Document:

Exhibit

Exhibit 10.2
MYOVANT SCIENCES LTD.
RESTRICTED STOCK UNIT GRANT NOTICE 
(2016 EQUITY INCENTIVE PLAN)
Myovant Sciences Ltd. (the “Company”), pursuant to its 2016 Equity Incentive Plan (the “Plan”), hereby awards to Participant a Restricted Stock Unit Award for the number of shares of the Company’s Common Stock (“Restricted Stock Units”) set forth below (the “Award”). The Award is subject to all of the terms and conditions as set forth in this notice of grant (this “Restricted Stock Unit Grant Notice”), and in the Plan and the Restricted Stock Unit Award Agreement (the “Award Agreement”), both of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein shall have the meanings set forth in the Plan or the Award Agreement. In the event of any conflict between the terms in this Restricted Stock Unit Grant Notice or the Award Agreement and the Plan, the terms of the Plan shall control.
	
			
	Participant:
	 
	 

	Date of Grant:
	 
	 

	Vesting Commencement Date:
	 
	 

	Number of Restricted Stock Units:
	 
	 

		
	Vesting Schedule: 
	[__________________, subject to Participant’s Continuous Service through each such vesting date.]

		
	Issuance Schedule:
	Subject to any Capitalization Adjustment, one share of Common Stock (or its cash equivalent, at the discretion of the Company) will be issued for each Restricted Stock Unit that vests at the time set forth in Section 6 of the Award Agreement.

Mandatory Sale to Cover Withholding Taxes: As a condition for acceptance of this Award, to the fullest extent permitted under the Plan and applicable law, Withholding Taxes will be satisfied through the sale of a number of the shares subject to the Award as determined in accordance with Section 11 of the Award Agreement and the remittance of the cash proceeds to the Company. Under the Award Agreement, the Company is authorized and directed by Participant to make payment from the cash proceeds of this sale directly to the appropriate taxing authorities in an amount equal to the taxes required to be withheld. The mandatory sale of shares to cover Withholding Taxes is imposed by the Company on Participant in connection with the receipt of this Award, and it is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and be interpreted to meet the requirements of Rule 10b5-1(c). 
Additional Terms/Acknowledgements: Participant acknowledges receipt of, and understands and agrees to, this Restricted Stock Unit Grant Notice, the Award Agreement and the Plan. Participant further acknowledges that as of the Date of Grant, this Restricted Stock Unit Grant Notice, the Award Agreement and the Plan set forth the entire understanding between Participant and the Company regarding the acquisition of the Common Stock pursuant to the Award specified above and supersede all prior oral and written agreements on the terms of this Award, with the exception, if applicable, of (i) restricted stock unit awards or options previously granted and delivered to Participant, (ii) the written employment agreement, offer letter or other written agreement entered into between the Company and Participant specifying the terms that should govern this specific Award, and (iii) any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law. 
By accepting this Award, Participant acknowledges having received and read the Restricted Stock Unit Grant Notice, the Award Agreement and the Plan and agrees to all of the terms and conditions set forth in these documents. Participant consents to receive Plan documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.

	
				
	 
	MYOVANT SCIENCES LTD.

	 
	Participant

	By:
	/s/ Lynn Seely
	 
	 

	 
	Title: Principal Executive Officer
	 
	Signature

	 
	Date: August 26, 2019
	 
	Date:

		
	ATTACHMENTS: 
	Award Agreement and 2016 Equity Incentive Plan

ATTACHMENT I
MYOVANT SCIENCES LTD.
2016 EQUITY INCENTIVE PLAN
RESTRICTED STOCK UNIT AWARD AGREEMENT
Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) and this Restricted Stock Unit Award Agreement (the “Agreement”), Myovant Sciences Ltd. (the “Company”) has awarded you (“Participant”) a Restricted Stock Unit Award (the “Award”) pursuant to the Company’s 2016 Equity Incentive Plan (the “Plan”) for the number of Restricted Stock Units/shares indicated in the Grant Notice. Capitalized terms not explicitly defined in this Agreement or the Grant Notice shall have the same meanings given to them in the Plan. The terms of your Award, in addition to those set forth in the Grant Notice, are as follows.
1.GRANT OF THE AWARD. This Award represents the right to be issued on a future date one (1) share of Common Stock for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to any adjustment under Section 3 below) as indicated in the Grant Notice. As of the Date of Grant, the Company will credit to a bookkeeping account maintained by the Company for your benefit (the “Account”) the number of Restricted Stock Units/shares of Common Stock subject to the Award. Notwithstanding the foregoing, the Company reserves the right to issue you the cash equivalent of Common Stock, in part or in full satisfaction of the delivery of Common Stock in connection with the vesting of the Restricted Stock Units, and, to the extent applicable, references in this Agreement and the Grant Notice to Common Stock issuable in connection with your Restricted Stock Units will include the potential issuance of its cash equivalent pursuant to such right. This Award was granted in consideration of your services to the Company. 
2.VESTING. Subject to the limitations contained herein, your Award will vest, if at all, in accordance with the vesting schedule provided in the Grant Notice. Vesting will cease upon the termination of your Continuous Service and the Restricted Stock Units credited to the Account that were not vested on the date of such termination will be forfeited at no cost to the Company and you will have no further right, title or interest in or to such Award or the shares of Common Stock to be issued in respect of such portion of the Award.
3.NUMBER OF SHARES. The number of Restricted Stock Units subject to your Award may be adjusted from time to time for Capitalization Adjustments, as provided in the Plan. Any additional Restricted Stock Units, shares, cash or other property that becomes subject to the Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units and shares covered by your Award. Notwithstanding the provisions of this Section 3, no fractional shares or rights for fractional shares of Common Stock shall be created pursuant to this Section 3. Any fraction of a share will be rounded down to the nearest whole share.
4.SECURITIES LAW COMPLIANCE. You may not be issued any Common Stock under your Award unless the shares of Common Stock underlying the Restricted Stock Units are either (i) then registered under the Securities Act, or (ii) the Company has determined that such issuance would be exempt from the registration requirements of the Securities Act. Your Award must also comply with other applicable laws and regulations governing the Award, and you shall not receive such Common Stock if the Company determines that such receipt would not be in material compliance with such laws and regulations.
5.TRANSFER RESTRICTIONS. Prior to the time that shares of Common Stock have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of this Award or the shares issuable in respect of your Award, except as expressly provided in this Section 5. For example, you may not use shares that may be issued in respect of your Restricted Stock Units as security for a loan. The restrictions on transfer set forth herein will lapse upon delivery to you of shares in respect of your vested Restricted Stock Units. 

