Document:

FORM OF

 

ADMINISTRATION
AGREEMENT

 

This
Administration Agreement (this “Agreement”) is made as of February 24, 2014, by and
between VII PEAKS CO-OPTIVIST INCOME BDC II, INC., a Maryland corporation (hereinafter referred to as
the “Company”), and VII PEAKS Capital, LLC, a Delaware limited liability company, (hereinafter referred to
as the “Administrator”).

 

WITNESSETH:

 

WHEREAS, the Company
is a non-diversified closed-end management investment company that has elected to be treated as a business development company
under the Investment Company Act of 1940 (together with the rules promulgated thereunder, the “1940 Act”);

 

WHEREAS, the Company
desires to retain the Administrator to provide administrative services to the Company in the manner and on the terms and conditions
hereinafter set forth; and

 

WHEREAS, the Administrator
is willing to provide administrative services to the Company in the manner and on the terms and conditions hereinafter set forth.

 

NOW, THEREFORE,
in consideration of the premises and the covenants hereinafter contained and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company and the Administrator hereby agree as follows:

 

	1.	Duties of the Administrator

 

(a)        Engagement
of Administrator. The Company hereby engages and retains the Administrator to furnish, or arrange for others to furnish, the
administrative services, personnel and facilities described below for the period and on the terms and conditions set forth in this
Agreement. The Administrator hereby accepts such engagement and retention and agrees during such period to render, or arrange for
the rendering of, such services and to assume the obligations herein set forth, subject to the reimbursement of costs and expenses
provided for below. The Administrator, and any others with whom the Administrator subcontracts to provide the services set forth
herein, shall for all purposes herein be deemed to be independent contractors of the Company and shall, unless otherwise expressly
provided or authorized herein, have no authority to act for or represent the Company in any way or otherwise be deemed agents of
the Company.

 

The Administrator
shall be subject to review and oversight by the Board of Directors of the Company (the “Board”) to assure that
the administrative procedures, operations and programs of the Company are in the best interests of the Company’s stockholders
and that the expenses incurred are reasonable in light of the investment performance of the Company, its net assets and its net
income.

 

(b)        Services.
The Administrator shall perform (or oversee, or arrange for, the performance of) the administrative services necessary for the
operation of the Company. Without limiting the generality of the foregoing, the Administrator shall:

 

	 	(i)	provide the Company with office facilities and equipment, and provide clerical, bookkeeping, accounting and recordkeeping services, legal services, and shall provide all such other services, except investment advisory services, as the Administrator and the Company shall from time to time determine to be necessary or useful to perform its obligations under this Agreement;

 

	 	(ii)	on behalf of the Company, enter into agreements and/or conduct relations with custodians, depositories, transfer agents, distribution disbursing agents, the dividend reinvestment plan administrator, stockholder servicing agents, accountants, auditors, tax consultants, advisers and experts, investment advisers, compliance officers, escrow agents, attorneys, underwriters, managing dealer, brokers and dealers, investor custody and share transaction clearing platforms, marketing, sales and advertising materials contractors, public relations firms, investor communication agents, printers, insurers, banks, independent valuation firms, and such other persons in any such other capacity deemed to be necessary or desirable by the Administrator and the Company;

 

    	 

    	 

    

 

	 	(iii)	The Administrator is hereby authorized to enter into one or more sub-administration agreements with other service providers (each a “Sub-Administrator”) pursuant to which the Administrator may obtain the services of the service providers in fulfilling its responsibilities hereunder. Any such sub-administration agreements shall contain a provision requiring the Sub-Administrator to comply with Sections 2 and 3 below as if it were the Administrator.

 

	 	(iv)	make reports to the Board of its performance of obligations hereunder;

 

	 	(v)	furnish advice and recommendations with respect to such other aspects of the business and affairs of the Company as the Administrator reasonably shall determine to be desirable; provided that nothing herein shall be construed to require the Administrator to, and the Administrator shall not pursuant to this Agreement, provide any advice or recommendation relating to the securities or other assets that the Company should purchase, retain or sell or any other investment advisory services to the Company;

 

	 	(vi)	assist the Company in the preparation of the financial and other records that the Company is required to maintain and the preparation, printing and dissemination of reports that the Company is required to furnish to stockholders, and reports and other materials filed with the Securities and Exchange Commission (the “SEC”), and states and jurisdictions where any offering of the Company’s shares is registered and there is a duty to file information with one or more states on an ongoing basis;

 

	 	(vii)	assist the Company in determining and publishing the Company’s net asset value, oversee the preparation and filing of the Company’s tax returns, and generally oversee and monitor the payment of the Company’s expenses and ensure that fees and expenses are within any applicable limitations set forth in the Company’s articles of incorporation, as amended from time to time (the “Articles of Incorporation”); and

 

	 	(viii)	oversee the performance of sub-administrative and other professional services rendered to the Company by others.

