Document:

EX-10.55

 Exhibit 10.55 

STOCK ISSUANCE AGREEMENT 

THIS STOCK ISSUANCE AGREEMENT (this “Agreement”) is made as of the
            day of             by and between Savara Inc., a Delaware corporation (the “Company”), and
            (the “Stockholder”). 
 All capitalized terms in
this Agreement shall have the meaning assigned to them in this Agreement or in the Savara Inc. Stock Option Plan (the “Plan”), a copy of which is attached hereto as Exhibit C. 

RECITALS 
 A. Concurrently
with entering into this Agreement, the Company is issuing             shares (the “Stock”) of common stock, par value $0.001 per share, of the Company (the “Common
Stock”) to Stockholder. 
 B. As a condition of Stockholder’s receipt of the Stock, Stockholder is willing to agree to subject
the Stock to the limitations and restrictions set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration for the mutual promises and covenants set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Unvested Share Repurchase
Option. The Company shall have the option (the “Unvested Share Repurchase Option”) to repurchase the Stock to the extent not vested pursuant to subsection 1(a) (“Unvested Shares”). 

(a) Vesting of Unvested Shares. The Unvested Share Repurchase Option shall terminate and cease to be exercisable with respect to any and
all Stock in which Stockholder vests in accordance with the following schedule: 
 [Vesting Schedule] 

(b) Exercise of Unvested Share Repurchase Option. The Company may exercise the Unvested Share Repurchase Option by written notice to
Stockholder or Stockholder’s legal representative within ninety (90) days after the date of termination of Stockholder’s service to the Company (“Termination Date”) (including termination due to death or disability)
or after the Company has received notice of an attempted disposition in violation of this Agreement. For the avoidance of doubt, shares of stock held by Stockholder will cease vesting immediately upon the Termination Date. The notice shall indicate
the number of Unvested Shares to be repurchased, the repurchase price to be paid per share and the date on which the repurchase is to be effected, such date to be not more than thirty (30) days after the date of such notice. 

  
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 (c) Payment for Stock and Return of Stock. Payment by the Company to Stockholder shall be
made at the Company’s offices (or, at the Company’s election, by mailing such check to the Stockholder) in cash or by check within thirty (30) days after the date of the mailing of the written notice of exercise of the Unvested Share
Repurchase Option. The purchase price for the Unvested Shares being repurchased by the Company shall be equal to $0.001 per share, as appropriately adjusted for any stock split, reverse stock split, stock dividend, recapitalization or the like. The
certificates representing the Unvested Shares to be repurchased shall be delivered to the Company on the closing date specified for the repurchase. The Company shall cancel the Unvested Shares that the Company has repurchased. 

(d) Restrictions on Transfer. Except for any Permitted Transfer, Stockholder shall not transfer, assign, encumber or otherwise dispose
of any of the Stock which are subject to the Unvested Share Repurchase Option. In addition, Stock which is released from the Unvested Share Repurchase Option shall not be transferred, assigned, encumbered or otherwise disposed of in contravention of
the First Refusal Right or the Market Stand-Off. “Permitted Transfer” shall mean (i) a gratuitous transfer of the Stock to one or more of the Stockholder’s Family Members or to a trust established for Stockholder or one or
more such Family Members, provided, and only if, Stockholder obtains the Company’s prior written consent to such transfer; (ii) a transfer of title to the Stock effected pursuant to Stockholder’s will or the laws of inheritance
following Stockholder’s death; or (iii) a transfer to the Company in pledge as security for any purchase-money indebtedness incurred by Stockholder in connection with the acquisition of the Stock. “Family Member” means,
with respect to Stockholder, any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

(e) Legends. The stock certificates for the Stock shall be endorsed with one or more of the following restrictive legends: 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. THE SHARES MAY NOT BE
SOLD OR OFFERED FOR SALE IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER SUCH ACT, (B) A “NO ACTION” LETTER OF THE SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO SUCH SALE OR OFFER OR
(C) SATISFACTORY ASSURANCES TO THE COMPANY THAT REGISTRATION UNDER SUCH ACT IS NOT REQUIRED WITH RESPECT TO SUCH SALE OR OFFER. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN REPURCHASE RIGHTS AND RIGHTS OF FIRST REFUSAL GRANTED TO THE
COMPANY AND ACCORDINGLY MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED, OR IN ANY MANNER DISPOSED OF EXCEPT IN CONFORMITY WITH THE TERMS OF A STOCK ISSUANCE AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE
PREDECESSOR IN INTEREST TO THE SHARES). A COPY OF SUCH AGREEMENT IS MAINTAINED AT THE COMPANY’S PRINCIPAL CORPORATE OFFICES. 
 (f)
Assignment. The Company shall have the right to assign the Unvested Share Repurchase Option to such person or persons as it may select. 

(g) Acceleration of Vesting. 

  
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 (i) Notwithstanding the other provisions of this Section 1, and in addition to the shares
of Stock that otherwise vest in accordance with Section 1(a), in the event of an Involuntary Termination within the 12 months following the occurrence of a Change in Control (as such term is defined in the Company’s 2008 Stock Option
Plan), provided that the Stockholder has executed a general release (in a form prescribed by the Company) of all known and unknown claims that he may then have against the Company or persons affiliated with the Company, the Unvested Shares shall
become fully vested. 
 (ii) For purposes of this Agreement, the following definitions shall apply: 

(A) “Cause” shall mean the occurrence of: (I) the willful misconduct or gross negligence in performance of
Stockholder’s duties, including Stockholder’s refusal to comply in any material respect with the legal directives of the Board of Directors of the Company or Stockholder’s immediate supervisor so long as such directives are not
inconsistent with Stockholder’s position and duties, and such refusal to comply is not remedied within ten (10) working days after written notice from the Company, which written notice shall state that failure to remedy such conduct may
result in termination for Cause; (II) dishonest or fraudulent conduct, a deliberate attempt to do an injury to the Company or the conviction of a felony; or (III) a breach of the Proprietary Information and Inventions Agreement entered into with the
Company. 
 (B) “Good Reason” shall be deemed to occur if: (I) there is a material adverse change in
Stockholder’s position of employment causing such position to be of materially less stature or of materially less responsibility without Stockholder’s consent; (II) there is a reduction of more than ten percent (10%) of
Stockholder’s base compensation unless in connection with similar decreases of other similarly situated employees of the Company, or Stockholder refuses to relocate to a facility or location more than sixty (60) miles from such
Stockholder’s principal work site. 
 (C) “Involuntary Termination” shall mean either (I) involuntary discharge
by the Company for reasons other than Cause or (II) voluntary resignation by Stockholder for a Good Reason. 
 2. Restrictions on
Transfer. Stockholder may not sell, transfer, pledge or otherwise dispose of any Unvested Shares still subject to the Unvested Share Repurchase Option. 