(a)    Death. Your Award is transferable by will and by the laws of descent and distribution. At your death, vesting of your Award will cease and your executor or administrator of your estate shall be entitled to receive, on behalf of your estate, any Common Stock or other consideration that vested but was not issued before your death. 
(b)    Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your right to receive the distribution of Common Stock or other consideration hereunder, pursuant to a domestic relations order, marital settlement agreement or other divorce or separation instrument as permitted by applicable law that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this Award with the Company General Counsel prior to finalizing the domestic relations order or marital settlement agreement to verify that you may make such transfer, and if so, to help ensure the required information is contained within the domestic relations order or marital settlement agreement.
6.    DATE OF ISSUANCE.
(a)    The issuance of shares in respect of the Restricted Stock Units is intended to comply with Treasury Regulations Section 1.409A-1(b)(4) and will be construed and administered in such a manner. Subject to the satisfaction of the withholding obligations set forth in Section 11 of this Agreement, in the event one or more Restricted Stock Units vests, the Company shall issue to you one (1) share of Common Stock for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to any adjustment under Section 3 above, and subject to any different provisions in the Grant Notice). Each issuance date determined by this paragraph is referred to as an “Original Issuance Date”
(b)    If the Original Issuance Date falls on a date that is not a business day, delivery shall instead occur on the next following business day. In addition, if the Original Issuance Date does not occur (1) during an “open window period” applicable to you, as determined by the Company in accordance with the Company’s then-effective policy on trading in Company securities, or (2) on a date when you are otherwise permitted to sell shares of Common Stock on an established stock exchange or stock market (including but not limited to under a previously established Company-approved 10b5-1 trading plan or pursuant to the mandatory “same-day sale” commitment described in Section 11 hereof then the shares that would otherwise be issued to you on the Original Issuance Date will not be delivered on such Original Issuance Date and will instead be delivered on the first business day during an “open window period” applicable to you, as determined by the Company in accordance with the Company’s then-effective policy on trading in Company securities, when you are permitted to sell shares of Common Stock on an established stock exchange or stock market (including but not limited to under a previously established Company-approved 10b5-1 trading plan or pursuant to the mandatory “same-day sale” commitment described in Section 11 hereof, but in no event later than December 31 of the calendar year in which the Original Issuance Date occurs (that is, the last day of your taxable year in which the Original Issuance Date occurs), or, if and only if permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third calendar month of the applicable year following the year in which the shares of Common Stock under this Award are no longer subject to a “substantial risk of forfeiture” within the meaning of Treasury Regulations Section 1.409A-1(d). 
(c)    The form of delivery (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company. 
7.    DIVIDENDS. You shall receive no benefit or adjustment to your Award with respect to any cash dividend, stock dividend or other distribution that does not result from a Capitalization Adjustment; provided, however, that this sentence will not apply with respect to any shares of Common Stock that are delivered to you in connection with your Award after such shares have been delivered to you.
8.    RESTRICTIVE LEGENDS. The shares of Common Stock issued in respect of your Award shall be endorsed with appropriate legends as determined by the Company.

