Document:

Form of Employee Confidentiality and Restrictive Covenant Agreement

 Exhibit 10.2 
 Delcath Systems, Inc. 
 EMPLOYEE CONFIDENTIALITY AND RESTRICTIVE
COVENANT AGREEMENT 
 AGREEMENT (“Agreement”) made this
                 day of
                         20    , between Delcath Systems, Inc., and its predecessors,
divisions, affiliates, successors, and assigns (the “Company”), and
                                         
       , residing at
                                         
    (“Employee”). 
 WHEREAS, the Company wishes to obtain reasonable protection of its confidential
business and technical information which it has developed, acquired and/or is or may be developed or acquired by the Company at substantial expenses, and 
 WHEREAS, the Company wishes to obtain reasonable protection against unfair competition during the Employees employment by the Company and following termination of the Employee’s employment by the
Company and to further protect against unfair use of its confidential business and technical information the Company desires to have Employee execute this Agreement, and 
 WHEREAS, the Employee is willing to execute this Agreement and grant the Company the benefits of the restrictive covenants contained herein. 

For and in consideration of the continued employment of Employee by the Company and compensation and benefits paid to Employee and
hereafter to be paid to Employee by the Company, Employee agrees as follows: 
  

	 	1.	NO PRIOR CONFLICTING CONTRACTS. 

 Employee represents that Employee’s employment or potential employment by the Company is not in violation of any contract or covenants to which Employee is a party with any employer, entity, or
person. Employee agrees not to use or disclose in Employee’s work with the Company any secret or confidential information of others, including prior employers, unless such information is rightfully possessed by the Company. 

 

	 	2.	DEFINITIONS 

 (a)
Confidential Information. For purposes of this Agreement, the term “Confidential Information” means information that is not generally known to the public and that is used, developed, or obtained by the Company in connection with its
business, including, but not limited to, information, observations, and data obtained by Employee while employed by the Company thereof concerning (i) the business or affairs of the Company, (ii) products or services, (iii) fees,
costs, compensation, and pricing structures, (iv) designs, (v) specifications (including, but not limited to, supplier specifications); (vi) clinical trial data; (vii) analyses, (viii) drawings, photographs and reports,
(ix) computer software, including operating systems, applications, and program listings, (x) flow charts, manuals, and documentation, (xi) data or data bases, (xii) accounting and business methods, (xiii) inventions,
devices, new developments, methods and processes, whether patentable or unpatentable and whether or not reduced to practice, (xiv)

 
customers and clients and customer or client lists, (xv) other copyrightable works, (xvi) all production methods, processes, technology, and trade secrets, and (xvii) all similar
and related information in whatever form. Confidential Information will not include any information that has been published (other than a disclosure by Employee in breach of this Agreement) in a form generally available to the public prior to the
date Employee proposes to disclose or use such information. Confidential Information will not be deemed to have been published merely because individual portions of the information have been separately published, but only if all material features
comprising such information have been published in combination. 
 (b) Work Product. For purposes of this Agreement, the
term “Work Product” means all inventions, innovations, improvements, technical information, systems, software developments, discoveries, methods, designs, processes, analyses, drawings, reports, service marks, trademarks, trade names,
logos, and all similar or related information (whether patentable or unpatentable, copyrightable, registerable as a trademark, reduced to writing, or otherwise) that relates to the Company’s actual or anticipated business, research and
development, or existing or future products or services and which are conceived, developed, or made by Employee (whether or not during usual business hours, whether or not by the use of the facilities of the Company, and whether or not alone or in
conjunction with any other person) while employed by the Company (including those conceived, developed, or made prior to the effective date of this Agreement) together with all patent applications, letters patent, trademark, trade name and service
mark applications or registrations, copyrights and reissues thereof that may be granted for or upon any of the foregoing. 
  

	 	3.	CONFIDENTIALITY REQUIREMENTS. 

 (a) Employee acknowledges and agrees that, as a result of the nature of the Company’s business and the nature of Employee’s position with the Company, Employee has been or will come into
contact with, and will have access to, Confidential Information belonging to the Company. Employee acknowledges that the aforementioned Confidential Information is unique and not generally known to the public with respect to the Company and has been
developed, acquired, and compiled by the Company at its great effort and expense. 
 (b) Employee further acknowledges
and agrees that any disclosure or use of the Company’s Confidential Information by Employee, other than in connection with the Company’s business or as specifically authorized by the Company, will be or may become highly detrimental to the
business of the Company, and serious loss of business and damage to the Company will or may result. 
 (c) Accordingly,
Employee agrees to hold all Confidential Information in the strictest confidence and agrees to safeguard and not use, disclose, divulge or reveal the Company’s Confidential Information to any person, either during Employee’s employment or
at any time after the termination of Employee’s employment with the Company, without specific prior written authorization from an executive officer of the Company. If Employee is an executive officer of the Company, Employee must obtain prior
written authorization from the Chief Executive Officer. 
 (d) Employee further agrees to promptly deliver to the
Company, upon the termination of Employee’s employment with the Company, or at any other time as the Company 

  
 2 

 
may so request, all Company property, including but not limited to laptops, personal digital assistants (PDAs), and cell phones, and all documentation, memoranda, notes, customer lists, records,
reports, blueprints, software, drawings, computer disks, programs, and any other documents (and all copies thereof) containing Confidential Information or relating to the Company’s business and any property associated therewith, which Employee
may then possess or have under Employee’s control. 
  

	 	4.	WORK PRODUCT REQUIREMENTS. 

(a) All Work Product that Employee may have conceived, developed, made, discovered, invented or originated during his/her
employment by the Company prior to the Effective Date, during Employee’s employment with the Company, or at any time in the period of twelve (12) months after termination of Employee’s employment, shall be deemed work for hire and
shall be the exclusive property of the Company, as applicable. Employee hereby assigns all of Employee’s right, title, and interest in and to such Work Product to the Company, including all intellectual property rights therein. 

(b) Employee shall promptly disclose all Work Product to the Company, shall execute at the request of the Company any assignments
or other documents the Company may deem necessary to protect or perfect its rights therein, and shall assist the Company, at the Company’s expense, in obtaining, defending, and enforcing the Company’s rights therein. Employee hereby
appoints the Company as Employee’s attorney-in-fact to execute on Employee’s behalf any assignments or other documents deemed necessary by the Company to protect or perfect the Company’s rights to any Work Product. 

 

	 	5.	NON-COMPETITION. 

(a) Employee acknowledges and agrees that the Company has invested and will invest substantial time, effort, resources and finances
in the research, development and commercialization of the Company’s product(s) and is engaged in a highly competitive business and that, by virtue of the position in which Employee is employed, he or she will help create and will be given
access to Confidential Information. If the Employee engages in any business that is competitive with the Company it will cause great and irreparable harm to the Company, the monetary loss from which would be difficult, if not impossible, to measure.

