Document:

Form of 2002 Stock Incentive Plan

 EXHIBIT 10.1 

GLOBEIMMUNE, INC. 
 2002 STOCK INCENTIVE PLAN 
 Termination Date: December 31,
2012 

 TABLE OF CONTENTS 

 

							
		 		  	 	Page	  
	 1.
	 	PURPOSE	  	 	1	  
	 2.
	 	DEFINITIONS	  	 	1	  
	 3.
	 	ADMINISTRATION OF THE PLAN	  	 	4	  
		 	 3.1 Board
	  	 	4	  
		 	 3.2 Committee
	  	 	5	  
		 	 3.3 Grants
	  	 	5	  
		 	 3.4 Deferral Arrangement
	  	 	6	  
		 	 3.5 No Liability
	  	 	6	  
	 4.
	 	STOCK SUBJECT TO THE PLAN	  	 	6	  
	 5.
	 	GRANT ELIGIBILITY	  	 	7	  
		 	 5.1 Employees and Other Service Providers
	  	 	7	  
		 	 5.2 Successive Grants
	  	 	7	  
		 	 5.3 Limitations on Incentive Stock Options
	  	 	7	  
	 6.
	 	AWARD AGREEMENT	  	 	7	  
	 7.
	 	TERMS AND CONDITIONS OF OPTIONS	  	 	7	  
		 	 7.1 Option Price
	  	 	7	  
		 	 7.2 Vesting
	  	 	8	  
		 	 7.3 Term
	  	 	8	  
		 	 7.4 Exercise of Options on Termination of Service
	  	 	8	  
		 	 7.5 Limitations on Exercise of Option
	  	 	9	  
		 	 7.6 Exercise Procedure
	  	 	9	  
		 	 7.7 Right of Holders of Options
	  	 	9	  
		 	 7.8 Delivery of Stock Certificates
	  	 	9	  
	 8.
	 	TRANSFERABILITY OF OPTIONS	  	 	9	  
		 	 8.1 Transferability of Options
	  	 	9	  
		 	 8.2 Family Transfers
	  	 	10	  
	 9.
	 	RESTRICTED STOCK	  	 	10	  
		 	 9.1 Grant of Restricted Stock
	  	 	10	  
		 	 9.2 Restrictions
	  	 	10	  
		 	 9.3 Restricted Stock Certificates
	  	 	11	  
		 	 9.4 Rights of Holders of Restricted Stock
	  	 	11	  
		 	 9.5 Termination of Service
	  	 	11	  
		 	 9.6 Purchase and Delivery of Stock
	  	 	11	  
	 10.
	 	FORM OF PAYMENT	  	 	12	  
		 	 10.1 General Rule
	  	 	12	  
		 	 10.2 Surrender of Stock
	  	 	12	  
		 	 10.3 Cashless Exercise
	  	 	12	  
		 	 10.4 Promissory Note
	  	 	12	  
	 11.
	 	WITHHOLDING TAXES	  	 	13	  
	 12.
	 	RESTRICTIONS ON TRANSFER OF SHARES OF STOCK	  	 	13	  
		 	 12.1 Right of First Refusal
	  	 	13	  
		 	 12.2 Repurchase and Other Rights
	  	 	14	  
		 	 12.3 Installment Payments
	  	 	14	  
		 	                 12.3.1   General
Rule
	  	 	14	  
		 	                 12.3.2   Exception
in the Case of Stock Repurchase Right
	  	 	14	  

  
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		 	 12.4 Publicly Traded Stock
	  	14
		 	 12.5 Legend
	  	14
	 13.
	 	PARACHUTE LIMITATIONS	  	15
	 14.
	 	REQUIREMENTS OF LAW	  	15
		 	 14.1 General
	  	15
		 	 14.2 Rule 16b-3
	  	16
		 	 14.3 Financial Reports
	  	16
	 15.
	 	EFFECT OF CHANGES IN CAPITALIZATION	  	16
		 	 15.1 Changes in Stock
	  	16
		 	 15.2 Reorganization in Which the Corporation Is the Surviving Entity and in Which No Change of Control Occurs
	  	17
		 	 15.3 Reorganization, Sale of Assets or Sale of Stock Which Involves a Change of Control
	  	17
		 	 15.4 Adjustments
	  	18
		 	 15.5 No Limitations on Corporation
	  	18
	 16.
	 	DURATION AND AMENDMENTS	  	19
		 	 16.1 Term of the Plan
	  	19
		 	 16.2 Amendment and Termination of the Plan
	  	19
	 17.
	 	GENERAL PROVISIONS	  	19
		 	 17.1 Disclaimer of Rights
	  	19
		 	 17.2 Non-exclusivity of the Plan
	  	19
		 	 17.3 Captions
	  	20
		 	 17.4 Other Award Agreement Provisions
	  	20
		 	 17.5 Number and Gender
	  	20
		 	 17.6 Severability
	  	20
		 	 17.7 Governing Law
	  	20
	 18.
	 	EXECUTION	  	21

  
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 GLOBEIMMUNE, INC. 

2002 STOCK INCENTIVE PLAN 
 GlobeImmune, Inc., a Delaware corporation (the “Corporation”), sets forth herein the terms of its 2002 Stock Incentive Plan (the “Plan”) as follows: 

 

	1.	PURPOSE 

 The Plan is
intended to enhance the Corporation’s and its Affiliates’ (as defined herein) ability to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate such officers, directors, key employees,
and other persons to serve the Corporation and its Affiliates and to expend maximum effort to improve the business results and earnings of the Corporation, by providing to such officers, directors, key employees and other persons an opportunity to
acquire or increase a direct proprietary interest in the operations and future success of the Corporation. To this end, the Plan provides for the grant of stock options and restricted stock in accordance with the terms hereof. Stock Options granted
under the Plan may be non-qualified stock options or incentive stock options, as provided herein. 
  

	2.	DEFINITIONS 

 For purposes
of interpreting the Plan and related documents (including Award Agreements), the following definitions shall apply: 
 2.1
“Affiliate” means, with respect to the Corporation, any company or other trade or business that controls, is controlled by or is under common control with the Corporation within the meaning of Rule 405 of Regulation C under the
Securities Act, including, without limitation, any Subsidiary. 
 2.2 “Award Agreement” means the
stock option agreement, restricted stock agreement or other written agreement between the Corporation and an Optionee that evidences and sets out the terms and conditions of a Grant. 

2.3 “Benefit Arrangement” shall have the meaning set forth in Section 13 hereof. 

2.4 “Board” means the Board of Directors of the Corporation. 

2.5 “Cause” means, as determined by the Board and unless otherwise provided in an applicable employment agreement with
the Corporation or an Affiliate, (i) gross negligence or willful misconduct in connection with the performance of duties; (ii) conviction of a criminal offense (other than minor traffic offenses); or (iii) material breach of any term
of any employment, consulting or other services, confidentiality, intellectual property or non-competition agreements, if any, between the Service Provider and the Corporation or an Affiliate. 

  
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 2.6 “Change of Control” means (i) the
dissolution or liquidation of the Corporation or a merger, consolidation, or reorganization of the Corporation with one or more other entities in which the Corporation is not the surviving entity, (ii) a sale of substantially all of the assets
of the Corporation to another person or entity, or (iii) any transaction (including without limitation a merger or reorganization in which the Corporation is the surviving entity) which results in any person or entity (other than persons who
are shareholders or Affiliates immediately prior to the transaction) owning 50% or more of the combined voting power of all classes of stock of the Corporation. 
 2.7 “Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter amended. 
 2.8 “Committee” means a committee of, and designated from time to time by resolution of, the Board, which shall consist of one or more members of the Board. 

2.9 “Disability” means the Optionee is unable to perform each of the essential duties of
such Optionee’s position by reason of a medically determinable physical or mental impairment which is potentially permanent in character or which can be expected to last for a continuous period of not less than 12 months; provided, however,
that, with respect to rules regarding expiration of an Incentive Stock Option following termination of the Optionee’s Service, Disability shall mean the Optionee is unable to engage in any substantial gainful activity by reason of a medically
determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. 

2.10 “Effective Date” means June 5, 2002, the date the Plan is approved by the Board. 

2.11 “Exchange Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended. 

