Document:

Blueprint

 

EXHIBIT 4(c)

 

CEL-SCI CORPORATION

2016 NON-QUALIFIED STOCK OPTION PLAN

 

 

l.          Purpose.
This Non-Qualified Stock Option Plan (the "Plan") is intended to
advance the interests of CEL-SCI Corporation (the
“Company”) and its shareholders, by encouraging and
enabling selected officers, directors, consultants and key
employees upon whose judgment, initiative and effort the Company is
largely dependent for the successful conduct of its business, to
acquire and retain a proprietary interest in the Company by
ownership of its stock. Options granted under the Plan are intended
to be Options which do not meet the requirements of Section 422 of
the Internal Revenue Code of 1954, as amended (the
"Code").

 

2.          Definitions.

 

(a)          "Board"
means the Board of Directors of the Company.

 

(b)          "Committee"
means the directors duly appointed to administer the
Plan.

 

(c)          "Common
Stock" means the Company's Common Stock.

 

(d)          "Date
of Grant" means the date on which an Option is granted under the
Plan.

 

(e)          "Option"
means an Option granted under the Plan.

 

(f)          "Optionee"
means a person to whom an Option, which has not expired, has been
granted under the Plan.

 

(g)          "Successor"
means the legal representative of the estate of a deceased optionee
or the person or persons who acquire the right to exercise an
Option by bequest or inheritance or by reason of the death of any
Optionee.

 

3.          Administration
of Plan. The Plan shall be administered by the Company's
Board of Directors or in the alternative, by a committee of two or
more directors appointed by the Board (the "Committee"). If a
Committee should be appointed, the Committee shall report all
action taken by it to the Board. The Committee shall have full and
final authority in its discretion, subject to the provisions of the
Plan, to determine the individuals to whom and the time or times at
which Options shall be granted and the number of shares and
purchase price of Common Stock covered by each Option; to construe
and interpret the Plan; to determine the terms and provisions of
the respective Option agreements, which need not be identical,
including, but without limitation, terms covering the payment of
the Option Price; and to make all other determinations and take all
other actions deemed necessary or advisable for the proper
administration of the Plan. All such actions and determinations
shall be conclusively binding for all purposes and upon all
persons.

 

 

1

 

 

4.          Common
Stock Subject to Options. The aggregate number of shares of
the Company's Common Stock which may be issued upon the exercise of
Options granted under the Plan shall not exceed 2,000,000. The
shares of Common Stock to be issued upon the exercise of Options
may be authorized but unissued shares, shares issued and reacquired
by the Company or shares bought on the market for the purposes of
the Plan. In the event any Option shall, for any reason, terminate
or expire or be surrendered without having been exercised in full,
the shares subject to such Option but not purchased thereunder
shall again be available for Options to be granted under the
Plan.

 

5.          Participants.
Options may be granted under the Plan to employees, directors and
officers, and consultants or advisors to the Company (or the
Company’s subsidiaries), provided however that bona fide
services shall be rendered by such consultants or advisors and such
services must not be in connection with the offer or sale of
securities in a capital-raising transaction.

 

6.          Terms
and Conditions of Options. Any Option granted under the Plan
shall be evidenced by an agreement executed by the Company and the
recipient and shall contain such terms and be in such form as the
Committee may from time to time approve, subject to the following
limitations and conditions:

 

(a)          Option
Price. The Option Price per share with respect to each
Option shall be determined by the Committee.

 

(b)          Period
of Option. The period during which each option may be
exercised, and the expiration date of each Option shall be fixed by
the Committee, but, notwithstanding any provision of the Plan to
the contrary, such expiration date shall not be more than ten years
from the date of Grant.

 

(c)          Vesting
of Shareholder Rights. Neither an Optionee nor his successor
shall have any rights as a shareholder of the Company until the
certificates evidencing the shares purchased are properly delivered
to such Optionee or his successor.

 

(d)          Exercise
of Option. Each Option shall be exercisable from time to
time during a period (or periods) determined by the Committee and
ending upon the expiration or termination of the Option; provided,
however, the Committee may, by the provisions of any Option
Agreement, limit the number of shares purchaseable thereunder in
any period or periods of time during which the Option is
exercisable.

