Document:

14755 Preston Road, Suite 105

Dallas, Texas 75254

 

 

 

January 12, 2016

 

 

J. Brett Pope

6009 Kettering Ct

Dallas, TX 75248

 

 

Dear Brett:

 

This Letter Agreement
confirms our discussions, understanding, and agreement with respect to the termination of your employment with SWK Holdings Corporation
(the “Company”). As discussed, you will receive the package, set forth below, provided that you (1) continue to work
until the Termination Date; (2) submit your resignation effective on the Termination Date, and (3) sign a General Release (the
form of which is attached to this Letter Agreement at Exhibit A). This Letter Agreement sets forth the rights and obligations of
both you and the Company with respect to said termination, as follows:

1.                 
Termination of Employment.

Effective as of
January 12, 2016, (the “Termination Date”), your employment with the Company as Chief Executive Officer (“CEO”)
shall terminate. The Company agrees to accept your resignation from the position of CEO effective as of the Termination Date. Additionally,
the Company will accept your resignation from the Board of Directors of the Company (the “Board”), effective
as of the Termination Date. You do not claim nor shall you claim any further right to employment by the Company after the Termination
Date.

2.                 
Separation Package/Benefits.

(a)               
Stock Options. Pursuant to Section 5.6 of the SWK Holdings Corporation 2010 Equity Incentive Plan (“Plan”),
you may exercise no later than three (3) months after the Termination Date, the vested and unexercised stock options granted to
you on May 14, 2012. Although your stock option award requires you to make a cash payment upon exercise your vested options in
an amount equal to the exercise price of the option multiplied by the number of options being exercised, the Company has approved
a cashless exercise of your vested stock options, as permitted under Section 11 of the Plan. As a result, you will be able to exercise
your options without having to pay the cash amount of $155,625.00 you would have otherwise had to pay under the terms of the Plan
and of your award agreement under the Plan in order to exercise your options. This concession, made by the Company pursuant to
the discretion granted under the terms of the Plan, is made in consideration for the execution of this Agreement.

    

     

    

(b)              
Accrued Vacation Pay. Effective as of the Termination Date, the Company shall pay you (i) an aggregate amount of
Nine Thousand two hundred thirty dollars and seventy-seven cents ($9,230.77), less applicable withholding taxes,
with respect to your accrued and unused vacation earned through the Termination Date, and (ii) reimbursement for any unreimbursed
business expenses, not to exceed One Thousand Dollars ($1000.00) in the aggregate, that are properly submitted for review and approval
no later than January 31, 2016.

3.                 
Compensation and Wages.

You acknowledge and agree that, except
as specifically stated in this Letter Agreement, all wages, compensation, accrued vacation, personal leave time, and all other
compensation and benefits of any kind have been paid to or waived by you in full and no other sums of any kind are due by the Company
to you.

4.                 
Cooperation.

You agree, for a period of one
(1) year from the Termination Date (the “Cooperation Term”), to cooperate fully with the Company and its Board,
auditors, attorneys, insurance companies and agents concerning requests for information about the business of SWK Holdings Corporation
and/or your involvement and participation therein; the defense or prosecution of any claims or actions now in existence or which
may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while you
were employed by the Company; and in connection with any investigation or review by any federal, state or local regulatory, quasi-regulatory
or self-governing authority as any such investigation or review relates to events or occurrences relating to business matters or
other work-related issues that transpired while you were employed by the Company.

Your full cooperation shall include,
but not be limited to, being available to meet and speak with officers, Board members, or employees of the Company and/or its counsel
at reasonable times and locations, executing accurate and truthful documents and taking such other actions as may reasonably be
requested by the Company and/or its counsel to effectuate the foregoing.

5.                 
Non-solicitation covenant. You hereby expressly covenant and agree that for a period of two (2) years following the
Termination Date, you will not, without written consent of the Company, directly or indirectly contact, approach or solicit, for
the purpose of offering employment to or hiring (whether as an Executive, consultant, agent, independent contractor or otherwise)
or actually hire any Person who is or has been employed or retained by the Company within the final twelve months of your employment,
or induce or attempt to induce any current customer, supplier or other business relation of the Company or any former customer,
supplier or other business relation of the Company which did business with the Company during the final twelve months of your employment
into any business relationship which would harm the Company’s business. For the avoidance doubt, the term other business
relationship shall include any entity related to or associated with a proposed transaction that has been classified as an “A”
or “B”on the deal pipeline sheet prepared by management for presentation to the Investment Committee.

    

     

    

6.                 
Non-competition covenant. You hereby expressly covenant and agree that for a period of one (1) year following the
Termination Date, you will not, within or with respect to the restricted area of the United States and Canada, directly or indirectly
own, operate, lease, manage, control, participate in, consult with, advise, permit his name to be used by, provide services for,
raise capital for, or in any manner engage in any pharmaceutical or medical product financing business , including the monetization
of royalties on such products, in competition with the business of the Company. For the avoidance of doubt, you will not be prohibited
from proving temporary consulting or advisory to entities for which pharmaceutical or medical product financing business, including
the monetization of royalties on such products, is not a material part of their business.

7.                 
Acknowledgement of Reasonableness and Effectiveness of Restrictive Covenants.

(a)          You acknowledge that compliance
with the restrictive covenants contained herein is reasonable and necessary to protect the Company’s legitimate
business interests.

(b)         You acknowledge
that a breach of your obligations under this Letter Agreement will result in great, irreparable and continuing harm and damage
to the Company for which there is no adequate remedy at law.

(c)         You agree that in the event
that you breach this Letter Agreement, the Company shall be entitled to seek, from any court of competent jurisdiction, preliminary,
temporary, and permanent injunctive relief to enforce the terms of this Letter Agreement, in addition to any and all monetary damages
allowed by law, against you.

(d)          In the event
that you violate this non-solicitation covenant contained in Sections 5 and 6 of this Letter Agreement, you agree that the term
of such covenants shall be automatically extended for a period equal to the period during which you are in violation of such covenants.

8.                 
Confidentiality of this Letter Agreement; Return of Company Property. You will keep confidential and will not release
or divulge, either orally or in writing to any person, except as may be required by law or regulation or by order of any court,
this Letter Agreement or any provision hereof or any information with respect thereto; provided, that nothing contained
herein will prohibit you from disclosing the terms of this Letter Agreement to your attorneys, accountants, or financial advisors.
Additionally, you agree that, on or before January 12, 2016, you will return to the Company all records, files, equipment,
laptops, desk or file keys, office keys, cell phones, credit cards, computer programs or disks, or other Company property that
is in your possession, custody or control.

9.                 
Non-disparagement covenant. You hereby expressly covenant that you will not make any malicious, disparaging or false
remarks about SWK Holdings Corporation. You further agree not to disparage any of the Company’s past and present investors,
officers, directors and employees or any of its Affiliates. The Company agrees to instruct its investors, officers, directors and
employees holding the title of Vice-President, Managing Director or equivalent, not to disparage you.

    

     

    

10.             
Sufficiency of Consideration.

You acknowledge
and agree that the consideration provided hereunder by the Company is not required under its standard policies, and you know of
no other circumstances, other than your agreeing to the terms of this Letter Agreement, that would entitle you to receive such
consideration.

11.             
General Provisions.

(a)       
Withholding. The Company shall withhold from any amounts payable under this Letter Agreement such federal, state
and local taxes as may be required or permitted to be withheld pursuant to any applicable law or regulation.

(b)      
Entire Agreement. This Letter Agreement and Exhibit A attached hereto constitutes the sole and complete understanding
of you and the Company with respect to the subject matter hereof. You and the Company represent to each other that in executing
this Letter Agreement, you and the Company do not rely and have not relied upon any representation or statement not set forth herein
made by any other person with regard to the subject matter, basis or effect of this Letter Agreement.

(c)       
Amendment; Waiver; Successors. No amendment, modification or alteration of the terms and provisions of this Letter
Agreement shall be binding unless the same shall be in writing and duly executed by you and the Company. No waiver of any of the
provisions of this Letter Agreement shall be deemed to or shall constitute a waiver of any other provision hereof. No delay on
the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof. This Letter
Agreement shall be binding upon the parties hereto and their respective heirs, successors, trustees, administrators, transferees
and assigns.

(d)      
Governing Law and Venue. All questions concerning the construction, validity and interpretation of this Letter Agreement
and the exhibits hereto will be governed by and construed in accordance with the domestic laws of the State of Texas, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the State of Texas. Any lawsuit arising out of or in any
way related to this Agreement to the parties’ relationship hereunder shall be brought only in those state courts or federal
courts having jurisdiction over actions arising in Dallas County in the State of Texas and the United States District Court for
the Northern District of Texas.

(e)       
In the event that any one or more of the provisions of this Letter Agreement is held to be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. You
and the Company agree that the covenants contained in Sections 5 and 6 are reasonable covenants under the circumstances, and further
agree that if, in the opinion of any court of competent jurisdiction such covenants are not reasonable in any respect, such court
shall have the right, power and authority to excise or modify such provision or provisions of these covenants as to the court shall
appear not reasonable and enforce the remainder of these covenants as so amended.

    

     

    

(f)             Non-Admission.
Nothing contained in this Letter Agreement shall be deemed or construed as an admission of wrongdoing or liability on the
part of the Company.