9.    EXECUTION OF DOCUMENTS. You hereby acknowledge and agree that the manner selected by the Company by which you indicate your consent to your Grant Notice is also deemed to be your execution of your Grant Notice and of this Agreement. You further agree that such manner of indicating consent may be relied upon as your signature for establishing your execution of any documents to be executed in the future in connection with your Award.
10.    AWARD NOT A SERVICE CONTRACT. 
(a)    Nothing in this Agreement (including, but not limited to, the vesting of your Award or the issuance of the shares in respect of your Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ or service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the Company of the right to terminate you at will and without regard to any future vesting opportunity that you may have. 
(b)    By accepting this Award, you acknowledge and agree that the right to continue vesting in the Award pursuant to the vesting schedule provided in the Grant Notice may not be earned unless (in addition to any other conditions described in the Grant Notice and this Agreement) you continue as an employee, director or consultant at the will of the Company and affiliate, as applicable (not through the act of being hired, being granted this Award or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”). You acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination of the right to continue vesting in the Award. You further acknowledge and agree that this Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Agreement, for any period, or at all, and shall not interfere in any way with the Company’s right to terminate your Continuous Service at any time, with or without your cause or notice, or to conduct a reorganization.
11.    WITHHOLDING OBLIGATION.
(a)    On each vesting date, and on or before the time you receive a distribution of the shares of Common Stock in respect of your Restricted Stock Units, and at any other time as reasonably requested by the Company in accordance with applicable tax laws, you hereby agree to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or any Affiliate that arise in connection with your Award (the “Withholding Taxes”). Specifically, pursuant to section 11(d), you have agreed to a “same-day sale” commitment with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”) whereby you have irrevocably agreed to sell a portion of the shares to be delivered in connection with your Restricted Stock Units to satisfy the Withholding Taxes and whereby the FINRA Dealer committed to forward the proceeds necessary to satisfy the Withholding Taxes directly to the Company and/or its Affiliates. If, for any reason, such “same-day sale” commitment pursuant to section 11(d) does not result in sufficient proceeds to satisfy the Withholding Taxes, the Company or any Affiliate may, in its sole discretion, satisfy all or any portion of the Withholding Taxes relating to your Award by any of the following means or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company or an Affiliate; (ii) causing you to tender a cash payment (which may be in the form of a check, electronic wire transfer or other method permitted by the Company); or (iii) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to you in connection with your Restricted Stock Units with a fair market value (measured as of the date shares of Common Stock are issued to you) equal to the amount of such Withholding Taxes; provided, however, that the number of such shares of Common Stock so withheld will not exceed the amount necessary to satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income. 

(b)    Unless the tax withholding obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to deliver to you any Common Stock.
(c)    In the event the Company’s obligation to withhold arises prior to the delivery to you of Common Stock or it is determined after the delivery of Common Stock to you that the amount of the Company’s withholding obligation was greater than the amount withheld by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company to withhold the proper amount.
(d)    You hereby acknowledge and agree to the following:
		
	(i)
	You hereby appoint E*Trade, or any other entity that provides the equity platform which is chosen by the Company to manage the shares under the Plan, from time to time, as your agent (the “Agent”), and authorize the Agent: 

		
	(1)
	To sell on the open market at the then prevailing market price(s), on your behalf, as soon as practicable on or after each date on which Shares vest, the number (rounded up to the next whole number) of the shares of Common Stock to be delivered to you in connection with the vesting of those Shares sufficient to generate proceeds to cover (A) the Withholding Taxes that you are required to pay pursuant to the Plan and this Award Agreement as a result of the Shares vesting (or being issued, as applicable) and (B) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto; and 

		
	(2)
	To remit any funds from the same-day sale of the number of the shares of Common Stock referenced in (1) to the Company and to remit any remaining funds to you. 

		
	(ii)
	You hereby authorize the Company and the Agent to cooperate and communicate with one another to determine the number of Shares that must be sold pursuant to this Section 11(d).

		
	(iii)
	You understand that the Agent may effect sales as provided in this Section 11(d) in one or more sales and that the average price for executions resulting from bunched orders will be assigned to your account. In addition, you acknowledge that it may not be possible to sell shares of Common Stock as provided by in this Section 11(d) due to (A) a legal or contractual restriction applicable to you or the Agent, (B) a market disruption, or (C) rules governing order execution priority on the national exchange where the Common Stock may be traded. In the event of the Agent’s inability to sell shares of Common Stock, you will continue to be responsible for the timely payment to the Company of all federal, state, local and foreign taxes that are required by applicable laws and regulations to be withheld, including but not limited to those amounts specified in this Section 11(d).

		
	(iv)
	You acknowledge that regardless of any other term or condition of this Section 11(d), the Agent will not be liable to you for (A) special, indirect, punitive, exemplary, or consequential damages, or incidental losses or damages of any kind, or (B) any failure to perform or for any delay in performance that results from a cause or circumstance that is beyond its reasonable control.

		
	(v)
	You hereby agree to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this Section 11(d). The Agent is a third-party beneficiary of this Section 11(d). 

		
	(vi)
	You hereby agree that if you have signed the Grant Notice at a time that you are in possession of material non-public information, unless you inform the Company in writing that you are not in agreement with the provisions of this Section 11(d) within five business days following the date you cease to be in possession of material non-public information, your not providing such written determination shall be a determination and agreement that you have agreed to the provisions set forth in this Section 11(d) on such date as you have ceased to be in possession of material non-public information.

		
	(vii)
	This Section 11(d) shall terminate not later than the date on which all Withholding Taxes arising in connection with the vesting of your Award have been satisfied.

