Document:

Execution Version

      
        
 

    

     Exhibit 10.2

    

     

    

    REGISTRATION RIGHTS AGREEMENT

    

    

    REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated as of May 26, 2021, by and between BROOKLYN
        IMMUNOTHERAPEUTICS, INC., a Delaware corporation (the "Company"), and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company (together with it permitted assigns, the “Buyer”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Purchase Agreement by and between the parties hereto,
      dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the "Purchase Agreement").

    

    

    WHEREAS:

    

    

    Subject to the terms and conditions set forth in the Purchase Agreement, the Company wishes to sell to the Investor, and the Investor wishes to buy from the Company, up to Forty Million Dollars
      ($40,000,000) of Purchase Shares.

    

    

    To induce the Buyer to enter into the Purchase Agreement, the Company has agreed to provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations
      thereunder, or any similar successor statute (collectively, the "Securities Act"), and applicable state securities laws.

    

    

    NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein and other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the Company and the Buyer hereby agree as follows:

    

    

    1.            DEFINITIONS.

    

    

    As used in this Agreement, the following terms shall have the following meanings:

    

    

    a.          "Investor" means the Buyer, any transferee or assignee thereof to whom a Buyer assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound
      by the provisions of this Agreement, and any transferee or assignee thereof to whom a transferee or assignee assigns its rights under this Agreement in accordance with Section 9 and who agrees to become bound by the provisions of this Agreement.

    

    

    b.         "Person" means any individual or entity including but not limited to any corporation, a limited liability company, an association, a partnership, an organization, a business, an
      individual, a governmental or political subdivision thereof or a governmental agency.

    

    

    c.       "Register," "registered," and "registration" refer to a registration effected by preparing and filing one or more registration statements of the Company in compliance
      with the Securities Act and pursuant to Rule 415 under the Securities Act or any successor rule providing for offering securities on a continuous basis ("Rule 415"), and the declaration or ordering of effectiveness of such registration
      statement(s) by the United States Securities and Exchange Commission (the "SEC").

    

    

    d.         "Registrable Securities" means all of the Commitment Shares and all of the Purchase Shares that may, from time to time, be issued or become issuable to the Investor under the
      Purchase Agreement (without regard to any limitation or restriction on purchases), and any and all shares of capital stock issued or issuable with respect to the Purchase Shares, the Commitment Shares or the
      Purchase Agreement as a result of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise, without regard to any limitation on purchases under the Purchase Agreement.

     

    

    
      
        

    

    
    e.          "Registration Statement" means one or more registration statements of the Company covering only the sale of the Registrable Securities.

    

    

    2.            REGISTRATION.

    

    

    a.        Mandatory Registration.  The Company shall, within twenty (20) days after the date hereof, file with the SEC an initial Registration Statement covering a number of Registrable
      Securities having a “Proposed Maximum Aggregate Offering Price” (for purposes of calculation of the registration fee) equal to $40,000,000, plus 50,000 additional Registrable Securities representing the Commitment Shares being issued to the Investor
      on the date hereof pursuant to the Purchase Agreement, so as to permit the resale of all of such Registrable Securities by the Investor under Rule 415 under the Securities Act at then prevailing market prices (and not fixed prices), subject to the
      aggregate number of authorized shares of the Company’s Common Stock then available for issuance in its Certificate of Incorporation. The initial Registration Statement shall register only the Registrable Securities. The Investor and its counsel shall
      have a reasonable opportunity to review and comment upon such Registration Statement and any amendment or supplement to such Registration Statement and any related prospectus prior to its filing with the SEC, and the Company shall give due
      consideration to all such comments.  The Investor shall furnish all information reasonably requested by the Company for inclusion therein. The Company shall use its commercially reasonable efforts to have the Registration Statement and any amendment
      declared effective by the SEC at the earliest possible date. The Company shall use commercially reasonable efforts to keep the Registration Statement effective pursuant to Rule 415 promulgated under the Securities Act and available for the resale by
      the Investor of all of the Registrable Securities covered thereby at all times until the date on which the Investor shall have resold all the Registrable Securities covered thereby and no Available Amount remains under the Purchase Agreement (the "Registration
        Period"). The Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein,
      or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading.

    

    

    b.       Rule 424 Prospectus.  The Company shall, as required by applicable securities regulations, from time to time file with the SEC, pursuant to Rule 424 promulgated under the Securities
      Act, the prospectus and prospectus supplements, if any, to be used in connection with sales of the Registrable Securities under the Registration Statement.  The Investor and its counsel shall have a reasonable opportunity to review and comment upon
      such prospectus prior to its filing with the SEC, and the Company shall give due consideration to all such comments.  The Investor shall use its commercially reasonable efforts to comment upon such prospectus within one (1) Business Day from the date
      the Investor receives the substantially complete draft of such prospectus.

    

    

    c.       Sufficient Number of Shares Registered.  In the event the number of shares available under the Registration Statement is insufficient to cover all of the Registrable Securities, the
      Company shall amend the Registration Statement or file a new Registration Statement (a ”New Registration Statement”), so as to cover all of such Registrable Securities (subject to the limitations set forth in Section 2(a)) as soon as
      practicable, but in any event not later than ten (10) Business Days after the necessity therefor arises, subject to any limits that may be imposed by the SEC pursuant to Rule 415 under the Securities Act.  The Company shall use its commercially
      reasonable efforts to cause such amendment and/or New Registration Statement to become effective as soon as practicable following the filing thereof.

     

    

    
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    d.       Offering.  If the staff of the SEC (the “Staff”) or the SEC seeks to characterize any offering pursuant to a Registration Statement filed pursuant to this Agreement as
      constituting an offering of securities that does not permit such Registration Statement to become effective and be used for resales by the Investor under Rule 415 at then-prevailing market prices (and not fixed prices), or if after the filing of the
      initial Registration Statement with the SEC pursuant to Section 2(a), the Company is otherwise required by the Staff or the SEC to reduce the number of Registrable Securities included in such initial Registration Statement, then the Company shall
      reduce the number of Registrable Securities to be included in such initial Registration Statement (with the prior consent, which shall not be unreasonably withheld, of the Investor and its legal counsel as to the specific Registrable Securities to be
      removed therefrom) until such time as the Staff and the SEC shall so permit such Registration Statement to become effective and be used as aforesaid.  In the event of any reduction in Registrable Securities pursuant to this paragraph, the Company
      shall file one or more New Registration Statements in accordance with Section 2(c) until such time as all Registrable Securities have been included in Registration Statements that have been declared effective and the prospectuses contained therein is
      available for use by the Investor.  Notwithstanding any provision herein or in the Purchase Agreement to the contrary, the Company’s obligations to register Registrable Securities (and any related conditions to the Investor’s obligations) shall be
      qualified as necessary to comport with any requirement of the SEC or the Staff as addressed in this Section 2(d).

    

    

    3.            RELATED OBLIGATIONS.

    

    

    With respect to the Registration Statement and whenever any Registrable Securities are to be registered pursuant to Section 2 including on any New Registration Statement, the Company shall use its
      commercially reasonable efforts to effect the registration of the Registrable Securities in accordance with the intended method of disposition thereof and, pursuant thereto, the Company shall have the following obligations:

    

    

    a.         The Company shall prepare and file with the SEC such amendments (including post-effective amendments) and supplements to any Registration Statement and the prospectus used in connection
      with such Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the Securities Act, as may be necessary to keep the Registration Statement or any New Registration Statement effective at all times during the
      Registration Period, and, during such period, comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities of the Company covered by the Registration Statement or any New Registration Statement until
      such time as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the Investor as set forth in such Registration Statement.

    

    

    b.         The Company shall permit the Investor to review and comment upon the Registration Statement or any New Registration Statement and all amendments and supplements thereto at least two (2)
      Business Days prior to their filing with the SEC, and not file any such document in a form to which Investor reasonably objects.  The Investor shall use its commercially reasonable efforts to comment upon the Registration Statement or any New
      Registration Statement and any amendments or supplements thereto within two (2) Business Days from the date the Investor receives the substantially complete draft thereof.  Company shall furnish to the Investor, without charge any correspondence from
      the SEC or the staff of the SEC to the Company or its representatives relating to the Registration Statement or any New Registration Statement.

    

    

    c.         Upon request of the Investor, the Company shall furnish to the Investor, (i) promptly after the same is prepared and filed with the SEC, at least one copy of such Registration Statement
      and any amendment(s) thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits, (ii) upon the effectiveness of any Registration Statement, a copy of the prospectus included in such
      Registration Statement and all amendments and supplements thereto (or such other number of copies as the Investor may reasonably request) and (iii) such other documents, including copies of any preliminary or final prospectus, as the Investor may
      reasonably request from time to time in order to facilitate the disposition of the Registrable Securities owned by the Investor. For the avoidance of doubt, any filing available to the Investor via the SEC’s live EDGAR system shall be deemed
      “furnished to the Investor” hereunder.

     

    

    
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    d.        The Company shall use commercially reasonable efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under such other securities or "blue sky"
      laws of such jurisdictions in the United States as the Investor reasonably requests, (ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations and qualifications as may
      be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
      take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify
      to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such
      jurisdiction.  The Company shall promptly notify the Investor who holds Registrable Securities of the receipt by the Company of any notification with respect to the suspension of the registration or qualification of any of the Registrable Securities
      for sale under the securities or "blue sky" laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any proceeding for such purpose.

    

    

    e.        As promptly as practicable after becoming aware of such event or facts, the Company shall notify the Investor in writing of the happening of any event or existence of such facts as a result
      of which the prospectus included in any Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in light
      of the circumstances under which they were made, not misleading, and promptly prepare a supplement or amendment to such Registration Statement to correct such untrue statement or omission, and deliver a copy of such supplement or amendment to the
      Investor (or such other number of copies as the Investor may reasonably request).  The Company shall also promptly notify the Investor in writing (i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and when
      a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to the Investor by email or facsimile on the same day of such effectiveness and by overnight mail), (ii) of any
      request by the SEC for amendments or supplements to any Registration Statement or related prospectus or related information, and (iii) of the Company's reasonable determination that a post-effective amendment to a Registration Statement would be
      appropriate.

    

    

    f.          The Company shall use its commercially reasonable efforts to prevent the issuance of any stop order or other suspension of effectiveness of any Registration Statement, or the suspension
      of the qualification of any Registrable Securities for sale in any jurisdiction and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and to notify the Investor of the
      issuance of such order and the resolution thereof or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

    

    

    g.          The Company shall (i) cause all the Registrable Securities to be listed on each securities exchange on which securities of the same class or series issued by the Company are then listed,
      if any, if the listing of such Registrable Securities is then permitted under the rules of such exchange, or (ii) secure designation and quotation of all the Registrable Securities on the Principal Market.  The Company shall pay all fees and expenses
      in connection with satisfying its obligation under this Section.

     

    

    
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    h.       The Company shall cooperate with the Investor to facilitate the timely issuance of the Registrable Securities to be offered pursuant to any Registration Statement, it being agreed that such
      Registrable Securities shall be issued as DWAC Shares and in such denominations or amounts as the Investor may reasonably request and registered in such names as the Investor may request.

    

    

    i.          The Company shall at all times provide a transfer agent and registrar with respect to its Common Stock.

    

    

    j.          If reasonably requested by the Investor, the Company shall (i) promptly incorporate in a prospectus supplement or post-effective amendment such information as the Investor believes should
      be included therein relating to the sale and distribution of Registrable Securities, including, without limitation, information with respect to the number of Registrable Securities being sold, the purchase price being paid therefor and any other
      terms of the offering of the Registrable Securities; (ii) make all required filings of such prospectus supplement or post-effective amendment as soon as practicable upon notification of the matters to be incorporated in such prospectus supplement or
      post-effective amendment; and (iii) supplement or make amendments to any Registration Statement or New Registration Statement.

