Document:

Exhibit 10.13

  

  
    

    

    AMRYT PHARMA PLC 

     

    

    EQUITY INCENTIVE PLAN

     

    

    (adopted on 23 September 2019,

     amended on 18 May 2020)

    
      
        

    

    
    AMRYT PHARMA PLC

    

    

    EQUI TY INCENTIVE PLAN

    

    

    The Plan is established by a special resolution of members of the Company passed on 23 September 2019
      (effective on 24 September 2019), and amended by the Board on 18 May 2020. The purpose of the Plan is to provide for the granting of Equity Incentives to Directors and Employees of,
      and Consultants to, the Company or any Associated Company in accordance with the terms and conditions hereinafter contained.

    

    

    
      	
              1.

            	
              DEFINITIONS

            

    

    

    

    
      	
              1.1

            	
              In the Plan, the following expressions bear the following meanings:

            

    

    

    

    
      	

            	“Associated Company”   

            	a company under the Control of the Company or any Subsidiary of the Company or any combination thereof or in
              which the Company and/or its Subsidiaries have a shareholding interest of 20%. or greater;

    

     

    

    
      	

            	“Award Agreement”	an award agreement evidencing the grant of a Restricted Share Unit in the form set out in Schedule 3 to the
              Plan or such other form approved by the Board;

    

    

    

    	

          	“Board”	
            the board of directors for the time being of the Company or a duly constituted committee of the board of directors of the Company;

          

    

    

    	

          	“Company”	
            Amryt Pharma plc, a company registered in England and Wales under number 12107859;

          

    

    

    	

          	“Consultant”	
            any individual or company who has a consultancy agreement with the Company or any Participating Company;

          

    

    

    	

          	“Control”	
            has the meaning given in section 1124 of the Corporation Tax Act 2010;

          

    

    

    
      	

            	“Date of Grant”  

            	
              the date on which an Option is granted as determined by the Board and specified in the Option Certificate;

            

    

            

    

    	

          	“Directors”	
            in relation to the Company or any Participating Company, its board of directors and “Director” shall be construed accordingly and shall include
              non-executive members of any such board of directors;

          

    

    

    
      	

            	“Dividend Equivalent”  

            	
              a right granted to a Participant in connection with the grant of a Restricted Share Unit to receive the equivalent value (in cash or Ordinary Shares) of dividends paid on Ordinary
                Shares the subject of a Restricted Share Unit, the terms of which shall be set out in the Award Agreement;

            

    

        

    

    	

          	“Employee”	
            an employee of the Company or any Participating Company (other than one who is a Director of the Company or any Participating Company);

          

    

    

    
      	

            	“Equity Incentive”  

            	an Option or a Restricted Share Unit;

    

    
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            	“Equity Incentive Limit”    

            	
              has the meaning given in Rule 3.2, as may be varied pursuant to Rules 3.2(a) and 3.2(b);

            

    

          

    

    
      	

            	“Final Option Date”	 in relation to an Option the last date upon which any part thereof may be exercised under Rule 5, which date shall be determined by the Board and specified in the Option Certificate, but in no event shall be later than the date preceding the tenth anniversary of the Date of
              Grant;

    

     

    

    
      	

            	
              “Market Value”  

              

            	 the price which in the opinion of the Board represents the fair market value of an Ordinary Share, having
              regard in circumstances where the Ordinary Shares are traded on the Markets, to the prices prevailing in the Markets;

    

    

    

    	

          	“Markets ”	
            the AIM market operated by the London Stock Exchange plc, Nasdaq Global Select Market or any recognised investment exchange (as defined by section 285 of the Financial Services and
              Markets Act 2000) the company is or will be listed;

          

    

    

    	

          	“Nominated Person”	
            means a person who shall have been nominated for the purpose of the Plan pursuant to Rule 2.1;

          

    

    

    
      	

            	“Notice of Exercise” 

            	
               means a notice of exercise of an Option in the form set out in Schedule 2 to the Plan or such other form approved by the Board;

            

    

            

    
      	

            	
              “Option”   

              

            	an option granted pursuant to the Plan;

    

    
    

    

    
      	

            	“Option Certificate”    

            	
              an Option certificate in the form set out in Schedule 1 to the Plan or such other form approved by the Board;

            

    

          

    

    	

          	“Option Price”	
            the price at which an Ordinary Share must be subscribed on exercise of an Option;

          

    

    

    
      	

            	“Ordinary Shares”	
              the ordinary shares of £0.06 each in the capital for the time being of the
                Company;

            

    

    

    	

          	“Participant”	
            any Nominated Person (or, in the event of his death, his personal representative) who is for the time being the holder of an Equity Incentive;

          

    

    

    
      	

            	“Participating Company”	
               any company being the Company or an Associated Company to whom the Board has extended the Plan;

            

    

             

    

    	

          	“Plan”	
            the Amryt Pharma plc Equity Incentive Plan, consisting of these rules and the rules of the US Sub-Plan, as amended from time to time;

          

    

    

    
      	

            	“Restricted Share Unit”  

            	
               an unfunded, unsecured right to receive, on a future date, one Ordinary Share (or an amount in cash or other consideration determined by the Board to be of equal
                value of such share on such future date), granted pursuant to the terms of the Plan;

            

    

     

    

    
      	

            	
              “Rule”     

              

            	a rule of the Plan;

    

    

    
      	

            	“Subsidiary”  

            	has the meaning assigned in section 1159 of the Companies Act 2006;

    

    
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          	“Tax Liability”	
            the total of all and any tax, including income and employee national insurance contributions (or their equivalents in any jurisdiction), for which any Participating Company is or may be
              liabl e to account; and

          

    

    

    	

          	“US Sub-Plan”	
            the Sub Plan for US Participants, agreed to be adopted by the Board on 18 May 2020.

          

    

    

    
      	
              1.2

            	
              The definitions are for eas e of reference only and shall not in any way affect the interpretation hereof.

            

    

    

    

    
      	
              2.

            	
              ELIGIBILITY FOR PARTICIPATION

            

    

    

    

    
      	
              2.1

            	
              Power of the Board: the Plan is available for Directors, Employees or Consultants who shall be nominated for the purpose
                by the Board.

