Document:

Exhibit
10.1

 

JOINT
DEVELOPMENT STRATEGIC ALLIANCE

AGREEMENT TO AGREE

  

BY
AND BETWEEN

 

GONZALEZ
FAMILY OFFICE AND AFFILIATES

 

AND

 

GEO
RESERVE CORPORATION

 

THIS
JOINT DEVELOPMENT AGREEMENT, by and between GONZALEZ FAMILY OFFICE AND AFFILIATES, of West Palm Beach, Florida (“GFO”),
and GEO RESERVE CORPORATION, a Delaware corporation (“GRC”), collectively the “Parties,” to develop oil
and gas tax incentive projects, as follows:

  

WHEREAS,
the Parties have had preliminary discussions relating to a potential business transaction[s] involving the Parties and/or
any related entities, and/or the evaluation of prospective financing needs, business transactions, and/or other business activities
or arrangements, hereinafter referred to as the “Business Activities” or “Project” or “Projects”,
and

  

WHEREAS,
GFO provides discrete services to a diverse clientele that are in need of professional engineered tax incentive programs,
and

  

WHEREAS,
GRC develops mineral rights through leasing, drilling and development of oil and gas properties, and

   

WHEREAS,
the parties intend to jointly develop oil and gas tax incentive programs for GFO and clients of $100 Million + during 2017.

 

NOW
THEREFORE, in consideration for the mutual promises herein contained, the parties agree as follows:

 

     

     

    

 

		1.	GFO
                                         will assist GRC in originating, structuring, developing and managing tax incentive programs.

  

		2.	GRC
                                         will reserve an inventory of $100 Million + of assets for the development of tax incentive
                                         programs, in amounts to be mutually agreed by the parties.

 

		3.	GRC
                                         shall locate and evaluate oil and gas properties and develop project packages for the
                                         exploitation of said properties.

 

		4.	The
                                         parties will jointly develop opportunities that will allow GFO to offer pass through
                                         tax benefits for its clientele.

 

		5.	The
                                         tax programs will be structured in the form of limited liability companies (“LLCs”),
                                         wherein the GFO clients will own membership interests together with the parties herein.
                                         Said LLCs shall be designed to allow the flow through of tax credits to the GFO clientele,
                                         with the tax deductions to be allocated first to the clientele up to One Hundred (100%)
                                         percent of their basis.

 

		6.	The
                                         profits for each LLC shall be allocated as follows:

 

		a.	Seventy-five
                                         (75%) percent to the clientele until such time as the investor receives one hundred (100%)
                                         percent of their invested capital, and the remaining 25% to GRC.

  

		b.	Once
                                         the clientele has recaptured its initial investment, the profits shall be allocated Fifty
                                         (50%) percent to the investor and Fifty (50%) percent to GRC.

  

		7.	For
                                         its services, GFO shall receive from GRC appropriate cash professional fee and membership
                                         interest for each LLC structured in pursuance of this agreement.

 

		8.	The
                                         initial term of this agreement shall be two (2) years, and at the end of such two-year
                                         term, this agreement will be renewed for an additional two-year period, unless either
                                         of the parties notifies the other party within thirty (30) days prior to the end of the
                                         initial term.

  

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		9.	GFO
                                         shall develop oil and gas tax programs exclusively through GRC, and GRC shall reserve
                                         sufficient asset inventory to cover the program amounts allocated to GRC by GFO.

  

		10.	GRC
                                         offers packages to third parties, but agrees to work exclusively with GFO for the creation
                                         and formation of tax programs.

  

		11.	The
                                         parties agree and understand that each party may receive proprietary information from
                                         the other, and as such, each party shall protect the proprietary information of the other
                                         party from disclosure to third parties without the express written authorization by the
                                         party whose proprietary information is to be disclosed.

