Document:

EX-10.5

 EXHIBIT 10.5 

MANAGEMENT INCENTIVE COMPENSATION PLAN 
  

 MANAGEMENT INCENTIVE COMPENSATION PLAN 

 

	1.	Purpose of the Plan 

 The Management Incentive Compensation Plan (the
“Plan”) of Autolus Ltd (“Autolus”) is designed to offer incentive compensation to officers and managers of Autolus (the “Associates”) by rewarding the achievement of corporate goals and specifically
measured personal goals that are consistent with and support the achievement of the corporate goals. The Plan will create an environment that will focus Associates on the achievement of objectives. Since cooperation between departments and
Associates is required to achieve the corporate goals and because such corporate goals represent a significant portion of the incentive compensation paid under the Plan, the Plan fosters teamwork and a cohesive management team. The Plan is designed
to: 
  

	 	•	 	Provide an incentive program to achieve overall corporate objectives and to enhance shareholder value 

  

	 	•	 	Reward those individuals who significantly impact corporate results 

  

	 	•	 	Encourage increased teamwork among all disciplines within Autolus 

  

	 	•	 	Incorporate an incentive program in the overall compensation program of Autolus to help attract and retain key Associates 

  

	2.	Plan Governance 

 The Chairman & CEO of Autolus (the “CEO”)
will be responsible for the administration of the Plan for Associates of Autolus, except that the Remuneration Committee (the “Committee”) of the Board of Directors of Autolus (the “Board”) will be responsible for
approving any incentive awards to the CEO and the members of the Executive Management of Autolus (each of whom hereafter referred to as “EM Member”). 
  

	3.	Plan Year 

 The period for the measurement of performance is the fiscal year of the
Company, which is currently the Oct 1 to Sep 30 (the “Plan Year”), unless otherwise determined by the Committee. 
  

	4.	Eligibility 

  

	 	4.1	The EM Members are eligible to participate in the Plan. Any other Associates who may be eligible to participate in the Plan will be selected at the sole discretion of Autolus. Each EM Member and each Associate
selected to participate in the Plan is hereafter referred to as a “Plan Participant”. 

  

	 	4.2	In order to be eligible to receive any incentive award under this Plan, an Associate (a) must have been employed by Autolus for at least three (3) consecutive months during the Plan Year, and
(b) must reach at least a rating of personal goals of 75%. 

  

	5.	Form of Incentive Award Payments 

 Incentive award payments may be made in cash, or, at
the discretion of the Committee and subject to the approval of the Board, through the issuance of vested stock or stock options, or by a combination of cash, stock and/or stock options. In the event that the Committee and the Board elect to pay
incentive awards in stock or stock options, the Committee, in its sole discretion, will make a determination of the number of shares of stock or stock options to be issued to each Plan Participant based, in part, upon the Plan Participant’s
achievement of corporate and personal goals as described below. Stock options will be subject to the terms and conditions of Autolus’ Stock Option Plan 2012, as may be amended from time to time by Autolus. 

  
 1. 

	6.	Target Award Multiplier 

 The target incentive award of each Plan Participant is
determined by applying a “target award multiplier” to the base salary of the Plan Participant. The target award multiplier is dependent on the management level of the Plan Participant. The following target award multipliers will apply to
determine the target incentive award of the Plan Participants for the Plan Year, provided that the Committee, based on individual circumstances and in its discretion, may approve a target award multiplier for a Plan Participant that is different
from that listed below: 
  

					
	Position	  	Target Award Multiplier	 
	 CEO
	  	 	50	% 
	 Senior Vice President
	  	 	35	% 
	 Vice President
	  	 	30	% 
	 Director
	  	 	20	% 
	 Manager or Group Leader
	  	 	10	% 

  

	7.	Corporate and Personal Goals 

  

	 	7.1	Prior to the beginning of the Plan Year, the CEO will present to the Committee a list of the overall corporate goals for the Plan Year, which are subject to approval of the Committee and the Board. The Committee
assigns a percentage to each corporate goal based on the relative importance of the goal compared to the other corporate goals, with the sum of all percentages amounting to 100%. In addition to the Corporate Goals all Plan Participants except for
the CEO develop a list of personal goals, which must be approved by the immediate supervisor and the EM Member responsible for the applicable department, or by the CEO for personal goals of the other EM Members. The supervisor assigns a percentage
to each personal goal based on the relative importance of the goal compared to the other personal goals, with the sum of all percentages amounting to 100%. 

