Document:

Exhibit 4.1

 

 

TapImmune Inc.

2014
Omnibus Stock Ownership Plan, as amended through August 29, 2017

 

 

  

THE
PLAN

 

TapImmune Inc., a Nevada corporation (the
“Company”), established the Corporation’s 2014 Omnibus Stock Ownership Plan. The Plan was adopted by the Company’s
Board of Directors on March 19, 2014 and became effective as of that date, and it permits the grant of stock options, stock bonuses,
dividend equivalents, restricted stock units and other stock-based awards. The Plan replaces the Company’s 2009 Stock Incentive
Plan, and applies to all Awards (as hereinafter defined) granted on or after March 19, 2014, subject to variations as required
to comply with local laws and regulations applicable outside the United States.

 

		1.	Purpose

 

The purpose of this Plan is to advance
the interest of the Company by encouraging and enabling the acquisition of a larger personal financial interest in the Company
by those Employees and non-Employee directors upon whose judgment and efforts the Company is largely dependent for the successful
conduct of its operations. It is anticipated that the acquisition of such financial interest and Stock ownership will stimulate
the efforts of such Employees and directors on behalf of the Company, strengthen their desire to continue in the service of the
Company, and encourage shareholder and entrepreneurial perspectives through Stock ownership. It is also anticipated that the opportunity
to obtain such financial interest and Stock ownership will prove attractive to promising new Employees and will assist the Company
in attracting such Employees.

 

		2.	Definitions

 

As used in this Plan, the terms set forth
below shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms
defined):

 

(a)       “Award”
means any stock options, restricted stock units, stock bonuses, dividend equivalents and other stock-based awards granted under
this Plan. In addition, for purposes of Section 3(d) only, “Award” means any award granted under any Prior Plan.

 

(b)       “Award
Agreement” has the meaning specified in Section (c)(iv).

 

(c)       “Board”
means the Board of Directors of the Company.

 

(d)       “Business
Combination” has the meaning specified in Section 2(g)(iii).

 

(e)       “Business
Day” means any day on which the principal securities exchange on which the shares of the Company's common stock are then
listed or admitted to trading is open.

 

(f)       “Cause”
means the Grantee's commission of any act or acts involving dishonesty, fraud, illegality or moral turpitude.

 

    1 

     

    

 

(g)       “Change
in Control” means the happening of any of the following events:

 

(i)       the
acquisition by any Person of “beneficial ownership” (within the meaning of Rule 13d-3 promulgated under the 1934 Act)
of 20% or more of either (A) the then-outstanding shares of Stock (“Outstanding Company Common Stock”) or (B) the combined
voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the
“Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 2(g)(i), the following
acquisitions shall not constitute a Change in Control: (1) any acquisition directly from the Company, (2) any acquisition by the
Company, (3) any acquisition by any Employee benefit plan (or related trust) sponsored or maintained by the Company or any entity
controlled by the Company or (4) any acquisition by any entity pursuant to a transaction that complies with Sections 2(g)(iii)(A),
(B) and (C); or

 

(ii)       individuals
who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least
a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election,
or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of the directors then comprising
the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest
with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board; or

 

(iii)       consummation
of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company and/or
any entity controlled by the Company, or a sale or other disposition of all or substantially all of the assets of the Company,
or the acquisition of assets or stock of another entity by the Company or any entity controlled by the Company (each, a “Business
Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals
and entities that were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of the then-outstanding
shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the
election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation,
an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company's assets either directly
or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business
Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (B) no Person
(excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or
such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 40% or more of, respectively,
the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting
power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to
the Business Combination, and (C) at least a majority of the members of the board of directors of the entity resulting from such
Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action
of the Board, providing for such Business Combination; or

 

    2 

     

    

 

(iv)       approval
by the shareholders of the Company of a complete liquidation or dissolution of

the Company.

 

(h)       “Code”
means the U.S. Internal Revenue Code of 1986, as amended, and regulations and rulings thereunder. References to a particular section
of, or rule under, the Code shall include references to successor provisions.

 

(i)       “Committee”
has the meaning specified in Section 4(a).

 

(j)       “Company”
has the meaning specified in the first paragraph.

 

(k)       “Consultant”
means and individual who has been engaged by the Company or a Subsidiary to render consulting or advisory services on a regular
and ongoing basis.

 

(l)       “Disability”
as it regards Employees, shall mean a mental or physical condition which, with or without reasonable accommodations, renders an
Employee permanently unable or incompetent to carry out the job responsibilities he held or tasks to which he was assigned at the
time the condition was incurred, with such determination to be made by the Committee on the basis of such medical and other competent
evidence as the Committee in its sole discretion shall deem relevant.

 

“Disability”
as it regards non-Employee directors and senior directors means a physical or mental condition that prevents the director from
performing his or her duties as a member of the Board or a senior director, as applicable, and that is expected to be permanent
or for an indefinite duration exceeding one year.

 

(m)       “Dividend
equivalent” means an Award made pursuant to Section 6(d).

 

(n)       “Employee”
means any individual designated as an employee of the Company, its Affiliate, and/or its Subsidiaries who is on the current payroll
records thereof; an Employee shall not include any individual during any period he or she is classified or treated by the Company,
Affiliate, and/or Subsidiary as an independent contractor, a consultant, or any employee of an employment, consulting, or temporary
agency or any other entity other than the Company, Affiliate, and/or Subsidiary, without regard to whether such individual is subsequently
determined to have been, or is subsequently retroactively reclassified as a common-law employee of the Company, Affiliate, and/or
Subsidiary during such period. “Employment” shall have the correlative meaning. The Committee in its discretion
may, in the applicable Award Agreement, adopt a different definition of “Employee” and “Employment” for
Awards granted to Grantees working outside the United States.

 

(o)       “Effective
Date” means March 19, 2014.

 

(p)       “Fair
Market Value” of any security of the Company means, as of any applicable date, the closing price of the security at the
close of normal trading hours on the Nasdaq Stock Market, or, if no such sale of the security shall have occurred on such
date, on the next preceding date on which there was such a sale.

 

(q)       “Foreign
Equity Incentive Plan” has the meaning specified in Section 14.

 

(r)       “Grant
Date” has the meaning specified in Section 6(a)(i).

 

    3 

     

    

 

(s)       “Grantee”
means an individual who has been granted an Award.

 

(t)       “including”
or “includes” means “including, without limitation,” or “includes, without limitation.”

 

(u)       “Incumbent
Board” has the meaning specified in Section 2(g)(ii).

 

(v)       “Minimum
Consideration” means $.01 per share or such larger amount determined pursuant to resolution of the Board to be “capital”.

 

(w)       “Minimum
Vesting Requirement” means that Awards subject to the Minimum Vesting Requirement shall not become nonforfeitable prior
to the six month anniversary of the Grant Date, or such other vesting date as the Committee may, in its discretion, expressly designate
for an Award, subject to Sections 12, 13 and 21.

 

(x)       “1934
Act” means the Securities Exchange Act of 1934, as amended, and regulations and rulings thereunder. References to a particular
section of, or rule under, the 1934 Act shall include references to successor provisions.

 

(y)       “non-Employee
director” means a member of the Board who is not an Employee of the Company.

 

(z)       “Option
Price” means the per-share purchase price of Stock subject to a stock option.

 

(aa)“other
stock-based award” means an Award made pursuant to Section 6(f).

 

(bb)“Outstanding
Company Common Stock” has the meaning specified in Section 2(g)(i).

 

(cc)“Outstanding
Company Voting Securities” has the meaning specified in Section 2(g)(i).

 

(dd)“Person”
means any “individual,” “entity” or “group,” within the meaning of Section
13(d)(3) or 14(d)(2) of the 1934 Act.

 

(ee)“Prior
Plan” means the Company’s 2009 Stock Incentive Plan.

 

(ff)“Qualified
Performance-Based Award” means any Award that is intended to qualify for the Section 162(m) Exemption, as provided in
Section 23.

 

(gg)“Qualified
Performance Goal” means a performance goal established by the Committee in connection with more Specified Performance
Goals, and (ii) is set by the Committee within the time period prescribed by Section 162(m) of the Code; provided, that in the
case of a stock option or stock appreciation right, the Qualified Performance Goal shall be considered to have been established
without special action by the Committee, by virtue of the fact that the Stock subject to such Award must increase in value over
its Fair Market Value on the Grant Date (or over a higher value) in order for the Grantee to realize any compensation from exercising
the stock option or stock appreciation right.

 

    4 

     

    

 

(hh)“Restricted
Stock Unit” or “RSU” means an Award made pursuant to Section 6(e).

 

(ii)       “Section
16 Grantee” means an individual subject to potential liability under Section 16(b) of the 1934 Act with respect to transactions
involving equity securities of the Company.

 

(jj)“Section
162(m) Exemption” means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that
is set forth in Section 162(m)(4)(C) of the Code.

 

(kk)“Service-Vesting
Award” means an Award, the vesting of which is contingent solely on the continued service of the Grantee as an Employee
of the Company and its Subsidiaries or as a non-Employee director of the Company.

 

(ll)“Specified
Performance Goal” means any of the following measures as applied to the Company as a whole or to any Subsidiary, division
or other unit of the Company: revenue; operating income; net income; basic or diluted earnings per share; return on revenue; return
on assets; return on equity; return on total capital; total shareholder return; or any other measure of financial performance that
can be determined pursuant to U.S. generally accepted accounting principles.

