Document:

EX-10.5

 Exhibit 10.5 
  

			
	

	 	 Histogenics Corporation

830 Winter Street
 Waltham, MA
02451
 781-547-7900 (phone)

781-547-4452 (fax)

 July 11, 2013 
 Stephen
Kennedy 
 6 Sawyers Lane 
 Andover, MA 01810 

 

	Re:	Offer of Position of Senior Vice President of Operations with Histogenics Inc. 

 Dear Stephen: 

I am pleased to offer you the position of Senior Vice President of Operations with Histogenics Corporation (the “Company”) with a
start date of August 5, 2013. The purpose of this letter is to describe the general terms and conditions of your employment with the Company. 

Duties and Responsibilities 
 Your duties
and responsibilities will include those normally associated with the position of Senior Vice President of Operations and such other duties and responsibilities as reasonably may be assigned to you from time to time by the President & Chief
Executive Officer of the Company. Your employment with the Company will be on a full-time basis. You will be expected to devote full time and effort to the business of the Company. 

Salary Compensation 
 Your annual salary
will be $285,000 paid in semi-monthly installments in accordance with our normal payroll policies, less applicable legal deductions, payable in accordance with the regular payroll practices of the Company. 

Bonus Compensation 
 You will be eligible
for an annual bonus (“bonus”), at the discretion of the Board of Directors (the “Board”), based upon the recommendation of the President & Chief Executive Officer. The Company expects that bonuses will typically be
determined and paid within 90 days from the end of the Company’s fiscal year. Your bonus, if any, will be in an amount up to 35% of your annual salary, which is commensurate with the Senior Vice President level of the Company. The bonus
will be determined by the Board based on the Company’s performance and success at achieving its objectives and goals during the course of the year as well as your performance and success at achieving the objectives and goals set for you
individually. You must be employed by Histogenics on the date bonuses are paid to receive a bonus. 

			
	

	  	 Histogenics Corporation

830 Winter Street
 Waltham, MA
02451
 781-547-7900 (phone)

781-547-4452 (fax)

  

 Equity/Stock Options 

After your acceptance of this offer of employment, upon approval of the Board of Directors, you will be issued a grant of 300,000 stock options
commensurate with the Company’s Vice President level of common stock of the Company (the “Options”). The Options will vest over four years, with 25% vesting on a ‘cliff basis on your one-year anniversary of your commencement of
your employment (“Start Date”) and the remainder will vest 2.08334% each month thereafter on the anniversary of your Start Date. The Options will vest upon a liquidity event according to the terms of the Employee Stock Option agreement.

 Severance 
 In the event you
voluntarily resign your employment or the Company terminates your employment for “Cause” (as defined herein), you shall not be entitled to any additional compensation, bonuses or severance (other than any accrued but unpaid base salary or
accrued vacation time). If the Company terminates your employment without Cause, you shall be entitled to continuation of the payment of your salary compensation for a period of 9 months (the period) and your stock options will continue to vest
in accordance with the “Equity/Stock Options” paragraph above. Additionally, you will be entitled to health benefits for the period. For the purposes of this paragraph, “Cause” shall mean: (i) your indictment or conviction
of any felony or of any crime involving dishonesty or moral turpitude; (ii) your breach of this Agreement or your Proprietary Information, Inventions and Non-Solicitation Agreement, (iii) your refusal to abide by or comply with the legal
directives of the Board, (iv) your dishonesty, fraud, or misconduct with respect to the business or affairs of the Company; (v) your gross negligence or failure to perform your duties; or (vi) your violation of the Company’s
policies regarding: (a) business ethics; (b) drug or alcohol use; (c) equal employment opportunity; or (d) sexual or other unlawful harassment. 

Vacation 
 You will be eligible to take up
to 20 days of paid vacation time per year, calculated from your Start Date and consistent with the Company’s vacation policy. Such vacation time is accrued on a monthly basis. 

Expenses 
 The Company will reimburse you
for all actual, necessary and reasonable expenses you incur in the course of the Company’s business, subject to the Company’s expense policy. 

Payments and Benefits 
 You will be
entitled to participate in any employee medical, dental, and life insurance plans and other benefits generally available to the Company’s employees. The Company, of course, may amend, terminate, or enhance the benefits provided to you and our
other employees from time to time as it deems appropriate. 

			
	

	  	 Histogenics Corporation

830 Winter Street
 Waltham, MA
02451
 781-547-7900 (phone)

781-547-4452 (fax)

  

 Internal Policies 

During your employment with the Company, you will be required to follow all of the Company’s internal policies and to conduct your
business activities at all times in accordance with the highest legal, ethical and professional standards. 
 Employment At Will 

The terms of this offer letter do not and are not intended to create either an express and/or implied contract of employment with the Company.
Your employment with the Company is for no specified period and constitutes “at-will” employment in that it can be terminated with or without cause, and with or without notice, at any time, at the option of either the Company or yourself,
except as otherwise provided by law. The Company is not bound to follow any policy, procedure, or process in connection with employee discipline, employment termination, or otherwise. 

Termination 
 In the event that your
employment is terminated by either you or the Company for any reason, the Company will pay to you all Base Salary and unused vacation earned through the date of termination of employment. You will also be reimbursed for any reasonable business
expenses that you incurred prior to the termination of employment, as long as you properly account for the expenses and submit appropriate documentation to the Company pursuant to Expenses Section above. 

No Conflicting Obligation/Conflicts of Interest 

You hereby represent and warrant to the Company that you are not presently under and will not become subject to any obligation to any person or
entity which is inconsistent or in conflict with your employment with the Company or which would prevent, limit or impair in any way your performance of your duties to the Company as described in this letter. Specifically you represent and warrant
that you have not brought with you any confidential or proprietary information of any former employer, and you are not subject to any agreement or obligation with a former employer that would prohibit your employment by the Company. 

Proprietary Information, Inventions and Non-Solicitation Agreement 

As a condition to your employment by the Company and in consideration of the issuance of stock options to you, you are required to enter into
the Proprietary Information, Inventions and Non-Solicitation Agreement (“the Agreement”) (attached as Exhibit A). Among other things, the Agreement provides that the Company owns your work product and all developments made by
you related to the Company’s business; that you will hold all non-public information regarding the Company confidential; and that for a one year period following your employment you will not solicit, hire, divert or take away any employee,
contractor, customer or supplier of the Company. 

			
	

	  	 Histogenics Corporation

830 Winter Street
 Waltham, MA
02451
 781-547-7900 (phone)

781-547-4452 (fax)

  

 Conditions of Employment 

This offer is contingent upon your providing satisfactory documentation to the Company concerning your employment eligibility as required by
Congress under the Immigration Reform and Control Act of 1986. This documentation must be received and accepted by the Company within three (3) business days of your date of hire. 

Governing Law 
 This letter will be
governed, construed and enforced in accordance with the laws of Massachusetts, without regard to principles of choice or conflicts of law. 
 Arbitration

 You agree to arbitrate before a single neutral arbitrator, in accordance with the rules of the state of Massachusetts and the
Institute of Business Arbitration, any disputes or claims that concern your employment, the termination of that employment, your recruitment, or any term or condition of your employment or this Agreement. The Company will pay the cost of the
arbitration filing and hearing fees and the cost of the arbitrator, and any other expense or cost that is unique to arbitration or that you would not be required to bear if you were free to bring the dispute or claim in court. Each party will bear
its own attorney fees. Nothing in this Agreement will be interpreted as restricting or prohibiting you from filing a charge or complaint with an administrative agency charged with investigating and/or prosecuting such charges or complaints under any
applicable law or regulation. The arbitration will take place in the United States. The arbitrator will issue a written award that sets forth the essential findings and conclusions on which the award is based. Judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. The award will be subject to correction, confirmation, or vacation, as provided by any applicable Massachusetts statutory or case law setting forth the standard of judicial review
of arbitration awards. Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this Agreement, without breach of this
arbitration provision. You understand and agree that the arbitration of disputes or claims that relate to this Agreement will be instead of a hearing or trial before a court. You understand that you are expressly waiving any and all rights to a
hearing or trial before a court, regarding any disputes and claims which they now have or which they may in the future have that relate to this Agreement. The only disputes or claims to which the obligations to arbitrate contained in this Section
will not apply are to any dispute or claim for workers’ compensation benefits or unemployment insurance benefits. 
 Entire Understanding 

This letter contains our entire understanding regarding the terms and conditions of your employment and supersedes any prior statements
regarding your employment made to you at any time by any representative of the Company. No representative of the Company, except the 

			
	

	  	 Histogenics Corporation

830 Winter Street
 Waltham, MA
02451
 781-547-7900 (phone)

781-547-4452 (fax)

  

 
Chairman of the Board as authorized by the Board, has the authority to enter into any agreement contrary to the foregoing. If the foregoing offer is acceptable to you, please acknowledge your
acceptance by signing below and returning one copy of this letter to me no later than July 15, 2013. 
  

	
	Very truly yours,
	Kevin McArdle
	
	 /s/ Kevin McArdle

	Chief Financial Officer
	Histogenics, Inc.