            

    

    

    

    
      	
              2.2

            	
              Absolute Discretion: the Board shall in its absolute discretion determine whether or not a person is a Director, Employee
                or Consultant.

            

    

    

    

    
      	
              2.3

            	
              No Right: no person shall be entitled as of right to participate in the Plan and the decision as to who shall have the
                opportunity of participating and the extent of his participation will, subject to the Plan, be made by the Board in its absolute discretion.

            

    

    

    

    
      	
              3.

            	
              LIMITS

            

    

    

    

    
      	
              3.1

            	
              Ten Year Limit: no Equity Incentive shall be granted under the Plan on a date later than ten years after the date of
                adoption of the Plan by the members of the Company, being 23 September 2019.

            

    

    

    

    
      	
              3.2

            	
              Overall Limits for the Plan: subject to Rules 11.1 and 11.2, the maximum number of Ordinary Shares over which Equity
                Incentives may be in issue at any one time under the Plan shall be 15% of the Company’s issued share capital from time to time (the current “Equity Incentive Limit ”), provided that:

            

    

    

    

    
      	
              (a)

            	
              on 1 January in each calendar year, the then Equity Incentive Limit will automatically increase by 5% of the Company’s issued share capital from time to time; and

            

    

    
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              (b)

            	
              the Equity Incentive Limit from time to time shall decrease by the number of Ordinary Shares in relation to which Equity Incentives are exercised by Participants
                (such decrease to be calculated by reference to the percentage that the number of Ordinary Shares in relation to which Options are exercised or Restricted Share Units vest bears to the Company’s issued share capital immediately prior to
                such exercise or vesting).

            

    

    

    

    
      	
              3.3

            	
              Power to Grant: subject to the provisions of Rule 18.1, the Board may on behalf of the Company grant Equity Incentives to
                Nominated Persons at any time or times within ten years of the date of adoption of the Plan by the members of the Company.

            

    

    

    

    
      	
              3.4

            	
              Non-Assignable: Equity Incentives shall be personal to the grantee and non-assignable, subject to Rules 6.3 and 7.1,
                unless the Board in its sole discretion consents to an assignment or transfer. Any purported transfer, assignment, mortgage or charge of an Equity Incentive, without the consent in writing of the Board, shall:

            

    

    

    

    
      	
              (a)

            	
              in the case of an Option, cause the Option to immediately lapse; and

            

    

    

    

    
      	
              (b)

            	
              in the case of a Restricted Share Unit, cause the Restricted Share Unit to terminate.

            

    

    

    

    
      	
              3.5

            	
              Option Certificates and Award Agreements: an Option Certificate shall be issued to a Participant in respect of the grant
                of each Option and an Award Agreement shall be issued to a Participant in respect of the grant of each Restricted Share Unit.

            

    

    

    

    
      	
              3.6

            	
              Right to Renounce: a Nomiated Person to whom an Equity Incentive has been granted may, by notice in writing within 30 days
                after receipt of the Option Certificate or Award Agreement (as the case may be), renounce such Equity Incentive, in which event it shall be deemed never to have been granted.

            

    

    

    

    
      	
              4.

            	
              OPTION PRICE

            

    

    

    

    The Option Price in relation to an Option shall be determined by the Board but shall not be less
      than the nominal value of an Ordinary Share. If an Option is to be granted at Market Value the Market Value of each Ordinary Share comprised in the Option is to be computed as at the day prior to the Date of Grant.

    

    

    
      	
              5.

            	
              PERIOD AND PROCEDURE FOR EXERCISE OF OPTIONS

            

    

    

    

    
      	
              5.1

            	
              Subject to Rules 5.2, 6, 8, 9 and 12.2, an Option may be exercised at any time or times on or prior to the Final Option Date. An Option shall expire immediately
                af ter the Final Option Date to the extent that it has not been exercised.

            

    

    

    

    
      	
              5.2

            	
              Subject to the terms of the Plan, the Board may, when it grants an Option, in its discretion attach any condition to the exercise of such Option, including any
                condition relating to the future performance of a Participant, such that the Option or portion(s) thereof may not be exercised until such conditions have been met. Such conditions will be set out in the Option Certificate.

            

    

    

    

    
      	
              5.3

            	
              Upon the exercise of an Option in whole or in part the Participant shall deliver a Notice of Exercise and pay the Option Price in respect of the Ordinary Shares
                for which the Option is being exercised to the Company, in cash or by cheque or by same-day sale exercise through a broker designated by the Company, or by any other means or arrangements reasonably approved by the Board, and shall deliver
                the Option Certificate to the Company and the Company shall issue the appropriate Ordinary Shares to the Participant and deliver to the Participant any appropriate balance Option Certificate.

            

    

    

    

    
      	
              6.

            	
              RESTRICTED SHARE UNITS

            

    

    

    

    
      	
              6.1

            	
              Subject to the terms of the Plan, the Board may, when it grants a Restricted Share Unit, in its absolute discretion attach any condition to the vesting or
                forfeiture of such Restricted Share Unit, including any condition relating to the future performance of a Participant, such that the Restricted Share Unit or portion(s) thereof may not vest until such condition has been met. Such conditions
                will be set out in the Award Agreement.

            

    

    

    

    
      	
              6.2

            	
              The Board may, when it grants a Restricted Share Unit, provide that:

            

    

    

    

    
      	
              (a)

            	
              settlement of a Restricted Share Unit will occur upon, or as soon as reasonably practicable after the Restricted Share Unit vests or will instead be deferred, on
                a mandatory basis, at the Participant’s election; and/or

            

    

    

    

    
      	
              (b)

            	
              a Participant is entitled to receive Dividend Equivalents.

              

            

    

    

    

    
      	
              6.3

            	
              In the event of the death, retirement, early retirement due to disability or ill health, resignation or dismissal of a Participant, the Board in its absolute
                discretion will determine the terms relating to the vesting of any unvested Restricted Share Unit and such terms shall be set out in the Award Agreement.

            

    

  

  
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              7.

            	
              DEATH AND TRANSFER OF RIGHTS RELATING TO OPTIONS

            

    

    

    

    
      	
              7.1

            	
              In the event of the death of a Participant on or prior to the Final Option Date the personal representative of such deceased Participant may, at any time
                and from time to time but no later than one year after the date of such death (or, if earlier, the Final Option Date), exercise the Option, to the extent exercisable on the date of the Participant’s death, in whole or in part. Upon the
                expiration of such period the Option shall lapse to the extent that it shall not have been so exercised.