3. Stock Dividends, Etc. If, from time to time, there is any stock dividend, stock split or other change in the character or amount of
any of the outstanding stock of the Company, then in such event any and all new substituted or additional securities to which Stockholder is entitled by reason of Stockholder’s ownership of the Stock acquired pursuant to this Agreement shall be
considered Stock and shall be immediately subject to the Unvested Share Repurchase Option and all other terms of this Agreement to the same extent as the Stock owned by Stockholder immediately before such event. 

4. Escrow. As security for Stockholder’s faithful performance of the terms of this Agreement and to insure the availability for
delivery of the Unvested Shares upon exercise of the Unvested Share Repurchase Option herein provided for, and concurrently with the delivery of this Agreement, Stockholder agrees to deliver a Stock Assignment duly endorsed (with date and number of
shares blank) in the form attached hereto as Exhibit A, together with the certificate evidencing the Unvested Shares; such documents are to be held by the Company. Stockholder does hereby irrevocably constitute and appoint the Company as
Stockholder’s attorney-in-fact and agent to execute with respect to the Stock all stock certificates, stock assignments or other documents necessary or appropriate to make such Stock negotiable and complete any transaction herein contemplated.

  
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 5. Transfers in Violation of Agreement. The Company shall not be required (a) to
transfer on its books any shares of Unvested Shares of the Company which shall have been sold or transferred in violation of any of the provisions set forth in this Agreement or (b) to treat as owner of such shares or to accord the right to
vote as such owner or to pay dividends to any transferee to whom such shares shall have been so transferred. 
 6. Rights as
Stockholder. Subject to the provisions of this Agreement, Stockholder shall, during the term of this Agreement, exercise all rights and privileges of a stockholder of the Company with respect to the Stock prior to any repurchase of Unvested
Shares. 
 7. Market Stand-Off Agreement. Stockholder, and all subsequent holders of the Stock who derive their chain of ownership
through a Permitted Transfer from Stockholder, shall not (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or
otherwise transfer or dispose of, directly or indirectly, any securities of the Company, including (without limitation) shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether now owned or
hereafter acquired) or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any securities of the Company, including (without limitation) shares of Common
Stock or any securities convertible into or exercisable or exchangeable for Common Stock (whether now owned or hereafter acquired), whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of
securities, in cash or otherwise without the prior written consent of the Company or its underwriters. Such restriction (the “Market Stand-Off”) shall be in effect for such period of time from and after the effective date of the
final prospectus for the offering as may be requested by the Company or such underwriters. In no event, however, shall such period exceed one hundred eighty (180) days, or, if required by such managing underwriters, such longer period of time
as is necessary to enable such underwriters to issue a research report or make a public appearance that relates to an earnings release or announcement by the Company within eighteen (18) days before or after the date that is one hundred eighty
(180) days after the effective date of the registration statement relating to the initial public offering, but in any event not to exceed 210 days following the effective date of the registration statement relating to such offering, and the
Market Stand-Off shall in no event be applicable to any underwritten public offering effected more than two (2) years after the effective date of the Company’s initial public offering. Stockholder agrees to execute and deliver such other
agreements as may be reasonably requested by the Company and/or the managing underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may
impose stop-transfer instructions with respect to the Stock until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 7 and
shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Any new, substituted or additional securities which are by reason of any Recapitalization or Reorganization distributed with respect to
the Stock shall be immediately subject to the Market Stand-Off, to the same extent the Stock is at such time covered by such provisions. “Recapitalization” shall mean any of the following transactions affecting the Company’s
outstanding Common Stock as a class without the Company’s receipt of consideration: any stock split, stock dividend, spin-off transaction, extraordinary distribution (whether in cash, securities or other property), recapitalization, combination
of shares, exchange of shares or other similar transaction affecting the Common Stock without the Company’s receipt of consideration. 

  
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 8. Right of First Refusal. 

(a) Grant. The Company is hereby granted the right of first refusal (the “First Refusal Right”), exercisable in
connection with any proposed transfer of Stock in which Stockholder has vested in accordance with the provisions of Section 1. For purposes of this Section 8, the term “transfer” shall include any sale, assignment,
pledge, encumbrance or other disposition of Stock intended to be made by Owner, but shall not include any transfer of Stock permitted by Section 1(d). 

(b) Notice of Intended Disposition. In the event Stockholder or any subsequent holder of the Stock who derive their chain of ownership
through a transfer of Stock permitted by Section 1(d) (the “Owner”) of Stock in which Stockholder has vested desires to accept a bona fide third-party offer for the transfer of any or all of such shares (the Stock
subject to such offer to be hereinafter referred to as the “Target Shares”), Owner shall promptly (i) deliver to the Company written notice (the “Disposition Notice”) of the terms of the offer, including the
purchase price and the identity of the third-party offeror, and (ii) provide satisfactory proof that the disposition of the Target Shares to such third-party offeror would not be in contravention of the provisions set forth in Sections
1, 2 and 7. 
 (c) Exercise of the First Refusal Right. The Company shall, for a period of twenty-five
(25) days following receipt of the Disposition Notice, have the right to repurchase any or all of the Target Shares subject to the Disposition Notice upon the same terms as those specified therein or upon such other terms (not materially
different from those specified in the Disposition Notice) to which Owner consents. Such right shall be exercisable by delivery of written notice (the “Exercise Notice”) to Owner prior to the expiration of the twenty-five (25)-day
exercise period. If such right is exercised with respect to all the Target Shares, then the Company shall effect the repurchase of such shares, including payment of the purchase price, not more than five (5) business days after delivery of the
Exercise Notice; and at such time the certificates representing the Target Shares shall be delivered to the Company. 
 Should the purchase
price specified in the Disposition Notice be payable in property other than cash or evidences of indebtedness, the Company shall have the right to pay the purchase price in the form of cash equal in amount to the value of such property. If Owner and
the Company cannot agree on such cash value within ten (10) days after the Company’s receipt of the Disposition Notice, the valuation shall be made by an appraiser of recognized standing selected by Owner and the Company or, if they cannot
agree on an appraiser within twenty (20) days after the Company’s receipt of the Disposition Notice, each shall select an appraiser of recognized standing and the two (2) appraisers shall designate a third appraiser of recognized
standing, whose appraisal shall be determinative of such value. The cost of such appraisal shall be shared equally by Owner and the Company. The closing shall then be held on the later of (i) the fifth (5th) business day following delivery
of the Exercise Notice or (ii) the fifth (5th) business day after such valuation shall have been made. 
 (d) Non-Exercise of
the First Refusal Right. In the event the Exercise Notice is not given to Owner prior to the expiration of the twenty-five (25) day exercise period, Owner shall have a period of thirty (30) days thereafter in which to sell or otherwise
dispose of the Target Shares to the third-party offeror identified in the Disposition Notice upon terms (including the purchase price) no more favorable to such third-party offeror than those specified in the Disposition Notice; provided, however,
that any such sale or disposition must not be effected in contravention of the provisions of Sections 1, 2 and 7. The third-party offeror shall acquire the Target Shares subject to the First Refusal Right and the provisions and
restrictions of Sections 7 and 8, and any subsequent disposition of the acquired shares must be effected in compliance with the terms and conditions of such First Refusal Right and the provisions and restrictions of Sections 7
and 8. In the event Owner does not effect such sale or disposition of the Target Shares within the specified thirty (30)-day period, the First Refusal Right shall continue to be applicable to any subsequent disposition of the Target Shares by
Owner until such right lapses. 

