Document:

Advisory Agreement

 Exhibit 10.7 
 ADVISORY AGREEMENT 
 This Agreement is effective this 28th day of March, 2002 by and between Precision Therapeutics,
Inc, a Delaware corporation (hereinafter the “Company”), having its principal place of business at 2516 Jane Street, Pittsburgh, Pennsylvania 15203, and Alan Wells, MD, DMS, an individual residing at 1310 Inverness Avenue, Pittsburgh, PA
15217 (hereinafter “Advisor”). 
 Whereas, the Company desires to engage Advisor to perform certain services for the Company according to terms of
this Agreement; and 
 Whereas, Advisor agrees to perform such services for the Company according to the terms of this Agreement. 
 Now, therefore, the parties hereto, intending to be legally bound, agree as follows: 
 I. ADVISORY AGREEMENT 
  

	1.1	The Company hereby engages Advisor to perform services for the Company as shall be agreed to by both parties. Advisor shall devote such of Advisor’s professional energies,
interests, abilities and productive time as are necessary to complete the performance of work according to the timetable agreed to for the Project. 

  

	1.2	This Agreement and/or any Project shall be terminable at will at the option of Company, upon providing Advisor fifteen (15) days written notice of intent to terminate,
provided, however, that (i) the provisions of Articles II, III, IV, V, VI and VII shall survive the termination of this Agreement for any reason and (ii) the provisions of Article III will apply to the technology developed by Advisor in
its then current form at the time of termination. 

  

	1.3	Payment of any amounts due Advisor will be made upon the acceptance of the work performed as agreed to from time to time between the Advisor and the Company. The Company will pay
the Advisor an amount of $125 per hour for all services performed in addition to a separate stock option agreement between the Company and the Advisor. Payment will be made within 30 days based upon the submittal of an invoice by the Advisor. All
income taxes based on Advisor’s compensation under this Agreement will be paid by Advisor. 

 II. NON-DISCLOSURE OF INFORMATION 
  

	2.1	Advisor agrees during the term of this Agreement and thereafter to treat as confidential and not publish, disclose or allow to be disclosed to any third party or use for
Advisor’s own benefit (except in performing work for the Company) or the benefit of any third party any confidential, proprietary or trade secret information of a technical or non technical nature that Advisor develops in their capacity as an
Advisor or receives from the Company or any of its customers, including without limitation business plans, financial information, customer lists, price lists, inventions, or improvements whether now existing or hereafter developed and whether or not
designated by the Company as confidential, proprietary or trade secret (collectively “Confidential Material”). 

  

	2.2	Advisor agrees to take all necessary precautions to protect the Confidential Material from unauthorized disclosure and shall limit access to such Confidential Material to
Advisor’s employees or associates whose duties require that they have access to such information. All employees or associates of Advisor will be advised of their obligations of nondisclosure pursuant to this Agreement. Advisor shall surrender
to the Company at any time upon request, and in any event upon termination of Advisor’s engagement with the Company, all Confidential Material in Advisor’s possession or control. 

  

	2.3	Advisor will not be liable for the disclosure of any of the Confidential Material which (i) is lawfully and generally in the public domain; (ii) was known fully by Advisor
without any restrictions on confidentiality prior to the time the Advisor received such Confidential Material from the Company or its customers; or (iii) is subject to disclosure pursuant to an enforceable order of a court or governmental
agency, provided Advisor provides Company with sufficient prior notice to contest such order. In any judicial proceeding it shall be presumed that the Confidential Material constitutes protectable trade secrets of Company, and Advisor shall bear the
burden of proving otherwise by clear and convincing evidence. 

 III. OWNERSHIP OF INVENTIONS 
  

	3.1	For the purposes of Section III, the definition of “engagement” shall mean projects and activities that are performed for the Company. 

  

	3.2	Any invention, discovery, product, process, trade secret, program, data base, data file, trademark, or other development or improvement, whether copyrightable, patentable or
otherwise protectable, and whether or not reduced to writing or to practice, conceived by Advisor, alone or with others, during the term of Advisor’s engagement with the Company and whether or not during working hours, 

(a) which is within the scope of Projects which Advisor was assigned or became involved during the term of Advisor’s engagement
with the Company whether prior or subsequent to the execution of this Agreement that is related to the engineering, research, development, design, manufacture, growth, or sale of cells, cell-based assays, cell culture medium, bioreactors, 

  

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biochemical substrates, Pharmaceuticals, cell biology instrumentation, proteins, protein function, protein function assays, biology and information or
similar technologies (“Business”); or 
 (b) which is in any way the result of Advisor having used the
Company’s resources, including but not limited to Confidential Material, laboratory equipment, personnel, computers, communications, facilities, programs, information, databases, office facilities, and process designs; shall be the
Company’s sole and exclusive property (the “Property”). Advisor shall disclose promptly and does hereby assign to the Company all of Advisor’s right, title, and interest to any and all such Property and all intellectual property
rights related to the Property including but not limited to patents, copyrights, trade secret, or trademark rights to the Property. Upon the Company’s request at any time and from time to time, including any time after termination of
Advisor’s engagement, Advisor shall execute and assign to the Company applications to domestic and foreign governmental agencies for copyrights and letters patent covering such Property, and Advisor shall execute and deliver to the Company such
other instruments as the Company deems necessary to vest in the Company the sole ownership of and all exclusive worldwide rights in and to such Property, as well as the copyrights, patents, trade secret, or other proprietary rights relating thereto.
The costs of signing or filing any documents related to protection of the Property shall be paid for by the Company. 
  

