Document:

EX-10.10

 EXHIBIT 10.10 
 THIS STOCK OPTION AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS. NEITHER THIS STOCK OPTION NOR THE
COMMON STOCK ISSUABLE UPON EXERCISE HEREOF MAY BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE APPLICABLE SECURITIES UNDER SUCH ACT OR LAWS OR AN OPINION OF COUNSEL FOR THE HOLDER
REASONABLY SATISFACTORY TO THE ISSUER STATING THAT SUCH REGISTRATION IS NOT REQUIRED. 
 CYTODYN INC. 

FORM OF STOCK OPTION AWARD AGREEMENT 
 (FOR EMPLOYEES) 
 This STOCK OPTION AWARD AGREEMENT (this “Option
Agreement”) is made effective as of                     , 201    , by and between CytoDyn Inc., a Colorado
corporation (the “Company”), and              (the “Grantee”). 
 1. Grant of Option. 
 The Company hereby grants to the Grantee an option
(the “Option”) to purchase              shares of Common Stock (the “Shares”) as of
                    , 201     (the “Date of Grant”) at the exercise price per Share of
$             (the “Exercise Price”) subject to the terms and conditions of this Option Agreement. 
 2. Application of Plan Terms. 
 Unless otherwise defined herein, the
capitalized terms in this Option Agreement will have the same defined meanings as set forth in the Company’s 2004 Stock Incentive Plan (“Plan”); provided, however, that the Option is not issued pursuant to the Plan and only certain
provisions of the Plan, as specifically provided in this Option Agreement, apply to the Option and Shares. 
 3. Term.

 The Option will automatically terminate on
                    , 201     (the “Expiration Date”), to the extent not exercised, unless terminated
earlier in accordance with this Option Agreement. After the Expiration Date or such earlier date, the Option shall be of no further force or effect and may not be exercised. 

  
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 4. Exercise of Option. 

(a) Right to Exercise. The Option will become vested and cumulatively exercisable according to the following Vesting Schedule: 

 

							
	  	 	 Percentage of Option

Vested and Exercisable
	 	 Vesting Date
	 	 

 The Option shall be subject to the provisions of Section 11 of
the Plan relating to the exercisability or termination of the Option in the event of a Corporate Transaction or Change in Control. The Grantee shall be subject to reasonable limitations on the number of requested exercises during any monthly or
weekly period as determined by the Administrator. In no event shall the Company issue fractional Shares. 
 (b) Method of
Exercise. The Option shall be exercisable by delivery of an exercise notice (a form of which is attached as Exhibit A), or by such other procedure as specified from time to time by the Administrator, which shall state the election to exercise the
Option, the number of whole Shares in respect of which the Option is being exercised, and such other provisions as may be required by the Administrator. The exercise notice shall be delivered to the Company in person, by certified mail, or by such
other method (including electronic transmission) as determined from time to time by the Administrator accompanied by payment of the Exercise Price and any cash needed to pay the Company’s tax withholding obligation, if any, in accordance with
Section 4(c). The Option shall be deemed to be exercised upon receipt by the Company of such notice accompanied by the Exercise Price and Tax Payment (defined below). 
 (c) Taxes. No portion of the Option may be exercised and no Shares will be delivered to the Grantee or other person pursuant to the exercise of the Option until the Grantee or other person has made
arrangements acceptable to the Administrator for the satisfaction of applicable income tax and tax withholding obligations, if any, including, without limitation, such other tax obligations of the Grantee incident to the receipt of Shares (the
“Tax Payment”). Upon exercise of the Option, the Company may offset or withhold (from any amount owed by the Company to the Grantee) or collect from the Grantee or other person an amount sufficient to satisfy such Tax Payment obligation.

 The Grantee understands that the Grantee may suffer adverse tax consequences as a result of the Grantee’s purchase or
disposition of the Shares. The Grantee represents that the Grantee has consulted with any tax consultants the Grantee deems advisable in connection with the purchase or disposition of the Shares and that the Grantee is not relying on the Company for
any tax advice. 

  
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 5. Method of Payment. 