    

    

    k.          The Company shall use its commercially reasonable efforts to cause the Registrable Securities covered by any Registration Statement to be registered with or approved by such other
      governmental agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities.

    

    

    l.          Within one (1) Business Day after any Registration Statement which includes the Registrable Securities is declared effective by the SEC, the Company shall deliver, and shall cause legal
      counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with copies to the Investor) confirmation that such Registration Statement has been declared effective by the SEC in the form attached hereto as Exhibit A. 

      Thereafter, if requested by the Buyer at any time, the Company shall require its counsel to deliver to the Buyer a written confirmation whether or not the effectiveness of such Registration Statement has lapsed at any time for any reason (including,
      without limitation, the issuance of a stop order) and whether or not the Registration Statement is current and available to the Buyer for sale of all of the Registrable Securities.

    

    

    m.       The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by the Investor of the Registrable Securities pursuant to any Registration Statement.

    

    

    4.            OBLIGATIONS OF THE INVESTOR.

    

    

    a.        The Company shall notify the Investor in writing of the information the Company reasonably requires from the Investor in connection with any Registration Statement hereunder.  The Investor
      shall furnish to the Company such information regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held by it as shall be reasonably required to effect the registration of such
      Registrable Securities and shall execute such documents in connection with such registration as the Company may reasonably request.

    

    

    b.          The Investor agrees to cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of any Registration Statement hereunder.

     

    

    
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    c.          The Investor agrees that, upon receipt of any notice from the Company of the happening of any event or existence of facts of the kind described in Section 3(f) or the first sentence of
      3(e), the Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement(s) covering such Registrable Securities until the Investor's receipt of the copies of a notice regarding the resolution or
      withdrawal of the stop order or suspension as contemplated by Section 3(f) or the supplemented or amended prospectus as contemplated by the first sentence of 3(e).  Notwithstanding anything to the contrary, the Company shall cause its transfer agent
      to promptly deliver shares of Common Stock without any restrictive legend in accordance with the terms of the Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor has entered into a contract for
      sale prior to the Investor's receipt of a notice from the Company of the happening of any event of the kind described in Section 3(f) or the first sentence of Section 3(e) and for which the Investor has not yet settled.

    

    

    5.            EXPENSES OF REGISTRATION.

    

    

    All reasonable expenses, other than sales or brokerage commissions, incurred in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation,
      all registration, listing and qualifications fees, printers and accounting fees, and fees and disbursements of counsel for the Company, shall be paid by the Company.

    

    

    6.            INDEMNIFICATION.

    

    

    a.       To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, the members, the directors, officers, partners, employees,
      agents, representatives of the Investor and each Person, if any, who controls the Investor within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended (the "Exchange Act") (each, an "Indemnified Person"),
      against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, attorneys' fees, amounts paid in settlement or expenses, joint or several, (collectively, "Claims") incurred in investigating, preparing or
      defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened, whether or not
      an indemnified party is or may be a party thereto ("Indemnified Damages"), to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are
      based upon: (i) any untrue statement or alleged untrue statement of a material fact in the Registration Statement, any New Registration Statement or any post-effective amendment thereto or in any filing made in connection with the qualification of
      the offering under the securities or other "blue sky" laws of any jurisdiction in which Registrable Securities are offered ("Blue Sky Filing"), or the omission or alleged omission to state a material fact required to be stated therein or
      necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement
      thereto with the SEC) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading, (iii) any
      violation or alleged violation by the Company of the Securities Act, the Exchange Act, any other law, including, without limitation, any state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable
      Securities pursuant to the Registration Statement or any New Registration Statement  or (iv) any material violation by the Company of this Agreement (the matters in the foregoing clauses (i) through (iv) being, collectively, "Violations"). 
      The Company shall reimburse each Indemnified Person promptly as such expenses are incurred and are due and payable, for any reasonable legal fees or other reasonable expenses incurred by them in connection with investigating or defending any such
      Claim.  Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation which occurs in reliance
      upon and in conformity with information about the Investor furnished in writing to the Company by any Indemnified Person expressly for use in connection with the preparation of the Registration Statement, any New Registration Statement or any such
      amendment thereof or supplement thereto or prospectus contained therein, if such Registration Statement, New Registration Statement or amendment thereof or supplement thereto or prospectus contained therein was timely made available by the Company
      pursuant to Section 3(c) or Section 3(e); (ii) with respect to any superseded prospectus, shall not inure to the benefit of any Indemnified Person from whom the Indemnified Person asserting any such Claim purchased the Registrable Securities that are
      the subject thereof (or to the benefit of any person controlling such Indemnified Person) if the untrue statement or omission of material fact contained in the superseded prospectus was corrected in the revised prospectus, as then amended or
      supplemented, if such revised prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was promptly advised in writing not to use the incorrect prospectus prior to the use giving rise to
      a violation and such Indemnified Person, notwithstanding such advice, used it; (iii) shall not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus made available by the
      Company, if such prospectus was timely made available by the Company pursuant to Section 3(c) or Section 3(e); and (iv) shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the
      Company, which consent shall not be unreasonably withheld.  Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable
      Securities by the Investor pursuant to Section 9.

     

    

    
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    b.        In connection with the Registration Statement or any New Registration Statement, the Investor agrees to indemnify, hold harmless and defend, to the same extent and in the same manner as is
      set forth in Section 6(a), the Company, each of its directors, each of its officers who signs the Registration Statement or any New Registration Statement, each Person, if any, who controls the Company within the meaning of the Securities Act or the
      Exchange Act (collectively and together with an Indemnified Person, an "Indemnified Party"), against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act or otherwise, insofar as
      such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written information about the Investor set forth on
      Exhibit B attached hereto and furnished to the Company by the Investor expressly for use in connection with such registration statement; and, subject to Section 6(d), the Investor will reimburse any legal or other expenses reasonably incurred
      by any Indemnified Party in connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect to contribution contained in Section 7 shall not
      apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Investor, which consent shall not be unreasonably withheld; provided, further, however, that the Investor shall be liable under
      this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to the Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement.  Such indemnity shall remain in
      full force and effect regardless of any investigation made by or on behalf of such Indemnified Party and shall survive the transfer of the Registrable Securities by the Investor pursuant to Section 9.

     

    

    
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    c.       Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action or proceeding (including any governmental action or
      proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written notice of the commencement
      thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel
      mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be; provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees
      and expenses to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Indemnified Party and the indemnifying party would be
      inappropriate due to actual or potential differing interests between such Indemnified Person or Indemnified Party and any other party represented by such counsel in such proceeding.  The Indemnified Party or Indemnified Person shall cooperate fully
      with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified
      Person which relates to such action or claim.  The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all times as to the status of the defense or any settlement negotiations with respect thereto.  No
      indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its written consent, provided, however, that the indemnifying party shall not unreasonably withhold, delay or condition its consent.  No
      indemnifying party shall, without the consent of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the
      claimant or plaintiff to such Indemnified Party or Indemnified Person of a release from all liability in respect to such claim or litigation.  Following indemnification as provided for hereunder, the indemnifying party shall be subrogated to all
      rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations relating to the matter for which indemnification has been made.  The failure to deliver written notice to the indemnifying party within a
      reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in
      its ability to defend such action.

    

    

    d.         The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or
      Indemnified Damages are incurred.

    

    

    e.         The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or Indemnified Person against the indemnifying party or
      others, and (ii) any liabilities the indemnifying party may be subject to pursuant to law.

    

    

    7.            CONTRIBUTION.

    

    

    To the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum contribution with respect to any amounts for which it
      would otherwise be liable under Section 6 to the fullest extent permitted by law; provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
      shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds
      received by such seller from the sale of such Registrable Securities.

    

    

    8.            REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.

    

    

    With a view to making available to the Investor the benefits of Rule 144 promulgated under the Securities Act or any other similar rule or regulation of the SEC that may at any time permit the
      Investor to sell securities of the Company to the public without registration ("Rule 144"), the Company agrees, at the Company’s sole expense, so long as the Investor owns Registrable Securities, to use commercially reasonable efforts to:

     

    

    
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    a.          make and keep public information available, as those terms are understood and defined in Rule 144;

    

    

    b.         file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act so long as the Company remains subject to such
      requirements and the filing of such reports and other documents is required for the applicable provisions of Rule 144;

    

    

    c.          furnish to the Investor so long as the Investor owns Registrable Securities, promptly upon request, (i) a written statement by the Company that it has complied with the reporting and or
      disclosure provisions of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may
      be reasonably requested to permit the Investor to sell such securities pursuant to Rule 144 without registration; and

    

    

    d.        take such additional action as is requested by the Investor to enable the Investor to sell the Registrable Securities pursuant to Rule 144, including, without limitation, delivering all
      such legal opinions, consents, certificates, resolutions and instructions to the Company’s Transfer Agent as may be requested from time to time by the Investor and otherwise fully cooperate with Investor and Investor’s broker to effect such sale of
      securities pursuant to Rule 144.

    

    

    The Company agrees that damages may be an inadequate remedy for any breach of the terms and provisions of this Section 8 and that Investor shall, whether or not it is pursuing any remedies at law, be
      entitled to seek equitable relief in the form of a preliminary or permanent injunctions, without having to post any bond or other security, upon any breach or threatened breach of any such terms or provisions.

    

    

    
      9.            ASSIGNMENT OF REGISTRATION RIGHTS.

       

        

    

    The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Investor.  The Investor may not assign its rights under this Agreement
      without the written consent of the Company, other than to an affiliate of the Investor controlled by Jonathan Cope or Josh Scheinfeld, in which case the assignee must agree in writing to be bound by the terms and conditions of this Agreement.

    

    

    10.          AMENDMENT OF REGISTRATION RIGHTS.

    

    

    No provision of this Agreement may be amended or waived by the parties from and after the date that is one Business Day immediately preceding the initial filing of the Registration Statement with the
      SEC. Subject to the immediately preceding sentence, no provision of this Agreement may be (i) amended other than by a written instrument signed by both parties hereto or (ii) waived other than in a written instrument signed by the party against whom
      enforcement of such waiver is sought. Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof.

     

    

    
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    11.          MISCELLANEOUS.

    

    

    a.        A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities.  If the Company receives conflicting
      instructions, notices or elections from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice or election received from the registered owner of such Registrable Securities.

    

    

    b.        Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered:  (i)
      upon receipt, when delivered personally; (ii) upon receipt, when sent by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iii) one (1) Business Day after
      deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same.  The addresses for such communications shall be:

    

    

    If to the Company:

    Brooklyn Immunotherapeutics, Inc.

    140 58th Street

    Building A, Suite 2100

    Brooklyn, NY 11220

    Telephone: (212) 582-1199

    E-mail:              hfederoff@brooklynitx.com

    Attention:          Howard J. Federoff, President & CEO

    

    

    With a copy to (which shall not constitute notice or service of process):

    K&L Gates LLP

    1 Park Plaza, 12th Floor

    Irvine, CA 92614

    Telephone:          (949) 623-35-92

    E-mail:                rema.awad@klgates.com

    Attention:            Rema Awad, Esq.

    

    

    If to the Investor:

    Lincoln Park Capital Fund, LLC

    440 North Wells, Suite 410

    Chicago, IL 60654

    Telephone:          (312) 822-9300

    Facsimile:           (312) 822-9301

    E-mail:                jscheinfeld@lpcfunds.com/jcope@lpcfunds.com

    Attention:           Josh Scheinfeld/Jonathan Cope

    

    

    With a copy to (which shall not constitute notice or service of process):

    Dorsey & Whitney LLP

    51 West 52nd Street

    New York, NY 10019

    Telephone:          (212) 415-9214

    Facsimile:           (212) 953-7201

    E-mail:                marsico.anthony@dorsey.com

    Attention:           Anthony J. Marsico, Esq.