  

			
	ACCEPTED:
	
	 /s/ Stephen Kennedy

	Stephen Kennedy
		
	Date:	 	 7/12/13

 

 
 Exhibit A 

CONFIDENTIAL INFORMATION AND 

INTELLECTUAL PROPERTY ASSIGNMENT AGREEMENT 

This Confidential Information and Intellectual Property Assignment Agreement (hereafter referred to as “Agreement”) dated as of
                                 by and between HISTOGENICS CORPORATION
(hereinafter referred to as the “Company”), a Delaware Corporation having a place of business at 830 Winter Street, Waltham, MA 02451, and
                             (hereinafter referred to as the “Employee”), a United States
citizen/legal resident having a residence at
                                         
   . 
 The Company has requested that the Employee execute this Agreement, and the Employee has agreed to execute this
Agreement as part of the terms of Employee being hired, or continued employment of Employee, by the Company; 
 The Company possesses
certain Confidential Information, as defined below in Section 1.5 of this Agreement, that is confidential and proprietary to the Company; 

The Employee may receive or come into possession of Confidential Information from time to time to carry out the Employee’s duties under
the direction of the Company; 
 In furtherance of the foregoing, and in consideration of employment of Employee by the Company, the Company
and the Employee agree as follows: 
 1. DEFINITIONS 

For the purposes of this Agreement, the following terms shall have the following meanings: 

1.1 “Company” means HISTOGENICS CORPORATION, its present or future subsidiaries, affiliates and any entity owned or controlled by or
under common control, including any businesses that may be acquired or established after the execution of this Agreement and employment with the Company, and any successor-in-interest thereto or assignee thereof. 

1.2 “Business of the Company” includes any services or products (including both generic and specific products) used, made, sold,
offered for sale, developed, commenced or planned to be sold by the Company at any time during the Employee’s employment or used, made, sold, offered for sale, developed, commenced or planned to be sold by the Company using Confidential
Information, Intellectual Property or Work Product after termination of the Employee’s employment either by the Employee or the Company. 

 1.3 “Person” and “Persons” mean all individuals, partnerships,
corporations, limited liability companies, firms, businesses, organizations and other entities. 
 1.4 “Field of Research” means the
development of procedures and products related to ex corpus, in situ, in vitro or in vivo growth of cells or tissue for use in a mammalian body such as the human body, including, by way of example and without limitation,
methods of cartilage, ligament and tendon culture, autologous cultured cell technology, the biology of chondrocyte implantation, the applicability of such technology in the treatment of new indications and disease states, the development and
identification of new indications and usages for the Company’s products and procedures, and any and all other procedures and products associated or used with ex corpus, in situ, in vitro or in vivo growth of cells or
tissue for use in a mammalian body. 
 1.5 “Confidential Information” means: 

(a) All information, ideas, trade secrets and all other confidential and proprietary information of the Company, including without limitation
any and all information relating in any manner whatsoever to the Field of Research or the Business of the Company, financial information of the Company, the terms and formats of the Company’s contracts and agreements, information pertaining to
the Company’s methods of operation, processes, strategies and techniques, customer lists, customer information, and information relating to employees of the Company, including but not limited to employees’ identities, home and business
telephone and pager numbers, and addresses; 
 (b) Provided that the information: (i) becomes known to Employee as a consequence of
Employee’s employment with the Company, or was wrongfully obtained by Employee, regardless of whether the information became known to Employee during or after working hours, or whether the information came into the Company’s possession
through the efforts of Employee or others; and (ii) is not readily available to the public; and 
 (c) The definition of
“Confidential Information” is intended to have the broadest meaning as permitted by law and extends beyond the definition of “trade secrets” as set forth in the Uniform Trade Secrets Act. 

1.6 “Employee” means the individual signing this Agreement who is either currently employed by the Company or becoming an employee of
the Company concurrently with the execution of this Agreement. 
 1.7 “Intellectual Property” means any and all ideas, Inventions,
know how, improvements, discoveries, techniques, processes, original works of authorship, trade secrets and other subject matter developed or made by the Employee (solely or jointly with others) that may be protected, at least in part, by one or
more of a patent, trademark, copyright, trade secret, trade dress or other legal protection in the United States or in any foreign country. 

  
 2 

 1.8 “Inventions” means any and all discoveries, concepts, ideas, whether patentable or
not patentable, including but not limited to processes, methods, formulae, software, techniques, algorithms, cells, tissues, organs, cell cultures, cell parts, organisms, natural or non-naturally occurring genetic materials such as DNA constructs,
products, such as proteins, antibodies and the like, that are derived from or produced using natural or non-naturally occurring genetic materials, as well as improvements thereof or know-how related thereto, concerning any present or prospective
activities of the Company with which the Employee becomes acquainted or gains knowledge of as a result of the Employee’s employment by the Company. 

1.9 “Competing Organization” means any Person engaged in or about to become engaged in research on, development of, production,
marketing, selling of, or offering for sale a Competing Product. 
 1.10 “Competing Product” means any product, process, good
or service of any Person other than the Company, in existence or under development, which competes, directly or indirectly, with a product, process, good or service on or with which the Employee has worked for the Company or about which the Employee
has Confidential Information. 
 1.11 “Work Product” means designs, drawings, software, photographs, plans, records,
improvements, ideas and other subject matter relating thereto that is not considered by the Company to be Intellectual Property. 
 2. EMPLOYEE’S
REPRESENTATIONS AND AGREEMENTS 
 2.1 Confidential Information and Goodwill: Solely as a result of employment with the Company,
Employee will be given access to, become familiar with, and will acquire knowledge of the Company, its employees, operations, methods, sources of supply, financial information, the Field of Research, the Business of the Company and other
Confidential Information of the Company. The Confidential Information has been and will continue to be developed through the Company’s investment of substantial time, effort and money. Employee recognizes that disclosure or use of Confidential
Information for any purpose to any third party or Competing Organization would be greatly prejudicial and detrimental to the Company and would cause the Company to suffer immediate and irreparable injury. Employee further recognizes that Employee is
in a position to unfairly convert or otherwise use the Company’s business and goodwill for use by Employee and a Competing Organization to produce, make, have made, sell, offer for sale, or import a Competing Product, and that such conversion
or use would be greatly prejudicial to the Company, and would cause the Company to suffer immediate and irreparable injury. 
 2.2 Ownership of
Employee Work Product: The Company and Employee agree: 
 (a) that the Company shall own in its entirety and have the entire right
to use, made, have made, sell, offer for sale or import without the payment to the Employee of any royalty or amount or the provision of any consideration to Employee, other than 

  
 3 

 
continued employment of the Employee by the Company, all Work Product and all results of the performance by Employee of Employee’s duties and responsibilities as an employee of the Company.
Employee specifically agrees that any Work Product made or conceived by Employee during the period of employment of Employee by the Company shall be delivered to and become the property of the Company; and 

(b) that Employee is obligated to assign and will assign all right, title and interest in and to the Work Product to the Company, without the
payment of any royalty or amount or the provision of any consideration to the Employee other than continued employment by the Company. 
 2.3 Employee
Intellectual Property: Employee agrees that with respect to Intellectual Property made or conceived by the Employee, whether or not during the hour of Employee’s engagement or with the use of assistance of any Company facility,
material, or personnel, either solely or jointly with others during Employee’s employment with the Company or within one year after termination of such employment, without payment, royalty or any other consideration to the Employee other than
Employee’s wages or salary, therefore: 
 (a) The Employee shall inform the Company promptly and fully of all such Intellectual
Property by written reports, setting forth in detail the procedures, steps, materials and the like employed and the results achieved. The Employee shall submit an invention disclosure report promptly after completion of any studies or research
projects undertaken on the Company’s behalf, or funded at least in part by the Company, whether or not in the Employee’s opinion or view a given project has resulted in any Invention; 

(b) The Employee hereby transfers, assigns and agrees to assign to the Company, without any royalty, payment or consideration other than
Employee’s wages or salary which shall be considered full and adequate consideration, his or her entire right, title and interest in and to all Intellectual Property and to applications for United States and foreign patent applications and
patents granted thereon and to any trademarks, trade dress or copyrightable material related thereto; 
 (c) The Employee agrees for himself
or herself and his or her heirs, representatives, successors in interest, and assigns, upon request of the Company, at all times to perform such acts, such as providing testimony in support of the Employee’s inventorship and to execute and
deliver promptly to the Company such papers, instruments and documents, without expense to him or her, as from time to time may be necessary or useful in the Company’s opinion to apply for, secure, maintain, enforce, reissue, extend or defend
the Company’s worldwide rights in any Intellectual Property so as to secure to the Company the full benefits of the Intellectual Property and otherwise to carry into full force and effect the text and the assignment described above; 

(d) The Employee warrants and represents to the Company that he or she is not subject to any agreement, government contract, government grant
or university policy inconsistent with this Agreement. The Employee agrees not to conduct any research or other work subject to this Agreement other than at the Company’s facilities and further agrees not to use any such research facilities,
materials or personnel of any university or other Person not rented, leased or otherwise hired by the Company in connection with such work; and 

  
 4 

 (e) The Employee acknowledges that any copyrightable work created by Employee during the period
of Employee’s employment relationship with the Company shall be considered a work made for hire, and rights therein shall be the exclusive property of the Company as author and owner of the copyright in and to such work. 

