Document:

EX-10.40

 Exhibit 10.40 

OXFORD IMMUNOTEC GLOBAL PLC 

INCENTIVE PLAN 
 This
Incentive Plan (the “Plan”) has been established to advance the interests of Oxford Immunotec Global PLC (the “Company”) by providing for the grant of Awards to eligible employees of the Company and its subsidiaries, including
Awards intended to qualify for the performance-based compensation exemption under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”) (Section 162(m) of the Code, together with the regulations thereunder,
“Section 162(m)”), to the extent applicable. Awards intended to qualify for the performance-based compensation exemption under Section 162(m) are referred to herein as “Exempt Awards”. 

I. ADMINISTRATION 
 The
Plan will be administered by the Remuneration Committee of the Board of Directors of the Company (the “Committee”) and its delegates. The Committee and its delegates, to the extent of such delegation, are referred to herein as the
“Administrator”. All determinations and other actions of the Administrator required by the performance-based compensation provisions of Section 162(m) to be made or taken by a “compensation committee” will be made or taken
hereunder directly by the Committee, and all references to the Administrator herein are to be construed accordingly. With respect to Exempt Awards, if any member of the Committee is not an “outside director” (as defined in
Section 162(m)), “Committee” means a subcommittee of the Committee consisting solely of those members who are “outside directors” as so defined. 

The Administrator has the authority to interpret the Plan and Awards, to determine eligibility for Awards, to determine the terms of and the
conditions applicable to any Award, and generally to do all things necessary to administer the Plan. Any interpretation or decision by the Administrator with respect to the Plan or any Award will be final and conclusive as to all parties. 

II. ELIGIBILITY; PARTICIPANTS 

Executive officers and other key employees of the Company and its subsidiaries shall be eligible to participate in the Plan. The Committee will
select, from among those eligible, the persons who will from time to time participate in the Plan (each, a “Participant”). Participation with respect to one Award under the Plan will not entitle an individual to participate with respect to
a subsequent Award or Awards, if any. 
 III. GRANT OF AWARDS 

The term “Award” as used in the Plan means an award opportunity that is granted to a Participant with respect to a specified
performance period (consisting of the Company’s fiscal year or such other period as the Administrator may determine, each, a “Performance Period”). A Participant who is granted an Award will be entitled to a payment, if any, under the
Award only if all conditions to payment have been satisfied in accordance with the Plan and the terms of the Award. By accepting (or, under such rules as the Committee may prescribe, being 

 
deemed to have accepted) an Award, the Participant agrees (or will be deemed to agree) to the terms of the Award and the Plan. For each Award, the Administrator shall establish the following:

 (a) the Performance Criteria (as defined in Section IV below) applicable to the Award; 

(b) the amount or amounts that will be payable (subject to adjustment in accordance with Section V) if the Performance Criteria are achieved;
and 
 (c) such other terms and conditions as the Administrator deems appropriate, subject in each case to the terms of the Plan. 

For Exempt Awards, (i) such terms shall be established by the Committee not later than (A) the ninetieth (90th) day after the
beginning of the Performance Period, in the case of a Performance Period of 360 days or longer, or (B) the end of the period constituting the first quarter of the Performance Period, in the case of a Performance Period of less than 360 days,
and (ii) once the Committee has established the terms of such Award in accordance with the foregoing, it shall not thereafter adjust such terms, except to reduce payments, if any, under the Award in accordance with Section V or as otherwise
permitted in accordance with the requirements of Section 162(m). 
 IV. PERFORMANCE CRITERIA 

