Document:

Equity Incentive Plan

 THE EXERCISE OF AN OPTION OR THE SALE OF SHARES ACQUIRED UNDER AN OPTION MAY RESULT IN SIGNIFICANT TAX CONSEQUENCES TO
OPTIONEE. OPTIONEE SHOULD SEEK INDEPENDENT TAX AND LEGAL ADVICE BEFORE EXERCISING AN OPTION OR SELLING SHARES. THE COMPANY ASSUMES NO RESPONSIBILITY FOR ADVISING OPTIONEE REGARDING TAX ISSUES RELATING TO THE OPTION, OR SHARES ACQUIRED THEREUNDER, OR
FOR ANY TAX LIABILITY INCURRED BY OPTIONEE IN CONNECTION THEREWITH. 
  
 ACCENTIA BIOPHARMACEUTICALS, INC. 
 2005 EQUITY INCENTIVE PLAN 
 NONQUALIFIED STOCK OPTION 
 AWARD AGREEMENT 
 (automatic director award) 
  
 THIS NONQUALIFIED STOCK OPTION AWARD AGREEMENT (the “Agreement”) is made and entered into as of the
         day of                     , 200_, by and between Accentia Biopharmaceuticals, Inc., a
Florida corporation (the “Company”), and
                                 (“Optionee”), with reference to the
following facts: 
  
 A. WHEREAS, Optionee
currently serves as a member of the Board of Directors of the Company (and the “Board of Directors”) and is not an employee of the Company or any of its subsidiaries; 
  
 B. WHEREAS, pursuant to Section 4(f) of the Company’s 2005 Equity Incentive Plan (the
“Plan”), the Company desires to provide Optionee, and Optionee desires to accept, an option to purchase shares of the Company’s common stock (“Stock”); and 
  
 C. WHEREAS, any option to be granted to Optionee pursuant to this Agreement is being granted in connection
with, and the terms of this Agreement are expressly subject to the terms of, the Plan, a copy of which is attached hereto as Exhibit “A” and incorporated herein by this reference. 
  
 NOW, THEREFORE, in consideration of the foregoing recitals, and of the mutual
terms and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which being hereby acknowledged, the parties hereto do hereby agree as follows: 
  
 1. Certain Defined Terms. To the extent any capitalized
terms used in this Agreement are not defined, they shall have the meaning ascribed to them in the Plan. 
  
 2. Option Granted. The Company hereby grants to Optionee an option (the “Option”) to purchase
                     shares (the “Shares”) of Stock of the Company at an exercise price of
$                    , which is the Fair Market Value of a share of Stock at time of grant, per Share (the “Purchase Price”). The
Option granted pursuant to this Section 2 is intended to be a Nonqualified Stock Option. 

  
 Accentia
Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement 

 3. Time of Exercise of the Option. The Option shall become exercisable by
Optionee, as follows: 
  
 (a)
                     shares on
                    ; 
  
 (b)                     
additional shares on                     ; and 
  
 (c)                     
additional shares on                     . 
  
 Subject to the foregoing, the Option shall be exercisable until termination of the Option as provided in Section 7 below and in the Plan. 
  
 4. Merger and Consolidation; Dissolution. 
  
 4.1 In the event the Company and/or the shareholders of the
Company shall at any time propose to merge into, consolidate with, or sell or otherwise transfer all or substantially all of the Company’s stock or assets to, any other person or entity (a “Transaction”), and provision is not made
pursuant to the terms of the Transaction for the assumption by the surviving, resulting or acquiring person or entity of the Option, or for the substitution of a new option for the Option, the Administrator shall cause written notice of the proposed
Transaction to be given to Optionee not less than twenty (20) days prior to the anticipated effective date of the proposed Transaction. The Option shall accelerate and be exercisable until ten (10) days before the anticipated effective
date specified in the notice from the Administrator. Optionee, by so notifying the Company in writing, may condition the exercise of the Option upon, and provide that each exercise of the Option shall become effective at the time of, but immediately
before, the consummation of the Transaction, in which event Optionee need not make payment for the Shares to be purchased upon exercise of the Option until five (5) days after written notice by the Company to Optionee that the Transaction has
been consummated; provided, however, Optionee shall not be entitled to receive any certificates evidencing his or her ownership of the Shares obtained pursuant to exercise of the Option until Optionee shall make full payment for the Shares
being so purchased. 
  
 If the Transaction is
consummated, any portion of the Option remaining unexercised on the Transaction date specified in the notice to Optionee by the Administrator shall terminate on the date such Transaction is consummated. If the Transaction is abandoned, Shares
subject to any unexercised portion of the Option shall, continue to be available for purchase in accordance with the terms of the Plan and this Agreement. 
  