2.4 Shop Rights: Notwithstanding any provision herein that may create greater rights, Employee acknowledges that the Company shall have the
royalty-free right to use in its business, and to make, have made, use, sell, offer for sale or import products, processes and services derived from or related to any Intellectual Property or Work Product that are made or conceived by the Employee
during his or her employment by the Company or with the use or assistance of the Company’s facilities or funded, at least in part, with Company funds. 

3. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION: At no time, either during or after the termination of employment, shall Employee directly or
indirectly obtain, disclose, reveal or use for Employee or any Person or Competing Organization, or aid others in obtaining, disclosing, revealing or using any Confidential Information of the Company, other than as may be required in the performance
of duties for and as authorized by the Company. All Confidential Information is and shall remain the sole property of the Company. 
 4. NONDISCLOSURE
OF OTHER INFORMATION: The Company and Employee acknowledge and agree that: 
 (a) Employee may be aware of certain other
confidential information of one or more third parties (the “Third Party Confidential Information”). 
 (b) The Company and
Employee further acknowledge and agree that the Company has not requested that Employee disclose to the Company any Third Party Confidential Information and, in fact, the Company requires that Employee refrain at all times during the period of the
employment relationship between the Company and Employee from using, disclosing or revealing to the Company any Third Party Confidential Information. 

(c) Employee agrees that at all times during the period of the employment relationship between Employee and the Company, Employee shall
refrain from using, disclosing or revealing to the Company any Third Party Confidential Information. 
 5. NON-SOLICITATION COVENANT: During
Employee’s employment and for the one (1) year period following the termination thereof, Employee will not: 
 (a) directly or
indirectly, on behalf of Employee or for any other Person (other than the Company), hire, entice, induce, encourage or solicit, or attempt to hire, entice, induce, encourage or solicit any employee to leave the Company’s employ; or 

(b) cause or attempt to cause any employee of the Company to become employed by any Person associated with a Competing Organization or engaged
in the Business of the Company; or 
 (c) solicit or accept business, directly or indirectly, related to product or services competitive
with those of the Company, from any of the Company’s customers with whom the Employee has contact within one (1) year prior to Employee’s termination. 

  
 5 

 6. NON-COMPETE COVENANT: Employee agrees that for a period of one (1) year after termination
of employment, Employee will not compete, directly or indirectly, with the Company in the Field of Cartilage Regeneration and Repair. Competition includes, but is not limited to, the design, development, production, promotion, offering for sale or
sale of product or services competitive with those of the Company in the Field of Cartilage Regeneration and Repair. 
 7. RETURN OF COMPANY PROPERTY
AND CONFIDENTIAL INFORMATION: All records, files photo/videographic materials, customer lists, supplier lists, software, keys, equipment, credit cards or other tangible material, and all other documents, including but not limited to
Confidential Information, relating to the Business of the Company (collectively “property”) that Employee receives, acquires, produces or has access to during employment, are the exclusive property of the Company. Upon termination of
Employee’s employment, Employee shall return to the Company all property and all Confidential Information of the Company and all copies thereof in Employee’s possession or control regardless of how such property or Confidential Information
is obtained or maintained. 
 8. REMEDIES FOR BREACH: Employee agrees that any breach of this Agreement by Employee will cause the Company to
suffer immediate and irreparable injury, for which there is no adequate remedy at law. In the event of a breach or threatened breach of any of the terms of the Agreement, the Company shall be entitled to seek and obtain enforcement of this Agreement
in a court of competent jurisdiction by means of a decree of specific performance, an injunction without posting a bond or the requirement of any other guarantee, and any other form of equitable relief. Employee consents to the entry of such an
order. This provision is in addition to and does not replace any other remedies the Company may have at law or in equity, including the right to receive monetary damages. Employee shall reimburse the Company for all reasonable attorneys’ fees
and costs incurred by the Company in enforcing this Agreement. 
 9. SURVIVAL; SEVERABILITY AND ENFORCEABILITY: This Agreement shall survive
the termination of Employee’s employment with the Company. It is the intention of the parties that this Agreement shall be enforceable to the fullest extent allowed by law. This Agreement is devisable and separable so that if any provision
shall be held to be invalid, unlawful or enforceable, such holding shall not impair the remaining provisions. If any provision is held to be too broad or unreasonable in duration, scope or character of restriction to be enforced, such provision
shall be amended or modified (including “blue pencilled”) to the extent necessary to legally enforce such provision to the fullest extent permitted by law. This Agreement, including the rights and obligations hereunder including all rights
of enforcement, may be transferred and/or assigned to the Company. 

  
 6 

 10. EMPLOYEE’S OPPORTUNITY OF INDEPENDENT REVIEW OF THIS AGREEMENT PRIOR TO EXECUTION:
Employee acknowledges that he or she has been provided the opportunity by the Company to have this Agreement reviewed by an attorney or counsel of Employee’s own choosing prior to signing this Agreement. 

11. APPLICABLE LAW: This Agreement shall be construed and governed for all purposes under the laws of the Commonwealth of Massachusetts
without regard to conflict of law principles. 
 12. ENTIRE AGREEMENT: This Agreement constitutes the entire understanding between the parties
and supersedes all prior understandings, oral or written discussions and representations ever made, and agreements executed by Employee relating to this subject matter. No amendment, waiver or revocation of this Agreement shall be effective unless
set forth in writing expressly stating the amendment, waiver or revocation and signed by Employee and an authorized officer of the Company. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year noted above. 

 

									
					
	For:	 	  
	 		  	For:	  	HISTOGENICS CORPORATION
				
	  
	 		  	By:	  	  

			
	  
	 		  	  

	 Date
	 		 		  	Title	  	

  
 7EX-10.6

 Exhibit 10.6 

FINAL VERSION 

HISTOGENICS CORPORATION 

2012 EQUITY INCENTIVE PLAN 
 1. Purpose
and Eligibility. The purpose of this 2012 Equity Incentive Plan (the “Plan”) of Histogenics Corporation, a Delaware corporation (the “Company”) is to provide stock options, stock issuances and other equity
interests in the Company (each, an “Award”) to (a) employees, officers, directors, consultants and advisors of the Company and its Parents and Subsidiaries, and (b) any other Person who is determined by the Board to have
made (or is expected to make) contributions to the Company. Any person to whom an Award has been granted under the Plan is called a “Participant.” Additional definitions are contained in Section 10. 

2. Administration 
 a. Administration
by Board of Directors. The Plan will be administered by the Board of Directors of the Company (the “Board”). The Board, in its sole discretion, shall have the authority to grant and amend Awards, to adopt, amend and repeal rules
relating to the Plan and to interpret and correct the provisions of the Plan and any Award. The Board shall have authority, subject to the express limitations of the Plan, (i) to construe and determine the respective Award Agreement, Awards and
the Plan, (ii) to prescribe, amend and rescind rules and regulations relating to the Plan and any Awards, (iii) to determine the terms and provisions of the respective Award Agreements and Awards, which need not be identical, (iv) to
initiate an Option Exchange Program, and (v) to make all other determinations in the judgment of the Board of Directors necessary or desirable for the administration and interpretation of the Plan. The Board may correct any defect or supply any
omission or reconcile any inconsistency in the Plan or in any Award Agreement or Award in the manner and to the extent it shall deem expedient to carry the Plan, any Award Agreement or Award into effect and it shall be the sole and final judge of
such expediency. All decisions by the Board shall be final and binding on all interested persons. Neither the Company nor any member of the Board shall be liable for any action or determination relating to the Plan. 

b. Appointment of Committee. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan
to one or more committees or subcommittees of the Board (a “Committee”). If so delegated, all references in the Plan to the “Board” shall mean such Committee or the Board. 

c. Delegation to Executive Officers. To the extent permitted by applicable law, the Board may delegate to one or more executive
officers of the Company the power to grant Awards and exercise such other powers under the Plan as the Board may determine, provided that the Board shall fix the maximum number of Awards to be granted and the maximum number of shares issuable
to any one Participant pursuant to Awards granted by such executive officers. 

  
 1 

 FINAL VERSION 

 

 3. Stock Available for Awards. 

a. Number of Shares. Subject to adjustment under Section 3(b), the aggregate number of shares of Common Stock that may be
issued pursuant to the Plan is the Available Shares (as specified on the last page hereof). If any Award expires, or is terminated, surrendered or forfeited, in whole or in part, the unissued Common Stock covered by such Award shall again be
available for the grant of Awards under the Plan. If an Award granted under the Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased shares subject to such Award shall again be available for subsequent
Awards under the Plan, and if shares of Common Stock issued pursuant to the Plan are repurchased by, or are surrendered or forfeited to, the Company at no more than the price paid for such shares, such shares of Common Stock shall again be available
for the grant of Awards under the Plan. Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares. 

b. Adjustment to Common Stock. Subject to Section 7, in the event of any stock split, reverse stock split, stock dividend,
extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off, split-up, or other similar change in capitalization or similar event, (i) the number and class of
Available Shares and the per-Participant share limit, (ii) the number and class of securities, vesting schedule and exercise price per share subject to each outstanding Option, (iii) the repurchase price per security subject to repurchase,
and (iv) the terms of each other outstanding Award shall be adjusted by the Company (or substituted Awards may be made, if applicable) to the extent the Board shall determine, in good faith, that such an adjustment (or substitution) is
appropriate. Any such adjustment to outstanding Awards will be effected in a manner that precludes the enlargement of rights and benefits under such Awards. 