As used in the Plan, “Performance Criteria” means specified criteria, other than the mere continuation of employment or the mere
passage of time, the satisfaction of which is a condition for the vesting, payment or full enjoyment of an Award. A Performance Criterion and any targets with respect thereto determined by the Committee need not be based upon an increase, a positive
or improved result or avoidance of loss and may be applied to the Participant individually, or to a business unit or division or the Company as a whole. For Exempt Awards, a Performance Criterion will mean an objectively determinable measure or
objectively determinable measures of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the context permits, on a
divisional, subsidiary, line of business, project or geographical basis or in combinations thereof): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation, amortization or
equity expense, whether or not on a continuing operations or an aggregate or per share basis; return on equity, investment, capital, capital employed or assets; one or more operating ratios; operating income or profit, including on an after-tax
basis; net income; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return; sales of particular products or services; customer acquisition or retention; acquisitions and
divestitures (in whole or in part); joint ventures, strategic alliances, licenses or collaborations; spin-offs, split-ups and the like; reorganizations; recapitalizations, restructurings, financings (issuance of debt or equity) or refinancings;
manufacturing or process development; or achievement of clinical trial or research objectives, regulatory or other filings or approvals or other product development milestones. To the extent consistent with the requirements of Section 162(m),
the Committee may establish that, in the case of any Exempt Award, one or more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, the impact of charges for
restructurings, discontinued 

  
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operations, mergers, acquisitions, extraordinary items, and other unusual or non-recurring items, and the cumulative effects of tax or accounting changes, each as defined by U.S. generally
accepted accounting principles) occurring during the Performance Period that affect the applicable Performance Criterion or Criteria. 

V. CERTIFICATION OF PERFORMANCE; AMOUNT PAYABLE UNDER AWARDS 

As soon as practicable after the close of a Performance Period, the Administrator will determine whether and to what extent, if at all, the
Performance Criterion or Criteria applicable to each Award granted for the Performance Period have been satisfied and, in the case of Exempt Awards, will take such steps as it determines to be sufficient to satisfy the certification requirement
under Section 162(m) as to such performance results. The Administrator shall then determine the actual payment, if any, under each Award. No amount may be paid under any Exempt Award unless such certification requirement has been satisfied as
set forth above, except as provided by the Committee consistent with the requirements of Section 162(m). The Administrator may, in its sole and absolute discretion and with or without specifying its reasons for doing so, after determining the
amount that would otherwise be payable under any Award for a Performance Period, reduce (including to zero) the actual payment, if any, to be made under such Award or, in the case of Awards other than Exempt Awards, otherwise adjust the amount
payable under such Award. The Administrator may exercise the discretion described in the immediately preceding sentence either in individual cases or in ways that affect more than one Participant. The actual payment under an Exempt Award may be less
than (but in no event more than) the amount indicated by the certified level of achievement under the Award. The actual payment under an Award other than an Exempt Award may be more or less than the amount indicated by the level of achievement under
the Award. In each case the Administrator’s discretionary determination, which may affect different Awards differently, will be binding on all parties. 

VI. PAYMENT UNDER AWARDS 

Except as otherwise determined by the Administrator or as otherwise provided in this Section VI, all payments under the Plan will be made, if
at all, not later than March 15th of the calendar year following the calendar year in which the Performance Period ends; provided, that the Administrator may authorize elective deferrals of any Award payments in accordance with the
deferral rules of Section 409A of the Code and the regulations thereunder (“Section 409A”). The Administrator may, but need not, provide that an Award payment will not be made unless the Participant has remained employed with the
Company and its subsidiaries through the date of payment. Any deferrals with respect to an Exempt Award will be subject to adjustment for notional interest or other notional earnings on a basis, determined by the Administrator, that is consistent
with qualification of the Award as exempt performance-based compensation under Section 162(m). Awards under the Plan are intended either to qualify for exemption from, or to comply with the requirements of, Section 409A. 

The Administrator may provide that all or a portion of an Award will be paid or settled in shares of common stock of the Company
(“Shares”) or in equity awards denominated in, based on or with respect to, Shares, in each case, on such terms and conditions as specified by 

  
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the Administrator which, in the case of Exempt Awards, shall be consistent with qualification of the Award as exempt performance-based compensation under Section 162(m). Any Shares paid or
settled in satisfaction of an Award shall be delivered from the Shares reserved for issuance under the Company’s equity incentive plan, as it may exist from time or time. 