 4.2 In the event the Company and/or the shareholders of the Company shall at any time propose to enter into a Transaction, and provision
is made pursuant to the terms of the Transaction for the assumption by the surviving, resulting or acquiring person or entity of the Option, or for the substitution of a new option for the Option, on substantially equivalent economic terms, then,
following the consummation of the Transaction, the exercise of the Option by Optionee shall apply to the shares of common stock of the surviving, resulting or acquiring corporation in the Transaction. 
  

 2 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

 4.3 Notwithstanding anything contained herein, the Option shall terminate on the
dissolution or liquidation of the Company. 
  
 5. Method of
Exercise. 
  
 5.1 In
General. The Option shall be exercised by Optionee by written notice delivered to the Company at its principal executive office, stating the number of Shares with respect to which the Option is being exercised and any notice of exercise
shall be accompanied by the following: (i) an executed copy of the Exercise Notice attached hereto as Exhibit “B” and incorporated herein by this reference, and (ii) full payment of the Purchase Price for the number
of Shares with respect to which the Option is so exercised, in any of the forms set forth in Section 5.2 below. 
  
 5.2 Payment. Upon exercise of the Option, payment of the Purchase Price for the number of Shares with respect to which the
Option is so exercised may be in any of the following forms: (i) certified or cashier’s check; (ii) if specifically permitted by the Administrator, shares of the Company’s common stock whose fair market value is at least equal to
the aggregate Purchase Price for the exercise of the portion of the Option so exercised, which shares of the Company’s common stock have been held by Optionee for at least six (6) months prior to the date of exercise of the Option;
(iii) to the extent permitted by the Administrator, any combination of such items; or (iv) such other consideration as the Administrator may approve, so long as the Fair Market Value of such consideration, as determined by the
Administrator in its reasonable discretion, is no less than the Purchase Price due. 
  
 5.3 “Same Day” Net Exercise. In lieu of the payment methods set forth in Section 5.2 above and if permitted
by the Administrator, at any time: (i) that the Company’s common stock is listed on a national stock exchange or quoted on the Nasdaq Stock Market (“Nasdaq”) or other automatic quotation system; and (ii) when permitted by
law and applicable regulations (including the Nasdaq and National Association of Securities Dealers (“NASD”) rules), Optionee may pay the Purchase Price though a “same day sale” commitment from Optionee (and, if applicable, a
broker-dealer that is a member of the NASD (a “NASD Dealer”)), whereby Optionee irrevocably elects to exercise the Option and to sell a sufficient portion of the Shares so purchased to pay the Purchase Price, and Optionee (or, if
applicable, the NASD Dealer) commits upon sale (or, in the case of the NASD Dealer, upon receipt) of such Shares to forward the Purchase Price directly to the Company. 
  
 6. Capital Adjustments. 
  
 6.1 The existence of the Option shall not affect in any way the right or power of the Company or its
shareholders to make or authorize any adjustments, recapitalizations, reorganizations, or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company with or into another person or entity or
any issue of bonds, debentures, preferred or prior preference stocks ahead of or affecting the common stock or the rights thereof, or the issuance of any securities convertible into common stock or of any rights, options, or warrants to purchase
common stock, or the dissolution or liquidation of the Company, any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedings of the Company, whether of a similar character or otherwise. 
  

 3 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

 6.2 The Shares with respect to which the Option is granted are shares of the common stock
of the Company as presently constituted, but if and whenever, prior to the delivery by the Company of all the Shares with respect to which this Option is granted, the Company shall effect a subdivision or consolidation of shares of common stock or
other capital readjustment, the payment of a stock dividend, or other increase or reduction of the number of shares of common stock without receiving compensation therefore in money, services, or property, the remaining Shares subject to the Option
shall: (i) in the event of an increase in the number of outstanding shares of common stock of the Company, be proportionately increased, and the cash consideration payable per Share shall be proportionately reduced; or (ii) in the event of
a reduction in the number of outstanding shares of common stock of the Company, be proportionately reduced, and the cash consideration payable per Share shall be proportionately increased. 
  
 7. Termination of the Option. The Option shall
terminate on the earliest of the following dates: 
  
 7.1 Ninety (90) calendar days after the Optionee ceases to be a director of the Company for any reason, including as a result of the Optionee’s death, disability or retirement; or 
  
 7.2
                    , 20    , which is the date within ten (10) years of grant of this Option, except where
earlier termination is required under the Plan. 
  
 8.
No Rights as a Shareholder. Optionee will not be deemed to be a holder of any shares of common stock pursuant to the exercise of the Option until he/she pays the Purchase Price, in full, and Optionee shall have no rights as a
shareholder in the Company unless and until such time. No adjustment shall be made for dividends or other rights for which the record date is prior to the date the Purchase Price is paid in full. 
  
