Document:

Exhibit 10.1

 

 

MARKER THERAPEUTICS, INC.

 

CONSULTING SERVICES AGREEMENT

 

This Consulting Services
Agreement (“Agreement”) is hereby made and entered into this 19th day of October, 2018 (“Effective Date”)
by and between Marker Therapeutics, Inc., a Delaware corporation, having an address at 3200 Southwest Freeway, Suite 2240, Houston,
Texas 77027 and its subsidiaries (“Marker” or the “Company”), and Juan F. Vera, having an address at 2727
Drexel Drive, Houston, Texas 77027 (“Consultant”). Marker and Consultant are referred to herein collectively as the
“Parties” and individually as a “Party.”

 

WITNESSETH:

 

WHEREAS, Marker
is in need of consulting assistance in the area of a Chief Development Officer;

 

WHEREAS, Consultant
has represented that Consultant is qualified to perform and possesses the knowledge to perform those certain services set forth
in this Agreement; and

 

WHEREAS, Marker
desires to engage Consultant as an independent contractor to perform those services set forth herein, and Consultant desires to
accept such engagement.

 

NOW, THEREFORE,
in consideration of the above recitals, which are incorporated herein as covenants, the mutual promises herein made and exchanged
and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

		1.	Engagement. Marker hereby engages Consultant as an independent contractor to perform consulting
services set forth in this Agreement and in Schedule 1, Consulting Services, which is attached hereto and incorporated
herein by reference (collectively, the “Services” or “Consulting Services”). Consultant hereby accepts
such engagement under the terms set forth herein.

 

		2.	Compensation. Marker shall pay Consultant pursuant to the terms of Schedule 2, Compensation,
attached hereto. Consultant shall be entitled to reimbursement for reasonable expenses, including travel provided that Consultant
submits itemized statements of such expenses in a form acceptable to the Company. All travel within the continental U.S. will be
coach class unless otherwise authorized by an executive officer of the Company. Invoices are subject to review and approval by
Marker and if approved, will be paid no later than 30 days after receipt.

 

		3.	Stock Option Award. Upon execution of the Agreement, Marker will grant Consultant pursuant
to the Company’s 2014 Omnibus Stock Ownership Plan, as amended options to acquire up to 500,000 shares of Marker’s
common stock (the “Options”), in accordance with the terms provided the Stock Option Award Agreement attached as Exhibit
A. The Options shall become vested upon the Consultant’s continued performance of Services under this Agreement for four
years from the date of the grant of the Options with 125,000 shares of the Options vesting on the first anniversary of the date
of grant and the remaining options vesting evenly over the following thirty six (36) months. The Options shall be exercisable at
the closing price of Marker’s common stock as of the date of the grant of such Options.

 

    	 	Page 1 of 11	 

     

    

 

		4.	Term and Termination without Cause. The term of this Agreement shall be for twelve (12)
months from the Effective Date and may be renewed by written agreement of the Parties (collectively the “Term”). Either
Party may terminate this Agreement without cause by giving thirty (30) days notice providing written notice to the other Party,
provided that this Agreement shall terminate automatically in the event of the death or disability of Consultant.

 

		5.	Breach, Right to Cure, and Termination for Cause. In the event either Party breaches any
provision of this Agreement, the non-breaching Party may provide written notice of such breach to the breaching Party and the breaching
Party shall have seven (7) days from the date of notice to cure such breach. If such breach is not cured within seven (7) days
from the date of notice, the non-breaching Party may, in addition to any other remedies it may have, immediately terminate this
Agreement by providing written notice to the breaching Party.

 

		6.	Consultant Status. 

 

		6.1	Independent Contractor. Consultant’s relationship with Marker shall be that of an
independent contractor, and Consultant acknowledges and agrees that in performing all Services, Consultant is acting solely as
an independent contractor and not as an employee or agent of Marker and will not by reason of this Agreement or by reason of his
Consulting Services to the Company be entitled to participate in or to receive any benefit or right under any of the Company's
employee benefit or welfare plans. Consultant shall not hold himself out to be an employee or agent of Marker and may use Marker’s
name in his business only with prior written permission by Marker. Except as specifically authorized by the Company, Consultant
shall not enter into any agreements or incur any obligations on behalf of the Company.

 

		6.2	Taxes. Marker shall not be responsible to Consultant or to any governmental agency for the
withholding of federal or state income, social security or other taxes which are customarily imposed upon the salaries of employees.
Consultant acknowledges and agrees that as an independent contractor, Consultant is self-employed and that Consultant alone will
be responsible for federal, state and local taxes, social security withholding, fees, assessments, self-employment taxes, and any
other taxes on any compensation payable to Consultant by Marker under this Agreement (collectively the “Taxes”).

