Document:

Exhibit
10.5

 

 

August 5, 2015

 

Douglas
Beck

46 Schenck Avenue 

Great
Neck, New York 11021

 

Dear Mr.
Beck:

 

On
behalf of Relmada Therapeutics, Inc. (the “Company”), I am pleased to provide you with this amendment and restatement
of your employment agreement (the “Agreement”) for the position of Chief Financial Officer.

 

1.            
Position. The terms of your position with the Company are
as set forth below:

 

(a)           You
shall serve as Chief Financial Officer of the Company with such responsibilities, duties and authority as are assigned to
you by the Company Chief Executive Officer, or designee. These responsibilities shall include all activities related with the
financial control and financial management of the Company as well as data management and information technology as defined in
the Schedule A “Duties”. You shall perform such other duties and shall have authority consistent with your
position as may be from time to time specified by the Board of Directors of the Company ("Board") and subject to
the discretion of the Board. You shall report directly to the Chief Executive Officer and shall perform your duties for the
Company at the Company's official place of business in New York City except for travel that may be necessary or appropriate
in connection with the performance of your duties hereunder. 

 

(b)            You agree to devote your best efforts and substantially all of
your business time to advance the interests of the Company and to discharge adequately your duties hereunder. You may hold up
to one board seat on a not-for-profit board that does not represent a conflict with the Company and subject to Board approval
after review of the time commitment involved.

 

2.             Start
Date. You commenced this position with the Company on December 2, 2013 (the “Start Date”) and
the date of this Agreement is August 5, 2015 (the “Effective Date”).

 

3.             Proof
of Right to Work. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence
of your identity and eligibility for employment in the United States.

 

4.             Compensation.

 

(a)               
Base Salary. You will be paid an annual base salary of
two hundred thousand dollars ($200,000), which will be paid in accordance with the Company’s regular payroll practices.
Annually, the Board will review your base salary, with the help of an independent compensation consultant, to adjust your base
salary so as to be competitively aligned to a range between the 25th (twenty-fifth) and 75th (seventy-fifth) percentile of the
relevant market data of CFO positions of similarly situated publicly traded Biotech companies. The Board shall review the amount
of your base salary and performance bonus, and shall determine the appropriate adjustments to each component of your compensation
within 60 days of the start of each calendar year. Notwithstanding the foregoing, you understand and agree that the Board is not
required to increase the Base Salary to such, or any other amount contemplated herein

 

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(b)              
Performance Cash Bonus. You shall be entitled to participate
in an executive bonus program, which shall be established by the Board pursuant to which the Board shall award bonuses to you,
based upon the achievement of written individual and corporate objectives such as the Board shall determine. Upon the attainment
of such performance objectives, in addition to your base salary, you shall be entitled to a cash bonus in an amount to be determined
by the Board with a target of thirty-five percent (35%) of your base salary. Annually, the Board shall establish written individual
and corporate performance objectives and the amount of the performance bonus payable upon the attainment of each objective. At
least thirty (30) days before each subsequent calendar year, the Board shall establish written individual and corporate performance
objectives for such calendar year and the amount of the performance bonus payable upon the attainment of such objectives. Within
sixty (60) days after the end of each calendar year, the Board shall determine the amount of any performance bonus payable
hereunder. Any such performance bonus shall be due and payable within ninety (90) days after the end of the calendar year
to which it relates.

 

(c)               
Stock Option and Restricted Stock Grants. During the Term
of this Agreement, you may also be awarded grants under the Company’s 2014 Stock Option and Equity Incentive Plan, subject
to board approval.

 

5.             Benefits.

 

(d)              
Benefit Plan — Health Insurance, Retirement and Stock
Option Plan. The Company will provide you with the opportunity to participate in the standard benefits plans currently available
to other similarly situated employees. The Company reserves the right to cancel and/or change the benefits plans it offers to
its employees at any time, subject to applicable law.

 

(e)               
Vacation; Sick Leave. You will be entitled to 20 days paid
vacation per year, pro-rated for the remainder of this calendar year and pro-rated by the number of hours worked. Vacation may
not be taken before it is accrued. You will be entitled to 5 days paid sick leave per year pro-rated.

 

(f)               
Other Benefits. The Company will provide you with standard
business reimbursements (including mileage, supplies, long distance calls), subject to Company policies and procedures and with
appropriate receipts. In addition, you will receive any other statutory benefits required by law.