 9. Lock-Up Period. Optionee hereby agrees that, if so
requested by the Company or any representative of the Company’s underwriters in connection with any registration of the offering of any securities of the Company under the Securities Act of 1933, as amended (the “Securities Act”),
Optionee shall not sell or otherwise transfer any Shares or other securities of the Company during the 180-day period (or such other period as may be requested in writing by any representative of the Company’s underwriters and agreed to in
writing by the Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company filed under the Securities Act. The Company may impose stop-transfer instructions with respect to securities
subject to the foregoing restrictions until the end of such Market Standoff Period. 
  
 10. Restrictions on Transfer and Exercise of Option. 
  
 10.1 The Option shall not be assignable or transferable by the Optionee other than by will or by the laws of descent and distribution
except that the Optionee may, with the consent of the Administrator, transfer, without consideration, Options to the Optionee’s children, stepchildren, grandchildren, parent(s), stepparent(s), grandparent(s), spouse, sibling(s), mother-in-law,
father-in-law, son(s)-in-law, daughter(s)-in-law, brother(s)-in-law or sister(s)-in-law, and 

  

 4 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

 
to person’s with whom the Optionee has an adoptive relationship, (or to one or more trusts for the benefit of any such family members or to one or more
partnerships in which any such family members are the only partners). 
  
 10.2 During Optionee’s lifetime, the Option shall be exercisable only by Optionee. In the event of Optionee’s death while Optionee is a member of the Board of Directors or during the three (3) month
period described in Section 7.1 above, Optionee’s personal representatives may exercise any portion of the Option that remain unexercised at the time of Optionee’s death, provided that any such exercise must in any event be made, if
at all, (a) during the period within twelve (12) months after the last day on which Optionee was a member of the Board of Directors, and (b) before the Option termination date specified in Section 7.3 above. 
  
 11. Sale or Other Disposition. If Optionee at any time
contemplates the disposition (whether by sale, gift, exchange, or other form of transfer) of any Shares acquired by exercise of this Option, he or she shall first notify the Company in writing of such proposed disposition and cooperate with the
Company in complying with all applicable requirements of law, which, in the judgment of the Company, must be satisfied prior to such disposition. 
  
 12. Withholding. At the time of exercise, Optionee shall pay to the Company such amount as the Company deems necessary to satisfy its
obligation to withhold Federal, state or local income or other taxes incurred by reason of the exercise of the Option or the transfer of the Shares, by tendering to the Company a check in the amount of such withholding or, if allowed in the sole
discretion of the Administrator, by electing to: (i) have withheld upon exercise no more than the number of the Shares having a fair market value equal to the minimum amount required to satisfy the Company’s tax withholding obligations; or
(ii) have withheld from any compensation due to Optionee from the Company the minimum amount required to satisfy the Company’s tax withholding obligations. 
  
 13. No Rights to Continue as a Director. Notwithstanding the provisions contained in this Agreement or
the Plan, nothing contained in this Agreement shall provide Optionee with any right to continued membership on the Board of Directors. However, nothing contained in this Agreement or the Plan shall affect the other contractual rights of Optionee.

  
 14. Miscellaneous. 
  
 14.1 Notices. Any and all notices which are
required or permitted to be given by any one party to the other hereunder shall be given in writing, sent by registered or certified mail, electronic communications (including e-mail or facsimile) followed by a confirmation letter sent by registered
or certified mail, postage prepaid, return receipt requested, or delivered by hand or messenger service, with the charges therefore prepaid, addressed to such party as follows: 
  

			
	Notices to the Company:	  	 Accentia Biopharmaceuticals, Inc.
 Attention: General
Counsel
 324 South Hyde Park Ave., Suite 350
 Tampa, Florida
33606
 Fax: 813.258.6912

  

 5 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

			
	Notices to Optionee:	 	_______________________________
	 	 	_______________________________
	 	 	_______________________________

  
 or to such other
address as the parties shall from time to time give notice of in accordance with this Section 14.1. Notices sent in accordance with this Section shall be deemed effective on the date of dispatch, and an affidavit of mailing or dispatch,
executed under penalty of perjury, shall be deemed presumptive evidence of the date of dispatch. 
  
 14.2 Entire Agreement and Modifications. This Agreement, including any and all exhibits hereto, and the agreements expressly
referred to herein, including, without limitation, the Plan, constitutes the entire understanding between the parties pertaining to the subject matter hereof, and supersedes all prior agreements, understandings, negotiations and discussions, whether
oral or written. There are no warranties, representations or other agreements between the parties, in connection with the subject matter hereof, except as specifically set forth herein. No supplement, modification, waiver or termination of this
Agreement shall be binding unless made in writing and executed by the party thereto to be bound. 
  
