Document:

EX-4.7

 Exhibit 4.7 

AUTOLUS THERAPEUTICS PLC 

AND 

                    ,
AS WARRANT AGENT 
 FORM OF DEBT
SECURITIES 
 WARRANT AGREEMENT 

DATED AS OF
                     

 AUTOLUS THERAPEUTICS PLC FORM
OF DEBT SECURITIES WARRANT AGREEMENT 

THIS DEBT SECURITIES WARRANT
AGREEMENT (this “Agreement”), dated as of [●], between AUTOLUS THERAPEUTICS
PLC, a company incorporated in England and Wales under company number 11185179 and having its registered office at Forest House, 58 Wood Lane, London W12 7RZ (the “Company”), and [●], a
[corporation] [national banking association] organized and existing under the laws of [●] and having a corporate trust office in [●], as warrant agent (the “Warrant Agent”). 

WHEREAS, the Company has entered into an indenture dated as of [●] (the “Indenture”), with [●], as
trustee (such trustee, and any successors to such trustee, herein called the “Trustee”), providing for the issuance from time to time of its debt securities, to be issued in one or more series as provided in the Indenture
(the “Debt Securities”); 
 WHEREAS, the Company proposes to sell
[If Warrants are sold with other securities —[title of such other securities being offered] (the “Other Securities”) with] warrant certificates evidencing one or more warrants (the
“Warrants” or, individually, a “Warrant”) representing the right to purchase [title of Debt Securities purchasable through exercise of Warrants] (the “Warrant Debt Securities”),
such warrant certificates and other warrant certificates issued pursuant to this Agreement being herein called the “Warrant Certificates”; and 

WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing so to act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set forth, among other things, the form and provisions of
the Warrant Certificates and the terms and conditions on which they may be issued, registered, transferred, exchanged, exercised and replaced. 

NOW THEREFORE, in consideration of the premises and of the mutual agreements
herein contained, the parties hereto agree as follows: 
 ARTICLE 1 

ISSUANCE OF WARRANTS AND EXECUTION AND 

DELIVERY OF WARRANT CERTIFICATES 

1.1    Issuance of Warrants. [If Warrants alone — Upon issuance, each
Warrant Certificate shall evidence one or more Warrants.] [If Other Securities and Warrants — Warrant Certificates will be issued in connection with the issuance of the Other Securities but shall be separately transferable and
each Warrant Certificate shall evidence one or more Warrants.] Each Warrant evidenced thereby shall represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Debt Security. [If Other Securities and
Warrants — Warrant Certificates will be issued with the Other Securities and each Warrant Certificate will evidence [●] Warrants for each [$[●] principal amount] [[●] shares] of Other Securities issued.] 

1.2    Execution and Delivery of Warrant Certificates. Each Warrant Certificate,
whenever issued, shall be in registered form substantially in the form set forth in Exhibit A hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other marks of identification or
designation and such legends or endorsements printed, lithographed or engraved thereon as the officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform to usage.
The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive 

  
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officers, presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers, controllers, assistant controllers, secretaries or
assistant secretaries under its corporate seal reproduced thereon. Such signatures may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates. The seal of the Company
may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant Certificates. 

No Warrant Certificate shall be valid for any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate
has been countersigned by the manual signature of the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company shall be conclusive evidence that the Warrant Certificate so countersigned has been duly
issued hereunder. 
 In case any officer of the Company who shall have signed any of the Warrant Certificates either manually or by
facsimile signature shall cease to be such officer before the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates may be countersigned and delivered notwithstanding that the
person who signed such Warrant Certificates ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Warrant Certificate, shall be
the proper officers of the Company, although at the date of the execution of this Agreement any such person was not such officer. 
 The
term “holder” or “holder of a Warrant Certificate” as used herein shall mean any person in whose name at the time any Warrant Certificate shall be registered upon the books to be maintained by the
Warrant Agent for that purpose. 
 1.3    Issuance of Warrant Certificates. Warrant
Certificates evidencing the right to purchase Warrant Debt Securities may be executed by the Company and delivered to the Warrant Agent upon the execution of this Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt of
Warrant Certificates duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant Certificates to or upon the order of the Company. 

ARTICLE 2 
 WARRANT
PRICE, DURATION AND EXERCISE OF WARRANTS 
 2.1    Warrant Price. During the period specified in
Section 2.2, each Warrant shall, subject to the terms of this Agreement and the applicable Warrant Certificate, entitle the holder thereof to purchase the principal amount of Warrant Debt Securities specified in the applicable Warrant
Certificate at an exercise price of [●]% of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which
interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their initial issuance.] [The original issue discount ($[●] for each $1,000 principal amount
of Warrant Debt Securities) will be amortized at a [●]% annual rate, computed on a[n] [semi-] annual basis [using a 360-day year consisting of twelve 30-day
months].] Such purchase price for the Warrant Debt Securities is referred to in this Agreement as the “Warrant Price. 

2.2    Duration of Warrants. Each Warrant may be exercised in whole or in part at any
time, as specified herein, on or after [the date thereof] [●] and at or before [●] p.m., [City] time, on [●] or such later date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates
mailed to their addresses as set forth in the record books of the Warrant Agent (the “Expiration Date”). Each Warrant not exercised at or before [●] p.m., [City] time, on the Expiration Date shall become void, and all
rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease. 

