Document:

EX-10.16

 EXHIBIT 10.16 

DISTRIBUTION AND SUPPLY AGREEMENT 

This Distribution and Supply Agreement (this “Agreement”) is entered into as of July 2, 2020, (the
“Effective Date”) by and between American Regent, Inc., a New York corporation having an address at 5 Ramsey Road, Shirley, New York, 11967 (“American Regent”), and CytoDyn, Inc., a
Delaware corporation having an address at 1111 Main Street, Suite 660, Vancouver, Washington 98660 (“CytoDyn”). American Regent and CytoDyn are each referred to herein individually as a
“Party” and together as the “Parties”. 
 RECITALS 

WHEREAS, CytoDyn owns the rights to certain know-how and intellectual property to manufacture
and supply the Product (defined below) in the Territory (defined below); 
 WHEREAS, American Regent has experience in the
distribution, marketing and sale of pharmaceutical products in the Territory; and 
 WHEREAS, CytoDyn desires to grant American
Regent, and American Regent desires to accept, the exclusive license to distribute and sell the Product in the Field (defined below) subject to the terms and conditions of this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the covenants and promises contained in this Agreement, the Parties agree
as follows: 
 1. DEFINITIONS 

Unless specifically set forth herein, the following terms, whether used in the singular or the plural, shall have the respective meanings set
forth below. 
 1.1 “Adverse Event” means any untoward medical occurrence in a patient or clinical
investigation subject who is administered a Product that has at least a reasonably possible causal relationship with the treatment for which a Product is used. An untoward medical occurrence can include any unfavorable and unintended sign (including
an abnormal laboratory finding), symptom or disease temporally associated with the use of a Product and may include a pre-existing condition that worsened in severity after administration of a Product. 

1.2 “Affiliate” means, with respect to any Party, any other Person directly or indirectly controlling or
controlled by, or under direct or indirect common control with, such Party. For purposes of this definition, a Person shall be deemed to “control” any other Person if it owns or controls a sufficient interest in the voting equity (or other
comparable ownership if the other Person is not a corporation) such that it can direct, order or control the actions of such other Person. For the purposes of this Agreement, any company in the Daiichi Sankyo family of companies shall not be
considered an Affiliate of American Regent hereunder. 

 1.3 “Agreement” has the meaning set forth in the
Preamble of this Agreement. 
 1.4 “American Regent” has the meaning set forth in the Preamble of this
Agreement. 
 1.5 “American Regent Indemnitees” means American Regent and each of its
respective Affiliates, subsidiaries, equity holders, directors, managers, officers, employees, trustees, representatives, consultants, sublicensees, agents, successors and permitted assigns. 

1.6 “Applicable Laws” means all applicable statutes, ordinances, regulations, codes, rules, or orders of any kind
whatsoever of any governmental authority in the Territory, including without limitation the Federal Food, Drug, and Cosmetic Act (21 U.S.C. ch. 9 § 301 et seq. (“the Act”)), the Generic Drug Enforcement Act of 1992 (21 U.S.C.
§ 335a et seq.), the Prescription Drug Marketing Act, the Anti-Kickback Statute (42 U.S.C. § 1320a-7b et seq.), the Health Insurance Portability and Accountability Act of 1996, the Federal False
Claims Act (31 U.S.C. §3729-3733), the Department of Health and Human Services Office of Inspector General Compliance Program Guidance for Pharmaceutical Manufacturers, released April 2003, the Antifraud and Abuse Amendment to the Social
Security Act, the AMA guidelines on gifts to physicians, the Securities Act of 1933 and the Securities Exchange Act of 1944 (together with all rules promulgated thereunder (including rules of Official Bodies)) as well as any state laws impacting the
promotion of pharmaceutical products, including any state anti-kickback/fraud and abuse related laws, all as amended from time to time. 

1.7 “Business Day” means any day other than a Saturday, a Sunday, or a day on which banks in the
State of New York are required or authorized to close. 
 1.8 “Change of Control” means with respect to a Party, the
occurrence of any of the following: (a) the sale of all or substantially all of such Party’s (or such Party’s controlling Affiliate’s) assets or business relating to this Agreement; (b) a merger, reorganization or
consolidation involving such Party (or such Party’s controlling Affiliate) in which the voting securities of such Party (or such Party’s controlling Affiliate, as applicable) outstanding immediately preceding thereto cease to represent at
least fifty percent (50%) of the combined voting power of the surviving entity immediately after such merger, reorganization or consolidation; or (c) a Person, or group of Persons, acting in concert acquire, directly or indirectly, more than
fifty percent (50%) of the voting equity securities or management control of such Party (or such Party’s controlling Affiliate, as applicable), in one or a series of related transactions. 

1.9 “Commercially Reasonable Efforts” means exercising such reasonable efforts and diligence in
accordance with a Party’s reasonable business, legal, medical and scientific judgment and accordance with the efforts and resources such Party would use for a pharmaceutical product which is of similar market potential, at a similar stage of
its product life, taking into account the competitiveness of the marketplace, the proprietary position of the product and the profitability of the product. 

  
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 1.10 “Competing Product” means any biopharmaceutical
drug product labeled for treating Coronavirus Disease 2019 (COVID-19) that targets against the CCR5 receptor as an active moiety, alone or in combination with other ingredients and is therapeutically interchangeable with the Product. 

1.11 “Confidential Information” means with respect to a Party all confidential Intellectual
Property and confidential or proprietary information relating to the business and affairs of a Party or any of its Affiliates that are disclosed by or on behalf of a Party to the other Party and all information derived therefrom, including financial
information, business opportunities, information relating to pharmaceutical products of any nature in any form; provided, however, that “Confidential Information” shall not include any information that (a) was
already in the public domain at the time of disclosure; (b) becomes part of the public domain through no action or omission of the receiving Party after disclosure to the receiving Party; (c) was already known to the receiving Party, other
than under an obligation of confidentiality to the disclosing party, at the time of the disclosure by the other Party; (d) was independently discovered or developed by the receiving Party without the use of Confidential Information belonging to
the disclosing Party as shown by pre-existing proof, or (e) was disclosed to the receiving Party, other than under an obligation of confidentiality to which a Third Party was subject, by a Third Party who
had no obligation to the disclosing Party not to disclose such information to others, as shown by independent proof. 
 1.12
“Cost of Goods Sold” means [***]. CytoDyn’s 2020 estimates of Cost of Goods Sold for the Product are set forth in Exhibit A, attached hereto. 

1.13 “CytoDyn” has the meaning set forth in the Preamble of this Agreement. 

1.14 “CytoDyn Indemnitees” means any of CytoDyn and its Affiliates, subsidiaries, equity holders,
directors, managers, officers, employees, trustees, representatives, consultants, sublicensees, agents, successors and permitted assigns. 

1.15 “CytoDyn Product” means a subcutaneous injectable biopharmaceutical drug product that contains
CytoDyn’s Leronlimab (a humanized monoclonal antibody (also known as PRO 140) targeting against the CCR5 receptor) as the only active pharmaceutical ingredient but not labeled for treating COVID-19 sold by the CytoDyn Product Distributor. 

1.16 “CytoDyn Product Distributor” any party, including CytoDyn or a licensed and/or authorized Third Party, commercializing
the CytoDyn Product in the Territory. 
 1.17 “Effective Date” has the meaning set forth in the
Preamble of this Agreement. 
 1.18 “FDA” means the United States Food and Drug Administration or any
successor agency which issues a Regulatory Approval for the Marketing of a Product in the United States. 
 1.19
“Field” means distribution, marketing, offering to sell and selling the Product for the treatment of COVID-19. 

  
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 1.20 “Firm Order” means a binding,
non-cancelable agreement to purchase Product as evidenced by a purchase order, sales acknowledgement or other evidence to purchase Product in writing and delivered to CytoDyn by American Regent and accepted by
CytoDyn in accordance with Section 6.2. 
 1.21 “First Commercial Sale” means with respect to a Product, the first
commercial sale of the Product by American Regent to a Third Party in the Field in the Territory in final dosage form packaged for use by end-users, other than for testing purposes and/or sale for experimental
purposes, promotional purposes, compassionate use programs, named patient programs, test market purposes, or similar purposes. 
 1.22
“current Good Manufacturing Practices” or “cGMP” means at any time the quality systems and good manufacturing practices as set forth in 21 C.F.R. (Parts 210 and 211) and
any other Applicable Laws, directives, rules, regulations, guides and guidance in existence in the Territory at that time. 
 1.23
“Intellectual Property” means all patents, copyrights, trademarks, service marks, service names, trade names, internet domain names, e-mail addresses, applications or
registrations for any of the foregoing, or extensions, renewals, continuations or re-issues thereof, or amendments or modifications thereto, brandmarks, brand names, trade dress, labels, logos, know-how (including the Product Know-How), show-how, technical and non-technical information,
trade secrets, formulae, techniques, sketches, drawings, models, inventions, designs, specifications, processes, apparatus, equipment, databases, research, experimental work, development, pharmacology and clinical data, software programs and
applications, software source documents, Third Party licenses, and any similar type of proprietary intellectual property right vesting in the owner and/or licensee thereof pursuant to the Applicable Laws of any relevant jurisdiction or under any
applicable license or contract, whether now existing or hereafter created, together with all modifications, enhancements and improvements thereto. 

1.24 “Latent Defect” means a defect that existed at the time that title to Product passed to American
Regent which could not have been detected by American Regent utilizing American Regent’s usual and customary inspection procedures for incoming finished product intended for distribution in the Territory, which in any event will be in
accordance with American Regent’s cGMP obligations. 
 1.25 “Losses” has the meaning set forth in
Section 10.1. 
 1.26 “Manufacture” means to make Product in compliance with cGMP, including to
process, prepare, make and Test the raw materials used in the preparation of Product and to Test a Product prior to release for Packaging, filling, packaging, labeling, and preparation of Product for shipment, in each case in a finished dosage form
ready for administration to humans, and “Manufacturing” has a corresponding meaning. 
 1.27
“Market” means to distribute, market, offer to sell and/or sell for purposes of a commercial sale, and “Marketing” has a corresponding meaning. 

  
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 1.28 “NDC Number” means the National Drug Code
number, which is a unique 10-digit, 3-segment number that is a universal product identifier for drugs in the United States that identifies the labeler/vendor, the
product and the trade package size. 
 1.29 “Net Profit” means an amount equal to the [***] of the Product less
(i) the [***], and (ii) the [***]. 
 1.30 “Net Profit Split” [***]. 

1.31 “Net Sales” means the total gross sales of the Product (number of units shipped times the invoice
price per unit) by American Regent, its sub-licensees and Affiliates to independent third party customers, less the following deductions incurred, allowed, paid, accrued, or specifically allocated, to the extent actually taken by such third party
customers on such sales: (a) [***] of gross sales in the Territory to cover cash discounts given by American Regent; (b) reasonable estimates for customary trade discounts, quantity discounts, credits, rebates, charge backs, and fees (including
without limitation those to group purchasing organizations, managed-care entities, wholesalers, and government agencies, including without limitation Medicare and Medicaid); (c) reasonable estimates for allowances or credits to customers on account
of retroactive price reductions or returns (including without limitation wholesaler and retailer returns), billing adjustments, bid defaults, shelf stock adjustments, promotional payments, or other similar allowances affecting the Product or on
account of retroactive price reductions affecting the Product; (d) sales and excise taxes, customs, and any other taxes, all to the extent added to the sale price and paid by the selling party and not refundable in accordance with Applicable
Law and without reimbursement from any third party (but not including taxes assessed against the income derived from such sale); (e) government fees based on the sale of the Product, including any fees due or made pursuant to the Patient Protection
and Affordable Care Act; (f) reasonable estimates for allowances and credits to third parties on account of rejected, damaged, returned or recalled Product; (g) royalties payable to third parties in connection with the sale of the Product
in the Territory; (h) prompt pay discounts paid to customers; and (i) other specifically identifiable amounts that have been credited against or deducted from the Product’s gross sales and are substantially similar to those credits
and deductions listed above. Notwithstanding anything to the contrary, the calculation of Net Sales shall be made in accordance with American Regent’s standard practices for other pharmaceutical products, consistently applied. 

1.32 “Official Body” means any national, federal, state or local government or government of any
subdivision thereof, or any parliament, legislature, council, agency, authority, board, commission, self-regulatory authority, department, bureau or instrumentality thereof, or any court, tribunal, grand jury, mediator or arbitrator, whether foreign
or domestic, in each case having jurisdiction in the relevant circumstances. 
 1.33 “Package” means
to package and label Product for Marketing and “Packaging” has a corresponding meaning. 
 1.34
“Person” means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust,
trustee, executor, administrator or other legal personal representative or other entity or Official Body. 

  
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 1.35 “Product” means a subcutaneous injectable
biopharmaceutical drug product labeled for treating COVID-19 that contains CytoDyn’s Leronlimab (a humanized monoclonal antibody (also known as PRO 140) targeting against the CCR5 receptor) as the only active pharmaceutical ingredient. For
clarity, Product excludes any intravenous or infusible biopharmaceutical drug product. 
 1.36 “Product
Know-How” means the data, information, expertise, trade secrets, manufacturing, mixing and production procedures, technical assistance, and shop rights, known to in the possession of or
licensed to CytoDyn or its Affiliates, whether generally known to others or not, and relating to the Manufacturing, Packaging, Marketing and/or Testing of Product, including: 

(a) characteristics, selection of properties and data relating to materials, such as excipients, used or useful in the Manufacturing, Packaging
and/or Testing of Product; 
 (b) techniques, equipment and methods used or useful in the Manufacturing, Packaging or Testing of Product;

 (c) equipment and data relating to the Manufacturing, Packaging or Testing of Product; and 

(d) all in vivo or clinical, pharmacology, toxicology, safety and efficacy data, formulary submissions, pharmaco-economic data, and
other such information useful or required in preparing applications for or obtaining or maintaining Regulatory Approval and/or for the Manufacturing, Packaging, Marketing and/or Testing of Product. 

1.37 “Product Liability Claim” means any Third-Party claim involving any actual or alleged death or
bodily or emotional injury arising out of or relating to any Product sold in the Territory. 
 1.38 “Product
Technology” means collectively Product Know-How and all other Intellectual Property in or to the Product. 

1.39 “Quality Agreement” means the mutually agreed Quality Agreement to be entered into by and
between American Regent and CytoDyn, or a CytoDyn Affiliate, in accordance with Section 4.4. 
 1.40 “Recall” has the
meaning set forth in Section 5.2(a). 
 1.41 “Regulatory Approval” means all approvals or
authorizations granted by the FDA for the Marketing of a Product in the Territory. 
 1.42 “Regulatory
Requirements” means all applicable Regulatory Approvals, licenses, registrations, cGMPs, and authorizations and all other requirements of the FDA in relation to Product, including each of the foregoing which is necessary for, or
otherwise governs, the Manufacture, Marketing, Packaging and Testing of Product in the Territory. 

  
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 1.43 “Sales, Marketing and Distribution Costs” means [***] to compensate
American Regent for its direct costs associated with selling, marketing and distributing the Product (including the costs of obtaining the NDC Number). 

1.44 “Specifications” means the specific requirement under a Biologics License Application
(“BLA”) approved by the FDA to govern the quality and integrity of the Product, including, but not limited to, procedures, formula, process, testing method, etc. 

1.45 “Supply Interruption” has the meaning set forth in Section 6.4. 

1.46 “Tax(es)” means, with respect to American Regent, all federal, state, local, county, foreign and
other taxes or government charges constituting sales, use, transfer, value added, customs, duty or excise taxes payable by American Regent in connection with the importation or sale of Product. 

1.47 “Term” has the meaning set forth in Section 9.1. 

1.48 “Territory” means the United States of America, including its territories, possessions, districts,
protectorates and commonwealths. 
 1.49 “Test” means to test a product or its ingredients prior to
release for further processing or for shipping and Marketing in compliance with Applicable Law and “Testing” has the corresponding meaning. 

1.50 “Third Party” means any Person, other than CytoDyn, American Regent or their respective Affiliates.

