Document:

Exhibit 10.3

 

RELMADA THERAPEUTICS, INC.

880 Third Avenue, 12th Floor

New York, NY 10022

 

	 	December 19, 2019

 

John Glasspool

c/o Relmada Therapeutics, Inc.

880 Third Avenue, 12th Floor

New York, NY 10022

 

Dear Mr. Glasspool:

 

On behalf of Relmada Therapeutics, Inc.
(the “Company”), I would like to welcome you to our team. I would also like to take this time to confirm our discussions
with regard to your position on our Board of Directors starting December 19, 2019.

 

	 	Director Fee:	$60,000 per year, payable in four equal quarterly installments.
	 	 	 
	 	Options:	200,000 options (the “Options”) to purchase shares of the Company’s common share $0.001 par value (the “Shares”)  The Options shall have a term of 10 years and the exercise price of the Options shall be equal to the share price of the common stock on your start date, December 19, 2019.  The Options  shall vest as follows:  twenty-five percent (25%) shall vest on the first anniversary of the Effective Date (the “Grant Date”) and the remaining seventy-five percent (75%) shall thereafter vest in equal quarterly increments of 6.25% of the initial option Grant over the following three year period.  For the avoidance of doubt, the final installment of Options shall vest on December 19, 2023.
	 	 	 
	 	Term:	You shall remain as a director of the Company from the Effective Date until your resignation, or successor, if any, is elected or qualified (the “Termination Date”).  You shall be classified as a Class III director and be up for election at the 2020 annual shareholders meeting, with a three year term thereafter. If your position is terminated prior to the Termination Date, you shall only be entitled to the director fee payable and the Options that have vested as of such date. You shall also on the date hereof sign an Indemnification Agreement with the Company.
	 	 	 
	 	Committees:	You agree to be (i) Chairman of the Company’s Corporate Governance and Nominating Committee and (ii) a member of the Company’s Compensation Committee. As of the date hereof, annual compensation for being Chairman of the Corporate Governance and Nominating Committee is $9,000 and $7,000 for being a member of the Compensation Committee.

 

On behalf of the Company’s Board,
I would like to thank you for your time and we look forward to working with you closely to make the Company a success.

 

	Yours truly,	 
	 	 
	/s/ Sergio Traversa	 
	Sergio Traversa	 
	CEO	 
	 	 
	Accepted as of the date	 
	first above written (the “Effective Date”)	 
	 	 
	/s/ John Glasspool	 
	John GlasspoolExhibit 10.4

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”)
effective this 19th day of December, 2019, by and between Relmada Therapeutics, Inc., a Nevada corporation (the “Corporation”),
and John Glasspool (“Indemnitee”).

 

RECITALS

 

WHEREAS, the Corporation,
which is organized under the Nevada Revised Statutes (the “NRS”), wishes to enter into this Agreement to set
forth certain rights and obligations of the Indemnitee and the Corporation with respect to the Indemnitee’s service as a
director of the Corporation;

 

WHEREAS, it is essential
to the Corporation that it be able to retain and attract as directors and officers the most capable persons available;

 

WHEREAS, increased
corporate litigation has subjected directors and officers to litigation risks and expenses, and the limitations on the availability
of directors and officers liability insurance have made it difficult for the Corporation to attract and retain such persons;

 

WHEREAS, the Board
of Directors of the Corporation (the “Board”) has determined that the difficulty in attracting and retaining
such persons is detrimental to the best interests of the Corporation’s stockholders and that the Corporation should contractually
obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable
law so that they will serve the Corporation free from undue concern that they will not be so indemnified;

 

WHEREAS, Indemnitee
performs a valuable service to the Corporation in Indemnitee’s capacity as a director of the Corporation;

 

WHEREAS, the Corporation’s
Amended and Restated Bylaws (the “Bylaws”) include provisions providing for the indemnification of the directors
and officers of the Corporation, including persons serving at the request of the Corporation in such capacities with other corporations
or enterprises, as authorized by the NRS;

 

WHEREAS, the Corporation’s
Certificate of Incorporation (the “Charter”), the Bylaws and the NRS, by their non-exclusive nature, permit contracts
between the Corporation and its directors and officers with respect to indemnification of such persons;

 

WHEREAS, in recognition of Indemnitee’s
need for (a) substantial protection against personal liability as a condition to Indemnitee’s service to the Corporation
in Indemnitee’s capacity as a director of the Corporation in addition to Indemnitee’s reliance on the Bylaws, which
Indemnitee believes is inadequate in the present circumstances, and (b) specific contractual assurance of Indemnitee’s rights
to full indemnification against risks and expenses (regardless of, among other things, any amendment to or revocation of the Charter
and/or the Bylaws, any change in the composition of the Corporation’s Board, or a change in control of the Corporation);

 

    

     

    

 

WHEREAS, the Corporation
intends that this Agreement provide Indemnitee with greater protection than that which is provided by the Bylaws; and

 

WHEREAS, in order
to induce Indemnitee to serve as a director of the Corporation, the Corporation has determined and agreed to enter into this Agreement
with Indemnitee.