	3.3	Without limiting the generality of the foregoing, during and subsequent to Advisor’s engagement with the Company, Advisor shall neither publish any work nor permit
Advisor’s name to be used in connection with any publication or promotional material, when such work, publication, or material has been prepared during and in the course of Advisor’s engagement hereunder, unless Advisor first obtains the
specific written permission of the Company. 

  

	3.4	Advisor’s obligations and covenants in this Article III shall be binding upon Advisor’s successors, assigns, heirs, executors, administrators or other legal
representatives and all of Advisor’s employees. 

 IV. COVENANT NOT TO COMPETE 
  

	4.1	Advisor shall not during the term of and for an additional period of one year immediately following the termination of Advisor’s engagement with the Company, whether such
termination is voluntary or involuntary and whether such termination is by the Company or by Advisor: 

 (a)
Directly or indirectly engage, whether as an employee, partner, owner, agent, stockholder (except as a stockholder in a publicly-held corporation in which Advisor does not own more than 5% of any class of stock), officer, director, advisor or

  

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other representation, in any business which produces, markets or sells any products or services in direct competition with the products and services provided
by the Company anywhere in the world; for purposes of this paragraph 4.1(a), any products or services in the field of the Business as previously defined in Section 3.2(a) will be considered in competition with the products and services provided
by the Company; or 
 (b) Directly or indirectly contact any Customer or supply the names of any Customers to third parties
for the purpose of soliciting such Customer’s business in areas that would be in competition with the business; for purposes of this paragraph 4.1 (b), “Customer” shall mean anyone with whom the Company had contact during the term of
this Agreement; or 
 (c) Directly or indirectly solicit another Advisor or any employee of the Company to terminate his or
her engagement with company and become employed by Advisor or any other person in the Business. 
 (d) It is the intent of
this paragraph 4.1 that the competition be direct competitors of the Company. 
  

	4.2	In the event that Advisor violates the provisions of paragraph 4.1 of this Agreement as determined by a court of competent jurisdiction (or an arbitrator if arbitration is agreed to
by the parties for a dispute), the periods described therein shall be extended by that number of days which equals the aggregate of each day during which at any time any such violations occurred. 

  

	4.3	Advisor acknowledges that the broad geographic scope of this covenant not to compete is required because the Company’s Business is national and international in scope and that
because of the limitation in scope to the Business, it will not be necessary for Advisor to violate the provisions of this Article IV to remain economically viable. 

  

	4.4	The parties agree that, if any court determines that any portion of the business, time and geographical restrictions contained in the foregoing restrictive covenants are
unreasonable, arbitrary or against public policy, then a lesser business, time, and/or geographical restrictions which are determined to be reasonable, nonarbitrary and not against public policy, may be enforced against Advisor.

 V. UNIQUE NATURE OF AGREEMENT 
  

	5.1	 The Company and Advisor agree that the rights conveyed by this Agreement are of a unique and special nature. The Company and Advisor agree that any violation of
Articles II, III, or IV will result in immediate and irreparable harm to the Company and that the Company shall be entitled to any injunction or a decree of specific performance from a court of equity in addition to 

  

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other rights or remedies which the Company may have at law or in equity. Should any court find any part of Articles II, III or IV to be overly broad, Advisor
and the Company intend that said court shall enforce this Agreement in such less broad manner as said court finds appropriate. The Company shall have the right to seek less than full enforcement of Articles II, III or IV.

 VI. REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION 
  

	6.1	Advisor represents and warrants that all work Advisor does for the Company will be original work which does not infringe the rights of others and that by entering into this
Agreement and performing services hereunder, Advisor is not in breach of any agreement with or obligation to a third party. 

  

	6.2	Advisor agrees to use reasonable efforts to indemnify, defend and hold the Company, its officer, agents and employees harmless from and against any and all loss, cost, damage or
liability, including counsel fees and costs, as a result of any claim of cause of action for patent and/or copyright infringement, unlawful disclosure or use or misappropriation of a trade secret or other intellectual property right asserted against
the Company or one of the indemnified parties by virtue of any work performed by the Advisor hereunder. Company may participate in the defense of the claims of its own choosing, at its cost and expense. 

