Document:

Exhibit
10.9

 

 

 

SERVICE
AGREEMENT

  

	(1)	Tiziana
    LIFE SCIENCES PLC
	(2)	Shailubhai
    Kunwar

  

Dated
23 May 2017

 

     

     

    

 

 

 

Contents

 

	SERVICE AGREEMENT	1
	1.	Definitions
    and interpretation	1
	2.	Appointment	3
	3.	Term	3
	4.	Duties	3
	5.	Director
    Indemnity and Insurance	4
	6.	Hours
    of work	4
	7.	Place
    of Work	4
	8.	Expenses	5
	9.	Salary	5
	10.	Bonus	5
	11.	Pension	6
	12.	Share
    Option and Long Term Incentive Plan	6
	13.	Other
    Benefits	6
	14.	Holidays	7
	15.	Sickness
    Absence	7
	16.	Sick
    Pay	8
	17.	Obligations
    during Employment	9
	18.	Confidential
    Information	10
	19.	Intellectual
    Property	10
	20.	Garden
    Leave	11
	21.	Payment
    in lieu of notice	12
	22.	Summary
    Termination	13
	23.	Reconstruction
    and Amalgamation	14
	24.	Obligations
    after Employment	14
	25.	Property	14
	26.	Resignation
    from Appointments	14
	27.	Suspension	14
	28.	Disciplinary
    and Dismissal Rules	15
	29.	Grievance	15
	30.	Data
    Protection	15
	31.	Warranty	16
	32.	Deductions	16
	33.	Power
    of Attorney	16
	34.	Collective
    Agreements	16
	35.	Entire
    Agreement	16
	36.	Third
    Parties	16
	37.	Releases
    and waivers	16
	38.	Notices	17
	39.	Variation	17
	40.	Counterparts	17
	41.	Governing
    law and jurisdiction	17
	Schedule 1	18
	(Post termination restrictions)	18

 

     

     

    

 

 

 

This
Agreement is made on                            
2017

 

Between:

 

		(1)	TIZIANA
                                         LIFE SCIENCES PLC (company number: 03508592) whose registered office is at 3rd Floor
                                         11-12 St. James’s Square, London, United Kingdom, SW1Y 4LB (the “Company”);
                                         and

 

		(2)	Shailubhai
                                         Kunwar of
                                         2707 Bald Eagle Circle, Norristown, PA 19403, USA (“You”).

 

It
is agreed as follows:

 

		1.	Definitions
                                         and interpretation

 

		1.1	In
                                         this Agreement, unless the context otherwise requires:

 

“Agreement”
means this Agreement (including any schedule or annexure to it).

 

“Board”
means the board of directors of the Company from time to time and includes any committee of the Board duly appointed by it.

 

“Businesses”
means the development of therapeutics and diagnostics for cancers and immune diseases and any trade or other commercial activity
which is carried on by the Company and/or any Group Company, or which the Company and/or any Group Company shall have determined
to carry on with a view to profit in the immediate or foreseeable future.

 

“Commencement
Date” means 24 May 2017.

 

“Confidential
Information” means any trade secrets or other information which is confidential, commercially sensitive and is not in
the public domain relating or belonging to the Company and/or any Group Company including but not limited to:

 

		(a)	information
                                         relating to the business methods, corporate plans, management systems, finances, new
                                         business opportunities, research and development projects, marketing or sales of any
                                         past, present or future product or service;

 

		(b)	secret
                                         formulae, processes, inventions, designs, know-how discoveries, technical specifications
                                         and other technical information relating to the creation, production or supply of any
                                         past, present or future product or service of the Company and/or any Group Company;

 

		(c)	lists
                                         or details of customers, potential customers or suppliers or the arrangements made with
                                         any customer or supplier; and

 

		(d)	any
                                         information in respect of which the Company and/or any Group Company owes an obligation
                                         of confidentiality to any third party.

 

“Duties”
means your duties as referred to in clause 4.

 

“Employment”
means your period of employment under this Agreement which shall be deemed to include any period of garden leave served under
clause 20.

 

“Group
Companies” or “Group” means the Company, Rasna Therapeutics Inc. and any holding company or any parent
company or any subsidiary or subsidiary undertaking of the Company, Rasna Therapeutics Inc. or such companies, as such terms are
defined in s 1159, s 1162 (together with Schedule 7 and the definition of “parent company” in s 1173), s 1161 and Schedule
6 of the Companies Act 2006, and “Group Company” means any of them.

 

    	 	1	 

     

    

 

 

 

“HMRC”
means Her Majesty’s Revenue and Customs.

 

“Holiday
Year” means the period 1 January to 31 December or such other period of one year as the Company may notify to you in
writing from time to time.

 

“Invention”
means any know how, technique, process, improvement, invention or discovery (whether patentable or not) which you (whether
alone or with any other person) make, conceive, create, develop, write, devise or acquire at any time during your Employment and
which relates or could relate directly or indirectly to the Businesses.

 

“Material
Interest” means:

 

		(a)	the
                                         holding of any position (whether employed or engaged) or the provision of services as
                                         director, officer, employee, consultant, adviser, partner, principal, agent or volunteer;

 

		(b)	the
                                         direct or indirect control or ownership (whether jointly or alone) of any shares (or
                                         any voting rights attached to them) or debentures save for the ownership for investment
                                         purposes only of not more than 5 per cent of the issued ordinary shares of any company
                                         whose shares are listed on any Recognised Exchange; or

 

		(c)	the
                                         direct or indirect provision of any financial assistance.

 

“Model
Code” means the Model Code on directors’ dealings in securities set out in the Listing Rules contained in the FCA handbook.

 

“Pension
Scheme” means the scheme referred to in clause 11.

 

“Recognised
Exchange” means any of a recognised investment exchange (as defined in s 285 Financial Services and Markets Act 2000
(“FSMA”)), an overseas investment exchange (as defined in s 313 FSMA), or a relevant market (as defined in article 37
FSMA 2000 (Financial Promotion) Order 2005.

 

“Schemes”
means such schemes as the Company may operate from time to time, which you are eligible to participate in and which are referred
to in clause 13.1.

 

“Termination
Date” means the date on which the Employment terminates.

 

“Works”
means all works including without limitation all copyright works or designs originated, conceived, developed or written by
you alone or with others during the Employment which relate to or could relate to the Businesses.

 

		1.2	In
                                         this Agreement, unless the context otherwise requires:

 

		(a)	words
                                         in the singular include the plural and vice versa and words in one gender include any
                                         other gender;

 

		(b)	a
                                         reference to a statute or statutory provision includes:

 

		(i)	any
                                         subordinate legislation (as defined in Section 21(1), Interpretation Act 1978) made under
                                         it; and

 

		(ii)	any
                                         statute or statutory provision which modifies, consolidates, re-enacts or supersedes
                                         it;

 

    	 	2	 

     

    

 

 

 

		(c)	a
                                         reference to:

  

		(i)	a
                                         “person” includes any individual, firm, body corporate, association
                                         or partnership, government or state (whether or not having a separate legal personality);

 

		(ii)	clauses
                                         and schedules are to clauses and schedules of this Agreement and references to sub-clauses
                                         and paragraphs are references to sub-clauses and paragraphs of the clause or schedule
                                         in which they appear; and

 

		(iii)	“indemnify”
                                         and “indemnifying” any person against any circumstance include indemnifying
                                         and keeping him harmless from all actions, claims and proceedings from time to time made
                                         against him and all loss or damage and all payments (including fines, penalties and interest,
                                         costs or expenses) made or incurred by that person as a consequence of or which would
                                         not have arisen but for that circumstance;

 

		(d)	Except
                                         where otherwise stated, words and phrases defined in the City Code on Take-overs and
                                         Mergers or in the Companies Act 2006 have the same meaning in this Agreement.

 

		2.	Appointment

 

The
Company appoints you and you agree to serve as Chief Executive Officer and Chief Scientific Officer of the Company or such other
position as the Company may reasonably require from time to time on the terms of this Agreement.

 

		3.	Term

 

		3.1	Your
                                         Employment with the Company shall commence on the Commencement Date. No previous employment
                                         shall count as part of your continuous period of employment nor shall your prior (and
                                         continuing directorship of the Company.

 

		3.2	Subject
                                         to the terms of this Agreement, your Employment shall continue until terminated by either
                                         party giving to the other not less than 12 months’ prior written notice.