  
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 2.3    Exercise of Warrants. 

(a)    During the period specified in Section 2.2, the Warrants may be exercised to purchase a whole number of
Warrant Debt Securities in registered form by providing certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America, [in cash or by certified check or
official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant Debt Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate
trust office, provided that such exercise is subject to receipt within five business days of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Debt Securities set forth on the reverse side of
the Warrant Certificate properly completed and duly executed. The date on which payment in full of the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on
which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of the Warrant Price, the transfer books for the Warrant Debt Securities purchasable upon the exercise of such
Warrants shall be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person so designated to be named as the holder of record of such Warrant Debt Securities on such
date, but shall be effective to constitute such person as the holder of record of such Warrant Debt Securities for all purposes at the opening of business on the next succeeding day on which the transfer books for the Warrant Debt Securities
purchasable upon the exercise of such Warrants shall be opened, and the certificates for the Warrant Debt Securities in respect of which such Warrants are then exercised shall be issuable as of the date on such next succeeding day on which the
transfer books shall next be opened, and until such date the Company shall be under no duty to deliver any certificate for such Warrant Debt Securities. The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an
account of the Company maintained with it and shall advise the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The Warrant Agent shall promptly
confirm such telephone advice to the Company in writing. 
 (b)    The Warrant Agent shall, from time to time, as
promptly as practicable, advise the Company of (i) the number of Warrant Debt Securities with respect to which Warrants were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect
to delivery of the Warrant Debt Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing the balance, if any, of the Warrants for the remaining Warrant Debt Securities after such
exercise, and (iv) such other information as the Company or the Trustee shall reasonably require. 

(c)    As soon as practicable after the exercise of any Warrant, the Company shall issue pursuant to the Indenture,
in authorized denominations, to or upon the order of the holder of the Warrant Certificate evidencing such Warrant the Warrant Debt Securities to which such holder is entitled, in fully registered form, registered in such name or names as may be
directed by such holder. If fewer than all of the Warrants evidenced by such Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, a new Warrant
Certificate evidencing Warrants for the number of Warrant Debt Securities remaining unexercised. 
 (d)    The
Company shall not be required to pay any stamp or other tax or other governmental charge required to be paid in connection with any transfer involved in the issue of the Warrant Debt Securities, and in the event that any such transfer is involved,
the Company shall not be required to issue or deliver any Warrant Debt Securities until such tax or other charge shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge is due. 

  
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 (e)    Prior to the issuance of any Warrants there shall have
been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its authorized but unissued Warrant Debt Securities, a number of shares sufficient to provide for the exercise of the Warrants. 

ARTICLE 3 
 OTHER
PROVISIONS RELATING TO RIGHTS OF HOLDERS OF 
 WARRANT CERTIFICATES 

3.1    No Rights as Holder of Warrant Debt Securities Conferred by Warrants
or Warrant Certificates. No Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to any of the rights of a holder of Warrant Debt Securities, including, without limitation, the right to receive
the payment of principal of (or premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants in the Indenture. 

3.2    Lost, Stolen, Mutilated or Destroyed Warrant Certificates. Upon receipt by the
Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant Agent and the Company and,
in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a bona fide
purchaser, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the
same tenor and evidencing Warrants for a like principal amount of Warrant Debt Securities. Upon the issuance of any new Warrant Certificate under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection therewith. Every substitute Warrant Certificate executed and delivered pursuant to this
Section 3.2 in lieu of any lost, stolen or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not the lost, stolen or destroyed Warrant Certificate shall be at any time enforceable by
anyone, and shall be entitled to the benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions of this Section 3.2 are exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the replacement of mutilated, lost, stolen or destroyed Warrant Certificates. 

3.3    Holder of Warrant Certificate May Enforce Rights. Notwithstanding any of
the provisions of this Agreement, any holder of a Warrant Certificate, without the consent of the Warrant Agent, , the Trustee, the holder of any Warrant Debt Securities or the holder of any other Warrant Certificate, may, in such holder’s own
behalf and for such holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such holder’s right to exercise the Warrants evidenced by
such holder’s Warrant Certificate in the manner provided in such holder’s Warrant Certificates and in this Agreement. 

3.4    Merger, Sale, Conveyance or Lease. In case of (a) any share exchange, merger or similar
transaction of the Company with or into another person or entity (other than a share exchange, merger or similar transaction in which the Company is the acquiring or surviving corporation) or (b) the sale, exchange, lease, transfer or other
disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such case, a “Reorganization Event”), then, as a condition of such 

  
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Reorganization Event, lawful provisions shall be made, and duly executed documents evidencing the same from the Company’s successor shall be delivered to the holders of the Warrants, so that
such successor shall succeed to and be substituted for the Company, and assume all the Company’s obligations under, this Agreement and the Warrants. The Company shall thereupon be relieved of any further obligation hereunder or under the
Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up or liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in the
name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the Company, and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Debt
Securities upon exercise of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and benefit under this Agreement as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as
though all of such Warrants had been issued at the date of the execution hereof. In any case of any such Reorganization Event, such changes in phraseology and form (but not in substance) may be made in the Warrants thereafter to be issued as may be
appropriate. The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence that any such Reorganization Event complies with the provisions of this Section 3.4. 