 

		6.3	Best Efforts. It is recognized that Consultant is not obligated to devote all of his time,
energy and skill to the business interests of Marker but, at the same time, Consultant: (i) shall refrain from any other activity
(for himself or any other company) that would compete with or conflict with the activities of Marker related to the generation
and/or commercialization of T cells targeting non-viral tumor-associated antigens and/or cancer testis antigens; (ii) shall not
engage in any other endeavor which would unreasonably interfere with Consultant’s obligations under this Agreement; and (iii)
shall devote such time as may be necessary for the performance of the Services. The Parties acknowledge that Consultant is employed
by Baylor College of Medicine, a Texas non-profit corporation (“Baylor”) and Marker has an exclusive license agreement
with Baylor (the “License Agreement”).

 

    	 	Page 2 of 11	 

     

    

 

		6.4	Non-Solicitation. During the Term of this Agreement and for a period of one (1) year subsequent
to the termination or expiration of this Agreement, Consultant shall not, without the prior written consent of Marker, directly,
indirectly, or through any other party solicit employees of Marker for employment by Consultant.

 

		6.5	Non-Competition. During the Term of this Agreement and for a period of one (1) year subsequent
to the termination or expiration of this Agreement, Consultant shall not, within the United States of America: (i) engage in any
employment, business, or activity or provide services to any third party that is in any way competitive with the business or activities
of Marker related to the generation and/or commercialization of T cells targeting non-viral tumor-associated antigens and/or cancer
testis antigens, or (ii) assist any other person or organization in competing with Marker or engaging in competition with the business
or activities of Marker related to the generation and/or commercialization of T cells targeting non-viral tumor-associated antigens
and/or cancer testis antigens. For the avoidance of doubt business or activities related to the generation and/or commercialization
of T cells targeting neo-epitopes are excluded from this agreement.

 

		7.	Release and Indemnification. Consultant shall be solely liable for any loss or damage to
any person or property caused by the actions or omissions of Consultant. Consultant hereby waives, releases, discharges and indemnifies
Marker and its employees, directors, officers and agents and holds the same harmless from and against, and Consultant assumes full
responsibility for: (i) any and all liabilities, costs, actions, demands or damages whatsoever, including attorneys’ costs
and fees, with respect to or relating to any injury, sickness, harm or damage incurred by the Consultant that is related to this
Agreement or the performance of the Services; (ii) injuries to persons, or damages to property, including theft, related to or
resulting from Consultant’s acts or omissions; (iii) the payment of any Taxes, including any fines, interest or penalties
associated, imposed or required with respect to this Agreement; and (iv) any liabilities, claims, and liens of Consultant.

 

		8.	Confidential Information and Rights to Materials.

 

		8.1	Definitions.

 

    	 	Page 3 of 11	 

     

    

 

		8.1.1	The term “Company Documentation” shall mean notes, memoranda, reports, lists, records,
drawings, sketches, designs, specifications, software programs, books, files, forms, papers, accounts, data, documentation and
other materials of any nature and in any form, whether written, printed or in digital format or otherwise, whether prepared or
paid for by Consultant or anyone else relating to any matter related to the performance of the Services, the scope of the business
of Marker, or Marker’s dealings or affairs.

 

		8.1.2	The term “Confidential Information” shall mean any information concerning the organization,
business or finances of Marker or of any third party which Marker is under an obligation to keep confidential that is maintained
by Marker as confidential. Such Confidential Information shall include, but is not limited to, trade secrets or confidential information
respecting patient or research participant lists, patient records, procedures, business plans and strategies, projects, plans,
proposals, research and development, inventions, products, designs, market research data or analyses, technical information, marketing
activities and procedures, methods, know-how, techniques, systems, processes, credit, financial and other data concerning Marker.
For purposes of this Agreement, Confidential Information shall not include any information: (i) that is publicly available at the
time of disclosure; (ii) that is or becomes generally known to the public through no fault of the Consultant; (iii) that is obtained
without restriction from an independent source having a bona fide right to use and disclose such information, without restriction
as to further use or disclosure; (iv) that Marker approves in advance in writing for unrestricted release; or (v) that is required
to be disclosed by law, provided that written notice of the intent to disclose based on such reason is provided to Marker by Consultant
seven (7) days prior to the scheduled date of disclosure.

