Document:

Exhibit 10.9

 

EYEGATE PHARMACEUTICALS, INC.

2014 EQUITY INCENTIVE PLAN 

NOTICE OF STOCK OPTION GRANT

 

You have been granted the following option
to purchase shares of the common stock of Eyegate Pharmaceuticals, Inc. (the “Company”):

 

	Name of Optionee:	 	 
	 	 	 
	Total Number of Shares:	 	 
	 	 	 
	Type of Option:	 	 
	 	 	 
	Exercise Price per Share:	 	$
	 	 	 
	Date of Grant:	 	 
	 	 	 
	Vesting Commencement Date:	 	 
	 	 	 
	Vesting Schedule:	 	This option vests and becomes exercisable with respect to the first            % of the shares subject to this option when you complete               months of continuous “Service” (as defined in the Plan) from the Vesting Commencement Date. Thereafter, this option vests and becomes exercisable with respect to an additional           % of the shares subject to this option when you complete each additional            month of continuous Service.
	 	 	 
	Expiration Date:	 	                         . This option expires earlier if your Service terminates earlier, as described in the Stock Option Agreement, and may terminate earlier in connection with certain corporate transactions as described in Article 9 of the Plan.

 

You and the Company agree that this option is granted under
and governed by the terms and conditions of the Company’s 2014 Equity Incentive Plan (the “Plan”) and the Stock
Option Agreement, both of which are attached to, and made a part of, this document.

 

You further agree to accept by email all documents relating
to the Plan or this option (including, without limitation, prospectuses required by the Securities and Exchange Commission) and
all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports
and proxy statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the
Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify
you by email.

 

You further agree to comply with the Company’s Securities
Trading Policy when selling shares of the Company’s common stock.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Optionee and the
Company have executed this notice as of the               day
of              ,             .

 

 

	OPTIONEE	 
	 	 
	 	 
	Printed Name	 
	 	 
	 	 
	Signature	 
	 	 
	 	 
	Address	 

 

 

	EYEGATE PHARMACEUTICALS, INC.	 

 

	By:	 	 

 

	 	 
	 	 
	Name	 
	 	 
	 	 
	Title	 

 

    	 

    	 

    

 

EYEGATE PHARMACEUTICALS, INC. 

2014 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

 

	 	 	 
	Grant of Option	 	Subject to all of the terms and conditions set forth in the Notice of Stock Option Grant, this Stock Option Agreement (the “Agreement”) and the Plan, the Company has granted you an option to purchase up to the total number of shares specified in the Notice of Stock Option Grant at the exercise price indicated in the Notice of Stock Option Grant.

All capitalized terms used in this Agreement shall have the meanings assigned to them in this Agreement, the Notice of Stock Option Grant or the Plan.

For all purposes applicable to this option, “Service” means your continuous service as an Employee or Consultant.
	 	 	 
	Tax Treatment	 	This option is intended to be an incentive stock option under Section 422 of the Code or a nonstatutory stock option, as provided in the Notice of Stock Option Grant. However, even if this option is designated as an incentive stock option in the Notice of Stock Option Grant, it shall be deemed to be a nonstatutory stock option to the extent it does not qualify as an incentive stock option under federal tax law, including under the $100,000 annual limitation under Section 422(d) of the Code.
	 	 	 
	Vesting	 	This option vests and becomes exercisable in accordance with the vesting schedule set forth in the Notice of Stock Option Grant. In no event will this option vest or become exercisable for additional shares after your Service has terminated for any reason.
	 	 	 
	Term	 	This option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Date of Grant, as shown in the Notice of Stock Option Grant. (This option will expire earlier if your Service terminates, as described below, and this option may be terminated earlier as provided in Article 9 of the Plan.)
	 	 	 
	Termination of Service	 	If your Service terminates for any reason, this option will expire immediately to the extent the option is unvested as of your termination date and does not vest as a result of your termination of Service. The Company determines when your Service terminates for all purposes of this option.
	 	 	 
	Regular Termination	 	If your Service terminates for any reason except death or total and permanent disability, then this option, to the extent vested as of your termination date, will expire at the close of business at Company headquarters on the date three months after your termination date.
	 	 	 
