Document:

BLACK DIAMOND, INC.

2015 STOCK INCENTIVE PLAN

STOCK AWARD AGREEMENT

 

 

STOCK AWARD AGREEMENT
(the “Agreement”) made as of this «numberdate» day of «month», «year»,
by and between Black Diamond, Inc., a Delaware corporation, having its principal office at 2084 East 3900 South, Salt Lake City,
Utah 84124 (the “Company”), and «FirstName» «LastName», an individual residing in «citystate»
(the “Recipient”). Capitalized terms not defined herein shall have the meanings ascribed to them in the Company’s
2015 Stock Incentive Plan.

 

WHEREAS, the Company
has heretofore adopted the Black Diamond, Inc. 2015 Stock Incentive Plan (the “Plan”) for the benefit of certain employees,
officers, directors, consultants, independent contractors and advisors of the Company or Subsidiaries of the Company, which Plan
has been approved by the Company’s stockholders; and the Recipient is a valued and trusted «employee / director»
 of the Company and/or one of its subsidiaries; and

 

WHEREAS, the Company
believes it to be in the best interests of the Company to secure the future services of the Recipient by providing the Recipient
with an inducement to remain an «employee / director» of the Company and/or one of its Subsidiaries through
the grant of a stock grant in the Company.

 

NOW, THEREFORE,
the parties agree as follows:

 

1.   Stock
Award. Subject to the provisions hereinafter set forth and the terms and conditions of the Plan, the Company hereby grants
to the Recipient, as of «grantdate» (the “Grant Date”), a stock award, subject to the vesting schedule
set forth below, of up to an aggregate of  «amountofshares»
shares (the “Grant Shares”) of common stock of the Company, par value $0.0001 per share (the “Common Stock”),
such number being subject to adjustment as provided in the Plan. As more fully described below, the Grant Shares granted hereby
are subject to forfeiture by the Recipient if certain criteria are not satisfied. 

 

2.   Vesting.

 

(a)   The Grant Shares
shall vest and become non-forfeitable in accordance with the following schedule:

 

	 	Earned Portion of
	Vesting Date	Grant Shares
	 	 
	«Vestingdate1»	«shares1»
	«Vestingdate2»	«shares2»
	«Vestingdate3»	«shares3»
	«Vestingdate4»	«Shares4»
	«Vestingdate5»	«Shares5»

 

     

     

    

 

(b)   Notwithstanding
the vesting schedule set forth above, such vesting schedule may be accelerated by the Board of Directors or the Compensation Committee
of the Board of Directors (the “Committee”) in their sole decision.

 

(c)   Upon the vesting
date the earned portion of the Grant Shares shall be issued to the Recipient in accordance with the Plan and the terms hereof including
Section 3 below.

 

(d)
   If the Recipient is terminated by the Company or its Subsidiaries for Cause (as defined in the Plan), voluntarily terminates
employment by the Company or its Subsidiaries or if Recipient’s service to the Company is Terminated because of death or
Disability of Recipient, prior to the satisfaction of the vesting provisions
set forth above, no further portion of the Grant Shares shall become vested pursuant to this Agreement and such unvested Grant
Shares shall be forfeited effective as of the date that the Recipient ceases to be so employed by the Company.

 

(e)   Nothing in the
Plan or this Agreement shall confer on Recipient any right to continue in the employ of, or other relationship with, the Company
or any Subsidiary of the Company, or limit in any way the right of the Company or any Affiliate or Subsidiary of the Company to
terminate Recipient’s employment or other relationship at any time, with or without Cause. This Agreement does not constitute
an employment contract. This Agreement does not guarantee employment for the length of time of the vesting schedule set forth above
or for any portion thereof.

 

(f)   Recipient
understands that Recipient may suffer adverse tax consequences as a result of the grant, vesting or disposition of the Grant Shares.
Recipient represents that Recipient has consulted with his or her own independent tax consultant(s) as Recipient deems advisable
in connection with the grant, vesting or disposition of the Grant Shares and that Recipient is not relying on the Company for
any tax advice. 

