Document:

Exhibit
10.25

 

ANTRIABIO, INC.

2016 NON Qualified Stock Option PLAN, AS AMENDED

 

Section 1.          Purpose

 

The purpose of the Plan is to promote the interests
of the Company and its stockholders by aiding the Company in attracting and retaining employees, officers, consultants, advisors
and non-employee Directors capable of assuring the future success of the Company, to offer such persons incentives to put forth
maximum efforts for the success of the Company’s business and to compensate such persons through stock options and provide
them with opportunities for stock ownership in the Company, thereby aligning the interests of such persons with the Company’s
stockholders.

 

Section 2.          Definitions

 

As used in the Plan, the following terms shall
have the meanings set forth below:

 

(a)           “Affiliate”
shall mean any entity that, directly or indirectly through one or more intermediaries, is controlled by the Company.

 

(b)           “Award”
shall mean an Option awarded pursuant to this Plan.

 

(c)           “Award
Agreement” shall mean any written agreement, contract or other instrument or document evidencing an Award granted under
the Plan (including a document in an electronic medium) executed in accordance with the requirements of Section 9(b).

 

(d)           “Board”
shall mean the Board of Directors of the Company.

 

(e)           “Code”
shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated thereunder.

 

(f)           “Committee”
means a committee or subcommittee of the Board appointed from time to time by the Board. Notwithstanding the foregoing, if, and
to the extent that no Committee exists which has the authority to administer this Plan, the functions of the Committee shall be
exercised by the Board and all references herein to the Committee shall be deemed to be references to the Board.

 

(g)          “Company”
shall mean AntriaBio, Inc., a Delaware corporation and any successor corporation.

 

(h)          
“Director” shall mean a member of the Board.

 

(i)            “Eligible
Person” shall mean any employee, officer, non-employee Director, consultant, independent contractor or advisor providing
services to the Company or any Affiliate, or any such person to whom an offer of employment or engagement with the Company or any
Affiliate is extended.

 

     

    

    

 

(j)            “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(k)           “Fair
Market Value” with respect to of one Share as of any date shall mean (a) if the Share is listed on any established stock
exchange, the price of one Share at the close of the regular trading session of such market or exchange on such date, as reported
by The Wall Street Journal or a comparable reporting service, or, if no sale of Shares shall have occurred on such date, on the
next preceding date on which there was a sale of Shares; (b) if the Shares are not so listed on any established stock exchange,
the average of the closing “bid” and “asked” prices quoted by the OTCQB, the National Quotation Bureau,
or any comparable reporting service on such date or, if there are no quoted “bid” and “asked” prices on
such date, on the next preceding date for which there are such quotes for a Share; or (c) if the Shares are not publicly traded
as of such date, the per share value of a Share, as determined by the Board, or any duly authorized Committee of the Board, in
its sole discretion, by applying principles of valuation with respect thereto.

 

(l)           
“Non-Employee Director” shall mean a Director who is not also an employee of the Company or an Affiliate.

 

(m)          
“Option” shall mean shall mean an option granted under the Plan.

 

(n)          
“Participant” shall mean an Eligible Person designated to be granted an Award under the Plan.

 

(o)          
“Person” shall mean any individual or entity, including a corporation, partnership, limited liability company,
association, joint venture or trust.

 

(p)          “Plan”
shall mean the AntriaBio, Inc. 2014 Non Qualified Stock Option Plan, as amended from time to time.

 

(q)          
“Rule 16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the
Securities Exchange Act of 1934, as amended, or any successor rule or regulation.

 

(r)          
“Section 409A” shall mean Section 409A of the Code, or any successor provision, and applicable Treasury
Regulations and other applicable guidance thereunder.

 

(s)          “Securities
Act” shall mean the Securities Act of 1933, as amended.

 

(t)          “Share”
or “Shares” shall mean common shares $0.001 par value in the capital of the Company (or such other securities
or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan).

 

(u)          “Specified
Employee” shall mean a specified employee as defined in Section 409A(a)(2)(B) of the Code or applicable proposed
or final regulations under Section 409A, determined in accordance with procedures established by the Company and applied uniformly
with respect to all plans maintained by the Company that are subject to Section 409A.

 

    	 	-2-	 

    

    

 

Section 3.          Administration

 

(a)          Power
and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the express provisions of the Plan
and to applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the
number of Shares to be covered by (or the method by which payments or other rights are to be calculated in connection with) each
Award; (iii) determine the terms and conditions of any Award or Award Agreement, including any terms relating to the forfeiture
of any Award and the forfeiture, recapture or disgorgement of any cash, Shares or other amounts payable with respect to any Award;
(iv) amend the terms and conditions of any Award or Award Agreement, subject to the limitations under Section 7; (v) accelerate
the exercisability of any Award or the lapse of any restrictions relating to any Award, subject to the limitations in Section 7,
(vi) determine whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, other securities,
other Awards or other property (excluding promissory notes), or canceled, forfeited or suspended, subject to the limitations in
Section 7; ; (vii)  interpret and administer the Plan and any instrument or agreement, including an Award Agreement, relating
to the Plan; (ix) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate
for the proper administration of the Plan; (ix) make any other determination and take any other action that the Committee
deems necessary or desirable for the administration of the Plan; and (x) adopt such modifications, rules, procedures and subplans
as may be necessary or desirable to comply with provisions of the laws of non-U.S. jurisdictions in which the Company or an Affiliate
may operate, including, without limitation, establishing any special rules for Affiliates, Eligible Persons or Participants located
in any particular country, in order to meet the objectives of the Plan and to ensure the viability of the intended benefits of
Awards granted to Participants located in such non-United States jurisdictions. Unless otherwise expressly provided in the Plan,
all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award or Award Agreement
shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon any
Participant, any holder or beneficiary of any Award or Award Agreement, and any employee of the Company or any Affiliate.

 

(b)          Delegation.
The Committee may delegate to one or more officers or Directors of the Company, subject to such terms, conditions and limitations
as the Committee may establish in its sole discretion, the authority to grant Awards; provided, however, that the Committee shall
not delegate such authority (i) with regard to grants of Awards to be made to officers or directors of the Company or (ii) in such
a manner as would contravene Section 157 of the Delaware General Corporation Law, as amended.

 

(c)          Power
and Authority of the Board. Notwithstanding anything to the contrary contained herein, the Board may, at any time and from
time to time, without any further action of the Committee, exercise all the powers and duties of the Committee under the Plan.

 

    	 	-3-	 

    

    

 

Section 4.          Shares
Available for Awards

 

(a)          Shares
Available. Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number of Shares that may be issued
under all Awards under the Plan shall be fifteen million (15,000,000) Shares which represents post Reverse Stock Split Shares.

 

(b)          Counting
Shares. For purposes of this Section 4, if an Award entitles the holder thereof to receive or purchase Shares, the number of
Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award against the aggregate
number of Shares available for granting Awards under the Plan. For purposes of determining the number of Shares covered on the
date of grant by an Option, the aggregate number of Shares with respect to which the Option is to be exercised shall be counted
against the number of Shares available for Awards under the Plan (without regard to the number of actual Shares issued upon exercise
or settlement).

 

If any Shares covered by an Award or to which
an Award relates are not purchased or are forfeited or are reacquired by the Company, or if an Award otherwise terminates or is
cancelled without delivery of any Shares, then the number of Shares counted pursuant to Section 4(b) of the Plan against the aggregate
number of Shares available under the Plan with respect to such Award, to the extent of any such forfeiture, reacquisition by the
Company, termination or cancellation, shall again be available for granting Awards under the Plan. Notwithstanding anything to
the contrary in this Section 4, the following Shares will not again become available for issuance under the Plan: (i) any Shares
which would have been issued upon any exercise of an Option but for the fact that the exercise price was paid by a “net exercise”
pursuant to Section 6(a)(iii)(B) or any Shares tendered in payment of the exercise price of an Option; (ii) any Shares withheld
by the Company or Shares tendered to satisfy any tax withholding obligation with respect to an Option; or (iii) Shares that are
repurchased by the Company using Option exercise proceeds.