	Death	 	If you die before your Service terminates, then this option will expire at the close of business at Company headquarters on the date 12 months after the date of death.

 

    	 

    	 

    

 

	Disability	 	
        If your Service terminates because of your total and permanent
        disability, then this option will expire at the close of business at Company headquarters on the date 12 months after your termination
        date.

         

        For all purposes under this Agreement, “total and permanent
        disability” means that you are unable to engage in any substantial gainful activity by reason of any medically determinable
        physical or mental impairment which can be expected to result in death or which has lasted, or can be expected to last, for a continuous
        period of not less than one year.

	 	 	 
	Leaves of Absence and Part-Time Work	 	For purposes of this option, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing and if continued crediting of Service is required by applicable law, the Company’s leave of absence policy, or the terms of your leave. However, your Service terminates when the approved leave ends, unless you immediately return to active work. If you go on a leave of absence, then the vesting schedule specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave. If you commence working on a part-time basis, the Company may adjust the vesting schedule so that the rate of vesting is commensurate with your reduced work schedule.
	 	 	 
	Notice Concerning Incentive Stock Option Treatment	 	Even if this option is designated as an incentive stock option in the Notice of Stock Option Grant, it ceases to qualify for favorable tax treatment as an incentive stock option to the extent that it is exercised: (a) more than three months after the date when you cease to be an Employee for any reason other than death or permanent and total disability (as defined in Section 22(e)(3) of the Code), (b) more than 12 months after the date when you cease to be an Employee by reason of permanent and total disability (as defined in Section 22(e)(3) of the Code) or (c) more than three months after the date when you have been on a leave of absence for three months, unless your reemployment rights following such leave were guaranteed by statute or by contract.
	 	 	 
	Restrictions on Exercise	 	The Company will not permit you to exercise this option if the issuance of shares at that time would violate any law or regulation.
	Notice of Exercise	 	
        When you wish to exercise this option, you must notify
the Company by filing the proper “Notice of Exercise” form at the address given on the form or, if the Company has
designated a brokerage firm to administer the Plan, you must notify such brokerage firm in the manner such brokerage firm requires.
Your notice must specify how many shares you wish to purchase. The notice will be effective when the Company receives it. However,
if you wish to exercise this option by executing a same-day sale (as described below), you must follow the instructions of the
Company and the broker who will execute the sale.

         

        If someone else wants to exercise this option after your death,
        that person must prove to the Company’s satisfaction that he or she is entitled to do so.

         

        You may only exercise your option
        for whole shares.

 

    	 

    	 

    

 

	Form of Payment	 	
        When you submit your notice of exercise, you must include payment
        of the option exercise price for the shares that you are purchasing. To the extent permitted by applicable law, payment may be
        made in one (or a combination of two or more) of the following forms:

         

        • By delivering to the
        Company your personal check, a cashier’s check or a money order, or arranging for a wire transfer.

        • By delivering to the
        Company certificates for shares of Company stock that you own, along with any forms needed to effect a transfer of those shares
        to the Company. The value of the shares, determined as of the effective date of the option exercise, will be applied to the option
        exercise price. Instead of surrendering shares of Company stock, you may attest to the ownership of those shares on a form provided
        by the Company and have the same number of shares subtracted from the option shares issued to you.

        • By giving to a securities
        broker approved by the Company irrevocable directions to sell all or part of your option shares and to deliver to the Company,
        from the sale proceeds, an amount sufficient to pay the option exercise price and any withholding taxes. (The balance of the sale
        proceeds, if any, will be delivered to you.) The directions must be given in accordance with the instructions of the Company and
        the broker. This exercise method is sometimes called a “same-day sale.”

	 	 	 
	Withholding Taxes	 	You will not be allowed to exercise this option unless you make arrangements acceptable to the Company to pay any withholding taxes that may be due as a result of the option exercise. These arrangements include payment in cash. With the Company’s consent, these arrangements may also include (a) payment from the proceeds of the sale of shares through a Company-approved broker, (b) withholding shares of Company stock that otherwise would be issued to you when you exercise this option with a fair market value no greater than the minimum amount required to be withheld by law, (c) surrendering shares that you previously acquired with a fair market value no greater than the minimum amount required to be withheld by law, or (d) withholding cash from other compensation. The fair market value of withheld or surrendered shares, determined as of the date when taxes otherwise would have been withheld in cash, will be applied to the withholding taxes.
	 	 	 
