Document:

Exhibit 10.34

 

Form of Award – RSU 

(Performance-based Vesting; Deferral Provision)

 

LIFEPOINT HOSPITALS, INC.

2013 LONG-TERM INCENTIVE PLAN

Restricted stock
unit AGREEMENT

 

FOR

 

 

Grant Number ___________________

 

1.          Award
of Restricted Stock Units.    LifePoint Hospitals, Inc. (the “Company”) grants, as of
__________________ (the “Date of Grant”), to __________________ (the “Recipient”), ______________
Restricted Stock Units (the “RSUs”). Each RSU represents the Company’s unsecured obligation to pay the
Recipient, in Shares or a combination of Shares and cash, up to 200% of the Fair Market Value of a Share. The RSUs shall be subject
to the terms, provisions and restrictions set forth in this Agreement and the LifePoint Hospitals, Inc. 2013 Long-Term Incentive
Plan (the “Plan”), which is incorporated herein for all purposes. The grant of this Award, the issuance of
any Shares (or any other securities of the Company pursuant thereto) and, if applicable, payment of cash, is subject to all of
the terms and conditions herein and in the Plan. Unless otherwise provided herein, terms used herein that are defined in the Plan
and not defined herein shall have the meanings attributable thereto in the Plan.

 

2.          Vesting
of RSUs.

 

(a)          Performance
Requirement.

 

(i)          The
percentage of the Fair Market Value of a Share which is payable per RSU (the “Percentage Payable”) shall be
determined, except as otherwise provided in this Agreement, according to the table below (the “Performance Goals”),
based on the Company’s three-year annualized total shareholder return (the “3-Year TSR”) relative to a
peer group, Standard and Poor’s Global Industry Classification Standard’s Sub-industry: Health Care Facilities with
over $500.0 million in revenues or its equivalent (the “Relative 3-Year TSR”), during the Performance Period:

 

	Relative 3-Year TSR Achieved	 	Percentage Payable	 
	Below 25th Percentile	 	 	0	%
	25th Percentile	 	 	50	%
	37.5 Percentile	 	 	75	%
	50th Percentile	 	 	100	%
	62.5 Percentile	 	 	150	%
	75th Percentile or higher	 	 	200	%

 

The Percentage Payable will be determined using
straight line interpolation if the level of Relative 3-Year TSR achieved is between two of the levels specified in the chart above.

 

(ii)         The
“Performance Period” for the Award is January 1, 20__, through December 31, 20__.

 

    	 

    	 

    

 

(iii)        The
Company’s 3-Year TSR shall be determined using the Company’s stock price average for the last thirty (30) trading days
in 20__ and the last thirty (30) trading days in 20__.

 

(iv)         Payment
of the RSUs is conditioned upon the Committee certifying in writing upon the completion of the Performance Period that the Performance
Goals specified herein were achieved and, if so, the level at which the Performance Goals are achieved, except as otherwise provided
in this Agreement. If the objectives are not achieved, the RSUs will be forfeited and shall not vest and no payment shall be made
hereunder.

 

(v)          Performance
shall be determined in accordance with generally accepted accounting principles; provided, however, that such performance shall
be determined without regard to any change in accounting standards that may be required by the Financial Accounting Standards Board
during the Performance Period, and by making appropriate adjustments to account for any spin-off or sale of a subsidiary or the
disposition of assets by the Company during the Performance Period. Any such adjustments shall be made in a manner that (A) does
not result in a discretionary increase in the amount payable under the Award and (B) is otherwise consistent with the qualification
of Awards as “performance-based compensation” under Code Section 162(m) and the regulations thereunder.

 

(vi)         Except
as otherwise provided in this Agreement, there shall be no proportionate or partial vesting of the RSUs in or during the months,
days or periods prior to the Vesting Date and all vesting of the RSUs shall occur only on the Vesting Date.

 

(b)          General
Vesting   Except as otherwise provided in this Agreement,
the RSUs subject to this Agreement will vest on ___________ (the “Vesting Date”), provided that the Continuous Service
of the Recipient continues through and on the Vesting Date and the Performance Goals are met.

 

(c)          Acceleration
of Vesting Upon Death.  Notwithstanding any other provision
in this Agreement, in the event that the Recipient’s Continuous Service terminates before the Vesting Date by reason of
the Recipient’s death, the RSUs subject to this Agreement shall be immediately vested as of the date of such death, and
the Percentage Payable per RSU shall be one hundred percent (100%) or, if greater, the percentage determined pursuant to Section
2(a) above, except that such determination shall be based on the period beginning January 1, 20__ and ending on the date of the
Recipient’s death and the last thirty (30) trading days immediately prior to the Recipient’s death shall be used to
measure performance. 

 

(d)          Acceleration
of Vesting Upon Disability.   Notwithstanding any other provision in this
Agreement, in the event that the Recipient suffers a Disability prior to the Vesting Date, the RSUs subject to this Agreement shall
be immediately vested as of the date of such Disability, and the Percentage Payable per RSU shall be one hundred percent (100%)
or, if greater, the percentage determined pursuant to Section 2(a) above, except that such determination shall be based on the
period beginning January 1, 20__ and ending on the date of the Recipient’s Disability and the last thirty (30) trading days
immediately prior to the Recipient’s Disability shall be used to measure performance.

 

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(e)          Acceleration
of Vesting Upon a 409A Change in Control. Notwithstanding any other provision
in this Agreement or the Plan, upon a 409A Change in Control during the Recipient’s Continuous Service, the RSUs subject
to this Agreement shall be immediately vested as of the date of such event and the Percentage Payable per RSU shall be two hundred
percent (200%), unless either (i) the Company is the surviving entity in the 409A Change in Control and the RSU Award continues
to be outstanding after the 409A Change in Control on substantially the same terms and conditions as were applicable immediately
prior to the 409A Change in Control, or (ii) the successor company or its parent company assumes or substitutes for the RSU Award,
as determined in accordance with Section 10(c)(ii) of the Plan. Notwithstanding
the foregoing, in the event the Recipient’s Continuous Service is terminated without Cause by the Company or any Related
Entity or by such successor company or by the Recipient for Good Reason within 24 months following a 409A Change in Control and
the RSUs subject to this Agreement did not vest pursuant to subsection (i) or (ii) of this Section 2(e), the RSUs subject to this
Agreement shall be immediately vested as of the date of such termination of Continuous Service and the Percentage Payable per RSU
shall be two hundred percent (200%).

 

(f)          Acceleration
of Vesting Upon Termination. Notwithstanding any other provision in this
Agreement and except as otherwise provided in Section 2(g), in the event that the Recipient’s Continuous Service is terminated
prior to the Vesting Date either by the Company or any Related Entity without Cause or by the Recipient for Good Reason, a portion
of the RSUs equal to (i) the number of full months of Continuous Service following the Date of Grant through the date of termination,
divided by (ii) the total number of months between the Date of Grant and the Vesting Date, shall become vested as of the Vesting
Date, provided that the Performance Goals described herein are attained during the Performance Period. The Percentage Payable per
RSU shall be the percentage, if any, determined and certified by the Committee pursuant to Section 2(a) above. 

 

(g)          Acceleration
of Vesting Upon Retirement. Notwithstanding any other provision in this Agreement,
if the Recipient terminates his or her Continuous Service prior to the Vesting Date and after attaining age 62 (for reasons other
than the reasons described in Sections 2(c), 2(d), 2(e) and 2(f) hereof) and completing at least five (5) years of Continuous Service
(a “Retirement Termination”), the RSUs shall
vest on the Vesting Date, provided that the Performance Goals described herein are attained during the Performance Period and provided
further that, during the period (the “Restricted Period”) beginning on the
date the Recipient has a Retirement Termination (the “Retirement
Date”) and continuing until the Vesting Date, the Recipient agrees that he or she will
not, in any capacity (including, but not limited to, as an owner, member, partner, shareholder, consultant, advisor, financier,
agent, employee, officer, director, manager or otherwise), whether directly or indirectly, engage in a Competitive Activity (as
such term is hereinafter defined). If the Recipient fails to comply with this provision, a portion of the RSUs equal to (i) the
number of full months following the Date of Grant through the date the Recipient violates this provision, divided by (ii) the total
number of months between the Date of Grant and the Vesting Date, shall become vested as of the Vesting Date, provided that the
Performance Goals described herein are attained during the Performance Period, and the unvested portion of the RSUs shall be forfeited.
The Percentage Payable per RSU under this Subsection shall be the percentage, if any, determined and certified by the Committee
pursuant to Section 2(a) above. As used in this Agreement, the term “Competitive Activity”
shall mean and refer to: any person or entity (including their successors (including any successor(s) that results from any business
combination, sale or merger), assigns and transferees, whether by operation of law or otherwise) that, whether on the Retirement
Date or at any time within the Restricted Period, derives more than fifty percent of its revenues from one or more non-urban acute
care hospitals (and associated outpatient healthcare facilities).  Nothing in this subsection (g) shall prohibit the Recipient’s
ownership of stock in any publicly held company (other than the Company) listed on a national securities exchange or whose shares
of stock are regularly traded in the over the counter market as long as such holding at no time exceeds two percent (2%) of the
total outstanding stock of such company. 

 

 

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(h)          Definitions.
For purposes of this Agreement, the following terms shall have the
meanings indicated:

 

(i)          “409A
Change in Control”  means an event which constitutes a “change in the ownership” of the Company, a “change
in effective control” of the Company, or a “change in the ownership of a substantial portion of the assets” of
the Company, each as defined under Treasury Regulations Section 1.409A-3(i)(5).

 

(ii)         “Delivery
Date”  means the date on which any portion of the RSUs subject to this Agreement vest pursuant to this Section 2.
Notwithstanding the foregoing, in the event the RSUs subject to this Agreement become vested upon an event which constitutes a
“change in the ownership” of the Company, a “change in effective control” of the Company, or a “change
in the ownership of a substantial portion of the assets” of the Company under Treasury Regulations Section 1.409A-3(i)(5),
Delivery Date shall mean the date on or after such 409A Change in Control on which the Recipient has a Separation from Service,
provided that such Separation from Service occurs within 24 months following such 409A Change in Control, or the date on which
the RSUs subject to this Agreement would have vested pursuant to Sections 2(b), 2(c) or 2(d) in the absence of a 409A Change in
Control occurring, whichever occurs earliest.

 

(iii)        “Disability”
means, solely for purposes of this Agreement and notwithstanding any provision in the Plan to the contrary, a medically determinable
physical or mental impairment resulting in the Recipient’s inability to perform the duties of his or her position or any
substantially similar position, where such impairment can be expected to result in death or can be expected to last for a continuous
period of not less than six months.

 

(iv)         “Non-Vested
RSUs” means any portion of the RSUs subject to this Agreement that have not become vested pursuant to this Section
2.

 

(v)          “Separation
from Service”  means the voluntary or involuntary separation from service with the Service Recipient, determined
in a manner consistent with Section 409A of the Code and the Treasury Regulations thereunder.

 

(vi)         “Service
Recipient” means the person or entity for whom the services resulting in the grant of the RSUs were performed, and
with respect to whom the legally binding right to the Award arises, and all persons with whom such person would be considered a
single employer under Section 414(b) of the Code (employees of a controlled group of corporations), and all persons with whom such
person would be considered a single employer under Section 414(c) of the Code (employees of partnerships, proprietorships, or other
entities under common control).

 

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(vii)        “Specified
Employee” means any Recipient who, at the time of his or her Separation from Service, is a “key employee”,
within the meaning of Section 416(i) of the Code, of any Service Recipient the shares of which are publicly traded on an established
securities market or otherwise, determined in accordance with Section 409A of the Code.

 

(viii)      “Vested
RSUs” means any portion of the RSUs subject to this Agreement that are and have become vested pursuant to this Section
2.

 

3.          Forfeiture
of RSUs. Except as otherwise provided in Section
2, if the Recipient’s Continuous Service is terminated prior to the Vesting Date, the RSUs shall be forfeited immediately
upon such termination of Continuous Service without any payment to the Recipient.

Settlement of the
RSUs. 

 

4.          Settlement
of the RSUs.

 

(a)          ‍‍Medium
of Payment. If the Percentage Payable per RSU, determined in accordance with Section 2, is less than or equal to 100%,
the Vested RSUs shall be settled in a number of Shares equal to the number of Vested RSUs, multiplied by the Percentage Payable
per RSU. If the Percentage Payable per RSU is greater than 100%, the Vested RSUs shall be settled in (i) a number of Shares equal
to the number of Vested RSUs, multiplied by 100%, plus (ii) cash equal to the Fair Market Value of a Share on the date the Committee
certifies the level of Performance Goals achieved, multiplied by the portion of the Percentage Payable per RSU that exceeds 100%,
multiplied by the number of Vested RSUs. Notwithstanding the foregoing, if the RSUs become vested due to the Recipient’s
death or Disability, the Fair Market Value of a Share on the date of the Recipient’s death or Disability, as applicable,
shall be used to calculate any cash payment. Furthermore, if the RSUs become vested on a 409A Change in Control pursuant to Section
2(e), the price paid per share in connection with such 409A Change in Control shall be used to calculate any cash payment. If the
RSUs become vested on the Recipient’s termination of Continuous Service following a 409A Change in Control pursuant to Section
2(e), the Fair Market Value of a Share on the date of the Recipient’s termination of Continuous Service shall be used to
calculate any cash payment.