  

	6.3	Company agrees to use reasonable efforts to indemnify, defend, and hold the Advisor harmless from and against any and all loss, cost, damage or liability, including counsel fees and
costs, as a result of any claim of cause of action for patent and/or copyright infringement, unlawful disclosure or use or misappropriation of a trade secret or other intellectual property right asserted against the Advisor or one of the indemnified
parties by virtue of any work performed by the Company hereunder. Advisor may participate in the defense of the claims of Advisor’s own choosing, at Company’s cost and expense. 

 VII. MISCELLANEOUS 
  

	7.1	This Agreement constitutes the entire agreement and supersedes all prior agreements between the parties pertaining to the subject matter hereof and cannot be modified, changed,
waived or terminated except by a writing signed by Advisor and the Company. No course of conduct or trade custom or usage shall in any way be used to explain, modify, amend or otherwise construe this Agreement. This Agreement shall not give Advisor
any right to be engaged for any specific term, or to limit the Company’s right to terminate Advisor’s engagement at any time, with or without cause, in accordance with the provisions of Section 1.2 hereof. 

  

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	7.2	If the Company and the Advisor agree to additional projects, then these projects can be appended to this Agreement by adding additional Exhibits signed by both the Company and the
Advisor. 

  

	7.3	All rights, remedies, liabilities, covenants and agreements herein given to or imposed upon either of the parties hereto applies to the successors and assigns of the Company and
Advisor as well as Company’s and Advisor’s subsidiary or affiliated corporations and any successor to the business of the Company or Advisor and at any place in any Article of this Agreement where the Company or Advisor is referred to it
shall be understood as including any subsidiary or affiliated corporation of the Company or Advisor and any successor to the business of the Company or Advisor. This Agreement may not be assigned by Advisor. 

  

	7.4	The covenants, provisions, and Sections of this Agreement will be severable, and in the event that any portion of this Agreement is held to be unlawful or unenforceable, the same
will not affect any other portion of this Agreement, and the remaining terms and conditions or portions thereof will remain in full force and effect. This Agreement will be construed in such case as if such unlawful or unenforceable portion had
never been contained in this Agreement, in order to effectuate the intentions of the Company and Employee in executing this Agreement. 

  

	7.5	In furtherance and not in limitation of the foregoing, should any duration or geographical restriction or restriction on business activities covered under this Agreement be found by
any court of competent jurisdiction to be overly broad, Employee and the Company intend that such court will enforce this Agreement in any less broad manner the court may find appropriate by construing such overly broad provisions to cover only that
duration, extent or activity which may be enforceable. 

  

	7.6	The failure of the Company to object to any conduct or violation of any of the covenants made by Advisor under this Agreement will not be deemed a waiver by the Company of any
rights or remedies the Company may have under this Agreement. 

  

	7.7	The Company may assign its rights under this Agreement to any affiliate or parent of the Company or to any corporation acquiring all or substantially all of the assets of the
Company or to any other corporation into which the Company may be liquidated, merged or consolidated, or to secure any indebtedness of the Company. 

  

	7.8	This Agreement will be governed and construed in accordance with the laws of the Commonwealth of Pennsylvania without regard to its conflicts of laws provisions.

  

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	7.9	Advisor is acting as an independent contractor with respect to all matters arising out of its performance under this Agreement, and will not be considered an employee, agent,
partner or joint venture with or for the Company. Advisor shall be responsible for all employment taxes and withholding, and all insurance and other benefits, including without limitation, workers and unemployment compensation.

  

	7.10	Upon written request, Advisor will promptly return all written Confidential Information provided in connection with this Agreement upon its termination. 

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

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	 Agree to and Accepted by
 Precision
Therapeutics, Inc.
	 		 	Agreed to and Accepted by
	This 3 day of April, 2002	 		 	This 28 day of March, 2002
					
	By:	 	/s/ Sean McDonald	 		 	By:	 	/s/ Alan Wells
		 		 		 		 	Authorized Signature
		 		 		 		 	Advisor
	Printed	 		 		 	Printed	 	
	Name:	 	Sean McDonald	 		 	Name:	 	Alan Wells, MD, DMS
				
	Title:	 	President & CEO	 		 	

  