 

(mm)“Stock”
means the common stock of the Company, par value $.001 per share.

 

(nn)“Subsidiary”
means any entity in which the Company directly or through intervening subsidiaries owns 50% or more of the total combined voting
power or value of all classes of stock, or, in the case of an unincorporated entity, a 50% or more interest in the capital and
profits.

 

(oo)       “Termination
of Directorship” means the first date upon which a non-Employee director is not a member of the Board.

 

(pp) “Termination
of Employment” of a Grantee means the termination of the Grantee's Employment with the Company and the Subsidiaries,
as determined by the Company, or in the case of a Grantee providing services as a Consultant, the date on which the Consultant
has completely and permanently cease to provide such consulting services to the Company, as determined by the Company.

 

		3.	Scope of this Plan

 

(a)       As
of March 18, 2014, no shares were available for future grant under Prior Plans. As of the date this Plan became effective, 2 million
shares, and any shares which may be returned to the Prior Plans as described in (d) below, became available for future grants under
this Plan. An additional 5 million shares were reserved for future grants under this Plan, bringing the total number of shares
of Stock which may be delivered to Grantees pursuant to this Plan up to a total of seven million shares, the total shares after
adjustments pursuant to the Company’s reverse stock split of 583,334 plus any shares which may be returned to the Prior Plans
as described in (d) below, subject to the other provisions of this Section 3 and to adjustment as provided in Section 22. Such
shares may be treasury shares or newly-issued shares or both, as may be determined from time to time by the Board or by the Committee
appointed pursuant to Section 4.

 

    5 

     

    

 

 (b)       Subject to adjustment as provided in Section 22, the maximum number of shares of Stock for which stock options and stock appreciation rights may be granted to any Grantee in any one-year period shall be at the discretion of the Board of Directors, and the maximum number of shares of Stock that may be granted to any Grantee in any one-year period in the form of restricted stock, and other stock-based awards, shall be at the discretion of the Board of Directors, provided that for any awards that are intended to be Qualified Performance-based Awards, the maximum number of shares of Stock which may be covered by the stock options and stock appreciation rights granted to a Grantee during any one-year period shall be limited to 200,000 shares. Subject to the other provisions of this Section 3 and subject to adjustment as provided in Section 22, not more than 15% of the total outstanding shares of the Company may be granted as Bonus Shares under this Plan.

 

(c)       If
and to the extent an Award granted under this Plan shall, after the Effective Date, expire or terminate for any reason without
having been exercised in full, or shall be forfeited or settled for cash, the shares of Stock (including restricted stock) associated
with the expired, terminated or forfeited portion of such Award shall become available for other Awards. In no event shall the
number of shares of Stock considered to be delivered pursuant to the exercise of a stock appreciation right include the shares
that represent the grant or exercise price thereof, which shares are not delivered to the Grantee upon exercise.

 

(d)       If
and to the extent an Award granted under a Prior Plan shall, after the Effective Date, expire or terminate for any reason without
having been exercised in full, or shall be forfeited or settled for cash, the shares of Stock (including restricted stock) associated
with the expired, terminated or forfeited portion of such Award shall become available for Awards under this Plan. If, after the
Effective Date, a Grantee uses shares of Stock owned by the Grantee (by either actual delivery or by attestation) to pay the Option
Price of any stock option granted under this Plan or a Prior Plan or to satisfy any tax-withholding obligation with respect to
an Award granted under this Plan or a Prior Plan, the number of shares of Stock delivered or attested to shall be added to the
number of shares of Stock available for delivery under this Plan. To the extent any shares of Stock subject to a stock option granted
under this Plan are withheld, after the Effective Date, to satisfy the Option Price of that stock option, or any shares of Stock
subject to an Award granted under this Plan are withheld to satisfy any tax-withholding obligation, such shares shall not be deemed
to have been delivered for purposes of determining the maximum number of shares of Stock available for delivery under this Plan.
To the extent any shares of Stock subject to an Award granted under a Prior Plan are withheld, after the Effective Date, to satisfy
any tax-withholding obligation, such shares shall be added to the maximum number of shares of Stock available for delivery under
this Plan. Notwithstanding the foregoing, no shares of Stock that become available for Awards granted under this Plan pursuant
to the foregoing provisions of this Section 3(d) shall be available for grants of incentive stock options pursuant to Section 6(f).

 

		4.	Administration

 

(a)       Subject
to Section 4(b), this Plan shall be administered by a committee appointed by the Board (the “Committee”). All members
of the Committee shall be “outside directors” (as defined or interpreted for purposes of the Section 162(m) Exemption).
The composition of the Committee also shall be subject to such limitations as the Board deems appropriate to permit transactions
in Stock pursuant to this Plan to be exempt from liability under Rule 16b-3 under the 1934 Act and to satisfy the “independence”
requirements of any national securities exchange on which the Stock is listed.

 

 

    6 

     

    

 

(b)       The
Board may, in its discretion, reserve to itself any or all of the authority and responsibility of the Committee. To the extent
that the Board has reserved to itself the authority and responsibility of the Committee or that the Board has not appointed a Committee,
all references to the Committee in this Plan shall be deemed to refer to the Board.

 

(c)       The
Committee shall have full and final authority, in its discretion, but subject to the express provisions of this Plan (including
without limitation Section 23(e)), as follows:

 

 (i) to grant Awards,

 

(ii) to determine (A) when Awards may
be granted, and (B) whether or not specific Awards shall be identified with other specific Awards, and, if so, whether they shall
be exercisable cumulatively with or alternatively to such other specific Awards,

 

 (iii) to interpret this Plan,

 

(iv) to determine all terms and provisions
of all Awards, including without limitation any restrictions or conditions (including specifying such performance criteria as
the Committee deems appropriate, and imposing restrictions with respect to Stock acquired upon exercise of a stock option, which
restrictions may continue beyond the Grantee's Termination of Employment or Termination of Directorship, as applicable), which
shall be set forth in a written (including in an electronic form) agreement for each Award (the “Award Agreements”),
which need not be identical, and, with the consent of the Grantee, to modify any such Award Agreement at any time,

 

(v) to adopt or to authorize foreign
Subsidiaries to adopt Foreign Equity Incentive Plans as provided in Section 14,

 

(vi) to delegate any or all of its duties
and responsibilities under this Plan to any individual or group of individuals it deems appropriate, except its duties and responsibilities
with respect to Section 16 Grantees and with respect to Qualified Performance-Based Awards, and (A) the acts of such delegates
shall be treated hereunder as acts of the Committee and (B) such delegates shall report to the Committee regarding the delegated
duties and responsibilities,

 

(vii) to accelerate the exercisability
of, and to accelerate or waive any or all of the restrictions and conditions applicable to, any Award or any group of Awards,
other than the Minimum Vesting Requirement, for any reason, solely to the extent that any such acceleration or waiver would not
cause any tax to become due under Section 409A of the Code,

 

(viii) subject to Section 6(a)(ii), to
extend the time during which any Award or group of Awards may be exercised or earned, solely to the extent that any such extension
would not cause any tax to become due under Section 409A of the Code,

 

(ix) to make such adjustments or modifications
to Awards granted to or held by Grantees working outside the United States as are necessary and advisable to fulfill the purposes
of this Plan or to accommodate the specific requirements of local laws, procedures or practices,

 

    7 

     

    

 

(x) to impose such additional conditions,
restrictions and limitations upon the grant, exercise or retention of Awards as the Committee may, before or concurrently with
the grant thereof, deem appropriate, including requiring simultaneous exercise of related identified Awards and limiting the percentage
of Awards that may from time to time be exercised by a Grantee,

 

(xi) notwithstanding Section 8, to prescribe
rules and regulations concerning the transferability of any Awards, and

 

(xii) to make all other decisions and
determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer the Plan.

 

(d)       The
determination of the Committee on all matters relating to this Plan or any Award Agreement shall be made in its sole discretion,
and shall be conclusive and final. No member of the Committee shall be liable for any action or determination made in good faith
with respect to this Plan or any Award.

 

		5.	Eligibility

 

Awards may be granted to any Employee (including
any officer) of the Company or any of its domestic Subsidiaries, any Employee, officer or director of any of the Company's foreign
Subsidiaries, to any non-Employee director of the Company, or to any Consultant of the Company designated by the Committee. In
selecting the individuals to whom Awards may be granted, as well as in determining the number of shares of Stock subject to, and
the other terms and conditions applicable to, each Award, the Committee shall take into consideration such factors as it deems
relevant in promoting the purposes of this Plan.

 

		6.	Conditions to Grants

 

		(a)	General conditions.

 

(i) The “Grant Date” of an
Award shall be the date on which the Committee grants the Award or such later date as specified in advance by the Committee.

 

 (ii) The term of each Award shall be a period not longer than 10 years from the Grant Date.

 

 (iii) A Grantee may, if otherwise eligible, be granted additional Awards in any combination.