12.    TAX CONSEQUENCES. The Company has no duty or obligation to minimize the tax consequences to you of this Award and shall not be liable to you for any adverse tax consequences to you arising in connection with this Award. You are hereby advised to consult with your own personal tax, financial and/or legal advisors regarding the tax consequences of this Award and by signing the Grant Notice, you have agreed that you have done so or knowingly and voluntarily declined to do so. You understand that you (and not the Company) shall be responsible for your own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 
13.    UNSECURED OBLIGATION. Your Award is unfunded, and as a holder of a vested Award, you shall be considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue shares or other property pursuant to this Agreement. You shall not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this Agreement until such shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person. 
14.    NOTICES. Any notice or request required or permitted hereunder shall be given in writing (including electronically) and will be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or to request your consent to participate in the Plan by electronic means. By accepting this Award, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.
15.    HEADINGS. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this Agreement or to affect the meaning of this Agreement.
16.    MISCELLANEOUS.
(a)    The rights and obligations of the Company under your Award shall be transferable by the Company to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, the Company’s successors and assigns. 
(b)    You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of your Award.

(c)    You acknowledge and agree that you have reviewed your Award in its entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully understand all provisions of your Award.
(d)    This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.
(e)    All obligations of the Company under the Plan and this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.
17.    GOVERNING PLAN DOCUMENT. Your Award is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. Your Award (and any compensation paid or shares issued under your Award) is subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable law. No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntarily terminate employment upon a resignation for “good reason,” or for a “constructive termination” or any similar term under any plan of or agreement with the Company.
18.    EFFECT ON OTHER EMPLOYEE BENEFIT PLANS. The value of the Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating benefits under any employee benefit plan (other than the Plan) sponsored by the Company or any Affiliate except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any or all of the employee benefit plans of the Company or any Affiliate.
19.    SEVERABILITY. If all or any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.
20.    OTHER DOCUMENTS. You hereby acknowledge receipt or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act. In addition, you acknowledge receipt of the Company’s policy permitting certain individuals to sell shares only during certain “window” periods and the Company's insider trading policy, in effect from time to time. 
21.    AMENDMENT. This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by you and by a duly authorized representative of the Company. Notwithstanding the foregoing, this Agreement may be amended solely by the Board by a writing which specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that, except as otherwise expressly provided in the Plan, no such amendment materially adversely affecting your rights hereunder may be made without your written consent. Without limiting the foregoing, the Board reserves the right to change, by written notice to you, the provisions of this Agreement in any way it may deem necessary or advisable to carry out the purpose of the Award as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision, provided that any such change shall be applicable only to rights relating to that portion of the Award which is then subject to restrictions as provided herein. 

22.    COMPLIANCE WITH SECTION 409A OF THE CODE. This Award is intended to be exempt from the application of Section 409A of the Code, including but not limited to by reason of complying with the “short-term deferral” rule set forth in Treasury Regulation Section 1.409A-1(b)(4) and any ambiguities herein shall be interpreted accordingly. Notwithstanding the foregoing, if it is determined that the Award fails to satisfy the requirements of the short-term deferral rule and is otherwise not exempt from, and determined to be deferred compensation subject to Section 409A of the Code, this Award shall comply with Section 409A to the extent necessary to avoid adverse personal tax consequences and any ambiguities herein shall be interpreted accordingly. If it is determined that the Award is deferred compensation subject to Section 409A and you are a “Specified Employee” (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code) as of the date of your “Separation from Service” (as defined in Section 409A), then the issuance of any shares that would otherwise be made upon the date of your Separation from Service or within the first six (6) months thereafter will not be made on the originally scheduled date(s) and will instead be issued in a lump sum on the date that is six (6) months and one day after the date of the Separation from Service, with the balance of the shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and only if such delay in the issuance of the shares is necessary to avoid the imposition of adverse taxation on you in respect of the shares under Section 409A of the Code. Each installment of shares that vests is intended to constitute a “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2). 
* * * * * 
This Restricted Stock Unit Award Agreement shall be deemed to be signed by the Company and Participant upon the signing by Participant of the Restricted Stock Unit Grant Notice to which it is attached.

ATTACHMENT II
2016 EQUITY INCENTIVE PLANExhibit 10.7

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This Amended and Restated
Employment Agreement (the “Agreement”) is made and entered into as of November 12, 2019 (the “Effective
Date”), by and between Jane H. Behrmann (the “Employee”) and Hoth Therapeutics, Inc., a Nevada corporation
(the “Company”).

 

WHEREAS, the Company
desires to employ the Employee on the terms and conditions set forth herein; and

 

WHEREAS, the Employee
desires to be employed by the Company on such terms and conditions.

 

NOW, THEREFORE, in
consideration of the mutual covenants, promises and obligations set forth herein, the parties agree as follows:

 

1. Term.
The Employee’s employment hereunder shall be effective as of the Effective Date, and shall continue until the
first anniversary thereof, unless terminated earlier pursuant to Section 5 of this Agreement; provided that, on such first anniversary
of the Effective Date and each annual anniversary thereafter (such date and each annual anniversary thereof, a “Renewal
Date”), the Agreement shall be deemed to be automatically extended, upon the same terms and conditions, for successive
periods of one year, unless either party provides written notice of its intention not to extend the term of the Agreement at least
thirty (30) days’ prior to the applicable Renewal Date. The period during which the Employee is employed by the Company hereunder
is hereinafter referred to as the “Employment Term”.