 

		12.	All
                                         data, maps, reports, interpretations, records, agreements, and information pertaining
                                         to GRC projects or the project areas, and any other proprietary information of GRC which
                                         is generated, prepared or obtained by GRC or GFO, and any other information which GRC
                                         maintains on a confidential basis shall be and remain held strictly confidential by GFO
                                         and its successors and assigns, and will not be disclosed to any other person or entity.

  

		13.	The
                                         above terms of confidentiality shall not apply to information which is in or may hereafter
                                         enter the public domain without breach of the provisions of this agreement. Also excluded
                                         shall be information which is in the possession of GFO prior to the time of such receipt
                                         from GRC, and information which may lawfully be received from a third party not a party
                                         hereto and without breach of the provisions of this agreement.

 

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		14.	Throughout
                                         the term of this agreement, and any extensions or renewals, GFO shall not make use of
                                         any confidential information for GFO’s own purposes or for the benefit of any other person.
	 	 	 
		15.	The
                                         parties will first attempt to settle any dispute between them by mediation. Any dispute
                                         between the parties which is not settled by mediation within ninety (90) days of notification
                                         by one party to the other party, shall be settled by binding arbitration in accordance
                                         with the Commercial Arbitration Rules of the American Arbitration Association. The proceedings
                                         shall be held in Washington, DC under the auspices of the AAA.
	 	 	 
		16.	Neither
                                         Receiving Party, nor any third party they share the Confidential Information with, shall
                                         not (a) attempt in any manner to deal directly or indirectly in any manner with any of
                                         the Contact Persons or other individuals or companies related to any Projects including
                                         by having any part of or deriving any benefit from any Project or any aspect thereof,
                                         or (b) by-pass, compete, avoid, circumvent, or attempt to circumvent the Disclosing Party
                                         relative to any Projects, including utilizing any Confidential Information for any purpose
                                         other than evaluating the Project.
	 	 	 
		17.	This
                                         Agreement shall be governed by and interpreted under the laws of the District of Columbia,
                                         without giving effect to the choice of laws principles thereof, and may not be superseded,
                                         amended or modified except by written agreement executed by all the parties hereto.
	 	 	 
		18.	This
                                         Agreement constitutes the entire understanding between the Parties and supersedes all
                                         previous understandings, agreements, communications and representations, whether written
or oral, concerning the treatment of Proprietary Information and other matters addressed herein.

 

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	 	19.	This Agreement may be executed electronically by the
Parties of record as named herein, and transmitted by email or facsimile, with multiple signed originals constituting one and
the same Agreement.

 

IN
WITNESS WHEREOF, this Agreement has been executed by duly authorized representatives of both Parties, effective as of the date
first written above, with all facts represented herein by each Party to be true to the best of its knowledge.

 

	GONZALEZ FAMILY OFFICE	 	GEO RESERVE CORPORATION
	 	 	 	 	 
	By:	/s/
    Julio Gonzalez	 	By:	/s/
    C C Colburn
	 	Julio Gonzalez	 	 	C C Colburn
	Its:	Managing
    Partner/CEO	 	Its:	CEO
    8/15/2017

 

 

5EXHIBIT
4.1

 

NEITHER THIS WARRANT, NOR THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE “SECURITIES”), HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE
A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION
FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH
A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

THE SECURITIES ARE SUBJECT TO THE TERMS
AND CONDITIONS SET FORTH IN THE INVESTOR RIGHTS AGREEMENT, DATED SEPTEMBER [__], 2017, BY AND BETWEEN ONCOBIOLOGICS, INC., AND
GMS TENSHI HOLDINGS PTE. LIMITED, AS IT MAY BE AMENDED FROM TIME TO TIME, COPIES OF WHICH ARE ON FILE WITH AND AVAILABLE FROM THE
SECRETARY OF ONCOBIOLOGICS, INC., WITHOUT COST.

 

ONCOBIOLOGICS, INC.