 

(c)          Adjustments.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase
or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities
of the Company or other similar corporate transaction or event affects the Shares such that an adjustment is necessary in order
to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the
Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other
securities or other property) that thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other
securities or other property) subject to outstanding Awards and (iii) the purchase price or exercise price with respect to
any Award.

 

Section 5.          Eligibility

 

Any Eligible Person shall be eligible to be
designated as a Participant. In determining which Eligible Persons shall receive an Award and the terms of any Award, the Committee
may take into account the nature of the services rendered by the respective Eligible Persons, their present and potential contributions
to the success of the Company or such other factors as the Committee, in its discretion, shall deem relevant.

 

    	 	-4-	 

    

    

 

Section 6.          Awards

 

(a)          Options.
The Committee is hereby authorized to grant Options to Eligible Persons with the following terms and conditions and with such additional
terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:

 

		(i)	Exercise Price. The purchase price per Share purchasable
under an Option shall be determined by the Committee and shall not be less than 100% of the Fair Market Value of a Share on the
date of grant of such Option; provided, however, that the Committee may designate a purchase price below Fair Market Value
on the date of grant if the Option is granted in substitution for a stock option previously granted by an entity that is acquired
by or merged with the Company or an Affiliate.

 

		(ii)	Option Term. The term of each Option shall be fixed
by the Committee at the time but shall not be longer than 10 years from the date of grant.

 

		(iii)	Time and Method of Exercise. The Committee shall
determine the time or times at which an Option may be exercised in whole or in part and the method or methods by which, and the
form or forms, including, but not limited to, cash, Shares (actually or by attestation), other securities, other Awards or other
property, or any combination thereof, having a Fair Market Value on the exercise date equal to the applicable exercise price,
in which, payment of the exercise price with respect thereto may be made or deemed to have been made.

 

		(A)	Promissory Notes. Notwithstanding the foregoing,
the Committee may not accept a promissory note as consideration.

 

		(B)	Net Exercises. The Committee may, in its discretion,
permit an Option to be exercised by delivering to the Participant a number of Shares having an aggregate Fair Market Value (determined
as of the date of exercise) equal to the excess, if positive, of the Fair Market Value of the Shares underlying the Option being
exercised on the date of exercise, over the exercise price of the Option for such Shares.

 

(b)          General.

 

		(i)	Consideration for Awards. Awards may be granted
for no cash consideration or for any cash or other consideration as may be determined by the Committee or required by applicable
law.

 

    	 	-5-	 

    

    

 

		(ii)	Awards May Be Granted Separately or Together. Awards
may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with or in substitution for any
other Award or any award granted under any other plan of the Company or any Affiliate. Awards granted in addition to or in tandem
with other Awards or in addition to or in tandem with awards granted under any other plan of the Company or any Affiliate may
be granted either at the same time as or at a different time from the grant of such other Awards or awards.

 

		(iii)	Forms of Payment under Awards. Subject to the terms
of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant,
exercise or payment of an Award may be made in such form or forms as the Committee shall determine (including, without limitation,
cash, Shares, other securities (but excluding promissory notes), other Awards or other property or any combination thereof), and
may be made in a single payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and
procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment
or crediting of reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents with
respect to installment or deferred payments.

 

		(iv)	Limitation on Awards Granted to Non-Employee Directors.
No Director who is not also an employee of the Company or an Affiliate may be granted any Award or Awards denominated in Shares
that exceed $200,000 value in the aggregate in any calendar year (determined based upon the Black Scholes valuation method).

 

		(v)	Limits on Transfer of Awards. Except as otherwise
provided by the Committee in its discretion and subject to such additional terms and conditions as it determines, no Award (other
than fully vested and unrestricted Shares issued pursuant to any Award) and no right under any such Award shall be transferable
by a Participant other than by will or by the laws of descent and distribution, and no Award (other than fully vested and unrestricted
Shares issued pursuant to any Award) or right under any such Award may be pledged, alienated, attached or otherwise encumbered,
and any purported pledge, alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company or
any Affiliate. The Committee may establish procedures as it deems appropriate for a Participant to designate a person or persons,
as beneficiary or beneficiaries, to exercise the rights of the Participant and receive any property distributable with respect
to any Award in the event of the Participant’s death.

 

    	 	-6-	 

     

    

 

		(vi)	Restrictions; Securities Exchange Listing. All Shares
or other securities delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such restrictions
as the Committee may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements, and
the Committee may cause appropriate entries to be made with respect to, or legends to be placed on the certificates for, such
Shares or other securities to reflect such restrictions. The Company shall not be required to deliver any Shares or other securities
covered by an Award unless and until the requirements of any federal or state securities or other laws, rules or regulations (including
the rules of any securities exchange) as may be determined by the Company to be applicable are satisfied.

 

		(vii)	Prohibition on Option Repricing. Except as provided
in Section 4(c) hereof, the Committee may not, without prior approval of the Company’s stockholders, seek to effect any
re-pricing of any previously granted, “underwater” Option by: (i) amending or modifying the terms of the Option to
lower the exercise price; (ii) canceling the underwater Option and granting either (A) replacement Options having a lower exercise
price; or (B) Shares in exchange; or (iii) repurchasing the underwater Option. An Option will be deemed to be “underwater”
at any time when the Fair Market Value of the Shares covered by such Option is less than the exercise price.

 

		(viii)	Acceleration of Vesting or Exercisability. No Award
Agreement shall accelerate the exercisability of any Award or the lapse of restrictions relating to any Award in connection with
a change-in-control event unless such acceleration occurs upon the consummation of (or effective immediately prior to the consummation
of, provided that the consummation subsequently occurs) such change-in-control event.

 

Section 7.          Amendment
and Termination; Corrections

 

(a)          Amendments
to the Plan and Awards. The Board may from time to time amend, suspend or terminate this Plan, and the Committee may amend
the terms of any previously granted Award, provided that no amendment to the terms of any previously granted Award may, (except
as expressly provided in the Plan) adversely alter or impair the terms or conditions of the Award previously granted to a Participant
under this Plan without the written consent of the Participant or holder thereof. Any amendment to this Plan, or to the terms of
any Award previously granted, is subject to compliance with all applicable laws, rules, regulations and policies of any applicable
governmental entity or securities exchange, including receipt of any required approval from the governmental entity or stock exchange.
For greater certainty and without limiting the foregoing, the Board may amend, suspend, terminate or discontinue the Plan, and
the Committee may amend or alter any previously granted Award, as applicable, without obtaining the approval of stockholders of
the Company in order to:

 

		(i)	amend the eligibility for, and limitations or conditions
imposed upon, participation in the Plan;

 

    	 	-7-	 

    

    

 

		(ii)	amend any terms relating to the granting or exercise of
Awards, including but not limited to terms relating to the amount and payment of the exercise price, or the vesting, expiry, assignment
or adjustment of Awards, or otherwise waive any conditions of or rights of the Company under any outstanding Award, prospectively
or retroactively;

 

		(iii)	make changes that are necessary or desirable to comply
with applicable laws, rules, regulations and policies of any applicable governmental entity or stock exchange (including amendments
to Awards necessary or desirable to avoid any adverse tax results under Section 409A, and no action taken to comply with Section
409A shall be deemed to impair or otherwise adversely alter or impair the rights of any holder of an Award or beneficiary thereof);
or

 

		(iv)	amend any terms relating to the administration of the Plan,
including the terms of any administrative guidelines or other rules related to the Plan.