 

		4.	Duties

 

		4.1	You
                                         shall carry out such duties as attach to your offices of Chief Executive Officer and
                                         Chief Scientific Officer and any other duties for the Company and/or any Group Company
                                         which the Board assigns to you from time to time. It is agreed that your duties shall
                                         extend to acting as Chief Executive Officer of the Company; it being agreed that this
                                         appointment is included in the scope of your duties and compensation and the Board may
                                         at any time terminate this aspect of your duties, but so that no termination shall give
                                         rise to any termination or this Agreement either expressly or by implication and no termination
                                         of the role of Chief Executive Officer shall give rise to any right of compensation for
                                         loss of office.

 

		4.2	Without
                                         additional remuneration, you shall accept and hold for such period(s) as specified by
                                         the Board, any office(s) including any post(s) as director, trustee, nominee and/or representative
                                         of the Company and/or any Group Company.

 

		4.3	Subject
                                         to the terms of this Agreement, you shall:

 

		(a)	devote
                                         such of your working time and attention to the Employment hereunder as may be agreed
                                         with the Board from time to time;

 

		(b)	perform
                                         the Duties faithfully and diligently and exercise such powers consistent with those Duties
                                         as are assigned to or vested in you by the Company and/or any Group Company and in all
                                         cases you shall do so jointly with any person(s) appointed by the Board from time to
                                         time;

 

    	 	3	 

     

    

 

 

 

		(c)	comply
                                         with all common law, fiduciary and statutory duties to the Company and any Group Company,
                                         including, but not limited to the seven statutory duties set out in s 171 – 177
                                         Companies Act 2006, so far as they are in force;

 

		(d)	obey
                                         all lawful and reasonable directions of the Board;

 

		(e)	observe
                                         in form and spirit such restrictions or limitations as may from time to time be imposed
                                         by the Board;

 

		(f)	implement
                                         and observe in form and spirit any relevant Company and/or Group Company policy, procedures,
                                         rules and regulations (whether formal or informal);

 

		(g)	use
                                         your best endeavours to foster the Company’s interests and save where this causes a conflict
                                         with the Company’s interests, those of its other Group Companies;

 

		(h)	report
                                         to the Board any relevant wrongdoing (including any misconduct or dishonesty) whether
                                         committed, contemplated or discussed by any director, employee or worker of the Company
                                         and/or any Group Company of which you are aware and irrespective of whether this may
                                         involve any degree of self-incrimination; and

 

		(i)	keep
                                         the Board properly and fully informed in such manner prescribed (with explanations where
                                         requested) of your compliance with the Duties and the affairs of the Company and/or any
                                         Group Company.

 

		5.	Director
                                         Indemnity and Insurance

 

		5.1	The
                                         Company shall indemnify and keep you indemnified from any liability incurred by you for
                                         negligence, default, breach of duty or breach of trust in relation to the affairs of
                                         the Company to the extent permitted by the Companies Act 2006 (as amended) and the Company’s
                                         articles of association from time to time. If the Company’s articles of association are
                                         amended at any time to preclude the Company providing this indemnity to you, the Company
                                         shall indemnify and keep you indemnified in respect of any liability incurred by you
                                         as a result.

 

		5.2	The
                                         Company may also, to the extent permitted by the Companies Act 2006 (as amended), fund
                                         your expenditure on defending proceedings brought under the heads of liability set out
                                         in clause 5.1 above.

 

		5.3	The
                                         provisions of this indemnity shall survive the termination of this Agreement howsoever
                                         caused, but in relation to each head of liability set out in paragraph 5.1 above, shall
                                         automatically terminate and no longer be of any force or effect upon the expiration of
                                         the relevant limitation period for bringing a claim under that head.

 

		5.4	Directors’
                                         and officers’ liability insurance is provided for all directors of the Company. The current
                                         indemnity limit is £20,000,000. Further details of this insurance can be obtained
                                         from the company secretary.

 

		6.	Hours
                                         of work

 

You
shall work such hours as may be necessary for the proper discharge of your Duties. You agree that your employment falls within
Regulation 20 of the Working Time Regulations 1998.

 

		7.	Place
                                         of Work

 

		7.1	Your
                                         principal place of work shall be at the offices of the Company’s subsidiary in
                                         the United States of America at 3805 Old Easton Road, Doylestown, PA. The Company reserves
                                         the right to change your principal place of work on giving reasonable prior notice to
                                         you.

  

		7.2	You
                                         shall travel to and work on a temporary basis from such locations within and outside
                                         of the United States of America and Europe as the Board may reasonably require. There
                                         is no current requirement for you to work outside the United States of America for any
                                         consecutive period of one month or more.

 

    	 	4	 

     

    

 

 

 

		8.	Expenses

 

		8.1	The
                                         Company will reimburse to you (or as the case may be procure the reimbursement of) all
                                         expenses wholly, properly and necessarily incurred by you in the performance of the Duties
                                         subject to production within 30 days of the expense being incurred of such receipts or
                                         other evidence of expenditure as the Company may reasonably require and in accordance
                                         with the Company’s policy on expenses in force from time to time.

 

		8.2	If
                                         you are provided with any credit or charge card by the Company, you must take good care
                                         of it and use it solely for expenses incurred by you in carrying out the Duties and in
                                         accordance with any applicable Company policy. The loss of any such card must be reported
                                         immediately to the Company and it must be returned to the Company immediately upon request.

 

		9.	Salary

 

		9.1	You
                                         will be paid a salary of $300,000 per annum (on the basis that your Duties will involve
                                         working hours of approximately 50% of a full-time position but otherwise subject to adjustment
                                         to be agreed with the Board), subject to deduction of such tax and national insurance
                                         and/or social security contributions as the Company is required by law to deduct and
                                         which is inclusive of any fees you are entitled to as a director of the Company and/or
                                         any Group Company.

 

		9.2	Your
                                         salary will accrue from day to day and is payable in equal monthly instalments in arrears
                                         on or about the last working day of each month, directly into a bank or building society
                                         account nominated by you.

 

		9.3	Your
                                         salary will be reviewed by the Board on or about 28 February each year, save where you
                                         are working under notice of termination. There is no obligation on the Board to increase
                                         your salary. Any increase awarded will be effective from the date specified by the Board.

 

		9.4	The
                                         Company may, in its absolute discretion, pay additional remuneration to you, whether
                                         by way of bonus or otherwise. Any such payment shall not form part of your salary for
                                         the purposes of this clause 9.

 

		10.	Bonus

 

		10.1	The
                                         Company may award you a bonus of such amount and subject to such conditions (including,
                                         but not limited to, conditions for and timing of payment, subject to clause 10.5) as
                                         the Board may in its absolute discretion determine from time to time. It is expected
                                         that that bonus eligibility will be equal to 35% of the salary figure set out in clause
                                         9.1. The Board reserves the right to award a nil bonus.

 

		10.2	Any
                                         bonus awarded to you shall be purely discretionary, shall not form part of your contractual
                                         remuneration under this Agreement and shall not be pensionable. The making of an award
                                         shall not oblige the Company to make any subsequent bonus awards.

 

		10.3	Notwithstanding
                                         clause 10.1, you shall have no right to be awarded or where an award has been made, paid
                                         a bonus (pro rata or otherwise) if:

 

		(a)	you
                                         are subject to any capability and/or disciplinary procedures; and/or

 

		(b)	your
                                         employment has terminated (whether lawfully or unlawfully) or you are under notice of
                                         termination (whether given by you or the Company).

 

    	 	5	 

     

    

 

 

 

		10.4	If
                                         you have been notified that you are under investigation in accordance with our disciplinary
                                         or capability procedure then your eligibility to be considered for a discretionary bonus
                                         will be postponed pending the conclusion of any such investigation and any subsequent
                                         disciplinary hearing or capability meeting.

 

		10.5	Any
                                         earned bonus will be paid in accordance with the Company’s bonus payment practices in
                                         effect from time to time for senior executives of the Company, but no later than March
                                         15 of the calendar year immediately following the calendar year for which the bonus is
                                         being measured.

 

		11.	Pension

 

		11.1	The
                                         Company will comply with the employer pension duties in accordance with part 1 of the
                                         Pensions Act 2008.

 

		11.2	A
                                         contracting out certificate is not in force in respect of the Employment.

 

		12.	Share
                                         Option and Long Term Incentive Plan

 

		12.1	The
                                         terms of the Employment shall not be affected in any way by your participation or entitlement
                                         to participate in any long term incentive plan or share option scheme. Such schemes and/or
                                         plans shall not form part of the terms of the Employment (express or implied).