  
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 (e) Partial Exercise of the First Refusal Right. In the event the Company makes a timely
exercise of the First Refusal Right with respect to a portion, but not all, of the Target Shares specified in the Disposition Notice, Owner shall have the option, exercisable by written notice to the Company delivered within five (5) business
days after Owner’s receipt of the Exercise Notice, to effect the sale of the Target Shares pursuant to either of the following alternatives: 

(i) sale or other disposition of all the Target Shares to the third-party offeror identified in the Disposition Notice, but in full compliance
with the requirements of Section 8(d), as if the Company did not exercise the First Refusal Right; or 
 (ii) sale to the
Company of the portion of the Target Shares which the Company has elected to purchase, such sale to be effected in substantial conformity with the provisions of Section 8(c). The First Refusal Right shall continue to be applicable to any
subsequent disposition of the remaining Target Shares until such right lapses. 
 Owner’s failure to deliver timely notification to the
Company shall be deemed to be an election by Owner to sell the Target Shares pursuant to alternative (i) above. 
 (f)
Recapitalization/Reorganization. 
 (i) Any new, substituted or additional securities or other property which is by reason of any
Recapitalization distributed with respect to the Stock shall be immediately subject to the First Refusal Right, but only to the extent the Stock are at the time covered by such right. 

(ii) In the event of Reorganization, the First Refusal Right shall remain in full force and effect and shall apply to the new capital stock or
other property received in exchange for the Stock in consummation of the Reorganization, but only to the extent the Stock are at the time covered by such right. 

(g) Lapse. The First Refusal Right shall lapse upon the earliest to occur of (i) the first date on which shares of the Common Stock
are held of record by more than five hundred (500) persons, (ii) a determination made by the Board that a public market exists for the outstanding shares of Common Stock, (iii) a firm commitment underwritten public offering, pursuant
to an effective registration statement under the 1933 Act, covering the offer and sale of the Common Stock in the aggregate amount of at least twenty million dollars ($20,000,000) or (iv) the closing of a Change in Control. However, the Market
Stand Off shall continue to remain in full force and effect following the lapse of the First Refusal Right. 
 9. Special Tax
Election. 
 (a) Section 83(b) Election. Stockholder understands that Section 83(a) of the Internal Revenue Code of
1986, as amended (the “Code”), taxes as ordinary income the difference between the amount paid for the Unvested Shares and the fair market value of the Unvested Shares as of the date any restrictions on the Unvested Shares lapse. In
this context, “restriction” includes the right of the Company to buy back the Unvested Shares pursuant to the Unvested Share Repurchase Option set forth in Section 1 above. Stockholder understands that Stockholder may elect to
be taxed at the time the Unvested Shares are purchased, rather than when and as the Unvested Share Repurchase Option expires, by filing an election under Section 83(b) (an “83(b) Election”) of the Code with the Internal Revenue

  
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Service within thirty (30) days from the date of purchase. Even if the fair market value of the Unvested Shares at the time of the execution of this Agreement equals the amount paid for the
Unvested Shares, the 83(b) Election must be made to avoid income under Section 83(a) in the future. Stockholder understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Stockholder.
Stockholder further understands that an additional copy of such 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. Stockholder acknowledges that the
foregoing is only a summary of the effect of United States federal income taxation with respect to the purchase of the Unvested Shares hereunder, and does not purport to be complete. Stockholder further acknowledges that the Company has directed
Stockholder to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Stockholder may reside, and the tax consequences of Stockholder’s death.
Stockholder assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or non-election and the lapse of the restrictions on the Unvested Shares. 

THE FORM FOR MAKING THIS ELECTION IS ATTACHED AS EXHIBIT B HERETO. PARTICIPANT UNDERSTANDS THAT FAILURE TO MAKE THIS FILING WITHIN
THE APPLICABLE THIRTY (30) DAY PERIOD WILL RESULT IN THE RECOGNITION OF ORDINARY INCOME AS THE FORFEITURE RESTRICTIONS LAPSE. 

(b) FILING RESPONSIBILITY. PARTICIPANT ACKNOWLEDGES THAT IT IS PARTICIPANT’S SOLE RESPONSIBILITY,
AND NOT THE COMPANY’S, TO FILE A TIMELY ELECTION UNDER CODE SECTION 83(b), EVEN IF PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF. 

10. No Employment Rights. This Agreement is not an employment contract and, and in the event that Stockholder is an employee of the
Company, nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company (or a parent or subsidiary of the Company) to terminate Stockholder’s employment for any reason at any time, with or without cause and
with or without notice. 
 11. Miscellaneous. 

(a) Further Instruments. Stockholder agrees to execute such further instruments and to take such further action as may reasonably be
necessary to carry out the intent of this Agreement. 
 (b) Notice. All notices and other communications required or permitted
hereunder shall be in writing and shall be deemed effectively given (i) upon personal delivery, (ii) when sent by confirmed facsimile, if sent during normal business hours of recipient, or if not, then on the next business day, or
(iii) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All notices to (a) Stockholder shall be sent to the Stockholders’ address as set forth in
the Company’s records and (b) the Company shall be sent to: 
 Savara Inc. 

