Document:

EX-10.10

 Exhibit 10.10 

BIONOMICS LIMITED 
 ACN
075 582 740 
 EMPLOYEE EQUITY PLAN 

PLAN RULES 
 Adopted:
November 2017 
 As Amended 31 October 2021 

Version: 2.0 

  
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 BIONOMICS LIMITED 

EMPLOYEE EQUITY PLAN 

PLAN RULES 
  

	1	 Purpose 

The name of the employee equity plan established by these terms is the “Bionomics Employee Equity Plan Rules” or such other name as the Board may
determine from time to time. 
 The objects of the Plan include: 
  

	(a)	 to align the interests of Eligible Employees with those of shareholders; 

 

	(b)	 to provide equity as incentives or other component of remuneration to attract, retain and/or motivate Eligible
Employees in the interests of the Company; and 

  

	(c)	 to provide Eligible Employees with the opportunity to acquire Rights, and ultimately Shares, in accordance with
these Rules. 

 The purpose of the Plan is to enable the Board to issue Rights as part of the Company’s remuneration arrangements.

 The Plan is subject to subdivision 83A-C of the Income Tax Assessment Act 1997 to the extent an offer is made to
an Eligible Employee with terms and conditions that meet the requirements of that subdivision. 
  

	2	 Definitions and Interpretation 

 

	2.1	 Definitions 

In this Plan: 
 ASIC means
the Australian Securities and Investments Commission. 
 ASX means ASX Limited ACN 008 624 691, or the securities exchange that it
operates, as the context requires.  
 ASX Listing Rules means the official listing rules of ASX. 

Board means the directors of the Company or a committee of the Board or a delegate appointed by the Board or a committee for the
purposes of the Plan. 
 Certificate means the certificate issued by the Company in respect of a Right held by a Participant. 

Company means Bionomics Limited ACN 075 852 740. 

Conditions mean one or more conditions contingent on performance, service, or time elapsed since grant that must be satisfied before a
Right vests, as determined by the Board. 
 Corporations Act means the Corporations Act 2001 (Cth) 

Disposal Restriction means such restriction on disposal or dealing in a Share to be delivered upon the exercise of a Right, as
determined by the Board in its discretion and notified to a Participant at the time of the grant or offer of the Right. 

  
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 Eligible Employee means an employee of the Group or a
non-executive director of the Group or another person determined by the Board as eligible to participate in the Plan, provided that any such employee, director or other person is eligible to be offered
securities registrable on Form S-8 of the US Securities Act of 1933, as amended.1 

Exercise Notice means a notice in the form specified by the Board for the purposes of rule 6 from time to time. 

Exercise Period means the period between the time a Right vests/becomes exercisable and the time at which that Right expires/lapses, as
specified in the relevant offer. 
 Exercise Price means the price payable in cash to exercise a Right, being such price determined by
the directors in their absolute discretion and set out in the terms of the relevant offer, provided that, under no circumstances shall the Exercise Price of any Right granted to a US Eligible Employee be less than the fair market value as of the
date of grant of such Right as determined taking into account, and in compliance with, the requirements of Section 409A of the US Tax Code for purposes of determining “fair market value” as of such date. 

Expiry Date means the date a Right lapses and can no longer be exercised, as specified in the terms of the relevant offer, provided
that, under no circumstances shall the Expiry Date of any Right granted to a US Eligible Employee be beyond the tenth of anniversary of such Right’s date of grant. 

Group means the Company, any Subsidiary and any other entity declared by the Board to be a member of the group for the purposes
of the Plan (provided that any other entity must also constitute a “subsidiary”, as such term is defined in Rule 405 of the Securities Act of 1933, of the Company) and Group Company means any one of them. 

Market Price means an amount equal to the volume weighted average price of Shares traded on the ASX over the 5 trading days immediately
preceding the relevant date. 
  

	1	 For clarity, non-US persons can be offered securities which are
registerable on Form S-8.

  

	(1)	 For the purposes of Form S-8, the term “employee” is defined
as any employee, director, general partner, trustee (where the registrant is a business trust), officer, or consultant or advisor. Form S-8 is available for the issuance of securities to consultants or
advisors only if: 

  

	 	(i)	 they are natural persons; 

 

	 	(ii)	 They provide bona fide services to the registrant; and 

 

	 	(iii)	 the services are not in connection with the offeror sale of securities in a capital-raising transaction, and do
not directly or indirectly promote or maintain a market for the registrant’s securities. 

 (2) In addition, the term
“employee” includes insurance agents who are exclusive agents of the registrant, its subsidiaries or parents, or derive more than 50% of their annual income from those entities. 

(3) The term “employee” also includes former employees as well as executors, administrators or beneficiaries of the estates of deceased employees,
guardians or members of a committee for incompetent former employees, or similar persons duly authorized by law to administer the estate or assets of former employees. The inclusion of all individuals described in the preceding sentence in the term
“employee” is only to permit registration on Form S-8 of: 
 (i) the exercise of employee
benefit plan stock options and the subsequent sale of the securities, if these exercises and sales are permitted under the terms of the plan; and 

(ii) the acquisition of registrant securities pursuant to intra-plan transfers among plan funds, if these transfers are permitted under the
terms of the plan. 

  
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 Option means, subject to the Conditions determined by the Board, a Right to receive a
Share and any further amounts specified in the offer following payment of any required Exercise Price specified in the offer. 

Participant means an Eligible Employee who is granted a Right under the Plan. 

Performance Period means the period or periods over which Conditions are measured as specified by the Board. 

Plan means the Bionomics Limited Employee Equity Plan, as constituted by these Rules. 

Qualifying Reason means: 
  

	 	(a)	 the death, total and permanent disablement, retirement from the workforce or redundancy of the Participant as
determined by the Board in its absolute discretion; or 

  

	 	(b)	 any other reason with the approval of the Board. 

Right means a right to a Share and such additional Shares (including a fraction of a Share) that may be specified in the relevant offer
and that is subject to the Conditions determined by the Board, calculated on the basis set out in the terms of an offer, which may include a formula for calculating the relevant number of Shares. For the avoidance of doubt, an Option is a Right for
the purpose of these Rules. 
 Rules mean these rules of the Plan, as amended from time to time. 

Share means a fully paid ordinary share in the capital of the Company. 

Subsidiary has the meaning given to it in section 9 of the Corporations Act (provided that a Subsidiary must also constitute a
“subsidiary”, as such term is defined in Rule 405 of the Securities Act of 1933, of the Company). 
 Takeover Bid has the
meaning given in section 9 of the Corporations Act. 
 Total and Permanent Disablement means disablement of a person where in the
opinion of the Board the person is unlikely to ever be able to be engaged in an occupation for which he or she is qualified by education and training. 

Trust means any trust established by the Company for the sole purpose of subscribing for or acquiring and delivering, allocating and
holding Shares in the Company for the benefit of the Participants and participants in other employee equity plans established by any member of the Group from time to time. 

Trust Deed means any trust deed entered into between the Company and the Trustee. 

Trustee means any trustee appointed by the Company for the purposes of theses Rules. 

US Eligible Employee means any Eligible Employee who is a citizen or resident of the United States of America. 

US Tax Code means the United States Internal Revenue Code of 1986, as amended, and Treas. Reg. issued thereunder. 

Withdrawal Notice means a written notice given by a Participant to the Trustee and the Company requesting that some or all of the
Participant’s Shares held by the Trustee on behalf of the Participant be sold or transferred to the Participant or as that Participant directs, which notice must: 
  

	 	(i)	 be signed by the relevant Participant; 

 

	 	(ii)	 specify the number of Shares to be sold or transferred; and 

  
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 be in a form approved by the Board. 

 

	2.2	 Interpretation 

In these Rules: 
  

	 	(a)	 headings and type in bold are for convenience only and do not affect the interpretation of these Rules and,
unless the context requires otherwise; 

  

	 	(b)	 words importing the singular include the plural and vice versa; 

 

	 	(c)	 words importing a gender include any gender; 

 

	 	(d)	 the word ‘includes’ in any form is not a word of limitation; 

 

	 	(e)	 other parts of speech and grammatical forms of a word or phrase defined in these Rules have a corresponding
meaning; and 

  

	 	(f)	 any reference in the Plan to any enactment or the ASX Listing Rules is a reference to that enactment or those
ASX Listing Rules (and to all regulations or instruments issued under them) in force at the time that a grant or offer is made under the Plan unless expressed to the contrary in the Rules, or determined otherwise by the Board pursuant to rule 13.3,
or required at law. 

  

	3	 Commencement of Plan 

The Plan will commence on the date determined by the Board. 
  

	4	 Grant of Rights 

 

	4.1	 Board to make grant 

 

	 	(a)	 The Board may, from time to time, in its discretion make offers to Eligible Employees for a grant of Rights
upon the terms of the Plan and such additional terms and conditions (including any Conditions, Disposal Restrictions or terms of expiry) as the Board determines.

 

  

	 	(b)	 The Board will determine the procedure for the offering and granting of Rights, including the form and content
of any offer, grant or acceptance procedure. 

  

	 	(c)	 Notwithstanding rule 4.1(a) the Board may decide to reject an acceptance of an offer for Rights where an
Eligible Employee does not satisfy any relevant Conditions determined by the Board at the time of receipt of an Acceptance Form for a grant of Rights. 

  

	 	(d)	 Unless the Board determines otherwise, no payment is required for the grant of Rights. 

 

	 	(e)	 Rights may be granted to an Eligible Employee by a Group Company as an element of pre-tax remuneration of that Eligible Employee not subject to Conditions. 

  

	 	(f)	 Unless the Board determines otherwise, no offer for a grant of Rights may be made if the offer or grant does
not comply with ASIC Class Order 14/1000, any subsequent or replacement class order or other relief in respect of employee incentive schemes or any specific relief granted by ASIC to the Company in respect of the Plan.

 

  

	4.2	 Acceptance of offer 

 

	 	(a)	 An Eligible Employee who accepts an offer for a grant of Rights is deemed to have agreed to be bound by these
Rules, any additional terms specified in the terms of offer and, upon allocation of a Share, to have agreed to become a member of the Company and to be bound by the constitution of the Company. 

  
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	 	(b)	 If an offer is issued to an Eligible Employee pursuant to rule 4.1(a), the Board will, upon acceptance of the
offer, grant Rights as specified in that offer to that Eligible Employee and provide the Eligible Employee with a Certificate for those Rights. 