  

	 	7.2	The Plan calls for incentive awards based on the achievement of annual corporate and personal goals that have been approved as described in Section 6.1 above. The relative weight between corporate goals and
personal goals varies based on the Plan Participant’s level within the organization. The weighting of the corporate goals relative to the personal goals for the Plan Year is as follows: 

 

									
	Position	  	Weighting of
Corporate Goals	 	 	Weighting of
Personal Goals	 
	 CEO
	  	 	100	% 	 	 	0	% 
	 Senior Vice President
	  	 	75	% 	 	 	25	% 
	 Vice President
	  	 	75	% 	 	 	25	% 
	 Director
	  	 	50	% 	 	 	50	% 
	 Manager and Group Leader
	  	 	25	% 	 	 	75	% 

  
 2. 

	8.	Performance Assessment 

  

	 	8.1	Achievement of Corporate Goals 

 Within 30 days after the end of the Plan Year, the Chief
Executive Officer will present to the Committee his assessment of the achievement of the corporate goals for that Plan Year. The Committee will review and discuss the assessment with the Chief Executive Officer, and will determine the percentage of
the achievement of the corporate goals during a meeting of the Committee in a closed session. The payment multiplier for the corporate goals determined by the Committee will be used for all Plan Participants in any given year. The Committee may, in
its discretion, include achievements that have not been established as corporate goals at the beginning of the Plan Year or determine that the level of achievement of a particular corporate goal exceeds 100%. 

 

	 	8.2	Achievement of Personal Goals 

 Within 30 days after the end of the Plan Year, the Chief
Executive Officer will present to the Committee his assessment of the achievement of the personal goals of each EM Member for that Plan Year. The Committee will review and discuss the assessment with the Chief Executive Officer, and will determine
the percentage of the achievement of the personal goals during a meeting of the Committee in consultation with the Chief Executive Officer. 

Each supervisor will determine the achievement of the personal goals of the Associates reporting to him, subject to the approval of the EM
Member responsible for the applicable department. The final determination of the achievement of the personal goals will be made by the Executive Board taking into account the variances in goal setting and assessment practices across the departments
of Autolus. 
 The Committee and the supervisors may, in their discretion, include achievements that have not been established as personal
goals at the beginning of the Plan Year or determine that the level of achievement of a particular personal goal exceeds 100%. 
  

	9.	Calculation of Cash Incentive Award 

  

	 	9.1	The target award of a Plan Participant is calculated by multiplying the Plan Participant’s base salary as of September 30 of the Plan Year by the target award multiplier. This amount is then divided
between its corporate component and its individual component based on the weighting assigned for the specific management level. After the end of the Plan Year, the achievement of the corporate and personal goals (each expressed as a percentage) will
be established as described in Section 7 above. The corporate award multiplier, which is based on overall corporate performance, is used to calculate corporate goal component of the incentive award by multiplying the target award for the
corporate goal component by the percentage of the corporate goal achievement determined by the Committee. The percentage determined by the Compensation Committee or the responsible supervisor for the achievement of the personal goals of a Plan
Participant is used in the same way to calculate the personal goal component of the incentive award. 

  
 3. 