 

For greater certainty, prior approval
of the stockholders of the Company shall be required for any amendment to the Plan or an Award that would:

 

		(i)	require stockholder approval under the rules or regulations
of the Securities and Exchange Commission or any other securities exchange that are applicable to the Company;

 

		(ii)	increase the number of shares authorized under the Plan
as specified in Section 4(a) of the Plan;

 

		(iii)	increase the number of shares or value of the Plan;

 

		(iv)	permit repricing of Options, which is currently prohibited
by Section 6(b)(vii) of the Plan;

 

		(v)	permit the award of Options at a price less than 100% of
the Fair Market Value of a Share on the date of grant of such Option , contrary to Section 6(a)(i) of the Plan; or

 

		(vi)	increase the maximum term permitted for Options as specified
in Section 6(a)(ii) of the Plan.

 

(b)          Corporate
Transactions. In the event of any reorganization, merger, consolidation, split-up, spin-off, combination, plan of arrangement,
take-over bid or tender offer, repurchase or exchange of Shares or other securities of the Company or any other similar corporate
transaction or event involving the Company (or the Company shall enter into a written agreement to undergo such a transaction or
event), the Committee or the Board may, in its sole discretion, provide for any of the following to be effective upon the consummation
of the event (or effective immediately prior to the consummation of the event, provided that the consummation of the event subsequently
occurs), and no action taken under this Section 7(b) shall be deemed to impair or otherwise adversely alter or impair the rights
of any holder of an Award or beneficiary thereof:

 

    	 	-8-	 

    

    

 

		(i)	either (A) termination of any the Award, whether or
not vested, in exchange for an amount of cash and/or other property, if any, equal to the amount that would have been attained
upon the exercise of the Award or realization of the Participant’s rights (and, for the avoidance of doubt, if, as of the
date of the occurrence of the transaction or event described in this Section 7(b)(i)(A), the Committee or the Board determines
in good faith that no amount would have been attained upon the exercise of the Award or realization of the Participant’s
rights, then the Award may be terminated by the Company without any payment) or (B) the replacement of the Award with other
rights or property selected by the Committee or the Board, in its sole discretion;

 

		(ii)	that the Award be assumed by the successor or survivor
corporation, or a parent or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the
stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number
and kind of shares and prices;

 

		(iii)	that the Award shall be exercisable or payable or fully
vested with respect to all Shares covered thereby, notwithstanding anything to the contrary in the applicable Award Agreement;
or

 

		(iv)	that the Award cannot vest, be exercised or become payable
after a date certain in the future, which may be the effective date of the event.

 

(c)          Correction
of Defects, Omissions and Inconsistencies. The Committee may, without prior approval of the stockholders of the Company, correct
any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner and
to the extent it shall deem desirable to implement or maintain the effectiveness of the Plan.

 

Section 8.          Income
Tax Withholding

 

In order to comply with all applicable federal,
state, local or foreign income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that
all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which are the sole and absolute responsibility
of a Participant, are withheld or collected from such Participant. In order to assist a Participant in paying all or a portion
of the applicable taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions relating to) an Award,
the Committee, in its discretion and subject to such additional terms and conditions as it may adopt, may permit the Participant
to satisfy such tax obligation by (a) electing to have the Company withhold a portion of the Shares otherwise to be delivered
upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount
of such taxes (but only to the extent necessary to satisfy minimum statutory withholding requirements) or (b) delivering to
the Company Shares other than Shares issuable upon exercise or receipt of (or the lapse of restrictions relating to) such Award
with a Fair Market Value equal to the amount of such taxes. The election, if any, must be made on or before the date that the amount
of tax to be withheld is determined.

 

    	 	-9-	 

    

    

 

Section 9.          General
Provisions

 

(a)          No
Rights to Awards. No Eligible Person, Participant or other person shall have any claim to be granted any Award under the Plan,
and there is no obligation for uniformity of treatment of Eligible Persons, Participants or holders or beneficiaries of Awards
under the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different
Participants.

 

(b)          Award
Agreements. No Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement
shall have been signed by the Participant (if requested by the Company), or until such Award Agreement is delivered and accepted
through an electronic medium in accordance with procedures established by the Company. An Award Agreement need not be signed by
a representative of the Company unless required by the Committee. Each Award Agreement shall be subject to the applicable terms
and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee.

 

(c)          Plan
Provisions Control. In the event that any provision of an Award Agreement conflicts with or is inconsistent in any respect
with the terms of the Plan as set forth herein or subsequently amended, the terms of the Plan shall control.

 

(d)          No
Rights of Stockholders. Neither a Participant nor the Participant’s legal representative shall be, or have any of the
rights and privileges of, a stockholder of the Company with respect to any Shares issuable upon the exercise or payment of any
Award, in whole or in part, unless and until such Shares have been issued.

 

(e)          No
Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting
or continuing in effect other or additional compensation plans or arrangements, and such plans or arrangements may be either generally
applicable or applicable only in specific cases.

 

(f)          No
Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be retained as an employee
of the Company or any Affiliate, nor will it affect in any way the right of the Company or an Affiliate to terminate a Participant’s
employment at any time, with or without cause, in accordance with applicable law. In addition, the Company or an Affiliate may
at any time dismiss a Participant from employment free from any liability or any claim under the Plan or any Award, unless otherwise
expressly provided in the Plan or in any Award Agreement. Nothing in this Plan shall confer on any person any legal or equitable
right against the Company or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against
the Company or an Affiliate. Under no circumstances shall any person ceasing to be an employee of the Company or any Affiliate
be entitled to any compensation for any loss of any right or benefit under the Plan which such employee might otherwise have enjoyed
but for termination of employment, whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach
of contract or otherwise. By participating in the Plan, each Participant shall be deemed to have accepted all the conditions of
the Plan and the terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby.

 

    	 	-10-	 

    

    

 

(g)          Governing
Law. The internal law, and not the law of conflicts, of the State of Delaware shall govern all questions concerning the validity,
construction and effect of the Plan or any Award, and any rules and regulations relating to the Plan or any Award.

 

(h)          Severability.
If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction
or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or
deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of
the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such
jurisdiction or Award, and the remainder of the Plan or any such Award shall remain in full force and effect.

 

(i)          No
Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any
kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other person. To the extent that
any person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no
greater than the right of any unsecured general creditor of the Company or any Affiliate.

 

(j)          Other
Benefits. No compensation or benefit awarded to or realized by any Participant under the Plan shall be included for the purpose
of computing such Participant’s compensation or benefits under any pension, retirement, savings, profit sharing, group insurance,
disability, severance, termination pay, welfare or other benefit plan of the Company, unless required by law or otherwise provided
by such other plan.

 

(k)          No
Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine whether cash shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall
be canceled, terminated or otherwise eliminated.

 

(l)          Headings.
Headings are given to the sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall
not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

 

Section 10.         Effective
Date of the Plan

 

The Plan was adopted by the Board on October
31, 2016 and amended on August 21, 2017.

 

    	 	-11-	 

    

    

 

Section 11.         Term
of the Plan

 

No Award shall be granted under the Plan, and
the Plan shall terminate, on October 31, 2021 or any earlier date of discontinuation or termination established pursuant to Section 7(a)
of the Plan. Unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted
may extend beyond such dates, and the authority of the Committee provided for hereunder with respect to the Plan and any Awards,
and the authority of the Board to amend the Plan, shall extend beyond the termination of the Plan.