900 S. Capital of Texas Highway, Suite 150 

Austin, TX 78746 
 or at such
other address as the Company may designate by advance written notice to Stockholder. 
 Stockholder generally consents to the delivery of
any notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time, by electronic transmission pursuant to Section 232 of the DGCL (“Electronic Notice”) at the
electronic mail address or 

  
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the facsimile number as set forth in the books of the Company. To the extent that any notice given via electronic transmission is returned or undeliverable for any reason, the foregoing consent
shall be deemed to have been revoked until a new or corrected electronic mail address has been provided, and such attempted Electronic Notice shall be ineffective and deemed to not have been given. Stockholder agrees to promptly notify the Company
of any change in Stockholder’s electronic mail address, but failure to do so shall not affect the foregoing. 
 (c) Successors and
Assigns. This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be binding upon Stockholder, Stockholder’s heirs, executors, administrators,
successors and assigns. 
 (d) Applicable Law. This Agreement shall be governed by and construed under the laws of the State of
Texas in all respects as such laws are applied to agreements among Texas residents entered into and performed entirely within Texas, except for matters of corporate law, which shall be governed by the laws of the State of Delaware. The parties
agree that any action brought by either party under or in relation to this Agreement, including without limitation to interpret or enforce any provision of this Agreement, shall be brought in, and each party agrees to and does hereby submit to the
jurisdiction and venue of, any state or federal court located in the County of Travis, Texas. 
 (e) Entire Agreement; Amendments.
This Agreement, together with the exhibits hereto, constitutes the entire agreement of the parties with respect to the subject matter hereof superseding all prior written or oral agreements, and no amendment or addition hereto shall be deemed
effective unless agreed to in writing by the parties hereto. 
 (f) Right to Specific Performance. Stockholder agrees that the Company
shall be entitled to a decree of specific performance of the terms hereof or an injunction restraining violation of this Agreement, said right to be in addition to any other remedies available to the Company. 

(g) Severability. If any provision of this Agreement is held by a court to be invalid, void or unenforceable, the remaining provisions
shall nevertheless continue in full force and effect without being impaired or invalidated in any way and shall be construed in accordance with the purposes and tenor and effect of this Agreement. 

(h) Counterparts. This Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall
constitute one instrument. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Restriction Agreement as of the
date first above written. 
  

							
	“STOCKHOLDER”	 		 	 “COMPANY”
  

SAVARA INC.
  

		 		 	By:	  	  

	  
	 		 	Name:	  	  

	Signature	 		 	Title:	  	
			
	 Address:
                                         

                          
                              

                          
                              
	 		 	 Address: 900 S. Capital of Texas Highway

                  Suite 150

                  Austin, TX 78746

  
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 SPOUSAL ACKNOWLEDGMENT 

The undersigned spouse of Stockholder has read and hereby approves the foregoing Stock Restriction Agreement. In consideration of the
Company’s granting Stockholder the right to acquire the Common Stock in accordance with the terms of such Agreement, the undersigned hereby agrees to be irrevocably bound by all the terms of such Agreement, including (without limitation) the
right of the Company (or its assigns) to purchase any Common Stock in which Participant is not vested at the time of his or her cessation of Service. 
  

	
	  

	STOCKHOLDER’S SPOUSE
	
	Address:                                   
                                         
          
	
	  

 EXHIBIT A 

ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED,             , hereby sells, assigns and transfers unto Savara
Inc., a Delaware corporation (the “Company”),             shares of the common stock of the Company, standing in the undersigned’s name on the books of said Company
represented by Certificate No.             herewith, and does hereby irrevocably constitute and appoint the Company’s Secretary as attorney to transfer such stock on the books of
the Company with full power of substitution in the premises. 
 Dated:
                     
  

	
	  

	Name:
                                         
                                         
       

 Instruction: Please sign but do not fill in any other blanks. The purpose of this assignment is to enable
the Company to exercise its repurchase rights as set forth in the Agreement without requiring additional signatures on the part of Stockholder. 

 EXHIBIT B 

SECTION 83(B) TAX ELECTION 

 SECTION 83(B) ELECTION 

This statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83 2. 

(I) The taxpayer who performed the services is: 
  

	
	Name:                                    
                                         
       
	Address:                                   
                                         
    
	Taxpayer Ident.
No.:                                        
                 

  

	(II)	The property with respect to which the election is being made is             shares of the common Stock of Savara Inc. 

 

	(III)	The property was issued on             ,             . 

 

	(IV)	The taxable year in which the election is being made is the calendar year             . 

 

	(V)	The property is subject to a repurchase right pursuant to which the issuer has the right to acquire the property at the lower of the purchase price paid per share or the fair market value per share, if for any reason
taxpayer’s service with the issuer terminates. The issuer’s repurchase right will lapse in a series of quarterly installments over a four (4) year period ending on December 15, 2019. 

 

	(VI)	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$            per share. 

  

	(VII)	The amount paid for such property is $            per share. 

  

	(VIII)	A copy of this statement was furnished to Savara Inc. for whom taxpayer rendered the services underlying the transfer of property. 

  

	(IX)	This statement is executed on             , 20            . 

 

					
	  
	 		 	  

	Spouse (if any)	 		 	Taxpayer

 This election must be filed with the Internal Revenue Service Center with which taxpayer files his or her federal income
tax returns and must be made within thirty (30) days after the execution date of the Stock Purchase Agreement. This filing should be made by registered or certified mail, return receipt requested. Optionee must retain two (2) copies of the
completed form for filing with his or her federal and state tax returns for the current tax year and an additional copy for his or her records. 

 EXHIBIT C 

Savara Inc. Stock Option PlanEX-10.56

 Exhibit 10.56 

SAVARA INC. 

March 19, 2012 
 Robert Neville 

1601 Cabinwood Cove 
 Austin, TX 78746 

 

	 	Re:	Terms of Employment 

 Dear Rob: 

You have been a vital part of the early success of Savara Inc. (“Savara”, the “Company” or
“we”). In recognition of your past contributions and in connection with our contemplated Series B Financing, we wanted to set forth our mutual understanding of the terms of your employment with Savara. 

 

	1.	Position and Benefits. Your current position with Savara is Chief Executive Officer. You currently receive a base salary in the amount of $12,500.00 per month ($150,000.00 annualized), payable in
accordance with our regular payroll practices. Your base salary is subject to statutory deductions and withholding. Your salary and compensation package will be reviewed from time to time by Savara’s Board of Directors (the
“Board”) or its Compensation Committee with respect to performance or market-based adjustments. As an employee, you are eligible to participate in our bonus plans and benefit programs as they are established from time to
time. We are an “at-will” employer, which means that your employment with Savara (and the terms thereof) is for no specific period of time and may be modified or terminated by Savara or you at any time and for any reason, with or without
prior notice and with or without Cause. The at-will nature of your employment may only be altered by a written agreement signed on behalf of the Board. 

 

	2.	Separation Benefits. Notwithstanding the foregoing, if you are terminated by Savara for any reason other than “Cause” (as defined below) , death or Disability (as defined below), or in the event of a
Constructive Termination (defined below), the Company agrees to provide the separation benefits provided for in Sections 2(a)-(c) (the “Separation Benefits”). Your right to receive the Separation Benefits
outlined below is conditioned upon (i) your execution of a release substantially in the form attached to this letter agreement and identified as Exhibit A (the “Release”), (ii) the non-revocation of the
ADEA Release (as defined in the Release) and (iii) your continued compliance with the terms of this letter agreement and your PITA (as defined below). The Release must be delivered to the Company, in a non-revocable form, within fifty
(50) days after the date of your termination of employment, or all Separation Benefits shall be forfeited. In addition, if the Board determines that you have failed to comply with the terms of this letter agreement, the Release, or the PIIA at
any time, then Savara will be entitled to (i) cancel the remaining payments under Section 2(a) and be reimbursed for any prior payments made under Section 2(a), (ii) be reimbursed for the premiums paid pursuant to
Section 2(b), and (iii) repurchase from you, at cost, any shares that vested pursuant to Section 2(c). 