 

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(g)              
Reimbursement of Expenses. You shall be reimbursed for
all normal items of travel and entertainment and miscellaneous expenses reasonably incurred by you on behalf of the Company provided
such expenses are documented and submitted in accordance with the reimbursement policies in effect from time to time.

 

6.             Confidential
Information and Invention Assignment Agreement. You have executed the Company’s Confidential Information and Invention
Assignment Agreement, which remains in full force and effect.

 

7.             At-Will
Employment. The initial term of your employment shall be for a period of one (1) year from the Effective Date; provided
your employment with the Company will be on an “at will” basis, meaning the either you or the Company may
terminate your employment at any time for any reason or no reason, upon written notification to the other party, without
further obligation or liability, except as provided herein. In the event that your employment is terminated because of your death
or Disability, the Company’s only obligation to you shall be to pay earned, but unpaid, base salary (as of the date
of termination) and provide you, if eligible, with the option to elect health coverage under the Consolidated Omnibus
Budget Reconciliation Act of 1985, as amended (“COBRA”); provided that upon termination of your employment
hereunder due to death, your estate also shall be entitled to receive a single lump sum payment equal to three (3) months of
your base salary, payable within 30 days of your death. Upon termination of your employment for Cause (as defined below) you
shall be paid any accrued and unpaid base salary and benefits through the date of termination and shall have no further
rights to any compensation or any other benefits under the Agreement or otherwise.

 

(h)              Termination of Employment Other Than for Cause or Resignation
for Good Reason (Not in Connection with a Change in Control). If the Company terminates your employment other than for Cause
or if you resign for Good Reason, in any case in circumstances other than those described in Section 7(b), you shall be entitled
to the following:

 

(i)             Subject
to Section 8 hereof, a single lump sum payment equal to   six months (6) months of your base salary (at the rate in effect as
of the date of termination), payable in accordance with the Company’s regular payroll practices in effect at the date
of termination, on the first payroll date following the date the Release (as defined in Section 8 hereof) becomes
effective and irrevocable in accordance with its terms.

 

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(ii)             Subject to Section 8 hereof, continued health benefits for the 6-month period beginning on the date of termination, with
such period to run concurrently with any period for which you are eligible to elect health coverage under COBRA. Notwithstanding
the foregoing, you shall be required to pay any and all employee premiums associated with continued health benefits and, if you
become employed by another employer and become covered by such employer’s health benefits plan or program, the continued
health benefits and cash payments provided hereunder shall cease.

 

(iii)             All outstanding equity awards granted to you under the Company’s equity compensation plans shall become immediately
vested and exercisable (as applicable) as of the date of such termination and the performance goals with respect to such outstanding
performance awards, if any, will deemed satisfied at “target”.

 

(i)                 Change
in Control. If the Company terminates your employment other than for Cause or if you resign for Good Reason, in any
case during the 12-month period beginning on the date of a Change in Control (as defined in the 2014 Stock Option and Equity
Incentive Plan, as amended), you shall be entitled to the following:

 

(i)             Subject
to Section 8 hereof, a single lump sum payment equal to twelve month (12) months of your compensation (at the rate in effect as
of the date of termination), payable in accordance with the Company’s regular payroll practices in effect at the date of
termination, on the first payroll date following the date the Release (as defined in Section 8 hereof) becomes effective and irrevocable
in accordance with its terms.

 

(ii)             Subject to Section 8 hereof, continued health benefits for the 12-month period beginning on the date of termination, with
such period to run concurrently with any period for which you are eligible to elect health coverage under COBRA. Notwithstanding
the foregoing, you shall be required to pay any and all employee premiums associated with continued health benefits and, if you
become employed by another employer and become covered by such employer’s health benefits plan or program, the continued
health benefits and cash payments provided hereunder shall cease.

 

(iii)             All outstanding equity awards granted to you under the Company’s equity compensation plans shall become immediately
vested and exercisable (as applicable) as of the date of such termination and the performance goals with respect to such outstanding
performance awards, if any, will deemed satisfied at “target”.

 

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(j)                “Cause” means: (i) willful failure by you to
perform your duties and responsibilities to the Company (or a Successor Company, if appropriate) after written notice thereof
and a failure to remedy such failure within thirty (30) days of such notice; (ii) commission by you of any act of fraud, embezzlement,
dishonesty or any other willful misconduct that has caused or is reasonably expected to cause material injury to the Company (or
a Successor Company, if appropriate), including conviction of a felony; (iii) material unauthorized use or disclosure by you of
any confidential information of the Company (or a Successor Company, if appropriate) or any other party to whom you owe an obligation
of nonuse and nondisclosure as a result of your relationship with the Company (or a Successor Company, if appropriate); or (iv)
material breach by you of any of your obligations under any written agreement with the Company (or a Successor Company, if appropriate)
after written notice thereof and a failure to remedy such breach within thirty (30) days of such notice. “Successor Company”
means the successor entity resulting from a Change of Control or a parent or subsidiary of such successor entity.