 2. DISTRIBUTION RIGHTS 
 2.1
American Regent Distribution in the Field. 
 (a) Upon and subject to the terms and conditions of this Agreement, and upon FDA approval
of the BLA for the Product in the Field, CytoDyn hereby appoints American Regent as the sole and exclusive authorized distributor in the Field in the Territory, with the right to subcontract to its subcontractors, to sell and distribute the Product
in the Field in the Territory. 
 (b) Under the exclusive appointment set forth in Section 2.1(a), American Regent shall obtain
exclusively from CytoDyn the Product for Marketing in the Field in the Territory. CytoDyn shall exclusively supply the Product (even to CytoDyn itself) to American Regent for Marketing by American Regent in the Field in the Territory in accordance
with the terms of this Agreement. 
 (c) CytoDyn shall not sell, directly or indirectly through a distributor, any Product bearing an
American Regent NDC number. 

  
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 2.2 Retention of Rights. For the avoidance of doubt, CytoDyn retains all rights to
the Product Know-How and Intellectual Property worldwide. CytoDyn retains the right to market, distribute and sell the Product during the Term outside of the Field or outside the Territory, by itself and/or
through its Affiliates and/or Third Parties. 
 2.3 Restrictions on Marketing of Product. From and after the Effective Date,
American Regent shall not Market or export the Product outside the Field in the Territory, or Market or export the Product to any Person who, to the knowledge of American Regent intends, or is likely to, Market or export the Product outside the
Field in the Territory. 
 2.4 Covenant Not to Market Competing Product. From and after the Effective Date and during the Term
of this Agreement, American Regent shall not Market a Competing Product in the Field in the Territory. 
 3. MARKETING 

3.1 Marketing Obligations. American Regent shall, at its sole costs, use Commercially Reasonable Efforts to Market the Product in
the Field in the Territory, including, without limitation, directing the methods of sale and distribution, organization and management of sales and Marketing and pricing in accordance with the terms and conditions of this Agreement. 

3.2 Pricing. 
 (a)
American Regent shall solely set the resale prices for the Product in the Field in accordance with Applicable Laws. American Regent shall be responsible for allowing credit for sales returns in connection with the sale of a Product to its customers
according to its established procedures for other products. American Regent shall have sole responsibility for deciding distribution related decisions, including, but not limited to, issues concerning market launch, final customer pricing and
customer contracts. Within ninety (90) days after the First Commercial Sale, the Parties shall conduct a business review meeting, either in person or telephonically, to discuss market conditions, supply estimates and expected Product trends.

 3.3 NDC Number. American Regent shall submit drug listing information to the FDA with respect to American Regent being the
distributor of the Product. American Regent shall only distribute and sell Product bearing an NDC Number that reflects American Regent as the distributor and seller thereof. Within fourteen (14) days after the Effective Date, or such other time
period mutually agreed by the Parties in writing, American Regent shall obtain an NDC Number for each packaging configuration of the Product. American Regent shall have thirty (30) days after the Effective Date to conduct additional diligence
on the use of its NDC Number on the Product packaging and it may terminate this Agreement with fifteen (15) days written notice in the event it determines that there is an unacceptable risk to American Regent in using its NDC Number. 

  
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 3.4 Rebate; Processing. 

(a) American Regent shall only be responsible for those federal, state and local government and private purchasing, pricing or reimbursement
programs with respect to the Product sold by American Regent, including taking all necessary and proper steps to execute agreements and file other appropriate reports and other documents with governmental and private entities. American Regent shall
be solely responsible for payment and processing of all rebates, whether required by contract or local, state or federal law, for the Product sold by American Regent. 

(b) Upon the written request of American Regent, CytoDyn agrees to provide to American Regent information and data in its possession that
American Regent could not otherwise reasonably obtain but must provide to any state or federal government regulators (including without limitation Centers for Medicare and Medicaid Services) pursuant to government-mandated price reporting
requirements for the Product (such requirements, “Pricing Regulations”, and such information and data, and the similarly required customer information in subsection (c) below, collectively “Compliance
Information”), including, as applicable, aggregate sales and rebate transaction data, average manufacturer price and best price calculations, other data or information regarding sales or pricing (both on and
off-invoice) of the Product or CytoDyn Product, and method(s) used for generating the foregoing information, subject to the following conditions: 

(i) No later thirty (30) days before the end of a calendar quarter, American Regent shall request in writing the required Compliance
Information for that calendar quarter and allow CytoDyn up to fifteen (15) days to provide the requested Compliance Information; 

(ii) American Regent shall use all Compliance Information only for compliance with Pricing Regulations and not any other purpose, particularly
(but not limited to) set or attempt to set its resale price or its rebate, discount or other incentive amount offered to its customers, sub-distributors, suppliers, or competitors of CytoDyn or American
Regent; 
 (iii) American Regent may disclose the Compliance Information only to its employees and agents who are primarily responsible for
American Regent’s compliance with Pricing Regulations (collectively, “Representatives”), in each case who (A) need to know such Compliance Information to perform its Pricing Regulations obligations, (B) are not
involved in any activities related to price setting or negotiation with any other customers, suppliers, or competitors of CytoDyn, and (C) are bound in writing by restrictions regarding disclosure and use of the Compliance Information no less
restrictive than those set forth herein; 
 (iv) American Regent shall be fully liable for any breach of its obligations herein by its
Representatives; and 
 (v) CytoDyn warrants that to its knowledge, all Compliance Information provided to American Regent will be complete
and accurate in all material respects. In the event that American Regent discovers, through a routine audit, reconciliation, its compliance program or otherwise, that any government price reporting has been miscalculated or other data provided to
American Regent regarding the sales or pricing of the Product in the Territory are inaccurate, it shall notify CytoDyn immediately of such circumstance and shall work with CytoDyn to ensure that proper pricing information is provided to American
Regent as soon as possible, but in no event later than thirty (30) days after the end of the calendar quarter in which such inaccuracy is discovered. 

  
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 (c) In the event that American Regent is required to access Compliance Information to
fulfill required reporting obligations pursuant to Pricing Regulations for the Product, and upon written request, CytoDyn shall disclose to American Regent a comprehensive list of customers to whom the CytoDyn Product is directly sold by the CytoDyn
Product Distributor, and CytoDyn shall (i) identify mutual customers (wholesalers or other customers that are buying both the American Regent labeled Product from American Regent and the CytoDyn Product from the CytoDyn Product Distributor, and
(i) ensure that such mutual customers are segregating the CytoDyn Product from the Product sold by American Regent. Such customer information shall also be Compliance Information hereunder. If American Regent reasonably believes that any mutual
customers are charging American Regent fees for services contemplated in any agreements between a mutual customer and the CytoDyn Product Distributor, the Parties shall cooperate to confirm such, and in such a case, American Regent shall not be
responsible for paying such fees for service. Rather, the CytoDyn Product Distributor shall work with American Regent to promptly correct such invoices and, if not corrected, the CytoDyn Product Distributor shall be responsible for all outstanding
customer fees related to its sales of the American Regent labeled Product. 
 (d) With respect to rebates that American Regent is obligated
to pay pursuant to any government (Federal Medicaid or state assistance) rebate programs for amounts charged to an American Regent NDC Number (“Government Rebates”), American Regent shall be responsible for the processing, handling and
payment of all such Government Rebates relating to the Products labeled with an American Regent NDC Number. American Regent shall not be responsible for any reporting obligations associated with the CytoDyn Product. 

(e) For the avoidance of doubt, (i) the CytoDyn Product Distributor shall assume all obligations to honor and fulfill the payment of
chargeback claims, administrative fees, indirect sales rebates, and all other rebates or fees associated with an indirect sale of the CytoDyn Product through a wholesaler outside the Field with respect to Products labeled with the CytoDyn Product
Distributor’s NDC Number; (ii) the CytoDyn Product Distributor shall be responsible for all required government reporting of CytoDyn Product sold by the CytoDyn Product Distributor; and (iii) all other payments made to customers for
sales of the CytoDyn Product sold by the CytoDyn Product Distributor, or audits submitted from customers, shall be the sole responsibility of the CytoDyn Product Distributor. 

3.5 Promotional Materials. American Regent shall not use any promotional materials in connection with the marketing, sale or
distribution of the Product without CytoDyn’s prior written approval other than (a) the labeling for the Product approved by CytoDyn in accordance with Section 6.5, and (b) after the First Commercial Sale, introduction
announcements to the trade, bill sheets and American Regent’s on-line product catalog; provided that any such promotional materials shall not contain any information other than the name of the Product,
the available packaging configurations, and pricing and delivery terms. CytoDyn shall not make any statement that is inconsistent with the information contained in (a) or (b) in this Section. For purposes of this Agreement, “promotional
materials” means all labeling and advertising materials as defined in the Act and the regulations of the FDA thereunder. 

  
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 3.6 Sampling. American Regent shall not distribute any samples of the Product to any
Third Party. 
 3.7 Reports. CytoDyn shall promptly keep American Regent fully informed of all governmental and
regulatory requirements, activities and plans of the FDA including any changes thereto of which it becomes aware which materially affect, or are reasonably likely to materially affect, the sales or distribution of the Product in the Field in
the Territory. 
 4. REGULATORY MATTERS 

4.1 Regulatory Responsibilities. CytoDyn will, at its own cost, continue to own and maintain the applicable Regulatory
Approvals necessary to Market the Product in the Territory. CytoDyn shall be responsible for all regulatory and safety reporting requirements associated with ownership of the Regulatory Approvals, including without limitation, Adverse Event
reporting and annual reporting and pharmacovigilance activities in the Territory. American Regent shall assist CytoDyn at its sole expense by providing customer service, complaint handling and pharmacovigilance systems to support commercialization
of the Product as set forth in Section 4.3. The Parties shall bear their own costs associated with the regulatory and safety reporting. 

4.2 Pricing. American Regent shall be responsible for dealing with pricing issues relating to price ceilings and reimbursement
for the Product in the Field and it shall share such decisions and related information with CytoDyn. American Regent shall be responsible for all government price reporting for sales of the Product in the Field. 

4.3 Monitoring Adverse Events and Quality Complaints. Both Parties shall comply fully with all applicable Adverse Event
reporting recommendations under Applicable Laws and agree to exchange such information as may be necessary to achieve that end and to ensure that both Parties are completely informed regarding Adverse Events with the Product, provided that CytoDyn,
as the owner of the BLA for the Product, shall be solely responsible for all medical questions for the Product and for all Adverse Event reporting to the FDA in relation to the Product. In order to enable CytoDyn to comply with its regulatory
reporting responsibilities, American Regent shall use reasonable efforts to inform CytoDyn of all adverse events as promptly as practical, but no later than forty-eight (48) hours of receiving information on such Adverse Event and at such time
shall forward to CytoDyn all Adverse Event information received by it and all other information as required by CytoDyn by notice in writing to American Regent. The Parties shall negotiate in good faith and use Commercially Reasonable Efforts to
enter into a mutually agreed Safety Data Exchange Agreement promptly after the Effective Date which will set out the policies, procedures and standards by which the Parties will coordinate and implement the pharmacovigilance procedures. 

4.4 Quality Agreement. The Parties shall negotiate in good faith and use Commercially Reasonable Efforts to enter into the
Quality Agreement promptly after the Effective Date which Quality Agreement will set out the policies, procedures and standards by which the Parties and any Affiliates will coordinate and implement the operation and quality assurance activities and
regulatory compliance objectives contemplated under this Agreement with respect to Product. To the extent there are any inconsistencies or conflicts between this Agreement and the Quality Agreement, the terms and conditions of this Agreement shall
control unless specifically otherwise agreed to in writing by the Parties. 

  
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 4.5 Cooperation. Without limiting the foregoing, each of CytoDyn and American
Regent shall provide to each other in a timely manner all information which the other Party reasonably requests regarding the Product in order to enable the other Party to comply with all Applicable Laws applicable to the Product in the Territory.
Each of CytoDyn and American Regent shall provide to the other or if applicable, directly to the FDA, any assistance and all documents reasonably necessary to enable the other to carry out its obligations under this Article 4. In general, requests
for cooperation should be responded to by the other Party within three (3) Business Days and both should make responsible efforts to ensure cooperation is maintained to ensure completion of the given project. 

5. PRODUCT QUALITY AND PRODUCT RECALLS 

5.1 Product quality inquiries other than Adverse Events. 

(a) Each Party shall submit to the other Party, within forty-eight (48) hours of receipt any complaints or issues that question Product
quality (other than Adverse Events) received by that Party or any of its Affiliates or, in the case of American Regent, to which that Party must respond, together with all evidence then available and all other information relating thereto
subsequently obtained or produced by either Party. 
 (b) Each of American Regent and CytoDyn shall promptly notify the other of any notice
of non-compliance with any Applicable Laws applicable to Product or the Packaging of Product, received from any Official Body, and of any request for or initiation of any inspection of any facility of either
CytoDyn or American Regent, or any Affiliate of CytoDyn or American Regent. 
 5.2 Product Recall. 

(a) CytoDyn shall be responsible, at its sole expense, for serialization of the Product. American Regent, at its sole expense, will maintain or
cause to be maintained such records of its sales of the Product, as are necessary to permit a recall, market withdrawal or field correction of a Product including any inventory withdrawal in connection with any of the foregoing (each a
“Recall”). 
 (b) Each Party shall promptly (but in any case, not later than twenty-four (24) hours of
receipt) notify the other Party in writing of any information which indicates a Recall of any Product may be necessary, any safety or regulatory concerns, or any order, request or directive of a court or the FDA requesting or requiring a Recall.

 (c) To the extent permitted by circumstances, the Parties will confer before initiating any Recall. If the Parties do not agree on the
need for or the extent of such a Recall, either Party may authorize the Recall. 

  
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 (d) With respect to Recalls agreed on by both Parties, American Regent shall manage, in
accordance with CytoDyn’s oversight and direction, the carrying out of such Recalls of Product sold by it in accordance with Applicable Laws. In the event CytoDyn materially impedes American Regent’s efforts to Recall the Product, American
Regent shall have the right to terminate this Agreement with [***] written notice to CytoDyn. 
 (e) If any Recall is required primarily and
substantially because of failure of a Product to conform to the Specifications already existing at the time title is transferred to American Regent or as a result of a material breach of CytoDyn’s obligations, as confirmed by a mutually
acceptable Third Party laboratory, including a Latent Defect that is shown to have existed at the time of such title transfer, CytoDyn will be responsible for only the direct costs of such Recall (including reimbursement to American Regent and its
Affiliates for their direct, out-of-pocket costs and expenses incurred during such Recall). In such event, CytoDyn shall supply to American Regent free of cost and
expense replacement Product for any removed Product. 
 (f) If any Recall is required primarily or substantially because of failure of a
Product to conform to the Specifications after title is transferred to American Regent or in circumstances caused by the negligence, mistake, fault, error or omission of American Regent, its Affiliates or subcontractors, including any breach by
American Regent of a representation, warranty or covenant hereunder, American Regent will be responsible for the direct costs of such Recall (including reimbursement to CytoDyn and its Affiliates for all of their direct out-of-pocket costs and expenses incurred during such Recall) and the Transfer Price of all Products removed from American Regent’s inventory. 

(g) If any Recall is required under circumstances not covered in Section 5.2(e) or (f) above, the Parties will equally share the
direct costs of such Recall, including direct out-of-pocket costs and expenses related to such Recall. 

(h) Without limiting the foregoing, each Party will cooperate fully with the other Party in connection with any Recall efforts. 

6. PURCHASE PRICE AND SUPPLY OF PRODUCT 

6.1 Supply of Product. 

(a) CytoDyn will be responsible for the Manufacture of the Product. American Regent shall purchase from CytoDyn all of American Regent’s
requirements for the Product in the Territory during the Term, pursuant to Firm Orders submitted by American Regent to CytoDyn from time to time in accordance with Section 6.2. 

(b) CytoDyn shall supply all Product to American Regent for distribution in the Territory in the Field during the Term in full and on time, and
in accordance with the terms and conditions of this Agreement. 
 (c) The terms and conditions of this Agreement shall control the
Manufacture and supply of Product by CytoDyn to American Regent, and no terms or conditions contained in any purchase order, acknowledgment, invoice, bill of lading, acceptance or other pre-printed form issued
by any Party shall have any force or effect to the extent they are inconsistent with or modify the terms and conditions of this Agreement. 