     

    

    
      10

      
        

    

    or at such other address and/or facsimile number and/or to the attention of such other person as the recipient party has specified by written notice given to each other party three (3) Business Days prior to the
      effectiveness of such change.  Written confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's facsimile machine or email account
      containing the time, date, recipient facsimile number or email address, as applicable, or (C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by facsimile or email, or receipt
      from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

    

    

    c.        The corporate laws of the State of Delaware shall govern all issues concerning the relative rights of the Company and its stockholders.  All other questions concerning the construction,
      validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of Illinois, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Illinois or any other
      jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of Illinois.  Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting the State of Illinois,
      County of Cook, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any
      claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.  Each party hereby irrevocably
      waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service shall
      constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.  If any provision of this Agreement shall be invalid or
      unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any
      other jurisdiction.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS
        AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

    

    

    d.         This Agreement and the Purchase Agreement constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof.  There are no restrictions,
      promises, warranties or undertakings among the parties hereto, other than those set forth or referred to herein and therein.  This Agreement and the Purchase Agreement supersede all prior agreements and understandings among the parties hereto with
      respect to the subject matter hereof and thereof.

    

    

    e.         This Agreement is intended for the benefit of the parties hereto and any permitted successors and assigns and, except as set forth in Section 9, is not for the benefit of, nor may any
      provision hereof be enforced by, any other Person.

    

    

    f.          The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

    

    

    g.       This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement.  This Agreement, once
      executed by a party, may be delivered to the other party hereto by facsimile transmission or by e-mail in a “.pdf” format data file of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

     

    

    
      11

      
        

    

    h.         Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and
      documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

    

    

    i.          The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules of strict construction will be applied against any
      party.

    

    

    ** Signature Page Follows **

    

    

    
      12

      
        

    

    IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be duly executed as of day and year first above written.

    

    

    	 	
            THE COMPANY:

          
	 	 
	 	
            BROOKLYN IMMUNOTHERAPEUTICS, INC.

          

    

    

    	 	
            By:

          	
            /s/ Howard Federoff 

          

    	 	
            Name:

          	
            Howard Federoff

          

    	 	
            Title:

          	
            President & Chief Executive Officer

          

    

    

    	 	
            BUYER:

          
	 	 
	 	
            LINCOLN PARK CAPITAL FUND, LLC

          
	 	
            BY:

          	
            LINCOLN PARK CAPITAL, LLC

          
	 	
            BY:

          	
            ROCKLEDGE CAPITAL CORPORATION

          

    

    

    	 	
            By:

          	/s/ Josh Scheinfeld	 

    	 	
            Name:

          	
            Josh Scheinfeld

          

    	 	
            Title:

          	
            President

          

    

    

    
      13

      
        

    

    EXHIBIT A

    

    

    TO REGISTRATION RIGHTS AGREEMENT

    

    

    FORM OF NOTICE OF EFFECTIVENESS

    OF REGISTRATION STATEMENT

    

    

    [Date]

    

    

    [NAME/ADDRESS]

    

    

    Re: Brooklyn ImmunoTherapeutics, Inc.

    

    

    Ladies and Gentlemen:

    

    

    We are counsel to Brooklyn ImmunoTherapeutics, Inc., a Delaware corporation (the “Company”), and have represented the Company in connection with that certain Purchase Agreement, dated as of
      May 26, 2021 (the “Purchase Agreement”), entered into by and between the Company and Lincoln Park Capital Fund, LLC (the “Buyer”), pursuant to which the Company has issued to the Buyer an aggregate of 50,000 shares of the Company's
      common stock, par value $0.005 per share (the “Common Stock”), and may in the future issue and sell to the Buyer shares of Common Stock having an aggregate purchase price of up to Forty Million Dollars ($40,000,000) in accordance with the
      terms of the Purchase Agreement.  In connection with the transactions contemplated by the Purchase Agreement, the Company has registered with the U.S. Securities and Exchange Commission (the “SEC”) the
      following shares of Common Stock:

    

    

    	

          	(1)	
            up to 2,593,193 shares of Common Stock to be issued to the Buyer upon purchase by the Buyer from the Company from time to time (the “Purchase Shares”); and

          

    

    

    	

          	(2)	
            50,000 shares of Common Stock that have been issued to the Buyer as an initial commitment fee (the “Commitment Shares”).

          

    

    

    Pursuant to the Purchase Agreement, the Company also has entered into a Registration Rights Agreement, dated as of May 26, 2021, with the Buyer (the “Registration Rights Agreement”) pursuant
      to which the Company agreed, among other things, to register the Purchase Shares and the Commitment Shares under the Securities Act of 1933, as amended (the “Securities Act”).  In connection with the Company's obligations under the Purchase
      Agreement and the Registration Rights Agreement, on [_________], 2021, the Company filed a Registration Statement (File No. 333-[_________]) (the “Registration Statement”) with the SEC relating to the resale of the Purchase Shares and the
      Commitment Shares by the Buyer.

    

    

    In connection with the foregoing, we advise you that the SEC has entered an order declaring the Registration Statement effective under the Securities Act at [_____] [A.M./P.M.] on [__________],
      202[_] and we have no knowledge, after review of the stop order notification website maintained by the SEC, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened
      by, the SEC.  Accordingly, the Purchase Shares and the Commitment Shares may be resold by the Buyer under the Securities Act pursuant to the Registration Statement and may be issued without any restrictive legend or stop transfer orders maintained
      against them.

    

    

    Very truly yours,

     

    

    
      
        

    

    [______________]

    

    

    

    

    	 	
            By:

          	

          	 

    

    

    cc:          Lincoln Park Capital Fund, LLC

    

    

    
      
        

    

    EXHIBIT B

    

    

    TO REGISTRATION RIGHTS AGREEMENT

    

    

    Information About The Investor Furnished To The Company By The Investor

    Expressly For Use In Connection With The Registration Statement

    

    

    Information With Respect to Lincoln Park Capital

    

    

    As of the date of the Purchase Agreement, Lincoln Park Capital Fund, LLC, beneficially owned 50,000 shares of our common stock.  Josh Scheinfeld and Jonathan Cope, the Managing Members of Lincoln Park Capital, LLC, the
      manager of Lincoln Park Capital Fund, LLC, are deemed to be beneficial owners of all of the shares of common stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld have shared voting and investment power over the shares being
      offered under the prospectus filed with the SEC in connection with the transactions contemplated under the Purchase Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or an affiliate of a licensed broker dealer.Exhibit 10.3

      

     

      BROOKLYN IMMUNOTHERAPEUTICS, INC.

       2021 INDUCEMENT STOCK INCENTIVE PLAN

       

      	1.	
              ESTABLISHMENT, EFFECTIVE DATE AND TERM

            

       

      Brooklyn ImmunoTherapeutics, Inc., a Delaware corporation (the “Company”), hereby
        establishes the Brooklyn ImmunoTherapeutics, Inc. 2021 Inducement Stock Incentive Plan (the “Plan”). The “Effective Date” of the Plan shall be the date the Plan was approved by the Board. Unless earlier
        terminated pursuant to Section 14(k) hereof, the Plan shall terminate on the tenth anniversary of the Effective Date. Certain capitalized terms used herein are defined in Appendix A attached hereto.

       

      	2.	
              PURPOSE AND PERMITTED AWARDS

            

       

      The purpose of the Plan is to enable the Company to attract, retain, reward and motivate Eligible Individuals by providing an
        inducement material to Eligible Individuals’ entering into employment with the Company Group. The Plan permits the grant of Non-Qualified Stock Option, Performance Share, Performance Unit, Restricted Stock, RSUs, Stock Appreciation Right and other
        stock or cash awards as the Committee may determine. Each Award under the Plan is intended to qualify as an employment inducement award in accordance with the employment inducement grant rules set forth in Section 711(a) of the Company Guide or to
        qualify under the exception relating to plans or arrangements relating to the acquisition or merger under Section 711(c) of the Company Guide.

       

      	3.	
              ELIGIBILITY

            

       

      Awards may be granted under the Plan to any Eligible Individual, as determined by the Committee from time to time, based on their
        importance to the business of the Company, pursuant to the terms of the Plan so long as the following requirements are met:

       

      	

            	(a)	
              The Eligible Individual was not previously an employee or member of the Board of Directors, or the Eligible Individual is to become employed by the Company or any member of the Company Group following a bona-fide
                period of non-employment and non-service; and

            

       

      	

            	(b)	
              The grant of the Award or Awards to the Eligible Individual is an inducement material to the Eligible Individual’s entering into employment with the Company (or another member of the Company Group) in accordance
                with the Company Guide.

            

       

      Notwithstanding the foregoing, an Eligible Individual may be granted an Award in connection with an acquisition or merger to the extent
        permitted under Section 711(c) of the Company Guide.

       

      	4.	
              ADMINISTRATION

            

       

      	

            	(a)	
              Committee. The Plan
                  shall be administered by the Committee, which shall have the full power and authority to take all actions, and to make all determinations not inconsistent with the specific terms and provisions of the Plan, including Section 3, and deemed
                  by the Committee to be necessary or appropriate to the administration of the Plan, any Award granted or any Award Agreement entered into hereunder. The Committee may correct any defect or supply any omission or reconcile any inconsistency
                  in the Plan or in any Award Agreement in the manner and to the extent it shall deem expedient to carry the Plan into effect as it may determine in its sole discretion. The decisions by the Committee shall be final, conclusive and binding
                  with respect to the interpretation and administration of the Plan, any Award or any Award Agreement entered into under the Plan. The Committee may, in its sole discretion, accelerate the vesting, exercisability or lapse of restrictions
                  with respect to any Award, provided that the exercise of such discretion is not otherwise prohibited by the Plan or violates the requirements of the Code.

            

       

      
        
          

      

      
      	

            	(b)	
              Delegation to Officers or Employees. The Committee may designate officers or employees of the Company to assist the Committee in the administration of the Plan. The Committee may delegate authority to officers or employees of the Company to execute Award
                  Agreements or other documents on behalf of the Committee in connection with the administration of the Plan, subject to whatever limitations or restrictions the Committee may impose in accordance with applicable law and to the extent that
                  such delegation will not result in the loss of an exemption under Rule 16b‐3(d)(1) for Awards granted to Participants subject to Section 16 of the Exchange Act in respect of the Company and will not result in a related-person transaction
                  with an executive officer required to be disclosed under Item 404(a) of Regulation S-K (in accordance with Instruction 5.a.ii thereunder) under the Exchange Act. The Committee may not delegate authority to grant Awards other than in
                  accordance with Section 4(c) of the Plan.

            

       

      	

            	(c)	
              Approval. Awards
                  granted under the Plan must be approved by a majority of the Company’s independent directors, as determined in accordance with the Company Guide, or the independent Compensation Committee of the Board, in each case acting as the
                  Administrator.

            

       

      	

            	(d)	
              Designation of Advisors.
                  The Committee may designate professional advisors to assist the Committee in the administration of the Plan. The Committee may employ such legal counsel, consultants, and agents as it may deem desirable for the administration of the Plan
                  and may rely upon any advice and any computation received from any such counsel, consultant, or agent. The Company shall pay all expenses and costs incurred by the Committee for the engagement of any such counsel, consultant, or agent.