 

(k)              
“Good Reason” means: (i) the Company’s
material breach of any of its obligations under this Agreement; (ii) a material reduction by the Company of your base salary or
target bonus opportunity; (iii) a material adverse change in reporting relationship; (iv) an abandonment of, or fundamental change
in, the primary business or primary products of the Company, or (vi) the Company’s regular requirement that you perform
services in or relocate to a location that is more than fifty (50) miles from New York City and not regularly accessible by public
transportation during business hours. A termination of employment will not be deemed to be for Good Reason unless the Company
does not cure within 30 days after receipt of written notice from you specifying the Good Reason and referring to your right to
resign for Good Reason. Any resignation for Good Reason will be effective immediately upon your giving notice of your resignation
for Good Reason to the Company, conditioned upon your having provided proper notice of Good Reason and time to cure in accordance
with this provision.

 

(l)                
“Disability” means that (i) you have been unable,
for a period of 180 consecutive business days, to perform your duties under this Agreement, as a result of physical or mental
illness or injury, and (ii) a physician selected or approved by the Company has determined that it is either not possible to determine
when such inability to perform will cease or that it appears probable that such inability will be permanent during the remainder
of your life.

 

(m)            
Mitigation. In the event that you are entitled to severance
pursuant to this Agreement, you have no duty to mitigate and your severance will not be reduced for any reason.

 

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8.            
Release. Notwithstanding anything contained herein to the
contrary, the Company shall not be obligated to provide any severance payment or benefit under Sections 7(a)(i), 7(a)(ii), 7(b)(i)
or 7(b)(ii) hereof unless: (a) you or your legal representative first executes within 50 calendar days after the date of presentment,
a release of claims agreement in the form as to be provided by the Company (the “Release”) and substantially
similar to the form of Release attached hereto as Exhibit A, (b) you do not revoke the Release, and (c) the Release becomes
effective and irrevocable in accordance with its terms. The Company shall provide the Release to you for your review within ten
(10) days of the date of termination.

 

9.            
Non-Solicitation. You agree that during the term of your
employment with the Company, and for a period of 24 months following the cessation of employment with the Company for any reason
or no reason, you shall not directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees
or consultants to terminate their relationship with the Company, or attempt any of the foregoing, either for yourself or any other
person or entity. For a period of 24 months following cessation of employment with the Company for any reason or no reason, you
shall not attempt to negatively influence any of the Company’s clients or customers from purchasing Company products or
services or to solicit or influence or attempt to influence any client, customer or other person either directly or indirectly,
to direct his or its purchase of products and/or services to any person, firm, corporation, institution or other entity in competition
with the business of the Company.

 

10.             
Arbitration. Any dispute or claim arising out of or in
connection with your employment with the Company (except with regard to enforcement of the Confidentiality Agreement) will be
finally settled by arbitration in New York, New York in accordance with the Commercial Arbitration Rules of the American Arbitration
Association by one arbitrator appointed in accordance with said rules. Judgment on the award rendered by the arbitrator may be
entered in any court having jurisdiction thereof. The parties agree that this Agreement evidences a transaction involving interstate
commerce and that the operation, interpretation and enforcement of this arbitration provision, the procedures to be used in conducting
an arbitration pursuant to this arbitration provision, and the confirmation of any award issued to either party by reason of such
arbitration, is governed exclusively by the Federal Arbitration Act, 9 U.S.C. § 21 et seq. Notwithstanding
the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to
compel arbitration in accordance with this paragraph, without breach of this arbitration provision. The Company shall pay all
fees and expenses for the arbitration itself; provided that the cost of the arbitrator will be equally divided between the parties.
The Company will pay your legal fees, provided that, if you substantially do not prevail, the Company shall be reimbursed for
your reasonable legal fees.

 

11.             
Indemnification. On the date hereof, you have entered into
an Indemnification Agreement with the Company which is attached hereto as Exhibit B.