4. Stock Options. 
 a. General.
The Board may grant options to purchase Common Stock (each, an “Option”) and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations
applicable to the exercise of each Option and the shares of Common Stock issued upon the exercise of each Option, including, but not limited to, vesting provisions, repurchase provisions and restrictions relating to applicable federal or state
securities laws. Each Option will be evidenced by an Award Agreement, consisting of a Notice of Stock Option Award and Stock Option Award Terms (collectively, an “Award Agreement”). 

b. Incentive Stock Options. An Option that the Board intends to be an incentive stock option (an “Incentive Stock
Option”) as defined in Section 422 of the Code, as amended, or any successor statute (“Section 422”), shall be granted only to an employee of the Company and shall be subject to and shall be construed consistently with
the requirements of Section 422 and regulations thereunder. The Board and the Company shall have no liability if an Option or any part thereof that is intended to be an Incentive Stock Option does not qualify as such. An Option or any part
thereof that does not qualify as an Incentive Stock Option is referred to herein as a “Nonstatutory Stock Option” or “Nonqualified Stock Option.” 

c. Dollar Limitation. For so long as the Code shall so provide, Options granted to any employee under the Plan (and any other incentive
stock option plans of the Company) which are intended to qualify as Incentive Stock Options shall not qualify as Incentive Stock Options to 

  
 2 

 FINAL VERSION 

 

 
the extent that such Options, in the aggregate, become exercisable for the first time in any one calendar year for shares of Common Stock with an aggregate Fair Market Value (as defined below)
(determined as of the respective date or dates of grant) of more than $100,000. The amount of Incentive Stock Options which exceed such $100,000 limitation shall be deemed to be Nonqualified Stock Options. For the purpose of this limitation, unless
otherwise required by the Code or regulations of the Internal Revenue Service or determined by the Board, Options shall be taken into account in the order granted, and the Board may designate that portion of any Incentive Stock Option that shall be
treated as Nonqualified Option in the event that the provisions of this paragraph apply to a portion of any Option. The designation described in the preceding sentence may be made at such time as the Committee considers appropriate, including after
the issuance of the Option or at the time of its exercise. 
 d. Exercise Price. The Board shall establish the exercise price (or
determine the method by which the exercise price shall be determined) at the time each Option is granted and specify the exercise price in the applicable Award Agreement, provided, however, in no event may the per share exercise price of an
Incentive Stock Option be less than the Fair Market Value of the Common Stock on the date such Option is granted. In the case of an Incentive Stock Option granted to a Participant who, at the time of grant of such Option, owns stock representing
more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, then the exercise price shall be no less than 110% of the Fair Market Value of the Common Stock on the date of grant. In the
case of a grant of an Incentive Stock Option to any other Participant, the exercise price shall be no less than 100% of the Fair Market Value of the Common Stock on the date of grant. 

e. Duration of Options. Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may
specify in the applicable Award Agreement; provided, that the term of any Incentive Stock Option may not be more than ten (10) years from the date of grant. In the case of an Incentive Stock Option granted to a Participant who, at the time of
grant of such Option, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Option shall be no longer than five (5) years from the date
of grant. 
 f. Exercise of Option. Options may be exercised only by delivery to the Company of a written notice of exercise signed
by the proper person together with payment in full as specified in Section 4(g) and the Award Agreement for the number of shares for which the Option is exercised. 

g. Payment Upon Exercise. Common Stock purchased upon the exercise of an Option shall be paid for by one or any combination of the
following forms of payment as permitted by the Board in its sole and absolute discretion: 
 i. by check payable to the order of the
Company; 
 ii. only if the Common Stock is then publicly traded, by delivery of an irrevocable and unconditional undertaking by a
creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to
the Company cash or a check sufficient to pay the exercise price; 

  
 3 

 FINAL VERSION 

 

 iii. to the extent explicitly provided in the applicable Award Agreement, by delivery of
shares of Common Stock owned by the Participant valued at Fair Market Value; 
 iv. by delivery of a promissory note of the Participant,
with full recourse to the Participant, to the Company (and delivery to the Company by the Participant of a check in an amount equal to the par value of the shares purchased); or 

v. payment of such other lawful consideration as the Board may determine. 

Except as otherwise expressly set forth in a Award Agreement, the Board shall have no obligation to accept consideration other than cash and in particular,
unless the Board so expressly provides, in no event will the Company accept the delivery of shares of Common Stock that have not been owned by the Participant at least six months prior to the exercise. The fair market value of any shares of the
Company’s Common Stock or other non-cash consideration which may be delivered upon exercise of an Option shall be determined in such manner as may be prescribed by the Board. 

h. Acceleration, Extension, Etc. The Board may, in its sole discretion, and in all instances subject to any relevant tax and accounting
considerations which may adversely impact or impair the Company, (i) accelerate the date or dates on which all or any particular Options or Awards granted under the Plan may be exercised, or (ii) extend the dates during which all or any
particular Options or Awards granted under the Plan may be exercised or vest. 
 i. Determination of Fair Market Value. If, at the
time an Option is granted under the Plan, the Company’s Common Stock is publicly traded under the Exchange Act, “Fair Market Value” shall mean (i) if the Common Stock is listed on any established stock exchange or a
national market system, including without limitation the Nasdaq Global Market or The Nasdaq Capital Market of The Nasdaq Stock Market, its fair market value shall be the last reported sales price for such stock (on that date) or the closing bid, if
no sales were reported as quoted on such exchange or system as reported in The Wall Street Journal or such other source as the Board deems reliable; or (ii) the average of the closing bid and asked prices last quoted (on that date) by an
established quotation service for over-the-counter securities, if the Common Stock is not reported on a national market system. In the absence of an established market for the Common Stock, the fair market value thereof shall be determined in good
faith by the Board after taking into consideration all factors which it deems appropriate. 
 5. Restricted Stock 

a. Grants. The Board may grant Awards to Participants of restricted shares of Common Stock, subject to (i) delivery to the Company
by the Participant of a check in an amount at least equal to the par value of the shares purchased, and (ii) the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price from the
Participant in the event that conditions specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award (each, a “Restricted Stock
Award”). 

  
 4 

 FINAL VERSION 

 

 b. Terms and Conditions. The Board shall determine the terms and conditions of any
such Restricted Stock Award. Any stock certificates issued in respect of a Restricted Stock Award shall be registered in the name of the Participant and, unless otherwise determined by the Board, deposited by the Participant, together with a stock
power endorsed in blank, with the Company (or its designee). After the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant or, if
the Participant has died, to the beneficiary designated by a Participant, in a manner determined by the Board, to receive amounts due or exercise rights of the Participant in the event of the Participant’s death (the “Designated
Beneficiary”). In the absence of an effective designation by a Participant, Designated Beneficiary shall mean the Participant’s estate. 
 6.
Other Stock-Based Awards. The Board shall have the right to grant other Awards based upon the Common Stock having such terms and conditions as the Board may determine, including, without limitation, the grant of shares based upon certain
conditions, the grant of securities convertible into Common Stock and the grant of stock appreciation rights, phantom stock awards or stock units. 
 7.
General Provisions Applicable to Awards. 
 a. Transferability of Awards. Except as the Board may otherwise determine or
provide in an Award, Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and,
during the life of the Participant, shall be exercisable only by the Participant; provided, however, except as the Board may otherwise determine or provide in an Award, that Nonstatutory Stock Options and Restricted Stock Awards may be transferred
pursuant to a qualified domestic relations order (as defined in Employee Retirement Income Security Act of 1974, as amended) or to a grantor-retained annuity trust or a similar estate-planning vehicle in which the trust is bound by all provisions of
the Award Agreement and Restricted Stock Award, which are applicable to the Participant. References to a Participant, to the extent relevant in the context, shall include references to authorized transferees. 

b. Documentation. Each Award under the Plan shall be evidenced by a written instrument in such form as the Board shall determine or as
executed by an officer of the Company pursuant to authority delegated by the Board. Each Award may contain terms and conditions in addition to those set forth in the Plan, provided that such terms and conditions do not contravene the
provisions of the Plan or applicable law. 
 c. Board Discretion. The terms of each type of Award need not be identical, and the
Board need not treat Participants uniformly. 
 d. Additional Award Provisions. The Board may, in its sole discretion, include
additional provisions in any Award Agreement, Restricted Stock Award or other Award granted under the Plan, including without limitation restrictions on transfer, repurchase rights, 

  
 5 

 FINAL VERSION 

 

 
commitments to pay cash bonuses, to make, arrange for or guaranty loans or to transfer other property to Participants upon exercise of Awards, or transfer other property to Participants upon
exercise of Awards, or such other provisions as shall be determined by the Board; provided that such additional provisions shall not be inconsistent with any other term or condition of the Plan or applicable law. 

e. Termination of Status. The Board shall determine the effect on an Award of the disability (as defined in Code
Section 22(e)(3)), death, retirement, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal
representative, conservator, guardian or Designated Beneficiary, may exercise rights under the Award, subject to applicable law and the provisions of the Code related to Incentive Stock Options. 

