Document:

Agreement

 EXHIBIT 10.21 
 CONSULTING AGREEMENT 
 This Consulting Agreement, dated as of February 14, 2008 (the
“Agreement”) is entered into by and between ImmunoCellular Therapeutics, Ltd., a Delaware corporation (the “Company”), and Dr. Cohava Gelber (“Consultant”) with reference to the following
facts: 
 A. Consultant is the inventor of certain intellectual property covering what is referred to as the DIAAD technology, monoclonal
antibodies for the detection and treatment of ovarian cancer and small cell lung cancer, and such other items as are described in the patents and patent applications listed in the attached schedule entitled Molecular Discoveries, LLC Patent
Portfolio to be acquired by ICT (the “Acquired Technology”) and has significant expertise in the field of the Acquired Technology. 
 B. Consultant is a 10% shareholder of and consultant to Molecular Discoveries LLC (“MDC”). 
 C. The Company and
MDC have entered into an Agreement, dated as of February 14, 2008 (the “Acquisition Agreement”), pursuant to which the Company will acquire ownership of the Acquired Technology at a closing of the transactions contemplated by
the Acquisition Agreement (the “Closing”). 
 D. The Acquisition Agreement provides as a condition to the Company’s
obligation to complete the transactions contemplated by the Acquisition Agreement that Consultant enter into a consulting agreement with the Company. 
 NOW, THEREFORE, the parties agree as follows: 
 1. Services. In consideration for the Company
agreeing to enter into and perform the Acquisition Agreement and the additional compensation described in Section 3 hereof, Consultant agrees to serve on a part-time basis as a consultant to the Company during the term of this Agreement.
Consultant shall advise the Company upon request by the Company on scientific and other related matters pertaining to the Acquired Technology. The Company and Consultant contemplate that most of her services will be performed from her home office
outside of the Los Angeles, California area. However, Consultant will use reasonable efforts to be available for meetings in Los Angeles, California or other locations as may be requested from time to time by the Company, provided that such meetings
do not interfere with Consultant’s ability to properly perform her current full-time job with American Type Culture Corporation (“ATCC”). The Company will reimburse Consultant for all travel expenses to attend meetings at the request
of the Company. 
 2. Term. The term of this Agreement shall commence on the date of the Closing and continue for a ten-month period,
unless terminated in writing earlier by the Company or extended in writing by both parties. 
 3. Compensation. In consideration for
the services provided by Consultant pursuant to this Agreement (including without limitation all services provided by Consultant to the Company prior to the date of this Agreement), Consultant will receive the following compensation and
reimbursements: 
 (a) Consultant shall be granted an option under the Company’s stock option plan to purchase 75,000 shares of the
Company’s common stock at an exercise price equal to the closing price of the Company’s common stock on the OTC Bulletin Board on the date of the Closing. The option shall vest with respect to 5,000 shares each month for ten months, on the
last business day of each month; and shall vest with respect to 25,000 shares when Consultant attains the milestone set forth below in paragraph 3(c). The option shall have a term of five years and such other terms as are set forth in the
Company’s customary stock option agreement. 

 (b) $100,000 in the following monthly installments: February 2008 and March 2008 - $30,000 each; April
2008, May 2008, June 2008 and July 2008 - $10,000 each. The monthly installments shall be paid on the last business day of each month. 
 (c) A success payment of $50,000, subject to the Consultant generating during the term of this Agreement an interim analysis of pre-clinical data satisfactory to the Company that demonstrates the feasibility of the small cell lung cancer
product candidate included in the Acquired Technology (non-humanized) as a medical diagnostic and predictor of responders for this indication. The data shall be generated at a contract research organization or an academic laboratory (or another
institution approved by the Company) under a research contract and protocol that shall be approved and funded by the Company. No ATCC resources will be used in the generation of data. Consultant and the Company shall in good faith mutually decide on
the timing for delivery of and the method of the interim analysis. The foregoing $50,000 milestone payment shall be paid by the Company promptly following its receipt and approval of the interim analysis. 
 (d) Business Expenses. The Company shall promptly reimburse Consultant in connection with her performance of the services and duties hereunder for
all reasonable, ordinary and necessary business expenses, including telephone charges, actually incurred by Consultant in connection with that performance, including expenses incurred in connection with travel on the Company’s business. Travel
expenses will be reimbursed in accordance with the Company’s travel reimbursement policy. The Company shall provide a laptop computer for Consultant’s use on Company business and either purchase or reimburse Consultant for any other
supplies necessary to facilitate Consultant’s work. 
 4. Compliance with Agreements. Consultant represents to the Company that
she may perform this Agreement without violating any agreement or understanding that she has with MDC or ATCC. 
 5. Confidential
Information. Consultant will hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses.
Consultant will not, without the prior written consent of the Company, or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than to the Company and those designated
by the Company in writing. Furthermore, upon termination of this Agreement or of Consultant’s service to the 

  

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Company, Consultant will promptly deliver to the Company all books, memoranda, records and written data of every kind relating to the business and affairs of
the Company that may then be in her personal possession. Consultant acknowledges and agrees that this provision regarding confidential information will survive termination of this Agreement or of the Consultant’s service to the Company.