 

	2.	Records.

 

The Administrator
shall maintain and keep all books, accounts and other records of the Company that relate to activities performed by the Administrator
hereunder as required under the 1940 Act. The Administrator agrees that all records which it maintains and preserves for the Company
shall at all times remain the property of the Company, shall be readily accessible during normal business hours, and shall be promptly
surrendered to the Company upon the termination of the Agreement or otherwise on written request by the Company. The Administrator
further agrees that the records which it maintains for the Company will be preserved in the manner and for the periods prescribed
by the 1940 Act, unless any such records are earlier surrendered as provided above. The Administrator shall have the right to retain
copies of such records for an indefinite period, subject to observance of its confidentiality obligations under this Agreement.
The Administrator shall maintain records of the locations where any books, accounts and records of the Company are maintained by
third parties providing services directly or indirectly to the Company.

 

	 3.	Confidentiality.

 

The parties hereto
agree that each shall treat confidentially all information provided by each party to the other regarding its business and operations.
All confidential information provided by a party hereto, including all “nonpublic personal information,” as defined
under the Gramm-Leach-Bliley Act of 1999 (Public law 106-102, 113 Stat. 1138), shall be used by the other party hereto solely for
the purpose of rendering services pursuant to this Agreement and, except as may be required in carrying out this Agreement, shall
not be disclosed to any third party, without the prior consent of such providing party, except that such confidential information
may be disclosed to an affiliate or agent of the disclosing party to be used for the sole purpose of providing the services set
forth herein. The foregoing shall not be applicable to any information that is publicly available when provided or thereafter becomes
publicly available other than through a breach of this Agreement, or that is required to be disclosed to any regulatory authority,
by judicial or administrative process or otherwise by applicable law or regulation.

 

    	 

    	 

    

 

	4.	Allocation of Costs and Expenses.

 

The Company shall
bear all costs and expenses for the administration of its business and shall reimburse the Administrator for any such costs and
expenses which have been paid by the Administrator on behalf of the Company on the terms and conditions set forth in Section 5. These
costs and expenses shall include, but not be limited to:

 

	 	(a)	corporate, organizational and offering expenses relating to offerings of the Company’s common stock, subject to limitations included in the investment advisory agreement between the Company and VII Peaks Capital, LLC;

 

	 	(b)	the cost of calculating the Company’s net asset value, including the related fees and cost of any third-party valuation services;

 

	 	(c)	the cost of effecting sales and repurchases of shares of the Company’s common stock and other securities;

 

	 	(d)	fees payable to third parties relating to, or associated with, monitoring the Company’s financial and legal affairs, making investments, and valuing investments, including fees and expenses associated with performing due diligence reviews of prospective investments;

 

	 	(e)	federal and state registration fees and any stock exchange listing fees;

 

	 	(f)	transfer agent and custodial fees;

 

	 	(g)	fees and expenses associated with marketing efforts;

 

	 	(h)	federal, state and local taxes;

 

	 	(i)	independent directors’ fees and expenses, including travel expenses;

 

	 	(j)	costs of director and stockholder meetings, proxy statements, stockholders’ reports and notices;

 

	 	(k)	costs of fidelity bond, directors and officers/errors and omissions liability insurance and other types of insurance;

 

	 	(l)	direct costs, including those relating to printing of stockholder reports and advertising or sales materials, mailing, long distance telephone and staff;

 

	 	(m)	fees and expenses associated with independent audits and outside legal costs, including compliance with the Sarbanes-Oxley Act of 2002, the 1940 Act and applicable federal and state securities laws;

 

	 	(n)	brokerage commissions for the Company’s investments;

 

	 	(o)	all other expenses incurred by the Company or the Administrator in connection with administering our business, including expenses incurred by the Administrator in performing its obligations; and

 

	 	(p)	the reimbursement of the compensation of the Company’s chief financial officer and chief compliance officer, whose salaries are paid by the Administrator, to the extent that each such reimbursement amount is annually approved by the Company’s independent directors and subject to the limitations included in this Agreement.

 

 

    	 

    	 

    

 

The Administrator
acknowledges that it shall be responsible to ensure that (i) any reimbursement to the Company’s investment advisers
and/or sub-advisers, or any other person for deferred Organization and Offering Expenses (as defined in the Articles of Incorporation),
including any interest thereon, if any, shall not exceed the 18% limitation on Front End Fees (as defined in the Articles of Incorporation),
regardless of the source of payment, and (ii) the percentage of gross proceeds of any offering committed to investment shall
be at least eighty-two percent (82%). All items of compensation to underwriters or dealers, including, but not limited to, selling
commissions, expenses, rights of first refusal, consulting fees, finders’ fees and all other items of compensation of any
kind or description paid by the Company, directly or indirectly, shall be taken into consideration in computing the amount of allowable
Front End Fees.