3.5    Notice to Warrantholders. In case the Company shall (a) effect any
Reorganization Event or (b) make any distribution on or in respect of the [title of Warrant Debt Securities] in connection with the dissolution, liquidation or winding up of the Company, then the Company shall mail to each holder of Warrants at
such holder’s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the applicable date hereinafter specified, a notice stating the date on which such Reorganization Event, dissolution, liquidation or winding
up is expected to become effective, and the date as of which it is expected that holders of [title of Warrant Debt Securities] of record shall be entitled to exchange their shares of [title of Warrant Debt Securities] for securities or other
property deliverable upon such Reorganization Event, dissolution, liquidation or winding up. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect any such transaction. 

ARTICLE 4 
 EXCHANGE AND
TRANSFER OF WARRANT CERTIFICATES 
 4.1    Exchange and Transfer of Warrant Certificates. Upon surrender at
the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered in whole or in part;
provided that such other Warrant Certificates evidence Warrants for the same aggregate principal amount of Warrant Debt Securities as the Warrant Certificates so surrendered. The Warrant Agent shall keep, at its corporate trust office, books in
which, subject to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its
corporate trust office for exchange or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written instructions for transfer, all in form satisfactory to the Company and the Warrant
Agent. No service charge shall be made for any exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient to cover any stamp or other tax or other governmental charge that may be imposed in
connection with any such exchange or registration of transfer. Whenever any Warrant Certificates are so surrendered for exchange or registration of transfer, an authorized officer of the Warrant Agent shall manually countersign and deliver to the
person or persons entitled thereto a Warrant Certificate or Warrant Certificates duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be required to effect any exchange or registration of transfer which will
result in the issuance of a Warrant Certificate evidencing a Warrant for a fraction of a Warrant Debt Security or a number of Warrants for a whole number of Warrant Debt Securities and a fraction of a Warrant Debt

  
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Security. All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be the valid obligations of the Company, evidencing the same obligations and
entitled to the same benefits under this Agreement as the Warrant Certificate surrendered for such exchange or registration of transfer. 

4.2    Treatment of Holders of Warrant Certificates. The
Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced
thereby, any notice to the contrary notwithstanding. 
 4.3    Cancellation of Warrant
Certificates. Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates
surrendered or so delivered to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or
in lieu thereof. The Warrant Agent shall deliver to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company. 

ARTICLE 5 
 CONCERNING
THE WARRANT AGENT 
 5.1    Warrant Agent. The Company hereby appoints [●] as Warrant Agent of
the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the conditions herein set forth, and [●] hereby accepts such appointment. The Warrant Agent shall have the powers and authority granted to and
conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf of the Company as the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers and
authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof. 

5.2    Conditions of Warrant Agent’s Obligations. The Warrant Agent
accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant Certificates shall be
subject: 
 (a)    Compensation and Indemnification. The Company agrees promptly to pay the
Warrant Agent the compensation to be agreed upon with the Company for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable
out-of-pocket expenses (including reasonable counsel fees) incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the
services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense incurred without negligence, bad faith or willful misconduct on the part of
the Warrant Agent, arising out of or in connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim of such liability. 

(b)    Agent for the Company. In acting under this Agreement and in connection
with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant Certificates or beneficial owners of Warrants.

  
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 (c)    Counsel. The Warrant Agent may consult with counsel
satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in
accordance with the advice of such counsel. 
 (d)    Documents. The Warrant Agent shall be protected and
shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be
genuine and to have been presented or signed by the proper parties. 
 (e)    Certain Transactions. The
Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by
applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of holders of Warrant Debt Securities or other obligations of
the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a party, including, without limitation, as
Trustee under the Indenture. 
 (f)    No Liability for Interest. Unless otherwise agreed
with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates. 

(g)    No Liability for Invalidity. The Warrant Agent shall have no liability with respect to
any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon). 

(h)    No Responsibility for Representations. The Warrant Agent shall not be responsible for
any of the recitals or representations herein or in the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company. 

(i)    No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are
herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take
any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or
responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant
Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written
demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except as
provided in Section 6.2 hereof, to make any demand upon the Company. 
 5.3    Resignation, Removal and
Appointment of Successors. 
 (a)    The Company agrees, for the benefit of the holders from time to time of
the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder until all the Warrants have been exercised or are no longer exercisable. 

  
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 (b)    The Warrant Agent may at any time resign as agent by
giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice is given
unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it of an instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall
become effective. Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its
organization to exercise corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under Section 5.2(a) shall continue to the extent set forth therein notwithstanding the
resignation or removal of the Warrant Agent. 
 (c)    In case at any time the Warrant Agent shall resign, or
shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable Federal or
state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other similar official) of the Warrant Agent or its property or
affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, or a decree or order for
relief by a court having jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state
bankruptcy, insolvency or similar law, or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the
Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent,
qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance by the successor Warrant Agent of such
appointment, the Warrant Agent shall cease to be Warrant Agent hereunder. 
 (d)    Any successor Warrant Agent
appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall
become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and
disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as
Warrant Agent hereunder. 
 (e)    Any corporation into which the Warrant Agent hereunder may be merged or
converted or any corporation with which the Warrant Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation to which the Warrant Agent shall
sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent, provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution or filing of any
paper or any further act on the part of any of the parties hereto. 