 

(e)          Nontransferability
of Option. No Option shall be transferable or assignable by
an Optionee, otherwise than by will or the laws of descent and
distribution and each Option shall be exercisable, during the
Optionee's lifetime, only by him. No Option shall be pledged or
hypothecated in any way and no Option shall be subject to
execution, attachment, or similar process except with the express
consent of the Committee.

 

(f)          Death
of Optionee. In the event of the death of an Optionee, an
option theretofore granted to the Optionee shall be exercisable
only (i) by the person or persons to whom the Optionee’s
rights under the option shall pass by the Optionee’s will or
by the laws of descent and distribution; and (ii) if and only to
the extent that the Optionee was entitled to exercise the option at
the date of death.

 

 

2

 

 

7.          Reclassification,
Consolidation, or Merger. If and to the extent that the
number of issued shares of Common Stock of the Corporation shall be
increased or reduced by change in par value, split up,
reclassification, distribution of a dividend payable in stock, or
the like, the number of shares subject to Option and the Option
price per share shall be proportionately adjusted by the Committee,
whose determination shall be conclusive. If the Corporation is
reorganized or consolidated or merged with another corporation, an
Optionee granted an Option hereunder shall be entitled to receive
Options covering shares of such reorganized, consolidated, or
merged company in the same proportion, at an equivalent price, and
subject to the same conditions. The new Option or assumption of the
old Option shall not give Optionee additional benefits which he did
not have under the old Option, or deprive him of benefits which he
had under the old Option.

 

8.          Restrictions
on Issuing Shares. The exercise of each Option shall be
subject to the condition that if at any time the Company shall
determine in its discretion that the satisfaction of withholding
tax or other withholding liabilities, or that the listing,
registration, or qualification of any shares otherwise deliverable
upon such exercise upon any securities exchange or under any state
or federal law, or that the consent or approval of any regulatory
body, is necessary or desirable as a condition of, or in connection
with, such exercise or the delivery or purchase of shares purchased
thereto, then in any such event, such exercise shall not be
effective unless such withholding, listing, registration,
qualification, consent, or approval shall have been effected or
obtained free of any conditions not acceptable to the
Company.

 

Unless
the shares of stock covered by the Plan have been registered with
the Securities and Exchange Commission pursuant to Section 5 of the
Securities Act of l933, each optionee shall, by accepting an
option, represent and agree, for himself and his transferrees by
will or the laws of descent and distribution, that all shares of
stock purchased upon the exercise of the option will be acquired
for investment and not for resale or distribution. Upon such
exercise of any portion of an option, the person entitled to
exercise the same shall, upon request of the Company, furnish
evidence satisfactory to the Company (including a written and
signed representation) to the effect that the shares of stock are
being acquired in good faith for investment and not for resale or
distribution. Furthermore, the Company may, if it deems
appropriate, affix a legend to certificates representing shares of
stock purchased upon exercise of options indicating that such
shares have not been registered with the Securities and Exchange
Commission and may so notify the Company's transfer agent. Such
shares may be disposed of by an optionee in the following manner
only: (l) pursuant to an effective registration statement covering
such resale or reoffer, (2) pursuant to an applicable exemption
from registration as indicated in a written opinion of counsel
acceptable to the Company, or (3) in a transaction that meets all
the requirements of Rule l44 of the Securities and Exchange
Commission. If shares of stock covered by the Plan have been
registered with the Securities and Exchange Commission, no such
restrictions on resale shall apply, except in the case of optionees
who are directors, officers, or principal shareholders of the
Company. Such persons may dispose of shares only by one of the
three aforesaid methods.

 

9.          Use
of Proceeds. The proceeds received by the Company from the
sale of Common Stock pursuant to the exercise of Options granted
under the Plan shall be added to the Company's general funds and
used for general corporate purposes.

 

 

3

 

 

10.          Amendment,
Suspension, and Termination of Plan. The Board of Directors
may alter, suspend, or discontinue the Plan at any
time.

 

Unless
the Plan shall theretofore have been terminated by the Board, the
Plan shall terminate ten years after the adoption of the Plan. No
Option may be granted during any suspension or after the
termination of the Plan. No amendment, suspension, or termination
of the Plan shall, without an Optionee's consent, alter or impair
any of the rights or obligations under any Option theretofore
granted to such Optionee under the Plan.

