Document:

EX-10.15

 Exhibit 10.15 
  

 
 Employment agreement 

Nexvet Australia Pty Ltd 
 ACN 141
909 131 
 and 
 David Gearing

 Table of contents 
  

							
	1.	  	Definitions and interpretation	  	 	4	  
			
	1.1	  	Definitions	  	 	4	  
	1.2	  	Interpretation	  	 	7	  
			
	2.	  	Position	  	 	7	  
			
	3.	  	Status of agreement	  	 	7	  
			
	3.1	  	Replacement of Earlier Agreements	  	 	7	  
	3.2	  	Commencement date and term	  	 	8	  
			
	4.	  	Duties and Obligations	  	 	8	  
			
	4.1	  	Duties	  	 	8	  
	4.2	  	Obligations	  	 	8	  
	4.3	  	Other appointments	  	 	8	  
	4.4	  	Conflict of interest	  	 	9	  
	4.5	  	Company policies	  	 	9	  
	4.6	  	Common law duties	  	 	9	  
			
	5.	  	Employment locations	  	 	9	  
			
	6.	  	Hours of work	  	 	9	  
			
	7.	  	Remuneration	  	 	9	  
			
	7.1	  	Total Remuneration Package	  	 	9	  
	7.2	  	IPO Option Grant	  	 	10	  
	7.3	  	Annual Equity Award	  	 	11	  
	7.4	  	Offset	  	 	11	  
	7.5	  	Expenses	  	 	11	  
	7.6	  	Superannuation	  	 	12	  
	7.7	  	Annual review	  	 	12	  
	7.8	  	Bonus	  	 	12	  
	7.9	  	Legislative benefits	  	 	12	  
	7.10	  	Probation Period	  	 	12	  
			
	8.	  	Leave	  	 	12	  
			
	8.1	  	Annual leave	  	 	12	  
	8.2	  	Personal/Carer’s leave	  	 	13	  
	8.3	  	Parental leave	  	 	13	  
	8.4	  	Long service leave	  	 	13	  
	8.5	  	Public holidays	  	 	13	  
			
	9.	  	Termination of Employment	  	 	13	  
			
	9.1	  	Termination by the Company	  	 	13	  
	9.2	  	Notice period by the Employee	  	 	14	  
	9.3	  	Payment in lieu of notice	  	 	14	  
	9.4	  	Garden leave	  	 	14	  
	9.5	  	Summary dismissal	  	 	14	  
	9.6	  	Return of Company property	  	 	15	  
	9.7	  	Accrued entitlements on Termination	  	 	15	  
	9.8	  	Appointment of Company as attorney on termination of Employment	  	 	15	  
			
	10.	  	Confidential Information	  	 	15	  
			
	10.1	  	Acknowledgment of Employee	  	 	15	  
	10.2	  	Obligations of the Employee	  	 	15	  
	10.3	  	Unauthorised disclosure	  	 	16	  
	10.4	  	Confidentiality deed	  	 	16	  

							
	10.5	  	Survival	  	 	16	  
			
	11.	  	Intellectual Property	  	 	16	  
			
	12.	  	Moral Rights	  	 	17	  
			
	13.	  	Non-Competition	  	 	17	  
			
	13.1	  	Obligations of the Employee	  	 	17	  
	13.2	  	General	  	 	18	  
	13.3	  	Survival	  	 	19	  
			
	14.	  	Suspension	  	 	19	  
			
	15.	  	Changes to position, duties, remuneration, or location	  	 	19	  
			
	16.	  	Corporations Act	  	 	19	  
			
	17.	  	Dispute resolution	  	 	19	  
			
	17.1	  	Mediation	  	 	19	  
	17.2	  	Arbitration	  	 	19	  
	17.3	  	Location	  	 	20	  
			
	18.	  	Assignment	  	 	20	  
			
	18.1	  	Successors of Company	  	 	20	  
	18.2	  	Assignment for reconstruction or amalgamation	  	 	20	  
	18.3	  	References to Company to be references to assignee	  	 	20	  
			
	19.	  	General	  	 	20	  
			
	19.1	  	Entire understanding	  	 	20	  
	19.2	  	No adverse construction	  	 	20	  
	19.3	  	Further assurances	  	 	20	  
	19.4	  	No waiver	  	 	20	  
	19.5	  	Severability	  	 	21	  
	19.6	  	Consents and approvals	  	 	21	  
	19.7	  	No variation	  	 	21	  
	19.8	  	Governing law and jurisdiction	  	 	21	  
	19.9	  	Counterparts	  	 	21	  
	19.10	  	Conflicting provisions	  	 	21	  
	19.11	  	Non merger	  	 	21	  
		
	Schedule 1 – Employee particulars	  	 	23	  
		
	Schedule 2 – Employee duties	  	 	24	  

 Employment agreement 

Date 22 December 2014 
 Parties 

Nexvet Australia Pty Ltd ACN 141 909 131 of Level 8, 31 Queen Street, Melbourne, 3000 (Company).  

and 
 David Gearing (Employee). 

Operative provisions 
  

	1.	Definitions and interpretation 

  

	1.1	Definitions 

 In this agreement: 

Act means the Fair Work Act 2009 (Cth) as amended or replaced from time to time. 

Annual Equity Award has the meaning set out in clause 7.3. 

Annual Equity Award Benefit has the meaning set out in clause 9.1(c). 

Award Value has the meaning set out in clause 7.3. 

Base Salary means the amount specified in Item 4 of Schedule 1. 

Business means the business conducted by the Company from time to time, including the discovery, development and commercialisation of
biopharmaceutical products, such as companion animal (dog, cat and horse) monoclonal antibodies and therapeutic proteins, any products in any species derived from the patented PETisationTM platform technology, and any diagnostic products for use
in animals. 
 Business Premises means the Company’s premises at which the Employee predominantly works during the Employment, as
described in Item 3 of Schedule 1. 
 Change in Control means (a) a merger or consolidation or the sale, or exchange by the
stockholders of the Parent Company of all or substantially all of the capital stock of the Parent Company, where the stockholders of the Parent Company immediately before such transaction do not obtain or retain, directly or indirectly, at least a
majority of the beneficial interest in the voting stock or other voting equity of the surviving or acquiring corporation or other surviving or acquiring entity, in substantially the same proportion as before such transaction; (b) any
transaction or series of related transactions to which the Parent Company is a party in which in excess of fifty percent (50%) of its voting power is transferred, other than any such transfer in which the stockholders of the Parent Company
immediately before such transfer obtain or retain, directly or indirectly, more than fifty percent (50%) of the beneficial interest in the voting power of the voting stock or other voting equity of the corporation or other entity to which the
voting power of the Parent Company was transferred, or (c) the sale or exchange of all or substantially all of the Parent Company’s assets, other than a sale or transfer to a subsidiary of the Parent Company in which the stockholders of
the Parent Company immediately before such sale or exchange do not obtain or retain, directly or indirectly, at least a majority of the beneficial interest in the voting stock or other voting equity of the corporation or other entity acquiring the
Parent Company’s assets, in substantially the same proportion as before such transaction. 

  

			
	Employment agreement for David Gearing	 	4

 Commencement Date means the date specified in Item 1 of Schedule 1. 

Compensation Committee means the compensation committee established by the Parent Board. 

Confidential Information means: 
  

	 	(a)	all Information regarding the current Business or future business interests, methodology or affairs of the Company or any Related Entity of the Company; 

 

	 	(b)	all other Information belonging or relating to the Company or any Related Entity of the Company; 

  

	 	(c)	all Information which the Employee knows, or ought reasonably to be expected to know, is confidential to the Company or any Related Entity of the Company; 

but excludes: 
  

	 	(d)	any Information which is lawfully already in the public domain, or becomes part of the public domain other than due to the fault of the Employee or any person for whom the Employee is responsible; and 

 

	 	(e)	any Information which is required to be disclosed by Law. 

 Corporations Act means the
Corporations Act 2001 (Cth). 
 Duties means the duties as set out in Schedule 2. 

Earlier Agreements means the first employment agreement entered into between the Employee and the Company on or about the 1st September 2010, and the second employment agreement entered into between the Employee and the Company on or about 1 November 2013. 

EIP Plan means the 2014 Employee Incentive Plan of the Parent Company which will come into force upon the IPO, or any successor to that
plan. 
 Employment means the employment by the Company of the Employee pursuant to this agreement and the Earlier Agreements. 

Filing Date has the meaning set out in clause 3.1. 

Indemnity means the separate indemnity agreement that the Parent Company and the Employee will enter into pursuant to clause 3.3. 

Industrial Award means any modern award applicable at any time to the Employee’s employment with the Company. 

Information means any information, whether oral, graphic, electronic, written or in any other form, including: 

 

	 	(a)	forms, memoranda, letters, specifications, processes, procedures, statements, formulae, technology, inventions, trade secrets, research and development information, know how, designs, plans, photographs, microfiche,
business records, notes, accounting procedures or financial information, sales and marketing information, names and details of customers, suppliers and agents, employee details, reports, drawings and data; and 

 

	 	(b)	copies and extracts made of or from that information and data, whether translated from the original form, recompiled, partially copied, modified, updated or otherwise altered. 

Intellectual Property Rights means all present and future intellectual and industrial property rights conferred by statute, at common
law or in equity, including (without limitation): 

  

			
	Employment agreement for David Gearing	 	5

	 	(a)	patents, designs, copyright, rights in circuit layouts, plant breeder’s rights, trade marks, know how, brand names, domain names, inventions, product names, trade secrets, the right to have confidential information
kept confidential and other results of intellectual effort in the scientific, technological, bio-technological, industrial, literary or artistic and commercial fields, whether or not registered or capable of
registration; 

  

	 	(b)	any application or right to apply for registration of any of those rights; 

  

	 	(c)	any registration of any of those rights or any registration of any application referred to in paragraph (b); and 

  

	 	(d)	all renewals and extensions of these rights. 

 IPO has the meaning set out in clause
7.2(a). 
 IPO Option has the meaning set out in clause 7.2(a). 

Law means any: 
  

	 	(a)	principles of law or equity established by decisions of courts; 

  

	 	(b)	statutes, regulations or by-laws of the Commonwealth, a State, a Territory or a Government Agency; and 

  

	 	(c)	requirements and approvals (including conditions) of the Commonwealth, a State, a Territory or a Government Agency that have the force of law; 

Parent Board means the Board of Directors of Nexvet Biopharma plc. 

Parent Company means Nexvet Biopharma plc, a corporation incorporated in the Republic of Ireland. 

Probation Period means the period specified in Item 7 of Schedule 1 

Related Body Corporate has the meaning given to that term in the Corporations Act. 