	Restrictions on Resale	 	You agree not to sell any option shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.
	 	 	 
	Transfer of Option	 	Prior to your death, only you may exercise this option. You cannot transfer or assign this option. For instance, you may not sell this option or use it as security for a loan. If you attempt to do any of these things, this option will immediately become invalid. You may, however, dispose of this option in your will or by means of a written beneficiary designation; provided, however, that your beneficiary or a representative of your estate acknowledges and agrees in writing in a form reasonably acceptable to the Company, to be bound by the provisions of this Agreement and the Plan as if such beneficiary of the estate were you.  

 

    	 

    	 

    

 

	 	 	Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your former spouse’s interest in your option in any other way.
	 	 	 
	Retention Rights	 	Your option or this Agreement does not give you the right to be retained by the Company, a Parent, Subsidiary, or an Affiliate in any capacity. The Company and its Parents, Subsidiaries, and Affiliates reserve the right to terminate your Service at any time, with or without cause.
	 	 	 
	Stockholder Rights	 	You, or your estate or heirs, have no rights as a stockholder of the Company until you have exercised this option by giving the required notice to the Company, paying the exercise price, and satisfying any applicable withholding taxes. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this option, except as described in the Plan.
	 	 	 
	Recoupment Policy	 	This option, and the shares acquired upon exercise of this option, shall be subject to any Company recoupment policy in effect from time to time.
	 	 	 
	Adjustments	 	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of shares covered by this option and the exercise price per share will be adjusted pursuant to the Plan.
	 	 	 
	Effect of Significant Corporate Transactions	 	If the Company is a party to a merger, consolidation, or certain change in control transactions, then this option will be subject to the applicable provisions of Article 9 of the Plan.
	 	 	 
	Applicable Law	 	This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to its choice-of-law provisions).
	 	 	 
	The Plan and Other 	 	The text of the Plan is incorporated in this Agreement by reference.  
	 	 	 
	Agreements	 	This Plan, this Agreement and the Notice of Stock Option Grant constitute the entire understanding between you and the Company regarding this option. Any prior agreements, commitments or negotiations concerning this option are superseded. This Agreement may be amended only by another written agreement between the parties.

 

BY SIGNING THE COVER SHEET OF THIS AGREEMENT,
YOU AGREE TO ALL OF THE 

TERMS AND CONDITIONS DESCRIBED ABOVE
AND IN THE PLAN.Exhibit 10.10

 

EYEGATE PHARMACEUTICALS, INC. 

2014 EQUITY INCENTIVE PLAN 

NOTICE OF STOCK UNIT AWARD 

 

You have been granted stock units representing
shares of common stock of Eyegate Pharmaceuticals, Inc. (the “Company”) on the following terms:

 

	Name of Recipient:	 	 
	 	 	 
	Total Number of Stock Units Granted:	 	 
	 	 	 
	Date of Grant:	 	 
	 	 	 
	Vesting Commencement Date:	 	 
	 	 	 
	Vesting Schedule:	 	The first             % of the stock units subject to this award will vest when you complete              months of continuous “Service” (as defined in the Plan) after the Vesting Commencement Date. Thereafter, an additional             % of the stock units subject to this award will vest when you complete each additional             -month period of continuous Service.

 

You and the Company agree that these stock units are granted
under and governed by the terms and conditions of the Company’s 2014 Equity Incentive Plan (the “Plan”) and the
Stock Unit Agreement, both of which are attached to, and made a part of, this document.

 

You further agree to accept by email all documents relating
to the Plan or this award (including, without limitation, prospectuses required by the Securities and Exchange Commission) and
all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports
and proxy statements). You also agree that the Company may deliver these documents by posting them on a website maintained by the
Company or by a third party under contract with the Company. If the Company posts these documents on a website, it will notify
you by email.

