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Exhibit 10.14
CORCEPT THERAPEUTICS INCORPORATED
2012 INCENTIVE AWARD PLAN
STOCK OPTION GRANT NOTICE
Corcept Therapeutics Incorporated, a Delaware corporation, (the “Company”), pursuant to its 2012 Incentive Award Plan, as it may be amended from time to time (the “Plan”), hereby grants to the holder listed below (“Participant”), an option to purchase the number of shares of the Company’s common stock, par value $0.001 (“Stock”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein, as well as in the Plan, the Stock Option Agreement attached hereto as Exhibit A (the “Stock Option Agreement”), and the Special Provisions for Stock Options Granted to Participants Outside the U.S. (as applicable) attached hereto as Exhibit B (the “Non-U.S. Provisions”), each of which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice, the Stock Option Agreement and the Non-U.S. Provisions.
						
	Participant:
	   [ ]

		
	Grant Date:
	   [ ]

		
	Vesting Start Date:
	   [ ]

		
	Exercise Price per Share:
	$ [ ]

		
	Total Number of Shares Subject to the Option:
	   [ ] shares

		
	Expiration Date:
	   [ ]

		
	Vesting Schedule:
	   [To be specified in individual agreements]

	
	Type of Option:
	   [ ] Incentive Stock Option     [ ] Nonstatutory Stock Option

By his or her signature and the Company’s signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Stock Option Agreement, the Non-U.S. Provisions and this Grant Notice. Participant has reviewed the Stock Option Agreement, the Plan, the Non-U.S. Provisions and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Stock Option Agreement, the Non-U.S. Provisions and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice, the Non-U.S. Provisions or the Stock Option Agreement.
												
	CORCEPT THERAPEUTICS INCORPORATED:
	PARTICIPANT:

				
	By:
		By:
	
	Print Name:
		Print Name:
	
	Title:
			
	Address:
		Address:
	
				

EXHIBIT A
TO STOCK OPTION GRANT NOTICE
CORCEPT THERAPEUTICS INCORPORATED STOCK OPTION AGREEMENT
Pursuant to the Stock Option Grant Notice (the “Grant Notice”) to which this Stock Option Agreement (this “Agreement”) is attached, Corcept Therapeutics Incorporated, a Delaware corporation (the “Company”), has granted to Participant an Option under the Company’s 2012 Incentive Award Plan, as it may be amended from time to time (the “Plan”), to purchase the number of shares of Stock indicated in the Grant Notice.
ARTICLE 1.
GENERAL
1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.
1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.
ARTICLE 2.
GRANT OF OPTION
2.1 Grant of Option. In consideration of Participant’s past and/or continued employment with or service to the Company or a Subsidiary and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company grants to Participant the Option to purchase any part or all of an aggregate of the number of shares of Stock set forth in the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement, subject to adjustments as provided in Section 13.2 of the Plan. Unless designated as a Nonstatutory Stock Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent permitted by law.
2.2 Exercise Price. The exercise price per share of Stock subject to the Option shall be as set forth in the Grant Notice, without commission or other charge; provided, however, that the exercise price per share of the Stock subject to the Option shall not be less than 100% of the Fair Market Value of a share of Stock on the Grant Date. Notwithstanding the foregoing, if this Option is designated as an Incentive Stock Option and Participant owns (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company (each within the meaning of Section 424 of the Code), the price per share of the shares of Stock subject to the Option shall not be less than 110% of the Fair Market Value of a share of Stock on the Grant Date.
2.3 Consideration to the Company. In consideration of the grant of the Option by the Company, Participant agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon Participant any right to continue in the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant.
ARTICLE 3.
PERIOD OF EXERCISABILITY
3.1 Commencement of Exercisability.
(a) Subject to Sections 3.2, 3.3, 5.10 and 5.16 hereof, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the Grant Notice. In the event of a change in Participant’s employment status wherein there is a reduction in the number of his or her hours per week, the Administrator may amend the vesting schedule of the Option, including but not limited to reducing the shares to be vested on each following vesting date, without the consent of Participant, in the Administrator’s sole discretion.
(b) No portion of the Option which has not become vested and exercisable at the date of Participant’s Termination of Service shall thereafter become vested and exercisable, except as may be otherwise provided by the Administrator or as set forth in a written agreement between the Company and Participant.

(c) Notwithstanding Sections 3.1(a) hereof and the Grant Notice, but subject to Section 3.1(b) hereof, pursuant to Section 13.2 of the Plan, the Option shall become fully vested and exercisable with respect to all shares of Stock covered thereby in the event of a Change in Control, in connection with which the successor corporation does not assume the Option or substitute an equivalent right for the Option. Should the successor corporation assume the Option or substitute an equivalent right, then no such acceleration shall apply. [In the event the Option is assumed or substituted for an equivalent right, and the surviving or successor corporation terminates Participant’s employment or service without Cause upon or within 12 months of a Change in Control, then the Participant shall be fully vested and exercisable in the assumed or substituted Option.]1
1 The bracketed sentence should be used for general employees. If Participant is a consultant, delete the bracketed sentence and replace with the following: “For the avoidance of doubt, in the event the Option is assumed or substituted for an equivalent right, and the surviving or successor corporation terminates Participant’s service without Cause, no acceleration shall apply to the Option”. If Participant is an officer, delete the bracketed sentence and replace with the following: “In the event the Option is assumed or substituted for an equivalent right, and (i) the surviving or successor corporation terminates Participant’s employment or service without Cause or (ii) Participant resigns for Good Reason (as defined below) upon or within 18 months of a Change in Control, then Participant shall be fully vested and exercisable in the assumed or substituted Option. For purposes of this Agreement, “Good Reason” shall mean any of the following events which Participant provides written notice to the surviving or successor corporation of within ninety (90) days of such event having occurred and which is not cured by the surviving or successor corporation within thirty (30) days after such written notice thereof is provided to the surviving or successor corporation by Participant: (i) any reduction of Participant’s base salary or target annual bonus; (ii) any involuntary relocation of Participant’s principal workplace to a location more than thirty five (35) miles in any direction from Participant’s current principal workplace, (iii) a substantial and material adverse change, without Participant’s written consent, in Participant’s title, authority, responsibility or duties; or (iv) any material breach by the surviving or successor corporation of any provision of this Agreement or any other agreement between the surviving or successor corporation and Participant, after written notice delivered to the surviving or successor corporation of such breach and the surviving or successor corporation’s failure to cure such breach; provided, however, Participant shall not have Good Reason to resign if Participant would retain substantially similar title, authority, duties, base pay and bonus but might have greater or lesser reporting responsibilities. In order to constitute a termination of employment for Good Reason, Participant’s employment must be terminated no later than one hundred eighty (180) days following the initial occurrence of any events set forth above.”
(d) Notwithstanding any provisions in this Agreement or the Plan to the contrary, if there is a conflict between Section 3.1(c) hereof and a written agreement by and between Participant and the Company that contains a provision providing for the acceleration of the vesting of Participant’s stock options in the event of a “change in control” or other similar term or a termination of employment or service within a certain period of time following a “change in control,” then such provision in the written agreement shall control only with regard to the treatment of Participant’s stock options in the event of a “change in control” or a termination of employment or service within a certain period of time following a “change in control.”
3.2 Duration of Exercisability. The installments provided for in the vesting schedule set forth in the Grant Notice are cumulative. Each such installment which becomes vested and exercisable pursuant to the vesting schedule set forth in the Grant Notice shall remain vested and exercisable until it becomes unexercisable under Section 3.3 hereof.
3.3 Expiration of Option. The Option may not be exercised to any extent by anyone after the first to occur of the following events:    
(a) The Expiration Date set forth in the Grant Notice, which shall in no event be more than ten (10) years from the Grant Date;
(b) If this Option is designated as an Incentive Stock Option and Participant owned (within the meaning of Section 424(d) of the Code), at the time the Option was granted, more than 10% of the total combined voting power of all classes of stock of the Company or any “subsidiary corporation” of the Company or any “parent corporation” of the Company (each within the meaning of Section 424 of the Code), the expiration of five (5) years from the Grant Date;
(c) The expiration of three (3) months from the date of Participant’s Termination of Service, unless such termination occurs by reason of Participant’s death or disability or as provided in Section 3.3(e) below; or
(d) The expiration of one (1) year from the date of Participant’s Termination of Service by reason of Participant’s death or disability or as provided in Section 3.3(e) below.
(e) The expiration of three (3) years from the date of Participant’s Termination of Service in the event Participant is either (i) fifty-five (55) years old or older and has five (5) years or more of service with the Company upon voluntary termination of service (e.g., retirement) or (ii) is involuntarily terminated and has five (5) years or more of service with the Company upon Termination of Service, regardless of age.
3.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all shares of Stock with respect to which Incentive Stock Options, including the Option (if applicable), are exercisable for the first time by Participant in any calendar year exceeds $100,000, the Option 