 

		8.1.3	The term “Proprietary Rights and Inventions” shall mean any and all rights and materials,
including, but not limited to, patentable or non-patentable inventions, discoveries, concepts, ideas, techniques, methods (excluding
published or standard methods dedicated to the public), apparatus, formulas, trademark and service mark rights, patent rights,
trade secret rights and all other proprietary rights, as well as improvements thereof, generated by, made or conceived by, or arising
out of the efforts of Consultant, either solely or jointly with others, whether patentable or not and whether or not reduced to
practice, while: (i) acting in furtherance of this Agreement, which includes performing the Services; or (ii) utilizing Marker’s
facilities, personnel or materials. Proprietary Rights and Inventions shall be deemed Confidential Information. The Consultant
has informed Marker, in writing, of any and all inventions which he claims as his own or otherwise intends to exclude from this
Agreement because it was developed by him prior to the Effective Date. The Consultant acknowledges that after execution of this
Agreement he shall have no right to exclude any Proprietary Rights and Inventions from this Agreement. Consultant shall make and
maintain adequate and current written records of all Proprietary Rights and Inventions, and shall disclose all Proprietary Rights
and Inventions promptly, fully and in writing to the Company immediately upon development of the same and at any time upon request.

 

    	 	Page 4 of 11	 

     

    

 

		8.2	Nondisclosure. Consultant acknowledges that Marker’s Confidential Information is valuable,
special and a unique asset of Marker, and that Consultant may, whether or not intentionally, gain access to and knowledge of the
Confidential Information during Consultant’s performance under this Agreement. In light of the highly competitive nature
of the industry in which Marker’s business is conducted, Consultant shall not reveal to any person or entity any Confidential
Information, except as authorized by Marker in writing, and shall keep secret all matters entrusted to Consultant and shall not
use or attempt to use any Confidential Information, except as may be required in the course of performing the Services under this
Agreement, nor shall Consultant directly or indirectly use any Confidential Information in any manner that may injure or cause
loss or may be calculated to injure or cause loss to Marker. The obligations of confidentiality and nonuse shall survive for ten
(10) years from the expiration or termination of this Agreement, whichever occurs first. Furthermore, Consultant shall not make,
use or permit to be used any Company Documentation otherwise than for the benefit of Marker, whether during the Term or after the
termination or conclusion of this Agreement. All Company Documentation shall be and remain the sole and exclusive property of Marker.
Immediately upon the termination or conclusion of this Agreement, Consultant shall immediately deliver all Company Documentation
in his possession, and all copies thereof, to Marker.

 

		8.3	Conveyance. Consultant hereby conveys, assigns, transfers and delivers to Marker, and agrees
to convey, assign, transfer and deliver to Marker, all Proprietary Rights and Inventions, as well as Consultant’s right,
title and interest in and to any Proprietary Rights and Inventions, if any. Consultant shall not, at any time or in any manner,
challenge Marker’s ownership of such Proprietary Rights and Inventions. Consultant shall assist Marker or its representatives,
at the expense of Marker, to obtain, maintain and enforce any United States and foreign letters patent for any Proprietary Rights
and Inventions, that Marker may elect and shall execute, acknowledge and confirm in writing the complete ownership by Marker of
the Proprietary Rights and Inventions, as requested by Marker from time to time. Consultant also agrees to execute an unconditional
assignment to Marker of Consultant’s right, title and interest in the Proprietary Rights and Inventions. In the event that
the above provisions requiring Consultant’s execution of an assignment to Marker is found invalid or void, Consultant agrees
that Marker shall have a non-exclusive, royalty-free, perpetual license to make, use, sell or exploit such Proprietary Rights and
Inventions. The Parties acknowledge the work Consultant performs for Baylor is subject to obligations Consultant has to Baylor,
including as to work done at Baylor that would be part of the License Agreement.

 

    	 	Page 5 of 11	 

     

    

 

		8.4	Remedies. Consultant acknowledges and agrees that Marker’s remedy at law for a breach
or threatened breach of any of the provisions of Section 7 would be inadequate and the breach shall be per se deemed as causing
irreparable harm to Marker. Therefore, in the event of a breach by Consultant of any of the provisions of Section 7, Consultant
agrees that, in addition to any remedy at law available to Marker, including, but not limited to, monetary damages, Marker, without
posting any bond, shall be entitled to obtain, and Consultant agrees not to oppose Marker’s request for equitable relief
in the form of specific performance, temporary restraining order, temporary or permanent injunction, or any other equitable remedy
which may then be available to Marker. Nothing in this Agreement shall be construed as prohibiting Marker from pursuing any other
remedies available to it for such breach or threatened breach.

 

		8.5	Consultants’ Third-Party Confidential Information. During the Term of this Agreement,
Consultant will not improperly disclose to Marker or use in the conduct of the Services any proprietary or confidential information
or trade secrets of any former employer or other third party to which Consultant owes a duty of confidentiality with respect to
same, and that Consultant will not bring onto the premises of Marker any proprietary information belonging to a third party unless
consented to in writing by such third party.

 

		8.6	Return of property. The Consultant agrees that all originals and all copies of materials
containing, representing, evidencing, recording, or constituting any Confidential Information, however and whenever produced (whether
by the Consultant or others), shall be the sole property of the Company.