            

       

      	

            	(e)	
              Participants Outside the U.S. In order to conform with the provisions of local laws and regulations of foreign countries which may affect the Awards or the Participants, the Committee shall have the sole discretion to (i) modify the terms and conditions
                  of the Awards granted under the Plan to Eligible Individuals located outside the United States; (ii) establish subplans with such modifications as may be necessary or advisable under the circumstances present by local laws and
                  regulations; and (iii) take any action which it deems advisable to comply with or otherwise reflect any necessary governmental regulatory procedures, or to obtain any exemptions or approvals necessary with respect to the Plan or any
                  subplan established hereunder.

            

       

      	

            	(f)	
              Liability and Indemnification. No Covered Individual shall be liable for any action or determination made in good faith with respect to the Plan, any Award granted hereunder or any Award Agreement entered into hereunder. The Company shall, to the maximum
                  extent permitted by applicable law and its Certificate of Incorporation and Bylaws, indemnify and hold harmless each Covered Individual against any cost or expense (including reasonable attorney fees reasonably acceptable to the Company)
                  or liability (including any amount paid in settlement of a claim with the approval of the Company), and amounts advanced to such Covered Individual necessary to pay the foregoing at the earliest time and to the fullest extent permitted,
                  arising out of any act or omission to act in connection with the Plan, any Award granted hereunder or any Award Agreement entered into hereunder. Such indemnification shall be in addition to any rights of indemnification such individuals
                  may have under other agreements, applicable law or under the Certificate of Incorporation or Bylaws of the Company. Notwithstanding anything else herein, this indemnification will not apply to the actions or determinations made by a
                  Covered Individual with regard to Awards granted to such Covered Individual under the Plan or arising out of such Covered Individual’s own fraud or bad faith.

            

       

      
        2

        
          

      

      	5.	
              SHARES OF COMMON STOCK SUBJECT TO THE PLAN

            

       

      	

            	(a)	
              Shares Available for Awards. The Common Stock that may be issued pursuant to Awards granted under the Plan shall be treasury shares or authorized but unissued shares of the Common Stock. The total number of shares of Common Stock that may be issued
                  pursuant to Awards granted under the Plan shall be 1,500,000 shares.

            

       

      	

            	(b)	
              Reduction of Shares Available for Awards. Upon the granting of an Award, the number of shares of Common Stock available for issuance under this Section for the granting of further Awards shall be reduced as follows:

            

       

      	

            	(i)	
              In connection with the granting of an Non-Qualified Stock Option or Stock Appreciation Right, the number of shares of Common Stock shall be reduced by the number of shares of Common Stock subject to the
                Non-Qualified Stock Option or Stock Appreciation Right;

            

       

      	

            	(ii)	
              In connection with the granting of an Award that is settled in Common Stock, other than the granting of an Non-Qualified Stock Option or Stock Appreciation Right, the number of shares of Common Stock shall be
                reduced by the number of shares of Common Stock subject to the Award; and

            

       

      	

            	(iii)	
              Awards settled in cash or property other than Common Stock shall not count against the total number of shares of Common Stock available to be granted pursuant to the Plan.

            

       

      	

            	(c)	
              Cancelled, Forfeited or Surrendered Awards. Notwithstanding anything to the contrary in the Plan, if any Award is cancelled, forfeited or terminated for any reason prior to exercise, delivery or becoming vested in full, the shares of Common Stock that
                  were subject to such Award shall, to the extent cancelled, forfeited or terminated, immediately become available for future Awards granted under the Plan, as if said Awards had never been granted; provided, however, that any shares of Common Stock subject to an Award that is cancelled, forfeited or terminated in order to pay the exercise price, purchase price or any taxes or tax withholdings on an
                  Award shall not be available for future Awards granted under the Plan.

            

       

      	

            	(d)	
              Recapitalization. If
                  the outstanding shares of Common Stock are increased or decreased or changed into or exchanged for a different number or kind of shares or other securities by reason of any recapitalization, reclassification, reorganization, stock split,
                  reverse split, combination of shares, exchange of shares, stock dividend or other distribution payable in capital stock of the Company or other increase or decrease in such shares effected without receipt of consideration by the Company
                  occurring after the Effective Date, an appropriate and proportionate adjustment shall be made by the Committee including to: (i) the limits with respect to number and kind of shares (including, but not limited to, the limits of the number
                  of shares of Common Stock described in Section 5(a)), (ii) the calculation of the reduction of shares of Common Stock available under the Plan, (iii) the number and kind of shares of Common Stock issuable pursuant to outstanding Awards
                  granted under the Plan and/or (iv) the Exercise Price of outstanding Non-Qualified Stock Options or Stock Appreciation Rights granted under the Plan. No fractional shares of Common Stock or units of other securities shall be issued
                  pursuant to any such adjustment under this Section 5(d), and any fractions resulting from any such adjustment shall be eliminated in each case by rounding downward to the nearest whole share or unit.

            

       

      
        3

        
          

      

      	6.	
              NON-QUALIFIED STOCK OPTIONS

            

       

      	

            	(a)	
              Grant of Non-Qualified Stock Options. Subject to the terms and conditions of the Plan, including Section 3, the Committee may grant to such Eligible Individuals as the Committee may determine, Non-Qualified Stock Options to purchase such number of shares of
                  Common Stock and on such terms and conditions as the Committee shall determine in its sole and absolute discretion. Each grant of an Non-Qualified Stock Option shall satisfy the requirements set forth in this Section.

            

       

      	

            	(b)	
              Type of Options. No
                  options other than Non-Qualified Stock Options may be granted under the Plan.

            

       

      	

            	(c)	
              Exercise Price. The
                  Exercise Price of a Non-Qualified Stock Option shall be fixed by the Committee and stated in the respective Award Agreement, provided that the Exercise Price of the shares of
                  Common Stock subject to such Non-Qualified Stock Option may not be less than Fair Market Value of such Common Stock on the Grant Date, or if greater, the par value of the Common Stock.

            

       

      	

            	(d)	
              Limitation on Non-Qualified Stock Option Period. Any Non-Qualified Stock Options granted under the Plan and all rights to purchase Common Stock thereunder shall terminate no later than the tenth anniversary of the Grant Date of such Non-Qualified Stock
                  Option or on such earlier date as may be stated in the Award Agreement relating to such Non-Qualified Stock Option. In the case of a Non-Qualified Stock Option expiring prior to the tenth anniversary of the Grant Date, the Committee may
                  in its discretion, at any time prior to the expiration or termination of said Non-Qualified Stock Option, extend the term of such Non-Qualified Stock Options for such additional period as it may determine, but in no event beyond the tenth
                  anniversary of the Grant Date thereof.

            

       

      	

            	(e)	
              Vesting Schedule and Conditions. No Non-Qualified Stock Options may be exercised prior to the satisfaction of the conditions and vesting schedule provided for in the Plan and in the Award Agreement relating thereto. Except as otherwise provided by the
                  Committee, Non-Qualified Stock Options covered by any Award under the Plan that are subject solely to a future service requirement shall vest, subject to Sections 11 and 12 of the Plan, as follows: (i) 20% of the Non-Qualified Stock
                  Options subject to an Award shall vest immediately upon the Grant Date; and (ii) the remaining 80% of the Non-Qualified Stock Options subject to an Award shall vest over the four-year period immediately following the Grant Date in equal
                  annual increments of 20%, with one increment vesting on each anniversary date of the Grant Date.

            

       

      	

            	(f)	
              Exercise. When the
                  conditions to the exercise of an Non-Qualified Stock Option have been satisfied, the Participant may exercise the Non-Qualified Stock Option only in accordance with the following provisions. The Participant shall deliver to the Company a
                  written notice stating that the Participant is exercising the Non-Qualified Stock Option and specifying the number of shares of Common Stock which are to be purchased pursuant to the Non-Qualified Stock Option, and such notice shall be
                  accompanied by payment in full of the Exercise Price of the shares for which the Non-Qualified Stock Option is being exercised, by one or more of the methods provided for in the Plan. Said notice must be delivered to the Company at its
                  principal office and addressed to the attention of the Chief Financial Officer. An attempt to exercise any Non-Qualified Stock Option granted hereunder other than as set forth in the Plan shall be invalid and of no force and effect.

            

       

      
        4

        
          

      

      	

            	(g)	
              Payment. Payment of the
                  Exercise Price for the shares of Common Stock purchased pursuant to the exercise of an Non-Qualified Stock Option shall be made by one of the following methods:

            

       

      	

            	(i)	
              by cash, certified or cashier’s check, bank draft or money order;

            

       

      	

            	(ii)	
              through the delivery to the Company of shares of Common Stock which have been previously owned by the Participant for the requisite period necessary to avoid a charge to the Company’s earnings for financial
                reporting purposes; such shares shall be valued, for purposes of determining the extent to which the Exercise Price has been paid thereby, at their Fair Market Value on the date of exercise; without limiting the foregoing, the Committee may
                require the Participant to furnish an opinion of counsel acceptable to the Committee to the effect that such delivery would not result in the Company incurring any liability under Section 16(b) of the Exchange Act; or

            

       

      	

            	(iii)	
              by any other method which the Committee, in its sole and absolute discretion and to the extent permitted by applicable law, may permit, including, but not limited to through a “cashless exercise sale and
                remittance procedure” pursuant to which the Participant shall concurrently provide irrevocable instructions (A) to a brokerage firm approved by the Committee to effect the immediate sale of the purchased shares and remit to the Company, out
                of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable federal, state and local income, employment, excise, foreign and other taxes
                required to be withheld by the Company by reason of such exercise and (B) to the Company to deliver the certificates for the purchased shares directly to such brokerage firm in order to complete the sale.

            

       

      	

            	(h)	
              Termination of Employment. Unless otherwise provided in an Award Agreement, upon the termination of the employment of a Participant with the Company Group for any reason, all of the Participant’s outstanding Non-Qualified Stock Options (whether
                  vested or unvested) shall be subject to the rules of this paragraph. Upon such termination, the Participant’s unvested Non-Qualified Stock Options shall expire. Notwithstanding anything in the Plan to the contrary, the Committee may
                  provide, in its sole and absolute discretion, that following the termination of employment of a Participant with the Company Group for any reason (i) any unvested Non-Qualified Stock Options held by the Participant that vest solely upon a
                  future service requirement shall vest in whole or in part, at any time subsequent to such termination of employment, and/or (ii) a Participant or the Participant’s estate, devisee or heir at law (whichever is applicable), may exercise an
                  Non-Qualified Stock Option, in whole or in part, at any time subsequent to such termination of employment and prior to the termination of the Non-Qualified Stock Option pursuant to its terms that are unrelated to termination of
                  employment. Unless otherwise determined by the Committee, temporary absence from employment because of illness, vacation, approved leaves of absence or military service shall not constitute a termination of employment.

            

       

      	

            	(i)	
              Termination for Reason other than Cause, Disability or Death. If a Participant’s termination of employment is for any reason other than death, Disability,  by the Company for Cause, any Non-Qualified Stock Option held by such Participant may be
                  exercised, to the extent exercisable at termination, by the Participant at any time within a period not to exceed ninety (90) days from the date of such termination, but in no event after the termination of the Non-Qualified Stock Option
                  pursuant to its terms that are unrelated to termination of employment.

            

       

      
        5

        
          

      

      	

            	(ii)	
              Disability. If a Participant’s termination of employment with the Company is by reason of a Disability of such Participant, any Non-Qualified Stock Option held by such Participant may be exercised, to the extent exercisable at
                  termination, by the Participant at any time within a period not to exceed one (1) year after such termination, but in no event after the termination of the Non-Qualified Stock Option pursuant to its terms that are unrelated to termination
                  of employment; provided, however, that if the Participant dies within such period, any vested Non-Qualified Stock Option held by such Participant upon death shall be exercisable
                  by the Participant’s estate, devisee or heir at law (whichever is applicable) for a period not to exceed one (1) year after the Participant’s death, but in no event after the termination of the Non-Qualified Stock Option pursuant to its
                  terms that are unrelated to termination of employment.