Payment of the Exercise Price shall made by wire transfer or by delivering a certified or cashier’s check in the amount of the
Aggregate Purchase Price as specified in the exercise notice to the Company. 
 6. Restrictions on Exercise. 

The Option may not be exercised if the issuance of the Shares subject to the Option upon such exercise would constitute a violation of any
Applicable Laws. If the exercise of the Option within the time periods set forth in Sections 7 and 8 of this Option Agreement is prevented by the provisions of this Section 6, the Option shall remain exercisable until one month after the date
the Grantee is notified by the Company that the Option is exercisable, but in any event no later than the Expiration Date. 
 7.
Termination or Change of Continuous Service. 
 In the event the Grantee’s Continuous Service terminates, other than
for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period shall
commence on the Termination Date and continue for a period of 90 days thereafter. In the event of termination of the Grantee’s Continuous Service for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined
by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date. 

In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or
Consultant, the Option shall remain in effect. In the event of the Grantee’s change in status from Employee to Director or Consultant, vesting of the Option shall continue only to the extent determined by the Administrator as of such change in
status. Except as provided in Section 8 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option
shall terminate. 
 8. Death of Grantee. 
 In the event of the Grantee’s death, the person who acquires the right to exercise the Option pursuant to will or the laws of descent and distribution may exercise the portion of the Option that was
vested on the date of death within 12 months commencing on the date of death (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of death, or if the vested portion of the Option is not exercised
within the time specified herein, the Option shall terminate. 
 9. Transferability of Option. 

The Option may not be transferred in any manner other than by will or by the laws of descent and distribution; provided, however, that the
Option may be transferred during the lifetime of the Grantee pursuant to a domestic relations order or by gift to the Grantee’s Immediate Family to the extent and in the manner determined by the Administrator. 

  
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 Notwithstanding the foregoing, the Grantee may designate one or more beneficiaries of the Grantee. The terms
of the Option shall be binding upon the executors, administrators, heirs, successors and transferees of the Grantee. 
 10.
Securities Act Compliance. 
 Unless the Shares are no longer subject to Rule 144 under the Securities Act, the Company
may place conspicuously upon each certificate representing the Shares a legend substantially in the following form, the terms of which are agreed to by the Grantee: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES ACT OF ANY STATE. THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE
SOLD, TRANSFERRED FOR VALUE, PLEDGED, HYPOTHECATED, OR OTHERWISE ENCUMBERED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION OF THEM UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES ACT OF ANY STATE OR AN APPLICABLE EXEMPTION FROM REGISTRATION UNDER
SUCH ACT OR ACTS. 
 11. Entire Agreement; Governing Law. 

This Option Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior
undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company and the Grantee. Nothing in
this Option Agreement (except as expressly provided therein) is intended to confer any rights or remedies on any persons other than the parties. This Option Agreement is to be construed in accordance with and governed by the internal laws of the
State of Oregon without giving effect to choice of law rules. Should any provision of this Option Agreement be determined to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions
shall nevertheless remain effective and shall remain enforceable. 
 12. Rights as Shareholder. 

Until the stock certificate representing the Shares is issued, no right to vote or receive dividends or any other rights as a shareholder
shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other
right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. 
 13. Adjustments upon Changes in Capitalization. 
 The Option shall be
subject to the provisions of Section 10 of the Plan relating to adjustments upon changes in capitalization and similar corporate events. 

  
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 14. Administration and Interpretation. 

Any question or dispute regarding the administration or interpretation of this Option Agreement shall be submitted by the Grantee or by
the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons. 
 15. Venue and Waiver of Jury Trial. 
 The Company, the Grantee, and the
Grantee’s assignees pursuant to Section 9 (the “parties”) agree that any suit, action, or proceeding arising out of or relating to the Notice or this Option Agreement shall be brought in the United States District Court for the
District of Oregon (or should such court lack jurisdiction to hear such action, suit or proceeding, in an Oregon state court in the County of Multnomah) and that the parties shall submit to the jurisdiction of such court. The parties irrevocably
waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such court. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR MAY HAVE TO A JURY TRIAL OF
ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions of this Section 15 shall for any reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent
necessary to make it or its application valid and enforceable. 
 16. Notices. 

Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (a) upon personal
delivery, (b) one business day after deposit for delivery by a nationally recognized air courier service, (c) three business days after deposit in the United States mail by certified mail (if the parties are within the United States), with
postage and fees prepaid, or (d) on the date of facsimile transmission, with confirmed transmission, addressed to the party to be notified as follows: 
 If to the Company: 
 CytoDyn Inc. 

5 Centerpointe Drive, Suite 400 
 Lake Oswego, Oregon 97035 
 Facsimile: (971) 204-0386 

If to the Grantee: 
 or
such other address as such party may designate by 10 days’ advance written notice to the other party. 
  

							
	CYTODYN INC.	 		 	GRANTEE
				
	By:	 	 	 		 	 
		 		 		 	

  
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 EXHIBIT A 
 CYTODYN INC. 
 EXERCISE NOTICE 

CytoDyn Inc. 
 5 Centerpointe Drive, Suite 400

 Lake Oswego, Oregon 97035 

Telephone: (971) 204-0382 
 Facsimile:
(971) 204-0386 
 Attention: Secretary 
  

					
	Grantee:	 	 	  	
		 	Print Name	  	
			
	Mailing Address:	 	 	  	
			
		 	 	  	
			
		 	 	  	
			
	Telephone Number:	 	 	  	
		
	Option:	 	The option evidenced by a Stock Option Award Agreement dated
		 	                    ,
            .

 OPTION EXERCISE 
 I hereby elect to exercise the Option to purchase shares (“Shares”) of common stock of CytoDyn Inc. covered by the Option as follows: 

 

							
		  	Number of Shares Purchased (a)	  	                             
                 	  	
				
		  	Per-Share Option Price (b)	  	$                             
               	  	
				
		  	Aggregate Purchase Price (a times b)	  	$                             
               	  	
				
		  	Closing Date of Purchase	  	                             
                 	  	

 Instructions: 
 (1) A certified or cashier’s check in the amount of the Aggregate Purchase Price payable to CytoDyn Inc. should be submitted with this Notice. If you wish to pay by wire transfer, please contact
CytoDyn Inc. for instructions. 
 (2) Withholding tax is due immediately upon exercise of a nonqualified stock option by an
employee or former employee. Non-employee directors are not currently subject to withholding. If withholding tax is due at the time of exercise, you will be notified of the amount and satisfactory arrangements must be made for payment before a stock
certificate for your option shares will be delivered to you (or your broker, if applicable). 

 INVESTMENT REPRESENTATIONS 

 

	a.	In connection with the exercise of the Option, I hereby represent and warrant to CytoDyn Inc. as follows: 

 

	 	i.	Purchase Entirely for Own Account. I am acquiring the Shares for my own account for investment and not with a view to the distribution or resale thereof.

  

	 	ii.	Restricted Securities. I understand the Shares may not be sold, transferred, or otherwise disposed of without registration under the Securities Act of 1933 or an
exemption therefrom and, in the absence of an effective registration statement covering the Shares or an available exemption from registration under the Securities Act of 1933, the Shares must be held indefinitely. 

 

	 	iii.	Investment Experience. I am experienced in evaluating and investing in companies in the development stage, can bear the economic risk of an investment in the
Shares, and have enough knowledge and experience in financial and business matters to evaluate the merits and risks of an investment in the Shares. 

  

	 	iv.	Investor Qualifications. I am an Accredited Investor as defined in Rule 501 promulgated under the Securities Act of 1933 or have such knowledge and
experience in financial and business matters that I am capable of evaluating the merits and risks of investing in the Shares. 

  

	 	v.	Opportunity to Review Documents and Ask Questions. CytoDyn Inc. has made available all documents and information that I have requested relating to an
investment in the Shares. In addition, I have had adequate opportunity to ask questions and to receive answers from management regarding CytoDyn Inc.’s business, management, and financial affairs. 

 

	b.	I understand, agree, and recognize that: 

  

	 	i.	No federal or state agency has made any finding or determination as to the fairness of the investment or any recommendation or endorsement of the Shares.