 

	5.	No Fee; Reimbursement of Expenses; Limitations on Reimbursement of Expenses.

 

(a)               In
full consideration for the provisions of the services provided by the Administrator under this Agreement, the parties acknowledge
that there shall be no separate fee paid in connection with the services provided, notwithstanding that the Company shall reimburse
the Administrator, at the end of each fiscal quarter, for all expenses of the Company incurred by the Administrator as well as
the actual cost of goods and services used for the Company and obtained by the Administrator from entities not Affiliated with
the Company. The Administrator may be reimbursed for the administrative services necessary for the prudent operation of the Company
performed by it on behalf of the Company; provided, however, the reimbursement shall be an amount equal to the lower of the Administrator’s
actual cost or the amount the Company would be required to pay third parties for the provision of comparable administrative services
in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of
assets, revenues, time records or other method conforming with generally accepted accounting principles. The Company may also agree
to reimburse the Administrator, under this Agreement whereby the Administrator shall provide certain administrative services for
the Company, for the salaries, rent and travel expenses of executive officers of the Administrator also serving in the capacity
of chief financial officer or chief compliance officer of the Company provided such reimbursement is approved annually by the Independent
Directors. The Administrator shall prepare a statement documenting the expenses of the Company and the calculation of the reimbursement
and shall deliver such statement to the Company prior to full reimbursement

 

(b)               Previous
Reimbursement Reports. The Administrator shall prepare or shall cause to be prepared a report, prepared in accordance with
the American Institute of Certified Public Accountants United States Auditing Standards relating to special reports, and distributed
to stockholders not less than annually, containing an itemized list of the costs reimbursed to the Administrator pursuant to Section
5(a) for the previous fiscal year. The special report shall at a minimum provide:

 

(i) a review of
the time records of individual employees, the costs of whose services were reimbursed; and

 

(ii) a review of
the specific nature of the work performed by each such employee.

 

(c)               Proposed
Reimbursement Reports. The Administrator shall prepare or shall cause to be prepared a report containing an itemized estimate
of all proposed expenses for which it shall receive reimbursements pursuant to Section 5(a) of this Agreement for the next fiscal
year, together with a breakdown by year of such expenses reimbursed in each of the last five public programs formed by the Administrator.

 

	6.	Affiliate Defined.

 

For purposes of
this Agreement, “Affiliate” or “Affiliated” or any derivation thereof means with respect
to any individual, corporation, partnership, trust, joint venture, limited liability company or other entity or association (“Person”):
(a) any Person directly or indirectly owning, controlling, or holding, with the power to vote, 10% or more of the outstanding
voting securities of such other Person; (b) any Person 10% or more of whose outstanding voting securities are directly or
indirectly owned, controlled or held, with the power to vote, by such other Person; (c) any Person directly or indirectly
controlling, controlled by or under common control with such other Person; (d) any executive officer, director, trustee or
general partner of such other Person; or (e) any legal entity for which such Person acts as an executive officer, director,
trustee or general partner.

 

    	 

    	 

    

 

  

	7.	Limitation of Liability of the Administrator; Indemnification.

 

(a)        Indemnification.
Subject to Section 8, the Administrator and its officers, directors, stockholders or members (and their stockholders or members,
including the owners of their stockholders or members), agents, employees, controlling persons (as determined under the 1940 Act
(“Controlling Persons”)) and any other person or entity Affiliated with, or acting on behalf of, the Administrator
(each an “Indemnified Party” and, collectively, the “Indemnified Parties”) shall not be liable
to the Company for any action taken or omitted to be taken by the Administrator in connection with the performance of any of its
duties or obligations under this Agreement or otherwise as an administrator of the Company, and the Company shall indemnify, defend
and protect the Indemnified Parties (each of whom shall be deemed a third party beneficiary hereof) and hold them harmless from
and against all losses, damages, liabilities, costs and expenses (including reasonable attorneys’ fees and amounts reasonably
paid in settlement) (“Losses”) incurred by the Indemnified Parties in or by reason of any pending, threatened
or completed action, suit, investigation or other proceeding (including an action or suit by or in the right of the Company or
its security holders) arising out of or otherwise based upon the performance of any of the Indemnified Parties’ duties or
obligations as administrator for the Company to the extent such Losses are not fully reimbursed by insurance and otherwise to the
fullest extent such indemnification would not be inconsistent with the Articles of Incorporation, the 1940 Act, the laws of the
State of Maryland law or the provisions of Section II.G of the Omnibus Guidelines published by the North American Securities Administrators
Association on March 29, 1992, as it may be amended from time to time.