 

(b)          Payment.
Except as provided in Subsection (d) below, the Company shall deliver to the Recipient or in the event of the Recipient’s
death, to the beneficiary or beneficiaries designated by the Recipient, or if the Recipient has not so designated any beneficiary(ies),
or no designated beneficiary survives the Recipient, to the personal representative of the Recipient’s estate, Shares and,
if applicable, cash as provided in Section 4(a), on, or as soon as administratively practicable after, the Delivery Date, but
in no event more than sixty (60) days thereafter. Notwithstanding the foregoing, in the event there is a 409A Change in Control
on or before the date on which the Company would otherwise deliver Shares pursuant to this Section 4(b), the Company may, in lieu
of delivering Shares, deliver the consideration (whether stock, cash or other securities or property) received in the 409A Change
in Control transaction by holders of Shares, or such other consideration as determined by the Committee in its sole discretion,
equal to the Fair Market Value of the per Share consideration received by holders of Shares in the applicable transaction, multiplied
by the number of Vested RSUs that were deliverable pursuant to this Section 4. The determination of such substantial equality
of Fair Market Value of consideration shall be made by the Committee in its sole discretion and its determination shall be conclusive
and binding.

 

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(c)          Distribution
to Specified Employees. Notwithstanding the foregoing, if the Recipient is a Specified Employee, then no payments otherwise
required to be made under this Agreement on account of the Recipient’s Separation from Service shall be made before the date
that is six (6) months after the date of the Recipient’s Separation from Service or, if earlier, the date of the Recipient’s
death if such deferral is required to comply with Section 409A of the Code. 

 

(d)          Deferred
Distribution. Notwithstanding any other provision, the Recipient may elect pursuant to the LifePoint Hospitals Deferred
Compensation Plan (the “NQDC Plan”) to defer settlement of the portion of Non-Vested RSUs to be settled in Shares until
a date or event other than the Delivery Date, but only to the extent allowed by the Company and subject to the terms and conditions
of the NQDC Plan, including but not limited to those provisions governing deferral elections and the timing of such deferral elections.
The portion of Non-Vested RSUs subject to a valid deferral election by the Recipient under the NQDC Plan shall be distributed according
to the terms of the NQDC Plan, but otherwise shall continue to be subject to the terms of this Agreement, the Plan, and the deferral
election form. The portion of Non-Vested RSUs to be settled in cash if the Percentage Payable is greater than 100% shall be distributed
according to the terms of this Agreement and the Plan and settlement of such portion may not be deferred pursuant to this Subsection
and the NQDC Plan.

 

5.          Rights
with Respect to RSUs.

 

(a)          No
Rights as Shareholder Until Delivery. Except as otherwise provided in this Section 5, the Recipient shall not have any
rights, benefits or entitlements with respect to Shares corresponding to the RSUs unless and until those Shares are delivered to
the Recipient (and thus shall have no voting rights, or rights to receive any dividend declared, before those Shares are so delivered).
On or after delivery, the Recipient shall have, with respect to the Shares delivered, all of the rights of a holder of Shares granted
pursuant to the articles of incorporation and other governing instruments of the Company, or as otherwise available at law.

 

(b)         Adjustments
to RSUs. If at any time while this Agreement is in effect and before the RSUs have been settled, there shall be any increase
or decrease in the number of issued and outstanding Shares of the Company through the declaration of a stock dividend or through
any recapitalization resulting in a stock split-up, combination or exchange of such Shares, then the RSUs subject to this Agreement
shall be adjusted in the same manner as the outstanding Shares of the Company. If any such adjustment shall result in a fractional
RSU, such fraction shall be disregarded.

 

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(c)          No
Restriction on Certain Transactions. Notwithstanding any term or provision of this Agreement to the contrary, the existence
of this Agreement, or of any outstanding RSUs awarded hereunder, shall not affect in any manner the right, power or authority
of the Company or any Related Entity to make, authorize or consummate: (i) any or all adjustments, recapitalizations, reorganizations
or other changes in the Company's or any Related Entity’s capital structure or its business; (ii) any merger, consolidation
or similar transaction by or of the Company or any Related Entity; (iii) any offer, issue or sale by the Company or any Related
Entity of any capital stock of the Company or any Related Entity, including any equity or debt securities, or preferred or preference
stock that would rank prior to or on parity with the Shares represented by the RSUs and/or that would include, have or possess
other rights, benefits and/or preferences superior to those that such Shares include, have or possess, or any warrants, options
or rights with respect to any of the foregoing; (iv) the dissolution or liquidation of the Company or any Related Entity; (v)
any sale, transfer or assignment of all or any part of the stock, assets or business of the Company or any Related Entity; or
(vi) any other corporate transaction, act or proceeding (whether of a similar character or otherwise).

 

(d)          Dividend
Equivalents. During the term of this Agreement, the Recipient shall have the right to receive distributions (the “Dividend
Equivalents”) from the Company equal to any dividends or other distributions that would have been distributed to the
Recipient if each RSU was instead an issued and outstanding Share owned by the Recipient. Dividend Equivalents payable with respect
to the RSUs subject to this Agreement shall be subject to the following terms and conditions: (i) Dividend Equivalents payable
with respect to the RSUs subject to this Agreement shall be paid on the date the RSUs to which such Dividend Equivalents relate
are settled under Section 4 hereof, with such Dividend Equivalents to be accumulated, without interest, by the Company (the “Accumulated
Dividend Equivalents”), (ii) all Accumulated Dividend Equivalents payable with respect to the RSUs subject to this Agreement
shall be paid in cash, reduced by any applicable withholding taxes, and (ii) any Accumulated Dividend Equivalents with respect
to the RSUs subject to this Agreement shall be forfeited and all rights of the Recipient to such Accumulated Dividend Equivalents
shall terminate, without further obligation on the part of the Company, unless the portion of the RSUs subject to this Agreement
to which such Accumulated Dividend Equivalents relate become Vested RSUs pursuant to Section 2 hereof. Each Dividend Equivalent
shall be treated as a separate payment for purposes of Section 409A of the Code.

 

6.          Transferability.
The RSUs are not transferable unless and until the Shares have been delivered to the Recipient in settlement of the RSUs in accordance
with this Agreement, otherwise than by will or under the applicable laws of descent and distribution. The terms of this Agreement
shall be binding upon the executors, administrators, heirs, successors and assigns of the Recipient. Except as otherwise permitted
pursuant to the first sentence of this Section, any attempt to effect a Transfer of any RSUs prior to the date on which the Shares
have been delivered to the Recipient in settlement of the RSUs shall be void ab initio. For purposes of this Agreement, “Transfer”
shall mean any sale, transfer, encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition, whether similar
or dissimilar to those previously enumerated, whether voluntary or involuntary, and including, but not limited to, any disposition
by operation of law, by court order, by judicial process, or by foreclosure, levy or attachment.

 

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7.          Tax
Matters.

 

(a)          Withholding.
Any minimum tax withholding obligation of the Company arising in connection with this Award, and/or the lapse of restrictions with
respect hereto, shall, to the extent permitted by law, be satisfied by the retention of cash and/or Shares issuable pursuant to
this Award that have a then-current Fair Market Value equal to the amount of any minimum federal, state or local taxes of any kind
required by law to be withheld with respect to this Award. If the retention of Shares described in the foregoing sentence is not
permitted by law, as a condition to the Company’s obligations with respect to the RSUs (including, without limitation, any
obligation to deliver any Shares) hereunder, the Recipient shall make arrangements satisfactory to the Company to pay to the Company
any federal, state or local taxes of any kind required to be withheld with respect to the vesting or delivery of Shares corresponding
to such RSUs.

 

(b)          Recipient’s
Responsibilities for Tax Consequences. The tax consequences to the Recipient (including without limitation federal, state,
local and foreign income tax consequences) with respect to the RSUs (including without limitation the grant, vesting and/or delivery
thereof) are the sole responsibility of the Recipient. The Recipient shall consult with his or her own personal accountant(s) and/or
tax advisor(s) regarding these matters and the Recipient’s filing, withholding and payment (or tax liability) obligations.

 

8.          Amendment,
Modification & Assignment. This Agreement may only be modified
or amended in a writing signed by the parties hereto. No promises, assurances, commitments, agreements, undertakings or representations,
whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have
been made by either party which are not set forth expressly in this Agreement. This Agreement (and Recipient’s rights hereunder)
may not be assigned, and the obligations of Recipient hereunder may not be delegated, in whole or in part. The rights and obligations
created hereunder shall be binding on the Recipient and his heirs and legal representatives and on the successors and assigns
of the Company.

 

9.          Complete
Agreement. This Agreement (together with those agreements and documents expressly referred
to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties
with respect to the subject matter hereof, and supersede any and all prior promises, assurances, commitments, agreements, undertakings
or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject
matter hereof in any way.

 

10.         Miscellaneous.

 

(a)         No
Right to (Continued) Employment or Service. This Agreement and the grant of RSUs hereunder
shall not confer, or be construed to confer, upon the Recipient any right to employment or service, or continued employment or
service, with the Company or any Related Entity.

 

(b)         No
Limit on Other Compensation Arrangements. Nothing contained in this
Agreement shall preclude the Company or any Related Entity from adopting or continuing in effect other or additional compensation
plans, agreements or arrangements, and any such plans, agreements and arrangements may be either generally applicable or applicable
only in specific cases or to specific persons.

 

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(c)        Severability.
If any term or provision of this Agreement is or becomes or is deemed
to be invalid, illegal or unenforceable in any jurisdiction or under any applicable law, rule or regulation, then such provision
shall be construed or deemed amended to conform to applicable law (or if such provision cannot be so construed or deemed amended
without materially altering the purpose or intent of this Agreement and the grant of RSUs hereunder, such provision shall be stricken
as to such jurisdiction and the remainder of this Agreement and the award hereunder shall remain in full force and effect).

 

(d)         No
Trust or Fund Created. Neither this Agreement nor the grant of RSUs
hereunder shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the
Company or any Related Entity and the Recipient or any other person. To the extent that the Recipient or any other person acquires
a right to receive payments from the Company or any Related Entity pursuant to this Agreement, such right shall be no greater
than the right of any unsecured general creditor of the Company.

 

(e)         Law
Governing. This Agreement shall be governed by and construed and enforced in accordance
with the internal laws of the State of Delaware (without reference to the conflict of laws rules or principles thereof).

 

(f)         Interpretation.
This award of RSUs is subject to all of the terms, provisions and
restrictions of this Agreement and the Plan. All decisions or interpretations of the Board or the Committee upon any questions
arising under this Agreement or the Plan are binding, conclusive and final. 

 

(g)         Headings.
Section, paragraph and other headings and captions are provided
solely as a convenience to facilitate reference. Such headings and captions shall not be deemed in any way material or relevant
to the construction, meaning or interpretation of this Agreement or any term or provision hereof.

 

(h)         Notices.
Any notice under this Agreement shall be in writing and shall be
deemed to have been duly given when delivered personally or when deposited in the United States mail, registered, postage prepaid,
and addressed, in the case of the Company, to the Company’s General Counsel at 330 Seven Springs Way, Brentwood, Tennessee
37207, or if the Company should move its principal office, to such principal office, and, in the case of the Recipient, to the
Recipient’s last permanent address as shown on the Company’s records, subject to the right of either party to designate
some other address at any time hereafter in a notice satisfying the requirements of this Section. 

 

(i)          Compliance
with Section 409A

 

(i)          General.
It is the intention of both the Company and the Recipient that the benefits and rights to which the Recipient could
be entitled pursuant to this Agreement comply with Section 409A of the Code and the Treasury Regulations and other guidance promulgated
or issued thereunder (“Section 409A”), to the extent that the requirements of Section 409A are applicable thereto,
and the provisions of this Agreement shall be construed in a manner consistent with that intention. If the Recipient or the Company
believes, at any time, that any such benefit or right that is subject to Section 409A does not so comply, it shall promptly advise
the other and shall negotiate reasonably and in good faith to amend the terms of such benefits and rights such that they comply
with Section 409A (with the most limited possible economic effect on the Recipient and on the Company).

 

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(ii)         No
Representations as to Section 409A Compliance. Notwithstanding the foregoing, the Company does not make any representation
to the Recipient that the shares of RSUs and the Dividend Equivalents, if any, awarded pursuant to this Agreement are exempt from,
or satisfy, the requirements of Section 409A, and the Company shall have no liability or other obligation to indemnify or hold
harmless the Recipient or any Beneficiary for any tax, additional tax, interest or penalties that the Recipient or any Beneficiary
may incur in the event that any provision of this Agreement, or any amendment or modification thereof or any other action taken
with respect thereto is deemed to violate any of the requirements of Section 409A.

 

(iii)        No
Acceleration of Payments. Neither the Company nor the Recipient, individually or in combination, may accelerate
any payment or benefit that is subject to Section 409A, except in compliance with Section 409A and the provisions of this Agreement,
and no amount that is subject to Section 409A shall be paid prior to the earliest date on which it may be paid without violating
Section 409A.

 

(iv)         Treatment
of Each Installment as a Separate Payment. For purposes of applying the provisions of Section 409A to this Agreement, each
separately identified amount to which the Recipient is entitled under this Agreement shall be treated as a separate payment. In
addition, to the extent permissible under Section 409A, any series of installment payments under this Agreement shall be treated
as a right to a series of separate payments.