 14.3 Waivers. No term, condition or provision of this Agreement may be waived except by an express written instrument to
such effect signed by the party to whom the benefit of such term, condition or provision runs. No such waiver of any term, condition or provision of this Agreement shall be deemed a waiver of any other term, condition or provision, irrespective of
similarity, or shall constitute a continuing waiver of the same term, condition or provision, unless otherwise expressly provided. No failure or delay on the part of any party in exercising any right, power or privilege under any term, condition or
provision of this Agreement shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any other right, power or privilege. 
  
 14.4 Applicable Law. This Agreement shall be
governed by and construed in accordance with the internal laws of the State of Florida, notwithstanding the fact that one or more counterparts hereof may be executed outside of the state, or one or more of the obligations of the parties hereunder
are to be performed outside of the state. 
  
 14.5 Attorneys’ Fees. In the event that any party to this Agreement shall commence any suit, action, arbitration or other proceeding to interpret this Agreement, or determine or enforce any right or obligation created
hereby, including, but not limited to, any action for rescission of this Agreement or for a determination that this Agreement is void or ineffective ab initio, the prevailing party in such action shall recover such party’s costs and expenses
incurred in connection therewith, including reasonable attorneys’ fees and costs of appeal, if any. Any court, arbitrator or panel of arbitrators shall, in entering any judgment or making any award in any such suit, action, arbitration or other
proceeding, in addition to any and all other relief awarded to such prevailing party, include in such judgment or award such party’s costs and expenses as provided in this Section 14.5. 
  

 6 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

 14.6 Execution and Counterparts. This Agreement may be executed in any
number of counterparts, each of which when so executed and delivered shall be deemed an original, and such counterparts together shall constitute only one instrument. Any one of such counterparts shall be sufficient for the purpose of proving the
existence and terms of this Agreement, and no party shall be required to produce an original or all of such counterparts in making such proof. 
  
 14.7 Compliance with Laws. Nothing contained in this Agreement shall be construed to require the commission of any act
contrary to law, and whenever there is a conflict between any term, condition or provision of this Agreement and any present or future statute, law, ordinance or regulation contrary to which the parties have no legal right to contract, the latter
shall prevail, but in such event the term, condition or provision of this Agreement affected shall be curtailed and limited only to the extent necessary to bring it within the requirement of the law, provided that such construction is consistent
with the intent of the parties as expressed in this Agreement. 
  
 14.8 Covenant of Further Assurances. All parties to this Agreement shall, upon request, perform any and all acts and execute and deliver any and all certificates, instruments and other documents that may
be necessary or appropriate to carry out any of the terms, conditions and provisions hereof or to carry out the intent of this Agreement. 
  
 14.9 Inconsistencies. In the event of any inconsistency between the terms of this Agreement and the terms of the Plan, the
terms of the Plan shall control. 
  
 IN WITNESS WHEREOF, the
parties hereto have duly executed this Agreement as of the day and year first above written. 
  

									
	“COMPANY”	 	 	 	“OPTIONEE”
			
	 ACCENTIA BIOPHARMACEUTICALS, INC.
	 	 	 	 
					
	By:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 (Signature)

					
	Its:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 (Print Name)

  

 7 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

  
 EXHIBIT “A”

  
 2005 EQUITY INCENTIVE PLAN 
  

 8 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option Agreement

  
 EXHIBIT “B”

  
 EXERCISE NOTICE 
  

 9 
  
 Accentia Biopharmaceuticals, Inc. 
 Non-Employee Director Option AgreementCommon Stock Purchase Warrant

 Exhibit 10.19 
  
 THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO THIS WARRANT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO ACCENTIA BIOPHARMACEUTICALS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED. 
  
 Right to Purchase up to 62,000 shares of Common Stock of Accentia
Biopharmaceuticals, Inc. 
 (subject to adjustment as provided herein) 
  
 COMMON STOCK PURCHASE WARRANT 
  

			
	 No.
                                        
        
	  	Issue Date: February 13, 2006

  
 ACCENTIA
BIOPHARMACEUTICALS, INC., a corporation organized under the laws of the State of Florida (the “Company”), hereby certifies that, for value received, LAURUS MASTER FUND, LTD., or assigns (the “Holder”), is entitled, subject to the
terms set forth below, to purchase from the Company (as defined herein) from and after the Issue Date of this Warrant and at any time or from time to time before 5:00 p.m., New York time, through the close of business February 13, 2016 (the
“Expiration Date”), up to 62,000 fully paid and nonassessable shares of Common Stock, at the applicable Exercise Price per share (as defined below). The number and character of such shares of Common Stock and the applicable Exercise Price
per share are subject to adjustment as provided herein. 
  
 As
used herein the following terms, unless the context otherwise requires, have the following respective meanings: 
  
 (a) The term “Company” shall include Accentia Biopharmaceuticals, Inc. and any person or entity that shall succeed, or assume
the obligations of, Accentia Biopharmaceuticals, Inc. hereunder. 
  