and such other options shall be Nonstatutory Stock Options to the extent necessary to comply with the limitations imposed by Section 422(d) of the Code. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking the Option and other “incentive stock options” into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder. Participant also acknowledges that an Incentive Stock Option exercised more than three (3) months after Participant’s termination of employment, other than by reason of death or disability, will be taxed as a Nonstatutory Stock Option.
3.5 Tax Indemnity.
(a) The Participant agrees to indemnify and keep indemnified the Company, any Subsidiary and his/her employing company, if different, from and against any liability for or obligation to pay any Tax Liability (a “Tax Liability” being any liability for income tax, withholding tax and any other employment related taxes or social security contributions in any jurisdiction, including, if applicable, employee’s and employer’s National Insurance contributions) that is attributable to (1) the grant or exercise of, or any benefit derived by the Participant from, the Option, (2) the acquisition by the Participant of the Stock on exercise of the Option, or (3) the disposal of any Stock.
(b) The Option cannot be exercised until the Participant has made such arrangements as the Company may require for the satisfaction of any Tax Liability that may arise in connection with the exercise of the Option and/or the acquisition of the Stock by the Participant. The Company shall not be required to issue, allot or transfer Stock until the Employee has satisfied this obligation.
ARTICLE 4.
EXERCISE OF OPTION
4.1 Person Eligible to Exercise. During the lifetime of Participant, only Participant may exercise the Option or any portion thereof. After the death of Participant, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3 hereof, be exercised by Participant’s personal representative or by any person empowered to do so under the deceased Participant’s will or under the then applicable laws of descent and distribution.
4.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3 hereof.
4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be exercised solely by delivery to the Secretary of the Company (or any third party administrator or other person or entity designated by the Company), during regular business hours, of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under Section 3.3 hereof:
(a) An exercise notice in a form specified by the Administrator, stating that the Option or portion thereof is thereby exercised, such notice complying with all applicable rules established by the Administrator;
(b) The receipt by the Company of full payment for the shares of Stock with respect to which the Option or portion thereof is exercised, including payment of any applicable withholding tax, which shall be made by deduction from other compensation payable to Participant or in such other form of consideration permitted under Section 4.4 hereof that is acceptable to the Company;
(c) Any other written representations as may be required in the Administrator’s reasonable discretion to evidence compliance with the Securities Act or any other applicable law, rule or regulation; and
(d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 hereof by any person or persons other than Participant, appropriate proof of the right of such person or persons to exercise the Option. 
Notwithstanding any of the foregoing, the Company shall have the right to specify all conditions of the manner of exercise, which conditions may vary by country and which may be subject to change from time to time.
4.4 Method of Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of Participant:
(a) Cash or check;
(b) With the consent of the Administrator, surrender of shares of Stock (including, without limitation, shares of Stock otherwise issuable upon exercise of the Option) held for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof; or

(c) Other property acceptable to the Administrator (including, without limitation, through the delivery of a notice that Participant has placed a market sell order with a broker with respect to shares of Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided that payment of such proceeds is then made to the Company at such time as may be required by the Company, but in any event not later than the settlement of such sale).
4.5 Conditions to Issuance of Stock. The shares of Stock deliverable upon the exercise of the Option, or any portion thereof, may be either previously authorized but unissued shares of Stock or issued shares of Stock which have then been reacquired by the Company. Such shares of Stock shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any shares of Stock purchased upon the exercise of the Option or portion thereof prior to fulfillment of all of the following conditions:
(a) The admission of such shares of Stock to listing on all stock exchanges on which such Stock is then listed;
(b) The completion of any registration or other qualification of such shares of Stock under any state or federal law or under rulings or regulations of the Securities and Exchange Commission or of any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem necessary or advisable;
(c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable;
(d) The receipt by the Company of full payment for such shares of Stock, including payment of any applicable withholding tax, which may be in one or more of the forms of consideration permitted under Section 4.4 hereof; and
(e) The lapse of such reasonable period of time following the exercise of the Option as the Administrator may from time to time establish for reasons of administrative convenience.
4.6 Rights as Stockholder. The holder of the Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of any shares of Stock purchasable upon the exercise of any part of the Option unless and until such shares of Stock shall have been issued by the Company and held of record by such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a dividend or other right for which the record date is prior to the date the shares of Stock are issued, except as provided in Section 13.2 of the Plan.
ARTICLE 5
OTHER PROVISIONS
5.1 Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon Participant, the Company and all other interested persons. No member of the Committee or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Option.
5.2 Whole Shares. The Option may only be exercised for whole shares of Stock.
5.3 Option Not Transferable. Subject to Section 4.1 hereof, the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution, unless and until the shares of Stock underlying the Option have been issued, and all restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.
5.4 Binding Agreement. Subject to the limitation on the transferability of the Option contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.
5.5 Adjustments Upon Specified Events. The Administrator may accelerate the vesting of the Option in such circumstances as it, in its sole discretion, may determine. In addition, upon the occurrence of certain events relating to the Stock contemplated by Section 13.2 of the Plan (including, without limitation, an extraordinary cash dividend on such Stock), the Administrator shall make such adjustments the Administrator deems appropriate in the number of shares of Stock subject to the 

Option, the exercise price of the Option and the kind of securities that may be issued upon exercise of the Option. Participant acknowledges that the Option is subject to adjustment, modification and termination in certain events as provided in this Agreement and Section 13.2 of the Plan.
5.6 Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to Participant shall be addressed to Participant at Participant’s last address reflected on the Company’s records. By a notice given pursuant to this Section 5.6, either party may hereafter designate a different address for notices to be given to that party. Any notice which is required to be given to Participant shall, if Participant is then deceased, be given to the person entitled to exercise his or her Option pursuant to Section 4.1 hereof by written notice under this Section 5.6. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.
5.7 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.
5.8 Governing Law. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.
5.9 Conformity to Securities Laws. Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.
5.10 Amendments, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board; provided that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the Option in any material way without the prior written consent of Participant.
5.11 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth in Section 5.3 hereof, this Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns.
5.12 Notification of Disposition. If this Option is designated as an Incentive Stock Option, Participant shall give prompt notice to the Company of any disposition or other transfer of any shares of Stock acquired under this Agreement if such disposition or transfer is made (a) within two (2) years from the Grant Date with respect to such shares of Stock or (b) within one (1) year after the transfer of such shares of Stock to Participant. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by Participant in such disposition or other transfer.
5.13 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Option and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
5.14 Not a Contract of Employment. Nothing in this Agreement or in the Plan shall confer upon the Participant any right to continue to serve as an employee or other service provider of the Company or any of its Subsidiaries.
5.15 Entire Agreement. The Plan, the Grant Notice and this Agreement (including all Exhibits thereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.
5.16 Section 409A. This Option is not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement (or any Exhibits hereto), if at any time the Administrator determines that the Option (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole discretion (without any obligation to do so or to indemnify Participant or 

any other person for failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement (or any Exhibits hereto), or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate either for the Option to be exempt from the application of Section 409A or to comply with the requirements of Section 409A.
5.17 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.
5.18 Consent to Personal Data Use. The Participant acknowledges and agrees that the Company is permitted to collect, hold, store, process, modify, transfer, lock or delete certain personal (and sensitive) data in any medium about Participant (i.e., name, home address, telephone number, e-mail address, date of birth, tax identification number and payroll information) as a part of its personnel and other business records in the course of its business, including for the-purpose of tracking stock option grants, processing stock option exercises and subsequent share transfers and sales, arranging for appropriate tax reporting and withholding and regulatory tracking and reporting purposes and the Company may disclose such information to third parties in the event that such disclosure is in the Company’s view required in the course of its business, including for the proper tracking of stock option grants, processing stock option exercises and subsequent share transfers and sales, arranging for appropriate tax reporting and withholding and regulatory tracking. This personal data will be transferred to other locations, including locations outside of the European Union and in so-called insecure third-party countries that do not guarantee the data privacy protection level of the European Union.
The Company will hold, collect and otherwise process certain personal data as set out in the Company’s privacy notice, which is available on the Company’s website. All personal data will be treated in accordance with applicable data protection laws and regulations. 
5.19 Special Provisions for Stock Options Granted to Participants Outside the U.S. The Option shall be subject to the special provisions, if any, for the Participant’s country of residence, as set forth in the Special Provisions for Stock Options Granted to Participants Outside the U.S. attached to the Grant Notice as Exhibit B (the “Non-U.S. Provisions”).
(a) If Participant relocates to one of the countries included in the Non-U.S. Provisions during the life of the Option, the special provisions for such country shall apply to Participant, to the extent the Company determines that the application of such provisions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan.
(b) The Company reserves the right to impose other requirements on the Option and the shares of Stock purchased upon exercise of the Option, to the extent the Company determines it is necessary or advisable in order to comply with local laws or facilitate the administration of the Plan, and to require Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

EXHIBIT B
TO STOCK OPTION GRANT NOTICE
SPECIAL PROVISIONS FOR STOCK OPTIONS
GRANTED TO PARTICIPANTS OUTSIDE THE U.S.
This Exhibit B to the Corcept Therapeutics Incorporated 2012 Incentive Award Plan (the “Plan”) Stock Option Grant Notice (“Grant Notice”) includes special terms and conditions applicable to Participants in the countries below. These terms and conditions are in addition to those set forth in the Stock Option Agreement (the “Agreement”) and the Grant Notice. In the event of any inconsistency between the Agreement, the Grant Notice or the Plan and terms in this Exhibit B, the terms of this Exhibit B shall control. Any capitalized term used in this Exhibit B without definition shall have the meaning ascribed to such term in the Plan, the Grant Notice or the Agreement, as applicable.
This Exhibit B also includes information relating to exchange control and other issues of which Participant should be aware with respect to participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the respective countries as of January 2012. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the information herein as the only source of information relating to the consequences of participation in the Plan because the information may be out of date at the time the Option is exercised or shares of Stock acquired under the Plan are sold.
In addition, the information is general in nature and may not apply to the particular situation of Participant, and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws in Participant’s country may apply to Participant’s individual situation. Finally, if Participant is a citizen or resident of a country other than the one in which he or she is currently working, the information contained herein may not be applicable to Participant.
UNITED KINGDOM
Service Providers. The Agreement as amended pursuant to this Exhibit B forms the rules of the employee share scheme applicable to the United Kingdom based Participants of the Company and any Subsidiaries. Only Employees of the Company or any subsidiary or affiliate of the Company are eligible to be granted Options under the Agreement. Other Service Providers who are not Employees are not eligible to receive Options under the Agreement in the United Kingdom.
Section 3.4 of the Agreement. Section 3.4 of the Agreement shall not apply.
Scope of Option Grant. The grant of an Option does not form part of the Participant’s entitlement to remuneration or benefits in terms of his employment with the Company or any subsidiary or affiliate.Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

STOCK PURCHASE AGREEMENT
(the “Agreement”), dated as of February 15, 2022 (the “Effective Date”) by and between HOOKIPA
PHARMA INC., a Delaware corporation (the “Company”), and GILEAD SCIENCES, INC., a Delaware corporation (the
 “Buyer”). Capitalized terms used herein and not otherwise defined herein are defined in Section 11 hereof.