2.12 “Fair Market Value” means the value of a share of Stock, determined as follows: if on the Grant Date or other
determination date the Stock is listed on an established national or regional stock exchange, is admitted to quotation on The Nasdaq Stock Market, Inc., or is publicly traded on an established securities market, the Fair Market Value of a share of
Stock shall be the closing price of the Stock on such exchange or in such market (if there is more than one such exchange or market the Board shall determine the appropriate exchange or market) on the Grant Date or such other determination date (or
if there is no such reported closing price, the Fair Market Value shall be the mean between the highest bid and lowest asked prices or between the high and low sale prices on such trading day) or, if no sale of Stock is reported for such trading
day, on the next preceding day on which any sale shall have been reported. If the Stock is not listed on such an exchange, quoted on such system or traded on such a market, Fair Market Value shall be the value of the Stock as determined by the Board
in good faith. 
 2.13 “Family Member” means a person who is a spouse, former spouse, child, stepchild,
grandchild, parent, stepparent, grandparent, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including adoptive relationships, of the Optionee, any person sharing the
Optionee’s household (other than 

  
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a tenant or employee), a trust in which any one or more these persons have more than fifty percent of the beneficial interest, a foundation in which any one or more of these persons (or the
Optionee) control the management of assets, and any other entity in which one or more these persons (or the Optionee) own more than fifty percent of the voting interests; provided, however, that to the extent required by applicable law, the term
Family Member shall be limited to a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law,
including adoptive relationships, of the Optionee or a trust or foundation for the exclusive benefit of any one or more of these persons. 
 2.14 “Grant” means an award of an Option or Restricted Stock under the Plan. 
 2.15 “Grant Date” means, as determined by the Board, the latest to occur of (i) the date as of which the Board approves a Grant, (ii) the date on which the recipient of a Grant
first becomes eligible to receive a Grant under Section 5 hereof, or (iii) such other date as may be specified by the Board. 
 2.16 “Incentive Stock Option” means an “incentive stock option” within the meaning of Section 422 of the Code, or the corresponding provision of any subsequently enacted
tax statute, as amended from time to time. 
 2.17 “Non-qualified Stock Option” means a stock option that is
not an Incentive Stock Option. 
 2.18 “Option” means an option to purchase one or more shares of Stock
pursuant to the Plan. 
 2.19 “Option Price” means the purchase price for each share of Stock subject to an
Option. 
 2.20 “Optionee” means a person who receives or holds an Option or Restricted Stock under the Plan.

 2.21 “Other Agreement” shall have the meaning set forth in Section 13 hereof. 

2.22 “Plan” means this GlobeImmune, Inc. 2002 Stock Incentive Plan. 

2.23 “Purchase Price” means the purchase price for each share of Stock pursuant to a Grant of Restricted Stock.

 2.24 “Reporting Person” means a person who is required to file reports under Section 16(a) of the
Exchange Act. 
 2.25 “Restricted Stock” means shares of Stock, awarded to an Optionee pursuant to
Section 9 hereof, that are subject to restrictions and to a risk of forfeiture. 
 2.26 “Securities
Act” means the Securities Act of 1933, as now in effect or as hereafter amended. 

  
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 2.27 “Service” means service as an employee, officer, director or other
Service Provider of the Corporation or an Affiliate. Unless otherwise stated in the applicable Award Agreement, an Optionee’s change in position or duties shall not result in interrupted or terminated Service, so long as such Optionee continues
to be an employee, officer, director or other Service Provider of the Corporation or an Affiliate. Subject to the preceding sentence, whether a termination of Service shall have occurred for purposes of the Plan shall be determined by the Board,
which determination shall be final, binding and conclusive. 
 2.28 “Service Provider” means an employee,
officer or director of the Corporation or an Affiliate, or a consultant or adviser currently providing services to the Corporation or an Affiliate; provided that a Service Provider shall not be eligible for a Grant if, at the time of grant,
either the offer or the sale of the Corporation’s securities to such Service Provider is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Service Provider is providing to the
Corporation, or because the Service Provider is not a natural person, or as otherwise provided by Rule 701, unless the Corporation determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under
the Securities Act as well as comply with the securities laws of all other relevant jurisdictions. 
 2.29
“Stock” means the common stock, no par value per share, of the Corporation. 
 2.30
“Subsidiary” means any “subsidiary corporation” of the Corporation within the meaning of Section 424(f) of the Code. 
 2.31 “Ten-Percent Stockholder” means an individual who owns more than ten percent (10%) of the total combined voting power of all classes of outstanding
stock of the Corporation, its parent or any of its Subsidiaries. In determining stock ownership, the attribution rules of Section 424(d) of the Code shall be applied. 

 

	3.	ADMINISTRATION OF THE PLAN 

  

	 	3.1	Board. 

 The Board shall
have such powers and authorities related to the administration of the Plan as are consistent with the Corporation’s articles of incorporation and bylaws and applicable law. The Board shall have full power and authority to take all actions and
to make all determinations required or provided for under the Plan, any Grant or any Award Agreement, and shall have full power and authority to take all such other actions and make all such other determinations not inconsistent with the specific
terms and provisions of the Plan that the Board deems to be necessary or appropriate to the administration of the Plan, any Grant or any Award Agreement. All such actions and determinations shall be by the affirmative vote of a majority of the
members of the Board present at a meeting or by unanimous consent of the Board executed in writing in accordance with the Corporation’s articles of incorporation and bylaws and applicable law. The interpretation and construction by the Board of
any provision of the Plan, any Grant or any Award Agreement shall be final, binding and conclusive. To the extent permitted by law, the Board may delegate its authority under the Plan to a member of the Board or an executive officer of the
Corporation who is a member of the Board. 

  
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	 	3.2	Committee. 

 The Board
from time to time may delegate to one or more Committees such powers and authorities related to the administration and implementation of the Plan, as set forth in Section 3.1 above and in other applicable provisions, as the Board shall
determine, consistent with the articles of incorporation and bylaws of the Corporation and applicable law. In the event that the Plan, any Grant or any Award Agreement entered into hereunder provides for any action to be taken by or determination to
be made by the Board, such action may be taken by or such determination may be made by the applicable Committee if the power and authority to do so has been delegated to the Committee by the Board as provided for in Section 3.1. Unless
otherwise expressly determined by the Board, any such action or determination by the Committee shall be final, binding and conclusive. To the extent permitted by law, the Committee may delegate its authority under the Plan to a member of the Board
or an executive officer of the Corporation who is a member of the Board. 
  

	 	3.3	Grants. 

 Subject to the
other terms and conditions of the Plan, the Board shall have full and final authority to: 
 (i) designate Grantees, 

(ii) determine the type or types of Grants to be made to an Optionee, 

(iii) determine the number of shares of Stock to be subject to a Grant, 

(iv) establish the terms and conditions of each Grant (including, but not limited to, the Option Price of any Option, the nature and
duration of any restriction or condition (or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of a Grant or the shares of Stock subject thereto, and any terms or conditions that may be necessary to qualify
Options as Incentive Stock Options), 
 (v) prescribe the form of each Award Agreement evidencing a Grant, and 

(vi) amend, modify, or supplement the terms of any outstanding Grant. 

Such authority specifically includes the authority, in order to effectuate the purposes of the Plan but without amending the Plan, to
modify Grants to eligible individuals who are foreign nationals or are individuals who are employed outside the United States to recognize differences in local law, tax policy, or custom. As a condition to any Grant, the Board shall have the right,
at its discretion, to require Grantees to return to the Corporation Grants previously awarded under the Plan. Subject to the terms and conditions of the Plan, any such subsequent Grant shall be upon such terms and conditions as are specified by the
Board at the time the new Grant is made. The Board shall have the right, in its discretion, to make Grants in substitution or exchange for any other grant under another plan of the Corporation, any Affiliate, or any business entity to be acquired by
the Corporation or an Affiliate. The Corporation may retain the right in an Award Agreement to cause a forfeiture of the gain realized by an Optionee on account of actions taken 

  
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by the Optionee in violation or breach of or in conflict with any non-competition agreement, any agreement prohibiting solicitation of employees or clients of the Corporation or any Affiliate
thereof or any confidentiality obligation with respect to the Corporation or any Affiliate thereof or otherwise in competition with the Corporation or any Affiliate thereof, to the extent specified in such Award Agreement applicable to the Optionee.
Furthermore, the Corporation may annul a Grant if the Optionee is an employee of the Corporation or an Affiliate thereof and is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable. 

 

	 	3.4	Deferral Arrangement. 

The Board may permit or require the deferral of any award payment into a deferred compensation arrangement, subject to such rules and
procedures as it may establish, which may include provisions for the payment or crediting of interest or dividend equivalents, including converting such credits into deferred Stock equivalents and restricting deferrals to comply with hardship
distribution rules affecting 401(k) plans. 
  

	 	3.5	No Liability. 

 No member
of the Board or of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Grant or Award Agreement. 
  