 

3.   Issuance and Withholding.

 

(a)   Upon vesting,
the Company shall issue the earned Grant Shares registered in the name of Recipient, Recipient’s authorized assignee, or
Recipient’s legal representative, and shall deliver certificates representing the Grant Shares.

 

(b)   Subject to Section
16 below, prior to the issuance of the Grant Shares, Recipient must pay or provide for any applicable federal or state withholding
obligations of the Company.

 

4.   Compliance With Laws
and Regulations. The issuance and transfer of Grant Shares shall be subject to compliance by the Company and Recipient
with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange
or quotation system on which the Company’s Common Stock may be listed at the time of such issuance or transfer

 

5.   Non-transferability.
Until the Grant Shares shall be vested and issued and until the satisfaction of any and all other conditions specified herein,
the Grant Shares may not be sold, transferred, assigned, pledged or otherwise encumbered or disposed of by the Recipient, other
than by will or by the laws of descent and distribution, except upon the written consent of the Company and, in any case, in compliance
with the terms and conditions of this Agreement. The terms of this stock award shall be binding upon the executors, administrators,
successors and assigns of Recipient.

 

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6.   Privileges of Stock
Ownership. Recipient shall not have any of the rights of a stockholder with respect to any Grant Shares until the Grant
Shares are issued to Recipient.

 

7.   Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by Recipient or the Company to the Committee
for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Recipient.

 

8.   Entire Agreement.
The Plan is incorporated herein by reference. This Agreement and the Plan constitute the entire agreement and understanding
of the parties hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect
to such subject matter.

 

9.   Notices. Any
notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing and addressed to
the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Recipient
shall be in writing and addressed to Recipient at the address indicated above or to such other address as such party may designate
in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: personal delivery;
three (3) days after deposit in the United States mail by certified or registered mail (return receipt requested); one (1) business
day after deposit with any return receipt express courier (prepaid); or one (1) business day after transmission by facsimile.

 

10.   Successors and Assigns.
The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and inure to the benefit
of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be
binding upon Recipient and Recipient’s heirs, executors, administrators, legal representatives, successors and assigns.

 

11.   Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, applicable to agreements
made and to be performed entirely within such state, other than conflict of laws principles thereof directing the application of
any law other than that of Delaware.

 

12.   Acceptance. Recipient
hereby acknowledges receipt of a copy of the Plan and this Agreement. Recipient has read and understands the terms and
provisions thereof, and accepts this stock award subject to all the terms and conditions of the Plan and this Agreement.
Recipient acknowledges that there may be adverse tax consequences upon the grant or the vesting of this stock award, issuance
or disposition of the Grant Shares and that the Company has advised Recipient to consult a tax advisor regarding the tax
consequences of the grant, vesting, issuance or disposition.

 

13.   Covenants of the Recipient
The Recipient agrees (and for any heir, executor, administrator, legal representative, successor, or assignee hereby agrees), as
a condition upon the grant of the stock award hereunder:

 

(a)   Upon the request
of the Committee, to execute and deliver a certificate, in form satisfactory to the Committee, certifying that the Grant Shares
being acquired pursuant to the vesting provisions set forth above
are for such person’s own account for investment only and not with any view to or present intention to resell or distribute
the same. The Recipient hereby agrees that the Company shall have no obligation to deliver the Grant Shares unless and until such
certificate shall be executed and delivered to the Company by the Recipient or any successor.

 

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(b)   Upon the request
of the Committee, to execute and deliver a certificate, in form satisfactory to the Committee, certifying that any subsequent resale
or distribution of the Grant Shares by the Recipient shall be made only pursuant to either (i) a Registration Statement on an appropriate
form under the Securities Act of 1933, as amended (the “Securities Act”), which Registration Statement has become effective
and is current with regard to the Grant Shares being sold, or (ii) a specific exemption from the registration requirements of the
Securities Act, but in claiming such exemption the Recipient shall, prior to any offer of sale or sale of such Grant Shares, obtain
a prior favorable written opinion of counsel, in form and substance satisfactory to counsel for the Company, as to the application
of such exemption thereto. The foregoing restriction contained in this subparagraph (b) shall not apply to (i) issuances by the
Company so long as the Grant Shares being issued are registered under the Securities Act and a prospectus in respect thereof is
current, or (ii) re-offerings of the Grant Shares by Affiliates of the Company (as defined in Rule 405 or any successor rule or
regulation promulgated under the Securities Act) if the Grant Shares being re-offered are registered under the Securities Act and
a prospectus in respect thereof is current.