(g)           
Non-Waiver. A failure of either you to insist on strict compliance with any provision of this Letter Agreement shall
not be deemed a waiver of such provision or any other provision hereof.

(h)           
Headings. The headings of the sections contained in this Letter Agreement are for convenience of reference only and
shall not be deemed to control or affect the meaning or construction of any provision of this Letter Agreement.

(i)             
Counterparts. This Letter Agreement may be executed by one or more of the parties hereto on any number of separate
counterparts and all such counterparts shall be deemed to be one and the same instrument. Each party hereto confirms that any facsimile
copy of such party's executed counterpart of this Letter Agreement (or its signature page thereof) shall be deemed to be an executed
original thereof.

(j)             
Legal Advice, Reliance. You agree that you have had a full and fair opportunity to review this Letter Agreement,
and to discuss this Letter Agreement with an attorney of your own choosing prior to signing it, and you sign it knowingly, voluntarily,
and without duress or coercion. Further, in executing this Letter Agreement, you agree that you have not relied on any representation
or statement not set forth in this Letter Agreement.

(k)           
Section 409A. This Letter Agreement is intended to meet or be exempt from the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”). Specifically, each payment under this Letter Agreement is intended to
be excepted from Section 409A of the Code, including, but not limited to, by compliance with the short-term deferral exception
as specified in Treasury Regulation § 1.409A-1(b)(4), or in compliance with Section 409A of the Code, including, but not limited
to, being paid pursuant to a fixed schedule or specified date pursuant to Treasury Regulation § 1.409A-3(i)(1)(v), and the
provisions of this Letter Agreement will be administered, interpreted and construed accordingly. For purposes of this Letter Agreement,
“termination of employment” means a “Separation from Service” under Treasury Regulation Section 1.409A-1(h).
Notwithstanding any other provision of this Letter Agreement, to the extent that the right to any payment (including the provision
of benefits) hereunder provides for the “deferral of compensation” within the meaning of Section 409A(d)(1) of the
Code, the payment shall be paid in accordance with the following: (a) if you are “Specified Employee” within the meaning
of Section 409A(a)(2)(B)(i) of the Code on the date of “Separation from Service” within the meaning of Section 409A(a)(2)(A)(i)
of the Code, then no such payment shall be made or commence during the period beginning on the date of your Separation from Service
and ending on the date that is six months following your Separation from Service or, if earlier, on the date of your death. The
amount of any payment that would otherwise be paid to you during this period shall instead be paid on the fifteenth day of the
first calendar month following the end of the six-month period; and (b) payments with respect to reimbursements of expenses shall
be made in accordance with Company policy and in no event later than the last day of the calendar year following the calendar year
in which the relevant expense is incurred.

    

     

    

If this Letter Agreement correctly sets
forth your understanding of our agreement with respect to the foregoing matters, please so indicate by signing below on the line
provided for your signature.

 

	 	Very truly yours,
	 	 
	 	SWK Holdings Corporation
	 	 
	 	 
	 	By: /s/ Winston L. Black         
	 	Name: Winston Black
	 	Title: Managing Director

 

Acknowledged and agreed

as of the first date written above:

 

/s/ J. Brett Pope         

J. Brett Pope

 

    	 

     

    

EXHIBIT A

General Release

(1)      Pursuant
to and for the consideration set forth in that certain Letter Agreement dated January 12, 2016, I, J. Brett Pope, hereby fully
waive and release, on behalf of myself, my heirs, executors, attorneys, administrators, agents, representatives, trustees, administrators,
successors and assigns, any and all claims, demands, causes of action, damages, losses and expenses I may have against SWK Holdings
Corporation (“SWK Holdings” or “the Company”), its affiliates and subsidiaries, and all of their respective
directors, officers, members, agents, employees, attorneys, accountants, successors, assigns, legal representatives, executors
and administrators, past and present, and each and every one of them, in their individual and corporate capacities as such (collectively,
the “Releasees”) from any and all claims which I had, may have had, or now have against the Company, the Releasees,
collectively or any member of the Releasees individually, for or by reason of any matter, cause or thing whatsoever, including,
without limitation, any claims arising out of or attributable to my employment or the termination of my employment with SWK Holdings
Corporation, any claims for wrongful termination, unjust dismissal, defamation, libel or slander, or under any applicable federal,
state or local law dealing with discrimination based on age, race, sex, national origin, handicap, religion, disability, sexual
preference or any other factor. This release of claims includes, but is not limited to, all claims arising under: the Age Discrimination
in Employment Act of 1967 (the “ADEA”, a law which prohibits discrimination on the basis of age); the National
Labor Relations Act; Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990; the Civil Rights Act
of 1991; the Employee Retirement Income Security Act of 1974; the Family Medical Leave Act; the Equal Pay Act; all as amended,
and all other federal, state and local labor and anti-discrimination laws, the common law and any other purported restriction on
an employer’s right to terminate the employment of employees. Notwithstanding the foregoing, this release shall not apply to any
claims that arise under or are in connection with (i) this release, (ii) employee benefit plans of general applicability in which
I participated as of the date of the termination of my employment, (iii) my rights, if any, to indemnification by the Company under
the articles, by-laws, policies or other agreements or applicable law, and (iv) any claim that cannot be waived under applicable
state or federal law. As used in this release, the term “claims” shall include all claims, covenants, warranties, promises,
undertakings, actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses and liabilities,
of whatsoever kind or nature, in law, equity or otherwise.

    	 	A-1	 

     

    

(2)      I represent
and warrant that I have not filed or permitted to be filed against the Releasees, any member of the Releasees individually or the
Releasees collectively, any complaint, charge, claim, suit, action or proceeding before any local, state or federal court or other
body (each individually, a “Proceeding”). I further represent and warrant that I am not aware of any basis on
which such a Proceeding could reasonably be instituted. I covenant and agree that I will not initiate or cause to be initiated
on my behalf any Proceeding at any time hereafter with respect to the subject matter of this release and claims released pursuant
to this release (including, without limitation, any claims relating to my employment by the Company or the termination of same),
except as may be necessary to enforce this release, to obtain benefits described in or granted under the Letter Agreement, to seek
a determination of the validity of the waiver of my rights under the ADEA or as required by law. Except as otherwise provided in
the preceding sentence, I will not voluntarily participate in any judicial proceeding of any nature or description against the
Releasees, any member of the Releasees individually or the Releasees collectively as of the Effective Date (defined below). I hereby
waive any right I may have to benefit in any manner from any relief (whether monetary or otherwise) arising out of any Proceeding,
including any Proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”). Further, I understand
that, by executing this release, I will be limiting my right to pursue certain claims and the availability of certain remedies
I may have against the Releasees, any member of the Releasees individually or the Releasees collectively. Notwithstanding the above,
nothing in this release shall prevent me from initiating or participating in an investigation or proceeding conducted by the EEOC.

(3)      Extent
of Release. I acknowledge that this release is valid whether a potential claim arises under any federal, state or local statute
(including, without limitation, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination
in Employment Act of 1967, the Equal Pay Act, the Americans with Disabilities Act of 1990, the Employee Retirement Income Security
Act of 1974, the Fair Labor Standards Act, the Family and Medical Leave Act, the Florida Civil Rights Act, and all other statutes
regulating the terms and conditions of my employment), regulation or ordinance, under the common law or in equity (including any
claims in tort or under contract for wrongful discharge or otherwise), or under any policy, agreement, understanding or promise,
written or oral, formal or informal, between SWK Holdings and me.

(4)      Older
Workers’ Benefit Protection Act. With respect to any potential claim by me under the ADEA, this release is intended to satisfy
the requirements of the Older Workers’ Benefit Protection Act, 29 U.S.C. sec. 626(f). I was advised to consult with an attorney
before executing this release.

(5)      Acknowledgments/Time
to Consider. I acknowledge and agree that (i) I have read and understand the terms of this release; (ii) I have been advised
in writing to consult with an attorney before executing this release; (iii) I have obtained and considered such legal counsel as
I deem necessary (if any); (iv) I have been given at least twenty-one (21) days to consider whether or not to enter into this release
(although I may elect not to use the full 21-day period at my option); and (v) by signing this release, I acknowledge that I do
so freely, knowingly, and voluntarily.

    	 	A-2	 

     

    

(6)      Revocation/Effective
Date. This waiver of ADEA claims shall not become effective or enforceable until the eighth (8th) day after I sign this release.
In other words, I may revoke my waiver of any potential ADEA claims within seven (7) days after the date I sign this release. My
revocation must be in writing and received via facsimile transmission by January 19, 2016, Fax: (972) 687-7255, no later than 5:00
p.m. (CST) in order to be effective. If I do not revoke within the seven (7) day period, my waiver of any ADEA claims shall become
binding and enforceable on the eighth day after I sign it (the “Effective Date”). I acknowledge and agree that, if I
revoke the release in a timely manner, the Letter Agreement shall not be effective, and I will not be entitled to receive the payments
and other consideration set forth in Section 2(a) of the Letter Agreement.

This release shall
not in any way be construed as an admission by SWK Holdings, of any liability or acts of wrongdoing or discrimination.