Related Entity has the meaning given to that term in the Corporations Act. 

Restraint Area is each of the following areas separately: 
  

	 	(a)	within the State of Victoria; 

  

	 	(b)	within Australia; 

  

	 	(c)	within Australia and the United States of America; 

  

	 	(d)	within Australia, the United States of America, Europe, Japan and China; and 

  

	 	(e)	the world. 

 Restrained Duties means duties the same or similar to those performed by the
Employee in the course of the Employment. 
 Restraint Period is the period referred to in clause 13.1 and is each of the
following periods separately: 
  

	 	(a)	the Term; 

  

	 	(b)	the Term plus 6 months; and 

  

	 	(c)	the Term plus 12 months 

 Start Date means the date of the closing of the IPO (as defined
by clause 7.2) of the Parent Company. 
 Term means the term of this agreement, starting on the Start Date and ending on the
Termination Date. 
 Termination Date or Termination means the date of termination or expiry of this agreement for any reason.

  

			
	Employment agreement for David Gearing	 	6

 Total Remuneration Package means the remuneration package specified in clause 7.1. 

 

	1.2	Interpretation 

 In this agreement, unless the context requires otherwise: 

 

	 	(a)	the singular includes the plural and vice versa; 

  

	 	(b)	a gender includes the other genders; 

  

	 	(c)	the headings are used for convenience only and do not affect the interpretation of this agreement; 

  

	 	(d)	other grammatical forms of defined words or expressions have corresponding meanings; 

  

	 	(e)	a reference to a document includes the document as modified from time to time and any document replacing it; 

  

	 	(f)	the word “person” includes a natural person and any body or entity whether incorporated or not; 

  

	 	(g)	the word “month” means calendar month and the word “year” means 12 months; 

  

	 	(h)	the words “in writing” include any communication sent by letter, facsimile transmission or email or any other form of communication capable of being read by the recipient; 

 

	 	(i)	a reference to a thing includes a part of that thing; 

  

	 	(j)	a reference to all or any part of a statute, rule, regulation or ordinance (statute) includes that statute as amended, consolidated, re-enacted or replaced from time to time; 

 

	 	(k)	wherever “include” or any form of that word is used, it must be construed as if it were followed by “(without being limited to)”; 

 

	 	(l)	money amounts are stated in Australian currency unless otherwise specified; and 

  

	 	(m)	a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions removed (defunct body), means the agency or body which performs
most closely the functions of the defunct body. 

  

	2.	Position 

  

	 	(a)	The Employee is employed by the Company in the position as described in Item 2 of Schedule 1 in accordance with the terms of this agreement. 

 

	 	(b)	The Employee reports to the person named in Item 2 of Schedule 1 or any other position as directed by the Company or the Parent Company from time to time. 

 

	3.	Status of agreement 

  

	3.1	Replacement of Earlier Agreements 

 The Employee has been employed by the Company since
the Commencement Date pursuant to the Earlier Agreements. The parties have agreed that the Earlier Agreements will be replaced by this agreement, with effect on and from the Start Date. The terms of the Employment are accordingly governed by the
terms of this agreement as from the Start Date. Prior to the Start Date, the Employee will continue to be employed by the Company upon the existing terms and conditions of his employment, provided however, that clause 7.2 of this agreement will
be effective from the date on which the Parent Company files with the U.S. Securities and Exchange Commission a registration statement on Form S-1 with respect to the IPO (Filing Date). 

  

			
	Employment agreement for David Gearing	 	7

	3.2	Commencement date and term 

 The parties agree that the Employment commenced on the
Commencement Date and will continue unless and until terminated in accordance with clause 9. 
  

	3.3	Indemnity 

 The Parent Company and the Employee will enter into a separate agreement
pursuant to which the Parent Company will indemnify the Employee to the same extent that the Parent Company indemnifies its board members and other most senior executive officers of the Parent Company, the Company or Nexvet US Inc (as applicable).

  

	4.	Duties and Obligations 

  

	4.1	Duties 

 During the Employment, the Employee is to perform the Duties as well as any
additional duties required by the Company or the Parent Company from time to time. The duties may be altered by the Company from time to time to reflect changed business conditions. 

 

	4.2	Obligations 

 At all times during the Employment, the Employee must: 

 

	 	(a)	show the utmost good faith and devote the whole of the Employee’s working time and attention to the business of the Company and, if the Company so directs, to the business of any Related Body Corporate of the
Company; 

  

	 	(b)	use the Employee’s best endeavours at all times to promote the interests and welfare of the Company and any Related Entity of the Company; 

 

	 	(c)	honestly, faithfully and diligently obey and perform all lawful orders and instructions of the Company or the person to whom the Employee reports; 

 

	 	(d)	honestly, faithfully and diligently perform the duties and exercise the powers which from time to time may be assigned to the Employee by the Company or by the person to whom the Employee reports; 

 

	 	(e)	act in the best interests of the Company and any Related Entity of the Company at all times; 

  

	 	(f)	use the Employee’s best endeavours to promote the development, profitability, interests and welfare of the Company and any Related Entity of the Company; 

 

	 	(g)	not misuse the Company’s property or services, or allow such misuse by other persons; 

  

	 	(h)	as soon as practicable upon becoming aware thereof inform the Company of any act of dishonesty pertaining to the business, property or transactions of the Company on the part of any person which may have come to the
Employee’s knowledge; and 

  

	 	(i)	keep the terms of the Employee’s remuneration confidential. 

  

	4.3	Other appointments 

  

	 	(a)	During the Employment, the Employee may not take up any other employment or engagement (paid or unpaid) without the prior written consent of the Chief Executive Officer of the Company, such consent not to be
unreasonably withheld or delayed. 

  

	 	(b)	Without limiting clause 4.3(a), the Employee will not, during the Employment, without the prior written consent of the Company, undertake any appointment, position or work that: 

 

	 	(i)	results in the Employee competing with the Company; 

  

	 	(ii)	otherwise adversely affects the Company; or 

  

	 	(iii)	hinders the Employee’s performance of duties owed to the Company. 

  

			
	Employment agreement for David Gearing	 	8

	4.4	Conflict of interest 

  

	 	(a)	The Employee will ensure that there is no conflict between the Company’s interests and the Employee’s personal interests. 

  

	 	(b)	The Employee will make full and complete disclosure to the Company of the existence, nature and extent of any conflict or potential conflict of interest that the Employee may have in any manner or capacity whatever with
the Employee’s duties or obligations under this agreement. 

  

	 	(c)	The Employee must not solicit or accept from any person any remuneration or benefit in excess of the Employee’s official remuneration with the Company for the discharge of the Employee’s duties.

  

	 	(d)	The Employee must immediately report to the Company any remuneration or benefit the Employee receives from another person in connection with the Employment and the Employee must not deal with or otherwise dispose of any
such remuneration or benefit without the prior written consent of the Company. 

  

	 	(e)	The Employee must avoid any circumstance where a person or persons can improperly influence or receive unduly favourable treatment from the Company. 

 

	4.5	Company policies 

  

	 	(a)	The Employee must comply with all policies and procedures of the Company and the Parent Company. 

  

	 	(b)	Notwithstanding clause 4.5(a), the policies and procedures of the Company or the Parent Company: 

  

	 	(i)	are for the benefit of the Company and the Parent Company and do not impose any contractual obligations on the Company or the Parent Company; and 

 

	 	(ii)	are not incorporated into and do not form part of this agreement. 

  

	4.6	Common law duties 

 Nothing in this agreement is intended to limit the Employee’s
duties of good faith and fidelity to the Company and Parent Company or any other duties implied at common law. 
  

	5.	Employment locations 

 The Employee’s primary place of work will be as specified in
Item 3 of Schedule 1. However, the Employee may be required to work at other locations as reasonably directed by the Company. 
  

	6.	Hours of work 

 The Employee is required to work 38 hours per week plus all such reasonable
additional hours as required to properly perform their Duties in accordance with this agreement or as directed by the Company. 
  

	7.	Remuneration 

  

	7.1	Total Remuneration Package 

  

	 	(a)	In consideration of the duties provided and to be provided by the Employee, subject to clause 9.7, the Employee will be entitled to the Total Remuneration Package accruing and payable with respect to the period
beginning on the Start Date comprising of the Base Salary together with superannuation as provided in clause 7.6. The Employee is also entitled to the Additional Benefits, as described in Item 5 of Schedule 1. 

  

			
	Employment agreement for David Gearing	 	9

	 	(b)	The Employee will not be entitled to any additional remuneration for any additional hours worked as the Employee’s Total Remuneration Package has been set to compensate the Employee for these additional hours.

  

	7.2	IPO Option 

  

	 	(a)	Grant of Option 

 As soon as practicable after the pricing of an initial public offering
of the Parent Company’s capital stock (IPO) pursuant to a definitive written agreement between the Parent Company and the underwriter(s) engaged by the Parent Company for such IPO, and subject to the Employee’s continued employment
with the Company through such date, the Parent Board will grant to the Employee a nonstatutory stock option (IPO Option) pursuant to the EIP Plan to purchase 100,000 ordinary shares of the Parent Company’s capital stock. Unless otherwise
required by applicable law, the exercise price per share subject to the IPO Option (IPO Option Exercise Price) will be the greater of US$15.00 (as adjusted pro rata to reflect any change in the Parent Company’s capital structure) and the
public offering price in the IPO. The IPO Option will vest and become exercisable (i) with respect to 20% thereof upon the closing of the IPO and (ii) with respect to the remaining 80% thereof in 16 substantially equal instalments on the
last day of each of each of the 16 consecutive calendar quarters commencing after the closing of the IPO; provided, however that the IPO Option will become 100% vested and exercisable in full as of a date specified by the Parent Board prior to the
consummation of a Change in Control, provided that the Employee’s service with the Company has not terminated prior to such date. The IPO option will be subject to the terms and conditions of the appropriate form of option agreement approved by
the Parent Board for use under the EIP Plan, which the Employee will be required to execute. 
  

	 	(b)	Change in Control Prior to IPO 

 If a Change in Control is consummated on or after the
Filing Date but prior to the Start Date, and if the Parent Company has not granted the IPO Option to the Employee prior to the consummation of such Change in Control, then, provided that the Employee’s employment with the Company has not
terminated prior to the consummation of the Change in Control, the Parent Company shall pay to the Employee an amount in cash equal to one-third of 1% of the amount that otherwise would be payable to the holders of the capital stock of the Parent
Company pursuant to the Change in Control transaction, net of the repayment of the liabilities of the Parent Company not assumed by the acquirer in such transaction and the expenses incurred by the Parent Company in connection with such transaction,
but without reduction for the amounts payable to the Employee pursuant to this clause 7.2(b) and to Nexvet US Inc.’s Chief Financial Officer and Chief Executive Officer under similar arrangements. The amount payable to the Employee pursuant to
this clause 7.2(b), if any, will be paid to the Employee at the same time(s) and subject to the same terms and conditions that apply to the payment of transaction consideration to the holders of the capital stock of the Parent Company. 

