Document:

Exhibit 10.6

 

Conditions for Share Awards

 

The following conditions shall apply for the Share Awards.

 

		1.	The Share Awards shall be granted free of charge to the participants as soon as practicable after the annual general meeting.

 

		2.	The Share Awards shall vest gradually over approximately three years, corresponding to three terms up to the date of, whichever
is earliest, (i) the annual general meeting 2022 or (ii) 1 June 2022 (the “Vesting Date”), where each term
equals the period from one annual general meeting up until the day falling immediately prior to the next annual general meeting
or the Vesting Date, as applicable (each such period a “Term”). The Share Awards shall vest with 1/3 at the
end of each Term, provided that the participant is still a Board member of Calliditas Therapeutics on the said date. In addition
to the vesting conditions just stated, the Share Awards are subject to performance vesting based on the development of the Calliditas
Therapeutics share price, in accordance with the vesting conditions below.

 

		3.	The Share Awards are subject to performance vesting based on the development of the Calliditas Therapeutics share price
over the period from the date the Share Awards are allocated (“Grant Date”) up to and including the day before
the Vesting Date. The development of the share price will be measured based on the volume weighted average price of the Calliditas
Therapeutics share on Nasdaq Stockholm for the 10 trading days immediately following the Grant Date and the 10 trading days immediately
preceding the Vesting Date, respectively. In the event Calliditas Therapeutics’ share price has increased by more than 60
percent, 100 percent of the Share Awards shall vest, and should the share price have increased by 20 percent, 33 percent of such
Share Awards shall vest. In the event of an increase of the share price of between 20 and 60 percent, vesting of the Share Awards
will occur linearly. Should the increase of the share price be less than 20 percent, vesting will not occur at all.

 

		4.	The earliest point in time at which vested Share Awards may be exercised shall be the day falling immediately after the
Vesting Date.

 

		5.	Each vested Share Award entitles the holder to receive one share in Calliditas Therapeutics without any compensation being
payable provided that the holder is still a Board member of Calliditas Therapeutics at the relevant time of vesting with the exception
of certain customary “good leaver”-situations (including death and permanent incapacity to complete the assignment
due to illness or accident) and this shall also apply during the first year up until the day of the annual general meeting 2020.

 

		6.	The number of Share Awards will be re-calculated in the event that changes occur in Calliditas Therapeutics’ equity
capital structure, such as a bonus issue, merger, rights issue, share split or reverse share split, reduction of the share capital
or similar measures.

 

		7.	The Share Awards cannot be transferred and may not be pledged.

 

		8.	The Share Awards can be granted by the parent company as well as any other company within the Calliditas Therapeutics group.

 

		9.	In the event of a public take-over offer, asset sale, liquidation, merger or any other such transaction affecting Calliditas
Therapeutics, the Share Awards will vest in their entirety upon completion of such transaction.

 

     

     

    

 

Allocation

 

The number of Share Awards that shall be granted to each
participant shall equal the below amount for the respective participant divided by the volume weighted average price of the Calliditas
Therapeutics share on Nasdaq Stockholm for the 10 trading days preceding the Grant Date.

 

The Share Awards under Board LTIP 2019 shall be awarded in
accordance with the following:

 

		·	Share Awards calculated based on SEK 1,100,000 to the chairman of the board of directors; and

		·	Share Awards calculated based on SEK 400,000 to each of Diane Parks, Hilde Furberg, Thomas Eklund and Lennart Hansson.

 

In any event, Board LTIP 2019 will comprise a total number
of Share Awards which, if all Share Awards are vested in accordance with the vesting conditions above, can entitle to not more
than 70,000 shares in Calliditas Therapeutics.

 

Preparation, administration and the right to amend
the terms of the Share Awards

 

The Remuneration Committee of Calliditas Therapeutics (excluding
any participating member) shall be responsible for preparing the detailed terms and conditions of Board LTIP 2019, in accordance
with the above mentioned terms and guidelines. To this end, the Remuneration Committee (excluding any participating member) shall
be entitled to make adjustments to meet foreign regulations or market conditions, including resolving on cash or other settlement
if deemed favourable for Calliditas Therapeutics based on foreign tax regulations.

 

Preparation of the proposal

 

Board LTIP 2019 has been initiated by the nomination committee
and has been structured based on an evaluation of prior incentive programs and market practice for comparable European (including
Swedish) listed companies.