            

       

      	

            	(iii)	
              Death. If
                  a Participant dies while in the employment of the Company Group, any Non-Qualified Stock Option held by such Participant may be exercised, to the extent exercisable at termination, by the Participant’s estate or the devisee named in the
                  Participant’s valid last will and testament or the Participant’s heir at law who inherits the Non-Qualified Stock Option, at any time within a period not to exceed one (1) year after the date of such Participant’s death, but in no event
                  after the termination of the Non-Qualified Stock Option pursuant to its terms that are unrelated to termination of employment.

            

       

      	

            	(iv)	
              Termination for Cause. In the event the termination is for Cause, any Non-Qualified Stock Option held by the Participant at the time of such termination shall be deemed to have terminated and expired upon the date of such termination.

            

       

      	7.	
              STOCK APPRECIATION RIGHTS

            

       

      	

            	(a)	
              Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, including Section 3, the Committee may grant to such Eligible Individuals as the Committee may determine, Stock Appreciation Rights, in such amounts and on such terms and
                  conditions, as the Committee shall determine in its sole and absolute discretion. Each grant of a Stock Appreciation Right shall satisfy the requirements as set forth in this Section.

            

       

      	

            	(b)	
              Terms and Conditions of Stock Appreciation Rights. Unless otherwise provided in an Award Agreement, the terms and conditions (including, without limitation, the limitations on the Exercise Price, exercise period, repricing and termination) of the Stock
                  Appreciation Right shall be substantially identical (to the extent possible taking into account the differences related to the character of the Stock Appreciation Right) to the terms and conditions that would have been applicable under
                  Section 6 above were the grant of the Stock Appreciation Rights a grant of an Non-Qualified Stock Option.

            

       

      	

            	(c)	
              Exercise of Stock Appreciation Rights. Stock Appreciation Rights shall be exercised by a Participant only by written notice delivered to the Chief Executive Officer or Chief Financial Officer of the Company, specifying the number of shares of Common Stock with
                  respect to which the Stock Appreciation Right is being exercised.

            

       

      	

            	(d)	
              Payment of Stock Appreciation Right. Unless otherwise provided in an Award Agreement, upon exercise of a Stock Appreciation Right, the Participant or Participant’s estate, devisee or heir at law (whichever is applicable) shall be entitled to receive payment,
                  in cash, in shares of Common Stock, or in a combination thereof, as determined by the Committee in its sole and absolute discretion. The amount of such payment shall be determined by multiplying the excess, if any, of the Fair Market
                  Value of a share of Common Stock on the date of exercise over the Fair Market Value of a share of Common Stock on the Grant Date, by the number of shares of Common Stock with respect to which the Stock Appreciation Rights are then being
                  exercised. Notwithstanding the foregoing, the Committee may limit in any manner the amount payable with respect to a Stock Appreciation Right by including such limitation in the Award Agreement.

            

       

      
        6

        
          

      

      	8.	
              RESTRICTED STOCK

            

       

      	

            	(a)	
              Grant of Restricted Stock. Subject to the terms and conditions of the Plan, including Section 3, the Committee may grant to such Eligible Individuals as the Committee may determine, Restricted Stock, in such amounts and on such terms and conditions
                  as the Committee shall determine in its sole and absolute discretion. Each grant of Restricted Stock shall satisfy the requirements as set forth in this Section.

            

       

      	

            	(b)	
              Restrictions. The
                  Committee shall impose such restrictions on any Restricted Stock granted pursuant to the Plan as it may deem advisable including, without limitation, time-based vesting restrictions or the attainment of Performance Goals. Except as
                  otherwise provided by the Committee in its sole and absolute discretion and subject to Sections 11 and 12 of the Plan, Restricted Stock covered by any Award under the Plan that are subject solely to a future service requirement shall vest
                  over the four-year period immediately following the Grant Date in equal annual increments of 25%, with one increment vesting on each anniversary date of the Grant Date.

            

       

      	

            	(c)	
              Certificates and Certificate Legend. With respect to a grant of Restricted Stock, the Company may issue a certificate evidencing such Restricted Stock to the Participant or issue and hold such shares of Restricted Stock for the benefit of the Participant until
                  the applicable restrictions expire. The Company may legend the certificate representing Restricted Stock to give appropriate notice of such restrictions. In addition to any such legends, each certificate representing shares of Restricted
                  Stock granted pursuant to the Plan shall bear the following legend:

            

       

      “Shares of stock represented by this certificate are subject to certain terms, conditions, and restrictions on
        transfer as set forth in the Brooklyn ImmunoTherapeutics, Inc. 2021 Inducement Stock Incentive Plan (the “Plan”), and in an agreement entered into by and between the registered owner of such shares and
        Brooklyn ImmunoTherapeutics, Inc. (the “Company”), dated                   , 20    (the “Award Agreement”). A copy of the Plan and the Award Agreement may be
        obtained from the Secretary of the Company.”

       

      	

            	(d)	
              Removal of Restrictions.
                  Except as otherwise provided in the Plan or the Award Agreement, shares of Restricted Stock shall become freely transferable by the Participant upon the lapse of the applicable restrictions. Once the shares of Restricted Stock are
                  released from the restrictions, the Participant shall be entitled to have the legend required by paragraph (c) above removed from the share certificate evidencing such Restricted Stock and the Company shall pay or distribute to the
                  Participant all dividends and distributions held in escrow by the Company with respect to such Restricted Stock, if any.

            

       

      	

            	(e)	
              Stockholder Rights.
                  Unless otherwise provided in an Award Agreement, until the expiration of all applicable restrictions, (i) the Restricted Stock shall be treated as outstanding, (ii) the Participant holding shares of Restricted Stock may exercise full
                  voting rights with respect to such shares, and (iii) the Participant holding shares of Restricted Stock shall be entitled to receive all dividends and other distributions paid with respect to such shares while they are so held. All
                  dividends and distributions shall be held in escrow by the Company (subject to the same restrictions on forfeitability) until all restrictions on the respective Restricted Stock have lapsed. If any such dividends or distributions are paid
                  in shares of Common Stock, such shares shall be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid.

            

       

      
        7

        
          

      

      	

            	(f)	
              Termination of Employment. Unless otherwise provided in an Award Agreement, if a Participant’s employment with the Company Group terminates for any reason, all unvested shares of Restricted Stock held by the Participant and any dividends or
                  distributions held in escrow by the Company with respect to such Restricted Stock shall be forfeited immediately and returned to the Company. Notwithstanding this paragraph, all grants of Restricted Stock that vest solely upon the
                  attainment of Performance Goals shall be treated pursuant to the terms and conditions that would have been applicable under Section 9 hereof as if such grants of Restricted Stock were Awards of Performance Shares, to the extent such terms
                  and conditions are applicable to shares of Restricted Stock. Notwithstanding anything in the Plan to the contrary, the Committee may provide, in its sole and absolute discretion, that following the termination of employment of a
                  Participant with the Company for any reason, any unvested shares of Restricted Stock held by the Participant that vest solely upon a future service requirement shall vest in whole or in part, at any time subsequent to such termination of
                  employment.

            

       

      	9.	
              PERFORMANCE SHARES, PERFORMANCE UNITS AND RSUs

            

       

      	

            	(a)	
              Grant of Performance Shares, Performance Units and RSUs. Subject to the terms and conditions of the Plan, including Section 3, the Committee may grant to such Eligible Individuals as the Committee may determine, Performance Shares, Performance
                  Units and RSUs, in such amounts and on such terms and conditions as the Committee shall determine in its sole and absolute discretion. Each grant of a Performance Share, a Performance Unit or an RSU shall satisfy the requirements as set
                  forth in this Section.

            

       

      	

            	(b)	
              Performance Goals.
                  Performance Goals will be based on one or more of the following criteria, as determined by the Committee in its absolute and sole discretion: (i) the attainment of certain target levels of, or a specified increase in, the Company’s
                  enterprise value or value creation targets; (ii) the attainment of certain target levels of, or a percentage increase in, the Company’s after-tax or pre-tax profits including, without limitation, that attributable to the Company’s
                  continuing and/or other operations; (iii) the attainment of certain target levels of, or a specified increase relating to, the Company’s operational cash flow or working capital, or a component thereof; (iv) the attainment of certain
                  target levels of, or a specified decrease relating to, the Company’s operational costs, or a component thereof; (v) the attainment of a certain level of reduction of, or other specified objectives with regard to limiting the level of
                  increase in all or a portion of bank debt or other of the Company’s long-term or short-term public or private debt or other similar financial obligations of the Company, which may be calculated net of cash balances and/or other offsets
                  and adjustments as may be established by the Committee; (vi) the attainment of a specified percentage increase in earnings per share or earnings per share from the Company’s continuing operations; (vii) the attainment of certain target
                  levels of, or a specified percentage increase in, the Company’s net sales, revenues, net income or earnings before income tax or other exclusions; (viii) the attainment of certain target levels of, or a specified increase in, the
                  Company’s return on capital employed or return on invested capital; (ix) the attainment of certain target levels of, or a percentage increase in, the Company’s after-tax or pre-tax return on stockholder equity; (x) the attainment of
                  certain target levels in the fair market value of the Company’s Common Stock; (xi) the growth in the value of an investment in the Common Stock assuming the reinvestment of dividends; (xii) the attainment of certain target levels of, or a
                  specified increase in, EBITDA (earnings before income tax, depreciation and amortization); and/or attainment of synergies and cost reductions in connection with mergers, acquisitions and similar corporate transactions involving the
                  Company. In addition, Performance Goals may be based upon the attainment by a subsidiary, division or other operational unit of the Company of specified levels of performance under one or more of the measures described above. Further, the
                  Performance Goals may be based upon the attainment by the Company (or a subsidiary, division, facility or other operational unit of the Company) of specified levels of performance under one or more of the foregoing measures relative to
                  the performance of other corporations. Performance Goals may include a threshold level of performance below which no Award will be earned, levels of performance at which an Award will become partially earned and a level at which an Award
                  will be fully earned.

            

       

      
        8

        
          

      

      	

            	(c)	
              Terms and Conditions.

            

       

      	

            	(i)	
              Performance Shares and Performance Units. The applicable Award Agreement shall set forth (A) the number of Performance Shares or the dollar value of Performance Units granted to the Participant; (B) the Performance Period and
                  Performance Goals with respect to each such Award; (C) the threshold, target and maximum shares of Common Stock or dollar values of each Performance Share or Performance Unit and corresponding Performance Goals; and (D) any other terms
                  and conditions as the Committee determines in its sole and absolute discretion. The Committee shall establish, in its sole and absolute discretion, the Performance Goals for the applicable Performance Period for each Performance Share or
                  Performance; Unit granted hereunder. Performance Goals for different Participants and for different grants of Performance Shares and Performance Units need not be identical. Unless otherwise provided in an Award Agreement, a holder of
                  Performance Shares or Performance Units is not entitled to the rights of a holder of Common Stock.

            

       

      	

            	(ii)	
              RSUs. The
                  applicable Award Agreement shall set forth such terms and conditions with respect to the RSUs as the Committee may impose, including restrictions on transferability, risk of forfeiture and other restrictions, if any, which restrictions
                  may lapse separately or in combination at such times, under such circumstances, in such installments or otherwise and under such other circumstances as the Committee may determine at the date of grant or thereafter.

            

       

      	

            	(d)	
              Determination and Payment.