 (b) Consequently, Employee covenants and agrees that so long as Employee is employed by the Company, and for a period
of one (1) year following termination of Employee’s employment with the Company, whether such termination is voluntary or involuntary, Employee will not, directly or indirectly (whether as an individual for Employee’s own account, or
as a partner, joint venturer, employee, agent, consultant or sales representative, officer, director or shareholder of any entity or otherwise), engage in, enter the employ of, render any services to, have any ownership interest in, nor participate
in the financing, operation, management or control of, any Competing Business, or in any manner compete with the Company, in any country in which the Company does business, without the Company’s specific written consent to do so.
“Competing Business” shall mean any enterprise, activity, or business that competes with the Company in any of its or their material businesses, including, without limitation, the research, design, development, identification, manufacture,
marketing, or sales of targeted regional cancer or infectious disease drug delivery systems. 

  
 3 

 The restrictions contained in this section shall not prevent Employee from accepting employment with a large
diversified organization with separate and distinct divisions that do not compete, directly or indirectly, with the Company, as long as prior to accepting such employment the Company receives separate written assurances from the prospective employer
and from Employee, satisfactory to the Company, to the effect that Employee will not render any services, directly or indirectly, to any division or business unit that competes, directly or indirectly, with the Company. During the restrictive period
set forth in this section, Employee will inform any new employer, prior to accepting employment, of the existence of this Agreement and provide such employer with a copy of this Agreement. 
 Nothing in this Agreement shall be construed to prevent or otherwise restrict or limit the Employee from owning shares and investing (as a passive investor), directly or indirectly, in the stock of any
publicly traded competing corporation whose shares are listed on a national securities exchange or traded in the over-the-counter market, but only if Employee does not own more than an aggregate of one percent (1%) of the outstanding stock of
such corporation. 
  

	 	6.	NON-SOLICITATION OF CUSTOMERS AND EMPLOYEES. 

 (a) Employee acknowledges and agrees that, during the course of Employee’s employment by the Company, Employee may come into contact with and become aware of some, most, or all of the
Company’s customers and employees, past, present, and prospective, and their names and addresses, as well as other information about the customers and employees not publicly available. Employee further acknowledges and agrees that the loss of
such customers and employees may cause the Company great and irreparable harm. 
 (b) Consequently, Employee covenants
and agrees that, if Employee’s employment with the Company terminates, whether such termination is voluntary or involuntary, Employee will not, for a period of one (1) year following such termination, directly or indirectly (whether as an
individual for Employee’s own account, or as a partner, joint venturer, employee, agent, consultant or sales representative, officer, director or shareholder of any entity or otherwise), solicit or attempt to solicit to do business that would
compete with the Company in any of its or their material businesses, including, without limitation, the research, design, development, identification, manufacture, marketing, or sales of targeted regional cancer or infectious disease drug delivery
systems. 
 (c) Employee also agrees that, for a period of one (1) year following termination of Employee’s
employment with the Company, whether such termination is voluntary or involuntary, Employee will not, directly or indirectly (whether as an individual for Employee’s own account, or as a partner, joint venturer, employee, agent, consultant or
sales representative, officer, director or shareholder of any entity or otherwise), solicit or attempt to solicit any then current employee of the Company to leave employee’s employment with the Company to become employed by any person, firm,
corporation, or other entity. 
  

	 	7.	ENFORCEMENT OF COVENANTS. 

(a) Employee acknowledges that a breach by Employee of any of the terms of this Agreement will result in material, irreparable
injury to the Company for which any remedy at law will not be adequate. Moreover, it will not be possible to measure damages for such 

  
 4 

 
injuries precisely and, in the event of such a breach or threat of breach, the Company shall be entitled to obtain a temporary restraining order and/or a preliminary or permanent injunction
restraining Employee from engaging in activities prohibited by this Agreement, together with such other relief as may be required to enforce specifically any of the terms of this Agreement. Employee consents to such temporary, preliminary, or
permanent injunctive relief. Nothing in this Agreement shall be construed as prohibiting the Company from pursuing any other available remedies for breach or threatened breach of this Agreement, including recovery of damages, court costs, and
attorneys’ fees. 
 (b) If the Company is required to enforce any of its rights hereunder through legal proceedings,
Employee shall reimburse the Company for all reasonable costs, expenses, and attorneys’ fees incurred by the Company in connection with the enforcement of its rights hereunder. 

(c) Employee understands and agrees that nothing in this Agreement creates a contract, express or implied, of employment for any
specified period. Employee’s employment may be terminated by Employee or the Company at any time and for any reason or no reason, unless expressly limited by a separate writing executed by both the Company and Employee. 

(d) If one or more provisions of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal, or
unenforceable, Employee agrees the validity, legality, and enforcement of the remaining provisions of the Agreement shall not in any way be affected or impaired. Employee also agrees that the language contained in Sections “3”,
“4”, “5” and “6” of the Agreement is reasonable in scope and that Employee will not raise any issue regarding the reasonableness of the Agreement as a defense in any proceeding to enforce the Agreement. If a court
determines that the language contained in Sections “3”, “4”, “5” and “6” of the Agreement is not reasonable, the parties agree that the court may modify such provisions to the maximum period of restriction,
activities, term, or geographic scope that the court deems reasonable. 
  

	 	8.	WAIVER OF BREACH. 

 The
waiver by the Company of a breach of any provision of this Agreement by Employee shall not operate or be construed as a waiver of any subsequent breach by Employee, and the failure of the Company to take action against any other employee(s) for
similar breach(es) on their part, shall not be construed as a waiver of a breach by Employee. 
  

	 	9.	AGREEMENT BINDING. 

 This
Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company, and the heirs, executors, and administrators of Employee. The Company shall have the right to transfer and assign all or any portion of its rights
and obligations hereunder to any third party. 
  

	 	10.	APPLICABLE LAW AND CHOICE OF FORUM. 

 This Agreement shall be governed by and construed in accordance with the laws of the State of New York. The parties, being desirous of having any disputes resolved in a forum having a substantial body of
law and experience with matters contained herein, and the parties 

  
 5 

 
having a substantial connection with the State of New York, agree that any action or proceeding with respect to this Agreement shall be brought in a state or federal court located within the
State of New York. The parties consent to the personal jurisdiction of the state and federal courts of New York should a legal action to enforce this Agreement be necessary. 

 

	 	11.	MODIFICATION. 

 This
Agreement may only be modified by the express written consent of both parties. 
  

	 	12.	ENTIRE AGREEMENT. 

 This
Agreement constitutes the entire understanding between Company and Employee with respect to the subject matter hereof and supersedes and replaces all prior contracts, agreements and understandings related to the same subject matter between the
parties. 
  