 82000 Stock Plan, as amended

 Exhibit 10.8 
 PRECISION THERAPEUTICS, INC. 
 2000 STOCK PLAN 
 1. Purpose. The purpose of the Precision Therapeutics, Inc. 2000 Stock Plan (the “Plan”) is to secure for Precision Therapeutics, Inc. a
Delaware corporation (the “Company”), and its shareholders the benefits arising from capital stock ownership by employees, officers and directors of, and consultants or advisors to, the Company and its parent and subsidiary corporations
who are expected to contribute to the Company’s future growth and success. Under the Plan recipients may be awarded both (x) Options (as defined in Section 2.1) to purchase the Company’s common stock, par value $.001 per share
(“Common Stock”) and (y) shares of the Company’s Common Stock (“Grant Stock”). Except where the context otherwise requires, the term “Company” shall include all present and future subsidiaries of the Company
as defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended or replaced from time to time (the “Code”). Those provisions of the Plan which make express reference to Section 422 shall apply only to
Incentive Stock Options (as that term is defined in the Plan). 
 2. Types of Awards and Administration. 
 2.1 Options. Options granted pursuant to the Plan (“Options”) shall be authorized by action of the Board of Directors of the Company and
may be either incentive stock options (“Incentive Stock Options”) meeting the requirements of Section 422 of the Code or non-qualified Options which are not intended to meet the requirements of Section 422 of the Code. All
Options when granted are intended to be non-qualified Options, unless the applicable Option Agreement (as defined in Section 5.1) explicitly states that the Option is intended to be an Incentive Stock Option. If an Option is intended to be an
Incentive Stock Option, and if for any reason such Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a non-qualified
Option appropriately granted under the Plan provided that such Option (or portion thereof) otherwise meets the Plan’s requirements relating to non-qualified Options. The vesting of Options may be conditioned upon the completion of a specified
period of employment with the Company and/or such other conditions or events as the Board may determine as set forth in the applicable Option Agreement. 
 2.2 Grant Stock; Restricted Period. Shares of Grant Stock issued pursuant to the Plan shall be authorized by the Board of Directors and may be free from restrictions or may be subject to such conditions and
restrictions as the Board may determine as set forth in the applicable Grant Stock Agreement. The vesting of Grant Stock may be conditioned upon the completion of a specified period of employment with the Company and/or such other conditions or
events as the Board may determine, and any unvested Grant Stock may be made subject to forfeiture upon termination of employment or the occurrence of other events. The period of time during which any Grant Stock remains subject to restrictions
(e.g., has not vested) is referred to herein as the “Restricted Period.” During the applicable Restricted Period, a grantee may not sell, assign, transfer, donate, pledge or otherwise dispose of the shares of Grant Stock. Each certificate
for a share of Grant Stock shall contain a legend giving appropriate notice of the applicable restrictions. The grantee 

 
share of Grant Stock shall contain a legend giving appropriate notice of the applicable restrictions. The grantee shall be entitled to have the legend
removed from the stock certificate covering the shares of Grant Stock subject to restrictions when all such restrictions on such shares lapse. The Board may determine that the Company will not issue certificates for shares of Grant Stock until all
restrictions on such shares lapse, or that the Company will retain possession of certificates for shares of Grant Stock until all restrictions on such shares lapse. 
 2.3 Administration. Subject to the following paragraph, the Plan shall be administered by the Board of Directors of the Company whose construction and interpretation of the terms and provisions of the Plan
shall be final and conclusive. The Board of Directors may in its sole discretion issue Grant Stock and grant Options to purchase shares of Common Stock, and issue shares upon exercise of such Options as provided in the Plan. The Board shall have
authority, subject to the express provisions of the Plan, to construe the respective Grant Stock Agreements (as defined in Section 5.2), Option Agreements and the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan,
to determine the terms and provisions of the respective Grant Stock Agreements and Option Agreements, and to make all other determinations in the judgment of the Board of Directors necessary or desirable for the administration of the Plan. The Board
of Directors may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Grant Stock Agreement or Option Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect and it
shall be the sole and final judge of such expediency. No director or person acting pursuant to authority delegated by the Board of Directors shall be liable for any action or determination under the Plan made in good faith. The Board of Directors
may, to the full extent permitted by or consistent with applicable laws or regulations (including, without limitation, applicable state law), delegate any or all of its powers under the Plan to a committee (the “Committee”) appointed by
the Board of Directors, and if the Committee is so appointed all references to the Board of Directors in the Plan shall mean and relate to such Committee. 
 At any time following the registration by the Company of its Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), should the Board delegate to the Committee the authority to
administer the Plan, then such Committee shall consist solely of members of the Board who qualify as (i) “Non-Employee Directors” as defined under Rule 16b-3 under the Exchange Act and (ii) “outside directors” as
defined under Section 162(m) or any successor provision of the Internal Revenue Code of 1986, as amended (the “Code”) and applicable Treasury regulations thereunder, if and to the extent such qualification is necessary so that the
grant or the exercise of awards made under the Plan will qualify for any tax or other material benefit to participants or the Company under applicable law. 
 3. Eligibility. Options may be granted, and Grant Stock may be issued, to persons who are, at the time of such grant or issuance, employees, officers or directors of, or consultants or advisors to, the Company;
provided, that the class of persons to whom Incentive Stock Options may be granted shall be limited to employees of the Company. 