 

Dated this 12th day
of January, 2016

	 	 
	 	 
	 	 
	 	J. Brett Pope

 

STATE OF TEXAS

 

COUNTY OF       _____________

 

Before me, personally
appeared J. Brett Pope, who being duly sworn, deposes and says, that he is the person named in the foregoing release, that he has
read the same, knows the contents thereof and the same is true.

 

SWORN to and subscribed
before me, this 12th day of January, 2016.

 

	 	 	 
	 	Notary Public, State of Texas
	 	Print Name:	 
	 	My commission expires:   	 
	 	Commission No.:	 

 

 

	Personally known ____ OR Produced ID ____.  Type of ID:  	 

 

    	 	A-3Exhibit 10.4

 

Post-IPO Date Grants

 

Oncobiologics,
Inc.

2015 Equity Incentive Plan

 

Stock
Option Grant Notice

 

Oncobiologics, Inc. (the “Company”),
pursuant to its 2015 Equity Incentive Plan (the “Plan”), hereby grants to Optionholder an option to purchase
the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions
as set forth in this notice, in the Option Agreement, the Plan and the Notice of Exercise, all of which are attached hereto and
incorporated herein in their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the Option Agreement
will have the same definitions as in the Plan or the Option Agreement. If there is any conflict between the terms in this notice
and the Plan, the terms of the Plan will control.

 

	Optionholder:	 
	Date of Grant:	 
	Vesting Commencement Date:	 
	Number of Shares Subject to Option:	 
	Exercise Price (Per Share):	 
	Total Exercise Price:	 
	Expiration Date:	 

 

	Type of Grant:	 ̈  Incentive Stock Option1 	 ̈  Nonstatutory Stock Option

 

	Exercise Schedule:	Same as Vesting Schedule  

 

	Vesting Schedule: 	[________________________]

 

	Payment: 	By one or a combination of the following items (described in the Option Agreement):

 

 ̈  By cash, check, bank draft or money order payable to the Company

 ̈  Pursuant
to a Regulation T Program if the shares are publicly traded

 ̈  By
delivery of already-owned shares if the shares are publicly traded

 ̈  If
and only to the extent this option is a Nonstatutory Stock Option, and subject to the Company’s consent at the time of exercise,
by a “net exercise” arrangement

 

Additional Terms/Acknowledgements: Optionholder
acknowledges receipt of, and understands and agrees to, this Stock Option Grant Notice, the Option Agreement and the Plan. Optionholder
acknowledges and agrees that this Stock Option Grant Notice and the Option Agreement may not be modified, amended or revised except
as provided in the Plan.  Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice,
the Option Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding this option
award and supersede all prior oral and written agreements, promises and/or representations on that subject with the exception of
(i) options previously granted and delivered to Optionholder, (ii) any compensation recovery policy that is adopted by the Company
or is otherwise required by applicable law and (iii) any written

 

 

1
If this is an Incentive Stock Option, it (plus other outstanding Incentive Stock Options) cannot be first exercisable
for more than $100,000 in value (measured by exercise price) in any calendar year. Any excess over $100,000 is a Nonstatutory
Stock Option.

 

    	 	1.	 

     

    

 

employment or severance arrangement that
would provide for vesting acceleration of this option upon the terms and conditions set forth therein.

 

By accepting this option, Optionholder
consents to receive such documents by electronic delivery and to participate in the Plan through an online or electronic system
established and maintained by the Company or another third party designated by the Company.

 

	Oncobiologics, Inc.	 	Optionholder:
	 	 	 
	By:	 	 	 
	Signature	 	Signature
	 	 	 	 

	Title:	 	 	Date:	 

 

	Date:	 	 	 	 

 

Attachments:
Option Agreement, 2015 Equity Incentive Plan and Notice of Exercise

 

    	 	2.	 

     

    

 

Attachment I

 

Option
Agreement

 

     

     

    

 

Oncobiologics,
Inc.

2015 Equity Incentive Plan

 

Option Agreement

(Incentive Stock Option or Nonstatutory Stock Option)

 

Pursuant to your Stock
Option Grant Notice (“Grant Notice”) and this Option Agreement, Oncobiologics, Inc. (the “Company”)
has granted you an option under its 2015 Equity Incentive Plan (the “Plan”) to purchase the number of
shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant Notice.
The option is granted to you effective as of the date of grant set forth in the Grant Notice (the “Date of Grant”).
If there is any conflict between the terms in this Option Agreement and the Plan, the terms of the Plan will control. Capitalized
terms not explicitly defined in this Option Agreement or in the Grant Notice but defined in the Plan will have the same definitions
as in the Plan.

 

The details of your
option, in addition to those set forth in the Grant Notice and the Plan, are as follows:

 

1.           Vesting.
Subject to the provisions contained herein, your option will vest as provided in your Grant Notice. Vesting will cease upon the
termination of your Continuous Service.

 

2.           Number
of Shares and Exercise Price. The number of shares of Common Stock subject to your option
and your exercise price per share in your Grant Notice will be adjusted for Capitalization Adjustments.

 

3.           Exercise
Restriction for Non-Exempt Employees. If you are an Employee eligible for overtime compensation
under the Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt Employee”), and except
as otherwise provided in the Plan, you may not exercise your option until you have completed at least six (6) months of Continuous
Service measured from the Date of Grant, even if you have already been an employee for more than six (6) months. Consistent with
the provisions of the Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior to such six
(6) month anniversary in the case of (i) your death or disability, (ii) a Corporate Transaction in which your option is not assumed,
continued or substituted, (iii) a Change in Control or (iv) your termination of Continuous Service on your “retirement”
(as defined in the Company’s benefit plans). 

 

4.           Method
of Payment. You must pay the full amount of the exercise price for the shares you wish
to exercise. You may pay the exercise price in cash or by check, bank draft or money order payable to the Company or in any other
manner permitted by your Grant Notice, which may include one or more of the following:

 

(a)          Pursuant
to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock,
results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate
exercise price to the Company from the sales proceeds. This manner of payment is also known as a “broker-assisted exercise”,
“same day sale”, or “sell to cover”.

 

(b)          By
delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free
and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise.
“Delivery” for these

 

    	 	1.	 

     

    

 

purposes, in the sole
discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership
of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of
Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s
stock.

 

(c)          If
this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a “net exercise”
arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option
by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay
any remaining balance of the aggregate exercise price not satisfied by the “net exercise” in cash or other permitted
form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter
if those shares (i) are used to pay the exercise price pursuant to the “net exercise,” (ii) are delivered to you as
a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations.

 

5.           Whole
Shares. You may exercise your option only for whole shares of Common Stock.

 

6.           Securities
Law Compliance. In no event may you exercise your option unless the shares of Common Stock
issuable upon exercise are then registered under the Securities Act or, if not registered, the Company has determined that your
exercise and the issuance of the shares would be exempt from the registration requirements of the Securities Act. The exercise
of your option also must comply with all other applicable laws and regulations governing your option, and you may not exercise
your option if the Company determines that such exercise would not be in material compliance with such laws and regulations (including
any restrictions on exercise required for compliance with Treas. Reg. 1.401(k)-1(d)(3), if applicable).

 

7.           Term.
You may not exercise your option before the Date of Grant or after the expiration of the option’s term. The term of your
option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following:

 

(a)          immediately
upon the date on which the event giving rise to your termination of Continuous Service for Cause occurs (or, if required by law,
the date of termination of Continuous Service for Cause);

 

(b)          three
(3) months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death
(except as otherwise provided in Section 7(d) below); provided, however, that if during any part of such three
(3) month period your option is not exercisable solely because of the condition set forth in the section above relating to “Securities
Law Compliance,” your option will not expire until the earlier of the Expiration Date or until it has been exercisable for
an aggregate period of three (3) months after the termination of your Continuous Service; provided further, if during any
part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company’s
insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable
for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common
Stock received upon exercise of your option would not be in violation of the Company’s insider trading policy. Notwithstanding
the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date
of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option
will not expire until the earlier

 

    	 	2.	 

     

    

 

of (x) the later of (A)
the date that is seven (7) months after the Date of Grant, and (B) the date that is three (3) months after the termination of your
Continuous Service, and (y) the Expiration Date;

 

(c)          twelve
(12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 7(d))
below;

 

(d)          eighteen
(18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous
Service terminates for any reason other than Cause;

 

(e)          in
certain circumstances upon the effective date of a Corporate Transaction as set forth in the Plan; 

 

(f)          the
Expiration Date indicated in your Grant Notice; or

 

(g)          the
day before the tenth (10th) anniversary of the Date of Grant.

 

If your option is an
Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code
requires that at all times beginning on the Date of Grant and ending on the day three (3) months before the date of your option’s
exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company
has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that
your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate
as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months
after the date your employment with the Company or an Affiliate terminates.

 

8.           Exercise.

 

(a)          You
may exercise the vested portion of your option during its term by (i) delivering a Notice of Exercise (in a form designated by
the Company) or completing such other documents and/or procedures designated by the Company for exercise and (ii) paying the exercise
price and any applicable withholding taxes to the Company’s Secretary, stock plan administrator, or such other person as
the Company may designate, together with such additional documents as the Company may then require.

 

(b)          By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into
an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason
of (i) the exercise of your option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are
subject at the time of exercise, or (iii) the disposition of shares of Common Stock acquired upon such exercise.