 (b) The term “Common Stock” includes (i) the Company’s Common Stock, par value $0.001 per share; and (ii) any other securities into which or for which any of the securities described in the
preceding clause (i) may be converted or exchanged pursuant to a plan of recapitalization, reorganization, merger, sale of assets or otherwise. 
  
 (c) The term “Other Securities” refers to any stock (other than Common Stock) and other securities of the Company or any other
person (corporate or otherwise) which the holder of the Warrant at any time shall be entitled to receive, or shall have received, on the exercise of the Warrant, in lieu of or in addition to Common Stock, or which at any time shall be issuable or
shall have been issued in exchange for or in replacement of Common Stock or Other Securities pursuant to Section 4 or otherwise. 
  
 Additional Warrant 

 (d) The “Exercise Price” applicable under this Warrant shall be equal to $0.01
per share. 
  
 1. Exercise of Warrant. 
  
 1.1 Number of Shares Issuable upon Exercise. From and after the date
hereof through and including the Expiration Date, the Holder shall be entitled to receive, upon exercise of this Warrant in whole or in part, by delivery of an original or fax copy of an exercise notice in the form attached hereto as Exhibit A (the
“Exercise Notice”), shares of Common Stock of the Company, subject to adjustment pursuant to Section 4. 
  
 1.2 Fair Market Value. For purposes hereof, the “Fair Market Value” of a share of Common Stock as of a particular date (the
“Determination Date”) shall mean: 
  
 (a) If the Company’s Common Stock is traded on the American Stock Exchange or another national exchange or is quoted on the National or SmallCap Market of The Nasdaq Stock Market, Inc. (“Nasdaq”), then the closing or last
sale price, respectively, reported for the last business day immediately preceding the Determination Date. 
  
 (b) If the Company’s Common Stock is not traded on the American Stock Exchange or another national exchange or on the Nasdaq but is
traded on the NASD Over The Counter Bulletin Board, then the mean of the average of the closing bid and asked prices reported for the last business day immediately preceding the Determination Date. 
  
 (c) Except as provided in clause (d) below, if the
Company’s Common Stock is not publicly traded, then as the Holder and the Company agree or in the absence of agreement by arbitration in accordance with the rules then in effect of the American Arbitration Association, before a single
arbitrator to be chosen from a panel of persons qualified by education and training to pass on the matter to be decided. 
  
 (d) If the Determination Date is the date of a liquidation, dissolution or winding up, or any event deemed to be a liquidation,
dissolution or winding up pursuant to the Company’s charter, then all amounts to be payable per share to holders of the Common Stock pursuant to the charter in the event of such liquidation, dissolution or winding up, plus all other amounts to
be payable per share in respect of the Common Stock in liquidation under the charter, assuming for the purposes of this clause (d) that all of the shares of Common Stock then issuable upon exercise of the Warrant are outstanding at the
Determination Date. 
  
 1.3 Company Acknowledgment. The
Company will, at the time of the exercise of this Warrant, upon the request of the holder hereof acknowledge in writing its continuing obligation to afford to such holder any rights to which such holder shall continue to be entitled after such
exercise in accordance with the provisions of this Warrant. If the holder shall fail to make any such request, such failure shall not affect the continuing obligation of the Company to afford to such holder any such rights. 
  

			
	 Additional Warrant
	 	2

 1.4 Trustee for Warrant Holders. In the event that a bank or trust company shall have been
appointed as trustee for the holders of this Warrant pursuant to Subsection 3.2, such bank or trust company shall have all the powers and duties of a warrant agent (as hereinafter described) and shall accept, in its own name for the account of the
Company or such successor person as may be entitled thereto, all amounts otherwise payable to the Company or such successor, as the case may be, on exercise of this Warrant pursuant to this Section 1. 
  
 1.5 Further Exercise Limitation. Notwithstanding anything contained
herein to the contrary, the Holder shall not be entitled to exercise this Warrant, in whole or in part, prior to April 28, 2006. The limitation described in this Section 1.5 shall automatically become null and void without any notice to
any Company upon the occurrence and during the continuance of an Event of Default. 
  
 2. Procedure for Exercise. 
  
 2.1 Delivery of Stock Certificates, Etc., on Exercise. The Company agrees that the shares of Common Stock purchased upon exercise of this Warrant shall be deemed to be issued to the Holder as the record owner of such shares as of the
close of business on the date on which this Warrant shall have been surrendered and payment made for such shares in accordance herewith. As soon as practicable after the exercise of this Warrant in full or in part, and in any event within three
(3) business days thereafter, the Company at its expense (including the payment by it of any applicable issue taxes) will cause to be issued in the name of and delivered to the Holder, or as such Holder (upon payment by such Holder of any
applicable transfer taxes) may direct in compliance with applicable securities laws, a certificate or certificates for the number of duly and validly issued, fully paid and nonassessable shares of Common Stock (or Other Securities) to which such
Holder shall be entitled on such exercise, plus, in lieu of any fractional share to which such holder would otherwise be entitled, cash equal to such fraction multiplied by the then Fair Market Value of one full share, together with any other stock
or other securities and property (including cash, where applicable) to which such Holder is entitled upon such exercise pursuant to Section 1 or otherwise. 
  