 6. Conflicts of Interest. Should a conflict if interest arise between ICT and ATCC with respect to the Consultant, Consultant shall
work to cure said conflict, including, if necessary, her resignation as a consultant for ICT. Consultant’s resignation due to a conflict of interest between ICT and ATCC shall not constitute a breach of this Agreement, but no compensation under
paragraph 3 shall be payable or accrue to Consultant for any period subsequent to her resignation. 
 7. No Conflict. Consultant
represents that Consultant’s performance of all the terms of this Agreement and that Consultant’s retention as a consultant by the Company does not and will not breach any agreement to keep in confidence any proprietary information
acquired by Consultant in confidence prior to Consultant’s retention as a consultant by the Company. Consultant has not entered into, and agrees Consultant will not enter into, any agreement, either written or oral, in conflict with the
foregoing sentence. Consultant understands as part of the consideration for the offer to retain Consultant as a consultant, and of Consultant’s retention as a consultant by the Company, that Consultant has not brought and will not bring with
Consultant any equipment, supplies, facility or trade secret information of any current or former employer which are not generally available to the public. Consultant also understands that, in Consultant’s retention as a consultant with the
Company, Consultant is not to breach any obligation of confidentiality that Consultant has to others, and Consultant agrees that Consultant shall fulfill all such obligations during Consultant’s retention as a consultant with the Company.

 8. License and Assignment of Rights. Consultant acknowledges that all inventions, original works of authorship, developments,
concepts, know-how, improvements or trade secrets which are made by Consultant (solely or jointly with others) within the scope of and as part of Consultant’s consultancy with the Company (collectively referred to herein as
“Inventions”) are “works made for hire” (to the greatest extent permitted by applicable law) and are compensated by the consideration provided by the Company as described in this Agreement, unless regulated otherwise by the
mandatory law of the State of California. Consultant also agrees and warrants that Consultant will not use or incorporate third party proprietary materials into Inventions, disclose third party proprietary information to Company or knowingly engage
in any activities or use any facilities in the course of providing services under this Agreement that could result in claims of ownership to any Inventions being made by any third party. 
 9. Resolution of Disputes. Any dispute arising under or in connection with any matter related to this Agreement or any related agreement shall be
resolved exclusively by arbitration. The arbitration will be in conformity with and subject to the applicable rules and procedures of JAMS. All parties agree to be (i) subject to the jurisdiction and venue of the arbitration in Los Angeles,
California; and (ii) bound by the decision of the arbitrator as the final decision with respect to the dispute. 
  

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 10. Governing Law. This agreement shall be governed by and construed in accordance with the laws
of the State of California without regard to the choice of law rules thereof. 
 11. Amendment. This Agreement may only be amended by
a writing executed by both parties. 
 12. Nature and Disclosure of Relationship. It is agreed by the parties that Consultant is an
independent contractor and that this Agreement shall not create any employee-employer relationship between the parties. The parties each shall be entitled to disclose that Consultant is serving as a consultant to the Company, including in any
business plan, press release, advertisement, prospectus or other offering document of the Company or its affiliates. No mention of ATCC or International BioResources Group (“IBG”) can be made without prior review of such communications by
ATCC/IBG. 
 13. Entire Agreement. Except for any agreement between MDC and the Company to which Consultant is a party or has
acknowledged or for any non-disclosure agreement previously entered into by the parties, this Agreement constitutes the entire agreement between the parties hereto with respect to Consultant’s service as a consultant, and supercedes all prior
oral or written understandings or agreements between the parties hereto. 
 14. Severability. If any provision of this Agreement is
held to be unenforceable under applicable law, such provision shall be severed and the remaining provisions of this Agreement shall continue in full force and effect. 
 15. Advice of Counsel. Each party acknowledges that, in executing this Agreement, such party has had the opportunity to seek the advice of independent legal counsel and has read and understood all of the terms
and provisions of this Agreement. This Agreement shall not be construed against any party by reason of the drafting or preparation thereof. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. 
  