            

    

    

    

    
      	
              7.2

            	
              To the extent an Option is not exercisable on the date of a Participant’s death, the Option shall lapse on such date unless the Board in its sole discretion
                determines that such Option shall be exercisable in whole or in part after such date and if the Board does so determine, the Option shall be exercisable in accordance with Rule 7.1.

            

    

    

    

    
      	
              8.

            	
              RETIREMENT, RESIGNATION, ETC.

            

    

    

    

    
      	
              8.1

            	
              If a Participant ceases to be an Employee or Director or Consultant on account of:

            

    

    

    

    
      	
              (a)

            	
              retirement at normal retirement age; or

            

    

    

    

    
      	
              (b)

            	
              resignation or early retirement due to disability or ill health (such matter to be determined by the Board in its absolute discretion),

            

    

    

    

    the Participant may at any time and from time to time but no later than one year after he shall
      have so resigned or retired (or, if earlier, the Final Option Date), exercise the Option, to the extent exercisable on the date of such resignation or retirement, in whole or in part. Upon the expiration of such period, the Option shall lapse to the
      extent that it shall not have been so exercised.

    

    

    
      	
              8.2

            	
              To the extent an Option is not exercisable as of the date of a Participant’s resignation or retirement as described in Rule 8.1, the Option shall lapse on such
                date unless the Board in its sole discretion determines that such Option shall be exercisable in whole or in part after such date and if the Board does so determine, the Option shall be exercisable in accordance with Rule 8.1.

            

    

    

    

    
      	
              8.3

            	
              If a Participant ceases on account of resignation, retirement, dismissal (subject to the provisions of Rule 8.4) or otherwise (except on death, retirement or resignation or early
                retirement due to disability or ill health) to be an Employee, Director or Consultant, each Option held by the Participant, to the extent not exercisable at the date of such cessation, shall lapse on such date. To the extent an Option is
                exercisable at the date of such cessation, it may be exercised by the Participant in whole or in part within 90 days after such date (or, if earlier, until the Final Option Date), failing which it will lapse. Cessation shall be on
                completion of the appropriate notice period required from either the employee or Participating Company employing or engaging him to terminate the employment.

            

    

    

    

    
      	
              8.4

            	
              If a Participant’s employment, office, or consultancy is terminated summarily for serious misconduct by the Participating Company employing or engaging him, each
                Option held by the Participant shall lapse in full immediately upon such termination.

            

    

    

    

    
      	
              8.5

            	
              Notwithstanding the foregoing provisions, the Board in its sole discretion may determine that if circumstances so warrant, an Option may be exercised after the
                Participant ceases to be an Employee, Director or Consultant during a longer period than the period provided under the foregoing provisions and/or that an Option, to the extent not exercisable on the date a Participant ceases to be an
                Employee, Director or Consultant, shall be exercisable in full or in part after such cessation and may be exercised within a period specified by the Board, but in no event may an Option be exercised later than the Final Option Date and an
                Option will lapse to the extent not exercised within the period specified by the Board.

            

    

    
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              8.6

            	
              In no circumstances shall any Participant who ceases to serve as an Employee, Director or Consultant be entitled to any compensation for any loss of any right or
                benefit or prospective right or benefit under the Plan which he might otherwise have enjoyed whether such compensation is claimed by way of damages for wrongful dismissal or other breach of contract or by way of compensation for loss of
                office or otherwise howsoever.

            

    

    

    

    
      	
              9.

            	
              MERGER OR TAKEOVER

            

    

    

    

    
      	
              9.1

            	
              In the event that the Company is a party to a merger, takeover or other reorganisation, including but not limited to a court sanctioned compromise or scheme
                arrangement, pursuant to which a party or parties acting in concert obtain(s) Control of the Company, or the Board considers that this is about to occur, or notice is given of a resolution for the voluntary winding up of the Company, each
                Equity Incentive shall automatically accelerate and, in the case of an Option, become exercisable in full and, in the case of a Restricted Share Unit, vest in full, in each case, as of a date specified by the Board, conditional upon such
                merger, takeover or other reorganisation or winding up, the Board shall at its discretion:

            

    

    

    

    
      	
              (a)

            	
              with respect to each Option, request the Participant to exercise the Option within such period and subject to such conditions as the Board may at its discretion
                determine and if the Participant does not comply with such request the Option shall lapse on a date specified by the Board;

            

    

    

    

    
      	
              (b)

            	
              with respect to each Option, arrange for payment of a cash settlement to the Participant, in cancellation of the Option, equal per Ordinary Share subject to the
                cancelled Option to the excess of the amount to be paid for an Ordinary Share in the merger or takeover or reorganisation or winding up over the Option Price; and/or

            

    

    

    

    
      	
              (c)

            	
              make such other comparable arrangements to replace any Option(s) (whether exercisable or not) or any Restricted Share Unit as it determines in its absolute
                discretion.

            

    

    

    

    
      	
              9.2

            	
              For the avoidance of doubt, a reverse takeover by the Company of another company or entity will not result in an acceleration of vesting of an Equity Incentive.

            

    

    

    

    
      	
              10.

            	
              RIGHTS OF A PARTICIPANT

            

    

    

    

    
      	
              10.1

            	
              Any Participant who has been granted an Equity Incentive shall not have any rights as a member of the Company unless and until such participant has been issued
                Ordinary Shares pursuant to the terms of the Equity Incentive.

            

    

    

    

    
      	
              10.2

            	
              All Ordinary Shares issued on any exercise of an Option or the vesting of a Restircted Share Unit shall rank pari passu in

                all respects with the Ordinary Shares already in issue.

            

    

    

    

    
      	
              11.

            	
              TAX LIABILITIES

            

    

    

    

    
      	
              11.1

            	
              Each Participant is responsi ble for all Tax Liability and will pay or enter into arrangements with the relevant Participating Company to pay all and any
                Tax Liability, failing which the Company shall not issue or transfer Ordinary Shares to the Participant on exercise of his Options or vesting of his Restricted Share Units (as the case may be).