 

(c)          If
your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option
that occurs within two (2) years after the Date of Grant or within one (1) year after such shares of Common Stock are transferred
upon exercise of your option.

 

    	 	3.	 

     

    

 

 

9.          Transferability.
Except as otherwise provided in this Section 9, your option
is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you.

 

(a)          Certain
Trusts. Upon receiving written permission from the Board or its duly
authorized designee, you may transfer your option to a trust if you are considered to
be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the
trust. You and the trustee must enter into transfer and other agreements required by the Company. 

 

(b)          Domestic
Relations Orders. Upon receiving written permission from the Board
or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required
by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement
or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2)
that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms
of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement
to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If this
option is an Incentive Stock Option, this option may be deemed to be a Nonstatutory Stock Option as a result of such transfer.

 

(c)          Beneficiary
Designation. Upon receiving written permission from the Board or its
duly authorized designee, you may, by
delivering written notice to the Company, in a form approved by the Company and any broker designated
by the Company to handle option exercises,
designate a third party who, on your death, will thereafter be entitled to exercise
this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation,
your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the
Common Stock or other consideration resulting from such exercise.

 

10.         Option
not a Service Contract. Your option is not an employment or service contract, and nothing
in your option will be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company
or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option will obligate
the Company or an Affiliate, their respective stockholders, boards of directors, officers or employees to continue any relationship
that you might have as a Director or Consultant for the Company or an Affiliate.

 

11.         Withholding
Obligations.

 

(a)          At
the time you exercise your option, in whole or in part, and at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by
means of a “same day sale” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of your option. 

 

(b)          If
this option is a Nonstatutory Stock Option, then upon your request and subject to approval by the Company, and compliance with
any applicable legal conditions or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable
to you upon the exercise of your option a number of whole shares of Common Stock having a Fair Market Value, determined by the
Company as of the date of exercise, not in excess of the minimum amount of tax

 

    	 	4.	 

     

    

 

required to be withheld
by law (or such lower amount as may be necessary to avoid classification of your option as a liability for financial accounting
purposes). If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise
of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely
election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with
respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to
the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely
from fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise issuable to you
upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your sole
responsibility.

 

(c)          You
may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly,
you may not be able to exercise your option when desired even though your option is vested, and the Company will have no obligation
to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any escrow provided for herein,
if applicable, unless such obligations are satisfied.

 

12.         Tax
Consequences. You hereby agree that the Company does not have a duty to design or administer
the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You will not make any claim against
the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or
your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise
price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common
Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. 

 

13.         Notices.
Any notices provided for in your option or the Plan will be given in writing (including electronically) and will be deemed effectively
given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United
States mail, postage prepaid, addressed to you at the last address you provided to the Company. The Company may, in its sole discretion,
decide to deliver any documents related to participation in the Plan and this option by electronic means or to request your consent
to participate in the Plan by electronic means. By accepting this option, you consent to receive such documents by electronic delivery
and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third
party designated by the Company.

 

14.         Governing
Plan Document. Your option is subject to all the provisions of the Plan, the provisions
of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations,
which may from time to time be promulgated and adopted pursuant to the Plan. If there is any conflict between the provisions of
your option and those of the Plan, the provisions of the Plan will control. In addition, your option (and any compensation paid
or shares issued under your option) is subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer
Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery
policy otherwise required by applicable law.

 

15.         Other
Documents. If the Date of Grant occurs on or following the IPO Date, you hereby acknowledge
receipt of and the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities
Act, which includes the Plan prospectus, and you acknowledge receipt of the Company’s policy permitting certain individuals
to sell shares only during certain “window” periods and the Company’s insider trading policy, in effect from
time to time.

 

    	 	5.	 

     

    

 

 

16.         Effect
on Other Employee Benefit Plans. The value of this option will not be included as compensation,
earnings, salaries, or other similar terms used when calculating your benefits under any employee benefit plan sponsored by the
Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend,
modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans.

 

17.         Voting
Rights. You will not have voting or any other rights as a stockholder of the Company with
respect to the shares to be issued pursuant to this option until such shares are issued to you. Upon such issuance, you will obtain
full voting and other rights as a stockholder of the Company. Nothing contained in this option, and no action taken pursuant to
its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company
or any other person.

 

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

 

19.         Miscellaneous.

 

(a)          The
rights and obligations of the Company under your option will be transferable to any one or more persons or entities, and all covenants
and agreements hereunder will inure to the benefit of, and be enforceable by the Company’s successors and assigns. 

 

(b)          You
agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company
to carry out the purposes or intent of your option.

 

(c)          You
acknowledge and agree that you have reviewed your option in its entirety, have had an opportunity to obtain the advice of counsel
prior to executing and accepting your option, and fully understand all provisions of your option.

 

(d)          This
Option Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies
or national securities exchanges as may be required.

 

(e)          All
obligations of the Company under the Plan and this Option Agreement will be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially
all of the business and/or assets of the Company.

 

*      *      *

 

This Option Agreement will be
deemed to be signed by you upon the signing by you of the Grant Notice to which it is attached.

 

    	 	6.	 

     

    

 

Attachment
II

 

2015
Equity Incentive Plan

 

     

     

    

 

Attachment III

 

Notice
of Exercise

 

     

     

    

 

Notice
Of Exercise

 

Oncobiologics, Inc.

Attention: Stock Plan Administrator

7 Clarke Drive

Cranbury, NJ 08512

 

Date of Exercise: _______________

 

This constitutes notice
to Oncobiologics, Inc. (the “Company”) under my stock option that I elect to purchase the below number
of shares of Common Stock of the Company (the “Shares”) for the price set forth below.

 

	Type of option (check one):	Incentive   ̈	Nonstatutory   ̈
	 	 	 
	Stock option dated:	_______________	_______________
	 	 	 
	Number of Shares as

to which option is

exercised:	_______________	_______________
	 	 	 
	Certificates to be

issued in name of:	_______________	_______________
	 	 	 
	Total exercise price:	$______________	$______________
	 	 	 
	Cash payment delivered

herewith:	$______________	$______________
	 	 	 
	Value of ________ Shares delivered herewith:1	$______________	$______________
	 	 	 
	Regulation T Program (cashless exercise):2	$______________	$______________

 

By this exercise, I
agree (i) to provide such additional documents as you may require pursuant to the terms of the Oncobiologics, Inc. 2015 Equity
Incentive Plan, (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation,
if any, relating to the exercise of this option, and (iii) if this exercise relates to an Incentive Stock Option, to notify
you in writing within fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of this option
that occurs within two (2) years after the date of grant of this option or within one (1) year after such Shares are issued upon
exercise of this option.

 

 

1
Shares must meet the public trading requirements set forth in the option agreement.
Shares must be valued in accordance with the terms of the option being exercised, and must be owned free and clear of any liens,
claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from
certificate.

 

2
Shares must meet the public trading requirements set forth in the option agreement.

 

     

     

    

 

	 	Very truly yours,
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Print Name

 

     

     

    

 

Oncobiologics,
Inc.

Restricted Stock Unit Grant Notice

(2015 Equity Incentive Plan)

 

Oncobiologics, Inc. (the “Company”)
hereby grants to Participant a Restricted Stock Unit Award (as defined in the Plan) for the number of shares of the Company’s
Common Stock set forth below (the “RSUs”). The RSUs are subject to all of the terms and conditions as
set forth herein and in the Company’s 2015 Equity Incentive Plan (the “Plan”) and the Restricted
Stock Unit Agreement (the “RSU Agreement”), both of which are attached hereto and incorporated herein
in their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the RSU Agreement will have the meanings
set forth in the Plan or the RSU Agreement. Except as explicitly provided herein or in the RSU Agreement, in the event of any conflict
between the terms in the RSUs and the Plan, the terms of the Plan will control.

 

	Participant:	 	 
	Date of Grant:	 	 
	Vesting Commencement Date:	 	 
	Number of RSUs:	 	 
	Consideration:	Participant’s Services
	Expiration Date:	Earlier of: (i) the tenth anniversary of the Date of Grant or 
	 	(ii) the date of termination of Participant’s Continuous 
	 	Service.

 

		Vesting Schedule:	[Insert]

 

		Settlement:	If a RSU vests as provided for above, the Company will deliver one share of Common Stock (or its
cash equivalent, at the discretion of the Company) for each Vested RSU. The shares will be issued in accordance with the issuance
schedule set forth in Section 6 of the RSU Agreement.

 

Additional Terms/Acknowledgements: The
undersigned Participant acknowledges receipt of, and understands and agrees to, this Restricted Stock Unit Grant Notice, the RSU
Agreement and the Plan. Participant further acknowledges that as of the Date of Grant, this Restricted Stock Unit Grant Notice,
the RSU Agreement and the Plan set forth the entire understanding between Participant and the Company regarding the RSUs and supersedes
all prior oral and written agreements, promises and/or representations on that subject, with the exception of (i) restricted stock
units or other stock awards previously granted and delivered to Participant, (ii) any compensation recovery policy that is adopted
by the Company or is otherwise required by applicable law and (iii) any written employment or severance arrangement that would
provide for vesting acceleration of the RSUs upon the terms and conditions set forth therein.