 

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12.             
Section 280G. In the event it shall be determined that
any payment or distribution by the Company to or for your benefit (whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise) (the “Total Payments”), is or will be subject to the excise tax
(the “Excise Tax”) imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”),
then the Total Payments shall be reduced to the maximum amount that could be paid to you without giving rise to the Excise Tax
(the “Safe Harbor Cap”), if the net after-tax benefit to you after reducing your Total Payments to the Safe
Harbor Cap is greater than the net after-tax (including the Excise Tax) benefit to you without such reduction. The reduction of
the amounts payable hereunder, if applicable, shall be made by reducing such payment that trigger the Excise Tax in the following
order: (i) reduction of cash payments, (ii) cancellation of accelerated vesting of performance-based equity awards (based on the
reverse order of the date of grant), (iii) cancellation of accelerated vesting of other equity awards (based on the reverse order
of the date of grant), and (iv) reduction of any other payments due to you (with benefits or payments in any group having different
payment terms being reduced on a pro-rata basis). All mathematical determinations, and all determinations as to whether any of
the Total Payments are “parachute payments” (within the meaning of Section 280G of the Code), that are required to
be made under this paragraph, including determinations as to whether the Total Payments to you shall be reduced to the Safe Harbor
Cap and the assumptions to be utilized in arriving at such determinations, shall be made at the Company’s expense by the
Company’s then current independent auditors, or such other nationally recognized accounting firm selected by the Committee
prior to the relevant change in control transaction.

 

13.             
Section 409A. 

 

(a)               
In General. It is the Company’s intent that this
Agreement be exempt from the application of, or otherwise comply with, the requirements of Section 409A of the Code (“Section
409A”). Specifically, any taxable benefits or payments provided under this Agreement are intended to be separate payments
that qualify for the “short-term deferral” exception to Section 409A to the maximum extent possible, and to the extent
they do not so qualify, are intended to qualify for the involuntary separation pay exceptions to Section 409A, to the maximum
extent possible. If neither of these exceptions applies, and if you are a “specified employee” within the meaning
of Section 409A, then notwithstanding any provision in this Agreement to the contrary and to the extent required to comply with
Section 409A, all amounts that would otherwise be paid or provided to you during the first six (6) months following your date
of termination shall instead be accumulated through and paid or provided (without interest) on the first business day following
the six-month anniversary of the date of termination. If the period during which the Release must become effective and irrevocable
in accordance with its terms spans two calendar years, then, to the extent required to comply with Section 409A, any payment to
be made under this Agreement will commence on the first payroll date that occurs in the second calendar year and after the Release
has become effective and irrevocable in accordance with its terms. Further, to the extent required to comply with Section 409A:
(i) the amount of any expense reimbursement to which you may be entitled hereunder during a calendar year will not affect the
amount of reimbursements to be provided in any other calendar year; (ii) your right to receive reimbursement of an eligible expense
hereunder is not subject to liquidation or exchange for another benefit; and (iii) provided that the requisite documentation is
submitted, the Company will reimburse your eligible expenses on or before the last day of the calendar year following the calendar
year in which the expense was incurred.

 

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(b)              
Separation from Service. A termination of employment shall
not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits
subject to Section 409A upon or following a termination of employment unless such termination is also a “separation from
service” within the meaning of Section 409A and the Participant is no longer providing services (at a level that would preclude
the occurrence of a “separation from service” within the meaning of Section 409A) to the Company or its Affiliates
as an employee or consultant, and for purposes of any such provision of this Plan, references to a “termination,”
“termination of employment” or like terms shall mean “separation from service” within the meaning of Section
409A.

 

14.             
Attorneys’ Fees. Should either party hereto, or any
heir, personal representative, successor or assign of either party hereto, resort to legal proceedings in connection with this
Agreement or Employee’s employment with the Company, the party or parties prevailing in such legal proceedings shall be
entitled, in addition to such other relief as may be granted, to recover its or their reasonable attorneys’ fees and costs
in such legal proceedings from the non prevailing party or parties.

 

15.             
Assistance in Litigation. Employee shall, during and after
termination of employment, upon reasonable notice, furnish such information and proper assistance to the Company as may reasonably
be required by the Company in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become
a party; provided, however, that such assistance following termination shall be furnished at mutually agreeable times and for
mutually agreeable compensation.