 

2. Position
and Duties.

 

2.1 Position.
During the Employment Term, the Employee shall serve as the Vice President of Operations of the Company, reporting to Chief Executive
Officer of the Company. In such position, the Employee shall have such duties, authority and responsibility as shall be determined
from time to time by the Chief Executive Officer, which duties, authority and responsibility are consistent with the Employee’s
position. Employee shall perform faithfully and diligently all duties and responsibilities to be performed and assigned to her.
The Board of Directors of the Company or the Chief Executive Officer reserves the right to modify Employee’s position and
duties at any time in their reasonable discretion.

 

2.2 Duties.
During the Employment Term, the Employee shall devote substantially all of her business time and attention to the performance of
the Employee’s duties hereunder and will not engage in any other business, profession or occupation for compensation or otherwise
which would conflict or interfere with the performance of such services hereunder unless otherwise authorized by the Board of Directors
of the Company. Notwithstanding any of the foregoing, it is expressly agreed and understood that Employee shall be entitled to
spend a reasonable amount of her working time on (i) charitable activities and personal investments and (ii) other business-related
ventures subject to approval by the Board of Directors of the Company, which shall not be unreasonably withheld.

 

3. Place
of Performance. The principal place of Employee’s employment shall be at the Company’s offices located in New York,
New York or such other location as mutually agreed upon between the Company and the Employee.

 

     

     

    

 

4. Compensation.

 

4.1 Base
Salary. During the Employment Term, the Employer shall pay to Employee an initial base salary at the annual rate of One Hundred
Seventy-Five Thousand ($175,000) Dollars as compensation for Employee’s performance of Employee’s
duties hereunder (the “Base Salary”). Such Base Salary shall be made payable in accordance with the normal
payroll practices of the Employer, less required deductions for state and federal withholding tax, social security and all other
employment taxes and payroll deductions.

 

4.2 Bonus.
For each twelve (12) month period of the Employment Term, the Employee shall be eligible to receive a bonus (the “Bonus”).
However, the decision to provide any Bonus and the amount and terms of any Bonus shall be in the sole and absolute discretion of
the Board of Directors of the Company. Any such Bonus shall be payable within one hundred twenty (120) days following the expiration
of each annual anniversary. Further, any such Bonus shall be payable at the Company’s sole option in stock or in cash.

 

4.3 Equity
Awards. Employee shall be eligible for such grants of awards under stock option or other equity incentive plans of the Company
adopted by the Board and approved by the Company’s stockholders (or any successor or replacement plan adopted by the Board
and approved by the Company’s stockholders) (the “Plan”) as the Compensation Committee of the Company’s
may from time to time determine.

 

4.4 Employee
Benefits. During the Employment Term, the Employee shall be entitled to participate in all employee benefit plans, practices
and programs maintained by the Company, as in effect from time to time (collectively, “Employee Benefit Plans”)
to the extent consistent with applicable law and the terms of the applicable Employee Benefit Plans. The Company reserves the right
to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject to the terms of such Employee Benefit
Plan and applicable law.

 

4.5 Vacation;
Paid Time-off. During the Employment Term, the Employee shall be entitled to three (3) weeks of paid vacation days per calendar
year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time. The
Employee shall receive other paid time-off in accordance with the Company’s policies for employee officers as such policies
may exist from time to time.

 

4.6 Business
Expenses. The Employee shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business, entertainment
and travel expenses incurred by the Employee in connection with the performance of the Employee’s duties hereunder in accordance
with the Company’s expense reimbursement policies and procedures.

 

5. Termination
of Employment. The Employment Term and the Employee’s employment hereunder may be terminated by either the Company or
the Employee at any time and for any reason; provided that, unless otherwise provided herein, either party shall be required to
give the other party at least ten (10) days advance written notice of any termination of the Employee’s employment. Upon
termination of the Employee’s employment during the Employment Term, the Employee shall be entitled to the compensation and
benefits described in this Section 5 and shall have no further rights to any compensation or any other benefits
from the Company or any of its affiliates.

 

    2

     

    

 

5.1 Payments upon Termination. Upon termination of this Agreement, the Employee
shall be entitled to receive:

 

	 	(i)	any equity award which has vested as of the Termination Date (as defined below);

 

	 	(ii)	reimbursement for unreimbursed business expenses properly incurred by the Employee, which shall be subject to and paid in accordance with the Company’s expense reimbursement policy; and

 

	 	(iii)	such employee benefits, if any, to which the Employee may be entitled under the Company’s employee benefit plans as of the Termination Date; provided that, in no event shall the Employee be entitled to any payments in the nature of severance or termination payments except as specifically provided herein ((i), (ii) and (iii) collectively, the “Accrued Amounts”).