 

	 	(c)	Change in Control After IPO. 

 If a Change in Control is consummated on or after the
Start Date, and if the Parent Company has not granted the IPO Option to the Employee prior to the consummation of such Change in Control, then, provided that the Employee’s employment with the Company has not terminated prior to the
consummation of the Change in Control, the Company shall pay to the Employee an amount in cash in a single lump sum within 60 days following the consummation of the Change in Control calculated as (i) minus (ii), where (i) and
(ii) are defined as: 

  

			
	Employment agreement for David Gearing	 	10

	 	(i)	100,000 multiplied by the closing market price of one (1) ordinary share of Parent Company capital stock determined on the date immediately prior to the Change in Control; and 

 

	 	(ii)	100,000 multiplied by the IPO Option Exercise Price (as adjusted pro rata to reflect any change in the Parent Company’s capital structure). 

 

	7.3	Annual Equity Award 

 Subject to the approval of the Parent Board, and provided that the
Employee’s employment with the Company has not previously terminated, the Employee will be eligible to be granted an award under the EIP Plan as soon as practicable but no later than 31 August in each fiscal year of the Parent Company
commencing after the IPO (Annual Equity Award). Each Annual Equity Award may be any type of award authorised under the EIP Plan and will have an Award Value (as defined below) of up to $US300,000 with the Award Value of any Annual Equity
Award determined by the Parent Board in its discretion. For the purposes of this Section, “Award Value” means a value ascribed to an Annual Equity Award by the Parent Board, in its discretion, as of the date of grant of the Annual
Equity Award. Each Annual Equity Award may vest on the basis of such service and/or performance or other conditions as may be established by the Parent Board; provided, however that each Annual Equity Award will become 100% vested and exercisable in
full (if applicable) as of a date specified by the Parent Board prior to the consummation of a Change in Control, provided that the Employee’s service with the Company has not terminated prior to such date. Each Annual Equity Award will be
subject to the terms and conditions of the appropriate form of award agreement approved by the Parent Board for use under the EIP Plan, which the Employee will be required to execute. 

 

	7.4	Offset 

  

	 	(a)	To the extent that the Employee’s Total Remuneration Package exceeds the Employee’s entitlements under the Industrial Award or pursuant to the Act at any time, the Employee’s Total Remuneration Package is
inclusive of and paid in full satisfaction of all payments and benefits that the Company is legally obliged to provide to the Employee, including any overtime payments or other payments for hours worked in excess of ordinary hours, and including all
entitlements the Employee has to payments (including wages, overtime and allowances) under the Industrial Award or pursuant to the Act. 

  

	 	(b)	To the extent that the Employee’s Total Remuneration Package exceeds the Employee’s entitlements under the Industrial Award or pursuant to the Act, the Company may (to the fullest extent permitted by law)
offset against this amount any future increases in the rates and allowances contained in the Industrial Award or pursuant to the Act. 

  

	 	(c)	Notwithstanding this clause or anything else in this agreement, the Industrial Award is not incorporated into and does not form part of this agreement. 

 

	 	(d)	Subject to any applicable laws, the Employee hereby authorises the Company to make deductions from any payments owing to the Employee to recover any debt owed by the Employee to the Company (to the fullest extent
permitted by law), including as a result of previous over-payment to the Employee. 

  

	7.5	Expenses 

 Except as expressly provided for in this agreement, the Employee will be
reimbursed for all expenses which are in the Company’s opinion reasonably incurred by the Employee in the course of the Employment, subject to provision of receipts or other documentary evidence to the Company’s satisfaction. 

  

			
	Employment agreement for David Gearing	 	11

	7.6	Superannuation 

 The Company will in addition to the Base Salary make contributions on
the Employee’s behalf to a complying superannuation fund which meets the Company’s statutory obligations under applicable superannuation legislation, currently 9.5%. The contributions will be capped at 9.5% of the maximum superannuation
contribution base. 
  

	7.7	Annual review 

 The Employee will be eligible for his first salary review and a
comprehensive review of the key elements of the Total Remuneration Package after the Parent Company achieves a market capitalisation, as determined by reference to publicly available Parent Company stock trading data, that exceeds US$500,000,000.00
or as the Parent Board determines in good faith from time to time, but in any event no later than the second anniversary of the Start Date. Adjustments to the Base Salary or other compensation, if any, will be made by the Parent Board in its sole
and absolute discretion. 
  

	7.8	Bonus 

 The Employee’s incentive (bonus) compensation, if awarded by the Parent
Board, will be determined based on achievement by the Employee, and the Company, as relevant, of objectives established by the Parent Board. Initial objectives will be established by the Parent Board and provided in writing to the Employee within
thirty (30) days after the Start Date. Such incentive (bonus) compensation will range on a sliding scale from 0% to 40% of the Base Salary for the given fiscal year for which such bonus is granted, based upon the achievement by the Employee,
and/or the Company, as relevant to the bonus achievement criteria set by the Parent Board, for achieving as relevant, 0% to 100% of the Employee’s personal objectives, and as relevant to the given fiscal year, the Company’s corporate
objectives for the given fiscal year, as determined in good faith by the Parent Board. Notwithstanding the above, the Employee’s bonus for fiscal year 2015 shall be based upon the Employee’s Base Salary for fiscal year 2015. The annual
incentive bonus compensation will be earned by the Employee if the Employee remains employed on the last day of a given year. Any bonus awarded by the Parent Board will be paid to the Employee in cash no later than ninety (90) days after the
end of the fiscal year for which such bonus is earned and will be subject to relevant applicable taxation and statutory deductions. Should the Employment be terminated under clause 9.1 (and not by reason of clause 9.5), the Employee will be eligible
for a pro-rata bonus, calculated in line with other executives in the Parent Company and in line with reasonable business practice. 
  

	7.9	Legislative benefits 

 The Employee acknowledges that the Total Remuneration Package is
(to the extent not prohibited by law) deemed inclusive of an allowance in favour of the Employee for all additional employee benefits and allowances (not otherwise specified in this agreement) required by applicable legislation to be provided by an
employer if favour of, or for the benefit of, an employee employed to provide the Duties. 
  

	7.10	Probation Period 

 The parties agree that this agreement will be subject to the Probation
Period, during which time this agreement may be terminated by the Company with at least one month’s notice or payment in lieu of notice. During the Probation Period, the Employee’s performance will be reviewed and discussed with the
Employee. At the expiry of the Probation Period, unless notified otherwise in writing, the Employee will be deemed to be employed by the Company on a permanent basis, on the terms of this agreement. 

 

	8.	Leave 

  

	8.1	Annual leave 

  

	 	(a)	The Employee will be entitled to 4 weeks annual leave for every 12 months service on a pro-rata and cumulative basis in accordance with the Act. 

  

			
	Employment agreement for David Gearing	 	12

	 	(b)	The Employee will be entitled to one (1) additional week of annual leave in any 12 month service period (calculated on the anniversary date), provided that the employee has already taken or will be taking the 4
weeks of annual leave referred to in paragraph (a) in that 12 month period. If the Employee does not choose to take the additional week’s leave, the additional week will not accrue. 

 

	 	(c)	Annual leave is to be taken at a time agreed with the Company or failing agreement as directed by the Company in accordance with the Act. 

 

	8.2	Personal/Carer’s leave 

  

	 	(a)	The Employee will be entitled to 10 days personal/carer’s leave per annum, which includes sick leave, on a pro-rata and cumulative basis, in accordance with the Act. 

 

	 	(b)	To claim any period of personal/carer’s leave, the Company may require the Employee to provide a medical certificate from a registered health practitioner or, if that is not reasonably practicable, a statutory
declaration from the Employee, in an appropriate form. 

  

	 	(c)	Personal/carer’s leave will not be paid out on termination of the Employment. 

  

	8.3	Parental leave 

 The Employee will be entitled to unpaid parental leave in accordance
with the Act. 
  

	8.4	Long service leave 

 The Employee will be entitled to long service leave in accordance
with applicable State legislation. 
  

	8.5	Public holidays 

 The Employee will be entitled to paid leave on days declared public
holidays in accordance with the Act. 
  

	9.	Termination of Employment 

  

	9.1	Termination by the Company 

  

	 	(a)	Subject to clauses 9.3 and 9.5, the Company may terminate the Employment at any time by giving the Employee six (6) months written notice. 

 

	 	(b)	The notice in (a) above will be increased to 12 months if the Company terminates the Employment immediately prior to, upon, or within 12 months following a Change in Control. 

 

	 	(c)	If the Employment is terminated by the Company under this clause 9.1 (and not by reason of clause 9.5) and such termination occurs after the first day of a given fiscal year of the Parent Company, and if the Parent
Company has not yet granted the Employee’s Annual Equity Award in the fiscal year that the Employee’s termination occurs, the Company shall, acting in good faith, pay the Employee an amount of cash (Annual Equity Award Benefit)
equal to the product determined by multiplying (A) the greater of (x) the Award Value of the Annual Equity Award that the Employee otherwise would have received for the fiscal year of the Employee’s termination of employment and
(y) the Award Value of the Annual Equity Award granted to the Employee during the immediately preceding fiscal year, by (B) a ratio, the numerator of which equals the number of days elapsed from the beginning of the immediately preceding
fiscal year to the date of the Employee’s termination of employment, and the denominator of which equals the total number of days contained in the current fiscal year. 

 

	 	(d)	 If the Employment is terminated by the Company under this clause 9.1 (and not by reason of clause 9.5) then any portions of the IPO Option and Annual
Equity Awards granted to the Employee prior to the termination of Employment that remain 

  

			
	Employment agreement for David Gearing	 	13

	 	
unvested as of the Termination Date will become 100% vested and exercisable in full for the remainder of the option term as if the Employee’s Employment had not terminated (if applicable) as
of the Termination Date. 

  

	9.2	Notice period by the Employee 

  

	 	(a)	The Employment may be terminated by the Employee by giving the Company three (3) months written notice. 

  

	 	(b)	If the Employee does not give the Company the period of notice referred to in this clause in writing or the Employee leaves the Employment during the period of notice, the Employee agrees that the Company is entitled to
withhold (to the fullest extent permitted by law) from any monies owing to the Employee an amount representing that portion of the Total Remuneration Package the Employee would have earned for the number of weeks or days of the notice period that
the Employee did not work. 