 

(b)        Advancement
of Funds. The Company shall be permitted to advance funds to the Indemnified Parties for legal expenses and other costs incurred
as a result of any legal action for which indemnification is being sought only if all of the following conditions are met:

 

	 	(i)	the legal action relates to acts or omissions with respect to the performance of duties or services on behalf of the Company;

 

	 	(ii)	the Indemnified Party provides the Company with written affirmation of the Indemnified Party’s good faith belief that the Indemnified Party has met the standard of conduct necessary for indemnification by the Company;

 

	 	(iii)	the legal action is initiated by a third party who is not a Company stockholder, or the legal action is initiated by a Company stockholder and a court of competent jurisdiction specifically approves such advancement; and

 

	 	(iv)	the Indemnified Party provides the Company with a written agreement to repay the advanced funds to the Company, allocated as advanced, together with the applicable legal rate of interest thereon, in cases in which the Indemnified Party is not found to be entitled to indemnification pursuant to a final, non-appealable decision of a court of competent jurisdiction.

 

(c)        The
Administrator shall indemnify the Company, and its Affiliates and Controlling Persons, for any Losses that the Company or its Affiliates
and Controlling Persons may sustain as a result of the Administrator’s willful misfeasance, bad faith, gross negligence,
reckless disregard of its duties hereunder or violation of applicable law, including, without limitation, the federal and state
securities laws.

 

	8.	Limitation on Indemnification.

 

Notwithstanding
Section 7(a) to the contrary, the Company shall not provide for indemnification of the Indemnified Parties for any liability
or loss suffered by the Indemnified Parties, nor shall the Company provide that any of the Indemnified Parties be held harmless
for any loss or liability suffered by the Company, unless all of the following conditions are met:

 

(i)     the
Indemnified Party has determined, in good faith, that the course of conduct which caused the loss or liability was in the best
interests of the Company;

 

    	 

    	 

    

 

(ii)    the
Indemnified Party was acting on behalf of or performing services for the Company;

 

(iii)   such
liability or loss was not the result of willful misfeasance, bad faith or gross negligence by the Indemnified Party; and

 

(iv)   such
indemnification or agreement to hold harmless is recoverable only out of the Company’s net assets and not from stockholders.

 

Furthermore, the
Indemnified Party shall not be indemnified for any losses, liabilities or expenses arising from or out of an alleged violation
of federal or state securities laws unless one or more of the following conditions are met:

 

(i)    there
has been a successful adjudication on the merits of each count involving alleged material securities law violations;

 

(ii)   such
claims have been dismissed with prejudice on the merits by a court of competent jurisdiction; or

 

(iii)  a
court of competent jurisdiction approves a settlement of the claims against a particular indemnitee and finds that indemnification
of the settlement and related costs should be made, and the court of law considering the request for indemnification has been advised
of the position of the SEC and the published position of any state securities regulatory authority in which securities of the Company
were offered or sold as to indemnification for violations of securities laws.

  

	9.	Activities of the Administrator.

 

The services provided
by the Administrator to the Company are not exclusive, and the Administrator may engage in any other business or render similar
or different services to others, including, without limitation, the director or indirect sponsorship or management of other investment
based accounts or commingled pools of capital, however structured, whether having investment objectives similar to or different
from those of the Company, so long as its services to the Company hereunder are not impaired thereby and nothing in this Agreement
shall limit or restrict the right of any officer, director, stockholder (and their stockholders or members, including the owners
of their stockholders or members), officer or employee of the Administrator to engage in any other business or to devote his or
her time and attention in part to any other business, whether of a similar or dissimilar nature, or to receive any fees or compensation
in connection therewith (including fees for serving as a director of, or providing consulting services to, one or more of the Company’s
portfolio companies, subject to applicable law). The Administrator assumes no responsibility under this Agreement other than to
render the services set forth herein.

 

	10. 	Duration and Termination of this Agreement

 

(a)        Term
and Effectiveness. This Agreement shall become effective as of the date hereof. This Agreement shall remain in effect for two
years, and thereafter shall continue automatically for successive one-year periods, provided that such continuance is specifically
approved at least annually by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities
of the Company. and (ii) the vote of a majority of the Company’s directors who are not parties to this Agreement or
“interested persons” (as such term is defined in Section 2(a)(19) of the 1940 Act, or any successor provision
thereto) (the “Independent Directors”) of any such party, in accordance with the requirements of the 1940 Act.