2.2 Exercise. 
  
 (a) Payment may be made either (i) in cash or by certified or official bank check payable to the order of the Company equal to the
applicable aggregate Exercise Price, (ii) by delivery of this Warrant, or shares of Common Stock and/or Common Stock receivable upon exercise of this Warrant in accordance with the formula set forth in subsection (b) below, or
(iii) by a combination of any of the foregoing methods, for the number of Common Shares specified in such Exercise Notice (as such exercise number shall be adjusted to reflect any adjustment in the total number of shares of Common Stock
issuable to the Holder per the terms of this Warrant) and the Holder shall thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid and non-assessable shares of Common Stock (or Other Securities) determined as
provided herein. 
  

			
	 Additional Warrant
	 	3

 (b) Notwithstanding any provisions herein to the contrary, if the Fair Market Value of
one share of Common Stock is greater than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Warrant for cash, the Holder may elect to receive shares equal to the value (as determined below) of this
Warrant (or the portion thereof being exercised) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Exercise Notice in which event the Company shall issue to the Holder a number of shares of
Common Stock computed using the following formula: 
  

			
	X=	  	    Y(A-B)    
	 	  	        A
		
	Where X =	  	the number of shares of Common Stock to be issued to the Holder
		
	Y =	  	the number of shares of Common Stock purchasable under this Warrant or, if only a portion of this Warrant is being exercised, the portion of this Warrant being exercised (at the date of such
calculation)
		
	A =	  	the Fair Market Value of one share of the Company’s Common Stock (at the date of such calculation)
		
	B =	  	the Exercise Price per share (as adjusted to the date of such calculation)

  
 3. Effect of
Reorganization, Etc.; Adjustment of Exercise Price. 
  
 3.1
Reorganization, Consolidation, Merger, Etc. In case at any time or from time to time, the Company shall (a) effect a reorganization, (b) consolidate with or merge into any other person, or (c) transfer all or substantially all
of its properties or assets to any other person under any plan or arrangement contemplating the dissolution of the Company, then, in each such case, as a condition to the consummation of such a transaction, proper and adequate provision shall be
made by the Company whereby the Holder, on the exercise hereof as provided in Section 1 at any time after the consummation of such reorganization, consolidation or merger or the effective date of such dissolution, as the case may be, shall
receive, in lieu of the Common Stock (or Other Securities) issuable on such exercise prior to such consummation or such effective date, the stock and other securities and property (including cash) to which such Holder would have been entitled upon
such consummation or in connection with such dissolution, as the case may be, if such Holder had so exercised this Warrant, immediately prior thereto, all subject to further adjustment thereafter as provided in Section 4. 
  
 3.2 Dissolution. In the event of any dissolution of the Company
following the transfer of all or substantially all of its properties or assets, the Company, concurrently with any distributions made to holders of its Common Stock, shall at its expense deliver or cause to be delivered to the Holder the stock and
other securities and property (including cash, where applicable) receivable by the Holder pursuant to Section 3.1, or, if the Holder shall so instruct the Company, to a bank or trust company specified by the Holder and having its principal
office in New York, NY as trustee for the Holder. 
  

			
	 Additional Warrant
	 	4

 3.3 Continuation of Terms. Upon any reorganization, consolidation, merger or transfer (and any
dissolution following any transfer) referred to in this Section 3, this Warrant shall continue in full force and effect and the terms hereof shall be applicable to the shares of stock and other securities and property receivable on the exercise
of this Warrant after the consummation of such reorganization, consolidation or merger or the effective date of dissolution following any such transfer, as the case may be, and shall be binding upon the issuer of any such stock or other securities,
including, in the case of any such transfer, the person acquiring all or substantially all of the properties or assets of the Company, whether or not such person shall have expressly assumed the terms of this Warrant as provided in Section 4.
In the event this Warrant does not continue in full force and effect after the consummation of the transactions described in this Section 3, then the Company’s securities and property (including cash, where applicable) receivable by the
Holder will be delivered to the Holder or the Trustee as contemplated by Section 3.2. 
  