			
	 IMMUNOCELLULAR THERAPEUTICS, LTD.

		
	By:	 	 /s/ C. Kirk Peacock

	Name:	 	C. Kirk Peacock
	Title:	 	President & CFO
	
	 CONSULTANT

		
	By:	 	 /s/ Cohava Gelber

		 	Dr. Cohava Gelber

  

 4Agreement

 EXHIBIT 10.22 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is made as of the 18th
day of February, 2008, by and between ImmunoCellular Therapeutics, Ltd., a Delaware corporation (the “Corporation”), and Dr. Manish Singh (hereinafter called “Executive”). 
 W I T N E S S E T H: 
 WHEREAS, the
Corporation desires to employ Executive under the terms of this Agreement, and Executive is willing to accept such employment on the terms and subject to the conditions hereinafter set forth; 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows: 
 1. Employment by Corporation. The Corporation hereby agrees to employ Executive to perform the duties on behalf of the Corporation as the
Corporation’s full-time President and Chief Executive Officer of the Corporation. As President and Chief Executive Officer, Executive will report to the Corporation’s Chairman of the Board, and shall have such duties consistent with that
of a President and Chief Executive Officer that may from time to time be designated or assigned to Executive pursuant to the directives of the Corporation’s Board of Directors (the “Board”), including without limitation the overseeing
and implementation of the Corporation’s business plan as adopted by the Board. Executive will perform his duties under this Agreement at the Corporation’s corporate headquarters in the metropolitan Los Angeles area, with such office
currently contemplated to be in the Woodland Hills, California area, or at such other location as shall be mutually agreed upon by the Corporation and Executive; and he will do such traveling as may be required of him in the performance of his
duties as the President and Chief Executive Officer. The Corporation will use its commercially reasonable efforts to have Executive serve as a member of the Board during the term of this Agreement. 
 2. Executive’s Acceptance of Employment. Executive hereby accepts such employment and agrees that throughout the period of his employment
hereunder: he will devote his full time, attention, knowledge and skills, faithfully, diligently and to the best of his ability, in furtherance of the business of the Corporation, and he will perform the duties assigned to him pursuant to Paragraph
1 hereof, subject, at all times, to the direction and control of the Board. 
 Executive shall at all times be subject to, observe and carry
out such reasonable rules, regulations, policies, directions and restrictions as the Corporation shall from time to time establish. During the period of his employment by the Corporation, Executive agrees to be bound by the Corporation’s Code
of Ethics and any amendments adopted thereto, copies of which Executive hereby acknowledges he has received and read, and Executive agrees that he shall not, without the prior written approval of the Chairman of the Board, directly or indirectly,
accept employment or compensation from or perform services of any nature for, any business enterprise other than the Corporation, other than as explicitly set forth herein. 
 3. Term. Executive shall be employed for a term of one year commencing on February 18, 2008 (the “Commencement Date”), and ending
on February 17, 2009 unless his 

 
employment is terminated prior thereto pursuant to the provisions hereof. The term of this Agreement may be extended for an additional year, if both the
Corporation and the Executive deliver a written extension notice to each other no later than the 60th calendar day prior to the expiration of the term of this Agreement. This Agreement shall automatically expire on February 17, 2009 and shall
not be extended or renewed except in a writing signed by an authorized officer of the Corporation following approval by the Board. Executive hereby acknowledges and agrees that, except in the case of the Corporation and Executive agreeing in writing
to extend the term of the Agreement beyond the expiration date of this Agreement, his employment by the Corporation, if any, beyond the expiration date of this Agreement shall be terminable by either party at will and shall not, under any
circumstances, be deemed to expressly or impliedly renew the terms of this Agreement. 
 4. Compensation/Benefits. 
 4.1 The Corporation will pay to Executive as compensation for his services hereunder an initial base salary of $200,000 per annum, payable in equal
monthly installments on the last business day of each month. In addition, the Board of Directors of the Corporation shall annually review Executive’s performance and base salary to determine whether an increase in the amount thereof is
warranted. 
 4.2 The Corporation also shall pay Executive lump sum cash milestone bonuses of (i) $100,000 if during the term of this
Agreement the Corporation completes one or more financings that generate aggregate net proceeds to the Corporation (after commissions) of at least $5,000,000 and (ii) an additional $100,000 if during the term of this Agreement completes one or
more financings that generate aggregate net proceeds to the Corporation (after commissions) of at least $10,000,000. Any financing shall be undertaken and the terms of such financing shall be at the discretion of the Board. The bonuses, if any,
shall be paid to Executive immediately following the Corporation’s receipt of the financing proceeds. 
 4.3 The Corporation shall grant
the Executive on February 18, 2008 under the Corporation’s 2006 Equity Incentive Plan (the “Plan”) a nonqualified stock option to purchase 600,000 shares of the Corporation’s common stock having an exercise price per share
equal to $1.00 and having a term of seven years from the date of grant. This option is subject to cancellation in the event of, and may not be exercised as to any of the shares covered by the option unless and until, the Corporation’s
shareholders approve an increase in the authorized number of shares covered by the Plan to at least 1,850,000 shares. The option shall vest in twelve equal monthly installments over the twelve month period from and immediately following the
Commencement Date. 
 The option will be exercisable within the seven year term of the option during the period that Executive provides
services to the Corporation and for 24 months after termination for any reason except termination for cause by the Corporation, provided that such exercise is effected within the seven-year term of the option. In the event of a Corporate Transaction
(as such term is defined in the Plan), vesting of the option (and any other options granted to Executive) shall be governed by the provisions contained in the Corporation’s standard stock option agreement under the Plan for the
Corporation’s officers and directors. The option will have such other terms and conditions as are included in the Corporation’s standard stock option agreement under 