 

(b)        Termination.
This Agreement may be terminated at any time, without the payment of any penalty: (i) by the Company upon 60 days’ written
notice to the Administrator: (A) upon the vote of a majority of the outstanding voting securities of the Company (as “majority”
is defined in Section 2(42) of the 1940 Act) or (B) by the vote of the Independent Directors; or (ii) by the Administrator
upon not less than 120 days’ written notice to the Company. This Agreement and the rights and duties of a party hereunder
may not be assigned, including by operation of law, by a party without the prior consent of the other party and this Agreement
automatically shall terminate in such event. The provisions of Section 7 of this Agreement shall remain in full force and
effect, and the Administrator shall remain entitled to the benefits thereof, notwithstanding any termination of this Agreement.

 

    	 

    	 

    

 

 After
the termination of this Agreement, the Administrator shall not be entitled to compensation for further services provided hereunder
except that it shall be entitled to receive from the Company within 30 days after the effective date of such termination all unpaid
reimbursements due and payable to the Administrator prior to termination of this Agreement.

 

	11.	Notices.

 

Any notice under
this Agreement shall be given in writing, addressed and delivered or mailed, postage prepaid, to the other party at the address
listed below or at such other address for a party as shall be specified in a notice given in accordance with this Section 11.

 

	12.	Amendments of this Agreement.

 

This Agreement may
be amended by mutual written consent of the parties, subject to the provisions of the 1940 Act. This Agreement automatically shall
terminate upon the dissolution of the Company or a Liquidity Event (as defined in the Articles of Incorporation).

 

	13.	Counterparts.

 

This Agreement may
be executed in counterparts, each of which shall be deemed to be an original copy and all of which together shall constitute one
and the same instrument binding on all parties hereto, notwithstanding that all parties shall not have signed the same counterpart.’

 

	14.	Governing Law.

 

This Agreement shall
be construed in accordance with laws of the State of Maryland and the applicable provisions of the 1940 Act, if any. To the extent
that the applicable laws of the State of Maryland or any of the provisions herein conflict with the applicable provisions of the
1940 Act, if any, the latter shall control.

 

	15.	Entire Agreement.

 

This Agreement contains
the entire agreement of the parties and supersedes all prior agreements, understandings and arrangements with respect to the subject
matter hereof.

 

 IN WITNESS
WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first above written.

 

	 	 	VII PEAKS CO-OPTIVIST INCOME BDC II, INC.
	 	 	 	 
	 	 	By: 	/s/
	 	 	Name:	 
	 	 	 
	 	 	VII PEAKS Capital, LLC
	 	 	 	 
	 	 	By: 	/s/
	 	 	Name:Exhibit 10.55

 

Coronado Biosciences Inc.

 

RESTRICTED STOCK ISSUANCE AGREEMENT

  

This RESTRICTED STOCK ISSUANCE AGREEMENT
(the “Agreement”) is made and entered into as of February 20, 2014, by and between Coronado Biosciences Inc., a Delaware
corporation (the “Company”), and Michael S. Weiss (the “Grantee”).

 

WHEREAS, in connection with Grantee’s
employment with the Company, the Company has agreed to issue Three Million Nine Hundred Fifty Eight Thousand Six Hundred Ninety
Two (3,958,692) shares of Common Stock (the “Shares”).

 

NOW, THEREFORE, the parties agree as follows.

 

1.Issuance of Stock. The Company hereby agrees
to issue to the Grantee the Shares, which for purposes of this Agreement are valued at the closing price of $2.76 per share on
February 19, 2014. All of the Shares received by the Grantee from the Company pursuant to this Agreement are subject to an option
by the Company to repurchase such Shares.

 

2.Repurchase Option.

 

(a)The termination of the Grantee’s employment
by Grantee without Good Reason or by the Company with Cause shall be a “Triggering Event”. As used herein, “Cause”
means: (i) Grantee’s conviction of fraud, embezzlement or misappropriation with respect to the Company, (ii) Grantee’s
material breach of the Proprietary Information and Inventions Agreement between Executive and the Company, (iii) Grantee’s
breach of fiduciary duties to the Company, (iv) Grantee’s willful failure or refusal to follow any specific lawful instructions
of the Company’s Chief Executive Officer, or (v) Grantee’s conviction or plea of nolo contendere in respect of any
felony or a misdemeanor involving moral turpitude. The determination that the Grantee has engaged in acts constituting Cause as
defined in clauses (ii), (iii), (iv), or (v) above requires the affirmative vote of a majority of the Board of Directors. As used
herein, “Good Reason” means the occurrence of any of the following events without Grantee’s consent: (i) a material
reduction of Grantee’s base salary, (ii) a material diminution of Grantee’s authority, duties, or responsibilities,
(iii) the relocation of Grantee’s office from the New York, New York metro area, (iv) the Company’s involuntary termination
of Lindsay A. Rosenwald, MD, as Chief Executive Officer for any reason other than Cause, (v) the failure of the Board of Directors
to appoint Grantee as Chief Executive Officer in the event the employment of Lindsay A. Rosenwald, MD, is terminated by Cause,
death, illness or disability, (vi) the Company’s material breach of this Agreement, or (vii) failure to re-elect Grantee
to the board of directors other than due to Grantee’s failure to stand for reelection or refusal to serve.