 

(c)   That certificates
evidencing Grant Shares being acquired pursuant to the vesting schedule
set forth above shall bear a legend, in form satisfactory to counsel for the Company, manifesting the investment intent
and resale restrictions of the Recipient described in this Section.

 

(d)   That upon vesting
of the Grant Shares pursuant to the vesting provisions set forth above,
or upon sale of the Grant Shares, as the case may be, the Company shall have the right to require the Recipient to remit to the
Company, or in lieu thereof, the Company may deduct, an amount of shares or cash sufficient to satisfy federal, state or local
withholding tax requirements, if any, prior to the delivery of any certificate for such Grant Shares or thereafter, as appropriate.

 

14.   Obligations of the
Company

  

(a)   Notwithstanding
anything to the contrary contained herein, neither the Company nor its transfer agent shall be required to issue any fraction of
a share of Common Stock, and the Company shall issue the largest number of whole Grant Shares of Common Stock to which Recipient
is entitled and shall return to the Recipient the amount of any unissued fractional share in cash.

  

(b)   The Company may
endorse such legend or legends upon the certificates for Grant Shares issued to the Recipient pursuant to the Plan and may issue
such “stop transfer” instructions to its transfer agent in respect of such Grant Shares as, in its discretion, it determines
to be necessary or appropriate to: (i) prevent a violation of, or to perfect an exemption from, the registration requirements of
the Securities Act; or (ii) implement the provisions of the Plan and any agreement between the Company and the Recipient or grantee
with respect to such Grant Shares.

  

(c)   The Company shall
pay all issue or transfer taxes with respect to the issuance or transfer of
Grant Shares to Recipient, as well as all fees and expenses necessarily incurred by the Company in connection with such issuance
or transfer.

  

(d)   All Grant Shares
issued following vesting shall be fully paid and non-assessable to the extent permitted by law.

 

    	 	4	 

     

    

 

 

15.   No Section 83(b) Election.
Recipient shall not file an election with the Internal Revenue Service under Section 83(b).

 

16.   Withholding Taxes.
The Recipient acknowledges that the Company is not responsible for the tax consequences to the Recipient of the granting, vesting
or issuance of the Grant Shares, and that it is the responsibility of the Recipient to consult with the Recipient’s personal
tax advisor regarding all matters with respect to the tax consequences of the granting, vesting and issuance of the Grant Shares.
The Company shall have the right to deduct from the Grant Shares or any payment to be made with respect to the Grant Shares any
amount that federal, state, local or foreign tax law requires to be withheld with respect to the Grant Shares or any such payment.
Alternatively, the Company may require that the Recipient, prior to or simultaneously with the Company incurring any obligation
to withhold any such amount, pay such amount to the Company in cash or in shares of the Company’s Common Stock (including
shares of Common Stock retained from the stock award creating the tax obligation), which shall be valued at the Fair Market Value
of such shares on the date of such payment. In any case where it is determined that taxes are required to be withheld in connection
with the issuance, transfer or delivery of the shares, the Company may reduce the number of shares so issued, transferred or delivered
by such number of shares as the Company may deem appropriate to comply with such withholding. The Company may also impose such
conditions on the payment of any withholding obligations as may be required to satisfy applicable regulatory requirements under
the Exchange Act, if any.

 

17.   Miscellaneous

 

(a)   If the Recipient
loses this Agreement representing the stock award granted hereunder, or if this Agreement is stolen,
damaged or destroyed, the Company shall, subject to such reasonable terms as to indemnity as the Committee, in its sole discretion
shall require, replace the Agreement. 

 

(b)   This Agreement
cannot be amended, supplemented or changed, and no provision hereof can be waived, except by a written instrument making specific
reference to this Agreement and signed by the party against whom enforcement of any such amendment, supplement, modification or
waiver is sought. A waiver of any right derived hereunder by the Recipient shall not be deemed a waiver of any other right derived
hereunder.