  

	 	(c)	If the Employment is terminated by the Employee then any portions of the IPO Option and Annual Equity Awards granted to the Employee prior to the termination of Employment that remain unvested as of the Termination Date
shall not vest and shall not be exercisable. 

  

	9.3	Payment in lieu of notice 

 If notice is given by the Company (under clause 9.1) or the
Employee (under clause 9.2) the Company may, in lieu of notice, make payment to the Employee in a sum equal to the Total Remuneration Package the Employee would have earned if the Employee had been given or had given the relevant period of notice.

  

	9.4	Garden leave 

  

	 	(a)	Following the giving of notice by the Company or the Employee, the Company may for part or all of the notice period at its sole discretion direct the Employee to: 

 

	 	(i)	perform alternative duties; or 

  

	 	(ii)	perform no duties and not attend for work. 

  

	 	(b)	Clause 9.4(a) does not affect the Company’s right to at any time make payment in lieu of part or all of the notice period in accordance with clause 9.3. 

 

	9.5	Summary dismissal 

  

	 	(a)	The Company may terminate the Employment summarily without notice or any payment in lieu of notice to the Employee if the Employee: 

  

	 	(i)	commits serious misconduct; 

  

	 	(ii)	commits a serious or persistent breach of any material term or condition of this agreement; 

  

	 	(iii)	refuses or fails to comply with a lawful and reasonable directive of the Company that is not rectified by the Employee within 30 days of receipt of written notice from the Company; 

 

	 	(iv)	engages in any fraudulent or dishonest conduct; 

  

	 	(v)	is intoxicated at work to the extent that the Employee cannot perform the Employee’s duties; 

  

	 	(vi)	is convicted of, or pleads guilty to, any serious or indictable criminal offence; 

  

	 	(vii)	engages in any conduct which brings or may bring the Company into disrepute; 

  

	 	(viii)	is prohibited by Law from taking part in the management of the Company; 

  

			
	Employment agreement for David Gearing	 	14

	 	(ix)	becomes of unsound mind (as determined by 2 independent medical practitioners selected by the Board) or a person whose person or estate is liable to be dealt with in any way under any Law relating to mental health and
in either instance is incapable of undertaking their Duties to the full extent required under this agreement (as determined by the Board, excluding the Employee should the Employee be a director of the Company), or 

 

	 	(x)	is made bankrupt or enters into any composition or arrangement with or for the benefit of their creditors generally. 

  

	 	(b)	If the Employment is terminated by the Company under this clause 9.5, then any portions of the IPO Option and Annual Equity Awards granted to the Employee prior to the termination of Employment that remain unvested as
of the Termination Date shall not vest and shall not be exercisable. 

  

	9.6	Return of Company property 

 On termination of the Employment, the Employee must as soon
as practicable return to the Company all property, materials and items belonging to the Company or any Related Entity of the Company in the Employee’s possession custody or control. 

 

	9.7	Accrued entitlements on Termination 

 Any payment by the Company in respect of accrued
but unpaid or untaken annual leave or long service leave on termination of the Employment, will be calculated on the basis of the Base Salary. 
  

	9.8	Appointment of Company as attorney on termination of Employment 

 The Employee
irrevocably appoints the Company as his attorney in his name and on his behalf to sign any documents and do all things necessary or desirable to give effect to the termination of Employment and to any other matter arising from the termination of the
Employment. 
  

	10.	Confidential Information 

  

	10.1	Acknowledgment of Employee 

 The Employee acknowledges that through the course of the
Employment or otherwise, the Employee may obtain access to, or become aware of, Confidential Information which is of commercial value to the Company and which is owned by and will at all times remain the property of the Company or a Related Entity
of the Company. 
  

	10.2	Obligations of the Employee 

  

	 	The	Employee must: 

  

	 	(a)	only use the Confidential Information for the purposes of performing, and to the extent necessary to perform, the Employee’s duties in the course of employment with the Company; 

 

	 	(b)	not memorise, modify, reverse engineer or make copies, notes or records of the Confidential Information for any purpose other than in connection with the performance of the Employee’s duties; 

 

	 	(c)	keep in the strictest confidence all Confidential Information and not disclose to any person any Confidential Information without the consent of the Company; 

 

	 	(d)	not use, or modify any Confidential Information for the Employee’s own use or benefit or the use or benefit of any third party; and 

 

	 	(e)	promptly, at the request of the Company at any time, disclose and deliver up to the Company, all Confidential Information including copies in the Employee’s possession, custody or control. 

  

			
	Employment agreement for David Gearing	 	15

	10.3	Unauthorised disclosure 

 The Employee must take all reasonable precautions to prevent
any unauthorised disclosure of Confidential Information, including the following precautions: 
  

	 	(a)	the Employee must at all times store all Confidential Information safely and securely; 

  

	 	(b)	except with the prior written authority of the Company, the Employee must not remove any Confidential Information from the premises at which it is stored except where it is necessary to do so for the sole purpose of
performing their Duties under this agreement; 

  

	 	(c)	the Employee must immediately notify the Company in writing of any actual, threatened or suspected unauthorised disclosure of any Confidential Information; and 

 

	 	(d)	the Employee must take all reasonable measures to minimise any unauthorised dissemination of any Confidential Information which is in any way related to or resulting from an act or failure to act by the Employee.

  

	10.4	Confidentiality deed 

 The Employee will be requested to enter into a formal deed in the
form attached at Annexure A in relation to the Company’s Confidential Information at or about the same time as entering into this agreement. 
  

	10.5	Survival 

 The Employee’s obligations under this clause 10 survive the termination
of the Employment for any reason. 
  

	11.	Intellectual Property 

  

	 	(a)	The Employee hereby assigns to the Company absolutely and beneficially the whole of the Employee’s right, title and interest in the world, whether presently existing or which arises at a date after the date of this
agreement in and to all Intellectual Property Rights acquired, developed or created by the Employee: 

  

	 	(i)	in the course of their employment with the Company (including pursuant to the Earlier Agreements); 

  

	 	(ii)	prior to the date of this agreement or the Earlier Agreements, where the Employee was providing services for the Company or Business (which includes in anticipation of the incorporation of the Company), the shareholders
of the Company or for the benefit of any of the Company, its shareholders or the Business; 

  

	 	(iii)	which in any way affect, relate to or are connected with the Business; or 

  

	 	(iv)	with the use of any of the Company’s or Related Entity’s resources, including the Company’s Related Entity’s computer/s or other information technology equipment, the Company’s Related
Entity’s laboratory or other research and development facilities or at the Company’s Related Entity’s premises, 

  

	 	(collectively,	the Assigned Intellectual Property Rights). 

  

	 	(b)	The Employee hereby agrees and undertakes to promptly disclose to the Company any Assigned Intellectual Property Rights upon acquisition, creation or development. 

 

	 	(c)	The Employee acknowledges and agrees that the Company will own all right, title and interest in and to all of the Assigned Intellectual Property Rights immediately upon creation, acquisition or development of the
Assigned Intellectual Property Rights. 

  

	 	(d)	 The Employee irrevocably agrees to promptly execute all documents, forms and authorisations and do all acts and things that the Company considers to
be 

  

			
	Employment agreement for David Gearing	 	16

	 	
necessary or desirable to give effect to this agreement and to absolutely vest in the Company full right, title and interest in and to all of the Assigned Intellectual Property Rights.

  

	 	(e)	At the Company’s request and expense, the Employee undertakes to assist the Company, whether during the course of or subsequent to the termination of the Employment, in connection with any controversy or legal
proceeding relating to such Intellectual Property rights and in obtaining domestic or foreign patent or other protection covering the same. 

  

	 	(f)	The Employee hereby irrevocably appoints the Company and each of its directors severally as and to be the attorney of the Employee to do anything and execute any document which the Employee is required to do or execute
pursuant to or in connection with the assignment of Intellectual Property Rights under this agreement and which the Employee has failed to do or execute. This power of attorney is granted to secure the performance of the Employee’s obligations
to the Company in relation to the assignment of Intellectual Property Rights under this agreement. 

  

	12.	Moral Rights 

  

	 	(a)	To the extent that the Employee has any moral rights in any work (whether or not currently in existence) created, made, delivered, produced, contributed to or otherwise provided by the Employee to the Company in the
course of the Employment (collectively Works), the Employee hereby irrevocably and unconditionally consents, to the fullest extent permitted by law (whether present or future), pursuant to the Copyright Act 1968 (Cth), to the Company, its
successors, assignees and licensees, and their licensees, and other persons authorised by any of them: 

  

	 	(i)	reproducing, adapting, publishing, performing, exhibiting, communicating or transmitting the Works or any adaptation thereof (or any part of any of the Works or of any such adaptation) anywhere in the world, in whatever
form and in whatever circumstances the Company thinks fit including the making of any distortions, additions or alterations to the Works or any adaptation thereof (or any part of the Works or of such adaptation) as so reproduced, adapted, published,
performed, exhibited, communicated or transmitted; 

  

	 	(ii)	reproducing, adapting, publishing, performing, exhibiting, communicating or transmitting the Works or any adaptation thereof (or any part of any of the Works or of any such adaptation) anywhere in the world without
making identification of the Company or the Employee or any other person in relation thereto; 

  

	 	(iii)	doing any act or omission that would constitute derogatory treatment of the Works; and 

  

	 	(iv)	combining or juxtaposing the Works with anything else, 

 for any purpose whatsoever, whether
such acts or omissions occur before or after the date on which that consent is given. 
  

	 	(b)	The Employee warrants that the consent obtained pursuant to this clause will be a genuine consent and complies with the provisions of the Copyright Act 1968 (Cth) and that the Employee has not relied on any statement or
representation made by the Company or anyone acting on behalf of the Company. 