	4.	STOCK SUBJECT TO THE PLAN 

Subject to adjustment as provided in Section 15 hereof and the limitations of the next paragraph relating to Restricted Stock
and Incentive Stock Options, the number of shares of Stock available for issuance under the Plan shall be 14,069,719 shares. Stock issued or to be issued under the Plan shall be authorized but unissued shares or, to the extent permitted by
applicable law, issued shares that have been reacquired by the Corporation. If any shares covered by a Grant are not purchased or are forfeited, or if a Grant otherwise terminates without delivery of any Stock subject thereto, then the number of
shares of Stock counted against the aggregate number of shares available under the Plan with respect to such Grant shall, to the extent of any such forfeiture or termination, again be available for making Grants under the Plan. If the exercise price
of any Option granted under the Plan is satisfied by tendering shares of Stock to the Corporation (by either actual delivery or by attestation), only the number of shares of Stock issued net of the shares of Stock tendered shall be deemed delivered
for purposes of determining the maximum number of shares of Stock available for delivery under the Plan. 
 Notwithstanding the
preceding paragraph, (a) of the 14,069,719 shares of Stock available for issuance under the Plan, no more than 20 percent (20%) of that amount (or 2,813,943 shares) shall be available for issuance as Restricted Stock, and (b) the
maximum number of shares of Stock available for issuance pursuant to Incentive Stock Options is 14,069,719 shares. 

  
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	5.	GRANT ELIGIBILITY 

  

	 	5.1	Employees and Other Service Providers. 

 Grants (including Grants of Incentive Stock Options, subject to Section 5.3) may be made under the Plan to any employee, officer or director of, or other Service Provider providing
services to, the Corporation or any Affiliate. To the extent required by applicable state law, Grants within certain states may be limited to employees and officers or employees, officers and directors. 

 

	 	5.2	Successive Grants. 

 An
eligible person may receive more than one Grant, subject to such restrictions as are provided herein. 
  

	 	5.3	Limitations on Incentive Stock Options. 

 An Option shall constitute an Incentive Stock Option only (i) if the Optionee of such Option is an employee of the Corporation or any Subsidiary of the Corporation; (ii) to the extent
specifically provided in the related Award Agreement; and (iii) to the extent that the aggregate Fair Market Value (determined at the time the Option is granted) of the shares of Stock with respect to which all Incentive Stock Options held by
such Optionee become exercisable for the first time during any calendar year (under the Plan and all other plans of the Optionee’s employer and its affiliates) does not exceed $100,000. This limitation shall be applied by taking Options into
account in the order in which they were granted. 
  

	6.	AWARD AGREEMENT 

 Each
Grant pursuant to the Plan shall be evidenced by an Award Agreement, in such form or forms as the Board shall from time to time determine, which specifies the number of shares subject to the Grant and provides for adjustment in accordance with
Section 15. Award Agreements granted from time to time or at the same time need not contain similar provisions but shall be consistent with the terms of the Plan. Each Award Agreement evidencing a Grant of Options shall specify whether
such Options are intended to be Non-qualified Stock Options or Incentive Stock Options, and in the absence of such specification such options shall be deemed Non-qualified Stock Options. 

 

	7.	TERMS AND CONDITIONS OF OPTIONS 

  

	 	7.1	Option Price. 

 The Option
Price of each Option shall be fixed by the Board and stated in the Award Agreement evidencing such Option. In the case of an Incentive Stock Option the Option Price shall not be less than the Fair Market Value on the Grant Date of a share of Stock;
provided, 

  
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however, that in the event that an Optionee is a Ten-Percent Stockholder, the Option Price of an Incentive Stock Option granted to such Optionee shall be not less than 110 percent of the Fair
Market Value of a share of Stock on the Grant Date. To the extent required by applicable law, in the case of a Non-qualified Stock Option, the Option Price shall be not less than 85 percent of the Fair Market Value on the Grant Date of a share of
Stock; provided, however, that in the event that an Optionee is a Ten-Percent Stockholder, the Option Price shall be not less than 110 percent of the Fair Market Value of a share of Stock on the Grant Date. In no case shall the Option Price of any
Option be less than the par value of a share of Stock. 
  

	 	7.2	Vesting. 

 Subject to
Sections 7.3 and 15.3 hereof, each Option granted under the Plan shall become exercisable at such times and under such conditions as shall be determined by the Board and stated in the Award Agreement. For purposes of this
Section 7.2, fractional numbers of shares of Stock subject to an Option shall be rounded down to the next nearest whole number. To the extent required by applicable law, each Option shall become exercisable no less rapidly than the rate
of twenty percent (20%) per year for each of the first five (5) years from the Grant Date based on continued Service. Subject to the preceding sentence, the Board may provide, for example, in the Award Agreement for (i) accelerated
exercisability of the Option in the event the Optionee’s Service terminates on account of death, Disability or another event, (ii) expiration of the Option prior to its term in the event of the termination of the Optionee’s Service,
(iii) immediate forfeiture of the Option in the event the Optionee’s Service is terminated for Cause or (iv) unvested Options to be exercised subject to the Corporation’s right of repurchase with respect to unvested shares of
Stock. 
  

	 	7.3	Term. 

 Each Option
granted under the Plan shall terminate, and all rights to purchase shares of Stock thereunder shall cease, upon the expiration of ten years from the Grant Date, or under such circumstances and on such date prior thereto as is set forth in the Plan
or as may be fixed by the Board and stated in the Award Agreement relating to such Option; provided, however, that in the event that the Optionee is a Ten-Percent Stockholder, an Option granted to such Optionee that is intended to be an Incentive
Stock Option shall not be exercisable after the expiration of five years from its Grant Date. 
  

	 	7.4	Exercise of Options on Termination of Service. 

 Each Award Agreement shall set forth the extent to which the Optionee shall have the right to exercise the Option following termination of the Optionee’s Service. Such provisions shall be determined
in the sole discretion of the Board, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. Notwithstanding the foregoing, to the extent required by applicable
law, each Option shall provide that the Optionee shall have the right to exercise the vested portion of any Option held at termination for at least thirty (30) days following termination of Service with the Corporation for any reason (other
than for Cause), and that the Optionee shall have the right to exercise the Option for at least six (6) months if the Optionee’s Service terminates due to death or Disability. 

  
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	 	7.5	Limitations on Exercise of Option. 

 Notwithstanding any other provision of the Plan, in no event may any Option be exercised, in whole or in part, prior to the date the Plan is approved by the shareholders of the Corporation, or after ten
years following the Grant Date, or after the occurrence of an event referred to in Section 15 hereof which results in termination of the Option. 
  

	 	7.6	Exercise Procedure. 

 An
Option that is exercisable may be exercised by the Optionee’s delivery to the Corporation of written notice of exercise on any business day, at the Corporation’s principal office, on the form specified by the Corporation. Such
notice shall specify the number of shares of Stock with respect to which the Option is being exercised and shall be accompanied by payment in full of the Option Price of the shares for which the Option is being exercised. The minimum number of
shares of Stock with respect to which an Option may be exercised, in whole or in part, at any time shall be the lesser of (i) 100 shares or such lesser number set forth in the applicable Award Agreement and (ii) the maximum number of
shares available for purchase under the Option at the time of exercise. The Option Price shall be payable in a form described in Section 10. Withholding taxes shall be payable in a form described in Section 11. 

 

	 	7.7	Right of Holders of Options. 

 Unless otherwise stated in the applicable Award Agreement, an individual holding or exercising an Option shall have none of the rights of a shareholder (for example, the right to cash or dividend payments
or distributions attributable to the subject shares of Stock or to direct the voting of shares of Stock) until the shares of Stock covered thereby are fully paid and issued to such individual. 

 

	 	7.8	Delivery of Stock Certificates. 

 Promptly after the exercise of an Option by an Optionee and the payment in full of the Option Price and any applicable tax withholding amounts, such Optionee shall be entitled to the issuance of a stock
certificate or certificates evidencing such Optionee’s ownership of the shares of Stock purchased upon such exercise of the Option. 
  

	8.	TRANSFERABILITY OF OPTIONS 

  

	 	8.1	Transferability of Options. 

 Except as provided in Section 8.2, during the lifetime of, only the Optionee (or, in the event of legal incapacity or incompetency, the Optionee’s guardian or legal representative) may
exercise an Option. Except as provided in Section 8.2, no Option shall be assignable or transferable by the Optionee to whom it is granted, other than by will or the laws of descent and distribution. 

  
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	 	8.2	Family Transfers. 

 If
authorized in the applicable Award Agreement, an Optionee may transfer, not for value, all or part of an Option that is not an Incentive Stock Option to any Family Member. For the purpose of this Section 8.2, a “not for value”
transfer is a transfer which is (i) a gift, (ii) a transfer under a domestic relations order in settlement of marital property rights; or (iii) unless applicable law does not permit such transfers, a transfer to an entity in which
more than fifty percent of the voting interests are owned by Family Members (or the Optionee) in exchange for an interest in that entity. Following a transfer under this Section 8.2, any such Option shall continue to be subject to the
same terms and conditions as were applicable immediately prior to transfer, and shares of Stock acquired pursuant to the Option shall be subject to the same restrictions on transfer of shares as would have applied to the Optionee. Subsequent
transfers of transferred Options are prohibited except to Family Members of the original Optionee in accordance with this Section 8.2 or by will or the laws of descent and distribution. The events of termination of Service under an
Option shall continue to be applied with respect to the original Optionee, following which the Option shall be exercisable by the transferee only to the extent, and for the periods specified in the applicable Award Agreement, and the shares may be
subject to repurchase by the Corporation or its assignee. 
  