            

    

    
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              11.2

            	
              If requested by the Participating Company, the Participant shall enter into a joint election under section 431(1) or 431(2) of the Income Tax (Earnings and
                Pensions) Act 2003 or other relevant legislation in respect of Ordinary Shares to be acquired on exercise of an Option or vesting of a Restricted Share Unit (as the case may be).

            

    

    

    

    
      	
              12.

            	
              BONUS, RIGHTS ISSUES, VARIATION IN SHARE CAPITAL

            

    

    

    

    
      	
              12.1

            	
              If a consolidation or subdivision of a reduction of the share capital of the Company or if any other variation in the share capital of the Company occurs, the
                Board may make such adjustment to:

            

    

    

    

    
      	
              (a)

            	
              the Option Price and/or the number and/or class of Ordinary Shares subject to each Option;

            

    

    

    

    
      	
              (b)

            	
              the terms of any unvested Restricted Share Unit; and/or

            

    

    

    

    
      	
              (c)

            	
              the share limit set out in Rule 3.4, 

              

            

    

    
       

      

      
        	

              	in each case, as it deems appropriate.

      

       

      

      	
              12.2

            	
              If holders of Ordinary Shares are granted rights to subscribe for further shares (such rights being related to the number of Ordinary Shares held by them respectively) the Board shall
                at its absolute discretion decide whether the granting of such rights and the subscriptions made thereunder shall result in the depletion in the value of each Ordinary Share and the Board may make such adjustment(s) to:

            

    

    

    

    
      	
              (a)

            	
              the Option Price and/or the number and/or class of Ordinary Shares subject to each Option;

            

    

    

    

    
      	
              (b)

            	
              the terms of any unvested Restricted Share Unit; and/or

            

    

    

    

    
      	
              (c)

            	
              the Ordinary Share limit set out in Rule 3.4, 

              

            

    

    
       

      

      
        	

              	in each case, as it deems appropriate.

      

       

      

      	
              13.

            	
              NO SHARE ISSUES AT A DISCOUNT

            

    

    

    

    Notwithstanding any other term of the Plan, no Equity Incentive shall be
      granted to subscribe for any Ordinary Shares at a discount to the nominal value of the Ordinary Shares.

    

    

    
      	
              14.

            	
              LIQUIDATION

            

    

    

    

    In the event of a liquidator being appointed to the Company:

    

    

    
      	
              (a)

            	
              all Options shall immediately cease to be exercisable; and

            

    

    

    

    
      	
              (b)

            	
              all unvested Restricted Share Units shall immediately terminate,

            

    

    

       

     
    in each case, Participants shall not be entitled to damages or other compensation of any kind, save
      to the extent the Board in its absolute discretion determines otherwise prior to such liquidation.

    
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              15.

            	
              EXCHANGE QUOTATIONS

            

    

    

    

    The Company will within five working days after the exercise of an Option or the vesting of a
      Restricted Share Unit apply for permission to deal in the Ordinary Shares or securities of the Company (whichever one traded) issued pursuant to the exercise of an Option or the vesting of a Restricted Share Unit on AIM or such other stock exchange
      upon which the Ordinary Shares or securities are for the time being quoted.

    

    

    
      	
              16.

            	
              ALTERATIONS

            

    

    

    

    The Company may at any time by resolution of the Board vary, amend or revoke any of the provisions
      of the Plan in such manner as it considers fit.

    

    

    
      	
              17.

            	
              AUTHORITY TO ALLOT

            

    

    

       

     
    The Company shall take all necessary steps (including the passing of resolutions of the Company) to
      ensure that the directors of the Company shall, at all times, be generally and unconditionally authorised to allot Ordinary Shares pursuant to the terms of the Plan.

    

    

    
      	
              18.

            	
              TERMINATION

            

    

    

    

    
      	
              18.1

            	
              The Plan may be terminated at any time by resolution of the Board.

            

    

    

    

    
      	
              18.2

            	
              Subsequent to any termination of the Plan under Rule 18.1, the Company shall not grant any further Equity Incentives provided that:

            

    

    

    

    
      	
              (a)

            	
              such termination shall not affect or modify any subsisting rights or obligations of Participants in respect of any existing Equity Incentive; and

            

    

    

    

    
      	
              (b)

            	
              notwithstanding such termination, the Company shall continue to administer and manage the Plan in accordance with the Rules.

            

    

    

    

    
      	
              19.

            	
              GENERAL

            

    

    

    

    
      	
              19.1

            	
              If the Ordinary Shares are listed on a stock exchange or securities market, the Company and each Participant shall be subject to such insider dealing policy as
                the Company may implement from time to time for its officers and Employees imposing restrictions on transactions in the Ordinary Shares during specified periods.

            

    

    

    

    
      	
              19.2

            	
              In the event of any dispute or disagreement as to the interpretation of the Plan, or as to any question or right arising from or related to the Plan, the decision
                of the Board shall be final and binding upon all persons.

            

    

    

    

    
      	
              19.3

            	
              Any notice or other communication under or in connection with an Equity Incentive and/or the Plan may be given by personal delivery or by sending the same by
                prepaid post:

            

    

    

    

    
      	
              (a)

            	
              in the case of the Company, to the Company Secretary at the Company’s registered office;

            

    

    

    

    
      	
              (b)

            	
              in the case of a Nominated Person or a Participant, to his last known address provided to the Company, or to the address of the place of business at which he
                performs the whole or substantially the whole of his duties of his employment or engagement; and

            

    

    

    

    
      	
              (c)

            	
              where a notice or other communication is personally delivered, it shall be deemed to have been received at the time of delivery and where it is posted to an
                address within Ireland, it shall be deemed to have been received forty-eight (48) hours after it was put into the post properly addressed and stamped, and where it is posted to an address outside Ireland, it shall be deemed to have been
                received on the fifth business day after the date it was put into the post properly addressed and stamped. If a Participant is an Employee and is not on extended leave from employment, notice to such Participant may be sent by email to the
                address at the Company or Participating Company at which the Participant customarily receives email correspondence in connection with his employment and shall be deemed to have been received upon transmission.

            

    

  

  
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              19.4

            	
              The Board shall be entitled to authorise any person to execute on behalf of a Participant, at the request of the Participant, any document relating to the Plan,
                insofar as such document is required to be executed pursuant thereto.