  

	4.3	 Information to be provided 

The Board will advise each Eligible Employee of the following minimum information in respect of the Rights at the time of making the offer
pursuant to rule 4.1(a): 
  

	 	(a)	 the number or maximum value of Rights that are the subject of the offer, or the method for determining the
number or maximum value; 

  

	 	(b)	 any applicable Conditions; 

 

	 	(c)	 the time or times at which Rights may vest and/or become exercisable; 

 

	 	(d)	 any amount that will be payable upon exercise of a Right, if any, or the method for calculating that amount;

  

	 	(e)	 the period or periods during which Rights may be exercised and the procedure for exercising the Rights;

  

	 	(f)	 the date, time and/or circumstances when Rights lapse; and 

 

	 	(g)	 any other relevant terms and conditions attaching to Rights or Shares held under the Plan, including any
Disposal Restrictions. 

 An offer may contain any other information that the Board sees fit to include. 

 

	4.4	 Title to Rights 

 

	 	(a)	 Unless the Board determines otherwise, Rights may only be registered in the name of a Participant.

  

	 	(b)	 A Participant may at any time exercise a vested Right in accordance with rule 5.3 but is prohibited from
disposing of a Right other than in accordance with rule 4.4(c) unless the Board determines otherwise. 

  

	 	(c)	 A Right granted under, and subject to, these Rules is only transferable by force of law unless the Board
determines otherwise. 

  

	 	(d)	 Where a Participant purports to transfer a Right other than in accordance with rule 4.4(d), the Right
immediately lapses unless the Board determines otherwise. 

  

	4.5	 Prohibition against hedging 

 

	 	(a)	 A Participant must not enter into any scheme, arrangement or agreement (including options and derivative
products) under which the Participant may alter the economic benefit to be derived from a Right that remains subject to these Rules, irrespective of future changes in the market price of Shares. 

 

	 	(b)	 Unless the Board determines otherwise, Rights must not be used as security in respect o any borrowing
arrangement entered into by a Participant. 

  

	 	(c)	 Where a Participant enters, or purports to enter, into any scheme, arrangement or agreement described in rule
4.5(a) or borrowing arrangement described in rule 4.5(b), the Right will immediately lapse. 

  
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	5	 Vesting, exercise and lapse of Rights 

 

	5.1	 Vesting of Rights 

 

	 	(a)	 Subject to rules 5.1(b) (Board discretion), 8 (cessation of employment), 9 (fraud or dishonesty), 10
(reorganisations and divestment), 11 (change of control) and 13.3 (Board powers), a Right granted under the Plan will not vest unless the Conditions relating to that Right advised to the Participant pursuant to rule 4.3 have been satisfied or waived
by the Board. 

  

	 	(b)	 The Board must advise a Participant when any Condition relating to a Right granted to the Participant is
satisfied or waived by the Board in its discretion. 

  

	 	(c)	 The Board may, in its discretion, determine that a Right vests prior to the date specified by the Board for the
purposes of rule 4.3. 

  

	 	(d)	 Granting a Right does not confer any right or interest, whether legal or equitable, in Shares until all
Conditions in respect of that Right have been satisfied or waived by the Board in its absolute discretion and the Right has been exercised in accordance with rules 5.3, 5.4 and 6 

 

	 	(e)	 The Board’s decision as to the satisfaction, achievement or waiver of any Condition may be made in the
Board’s absolute discretion and a determination as to the interpretation, effect, application, achievement, satisfaction or waiver of a Condition is final, conclusive and binding on the Participant. The Board will only exercise its discretion
to waive (in whole or in part) any Condition for a Qualifying Reason. 

  

	5.2	 Lapse of Rights 

Subject to the Board’s overriding discretion, an unvested Right of a Participant will lapse upon the earliest to occur of: 

 

	 	(a)	 the date specified by the Board for the purposes of rule 4.3; 

 

	 	(b)	 an event described in rules 4.4 (title), 9 (fraud or dishonesty), 10 (reorganisations and divestments) or 11
(change of control); 

  

	 	(c)	 failure to meet the Conditions; and 

 

	 	(d)	 the fifeteenth anniversary of the date the Right was granted, other than for US Eligible Employees, which will
be the tenth anniversary of the date the Right was granted 

  

	5.3	 Exercise of vested Rights 

 

	 	(a)	 Rights that have vested and that have not expired or lapsed under rule 5.2 may be exercised by a Participant at
any time and in any period notified to the Participant by the Board under rule 4.3 and in the manner specified in the relevant offer. 

  

	 	(b)	 The Board may determine whether the Company will, upon exercise of vested Rights: 

 

	 	(i)	 issue or procure the transfer to: 

 

	 	(A)	 the Participant (or his or her personal representative); or 

 

	 	(B)	 a trustee who is to hold Shares on behalf of the Participant, 

the number of Shares (including fractions of a Share) to which the Participant is entitled in respect of each Right as outlined in the terms
of offer pursuant to rule 4.1(a), which may include a formula for calculating the relevant number of Shares (Equity Settled); or 
  

	 	(ii)	 pay a cash amount equivalent to the Market Price of a Share at the exercise date multiplied by the number of
Shares contemplated under rule 5.3(b)(i) less the amount of Exercise Price, if applicable, in full satisfaction of the Shares that would otherwise have been allocated on exercise of the Right (Cash Settled); or 

  
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	 	(iii)	 issue, procure the transfer or pay a combination of (i) and (ii) above. 

 

	 	(c)	 Where Rights are Equity Settled, the parties may agree that the Company will sell on behalf of the Participant
the required number of Shares in order to provide the funds required to fund the payment of any applicable tax or other amounts required by law to be withheld. 

 

	5.4	 Method of exercising vested Rights 

 

	 	(a)	 A Participant may exercise a vested Right at any time up to and including the Expiry Date by delivering a
properly executed Exercise Notice to the Company and paying the Exercise Price if any as specified in the relevant offer. 

  

	 	(b)	 Subject to rule 5.3, the Company must ensure that Shares will be transferred or issued and allocated to a
Participant within fifteen (15) business days after the Participant submits a properly executed Exercise Notice to the Company. 

  

	6	 Exercise Notice 

 

	 	(a)	 An Exercise Notice must: 

 

	 	(i)	 specify the number and type of Rights being exercised; 

 

	 	(ii)	 be accompanied by payment of the Exercise Price if any specified in the offer (by such means and in such manner
as approved by the Board); and 

  

	 	(iii)	 be accompanied by the Certificate. 

 

	 	(b)	 The giving of an Exercise Notice for part only of the number of Rights held by a Participant from time to time
does not prevent the Participant from exercising all or part of the balance of such Rights at any time thereafter during the term of those Rights, subject to rule 5.4 as applicable. 

 

	 	(c)	 If a Participant exercises fewer than the total number of Rights referred to in the Certificate for those
Rights then that Participant: 

  

	 	(i)	 must surrender the Certificate to the Company; and 

 

	 	(ii)	 the Company will cancel that Certificate and re-issue a Certificate to
the Participant for the unexercised balance of the Rights. 

  

	 	(d)	 The Company or the Trustee must provide the Participant with a Share certificate for all Shares held by or on
behFcoalf of the Participant under the Plan. 

  

	 	(e)	 Where Shares are to be held by a Trustee, subject to the Trustee receiving from the Company sufficient funds to
subscribe for or acquire the Shares, the Board may, in its absolute discretion, instruct the Trustee to either subscribe for new Shares or acquire Shares on the market, to be held on a Participant’s behalf. 

 

	7	 Allocation of Shares 

 

	7.1	 Ranking of Shares 

All Shares issued under the Plan will rank equally in all respects with other Shares for the time being on issue, except with regard to any
rights attaching to such other Shares by reference to a record date prior to the date of allocation of those Shares. 

  
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	7.2	 Listing on ASX 

The Company will apply for quotation of Shares issued under the Plan within the period required by ASX. 

 

	7.3	 Dividends and voting rights on Shares held by a Trustee 

Where Shares allocated on exercise of Rights are held by a Trustee on behalf of the Participant: 

 

	 	(a)	 the dividends payable on those Shares will be paid by the Company to the Trustee, and the Trustee will pay any
such dividends to the Participant as soon as reasonably practicable after those dividends are paid by the Company to the Trustee; 

  

	 	(b)	 in relation to resolutions upon which the Participant is entitled to vote, the Participant may direct the
Trustee by notice in writing as to how to exercise the voting rights attaching to those Shares held on the Participant’s behalf by the Trustee, either generally or in respect of a particular resolution, by way of proxy. In the absence of any
such direction, the Trustee must not exercise the voting rights attaching to the Shares held on behalf of the Participant by the Trustee. The Trustee must not vote in respect of any Shares it holds on behalf of a Participant if the vote occurs by
show of hands; and 

  

	 	(c)	 the Company must, or by direction of the Board the Trustee must, forward to a Participant a copy of any notices
of meetings of members of the Company received by the Trustee, unless the Participant has notified the Trustee in writing that the Participant does not wish to receive such notices. 

 

	7.4	 Disposal Restrictions 

 

	 	(a)	 The Board may, in its discretion, impose any Disposal Restrictions in respect of Shares issued or transferred
on the exercise of Rights. 

  

	 	(b)	 The Board must provide a Participant with details of any such requirements or restrictions at the time of offer
pursuant to rule 4.3. 

  

	 	(c)	 The Board may implement any procedure it considers appropriate to restrict a Participant from trading in Shares
while they remain subject to these Rules including, without limitation, imposing a holding lock (as defined in the ASX Listing Rules) on the Shares or arranging for the Shares to be held on trust. 

 

	8	 Cessation of employment 

 

	8.1	 Unvested Rights 

 

	 	(a)	 Where a Participant holding an unvested Right ceases to be an employee of the Group, that Right immediately
lapses unless the terms of the offer pursuant to rule 4.1(a) prescribe a treatment other than the immediate lapse of unvested Rights. For the avoidance of doubt, the terms of the offer will prevail over this rule 8.1(a). 

 

	 	(b)	 Notwithstanding rule 8.1(a), where a Participant holding an unvested Right ceases to be an employee of the
Group due to a Qualifying Reason, the Board may, in its discretion, determine the treatment of that unvested Right. 

  

	 	(c)	 The Board will give written notice to the Participant of the number of Rights that vest or may vest pursuant to
rule 8.1(b). 

  
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	8.2	 Forfeiture of Shares allocated on exercise of Rights 

The Board may, at its discretion, determine that a Participant will forfeit his or her interest in any Shares that are allocated to the
Participant on exercise of Rights that are subject to Disposal Restrictions if, during the Disposal Restriction period: 
  

	 	(a)	 the Participant resigns as an Employee of the Group; 

 

	 	(b)	 the Participant is dismissed as an Employee by a Group Company for cause; or 

 

	 	(c)	 the Participant’s employment with the Group is terminated in circumstances that, in the opinion of the
Board, involve a failure by the Participant to meet acceptable performance requirements in connection with his or her employment. 