 

    	 	-12-Exhibit 10.35

 

SUBLEASE AGREEMENT

 

THIS SUBLEASE AGREEMENT (this “Agreement”)
is made on March 17, 2017, by AntriaBio, Inc., a Delaware corporation (the “Sublandlord”) whose address is 1450
Infinite Drive, Louisville, Colorado 80027 and Elion, LLC, a Colorado limited liability company (the “Subtenant”)
whose address is 1450 Infinite Drive, Louisville, Colorado 80027:

 

RECITALS

 

		A.	WHEREAS 1450 INFINITE DRIVE, LLC (the “Landlord”), as landlord, and Sublandlord,
as tenant, have entered into a Lease dated as of May 5, 2014 (the “Lease”) with regard to certain premises consisting
of approximately 27,261 rentable square feet (the “Premises”) in the building located at 1450 Infinite Drive,
Louisville, Colorado 80027 (the “Building”); and

 

		B.	WHEREAS Sublandlord wishes to sublease to Subtenant, and Subtenant wishes to sublease from Sublandlord
a portion of the Premises as depicted on Exhibit A to this Agreement which is incorporated into this Agreement and made a part
hereof for all purposes whatsoever, consisting of approximately 10,364 Rentable Square Feet (“RSF”) of office space,
7,948 RSF of which is identified as Space C-1 and 2,416 RSF of which is identified as C-2 (all of which shall constitute the “Sublease
Premises”), on the terms and conditions set forth below; and

 

		C.	WHEREAS Pursuant to the Lease, Landlord has consented to the sublease of a part of the Premises
by Sublandlord to Subtenant;

 

		D.	NOW THEREFORE, in consideration of the mutual covenants and promises contained herein which the
parties hereto agree constitutes good, valuable and sufficient consideration, the Sublandlord and Subtenant hereby agree as follows:

 

		1.	Effectiveness. This Agreement will be effective on the latest of the following, if ever
(the “Effective Date”) that, (a) this Agreement is executed on behalf of both Sublandlord and Subtenant, and
(b) a mutually agreeable sublease for approximately 20,991 RSF of the Premises from Subtenant to Sublandlord for use as office
and warehouse space is executed on behalf of both Subtenant and Sublandlord (the “Additional Sublease”), and
(c) the date on which an effective consent of the Landlord, if required by Subtenant’s lease of its premises in the Building,
to the Additional Sublease is executed by Landlord. It is understood and agreed that Subtenant and Sublandlord may not take possession
of the premises which are the subject of this Agreement or the Additional Sublease, respectively, until some time after the Effective
Date, however this Agreement shall be otherwise in full force and effect as of the Effective Date, including, without limitation,
the provisions regarding payment of Rent (as hereinafter defined) notwithstanding the deferral of possession of the applicable
premises. Subtenant and Sublandlord shall reasonably cooperate with each other in accomplishing taking possession of their respective
premises, each at their own respective cost and expense.

 

     

     

    

  

		2.	Sublease. Subject to and upon the terms, provisions, and conditions of this Agreement and
to the terms, provisions and conditions of the Lease as any of the same may apply to this Agreement, Sublandlord hereby sublets
to Subtenant and Subtenant hereby sublets from Sublandlord, the Sublease Premises. Sublandlord agrees not to voluntarily terminate
the Lease except pursuant to a right of termination arising out of casualty or condemnation as expressly set forth in the Lease
or amend or modify the Lease in any way that increases Subtenant’s obligations under this Agreement or adversely affects
Subtenant’s rights hereunder. Subtenant will be entitled to quiet enjoyment of the Sublease Premises during the Sublease
Term, and except as provided for herein, Sublandlord will not interfere with that right so long as Subtenant pays Rent in a timely
manner as provided for herein and performs all other obligations of Subtenant under this Agreement. Provided however, that Subtenant
agrees that Landlord, and its agents shall have the right to enter upon the Sublease Premises as otherwise provided for in the
Lease.

 

		3.	Sublease Term. The term of this Agreement will begin on the Effective Date, and will end
on January 31, 2024 inclusive. This Sublease may terminate May 31, 2020 if and only if the Sublandlord is unable to extend the
Sublandlord’s existing lease with the Landlord to January 31, 2024 or a later date or if so extended, in the event Sublandlord
and Subtenant are unable to agree before April 1, 2018 on the amounts of Base Sublease Rent for the period June 1, 2020 to January
31, 2024 as provided in Section 5 (a) below. Subtenant will not be responsible for any type of penalty if such termination occurs.

 

		4.	Use. Subtenant will use and occupy the Sublease Premises during the Sublease Term for
                                                                       general office use and for such uses are as provided for in the Lease and for no other purpose whatsoever. Subtenant will, at
                                                                       Subtenant’s sole cost and expense, comply with all applicable federal, state and local laws, ordinances, rules and
                                                                       regulations, court orders, governmental directives and governmental orders (collectively the “Laws”)
                                                                       relating to, affecting or arising out of Subtenant’s use and occupancy of the Sublease Premises. As a material
                                                                       inducement of Sublandlord to enter into this Agreement, Subtenant expressly acknowledges and agrees that under no
                                                                       circumstances shall Subtenant use the Sublease Premises for any other use than as set forth in this Section 4, and that
                                                                       Subtenant’s failure to comply with this requirement shall be deemed a breach of a substantial obligation of this
                                                                       Agreement on the part of Subtenant.

 

     

     

    

 

		5.	Rent. 

 

		(a)	Base Sublease Rent. During the Sublease Term, Subtenant will pay Sublandlord as rent for
the Sublease Premises (the “Base Sublease Rent”), as follows:

 

	March 1, 2017 to February 28, 2018	$	14.50 psf NNN per annum
	March 1, 2018 to February 28, 2019	$	15.00 psf NNN per annum
	March 1, 2019 to February 29, 2020	$	15.50 psf NNN per annum
	March 1, 2020 to May 31, 2020	$	16.00 psf NNN per annum
	June 1, 2020 to January 31, 2024	 	To Be Determined 

 

Base rental rates for June 1,
2020 to January 31, 2024 to be determined after Sublandlord negotiates a renewal for the office portion of the Lease with the Landlord.
After such renewal is executed, Sublandlord shall create an amendment to this Sublease Agreement stating base rental rates as the
lesser of i) the negotiated renewal base rental rate with Landlord, with annual escalations or ii) $20.00 psf NNN, with annual
escalations with no further negotiation or agreement needed by Subtenant. If the base rental rate as negotiated with Landlord is
higher than $20.00 psf NNN, and the Sublandlord desires for the Subtenant to poay the higher rate, then the amendment of the Sublease
Agreement must be agreed upon by both Subtenant and Sublandlord. In the event the parties are unable to reach an agreement on such
rates before April 1, 2018, this Agreement shall terminate as of May 31, 2020.

 

For purposes of this Agreement,
annual Base Sublease Rent shall be computed by multiplying the number of Rentable Square Feet within the Sublease Premises by the
rate psf as shown above for each year of the term of this Agreement. Accordingly, for clarity, the parties agree that the Base
Sublease Rent for the first year of this Agreement is One Hundred Fifty Thousand Two Hundred Seventy-Eight and 00/ths U.S. Dollars
to be adjusted for each succeeding year of this Agreement thereafter.

 

		(b)	Additional Sublease Rent. To the extent Sublandlord is obligated to pay additional rent
under the Lease for operating expenses, taxes, utilities, CAM Costs (as defined in the Lease) or other charges related to Landlord’s
operation of the Building (the “Operating Expenses”), Subtenant will pay to Sublandlord Subtenant’s proportionate
share of the Operating Expenses due under the Lease (the “Additional Sublease Rent”). For the purposes of this
Agreement, the Subtenant’s proportionate share of the Operating Expenses will be determined by multiplying the Operating
Expenses by a fraction, the numerator of which is the number of rentable square feet of the Sublease Premises and the denominator
of which is the total number of rentable square feet of the Premises. For clarity, as of the Effective Date, the Subtenant’s
proportionate share is Thirty-eight and 0/10ths percent (38.0%). Any other costs, expenses, or charges payable by Subtenant to
Sublandlord under this Agreement shall also be a part of Additional Sublease Rent for all purposes under this Agreement. During
the Sublease Term, but not more than once in a calendar year, Subtenant may, at its sole cost and expense, examine the books and
records of Sublandlord relating to Operating Expenses for the Sublease Premises and the Premises, which examination will be conducted
subject to the terms and conditions of the Lease. Subtenant will also promptly pay all costs and expenses incurred by Sublandlord
in connection with any such examination as Additional Sublease Rent. In the event as a result of such examination, it is determined
by Subtenant, and agreed to by Sublandlord, that Subtenant has paid an excess of its share of the Operating Expenses, Sublandlord
shall promptly refund the amount of such overpayment to Subtenant. Conversely, in the event as a result of such examination, it
is determined by Subtenant, and agreed to by Sublandlord, that Subtenant has underpaid a loss of its share of the Operating Expenses,
Subtenant shall promptly pay the amount of such underpayment to Sublandlord.