	 	13.	SECTION HEADINGS 

 The
section headings appearing in this Agreement are inserted only as a matter of convenience and in no way define, limit, construe or describe the scope or extent of such section or in any way affect such section. 

I have read and understand this Agreement and I agree to abide by its terms. 

 

			
	[EMPLOYEE]	  	DELCATH SYSTEMS, INC.
		
	  
 (Signature)
	  	  

(Signature)

		
	  
 Date
	  	  
 Name

		
	  
 Witness
	  	  
 Title

		
		  	  
 Date

  
 6Employment Agreement

 Exhibit 10.30 
 EXECUTION COPY 
 CORONADO BIOSCIENCES, INC. 

EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into effective as of September 26, 2011 (the
“Effective Date”) by and between CORONADO BIOSCIENCES, INC. (the “Company”) and Noah D. Beerman (the “Executive”). The
Company and Executive are hereinafter collectively referred to as the “Parties”, and individually referred to as a “Party”. 
 RECITALS 
 A. The Company desires assurance of the association and
services of Executive in order to retain Executive’s experience, skills, abilities, background and knowledge, and is willing to engage Executive’s services on the terms and conditions set forth in this Agreement. 

B. Executive desires to be in the employ of the Company, and is willing to accept such employment on the terms and conditions set forth in this
Agreement. 
 AGREEMENT 
 In consideration of the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the Parties, intending to be legally bound, agree as
follows: 
  

	 	1.	EMPLOYMENT. 

1.1 Title. Effective as of the Effective Date, Executive’s position shall be Executive Vice President and Chief Operating
Officer, subject to the terms and conditions set forth in this Agreement. 
 1.2 Term. The term of this Agreement shall
begin on the Effective Date and shall continue until it is terminated pursuant to Section 4 herein (the “Term”). 
 1.3 Duties. Executive shall do and perform all services, acts or things necessary or advisable to manage and conduct the business of the Company and that are normally associated with the position
of Executive Vice President and Chief Operating Officer. Executive shall report to the Company’s Chief Executive Officer. 

1.4 Policies and Practices. The employment relationship between the Parties shall be governed by this Agreement and by the
policies and practices established by the Company and/or the Board, or any designated committee thereof. In the event that the terms of this Agreement differ from or are in conflict with the Company’s policies or practices or the Company’s
Employee Handbook, this Agreement shall control. 

  
 1. 

 1.5 Location. Unless the Parties otherwise agree in writing, during the Term
Executive shall perform the services Executive is required to perform pursuant to this Agreement from the Company’s offices in Burlington, MA (or such other headquarters of the Company), provided, however, that the Company
may from time to time require Executive to travel temporarily to other locations in connection with the Company’s business and provided, further that Executive shall have the right to perform the services Executive is required to perform
pursuant to this Agreement from his home office in Massachusetts. 
  

	 	2.	LOYALTY; NONCOMPETITION; NONSOLICITATION. 

2.1 Loyalty. During Executive’s employment by the Company, Executive shall devote Executive’s full business energies,
interest, abilities and productive time to the proper and efficient performance of Executive’s duties under this Agreement. Notwithstanding the foregoing, except as otherwise agreed to in writing, Executive shall have the right to perform such
incidental services as are necessary in connection with (a) his private passive investments, (b) his charitable or community activities, (c) his participation in trade or professional organizations, and (d) his service on the
board of directors (or comparable body) of one third-party corporate entity that is not a Competitive Entity (as defined in Section 2.3), so long as these activities do not interfere with Executive’s duties hereunder and, with respect to
(d), Executive obtains prior Company consent, which consent will not be unreasonably withheld. 
 2.2 Agreement not to
Participate in Company’s Competitors. During the Term, Executive agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by Executive to be adverse or antagonistic to the Company,
its business, or prospects, financial or otherwise, or in any company, person, or entity that is, directly or indirectly, in competition with the business of the Company or any of its Affiliates (as defined below). Ownership by Executive, in
professionally managed funds over which the Executive does not have control or discretion in investment decisions, or as a passive investment, of less than two percent (2%) of the outstanding shares of capital stock of any corporation with one
or more classes of its capital stock listed on a national securities exchange or publicly traded on a national securities exchange or in the over-the-counter market shall not constitute a breach of this Section. For purposes of this Agreement,
“Affiliate,” means, with respect to any specific entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such specified entity.

 2.3 Covenant not to Compete. During the Term and for a period of six (6) months thereafter (the
“Restricted Period”), Executive shall not engage in competition with the Company and/or any of its Affiliates, either directly or indirectly, in any manner or capacity, as adviser, principal, agent, affiliate, promoter,
partner, officer, director, employee, stockholder, owner, co-owner, consultant, or member of any association or otherwise, in any phase of the business of developing, manufacturing and marketing of products or services that are in the same field of
use and which materially compete with the products or services of the Company (a “Competitive Entity”), except with the prior written consent of the Board. 
 2.4 Nonsolicitation. During the Restricted Period, Executive shall not: (i) solicit or induce, or attempt to solicit or induce, any employee of the Company or its Affiliates to leave the
employ of the Company or such Affiliate; or (ii) solicit or attempt to solicit the business of any client or customer of the Company or its Affiliates with respect to products, services, or investments similar to those provided or supplied by
the Company or its Affiliates. 

  
 2. 

 2.5 Acknowledgements. Executive acknowledges and agrees that his services to the
Company pursuant to this Agreement are unique and extraordinary and that in the course of performing such services Executive shall have access to and knowledge of significant confidential, proprietary, and trade secret information belonging to the
Company. Executive agrees that the covenant not to compete and the nonsolicitation obligations imposed by this Section 2 are reasonable in duration, geographic area, and scope and are necessary to protect the Company’s legitimate business
interests in its goodwill, its confidential, proprietary, and trade secret information, and its investment in the unique and extraordinary services to be provided by Executive pursuant to this Agreement. If, at the time of enforcement of this
Section 2, a court holds that the covenant not to compete and/or the nonsolicitation obligations described herein are unreasonable or unenforceable under the circumstances then existing, then the Parties agree that the maximum duration, scope,
and/or geographic area legally permissible under such circumstances will be substituted for the duration, scope and/or area stated herein. 
  