 Example: 
  

							
	 Position:
	  	Vice
President	 			
	 Base Salary:
	  	GBP 150,000	 			
	 Target Award Multiplier:
	  	30%	 			
	 Target Award:
	  	GBP 45,000	 	 	(GBP 150,000 x 30%)	 
	 Weighting of corporate goal component:
	  	75%	 			
	 Weighting of personal goal component:
	  	25%	 			
	 Target Award Calculation:
	  		 			
	 Target Award based on corporate goals:
	  	GBP 33,750	 	 	(GBP 45,000 x 75%)	 
	 Target Award based on personal goals:
	  	GBP 11,250	 	 	(GBP 45,000 x 25%)	 
	 Actual achievement of corporate goals:
	  	90%	 			
	 Actual achievement of personal goals:
	  	95%	 			
	 Actual Incentive Award:
	  		 			
	 Corporate goals component:
	  	GBP 30,375	 	 	(GBP 33,750 x 90%)	 
	 Personal goals component:
	  	GBP 10,688	 	 	(GBP 11,250 x 95%)	 
		  	  
	 			
	 Total Incentive Award:
	  	GBP 41,063	 			
		  	  
	 			

  

	 	9.2	Any incentive award payable to a Plan Participant who has a part-time work schedule will be based on the actual base salary paid to such Plan Participant during the Plan Year. 

 

	 	9.3	Any incentive award payable to a Plan Participant who has been eligible for an incentive award payment under the Plan for less than a full Plan Year will be pro-rated based
on the number of days in which such Plan Participant was in an eligible position. 

  

	 	9.4	If a Plan Participants is promoted during the Plan Year from one target award multiplier level to another, his or her incentive award will be calculated based on their base salary on September 30 of the Plan
Year, but based on the amount of time during the Plan Year served at each target award multiplier level. 

  

	10.	Payment of the Incentive Award 

 Annual performance reviews for Plan Participants will be
completed before December 31 of the year following the Plan Year. Payment of incentive awards will be made as soon as practicable thereafter. Incentive award payments to the CEO and to the EM Members must be approved by the Board based on the
recommendation of the Committee. 
  

	11.	Termination 

 If a Plan Participant has given or received a notice of termination or if a
Plan Participant’s employment is terminated prior to the payment of the incentive award under this Plan, Autolus will have sole and absolute discretion as to whether or not to pay an incentive award. If Autolus decides to pay an incentive award
to such Plan Participant, Autolus will have sole and absolute discretion as to whether to pay the full amount or a portion of the amount of the incentive award that may be payable to the Plan Participant in accordance with the provisions of this
Plan. 

  
 4. 

	12.	Absolute Right to Alter or Abolish the Plan 

 Autolus reserves the right in its absolute
discretion to abolish the Plan at any time or to alter the terms and conditions under which incentive compensation will be paid. Such discretion may be exercised any time before, during, and after the Plan Year is completed. 

 

	13.	No Right to Incentive Award Payments 

 No Plan Participant will have any vested right to
receive any compensation under the Plan until actual delivery of such compensation. If an eligible Associate has been on probation for performance or other issues at any time during the Plan Year or during the period from the end of the Plan Year
until the time at which incentive award determinations are made, any award to such individual will be subject to the discretion of Autolus. The Associate will not have any right to receive any such incentive award payment and any payments made
cannot be taken as a precedent for future or further incentive award payments. 
  

	14.	Employment Relationship 

 This Plan does not, and Autolus’s policies and practices
in administering this Plan do not, constitute a contract or other agreement concerning the duration of any Plan Participant’s employment with Autolus. The employment relationship of each Plan Participant of Autolus is governed by the employment
agreement of the Plan Participant and applicable law, and may be terminated by Autolus or by the Plan Participant in accordance with the terms of such agreement and applicable law. To the extent that an employment agreement contains provisions
regarding incentive or bonus awards or payments that are inconsistent with any provisions of the Plan, the provisions that are more favorable to the Associate will apply. 

  
 5.EX-10.6

 EXHIBIT 10.6 

AUTOLUS THERAPEUTICS PLC 
 [Name of
Director or Officer] 
 [Address] 
 [Date] 

Dear [Name of Director or Officer], 
 Autolus Therapeutics
plc (the “Company”) and your role as a director/officer of the Company 
 As you are aware the Articles of Association of the Company (the
“Articles”) contain provisions, at Article 152, granting an indemnity to the directors and officers of the Company from time to time. We are taking this opportunity to afford you the direct benefit of this indemnity in the form of a deed
for your benefit (this “Deed”). As you are aware the Companies Act 2006 (the “Act”) imposes certain statutory limitations on the scope of this indemnity. For the avoidance of doubt the Company will maintain directors and officers
insurance (“D&O Cover”), which is intended to operate for your protection in addition to this indemnity. The current level of cover is set at £[•] and will be reviewed on an annual basis by the Board. 