 

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16.             
Miscellaneous. This Agreement, together with the Confidentiality
Agreement, sets forth the terms of your employment with the Company and supersedes any prior representations or agreements, whether
written or oral. This Agreement may not be modified or amended except by a written agreement, signed by the Company and by you.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will be lessened or reduced to the extent possible
or will be severed and will not affect any other provision and this Agreement will be reformed, construed and enforced in such
jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. This Agreement will be governed
by New York law without reference to rules of conflicts of law. All notices, requests, demands and other communications called
for hereunder shall be in writing and shall be deemed given (i) on the date of delivery if delivered personally, (ii) one
(1) day after being sent by a well established commercial overnight service, (iii) three (3) days after being mailed
by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following
addresses, or at such other addresses as the parties may later designate in writing, (iv) upon confirmation of facsimile
transfer, if sent by facsimile or (v) upon confirmation of delivery when directed to the electronic mail address set forth
below, if sent by electronic mail:

 

	 	If
    to the Company:	757 Third
    Avenue, Suite 2018
	 	 	New
    York, NY  10017
	 	 	 
	 	If
    to you:	46
    Schenck Avenue
	 	 	Great
Neck, New York 11021

 

17.             
Withholding of Taxes. The Company may withhold from any
amounts payable under this Agreement all federal, state, city or other taxes as the Company is required to withhold pursuant to
any law or government regulation or ruling.

 

To
indicate your acceptance of this Agreement, please sign and date this letter in the space provided below and return it to me.

 

	Very
    truly yours,	 	ACCEPTED
    AND AGREED:
	 	 	 
	RELMADA
    THERAPEUTICS , INC.	 	DOUGLAS
    BECK
	 	 	 	 
	By: 	/s/
Sergio Traversa	 	/s/
Douglas Beck
	 	Chief
    Executive Officer	 	 
	 	Board
    Member	 	 
	 	 	 	 
	 	Date:  August 5, 2015	 	Date:  August 5, 2015

 

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EXHIBIT
A

 

RELEASE
OF CLAIMS

 

FOR
AND IN CONSIDERATION OF the payments and benefits (the “Separation Benefits”) to be provided to me
in connection with the separation of my relationship with the Company, in accordance with the Agreement between
Relmada Therapeutics, Inc. (the “Company”) and me dated as August 5, 2015 (the
“Agreement”), which Separation Benefits are conditioned on my signing this Release of Claims
(“Release”) and which I will forfeit unless I execute and do not revoke this Release of Claims, I, on my
own behalf and on behalf of my heirs and estate, voluntarily, knowingly and willingly release and forever discharge the
Company, its subsidiaries, affiliates, parents, and stockholders, together with each of those entities’ respective
officers, directors, stockholders, employees, agents, fiduciaries and administrators (collectively, the
“Releasees”) from any and all claims and rights of any nature whatsoever which I now have against them up
to the date I execute this Release, whether known or unknown, suspected or unsuspected. This Release includes, but is not
limited to, any rights or claims relating in any way to my employment or consulting relationship with the Company or any of
the other Releasees or the termination thereof, any contract claims (express or implied, written or oral), including, but not
limited to, the Agreement, or any rights or claims under any statute, including, without limitation, the Americans with
Disabilities Act, the Age Discrimination in Employment Act, the Older Workers’ Benefit Protection Act, the
Rehabilitation Act of 1973 (including Section 504 thereof), Title VII of the 1964 Civil Rights Act, the Civil Rights Act of
1866 (42 U.S.C. § 1981), the Civil Rights Act of 1991, the Equal Pay Act, the National Labor Relations Act, the Worker
Adjustment and Retraining Notification Act, the Family Medical Leave Act, the Lilly Ledbetter Fair Pay Act, the Genetic
Information Non-Discrimination Act, the New York State Human Rights Law, the New York City Human Rights Law, and the Employee
Retirement Income Security Act of 1974, all as amended, and any other federal, state or local law. This Release specifically
includes, but is not limited to, any claims based upon the right to the payment of wages, incentive and performance
compensation, bonuses, equity grants, vacation, pension benefits, 401(k) Plan benefits, stock benefits or any other employee
benefits, or any other rights arising under federal, state or local laws prohibiting discrimination and/or harassment on the
basis of race, color, age, religion, sexual orientation, religious creed, sex, national origin, ancestry, alienage,
citizenship, nationality, mental or physical disability, denial of family and medical care leave, medical condition
(including cancer and genetic characteristics), marital status, military status, gender identity, harassment or any other
basis prohibited by law.