 4. Stock Subject to Plan. Subject to adjustment as provided in Section 14 below, the maximum
number of shares of Common Stock of the Company which may be issued under the Plan shall not exceed an aggregate of 9,701,953. If an Option shall expire or terminate for any reason without having been exercised in full, the unpurchased shares
subject to such Option shall again be available for subsequent Option or Grant Stock awards under the Plan. If shares of Grant Stock shall be forfeited to, or otherwise repurchased by, the Company pursuant to a Grant Stock Agreement, such purchased
shares subject to such Grant Stock Agreement shall again be available for subsequent Option or Grant Stock awards under the Plan. If shares issued upon exercise of an Option are tendered to the Company in payment of the exercise price of an Option,
such tendered shares shall again be available for subsequent Option or Grant Stock awards under the Plan. 
 5. Forms of Grant Stock
Agreements and Option Agreements. 
 5.1 Option Agreement. As a condition to the grant of an Option, each recipient of an Option
shall execute an option agreement (“Option Agreement”) in such form not inconsistent with the Plan as may be approved by the Board of Directors. Such Option Agreements may differ among recipients. 
 5.2 Grant Stock Agreement. As a condition to the issuance of Grant Stock, each recipient thereof shall execute an agreement (“Grant Stock
Agreement”) in such form not inconsistent with the Plan as may be approved by the Board of Directors. Such Grant Stock Agreements may differ among recipients and need not be entitled “Grant Stock Agreements.” 
 5.3 “Stand-Off” Agreement. Unless the Board of Directors specifies otherwise, each Grant Stock Agreement and Option Agreement shall
provide that upon the request of the Company or the managing underwriter(s), the holder of any Option or the purchaser of any Grant Stock shall, in connection with an initial public offering of the Company’s common stock, agree in writing that
for a period of time (not to exceed 180 days) from the effective date of the Securities and Exchange Commission registration statement for such offering, the holder or purchaser will not sell, make any short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any shares of the Company’s common stock owned or controlled by him. 
 6. Purchase Price.

 6.1 General. The purchase price per share of Grant Stock and per share of stock deliverable upon the exercise of an Option shall be
determined by the Board of Directors, provided, however, that in the case of an Incentive Stock Option, the exercise price shall not be less than 100% of the Fair Market Value of such stock (as defined below), at the time of grant of such
Option, or less than 110% of such Fair Market Value in the case of Options described in Section 11.2. For all purposes under the Plan, the term “Fair Market Value” shall mean, as of any applicable date, (i) if the principal
securities market on which the Common Stock is traded is a national securities exchange or The Nasdaq National Market (“NNM”), the closing price of the Common Stock on such exchange or NNM, as the case may be, or if no sale of the Common
Stock shall have occurred on such date, on the next preceding date on which there was a reported sale; or (ii) if the Common Stock is not traded on a national securities exchange or NNM, the closing price on such date as reported by The Nasdaq
SmallCap Market, or if no sale of the Common Stock shall have occurred on such date, on the next preceding date on which there was a reported sale; or (iii) if the principal securities market on which the Common Stock is traded is not a 

  

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national securities exchange, NNM or The Nasdaq SmallCap Market, the average of the bid and asked prices reported by the National Quotation Bureau, Inc., on
such date; or (iv) if the price of the Common Stock is not so reported, the fair market value of the Common Stock as determined in good faith by the Board of Directors. 
 6.2 Payment of Purchase Price. Option Agreements may provide for the payment of the exercise price by delivery of cash or a check to the order of
the Company in an amount equal to the exercise price of such Options, or, to the extent provided in the applicable Option Agreement, (i) by delivery to the Company of shares of Common Stock of the Company already owned (and not subject to risk
of forfeiture) by the optionee for a period of six months having a Fair Market Value equal in amount to the exercise price of the Options being exercised, (ii) by any other means (including, without limitation, by delivery of a promissory note
of the optionee payable on such terms as are specified by the Board of Directors) which the Board of Directors determines are consistent with the purpose of the Plan and with applicable laws and regulations or (iii) by any combination of such
methods of payment. The Fair Market Value of any shares of the Company’s Common Stock or other non-cash consideration which may be delivered upon exercise of an Option shall be determined by the Board of Directors. Grant Stock Agreements may
provide for the payment of any purchase price in any manner approved by the Board of Directors at the time of authorizing the issuance thereof. 
 7. Option Period. Each Option and all rights thereunder shall expire on such date as shall be set forth in the applicable Option Agreement, provided that, in any event, in the case of an Incentive Stock Option, such date shall
not be later than 10 years after the date on which the Option is granted (or five years in the case of Options described in Section 11.2), and, in the case of non-qualified Options, not later than 10 years after the date on which the Option is
granted, and, in either case, shall be subject to earlier termination as provided in the Plan. 
 8. Exercise of Options. Each Option
shall be exercisable either in full or in installments at such time or times and during such period as shall be set forth in the applicable Option Agreement, subject to the provisions of the Plan. 
 9. Nontransferability of Options; Right of First Refusal. No Option shall be assignable or transferable by the person to whom it is granted,
either voluntarily or by operation of law, except by will or the laws of descent and distribution. During the life of an optionee, an Option held by him or her shall be exercisable only by the optionee. Notwithstanding the foregoing, non-qualified
Options and shares of Grant Stock may be transferred for valid estate planning purposes, if the applicable Option Agreement or Grant Stock Agreement so provides. 
 Unless the Option Agreement, Grant Stock Agreement or instrument expressly provides otherwise, at any time prior to the registration by the Company of its Common Stock under Section 12 of the Exchange Act, the
Company shall have a right of first refusal with respect to any proposed sale or other disposition by optionees or grantees (and their permitted successors in interest by purchase, gift or other mode of transfer) of any shares of Grant Stock or of
Common Stock issued upon the exercise of Options granted under the Plan. Such right shall be exercisable by the Company in accordance with terms and conditions established in good faith by the Board of Directors. Each certificate for a share of
Grant Stock or of Common Stock issued upon the exercise of Options granted under the Plan shall contain a legend giving appropriate notice of the foregoing right of first refusal. 
  