	9.	RESTRICTED STOCK 

  

	 	9.1	Grant of Restricted Stock. 

The Board may from time to time grant Restricted Stock to persons eligible to receive Grants under Section 5 hereof, subject
to such restrictions, conditions and other terms as the Board may determine. 
  

	 	9.2	Restrictions. 

 At the
time a Grant of Restricted Stock is made, the Board shall establish a restriction period applicable to such Restricted Stock. Each Grant of Restricted Stock may be subject to a different restriction period. The Board may, in its sole discretion, at
the time a Grant of Restricted Stock is made, prescribe conditions that must be satisfied prior to the expiration of the restriction period, including the satisfaction of corporate or individual performance objectives or continued Service, in order
that all or any portion of the Restricted Stock shall vest. To the extent required by applicable law, the vesting restrictions applicable to a Grant of Restricted Stock shall lapse no less rapidly than the rate of twenty percent (20%) per year
for each of the first five (5) years from the Grant Date, based on continued Service. 
 The Board also may, in its sole
discretion, shorten or terminate the restriction period or waive any of the conditions applicable to all or a portion of the Restricted Stock. The Restricted Stock may not be sold, transferred, assigned, pledged or otherwise encumbered or disposed
of during the restriction period or prior to the satisfaction of any other conditions prescribed by the Board with respect to such Restricted Stock. 

  
 -10-

	 	9.3	Restricted Stock Certificates. 

 The Corporation shall issue, in the name of each Optionee to whom Restricted Stock has been granted, stock certificates representing the total number of shares of Restricted Stock granted to the Optionee,
as soon as reasonably practicable after the Grant Date. The Board may provide in an Award Agreement that either (i) the Secretary of the Corporation shall hold such certificates for the Optionee’s benefit until such time as the Restricted
Stock is forfeited to the Corporation, or the restrictions lapse, or (ii) such certificates shall be delivered to the Optionee, provided, however, that such certificates shall bear a legend or legends that complies with the applicable
securities laws and regulations and makes appropriate reference to the restrictions imposed under the Plan and the Award Agreement. 
  

	 	9.4	Rights of Holders of Restricted Stock. 

 Unless the Board otherwise provides in an Award Agreement, holders of Restricted Stock shall have the right to vote such Stock and the right to receive any dividends declared or paid with respect to such
Stock. The Board may provide that any dividends paid on Restricted Stock must be reinvested in shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable to such Restricted Stock. All distributions,
if any, received by an Optionee with respect to Restricted Stock as a result of any stock split, stock dividend, combination of shares, or other similar transaction shall be subject to the restrictions applicable to the original Grant. 

 

	 	9.5	Termination of Service. 

Unless otherwise provided by the Board in the applicable Award Agreement, upon the termination of an Optionee’s Service with the
Corporation or an Affiliate, any shares of Restricted Stock held by such Optionee that have not vested, or with respect to which all applicable restrictions and conditions have not lapsed, shall immediately be deemed forfeited, or, if
provided in the applicable Award Agreement, shall be subject to repurchase by the Corporation on the terms and conditions set forth therein. Upon forfeiture of Restricted Stock, the Optionee shall have no further rights with respect to such Grant,
including but not limited to any right to vote Restricted Stock or any right to receive dividends with respect to shares of Restricted Stock. 
  

	 	9.6	Purchase and Delivery of Stock. 

 The Optionee shall be required to purchase the Restricted Stock from the Corporation at a Purchase Price equal to the greater of (i) the aggregate par value of the shares of Stock represented by such
Restricted Stock or (ii) the Purchase Price, if any, specified in the Award Agreement relating to such Restricted Stock. The Purchase Price shall be payable in a form described in Section 10 or, in the discretion of the Board, in
consideration for past Services 

  
 -11-

 
rendered to the Corporation or an Affiliate. To the extent required by applicable law, the Purchase Price of a share of Restricted Stock shall be not less than 85 percent of the Fair Market Value
on the Grant Date of a share of Stock; provided, however, that in the event that the Optionee is a Ten-Percent Stockholder, the Purchase Price shall be not less than 100 percent of the Fair Market Value on the Grant Date of a share of Stock.

 Upon the expiration or termination of the restriction period and the satisfaction of any other conditions prescribed by the
Board, having properly paid the Purchase Price, the restrictions applicable to shares of Restricted Stock shall lapse, and, unless otherwise provided in the Award Agreement, a stock certificate for such shares shall be delivered, free of all such
restrictions, to the Optionee or the Optionee’s beneficiary or estate, as the case may be. 
  

	10.	FORM OF PAYMENT 

  

	 	10.1	General Rule. 

 Payment of
the Option Price for the shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock shall be made in cash or in cash equivalents acceptable to the Corporation. 

 

	 	10.2	Surrender of Stock. 

 To
the extent the Award Agreement so provides, payment of the Option Price for shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock may be made all or in part through the tender to the Corporation of shares
of Stock, which shares, if acquired from the Corporation, shall have been held for at least six months at the time of tender and which shall be valued, for purposes of determining the extent to which the Option Price or Purchase Price has been paid
thereby, at their Fair Market Value on the date of exercise. 
  

	 	10.3	Cashless Exercise. 

 With
respect to an Option only (and not with respect to Restricted Stock), to the extent the Award Agreement so provides and the shares of Stock have become publicly traded, payment of the Option Price for shares purchased pursuant to the exercise of an
Option may be made all or in part by delivery (on a form acceptable to the Board) of an irrevocable direction to a licensed securities broker acceptable to the Corporation to sell shares of Stock and to deliver all or part of the sales proceeds to
the Corporation in payment of the Option Price and any withholding taxes described in Section 11. 
  

	 	10.4	Promissory Note. 

 To the
extent the Award Agreement so provides, payment of the Option Price for shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock may be made all or in part with a full recourse promissory note executed by the
Optionee. The interest rate and other terms and conditions of such note shall be determined by the Board. The Board may require that the Optionee pledge the Stock subject to the Grant for the purpose of securing payment of the note. In no event
shall stock certificate(s) representing the Stock be released to the Optionee until such note is paid in full. 

  
 -12-

	11.	WITHHOLDING TAXES 

 The
Corporation or any Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to an Optionee any Federal, state, or local taxes of any kind required by law to be withheld with respect to the issuance of,
vesting of, or other lapse of restrictions applicable to, Restricted Stock, or upon the issuance of any shares of Stock upon the exercise of an Option. At the time of such issuance, vesting, lapse, or exercise, the Optionee shall pay to the
Corporation or Affiliate, as the case may be, any amount that the Corporation or Affiliate may reasonably determine to be necessary to satisfy such withholding obligation. Subject to the prior approval of the Corporation or the Affiliate, which may
be withheld by the Corporation or the Affiliate, as the case may be, in its sole discretion, the Optionee may elect to satisfy such obligations, in whole or in part, (i) by causing the Corporation or the Affiliate to withhold shares of Stock
otherwise issuable to the Optionee or (ii) by delivering to the Corporation or the Affiliate shares of Stock already owned by the Optionee. The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value equal to such
withholding obligations. The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Corporation or the Affiliate as of the date that the amount of tax to be withheld is to be determined. A
Optionee who has made an election pursuant to this Section 11 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting, or other similar requirements.

  

	12.	RESTRICTIONS ON TRANSFER OF SHARES OF STOCK 

  

	 	12.1	Right of First Refusal. 

Subject to Section 12.4 below, an Optionee (or such other individual who is entitled to exercise an Option or otherwise
acquire shares pursuant to a Grant under the terms of this Plan) shall not sell, pledge, assign, gift, transfer, or otherwise dispose of any shares of Stock acquired pursuant to a Grant to any person or entity without first offering such shares to
the Corporation for purchase on the same terms and conditions as those offered the proposed transferee. The Corporation may assign its right of first refusal under this Section 12.1 in whole or in part, to (1) any holder of stock or
other securities of the Corporation (a “Stockholder”), (2) any Affiliate or (3) any other person or entity that the Board determines has a sufficient relationship with or interest in the Corporation. The Corporation shall
give reasonable written notice to the Optionee of any such assignment of its rights. The restrictions of this Section 12.1 apply to any person to whom Stock that was originally acquired pursuant to a Grant is sold, pledged, assigned,
bequeathed, gifted, transferred or otherwise disposed of, without regard to the number of such subsequent transferees or the manner in which they acquire the Stock, but the restrictions of this Section 12.1 do not apply to a transfer of
Stock that occurs as a result of the death of the Optionee or of any subsequent transferee (but shall apply to the executor, the administrator or personal representative, the estate, and the legatees, beneficiaries and assigns thereof). 