 

(b)        Grant of Stock Options and
Option Price. A stock option represents the right to purchase as hare of Stock at a predetermined Option Price. No later
than the Grant Date of any stock option, the Committee shall establish the Option Price of such stock option. The per-share
Option Price of a stock option shall not be less than 100% of the Fair Market Value of a share of the Stock on the Grant
Date. Such Option Price shall be subject to adjustment as provided in Section 22. The applicable Award Agreement may provide
that the stock option shall be exercisable for restricted stock. The Committee shall not without the approval of the
Company's shareholders, other than pursuant to Section 22, (i) reduce the per-share Option Price of a stock option after it
is granted, (ii) cancel a stock option when the per-share Option Price exceeds the Fair Market Value of a share of the Stock
in exchange for cash or another Award (other than in connection with a Change in Control), or (iii) take any other action
with respect to a stock option that would be treated as a repricing under the rules and regulations of the Nasdaq Stock
Market.

 

    8 

     

    

 

(c)        Grant of Stock Bonuses.
The Committee may, in its discretion, grant shares of Stock to any Employee or Consultant eligible under Section 5 to receive
Awards, other than executive officers of the Company.

 

(d)        Grant of Dividend
Equivalents. The Committee may, in its discretion, grant dividend equivalents, which represent the right to receive cash
payments or shares of Stock measured by the dividends payable with respect to specific shares of Stock or a specified number
of shares of Stock. Dividend equivalents may be granted as part of another type of Award, and shall be subject to such terms
and conditions as the Committee shall determine; provided, that the Committee shall not provide for payment of dividend
equivalents in a manner that would cause any tax to become due under Section 409A of the Code.

 

(e)        Grant of Restricted Stock
Units (“RSUs”). The Committee may, in its discretion, grant RSUs, which Awards are denominated in, payable
in, and valued, in whole or in part, by reference to, shares of Stock. An RSU shall represent the right to receive a payment,
in cash, shares of Stock or both (as determined by the Committee), and shall be subject to such terms and conditions as the
Committee shall determine.

 

(f)        Grant of Other Stock-Based Awards.
The Committee may, in its discretion, grant other stock-based awards. These are Awards, other than stock options (not including
incentive stock options), stock bonuses, dividend equivalents and restricted stock units that are denominated in, valued, in whole
or in part, by reference to, or otherwise based on or related to, Stock. The purchase, exercise, exchange or conversion of other
stock-based awards granted under this Section 6(f) shall be on such terms and conditions and by such methods as shall be specified
by the Committee. If the value of any other stock-based award is based on the difference between the excess of the Fair Market
Value, on the date such Fair Market Value is determined, over such Award's exercise or grant price, the exercise or grant price
for such an Award will not be less than 100% of the Fair Market Value on the Grant Date. If the value of such an Award is based
on the full value of a share of Stock, and the Award is a Service-Vesting Award, then unless the Committee in its discretion,
expressly determines otherwise the Award shall be subject to the Minimum Vesting Requirement. The Committee shall not without
the approval of the Company's shareholders, other than pursuant to Section 22, (i) lower the exercise price of a stock appreciation
right after it is granted, (ii) cancel a stock appreciation right when the exercise price exceeds the Fair Market Value of a share
of the Stock in exchange for cash or another Award (other than in connection with a Change in Control), or (iii) take any other
action with respect to a stock appreciation right that would be treated as a repricing under the rules and regulations of the
rules of any national market or quotation system on which the Company’s shares of common stock are listed or quoted.

 

		7.	Grantee's Agreement to Serve

 

The Committee may, in its discretion, require
each Grantee who is granted an Award to, execute such Grantee's Award Agreement, and to agree that such Grantee will remain in
the employ of the Company or any of its Subsidiaries, remain as a non-Employee director, or remain as a Consultant, as applicable,
for at least one year after the Grant Date. No obligation of the Company or any of its Subsidiaries as to the length of any Grantee's
employment or service as a non-Employee director or Consultant shall be implied by the terms of this Plan, any grant of an Award
hereunder or any Award Agreement. The Company and its Subsidiaries reserve the same rights to terminate employment of any Grantee
or services of any Consultant as existed before the Effective Date.

 

    9 

     

    

 

		8.	Non-Transferability

 

No Award granted hereunder shall be assigned,
encumbered, pledged, sold, transferred, or otherwise disposed of other than by will or the laws of descent and distribution; provided
however, that unless otherwise determined by the Committee, a Grantee may designate in writing a beneficiary to exercise or hold,
as applicable, his or her Award after such Grantee's death. In the case of a holder after the Grantee's death, an Award shall be
transferable solely by will or by the laws of descent and distribution.

 

		9.	Exercise

 

(a)       Exercise of Stock Options.
Subject to Sections 4(c)(vii), 12, 13 and 21 and such terms and conditions as the Committee may impose, each stock option shall
be exercisable as and when determined by the Committee; provided that, unless the Committee determines otherwise, each stock option
shall be exercisable in one or more installments commencing not earlier than the first anniversary of the Grant Date of such stock
option.

 

Each stock option
shall be exercised by delivery of notice of intent to purchase a specific number of shares of Stock subject to such stock option.
Such notice shall be in a manner specified by and satisfactory to the Company. The Option Price of any shares of Stock as to which
a stock option shall be exercised shall be paid in full at the time of the exercise. Payment may, at the election of the Grantee,
be made in any one or any combination of the following:

 

		(i)	cash,

 

(ii)       unless otherwise determined by the
Committee, Stock owned by the Grantee, valued at its Fair Market Value at the time of exercise,

 

(iii)       with the approval of the
Committee, shares of restricted stock held by the Grantee, each valued at the Fair Market Value of a share of Stock at the
time of exercise, or

 

(iv)      unless otherwise determined by
the Committee, through simultaneous sale through a broker of shares acquired on exercise, as permitted under Regulation T of
the Board of Governors of the Federal Reserve System.

 

If shares of Stock
are used to pay the Option Price, such shares of Stock must have been held by the Grantee for more than six months prior to exercise
of the stock option, unless otherwise determined by the Committee. Such payment may be made by actual delivery or attestation.

 

(b)       Time of
Exercise/Expiration. Notwithstanding anything to the contrary herein, in the event that the final date on which any stock
option would otherwise be exercisable in accordance with the provisions of this Plan (including without limitation Section 12
hereof) is not a Business Day, the last day on which such stock option may be exercised is the last Business Day immediately
preceding such date.

 

    10 

     

    

 

		10.	Notification under Section 83(b)

 

The Committee may, on the Grant Date or
any later date, prohibit a Grantee from making the election described below. If the Committee has not prohibited such Grantee from
making such election, and the Grantee shall, in connection with the exercise of any stock option, or the grant of any share of
restricted stock, make the election permitted under Section 83(b) of the Code (i.e., an election to include in such Grantee's gross
income in the year of transfer the amounts specified in Section 83(b) of the Code), such Grantee shall notify the Company of such
election within 10 days of filing notice of the election with the U.S. Internal Revenue Service, in addition to complying with
any filing and notification required pursuant to regulations issued under the authority of Section 83(b) of the Code.

 

		11.	Withholding Taxes

 

(a)      Whenever, under this
Plan, cash or Stock is to be delivered upon exercise or payment of an Award, or any other event occurs that results in
taxation of a Grantee with respect to an Award, the Company shall be entitled to require (i) that the Grantee remit an amount
sufficient to satisfy all U.S. federal, state and local withholding tax requirements related thereto, (ii) the withholding of
such sums from compensation otherwise due to the Grantee or from any shares of Stock due to the Grantee under this Plan,
(iii) any other method prescribed by the Committee from time to time or (iv) any combination of the foregoing.

 

(b)      If any disqualifying
disposition (as defined in Section 421(b) of the Code) is made with respect to shares of Stock acquired under an incentive
stock option granted pursuant to this Plan or any election described in Section 10 is made, then the individual making such
disqualifying disposition or election shall remit to the Company an amount sufficient to satisfy all U.S. federal, state and
local withholding taxes thereby incurred; provided, that in lieu of or in addition to the foregoing, the Company shall have
the right to withhold such sums from compensation otherwise due to the Grantee or from any shares of Stock due to the Grantee
under this Plan.

 

(c)       Notwithstanding
the foregoing, in no event shall the amount withheld or remitted in the form of shares of Stock due to a Grantee under this Plan
exceed the minimum required by applicable law, except in the case of amounts due to a Grantee working outside the United States
or amounts withheld after January 1, 2017, where the amount withheld may exceed such minimum, provided that it is not in
excess of the maximum actual amount required to be withheld with respect to the Grantee under applicable tax law or regulations.

 

(d)      Although the Company may
endeavor to qualify an Award for favorable tax treatment under the laws of the United States or jurisdictions outside of the
United States or to avoid adverse tax treatment, the Company makes no representation to that effect and expressly disavows
any covenant to maintain favorable or avoid unfavorable tax treatment, notwithstanding anything contrary in this Plan and the
Company will have no liability to a Grantee or any other party if a payment under an Award does not receive or maintain such
favorable treatment or does not avoid such unfavorable treatment. The Company shall be unconstrained in its corporate
activities without regard to the potential tax impact on Grantees.

 

    11 

     

    

 

		12.	Termination of Employment

 

(a)       The applicable Award
Agreement shall specify the treatment of such Award upon the Grantee's Termination of Employment. Unless otherwise provided
in the applicable Award Agreement, all unvested Awards shall forfeit upon the Grantee's Termination of Employment, and vested
stock options shall remain exercisable until the 90th day following Termination of Employment.