 

Form
of Warrant to Purchase Common Stock

 

Warrant No.: 2017-_____

Number of Shares of Common Stock: 16,750,000

Date of Issuance: [—],
2017 (“Issuance Date”)

 

Oncobiologics, Inc.,
a Delaware corporation (the “Company”), certifies that, for good and valuable consideration, the receipt and
sufficiency of which are acknowledged, GMS Tenshi Holdings Pte. Limited, the registered holder hereof or its permitted assigns
(the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise
Price (as defined below) then in effect, upon surrender of this Warrant to Purchase Common Stock (including any Warrants to Purchase
Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”), at any time or times on or
after the Issuance Date, but not after 5:30 p.m., New York City time, on the Expiration Date (as defined below), sixteen million
seven hundred fifty thousand (16,750,000) fully paid and nonassessable shares of Common Stock (the “Warrant Shares”).
This Warrant has been issued pursuant to that certain Purchase Agreement, by and between the Company and the Holder, dated September
7, 2017 (the “Purchase Agreement”). In addition to the defined terms set forth in Section 16 herein,
capitalized terms that are not otherwise defined herein shall have the meanings assigned to such terms in the Purchase Agreement.

 

     

     

    

  

		Section	1.          Exercise
of Warrant.

  

(a)          Mechanics
of Exercise. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day on or after
the Issuance Date, in whole or in part, by (i) delivery of a written notice, in the form attached hereto as Exhibit A (the
“Exercise Notice”), of the Holder’s election to exercise this Warrant and (ii) payment to the Company
of an amount equal to the applicable Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being
exercised (the “Aggregate Exercise Price”) in cash or wire transfer of immediately available funds (a “Cash
Exercise”) (the items under (i) and (ii) above, the “Exercise Deliveries”). The Holder shall not be
required to surrender this Warrant in order to effect an exercise hereunder; provided, however, that in the event
that this Warrant is exercised in full or for the remaining unexercised portion hereof, the Holder shall deliver this Warrant to
the Company for cancellation within a reasonable time after such exercise. No ink-original Exercise Notice shall be required, nor
shall any medallion guarantee (or other type of guarantee or notarization) of any Exercise Notice be required. On or before the
Trading Day following the date on which the Company has received the Exercise Deliveries (the date upon which the Company has received
the Exercise Deliveries, the “Exercise Date”), the Company shall transmit by e-mail transmission an acknowledgment
of confirmation of receipt of the Exercise Deliveries to the Holder and the Company’s transfer agent for the Common Stock
(the “Transfer Agent”). The Company shall deliver any objection to the Exercise Deliveries on or before the
second Trading Day following the date on which the Company has received the Exercise Deliveries. On or before the fourth Trading
Day following the date on which the Company has received the Exercise Deliveries (the “Share Delivery Date”),
the Company shall cause the Transfer Agent to credit the account of the Holder’s prime broker with the Depository Trust Company
System (as directed by such Holder) with the number of Warrant Shares to which the Holder is entitled; provided, however,
the Company shall not be required to deliver such Warrant Shares if the Company has not received the Aggregate Exercise Price for
such Warrant Shares on or before the Share Delivery Date. Upon delivery of the Exercise Deliveries, the Holder shall be deemed
for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been
exercised, irrespective of the date of delivery of the Warrant Shares to such Holder’s prime broker account with the Depository
Trust Company System. If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the
number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being
acquired upon an exercise, then the Company shall as soon as practicable and in no event later than five Trading Days after any
such submission and at its own expense, issue a new Warrant (in accordance with Section 6(e)) representing the right to
purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant
Shares with respect to which this Warrant has been and/or is exercised. The Company shall pay any and all taxes that may be payable
with respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant; provided, however, that
the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of
any certificates for Warrants in a name other than that of the Holder or an affiliate thereof. The Holder shall be responsible
for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon
exercise hereof. Notwithstanding the foregoing, if there is no effective registration statement with respect to the Warrant Shares,
and the Holder chooses to exercise the warrant for cash not in accordance with Section 1(d) herein, then the Holder shall
receive certificated shares with the appropriate restrictive legends, including as required by the Securities Act or under any
state securities or blue sky laws.