f. Change of Control of the Company 

i. Unless otherwise expressly provided in the applicable Award Agreement or Restricted Stock Award or other Award, in
connection with the occurrence of a Change of Control (as defined below), the Board shall, in its sole discretion as to any outstanding Award (including any portion thereof; on the same basis or on different bases, as the Board shall specify), take
one or any combination of the following actions: 
 A. make appropriate provision for the continuation of such Award by the Company or the
assumption of such Award by the surviving or acquiring entity and by substituting on an equitable basis for the shares then subject to such Award either (x) the consideration payable with respect to the outstanding shares of Common Stock in
connection with the Change of Control, (y) shares of stock of the surviving or acquiring corporation or (z) such other securities as the Board deems appropriate, the Fair Market Value of which shall not materially differ from the Fair
Market Value of the shares of Common Stock subject to such Award immediately preceding the Change of Control (as determined by the Board in its sole discretion); 

B. accelerate the date of exercise or vesting of such Award; 

C. permit the exchange of such Award for the right to participate in any stock option or other employee benefit plan of any successor
corporation; or 
 D. provide for the repurchase of the Award for an amount equal to the difference of (i) the consideration received
per share for the securities underlying the Award in the Change of Control minus (ii) the per share exercise price of such securities. Such amount shall be payable in cash or the property payable in respect of such securities in connection with
the Change of Control. The value of any such property shall be determined by the Board in its discretion. 
 E. provide for the termination
of such Award immediately prior to the consummation of the Change of Control; provided that no such termination will be effective if the Change of Control is not consummated. 

  
 6 

 FINAL VERSION 

 

 F. For the purpose of this Agreement, a “Change of Control” shall mean:

 (a) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the then outstanding shares of voting stock of the Company (the “Voting Stock”); provided, however, that
any acquisition by the Company or its subsidiaries, or any employee benefit plan (or related trust) of the Company or its subsidiaries of 50% or more of Voting Stock shall not constitute a Change of Control; and provided, further, that any
acquisition by a corporation with respect to which, following such acquisition, more than 50% of the then outstanding shares of common stock of such corporation, is then beneficially owned, directly or indirectly, by all or substantially all of the
individuals and entities who were the beneficial owners of the Voting Stock immediately prior to such acquisition in substantially the same proportion as their ownership, immediately prior to such acquisition, of the Voting Stock, shall not
constitute a Change of Control; and provided, further that the acquisition of 50% or more of the Voting Stock pursuant to a transaction, the primary purpose of which was to effect an equity financing of the Company, shall not constitute a Change of
Control; or 
 (b) Individuals who, as of the Effective Date, constitute the Board (the “Incumbent
Directors”) cease for any reason to constitute a majority of the members of this Board; provided that any individual who becomes a director after the Effective Date whose election or nomination for election by the Company’s
Shareholders was approved by a majority of the members of the Incumbent Directors (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened “election contest”
relating to the election of the Directors of the Company (as such terms are used in Rule 14a-11 under the Exchange Act), “tender offer” (as such term is used in Section 14(d) of the Exchange Act) or a proposed Merger (as defined
below) shall be deemed to be members of the Incumbent Directors; or 
 (c) The consummation of (i) a reorganization,
merger or consolidation (any of the foregoing, a “Merger”), in each case, with respect to which the individuals and entities who were the beneficial owners of the Voting Stock immediately prior to such Merger do not, following such
Merger, beneficially own, directly 

  
 7 

 FINAL VERSION 

 

 
or indirectly, more than 50% of the then outstanding shares of common stock of the corporation resulting from the Merger (the “Resulting Corporation”) as a result of the
individuals’ and entities’ shareholdings in the Company immediately prior to the consummation of the Merger and without regard to any of the individual’s and entities’ shareholdings in the Resulting Corporation immediately prior
to the consummation of the Merger, (ii) a complete liquidation or dissolution of the Company or (iii) the sale or other disposition of all or substantially all of the assets of the Company, excluding a sale or other disposition of assets
to a subsidiary of the Company. 
 g. Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the
Company, the Board shall notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The Board in its sole discretion may provide for a Participant to have the right to exercise his or her Award until
fifteen (15) days prior to such transaction as to all of the shares of Common Stock covered by the Option or Award, including shares as to which the Option or Award would not otherwise be exercisable, which exercise may in the sole discretion
of the Board, be made subject to and conditioned upon the consummation of such proposed transaction. In addition, the Board may provide that any Company repurchase option applicable to any shares of Common Stock purchased upon exercise of an Option
or Award shall lapse as to all such shares of Common Stock, provided the proposed dissolution and liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an Award will terminate upon
the consummation of such proposed action. 
 h. Assumption of Options Upon Certain Events. In connection with a merger or
consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the Board may grant Awards under the Plan in substitution for stock and stock-based awards issued by such entity or an affiliate
thereof. The substitute Awards shall be granted on such terms and conditions as the Board considers appropriate in the circumstances. 
 i.
Parachute Payments and Parachute Awards. Notwithstanding the provisions of Section 7(f), if, in connection with a Change of Control described therein, a tax under Section 4999 of the Code would be imposed on the Participant
(after taking into account the exceptions set forth in Sections 280G(b)(4) and 280G(b)(5) of the Code), then the number of Awards which shall become exercisable, realizable or vested as provided in such Section shall be reduced (or delayed), to the
minimum extent necessary, so that no such tax would be imposed on the Participant (the Awards not becoming so accelerated, realizable or vested, the “Parachute Awards”); provided, however, that if the “aggregate present
value” of the Parachute Awards would exceed the tax that, but for this sentence, would be imposed on the Participant under Section 4999 of the Code in connection with the Change of Control, then the Awards shall become immediately
exercisable, realizable and vested without regard to the provisions of this sentence. For purposes of the preceding sentence, the “aggregate present value” of an Award shall be calculated on an after-tax basis (other than taxes imposed by
Section 4999 of the Code) and shall be based on economic principles rather than the principles set forth under Section 280G of the Code and the regulations promulgated thereunder. All determinations required to be made under this
Section 7(i) shall be made by the Company. 

  
 8 

 FINAL VERSION 

 

 j. Amendment of Awards. The Board may amend, modify or terminate any outstanding Award
including, but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the
Participant’s consent to such action shall be required unless the Board determines that the action, taking into account any related action, would not materially and adversely affect the Participant. 

k. Conditions on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to
remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal
matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed
and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations. 

l. Acceleration. The Board may at any time provide that any Options shall become immediately exercisable in full or in part, that any
Restricted Stock Awards shall be free of some or all restrictions, or that any other stock-based Awards may become exercisable in full or in part or free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the
case may be, despite the fact that the foregoing actions may (i) cause the application of Sections 280G and 4999 of the Code if a Change of Control of the Company occurs, or (ii) disqualify all or part of the Option as an Incentive Stock
Option. 
 m. Time of Granting Awards. The grant of an Award shall, for all purposes, be the date on which the Company completes the
corporate action relating to the grant of such Award and all conditions to the grant have been satisfied, provided that conditions to the grant, exercise or vesting of an Award shall not defer the date of grant. Notice of a grant shall be given to
each Participant to whom an Award is so granted within a reasonable time after the determination has been made. 
 n. Participation in
Foreign Countries. The Board shall have the authority to adopt such modifications, procedures, and subplans as may be necessary or desirable to comply with provisions of the laws of foreign countries in which the Company or its Subsidiaries may
operate to assure the viability of the benefits from Awards granted to Participants performing services in such countries and to meet the objectives of the Plan. 

8. Withholding. The Company shall have the right to deduct from payments of any kind otherwise due to the optionee or recipient of an Award any
federal, state or local taxes of any kind required by law to be withheld with respect to any shares issued upon exercise of Options under the Plan or the purchase of shares subject to the Award. Subject to the prior approval of the Company, which
may be withheld by the Company in its sole discretion, the optionee or recipient of an Award may elect to satisfy such obligation, in whole or in part, (a) by causing the Company to withhold shares of Common Stock otherwise issuable pursuant to
the exercise of an Option or the purchase of shares subject to an Award or (b) by delivering to the Company shares of Common Stock already owned by the optionee or Award recipient of an Award. The shares so

  
 9 

 FINAL VERSION 

 

 
delivered or withheld shall have a Fair Market Value of the shares used to satisfy such withholding obligation as shall be determined by the Company as of the date that the amount of tax to be
withheld is to be determined. An optionee or recipient of an Award who has made an election pursuant to this Section may only satisfy his or her withholding obligation with shares of Common Stock which are not subject to any repurchase, forfeiture,
unfulfilled vesting or other similar requirements. 
 9. No Exercise of Option if Engagement or Employment Terminated for Cause. If the employment or
engagement of any Participant is terminated “for Cause”, the Award may terminate, upon a determination of the Board, on the date of such termination and the Option shall thereupon not be exercisable to any extent whatsoever and the Company
shall have the right to repurchase any shares of Common Stock subject to a Restricted Stock Award whether or not such shares have vested. For purposes of this Section 9, “for Cause” shall be defined as follows:
(i) if the Participant has executed an employment agreement, the definition of “cause” contained therein, if any, shall govern, or (ii) conduct, as determined by the Board of Directors, involving one or more of the following:
(a) gross misconduct or inadequate performance by the Participant which is injurious to the Company; or (b) the commission of an act of embezzlement, fraud or theft, which results in economic loss, damage or injury to the Company; or
(c) the unauthorized disclosure of any trade secret or confidential information of the Company (or any client, customer, supplier or other third party who has a business relationship with the Company) or the violation of any noncompetition or
nonsolicitation covenant or assignment of inventions obligation with the Company; or (d) the commission of an act which constitutes unfair competition with the Company or which induces any customer or prospective customer of the Company to
breach a contract with the Company or to decline to do business with the Company; or (e) the indictment of the Participant for a felony or serious misdemeanor offense, either in connection with the performance of his or her obligations to the
Company or which shall adversely affect the Participant’s ability to perform such obligations; or (f) the commission of an act of fraud or breach of fiduciary duty which results in loss, damage or injury to the Company; or (g) the
failure of the Participant to perform in a material respect his or her employment, consulting or advisory obligations without proper cause. In making such determination, the Board shall act fairly and in utmost good faith. The Board may in its
discretion waive or modify the provisions of this Section at a meeting of the Board with respect to any individual Participant with regard to the facts and circumstances of any particular situation involving a determination under this Section. 