            

    

    

    

    
      	
              19.5

            	
              By participating in the Plan, each Participant consents to the holding and processing of personal data relating to him by the Company or Participating Company for
                all purposes relating to the operation of the Plan which purpose include, but are not limited to:

            

    

    

    

    
      	
              (a)

            	
              administering and maintaining Participant records;

            

    

    

    

    
      	
              (b)

            	
              providing information to tax and regulatory authorities;

            

    

    

    

    
      	
              (c)

            	
              providing information to registrars, brokers and other third party administrat ors of the Plan; and

            

    

    

    

    
      	
              (d)

            	
              providing information, on a confidential basis, to potential purchasers of the Company or the business in which the Participant is employed.

            

    

    

    

    
      	
              19.6

            	
              The Plan shall be governed by, and construed and interpreted in accordance with, English law and the Company and Participants agree to submit to the non-exclusive
                jurisdiction of the Courts of England in relation to any claim, dispute or difference which may arise under the Plan.

            

    

    
      10

      
        

    

    SCHEDULE 1

     

      

     OPTION CERTIFICATE

     

      

     

      

    AMRYT PHARMA PLC EQUITY INCENTIVE PLAN 

     

      

    THIS DOCUMENT IS IMPORTANT

     

      

    	
            Name of Participant:

          	 	 
	 	 	 
	
            Address of Participant:

          	

          	

          
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
            Date of Grant:

          	 	 
	 	 	 
	
            Number of Ordinary Shares:

          	 	 
	 	 	 
	
            Option Price

          	 	 
	
            per Ordinary Share:

          	 	 
	 	 	 
	
            Vesting Conditions:

          	 	 
	 	 	 
	 	 	 
	 	 	 
	
            Last Date on which Notice of Exercise of Option can be given

          	 	 
	
            (Final Option Date):

          	 	 

    

    

    

    

    THIS IS TO CERTIFY that the Participant named
        above was on the above Date of Grant granted an option (this “Option”) to subscribe for the above number of Ordinary Shares at the above Option Price per Ordinary Share.

    

    

    This Option is subject to the terms and conditions of the Amryt Pharma plc Equity Incentive Plan
      (the “Plan”), a copy of which accompanies this Option Certificate. Unless otherwise defined herein, capitalised terms shall have the meanings given to them in the Plan.

    

    

    If the Participant wishes to renounce this Option, he or she may do so by notifying the Company in
      writing by 30 days after date of delivery of this Option Certificate.

    

    

    Please note that each Employee is entirely responsible for the declaration
      and payment of any Tax Liability that may arise from the exercise of this Option. The Company accepts no liability whatsoever in relation to the payment of any Tax Liability in relation to this Option.

    
      11

      
        

    

    	
            Signed by

          	 
	
            for and on behalf of

          	 
	
            AMRYT PHARMA PLC

          	 
            

            

          
	

          	 Signature
	 	 
	 	
             

            

            

          
	
            

            

          	 Print name

    
      12

      
        

    

    SCHEDULE 2

     

      

    NOTICE  OF EXERCISE

    

    

    

    

    

    

    	

          	TO:	
            The Company Secretary 

               45 Mespil Road 

              Dublin 4 

              Ireland

            

          

    

    

    

    

    Amryt Pharma plc (the “Company”) 

    

     

      

    Amryt Pharma plc Equity Incentive Plan

     

      

    	
            Date of Grant of Option:

          	 
	 	 
	
            Option Price per Ordinary Share:

          	 
	 	 
	
            Total number of Ordinary Shares subject to Option:

          	 
	 	 
	
            I hereby exercise the above option in respect of

          	 	
            * Ordinary Shares.

          
	 	 
	
            I enclose payment of the Option Price by [cheque][cash][cashless exercise][other method of payment].

          
	 	 

    

    

    	 	 
	
            Full Name:

          	 
	 	 
	
            Address:

          	 
	 	 
	
            Signature:

          	 
	 	 
	
            Date:

          	 
	 	 

    *Note

    

    

    Insert the number of Ordinary Shares in respect of which the option is exercised.

    

    

    
      13

      
        

    

    SCHEDULE 3 

     

      

    AWARD AGREEMENT

     

      

     

    

  14Exhibit 10.14

      

  

   
  
    

    

    AMRYT PHARMA PLC 

    EQUITY INCENTIVE PLAN

    SUB-PLAN FOR U.S. PARTICIPANTS

     

    

    

    
      	
              1.

            	
              Purpose and Applicability.

            

    

    
       

      

    

    
      
        (a)  This Sub-Plan for U.S. Participants (the “U.S. Sub-Plan”) applies to employees, directors and consultants of Amryt Pharma plc (the “Company”) and of each Subsidiary (as defined below), who are either U.S. residents or U.S. taxpayers, and who shall have been
          nominated to participate in the U.S. Sub-Plan by the Board (each such person, a “U.S. Participant”). Pursuant to Section 16 of the Plan, the Board has the authority to amend the Plan and has determined to establish a sub-plan for the benefit of U.S. Participants. The purpose of
          the U.S. Sub-Plan is to facilitate compliance with U.S. tax, securities and other applicable laws, and to permit the Company to issue tax-qualified Incentive Stock Options (as defined below) to U.S. Participants who are Employees and U.S.
          Restricted Share Units to U.S. Participants who are Employees, Directors and Consultants.

      

    

     

    

    
      (b)  All U.S. Options and U.S. Restricted Share Units granted to U.S. Participants will be governed by the terms of the Plan, when read together with the U.S. Sub-Plan (on the basis that, for these purposes, when reading the
        Plan, references to an “Equity Incentive” includes a “U.S. Equity Incentive”; the “Plan” shall include the U.S. Sub-Plan, a
          “Participant” includes a “U.S. Participant” who has been granted a U.S. Equity Incentive; an “Option” includes a “U.S. Option”; a “Restricted Share Unit” includes a “U.S. Restricted Share Unit”; and in rules 2.2, 5.2 and
        8 of the Plan, the terms “Employee”, “Director” and “Consultant” shall have the meanings set out in this Sub-Plan; save in the case of each of the foregoing, where the context
        requires otherwise or the Board considers otherwise). In the case of an irreconcilable contradiction (as determined by the Board) between the provisions of the U.S. Sub-Plan and the Plan, the provisions of the U.S. Sub-Plan will govern. Capitalized
        terms contained herein have the same meanings given to them in the Plan, unless otherwise provided by the U.S. Sub-Plan.