 

		12.2	The
                                         Board has agreed to make an initial grant of 4,000,000 share options in respect of the
                                         Company’s ordinary shares to you on execution of this Agreement. The options will
                                         be subject to the rules of the Company’s share option scheme and will vest in four
                                         equal instalments on the anniversary dates of this Agreement and will be exercisable
                                         at market price as determined in accordance with the rules of the Company’s share
                                         option scheme.

 

		12.3	In
                                         calculating any payment, compensation or damages on the termination of the Employment
                                         for whatever reason (whether lawful or unlawful) which might otherwise be payable to
                                         you, no account shall be taken of your participation in any such schemes and/or plans
                                         referred to in clause 12.1 or any impact upon participation such termination may have.

 

		13.	Other
                                         Benefits

 

		13.1	Subject
                                         to clauses 13.2 to 13.7 below, you shall be entitled to participate in such benefit schemes
                                         as the Company may operate from time to time and in which you are eligible to participate
                                         including:

 

		(a)	the
                                         permanent health insurance scheme;

 

		(b)	the
                                         life assurance scheme; and

 

		(c)	the
                                         private medical expenses insurance scheme.

 

		13.2	The
                                         Company will agree with you as regards how participation is shared between the Company’s
                                         Schemes and those of Rasna Therapeutics Inc.

 

		13.3	Participation
                                         and entitlement to benefits under any of the Schemes is subject to:

 

		(a)	the
                                         terms of the relevant Scheme as amended from time to time;

 

		(b)	the
                                         rules or policies as amended from time to time of the relevant Scheme provider;

 

		(c)	acceptance
                                         by the relevant Scheme provider; and

 

		(d)	satisfaction
                                         of the normal underwriting requirements of the relevant Scheme provider and the premium
                                         being at a rate which the Company considers reasonable.

 

    	 	6	 

     

    

 

 

 

		13.4	The
                                         Company shall only be obliged to make any payment under any Scheme where it has received
                                         payment from the relevant Scheme provider for that purpose. If a Scheme provider refuses
                                         to provide any benefit to you, whether based on its own interpretation of the terms and/or
                                         rules of the relevant Scheme or otherwise, the Company shall not be liable to provide
                                         you with any replacement benefit whatsoever or pay any compensation in lieu of such benefit.

 

		13.5	The
                                         Company, in its absolute discretion, reserves the right to discontinue, vary or amend
                                         any of the Schemes (including the provider and/or level of cover provided under any Scheme)
                                         at any time on reasonable notice to you.

 

		13.6	Any
                                         other benefit provided to you shall, unless otherwise agreed in writing, be at the absolute
                                         discretion of the Company who may, at any time, withdraw or vary the terms of any such
                                         benefit as it sees fit.

 

		13.7	You
                                         agree that the Company shall be under no obligation to continue this Agreement and the
                                         Employment so that you continue to receive benefits under this Agreement. In particular,
                                         you agree that the Company may terminate the Employment notwithstanding any rights which
                                         you may have to participate in and/or obtain benefits under any permanent health insurance
                                         scheme which the Company operates from time to time. You agree that you shall have no
                                         entitlement to compensation or otherwise from the Company and/or any Group Company for
                                         the loss of any such entitlements and/or benefits.

 

		14.	Holidays

 

		14.1	In
                                         addition to the usual public or bank holidays in England and Wales, you are entitled
                                         to 20 working days’ paid holiday in each Holiday Year (pro rated to the nearest half
                                         day for the Holiday Year in which the Employment commences and terminates) and pro rated
                                         according to the scope of your hours as compared to a full time employee.

 

		14.2	Holiday
                                         must be taken at such times as are agreed with the Board. On giving at least 5 days’
                                         notice, the Company may require you to take any accrued but untaken holiday where you
                                         are under notice of termination (including where you are on garden leave pursuant to
                                         clause 20).

 

		14.3	You
                                         may carry forward 5 working days’ holiday to the next Holiday Year with the consent of
                                         the Board and provided that such holiday is used by 31 March in the next Holiday Year.
                                         Save as provided for in clause 14.4 no payment in lieu will be made of any unused holiday
                                         entitlement in any Holiday Year.

 

		14.4	On
                                         termination of the Employment:

 

		(a)	you
                                         will be entitled to pay in lieu of any accrued but untaken holiday entitlement; or

 

		(b)	you
                                         will be required to repay to the Company any salary received for holiday taken in excess
                                         of your accrued entitlement (which you agree may be deducted from any payments, including
                                         salary, due to you from the Company).

 

Any
payment or repayment pursuant to this clause will be calculated on the basis of 1/260 of your salary payable pursuant to clause
9 for each day of holiday. It will not be calculated on any entitlement to bonus, commission, allowance or other payment.

 

		15.	Sickness
                                         Absence

 

		15.1	If
                                         you are unable to perform the Duties due to sickness or injury, you must comply with
                                         the Company’s sickness policy from time to time in force.

 

    	 	7	 

     

    

 

 

 

		15.2	If
                                         at any time in the reasonable opinion of the Board you are unable to perform all or part
                                         of the Duties, you will at the request and expense of the Company:

 

		(a)	consent
                                         to an examination by a doctor nominated by the Company; and

 

		(b)	authorise
                                         the doctor to disclose to and discuss with the Company, his or her report (including
                                         copies) of the examination and your fitness for work.

 

		15.3	The
                                         Company is entitled to rely on the reasonable opinion of any doctor engaged to examine
                                         you under clause 15.2 as to your fitness for work. Where such doctor considers you to
                                         be unfit for work, you are not entitled to receive any payment in excess of any sick
                                         pay entitlement pursuant to clause 16.

 

		16.	Sick
                                         Pay

 

		16.1	Subject
                                         to compliance with clause 15 and clauses 16.2 and 16.5 below, you will be entitled to
                                         your salary (pursuant to clause 9.1) and, subject to the rules of any applicable scheme,
                                         any contractual benefits for a total of 45 days absence in any period of 12 consecutive
                                         months and after that such remuneration or benefits (if any) as the Board may in its
                                         absolute discretion determine from time to time. Any payment made to you under this clause
                                         is inclusive of your entitlement (if any) to statutory sick pay or any pay required under
                                         applicable United States federal, state, or local law (in either case. for which your
                                         qualifying days are Monday to Friday).

 

		16.2	Where
                                         your absence(s) exceed(s) 45 days in any period of 12 consecutive months, you shall have
                                         no entitlement to any remuneration or benefits pursuant to clause 16.1 (whether or not
                                         the Board has exercised its discretion to provide any additional remuneration or benefits
                                         for any absence(s) in excess of the 45 days referred to in that clause) until you have
                                         returned to work and remained at work for a continuous period of 13 weeks, unless required
                                         by applicable United States federal, state, or local law.

 

		16.3	At
                                         the absolute discretion of the Company no sick pay, except for any statutory sick pay
                                         or any pay required under applicable United States federal, state, or local law, will
                                         be payable in respect of any period where:

 

		(a)	any
                                         hearing is pending which relates to any aspect of your conduct or performance or redundancy
                                         and which could result in the imposition of a warning, dismissal or other sanction (including
                                         any performance measure); or

 

		(b)	you
                                         refuse to consent to:

 

		(i)	a
                                         medical examination at any time by a doctor appointed by the Company; and/or

 

		(ii)	the
                                         provision of your medical records to that doctor; and/or

 

		(iii)	the
                                         results of such examination being disclosed to the Company and the Company discussing
                                         such results with the relevant where the examination is germane to your ability to perform
                                         the Duties.

 

		(c)	You
                                         refuse upon request:

 

		(i)	to
                                         obtain a medical certification from your GP or another person responsible for your clinical
                                         care; and/or

 

		(ii)	to
                                         provide this certification to the Company.

 

		16.4	For
                                         the purpose of clauses 16.1 and 16.3, any delay by the Company in terminating the provision
                                         of sick pay and/or any other remuneration and/or benefits will not constitute a waiver
                                         of its right to do so.