 

At any time upon request of the
Company, the Consultant shall return promptly any and all Confidential Information, including customer or prospective customer
lists, other customer or prospective customer information or related materials, computer programs, software, electronic data, specifications,
drawings, blueprints, medical devices, samples, reproductions, sketches, notes, notebooks, memoranda, reports, records, proposals,
business plans, or copies of them, other documents or materials, tools, equipment, or other property belonging to the Company or
its customers which the Consultant may then possess or have under his control.

 

The Consultant further agrees that
upon termination of his engagement he shall not take with him any documents or data in any form or of any description containing
or pertaining to Confidential Information or any Inventions.

 

		9.	Binding. This Agreement shall be binding upon the Parties and their respective successors
and permitted assigns.

 

		10.	Modification and Severability. This Agreement may not be modified orally. Modification to
this Agreement may be made from time to time, provided that such modification is in writing, attached as an addendum to this Agreement
and signed by both Parties. In the event any provision of this Agreement or any part thereof is held invalid or unenforceable,
the validity and enforceability of the remaining portions of the Agreement shall not be affected.

    	 	Page 6 of 11	 

     

    

 

		11.	Notice. Any notice, demand, payment, or communication required, permitted, or desired to
be given in relation to this Agreement shall be deemed effectively given when personally delivered; when received by overnight
courier; or five (5) days after being deposited in the United States mail, and sent first class with postage prepaid thereon, certified
and return receipt requested, addressed as follows:

 

	Consultant:	Juan F. Vera
	 	2727 Drexel Drive
	 	Houston, Texas 77027
	 	 
	Marker:	Marker Therapeutics, Inc.
	 	Attention: Chief Executive Officer
	 	3200 Southwest Freeway, Suite 2240
	 	Houston, Texas 77027
	 	 
	With a copy to:	Shumaker, Loop & Kendrick, LLP
	 	Attention: Mark A. Catchur
	 	101 E. Kennedy Boulevard
	 	Suite 2800
	 	Tampa, Florida 33602

 

		12.	Survival. The provisions of Sections 6, 7, 8, and 14 shall survive termination or expiration
of this Agreement.

 

		13.	Force Majeure. In the event Consultant shall be delayed or hindered in or prevented from
the performance of any act required hereunder by reasons of strike, lockouts, labor troubles, inability to procure materials, failure
of power or restrictive government or judicial orders or decrees, riots, insurrection, war, Acts of God, or any other reason or
cause beyond Consultant's reasonable control, then performance of such act shall be excused for the reasonable period of such delay.

 

		14.	Governing Law. This Agreement has been entered into in the State of Texas and shall be governed
by, construed and interpreted in accordance with the laws of the State of Texas without reference to conflict of laws principles
or statutory rules of arbitration included therein. Any dispute and proceeding under this Agreement shall be subject to the exclusive
jurisdiction and venue of the state and federal courts located in Harris County, Texas, and the Parties hereby consent to the exclusive
personal jurisdiction and venue of these courts.

 

		15.	Non-Waiver. The failure of either Party to insist upon the strict performance of any term
of this Agreement shall not constitute a waiver of such term or a waiver of the right to assert a breach thereof. No waiver of
any breach shall alter or affect this Agreement, which shall continue in full force and effect until its expiration or termination.

 

    	 	Page 7 of 11	 

     

    

 

		16.	Enforcement. The prevailing Party shall be entitled to collect from the other Party all
reasonable fees, costs and expenses including attorneys’ fees and costs incurred by the prevailing Party in connection with:
(i) the enforcement of any available remedy for breach of this Agreement; or (ii) any dispute arising from or related to this Agreement
or the relationship between the Parties.

 

		17.	Entire Agreement. This Agreement constitutes the entire understanding between the Parties
and contains all the understandings between the Parties with respect to the subject matter hereof; this Agreement supersedes any
and all other understandings, either oral or written, between the Parties with respect to the subject matter hereto.

 

		18.	Assignment. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns. This Agreement is not intended to confer upon any person other than
the parties hereto any rights or remedies hereunder, except as otherwise expressly herein and shall not be assignable by operation
of law or otherwise.

 

		19.	Protected Health Information. In the event that the Consultant requests or needs protected
health information as defined under the Health Insurance Portability and Accountability Act of 1996 ("HIPAA") in order
to perform the Services, then if permitted by law, Marker shall transfer the protected health information under a separate agreement
(e.g. Business Associate Agreement).

 

		20.	Marker Premises. Consultant will abide by all laws, rules and regulations that apply to
the performance of the Services and, when on Marker’s premises, will comply with Marker’s policies, procedures and
standards with respect to conduct of visitors as made known to Consultant.

