SEC Contract Filing

Filing Date: 2016-05-03

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<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="margin: 0; text-align: right">Exhibit 10.1</P>

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<P STYLE="color: #405242; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">8201 E Riverside
Dr. Bldg. 4, Ste. 100<FONT STYLE="font-family: Wingdings 2">&mdash;</FONT> Austin, TX 78744<FONT STYLE="font-family: Wingdings 2">&mdash;
</FONT>Phone: (512) 386-2900 <FONT STYLE="font-family: Wingdings 2">&mdash;</FONT> Fax: (512) 386-5505</FONT></P>

<P STYLE="color: #405242; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Web: www.xbiotech.com</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Scott Whitehurst</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Re: Offer of Employment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Scott,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On behalf of XBiotech USA Inc., I am pleased
to offer you a position as Chief Financial Officer. In this capacity, you will be paid at a gross semi-monthly rate of $16,666.67.
You will report to John Simard, CEO of XBiotech, and the effective date of the agreement will be May 2nd, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Your job responsibilities may include but
not limited to:</P>

<OL START="1" STYLE="margin-top: 0in; list-style-type: decimal; font-family: Times New Roman, Times, Serif">

<LI STYLE="text-align: justify; margin: 0pt 0">Communicate, engage and interact with Board and All of XBiotech Team.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Create presentations, press releases and other communication materials for earnings
releases, industry events and presentations to analysts, brokers, and investors.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Oversee the production of all annual reports, SEC filings, and proxy statements.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Serve as a key point of contact for the investment community.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Establish and maintain relationships with stock exchange representatives.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Organize and conduct conferences, road shows, earnings conference calls, and investor
meetings.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Play key role in building and managing commercialization team for imminent product
launch in Europe and subsequent launches in Europe the USA and elsewhere.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Building and representing credible revenue models for the company product candidates.</LI>

<LI STYLE="text-align: justify; margin: 0pt 0">Contribute to strategic business transactions and corporate development initiatives.</LI>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes of relocation you will
be provided by XBiotech with $1,500 house hunting trip to Austin, and up to $10,000 moving allowance. These expenses will be paid
as expense reimbursements or directly to the vendors you use. The offer described above is contingent upon the results of your
reference/background check and completion of an I-9 form as well as e-verify. Your employment is also contingent upon your signing
and returning a Confidentiality and Non-disclosure Agreement on your first day of work. XBiotech will provide you 100% employer-paid
Medical and Dental Plan for individuals (not including family members). These benefits will begin after a waiting period not to
exceed two months of your employment. Subject to approval by XBiotech, Inc&rsquo;s (the&nbsp;&ldquo;Company&rdquo;) Board of Directors,
you will be granted Incentive Stock Options* under the Company's 2015 Equity Incentive Plan to purchase 300,000 shares of XBiotech
Inc. Common Stock at an exercise price equal to the closing sales price per share of the Company&rsquo;s Common Stock on the date
of grant, as quoted by The Nasdaq Stock Market.&nbsp; The options will vest over a four-year period with the following schedule:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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