Document:

EX-10.19

 Exhibit 10.19 

DATED: 3 December 2014 

MIDATECH PHARMA PLC 
 and

 NICHOLAS ROBBINS-CHERRY 
  

 
 SERVICE AGREEMENT 

 
  

 THIS AGREEMENT is made on 3 December 2014 

BETWEEN: 
 MIDATECH PHARMA PLC company number
09216368) whose registered office is at 8 Clifford Street, London W1S 2LQ (the “Company”); and 
 NICHOLAS ROBBINS-CHERRY of c/o
Midatech Pharma PLC Milton Park Innovation Centre, 99 Park Drive, Milton Park, Abingdon OX14 4RY (the “Executive”). 
 RECITAL 

The Company shall employ the Executive and the Executive shall serve the Company as Finance Director of the Company on the following terms and subject to the
following conditions (the “Agreement”): 
 IT IS AGREED AS FOLLOWS: 

 

	1	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Agreement unless the context otherwise requires the following expressions shall have the following meanings: 

“Board” the board of directors for the time being of the Company; 

“Group” the Company and its Subsidiaries for the time being and “Group Company” means any one of them; 

“Regulations” the Working Time Regulations 1998; and 

“Subsidiary” in relation to a company a subsidiary within the meaning of s1159 of the Companies Act 2006 and any other company
which is a subsidiary (as so defined) of a company which is itself a subsidiary of such holding company. 
  

	1.2	Any reference to a statutory provision shall be deemed to include a reference to any statutory modification or re-enactment of it. 

  

	1.3	The headings in this Agreement are for convenience only and shall not affect its construction or interpretation. 

  

	1.4	References in this Agreement to a person include a body corporate and an incorporated association of persons and references to a company include any body corporate. 

 

	1.5	Where appropriate, references to the Executive include his personal representatives. 

  

	2	TERM OF EMPLOYMENT 

  

	2.1	The employment of the Executive shall be deemed to have commenced on 4 February 2014. The employment of the Executive (subject to earlier termination as provided below) shall continue until terminated by either
party giving to the other not less than one year’s notice in writing at any time. 

  

	2.2	The Executive represents and warrants that he is not bound by or subject to any contract, court order, agreement, arrangement or undertaking which in any way restricts or prohibits him from entering into this Agreement
or performing his duties under it. 

	3	DUTIES 

  

	3.1	The Executive shall during his employment under this Agreement: 

  

	 	3.1.1	perform the duties and exercise the powers which the Board may from time to time properly assign to him in his capacity as Chief Executive Officer or in connection with the conduct and management of the business of the
Company or the business of any Group Company (including serving on the board of such Group Company or on any other executive body or any committee of such a company); and 

 

	 	3.1.2	do all in his power to promote, develop and protect the business of the Company and at all times and in all respects conform to and comply with the proper and reasonable directions and regulations of the Board.

  

	3.2	The Executive shall give to the Board such information regarding the affairs of the Company as it shall require, and in any event, report regularly and keep the Board informed. 

 

	3.3	The Executive shall carry out his duties and exercise his powers jointly with any other executives appointed by the Board to act jointly with him and the Board may at any time require the Executive to cease performing
or exercising the said or any duties or powers. 

  

	3.4	The Executive shall be based at the Company’s head office near Abingdon, but the Executive shall travel to and/or work in any place which the Board may reasonably require and he may be required to travel abroad
when required by the Company for the proper performance of his duties. 

  

	4	HOURS OF WORK 

 The Executive shall have no set hours of work but is required to devote
such time to his work as is necessary for the proper performance of his duties and his basic salary referred to in clause 7.1 shall compensate him for this. Normal office hours are 9 am to 5 pm Monday to Friday. 

 

	5	GRATUITIES AND CODES OF CONDUCT 

  

	5.1	The Executive shall not, without prior written consent of Company, directly or indirectly accept any commission, rebate, discount or gratuity in cash or in kind from any person who has or is having a business
relationship with the Company or any Group Company. 

  

	5.2	The Executive shall comply (and procure that his spouse and minor children shall comply) with all applicable rules and regulations of the London Stock Exchange including all AIM rules and regulations, and as applicable
the Listing Rules of the United Kingdom Listing Authority, and any codes of conduct of the Company for the time being in force and any other relevant regulatory authority. 

 

	6	REMUNERATION 

  

	6.1	The Company shall pay to the Executive a salary at the rate of £219,085 gross per year, inclusive of any directors’ fees payable to him. 

 

	6.2	The Executive’s salary shall accrue from day to day and be payable by equal monthly instalments in arrears on or about the last day of each month. 

 

	6.3	 The Executive’s salary shall be reviewed annually following the finalisation of the relevant calendar year’s Annual Reports and Accounts.
The undertaking of a salary review does not 

	 	
confer a contractual right (whether express or implied) to any increase in salary and the Executive acknowledges that any salary increase is at the absolute discretion of the Remuneration
Committee. 

  

	7	BONUS 

 The Executive will be eligible to participate in a discretionary bonus scheme
(the “Scheme”), which terms may be reviewed by the Remuneration Committee from time to time. Decisions as to the calculation and payment of any bonus under the Scheme shall be made at the absolute discretion of the Remuneration
Committee although it is acknowledged that the amount of such bonus will be up to approximately 33 per cent. of the Executive’s annual salary on the satisfaction of certain performance criteria. Payment of bonus on certain terms at any
particular time will not create any entitlement to or expectation of any future payment or the amount or terms of any future payment. The Executive will not have any contractual right to a bonus if he has left the Company’s employment for
whatever reason (whether lawful or unlawful) or has given or received notice of termination, at or prior to the time on which any such bonus would normally be payable. Any bonus awarded will be paid subject to tax and National Insurance in the usual
way. 
  

	8	OTHER BENEFITS 

 The Executive is entitled to such additional benefits (including, but
not limited to, a 10% pension contribution, life insurance and medical insurance) as may be determined by the Board from time to time. 
  

	9	EXPENSES 

 The Company shall reimburse or procure that the Executive is reimbursed all
reasonable travelling, hotel and other expenses wholly and necessarily incurred by him in the performance of his duties under this Agreement on production of appropriate receipts, if required, by the Company. 

 

	10	HOLIDAYS 

  

	10.1	The Executive is entitled to 28 days’ holiday with pay every calendar year in addition to bank and other public holidays. This will rise by one day for each year of completed continuous service (from the
commencement of the Executive’s employment as detailed in Clause 3.1 above) to a maximum of 30 days for continuous service of five years or more. The Company’s holiday year runs from January to December. 

 

	10.2	The Executive’s holiday entitlement is inclusive of his statutory entitlement. When calculating the Executive’s statutory entitlement, bank and public holidays are taken into account. A maximum of three days
of the statutory entitlement can be carried over from one holiday year to the first three months of the next year and pay in lieu of such holidays will be made to the Executive. 

 

	10.3	During the first year of the Executive’s employment the Executive’s statutory holiday entitlement will accrue pro rata monthly in advance. Where this calculation results in fractions of days the amount of
leave which can be taken is rounded up to the next half day. Any rounded up element is deducted from the leave remaining. 

	10.4	Save as provided for in clause 10.3 above, the Executive’s entitlement to holiday accrues pro rata throughout each holiday year (disregarding fractions of days). The Executive will be deemed to have taken statutory
holiday first. 

  

	10.5	Any entitlement to holiday over and above any statutory entitlement remaining at the end of any holiday year shall lapse and no payment in lieu of such holiday will be made for accrued but untaken holiday.

  

	10.6	

  

	 	10.6.1	If the Executive has taken holiday in excess of his entitlement on termination of employment he will be required to give account for it and the Company will make a deduction from his final salary payment accordingly. If
the Executive has accrued holiday owing to him, the Company may at its discretion, require him to take the outstanding holiday during any notice period or make a payment in lieu of it. 

 

	 	10.6.2	For the purposes of clause 10.6.1 above, a day’s pay will be calculated as 1/260th of basic salary. 

 

	10.7	If the Executive’s employment is terminated without notice, he will not be entitled to holiday pay for holiday which would have accrued during the notice period, had he continued to be employed throughout that
time. 

  

	10.8	If the Executive is put on garden leave in accordance with clause 19 any accrued but unused holiday entitlement shall be deemed to be taken during any period of garden leave. 

 

	10.9	Holidays should be taken at such times as the Board shall consider most convenient having regard to the requirements of the Company’s business. 

 

	11	ILLNESS AND KEY MAN INSURANCE 

  

	11.1	The Executive shall continue to be paid during sickness absence (such payment to be inclusive of any statutory sick pay or social security benefits to which he may be entitled) for a total of up to three months in any
six consecutive months and thereafter any additional payments of salary will be at the discretion of the Company. 