            

       

      	

            	(i)	
              Performance Shares or Performance Units Earned. Following the end of a Performance Period, the Committee shall determine the extent to which Performance Shares or Performance Units have been earned on the basis of the Company’s actual
                  performance in relation to the established Performance Goals as set forth in the applicable Award Agreement and shall certify these results in writing. Unless otherwise provided in the Award Agreement, the payment with respect to
                  Performance Shares or Performance Units shall be made within 60 days following the end of the applicable Performance Period. Unless otherwise provided in an Award Agreement, the Committee shall determine in its sole and absolute
                  discretion whether payment with respect to the Performance Share or Performance Unit shall be made in cash, in shares of Common Stock, or in a combination thereof.

            

       

      	

            	(ii)	
              RSUs. Unless
                  provided otherwise in the Award Agreement, Restricted Stock Units shall be paid within 60 days following the date on which the restrictions on the RSUs lapse.

            

       

      	

            	(e)	
              Termination of Employment. Unless otherwise provided in an Award Agreement, if a Participant’s employment with the Company Group terminates for any reason, all of the Participant’s outstanding RSUs that remain subject to restrictions as of the date
                  of such termination shall be forfeited and Performance Shares and Performance Units shall be subject to the rules of paragraph (i) and (ii) of this Section 9(e).

            

       

      
        9

        
          

      

      	

            	(i)	
              Termination for Reason Other Than Death or Disability. If a Participant’s employment with the Company Group terminates prior to the expiration of a Performance Period with respect to any Performance Units or Performance Shares held by such
                  Participant for any reason other than death or Disability, the outstanding Performance Units or Performance Shares held by such Participant for which the Performance Period has not yet expired shall terminate upon such termination and the
                  Participant shall have no further rights pursuant to such Performance Units or Performance Shares.

            

       

      	

            	(ii)	
              Termination of Employment for Death or Disability. If a Participant’s employment with the Company Group terminates by reason of the Participant’s death or Disability prior to the end of a Performance Period, the Participant, or the
                  Participant’s estate, devisee or heir at law (whichever is applicable) shall be entitled to a payment of the Participant’s outstanding Performance Units and Performance Shares, pursuant to the terms of the Plan and the Participant’s Award
                  Agreement; provided, however, that the Participant shall be deemed to have earned only that proportion (to the nearest whole unit or share) of the Performance Units or Performance
                  Shares granted to the Participant under such Award as the number of full months of the Performance Period which have elapsed since the first day of the Performance Period for which the Award was granted to the end of the month in which
                  the Participant’s termination of employment, bears to the total number of months in the Performance Period, subject to the attainment of the Performance Goals associated with the Award as certified by the Committee. The remaining
                  Performance Units or Performance Shares and any rights with respect thereto shall be canceled and forfeited.

            

       

      	10.	
              OTHER AWARDS

            

       

      Awards of shares of Common Stock, phantom stock and other Awards that are valued in whole or in part by reference to, or otherwise
        based on, Common Stock, may also be made, from time to time, to Eligible Individuals as may be selected by the Committee. Such Awards may be issued in satisfaction of Awards granted under any other plan sponsored by the Company or compensation
        payable to an Eligible Individual. In addition, such Awards may be made alone or in addition to or in connection with any other Award granted hereunder. The Committee may determine the terms and conditions of any such Award, including conditioning
        such Awards on achievement of Performance Goals. Each such Award shall be evidenced by an Award Agreement between the Eligible Individual and the Company which shall specify the number of shares of Common Stock subject to the Award, any
        consideration therefore, any vesting or performance requirements and such other terms and conditions as the Committee shall determine in its sole and absolute discretion.

       

      	11.	
              CHANGE IN CONTROL

            

       

      Upon the occurrence of a Change in Control of the Company, the Committee may in its sole and absolute discretion, provide on a case by
        case basis that (i) some or all outstanding Awards may become immediately exercisable or vested, without regard to any limitation imposed pursuant to the Plan, (ii) that all Awards shall terminate, provided that Participants shall have the right,
        immediately prior to the occurrence of such Change in Control and during such reasonable period as the Committee in its sole discretion shall determine and designate, to exercise any vested Award in whole or in part, (iii) that all Awards shall
        terminate, provided that Participants shall be entitled to a cash payment equal to the Change in Control Price with respect to shares subject to the vested portion of the Award net of the Exercise Price thereof, if applicable, (iv) provide that, in
        connection with a liquidation or dissolution of the Company, Awards, to the extent vested, shall convert into the right to receive liquidation proceeds net of the Exercise Price (if applicable), (v) accelerate the vesting of Awards, and (vi) any
        combination of the foregoing. In the event that the Committee does not terminate or convert an Award upon a Change in Control of the Company, then the Award shall be assumed, or substantially equivalent Awards shall be substituted, by the
        acquiring, or succeeding corporation (or an affiliate thereof).

       

      
        10

        
          

      

      	12.	
              CHANGE IN STATUS OF PARENT OR SUBSIDIARY

            

       

      Unless otherwise provided in an Award Agreement or otherwise determined by the Committee, in the event that an entity or business unit
        which was previously a part of the Company is no longer a part of the Company, as determined by the Committee in its sole discretion, the Committee may, in its sole and absolute discretion: (i) provide on a case by case basis that some or all
        outstanding Awards held by a Participant employed by or performing service for such entity or business unit may become immediately exercisable or vested, without regard to any limitation imposed pursuant to the Plan; (ii) provide on a case by case
        basis that some or all outstanding Awards held by a Participant employed by or performing service for such entity or business unit may remain outstanding, may continue to vest, and/or may remain exercisable for a period not exceeding one year,
        subject to the terms of the Award Agreement and the Plan; and/or (iii) treat the employment of a Participant performing services for such entity or business unit as terminated if such Participant is not employed by Company or any entity that is a
        part of the Company Group immediately after such event.

       

      	13.	
              REQUIREMENTS OF LAW

            

       

      	

            	(a)	
              Violations of Law. The
                  Company shall not be required to make any payments, sell or issue any shares of Common Stock under any Award if the sale or issuance of such shares would constitute a violation by the individual exercising the Award, the Participant or
                  the Company of any provisions of any law or regulation of any governmental authority, including without limitation any provisions of the Sarbanes-Oxley Act, and any other federal or state securities laws or regulations. Any determination
                  in this connection by the Committee shall be final, binding, and conclusive. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Award, the issuance of shares pursuant thereto, or the
                  grant of an Award to comply with any law or regulation of any governmental authority.

            

       

      	

            	(b)	
              Registration. At the
                  time of any exercise or receipt of any Award, the Company may, if it shall determine it necessary or desirable for any reason, require the Participant (or Participant’s heirs, legatees or legal representative, as the case may be), as a
                  condition to the exercise or grant thereof, to deliver to the Company a written representation of present intention to hold the shares for their own account as an investment and not with a view to, or for sale in connection with, the
                  distribution of such shares, except in compliance with applicable federal and state securities laws with respect thereto. In the event such representation is required to be delivered, an appropriate legend may be placed upon each
                  certificate delivered to the Participant (or Participant’s heirs, legatees or legal representative, as the case may be) upon the Participant’s exercise of part or all of the Award or receipt of an Award and a stop transfer order may be
                  placed with the transfer agent. Each Award shall also be subject to the requirement that, if at any time the Company determines, in its discretion, that the listing, registration or qualification of the shares subject to the Award upon
                  any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of or in connection with, the issuance or purchase of the shares
                  thereunder, the Award may not be exercised in whole or in part and the restrictions on an Award may not be removed unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any
                  conditions not acceptable to the Company in its sole discretion. The Participant shall provide the Company with any certificates, representations and information that the Company requests and shall otherwise cooperate with the Company in
                  obtaining any listing, registration, qualification, consent or approval that the Company deems necessary or appropriate. The Company shall not be obligated to take any affirmative action in order to cause the exercisability or vesting of
                  an Award, to cause the exercise of an Award or the issuance of shares pursuant thereto, or to cause the grant of Award to comply with any law or regulation of any governmental authority.

            

       

      
        11

        
          

      

      	

            	(c)	
              Withholding. The
                  Committee may make such provisions and take such steps as it may deem necessary or appropriate for the withholding of any taxes that the Company is required by any law or regulation of any governmental authority, whether federal, state or
                  local, domestic or foreign, to withhold in connection with the grant or exercise of an Award, or the removal of restrictions on an Award including, but not limited to: (i) the withholding of delivery of shares of Common Stock until the
                  holder reimburses the Company for the amount the Company is required to withhold with respect to such taxes; (ii) the canceling of any number of shares of Common Stock issuable in an amount sufficient to reimburse the Company for the
                  amount it is required to so withhold; (iii) withholding the amount due from any such person’s wages or compensation due to such person; or (iv) requiring the Participant to pay the Company cash in the amount the Company is required to
                  withhold with respect to such taxes.

            

       

      	

            	(d)	
              Governing Law. The Plan
                  shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware.

            

       

      	14.	
              GENERAL PROVISIONS

            

       

      	

            	(a)	
              Award Agreements. All
                  Awards granted pursuant to the Plan shall be evidenced by an Award Agreement. Each Award Agreement shall specify the terms and conditions of the Award granted and shall contain any additional provisions as the Committee shall deem
                  appropriate, in its sole and absolute discretion (including, to the extent that the Committee deems appropriate, provisions relating to confidentiality, non-competition, non-solicitation and similar matters). The terms of each Award
                  Agreement need not be identical for Eligible Individuals provided that each Award Agreement shall comply with the terms of the Plan.

            

       

      	

            	(b)	
              Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16 pursuant to an applicable exemption
                  (except for transactions acknowledged in writing to be non-exempt by such Participant and sales transactions to persons other than the Company). Accordingly, if any provision of the Plan or any Award Agreement does not comply with the
                  requirements of Rule 16b-3 then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid
                  liability under Section 16(b). In the event Rule 16b-3 is revised or replaced, the Board, or the Committee acting on behalf of the Board, may exercise discretion to modify the Plan in any respect necessary to satisfy the requirements of
                  the revised exemption or its replacement.

            

       

      	

            	(c)	
              Purchase Price. To the
                  extent the purchase price of any Award granted hereunder is less than par value of a share of Common Stock and such purchase price is not permitted by applicable law, the per share purchase price shall be deemed to be equal to the par
                  value of a share of Common Stock.

            

       

      
        12

        
          

      

      	

            	(d)	
              Deferral of Awards. The
                  Committee may from time to time establish procedures pursuant to which a Participant may elect to defer, until a time or times later than the vesting of an Award, receipt of all or a portion of the shares of Common Stock or cash subject
                  to such Award and to receive Common Stock or cash at such later time or times, all on such terms and conditions as the Committee shall determine. The Committee shall not permit the deferral of an Award unless counsel for the Company
                  determines that such action will not result in adverse tax consequences to a Participant under Section 409A of the Code. If any such deferrals are permitted, then notwithstanding anything to the contrary herein, a Participant who elects
                  to defer receipt of Common Stock shall not have any rights as a stockholder with respect to deferred shares of Common Stock unless and until shares of Common Stock are actually delivered to the Participant with respect thereto, except to
                  the extent otherwise determined by the Committee.

            

       

      	

            	(e)	
              Prospective Employees.
                  Notwithstanding anything to the contrary, any Award granted to a Prospective Employee shall not become vested prior to the date the Prospective Employee first becomes an employee of the Company.

            

       

      	

            	(f)	
              Stockholder Rights.
                  Except as expressly provided in the Plan or an Award Agreement, a Participant shall not have any of the rights of a stockholder with respect to Common Stock subject to the Awards prior to satisfaction of all conditions relating to the
                  issuance of such Common Stock, and no adjustment shall be made for dividends, distributions or other rights of any kind for which the record date is prior to the date on which all such conditions have been satisfied.

