigns of
the initial Holder with respect to this Warrant.

 

“Series B Preferred Stock” shall
mean the Company’s Series B Preferred Stock, par value $0.0001 per share.

 

“Warrant” and “Warrants”
shall mean this warrant and any warrants issued upon the partial exercise of this warrant.

 

ARTICLE
V.

 

REDEMPTION AND CANCELLATION OF WARRANTS

 

Section
5.01         Redemption of Warrants. The Warrants are not redeemable
by the Company and the Company has no right to purchase or otherwise acquire the Warrants.

 

Section
5.02         Cancellation of Warrants. The Company shall cancel any
Warrant surrendered for transfer, exchange or exercise.

 

ARTICLE
VI.

 

MISCELLANEOUS

 

Section
6.01         Notices. Except with respect to notice of a change in the
Company’s principal executive office in accordance with Section 3.02 hereof, all notices, requests and other communications
provided for herein shall be in writing, and shall be deemed duly given if delivered personally or mailed by registered or certified
mail (return receipt requested) or via overnight courier to the parties at the following addresses (or at such other address for
such party as shall be specified by written notice):

 

	(a)	If to the Company:	Enumeral Technologies, Inc.	 
	 	 	1450 Broadway, 24th Floor	 
	 	 	New York, NY 10018	 
	 	 	Attn: President	 

 

    	7

    	 

    

 

	 	with a copy to:	Duane Morris LLP	 
	 	 	100 High Street, 24th Floor	 
	 	 	Boston, MA 02110	 
	 	 	Attn: Jonathan Lourie, Esq.	 
	 	 	Telephone: 857-488-4260	 
	 	 	Facsimile:  857-401-3089	 
	 	 	 	 
	(b)	If to the Holder:	John J. Rydzewski	 
	 	 	One West 72nd Street	 
	 	 	Apartment 30	 
	 	 	New York, NY  10023	 

 

Section
6.02         Waivers; Amendments. No failure or delay of the Holder
in exercising any right, power or privilege, hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
thereof, or any abandonment or discontinuance of steps to enforce such a right, power or privilege, preclude any other or further
exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the Holder are cumulative and
not exclusive of any rights or remedies which it would otherwise have. The provisions of this Warrant may be amended, modified
or waived if, but only if, such amendment, modification or waiver is in writing and is signed by the Holder.

 

Section
6.03         Governing Law. This Warrant shall be construed in accordance
with and governed by the laws of the State of Delaware, without regard to the conflict of laws rules thereof to the extent that
the application of the law of another jurisdiction would be required thereby.

 

Section
6.04         Survival of Agreements; Representations and Warranties, etc.
All warranties, representations and covenants made by the Company herein or in any certificate or other instrument delivered by
or on behalf of it in connection herewith shall be considered to have been relied upon by the Holder and shall survive the issuance
and delivery of the Warrants and shall continue in full force and effect so long as this Warrant is outstanding. All statements
in any such certificate or other instrument shall constitute representations and warranties hereunder.

 

Section
6.05         Covenants to Bind Successors and Assigns. All the covenants,
stipulations, promises and agreements in this Warrant contained by or on behalf of the Company shall bind its successors and assigns,
whether or not so expressed.

 

Section
6.06         Severability. In case any one or more of the provisions
contained in this Warrant shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability
of the remaining provisions contained herein and therein shall not in any way be affected or impaired in such jurisdiction and
shall not invalidate or render illegal or unenforceable such provision in any other jurisdiction.

 

    	8

    	 

    

 

Section
6.07         Headings. The headings used herein are for convenience
of reference only and shall not be deemed to be a part of this Warrant.

 

Section
6.08         No Rights as Stockholder. This Warrant shall not entitle
the Holder to any rights as a stockholder of the Company.

 

Section
6.09         No Impairment. The Company shall not, by amendment of the
Company Certificate or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed
under this Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant
and in taking all such action as may be necessary or appropriate to protect the Holder’s rights under this Warrant against
impairment.

 

Section 6.10         Pronouns.
The pronouns “it” and “its” herein shall be deemed to mean “he” and “his” or “she”
and “hers,” as the context requires.

 

[The remainder of this page intentionally left
blank – signature page follows]

 

    	9

    	 

    

 

IN WITNESS WHEREOF, Enumeral Biomedical Corp.
has caused this Warrant to be executed in its corporate name by one of its officers thereunto duly authorized as of the day and
year first above written.

 

	 	ENUMERAL BIOMEDICAL CORP.
	 	 	 
	 	By:	/s/ Arthur Tinkelenberg
	 	 	Name:	Arthur Tinkelenberg
	 	 	Title:	President

 

    	10

    	 

    

 

EXHIBIT
A

 

FORM
OF NOTICE OF EXERCISE

 

[To be signed only upon exercise of the Warrant]

 

		TO:	Enumeral Biomedical Corp.

 

1.          The
undersigned hereby elects to purchase __________ shares of _____________ pursuant to the terms of the attached Warrant.

 

2.          Method
of Exercise (Please initial the applicable blank):

 

		___	The undersigned elects to exercise the attached Warrant by means of a cash payment, and tenders
herewith payment in full for the purchase price of the shares being purchased, together with all applicable transfer taxes, if
any.

 

		___	The undersigned elects to exercise the attached Warrant by means of the net exercise provisions
of Section 1.02(b) of the Warrant.

 

3.          Please
issue a certificate or certificates representing said Shares in the name of the undersigned or in such other name as is specified
below:

 

	 	 	 
	 	(Name)	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	(Address)	 

 

4.          The
undersigned hereby represents and warrants that the aforesaid Shares are being acquired for the account of the undersigned for
investment and not with a view to, or for resale, in connection with the distribution thereof, and that the undersigned has no
present intention of distributing or reselling such shares.

 

	 	 	 	 
	 	 	(Signature)	 
	 	 	 	 
	 	 	 	 
	 	 	(Name)	 
	 	 	 	 
	 	 	 	 
	(Date)	 	(Title)	 

 

    	 

    	 

    

 

EXHIBIT B

 

FORM OF TRANSFER

(To be signed only upon transfer of Warrant)

 

FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto _______________________________________________ the right represented by the
attached Warrant to purchase ____________ shares of Series B Preferred Stock of Enumeral Biomedical Corp. to which the attached
Warrant relates, and appoints ______________ Attorney to transfer such right on the books of __________, with full power of substitution
in the premises.

 

	Dated: 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	(Signature must conform in all respects to name of Holder as specified on the face of the Warrant)
	 	 	 	 	 	 
	 	 	 	 	Address:	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed in the presence of:

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