  

	11.2	The Executive will cease to accrue holiday, subject to any entitlement under the Regulations if he has been absent due to sickness, for six consecutive weeks or more. 

 

	11.3	If the Executive is incapable of performing his duties by reason of injury sustained wholly or partly as a result of negligence, nuisance or breach of any statutory duty on the part of a third party and the Executive
recovers an amount by way of compensation for loss of earnings from that third party, he shall pay to the Company an amount equivalent to the amount of sick pay he has received from the Company or such lesser amount as he received in compensation.

  

	11.4	The Company shall be entitled to require the Executive to undergo examinations by a medical adviser appointed or approved by the Company and the Executive authorises the medical adviser and/or will provide such consents
as are necessary to disclose to the Company the results of such examinations. 

  

	11.5	 The Executive hereby covenants with the Company on behalf of himself and his personal representatives at all times fully and effectively to comply
with the terms of any insurance policy 

	 	
taken out by the Company or any Group Company on his life or in respect of his position as a director and/or office of the Company and further undertakes (notwithstanding that his Agreement has
been terminated or has come to an end) to co-operate fully with and assist the Company or any applicable Group Company in relation to any claim(s) made or to be made in connection with such insurance policy (including without limitation submitting
to a medical examination). 

  

	11.6	In the event that the Executive is unable to perform his duties hereunder through illness or other incapacity for any continuous period of three months or an aggregated period exceeding 100 working days in any period of
12 months, notwithstanding any other provision of this Agreement, the Company may terminate the Executive’s employment upon six months’ written notice to him and during that period the Executive shall not have any entitlement to receive
his salary or any bonus payment but shall otherwise be entitled to his contractual benefits under this Agreement. 

  

	12	RESTRICTIONS DURING EMPLOYMENT 

  

	12.1	During the continuance of his employment under this Agreement the Executive shall unless prevented by incapacity devote his whole time and attention to the business of the Company and shall not without the prior written
consent of the Board: 

  

	 	12.1.1	engage in any other business; or 

  

	 	12.1.2	be concerned or interested in any other business which is or shall be of a similar nature to or competitive with that carried on by the Company or any Group Company or which is a supplier or customer of the Company or
Group Company in relation to its services; or 

  

	 	12.1.3	solicit the custom of, canvass, approach or deal with, in competition with the Company or any Group Company, any person (including any company, firm, organisation or other entity) to whom the Company or any Group
Company supplies services or with whom the Company or any Group Company is in negotiations or discussions regarding the possible supply of services; or 

  

	 	12.1.4	discourage any such person referred to in clause 12.1.3 above from conducting or continuing to conduct business with the Company or any Group Company on the best terms available to the Company or any Group Company; or

  

	 	12.1.5	induce or attempt to induce any director or senior employee of the Company or any Group Company and with whom the Executive has material dealings in the course of his employment, to leave the employment of the Company
or any Group Company; or 

  

	 	12.1.6	take any steps which impair or might reasonably be thought by the Company, to impair the Executive’s ability to act at all times in the best interests of the Company, 

provided that nothing in this clause shall preclude the Executive from holding or being otherwise interested in any shares or other securities
of any company which is quoted on any recognised investment exchange (as defined by section 285 Financial Services and Markets Act 2000) so long as the interest of the Executive in such shares or other securities does not extend to more than three
per cent. of the total amount of such shares or securities. 

	13	INTELLECTUAL PROPERTY 

  

	13.1	“Intellectual Property” shall mean all inventions, patents, utility models, designs (both registered or unregistered and including rights relating to semi-conductor topographies), database right,
copyright, and trade marks (both registered and unregistered) together with all rights to the grant of and applications for the same and including all similar or analogous rights and all other rights in the nature of intellectual and industrial
property throughout the world and all future rights of such nature. 

  

	13.2	For the purpose of interpreting this clause, reference(s) to any form of Intellectual Property shall include all similar and analogous rights in other jurisdictions and all other rights in the nature of intellectual and
industrial property that protect the same or similar subject matter. 

  

	13.3	If the Executive makes, or if the Executive participates in making, any invention, any design (whether registrable or not), or any work in which copyright and/or database rights subsist and which relates to or is useful
in connection with the business of the Company or the Group, the Executive shall disclose it to the Company immediately, whether or not it is the property of the Company or any Group Company and: 

 

	 	13.3.1	in the case of an invention give the Company full particulars of the invention together with everything embodying, recording (in any media) or relating to the invention, irrespective of the nature of the invention or
when it was made; and 

  

	 	13.3.2	in the case of designs or works in which copyright and/or database right subsists, give the Company a copy of all records of such designs and works; and 

 

	 	13.3.3	and, in addition, the Company may call for the same to be delivered forthwith to an authorised representative at any time. 

  

	13.4	If an invention made by the Executive is the property of the Company or any Group Company under Section 39 Patents Act 1977 the Executive assigns to the Company (or Group Company) with full title guarantee all
rights the Executive may have to the invention, to the grant of protection and all applications for protection in respect of that invention. 

  

	13.5	The Company shall not be under any obligation to apply for or maintain protection in respect of any invention made by the Executive. 

 

	13.6	If any invention is the Executive’s property under Section 39 Patents Act 1977 and relates to or is useful in connection with the business or any product or service of the Company or Group the Executive shall
not grant or agree to grant a licence or other rights or execute or agree to execute an assignment in respect of any rights in or relating to that invention to any other person without first offering to grant a licence (or such other rights) or
execute an assignment for the benefit of the Company (or Group Company) on terms no less favourable than those offered to the third party, and the Company (or Group Company) shall have fifteen working days in which to accept or reject the offer.

  

	13.7	 If during the course of the Executive’s employment by the Company (whether in the course of normal duties or not and whether or not during normal
working hours) the Executive makes, or participates in the making of any design (whether registrable or not) or any work in which copyright and/or database right subsists the Executive assigns to the Company with full title guarantee and, where
appropriate, by way of future assignment, all such rights for the full term 

	 	
thereof throughout the world. The assignment shall not extend to those designs or works which are created by him wholly outside his normal working hours and wholly unconcerned with his service
under this Agreement. Any agreement to the contrary is expressly excluded. If by operation of law it is not possible for the Executive to assign such rights in a territory outside the United Kingdom the Executive shall hold such rights on trust for
the Company and shall grant to the Company such rights as most closely resemble an assignment in the territory concerned. 

  

	13.8	The Executive shall execute all documents and do all things which are necessary or desirable for perfecting the assignment of all rights assigned to the Company or any Group Company pursuant to this clause 14 and for
obtaining the best possible protection in respect of such rights in the territories specified by the Company. The Executive shall assign to the Company all such rights as are not already held by the Company in all subsequent registrations and
applications for registration. 

  

	13.9	All embodiments of rights assigned under this clause 14 and all records relating to such rights irrespective of the form or media shall be the property of the Company, the Executive shall surrender them to the Company
on the termination of this Agreement or at the request of the Company at any time during the Executive’s employment, and shall not keep any copies. 

  

	13.10	The Executive irrevocably appoints the Company to be his attorney in his name and on his behalf to sign or execute any document or do anything generally to use his name for the purpose of giving to the Company the full
benefit of the provisions of this clause 14 and in favour of any third party a certificate in writing signed by any director or the secretary of the Company that any document or act falls within the authority conferred by this clause shall be
conclusive evidence that that is the case. 

  

	13.11	The Executive waives all moral rights and all similar and analogous rights in other territories (whether arising under Chapter IV of the Copyright Designs and Patents Act 1988 or otherwise) to the extent permissible
under the relevant legislation in each jurisdiction in works to which clause 14 applies. 

  

	13.12	The Executive warrants that he is not bound by any legally enforceable obligations owed to persons other than the Company which would prevent him from complying with the terms of this Agreement. The Executive shall not
without proper licence use any inventions or information in breach of rights owed to or held by persons other than the Company or copy or adapt copyright works or designs or unlawfully extract or re-utilise all or a substantial part of a database
owned (in each case) by persons other than the Company or otherwise infringe any rights in Intellectual Property owned by people other than the Company. 

  

	13.13	The Executive shall not exploit or attempt to exploit any Intellectual Property which is the property of the Company or any Group Company without the prior written consent of the Company nor shall the Executive do
anything that would imperil or prejudice any rights in any of the same, and the Executive shall immediately inform the Company if the Executive becomes aware of any infringement of any of the same. 

 

	13.14	If and when required to do so by the Company, the Executive shall provide reasonable assistance to defend any proceedings in respect of revocation, invalidity and/or infringement of any and all rights that are assigned
or licensed to the Company under this clause 14. 

  

	13.15	All the provisions of this clause 14 shall survive termination of the Executive’s employment insofar as they relate to rights that were created before the date of termination of this Agreement. 