 

 

[Signature page to follow]

 

 

 

    	 	Page 8 of 11	 

     

    

 

IN WITNESS WHEREOF, the Parties
have executed this Agreement on the Effective Date.

 

Marker Therapeutics, Inc.

 

 

	By:	/s/Peter Hoang	 
	 	Peter Hoang
	 	Chief Executive Officer

 

 

 

 

	/s/Juan F. Vera	 
	 Juan F. Vera

 

 

 

 

 

    	 	Page 9 of 11	 

     

    

 

SCHEDULE 1

 

CONSULTING SERVICES

 

 

(a)       Scope.
Company hereby retains Consultant, and Consultant hereby agrees to be retained by Company as its Chief Development Officer.

 

(b)       Duties.
During the term of this Agreement, Consultant shall be reasonably available to Marker via e-mail, telephone or in person to Marker
for consulting services as its Chief Development Officer and perform the duties typically assigned to the chief development officer
of a similarly situated company in the Company’s industry. The Consultant shall also perform such other reasonable duties
as may hereafter be requested of him by the Chief Executive Officer, consistent with the services and providing such further services
to the Company as may reasonably be requested of him. Such consulting services as requested from time to time by Marker may include,
but not be limited to, subject matter related to Marker’s technologies under development, ongoing clinical studies, scientific
research and other activities that are within the scope of duties of a Chief Development Officer. The Consultant will report to
the Chief Executive Officer of the Company, and carry out the decisions and otherwise abide by and enforce the rules and policies
of the Company.

 

(c)       Performance
and Time Commitment. The Consultant agrees to be available to render the Consulting Services as requested.

 

(d)       Professional
Standards. The Consultant agrees to devote his best efforts to performing the Consulting Services. The Consultant shall comply
with all rules, procedures and standards promulgated from time to time by the Company with regard to the Consultant's access to
and use of the Company's property, information, equipment and facilities.

 

    	 	Page 10 of 11	 

     

    

 

SCHEDULE
2

 

		COMPENSATION	

 

The Compensation payable to Consultant
shall consist of the following:

 

		1.	Annual Cash Consulting Fee. Marker will pay Consultant a base consulting fee of $350,000.00
in cash per year (“Base Consulting Fee”). The Consultant’s base consulting fee shall be paid in approximately
equal bi-weekly installments in accordance with the Company’s customary payroll practices.

 

		2.	Discretionary Cash Payment. For each calendar year during the term of this Agreement, Consultant
shall be eligible to receive a discretionary cash payment of a maximum of 35% of Consultant’s Base Consulting Fee based on
Consultant’s services and commitment to Marker, prorated for partial years, to be paid within a reasonable time after the
end of the applicable fiscal year of the Company, but in no event later than five days after the completion of the audit for the
prior year it being understood that the Board of Directors of Marker may in its discretion pay such bonus earlier.

 

 

 

 

 

 

    	 	Page 11 of 11Exhibit 10.2

 

	Participant: __________ ______	Consultant

 

	
        Marker Therapeutics, Inc.

        2014 Omnibus Stock Ownership Plan

         

        Stock Option Award Agreement

 

 

 

Dear ____________,

 

Marker Therapeutics, Inc. hereby grants
you stock options to purchase up to ______________ shares of our common stock (the “Stock Options”). These Stock Options
are subject to the terms and conditions set forth in the Company’s 2014 Omnibus Stock Ownership Plan (the “Plan”)
and in the attached Appendix A.

 

	Covered Shares:	____________ shares of common stock, par value $0.001 per share.
	 	 
	Exercise Price:	The purchase price for these shares will be $_______ per share. 
	 	 
	Date of Grant:	The “Date of Grant” for your Stock Options is ___________, 2018.
	 	 
	Vesting Schedule:	You may exercise your Stock Options after they become “vested.” Vesting is subject to your continued performance of services for Marker Therapeutics through the following vesting dates. 

 

	
         

        Vesting Date
	 	
         

        Number of

        Purchasable Shares
	 	
         

        Total Number of

        Purchasable Shares

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

Notwithstanding the foregoing,
the Stock Options will become fully vested upon a “change in control” (as this term is defined in the Plan).

 

	Termination:	Subject to the terms of the Plan, the vested portion of your Stock Options will remain exercisable for 90 days after the date your consulting relationship with the Company terminates.
	 	 

 

    	 	 1 	 

     

    

 

	 	 
	Not ISOs:	These Stock Options are not “incentive stock options” under the federal tax laws.
	 	 
	 	These Stock Options are not intended to be Qualified Performance-based Awards under the terms of the Plan.
	 	 
	Expiration Date:	If not previously exercised or forfeited, the Stock Options expire on ________________, 2028.