  
 -13-

	 	12.2	Repurchase and Other Rights. 

 Stock issued upon exercise of an Option or pursuant to the Grant of Restricted Stock may be subject to such right of repurchase or other transfer restrictions as the Board may determine, consistent with
applicable law. Any such additional restriction shall be set forth in the Award Agreement. 
  

	 	12.3	Installment Payments. 

  

	 	12.3.1	General Rule. 

 In the
case of any purchase of Stock or an Option under this Section 12, the Corporation or its permitted assignee may pay the Optionee, transferee of the Option or other registered owner of the Stock the purchase price in three or fewer annual
installments. Interest shall be credited on the installments at the applicable federal rate (as determined for purposes of Section 1274 of the Code) in effect on the date on which the purchase is made. The Corporation or its permitted assignee
shall pay at least one-third of the total purchase price each year, plus interest on the unpaid balance, with the first payment being made on or before the 60th day after the purchase. 

 

	 	12.3.2	Exception in the Case of Stock Repurchase Right. 

 If an Award Agreement authorizes, upon the Optionee’s termination of Service, the repurchase of shares of Stock acquired by the Optionee pursuant to the exercise of an Option or under a Grant of
Restricted Stock, to the extent required by applicable law, payment shall be made in cash or by cancellation of indebtedness within the later of 90 days from the date of termination of Service or 90 days from the date of exercise or purchase, as the
case may be. 
  

	 	12.4	Publicly Traded Stock. 

If the Stock is listed on an established national or regional stock exchange or is admitted to quotation on The Nasdaq Stock Market, Inc.,
or is publicly traded in an established securities market, the foregoing transfer restrictions of Sections 12.1 and 12.2 (but not the Company’s right of repurchase, if any, of unvested Restricted Stock pursuant to
Section 9.3 upon an Optionee’s termination of Service) shall terminate as of the first date that the Stock is so listed, quoted or publicly traded. 
  

	 	12.5	Legend. 

 In order to
enforce the restrictions imposed upon shares of Stock under this Plan or as provided in an Award Agreement, the Board may cause a legend or legends to be placed on any certificate representing shares issued pursuant to this Plan that complies with
the applicable securities laws and regulations and makes appropriate reference to the restrictions imposed under it. 

  
 -14-

	13.	PARACHUTE LIMITATIONS 

Notwithstanding any other provision of this Plan or of any other agreement, contract, or understanding heretofore or hereafter entered
into by an Optionee with the Corporation or any Affiliate, except an agreement, contract, or understanding hereafter entered into that expressly modifies or excludes application of this paragraph (an “Other Agreement”), and
notwithstanding any formal or informal plan or other arrangement for the direct or indirect provision of compensation to the Optionee (including groups or classes of participants or beneficiaries of which the Optionee is a member), whether or not
such compensation is deferred, is in cash, or is in the form of a benefit to or for the Optionee (a “Benefit Arrangement”), if the Optionee is a ‘disqualified individual,’ as defined in Section 280G(c) of the Code,
any Options or Restricted Stock held by that Optionee and any right to receive any payment or other benefit under this Plan shall not become exercisable or vested (i) to the extent that such right to exercise, vesting, payment, or benefit,
taking into account all other rights, payments, or benefits to or for the Optionee under this Plan, all Other Agreements, and all Benefit Arrangements, would cause any payment or benefit to the Optionee under this Plan to be considered a
‘parachute payment’ within the meaning of Section 280G(b)(2) of the Code as then in effect (a “Parachute Payment”) and (ii) if, as a result of receiving a Parachute Payment, the aggregate after-tax amounts
received by the Optionee from the Corporation under this Plan, all Other Agreements, and all Benefit Arrangements would be less than the maximum after-tax amount that could be received by the Optionee without causing any such payment or benefit to
be considered a Parachute Payment. In the event that the receipt of any such right to exercise, vesting, payment, or benefit under this Plan, in conjunction with all other rights, payments, or benefits to or for the Optionee under any Other
Agreement or any Benefit Arrangement would cause the Optionee to be considered to have received a Parachute Payment under this Plan that would have the effect of decreasing the after-tax amount received by the Optionee as described in clause
(ii) of the preceding sentence, then the Optionee shall have the right, in the Optionee’s sole discretion, to designate those rights, payments, or benefits under this Plan, any Other Agreements, and any Benefit Arrangements that should be
reduced or eliminated so as to avoid having the payment or benefit to the Optionee under this Plan be deemed to be a Parachute Payment. 
  

	14.	REQUIREMENTS OF LAW 

  

	 	14.1	General. 

 The Corporation
shall not be required to sell or issue any shares of Stock under any Grant if the sale or issuance of such shares would constitute a violation by the Optionee, any other individual exercising a right emanating from such Grant, or the Corporation of
any provision of any law or regulation of any governmental authority, including without limitation any federal or state securities laws or regulations. If at any time the Corporation shall determine, in its discretion, that the listing, registration
or qualification of any shares subject to a Grant upon any securities exchange or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares hereunder, no shares of
Stock may be issued or sold to the Optionee or any other individual exercising an Option pursuant to such Grant unless such listing, registration, qualification, consent or approval shall 

  
 -15-

 
have been effected or obtained free of any conditions not acceptable to the Corporation, and any delay caused thereby shall in no way affect the date of termination of the Grant. Specifically, in
connection with the Securities Act, upon the exercise of any right emanating from such Grant or the delivery of any shares of Restricted Stock, unless a registration statement under the Securities Act is in effect with respect to the shares of Stock
covered by such Grant, the Corporation shall not be required to sell or issue such shares unless the Board has received evidence satisfactory to it that the Optionee or any other individual exercising an Option may acquire such shares pursuant to an
exemption from registration under the Securities Act. Any determination in this connection by the Board shall be final, binding, and conclusive. The Corporation may, but shall in no event be obligated to, register any securities covered hereby
pursuant to the Securities Act. The Corporation shall not be obligated to take any affirmative action in order to cause the exercise of an Option or the issuance of shares of Stock pursuant to the Plan to comply with any law or regulation of any
governmental authority. As to any jurisdiction that expressly imposes the requirement that an Option shall not be exercisable until the shares of Stock covered by such Option are registered or are exempt from registration, the exercise of such
Option (under circumstances in which the laws of such jurisdiction apply) shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption. 

 

	 	14.2	Rule 16b-3. 

 During any
time when the Corporation has a class of equity security registered under Section 12 of the Exchange Act, it is the intent of the Corporation that Grants pursuant to the Plan and the exercise of Options granted hereunder will qualify for the
exemption provided by Rule 16b-3 under the Exchange Act. To the extent that any provision of the Plan or action by the Board does not comply with the requirements of Rule 16b-3, it shall be deemed inoperative to the extent permitted by law and
deemed advisable by the Board, and shall not affect the validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may exercise its discretion to modify this Plan in any respect necessary to satisfy the requirements of, or
to take advantage of any features of, the revised exemption or its replacement. 
  

	 	14.3	Financial Reports. 

 To
the extent required by applicable law, not less often than annually, the Corporation shall furnish to Grantees summary financial information including a balance sheet regarding the Corporation’s financial condition and results of operations,
unless such Grantees have duties with the Corporation that assure them access to equivalent information. Such financial statements need not be audited. 
  

	15.	EFFECT OF CHANGES IN CAPITALIZATION 

  

	 	15.1	Changes in Stock. 

 The
number of shares for which Grants of Options and Restricted Stock may be made under the Plan shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any recapitalization,
reclassification, stock split, reverse 

  
 -16-

 
split, combination of shares, exchange of shares, stock dividend or other distribution payable in capital stock, or for any other increase or decrease in such shares effected without receipt of
consideration by the Corporation occurring after the Effective Date ( any such event hereafter referred to as a “Corporate Event”). In addition, subject to the exception set forth in the last sentence of Section 15.4,
the number of shares for which Grants are outstanding shall be proportionately increased or decreased for any increase or decrease in the number of shares of Stock on account of any Corporate Event. Any such adjustment in outstanding Options shall
not change the aggregate Option Price payable with respect to shares that are subject to the unexercised portion of an Option outstanding but shall include a corresponding proportionate adjustment in the Option Price per share. The conversion of any
convertible securities of the Corporation shall not be treated as an increase in shares effected without receipt of consideration. In the event of any distribution to the Corporation’s stockholders of securities of any other entity or other
assets (other than dividends payable in cash or stock of the Corporation) without receipt of consideration by the Corporation, the Corporation may, in such manner as the Corporation deems appropriate, adjust (i) the number and kind of shares
subject to outstanding Awards and/or (ii) the exercise price of outstanding Options to reflect such distribution. 
  