 

11.          Limitations.
Every right of action by any person receiving options pursuant to
this Plan against any past, present or future member of the Board,
or any officer or employee of the Company arising out of or in
connection with this Plan shall, irrespective of the place where
such action may be brought and irrespective of the place of
residence of any such director, officer or employee cease and be
barred by the expiration of one year from the date of the act or
omission in respect of which such right of action
arises.

 

l2.          Governing
Law. The Plan shall be governed by the laws of the State of
Colorado.

 

13.          Expenses
of Administration. All costs and expenses incurred in the
operation and administration of this Plan shall be borne by the
Company.

 

  

 

4Blueprint

 

EXHIBIT 4(d)

 

CEL-SCI CORPORATION

2016 STOCK BONUS PLAN

 

l.          Purpose.
The purpose of this Stock Bonus Plan is to advance the interests of
CEL-SCI Corporation (the “Company”) and its
shareholders, by encouraging and enabling selected officers,
directors, consultants and key employees upon whose judgment,
initiative and effort the Company is largely dependent for the
successful conduct of its business, to acquire and retain a
proprietary interest in the Company by ownership of its stock, to
keep personnel of experience and ability in the employ of the
Company and to compensate them for their contributions to the
growth and profits of the Company and thereby induce them to
continue to make such contributions in the future.

 

2.          Definitions.

 

A.          "Board"
shall mean the board of directors of the Company.

 

B.          "Committee"
means the directors duly appointed to administer the
Plan.

 

C.          "Plan"
shall mean this Stock Bonus Plan.

 

D.          "Bonus
Share" shall mean the shares of common stock of the Company
reserved pursuant to Section 4 hereof and any such shares issued to
a Recipient pursuant to this Plan.

 

E.          "Recipient"
shall mean any individual rendering services for the Company to
whom shares are granted pursuant to this Plan.

 

3.          Administration
of Plan. The Plan shall be administered by a committee of
two or more directors appointed by the Board (the "Committee"). The
Committee shall report all action taken by it to the Board. The
Committee shall have full and final authority in its discretion,
subject to the provisions of the Plan, to determine the individuals
to whom and the time or times at which Bonus Shares shall be
granted and the number of Bonus Shares; to construe and interpret
the Plan; and to make all other determinations and take all other
actions deemed necessary or advisable for the proper administration
of the Plan. All such actions and determinations shall be
conclusively binding for all purposes and upon all
persons.

 

4.          Bonus
Share Reserve. There shall be established a Bonus Share
Reserve to which shall be credited 2,000,000 shares of the
Company's common stock. In the event that the shares of common
stock of the Company should, as a result of a stock split or stock
dividend or combination of shares or any other change, or exchange
for other securities by reclassification, reorganization, merger,
consolidation, recapitalization or otherwise, be increased or
decreased or changed into or exchanged for, a different number or
kind of shares of stock or other securities of the Company or of
another corporation, the number of shares then remaining in the
Bonus Share Reserve shall be appropriately adjusted to reflect such
action. Upon the grant of shares hereunder, this reserve shall be
reduced by the number of shares so granted. Distributions of Bonus
Shares may, as the Committee shall in its sole discretion
determine, be made from authorized but unissued shares or from
treasury shares. All authorized and unissued shares issued as Bonus
Shares in accordance with the Plan shall be fully paid and
non-assessable and free from preemptive rights.

 

 

1

 

 

5.          Eligibility,
and Granting and Vesting of Bonus Shares. Bonus Shares may
be granted under the Plan to the Company's (or the Company’s
subsidiaries) employees, directors and officers, and consultants or
advisors to the Company (or its subsidiaries), provided however
that bona fide services shall be rendered by such consultants or
advisors and such services must not be in connection with the offer
or sale of securities in a capital-raising
transaction.

 

The
Committee, in its sole discretion, is empowered to grant to an
eligible Participant a number of Bonus Shares as it shall determine
from time to time. Each grant of these Bonus Shares shall become
vested according to a schedule to be established by the Committee
directors at the time of the grant. For purposes of this plan,
vesting shall mean the period during which the recipient must
remain an employee or provide services for the Company. At such
time as the employment of the Recipient ceases, any shares not
fully vested shall be forfeited by the Recipient and shall be
returned to the Bonus Share Reserve. The Committee, in its sole
discretion, may also impose restrictions on the future
transferability of the bonus shares, which restrictions shall be
set forth on the notification to the Recipient of the
grant.