            

       

      	

            	(g)	
              Transferability of Awards. A Participant may not Transfer an Award other than by will or the laws of descent and distribution. Awards may be exercised during the Participant’s lifetime only by the Participant. No Award shall be liable for or subject
                  to the debts, contracts, or liabilities of any Participant, nor shall any Award be subject to legal process or attachment for or against such person. Any purported Transfer of an Award in contravention of the provisions of the Plan shall
                  have no force or effect and shall be null and void, and the purported transferee of such Award shall not acquire any rights with respect to such Award. Notwithstanding anything to the contrary, the Committee may in its sole and absolute
                  discretion permit the Transfer of an Award to a Participant’s “family member” as such term is defined in the Form S-8 Registration Statement under the Securities Act of 1933, as amended, under such terms and conditions as specified by the
                  Committee; provided, however, that the Participant will not directly or indirectly receive any payment of value in connection with the transfer of the Award. In such case, such
                  Award shall be exercisable only by the transferee approved of by the Committee.

            

       

      	

            	(h)	
              Buyout and Settlement Provisions. Except as prohibited hereunder, the Committee may at any time on behalf of the Company offer to buy out any Awards previously granted based on such terms and conditions as the Committee shall determine which shall be
                  communicated to the Participants at the time such offer is made.

            

       

      	

            	(i)	
              Use of Proceeds. The
                  proceeds received by the Company from the sale of Common Stock pursuant to Awards granted under the Plan shall constitute general funds of Company.

            

       

      	

            	(j)	
              Modification or Substitution of an Award.

            

       

      	

            	(i)	
              Generally. Subject to the terms and conditions of the Plan, the Award Agreement and applicable law (including the Code), the Committee may modify outstanding Awards, provided that, except as permitted in the Plan or the applicable
                  Award Agreement, no modification of an Award shall materially adversely affect any rights or obligations of the Participant under the applicable Award Agreement without the Participant’s consent. Nothing in the Plan shall limit the right
                  of the Company to pay compensation of any kind outside the terms of the Plan.

            

       

      
        13

        
          

      

      	

            	(ii)	
              Limitation on Repricing. Unless such action is approved by the Company’s shareholders in accordance with applicable law: (A) no outstanding Non-Qualified Stock Option or Stock Appreciation Right granted under the Plan may be amended to provide
                  an Exercise Price that is lower than the then-current Exercise Price of such outstanding Non-Qualified Stock Option or Stock Appreciation Right (other than adjustments to the Exercise Price pursuant to Sections 5(d) and 11 hereof); (B)
                  the Committee may not cancel any outstanding Non-Qualified Stock Option or Stock Appreciation Right when its Exercise Price is equal to or greater than the Fair Market Value of the underlying Common Stock and grant in substitution
                  therefore new Awards, equity, cash or other property (other than adjustments pursuant to Section 11 hereof); (C) the Committee may not authorize the repurchase of an outstanding Non-Qualified Stock Option or Stock Appreciation Right which
                  has an Exercise Price that is higher than the then-current fair market value of the Common Stock (other than adjustments pursuant to Section 11 hereof); (D) the Committee may not cancel any outstanding Non-Qualified Stock Option or Stock
                  Appreciation Right and grant in substitution therefore new Awards as part of a strategy to materially enhance the position of the holder of such Non-Qualified Stock Options or Stock Appreciation Rights with respect to their value as of
                  the time of such substitution (other than adjustments pursuant to Section 5(d) hereof), and (E) the Committee may not take any other action that is treated as a repricing under generally accepted accounting principles (other than
                  adjustments pursuant to Sections 5(d) and 11 hereof). A cancellation and exchange or substitution described in clauses (B) and (D) of the preceding sentence will be considered a repricing regardless of whether the Non-Qualified Stock
                  Option, Restricted Stock or other equity is delivered simultaneously with the cancellation, regardless of whether it is treated as a repricing under generally accepted accounting principles, and regardless of whether it is voluntary on
                  the part of the Participant.

            

       

      	

            	(k)	
              Amendment and Termination of Plan. The Board may, at any time and from time to time, amend, suspend or terminate the Plan as to any shares of Common Stock as to which Awards have not been granted; provided,
                    however, that the approval of the stockholders of the Company in accordance with applicable law and the Articles of Incorporation and Bylaws of the Company shall be required for any amendment (other than those permitted under
                  Section 5 or 11): (i) that changes the class of individuals eligible to receive Awards under the Plan; (ii) that increases the maximum number of shares of Common Stock in the aggregate that may be subject to Awards that are granted under
                  the Plan (except as permitted under Section 5 or Section 11 hereof); (iii) the approval of which is necessary to comply with federal or state law (including without limitation Rule 16b-3 under the Exchange Act) or with the rules of any
                  stock exchange or automated quotation system on which the Common Stock may be listed or traded; or (iv) that proposes to eliminate a requirement provided herein that the stockholders of the Company must approve an action to be undertaken
                  under the Plan. Except as expressly provided in the Plan, no amendment, suspension or termination of the Plan shall, without the consent of the holder of an Award, alter or impair rights or obligations under any Award theretofore granted
                  under the Plan. Awards granted prior to the termination of the Plan may extend beyond the date the Plan is terminated and shall continue subject to the terms of the Plan as in effect on the date the Plan is terminated.

            

       

      	

            	(l)	
              Section 409A of the Code. The Award Agreement for any Award that the Committee reasonably determines to constitute “nonqualified” deferred compensation plan” under Code Section 409A (a “Section 409A Plan”),
                  and the provisions of the Plan applicable to that Award, shall be construed in a manner consistent with the applicable requirements of Code Section 409A, and the Committee, in its sole discretion and without the consent of any
                  Participant, may amend any Award Agreement (and the provisions of the Plan applicable thereto) if and to the extent that the Committee determines that such amendment is necessary or appropriate to comply with the requirements of Code
                  Section 409A. If any Award constitutes a Section 409A Plan, then the Award shall be subject to the following additional requirements, if and to the extent required to comply with Code Section 409A:

            

       

      
        14

        
          

      

      	

            	(i)	
              Payments under the Section 409A Plan may not be made earlier than (A) the Participant’s “separation from service”, (B) the date the Participant becomes “disabled”, (C) the Participant’s death, (D) a “specified
                time (or pursuant to a fixed schedule)” specified in the Award Agreement at the date of the deferral of such compensation, (E) a “change in the ownership or effective control of the corporation, or in the ownership of a substantial portion
                of the assets: of the corporation, or (F) the occurrence of an “unforeseeable emergency”;

            

       

      	

            	(ii)	
              The time or schedule for any payment of the deferred compensation may not be accelerated, except to the extent provided in applicable Treasury Regulations or other applicable guidance issued by the Internal
                Revenue Service;

            

       

      	

            	(iii)	
              Any elections with respect to the deferral of such compensation or the time and form of distribution of such deferred compensation shall comply with the requirements of Code Section 409A(a)(4); and

            

       

      	

            	(iv)	
              In the case of any Participant who is a “specified employee”, a distribution on account of a “separation from service” may not be made before the date which is six months after the date of the Participant’s
                “separation from service” (or, if earlier, the date of the Participant’s death).

            

       

      	

            	(v)	
              For purposes of the foregoing, the terms in quotations shall have the same meanings as those terms have for purposes of Code Section 409A, and the limitations set forth herein shall be applied in such manner (and
                only to the extent) as shall be necessary to comply with any requirements of Code Section 409A that are applicable to the Award.

            

       

      	

            	(m)	
              Notification of 83(b) Election. If in connection with the grant of any Award, any Participant makes an election permitted under Code Section 83(b), such Participant must notify the Company in writing of such election within ten days of filing such
                  election with the Internal Revenue Service.

            

       

      	

            	(n)	
              Detrimental Activity.
                  All Awards shall be subject to cancellation by the Committee in accordance with the terms of this Section 14(n) if the Participant engages in any Detrimental Activity. To the extent that a Participant engages in any Detrimental Activity
                  at any time prior to, or during the one year period after, any exercise or vesting of an Award but prior to a Change in Control, the Company shall, upon the recommendation of the Committee, in its sole and absolute discretion, be entitled
                  to (i) immediately terminate and cancel any Awards held by the Participant that have not yet been exercised, and/or (ii) with respect to Awards of the Participant that have been previously exercised, recover from the Participant at any
                  time within two years after such exercise but prior to a Change in Control (and the Participant shall be obligated to pay over to the Company with respect to any such Award previously held by such Participant): (A) with respect to any
                  Non-Qualified Stock Options exercised, an amount equal to the excess of the Fair Market Value of the Common Stock for which any Non-Qualified Stock Option was exercised over the Exercise Price paid (regardless of the form by which payment
                  was made) with respect to such Non-Qualified Stock Option; (B) with respect to any Award other than an Non-Qualified Stock Option, any shares of Common Stock granted and vested pursuant to such Award, and if such shares are not still
                  owned by the Participant, the Fair Market Value of such shares on the date they were issued, or if later, the date all vesting restrictions were satisfied; and (C) any cash or other property (other than Common Stock) received by the
                  Participant from the Company pursuant to an Award. Without limiting the generality of the foregoing, in the event that a Participant engages in any Detrimental Activity at any time prior to any exercise of an Award and the Company
                  exercises its remedies pursuant to this Section 14(n) following the exercise of such Award, such exercise shall be treated as having been null and void, provided that the Company will nevertheless be entitled to recover the amounts
                  referenced above.

            

       

      
        15

        
          

      

      	

            	(o)	
              Disclaimer of Rights.
                  No provision in the Plan, any Award granted hereunder, or any Award Agreement entered into pursuant to the Plan shall be construed to confer upon any individual the right to remain in the employ of  the Company Group or to interfere in
                  any way with the right and authority of the Company either to increase or decrease the compensation of any individual, including any holder of an Award, at any time, or to terminate any employment or other relationship between any
                  individual and the Company. The grant of an Award pursuant to the Plan shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business
                  structure or to merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or assets.

            

       

      	

            	(p)	
              Unfunded Status of Plan.
                  The Plan is intended to constitute an “unfunded” plan for incentive and deferred compensation. With respect to any payments as to which a Participant has a fixed and vested interest but which are not yet made to such Participant by the
                  Company, nothing contained herein shall give any such Participant any rights that are greater than those of a general creditor of the Company

            

       

      	

            	(q)	
              Nonexclusivity of Plan.
                  The Non-Qualified Stock Option of the Plan shall not be construed as creating any limitations upon the right and authority of the Board to adopt such other incentive compensation arrangements (which arrangements may be applicable either
                  generally to a class or classes of individuals or specifically to a particular individual or individuals) as the Board in its sole and absolute discretion determines desirable.

            

       

      	

            	(r)	
              Other Benefits. No
                  Award payment under the Plan shall be deemed compensation for purposes of computing benefits under any retirement plan of the Company or any agreement between a Participant and the Company, nor affect any benefits under any other benefit
                  plan of the Company now or subsequently in effect under which benefits are based upon a Participant’s level of compensation.

            

       

      	

            	(s)	
              Headings. The section
                  headings in the Plan are for convenience only; they form no part of this Agreement and shall not affect its interpretation.

            

       

      	

            	(t)	
              Pronouns. The use of
                  any gender in the Plan shall be deemed to include all genders, and the use of the singular shall be deemed to include the plural and vice versa, wherever it appears appropriate from the context.

            

       

      	

            	(u)	
              Successors and Assigns.
                  The Plan shall be binding on all successors of the Company and all successors and permitted assigns of a Participant, including, but not limited to, a Participant’s estate, devisee, or heir at law.