 

(b)       Committee Discretion.
Notwithstanding the foregoing, the Committee may determine that the consequences of a Termination of Employment for a
particular Award will differ from those in the applicable Grant Agreement after it is granted if the change is favorable to
the Grantee, unless otherwise required to comply with applicable laws; provided, that the Committee shall have no authority
(i) after the Grant Date, to extend the time to exercise unexercised stock options or stock appreciation rights to any date
later than the 10th anniversary of the Grant Date (or, if earlier, the original expiration date of the Award) or (ii)
otherwise to provide for terms of an Award that would cause any tax to become due under Section 409A of the Code.

 

		13.	Termination of Directorship

 

(a)      The applicable Award
Agreement shall specify the treatment of such Award upon the Director's Termination of Directorship with the Company. Unless
otherwise provided in the applicable Award Agreement, all unvested Awards shall forfeit upon the Director's Termination of
Directorship.

 

(b)       Committee Discretion.
Notwithstanding the foregoing, the Committee may determine that the consequences of Termination of Directorship for a
particular Award will differ from those in the Applicable Award Agreement after the Award is granted, if the change is
favorable to the Grantee; provided, that the Committee shall have no authority (i) after the Grant Date, to extend the time
to exercise unexercised stock options or stock appreciation rights to any date later than the 10th anniversary of the Grant
Date (or, if earlier, the original expiration date of the Award) or (ii) otherwise to provide for terms of an Award that
would cause any tax to become due under Section 409A of the Code.

 

		14.	Equity Incentive Plans of Foreign Subsidiaries

 

The Committee may adopt or authorize any
foreign Subsidiary to adopt a plan for granting Awards (a “Foreign Equity Incentive Plan”). All awards granted under
such Foreign Equity Incentive Plans shall be treated as grants under this Plan. Such Foreign Equity Incentive Plans shall have
such terms and provisions as the Committee permits not inconsistent with the provisions of this Plan.

 

		15.	Securities Law Matters

 

(a)      If the Committee deems
it necessary to comply with the Securities Act of 1933, as amended, and the regulations and rulings thereunder, the Committee
may require a written investment intent representation by the Grantee and may require that a restrictive legend be affixed to
certificates for shares of Stock.

 

 

    12 

     

    

 

(b)      If, based upon the
opinion of counsel for the Company, the Committee determines that the exercise or nonforfeitability of, or delivery of
benefits pursuant to, any Award would violate any applicable provision of (i) U.S. federal, state, foreign or local
securities law or (ii) the listing requirements of any national securities exchange on which are listed any of the Company's
equity securities (together, referred to herein as “Securities Law Requirements”), then the Committee may (A)
postpone any such exercise, nonforfeitability or delivery, as the case may be, for not more than 30 days after the date on
which such exercise, nonforfeitability or delivery would no longer violate such law or requirements, or (B) amend or cancel
some or all of the Awards affected by such Securities Law Requirements, with or without consideration to the relevant
Grantees.

 

		16.	Funding

 

Benefits payable under this Plan to any
person shall be paid directly by the Company. The Company shall not be required to fund, or otherwise segregate assets to be used
for payment of, benefits under this Plan.

 

		17.	No Employment Rights

 

Neither the establishment of this Plan,
nor the granting of any Award, shall be construed to (a) give any Grantee the right to remain employed by the Company or any of
its Subsidiaries or to any benefits not specifically provided by this Plan or (b) in any manner modify the right of the Company
or any of its Subsidiaries to modify, amend, or terminate any of its employee benefit plans.

 

		18.	Rights as a Stockholder

 

A Grantee shall not, by reason of any Award
(other than restricted stock), have any right as a stockholder of the Company with respect to the shares of Stock that may be deliverable
upon exercise or payment of such Award until such shares have been delivered to him or her.

 

		19.	Nature of Payments

 

Any and all grants, payments of cash, or
deliveries of shares of Stock hereunder shall constitute special incentive payments to the Grantee, and shall not be taken into
account in computing the amount of salary or compensation of the Grantee for the purposes of determining any pension, retirement,
death or other benefits under (a) any pension, retirement, profit-sharing, bonus, life insurance or other employee benefit plan
of the Company or any of its Subsidiaries or (b) any agreement between the Company or any Subsidiary, on the one hand, and the
Grantee, on the other hand, except as such plan or agreement shall otherwise expressly provide.

 

    13 

     

    

 

		20.	Non-Uniform Determinations

 

Neither the Committee's nor the Board's
determinations under this Plan need be uniform, and may be made by the Committee or the Board selectively among individuals who
receive, or are eligible to receive, Awards (whether or not such individuals are similarly situated). Without limiting the generality
of the foregoing, the Committee shall be entitled, among other things, to make non-uniform and selective determinations, to enter
into non-uniform and selective Award Agreements as to (a) the +

 

 

identity of the Grantees, (b) the terms
and provisions of Awards, and (c) the treatment, under Section 12, of Terminations of Employment.

 

		21.	Change in Control Provisions

 

Notwithstanding any other provision of
this Plan to the contrary, the provisions of this Section 21 shall apply in the event of a Change in Control, unless otherwise
determined by the Committee in connection with the grant of an Award (as reflected in the applicable Award Agreement).

 

(a)      Upon a Change in
Control, each then-outstanding stock option and stock appreciation right, and each other then-outstanding Award that is a
Service-Vesting Award (each, a “Replaced Award”), shall be replaced with another Award meeting the requirements
of Section 21(b) (a “Replacement Award”); provided that (i) if a Replacement Award meeting the requirements of
Section 21(b) cannot be issued (because, for example, there are no publicly traded equity securities available, such that the
requirement described in clause (iii) of the first sentence of Section 21(b) cannot be met), or (ii) the Committee so
determines at any time prior to the Change in Control, upon a Change in Control each Replaced Award shall instead become
fully vested, exercisable and free of restrictions. The treatment of any Awards which are not Replaced Awards (i.e., Awards
other than stock options and stock appreciation rights, which are not Service-Vesting Awards) shall be as determined by the
Committee in connection with the grant thereof, as reflected in the applicable Award Agreement.

 

(b)      An Award shall meet the
conditions of this Section 21(b) (and hence qualify as a Replacement Award) if: (i) it is of the same type as the Replaced
Award; (ii) it has a value at least equal to the value of the Replaced Award; (iii) it relates to publicly traded equity
securities of the Company or its successor in the Change in Control or another entity that is affiliated with the Company or
its successor following the Change in Control; (iv) its terms and conditions comply with Section 21(c) below; and (v) its
other terms and conditions are not less favorable to the Grantee than the terms and conditions of the Replaced Award
(including the provisions that would apply in the event of a subsequent Change in Control). Without limiting the generality
of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the
preceding sentence are satisfied. The determination of whether the conditions of this Section 21(b) are satisfied shall be
made by the Committee, as constituted immediately before the Change in Control, in its sole discretion. Without limiting the
generality of the foregoing, the Committee may determine the value of Awards and Replacement Awards that are stock options by
reference to either their intrinsic value or their fair value.

 

(c)      Upon a Termination of
Employment or Termination of Directorship of a Grantee occurring in connection with or during the period of two years after
such Change in Control, other than for Cause, (i) all Replacement Awards held by the Grantee shall become fully vested and
(if applicable) exercisable and free of restrictions, and (ii) all stock options and stock appreciation rights held by the
Grantee immediately before the Termination of Employment or Termination of Directorship that the Grantee held as of the date
of the Change in Control or that constitute Replacement Awards shall remain exercisable for not less than two years following
such termination or until the expiration of the stated term of such stock option, whichever period is shorter (provided, that
if the applicable Award Agreement provides for a longer period of exercisability, that provision shall control). The
treatment described in the preceding sentence shall not apply if the Termination of Employment is initiated by the
Employee.

 

    14 

     

    

 

		22.	Adjustments Upon Certain Changes

 

The following shall be subject to any action
by the shareholders of the Company required by law, applicable tax rules or the rules of any exchange on which shares of Stock
of the Company are listed for trading:

 

(a)     Shares Available for
Grants. In the event of any change in the number of shares of Stock of the Company outstanding by reason of any stock
dividend or split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change,
the maximum aggregate number of shares of Stock with respect to which the Committee may grant Awards and the maximum
aggregate number of shares of Stock with respect to which the Committee may grant Awards to any individual Grantee in any
year shall be appropriately adjusted by the Committee. In the event of any change in the number of shares of Stock of the
Company outstanding by reason of any other event or transaction, the Committee may, to the extent deemed appropriate by the
Committee, make such adjustments in the number and class of shares of Stock with respect to which Awards may be granted.

 

(b)       Increase or Decrease in
Issued Shares Without Consideration. In the event of any increase or decrease in the number of issued shares of Stock of
the Company resulting from a subdivision or consolidation of shares of Stock of the Company or the payment of a stock
dividend (but only on the shares of Stock of the Company), or any other increase or decrease in the number of such shares
effected without receipt or payment of consideration by the Company, the Committee may, to the extent deemed appropriate by
the Committee, adjust the number of shares of Stock subject to each outstanding Award and the exercise price per share of
Stock of each such Award.

 

(c)       Certain Mergers. In the event
of any merger, consolidation or similar transaction as a result of which the holders of shares of Stock receive consideration
consisting exclusively of securities of the surviving corporation in such transaction, the Committee may, to the extent deemed
appropriate by the Committee, adjust each Award outstanding on the date of such merger or consolidation so that it pertains and
applies to the securities which a holder of the number of shares of Stock subject to such Award would have received in such merger
or consolidation.