10. Miscellaneous. 
 a.
Definitions. 
 i. “Common Stock” means the common stock, par value $0.001, per share, of the Company. 

ii. “Company”, for purposes of eligibility under the Plan, shall include any present or future subsidiary corporations of
Histogenics Corporation, as defined in Section 424(f) of the Code (a “Subsidiary”), and any present or future parent corporation of Histogenics Corporation, as defined in Section 424(e) of the Code (a
“Parent”). For purposes of Awards other than Incentive Stock Options, the term “Company” shall include any other business venture in which the Company has a direct or indirect significant interest, as determined by
the Board in its sole discretion. 

  
 10 

 FINAL VERSION 

 

 iii. “Code” means the Internal Revenue Code of 1986, as amended, and any
regulations promulgated thereunder. 
 iv. “Effective Date” means the date the Plan is adopted by the Company’s Board
of Directors. 
 v. “Employee” for purposes of eligibility under the Plan shall include a person to whom an offer of
employment has been extended by the Company. 
 vi. “Option Exchange Program” means a program whereby outstanding options
are exchanged for options with a lower exercise price. 
 b. No Right To Employment or Other Status. No person shall have any claim
or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss
or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan. 
 c. No Rights As
Stockholder. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming
the record holder thereof. 
 d. Compliance with Law. The Company shall not be required to 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 Participant, any other individual exercising an Option, or the Company of any provision of any law or regulation of any governmental authority, including
without limitation any federal or state securities laws or regulation. If at any time the Company shall determine, in its discretion, that the listing, registration or qualification of any share subject to an Award up on any security exchange or
under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase of shares hereunder, no shares of Common Stock may be issued or sold to the Participant or any other individual
exercising an Option pursuant to such Award unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Company, and any delay caused thereby shall in no
way effect the date of termination of the Award. Any determination in this connection by the Board shall be final, binding and conclusive. The Company may, but shall in no event be obligated to, register any securities covered hereby pursuant to the
Securities Act. The Company shall not be obligated to take any affirmative action in order to cause the exercise of an Option or the issuance of shares of Common Stock pursuant to the Plan to comply with any law or regulation of any governmental
authority. As to any jurisdiction that expressly imposes that a Option shall not be exercised until the shares of Common Stock covered by such Option are registered or exempt from registration, the exercise of such Option (under circumstances in
which the laws of such jurisdiction apply) shall be deemed conditioned up on the effectiveness of such registration or availability of such an exemption. 

  
 11 

 FINAL VERSION 

 

 e. Effective Date and Term of Plan. The Plan shall become effective on the date on
which it is adopted by the Board. No Awards shall be granted under the Plan after the completion of ten years from the date on which the Plan was adopted by the Board, but Awards previously granted may extend beyond that date. 

f. Amendment of Plan. The Board may amend, suspend or terminate the Plan or any portion thereof at any time. 

g. Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted in accordance with the
laws of the State of Delaware, without regard to any applicable conflicts of law principles. 

  
 12 

 FINAL VERSION 

 

 Approvals 

Original Plan: 
  

					
	 Available Shares Prior to Milestone Closing:
	  	 	3,535,642	  
		
	 Available Shares After Milestone Closing (in the aggregate):
	  	 	5,818,750	  
		
	 Adopted by the Board of Directors on:
	  	 	July 20, 2012	  
		
	 Approved by the Stockholders on:
	  	 	July 20, 2012	  

  
 13 

 HISTOGENICS CORPORATION 

2012 EQUITY INCENTIVE PLAN 

NOTICE OF STOCK OPTION AWARD 

Unless otherwise defined herein, the terms defined in the 2012 Equity Incentive Plan shall have the same meanings in this Notice of Stock
Option Award and the attached Stock Option Award Terms, which is incorporated herein by reference (together, the “Award Agreement”). 

PARTICIPANT (the “Participant”) 

«Name» 
 GRANT 

The undersigned Participant has been granted an option to purchase Common Stock of Histogenics Corporation (the “Company”), subject to the
terms and conditions of the Plan and this Award Agreement, as follows: 
  

							
	Date of Grant	 	«Grant_Date»	 	Total Exercise Price	 	$«Total_Exercise_Price»
				
	 Vesting Commencement Date
	 	«Vesting_Date»	 	Type of Option	 	 ̈ Incentive Stock Option
				
	 Exercise Price per Share
	 	$«Exercise_Price»	 		 	 ̈ Nonstatutory Stock Option
				
	 Total Number of Shares Granted
	 	«Shares_Granted»	 	Term/Expiration Date	 	«Expiration_Date»

 VESTING SCHEDULE: 

This Option shall be exercisable, in whole or in part, according to the following vesting schedule: 

 

			
	 Number of Months (or years) after
Vesting
Commencement Date
	  	 % of Grant (or # of Shares)
Vested

	 12 months
	  	25%
	 Each month thereafter
	  	Additional 2.08334%

 Vesting of this Option shall cease upon termination of the employment of the Participant with the Company (the
“Relationship”). 
 Notwithstanding the foregoing, vesting of this Option shall accelerate and this Option shall be deemed fully vested if,
within 12 months following a Change of Control, the Relationship is terminated (a) by the Company without Cause or (b) by the Participant for Good Reason. 

For purposes of the preceding paragraph, the terms “Cause” and “Good Reason” are defined as follows: 

“Cause” means a good faith determination by the Board of any of the following: 

 

	 	(i)	An unauthorized use or disclosure by the Participant of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company; 

 

	 	(ii)	A material breach by the Participant of any material agreement between the Participant and the Company; 

  

	 	(iii)	A material failure by the Participant to comply with the Company’s written policies or rules after receiving written notification of such failure from the Board; 

	 	(iv)	The Participant’s conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any state thereof; 

 

	 	(v)	The Participant’s gross negligence or willful misconduct in the course of performing service to the Company; 

  

	 	(vi)	A continuing failure by the Participant to perform reasonably assigned duties after receiving written notification of such failure from the Board; or 

 

	 	(vii)	A failure by the Participant to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested the Participant’s
cooperation. 

 “Good Reason” means any of the following events, if such event occurs without the Participant’s consent:

  

	 	(i)	A material reduction in the Participant’s base salary; 

  

	 	(ii)	A relocation of the Participant’s principal workplace by more than 40 miles; or 

  

	 	(iii)	A change in the Participant’s title or position with the Company that materially reduces the Participant’s level of authority or responsibility. 

 

					
	Participant	 		 	Histogenics Corporation
	   
	 		 	   

	Signature	 		 	By
	   
	 		 	   

	Print Name	 		 	Title
	   
	 		 	  

	   
	 		 	  

	Residence Address	 		 	

  
 2 

 HISTOGENICS CORPORATION 

STOCK OPTION 
 AWARD TERMS

  

	1.	GRANT OF OPTION. The Committee hereby grants to the Participant named in the Notice of Stock Option Award an option (the “Option”) to purchase the
number of Shares set forth in the Notice of Stock Option Award, at the exercise price per Share set forth in the Notice of Stock Option Award (the “Exercise Price”), and subject to the terms and conditions of the 2012 Equity
Incentive Plan (the “Plan”), which is incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the terms and conditions of the Plan shall prevail.

 If designated in the Notice of Stock Option Award as an Incentive Stock Option (“ISO”), this Option is
intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 limitation rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock
Option (“NSO”). 
  

	2.	EXERCISE OF OPTION. 

  

	 	i.	Right to Exercise. This Option may be exercised during its term in accordance with the Vesting Schedule set out on the Notice of Stock Option Award and with the applicable provisions of the Plan and this Award
Agreement. 