  

	8.3	 When employment ceases 

For the purposes of this Plan, a Participant will only be treated as ceasing employment when the Participant is no longer an employee or a
director within the Group. 
  

	9	 Fraud, dishonesty or material misstatement 

 

	9.1	 Action of Participant 

Where, in the opinion of the Board, a Participant or former Participant: 

 

	 	(a)	 acts fraudulently or dishonestly; or 

 

	 	(b)	 is in breach of his or her obligations to the Group; or 

 

	 	(c)	 is knowingly involved in a material misstatement of financial statements; 

then the Board may determine that: 
  

	 	(d)	 the Conditions and/or Performance Period applying to Rights should be altered or reset (as the case may be);

  

	 	(e)	 all or any Rights of the Participant that have not vested shall lapse; 

 

	 	(f)	 all or any Rights of the Participant that have vested but not been exercised are forfeited;

  

	 	(g)	 all or any Shares held by the Participant following exercise of Rights are forfeited; 

 

	 	(h)	 where Rights have been Cash Settled, the cash amount paid to the Participant must be repaid to the Company;
and/or 

  

	 	(i)	 where Shares that have been allocated to the Participant following exercise of Rights have been sold, that the
Participant must repay all or part of the net proceeds of such a sale to the Company. 

  

	9.2	 Actions of others 

Where, in the opinion of the Board, a Right vests, or may vest, to a Participant as a result of the fraud, dishonesty, breach of obligations or
knowing material misstatement of financial statements by an employee of the Group other than the Participant and, in the opinion of the Board, the Right would not otherwise have vested, the Board may determine that the Right has not vested and may,
subject to applicable laws, determine any treatment in relation to the Right (including resetting Conditions, deeming Shares to be forfeited and/or new Rights be granted subject to substitute Conditions) to ensure that no unfair benefit is obtained
by the Participant as a result of the actions of another person. 

  
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	10	 Participation in future issues, reorganisations and business divestments 

 

	10.1	 Participation generally 

A Participant cannot participate in new issues of Shares or other securities to holders of Shares unless the Shares in respect of the Rights
held by the Participant have been issued or transferred, as the case requires, to and registered in the name of the Participant before the record date for determining entitlements to the new issue. 

 

	10.2	 Bonus issue, rights issue and capital reorganisations 

If: 
  

	 	(a)	 Shares are issued pro rata to shareholders generally by way of a bonus issue; 

 

	 	(b)	 Shares are offered to Shareholders by way of a pro rata rights issue; or 

 

	 	(c)	 any reorganisation (including a consolidation, subdivision, reduction or return) of the issued capital of the
Company is effected, 

 and a Participant holds Rights at the record date for determining entitlements to the new issue or
when the reorganization is effected (as applicable) then: 
  

	 	(d)	 the number of Shares to be delivered to each Participant in respect of each Right (or other terms and
conditions applicable to the Rights, including any amount payable for the Shares) will be adjusted or reorganised: 

  

	 	(i)	 in accordance with the requirements of the ASX Listing Rules, the Corporations Act and any other applicable
law; and 

  

	 	(ii)	 subject to rule 10.2(d)(i), in the manner determined by the Board in order to minimize or eliminate any
material advantage or disadvantage to the Participant. 

  

	10.3	 Divestment of material business or subsidiary 

 

	 	(a)	 Where the Group divests a business or Subsidiary designated by the Board for the purposes of this rule 10.3 as
‘material’, the Board may determine special rules that apply to Participants in that business in relation to the Rights or Shares held pursuant to the Plan (and any other entitlements that may arise in relation to those Shares). Without
limiting the Board’s discretion, such rules may include: 

  

	 	(i)	 varying the Conditions and/or Performance Period applying to the Participant’s Rights to take into account
the divestment of the business or Subsidiary; and 

  

	 	(ii)	 deeming that the Participant remains a Group employee for a specified period. 

 

	 	(b)	 In order to bind a Participant, any special rules made under this rule 10.3 must be notified to the Participant
in accordance with rule 13.5. 

  

	11	 Change of control 

 

	11.1	 Takeover bid or scheme of arrangement 

 

	 	(a)	 If an Event as described in rule 11.1(d) occurs before Participants’ Rights have vested then the Board
may, in its absolute discretion, determine whether: 

  

	 	(i)	 some or all unvested Rights will vest or will lapse (whether subject to Conditions or not); or

  

	 	(ii)	 some or all of the unvested Rights will remain subject to the applicable Conditions (or substitute Conditions),

  
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 having regard for any matter the Board considers relevant, including, without limitation,
the circumstances of the Event, the extent to which the applicable Conditions have been satisfied and/or the proportion of the Performance Period that has elapsed at that time and without limiting the extent to which the Board can exercise its
discretion the Board may determine that the number of Rights eligible to vest will be prorated according to the portion of the Performance Period completed to the date of the Event and this prorated number of Rights will vest according to the extent
to which the applicable Conditions are satisfied to that date. 
  

	 	(b)	 If an Event occurs after Rights are exercised, all Shares issued or transferred (as applicable) on exercise of
the Rights that remain subject to Disposal Restrictions under the Plan will be released from such Disposal Restrictions. 

  

	 	(c)	 If an Event as described in rule 11.1(d) occurs after Participants’ Rights have vested and before the
Rights have been exercised then the Board may, in its absolute discretion, determine whether: 

  

	 	(i)	 all unexercised Rights will be exercised and Equity Settled; or 

 

	 	(ii)	 all unexercised Rights will be exercised and Cash Settled; or 

 

	 	(iii)	 all unexercised Rights with a Market Price less than the Exercise Price will lapse. 

 

	 	(d)	 An Event occurs where: 

 

	 	(i)	 in the case of a Takeover Bid, a person who previously had voting power in the Company of less than 50% obtains
voting power of more than 50%; or 

  

	 	(ii)	 a Takeover Bid is made for the Company and the bid is declared unconditional at a time prior to the bidder
being entitled to 50% of the issued Shares; or 

  

	 	(iii)	 a court convenes a meeting of Shareholders to be held to vote on a proposed scheme of arrangement pursuant to
which control of the majority of Shares may change; or 

  

	 	(iv)	 any transaction or event is proposed that, in the opinion of the Board, may result in a person becoming
entitled to exercise control over the Company. 

  

	11.2	 Acquisition of securities in another company 

If a company (the Acquiring Company) obtains control of the Company and each of the Company, the Acquiring Company and the Participant
agree, then a Participant may be provided with securities in the Acquiring Company (or its parent or subsidiary) in substitution for Rights, on substantially the same terms and conditions as the Rights, but with appropriate adjustments to the number
and kind of securities the subject of the Rights. 
  

	11.3	 Notification of vesting 

The Board will give written notice to the Participant of the extent to which Rights vest pursuant to this rule 11. 

 

	12	 Trustee 

  

	12.1	 Trustee may take advice 

The Board and the Trustee may take and rely upon independent professional or expert advice in relation to the exercise of any of their powers
under these Rules or the Trust Deed. 
  

	12.2	 Completion and return of documents 

The Trustee and the Company may each require a Participant to complete and return such other documents, as may be required by any applicable
law to be completed by the Participant or which 

  
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the Trustee or the Company considers should, for legal or taxation reasons, be completed by the Participant. 
  

	12.3	 Agreements with the Trustee 

The Board may determine and conclude agreements with the Trustee, and enforce or prosecute any rights and obligations under such agreements,
without reference or recourse to the Participants under this Plan. Subject to the terms of the Trust Deed and without limiting the Company’s rights in this regard, the Company may, pursuant to and in accordance with any such agreements: 

 

	 	(a)	 provide funds to the Trustee in order to allow the Trustee to subscribe for and/or acquire Shares to be held on
behalf of Participants under this Plan; 

  

	 	(b)	 pay the Trustee for services provided in connection with this Plan and the Trust; 

 

	 	(c)	 remove the Trustee and appoint a new trustee (and make any necessary arrangements or provisions for the
transfer of Shares held by the Trustee for Participants to a new trustee); and 

  

	 	(d)	 otherwise exercise any rights, responsibilities or powers afforded to it under the Trust Deed.

  

	12.4	 Costs of the Trust 

The Board may determine the manner in which any costs associated with the Trust and the costs incurred in the course of the performance by the
Trustee of its role and duties under this Plan and the Trust Deed are to be borne except that such costs will not be passed on to the Participant. 
  

	12.5	 Trustee must administer the Trust 

The Trustee must administer the Trust and hold Shares under the Plan in accordance with this Plan, the Trust Deed and any procedures determined
by the Company and as agreed to between the Board and the Trustee. 
  

	12.6	 Trustee may acquire Shares 

The Trustee may in accordance with the instructions received from the Company acquire Shares on market in advance of exercise of a Right and
hold such Shares pending such exercise. 
  

	12.7	 Registration of Shares 

Unless the Board determines otherwise, where Shares are held by the Trustee on behalf of a Participant, those Shares will be registered in the
name of the Trustee. 
  

	13	 Administration of Plan 

 

	13.1	 Compliance with laws 

An offer may only be made in compliance with the Constitution, the ASX Listing Rules, the Corporations Act and any other applicable law. 

 

	13.2	 Amendment of the Rules 

 

	 	(a)	 The Board may at any time, amend, add to, vary, omit from or substitute any of these Rules, provided that any
such amendment may not, without the written agreement of a Participant, materially reduce or otherwise prejudicially affect the rights attaching to the Rights granted or the Shares issued or transferred (as applicable) pursuant to, and still subject
to, the Plan, other than an amendment introduced primarily: 

  

	 	(i)	 for the purpose of complying with or conforming to present or future State, Commonwealth or relevant foreign
jurisdiction legislation, the ASX Listing Rules or any requirement, policy or practice of ASIC or other foreign or Australian regulatory body; 

  
 Bionomics Limited Employee Equity Planv
2.0 

	 	(ii)	 for the purpose of regulating the maintenance or operation of the Plan; 

 

	 	(iii)	 to correct any manifest error or mistake; or 

 

	 	(iv)	 to take into consideration possible adverse tax implications for the Company or the Participant arising from,
among other things, adverse rulings from the Commissioner of Taxation, changes to tax legislation (including an official announcement by the Commonwealth of Australia) and/or changes in the interpretation of tax legislation by a court or tribunal of
competent jurisdiction. 