 

NOW, THEREFORE, in
consideration of Indemnitee’s service as a director of the Corporation following the date hereof, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and Indemnitee hereby agree
as follows:

 

1. Indemnity of Indemnitee. The Corporation agrees to hold harmless and indemnify Indemnitee to the fullest extent
authorized or permitted by law, the provisions of the Charter, and the Bylaws, as the same may be amended from time to time (but,
only to the extent that such amendment permits the Corporation to provide broader indemnification rights than such law, the Charter,
or the Bylaws permitted prior to adoption of such amendment). For purposes of this Agreement, the meaning of the phrase “to
the fullest extent authorized or permitted by law” shall include, but not be limited to: (i) to the fullest extent authorized
or permitted by the provision of the NRS that authorizes or contemplates additional indemnification by agreement, or the corresponding
provision of any amendment to or replacement of the NRS or such provision thereof; and (ii) to the fullest extent authorized or
permitted by any amendments to or replacements of the NRS adopted after the date of this Agreement that increase the extent to
which a corporation may indemnify its directors and officers.

 

2.
Additional Indemnity. In addition to and not in limitation of the indemnification otherwise provided for herein,
and subject only to the exclusions set forth in Section 3 hereof, the Corporation further agrees to hold harmless and indemnify
Indemnitee:

 

(a) against any and all (i) expenses (including attorneys’ fees), retainers, court costs, transcript costs, fees
of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery
service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in any threatened, pending
or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing
or any other actual, threatened or completed proceeding, including any appeal thereof or related thereto (each, a “Proceeding”),
or responding to, or objecting to, a request to provide discovery in any Proceeding, (ii) damages, judgments, fines and amounts
paid in settlement and any other amounts that Indemnitee becomes legally obligated to pay (including any federal, state or local
taxes imposed on Indemnitee as a result of receipt of reimbursements or advances of expenses under this Agreement) and (iii) the
premium, security for, and other costs relating to any costs bond, supersedes bond, or other appeal bond or its equivalent, whether
civil, criminal, arbitrational, administrative or investigative with respect to any Proceeding (items under clauses, (i), (ii)
and (iii), collectively, the “Expenses”) actually and reasonably incurred by Indemnitee, or on Indemnitee’s
behalf, because of any claim or claims made against or by him in connection with any Proceeding, whether formal or informal (including
an action by or in the right of the Corporation), to which Indemnitee is, was or at any time becomes a party or a witness, or is
threatened to be made a party to, a participant in or a witness with respect to, by reason of the fact that Indemnitee is, was
or at any time becomes a director or officer of the Corporation, or is or was serving or at any time serves at the request of the
Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise (“Corporate
Status”);

 

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(b) against any and all Expenses actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, if
Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Corporation
to procure a judgment in its favor;

 

(c) against any and all Expenses actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, if
Indemnitee is, by reason of his or her Corporate Status, a witness in any Proceeding to which Indemnitee is not a party and is
not threatened to be made a party; and

 

(d)
otherwise to the fullest extent as may be provided to Indemnitee by the Corporation under the non-exclusivity provisions
of the NRS, the Charter and the Bylaws.

 

3. Limitations
on Additional Indemnity. No indemnity pursuant to Section 2 hereof shall be paid by the Corporation:

 

(a)
on account of any claim or Proceeding against Indemnitee for an accounting of profits made from the purchase or sale
by Indemnitee of securities of the Corporation pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934,
as heretofore or hereafter amended (the “Exchange Act”), or similar provisions of any federal, state or local
law if the final, non-appealable judgment of a court of competent jurisdiction finds Indemnitee to be liable for disgorgement under
Section 16(b) of the Exchange Act;

 

(b) on account of Indemnitee’s conduct that is established by a final, non-appealable judgment of a court of competent
jurisdiction as knowingly fraudulent or deliberately dishonest or that constituted willful misconduct;