    

    

    

    
      (c)  The U.S. Sub-Plan is effective as of 18 May 2020, the date it was agreed to be adopted by the Board (the “Effective Date ”).

       

        

    

    
      	
              2.

            	
              Definitions.

            

    

     

    

    In the U.S. Sub-Plan, the following words will have the meaning as defined below:

    

    

    “Code” means the U.S. Internal Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.

    

    

    “Consultant” means any natural person that provides bona fide services
      to the Company or any Subsidiary for a period of at least 12 months, on a continuous basis, and such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or
      maintain a market for the Company’s securities.

    
      
        

    

    “Director” means a director of the Company or any Subsidiary that is not also an Employee.

     

    

    “Disability” means the inability of a U.S. Participant to engage in any substantial
        gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than twelve (12) months as provided in
        Sections 22(e)(3) of the Code, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted under the circumstances.

    

    

    “Employee” means an employee of the Company or any Subsidiary. 

     

        

    “Fair Market Value” of the Ordinary Shares on any given date means:

     

      

    
      	
              (i)

            	
              the closing price of an Ordinary Share, on the last preceding date on which there was a reported sale on the principal stock market or exchange on which the
                Ordinary Shares are quoted or traded; or

            

    

    

    

    
      	
              (ii)

            	
              if the Ordinary Shares are not so quoted or traded, the fair market value of an Ordinary Share as determined in good faith by the Board in a manner consistent with
                Section 409A of the Code.

            

    

    

    

    “Incentive Stock Option” or “ISO” means a share option that is intended to be, and qualifies as, an incentive stock option within the meaning of
        Section 422 of the Code.

    

    

    “Nonstatutory Stock Option” or “NSO” means a share option that does not qualify as an Incentive Stock Option.

    

    

    “Plan” means the Company’s Equity

        Incentive Plan adopted on 23 September 2019 (effective on 24 September 2019) and amended on 18 May 2020.

    

    

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

     

    

    “Subsidiary” means a corporation, whether now or hereafter existing, in an unbroken chain of corporations beginning with the Company, if each corporation other than the Company owns shares possessing 50% or more of the total combined voting power of all classes of shares
        in one of the other corporations in such chain, as provided in the definition of a “subsidiary corporation” contained in Section 424(f) of the Code.

    

    

    “Ten Percent Owner” means an Employee who is a U.S. Participant
        and owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all share classes of the Company or any parent (as defined in Section 424(e) of the Code) or any
        Subsidiary.

    

    

    “U.S.” means the United States of America.

    
      
        

    

    “U.S. Equity Incentive” means a U.S. Option or a U.S. Restricted Share Unit.

     

    

    “U.S. Option” means a Nonstatutory Stock Option or Incentive Stock Option granted under the U.S. Sub-Plan of the Plan.

    

    

    “U.S. Restricted Share Unit” means a Restricted Share Unit granted under the U.S.
        Sub-Plan of the Plan.

    

    

    
      	
              3.

            	
              Additional Terms and Conditions Applicable to all U.S. Equity Incentives Granted to U.S. Participants.

            

       

      

      
        (a)  Form of Option Certificate and Award Agreement. The Option Certificate and
            Award Agreement for U.S. Participants shall be in substantially the form approved for use under the Plan, as may be amended from time to time by the Board. At the time of grant of a U.S. Option, the Board shall indicate if all or a portion of
            the U.S. Option is designated as an Incentive Stock Option and the form of Option Certificate shall specify the type of U.S. Option.

        

          (b)  Eligibility. U.S. Equity Incentives may be granted to Employees,
              Directors and Consultants.

        

        

        (c)  Maximum Term of U.S. Options. Subject to the provisions of Section 4(d) below regarding Incentive Stock Options granted to a Ten Percent Owner, no U.S. Option granted to a U.S. Participant will be exercisable
            after the Final Option Date, or such shorter period as set forth in the Plan or determined by the Board and specified in the Option Certificate. 

      

    

    

    

    (d)  Option Price. Subject to the provisions of Section 4(d) below regarding Incentive Stock Options granted to a Ten Percent Owner, the Option Price of
      each U.S. Option granted to a U.S. Participant will be not less than one hundred percent (100%) of the Fair Market Value of the Ordinary Shares subject to the U.S. Option on the Date of Grant. 

    

    

    (e)  Adjustments in Connection with a Reorganisation and Variations in Share Capital.
        Notwithstanding rule 9 of the Plan in the event of a merger, takeover or other reorganisation, or rule 12 of the Plan in the event of any variation in share capital, if the U.S. Equity Incentives are replaced or there is a change in the share
        capital, the Board shall appropriately and proportionately adjust the number and class of securities subject to, outstanding U.S. Equity Incentives, the Option Price of outstanding and unvested U.S. Options and the number and class of securities
        subject to the limit on U.S. Options set forth in Section 4(c) hereof in a manner that complies with Sections 422 and 409A of the Code, as applicable. The Board will make such adjustments, and its determination will be final, binding and
        conclusive.

    

    (f)  No Right to Employment or Other Status. No person shall have any claim or right to be granted a U.S. Equity Incentives under the U.S. Sub-Plan, and the grant of a U.S. Equity Incentive shall not be construed as giving a U.S. Participant the right to continued
        employment or any other service relationship with the Company or any Subsidiary.

     

      

    (g)  Vesting and Exercise of U.S. Options and Vesting of U.S. Restricted Share Units. U.S. Options granted to U.S. Participants shall vest in accordance with the t erms of the Option Certificate, and shall have a term and may be exercised following termination of employment or service as set forth in the
        Plan and Option Certificate. In no event may any U.S. Option be exercised later than the Final Option Date. U.S. Restricted Share Units granted to U.S. Participants shall vest in accordance with the terms of the Award Agreement and shares or cash
        shall be delivered in compliance with Section 409A of the Code or pursuant to the “short term deferral” exception (as that term is used in the final regulations and other guidance
        issued under Section 409A of the Code, including Treasury Regulation Section 1.409A -1(b)(4)(i)), and shall be construed accordingly.