  

	 	(b)	 Any amendment made under this rule 13.2 must be notified as soon as reasonably practicable to any affected
Participant in accordance with rule 13.5. 

  

	13.3	 Board powers 

The Board has absolute and unfettered discretion in exercising any power or discretion concerning the Plan and may: 

 

	 	(a)	 delegate to any person for the period and on the terms it decides, the exercise of any of its powers or
discretions under the Plan; 

  

	 	(b)	 determine appropriate procedures for administering the Plan consistent with these Rules, including the
application forms and any other forms and notices to be issued under the Plan; 

  

	 	(c)	 resolve conclusively all questions of fact or interpretation concerning these Rules and any dispute of any kind
that arises under the Plan; 

  

	 	(d)	 waive any provision of the Plan, or any term or condition (including a Condition or other restriction) relating
to Rights or Shares; 

  

	 	(e)	 determine to suspend or cease operation of the Plan at any time and take any actions required to effect the
winding up of the Plan; 

  

	 	(f)	 act or refrain from acting at its discretion under these Rules or in relation to Rights or Shares held under
the Plan; and 

  

	 	(g)	 waive any breach of a provision of the Plan. 

Notwithstanding the foregoing Board powers, under no circumstances shall the Board take any action that would cause the
“modification”, as such term is defined under Section 409A of the Code and regulations promulgated thereunder, of any Right granted to a US Eligible Employee. 
  

	13.4	 Costs 

  

	 	(a)	 The Company will pay all costs and expenses in relation to the establishment and operation of the Plan.

  

	 	(b)	 The Group may make any withholding or payment it is required by law to make in connection with Rights or
Shares. 

  

	 	(c)	 Any brokerage, commission, stamp duty or other transaction costs in connection with the disposal of a
Participant’s Shares acquired under the Plan will be paid for by the Participant. 

  

	13.5	 Notices 

  

	 	(a)	 A notice or other communication under or concerning the Plan is validly given: 

  
 Bionomics Limited Employee Equity Planv
2.0 

	 	(i)	 by the Company to an Eligible Employee or Participant (as the case may be), if delivered physically or
electronically to the addressee or sent by prepaid post to his or her last known residential address, or sent to him or her physically or by email at his or her place of work or posted on an internet or intranet site maintained by or for the Company
and accessible by the Eligible Employee or Participant; and 

  

	 	(ii)	 by an Eligible Employee or Participant (as the case may be) to the Company if delivered or sent by prepaid post
addressed to the company secretary at the Company’s registered office (unless the Board specifies another address for a particular purpose). 

  

	 	(b)	 A notice or other communication sent: 

 

	 	(i)	 to the Company must be actually received by the Company by the date or within the period specified in these
Rules or advised to the Participant pursuant to rule 4.3 in order to be effective; and 

  

	 	(ii)	 by the Company to an Eligible Employee or Participant (as the case may be) will be treated as being received
immediately following the time it was sent or, if it is sent by post, it will be treated as received two (2) business days after it was posted. 

  

	13.6	 Terms of engagement not affected 

 

	 	(a)	 The rights and obligations of an Eligible Employee under the terms of his or her office, employment or contract
with the Group are not affected by his or her participation in the Plan. 

  

	 	(b)	 Participation in the Plan will only be offered to an Eligible Employee at the discretion of the Board. There is
no guarantee of future offers being made under the Plan. Nothing in these Rules confers on an Eligible Employee the right to be granted Rights. 

  

	 	(c)	 These Rules do not form part of, and will not be incorporated into, any contract of an Eligible Employee.

  

	13.7	 Non-residents of Australia 

 

	 	(a)	 Notwithstanding any rule under the Plan, the Board may at any time, amend, add to, vary, omit from or
substitute any of these Rules to ensure compliance with the requirements of, or impact of, any law or regulation in any jurisdiction outside of Australia. 

  

	 	(b)	 This rule 13.7 applies in relation to any Participant who holds Rights or Shares under the Plan from time to
time and who is resident, or may become resident, in any jurisdiction outside of Australia. 

  

	 	(c)	 Any different rules that may apply must be notified to each affected Participant in writing.

  

	 	(d)	 For the purposes of clarification, any different rules that are adopted under rule 13.7(a) may have an adverse
impact upon the Participant 

  

	 	(e)	 Rights to US Eligible Employees. The Company intends that all Rights granted to US Eligible Employees be
structured to comply with, or be exempt from, Section 409A of the US Tax Code, such that no adverse tax consequences, interest, or penalties under Section 409A of the US Tax Code apply, and the Plan and all Rights granted hereunder to US
Eligible Employees shall be interpreted and administered in a manner consistent with such intention. In the event any provision of the Plan or any Right granted to a US Eligible Employee would cause a Right granted to a US Eligible Employee to fail
to be exempt from, or to comply with, Section 409A of the US Tax Code, the Plan and/or such Right shall be amended to the extent necessary to ensure such Right is so exempt and/or compliant in a manner that no additional tax shall apply to the
US Eligible Employee with respect to such Right. Notwithstanding anything in the 

  
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2.0 

	 	
Plan or any Invitation to the contrary, the Board may, without an Eligible Employee’s consent, amend this Plan or Rights, adopt policies and procedures, or take any other actions (including
amendments, policies, procedures and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment of Rights, including any such actions intended to (A) exempt any Right from Section 409A of the US Tax Code,
or (B) comply with Section 409A of the US Tax Code, including regulations, guidance, compliance programs and other interpretative authority that may be issued after a Right’s date of grant. The Company makes no representations or
warranties as to a Right’s tax treatment under Section 409A of the US Tax Code or otherwise. The Company will have no obligation under this Plan or any Right to avoid the taxes, penalties or interest under Section 409A of the US Tax
Code with respect to any Right and will have no liability to any Eligible Employee or any other person if any Right, compensation or other benefits under the Plan are determined to constitute noncompliant “nonqualified deferred
compensation” subject to taxes, penalties or interest under Section 409A of the US Tax Code. 

  

	13.8	 Personal information 

The Participant consents to the Company or its agents (and each of their related parties) collecting, holding and using personal information
(including a Participant’s tax file number) that the Participant provides in the application to participate in the Plan or otherwise provides to the Company or its agents (and each of their related parties) as part of their employment, in order
to carry out the administration and operation of the Plan in accordance with the Plan Rules, including providing relevant information to: 
  

	 	(a)	 the Plan manager or another entity that manages or administers the Plan on behalf of the Company;

  

	 	(b)	 any broker or external service provider, including a tax or financial adviser; 

 

	 	(c)	 the trustee of any employee trust; 

 

	 	(d)	 any Government department or body; and 

 

	 	(e)	 any other person or body as required or authorised by law. 

 

	13.9	 No rights 

A Participant does not have any rights under this Plan to compensation or damages in consequence of the exercise by the Company of any right,
power or discretion that results in the Participant ceasing to have title to the Rights or Shares held under the Plan. 
  

	13.10	 Limitation on the Plan 

No Shares may be allocated to a Participant under this Plan if, immediately after the allocation of those Shares, the Participant: 

 

	 	(a)	 would hold a legal or beneficial interest in more than 10% of all other Shares for the time being on issue; or

  

	 	(b)	 would be in a position to cast, or control the casting of, more than 10% of the maximum number of votes that
might be cast at a general meeting of the Company. 

  

	13.11	 Maximum number of Shares 

Unless the Board determines otherwise, no offer may be offered under this Plan if the offer does not comply with ASIC Class Order
14/1000, or any subsequent or replacement ASIC class order in respect of new issues of securities under employee incentive schemes, which provides that, amongst other things, the Company must, at the time of making the offer, have reasonable grounds
to believe that the number of Shares that have been or may be issued under the offer, when aggregated with offers made under this Class Order, or an ASIC exempt arrangement of a similar kind to an employee incentive scheme, in the previous
three year period, will not exceed 5% of the issued capital of the Company. 

  
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	13.12	 Rounding 

Where any calculation or adjustment to be made pursuant to this Plan produces a fraction of a cent, Right or Share, the fraction will be
disregarded by rounding down to the nearest whole cent or whole number of Rights or Shares (as applicable). 
  

	13.13	 ASIC relief 

Notwithstanding any other provision of this Plan, every covenant or other provision set out in an exemption or modification granted from time
to time by ASIC in respect of the Plan pursuant to its power to exempt and modify the Corporations Act and required to be included in the Plan in order for that exemption or modification to have effect, is deemed to be contained in the Plan. 

To the extent that any covenant or other provision deemed by this rule to be contained in the Plan is inconsistent with any other provision in
the Plan, the deemed covenant or other provision shall prevail. 
  

	13.14	 Governing Law 

The rules and conditions of this Plan are governed by the laws of South Australia and the Commonwealth of Australia. 

 

	14	 ADS Addendum 

  

	14.1	 Background 

At the date of adoption of this rule 14, the Company is considering an initial public offering (IPO) in the United States of America (US) and
listing on NASDAQ through an offering of American Depositary Shares (ADSs) representing Shares and wishes to be in a position to (i) settle existing Rights in ADSs, (ii) offer and grant Rights to Employees who may be located in the US or
other countries and (iii) offer and grant Rights in respect of ADSs. 
  

	14.2	 Additional provisions 

Notwithstanding any other provision of these Rules but subject to ADSs of the Company becoming listed on NASDAQ: 

 

	 	(a)	 the Company may offer and grant Rights to be settled in ADSs and all references to Shares in these Rules
(unless the context does not permit) will be taken to include references to ADSs; 

  

	 	(b)	 the Company may settle any Rights in existence at the date of adoption of this rule 14 by way of a number of
ADSs that represents the appropriate number of Shares, with the consent of the relevant Participant; 

  

	 	(c)	 for the avoidance of doubt, any monetary amounts may be determined or specified under or pursuant to these
Rules or any Invitation in US dollars or any other currency, including without limitation any Exercise Price; 

  

	 	(d)	 the Company may accept any payment in respect of the Plan or any Rights in US dollars any currency the Board
deems acceptable, with rate of conversion to be determined in a manner specified by the Board by reference to a published exchange rate; 

  
 Bionomics Limited Employee Equity Planv
2.0 

	 	(e)	 the Board may impose any Condition (as referred to in rule 4.3(b)) or other relevant terms and conditions (as
referred to in rule 4.3(g)) that may be necessary or desirable for the purpose of compliance with or qualification under any securities laws or taxation laws of the US or other jurisdictions (including applicable administrative or interpretative
rulings); and 

  

	 	(f)	 the Board may do all other things necessary or desirable in relation to the Plan or any Rights to enable the
offer and grant of Rights to be settled in ADSs, the settlement of any Rights in ADSs and to comply with the securities laws of the US or other jurisdictions or the listing requirements of NASDAQ. 