  

	13.	Non-Competition 

  

	13.1	Obligations of the Employee 

 The Employee must not, in any capacity including on their
own account or as a member, shareholder, unit holder, director, partner, joint venturer, employee, trustee, beneficiary, principal, agent, adviser, contractor, consultant, manager, associate, representative or financier or in any other way or by any
other means: 

  

			
	Employment agreement for David Gearing	 	17

	 	(a)	during the Restraint Period and in the Restraint Area, perform the Restrained Duties for a business, activity or operation which is the same as, substantially similar to, or competitive with the Business carried on by
the Company or any material part of that Business; 

  

	 	(b)	during the Restraint Period, solicit, canvas, approach or accept an approach from any person who was at any time during the period commencing 6 months prior to the Termination, a customer or supplier of the Business or
the Company, with any purpose of, or having the effect of, obtaining the custom or services of that person in a Restrained Business; 

  

	 	(c)	during the Restraint Period, represent itself as being in any way connected with, interested in or associated with the Business or the Company (except as its proprietor before Completion and after Completion as an
Employee (where applicable); 

  

	 	(d)	during the Restraint Period, solicit, canvas, encourage, or induce, or endeavour to do so, any person who is at Completion, or who was at any time during the period commencing 6 months prior to the Termination, a
director, employee, agent, associate, contractor or advisor of the Company, to leave the office, employment or agency of, or association with, the Company; 

  

	 	(e)	during the Restraint Period, interfere with the business of the Company or divulge to any person any information concerning the business of the Company or any of its dealings, transactions or affairs; or

  

	 	(f)	during the Restraint Period, interfere to the detriment of the Company with the relationship between the Company and its clients, customers, employees or suppliers. 

 

	13.2	General 

  

	 	(a)	Nothing in this clause 13 prevents the Employee from holding in aggregate less than 5% of the issued shares of a body corporate, or interests in a registered managed investment scheme, included on the official list of a
financial market (as defined in the Corporations Act). 

  

	 	(b)	Each covenant in this clause, each paragraph of the Restraint Area definition and each paragraph of the Restraint Period definition is a separate and independent covenant by the Employee. They can be combined and each
combination is a separate covenant and restriction, although they are cumulative in effect. 

  

	 	(c)	For the avoidance of any doubt, if any of the separate and independent covenants or restrictions set out in this clause is or becomes invalid or unenforceable for any reason: 

 

	 	(i)	where the offending provision can be read down so as to give it a valid and enforceable operation of a partial nature, it must be read down to the minimum extent necessary to achieve that result; 

 

	 	(ii)	in any other case the offending provision must be severed from these terms, in which event the remaining provisions of these terms operate as if the severed provision had not been included; and 

 

	 	(iii)	without limiting the above, if the covenant or restriction in question would be valid or enforceable if any activity was deleted or the area or time was reduced, then that provision must be read down by deleting that
activity, or reducing that period or area, to the minimum extent necessary to achieve that result. 

  

	 	(d)	The Employee acknowledges that each of the restrictions imposed by this clause: 

  

			
	Employment agreement for David Gearing	 	18

	 	(i)	is reasonable in its extent (as to duration, geographical area and restrained conduct) having regard to the interests of each party to this agreement; 

 

	 	(ii)	extends no further, in any respect, than is reasonably necessary for the maintenance and protection of the business of the Company and its goodwill; and 

 

	 	(iii)	does not unreasonably restrict the Employee’s right to carry on the Employee’s profession or trade. 

  

	13.3	Survival 

 The Employee’s obligations under this clause 13 survive the termination
of this agreement for any reason. 
  

	14.	Suspension 

 Where the Company considers it necessary, it may direct the Employee not to attend
work but on full pay, whilst it conducts an investigation into any concerns relating to the Employee’s conduct or performance as an employee or for any other reason. 
  

	15.	Changes to position, duties, remuneration, or location 

  

	 	(a)	The Employee’s employment with the Company will continue to be subject to the terms of this agreement, unless varied or replaced by an agreement agreed to by both parties in writing, despite any change to the
Employee’s position, duties, remuneration or location. 

  

	 	(b)	This agreement may only be varied by a document in writing signed by or on behalf of each party. 

  

	16.	Corporations Act 

 Notwithstanding any provision of this agreement, the Company is not required
to pay or provide, or procure the payment or provision of, any monies or benefits to the Employee which do not comply with the provisions of the Corporations Act without the need for the Company to obtain shareholder approval. Any such payments or
benefits to be provided to the Employee must be reduced to ensure compliance with this clause and the Corporations Act. In the event that the Company pays or provides any monies or benefits to the Employee in excess of the amount permitted to be
paid or provided to the Employee under the Corporations Act without shareholder approval, the Employee must, on receiving written notice from the Company, immediately repay those monies or benefits to the Company. 

 

	17.	Dispute resolution 

  

	17.1	Mediation 

 Except in the case of a dispute where one party seeks urgent interlocutory or
injunctive relief, any dispute, controversy or claim arising out of or in relation to this agreement or its breach, termination or invalidity (Dispute) will first be the subject of a mediation administered by the Institute of Arbitrators and
Mediators Australia (IAMA). 
  

	17.2	Arbitration 

 If the Dispute is not resolved within 28 days (or any other period agreed
to in writing between the parties) after the appointment of the mediator, the Dispute will be submitted to arbitration, administered by the IAMA. The arbitrator must be agreed between the parties from a panel suggested by the IAMA or, failing
agreement, an arbitrator must be appointed by the President of the IAMA or his / her nominee. The arbitrator must not be the same person as the mediator. Subject to the above, the arbitration will be conducted and held in accordance with the laws of
Victoria. 

  

			
	Employment agreement for David Gearing	 	19

	17.3	Location 

 Any mediation or arbitration meetings and proceedings must be held in
Melbourne, Australia. 
  

	18.	Assignment 

  

	18.1	Successors of Company 

 The rights and obligations of the Company under this agreement
enure to the benefit of and are binding upon the successors of the Company. 
  

	18.2	Assignment for reconstruction or amalgamation 

 With the prior written agreement of the
Employee (such agreement not to be unreasonably withheld or delayed), the Company may assign its rights and obligations under this agreement for all or any part of the term of the Employment, to any other company (including a Related Body Corporate)
as part of a reconstruction or amalgamation of the Company, provided that the Employee agrees that the other company could reasonably be expected to undertake the financial obligations of the Company under this agreement that remain outstanding as
at the date of the assignment. 
  

	18.3	References to Company to be references to assignee 

 Following an assignment under clause
18.2, references to this agreement to the Company will be to the Company’s assignee. 
  

	19.	General 

  

	19.1	Entire understanding 

  

	 	(a)	Other than the terms of the awarding of options to you pursuant to the Company’s superseded long term incentive plan and the terms of the EIP Plan, this agreement supersedes all prior communications and agreements
between the parties as to the terms and conditions of the Employee’s employment, including the Earlier Agreements, any prior written or verbal undertakings or statements. 

 

	 	(b)	Each party acknowledges that, except as expressly stated in this agreement, that party has not relied on any representation, warranty or undertaking of any kind made by or on behalf of another party in relation to the
subject matter of this agreement. 

  

	19.2	No adverse construction 

 This agreement is not to be construed to the disadvantage of a
party because that party was responsible for its preparation. 
  

	19.3	Further assurances 

 A party, at its own expense and within a reasonable time of being
requested by another party to do so, must do all things and execute all documents that are reasonably necessary to give full effect to this agreement. 
  

	19.4	No waiver 

  

	 	(a)	A failure, delay, relaxation or indulgence by a party in exercising any power or right conferred on the party by this agreement does not operate as a waiver of the power or right. 

 

	 	(b)	A single or partial exercise of the power or right does not preclude a further exercise of it or the exercise of any other power or right under this agreement. 

 

	 	(c)	A waiver of a breach does not operate as a waiver of any other breach. 

  

			
	Employment agreement for David Gearing	 	20

	19.5	Severability 

 Any provision of this agreement which is invalid in any jurisdiction must
in relation to that jurisdiction: 
  

	 	(a)	be read down to the minimum extent necessary to achieve its validity, if applicable; and 

  

	 	(b)	be severed from this agreement in other case, 

 without invalidating or affecting the remaining
provisions of this agreement or the validity of that provision in any other jurisdiction. 
  

	19.6	Consents and approvals 

 Where anything in this agreement depends on the consent or
approval of a party then, unless this agreement provides otherwise, that consent or approval may be given conditionally or unconditionally or withheld, in the absolute discretion of that party. 

 

	19.7	No variation 

 This agreement cannot be amended or varied except in writing signed by the
parties. 
  

	19.8	Governing law and jurisdiction 

  

	 	(a)	This agreement is governed by and must be construed in accordance with the governing laws as described in Item 6 of Schedule 1. 

 

	 	(b)	The parties submit to the exclusive jurisdiction of the courts of that State (as referred to in clause 19.8(a)) in respect of all matters arising out of or relating to this agreement, its performance or subject matter.

  

	19.9	Counterparts 

 If this agreement consists of a number of signed counterparts, each is an
original and all of the counterparts together constitute the same document. 
  

	19.10	Conflicting provisions 

 If there is any conflict between the main body of this agreement
and any Schedules or annexures comprising it, then the provisions of the main body of this agreement prevail. 
  

	19.11	Non merger 

 A term or condition of, or act done in connection with, this agreement does
not operate as a merger of any of the rights or remedies of the parties under this agreement and those rights and remedies continue unchanged. 

  

			
	Employment agreement for David Gearing	 	21

 Signing page 

Executed as an agreement 
  

							
	Signed by David Gearing in the presence of:	 	 )
 )
	 		 	
		 		 		 	 /s/ David Gearing

		 		 		 	                    Signature

  

	
	 /s/ Mark Heffernan

	Signature of witness
	
	 Mark Heffernan

	 Name of witness

(please print)

  

							
	 Executed by Nexvet Australia Pty Ltd ACN

141 909 131 in accordance with section 127(1) of
 the
Corporations Act 2001 (Cth):
	 	 )
 )

)
 )
	 		 	

  

							
	 /s/ Christopher Nigel Brown
	 		 		 	 /s/ Geraldine T. Farrell

	Signature of director	 		 		 	Signature of company secretary*
		 		 		 	*delete whichever does not apply
				
	 Christopher Nigel Brown
	 		 		 	 Geraldine T. Farrell

	Name (please print)	 		 		 	Name (please print)

  

			
	Employment agreement for David Gearing	 	22

 Schedule 1 – Employee particulars 
  

	1.	Commencement Date 

 1 September 2010 

 

	2.	Position 

 Chief Scientific Officer reporting to the Chief Executive Officer of the
Parent Company. 
  

	3.	Primary place of work and Business Premises 

 MIMR – PHI, 27-31 Wright St. Clayton
VIC 3168 
  

	4.	Base Salary 

 Base Salary of US$325,000 gross per annum (inclusive of
superannuation) paid monthly in equal instalments on a pro-rata basis; half of which will be paid in arrears and half paid in advance. Each instalment is to be paid in Australian dollars converted in each case at the rate selected by the Parent
Company for conversion of US$ to A$ on the relevant date for accounting purposes. The Company will deduct appropriate tax and other statutory deductions from the gross A$ figure and will pay the net salary into the Employee’s nominated bank
account. 
 The Employee may salary package the Base Salary with the consent of the Company and in accordance with law, provided that the
total cost to the Company (including fringe benefits tax) must not increase due to the salary packaging arrangement. 
  