	 	3.	COMPENSATION OF THE EXECUTIVE. 

3.1 Base Salary. The Company shall pay Executive a base salary at the annualized rate of Three Hundred and Twenty Five Thousand
Dollars ($325,000.00) (the “Base Salary”), less payroll deductions and all required withholdings, payable in regular periodic payments in accordance with the Company’s normal payroll practices. The Base Salary shall be
prorated for any partial year of employment on the basis of a 365-day fiscal year. 
 3.2 Annual Milestone Bonus. At the
sole discretion of the Board of Directors or the compensation committee of the Board (the “Compensation Committee”), following each calendar year of employment Executive shall be eligible to receive an additional cash bonus
of up to forty-five percent (45%) of the Base Salary (the “Annual Milestone Bonus”), based on Executive’s attainment of certain financial, clinical development, and/or business milestones (the
“Milestones”) to be established annually by the Board or the Compensation Committee. The determination of whether Executive has met the Milestones, and if so, the bonus amount (if any) that will be paid, shall be determined
by the Board or the Compensation Committee in its sole and absolute discretion. Executive must remain employed by the Company through and including the last day of the calendar year in order to be eligible to earn or receive any Annual Milestone
Bonus for that year. Any Annual Milestone Bonuses shall be paid in cash as either single lump-sum payments or in installments, as determined by the Board or the Compensation Committee. Executive shall also be entitled to any other bonuses at the
sole discretion of the Board. 
 3.3 Market Capitalization Milestones. 

(i) Subject to Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s (or a
duly-authorized committee’s) determination that the Market Capitalization (as defined below) of the Company has, for the first time, exceeded One Hundred Twenty-Five Million Dollars ($125,000,000) for a period of thirty (30) consecutive
trading days during the Term and the average trading volume of the Company’s 

  
 3. 

 
common stock (the “Common Stock”) during such period is at least Fifty Thousand (50,000) shares per trading day (the “First Capitalization
Milestone”), then the Company shall pay to the Executive a one time cash bonus of Forty Six Thousand Eight Hundred Seventy-Five Dollars ($46,875), subject to standard payroll deductions and withholdings. 

(ii) Subject to the Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s
(or a duly-authorized committee’s) determination that the Market Capitalization of the Company has, for the first time, exceeded Two Hundred Fifty Million Dollars ($250,000,000) for a period of thirty (30) consecutive trading days during
the Term and the average trading volume of the Common Stock during such period is at least One Hundred Thousand (100,000) shares per trading day (the “Second Capitalization Milestone”), then the Company shall pay to the
Executive a one time cash bonus of Ninety Three Thousand Seven Hundred Fifty Dollars ($93,750), subject to standard payroll deductions and withholdings. 
 (iii) Subject to the Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s (or a duly-authorized committee’s) determination that the
Market Capitalization of the Company has, for the first time, exceeded Five Hundred Million Dollars ($500,000,000) for a period of thirty (30) consecutive trading days during the Term and the average trading volume of the Common Stock during
such period is at least One Hundred Thousand (100,000) shares per trading day (the “Third Capitalization Milestone”), then the Company shall pay to the Executive a one time cash bonus of One Hundred Eighty Seven Thousand
Five Hundred Dollars ($187,500), subject to standard payroll deductions and withholdings. 
 (iv) Subject to the
Executive’s continued employment, upon (or as soon as administratively practicable following) the Board’s (or a duly-authorized committee’s) determination that the Market Capitalization of the Company has, for the first time, exceeded
One Billion Dollars ($1,000,000,000) for a period of thirty (30) consecutive trading days during the Term and the average trading volume of the Common Stock during such period is at least one hundred thousand (100,000) shares per trading
day (the “Fourth Capitalization Milestone”), then the Company shall pay to the Executive a onetime cash bonus of Three Hundred Seventy Five Thousand Dollars ($375,000), subject to standard payroll deductions and withholdings.

 (v) For purposes of this Agreement, “Market Capitalization” shall be determined by multiplying the
total shares of the Company’s Common Stock on a fully diluted basis by the last reported closing price of the Company’s Common Stock on a nationally recognized exchange, NASDAQ, or in the over-the-counter market as reported by the National
Quotation Bureau or similar organization. 
 (vi) For the avoidance of doubt, Executive will not earn and will not be paid any
of the Capitalization Milestones described herein unless (in addition to the conditions described above) he remains employed by the Company through the date of payment of the applicable Milestone. 

3.4 Stock Options. Subject to approval by the Board and subject to the terms of the Company’s 2007 Stock Incentive Plan (the
“Plan”), Executive will be granted, effective as of the later of the Effective Date or the date of Board approval, an option to purchase Two Hundred Twenty Five Thousand (225,000) shares of the
Company’s Common Stock (the “Option”). On each anniversary of the effective grant date of the Option, one-third of the shares 

  
 4. 

 
subject to the Option shall vest, subject to Executive’s continued employment with the Company on each such vesting date. The Option will be governed by the Plan and shall be granted
pursuant to a separate stock option grant notice and stock option agreement. The exercise price per share of the Option will be equal to the fair market value of a single share of Common Stock on the effective date of the grant as determined in good
faith by the Board. 
 3.5 Expense Reimbursements. The Company will reimburse Executive for all reasonable business
expenses Executive incurs in conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies, but in no event later than thirty days after the end of the calendar month following the month in which such expenses
were incurred by Executive; provided that Executive supplies the appropriate substantiation for such expenses no later than the end of the calendar month following the month in which such expenses were incurred by Executive. 

3.6 Changes to Compensation. Executive’s compensation will be reviewed at least on an annual basis and the Base Salary may be
increased from time to time in the Company’s sole discretion. Executive’s Base Salary also may be reduced in connection with any Company-wide decrease in executive compensation. 

3.7 Employment Taxes. All of Executive’s compensation shall be subject to customary withholding taxes and any other
employment taxes as are commonly required to be collected or withheld by the Company. 
 3.8 Benefits. The Executive
shall, in accordance with Company policy and the applicable plan documents, be eligible to participate in benefits under any benefit plan or arrangement, including medical, dental, vision, disability and life insurance programs, that may be in
effect from time to time and made available to the Company’s senior management employees, subject to the terms and conditions of those benefit plans. Notwithstanding the foregoing, in lieu of participating in the Company’s group
health plan, at the Executive’s election, provided that Executive is eligible for and timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (together with any state or local laws of
similar effect, “COBRA”) under the group health plans of his former employer, and subject to Executive’s continued employment with the Company on each reimbursement date, the Company will reimburse Executive for
(i) the documented monthly premiums Executive pays for such COBRA coverage for Executive and his eligible dependents, at the same level of coverage elected as of his separation date from such former employer plus, (ii) to the extent such
reimbursement payments are taxable to Executive, a gross-up payment in an amount equal to the amount of such taxes, with the sum of (i) and (ii) not to exceed in the aggregate for any month the amount the Company would have paid for such
month had Executive participated in the Company group health plan. For purposes of this Section 3.8, references to premiums for COBRA coverage shall not include any amounts payable by the Executive under an Internal Revenue Code
Section 125 health care reimbursement plan. To obtain reimbursement, Executive must complete an expense report with appropriate documentation of each premium payment. The Company will reimburse Executive for each premium payment pursuant to its
usual expense reimbursement policies, but in no event later than thirty days after the end of the calendar month following the month in which such premium payment was made, provided that Executive must submit the expense report and appropriate
documentation no later than the end of 