  

	 	ii.	Method of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A (the “Exercise Notice”) which shall state the election to exercise
the Option, the number of Shares with respect to which the Option is being exercised (the “Exercised Shares”), the Participant’s agreement to be subject to a right of first refusal with respect to Exercised Shares and such
other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by (1) payment of the aggregate Exercise Price as to all Exercised Shares and (2) a grant of an irrevocable proxy in the form
attached hereto as Exhibit C signed and dated by the Participant. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by payment of the aggregate Exercise Price. No Shares
shall be issued pursuant to the exercise of an Option unless such issuance and such exercise complies with applicable laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Participant on the date
on which the Option is exercised with respect to such Shares. 

  

	3.	TERMINATION. This Option shall be exercisable for three months after the Relationship ceases; provided, however, if the Relationship is terminated by the Company for cause, the Option
shall terminate immediately. Upon Participant’s death or Disability, this Option may be exercised for twelve (12) months after the Relationship ceases. In no event may Participant exercise this Option after the Term/Expiration Date as
provided in the Notice of Stock Option Award. 

	4.	PARTICIPANT’S REPRESENTATIONS. In the event the Shares have not been registered under the Securities Act of 1933, as amended, (the “Securities
Act”) at the time this Option is exercised and as a condition of such exercise, the Participant shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or her
Investment Representation Statement in the form attached hereto as Exhibit B. 

  

	5.	STOCKHOLDERS’ AGREEMENT. By executing this Award Agreement, the Participant acknowledges and agrees that as a condition to exercising this Option, the Participant
shall be required to become a party to that certain Stockholders’ Agreement dated as of July 20, 2012, by and among the Company and the Stockholders (as defined therein) (the “Stockholders’ Agreement”), and shall sign
a counterpart signature page or instrument of accession as described therein, and that the Shares acquired upon exercise of this Option shall be Shares subject to the terms and conditions of such Stockholders’ Agreement, if by issuance of this
Option to the Participant, such Option would collectively constitute with respect to such Participant (taking into account all shares of Capital Stock, options, and other purchase rights held by such Participant) one percent (1%) or more of the
Company’s then outstanding Capital Stock (treating for this purpose all shares of Common Stock issuable upon exercise of or conversion of outstanding options, warrants, or convertible securities, as if exercised or converted). To the extent any
provision of the Plan or this Award Agreement conflicts with any provision of the Stockholders’ Agreement, the Stockholders’ Agreement shall prevail, provided, however, that the other provisions of any this Award Agreement shall
remain in full force and effect. 

  

	6.	LOCK-UP PERIOD. If Participant is bound by the Stockholders’ Agreement, then such Participant shall be bound by the provisions of the Stockholders’ Agreement
governing the restrictions on the transfer of Shares of the Common Stock of the Company in connection with the Company’s initial public offering, provided, however, that the other provisions of any this Award Agreement shall remain in
full force and effect. If Participant is not otherwise bound by the Stockholders’ Agreement, Participant hereby agrees that, if so requested by the Company or any representative of the underwriters (the “Managing Underwriter”)
in connection with any registration of the offering of any securities of the Company under the Securities Act, Participant shall not sell or otherwise transfer any Shares or other securities of the Company during the 180-day period (or such other
period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the “Market Standoff Period”) following the effective date of a registration statement of the Company filed under the
Securities Act. The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period. 

 

	7.	RESTRICTIONS ON EXERCISE. This Option may not be exercised until such time as the Plan has been approved by the stockholders of the Company, or if the issuance of such
Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable law. 

  
 2 

	8.	NON-TRANSFERABILITY OF OPTION. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may
be exercised during the lifetime of Participant only by Participant. The terms of the Plan and this Award Agreement shall be binding upon the executors, Committees, heirs, successors and assigns of the Participant. 

 

	9.	TERM OF OPTION. This Option may be exercised only within the Term set out in the Notice of Stock Option Award which Term may not exceed ten (10) years from the
Date of Grant, and may be exercised during such Term only in accordance with the Plan and the terms of this Award Agreement. 

  

	10.	UNITED STATES TAX CONSEQUENCES. Set forth below is a brief summary as of the date of this Option of some of the United States federal tax consequences
of exercise of this Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE
SHARES. 

  

	 	i.	Exercise of ISO. If this Option qualifies as an Incentive Stock Option, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value
of the Shares on the date of exercise over the Exercise Price will be treated as an adjustment to the alternative minimum tax for federal tax purposes and may subject the Participant to the alternative minimum tax in the year of exercise.

  

	 	ii.	Exercise of Nonstatutory Stock Option. There may be a regular federal income tax liability upon the exercise of a Nonstatutory Stock Option. The Participant will be treated as having received compensation income
(taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. If the Participant is an employee or a former employee, the Company will be required to
withhold from the Participant’s compensation or collect from the Participant and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the
exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 

  

	 	iii.	 Disposition of Shares. In the case of a Nonstatutory Stock Option, if Shares are held for at least one year, any gain realized on disposition
of the Shares will be treated as long-term capital gain for federal income tax purposes. In the case of an Incentive Stock Option, if Shares transferred pursuant to the Option are held for at least one year after exercise and for at least two years
after the Date of Grant, any gain realized on disposition of the Shares will also be treated as long-term capital gain for federal income tax purposes. If Shares purchased under an 

  
 3 

	 	
Incentive Stock Option are disposed of within one year after exercise or two years after the Date of Grant, any gain realized on such disposition will be treated as compensation income (taxable
at ordinary income rates) to the extent of the difference between the Exercise Price and the lesser of (1) the Fair Market Value of the Shares on the date of exercise, or (2) the sale price of the Shares. Any additional gain will be taxed
as capital gain, short-term or long-term depending on the period that the Incentive Stock Option Shares were held. 

  

	 	iv.	Notice of Disqualifying Disposition of Incentive Stock Option Shares. If this Option is an Incentive Stock Option, and if the Participant sells or otherwise disposes of any of the Shares acquired pursuant to the
Incentive Stock Option on or before the later of (1) the date two years after the Date of Grant, or (2) the date one year after the date of exercise, the Participant shall immediately notify the Company in writing of such disposition. The
Participant agrees that the Participant may be subject to income tax withholding by the Company on the compensation income recognized by the Participant. 

  

	 	v.	Withholding. Pursuant to applicable federal, state, local or foreign laws, the Company may be required to collect income or other taxes on the grant of this Option, the exercise of this Option, the lapse of a
restriction placed on this Option or the Shares issued upon exercise of this Option, or at other times. The Company may require, at such time as it considers appropriate, that the Participant pay the Company the amount of any taxes which the Company
may determine is required to be withheld or collected, and the Participant shall comply with the requirement or demand of the Company. In its discretion, the Company may withhold Shares to be received upon exercise of this Option or offset against
any amount owed by the Company to the Participant, including compensation amounts, if in its sole discretion it deems this to be an appropriate method for withholding or collecting taxes. 

 

	11.	ENTIRE AGREEMENT; GOVERNING LAW. The Plan is incorporated herein by reference. The Plan, this Award Agreement and the Stockholders’ Agreement
constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and may not be
modified (except as provided herein and in the Plan) adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. If the Participant is bound by the Stockholders’ Agreement, to the extent any
provision of the Plan or this Award Agreement conflicts with any provision of the Stockholders’ Agreement, the Stockholders’ Agreement shall prevail, provided, however, that the other provisions of this Award Agreement shall remain
in full force and effect. This agreement is governed by the internal substantive laws but not the choice of law rules of the State of Delaware. 

  

	12.	 NO GUARANTEE OF CONTINUED SERVICE. PARTICIPANT ACKNOWLEDGES AND
AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING IN THE RELATIONSHIP AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT 

  
 4 

	 	
OF BEING ENGAGED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE
VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT
TO TERMINATE THE RELATIONSHIP AT ANY TIME, WITH OR WITHOUT CAUSE. 

 Participant acknowledges receipt of a copy of the Plan and
represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Participant has reviewed the Plan, this Award Agreement and this Option in their
entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option and fully understands all provisions of the Plan, this Award Agreement and this Option. Participant hereby agrees to accept as binding, conclusive and
final all decisions or interpretations of the Committee upon any questions arising under the Plan, this Award Agreement or this Option. Participant further agrees to notify the Company upon any change in the residence address indicated above. 

  
 5 

 EXHIBIT A 

2012 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 
 HISTOGENICS CORPORATION

 ATTENTION: President 
 830 Winter Street, 3rd Floor 

Waltham, MA 02451 
  

	1.	Exercise of Option. Effective as of today,                     , 20    , the
undersigned (“Participant”) hereby elects to exercise Participant’s option to purchase                      shares of
the Common Stock (the “Shares”) of Histogenics Corporation (the “Company”) under and pursuant to the 2012 Equity Incentive Plan (the “Plan”) and the Notice of Stock Option Award and Stock Option
Award Terms dated                      (the “Award Agreement”). 

 

	2.	Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price of the Shares, as set forth in the Award Agreement. 

 

	3.	Representations of Participant. Participant acknowledges that Participant has received, read and understood the Plan, and the Award Agreement, and agrees to abide by and be bound by their terms and conditions.

  

	4.	Rights as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive
dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Shares shall be issued to the Participant as soon as practicable after the Option is exercised. No
adjustment shall be made for a dividend or other right for which the record date is prior to the date of issuance except as provided in Section 3(b) of the Plan. 