	14	CONFIDENTIALITY 

  

	14.1	The Executive shall not (except in the proper performance of his duties) during or after his employment has ended directly or indirectly divulge to any person or otherwise make use of (and shall use his best endeavours
to prevent the publication or disclosure of) any trade secret or any confidential information concerning the business or finances of the Company or any Group Company or any of its/their dealings transactions or affairs or any such confidential
information concerning any of their suppliers, agents, distributors or clients. 

  

	14.2	Confidential information includes, but is not limited to: 

  

	 	14.2.1	corporate and marketing strategy, business development and plans, sales reports and research results; 

  

	 	14.2.2	business methods and processes, manuals and operating procedures, technical information and know-how relating to the Group’s business and which is not in the public domain, including inventions, designs, programs,
techniques, database systems, formulae and ideas; 

  

	 	14.2.3	business contacts, lists of commercial customers, advertisers and suppliers and details of contracts with them and their current or future requirements; 

 

	 	14.2.4	information on employees and their terms of employment; 

  

	 	14.2.5	sales, expenditure levels, pricing and discounting policies; 

  

	 	14.2.6	budgets, management accounts, trading statements and other financial reports; 

  

	 	14.2.7	unpublished price sensitive information relating to shares or securities listed or dealt in on any recognised stock exchange; and 

  

	 	14.2.8	any document marked “confidential”, identified to the Executive as confidential or any information not in the public domain. 

 

	14.3	The restrictions in clauses 14.1 and 14.2 shall not apply to information which: 

  

	 	14.3.1	comes into the public domain otherwise than by a breach by the Executive of his obligations under this Agreement; or 

  

	 	14.3.2	is disclosed to the Executive by a third party who has not received it directly or indirectly from the Company or any Group Company; or 

 

	 	14.3.3	must be disclosed by any applicable law, to the extent of such required disclosure. 

  

	14.4	Notwithstanding the obligations and restrictions contained in this clause 15, noting in this Agreement shall operate to prevent the Executive making a “protected disclosure” pursuant to Part IVA of the
Employment Rights Act 1996. 

	15	DATA PROTECTION 

  

	15.1	The Executive acknowledges that the Company will hold personal data relating to the Executive such data will include the Executive’s employment application, address, references, bank details, performance
appraisals, work, holiday and sickness records, next of kin, salary reviews, remuneration details and other records (which may, where necessary, include sensitive personal data relating to the Executive’s health, and data held for equal
opportunities purposes). The Company will hold such personal data for personnel administration and management purposes and to comply with the obligations regarding the retention of Executive/worker records. The Executive’s right of access to
such data is as prescribed by law. 

  

	15.2	The Executive hereby undertakes and agrees that the Company may process personal data relating to personnel administration and management purposes, and may, when necessary for those purposes, make such data available to
its advisers, to third parties providing products and/or services to the Company (such as IT systems suppliers, pensions, benefits and payroll administrators) and as required by law. Further, the Executive hereby agrees that the Company may transfer
such data to and from any Group Company. By signing this Agreement, the Executive expressly consents to the collection, transfer and use of such data in accordance with this clause 15. 

 

	16	MONITORING 

 The Executive shall have access to e-mail and the internet for the better
performance of his duties and he shall comply with the Company’s stated e-mail and internet policy from time to time and in any event the Executive shall not send any e-mails of a defamatory or abusive nature or which constitute sexual, racial
or any other form of harassment and he shall be prohibited from downloading any pornographic or other offensive material and the Executive shall indemnify the Company during and after his employment against all liability resulting from the
Executive’s breach of this clause. The Company reserves the right to monitor all email/internet activity by the Executive. 
  

	17	TERMINATION OF EMPLOYMENT 

  

	17.1	The Company may at any time and in its absolute discretion (whether or not any notice of termination has been given by the Company or the Executive under clause 3 above) terminate the Agreement with immediate effect and
make a payment in lieu of notice. This payment shall comprise solely the Executive’s basic salary (at the rate payable when this option is exercised) but shall not include any bonus or other benefits and shall be subject to deductions for
income tax and national insurance contributions as appropriate (the “Payment in Lieu”). The Executive will not, under any circumstances, have any right to the Payment in Lieu unless the Company has exercised its option to pay in
lieu of notice. 

  

	17.2	The employment of the Executive may be terminated by the Company without notice or payment in lieu of notice if the Executive: 

  

	 	17.2.1	is guilty of any serious misconduct or any other conduct which affects or is likely to affect prejudicially the interests of the Company or any Group Company; or 

	 	17.2.2	fails or neglects efficiently and diligently to discharge his duties or commits any serious or repeated breach or non-observance of any of the provisions contained in this Agreement or any Share Dealing Code adopted by
the Company or Group; or 

  

	 	17.2.3	has an interim receiving order made against him, becomes bankrupt or makes any composition or enters into any deed of arrangement with his creditors; or 

 

	 	17.2.4	is charged with any arrestable criminal offence (other than an offence under road traffic legislation in the United Kingdom or elsewhere for which a fine or non-custodial penalty is imposed); or 

 

	 	17.2.5	is disqualified from holding office in any company by reason of an order of a court of competent jurisdiction; or 

  

	 	17.2.6	shall become of unsound mind or become a patient under any statute relating to mental health; or 

  

	 	17.2.7	is convicted of an offence under the Criminal Justice Act 1993 in relation to insider dealings or under any other present or future statutory enactment or regulations relating to insider dealings; or 

 

	 	17.2.8	is in breach of the Model Code on directors’ dealings in listed securities, including securities trading on AIM, published by the London Stock Exchange Limited; or 

 

	 	17.2.9	commits any other act warranting summary termination at common law including (but not limited to) any act justifying dismissal without notice in the terms of the Company’s generally-applicable disciplinary rules.

  

	17.3	Any delay by the Company in exercising the right to terminate without notice is not a waiver thereof. 

  

	18	SUSPENSION 

 The Company may suspend the Executive on full pay for such time as is
reasonable in all the circumstances, to allow the Company to investigate any complaint made against the Executive in relation to his employment with the Company and/or pending the outcome of any disciplinary proceedings. 

 

	19	GARDEN LEAVE 

  

	19.1	Provided the Executive continues to enjoy his full contractual benefits and receive his pay in accordance with this Agreement, the Company may in its absolute discretion do all or any of the following during any period
of notice or any part of the notice period, after the Executive or the Company has given notice of termination to the other, without breaching this Agreement or incurring any liability or giving rise to any claim against it: 

 

	 	19.1.1	exclude the Executive from the premises of the Company and/or the Group; 

  

	 	19.1.2	require the Executive to carry out only specified duties (consistent with his status, role and experience) whether or not different to his normal duties or to carry out no duties; 

	 	19.1.3	announce to any or all of its employees, suppliers, customers and business partners that the Executive has been given notice of termination or has resigned (as the case may be); 

 

	 	19.1.4	prohibit the Executive from communicating in any way with any or all of the suppliers, customers, business partners, employees, agents or representatives of the Company or the Group until his employment has terminated
except to the extent he is authorised to do so by the Board in writing; 

  

	 	19.1.5	require the Executive to resign his directorship of any Group Company; and/or 

  

	 	19.1.6	require the Executive to comply with any other reasonable conditions imposed by the Company. 

The Executive will continue to be bound by all obligations (whether express or implied) owed to the Company under the terms of the Agreement or
as an employee of the Company. Including but not limited to his duty of care, fidelity, obedience and good faith. 
  

	20	RESIGNATION AND RETURN OF COMPANY PROPERTY 

  

	20.1	Upon the termination by whatever means of this Agreement the Executive shall: 

  

	 	20.1.1	immediately resign from his office as a director of the Company and from such offices held by him in any Group Company without claim for compensation; and 

 

	 	20.1.2	immediately deliver to the Company all credit cards, motor-cars, keys, computer media and other Company property or Group Company property, in whatever form, of or relating to the business of the Company or of any Group
Company which may be in his possession or under his power or control. 

  

	20.2	If the Executive fails to comply with clause 19.1.5 and 20.1.1 the Company is hereby irrevocably authorised to appoint some person in his name and on his behalf to sign and complete any documents or do any thing
necessary to give effect to this clause. 

  

	20.3	The Executive shall not without the consent of the Company at any time after the termination of this Agreement represent himself still to be connected with the Company or any Group Company. 

 

	21	RECONSTRUCTION OR AMALGAMATION 

 If the employment of the Executive under this Agreement
is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation and the Executive is offered employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and
conditions not less favourable than the terms of this Agreement then the Executive shall have no claim against the Company or any Group Company in respect of the termination of his employment under this Agreement. 