  
 5. 

 
the calendar month following the month in which such premium payment was made. Reimbursement of Executive’s COBRA premiums pursuant to this Section 3.8 shall be subject to any
applicable tax withholding. 
 3.9 Reimbursement for Life Insurance Premiums. Subject to Executive’s continued
employment with the Company on each reimbursement date, the Company shall reimburse Executive for the documented annual premium Executive pays for a term life insurance policy, if any, with up to $1,000,000 of coverage. To obtain reimbursement,
Executive must complete an expense report with appropriate documentation of each premium payment. The Company will reimburse Executive for each premium payment pursuant to its usual expense reimbursement policies, but in no event later than thirty
days after the end of the calendar month following the month in which such premium payment was made, provided that Executive must submit the expense report and appropriate documentation no later than the end of the calendar month following the month
in which such premium payment was made. Reimbursement of Executive’s life insurance premiums pursuant to this Section 3.9 shall be in the form of fully taxable cash payments, subject to any applicable tax withholding. 

3.10 Holidays and Vacation. Executive shall receive no less than four (4) weeks of paid vacation per year, which cannot be
taken in one four (4) week increment, but which shall accrue if not used in any year and be paid to Executive or carried forward to subsequent years consistent with Company policy and will receive paid Company holidays in accordance with
Company policy. 
  

	 	4.	TERMINATION. 

 4.1 Termination by the Company. Executive’s employment with the Company is at will and may be terminated by the Company at any time and for any reason, or for no reason, including, but not
limited to, under the following conditions: 
 4.1.1 Termination by the Company for Cause. The Company may terminate
Executive’s employment under this Agreement for “Cause” (as defined below) by delivery of written notice to Executive. Any notice of termination given pursuant to this Section 4.1.1 shall effect termination as of the date of the
notice, or as of such other date as specified in the notice. 
 4.1.2 Termination by the Company without Cause. The
Company may terminate Executive’s employment under this Agreement without Cause at any time and for any reason, or for no reason. Such termination shall be effective on the date Executive is so informed, or as otherwise specified by the
Company. 
 4.2 Termination by Resignation of Executive. Executive’s employment with the Company is at will and may
be terminated by Executive at any time and for any reason, or for no reason, including via a resignation for Good Reason in accordance with the procedures set forth in Section 4.6.3 below. 

4.3 Termination for Death or Complete Disability. Executive’s employment with the Company shall automatically terminate
effective upon the date of Executive’s death or Complete Disability (as defined below). 

  
 6. 

 4.4 Termination by Mutual Agreement of the Parties. Executive’s employment with
the Company may be terminated at any time upon a mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified in such agreement. 

4.5 Compensation Upon Termination. 
 4.5.1 Death or Complete Disability. If, during the Term of this Agreement, Executive’s employment shall be terminated by death or Complete Disability, the Company shall pay to Executive, his
estate, or his heirs, as applicable, any Base Salary owed to Executive, expenses reimbursement amounts owed to Executive, all unpaid amounts of any Annual Milestone Bonus(es) Executive earned prior to the termination date, and accrued and unused
vacation benefits earned through the date of termination at the rate in effect at the time of termination, less standard deductions and withholdings. In addition, subject to Executive (or his estate or heirs, as applicable) furnishing to the Company
an executed waiver and release of claims in the form attached hereto as Exhibit A (or in such other form as may later be specified by the Company) (the “Release”) within the time period specified therein, and allowing
the Release to become effective in accordance with its terms, then Executive, his estate, or his heirs, as applicable, shall also be entitled to: (1) continuation of Executive’s salary (at the Base Salary rate in effect at the time of
termination) for a period of ninety (90) days following the termination date; and (2) partial accelerated vesting of each of Executive’s outstanding stock options such that, on the effective date of the Release (as defined therein),
Executive shall receive immediate accelerated vesting of each option with respect to the same number of shares that would have vested if Executive had continued in employment with the Company through the next anniversary of the grant date for such
option, in accordance with the vesting schedule applicable to such option, provided, however, that if the termination date falls on an anniversary of the grant date of any stock option, no accelerated vesting will be provided for such
stock option. All stock options that have vested in connection with Executive’s termination under this Section 4.5.1 shall remain exercisable for ninety (90) days following such termination. The Base Salary payments will be subject to
standard payroll deductions and withholdings and will be made on the Company’s regular payroll cycle, provided, however, that any payments otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in the
first payroll period that follows such effective date. 
 4.5.2 Termination For Cause or Resignation without Good Reason.
If, during the Term of this Agreement, Executive’s employment is terminated by the Company for Cause, or Executive resigns his employment hereunder without Good Reason, the Company shall pay Executive any Base Salary owed to Executive,
expenses reimbursement amounts owed to Executive, all unpaid amounts of any Annual Milestone Bonus(es) Executive earned prior to the termination date by meeting the conditions set forth in Section 3.2, and accrued and unused vacation benefits
earned through the date of termination at the rate in effect at the time of termination, less standard deductions and withholdings. The Company shall thereafter have no further obligations to Executive under this Agreement, except as otherwise
provided by law. 
 4.5.3 Termination Without Cause or Resignation For Good Reason Not In Connection with a Change of
Control. If the Company terminates Executive’s employment without Cause, or if Executive resigns for Good Reason, at any time other than 

  
 7. 

 
upon the occurrence of, or within the six (6) months following, the effective date of a Change of Control (as defined below), the Company shall pay Executive any Base Salary owed to
Executive, expenses reimbursement amounts owed to Executive, all unpaid amounts of any Annual Milestone Bonus(es) Executive earned prior to the termination date, and accrued and unused vacation benefits earned through the date of termination at the
rate in effect at the time of termination, less standard deductions and withholdings. In addition, subject to Executive furnishing to the Company an executed Release within the time period specified therein, and allowing the Release to become
effective in accordance with its terms, Executive shall be entitled to: (1) severance in the form of continuation of his salary (at the Base Salary rate in effect at the time of termination) for a period of six (6) months following the
termination date; and (2) accelerated vesting of each of Executive’s outstanding stock options such that, on the effective date of the Release, Executive shall receive immediate accelerated vesting of each option with respect to the same
number of shares that would have vested if Executive had continued in employment with the Company through the next anniversary of the grant date for such option, in accordance with the vesting schedule applicable to such option, provided,
however, that if the termination date falls on an anniversary of the grant date of any stock option, no accelerated vesting will be provided for such stock option. All stock options that have vested in connection with Executive’s
termination under this Section 4.5.3 shall remain exercisable for ninety (90) days following such termination. These payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s regular
payroll cycle, provided, however, that any payments otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in the first payroll period that follows such effective date. 