 

(c)   This Agreement
may be executed in any number of counterparts, but all counterparts will together constitute but one agreement.

 

(d)   In the event of
a conflict between the terms and conditions of this Agreement and the Plan, the terms and conditions of the Plan shall govern.
All capitalized terms used herein but not defined shall have the meanings given to such terms in the Plan.

 

(e)   All
Grant Shares and benefits provided under this Agreement shall be subject to any compensation recovery or clawback policy
as required under applicable law, rule or regulation or otherwise adopted by the Company from time to time.

 

(Signature Page Follows)

 

    	 	5	 

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Agreement to be executed in duplicate by its duly authorized representative and Recipient has executed
this Agreement in duplicate as of the Date of Grant.

 

 

	BLACK DIAMOND, INC.
	 	 
	 	 
	By:	 
	 	Name:
	 	Title:
	 	 
	 	 
	RECIPIENT
	 	 
	By: 	 
	 	«FirstName» «LastName»

 

    	 	6Exhibit 10.1

 

Nektar
Therapeutics

2012
Performance Incentive Plan

 

Stock
Option Agreement

(US
Optionholders)

 

Pursuant to the Stock
Option Grant Notice, which may be in such form (including electronic form) as prescribed by the Administrator from time to time
(“Option Notice”), and this Stock Option Agreement, Nektar Therapeutics (the “Company”)
has granted to you, as of the date of grant specified in the Option Notice (the “Date of Grant”), an
option under its 2012 Performance Incentive Plan (the “Plan”) to purchase the number of shares of the
Company’s Common Stock indicated in the Option Notice at the exercise price indicated in the Option Notice. Defined terms
not explicitly defined in this Stock Option Agreement but defined in the Plan shall have the same definitions as in the Plan.

 

The details of your
option are as follows:

 

1.           Vesting.
Subject to the limitations contained herein, your option will vest as provided in the Option Notice, provided that vesting will
cease upon the termination of your continuous employment or service with the Company or any of its Subsidiaries (your “Continuous
Service”). Notwithstanding the foregoing, in the event your Continuous Service is terminated as a result of your
death, your option shall become fully vested and exercisable as of the date of such termination.

 

2.           Number
of Shares and Exercise Price. The number of shares subject to your option and your exercise price per share referenced
in the Option Notice may be adjusted from time to time for capitalization adjustments, as provided in the Plan.

 

3.           Exercise
Restriction for Non-Exempt Employees. If you are an employee eligible for overtime compensation under the Fair Labor
Standards Act of 1938, as amended (i.e., a “Non-Exempt Employee”), you may not exercise your option
until at least six (6) months following the Date of Grant, notwithstanding any other provision of your option.

 

4.           Method
of Payment. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect
to make payment of the exercise price in one or more of the following forms:

 

(a)          In
cash or by check;

 

(b)          Provided
that at the time of exercise the Common Stock is publicly traded on a nationally recognized stock exchange, and subject to such
procedures as the Administrator may adopt, in cash by a broker-dealer acceptable to the Company to whom you have submitted an irrevocable
notice of exercise; or

 

    	 	1	 

     

    

 

(c)         
(i) by delivery of already-owned shares of Common Stock and that are valued at fair market value on the date of exercise (as determined
under the Plan), or (ii) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair
market value on the exercise date, as determined under the Plan) pursuant to the exercise of the option. “Delivery”
for these purposes and for purposes of any Required Tax Payments, in the sole discretion of the Company at the time your option
is exercised, shall include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved
by the Company. Notwithstanding the foregoing, your option may not be exercised by tender to the Company of Common Stock to the
extent such tender would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption
of the Company’s stock.

 

5.           Securities
Law Compliance. Notwithstanding anything to the contrary contained herein, your option may not be exercised unless the
shares issuable upon exercise of your option are then registered under the Securities Act or, if such shares are not then so registered,
the Company has determined that such exercise and issuance would be exempt from the registration requirements of the Securities
Act. The exercise of your option must also comply with other applicable laws and regulations governing the option, and the option
may not be exercised if the Company determines that the exercise would not be in material compliance with such laws and regulations.