 

    	 	8	 

     

    

 

 

 

	16.5	If
                                         your sickness or injury is or appears to be caused by the negligence, nuisance or breach
                                         of any statutory duty of a third party, in respect of which damages are or may be recoverable
                                         you shall:
	 	 	 

		(a)	immediately
                                         notify the Board of all relevant facts and of any claim, compromise, settlement or judgement
                                         made or awarded in connection with it and all relevant particulars that the Board may
                                         reasonably require; and

 

		(b)	if
                                         required by the Board, refund to the Company that part of any damages or compensation
                                         recovered by you relating to your loss of earnings for the period of sickness or injury
                                         as the Board reasonably determines provided that the amount to be refunded shall not
                                         exceed the total amount paid to you by the Company in respect of the period of sickness
                                         or injury.

 

	16.6	This
                                         clause 16 is without prejudice and does not limit in anyway the Company’s right to terminate
                                         your employment pursuant to this Agreement.

 

	16.7	This
                                         clause 16 shall be interpreted and applied consistent with all applicable laws, including
                                         but not limited to the Americans with Disabilities Act and the Family and Medical Leave
                                         Act (if applicable).

 

	17.	Obligations
                                         during Employment

 

	17.1	Save
                                         with the prior written permission of the Board, you shall not during your employment
                                         (whether during or outside normal working hours):

 

		(a)	hold
                                         any Material Interest in any person which:

 

		(i)	is
                                         or shall be wholly or partly in competition with any of the Businesses;

 

		(ii)	impairs
                                         or might reasonably be thought by the Company to impair your ability to act at all times
                                         in the best interests of the Company and/or any Group Company; and/or

 

		(iii)	requires
                                         or might reasonably be thought by the Company to require you to make use of or disclose
                                         any Confidential Information to further your interests in that person;

 

		(b)	take
                                         any preparatory steps to become engaged or interested in any capacity whatsoever in any
                                         business or venture which is in or is intended to enter into competition with any of
                                         the Businesses;

 

		(c)	carry
                                         out any public or private work other than the Duties (whether for profit or otherwise);

 

		(d)	directly
                                         or indirectly receive in respect of any goods or services sold or purchased or any other
                                         business transacted (whether or not by you) by or on behalf of the Company and/or any
                                         Group Company any discount, rebate, commission or other inducement (whether in cash or
                                         in kind) which is not authorised by the relevant Company and/or Group Company rules or
                                         guidelines. You will account to the Company for the value of any such inducement, provided
                                         that it is expressly agreed that you may continue to consult to Synergy Pharmaceuticals
                                         Inc.

 

	17.2	You
                                         shall observe relevant rules of law, requirements, recommendations, rules and regulations
                                         (as amended from time to time) of the London Stock Exchange plc or any other Recognised
                                         Exchange, the Model Code and/or the FSMA and the Company guidelines/codes relating to
                                         dealings in shares, debentures or other securities of the Company and/or any Group Company.
                                         In relation to overseas dealing you shall observe all laws and all regulations of the
                                         stock exchange, market or dealing system in which country or state such dealings take
                                         place.

 

    	 	9	 

     

    

 

 

 

	18.	Confidential
                                         Information

 

	18.1	You
                                         shall not either during the Employment or at any time after its termination (howsoever
                                         arising), directly or indirectly, use, disclose or communicate to any person whatsoever,
                                         and shall use your best endeavours to prevent the publication or disclosure of, any Confidential
                                         Information.

 

	18.2	Clause
                                         18.1 does not apply to:

 

		(a)	any
                                         use or disclosure in the proper performance of the Duties, as authorised by the Board
                                         and/or as required by law;

 

		(b)	any
                                         information which is already in or comes into the public domain other than through your
                                         unauthorised disclosure; and/or

 

		(c)	any
                                         protected disclosure within the meaning of s43A Employment Rights Act 1996 provided,
                                         where at the relevant time you are employed by the Company, you have fully complied with
                                         the Company’s procedures relating to such disclosures.

 

	19.	Intellectual
                                         Property

 

	19.1	You
                                         shall promptly disclose to the Company full details of any Invention and/or Works (including,
                                         without limitation, any and all computer programs, photographs, plans, records, drawings
                                         and models) which you (whether alone or with any other person) make, conceive, create,
                                         develop, write, devise or acquire at any time during the Employment and which relates
                                         or could relate directly or indirectly to the Businesses. You shall treat all Inventions
                                         and Works as Confidential Information of the Company and/or any Group Company.

 

	19.2	To
                                         the extent not already vested in the Company and/or any Group Company by operation of
                                         law, you:

 

		(a)	shall
                                         hold any Invention and/or Work on trust for the Company and/or any Group Company until
                                         any rights to such Invention and/or Work have been fully and absolutely vested in the
                                         Company in accordance with the remaining provisions of this clause 19;

 

		(b)	shall
                                         subject to clauses 39-43 of the Patents Act 1977 assign to the Company all patents and
                                         rights to apply for patents or other appropriate forms of protection in each Invention
                                         throughout the world;

 

		(c)	hereby
                                         assign by way of present and future assignment all copyright, design rights and other
                                         proprietary intellectual property rights (if any) for their full terms throughout the
                                         world in respect of the Works.

 

		(d)	shall
                                         execute any document necessary to assign to the Company any rights referred to under
                                         this clause 19 and at the request and expense of the Company, do all things necessary
                                         or desirable (including entering into any agreement that the Company reasonably requires)
                                         to vest such rights in the Company including without limitation applying and joining
                                         in with the Company in applying for any protection for or registration of any such rights
                                         to enable the Company and/or any Group Company and/or its or their nominee to obtain
                                         the full benefit and/or substantiate the rights of the Company and/or any Group Company
                                         under paragraphs (a), (b) and (c).

 

	19.3	You
                                         acknowledge and agree that the patenting and exploitation of any Invention shall be at
                                         the sole discretion of the Company.

 

	19.4	You
                                         irrevocably and unconditionally waive in favour of the Company and/or any Group Company
                                         any and all moral rights conferred on you by Chapter IV, Part I, Copyright Designs and
                                         Patents Act 1988 and any other moral rights provided for under the laws now or in future
                                         in force in any part of the world for any Work the rights in which are vested in the
                                         Company whether by clause 19.2 or otherwise.

 

    	 	10	 

     

    

 

 

 

	19.5	You
                                         irrevocably appoint the Company to be your attorney in your name and on your behalf to
                                         execute documents, use your name and do all things which are necessary or desirable for
                                         the Company to obtain for itself or its nominee the full benefit of this clause. A certificate
                                         in writing, signed by any director or the secretary of the Company, that any instrument
                                         or act falls within the authority conferred by this Agreement shall be conclusive evidence
                                         that such is the case so far as any third party is concerned.

 

	20.	Garden
                                         Leave

 

	20.1	During
                                         any period of notice to terminate the Employment (whether given by you or the Company),
                                         or if you purport to terminate the Employment in breach of this Agreement, the Board
                                         may for all or part of that period, in its absolute discretion (and notwithstanding any
                                         other provisions of this Agreement) require you:

 

		(a)	to
                                         perform only such of the Duties as it may allocate to you or such other projects or duties
                                         as may be required (whether or not they fall within clause 4);

 

		(b)	not
                                         to perform any of the Duties;

 

		(c)	not
                                         to have any contact (other than purely social contact) or deal with (or attempt to contact
                                         or deal with) any officer, employee, consultant, client, customer, supplier, agent, distributor,
                                         shareholder, adviser or other business contact of the Company and/or any Group Company
                                         save as determined by the Board;

 

		(d)	to
                                         disclose to the Board any attempted contact (other than purely social contact) with any
                                         person with whom you have been required not to have any contact pursuant to this clause;

 

		(e)	to
                                         take any accrued holiday entitlement (in accordance with clause 14.2);

 

		(f)	not
                                         to enter any premises of the Company and/or any Group Company nor to visit the premises
                                         of any suppliers and/or customers of the Company and/or any Group Company;

 

		(g)	to
                                         return as requested by the Board any mobile telephone handset, SIM card, laptop computer
                                         and/or any other Company and/or Group Company property, including Confidential Information,
                                         the Board may require; and/or

 

		(h)	to
                                         resign immediately from any offices you hold in the Company and/or any Group Company.

 

	20.2	You
                                         agree that any action taken on the part of the Company and/or any Group Company pursuant
                                         to clause 20.1 shall not constitute a breach of this Agreement of any kind whatsoever
                                         nor will you have any claim against the Company and/or any Group Company in respect of
                                         such action.