	 	15.2	Reorganization in Which the Corporation Is the Surviving Entity and in Which No Change of Control Occurs. 

Subject to the exception set forth in the last sentence of Section 15.4, if the Corporation shall be the surviving entity in
any reorganization, merger, or consolidation of the Corporation with one or more other entities and in which no Change of Control occurs, any Grant theretofore made pursuant to the Plan shall pertain to and apply solely to the common stock shares to
which a holder of the number of shares of Stock subject to such Grant would have been entitled immediately following such reorganization, merger, or consolidation, and in the case of Options, with a corresponding proportionate adjustment of the
Option Price per share so that the aggregate Option Price thereafter shall be the same as the aggregate Option Price of the shares remaining subject to the Option immediately prior to such reorganization, merger, or consolidation. Subject to any
contrary language in an Award Agreement evidencing a Grant of Restricted Stock, any restrictions applicable to such Restricted Stock shall apply as well to any replacement shares received by the Optionee as a result of the reorganization, merger or
consolidation. 
  

	 	15.3	Reorganization, Sale of Assets or Sale of Stock Which Involves a Change of Control. 

Subject to the exceptions set forth in the last sentence of this Section 15.3 and the last sentence of
Section 15.4, (i) upon the occurrence of a Change of Control, all outstanding shares of Restricted Stock held by an Optionee whose Service has not yet terminated shall be deemed to have vested, and, with the exception of such
restrictions imposed under Section 12, all restrictions and conditions applicable to such shares of Restricted Stock held by an Optionee whose Service has not yet terminated shall be deemed to have lapsed, immediately prior to the
occurrence of such Change of Control, and (ii) either of the following two actions shall be taken: (A) fifteen days prior to the scheduled consummation of a Change of Control, all Options outstanding hereunder held by an Optionee whose
Service has not yet terminated shall become immediately exercisable and shall remain exercisable for a period of fifteen days, or (B) the 

  
 -17-

 
Board may elect, in its sole discretion, to cancel any outstanding Grants that are vested (whether pursuant to this Section 15.3 or otherwise) and pay or deliver, or cause to be paid or
delivered, to the holder thereof an amount in cash or securities having a value (as determined by the Board acting in good faith), in the case of Restricted Stock, equal to the formula or fixed price per share paid to holders of shares of Stock and,
in the case of Options, equal to the product of the number of shares of Stock subject to the Option (the “Option Shares”) multiplied by the amount, if any, by which (I) the formula or fixed price per share paid to holders of
shares of Stock pursuant to such transaction exceeds (II) the Option Price applicable to such Option Shares. With respect to the Corporation’s establishment of an exercise window, (i) any exercise of an Option during such fifteen-day
period shall be conditioned upon the consummation of the event and shall be effective only immediately before the consummation of the event, and (ii) upon consummation of any Change of Control the Plan, and all outstanding but unexercised
Options shall terminate. The Board shall send written notice of an event that will result in such a termination to all individuals who hold Options not later than the time at which the Corporation gives notice thereof to its shareholders. This
Section 15.3 shall not apply to any Change of Control to the extent that provision is made in writing in connection with such Change of Control for the assumption or continuation of the Options and Restricted Stock theretofore granted,
or for the substitution for such Options and Restricted Stock for new common stock options and new common stock restricted stock relating to the stock of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the
number of shares (disregarding any consideration that is not common stock) and option prices, in which event the Plan and Options and Restricted Stock theretofore granted shall continue in the manner and under the terms so provided. 

 

	 	15.4	Adjustments. 

 Adjustments
under Section 15 related to shares of Stock or securities of the Corporation shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. No fractional shares or other securities shall be issued
pursuant to any such adjustment, and any fractions resulting from any such adjustment shall be eliminated in each case by rounding downward to the nearest whole share. The Board may provide in the Award Agreements at the time of Grant, or any time
thereafter with the consent of the Optionee, for different provisions to apply to a Grant in place of those described in Sections 15.1, 15.2 and 15.3. 
  

	 	15.5	No Limitations on Corporation. 

 The making of Grants pursuant to the Plan shall not affect or limit in any way the right or power of the Corporation to make adjustments, reclassifications, reorganizations, or changes of its capital or
business structure or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or any part of its business or assets. 

  
 -18-

	16.	DURATION AND AMENDMENTS 

  

	 	16.1	Term of the Plan. 

 The
Effective Date of this Plan is the date of its adoption by the Board, subject to the approval of the Plan by the Corporation’s stockholders. In the event that the stockholders fail to approve the Plan within twelve (12) months after its
adoption by the Board, any Grants already made shall be null and void, and no additional Grants shall be made after such date. The Plan shall terminate automatically on December 31, 2012. 

 

	 	16.2	Amendment and Termination of the Plan. 

 The Board may, at any time and from time to time, amend, suspend, or terminate the Plan as to any shares of Stock as to which Grants have not been made. An amendment to the Plan shall be contingent on
approval of the Corporation’s stockholders only to the extent required by applicable law, regulations or rules. No Grants shall be made after the termination of the Plan. No amendment, suspension, or termination of the Plan shall, without the
consent of the Optionee, alter or impair rights or obligations under any Grant theretofore awarded under the Plan. 
  

	17.	GENERAL PROVISIONS 

  

	 	17.1	Disclaimer of Rights 

 No
provision in the Plan or in any Grant or Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Corporation or any Affiliate, or to interfere in any way with any contractual or other
right or authority of the Corporation either to increase or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship between any individual and the Corporation or any Affiliate.
The obligation of the Corporation to pay any benefits pursuant to this Plan shall be interpreted as a contractual obligation to pay only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall in no
way be interpreted to require the Corporation to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment to any participant or beneficiary under the terms of the Plan. 

 

	 	17.2	Non-exclusivity of the Plan 

 Neither the adoption of the Plan nor the submission of the Plan to the shareholders of the Corporation for approval shall be construed as creating any limitations upon the right and authority of the Board
to adopt such other incentive compensation arrangements (which arrangements may be applicable either generally to a class or classes of individuals or specifically to a particular individual or particular individuals) as the Board in its discretion
determines desirable, including, without limitation, the granting of stock options otherwise than under the Plan. 

  
 -19-

	 	17.3	Captions 

 The use of
captions in this Plan or any Award Agreement is for the convenience of reference only and shall not affect the meaning of any provision of the Plan or such Award Agreement. 

 

	 	17.4	Other Award Agreement Provisions 

 Each Grant awarded under the Plan may contain such other terms and conditions not inconsistent with the Plan as may be determined by the Board, in its sole discretion. 

 

	 	17.5	Number and Gender 

 With
respect to words used in this Plan, the singular form shall include the plural form, the masculine gender shall include the feminine gender, etc., as the context requires. 

 

	 	17.6	Severability 

 If any
provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms,
and all provisions shall remain enforceable in any other jurisdiction. 
  

	 	17.7	Governing Law 

 The
validity and construction of this Plan and the instruments evidencing the Grants awarded hereunder shall be governed by the laws of the State of Colorado other than any conflicts or choice of law rule or principle that might otherwise refer
construction or interpretation of this Plan and the instruments evidencing the Grants awarded hereunder to the substantive laws of any other jurisdiction. 
 * * * * * * * 

  
 -20-

	18.	 	EXECUTION 

 To record
adoption of the Plan by the Board as of June 5, 2002, and approval of the Plan by the stockholders on June 5, 2002, the Corporation has caused its authorized officer to execute the Plan. 

 

	
	GLOBEIMMUNE, INC.
	
	 /s/ Richard C. Duke

	 Richard C. Duke
 President
and Chief Executive Officer

  
 -21-Form of Incentive Stock Option Agreement under 2002 Stock Incentive Plan

 EXHIBIT 10.1.1 

GLOBEIMMUNE, INC. 
 2002 STOCK INCENTIVE PLAN 
 INCENTIVE STOCK OPTION AGREEMENT(1)

 GLOBEIMMUNE, INC., a Delaware corporation (the “Corporation”), hereby grants an option to purchase
shares of its Common Stock, $.001 par value, (the “Stock”) to the optionee named below (the “Optionee”). The terms and conditions of the option are set forth in this cover sheet, in the attachment and in the
Corporation’s 2002 Stock Incentive Plan (the “Plan”). 
  

							
		 	 Grant Date:
	    	 	  	
		 	 Name of Optionee:
	    	 	  	
		 	 Optionee’s Social Security Number:        
	    	 	  	
		 	 Number of Shares Covered by Option:
	    	 	  	
		 	 Option Price per Share:
	    	$	  	
		 	 Vesting Start Date:
	    	 	  	
		 	 Expiration Date:
	    	 	  	

  

			
	 Vesting Schedule:
	  	 [As determined by the Board]

		
	 Payment:
	  	By one or a combination of the following items (described in the Stock Option Agreement):
		  	 •   By Cash or check

		  	 •   Pursuant to a Regulation T Program if the shares are publicly traded

		  	 •   By delivery of already-owned shares

 By signing this cover sheet, you agree to all of the terms and conditions described in the attached
Agreement and in the Plan, a copy of which is also attached. You acknowledge that you have carefully reviewed the Plan, and agree that the Plan will control in the event any provision of this Agreement should appear to be
inconsistent. 
  