	 	(a)	Separation Payment. In accordance with our normal payroll practices and subject to applicable deductions and withholdings, Savara will pay to you for a period of three (3) months following your
termination date an amount equal to the base salary to which you would be entitled if your employment had not been so terminated; provided, however, that in no event shall the
base salary be less than $150,000.00 on an annualized basis for purposes of computing any separation payments to which you are entitled pursuant to this paragraph. 

 

	 	(b)	Continuation of Health Coverage. If you elect to continue health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), Savara will pay (i) your
COBRA premiums in an amount sufficient to maintain the level of health benefits in effect on your last day of employment or (ii) a benefits allowance equal to five percent (5%) of your monthly base salary in the event that Savara does not
provide health coverage programs as of the last day of your employment, throughout the six-month period in which you are entitled to receive the separation payments provided above or until you receive comparable benefits from any other source,
whichever occurs first. Nothing contained herein shall interfere with your right to continuation coverage under COBRA. 

  

	 	(c)	Stock Vesting. Savara will provide you with accelerated vesting of certain of your restricted shares of Savara’s Common Stock (the “Shares”) as listed on
Schedule I attached hereto that are unvested at the time of your termination date. The Shares have been granted pursuant to those certain Stock Restriction Agreements or Stock Issuance Agreements, as
applicable, listed on Schedule I. The accelerated vesting of the Shares shall be subject to the terms set forth in greater detail in your Stock Restriction Agreements or Stock Issuance Agreements, as
applicable. 

  

	 	(d)	Certain Definitions. 

  

	 	(i)	 “Cause” shall mean: (i) your act(s) of gross negligence or willful misconduct in the
course of your employment hereunder, (ii) your continued failure to substantially perform the duties and obligations of your position with Savara (other than any such failure resulting from your Disability); (iii) the commission or
attempted commission of any act of personal dishonesty, embezzlement, fraud or misrepresentation taken by you, or at your direction, which was intended to result in gain or personal enrichment for you or another at the expense of Savara;
(iv) your violation of a federal or state law or regulation applicable to Savara’s business which violation was or is reasonably likely to be injurious to Savara; (v) your conviction of, or plea of nolo contendere or guilty to,
a felony under the laws of the United States or any State or any other criminal charge that has, or could be reasonably expected to have, an adverse impact on the performance of your duties to the Company or any of its affiliates or

  
 2 

	 	
otherwise result in material injury to the reputation of the business of the Company or any of its affiliates, as determined in good faith by the Board; (vi) any unauthorized use or
disclosure by you of confidential information or trade secrets of Savara or your breach of the terms of your agreement(s) with Savara relating to proprietary information and inventions assignment, including your PIIA; (vii) any material
violation by you of the policies of the Company or any of its affiliates, including, but not limited to, those relating to sexual harassment or business conduct, and those otherwise set forth in the manuals or statements of policy of the Company or
any of its affiliates; or (viii) your material breach of the terms of this letter agreement; provided that each of clauses (ii), (vi), (vii) and (viii) shall require a reasonable notice and cure period not to exceed thirty
(30) days (if such matter is capable of being cured); and provided further that the Company shall not be required to provide such written notice to you (and you shall not have the opportunity to cure) more than once in any six (6)-month
rolling period. The foregoing definition shall not in any way preclude or restrict the right of Savara to discharge or dismiss you, in the employment of Savara for any other acts or omissions, but such other acts or omissions shall not be deemed,
for purposes of this letter agreement, to constitute grounds for termination for Cause. 

  

	 	(ii)	“Constructive Termination” shall mean your voluntary resignation following (i) a reduction in your Base Salary by more than 15%; or (ii) a relocation of your place of employment by more
than fifty (50) miles, provided, and only if, in the case of items (i) or (ii), such change, reduction or relocation is effected without your consent (which consent shall be deemed to be given if no
formal written objection is made by you within 90 days of the date such reduction or relocation is communicated to you); provided, however, that the Company shall have 30 business
days after receipt of such written notice to correct any such issue (if one exists), in the case of items (i) or (ii). Notwithstanding the foregoing, during the term of your employment, in the event that the Board reasonably believes that you
may have engaged in conduct that could constitute Cause hereunder, the Board may, in its sole and absolute discretion, suspend you with pay and benefits from performing your duties hereunder for a reasonable time period while it investigates the
matter, and in no event shall any such suspension constitute an event pursuant to which you may terminate employment by reason of a Constructive Termination or otherwise constitute a breach hereunder; provided, that no such suspension shall alter
the Company’s obligations under this letter agreement during such period of suspension. 

  

	 	(iii)	You shall be deemed to be disabled if the Board determines that you are unable to perform the essential functions of your duties, even with reasonable accommodation, for a period of more than 90 consecutive days or more
than 75% of the business days in any 180 day period due to a mental or physical illness or incapacity (“Disability”). 

  
 3 

	 	(e)	Resignations. Upon any termination of your employment for any reason, except as may otherwise be requested by the Company in writing and agreed upon in writing by you, you shall resign from any and all
directorships, committee memberships, and any other positions you hold with the Company or any of its affiliates. 

  

	3.	Re-Affirmation. You agree and acknowledge that your fulfillment of the obligations contained in your Proprietary Information and Inventions Agreement (your “PIIA”) are necessary to
protect Savara’s Intellectual Property Rights (as defined in your PIIA) and to preserve Savara’s value and goodwill. You further acknowledge the time, geographic and scope limitations of your obligations not to compete and not to interfere
under your PIIA are reasonable, especially in light of the Savara’s desire to protect its Proprietary Information, and that you will not be precluded from gainful employment if you are obligated not to compete or interfere with Savara pursuant
to the terms of your PIIA. Notwithstanding the foregoing, even if you fail to deliver this letter agreement, nothing shall be deemed to affect the validity of your PIIA or the obligations contained therein. 

 

	4.	Tax and Legal Advice. You acknowledge that you have been represented by counsel in connection herewith and have had an opportunity to consult with your legal counsel and tax and other advisors regarding
the preparation of this letter agreement and the matters related thereto. You understand and acknowledge that Andrews Kurth LLP has acted solely as legal counsel for Savara with respect to the preparation of this letter agreement and the other
matters related thereto, and has not acted as legal counsel for you. 