 

Your signature below acknowledges your
agreement that the Stock Options granted to you are subject to all of the terms and conditions contained in the Plan and in Appendix
A. PLEASE BE SURE TO READ APPENDIX A, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF YOUR STOCK OPTIONS.

 

Please sign one copy of this Stock Option Agreement (the other
copy is for your files) and return the signed copy to me.

 

	 	 	MARKER THERAPEUTICS,
INC. 
	 	 	 
	_____________________________		

        

	Date	 	Peter Hoang, President & CEO
	
         

        Consultant

         

	_____________________________		

        

	 	 	Date

    	 	 2 	 

     

    

	Participant: __________ ______	Consultant

 

APPENDIX A 

 

Marker Therapeutics, Inc.

2014 Omnibus Stock Ownership Plan

 

Terms and Conditions of Stock Options

 

Pursuant to this Stock
Option Award Agreement, Marker Therapeutics, Inc. (the “Company”) has granted the consultant of the Company named in
the first page of this Award Agreement (the “Consultant”) stock options under the Company’s  2014 Omnibus
Stock Ownership Plan (the “Plan”).  These stock options will give the Consultant a contingent right to purchase
the number of shares of the Company’s Common Stock indicated on the first page of this Award Agreement upon satisfaction
of the vesting requirements and other conditions set forth in this Award Agreement. 

 

The terms and conditions of the Stock Options
are as follows:

 

1. Grant. The
Company has granted the Consultant stock options to purchase the number of shares of the Company’s Common Stock, $0.001 par
value per share (“Common Stock”), specified on the first page of the Award Agreement by reference.

 

All of the terms of
the Plan related to Stock Options are incorporated into this Award Agreement by reference. Defined terms not explicitly defined
in this Award Agreement but defined in the Plan shall have the same definitions as in the Plan.

 

The Stock Options
granted under this Award Agreement are not intended to be Incentive Stock Options covered by Section 422 of the Code.

 

2. Purchase Price.
The price per share to be paid by the Consultant for the shares purchased pursuant to these Stock Options (the “Exercise
Price”) is stated on the first page of the Award Agreement. This Exercise Price shall not be less than the Fair Market Value
of a share of Common Stock as of the Date of Grant (as described on the first page of the Award Agreement).

 

3. Vesting.
The Stock Options shall become vested and exercisable only if the Consultant continues to regularly perform services for the Company
as a consultant through the Vesting Dates set forth in the vesting schedule on the first page of the Award Agreement, and satisfies
any other vesting conditions specified on such first page.

 

4. Stock Options
Non-Transferable. The Stock Options shall not be transferable by the Consultant other than by will or the laws of descent and
distribution. During the lifetime of the Consultant, the Stock Options shall be exercisable only by such Consultant (or by such
Consultant’s guardian or legal representative, should one be appointed).

 

    	 	 A-1 	 

     

    

 

5. Notice of Exercise
of Option. The Stock Options may be exercised by the Consultant by delivery of a written notice signed by the Consultant to
the Company to the attention of the President/Chief Executive Officer or such other officer of the Company as the President/Chief
Executive Officer may designate. Any such notice shall:

 

		(a)	specify the number of shares of Common Stock which the Consultant, then elects to purchase by exercising
the Stock Options,

 

		(b)	contain such information as may be reasonably required pursuant to Section 9 below, and

 

		(c)	be accompanied by payment in full of the Exercise Price for the Stock Options being exercised,
as described in Section 6 below.

 

The Consultant must exercise the Stock
Options for at least 100 shares, or, if less the full number of shares shown as Purchasable Shares in the vesting schedule in the
Notice of Grant as to which the Stock Options remain unexercised.

 

Upon receipt of any
such notice and accompanying payment of the Exercise Price, and subject to the terms hereof, the Company agrees to issue to the
Consultant, stock certificates for the number of shares specified in such notice registered in the name of the person exercising
the Stock Options.

 

6.       
Payment of Exercise Price. Payment of the Exercise Price due upon the exercise of the Stock Options may be made in any one
or in any combination of the following forms:

 

		(a)	in cash ( by a certified or cashier’s check);

 

		(b)	in the form of shares of Common Stock owned by the Consultant having a Fair Market Value equal
to the total Exercise Price at the time of the exercise, accompanied by and duly endorsed or accompanied by stock transfer powers,

 

		(c)	in the form of shares of stock issued to the Consultant (or issuable to the Consultant pursuant
to the exercise of the Stock Options) having a Fair Market Value equal to the total Exercise Price at the time of the exercise,
accompanied by and duly endorsed or accompanied by stock transfer powers, provided that, the acceptance of such shares in
payment of the Exercise Price will not result in adverse accounting consequences to the Company;

 

		(d)	through simultaneous sale through a broker acceptable to the Committee of shares of Common Stock
issuable to the Consultant on exercise, as permitted under Regulation T of the Board of Governors of the Federal Reserve System.