	5.	Additional Benefits 

 The Employee will also be entitled to the following additional
benefits: 
  

	 	•	 	Mobile phone, lap top computer; 

  

	6.	Governing Law 

 The laws of Victoria, Australia. 

 

	7.	Probation Period 

 N/A 

  

			
	Employment agreement for David Gearing	 	23

 Schedule 2 – Employee duties 
  

	 	•	 	Provide strong scientific leadership and mentoring to a group of highly motivated and ambitious scientists. 

  

	 	•	 	Oversee a scientific laboratory its compliance. 

  

	 	•	 	Project leader on pre-clinical and clinical development programmes, overseeing all aspects from manufacture/CMC, regulatory, pre-clinical and clinical development. 

 

	 	•	 	Oversee an internal team of scientists and development professionals and external consultants on development activities to meet the scientific and clinical corporate objectives. 

 

	 	•	 	Manage multiple research projects, and scientific management of Nexvet’s external scientific collaborations. 

  

	 	•	 	Personnel and budget accountability for all programmes. 

  

	 	•	 	Working with IP consultants and advisors on the Nexvet portfolio and in new IP identification & protection. 

  

	 	•	 	Work closely with the CEO and other senior management on key strategic goals 

  

	 	•	 	Support business development activities in planning and implementing commercial objectives. 

  

	 	•	 	Work closely with key opinion leaders in the review of new opportunities for in and out-licensing. 

  

	 	•	 	Develop a scientific and clinical advisory board of experts from new and existing networks. 

  

	 	•	 	Working closely with the CEO and other advisors in fundraising activities and due-diligence 

  

	 	•	 	Represent Nexvet at key international and national conferences 

  

	 	•	 	Draft and oversee publications in peer-reviewed scientific journals. 

  

			
	Employment agreement for David Gearing	 	24EX-10.16

 Exhibit 10.16 
  

 
 December 22, 2014 

Damian Lismore 
 Re: Your employment as Chief
Financial Officer of Nexvet US, Inc. 
 Dear Damian: 

On behalf of Nexvet US, Inc. (the “Company”), a wholly-owned subsidiary of Nexvet Biopharma plc, a company organized
in the Republic of Ireland (the “Parent Company”), I am pleased to confirm your employment with the Company upon the following terms and conditions commencing upon the date (the “Start Date”) of the closing of the
IPO (as defined by Section 8) of the Parent Company. Prior to the Start Date, you will continue to be employed by Nexvet Australia Pty Ltd, being a wholly-owned subsidiary of the Parent Company, upon the existing terms and conditions of your
employment; provided, however, that Section 8 of this agreement (the “Agreement”) will be effective from the date on which the Parent Company files with the U.S. Securities and Exchange Commission a registration statement on
Form S-1 with respect to the IPO (the “Filing Date”). All references to “$” are to United States dollars. 

1. Position, Duties and Indemnification. Your position and title will be Chief Financial Officer of the Company and Parent Company, and
you will report to the Parent Company’s Board of Directors (the “Parent Board”). In this position, your duties will consist of duties commensurate with your position and title as may be assigned to you from time to time in good
faith by the Company or the Parent Board. Your employment with the Company is a full-time position, and in performing your duties you will devote your full business time and commercially reasonable efforts on behalf of the Company and Parent
Company. Notwithstanding the foregoing, at any time after the first anniversary of the Start Date (or earlier if agreed with the Parent Board), it is acknowledged and agreed that, with the prior approval of the Parent Board (such approval not to be
unreasonably withheld or delayed), you may engage in civic and not-for-profit activities, and serve on the boards of directors or serve as an advisor to non-competitive private or public companies so long as such activities do not materially
interfere with the performance of your duties to the Company and Parent Company. As part of your employment, you may also advise the Parent Board and attend Parent Board meetings upon request for so long as you remain the Chief Financial Officer of
the Parent Company. In addition, you will abide by all Company and Parent Company policies and directives as in effect from time to time, as well as all applicable laws. The Parent Company shall indemnify you pursuant to a separate agreement to the
same extent that it indemnifies the Parent Board members and other most senior executive officers of the Parent Company. 
 2.
Base Salary. The Company will pay you a base salary at the annual rate of $350,000.00 ($29,166.67 per month) in accordance with the Company’s standard payroll schedule. This position is an exempt position, which means you are paid for
the job and not by the hour. Accordingly, you will not receive overtime pay if you work more than 8 hours in a workday or 40 hours in a workweek. You will be eligible for your first salary review and a comprehensive review of the key elements of
your compensation package after the Parent Company achieves a market capitalization, as determined by reference to publicly available Parent Company stock trading data,  

 Damian Lismore 

December 22, 2014 
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that exceeds $500,000,000.00, or as the Parent Board or the Compensation Committee determines in good faith from time to time, but in any event no later than the second anniversary of your Start
Date. Adjustments to your salary or other compensation, if any, will be made by the Parent Board or Compensation Committee in its sole and absolute discretion. 

3. Bonus. Your incentive (bonus) compensation, if awarded by the Parent Board or Compensation Committee, will be determined based on
achievement by you, and the Company and Parent Company, as relevant, of objectives established by the Parent Board or Compensation Committee. Initial objectives will be established by the Parent Board or Compensation Committee and provided in
writing to you within thirty (30) days after your Start Date. Such incentive (bonus) compensation will range on a sliding scale from 0% to 40% of your base salary for the given fiscal year for which such bonus is granted, based upon the
achievement by you, and/or the Parent Company, as relevant to the bonus achievement criteria set by the Parent Board or Compensation Committee, for achieving as relevant, 0% to 100% of your personal objectives, and as relevant to the given fiscal
year, the Parent Company’s corporate objectives for the given fiscal year, as determined in good faith by the Parent Board. Notwithstanding the above, your bonus for fiscal year 2015 shall be based upon your base salary for fiscal year 2015,
with remuneration payments (including superannuation payments made in Australia on your behalf) made to you in currencies other than US dollars converted to US currency as at the date that those payments were made. The annual incentive bonus
compensation will be earned by you if you remain employed on the last day of a given year. Any bonus awarded by the Parent Board will be paid to you in cash no later than ninety (90) days after the end of the fiscal year for which such bonus is
earned and will be subject to relevant payroll tax withholdings and deductions. If your employment with the Company terminates as a result of an Involuntary Termination (as defined below), then you will be eligible for a pro-rata bonus, calculated
in line with other executives in the Parent Company and in line with reasonable business practice. 
 4. Place of Work. Your
primary place of work will be located in or within 50 miles of San Francisco, California or as the Parent Board may determine from time to time as being in the best interests of the Company and agreed with you, such agreement not to be unreasonably
withheld or delayed.  
 5. Relocation Benefits. In order to assist you in relocating to the San Francisco Bay Area to
serve in your position with the Company, the Company will provide you with a one-time relocation allowance of $50,700.00 (the “Relocation Allowance”). Subject to Section 12(b)(iii), the applicable portion(s) of the Relocation
Allowance will be paid either directly by the Company for relocation expenses incurred by you or to you as a reimbursement of relocation expenses as soon as practicable following the month in which you have incurred such expenses. The Relocation
Allowance is contingent upon your relocation to the San Francisco Bay Area prior to May 1, 2015 or such other date as agreed by the Board. The Relocation Allowance is intended to cover your costs in connection with such relocation, including,
but not limited to, airfare for you and your family, rental car, relocation consultant, temporary housing and the shipping of household and personal effects. You will provide documentary evidence to the Company of the relocation expenses you have
incurred in accordance with this Section 5. You agree that if you voluntarily resign from the Company within twelve (12) months after the Start Date, you will repay to the Company all payments made to you under this Section 5 within
thirty (30) days after the date of such resignation, except in the case of an Involuntary Termination, as hereinafter defined. 

 Damian Lismore 

December 22, 2014 
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 6. Business Expenses. The Company will reimburse you for your commercially
reasonable business expenses incurred in connection with your duties, upon presentation by you to the Company of appropriate supporting documentation, and otherwise in accordance with the Company’s applicable policies with respect to such
reimbursement and Section 12(b)(iii) below.  
 7. Paid Time Off and Employee Benefits. On the Start Date, you
will be credited with the number of hours of unused annual leave and personal / carer’s leave you have accrued with Nexvet Australia Pty Ltd. Beginning with the next calendar year following the Start Date, you will be provided no less than 200
hours of paid time off (“PTO”) per calendar year of employment with the Company. 1/12th of your annual PTO allowance will accrue each month and a pro rata entitlement will apply
for each part month. The Company’s PTO program applies to any absence from work not otherwise covered by a specific time off benefit such as holiday pay. PTO covers all scheduled vacation or personal time off as well as unscheduled time off due
to personal illness, emergencies and the like. Your annual PTO allowance will increase to 240 hours after 18 November 2018. Unused PTO carries over from year to year to a maximum of 240 hours. Your usage of PTO will be subject to the
Company’s other policies in relation to PTO and, with authorization from the CEO, you may take up to 40 hours more time off than you have accrued. In addition, if you have relocated to the San Francisco Bay Region (or such other area as may be
determined by the Board as being in the best interests of the Company) in accordance with Section 5, you will be entitled to reimbursement in accordance with Section 12(b)(iii) below of up to $10,000.00 from the Company per Company fiscal
year for your expenses for an annual vacation trip for you and your family during the fiscal years ending in 2016, 2017 and 2018. You also will be eligible to participate in the Company’s benefits plans according to the terms and conditions of
such benefit plans as in effect from time to time, such as, for example purposes only, group health insurance plans and pension and retirement plans. The Company may implement and change its benefit plans from time to time as determined by the
Board.  
 8. IPO Option. 

(a) Grant of Option. As soon as practicable after the pricing of an initial public offering of the Parent Company’s capital
stock (the “IPO”) pursuant to a definitive written agreement between the Parent Company and the underwriter(s) engaged by the Parent Company for such IPO, and subject to your continued employment with Nexvet Australia Pty Ltd
through such date, the Parent Board will grant to you a nonstatutory stock option (the “IPO Option”) pursuant to the Parent Company’s 2014 Equity Incentive Plan or its successor (the “Plan”) to purchase 100,000
ordinary shares of the Parent Company’s capital stock. Unless otherwise required by applicable law, the exercise price per share subject to the IPO Option (“IPO Option Exercise Price”) will be the greater of $15.00 (as adjusted
pro rata to reflect any change in the Parent Company’s capital structure) and the public offering price in the IPO. The IPO Option will vest and become exercisable (i) with respect to 20% thereof upon the closing of the IPO and
(ii) with respect to the remaining 80% thereof in 16 substantially equal installments on the last day of each of the 16 consecutive calendar quarters commencing after the closing of the IPO; provided, however that the IPO Option will become
100% vested and exercisable in full as of a date specified by the Parent Board prior to the consummation of a Change in Control (as defined below), provided that your service with the Company has not terminated prior to such date. The IPO option
will be subject to the terms and conditions of the appropriate form of option agreement approved by the Parent Board for use under the Plan, which you will be required to execute. 