 

WHEREAS:

 

Simultaneously upon entry
into this Agreement, the Buyer is entering into that certain Amended and Restated Research Collaboration and License Agreement by and
between the Buyer and Hookipa Biotech GmbH, an Austrian corporation and Affiliate of the Company (“HOOKIPA”) (the “Amended
Research Agreement”); and

 

In connection with the Amended
Research Agreement, and subject to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Buyer, and
the Buyer wishes to buy from the Company, up to Thirty-Five Million Dollars ($35,000,000) (such aggregate amount, the “Equity
Commitment”), of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The
shares of Common Stock to be purchased hereunder are referred to herein as the “Shares.”

 

NOW THEREFORE, in consideration
of the representations, warranties, covenants, agreements and obligations contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

		1.	PURCHASE OF COMMON STOCK.

 

Subject to the terms and conditions
set forth in this Agreement, the Company has the right to sell to the Buyer, and the Buyer has the obligation to purchase from the Company,
Shares as follows:

 

(a)              
Initial Equity Purchase; Commencement of Purchases of Common Stock. On the Effective Date, the Buyer shall purchase
from the Company an aggregate of 1,666,666 Shares in exchange for wire transfer to an account designated in writing by the Company of
$4,999,998 at a purchase price per Share equal to $3.00 (such purchase the “Initial Equity Purchase” and such Shares
are referred to herein as “Initial Shares”). Thereafter, the purchase and sale of additional Shares hereunder shall
occur from time to time upon delivery of written notices by the Company to the Buyer on the terms and conditions as set forth herein,
subject to and following the satisfaction of the conditions set forth in Sections 6 and 7 below.

 

(b)              
Subsequent Purchases. Subject to the terms and conditions of this Agreement, the Company shall also have the right
but not the obligation to direct the Buyer to purchase up to an additional amount of Shares equal to the Equity Commitment less the aggregate
Initial Equity Purchase, in one or two additional equity purchases, by the Company’s delivery to the Buyer of a VWAP Purchase Notice,
and, so long as the terms and conditions set forth in Sections 5, 6 and 7 have been complied with in all respects
by the Company, the Buyer thereupon shall have the obligation to buy Shares in the amount of the VWAP Purchase Amount on the VWAP Purchase
Date (each such subsequent purchase, a “VWAP Purchase”). At the first VWAP Purchase following the Initial Equity Purchase
(the “Second Equity Purchase”), if one occurs, the Buyer shall purchase the amount of Shares set forth in the corresponding
VWAP Purchase Notice at a purchase price per share equal to (a) the VWAP Purchase Price plus (b) a premium of 30% on the VWAP Purchase
Price. At the second VWAP Purchase following the Initial Equity Purchase (the “Third Equity Purchase”), if one occurs,
the Buyer shall purchase the amount of Shares set forth in the corresponding VWAP Purchase Notice at a purchase price per share equal
to the VWAP Purchase Price. Notwithstanding anything in this Section 1(b) to the contrary, if a VWAP Purchase Notice is delivered
requesting that the Buyer consummate the Second Equity Purchase or the Third Equity Purchase in a public offering of the Company’s
Common Stock (a “Public Offering”), the VWAP Purchase Price, for purposes of this subsection (b), shall be the price
of the Common Stock sold to the public in the Public Offering and the VWAP Purchase Date shall be amended to occur concurrently with the
closing of the Public Offering. Notwithstanding the foregoing, if the Company elects to have the Buyer purchase Shares as part of a Public
Offering (in whole or in part), such decision will be subject to a reasonable determination by outside counsel to the Company that Buyer’s
purchase of Shares in the Public Offering would not violate applicable securities laws, including the 1933 Act, or applicable market rules
or regulations, including any rules of the Principal Market (a “Disqualification Event”). In the event of a Disqualification
Event, the Shares shall be purchased at the Public Offering price per share of Common Stock in a concurrent private placement of Shares
(the “Concurrent Private Placement”), pursuant to which the Buyer shall purchase the Shares specified in the VWAP Purchase
Notice at the Closing of the Public Offering, as if such date was the VWAP Purchase Date. If the purchase of Shares is in a Concurrent
Private Placement, the Company and the Buyer shall execute and deliver such documents that are: (i) customary for a transaction structured
as a Concurrent Private Placement with a Public Offering, and (ii) reasonably satisfactory to the Company and the Buyer.

 

     

     

    

 

(c)              
Records of Purchases. The Buyer and the Company shall each maintain records showing the remaining Available Amount
at any given time and the dates and VWAP Purchase Amounts for each purchase, or shall use such other method reasonably satisfactory to
the Buyer and the Company to reconcile the remaining Available Amount at any time under this Agreement.

 

(d)              
Taxes. The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the
issuance and delivery of any shares of Common Stock to the Buyer made under this Agreement.

 

(e)              
Compliance with Principal Market Rules. Notwithstanding anything in this Agreement to the contrary, and in addition
to the limitations set forth in Section 1(b), the total number of shares of Common Stock that may be issued under this Agreement
shall be limited to 5,497,050 shares of Common Stock (the “Common Stock Cap”), which equals 19.9% of the Company’s
outstanding shares of Common Stock as of the date hereof, unless Company stockholder approval is obtained to issue more than such Common
Stock Cap. The Common Stock Cap shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split,
reverse stock split or other similar transaction. The foregoing limitation shall not apply if stockholder approval
has been obtained or at any time the Common Stock Cap is reached and at all times thereafter if the average price paid for all shares
issued under this Agreement is equal to or greater than $1.26 (the “Minimum Price”), a price equal to the consolidated
closing bid price on the Business Day prior to the Effective Date (in such circumstance, for purposes of the Principal Market, the transactions
contemplated hereby would not be “below market” and the Common Stock Cap would not apply). The Minimum Price shall be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction involving
the Company and affecting its capital stock. The Company shall not be required or permitted to issue, and the Buyer shall not be required
to purchase, any shares of Common Stock under this Agreement if such issuance would breach the Company’s obligations under the rules
or regulations of the Principal Market. The Company may, in its sole discretion, determine whether to obtain stockholder approval to issue
more than 19.9% of its outstanding shares of Common Stock hereunder if such issuance would require stockholder approval under the rules
or regulations of the Principal Market.

 

(f)              
Beneficial Ownership Limitation. Without the consent of the Buyer, the Company shall not issue, and the Buyer
shall not be obligated to purchase any shares of Common Stock under this Agreement, if such shares proposed to be issued and sold, when
aggregated with all other shares of Common Stock then owned beneficially (as calculated pursuant to Section 13(d) of the Securities Exchange
Act of 1934, as amended (the “1934 Act”) and Rule 13d-3 promulgated thereunder) by the Buyer and its Affiliates would
result in beneficial ownership by the Buyer and its Affiliates, collectively, of more than 19.9% of the then issued and outstanding shares
of Common Stock of the Company.

 

		2.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The Company represents and
warrants to the Buyer the following as of the Effective Date and as of each VWAP Purchase Date:

 

(a)              
Private
Placement. Neither the Company nor any Person acting on its behalf, has, directly or indirectly, made any offers or sales of any
security or solicited any offers to buy any security, under any circumstances that would require registration of the Shares under the
1933 Act. Subject to the accuracy of the representations made by the Buyer in Section 3, the Shares (other than those issued in
a Public Offering) will be issued and sold to Buyer in compliance with applicable exemptions from the registration and prospectus delivery
requirements of the 1933 Act and the registration and qualification requirements of all applicable securities laws of the states of the
United States. The Company has not engaged any brokers, finders or agents, or incurred, or will incur, directly or indirectly, any liability
for brokerage or finder’s fees or agents’ commissions or any similar charges in connection with this Agreement and the transactions
contemplated hereby.

 

(b)              

Organization and Qualification. The Company and its Subsidiaries are corporations, limited companies, limited
liability companies or other entities duly organized and validly existing and in good standing under the laws of the jurisdiction in which
they are incorporated or organized, and have all requisite corporate or equivalent organizational power and authority to own, lease, operate
and occupy their properties and to carry on their business as now being conducted. Each of the Company and its Subsidiaries is duly qualified
as a foreign corporation, limited company, limited liability company or other business entity to do business and is in good standing in
every jurisdiction in which its ownership or lease of property or the nature of the business conducted by it makes such qualification
necessary, except to the extent that the failure to be so qualified or be in good standing would not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect to the Company or its Subsidiaries, taken as a whole. Hookipa Biotech GmbH
is the only “material subsidiary” of the Company, as such term is defined by Regulation S-X of the 1933 Act.