 

	20.3	Without
                                         prejudice to any other terms of this Agreement and save as expressly agreed otherwise
                                         in clause 20.1 above, during any period in which action is taken on the part of the Company
                                         and/or any Group Company pursuant to clause 20.1:

 

		(a)	you
                                         shall continue to be entitled to your salary and contractual benefits save that, should
                                         you work for any other person or on your own account and fail to be available for work
                                         at any time, your right to salary and contractual benefits in respect of such period
                                         of non-availability shall be forfeit, notwithstanding any other provision of this Agreement;

 

    	 	11	 

     

    

 

 

 

		(b)	you
                                         shall owe a duty of utmost good faith to the Company and/or any Group Company; and

 

		(c)	you
                                         shall remain an employee of the Company and be bound by the terms and conditions of this
                                         Agreement. In particular, you agree that you will not work for any other person or on
                                         your own account and save, during any periods of holiday taken under this Agreement,
                                         you shall remain readily contactable and available to work for the Company and/or any
                                         Group Company.

 

	21.	Payment
                                         in lieu of notice

 

	21.1	The
                                         Company may in its absolute discretion, terminate the Employment at any time with immediate
                                         effect and pay you a sum equal to the basic salary you would have received during your
                                         notice period pursuant to clause 9.1 (or, if notice has already been given, during the
                                         remainder of the notice period) less income tax and National Insurance contributions
                                         (“Payment in Lieu”). The Payment in Lieu shall not include any payment
                                         in respect of:

 

		(a)	any
                                         bonus or commission payments that might otherwise have been paid to you during the period
                                         for which the Payment in Lieu is made;

 

		(b)	benefits
                                         which you would have been entitled to receive during the period for which the Payment
                                         in Lieu is made; or

 

		(c)	any
                                         holiday entitlement that would have accrued to you during the period for which the Payment
                                         in Lieu is made.

 

	21.2	The
                                         Company will make any payment pursuant to clause 21.1, at its absolute discretion, either
                                         within 28 days of the termination of your employment or in equal monthly instalments
                                         in arrears until the date on which the period of notice referred to in clause 21.1 would
                                         have expired.

 

	21.3	You
                                         shall have no right to receive a Payment in Lieu unless the Company has exercised its
                                         discretion in clause 21.1. Nothing in this clause 21 shall prevent the Company from terminating
                                         your Employment in breach.

 

	21.4	If
                                         having elected to make a Payment in Lieu but either before or after the payment (or any
                                         instalment of it) is made, it comes to the Company’s attention that it may have been
                                         entitled to terminate your employment summarily for a reason within clause 23 or otherwise,
                                         then the Company reserves the right not to make the Payment in Lieu (or any outstanding
                                         instalment of it) and/or to demand the immediate repayment of it or any instalment which
                                         has already been paid.

 

    	 	12	 

     

    

 

 

 

	21.5	Notwithstanding
                                         anything to the contrary herein, the following provisions apply to the extent the Payment
                                         in Lieu of notice provided herein is subject to Section 409A of the Internal Revenue
                                         Code (the “Code”) and the regulations and other guidance thereunder
                                         and any state law of similar effect (collectively “Section 409A”).
                                         The Payment in Lieu shall not commence until the you have had a “separation from
                                         service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard
                                         to any alternative definition thereunder, a “separation from service”). Each
                                         installment of the Payment in Lieu is a separate “payment” for purposes of
                                         Treas. Reg. Section 1.409A-2(b)(2)(i), and the Payments in Lieu are intended to satisfy
                                         the exemptions from application of Section 409A provided under Treasury Regulations Sections
                                         1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if such exemptions are not
                                         available and you are, upon separation from service, a “specified employee”
                                         for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal
                                         tax consequences under Section 409A, the timing of the Payments in Lieu shall be delayed
                                         until the earlier of (i) six (6) months and one day after your separation from service,
                                         (ii) your death or (iii) such earlier date as permitted under Section 409A without the
                                         imposition of adverse taxation. Upon the first business day following the expiration
                                         of such applicable Section 409A period, all payments deferred pursuant to this paragraph
                                         shall be paid in a lump sum to you, and any remaining payments due shall be paid as otherwise
                                         provided herein or in the applicable agreement. No interest shall be due on any amounts
                                         so deferred. The parties acknowledge that the exemptions from application of Section
                                         409A to the Payments in Lieu are fact specific, and any later amendment of this Agreement
                                         to alter the timing, amount or conditions that will trigger payment of the Payments in
                                         Lieu may preclude the ability of the Payments in Lieu provided under this Agreement to
                                         qualify for an exemption. To the extent that the Payments in Lieu or other benefits are
                                         deferred compensation under Section 409A, and are not otherwise exempt from the application
                                         of Section 409A, then, if the period during which you may consider and sign the Release
                                         spans two calendar years, the payment of such severance payments and benefits will not
                                         be made or begin until the later calendar year. It is intended that this Agreement shall
                                         comply with the requirements of Section 409A, and any ambiguity contained herein shall
                                         be interpreted in such manner so as to avoid adverse personal tax consequences under
                                         Section 409A. Notwithstanding the foregoing, the Company shall in no event be obligated
                                         to indemnify you for any taxes or interest that may be assessed by the Internal Revenue
                                         Service pursuant to Section 409A of the Code to payments made pursuant to this Agreement.

 

	22.	Summary
                                         Termination

 

	22.1	The
                                         Company may terminate the Employment at any time, without notice or pay in lieu of notice,
                                         and with no liability to make any further payment to you, save for the amounts accrued
                                         due to the Termination Date, if:

 

		(a)	you
                                         commit any act of gross misconduct;

 

		(b)	your
                                         conduct (whether or not it occurs during or in the context of the Employment) is such
                                         that it may in the reasonable opinion of the Board bring the Company and/or any Group
                                         Company into disrepute and/or is calculated or likely prejudicially to affect the interests
                                         of the Company and/or any Group Company;

 

		(c)	you
                                         are negligent and/or incompetent in the reasonable opinion of the Board in the performance
                                         of your Duties;

 

		(d)	you
                                         commit any serious or repeated breach of this Agreement;

 

		(e)	you
                                         are convicted of any criminal offence (other than an offence under the road traffic legislation
                                         in the United Kingdom or abroad for which you are not sentenced to any term of imprisonment,
                                         whether immediate or suspended);

 

		(f)	you
                                         commit any act of fraud or dishonesty or corrupt practice or a breach of the Bribery
                                         Act 2010 relating to the Company and/or any Group Company, any of its or their employees,
                                         customers or otherwise;

 

		(g)	you
                                         become prohibited by law from being a director, you are removed from office of director
                                         pursuant to the Company’s articles of association or you resign as a director other than
                                         with the prior written approval or at the written request of the Board or pursuant to
                                         clause 26;

 

		(h)	you
                                         become of unsound mind or a patient for the purposes of any statute relating to mental
                                         health so that in the opinion of the Board you are unable to perform your Duties;

 

		(i)	a
                                         bankruptcy petition is presented against you or you become bankrupt or an interim order
                                         is made in respect of you pursuant to section 252 of the Insolvency Act 1986 or you make
                                         any arrangement or composition with your creditors generally (including an Individual
                                         Voluntary Arrangement) or have a County Court administration order made against you under
                                         the County Court Act 1984.

 

    	 	13	 

     

    

 

 

 

	22.2	The
                                         rights of the Company under clause 22.1 are without prejudice to any other rights that
                                         it may have at law to terminate the Employment or accept any breach of this Agreement
                                         by you as having brought the Agreement to an end and any delay by the Company in exercising
                                         its rights under clause 22.1 shall not constitute a waiver of such rights.

 

	23.	Reconstruction
                                         and Amalgamation

 

If
the Employment is terminated by reason of any reconstruction or amalgamation of the Company and/or any Group Company whether by
winding up or otherwise and you are offered employment with any concern or undertaking involved in or resulting from such reconstruction
or amalgamation on terms which (considered in their entirety) are no less favourable to any material extent than the terms of
this Agreement, you shall have no claim against the Company or any such undertaking arising out of or in connection with such
termination.

 

	24.	Obligations
                                         after Employment

 

Without
prejudice to the other terms of this Agreement, you agree that following the termination of your Employment for any reason whatsoever,
you will be bound by and you will comply with the terms and conditions set out in Schedule 1 to this Agreement.