  

	 	ii.	All certificates evidencing the Shares will bear a legend substantially similar to the legend set forth in Section 10 of the Option Agreement regarding resale
restrictions. 

  

	c.	I am a resident of the state of
                                    .

 ISSUANCE INSTRUCTIONS FOR STOCK CERTIFICATES 

Please register the stock certificate(s) in the following name(s): 

 

					
		 	 	  	
			
		 	 	  	
			
		 	 	  	
		
		 	If applicable, please check one:     ̈ JT
TEN     ̈ TEN COM     ̈ Other

 Please deliver the stock certificate(s) to (check one): 

 

					
		
		 	 ̈ My brokerage account

  

					
		 	 	 	
			
		 	 	 	
			
		 	 	 	
			
		 	Attn:                             
                                         
       	 	
			
		 	Account No.:                           
                                     ;	 	or

  

					
		
		 	 ̈ My mailing address set forth above.

  

							
		 	 	 		 	 
		 	Date	 		 	Signature of GranteeEX-10.11

 EXHIBIT 10.11 
 THIS STOCK OPTION AND THE COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS. NEITHER THIS STOCK OPTION NOR THE
COMMON STOCK ISSUABLE UPON EXERCISE HEREOF MAY BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE APPLICABLE SECURITIES UNDER SUCH ACT OR LAWS OR AN OPINION OF COUNSEL FOR THE HOLDER
REASONABLY SATISFACTORY TO THE ISSUER STATING THAT SUCH REGISTRATION IS NOT REQUIRED. 
 CYTODYN INC. 

FORM OF STOCK OPTION AWARD AGREEMENT 
 FOR NON-EMPLOYEE DIRECTORS 
 This STOCK OPTION AWARD AGREEMENT (this
“Option Agreement”) is made                     , 201    , by and between CytoDyn Inc., a Colorado
corporation (the “Company”), and                      (the “Grantee”). 

1. Grant of Option. 
 The Company hereby grants to the Grantee an option (the “Option”) to purchase              shares of Common Stock (the
“Shares”) as of                     , 201     (the “Grant Date”) at the exercise price per
Share of $                     (the “Exercise Price”) subject to the terms and conditions of this Option Agreement. 

2. Application of Plan Terms. 
 Unless otherwise defined herein, the capitalized terms in this Option Agreement will have the same defined meanings as set forth in the Company’s 2004 Stock Incentive Plan (“Plan”);
provided, however, that the Option is not issued pursuant to the Plan and only certain provisions of the Plan, as specifically provided in this Option Agreement, apply to the Option and Shares. 

3. Term. 

The Option will automatically terminate on [five years from Grant Date] (the “Expiration Date”), to the extent not exercised,
unless terminated earlier in accordance with this Option Agreement. After the Expiration Date or such earlier date, the Option shall be of no further force or effect and may not be exercised. 

  
 1 

 4. Exercise of Option. 

(a) Right to Exercise. The Option will become vested and exercisable cumulatively according to the following Vesting Schedule: 

 

			
	 Percentage of Option

Vested and Exercisable
	  	 Vesting Date

	25%	  	3 months from Grant Date
	25%	  	6 months from Grant Date
	25%	  	9 months from Grant Date
	25%	  	12 months from Grant Date

 The Option shall be subject to the provisions of Section 11 of the Plan relating to the
exercisability or termination of the Option in the event of a Corporate Transaction or Change in Control. The Grantee shall be subject to reasonable limitations on the number of requested exercises during any monthly or weekly period as determined
by the Administrator. In no event shall the Company issue fractional Shares. 
 (b) Method of Exercise. The Option shall be
exercisable by delivery of an exercise notice (a form of which is attached as Exhibit A), or by such other procedure as specified from time to time by the Administrator, which shall state the election to exercise the Option, the number of whole
Shares in respect of which the Option is being exercised, and such other provisions as may be required by the Administrator. The exercise notice shall be delivered to the Company in person, by certified mail, or by such other method (including
electronic transmission) as determined from time to time by the Administrator accompanied by payment of the Exercise Price. The Option shall be deemed to be exercised upon receipt by the Company of such notice accompanied by the Exercise Price.