 

(b)          Exercise
Price. For purposes of this Warrant, “Exercise Price” means $0.90 per share of Common Stock, subject to
adjustment as provided herein.

 

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(c)          Failure
to Timely Deliver Shares. In addition to any other rights available to the Holder, if the Company fails to deliver the Warrant
Shares to the Holder by the fourth Trading Day after the Exercise Date, then the Holder will have the right to rescind such exercise
by giving written notice to the Company.

 

(d)          Cashless
Exercise. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, exercise this
Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such
exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the “Net Number” of
shares of Common Stock determined according to the following formula (a “Cashless Exercise”):

 

Net Number = (A x B) - (A x C)

B

 

For purposes of the foregoing
formula:

 

A = the total number of shares
with respect to which this Warrant is then being exercised.

 

B = the Weighted Average Price
of the shares of Common Stock (as reported by Bloomberg) on the date immediately preceding the date of the Exercise Notice.

 

C = the Exercise Price then
in effect for the applicable Warrant Shares at the time of such exercise.

 

For purposes of Rule
144(d) promulgated under the Securities Act, as in effect on the date hereof, assuming the Holder is not an Affiliate of the Company,
it is intended that the Warrant Shares issued in a Cashless Exercise shall be deemed to have been acquired by the Holder, and the
holding period for the Warrant Shares shall be deemed to have commenced, on the date the Holder is deemed to have acquired this
Warrant.

 

(e)          Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares
to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are
not disputed and resolve such dispute in accordance with Section 12 herein.

 

(f)          No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share that the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Weighted
Average Price.

 

Section
2.          Adjustment of Exercise Price and Number of Warrant Shares.
The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

 

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(a)          Adjustment
upon Subdivision or Combination of Shares of Common Stock. If the Company at any time on or after the Issuance Date: (i) pays
a stock dividend or otherwise makes a distribution or distributions on shares of Common Stock or any other equity or equity equivalent
securities payable in shares of Common Stock (which shall not include PIK Shares (as defined in the Certificate of Designation)
or any shares of Common Stock to be issued by the Company upon conversion of any Series A Convertible Preferred Stock (as defined
in the Certificate of Designation) in accordance with the Certificate of Designation or upon exercise of this Warrant), (ii) subdivides
(by any stock split, stock dividend, recapitalization or otherwise) outstanding shares of Common Stock into a larger number of
shares, (iii) combines (by combination, reverse stock split or otherwise) outstanding shares of Common Stock into a smaller number
of shares, or (iv) issues by reclassification of shares of Common Stock any shares of capital stock of the Company, then, in each
case, the Exercise Price shall be multiplied by a fraction of which (A) the numerator shall be the number of shares of Common Stock
outstanding on a fully-diluted basis immediately before such event, and (B) the denominator shall be the number of shares of Common
Stock outstanding on a fully-diluted basis immediately after such event; provided that, for purposes of the foregoing, the
applicable number of shares of Common Stock outstanding on a fully-diluted basis shall include, for the avoidance of doubt, any
shares of Common Stock that the Company would be required or permitted to issue assuming the conversion, exchange or exercise,
as applicable, of any then-outstanding options, warrants, performance stock units, restricted stock units and other securities
or instruments convertible or exchangeable into, or exercisable for, shares of Common Stock, whether or not then convertible, exchangeable
or exercisable, but excluding any such shares of Common Stock that the Company would be required or permitted to issue pursuant
to any then-outstanding Series A Convertible Preferred Stock or this Warrant. Any adjustment made pursuant to this Section 2(a)
shall become effective, (x) in the case of clause (i) above, immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution, and (y) in the case of clauses (ii), (iii) and (iv) above, immediately after
the effective date of such event.