					
	 OPTIONEE:
	 		 	GLOBEIMMUNE, INC.
			
	 	 		 	 
		 		 	Timothy C. Rodell, M.D.
		 		 	President and Chief Executive Officer

  

	[1] 	 If this is an Incentive Stock Option, it (plus your other outstanding incentive stock options) cannot be first exercisable for more than
$100,000 in value (measured by exercise price) in any calendar year. Any excess over $100,000 is a Non-Qualified Stock Option. 

  
 1. 

 GLOBEIMMUNE, INC. 

2002 STOCK INCENTIVE PLAN 
 INCENTIVE STOCK OPTION AGREEMENT 
 1. Incentive Stock Option.
This option is intended to be an incentive stock option under Section 422 of the Internal Revenue Code (the “Code”) and will be interpreted accordingly. If you cease to be an employee of the Company, its Parent, a
Subsidiary or an Affiliate (“Employee”) but continue to provide Service, this option will be deemed a nonstatutory stock option on the 90th day after you cease to be an Employee. In addition, to the extent that all or part of this option exceeds the $100,000
rule of Section 422(d) of the Code, this option or the lesser excess part will be deemed to be a nonstatutory stock option. 
 2. The
Plan. The text of the Plan is incorporated in this Agreement by reference. Certain capitalized terms used in this Agreement, but not defined in this Agreement, are defined in the Plan, and have the meanings set forth in the Plan.

 This Agreement and the Plan constitute the entire understanding between you and the Company regarding this option. Any prior
agreements, commitments or negotiations concerning this option are superseded. 
 3. Vesting. The shares of Stock under this option will
vest over a four-year period, as indicated below. 
  

	 	•	 	 Twenty-five percent (25%) of the Stock vests on the first anniversary of the vesting start date (“Anniversary Date”),
provided you have been in Service throughout this period. Thereafter, 1/36th of the remaining Seventy-five percent (75%) of the Stock vests at the end of each month that you remain in Service. 

The resulting aggregate number of vested shares will be rounded to the nearest whole number, and you cannot vest in more than the number
of shares covered by this option. The option may be exercised, in whole or in part, to purchase a whole number of shares of not less than one hundred (100) shares, unless the number of shares purchased is the total number available for purchase
under the option. 
 Notwithstanding the foregoing vesting schedule, in the event of a Change of Control, prior to expiration of
this option or any option substituted for that option in the Change of Control, and at a time when your Service has terminated for the Company, any unvested stock covered by this option shall become fully and immediately vested on your Involuntary
Termination Date. You will experience an “Involuntary Termination Date” on your employment termination date, if your Service is terminated by the Company or its successor (other than for Cause) within eighteen (18) months of
the date of consummation of a Change of Control of the Company. 
 In the event that a Change of Control causes: (a) a
reduction in your base salary; (b) a change in the location of your normal place of work to a location more than a forty (40) mile 

  
 2. 

 
radius from such normal location, and such change (i) increases the length of your normal commute to work or (ii) requires you to relocate your principal residence (as requested by the
Company); or (c) a material diminution in your position or responsibilities with the Company, from those which you held immediately prior to the Change of Control, then you may, upon written notice to the Company, elect to treat such event as a
termination without Cause for the purpose of acceleration of the vesting of your shares as set forth herein; provided that you in fact terminate your Service with the Company. 

No additional shares of Stock will vest after your Service has terminated for any reason. 

4. Term. Your option will expire in any event at the close of business at Company headquarters on the day before the 10-year anniversary of the
Grant Date, as shown on the cover sheet. Your option will expire earlier if your Service terminates, as described below. 

5. Regular Termination. If your Service terminates for any reason, other than death, Disability or Cause, then your option
will expire at the close of business at Company headquarters on the ninetieth (90th) day after your termination date. 
 6. Termination for Cause. If your Service is
terminated for Cause, then you shall immediately forfeit all rights to your option and the option shall immediately expire. 
 7. Death.
If your Service terminates because of your death, then your option will expire at the close of business at Company headquarters on the date twelve (12) months after the date of death. During that 12-month period, your estate or heirs may
exercise the vested portion of your option. 
 In addition, if you die during the 90-day period in which the exercise of the
vested portion of your option is allowed following a regular termination, as described above (i.e., a termination of your Service not on account of your death, Disability or for Cause), and a vested portion of your option has not yet been
exercised, then your option will instead expire on the date twelve (12) months after your termination date. In such a case, during the period following your death up to the date twelve (12) months after your termination date, your estate
or heirs may exercise the vested portion of your option. 
 8. Disability. If your Service terminates because of your Disability, then
your option will expire at the close of business at Company headquarters on the date twelve (12) months after your termination date. 

9. Leaves of Absence. For purposes of this option, your Service does not terminate when you go on a bona fide employee leave of absence
that was approved by the Company in writing, if the terms of the leave provide for continued Service crediting, or when continued Service crediting is required by applicable law. However, your Service will be treated as terminating ninety
(90) days after you went on employee leave, unless your right to return to active work is guaranteed by law or by a contract. Your Service terminates in any event when the approved leave ends unless you immediately return to active employee
work. 
 The Board determines, in its sole discretion, which leaves of absence count for this purpose, and when your Service
terminates for all purposes under the Plan. 

  
 3. 

 10. Notice of Exercise. When you wish to exercise this option, you must notify the Company by filing
the proper Notice of Exercise form attached hereto as Exhibit A at the address given on the form. Your notice must specify how many shares you wish to purchase (in a parcel of at least one hundred (100) shares generally).
Your notice must also specify how your shares of Stock should be registered (in your name only or in your and your spouse’s names as joint tenants with right of survivorship). The notice will be effective when it is received by the Company.

 If someone else wants to exercise this option after your death, that person must prove to the Board’s satisfaction that
he or she is entitled to do so. 
 11. Form of Payment. When you submit your Notice of Exercise, you must include payment of the option
price for the shares you are purchasing. Payment may be made in one (or a combination) of the following forms: 
  

	 	•	 	 Cash, your personal check, a cashier’s check, a money order or another cash equivalent acceptable to the Company. 

 

	 	•	 	 Shares of Stock which have already been owned by you for more than six (6) months and which are surrendered to the Company. The value of the
shares, determined as of the effective date of the option exercise, will be applied to the option price. 

  

	 	•	 	 To the extent a public market for the Stock exists as determined by the Company, by delivery (on a form prescribed by the Company) of an irrevocable
direction to a licensed securities broker acceptable to the Company to sell Stock and to deliver all or part of the sale proceeds to the Company in payment of the aggregate option price and any withholding taxes. 

12. Withholding Taxes. You will not be allowed to exercise this option unless you make acceptable arrangements to pay any withholding or other
taxes that may be due as a result of the option exercise or sale of Stock acquired under this option. In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the exercise
or sale of shares arising from this grant, the Company shall have the right to require such payments from you, or withhold such amounts from other payments due to you from the Company or any Affiliate. 

13. Transfer of Option. During your lifetime, only you (or, in the event of your legal incapacity or incompetency, your guardian or legal
representative) may exercise the option. You cannot transfer or assign this option. For instance, you may not sell this option or use it as security for a loan. If you attempt to do any of these things, this option will immediately become invalid.
You may, however, dispose of this option in your will or it may be transferred upon your death by the laws of descent and distribution. 
 Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your spouse, nor is the Company obligated to recognize your spouse’s interest
in your option in any other way. 

  
 4. 