 (c) Taxes. The Grantee understands that the Grantee may suffer adverse tax consequences as a result of the Grantee’s
purchase or disposition of the Shares. The Grantee represents that the Grantee has consulted with any tax consultants the Grantee deems advisable in connection with the purchase or disposition of the Shares and that the Grantee is not relying on the
Company for any tax advice. 
 5. Method of Payment. 

Payment of the Exercise Price shall be made by wire transfer or by delivering a certified or cashier’s check in the amount of the
Aggregate Purchase Price as specified in the exercise notice to the Company. Alternatively, subject to the prior approval of the Administrator, payment of the Exercise Price may be made by delivery of previously owned Shares having a Fair Market
Value equal to the Exercise Price in accordance with the instructions in the exercise notice. 

  
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 6. Restrictions on Exercise. 

The Option may not be exercised if the issuance of the Shares subject to the Option upon such exercise would constitute a violation of any
Applicable Laws. If the exercise of the Option within the time period set forth in Section 7 or 8 of this Option Agreement is prevented by the provisions of this Section 6, the Option shall remain exercisable until one month after the date
the Grantee or the Grantee’s successor is notified by the Company that the Option is exercisable, but in any event no later than the Expiration Date. 
 7. Termination or Change of Continuous Service. 
 In the event the
Grantee’s Continuous Service terminates, other than for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination
Date”). The Post-Termination Exercise Period shall commence on the Termination Date and continue for three months thereafter other than in the case of death, in which case the Post-Termination Exercise Period shall expire 12 months following
the Termination Date. In the event of termination of the Grantee’s Continuous Service for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the
termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date. In the event of the Grantee’s change in status from Director to
any other status of Employee or Consultant, the Option shall remain in effect. In the event of the Grantee’s change in status from Director to Employee or Consultant, vesting of the Option shall continue only to the extent determined by the
Administrator as of such change in status. 
 8. Death of Grantee. 

In the event of the Grantee’s death, the person who acquires the right to exercise the Option pursuant to will or the laws of descent
and distribution may exercise the portion of the Option that was vested on the date of death within 12 months commencing on the date of death (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of
death, or if the vested portion of the Option is not exercised within the time specified herein, the Option shall terminate. 

9. Transferability of Option. 
 The Option may not be transferred in any manner other than by will or by the laws of descent and distribution; provided, however, that the Option may be transferred during the lifetime of the Grantee
pursuant to a domestic relations order or by gift to the Grantee’s Immediate Family to the extent and in the manner determined by the Administrator. Notwithstanding the foregoing, the Grantee may designate one or more beneficiaries of the
Grantee. The terms of the Option shall be binding upon the executors, administrators, heirs, successors and transferees of the Grantee. 
 10. Securities Act Compliance. 
 Unless the Shares are no longer subject to
Rule 144 under the Securities Act, the Company may place conspicuously upon each certificate representing the Shares a legend substantially in the following form, the terms of which are agreed to by the Holder: 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES ACT OF ANY
STATE. THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT 

  
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AND MAY NOT BE SOLD, TRANSFERRED FOR VALUE, PLEDGED, HYPOTHECATED, OR OTHERWISE ENCUMBERED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION OF THEM UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES
ACT OF ANY STATE OR AN APPLICABLE EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR ACTS. 
 11. Entire Agreement: Governing
Law. 
 This Option Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof and
supersedes all prior undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company and the
Grantee. Nothing in this Option Agreement (except as expressly provided therein) is intended to confer any rights or remedies on any persons other than the parties. This Option Agreement is to be construed in accordance with and governed by the
internal laws of the State of Oregon without giving effect to choice of law rules. Should any provision of this Option Agreement be determined to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and
the other provisions shall nevertheless remain effective and shall remain enforceable. 
 12. Rights as Shareholder.

 Until the stock certificate representing the Shares is issued, no right to vote or receive dividends or any other rights as a
shareholder shall exist with respect to the Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend
or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. 
 13. Adjustments upon Changes in Capitalization. 
 The Option shall be
subject to the provisions of Section 10 of the Plan relating to adjustments upon changes in capitalization and similar corporate events. 
 14. Administration and Interpretation. 
 Any question or dispute regarding
the administration or interpretation of this Option Agreement shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons.