 

    	A-1

    	 

    

 

 

 

As
a condition of the Company entering into this Release, I further represent that I have not filed against the Company or any of
the other Releasees, any complaints, claims or lawsuits with any arbitral tribunal, administrative agency, or court prior to the
date hereof, and that I have not transferred to any other person any such complaints, claims or lawsuits. I understand that by
signing this Release, I waive my right to any monetary recovery in connection with a local, state or federal governmental agency
proceeding and I waive my right to file a claim seeking monetary damages in any arbitral tribunal, administrative agency, or court.
This Release does not: (i) prohibit or restrict me from communicating, providing relevant information to or otherwise cooperating
with the U.S. Equal Employment Opportunity Commission or any other governmental authority with responsibility for the administration
of fair employment practices laws regarding a possible violation of such laws or responding to any inquiry from such authority,
including an inquiry about the existence of this Release or its underlying facts, or (ii) require me to notify the Company of
such communications or inquiry. Furthermore, notwithstanding the foregoing, this Release does not include and will not preclude:
(a) rights or claims to vested benefits under any applicable retirement and/or pension plans; (b) rights under the Consolidated
Omnibus Budget Reconciliation Act of 1985 (“COBRA”); (c) claims for unemployment compensation; (d) rights to
defense and indemnification, if any, from the Company for actions or inactions taken by me in the course and scope of my employment
with the Company and its parents, subsidiaries and/or affiliates; (e) any rights I may have to obtain contribution as permitted
by law in the event of entry of judgment against the Company as a result of any act or failure to act for which I and the Company
are held jointly liable; (f) the right to any equity awards that vested prior to or because of the termination of my employment,
and/or (g) any actions to enforce the Agreement.

 

Nothing
herein shall be construed to limit my right to (1) respond accurately and fully to any question, inquiry or request for information
when required by legal process; or (2) disclose information to regulatory bodies. I understand that I am not required to contact
the Company before engaging in such communications.

 

I
acknowledge that, in signing this Release, I have not relied on any promises or representations, express or implied, other than
those that are set forth expressly herein or in the Agreement and that are intended to survive separation from employment, in
accordance with the terms of the Agreement.

 

I
further acknowledge that:

 

	 	1.	I first received
    this Release on the date of the Agreement to which it is attached as Exhibit A;

	 	2.	I
    understand that, in order for this Release to be effective, I may not sign it prior to the date of my separation of employment
    with the Company but that if I wish to receive the Separation Benefits, I must sign and return this Release within 45 days
    of its presentation to me after my Termination of Employment;

	 	3.	I
    have carefully read and understand this Release;

	 	4.	The
    Company advised me to consult with an attorney and/or any other advisors of my choice before signing this Release;

	 	5.	I
    understand that this Release is LEGALLY BINDING and by signing it I give up certain rights;

 

    	A-2

    	 

    

 

 

 

	 	6.	I
    have voluntarily chosen to enter into this Release and have not been forced or pressured in any way to sign it;

	 	7.	I
    acknowledge and agree that the Separation Benefits are contingent on execution of this Release, which releases all of my claims
    against the Company and the Releasees, and I KNOWINGLY AND VOLUNTARILY AGREE TO RELEASE the Company and the Releasees
    from any and all claims I may have, known or unknown, in exchange for the benefits I have obtained by signing, and that these
    benefits are in addition to any benefit I would have otherwise received if I did not sign this Release;

	 	8.	I
    have seven (7) days after I sign this Release to revoke it by notifying the Company in writing. The Release will not become
    effective or enforceable until the seven (7) day revocation period has expired;

	 	9.	This
    Release includes a WAIVER OF ALL RIGHTS AND CLAIMS I may have under the Age Discrimination in Employment Act of 1967
    (29 U.S.C. §621 et seq.); and

	 	10.	This
    Release does not waive any rights or claims that may arise after this Release becomes effective, which is seven (7) days after
    I sign it, provided that I do not exercise my right to revoke this Agreement.

 

Intending
to be legally bound, I have signed this Release as of the date written below.

 

	Signature:
    	 	 	Date Signed: 	 

 

    	A-3

    	 

    

 

 

 

EXHIBIT
B

 

INDEMNIFICATION
AGREEMENT

 

 B-1Exhibit 10.6

 

ADVISORY AND CONSULTING AGREEMENT

 

This Advisory and Consulting Agreement (“Agreement”)
dated August 4, 2015 and effective June 30, 2015 (the “Effective Date”) by and between Relmada Therapeutics,
Inc., a Nevada corporation with a business address at 757 Third Avenue, 14 Floor, New York, NY 10017, U.S.A. (“Relmada”
or the “Company”), and Sandesh Seth (“Consultant”).