 

(c) 
for which payment is actually made to Indemnitee under (i) a valid and collectible insurance policy, including under
any policy of insurance purchased and maintained on Indemnitee’s behalf by the Corporation or (ii) under a valid and enforceable
indemnity clause, bylaw, or agreement, including, but not limited to, an indemnity clause, bylaw, or agreement relating to another
corporation, partnership, joint venture, trust, or other enterprise for which Indemnitee is or was serving as a director or officer
at the request of the Corporation; provided, that indemnity pursuant to Section 2 hereof shall be paid by the Corporation
in respect of any excess beyond payment actually received by Indemnitee under such insurance policy, clause, bylaw or agreement;

 

(d)
if and to the extent indemnification is contrary to law, either as a matter of public policy, or under the provisions
of the Federal Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, the NRS, or any other applicable
law; or

 

(e) in connection with any Proceeding (or part thereof) initiated by Indemnitee, against the Corporation or its directors,
officers, employees or other agents, unless (i) such indemnification is expressly required to be made by law, (ii) the Corporation
has joined in the Proceeding (or relevant part thereof), (iii) the Board has consented to the initiation of such Proceeding, (iv)
such indemnification is provided by the Corporation, in its sole discretion, pursuant to the powers vested in the Corporation under
the NRS, or (v) the Proceeding (or relevant part thereof) is initiated pursuant to Section 12 hereof.

 

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4. Continuation of Indemnity. All agreements and obligations of the Corporation contained herein shall continue
during the period Indemnitee is a director or officer of the Corporation (or is or was serving at the request of the Corporation
as a director or officer of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter
so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding, whether civil, criminal,
arbitrational, administrative or investigative, including any appeal thereof or relating thereto, in respect of which Indemnitee
is granted rights of indemnification or advancement of Expenses hereunder, in each case, by reason of the fact of the Indemnitee’s
Corporate Status.

 

5. Partial Indemnification. Indemnitee shall be entitled under this Agreement to indemnification by the Corporation
for a portion of the Expenses, judgments, fines and amounts paid in settlement and any other amounts that Indemnitee becomes legally
obligated to pay in connection with any Proceeding referred to in Section 2 hereof even if not entitled hereunder to indemnification
for the total amount thereof, and the Corporation shall indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

6. Notification and Defense of Claim. To obtain indemnification under this Agreement, Indemnitee shall submit
to the Corporation a written request therefor. As soon as practicable, and in any event, not later than thirty (30) days after
Indemnitee becomes aware, by written or other overt communication, of any pending or threatened litigation, claim or assessment,
Indemnitee will, if a claim for indemnification in respect thereof is to be made against the Corporation under this Agreement,
notify the Corporation of such pending or threatened litigation, claim or assessment; but the omission so to notify the Corporation
will not relieve the Corporation from any liability which it may have to Indemnitee otherwise under this Agreement, and any delay
in so notifying the Corporation shall not constitute a waiver by Indemnitee of any of Indemnitee’s rights under this Agreement.
With respect to any such pending or threatened litigation, claim or assessment as to which Indemnitee notifies the Corporation
of the commencement thereof:

 

(a) the Corporation will be entitled to participate therein at its own expense;

 

(b) except as otherwise provided below, the Corporation may, at its option and jointly with any other indemnifying party
similarly notified and electing to assume such defense, assume the defense thereof, with counsel reasonably satisfactory to Indemnitee.
After notice from the Corporation to Indemnitee of its election to assume the defense thereof, the Corporation will not be liable
to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense
thereof except for reasonable costs of investigation or otherwise as provided below. Indemnitee shall have the right to employ
separate counsel in such Proceeding but the fees and expenses of such counsel incurred after notice from the Corporation of its
assumption of the defense thereof shall be at the expense of Indemnitee unless (i) the employment of counsel by Indemnitee has
been authorized by the Corporation, (ii) Indemnitee shall have reasonably concluded, and so notified the Corporation, that there
may be a conflict of interest between the Corporation and Indemnitee in the conduct of the defense of such action, or (iii) the
Corporation shall not in fact have employed counsel to assume the defense of Indemnitee in connection with such action; in any
of such cases the fees and expenses of Indemnitee’s separate counsel shall be at the expense of the Corporation. The Corporation
shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Corporation or as to which Indemnitee
shall have made the conclusion provided for in clause (ii) above; and

 

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(c) the Corporation shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement
of any action or claim effected without the Corporation’s written consent, which consent shall not be unreasonably withheld,
conditioned or delayed. The Corporation shall not enter into any settlement in connection with a Proceeding in any manner which
would impose any Expenses, penalties (whether civil or criminal) or limitations on Indemnitee without Indemnitee’s written
consent, which may be given or withheld in Indemnitee’s sole and reasonable discretion.