  
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 ARTICLE 6 

MISCELLANEOUS 

6.1    Amendment. This Agreement may be amended by the parties hereto, without the consent of the holder of
any Warrant Certificate, for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect to matters or questions arising under this Agreement as
the Company and the Warrant Agent may deem necessary or desirable; provided that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates. 

6.2    Notices and Demands to the Company and Warrant Agent.
If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand to the
Company. 
 6.3    Addresses. Any communication from the Company to the Warrant Agent with respect to this
Agreement shall be addressed to [●], Attention: [●] and any communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to Autolus Inc., 805 King Farm Blvd., Suite 550, Rockville, MD 20850,
Attention: Alex Driggs (or such other address as shall be specified in writing by the Warrant Agent or by the Company). 

6.4    Governing Law. This Agreement and each Warrant Certificate issued hereunder shall be governed by and
construed in accordance with the laws of the State of New York. 
 6.5    Delivery of
Prospectus. The Company shall furnish to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of 1933, as amended, relating to the Warrant Debt Securities deliverable upon exercise of the
Warrants (the “Prospectus”), and the Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant Certificate evidencing such Warrant, prior to or concurrently with
the delivery of the Warrant Debt Securities issued upon such exercise, a Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy of such Prospectus. 

6.6    Obtaining of Governmental Approvals. The Company will from time to time take all action
which may be necessary to obtain and keep effective any and all permits, consents and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including without limitation a
registration statement in respect of the Warrants and Warrant Debt Securities under the Securities Act of 1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant Debt
Securities issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period during which the Warrants are exercisable. 

6.7    Persons Having Rights Under the Agreement. Nothing in this Agreement shall give to any person other
than the Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement. 

6.8    Headings. The descriptive headings of the several Articles and Sections of this Agreement are
inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. 

  
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 6.9    Counterparts. This Agreement may be executed in any
number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts shall together constitute but one and the same instrument. 

6.10    Inspection of Agreement. A copy of this Agreement shall be available at all reasonable
times at the principal corporate trust office of the Warrant Agent for inspection by the holder of any Warrant Certificate. The Warrant Agent may require such holder to submit such holder’s Warrant Certificate for inspection by it. 

  
 10 

 IN WITNESS
WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written. 

 

			
	AUTOLUS THERAPEUTICS PLC, as Company
		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	ATTEST:	 	 
		 	 

  

			
	 COUNTERSIGNED
  

[●], as Warrant Agent

		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	ATTEST:	 	 
		 	 

 [SIGNATURE PAGE TO AUTOLUS
THERAPEUTICS PLC. DEBT SECURITIES WARRANT AGREEMENT] 

 EXHIBIT A 

FORM OF WARRANT CERTIFICATE 

[FACE OF WARRANT CERTIFICATE] 
  

			
	 [Form of Legend if Warrants are not immediately

exercisable.]
	  	[Prior to [●], Warrants evidenced by this Warrant Certificate cannot be exercised.]

 EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT AGENT AS PROVIDED HEREIN 

VOID AFTER [●] P.M., [City] time, ON [●]. 

 AUTOLUS THERAPEUTICS PLC 

WARRANT CERTIFICATE REPRESENTING 

WARRANTS TO PURCHASE 

[TITLE OF WARRANT DEBT SECURITIES] 
  

			
	No. [●]	  	[●] Warrants

 This certifies that [●] or registered assigns is the registered owner of the above indicated number of Warrants, each
Warrant entitling such owner to purchase, at any time [after [●] p.m., [City] time, [on [●] and] on or before [●] p.m., [City] time, on [●], $[●] principal amount of [TITLE OF WARRANT DEBT SECURITIES] (the
“Warrant Debt Securities”), of Autolus Therapeutics plc. (the “Company”) issued or to be issued under the Indenture (as hereinafter defined), on the following basis: during the period from [●],
through and including [●], each Warrant shall entitle the Holder thereof, subject to the provisions of this Agreement, to purchase the principal amount of Warrant Debt Securities stated in the Warrant Certificate at the warrant price (the
“Warrant Price”) of [●]% of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from
which interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their original issuance]. [The original issue discount ($[●] for each $1,000 principal
amount of Warrant Debt Securities) will be amortized at a [●]% annual rate, computed on a[n] [semi-]annual basis [using a 360-day year consisting of twelve 30-day
months]. The Holder may exercise the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank
check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price for each Warrant Debt Security with respect to which this Warrant is exercised to the Warrant Agent (as hereinafter defined) and by
surrendering this Warrant Certificate, with the purchase form on the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor as warrant agent (the “Warrant Agent”), which is, on
the date hereof, at the address specified on the reverse hereof, and upon compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined). 