 

WHEREAS, Consultant is currently
the Chairman of the Board of the Company and has substantial experience in, among other matters, business development, corporate
planning, corporate finance, strategic planning, investor relations and public relations, and an expensive network of connections
spanning the biopharmaceutical industry, accounting, legal and corporate communications professions;

 

WHEREAS, Relmada desires that Consultant
provide advisory and consulting services to assist Relmada with strategic advisory services, assist in prioritizing product development
programs per strategic objectives, assist in recruiting of key personnel and directors, corporate planning, business development
activities, corporate finance advice, and assist in investor and public relations services (collectively referred to as the “Services”);
and

 

WHEREAS, Consultant has the requisite
knowledge and experience to provide the Services;

 

NOW, THEREFORE, Relmada and Consultant
agree as follows:

 

	1.	Activities. The Services shall be conducted according to the scope set forth herein.

 

	2.	Project Materials and Consultant Services.

 

		2.1	Relmada will from time to time provide Consultant with access to product information and documents,
as well as reports and experimental data and other information, so as to enable Consultant to provide the Services.

 

		2.2	Consultant agrees to communicate to Relmada, its designees, successors, legal representatives or
assigns, any facts or other information known to Consultant relating to the Services.

 

	3.	Reasonable Efforts. Consultant
agrees to use all reasonable efforts to provide the Services required under this Agreement within a reasonable time period. 
Consultant shall perform the Services conscientiously and in a professional manner, and devote his best efforts and abilities thereto.
Consultant shall observe all policies and procedures of the Company, and such other directives as may be promulgated from time
to time by the Company’s officers or board of directors.

 

	4.	Compliance with Laws. The Services will be provided in accordance with, and Consultant will comply with, all federal,
state, and local laws and regulations applicable to the Services.

 

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	5.	Payments and Expenses

 

		5.1.	Service Fee. In consideration of the Services to be performed under this Agreement,
Relmada shall provide compensation to Consultant for his activities hereunder in the amount of Twelve Thousand five Hundred Dollars
($12,500) per month (“Service Fee”). The Service Fee shall be
payable on the first business day of each month during the term of the Agreement

 

		5.2.	Expenses. In addition to the Service Fees referenced in paragraph 5.1 above, Relmada
will reimburse Consultant for reasonable and customary travel, lodging and out-of-pocket expenses incurred in connection with the performance of the Services.

 

	6.	Independent Contractor.  Consultant's relationship to Relmada under this Agreement shall be that of an independent
contractor and not an agent, joint venturer, or partner of Relmada. Consultant will be responsible
for all applicable federal, state and local withholding taxes and unemployment taxes, as well as social security, state disability
insurance, workers’ compensation and all other payroll charges payable to, or on behalf of, Consultant.

 

	7.	Effective Date and Term.
 The initial term of this Agreement shall begin on the Effective Date and shall continue for twelve (12) months thereafter
(the “Initial Term”) unless earlier terminated pursuant to this Section 6. At the expiration of the Initial
Term, the term of this Agreement shall automatically renew for successive thirty (30) day periods (the Initial Term and all such
renewal periods, the “Term”) unless written notice of non-renewal is provided by one party to the other at least
thirty (30) days prior to the applicable renewal date.

 

	9.	Termination. Either party (Relmada or Consultant) may terminate this Agreement upon
90 days written notice to the other party. Paragraphs 10, 11, 12, 13 and 16 of this Agreement shall survive any termination of
this Agreement.

 

	10.	Data and Reporting. All written materials, comments, critiques, conclusions, data,
analyses, models, graphs, equations, statistical methodologies and other relevant information generated or utilized by Consultant
during and pursuant to performing the Services will be promptly and fully disclosed to Relmada, and shall be freely usable in all
respects by Relmada consistent with good business judgment and in Relmada’s sole discretion. Subject to the provisions of
Paragraph 11 below, Consultant shall be free to maintain a single archival copy of all materials generated by Consultant and related
to the Services.

 

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	11.	Confidential Information.

 

	 	11.1.	"Confidential Information" means all information provided by or on behalf of Relmada to Consultant or generated by Consultant
during and pursuant to performing the Services hereunder, whether in written or oral form.

 

	 	11.2.	Consultant shall use the Confidential Information solely for the purpose of performing the Services pursuant to this Agreement.
Consultant shall keep all Confidential Information in confidence, and shall not disclose the Confidential Information to anyone.
Consultant shall not disclose any Confidential Information (including
through lecture, presentation, manuscript, abstract, poster or any other publication) without prior written authorization from
Relmada. This provision shall remain in effect for five (5) years following the termination of this Agreement. 