 Damian Lismore 

December 22, 2014 
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 (b) Change in Control Prior to IPO. If a Change in Control (as defined in
Section 13) is consummated on or after the Filing Date but prior to the Start Date, and if the Parent Company has not granted the IPO Option to you prior to the consummation of such Change in Control, then, provided that your employment with
Nexvet Australia Pty Ltd has not terminated prior to the consummation of the Change in Control, the Parent Company shall pay to you an amount in cash equal to one-third of 1% of the amount that otherwise would be payable to the holders of the
capital stock of the Parent Company pursuant to the Change in Control transaction, net of the repayment of the liabilities of the Parent Company not assumed by the acquirer in such transaction and the expenses incurred by the Parent Company in
connection with such transaction, but without reduction for the amounts payable to you pursuant to this Section 8(b) and to the Company’s Chief Executive Officer and Chief Scientific Officer under similar arrangements. The amount payable
to you pursuant to this Section 8(b), if any, will be paid to you at the same time(s) and subject to the same terms and conditions that apply to the payment of transaction consideration to the holders of the capital stock of the Parent Company,
and in any event in a manner that complies with the requirements for payment of “transaction-based compensation” within the meaning of United States Treasury Regulation Section 1.409A-3(i)(5)(iv)(A). 

(c) Change in Control After IPO. If a Change in Control (as defined in Section 13) is consummated on or after the Start
Date, and if the Parent Company has not granted the IPO Option to you prior to the consummation of such Change in Control, then, provided that your employment with the Company has not terminated prior to the consummation of the Change in Control,
the Company shall pay to you an amount in cash in a single lump sum within 60 days following the consummation of the Change in Control calculated as (i) minus (ii), where (i) and (ii) are defined as: 

(i) 100,000 multiplied by the closing market price of one (1) ordinary share of Parent Company capital stock determined on
the date immediately prior to the Change in Control; and 
 (ii) 100,000 multiplied by the IPO Option Exercise Price (as
adjusted pro rata to reflect any change in the Parent Company’s capital structure). 
 9. Annual Equity Awards. Subject
to the approval of the Parent Board and provided that your employment with the Company has not previously terminated, you will be eligible to be granted an award under the Plan as soon as practicable but no later than 31 August in each fiscal
year of the Parent Company commencing after the IPO (the “Annual Equity Award”). Each Annual Equity Award may be any type of award authorized under the Plan and will have an Award Value (as defined below) of up to $400,000.00, with
the Award Value of any Annual Equity Award determined by the Parent Board in its discretion. For the purposes of this Section, “Award Value” means a value ascribed to an Annual Equity Award by the Parent Board, in its discretion, as of the
date of grant of the Annual Equity Award. Each Annual Equity Award may vest on the basis of such service and/or performance or other conditions as may be established by the Parent Board; provided, however that each Annual Equity Award will become
100% vested and exercisable in full (if applicable) as of a date specified by the Parent Board prior to the consummation of a Change in  

 Damian Lismore 

December 22, 2014 
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Control (as defined below), provided that your service with the Company has not terminated prior to such date. Each Annual Equity Award will be subject to the terms and conditions of the
appropriate form of award agreement approved by the Parent Board for use under the Plan, which you will be required to execute. 

10. Employment Relationship. Your employment with the Company is “at will,” and for no specific period of time, and
thus either you or the Company may terminate your employment at any time and for any reason, with or without cause upon written notice by the terminating party to the other party. Although your job duties, title, compensation and benefits, as well
as the Company’s personnel policies and procedures, may be changed by action of the Board in good faith from time to time during the term of your service of the Company, the “at-will” nature of your employment may only be changed in
an express written agreement to such effect signed by you and a duly authorized officer of the Company other than you who has been authorized by the Board to execute such written agreement on behalf of the Company.  

11. Termination of Employment. If you voluntarily terminate your employment with the Company at any time for any reason, other
than your Resignation for Good Reason (as defined below), you must provide at least three (3) months’ notice and you will be entitled to your base salary then in effect prorated through until your termination date, as well as any accrued
but unused vacation and all amounts and benefits earned or incurred pursuant to Section 3, Section 6, Section 7, Section 8 and Section 9 through the last day of your employment (the “Accrued Rights”), and
you will not be entitled to any other compensation or benefits from Company.  
 (a) Termination for Cause, Death, or
Disability. If the Company terminates your employment for Cause (as defined below, and as determined in the discretion of the Board) or if your employment with the Company terminates as a result of your death or Disability, as defined below, you
will be entitled to your Accrued Rights, and you will not be entitled to any other compensation or benefits from the Company. If the Company offers death or Disability benefits to an executive officer of the Company in the future, you will be
entitled to similar death or Disability benefits, so long as such benefits are compliant with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).  

(b) Involuntary Termination Other Than In Connection With a Change in Control. If your employment with the Company terminates as
a result of an Involuntary Termination (as defined below), then you will be entitled to your Accrued Rights. In addition, you will be entitled to the benefits described in this Section 11(b) (the “Severance Benefits”) provided
that you have (i) returned all of the Company’s and Parent Company’s property in your possession, and (ii) executed and not revoked a full and complete release of all claims against the Company and related persons in the form set
forth in Exhibit A hereto (the “Release”), and the Release has become effective in accordance with its terms on or before the 60th day following the date of your termination of employment with the Company. The Severance Benefits
consist of: 
 (i) Continued payment by the Company of your monthly base salary rate (determined by your annual salary
rate in effect at the time of your Separation without regard to a reduction that would constitute Good Reason) for a period of six (6) months after your Separation (as defined below) (the “Salary Continuation Benefit”). 

 Damian Lismore 

December 22, 2014 
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 (ii) Payment to you by the Company of an aggregate amount, net of required
withholding taxes, equal to the product of (A) six (6) and (B) the monthly amount the Company was paying for coverage of you and your eligible dependents, if any, under the Company’s health insurance plans in which you and your
eligible dependents, if any, were participants as of the day of your termination of employment (the “Health Benefit”). The aggregate amount of the Health Benefit will be apportioned on the basis of six (6) monthly installments
and paid, net of applicable withholding taxes, at the same time and in the same manner as the Company’s payment of the Salary Continuation Benefit. 

(iii) If your termination of employment occurs after the first day of a given fiscal year of the Parent Company, and if
the Parent Company has not yet granted your Annual Equity Award in the fiscal year that your termination occurs, the Company shall, acting in good faith, pay you an amount of cash (the “Annual Equity Award Benefit”) equal to the
product determined by multiplying (A) the greater of (x) the Award Value of the Annual Equity Award that you otherwise would have received for the fiscal year of your termination of employment and (y) the Award Value of the Annual
Equity Award granted to you during the immediately preceding fiscal year, by (B) a ratio, the numerator of which equals the number of days elapsed from the beginning of the immediately preceding fiscal year to the date of your termination of
employment, and the denominator of which equals the total number of days contained in the current fiscal year. 
 (iv)
Any portions of the IPO Option and Annual Equity Awards granted to you prior to your Separation that remain unvested as of the date of your Separation will become 100% vested and exercisable in full for the remainder of the option term as if your
employment had not terminated (if applicable) as of your termination date. 
 The Annual Equity Award Benefit will be paid, and the Salary Continuation
Benefit and Health Benefit payments will commence, on the next Company payroll date following the effective date of the Release, and the first payment will include any unpaid amounts accrued from the date of your Separation. Notwithstanding the
foregoing, to the extent the payment of the Annual Equity Award Benefit, the Salary Continuation Benefit and/or the Health Benefit constitute “deferred compensation” within the meaning of Section 409A of the Code, and if the period
beginning on the date of your Separation and ending on the first Company payroll date occurring on or after the date which is sixty (60) days thereafter spans two (2) calendar years, then the payment of the Annual Equity Award Benefit will
be made, and the Salary Continuation Benefit and Health Benefit will commence, on the first payroll date occurring on or after the date which is sixty (60) days following your Separation date (provided the other requirements for receipt of such
Severance Benefits have been met), subject in each case to the provisions of Section 12(b)(ii) below. 
 (c) Involuntary Termination
In Connection With a Change in Control. If 

 Damian Lismore 

December 22, 2014 
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your employment with the Company, the Parent Company or any successor in interest to the Company or Parent Company that has assumed the Company’s or Parent Company’s obligation under
this Agreement terminates as a result of an Involuntary Termination immediately prior to, upon, or within twelve (12) months following, a Change in Control, then, you will be entitled to your Accrued Rights. In addition, provided that you have
(i) returned all of the Company’s and Parent Company’s property in your possession, and (ii) executed and not revoked the Release and the Release has become effective in accordance with its terms on or before the 60th day
following the date of your termination of employment with the Company, you will be entitled to receive the Severance Benefits set forth in Section 11(b), payable at the time(s) and subject to the conditions set forth therein, provided that the
Salary Continuation Benefit and the Health Benefit will each be for a period of twelve (12) months (the “Change in Control Severance Benefits”) in lieu of the period for such benefits described in Sections 11(b)(i) and (ii).

 12. Tax Matters. 

(a) Withholding. All forms of compensation referred to in this Agreement are subject to reduction to reflect applicable
withholding and payroll taxes and other deductions required by law. 
 (b) Certain Provisions Respect to Section 409A of the
Code. 
 (i) For purposes of Section 409A of the Code, each installment payment of Salary Continuation Benefit and the Health
Benefit is hereby designated as a separate payment. 
 (ii) If the Company determines that you are a “specified employee” under
Section 409A(a)(2)(B)(i) of the Code at the time of your Separation, then (i) the Severance Benefits or Change in Control Severance Benefits, as applicable, to the extent that they are treated as deferred compensation subject to
Section 409A of the Code, will commence on the payroll date following the earlier of (A) expiration of the six (6) month period measured from your Separation or (B) the date of your death, and (ii) the installments that
otherwise would have been paid prior to such date will be paid in a lump sum when the payment of Severance Benefits or Change in Control Severance Benefits, as applicable, commence. 