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 10. Effect of Termination. No Incentive Stock Option may be exercised unless, at the time of such
exercise, the optionee is, and has continuously since the date of grant of his or her Incentive Stock Option been, employed by the Company, except that, unless the Option Agreement or instrument expressly provides otherwise: 
 10.1 the Incentive Stock Option may be exercised within the period of thirty days after the date the optionee ceases to be an employee of the Company (or
within such lesser period as may be specified in the applicable Option Agreement); 
 10.2 if the optionee dies while in the employ of the
Company, the Incentive Stock Option may be exercised in full by the person to whom it is transferred by will or the laws of descent and distribution within the period of 180 days after the date of death (or within such lesser period as may be
specified in the applicable Option Agreement); and 
 10.3 if the optionee becomes disabled (within the meaning of Section 22(e)(3) of
the Code or any successor provision thereto) while in the employ of the Company, the Incentive Stock Option may be exercised in full within the period of 180 days after the date the optionee ceases to be such an employee because of such disability
(or within such lesser period as may be specified in the applicable Option Agreement); 
 provided, however, that, unless the Option Agreement or
instrument expressly provides otherwise, in the event that an employee ceases to be employed (or a director, consultant or advisor (collectively, “other optionees”) ceases to be retained) by the Company due to a termination for
“cause” (as defined below), all rights to exercise Options held by such employee (or other optionee) shall terminate immediately as of the date and time such employee ceases to be employed (or other optionee ceases to be retained) by the
Company. As used in this Plan, the term “cause” shall mean a finding by the Board of Directors that the employee (or other optionee) has engaged in conduct that is fraudulent, criminal, disloyal or injurious to the Company, including,
without limitation: (i) any material violation of the written (or otherwise established) policies of the Company, (ii) habitual neglect in the performance of his or her duties to the Company, (iii) embezzlement, theft, or the
commission of a felony or dishonesty in the course of his or her employment or service, (iv) the disclosure of trade secrets or confidential information of the Company or any subsidiary of the Company to persons not entitled to receive such
information, or (v) willful or intentional action or inaction in connection with his or her duties to the Company that has resulted in or, in the judgment of the Board of Directors, may result in injury of a material nature to the Company; and

 provided further, that in no event may any Incentive Stock Option be exercised after the expiration date of the Incentive Stock Option. For all
purposes of the Plan and any Incentive Stock Option granted hereunder, “employment” shall be defined in accordance with the provisions of Section 1.421-7(h) of the Income Tax Regulations (or any successor regulations). 
  

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 A non-qualified Option granted to an employee shall be subject to the foregoing provisions of this
Section 10 as if it were an Incentive Stock Option, but a non-qualified Option may also be exercised so long as the optionee maintains a relationship with the Company as a director, consultant or adviser, unless the Option Agreement provides
otherwise. 
 11. Incentive Stock Options. Options which are intended to be Incentive Stock Options shall be subject to the following
additional terms and conditions: 
 11.1 Express Designation. All Incentive Stock Options shall, at the time of grant, be specifically
designated as such in the Option Agreement covering such Incentive Stock Options. 
 11.2 10% Shareholder. If any employee to whom an
Incentive Stock Option is to be granted is, at the time of the grant of such Option, the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company (after taking into account the attribution of
stock ownership rules of Section 424(d) of the Code), then the following special provisions shall be applicable to the Incentive Stock Option granted to such individual: 
 11.2.1 the purchase price per share of the Common Stock subject to such Incentive Stock Option shall not be less than 110% of the Fair
Market Value of one share of Common Stock at the time of grant; and 
 11.2.2 the option exercise period shall not exceed five
years from the date of grant. 
 11.3 Dollar Limitation. For so long as the Code shall so provide, Options granted to any employee
under the Plan (and any other incentive stock option plans of the Company) which are intended to constitute Incentive Stock Options shall not constitute Incentive Stock Options to the extent that such Options, in the aggregate, become exercisable
for the first time in any one calendar year for shares of Common Stock with an aggregate Fair Market Value (determined as of the respective date or dates of grant) of more than $100,000. 
 12. Additional Provisions. 
 12.1
Additional Provisions. The Board of Directors may, in its sole discretion, include additional provisions in Grant Stock Agreements and Option Agreements, including, without limitation, restrictions on transfer, rights of the Company to
repurchase shares of Grant Stock or shares of Common Stock acquired upon exercise of Options, commitments to pay cash bonuses, to make, arrange for or guaranty loans or to transfer other property to optionees upon exercise of Options, or such other
provisions as shall be determined by the Board of Directors; provided that such additional provisions shall not be inconsistent with any other term or condition of the Plan and such additional provisions shall not be such as to cause any
Incentive Stock Option to fail to qualify as an Incentive Stock Option within the meaning of Section 422 of the Code. 
  