 

(d)       Certain Other Transactions. In
the event of (i) a dissolution or liquidation of the Company, (ii) a sale of all or substantially all of the Company's assets
(on a consolidated basis), or (iii) a merger, consolidation or similar transaction involving the Company in which the holders
of shares of Stock receive securities and/or other property, including cash, other than shares of the surviving corporation in
such transaction, the Committee shall, in its sole discretion, have the power to:

 

    15 

     

    

 

(i)       cancel, effective immediately prior
to the occurrence of such event, each Award (whether or not then exercisable or vested), and, in full consideration of such cancellation,
pay to the Grantee to whom such Award was granted an amount in cash, for each share of Stock subject to such Award, equal to the
value, as determined by the Committee, of such Award, provided that with respect to any outstanding stock option such value shall
be equal to the excess of (A) the value, as determined by the Committee, of the property (including cash) received by the holder
of a share of Stock as a result of such event over (B) the exercise price of such stock option; or

 

(ii)       provide for the exchange of each
Award (whether or not then exercisable or vested) for an Award with respect to some or all of the property which a holder of the
number of shares of Stock subject to such Award would have received in such transaction and, incident thereto, make an equitable
adjustment as determined by the Committee in the exercise price of the Award, or the number of shares or amount of property subject
to the Award or provide for a payment (in cash or other property) to the Grantee to whom such Award was granted in partial consideration
for the exchange of the Award.

 

(e)       Other Changes. In the event
of any change in the capitalization of the Company or corporate change other than those specifically referred to in paragraphs
22(b), (c) or (d), the Committee may make such adjustments in the number and class of shares subject to Awards outstanding on
the date on which such change occurs and in such other terms of such Awards as the Committee may consider appropriate, provided
that if any such Award is intended to be a Qualified Performance-Based Award such adjustment is consistent with the requirements
of Section 162(m) Exemption.

 

(f)       No Other Rights. Except as
expressly provided in the Plan, no Grantee shall have any rights by reason of any subdivision or consolidation of shares of stock
of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution,
liquidation, merger or consolidation of the Company or any other corporation. Except as expressly provided in the Plan, no issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and
no adjustment by reason thereof shall be made with respect to, the number of shares or amount of other property subject to, or
the terms related to, any Award.

 

(g)       Savings Clause. No provision
of this Section 22 shall be given effect to the extent that such provision would cause any tax to become due under Section 409A
of the Code.

 

		23.	Qualified Performance-Based Awards

 

(a)      The provisions of this Plan
are intended to ensure that all stock options and stock appreciation rights granted hereunder to any Grantee who is or may be
a “covered employee” (within the meaning of Section 162(m)(3) of the Code) at the time of exercise qualify for the
Section 162(m) Exemption, and all such Awards shall therefore be considered Qualified Performance-Based Awards and this Plan shall
be interpreted and operated consistent with that intention. The provisions referred to in the preceding sentence include without
limitation the limitation on the total amount of such Awards to any Grantee set forth in Section 3(b); the requirement of Section
4(a) that the Committee satisfy the requirements for being “outside directors” for purposes of the Section 162(m)
Exemption; the limitations on the discretion of the Committee with respect to Qualified Performance-Based Awards; and the requirements
of Sections 6(b) that the Option Price of stock options be not less than the Fair Market Value of the Stock on the Grant Date
(which requirement constitutes the Qualified Performance Goal). The base price for determining the value of stock appreciation
rights shall not be less than the Fair Market Value of the Stock on the Grant Date (which requirement constitutes the Qualified
Performance Goal).

 

    16 

     

    

 

(b)      The Committee may designate
any Award (other than a stock option or stock appreciation right) as a Qualified Performance-Based Award upon grant, in each case
based upon a determination that (i) the Grantee is or may be a “covered employee” (within the meaning of Section 162(m)(3)
of the Code) with respect to such Award, and (ii) the Committee wishes such Award to qualify for the Section 162(m) Exemption.
The provisions of this Section 23 shall apply to all such Qualified Performance-Based Awards, notwithstanding any other provision
of this Plan, other than Section 21.

 

(c)       Each
Qualified Performance-Based Award (other than a stock option or stock appreciation right) shall be earned, vested and payable (as
applicable) only upon the Committee’s determination that the Qualified Performance Goals designated for the Qualified
Performance-Based Award have been achieved, together with the satisfaction of any other conditions, such as continued employment,
as the Committee may determine to be appropriate; provided that (i) the Committee may provide, either in connection with the grant
thereof or by amendment thereafter, that achievement of such Performance Goals will be waived upon the death or Disability of the
Grantee, and (ii) the provisions of Section 21 shall apply notwithstanding this sentence.

 

(d)      Qualified Performance Goals
may take the form of absolute goals or goals relative to the performance of one or more other companies comparable to the Company
or of an index covering multiple companies. In establishing Qualified Performance Goals, the Committee may specify that there
shall be excluded the effect of restructuring charges, discontinued operations, extraordinary items, cumulative effects of accounting
changes, and other unusual or nonrecurring items, and asset impairment and the effect of foreign currency fluctuations, in each
case as those terms are defined under generally accepted accounting principles and provided in each case that such excluded items
are objectively determinable by reference to the Company's financial statements, notes to the Company's financial statements and/or
management's discussion and analysis in the Company's financial statements.

 

(e)      Except as specifically provided
in Section 23(d), no Qualified Performance-Based Award may be amended, nor may the Committee exercise any discretionary authority
it may otherwise have under this Plan with respect to a Qualified Performance-Based Award under this Plan, in any manner to waive
the achievement of the applicable Qualified Performance Goals or to increase the amount payable pursuant thereto or the value
thereof, or otherwise in a manner that would cause the Qualified Performance-Based Award to cease to qualify for the Section 162(m)
Exemption.

 

		24.	Amendment of this Plan

 

The Board or the Committee may from time
to time in its discretion amend this Plan or Awards, without the approval of the shareholders of the Company, except (i) to the
extent required under the listing requirements of any national securities exchange on which are listed any of the Company's equity
securities and (ii) to the extent the amendment would result in (A) the reduction of the Option Price of any stock option, (B)
cancellation of a stock option when the Option Price exceeds the Fair Market Value of a share of Stock in exchange for cash or
another Award (other than in connection with a Change in Control), or (C) any other action with respect to a stock option that
would be treated as a repricing under the rules and regulations of the Nasdaq Stock Market. No such amendment shall adversely affect
any previously-granted Award without the consent of the Grantee, except for (x) amendments made to comply with applicable law,
stock exchange rules or accounting rules, and (y) amendments that do not materially decrease the value of such Awards. In addition,
no such amendment may be made that would cause a Qualified Performance Based Award to cease to qualify for the Section 162(m) Exemption.

 

    17 

     

    

 

		25.	Termination of this Plan

 

This Plan shall terminate on the 10th anniversary
of the Effective Date or at such earlier time as the Board may determine. Any termination, whether in whole or in part, shall not
affect any Award then outstanding under this Plan.

 

		26.	No Illegal Transactions

 

This Plan and all Awards granted pursuant
to it are subject to all laws and regulations of any governmental authority that may be applicable thereto; and, notwithstanding
any provision of this Plan or any Award, Grantees shall not be entitled to exercise Awards or receive the benefits thereof and
the Company shall not be obligated to deliver any Stock or pay any benefits to a Grantee if such exercise, delivery, receipt or
payment of benefits would constitute a violation by the Grantee or the Company of any provision of any such law or regulation.
Such circumstances or the inability or impracticability of the Company to obtain or maintain authority from any regulatory body
(which authority is deemed by the Company to be necessary for the lawful issuance and/or sale of Stock hereunder) shall relieve
the Company of any liability for the failure to issue and/or sell such Stock and shall constitute circumstances in which the Committee
may determine to amend or cancel Awards pertaining to such Stock, with or without consideration to the affected Grantees.

 

		27.	Controlling Law

 

The law of the State of Nevada shall be
controlling in all matters relating to this Plan.

 

		28.	Severability

 

If all or any part of this Plan is declared
by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not serve to invalidate
any portion of this Plan not declared to be unlawful or invalid. Any Section or part of a Section so declared to be unlawful or
invalid shall, if possible, be construed in a manner that will give effect to the terms of such Section or part of a Section to
the fullest extent possible while remaining lawful and valid.

 

		29.	Section 409A

 

No provision of this Plan shall be given
effect to the extent that such provision would cause any tax to become due under Section 409A of the Code. No action, or failure
to act, pursuant to this Section 29 or to any other provision of the Plan that references Section 409A of the Code shall subject
the Committee, the Board or the Company to any claim, liability or expense, and neither the Committee, the Board nor the Company
shall have any obligation to indemnify or otherwise protect any Grantee from the obligation to pay any taxes pursuant to Section
409A of the Code.

 

    18 

     

    

 

30.  The number of shares of common
stock authorized for issuance under the Company’s 2009 Stock Incentive Plan and 2014 Omnibus Stock Option Plan be and hereby
is reduced by dividing the number of shares of common stock authorized for issuance under the Company’s 2009 Stock Incentive
Plan and 2014 Omnibus Stock Option Plan prior to September 16, 2016 by 12.