 

    -2-

     

    

 

(c)              
Authorization; Enforcement; Validity. (i) The Company has the requisite corporate power and authority to enter into
and perform its obligations under this Agreement and to issue the Shares in accordance with the terms hereof and thereof, (ii) the execution
and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby, including without limitation,
the reservation for issuance and the issuance of the Shares issuable under this Agreement, (X) have been duly authorized by the Company’s
Board of Directors or duly authorized committee thereof, (Y) do not conflict with the Company’s or any of the Company’s Subsidiary’s
organizational documents currently in effect, including their certificate of incorporation and bylaws (or equivalent organizational documents),
and (Z) do not require further consent or authorization by the Company, its Board of Directors or any other Person (including the Company’s
stockholders), except as expressly set forth in this Agreement, (iii) this Agreement has been duly executed and delivered by the Company
and (iv) this Agreement constitutes the valid and binding obligations of the Company enforceable against the Company in accordance with
their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies.

 

(d)              
Capitalization.

 

(i)              
The authorized capital of the Company as of the Effective Date consists of: (X) 100,000,000 shares of Common Stock, of which
27,499,002 shares are issued and outstanding, (Y) 3,900,000 shares of Class A Common Stock, of which 3,819,732 shares are issued and outstanding
and (Z) 10,000,000 shares of preferred stock, of which 1,752 shares are issued and outstanding.

 

(ii)              
All of the issued and outstanding shares of the Company’s capital stock have been duly authorized and validly issued
and are fully paid and nonassessable; none of such shares were issued in violation of any preemptive rights; and such shares were issued
in compliance with all applicable state and federal securities laws. Except as described or referred to in the Company SEC Documents (as
defined below), there are not any outstanding equity securities, options, warrants, rights (including conversion or preemptive rights),
calls, commitments of any character or other agreements pursuant to which the Company is or may become obligated to issue, sell or repurchase
any shares of its capital stock or any other securities of the Company. There are no voting agreements, buy-sell agreements, option or
right of first purchase agreements or other similar agreements among the Company and/or any of the securityholders of the Company relating
to the securities of the Company held by them. No Person has any right of first refusal, preemptive right, right of participation, or
any similar right to participate in the transactions contemplated by this Agreement.

 

(iii)            
All of the issued and outstanding capital stock or other equity or ownership interests of each of the Company’s Subsidiaries
have been duly authorized and validly issued, are fully paid and nonassessable and are owned by the Company, directly or through one or
more of its other Subsidiaries, free and clear of any security interest, mortgage, pledge, Lien, encumbrance or adverse claim. The Company
does not own or control, directly or indirectly, any corporation, association or other entity other than the Subsidiaries listed in the
Company SEC Documents.

 

(iv)              Other
than as described in the Company SEC Documents or entered into as a result of this Agreement, there are no agreements, arrangements or
understandings under which the Company or any of its Subsidiaries is obligated to register the sale of any of its or their securities
under the 1933 Act.

 

(v)               The Company does not have outstanding shareholder purchase rights or “poison pill” or any similar arrangement
in effect. There are no anti-dilution or price adjustment provisions contained in any security issued by the Company (or in any agreement
providing rights to security holders) that will be triggered by the issuance of the Shares.

 

(vi)             
Upon issuance in accordance with the terms and conditions of this Agreement, any and all Shares issued to the Buyer hereunder
shall be validly issued, fully paid and non-assessable and free from all Liens, with Buyer being entitled to all rights accorded to a
holder of Common Stock.

 

    -3-

     

    

 

(e)               No Conflicts.

 

(i)                The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby (including,
without limitation, the reservation for issuance and issuance of the Shares) and compliance by the Company with its obligations hereunder
have been duly authorized by all necessary corporate action and do not and will not, whether with or without the giving of notice or passage
of time or both, conflict with or constitute a breach of, or default or Repayment Event (as defined below) under, or result in the creation
or imposition of any Lien upon any properties or assets of the Company or any Subsidiary pursuant to any Contract, indenture, deed of
trust, loan or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which it or any of them
may be bound or to which any of the properties or assets of the Company or any Subsidiary is subject (collectively, “Agreements
and Instruments”) (except for such conflicts, breaches, defaults or Repayment Events or Liens that would not reasonably be expected
to, individually or in the aggregate, result in a Material Adverse Effect), nor will such action result in any violation of (x) the provisions
of the charter, by-laws or similar organizational document of the Company or any of its Subsidiaries or (y) any law, statute, rule, regulation,
judgment, order, writ or decree of any arbitrator, court, governmental body, regulatory body, administrative agency or other authority,
body or agency having jurisdiction over the Company or any of its Subsidiaries or any of their respective properties, assets or operations
(each, a “Governmental Entity”), except with respect to clause (y), such violations as would not reasonably be expected
to, individually or in the aggregate, result in a Material Adverse Effect. As used herein, a “Repayment Event” means
any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s
behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of
its Subsidiaries.

 

(ii)              
Neither the Company nor any of its Subsidiaries is (A) in violation of its charter, by-laws or similar organizational document,
(B) in default in the performance or observance of any obligation, agreement, covenant or condition contained in the Agreements and Instruments,
except for such defaults that would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect,
or (C) in violation of any law, statute, rule, regulation, judgment, order, writ or decree of any Governmental Entity, except for such
violations that would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.

 

(iii)             
Except as specifically contemplated by this Agreement, reporting obligations under the 1934 Act, or as required under the
1933 Act or applicable state securities laws or the filing of a Listing of Additional Shares Notification Form with the Principal Market,
the Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental
agency or any regulatory or self-regulatory agency in order for it to execute, deliver or perform any of its obligations under or contemplated
by this Agreement in accordance with the terms hereof. Except for reporting obligations under the 1934 Act, all consents, authorizations,
orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence shall be obtained or effected
on or prior to the Effective Date.

 

(f)              
Litigation. Except as set forth in the Company SEC Documents, there is no action, charge, suit, proceeding, suit,
litigation, arbitration, settlement, claim, complaint, inquiry, hearing, assessment, audit, investigation or request (each an “Action”)
pending or, to the Company’s knowledge, threatened, against the Company or its Subsidiaries or which the Company or its Subsidiaries
intend to initiate which (i) has or would reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect
to the Company or its Subsidiaries, taken as a whole or (ii) questions the validity of this Agreement or the transactions contemplated
hereby or any action taken or to be taken pursuant to hereto. Except as set forth in the Company SEC Documents, no judgment, order, writ,
injunction, decree or award has been issued by or, to the knowledge of the Company, requested of any Governmental Entity that could be
reasonably expected to, individually or in the aggregate, result in a Material Adverse Effect to the Company or its Subsidiaries, taken
as a whole.

 

    -4-

     

    

 

(g)             
Licenses and Other Rights; Compliance with Laws. The Company and its Subsidiaries possess such permits, licenses,
approvals, consents, approvals, waivers, exemptions, franchises, certificates, orders, registrations and other authorizations (collectively,
 “Governmental Licenses”) issued by the appropriate Governmental Entities necessary to conduct the business now operated
by them (including, without limitation, all such Governmental Licenses required by the U.S. Food and Drug Administration (the “FDA”),
the European Medicines Agency, or any other federal, state, local or foreign agencies or bodies engaged in the regulation of clinical
or preclinical studies, pharmaceuticals, biologics or activities related to the business now operated by the Company and its Subsidiaries),
except where the failure so to possess would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse
Effect. The Company and its Subsidiaries are in compliance with the terms and conditions of all Governmental Licenses, except where the
failure so to comply would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect. All of
the Governmental Licenses are valid and in full force and effect, except when the invalidity of such Governmental Licenses or the failure
of such Governmental Licenses to be in full force and effect would not reasonably be expected to, individually or in the aggregate, result
in a Material Adverse Effect. Neither the Company nor any of its Subsidiaries has received any notice of any Action relating to the revocation
or modification of any Governmental Licenses which, individually or in the aggregate, if the subject of an unfavorable decision, ruling
or finding, would reasonably be expected to result in a Material Adverse Effect. The Company and
its Subsidiaries (i) are, and at all times have been, in compliance with all statutes, rules and regulations applicable to the ownership,
testing, development, manufacture, packaging, processing, use, distribution, storage, import, export or disposal of any product manufactured
or distributed by the Company or its Subsidiaries (“Applicable Laws”), except where such noncompliance would not, individually
or in the aggregate, result in a Material Adverse Effect; and (ii) have not received any FDA Form 483, written notice of adverse
finding, warning letter, untitled letter or other correspondence or written notice from any court or arbitrator or Governmental Entity
alleging or asserting noncompliance with (x) any Applicable Laws or (y) any Governmental License required by any such Applicable
Laws, except where being in contravention of any of the foregoing representations or warranties, individually or in the aggregate, would
not result in a Material Adverse Effect.