  
 Bionomics Limited Employee Equity Planv
2.0EX-10.11

 Exhibit 10.11 

BIONOMICS LIMITED 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made as of June 2021 by and between Bionomics Limited (ABN 53 075 582
740) (the “Company”), and Errol B. De Souza, an individual (“you”) (and, together, “Parties”). 

NOW THEREFORE, in consideration of your acceptance of employment, the Parties agree to be bound by the terms contained in this Agreement as
follows: 
 1.         Engagement. Effective July 1st, 2021 the “Effective Date”), the Company will employ you as Executive Chairman of the Company on the Company’s Board of Directors (the “Board”).
You will report directly to the Board. You will have the responsibilities, duties and authorities the Board specifies from time to time, which will generally be commensurate with those of chief executive officers of entities of similar size and
character to the Company. These responsibilities may include serving as an officer and director of subsidiaries of the Company. 
 2.
        Commitment. During and throughout the Employment Period (as defined in Section 3 below), you must devote substantially all of your full working time and attention to the Company and
you must not engage in any employment, occupation, consulting or other similar activity absent the Board’s prior written consent; provided, however, that you may (i) serve in any capacity with any professional, community,
industry, civic (including governmental boards), educational or charitable organization, (ii) serve on up to three for-profit entity public boards of directors and up to two advisory/private boards, with
the Board’s prior written consent, and (iii) subject to the Company’s conflict of interest policies, make investments in other businesses and manage your and your family’s personal investments and legal affairs; provided
that any such activities described in clauses (i)-(iii) above do not materially interfere with the performance of your duties for the Company and do not otherwise violate this Agreement. You will perform your services under this Agreement at such
place or places as you and the Board may agree. You understand and agree that your employment will require travel from time to time. The Company acknowledges that you currently serve on three for-profit entity
public boards of directors (excluding Bionomics) and more than two advisory/private boards, and hereby acknowledges that such service shall not be a breach of this Section 2 provided that (A) such services do not materially interfere with
the performance of your duties to the Company and do not otherwise violate this Agreement, and (B) you transition off one or more of such boards of directors and advisory boards such that as of January 1, 2022, you will not be serving on
more than three for-profit entity public boards of directors (excluding Bionomics) or more than two other advisory/private boards. 

3.         Employment Period. The Company hereby agrees to employ you and you
hereby accept employment with the Company upon the terms set forth in this Agreement, for the period commencing on the Effective Date and ending at the close of regular business hours on June 30, 2024 unless sooner terminated in accordance with
the provisions of Section 6 (such period, as it also may be extended, the “Employment Period”). On the expiration of the initial three-year term and on each yearly anniversary thereof, this Agreement shall automatically
renew for an 

 
additional one-year period unless sooner terminated in accordance with the provisions of Section 6 or unless either Party notifies the other Party in
writing of its intention not to renew this Agreement not less than 120 days prior to such expiration date or anniversary, as the case may be. 

4.         Cash and Incentive Compensation. 

(a)     Base Salary. During your employment hereunder, you will receive a base salary at a monthly rate of
USD $43,750, annualizing to USD $525,000 (as revised under this Agreement, the “Base Salary”). The Company will pay your Base Salary periodically in arrears not less frequently than monthly in accordance with the
Company’s regular payroll practices as in effect from time to time. The Board will review your Base Salary for increase (but not for decrease) no less frequently than annually. If increased, the increased Base Salary will become the Base Salary
for all purposes of this Agreement and will not thereafter be decreased without your written consent, which may be withheld for any reason or no reason. 

(b)     Incentive Bonus. Upon meeting the applicable performance criteria established by the Remuneration
Committee of the Board (the “Remuneration Committee”) in its sole discretion, you will be eligible to receive an annual incentive bonus (the “Annual Bonus”) for a given fiscal year of the Company
targeted at an amount equal to 60% of your Base Salary in effect at the Effective Date or, for subsequent years, at the beginning of such fiscal year (the “Target Bonus”). For performance exceeding such applicable performance
criteria in the sole judgment of the Remuneration Committee, the Annual Bonus may be increased up to 100% of your base salary. The Annual Bonus, if any, will be paid when other executives receive their bonuses under comparable arrangements but, in
any event, no later than 15 days following the year following the fiscal year with respect to which it is earned. The applicable performance criteria for each fiscal year of the Company shall be determined by the Remuneration Committee no later than
90 days after the commencement of that fiscal year. 
 (c)     Equity Awards. You will be eligible for
grants of options or other equity compensation at the discretion of the Remuneration Committee (with ratification by the Board). You will be entitled to a grant of 47,786,607 options, to be issued with an exercise price based on a volume weighted
average price for the 14 day period prior to the Effective Date, with vesting on a quarterly basis over a 4 year period commencing on the Effective Date, subject to you remaining a director of the Company at the time of each quarterly vesting date,
and subject to the acceleration provisions in Section 6(b)(iii) with automatic accelerated vesting in full in the event of a change in control of the Company (which shall be deemed to occur if any person acquires more than 50% of the voting
shares of the Company) and otherwise on terms agreed between you and the Company or failing agreement, determined by the Remuneration Committee (with ratification by the Board). The issue of options will be subject to shareholder approval in
accordance with the ASX Listing Rules and, if applicable, the Corporations Act, and otherwise subject to applicable law, the constitution of the Company and the ASX Listing Rules. The Remuneration Committee will consider further grants of equity
compensation from time to time during the Employment Period. 
 (d)     Parachute Provisions. Your
compensation under and beyond this Agreement is subject to Exhibit A hereto until the third anniversary of the Effective Date. 

  
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 5.         Employee Benefits.

 (a)     Employee Welfare and Retirement Plans. You will, to the extent eligible, be entitled to
participate at a level commensurate with your position in all employee welfare benefit and retirement plans and programs the Company provides to its executives in accordance with the terms thereof as in effect from time to time. For the avoidance of
doubt, this will include health benefits coverage to the value of USD $22,000 for the first year of employment and adjustments may be made based on additional documented increases in subsequent years. 

(b)     Business Expenses. Upon submission of appropriate documentation in accordance with Company policies,
the Company will promptly pay, or reimburse you for, all reasonable business expenses that you incur in performing your duties under this Agreement, including travel, entertainment, professional dues and subscriptions, as long as such expenses are
reimbursable under the Company’s policies. Any payments or expenses provided in this Section 5(b) will be paid in accordance with Section 7(c). 

(d)     Vacation. You will be entitled to annual leave equal to four weeks per annum (accrued ratably on a
monthly basis or otherwise in accordance with the standard written policies of the Company with regard to executives or applicable law), to be taken at such times as agreed with the Company. 

(e)     Other Leave. You may be entitled to other leave benefits as required under applicable law or the
written policies of the Company with regard to executives. 
 (f)     Attorneys Fees. The Company will pay
up to USD $12,000 for you to obtain legal services in connection with reviewing this Agreement for execution or for future modification of agreement or consultation thereof. The payment provided in this Section 5(e) will be paid in accordance
with Section 7(c). 
 6.         Termination of Employment. 

(a)     General. Subject in each case to the provisions of this Section 6 and the other provisions of
this Agreement relating to our respective rights and obligations upon termination of your employment, nothing in this Agreement interferes with or limits in any way the Company’s right to terminate your employment at any time, for any reason or
no reason, with or without notice, and nothing in this Agreement confers on you any right to continue in the Company’s employ. If your employment ceases for any or no reason, you (or your estate, as applicable) will be entitled to receive (in
addition to any compensation and benefits you are entitled to receive under Section 6(b) below), subject to Section 6(f): (i) any earned but unpaid Base Salary and, to the extent consistent with general Company policy, accrued but
unused vacation through and including the date of termination of your employment to be paid in accordance with the Company’s regular payroll practices and with applicable law but no later than the next regularly scheduled pay period,
(ii) any earned but unpaid Annual Bonus for the fiscal year preceding the fiscal year in which your employment ends, to be paid on the date such Annual Bonus otherwise would have been paid if your employment had continued,
(iii) unreimbursed business expenses in accordance with the Company’s policies for which expenses you have provided appropriate documentation, and (iv) any amounts or benefits to which you are then entitled under the terms of the
benefit plans then sponsored by the Company in accordance with their terms (and not accelerated to the extent acceleration does not satisfy Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A” of the 

  
 - 3 - 

 
“Code”)). Notwithstanding any other provision in this Agreement to the contrary, you will be entitled to severance, if any, solely through the terms of this
Section 6, unless another written Board-approved agreement between you and the Company, or other Board-approved arrangement, expressly provides otherwise. 

(b)     Termination Without Cause or for Redundancy, Resignation for Good Reason. If, during the Employment
Period, the Company terminates your employment without Cause (defined below) including by giving notice of non-extension of this Agreement, or due to Redundancy (defined below), or you resign from the Company
for Good Reason (defined below) (provided that you must give not less than 6 month notice of resignation, whether or not for Good Reason), in addition to the amounts covered by Section 6(a), the Company will pay to you the following, subject to
compliance with Section 6(b)(iv) and Section 6(f): 
 (i)     Cash Severance. The
Company will pay to you in cash an amount equal to the sum of (1) your then-current Base Salary, plus (3) the amount of your target Annual Bonus for the fiscal year of the Company in which you are terminated multiplied by a
fraction, the numerator of which is twelve minus the number of whole calendar months remaining in the fiscal year of the Company in which you are terminated, and the denominator of which is 12, paid in equal installments over a 12-month period beginning as provided under Section 6(b)(iv) or at such later date as Section 7(a) provides. For the avoidance of doubt, these benefits are inclusive of and fully compensate you for any
notice, or payment in lieu of notice, and any redundancy pay entitlement under applicable law. 
 (ii)
    Benefits. Subject to compliance with Section 6(b)(iv), you will continue to receive healthcare benefits in accordance with Section 5(a) for a period of 12 months after termination of employment. Subject to
compliance with Section 6(b)(iv), you will also receive outplacement services, provided that such services may not continue more than 12 months following the termination of your employment. 

(iii)     Equity Compensation. In addition to the compensation and benefits described in
Section 6(b)(i) and (ii) above and subject to the release required under Section 6(b)(iv), any outstanding equity compensation awards will fully and immediately vest with respect to any amounts that would have vested if you had
remained employed for an additional 24 months and, as applicable, become exercisable, provided that the Board will have the right to suspend exercises or sales with respect to such equity compensation pending satisfaction of the release requirement,
and provided further that the vesting will not accelerate the distribution of shares underlying equity awards if such acceleration would trigger taxation under Section 409A(a)(1)(B). 