 

(b)          Other
Events. If any event occurs of the type contemplated by the provisions of Section 2(a) but not expressly provided for
by such provisions, then the Company’s Board of Directors will make an appropriate adjustment in the Exercise Price and the
number of Warrant Shares so as to protect the rights of the Holder; provided, that no such adjustment pursuant to this Section
2(b) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section
2.

 

(c)          Notwithstanding
anything to the contrary in this Warrant, in no event shall the Exercise Price be reduced below the par value of the Company’s
Common Stock.

 

		Section	3.          Purchase
Rights; Fundamental Transactions.

 

(a)          Purchase
Rights. In addition to any adjustments pursuant to Section 2 above, if at any time prior to the Expiration Date the
Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other
property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then
the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which
the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of
this Warrant (without regard to any limitations on the exercise of this Warrant) immediately before the date on which a record
is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record
holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

 

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(b)          Fundamental
Transactions. Upon the occurrence of any Fundamental Transaction, the Successor Entity shall succeed to, and be substituted
for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the
obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.
Upon consummation of the Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall
be issued upon exercise of this Warrant at any time after the consummation of the Fundamental Transaction, in lieu of the shares
of the Common Stock (or other securities, cash, assets or other property purchasable upon the exercise of the Warrant prior to
such Fundamental Transaction), such shares of stock, securities, cash, assets or any other property whatsoever (including warrants
or other purchase or subscription rights), if any, that the Holder would have been entitled to receive upon the happening of such
Fundamental Transaction had this Warrant been exercised immediately prior to such Fundamental Transaction, as adjusted in accordance
with the provisions of this Warrant. In addition to and not in substitution for any other rights hereunder, prior to the consummation
of any Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other
assets with respect to or in exchange for shares of Common Stock (a “Corporate Event”), the Company shall make
appropriate provision to ensure that the Holder will thereafter have the right to receive upon an exercise of this Warrant within
90 days after the consummation of the Fundamental Transaction but, in any event, prior to the Expiration Date, in lieu of the shares
of the Common Stock (or other securities, cash, assets or other property) purchasable upon the exercise of the Warrant prior to
such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever (including warrants
or other purchase or subscription rights) which the Holder would have been entitled to receive upon the happening of such Fundamental
Transaction had the Warrant been exercised immediately prior to such Fundamental Transaction and shall be applied without regard
to any limitations on the exercise of this Warrant. Provision made pursuant to the preceding sentence shall be in a form and substance
reasonably satisfactory to the Required Holders. The provisions of this Section 3(b) shall apply similarly and equally to
successive Fundamental Transactions and Corporate Events and shall be applied without regard to any limitations on the exercise
of this Warrant.

 

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Section
4.          Reservation of Warrant Shares. The Company covenants
that it will at all times reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved
Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided,
the number of shares of Common Stock which are then issuable and deliverable upon the exercise of this entire Warrant, free from
preemptive or any other contingent purchase rights of Persons other than the Holder (taking into account the adjustments and restrictions
in Section 2). Such reservation shall comply with the provisions of Section 1. The Company covenants that all shares
of Common Stock so issuable and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance
with the terms hereof, be duly and validly authorized, issued and fully paid and nonassessable. The Company will take all such
actions as may be necessary to assure that such shares of Common Stock may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common
Stock may be listed. If, notwithstanding the foregoing, and not in limitation thereof, at any time while this Warrant remains
outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation
to reserve for issuance upon exercise of this Warrant at least a number of shares of Common Stock equal to the maximum number
of shares of Common Stock as shall from time to time be necessary to effect the exercise of all this Warrant (without regard to
any limitations on exercise contained herein) (the “Required Reserve Amount”), then the Company shall immediately
take all action necessary to increase the Company’s authorized shares of Common Stock to an amount sufficient to allow the
Company to reserve the Required Reserve Amount for this entire Warrant.