The term “Holder” as used herein shall mean the person in whose name at the time this Warrant Certificate shall be registered upon the
books to be maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement. 
 The Warrants evidenced by this Warrant
Certificate may be exercised to purchase Warrant Debt Securities in the principal amount of $1,000 or any integral multiple thereof in registered form. Upon any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there
shall be issued to the Holder hereof a new Warrant Certificate evidencing Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised. 

This Warrant Certificate is issued under and in accordance with the Warrant Agreement dated as of [●] (the “Warrant Agreement”),
between the Company and the Warrant Agent and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof. Copies of the Warrant
Agreement are on file at the above-mentioned office of the Warrant Agent. 

 The Warrant Debt Securities to be issued and delivered upon the exercise of Warrants evidenced by this
Warrant Certificate will be issued under and in accordance with an Indenture, dated as of [●] (the “Indenture”), between the Company and [●], as trustee (such trustee, and any successors to such trustee, the
“Trustee”)] and will be subject to the terms and provisions contained in the Warrant Debt Securities and in the Indenture. Copies of the Indenture, including the form of the Warrant Debt Securities, are on file at the
corporate trust office of the Trustee. 
 Transfer of this Warrant Certificate may be registered when this Warrant Certificate is surrendered at the
corporate trust office of the Warrant Agent by the registered owner or such owner’s assigns, in the manner and subject to the limitations provided in the Warrant Agreement. 

After countersignature by the Warrant Agent and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at the
corporate trust office of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate principal amount of Warrant Debt Securities. 

This Warrant Certificate shall not entitle the Holder hereof to any of the rights of a holder of the Warrant Debt Securities, including, without limitation,
the right to receive payments of principal of (and premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants of the Indenture. 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 This Warrant Certificate shall not be valid or obligatory for any purpose until
countersigned by the Warrant Agent. 
 IN WITNESS WHEREOF, the Company has caused this
Warrant to be executed in its name and on its behalf by the facsimile signatures of its duly authorized officers. 

Dated:                        

  

			
	AUTOLUS THERAPEUTICS PLC, as Company
		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	ATTEST:	 	 
		 	 

  

			
	 COUNTERSIGNED
  

[●], as Warrant Agent

		
	By:	 	 
	Name:	 	 
	Title:	 	 
		
	ATTEST:	 	 
		 	 

 [REVERSE OF WARRANT CERTIFICATE] 

(Instructions for Exercise of Warrant) 

To exercise any Warrants evidenced hereby for Warrant Debt Securities (as hereinafter defined), the Holder must pay, in lawful money of the
United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price in full for Warrants exercised, to [●] [address of
Warrant Agent], Attention: [●], which payment must specify the name of the Holder and the number of Warrants exercised by such Holder. In addition, the Holder must complete the information required below and present this Warrant Certificate in
person or by mail (certified or registered mail is recommended) to the Warrant Agent at the appropriate address set forth above. This Warrant Certificate, completed and duly executed, must be received by the Warrant Agent within five business days
of the payment. 
 (To be executed upon exercise of Warrants) 

The undersigned hereby irrevocably elects to exercise             
Warrants, evidenced by this Warrant Certificate, to purchase                  $[●] principal amount of the [TITLE OF WARRANT DEBT SECURITIES] (the
“Warrant Debt Securities”), of Autolus Therapeutics plc and represents that the undersigned has tendered payment for such Warrant Debt Securities, in lawful money of the United States of America, [in cash or by certified
check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], to the order of Autolus Therapeutics plc, c/o [insert name and address of Warrant Agent], in the amount of
$                 in accordance with the terms hereof. The undersigned requests that said principal amount of Warrant Debt Securities be in fully registered form
in the authorized denominations, registered in such names and delivered all as specified in accordance with the instructions set forth below. 

If the number of Warrants exercised is less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate
evidencing the Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised be issued and delivered to the undersigned unless otherwise specified in the instructions below. 

 

									
					
	Dated:      	 	 	 		 	Name:      	 	 
		 		 		 		 	Please Print

  

	
	Address:
	
	   

	(Insert Social Security or Other Identifying Number of Holder)

  

			
	Signature Guaranteed:	 	 
		 	Signature

 (Signature must conform in all respects to name of holder as specified on the face of this Warrant Certificate and must bear a
signature guarantee by a FINRA member firm). 
 This Warrant may be exercised at the following addresses: By hand at: 

[●] 

 By mail at: 

[Instructions as to form and delivery of Warrant Debt Securities and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Debt
Securities remaining unexercised—complete as appropriate.] 

 ASSIGNMENT 

[Form of assignment to be executed if Warrant Holder desires to transfer Warrant] 

FOR VALUE RECEIVED,
                             hereby sells, assigns and transfers unto: 

 

					
	   
	 		 	   

	(Please print name and address including zip code)	 		 	Please print Social Security or other identifying number

 the right represented by the within Warrant to purchase
                 aggregate principal amount of [Title of Warrant Debt Securities] of Autolus therapeutics plc to which the within Warrant relates and appoints
                                        
attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises. 
  