 

31.  That all stock options to purchase
the Company’s common stock which were outstanding on September 16, 2016, be and hereby are adjusted to (i) reduce the number
of shares of common stock subject to purchase thereunder immediately prior to the Reverse Stock Split by dividing such number of
shares by 12, and (ii) increasing the exercise price for each share of common stock subject to purchase thereunder by multiplying
the exercise price in effect immediately prior to the Reverse Stock Split by 12.

 

 

 

    19 

     

    

 

 

AMENDMENT TO

TAPIMMUNE INC.

2014 OMNIBUS STOCK OWNERSHIP PLAN

AUGUST 29, 2017

 

 

WHEREAS, the 2014 Omnibus Stock Ownership
Plan (the “Plan”) was originally adopted by the Company and approved by the stockholders on August 29, 2017;

 

WHEREAS, on July 6, 2017, the Board
of Directors approved an amendment to increase the shares authorized and available under the Plan by 800,000 shares (the “Amendment”)
and authorized the submission of the Amendment to the stockholders for approval; and

  

WHEREAS, on August 29, 2017, the stockholders
approved the Amendment to the Plan at the Company’s annual meeting and the shares authorized under the Plan were increased
by 800,000 shares from 583,334 shares to 1,383,334.

 

NOW THEREFORE, Section 3.a titled
“Scope of the Plan” is amended as follows:

 

The reference to “583,334” is replaced with “1,383,334”,
to reflect the approved increase in the shares reserved under the Plan.

 

All other terms and conditions of the Plan
remain in full force and effect.

 

    20Exhibit

NINTH AMENDED AND RESTATED
EMPLOYMENT AGREEMENT
THIS AGREEMENT, entered into as of the 31st day of December, 2017, amends and restates the Eighth Amended and Restated Agreement, dated as of the 31st day of  December 2014, by and between KOPIN CORPORATION, a Delaware corporation with its principal place of business at 125 North Drive, Westborough, MA 01581 (the “Employer”), and John C. C. Fan, (the “Employee”), as first amended and restated as of May 1, 1995.
1.Freedom to Contract.  The Employee represents that he is free to enter into this Agreement, that he has not made and will not make any agreements in conflict with this Agreement, and will not disclose to the Employer, or use for the Employer’s benefit, any trade secrets or confidential information now or hereafter in the Employee’s possession which is the property of any other party.
2.Employment.  The Employer hereby employs the Employee, and the Employee hereby accepts his employment by the Employer, upon the terms and conditions set forth herein.
3.Effective Date and Term.  This Agreement shall take effect as of January 1, 2018 (the “Effective Date”), and shall continue thereafter in full force and effect through December 31, 2020, unless terminated prior to such time in accordance with the provisions of this Agreement (the “Employment Term”).
4.Title and Duties; Extent of Services.  The Employee shall promote the business and affairs of the Employer as President and Chief Executive Officer of the Employer, with responsibility for performing such duties consistent with such position as the Board of Directors may from time to time designate.  As long as he is employed hereunder, the Employee shall also continue to serve, if nominated by the Nominating Committee of the Board of Directors and elected by the Shareholders, as a member of the Board of Directors of the Employer.
5.Termination Rights of the Parties.  The employment of the Employee by the Employer under this Agreement may be terminated at any time by either the Employee or Employer upon 30 days’ prior written notice of such termination to the other. 
6.Compensation.  Employee shall be paid a salary at an annual rate of Five Hundred Fifty-Nine Thousand and Four Hundred Dollars ($559,400) on the regularly scheduled pay dates for executives.  Subject to Section 9, the Board of Directors, in its sole discretion, shall have the absolute right to determine the Employee’s salary and benefits for each subsequent fiscal year during the term hereof; provided that in no event shall such salary or such benefits be reduced during the Employment Term unless the Employer implements a substantially similar reduction for all senior executive employees of the Employer.  The Employer agrees to diligently review and consider alternative means of providing the Employee with additional tax advantaged compensation.
7.Inventions and Proprietary Information.
7.1Inventions.  Employee shall inform the Employer using the established procedures promptly and fully of all inventions, improvements, discoveries, know-how, designs, processes, formulae and techniques, and any related suggestions and ideas (hereinafter “Inventions”), whether patentable or not, which are solely or jointly conceived or made by Employee, during the period of Employee’s employment by the Employer, whether during or out of Employee’s usual hours of work.  The Employer shall own all right, title and interest to those inventions (hereinafter “Employer Inventions”) which are: (a) within the scope of the Employer’s business, which includes areas in which research is being conducted and areas of technical or market investigation; and/or (b) related to work done for the Employer by Employee.  Employee hereby assigns and agrees to assign to the Employer Employee’s entire right, title and interest in all Employer Inventions and any patents, design patents, and any other forms of intellectual property resulting therefrom.  Employee shall protect the Employer’s right to patent Employee’s Employer Inventions by keeping written records, which are witnessed and dated, concerning dates of conception and reduction to practice, and Employee shall not publish information concerning Employer Inventions without prior approval from the Employer.  Employee shall also, during and after Employee’s employment, execute such written instruments and render such other assistance as the Employer shall reasonably request to obtain and maintain patents, design patents, or other forms of protection on any Employer Inventions and to vest and confirm in the Employer its entire right, title and interest therein.  In this regard, Employee shall be reimbursed by the Employer for actual expenses incurred and, if no longer an employee of the Employer, shall be reasonably compensated for assistance rendered.
7.2Proprietary Information.
(a)Employee understands that as a consequence of Employee’s employment by the Employer, proprietary data and confidential information (both hereinafter referred to as “Information”) relating to the business of the Employer may be disclosed to Employee or developed by Employee which is not generally known in the Employer’s trade and which is of considerable value to the Employer.  Such Information includes, without limitation, information about trade secrets, the Employer Inventions (as previously defined), patents, licenses, research projects, costs, profits, markets, sales, customer lists, plans for future development, and any other information of a similar nature to the extent not generally known in the trade.  

Employee acknowledges and agrees that Employee’s relationship to the Employer with respect to such Information shall be fiduciary in nature.  Employee shall not make any use of any such Information except in the performance of Employee’s work for the Employer; Employee shall maintain such Information in confidence; and Employee shall not disclose to any person not employed by the Employer any such Information at any time either during or after Employee’s employment or use any such Information in connection with other employment, except as authorized, in writing, by a duly empowered officer of the Employer.
(b)Employee shall deliver promptly to the Employer on termination of Employee’s employment, or at any time the Employer so requests, all memoranda, notes, records, reports, manuals, drawings, blueprints, plans, customer lists, pricing and/or cost data, and all other property or materials belonging to the Employer, including all copies thereof, which Employee then possesses or has under Employee’s control.
(c)Employee covenants that there are no Inventions and/or patents within the scope of the Employer’s business in which Employee held an interest prior to the date of this Agreement and which are not subject to this Agreement.
7.3Remedies.  Employee recognizes that irreparable injury may result to the Employer, its business and property, in the event of a breach of any of the agreements, assurances and understandings contained herein.  Employee further recognizes that in the event of such a breach, or the substantial likelihood that such a breach will occur, the Employer intends to take legal action, and to seek injunctive relief if available, in accordance with the language and spirit of this Agreement in order to protect fully its interests and property.  For the period beginning with the consummation of a Change in Control, the Employer agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses which the Employee may reasonably incur as a result of any contest, dispute or litigation by the Employee or others of the validity or enforcement of, or liability under, any provision of this Agreement unless the Employee is not the prevailing party in such contest, dispute or litigation in which event the Employee shall also repay any legal fees or expenses previously advanced by the Employer in the same connection.
8.Covenant Not to Compete.
(a)The Employee recognizes that the Employer is engaged in the development and sale of wearable hands-free voice and gesture controlled wireless computing and communication headsets in Massachusetts and throughout the United States and the world, the development of liquid crystal and organic light emitting diode electronic imaging devices and display products based thereon and noise cancellation and signal processing technologies to enhance voice signal quality and voice perception for both human-to-human communications and human-to-machine communications (automatic speech recognition) (collectively, the “Principal Business”).  In the event of the termination of the Employee’s employment hereunder, voluntarily or involuntarily, and so long as the Employer is not in material breach of its obligations to the Employee hereunder, the Employee agrees that, for a period of twelve (12) months from the date of such termination, he will neither (i) engage in the Principal Business directly for himself, or in conjunction with or on behalf of any commercial entity, or (ii) work as an employee in the Principal Business for any commercial entity, where either (A) the Employee’s duties in the course of any such activities would be substantially similar to those he has performed for the Employer hereunder or (B) the Employee’s duties in the course of such activities would involve disclosure or use of any confidential or proprietary information relating to the business of the Employer which he may in any way acquire by reason of his employment by the Employer.  The Employee’s obligation under this Section 8 shall extend to all geographical areas of the United States and the world in which the Employer, as set forth above, carries on business, either directly or indirectly, including, but not limited to, places where the Employer has a place of business, has employees or representatives, or has advertised or sold any products during the time period specified in this section.
(b)The Employee further agrees that for a period of twelve (12) months from the date of termination of his employment, he will not on behalf of himself or any commercial competitor of the Employer, compete for, or engage in the solicitation of, with respect to the Employer’s products or services, any commercial customer of the Employer, that he has, during the one year immediately preceding such termination, solicited or serviced on behalf of the Employer or that has been so solicited or serviced, during such period, by any person under the Employee’s supervision.
(c)The Employee further agrees that for a period of twelve (12) months after the date of termination of his employment, he will not, on behalf of himself or any other commercial competitor of the Employer, solicit or attempt to solicit for employment, recruit or hire any employee or independent contractors of the Employer (or any person who was an employee or independent contractor of the Employer during the six (6) month period prior to such activity by the Employee), or induce, attempt to induce or encourage any such person to terminate his or her association with the Employer.
(d)In the event of any violation of the foregoing provisions of this Section 8, the Employer shall be entitled, in addition to any other rights or remedies it may have, to injunctive relief, it being agreed that the damages which the Employer would sustain upon any such violation are difficult or impossible to ascertain in advance and that the Employee’s violations may cause irreparable harm to the Employer.
9.Post-Termination and Related Matters.
9.1Termination by Employer without Cause; Resignation for Good Reason.  If prior to the expiration of the Employment Term (i) the Employee is terminated by the Employer without Cause (as defined in Section 9.2(b) below) other than by reason of disability, (ii) the Employee dies, or (iii) the Employee resigns for Good Reason (as defined in Section 9.2(c) below) within twelve (12) months following a Change in Control (as defined in Section 9.2(d) below) of the Employer, 