VII. PAYMENT LIMITS 
 The
maximum amount payable to any Participant in any fiscal year of the Company under Exempt Awards will be $2.5 million, which limitation, with respect to any such Awards for which payment is deferred in accordance with Section VI above, shall be
applied without regard to such deferral. 
 VIII. TAX WITHHOLDING; LIMITATION ON LIABILITY 

All payments under the Plan will be subject to reduction for applicable tax and other legally or contractually required withholdings. 

Neither the Company nor any affiliate, nor the Administrator, nor any person acting on behalf of the Company, any affiliate, or the
Administrator, will be liable for any adverse tax or other consequences to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award that may arise or otherwise be asserted with respect to an Award,
including, but not limited to, by reason of the application of Section X below or any acceleration of income or any additional tax (including any interest and penalties) asserted by reason of the failure of an Award to satisfy the requirements of
Section 409A or by reason of Section 4999 of the Code. 
 IX. AMENDMENT AND TERMINATION 

The Committee may amend the Plan at any time and from time to time; provided, that, with respect to Exempt Awards, no amendment for
which Section 162(m) would require shareholder approval in order to preserve the eligibility of such Awards as exempt performance-based compensation shall be effective unless approved by the shareholders of the Company in a manner consistent
with the requirements of Section 162(m). The Committee may at any time terminate the Plan. 
 X. MISCELLANEOUS 

Awards held by a Participant are subject to forfeiture, termination and rescission, and a Participant will be obligated to return to the
Company payments received with respect to Awards, in each case (a) to the extent provided by the Administrator in connection with (i) a breach by the Participant of an Award agreement or the Plan, or any non-competition, non-solicitation,
confidentiality or similar covenant or agreement with the Company or any of its affiliates or (ii) an overpayment to the Participant of incentive compensation due to inaccurate financial data, (b) in accordance with any applicable Company
clawback or recoupment policy, as such policy may be amended and in effect from time to time, or (c) as otherwise required by law or applicable stock exchange listing standards, including, without limitation, Section 10D of the Securities
Exchange Act of 1934, as amended. Each Participant, by accepting an Award pursuant to the Plan, agrees to return the full amount required under this Section X at such time and in such manner as the Administrator shall determine in its sole
discretion and consistent with applicable law. 

  
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 No person shall have any claim or right to be granted an Award, nor shall the selection for
participation in the Plan for any Performance Period be construed as giving a Participant the right to be retained in the employ or service of the Company or its affiliates for that Performance Period or for any other period. The loss of an Award
will not constitute an element of damages in the event of termination of employment for any reason, even if the termination is in violation of an obligation of the Company or any affiliate to the Participant. 

In the case of any Exempt Award, the Plan and such Award will be construed and administered to the maximum extent permitted by law in a manner
consistent with qualifying the Award for the exemption for performance-based compensation under Section 162(m), notwithstanding anything to the contrary in the Plan. Awards will not be required to comply with the provisions of the Plan
applicable to Exempt Awards (including, without limitation, the composition of the Committee as set forth in Section I above) if and to the extent they are eligible (as determined by the Committee) for exemption from such limitations by reason of
the transition relief set forth in Treas. Regs. § 1.162-27(f). 
 The Plan shall be effective as of November 1, 2013 (the
“Effective Date”) and shall supersede and replace the Company’s annual cash bonus program or programs with respect to Awards granted to eligible executive officers and employees after the Effective Date. 