 

You further agree to comply with the Company’s Securities
Trading Policy when selling shares of the Company’s common stock.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Recipient and the
Company have executed this notice as of the              day
of               ,          .

 

RECIPIENT

 

	 	 
	Printed Name	 
	 	 
	 	 
	Signature	 
	 	 
	 	 
	Address	 

 

	EYEGATE PHARMACEUTICALS, INC.	 

 

	By:	 	 

 

	 	 
	Name	 
	 	 
	 	 
	Title	 

 

    	 

    	 

    

 

EYEGATE PHARMACEUTICALS, INC. 

2014 EQUITY INCENTIVE PLAN 

STOCK UNIT AGREEMENT

 

	 	 	 
	Grant of Units	 	
        Subject to all of the terms and conditions set forth in the
        Notice of Stock Unit Award, this Stock Unit Agreement (the “Agreement”) and the Plan, the Company has granted to you
        the number of stock units set forth in the Notice of Stock Unit Award.

         

        All capitalized terms used in this Agreement shall have the
        meanings assigned to them in this Agreement, the Notice of Stock Unit Award or the Plan.

         

        For all purposes applicable to your stock units, “Service”
        means your continuous service as an Employee or Consultant.

	 	 	 
	Payment for Units	 	No payment is required for the stock units that you are receiving.
	 	 	 
	Vesting	 	The stock units vest in accordance with the vesting schedule set forth in the Notice of Stock Unit Award. No additional stock units will vest after your Service has terminated for any reason.
	 	 	 
	Forfeiture	 	If your Service terminates for any reason, then your stock units will be forfeited to the extent that they have not vested before the termination date and do not vest as a result of the termination of your Service. This means that any stock units that have not vested under this Agreement will be cancelled immediately. You receive no payment for stock units that are forfeited. The Company determines when your Service terminates for all purposes of your stock units.
	 	 	 
	Leaves of Absence and Part-Time Work	 	For purposes of this award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing and if continued crediting of Service is required by applicable law, the Company’s leave of absence policy, or the terms of your leave. However, your Service terminates when the approved leave ends, unless you immediately return to active work.
	 	 	
    If you go on a leave of absence, then the vesting schedule specified in the Notice of Stock Unit Award may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave. If you commence working on a part-time basis, the Company may adjust the vesting schedule so that the rate of vesting is commensurate with your reduced work schedule.
	 	 
	Settlement of Units	 	Each stock unit will be settled on the first Permissible Trading Day that occurs on or after the day when the stock unit vests. However, each stock unit must be settled not later than March 15th of the calendar year following the calendar year in which the stock unit vests.

 

    	 

    	 

    

 

	 	 	
        At the time of settlement, you will receive one share of the
        Company’s common stock for each vested stock unit. But the Company, at its sole discretion, may substitute an equivalent
        amount of cash if the distribution of stock is not reasonably practicable due to the requirements of applicable law. The amount
        of cash will be determined on the basis of the market value of the Company’s common stock at the time of settlement.

         

        No fractional shares will be issued upon settlement.

	 	 	 
	“Permissible Trading Day”	 	
        “Permissible Trading Day” means a day that satisfies
        each of the following requirements:

        • The Nasdaq Capital Market
        is open for trading on that day;

        • You are permitted to sell
        shares of the Company’s common stock on that day without incurring liability under Section 16(b) of the Securities Exchange
        Act of 1934, as amended;

        • Either (a) you are not in
        possession of material non-public information that would make it illegal for you to sell shares of the Company’s common stock
        on that day under Rule 10b-5 of the Securities and Exchange Commission or (b) Rule 10b5-1 of the Securities and Exchange Commission
        is applicable;

        • Under the Company’s
        Securities Trading Policy, you are permitted to sell shares of the Company’s common stock on that day; and

        • You are not prohibited from
        selling shares of the Company’s common stock on that day by a written agreement between you and the Company or a third party.