(iii) Notwithstanding anything herein to the contrary, the reimbursement of expenses or in-kind benefits provided pursuant to this Agreement
will be subject to the following conditions: (i) the expenses eligible for reimbursement or in-kind benefits in one taxable year will not affect the expenses eligible for reimbursement or in-kind benefits in any other taxable year;
(ii) the reimbursement of eligible expenses or in-kind benefits will be made promptly, subject to the Company’s applicable policies, but in no event later than the end of the year after the year in which such expense was incurred; and
(iii) the right to reimbursement or in-kind benefits will not be subject to liquidation or exchange for another benefit. 
 (iv) The
Company intends that income provided to you pursuant to this Agreement will not be subject to taxation under Section 409A of the Code. The provisions of this Agreement will be interpreted and construed in favor of satisfying any applicable
requirements of Section 409A of the Code. However, the Company does not guarantee any 

 Damian Lismore 

December 22, 2014 
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particular tax effect for income provided to you pursuant to this Agreement. In any event, except for the Company’s responsibility to withhold applicable income and employment taxes from
compensation paid or provided to you, the Company will not be responsible for the payment of any applicable taxes on compensation paid or provided to you pursuant to this Agreement. 

(c) Section 280G Excise Tax Matters. 

(i) In the event that any payment in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to you or
for your benefit, paid or payable or distributed or distributable pursuant to the terms of this Agreement, or otherwise in connection with, or arising out of, your employment with the Company (collectively, the “Payments”), would,
but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code or any similar or successor provision (the “Excise Tax”), then the Payments shall be either: (1) delivered in full, or
(2) delivered as to such lesser extent which would result in no portion of such Payments being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the
Excise Tax, results in the receipt by you on an after-tax basis, of the greatest amount of Payments, notwithstanding that all or some portion of such Payments may be taxable under Section 4999 of the Code. Any reduction under this Subsection
shall be applied first to Payments that constitute “deferred compensation” (within the meaning of Section 409A of the Code and the regulations thereunder). If there is more than one such Payment, then such reduction shall be applied
on a pro rata basis to all such Payments. Notwithstanding the foregoing, if required by the individual, entity or group which will control the Company upon the occurrence of a Change in Control, the Company and you shall take all actions necessary
to comply with the stockholder vote requirements necessary to obtain the exemption under Section 280G(b)(5) of the Code and the applicable regulations promulgated thereunder, if available to the Company, for the portion of the Payments that
would otherwise be subject to the Excise Tax. 
 (ii) An initial determination as to whether a reduction in the Payments is
required pursuant to this Agreement and the amount of such reduction shall be made by the Company. The Company shall provide its determination (the “Determination”), together with detailed supporting calculations and documentation,
to you within fifteen (15) days of the Change in Control or the date of your termination of employment, as applicable, or such other time as requested by you (provided you reasonably believe that any of the Payments may be subject to the Excise
Tax). If requested by you, the Company shall furnish you, at the Company’s expense, with an opinion reasonably acceptable to you from the Company’s accounting firm (or an accounting firm of equivalent stature reasonably acceptable to you)
that there is a reasonable basis for the Determination. 
 (d) Tax Advice. You are encouraged to obtain your own tax
advice regarding your compensation from the Company. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or the
Board related to tax liabilities arising from your compensation.  

 Damian Lismore 

December 22, 2014 
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 13. Definitions. The following terms have the meaning set forth below wherever they
are used in this Agreement: 
 “Cause” means the occurrence of any of the following: 

(a) Your gross negligence, gross misconduct or your refusal to perform your duties and responsibilities to the Company after you have received
a written description of such failure and been provided with thirty (30) days to cure such failure, or your material breach of your fiduciary duties to the Company. Any willful act or acts or omission or omissions by you that have a material
adverse effect on the Company’s reputation or financial statements will be deemed to be such a breach of your duties and responsibilities to the Company; provided, however, in all such cases, you will have been given a written description of
such failure or breach and thirty (30) days to cure the breach. 
 (b) Your conviction of, or plea of nolo contendere to,
a felony, in which case, notwithstanding anything set forth in this Agreement, the Company may immediately terminate your employment for Cause. 

(c) Your engagement in acts of embezzlement or material dishonesty; in which case, notwithstanding anything set forth in this Agreement, the
Company may immediately terminate your employment for Cause. 
 “Change in Control” means: (a) a merger or
consolidation or the sale, or exchange by the stockholders of the Parent Company of all or substantially all of the capital stock of the Parent Company, where the stockholders of the Parent Company immediately before such transaction do not obtain
or retain, directly or indirectly, at least a majority of the beneficial interest in the voting stock or other voting equity of the surviving or acquiring corporation or other surviving or acquiring entity, in substantially the same proportion as
before such transaction; (b) any transaction or series of related transactions to which the Parent Company is a party in which in excess of fifty percent (50%) of its voting power is transferred, other than any such transfer in which the
stockholders of the Parent Company immediately before such transfer obtain or retain, directly or indirectly, more than fifty percent (50%) of the beneficial interest in the voting power of the voting stock or other voting equity of the
corporation or other entity to which the voting power of the Parent Company was transferred, or (c) the sale or exchange of all or substantially all of the Parent Company’s assets, other than a sale or transfer to a subsidiary of the
Parent Company as defined in Section 424(f) of the Code, in which the stockholders of the Parent Company immediately before such sale or exchange do not obtain or retain, directly or indirectly, at least a majority of the beneficial interest in
the voting stock or other voting equity of the corporation or other entity acquiring the Parent Company’s assets, in substantially the same proportion as before such transaction. 

“Disability” means “disability” as defined by the long-term disability plan or policy adopted by the Company
covering you, and in lieu of such plan or policy, it means a “permanent and total disability” as defined by Section 22(e)(3) of the Code. 

“Involuntary Termination” means either (a) your Termination Without Cause or (b) your Resignation for Good
Reason. 
 “Resignation for Good Reason” means a Separation as a result of your resignation within ninety
(90) days after one of the following conditions has come into existence without your consent: 

 Damian Lismore 

December 22, 2014 
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 (a) The material breach by the Company of any of its obligations under this Agreement; or

 (b) Without your express written consent, a material reduction of your duties, position or responsibilities or your removal from such
position and responsibilities, or a reduction in the level of supervisor within the organization to whom you report; or 
 (c) Without your
express written consent, a material reduction in your base salary, unless such reduction is made in connection with a company-wide cost reduction effort; or 

(d) The Company’s requirement that you report to a primary work location that is not within the region described in Section 4; or

 (e) A material reduction in the kind or level of employee benefits to which you are entitled immediately prior to such reduction with the
result that your overall benefits package is significantly reduced such that the reduction constitutes a “material negative change” to your employment relationship (within the meaning of Section 1.409A-1(n)(2) of the United States
Federal Treasury Regulations), unless such reduction is made in connection with a company-wide cost reduction effort of similar scope for all similarly situated employees. 

A Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within thirty
(30) days after the condition comes into existence and the Company fails to remedy the condition within thirty (30) days after receiving your written notice. 

“Separation” means a “separation from service,” as defined in Section 409A of the Code and/or the
regulations and other guidance issued by the Internal Revenue Service or the Department of Treasury under Section 409A of the Code. 

“Termination Without Cause” means a Separation as a result of a termination of your employment by the Company without
Cause other than for death or Disability. 
 14. Interpretation, Amendment and Enforcement. Other than the terms of the
awarding of options to you pursuant to the Company’s superseded long term incentive plan and the terms of the Employee Incentive Plan which comes into effect at the IPO, and other than the deed of indemnity to be entered into pursuant to
Section 1, this Agreement supersedes and replaces any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company with respect to the subject matter hereof, and constitutes the
complete agreement between you and the Company regarding the subject matter hereof. This Agreement may not be amended or modified except by a written Agreement signed by both you and a duly authorized officer of the Company that explicitly states
the intent of both parties hereto to supplement the terms herein. The terms of this Agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this Agreement or arising out of, related to, or in any way
connected with, this Agreement, your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by the laws of the State of California, excluding its laws relating to
conflicts of law or choice of law. You and the Company submit to the exclusive personal jurisdiction of, and venue in, the U.S. federal and State of California courts located in San Francisco, California in connection with any dispute or any claim
related to any dispute between the parties hereto related to or arising from this Agreement. 

 Damian Lismore 

December 22, 2014 
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 15. Successors and Assigns. This Agreement is personal to you and may not be
assigned by you in whole or in part. Any purported assignment by you will be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company. This Agreement will inure to the benefit of the Company and to such successors and assigns.  

16. Remedies. In the event of a breach or threatened breach by you of this Agreement, you hereby consent and agree that the
Company will be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of
showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief will be in addition to, not in lieu of, legal remedies,
monetary damages or other available forms of relief.  
 17. Severability. If any provision of this Agreement is held
by a court to be invalid, void or unenforceable, the remaining provisions will nevertheless continue in full force and effect without being impaired or invalidated in any way and will be construed in accordance with the purposes and tenor and effect
of this Agreement.  
 18. Counterparts. This Agreement may be executed in counterparts, each of which will be an
original, but both of which together will constitute one instrument.  
 19. Survival. Upon the expiration or other
termination of this Agreement, the respective rights and obligations of the parties hereto will survive such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement. 

This offer is contingent upon your: 1) signing and providing to the Company the Company’s standard Employee Proprietary Information and
Inventions Agreement; and 2) providing the Company with a true and correct copy of appropriate documents establishing your identity and right to work in the United States. 

[SIGNATURE PAGE FOLLOWS] 

 Damian Lismore 

December 22, 2014 
  Page
 12
 
  

 You may accept this offer by signing and dating the enclosed duplicate original of this
Agreement and returning it to me by email to chris.brown@gibbshill.com.au not later than 5:00 PM California time on 29 December, 2014. 
  

			
	Very truly yours,
	
	NEXVET US, INC.
		
	By:	 	 /s/ Christopher Nigel Brown

	Name:	 	Christopher Nigel Brown
	Title:	 	Director

 I HAVE READ AND ACCEPT THIS EMPLOYMENT OFFER AND THE TERMS OF THIS AGREEMENT: 

 

			
	 /s/ Damian Lismore

	Damian Lismore
		
	Date signed:	 	22 December 2014

	
	
	ACCEPTED AND AGREED TO:
	
	 NEXVET BIOPHARMA PLC

			
		
	By:	 	 /s/ Joseph McCracken

	Name:	 	Joseph McCracken
	Title:	 	Director
		
	By:	 	 /s/ Christopher Nigel Brown

	Name:	 	Christopher Nigel Brown
	Title:	 	Director

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