 

7. Expenses.
The Corporation shall advance, to the extent not prohibited by law, all Expenses actually and reasonably incurred by Indemnitee
in connection with any Proceeding promptly following request therefor, but in any event no later than twenty (20) days after the
receipt by the Corporation of a written statement or statements requesting such advances (which shall include invoices received
by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to
legal work performed or to expenditure made that would cause Indemnitee to waive any privilege accorded by applicable law shall
not be included with the invoice) from time to time, whether prior to or after the final disposition of any Proceeding. The right
to advancement described in this Section 7 is vested. Advances shall be unsecured and interest free. Advances shall be made
without regard to Indemnitee’s ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement. The execution and delivery to the Corporation of this Agreement
shall constitute an undertaking by Indemnitee to the fullest extent required by law to repay all advances if and to the extent
that it is ultimately determined by a court of competent jurisdiction in a final, non-appealable judgment that Indemnitee is not
entitled to be indemnified by the Corporation, and Indemnitee shall qualify for advances immediately upon such execution and delivery.
The right to advances under this Section 7 shall in all events continue until final disposition of any Proceeding, including
any appeal therein.

 

8.Contribution.

 

(a) Whether or not the indemnification provided in Section 2 is available, in respect of any Proceeding in which
the Corporation is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Corporation shall pay, in the
first instance, the entire amount of any judgment or settlement of such Proceeding without requiring Indemnitee to contribute to
such payment and the Corporation hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Corporation
shall not enter into any settlement of any Proceeding in which the Corporation is jointly liable with Indemnitee (or would be if
joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(b) Without diminishing or impairing the obligations of the Corporation set forth in Section 8(a), if, for any
reason, Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending
or completed Proceeding in which the Corporation is jointly liable with Indemnitee (or would be if joined in such Proceeding),
the Corporation shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Corporation and all officers,
directors or employees of the Corporation, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined
in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such Proceeding arose;
provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to
conform to law, be further adjusted by reference to the relative fault of the Corporation and all officers, directors or employees
of the Corporation other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on
the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines
or settlement amounts, as well as any other equitable considerations which the law may require to be considered. The relative fault
of the Corporation and all officers, directors or employees of the Corporation, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined
by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage,
the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive.

 

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(c)
The Corporation hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which
may be brought by officers, directors or employees of the Corporation, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d)To the fullest
extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for
any reason whatsoever, the Corporation, in lieu of indemnifying Indemnitee, shall contribute to the amount actually and reasonably
incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or
for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed
fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received
by the Corporation and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or
(ii) the relative fault of the Corporation (and its directors, officers, employees and agents) and Indemnitee in connection with
such event(s) and/or transaction(s).

 

9. Presumptions
and Effect of Certain Proceedings.

 

(a) In making a determination with respect to Indemnitee’s entitlement to indemnification hereunder, the person,
persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled
to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section
6 hereof. If the Corporation contests any claim or assertion that Indemnitee is entitled to indemnification hereunder, the
Corporation shall, to the fullest extent not prohibited by law, have the burden of proof to overcome such presumption in connection
with the making by such person, persons, or entity of any determination with respect to Indemnitee’s entitlement to indemnification.

 

(b) Without limiting the foregoing, if any Proceeding is disposed of on the merits or otherwise (including a disposition
without prejudice), without (i) the final disposition being adverse to Indemnitee, (ii) a final adjudication by a court of competent
jurisdiction that Indemnitee was liable to the Corporation, (iii) a plea of guilty (iv) a final adjudication by a court of competent
jurisdiction that Indemnitee did not act in good faith, and in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Corporation, or (v) with respect to any criminal proceeding, a final adjudication by a court of competent
jurisdiction that Indemnitee had reasonable cause to believe Indemnitee’s conduct was unlawful, Indemnitee shall be considered
for the purposes hereof to have been wholly successful with respect thereto.

 

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(c) The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he or she reasonably believed to be in or not opposed to the best interests of the Corporation or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that such Indemnitee’s conduct was unlawful.