 

(j)         Non-Waiver
of Breach. The waiver by any party hereto of the other party's prompt
and complete performance, or breach or violation, of any term or provision of this Agreement shall be effected solely in a writing
signed by such party, and shall not operate nor be construed as a waiver of any subsequent breach or violation, and the waiver
by any party hereto to exercise any right or remedy which he or it may possess shall not operate nor be construed as the waiver
of such right or remedy by such party, or as a bar to the exercise of such right or remedy by such party, upon the occurrence
of any subsequent breach or violation. 

 

(k)         Clawback
of Benefits. The Committee shall have full authority to implement
any policies and procedures that it determines to be necessary or appropriate to comply with applicable securities laws or other
laws, including, without limitation, Section 10D of the Exchange Act and any rules promulgated thereunder, including without limitation,
including in this Agreement, or amending any this Agreement, without the consent of the Recipient, to include language for the
clawback (recapture) by the Company of any benefits under this Agreement that the Committee deems necessary or appropriate to
comply with that statutory provision and those rules.

 

    	10CLINICAL
STUDY COLLABORATION AGREEMENT

 

THIS
CLINICAL STUDY COLLABORATION AGREEMENT (the “Agreement”) is entered into as of February 10, 2015 (the “Effective
Date”), by and between Incyte Corporation, a Delaware corporation
with its offices at 1801 Augustine Cut-Off, Wilmington, DE 19803 (“Incyte”), and ADVAXIS, INC., a New Jersey
corporation having a place of business at 305 College Road East, Princeton, NJ (“Advaxis”). Incyte and Advaxis may
each be referred to herein individually as a “Party” or collectively, as the “Parties.”

 

RECITALS

 

	 	A.	WHEREAS, Incyte is developing the Incyte
    Compound (as defined below) for the treatment of certain tumor types.
	 	 	 
	 	B.	WHEREAS, Advaxis is developing the Advaxis Compound (as
    defined below) for the treatment of certain tumor types.
	 	 	 
	 	C.	WHEREAS, Incyte desires to sponsor a clinical trial in which
    the Incyte Compound and the Advaxis Compound would be dosed in combination. 
	 	 	 
	 	D.	WHEREAS, Advaxis and Incyte, consistent with the terms of
    this Agreement, desire to collaborate as more fully described herein, including by providing the Advaxis Compound and the
    Incyte Compound for the Study (as defined below).

 

NOW,
THEREFORE, in consideration of the foregoing and the covenants and promises contained in this Agreement, the Parties agree as
follows:

 

	1.	Definitions

 

For
all purposes of this Agreement, the capitalized terms defined in this Article 1 and throughout this Agreement shall have the meanings
herein specified:

 

	 	1.1.	“Advaxis”
    has the meaning set forth in the preamble.
	 	 	 
	 	1.2.	“Advaxis Compound”
    means ADXS11-001 (also known as ADXS-HPV) which is a live, attenuated Listeria monocytogenes (Lm) based vector
    bioengineered to secrete a fusion peptide of truncated Listeriolysin O (tLLO)-human papillomavirus type 16 E7.
	 	 	 
	 	1.3.	“Affiliate”
means, with respect to either Party, a firm, corporation or other entity which directly or indirectly owns or controls said Party,
or is owned or controlled by said Party, or is under common ownership or control with said Party. The word “control”
means (i) the direct or indirect ownership of fifty percent (50%) or more of the outstanding voting securities of a legal entity,
or (ii) possession, directly or indirectly, of the power to direct the management or policies of a legal entity, whether through
the ownership of voting securities, contract rights, voting rights, corporate governance or otherwise.
	 	 	 
	 	1.4.	“Agreement” means
    this agreement, as amended by the Parties from time to time, and as set forth in the preamble.

 

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	 	1.5.	“Applicable
Law” means all federal, state, local, national and regional statutes, laws, rules, regulations and directives applicable
to a particular activity hereunder, including performance of clinical trials, medical treatment and the processing and protection
of personal and medical data, that may be in effect from time to time, including those promulgated by the United States Food and
Drug Administration (“FDA”), the European Medicines Agency (“EMA”) and any successor agency
to the FDA or EMA or any agency or authority performing some or all of the functions of the FDA or EMA in any jurisdiction outside
the United States or the European Union (each a “Regulatory Authority” and collectively, “Regulatory
Authorities”), and including without limitation cGMP and GCP (each as defined below); all data protection requirements
such as those specified in the EU Data Protection Directive and the regulations issued under the United States Health Insurance
Portability and Accountability Act of 1996 (“HIPAA”); export control and economic sanctions regulations which
prohibit the shipment of United States-origin products and technology to certain restricted countries, entities and individuals;
anti-bribery and anti-corruption laws pertaining to interactions with government agents, officials and representatives; laws and
regulations governing payments to healthcare providers; and any United States or other country’s or jurisdiction’s
successor or replacement statutes, laws, rules, regulations and directives relating to the foregoing.
	 	 	 
	 	1.6.	Background Intellectual Property”
    means, individually and collectively, all Intellectual Property Rights of any of the Parties in existence at any time prior
    to the Effective Date and not generated through the use of the Incyte Compound in combination with the Advaxis Compound in
    the course of performing the Study, provided to the other Party for use in, or which is necessary or useful for performing
    the Study. In the case of Advaxis, Background Intellectual Property shall include but is not limited to, rights in and to
    the Advaxis Compound and in and to any INDs relating to the Advaxis Compound. In the case of Incyte, Background Intellectual
    Property shall include but is not limited to, the rights in and to the Incyte Compound and in and to any INDs relating to
    the Incyte Compound.
	 	 	 
	 	1.7.	“Business
Day” means any day other than a Saturday, Sunday or any public holiday in the country where the applicable obligations
are to be performed.
	 	 	 
	 	1.8.	“Calendar Quarter”
    means a three-month period beginning on January, April, July or October 1st.
	 	 	 
	 	1.9.	“Calendar Year”
    means a one-year period beginning on January 1st and ending on December 31st.
	 	 	 
	 	1.10.	“cGMP” means the
    current Good Manufacturing Practices officially published and interpreted by EMA, FDA and other applicable Regulatory Authorities
    that may be in effect from time to time and are applicable to the Manufacture of the Compounds. 
	 	 	 
	 	1.11.	“Clinical Data”
    means all data (including raw data), records and results generated under the Study including Sample Testing Results. 
	 	 	 
	 	1.12.	“Clinical Quality Agreement”
    means that certain clinical quality agreement being entered into by the Parties within sixty (60) days of the Effective Date.
	 	 	 
	 	1.13.	“Collaboration Know-How”
    has the meaning set forth in Section 10.1.1.
	 	 	 
	 	1.14.	“Compounds” means
    the Incyte Compound and the Advaxis Compound. A “Compound” means either the Incyte Compound or the Advaxis
    Compound, as applicable.

 

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	 	1.15.	“Combination”
    means the use or method of using the Incyte Compound and the Advaxis Compound in concomitant or sequential administration.
	 	 	 
	 	1.16.	“Confidential Information”
    means any information, Know-How or other proprietary information or materials furnished to one Party by the other Party pursuant
    to this Agreement, except to the extent that it can be established by the receiving Party that such information or materials:
    (a) was already known to the receiving Party, other than under an obligation of confidentiality, at the time of disclosure
    by the disclosing Party as demonstrated by competent business records; (b) was generally available to the public or otherwise
    part of the public domain at the time of its disclosure to the receiving Party; (c) became generally available to the public
    or otherwise part of the public domain after its disclosure and other than through any act or omission of the receiving Party
    in breach of this Agreement; (d) was disclosed to the receiving Party by a Third Party who had no obligation to the disclosing
    Party not to disclose such information to others; or (e) was subsequently developed by the receiving Party without use of
    or reference to the Confidential Information as demonstrated by competent business records. 
	 	 	 
	 	1.17.	“CTA” means an application,
    including a clinical trial application, to a Regulatory Authority for purposes of requesting the ability to start or continue
    a clinical trial.
	 	 	 
	 	1.18.	Delivery- has the meaning set
    forth in Section 8.3.1 with respect to delivery of the Advaxis Compound, and Section 8.3.2 with respect to the Incyte Compound.
    
	 	 	 
	 	1.19.	“Disposition Package”
    has the meaning set forth in Section 8.7.1.
	 	 	 
	 	1.20.	“Dispute” has the
    meaning set forth in Section 21.1.
	 	 	 
	 	1.21.	“Effective Date”
    has the meaning set forth in the preamble.
	 	 	 
	 	1.22.	“EMA” has the meaning
    set forth in the definition of Applicable Law.
	 	 	 
	 	1.23.	“Field” means the
    concomitant and/or sequenced administration of the Advaxis Compound and the Incyte Compound in patients with cervical cancer.
	 	 	 
	 	1.24.	“First Site Ready”
    is when the first clinical site has all deliverables in place to support patient enrollment in the Study.
	 	 	 
	 	1.25.	 “FDA” has
    the meaning set forth in the definition of Applicable Law.
	 	 	 
	 	1.26.	“GCP” means the
    Good Clinical Practices officially published by EMA, FDA and the International Conference on Harmonisation of Technical Requirements
    for Registration of Pharmaceuticals for Human Use (ICH) that may be in effect from time to time and are applicable to the
    testing of the Compounds. 
	 	 	 
	 	1.27.	“Government Official”
    means: (a) any officer or employee of a government or any department, agency or instrument of a government; (b) any person
    acting in an official capacity for or on behalf of a government or any department, agency, or instrument of a government;
    (c) any officer or employee of a company or business owned in whole or part by a government; (d) any officer or employee of
    a public international organization such as the World Bank or United Nations; (e) any officer or employee of a political party
    or any person acting in an official capacity on behalf of a political party; and/or (f) any candidate for political office;
    who, when such Government Official is acting in an official capacity, or in an official decision-making role, has responsibility
    for performing regulatory inspections, government authorizations or licenses, or otherwise has the capacity to take decisions
    with the potential to affect the business of either of the Parties.

 

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	 	1.28.	“HIPAA”
    has the meaning set forth in the definition of Applicable Law.
	 	 	 
	 	1.29.	“Incyte” has the
    meaning set forth in the preamble.
	 	 	 
	 	1.30.	“Incyte Compound”
    means INCB024360, a Selective Inhibitor of IDO1 (indoleamine 2, 3 dioxygenase-1), as a freebase or pharmaceutical salt and
    any formulations thereof.
	 	 	 
	 	1.31.	 “IND” means
    the Investigational New Drug Application filed or to be filed with the FDA as described in Title 21 of the U.S. Code of Federal
    Regulations, Part 312, and the equivalent application in the jurisdictions outside the United States, including an “Investigational
    Medicinal Product Dossier” filed or to be filed with the EMA.
	 	 	 
	 	1.32.	“Intellectual Property Right(s)”
    means any and all ideas, inventions, conceptions, discoveries, know-how, data, information, results, databases, documentation,
    reports, materials, writings, designs, computer software, processes, principles, methods, techniques and other information,
    including Patents, trade secrets, trade-marks, service marks, trade names, registered designs, design rights, copyrights (including
    rights in computer software and database rights), whether registered or not, and all legal means of establishing rights in
    and to and the aforesaid rights or property similar to any of the foregoing, in any part of the world, together with the right
    to apply for the registration of any such right.
	 	 	 
	 	1.33.	 “Inventions”
    means all inventions and discoveries which are (i) made developed, conceived, or first reduced to practice through the use
    of the Incyte Compound in combination with the Advaxis Compound in the performance of the Study, and/or (ii) made, developed,
    conceived, or first reduced to practice by a Party through the use of the Incyte Compound in combination with the Advaxis
    Compound through use of the Clinical Data.
	 	 	 
	 	1.34.	“IRB” means an Institutional
    Review Board constituted and operating in accordance with FDA/HHS regulations.
	 	 	 
	 	1.35.	“Jointly Owned Invention”
    has the meaning set forth in Section 10.1.1.
	 	 	 
	 	1.36.	“Joint Patent Application”
    has the meaning set forth in Section 10.1.2.
	 	 	 
	 	1.37.	“Joint Patent” means
    a patent that issues from a Joint Patent Application.
	 	 	 
	 	1.38.	“Know-How” means
    any proprietary invention, innovation, improvement, development, discovery, computer program, device, trade secret, method,
    know-how, process, technique or the like, including manufacturing, use, process, structural, operational and other data and
    information, whether or not written or otherwise fixed in any form or medium, regardless of the media on which contained and
    whether or not patentable or copyrightable, that is not generally known or otherwise in the public domain resulting from the
    use of the Incyte Compound in combination with the Advaxis Compound.
	 	 	 
	 	1.39.	“Liability” has
    the meaning set forth in Section 14.2.1.

 

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	 	1.40.	“Lm-LLO
    Immunotherapy” means the Advaxis proprietary platform technology in which live attenuated Lm are bioengineered
    to secrete an antigen-adjuvant fusion protein (antigen + LLO) consisting of a tumor associated antigen fused to a truncated
    fragment of the Lm protein listeriolysin (tLLO). This Agreement is specific to ADXS11-001 as described in 1.2.
	 	 	 
	 	1.41.	“Manufacture,” “Manufactured,”
    or “Manufacturing” means all stages of the manufacture of a Compound, including planning, purchasing, manufacture,
    processing, compounding, storage, filling, packaging, waste disposal, labeling, leafleting, testing, quality assurance, sample
    retention, stability testing, release, dispatch and supply, as applicable. 
	 	 	 
	 	1.42.	“Manufacturer’s Release”
    or “Release” has the meaning ascribed to such term in the Clinical Quality Agreement.
	 	 	 