 14. Market Stand-off Agreement. In connection with any underwritten public offering by the Company of
its equity securities pursuant to an effective registration statement filed under the Securities Act, including the Company’s IPO, you agree not to sell, make any short sale of, loan, hypothecate, pledge, grant any option for the purchase of,
or otherwise dispose or transfer for value or agree to engage in any of the foregoing transactions with respect to any shares of Stock without the prior written consent of the Company or its underwriters, for such period of time after the effective
date of such registration statement as may be requested by the Company or the underwriters (not to exceed one hundred-eighty (180) days in length). 
 15. Investment Representation. If the sale of Stock under the Plan is not registered under the Securities Act, but an exemption is available which requires an investment or other representation,
you shall represent and agree at the time of exercise that you are acquiring the Stock upon exercise of this option for investment, and not with a view to the sale or distribution thereof, and shall make any other representations as are deemed
necessary or appropriate by the Company and its counsel. 
 16. The Company’s Right of First Refusal. If you propose to sell, pledge
or otherwise transfer to a third party any Stock acquired upon exercise of your options under this Agreement, or any interest in such Stock, the Company shall have the “Right of First Refusal” with respect to all (and not less than
all) of such shares of Stock. If you desire to transfer Stock acquired under this Agreement, you must give a written transfer notice to the Company describing fully the proposed transfer, including the number of shares proposed to be transferred,
the proposed transfer price and the name and address of the proposed transferee (“Transfer Notice”). 
 The
Transfer Notice shall be signed both by you and by the proposed new transferee and must constitute a binding commitment of both parties to the transfer of the shares. The Company shall have the right to purchase all, and not less than all, of the
shares of Stock on the terms of the proposal described in the Transfer Notice (subject, however, to any change in such terms permitted in the next paragraph). The Company must notify you in writing of its intent to exercise its Right of First
Refusal within thirty (30) days after the date when the Transfer Notice was received by the Company. 
 If the Company
fails to exercise its Right of First Refusal within thirty (30) days after the date it received the Transfer Notice, you may, not later than ninety (90) days following the Company’s receipt of the Transfer Notice, conclude a transfer
of the Stock only on the terms and conditions described in the Transfer Notice. Any proposed transfer on terms and conditions different from those described in the Transfer Notice, as well as any subsequent proposed transfer by you, shall again be
subject to the Right of First Refusal and shall require compliance with the procedure described in the paragraph above. 
 If
the Company exercises its Right of First Refusal, the sale of the Stock to the Company shall occur on the terms set forth in the Transfer Notice within sixty (60) days after the date the Company received the Transfer Notice (or within such
longer period as may have been specified in the Transfer Notice); provided, however, that if under the Transfer Notice payment for the Stock was to be made in a form other than lawful money paid at the time of transfer, the Company shall have
the option of paying for the Stock with lawful money equal to the present value of the consideration described in the Transfer Notice. 

  
 5. 

 If the Company purchases any Stock under this Right of First Refusal,
the Company may, at its option, pay you the purchase price in three or fewer annual installments. Interest shall be credited on the outstanding unpaid installments at the applicable federal rate (as determined for purposes of Section 1274 of
the Code) in effect on the date on which the purchase is made. The Company shall pay at least one third (1/3) of the total purchase price each year, plus interest on the unpaid balance, with the first payment being made on or before the
sixtieth (60th) day after the purchase. 

The Company’s rights under this subsection shall be freely assignable, in whole or in part, shall inure to the benefit of its
successors and assigns and shall be binding upon any transferee of the shares of Stock. 
 The Company’s Right of First
Refusal shall terminate if the Stock is listed on an established national or regional stock exchange, is admitted for quotation on the National Association of Securities Dealers Automated Quotation System, or is publicly traded in an established
securities market. 
 17. Forfeiture of Rights. If you should take actions in competition with the Company, all or a portion of your
rights under this Agreement may be forfeited by you at the discretion of the Company, including, but not limited to: 
 (a)
a forfeiture of any outstanding option; and 
 (b) for the twenty-four (24) month period commencing twelve
(12) months prior to your termination of Service with the Company and ending twelve (12) months following such termination of Service: (i) a forfeiture of any gain recognized by you upon the exercise of an option; or (ii) a
forfeiture of any Stock acquired by you upon the exercise of an option (but the Company will pay you the option price without interest). 
 Unless otherwise specified in an employment or other agreement between the Company and you, you take actions in competition with the Company if you directly or indirectly, own, manage, operate, join or
control, or participate in the ownership, management, operation or control of, or are a proprietor, director, officer, stockholder, member, partner or an employee or agent of, or a consultant to any business, firm, corporation, partnership or other
entity which competes with any business in which the Company or any of its Affiliates is engaged during your employment or other relationship with the Company or its Affiliates or at the time of your termination of Service. Under the prior sentence,
ownership of less than one percent (1%) of the securities of a public company shall not be treated as an action in competition with the Company. 
 18. Right to Repurchase Stock Acquired upon Exercise of Options. Following termination of your Service for any reason, the Company shall have the right to purchase all of those shares of Stock that
you have or will acquire upon exercise of this option pursuant to this section of the Agreement. If the Company exercises its right to purchase the shares, the Company will notify you of its intention to purchase such shares. The Company will
consummate the purchase within one (1) year (or ninety (90) days to the extent required by applicable law) of your termination of Service or, in the case of Stock acquired after your termination of Service, within one (1) year (or
ninety (90) days to the extent required by applicable law) of the date of exercise. 

  
 6. 

 The purchase price shall be the Fair Market Value of the shares on the date of your
termination of Service if the Company exercises its right to purchase such shares either (i) within ninety (90) days of your termination of Service, or (ii) within ninety (90) days of the date of your exercise of the option
following termination of Service. Otherwise, the purchase price shall be the Fair Market Value of the shares on the date the Company gives you notice of its intent to exercise its right to purchase the shares. 

The Company’s rights of repurchase shall terminate if the Stock is listed on an established national or regional stock exchange, is
admitted for quotation on the National Association of Securities Dealers Automated Quotation System, or is publicly traded in an established securities market. 
 19. No Employment Agreement. Neither your option nor this Agreement gives you the right to be retained by the Company (or any Parent, Subsidiaries or Affiliates) in any capacity. The description of
vesting schedules in this Agreement in units of years or months shall not be construed as guaranteeing you any term of employment to the end of any such period of time or for any period of time. The Company (and any Parent, Subsidiaries or
Affiliates) reserves the right to terminate your Service at any time and for any reason. 
 20. Shareholder Rights. You, or your
estate or heirs, have no rights as a shareholder of the Company until you exercise your right to purchase Stock under this Agreement and the Company issues a certificate to you representing the shares acquired upon the exercise of your option. No
adjustments to the number of shares you are entitled to acquire under this option will be made for dividends or other rights if the applicable record date occurs before your stock certificate is issued, except as described in the Plan. 

21. Adjustments. In the event of a stock split, a stock dividend or a similar change in the Stock, the number of shares covered by this option and
the option price per share may be adjusted (and rounded down to the nearest whole number) pursuant to the Plan. Your option shall be subject to the terms of any agreement of merger, liquidation or reorganization in the event the Company is subject
to such corporate activity. 
 22. Legends. All certificates representing the Stock issued upon exercise of this option shall, where
applicable, contain substantially the following legends: 
 “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE
COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE. 

  
 7. 

 THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR ANY SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION OR QUALIFICATION THEREOF UNDER SUCH ACT AND SUCH APPLICABLE STATE OR OTHER
JURISDICTION’S SECURITIES LAWS OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION AND QUALIFICATION IS NOT REQUIRED.” 
 23. Applicable Law. This Agreement will be interpreted and enforced under the laws of the State of Colorado (other than any conflicts or choice of law rule or principle that might otherwise refer
construction or interpretation of this Agreement to the substantive law of another jurisdiction) except that the Delaware General Corporation Law shall govern as to corporate law. 
 24. Other Agreements. You agree, as a condition of the grant of this option, that in connection with the exercise of the option, you will execute such document(s) as necessary to become a
party to any shareholder agreement or voting trust as the Company may require. 
 25. Certain Dispositions. So that the Company
can comply with its tax reporting obligations, if you sell or otherwise dispose of Stock acquired upon exercise of this option following termination of the Company’s Right of First Refusal and sooner than the one-year anniversary of the date
you acquired the Stock, then you agree to notify the Company in writing of the date of sale or disposition, the number of shares of Stock sold or disposed of and the sale price per share within thirty (30) days of such sale or disposition.

 By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the
Plan. 

  
 8. 

 EXHIBIT A 

GLOBEIMMUNE, INC. 
 2002 STOCK INCENTIVE PLAN 
 NOTICE OF EXERCISE 

 NOTICE OF EXERCISE 
 The undersigned hereby gives Notice to GlobeImmune, Inc. (the “Company”) of the desire to purchase shares of Common Stock of the Company pursuant to an Incentive Stock Option Agreement.

  

	1.	Exercise of Option. 

Name:                     
                                         
       
 Date:
                                         
                            
 Shares to be Exercised:
                                        

 Price:
                                         
                            
  

	2.	Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price for the Shares as follows. (Check all that apply and complete as
appropriate. The total payment must equal the purchase price of the Shares.) 

  

	 	 ̈	cash in the amount of $            . 

 

	 	 ̈	check in the amount of $            . 

 

	 	 ̈	by surrender of shares owned and held for more than six months with a value of $            
represented by certificate number             . 

  

	3.	Share Registration. The Shares are to be registered (Check one only): 

 

	 	 ̈	in Purchaser’s name, or 

  

	 	 ̈	in Purchaser’s name and the name of Purchaser’s spouse, as joint tenants with right of survivorship 

Purchaser’s spouse’s
name:                                        
                         
 Purchaser’s spouse’s Social Security No.:
                                        

  
 Name 
 Social Security No.:
                                         
  
 Address:
                                         
                    
  

			
	Company’s Use:
 
	 	 
	Date Received
 
	 	 
	Official’s Initials

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