  
 13 

 6.2 Forecasts, Orders. 

(a) Initial Firm Orders. Within [***] after FDA approval of the BLA for a Product, American Regent shall deliver to CytoDyn its initial
six (6)-month order for delivery of the Product. Within [***] of CytoDyn’s receipt of the initial order, CytoDyn shall notify American Regent whether it accepts or rejects such initial order (in its discretion) and the applicable Transfer Price
and, in case of rejection, CytoDyn shall notify American Regent of the quantities of a Product that CytoDyn can accept for such initial order and the applicable Transfer Price. Once CytoDyn accepts the initial order, such initial order shall be
construed as the “Initial Firm Order.” 
 (b) No Forecasts. American Regent shall not be required to provide
forecasts for the supply of the Product in the Field. It shall purchase Product by providing Purchase Orders. Notwithstanding the foregoing, the Parties shall meet and confer at least once every calendar month to discuss the business issues
generally related to the supply and Marketing of the Product (including anticipated demand and supply of Products). 
 (c) Firm
Orders. American Regent shall place orders for a Product in writing (each a “Purchase Order”) and CytoDyn shall, within ten (10) Business Days of receipt of a Purchase Order, confirm in writing whether a given Purchase
Order has been accepted and the Transfer Price applicable to such Purchase Order. CytoDyn shall use Commercially Reasonable Efforts to accept all Purchase Orders which are provided to CytoDyn in accordance with the terms and conditions of this
Agreement. All accepted Purchase Orders are Firm Orders. 
 (d) Delivery Against Firm Orders. Delivery on each Firm Order, including
the Initial Firm Order, will take place [***] after CytoDyn has provided written notice to American Regent that such Firm Order has been accepted. CytoDyn shall deliver against each such Firm Order in accordance with this Section 6.2 (including
with respect to the delivery dates and quantities set forth therein); provided that notwithstanding anything to the contrary contained herein (a) CytoDyn shall have satisfied its obligations with respect to delivery date if the actual delivery
date is [***] of the desired delivery date set forth in the applicable Firm Order (or such other date as agreed to by the Parties), and (b) CytoDyn shall have satisfied its obligations with respect to quantity of Product if the actual quantity
of Product Manufactured and supplied is within plus or minus [***] of the quantity of Product set forth in the applicable Firm Order. 

(e) Terms and Conditions of Firm Orders. Each Firm Order shall be in the form acceptable to CytoDyn and shall specify (a) the
quantities and format (if applicable) of Product ordered, (b) shipping instructions and destination(s), and (c) the requested date of delivery (provided that there shall be no more than one (1) delivery date in any thirty one (31)-day period and the delivery date is consistent with the provisions of Section 6.2(g) herein). Firm Orders shall not be made in any other form of document other than that prescribed by this Agreement unless
the Parties mutually agree otherwise in writing. Any term or condition of a Firm Order that is different from or contrary to the terms and conditions of this Agreement shall be void. Except as contemplated herein, all Firm Orders shall be non-cancelable by either Party and American Regent shall be obligated to pay the Transfer Price for the Product supplied to American Regent. CytoDyn agrees to use its commercially reasonable efforts to comply with
unplanned changes in Firm Orders. 

  
 14 

 (f) Maximum Capacity. Subject to a schedule to be agreed upon by the Parties at the
time of the Initial Firm Order, CytoDyn will use Commercially Reasonable Efforts to supply the Product in accordance with its current manufacturing capacity and operational strategy and it shall be entitled to reject any portion of a Firm Order that
CytoDyn believes will exceed its anticipated maximum capacity for a given calendar year set forth in the applicable schedule (when aggregated with all prior Firm Orders previously submitted for such calendar year). 

6.3 Continuity of Supply. If CytoDyn is unable to supply any Product to American Regent pursuant to
Section 6.2 for thirty (30) days or more after the anticipated date of delivery specified in a Firm Order, to the location specified therein, or if CytoDyn is unable to deliver on a timely basis at least [***] of the
amount covered by Firm Orders issued by American Regent pursuant to Section 6.2(d) for [***] or more consecutive orders, (whether as a result of cGMP issues, a Force Majeure event, failure to meet quality standards, or otherwise) (individually
or collectively a “Supply Interruption”), then at any time such Supply Interruption is continuing and CytoDyn holds less than one week of any dosage of saleable Product inventory, American Regent may declare a Supply Interruption by
providing CytoDyn with a notice that a Supply Interruption has occurred. In the event that circumstances arise that may give rise to a potential Supply Interruption, the Parties will work collaboratively in good faith to avoid a Supply Interruption
and in such connection CytoDyn agrees to use Commercially Reasonable Efforts to provide American Regent with the same or greater percentage of Product for its Firm Orders, as the percentage of Product it provides to any other distributor of Product
outside the Territory with respect to its Firm Orders. If there is no resolution of this matter, American Regent’s sole remedy shall be to terminate this Agreement. 

6.4 Packaging Configuration. American Regent shall sell the Product with CytoDyn’s labeling and packaging, bearing American
Regent’s NDC Number, and clearly identifying American Regent solely as the distributor of the Product. [***] after receiving FDA approval of its own labeling and packaging for the Product, CytoDyn shall supply American Regent with copies of
CytoDyn’s approved labeling and packaging for the Product. CytoDyn’s labeling and packaging shall identify CytoDyn’s manufacturer of the Product. [***] after American Regent’s receipt of such labeling, American Regent shall
provide to CytoDyn proposed camera ready artwork for the labeling and packaging for the Product American Regent will sell, which shall be consistent with the labeling and packaging of the Product provided by CytoDyn, with the addition of the
American Regent’s NDC Number obtained pursuant to Section 3.3. The American Regent labeling and packaging for the Product shall be subject to the prior approval of CytoDyn, which approval shall not be unreasonably withheld or delayed.
CytoDyn shall only be obligated to supply to American Regent the Product in mutually agreed upon packaging configurations, including, but not limited to pallet level aggregation for serialization. Any changes to the packaging and labeling of Product
requested by American Regent shall require the prior written consent of CytoDyn, which approval shall not be unreasonably withheld or delayed. If CytoDyn consents to such changes, such changes shall be effected at American Regent’s sole cost
and expense. 

  
 15 

 6.5 Serialization. 

(a) Connectivity. CytoDyn and American Regent connectivity between American Regent’s and CytoDyn’s L4 (vendor supported)
systems is required to be established and validated prior to the first production lot of Product for sale by American Regent. This connectivity testing confirms that the EPCIS (Electronic Product Code Information Services) file containing the lot
information can be successfully transferred from American Regent to CytoDyn. American Regent uses IRIS as its L4 system. Any updates made to the AS2 (a specification about how to transport structured business-to-business data securely and reliably over the Internet) need to be communicated directly to either Party. Using its L4, CytoDyn will generate and provide the serial numbers for the smallest unit of
sale and aggregate the Serialized Shipping Container Codes (SSCCs) and pallet to American Regent’s L4. 
 (b) Lot
Numbering/Expiration Dates. CytoDyn shall make arrangements for and implement the imprinting of lot numbers and expiration dates on the packaging of Product shipped. Such lot numbers and expiration dates shall be affixed on the Product packaging
and on the shipping carton of Product as is required by cGMPs and consistent with the Specifications. Electronic on-line verification of the lot number, expiration date, and serialization will be performed by
CytoDyn. 
 (c) Product Identifier and Serial Numbering. If required by Applicable Law, CytoDyn shall make arrangements for the
imprinting of the product identifier, i.e., global trade identification number (GTIN) and serial number on the packaging of each Product shipped. Such product identifier and serial number shall be affixed on the Product packaging and on the shipping
carton of each Product as required by cGMPs and consistent with the Specifications. Electronic on-line verification of the product identifier and serial number will be performed by CytoDyn. 

(d) Data Carrier Printing and Encoding. If required by Applicable Law, CytoDyn shall make arrangements for the imprinting of the data
carrier, i.e., 2D data matrix or barcode, on the packaging of Product shipped. Such data carrier shall encode the lot number, expiration date, Product identifier and serial number. Such data carriers shall be affixed on the Product packaging and on
the shipping carton of each Product as required by cGMPs and consistent with the Specifications. Electronic verification of the data carrier will be performed by CytoDyn. 

6.6 Method of Delivery of Product. Product shall be shipped and delivered DDP to American Regent’s facility in Shirley, NY
and/or New Albany, OH (Incoterms® 2010).). American Regent shall advise CytoDyn in writing at least fifteen (15) days in advance of the scheduled shipping date specified in the applicable
Firm Order of the carrier to be used to ship Product to American Regent. CytoDyn shall cause such carrier to comply with all Applicable Laws, and the Product storage and shipping requirements, for the shipment of Product. CytoDyn shall determine the
appropriate carrier if CytoDyn receives no direction from American Regent at least fifteen (15) days in advance of the scheduled shipping date specified in the applicable Firm Order to use a particular carrier. CytoDyn shall be responsible for
providing temperature-controlled transport for the Product, along with verifiable data through temperature tails to support that the Product was not exposed to excursions during transport. Title and risk of loss to Product shall pass to American
Regent immediately upon such delivery. 

  
 16 

 6.7 Acceptance, Rejection and Revocation of Acceptance. 

(a) CytoDyn shall be responsible for Product test procedures for quality assurance, including Product storage and shipping requirements, before
Product is released to American Regent. CytoDyn shall provide a certificate of analysis and other documents (collectively, the “COA”) as set forth in the Quality Agreement, in such forms as the Parties shall agree upon, for any
Product batch delivered to American Regent hereunder certifying that such Product have been Manufactured, Packaged and shipped in compliance with the Specifications, cGMPs and all other applicable Regulatory Requirements and with an expiry date of
not less than twelve (12) months from the date of shipment. 
 (b) American Regent shall inspect or shall cause to be inspected all
shipments of Product promptly upon receipt. American Regent may reject any Product which does not conform to the Specifications, or the shipping and storage requirements for the Product, at the time of receipt at American Regent’s location.
American Regent shall make any such rejection in writing, within ten (10) days of the later of the receipt of the COA or the Product at the facility designated by American Regent in the applicable Firm Order (the “Stipulated Rejection
Period”), to CytoDyn, and shall indicate the reasons for such rejection (the “Rejection Notice”). 

(c) If American Regent has not delivered a Rejection Notice within the Stipulated Rejection Period, American Regent shall be deemed to have
accepted that shipment of Product. Once American Regent has accepted or has been deemed to have accepted a shipment of Product, and except with respect to Latent Defects discovered by American Regent or American Regent’s customers after the
expiration of the Stipulated Rejection Period, American Regent may not exercise any rights to subsequently reject such shipment under this Section 6.7. 

6.8 Rejection Procedures. 

(a) After CytoDyn receives the Rejection Notice, it will evaluate process issues and the reasons given by American Regent for the rejection.
CytoDyn shall use Commercially Reasonable Efforts to promptly notify American Regent whether it agrees with the basis for American Regent’s rejection, but in no event shall such notice be given later than thirty (30) days of CytoDyn’s
receipt of a Rejection Notice. If CytoDyn does not so notify American Regent within thirty (30) days of receipt of the Rejection Notice as to whether it agrees with the basis of American Regent’s rejection, CytoDyn shall be deemed to be in
agreement therewith. 
 (b) If CytoDyn agrees with or is deemed to agree with the basis for American Regent’s rejection, CytoDyn shall
use Commercially Reasonable Efforts to promptly replace, at no cost to American Regent, such rejected Product. 
 (c) If CytoDyn disagrees
with the basis for American Regent’s rejection specified in the Rejection Notice: (i) CytoDyn shall use Commercially Reasonable Efforts to promptly replace such rejected Product; (ii) no payment shall be due with respect to the
replacement Product until it is determined which Party shall bear the burden of such cost hereunder; and (iii) the Parties shall submit samples of the rejected Product to a mutually acceptable Third Party laboratory, which shall determine
whether such Product meets the 

  
 17 

 
Specifications and, as part of this process, may also carry out a full investigation of the Manufacturing process for such Product if the Third Party laboratory reasonably believes such an
investigation is necessary to resolve the disagreement. The Parties agree that the determination of the Third-Party laboratory, after it has assessed the retention samples and following any full investigation of the Manufacturing process it
conducts, shall be final and determinative. If the Third-Party laboratory determines that the retained samples meet the Specifications, the rejection by American Regent is unjustified, and American Regent shall promptly pay CytoDyn for any
replacement Product and, if the Product can no longer be distributed, Transfer Price on the rejected Product. If the Third-Party laboratory determines that the relevant shipment of Product does not meet the Specifications, CytoDyn shall not invoice
American Regent for the replacement Product. The Party against whom the Third-Party laboratory rules shall also bear the fees charged by the Third Party laboratory in connection with resolution of the disagreement, including all out-of-pocket costs of investigating the Manufacturing process. 

(d) At CytoDyn’s election and upon authorization from CytoDyn, American Regent shall destroy the rejected Product promptly and provide
CytoDyn with certification of such destruction unless CytoDyn elects to have the Product returned, in which event American Regent shall cooperate in arranging such return. The party against who the Third-Party laboratory rules shall pay the cost of
destroying or returning the Product. 
 (e) Notwithstanding any of the other provisions in this Agreement and without limiting any other
provision herein, American Regent agrees that the remedies set forth in this Section 6.8 are American Regent’s sole and exclusive remedies with respect to the rejection of Product. 

6.9 Prices and Payments. 

(a) Transfer Price. The price payable by American Regent (the “Transfer Price”) for all Product delivered hereunder shall be
[***].    The Transfer Price shall be paid to Cytodyn by American Regent at the time American Regent pays the [***] owed to CytoDyn with respect to such calendar quarter. 

(b) Adjustment to Transfer Price. CytoDyn shall use commercially reasonable efforts to reduce its Manufacturing expenses for the
Product. CytoDyn shall conduct annual review on the costs of all materials and API required to Manufacture the Product. In the event that the cost of materials decreases by more than [***], CytoDyn shall reduce the Transfer Price accordingly. In the
event there is a change in the Manufacturing requirements applicable to the Manufacture of the Product pursuant to this Agreement or an increase in CytoDyn’s cost structure for the Manufacture of the Product (including with respect to any
materials used to Manufacture the Product) of more than [***], CytoDyn shall promptly notify American Regent and the Transfer Price shall be adjusted by CytoDyn to reflect such increase. 

(c) American Regent shall be responsible for the payment of any duties, levies or Taxes applied to the sale of Product in the Territory by any
relevant Tax authority. 

  
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 (d) Any payments to be made hereunder and which have not been made by the due date, shall
accrue interest at any rate equal to the lower of (a) a floating annual rate of [***] above the commercial prime rate as published in the Wall Street Journal on the first Monday of each month, or (b) the highest rate permitted by law;
provided that payments of such interest shall not constitute a remedy to a material breach for purposes of terminating this Agreement under Section 9.2. Additionally, American Regent shall be responsible for all reasonable attorneys’ fees,
witness fees and court costs and other costs incurred by CytoDyn to recover amounts owing to it hereunder. 
 (e) American Regent shall make
all payments contemplated by this Agreement in U.S. Dollars and to such address as CytoDyn may from time to time direct in writing to American Regent. 

6.10 Net Profit Split. American Regent shall pay CytoDyn an amount equal to [***] of the Net Profits from American Regent’s
sales of the Product for each calendar quarter during the Term, and any selloff period under Section 9.4 after the Term. To the extent the Net Profit is negative in any particular calendar quarter or quarters, American Regent shall be entitled
to accrue and set off such shortfall against any positive Net Profit generated in any subsequent calendar quarter or quarters. Each Party shall have the right to terminate this agreement with thirty (30) days written notice in the event that
the Net Profit for American Regent’s sales of the Product are negative for two (2) or more consecutive calendar quarters. 

6.11 Reporting and Payment. 

(a) Not later than thirty (30) days after the end of each calendar quarter, through and including the calendar quarter in which all rebate
and chargeback amounts on Product sold during the Term and any applicable selloff period under Section 9.4 are finally reconciled, American Regent shall: 

(i) deliver to CytoDyn a written report that specifies in detail the breakdown of individual components of the Net Sales that were used to
calculate the Net Profit with respect to such calendar quarter, as well as the Net Profit calculation; and 
 (ii) pay to CytoDyn the Net
Profit split amount owed to CytoDyn with respect to such calendar quarter. 
 (b) Prior to May 21 every year during the Term, American
Regent will use good faith efforts to provide CytoDyn with American Regent’s actual and estimated forecasted sales of Product, and estimated Net Profit through to May 31, for CytoDyn’s use for its end of year reporting requirements.