 

	25.	Property

 

At
any time during the Employment or following its termination (for whatever reason), as requested by the Company and/or any Group
Company, you agree to:

 

		(a)	return
                                         to the Company and/or any Group Company or irretrievably destroy or delete:

 

		(i)	any
                                         documents, drawings, designs, computer files or software, visual or audio tapes or other
                                         materials containing information (including, without limitation, Confidential Information)
                                         and/or any copies or extracts of the same relating to the Businesses; and

 

		(ii)	any
                                         other property of the Company and/or any Group Company

 

in
your possession, custody and/or directly or indirectly under your control;

 

		(b)	inform
                                         the Company of all passwords, pass codes, pin numbers and any other similar information
                                         used by you in relation to any information technology systems, vehicles, rooms and/or
                                         any other secured property of the Company and/or any Group Company.

 

	26.	Resignation
                                         from Appointments

 

	26.1	At
                                         any time, at the request of the Company and/or any Group Company, you agree to resign
                                         from any directorships, offices, appointments and/or trusteeships which you hold with
                                         the Company and/or any Group Company without claim for compensation and your resignation
                                         shall not affect in anyway the continuance of this Agreement.

 

	26.2	You
                                         irrevocably appoint the Company to be your attorney in your name and on your behalf to
                                         execute documents, use your name and do all things which are necessary or desirable for
                                         the Company to obtain the full benefit of this clause.

 

	27.	Suspension

 

In
order to investigate a complaint against you of misconduct and/or poor performance, the Company may suspend you for so long as
may be necessary to carry out a proper investigation and complete any appropriate disciplinary and/or capability process. During
any period of suspension you shall continue to receive your salary and contractual benefits.

 

    	 	14	 

     

    

 

 

 

	28.	Disciplinary
                                         and Dismissal Rules

 

	28.1	You
                                         are subject to the Company’s disciplinary rules and procedures in force from time to
                                         time a copy of which is available upon request and such other procedures of this nature
                                         as may from time to time be adopted. Application of such procedure is at the Company’s
                                         discretion and is not a contractual entitlement.

 

	28.2	If
                                         you are dissatisfied with any disciplinary decision to dismiss you, you should refer
                                         such dissatisfaction in writing in accordance with the applicable Company procedure.

 

	29.	Grievance

 

If
you have any grievance relating to the Employment (other than one relating to a disciplinary decision or a decision to dismiss
you), you should refer such grievance in writing in accordance with the Company’s grievance procedure in force from time to time
(a copy of which is available upon request). If the grievance is not resolved at this stage, you can appeal in accordance with
the appeal procedure set out in the appropriate procedure. Application of the grievance procedure is discretionary and not a contractual
entitlement.

 

	30.	Data
                                         Protection

 

	30.1	The
                                         Company and any Group Company shall process your personal data (including, where necessary,
                                         sensitive personal data, such terms being defined in the Data Protection Act 1998) in
                                         their paper-based and computerised systems. You consent to the processing of such data
                                         both inside and, where necessary, outside the European Economic Area for the purposes
                                         of:

 

		(a)	salary,
                                         benefits and pensions administration and employee management;

 

		(b)	health
                                         administration and for the purposes of health insurance/benefits;

 

		(c)	training
                                         and appraisal, including performance records and disciplinary records;

 

		(d)	equal
                                         opportunities monitoring;

 

		(e)	any
                                         potential change of control of the Company and/or Group Company, or any potential transfer
                                         of employment under the Transfer of Undertakings (Protection of Employment) Regulations
                                         2006. In such circumstances, disclosure may include disclosure to the potential purchaser
                                         or investor and their advisors;

 

		(f)	promoting
                                         or marketing of the Company and/or any Group Company and/or its or their products or
                                         services;

 

		(g)	compliance
                                         with applicable procedures, laws and regulations; and/or

 

		(h)	any
                                         other reasonable purposes in connection with your employment about which you shall be
                                         notified from time to time.

 

	30.2	You
                                         acknowledge and accept that in order to fulfil the purposes set out above, it may be
                                         necessary to pass your personal data (or sensitive personal data, as appropriate) to
                                         regulatory bodies, government agencies and other third parties as required by law or
                                         for administration purposes.

 

	30.3	You
                                         acknowledge and accept that the Company and/or any Group Company may monitor electronic
                                         correspondence (including email, voice and text messages) which you receive at work and/or
                                         on Company systems and/or property provided to you by the Company and/or any Group Company
                                         for the purposes of your work in order to ensure the integrity of its information technology
                                         or to prevent or detect criminal behaviour or behaviour which contravenes employment
                                         legislation and/or other Company and/or Group Company policies.

 

    	 	15	 

     

    

 

 

 

	30.4	You
                                         agree to use all reasonable endeavours to keep the Company informed of any changes to
                                         your personal data or sensitive personal data and to comply with all relevant data protection
                                         legislation.

 

	31.	Warranty

 

	31.1	You
                                         warrant that you are not bound by nor subject to any court order, arrangement, obligation
                                         (express or implied), restriction or undertaking (contractual or otherwise) which prohibits
                                         or restricts you from entering into this Agreement or performing the Duties.

 

	31.2	You
                                         undertake to indemnify the Company and/or any Group Company against any claims, costs,
                                         damages, liabilities and/or expenses which the Company and/or any Group Company may incur
                                         as a result of any claim that you are in breach of any order, arrangement, obligation,
                                         restriction or undertaking referred to in clause 31.1.

 

	31.3	You
                                         warrant that you are entitled to work in the United Kingdom without any additional approvals
                                         and will notify the Company immediately if you cease to be so entitled during the course
                                         of your employment.

 

	31.4	You
                                         warrant that you have no previous convictions and have not previously been reported for
                                         or been subject to investigation for bribery related offences including, without limitation,
                                         offences under the Bribery Act 2010.

 

	32.	Deductions

 

You
agree that at any time the Company may deduct from your salary or any other sums owed to you any money you owe to the Company
and/or any Group Company.

 

	33.	Power
                                         of Attorney

 

If
you fail to comply with any request(s) under clauses 19 and/or 26, you irrevocably authorise the Company and/or any Group Company
to appoint a person in your name and on your behalf to sign any documents or do any things necessary or requisite for the purposes
of giving the Company and/or any Group Company and its or their nominee the full benefit of such clauses.

 

	34.	Collective
                                         Agreements

 

There
are no collective agreements which affect the terms and conditions of your employment.

 

	35.	Entire
                                         Agreement

 

This
Agreement sets out the entire agreement and understanding between the parties and supersedes all prior agreements, understandings
or arrangements (oral or written) in respect of your employment or engagement by the Company. No purported variation of this Agreement
shall be effective unless it is in writing and signed by or on behalf of each of the parties.

 

	36.	Third
                                         Parties

 

Unless
expressly provided in this Agreement, no term of this Agreement is enforceable pursuant to the Contracts (Rights of Third Parties)
Act 1999 by any person who is not a party to it.

 

	37.	Releases
                                         and waivers

 

	37.1	The
                                         Company may, in whole or in part, release, compound, compromise, waive or postpone, in
                                         its absolute discretion, any liability owed to it or right granted to it in this Agreement
                                         by you without in any way prejudicing or affecting its rights in respect of any part
                                         of that liability or any other liability or right not so released, compounded, compromised,
                                         waived or postponed.

 

    	 	16	 

     

    

 

 

 

	37.2	No
                                         single or partial exercise, or failure or delay in exercising any right, power or remedy
                                         by the Company shall constitute a waiver by it of, or impair or preclude any further
                                         exercise of, that or any right, power or remedy arising under this Agreement or otherwise.

 

	38.	Notices

 

	38.1	Any
                                         notice to a party under this Agreement shall be in writing signed by or on behalf of
                                         the party giving it and shall, unless delivered to a party personally, be hand delivered,
                                         or sent by prepaid first class post or facsimile.

 

	38.2	A
                                         notice shall be deemed to have been served:

 

		(a)	at
                                         the time of delivery if delivered personally to a party or to the specified address;

 

		(b)	on
                                         the second working day after posting by first class prepaid post; or

 

		(c)	2
                                         hours after transmission if served by facsimile on a business day prior to 3pm or in
                                         any other case at 10 am on the business day after the date of despatch.

 

	39.	Variation

 

No
variation or agreed termination of this Agreement shall be effective unless it is in writing and signed by the parties (or their
authorised representatives).

 

	40.	Counterparts

 

	40.1	This
                                         Agreement may be executed in any number of counterparts, each of which when executed
                                         and delivered shall constitute a duplicate original, but all the counterparts shall together
                                         constitute the one agreement.

 

	40.2	No
                                         counterpart shall be effective until each party has executed and delivered at least one
                                         counterpart.