	 	1.43.	“Manufacturing Site”
    means the facilities where a Compound is Manufactured by or on behalf of a Party, as such Manufacturing Site may change from
    time to time in accordance with Section 8.6 (Changes to Manufacturing). 
	 	 	 
	 	1.44.	“Non-Conformance”
    means, with respect to a given unit of Compound, (i) an event that deviates from an approved cGMP requirement with respect
    to the applicable Compound, such as a procedure, Specification, or operating parameter, or that requires an investigation
    to assess impact to the quality of the applicable Compound or (ii) that such Compound failed to meet the applicable representations
    and warranties set forth in Section 2.3. Classification of the Non-Conformance is detailed in the Clinical Quality Agreement.
    
	 	 	 
	 	1.45.	“Party” has the
    meaning set forth in the preamble.
	 	 	 
	 	1.46.	“Pharmacovigilance Agreement”
    means that certain pharmacovigilance agreement being entered into by the Parties within sixty (60) days of the Effective Date
    regarding the Compounds.
	 	 	 
	 	1.47.	“Protocol” means
    the written documentation that describes the Study and sets forth specific activities to be performed as part of the Study
    conduct, a synopsis of which is attached hereto as Appendix A.
	 	 	 
	 	1.48.	“Regulatory Approvals”
    means, with respect to a Compound, any and all permissions (other than the Manufacturing approvals) required to be obtained
    from Regulatory Authorities and any other competent authority for the development, registration, importation and distribution
    of such Compound in the United States, Europe or other applicable jurisdictions for use in the Study. 
	 	 	 
	 	1.49.	“Regulatory Authorities”
    has the meaning set forth in the definition of Applicable Law.
	 	 	 
	 	1.50.	“Samples” means
    the samples described in Appendix B.
	 	 	 
	 	1.51.	“Sample Testing”
    means the studies to be performed by each Party using the applicable Samples, as set forth in Appendix B.
	 	 	 
	 	1.52.	“Sample Testing Results”
    means those results arising from the Sample Testing which are to be shared between Advaxis and Incyte, as set forth in Appendix
    B.

 

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	 	1.53.	“Selective
Inhibitor of IDO1” means any compound that exhibits IDO1 inhibitory properties with average IC50 ≤ 1 micromolar in
either the HELA cellular assay or D-Trp enzyme assay, the methods for which are set forth in Appendix F. Average IC50 values will
be calculated as the average of at least five separate IC50 determinations with values determined on at least three separate days.
An average value will be acceptable if the %CV is 50 or less. If the %CV for the data is greater than 50, the average IC50 value
will be calculated from at least ten IC50 measurements conducted on at least five separate days. Individual IC50 values that differ
more than 10-fold from the average IC50 value will be excluded from the final IC50 average value calculation.
	 	 	 
	 	1.54.	“Specifications”
    means, with respect to a Compound, the set of requirements for such Compound as set forth in the Clinical Quality Agreement.
	 	 	 
	 	1.55.	“Study” means the
    clinical trial to be conducted under this Agreement for the concomitant or sequenced administration of the Advaxis Compound
    and the Incyte Compound (the “Phase I/II Trial”) as outlined in the protocol synopsis attached hereto as
    Appendix A. 
	 	 	 
	 	1.56.	“Study Completion”
    has the meaning set forth in Section 3.9.
	 	 	 
	 	1.57.	“Third
Party” means any person or entity other than Incyte, Advaxis or their respective Affiliates.

 

	2.	Scope
                                         of the Agreement

 

	 	2.1.	Each Party shall
    contribute to the Study such resources as are necessary to fulfill its obligations set forth in this Agreement.
	 	 	 
	 	2.2.	Each Party agrees
    to act in good faith in performing its obligations under this Agreement and shall notify the other Party as promptly as possible
    in the event of any delay (material supply or other delay) that is likely to adversely affect supply of its Compound as contemplated
    by this Agreement.
	 	 	 
	 	2.3.	Incyte agrees
    to Manufacture and supply the Incyte Compound for purposes of the Study as set forth in Article 8, and Incyte hereby represents
    and warrants to Advaxis that, at the time of Delivery of the Incyte Compound, such Incyte Compound shall have been Manufactured
    and supplied in compliance with: (i) the Specifications for the Incyte Compound; (ii) the Clinical Quality Agreement; and
    (iii) all Applicable Law, including cGMP and health, safety and environmental protections. Advaxis agrees to Manufacture and
    supply the Advaxis Compound for purposes of the Study as set forth in Article 8, and Advaxis hereby represents and warrants
    to Incyte that, at the time of Delivery of the Advaxis Compound, such Advaxis Compound shall have been Manufactured and supplied
    in compliance with: (a) the Specifications for the Advaxis Compound; (b) the Clinical Quality Agreement; and (c) all Applicable
    Law, including cGMP and health, safety and environmental protections. Without limiting the foregoing, each Party is responsible
    for obtaining all regulatory approvals (including facility licenses) that are required to Manufacture its Compound in accordance
    with Applicable Law (provided that for clarity, Incyte shall be responsible for obtaining Regulatory Approvals for the Study
    as set forth in Section 3.3).
	 	 	 
	 	2.4.	Each Party shall
    have the right to subcontract any portion of its obligations hereunder to subcontractors, provided that such Party shall remain
    solely and fully liable for the performance of such subcontractors. Each Party shall ensure that each of its subcontractors
    is appropriately qualified and that appropriate regulatory notification or approval is received for the activities selected.
    Each Party shall further ensure that each of its subcontractors performs its obligations pursuant to the terms of this Agreement,
    including the Appendices attached hereto. Each Party shall use reasonable efforts to obtain and maintain copies of documents
    relating to the obligations performed by such subcontractors that are held by or under the control of such subcontractors
    and that are required to be provided to the other Party under this Agreement.

 

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	 	2.5.	This Agreement does not create any obligation
    on the part of Advaxis to provide the Advaxis Compound for any activities other than the Study, nor does it create any obligation
    on the part of Incyte to provide the Incyte Compound for any activities other than the Study.
	 	 	 
	 	2.6.	Nothing in this Agreement shall (i) prohibit either Party from
    performing studies other than the Study relating to its own Compound, either individually or in combination with any other
    compound or product, in any therapeutic area, or (ii) create an exclusive relationship between the Parties with respect to
    any Compound.

 

	3.	Conduct of
    the Study

 

	 	3.1.	Incyte
    shall act as the sponsor of the Study, shall take the lead role in conducting the Study and shall hold the IND relating to
    the Study. The IND held by Incyte will be filed with the Center for Biologics Evaluation and Research (CBER) at FDA.
	 	 	 
	 	3.2.	Incyte
    shall ensure that the Study is performed in accordance with this Agreement, the Protocol and all Applicable Law, including
    GCP.
	 	 	 
	 	3.3.	Incyte
    shall ensure all necessary regulatory approvals and IRB reviews and approvals are obtained prior to patient enrollment and
    shall be responsible for coordinating all ongoing IRB review, approval and monitoring, in compliance with 21 C.F.R. Part 56.
	 	 	 
	 	3.4.	Incyte shall ensure that all directions
    from any Regulatory Authority and/or ethics committee with jurisdiction over the Study are followed. Further, Incyte shall
    ensure that all Regulatory Approvals from any Regulatory Authority and/or ethics committee with jurisdiction over the Study
    are obtained prior to commencing or initiating performance of the Study. Advaxis shall have the right (but no obligation)
    to participate in any discussions with a Regulatory Authority regarding matters related to the Advaxis Compound. Incyte shall
    notify Advaxis promptly upon receipt of Regulatory Authority request for any such discussions relating to the Advaxis Compound.
    Advaxis will authorize FDA and other applicable regulatory authorities to cross-reference the appropriate ADXS-HPV INDs and
    CTAs to support conduct of the Study, and shall execute any documents or instruments necessary to allow such cross-referencing.
    If Advaxis’s CTA is not available in a given country, Advaxis will file its CMC data with the Regulatory Authority for
    such country, referencing Incyte’s CTA as appropriate.
	 	 	 
	 	3.5.	Each
    Party shall maintain reports and all related documentation in good scientific manner and in compliance with Applicable Law
    in connection with the Study. Incyte shall provide to Advaxis all Study information and documentation reasonably requested
    by Advaxis to enable Advaxis to comply with any of its legal, regulatory and/or contractual obligations, or any request by
    any Regulatory Authority, related to the Advaxis Compound.
	 	 	 
	 	3.6.	Incyte
    shall provide to Advaxis copies of all Clinical Data (except the Sample Testing Results as set forth in Section 3.7), in electronic
    form or other mutually agreeable alternate form and on mutually agreeable timelines, provided, however, Clinical Data associated
    with pharmacokinetics of the Advaxis Compound shall be provided to Advaxis no less than once every three (3) months, if available.
    Incyte shall ensure that all patient authorizations and consents required under HIPAA, the EU Data Protection Directive or
    any other similar Applicable Law in connection with the Study permit such sharing of Clinical Data with Advaxis.

 

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	 	3.7.	All
    Clinical Data, including raw data, records and results, generated under the Study, except for Sample Testing Results specific
    to the Incyte Compound or the Advaxis Compound, shall be jointly owned by Incyte and Advaxis. Clinical Data that is not Incyte
    Confidential Information may be used by Advaxis without restriction. Clinical Data that is not Advaxis Confidential Information
    may be used by Incyte without restriction. Each party shall bear the entire cost of any exploratory study it elects to do
    that is ; i) not part of the studies contemplated under this Agreement, and ii) expressly reviewed and approved by the JDC.
	 	 	 
	 	3.8.	Each
    Party shall use the Samples only for the Sample Testing outlined in Appendix B. Advaxis shall pay for and own all Sample Testing
    Results arising from experiments conducted by or on behalf of Advaxis. Advaxis shall provide to Incyte those Sample Testing
    Results outlined in Appendix B for the Sample Testing conducted by or on behalf of Advaxis, in electronic form or other mutually
    agreeable alternate form and on the timelines specified in Appendix B. Likewise, Incyte shall pay for and own all Sample Testing
    Results arising from experiments conducted by or on behalf of Incyte. Incyte shall provide to Advaxis those Sample Testing
    Results outlined in Appendix B for the Sample Testing conducted by or on behalf of Incyte, in electronic form or other mutually
    agreeable alternate form and on the timelines specified in Appendix B. Each Party may use the other Party’s Sample Testing
    Results only for the purposes of (i) seeking Regulatory Approval for the use of its respective Compound in the Combination
    or as monotherapy and/or for any companion diagnostic to any pharmaceutical product containing its respective Compound and
    (ii) filing and prosecuting patent applications for Joint Inventions and enforcing any resulting patents in accordance with
    Article 10; provided, however, that these restrictions shall no longer apply once the Sample Testing Results or portions thereof
    are available to the public.
	 	 	 
	 	3.9.	Joint
    Development Committee. The Parties shall form a joint development team (the “Joint Development Committee”
    or “JDC”), made up of an equal number of representatives of Advaxis and Incyte (not to exceed three (3)
    each), which shall have responsibility for coordinating all regulatory and other activities under, and pursuant to, this Agreement.
    Each Party shall designate a project manager (the “Project Manager”) who shall be responsible for ensuring
    clear and responsive communication between the Parties and the effective exchange of information, serving as the primary point
    of contact for any issues arising under this Agreement, implementing and coordinating activities, and facilitating the exchange
    of information between the Parties, with respect to the Study. Other JDC members will be agreed by both Parties. The JDC shall
    meet as soon as practicable after the Effective Date and then no less than once each Calendar Quarter, and more often as reasonably
    considered necessary at the request of either Party with reasonable notice, to provide an update on progress of the Study
    and make decisions regarding the conduct of the Study and any modifications to the Protocol and Budget. Five (5) business
    days prior to any such meeting, the Incyte Project Manager shall provide an update in writing to the Advaxis Project Manager,
    which update shall contain information about overall Study progress, recruitment status, interim analysis (if results are
    available), final analysis and other information relevant to the conduct of the Study. The JDC will attempt to reach decisions
    by consensus, except that Advaxis will determine in its sole discretion the dose and dosing regimen for the Advaxis Compound
    and Incyte will determine in its sole discretion the dose and dosing regimen for the Incyte Compound. When consensus is not
    achieved on any matter, the matter will be escalated to the Incyte CEO and the EVP CMO Advaxis or his/her nominee for resolution,
    provided however that (1) in the event that the matter relates solely to the Advaxis Compound, Advaxis shall have final decision-making
    authority and (2) in the event that the matter relates solely to the Incyte Compound, Incyte shall have final decision-making
    authority.

 

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	 	3.10.	Incyte shall provide Advaxis with (i) an electronic
    draft of the Final Study Report, for Advaxis to provide comments to Incyte within thirty (30) days of Advaxis’s receipt
    of the draft of the Final Study Report and (ii) a final version of the Final Study Report promptly following receipt of the
    Advaxis comments and Study Completion. Incyte shall consider in good faith all comments provided by Advaxis on the Final Study
    Report. “Study Completion” shall occur upon database lock of the Study results.