 

(b)In the event that a Triggering Event occurs, the
Company shall, from the date of termination (as reasonably fixed and determined by the Company), have an option (the “Repurchase
Option”) for a period of 90 days to repurchase any of the Shares that are not vested under the vesting schedule set forth
on Exhibit A hereto (“Unvested Shares”) at the price per share designated pursuant to paragraph (c) hereof.
In the event the Company elects to exercise the Repurchase Option, it shall be exercised by the Company by written notice to the
Grantee, which notice shall specify the number of Shares and the time (not later than 30 days from the date of the Company’s
notice) and place for the closing of the repurchase of the Shares. Upon delivery of such notice and payment of the purchase price
in accordance with the terms herewith, the Company shall become the legal and beneficial owner of the Shares being repurchased
and all rights and interests therein or relating thereto, and the Company shall have the right to retain and transfer to its own
name the number of Shares being repurchased by the Company.

 

    	 

    	 

    

 

(c)The purchase price for each Unvested Share shall
be $0.001 per share.

 

(d)Said purchase price shall be paid, at the Company’s
option, (i) by delivery of a check in the amount of the purchase price, (ii) by cancellation of any amount of the Grantee’s
indebtedness to the Company equal to the purchase price for the shares being repurchased, or (iii) by a combination of (i)
and (ii) so that the combined payment and cancellation of indebtedness equals such purchase price.

 

(e)Whenever the Company shall have the right to repurchase
Shares hereunder, the Board of Directors may designate and assign to one or more assignees the right to exercise all or part of
the Company’s repurchase rights under this Agreement to purchase all or a part of such Shares.

 

3.Release of Shares From Repurchase Option/Accelerated
Vesting. In the event the Repurchase Option is triggered pursuant to a Triggering Event and the Company (or its assigns) fails
to exercise the Company’s option for the repurchase of any or all of the Unvested Shares then, upon the expiration of the
90-day option period, any and all such Shares not repurchased by the Company shall be released from the Repurchase Option. In the
event of any termination of Grantee’s employment with the Company that does not constitute a Triggering Event, then all Shares
shall be immediately released from the Repurchase Option. Upon the expiration or release of the Repurchase Option any unvested
Shares shall immediately vest.

 

4.Restriction on Transfer; Ownership. Except
for a transfer to a “Related Party” (as defined below), none of the Unvested Shares or any beneficial interest therein
shall be transferred, pledged, hypothecated, encumbered or otherwise disposed of in any way. For purposes of this Agreement, “Related
Party” shall mean a spouse, lineal ancestor or descendant, natural or adopted, and a spouse of a lineal ancestor or descendant,
or a trust for the sole benefit of such persons or any of them.

 

All transferees of Shares or any interest
therein (including Related Parties) will receive and hold such Shares or interest subject to the provisions of this Agreement,
and shall agree in writing to take such Shares or interest therein subject to all the terms of this Agreement, including restrictions
on further transfer. Any sale or transfer of the Company’s Shares shall be void unless the provisions of this Agreement are
met.

 

    	 

    	 

    

 

Grantee, as beneficial owner of the Shares,
shall have full voting and dividend rights with respect to the Shares during and after the vesting period. Dividends, if any, declared
and paid on the Shares during the vesting period shall be accrued by the Company during the vesting period and paid to Grantee
only if and when the related Shares vest and become non-forfeitable as provided in Sections 2 and 3 hereof. Any such accrued dividends
shall be paid to Grantee no later than 30 days after the applicable vesting date. If any Unvested Shares are repurchased pursuant
to the Repurchase Option, then, on the date of such repurchase, Grantee shall no longer have any rights as a stockholder with respect
to such repurchased Shares or any interest therein, and Grantee shall not be entitled to receive any accrued dividends previously
declared on such repurchased Shares

 

5.Omitted.

 

6.Investment Intent; Legends on Certificates.

 

(a)Simultaneously with the execution hereof, the Grantee
has executed and delivered to the Company a copy of the Investment Representation Statement in the form of Exhibit B hereto
concerning the Grantee’s investment intent with respect to the Shares.

 

(b)The Grantee acknowledges that the certificates evidencing
the Shares shall be endorsed with a legend, in addition to any other legends required by this Agreement or any other agreement
to which the Shares are subject, substantially as follows.

