Document:

Exhibit
10.21

 

RESTRICTED
STOCK AWARD AGREEMENT

UNDER
THE POLARITYTE, INC.

2020
STOCK OPTION AND INCENTIVE PLAN

 

	 	 
	Name of Optionee:	 
	 	 
	No. of Restricted Stock Shares:	 
	 	 
	Grant Date:	 

 

Pursuant
to the PolarityTE, Inc. 2020 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”), PolarityTE,
Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Grantee named above. Upon
acceptance of this Award, the Grantee shall receive the number of shares of Common Stock, par value $0.001 per share (the “Stock”)
of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan. The Company acknowledges
the receipt from the Grantee of consideration with respect to the par value of the Stock in the form of cash, past or future services
rendered to the Company by the Grantee or such other form of consideration as is acceptable to the Administrator.

 

SECTION
1. Award. The shares of Restricted Stock awarded hereunder shall be issued and held by the Company’s transfer agent
in book entry form, and the Grantee’s name shall be entered as the stockholder of record on the books of the Company. Thereupon,
the Grantee shall have all the rights of a stockholder with respect to such shares, including voting and dividend rights, subject,
however, to the restrictions and conditions specified in Paragraph 2 below. The Grantee shall (i) sign and deliver to the Company
a copy of this Award Agreement and (ii) deliver to the Company a stock power endorsed in blank.

 

SECTION
2. Restrictions and Conditions.

 

(a)
Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined by the Administrator
in its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan.

 

(b)
Shares of Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed
of by the Grantee prior to vesting.

 

(c)
If the Grantee’s Service Relationship with the Company and its Subsidiaries is voluntarily or involuntarily terminated for
any reason (including death) prior to vesting of shares of Restricted Stock granted herein, all shares of Restricted Stock shall
immediately and automatically be forfeited and returned to the Company.

 

SECTION
3. Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting
Date or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company
or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 2
shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date.

 

	Incremental
        Number

        of
        Shares Vested
	 	Vesting
    Date 
	___________ (___%)	 	 
	___________ (___%)	 	 
	___________ (___%)	 	 
	___________ (___%)	 	 
	___________ (___%)	 	 

 

Subsequent
to such Vesting Date or Dates, the shares of Stock on which all restrictions and conditions have lapsed shall no longer be deemed
Restricted Stock. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3.

 

    	 	 	 

    	 

    

 

SECTION
4. Dividends. Dividends on shares of Restricted Stock shall be paid currently to the Grantee.

 

SECTION
5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Award shall be subject to and governed
by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan.
Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 

SECTION
6. Transferability. This Agreement is personal to the Grantee, is non-assignable and is not transferable in any manner,
by operation of law or otherwise, other than by will or the laws of descent and distribution.

 

SECTION
7. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable
event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of
any Federal, state, and local taxes required by law to be withheld on account of such taxable event. Except in the case where
an election is made pursuant to Paragraph 8 below, the Company shall have the authority to cause the required tax withholding
obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued or released by the transfer
agent a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; provided,
however, that the amount withheld does not exceed the maximum statutory tax rate or such lesser amount as is necessary to avoid
adverse accounting treatment or as determined by the Administrator.

 

SECTION
8. Election Under Section 83(b). The Grantee and the Company hereby agree that the Grantee may, within 30 days following
the Grant Date of this Award, file with the Internal Revenue Service and the Company an election under Section 83(b) of the Internal
Revenue Code. In the event the Grantee makes such an election, he or she agrees to provide a copy of the election to the Company.
The Grantee acknowledges that he or she is responsible for obtaining the advice of his or her tax advisors with regard to the
Section 83(b) election and that he or she is relying solely on such advisors and not on any statements or representations of the
Company or any of its agents with regard to such election.

 

SECTION
9. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result
of the Plan or this Agreement to continue the Grantee in the Service Relationship and neither the Plan nor this Agreement shall
interfere in any way with the right of the Company or any Subsidiary to terminate the Service Relationship of the Grantee at any
time.

 

SECTION
10. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes
all prior agreements and discussions between the parties concerning such subject matter.

 

SECTION
11. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity
grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”)
may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of
the Plan or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee (i) authorizes
the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy
rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit
such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which
the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information.
Relevant Information will only be used in accordance with applicable law.

 

SECTION
12. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall
be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one
party may subsequently furnish to the other party in writing.

 

    	 	2	 

    	 

    

 

	 	POLARITYTE,
    INC.
	 		
	 	By:
    	                
	 	Name:
    	
	 	Title:
    	

 

The
foregoing Agreement is hereby accepted, and the terms and conditions thereof hereby agreed to by the undersigned. Electronic acceptance
of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process)
is acceptable.

 

	Dated:		 	
	 	 		Grantee’s Signature
	 	 	 	
	 	 		Grantee’s Name
    and address:
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 	

 

    	 	3Exhibit 10.22

 

RESTRICTED
STOCK UNIT AWARD AGREEMENT 

FOR
NON-EMPLOYEE DIRECTORS 

UNDER
THE POLARITYTE, INC. 

2020
STOCK OPTION AND INCENTIVE PLAN 

 

Name
of Optionee: 

 

No.
of Restricted Stock Units:

 

Grant
Date: 

 

Pursuant to the PolarityTE, Inc. 2020 Stock Option and Incentive Plan as amended through the date hereof (the
“Plan”), PolarityTE, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units
listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate to one share of Common
Stock, par value $0.001 per share (the “Stock”) of the Company.

 

SECTION
1. Restrictions on Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered
or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged,
assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of
this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 

SECTION
2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the
Vesting Date or Dates specified in the following schedule so long as the Grantee remains in service as a member of the Board on
such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1 shall lapse only with
respect to the number of Restricted Stock Units specified as vested on such date.

 

	Incremental
        Number of

        Restricted
        Stock Units Vested
	 	Vesting
    Date 
	___________
    (___%)	 	
	___________
    (___%)	 	
	___________
    (___%)	 	
	___________
    (___%)	 	

 

The
Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2.

 

SECTION
3. Termination of Service. If the Grantee’s service with the Company and its Subsidiaries terminates for any reason
(including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted
Stock Units that have not vested as of such date shall automatically and without notice terminate and be forfeited, and neither
the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights
or interests in such unvested Restricted Stock Units.

 

SECTION
4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date (but in no event later than two and
one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number
of shares of Stock equal to the aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement
on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares.

 

SECTION
5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed
by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan.
Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 

    	 

    	 

    

 

SECTION
6. Section 409A of the Code. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement
of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in
Section 409A of the Code.

 

SECTION
7. No Obligation to Continue as a Director. Neither the Plan nor this Award confers upon the Grantee any rights with respect
to continuance as a Director.

 

SECTION
8. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes
all prior agreements and discussions between the parties concerning such subject matter.

 

SECTION
9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity
grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”)
may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of
the Plan or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee (i) authorizes
the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy
rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit
such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which
the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information.
Relevant Information will only be used in accordance with applicable law.

 

SECTION
10. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall
be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one
party may subsequently furnish to the other party in writing.

 

	 	POLARITYTE,
    INC.
	 	 	 
	 	By:
    	              
	 	Name:	 
	 	Title:
    	 

 

    	2

    	 

    

 

The
foregoing Agreement is hereby accepted, and the terms and conditions thereof hereby agreed to by the undersigned. Electronic acceptance
of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process)
is acceptable.

 

	Dated:
    	 	 	 
	 	 	 	Grantee’s
    Signature
	 	 	 	 
	 	 	 	Grantee’s
    Name and address:
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	3

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