 4. Extraordinary Events Regarding Common Stock. In the event that the Company shall (a) issue additional shares of the Common Stock as a dividend or other distribution on outstanding Common Stock or any
preferred stock issued by the Company, (b) subdivide its outstanding shares of Common Stock, (c) combine its outstanding shares of the Common Stock into a smaller number of shares of the Common Stock, then, in each such event, the Exercise
Price shall, simultaneously with the happening of such event, be adjusted by multiplying the then Exercise Price by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such event and the
denominator of which shall be the number of shares of Common Stock outstanding immediately after such event, and the product so obtained shall thereafter be the Exercise Price then in effect. The Exercise Price, as so adjusted, shall be readjusted
in the same manner upon the happening of any successive event or events described herein in this Section 4. The number of shares of Common Stock that the holder shall thereafter, on the exercise hereof as provided in Section 1, be entitled
to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section 4) be issuable on such exercise by a fraction of which (a) the numerator
is the Exercise Price that would otherwise (but for the provisions of this Section 4) be in effect, and (b) the denominator is the Exercise Price in effect on the date of such exercise (taking into account the provisions of this
Section 4). 
  
 5. Certificate as to Adjustments. In
each case of any adjustment or readjustment in the shares of Common Stock (or Other Securities) issuable on the exercise of this Warrant, the Company at its expense will upon the Holder’s request promptly cause its Chief Financial Officer or
other appropriate designee to compute such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or
readjustment is based, including a statement of (a) the consideration received or receivable by the Company for any additional shares of Common Stock (or Other Securities) issued or sold or deemed to have been issued or sold, (b) the
number of shares of Common Stock (or Other Securities) outstanding or deemed to be outstanding, and (c) the Exercise Price and the number of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior to
such adjustment or readjustment and as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail a copy of each such certificate to the holder and any Warrant agent of the Company (appointed pursuant to Section 11
hereof). 
  

			
	 Additional Warrant
	 	5

 6. Reservation of Stock, Etc., Issuable on Exercise of Warrant. The Company will at all times
reserve and keep available, solely for issuance and delivery on the exercise of this Warrant, shares of Common Stock (or Other Securities) from time to time issuable on the exercise of this Warrant. 
  
 7. Assignment; Exchange of Warrant. Subject to compliance with
applicable securities laws, this Warrant, and the rights evidenced hereby, may be transferred by any registered holder hereof (a “Transferor”) in whole or in part. On the surrender for exchange of this Warrant, with the Transferor’s
endorsement in the form of Exhibit B attached hereto (the “Transferor Endorsement Form”) and together with evidence reasonably satisfactory to the Company demonstrating compliance with applicable securities laws, which shall include,
without limitation, a legal opinion from the Transferor’s counsel (at the Company’s expense) that such transfer is exempt from the registration requirements of applicable securities laws, the Company at its expense (but with payment by the
Transferor of any applicable transfer taxes) will issue and deliver to or on the order of the Transferor thereof a new Warrant of like tenor, in the name of the Transferor and/or the transferee(s) specified in such Transferor Endorsement Form (each
a “Transferee”), calling in the aggregate on the face or faces thereof for the number of shares of Common Stock called for on the face or faces of the Warrant so surrendered by the Transferor. 
  
 8. Replacement of Warrant. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and
amount to the Company or, in the case of any such mutilation, on surrender and cancellation of this Warrant, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant of like tenor. 
  
 9. Registration Rights. The Holder has been granted certain
registration rights by the Company. These registration rights are set forth in a Registration Rights Agreement entered into by the Company and Holder dated as of the date hereof, as the same may be amended, modified and/or supplemented from time to
time. 
  
 10. Maximum Exercise. Notwithstanding anything
contained herein to the contrary, the Holder shall not be entitled to exercise this Warrant in connection with that number of shares of Common Stock which would exceed the difference between (i) 4.99% of the issued and outstanding shares of
Common Stock and (ii) the number of shares of Common Stock beneficially owned by the Holder. For purposes of the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. The limitation described in the first sentence of this Section 10 shall automatically become null and void without any notice to the Company upon the occurrence and during the
continuance of an Event of Default (as defined in the Security Agreement dated as of the date hereof among the Holder, the Company and various subsidiaries of the Company, as amended, modified, restated and/or supplemented from time to time), or
upon 75 days prior notice to the Company. 
  

			
	 Additional Warrant
	 	6

 11. Warrant Agent. The Company may, by written notice to the each Holder of the Warrant, appoint
an agent for the purpose of issuing Common Stock (or Other Securities) on the exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant to Section 7, and replacing this Warrant pursuant to Section 8, or any of
the foregoing, and thereafter any such issuance, exchange or replacement, as the case may be, shall be made at such office by such agent. 
  
 12. Transfer on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the registered
holder hereof as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary. 
  
 13. Notices, Etc. All notices and other communications from the Company to the Holder shall be mailed by first class registered or certified mail,
postage prepaid, at such address as may have been furnished to the Company in writing by such Holder or, until any such Holder furnishes to the Company an address, then to, and at the address of, the last Holder who has so furnished an address to
the Company. 
  