 

	41.	Governing
                                         law and jurisdiction

 

	41.1	This
                                         Agreement shall be governed by and construed in accordance with English law.

 

	41.2	Each
                                         of the parties irrevocably submits for all purposes in connection with this Agreement
                                         to the exclusive jurisdiction of the English courts.

 

In
witness this Deed has been executed on the date appearing at the head of page 1.

 

    	 	17	 

     

    

 

 

 

Schedule
1

 

(Post
termination restrictions)

 

	1.	Definitions
                                         and interpretation

 

		1.1	In
                                         this Schedule, unless the context otherwise requires, the following additional definitions
                                         shall apply (in addition to the definitions contained in the Agreement to which this
                                         Schedule is annexed and of which it forms a part):

 

“the
Business” means the business of the Company or any part thereof and any other business or part thereof carried on by
any Group Company as at the Termination Date and/or during the Protected Period and in respect of which the Duties have been materially
concerned or about which you have acquired Confidential Information.

 

“Customer”
means any person who at any time during the Protected Period was a customer of the Company or any Group Company and was a
person with whom you had material personal dealings or in relation to whom you have acquired Confidential Information.

 

“Garden
Leave Period” means any period during which the Company has exercised its rights pursuant to clause 20 of the Agreement
to which this Schedule is annexed.

 

“Goods
and/or Services” means any goods and/or services competitive with those supplied by the Company or any Group Company
at any time during the Protected Period and in relation to which you were materially involved or concerned or for which you were
responsible during that period.

 

“Key
Employee” means any person who at any time during the Protected Period is or was employed or engaged by the Company or
any Group Company in a senior managerial, sales, marketing, technical or supervisory capacity and with whom you dealt during that
period.

 

“Prospective
Customer” means any person who was at any time during the Protected Period engaged in negotiations, with which you were
personally involved, with the Company or any Group Company with a view to obtaining goods or services from the Company or any
Group Company or in relation to whom you have acquired Confidential Information.

 

“Protected
Period” means the 12 months immediately preceding the earlier of the Termination Date and the commencement of any Garden
Leave Period.

 

“Restriction
Period” means the period of 6 months following the Termination Date less any Garden Leave period.

 

“Supplier”
means any person with whom you have had material dealings as part of the Duties during the Protected Period and who has during
that period supplied goods or services to the Company or any Group Company on terms other than those available to another purchaser
in the market during that period, whether by reason of exclusivity (either de facto or contractually obliged), price or otherwise.

 

	2.	Obligations
                                         after employment

 

	2.1	You
                                         shall not for the Restriction Period hold a Material Interest in a business or venture
                                         which:

 

		(a)	is
                                         or is about to be in competition with the Business or any part thereof; or

 

    	 	18	 

     

    

 

 

		(b)	is
                                         likely to result in the intentional or unintentional disclosure or use of Confidential
                                         Information by you in order for you to properly discharge your duties to or further your
                                         interest in that business or venture.

 

	2.2	The
                                         provisions of clause 2.1 shall not operate so as to prevent you from being engaged, concerned
                                         or interested in any business or venture in so far as your work for that business or
                                         venture shall relate solely to services or activities with which the Duties were not
                                         concerned to a material extent or in relation to which you were not responsible and in
                                         relation to which you held no Confidential Information during the Protected Period.

 

	2.3	You
                                         shall not for the Restriction Period in respect of any Goods and/or Services:

 

		(a)	deal
                                         with or supply any Customer;

 

		(b)	deal
                                         with or supply any Prospective Customer; or

 

		(c)	offer
                                         employment or any contract for services to or employ or engage any Key Employee.

 

	2.4	You
                                         shall not for the Restriction Period in respect of any Goods and/or Services:

 

		(a)	solicit,
                                         facilitate the solicitation of or canvass the custom or business of any Customer;

 

		(b)	solicit,
                                         facilitate the solicitation of or canvass the custom or business of any Prospective Customer;
                                         or

 

		(c)	solicit
                                         or entice or endeavour to solicit or entice any Key Employee to leave his employment
                                         with or cease his directorship or consultancy with the Company or any Group Company,
                                         whether or not that person would breach any obligations owed to the Company or any relevant
                                         Group Company by so doing.

 

	2.5	You
                                         shall not for the Restriction Period:

 

		(a)	deal
                                         with or accept the supply of any goods or services from any Supplier where such supply
                                         is likely to be the detriment of any Group Company whether by causing the Supplier to
                                         reduce or alter the terms or quantity of supply to the Group Company or where the value
                                         of the Company’s arrangement with the Supplier is diminished; or

 

		(b)	solicit,
                                         facilitate the solicitation of or canvass the supply of any goods or services from any
                                         Supplier where such supply is likely to be the detriment of any Group Company whether
                                         by causing the Supplier to reduce or alter the terms or quantity of supply to the Group
                                         Company or where the value of the Group Company’s arrangement with the Supplier
                                         is diminished;

 

	2.6	If,
                                         at any time during the Employment, two or more Key Employees leave the employment of
                                         the Company or any Group Company to provide Goods and/or Services for the same business
                                         or venture, you shall not, at any time during the 6 months following the last date on
                                         which any of those Key Employees was employed by the Company or any Group Company, be
                                         employed or engaged in any way with that business or venture in respect of any Goods
                                         and/or Services.

 

	2.7	You
                                         shall not at any time after the Termination Date:

 

		(a)	induce
                                         or seek to induce by any means involving the disclosure or use of Confidential Information
                                         any Customer or Supplier to cease dealing with the Company or any Group Company or to
                                         restrict or vary the terms upon which it deals with the relevant Group Company;

 

    	 	19	 

     

    

 

 

		(b)	be
                                         held out or represented by you or any other person as being in any way connected with
                                         or interested in the Company or any Group Company; or

 

		(c)	disclose
                                         to any person or make use of any Confidential Information (except as required by law).

 

	3.	General

 

	3.1	You
                                         have given the undertakings in this Schedule to the Company as trustee for itself and
                                         each Group Company in the business of which you have been concerned or involved to any
                                         material extent during the Employment or which benefits from each undertaking. You agree
                                         that each such Group Company may enforce the benefit of each such undertaking. You shall,
                                         at the request and expense of the Company, enter into direct undertakings with any such
                                         Group Company which correspond to the undertakings in this Schedule.

 

	3.2	You
                                         agree that if the Company transfers all or any part of its business to a third party
                                         (“transferee”), the restrictions contained in this Schedule 1 shall, with effect
                                         from the date of you becoming an employee of the transferee, apply to you as if references
                                         to the Company included the transferee and references to any Group Companies were construed
                                         accordingly and as if references to customers or suppliers were of the Company and/or
                                         the transferee and their respective Group Companies.

 

	3.3	You
                                         agree that if you have material business dealings in other foreign jurisdictions on behalf
                                         of any Group Company, you will enter into undertakings providing the same level of protection
                                         for each such Group Company with such modifications (if any) as are necessary to render
                                         such undertakings enforceable in those jurisdictions.

 

	3.4	You
                                         acknowledge that you have had the opportunity to take independent legal advice in relation
                                         to the undertakings contained in this Schedule.

 

	3.5	The
                                         obligations imposed on you by this Schedule extend to you acting not only on your own
                                         account but also on behalf of any other firm, company or other person and shall apply
                                         whether you act directly or indirectly.

 

	3.6	You
                                         warrant that you believe the covenants contained within this Schedule to be reasonable
                                         as between the parties and that you have no present intention of ever arguing that the
                                         restraints are unreasonable or otherwise unenforceable.