 15. Venue and Waiver of Jury Trial. 
 The Company, the Grantee, and the Grantee’s assignees pursuant to Section 9 (the “parties”) agree that any suit, action, or proceeding arising out of or relating to the Notice or this
Option Agreement shall be brought in the United States District Court for the District of Oregon (or should such court lack jurisdiction to hear such action, suit or proceeding, in an Oregon state court in the County of Multnomah) and that the
parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or proceeding brought in such

  
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court. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR MAY HAVE TO A JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions of this Section 14 shall for any
reason be held invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable. 

16. Notices. 
 Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (a) upon personal delivery, (b) one business day after deposit for delivery by a
nationally recognized air courier service, (c) three business days after deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, or (d) on the date of facsimile
transmission, with confirmed transmission, addressed to the party to be notified as follows: 
 If to the Company:

 CytoDyn Inc. 
 5 Centerpointe Drive, Suite 400 
 Lake Oswego, Oregon 97035 

Telephone (971) 204-0382 
 Facsimile: (971) 204-0386 
 Attn: Secretary 

If to the Grantee: 
 or
such other address as such party may designate by 10 days’ advance written notice to the other party. 
  

							
	CYTODYN INC.	 		 	GRANTEE
				
	By:	 	 	 		 	/s/
	Name:	 	 	 		 	
	Title:	 	President and Chief Executive Officer	 		 	Taxpayer ID No.:                         
                                         
                
		 		 		 	E-mail address:                   
                                         
                          
		 		 		 	Telephone:                           
                                         
                        

  
 5 

 EXHIBIT A 
 CYTODYN INC. 
 EXERCISE NOTICE 

CytoDyn Inc. 
 5 Centerpointe Drive, Suite 400

 Lake Oswego, Oregon 97035 
 Telephone
(971) 204-0382 
 Facsimile: (971) 204-0386 
 Attention: Secretary 
  

					
	Grantee:	 	 	  	
		 	Print Name	  	
			
	Mailing Address:	 	 	  	
			
		 	 	  	
			
		 	 	  	
			
	Telephone Number:	 	 	  	
		
	Option:	 	The option evidenced by a Stock Option Award Agreement dated
		 	                    ,
            .

 OPTION EXERCISE 
 I hereby elect to exercise the Option to purchase shares (“Shares”) of common stock of CytoDyn Inc. covered by the Option as follows: 

 

							
		  	Number of Shares Purchased (a)	  	                             
                 	  	
				
		  	Per-Share Option Price (b)	  	$                             
               	  	
				
		  	Aggregate Purchase Price (a times b)	  	$                             
               	  	
				
		  	Closing Date of Purchase	  	                             
                 	  	
				
		  	Form of Payment [Check One]:	  		  	

  ̈         My
check in the full amount of the Aggregate Purchase Price. See “Instructions” below. 
  ̈         Delivery of previously owned shares of CytoDyn common stock with a fair market value equal to the Aggregate Purchase Price. See “Instructions”
below. 

 Instructions: 

(1) A certified or cashier’s check in the amount of the Aggregate Purchase Price payable to CytoDyn Inc. should be submitted
with this Notice. If you wish to pay by wire transfer, please contact CytoDyn Inc. for instructions. 
 (2) If payment is to be
by surrender of previously owned shares or by attestation of ownership (see Attestation Form below), either a certificate for the shares accompanied by a stock power endorsed in blank or the completed Attestation Form should be submitted with this
Notice. If applicable, a certificate for any shares in excess of those needed to satisfy the Aggregate Purchase Price will be returned to you with the certificate for your option shares. Any change in registration between the payment shares and the
new shares will require a properly executed stock power that is guaranteed by an institution participating in a recognized medallion signature guarantee program. 

 INVESTMENT REPRESENTATIONS 

 

	a.	In connection with the exercise of the Option, I hereby represent and warrant to CytoDyn Inc. as follows: 

 

	 	i.	Purchase Entirely for Own Account. I am acquiring the Shares for my own account for investment and not with a view to the distribution or resale thereof.