									
					
	Dated:      	 	 	 		 	Name:      	 	 
		 		 		 		 	Signature

 (Signature must conform in all respects to name of holder as specified on the face of the Warrant) 

 

	
	Signature GuaranteedNeuBase Therapeutics, Inc. 8-K/A

Exhibit
10.1

July
11, 2019

 

Dietrich
Stephan

dstephan@neubasetherapeutics.com

 

	Re:	Offer of Employment

Dear
Mr. Stephan:

I
am very pleased to confirm our offer to you of full-time employment with NeuBase Therapeutics, Inc. (the “Company”)
in the position of President and Chief Executive Officer. Your effective start date is immediately following the completion of
the Company’s proposed merger with Ohr Pharmaceutical, Inc. (the “Merger”). You initially will work out
of the Company’s office in Pittsburgh, Pennsylvania. The terms of our offer and the benefits currently provided by the Company
are as follows (this “Agreement”):

1.

Starting
Salary; Signing Bonus; Discretionary Bonus. Your starting salary will be $450,000.00 per year, less payroll deductions
and withholdings, payable in accordance with the Company’s standard policies and procedures, and will be subject to review
from time to time in accordance with the Company’s policies. You will be eligible for a discretionary annual bonus in an
amount up to 35% of your base salary, as determined by the Company in its sole discretion, provided you remain employed by the
Company on the date bonuses are paid. You agree that, upon the completion of the Merger, that certain Executive Employment Agreement,
dated as of December 22, 2018 (“Former Employment Agreement”), by and between you and NeuBase Corporation (f/k/a
NeuBase Therapeutics, Inc.) (“NeuBase Corporation”) is deemed terminated in its entirety and of no further
force or effect. However, pursuant to the obligations of NeuBase Corporation under the Former Employment Agreement, the Company
will pay you a bonus in the amount of $150,000, less payroll deductions and withholdings (the “Bonus”) consistent
with the terms of the Former Employment Agreement, contingent upon the completion of the Merger. The Company will pay you the
Bonus no later than August 28, 2019, and in no event shall you be entitled to more than one payment of the Bonus, if payable. 

2.

Benefits;
Vacation. You will be entitled to participate in regular health insurance, bonus and other employee benefit plans currently
and hereafter maintained by the Company of general applicability to other officers of the Company, including, without limitation,
the Company’s group medical, dental, vision, disability, life insurance and flexible-spending account plans, to the extent
that you are eligible under the applicable plan documents. The Company reserves the right to cancel or change the benefit plans
and programs it offers to its employees at any time. The Company currently has 10 paid holidays each year. Paid time-off may be
taken in accordance with Company policies applicable to officers of the Company. Pursuant to the obligations of NeuBase Corporation
under the Former Employment Agreement, the Company will pay you $2,000 per month for your supplemental life insurance and disability
insurance policies in accordance with the Company’s normal payroll practices (subject to required withholding), contingent
upon the completion of the Merger. In no event shall you be entitled to more than $2,000 per month for the noted insurance benefits
under the Former Employment Agreement, if payable.

    	 	1	 

     

    

3.

Policies;
Confidentiality. As a Company employee, you will be expected to abide by Company rules, procedures and policies, as adopted
or revised from time to time, and acknowledge in writing that you have read the Company’s Employee Handbook (once it becomes
available). As an employee of the Company, you will have access to certain confidential information of the Company and you may,
during the period of time that you are an employee of the Company, develop certain information or inventions that will be the
property of the Company. To protect the interests of the Company, your At-Will Employment, Confidentiality Information, Invention
Assignment, and Arbitration Agreement, dated December 22, 2018, by and between you and your former employer (the “Confidentiality
Agreement”) will continue to apply and will be assumed by the Company. We wish to impress upon you that we do not want
you to, and we hereby direct you not to, violate any other obligations you may have to any former employer. During the period
of time that you render services to the Company, absent approval from the Company’s Board of Directors (the “Board”),
you agree not to engage in any employment, business, or activity that is in any way competitive with the business or proposed
business of the Company. You will disclose to the Company in writing any other gainful employment, business or activity that you
are currently associated with or participate in that competes with the Company. During the period of time that you are
an employee of the Company, unless approved by the Board, you will not assist any other person or organization in competing with
the Company or in preparing to engage in competition with the business or proposed business of the Company. The Company acknowledges
and agrees that you have fully disclosed your roles with (1) Peptilogics, (2) Sharp Edge Labs, (3) FarmaceuticalRx, (4) Epistemix
and (5) Cyto Ventures, and that such activities do not constitute a breach of this Agreement, including, but not limited to Sections
3 and 8 hereof, or that certain Confidentiality Agreement. You represent that (i) this letter, (ii) the Confidentiality
Agreement and (iii) your commencement of employment with the Company, will not violate any agreement currently in place between
yourself and current or past employers.

4.