  

	5.	Severability. The parties intend all provisions of this letter agreement to be enforced to the fullest extent permitted by law. Accordingly, if a court of competent jurisdiction determines that the scope
and/or operation of any provision of this letter agreement is too broad to be enforced as written, the parties intend that the court should reform such provision to such narrower scope and/or operation as it determines to be enforceable. If,
however, any provision of this letter agreement is held to be illegal, invalid, or unenforceable under present or future law, and not subject to reformation, then (i) such provision shall be fully severable, (ii) this letter agreement
shall be construed and enforced as if such provision was never a part of this letter agreement, and (iii) the remaining provisions of this letter agreement shall remain in full force and effect and shall not be affected by illegal, invalid or
unenforceable provisions or by their severance. 

  

	6.	General Creditor Status. All cash payments and other benefits to which you may become entitled hereunder will be paid, when due, from the general assets of Savara, and no trust fund, escrow arrangement or
other segregated account will be established as a funding vehicle for such payment. Accordingly, your right (or the right of the personal representatives or beneficiaries of your estate) to receive such cash payments hereunder will at all times be
that of a general creditor of Savara and will have no priority over the claims of other general creditors. 

  

	7.	Entire Agreement. This letter agreement, the PIIA and your Stock Restriction Agreements or Stock Issuance Agreements together set forth the entire agreement between you and Savara regarding the terms of
your employment and supersede any prior representations, agreements and understandings between you and any employee or representative Savara, whether written or oral. 

  
 4 

	8.	Notices. All notices, requests, and other communications hereunder must be in writing and will be deemed to have been duly given only if (i) delivered personally or by overnight courier,
(ii) delivered by facsimile transmission with answer back confirmation, (iii) mailed (postage prepaid by certified or registered mail, return receipt requested) (effective upon actual receipt), or (iv) delivered by electronic
communication to you at the address set forth on the signature page hereto or to Savara at the company’s then-current principal executive office. An electronic communication (“Electronic Notice”) shall be deemed written
notice for purposes of this letter agreement if sent with return receipt requested to the electronic mail address specified by the receiving party. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives
verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall be sent to
the requesting party within five (5) days after receipt of the written request for Nonelectronic Notice. Any party from time to time may change its address, facsimile number, electronic mail address, or other information for the purpose of
notices to that party by giving written notice specifying such change to the other party hereto. 

  

	9.	Governing Law; Venue. THIS LETTER AGREEMENT SHALL BE CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. EACH PARTY HERETO CONSENTS AND SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE
COURTS OF THE STATE OF TEXAS IN AND FOR THE COUNTY OF TRAVIS AND THE COURTS OF THE UNITED STATES LOCATED IN THE WESTERN DISTRICT OF TEXAS FOR THE ADJUDICATION OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR OTHERWISE RELATING TO THIS LETTER
AGREEMENT. 

  

	10.	Miscellaneous. This letter agreement shall inure to the benefit of any successors or assigns of Savara; you shall not be entitled to assign any of your rights or obligations under this letter agreement.
The terms and provisions of this letter agreement are intended solely for the benefit of each party hereto and Savara’s successors or assigns, and it is not the intention of the parties to confer third-party beneficiary rights upon any other
person. This letter agreement may only be amended in a writing signed by you and Savara upon the written consent of the Board of Directors. The headings used in this letter agreement have been inserted for convenience of reference only and do not
define or limit the provisions hereof. This letter agreement may be executed in any number of counterparts and by facsimile, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

  

	12.	Section 409A Compliance. This letter agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code (the “Code”) and, to the extent
that adverse tax consequences thereunder may be avoided, this letter agreement (i) shall automatically be amended to the extent necessary to incorporate any provisions required to ensure such compliance (which the parties hereby agree are
hereby adopted, approved, consented to, ratified and incorporated herein by reference) and (ii) shall be construed, interpreted and operated in a manner that will ensure such compliance. 

  
 5 

 For all purposes of this letter agreement, you shall be considered to have
terminated employment with the Company when you incur a “separation from service” with the Company within the meaning of Section 409A(a)(2)(A)(i) of the Code and applicable administrative guidance issued hereunder. 

For purposes of Section 409A of the Code and this letter agreement, each payment made under this letter agreement shall be
designated as a “separate payment” within the meaning of the Section 409A of the Code. 
 If any payment under
this letter agreement would be subject to additional taxes under Section 409A of the Code because the timing of such payment is not delayed as provided in Section 409A(a)(2)(B) of the Code, then such payment shall be paid on the date that
is six (6) months after the date of your termination of employment with the Company (or if such payment date does not fall on a business day of the Company, the next following business day of the Company), or such earlier date upon which such
payment can be paid under Section 409A of the Code without being subject to such additional taxes. 
 To the extent that
any reimbursement or provision of in-kind benefits under this letter agreement would result in taxable income to you, such amounts shall be made in accordance with Treas. Reg. Section 1.409A-1(i)(1)(iv) such that the reimbursement or provision
will be deemed payable at a specified time or on fixed schedule, provided: 
  

	 	(1)	the amount of expenses eligible for reimbursement (or provision of in-kind benefits) during one (1) calendar year shall not affect the expenses eligible for reimbursement (or benefits provided) in any other
calendar year, except as otherwise provided in the Treasury regulations and other applicable guidance issued under section 409A of the Code; 

  

	 	(2)	your right to such reimbursement (or provision of in-kind benefit) shall not be subject to liquidation or exchange for any other benefit; 

 

	 	(3)	such expenses (or provision of in-kind benefit) must be incurred within the applicable statute of limitations applicable to such claims; and 

 

	 	(4)	the reimbursement of an eligible expense will be made on or before the last day of your tax year following the tax year in which the expense was incurred. 

[Signature page follows] 

  
 6 

 If you agree to the terms contained in this letter agreement, please sign one of the originals of
this letter agreement and return it to us. The second original is for your files. We look forward to your continued participation in the successes of Savara. 

 

			
	Sincerely,
	
	SAVARA INC.
		
	By:	 	 /s/ George Laurence

		 	Name: George Laurence
		 	Title: Director

 I have read and acknowledge and agree to the terms of this letter agreement effective as of the date set forth above.

  

	
	 /s/ Robert Neville

	Robert Neville
	

  
 7 

 EXHIBIT A 

FORM OF RELEASE AGREEMENT 
 TO: Savara
Inc. 
 Employment Termination
Date:                                 

1. Introduction and General Information. Signing this release (this “Release”) is one condition to
receiving certain benefits offered by Savara Inc. (the “Company”) that are in addition to anything of value to which you already are entitled. Reference is made to that certain Letter Agreement dated March 19, 2012 (the
“Agreement”) between you and the Company. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement. 