 

5.2 Death
or Disability.

 

(a) The
Employee’s employment hereunder shall terminate automatically upon the Employee’s death during the Employment Term,
and the Company may terminate the Employee’s employment on account of the Employee’s Disability.

 

(b) If
the Employee’s employment is terminated during the Employment Term on account of the Employee’s death or Disability,
the Employee (or the Employee’s estate and/or beneficiaries, as the case may be) shall be entitled to receive the Accrued
Amounts.

 

(c) For
purposes of this Agreement, “Disability” shall mean the Employee’s inability, due to physical or mental
incapacity, to substantially perform her duties and responsibilities under this Agreement for one hundred eighty (180) days out
of any three hundred sixty-five (365) day period or one hundred twenty (120) consecutive days. Any question as to the existence
of the Employee’s Disability as to which the Employee and the Company cannot agree shall be determined in writing by a qualified
independent physician mutually acceptable to the Employee and the Company. If the Employee and the Company cannot agree as to a
qualified independent physician, each shall appoint such a physician and those two (2) physicians shall select a third (3rd)
who shall make such determination in writing. The determination of Disability made in writing to the Company and the Employee shall
be final and conclusive for all purposes of this Agreement.

 

5.3 Notice
of Termination. Any termination of the Employee’s employment hereunder by the Company or by the Employee during the Employment
Term (other than termination pursuant to Section 5.2(a) on account of the Employee’s death) shall be communicated by written
notice of termination (“Notice of Termination”) to the other party hereto in accordance with Section
20.

 

    3

     

    

 

5.4 Termination
Date. The Employee’s Termination Date shall be:

 

(a) If
the Employee’s employment hereunder terminates on account of the Employee’s death, the date of the Employee’s
death;

 

(b) If
the Employee’s employment hereunder is terminated on account of the Employee’s Disability, the date that it is determined
that the Employee has a Disability;

 

(c) If
the Company terminates the Employee’s employment hereunder with or without cause, the date specified in the Notice of Termination,
which shall be no less than ten (10) days following the date on which the Notice of Termination is delivered; and

 

(d) If
the Employee’s employment hereunder terminates because either party provides notice of non-renewal pursuant to Section
1, the Renewal Date immediately following the date on which the applicable party delivers notice of non-renewal.

 

5.5 Resignation
of All Other Positions. Upon termination of the Employee’s employment hereunder for any reason, the Employee agrees to
resign, effective on the Termination Date from all positions that the Employee holds as an officer of the Company or any of its
affiliates.

 

6. Cooperation.
The parties agree that certain matters in which the Employee will be involved during the Employment Term may necessitate the Employee’s
cooperation in the future. Accordingly, following the termination of the Employee’s employment for any reason, to the extent
reasonably requested by the Chief Executive Officer, the Employee shall cooperate with the Company in connection with matters arising
out of the Employee’s service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption
of the Employee’s other activities. The Company shall reimburse the Employee for reasonable expenses incurred in connection
with such cooperation.

 

7. Confidential
Information.

 

(a) Definition.

 

For purposes of this
Agreement, “Confidential Information” includes, but is not limited to, all information not generally known to
the public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to: business processes,
practices, methods, policies, plans, publications, documents, research, operations, services, strategies, techniques, agreements,
contracts, terms of agreements, transactions, potential transactions, negotiations, pending negotiations, know-how, trade secrets,
computer programs, computer software, applications, operating systems, web design, work-in-process, databases, manuals, records,
articles, systems, material, sources of material, vendor information, financial information, results, accounting information, accounting
records, legal information, marketing information, advertising information, pricing information, credit information, payroll information,
staffing information, personnel information, employee lists, developments, reports, internal controls, security procedures, market
studies, sales information, revenue, costs, notes, communications, ideas, inventions, original works of authorship, discoveries,
specifications, customer information, customer lists, client information, and client lists of the Company or its businesses or
any existing or prospective customer, investor or other associated third party or of any other person or entity that has entrusted
information to the Company in confidence.

 

    4

     

    

 

The Employee understands
that the above list is not exhaustive, and that Confidential Information also includes other information that is marked or otherwise
identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary
in the context and circumstances in which the information is known or used.

 

The Employee understands
and agrees that Confidential Information includes information developed by her in the course of her employment by the Company as
if the Company furnished the same Confidential Information to the Employee in the first instance. Confidential Information shall
not include information that is generally available to and known by the public at the time of disclosure to the Employee; provided
that, such disclosure is through no direct or indirect fault of the Employee or person(s) acting on the Employee’s behalf.

 

(b) Company
Creation and Use of Confidential Information.

 

The Employee understands
and acknowledges that the Company has invested, and continues to invest, substantial time, money and specialized knowledge into
developing its resources, creating a customer base, generating investors and potential investor lists, training its employees,
and improving its business offerings. The Employee understands and acknowledges that as a result of these efforts, the Company
has created, and continues to use and create Confidential Information. This Confidential Information provides the Company with
a competitive advantage over others in the marketplace.

 

(c) Disclosure
and Use Restrictions.