 

Dilution

 

Assuming a volume weighted average price of the Calliditas
Therapeutics share on Nasdaq Stockholm for the 10 trading days preceding the Grant Date of SEK 46.3, Board LTIP 2019 will comprise
not more than 58,314 shares in total, which corresponds to a dilution of approximately 0.17 percent on a fully diluted basis. Taking
into account also the shares which may be issued pursuant to previously implemented incentive programs in the Company as well as
the proposed incentive program for employees and consultants within the Calliditas Therapeutics-group to the annual general meeting,
the maximum dilution amounts to 9.60 percent on a fully diluted basis. The dilution is only expected to have a marginal effect
on the company’s key performance indicator “Earnings (loss) per share”.

 

Information about Calliditas Therapeutics’ existing
incentive programs can be found in Calliditas Therapeutics’ annual report for 2018, note 9, which is available on the Company’s
website, www.calliditas.se.

 

     

     

    

 

Scope and costs of the program

 

Board LTIP 2019 will be accounted for in accordance with
 “IFRS 2 – Share-based payments”. IFRS 2 stipulates that the Share Awards shall be expensed as personnel costs
over the vesting period and will be accounted for directly against equity. Personnel costs in accordance with IFRS 2 do not affect
the Company’s cash flow. Social security costs will be expensed in the income statement according to UFR 7 during the vesting
period.

 

Assuming a volume weighted average price of the Calliditas
Therapeutics share on Nasdaq Stockholm for the 10 trading days preceding the Grant Date of SEK 46.3, the annual cost for the Board
LTIP 2019, according to IFRS 2, is estimated at approximately SEK 0.45 million pre tax. The estimated IFRS 2 cost has been calculated
with a Monte Carlo simulation. The annual cost for social security contributions is estimated at SEK 0.49 million, based on an
annual increase in the share price of 20 per cent, the aforementioned assumptions and a social security tax rate of 31.42 per cent.
The total annual cost for Board LTIP 2019 during the term of the program, including costs according to IFRS 2 and social security
charges, is therefore estimated to approximately SEK 0.94 million.

 

The total cost of the Board LTIP 2019, including all costs
referred to above and social security charges, is estimated to amount to approximately SEK 2.82 million under the above assumptions.

 

Delivery of shares under Board LTIP 2019

 

In order to ensure the delivery of shares under Board LTIP
2019, the nomination committee proposes that the annual general meeting resolves to issue warrants in accordance with item 14b
below.

 

Proposal regarding issue of warrants (item 14b)

 

In order to ensure the delivery of shares under Board LTIP
2019, the nomination committee proposes that the annual general meeting resolves to issue not more than 70,000 warrants, whereby
the Company’s share capital can increase by not more than SEK 2,800 in accordance with the following:

 

		1.	The right to subscribe for the warrants shall, with deviation from the shareholders’ pre-emptive rights, only vest
with Nefecon AB, a wholly owned subsidiary of Calliditas Therapeutics AB (publ). The reason for the deviation from the shareholders’
pre-emptive rights is the implementation of Board LTIP 2019. Nefecon AB shall be entitled to transfer the warrants to participants
of Board LTIP 2019, or a financial intermediary in connection with the exercise of Share Awards.

 

		2.	The warrants shall be issued free of charge and shall be subscribed for on a subscription list no later than 31 May 2019.
The board of directors may extend the subscription period.

 

		3.	The detailed terms of the warrants are set out in Schedule 1 hereto.

 

		4.	The exercise price for subscription for shares based on the warrants shall correspond to the share’s quota value.

 

		5.	The CEO shall be authorised to make such minor adjustments that may be necessary in connection with the registration of
the new issue.

 

     

     

    

 

		6.	Notification of subscription of shares by the exercise of Warrants can be made from and including the day of registration
of the Warrants with the Swedish Companies’ Office up until and including 31 December 2022.

 

		7.	Shares which are issued following subscription shall entitle to participation in the distribution of profits for the first
time on the nearest record date occurring after the subscription has been exercised.

 

Equity swap agreement with a third party (item 14c)

 

Should the majority requirement for item 14b above not be
met, the nomination committee proposes that the annual general meeting resolves that Board LTIP 2019 shall instead be hedged so
that Calliditas Therapeutics can enter into an equity swap agreement with a third party on terms in accordance with market practice,
whereby the third party in its own name shall be entitled to acquire and transfer shares of Calliditas Therapeutics to the participants.

 

Majority requirements

 

Resolution in accordance with item 14b above requires approval
of at least nine tenths (9/10) of the shares represented and votes cast at the annual general meeting.Exhibit 10.7

Resolution on the
introduction of a long-term incentive program for the Company’s management and key personnel 

The Board of Directors of Calliditas Therapeutics AB (publ) proposes the introduction of a long-term incentive program for the
Company’s management and key personnel (including employees and consultants) in accordance with the following.