 

	4.	Protocol,
    Budget and Related Documents

 

	 	4.1.	The Study will be conducted in accordance with
    the Protocol Synopsis that has been agreed to by the Parties dated January 30, 2015. The Protocol Synopsis of the Protocol
    for the Study is attached as Appendix A, with the full Protocol included herein by reference. The JDC shall have the authority
    to amend the Protocol and the corresponding Budget prior to Study initiation by unanimous approval. If the Parties are unable
    to agree after good faith discussions upon an amended Protocol, then the Study will proceed as outlined in the attached Protocol.
    Notwithstanding the above, Advaxis will determine the dose and dosing regimen for the Advaxis Compound and will have the final
    decision on all matters relating to the Advaxis Compound and any information regarding the Advaxis Compound included in the
    Protocol for the Study, and Incyte will determine the dose and dosing regimen for the Incyte Compound and will have the final
    decision on all matters relating to the Incyte Compound and any information regarding the Incyte Compound included in the
    Protocol for the Study. To the extent any changes need to be made to the Protocol, Incyte shall have the final decision regarding
    the contents of the Protocol after good faith consideration of any comments by Advaxis; provided that Incyte’s changes
    will not exceed the Budget limitations set forth in Section 4.2 below and provided further that any changes relating specifically
    to the Advaxis Compound shall require Advaxis’s prior written consent, not to be unreasonably withheld. Advaxis will
    provide such consent, or a written explanation for why such consent is being withheld, within ten (10) Business Days of receiving
    Incyte’s request therefor. 
	 	 	 
	 	4.2.	A preliminary cost estimate for the
    Study (“Budget”) is attached hereto as Appendix C which will be finalized upon completion of site and CRO selection.
    The JDC shall finalize a mutually agreed upon budget. Sample testing costs shall be borne by Party conducting the tests, unless
    otherwise agreed by the Parties. Excluding internal FTEs for both Parties, Advaxis and Incyte will share equally the cost
    of the budgeted activities for the Study as set forth in the Budget. Any increase in the cost of the Study that exceeds the
    final Budget by ten percent (10%) of the total cost of the Study as set forth in the Budget must be agreed upon in advance
    by the JDC. Otherwise, each Party shall be responsible for its own internal costs and expenses to support the Study. The Parties
    further agree that (i) Advaxis shall provide the Advaxis Compound for use in the Study, as described in Article 8 below; and
    (ii) Incyte shall provide the Incyte Compound for use in the Study, as described in Article 8 below.
	 	 	 
	 	4.3.	Incyte shall prepare the patient informed
    consent form for the Study in consultation with Advaxis (it being understood that the portion of the informed consent form
    relating to the Advaxis Compound will be provided by Advaxis). 

 

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	5.	Adverse Event
    Reporting

 

	 	5.1.	Each Party will be responsible for compliance
    with all Applicable Law pertaining to safety reporting for the Study and related activities. The Parties will execute a Pharmacovigilance
    Agreement within sixty (60) days of the Effective Date to ensure the exchange of relevant safety data within appropriate timeframes
    and in appropriate format to enable the Parties to fulfill local and international regulatory reporting obligations and to
    facilitate appropriate safety reviews. The Pharmacovigilance Agreement will include safety data exchange procedures governing
    the coordination of collection, investigation, reporting, and exchange of information concerning any adverse experiences,
    pregnancy reports, and any other safety information arising from or related to the use of the Advaxis Compound and Incyte
    Compound in the Study, consistent with Applicable Law. Such guidelines and procedures shall be in accordance with, and enable
    the Parties and their Affiliates to fulfill local and international regulatory reporting obligations to Regulatory Authorities.
    
	 	 	 
	 	5.2.	Incyte shall be responsible for all safety reporting requirements
    (submission of all Advaxis Compound and Incyte Compound SUSARs from all studies to FDA and the investigators in the Study)
    including the requirements set forth in 21 C.F.R. § 312.32. Each Party shall report to the other Party safety information
    related to its Compound that necessitates amendments to the protocols that are required to be implemented by Regulatory Authorities,
    or are implemented by the respective Party, in each case where, because of their severity, frequency or lack of reversibility,
    a Party reasonably needs to know such safety information in order to ensure patient safety and prevent unreasonable risks
    in the conduct of the Study. All such disclosures under this Section 5.2 are Confidential Information of the Party disclosing
    same

 

	6.	Term and Termination

 

	 	6.1.	The term of this Agreement shall commence on
    the Effective Date and shall continue in full force and effect until completion of the Final Study Report or until terminated
    by either Party pursuant to this Article 6. 
	 	 	 
	 	6.2.	Either Party may terminate this Agreement if the other Party commits
    a material breach of this Agreement, and such material breach continues for thirty (30) days after receipt of written notice
    thereof from the non-breaching Party; provided that if such material breach cannot reasonably be cured within thirty (30)
    days, the breaching Party shall be given a reasonable period of time to cure such breach.
	 	 	 
	 	6.3.	Either Party may terminate this Agreement immediately upon written
    notice to the other party if the terminating Party determines in good faith, based on a review of the Clinical Data or other
    Study-related Know-How or information, that the Study may unreasonably affect patient safety.
	 	 	 
	 	6.4.	(a) Either Party may terminate this Agreement (in whole or in part
    on a country-by-country basis) immediately upon written notice to the other Party in the event that any Regulatory Authority
    takes any action, or raises any objection, that prevents the terminating Party from supplying its Compound for purposes of
    the Study. (b) Additionally, either Party shall have the right to terminate this Agreement immediately (in whole or in part)
    upon written notice to the other Party in the event that it determines in its sole discretion to discontinue all development
    of its Compound, for medical, scientific or legal reasons. 
	 	 	 
	 	6.5.	In the event that this Agreement is terminated, Incyte shall, at
    Advaxis’s sole discretion, promptly either return or destroy all unused Advaxis Compound pursuant to Advaxis’s
    instructions. If Advaxis requests that Incyte destroy the unused Advaxis Compound, Incyte shall provide written certification
    of such destruction. Likewise, if Incyte has provided Incyte Compound to Advaxis, Advaxis shall, at Incyte’s sole discretion,
    promptly either return or destroy all unused Incyte Compound pursuant to Incyte’s instructions. If Incyte requests that
    Advaxis destroy any unused Incyte Compound, Advaxis shall provide written certification of such destruction. 

 

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	 	6.6.	The
    provisions of Sections 3.7, 3.8, 3.9, 3.10,     6.5, 6.6, 6.7, 6.8, 13.2, 13.3, 13.4, 14.2 (Indemnification), 14.3 (Limitation
    of Liability), and Articles 1 (Definitions),     4.2 (Costs of Study), 7(Payment Terms & Taxes), 9 (Confidentiality), 10
    (Intellectual Property), 11 (Reprints; Rights     of Cross-Reference), 12 (Publications), 15 (Use of Names), 18 (Assignment
    and Sub-Contracting), 20 (No Additional Obligations),     21 (Dispute Resolution and Jurisdiction), 22 (Notices), 23
    (Relationship of the Parties) and 25 (Construction) shall survive     the expiration or termination of this Agreement,
    provided that, in the event the Parties conduct any activities under Appendix     B beyond the term of this Agreement, then
    the provisions of this Agreement governing ownership and data sharing of the Sample     Testing Results shall remain in
    effect with respect to such activities. 
	 	 	 
	 	6.7.	Termination of this Agreement shall be without prejudice to any
    claim or right of action of either Party against the other Party for any prior breach of this Agreement.
	 	 	 
	 	6.8.	Upon termination of this Agreement, each Party and its Affiliates
    shall promptly return to the other Party or destroy any Confidential Information of the other Party (other than Clinical Data
    and Inventions) furnished to the receiving Party by the other Party, except that the receiving Party shall have the right
    to retain one copy for record-keeping purposes.

 

	7.	Payment Terms
    & Taxes

 

	 	7.1.	Payment Terms: Incyte will
    provide Advaxis with an invoice sent to ap@advaxis.com and supporting documents of Advaxis’s share of the costs incurred
    through the end of each calendar quarter. Such invoices are payable within sixty (60) days after Advaxis’s receipt of
    Incyte’s invoice. All payments by Advaxis to Incyte under this Agreement shall be made in U.S. Dollars to the following
    account via wire transfer: 
	 	 	 
	 	7.2.	Taxes: Incyte shall be liable for all
    income and other taxes (including interest) (“Taxes”) imposed upon any payments made by Advaxis to Incyte under
    this Article 7. No payments made shall be subject to withholding unless required by Applicable Law.

 

	8.	Supply and Use of Compounds

 

	 	8.1.	Supply
    of the Compounds. Incyte and Advaxis will each use commercially reasonable efforts to supply, or cause to be
    supplied,     the quantities of its respective Compound as are set forth in Appendix D, on the timelines set forth in
    Appendix D, in each     case, for use in the Study. In the event that the Party conducting the Study determines that the
    quantities of Compounds set     forth on Appendix D are not sufficient to complete the Study, such Party shall so notify the
    other Party, and the Parties     shall discuss in good faith regarding additional quantities of Compounds to be provided and
    the schedule on which such additional     quantities shall be provided. Each Party shall also provide to the other Party a
    contact person for the supply of its Compound     under this Agreement. Notwithstanding the foregoing, or anything to the
    contrary herein, in the event that either Party is     not supplying its Compound in accordance with the terms of this
    Agreement, or is allocating under Section 8.10, then the other     Party shall have no obligation to supply its Compound, or
    may allocate proportionally.

 

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		8.2.	Minimum
                                         Shelf Life Requirements. Each Party shall provide the other Party with its Compound
                                         with shelf life as set forth in the Clinical Quality Agreement.

 

	 	8.3.	Provision
    of Compounds. 

 

	 	8.3.1.	Advaxis will deliver the Advaxis Compound DAP
    (INCOTERMS 2010) to Incyte’s, or its designee’s, location as specified by Incyte (“Delivery”
    with respect to the Advaxis Compound). Risk of Loss for the Advaxis Compound shall transfer from Advaxis to Incyte at Delivery.
    All costs associated with the subsequent transportation, warehousing and distribution of Advaxis Compound shall be shared
    equally by the Parties. Incyte will: (i) take delivery of the Advaxis Compound supplied hereunder; (ii) perform the acceptance
    (including testing) procedures allocated to it under the Clinical Quality Agreement; (iii) subsequently label and pack (in
    accordance with Section 8.5), and promptly ship the Advaxis Compound to the Study sites, in compliance with cGMP, GCP and
    other Applicable Law and the Clinical Quality Agreement; and (iv) provide, from time to time at the reasonable request of
    Advaxis, the following information: any applicable chain of custody forms, in-transport temperature recorder(s), records and
    receipt verification documentation, such other transport or storage documentation as may be reasonably requested by Advaxis,
    and usage and inventory reconciliation documentation related to the Advaxis Compound.
	 	 	 
	 	8.3.2.	Incyte is solely responsible for supplying (including all Manufacturing,
    acceptance and release testing) the Incyte Compound for the Study, and the subsequent handling, storage, transportation, warehousing
    and distribution of the Incyte Compound supplied hereunder. All costs associated with the subsequent transportation, warehousing
    and distribution of Incyte Compound shall be shared equally by the Parties. Incyte shall ensure that all such activities are
    conducted in compliance with cGMP, GCP and other Applicable Law and the Clinical Quality Agreement. For purposes of this Agreement,
    the “Delivery” of a given quantity of the Incyte Compound shall be deemed to occur when such quantity is
    packaged for shipment to a Study Site or other site as set forth herein. 

 

	 	8.4.	Labeling and
    Packaging; Use, Handling and Storage. 

 

	 	8.4.1.	The Parties’ obligations with respect
    to the labeling and packaging of the Compounds are as set forth in the Clinical Quality Agreement. Notwithstanding the foregoing
    or anything to the contrary contained herein, Advaxis shall provide the Advaxis Compound to Incyte in the form of bulk labeled
    vials, and Incyte shall be responsible for re-labeling, packaging and leafleting the Advaxis Compound in accordance with the
    terms and conditions of the Clinical Quality Agreement and otherwise in accordance with all Applicable Law, including cGMP,
    GCP, and health, safety and environmental protections.
	 	 	 
	 	8.4.2.	Incyte shall (i) use the Advaxis Compound solely for purposes of
    performing the Study; (ii) not use the Advaxis Compound in any manner inconsistent with this Agreement or for any commercial
    purpose; and (iii) use, store, transport, handle and dispose of the Advaxis Compound in compliance with Applicable Law and
    the Clinical Quality Agreement, as well as all reasonable instructions of Advaxis. Incyte shall not reverse engineer, reverse
    compile, disassemble or otherwise attempt to derive the composition or underlying information, structure or ideas of the Advaxis
    Compound, and in particular shall not analyze the Advaxis Compound by physical, chemical or biochemical means except as necessary
    to perform its obligations under the Clinical Quality Agreement.

 

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	 	8.5.	Product Specifications.
    A certificate of analysis shall accompany each shipment of the Advaxis Compound to Incyte and each shipment of the Incyte
    Compound to Advaxis. Incyte shall be responsible for any failure of the Advaxis Compound to meet the Specifications to the
    extent caused by shipping, storage or handling conditions after Delivery (and performance of the acceptance procedures) to
    Incyte hereunder. 
	 	 	 
	 	8.6.	Changes to Manufacturing.
    Each Party may make changes from time to time to its Compound or the Manufacturing Site without notice to the other Party;
    provided that such changes shall be in accordance with cGMP and the Clinical Quality Agreement.
	 	 	 