  
 5EX-10.46

 Exhibit 10.46 

LETTER OF APPOINTMENT FOR A NON-EXECUTIVE DIRECTOR 

31 October 2013 
 [Director] 

Dear [Addressee]: 
 Letter of appointment 

The board of directors (Board) of Oxford Immunotec Global PLC (Company) is pleased to confirm your continued service as Chairman of the Board as
a non-executive director. 
 This letter sets out the main terms of your appointment. If you have any questions about or are concerned with any of the
terms, or need any more information, please let me know. 
 By accepting this appointment, you agree that this letter is a contract for service as a
director and is not a contract of employment and you confirm that you are not subject to any restrictions which prevent you from holding office as a director. 
  

	1.	APPOINTMENT 

  

	1.1	Subject to the remaining provisions of this letter, your appointment under this letter shall be for an initial term commencing on the effective date of the Company’s initial public offering (the “IPO”)
until the date of the [first] [second] [third] annual general meeting (AGM) unless terminated earlier by either party giving to the other one month’s prior written notice. It is expressly acknowledged and understood that this appointment
is contingent upon the IPO and, if the IPO does not occur, this letter of appointment shall be null and void. 

  

	1.2	Your appointment is subject to the Company’s articles of association, as amended from time to time (Articles). Nothing in this letter shall be taken to exclude or vary the terms of the Articles as they apply
to you as a director of the Company. The Articles require one third of the directors to retire by rotation and seek re-election at each Annual General Meeting of the Shareholders (“AGM”). 

 

	1.3	Continuation of your appointment is contingent on your continued satisfactory performance, renomination by the nominating and corporate governance committee and approval of the Board, and re-election by the shareholders
and any relevant statutory provisions and provisions of the Articles relating to removal of a director. If you are not re-nominated or approved by the Board, the shareholders do not re-elect you as a director, or you are retired from office under
the Articles, your appointment shall terminate automatically, with immediate effect. 

	1.4	Any term renewal is subject to the recommendation of the nominating and corporate governance committee and review and approval of the Board review as well as AGM re-election. Notwithstanding any mutual expectation,
there is no right to re-nomination by the Board. 

  

	1.5	You may be required to serve on one or more Board committees. In such case you will be provided with the relevant terms of reference on your appointment to such a committee. 

 

	1.6	Notwithstanding paragraph 1.1 to paragraph 1.5, the Company may terminate your appointment with immediate effect if you have: 

  

	 	(a)	committed a material breach of your obligations under this letter; 

  

	 	(b)	committed any serious or repeated breach or non-observance of your obligations to the Company (which include an obligation not to breach your statutory, fiduciary or common-law duties); 

 

	 	(c)	been guilty of any fraud or dishonesty or acted in any manner which, in the Company’s opinion, brings or is likely to bring you or the Company into disrepute or is materially adverse to the Company’s
interests; 

  

	 	(d)	been convicted of an arrestable criminal offence other than a road traffic offence for which a fine or non-custodial penalty is imposed; 

 

	 	(e)	been declared bankrupt or have made an arrangement with or for the benefit of your creditors, if you have a county court administration order made against you under the County Court Act 1984; or 

 

	 	(f)	been disqualified from acting as a director; or 

  

	 	(g)	not complied with the Company’s anti-corruption and anti-bribery policy and procedures. 

  

	1.7	On termination of your appointment, you shall resign from your office as director of the Company unless otherwise requested by the Company. 

 

	1.8	If matters arise which cause you concern about your role, you should discuss these matters with the [chairman][chief executive officer] . If you have any concerns which cannot be resolved, and you choose to resign for
that, or any other, reason, you should provide an appropriate written statement to the [chairman][chief executive officer] for circulation to the Board. 

  

	2.	TIME COMMITMENT 

  

	2.1	You will be expected to devote such time as is necessary for the proper performance of your duties. The specific requirements of a director of the Board are set forth in the Company’s Corporate Governance
Guidelines, as may be amended from time to time. 

  

	2.2	The nature of the role makes it impossible to be specific about the maximum time commitment. You may be required to devote additional time to the Company in respect of preparation time and ad hoc matters which may arise
and particularly when the Company is undergoing a period of increased activity. At certain times it may be necessary to convene additional Board, committee or shareholder meetings. 