  

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the Plan. If the term of this Agreement is extended beyond February 17, 2009, or if Executive’s employment hereunder continues at-will beyond
February 17, 2009, the Board of Directors of the Corporation shall review the aggregate number of stock options granted to the Executive promptly following such date (and thereafter not less frequently than annually) in order to determine
whether an increase in the number thereof is warranted. Any such option shall have substantially the same terms and conditions as the initial option contemplated hereunder. Within thirty (30) days following the grant of any stock option to
Executive, the Corporation shall file with the U.S. Securities and Exchange Commission a registration statement on Form S-8 covering the shares of the Corporation’s common stock issuable pursuant to any options issued to Executive and
then-outstanding, to the extent the shares so issuable are not covered by an existing Form S-8 registration statement. 
 5. Business
Expenses. The Corporation will promptly reimburse Executive for all business expenses incurred by Executive in connection with the business of the Corporation in accordance with the Corporation’s policy regarding the nature and amount of
expenses and the maintenance and submission of receipts and records necessary for the Corporation to document them as proper business expenses. 
 6. Vacation. In addition to holidays observed by the Corporation, Executive shall be entitled to paid vacation of three (3) weeks per year or such greater amount of vacation as is approved by the Chairman of the Board. Any such
vacations are to be taken at times mutually agreeable to Executive and the Chairman of the Board. Executive shall not be entitled to accrue more than six (6) weeks of accrued vacation time at any given time. In the event that Executive has
accrued the maximum of six (6) weeks accrued and unused vacation time, Executive shall cease accruing further vacation time until such time as Executive’s accrued and unused vacation time is less than such maximum amount. 
 7. Benefits. Executive shall be entitled to all rights and benefits for which he shall be eligible under any benefit or other plans (including,
without limitation, dental, medical, medical reimbursement and hospital plans, pension plans, employee stock purchase plans, profit sharing plans, bonus plans and other so-called “fringe” benefits) as the Corporation shall make available
to its executive officers from time to time. 
 8. Termination. 
 8.1 In addition to all other rights and remedies which the parties may have under applicable law, the Corporation may terminate this Agreement and the
services of Executive, effective upon the occurrence of any of the following events, any of which shall constitute a termination for “cause” under this Agreement: (i) a failure by Executive to perform any of his material obligations
under this Agreement; (ii) the death of Executive or his disability resulting in his inability to perform his reasonable duties assigned hereunder for a period of three consecutive months; (iii) Executive’s theft, dishonesty, or
falsification of any Corporation documents or records; (iv) Executive’s improper use or disclosure of the Corporation’s confidential or proprietary information; or (v) Executive’s conviction (including any plea of guilty or
nolo contendere) of any criminal act which impairs Executive’s ability to perform his or her duties hereunder or which in the Board’s judgment may materially damage the business or reputation of the Corporation; provided, however, that
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under clause (i), Executive shall have a period of ten (10) days after written notice from Corporation to cure the event or grounds constituting such
cause. Any notice of termination provided by Corporation to Executive under this Section 8 shall identify the events or conduct constituting the grounds for termination with sufficient specificity so as to enable Executive to take steps to cure
the same if such default is a failure by Executive to perform any of his material obligations under this Agreement. In the event Corporation terminates Executive for cause, (i) Executive shall be entitled as of the termination date to no
further base salary other than such portion of Executive’s base salary as shall have accrued but remain unpaid as of the termination date, which shall be due immediately upon termination, (ii) Executive shall be entitled to receive payment
of any earned but unpaid bonus, as well as any expense reimbursement amounts owed by the Corporation to the Executive through the date of termination and (iii) any then unexercised but outstanding stock options granted to Executive shall be
cancelled. The Corporation shall have no further obligations to Executive under this Agreement. 
 8.2 The Corporation may terminate
Executive without cause upon sixty (60) days written notice delivered to Executive. In the event the Corporation terminates Executive’s employment without cause (including a failure by the Corporation upon the expiration of the original
term of this Agreement to extend the term of Executive’s employment for an additional one year beginning February 18, 2009) all of the following will apply: (i) immediately upon termination, the Corporation will pay to Executive any
base salary as shall have accrued but remain unpaid as of the termination date, any earned but unpaid bonus and any expense reimbursement amounts owed by the Corporation to the Executive through the date of termination; (ii) immediately upon
termination, the Corporation will pay to Executive severance compensation in a lump sum cash payment equal to Executive’s then effective base salary for a period of six (6) months; (iii) any stock options granted to Executive, to the
extent vested, will be retained by the Executive and will be exercisable as detailed in Section 4.3 above, the Plan and related stock option agreement (which shall reflect the terms set forth in Section 4.3 above); and (iv) the
vesting of an additional number of shares subject to all options granted to Executive equal to fifty percent (50%) of all such shares subject to such options that have not already vested shall immediately accelerate and become fully vested and
exercisable by Executive and will continue to be exercisable as provided in Section 4.3, the Plan and related stock option agreement (which shall reflect the terms set forth in Section 4.3 above). 
 8.3 Executive may terminate Executive’s employment at will (without “Good Reason” as defined below) by giving sixty (60) days’
prior written notice to Corporation. Executive shall be entitled to (i) all base salary up to and through the 60-day period after Executive’s notice of termination is given to Corporation, any earned but unpaid bonus and any expense
reimbursement amounts owed by the Corporation to the Executive through the date of termination and (ii) any stock options, to the extent vested, may be retained by Executive and will be exercisable as detailed in Section 4.3 above, the
Plan and applicable stock option agreement (which shall reflect the terms set forth in Section 4.3 above). Executive has the right to terminate Executive’s employment for “Good Reason” due to, and within a reasonable period of
time following, the occurrence of any of the following: (i) Corporation’s requirement that Executive’s principal place of work relocate more than fifty (50) miles from its location as of the Effective Date without the written
consent of Executive to such relocation, (ii) a material adverse change in Executive’s duties and responsibilities; (iii) any failure by Corporation to pay, or any material reduction by Corporation of, the base salary or any failure
by Corporation to pay any 