 

The Board of Directors proposes that the Extraordinary General
Meeting resolves to implement a long-term incentive program for management and key personnel (including employees and consultants)
in Calliditas (“ESOP 2020”) in accordance with items a–b below.

 

The resolutions under items a–b below are proposed to
be conditional upon each other. Should the majority requirement for item b below not be met, the Board of Directors proposes that
Calliditas shall be able to enter into an equity swap agreement with a third party in accordance with item c below and resolutions
under items a and c shall then be conditional upon each other.

 

ESOP 2020 is a program under which the participants will be
granted, free of charge, stock options to acquire shares in Calliditas (“Options”), subject to vesting over
a three-year period in accordance with the below. The Board of Directors proposes that a maximum of 1,500,000 Options are allocated
to the participants.

 

Proposal regarding adoption of a long-term incentive program
for the Company’s management and key personnel (item a)

 

The rationale for the proposal

 

ESOP 2020 is intended for members of management and key personnel
(including employees and consultants) in Calliditas. The Board of Directors of Calliditas believes that an equity-based incentive
program in the form of stock options is a central part of an attractive and competitive remuneration package in order to attract,
retain and motivate competent members of management and key personnel (including employees and consultants) in Calliditas, and
to focus the participants on delivering exceptional performance which contributes to value creation for all shareholders. The proposed
program is key for the Company’s ability to attract, retain and motivate competent key persons in the US as well as in Europe
in order to scale up the Company’s operations and commercial function to prepare for a potential market launch. Calliditas
is in a critical phase of developing its lead asset Nefecon. During the fourth quarter of 2020, the Company expects to report clinical
data from its phase 3 study NefIgArd and, given positive data, start preparing the filing for market approvals in various markets.
In parallel, the Company needs to start preparations for a commercial launch for Nefecon. This will involve, among many things,
growing the current organization by initiating the recruitment of a full commercial organization in the US. When recruiting experienced
personnel and other key employees in the US and Europe it will be important for Calliditas to be able to offer attractive compensation
terms. A competitive equity-based incentive program will be a key component in order to be able to attract and retain highly skilled
and experienced individuals as Calliditas prepares for the commercial launch.

 

The Board of Directors of Calliditas believes that ESOP 2020
will fortify the alignment of the interests of the participants and the interests of the shareholders. ESOP 2020 is adapted to
the current position and needs of Calliditas. The Board of Directors is of the opinion that ESOP 2020 will increase and strengthen
the participants’ dedication to Calliditas’ operations, improve Company loyalty and that ESOP 2020 will be beneficial
to both the shareholders and Calliditas.

 

     

     

    

 

Conditions for Options

 

The following conditions shall apply for the Options.

		·	The Options shall be granted free of charge to the participants.

		·	The Board of Directors shall resolve upon the allocation of Options
between the date of the Annual General Meeting 2020 and the date of the Annual General Meeting 2021 (with each respective granting
falling on a “Grant Date”). 

		·	Each Option entitles the holder to acquire one share in Calliditas
for a pre-determined exercise price. The exercise price will correspond to 115 per cent of the volume weighted average price of
the Calliditas share on Nasdaq Stockholm during ten trading days preceding the Grant Date.

		·	The Options shall vest over a three-year period, with 20 per cent
on the first anniversary of the Grant Date, with an annual vesting of 40 per cent during the second year after the Grant Date,
and with an annual vesting of 40 per cent during the third year after the Grant Date, and thereafter be exercisable, provided that
the holder, with certain exceptions, still is employed by Calliditas (or, in the case of consultants, still provides services to
Calliditas).

		·	Following the expiry of the vesting period, the Options may be exercised
during a one-year period.

		·	The number of Options shall be subject to customary re-calculation,
for example in the event that changes occur in Calliditas’ equity capital structure, such as a bonus issue, merger, rights
issue, share split or reverse share split, reduction of the share capital or similar measures.

		·	The Options are non-transferable and may not be pledged.

		·	The Options may be granted by the parent company as well as any other
company within the Calliditas group.

		·	In the event of a public take-over offer, significant asset sale,
liquidation, merger or any other such transaction affecting Calliditas, the Options will vest in their entirety following the completion
of a change of control. 

 

Allocation

The right to receive Options shall accrue to up to 40 employees
or consultants of the Company. The Board of Directors may grant Options, on one or several occasions, between the date of the Annual
General Meeting 2020 and the date of the Annual General Meeting 2021. The maximum number of Options that may be allocated to the
participants under ESOP 2020 is 1,500,000.

 

The maximum allocation per individual in each category shall
be 400,000 Options for Category 1 (CEO), 250,000 Options for Category 2 (Management) and 100,000 Options for Category 3 (Other
key personnel and consultants).