 

(d) For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith to the extent
Indemnitee relied in good faith on (i) the records or books of account of the Corporation, including financial statements , (ii)
information supplied to Indemnitee by the officers of the Corporation in the course of their duties, (iii) the advice of legal
counsel for the Corporation or its Board or counsel selected by any committee of the Board or (iv ) information or records given
or reports made to the Corporation by an independent certified public accountant, an appraiser, investment banker or other expert
selected with reasonable care by the Corporation or its Board or any committee of the Board.

 

10. 
Information Sharing. To the extent that the Corporation receives a request or requests from a governmental
third party or other licensing or regulating organization (the “Requesting Agency”), whether formal or informal,
to produce documentation or other information concerning an investigation, whether formal or informal, being conducted by the Requesting
Agency, and such investigation is reasonably likely to include review of any actions or failures to act by Indemnitee, the Corporation
shall promptly give notice to Indemnitee of said request or requests and any subsequent request. In addition, the Corporation shall
provide Indemnitee with a copy of any and all information or documentation that the Corporation shall provide to the Requesting
Agency.

 

11. 
No Imputation. The knowledge and/or actions, or failure to act, of any director, officer, agent or employee
of the Corporation or the Corporation itself shall not be imputed to Indemnitee for purposes of determining any rights under this
Agreement.

 

12. 
Enforcement.

 

(a) Any
right to indemnification or advances granted by this Agreement to Indemnitee shall be enforceable by or on behalf of Indemnitee
in any court of competent jurisdiction if (i) the claim for indemnification or advances is denied, in whole or in part, (ii) no
disposition of such claim is made within ninety (90) days of request therefor; (iii) advancement of Expenses is not timely
made pursuant to Section 7, (iv) payment of indemnification pursuant to this Agreement is not made within ten (10) days
after a determination has been made that Indemnitee is entitled to indemnification, or (v) the Corporation or any other person
or entity takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or
other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to
Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by the Delaware Court of Chancery of Indemnitee’s entitlement
to such indemnification or advancement of Expenses, and the Corporation shall not oppose Indemnitee’s right to seek any such
adjudication in accordance with this Agreement. Indemnitee, in such enforcement action, if successful in whole or in part, shall
be entitled to be paid also the Expenses of prosecuting Indemnitee’s claim. It shall be a defense to any action for which
a claim for indemnification is made under Section 2 hereof (other than an action brought to enforce a claim for advance
or reimbursement of Expenses under this Agreement, provided that the required undertaking has been tendered to the Corporation)
that Indemnitee is not entitled to indemnification because of the limitations set forth in Section 3 hereof. Neither the
failure of the Corporation (including the Board, any committee of the Board, or the Corporation’s its stockholders, or any
subgroup of such directors or stockholders) to have made a determination prior to the commencement of such enforcement action that
indemnification of Indemnitee is proper in the circumstances, nor an actual determination by the Corporation (including the Board,
any committee of the Board, or the Corporation’s stockholders, or any subgroup of such directors or stockholders) that such
indemnification is improper shall be a defense to the action or create a presumption that Indemnitee is not entitled to indemnification
under this Agreement or otherwise.

 

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(b) To
the fullest extend not prohibited by law, the Corporation shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable
and shall stipulate in any such court that the Corporation is bound by all the provisions of this Agreement. If a determination
shall have been made pursuant to this Agreement that Indemnitee is entitled to indemnification, the Corporation shall be bound
by such determination in any Proceeding commenced pursuant to this Section 12, absent (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make Indemnitee’s statements not materially misleading, in
connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

 

13. Subrogation.
In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure
such rights and to enable the Corporation effectively to bring suit to enforce such rights.

 

14. Non-Exclusivity of Rights. The rights conferred on Indemnitee by this Agreement shall not be exclusive of any
other right which Indemnitee may have or hereafter acquire under any statute, provision of the Charter or Bylaws, agreement, vote
of stockholders or directors, or otherwise, both as to action in Indemnitee’s official capacity and as to action in another
capacity while holding office. To the extent that a change in applicable law, whether by statute or judicial decision, permits
greater indemnification or advancement of Expenses than would be afforded currently under the Charter or Bylaws and this Agreement,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change,
subject to the restrictions expressly set forth herein or therein. Except as expressly set forth herein, no right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. Except
as expressly set forth herein, the assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other right or remedy.