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

 

	1.1	Without prejudice to any indemnity to which you may otherwise be entitled pursuant to Article 152 of the Articles, you shall be indemnified by the Company against all liabilities, costs, charges and expenses incurred by
you in the execution and discharge of your duties to the Company and any “Associated Company” of the Company (as defined by the Act for these purposes), including any liability incurred by you in defending any proceedings, civil or
criminal, which relate to anything done or omitted or alleged to be done or omitted by you as an officer of the Company or an Associated Company provided that no such indemnity shall extend to any liability arising out of your fraud or dishonesty or
by you obtaining any personal profit or advantage to which you were not entitled. In addition, to the Act prohibits this indemnity extending to: 

  

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

  

	 	(B)	any fine imposed in any criminal proceedings; 

  

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

  

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

 

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

 

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

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

	1.2	Without prejudice and in addition to any indemnity to which you may otherwise be entitled pursuant to Article 152 of the Articles you shall be indemnified by the Company against all liabilities, costs, charges and
expenses incurred by you in connection with the Company’s activities as a trustee of an occupational pension scheme (as defined by section 750(5) of the Finance Act 2004) established under a trust provided that no such indemnity shall extend to
any liability arising out of your fraud or dishonesty or the obtaining by you of any personal profit or advantage to which you were not entitled and you shall be entitled to be indemnified for: 

 

	 	(A)	any fine imposed in any criminal proceedings, 

  

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

 

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

 

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

  

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

  

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

  

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

  

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

 

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

  

	1.6	 You agree to give written notice to the Company as soon as reasonably practical after receipt of any demand
relating to any claim under this indemnity (or becoming aware of circumstances which are reasonably be expected to give rise to a demand relating to a claim) 

 
giving full details and providing copies of all relevant correspondence and you agree to keep the Company fully informed of the progress of any claim, including providing all such information in
relation to any claim or losses or any other costs, charges or expenses incurred as the Company may reasonably request, and shall take all such action as the Company may reasonably request to avoid, dispute, resist, appeal, compromise or defend any
claim. 
  

	1.7	For the avoidance of doubt: 

  

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

  

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

  

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

  

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

  

	1.10	[The Company hereby acknowledges that you may have certain rights to indemnification, advancement of expenses and/or insurance provided by [Name of Fund] and certain of its affiliates from time to time (collectively,
the “Fund Indemnitors”). The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to you are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification
for the same expenses or liabilities incurred by you are secondary), (ii) that it shall be required to advance the full amount of expenses incurred by you and shall be liable for the full amount of all expenses, judgments, penalties, fines and
amounts paid in settlement to the extent legally permitted and as required by the terms of this Deed and the Articles (or any other agreement between you and the Company), without regard to any rights you may have against the Fund Indemnitors, and,
(iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees
that no advancement or payment by the Fund Indemnitors on your behalf with respect to any claim for which you have sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution and/or
be subrogated to the extent of such advancement or payment to all of your rights of recovery against the Company. You and the Company agree that the Fund Indemnitors are express third party beneficiaries of the terms of this Section 1.10.]

  

	1.11	[Save as set forth in Section 1.10, a person who is not a party to this Deed has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term or, or enjoy any benefit under, this Deed but
this does not affect any right or remedy of a third party which exists or is available apart from the Contracts (Rights of Third Parties) Act 1999.] 

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

	
	Executed as a deed by
	
	  

	for and on behalf of
	AUTOLUS THERAPEUTICS PLC
	
	In the presence of:
	
	  

	Signature and name of witness
	
	
	Executed as a deed by [Name of Director or Officer]
	
	  

	Signature
	
	In the presence of:
	
	  

	Signature and name of witness

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