 

6.           Execution
of Documents. You hereby acknowledge and agree that the manner selected by the Company by which you indicate your consent
to your Grant Notice is also deemed to be your execution of your Grant Notice and of this Agreement. You further agree that such
manner of indicating consent may be relied upon as your signature for establishing your execution of any documents to be executed
in the future in connection with your Award. This Agreement shall be deemed to be signed by the Company and you upon the respective
signing by the Company and you of the Grant Notice to which it is attached.

 

7.           Term.
The term of your option commences on the Date of Grant and expires upon the earliest of the following:

 

(a)          three
(3) months after the termination of your Continuous Service for any reason other than death or Disability, provided that (i) if
during any part of such three (3)-month period the option is not exercisable solely because of the condition set forth in Section
5, the option shall not expire until the earlier of the Expiration Date indicated on the Option Notice or until it shall have been
exercisable for an aggregate period of three (3) months after the termination of your Continuous Service, and (ii) if (x) you are
a Non-Exempt Employee, (y) you terminate your Continuous Service within six (6) months after the Date of Grant specified in your
Option Notice, and (z) you have vested in a portion of your option at the time of your termination of Continuous Service, your
option shall not expire until the earlier of (A) the later of the date that is seven (7) months after the Date of Grant specified
in your Option Notice or the date that is three (3) months after the termination of your Continuous Service or (B) the Expiration
Date;

 

    	 	2	 

     

    

  

(b)          twelve
(12) months after the termination of your Continuous Service due to Disability;

 

(c)          eighteen
(18) months after your death if (i) your Continuous Service terminates due to death or (ii) your death occurs within three (3)
months after your Continuous Service terminates for a reason other than death; or

 

(d)          the
Expiration Date indicated in the Option Notice (which shall not be later than the eighth (8th) anniversary of the Date of Grant).

 

For purposes of the option,
“Disability” means a “permanent and total disability” within the meaning of Section 22(e)(3)
of the Code.         

 

Note, if you are a US
taxpayer and your option is an incentive stock option, to obtain the federal income tax advantages associated with an “incentive
stock option,” the Code requires that at all times beginning on the Date of Grant of your option and ending on the day three
(3) months before the date of your option’s exercise, you must be an employee of the Company or a Subsidiary, except in the
event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances
for your benefit but cannot guarantee that your option will necessarily be treated as an “incentive stock option” if
you continue to provide services to the Company or a Subsidiary as a consultant or director after your employment terminates or
if you otherwise exercise your option more than three (3) months after the date your employment terminates.

 

8.           Exercise.

 

(a)          You
may exercise the vested portion of your option during its term by delivering a Notice of Exercise (in a form designated by the
Company), or by completion of such other exercise procedures as may be prescribed by the Administrator from time to time, and payment
of the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business
hours, together with such additional documents as the Company may then require.

 

(b)          By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to arrange for
the payment to the Company of any required tax withholding in connection with such exercise as described in Section 11 below.

 

(c)          If
your option is an incentive stock option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock acquired upon exercise of your option
that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Common Stock are
transferred upon exercise of your option.

 

9.           Transferability.
Your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life
only by you.

 

    	 	3	 

     

    

 

10.         Option
not a Service Contract. Your option is not an employment or service contract, and nothing in your option shall be deemed
to create in any way whatsoever any obligation on your part to continue in the employ or service of the Company or a Subsidiary,
or of the Company or a Subsidiary to continue your employment or service. In addition, nothing in your option shall obligate the
Company or any Subsidiary, their respective shareholders, boards of directors, officers or employees to continue any relationship
that you might have as an employee, director or consultant for the Company or any Subsidiary.