 

Section
5.          Warrant Holder Not Deemed a Stockholder. Except as
otherwise specifically provided herein, the Holder, solely in such Person’s capacity as a holder of this Warrant, shall not
be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything
contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this
Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action
(whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive
notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant
Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this
Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant
or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

		Section	6.          Registration
and Reissuance of Warrants.

 

(a)          Registration
of Warrant. The Company shall register this Warrant, upon the records to be maintained by the Company for that purpose (the
“Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat
the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to
the Holder, and for all other purposes, absent actual notice to the contrary. The Company shall also register any transfer, exchange,
reissuance or cancellation of any portion of this Warrant in the Warrant Register.

 

(b)          Transfer
of Warrant. This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company, except
as may otherwise be required by applicable securities laws. Subject to applicable securities laws, if this Warrant is to be transferred,
the Holder shall surrender this Warrant to the Company together with all applicable transfer taxes, whereupon the Company will
forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 6(e)), registered as
the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if
less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with
Section 6(e)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

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(c)          Lost,
Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification undertaking by
the Holder to the Company in customary form or the provision of reasonable security by the Holder to the Company and, in the case
of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant
(in accordance with Section 6(e)) representing the right to purchase the Warrant Shares then underlying this Warrant.

 

(d)          Exchangeable
for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the
Company together with all applicable transfer taxes, for a new Warrant or Warrants (in accordance with Section 6(e)) representing
in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will
represent the right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender;
provided, however, that the Company shall not be required to issue Warrants for fractional shares of Common Stock
hereunder.

 

(e)          Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant
shall (i) be of like tenor with this Warrant, (ii) represent, as indicated on the face of such new Warrant, the right to purchase
the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 6(b) or
Section 6(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying
the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date and
(iv) have the same rights and conditions as this Warrant.

 

Section
7.          Notices. Whenever notice is required to be given under
this Warrant, unless otherwise provided herein, such notice shall be given in accordance with the information set forth in the
Warrant Register. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant,
including, in reasonable detail, a description of such action and the reason or reasons therefore. Without limiting the generality
of the foregoing, the Company will give written notice to the Holder (i) immediately upon any adjustment of the Exercise Price,
setting forth in reasonable detail, and certifying, the calculation of such adjustment and (ii) at least 20 days prior to the
date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the shares
of Common Stock, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase
stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock or (C) for
determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation; provided, that in each
case, such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder.

 

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Section
8.          Noncircumvention. The Company hereby covenants and
agrees that the Company will not, by amendment of its Certificate of Incorporation, Bylaws or through any reorganization, transfer
of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry
out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting
the generality of the foregoing, the Company (i) shall not increase the par value of any shares of Common Stock receivable upon
the exercise of this Warrant above the Exercise Price then in effect, (ii) shall use all reasonable efforts to take all such actions
as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares
of Common Stock upon the exercise of this Warrant and (iii) shall, so long as any of the Warrants are outstanding, take all action
necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting
the exercise of the Warrants, the number of shares of Common Stock as shall from time to time be necessary to effect the exercise
of the Warrants then outstanding (without regard to any limitations on exercise).

 

Section
9.          Amendment and Waiver. Except as otherwise provided
herein, the provisions of this Warrant may be amended and the Company may take any action herein prohibited, or omit to perform
any act herein required to be performed by it, only if the Company has obtained the written consent of the Holder. No such amendment
shall be effective to the extent that it applies to less than all of the holders of the Warrants then outstanding.

 

Section
10.         Governing Law. This Warrant shall be governed by and
construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and
performance of this Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any
choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would
cause the application of the laws of any jurisdictions other than the State of New York.

 

Section
11.         Construction; Headings. This Warrant shall be deemed to
be jointly drafted by the Company and the Holder and shall not be construed against any person as the drafter hereof. The headings
of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant.