  
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	2.3	By accepting this appointment, you confirm that, taking into account all of your other commitments, you are able to allocate sufficient time to the Company to discharge your responsibilities effectively. You should
obtain the agreement of the [chairman][chief executive officer] before accepting additional commitments that might affect the time you are able to devote to your role as a non-executive director of the Company. 

 

	3.	ROLE AND DUTIES 

  

	3.1	The Board as a whole is collectively responsible for the success of the Company. The Board’s role is to set the Company’s strategic aims and ensure that the necessary financial and human resources are in place
for the Company to meet its objectives. The Board also reviews management performance and ensures that the Company meets its obligations to its shareholders and others. As a non-executive director you shall have the same general legal
responsibilities to the Company as any other director. You are expected to perform your duties (whether statutory, fiduciary or common law) faithfully, diligently and to a standard commensurate with the functions of your role and your knowledge,
skills and experience. 

  

	3.2	You shall exercise your powers in your role as a non-executive director having regard to relevant obligations under prevailing law and regulation, including the Companies Act 2006, U.S. securities laws and the listing
standards of The NASDAQ Stock Market. In addition to complying with the Company’s Articles, Code of Conduct, Corporate Governance Guidelines, and other applicable Company policies, you shall have particular regard to the general duties of
directors in Part 10 of the Companies Act 2006, including the duty to promote the success of the Company under which all directors must act in the way they consider, in good faith, would be most likely to promote the success of the Company for the
benefit of its members as a whole. 

  

	3.3	Unless the Board specifically authorises you to do so, you shall not enter into any legal or other commitment or contract on behalf of the Company. 

 

	3.4	You shall be entitled to request all relevant information about the Company’s affairs as is reasonably necessary to enable you to discharge your responsibilities as a non-executive director. 

 

	4.	[FEES AND] EXPENSES 

 [You shall be compensated for your services as a non-executive
director in accordance with the Board of Directors remuneration policy, as such policy may be amended from time to time by the Board.] Expenses incurred in connection with the performance of your duties as a director, including but not limited to
reasonable travel expenses, shall be reimbursed by the Company in accordance with reimbursement policies as adopted by the Board from time to time. 

  
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	5.	OUTSIDE INTERESTS 

  

	5.1	You have already disclosed to the Board the significant commitments you have outside your role in the Company. You must inform the [chairman][chief executive officer] in advance of any changes to these commitments. You
must seek the Board’s agreement before accepting further commitments which might (a) give rise to a conflict of interest, (b) conflict with any of your duties to the Company, or (c) affect the time that you are able to devote to
your role at the Company. 

  

	5.2	It is accepted and acknowledged that you have business interests other than those of the Company and have declared any conflicts that are apparent at present. If you become aware of any further potential or actual
conflicts of interest, these should be disclosed to the [chairman][chief executive officer] and company secretary as soon as you become aware of them. The Board retains full discretion to determine whether the identified conflict is material and to
take action with respect to such conflict as appropriate. 

  

	6.	CONFIDENTIALITY 

  

	6.1	You acknowledge that all information acquired during your appointment is confidential to the Company and should not be released, communicated or disclosed to third parties or used for any reason other than in the
interests of the Company, either during your appointment or following termination (by whatever means), without prior clearance from the [chairman][chief executive officer]. This restriction shall cease to apply to any confidential information which
may (other than by reason of your breach) become available to the public generally. 

  

	6.2	You acknowledge the need to hold and retain Company information (in whatever format you may receive it) under appropriately secure conditions. 

 

	6.3	Nothing in this paragraph 6 shall prevent you from disclosing information which you are entitled to disclose under the Public Interest Disclosure Act 1998, provided that the disclosure is made in accordance with the
provisions of that Act and you have complied with the Company’s policy from time to time in force regarding such disclosures. 