 

11.         Tax
Obligations. 

 

(a)     You are responsible
for satisfaction of all federal, state, local and foreign tax withholding obligations of the Company and its Subsidiaries, if any,
which arise in connection with the option (the “Required Tax Payments”), including, without limitation,
obligations arising upon (i) the exercise, in whole or in part, of the option, (ii) the transfer, in whole or in part, of any shares
acquired upon exercise of the option, (iii) the operation of any law or regulation providing for the imputation of interest, or
(iv) the lapsing of any restriction with respect to any shares acquired upon exercise of the option. No shares of Common Stock
will be issued until the Company has received a definitive agreement or other documentation satisfactory to the Company, in its
sole discretion, that all Required Tax Payments have been or will be satisfied by you. Regardless of whether the Company properly
withholds the full amount of such Required Tax Payments, you hereby acknowledge and agree that that all obligations with respect
to the Required Tax Payments shall transfer in their entirety from the Company to you and that such liability shall be ultimately
your responsibility and liability.

 

(b)     You may elect
to make payment of the Required Tax Payments in one or more of the following forms:

 

(i) In
cash or by check;

 

(ii) Provided that at
the time of exercise the Common Stock is publicly traded on a nationally recognized stock exchange, and subject to such procedures
as the Administrator may adopt, in cash by a broker-dealer acceptable to the Company to whom you have submitted an irrevocable
notice of exercise; or

 

(iii) (x) by delivery
of already-owned shares of Common Stock and that are valued at fair market value on the date of exercise (as determined under the
Plan), or (y) a reduction in the number of shares of Common Stock otherwise deliverable to you (valued at their fair market value
on the exercise date, as determined under the Plan) pursuant to the exercise of the option. Shares of Common Stock to be delivered
or withheld may not have a Fair Market Value in excess of the minimum amount of the Required Tax Payments. Any fraction of a share
of Common Stock which would be required to satisfy any such obligation shall be disregarded and the remaining amount due shall
be paid in cash by you.

 

(c)     You hereby
acknowledge that you understand that you may suffer adverse tax consequences as a result of the exercise of the option or disposition
of the shares. You hereby represent that you have consulted with any tax consultants the you deem advisable in connection with
the exercise of the option or disposition of the shares and that you are not relying on the Company for any tax advice.

 

    	 	4	 

     

    

 

12.         Employment
Conditions. In accepting the option, you acknowledge that:

 

(a)       Any notice
period mandated under any applicable laws shall not be treated as service for the purpose of determining the vesting of the option;
and your right to receive shares of Common Stock in settlement of the option after termination as an employee, if any, will be
measured by the date of your termination as an employee and will not be extended by any notice period mandated under the applicable
law. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether your
status as an employee or other service-provider has terminated and the effective date of such termination.

 

(b)       The
vesting of the option shall cease upon, and no portion of the option shall become vested following, your termination as an employee
or other service-provider for any reason except as may be explicitly provided by the Plan or this Stock Option Agreement. Unless
otherwise provided in the Plan or this Stock Option Agreement, the unvested portion of the option at the time of your termination
as an employee or other service-provider will be forfeited.

 

(c)      The
Plan is established voluntarily by the Company. It is discretionary in nature and it may be modified, amended, suspended or terminated
by the Company at any time, subject to Section 8.6.5 of the Plan.

 

(d)       The grant
of the option is voluntary and occasional and does not create any contractual or other right to receive future grants of options,
or benefits in lieu of options, even if options have been granted repeatedly in the past.

 

(e)       All
decisions with respect to future option grants, if any, will be at the sole discretion of the Company.

 

(f)       You are voluntarily
participating in the Plan.

 

(g)       The option
is an extraordinary item that does not constitute compensation of any kind for service rendered to the Company (or any Subsidiary),
and which is outside the scope of your employment contract, if any. In addition, the option is not part of normal or expected
compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy,
end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

 

(h)       The future
value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty. If you obtain shares upon settlement
of the option, the value of those shares may increase or decrease.

 

(i)       No claim or
entitlement to compensation or damages arises from termination of the option or diminution in value of the option or shares of
Common Stock acquired upon settlement of the option resulting from your termination of employment or service (for any reason whether
or not in breach of the local law) and you irrevocably release the Company and each Subsidiary from any such claim that may arise.
If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by signing
this Stock Option Agreement, you shall be deemed irrevocably to have waived your entitlement to pursue such a claim.

 

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13.         General
Provisions.