 

     

     

    

  

		(c)	Payment of Rent. Base Sublease Rent and Additional Sublease Rent (collectively the “Rent”)
is payable in advance in equal monthly installments (the amount of monthly Rent so payable to be determined for each year by dividing
the then annual Base Sublease Rent by twelve (12) in advance and by dividing the then known Additional Sublease Rent by twelve
(12) and adding the two resulting quotients together) on the first calendar day of each month during the Sublease Term, except
that the first installment of Rent will be paid by Subtenant to Sublandlord upon execution of this Agreement on behalf of Subtenant.
To the extent that the Sublandlord’s share of the costs for Operating Expenses is modified during any year of the Sublease
Term, the amount of monthly Rent payable by Subtenant shall be adjusted to take such modification into account. All Rent will be
paid without notice, demand, set-off or deduction, in lawful money of the United States of America, at the address of Sublandlord
for notices set forth below or at such other place as Sublandlord may from time to time designate in writing. If the Sublease Term
begins on other than the first calendar day of a month (i.e.the Effective Date), Rent will be prorated on a per diem basis. If
during the Sublease Term, Subtenant shall fail to pay Rent within seven (7) business days of when the Rent shall be due and payable,
Subtenant shall pay to Sublandlord as liquidated damages for such late payment, without notice or demand by Sublandlord, a sum
equal to ten percent (10%) per annum on the amount of Rent then due compounding monthly from the due date until paid in full and
a $100.00 USD administrative charge. Subtenant and Sublandlord agree that such sums of liquidated damages are fair and reasonable
due to the uncertainty of calculating actual damages. Provided further, however, that nothing contained in this Section 5 (c) shall
be deemed or construed to be a limitation of or in substitution of Sublandlord’s other rights and remedies as provided under
this Agreement, and Sublandlord shall have the right to apply any monies received from Subtenant first to any deficiency in the
payment of liquidated damages and any excess thereof to any item of Rent, or any other charge, as Sublandlord may determine. Notwithstanding
any other provision hereof to the contrary, Subtenant’s liability for Rents accruing during the Sublease Term and Sublandlord’s
obligation to refund overpayment of Rents paid to it by Subtenant shall survive the expiration or sooner termination of this Agreement.

 

     

     

    

 

		(d)	Additional Fees and Expenses. Notwithstanding any provision of this Agreement to the contrary,
Subtenant will be responsible for the payment of all charges, fees and expenses imposed under the Lease for any special purposes
relating to Subtenant’s use of the Sublease Premises, including, without limitation, any fees or charges for any disproportionate
use of utility services or any after-hours or extra services provided to the Sublease Premises, any charges for any repairs performed
by Landlord or Sublandlord to or for the Sublease Premises, which fees or charges are not included as an Operating Expense under
the Lease, and any and all similar charges. Subtenant will pay any such costs, fees or charges within ten (10) business days after
written demand for the same (i) to Landlord if Landlord bills Subtenant directly for such services, or (ii) to Sublandlord if Sublandlord
bills Subtenant for such services provided to Subtenant.

 

		(e)	Personal Property and Telecommunications, Internet Services. The Sublandlord and Subtenant
agree that Subtenant shall be entitled to use the personal property of Sublandlord located within the Sublease Premises (the “Personal
Property”) during the Sublease Term without any charge for the use thereof. In the event Subtenant desires that any such
Personal Property be removed from the Sublease Premises during the Sublease Term, it shall notify Sublandlord of the same and the
Subtenant may then remove the same at Subtenant’s sole cost and expense, unless the parties shall agree otherwise. Subtenant
shall arrange for and be responsible for and shall pay as required by all providers of telecommunication and Internet services
(the “Communication Services”) for all such Communication Services provided to the Sublease Premises, inasmuch
as Sublandlord has no obligation to provide such services to the Sublease Premises.

 

		6.	Security Deposit. Contemporaneously with the execution of this Agreement, Subtenant will
pay to Sublandlord the sum of two month’s Base Sublease Rent (i.e.$25,046.33) (the “Security Deposit”),
which will be held by Sublandlord to secure Subtenant’s performance of its obligations under this Agreement. The Security
Deposit is not an advance payment of Rent or a measure or limit of Sublandlord’s damages or other rights under this Agreement
or a payment of liquidated damages. Sublandlord may, from time to time and without prejudice to any other remedy, use all or a
part of the Security Deposit to perform any obligation that Subtenant fails to perform hereunder on or before the expiration of
the applicable notice and cure period, if any. Following any such application of the Security Deposit, Subtenant will pay to Sublandlord,
on demand, the amount so applied in order to restore the Security Deposit to its original amount. Provided that Subtenant has performed
all of its obligations hereunder, Sublandlord will, within sixty (60) business days after the end of the Sublease Term, return
to Subtenant the portion of the Security Deposit that was not applied to satisfy Subtenant’s obligations hereunder. The Security
Deposit may be commingled with other funds of Sublandlord and no interest will be paid thereon. If Sublandlord transfers its interest
in the Sublease Premises and the transferee assumes Sublandlord’s obligations under this Agreement, then Sublandlord may
assign the Security Deposit to the transferee and the Sublandlord will thereafter have no further liability to Subtenant for the
return of the Security Deposit.

 

     

     

    

  

		7.	Acceptance of the Sublease Premises. Subtenant has inspected the Sublease Premises, the
Personal Property and the Building, and on the Effective Date, Subtenant will accept the Sublease Premises and the Personal Property
in their then current “AS IS” condition without further improvements by Sublandlord or Landlord. Subtenant acknowledges
that neither Sublandlord or its agents have made any representation or warranty as to the condition of the Sublease Premises and
the Personal Property or the suitability of the Sublease Premises and the Personal Property for the conduct of Subtenant’s
business, and that Sublandlord will not be obligated to make any alteration or improvements to the Sublease Premises or the Personal
Property on account of this Agreement.

 

		8.	Care of the Sublease Premises; Alterations. 

 

		(a)	Subtenants Care of the Sublease Premises. Subtenant will exercise all reasonable care in
Subtenant’s use of the Sublease Premises so as to avoid any deterioration in the condition thereof, reasonable wear and tear
excepted. Subtenant agrees not to draw more electricity than that which the feeders, risers, panels and other electricity supply
equipment serving the Sublease Premises are capable of safely supplying. Subtenant will immediately notify Sublandlord of any damage
to the Sublease Premises. All damage and injury to the Sublease Premises or the Building, or the fixtures, appurtenances, and equipment
therein, caused by Subtenant, its agents, contractors, employees, invitees or customers, will be repaired, restored, or replaced
by Subtenant, at Subtenant’s sole cost and expense, regardless of the cause of the same.

 

		(b)	Alterations. Subtenant will not make any alterations, additions, or improvements in or to
the Sublease Premises in excess of $1,000.00 without the prior written consent of Sublandlord in each instance, which consent may
be withheld or conditioned in Sublandlord’s sole discretion, or the consent of the Landlord as required and specifically
provided for in the Lease.