  

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incentive compensation to which Executive may be entitled pursuant to Section 4; (iv) Corporation creates a work environment designed to
constructively terminate Executive or to unlawfully harass or retaliate against Executive or (v) the Corporation fails to obtain shareholder approval of an increase in the size of the Plan and cancels the stock option as described in
Section 4.3 In the event that Executive terminates his employment for Good Reason all of the following will apply: (A) within five days after the termination date, Corporation will pay to Executive any base salary as shall have accrued but
remain unpaid as of the termination date, any earned but unpaid bonus and any expense reimbursement amounts owed by the Corporation to the Executive through the date of termination; (B) within 5 days after the termination date, Corporation will
pay to Executive severance compensation in a lump sum cash payment equal to Executive’s base salary then in effect equal to six (6) months; (C) any stock options granted to Executive, to the extent vested, will be retained by the
Executive and will be exercisable as detailed in Section 4.3 above, the Plan and related stock option agreement (which shall reflect the terms set forth in Section 4.3 above); and (D) the vesting of an additional number of shares
subject to all options granted to Executive equal to fifty percent (50%) of all such shares subject to such options that have not already vested shall immediately accelerate and become fully vested and exercisable by Executive and will continue
to be exercisable as provided in Section 4.3, the Plan and related stock option agreement (which shall reflect the terms set forth in Section 4.3 above). 
 9. Indemnity. Executive warrants and represents that he has full power and authority to enter into and perform this Agreement and that his performance of this Agreement will not violate the provisions of any
other agreement to which he is a party. The Corporation agrees to indemnify and hold Executive harmless from and against any and all claims, demands, causes of action, losses, damages, liability, costs and expenses, including attorneys fees arising
out of his services hereunder, other than those arising from or attributable to or resulting from his gross negligence or willful misconduct. The Corporation will name Executive as an officer on any policy of directors and officers liability
insurance it secures throughout the term of this Agreement. 
 10. Non-Competition. In consideration of the Corporation’s
entering into this Agreement: 
 10.1 Executive agrees that during the term of this Agreement he will not directly or indirectly own, manage,
operate, join, control, participate in, perform any services for, invest in, or otherwise be connected with, in any manner, whether as an officer, director, employee, consultant, partner, investor or otherwise, any business entity which is engaged
in any business in which the Corporation is currently engaged or is engaged at the termination of this Agreement. Nothing herein contained shall be deemed to prohibit (i) Executive from maintaining any investments in, and the holding of any
securities of, any company to the extent such investments were made or such securities held by Executive prior to the Commencement Date or (ii) investing his funds in securities of a company if the securities of such company are listed for
trading on a national securities exchange or traded in the over the counter market and Executive’s holdings therein represent less than five percent (5%) of the total number of shares or principal amount of other securities of such company
outstanding. Notwithstanding the foregoing, Executive shall be permitted to continue to serve, for a period of up to sixty (60) days after the Commencement Date, as a consultant and/or member of the board of directors of any other company to
the extent Executive was serving as a consultant and/or member of such board of directors, as applicable, as of immediately prior to the Commencement Date. 
  