 

	22	RESTRICTIONS 

  

	22.1	Definitions 

 In this clause the following words shall have the following meanings: 

“Termination Date” the date on which the Executive’s employment terminates; 

 “Person” includes any company, firm, organisation or other entity; 

“Area” any country where on the Termination Date the Company was supplying services; 

“Client” any Person to whom the Company or a Group Company supplied services during the six months preceding the Termination
Date and with whom at any time during such period the Executive was actively involved in the course of his employment; 

“Prospective Client” any Person with whom the Company or a Group Company had negotiations or discussions regarding the
possible supply of services during the six months immediately preceding the Termination Date and with whom at any time during such period the Executive was actively involved in the course of his employment; 

“Employee” means any director of the Company or any Group Company and/or any person employed by or who renders services to the
Company or any Group Company and who has Client responsibility or influence over Clients or Prospective Clients and/or who is in possession of confidential information (as defined above) and who in any such case was so employed or so rendered
services during the period of six months prior to the Termination Date and had dealings with the Executive during that period; and 

“Supplier” means any person firm or company who is or was at any time during the six months preceding the Termination Date a
supplier or procurer of goods and/or services to the Company or any Group Company. 
  

	22.2	In order to protect the goodwill, confidential information, trade secrets and business connections of the Company or any Group Company the Executive covenants with the Company (and as trustee for each Group Company)
that: 

  

	 	22.2.1	Non-competition 

 the Executive shall not during his employment or for a period of six
months from the Termination Date directly or indirectly be interested or concerned in any business which is carried on in the Area and which: 
  

	 	(a)	concerns the business carried on by the Group in the six months preceding the Completion Date and as carried on or otherwise contemplated by the Group during the Relevant Period; or 

 

	 	(b)	is competitive or likely to be competitive with the business of the Company or a Group Company being carried on at the Termination Date and with which the Executive was actively involved at any time during the six
months ending on the Termination Date. 

 For this purpose, the Executive is concerned in a business if: 

 

	 	(a)	he carries it on as principal or agent; or 

  

	 	(b)	he is a partner, director, employee, secondee, consultant or agent in, of or to any Person who carries on the business; or 

  

	 	(c)	subject to clause 13 above, he has any direct or indirect financial interest (as shareholder or otherwise) in any Person who carries on the business. 

	 	22.2.2	Non-solicitation/Dealing 

 the Executive shall not during his employment or for a period
of twelve months from the Termination Date in the Area directly or indirectly: 
  

	 	(a)	canvass or solicit business or approach any Clients or Prospective Clients in respect of services similar to those being provided by the Company or a Group Company as at the Termination Date; 

 

	 	(b)	seek to do business or deal with any Clients or Prospective Clients in respect of services similar to those being provided by the Company or a Group Company as at the Termination Date; or 

 

	 	(c)	canvass or solicit business from or make an approach to any supplier of the Company or a Group Company with whom the Executive was actively involved at any time during the six months ending on the Termination Date to
cease to supply, or to restrict or vary the terms of supply to the Company or a Group Company or otherwise interfere with the relationship between such a supplier and the Company or a Group Company. 

 

	 	22.2.3	Non-poaching 

 the Executive shall not during his employment or for a period of twelve
months after the Termination Date directly or indirectly: 
  

	 	(a)	induce or attempt to induce any Employee of the Company or a Group Company to leave the employment of the Company or a Group Company (whether or not this would be a breach of contract by that employee) for the purposes
of being involved in or engaged in the types of business referred to in sub-clauses 22.2.1(a) and 22.2.1(b) above; or 

  

	 	(b)	engage, attempt to engage, employ, attempt to employ or offer employment or work (and in each case whether directly or indirectly, including through an employment agency or other intermediary) to any Employee for the
purposes of being involved in or engaged in the types of business referred to in sub-clauses 22.2.1(a) and 22.2.1(b) above. 

Non-interference 
 The
Executive shall not during his employment or for a period of twelve months after the Termination Date to the detriment of the Company or any Group Company, directly or indirectly persuade or endeavour to persuade any Relevant Supplier to cease doing
business or materially reduce its business with the Company or any Group Company. 
 Non-disparagement 

The Executive shall not at any time (whether during or after the termination of his employment) make whether directly or indirectly any
untrue, misleading or derogatory oral or written statement concerning the business, affairs, officers or employees of the Company or any Group Company. 

 Non-association 

The Executive shall not (except with the prior written consent of the Company) at any time after the termination of his employment represent
himself to be connected with or interested in the business of or employed by the Company or any Group Company or use for any purpose the name of the Company or any Group Company or any name capable of confusion therewith. 

 

	22.3	The restrictions in this clause are considered by the parties to be reasonable and the validity of each sub-clause shall not be affected if any of the others is judged to be invalid. If any of the restrictions are void
but would be valid if some part of the restriction were deleted, the restriction in question shall apply with such modification as may be necessary to make it valid. 

 

	22.4	The Executive acknowledges that the provisions of this clause are no more extensive than is reasonable to protect the legitimate business interests of the Company or the Group. 

 

	23	SEVERABILITY 

 If any of the provisions of this Agreement become invalid or unenforceable
for any reason by virtue of applicable law the remaining provisions shall continue in full force and effect and the Company and the Executive hereby undertake to use all reasonable endeavours to replace any legally invalid or unenforceable provision
with a provision which will promise to the parties (as far as practicable) the same commercial results as were intended or contemplated by the original provision. 
  

	24	THIRD PARTIES 

 Unless the right of enforcement is expressly granted, it is not intended
that a third party should have the right to enforce the provisions of this Agreement pursuant to the Contracts (Rights of Third Parties) Act 1999. 
  

	25	NOTICES 

  

	25.1	Any notice required or permitted to be given under this Agreement shall be given in writing delivered personally or sent by first class post pre-paid recorded delivery (air mail if overseas) or by facsimile to the party
due to receive such notice at, in the case of the Company, its registered office from time to time and, in the case of the Executive, his address as set out in this Agreement (or such address as he may have notified to the Company in accordance with
this clause). 

  

	25.2	Any notice delivered personally shall be deemed to be received when delivered to the address provided in this Agreement and any notice sent by pre-paid recorded delivery post shall be deemed (in the absence of evidence
of earlier receipt) to be received two days after posting and in proving the time of despatch it shall be sufficient to show that the envelope containing such notice was properly addressed, stamped and posted. A notice sent by facsimile shall be
deemed to have been received on receipt by the sender of confirmation in the transmission report that the facsimile had been sent. 

	26	GRIEVANCE AND DISCIPLINARY PROCEDURES 

  

	26.1	In the event of the Executive wishing to seek redress of any grievance relating to his employment he should lay his grievance before the Board in writing, who will afford the Executive the opportunity of a full hearing
before the Board or a committee of the Board whose decision on such grievance shall be final and binding. 

  

	26.2	The Company’s usual disciplinary procedures do not apply to the Executive. In the event that any disciplinary action is to be taken against the Executive, any hearing in respect thereof will be conducted by such
director of the Company or any Group Company as the Board may in its reasonable discretion nominate. If the Executive seeks to appeal against any disciplinary action taken against him he should do so to the Board submitting full written grounds for
his appeal to the Chairman within thirty days of the action appealed against. The decision of the Board or a delegated committee therefore shall be final and binding. For the avoidance of doubt, the Executive has no contractual right to either a
disciplinary hearing or appeal. 

  

	26.3	The Company may in its absolute discretion suspend the Executive from some or all of his duties and from the Board and/or require him to remain away from work during any investigation conducted into an allegation
relation to the Executive’s conduct or performance. During such period, the Executive’s salary and contractual benefits will continue to be paid and provided. 

 

	27	MISCELLANEOUS 

  

	27.1	This Agreement is governed by and shall be construed in accordance with the laws of England. 

  

	27.2	The parties to this Agreement submit to the exclusive jurisdiction of the English courts. 

  

	27.3	This Agreement contains the entire understanding between the parties and supersedes all previous agreements and arrangements (if any) relating to the employment of the Executive by the Company or any Group Company
(which shall be deemed hereby to have been terminated by mutual consent and without compensation). By executing this Agreement, the Executive confirms and warrants that there are no outstanding payments or benefits owed to him under any prior
agreement or understanding with the Company or any Group Company. 

  

	27.4	The Company is not a party to any collective agreements which affect the Executive’s employment. 

  

	27.5	The Executive authorises the Company to deduct from any remuneration payable to the Executive under this Agreement any sums due from him to the Company or any Group Company including the cost of repairing any damage to
Company or any Group Company property caused by the Executive. 