 

(h)               SEC Reporting. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the 1934 Act. The Company
has timely filed all required reports, schedules, forms, statements and other documents (including exhibits and all other information
incorporated therein), and any required amendments to any of the foregoing, with the SEC (the “Company SEC Documents”).
As of their respective filing dates, each of the Company SEC Documents complied in all material respects with the requirements of the
1933 Act and the 1934 Act, and the rules and regulations of the SEC promulgated thereunder, applicable to such Company SEC Document. No
Company SEC Document contains any untrue statement of a material fact or omits to state a material fact required to be stated therein
or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 
No inquiries or any other investigation conducted by or on behalf of Buyer or its representatives or counsel will modify, amend or
affect Buyer’s right to rely on the truth, accuracy and completeness of the Company SEC Documents and the Company’s representations
and warranties contained in this Agreement.

 

(i)               
Principal Market Rules. The Common Stock of the Company is listed on the Principal Market. Other than as disclosed
in a Company SEC Document, the Company is not in violation of the continued listing requirements of the Principal Market and has no knowledge
of any facts that would reasonably lead to delisting or suspension of the Common Stock from the Principal Market, or terminating the registration
of the Common Stock under the 1934 Act. Other than as disclosed in a Company SEC Document, the Company is not subject to any notices or
actions from or to the Principal Market other than routine matters incident to listing on the Principal Market and not involving a violation
of the rules of the Principal Market. The Principal Market has not commenced any final delisting proceedings against the Company.

 

(j)               
Financial Statements. The financial statements, together with the related notes and schedules, of the Company included
in the Company SEC Documents comply as to form in all material respects with all applicable accounting requirements and the published
rules and regulations of the SEC and all other applicable rules and regulations with respect thereto. Such financial statements, together
with the related notes and schedules, have been prepared in accordance with U.S. Generally Accepted Accounting Principles applied on a
consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes
thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or
summary statements), and fairly present in all material respects the financial condition of the Company and its consolidated Subsidiaries
as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements,
to normal year-end audit adjustments).

 

    -5-

     

    

 

(k)              
No Undisclosed Liabilities. Neither the Company nor any of its Subsidiaries has any liabilities, obligations, claims
or losses (whether liquidated or unliquidated, secured or unsecured, absolute, accrued, contingent or otherwise) that would be required
to be disclosed on a balance sheet of the Company or any of its Subsidiaries (including the notes thereto) in conformity with GAAP and
are not disclosed in the Company SEC Documents, other than those incurred in the ordinary course of the Company’s or its Subsidiaries’
respective businesses since September 30, 2021.

 

(l)               
Absence of Certain Changes.

 

(i)    
Except as disclosed in the Company SEC Documents and excluding the transactions contemplated herein and by the Amended Research
Agreement, since January 1, 2021, the Company has operated only in the ordinary course of business consistent with past practice and no
change or event has occurred, except where such change or event has not had, and would not reasonably be expected to have, a Material
Adverse Effect on the Company and its Subsidiaries.

 

(ii)  
  Except as set forth in the Company SEC Documents, since January 1, 2021, the Company has not (X) declared
or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its capital stock, or (Y) sold,
exchanged or otherwise disposed of any of its material assets or rights.

 

(iii)
     Since January 1, 2021, the Company has not admitted in writing its inability to pay its debts generally as they
become due, filed or consented to the filing against it of a petition in bankruptcy or a petition to take advantage of any insolvency
act, made an assignment for the benefit of creditors, consented to the appointment of a receiver for itself or for the whole or any substantial
part of its property, or had a petition in bankruptcy filed against it, been adjudicated a bankrupt, or filed a petition or answer seeking
reorganization or arrangement under the federal bankruptcy laws or any other laws of the United States or any other jurisdiction.

 

(m)             
Not an Investment Company. The Company is not, and after giving effect to the transactions contemplated by the Agreement,
will not be, an “investment company” as defined in the Investment Company Act of 1940, as amended.

 

(n)              
No Integration. The Company has not, directly or through any agent, sold, offered for sale, solicited offers to buy
or otherwise negotiated in respect of, any security (as defined in the 1933 Act) that is or will be integrated with the Shares sold pursuant
to this Agreement in a manner that would require the registration of the Shares under the 1933 Act.

 

(o)              
Tax Matters. All United States federal income tax returns of the Company and its Subsidiaries required by law to
be filed have been filed and all taxes shown by such returns or otherwise assessed, which are due and payable, have been paid, except
assessments against which appeals have been or will be promptly taken and as to which adequate reserves have been provided for by the
Company and/or its Subsidiaries. The United States federal income tax returns of the Company and its Subsidiaries through the fiscal year
ended December 31, 2020 have been settled and no assessment in connection therewith has been made against the Company or its Subsidiaries.
The Company and its Subsidiaries have filed all other tax returns that are required to have been filed by them pursuant to applicable
foreign, state, local or other law except insofar as the failure to file such returns would not reasonably be expected to, individually
or in the aggregate, result in a Material Adverse Effect, and has paid all taxes due pursuant to such returns or pursuant to any assessment
received by the Company and its Subsidiaries, except for such taxes, if any, as are being contested in good faith and as to which adequate
reserves have been established by the Company or its Subsidiaries. The charges, accruals and reserves on the books of the Company and
its Subsidiaries in respect of any income and corporation tax liability for any years not finally determined are adequate to meet any
assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that
would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.

 

(p)              
No Bad Actors. None of the Company, any affiliated issuer, any director, executive officer, or any beneficial owner
of twenty percent (20%) or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power,
(each, an “Issuer Covered Person”) is subject to any of the “Bad Actor” disqualifications described in
Rule 506(d)(1)(i) to (viii) under the 1933 Act (a “Bad Actor Event”), except for a Bad Actor Event covered by Rule
506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Bad Actor
Event.

 

    -6-

     

    

 

		3.	BUYER’S REPRESENTATIONS AND WARRANTIES.

 

The Buyer represents and warrants
to the Company that as of the Effective Date and as of each VWAP Purchase Date:

 

(a)              
Organization. The Buyer is a corporation duly organized and validly existing in good standing under the laws of the
jurisdiction in which it is organized, and has the requisite organizational power and authority to own its properties and to carry on
its business as now being conducted.

 

(b)              
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of the
Buyer and is a valid and binding agreement of the Buyer enforceable against the Buyer in accordance with its terms, subject to general
principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating
to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. The execution and delivery of the Agreement
by the Buyer and the consummation by it of the transactions contemplated hereby do not conflict with the Buyer’s certificate of
organization or operating agreement or similar organizational documents, and do not require further consent or authorization by the Buyer,
its managers or its members.

 

(c)              
Investment Purpose. The Buyer is entering into this Agreement and acquiring the Shares, for its own account for investment
only and not with a view towards, or for resale in connection with, the public sale or distribution thereof; provided however, by making
the representations herein, the Buyer does not agree to hold any of the Shares for any minimum or other specific term.

 

(d)              
Accredited Investor; Access to Information. The Buyer is an “accredited
investor” as defined in Regulation D under the 1934 Act and is knowledgeable, sophisticated and experienced in making, and is qualified
to make decisions with respect to investments in shares presenting an investment decision like that involved in the purchase of the Shares.
The Buyer has been furnished with materials relating to the offer and sale of the Shares that have been requested by the Buyer, including
the Company SEC Documents, and the Buyer has had the opportunity to review the Company SEC Documents. The Buyer has been afforded the
opportunity to ask questions of the Company. Neither such inquiries nor any other investigation conducted by or on behalf of the Buyer
or its representatives or counsel will modify, amend or affect the Buyer’s right to
rely on the truth, accuracy and completeness of the Company SEC Documents and the Company’s representations and warranties contained
in this Agreement.

 

(e)              
Reliance on Exemptions. The Buyer understands that the Company intends for
the Shares (other than any shares issued in a Public Offering) to be offered and sold to it in reliance upon specific exemptions from
the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth and accuracy
of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Buyer
set forth herein in order to determine the availability of such exemptions and the eligibility of the Buyer to acquire the Shares.

 

(f)               
Restricted Securities. The Buyer understands that the Shares (other than those issued in a Public Offering)
will be characterized as “restricted securities” under the U.S. federal securities Laws inasmuch as they are being acquired
from the Company in a private placement under Section 4(a)(2) of the Securities Act and that
under such laws and applicable regulations such Shares may be resold without registration under the 1933 Act only in certain limited circumstances.

 

(g)               No Governmental Review. The Buyer understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Shares or the fairness or suitability of the investment
in the Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.

 

    -7-

     

    

 

		4.	Transfer Restrictions.

 

(a)               Transfer or Resale. With respect to the Shares (other than Shares issued in a Public Offering), the Buyer understands
that, expect as set forth in Section 10:

 

(i)              
the Shares have not been and are not being registered under the 1933 Act or any applicable state securities laws and, consequently,
the Buyer may have to bear the risk of owning the Shares for an indefinite period of time because the Shares may not be transferred unless
(X) the resale of Shares are registered pursuant to an effective registration statement under the 1933 Act; (Y) the Buyer has delivered
to the Company an opinion of counsel (in form, substance and scope customary for opinions of counsel in comparable transactions) to the
effect that the Shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration; or (Z) the
Shares are sold or transferred pursuant to Rule 144; and

 

(ii)              
any sale of the Shares made in reliance on Rule 144 may be made only in accordance with the terms of Rule 144 and, if Rule
144 is not applicable, any resale of the Shares under circumstances in which the seller (or the person through whom the sale is made)
may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the
1933 Act or the rules and regulations of the SEC thereunder.