 

7. Issuance of
Stock Certificates for Shares. The stock certificates for any shares of Common Stock issuable to the Consultant upon exercise
of the Stock Options shall be delivered to the Consultant (or to the person to whom the rights of the Consultant shall have passed
by will or the laws of descent and distribution) as promptly after the date of exercise as is feasible, but not before the Consultant
has paid the Exercise Price for such shares.

 

    	 	 2 	 

     

    

 

A legend in the form
set forth below shall be placed on the certificates representing the shares of Common Stock issued upon exercise of the Stock Options:

 

“These securities have
not been registered under the Securities Act of 1933, as amended (the “Act”) or the securities laws of any state. 
They may not be sold, offered for sale, pledged or hypothecated in the absence of a registration statement in effect with respect
to the securities under such Act and any applicable state securities laws, or an opinion of counsel reasonably satisfactory to
Marker Therapeutics, Inc. that such registration is not required.”

 

8. Withholding
Taxes. If the Consultant should be a common law employee of the Company at the time the Stock Options are exercised, or in
the event the Company otherwise determines that payroll tax withholding is otherwise legally required in connection with the exercise
of the Stock Options, the Company shall notify the Consultant of the amount of tax (if any) that must be withheld by the Company
under all applicable federal, state and local tax laws. In such event, the Consultant agrees to make arrangements satisfactory
to the Company to (a) remit the required amount to the Company in cash, (b) authorize the Company to withhold a portion of the
shares of Common Stock otherwise issuable upon exercise of the Stock Options with a value equal to the required amount of tax,
(c) deliver to the Company shares of Common Stock the Consultant already owns with a value equal to the required amount, (d) authorize
the deduction of the required amount of tax from the Consultant’s regular cash compensation from the Company, or (e) otherwise
provide for payment of the required amount in any other manner satisfactory to the Company.

 

9.       
Expiration of Options. If the Stock Options are not exercised with respect to all or any part of the shares subject to the
Stock Options prior to the expiration date specified on the first page of the Award Agreement (which shall be no later than ten
(10) years from the date of grant), the Stock Options shall expire, and any shares with respect to which the Stock Options were
not previously exercised shall no longer be purchasable by exercising the Stock Options.

 

10. Termination
of Consulting Services. In the event of the termination of the Consultant’s consulting services for the Company, other
than a termination that is either (i) for Cause, (ii) voluntarily initiated on the part of the Consultant and without
written consent of the Company,

 

		(a)	the unvested portion of the Stock Options (if any) shall terminate immediately and shall not thereafter
be or become exercisable; and

 

		(b)	the Consultant may exercise the vested portion of the Stock Options at any time within ninety (90) days
after such termination to the extent of the number of shares which had already become vested and purchasable shares under the vesting
schedule described on the first page of this Award Agreement at the date of such termination.

 

    	 	 3 	 

     

    

 

In the event of a termination of the Consultant’s
consulting services that is either (i) for Cause or (ii) voluntarily initiated on the part of the Consultant and without
the written consent of the Company, all of the Stock Options which have not previously been exercised shall terminate immediately
and shall not thereafter be or become exercisable.

 

11. Death of Consultant.
In the event of the Consultant’s death while performing consulting services for the Company or within three months after
termination of such consulting services (if such termination was neither (i) for cause nor (ii) voluntary on the part
of the Consultant and without the written consent of the Company), the Stock Options shall remain in effect and may be exercised
by the Consultant’s executor or administrator, or the Consultant’s heirs to the extent of the number of shares which
had already become vested under the vesting schedule described on the first page of the Award Agreement at the date of death. The
appropriate persons to whom the right to exercise the Stock Options transferred may exercise that portion of the Stock Options
at any time within a period ending on the earlier of (a) the last day of the one year period following the Consultant’s
death or (b) the expiration date of the Stock Options specified on the first page of the Award Agreement.

 

12. Representations
of Consultant. The Consultant represents, warrants, and agrees as follows, and the parties agree that the Company may rely
on the same in consummating the issuance of any shares of the Common Stock to the Consultant pursuant to the Stock Options (the
“Option Shares”):

 

		(a)	No Representations.  The Consultant is entering into this Agreement, and will acquire
the Option Shares, solely on the basis of his own familiarity with the Company and all relevant factors about the Company’s
affairs, and neither the Company nor any agent of the Company has made any express or implied representations, covenants, or warranties
to the Consultant with respect to such matters.

 

		(b)	Investment Purpose.  The Consultant is acquiring the Option Shares for his own account
for investment and not with a view to the resale or distribution of the Option Shares.