	 	8.7.	Product Testing; Noncompliance.
    

 

	 	8.7.1.	After Manufacturer’s Release. After
    Manufacturer’s Release of the Advaxis Compound but prior to shipment to Incyte, Advaxis shall provide Incyte with such
    certificates and documentation as are described in the Clinical Quality Agreement (“Disposition Package”).
    Incyte shall, upon receipt of the Advaxis Compound and within the time defined in the Clinical Quality Agreement, perform
    (i) with respect to the Advaxis Compound, the acceptance (including applicable testing) procedures allocated to it under the
    Clinical Quality Agreement, and (ii) with respect to the Incyte Compound, the testing and release procedures allocated to
    it under the Clinical Quality Agreement. Once Incyte has received and performed the acceptance procedures on the Advaxis Compound,
    Incyte shall be solely responsible for taking all steps necessary to determine that the Advaxis Compound or Incyte
    Compound, as applicable, is suitable for release before making such Advaxis Compound or Incyte Compound, as applicable, available
    for human use. For clarity, Incyte shall store and maintain the Advaxis Compound until it is released, which storage and maintenance
    shall be in compliance with (a) the Specifications for the Advaxis Compound, the Clinical Quality Agreement and Applicable
    Law, and (b) any specific storage and maintenance requirements as may be provided by Advaxis from time to time.

 

	 	8.7.2.	Non-Conformance. 

 

	 	8.7.2.1.	In the event that Incyte becomes aware that
    the Advaxis Compound may have a Non-Conformance, despite testing and quality assurance activities (including any activities
    conducted by the Parties under Sections 8.7.1 (After Manufacturer’s Release)), Incyte shall immediately notify
    Advaxis in accordance with the procedures of the Clinical Quality Agreement. The Parties shall investigate any Non-Conformance
    in accordance with Section 8.9 (Investigations) and any discrepancy between them shall be resolved in accordance with
    Section 8.8 (Resolution of Discrepancies). 
	 	 	 
	 	8.7.2.2.	In the event that any proposed or actual shipment of the Advaxis
    Compound (or portion thereof) shall be agreed to have a Non-Conformance at the time of Delivery to Incyte, then unless otherwise
    agreed to by the Parties, Advaxis shall replace the non-conforming Advaxis Compound (with respect to Advaxis Compound that
    has not yet been administered in the course of performing the Study). Unless otherwise agreed to by the Parties in writing,
    the sole and exclusive remedies of Incyte with respect to any Advaxis Compound that is found to have a Non-Conformance at
    the time of Delivery shall be (i) replacement of such Advaxis Compound as set forth in this Section 8.7.2.2, (ii) indemnification
    under Section 14.2 (to the extent applicable) and (iii) termination of this Agreement pursuant to Section 6.3 (to the extent
    applicable, but subject to the applicable cure periods set forth therein); provided that, for clarity, Incyte shall not be
    deemed to be waiving any rights under Section 8.16. In the event Advaxis Compound is lost or damaged by Incyte after Delivery,
    Advaxis shall provide additional Advaxis Compound to Incyte; provided that Incyte shall reimburse Advaxis for the manufacturing
    and shipping costs of the replaced Advaxis Compound. Except as set forth in the foregoing sentence, Advaxis shall have no
    obligation to provide replacement Advaxis Compound for any Advaxis Compound supplied hereunder other than Advaxis Compound
    as has been agreed or determined to have a Non-Conformance at the time of Delivery to Incyte.

 

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	 	8.7.2.3.	Incyte shall be responsible for, and Advaxis
    shall have no obligations or liability with respect to, any Incyte Compound supplied hereunder that is found to have a Non-Conformance.
    Incyte shall replace any Incyte Compound as is found to have a Non-Conformance (with respect to Incyte Compound that has not
    yet been administered in the course of performing the Study). Unless otherwise agreed to by the Parties in writing, the sole
    and exclusive remedies of Advaxis with respect to any Incyte Compound that is found to have a Non-Conformance at the time
    of Delivery shall be (i) replacement of such Incyte Compound as set forth in this Section 8.7.2.3, (ii) indemnification under
    Section 14.2 (to the extent applicable) and (iii) termination of this Agreement pursuant to Section 6.3 (to the extent applicable,
    but subject to the applicable cure periods set forth therein); provided that, for clarity, Advaxis shall not be deemed to
    be waiving any rights under Section 8.16.

 

	 	8.8.	Resolution
    of Discrepancies. If Advaxis disagrees with any determination of Non-Conformance by Incyte, such discrepancy shall
    be escalated to the head of quality of each Party (or such person’s designee) for resolution. 
	 	 	 
	 	8.9.	Investigations.
    The process for investigations of any Non-Conformance shall be handled in accordance with the provisions set forth in the
    Clinical Quality Agreement.
	 	 	 
	 	8.10.	Shortage; Allocation.
    In the event of a shortage of a Compound such that a Party reasonably believes that it will not be able to fulfill its supply
    obligations hereunder with respect to its Compound, such Party will provide prompt written notice to the other Party thereof
    (including the quantity of its Compound that such Party reasonably determines it will be able to supply) and, upon request,
    the Parties will promptly discuss such situation (including how the quantities of Compound that such Party is able to supply
    hereunder will be allocated within the Study). Notwithstanding anything to the contrary contained herein, in the event of
    a bona fide shortage of a Party’s Compound, the Party experiencing such shortage shall have sole discretion, subject
    to Applicable Law, to determine the quantity of Compound it will be able to supply as a result of such shortage, and such
    Party shall not be deemed to be in breach of this Agreement for failure to supply any other quantities of such Party’s
    Compound hereunder as a result of such shortage. In case of one Party’s shortage of its Compound, the other Party shall
    be proportionately relieved of its obligations under this Agreement as they directly relate to the shortage. 
	 	 	 
	 	8.11.	Regulatory Responsibility.
    The responsibilities of the Parties with respect to communication and filings with Regulatory Authorities related to the Compounds
    supplied hereunder in connection with the Study will be as set forth in the Pharmacovigilance Agreement and the Clinical Quality
    Agreement entered into by the Parties or their Affiliates in connection herewith, except that Advaxis will separately submit
    any CMC information with respect to the Advaxis Compound directly to any Regulatory Authorities as may be necessary. 

 

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	 	8.12.	Records; Audit
    Rights. 

 

	 	8.12.1.	Incyte will keep complete and accurate records
    pertaining to its use and disposition of Advaxis Compound (including its storage, shipping and chain of custody activities)
    and, upon reasonable request of Advaxis, will make such records open to review by Advaxis for the purpose of conducting investigations
    for the determination of Advaxis Compound safety and/or efficacy and Incyte’s compliance with this Agreement with respect
    to the Advaxis Compound.
	 	 	 
	 	8.12.2.	Each
Party shall maintain complete and accurate records pertaining to its Manufacture of its Compound supplied hereunder, and, upon
reasonable request of the other Party, will make such records open to review by such other Party in accordance with the Clinical
Quality Agreement for the purpose of confirming such Party’s compliance with this Agreement with respect to its Manufacturing
obligations hereunder.

 

	 	8.13.	Quality.
    Quality matters related to the Manufacture of the Compounds shall be governed by the terms of the Clinical Quality Agreement
    in addition to the relevant quality terms of this Agreement.
	 	 	 
	 	8.14.	Quality Control.
    Each Party shall implement and perform operating procedures and controls for sampling, stability and other testing of its
    Compound, and for validation, documentation and release of its Compound and such other quality assurance and quality control
    procedures as are required by the Specifications, cGMPs and the Clinical Quality Agreement.
	 	 	 
	 	8.15.	Audits and Inspections.
    The Parties’ audit and inspection rights are governed by the terms of the Clinical Quality Agreement.
	 	 	 
	 	8.16.	Recalls. Recalls
    of the Compounds shall be governed by the terms of the Clinical Quality Agreement.

 

	9.	Confidentiality

 

	 	9.1.	Prior to the Effective Date of this Agreement,
    Incyte and Advaxis entered into a certain Confidentiality Agreement dated September 2, 2014 (“CDA”). The CDA is
    hereby terminated and replaced by the terms of this Agreement. Any information previously disclosed by the Parties pursuant
    to the CDA shall now be Confidential Information for purposes of this Agreement and the Parties shall treat it as such in
    accordance with the terms hereof.
	 	 	 
	 	9.2.	Incyte and Advaxis agree to hold in confidence any Confidential
    Information provided by the other Party, and neither Party shall use Confidential Information of the other Party except to
    fulfill such Party’s obligations under this Agreement. Without limiting the foregoing, Advaxis may not use Confidential
    Information disclosed by or on behalf of Incyte relating to the Incyte Compound or the Incyte IDO1 program other than for
    purposes of the Study. Incyte may not use Confidential Information disclosed by or on behalf of Advaxis relating to the Advaxis
    Compound or the Advaxis LM-LLO program other than for purposes of the Study. Neither Party shall, without the prior written
    permission of the other Party, disclose any Confidential Information of the other Party to any Third Party except to the extent
    disclosure (i) is required by Applicable Law; (ii) is pursuant to the terms of this Agreement; or (iii) is necessary for the
    conduct of the Study, and in each case ((i) through (iii)) provided that the disclosing Party shall provide reasonable advance
    notice to the other Party before making such disclosure and further provided that the recipient of such Confidential Information
    shall be bound by an obligation of confidentiality consistent with the obligations contained herein. For the avoidance of
    doubt, Incyte may, without Advaxis’s consent, disclose Confidential Information to clinical trial sites and clinical
    trial investigators performing the Study, the data safety monitoring and advisory board relating to the Study, and regulatory
    agencies such as the FDA, EMA or other health authorities working with Incyte on the Study, in each case to the extent necessary
    for the performance of the Study and provided that such persons (other than governmental entities) are bound by an obligation
    of confidentiality consistent with the obligations contained herein. 

 

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	 	9.3.	Notwithstanding the foregoing, (i) Inventions
    that constitute Confidential Information and are jointly owned by the Parties, shall constitute the Confidential Information
    of both Parties and each Party shall have the right to use such Confidential Information consistent with Articles 10, 11 and
    12 and (ii) Inventions that constitute Confidential Information and are solely owned by one Party shall constitute the Confidential
    Information of that Party and each Party shall have the right to use such Confidential Information consistent with Articles
    10, 11 and 12.
	 	 	 
	 	9.4.	All Confidential Information containing personal identifiable data
    shall be handled in accordance with all data protection and privacy laws, rules and regulations applicable to such Party.

 

	10.	Intellectual Property

 

	 	10.1.	Joint Ownership
    and Prosecution.

 

	 	10.1.1.	Subject to Sections 10.2 and 10.3, all rights
    to all Inventions embodying, claiming and/or covering the Combination (each a “Jointly Owned Invention”), and
    all Know-How that (i) is generated jointly by the Parties in the performance of the Study, which includes the Protocol, and
    (ii) is not a Jointly Owned Invention (“Collaboration Know-How”), shall be owned jointly by Incyte and Advaxis,
    and each Party hereby assigns to the other a joint ownership interest in all such Jointly Owned Inventions and Collaboration
    Know-How. Except as set forth in Section 10.1.3.2 below, Incyte and Advaxis shall each be entitled to use the Jointly Owned
    Inventions without accounting or financial payment to the other Party and without the consent of the other Party. For those
    countries where a specific license is required for a joint owner of a Jointly Owned Invention to practice such Jointly Owned
    Invention in such countries, (i) Advaxis hereby grants to Incyte a, non-exclusive, worldwide, royalty-free, fully paid-up
    license, transferable and sublicensable, under Advaxis’s right, title and interest in and to all Jointly Owned Inventions
    and Collaboration Know-How to use such Inventions and Know-How without restriction and (ii) Incyte hereby grants to Advaxis
    a, non-exclusive, worldwide, royalty-free, fully paid-up license, transferable and sublicensable, under Incyte’s right,
    title and interest in and to all Jointly Owned Inventions and Collaboration Know-How to use such Inventions and Know-How without
    restriction. For clarity, the terms of this Agreement do not provide Incyte or Advaxis with any rights, title or interest
    or any license to the other Party’s Background Intellectual Property except as necessary to conduct the Study.
	 	 	 
	 	10.1.2.	Promptly following the Effective Date, patent representatives of
    each of the Parties shall meet (in person or by telephone) to discuss the patenting strategy for any Jointly Owned Inventions
    which may arise. In particular, the Parties shall discuss which Party will file a patent application (s) (the “Filing
    Party”) (including any provisional, substitution, divisional, continuation, continuation in part, reissue, renewal,
    reexamination, extension, supplementary protection certificate and the like) and prosecution in respect of any Jointly Owned
    Invention (each, a “Joint Patent Application”) and have final decision making authority with respect thereto.
    The Parties shall decide whether to appoint mutually acceptable joint patent counsel for filing and prosecution of applications.
    In the event that the Parties fail to agree on the filing strategy of a Jointly Owned Invention the matter will be referred
    to the JDC under Section 3.8. In any event, the Parties shall consult and reasonably cooperate with one another in, and shall
    equally share the expenses for, the preparation, filing, prosecution (including prosecution strategy) and maintenance of Joint
    Patent Applications and Joint Patents, including defense of any invalidity challenges thereto. The Filing Party shall provide
    the other Party with copies of draft Joint Patent Application and any Office Actions, communications, reporting letters, and
    proposed responses thereto, assignments, and related documents at least fifteen (15) days prior to any deadline for filing
    and will incorporate the reasonable comments of the Non-Prosecuting Party timely received ahead of such deadline. In the event
    that Filing Party wishes to file a patent application for a Jointly Owned Invention and the other Party (the “Non-filing
    Party”) does not want to file any patent application for such Jointly Owned Invention or does not want to file in a
    particular country, the Non-filing Party shall execute such documents and perform such acts at the Filing Party’s expense
    as may be reasonably necessary to effect an assignment of such Jointly Owned Invention to the Filing Party (in such country
    or all countries, as applicable) in a timely manner to allow the Filing Party to prosecute such patent application. Likewise,
    if a Party (the “Opting-out Party”) wishes to discontinue the prosecution and maintenance of a Joint Patent Application,
    the other Party, at its sole option (the “Continuing Party”), may continue such prosecution and maintenance. In
    such event, the Opting-out Party shall execute such documents and perform such acts at the Continuing Party’s expense
    as may be reasonably necessary to effect an assignment of such Joint Patent Application to the Continuing Party (in such country
    or all countries, as applicable) in a timely manner to allow the Continuing Party to prosecute and maintain such patent application.
    Any Joint Patent Application or Jointly Owned Invention so assigned shall thereafter be owned solely by the Continuing Party
    or Filing Party (as applicable), and the Opting-out Party or Non-filing Party (as applicable) shall have no right to practice
    under such Joint Patent Application or any patent claiming such Jointly Owned Invention in the applicable country or countries
    and, for the avoidance of doubt, any such patent, when issued, shall not be a Joint Patent. 