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 10.2 Executive agrees that Executive will not, during the term hereof or prior to the expiration of one
year following the termination of the Executive’s employment for any reason, without the written consent of the Corporation, directly or indirectly, by action alone or in concert with others, solicit for employment or engagement, or advise or
recommend to any other person or entity that such person or entity solicit for employment or engagement, any person or entity employed or engaged by the Corporation. 
 11. Confidentiality Agreement. 
 11.1 As used herein, the term “Confidential Information”
shall mean the any and all information of the Corporation, including, but not limited to, all data, compilations, programs, devices, strategies, or methods concerning or related to (i) the Corporation’s finances, financial condition,
results of operations, employee relations, amounts of compensation paid to officers and employees and any other data or information relating to the internal affairs of the Corporation and its operations; (ii) the terms and conditions (including
prices) of sales and offers of sales of the Corporation’s products and services; (iii) the terms, conditions and current status of the Corporation’s agreements and relationship with any customer or supplier; (iv) the customer and
supplier lists and the identities and business preferences of the Corporation’s actual and prospective customers and suppliers or any employee or agent thereof with whom the Corporation communicates; (v) the trade secrets, manufacturing
and operating techniques, price data, costs, methods, systems, plans, procedures, formulas, processes, hardware, software, machines, inventions, designs, drawings, artwork, blueprints, specifications, tools, skills, ideas, and strategic plans
possessed, developed, accumulated or acquired by the Corporation; (vi) any communications between the Corporation, its officers, directors, shareholders, or employees, and any attorney retained by the Corporation for any purpose, or any person
retained or employed by such attorney for the purpose of assisting such attorney in his or her representation of the Corporation; (vii) any other non-public information and knowledge with respect to the Corporation’s products, whether
developed or in any stage of development by the Corporation; (viii) the abilities and specialized training or experience of others who as employees or consultants of the Corporation during the Executive’s employment have engaged in the
design or development of any such products; and (ix) any other matter or thing, whether or not recorded on any medium, (a) by which the Corporation derives actual or potential economic value from such matter or thing being not generally
known to other persons or entities who might obtain economic value from its disclosure or use, or (b) which gives the Corporation an opportunity to obtain an advantage over its competitors who do not know or use the same. 
 11.2 Executive acknowledges and agrees that the Corporation is engaged in a highly competitive business and has expended, or will expend, significant
sums of money and has invested, or will invest, a substantial amount of time to develop and maintain the secrecy of the Confidential Information. The Corporation has thus obtained, or will obtain, a valuable economic asset which has enabled, or will
enable, it to develop an extensive reputation and to establish long-term business relationships with its suppliers and customers. If such Confidential Information were disclosed to another person or entity or used for the benefit of anyone other
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Accordingly, Executive acknowledges and agrees that, unless the Confidential Information was (a) in the public domain or becomes publicly known through
legitimate origins not involving an act or omission by Executive, (b) was in Executive’s possession free of any obligation of confidence at or subsequent to the time such Confidential Information was communicated to Executive; (c) was
developed by Executive prior to the date of this Agreement or after the expiration of the term of this Agreement independently of and without reference to any Confidential Information; (c) was known to Executive at the time of disclosure; or
(v) was approved for release by written authorization of the Corporation, then: 
 (i) the Confidential Information is, and at all
times hereafter shall remain, the sole property of the Corporation; 
 (ii) Executive shall use his best efforts and the utmost diligence to
guard and protect the Confidential Information from disclosure to any competitor, customer or supplier of the Corporation or any other person, firm, corporation or other entity; and 
 (iii) unless the Corporation gives Executive prior express written permission, during his employment and thereafter, Executive shall not use for his own
benefit, or divulge to any competitor or customer or any other person, firm, corporation, or other entity, any of the Confidential Information which Executive may obtain, learn about, develop or be entrusted with as a result of Executive’s
employment by the Corporation. 