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 12.2 Acceleration, Extension, Etc. The Board of Directors may, in its sole discretion,
(i) accelerate the date or dates on which all or any particular Option or Options may be exercised or (ii) extend the dates during which all, or any particular, Option or Options may be exercised; provided, however, that no such
extension shall be permitted if it would cause the Plan to fail to comply with Section 422 of the Code. 
 13. Rights as a
Shareholder. The holder of an Option shall have no rights as a shareholder with respect to any shares covered by the Option (including, without limitation, any rights to receive dividends or non-cash distributions with respect to such shares)
until the date of issue of a stock certificate to him or her for such shares. No adjustment shall be made for dividends or other rights for which the record date is prior to the date such stock certificate is issued. 
 14. Adjustment Provisions for Recapitalizations and Related Transactions. 
 14.1 General. If, through or as a result of any merger, consolidation, sale of all or substantially all of the assets of the Company,
reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, (i) the outstanding shares of Common Stock are increased, decreased or exchanged for a different number or kind
of shares or other securities of the Company, or (ii) additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock or other securities, an
appropriate and proportionate adjustment may be made in (x) the maximum number and kind of shares reserved for issuance under the Plan, (y) the number and kind of shares or other securities subject to any then outstanding Options, and
(z) the price for each share subject to any then outstanding Options, without changing the aggregate purchase price as to which such Options remain exercisable. Notwithstanding the foregoing, no adjustment shall be made pursuant to this
Section 14 if such adjustment would cause the Plan to fail to comply with Section 422 of the Code. 
 14.2 Board Authority to
Make Adjustments. Any adjustments under this Section 14 will be made by the Board of Directors, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. No fractional
shares will be issued under the Plan on account of any such adjustments. 
 15. Merger, Consolidation, Asset Sale, Liquidation, etc.

 15.1 General. In the event of a consolidation or merger or sale of all or substantially all of the assets of the Company in which
outstanding shares of Common Stock are exchanged for securities, cash or other property of any other corporation or business entity, or in the event of a liquidation of the Company, the Board of Directors of the Company, or the board of directors of
any corporation assuming the obligations of the Company, may, in its discretion, take any one or more of the following actions, as to some or all outstanding Options (and need not take the same action as to each such Option): (i) provide that
such Options shall be assumed, or equivalent Options shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), provided that any such Options substituted for Incentive Stock Options shall meet the
requirements of Section 424(a) of the Code, (ii) upon written notice to the optionees, provide that all unexercised Options will terminate immediately prior to the consummation of such transaction unless 

  

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exercised by the optionee (to the extent otherwise then exercisable) within a specified period following the date of such notice, (iii) in the event of
a merger under the terms of which holders of the Common Stock of the Company will receive upon consummation thereof a cash payment for each share surrendered in the merger (the “Merger Price”), make or provide for a cash payment to the
optionees equal to the difference between (A) the Merger Price times the number of shares of Common Stock subject to such outstanding Options (to the extent then exercisable at prices not in excess of the Merger Price) and (B) the
aggregate exercise price of all such outstanding Options, in exchange for the termination of such Options and (iv) provide that all or any outstanding Options shall become exercisable in full immediately prior to such event. 
 15.2 Substitute Options. The Company may grant Options in substitution for Options held by employees of another corporation who become employees
of the Company, or a subsidiary of the Company, as the result of a merger or consolidation of the employing corporation with the Company or a subsidiary of the Company, or as a result of the acquisition by the Company, or one of its subsidiaries, of
property or stock of the employing corporation. The Company may direct that substitute Options be granted on such terms and conditions as the Board of Directors considers appropriate in the circumstances. 
 15.3 Grant Stock. In the event of a business combination or other transaction of the type detailed in Section 15.1, any securities, cash or
other property received in exchange for shares of Grant Stock shall continue to be governed by the provisions of any Grant Stock Agreement pursuant to which they were issued, including any provision regarding vesting, and such securities, cash, or
other property may be held in escrow on such terms as the Board of Directors may direct, to insure compliance with the terms of any such Grant Stock Agreement. 
 16. No Special Employment Rights. Nothing contained in the Plan or in any Option or Grant Stock Agreement shall confer upon any optionee any right with respect to the continuation of his or her employment by
the Company or interfere in any way with the right of the Company at any time to terminate such employment or to increase or decrease the compensation of the optionee. 
 17. Other Employee Benefits. The amount of any compensation deemed to be received by an employee as a result of the issuance of shares of Grant Stock or the grant or exercise of an Option or the sale of shares
received upon such award or exercise will not constitute compensation with respect to which any other employee benefits of such employee are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, life insurance
or salary continuation plan, except as otherwise specifically determined by the Board of Directors. 
 18. Amendment of the Plan.