	 	 	 
	Section 409A	 	
        This paragraph applies only if the Company determines that you
        are a “specified employee,” as defined in the regulations under Code Section 409A at the time of your “separation
        from service,” as defined in Treasury Regulation Section 1.409A-1(h) and it is determined that settlement of these stock
        units is not exempt from Code Section 409A. If this paragraph applies, and the event triggering settlement is your “separation
        from service,” then any stock units that otherwise would have been settled during the first six months following your “separation
        from service” will instead be settled on the first business day following the earlier of (i) the six-month anniversary of
        your separation from service or (ii) your death.

         

        Each installment of stock units that vests is hereby designated
        as a separate payment for purposes of Code Section 409A.

	 	 	 
	Nature of Units	 	Your stock units are mere bookkeeping entries. They represent only the Company’s unfunded and unsecured promise to issue shares of common stock (or distribute cash) on a future date. As a holder of stock units, you have no rights other than the rights of a general creditor of the Company.
	 	 	 
	No Voting Rights or Dividends	 	Your stock units carry neither voting rights nor rights to cash dividends. You have no rights as a stockholder of the Company unless and until your stock units are settled by issuing shares of the Company’s common stock.
	 	 	 
	Units Nontransferable	 	You may not sell, transfer, assign, pledge or otherwise dispose of any stock units. For instance, you may not use your stock units as security for a loan.

 

    	 

    	 

    

 

	Beneficiary Designation	 	You may dispose of your stock units in a written beneficiary designation. A beneficiary designation must be filed with the Company on the proper form. It will be recognized only if it has been received at the Company’s headquarters before your death. If you file no beneficiary designation or if none of your designated beneficiaries survives you, then your estate will receive any vested stock units that you hold at the time of your death.
	 	 	 
	Withholding Taxes	 	
        No stock certificates (or their electronic equivalent) or cash
        will be distributed to you unless you have made arrangements satisfactory to the Company for the payment of any withholding taxes
        that are due as a result of the vesting or settlement of stock units. You may satisfy these withholding obligations by paying cash
        to the Company. At the discretion of the Company, these arrangements may also include (a) payment from the proceeds of the sale
        of shares through a Company-approved broker, (b) withholding shares of Company stock that otherwise would be issued to you when
        the stock units are settled with a fair market value no greater than the minimum amount required to be withheld by law, (c) surrendering
        shares that you previously acquired with a fair market value no greater than the minimum amount required to be withheld by law,
        or (d) withholding cash from other compensation. The fair market value of withheld or surrendered shares, determined as of the
        date when taxes otherwise would have been withheld in cash, will be applied to the withholding taxes.

         

        To the extent you fail to make satisfactory arrangements for
        the payment of any required withholding taxes, you will permanently forfeit the applicable stock units.

	 	 	 
	Restrictions on Resale	 	You agree not to sell any shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.
	 	 	 
	Retention Rights	 	Your award or this Agreement does not give you the right to be retained by the Company, a Parent, Subsidiary, or an Affiliate in any capacity. The Company and its Parents, Subsidiaries, and Affiliates reserve the right to terminate your Service at any time, with or without cause.
	 	 	 
	Adjustments	 	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of your stock units will be adjusted accordingly, as the Company may determine pursuant to the Plan.
	 	 	 
	Effect of Significant Corporate Transactions	 	If the Company is a party to a merger, consolidation, or certain change in control transactions, then your stock units will be subject to the applicable provisions of Article 9 of the Plan, provided that any action taken must either (a) preserve the exemption of your stock units from Code Section 409A or (b) comply with Code Section 409A.

 

    	 

    	 

    

 

	Recoupment Policy	 	This award, and the shares acquired upon settlement of this award, shall be subject to any Company recoupment or clawback policy in effect from time to time.
	 	 	 
	Applicable Law	 	This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to its choice-of-law provisions).
	 	 
	The Plan and Other Agreements	 	
        The text of the Plan is incorporated in this Agreement by reference.

         

        The Plan, this Agreement and the Notice of Stock Unit Award
        constitute the entire understanding between you and the Company regarding this award. Any prior agreements, commitments or negotiations
        concerning this award are superseded. This Agreement may be amended only by another written agreement between the parties.

 

BY SIGNING THE COVER SHEET OF THIS AGREEMENT,
YOU AGREE TO ALL OF THE 

TERMS AND CONDITIONS DESCRIBED ABOVE
AND IN THE PLAN.

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