 

    	 	20	 

     

    

 

 

	Executed
    as a Deed	)	/s/
    Kunwar Shailubhai		 
	by
    Shailubhai Kunwar	)		 
	in
    the presence of:	)		 
	 	 	 	 
	Signature
    of witness:	 	/s/
    Edward J. Lukins	 
	 	 	 	 
	Name:	 	Edward
    J. Lukins	 
	 	 	 	 
	Address:	 	Dashwood,
    69 Old Broad Street, London EC2M 1QS	 
	 	 	 	 
	Occupation:	 	Solicitor	 
	 	 	 	 
	Executed
    as a Deed	)		 
	(but
    not delivered until the date	)		 
	appearing
    at the head of page 1)	) 		 
	by
    Tiziana Lifesciences plc	)		 
	acting
    by Gabriele Cerrone	)		 
	a
    director in the presence of:	)		 
	 	 	 	 
		 	 /s/
    Gabriele Cerrone	 	 
	 	 	Director 	 
		 	 	 
	 	 	 	 
	Signature
    of witness:	 	/s/
    Tiziano Lazzaretti	 	 
	 	 	 	 
	Name:	 	Tiziano
    Lazzaretti	 
	 	 	 	 
	Address:	 	55
    Park Lane, London W1K 1NA	 
	 	 	 	 
	Occupation:	 	Chief
    Financial Officer	 

 

    	 	21Exhibit
10.10

 

TIZIANA
LIFE SCIENCES PLC

 

[Name
of Director or Officer]

[Address]

[Date]

 

Dear
[Name of Director or Officer],

 

Tiziana
Life Sciences plc (the “Company”) and your role as a director/officer of the Company

 

As
you are aware the Articles of Association of the Company (the “Articles”) contain provisions, at Article 138, granting
an indemnity to the directors and officers of the Company from time to time. We are taking this opportunity to afford you the
direct benefit of this indemnity in the form of a deed for your benefit (this “Deed”). As you are aware the Companies
Act 2006 (the “Act”) imposes certain statutory limitations on the scope of this indemnity. For the avoidance of doubt
the Company will maintain directors and officers insurance (“D&O Cover”), which is intended to operate for your
protection in addition to this indemnity.

 

Any
defined terms used in this Deed (to the extent undefined) shall have the meanings given to them in the Articles.

 

		1.1	Without
                                         prejudice to any indemnity to which you may otherwise be entitled pursuant to Article
                                         138 of the Articles, you shall be indemnified by the Company against all liabilities,
                                         costs, charges and expenses incurred by you in the execution and discharge of your duties
                                         to the Company and any “Associated Company” of the Company (as defined by
                                         the Act for these purposes), including any liability incurred by you in defending any
                                         proceedings, civil or criminal, which relate to anything done or omitted or alleged to
                                         be done or omitted by you as an officer of the Company or an Associated Company provided
                                         that no such indemnity shall extend to any liability arising out of your fraud or dishonesty
                                         or by you obtaining any personal profit or advantage to which you were not entitled.
                                         In addition, the Act prohibits this indemnity extending to:

 

		(A)	any
                                         liability incurred by you to the Company or any Associated Company of the Company;

 

		(B)	any
                                         fine imposed in any criminal proceedings;

 

		(C)	any
                                         sum payable to a regulatory authority by way of a penalty in respect of your personal
                                         non-compliance with any requirement of a regulatory nature howsoever arising;

 

		(D)	any
                                         amount for which you have become liable in defending any criminal proceedings in which
                                         you are convicted and such conviction has become final;

 

		(E)	any
                                         amount for which you have become liable in defending any civil proceedings brought by
                                         the Company or any Associated Company of the Company in which a final judgment has been
                                         given against you; and

 

		(F)	any
                                         amount for which you have become liable in connection with any application under sections
                                         661(3) or (4) or 1157 of the Act in which the court refuses to grant you relief and such
                                         refusal has become final,

 

however
the D&O Cover in place is designed to provide cover for these specific areas which the Act prescribes that the indemnity cannot
extend, and for which it is possible to obtain coverage on commercial terms.

 

    1

     

    

 

		1.2	Without
                                         prejudice and in addition to any indemnity to which you may otherwise be entitled pursuant
                                         to Article 138 of the Articles you shall be indemnified by the Company against all liabilities,
                                         costs, charges and expenses incurred by you in connection with the Company’s activities
                                         as a trustee of an occupational pension scheme (as defined by section 750(5) of the Finance
                                         Act 2004) established under a trust provided that no such indemnity shall extend to any
                                         liability arising out of your fraud or dishonesty or the obtaining by you of any personal
                                         profit or advantage to which you were not entitled and you shall not be entitled to be
                                         indemnified for:

 

		(A)	any
                                         fine imposed in any criminal proceedings,

 

		(B)	any
                                         sum payable to a regulatory authority by way of a penalty in respect of non-compliance
                                         with any requirement of a regulatory nature howsoever arising, and

 

		(C)	any
                                         amount for which you have become liable in defending any criminal proceedings in which
                                         you are convicted and the conviction has become final.

 

		1.3	The
                                         Company will, upon a reasonable request from you accompanied by actual or estimates of
                                         costs from those appointed to defend you, provide funds (either directly or indirectly)
                                         to you to meet expenditure incurred or to be incurred by you in any proceedings (whether
                                         civil or criminal) brought by any person or in relation to any investigation or action
                                         to be taken by a regulatory authority which relate to anything done or omitted or alleged
                                         to have been done or omitted by you as a director and/or officer of the Company or any
                                         Associated Company of the Company in respect of which it is alleged you have been guilty
                                         of negligence, default, breach of duty or breach of trust, provided that you will be
                                         obliged to repay any such amount no later than:

 

		(A)	in
                                         the event that you are convicted in proceedings, the date when the conviction becomes
                                         final,

 

		(B)	in
                                         the event that judgment is given against you in proceedings, the date when the judgment
                                         becomes final (except that such amount need not be repaid to the extent that such expenditure
                                         is recoverable hereunder or under any other valid indemnity given to you by the Company),
                                         or

 

		(C)	in
                                         the event that the court refuses to grant you relief on any application under sections
                                         144(3) or (4) or 727 of the UK Companies Act 1985 or sections 661(3) or (4) or 1157 of
                                         the Act, the date when the refusal becomes final.

 

		1.4	This
                                         indemnity does not authorise any indemnity which would be prohibited or rendered void
                                         by any provision of the Act or by any other provision of law.

 

		1.5	The
                                         Company hereby waives (to the maximum extent permitted the provisions of the Act or by
                                         any other provision of law) all and any claims that it may have against you as a result
                                         of, and in connection with, your tenure as a director or officer of the Company, whether
                                         actual or contingent, direct or indirect and irrevocably waives any such claims or rights
                                         of action and releases and forever discharges you from all and any liability in respect
                                         thereof.

 

		1.6	You
                                         agree to give written notice to the Company as soon as reasonably practical after receipt
                                         of any demand relating to any claim under this indemnity (or becoming aware of circumstances
                                         which are reasonably be expected to give rise to a demand relating to a claim) giving
                                         full details and providing copies of all relevant correspondence and you agree to keep
                                         the Company fully informed of the progress of any claim, including providing all such
                                         information in relation to any claim or losses or any other costs, charges or expenses
                                         incurred as the Company may reasonably request, and shall take all such action as the
                                         Company may reasonably request to avoid, dispute, resist, appeal, compromise or defend
                                         any claim.

 

    2

     

    

 

		1.7	For
                                         the avoidance of doubt:

 

		(a)	if
                                         a company ceases to be a subsidiary of the Company after the date of this Deed, the Company
                                         shall only be liable to indemnify you in respect of liabilities in relation to that company
                                         which arose before the date on which that company ceased to be a subsidiary of the Company;
                                         and

 

		(b)	as
                                         director or officer of any company which becomes a subsidiary of the Company after the
                                         date of this Deed, you shall be indemnified only in respect of liabilities arising after
                                         the date on which that company became a subsidiary of the Company.

 

		1.8	This
                                         Deed shall remain in force until such time as any relevant limitation periods for bringing
                                         Claims against you have expired, or for so long as you remain liable for any losses,
                                         notwithstanding that you may have ceased to be a director or officer of the Company or
                                         any of its subsidiaries.

 

		1.9	Any
                                         dispute or claim arising out of or in connection with this indemnity and waiver (including
                                         non-contractual disputes or claims) shall be governed by and construed in accordance
                                         with the law of England and Wales and you and the Company irrevocably agree that the
                                         courts of England and Wales shall have exclusive jurisdiction to settle any dispute or
                                         claim that arises out of or in connection with this appointment or its subject matter
                                         or formation (including non-contractual disputes or claims).

 

IN
WITNESS WHEREOF, this Deed has been executed as a deed by the Company and you, or such parties’ duly authorized attorneys
on the day and year first above written.

 

[Signature
Page Follows]

 

    3

     

    

 

Executed
as a deed by

 

 

 

for
and on behalf of

TIZIANA
LIFE SCIENCES PLC

 

In
the presence of:

 

 

 

Signature
and name of witness

 

Executed
as a deed by [Name of Director or Officer]

 

 

 

Signature

 

In
the presence of:

 

 

 

Signature
and name of witness

 

[Signature
Page to Tiziana Life Sciences plc – Deed of Indemnity]

 

    4

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