 

The Employee agrees
and covenants: (i) to treat all Confidential Information as strictly confidential; (ii) not to directly or indirectly disclose,
publish, communicate or make available Confidential Information, or allow it to be disclosed, published, communicated or made available,
in whole or part, to any entity or person whatsoever (including other employees of the Company ) not having a need to know and
authority to know and use the Confidential Information in connection with the business of the Company and, in any event, not to
anyone outside of the direct employ of the Company except as required in the performance of the Employee’s authorized employment
duties to the Company or with the prior consent of the Chief Executive Officer acting on behalf of the Company in each instance
(and then, such disclosure shall be made only within the limits and to the extent of such duties or consent); and (iii) not to
access or use any Confidential Information, and not to copy any documents, records, files, media or other resources containing
any Confidential Information, or remove any such documents, records, files, media or other resources from the premises or control
of the Company, except as required in the performance of the Employee’s authorized employment duties to the Company or with
the prior consent of the Chief Executive Officer acting on behalf of the Company in each instance (and then, such disclosure shall
be made only within the limits and to the extent of such duties or consent). Nothing herein shall be construed to prevent disclosure
of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent
jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required
by such law, regulation or order. The Employee shall promptly provide written notice of any such order to the Chief Executive Officer.

 

    5

     

    

 

The Employee understands
and acknowledges that her obligations under this Agreement with regard to any particular Confidential Information shall commence
immediately upon the Employee first having access to such Confidential Information (whether before or after she begins employment
by the Company) and shall continue during and after her employment by the Company until such time as such Confidential Information
has become public knowledge other than as a result of the Employee’s breach of this Agreement or breach by those acting in
concert with the Employee or on the Employee’s behalf. 

 

8. Non-disparagement.
The Employee agrees and covenants that she will not at any time make, publish or communicate to any person or entity or in any
public forum any defamatory or disparaging remarks, comments or statements concerning the Company, the Chief Executive Officer,
or any of its employees, officers, directors and existing and prospective investors and other associated third parties. This Section
8 does not, in any way, restrict or impede the Employee from exercising protected rights to the extent that such rights
cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent
jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation
or order. The Employee shall promptly provide written notice of any such order to the Chief Executive Officer.

 

9. Acknowledgement.
The Employee acknowledges and agrees that the services to be rendered by her to the Company are of a special and unique character;
that the Employee will obtain knowledge and skill relevant to the Company’s industry, methods of doing business and marketing
strategies by virtue of the Employee’s employment; and that the terms and conditions of this Agreement are reasonable and
reasonably necessary to protect the legitimate business interest of the Company.

 

The Employee further
acknowledges that the amount of her compensation reflects, in part, her obligations and the Company’s rights under Section
7 and Section 8 of this Agreement; that she has no expectation of any additional compensation, royalties or other payment of any
kind not otherwise referenced herein in connection herewith; that she will not be subject to undue hardship by reason of her full
compliance with the terms and conditions of Section 7 and Section 8 of this Agreement or the Company’s enforcement thereof.

 

10. Remedies.
In the event of a breach or threatened breach by the Employee of Section 7 and Section 8 of this Agreement, the Employee hereby
consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent
injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without
the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity
of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies,
monetary damages or other available forms of relief.

 

11. Security.

 

11.1 Security
and Access. The Employee agrees and covenants (a) to comply with all Company security policies and procedures as in force from
time to time, including without limitation, those regarding computer equipment, telephone systems, voicemail systems, facilities
access, monitoring, key cards, access codes, Company intranet, internet, social media and instant messaging systems, computer systems,
e-mail systems, computer networks, document storage systems, software, data security, encryption, firewalls, passwords and any
and all other Company facilities, IT resources and communication technologies (“Facilities Information Technology and
Access Resources”); (b) not to access or use any Facilities and Information Technology Resources except as authorized
by the Company; and (iii) not to access or use any Facilities and Information Technology Resources in any manner after the termination
of the Employee’s employment by the Company, whether termination is voluntary or involuntary. The Employee agrees to notify
the Company promptly in the event she learns of any violation of the foregoing by others, or of any other misappropriation or unauthorized
access, use, reproduction or reverse engineering of, or tampering with any Facilities and Information Technology Access Resources
or other Company property or materials by others.

 

    6

     

    

 

11.2 Exit
Obligations. Upon (a) voluntary or involuntary termination of the Employee’s employment or (b) the Company’s request
at any time during the Employee’s employment, the Employee shall (i) provide or return to the Company any and all Company
property, including keys, key cards, access cards, identification cards, security devices, employer credit cards, network access
devices, computers, cell phones, smartphones, PDAs, pagers, fax machines, equipment, speakers, webcams, manuals, reports, files,
books, compilations, work product, e-mail messages, recordings, tapes, disks, thumb drives or other removable information storage
devices, hard drives, negatives and data and all Company documents and materials belonging to the Company and stored in any fashion,
including, but not limited to, those that constitute or contain any Confidential Information, that are in the possession or control
of the Employee, whether they were provided to the Employee by the Company or any of its business associates or created by the
Employee in connection with her employment by the Company; and (ii) delete or destroy all copies of any such documents and materials
not returned to the Company that remain in the Employee’s possession or control, including those stored on any non-Company
devices, networks, storage locations and media in the Employee’s possession or control.