 

By accepting the RSUs the undersigned Participant
acknowledges having received and read this Restricted Stock Unit Grant Notice, the RSU Agreement and the Plan and agrees to all
of the terms and conditions set forth in these documents. Participant consents to receive such documents by electronic delivery
and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third
party designated by the Company.

 

     

     

    

 

	Oncobiologics, Inc.	 	Participant:
	 	 	 	 	 
	By:	 	 	 
	 	Signature	 	 	Signature
	 	 	 	 	 
	Title:	 	 	Date:	 
	 	 	 	 	 
	Date:	 	 	 	 

 

		Attachments:	RSU Agreement, 2015 Equity
Incentive Plan

 

    	 	1	 

     

    

 

Oncobiologics,
Inc.

2015
Equity Incentive Plan

 

Restricted
Stock Unit Agreement

 

Pursuant to the Restricted
Stock Unit Grant Notice (the “Grant Notice”) and this Restricted Stock Unit Agreement (the “Agreement”)
and in consideration of your services, Oncobiologics, Inc. (the “Company”) has awarded you a Restricted
Stock Unit Award under its 2015 Equity Incentive Plan (the “Plan”) for the number of restricted stock
units set forth on the Grant Notice (the “Stock Units”). Capitalized terms not explicitly defined in
this Agreement will have the same meanings given to them in the Plan or the Grant Notice, as applicable. Except as otherwise explicitly
provided herein, in the event of any conflict between the terms in this Agreement and the Plan, the terms of the Plan will control.

 

The details of your Stock
Units, in addition to those set forth in the Grant Notice and the Plan, are as follows.

 

1.           Grant
of the Stock Units. This Stock Units represent your right to be issued on a future date the number of shares of Common
Stock that is equal to the number of restricted stock units indicated in the Grant Notice. As of the Date of Grant, the Company
will credit to a bookkeeping account maintained by the Company for your benefit (the “Account”) the number
of Stock Units granted. The Stock Units were granted in consideration of your services to the Company. Except as otherwise provided
herein, you will not be required to make any payment to the Company (other than past and future services to the Company) with respect
to your receipt of the Stock Units, the vesting of the Stock Units or the delivery of the Common Stock to be issued in respect
of the Stock Units. Notwithstanding the foregoing, the Company reserves the right to issue you the cash equivalent of Common Stock,
in part or in full satisfaction of the delivery of Common Stock upon vesting of your Stock Units, and, to the extent applicable,
references in this Agreement and the Grant Notice to Common Stock issuable in connection with your Stock Units will include the
potential issuance of its cash equivalent pursuant to such right.

 

2.           Vesting.
Subject to the limitations contained herein, your Stock Units will vest, if at all, in accordance with the vesting schedule provided
in the Grant Notice, provided that vesting will cease upon the termination of your Continuous Service. Upon such termination of
your Continuous Service prior to satisfaction of both the Service-Based Requirement and Liquidity Event Requirement, the Stock
Units credited to the Account that were not vested on the date of such termination will be forfeited at no cost to the Company
and you will have no further right, title or interest in such Stock Units or the shares of Common Stock to be issued in respect
of such portion of the Stock Units.

 

3.           Number
of Stock Units and Shares of Common stock.

 

(a)          The
number of Stock Units granted may be adjusted from time to time for Capitalization Adjustments, as provided in the Plan.

 

    	 	1.	 

     

    

 

(b)          Any
additional Stock Units, shares, cash or other property that are issued pursuant to this Section 3, if any, will be subject, in
a manner determined by the Board, to the same forfeiture restrictions, restrictions on transferability, and time and manner of
delivery as applicable to the other Stock Units.

 

(c)          Notwithstanding
the provisions of this Section 3, no fractional shares or rights for fractional shares of Common Stock will be created pursuant
to this Section 3. The Board will, in its discretion, determine an equivalent benefit for any fractional shares or fractional shares
that might be created by the adjustments referred to in this Section 3.

 

4.           Securities
Law Compliance. You may not be issued any shares of Common Stock in respect of your Stock Units unless either (i) the
shares are registered under the Securities Act; or (ii) the Company has determined that such issuance would be exempt from the
registration requirements of the Securities Act. Your Stock Units also must comply with other applicable laws and regulations governing
the Stock Units, and you will not receive such shares if the Company determines that such receipt would not be in material compliance
with such laws and regulations.

 

5.           Transfer
Restrictions. Your Stock Units are not transferable, except by will or by the laws of descent and distribution. In addition
to any other limitation on transfer created by applicable securities laws, you agree not to assign, hypothecate, donate, encumber
or otherwise dispose of any interest in any of the shares of Common Stock subject to the Stock Units until the shares are issued
to you in accordance with Section 6 of this Agreement. After the shares have been issued to you, you are free to assign, hypothecate,
donate, encumber or otherwise dispose of any interest in such shares provided that any such actions are in compliance with the
provisions herein, any applicable Company policies (including, but not limited to, insider trading and window period policies)
and applicable securities laws. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory
to the Company, you may designate a third party who, in the event of your death, will thereafter be entitled to receive any distribution
of Common Stock to which you were entitled at the time of your death pursuant to this Agreement.

 

6.           Date
of Issuance. 

 

(a)          Subject
to the satisfaction of the Tax-Related Items set forth in Section 10 of this Agreement, to the extent the Stock Units are exempt
from application of Section 409A of the Code and any state law of similar effect (collectively “Section 409A”),
the Company will deliver to you a number of shares of Common Stock equal to the number of vested Stock Units, including any additional
Stock Units received pursuant to Section 3 above that relate to those vested Stock Units, on the applicable vesting date. However,
if a scheduled delivery date falls on a date that is not a business day, such delivery date will instead fall on the next following
business day. Notwithstanding the foregoing, to the extent applicable at a vesting date when shares are registered under the Securities
Act, in the event that (i) any shares covered by your Stock Units are scheduled to be delivered on a day (the “Original
Distribution Date”) that does not occur: (A) during an open “window period” applicable to you under the
Company’s policy permitting officers, directors and other designated individuals to sell shares only during certain “window”
periods, in effect from time to time (the “Policy”), (B) on a day on which you are

 

    	 	2.	 

     

    

 

permitted to sell shares
of Common Stock pursuant to a written plan that meets the requirements of Rule 10b5-1 under the Exchange Act, as determined by
the Company in accordance with the Policy, or (C) on a date when you are otherwise permitted to sell shares of Common Stock on
the open market, and (ii) the Company elects not to satisfy its obligations for Tax-Related Items (as defined in Section 10) by
withholding shares from your distribution or withholding from other compensation otherwise payable to you by the Company, then
such shares will not be delivered on such Original Distribution Date and will instead be delivered on the first business day of
the next occurring open “window period” applicable to you pursuant to such Policy (regardless of whether you are still
providing Continuous Service at such time) or the next business day when you are not prohibited from selling shares of Common Stock
in the open market, but in no event later than the later of (i) the fifteenth (15th) day of the third month following
the end of the calendar year in which the applicable shares covered by the Stock Units vest or (ii) the fifteenth (15th)
day of the third month following the end of the Company’s taxable year in which the applicable shares covered by the Stock
Units vest (the “Issuance Deadline”). Delivery of the shares pursuant to the provisions of this Section
6(a) is intended to comply with the requirements for the short-term deferral exemption available under Treasury Regulations Section
1.409A-1(b)(4) and will be construed and administered in such manner. The form of such delivery of the shares (e.g., a stock certificate
or electronic entry evidencing such shares) will be determined by the Company.

 

If the Company elects to
issue you cash in part or in full satisfaction of the shares of Common Stock issuable upon vesting of your Stock Units, then the
foregoing provisions of this Section 6(a) will not apply and such cash will be paid to you in a lump sum at any time on after the
vesting date of your Stock Units, but in no event later than the Issuance Deadline.

 

7.           Dividends.
You will receive no benefit or adjustment to your Stock Units with respect to any cash dividend, stock dividend or other distribution
that does not result from a Capitalization Adjustment as provided in the Plan; provided, however, that this sentence will not apply
with respect to any shares of Common Stock that are delivered to you in connection with your Stock Units after such shares have
been delivered to you.

 

8.           Restrictive
Legends. The shares issued in respect of your Stock Units will be endorsed with appropriate legends determined by the
Company.

 

9.           Stock
Units not an Employment or Service Contract.

 

(a)          Your
Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company
or an Affiliate at any time, for any reason, with or without cause and with or without notice.  Nothing in this Agreement
(including, but not limited to, the vesting of your Stock Units pursuant to the schedule set forth in the Grant Notice herein or
the issuance of the shares in respect of your Stock Units), the Plan or any covenant of good faith and fair dealing that may be
found implicit in this Agreement or the Plan will:  (i) confer upon you any right to continue in the employ of, or affiliation
with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact
or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation;
(iii) confer any right or benefit under this Agreement or the Plan unless such right or benefit has specifically accrued

 

    	 	3.	 

     

    

 

under the terms of this Agreement
or Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting
opportunity that you may have.