 

     

     

    

 

		(c)	Sublandlord’s Property. All fixtures and improvements existing in the Sublease Premises
as of the Effective Date will be and remain the property of the Sublandlord or Landlord, as their interests may appear, and unless
otherwise agreed in writing by Sublandlord, will not be removed by Subtenant and will, upon the expiration or earlier termination
of this Agreement, remain a part of the Premises and the property of Sublandlord or Landlord as their interests may appear. Unless
Sublandlord, or Landlord, as appropriate, have advised Subtenant in writing that any improvements, alterations, additions or fixtures
must be removed at the end of the Sublease Term or earlier termination thereof, all improvements, alterations, additions or fixtures
permanent in nature made in the Sublease Premises by Subtenant or Sublandlord or Landlord will immediately become Sublandlord’s
or Landlord’s property as their interests may appear and will remain on the Sublease Premises without compensation to Subtenant.
If Sublandlord, or Landlord has, as a condition to approving any improvements, alterations, additions or fixtures that are made
upon the Sublease Premises by Subtenant that Subtenant on, or before, expiration or earlier termination of this Agreement, be required
to remove all such improvements, alterations, additions or fixtures, Subtenant shall do so at Subtenant’s sole cost and expense.
Upon the expiration of the Sublease Term or earlier termination of this Agreement, nothing in this Section 8 (c) shall prohibit
Subtenant from removing its personal property from the Sublease Premises at such time and Subtenant shall cause such removal at,
or before, such time, at Subtenant’s sole cost and expense.

 

		9.	Services. According to the Lease, the Landlord is not required to furnish any utilities
to the Premises (including, without limitation, heat, air conditioning, hot and cold water, gas, electricity, oil, steam, sewer
rent or other charges) (the “Services”) and the Subtenant is solely responsible for obtaining and providing
the same, including hot water. However, in the event the Services are provided through facilities of Landlord located in the Building,
Subtenant shall pay Sublandlord as Additional Sublease Rent for Subtenant’s proportionate share (determined as Subtenant’s
proportionate share of Operating Expenses are determined in Section 5 (b) hereof) of the Services so provided to the Sublease Premises
for which the Sublandlord is being charged, either by the Landlord or directly by the provider of such Services. Accordingly, Sublandlord
shall not have any obligation to provide any of the Services to Subtenant under this Agreement, it being Subtenant’s responsibility
to obtain the Services at Subtenant’s sole cost and expense, even if the Services are obtained from Landlord or Sublandlord
as a result of the operation of the Premises. Sublandlord will in no event be liable to Subtenant for Sublandlord’s failure
to provide the Services nor will any such failure be deemed or construed as a breach hereof by Sublandlord or an eviction of Subtenant,
or entitle Subtenant to an abatement of any of the Rent due under this Agreement, except if such failure is a result of the gross
negligence or willful misconduct on the part of Sublandlord. Subtenant shall not during the term of this Agreement impede the free
access to Landlord’s mechanical installations or interfere with the moving of Landlord’s equipment to and from any
enclosures containing such installations or equipment and shall not at any time enter these enclosures, or tamper with, adjust
or otherwise in any manner affect these mechanical installations or equipment.

 

     

     

    

 

		10.	Access to Sublease Premises. Upon 24 hours advance notice to Subtenant (and without notice
in the event of an emergency), Sublandlord will have the right to enter the Sublease Premises, including during business hours,
to examine and inspect it; provided such entry will not unreasonably interfere with Subtenant’s use of the Sublease Premises
for the purposes described in Section 4 above. Sublandlord will have the right to require the removal of any object or material
that Sublandlord, in its sole discretion, deems hazardous to the safety or operation of the Sublease Premises or the Building,
or to be in violation of this Agreement. Furthermore, Landlord will have access to the Sublease Premises as provided for in the
Lease.

 

		11.	Parking. Inasmuch as both Sublandlord and Subtenant have direct leases with the Landlord
for space in the Building which direct leases contain provisions, terms and conditions regarding a license for parking spaces upon
the land upon which the Building is also located, there is no need for further provisions in this Agreement for parking matters
related to the Sublease Premises.

 

		12.	Insurance.

 

Subtenant’s and Sublandlord’s
Insurance. During the Sublease Term, or until Subtenant has relinquished possession of the Sublease Premises if thereafter,
Subtenant agrees that all property of Subtenant kept or stored in the Sublease Premises will be at the sole risk of Subtenant and
that Sublandlord and Landlord will not be liable for any injury or damage to such property. At its sole option, Subtenant may procure
and maintain in full force and effect, at Subtenant’s sole cost and expense, all such insurance policies as Subtenant deems
advisable to insure against all such risks and the risks that are the subject of the indemnification provisions contained in Section
18, below. Sublandlord covenants and agrees that during the Sublease Term it shall procure and maintain all insurance coverages
covering the Premises (including the Sublease Premises) required of it as “tenant” under the Lease and will name the
Subtenant and Landlord and additional parties as required under the Lease, as an additional insured on any commercial general liability
policies so maintained.

 

		13.	Repairs. Subtenant agrees that during the Sublease Term it shall repair, maintain and take
good care of the Sublease Premises, and will comply with all repair, maintenance, care and other related requirements imposed on
Sublandlord under the Lease at Subtenant’s sole cost and expense with respect to that portion of the Premises that constitute
the Sublease Premises. In the event the Landlord under the Lease undertakes repairs to the Sublease Premises according to the Lease,
Sublandlord will in no event be liable to Subtenant for any failure to perform any repairs, maintenance or the like by Landlord
nor will any such failure be construed as a breach hereof by Sublandlord or an eviction of Subtenant or entitle Subtenant to an
abatement of any Rent due under this Agreement, except to the extent that Sublandlord is entitled to any of the same under the
Lease.

 

     

     

    

 

		14.	Lease. This Agreement is subject and subordinate to the Lease. Except as otherwise provided
for herein, all of the terms, provisions, covenants and conditions of the Lease will be applicable to this Agreement as if Sublandlord
were the “Landlord” under the Lease and Subtenant were the “Tenant” under the Lease. The following additional
provisions relate to the relationship between the Lease and this Agreement:

 

		(a)	Subtenant’s Use. Subtenant’s use and occupancy of the Sublease Premises and
the common areas of the Building will be at all times consistent with all of the terms and provisions of the Lease and Subtenant
will indemnify and hold Sublandlord harmless against any and all claims of liability to Landlord and others resulting from any
failure by Subtenant to abide by the restrictions, conditions, and requirements of the Lease relating to the use and occupancy
of the Sublease Premises and other areas of the Building.

 

		(b)	Subtenant’s Default. In the event of a default by Subtenant under this Agreement,
Subtenant agrees that the remedies of Sublandlord with respect to Subtenant will be the same as those of Landlord with respect
to Sublandlord, as “Tenant” under the Lease.

 

		(c)	Lease Termination. If the Lease is terminated for any reason, this Agreement, if not sooner
terminated hereunder, will automatically terminate on the effective date of termination of the Lease and Sublandlord will not be
liable to Subtenant or any other person for any loss, damage or expense resulting therefrom unless such termination was due to
a default by Sublandlord under the Lease; provided however, if the Lease gives the Sublandlord any right to terminate the Lease
in the event of partial or total damage, destruction, or condemnation, then the exercise of such right by Sublandlord will not
constitute a default or breach by Sublandlord under this Agreement. If such termination of the Lease results from the fault of
Subtenant, Sublandlord will be entitled to recover from Subtenant and Subtenant will pay, in addition to all other sums to which
Sublandlord may be entitled under this Agreement, any expenditures or obligations for the payment of money (including reasonable
attorneys’ fees and costs) suffered or incurred by Sublandlord as a result of such termination.

 

		(d)	Consents. Whenever the provisions of the Lease require the written consent of the Landlord,
those provisions will be deemed and construed to require the written consent of both Sublandlord and Landlord and any failure of
Subtenant to obtain Sublandlord’s consent as required under this Agreement will render Landlord’s consent null and
void.