 

Section
12.         Dispute Resolution. In the case of a dispute as to the determination
of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the disputed determinations
or arithmetic calculations via email within two Trading Days of receipt of the Exercise Notice giving rise to such dispute, as
the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination or calculation of the
Exercise Price or the Warrant Shares within five Trading Days of such disputed determination or arithmetic calculation being submitted
to the Holder, then the Company shall, within three Trading Days submit via email (a) the disputed determination of the Exercise
Price to an independent, reputable investment bank selected by the Company and approved by the Holder or (b) the disputed arithmetic
calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall cause the investment
bank or the accountant, as the case may be, to perform the determinations or calculations and notify the Company and the Holder
of the results no later than 10 Trading Days from the time it receives the disputed determinations or calculations. Such investment
bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent demonstrable
error. The expenses of the investment bank and accountant will be borne by the Company unless the investment bank or accountant
determines that the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares by the Holder was incorrect
by ten percent (10%) or more, in which case the expenses of the investment bank and accountant will be borne by the Holder.

 

    	 	8	 

     

    

  

Section
13.         Remedies, Other Obligations, Breaches and Injunctive
Relief. The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available under
this Warrant, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing
herein shall limit the right of the Holder to pursue actual damages for any failure by the Company to comply with the terms
of this Warrant. The Company acknowledges that a breach by it of its obligations hereunder would cause irreparable harm to
the Holder and that the remedy at law for any such breach would be inadequate. The Company therefore agrees that, in the
event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other
available remedies, to an injunction restraining any breach. Notwithstanding the foregoing or anything else herein to the
contrary, other than as expressly provided in Section 1(c) hereof, if the Company is for any reason unable to issue
and deliver Warrant Shares upon exercise of this Warrant as required pursuant to the terms hereof, the Company shall have no
obligation to pay to the Holder any cash or other consideration or otherwise “net cash settle” this Warrant.

 

Section
14.         Limitation on Liability. No provisions hereof, in the absence
of affirmative action by the Holder to purchase Warrant Shares hereunder, shall give rise to any liability of the Holder to pay
the Exercise Price or as a shareholder of the Company (whether such liability is asserted by the Company or creditors of the Company).

 

Section
15.         Successors and Assigns. This Warrant shall bind and inure
to the benefit of and be enforceable by the Company and the Holder and their respective permitted successors and assigns.

 

Section
16.         Certain Definitions. For purposes of this Warrant, the following
terms shall have the following meanings:

 

“Bloomberg”
means Bloomberg LP.

 

“Common
Stock” means (i) the Company’s shares of Common Stock, $0.01 par value per share, and (ii) any share capital into
which such Common Stock shall have been changed or any share capital resulting from a reclassification of such Common Stock.

 

“Convertible
Securities” means any stock or securities (other than Options) directly or indirectly convertible into or exercisable
or exchangeable for shares of Common Stock.

 

“Eligible
Market” means The New York Stock Exchange, Inc., the NYSE MKT or The Nasdaq Stock Market.

 

    	 	9	 

     

    

  

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Expiration
Date” means the date that is the eighth (8th) anniversary of the Issuance Date or, if such date falls on a
day other than a Trading Day or on which trading does not take place on the Principal Market, or, if the Principal Market is not
the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the
Common Stock is then traded (a “Holiday”), the next date that is not a Holiday.

 

“Fundamental
Transaction” means that the Company shall, directly or indirectly, in one or more related transactions, (i) consolidate
or merge with or into another Person, (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the
properties or assets of the Company to another Person, (iii) allow another Person to make a purchase, tender or exchange offer
that is accepted by the holders of more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase,
tender or exchange offer), (iv) consummate a stock purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more
than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other
Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock purchase agreement
or other business combination), (v) reorganize, recapitalize or reclassify its Common Stock or (vi) any “person” or
“group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate
ordinary voting power represented by issued and outstanding Common Stock.