 

			THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES
LAWS, OR THE AVAILABILITY OF EXEMPTIONS FROM SUCH REGISTRATION PROVISIONS.

 

(c)The Grantee understands and agrees that neither the
Company nor any agent of the Company shall be under any obligation to recognize and transfer any of the Shares if, in the opinion
of counsel for the Company, such transfer would result in violation by the Company of any federal or state law with respect to
the offering, issuance or sale of securities.

 

    	 

    	 

    

 

7.Adjustment for Stock Splits and the Like. All
references to the number of Shares shall be appropriately adjusted to reflect any stock split, stock dividend or other change in
the Shares that may be made by the Company after the date of this Agreement.

 

8.Tax Consequences.

 

(a)The Grantee has reviewed with the Grantee’s
own tax advisors the federal, state, local and foreign (if applicable) tax consequences of this investment and the transactions
contemplated by this Agreement. The Grantee is relying solely on such advisors and not on any statements or representations of
the Company or any of its agents. The Grantee (and not the Company) shall be responsible for the Grantee’s own tax liability
that may arise as a result of this investment or the transactions contemplated by this Agreement. The Grantee understands that
Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), taxes as ordinary income the difference between
the amount paid for the Shares and the fair market value of the Shares as of the date any restrictions on the Shares lapse. The
Grantee understands that it may elect to be taxed at the time the Shares are purchased rather than when and as the Repurchase Option
or 16(b) period expires by filing an election under Section 83(b) of the Code with the I.R.S. within 30 days from the date of purchase.

 

(b)THE GRANTEE ACKNOWLEDGES THAT IT IS THE GRANTEE’S
SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE GRANTEE REQUESTS THE
COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE GRANTEE’S BEHALF.

 

(c)If the Grantee makes any tax election relating to
the treatment of the Shares under the Code, at the time of such election the Grantee shall promptly notify the Company of such
election.

 

9.Restriction on Pursuit of Product Candidates.
Grantee agrees that for a period of five (5) years from the date of this Agreement, Grantee will not, on his own behalf or on behalf
of any other person or entity, license, purchase, develop or acquire any Product Candidate unless: (A) Grantee has first recommended
that the opportunity be pursued and has offered a full presentation of the opportunity to the Company’s Strategic Transactions
Committee (“STC”); and (B) the STC has formally declined to pursue the opportunity notwithstanding Grantee’s
recommendations and presentation. The STC will not fail to approve the pursuit of a Product Candidate recommended by Grantee and
the Chief Executive Officer without reasonable justification. “Product Candidate” means a technology for the treatment
of human disease which Grantee becomes aware of prior to or during the term of his employment. Notwithstanding the foregoing, Product
Candidates primarily directed at B-cell malignancies shall be excluded from this Section 9. This Section 9 will survive the termination
of this Agreement.

 

10.General Provisions.

 

(a)This Agreement shall be construed and enforced in
accordance with and governed by the laws of the State of New York. This Agreement represents the entire agreement between the parties
with respect to the repurchase of the Shares by the Company and may be modified or amended only in a writing signed by all parties
hereto.

 

    	 

    	 

    

 

(b)In addition to the legend set forth in Section 6
of this Agreement, the certificates representing the Shares shall be endorsed with the following legend.

 

			THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RESTRICTED STOCK
ISSUANCE AGREEMENT AND TO THE RESTRICTIONS CONTAINED THEREIN, INCLUDING RESTRICTIONS UPON TRANSFER. A COPY OF THE AGREEMENT WILL
BE FURNISHED TO ANY INTERESTED PARTY UPON WRITTEN REQUEST, WITHOUT CHARGE.

 

(c)Any notice, demand or request required or permitted
to be given pursuant to the terms of this Agreement shall be in writing and shall be deemed given when delivered personally or
deposited in the U.S. mail, first class, certified or registered, return receipt requested, with postage prepaid, and addressed
to the parties at the addresses of the parties set forth at the end of this Agreement or such other address as a party may designate
by notifying the other in writing.

 

(d)The rights and obligations of the Company and the
Grantee hereunder shall be binding upon, inure to the benefit of and be enforceable against their respective successors and assigns,
legal representatives and heirs. In addition, the rights and obligations of the Company under Section 2 of this Agreement shall
be transferable to any one or more persons or entities as set forth therein.

 

(e)Either party’s failure to enforce any provision
or provisions of this Agreement, except for the exercise by the Company of its Repurchase Option, shall not in any way be construed
as a waiver of any such provision or provisions, nor prevent the party thereafter from enforcing each and every other provision
of this Agreement. The rights granted the parties herein are cumulative and shall not constitute a waiver of any party’s
right to assert all other legal remedies available to it under the circumstances.