At
Will Employment. While we look forward to a long and profitable relationship, should you decide to accept our offer, you
will be an at-will employee of the Company, which means your employment relationship with the Company can be terminated by either
of you or the Company for any reason, at any time, with or without prior notice and with or without Cause (as defined below).
Any statements or representations to the contrary (and, indeed, any statements contradicting any provision in this letter) should
be regarded by you as ineffective. Further, your participation in any equity or benefit plan or program is not to be regarded
as assuring you of continuing employment for any particular period of time. Any modification or change in your at will employment
status may only occur by way of a written agreement signed by you and the Board or a duly appointed officer of the Company other
than yourself. For purposes of this Agreement, “Cause” means: (i) your continued and willful failure to substantially
perform the material duties and obligations under this Agreement (for reasons other than death or Disability), which failure,
if curable within the discretion of the Company, is not cured to the reasonable satisfaction of the Company within thirty (30)
days after receipt of written notice from the Company of such failure; (ii) your failure or refusal to comply with the policies,
standards and regulations established by the Company from time to time which failure, if curable in the discretion of the Company,
is not cured to the reasonable satisfaction of the Company within thirty (30) days after receipt of written notice of such failure
from the Company; (iii) any act of personal dishonesty, fraud, embezzlement, misrepresentation, or other unlawful act committed
by you that benefits you at the expense of the Company; (iv) your violation of a federal or state law or regulation applicable
to the Company’s business; (v) your plea of nolo contendere or guilty to, any misdemeanor involving moral turpitude or any
felony under the laws of the United States or any state; (vi) your material breach of the terms of this Agreement or the Confidentiality
Agreement; or (vii) your continued failure to take such lawful actions as directed by the Board.

    	 	2	 

     

    

5.

Severance.
If your employment is terminated by the Company without Cause, then, subject to your execution, delivery and non-revocation of
a release of claims in a form reasonably satisfactory to the Company such that the release becomes irrevocably effective within
the time period specified by the Company (which such period, the “Release Period,” shall be not less than 21
days after your receipt of the release of claims) and subject to the limitations of Section 14 below, the Company will provide
you with the following: (A) the Company will pay you continuing severance pay at a rate equal to one hundred percent (100%) of
your salary, as in effect prior to termination without giving effect to any material reduction in salary made within 30 days of
termination (less applicable withholding), for a period of twelve (12) months from the date of such termination, to be paid periodically
in accordance with the Company’s normal payroll practice; (B) subject to Board discretion, the Company will pay you a prorated
discretionary annual bonus for the year in which the termination occurs; and (C) no other severance or benefits of any kind, unless required by law or pursuant to any written Company
plans or policies, as then in effect (collectively, the “Severance”). Notwithstanding the foregoing, in the
event of the termination of your employment for any reason you shall be entitled to receive: (A) your salary through the date
of termination; (B) reimbursement of all business expenses for which you are entitled to be reimbursed pursuant to the Company’s
expense reimbursement policy, but for which you have not yet been reimbursed; (C) if you are eligible and timely elect to continue
your health insurance coverage, your health insurance coverage pursuant to your rights under COBRA, at your cost, to the extent
required and available by law; and (D) all other amounts required under applicable law. The continued base salary component of
the Severance (clause A) shall accrue until the release of claims becomes irrevocably effective, with accrued amounts paid on
the Company’s second regularly scheduled payroll date after the release of claims becomes irrevocably effective; provided,
however, if Release Period spans two calendar years, in no event will any cash component of Severance be paid prior to January
1 of the second calendar year. The discretionary annual bonus component of the Severance (clause B), if any, will be paid on the
date bonuses for the year in which the termination occurs are paid to other officers of the Company, but not before January 1
or after December 31 of the year following the year in which your employment is terminated.

6.

Arbitration.
You and the Company agree to submit to mandatory binding arbitration any and all claims arising out of or related to your employment
with the Company and the termination thereof, including, but not limited to, claims for unpaid wages, wrongful termination, torts,
equity or phantom equity in the Company, and/or discrimination (including harassment) based upon any federal, state or local ordinance,
statute, regulation or constitutional provision except that each party may, at its, his or her option, seek injunctive relief
in court related to claims arising under the Confidentiality Agreement or otherwise relating to the improper use, disclosure or
misappropriation of a party’s proprietary, confidential or trade secret information. THE PARTIES HEREBY WAIVE ANY RIGHTS
THEY MAY HAVE TO TRIAL BY JURY IN REGARD TO SUCH CLAIMS. All arbitration hearings shall be conducted in Pittsburgh, Pennsylvania.
This letter does not apply or preclude resort to government agency processes or proceedings, and does not restrict your right
to file administrative claims you may bring before any government agency where, as a matter of law, the parties may not restrict
the employee’s ability to file such claims (including, but not limited to, the National Labor Relations Board, the Equal
Employment Opportunity Commission and the Department of Labor). However, the parties agree that, to the fullest extent permitted
by law, arbitration shall be the exclusive remedy for the subject matter of such administrative claims. The arbitration shall
be conducted through JAMS before a single neutral arbitrator, in accordance with the JAMS employment arbitration rules then in
effect, a copy of which can be obtained at https://www.jamsadr.com/rules-employment-arbitration/. Except as otherwise may be required
by law, the parties to the arbitration shall share equally the JAMS fee and the arbitrator’s fee; provided, however, that
the arbitrator at the conclusion of the arbitration shall award costs and fees to the prevailing party. The arbitrator shall issue
a written decision that contains the essential findings and conclusions on which the decision is based. The Federal Arbitration
Act shall govern this section, but if for any reason the FAA is held to be inapplicable, then the law of arbitrability of Pennsylvania
shall apply.

    	 	3	 

     

    

7.