    
      
        

    

    (h)  Conditions on Delivery of Ordinary Shares. Notwithstanding anything herein to
      the contrary, the Company shall not be required to issue or deliver any evidence of book entry or certificates evidencing Ordinary Shares pursuant to the exercise of a U.S. Option or the vesting of a U.S. Share Restricted Unit under the Sub-Plan,
      unless and until the Board has determined, with advice of counsel (to the extent the Board deems such advice necessary or advisable), that the issuance and delivery is in compliance with all applicable laws, regulations of governmental authorities
      and, if applicable, the requirements of any exchange on which the Ordinary Shares are listed, quoted or traded. All Ordinary Shares issued pursuant to the U.S. Sub-Plan shall be subject to any stop-transfer orders and other restrictions as the Board
      deems necessary or advisable to comply with U.S. federal, state or foreign jurisdiction, securities or other laws and/or the rules of any market or quotation system on which the Ordinary Shares are listed, quoted or traded. The Board may place
      legends on any certificate or notations on any book entry to reference restrictions applicable to the Ordinary Shares. In addition to the terms and conditions provided herein, the Board may require that an individual make such reasonable covenants,
      agreements, and representations as the Board, in its absolute discretion, deems necessary or advisable in order to comply with any such laws, regulations, or requirements.

    

    

    
      	
              4.

            	
              Provisions Applicable to Incentive Stock Options.

            

       

      

      
        (a)   Eligible Recipients of ISOs. Incentive Stock
            Options may be granted only to Employees who are U.S. Participants.

         

         

          

        (b)  Designation of ISO Status. The Board action
            approving the grant of an Incentive Stock Option to a U.S. Participant must specify that the U.S. Option is intended to be an Incentive Stock Option. If a U.S. Option is not specifically designated as an Incentive Stock Option, or if a U.S.
            Option is designated as an Incentive Stock Option but some portion or all of the U.S. Option fails to qualify as an Incentive Stock Option under the applicable rules, then the U.S. Option (or portion
            thereof) will be a Nonstatutory Stock Option. The Company shall have no liability to a U.S. Participant, or any other party, if a U.S. Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock
            Option or for any action taken by the Board to amend, modify or terminate the Plan, the U.S. Sub-Plan or any U.S. Option, including without limitation, the conversion of an Incentive Stock Option to a Nonstatutory Stock Option.

         

          

           (c)  Maximum Plan Shares Issuable On Exercise of ISOs. Subject to adjustment under Section 3(e) of the Sub-Plan, the maximum aggregate number of Ordinary Shares that may be issued upon
        the exercise of Incentive Stock Op tions is 15,000,000 Ordinary Shares.
        

        

        (d)  Limits
            for Ten Percent Owners. A person who is a Ten Percent Owner may not be granted an Incentive Stock Option unless the Option Price of such U.S. Option is at least one hundred ten percent (110%) of the Fair Market Value on the Date of Grant
          and the U.S. Option is not exercisable after the expiration of five (5) years from the Date of Grant.

      

    

    
      
        

    

     (e)  No Transfer. As provided by Section 422(b)(5) of the Code, and if
      permitted by the Plan, an Incentive Stock Option will not be transferable except by will or by the laws of descent and distribution, and will be exercisable during the lifetime of the U.S. Participant only by the U.S. Participant. If the Board elects
      to allow the transfer of a U.S. Option by a U.S. Participant that is designated as an Incentive Stock Option, such transferred U.S. Option will automatically become a Nonstatutory Stock
      Option.

     

    

    
       (f)   US $100,000 Limit. As provided by Section 422(d) of the Code and applicable
        regulations thereunder, to the extent that the aggregate Fair Market Value (determined on the Date of Grant) of Ordinary Shares with respect to which Incentive Stock Options are exercisable for the first time by any U.S. Participant during any
        calendar year (under all plans of the Company and any Subsidiary) exceeds US$100,000 (or such other limit established in the Code) or otherwise does not comply with the rules governing Incentive Stock Options, the U.S. Option or portion thereof
        that exceed such limit (according to the order in which they were granted) or otherwise do not comply with such rules will be treated as a Nonstatutory Stock Option, notwithstanding any contrary provision of the applicable Option Certificate.
         

          

      

    

    (g)  Post-Termination Exercise Period. To obtain the U.S. federal income tax advantages associated with an Incentive Stock Opti on, the Code
      requires that at all times beginning on the Date of Grant and ending on the day three (3) months before the date of exercise of the U.S. Option, the U.S. Participant must be an Employee (except in the event of the U.S. Participant’s death or Disability, in which case longer periods apply). The U.S. Option will no longer be treated as an Incentive Stock Option and shall automatically be converted into a Nonstatutory Stock Option
      if the U.S. Participant continues to provide services as a Consultant after such U.S. Participant’s employment terminates or if the U.S. Participant otherwise exercises the U.S.
      Option more than three (3) months after the date his or her employment terminates for any reason other than death or within 12 months of a Disability.

     

    

    
      (h)  Disqualifying Disposition. Each U.S. Participant awarded an ISO under the Sub- Plan shall if requested by the Company, notify the Company in
        writing of the date the U.S . Participant makes a “disqualifying disposition” of any Ordinary Share acquired pursuant to the exercise of such ISO. A “disqualifying disposition” is any disposition (including any sale) of such Ordinary Shares before
        the later of (i) two (2) years after the Date of Grant of the ISO and (ii) one year after the date the U.S. Participant acquired the Ordinary Shares by exercising the ISO.

    

    

    

    
      	
              5.

            	
              Terms Applicable to All U.S. Restricted Share Units Granted to U.S. Participants.