 

(f)The Company and the Grantee agree, upon request,
to execute any further documents or instruments necessary or desirable to carry out the purposes or intent of this Agreement.

 

(g)THIS AGREEMENT DOES NOT IN ANY MANNER OBLIGATE THE
COMPANY TO CONTINUE THE GRANTEE’S RELATIONSHIP WITH THE COMPANY.

 

(h)This Agreement expresses the entire understanding
with respect to the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the
subject matter hereof.

 

[Signature Page Follows]

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the
parties have duly executed this Restricted Stock Issuance Agreement as of the day and year first set forth above.

 

	 	COMPANY:
	 	 	 
	 	Coronado Biosciences Inc.
	 	 	 
	 	 	 
	 	By:	/s/ Lindsay A. Rosenwald, MD 
	 	 	Lindsay A. Rosenwald, MD
	 	 	 
	 	 	 
	 	GRANTEE:
	 	 	 
	 	Michael S. Weiss
	 	 	 

  

	 	/s/ Michael S.
    Weiss 	 	 (SEAL)

	 	 	 
	 	Address:  	787 7th Avenue, 48th floor
	 	 	New York, NY 10019

   

    	 

    	 

    

 

EXHIBIT A

 

VESTING SCHEDULE

 

Subject to continued employment with the
Company, the shares referenced in the attached agreement shall be subject to a vesting schedule whereby the shares shall be released
from the Repurchase Option as follows:

 

		1.	16.67% of the Shares will vest on each of the first three annual anniversaries of the date of this Agreement.

 

		2.	The remainder of the Shares shall vest in five equal installments as follows:

 

Ten percent (10%) of the Shares will vest
upon the closing by the Company on each Corporate Development Transaction; provided, however, if any such Corporate
Development Transaction(s) occur prior to the fifth anniversary of this Agreement, then vesting shall occur such fifth
anniversary, provided, that Grantee remains employed through such fifth anniversary. A “Corporate Development
Transaction” means the license or purchase of a technology, product, product candidate, medical device, company (in
whole or in part), or any other significant transaction adding value to the Company through (a) his own direct outreach,
including those of Opus Point Partners employees and consultants (other than Lindsay A. Rosenwald, MD), or his network of
contacts outside the Company or (b) the efforts of “CEO’s in Residence” brought into the Company by Grantee
(as opposed to Corporate Development Transactions uncovered by other Company agents or that are sent to other Company agents
through Company contacts such as board members, bankers, etc.). In the event that, following the closing of a Corporate
Development Transaction but prior to the vesting on the fifth anniversary, Grantee’s employment is terminated by the
Company without Cause or by the Grantee for Good Reason, any unvested shares that would have vested upon the fifth
anniversary of such closing shall accelerate and vest in full on the date of such termination. Such shares shall also
immediately vest upon Corporate Transaction set forth below.

 

The Strategic Technology Committee of the Board of Directors
has the exclusive authority to determine if a transaction is sufficient to constitute a Corporate Development Transaction; provided
that the Strategic Technology Committee will not fail to approve a transaction recommended by the Chief Executive Officer as a
Corporate Development Transaction without reasonable justification.

 

In addition, upon a Corporate Transaction (as defined in the
2013 Stock Incentive Plan), the unvested portion of the Shares shall vest and be immediately released from the Repurchase Option.

 

The opportunity to vest shall continue for as long as Grantee
remains an employee.

 

    	 

    	 

    

 

EXHIBIT B

 

INVESTMENT REPRESENTATION STATEMENT

 

	Grantee:	Michael S. Weiss
	Issuer:	Coronado Biosciences Inc. (the “Company”)
	Security:	Common Stock

No. of Shares:3,958,692

 

In connection with the receipt of the above
securities, the Grantee represents to the Company as follows.

 

1.Grantee is aware of the Company’s business affairs
and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision
to acquire the securities. Grantee is acquiring the securities for investment for Grantee’s own account only and not with
a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of
1933, as amended (the “Securities Act”).

 

2.Grantee understands that the securities have not been
registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other
things, the bona fide nature of Grantee’s investment intent as expressed herein.

 

3.Grantee further understands that the securities must
be held indefinitely unless subsequently registered under the Securities Act or unless an exemption from registration is available.
Moreover, Grantee understands that the Company is under no obligation to register the securities. In addition, Grantee understands
that the certificate evidencing the securities will be imprinted with a legend that prohibits the transfer of the securities unless
they are registered or such registration is not required in the opinion of counsel for the Company.

 

	Date: February 20, 2014	GRANTEE:
	 	 
	 	 
	 	/s/
    Michael S. Weiss 
	 	Michael S. Weiss

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