 

		(c)	Economic Risk.  The Consultant is willing and able to bear the economic risk of an
investment in the Option Shares (in making this representation, attention has been given to whether the Consultant can afford to
hold the Option Shares for an indefinite period of time and whether, at this time, the Consultant can afford a complete loss of
the investment).

 

13. Compliance
with Securities Laws and Other Regulatory Matters. The Consultant acknowledges that the issuance of capital stock of the Company
is subject to limitations imposed by federal and state law, and the Consultant hereby agrees that the Company shall not be obligated
to issue any shares of Common Stock upon an attempted exercise of this Stock Options that would cause the Company to violate law
or any rule, regulation, order or consent decree of any regulatory authority (including without limitation the SEC) having jurisdiction
over the affairs of the Company. The Consultant agrees that he or she will provide the Company with the representations in Section
12 above, and with such information as is reasonably requested by the Company or its counsel to determine whether the issuance
of Common Stock complies with the provisions described by this Section 13.

 

    	 	 4 	 

     

    

 

14. Rights Prior
to Issuance of Certificates. Neither the Consultant nor any person to whom the rights of the Consultant shall have passed by
will or the laws of descent and distribution shall have any of the rights of a shareholder with respect to any shares of Common
Stock until the date of the issuance to him of certificates for such Common Stock as provided in Section 7 above.

 

15. Covenant Not
to Compete. If the Consultant has not already executed a non-competition agreement with the Company, the Consultant
shall provide the Company with a signed non-competition agreement simultaneously with the execution of the Award Agreement. 
The Consultant’s execution and delivery of such a non-competition agreement in a form reasonably satisfactory to the Company
shall be a condition to the Company’s obligation to issue any shares to the Consultant upon exercise of the Stock Options
granted under this Agreement.  In consideration of the Stock Options, the Consultant agrees that if, at any time during the
period set forth in non-competition agreement, the Consultant should violate the covenants not to compete or the non-solicitation
covenants set forth in the non-competition agreement without the express prior consent of the Company, the Consultant will forfeit
his or her right to receive or retain the shares issued upon the exercise of the Stock Options granted under this Agreement.

 

16. Governing Plan
Document. The Stock Options granted to the Consultant under this Agreement are subject to all the provisions of the Plan (other
than those provisions of the Plan applicable solely to Qualified Performance-based Awards), the provisions of which are hereby
made a part of this Agreement, and are further subject to all interpretations, amendments, rules and regulations, which may from
time to time be promulgated and adopted pursuant to the Plan.  In the event of any conflict between the provisions of this
Agreement and those of the Plan, the provisions of the Plan shall control.

 

17. Miscellaneous.

 

		(a)	This Agreement shall be binding upon the parties hereto and their representatives, successors and
assigns.

 

		(b)	The Consultant acknowledges and agrees that if he should become an executive officer of the Company,
the Stock Options granted under this Agreement may be subject to the Company’s Policy on Recoupment of Executive Incentive
Compensation, as it may be amended from time to time.

 

		(c)	This Agreement shall be governed by the laws of the State of Delaware.

 

		(d)	Any requests or notices to be given hereunder shall be deemed given, and any elections or exercises
to be made or accomplished shall be deemed made or accomplished, upon actual delivery thereof to the designated recipient, or three
days after deposit thereof in the United States mail, registered, return receipt requested and postage prepaid, addressed, if to
the Consultant, at the most recent mailing address provided to the Company in writing, and, if to the Company, to the executive
offices of the Company at 5 West Forsyth Street, Suite 200, Jacksonville, FL 32202, or at such other addresses that the parties
provide to each other in accordance with the foregoing notice requirements.

 

    	 	 5 	 

     

    

 

		(e)	The Consultant hereby explicitly and unambiguously consents to the collection, use and transfer,
in electronic or other form, of the Consultant’s personal data as described in this Award Agreement and any other Stock Option
grant materials by the Company for the exclusive purpose of implementing, administering and managing the Consultant’s participation
in the Plan. The Consultant understands that the Company may hold certain personal information about the Consultant, including,
but not limited to, the Consultant’s name, home address and telephone number, date of birth, social insurance number or other
identification number, salary, nationality, job title, any Shares held in the Company, details of all Stock Options or any other
equity Awards under the Plan awarded, cancelled, exercised, vested, unvested or outstanding in Consultant’s favor (“Data”),
for the exclusive purpose of implementing, administering and managing the Plan. The Consultant further understands that such Data
may be transferred to any stock plan service provider selected by the Company to assist the Company with the implementation, administration
and management of the Plan.

 

		(f)	This Agreement may not be modified except in writing executed by each of the parties to it.

 

		(g)	Neither this Agreement nor the Stock Options confer upon the Consultant any right with respect
to continuance of consulting services for the Company.

 

 

 

    	 	 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]