					
	Signed as a Deed by MIDATECH PHARMA PLC acting by:	 		 	
			
	Director	 		 	 /s/ Dr. James Phillips

			
	Director/Company Secretary	 		 	Director
			
	Signed as a Deed by Nick Robbins-Cherry in the presence of:	 		 	 /s/ Nicholas Robbins-Cherry

			
	Witness signature:	 		 	 /s/ Peter Wozny

			
	Name:	 		 	Peter WoznyEX-10.20

 Exhibit 10.20 

DATED: 15 April 2014 
 TERMS OF
APPOINTMENT 
 (By way of Deed) 

Between: 
 (1) MIDATECH LTD 

and 
 (2) ROLF STAHEL 

 This Agreement is dated the 15th day of April 2014 

BETWEEN: 
  

	(1)	Midatech Ltd a company registered in England under number 04097593 whose address is at 4-5 Dunmore Court, Wotton Road, Abingdon. Oxford, OX13 6BH, UK (the “Company”); and 

 

	(2)	ROLF STAHEL of Neatham, Sleepers Hill, Winchester, Hants, SO22 4NB, UK (“You/you”). 

  

	1.	TERMS OF APPOINTMENT 

  

	1.1	You agree to your appointment as a non-executive director of the Company and as Chairman of the Board (as defined below) and the Company agrees to your appointment on the terms and conditions of appointment set out in
this agreement. You agree to chair or serve on such other committees of the Company as the Board may determine from time to time and acknowledge that no additional fees will be due to you for performing such additional duties. 

 

	1.2	Your appointment under this agreement commenced on 1st March 2014. Subject to the terms of this agreement, your appointment shall be for an initial fixed term of twelve (12) months and will terminate on
28 February 2015 without the need for notice (“the Initial Fixed Term”). Any continuance of your appointment after the Initial Fixed Term will be subject to re-election by the directors of the Company on an annual basis. Your
appointment may be terminated earlier: 

  

	 	1.2.1	by either party to this agreement giving to the other party not less than three (3) months’ written notice expiring on or after the end of the Initial Fixed Term; 

 

	 	1.2.2	at any time in accordance with clause 9 of this agreement; or 

  

	 	1.2.3	at any time in accordance with clause 14 of this agreement; or 

  

	 	1.2.4	if, after the expiry of the Initial Fixed Term, you fail to be re-elected as a non-executive director by the directors of the Company. 

 

	1.3	You agree that you have no right to be appointed to or to remain a member or the chairman of any particular committee of the Board (including, but not limited to, the Audit Committee, the Compensation Committee and the
Nomination Committee) and that your removal from any such committee to which you are appointed shall not constitute a breach of this agreement. 

  

	1.4	 You shall, unless prevented by sickness or ill-health and subject always to clause 1.5, properly perform such duties as are appropriate to your role
as a non-executive director, Chairman of the Board and as the chairman or as a member of any other committees of the Board to which you may be appointed from time to time, including, without limitation: preparing for, attending and chairing all
meetings of the Board and of the members of the Company (e.g. annual meetings and extraordinary annual meetings of the Company); preparing for and attending all meetings of any committee to which you may

	 	
be appointed; attending regular meetings with the Company’s major shareholders to obtain their views; leading discussions of the Board in relation to corporate strategy; ensuring that all
members of the Board receive accurate, timely and clear information concerning the operations and performance of the Company and its Group Companies; preparing agendas for meetings of the Board and the members; assessing the performance of the Board
and each individual director of the Company; and reviewing and providing comments in relation to documents or minutes distributed to you following such meetings. 

  

	1.5	You agree to make yourself available to attend to your duties for the Company for ten (10) full working days per calendar year at such times and places as are reasonably necessary for the effective and efficient
performance of your duties provided that they do not conflict with your other commitments to third parties. For the avoidance of doubt, eight hours shall constitute a full working day (and such hours need not be worked consecutively or on the same
calendar day) and time spent travelling shall be counted as working time. The Company shall, after consultation with you, provide you with reasonable notice of the dates of all meetings which you shall be required to attend and shall use its
reasonable endeavours to ensure that meetings of any committee to which you are appointed take place immediately before or after Board meetings. For any year during which the agreement is effective for less than 12 months, the number of days of
service you are to provide, will be calculated pro rata to the number of months that this agreement is effective in that calendar year. 

  

	1.6	You will comply with all lawful and reasonable directions of the Board and all rules and regulations of the Company provided, in each case, they have been notified to you, including without limitation, regulations with
respect to confidentiality, dealings in shares and notifications required to be made by a director to the Company or any relevant regulatory body, whether under the company laws of England, or the Companies Act, the Articles or otherwise.

  

	1.7	You shall act in good faith and in the best interests of the Company and exercise all reasonable skill and care in the performance of your duties. 

 

	1.8	You confirm that you are aware of your fiduciary duties as a director and your continuing duty to avoid a conflict between your personal and outside interests and the interests of the Company. The Company acknowledges
that you have disclosed certain existing interests to it, as referenced in clause 9.1 of this agreement and that, based on the information you have provided to the Company, there appears to be no conflict of interests. 

 

	1.9	You consent to the Company holding and processing personal data, including sensitive personal data relating to you (“processing”, personal data” and “sensitive personal data” are as defined in
the Data Protection Act 1998) to the extent reasonably necessary for legal, personnel, administrative, financial, regulatory, payroll, management and other purposes relating to or ancillary to your appointment. You agree that the Company may
disclose such information to other companies within the Group and to third parties in the event that such disclosure is in the Company’s view required for the proper conduct of the Company’s or the Group’s business. This applies to
information held, used or disclosed in any medium and whether the use or processing of data is within or outside the European Union 

  
 2 

	2.	REMUNERATION 

  

	2.1	In consideration of you performing your duties for the Company, the Company shall pay you director’s fees at the rate of fifty thousand pounds (£50,000) per annum. Such director’s fees shall be paid
by equal monthly instalments and shall be subject to deductions for income tax, national insurance contributions and other deductions required by law. The rate of such director’s fees shall be reviewed annually by the Remuneration Committee in
its discretion. The Remuneration Committee shall be under no obligation to increase the rate of director’s fees paid to you as a result of any such review but such fees may not be reduced. 

 

	2.2	You will not, unless you are notified by the Company in writing at any time, be entitled to participate in the Company’s pension scheme or employee benefits schemes other than stated under clause 3. below

  

	3.	RESTRICTED SHARES  

  

	3.1	Subject to the conditions contained in this clause 3, the Company will, on execution of this Agreement, grant you options (“Options”) to acquire a total of 244,881 ordinary shares, equivalent to 4% of the
fully diluted ordinary shares of £0.0001 per share in the capital of the Company (“Shares”). The Shares acquired on exercise of the Options will be subject to the restrictions and will be repurchased in the circumstances
referred to in clause 3.4 below. So long as the restrictions referred to in clause 3.4 apply to any Shares, those Shares are referred to as “Restricted Shares”. 

 

	3.2.	The Options shall be granted on the basis that: 

  

	 	3.2.1.	The exercise price of each Option will be £0.15p per Share; 

  

	 	3.2.2	The Option may be exercised at any time within one month from the date of grant and if not so exercised will lapse; 

  

	 	3.2.3	In the event of your death prior to exercise, the Options may be exercised by your validly appointed personal representatives during the period of six months following the date of your death (or such longer period not
exceeding 12 months determined by the Board prior to the expiry of that six month period). 

  

	3.3	Prior to or within 14 days after exercise of the Options, both you and the Company will enter into an election under Section 431(1) Income Tax (Earnings and Pensions) Act 2003 in respect of all the Restricted
Shares acquired on exercise. 

  

	3.4.	The Restricted Shares may not be transferred (other than to your personal representatives on death) and your interest in them may not be assigned or charged. These restrictions applicable to them will be released and
they will cease to be Restricted Shares as follows: 

  

	3.4.1	Tranche One: 

 Tranche One consists of 122,441 Restricted Shares. The restrictions set out
above will cease to apply to one-quarter of those Restricted Shares on each 

  
 3 

 
anniversary of this agreement (and they will therefore to that extent cease to be Restricted Shares). In the event of termination of this agreement (howsoever arising), the restrictions will
cease to apply to all Tranche One Shares immediately on the date of termination of this agreement, except that any Tranche One Shares which remain Restricted Shares will be repurchased in accordance with clause 3.5 if the Company terminates your
appointment in circumstances amounting to fraud or gross negligence on your part; and 
  

	3.4.2.	Tranche Two: 

 Tranche Two consists of 61,220 Restricted Shares. The restrictions attaching to
those Restricted Shares will cease to apply on the occurrence of a Trigger Event, as defined below, subject to the value of the Company having reached at any time on or before that Trigger Event a Market Capitalisation Value, as defined below, of at
least £155m. However, should a Market Capitalisation Value of at least £155m only be realised in accordance with clause 3.4.5 then the restrictions applying to the Tranche Two Restricted Shares will cease to apply and they will cease to
be Restricted Shares on the date at which any contingent value rights or other deferred consideration actually reach maturity. 
 If the
Company has not at any time on or before that Trigger Event reached a Market Capitalisation Value of at least £155m then the Restricted Shares shall be repurchased in accordance with clause 3.5 on the date of the Trigger Event (or where there
is an Independent Valuation on the date on which that Independent Valuation is completed). Where there are contingent value rights or other deferred consideration the Restricted Shares will be repurchased on the date on which they reach maturity if
the relevant Market Capitalisation Value has not been achieved. 
  