 

15. Insurance. To the extent that the Corporation maintains an insurance policy or policies providing liability
insurance for directors, trustees, general partners, managing members, officers, employees, agents or fiduciaries of the Corporation,
Indemnitee shall be covered by such policy or policies (including with respect to prior service) to the same extent as the most
favorably-insured persons under such policy or policies in a comparable position.

 

16. Enforcement; Survival of Rights.

 

(a) The Corporation expressly confirms and agrees that the Corporation has entered into this Agreement and assumed the
obligations imposed on it hereby in order to induce Indemnitee to serve as a director of the Corporation, and the Corporation acknowledges
that Indemnitee is relying upon this Agreement in serving the Corporation in such capacity.

 

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(b) The rights conferred on Indemnitee by this Agreement shall continue after Indemnitee has ceased to be a director
or officer of the Corporation or to serve at the request of the Corporation as a director or officer agent of another corporation,
partnership, joint venture, trust or other enterprise, and shall inure to the benefit of Indemnitee’s heirs, executors and
administrators.

 

(c)
The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business or assets of the Corporation, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place.

 

(d) The Corporation and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date,
may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee and the Corporation
irreparable harm. Accordingly, the parties hereto agree that each of the Corporation and the Indemnitee may enforce this Agreement
by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable
harm and that by seeking injunctive relief and/or specific performance, they shall not be precluded from seeking or obtaining any
other relief to which they may be entitled. The Corporation and Indemnitee further agree that they shall be entitled to such specific
performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without
the necessity of posting bonds or other undertaking in connection therewith. The Corporation and Indemnitee acknowledge that in
the absence of a waiver, a bond or undertaking may be required by the Delaware Court of Chancery, and they hereby waive any such
requirement of such a bond or undertaking.

 

17. No Conflicts.To the extent that any provision of this Agreement conflicts with the Charter, the Bylaws, or applicable
law, the Charter, the Bylaws, or such applicable law (as applicable) shall govern.

 

18. Separability. Each of the provisions of this Agreement is a separate and distinct agreement and independent of the
others, so that if any provision hereof shall be held to be invalid, illegal or unenforceable for any reason, (i) such invalidity,
illegality or unenforceability shall not affect the validity, legality or enforceability of the remaining provisions of this Agreement
(including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) and such other provisions shall remain enforceable
to the fullest extent permitted by law; (ii) such provision or provisions shall be deemed reformed to the extent necessary to conform
to applicable law and to give the maximum effect to the intent of the parties hereto; and (iii) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested thereby. Furthermore, if this Agreement shall be invalidated in its entirety on any
ground, then the Corporation shall nevertheless indemnify Indemnitee to the fullest extent provided by the Charter (if applicable),
the Bylaws, the NRS or any other applicable law.

 

    9

     

    

 

19. Governing Law.
This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without
regard to its principles of conflicts of laws. The Corporation and Indemnitee hereby irrevocably and unconditionally (i) agree
that any action or proceeding arising out of or in connection with this Agreement may be brought in the Delaware Court of Chancery,
(ii) consent to submit to the jurisdiction of the Delaware Court of Chancery for purposes of any action or proceeding arising
out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding
in the Delaware Court of Chancery, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding
brought in the Delaware Court of Chancery has been brought in an improper or inconvenient forum.

 

20. Amendment and
Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless in writing
signed by both parties hereto.

 

21. Identical Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence
the existence of this Agreement.

 

22.
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed
to have been duly given (i) upon delivery if delivered by hand to the party to whom such communication was directed or (ii) upon
the third business day after the date on which such communication was mailed if mailed by certified or registered mail with postage
prepaid:

 

(a) If to Indemnitee, at the address indicated on the signature page hereof.

(b) If to the Corporation, to:

 

Relmada Therapeutics, Inc.

880 Third Avenue, 12th Floor

New York, NY 10022

Attention:Chief Executive Officer

 

or to such other address as may have been furnished
to Indemnitee by the Corporation.

 

22. Headings.
The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction hereof.

 

[Remainder of Page Intentionally Left
Blank]

 

    10

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

 

	 	COMPANY:
	 	 	 
	 	RELMADA THERAPEUTICS, INC.
	 	 	 
	 	By:	/s/ Sergio Traversa
	 	Name:	Sergio Traversa
	 	Title:	Chief Executive Officer
	 	 	 
	 	INDEMNITEE:
	 	 	 
	 	/s/ John Glasspool
	 	John Glasspool

 

 

 

Signature
Page to Indemnification Agreement

 

11

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