 

The
aggregate number of Bonus Shares which may be granted pursuant to
this Plan shall not exceed the amount available therefore in the
Bonus Share Reserve.

 

6.          Form
of Grants. Each grant shall specify the number of Bonus
Shares subject thereto, subject to the provisions of Section 5
hereof.

 

At the
time of making any grant, the Committee shall advise the Recipient
by delivery of written notice, in the form of Exhibit A hereto
annexed.

 

7.          Recipients'
Representations.

 

A.          The
Committee may require that, in acquiring any Bonus Shares, the
Recipient agree with, and represent to, the Company that the
Recipient is acquiring such Bonus Shares for the purpose of
investment and with no present intention to transfer, sell or
otherwise dispose of shares except such distribution by a legal
representative as shall be required by will or the laws of any
jurisdiction in winding-up the estate of any Recipient. Such shares
shall be transferable thereafter only if the proposed transfer
shall be permissible pursuant to the Plan and if, in the opinion of
counsel (who shall be satisfactory to the Committee), such transfer
shall at such time be in compliance with applicable securities
laws.

 

B.          To
effectuate Paragraph A above, the Recipient shall deliver to the
Committee, in duplicate, an agreement in writing, signed by the
Recipient, in form and substance as set forth in Exhibit B hereto
annexed, and the Committee shall forthwith acknowledge its receipt
thereof.

 

 

 

2

 

 

8.          Restrictions
Upon Issuance.

 

   A.           Bonus
Shares shall forthwith after the making of any representations
required by Section 6 hereof, or if no representations are required
then within thirty (30) days of the date of grant, be duly issued
and transferred and a certificate or certificates for such shares
shall be issued in the Recipient's name. The Recipient shall
thereupon be a shareholder with respect to all the shares
represented by such certificate or certificates, shall have all the
rights of a shareholder with respect to all such shares, including
the right to vote such shares and to receive all dividends and
other distributions (subject to the provisions of Section 7(B)
hereof) paid with respect to such shares. Certificates of stock
representing Bonus Shares shall be imprinted with a legend to the
effect that the shares represented thereby are subject to the
provisions of this Agreement, and to the vesting and transfer
limitations established by the Committee, and each transfer agent
for the common stock shall be instructed to like effect with
respect of such shares.

 

B.          In
the event that, as the result of a stock split or stock dividend or
combination of shares or any other change, or exchange for other
securities, by reclassification, reorganization, merger,
consolidation, recapitalization or otherwise, the Recipient shall,
as owner of the Bonus Shares subject to restrictions hereunder, be
entitled to new or additional or different shares of stock or
securities, the certificate or certificates for, or other evidences
of, such new or additional or different shares or securities,
together with a stock power or other instrument of transfer
appropriately endorsed, shall also be imprinted with a legend as
provided in Section 7(A), and all provisions of the Plan relating
to restrictions herein set forth shall thereupon be applicable to
such new or additional or different shares or securities to the
extent applicable to the shares with respect to which they were
distributed.

 

C.          The
grant of any Bonus Shares shall be subject to the condition that if
at any time the Company shall determine in its discretion that the
satisfaction of withholding tax or other withholding liabilities,
or that the listing, registration, or qualification of any Bonus
Shares upon such exercise upon any securities exchange or under any
state or federal law, or that the consent or approval of any
regulatory body, is necessary or desirable as a condition of, or in
connection with, the issuance of any Bonus Shares, then in any such
event, such exercise shall not be effective unless such
withholding, listing, registration, qualification, consent, or
approval shall have been effected or obtained free of any
conditions not acceptable to the Company.