 6.12 Audit. American Regent shall keep and retain complete and accurate records pertaining to the disposition of the
Product and amounts payable under this Agreement for each calendar year or part thereof during the Term in sufficient detail to permit CytoDyn to confirm the accuracy of all payments made or due hereunder for a period of three (3) years
following the applicable calendar year or part thereof. CytoDyn shall have the right to appoint an independent 

  
 19 

 
internationally recognized audit firm, reasonably acceptable to American Regent, to audit the books of account of American Regent in order to determine whether American Regent has properly
reported and accounted for any fees or payments due to CytoDyn pursuant to this Agreement. The appointed audit firm may perform audits during regular business hours, not more than once in any calendar year during the Term and upon reasonable prior
notice to American Regent. CytoDyn shall bear the audit fees, unless such Third Party auditor determines that the amount actually due CytoDyn, in the aggregate, exceeds the amounts paid or deemed paid by American Regent hereunder by the lower of
[***] or [***], in which case American Regent shall bear the audit fees. American Regent shall forthwith pay any amounts discovered to be due pursuant to an audit together with interest from the date payment was originally due at a rate equal to the
lower of (a) a floating annual rate of [***] above the commercial prime rate as published in the Wall Street Journal on the first Monday of every month calculated monthly or (b) the highest rate permitted by law. The results of the audit
shall be final and binding upon the Parties. 
 6.13 Facility Audits. 

(a) American Regent and/or its nominee shall have the right to conduct an audit of any manufacturing site at which the Product is being
Manufactured during business hours upon ten (10) Business Days prior written notice to CytoDyn not more than once per calendar year during the Term of this Agreement, unless either Party, the FDA or any Third Party raises any questions about
the quality of a Product which could have a material detrimental effect on the sales or use of a Product, in which case American Regent’s audit right shall not be subject to the foregoing limitation until the specific issue in question has been
resolved, and CytoDyn shall promptly supply to American Regent all data and results relating to all Testing performed in connection with the issue in question. CytoDyn shall be responsible for its own costs, and those of its contract manufacturers,
for a first audit by American Regent hereunder. American Regent shall bear the fees and costs of any subsequent audit, including the fees and costs payable by CytoDyn to any Third-Party subcontractor that Manufactures the Product. 

(b) CytoDyn and/or its nominee shall have the right to conduct an audit of the facilities and records of American Regent relating to the
Marketing, Testing, and storage of the Product and of any correspondence between American Regent and the FDA related to the Product or such facilities, during business hours upon reasonable prior written notice to American Regent not more than once
per any twenty-four month period during the Term of this Agreement, unless any Official Body reasonably believes that American Regent may be in material breach of its obligations under Article 3 or Section 4.4 or Applicable Laws governing the
Marketing of Product that could have a material detrimental effect on the sales or use of the Product, in which case CytoDyn’s audit right shall not be subject to the foregoing limitation until the specific issue or question has been resolved,
and American Regent shall promptly supply to CytoDyn all data and results relating to all Testing performed by American Regent on the Product. 

  
 20 

 7. INTELLECTUAL PROPERTY 

7.1 Ownership of CytoDyn Intellectual Property. CytoDyn shall retain all of its rights, title and interest in and to all Product
Technology, copyrights, and all other industrial and Intellectual Property embodied in or which covers the Product, in each case which is owned, held, or licensed by it as of the Effective Date or thereafter or developed, created or discovered by it
or on its behalf during the Term, subject to the rights granted in this Agreement. Except as otherwise expressly provided in this Agreement, American Regent has and shall have no right, title or interest in any Intellectual Property owned by or
licensed by CytoDyn relating to the Product including the Product Technology. 
 7.2 Ownership of American Regent Intellectual
Property. American Regent shall retain all of its right, title and interest in and to any Intellectual Property owned by American Regent. For clarification purposes, the Parties agree that nothing herein grants, or constitutes an agreement or
obligation to grant, to CytoDyn, or any of their Affiliates or other Third Party any right, title or interest in, to or under any Intellectual Property owned by American Regent. 

7.3 Notice of Patent Infringement. 

(a) Information Concerning Infringement. If either Party shall learn of (i) any claim or assertion that the Manufacture, Marketing,
Packaging or Testing of a Product, or the use of the Product Technology or other Intellectual Property related to a Product infringes, misappropriates or otherwise violates the Intellectual Property rights of any Third Party, or (ii) the actual
or threatened infringement, misappropriation or other violation by any Third Party of the Product Technology or other Intellectual Property related to a Product, then the Party becoming so informed shall as soon as reasonably practicable, but in all
events within fifteen (15) Business Days thereof, notify the other Party of such claim or assertion, or actual or threatened infringement, misappropriation or other violation. 

(b) Potential Infringement. In the event either CytoDyn or American Regent learns of any Third-Party patents which may cover the
Manufacturing, Marketing, Testing or Packaging of a Product in the Territory, such Party will promptly notify the other Party. The Parties agree to confer in good faith regarding such potential infringement risk and to explore reasonable
alternatives for avoiding such risk and to provide such information to each other as either Party may reasonably request. 
 7.4
Infringement of Product Technology by a Third Party. In the event that any Party becomes aware of any Person infringing or potentially infringing the Product Technology, whether by direct or indirect infringement, or by misappropriation
of Product Technology, it shall promptly notify the other Party. CytoDyn shall notify American Regent within thirty (30) days of such notice, whether CytoDyn wishes to commence, at its own expense, an infringement action against any Person
infringing or allegedly infringing the Product Technology, including actions for direct or contributory infringement or misappropriation of Product Technology. American Regent shall cooperate with CytoDyn as reasonably requested, at CytoDyn’s
expense. Any and all amounts recovered with respect to such an action shall be retained by CytoDyn. 

  
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 8. CONFIDENTIALITY 

8.1 CytoDyn’s Information. Except as provided in Section 8.3 or elsewhere in this Agreement, American
Regent shall maintain all Confidential Information provided by CytoDyn to American Regent, whether in writing, electronically, orally or through access to CytoDyn’s premises, in strict confidence. Such information shall remain the property of
CytoDyn, and American Regent shall not use the same for or on behalf of any Person or entity other than CytoDyn or make use of any such information except as permitted by this Agreement without the express prior written approval of CytoDyn. 

8.2 American Regent’s Information. Except as provided in Section 8.3 or elsewhere in this Agreement,
CytoDyn shall maintain all Confidential Information provided by American Regent to CytoDyn, whether in writing, electronically, orally or through access to American Regent’s premises, in strict confidence. Such information shall remain the
property of American Regent, and CytoDyn shall not make use of any such information except as permitted by this Agreement without the express prior written approval of American Regent. 

8.3 Exceptions. The covenants of the receiving Party contained in Section 8.1 and Section 8.2 shall not apply to
Confidential Information (a) that the receiving Party can reasonably demonstrate by competent proof is required to be disclosed by Applicable Law or a court or other Official Body pursuant to (i) regulatory filings; (ii) prosecuting
or defending litigation; or (iii) complying with Applicable Law and orders or decisions of any Official Body having jurisdiction; or (b) disclosed to Affiliates who agree to be bound by similar terms of confidentiality. Notwithstanding any
provision herein to the contrary, nothing herein shall prevent or prohibit any disclosure of any information concerning this Agreement (A) required under Applicable Laws and the rules and regulations of any stock exchange or market system on
which any Party’s securities are or may be traded, (B) by either Party in connection with an Approved Transaction (as defined below), where prospective parties or the other party or parties to such Approved Transaction have entered into
confidentiality agreements with the Party concerning such Confidential Information, (C) to either Party’s financial advisors or legal advisors who have agreed to the limitations on disclosure contained herein and/or (D) to investment
bankers and/or financing sources in connection with bona fide financing transactions involving either Party or an Affiliate. For the purposes of this Agreement, each of the following shall constitute an “Approved
Transaction”: (i) the issuance by either Party of securities in connection with any financing transaction or public offering, and/or (ii) a merger, consolidation or other similar transaction involving either Party (i.e.,
wherein another entity acquires all or substantially all of that Party’s equity interests or assets or a merger or consolidation or similar transaction wherein securities of the post transaction entity will be issued to the other party). If a
Party is required or permitted to make a disclosure of the other Party’s Confidential Information pursuant to this Section 8.3, it will use Commercially Reasonable Efforts to (I) limit the scope of the Confidential Information
disclosed and the number of persons to whom such Confidential Information is disclosed, in each case to the minimum extent required to address the reason such disclosure is permitted hereunder and (II) secure confidential treatment of such
Confidential Information and comply with any applicable provisions of Section 12.7. 
 8.4 Survival. This Article 8 shall
survive termination of this Agreement for a period of five (5) years. 

  
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 9. TERM AND TERMINATION OF AGREEMENT 

9.1 Term. The term of this Agreement shall commence on the Effective Date and continue for three (3) years from the date of
the First Commercial Sale (the “Initial Term”). The Parties may mutually agree in writing to renew the Agreement for one additional one (1) year period (the “Renewal Term”, if
applicable, and together with the Initial Term, subject to early termination pursuant to Section 9.2 the “Term”) provided that if American Regent does not wish to renew it must provide CytoDyn at least
six (6) months written notice to CytoDyn prior to the expiry of the Initial Term. 
 9.2 Termination. 

(a) Material Breach. A Party shall have the right to terminate this Agreement upon prior written notice to the other Party for material
breach of this Agreement by the other Party (which includes any failure by American Regent to pay amounts when due to CytoDyn in accordance with the terms of this Agreement). Any notice of material breach shall specify the breach in reasonable
detail. Unless otherwise provided in this Agreement, the termination shall be effective thirty (30) days after receipt of the written notice, unless the breaching Party cures the breach within that thirty (30) day notice period, or, if
such breach is incapable of cure within such thirty (30) day period, the breaching Party has commenced good faith efforts to cure such breach within such thirty (30) day period and cures such breach within three (3) months after the
receipt of the notice of material breach. 
 (b) Termination by CytoDyn. After the First Commercial Sale occurs, CytoDyn shall have
the right to terminate this Agreement at any time in its sole discretion by giving six (6) months advance written notice to American Regent. 

(c) Termination by American Regent. Notwithstanding anything contained herein to the contrary, American Regent shall have the right to
terminate this Agreement: 
 (i) upon six (6) months advance written notice to CytoDyn (a) if, following due diligence and/or a
quality inspection of the manufacturing facility associated with the Product, it determines that the distribution of the Product by American Regent should not be pursued, subject to the cure provisions of Section 9.2(a) above, or (b) if
there is an unresolved Supply Interruption pursuant to Section 6.4. 
 (ii) immediately upon written notice to CytoDyn if
(a) pursuant to Section 3.3, American Regent determines there is an unacceptable risk of using American Regent’s NDC Number on the Product labeling, (b) if both the mutually agreed Quality Agreement and the Safety Data Exchange
Agreement have not been executed by the Parties within forty five (45) days of the Effective Date, (c) any patent or trade secret infringement alleged by a Third Party (except any company in the Daiichi Sankyo family of companies) against
American Regent resulting from American Regent’s Marketing of the Product survives motion to dismiss or has not been resolved six (6) months after American Regent first receives written notice of the alleged infringement, (d) any
regulatory authority in the Territory requires the cessation of sale or distribution of the Product, (e) pursuant to Section 5.2(d), or (f) there is a negative Net Profit for the Product for two (2) consecutive calendar quarters
pursuant to Section 6.10. 

  
 23 

 (d) Bankruptcy and Insolvency. A Party shall have the right to terminate this
Agreement in the event that a court of competent jurisdiction declares the other Party insolvent or bankrupt, or a bankruptcy proceeding is commenced against the other Party or the other Party files a proposal, assignment for the benefit of
creditors, arrangement, composition or seeks similar relief under any Applicable Law or the other Party is in receivership, in which case termination shall be effective upon written notice to that effect. 

(e) Termination Due to Change of Control. In the event of a Change of Control of American Regent (or American Regent’s controlling
Affiliate) during the Term, American Regent shall deliver a written notice of such Change of Control to CytoDyn within thirty (30) days of the Change of Control event. At any time within ninety (90) days after the earlier of
CytoDyn’s receipt of the notice of such Change of Control, or the date CytoDyn otherwise becomes aware of such Change of Control, CytoDyn may terminate this Agreement upon ninety (90) days written notice to American Regent. 

9.3 Accrued Rights, Surviving Obligations. Termination or expiration of this Agreement shall not affect any accrued rights of either
Party or payments otherwise owing. Without limiting the foregoing, the terms of Sections 3.4, 4.3, 4.5, 6.11, 6.12, 9.3, 9.4, 9.5; Article 1 (to the extent needed to interpret any surviving Articles or Sections) and Articles 5, 7, 8, 10, 11, and 12
shall survive termination or expiration of this Agreement. 
 9.4 Transitional Matters. 

(a) Upon expiration or termination of this Agreement, at CytoDyn’s option, either (a) all Firm Orders previously submitted by
American Regent prior to the effective date of termination or expiration shall be cancelled, or (b) all Firm Orders previously submitted by American Regent prior to the effective date of termination or expiration shall remain in effect, and
CytoDyn shall supply Product, and American Regent shall purchase such Product under such Firm Orders, in accordance with the terms of this Agreement; provided, however, that to the extent CytoDyn elects to continue to fill such Firm Orders, American
Regent shall be required to pre-pay the [***] for all such Product (which payment shall be made within [***] after American Regent’s receipt of notice of CytoDyn’s election to fill such Firm Orders).

 (b) Upon expiration or termination of the Agreement, American Regent may, where permitted by Applicable Law, sell Product then in its
inventory for a period of [***] thereafter, which [***] period may be extended for up to an additional [***] months but only to the extent CytoDyn has not granted a Third Party an exclusive distribution right to such Product in the Territory, all in
accordance with the terms of this Agreement. Promptly after the expiration of the periods set forth in the previous sentence, American Regent will, at its cost, destroy any unsold Product remaining in its inventory and will provide appropriate
evidence of such destruction to CytoDyn or, at CytoDyn’s request, return the inventory to CytoDyn at CytoDyn’s cost and provided CytoDyn pays American Regent the Transfer Price with respect to such inventory. In addition, all information
and materials relating to Product, will, at CytoDyn’s request, promptly be delivered to CytoDyn, at CytoDyn’s cost of delivery, CytoDyn will have the right to cancel any Firm Orders placed by American Regent which were accepted by CytoDyn
prior to such termination, and which require delivery of Product after the date of termination. 

  
 24 

 (c) Upon termination, American Regent and CytoDyn shall at their own expense use
Commercially Reasonable Efforts to ensure that the continuity of patient care is not disrupted. In addition, American Regent will remain responsible for returned Product Marketed by American Regent during the Term and the sell-off period specified under Section 9.4(b), and CytoDyn will be responsible for returned Product not Marketed by American Regent. For the purpose of identifying the responsible party,
Product will be tracked via lot numbers. 
 9.5 Effect of Termination. Upon any termination of this Agreement, except
to the extent required for the purposes of Section 9.4, (i) all licenses and rights granted to American Regent hereunder shall immediately terminate and (ii) all rights, properties and interests granted by CytoDyn to
American Regent shall immediately revert to and become fully vested in CytoDyn and American Regent shall return to CytoDyn all copies of documents regarding a Product and all Confidential Information supplied by CytoDyn. 

10. INDEMNITY 
 10.1
Indemnification by CytoDyn. CytoDyn agrees to and hereby does indemnify, defend and hold the American Regent Indemnitees harmless from and against all losses, claims, damages, costs and expenses, including reasonable attorneys’ fees
(including, without limitation, those resulting from a Third Party claims, actions, or proceedings) (collectively “Losses”) to the extent arising from: (a) the breach of any representation, warranty, covenant or
obligation hereunder by CytoDyn or its Affiliates, (b) any negligent act or omission, or willful misconduct by CytoDyn or its Affiliates; (c) the failure of a Product sold to American Regent to conform to the Specifications (whether the
failure is patent or latent) or any Product Liability Claims, in each case because of conditions existing at the time title of such Product is transferred to American Regent, (d) any claims of infringement or misappropriation of any Third
Party’s patent or trade secret rights. 
 10.2 Indemnification by American Regent. American Regent agrees to and hereby
does indemnify and hold the CytoDyn Indemnitees harmless from and against all Losses arising from claims of negligent distribution of Product by American Regent or any of its agents. 