 18.1 The Board of Directors may at any time, and from time to time, modify or amend the Plan in any respect, except that if at any time
the approval of the shareholders of the Company is required under Section 422 of the Code or any successor provision with respect to Incentive Stock Options or in order to maintain compliance with Rule 16b-3 promulgated under the Exchange Act
or any successor rule, the Board of Directors may not effect such modification or amendment without such approval. 
  

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 18.2 The termination or any modification or amendment of the Plan shall not, without the consent of an
optionee, adversely affect his or her rights under an Option or Grant Stock previously granted to him or her. With the consent of the recipient of Grant Stock or optionee affected, the Board of Directors may amend outstanding Grant Stock Agreements
or Option Agreements in a manner not inconsistent with the Plan. The Board of Directors shall have the right to amend or modify the terms and provisions of the Plan and of any outstanding Incentive Stock Options to the extent necessary to qualify
any or all such Options for such favorable federal income tax treatment (including deferral of taxation upon exercise) as may be afforded incentive stock options under Section 422 of the Code. 
 19. Withholding. The Company shall have the right to deduct from payments of any kind otherwise due to the optionee or grantee any federal, state
or local taxes of any kind required by law to be withheld with respect to issuance of any shares of Grant Stock or shares issued upon exercise of Options. Subject to the prior approval of the Company, which may be withheld by the Company in its sole
discretion, the obligor may elect to satisfy such obligations, in whole or in part, (i) by causing the Company to withhold shares of Common Stock otherwise issuable or (ii) by delivering to the Company shares of Common Stock already owned
(and not subject to risk of forfeiture) by the obligor. The shares so delivered or withheld shall have a Fair Market Value equal to such withholding obligation, which Fair Market Value shall be determined as of the date that the amount of tax to be
withheld is to be determined. A person who has made an election pursuant to this Section 19 may only satisfy his or her withholding obligation with shares of Common Stock which are not subject to any repurchase, forfeiture, unfulfilled vesting
or other similar requirements. 
 20. Effective Date and Duration of the Plan. 
 20.1 Effective Date. The Plan shall become effective as of January 9, 2001 (the “Effective Date”). Amendments to the Plan not
requiring shareholder approval shall become effective when adopted by the Board of Directors; amendments requiring shareholder approval (as provided in Section 18) shall become effective when adopted by the Board of Directors, but no Incentive
Stock Option granted after the date of such amendment shall become exercisable (to the extent that such amendment to the Plan was required to enable the Company to grant such Incentive Stock Option to a particular optionee) unless and until such
amendment shall have been approved by the Company’s shareholders. If such shareholder approval is not obtained within twelve months of the Board’s adoption of such amendment, any Incentive Stock Options granted on or after the date of such
amendment shall terminate to the extent that such amendment to the Plan was required to enable the Company to grant such Option to a particular optionee. Subject to this limitation, Options may be granted under the Plan at any time after the
effective date and before the date fixed for termination of the Plan. 
 20.2 Termination. Unless sooner terminated in accordance with
Section 15 or by the Board of Directors, the Plan shall terminate upon the close of business on the day next preceding the tenth anniversary of the Effective Date. 
  

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 21. Provision for Foreign Participants. The Board of Directors may, without amending the Plan,
modify the terms of Option or Grant Stock Agreements to differ from those specified in the Plan with respect to participants who are foreign nationals or employed outside the United States to recognize differences in laws, rules, regulations or
customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. 
 22. Requirements of
Law. The Company shall not be required to sell or issue any shares under any Option if the issuance of such shares shall constitute a violation by the optionee or by the Company of any provisions of any law or regulation of any governmental
authority. In addition, in connection with the Securities Act of 1933, as now in effect or hereafter amended (the “Act”), the Company shall not be required to issue any shares upon exercise of any Option unless the Company has received
evidence satisfactory to it to the effect that the holder of such Option will not transfer such shares except pursuant to a registration statement in effect under the Act or unless an opinion of counsel satisfactory to the Company has been received
by the Company to the effect that such registration is not required in connection with any such transfer. Any determination in this connection by the Board shall be final, binding and conclusive. In the event the shares issuable on exercise of an
Option are not registered under the Act or under the securities laws of each relevant state or other jurisdiction, the Company may imprint on the certificate(s) appropriate legends that counsel for the Company considers necessary or advisable to
comply with the Act or any such state or other securities law. The Company may register, but in no event shall be obligated to register, any securities covered by the Plan pursuant to the Act; and in the event any shares are so registered the
Company may remove any legend on certificates representing such shares. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option or the issuance of shares pursuant thereto to comply with any law
or regulation of any governmental authority. 
 23. Governing Law. This Plan and each Option shall be governed by the laws of The
State of Delaware, without regard to its principles of conflicts of law. 
 *    *    * 
  

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