 

D.          Unless
the Bonus Shares covered by the Plan have been registered with the
Securities and Exchange Commission pursuant to Section 5 of the
Securities Act of l933, each Recipient shall, by accepting a Bonus
Share, represent and agree, for himself and his transferees by will
or the laws of descent and distribution, that all Bonus Shares were
acquired for investment and not for resale or distribution. The
person entitled to receive Bonus Shares shall, upon request of the
Committee, furnish evidence satisfactory to the Committee
(including a written and signed representation) to the effect that
the shares of stock are being acquired in good faith for investment
and not for resale or distribution. Furthermore, the Committee may,
if it deems appropriate, affix a legend to certificates
representing Bonus Shares indicating that such Bonus Shares have
not been registered with the Securities and Exchange Commission and
may so notify the Company's transfer agent. Such shares may be
disposed of by a Recipient in the following manner only: (l)
pursuant to an effective registration statement covering such
resale or reoffer, (2) pursuant to an applicable exemption from
registration as indicated in a written opinion of counsel
acceptable to the Company, or (3) in a transaction that meets all
the requirements of Rule l44 of the Securities and Exchange
Commission. If Bonus Shares covered by the Plan have been
registered with the Securities and Exchange Commission, no such
restrictions on resale shall apply, except in the case of
Recipients who are directors, officers, or principal shareholders
of the Company. Such persons may dispose of shares only by one of
the three aforesaid methods.

 

 

3

 

 

9.          Limitations.
Neither the action of the Company in establishing the Plan, nor any
action taken by it nor by the Committee under the Plan, nor any
provision of the Plan, shall be construed as giving to any person
the right to be retained in the employ of the Company.

 

Every
right of action by any person receiving shares of common stock
pursuant to this Plan against any past, present or future member of
the Board, or any officer or employee of the Company arising out of
or in connection with this Plan shall, irrespective of the place
where action may be brought and irrespective of the place of
residence of any such director, officer or employee cease and be
barred by the expiration of one year from the date of the act or
omission in respect of which such right of action
arises.

 

10.          Amendment,
Suspension or Termination of the Plan. The Board of
Directors may alter, suspend, or discontinue the Plan at any
time.

 

Unless
the Plan shall theretofore have been terminated by the Board, the
Plan shall terminate ten years after the adoption of the Plan. No
Bonus Share may be granted during any suspension or after the
termination of the Plan. No amendment, suspension, or termination
of the Plan shall, without a recipient's consent, alter or impair
any of the rights or obligations under any Bonus Share theretofore
granted to such recipient under the Plan.

 

11.          Governing
Law. The Plan shall be governed by the laws of the State of
Colorado.

 

12.          Expenses
of Administration. All costs and expenses incurred in the
operation and administration of this Plan shall be borne by the
Company.

 

 

 

4

 

 

-
EXHIBIT A -

 

CEL-SCI
CORPORATION

STOCK
BONUS PLAN

 

TO:
Recipient:

 

PLEASE
BE ADVISED that CEL-SCI Corporation has on the date hereof granted
to the Recipient the number of Bonus Shares as set forth under and
pursuant to the Stock Bonus Plan. Before these shares are to be
issued, the Recipient must deliver to the Committee that
administers the Stock Bonus Plan an agreement in duplicate, in the
form as Exhibit B hereto. The Bonus Shares are issued subject to
the following vesting and transfer limitations.

 

	
 Vesting:

	
 

	
 

	
 

	
 Number of Shares

	
 Date of Vesting

	
 

	
 

	
 

	
 

	
 Transfer
Limitations:

	
 

	
 

	
 

	
 

	
 

	
 

	
 CEL-SCI
CORPORATION

	
 

	
 

	
 _____________________________

	
 By
______________________________-

	

                       
Date

	
   

 

                                                                          

 

5

 

 

- EXHIBIT B -

 

 

CEL-SCI
Corporation

8229
Boone Blvd. #802

Vienna,
VA 22182

 

 

I
represent and agree that said Bonus Shares are being acquired by me
for investment and that I have no present intention to transfer,
sell or otherwise dispose of such shares, except as permitted
pursuant to the Plan and in compliance with applicable securities
laws, and agree further that said shares are being acquired by me
in accordance with and subject to the terms, provisions and
conditions of said Plan, to all of which I hereby expressly assent.
These agreements shall bind and inure to the benefit of my heirs,
legal representatives, successors and assigns.

 

My
address of record is:

 

 

and my
social security number: ________________________.

 

Very
truly yours,

 

 

 

Receipt
of the above is hereby acknowledged.

 

 

	

 

	
CEL-SCI
CORPORATION

	

 

	

 

	

 

	

 

	

 

	

___________________________
	
By:  

	
 

	

 

	

                   
Date

	

its

	
 

	

 

	

 

	

 

	

 

	

 

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00263-of-00352.parquet"}]]