10.3 Procedure. This Section 10.3 describes the procedure for indemnification of Losses for the Third-Party claims. With
respect to Losses relating to the claim of a Party hereto, the procedures provided in Article 10 shall govern. The Party seeking indemnification for third party claims under Sections 10.1 or 10.2 (the “Indemnified
Party”) shall promptly notify the other Party (the “Indemnifying Party”) in writing of all matters which may give rise to the right to indemnification hereunder; provided, however, that failure
to promptly give the notice provided in this Section 10.3 shall not be a defense to the liability of the Indemnifying Party for such claim, but the Indemnifying Party may recover any actual Losses arising from the Indemnified Party’s
failure to give such prompt notice. The Indemnified Party shall not admit any liability with respect to, or settle, compromise or discharge any such matter covered by this Article 10 without the Indemnifying Party’s prior written consent
(which shall not be unreasonably withheld). The Indemnifying Party shall have the right, with the consent of the Indemnified Party (which shall not be unreasonably withheld), to settle all indemnifiable matters under this Article 10 related to
claims by Third Parties. In connection with any claim giving rise to indemnity under this Article 10 resulting from or arising out of any claim or legal proceeding by a Person other than the Indemnified

  
 25 

 
Party, the Indemnifying Party at its sole cost and expense may, upon written notice to the Indemnified Party and an acknowledgement of its indemnity obligations hereunder, assume the defense of
any such claim or legal proceeding. If the Indemnifying Party assumes the defense of any such claim or legal proceeding, the Indemnifying Party shall select counsel reasonably acceptable to the Indemnified Party to conduct the defense of such claims
or legal proceedings and, at the Indemnifying Party’s sole cost and expense (which costs and expenses shall not be applied against any indemnity limitation herein), shall take all steps necessary in the defense or settlement thereof. The
Indemnified Party shall be entitled to participate in (but not control) the defense of any such action, with its own counsel and at its own expense, and shall be entitled to any and all information and documentation relating thereto. If the
Indemnifying Party does not assume (or continue to diligently and competently prosecute) the defense of any such claim or litigation resulting therefrom in accordance with the terms hereof, the Indemnified Party may, at the Indemnifying Party’s
expense, defend against such claim or litigation in such manner as it may deem appropriate, but may not settle such claim or litigation without the consent of the Indemnifying Party, which consent shall not be unreasonably withheld. The Indemnified
Party will cooperate reasonably with the Indemnifying Party in its efforts to conduct or resolve such matters, including by making available to the Indemnifying Party relevant documents and witnesses. The Indemnified Party and the Indemnifying Party
shall keep each other informed of all settlement negotiations with Third Parties and of the progress of any litigation with Third Parties. The Indemnified Party and the Indemnifying Party shall permit each other reasonable access to books and
records and shall otherwise cooperate with all reasonable requests of each other in connection with any indemnifiable matter resulting from a claim by a Third Party. 

10.4 Indemnification Not Sole Remedy. Each Party hereby acknowledges that the indemnification provided under this Article
10 shall in no manner limit, restrict or prohibit (unless liability is otherwise expressly limited by the terms of this Agreement) either Party from seeking any recovery or remedy provided at law or in equity from the other Party in connection
with any breach or default by such other Party of any representation, warranty or covenant hereunder, including injunctive relief. 

10.5 Insurance. American Regent shall maintain insurance (including product liability insurance) with respect to its activities
under this Agreement regarding the Product in such amount as such party customarily maintains with respect to similar activities for its other products, but not less than such amount as is reasonable and customary in the industry. American Regent
shall maintain such insurance for so long as it continues its activities under this Agreement, and thereafter for so long as such party customarily maintains insurance for itself covering similar activities for its other products. CytoDyn will have
in force prior to the First Commercial Sale and shall maintain in good standing throughout the Term of this Agreement and for a period of three (3) years thereafter, product liability insurance policies in respect of the Product(s) with an
internationally recognized insurer or insurers licensed to do business in the Territory in an amount not less than [***] per occurrence, and [***] in the aggregate, on such terms and conditions as are customary in the industry. Upon written request,
CytoDyn shall provide written proof of such insurance to American Regent. 

  
 26 

 11. REPRESENTATIONS, WARRANTIES AND COVENANTS; LIMITATIONS OF LIABILITY 

11.1 Representations, Warranties and Covenants. 

(a) Organization and Authority. Each Party represents and warrants that it (i) is duly organized, validly existing and in good
standing under the Applicable Laws of the jurisdiction of its organization, (ii) is qualified to do business in each other’s jurisdiction in which the conduct of its business requires such qualification including the Territory,
(iii) is in compliance with all Applicable Laws, relating to its business and assets, and (iv) is not in material default of its memorandum or articles of association, its certificate of incorporation or
by-laws or all other constituent documents as the case may be, except in the case of (ii) and (iii) where such failure to qualify or be in compliance would not have a material adverse effect on the
business and assets of such Party or the performance of this Agreement by such Party. 
 (b) Due Authorization and Enforceability.
Each Party represents and warrants that (i) it has full authority to execute, deliver and perform its obligations under this Agreement, (ii) that this Agreement has been duly executed and delivered by such Party, and constitutes the legal,
valid and binding obligations of such Party and is enforceable against such Party in accordance with its terms, and (iii) that the execution, delivery and performance of this Agreement will not violate, be inconsistent with or result in a
default under or creation of lien or encumbrance under (except as specifically contemplated by this Agreement) (A) the memorandum or articles of association, certificate of incorporation or by-laws or
other constituent documents, as the case may be, of any Party and/or its Affiliates, (B) any material agreement, contract, license understanding or instrument binding upon or affecting such Party or its properties or assets, whether express,
implied, written or oral, or (C) any Applicable Laws affecting either Party or its properties or assets, except where such violation would not have a material adverse effect on the business and assets of such Party. 

(c) Product Handling. Each Party covenants that it will and will cause its agents to, comply with all Applicable Laws relating to
the warehousing, storage, Manufacturing, Marketing, Packaging and Testing of Product applicable to such Applicable Laws and will ensure that all required approvals are in effect and will maintain such approvals in good standing. 

(d) Rights to Grant. CytoDyn represents and warrants that it has the sole, exclusive and unencumbered right to grant the rights herein
granted to American Regent, and that neither CytoDyn, nor any other Person, has granted any option, license, right or interest in or to the Product in the Field to any Third Party which could conflict with the rights granted by it under this
Agreement in the Territory. 
 (e) No Claims. CytoDyn represents, warrants and covenants that as of the Effective Date there are no
proceedings currently pending or, to the knowledge of CytoDyn, threatened against, CytoDyn or any of its Affiliates, relating to or otherwise arising from (i) Product Liability Claims or claims for death or bodily injury relating to any
Product, or (ii) infringement, misappropriation or other conflict with any intellectual property or other rights of any Person relating to any Product, or (iii) the Marketing or Manufacture of any Product. 

  
 27 

 11.2 No Other Warranties. Except as set forth in this Article 11,
CytoDyn neither assumes, nor authorizes any Person to assume, any liability for any warranty in connection with the Product, and all liabilities of CytoDyn or any other Person in respect of the Product shall be subject to the limitations as provided
under this Article 11. The warranties of CytoDyn set forth in this Article 11 are in lieu of all other warranties, express or implied, and specifically, without limitation, CytoDyn disclaims any implied warranty of
merchantability or fitness for a particular purpose. 
 11.3 Quality Assurance Representations, Warranties and Covenants. 

(a) CytoDyn, and its Affiliates engaged in the performance of the actions contemplated hereby, including the Manufacture, sale and delivery of
Product hereunder, hereby represents, warrants and covenants to American Regent that all Product that CytoDyn or its Affiliates Manufactures, supplies and delivers under and pursuant to this Agreement will: 

(i) conform to the Specifications at time of shipment to American Regent; 

(ii) be free and clear from all liens, encumbrances and defects of title, other than those that arise directly as a result of actions taken by
American Regent; and 
 (iii) comply with the requirements under the cGMP standards, the Regulatory Approvals and any other Applicable Law
in the Territory, and will not, at the time of such delivery, (A) be adulterated or misbranded, or (B) be an article which may not, under the provisions of the Act, be introduced into interstate commerce. 

(b) American Regent shall be responsible for storing Product under appropriate conditions as specified in labeling and for distribution in full
compliance with the applicable cGMP standards, the Regulatory Approvals and the Applicable Law. 
 (c) American Regent shall not, in bad
faith, disrupt or cause the disruption of the supply of Product into the marketplace in the Territory. 
 (d) CytoDyn shall at all times
during the Term, be in current compliance with, all Regulatory Approvals as may be required to Manufacture and/or to supply the Product pursuant to this Agreement, and, as of the Effective Date. 

(e) Each Party represents and warrants that neither it nor any of its Affiliates, directly involved with the performance of this Agreement has
been debarred under subsections (a) or (b) of Section 306 of the Act, as amended, 21 U.S.C. Section 335a(a) and (b) or comparable foreign regulation, has been excluded, debarred, suspended or otherwise ineligible to participate
in a federal, provincial, or state health care program, (e.g., Medicare or Medicaid) or government procurement or non-procurement program or comparable foreign programs (a “Program”).
Moreover, if any Party or any of its Affiliates, directly involved with the performance of this Agreement is subsequently excluded, debarred or otherwise ruled ineligible to participate in a Program, such Party agrees to immediately notify the other
Party of such debarment, exclusion or suspension. Each Party shall also immediately notify the other Party in the event the notifying Party or any of its Affiliates, directly involved with the performance of this Agreement has been proposed for
exclusion from participation in any Program or charged with a criminal offense which, if convicted, would result in mandatory or discretionary exclusion in any such Program. 

  
 28 

 (f) Each Party represents and warrants that it did not and will not knowingly use in any
capacity the services of any person debarred under the Act or comparable foreign regulation or excluded, debarred, or otherwise ineligible to participate in any Program in connection with its performance of this Agreement. 

11.4 Limitation of Liability. Except a Party’s indemnification obligations or breach of Section 8, in no event shall
either Party or its Affiliates be liable to the other for any indirect, incidental, punitive or special damages, including loss of profits, goodwill or revenue, data or use, incurred by the other Party, however caused and on any theory of liability,
arising in any way out of this Agreement. Notwithstanding anything to the contrary contained herein, American Regent’s maximum liability under this Agreement, subject to Section 10.2, shall not exceed [***]. 

12. MISCELLANEOUS 
 12.1 Force
Majeure. The Parties shall not be liable for the failure or delay in performing any obligation under this Agreement (except for the payment of money) if and to the extent such failure or delay is due to (a) acts of God, (b) weather
condition, fire or explosion, (c) war, terrorism, invasion, riot or other civil unrest, (d) any governmental laws, orders, restrictions, actions, embargoes or blockades, (e) national or regional emergency, (f) injunctions,
strikes, lockouts, labor trouble or other industrial disturbances, (g) shortage of adequate fuel, power, materials, or resources, or (h) any other event which is beyond the reasonable control of the affected Party (each such event, a
“Force Majeure”); provided that the Party affected shall promptly notify the other of the Force Majeure condition and shall use Commercially Reasonable Efforts at its cost (except, for clarity, for any such costs of CytoDyn which
would be allocated to the Transfer Price) to eliminate, cure or overcome any such causes and to resume performance of its obligations. In no event shall American Regent’s inability to pay the amounts due under this Agreement be deemed a Force
Majeure event and a Force Majeure event shall not excuse American Regent from its obligation to make payments, when due, under this Agreement. 

12.2 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware and
the trademark and patent laws of the United States, without reference to any rules of conflict of laws. The United Nations Conventions on Contracts for the International Sale of Goods, as well as any other unified laws or regulations relating to the
conclusion and implementation of contracts for the international sale of goods, shall not apply. The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related to this
Agreement or a breach thereof. 
 12.3 Consent and Waiver Regarding Services of Process, Personal Jurisdiction and Jury Trial.
In any action, suit, arbitration or proceeding to enforce the rights of either Party under this Agreement or otherwise arising out of this Agreement or from any acts, omissions or activities of either Party arising from or related in any way to this
Agreement or the transactions contemplated hereby or related in any way to the Product, each Party, by execution and delivery of this 

  
 29 

 
Agreement, expressly and irrevocably consents to the service of any complaint, summons, notice or other process relating to any such action, suit, arbitration or proceeding by delivery thereof to
it by hand or by any other manner provided for in Section 12.5 hereof. Each Party hereby expressly and irrevocably waives any claim or defense in any such action, suit, arbitration or proceeding based on any alleged lack of personal
jurisdiction, improper venue, forum non conveniens or any similar doctrine or theory. IN ADDITION, EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 12.4 Entire Agreement; Amendments. This Agreement, including the
Schedules hereto, sets forth the entire terms of the supply and distribution arrangement between the Parties hereto and, except as otherwise set forth herein, supersedes and terminates all prior agreements and understandings between the Parties
regarding the subject matter hereof. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by an authorized officer of each Party. 

12.5 Notice. When a Party is required or permitted to give notice under this Agreement, the notice shall be in writing, shall be
sent by email, nationally recognized express delivery service, or delivered by courier or personal delivery (with evidence of receipt where feasible) and shall be deemed to be given upon receipt of the other Party. Unless otherwise specified in
writing, the mailing addresses of the Parties shall be as set forth below. 
 For CytoDyn: 

CytoDyn Inc. 
 1111Main Street

 Suite 660 
 Vancouver,
Washington 98660 
 Attention: Nader Pourhassan 

Email: npourhassan@cytodyn.com 

With a copy (which shall not constitute notice) to: 

General Counsel 
 (Same Mailing
Address) 
 Email: legalnotices@cytodyn.com 

For American Regent: 

American Regent, Inc. 
 5 Ramsey
Road 
 Shirley, New York 11967 

Attention: Head of Business Development 

Email: businessdevelopment@americanregent.com 

  
 30 

 With a copy (which shall not constitute notice) to: 

Vice President and General Counsel 

(Same Mailing Address) 

Email:    legalnotices@americanregent.com 

12.6 Assignment; Change of Control. Except as provided in this Section, this Agreement may not be assigned or otherwise
transferred, nor may any rights or obligations hereunder be assigned or transferred, by either Party, whether in a merger, sale of stock, sale of assets or other transaction, without the written consent of the other Party. Notwithstanding the
foregoing, (i) CytoDyn may, without American Regent’s consent, assign this Agreement and its rights and obligations hereunder in whole or in part to (a) a CytoDyn Affiliate or (b) to a Third Party in connection with a Change of
Control of CytoDyn and (ii) subject to Section 9.2(e), American Regent may, without CytoDyn’s consent, assign this Agreement and its rights and obligations hereunder to a Third Party in connection with a Change of Control of American
Regent. Any permitted assignee shall assume all assigned obligations of its assignor under this Agreement. Any attempted assignment not in accordance with this Section shall be void. Notwithstanding the foregoing, in the event of a Change of Control
of American Regent, CytoDyn shall have the right to require American Regent (including the Person who acquired American Regent in the Change of Control, if any), to adopt procedures as reasonably requested by CytoDyn to prevent the disclosure of all
CytoDyn Confidential Information beyond American Regent personnel having access to and knowledge of CytoDyn Confidential Information prior to the Change of Control and to control the dissemination of CytoDyn Confidential Information disclosed after
the Change of Control. The purposes of such procedures shall be to strictly limit such disclosures to only those personnel having a need to know CytoDyn Confidential Information in order for American Regent to perform its obligations under this
Agreement and to prohibit the use of CytoDyn Confidential Information for competitive reasons against CytoDyn (and its Affiliates) products, including the use of CytoDyn Confidential Information for the development or commercialization of competing
products in the event of a Change of Control of American Regent. This Agreement shall be binding on, and inure to the benefit of, each Party, and its permitted successors and assigns. 