4.5.4 Termination Without Cause or Resignation For Good Reason In Connection with a Change of Control. If the Company terminates
Executive’s employment without Cause, or if Executive resigns for Good Reason, upon the occurrence of, or within the six (6) months following, the effective date of a Change of Control, the Company shall pay Executive any Base Salary owed
to Executive, expenses reimbursement amounts owed to Executive, all unpaid amounts of any Annual Milestone Bonus(es) Executive earned prior to the termination date, and accrued and unused vacation benefits earned through the date of termination at
the rate in effect at the time of termination, less standard deductions and withholdings. In addition, subject to Executive furnishing to the Company an executed Release within the time period specified therein, and allowing the Release to become
effective in accordance with its terms, then Executive shall be entitled to: (1) severance in the form of continuation of his salary (at the Base Salary rate in effect at the time of termination) for a period of twelve (12) months
following the termination date; and (2) immediate accelerated vesting of any unvested shares subject to any outstanding stock option(s), such that, on the effective date of the Release, the Executive shall be vested in one hundred percent
(100%) of the shares subject to such option(s). The Base Salary payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s regular payroll cycle, provided, however, that any payments
otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in the first payroll period that follows such effective date. 

  
 8. 

 4.6 Definitions. For purposes of this Agreement, the following terms shall have the
following meanings: 
 4.6.1 Complete Disability. A termination for “Complete Disability” shall
occur: (i) when the Board has provided a written termination notice to Executive supported by a written statement from a reputable independent physician to the effect that Executive is or shall have become so physically or mentally
incapacitated as to be unable to resume, within the ensuing six (6) months, his employment under this Agreement by reason of such physical or mental illness or injury; or (ii) upon rendering of a written termination notice by the Board
after the Board determines, in its sole and complete discretion, that Executive has been unable to substantially perform his job duties hereunder for sixty (60) or more consecutive days, or more than one hundred and twenty (120) days in
any consecutive twelve (12) month period, by reason of any physical or mental illness or injury. For purposes of this Section, at the Company’s request Executive agrees to make himself available and to cooperate in a reasonable examination
by a reputable independent physician retained by the Company. 
 4.6.2 Cause. “Cause” for the
Company to terminate Executive’s employment hereunder shall mean the occurrence of any of the following events, as determined by the Company and/or the Board in its and/or their sole and absolute discretion: 

(i) The willful failure, disregard or refusal by Executive to perform his material duties or obligations under this Agreement which, to
the extent it is curable by the Executive, is not cured within thirty (30) days after written notice thereof is given to Executive by the Company; 
 (ii) Any willful, intentional or grossly negligent act by Executive having the effect of materially injuring (whether financially or otherwise) the business or reputation of the Company or any of its
Affiliates, including but not limited to, any senior officer, director or executive of the Company or any of its Affiliates; 

(iii) Willful misconduct by Executive with respect to any of the material duties or obligations of Executive under this Agreement,
including, without limitation, willful insubordination with respect to lawful directions received by Executive from the Board which, to the extent it is curable by the Executive, is not cured within thirty (30) days after written notice thereof
is given to Executive by the Company; 
 (iv) Executive’s indictment of any felony involving moral turpitude (including
entry of a nolo contendere plea); 
 (v) The determination, after a reasonable and good-faith investigation by the
Company, that the Executive engaged in some form of harassment or discrimination prohibited by law (including, without limitation, age, sex or race harassment or discrimination); 

(vi) Executive’s material misappropriation or embezzlement of the property of the Company or its Affiliates (whether or not a
misdemeanor or felony); or 
 (vii) Material breach by Executive of any of the provisions of this Agreement, of any Company
policy, and/or of his Proprietary Information and Inventions Agreement. 
 For purposes of this definition, the Parties agree that any breach of
Sections 2 or 5 of this Agreement shall be deemed a material breach that is not capable of cure by Executive. 

  
 9. 

 4.6.3 Good Reason. For purposes of this Agreement, and subject to the caveat at the
end of this Section, “Good Reason” for Executive to terminate his employment hereunder shall mean the occurrence of any of the following events without Executive’s consent: 

(i) a material reduction by the Company of Executive’s Base Salary as initially set forth herein or as the same may be increased
from time to time, provided, however, that if such reduction occurs in connection with a Company-wide decrease in Executive compensation, such reduction shall not constitute Good Reason for Executive to terminate his employment; 

(ii) a material breach of this Agreement by the Company; or 
 (iii) a material adverse change in Executive’s duties, authority, or responsibilities relative to Executive’s duties, authority, or responsibilities in effect immediately prior to such
reduction. 
 Provided, however, that, any such termination by Executive shall only be deemed for Good Reason pursuant to this
definition if: (1) Executive gives the Company written notice of his intent to terminate for Good Reason within thirty (30) days following the first occurrence of the condition(s) that he believes constitute(s) Good Reason, which notice
shall describe such condition(s); (2) the Company fails to remedy such condition(s) within thirty (30) days following receipt of the written notice (the “Cure Period”); and (3) Executive voluntarily terminates
his employment within thirty (30) days following the end of the Cure Period. 
 4.6.4 Change of Control. For
purposes of this Agreement, “Change of Control” shall mean the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events (excluding in any case transactions in which the Company
or its successors issues securities to investors primarily for capital raising purposes): 
 (i) the acquisition by a
third party of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction;

 (ii) a merger, consolidation or similar transaction following which the stockholders of the Company immediately prior
thereto do not own at least fifty percent (50%) of the combined outstanding voting power of the surviving entity (or that entity’s parent) in such merger, consolidation or similar transaction; 

(iii) the dissolution or liquidation of the Company; or 
 (iv) the sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 
 4.7 Survival of Certain Sections. Sections 2, 4, 5, 6, 7, 8, 9, 12, 13, 16, 17 and 19 of this Agreement will survive the termination of this Agreement. 