  

	 	ii.	Restricted Securities. I understand the Shares may not be sold, transferred, or otherwise disposed of without registration under the Securities Act of 1933 or an
exemption therefrom and, in the absence of an effective registration statement covering the Shares or an available exemption from registration under the Securities Act of 1933, the Shares must be held indefinitely. 

 

	 	iii.	Investment Experience. I am experienced in evaluating and investing in companies in the development stage, can bear the economic risk of an investment in the
Shares, and have enough knowledge and experience in financial and business matters to evaluate the merits and risks of an investment in the Shares. 

  

	 	iv.	Investor Qualifications. I am an Accredited Investor as defined in Rule 501 promulgated under the Securities Act of 1933 or have such knowledge and
experience in financial and business matters that I am capable of evaluating the merits and risks of investing in the Shares. 

  

	 	v.	Opportunity to Review Documents and Ask Questions. CytoDyn Inc. has made available all documents and information that I have requested relating to an investment
in the Shares. In addition, I have had adequate opportunity to ask questions and to receive answers from management regarding CytoDyn’s business, management, and financial affairs. 

 

	b.	I understand, agree, and recognize that: 

  

	 	i.	No federal or state agency has made any finding or determination as to the fairness of the investment or any recommendation or endorsement of the Shares.

  

	 	ii.	All certificates evidencing the Shares will bear a legend substantially similar to the legend set forth in Section 9 of the Option Agreement regarding resale
restrictions. 

  

	c.	I am a resident of the state of
                                         
               . 

 ISSUANCE INSTRUCTIONS FOR STOCK CERTIFICATES 

Please register the stock certificate(s) in the following name(s): 

 

					
		 	 	  	
			
		 	 	  	
			
		 	 	  	
		
		 	If applicable, please check one:     ̈ JT
TEN     ̈ TEN COM     ̈ Other

 Please deliver the stock certificate(s) to (check one): 

 

					
		 	 ̈ My brokerage account

  

					
		 	 	 	
			
		 	 	 	
			
		 	 	 	
			
		 	Attn:                             
                                         
       	 	
			
		 	Account No.:                           
                                     ;	 	or

  

					
		 	 ̈ My mailing address set forth above.

  

							
		 	 	 		 	 
		 	Date	 		 	Signature of Grantee

 ATTESTATION FORM 

As indicated above, I have elected to use shares of CytoDyn common stock that I already own to pay the Aggregate Purchase Price of the
Option. 
 I attest to the ownership of the shares represented by the certificate(s) listed below or to the beneficial ownership
of the shares held in the name of my broker, as indicated in the attached copy of my brokerage statement. I will be deemed to have delivered such shares to CytoDyn in connection with the exercise of my Option. 

I understand that, because I (and any joint owner) will retain ownership of the shares (the “Payment Shares”) deemed delivered
to pay the Aggregate Purchase Price, the number of shares to be issued to me upon exercise of my Option will be reduced by the number of Payment Shares. I represent that I have full power to deliver and convey certificates representing the Payment
Shares to CytoDyn and by such delivery and conveyance could have caused CytoDyn to become sole owner of the Payment Shares. The joint owner of the Payment Shares, if any, by signing this Form, consents to these representations and to the exercise of
the Option by this attestation. 
 I certify that any Payment Shares originally issued to me as restricted shares are now fully
vested. 
 List certificate(s) and number of shares covered, or attach a copy of your brokerage statement: 

 

			
	 Common Stock

Certificate Number
	  	 Number of

Shares Covered

 Date:
                                         
    
  

					
			
	 Print Name of Optionholder:
	  	 	  	
			
	 Signature of Optionholder:
	  	 	  	
			
	 Print Name of Joint Owner:
	  	 	  	
			
	 Signature of Joint Owner:
	  	 	  	

 If you are attaching a copy of your brokerage statement, you must have your securities
broker complete the following: 
 The undersigned hereby certifies that the foregoing attestation is correct. 

 

					
		 	 
	Name of Brokerage Firm
			
		 	By:	 	 
		
		 	 
	Print Name of Signing Broker
			
		 	Date:	 	 

  

					
		 	Telephone No.:

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