            

       

      	

            	(v)	
              Severability. If any
                  provision of the Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with
                  their terms, and all provisions shall remain enforceable in any other jurisdiction.

            

       

      
        16

        
          

      

      	

            	(w)	
              Notices. Any
                  communication or notice required or permitted to be given under the Plan shall be in writing, and mailed by registered or certified mail or delivered by hand, to the Company, to its principal place of business, attention: Chief Financial
                  Officer and if to the holder of an Award, to the address as appearing on the records of the Company.

            

       

      
        17

        
          

      

      
      APPENDIX A

       

      DEFINITIONS

       

      “Award” means any Common Stock, Non-Qualified Stock Option, Performance Share, Performance
        Unit, Restricted Stock, RSUs, Stock Appreciation Right or any other award granted pursuant to the Plan.

       

      “Award Agreement” means a written agreement entered into by the Company and a Participant
        setting forth the terms and conditions of the grant of an Award to such Participant.

       

      “Board” means the board of directors of the Company.

       

      “Cause” means, with respect to a termination of employment with the Company Group, a
        termination of employment due to a Participant’s dishonesty, fraud, insubordination, willful misconduct, refusal to perform services (for any reason other than illness or incapacity) or materially unsatisfactory performance of the Participant’s
        duties for the Company Group, including a voluntary termination within ninety (90) days after occurrence of an event which would be grounds for termination of employment by the Company Group for Cause (without regard to any notice or cure period
        requirement); provided, however, that if the Participant and the Company Group have entered into an employment agreement which defines the term Cause, the term Cause shall be defined in
        accordance with such agreement with respect to any Award granted to the Participant on or after the effective date of the employment agreement. The Committee shall determine in its sole and absolute discretion whether Cause exists for purposes of
        the Plan.

       

      “Change in Control” shall be deemed to occur upon occurrence of any of the following after
        the Effective Date:

       

      	

            	(a)	
              any “person” as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any trustee or other fiduciary holding securities under any employee benefit plan of the Company, any
                company owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of common stock of the Company is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the
                Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s then outstanding securities;

            

       

      	

            	(b)	
              during any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an
                agreement with the Company to effect a transaction described in paragraph (a), (c), or (d) of this Section) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds
                of the directors then still in office who either were directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the
                Board;

            

       

      	

            	(c)	
              a merger, consolidation, reorganization, or other business combination of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company
                outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power of the voting
                securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; provided, however, that a merger or consolidation effected to
                implement a recapitalization of the Company (or similar transaction) in which no person acquires more than twenty-five percent (25%) of the combined voting power of the Company’s then outstanding securities shall not constitute a Change in
                Control; or

            

       

      
        A-1

        
          

      

      	

            	(d)	
              complete liquidation of the Company or the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets other than (x) the sale or disposition of all or substantially
                all of the assets of the Company to a person or persons who beneficially own, directly or indirectly, at least fifty percent (50%) or more of the combined voting power of the outstanding voting securities of the Company at the time of the
                sale or (y) pursuant to a spin-off type transaction, directly or indirectly, of such assets to the stockholders of the Company.

            

       

      However, to the extent that Code Section 409A would cause an adverse tax consequence to a Participant using the above definition, the term “Change in
        Control” shall have the meaning ascribed to the phrase “Change in the Ownership or Effective Control of a Corporation or in the Ownership of a Substantial Portion of the Assets of a Corporation” under Treasury Department Regulation 1.409A-3(g)(5),
        as revised from time to time in subsequent regulations, and in the event that such regulations are withdrawn or such phrase (or a substantially similar phrase) ceases to be defined, as determined by the Committee.

       

      “Change in Control Price” means the price per share of Common Stock paid in any
        transaction related to a Change in Control of the Company. “Code” means the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.

       

      “Committee” means a committee or sub-committee of the Board consisting of two or more
        members of the Board, none of whom shall be an officer or other salaried employee of the Company, and each of whom shall qualify in all respects as a “non-employee director” as defined in Rule 16b-3 under the Exchange Act, or committee of other
        individuals satisfying the requirements of Section 711 of the Company Guide appointed by the Board, or a duly authorized committee of the Board, in accordance with Section 4 of the Plan. If no Committee exists, the functions of the Committee will
        be exercised by the Board.

       

      “Common Stock” means the common stock, par value $0.005 per share, of the Company or any
        other security into which such common stock shall be changed as contemplated by the adjustment provisions of the Plan.

       

      “Company Group” means Brooklyn ImmunoTherapeutics, Inc., a Delaware corporation, any
        subsidiary of Brooklyn ImmunoTherapeutics, Inc. and all other entities whose financial statements are required to be consolidated with the financial statements of Brooklyn ImmunoTherapeutics, Inc. pursuant to United States generally accepted
        accounting principles, and any other entity determined to be an affiliate of Brooklyn ImmunoTherapeutics, Inc. as determined by the Committee in its sole and absolute discretion. Company Group’s composition may not be the same for different
        purposes or Awards under the Plan.

       

      “Company Guide” means the NYSE American LLC Company Guide.

       

      “Covered Individual” means any current or former member of the Committee, any current or
        former officer or director of the Company, or, if so determined by the Committee in its sole discretion, any individual designated pursuant to Section 4(d) of the Plan.

       

      “Detrimental Activity” means any of the following: (i) the disclosure to anyone outside
        the Company, or the use in other than the Company’s business, without written authorization from the Company, of any confidential information or proprietary information, relating to the business of the Company, acquired by a Participant prior to a
        termination of the Participant’s employment or service with the Company; (ii) activity while employed  that is classified by the Company as a basis for a termination for Cause; (iii) the Participant’s Disparagement, or inducement of others to do
        so, of the Company or its past or present officers, directors, employees or services; or (iv) any other conduct or act determined by the Committee, in its sole discretion, to be injurious, detrimental or prejudicial to the interests of the Company.
        For purposes of subparagraph (i) above, the Chief Executive Officer of the Company shall have authority to provide the Participant with written authorization to engage in the activities contemplated thereby and no other person shall have authority
        to provide the Participant with such authorization.

       

      
        A-2

        
          

      

      “Disability” means a “permanent and total disability” within the meaning of Code Section
        22(e)(3); provided, however, that if a Participant and the Company have entered into an employment agreement that defines the term Disability for purposes of such agreement, Disability
        shall be defined pursuant to the definition in such agreement with respect to any Award granted to the Participant on or after the effective date of the employment agreement. The Committee shall determine in its sole and absolute discretion whether
        a Disability exists for purposes of the Plan.

       

      “Disparagement” means making any comments or statements to the press, the Company’s
        employees, clients or any other individuals or entities with whom the Company has a business relationship, which could adversely affect in any manner: (i) the conduct of the business of the Company (including, without limitation, any products or
        business plans or prospects), or (ii) the business reputation of the Company or any of its products, or its past or present officers, directors or employees.

       

      “Dividend Equivalents” means an amount equal to the cash dividends paid by the Company
        upon one share of Common Stock subject to an Award granted to a Participant under the Plan.

       

      “Effective Date” shall mean the Effective Date as defined in Section 1 of the Plan.

       

      “Eligible Individual” means any employee (including any employee officer or employee
        director)  of the Company or another member of the Company Group and any Prospective Employee to whom Awards are granted in connection with an offer of future employment with the Company. For the avoidance of doubt, a person who already is serving
        as a member of the Board prior to becoming an employee will not be eligible to be granted an Award under the Plan unless permitted by Section 711 of the Company Guide. The Company will determine in good faith and in the exercise of its discretion
        whether an individual has become or has ceased to be an employee of the Company or a member of the Company Group and the effective date of such individual’s employment or termination of employment, as the case may be. For purpose of an individual’s
        rights, if any, under the Plan as of the time of the Company’s determination, all such determinations by the Company will be final, binding and conclusive, notwithstanding that the Company or any court of law or governmental agency subsequently
        makes a contrary determination.

       

      “Exchange Act” means the Securities Exchange Act of 1934, as amended.

       

      “Exercise Price” means the purchase price per share of each share of Common Stock subject
        to an Award.

       

      “Fair Market Value” means, unless otherwise required by the Code, as of any date, the last
        sales price reported for the Common Stock on the day immediately prior to such date (i) as reported by the national securities exchange in the United States on which it is then traded, or (ii) if not traded on any such national securities exchange,
        as quoted on an automated quotation system sponsored by the Financial Industry Regulatory Authority, Inc., or if the Common Stock shall not have been reported or quoted on such date, on the first day prior thereto on which the Common Stock was
        reported or quoted; provided, however, that the Committee may modify the definition of Fair Market Value to reflect any changes in the trading practices of any exchange or automated system
        sponsored by the Financial Industry Regulatory Authority, Inc. on which the Common Stock is listed or traded. If the Common Stock is not readily traded on a national securities exchange or any system sponsored by the Financial Industry Regulatory
        Authority, Inc., the Fair Market Value shall be determined in good faith by the Committee.

       

      
        A-3

        
          

      

      “Grant Date” means, unless otherwise provided by applicable law, the date on which the
        Committee approves the grant of an Award or such later date as is specified by the Committee and set forth in the applicable Award Agreement.

       

      “Non-Qualified Stock Option” means an option to purchase Common Stock granted pursuant to
        Section 6 of the Plan that is not an “incentive stock option” within the meaning of Code Section 422.

       

      “Participant” means any Eligible Individual who holds an Award under the Plan and any of
        such individual’s successors or permitted assigns.

       

      “Performance Goals” means the specified performance goals which have been established by
        the Committee in connection with an Award.

       

      “Performance Period” means the period during which Performance Goals must be achieved in
        connection with an Award granted under the Plan.

       

      “Performance Share” means a right to receive a fixed number of shares of Common Stock, or
        the cash equivalent, which is contingent on the achievement of certain Performance Goals during a Performance Period.

       

      “Performance Unit” means a right to receive a designated dollar value, or shares of Common
        Stock of the equivalent value, which is contingent on the achievement of Performance Goals during a Performance Period.

       

      “Person” shall mean any person, corporation, partnership, limited liability company, joint
        venture or other entity or any group (as such term is defined for purposes of Section 13(d) of the Exchange Act), other than a Parent or subsidiary of the Company.

       

      “Plan” means this Brooklyn ImmunoTherapeutics, Inc. 2021 Inducement Stock Incentive Plan.

       

      “Prospective Employee” means any individual who has committed to become an employee  of
        the Company or another member of the Company Group within sixty (60) days from the date an Award is granted to such individual.

       

      “Restricted Stock” means Common Stock subject to certain restrictions, as determined by
        the Committee, and granted pursuant to Section 8 of the Plan.

       

      “RSU” means a right, granted under Section 9 of the Plan, to receive Common Stock at the
        end of a specified period.

       

      “Section 424 Employee” means an employee of the Company or any “subsidiary corporation” or
        “parent corporation” as such terms are defined in and in accordance with Code Section 424. The term “Section 424 Employee” also includes employees of a corporation issuing or assuming any Non-Qualified Stock Options in a transaction to which Code
        Section 424(a) applies.

       

      “Stock Appreciation Right” means the right to receive all or some portion of the increase
        in value of a fixed number of shares of Common Stock granted pursuant to Section 7 of the Plan.

       

      “Transfer” means, as a noun, any direct or indirect, voluntary or involuntary, exchange,
        sale, bequeath, pledge, mortgage, hypothecation, encumbrance, distribution, transfer, gift, assignment or other disposition or attempted disposition of, and, as a verb, directly or indirectly, voluntarily or involuntarily, to exchange, sell,
        bequeath, pledge, mortgage, hypothecate, encumber, distribute, transfer, give, assign or in any other manner whatsoever dispose or attempt to dispose of.

       

       

      

       A-4

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