 14. Miscellaneous. This Warrant and any
term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. ANY ACTION BROUGHT CONCERNING THE TRANSACTIONS CONTEMPLATED BY THIS WARRANT SHALL BE BROUGHT ONLY IN STATE COURTS OF NEW YORK OR IN THE FEDERAL
COURTS LOCATED IN THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT THE HOLDER MAY CHOOSE TO WAIVE THIS PROVISION AND BRING AN ACTION OUTSIDE THE STATE OF NEW YORK. The individuals executing this Warrant on behalf of the Company agree to submit to the
jurisdiction of such courts and waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorneys’ fees and costs. In the event that any provision of this Warrant is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove
invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of this Warrant. The headings in this Warrant are for purposes of reference only, and shall not limit or otherwise affect any of the terms
hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision hereof. The Company acknowledges that legal counsel participated in the preparation of this Warrant and,
therefore, stipulates that the rule of construction that ambiguities are to be resolved against the drafting party shall not be applied in the interpretation of this Warrant to favor any party against the other party. 
  
 [BALANCE OF PAGE INTENTIONALLY LEFT BLANK; 
 SIGNATURE PAGE FOLLOWS] 
  

			
	 Additional Warrant
	 	7

 IN WITNESS WHEREOF, the Company has executed this Warrant as of the date first written above. 

 

					
	 	 	ACCENTIA BIOPHARMACEUTICALS, INC.
			
	WITNESS:	 	 	 	 
	 	 	By:	 	  

	
	 	Name:	 	  

	 	 	Title:	 	  

  

			
	 Additional Warrant
	 	8

 EXHIBIT A 
  

FORM OF SUBSCRIPTION 
 (To Be Signed
Only On Exercise Of Warrant) 
  

			
	TO:	 	Accentia Biopharmaceuticals, Inc.
	 	 	  

	 	 	  

  
 Attention:
        Chief Financial Officer 
  
 The undersigned, pursuant to the provisions set forth in the attached Warrant (No.    ), hereby irrevocably elects to purchase (check applicable box): 
  

			
	 ̈	  	                     shares of the common stock covered by such warrant;
or
		
	 ̈	  	the maximum number of shares of common stock covered by such warrant pursuant to the cashless exercise procedure set forth in Section 2.

  
 The undersigned
herewith makes payment of the full Exercise Price for such shares at the price per share provided for in such Warrant, which is $            . Such payment takes the form of (check
applicable box or boxes): 
  

			
	 ̈	  	$             in lawful money of the United States; and/or
		
	 ̈	  	the cancellation of such portion of the attached Warrant as is exercisable for a total of              shares of Common Stock
(using a Fair Market Value of $             per share for purposes of this calculation); and/or
		
	 ̈	  	the cancellation of such number of shares of Common Stock as is necessary, in accordance with the formula set forth in Section 2.2, to exercise this Warrant with respect to the maximum number of
shares of Common Stock purchasable pursuant to the cashless exercise procedure set forth in Section 2.
	 	  	 

  
 The undersigned
requests that the certificates for such shares be issued in the name of, and delivered to
                                        
whose address is
                                        
                                        
                                        
                                        
                    . 
  
  
 The undersigned represents and warrants that all offers and sales by the
undersigned of the securities issuable upon exercise of the within Warrant shall be made pursuant to registration of the Common Stock under the Securities Act of 1933, as amended (the “Securities Act”) or pursuant to an exemption from
registration under the Securities Act. 
  

					
	Dated:
                                        
        	 	  

	 	 	 (Signature must conform to name of holder as
 specified on the face of the Warrant)

	 	 	Address:	 	  

	 	 	 	 	  

  

			
	 Additional Warrant
	 	9

 EXHIBIT B 
  

FORM OF TRANSFEROR ENDORSEMENT 
 (To
Be Signed Only On Transfer Of Warrant) 
  
 For value received, the
undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees” the right represented by the within Warrant to purchase the percentage and number of shares of Common Stock of Accentia
Biopharmaceuticals, Inc. into which the within Warrant relates specified under the headings “Percentage Transferred” and “Number Transferred,” respectively, opposite the name(s) of such person(s) and appoints each such person
Attorney to transfer its respective right on the books of Accentia Biopharmaceuticals, Inc. with full power of substitution in the premises. 
  

							
	 Transferees    

	  	Address

	  	Percentage
Transferred

	  	Number
Transferred

  

					
	Dated:
                                        
    	 	  

	 	 	 (Signature must conform to name of holder as
 specified on the face of the Warrant)

	 	 	Address:	 	  

	 	 	 	 	  

		
	 	 	SIGNED IN THE PRESENCE OF:
		
	 	 	  

 (Name)

  

	
	 ACCEPTED AND AGREED:

	 [TRANSFEREE]

	
	  

 (Name)

  

			
	 Additional Warrant
	 	10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]