	3.4.3.	Tranche Three 

 Tranche Three consists of 61,220 Restricted Shares. The restrictions attaching
to those Restricted Shares will cease to apply on the occurrence of a Trigger Event, as defined below, subject to the Company having reached at any time on or before that Trigger Event a Market Capitalisation Value, as defined below, of at least
£ 213 m. However, should a Market Capitalisation Value of at least £213m only be realised in accordance with clause 3.4.5 then the restrictions applying to the Tranche Three Restricted Shares will cease to apply and they will cease to be
Restricted Shares on the date at which any contingent value rights or other deferred consideration actually reach maturity; 
 If the
Company has not at any time on or before that Trigger Event reached a Market Capitalisation Value of at least £213m then the Restricted Shares shall be repurchased in accordance with clause 3.5 on the date of the Trigger Event (or where there
is an independent valuation on the date on which that Independent Valuation is completed). Where there are contingent value rights or other deferred consideration the Restricted Shares will be repurchased on the date on which they reach maturity if
the relevant Market Capitalisation Value has not been achieved. 

  
 4 

	3.4.4	The Market Capitalisation Value 

 Market Capitalisation Value as referred to under Tranche Two
and Tranche Three above is defined as: 
 a) where the Company is subject to an IPO prior to the fourth anniversary of the date of this
agreement, the price at which the Shares are offered/sold under the IPO multiplied by the number of Shares in issue (excluding for this purpose new shares issued on the IPO); or 

b) the aggregate value received by shareholders on a Trade Sale of the Shares in the Company or of its business or on the merger of the
Company with any other company prior to the fourth anniversary of the date of this agreement; or 
 c) the value based on an Independent
Valuation of the Shares in the Company as at the Relevant Date. 
  

	3.4.5	In all cases referred to in clauses 3.4.4 (a) to (c) above the value of any contingent value rights or other deferred consideration on maturity, whether or not they have matured at the time of the Trigger
Event, shall be included in the calculation of the relevant Market Capitalisation Value. 

  

	3.4.6	In respect of clauses 3.4.4 (a) and (b) you must still be appointed as director and Chairman of the Company at the relevant Trigger Event. In respect of clause 3.4.4 (c) you must still be or have been
appointed as director and Chairman of the Company at the Relevant Date. 

  

	3.4.7	In the event that your appointment under this agreement is terminated by the Company in circumstances in which it is not entitled to do so, the restrictions applying to both the Tranche Two Restricted Shares and the
Tranche Three Restricted Shares will cease to apply and they will cease to be Restricted Shares on the termination date, subject to the Company having reached at any time on or before the termination date the relevant Market Capitalisation Value, as
defined above, of at least £155 m or £213 m, as appropriate. Any remaining Tranche Two and/or Tranche Three Restricted Shares will be repurchased on the termination date where the Company terminates your appointment in the circumstances
referred to in clause 14.1. 

  

	3.4.8	Trigger Event 

 Trigger Event as referred to above means the date on which: 

(a) an IPO; or 
 (b) a Trade
Sale, 
 occurs, or where: 

(c) an Independent Valuation is carried out as at the fourth anniversary of the date of this agreement (where no IPO or Trade Sale has
occurred); or 
 (d),an Independent Valuation is carried out as at a date before or after the fourth anniversary of the date of this
agreement; 
 the date as at which the Independent Valuation is carried out 

  
 5 

	3.4.9	Independent Valuation 

 Independent Valuation as referred to above means an independent
valuation of the Shares in the Company, carried out by an independent valuation expert (“the Expert”). The parties shall agree on the appointment of the Expert and shall agree with the Expert the terms of his appointment. If the parties
are unable to agree on the Expert or the terms of his appointment, the Expert shall be appointed by the President of the Institute of Chartered Accountants. The Company agrees to meet the costs of nominating the valuation expert and the costs of the
Expert’s appointment. The Company shall commission an Independent Valuation (at its expense) on the Relevant Date, meaning: 
 (a) on
the fourth anniversary of this agreement (if there has been no IPO or Trade Sale); and 
 (b) if earlier, on the date of termination of your
appointment under this agreement, 
 except the Company need not commission an Independent Valuation where the Company terminates your
appointment in the circumstances referred to in clause 14.1. 
  

	3.5	The following provisions apply if Restricted Shares are repurchased in accordance with clause 3.4: 

  

	 	3.5.1	The Company shall purchase (or procure a purchaser for) the Restricted Shares at a price of £0.15 per Restricted Share. 

  

	 	3.5.2	Completion of the repurchase shall take place on a date selected by the Company (and of which at least 7 days notice is given by the Company to you). That date must be no less than 7 and no more than 60 days following
the date on which the obligation to repurchase arises. On the date of Completion the Company shall pay (or procure payment) to you of the amount referred to in Clause 3.5.1 and you shall execute and deliver to the Company a stock transfer form,
transferring the relevant Restricted Shares to the Company (or to such person as the Company may nominate). 

  

	4.	FREEDOM TO TAKE UP DUTIES WITH THE COMPANY 

 You warrant that you will not, by entering into or
performing any of your duties for the Company, be in breach of any other agreement, contract or obligation binding on you. 

  
 6 

	5.	FACILITIES 

 The Company shall provide you with such secretarial and other facilities as shall be
reasonably necessary and agreed between you and the Company in connection with the performance of your duties under this agreement. 
  

	6.	DIRECTORS’ AND OFFICERS’ LIABILITY INSURANCE 

 The Company will take out reasonable
directors’ and officers’ liability insurance, which will apply to you for the duration of your appointment, subject to the terms, conditions and limitations of such insurance cover. A copy of the policy can be obtained from the Company
Secretary. 
  

	7.	EXPENSES 

 The Company will reimburse you for any reasonable travelling and other expenses you incur in
performing your duties for the Company, subject to you providing the Company with receipts, vouchers or other written evidence evidencing such expenditure (in particular, but without limitation, costs incurred on air travel, in accordance with the
company’s travel policy, will be fully reimbursed provided that the Company has pre-approved the flights. Costs incurred on Business Class air travel for flights longer than five (5) hours will be fully reimbursed provided that the CEO of
the Company (from time to time) has pre-approved the flights.) Any air miles or other loyalty points or benefits which you may obtain as a result of business travel shall be for your personal use. 

 

	8.	PROFESSIONAL ADVICE 

 Occasions may arise when you consider that you need professional advice in
connection with the performance of your duties as a non-executive director of the Company and you will be entitled to consult the Company’s professional advisers at the Company’s expense to the extent that is reasonably necessary in all
the circumstances and that the costs incurred are reasonable and not exceeding £ 7,500 plus VAT. For expenses exceeding £ 7,500 plus VAT the agreement from the other non-executive directors or other authorised individuals of the Company
is to be received prior to you committing the expenditure. 
  

	9.	OUTSIDE INTERESTS 

  

	9.1	The Company acknowledges that you are the Chairman of Connexios Life Sciences Pvt Ltd (currently involved in discovery research of new small molecules in Diabetes, NASH, and chronic liver diseases), the consultant of
Nadathur Fareast Pte Ltd (key shareholder in Connexios), and the Chairman and owner of Chesyl Pharma Ltd, that you may become the Chairman and Consultant of Ergomed Clinical Research Limited and agrees to you retaining (or in case of Ergomed
Clinical Research Limited acquiring and retaining) these offices. 

  
 7 

	9.2	You agree that you will notify the Board in writing of your intention to accept any other employment (not listed in 9.1. above), engagement, appointment, interest or involvement in any (as the context permits) person,
firm, company, corporation, business or organisation which competes or conflicts with your appointment (an “Other Interest”). In the event that: 

  

	 	9.2.1	the Board reasonably determines that your acceptance of any such Other Interest would result in a serious conflict of interests; the Board will notify you in writing of this determination within 28 calendar days of
receipt of your notification to the Board regarding the Other Interest. Within 7 calendar days of receipt by you of any such notice from the Company, you will confirm to the Board in writing whether you intend to accept the applicable Other
Interest. 

  

	 	9.2.2	you reasonably determine that your acceptance of any such Other Interest would result in a serious conflict of interests; you will notify the Board of your view at the same time as you notify the Board of your intention
to accept the Other Interest. 