 

(b)          By
accepting the Stock Units, you acknowledge and agree that the right to continue vesting in the Stock Units pursuant to the vesting
schedule set forth in Section 2 and in the Grant Notice is earned only by continuing as an employee, director or consultant at
the will of the Company or an Affiliate (not through the act of being hired, being granted the Stock Units or any other award or
benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses
or Affiliates at any time or from time to time, as it deems appropriate (a “reorganization”).  You further acknowledge
and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate
status of your employer and the loss of benefits available to you under this Agreement, including but not limited to, the termination
of the right to continue vesting in the Stock Units. You further acknowledge and agree that this Agreement, the Plan, the transactions
contemplated hereunder and the vesting schedule set forth in Section 2 and in the Grant Notice or any covenant of good faith and
fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement
as an employee or consultant with the Company or an Affiliate for the term of this Agreement, for any period, or at all, and will
not interfere in any way with your right or the right of the Company or an Affiliate to terminate your Continuous Service at any
time, with or without cause and with or without notice.

 

10.         Responsibility
for Taxes.

 

(a)          You
acknowledge that, regardless of any action taken by the Company, the ultimate liability for all income tax, payroll tax, fringe
benefits tax, payment on account or other tax-related items related to your participation in the Plan and legally applicable to
you or deemed by the Company in its discretion to be an appropriate charge to you even if legally applicable to the Company (“Tax-Related
Items”) is and remains your responsibility and may exceed the amount actually withheld by the Company.

 

(b)          Prior
to any relevant taxable or tax withholding event, as applicable, you agree to make adequate arrangements satisfactory to the Company
to satisfy all Tax-Related Items. In this regard, you authorize the Company or its agent to satisfy their withholding obligations
with regard to all Tax-Related Items, if any, by any of the following means or by a combination of such means: (i) withholding
from any compensation otherwise payable to you by the Company or an Affiliate; (ii) causing you to tender a cash payment;
(iii) entering on your behalf (pursuant to this authorization without further consent) into a “same day sale”
commitment with a broker dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”)
whereby you irrevocably elect to sell a portion of the shares to be delivered under the Stock Units to satisfy the Tax-Related
Items and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the Tax-Related Items directly
to the Company and/or its Affiliates; or (iv) withholding shares of Common Stock from the shares of Common Stock issued or otherwise
issuable to you in connection with the Stock Units with a Fair Market Value (measured as of the date shares of Common Stock are
issued pursuant to Section 6) equal to the amount of such Tax-Related Items. Depending on the withholding method, the Company may
withhold or account for Tax-Related Items by considering applicable

 

    	 	4.	 

     

    

 

minimum statutory withholding
rates or other applicable withholding rates, including maximum applicable rates, in which case you will receive a refund of any
over-withheld amount in cash and will have no entitlement to the Common Stock equivalent. If the obligation for Tax-Related Items
is satisfied by withholding in shares of Common Stock, for tax purposes, you are deemed to have been issued the full number of
shares of Common Stock subject to the vested portion of the Stock Units, notwithstanding that a number of the shares of Common
Stock are held back solely for the purpose of paying the Tax-Related Items.

 

(c)          Finally,
you agree to pay to the Company any amount of Tax-Related Items that the Company may be required to withhold or account for as
a result of your participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to
issue or deliver the shares or the proceeds of the sale of shares of Common Stock if you fail to comply with your obligations in
connection with the Tax-Related Items.

 

11.         Lock-Up
Period. By accepting the Stock Units,
you agree that you will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of,
or enter into any hedging or similar transaction with the same economic effect as a sale with respect to any shares of Common Stock
or other securities of the Company held by you, for a period of one hundred eighty (180) days following the effective date of a
registration statement of the Company filed under the Securities Act (the “Lock-Up Period”); provided,
however, that nothing contained in this section shall prevent the exercise of a repurchase option, if any, in favor of the
Company during the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested
by the Company or the underwriters that are consistent with the foregoing or that are necessary to give further effect thereto.
In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common
Stock until the end of such period. You also agree that any transferee of any shares of Common Stock (or other securities) of the
Company held by you will be bound by this Section. The underwriters of the Company’s stock are intended third party beneficiaries
of this Section and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.

 

12.         Right
of First Refusal. Shares of Common Stock that you acquire pursuant to your Stock Units shall be subject to the right
of first refusal that may be described in the Company’s governing documents in effect at such time the Company elects to
exercise its right. The Company’s right of first refusal shall expire upon the initial public offering of the Company’s
common stock pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission or
any foreign regulatory agency under the Securities Act or any foreign securities laws.

 

13.         Unsecured
Obligation. The Stock Units are unfunded, and as a holder of vested Stock Units, you will be considered an unsecured
creditor of the Company with respect to the Company’s obligation, if any, to issue shares pursuant to this Agreement. You
will not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this
Agreement until such shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain full
voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its

 

    	 	5.	 

     

    

 

provisions, will create
or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person.

 

14.         Notices.
Any notices provided for in connection with the Stock Units or the Plan will be given in writing (including electronically) and
will be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit
in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. Notwithstanding the
foregoing, the Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and Stock
Units by electronic means or to request your consent to participate in the Plan by electronic means. By accepting the Stock Units
you consent to receive such documents by electronic delivery and, if requested, agree to participate in the Plan through an on-line
or electronic system established and maintained by the Company or another third party designated by the Company.

 

15.         Miscellaneous.

 

(a)          The
rights and obligations of the Company under the Stock Units will be transferable to any one or more persons or entities, and all
covenants and agreements hereunder will inure to the benefit of, and be enforceable by the Company’s successors and assigns.
Your rights and obligations under the Stock Units may only be assigned with the prior written consent of the Company.

 

(b)          You
agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company
to carry out the purposes or intent of the Stock Units.

 

(c)          You
acknowledge and agree that you have reviewed the Plan, this Agreement and the Stock Units in their entirety, have had an opportunity
to obtain the advice of counsel prior to executing and accepting the Stock Units, and fully understand all provisions of the Stock
Units.

 

(d)          This
Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or
national securities exchanges as may be required.

 

(e)          All
obligations of the Company under the Plan and this Agreement will be binding on any successor to the Company, whether the existence
of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially
all of the business and/or assets of the Company.

 

16.         Governing
Plan Document. The Stock Units are subject to all the provisions of the Plan, the provisions of which are hereby made
a part of the Stock Units, and are further subject to all interpretations, amendments, rules and regulations which may from time
to time be promulgated and adopted pursuant to the Plan. Except as expressly provided in this Agreement, in the event of any conflict
between the provisions of the Stock Units and those of the Plan, the provisions of the Plan will control. In addition, the Stock
Units (and any compensation paid or shares issued under your Stock Units) are subject to recoupment in accordance with The Dodd–Frank
Wall Street Reform and Consumer Protection Act and any implementing regulations

 

    	 	6.	 

     

    

 

thereunder, any clawback
policy adopted by the Company and any compensation recovery policy otherwise required by applicable law.

 

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

 

18.         Effect
on Other Employee Benefit Plans. The value of the Stock Units subject to this Agreement will not be included as compensation,
earnings, salaries, or other similar terms used when calculating your benefits under any employee benefit plan sponsored by the
Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend,
modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans.

 

19.         Amendment.
This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by you and by a duly authorized
representative of the Company. Notwithstanding the foregoing, this Agreement may be amended solely by the Board by a writing which
specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that
no such amendment adversely affecting your rights hereunder may be made without your written consent. Without limiting the foregoing,
the Board reserves the right to change, by written notice to you, the provisions of this Agreement in any way it may deem necessary
or advisable to carry out the purpose of the grant as a result of any change in applicable laws or regulations or any future law,
regulation, ruling, or judicial decision, provided that any such change will be applicable only to rights relating to that portion
of the Stock Units which is then subject to restrictions as provided herein.

 

20.         No
Obligation to Minimize Taxes.  The Company has no duty or obligation to minimize the tax consequences to you of the
Stock Units and will not be liable to you for any adverse tax consequences to you arising in connection with the Stock Units. You
are hereby advised to consult with your own personal tax, financial and/or legal advisors regarding the tax consequences of the
Stock Units and by signing the Grant Notice, you have agreed that you have done so or knowingly and voluntarily declined to do
so.

 

21.         Compliance
with Section 409A of the Code. The Stock Units are intended to comply with the “short-term deferral” rule
set forth in Treasury Regulation Section 1.409A-1(b)(4). Notwithstanding the foregoing, if it is determined that the Stock Units
fail to satisfy the requirements of the short-term deferral rule and are otherwise deferred compensation subject to Section 409A,
and if you are a “Specified Employee” (within the meaning set forth Section 409A(a)(2)(B)(i) of the Code) as of the
date of your separation from service (within the meaning of Treasury Regulation Section 1.409A-1(h)), then the issuance of any
shares that would otherwise be made upon the date of the separation from service or within the first six months thereafter will
not be made on the originally scheduled date(s) and will instead be issued in a lump sum on the date that is six months and one
day after the date of the separation from service, with the balance of the shares issued thereafter in accordance with the original
vesting and

 

    	 	7.	 

     

    

 

issuance schedule set forth
above, but if and only if such delay in the issuance of the shares is necessary to avoid the imposition of taxation on you in respect
of the shares under Section 409A of the Code. Each installment of shares that vests is intended to constitute a “separate
payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2).

 

*            *            *

 

This Agreement will be
deemed to be signed by you upon the signing by you of the Grant Notice to which it is attached.

 

    	 	8.	 

     

    

 

Oncobiologics,
Inc.

