Document:

EX-10.5

 Exhibit 10.5 

APELLIS PHARMACEUTICALS, INC. 

Incentive Stock Option Agreement 

Granted Under 2017 Stock Incentive Plan 
  

	1.	Grant of Option. 

 (a) This agreement evidences the grant by Apellis
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), on             , 20[    ] (the “Grant Date”) to
[                ], an employee of the Company (the “Participant”) of an option to purchase, in whole or in part, on the terms provided herein
and in the Company’s 2017 Stock Incentive Plan (the “Plan”), a total of [                ] shares (the “Shares”) of common
stock, $0.0001 par value per share, of the Company (“Common Stock”), at an exercise price of $[            ] per Share. Unless earlier terminated, this option shall
expire at 5:00 p.m., Eastern time, on [            ] (the “Final Exercise Date”). 

(b) It is intended that the option evidenced by this agreement shall be an incentive stock option as defined in Section 422 of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to
include any person who acquires the right to exercise this option validly under its terms. 
  

	2.	Vesting Schedule. 

 (a) This option shall become exercisable
(“vest”) [                    ]. 

(b) The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent
permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 

 

	3.	Exercise of Option. 

 (a) Form of Exercise. Each election to exercise this
option shall be in writing, in the form of the Stock Option Exercise Notice attached as Annex A or in such other form (which may be electronic) as is approved by the Company, in each case signed by the Participant and received by the Company
at its principal office, accompanied by this agreement and payment in full in the manner provided in the Plan. The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for
any fractional share. 
 (b) Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3,
this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee or officer of, or consultant or advisor to, the Company or any other entity the
employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 

 (c) Termination of Relationship with the Company. If the Participant ceases to be an
Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided
that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the
non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such
violation. 
 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of
Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “Cause” as specified in paragraph (e) below, this option shall be
exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the
extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 

(e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment is terminated by the Company for
Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment. If the Participant is party to an employment or severance agreement with the Company that contains a
definition of “cause” for termination of employment, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure by the
Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between
the Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant’s employment shall be considered to have been terminated for Cause if the Company determines, within 30 days after the
Participant’s resignation, that termination for Cause was warranted. 
  

	4.	Tax Matters. 

 (a) Withholding. No Shares will be issued pursuant to the
exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. 

(b) Disqualifying Disposition. If the Participant disposes of Shares acquired upon exercise of this option within two years from the
Grant Date or one year after such Shares were acquired pursuant to exercise of this option, the Participant shall notify the Company in writing of such disposition. 

  
 - 2 - 

	5.	Transfer Restrictions. 

 This option may not be sold, assigned, transferred,
pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the
Participant. 
  

	6.	Provisions of the Plan. 

 This option is subject to the provisions of the Plan
(including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option. 

[Signature pages follow.] 

  
 - 3 - 

 IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by
its duly authorized officer. This option shall take effect as a sealed instrument. 
  

			
	APELLIS PHARMACEUTICALS, INC.
		
	By:	 	 
		 	 Name:
 Title:

  
 - 4 - 

 PARTICIPANT’S ACCEPTANCE 

The undersigned hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges
receipt of a copy of the Plan. 
  
  
	
	PARTICIPANT:
	
	   

	Signature of Participant
	
	   

	Print Name of Participant
	
	   

	Street Address
	
	   

	City/State/Zip Code

  
 - 5 - 

 ANNEX A 

APELLIS PHARMACEUTICALS, INC. 

Stock Option Exercise Notice 
 Apellis
Pharmaceuticals, Inc. 
 6400 Westwind Way 
 Suite A 

Crestwood, KY 40014 
 Dear Sir or Madam: 

I,
                                         
    (the “Participant”), hereby irrevocably exercise the right to purchase                  shares of the Common Stock, $0.0001
par value per share (the “Shares”), of Apellis Pharmaceuticals, Inc. (the “Company”) at $             per share pursuant to the Company’s 2017
Stock Incentive Plan and a stock option agreement with the Company dated                      (the “Option Agreement”).
Enclosed herewith is a payment of $                    , the aggregate purchase price for the Shares. The certificate for the Shares should be
registered in my name as it appears below or, if so indicated below, jointly in my name and the name of the person designated below, with right of survivorship. 

