Document:

EXHIBIT 10.13

 

HARVARD APPARATUS REGENERATIVE TECHNOLOGY,
INC. 

 

2013 EQUITY INCENTIVE PLAN

 

DEFERRED STOCK AWARD AGREEMENT 

  

	Name of Grantee:  	__________________
	 	 
	No. of Restricted Stock Units:  	__________________
	 	 
	Grant Date:  	__________________

 

Pursuant to the Harvard Apparatus Regenerative
Technology, Inc. 2013 Equity Incentive Plan, as amended through the date hereof (the “Plan”), Harvard Apparatus Regenerative
Technology, Inc. (the “Company”) hereby grants the number of Restricted Stock Units (“RSUs”) specified
above (the “Award”) to the Grantee named above, subject to the terms of the Plan and this Award Agreement. The Award
represents a promise to pay to the Grantee one share of Common Stock, par value $0.01 per share (the “Stock”) of the
Company for each RSU, subject to the restrictions and conditions set forth herein and in the Plan.

 

1.    Restrictions.

 

(a)    No Voting
Rights and Dividends. Until such time as the RSUs are paid to the Grantee in shares of Stock, the Grantee shall have no voting
rights and no rights to any dividends or other distributions with respect to the RSUs.

 

(b)    Restrictions
on Transfer. The RSUs granted pursuant to this Agreement may not be sold, assigned, transferred, pledged or otherwise encumbered
or disposed of prior to vesting.

 

2.    Vesting of
Restricted Stock Units.

 

(a)    Form of
Payment. Subject to the Grantee being [_employed by OR a director of_] the Company or its Subsidiaries on each vesting date,
the restrictions and conditions in Paragraph 1 of this Agreement with respect to such RSU shall lapse, and such RSU shall
become payable to the Grantee in the amount of the shares of Stock and on the relevant vesting date specified below:

 

	 	Vesting Date  	 	Cumulative Vesting Amount	 
	 	 	 	 	 
	 	________________	 	________________	 
	 	 	 	 	 
	 	________________	 	________________	 
	 	 	 	 	 
	 	________________	 	________________	 

 

(b)    The Grantee’s
rights to all RSUs granted herein and not yet vested in accordance with the provisions of Paragraph 2(a) shall automatically terminate
upon the Grantee’s [_termination of employment OR ceasing to be a Director_], voluntarily or involuntarily, [_with OR of_]
the Company and its Subsidiaries for any reason (including death).

 

(c)    Notwithstanding
anything to the contrary in this Agreement, to the extent the Grantee is a party to another agreement or arrangement with the Company
that provides accelerated vesting of RSUs or all equity awards in general in the event of certain types of termination, a change
of control of the Company or any other applicable vesting-related events, the accelerated terms of such other agreement or arrangement
shall control.

 

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3.    Receipt of
Stock Upon Vesting. Upon the vesting of the RSUs as provided in Paragraph 2(a), the Grantee shall receive one share of Stock
for each RSU vested. Shares of Stock acquired pursuant to this Award shall be issued and delivered to the Grantee either in actual
stock certificates or by electronic book entry, subject to tax withholding as provided in Paragraph 6 below.

 

4.    Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the terms
and conditions of the Plan, including the powers of the Administrator set forth in the Plan. Capitalized terms in this Agreement
shall have the meaning specified in the Plan, unless a different meaning is specified herein. In the case of any conflict between
the terms of this Agreement and the Plan, the provisions of the Plan shall control.

 

5.    Transferability.
This Agreement is personal to the Grantee, is non-assignable and is not transferable in any manner, by operation of law or otherwise,
other than by will or the laws of descent and distribution.

 

6.    Tax Withholding.
Unless the Grantee elects to satisfy the tax withholding obligation in a timely manner by making the payments or related arrangements
in accordance with Section 14(a) of the Plan (including, without limitation, payments made from such Grantee’s compensation
or other cash payments otherwise due him or her from the Company or by paying the Company directly by a separate check), the tax
withholding obligation shall be satisfied by the Company withholding, from shares of Stock to be issued to the Grantee hereunder,
such number of the Grantee’s shares having an aggregate fair market value equal to the required minimum amount of the tax
withholding then due with respect to such Grantee.