 

“Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

“Parent
Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person and whose common stock
or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity,
the Person or Parent Entity with the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

 

“Person”
means an individual, company, corporation, partnership, limited partnership, limited liability company, syndicate, person (including
a “person” as defined in Section 13(d)(3) of the Exchange Act), trust, association or entity or government, political
subdivision, agency or instrumentality of a government.

 

“Principal
Market” means The NASDAQ Stock Market.

 

“Required
Holders” means the holders of the Warrants representing at least a majority of shares of Common Stock underlying the
Warrants then outstanding.

 

    	 	10	 

     

    

  

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Successor
Entity” means the Person (or, if so elected by the Required Holders, the Parent Entity) formed by, resulting from or
surviving any Fundamental Transaction or the Person (or, if so elected by the Required Holders, the Parent Entity) with which such
Fundamental Transaction shall have been entered into.

 

“Trading
Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the
principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common
Stock is then traded; provided that “Trading Day” shall not include any day on which the Common Stock is scheduled
to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the
final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time
of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York City time).

 

“Weighted
Average Price” means, for any security as of any specified date, the average of the dollar volume-weighted averages of
the trading prices for such security on the Principal Market, or, if the Principal Market is not the principal trading market for
the Common Stock, then on the principal securities exchange on which the Common Stock is then traded, on each of the ten (10) consecutive
Trading Days ending on the Trading Day prior to such specified date, as reported by Bloomberg through its “Volume at Price”
function or, if the foregoing does not apply, the average of the dollar volume-weighted averages of the trading prices for such
security in the over-the-counter market on the electronic bulletin board for such security on each of the ten (10) consecutive
trading days for such market ending on the trading day prior to such specified date, as reported by Bloomberg, or, if no dollar
volume-weighted average of the trading price is reported for such security by Bloomberg for such period, the average of the highest
closing bid price and the lowest closing ask price of any of the market makers for such security during such period as reported
in the “pink sheets” by OTC Markets Inc. If the Weighted Average Price cannot be calculated for such security on such
specified date on any of the foregoing bases, the Weighted Average Price of such security on such specified date shall be the fair
market value as mutually determined by the Company and the Required Holders. If the Company and the Required Holders are unable
to agree upon the fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the
term “Weighted Average Price” being substituted for the term “Exercise Price.” All such determinations
shall be appropriately adjusted for any share dividend, share split or other similar transaction during such period.

 

[Signature Page Follows]

 

    	 	11	 

     

    

  

IN WITNESS WHEREOF,
the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set forth above.

 

	 	ONCOBIOLOGICS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Warrant]

  

     

     

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

TO BE EXECUTED BY THE REGISTERED HOLDER
TO EXERCISE THIS 

WARRANT TO PURCHASE COMMON STOCK

 

ONCOBIOLOGICS, INC.

 

The undersigned holder hereby exercises
the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”) of Oncobiologics, Inc.,
a Delaware corporation (the “Company”), evidenced by the attached Warrant to Purchase Common Stock (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 

1.            Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as (check one):

 

		 ̈	Cash Exercise under Section 1(a).

 

		 ̈	Cashless Exercise under Section 1(d).

 

2.            Cash
Exercise. If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $__________ to the Company in accordance
with the terms of the Warrant.

 

3.            Delivery
of Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Warrant.
If the shares are to be delivered electronically, please complete the Depository Trust Company (“DTC”) DWAC
information below.

 

Date: _______________ __, ______

 

	 	 	 
	Name of Registered Holder	 	Name of Signatory

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

If shares are to be delivered electronically:

 

Broker Name: ________________________________

 

Broker DTC DWAC #: ________________________________

 

Account at Broker shares are to be delivered
to: ________________________________

 

     

     

    

 

ACKNOWLEDGMENT

 

The Company hereby acknowledges this Exercise Notice.

 

	 	ONCOBIOLOGICS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

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