(iv)     Release. To receive any severance benefits provided for under this Agreement, you must
deliver to the Company a general release of claims arising prior to the date of termination and relating to your employment by the Company in a customary form provided by the Company, which must become irrevocable within 60 days following the
date of your termination of employment, provided, that in no event shall the release purport to release claims to the compensation described in Section 6(a) and (b) and, if applicable, Section 4(d) or other continuing rights
under this Agreement. Subject to Section 7, any such severance benefits that (i) are conditioned in any part on such a 

  
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release of claims and (ii) would otherwise be paid (assuming the release is given) prior to the last day on which the release could become irrevocable assuming your latest possible execution
and delivery of the release (such last day, the “Release Effective Date”) shall be paid, if ever, only on the Release Effective Date, even if your release becomes irrevocable before that date. The Company may elect to make
such payment up to thirty (30) days prior to the Release Effective Date, however. You must continue to comply with the covenants under Sections 8 and 9 in all material respects to continue to receive severance benefits. 

(c)     Termination for Cause, Voluntary Resignation Without Good Reason. 

(i)     General.    If, during the Employment Period, the Company terminates
your employment for Cause, or you voluntarily resign from your employment other than for Good Reason, you will be entitled only to the payments described in Section 6(a) (excluding, on a termination for Cause, clause (ii) of
Section 6(a)). You will have no further right to receive any other compensation or benefits after such termination or resignation of employment, except as determined in accordance with the terms of the employee benefit plans or programs of the
Company or as required by law. 
 (ii)      Definitions. 

(I)     Cause. For purposes of this Agreement, “Cause” means termination
of your employment because of (i) fraud, (ii) material misrepresentation not including any exercise of business judgment in good faith relating to the performance of your duties to the Company; (iii) material instances of theft
or embezzlement of assets of the Company; (iv) your conviction, or plea of guilty or nolo contendere to any felony; (v) material failure to follow the Company’s conduct and ethics policies that have been provided or made available to
you; (vi) your material breach of this Agreement; and/or (vii) your continued failure to attempt in good faith to perform your duties as reasonably assigned by the Board. Before terminating your employment for Cause under clauses (ii),
(iii), (v), (vi), or (vii) above, the Company will specify in writing to you the nature of the act, omission, refusal, or failure that it deems to constitute Cause and, unless such circumstances are impossible to correct, give you 30 days after
you receive such notice to correct the situation (and thus avoid termination for Cause), unless the Board agrees to further extend the time for correction. 

(II)     Good Reason. For purposes of this Agreement, “Good Reason” means,
the occurrence, without your prior written consent, of any of the following events: (i) any material diminution in your authority, duties or responsibilities with the Company; (ii) a breach by the Company of any material provision of this
Agreement; or (iii) the Company’s requiring you to perform your principal services primarily in a geographic area more than 35 miles from the Individual’s current residence, as that may change from time to time, unless the place of
required performance is closer to your then principal residence than was the prior place of required performance. No resignation for Good Reason for which any severance benefits will become payable under Section 6(b) will be effective unless
(x) you have given written notice to the Company of your intention to terminate your employment for Good Reason, describing the grounds 

  
 - 5 - 

 
for such action, no later than 90 days after the first occurrence of such circumstances, (y) you have provided the Company with at least 30 days in which to cure the circumstances, and
(z) if the Company is not successful in curing the circumstance, you end your employment within six months after the initial occurrence. 

(III)    Redundancy. For purposes of this Agreement, “Redundancy” means
where your role is no longer required to be performed by anybody. 
 (d)     Death or Disability. Your
employment hereunder will terminate immediately upon your death or Disability. “Disability” shall mean your inability, due to an illness or injury, to perform the inherent requirements of your role under this Agreement at the
relevant time of assessment of Disability, or in the reasonably foreseeable future. A determination of Disability shall be made by a physician satisfactory to both you and the Company; provided that if you and the Company do not agree on a
physician, you and the Company shall each select a physician and these two together shall select a third physician, whose determination as to Disability shall be binding on all parties. Employment termination under this subsection is not covered by
Section 6(b). 
 (e)     Agreed Change of Role. You agree that you will negotiate in good faith
should the Board seek to appoint a chief executive officer of the Company, to agree to transition to the role of Non-Executive Chairman (provided that the Company provide a period of notice of no less than 6
months), in which case you agree that your employment as Executive Chairman may be terminated by the Company and your compensation adjusted such that you will receive compensation appropriate to the position of
Non-Executive Chairman, provided that while you remain a director of the Company, the options issued pursuant to Section 4(c) will vest in accordance with the vesting program while you remain a director
of the Company. The termination provisions outlined in Section 6 (b) (iii) of accelerated vesting of outstanding options will apply if there is a change of role with respect to remaining on the Board of Directors of the Company. 

(f)     Further Effect of Termination on Board and Officer Positions. If your employment ends for any reason
(except pursuant to Section 6(e)), you agree that you will cease immediately to hold any and all officer or director positions you then have with the Company or any affiliate, absent a contrary direction from the Board (which may include either
a request to continue such service or a direction to cease serving upon notice), except to the extent that you reasonably and in good faith determine that ceasing to serve as a director or officer would breach your fiduciary duties to the Company or
such affiliate. You hereby irrevocably appoint the Company to be your attorney to execute any documents and do anything in your name to effect your ceasing to serve as a director and officer of the Company and any affiliate, should you fail to
resign following a request from the Board to do so. A written notification signed by a director or duly authorized officer of the Company that any instrument, document or act falls within the authority conferred by this subsection will be conclusive
evidence that it does so. The Company will prepare any documents, pay any filing fees, and bear any other expenses related to this section. 

(g)     Benefits Requiring Shareholder Approval. Notwithstanding any other provision of this Agreement, on
termination of your employment for any reason, the Company is 

  
 - 6 - 

 
not required to make any payment or provide any benefit which is not permitted by law in the absence of shareholder approval. 

7.         Effect of Section 409A of the Code.

 (a)     Six Month Delay. If and to the extent any portion of any payment, compensation or other benefit
provided to you in connection with your employment termination is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and you are a specified employee as defined in
Section 409A(a)(2)(B)(i), as determined by the Company in accordance with its procedures, by which determination you hereby agree that you are bound, such portion of the payment, compensation or other benefit shall not be paid before the
earlier of (i) the expiration of the six month period measured from the date of your “separation from service” (as determined under Section 409A) or (ii) the tenth day following the date of your death following such
separation from service (the “New Payment Date”). The aggregate of any payments that otherwise would have been paid to you during the period between the date of separation from service and the New Payment Date shall be paid
to you in a lump sum in the first payroll period beginning after such New Payment Date, and any remaining payments will be paid on their original schedule. Payments subject to the foregoing up to six month delay will bear interest for the period
they are delayed at the Wall Street Journal prime rate based on the interest rate in effect on the date of employment termination, compounded monthly and paid in the first payroll period beginning after the New Payment Date. 

(b)     General 409A Principles. For the purposes of determining when amounts otherwise payable on account
of your termination of employment under this Agreement will be paid, which amounts become due because of your termination of employment, “termination of employment” or words of similar import, as used in this Agreement, shall be construed
as the date that you first incur a “separation from service” for purposes of Section 409A on or following termination of employment. For purposes of this Agreement, each amount to be paid or benefit to be provided will be construed as
a separate identified payment for purposes of Section 409A, and any payments that are due within the “short term deferral period” as defined in Section 409A or are paid in a manner covered by Treas. Reg. Section 1.409A-1(b)(9)(iii) will not be treated as deferred compensation unless applicable law requires otherwise. Neither the Company nor you will have the right to accelerate or defer the delivery of any such
payments or benefits except to the extent specifically permitted or required by Section 409A. This Agreement is intended to comply with the provisions of Section 409A and this Agreement will, to the extent practicable, be construed in
accordance therewith. Terms defined in this Agreement will have the meanings given such terms under Section 409A if and to the extent required to comply with Section 409A. In any event, the Company makes no representations or
warranty and will have no liability to you or any other person, other than with respect to payments made by the Company in violation of the provisions of this Agreement, if any provisions of or payments under this Agreement are determined to
constitute deferred compensation subject to Code Section 409A but not to satisfy the conditions of that section. 

(c)     Expense Timing. Payments with respect to reimbursements of expenses will be made in the ordinary
course and, in any case, on or before the last day of the calendar year following the calendar year in which the relevant expense is incurred. The amount of expenses eligible for reimbursement, or in-kind
benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any 

  
 - 7 - 

 
other calendar year, and the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

8.         Confidentiality, Disclosure, and Assignment 

(a)     Confidentiality. Except as may be required by law, you will not, during or after the Employment
Period, publish, disclose, or utilize in any manner any Confidential Information obtained while employed by the Company other than on behalf of the Company. If your employment with the Company ends, you will not, without the Company’s prior
written consent, retain or take away any drawing, writing or other record in any form containing any Confidential Information. For purposes of this Agreement, “Confidential Information” means information or material of the
Company that is not generally available to or used by others unaffiliated with the Company, or the utility or value of which is not generally known, whether or not the underlying details are in the public domain, including: 

(i)     information or material relating to the Company and its business as conducted or anticipated to be
conducted; business plans; operations; past, current or anticipated products, services, or software; customers or prospective customers; strategic partners and/or collaborators, price lists and all other pricing information; licensing arrangements;
research, engineering, development, manufacturing, purchasing, accounting, or marketing activities; 
 (ii)
    information or material relating to the Company’s inventions, improvements, discoveries, “know-how,” technological developments, or unpublished writings or other works of
authorship, or to the materials, apparatus, processes, formulae, plans or methods used in the development, manufacture or marketing of the Company’s products or services; 

(iii)     information on or material relating to the Company that when received is marked as
“proprietary,” “private,” or “confidential”; 
 (iv)     the
Company’s trade secrets; 
 (v)     information or material relating to the Company and its
databases, modules, products, programs, product improvements, product enhancements and/or developments, designs, specifications, processes, methods, techniques, operations, projects, plans, chemical compounds, chemical or biological materials,
engineering data, clinical or technological data, research data, financial data, personnel data, and other confidential agreements or documents (including, but not limited to, clinical trial protocols and unpublished patent applications); and 

(vi)     any similar information of the type described above that the Company obtained from another party
and that the Company treats as or designates as being proprietary, private or confidential, whether or not owned or developed by the Company. 