 11.3 Executive also acknowledges and agrees that all documentary and tangible Confidential Information
including, without limitation, such Confidential Information as Executive has committed to memory, is supplied or made available by the Corporation to the Executive solely to assist him in performing his services under this Agreement. Executive
further agrees that after his employment with the Corporation is terminated for any reason: 
 (i) Executive shall not remove from the
property of the Corporation and shall immediately return to the Corporation, all documentary or tangible Confidential Information in his possession, custody, or control and not make or keep any copies, notes, abstracts, summaries or other record of
any type of Confidential Information; and 
 (ii) Executive shall immediately return to the Corporation any and all other property of the
Corporation in his possession, custody or control, including, without limitation, any and all keys, security cards, passes, credit cards and marketing literature. 
 12. Invention Disclosure. Executive agrees to disclose to the Corporation promptly and fully all ideas, inventions, discoveries, developments or improvements (“Inventions”) that may be made,
conceived, created or developed by him (whether such Inventions are developed solely by him or jointly with others) during his employment by the Corporation which either (i) in any way is connected with or related to the actual or contemplated
business, work, research or undertakings of the Corporation or (ii) results from or is suggested by any task, project or work that he may do for, in connection with, or on behalf of the Corporation. Notwithstanding the foregoing, this
Section 11 shall not apply to any Inventions that meet all of the following requirements: (a) do not relate, at the time of conception, reduction to practice, creation, derivation, development or making of such Invention to the
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demonstrably anticipated research, development or business; and (b) were developed entirely on Executive’s own time; and (c) were developed
without use of any of the Corporation’s equipment, supplies, facilities or trade secret information; and (d) did not result from any work Executive performed for the Corporation. Executive agrees that such Inventions shall become the sole
and exclusive property of the Corporation and Executive hereby assigns to the Corporation all of his rights to any such Inventions. With respect to Inventions, Executive shall during the period of his employment hereunder and at any time and from
time to time hereafter (a) execute all documents requested by the Corporation for vesting in the Corporation the entire right, title and interest in and to the same, (b) execute all documents requested by the Corporation for filing and
prosecuting such applications for patents, trademarks and/or copyrights as the Corporation, in its sole discretion, may desire to prosecute, and (c) give the Corporation all assistance it reasonably requires, including the giving of testimony
in any suit, action or proceeding, in order to obtain, maintain and protect the Corporation’s right therein and thereto. If any such assistance is required following the termination of Executive’s employment with the Corporation, the
Corporation shall reimburse Executive for his lost wages or salary and the reasonable expenses incurred by him in rendering such assistance. 
 13. Remedies. Executive acknowledges and agrees that the business of the Corporation is highly competitive and that the provisions of Paragraphs 10, 11 and 12 are reasonable and necessary for the protection of the Corporation and
that any violation of such covenants would cause immediate, immeasurable and irreparable harm, loss and damage to the Corporation not adequately compensable by a monetary award. Accordingly, the Executive agrees, without limiting any of the other
remedies available to the Corporation, that any violation of said covenants, or any one of them, may be enjoined or restrained by any court of competent jurisdiction, and that any temporary restraining order or emergency, preliminary or final
injunctions may be issued by any court of competent jurisdiction, without notice and without bond. 
 14. Attorneys’ Fees and
Costs. In any action between the parties based on this Agreement, the prevailing party shall be entitled to recovery of reasonable attorneys’ fees and out-of-pocket costs incurred by it/him in the action. 
 15. Entire Agreement. This Agreement constitutes the entire agreement of the parties hereto with respect to the matters set forth herein and no
amendment or modification hereof shall be valid or binding unless made in writing and signed by both parties hereto. 
 16. Notices.
Any notice, required, permitted or desired to be given pursuant to any of the provisions of this Agreement shall be deemed to have been sufficiently given or served for all purposes if delivered in person or sent by certified mail, return receipt
requested, postage and fees prepaid as follows: 
 if to the Corporation at: 
 ImmunoCellular Therapeutics, Ltd. 
 1999 Avenue of the Stars 
 Los Angeles, CA, 11th Floor 
 Los Angeles, CA 90067 
  