4.8 Parachute Payment. If any payment or benefit the Executive would receive pursuant to this Agreement
(“Payment”) would (i) constitute a “Parachute Payment” 

  
 10.

 
within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) but for this sentence, be subject to the excise
tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be reduced to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the
Payment that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion of the Payment, which such amount, after taking into account all applicable federal, state and local employment taxes, income
taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Executive’s receipt, on an after-tax basis, of the greatest economic benefit notwithstanding that all or some portion of the Payment may be subject
to the Excise Tax. If a reduction in payments or benefits constituting Parachute Payments is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order: (i) reduction of cash payments;
(ii) cancellation of accelerated vesting of equity awards other than stock options; (iii) cancellation of accelerated vesting of stock options; and (iv) reduction of other benefits paid to Executive. Within any such category of
payments and benefits (that is, (i), (ii), (iii) or (iv)), a reduction shall occur first with respect to amounts that are not “deferred compensation” within the meaning of Section 409A (as defined in Section 4.9 below) and
then with respect to amounts that are. In the event that acceleration of compensation from Executive’s equity awards is to be reduced, such acceleration of vesting shall be canceled, subject to the immediately preceding sentence, in the reverse
order of the date of grant. 
 In the event it is subsequently determined by the Internal Revenue Service that some portion of
the Reduced Amount (as determined pursuant to clause (x) in the preceding paragraph) is subject to the Excise Tax, Executive agrees to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced Amount is
subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount is determined in accordance with clause (y) in the preceding paragraph, Executive will have no obligation to return any portion of the Payment pursuant to the
preceding sentence. 
 Unless Executive and the Company agree on an alternative accounting, law or consulting firm, the
accounting firm then engaged by the Company for general tax compliance purposes shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group
effecting the Change in Control, the Company shall appoint a nationally recognized accounting, law or consulting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such
accounting, law or consulting firm required to be made hereunder. 
 The Company shall use commercially reasonable efforts such
that the accounting, law or consulting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to Executive and the Company within fifteen (15) calendar days after the
date on which Executive’s right to a Payment is triggered (if requested at that time by the Executive or the Company) or such other time as requested by the Executive or the Company. 

4.9 Application of Internal Revenue Code Section 409A. Notwithstanding anything to the contrary set forth herein, any
payments and benefits provided under this Agreement (the “Severance Benefits”) that constitute “deferred compensation” within the meaning of Section 409A of the Code and the regulations and other guidance
thereunder and any 

  
 11.

 
state law of similar effect (collectively “Section 409A”) shall not commence in connection with Executive’s termination of employment unless and until Executive has
also incurred a “separation from service” (as such term is defined in Treasury Regulation Section 1.409A-1(h) (“Separation From Service”), unless the Company reasonably determines that such amounts may be
provided to Executive without causing Executive to incur the additional 20% tax under Section 409A. 
 It is intended that
each installment of the Severance Benefits payments provided for in this Agreement is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the
Severance Benefits set forth in this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However,
if the Company (or, if applicable, the successor entity thereto) determines that the Severance Benefits constitute “deferred compensation” under Section 409A and Executive is, on the termination of service, a “specified
employee” of the Company or any successor entity thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under
Section 409A, the timing of the Severance Benefit payments shall be delayed until the earlier to occur of: (i) the date that is six months and one day after Executive’s Separation From Service, or (ii) the date of
Executive’s death (such applicable date, the “Specified Employee Initial Payment Date”), the Company (or the successor entity thereto, as applicable) shall (A) pay to Executive a lump sum amount equal to the sum of
the Severance Benefit payments that Executive would otherwise have received through the Specified Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this Section and
(B) commence paying the balance of the Severance Benefits in accordance with the applicable payment schedules set forth in this Agreement. 
 Notwithstanding anything to the contrary set forth herein, Executive shall receive the Severance Benefits described above, if and only if Executive duly executes and returns to the Company within the
applicable time period set forth therein, but in no event more than forty-five days following Separation From Service, a separation agreement containing the Company’s standard form of release of claims in favor of the Company (attached to this
Agreement as Exhibit A) and other standard provisions, including without limitation, those relating to non-disparagement and confidentiality (the “Separation Agreement”), and permits the release of claims contained
therein to become effective in accordance with its terms. Notwithstanding any other payment schedule set forth in this Agreement, none of the Severance Benefits will be paid or otherwise delivered prior to the effective date of the Separation
Agreement. Except to the extent that payments may be delayed until the Specified Employee Initial Payment Date pursuant to the preceding paragraph, on the first regular payroll pay day following the effective date of the Separation Agreement, the
Company will pay Executive the Severance Benefits Executive would otherwise have received under the Agreement on or prior to such date but for the delay in payment related to the effectiveness of the Separation Agreement, with the balance of the
Severance Benefits being paid as originally scheduled. All amounts payable under the Agreement will be subject to standard payroll taxes and deductions. 

  
 12.

	 	5.	CONFIDENTIAL AND PROPRIETARY INFORMATION. 

As a condition of employment Executive agrees to execute and abide by the Company’s Proprietary Information and Inventions Agreement
(“PIIA”). 
  

	 	6.	ASSIGNMENT AND BINDING EFFECT. 

This Agreement shall be binding upon and inure to the benefit of Executive and Executive’s heirs, executors, personal
representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of Executive’s duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be
assignable by Executive. This Agreement shall be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. Any such successor of the Company will be deemed substituted for the Company under the terms
of this Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation or other business entity which at any tie, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially
all of the assets or business of the Company. 
  

	 	7.	NOTICES. 

All notices or demands of any kind required or permitted to be given by the Company or Executive under this Agreement shall be given in
writing and shall be personally delivered (and receipted for) or faxed during normal business hours or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Company: 
 Coronado Biosciences, Inc. 
 15 New England Executive Park 

Burlington, MA 01803 
 If to Executive: 
 Noah D. Beerman 

10 Sawmill Road 

Acton, MA 01720 
 Any such
written notice shall be deemed given on the earlier of the date on which such notice is personally delivered or three (3) days after its deposit in the United States mail as specified above. Either Party may change its address for notices by
giving notice to the other Party in the manner specified in this Section. 

  
 13.

	 	8.	CHOICE OF LAW. 

 This Agreement shall be construed and interpreted in accordance with the internal laws of the State of New York without regard to its conflict of laws principles. 

 

	 	9.	INTEGRATION. 

 This Agreement, including Exhibit A and the PIIA, contains the complete, final and exclusive agreement of the Parties relating to the terms and conditions of Executive’s employment and the
termination of Executive’s employment, and supersedes all prior and contemporaneous oral and written employment agreements or arrangements between the Parties, including the Consulting Agreement between the Parties dated May 10, 2011.

  

	 	10.	AMENDMENT. 

This Agreement cannot be amended or modified except by a written agreement signed by Executive and the Company. 

 

	 	11.	WAIVER. 

No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the
Party against whom the wavier is claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach.

  

	 	12.	SEVERABILITY. 

 The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement shall not render any other provision of this Agreement unenforceable,
invalid or illegal. Such court shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision, which most accurately represents the Parties’ intention with respect to
the invalid or unenforceable term, or provision. 
  

	 	13.	INTERPRETATION; CONSTRUCTION. 

 The headings set forth in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the
Company, but the Executive has been encouraged to consult with, and has consulted with, Executive’s own independent counsel and tax advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel
has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this
Agreement. 
  