The Agreement provides that the Company will provide certain consideration, if among other requirements, you execute and deliver this Release and do not
revoke the ADEA Release (as defined below) following your termination date and within the periods specified in Section 2(b), as set forth below. You should thoroughly review and understand the effect of this Release before signing it. To
the extent you have any claims covered by this Release, you will be waiving potentially valuable rights by signing this Release. You also are advised to discuss this Release with your attorney. 

 

	2.	Releases. 

  

	 	(a)	 General Release. You agree that the foregoing consideration (including the consideration to be provided
pursuant to the Agreement) represents settlement in full of all outstanding obligations owed to you by the Company and its current and former officers, directors, employees, agents, investors, attorneys, stockholders, administrators, affiliates,
divisions, subsidiaries, predecessor and successor corporations, and assigns (collectively, the “Releasees”). You (for yourself, your spouse, executors, heirs, beneficiaries, representatives, agents, attorneys, assigns,
insurers and assurers, and anyone claiming by or through him) hereby and forever release the Releasees from any and all manner of actions, causes of action, suits, charges, claims, complaints, counterclaims, defenses, demands, damages or liabilities
whatsoever, including, without limitation, attorneys’ fees, known or unknown, accrued or which may ever accrue, whether based in contract or tort, statutory or common law, of every kind and nature whatsoever, arising from the beginning of time
to the execution date of this Release, whether or not relating to or arising from your employment and termination of employment with the Company and any act that has occurred as of the date of the execution of this Release in connection with any
service that you may have rendered or may have been requested to render to or on behalf of the Company at any time, other than the rights and obligations under this Release, 

  
 A-1 

	 	
and except as to claims arising under the Age Discrimination in Employment Act (“ADEA”), which are addressed in subsection (b) below. Except as to claims
arising under the ADEA, which are covered in subsection (b) below, and as provided for in subsection (c) below, this Release shall be construed as broadly as possible and shall include without limitation: (a) any contractual or other
claims of employment, benefits, or payment you may have; (b) any claims arising out of or in connection with the initiation, termination or existence of your employment relationship with the Company or any service performed on behalf of the
Company; (c) any claims regarding wages and/or compensation in any form whatsoever, vacation, leaves, bonuses, commissions, monies, perquisites, benefits, severance, or any other item attributable to or arising in connection with your
employment with the Company; (d) any and all claims relating to the issuance of all outstanding shares of capital stock of the Company; and (e) without limitation, claims, if any, arising under the following:

  

	 	•	 	Title VII of the Civil Rights Act of 1964, as amended; 

  

	 	•	 	The Americans with Disabilities Act of 1990, as amended; 

  

	 	•	 	The Fair Labor Standards Act of 1938, as amended; 

  

	 	•	 	The Family and Medical Leave Act of 1993; 

  

	 	•	 	The Employee Retirement Income Security Act of 1974 (ERISA), as amended (non-vested rights); 

  

	 	•	 	The Occupational Safety and Health Act of 1970 (OSHA), as amended; 

  

	 	•	 	Texas Labor Code § 21.001, et seq. (Texas Employment Discrimination); 

  

	 	•	 	Texas Labor Code § 61.001, et seq. (Texas Pay Day Act); 

  

	 	•	 	Austin, Texas Code of Ordinance, Title V, Chapters 5-3, 5-5 and 5-6; 

  

	 	•	 	any other federal, state or local civil or human rights law or other local, state or federal law, regulation or ordinance; 

  

	 	•	 	any public policy, contract, tort, or common law (including, without limitation, those relating to fraud, whistleblower, retaliation, negligent or intentional conduct of any nature, constructive discharge, emotional
distress, personal injury); or 

  

	 	•	 	intentional conduct of any nature, breach of contract (including the Agreement), constructive discharge, emotional distress, personal injury). 

 

	 	(b)	 ADEA Release. For the good and valuable consideration provided for under the Agreement, the sufficiency of
which is hereby acknowledged, and to which you acknowledge you are not otherwise entitled, and other valuable consideration, the sufficiency of which is hereby acknowledged, you hereby completely and forever release and irrevocably discharge each of
the Releasees, of and from any and all liabilities, claims, actions, demands, and/or causes of action, arising under the ADEA on or before the date of this Release (the “ADEA Release”), and hereby acknowledge and agree that:
the Agreement and this Release, including this ADEA Release, was negotiated at arms’ length; the Agreement and this Release, including the ADEA Release, is worded in a manner that you fully understand; you specifically waive any rights or
claims under the ADEA; you knowingly and voluntarily agree to all of the terms set forth in the Agreement and this Release, 

  
 A-2 

	 	
including this ADEA Release; you acknowledge and understand that any claims under the ADEA that may arise after the date of this Release are not waived; the rights and claims waived in this
Release and this ADEA Release are in exchange for consideration over and above anything to which you were already undisputedly entitled; you have been and hereby are advised in writing to consult with an attorney prior to executing the Agreement,
this Release and the ADEA Release; you understand that you have been given a period of up to twenty-one (21) days to consider the ADEA Release prior to executing it; and you understand that you have been given a period of seven (7) days
from the date of the execution of the ADEA Release to revoke the ADEA Release, and understand and acknowledge that the ADEA Release will not become effective or enforceable until the revocation period has expired. If you elect to revoke this ADEA
Release, revocation must be in writing and presented to the Chairman of the Board, or his designee within seven (7) days from the date of the execution of the Release. 

 

	 	(c)	Notwithstanding the foregoing, by executing this Release, you shall not be deemed to have waived any rights with respect to your ownership of vested capital stock of Savara Inc. (although pursuant to this subsection
(c), you are expressly waiving and releasing any and all claims, including any stockholder derivative claims, that you may have had from the beginning of time through the date of this Release as a stockholder of Savara Inc.) or any rights pursuant
to that certain Second Amended and Restated Investor Rights Agreement among the Company and certain of its stockholders (as the same may hereafter be amended or restated) or that certain Second Amended and Restated Right of First Refusal and Co-Sale
Agreement among the Company and certain of its stockholders (as the same may hereafter be amended and restated), each dated December 10, 2009. Furthermore, nothing in this Release is intended to be construed as a release of your rights of
indemnification and exculpation for actions as a director, employee or officer of the Company you have at law or under the governing documents (charter and bylaws) of the Company or any of its Affiliates (as defined below), any written indemnity
agreement with regard to the foregoing, or any D&O insurance coverage under which you may be covered by in connection with the foregoing; provided that in no event shall you be entitled to make any claim thereunder, under the Company’s or
the Affiliates’ governing documents or insurance policies, or otherwise in defense of, or for exculpation, indemnification or advancement with respect to your compliance with this Release or your breach or alleged breach of this Release.