Employer shall pay the following amounts and provide the following benefits to the Employee:
a.an amount equal to the sum of the Employee’s earned but unpaid base salary and pro-rated annual bonus through the date of Employee’s termination, which prorated annual bonus shall be calculated by reference to his then current year’s target annual bonus, the base salary portion of such amount shall be paid on the Employer’s next regularly scheduled pay date for executives following the Termination Date, and the bonus portion of such amount shall be paid within thirty (30) days following the Termination Date;
b.$1,500,000, which amount will be paid to Employee in twenty-four (24) equal monthly installments during the two-year period following the Termination Date commencing with the next regularly scheduled pay date for executives following the Termination Date;
c.an amount equal to the value of Employee’s accrued but unpaid vacation days, which amount shall be paid on the Employer’s next regularly scheduled pay date for executives following the Termination Date;
d.$40,000 per year (commencing with the next regularly scheduled pay date for executives following the Termination Date) for ten (10) years following the Employee’s Termination Date to enable the Employee (or, in the event of the death of the Employee, his spouse) to purchase for himself and his spouse supplemental health insurance coverage (including Medicare Part B, Medicare Part D, and Medigap coverage) beyond the coverage that they may obtain from Medicare Part A; and
e.immediately vest all options to purchase Employer Stock, all stock appreciation rights, all restricted stock awards, and any other compensatory equity awards, granted by the Employer to the Employee. Notwithstanding anything contained hereinabove to the contrary, Employer shall also pay the amount and provide the benefits to the Employee set forth in (i) Section 9.1(b) if the Employee is terminated by the Employer prior to the expiration of the Employment Term by reason of his long-term disability arising from sickness, accident or injury suffered while traveling on Company business (but not in connection with any disability arising from any other circumstances) (an “Employment-Related Disability”), and  (ii) Section 9.1(d) if (x) the Employee remains employed with the Employer through the end of the Employment Term, (y) the Employee resigns for Good Reason prior to the expiration of the Employment Term, or (z) prior to the expiration of the Employment Term the Employer terminates the Employee’s employment for any reason other than Cause.

Any amounts payable under this Section 9.1 shall be subject to applicable tax withholding. It is the intention of the parties that this Agreement comply with and be interpreted in accordance with Section 409A of the Internal Revenue Code of 1986, as amended and the United States Department of Treasury regulations and other guidance issued thereunder (collectively, “Section 409A”).  Each payment in a series of payments provided to the Employee pursuant to this Agreement will be deemed a separate payment for purposes of Section 409A.  If any amount payable under this Agreement upon a termination of employment is determined by the Employer to constitute nonqualified deferred compensation for purposes of Section 409A (after taking into account the short-term deferral exception and the involuntary separation pay exception of the regulations promulgated under Section 409A which are hereby incorporated by reference), such amount shall not be paid unless and until the Employee's termination of employment also constitutes a “separation from service” from the Employer for purposes of Section 409A.  In the event that the Employee is determined by the Employer to be a “specified employee” for purposes of Section 409A at the time of his separation from service with the Employer, then any payments of nonqualified deferred compensation (after giving effect to any exemptions available under Section 409A) otherwise payable to the Employee during the first six (6) months following his separation from service shall be delayed and paid in a lump sum upon the earlier of (x) the Employee’s date of death, or (y) the first day of the seventh month following the Employee’s separation from service, together with interest on such delayed payments at the prime rate as published in the Eastern edition of The Wall Street Journal on the business day immediately preceding the Employee’s separation from service and the balance of the installments (if any) will be payable in accordance with their original schedule.  To the extent any expense, reimbursement or in-kind benefit provided to the Employee constitutes nonqualified deferred compensation for purposes of Section 409A, (i) the amount of any expense eligible for reimbursement or the provision of any in-kind benefit with respect to any calendar year shall not affect the amount of expense eligible for reimbursement or the amount of in-kind benefit provided to the Employee in any other calendar year, (ii) the reimbursements for expenses for which the Employee is entitled to be reimbursed shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and (iii) the right to payment or reimbursement or in-kind benefits hereunder may not be subject to liquidation for any other benefit.

9.2Other.
a.“Termination Date” shall mean the earlier of (i) the expiration of the Employment Term, or (ii) the date the Employee’s employment is terminated (x) by his death, then the date of his death, (y) by his long-term disability, then the date of his occurrence of his long-term disability, or (z) for any other reason (including the Employee’s resignation for Good Reason following a Change in Control), then the date on which such termination of employment is to be effective pursuant to the notice of termination to be given by the party terminating the relationship.
b.“Cause” shall mean (i) willful misconduct in the performance of Employee’s duties and responsibilities, (ii) willful nonperformance of Employee’s duties and responsibilities, (iii) willful contravention of written instructions of the Board of Directors of the Employer, (iv) breach by Employee of a material term of this Agreement, 

(v) Employee’s breach of trust, duty of loyalty or fiduciary duty owed to the Employer, Employer’s Board of Directors or Employer’s shareholders, of (vi) Employee’s conviction of, or written admission or plea of nolo contendere to, a felony or crime of moral turpitude, or Employee’s imprisonment for any crime; provided, however, that such termination may not occur until thirty (30) days after Employer’s Board of Directors has given Employee a written notice specifying the ground(s) for such termination for Cause and an opportunity during such thirty (30) day notice period to have a hearing concerning such notice before the Board of Directors of the Employer, and then only if the Employee has failed to cure the Cause giving rise to such potential termination, if such Cause is curable.  Any Cause that results in adverse publicity concerning the Employer or damage to the Employer’s business or reputation shall be deemed to be incurable.
c.“Good Reason” shall mean the occurrence, without the Employee’s written consent, of any of the following events or circumstances:
i.the assignment to the Employee of duties that are inconsistent in any material respect with the Employee’s position (including status, offices, titles, and reporting requirements), authority, or responsibilities, or any other action or omission by the Employer that results in a material diminution in such position, authority, or responsibility, including the failure to appoint Employee as the Chief Executive Officer of the combined or acquiring entity reporting to its Board of Directors following a Change in Control;
ii.a reduction in the Employee’s base salary, other than as part of a similar reduction in base salary for all senior executive employees of the Employer but not to exceed 15% of the Employee’s base salary;
iii.the failure by the Employer to (1) continue in effect any material compensation or benefit plan or program in which the Employee participates, or that is applicable to the Employee, unless an equitable arrangement providing substantially similar benefits in the aggregate (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan or program, (2) continue the Employee’s participation therein (or in such substitute or alternative plan) on a basis not materially less favorable, in terms of the monetary value of benefits provided , or (3) award annual bonuses to the Employee in amounts and in a manner substantially consistent with the Employer’s past practice in light of the Employer’s financial performance;
iv.a change by the Employer in the location at which the Employee performs the Employee’s principal duties for the Employer to a new location that is both: (1) further from the Employee’s principal residence, and (2) more than 50 miles from the location at which the Employee performed the Employee’s principal duties for the Employer;
v.the failure of the Employer to obtain the agreement from any successor to the Employer to assume and agree to perform this Agreement, as required by Section 9.3;
vi.any failure of the Employer to pay or provide to the Employee any portion of the Employee’s compensation or benefits within seven (7) days of the date such compensation or benefits are due, unless such failure to pay is inadvertent and is cured within thirty (30) days with interest at LIBOR plus 2%; or
vii.any material breach by the Employer of this Agreement.
A termination by the Employee for Good Reason may not occur until thirty (30) days after the Employee has given the Board of Directors written notice specifying the ground(s) for such termination for Good Reason and an opportunity during such thirty (30) day notice period for the Board of Directors of the Employer to discuss such notice with the Employee, and then only if the Employer has failed to cure the event or circumstance (including compensation for any losses or damages resulting therefrom) giving rise to such Good Reason, if such Good Reason is curable.
d.“Change in Control” shall mean:
i.The acquisition by any individual, entity, or group within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (1) the then outstanding shares of the common stock of the Employer (“Stock”), or (2) the combined voting power of the then outstanding securities of the Employer ordinarily having the right to vote at elections of directors (“Outstanding Employer Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control under this Section 9(d)(i): (A) any acquisition directly from the Employer (excluding an acquisition by virtue of the exercise of a conversion privilege), (B) any acquisition by the Employer or by any corporation controlled by the Employer; (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Employer or any corporation controlled by the Employer; or (D) any acquisition by any corporation pursuant to a consolidation or merger, if, following such consolidation or merger, the conditions described in clauses (1), (2) and (3) of paragraph (iii) of this Section 9(d) are satisfied; or
ii.Individuals who, as of the date hereof or of the most recent renewal hereof, constitute the Board of Directors (the “Incumbent Board”) ceasing for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director (other than a director designated by a Person who has entered into an agreement with the Employer to effect a transaction described in paragraphs (i) or (iii) of this Section 9(d)) subsequent to the date hereof whose election, or nomination for election by the Employer’s shareholders, was approved by a vote or resolution of at least a majority of the directors then composing the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-1l of Regulation 14A 

promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors; or
iii.The consummation of the transactions contemplated by a resolution of the Board of Directors approving an agreement of consolidation of the Employer with or merger of the Employer into another corporation or business entity in each case, unless, following such consolidation, or merger, (1) more than 50% of, respectively, the then outstanding shares of common stock of the corporation resulting from such consolidation or merger and/or the combined voting power of the then outstanding voting securities of such corporation or business entity entitled to vote generally in the election of directors (or other persons having the general power to direct the affairs of such entity) is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Stock and Outstanding Employer Voting Securities immediately prior to such consolidation or merger in substantially the same proportions as their ownership, immediately prior to such consolidation or merger, of the Stock and Outstanding Employer Voting Securities, as the case may be, (2) no Person (excluding the Employer, any employee benefit plan (or related trust) of the Employer or such corporation or other business entity resulting from such consolidation or merger) and any Person beneficially owning, immediately prior to such consolidation or merger, directly or indirectly, 50% or more of the Stock or Outstanding Employer Voting Securities, as the case may be, beneficially owns, directly or indirectly, 50% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such consolidation or merger and/or the combined voting power of the then outstanding voting securities of such corporation or business entity entitled to vote generally in the election of its directors (or other persons having the general power to direct the affairs of such entity) and (3) at least a majority of the members of the board of directors (or other group of persons having the general power to direct the affairs of the corporation or other business entity) resulting from such consolidation or merger were members of the Incumbent Board at the time of the execution of the initial agreement providing for such consolidation or merger; provided, that any right to receive compensation pursuant to Section 9 above which shall vest by reason of the action of the Board of Directors pursuant to this paragraph (iii) shall be divested upon (A) the rejection of such agreement of consolidation or merger by the stockholders of the Employer or (B) its abandonment by either party thereto in accordance with its terms; or
iv.The consummation of the transactions contemplated by the adoption by the requisite majority of the whole Board of Directors, or by the holders of such majority of stock of the Employer as is required by law or by the Certificate of incorporation or By-Laws of the Employer as then in effect, of a resolution or consent authorizing (1) the dissolution of the Employer or (2) the sale or other disposition of all or substantially all of the assets of the Employer, other than to a corporation or other business entity with respect to which, following the such sale or other disposition, (A) more than 50% of, respectively, the then outstanding shares of common stock of such corporation and/or the combined voting power of the outstanding voting securities of such corporation or other entity to vote generally in the election of its directors (or other persons have the general power to direct its affairs) is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Stock and Outstanding Employer Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the Stock and/or Outstanding Employer Voting Securities, as the case may be, (B) no Person (excluding the Employer and any employee benefit plan (or related trust) of the Employer or such corporation or other business entity) and any Person beneficially owning, immediately prior to such sale or other disposition, directly or indirectly, 50% or more of the Stock and/or Outstanding Employer Voting Securities, as the case may be, beneficially owns, directly or indirectly, 50% or more of, respectively, the then outstanding shares of common stock of such corporation and/or the combined voting power of the then outstanding voting securities of such corporation or other business entity entitled to vote generally in the election of directors (or other persons having the general power to direct its affairs), and (C) at least a majority of the members of the board of directors or group of persons having the general power to direct the affairs of such corporation or other entity were members of the Incumbent Board at the time of the execution of the initial agreement of action of the Board of Directors providing for such sale or other disposition of assets of the Employer; provided, that any right to receive compensation pursuant to Section 9 above which shall vest by reason of the action of the Board of Directors or the stockholders pursuant to this subsection shall be divested upon the abandonment by the Employer of such dissolution, or such sale of or other disposition of assets, as the case may be.
9.3Successor.  The failure of any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or assets of the Employer to assume this Agreement or to perform the Employer’s obligations under this Agreement shall, at the election of the Employee, be deemed to constitute a termination of the Employee by the Employer without Cause.
9.4Mitigation.  The Employee shall not be required to mitigate the amount of any payment or benefits provided for in this Agreement by seeking other employment or otherwise.  Further, the amount of any payment or benefits provided for in this Agreement shall not be reduced by any compensation earned by the Employee as a result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Employee to the Employer or otherwise.
9.5Indemnification.  To the maximum extent permitted under Delaware law as from time to time in effect, the Employer shall indemnify the Employee and hold him harmless from, against, and in respect of any and all damages, deficiencies, actions, suits, proceedings, demands, assessments, excise taxes, judgments, claims, losses, costs, expenses, 

obligations, and liabilities arising from or relating to the performance of the Employee’s duties and responsibilities under this Agreement.  To the maximum extent permitted under Delaware law, the Company shall advance all expenses incurred by or on behalf of the Employee in connection with any proceeding arising in connection with the Employer’s obligations under this Section 9.5 within thirty (30) days after the receipt by the Company of a statement or statements from the Employee requesting such advance or advances from time to time, whether prior to or after final disposition of such proceeding.  Such statement or statements shall reasonably evidence the expenses incurred by the Employee and shall include or be preceded or accompanied by a written undertaking by or on behalf of the Employee to repay any expenses advanced if it shall ultimately be determined that the Employee is not entitled to be indemnified against such expenses.
9.6D&O Coverage.  For so long as, and only for so long as, the Employer continues to maintain directors’ and officers’ liability insurance, the Employer shall maintain a policy covering the Employee in the amount of $5,000,000 in the aggregate, or such greater amount of coverage as may be provided by the Employer to directors and officers generally after the Effective Date.  The Employer will also use commercially reasonable efforts to obtain coverage for Employee under any such policy for six (6) years after Employee ceases being an officer or director.
9.7Employer’s Obligations Upon Non-Renewal.  If the parties do not extend or renew this Agreement upon the expiration of the Employment Term on terms that are, in the aggregate, comparable to the terms of this Agreement, then the Employer shall pay to the Employee the amounts and provide the benefits (including vesting of equity awards) described in Section 9.1 of this Agreement as if the Employee had been terminated by the Employer without Cause.  The obligations and rights of the parties to this Agreement under Sections 7 through 10 of this Agreement shall survive the expiration of this Agreement.
10.Provisions of General Application.
10.1Governing Law.  This Agreement and the rights and obligations of the parties hereunder shall be construed, interpreted and determined in accordance with the laws of the Commonwealth of Massachusetts.
10.2Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be an original and all of which, taken together, shall constitute one and the same instrument.  In making proof of this Agreement it shall not be necessary to produce or account for more than one such counterpart.
10.3Other Agreements.  This Agreement represents the entire understanding and agreement between the parties as to the subject matter hereof.  No prior, concurrent or subsequent agreement, whether written or oral, shall be construed to change, amend, alter, repeal or invalidate this Agreement, unless this Agreement is specifically identified in and made subject to such other written agreement.
10.4Amendment.  This Agreement may be amended only by a written instrument executed in one or more counterparts by the parties hereto.
10.5Waiver.  No consent to or waiver of any breach or default in the performance of any obligation hereunder shall be deemed or construed to be a consent to or waiver of any other breach or default in the performance of any of the same or any other obligation hereunder.  Failure on the part of either party to complain of any act or failure to act of the other party or to declare the other party in default, irrespective of the duration of such failure, shall not constitute a waiver or rights hereunder and no waiver hereunder shall be effective unless it is in writing, executed by the party waiving the breach or default hereunder.
10.6Headings.  The headings of sections and subsections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement or to affect the meaning of any of its provisions.
10.7Severability.  If any provision of this Agreement shall, in whole or in part, prove to be invalid for any reason, such invalidity shall affect only the portion of such provision which shall be invalid, and in all other respects this Agreement shall stand as if such invalid provision, or the invalid portion thereof, had not been a part hereof.
10.8Notices and Other Communications.  All notices and other communications required hereunder shall be effective if in writing and if delivered or sent by certified or registered mail, return receipt requested (a) if to the Employee, at his last known residence address as retained in the records of the Company, with a copy to Arthur S. Meyers, Choate, Hall & Stewart LLP, Two International Place, Boston, MA  02110, and (b) if to the Employer, at 125 North Drive, Westborough, MA 01581, Attention: Chief Financial Officer, with a copy to John H. Chu, Esq., Chu, Ring & Hazel, LLP, 241 A Street, Boston, MA  02210, or to such other persons or addresses as the parties hereto may specify by a written notice to the other from time to time.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, this Agreement has been executed by the Employer, by its duly authorized officer, and by the Employee, as of the date first above written.
KOPIN CORPORATION                EMPLOYEE
/s/    MORTON COLLINS                   /s/    JOHN C.C. FAN                                
By:  Morton Collins                John C. C. Fan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]