 

	5.	Company’s Right of First Refusal. If Participant is bound that certain Stockholders’ Agreement dated as of July 20, 2012, by and among the Company and the Stockholders (as defined therein) (the
“Stockholders’ Agreement”), then such Participant shall be bound by the provisions of the Stockholders’ Agreement governing the Series A Holders’ right of first refusal in connection with any portion of Transfer Stock
(as defined in the Stockholders’ Agreement) that such Participant may propose to transfer; provided, however, that the other provisions of any this Award Agreement shall remain in full force and effect. If Participant is not otherwise
bound by the Stockholders’ Agreement, before any Shares held by Participant or any transferee (either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or
operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares on the terms and conditions set forth in this Section (the “Right of First Refusal”). 

	 	a.	Notice of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise
transfer such Shares; (ii) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price
or other consideration for which the Holder proposes to transfer the Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 

 

	 	b.	Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all or
any part of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 

 

	 	c.	Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or its assignee(s) under this Section shall be the Offered Price. If the Offered Price includes
consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith. 

 

	 	d.	Payment. Payment of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the
Company (or, in the case of purchase by an assignee, to the assignee), or by any combination thereof within 30 days after receipt of the Notice or in the manner and at the times set forth in the Notice. 

 

	 	e.	Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section,
then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within 120 days after the date of the Notice, that any such
sale or other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section 5 shall continue to apply to the Shares in the hands of such
Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First
Refusal before any Shares held by the Holder may be sold or otherwise transferred. 

  

	 	f.	Exception for Certain Family Transfers. Anything to the contrary contained in this Section notwithstanding, the transfer of any or all of the Shares during the Participant’s lifetime or on the
Participant’s death by will or intestacy to the Participant’s immediate family or a trust for the benefit of the Participant’s immediate family shall be exempt from the provisions of this Section. “Immediate Family”
as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this
Section 5, and there shall be no further transfer of such Shares except in accordance with the terms of this Section. 

	 	g.	Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the first sale of Common Stock of the Company to the general public pursuant to a registration statement
filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended. 

  

	6.	Tax Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition of the Shares. Participant represents that Participant has
consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice. 

 

	7.	Restrictive Legends. 

  

	 	a.	Legends. Participant understands and agrees that the Company shall cause the legends set forth below or legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the
Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

 THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE
OPINION OF COMPANY COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH. 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE ISSUER OR
ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE AND/OR STOCKHOLDERS’ AGREEMENT, IF APPLICABLE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER
RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
  

	 	b.	Stop-Transfer Notices. Participant agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer
agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 

	 	c.	Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or
(ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 

 

	8.	Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company.
Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon Participant and his or her heirs, executors, Committees, successors and assigns. 

 

	9.	Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or by the Company forthwith to the Committee which shall review such dispute at its next regular
meeting. The resolution of such a dispute by the Committee shall be final and binding on all parties. 

  

	10.	Governing Law; Severability. This Agreement is governed by the laws of the state of incorporation of the Company. 

  

	11.	Entire Agreement. The Plan, Award Agreement and Stockholders’ Agreement are incorporated herein by reference. This Agreement, the Plan, the Award Agreement (including all exhibits) the Investment
Representation Statement, and the Stockholders’ Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and
Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. If the Participant bound by the Stockholders’
Agreement, to the extent any provision of the Plan or this Award Agreement conflicts with any provision of the Stockholders’ Agreement, the terms of the Stockholders’ Agreement shall control, provided, however, that the other
provisions of this Award Agreement shall remain in full force and effect. 

 [Signatures appear on next page.]

					
	Submitted by:	 		 	Accepted by:
			
	PARTICIPANT	 		 	HISTOGENICS CORPORATION
	   
	 		 	   

	Signature	 		 	By
	   
	 		 	   

	Print Name	 		 	Title
			
	Address:	 		 	Address:
	   
	 		 	   

			
	 	 		 	 
			
		 		 	 
		 		 	Date Received by Company

 EXHIBIT B 

INVESTMENT REPRESENTATION STATEMENT 
  

			
	PARTICIPANT:	  	[INSERT NAME]
		
	COMPANY:	  	HISTOGENICS CORPORATION
		
	SECURITY:	  	COMMON STOCK (the “Securities”)
		
	NUMBER OF SHARES:	  	
		
	DATE:	  	

 In connection with the purchase of the above-listed Securities, the undersigned Participant represents to the Company the
following: 
  

	 	a.	Participant is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities.
Participant is acquiring these Securities for investment for Participant’s own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as
amended (the “Securities Act”). 

  

	 	b.	Participant acknowledges and understands that the Securities constitute “restricted securities” under the Securities Act and have not been registered under the Securities Act in reliance upon a specific
exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Participant’s investment intent as expressed herein. In this connection, Participant understands that, in the view of the Securities and Exchange
Commission, the statutory basis for such exemption may be unavailable if Participant’s representation was predicated solely upon a present intention to hold these Securities for the minimum capital gains period specified under tax statutes, for
a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one year or any other fixed period in the future. Participant further understands that the Securities must be held indefinitely unless
they are subsequently registered under the Securities Act or an exemption from such registration is available. Participant further acknowledges and understands that the Company is under no obligation to register the Securities. Participant
understands that the certificate evidencing the Securities will be imprinted with a legend which prohibits the transfer of the Securities unless they are registered or such registration is not required in the opinion of counsel satisfactory to the
Company and any other legend required under applicable state securities laws. 

  

	 	c.	 Participant is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the Securities Act, which, in substance, permit
limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies
under Rule 701 at the time of the grant of the Option to the Participant, the exercise will be exempt from 

	 	
registration under the Securities Act. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety
(90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may be resold, subject to the satisfaction of certain of the conditions specified by Rule 144, including:
(1) the resale being made through a broker in an unsolicited “broker’s transaction” or in transactions directly with a market maker (as said term is defined under the Securities Exchange Act of 1934); and, in the case of an
affiliate, (2) the availability of certain public information about the Company, (3) the amount of Securities being sold during any three month period not exceeding the limitations specified in Rule 144(e), and (4) the timely
filing of a Form 144, if applicable. 

 In the event that the Company does not qualify under Rule 701 at the time of
grant of the Option, then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which requires the resale to occur not less than one year after the later of the date the Securities were sold
by the Company or the date the Securities were sold by an affiliate of the Company, within the meaning of Rule 144; and, in the case of acquisition of the Securities by an affiliate or a non-affiliate, who subsequently holds the Securities less
than two years, the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the paragraph immediately above. 
  

	 	d.	Participant further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other
registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement
securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so at their own risk. Participant understands that no assurances can be given that any such other registration exemption will be available in such event. 

 EXHIBIT C 

GRANT OF IRREVOCABLE PROXY 

The undersigned hereby irrevocably appoints the Board of Directors of Histogenics Corporation (the “Company”) and any
representative designated by such Board, as the undersigned’s proxy with full power of substitution, to vote for the undersigned and on the undersigned’s behalf all of the Shares at all stockholder meetings of the Company and other votes
of the Company’s stockholders held or taken after the date hereof with respect to any matter, including without limitation the public offering of the Company’s shares, election of directors, acquisition of the Company (by merger, sale of
assets or shares or otherwise) or change in control in the Company, and irrevocably appoints the Board of Directors and any representative designated by such Board to sign any actions by written consent of the Company’s stockholders taken after
the date hereof on behalf of all of the Company’s Shares to effect the above. 
 “Shares” means Company’s shares
issued upon exercise of options granted to the undersigned under the Company’s 2012 Equity Incentive Plan. 
 This Proxy shall expire
immediately before the completion of an initial public offering by the Company of its shares pursuant to the Securities Act of 1933. 
 The
undersigned agrees that (i) in addition to all other legal or equitable remedies available, injunctive relief and specific performance may be utilized in the event of the breach or threatened breach of this Proxy, (ii) if any provision of
this Proxy shall be held to be invalid under applicable law, such provision shall be effective only to the extent of such invalidity and without invalidating the remainder of such provision or the other provisions in this Proxy, and (iii) the
certificates evidencing its shares in the Company, issued upon exercise of options granted under the Company’s 2012 Equity Incentive Plan, will bear the following legend in addition to any other legends required under any agreement or
applicable law: “THESE SECURITIES ARE SUBJECT TO A PROXY, A COPY OF WHICH IS AVAILABLE AT THE CORPORATION’S PRINCIPAL OFFICE”. 

This Proxy is granted in connection with the exercise of an option granted to the undersigned of the Company pursuant to and in accordance
with the Company’s 2012 Equity Incentive Plan and is coupled with an interest. The undersigned further agrees that this Proxy (i) shall survive the undersigned’s merger or dissolution, (ii) is binding upon the successors and
assignees (by operation of law or otherwise, whether for value or without value) of the undersigned’s shares in the Company, (iii) is governed by and construed in accordance with the laws of the State of Delaware without regard to its
conflicts of laws principles, (iv) supersedes and replaces any prior oral or written proxies or amendments thereto which may have been executed by the undersigned with respect to the Company’s securities, and (v) is for the benefit of
the Company and its stockholders and may be enforced by the Company or any of its stockholders. 
 Name of Stockholder:
                                         
    
 Signature of Stockholder:
                                         
    
 Date:

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