Notwithstanding the foregoing, “Confidential Information” does not include any information that is properly published or in the public domain;
provided, however, that information that is published by or with your aid outside the scope of employment or contrary to the requirements of 

  
 - 8 - 

 
this Agreement will not be considered to have been properly published, and therefore will not be in the public domain for purposes of this Agreement. 

(b)     Business Conduct and Ethics. During your employment with the Company, you will not engage in any
activity that you are or should have been aware is substantially likely to materially conflict with the Company’s best interests, and you will comply in all material respects with the Company’s policies and guidelines pertaining to
business conduct and ethics. 
 (c)     Disclosure. You will disclose promptly in writing to the Company
all inventions, discoveries, software, writings and other works of authorship that you created, made, conceived, discovered, reduced to practice or wrote jointly or singly on Company time or on your own time during your employment with the Company
(“Developments”), provided that the invention, improvement, discovery, software, writing or other work of authorship is capable of being used by the Company in its business, and all such inventions, improvements, discoveries,
software, writings and other works of authorship shall belong solely to the Company. 
 (d)     Current
Assignments. You agree to assign and do hereby assign to the Company (or any person or entity the Company designates) all your right, title and interest in and to all Developments and all related patents, patent applications, copyrights and
copyright applications. However, this subsection does not apply to Developments that do not relate to the business or research and development conducted or planned to be conducted by the Company at the time such Development is created, made,
conceived or reduced to practice and that are made and conceived by you not during normal working hours, not on the Company’s premises and not using the Company’s tools, devices, equipment or Confidential Information. You understand that,
to the extent this Agreement shall be construed in accordance with the laws of any state that precludes a requirement in an employee agreement to assign certain classes of inventions made by an employee, this subsection shall be interpreted not to
apply to any invention that a court rules and/or the Company agrees falls within such classes. You also hereby waive all claims to moral rights in any Developments. 

(e)     Instruments of Assignment. You will sign and execute all instruments of assignment and other papers
to evidence vestiture of your entire right, title and interest in such inventions, improvements, discoveries, software, writings or other works of authorship in the Company, at the Company’s reasonable request and expense, and you will do all
acts and sign all instruments of assignment and other papers the Company may reasonably request relating to applications for patents, patents, copyrights, and the enforcement and protection thereof. You further agree that if the Company is unable,
after reasonable effort, to secure your signature on any such papers, any executive officer of the Company will be entitled to execute any such papers as your agent and
attorney-in-fact, and you hereby irrevocably designate and appoint each executive officer of the Company as your agent and attorney-in-fact to execute any such papers on your behalf, and to take any and all actions as the Company may reasonably deem necessary or desirable in order to protect its rights and interests in any
Development, under the conditions described in this sentence. If you are needed, at any time, to give testimony, evidence, or opinions in any litigation or proceeding involving any patents or copyrights or applications for patents or copyrights,
both domestic and foreign, relating to inventions, improvements, discoveries, software, writings or other works of authorship you conceived, developed or reduced to practice, you hereby agree to do so, and if your employment ends, the Company will

  
 - 9 - 

 
pay you at an hourly rate mutually agreeable to the Company and you, plus reasonable traveling or other expenses, subject to Section 7(c). 

(f)     Government Obligations. You acknowledge that the Company from time to time may have agreements with
other persons or with the Australian Government or the United States Government, or agencies thereof, that impose obligations or restrictions on the Company regarding inventions made during the course of work under such agreements or regarding the
confidential nature of such work. You agree to be bound by all such obligations and restrictions that are made known to you and to take all action reasonably necessary to discharge the obligations of the Company under such agreements. 

(g)     Additional Post-Employment Provisions. When your employment ends, you must (x) cease and
not thereafter commence use of any Confidential Information or intellectual property (including any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source indicator) if such property is owned or used by
the Company and not otherwise licensed to you; (y) immediately destroy, delete, or return to the Company, at the Company’s option, all originals and copies in any form or medium (including memoranda, books, papers, plans, computer files,
letters and other data) in your possession or control (including any of the foregoing stored or located in your office, home, laptop or other computer, whether or not Company property) that contain Confidential Information or otherwise relate to the
business of the Company, except that you may retain only those portions of any personal notes, notebooks and diaries that do not contain Confidential Information; and (z) notify and fully cooperate with the Company regarding the delivery or
destruction of any other Confidential Information of which you are or become aware to the extent such information is in your possession or control. Notwithstanding anything elsewhere to the contrary, you may retain (and not destroy)
(x) information showing your compensation or relating to reimbursement of expenses that you reasonably believe are necessary for tax purposes and (y) copies of plans, programs, policies and arrangements of, or other agreements with, the
Company addressing your compensation or employment or termination thereof. 
 (h)     Survival. The
obligations of this Section 8 (other than Section 8(b)) will survive the expiration or termination of this Agreement and your employment. 

9.         Noncompetition and Nonsolicitation. 

(a)     General. The Parties recognize and agree that (a) you are becoming a senior executive of the
Company, (b) you have received, and will in the future receive, substantial amounts of the Company’s Confidential Information, (c) the Company’s business is conducted on a worldwide basis, and (d) provision for
noncompetition and nonsolicitation obligations by you is critical to the Company’s continued economic well-being and protection of the Company’s Confidential Information. In light of these considerations, this Section 9 sets forth the
terms and conditions of your obligations of noncompetition and nonsolicitation during and subsequent to the termination of this Agreement and/or the cessation of your employment for any reason. 

(b)    Noncompetition. 

(i)     Unless the Company waives or limits the obligation in accordance with Section 9(b)(ii), you
agree that during employment and for the Extended 

  
 - 10 - 

 
Restraint Period (defined below) or the Standard Restraint Period (defined below), as relevant, you will not directly or indirectly, alone or as a partner, equityholder, officer, director,
manager, or employee of any other firm or entity, anywhere in the Restraint Area, provide the same or similar services as you provided to the Company to any business that competes with any part of the Company’s (or any of its
subsidiaries’) business as and where conducted as of the date of such termination of employment. For purposes of this clause (i), “equityholder” does not include the passive, beneficial ownership of less than 5% of the combined voting
power of all issued and outstanding voting securities of a publicly held corporation whose stock is traded on a major stock exchange. Also for purposes of this clause (i), “the Company’s business” includes business conducted by the
Company or its affiliates and any partnership or joint venture in which the Company or its affiliates is a partner or joint venturer. The Extended Restraint Period or Standard Restraint Period, as relevant, will be further extended by any period of
time during which you are in violation of Section 9(b) or (c). 
 (ii)    At its sole option the
Company may, by written notice to you at any time within the Extended Restraint Period or Standard Restraint Period, as relevant, waive or limit the time and/or geographic area in which you cannot engage in competitive activity. 

(c)    Nonsolicitation of Employees and Consultants. During your employment and during the Extended Restraint
Period or Standard Restraint Period, as relevant, you must not, directly or indirectly, individually or on behalf of any individual or entity, (a) hire or offer to hire as an employee or engage or offer to engage the services of any individual
or entity who you are aware is then employed by or who provides services to the Company, including those who ceased to be employed or provide services within six months before the date of proposed hiring or engagement (to the extent, in the case of
any consultant, such engagement would require the consultant to materially diminish or otherwise limit his, her, or its services to the Company), or (b) solicit, aid or induce any individual or entity who you are aware is then employed by or
who provides services to the Company, including those who ceased to be employed or provide services within six months before the date of proposed hiring or engagement, to reduce or terminate his, her, or its services to the Company and its
subsidiaries, to accept employment with, or render services to or with, any individual or entity unaffiliated with the Company (provided that nothing in this Section 9(c) prohibits you from, directly or indirectly, engaging in any general
solicitations, so long as your solicitation does not specifically target any of the individuals or entities who were employed by or who provided services to the Company during the period prohibited above). 

(d)     Interpretation. 

(ii)    Operation of restraints. You agree that this Section 9 has effect as separate and
severable restraints comprised of a combination of each of Section 9(a), Section 9(b) and Section 9(c) with each tended Restraint Period or Standard Restraint Period, as relevant, and each Restraint Area. If any such restraint created
by such combination is determined to be void, the remaining combinations are severable and will continue to apply with such deletions or modifications as necessary to make them valid, effective and enforceable. If there

  
 - 11 - 

 
is any inconsistency or contradiction between the restraints created by such combination, the combination with the longest duration is the agreed restraint 

(ii)      Definitions. 

(I)    Extended Restraint Period.    For purposes of this Agreement,
“Extended Restraint Period” means, following your cessation of employment, if you are terminated by the Company without Cause, or you resign for Good Reason (and the Company provides the benefits to which you are entitled
under Section 6(b)), the period of: (i) 24 months; (ii) 18 months; (iii) 12 months; (iv) 9 months. 

(II)    Standard Restraint Period. For purposes of this Agreement, “Standard Restraint
Period” means, following your cessation of employment if you resign without Good Reason or you are terminated by the Company for Cause, the period of: (i) 24 months; (ii) 18 months; (iii) 12 months; (iv) 9 months. 

(III)    Restraint Area. For purposes of this Agreement, “Restraint Area”
means: (i) anywhere in the world where the Company or its subsidiaries conducts its business; (ii) the United States of America and Australia; (iii) the United States of America; (iv) Australia 

(e)     Survival. The obligations of this Section 9 survive the expiration or termination of this
Agreement and your employment. 
 10.         Enforcement. The
restrictions contained in Sections 8 and 9 are necessary for the protection of the business and goodwill of the Company and you agree that you consider them to be reasonable for such purpose. You agree that any material breach of Sections 8 and 9 is
likely to cause the Company substantial and irrevocable damage that is difficult to measure. Therefore, in the event of any such breach or threatened breach, you agree that the Company, in addition to such other remedies as may be available, shall
have the right to obtain an injunction from a court restraining such a breach or threatened breach and the right to specific performance of the provisions of this Agreement and you hereby waive the adequacy of a remedy at law as a defense to such
relief and any requirement of the Company to post a bond, and you will be deemed to have expressly waived any rights you may have had to payments under Section 6(b). 

11.         Indemnification. In addition to any indemnification provided by
the Company’s organizational documents, the Company will enter into an indemnification agreement with you as a director in the form used for other directors, provided, that such indemnification agreement shall also indemnify you with
respect to your service as an officer of the Company. This Section 11 will survive the termination or expiration of this Agreement and your employment. 