 

(b)               Legends. The Buyer understands the Shares (other than Shares issued in a Public Offering) will bear a restrictive
legend in substantially the following form (and a stop-transfer order may be placed against transfer of the Shares):

        

THE SALE, PLEDGE, HYPOTHECATION
OR TRANSFER OF THESE SECURITIES IS SUBJECT TO THE TERMS AND CONDITIONS OF A STOCK PURCHASE AGREEMENT DATED FEBRUARY 15, 2022 BETWEEN HOOKIPA
PHARMA INC. AND GILEAD SCIENCES, INC.

  

    -8-

     

    

 

		5.	CLOSINGS

 

(a)              
Closings. The closing of the transactions contemplated by Section 1 (each, a “Closing”)
will be held at the offices of the Company or through the electronic exchange of documents and signatures on the applicable VWAP Purchase
Date or, in the case of the Initial Equity Purchase, the Effective Date (each, a “Closing Date”), subject in all cases
to the conditions set forth in Sections 6 and 7 being satisfied or waived (other than those conditions that by
their nature are to be satisfied or waived at the Closing Date) or at such other place, if any, time and/or date as may be jointly designated
by the Company and the Buyer.

 

(b)             
Payment for Shares. On or prior to the applicable Closing Date, the Buyer shall pay to the Company the amounts contemplated
by Section 1 as full payment for the Shares. All payments made under this Agreement shall be made in lawful money of
the United States of America via wire transfer of immediately available funds to such account as the Company may from time to time designate
by written notice in accordance with the provisions of this Agreement at least three (3) Business Days in advance of any such payment.
Whenever any amount expressed to be due by the terms of this Agreement is due on any day that is not a Business Day, the same shall instead
be due on the next succeeding day that is a Business Day.

 

(c)               Closing
Deliverables.

 

(i)                
At each Closing, the Company will instruct the Transfer Agent to register the Shares in book-entry form in the name of the
Buyer and deliver to the Buyer:

 

(A)       a
duly executed cross-receipt in form and substance reasonably satisfactory to each party (the “Cross-Receipt”);

 

(B)        a
certificate in form and substance reasonably satisfactory to the Buyer and duly executed on behalf of the Company by an authorized officer
of the Company, certifying that the conditions to the Closing set forth in Section 7(a)-(e) of
this Agreement have been fulfilled;

 

(C)        a
certificate of the secretary of the Company dated as of the Closing Date certifying that attached thereto is a true and complete copy
of all resolutions adopted by the Board authorizing the execution, delivery and performance of this Agreement and the transactions contemplated
herein and that all such resolutions are in full force and effect and are all the resolutions adopted in connection with the transactions
contemplated hereby as of the Closing Date;

 

(D)        the
opinion of the Company’s legal counsel dated as of the Closing Date in form and substance reasonably satisfactory to the Buyer;
and

 

(E)        evidence
reasonably satisfactory to the Buyer from the Transfer Agent that the Shares have been so delivered.

 

(ii)              
At the Closing, the Buyer will deliver to the Company:

 

(A)        a
duly-executed Cross-Receipt; and

 

(B)         a
certificate in form and substance reasonably satisfactory to the Company and duly executed on behalf of the Buyer by an authorized officer
of the Buyer, certifying that the conditions to the Closing set forth in Section 6(b) and
Section 6(c) of this Agreement have been fulfilled.

 

    -9-

     

    

 

 

		6.	CONDITIONS TO THE COMPANY’S RIGHT TO SELL SHARES UNDER THIS AGREEMENT.

 

The right of the Company hereunder
to sell the Initial Shares and any additional Shares pursuant to Section 1 is subject to the satisfaction of each of the following conditions
on or before the applicable Closing Date:

 

(a)       Receipt
of Funds. The Company will have received immediately available funds in the full amount of the VWAP Purchase Price for the Shares
being purchased hereunder.

 

(b)       Representations
and Warranties. The representations and warranties made by the Buyer in Section 3 will be true and correct in
all material respects (or, to the extent representations or warranties are qualified by materiality, “Material Adverse Effect”
or similar qualifiers, in all respects) as of such Closing Date, except to the extent such representations and warranties are made as
of another date, in which case such representations and warranties will be true and correct in all material respects as of such other
date (or, to the extent representations or warranties are qualified by materiality, “Material Adverse Effect” or similar qualifiers,
in all respects).

 

(c)        Absence
of Litigation. No preliminary or permanent injunction or other binding order, decree or ruling issued by a Governmental Entity shall
be in effect that shall have the effect of preventing the consummation of the transactions contemplated by this Agreement. No Action challenging
this Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay any Closing, or any
Action that would reasonably be expected to have the effect of prohibiting, altering, preventing or materially delaying any Closing, will
have been instituted or be pending before any Governmental Entity.

 

(d)       Execution
of the Amended Research Agreement. The Company and the Buyer shall have duly executed and delivered the Amended Research Agreement,
which shall be in full force and effect. 

 

(e)       Closing
Deliverables. All closing deliverables as required under Section 5(c) shall have been delivered by the Buyer
to the Company.

 

		7.	CONDITIONS TO THE BUYER’S OBLIGATION TO MAKE PURCHASES OF SHARES OF COMMON STOCK.

 

The obligation of the Buyer
to purchase the Initial Shares and any additional Shares pursuant to Section 1 is subject to the satisfaction of each of the following
conditions on or before the applicable Closing Date:

 

(a)       Representations
and Warranties. The representations and warranties made by the Company in Section 2 shall be true and correct
in all material respects (or, to the extent representations or warranties are qualified by materiality, “Material Adverse Effect”
or similar qualifiers, in all respects) as of such Closing Date, except to the extent such representations and warranties are made as
of another date, in which case such representations and warranties will be true and correct in all material respects (or, to the extent
representations or warranties are qualified by materiality, “Material Adverse Effect” or similar qualifiers, in all respects)
as of such other date.

 

    -10-

     

    

 

(b)      Covenants.
All covenants and agreements contained in this Agreement to be performed or complied with by the Company on or prior to such Closing Date
shall have been performed or complied with in all material respects.

 

(c)       Transfer
Agent Instructions. The Company will have delivered to its Transfer Agent irrevocable written instructions to issue the Shares to
the Buyer in a form and substance acceptable to such transfer agent.

 

(d)       Nasdaq
Qualification. The Principal Market shall have raised no objection to the consummation of the transactions contemplated by this Agreement
in the absence of stockholder approval of such transactions.

 

(e)       Absence
of Litigation. No preliminary or permanent injunction or other binding order, decree or ruling issued by a Governmental Entity shall
be in effect that shall have the effect of preventing the consummation of the transactions contemplated by this Agreement. No Action challenging
this Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay any Closing, or any
Action that would reasonably be expected to have the effect of prohibiting, altering, preventing or materially delaying any Closing, will
have been instituted or be pending before any Governmental Entity.

 

(f)        Execution
of the Amended Research Agreement. The Company and the Buyer shall have duly executed and delivered the Amended Research Agreement,
which shall be in full force and effect.

 

(g)       Authorizations.
All authorizations, approvals or permits, if any, of any Governmental Entity that are required in connection with the lawful issuance
and sale of the Shares pursuant to this Agreement shall have been duly obtained and shall be effective on and as of the Closing.

 

(h)       Closing
Deliverables. All closing deliverables as required under Section 5(c) shall have been delivered by the applicable
party hereto.

 

(i)        No
Material Adverse Effect. No Material Adverse Effect with respect to the Company or its Subsidiaries shall have occurred or be existing
as of such Closing Date.

 

(j)
        Delisting Notice. In the event the Company shall have received a Delisting Notice, the Company shall have regained compliance
with the listing rules of the Principal Market and provided reasonably satisfactory evidence to the Buyer of such compliance. 

 

		8.	INDEMNIFICATION.

 

In consideration of the Buyer’s
execution and delivery of this Agreement and acquiring the Shares hereunder and in addition to all of the Company’s other obligations
under this Agreement, the Company shall defend, protect, indemnify and hold harmless the Buyer and all of its Affiliates, members or other
equityholders, officers, directors, and employees, and any of the foregoing person’s agents or other representatives (including,
without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”)
from and against any and all Actions, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective
of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’
fees and disbursements (collectively, the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or
arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement
or any other certificate, instrument or document contemplated hereby, (b) any breach of any covenant, agreement or obligation of the Company
contained in this Agreement or any other certificate, instrument or document contemplated hereby or thereby, or (c) any Action brought
or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of this Agreement
or any other certificate, instrument or document contemplated hereby, other than with respect to Indemnified Liabilities which directly
and primarily result from (A) a breach of any of the Buyer’s representations and warranties, covenants or agreements contained in
this Agreement, or (B) the gross negligence, bad faith or willful misconduct of the Buyer or any other Indemnitee. To the extent that
the foregoing undertaking by the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment
and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. After obtaining knowledge thereof,
an Indemnitee shall promptly (and in any event, within 15 Business Days) provide the Company with notice of any cause which the Indemnitee
has determined has given or could give rise to indemnification hereunder, which notice shall be reasonably detailed and state the relevant
facts or circumstances related to the foregoing. The Company shall have 15 Business Days from date of receipt of notice to respond to
such notice and accept or reject the amount claimed by the Indemnitee. The parties shall have 30 days from the date of the Company’s
response to resolve any dispute between the parties. Thereafter, any dispute between the parties with regards to the amount of or claim
of indemnification hereunder shall be resolved in accordance with Section 12(a) of this Agreement.