 

		(e)	Copy of Lease. Subtenant represents that it has received a copy of the Lease and is familiar
with the terms of the Lease as the same may apply to this Agreement and the Sublease Premises and understands Subtenant’s
obligations as set forth in the Lease. A copy of the Lease is attached hereto as Exhibit B which is incorporated herein and made
a part hereof for all purposes.

 

		(f)	No obligations of Sublandlord. No covenants or obligations of Landlord under the Lease will
be deemed to be covenants or obligations of Sublandlord under this Agreement.

 

		(g)	Sublandlord’s Representations. Sublandlord represents to Subtenant as follows:

 

     

     

    

 

		(1)	the copy of the Lease attached as Exhibit B hereto is a true and complete copy of the Lease;

		(2)	the Sublandlord is the tenant under the Lease;

		(3)	the term of the Lease commenced on May 5, 2014 and will expire, if not extended, approximately
Seventy-two (72) months thereafter;

		(4)	The Lease is in full force and effect;

		(5)	To the best of Sublandlord’s knowledge, Sublandlord is not in default under the Lease; and

		(6)	Sublandlord has not received any notice of default under the Lease;

 

		15.	No Assignment or Subletting. Without the prior written consent of the Sublandlord and Landlord
which shall not be unreasonably withheld, conditioned, or delayed, Subtenant may not assign, convey, mortgage, hypothecate or encumber
this Agreement or any interest herein or sub-lease all or any part of the Sublease Premises, or suffer or permit the Sublease Premises
or any part thereof to be used by others, including its successor in any corporate change of control transaction (any and all of
which will be referred to as a “Transfer”). Any attempted Transfer in contravention of this Section 15 will be void,
ab initio. and will confer no rights upon any third party. In attempting to obtain the consent of Sublandlord and Landlord
to any such Transfer, Subtenant will comply with all of the requirements contained in the Lease regarding an attempt by Sublandlord
to obtain the Landlord’s consent to such a Transfer.

 

		16.	Surrender; Holding Over. Upon the expiration or earlier termination of this Agreement, Subtenant
will surrender possession of the Sublease Premises (including any cabling installed by Subtenant) and Personal Property to Sublandlord,
in the same condition as the Sublease Premises and Personal Property were in on the day Sublandlord delivered possession to Subtenant,
reasonable wear and tear excepted. Provided however, if Subtenant has made any alterations or modification to the Sublease Space
and has obtained all necessary consents thereto, then the space as altered or modified need not be surrendered in the same condition
as existed on the day Sublandlord delivered possession to Subtenant, with an exception for reasonable wear and tear thereto. If
Subtenant holds over after the expiration of the Sublease Term by lapse of time, with Sublandlord’s consent but without any
written agreement providing otherwise, the Subtenant will be deemed to be a subtenant from month to month, at a monthly rent equal
to Two Hundred percent (200%) of the fixed annual Base Sublease Rent at the time of the final year of the Sublease Term, prorated
monthly and subject to all of the other provisions and conditions of this Agreement. Nothing in this provision will be deemed or
construed to require Sublandlord to permit Subtenant to occupy the Sublease Premises for any period after the end of the Sublease
Term, or, if Sublandlord has permitted Subtenant to occupy the Sublease Premises for any period as a subtenant from month to month,
to prevent Sublandlord from terminating such subtenancy at the end of any month. If Subtenant holds over after the expiration of
the Sublease Term by lapse of time, without Sublandlord’s written consent, Subtenant will be guilty of an unlawful detention
of the Sublease Premises and will be liable to Sublandlord for damages for use of the Sublease Premises during the period of such
unlawful detention and will pay Rent equal to Two Hundred percent (200%) of the fixed annual Base Sublease Rent at the time of
the final year of the Sublease Term prorated monthly, plus any and all consequential damages suffered by Sublandlord, including,
without limitation, damages payable by Sublandlord to Landlord by reason of Subtenant’s holdover. In the event of such holding
over, Subtenant will indemnify and hold Sublandlord harmless from and against any and all claims, suits, proceedings, losses, damages,
liabilities, costs and expenses, including, without limitation, reasonable attorneys’ fees, costs and disbursements, asserted
against or incurred by Sublandlord as a result of such unapproved holding over. Notwithstanding the foregoing, Sublandlord will
be entitled to all other remedies and damages provided under this Agreement or at law or in equity.

 

     

     

    

  

		17.	Termination of Agreement.

 

		a.	Sublandlord, at its sole option, may terminate this Agreement if (i) Subtenant or its agents, employees,
or any other person entering the Sublease Premises under the express or implied invitation of Subtenant, causes material physical
damage to the Sublease Premises or the Building (including that portion of the Premises not included in the Sublease Premises)
and fails to promptly repair the damaged areas to their pre-existing condition or (ii) Subtenant defaults in any way under this
Agreement unless Subtenant is granted a right to cure such default, but then only to the extent of the right to cure so granted.

 

		b.	Subtenant at its sole option, may terminate this Agreement if (i) the Sublease Agreement Dated
March ___, 2017 by Elion, LLC (as Sublandlord) and AntriaBio, Inc. (as Subtenant) is terminated or (ii) a payment default by AntriaBio,
Inc. occurs under such sublease and continues for more than [30] days after any applicable cure period under such sublease has
expired or (iii) if Sublandlord is unable to secure a renewal or new lease with Landlord for the Sublease Premises for a term extending
until January 31, 2024 or later. Sublandlord has until April 1, 2018 to secure such renewal or new lease agreement. In the event
such renewal or new lease agreement is not effective as of April 1, 2018, then in this event Subtenant has the right to terminate
this Agreement as provided for herein, upon ninety (90) days prior written notice. Furthermore, if Sublandlord and Subtenant are
unable to reach an agreement on the amounts of Base Sublease Rent for the periods June 1, 2020 to January 31, 2024, this Agreement
shall terminate on May 31, 2020. In the event of any of the foregoing described terminations, except as described in Section 17
a., above, Sublandlord shall repay Subtenant the sum of the unamortized real estate brokerage commissions.

 

     

     

    

 

		18.	Indemnification and Waiver. Subtenant hereby assumes all risk of damage to property or injury
to persons in, upon or about the Sublease Premises from any cause whatsoever and agrees that Sublandlord, its affiliates, shareholders,
officers and employees (the “Sublandlord Parties”) and/or Landlord, its affiliates, members, officers, and employees
(the “Landlord Parties) will not be liable for, and are hereby released from any responsibility for, any damage either
to person or property or resulting from the loss of use thereof, which damage is sustained by Subtenant or by other persons or
entities claiming through Subtenant, or Sublandlord or the Landlord or by other persons or entities claiming through Landlord or
Sublandlord Subtenant will indemnify and defend the Sublandlord Parties and Landlord Parties and hold the Sublandlord Parties and
Landlord Parties harmless from and against any and all third party claims, losses, costs, actions, damages, liability, obligation,
and expense (including, without limitation, court costs, reasonable attorneys’ fees, and other costs of litigation) incurred
by or asserted against any of the Sublandlord Parties or Landlord Parties arising from (i) any occurrence in or at the Sublease
Premises, (ii) any act, omission, conduct or negligence in or about the Building by Subtenant or its affiliates, members, directors,
officers, agents, employees, contractors, or invitees or (iii) the failure of Subtenant to perform any act, obligation, or covenant
of Subtenant under this Agreement or of Sublandlord under the Lease that Subtenant is obligated to Perform under this Agreement.
Notwithstanding the foregoing, the Subtenant will not be required to indemnify and hold harmless the Sublandlord and the Sublandlord
Parties and/or the Landlord and the Landlord Parties to the extent that the matters which would cause this obligation arise are
caused by the gross negligence or willful misconduct of Sublandlord or Sublandlord Parties or Landlord and Landlord Parties, respectively,
as such situation may arise. The obligations set forth in this Section 18 will survive the expiration or sooner termination of
this Agreement.