  

	3.	Release of Unknown Claims. You understand and agree, in compliance with any statute or ordinance which requires a specific release of unknown claims or benefits, that, except where expressly prohibited by
law, this Release includes a release of unknown claims, and you hereby expressly waive and relinquish any and all claims, rights or benefits that you may have which are unknown to you at the time of the execution of this Release. You understand and
agree that if, hereafter, you discover facts different from or in addition to those that you now know or believe to be true, that the waivers and releases of this Release shall be and remain effective in all respects notwithstanding such different
or additional facts or the discovery of such facts. 

  
 A-3 

	4.	No Other Claims; Ownership of Claims. You represent and warrant that you do not presently have on file any lawsuits, claims, charges, grievances or complaints against the Company and/or any of the
Releasees in or with any administrative, state, federal or governmental entity, agency, board or court, or before any other tribunal or panel or arbitrators, public or private, based upon any actions or omissions by the Company and/or any of the
Releasees occurring prior to the date of this Release. To the extent that you are still entitled to file any administrative charge with any governmental agency, you hereby release any personal entitlement to reinstatement, back pay, or any other
types of damages or injunctive relief in connection with any civil action brought on his behalf after your filing of any administrative charge. Finally, you represent and agree that you are the sole and lawful owner of all rights, title and interest
in and to all released matters, claims and demands arising out of or in any way related to your employment with the Company and/or the termination thereof. 

 

	5.	Company’s Remedies for Breach. You acknowledge and agree that any breach by you of this Release or of your obligations under the Agreement, shall constitute a material breach of the Agreement, and
shall entitle the Company immediately to recover the consideration provided to you in connection with the Agreement, except as provided by law. Except as provided by law, you shall also be responsible to the Company for all costs, attorneys’
fees and any and all damages incurred by the Company in: (a) enforcing your obligations under this Release and the Agreement, including the bringing of any action to recover the consideration, and (b) defending against a claim brought or
pursued by you in violation of the terms of this Release. 

  

	6.	Non-Disparagement. (i) You agree that you will not, directly or indirectly, disclose, communicate or publish any disparaging or critical information concerning the Company or any parent or subsidiary
of the Company, or any company controlled by the Company, or any other entity or organization wholly or partially, directly or indirectly, owned or controlled by the Company (each, an “Affiliate”), their business, financial
condition, professional skills or expertise, suppliers, customers or clients, products or services, operations, market position, performance, technology, employees, officers, directors, consultants, representatives, agents or investors, or
proprietary or technical information whatsoever, or directly or indirectly cause or encourage others to disclose, communicate, or publish any disparaging or critical information concerning the same and (ii) nothing contained in this paragraph
is intended to prevent any person from testifying truthfully in any legal proceeding in which such person is under a subpoena or other court order to do so. 

 

	7.	No Interference. You agree that you will not act in any manner that might damage the business of the Company or its Affiliates or the Company’s investors or their respective affiliates. You agree that
you will not, directly or indirectly, counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges or complaints by any third party against the Company or its
Affiliates or the Company’s investors or their respective affiliates and/or any officer, director, employee, agent, representative, stockholder or attorney of any of the foregoing, provided that nothing herein shall prohibit you from testifying
truthfully in any legal proceeding in which you are under a subpoena or other court order to do so. However, nothing in this Release shall prohibit you from participating in any proceeding before a governmental agency, provided that you agree to
waive any relief available with respect to such proceeding. 

  
 A-4 

 8. Cooperation. You agree to cooperate with the Company and its Affiliates, at the
Company’s reasonable request and without further consideration, in all respects concerning any matters which require your assistance, cooperation or knowledge, including communicating with persons inside or outside the Company and any Affiliate
and assistance/availability for any agency, board and legal investigations and proceedings. 
 9. Re-Affirmation.
You agree and acknowledge that your fulfillment of the obligations contained in your Proprietary Information and Inventions Agreement (your “PIIA”) are necessary to protect the Company’s Intellectual Property Rights (as
defined in your PIIA) and to preserve the Company’s value and goodwill. You further acknowledge the time, geographic and scope limitations of your obligations not to compete and not to interfere under your PIIA are reasonable, especially in
light of the Company’s desire to protect its Proprietary Information, and that you will not be precluded from gainful employment if you are obligated not to compete or interfere with the Company pursuant to the terms of your PIIA.
Notwithstanding the foregoing, even if you fail to deliver or if you validly revoke the ADEA Release, nothing shall be deemed to affect the validity of your PIIA or the obligations contained therein. 

10. Voluntary Agreement. YOU UNDERSTAND AND AGREE THAT YOU MAY BE WAIVING SIGNIFICANT LEGAL RIGHTS BY SIGNING THIS RELEASE, AND
REPRESENT THAT YOU HAVE ENTERED INTO THIS RELEASE VOLUNTARILY, AFTER HAVING THE OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF YOUR OWN CHOOSING, WITH A FULL UNDERSTANDING OF THE RELEASE AND ALL OF ITS TERMS. 

[Signature page follows] 

  
 A-5 

	 	I HAVE READ AND FULLY CONSIDERED THE RELEASE LANGUAGE HEREIN AND DESIRE TO ENTER INTO THIS RELEASE. I ALSO HAVE BEEN ADVISED HEREIN IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS RELEASE. HAVING ELECTED TO
SIGN THIS RELEASE AND RECEIVE THE CONSIDERATION IN THE AGREEMENT, I FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTER INTO THIS RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST THE COMPANY AND THE OTHER
RELEASED PARTIES AS OF THE DATE I SIGN THIS RELEASE. 

  

			
	  

	Robert Neville
		
	Date:	 	  

  

			
	ACKNOWLEDGED AND ACCEPTED:
	SAVARA INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  
 A-6 

 SCHEDULE I 

SCHEDULE OF EQUITY OWNED BY MR. ROBERT NEVILLE 

As of March 19, 2012 
  

							
	 Certificate Number
	  	 Number of Shares
	  	 Date of Issuance
	  	 Agreement

	 C-07
	  	370,333	  	July 31, 2008	  	Stock Restriction Agreement dated July 31, 2008
	 C-14
	  	2,267	  	December 11, 2009	  	Stock Restriction Agreement dated December 11, 2009
	 C-16
	  	2,400	  	January 14, 2010	  	Stock Restriction Agreement dated January 14, 2010
	 C-20
	  	74,000	  	December 17, 2010	  	Stock Restriction Agreement dated December 17, 2010
	 C-32
	  	3,907	  	August 30, 2011	  	Stock Issuance Agreement dated August 30, 2011
	 C-33
	  	20,000	  	October 14, 2011	  	Stock Issuance Agreement dated October 14, 2011
	 C-36
	  	39,000	  	December 16, 2011	  	Stock Issuance Agreement dated December 16, 2011
		  	  
	  		  	
	 TOTAL
	  	511,907

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