 8 

 with a copy to: 
 TroyGould PC 
 1801 Century Park East, Suite 1600 
 Los Angeles, California 90067 
 Attention: Sanford J. Hillsberg 
 and, if to Executive: 
 Dr. Manish Singh 
 23526 Dolorosa Street 
 Woodland Hills, California 91367 
 Either of the parties hereto may at any time and from time to time change the address to which
notice shall be sent hereunder by notice to the other party given as provided herein. The date of the giving of any notice hereunder shall be the date delivered or if sent by mail, shall be the date of the posting of the mail. 
 17. Non Assignability. Neither this Agreement nor the right to receive any payments hereunder may be assigned by Executive. This Agreement shall
be binding upon Executive and inure to the benefit of his heirs, executors and administrators and be binding upon the Corporation and inure to the benefit of its successors and assigns. 
 18. Choice of Law And Forum. This Agreement shall be governed, interpreted and construed under the laws of the State of California without regard
to its conflict of law principles. In the event of any dispute under this Agreement, such dispute shall be resolved by binding arbitration with JAMS/ENDISPUTE in Los Angeles, California. The arbitrator shall be a retired judge with at least five
years of experience on the bench. This provision shall not be interpreted so as to require arbitration of claims that the state and/or Federal courts of California have ruled may not be the subjects of compelled arbitration in employment matters,
nor shall it be interpreted so as to restrict any remedy, right of appeal or discovery device available to either party in a manner that violates the rulings of the state and/or Federal courts of California with respect to employment-related
arbitration. This provision shall not be interpreted so as to preclude the making of reports to governmental offices, or to preclude either party from seeking injunctive or provisional relief in a court of appropriate jurisdiction under such
circumstances as may merit such relief. 
 19. Waiver. No course of dealing nor any delay on the part of any party in exercising any
rights hereunder shall operate as a waiver of any such rights. No waiver of any default or breach of this Agreement shall be deemed a continuing waiver or a waiver of any other breach or default. 
 20. Severability. If any provision of this Agreement, including any paragraph, sentence, clause or part thereof, shall be deemed contrary to law
or invalid or unenforceable in any respect by a court of competent jurisdiction, the remaining provisions of such paragraph, 

  

 9 

 
sentence, clause or part thereof shall not be affected, but shall, subject to the discretion of such court, remain in full force and effect and any invalid
and unenforceable provisions shall be deemed, without further action on the part of the parties hereto, modified, amended and limited to the extent necessary to render the same valid and enforceable. 
 21. Section 409A. If Executive becomes eligible for payments under this Agreement on account of his “separation from service,”
within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”) and Executive is a “specified employee” within the meaning of Section 409A of the Code, as determined by Corporation, any
portion of the payments that either do not qualify under the “short-term deferral rule” or exceed two times the lesser of (A) Executive’s “annualized compensation” for the calendar year preceding Executive’s
separation from service (in each case, as those terms are defined under Section 409A of the Code), or (B) the maximum amount that may be taken into account under Section 401(a)(17) of the Code for the year in which Executive’s
separation from service occurs, and which are not otherwise exempt from Section 409A of the Code, shall be accrued, without interest, and its payment delayed until the first day of the seventh month following Executive’s separation from
service, or if earlier, Executive’s death, at which point the accrued amount will be paid in a single, lump sum cash payment. Furthermore, Corporation shall not be required to make, and Executive shall not be required to receive, any severance
or other payment or benefit under this Agreement at such time as the making of such payment or the provision of such benefit or the receipt thereof shall result in a tax to Executive arising under Section 409A of the Code. The preceding
provisions, however, shall not be construed as a guarantee by the Corporation of any particular tax effect to Executive under this Agreement. The parties agree that for purposes of Section 409A of the Code, the severance amounts payable under
this Agreement shall be treated as a right to a series of separate payments. This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Code. This Agreement shall be administered, interpreted and construed in a
manner consistent with Section 409A of the Code. The Corporation and Executive agree that they will execute any and all amendments to this Agreement as they mutually agree in good faith may be necessary to ensure compliance with the provisions
of Section 409A of the Code. 
 22. Survival at Termination. The termination of Executive’s employment hereunder shall not
affect his obligations to the Corporation hereunder which by the nature thereof are intended to survive any such termination including, without limitation, Executive’s obligations under Paragraphs 10, 11, 12 and 21. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above set forth. 
  

							
	IMMUNOCELLULAR THERAPEUTICS, LTD.	 		 	EXECUTIVE:
				
	By:	 	 /s/ C. Kirk Peacock
	 		 	 /s/ Manish Singh

		 	C. Kirk Peacock	 		 	Dr. Manish Singh
	Its:	 	President	 		 	

  

 10

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