 

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	 	10.1.3.	 

 

	 	10.1.3.1.	Except as expressly provided in Section 10.1.2,
    each Party agrees not (a) to include or claim any data, compositions, information, methods and results; or (b) to file or
    prosecute any patent application, of or based on the other Party’s Confidential Information, and to give no assistance
    to any Third Party for such application, without the other Party’s prior written authorization.
	 	 	 
	 	10.1.3.2.	Each Party covenants and agrees that it will not assign or license
    to any Third Party its rights to any claim in a Joint Patent Application or Joint Patent that specifically claims the Combination,
    except as necessary to research develop and/or commercialize its respective Compound for use in the Combination.

 

	 	10.1.4.	Each
    Party shall promptly provide the other Party with written notice reasonably detailing any known or alleged infringement or
    misappropriation by a Third Party of Joint Patents, as well as any declaratory judgment or similar actions alleging the invalidity,
    unenforceability or non-infringement of Joint Patents. Incyte shall have the first right to initiate legal action to enforce
    all Joint Patents against infringement or misappropriation by any Third Party that is manufacturing, developing, marketing,
    or seeking to market, a Selective IDO1 Inhibitor, and/or the Combination or to defend any declaratory judgment action relating
    thereto, at its sole expense. In the event such course of action includes litigation, Advaxis may choose, at its own expense,
    to be represented in such action by counsel of its own choice. If Advaxis is required as a necessary party to such action,
    each Party shall pay its respective expenses associated therewith. In the event that Incyte fails to initiate or defend such
    action within thirty (30) days after being first notified of such infringement, Advaxis shall have the right to do so at its
    sole expense. Advaxis shall have the first right to initiate legal action to enforce all Joint Patents against infringement
    or misappropriation by any Third Party that is manufacturing, developing, marketing, or seeking to market, an Advaxis Compound
    and, , or any other alleged infringement not solely related to the Incyte Compound or the Combination, or to defend any declaratory
    judgment action relating thereto, at its sole expense. In the event such course of action includes litigation, Incyte may
    choose, at its own expense, to be represented in such action by counsel of its own choice. If Incyte is required as a necessary
    party to such action, each Party shall pay its respective expenses associated therewith. In the event that Advaxis fails to
    initiate or defend such action within thirty (30) days after being first notified of such infringement, Incyte shall have
    the right to do so at its sole expense. Each Party shall keep the other Party reasonably informed as to any legal or commercial
    courses of action it pursues pursuant to this subsection. In  connection with any proceeding, neither Party shall enter
    into any settlement without the prior written consent of the other Party. 

 

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	 	10.1.5.	If
    one Party brings any prosecution or enforcement action or proceeding against a Third Party with respect to any Joint Patent,
    the second Party agrees to be joined as a party plaintiff where necessary and to give the first Party reasonable assistance
    and authority to file and prosecute the suit, at the first Party’s expense. The costs and expenses of the Party bringing
    suit under this Section 10.1.5 shall be borne by such Party, and any damages or other monetary awards recovered shall be shared
    as follows: (i) the amount of such recovery actually received by the Party controlling such action shall be first applied
    proportionately to the out-of-pocket costs of each Party in connection with such action; and then (ii) any remaining proceeds
    shall be divided evenly between Incyte and Advaxis. A settlement or consent judgment or other voluntary final disposition
    of a suit under this Section 10.1.5 may not be entered into without the consent of the Party not bringing the suit. 

 

	 	10.2.	Inventions
    Owned by Incyte. Notwithstanding Section 10.1, the Parties agree that all rights to Inventions relating solely to
    the Incyte Compound, or a Selective IDO1 Inhibitor, are the exclusive property of Incyte, and Advaxis hereby assigns any rights
    in such Inventions to Incyte. Incyte shall be entitled to file in its own name relevant patent applications and to own resultant
    patent rights for any such Invention. For the avoidance of doubt, any Invention generically encompassing the Incyte Compound
    (and not the Advaxis Compound) within its scope, even where the Incyte Compound is not disclosed per se, is the exclusive
    property of Incyte and Advaxis hereby assigns all of its rights in any such Invention to Incyte. 
	 	 	 
	 	10.3.	Inventions Owned by Advaxis.
    Notwithstanding Section 10.1, the Parties agree that all rights to Inventions relating solely to the Advaxis Compound are
    the exclusive property of Advaxis, and Incyte hereby assigns any rights in such Inventions to Advaxis. Advaxis shall be entitled
    to file in its own name relevant patent applications and to own resultant patent rights for any such Invention. For the avoidance
    of doubt, any Invention generically encompassing the Advaxis Compound (and not the Incyte Compound) within its scope, even
    where the Advaxis Compound is not disclosed per se, is the exclusive property of Advaxis and Incyte hereby assigns all of
    its rights in any such Invention to Advaxis.

 

	11.	Reprints; Rights of Cross Reference

 

	 	11.1.	Consistent with applicable copyright and other
    laws, each Party may use, refer to, and disseminate reprints of scientific, medical and other published articles and materials
    from journals, conferences and/or symposia relating to the Study which disclose the name of the other Party, provided such
    use does not constitute an endorsement of any commercial product or service by the other Party. The Parties may not engage
    in the pre-approval promotion of the Compounds in conjunction with the usage, reference to, or dissemination of any such publications
    or materials. 

 

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	12.	Publications

 

	 	12.1.	Incyte will register the Study with the Clinical
    Trials Registry located at www.clinicaltrials.gov no sooner than four (4) weeks prior to the date of First Site Ready (the
    “First Site Ready Date”), and no later than the First Site Ready Date, except to the extent required otherwise
    by Applicable Law and is committed to timely publication of the results following Study Completion, after the Parties have
    taken appropriate action to secure intellectual property rights (if any) arising from the Study. In addition, each Party shall
    provide the other Party with the opportunity to review and approve any proposed sponsored research involving the other Party’s
    Compound under Section 3.10 and review any postings on www.clinicaltrials.gov prior to the First Site Ready Date posting to
    allow for the preservation of intellectual property rights (if any). Subject to Section 12.3, Incyte shall take the lead in
    drafting the first joint abstract, presentation or publication of the interim (as appropriate) and final results of the Study
    in each venue. Authorship of publications of the Clinical Data will be determined in accordance with appropriate scientific
    and academic standards and customs. Proper acknowledgement will be made for the contributions of each Party to the Clinical
    Data.
	 	 	 
	 	12.2.	The Parties shall use reasonable efforts to jointly publish or
    present scientific papers dealing with the Study in accordance with accepted scientific practice and their internal policies
    and procedures. 
	 	 	 
	 	12.3.	The
Parties agree that prior to submission of the results of the Study for publication or presentation or any other dissemination
of results including oral dissemination, the publishing Party shall invite the other to comment on the content of the material
to be published or presented according to the following procedure: 

 

	 	(i)	At least thirty (30) days prior to submission
    for publication of any paper, letter or any other publication, or ten (10) days prior to submission for presentation of any
    abstract, poster, talk or any other presentation, the publishing Party shall provide to the other Party the details of the
    proposed publication or presentation in an electronic version (cd-rom or email attachment). Upon written request from the
    other Party, the publishing Party agrees not to submit data for publication/presentation for thirty (30) days in order to
    allow for actions to be taken to preserve rights for patent protection.
	 	 	 
	 	(ii)	The publishing Party shall give reasonable consideration to any
    request by the other Party made within the periods mentioned in clause (i) above to modify the publication.
	 	 	 
	 	(iii)	The publishing Party shall remove all Confidential Information
    of the other Party before finalizing the publication.

 

	 	12.4.	Except as outlined in Section 12.1 and except
    as required by judicial order or Applicable Law, neither Party shall make any public announcement concerning this Agreement
    without the prior written consent of the other Party. The Party preparing any such public announcement shall provide the other
    Party with a draft thereof at least three (3) Business Days prior to the date on which such Party would like to make the public
    announcement. Notwithstanding the foregoing, Advaxis shall issue a press release, in the form attached as Appendix E (including
    that the parties are co-funding the Study and the general design of the Study including the indications being evaluated),
    no later than two (2) days after the Effective Date to announce the execution of this Agreement. Future press releases may
    be made at mutually agreeable times if mutually agreed upon. Each Party agrees to identify the other Party and acknowledge
    its support in any publication or presentation of the results of the Study.

 

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Confidential

 

	13.	Representations
                                         and Warranties; Disclaimers

 

	 	13.1.	Each of Incyte and Advaxis represents and warrants
    to the other that it has the full right and authority to enter into this Agreement and to perform its obligations hereunder.
	 	 	 
	 	13.2.	Incyte does not undertake that the Study shall lead to any particular
    result, nor is the success of the Study guaranteed. Neither Party accepts any responsibility for any use that the other Party
    may make of the Clinical Data nor for advice or information given in connection therewith. 
	 	 	 
	 	13.3.	Anti-Corruption

 

	 	13.3.1.	In performing their respective obligations hereunder,
    the Parties acknowledge that the corporate policies of Incyte and Advaxis and their respective Affiliates require that each
    Party’s business be conducted within the letter and spirit of the law. By signing this Agreement, each Party agrees
    to conduct the business contemplated herein in a manner which is consistent with all Applicable Law, including the U.S. Foreign
    Corrupt Practices Act, good business ethics, and its ethics and other corporate policies. In addition, Advaxis has provided
    Incyte with a copy of its Ethical Interactions Policy (http://www.advaxis.com/....), and Incyte has provided Advaxis with
    Incyte’s Code of Business Conduct and Ethics, and each Party agrees to abide by the spirit of the other Party’s
    guidelines, which may be updated from time to time by written notice.
	 	 	 
	 	 	Specifically, each Party agrees that it has not, and covenants
    that it, its Affiliates, and its and its Affiliates’ directors, employees, officers, and anyone acting on its behalf,
    will not, in connection with the performance of this Agreement, directly or indirectly, make, promise, authorize, ratify or
    offer to make, or take any action in furtherance of, any payment or transfer of anything of value for the purpose of influencing,
    inducing or rewarding any act, omission or decision to secure an improper advantage; or improperly assisting it in obtaining
    or retaining business for it or the other Party, or in any way with the purpose or effect of public or commercial bribery.
	 	 	 
	 	13.3.2.	Neither Party shall contact, nor otherwise knowingly meet with,
    any Government Official for the purpose of discussing activities arising out of or in connection with this Agreement, without
    the prior written approval of the other Party, except where such meeting is consistent with the purpose and terms of this
    Agreement and in compliance with Applicable Law. In such situations, the discussing party will promptly notify the other party
    of the Government official discussion.
	 	 	 
	 	13.3.3.	Each Party represents that: (i) it is authorized and has no impediment
    to enter into the transaction contemplated in this Agreement; and (ii) it is not excluded, debarred, suspended, proposed for
    suspension or debarment, or otherwise ineligible for government programs.

 

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	 	13.3.4.	Each Party represents and warrants that except
    as disclosed to the other in writing prior to the Effective Date of this Agreement: (1) it does not have any interest which
    directly or indirectly conflicts with its proper and ethical performance of this Agreement; (2) it shall maintain arm’s
    length relations with all Third Parties with which it deals for or on behalf of the other in performance of this Agreement;
    and (3) it has provided, to the best of its knowledge, complete and accurate information and documentation to the other Party,
    the other Party’s Affiliates and its and their personnel in the course of due diligence conducted by the other Party
    for this Agreement, including disclosure of any officers, employees, owners or persons directly or indirectly retained by
    such Party in relation to the performance of this Agreement who are Government Officials or relatives of Government Officials.
    Each Party shall make all further disclosures as necessary to the other Party to ensure the information provided remains complete
    and accurate throughout the term of this Agreement. Subject to the foregoing, each Party agrees that it shall not knowingly
    hire or retain any Government Official to assist in its performance of this Agreement, with the sole exception of conduct
    of or participation in clinical trials under this Agreement. Each Party further covenants that any future information and
    documentation submitted to the other Party as part of further due diligence or a certification shall be complete and accurate.
	 	 	 
	 	13.3.5.	Each Party shall have the right during the term of this Agreement,
    and for a period of two (2) years following termination of this Agreement, to conduct, upon reasonable request, an investigation
    and audit of the other Party’s activities, books and records, to the extent they relate to the other Party’s performance
    under this Agreement and to verify compliance with the terms of this Section 13.3. Such other Party shall cooperate fully
    with such investigation or audit, the scope, method, nature and duration of which shall be at the sole reasonable discretion
    of the Party requesting such audit. 
	 	 	 