 You agree that you will, if you decide to accept the applicable Other Interest, submit to the
Board (at the same time as you submit the written confirmation regarding your intentions) your written notice of resignation as the Chairman and as a director of the Company, such resignation to take effect after a period of 3 months. It is agreed
that neither the Company nor you shall not have any right to damages or compensation in relation to your resignation in these circumstances and that all unvested Options will not vest after the date you cease to be an officer of the Company, except
where an Independent Valuation is carried out after the date you cease to be an officer of the Company but in respect of a period during which you were appointed. You hereby irrevocably appoint any other director of the Company from time to time to
be your attorney to execute any documents and do anything in your name to effect your resignation as the Chairman and as a director of the Company should you fail to submit your resignation to the Company in accordance with the terms stated in this
clause. You agree that a written notification signed by a director of the Company that any instrument, document or act falls within the authority conferred by this clause will be conclusive evidence that it does so; or Notwithstanding any term of
this agreement, you may hold (directly or through nominees including your spouse, partner or minor children) by way of bona fide personal investment any units of any authorised unit trust and up to three (3%) percent of the issued shares,
debentures or other securities of any company whose shares are listed on a recognised investment exchange or on the alternative investment market. 
  

	9.3	During your appointment you shall and will procure that your spouse and minor children comply with: 

  

	 	(a)	all applicable rules of law; 

  

	 	(b)	any recognised investment exchange regulations (including the Model Code for Securities Transactions by Directors of Listed Companies issued by the London Stock Exchange plc and any revisions, or amendments of the same
or any equivalent regulations issued by any other applicable investment exchange) and 

  

	 	(c)	any policy, code or regulations of the Company or any Group Company notified to you, 

 relating
(in the case of (a) to (c) inclusive) to dealings in shares, debentures or other securities of the Company and any Group Company or relating to any unpublished price sensitive information affecting the securities of the Company, any Group
Company or any other company. 

  
 8 

	10.	CONFIDENTIAL INFORMATION 

  

	10.1	During the course of your appointment as a non-executive director of the Company you will have access to and become aware of information which is confidential to the Company and the Group Companies. You undertake that
you will not, save in the proper performance of your duties for the Company, use (whether for your own benefit or for the benefit of any other person, firm, company or organisation) or disclose to any person, firm, company or organisation (other
than your professional advisers) any of the trade secrets or other confidential information of or relating to: (a) the Company; (b) any Group Company; (c) any customer, client or Prospective Customer (as defined below) of the Company
or any Group Company; (d) any person, firm, company or organisation with whom or which the Company is involved in any kind of business venture or partnership; or (e) the business of the Company or any Group Company, which (in the case of
each of (a) to (e) inclusive) you received or obtained during your appointment as a non-executive director of the Company. You will likewise use your best endeavours to prevent the unauthorised publication or disclosure of any such trade
secrets or confidential information. 

  

	10.2	This restriction shall continue to apply after the termination of your appointment for a period of five years, but shall cease to apply to information ordered to be disclosed by a Court or Tribunal of competent
jurisdiction or to information which becomes available to the public generally (other than by reason of your breaching this clause). 

  

	10.3	For the purposes of this agreement confidential information shall include, but shall not be limited to: 

  

	 	(a)	corporate and marketing strategy and plans and business development plans; 

  

	 	(b)	budgets, management accounts, bank account details and other confidential financial data; 

  

	 	(c)	business, sales and marketing methods, confidential techniques, know how and processes used for the production or development of products and services; services; 

 

	 	(d)	details and specifications of products and services being sold, provided, distributed or developed, including: research and development reports, genetic data, databases, chemical formulae, information relating to
pre-clinical or clinical trials, medical records, proprietary vaccines, pharmaceutical compounds and nucleic acid constructs, proprietary bioinformatics, confidential methods and processes, inventions or creations, product specifications, and
details of intellectual property solutions or rights relating to products or services; 

  

	 	(e)	details of computer technology; computer programs; software applications and systems; information relating to proprietary hardware or software (including updates); source and object code to proprietary software;
confidential algorithms developed or used for such proprietary software; 

  
 9 

	 	(f)	details of the salaries, bonuses, commissions and other employment terms applicable to employees; 

  

	 	(g)	The names, addresses and contact details of any customers or Prospective Customers, customer lists in whatever medium this information is stored and the requirements of those customers or the potential requirements of
Prospective Customers for any products or services. Without prejudice to the foregoing, personal information provided by visitors to and users of any of its web sites; 

 

	 	(h)	the terms of business with advertisers, customers and suppliers, including any pricing policy adopted and the terms of any partnership, joint venture or other form of commercial co-operation or agreement with any third
party; 

  

	 	(i)	software and technical information necessary for the development, maintenance or operation of any websites and the source and object code of each website; 

 

	 	(j)	existing, pending or threatened litigation; and 

  

	 	(k)	Any other information which is the subject of an obligation of confidence owed to a third party, in particular the content of discussions or communications with any Prospective Customers or prospective business
partners. 

  

	11.	COPYRIGHT, DESIGN RIGHTS AND OTHER RIGHTS 

  

	11.1	You will promptly disclose to the Company all works in which copyrights, design rights or database rights (or similar forms of intellectual property protection) may exist which you make or originate either by yourself
or jointly with other people during your appointment as the non-executive Chairman of the Company. 

  

	11.2	Any copyright work, design or database created by you in the normal course of your appointment or in the course of carrying out duties specifically assigned to you by the Board shall be the property of the Company
whether or not the work was made at the direction of the Company or was intended for the Company and the copyright in it and the rights in any design or database shall belong absolutely to the Company throughout all jurisdictions and in all parts of
the world, together with all rights of registration, extensions and renewal (where relevant). direction of the Company or was intended for the Company and the copyright in it and the rights in any design or database shall belong absolutely to the
Company throughout all jurisdictions and in all parts of the world, together with all rights of registration, extensions and renewal (where relevant). 

  

	11.3	To the extent that such copyrights, design rights and database rights (and similar forms of intellectual property protection) are not otherwise vested in the Company, you hereby assign the same to the Company, together
with all past and future rights of action relating thereto. In relation to any copyright work, design or database that may be created by you in the future, whether in the normal course of your appointment or in the course of carrying out duties
specifically assigned to you by the Board, you hereby assign the copyright, design rights and database rights (and similar forms of intellectual property protection) in the same to the Company with the intention that such copyright, design rights
and database rights (and similar forms of intellectual property protection) should forthwith upon completion of the relevant works vest in the Company. 

  
 10 

	11.4	You recognise and accept that the Company may edit copy, add to, take from, adapt, alter and translate the product of your services in exercising the rights assigned under clause 11.3. 

 

	11.5	To the full extent permitted by law, you irrevocably and unconditionally waive any provision of law known as “moral rights” including any moral rights you may otherwise have under sections 77 to 85 inclusive
of the Copyright Designs and Patents Act 1988 in relation to the rights referred to at clause 11.2. You give this waiver in favour of the Company and each Group Company, and all successors in title to and licensees of the copyright design right and
database right in such works (whether existing or future). 

  

	11.6	You agree that you will at the Company’s request and expense while you remain a director of the Company and for a period of five (5) years after ceasing to be a director of the Company, execute such further
documents or deeds and do all things necessary or reasonably required to confirm and substantiate the rights of the Company under this clause 11. 

  

	11.7	You agree that you will not at any time make use of, disclose or exploit the Company’s property, trade marks, service marks, documents, materials or information in which the Company or any Group Company owns
(wholly or partially) the copyright, design right, database right or semi-conductor topography right (or similar forms of intellectual property protection) for any purpose which has not been authorised by the Company in advance. 

 

	11.8	Notwithstanding anything in clauses 10, 11, 12 or 13 of this agreement, you shall own and retain ownership of and may freely use, disclose and exploit any copyright relating to your written business presentations
provided that you have first deleted any confidential information relating to the Company or any Group Company from such presentations and that such use, disclosure or exploitation does not infringe or use any of the Company’s trade secrets,
trademarks, copyrights or other intellectual property rights. 

  

	12.	INVENTIONS 

  

	12.1	It shall be part of your normal duties at all times to consider at a strategic level in what manner and by what new methods or devices, products, services, processes, equipment or systems of the Company and each Group
Company might be improved and to further the intellectual property interests of the Company. You and the Company agree that, because of the nature of your duties and the particular responsibilities arising from your duties, you have a special
obligation to further the interests of the Company. 

  

	12.2	 You hereby acknowledge and agree that the sole ownership of any invention, discovery, design, improvement or other matter or work whatsoever made or
discovered by you from time to time in the course of your appointment and all proprietary rights therein discovered or made by you (whether alone or jointly with others) at any time during your appointment (the “Company Inventions”) shall
(subject to any contrary provisions of the 

  
 11 

	 	
Patents Act 1977 and the Copyright Designs and Patents Act 1988 and to any rights of a joint inventor thereof) belong free of charge and exclusively to the Company or as it may direct.

  

	12.3	You shall promptly give to the Board full details of all inventions, discoveries, designs, improvements or other matter or works whatsoever made or discovered by you from time to time during the continuance of your
appointment with the Company. 

  

	12.4	All worldwide copyright, design rights and database rights in all Company Inventions shall be and remain the property of the Company and the provisions of clause 11 above shall apply in relation to the same.