 

12. Publicity.
The Employee hereby irrevocably consents to any and all uses and displays, by the Company and its agents, representatives and licensees,
of the Employee’s name, voice, likeness, image, appearance and biographical information in, on or in connection with any
pictures, photographs, audio and video recordings, digital images, websites, television programs and advertising, other advertising
and publicity, sales and marketing brochures, books, magazines, other publications, CDs, DVDs, tapes and all other printed and
electronic forms and media throughout the world, at any time during or after the period of her employment by the Company, for all
legitimate commercial and business purposes of the Company (“Permitted Uses”) without further consent from or
royalty, payment or other compensation to the Employee. The Employee hereby forever waives and releases the Company and its directors,
officers, employees and agents from any and all claims, actions, damages, losses, costs, expenses and liability of any kind, arising
under any legal or equitable theory whatsoever at any time during or after the period of her employment by the Company, arising
directly or indirectly from the Company ‘s and its agents’, representatives’ and licensees’ exercise of
their rights in connection with any Permitted Uses.

 

13. Governing
Law: Jurisdiction and Venue. This Agreement, for all purposes, shall be construed in accordance with the laws of the State
of New York without regard to conflicts of law principles. Any action or proceeding by either of the parties to enforce this Agreement
shall be brought only in a state or federal court located in the state of New York, County of New York. The parties hereby irrevocably
submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such
action or proceeding in such venue.

 

    7

     

    

 

14. Entire
Agreement. Unless specifically provided herein, this Agreement contains all of the understandings and representations between
the Employee and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to such subject matter. The parties mutually agree
that the Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the
Agreement.

 

15. Modification
and Waiver. No provision of this Agreement may be amended or modified unless such amendment or modification is agreed to in
writing and signed by the Employee and by the President of the Company. No waiver by either of the parties of any breach by the
other party hereto of any condition or provision of this Agreement to be performed by the other party hereto shall be deemed a
waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of
or delay by either of the parties in exercising any right, power or privilege hereunder operate as a waiver thereof to preclude
any other or further exercise thereof or the exercise of any other such right, power or privilege.

 

16. Severability.
Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any
portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder
of this Agreement, the balance of which shall continue to be binding upon the parties with any such modification to become a part
hereof and treated as though originally set forth in this Agreement. Upon such determination that any term or other provision is
invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the
original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated
hereby be consummated as originally contemplated to the greatest extent possible.

 

17. Captions.
Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of
this Agreement is to be construed by reference to the caption or heading of any section or paragraph.

 

18. Counterparts.
This Agreement may be executed in separate counterparts, each of which shall be deemed an original, but all of which taken together
shall constitute one and the same instrument.

 

19. Successors
and Assigns. This Agreement is personal to the Employee and shall not be assigned by the Employee. Any purported assignment
by the Employee shall be null and void from the initial date of the purported assignment. The Company may assign this Agreement
to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and permitted successors
and assigns.

 

    8

     

    

 

20. Notice.
Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered personally or sent
by registered or certified mail, return receipt requested, or by overnight carrier to the parties at the addresses set forth below
(or such other addresses as specified by the parties by like notice):

 

If to the Company:

 

Hoth Therapeutics, Inc.

1 Rockefeller Plaza

Suite 1039

New York, NY 10020

Attn: Robb Knie, Chief Executive
Officer

 

If to the Employee:

 

Jane Behrmann

1955 First Avenue,
Apt 538

New York, NY 10029

 

21. Representations
of the Employee. The Employee represents and warrants to the Company that:

 

21.1 The
Employee’s acceptance of employment with the Company and the performance of her duties hereunder will not conflict with or
result in a violation of, a breach of, or a default under any contract, agreement or understanding to which she is a party or is
otherwise bound.

 

21.2 The
Employee’s acceptance of employment with the Company and the performance of her duties hereunder will not violate any non-solicitation,
non-competition or other similar covenant or agreement of a prior employer.

 

22. Withholding.
The Company shall have the right to withhold from any amount payable hereunder any Federal, state and local taxes in order for
the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation.

 

23. Survival.
Upon the expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive
such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.

 

24. Further
Assurances. Each party to this Agreement shall execute all instruments and documents and take all actions as may be reasonably
required to effectuate this Agreement

 

25. Acknowledgment
of Full Understanding. THE EMPLOYEE ACKNOWLEDGES AND AGREES THAT SHE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO
THIS AGREEMENT. THE EMPLOYEE ACKNOWLEDGES AND AGREES THAT SHE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY
OF HER CHOICE BEFORE SIGNING THIS AGREEMENT.

 

[SIGNATURE PAGE FOLLOWS]

 

    9

     

    

 

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

 

	 	HOTH THERAPEUTICS, INC.
	 	 	 
	 	By	/s/ Robb Knie
	 	Name:	Robb Knie
	 	Title:	Chief Executive Officer

 

	EMPLOYEE	 
	 	 	 
	/s/ Jane H. Behrmann	 	 
	Jane H. Behrmann	 

 

 

10

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