 

7.    Dividend Equivalents.

 

(a)    If on any date
the Company shall pay any cash dividend on shares of Stock of the Company, the number of RSUs credited to the Grantee shall, as
of such date, be increased by an amount determined by the following formula:

 

W = (X multiplied by Y) divided by Z, where:

W = the number of additional RSUs to be credited
to the Grantee on such dividend payment date;

X = the aggregate number of vested RSUs credited
to the Grantee as of the record date of the dividend;

Y = the cash dividend per share amount; and

Z = the Fair Market Value per share of Stock (as
determined under the Plan) on the dividend payment date.

 

(b)    In the case
of a dividend paid on Stock in the form of Stock, including without limitation a distribution of Stock by reason of a stock dividend,
stock split or otherwise, the number of RSUs credited to the Grantee shall be increased by a number equal to the product of (i) the
aggregate number of RSUs that have been awarded to the Grantee through the related dividend record date, and (ii) the number
of shares of Stock (including any fraction thereof) payable as dividend on one share of Stock. Any additional RSUs shall be subject
to the vesting and restrictions of this Agreement in the same manner and for so long as the RSUs granted pursuant to this Agreement
to which they relate remain subject to such vesting and restrictions, and shall be promptly forfeited to the Company if and when
such RSUs are so forfeited.

 

8.    No Obligation
to Continue Employment or Service. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Grantee in employment or other service with the Company or any Subsidiary and neither the Plan nor this
Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment or service of
the Grantee at any time.

 

9.    Notices.
Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or delivered
to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently
furnish to the other party in writing.

 

	 	Harvard Apparatus Regenerative Technology, Inc.
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

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The foregoing Agreement is hereby accepted and the terms and
conditions thereof hereby agreed to by the undersigned.

 

.

	______________________________	 	________________________________
	 	 	 
	Grantee’s Signature	 	Dated

 

Grantee’s name and address:

 

	______________________________	 	 
	 	 	 
	______________________________	 	 
	 	 	 
	______________________________	 	 

 

    	3EXHIBIT 10.14

 

Director Compensation Arrangements

 

Compensation of Non-Employee Directors upon Initial Election
to the Board 

 

Upon the completion of the distribution of our common stock
by Harvard Bioscience to its shareholders (the “Distribution”), all of our non-employee directors will receive a non-qualified
stock option to purchase 25,000 shares of our common stock vesting one year from the date of grant and granted on the eleventh
trading day following the date of the Distribution. Each non-employee that is elected to the our board of directors following the
Distribution is entitled to receive a non-qualified stock option to purchase 25,000 shares of our common stock vesting one year
from the date of grant and granted on the fifth business day following his or her initial election to the board of directors.

 

Annual Compensation of Non-Employee Directors 

 

Each non-employee director also receives an annual retainer
of $30,000 paid in four equal quarterly installments. Each non-employee director is also entitled to receive a non-qualified stock
option to purchase 25,000 shares of our common stock vesting one year from the date of grant and granted on the fifth business
day following our annual meeting of stockholders.

 

Directors who are also our employees will receive no additional
compensation for service as a director.EXHIBIT 10.16

 

patent RIGHTS
ASSIGNMENT

 

THIS PATENT RIGHTS
ASSIGNMENT (“Patent Assignment”) is made, entered into and effective as of this
21st day of December, 2012, by PAOLO MACCHIARINI, an individual, c/o Karolinska Institutet, SE-171, 77 Stockholm,
Sweden, (the “Assignor”) in favor of HARVARD APPARATUS REGENERATIVE TECHNOLOGY, INC., a Delaware
corporation (the “Assignee”).

 

recitals:

 

WHEREAS, the
Assignor has agreed to assign to the Assignee all of its right, title and interest in, and to execute this Patent Assignment to
enable Assignee to acquire all of his rights to certain inventions and the patent application and all divisions, reissues, reexaminations,
substitutions, continuations, continuations-in-part, foreign counterparts and extensions of the patent applications listed on Schedule
1 (collectively, the “Assigned Patent Rights”).