 

(a)          Successors
and Assigns. Except as provided herein to the contrary, this Stock Option Agreement shall be binding upon and inure to the
benefit of the parties to this Stock Option Agreement, their respective successors and permitted assigns.

 

(b)          No
Assignment. Except as otherwise provided in this Stock Option Agreement, you shall not assign any of your rights and obligations
under this Stock Option Agreement without the prior written consent of the Company, which consent may be withheld in its sole discretion.
The Company shall be permitted to assign its rights or obligations under this Stock Option Agreement, but no such assignment shall
release the Company of any obligations pursuant to this Stock Option Agreement.

 

(c)          Severability.
The validity, legality or enforceability of the remainder of this Stock Option Agreement shall not be affected even if one or more
of the provisions of this Stock Option Agreement shall be held to be invalid, illegal or unenforceable in any respect.

 

(d)          Administration.
Any determination by the Administrator in connection with any question or issue arising under the Plan or this Stock Option Agreement
shall be final, conclusive, and binding on you, the Company, and all other persons.

 

(e)          Headings.
The section headings in this Stock Option Agreement are inserted only as a matter of convenience, and in no way define, limit or
interpret the scope of this Stock Option Agreement or of any particular section.

 

(f)          Delivery
of Documents and Notices. Any document relating to participation in the Plan, or any notice required or permitted hereunder
shall be given in writing and shall be deemed effectively given (except to the extent that this Stock Option Agreement provides
for effectiveness only upon actual receipt of such notice) upon personal delivery through electronic delivery at the e-mail address,
if any, provided for you by the Company, or, upon deposit in the local postal service, by registered or certified mail, or with
a nationally recognized overnight courier service with postage and fees prepaid, addressed to the other party at the address of
such party set forth in this Stock Option Agreement or at such other address as such party may designate in writing from time to
time to the other party.

 

    	 	6	 

     

    

  

(i)          Description
of Electronic Delivery. The Plan documents, which may include but do not necessarily include: the Plan, the Option
Notice, this Stock Option Agreement, and any reports of the Company provided generally to the Company’s shareholders, may
be delivered to you electronically. In addition, if permitted by the Company, you may deliver electronically this Stock Option
Agreement and Notice of Exercise called for by Section 8(a) to the Company or to such third party involved in administering
the Plan as the Company may designate from time to time. Such means of electronic delivery may include but do not necessarily
include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan,
the delivery of the document via e-mail or such other means of electronic delivery specified by the Company. 

 

(ii)         Consent
to Electronic Delivery. You acknowledge that you have read Section 13(f)(i) of this Stock Option Agreement and consent
to the electronic delivery of the Plan documents and, if permitted by the Company, the delivery of this Stock Option Agreement
and Notice of Exercise, as described in Section 13(f)(i). You acknowledge that you may receive from the Company a paper copy
of any documents delivered electronically at no cost to you by contacting the Company by telephone or in writing. You further acknowledge
that you will be provided with a paper copy of any documents if the attempted electronic delivery of such documents fails. Similarly,
you understand that you must provide the Company or any designated third party administrator with a paper copy of any documents
if the attempted electronic delivery of such documents fails. You may revoke your consent to the electronic delivery of documents
described in Section 13(f)(i) or may change the electronic mail address to which such documents are to be delivered (if you
have provided an electronic mail address) at any time by contacting SOProcessing@nektar.com to notify the Company of such revoked
consent or revised e-mail address by telephone, postal service or electronic mail. Finally, you understand that you are not required
to consent to electronic delivery of documents described in Section 13(f)(i).

  

14.         Governing
Plan Document. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a part
of your option, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be
promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and those of the
Plan, the provisions of the Plan shall control. This Stock Option Agreement is governed by the laws of the State of Delaware.

 

15.         Clawback
Policy. Your option is subject to the terms of the Company’s recoupment, clawback or similar policy as it may
be in effect from time to time, as well as any similar provisions of applicable law, any of which could in certain circumstances
require forfeiture of the option and repayment or forfeiture of any shares of Common Stock or other cash or property received with
respect to the option (including any value received from a disposition of the shares acquired upon exercise of the option).

 

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