	 	14.	REPRESENTATIONS AND WARRANTIES. 

Executive represents and warrants that Executive is not restricted or prohibited, contractually or otherwise, from entering into and
performing each of the terms and covenants 

  
 14.

 
contained in this Agreement, and that Executive’s execution and performance of this Agreement will not violate or breach any other agreements between the Executive and any other person or
entity. 
  

	 	15.	COUNTERPARTS. 

 This Agreement may be executed in two counterparts, each of which shall be deemed an original, all of which together shall contribute one and the same instrument. 

 

	 	16.	ARBITRATION. 

 To ensure the rapid and economical resolution of disputes that may arise in connection with the Executive’s employment with the Company, Executive and the Company agree that any and all disputes,
claims, or causes of action, in law or equity, arising from or relating to Executive’s employment, or the termination of that employment, will be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration
pursuant to the Federal Arbitration Act in New York, New York conducted by the Judicial Arbitration and Mediation Services/Endispute, Inc. (“JAMS”), or its successors, under the then current rules of JAMS for employment
disputes; provided that the arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration
decision including the arbitrator’s essential findings and conclusions and a statement of the award. Accordingly, Executive and the Company hereby waive any right to a jury trial. Both Executive and the Company shall be entitled to all rights
and remedies that either Executive or the Company would be entitled to pursue in a court of law. The Company shall pay any JAMS filing fee and shall pay the arbitrator’s fee. The arbitrator shall have the discretion to award attorneys fees to
the party the arbitrator determines is the prevailing party in the arbitration. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the
conclusion of any such arbitration. Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue or dispute involving confidential, proprietary or trade secret information, or intellectual property rights, by
Court action instead of arbitration. 
  

	 	17.	INDEMNIFICATION. 

 The Company shall defend and indemnify Executive in his capacity as Executive Vice President and Chief Operating Officer of the Company to the fullest extent permitted under the Delaware General Corporate
Law (the “DGCL”). The Company shall also maintain a policy for indemnifying its officers and directors, including but not limited to the Executive, for all actions permitted under the DGCL taken in good faith pursuit of their
duties for the Company, including but not limited to maintaining an appropriate level of Directors and Officers Liability coverage and maintaining the inclusion of such provisions in the Company’s by-laws or certificate of incorporation, as
applicable and customary. The rights to indemnification shall survive any termination of this Agreement. 

  
 15.

	 	18.	TRADE SECRETS OF OTHERS. 

It is the understanding of both the Company and Executive that Executive shall not divulge to the Company and/or its subsidiaries any
confidential information or trade secrets belonging to others, including Executive’s former employers, nor shall the Company and/or its Affiliates seek to elicit from Executive any such information. Consistent with the foregoing, Executive
shall not provide to the Company and/or its Affiliates, and the Company and/or its Affiliates shall not request, any documents or copies of documents containing such information. 

 

	 	19.	ADVERTISING WAIVER. 

 Executive agrees to permit the Company, and persons or other organizations authorized by the Company, to use, publish and distribute advertising or sales promotional literature concerning the products
and/or services of the Company, or the machinery and equipment used in the provision thereof, in which Executive’s name and/or pictures of Executive taken in the course of Executive’s provision of services to the Company appear. Executive
hereby waives and releases any claim or right Executive may otherwise have arising out of such use, publication or distribution. 
 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written. 

 

					
	CORONADO BIOSCIENCES, INC.
		
	By:	 	 /s/ Bobby W. Sandage,
Jr.

					
		 	Name: Bobby W. Sandage, Jr., Ph.D
		 	Its: President and Chief Executive Officer

					
		
	Dated:	 	
9/24/2011

					
	
	EXECUTIVE:
	
	 /s/ Noah D. Beerman

	NOAH D. BEERMAN

					
		
	Dated:	 	 9/23/11

  
 16.

 EXHIBIT A 
 RELEASE AND WAIVER OF CLAIMS 
 TO BE SIGNED ON OR FOLLOWING THE
SEPARATION DATE ONLY 
 In consideration of the payments and other benefits set forth in the Employment Agreement effective
as of September 26, 2011, to which this form is attached, I, Noah D. Beerman, hereby furnish CORONADO BIOSCIENCES, INC. (the “Company”), with the following release and
waiver (“Release and Waiver”). 
 In exchange for the consideration provided to me by the Employment
Agreement that I am not otherwise entitled to receive, I hereby generally and completely release the Company and its current and former directors, officers, employees, stockholders, partners, agents, attorneys, predecessors, successors, parent and
subsidiary entities, insurers, affiliates, and assigns (collectively, the “Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to
events, acts, conduct, or omissions occurring prior to or on the date that I sign this Agreement (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (a) all claims arising out of
or in any way related to my employment with the Company, or the termination of that employment; (b) all claims related to my compensation or benefits from the Company including salary, bonuses, commissions, vacation pay, expense reimbursements,
severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all
tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation,
misclassification, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the
“ADEA”), the fair employment practices statutes of the state or states in which I have provided services to the Company and/or any other federal, state or local law, regulation or other requirement. Notwithstanding the
foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (a) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to
which I am a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (b) any rights or claims to unemployment compensation, funds accrued in my 401k account, or any vested equity incentives; (c) any
rights that are not waivable as a matter of law; or (d) any claims arising from the breach of this Agreement. I hereby represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of
the Released Parties that are not included in the Released Claims. 
 I expressly waive and relinquish any and all rights and
benefits under any applicable law or statute providing, in substance, that a general release does not extend to claims which a party does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or
her would have materially affected the terms of such release. 

 I acknowledge that, among other rights, I am waiving and releasing any rights I may have
under ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. If I am 40 years of
age or older upon execution of this Release and Waiver, I further acknowledge that I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the
ADEA which may arise after this Release and Waiver is executed; (b) I should consult with an attorney prior to executing this Release and Waiver; and (c) I have twenty-one (21) days from the date of termination of my employment with
the Company in which to consider this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver earlier); (d) I have seven (7) days following the execution of this Release and Waiver to revoke my consent to
this Release and Waiver; and (e) this Release and Waiver shall not be effective until the seven (7) day revocation period has expired without my having previously revoked this Release and Waiver. 

I acknowledge my continuing obligations under my Proprietary Information and Inventions Agreement. Pursuant to the Proprietary
Information and Inventions Agreement I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and I must immediately return all Company property and documents (including all
embodiments of proprietary information) and all copies thereof in my possession or control. I understand and agree that my right to the severance pay I am receiving in exchange for my agreement to the terms of this Release and Waiver is contingent
upon my continued compliance with my Proprietary Information and Inventions Agreement. 
 This Release and Waiver constitutes
the complete, final and exclusive embodiment of the entire agreement between the Company and me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This
Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer of the Company. 
  

													
	 Date:
	 	  
	 		 		 		 	By:	 	  

		 		 		 		 		 		 	Noah D. Beerman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]