 

NOW, THEREFORE,
in consideration of the foregoing and the respective representations, warranties, covenants, agreements and conditions set forth
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending
to be legally bound hereby, each party hereto hereby agrees as follows:

 

1.          Assignment.
The Assignor hereby irrevocably conveys, transfers and assigns to the Assignee, and the Assignee hereby accepts, all Assignor’s
legal and beneficial right, title and interest, if any, of the Assignor in and to the Assigned Patent Rights, and the inventions
claimed therein, to hold unto Assignee absolutely and in perpetuity (or for the longest period of time
otherwise permitted by law), together with all related common-law rights associated therewith and any and all royalties, fees,
income, payments and other proceeds now or hereafter due or payable with respect thereto and all causes of action and rights to
sue, seek injunctive relief, and recover (for the sole use and benefit of the Assignee and its successors, assigns or other legal
representatives) damages for past, present and future infringement, misappropriation or other violation thereof or damage thereto.
The Assignee is to hold all right, title and interest in and to the Assigned Patent Rights as fully as it would have been held
and enjoyed by the Assignor, to the end of the term or terms for which said Patent is or may be granted, reissued, renewed, restored,
amended, converted, or extended, had the assignment in this Section 1 not been made.

 

2.          Authorization.
The Assignor authorizes and requests the United States Patent and Trademark Office and the equivalent office in each country or
international entity in which Assigned Patent Rights is registered to record the Assignee as the assignee of the rights of Assignor
in the Assigned Patent Rights and to issue any patents which may be granted on any applications included in the Assigned Patent
Rights to the Assignee as assignee of the entire right, title and interest therein and thereto.

 

    	 

    	 

    

 

3.          Further
Assurances. Each party hereto shall, from time to time and at all times hereafter, upon the request of the other party
hereto, do, execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered all such further acts, deeds,
assignments, transfers, conveyances, powers of attorney and assurances as may be required to carry out the intent of this Patent
Assignment. Without limiting the foregoing, the Assignor agrees, without additional consideration, to take such further actions
and to execute any powers of attorney, applications, assignments, declarations, affidavits and other papers necessary or desirable
to transfer, vest, record and perfect good, valid and marketable title in the Assigned Patent Rights to the Assignee.

 

4.          Entire
Agreement. This Patent Assignment contains the entire agreement of the parties with regard to the subject matter hereof;
provided, however, that this provision is not intended to abrogate any other written agreement between the parties
executed with or after this Patent Assignment.

 

5.          Successors
and Assigns. This Patent Assignment shall be binding upon each party hereto and its respective successors and assigns.

 

6.          Governing
Law. This Patent Assignment shall be governed by and construed in accordance with the Laws of the State of Delaware without
giving effect to any Law or rule that would cause the Laws of any jurisdiction other than the State of Delaware to be applied.

 

7.          Counterparts.
This Patent Assignment may be executed in multiple counterparts, each of which shall for all purposes
be deemed to be an original and all of which, when taken together, shall constitute one and the same instrument. Signatures of
the parties transmitted by electronic transmission shall be deemed to be their original signatures for all purposes.

 

(Signature on following
page)

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Patent Assignment to be duly executed effective as of the date first above written.

 

	 	“ASSIGNOR”:
	 	 
	 	PAOLO MACCHIARINI
	 	 
	 	/s/ Paolo Macchiarini
	 	 
	 	“ASSIGNEE”:
	 	 
	 	HARVARD APPARATUS REGENERATIVE TECHNOLOGY, INC.
	 	 
	 	By:	/s/ David Green
	 	     David Green, President and CEO

 

    	 

    	 

    

 

Schedule
1

 

assigned
Patent APPLICATION

 

	Country	 	Application Number	 	Status	 	Filing Date
	 	 	 	 	 	 	 
	United States	 	61/505,096	 	Provisional	 	July 6, 2011
	 	 	 	 	 	 	 
	United States	 	13/542,218	 	Pending	 	July 5, 2012
	 	 	 	 	 	 	 
	United States	 	13/542,202	 	Pending	 	July 5, 2012
	 	 	 	 	 	 	 
	PCT	 	PCT/IB2012/001696	 	Pending	 	July 6, 2012

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