            

    

    
      
        

        

        (a)  Section
          409A of the Code. The Company intends that the grant of any U.S. Restricted Share Unit to a U.S. Participant be structured to comply with, or be exempt from, Section 409A of the Code, such that no adverse tax consequences, interest, or
        penalties under Section 409A of the Code shall apply. Notwithstanding anything in the Plan, the U.S. Sub-Plan, or any Award Agreement to the contrary, the Board may, without a U.S. Participant’s consent, amend the Plan, the U.S. Sub-Plan or any
        Award Agreement, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment of a U.S. Restricted Share Unit,
        including any such action intended to: (A) exempt the Plan, the U.S. Sub-Plan or any U.S. Restricted Share Unit from Section 409A of the Code; or (B) comply with Section 409A of the Code, including regulations, guidance, compliance programs and
        other interpretative authority that may be issued after the grant date of a U.S. Restricted Share Unit. The Company makes no representation or warranty as to a U.S. Restricted Share Unit’s tax treatment under Section 409A of the Code or otherwise.
        The Company will have no obligation under this Section 5 or otherwise to avoid the taxes, penalties or interest under Section 409A of the Code with respect to any grant of a U.S. Restricted Share Unit and will have no liability to any U.S.
        Participant or any other person if any U.S. Restricted Share Unit, compensation or other benefits under the Plan or the U.S. Sub-Plan is determined to constitute noncompliant “nonqualified deferred compensation” subject to taxes, penalties or interest under Section 409A of the Code.

    

    
      
        

    

    
      (b)  Separation from Service. If a U.S. Restricted Share Unit constitutes “nonqualified deferred compensation” under Section 409A of the Code, any
        payment or settlement of such U.S. Restricted Share Unit upon a termination of a U.S. Participant’s employment with the Company or a Subsidiary will, to the extent necessary to avoid taxes under Section 409A of the Code, be made only upon the U.S.
        Participant’s “separation from service” (within the meaning of Section 409A of the Code), whether such “separation from service” occurs upon or after the termination of the U.S. Participant’s employment with the Company or any Subsidiary. For
        purposes of the Plan, the U.S. Sub-Plan or any Award Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment” or like terms means a “separation from service.”

       

      

    

    
      (c)  Payments to Specified U.S. Participants. Notwithstanding any contrary provision in the Plan, the U.S. Sub-Plan or any Award Agreement, any
        payment(s) of “nonqualified deferred compensation” required to be made under a U.S. Restricted Share Unit to a “specified employee” (as defined under Section 409A of the Code and as the Board may determine) due to his or her “separation from
        service” will, to the extent necessary to avoid taxes under Section 409A(a)(2)(B)(i) of the Code, be delayed for the six-month period immediately following such “separation from service” (or, if earlier, until the specified employee’s death) and
        will instead be paid (as set forth in the Award Agreement) on the day immediately following such six-month period or as soon as administratively practicable thereafter (without interest). Any payment of “nonqualified deferred compensation” under
        such U.S. Restricted Share Unit payable more than six months following the U.S. Participant’s “separation from service” will be paid at the time or times the payments are otherwise scheduled to be made.

    

    

    

    
      	
              5.

            	
              Tax Matters

            

    

    
      
        

        

        (a)   Tax

            Withholding Requirement. Prior to the delivery of any Ordinary Shares pursuant to the exercise of a U.S. Option or the vesting of a U.S. Restricted Share Unit, the
        Company will have the power and the right to deduct or withhold, or require a U.S. Participant to remit to the Company, an amount sufficient to satisfy the amount of U.S. federal, state, local, foreign or other taxes (including the U.S. Participant’s Federal Insurance Contributions Act obligations) required to be withheld with respect to such U.S. Equity Incentive. The Board may require the Company’s tax withholding obligation satisfied, in whole or in part, by the Company withholding from Ordinary Shares to be issued pursuant to a U.S. Equity Incentive a number of Ordinary Shares
        with an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the withholding amoun t due; provided, however, that the amount withheld does not exceed the maximum statutory tax rate or such lesser amount as is
        necessary to avoid adverse accounting treatment.

    

    

    

    
      (b)  No Obligation to Notify or Minimize Taxes. The Company will have no duty or obligation to the U.S. Participant to advise such holder as to the time or manner of exercising the U.S. Option. Furthermore, the Company will have no duty or obligation to warn
        or otherwise advise such holder of a pending termination or expiration of a U.S. Option or a possible period in which the U.S. Option may not be exercised. The Company has no duty or obligation to minimize the tax consequences of a U.S. Option to
        the U.S. Participant.

    

    

    

    
      	
              6.

            	
              Shareholder Approval of U.S. Sub-Plan.

            

    

     

    

    The provisions of the U.S. Sub-Plan that are related to ISOs shall be subject to approval by the shareholders of the Company within
      twelve (12) months of the Effective Date. Any ISOs granted under the U.S. Sub-Plan before shareholder approval is obtained must be rescinded if shareholder approval is not obtained within twelve (12) months of the Effective Date. If such shareholder
      approval is not obtained within such time frame, then only Nonstatutory Stock Options may be granted pursuant to the U.S. Sub-Plan.

    

    

    
      	
              7.

            	
              Term, Amendment and Termination of the U.S. Sub-Plan.

            

    

    
      
        

        

        (a)  The Board may amend, suspend or terminate the U.S. Sub-Plan at any time. Unless terminated sooner by the Board, the U.S. Sub-Plan will terminate automatically upon the earlier of (i) ten (10) years after
        the Effective Date and (ii) the termination of the Plan. No U.S. Equity Incentive may be granted under the U.S. Sub-Plan while either the Plan or the U.S. Sub-Plan is suspended or after the Plan or the U.S. Sub-Plan is terminated (but U.S. Options
        previously granted under the U.S. Sub-Plan may extend to the Final Option Date and U.S. Restricted Share Units shall remain outstanding pursuant to the terms of the Award Agreement ).

    

    

    

    (b)  If the U.S. Sub-Plan is terminated, the provisions of the U.S. Sub-Plan and any administrative guidelines, and other rules adopted by the Board and in force at the time of suspension or termination of the
      U.S. Sub-Plan, will continue to apply to any outstanding U.S. Equity Incentive as long as a U.S. Equity Incentive granted pursuant to the U.S. Sub-Plan remains outstanding.

    

    

    
      (c)  The Board shall obtain approval of the Company’s shareholders for any amendment to the Plan that would require such approval in order to
        satisfy the Code or other applicable law.

    

    

    

    
      	
              8.

            	
              Amendment of U.S. Equity Incentives.

            

    

     

    

    The Board may amend, modify or terminate any outstanding U.S. Option or U.S. Restricted Share Unit granted to a U.S. Participant,
      including but not limited to, substituting therefor another U.S. Option of the same or different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option provided however no changes
      shall be made to any U.S. Restricted Share Unit that would violate Section 409A of the Code.

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