SEC Contract Filing

Filing Date: 2022-06-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2218496d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><I>Appendix A</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.1pt 0pt 6.9pt; text-align: center; color: #231F20"><B>2018 EQUITY INCENTIVE
PLAN, AS AMENDED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.1pt 0pt 6.9pt; text-align: center; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 3.1pt 0pt 6.85pt; text-align: center; text-indent: 0in; color: #231F20">Effective
June 14, 2022</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.8pt; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.8pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.8pt; color: #231F20"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.75pt"></TD><TD STYLE="width: 10.25pt">1.</TD><TD>DEFINITIONS.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.8pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20">Unless otherwise
specified or unless the context otherwise requires, the following terms, as used in this Cyclacel Pharmaceuticals, Inc. 2018 Equity Incentive
Plan, have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.45pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.95pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20"><U>Administrator</U>
means the Board of Directors, unless it has delegated power to act on its behalf to the Committee, in which case the Administrator means
the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.25pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.95pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20"><U>Affiliate</U>
means a corporation, which, for purposes of Section 424 of the Code, is a parent or subsidiary of the Company, direct or indirect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.95pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20"><U>Agreement</U>
means a written or electronic document setting forth the terms of a Stock Right delivered pursuant to the Plan in such form as the Administrator
shall approve.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.8pt; text-indent: 0in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.8pt; text-indent: 0in; color: #231F20"><U>Board of Directors</U>
means the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.8pt; text-indent: 0in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.8pt; text-indent: 0in; color: #231F20"><U>Cause</U> means, with
respect to a Participant (a) dishonesty with respect to the Company or any Affiliate,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.75pt 0pt 5.8pt; text-indent: 0in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.75pt 0pt 5.8pt; text-indent: 0in; color: #231F20">(b) insubordination,
substantial malfeasance or non-feasance of duty, (c) unauthorized disclosure of confidential information, (d) breach by a Participant
of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant
and the Company or any Affiliate, and (e) conduct substantially prejudicial to the business of the Company or any Affiliate; provided,
however, that any provision in an agreement between a Participant and the Company or an Affiliate, which contains a conflicting definition
of Cause for termination and which is in effect at the time of such termination, shall supersede this definition with respect to that
Participant. The determination of the Administrator as to the existence of Cause will be conclusive on the Participant and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.6pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.6pt 0pt 5.8pt; text-indent: 19.95pt; color: #231F20"><U>Change of
Control</U> means the occurrence of any of the following events: (a) any person, partnership, joint venture, corporation or other
entity, or two or more of any of the foregoing acting as a group (or any &ldquo;person&rdquo; within the meaning of Sections 13(d)
and 14(d) of the Exchange Act), other than the Company, an Affiliate, or an employee benefit plan (or related trust) of the Company
or an Affiliate, become(s) the &ldquo;beneficial owner&rdquo; (as defined in Rule 13d-3 under the Exchange Act) of 30% or more of
the then-outstanding voting stock of the Company; (b) during any period of two consecutive years, individuals who at the beginni