 

    -11-

     

    

 

		9.	EVENTS OF DEFAULT.

 

An “Event of Default”
shall be deemed to have occurred and be occurring at any time as any of the following events occurs and has not been cured:

 

(a)               any final notice of institution of delisting proceedings with respect to the Common Stock from the Principal Market until
such time as Company has moved its listing to another market or exchange constituting a Principal Market;

 

(b)               the
material breach of any representation or warranty, covenant or other term or condition under this Agreement, except, in the case of a
breach of a covenant which is reasonably curable, only if such breach continues uncured for a period of at least five (5) Business Days;

 

(c)               if any Person commences an Action against the Company pursuant to or within the meaning of any Bankruptcy Law;

 

(d)               if the Company pursuant to or within the meaning of any Bankruptcy Law; (A) commences a voluntary case, (B) consents
to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a Custodian of it or for all
or substantially all of its property, (D) makes a general assignment for the benefit of its creditors or (E) becomes insolvent;

 

(e)               a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief against the Company in an involuntary
case, (B) appoints a Custodian of the Company or for all or substantially all of its property, or (C) orders the liquidation of the Company
or any Subsidiary; or

 

(f)               
the Buyer terminates the Amended Research Agreement pursuant to Section 13.2 thereof.

 

In addition to any other rights and remedies under
applicable law and this Agreement, including the Buyer termination rights under Section 12(k) hereof, so long as an Event of Default
has occurred and is continuing, or if any event which, after notice and/or lapse of time, would become an Event of Default, has occurred
and is continuing, the Company may not require and the Buyer shall not be obligated to purchase any Shares. If pursuant to or within the
meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding against the Company, a Custodian
is appointed for the Company or for all or substantially all of its property, or the Company makes a general assignment for the benefit
of its creditors, this Agreement shall automatically terminate without any liability or payment to the Company without further action
or notice by any Person. No such termination of this Agreement under Section 12(k)(i) shall affect the Company’s or the Buyer’s
obligations under this Agreement with respect to pending purchases and the Company and the Buyer shall complete their respective obligations
with respect to any pending purchases under this Agreement.

 

    -12-

     

    

 

		10.	REGISTRATION RIGHTS AGREEMENT.

 

Following the Effective Date,
the Buyer and the Company agree to negotiate in good faith and enter into, as promptly as practicable and in any event within 2 months
following the Effective Date, a registration rights agreement, on commercially reasonable and customary terms, obligating the Company
(a) to file a registration statement on Form S-3 to register for resale the Shares issued to the Buyer under each Closing within 4 months
of each such Closing (except in connection with the initial Closing on the Effective Date, for which the Company shall file such registration
statement within 6 months of such closing and (b) to use commercially reasonable efforts to have each such registration statement declared
effective by the SEC as soon as practicable thereafter.

 

		11.	CERTAIN DEFINED TERMS.

 

For purposes of this Agreement,
the following terms shall have the following meanings:

 

(a)              
“1933 Act” means the Securities Act of 1933, as amended.

 

(b)              
“1934 Act” means the Securities Exchange Act of 1934, as amended.

 

(c)              
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one
or more intermediaries controls, is controlled by, or is under common control with, such Person, in each case as of the date on which,
or at any time during the period for which, the determination of affiliation is being made. For purposes of this definition, the term
 “control” (including the correlative meanings of the terms “controlled by” and “under common control with”),
as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management policies of such Person, whether through the ownership of voting securities or by Contract or otherwise.

 

(d)               “Available
Amount” means, prior to any Closing, the Equity Commitment, which amount shall be reduced by the dollar amount of the Initial
Equity Purchase upon consummation thereof and by the dollar amount of each subsequent VWAP Purchase Amount specified by the Company in
a VWAP Purchase Notice issued in connection with a VWAP Purchase pursuant to Section 1 hereof upon consummation of the applicable Closing.

 

(e)               “Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

(f)               
“Business Day” means any day on which the Principal Market is open for trading during normal trading
hours (i.e., 9:30 a.m. to 4:00 p.m. Eastern Time), including any day on which the Principal Market is open for trading for a period of
time less than the customary time.

 

    -13-

     

    

 

(g)               “Contract” means any written or oral legally binding contract, agreement, instrument, commitment or undertaking
of any nature (including leases, subleases, licenses, mortgages, notes, guarantees, sublicenses, subcontracts, letters of intent and purchase
orders), including exhibits and schedules thereto.

 

(h)               “Closing Sale Price” means the last closing trade price for the Common Stock on the Principal Market
as reported by the Principal Market.

 

(i)                “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

(j)               
“Delisting Notice” shall mean any notice of violation of the continued listing requirements of the Principal
Market which is not final and provides the Company with ability to cure such violation pursuant to the rules and regulations of the Principal
Market.

 

(k)             
“Lien” shall mean, with respect to any property, any mortgage, pledge, security interest, attachment,
easement, restriction, encumbrance, lien (statutory or otherwise), right of first refusal or right off first offer, charge, equitable
interest, right of way, restriction on transfer, encroachment, or any other restriction.

 

(l)               
“Material Adverse Effect” means any event, change, circumstance, effect or other matter that has, or
could reasonably be expected to have, either individually or in the aggregate with all other events, changes, circumstances, effects or
other matters, with or without notice, lapse of time or both, a material adverse effect on (a) the business, assets, liabilities, properties,
condition (financial or otherwise), operating results, operations or prospects of the Company and its Subsidiaries, if any, individually
or taken as a whole, or (b) the authority or ability of the Company to perform its obligations under this Agreement or to consummate timely
the transactions contemplated by this Agreement.

 

(m)             
“Person” means an individual or entity including any limited liability company, a partnership, a joint
venture, a corporation, a trust, an unincorporated organization and a government or any department or agency thereof.

 

(n)               “Maturity Date” means December 31, 2023.

 

(o)               “Principal Market” means the NASDAQ Global Select Market; provided however, that in the event the Company’s
Common Stock is ever listed or traded on the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Market or the NASDAQ Capital Market,
then the “Principal Market” shall mean such other market or exchange on which the Company’s Common Stock is then listed
or traded.

 

(p)               “Sale Price” means any trade price for the shares of Common Stock on the Principal Market during normal
trading hours, as reported by the Principal Market.

 

(q)              
“SEC” means the United States Securities and Exchange Commission.

 

(r)                “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company
or other Person of which such Person, either alone or together (i) directly or indirectly owns or purports to own, beneficially or of
record securities or other interests representing more than 50% of the outstanding equity, voting power, or financial interests of such
other Person or (ii) is entitled, by Contract or otherwise, to elect, appoint or designate directors constituting a majority of the members
of such other Person’s board of directors or other governing body.

 

    -14-

     

    

 

(s)               “Transfer
Agent” means the transfer agent of the Company as set forth in Section 12(f) hereof or such other person who is then serving
as the transfer agent for the Company in respect of the Common Stock.

 

(t)               
“VWAP Purchase Amount” means, with respect to any particular VWAP Purchase Notice, the portion of the
Available Amount to be purchased by the Buyer in connection with a VWAP Purchase pursuant to Section 1 hereof pursuant to a valid VWAP
Purchase Notice.

 

(u)               “VWAP Purchase Date” means, other than as set forth herein with respect to a Public Offering, with respect
to any VWAP Purchase made hereunder, a Business Day which is at least thirty (30) days following receipt by the Buyer of a valid VWAP
Purchase Notice, on which the Buyer is to buy additional Shares pursuant to Section 1(b) hereof.

 

(v)               “VWAP
Purchase Notice” shall mean an irrevocable written notice from the Company to the Buyer directing the Buyer to buy additional
Shares on the VWAP Purchase Date pursuant to Section 1 hereof at the applicable VWAP Purchase Price, and setting forth the wire instructions
of the Company with regards to the contemplated Share purchase.

 

(w)             
“VWAP Purchase Price” means a the volume weighted average price per share of the Company’s Common
Stock, as reported by the Principal Market, for the twenty (20) trading day period ending on the trading day immediately prior to the
Effective Date or the date of the VWAP Purchase Notice, as applicable.

 

		12.	MISCELLANEOUS.

 

(a)               Governing Law; Jurisdiction; Jury Trial. The corporate laws with regards to the internal affairs doctrine of the
State of Delaware shall govern all issues concerning the relative rights of the Company and its stockholders. All other questions concerning
the construction, validity, enforcement and interpretation of this shall be governed by the internal laws of the State of New York, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in the Borough of Manhattan, City of New York, for the adjudication
of any dispute hereunder or in connection herewith, or with any transaction contemplated hereby, and hereby irrevocably waives, and agrees
not to assert in any Action any claim that it is not personally subject to the jurisdiction of any such court, that such Action is brought
in an inconvenient forum or that the venue of such Action is improper. Each party hereby irrevocably waives personal service of process
and consents to process being served in any such Action by mailing a copy thereof to such party at the address for such notices to it
under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b)              
Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one (1) and the same instrument. Counterparts and any other document required to be executed
and delivered hereunder may be delivered via electronic mail (including .pdf or any electronic signature complying with the U.S. federal
ESIGN Act of 2000 (e.g., www.docusign.com)) or other transmission method and any counterpart or such document so delivered shall be deemed
to have been duly and validly delivered and be valid and effective for all purposes.

 

    -15-

     

    

 

(c)              
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement.

 

(d)               Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity
or enforceability of any provision of this Agreement in any other jurisdiction.