  

	12.5	You agree that you shall, while you remain a director of the Company and for a period of five (5) years after ceasing to be a director of the Company, at the Company’s expense, do all such acts and things and
execute such documents (including without limitation making application for letters patent) as the Board may reasonably request in order to vest effectually all Company Inventions, to the extent that the same is the property of the Company or any
other Group Company, and any protection as to ownership or use (in any part of the world) of the same, in the Company or any Group Company, or as the Company may direct, and you hereby irrevocably appoint the Company for these purposes to be your
attorney in your name and on your behalf to execute and do such acts and things and execute any such documents as set out above. 

  

	12.6	You agree that you will not knowingly do or omit to do anything which will or may have the result of imperilling any such protection aforesaid or any application for such protection. 

 

	12.7	You agree that you will not at any time make use of, disclose or exploit any Company Invention belonging wholly or partially to the Company or any Group Company for any purpose which has not been authorised by the
Company. 

  

	12.8	Each of the provisions in this clause 12 is distinct and severable from the others and if at any time one or more of such provisions is or becomes invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions of the clause will not in any way be affected or impaired. 

  

	13.	COMPANY PROPERTY 

  

	13.1	You may not, save in the proper performance of your duties as a director or with the Company’s prior written permission, remove any property belonging to the Company or any Group Company or relating to the affairs
of the Company or any Group Company from the Company’s or any Group Company’s premises, or make any copies of documents or records relating to the Company’s or any Group Company’s affairs. 

 

	13.2	 Upon the Company’s request at any time and in any event on the termination of your appointment as a non-executive director of the Company, you
agree to deliver up to the Company or its authorised representative within two working days or such request from the Company or the termination of your appointment, any and all plans, keys, mobile telephone, security passes, credit cards, customer
lists, price lists, equipment, documents, records, papers, computer disks tapes or other computer hardware or 

  
 12 

	 	
software or memory medium or devices (together with all copies of the same), and all property of whatever nature in your possession or under your control which belongs to the Company or any Group
Company or relates to its or their business affairs. You will, at the Company’s request and without delay, furnish the Company with a written statement confirming that you have complied with this obligation. 

 

	14.	TERMINATION 

  

	14.1	In the event that the Company terminates your office of directorship at any time in accordance with the provisions of the Articles (as amended by the Company from time to time) and/or any applicable laws (including
where applicable the Laws of the UK and the Companies Act), you agree that you shall have no right to any damages or compensation on or after the date you cease to be an officer of the Company if you: 

 

	 	(a)	are guilty of any gross misconduct, gross negligence or dishonesty or act in a manner which is materially adverse to the interests of the Company; 

 

	 	(b)	commit any serious or repeated breach or non-observance of your obligations to the Company (which include an obligation not to breach your statutory, fiduciary or common-law duties); 

 

	 	(c)	become bankrupt, have an interim order made against you under the Insolvency Act 1986 or make any composition or enter into any deed of arrangement with your creditors or the equivalent of any of these under any other
jurisdiction; 

  

	 	(d)	become of unsound mind, become a patient under any mental health legislation or be unable due to any accident, illness or injury to undertake your duties for the Company in accordance with the terms of this agreement
for a period of more than 6 consecutive months; 

  

	 	(e)	are convicted of a criminal offence (other than a motoring offence for which a non-custodial sentence is imposed on you); 

  

	 	(f)	become disqualified by law or any court of competent jurisdiction from acting as a director of a company; or 

  

	 	(g)	have failed to submit your resignation as the chairman and as a director of the Company when required to do so under the terms agreed in clause 9.2 of this agreement. 

 

	14.2	In the event that the Company terminates your office as a director of the Company at any time with immediate effect (other than in accordance with clause 14.1 of this Agreement), the Company shall pay you all
director’s fees which would have been due to you for the following twelve (12) months within 14 days of the date of such termination. The parties to this agreement agree that this is a reasonable pre-estimate of your loss.

  
 13 

	14.3	You may resign from your office as a director and as Chairman of the Company with immediate effect if the Company: 

  

	 	(a)	is guilty of any gross negligence which affects you or any dishonesty towards or concerning you; or 

  

	 	(b)	Becomes insolvent, makes any composition or enters into any deed of arrangement with its creditors or the equivalent of any of these under any other jurisdiction. 

 

	14.4	In the event that you resign from your appointment at any time for any reason which is stated in clauses 14.3(a)–(b) inclusive, the Company shall pay you all director’s fees which would have been due to you
for the following twelve (12) months within 14 days of the date of such termination. The parties to this agreement agree that this is a reasonable pre-estimate of your loss. 

 

	14.5	In the event that you are unable due to any accident, illness or injury to undertake your duties for the Company in accordance with the terms of this agreement for a period of more than 6 consecutive months you may
thereafter resign from your office as a director of the Company at any time and without the Company having any right to damages or compensation. 

  

	14.6	In the event that you wish to resign your office as a director of the Company for a reason other than those stated in clause 9.2, clause 14.3(a)-(b) inclusive or clause 14.5 you agree to give the Company not
less than twelve (12) months’ written notice of resignation. 

  

	14.7	Notwithstanding any other term of this agreement, you agree that the Company may terminate your appointment under this agreement at any time after the Initial Fixed Term by giving to you not less than three
(3) months’ written notice of termination expiring on or after the end of the Initial Fixed Term. In the event that notice is given to you by the Company, you agree that, prior to the expiry of the notice period, you will submit to the
Board your written resignation as the Chairman and as a director of the Company, such resignation to take effect on the expiry of the said notice period. You hereby irrevocably appoint any other director of the Company from time to time to be your
attorney to execute any documents and do anything in your name to effect your resignation as the Chairman and as a director of the Company should you fail to resign on or before the date of expiry of such period of notice of termination given to you
by the Company. You agree that a written notification signed by a director of the Company that any instrument, document or act falls within the authority conferred by this clause will be conclusive evidence that it does so. 

 

	14.8	Upon the termination of your appointment as a non-executive director of the Company for whatever reason or at the request of the Board, you shall resign promptly (with such resignation taking immediate effect) from all
other directorships held by you in any Group Company. You hereby irrevocably appoint the Company to be your attorney to execute any documents and does anything in your name to effect your resignation as a director of any Group Company should you
fail to resign promptly following a request from the Company to do so in accordance with this clause. A written notification signed by a director of the Company that any instrument, document or act falls within the authority conferred by this clause
will be conclusive evidence that it does so. 

  
 14 

	15.	DEFINITIONS 

  

	15.1	Any reference in this agreement to: 

  

	15.2	any Act or delegated legislation includes any statutory modification or re-enactment of it or the provision referred to; 

  

	15.3	“the Articles” means the Articles of Association of the Company as amended from time to time; 

  

	15.4	“the Board” shall mean the Board of Directors of the Company from time to time or any person or any committee of the Board duly appointed by it; 

 

	15.5	“The Companies Act” means the Companies Act 2006; 

  

	15.6	“Group Company” means a company which from time to time is a subsidiary or a holding company of the Company or a subsidiary of such holding company (where the terms “subsidiary” and “holding
company” have the meanings attributed to them in section 1159 of the Companies Act); 

  

	15.7	“IPO” means the admission for listing or quotation of the Company’s shares on a recognised investment exchange (as that term is used in section 285 of the Financial Services and Markets Act 2000) or the
UK Alternative Investment Market. 

  

	15.8	“Prospective Customer” means any person with whom the Company or any Group Company is in negotiations in relation to the sale or supply of goods and/or services by the Company or any Group Company to such
person or to whom the Company or any Group Company has submitted a tender relating to such sale or supply arrangement; and 

  

	15.9	“Trade Sale” means entering into a legally binding agreement for the transfer (whether through a single transaction or a series of transactions) of Shares in the Company as a result of which any person (or
persons connected with each other, or persons acting in concert with each other) would have the legal or beneficial ownership of 50% or more of the share capital of the Company or disposal by the Company of the whole or substantially the whole of
its assets. 

  

	15.10	“Effective Date” means the date on which the appointment as non executive director and Chairman becomes effective. 

  

	16.	JURISDICTION/LANGUAGE OF THE CONTRACT 

  

	16.1	This agreement is governed by and construed in accordance with the laws of England and the parties submit to the non exclusive jurisdiction of the English courts. 

  
 15 

 IN WITNESS WHEREOF this agreement has been executed and delivered as a deed on the date set out above.

  

			
	 EXECUTED and DELIVERED as a DEED

by MIDATECH LTD

		
	Acting by:	 	 /s/ Dr. James Phillips

		 	Director
	
	EXECUTED and DELIVERED as a DEED
		
	by ROLF STAHEL:	 	 /s/ Rolf Stahel

  
 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00248-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00248-of-00352.parquet"}]]