Full-Time
Employee. Since you are a full-time employee, during the term of your employment you agree to devote your best efforts
to the interests of the Company and not to engage in employment that competes with or otherwise has an adverse effect on the Company’s
business or your ability to perform your services hereunder.

8.

Electronic
Communication. Company may, in its sole discretion, decide to deliver to you by email or any other electronic means any
documents or notices related to this letter, securities of the Company or any of its affiliates or any other matter, including
documents and/or notices required to be delivered to you by applicable securities law or any other law or Company’s Certificate
of Incorporation or Bylaws. You hereby consent to receive such documents and notices by such electronic delivery (including pdf
or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable
law) and agree to participate through any on-line or electronic system that may be established and maintained by Company or a
third party designated by Company.

9.

Entire Agreement; Applicable Law. This offer and the Confidentiality Agreement, once accepted, constitute the entire
agreement between you and the Company with respect to the subject matter hereof and thereof and supersede all prior offers, negotiations
and agreements, if any, whether written or oral, relating to such subject matter. You acknowledge that neither the Company nor
its agents have made any promise, representation or warranty whatsoever, either express or implied, written or oral, which is
not contained in this letter for the purpose of inducing you to countersign this letter, and you acknowledge that you have countersigned
this letter in reliance only upon such promises, representations and warranties as are contained herein. Except to the extent
governed by federal law, this letter will be construed and enforced according to the laws of the State of Pennsylvania, other
than the choice of law provisions thereof.

10.

Taxes.
The Company shall withhold taxes and other amounts from payments it makes pursuant to this letter as it reasonably determines.

11.

Validity/Severability.
The invalidity or unenforceability of any provision of this letter shall not affect the validity or enforceability of any other
provision of this letter, which shall remain in full force and effect. If any provision of this letter is determined by any court
or arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced
to the maximum extent possible given our intent hereto.

 

    	 	4	 

     

    

12.

Acceptance.
If you decide to accept our offer, please countersign the enclosed copy of this letter in the space indicated, as well as the
Confidentiality Agreement and return both documents to me. Your signatures will acknowledge that you have read and understood
and agreed to the terms and conditions of this letter and the Confidentiality Agreement. Should you have anything else that you
wish to discuss, please do not hesitate to call me. For the avoidance of doubt, in the event the Merger expires pursuant to the
terms of the applicable transaction documentation without closing, this letter shall be without force or effect.

13.

Background
Check. Our offer of employment is contingent upon completion of a satisfactory background check (including criminal history)
conducted in accordance with applicable law.

14.

Section
409A.

(a)

Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided to you, if any,
pursuant to this Agreement, when considered together with any other severance payments or separation benefits that are considered
deferred compensation under Section 409A (together, the “Deferred Compensation Separation Benefits”) will be paid
or otherwise provided until you have a “separation from service” within the meaning of Section 409A.

(b)

Notwithstanding
anything to the contrary in this Agreement, if you are a “specified employee” within the meaning of Section 409A at
the time of your termination (other than due to death), then the Deferred Compensation Separation Benefits that are payable within
the first six (6) months following your separation from service, will become payable on the first payroll date that occurs on
or after the date six (6) months and one (1) day following the date of your separation from service. All subsequent Deferred Compensation
Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding
anything herein to the contrary, if you die following your separation from service, but prior to the six (6) month anniversary
of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon
as administratively practicable after the date of your death and all other Deferred Compensation Separation Benefits will be payable
in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement
is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations, and the right
to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. 

(c)

Any amount paid under this Agreement that satisfies the requirements of the “short-term deferral” rule set forth in
Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Compensation Separation Benefits for purposes
of clause (a) above.

(d)

Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant
to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit will not constitute Deferred
Compensation Separation Benefits for purposes of clause (a) above. For purposes of this Agreement, “Section 409A Limit”
will mean the lesser of two (2) times: (i) your annualized compensation based upon the annual rate of pay paid to you during your
taxable year preceding your taxable year of your termination of employment as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1)
and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account
under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which your employment is terminated.

    	 	5	 

     

    

(e)

All
reimbursements and in-kind benefits provided under the Agreement shall be made or provided in accordance with the requirements
of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the period
of time specified in this Agreement, (ii) the amount of expenses eligible for reimbursement, or in kind benefits provided, during
a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar
year, (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the
year in which the expense is incurred, and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or
exchange for another benefit. 

(f)

The foregoing provisions are intended to comply with the requirements of Section 409A so that none of the severance payments and
benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein
will be interpreted to so comply. The Company and you agree to work together in good faith to consider amendments to this Agreement
and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or
income recognition prior to actual payment to you under Section 409A. Each payment in a stream of payments, including the Severance,
shall be deemed a separate payment for purposes of Section 409A.

[SIGNATURE
PAGE FOLLOWS]

 

    	 	6	 

     

    

We
look forward to the opportunity to welcome you to the Company.

	 	Very
truly yours,
	 	 
	 	 
	 	 
	 	/s/ Dietrich Stephan
	 	Dietrich
Stephan
	 	Director

 

I
have read and understood this letter and hereby acknowledge, accept and agree to the terms as set forth above and further acknowledge
that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

	By:
/s/ Dietrich Stephan	 	Date signed:	July 11, 2019
	Employee
Name: Dietrich Stephan

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