12.         Miscellaneous. 

(a)     Notices. All notices required or permitted under this Agreement shall be in writing and shall
be deemed effective upon personal delivery or three business days following deposit in a Post Office, by certified mail, postage prepaid, or one business day after it is sent for next-business day delivery via a reputable nationwide overnight
courier service in the case of notice to the Company to its address set forth in the introductory paragraph hereto and in the case of notice to you to the current address on file with the Company. Either Party may change the

  
 - 12 - 

 
address to which notices are to be delivered by giving notice of such change to the other Party in the manner set forth in this Section 12(a). 

(b)     No Mitigation. You are not required to seek other employment or otherwise mitigate the value of any
severance benefits contemplated by this Agreement, nor will any such benefits be reduced by any earnings or benefits that you may receive from any other source. Notwithstanding any other provision of this Agreement, any sum or sums paid under this
Agreement will be in lieu of any amounts to which you may otherwise be entitled under the terms of any severance plan, policy, program, agreement or other arrangement sponsored by the Company or an affiliate of the Company. 

(c)     Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, THE
PARTIES HEREBY WAIVE, AND COVENANT THAT THEY WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR OTHER PROCEEDING ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT OR
THE RELEASE IT CONTEMPLATES, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, THE PARTIES AGREE THAT ANY PARTY MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING,
VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE THEIR RIGHTS TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT, RELATING TO YOUR EMPLOYMENT, OR
COVERED BY THE CONTEMPLATED RELEASE. 
 (d)     Severability. Each provision of this Agreement must be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. Moreover, if a court of competent jurisdiction determines any of the provisions contained in this Agreement to be
unenforceable because the provision is excessively broad in scope, whether as to duration, activity, geographic application, subject or otherwise, it will be construed, by limiting or reducing it to the extent legally permitted, so as to be
enforceable to the extent compatible with then applicable law to achieve the intent of the Parties. 
 (e)
    Assignment. This Agreement will be binding upon and will inure to the benefit of (i) your heirs, beneficiaries, executors and legal representatives upon your death and (ii) any successor of the
Company. Any such successor of the Company will be treated as substituted for the Company under the terms of this Agreement for all purposes. You specifically agree that any assignment may include rights under the restrictive covenants of
Sections 8 and 9. As used herein, “successor” will mean any person, firm, corporation or other business entity that at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or
substantially all of the assets or business of the Company and its subsidiaries. 
 None of your rights to receive any form of compensation
payable under this Agreement will be assignable or transferable except through a testamentary disposition or by the laws of 

  
 - 13 - 

 
descent and distribution upon your death or as provided in Section 10(j). Any attempted assignment, transfer, conveyance or other disposition (other than as aforesaid) of any interest in
your rights to receive any form of compensation hereunder will be null and void; provided, however, that notwithstanding the foregoing, you will be allowed to transfer vested shares subject to stock options (other than incentive stock
options within the meaning of Section 422 of the Code) or the vested portion of other equity awards consistent with the rules for transfers to “family members” as defined in Securities Act Form
S-8. Any other attempted assignment, transfer, conveyance or other disposition of any interest in your rights to receive any form of compensation hereunder will be null and void. 

(f)     No Oral Modification, Waiver, Cancellation or Discharge. This Agreement may only be amended,
canceled or discharged or any obligations thereunder waived through a writing signed by you and the Chair of the Remuneration Committee or any executive officer of the Company (other than you) duly authorized either by the Board or the Remuneration
Committee. 
 (g)     No Conflict of Interest. You confirm that you have fully disclosed to the Company,
to the best of your knowledge, all circumstances under which you, your immediate family and other persons who reside in your household have or may have a conflict of interest with the Company. You further agree to fully disclose to the Company any
such circumstances that might arise during your employment upon your becoming aware of such circumstances. 
 (h)
    Other Agreements. You hereby represent that your performance of all the terms of this Agreement and the performance of your duties as an employee of the Company does not and will not breach any agreement to keep
in confidence proprietary information, knowledge or data acquired by you in confidence or in trust prior to your employment with the Company and that you will not disclose to the Company or induce the Company to use any confidential or proprietary
information, knowledge or material belonging to any previous employer or others. You also represent that you are not a party to or subject to any restrictive covenants, legal restrictions, policies, commitments or other agreements in favor of any
entity or person that would in any way preclude, inhibit, impair or limit your ability to perform your obligations under this Agreement, including noncompetition agreements or nonsolicitation agreements, and you further represent that your
performance of the duties and obligations under this Agreement does not violate the terms of any agreement to which you are a party. You agree that you will not enter into any agreement or commitment or agree to any policy that would prevent or
hinder your performance of duties and obligations under this Agreement. 
 (i)     Disclosure of this
Agreement. You acknowledge that the Company may provide others, including but not limited to customers of the Company and any of your future employers or prospective business associates, with a copy of this Agreement (or portions thereof) to
highlight your continuing obligations to the Company hereunder. 
 (j)     Survivorship. The respective
rights and obligations of the Company and you hereunder will survive any termination of your employment to the extent necessary to the intended preservation of such rights and obligations. 

(k)     Beneficiaries. You will be entitled, to the extent applicable law permits, to select and change the
beneficiary or beneficiaries to receive any compensation or benefit payable hereunder upon your death by giving the Company written notice thereof in a manner consistent 

  
 - 14 - 

 
with the terms of any applicable plan documents. If you die, severance then due or other amounts due hereunder will be paid to your designated beneficiary or beneficiaries or, if none are
designated or none survive you, your estate. 
 (l)     Withholding. The Company will be entitled to
withhold, or cause to be withheld, any amount of federal, state, city or other withholding taxes or other amounts either required by law or authorized by you with respect to payments made to you in connection with your employment. 

(m)     Company Policies. References in this Agreement to Company policies and procedures are to those
policies and procedures in effect at the Effective Date, as the Company may amend them from time to time upon reasonable notice to you. Although you are required to comply with all Company policies, such policies do not impose any obligation,
contractual or otherwise, on the Company, and policies may be amended from time to time at the Company’s sole discretion. 
 (n)
    Governing Law; Venue; Jurisdiction and Service of Process. This Agreement must be construed, interpreted, and governed in accordance with the laws of South Australia, without reference to rules relating to
conflicts of law. Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement must be commenced only in a court of the State of South Australia (or, if appropriate, a federal court located within the State
of South Australia), and the Company and you each consent to the exclusive jurisdiction of such a court. With respect to any such court action, the Parties hereto (a) submit to the personal jurisdiction of such courts; (b) consent to
service of process by the means specified under Section 12(a); and (c) waive any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction, inconvenient forum, or service of process.

 (o)     Entire Agreement. This Agreement and any documents referred to herein represent the entire
agreement of the Parties and will supersede any and all previous contracts, arrangements or understandings between the Company and you. 

Signatures on Page Following 

  
 - 15 - 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed and you have
hereunto set your hand to be effective as of the Effective Date. 
  

							
		 		 	BIONOMICS LIMITED.
				
	June 30, 2021            	 		 	By:	 	 /s/ David Wilson

	Date	 		 		 	David Wilson
			
		 		 	ERROL B. DE SOUZA
			
	June 30, 2021            	 		 	 /s/ Errol De Souza

	Date	 		 		 	

  
 - 16 - 

 Exhibit A 

Parachute Provisions 
 CERTAIN
ADDITIONAL PAYMENTS BY THE COMPANY. 
 (a)    Anything in this Agreement to the contrary notwithstanding (except
section 6(g) and except as set forth below, if any payment or distribution by the Company or its affiliates to or for your benefit (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this Section) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or you incur any interest or penalties with respect
to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then you will be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by you of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and
any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, you retain an amount of the Gross-Up Payment equal to the
Excise Tax imposed upon the Payments. This Exhibit A will only apply to events subject to Section 4999 that occur before the third anniversary of the Effective Date and while you remain employed by the Company. 

(b)    Subject to the provisions of Paragraph (c) below, all determinations required to be made under this Exhibit A,
including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination,
shall be made by such national, certified public accounting firm as you may designate (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and you as soon as practicable following
(but in any event within 30 days after) the receipt of notice from you that there has been a Payment, or such earlier time as is requested by the Company. If the Accounting Firm is serving as accountant or auditor for the individual, entity or group
effecting the event triggering the Excise Tax, you must appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). The
Company shall bear all fees and expenses of the Accounting Firm. Any determination by the Accounting Firm will be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments that the Company will not have made should have been made (“Underpayment”),
consistent with the calculations required to be made hereunder. If the Company exhausts its remedies pursuant to Paragraph (c) below and you thereafter are required to make a payment of any Excise Tax, the Accounting Firm will determine the
amount of the Underpayment that has occurred and the Company must promptly pay any such Underpayment to or for your benefit. Any Gross-Up Payment, as specified under this Agreement, shall be paid in any event
not later than the end of your taxable year next following the taxable year in which you remit the applicable taxes to the appropriate taxing authority. 

  
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 (c)    You must notify the Company in writing of any claim by the
Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification must be given as soon as practicable but no later than ten business days after
you are informed in writing of such claim and must apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. You may not pay such claim prior to the expiration of the
30-day period following the date on which you give such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies
you in writing prior to the expiration of such period that it desires to contest such claim, you must: 
 (i)    give
the Company any information reasonably requested by the Company relating to such claim, 
 (ii)    take such action in
connection with contesting such claim as the Company reasonably requests in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company, 

(iii)    cooperate with the Company in good faith in order effectively to contest such claim, and 

(iv)    permit the Company to participate in any proceedings relating to such claim; provided, however, that the Company
shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and must indemnify and hold you harmless, on an after-tax basis, for
any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Paragraph (c), the Company will
control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its
sole option, either direct you to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and you agree to prosecute such contest to a determination before any administrative tribunal, in a court of initial
jurisdiction and in one or more appellate courts, as the Company determines; provided, however, that if the Company directs you to pay such claim and sue for a refund, the Company must advance the amount of such payment to you, on an interest-free
basis and must indemnify and hold you harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with
respect to any imputed income with respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for your taxable year with respect to which such contested amount is claimed to be due is
limited solely to such contested amount. Furthermore, the Company’s control of the contest will be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and you will be
entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
 If, after you
receive an amount advanced by the Company pursuant to Paragraph (c), you become entitled to receive any refund with respect to such claim, you must (subject to the Company’s 

  
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complying with the requirements of Paragraph (c)) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If,
after your receipt of an amount advanced by the Company pursuant to Paragraph (c), a determination is made that you will not be entitled to any refund with respect to such claim and the Company does not notify you in writing of its intent to contest
such denial of refund prior to the expiration of 30 days after such determination, then such advance will be forgiven and will not be required to be repaid and the amount of such advance will offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 

  
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