 

		19.	Right to Cure Other Party’s Default. 

 

		(a)	Default by Subtenant: In the event of a default by Subtenant under this Agreement, or an
event occurs which involves Subtenant or the Sublease Premises which would constitute a default under the Lease if it involved
Sublandlord or the Premises and Subtenant fails to cure such default or defect within the applicable notice and cure periods, if
any, Sublandlord may, but will not be obligated to, make any payment or undertake to perform such covenant or agreement constituting
such default. In such event, amounts so paid and amounts expended in undertaking such performance, together with all costs, expenses
and reasonable attorneys’ fees incurred by Sublandlord, will be Additional Sublease Rent under this Agreement payable as
provided for herein.

 

     

     

    

 

		(b)	Default by Sublandlord. In the event that Sublandlord defaults in the performance or observance
of any of Sublandlord’s obligations under this Agreement, then Subtenant will give Sublandlord written notice of Sublandlord’s
default. If such default will not be cured by Sublandlord within thirty (30) business days after the date of Subtenant’s
notice (except if such default cannot be cured within this thirty (30) business day period, this period will be extended for an
additional reasonable time, provided that Sublandlord commences to cure such default within such thirty (30) business day period
and proceeds diligently thereafter to effect such cure as quickly as possible), then Subtenant will be entitled to cure such default
and promptly collect from Sublandlord Subtenant’s reasonable expenses in so doing (including reasonable attorneys’
fees and costs). Subtenant will not be required, however, to wait the entire cure period described herein if earlier action is
required to comply with the Lease or any applicable law. Provided further that, in the event Sublandlord defaults in a manner that
would result in the Lease being terminated by the Landlord, the Subtenant may, if it so chooses, attempt to obtain the Landlord’s
consent that the Subtenant be recognized as the Tenant under the Lease leasing directly from the Landlord upon and with the existing
terms of this Agreement being recognized and upheld.

 

		20.	No Options. Except as provided for in this Agreement, Subtenant shall not have any option
or right to extend the sublease granted pursuant to this Agreement regardless of whether Sublandlord extends the term of the Lease
pursuant to the provisions and terms of the Lease.

 

		21.	Signage. Subtenant may install directory and suite entry identification signage, at Subtenant’s
sole cost and expense, provided such signage shall be subject to Landlord’s reasonable approval. In addition, with respect
to the Sublease Premises, Subtenant shall otherwise comply with the requirements of the Lease with respect to signage and other
related matters as contained in the Lease, as the same are applicable to Sublandlord and the Premises.

 

		22.	Limitation of Liability. Subtenant agrees that, with the exception of Sublandlord abd Landlord,
the Sublandlord Parties and Landlord Parties will have no personal liability under this Agreement for satisfaction of any claims
or damages, and no property or assets of the Sublandlord Parties or Landlord Parties will be subject to lien, levy, execution,
or other enforcement action or procedure.

 

		23.	Conflict. In the event of any conflict between this Agreement and the Lease with regard
to the specific subject matter contained herein, the Lease provisions will prevail.

 

		24.	Survival. The covenants, conditions, and agreements contained in this Agreement will bind
and inure to the benefit of Sublandlord and Subtenant and their respective successors and permitted assigns.

 

		25.	Consents and Approvals. In any instance when Sublandlord’s consent or approval is
required under this Agreement, Sublandlord’s refusal to consent or to approve any matter or thing will be deemed to be reasonable
if, among other things, Sublandlord has made a good faith effort to obtain Landlord’s consent or approval to such matter
or thing, if required, and such consent or approval was not obtained.

 

     

     

    

 

 

		26.	Headings; Interpretation. Descriptive headings are for convenience only and will not control
or affect the meaning or construction of any provision of this Agreement. Whenever the context of this Agreement requires, words
used in the singular will be construed to include the plural and vice versa.

 

		27.	Counterparts; Facsimile Signatures. For convenience of the parties, any number of counterparts
of this Agreement may be executed by the parties hereto and each such executed counterpart will be and will be deemed to be, an
original instrument. Electronic signatures will be accepted as originals.

 

		28.	Entire and Binding Sublease. This Agreement contains all of the agreements between Sublandlord
and Subtenant relating to the Sublease Premises and the Subtenant’s use and occupancy thereof, and may not be modified in
any manner other than by agreement, in writing, duly executed on behalf of Sublandlord and Subtenant.

 

		29.	Brokers. Sublandlord represents and warrants to the Subtenant that with respect to this
Agreement and transaction, Sublandlord has only engaged the services of real estate brokers whose fees are to be paid by Sublandlord
pursuant to separate agreements. Sublandlord agrees to defend, indemnify and hold harmless the Subtenant and Landlord from and
against any claim for broker’s or finder’s fees or commissions made by any party claiming to have dealt with the indemnified
party in connection with this Agreement or the transaction contemplated herein. The obligations of Sublandlord under this Section
29 will survive the expiration or earlier termination of this Agreement. Provided further, Subtenant will indemnify and hold Sublandlord
and Landlord harmless from and against any party claiming to have dealt with the Subtenant in connection with this Agreement or
the transaction contemplated herein. The obligations of the Subtenant under this Section 29 will survive the expiration or earlier
termination of this Agreement.

 

		30.	Attorneys’ Fees and Waiver of Jury Trial. In the event of any litigation, mediation
or arbitration between Sublandlord and Subtenant arising out of or relating to this Agreement or the Sublease Premises (including
pretrial, trial, appellate, administrative, bankruptcy or insolvency proceedings), the prevailing party will be awarded, as part
of the judgment or settlement, all reasonable attorneys’ fees, costs, court costs, and expenses incurred in connection with
such matter, except as may be limited by applicable law or as may be otherwise awarded by the tribunal involved in such matter.
IN THE INTEREST OF OBTAINING A SPEEDIER RESULT AND LESS COSTLY HEARING OF ANY DISPUTE RELATED TO, OR ARISING OUT OF, THIS AGREEMENT
OR THE SUBLEASE PREMISES, THE PARTIES HERETO EACH IRREVOCABLY WAIVE THE RIGHT TO A TRIAL BY JURY.

 

     

     

    

 

		31.	Notices; Business Day. Any notice or other communication under this Agreement shall be in
writing and shall be sent by United States express mail or by a nationally recognized overnight delivery service addressed to the
party for whom intended at 1450 Infinite Drive, Louisville, Colorado 80027 or to such other address as such intended party shall
have previously designated by proper notice to the other in the manner herein prescribed. Any such notice or communication shall
be deemed given and received when delivered or refused or when delivery is attempted on a business day. For all purposes under
this Agreement, a business day is deemed to be a day upon which national banks are open for business in the Denver metropolitan
area.

 

		32.	Applicable Law; Jurisdiction and Venue. This Agreement will be construed in accordance with
the laws of the State of Colorado. The parties hereto hereby irrevocably submit to the jurisdiction of the Boulder County Colorado
District Court over any suit, action or proceeding arising out of this Agreement

 

		33.	No privity of Estate or Contract. Nothing contained is this Agreement shall be construed
to create privity of estate or of contract between Landlord or Subtenant for the Sublease Premises, which does not otherwise exist
in law.

 

IN WITNESS WHEREOF, this Agreement
has been executed on behalf of the Sublandlord and Subtenant by their duly authorized officers on the dates set forth below.

 

	ELION, LLC	 
	A Colorado Limited Liability Company	 
	 	 	 
	By:	/s/ John Gavrielson	 
	 	John Gabrielson, President & CEO	 
	 	 	 
	Date: __March 17___, 2017	 
	 	 	 
	ANTRIABIO, INC.	 
	A Delaware corporation	 
	 	 	 
	By:	/s/ Nevan Elam	 
	 	Nevan Charles Elam, Chairman and CEO	 

 

Date: ___3/17/17___________________, 2017

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