 

Preparation, administration and the right to amend the terms
of the Options

The Board of Directors is responsible for preparing the detailed
terms and conditions of ESOP 2020, in accordance with the above-mentioned terms and guidelines. To this end, the Board of Directors
shall be entitled to make adjustments to meet foreign regulations or market conditions, including resolving on cash or other settlement
if deemed favorable for Calliditas based on foreign tax regulations. The Board of Directors may also make other adjustments if
significant changes in Calliditas or its environment would result in a situation where the adopted terms and conditions of ESOP
2020 no longer serve their purpose.

 

Preparation of the proposal

ESOP 2020 has been initiated by the Board of Directors of Calliditas
and has been structured based on an evaluation of prior incentive programs and market practice for comparable European (including
Swedish) listed companies. ESOP 2020 has been prepared by the Remuneration Committee and reviewed by the Board of Directors.

 

Dilution

Subject to certain recalculation conditions, the maximum number
of shares that may be issued under ESOP 2020 is 1,500,000, which corresponds to a dilution of approximately 3.7 per cent on a fully
diluted basis. Taking into account also the shares which may be issued pursuant to already allocated warrants under the Company’s
outstanding incentive programs, the maximum dilution amounts to approximately 9.6 per cent on a fully diluted basis.

 

     

     

    

 

The dilution is expected to have a marginal effect on the Company’s
key performance indicator “Earnings (loss) per share”.

 

Information about Calliditas’ existing incentive programs
can be found on Calliditas’ website, www.calliditas.se/en/, under “Remuneration” as well as in the Company’s
annual report.

 

Scope and costs of the program

ESOP 2020 will be accounted for in accordance with “IFRS
2 – Share-based payments”. IFRS 2 stipulates that the Options shall be expensed as personnel costs over the vesting
period. Personnel costs in accordance with IFRS 2 do not affect the Company’s cash flow. Social security costs will be expensed
in the income statement according to UFR 7 during the vesting period.

 

Assuming a share price at the time of allocation of Options
of SEK 105, an annual increase in the share price of 15 per cent and that all Options are allocated up-front under the assumptions
set out under “Dilution” above, the average annual cost for Calliditas according to IFRS 2 is estimated to approximately
SEK 10.6 million per year before tax. The average annual social security costs over the vesting period are estimated to approximately
a total of SEK 5.4 million, based on the above assumptions, that all Options are fully vested, a vesting period for all Options
of three years and social security costs of 31.42 per cent. It is envisaged that the social security costs associated with ESOP
2020 will be covered by the cash received from the participants at exercise of Options. If necessary, social security costs will
be covered by hedging measures through the issue of warrants (see item b below) which would be exercised by a financial intermediary
in connection with the exercise of the Options. In either case, the social security costs associated with ESOP 2020 will be fully
covered and will hence not affect the Company’s cash flow.

 

The total cost of the ESOP 2020, including all social security
costs, is estimated to amount to approximately SEK 47.9 million under the above assumptions.

 

The costs associated with ESOP 2020 are expected to have a marginal
effect on Calliditas’ key performance indicator “Expenses relating to R&D/operating expenses”.

 

Delivery of shares under ESOP 2020

In order to ensure the delivery of shares under ESOP 2020 and
if necessary for hedging of social security costs, the Board of Directors proposes that the Extraordinary General Meeting resolves
to issue and use warrants in accordance with item b below.

 

Proposal regarding issue of warrants (item b)

In order to ensure the delivery of shares under ESOP 2020, and
for hedging of social security costs, the Board of Directors proposes that the Extraordinary General Meeting resolves to issue
not more than 1,500,000 warrants, whereby the Company’s share capital could be increased by not more than SEK 60,000.

 

The right to subscribe for the warrants shall, with deviation
from the shareholders’ pre-emptive rights, only be granted Nefecon AB, a wholly owned subsidiary of Calliditas Therapeutics
AB (publ). The reason for the deviation from the shareholders’ pre-emptive rights is the implementation of ESOP 2020. Nefecon
AB shall be entitled to transfer the warrants to participants or a financial intermediary in connection with exercise.

 

The warrants shall be issued free of charge. The exercise price
for subscription for shares based on the warrants shall correspond to the share’s quota value.

 

Equity swap agreement with a third party (item c)

Should the majority requirement for item b above not be met,
the Board of Directors proposes that the Extraordinary General Meeting resolves that ESOP 2020 instead shall be hedged through
an equity swap agreement with a third party on terms in accordance with market practice, whereby the third party in its own name
shall be entitled to acquire and transfer shares of Calliditas to the participants.

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