12.7 Public Announcements. Neither Party shall make any voluntary publicity releases, interviews or other dissemination of
Confidential Information concerning the Product, this Agreement or its terms, or either Party’s performance hereunder, to communication media, financial analysts or others without the prior written approval of the other Party, which approval
shall not be unreasonably withheld. Notwithstanding the foregoing, (a) CytoDyn may comply with its legal or regulatory disclosure obligations upon prior written notice to American Regent; and (b) upon written notice to American Regent,
CytoDyn may make a mutually agreeable publicity release that mentions American Regent upon the execution of this Agreement, the FDA approval of the Product in the Field, or first sale of the Product by American Regent, provided, however, that
American Regent shall have not less than three (3) Business Days to review and comment on such disclosures and filings, unless a shorter period is necessitated by securities laws, any such comments provided shall be reasonably accepted by CytoDyn
and American Regent shall not unreasonably withhold, delay or condition its review and comments on such disclosures. 

  
 31 

 12.8 Severance. If any Official Body having jurisdiction over either CytoDyn
or American Regent declares any Article or part thereof invalid or any such Official Body deems any Article or part thereof to be contrary to any Applicable Laws, then such Article or part thereof shall be deemed stricken from this Agreement in that
jurisdiction. To the extent possible the Parties shall revise such invalidated Article or part thereof in a manner that will render such provision valid without impairing the Parties’ original intent. 

12.9 Non-Waiver. The failure of a Party in any one or more instances to insist
upon strict performance of any of the terms and conditions of this Agreement shall not be construed as a waiver or relinquishment, to any extent, of the right to assert or rely upon any such terms or conditions on any future occasion. Except as
otherwise specified, all rights, remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them shall be a limitation of any other remedy, right, undertaking, obligation or agreement. 

12.10 Further Assurances. Each Party hereto agrees to execute such further documents and take such further steps as the other
Party reasonably determines may be necessary or desirable to effectuate the purposes of this Agreement. 
 12.11 Disclaimer of
Agency. This Agreement shall not constitute either Party the legal representative or agent of the other Party, nor shall either Party have the right or authority to assume, create, or incur any Third Party liability or obligation of any kind,
express or implied, against or in the name of or on behalf of another except as expressly set forth in this Agreement. None of a Party’s directors, officers, agents or employees shall be considered employees agents or legal representatives of
the other Party for any purpose. 
 12.12 Construction. The language in all parts of this Agreement shall be construed, in all
cases, according to its fair meaning. The Parties acknowledge that each Party and its counsel have reviewed and revised this Agreement and that any rule of construction to the effect that any ambiguities are to be resolved against the drafting Party
shall not be employed in the interpretation of this Agreement. The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as
a whole and not to any particular provision of this Agreement. The terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa. Whenever used herein, the words “include,” “includes” and
“including” shall mean “include, without limitation,” “includes, without limitation” and “including, without limitation,” respectively. The masculine, feminine or neuter gender and the singular or plural
number shall each be deemed to include the others whenever the context so indicates. 
 12.13 Counterparts. This
Agreement shall become binding when any one or more counterparts hereof, individually or taken together, shall bear the signatures of each of the Parties hereto. This Agreement may be executed in any number of counterparts, including by facsimile,
each of which shall be deemed an original as against the Party whose signature appears thereon, but all which taken together shall constitute but one and the same document. 

  
 32 

 12.14 Consents in Writing. Any consents or approvals required hereunder from a Party
must be in writing. 
 12.15 Set-offs. No Party may
set-off against any payments owing hereunder without the written consent of the other Party. 

[Signature Page Follows] 

  
 33 

 IN WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the date first written
above. 
  

									
	AMERICAN REGENT, INC.	 		 	CYTODYN, INC.
					
	By:	 	/s/ Ken Keller	 		 	By:	 	/s/ Nader Pourhassan
					
	Name:	 	Ken Keller	 		 	Name:	 	Nader Pourhassan
					
	Title:	 	President & CEO	 		 	Title:	 	Chief Executive Officer

 [SIGNATURE PAGE TO DISTRIBUTION AND SUPPLY AGREEMENT] 

 EXHIBIT A 

CYTODYN’S 2020 ESTIMATES FOR COST OF GOODS SOLD 

AGC/Ajinomoto: $[***] per 700 mg dose ($[***] / vial). 

Samsung: $[***] per 700 mg dose ($[***] / vial). 
 [***] will be
adjusted on an annual basis based on [***].EX-10.42

 EXHIBIT 10.42 

CYTODYN INC. 
 AMENDED AND
RESTATED 2012 EQUITY INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

					
	 ARTICLE 1
	  	ESTABLISHMENT AND PURPOSE	  	1
			
	 1.1
	  	Establishment	  	1
			
	 1.2
	  	Purpose	  	1
			
	 ARTICLE 2
	  	DEFINITIONS	  	1
			
	 2.1
	  	Defined Terms	  	1
			
	 2.2
	  	Gender and Number	  	5
			
	 ARTICLE 3
	  	ADMINISTRATION	  	5
			
	 3.1
	  	Administration by Board	  	5
			
	 3.2
	  	Delegation to Committee	  	5
			
	 3.3
	  	Authority of the Committee	  	5
			
	 3.4
	  	Action by the Committee	  	6
			
	 3.5
	  	Further Delegation	  	6
			
	 ARTICLE 4
	  	DURATION; SHARES SUBJECT TO THE PLAN; ELIGIBILITY	  	6
			
	 4.1
	  	Duration of the Plan	  	6
			
	 4.3
	  	Shares Subject to the Plan	  	6
			
	 4.5
	  	Eligibility	  	7
			
	 ARTICLE 5
	  	AWARDS	  	7
			
	 5.1
	  	Types of Awards	  	7
			
	 5.2
	  	General	  	7
			
	 5.3
	  	Nonuniform Determinations	  	7
			
	 5.4
	  	Award Agreements	  	7
			
	 5.5
	  	Provisions Governing All Awards	  	7
			
	 ARTICLE 6
	  	OPTIONS	  	11
			
	 6.1
	  	Types of Options	  	11
			
	 6.2
	  	General	  	11
			
	 6.3
	  	Option Price	  	11
			
	 6.4
	  	Option Term	  	11
			
	 6.5
	  	Time of Exercise	  	12
			
	 6.6
	  	Special Rules for Incentive Stock Options	  	12
			
	 6.7
	  	Restricted Shares	  	12

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
	 ARTICLE 7
	 	STOCK APPRECIATION RIGHTS	  	12
			
	 7.1
	 	General	  	12
			
	 7.2
	 	Nature of Stock Appreciation Right	  	12
			
	 7.3
	 	Exercise	  	13
			
	 7.4
	 	Form of Payment	  	13
			
	 7.5
	 	Limitation on Number of Stock Appreciation Rights	  	13
			
	 ARTICLE 8
	 	RESTRICTED AWARDS	  	13
			
	 8.1
	 	Types of Restricted Awards	  	13
			
	 8.2
	 	General	  	14
			
	 8.3
	 	Restriction Period	  	14
			
	 8.4
	 	Forfeiture	  	14
			
	 8.5
	 	Settlement of Restricted Awards	  	14
			
	 8.6
	 	Rights as a Shareholder	  	15
			
	 ARTICLE 9
	 	OTHER STOCK-BASED AND COMBINATION AWARDS	  	15
			
	 9.1
	 	Other Stock-Based Awards	  	15
			
	 9.2
	 	Combination Awards	  	15
			
	 ARTICLE 11
	 	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION, ETC.	  	15
			
	 11.1
	 	Plan Does Not Restrict the Corporation	  	15
			
	 11.2
	 	Mandatory Adjustment	  	16
			
	 11.3
	 	Adjustments by the Committee	  	16
			
	 ARTICLE 12
	 	AMENDMENT AND TERMINATION	  	16
			
	 ARTICLE 13
	 	MISCELLANEOUS	  	16
			
	 13.1
	 	Tax Withholding	  	16
			
	 13.2
	 	Unfunded Plan	  	17
			
	 13.3
	 	Fractional Shares	  	17
			
	 13.4
	 	Annulment of Awards	  	17
			
	 13.5
	 	Engaging in Competition With the Corporation	  	17
			
	 13.6
	 	Other Corporation Benefit and Compensation Programs	  	17

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
	 13.7
	 	Securities Law Restrictions	  	18
			
	 13.8
	 	Continuing Restriction Agreement	  	18
			
	 13.9
	 	Governing Law	  	18

  
 iii 

 2012 EQUITY INCENTIVE PLAN 

ARTICLE 1 
 ESTABLISHMENT AND
PURPOSE 
 1.1 Establishment. CytoDyn Inc., a Delaware corporation (the “Corporation”), hereby establishes the CytoDyn Inc. 2012 Equity
Incentive Plan (the “Plan”), effective as of December 12, 2012 (the “Effective Date”). The original Plan was adopted by the Board of Directors on October 26, 2012 and approved by the shareholders on December 12,
2012. This Restatement incorporates Amendments No. 1-5 to the Plan. 
 1.2 Purpose. The purpose of the
Plan is to promote and advance the interests of the Corporation and its shareholders by enabling the Corporation to attract, retain, and reward employees, directors, and outside consultants of the Corporation and its subsidiaries. It is also
intended to strengthen the mutuality of interests between such employees, directors, and consultants and the Corporation’s shareholders. The Plan is designed to serve these purposes by offering stock options and other equity-based incentive
awards, thereby providing a proprietary interest in pursuing the long-term growth, profitability, and financial success of the Corporation. 

ARTICLE 2 
 DEFINITIONS 

2.1 Defined Terms. For purposes of the Plan, the following terms have the meanings set forth below: 

“Affiliate” means any parent corporation or subsidiary corporation of the Corporation, whether now or hereafter existing, as those terms are
defined in Sections 424(e) and (f), respectively, of the Code. 
 “Award” means an award or grant made to a Participant of Options,
Stock Appreciation Rights, Restricted Awards, or Other Stock-Based Awards pursuant to the Plan. 
 “Award Agreement” means an agreement as
described in Section 5.4. 
 “Board” means the Board of Directors of the Corporation. 

“Change in Control” means: 
 (i) Any one person
or entity, or more than one person or entity acting as a group (as defined in Treasury Regulation Section 1.409A-3), acquires ownership of stock of the Corporation that, together with stock previously
held by the acquiror, constitutes more than fifty (50%) percent of the total fair market value or total voting power of the Corporation’s stock. If any one person or entity, or more than one person or entity acting as a group, is
considered to own more than fifty (50%) percent of the total fair market value or total voting power of the Corporation’s stock, the acquisition of additional stock by the same person or entity or persons or entities acting as a group does
not cause a Change in Control. An increase in the percentage of stock owned by any one person or entity, or persons or entities acting as a group, as a result of a transaction in which the Corporation acquires its stock in exchange for property, is
treated as an acquisition of stock; 

  

					
	2012 Equity Incentive Plan	  	 1
	  	

 
or (ii) A majority of the members of the Corporation’s board of directors is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed
by a majority of the members of the board of directors prior to the date of appointment or election; or (iii) Any one person or entity, or more than one person or entity acting as a group, acquires (or has acquired during the twelve
(12) month period ending on the date of the most recent acquisition by that person or entity or persons or entities acting as a group) assets from the Corporation that have a total gross fair market value equal to at least forty
(40%) percent of the total gross fair market value of all the Corporation’s assets immediately prior to the acquisition or acquisitions. Gross fair market value means the value of the Corporation’s assets, or the value of the assets
being disposed of, without regard to any liabilities associated with these assets. 
 In determining whether a Change in Control occurs, the attribution
rules of Code Section 318 apply to determine stock ownership. The stock underlying a vested option is treated as owned by the individual who holds the vested option, and the stock underlying an unvested option is not treated as owned by the
individual who holds the unvested option. 
 “Change in Control Date” means the date a Change in Control actually occurs. 

“Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, or any successor statute, together with rules,
regulations, and interpretations promulgated thereunder. 
 “Committee” means the committee appointed by the Board, if any, to administer
the Plan as provided in Article 3 of the Plan. If no separate committee has been appointed to administer the Plan, the term “Committee” will refer to the full Board as administrator of the Plan. 

“Common Stock” means the common stock of the Corporation. 

“Consultant” means any consultant or adviser to the Corporation or an Affiliate selected by the Committee, who is not an employee of the
Corporation or an Affiliate. 
 “Continuing Restriction” means a Restriction contained in Sections 5.5(d), 5.5(g), 13.4, 13.5, 13.7
and 13.8 of the Plan and any other Restrictions expressly designated by the Committee in an Award Agreement as a Continuing Restriction. 

“Continuous Service” means that the Participant’s service with the Corporation, or an Affiliate whether as an Employee, Non-Employee Director or Consultant, is not interrupted or terminated. The Committee may in its sole discretion determine whether Continuous Service shall be considered interrupted in the case of (i) any leave
of absence approved by the Corporation, including sick leave, maternity leave, military leave or any other personal leave, or (ii) a change in the capacity in which the Participant renders services to the Corporation or an Affiliate. 

  

					
	2012 Equity Incentive Plan	  	 2
	  	

 “Corporation” means CytoDyn Inc., a Delaware corporation, or any successor corporation.

 “Disability” means the condition of being “disabled” within the meaning of Section 22(e)(3) of the Code. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute, together with
rules and interpretations promulgated thereunder. 
 “Fair Market Value” means, on any given day, the fair market value per share of the
Common Stock determined as follows: 
 (a) If the Common Stock is traded on an established securities exchange, including without limitation The Nasdaq
Stock Market or any successor market thereto, the closing sale price of Common Stock as reported for such day by the principal exchange on which the Common Stock is traded (as determined by the Committee) or, if Common Stock was not traded on such
day, on the next preceding day on which the Common Stock was traded; 
 (b) If trading activity in the Common Stock is reported on an established over-the-counter market, including without limitation the OTC Markets or any successor market thereto, the closing sale price of Common Stock as reported for such day by the
principal market on which the Common Stock is traded (as determined by the Committee) or, if Common Stock was not traded on such day, on the next preceding day on which the Common Stock was traded; 

(c) If there is no market for the Common Stock or if trading activities for the Common Stock are not reported in one of the manners described above, the Fair
Market Value will be as determined by the Committee, including valuation by an independent appraisal that satisfies the requirements of Code Section 401(a)(28)(C) as of a date that is no more than twelve (12) months before the date of the
transaction for which the appraisal is used (e.g., the date of grant of an Award) or such other reasonable valuation method acceptable under Treasury Regulation Section 1.409A-1(b)(5)(iv). 

“Incentive Stock Option” or “ISO” means any Option intended to be an “incentive stock option” within the meaning
of Section 422 of the Code. 
 “Non-Employee Director” means a member of the Board who is not
an employee of the Corporation or any Affiliate. 
 “Nonqualified Option” or “NQO” means any Option granted pursuant to
the Plan that is not an Incentive Stock Option. 
 “Option” means an ISO or an NQO. 

  

					
	2012 Equity Incentive Plan	  	 3
	  	

 “Other Stock-Based Award” means an Award as defined in Section 9.1. 

“Participant” means an employee of the Corporation or an Affiliate, a Consultant or a Non-Employee
Board Director who is granted an Award under the Plan. 
 “Plan” means this CytoDyn Inc. Amended and Restated 2012 Equity Incentive Plan,
as set forth herein and as it may be amended from time to time. 
 “Reporting Person” means a Participant who is subject to the reporting
requirements of Section 16(a) of the Exchange Act. 
 “Restricted Award” means a Restricted Share or a Restricted Unit granted
pursuant to Article 8 of the Plan. 
 “Restricted Share” means an Award described in Section 8.1(a) of the Plan. 

“Restricted Unit” means an Award of units representing Shares described in Section 8.1(b) of the Plan. 