Restricted Stock Unit Grant Notice

(2015 Equity Incentive Plan)

 

Oncobiologics, Inc. (the “Company”),
pursuant to Section 6(b) of the Company’s 2015 Equity Incentive Plan (the “Plan”), hereby awards
to Participant Restricted Stock Units for the number of shares of the Company’s Common Stock (“RSUs” or “Restricted
Stock Units”) set forth below (sometimes referred to as the “Award”). The Award is subject
to all of the terms and conditions as set forth in this notice of grant (this “Restricted Stock Unit Grant Notice”)
and in the Plan and the Restricted Stock Unit Agreement (the “Award Agreement”), both of which are attached
hereto and incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the meanings set forth
in the Plan or the Award Agreement. In the event of any conflict between the terms in the Award and the Plan, the terms of the
Plan shall control.

 

	Participant:	 
	Date of Grant:	 
	Vesting Commencement Date:	 
	Number of Restricted Stock Units/Shares:	 

 

		Vesting Schedule:	The Restricted Stock Units shall vest as follows: [________________________].

 

		Issuance Schedule:	Subject to any change on a Capitalization Adjustment,
one share of Common Stock will be issued for each Restricted Stock Unit that vests at the time set forth in Section 6 of the Award
Agreement.

 

Additional Terms/Acknowledgements: Participant
acknowledges receipt of, and understands and agrees to, this Restricted Stock Unit Grant Notice, the Award Agreement and the Plan.
Participant further acknowledges that as of the Date of Grant, this Restricted Stock Unit Grant Notice, the Award Agreement and
the Plan set forth the entire understanding between Participant and the Company regarding the acquisition of the Common Stock pursuant
to the Award specified above and supersede all prior oral and written agreements on the terms of this Award with the exception,
if applicable, of (i) any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law,
and (ii) any written employment or severance arrangement that would provide for vesting acceleration of this Award upon the terms
and conditions set forth therein.

 

By accepting this Award, Participant acknowledges
having received and read this Restricted Stock Unit Grant Notice, the Award Agreement and the Plan and agrees to all of the terms
and conditions set forth in these documents. Participant consents to receive Plan documents by electronic delivery and to participate
in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated
by the Company.

 

     

     

    

 

	Oncobiologics, Inc.	 	Participant
	 	 	 	 	 
	By:	 	 	 	 
	 	Signature	 	 	Signature
	 	 	 	 	 
	Title:	 	 	Date:	 
	 	 	 	 	 
	Date:	 	 	 	 

 

		Attachments:	Restricted Stock Unit Agreement and 2015 Equity Incentive
Plan

 

     

     

    

 

Attachment
I

 

Restricted
Stock Unit Agreement

 

     

     

    

 

Oncobiologics,
Inc.

Restricted
Stock Unit Agreement

(2015
Equity Incentive Plan)

 

Pursuant to the Restricted
Stock Unit Grant Notice (the “Grant Notice”) and this Restricted Stock Unit Agreement (the “Agreement”),
Oncobiologics, Inc. (the “Company”) has awarded you (“Participant”) Restricted
Stock Units (“Restricted Stock Units” or “RSUs,” sometimes referred to generally as the “Award”)
pursuant to Section 6(b) of the Company’s 2015 Equity Incentive Plan (the “Plan”) for the number
of Restricted Stock Units indicated in the Grant Notice. Capitalized terms not explicitly defined in this Agreement or the Grant
Notice shall have the same meanings given to them in the Plan. The terms of your RSUs, in addition to those set forth in the Grant
Notice, are as follows.

 

22.         Grant
of the Award. This Award represents the right to be issued on a future date one (1) share of Common Stock for each Restricted
Stock Unit that vests on the applicable vesting date(s) (subject to any adjustment under Section 3 below) as indicated in the Grant
Notice. This Award was granted in consideration of your past or expected future services to the Company or its Affiliates.

 

23.         Vesting.
Subject to the limitations contained herein, your RSUs will vest, if at all, in accordance with the vesting schedule
provided in the Grant Notice, provided that vesting will cease upon the termination of your Continuous Service. Upon such termination
of your Continuous Service, the Restricted Stock Units that were not vested on the date of such termination will be forfeited at
no cost to the Company and you will have no further right, title or interest in or to the underlying shares of Common Stock subject
to the forfeited RSUs.

 

24.         Number
of Shares. The number of Restricted Stock Units/shares subject to your Award may be adjusted from time to time for Capitalization
Adjustments, as provided in the Plan. Any additional Restricted Stock Units, shares, cash or other property that becomes subject
to the Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board, to the same forfeiture
restrictions, restrictions on transferability, and time and manner of delivery as applicable to the other Restricted Stock Units
and shares covered by your Award. Notwithstanding the provisions of this Section 3, no fractional shares or rights for fractional
shares of Common Stock shall be created pursuant to this Section 3. Any fraction of a share will be rounded down to the nearest
whole share.

 

25.         Securities
Law Compliance. You may not be issued any Common Stock under your Award unless the shares of Common Stock underlying
the Restricted Stock Units are either (i) then registered under the Securities Act, or (ii) the Company has determined that such
issuance would be exempt from the registration requirements of the Securities Act. Your Award must also comply with other applicable
laws and regulations governing the Award, and you shall not receive such Common Stock if the Company determines that such receipt
would not be in material compliance with such laws and regulations.

 

     

     

    

 

26.         Transfer
Restrictions. Prior to the time that shares of Common Stock have been delivered to you, you may not transfer, pledge,
sell or otherwise dispose of the RSUs or the shares issuable in respect of your RSUs, except as expressly provided in this Section
5. For example, you may not use shares that may be issued in respect of your Restricted Stock Units as security for a loan. The
restrictions on transfer set forth herein will lapse upon delivery to you of shares in respect of your vested Restricted Stock
Units.

 

(a)          Death.
Your Award is transferable by will and by the laws of descent and distribution. At your death, vesting of your RSUs will cease
and your executor or administrator of your estate shall be entitled to receive, on behalf of your estate, any Common Stock or other
consideration that vested but was not issued before your death.

 

(b)          Domestic
Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and
the designated transferee enter into transfer and other agreements required by the Company, you may transfer your RSUs or the shares
of Common Stock issued upon vesting of your RSUs pursuant to a domestic relations order or marital settlement agreement that contains
the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division
of this Award with the Company’s Chief Legal Officer prior to finalizing the domestic relations order or marital settlement
agreement to verify that you may make such transfer, and if so, to help ensure the required information is contained within the
domestic relations order or marital settlement agreement.

 

27.         Date
of Issuance. 

 

(a)          The
issuance of shares in respect of the Restricted Stock Units is intended to comply with Treasury Regulations Section 1.409A-1(b)(4)
and will be construed and administered in such a manner. Subject to the satisfaction of the withholding obligations set forth in
this Agreement, in the event one or more Restricted Stock Units vests, the Company shall issue to you one (1) share of Common Stock
for each Restricted Stock Unit that vests on the applicable vesting date(s) (subject to any adjustment under Section 3 above).
The issuance date determined by this paragraph is referred to as the “Original Issuance Date.”

 

(b)          If
the Original Issuance Date falls on a date that is not a business day, delivery shall instead occur on the next following business
day. In addition, if:

 

(i)          the
Original Issuance Date does not occur (1) during an “open window period” applicable to you, as determined by the Company
in accordance with the Company’s then-effective policy on trading in Company securities, or (2) on a date when you are otherwise
permitted to sell shares of Common Stock on an established stock exchange or stock market, and

 

(ii)         either
(1) Withholding Taxes do not apply, or (2) the Company decides, prior to the Original Issuance Date, (A) not to satisfy the Withholding
Taxes by

 

     

     

    

 

withholding shares of Common
Stock from the shares otherwise due, on the Original Issuance Date, to you under this Award, and (B) not to permit you to pay your
Withholding Taxes in cash,

 

then the shares
that would otherwise be issued to you on the Original Issuance Date will not be delivered on such Original Issuance Date and will
instead be delivered on the first business day when you are not prohibited from selling shares of the Company’s Common Stock
in the open public market, but in no event later than December 31 of the calendar year in which the Original Issuance Date occurs
(that is, the last day of your taxable year in which the Original Issuance Date occurs), or, if and only if permitted in
a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third
calendar month of the applicable year following the year in which the shares of Common Stock under this Award are no longer subject
to a “substantial risk of forfeiture” within the meaning of Treasury Regulations Section 1.409A-1(d).

 

(c)          The
form of delivery (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by the Company.

 

28.         Dividends.
You shall receive no benefit or adjustment to your Award with respect to any cash dividend, stock dividend or other distribution
that does not result from a Capitalization Adjustment.

 

29.         Restrictive
Legends. The shares of Common Stock issued under your Award shall be endorsed with appropriate legends as determined
by the Company.

 

30.         Execution
of Documents. You hereby acknowledge and agree that the manner selected by the Company by which you indicate your consent
to your Grant Notice is also deemed to be your execution of your Grant Notice and of this Agreement. You further agree that such
manner of indicating consent may be relied upon as your signature for establishing your execution of any documents to be executed
in the future in connection with your Award.