  

	7.	INSIDE INFORMATION AND DEALING IN THE COMPANY’S SHARES 

 You will at all times
comply with all laws, rules and regulations relating to the disclosure and use of inside information, including applicable U.S. Securities Laws. You will also comply with the Company’s Insider Trading Policy, as it may be amended from time to
time. You should avoid making any statements that might risk a breach of these requirements. If in doubt, please contact the [chairman][chief executive officer] or General Counsel. 

 

	8.	CHANGES TO PERSONAL DETAILS 

 You shall advise the company secretary promptly of any
change in your address or other personal contact details. 
  

	9.	RETURN OF PROPERTY 

 On termination of your appointment with the Company however arising,
or at any time at the Board’s request, you shall immediately return to the Company all documents, records, papers or other property belonging to the Company or any 

  
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company in the Company’s group which may be in your possession or under your control, and which relate in any way to the Company’s or a group company’s business affairs and you
shall not retain any copies thereof. 
  

	10.	MORAL RIGHTS 

 You hereby irrevocably waive any moral rights in all works prepared by
you, in the provision of your services to the Company, to which you are now or may at any future time be entitled under Chapter IV of the Copyright Designs and Patents Act 1988 or any similar provisions of law in any jurisdiction, including (but
without limitation) the right to be identified, the right of integrity and the right against false attribution, and agree not to institute, support, maintain or permit any action or claim to the effect that any treatment, exploitation or use of such
works or other materials, infringes your moral rights. 
  

	11.	DATA PROTECTION 

  

	11.1	By signing this letter you irrevocably consent to the Company holding and processing data about you for legal, personnel, administrative and management purposes and in particular to the processing of any sensitive
personal data (as defined in the Data Protection Act 1998) relating to you. 

  

	11.2	You further consent to: (i) the Company making such information available to any of its group companies, those who provide products or services to the Company or any company in the Company’s group (such as
advisers and payroll administrators), regulatory authorities, potential or future employers, governmental or quasi-governmental organisations and potential purchasers of the Company its business; and (ii) the transfer of such information to the
Company’s or any group company’s business contacts outside the European Economic Area. 

  

	11.3	You shall comply with the Company’s data protection policy, a copy of which is available from the Company’s Chief Privacy Officer. 

 

	11.4	The Company may change its data protection policy at any time and will notify you in writing of any changes. 

  

	12.	THIRD PARTY RIGHTS 

 No one other than you and the Company shall have any rights to
enforce the terms of this letter. 
  

	13.	ENTIRE AGREEMENT 

  

	13.1	This letter and any document referred to in it constitutes the entire terms and conditions of your appointment and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations
and understandings between you and the Company, whether written or oral, relating to its subject matter. 

  

	13.2	You agree that you shall have no remedies in respect of any representation, assurance or warranty (whether made innocently or negligently) that is not set out in this letter and you shall not have any claim for innocent
or negligent misrepresentation or negligent misstatement based on any statement in this letter. 

  
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	14.	AMENDMENT 

 No amendment of this letter shall be effective unless it is in writing and
signed by you and the Company (or respective authorised representatives). 
  

	15.	GOVERNING LAW AND JURISDICTION 

 Your appointment with the Company and any dispute or
claim arising out of or in connection with it or its subject matter or formation (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 non-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). 
 Please indicate your acceptance of these terms by signing and returning the attached copy of this letter to Elizabeth M. Keiley, Associate
General Counsel. 
  

	
	Yours sincerely
	
	                                      
                                         
                 
	
	For and on behalf of Oxford Immunotec Global PLC

 I confirm and agree to the terms of my appointment as a non-executive director of Oxford Immunotec Global PLC as set out in
this letter. 
  

	
	Signed on [DATE] by [NON-EXECUTIVE DIRECTOR]
	
	                                      
                                         
                 .

  
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