“Restriction” means a provision in the Plan or in an Award Agreement which limits the exercisability or transferability, or which governs the
forfeiture or required sale, of an Award or Shares, cash, or other property payable pursuant to an Award. 
 “Share” means a share of
Common Stock. 
 “Stock Appreciation Right” or “SAR” means an Award to benefit from the appreciation of Common Stock
granted pursuant to the provisions of Article 7 of the Plan. 
 “Vest,” “Vesting,” or “Vested” means:

 (a) In the case of an Award that requires exercise, to be or to become immediately and fully exercisable and free of all Restrictions (other than
Continuing Restrictions); 
 (b) In the case of an Award that is subject to forfeiture, to be or to become nonforfeitable, freely transferable, and free of
all Restrictions (other than Continuing Restrictions); 
 (c) In the case of an Award that is required to be earned by attaining specified performance
goals, to be or to become earned and nonforfeitable, freely transferable, and free of all Restrictions (other than Continuing Restrictions); or 
 (d) In
the case of any other Award as to which payment is not dependent solely upon the exercise of a right, election, or option, to be or to become immediately payable and free of all Restrictions (except Continuing Restrictions). 

  

					
	2012 Equity Incentive Plan	  	 4
	  	

 2.2 Gender and Number. Except where otherwise indicated by the context, any masculine or feminine
terminology used in the Plan also includes the opposite gender; and the definition of any term in Section 2.1 in the singular also includes the plural, and vice versa. 

ARTICLE 3 
 ADMINISTRATION

 3.1 Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as
provided in Section 3.2. The body administering the plan from time to time is referred to herein as the “Committee.” 
 3.2 Delegation to
Committee. The Board may delegate administration of the Plan to a Committee or Committees of one (1) or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been
delegated. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to further delegate administrative powers,
subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and re-vest in the
Board the administration of the Plan. 
 3.3 Authority of the Committee. The Committee has full power and authority (subject to such orders or
resolutions as may be issued or adopted from time to time by the Board in the event of delegation to a board committee) to administer the Plan in its sole discretion, including the authority to: 

(a) Construe and interpret the Plan and any Award Agreement; 

(b) Promulgate, amend, and rescind rules and procedures relating to the implementation of the Plan; 

(c) Select the employees, Non-Employee Directors, and Consultants who will be granted Awards; 

(d) Determine the number and types of Awards to be granted to each Participant; 

(e) Determine the number of Shares, or Share equivalents, to be subject to each Award; 

(f) Determine the Fair Market Value of Shares if no public market exists for such Shares; 

(g) Determine the option price, purchase price, base price, or similar feature for any Award 

(h) Accelerate Vesting of Awards and waive any Restrictions; and 

  

					
	2012 Equity Incentive Plan	  	5	  	

 (i) Determine all the terms and conditions of all Award Agreements, consistent with the requirements of the
Plan. 
 Decisions of the Committee, or any delegate as permitted by the Plan, will be final, conclusive, and binding on all Participants. 

3.4 Action by the Committee. A majority of the members of the Committee will constitute a quorum for the transaction of business. Action approved by a
majority of the members present at any meeting at which a quorum is present, or action in writing by all of the members of the Committee, will be the valid acts of the Committee. 

3.5 Further Delegation. Notwithstanding the foregoing, the Committee may delegate to one or more officers of the Corporation the authority to determine
the recipients, types, amounts, and terms of Awards granted to Participants who are not Reporting Persons. 
 ARTICLE 4 

DURATION; SHARES SUBJECT TO THE PLAN; ELIGIBILITY 

4.1 Duration of the Plan. The Plan is effective as of the Effective Date. The Plan will terminate ten years after the Effective Date or, if earlier,
when Awards have been granted covering all available Shares or the Plan is otherwise terminated by the Board. Termination of the Plan will not affect outstanding Awards. 

4.2 Prior Plans. The Plan is separate from the CytoDyn Inc. 2004 Stock Incentive Plan (the “Prior Plan”). The adoption of the Plan neither
affects nor is affected by the continued existence of the Prior Plan except that no further Awards will be granted under the Prior Plan after the Effective Date. 

4.3 Shares Subject to the Plan. The Shares which may be made subject to Awards under the Plan are Shares of Common Stock, which may be either
authorized and unissued Shares or reacquired Shares. Subject to adjustment pursuant to Article 11, the maximum number of Shares for which Awards may be granted under the Plan is 25,000,000, all of which may be issued under the Plan through
Incentive Stock Options. If an Award under the Plan is canceled or expires for any reason prior to having been fully Vested or exercised by a Participant, is settled in cash in lieu of Shares or is exchanged for other Awards, or is otherwise
forfeited or terminated, all Shares covered by such Awards will be added back into the number of Shares available for future Awards under the Plan. In addition, if the exercise price of any Option granted under the Plan is satisfied by tendering
Shares to the Corporation, only the number of Shares issued net of Shares tendered to the Corporation shall be deemed delivered for purposes of determining the maximum number of Shares available under the Plan. 

4.4 Reservation of Shares. The Corporation, during the term of the Plan and outstanding Awards, will at all times reserve and keep available such
number of Shares as shall be sufficient to satisfy the requirements of the Plan. 

  

					
	2012 Equity Incentive Plan	  	6	  	

 4.5 Eligibility. Employees of the Corporation and any subsidiary (including employees who may also be
directors of the Corporation or a subsidiary), Consultants, and Non-Employee Directors are eligible to receive Awards under the Plan. 

ARTICLE 5 
 AWARDS 

5.1 Types of Awards. The types of Awards that may be granted under the Plan are: 

(a) Options governed by Article 6 of the Plan; 
 (b) Stock
Appreciation Rights governed by Article 7 of the Plan; 
 (c) Restricted Awards governed by Article 8 of the Plan; and 

(d) Other Stock-Based Awards or combination awards governed by Article 9 of the Plan. 

In the discretion of the Committee, any Award may be granted alone, in addition to, or in tandem with other Awards under the Plan. 

5.2 General. Subject to the limitations of the Plan, the Committee may cause the Corporation to grant Awards to such Participants, at such times, of
such types, in such amounts, for such periods, with such option prices, purchase prices, or base prices, and subject to such terms, conditions, limitations, and restrictions as the Committee, in its discretion, deems appropriate. Awards may be
granted as additional compensation to a Participant or in lieu of other compensation to such Participant. A Participant may receive more than one Award and more than one type of Award under the Plan. 

5.3 Nonuniform Determinations. The Committee’s determinations under the Plan or under one or more Award Agreements, including, without limitation,
(a) the selection of Participants to receive Awards, (b) the type, form, amount, and timing of Awards, (c) the terms of specific Award Agreements, and (d) elections and determinations made by the Committee with respect to
exercise or payments of Awards, need not be uniform and may be made by the Committee selectively among Participants and Awards, whether or not Participants are similarly situated. 

5.4 Award Agreements. Each Award will be evidenced by a written agreement (an “Award Agreement”) between the Corporation and the Participant.
Award Agreements may, subject to the provisions of the Plan, contain any provision approved by the Committee. 
 5.5 Provisions Governing All Awards.
All Awards are subject to the following provisions: 
 (a) Alternative Awards. If any Awards are designated in their Award Agreements as alternative
to each other, the exercise of all or part of one Award will automatically cause an immediate equal (or pro rata) corresponding termination of the other alternative Award or Awards. 

  

					
	2012 Equity Incentive Plan	  	7	  	

 (b) Rights as Shareholders. No Participant will have any rights of a shareholder with respect to
Shares subject to an Award until such Shares are issued in the name of the Participant. 
 (c) Employment Rights. Neither the adoption of the Plan
nor the granting of any Award confers on any person the right to continued employment with the Corporation or any Affiliate or the right to remain as a director of or a Consultant to the Corporation or any Affiliate, as the case may be, nor does it
interfere in any way with the right of the Corporation or an Affiliate to terminate such person’s employment or to remove such person as a Consultant or as a director at any time for any reason, with or without cause. 

(d) Restriction on Transfer. Unless otherwise expressly provided in an individual Award Agreement, each Award (other than Restricted Shares after they
Vest) will not be transferable other than by will or the laws of descent and distribution and will be exercisable (if exercise is required), during the lifetime of the Participant, only by the Participant or, in the event the Participant becomes
legally incompetent, by the Participant’s guardian or legal representative. Notwithstanding the foregoing, any Award may be surrendered to the Corporation pursuant to Section 5.5(h) in connection with the payment of the purchase or option
price of another Award or the payment of the Participant’s federal, state, or local tax withholding obligation with respect to the exercise or payment of another Award. 

(e) Termination of Employment. The terms and conditions under which an Award may be exercised, if at all, after a Participant’s termination of
employment or service as a Non-Employee Board Director or Consultant will be determined by the Committee and specified in the applicable Award Agreement. 

(f) Change in Control. In connection with a Change in Control, the Committee, in its sole discretion, may, unless otherwise provided in an Award
Agreement: 
 (i) Provide that, upon the occurrence of a Change in Control Date, each outstanding Award will become immediately Vested to the full extent
not previously Vested. Any such acceleration of Award Vesting must comply with applicable regulatory requirements and any Participant will be entitled to decline the accelerated Vesting of all or any portion of his or her Award, if he or she
determines that such acceleration may result in adverse tax consequences to him or her; and 

  

					
	2012 Equity Incentive Plan	  	8	  	

 (ii) In the event the Board approves a proposal that will result in a Change in Control or a Change in
Control Date occurs (each, a “Transaction”), the Committee may, in its sole discretion, and to the extent possible under the structure of the Transaction, select one of the following alternatives for treating outstanding Awards under the
Plan: 
 (A) The Committee may provide that outstanding Awards will be converted into or replaced by Awards of a similar type in the stock of the surviving
or acquiring corporation in the Transaction. The amount and type of securities subject to and the exercise price (if applicable) of the replacement or converted Awards will be determined by the Committee based on the exchange ratio, if any, used in
determining shares of the surviving corporation to be issued to holders of Shares of the Corporation. If there is no exchange ratio in the Transaction, the Committee will, in making its determination, take into account the relative values of the
companies involved in the Transaction and such other factors as the Committee deems relevant. Such replacement or converted Awards will continue to Vest over the period (and at the same rate) as the Awards which the replacement or converted Awards
replaced, unless determined otherwise by the Committee; or 
 (B) The Committee may provide a 10-day period prior to
the consummation of the Transaction during which all outstanding Awards will tentatively become fully Vested, and upon consummation of such Transaction, all outstanding and unexercised Awards will immediately terminate. If the Committee elects to
provide such 10-day period for the exercise of Awards, the Committee must provide written notice (a “Proposal Notice”) to all Participants at least 15 days prior to the commencement of such 10-day period and must so state its intention to terminate all unexercised Awards. Participants, by written notice to the Corporation, may exercise their Awards and, in so exercising the Awards, may condition such
exercise upon, and provide that such exercise will become effective immediately prior to, the consummation of the Transaction, in which event Participants need not make payment for any Common Stock to be purchased upon exercise of an Award until
five days after written notice by the Corporation to the Participants that the Transaction has been consummated. If the Transaction is consummated, each Award, to the extent not previously exercised prior to the consummation of the Transaction, will
terminate and cease being exercisable as of the effective date of such Transaction. If the Transaction is abandoned, (1) all outstanding Awards not exercised will continue to be Vested and exercisable, to the extent such Awards were Vested and
exercisable prior to the date of a Proposal Notice, and (2) to the extent that any Awards not exercised prior to such abandonment have become Vested and exercisable solely by operation of this Section 5.5(f)(ii), such Vesting and
exercisability will be deemed annulled, and the Vesting and exercisability provisions otherwise in effect will be reinstituted, as of the date of such abandonment; or 

  

					
	2012 Equity Incentive Plan	  	9	  	

 (C) The Committee may provide that outstanding Awards that are not fully Vested will become fully Vested
subject to the Corporation’s right to pay each Participant a cash amount (determined by the Committee and based on the amount, if any, being received by the Corporation’s shareholders in the Transaction) in exchange for cancellation of the
applicable Award. 
 Unless the Committee specifically provides otherwise in a Change in Control provision for a specific Award Agreement, Awards will
become Vested as of a Change in Control Date only if, or to the extent, such acceleration in the Vesting of the Awards does not result in an “excess parachute payment” within the meaning of Section 280G(b) of the Code. The Committee,
in its discretion, may include specific Change in Control provisions in some Award Agreements and not in others, may include different Change in Control provisions in different Award Agreements, and may include Change in Control provisions for some
Awards or some Participants and not for others. 
 (g) Conditioning or Accelerated Benefits. The Committee, in its discretion, may include in any
Award Agreement a provision conditioning or accelerating the Vesting of an Award or the receipt of benefits pursuant to an Award, either automatically or in the discretion of the Committee, upon the occurrence of specified events, including without
limitation, a Change in Control of the Corporation (subject to the foregoing), a sale of all or substantially all of the property and assets of Corporation, or an event of the type described in Article 11 of this Plan. 

(h) Payment of Purchase Price and Withholding. The Committee, in its discretion, may include in any Award Agreement a provision permitting the
Participant to pay the purchase or option price, if any, for Shares or other property issuable pursuant to the Award, in whole or in part by any one or more of the following methods; provided, however, that the availability of any one or more
methods of payment may be suspended from time to time if the Committee determines that the use of such payment method would result in adverse financial accounting treatment for the Corporation or a violation of laws or regulations applicable to the
Corporation: 
 (i) By delivering cash or a check; 
 (ii) By
delivering previously owned Shares (including Restricted Shares, whether or not Vested); 
 (iii) By reducing the number of Shares or other property
otherwise Vested and issuable pursuant to the Award; 
 (iv) Unless specifically prohibited by any applicable statute or rule, including, without
limitation, the provisions of the Sarbanes-Oxley Act of 2002, by delivering to the Corporation a promissory note on such terms and over such period as the Committee may determine; 

(v) In the event Shares are publicly traded, by delivery (in a form approved by the Committee) of an irrevocable direction to a securities broker acceptable
to the Committee (subject to the provisions of the Sarbanes-Oxley Act of 2002 and any other applicable statute or rule); or 

  

					
	2012 Equity Incentive Plan	  	10	  	

 (vi) In any combination of the foregoing or in any other form approved by the Committee. 

If Restricted Shares are surrendered in full or partial payment of the purchase or option price of Shares issuable under an Award, a corresponding number of
the Shares issued upon exercise of the Award will be Restricted Shares subject to the same Restrictions as the surrendered Restricted Shares. Shares withheld or surrendered as described above will be valued based on their Fair Market Value on the
date of the transaction. Any Shares withheld or surrendered with respect to a Reporting Person will be subject to such additional conditions and limitations as the Committee may impose to comply with the requirements of the Exchange Act. 

(i) Service Periods. At the time of granting an Award, the Committee may specify, by resolution or in the Award Agreement, the period or periods of
service performed or to be performed by the Participant in connection with the grant of the Award. 
 ARTICLE 6 

OPTIONS 
 6.1 Types of Options.
Options granted under the Plan may be in the form of Incentive Stock Options or Nonqualified Options. The grant of each Option and the Award Agreement governing each Option will identify the Option as an ISO or an NQO. In the event the Code is
amended to provide for tax-favored forms of stock options other than or in addition to Incentive Stock Options, the Committee may grant Options under the Plan meeting the requirements of such forms of options.
ISOs may not be awarded unless the Plan is approved by shareholders within 12 months of adoption of the Plan. 
 6.2 General. All Options will be
subject to the terms and conditions set forth in Article 5 and this Article 6 and Award Agreements governing Options may contain such additional terms and conditions, not inconsistent with the express provisions of the Plan, as the Committee deems
desirable. 
 6.3 Option Price. Each Award Agreement for Options will state the option exercise price per Share of Common Stock purchasable under the
Option, which may not be less than 100 percent of the Fair Market Value of a Share on the date of grant for all Options. 
 6.4 Option Term. The
Award Agreement for each Option will specify the term of each Option, which may be unlimited or may have a specified period during which the Option may be exercised, as determined by the Committee, provided, however, that no ISO may be exercisable
after the expiration of 10 years from the date such ISO is granted. 