 

31.         Award
not a Service Contract.

 

(a)          Nothing
in this Agreement (including, but not limited to, the vesting of your RSUs or the issuance of the shares subject to your RSUs),
the Plan or any covenant of good faith and fair dealing that may be found implicit in this Agreement or the Plan shall: (i) confer
upon you any right to continue in the employ of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise
or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future
compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement
or the Plan unless such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the
Company of the right to terminate you at will and without regard to any future vesting opportunity that you may have.

 

     

     

    

 

(b)          The
Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any
time or from time to time, as it deems appropriate (a “reorganization”). Such a reorganization could
result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits
available to you under this Agreement, including but not limited to, the termination of the right to continue vesting in the Award.
This Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of
good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued
engagement as an employee or consultant for the term of this Agreement, for any period, or at all, and shall not interfere in any
way with the Company’s right to conduct a reorganization.

 

32.         Withholding
Obligations. 

 

(a)          On
each vesting date, and on or before the time you receive a distribution of the shares underlying your Restricted Stock Units, and
at any other time as reasonably requested by the Company in accordance with applicable tax laws, you hereby authorize any required
withholding from the Common Stock issuable to you and/or otherwise agree to make adequate provision in cash for any sums required
to satisfy the federal, state, local and foreign tax withholding obligations of the Company or any Affiliate that arise in connection
with your Award (the “Withholding Taxes”). Additionally, the Company or any Affiliate may, in its sole
discretion, satisfy all or any portion of the Withholding Taxes obligation relating to your RSUs by any of the following means
or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company; (ii) causing
you to tender a cash payment; (iii) permitting or requiring you to enter into a “same day sale” commitment, if applicable,
with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”)
whereby you irrevocably elect to sell a portion of the shares to be delivered in connection with your Restricted Stock Units to
satisfy the Withholding Taxes and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the
Withholding Taxes directly to the Company and/or its Affiliates; or (iv) withholding shares of Common Stock from the shares of
Common Stock issued or otherwise issuable to you in connection with the Award with a Fair Market Value (measured as of the date
shares of Common Stock are issued to pursuant to Section 6) equal to the amount of such Withholding Taxes; provided, however,
that the number of such shares of Common Stock so withheld will not exceed the amount necessary to satisfy the Company’s
required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes,
including payroll taxes, that are applicable to supplemental taxable income; and provided, further, that to the extent necessary
to qualify for an exemption from application of Section 16(b) of the Exchange Act, if applicable, such share withholding procedure
will be subject to the express prior approval of the Company’s Compensation Committee.

 

     

     

    

 

(b)          Unless
the tax withholding obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation to deliver
to you any Common Stock.

 

(c)          In
the event the Company’s obligation to withhold arises prior to the delivery to you of Common Stock or it is determined after
the delivery of Common Stock to you that the amount of the Company’s withholding obligation was greater than the amount withheld
by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company to withhold the proper amount.

 

33.         Tax
Consequences. The Company has no duty or obligation to minimize the tax consequences to you of this Award and shall
not be liable to you for any adverse tax consequences to you arising in connection with this Award. You are hereby advised to consult
with your own personal tax, financial and/or legal advisors regarding the tax consequences of this Award and by signing the Grant
Notice, you have agreed that you have done so or knowingly and voluntarily declined to do so. You understand that you (and not
the Company) shall be responsible for your own tax liability that may arise as a result of this investment or the transactions
contemplated by this Agreement.

 

34.         Unsecured
Obligation. Your Award is unfunded, and as a holder of vested RSUs, you shall be considered an unsecured creditor of
the Company with respect to the Company’s obligation, if any, to issue shares or other property pursuant to this Agreement.
You shall not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant
to this Agreement until such shares are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain
full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant
to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company
or any other person.

 

35.         Notices.
Any notice or request required or permitted hereunder shall be given in writing to each of the other parties hereto and shall be
deemed effectively given on the earlier of (i) the date of personal delivery, including delivery by express courier, or delivery
via electronic means, or (ii) the date that is five (5) days after deposit in the United States Post Office (whether or not actually
received by the addressee), by registered or certified mail with postage and fees prepaid, addressed at the following addresses,
or at such other address(es) as a party may designate by ten (10) days’ advance written notice to each of the other parties
hereto:

 

		Company:	Oncobiologics, Inc.

Attn: Stock Administrator

7 Clarke Drive

			Cranbury, NJ 08512

 

		Participant:	Your address as on file with the Company

at the time notice
is given

 

     

     

    

 

36.         Headings.
The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of
this Agreement or to affect the meaning of this Agreement.

 

37.         Miscellaneous.

 

(a)          The
rights and obligations of the Company under your Award shall be transferable by the Company to any one or more persons or entities,
and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, the Company’s successors
and assigns.

 

(b)          You
agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company
to carry out the purposes or intent of your Award.

 

(c)          You
agree that you will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter
into any hedging or similar transaction with the same economic effect as a sale with respect to any shares of Common Stock or
other securities of the Company held by you, for a period of 180 days following the effective date of a registration
statement of the Company filed under the Securities Act or such longer period as the underwriters or the Company will request
to facilitate compliance with FINRA Rule 2711 or NYSE Member Rule 472 or any successor or similar rules or regulation (the
“Lock-Up Period”). You further agree to execute and deliver such other agreements as may be
reasonably requested by the Company or the underwriters that are consistent with the foregoing or that are necessary to give
further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with
respect to your shares of Common Stock until the end of such Lock-Up Period. You also agree that any transferee of any shares
of Common Stock (or other securities) of the Company held by you will be bound by this Section 16(c). The underwriters of the
Company’s stock are intended third party beneficiaries of this Section 16(c) and will have the right, power and
authority to enforce the provisions hereof as though they were a party hereto.

 

(d)          You
acknowledge and agree that you have reviewed your Award in its entirety, have had an opportunity to obtain the advice of counsel
prior to executing and accepting your Award and fully understand all provisions of your Award.

 

(e)          This
Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or
national securities exchanges as may be required.

 

(f)           All
obligations of the Company under the Plan and this Agreement shall be binding on any successor to the Company, whether the existence
of such successor is the

 

     

     

    

 

result of a direct
or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

 

38.         Governing
Plan Document. Your Award is subject to all the provisions of the Plan, the provisions of which are hereby made a part
of your Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be
promulgated and adopted pursuant to the Plan. Your Award (and any compensation paid or shares issued under your Award) is subject
to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations
thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable law.
No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntarily terminate employment
upon a resignation for “good reason,” or for a “constructive termination” or any similar term under any
plan of or agreement with the Company.

 

39.         Effect
on Other Employee Benefit Plans. The value of the RSUs subject to this Agreement or the stock underlying the RSUs upon
issuance to you shall not be included as compensation, earnings, salaries, or other similar terms used when calculating benefits
under any employee benefit plan (other than the Plan) sponsored by the Company or any Affiliate except as such plan otherwise expressly
provides. The Company expressly reserves its rights to amend, modify, or terminate any or all of the employee benefit plans of
the Company or any Affiliate.

 

40.         Choice
of Law. The interpretation, performance and enforcement of this Agreement shall be governed by the law of the State
of Delaware without regard to that state’s conflicts of laws rules.

 

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

 

42.         Other
Documents. You acknowledge receipt of and the right to receive a document providing the information required by Rule
428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the
Company’s Insider Trading Policy.

 

43.         Amendment.
This Agreement may not be modified, amended or terminated except by an instrument in writing, signed by you and by a duly authorized
representative of the Company. Notwithstanding the foregoing, this Agreement may be amended solely by the Board by a writing which
specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, and provided that,
except as otherwise expressly provided

 

     

     

    

 

in the Plan, no such amendment
materially adversely affecting your rights hereunder may be made without your written consent. Without limiting the foregoing,
the Board reserves the right to change, by written notice to you, the provisions of this Agreement in any way it may deem necessary
or advisable to carry out the purpose of the Award as a result of any change in applicable laws or regulations or any future law,
regulation, ruling, or judicial decision, provided that any such change shall be applicable only to rights relating to that portion
of the Award which is then subject to restrictions as provided herein.

 

44.         Compliance
with Section 409A of the Code. This Award is intended to comply with the “short-term deferral” rule
set forth in Treasury Regulation Section 1.409A-1(b)(4). Notwithstanding the foregoing, if it is determined that the Award fails
to satisfy the requirements of the short-term deferral rule and is otherwise deferred compensation subject to Section 409A, and
if you are a “Specified Employee” (within the meaning set forth in Section 409A(a)(2)(B)(i) of the Code) as of the
date of your “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h) and without regard
to any alternative definition thereunder), then the issuance of any shares that would otherwise be made upon the date of the separation
from service or within the first six (6) months thereafter will not be made on the originally scheduled date(s) and will instead
be issued in a lump sum on the date that is six (6) months and one day after the date of the separation from service, with the
balance of the shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and
only if such delay in the issuance of the shares is necessary to avoid the imposition of adverse taxation on you in respect of
the shares under Section 409A of the Code. Each installment of shares that vests is intended to constitute a “separate payment”
for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

 

* * * * *

 

This Restricted Stock Unit
Agreement shall be deemed to be signed by the Company and the Participant upon the signing by the Participant of the Restricted
Stock Unit Grant Notice to which it is attached.

 

     

     

    

 

Attachment
II

 

2015
Equity Incentive Plan

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