 

(e)              
Entire Agreement. This Agreement supersedes all other prior oral or written agreements between the Buyer,
the Company, their Affiliates and persons acting on their behalf with respect to the matters discussed herein, and this Agreement and
the instruments referenced herein contain the entire understanding of the parties with respect to the matters covered herein and, except
as specifically set forth herein or therein, neither the Company nor the Buyer makes any representation, warranty, covenant or undertaking
with respect to such matters. Each of the Company and the Buyer acknowledge and agree that, with respect to entering into this Agreement,
it has not relied on, in any manner whatsoever, any representations or statements, written or oral, other than as expressly set forth
in this Agreement and the Amended Research Agreement.

 

(f)               
Notices. All notices and other communications between the parties shall be in writing and shall be deemed to have
been duly given: (a) when delivered in person; or (b) when delivered by FedEx or other internationally recognized overnight delivery service,
addressed as follows:

 

If to Gilead:

 

	 	Gilead Sciences, Inc.
	 	333 Lakeside Drive
	 	Foster City, CA 94404
	 	USA
	 	Attention: General Counsel

 

with copies (which shall not
constitute notice) to:

 

	 	Hogan Lovells US LLP
	 	8350 Broad St.
	 	17th Floor
	 	Tysons, VA 22102
	 	USA
	 	Attention: Cullen Taylor

 

If to the Company:

 

	 	Hookipa Pharma Inc.
	 	St Marx Vienna BioCenter: Helmut-Qualtinger-Gasse
    2
	 	1030 Vienna
	 	Austria
	 	Attention: Joern Aldag, Chief Executive Officer

 

with copies (which shall not
constitute notice) to:

 

	 	Goodwin Procter LLP
	 	100 Northern Avenue
	 	Boston, MA 02210
	 	Telephone:	617-570-1000
	 	Facsimile:	617-523-1231
	 	Attention:	Robert Puopolo
	 	Email:	RPuopolo@goodwinlaw.com

 

    -16-

     

    

 

If to the Transfer Agent:

 

	 	American Stock Transfer and Company,
    LLC
	 	6201 15th Avenue
	 	Brooklyn, New York 11219
	 	Telephone:	718-921-8300
	 	Facsimile:	718-765-8719
	 	Attention:	Jennifer Donovan
	 	Email:	JDonovan@astfinancial.com

 

or to such other address or
addresses as the parties may from time to time designate in writing.

 

(g)             
Successors and Assigns. Neither this Agreement nor any of the rights and obligations under this Agreement may be
assigned or delegated, in whole or in part, directly or indirectly, by operation of law or otherwise, by any party hereto without the
prior written consent of the other party hereto, and any such assignment or delegation without such prior written consent shall be null
and void, except that Buyer may assign its rights and delegate its obligations under this Agreement to any of its Affiliates. Subject
to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and
their respective successors and assigns.

 

(h)             
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(i)               
Publicity. The Buyer shall have the right to approve and provide comment before issuance any press release, SEC filing
or any other public disclosure made by or on behalf of the Company whatsoever with respect to, in any manner, the Buyer, its purchases
hereunder or any aspect of this Agreement or the transactions contemplated hereby; provided, however, that the Company shall be entitled,
without the prior approval of the Buyer, to make any press release or other public disclosure (including any filings with the SEC) with
respect to such transactions as is required by applicable law and regulations so long as the Company and its counsel consult with the
Buyer in connection with any such press release or other public disclosure at least one (1) Business Day prior to its release. The Buyer
must be provided with a copy thereof at least one (1) Business Day prior to any release or use by the Company thereof.

 

(j)               
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

    -17-

     

    

 

(k)              
Termination. This Agreement may be terminated only as follows:

 

(i)               
By the Buyer any time an Event of Default exists without any liability to Buyer or any required payment to the Company.

 

(ii)              
By the Buyer if the HOOKIPA suspends, terminates or otherwise ceases to perform under the HIV Development Plan, as defined
in the Amended Research Agreement, other than as provided for in Section 9.6(b) therein .

 

(iii)            
This Agreement shall automatically terminate if (and at such time as) the Buyer exercises its Option pursuant to the Amended
Research Agreement.

 

(iv)             
At any time after the Effective Date, the Company shall have the option to terminate this Agreement for any reason or for
no reason by delivering notice (a “Company Termination Notice”) to the Buyer electing to terminate this Agreement without
any liability whatsoever of either party to the other party under this Agreement. The Company Termination Notice shall not be effective
until one (1) Business Day after it has been received by the Buyer.

 

(v)               This Agreement shall automatically terminate on the date that the Company sells and the Buyer purchases the Equity Commitment
in full as provided herein, without any action or notice on the part of any party and without any liability whatsoever of any party to
any other party under this Agreement.

 

(vi)             
If by the Maturity Date for any reason or for no reason the Equity Commitment under this Agreement has not been purchased
in full as provided for in Section 1 of this Agreement, this Agreement shall automatically terminate on the Maturity Date, without
any action or notice on the part of any party and without any liability whatsoever of any party to any other party under this Agreement.

 

Any termination of this Agreement pursuant
to Section 12(k)(i) (except as otherwise set forth in Section 9), Section 12(k)(ii) or Section 12(k)(iv) shall be
effected by written notice from the Company to the Buyer, or the Buyer to the Company, as the case may be, setting forth the basis for
the termination hereof. The representations and warranties of the Company and the Buyer contained in Sections 2 and 3 hereof,
the indemnification provisions set forth in Section 8 hereof and Section 10, Section 11 and Section 12 shall
survive any termination of this Agreement. No termination of this Agreement shall affect the Company’s or the Buyer’s rights
or obligations under this Agreement with respect to pending purchases and the Company and the Buyer shall complete their respective obligations
with respect to any pending purchases under this Agreement.

 

(l)               
No Financial Advisor, Placement Agent, Broker or Finder. The Company represents and warrants to the Buyer that it
has not engaged any financial advisor, placement agent, broker or finder in connection with the transactions contemplated hereby. The
Buyer represents and warrants to the Company that it has not engaged any financial advisor, placement agent, broker or finder in connection
with the transactions contemplated hereby.

 

(m)             
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.

 

(n)              
Failure or Indulgence Not Waiver. The failure of any party to assert a right hereunder or to insist upon compliance
with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform
any such term or condition by the other party. No waiver shall be effective unless it has been given in writing and signed by the party
giving such waiver. No provision of this Agreement may be amended or modified other than by a written document signed by authorized representatives
of each party.

 

    -18-

     

    

 

(o)              
Interpretation. The terms of this Agreement represent the results of negotiations between the parties and their representatives,
each of which has been represented by counsel of its own choosing, and neither of which has acted under duress or compulsion, whether
legal, economic, or otherwise. Accordingly, the terms of this Agreement shall be interpreted and construed in accordance with the definitions
for such terms provided herein or, if no such definitions are provided, with their usual and customary meanings, and each of the parties
hereby waives the application in connection with the interpretation and construction of this Agreement of any rule of law to the effect
that ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against the party whose
attorney prepared the executed draft or any earlier draft of this Agreement. Any reference in this Agreement to an article, section, subsection,
paragraph, clause, exhibit, or schedule shall be deemed to be a reference to any article, section, subsection, paragraph, clause, exhibit,
or schedule, of or to, as the case may be, this Agreement. Except where the context otherwise requires: (a) any definition of or reference
to any agreement, instrument, or other document refers to such agreement, instrument, other document as from time to time amended, supplemented,
or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or therein); (b)
any reference to any laws refers to such laws as from time to time enacted, repealed, or amended; (c) the words “herein”,
 “hereof”, and “hereunder”, and words of similar import, refer to this Agreement in its entirety and not to any
particular provision hereof; (d) the words “include”, “includes”, and “including” shall be deemed
to be followed by the phrase “but not limited to”, “without limitation”, or words of similar import; (e) the word
 “or” is used in the inclusive sense (and/or), unless explicitly indicated otherwise by the term “either/or”; (f)
the singular shall include the plural, the plural the singular, the use of any gender shall be applicable to all genders; (g) a “party”
includes its permitted assignees or the respective successors in title to substantially the whole of its undertaking; and (h) the exhibits
and schedules to this Agreement form part of the operative provision of this Agreement, and references to this Agreement shall, unless
the context otherwise requires, include references to the exhibits and schedules.

 

(p)              
Expenses. Except as otherwise expressly provided in this Agreement, each party shall pay the fees and expenses of
its respective lawyers and other experts and all other expenses and costs incurred by such party incidental to the negotiation, preparation,
execution, and delivery of this Agreement; provided, that, the Company shall pay any and all expenses, fees and similar costs of
any third parties (i.e., brokers, underwriters, banks, bankers, paying agents, transfer agents, accountants, or similar Persons) incurred
by the Company in connection with the closing of the Initial Equity Purchase and any Second Equity Purchase, Third Equity Purchase, Public
Offering, Concurrent Private Placement or other purchase of Shares by the Buyer hereunder.

 

*             *             *             *             *

 

    -19-

     

    

 

IN WITNESS WHEREOF,
the Buyer and the Company have caused this Stock Purchase Agreement to be duly executed as of the date first written above.

 

	 	THE COMPANY:
	 	 
	 	HOOKIPA PHARMA INC.
	 	 
	 	By:	/s/ Joern Aldag
	 	Name:	Joern Aldag
	 	Title:	Chief Executive Officer
	 	 
	 	BUYER:
	 	 
	 	GILEAD SCIENCES, INC.
	 	 
	 	By:	/s/ Andrew Dickinson
	 	Name:	Andrew Dickinson
	 	Title:	Chief Financial Officer

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