 

		11.3.	Specifically excepted from the definition of Confidential Information is all information that:

 

		a)	is already known by Consultant at the time of disclosure by Relmada as demonstrated by prior written
records, and that is not the subject of a separate confidentiality agreement between Relmada and Consultant; or

 

		b)	is already available or becomes available in print or other tangible form to the public through
no fault of the Consultant;

 

		c)	is received by the Consultant from a third party who has the right to disclose it, and who did
not receive it, directly or indirectly, from Relmada; or

 

		d)	is independently developed by Consultant without use of, reference to or reliance on in any manner
whatsoever the Confidential Information or any information that is the subject of a separate confidentiality agreement between
Relmada and Consultant.

 

	 	11.4.	Consultant agrees not to make copies of any Relmada disclosures or other Confidential Information other than those copies required
by Consultant to perform the Services pursuant to this Agreement. Upon
Relmada’s request, Consultant shall return to Relmada all such information, including any copies thereof.

 

		11.5.	In the event that any Confidential Information is required to be disclosed pursuant to any judicial
or government request, requirement or order, Consultant shall take reasonable steps to provide Relmada with sufficient prior notice
in order to allow Relmada to contest such request, requirement or order. In such event, Consultant will cooperate reasonably with
Relmada, at Relmada’s expense, in seeking confidential treatment of such requested or compelled disclosure.

 

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	12.	Indemnification and Insurance. Relmada agrees to indemnify, hold harmless and defend
Consultant against any and all claims, suits, losses, damages, costs, fees, and expenses asserted by the Company (including its officers, directors, employees,
subsidiaries, affiliates and shareholders), third parties, both government
and non-government, resulting from or arising out of this Agreement. Relmada shall maintain in force at its sole cost and expense
insurance of a type and in an amount reasonably sufficient to protect against liability hereunder. Consultant shall have the right
to request the appropriate certificates of insurance from Relmada for the purpose of ascertaining the sufficiency of such coverage.

 

	13.	Notice. Any notice or other communication required or permitted under this Agreement
shall be in writing and will be deemed given as of the date it is received by the receiving party. Notice shall be given to the
parties at the addresses listed below:

 

	 	As to Consultant:	Sandesh Seth
	 	 	244 Fifth Avenue 
	 	 	2nd Floor, Suite 5217
	 	 	New York, NY  10001
	 	 	 
	 	As to Relmada:  	Relmada Therapeutics, Inc.
	 	 	757 Third Avenue, Suite 2018 
	 	 	New York, NY 10017     
	 	 	Attn: Sergio Traversa, CEO

 

	14.	Modification. Any alteration, modification, or amendment to this Agreement must be
in writing and signed by both parties.

 

	15.	Assignment. Neither
party may not assign any of its rights or obligations under this Agreement without the prior written consent of the other party.

 

	16.	Applicable Law. This Agreement will in all respects be governed by, and interpreted, construed and enforced in accordance
with, the laws of the State of New York. The parties further agree that any action or proceeding arising out of or in connection
with this Agreement will be venued in a federal or state court of appropriate venue and subject matter jurisdiction located in
the borough of Manhattan, State of New York. Each party hereto irrevocably consents to the personal jurisdiction of the courts
in the State of New York.

 

	17.	Waiver. No waiver of any term, provision or condition of this Agreement, whether
by conduct or otherwise in any one or more instances, shall be deemed to be, or be construed as, a further or continuing waiver
of any such term, provision, or condition, or of any other term, provision or condition of this Agreement. 

 

	18.	Entire Agreement. This Agreement, together with all Exhibits, constitutes the entire agreement between the parties
with respect to the subject matter contained herein. This Agreement supersedes all prior understandings and agreements between
the parties with respect to the subject matter contained herein. This Agreement and the rights and obligations set forth herein
may not be modified, amended or waived, whether in whole or in part, except by a writing signed by both parties.

 

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WHEREFORE, the parties hereto
place their hands and seals:

 

	Sandesh Seth	 	RELMADA THERAPEUTICS, INC.
	 	 	 
	/s/ Sandesh Seth	 	By:	/s/ Douglas Beck
	 	 	 	Douglas Beck
	 	 	 	Chief Financial Officer
	 	 	 	 
	Date Executed: August 4, 2015	 	Date Executed: August 4, 2015

  

 

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