Dated:
                                         
                                

	
	
	   

	Signature of Participant

	
	
	   

	Print Name of Participant

 Address: 

	
	
	   

	
	
	   

	
	
	   

 Name and address of persons in whose name the Shares are to be jointly registered (if applicable): 

	
	
	   

  
 - 6 -EX-10.6

 Exhibit 10.6 

APELLIS PHARMACEUTICALS, INC. 

Nonstatutory Stock Option Agreement 

Granted Under 2017 Stock Incentive Plan 
  

	1.	Grant of Option. 

 (a) This agreement evidences the grant by Apellis
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), on             , 20[    ] (the “Grant Date”) to
[                ], an [employee], [consultant], [director] of the Company (the “Participant”) of an option to purchase, in whole or in part, on
the terms provided herein and in the Company’s 2017 Stock Incentive Plan (the “Plan”), a total of [                ] shares (the
“Shares”) of common stock, $0.0001 par value per share, of the Company (“Common Stock”), at an exercise price of $[            ] per Share. Unless
earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on [            ] (the “Final Exercise Date”). 

(b) It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to
include any person who acquires the right to exercise this option validly under its terms. 
  

	2.	Vesting Schedule. 

 (a) This option shall become exercisable
(“vest”) [                    ]. 

(b) The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent
permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 

 

	3.	Exercise of Option. 

 (a) Form of Exercise. Each election to exercise this
option shall be in writing, in the form of the Stock Option Exercise Notice attached as Annex A or in such other form (which may be electronic) as is approved by the Company, in each case signed by the Participant and received by the Company
at its principal office, accompanied by this agreement and payment in full in the manner provided in the Plan. The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for
any fractional share. 
 (b) Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3,
this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee, director or officer of, or consultant or advisor to, the Company or any other
entity the employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 

 (c) Termination of Relationship with the Company. If the Participant ceases to be an
Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided
that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the
non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such
violation. 
 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of
Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “Cause” as specified in paragraph (e) below, this option shall be
exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the
extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 

(e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the
Company is terminated by the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment or other relationship. If the Participant is party to an
employment, consulting or severance agreement with the Company that contains a definition of “cause” for termination of employment or other relationship, “Cause” shall have the meaning ascribed to such term in such agreement.
Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of
any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant’s employment or
other relationship shall be considered to have been terminated for “Cause” if the Company determines, within 30 days after the Participant’s resignation, that termination for Cause was warranted. 

 

	4.	Withholding. 

 No Shares will be issued pursuant to the exercise of this option
unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. 

 

	5.	Transfer Restrictions. 

 This option may not be sold, assigned, transferred,
pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the
Participant. 

  
 - 2 - 

	6.	Provisions of the Plan. 

 This option is subject to the provisions of the Plan
(including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option. 

[Signature pages follow.] 

  
 - 3 - 

 IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by
its duly authorized officer. This option shall take effect as a sealed instrument. 
  

			
	APELLIS PHARMACEUTICALS, INC.
		
	By:	 	 
		 	 Name:
 Title:

  
  - 4 - 

 PARTICIPANT’S ACCEPTANCE 

The undersigned hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges
receipt of a copy of the Plan. 
  
  
	
	PARTICIPANT:
	
	   

	Signature of Participant
	
	   

	Print Name of Participant
	
	   

	Street Address
	
	   

	City/State/Zip Code

  
 - 5 - 

 ANNEX A 

APELLIS PHARMACEUTICALS, INC. 

Stock Option Exercise Notice 
 Apellis
Pharmaceuticals, Inc. 
 6400 Westwind Way 
 Suite A 

Crestwood, KY 40014 
 Dear Sir or Madam: 

I,
                                         
    (the “Participant”), hereby irrevocably exercise the right to purchase                  shares of the Common Stock, $0.0001
par value per share (the “Shares”), of Apellis Pharmaceuticals, Inc. (the “Company”) at $             per share pursuant to the Company’s 2017
Stock Incentive Plan and a stock option agreement with the Company dated                      (the “Option Agreement”).
Enclosed herewith is a payment of $                    , the aggregate purchase price for the Shares. The certificate for the Shares should be
registered in my name as it appears below or, if so indicated below, jointly in my name and the name of the person designated below, with right of survivorship. 

Dated:
                                         
                                    

	
	
	   

	Signature of Participant

	
	
	   

	Print Name of Participant

 Address: 

	
	
	   

	
	
	   

	
	
	   

 Name and address of persons in whose name the Shares are to be jointly registered (if applicable): 

	
	
	   

  
 - 6 -

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