	 	13.3.6.	Each Party shall ensure that all transactions under the Agreement
    are properly and accurately recorded in all material respects on its books and records and that each document upon which entries
    in such books and records are based is complete and accurate in all material respects. Each Party further represents, warrants
    and covenants that all books, records, invoices and other documents relating to payments and expenses under this Agreement
    are and shall be complete and accurate and reflect in reasonable detail the character and amount of transactions and expenditures.
    Each Party must maintain a system of internal accounting controls reasonably designed to ensure that no off-the-books or similar
    funds or accounts will be maintained or used in connection with this Agreement. 
	 	 	 
	 	13.3.7.	Each Party shall comply with its own ethical business practices
    policy and shall conduct its Study-related activities in accordance with Applicable Law. Each Party agrees to ensure that
    all of its employees involved in performing its obligations under this Agreement are made specifically aware of the compliance
    requirements under this Section 13.3. In addition, each Party agrees to ensure that all such employees participate in and
    complete mandatory compliance training to be conducted by each Party, including specific training on anti-bribery and corruption,
    in accordance with such Party’s standard operating procedures with respect to training. Each Party further agrees to
    certify its continuing compliance with the requirements under this Section 13.3 on a periodic basis during the term of this
    Agreement in such form as may be reasonably specified by the other Party.

 

	 	13.4.	EXCEPT AS EXPRESSLY PROVIDED HEREIN, ADVAXIS
    MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH
    RESPECT TO THE ADVAXIS COMPOUND, AND INCYTE MAKES NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY
    OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE INCYTE COMPOUND. Incyte assumes no responsibility and shall have
    no liability for the nature, conduct or results of any research, testing or other work performed by or on behalf of Advaxis
    hereunder. Advaxis assumes no responsibility and shall have no liability for the nature, conduct or results of any research,
    testing or other work performed by or on behalf of Incyte hereunder.

 

    	21

    	 	 	 

    

 

Confidential

 

	14.	Insurance; Indemnification; Limitation of
    Liability

 

	 	14.1.	Insurance.
    Each Party warrants that it maintains a policy or program of insurance or self-insurance at levels sufficient to support the
    indemnification obligations assumed herein. Upon written request, a Party shall provide evidence of such insurance.

 

	 	14.2.	Indemnification.
    

 

	 	14.2.1.	Indemnification by Incyte. Incyte agrees to
    defend, indemnify and hold harmless Advaxis, its Affiliates, and its and their employees, directors, subcontractors and agents
    from and against any loss, damage, reasonable costs and expenses (including reasonable attorneys’ fees and expenses)
    incurred in connection with any claim, proceeding, or investigation by a Third Party arising out of this Agreement or the
    Study (a “Liability”), to the extent that such Liability (A) was directly caused by (i) negligence or willful
    misconduct on the part of Incyte (or any of its Affiliates, or its or their employees, directors, subcontractors or agents);
    (ii) a breach on the part of Incyte of any of its representations and warranties or any other covenants or obligations of
    Incyte under this Agreement; or (iii) a breach of Applicable Law by Incyte, or (B) is determined to be attributable to the
    Incyte Compound except to the extent any such claims arise from the gross negligence or intentional misconduct of Advaxis.
	 	 	 
	 	14.2.2.	Indemnification by Advaxis. Advaxis agrees to defend, indemnify
    and hold harmless Incyte, its Affiliates, and its and their employees, directors, subcontractors and agents from and against
    any Liability to the extent such Liability (A) was directly caused by (i) negligence or willful misconduct on the part of
    Advaxis (or any of its Affiliates, or its and their employees, directors, subcontractors or agents); (ii) a breach on the
    part of Advaxis of any of its representations and warranties or any other covenants or obligations of Advaxis under this Agreement;
    or (iii) a breach of Applicable Law by Advaxis; or (B) is determined to be attributable to the Advaxis Compound except to
    the extent any such claims arise from the gross negligence or intentional misconduct of Incyte.
	 	 	 
	 	14.2.3.	Other Liability. Any Liability contemplated by this agreement which
    is not indemnifiable under either Section 14.2.1 or 14.2.2. shall be shared equally by the Parties.
	 	 	 
	 	14.2.4.	Procedure. The obligations of Advaxis and Incyte under this Section
    14.2 are conditioned upon the delivery of written notice to Advaxis or Incyte, as the case might be, of any potential Liability
    within a reasonable time after the indemnified Party becomes aware of such potential Liability. The indemnifying Party will
    have the right to assume the defense of any suit or claim related to the Liability if it has assumed responsibility for the
    suit or claim in writing. The indemnified Party may participate in (but not control) the defense thereof at its sole cost
    and expense.
	 	 	 
	 	14.2.5.	Study Subjects. Incyte shall not offer compensation on behalf of
    Advaxis to any Study subject or bind Advaxis to any indemnification obligations in favor of any Study subject.

 

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Confidential

 

	 	14.3.	LIMITATION
    OF LIABILITY. OTHER THAN WITH RESPECT TO THE OBLIGATIONS OF EACH PARTY UNDER ARTICLE 9, IN NO EVENT SHALL EITHER PARTY
    (OR ANY OF ITS AFFILIATES OR SUBCONTRACTORS) BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE
    OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS OR DAMAGES FOR LOST OPPORTUNITIES), WHETHER IN CONTRACT, WARRANTY, NEGLIGENCE,
    TORT, STRICT LIABILITY OR OTHERWISE, ARISING OUT OF (x) THE MANUFACTURE OR USE OF ANY COMPOUND SUPPLIED HEREUNDER OR (y) ANY
    BREACH OF OR FAILURE TO PERFORM ANY OF THE PROVISIONS OF THIS AGREEMENT OR ANY REPRESENTATION, WARRANTY OR COVENANT CONTAINED
    IN OR MADE PURSUANT TO THIS AGREEMENT, EXCEPT THAT SUCH LIMITATION SHALL NOT APPLY TO DAMAGES PAID OR PAYABLE TO A THIRD PARTY
    BY AN INDEMNIFIED PARTY FOR WHICH THE INDEMNIFIED PARTY IS ENTITLED TO INDEMNIFICATION HEREUNDER.

 

	15.	Use of Names

 

	 	15.1.	Except as otherwise provided herein, neither
    Party shall have any right, express or implied, to use in any manner the name or other designation of the other Party or any
    other trade name, trademark or logo of the other Party for any purpose in connection with the performance of this Agreement.

 

	16.	Force Majeure

 

	 	16.1.	If in the performance of this Agreement, one
    of the Parties is prevented, hindered or delayed by reason of any cause beyond such Party’s reasonable control (e.g.,
    war, riots, fire, strike, governmental laws), such Party shall be excused from performance to the extent that it is necessarily
    prevented, hindered or delayed (“Force Majeure”). The non-performing Party will notify the other Party
    of such Force Majeure within ten (10) days after such occurrence by giving written notice to the other Party stating the nature
    of the event, its anticipated duration, and any action being taken to avoid or minimize its effect. The suspension of performance
    will be of no greater scope and no longer duration than is necessary and the non-performing Party will use commercially reasonable
    efforts to remedy its inability to perform.

 

	17.	Entire Agreement; Modification

 

	 	17.1.	The
Parties agree to the full and complete performance of the mutual covenants contained in this Agreement. This Agreement, together
with the Clinical Quality Agreement and the Pharmacovigilance Agreement, constitutes the sole, full and complete agreement by
and between the Parties with respect to the subject matter of this Agreement, and all prior agreements, understandings, promises
and representations, whether written or oral, with respect thereto are superseded by this Agreement. No amendments, changes, additions,
deletions or modifications to or of this Agreement shall be valid unless reduced to writing and signed by the Parties hereto.

 

	18.	Assignment and Sub-Contracting

 

	 	18.1.	Neither Party shall assign or transfer this
    Agreement without the prior written consent of the other Party, which consent shall not be unreasonably withheld; provided,
    however, that either Party may assign this Agreement to one or more of its Affiliates without the other Party’s consent,
    and any and all rights and obligations of either Party may be exercised or performed by its Affiliates, provided that such
    Affiliates agree to be bound by this Agreement. Notwithstanding the foregoing, either Party may assign this Agreement to a
    Third Party successor to all or substantially all of its business relating to its respective Compound, whether by merger,
    sale of stock, sale of assets or otherwise.

 

    	23

    	 	 	 

    

 

Confidential

 

	19.	Invalid Provision

 

	 	19.1.	If any provision of this Agreement is held to
    be illegal, invalid or unenforceable, the remaining provisions shall remain in full force and effect and will not be affected
    by the illegal, invalid or unenforceable provision. In lieu of the illegal, invalid or unenforceable provision, the Parties
    shall negotiate in good faith to agree upon a reasonable provision that is legal, valid and enforceable to carry out as nearly
    as practicable the original intention of the entire Agreement.

 

	20.	No Additional Obligations

 

	 	20.1.	Incyte and Advaxis have no obligation to renew
    this Agreement or apply this Agreement to any clinical trial other than the Study. Neither Party is under any obligation to
    enter into another type of agreement at this time or in the future.

 

	21.	Dispute Resolution and Jurisdiction

 

	 	21.1.	The Parties shall attempt in good faith to settle
    all disputes arising out of or in connection with this Agreement in an amicable manner. Any claim, dispute or controversy
    arising out of or relating to this Agreement, including the breach, termination or validity hereof or thereof (each, a “Dispute”),
    shall be governed by and construed in accordance with the substantive laws of the State of Delaware, without giving effect
    to its choice of law principles.
	 	 	 
	 	21.2.	Nothing contained in this Agreement shall deny either Party the
    right to seek injunctive or other equitable relief from a court of competent jurisdiction in the context of a bona fide emergency
    or prospective irreparable harm, and such an action may be filed or maintained notwithstanding any ongoing discussions between
    the Parties.

 

	22.	Notices

 

	 	22.1.	All notices or other communications that are
    required or permitted hereunder shall be in writing and delivered personally, sent by facsimile (and promptly confirmed by
    personal delivery or overnight courier), or sent by internationally-recognized overnight courier addressed as follows:

 

If
to Incyte, to:

 

1801 Augustine
Cut-Off

Wilmington,
DE 19803

Attn: Executive
Vice President, Business Development

 

With a copy
to:

 

1801 Augustine
Cut-Off

Wilmington,
DE 19803

Attn: General
Counsel

 

    	24

    	 	 	 

    

 

If
to Advaxis, to:

 

305 College
Road East

Princeton,
NJ

Attn: Executive
Vice President, Chief Operating Officer

 

With a copy
to:

 

Pearl Cohen
Zedek Latzer Baratz, LLP

1500 Broadway,
12th Floor

New York,
New York 10036

Email:
mcohen@pearlcohen.com

Facsimile:
646 878 0801

Attn: Mark
Cohen

 

	23.	Relationship of the Parties

 

	 	23.1.	The relationship between the Parties is and
    shall be that of independent contractors, and does not and shall not constitute a partnership, joint venture, agency or fiduciary
    relationship. Neither Party shall have the authority to make any statements, representations or commitments of any kind, or
    take any actions, which are binding on the other Party, except with the prior written consent of the other Party to do so.
    All persons employed by a Party will be the employees of such Party and not of the other Party and all costs and obligations
    incurred by reason of any such employment shall be for the account and expense of such Party.

 

	24.	Counterparts and Due Execution

 

	 	24.1.	This Agreement and any amendment may be executed
    in two (2) or more counterparts (including by way of facsimile or electronic transmission), each of which shall be deemed
    an original, but all of which together shall constitute one and the same instrument, notwithstanding any electronic transmission,
    storage and printing of copies of this Agreement from computers or printers. When executed by the Parties, this Agreement
    shall constitute an original instrument, notwithstanding any electronic transmission, storage and printing of copies of this
    Agreement from computers or printers. For clarity, facsimile signatures and signatures transmitted via PDF shall be treated
    as original signatures.

 

	25.	Construction

 

	 	25.1.	Except
    where the context otherwise requires, wherever used, the singular will include the plural, the plural the singular, the use
    of any gender will be applicable to all genders, and the word “or” is used in the inclusive sense (and/or). Whenever
    this Agreement refers to a number of days, unless otherwise specified, such number refers to calendar days. The captions of
    this Agreement are for convenience of reference only and in no way define, describe, extend or limit the scope or intent of
    this Agreement or the intent of any provision contained in this Agreement. The term “including” as used herein
    shall be deemed to be followed by the phrase “without limitation” or like expression. The term “will”
    as used herein means shall. References to “Article,” “Section” or “Appendix” are references
    to the numbered sections of this Agreement and the appendices attached to this Agreement, unless expressly stated otherwise.
    Except where the context otherwise requires, references to this “Agreement” shall include the appendices attached
    to this Agreement. The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no
    rule of strict construction will be applied against either Party hereto.

 

[Remainder
of page intentionally left blank.]

 

    	25

    	 	 	 

    

 

Confidential

 

IN
WITNESS WHEREOF, the respective representatives of the Parties have executed this Agreement as of the Effective Date.

 

Incyte
Corporation

 

	By:	February 10, 2015	 

 

	/s/ Barry Flannelly	 
	Barry Flannelly	 
	 	 
	 	 
	Executive
Vice President, Business Development and Strategic Planning

 

Advaxis,
Inc.

 

	By:	February 10, 2015	 

 

	/s/
    Gregory T. Mayes	 
	Gregory T. Mayes	 
	 	 
	 	 
	Executive Vice President, Chief Operating Officer 	 

 

    	26

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