  

					
	2012 Equity Incentive Plan	  	11	  	

 6.5 Time of Exercise. The Award Agreement for each Option will specify, as determined by the
Committee: 
 (a) The time or times when the Option becomes exercisable and whether the Option becomes exercisable in full or in graduated amounts based on:
(i) continuation of employment over a period specified in the Award Agreement, (ii) satisfaction of performance goals or criteria specified in the Award Agreement, or (iii) a combination of continuation of employment and satisfaction
of performance goals or criteria; and 
 (b) Such other terms, conditions, and restrictions as to when the Option may be exercised as determined by the
Committee. 
 (c) The extent, if any, to which the Option will remain exercisable after the Participant ceases to be an employee, Consultant, or director of
Corporation or an Affiliate. 
 An Award Agreement for an Option may, in the discretion of the Committee, provide whether, and to what extent, the time when
an Option becomes exercisable may be accelerated or otherwise modified (i) in the event of the death, Disability, or retirement of the Participant or (ii) upon the occurrence of a Change in Control. The Committee may, at any time in its
discretion, accelerate the time when all or any portion of an outstanding Option becomes exercisable. 
 6.6 Special Rules for Incentive Stock
Options. In the case of an Option designated as an Incentive Stock Option, the terms of the Option and the Award Agreement will conform with the statutory and regulatory requirements specified pursuant to Section 422 of the Code, as in
effect on the date such ISO is granted. ISOs may be granted only to employees of the Corporation or an Affiliate. ISOs may not be granted under the Plan after ten years following the date specified in Section 1.1, unless the ten-year limitation of Section 422(b)(2) of the Code is removed or extended. 
 6.7 Restricted Shares. In the
discretion of the Committee, the Shares issuable upon exercise of an Option may be Restricted Shares if so provided in the Award Agreement for the Option. 

ARTICLE 7 
 STOCK APPRECIATION
RIGHTS 
 7.1 General. Stock Appreciation Rights are subject to the terms and conditions set forth in Article 5 and this Article 7 and Award
Agreements governing Stock Appreciation Rights may contain such additional terms and conditions, not inconsistent with the express terms of the Plan, as the Committee deems desirable. 

7.2 Nature of Stock Appreciation Right. A Stock Appreciation Right is an Award entitling a Participant to receive an amount equal to the excess (or, if
the Committee determines at the time of grant, a portion of the excess) of the Fair Market Value of a Share of Common Stock on the date of exercise of the SAR over the base price, as described below, on the date of grant of the SAR, multiplied by
the number of Shares with respect to which the SAR is being exercised. The base price will be designated by the Committee in the Award Agreement for the SAR and may be the Fair Market Value of a Share on the grant date of the SAR or such other
higher price as the Committee determines. The base price may not be less than the Fair Market Value of a Share on the grant date of the SAR. 

  

					
	2012 Equity Incentive Plan	  	12	  	

 7.3 Exercise. A Stock Appreciation Right may be exercised by a Participant in accordance with
procedures established by the Committee. The Committee may also provide that a SAR will be automatically exercised on one or more specified dates or upon the satisfaction of one or more specified conditions. 

7.4 Form of Payment. Payment upon exercise of a Stock Appreciation Right may be made in cash, in Shares, in other property, or in any combination of
the foregoing, or in any other form as the Committee may determine. 
 7.5 Limitation on Number of Stock Appreciation Rights. The maximum number of
Shares with respect to which Stock Appreciation Rights may be granted to any individual under the Plan during any calendar year is 3,000,000. To the extent required by Section 162(m) of the Code, if any SAR is canceled, the canceled SAR shall
continue to be counted against the maximum number of Shares for which SARs may be granted to an individual under the Plan. 
 ARTICLE 8 

RESTRICTED AWARDS 
 8.1 Types of
Restricted Awards. Restricted Awards granted under the Plan may be in the form of either Restricted Shares or Restricted Units. 
 (a) Restricted
Shares. A Restricted Share is an Award of Shares to a Participant subject to such terms and conditions as the Committee deems appropriate, including, without limitation, a requirement that the Participant forfeit such Restricted Shares back to
the Corporation upon termination of Participant’s employment (or service as a Non-Employee Board Director or Consultant) for specified reasons within a specified period of time or upon other conditions,
including failure to achieve performance goals, as set forth in the Award Agreement for such Restricted Shares. Each Participant receiving a Restricted Share will be issued a stock certificate in respect of such Shares, registered in the name of
such Participant, and will execute a stock power in blank with respect to the Shares evidenced by such certificate. The certificate evidencing such Restricted Shares and the stock power will be held in custody by the Corporation until the
Restrictions have lapsed. 
 (b) Restricted Units. A Restricted Unit is an Award of units (with each unit having a value equivalent to one Share)
granted to a Participant subject to such terms and conditions as the Committee deems appropriate, and may include a requirement that the Participant forfeit such Restricted Units upon termination of Participant’s employment (or service as a Non-Employee Board Director or Consultant) for specified reasons within a specified period of time or upon other conditions, as set forth in the Award Agreement for such Restricted Units. The Committee will set the
terms and conditions of the Award Agreement so that the Restricted Unit Award will comply with or be exempt from Code Section 409A. 
 8.2
General. Restricted Awards are subject to the terms and conditions of Article 5 and this Article 8 and Award Agreements governing Restricted Awards may contain such additional terms and conditions, not inconsistent with the express provisions
of the Plan, as the Committee deems desirable. 

  

					
	2012 Equity Incentive Plan	  	13	  	

 8.3 Restriction Period. Award Agreements for Restricted Awards will provide that Restricted Awards,
and the Shares subject to Restricted Awards, may not be transferred, and may provide that, in order for a Participant to Vest in such Restricted Awards, the Participant must remain in the employment (or remain as a
Non-Employee Board Director or Consultant) of the Corporation or its Affiliates, subject to relief for reasons specified in the Award Agreement, for a period commencing on the grant date of the Award and
ending on such later date or dates as the Committee may designate at the time of the Award (the “Restriction Period”). During the Restriction Period, a Participant may not sell, assign, transfer, pledge, encumber, or otherwise dispose of
Shares received under or governed by a Restricted Award grant. The Committee, in its sole discretion, may provide for the lapse of restrictions in installments during the Restriction Period. In addition, the Committee, in its discretion, may
condition Vesting of Restricted Awards on continued employment (or service as a Non-Employee Board Director or Consultant) or attainment of performance goals, or both. 

8.4 Forfeiture. If a Participant ceases to be an employee (or Consultant or Non-Employee Director) of the
Corporation or an Affiliate during the Restriction Period for any reason other than reasons which may be specified in an Award Agreement, the Award Agreement may require that all non-Vested Restricted Awards
previously granted to the Participant be forfeited and returned to the Corporation. 
 8.5 Settlement of Restricted Awards. 

(a) Restricted Shares. Upon Vesting of a Restricted Share Award, the restrictive stock legend on certificates for such Shares covering applicable
Restrictions will be removed, the Participant’s stock power will be returned, and the Shares will no longer be Restricted Shares. 
 (b) Restricted
Units. Upon Vesting of a Restricted Unit Award, a Participant is entitled to receive payment for Restricted Units in an amount equal to the aggregate Fair Market Value of the Shares covered by such Restricted Units at the expiration of the
Applicable Restriction Period. Payment in settlement of a Restricted Unit will be made as soon as practicable following the conclusion of the applicable Restriction Period in cash, in installments, in Restricted Shares or unrestricted Shares equal
to the number of Restricted Units or in any other manner or combination as the Committee, in its sole discretion, determines. 

  

					
	2012 Equity Incentive Plan	  	14	  	

 8.6 Rights as a Shareholder. A Participant has, with respect to unforfeited Shares received under a
grant of Restricted Shares, all the rights of a shareholder of the Corporation, including the right to vote the shares and the right to receive any cash dividends. Stock dividends issued with respect to Restricted Shares will be treated as
additional Shares covered by the grant of Restricted Shares and will be subject to the same Restrictions. A Participant will have no rights as a shareholder with respect to a Restricted Unit Award until Shares are issued to the Participant in
settlement of the Award. 
 ARTICLE 9 

OTHER STOCK-BASED AND COMBINATION AWARDS 

9.1 Other Stock-Based Awards. The Committee may grant other Awards under the Plan pursuant to which Shares are or may in the future be acquired, or
Awards denominated in or measured by Share equivalent units, including Awards valued using measures other than the market value of Shares. Other Stock-Based Awards are not restricted to any specific form or structure and may include, without
limitation, Share purchase warrants, other rights to acquire Shares, and securities convertible into or redeemable for Shares. Such Other Stock-Based Awards may be granted either alone, in addition to, or in tandem with, any other type of Award
granted under the Plan. 
 9.2 Combination Awards. The Committee may also grant Awards under the Plan in tandem or combination with other Awards or
in exchange of Awards, or in tandem or combination with, or as alternatives to, grants or rights under any other employee plan of the Corporation, including the plan of any acquired entity. No action authorized by this section will reduce the amount
of any existing benefits or change the terms and conditions thereof without the Participant’s consent. 
 ARTICLE 10 

DIVIDEND EQUIVALENTS 
 Any Awards may, at
the discretion of the Committee, earn dividend equivalents. In respect of any such Award which is outstanding on a dividend record date for Common Stock, the Participant may be credited with an amount equal to the amount of cash or stock dividends
that would have been paid on the Shares covered by such Award, had such covered Shares been issued and outstanding on such dividend record date. The Committee will establish such rules and procedures governing the crediting of dividend equivalents,
including the timing, form of payment, and payment contingencies of such dividend equivalents, as it deems appropriate or necessary. 

ARTICLE 11 
 ADJUSTMENTS UPON
CHANGES IN CAPITALIZATION, ETC. 
 11.1 Plan Does Not Restrict the Corporation. The existence of the Plan and the Awards granted under the Plan
will not affect or restrict in any way the right or power of the Board or the shareholders of the Corporation to make or authorize any adjustment, recapitalization, reorganization, or other change in the Corporation’s capital structure or its
business, any merger 

  

					
	2012 Equity Incentive Plan	  	15	  	

 
or consolidation of the Corporation, any issue of bonds, debentures, preferred or prior preference stocks ahead of or affecting the Corporation’s capital stock or the rights thereof, the
dissolution or liquidation of the Corporation or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding. 

11.2 Mandatory Adjustment. In the event of any stock dividend, stock split, reverse stock split, recapitalization, reclassification, or other
distribution of the Corporation’s securities without the receipt of consideration by the Corporation, of or on the Common Stock, the Committee shall make proportionate adjustments or substitution to the aggregate number and type of Shares for
which Awards may be granted under the Plan, the maximum number and type of Shares which may be sold or awarded to any Participant, the number and type of Shares covered by each outstanding Award, and the base price or purchase price per Share in
respect of outstanding Awards. 
 11.3 Adjustments by the Committee. In the event of any change in capitalization affecting the Common Stock of the
Corporation not described in Section 11.2 above, such proportionate adjustments, if any, as the Committee, in its sole discretion, may deem appropriate to reflect such change, will be made with respect to the aggregate number of Shares for
which Awards in respect thereof may be granted under the Plan, the maximum number of Shares which may be sold or awarded to any Participant, the number of Shares covered by each outstanding Award, and the base price or purchase price per Share in
respect of outstanding Awards. The Committee may also make such adjustments in the number of Shares covered by, and price or other value of, any outstanding Awards in the event of a spin-off or other
distribution (other than normal cash dividends), of the Corporation assets to shareholders. 
 ARTICLE 12 

AMENDMENT AND TERMINATION 
 The Board may
amend, suspend, or terminate the Plan or any portion of the Plan at any time, provided that no amendment may be made without shareholder approval if such approval is required by applicable law or the requirements of an applicable stock exchange or
registered securities association. 
 ARTICLE 13 

MISCELLANEOUS 
 13.1 Tax
Withholding. The Corporation has the right to deduct from any settlement of any Award under the Plan, including the delivery or Vesting of Shares or Awards, any federal, state, or local taxes of any kind required by law to be withheld with
respect to such payments or to take such other action as may be necessary in the opinion of the Corporation to satisfy all obligations for the payment of such taxes. The recipient of any payment or distribution under the Plan has the obligation to
make arrangements satisfactory to the Corporation for the satisfaction of any such tax withholding obligations. The Corporation will not be required to make any such payment or distribution under the Plan until such obligations are satisfied. 

  

					
	2012 Equity Incentive Plan	  	16	  	

 13.2 Unfunded Plan. The Plan will be unfunded and the Corporation will not be required to segregate
any assets that may at any time be represented by Awards under the Plan. Any liability of the Corporation to any person with respect to any Award under the Plan will be based solely upon any contractual obligations that may be effected pursuant to
the Plan. No such obligation of the Corporation will be deemed to be secured by any pledge of, or other encumbrance on, any property of the Corporation. 

13.3 Fractional Shares. No fractional Shares of Common Stock will be issued or delivered under the Plan or any Option, Options granted under the Plan
will not be exercisable with respect to fractional Shares. In lieu of such fractional Shares, the Corporation will pay an amount in cash equal to the same fraction using the current market value of a Share of Common Stock. 

13.4 Annulment of Awards. Any Award Agreement may provide that the grant of an Award payable in cash is revocable until cash is paid in settlement
thereof or that grant of an Award payable in Shares is revocable until the Participant becomes entitled to the certificate in settlement thereof. In the event Participant’s employment (or services as a
Non-Employee Director or Consultant) terminates for cause (as defined below), any Award which is revocable will be annulled as of the date of such termination for cause. For the purpose of this
Section 13.4, the term “for cause” has the meaning set forth in the Participant’s employment agreement, if any, or otherwise means any discharge (or removal) for material or flagrant violation of the policies and procedures of
the Corporation or for other performance or conduct which is materially detrimental to the best interests of the Corporation, as determined by the Committee. 

13.5 Engaging in Competition With the Corporation. Any Award Agreement may provide that, if a Participant terminates employment (or service as a Non-Employee Board Director or Consultant) with the Corporation or an Affiliate for any reason whatsoever, and within a period of time (as specified in the Award Agreement) after the date thereof accepts employment
with any competitor of (or otherwise engages in competition with) the Corporation, the Committee, in its sole discretion, may require such Participant to return to the Corporation the economic value of any Award that is realized or obtained
(measured at the date of exercise, Vesting, or payment) by such Participant at any time during the period beginning on the date that is one year prior to the date of such Participant’s termination of employment (or service as a Non-Employee Board Director or Consultant) with the Corporation. 
 13.6 Other Corporation Benefit and Compensation
Programs. Payments and other benefits received by a Participant under an Award made pursuant to the Plan are not to be deemed a part of a Participant’s regular, recurring compensation for purposes of the termination indemnity or severance
pay law of any state or country and will not be included in, or have any effect on, the determination of benefits under any other employee benefit plan or similar arrangement provided by the Corporation or an Affiliate unless expressly so provided
by such other plan or arrangements, or except where the Committee expressly determines that an Award or portion of an Award should be included to accurately reflect competitive compensation practices or to recognize that an Award has been made in
lieu of a portion of cash compensation. Awards under the Plan may be made in combination with or in tandem with, or as alternatives to, grants, awards, or payments under any other Corporation or Affiliate plans, arrangements, or programs. The Plan
notwithstanding, the Corporation or any Affiliate may adopt such other compensation programs and additional compensation arrangements as it deems necessary to attract, retain, and reward employees and directors for their service with the Corporation
and its Affiliates. 

  

					
	2012 Equity Incentive Plan	  	17	  	

 
13.7 Securities Law Restrictions. No Shares may be issued under the Plan unless counsel for the Corporation is satisfied that such issuance will be in compliance with applicable federal
and state securities laws. Certificates for Shares delivered under the Plan may be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities
and Exchange Commission, any stock exchange or registered securities association upon which the Common Stock is then listed or quoted, and any applicable federal or state securities laws. The Committee may cause a legend or legends to be put on any
such certificates to make appropriate reference to such restrictions. 
 13.8 Continuing Restriction Agreement. Each Participant will, if requested
by the Corporation and as a condition to issuance of Shares under the Plan upon an Award or exercise of an Award granted under the Plan that results in the issuance of Shares, become a party to and be bound by a stock restriction or other agreement
with the Corporation containing restrictions on transfer of Shares, including a right of first refusal for the benefit of the Corporation, a market stand-off provision, and such other terms as the Corporation
may reasonably require. 
 13.9 Governing Law. Except with respect to references to the Code or federal securities laws, the Plan and all actions
taken thereunder will be governed by and construed in accordance with the laws of the state of Delaware, without regard to principles of conflict of laws. 

  

					
	2012 Equity Incentive Plan	  	18

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