SEC Contract Filing

Filing Date: 2020-12-09

Document Content:
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<TYPE>EX-10.2
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<FILENAME>brhc10017772_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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 <div style="text-align: right; color: rgb(0, 0, 0); font-weight: bold;"> Exhibit 10.2<br>
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 <div style="text-align: center; color: #000000; font-weight: bold;">PDS BIOTECHNOLOGY CORPORATION</div>
 <div style="text-align: center; color: #000000; font-weight: bold;">2019 INDUCEMENT PLAN</div>
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 <div style="text-align: center; color: #000000; font-weight: bold;">Amended on December 8, 2020</div>
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 <div style="text-align: center; color: #000000;">SECTION 1. <u>GENERAL PURPOSE OF THE PLAN; DEFINITIONS</u></div>
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 <div style="text-indent: 24.5pt; color: #000000;">The name of the plan is the PDS Biotechnology Corporation 2019 Inducement Plan (the &#8220;<u>Plan</u>&#8221;). The purpose of the Plan is to provide non-qualified stock options to individuals not previously
 employees or Non-Employee Directors of PDS Biotechnology Company (the &#8220;<u>Company</u>&#8221;) (or following such individuals&#8217; bona fide period of non-employment with the Company), as an inducement material to the individuals&#8217; entry into employment with
 the Company within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules. It is anticipated that providing such persons with a direct stake in the Company&#8217;s welfare will assure a closer identification of their interests with those of the
 Company and its stockholders, thereby stimulating their efforts on the Company&#8217;s behalf and strengthening their desire to remain with the Company.</div>
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 <div style="text-indent: 24.5pt; color: #000000;">The following terms shall be defined as set forth below:</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Act&#8221;</font> means the Securities Act of 1933, as amended, and the rules and regulations thereunder.</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Administrator&#8221;</font> means either the Board or the compensation committee of the Board or a similar committee performing the functions of the compensation committee
 and which is comprised of not less than two Non-Employee Directors who are independent.</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Board&#8221;</font> means the Board of Directors of the Company.</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Change of Control&#8221;</font> means, unless otherwise provided in an Option Award Agreement:</div>
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 <div style="text-indent: 24.5pt; color: #000000;">(a) the acquisition in one or more transactions (whether by purchase, merger or otherwise) by any "Person" (as such term is used for purposes of Section 13(d) or Section 14(d) of the Exchange Act, but
 excluding, for this purpose, (i) the Company or its Subsidiaries, (ii) any employee benefit plan of the Company or its Subsidiaries, (iii) an entity owned, directly or indirectly, by the stockholders of the Company in substantially the same
 proportions as their ownership of stock of the Company) of "Beneficial Ownership" (within the meaning of Rule 13d-3 under the Exchange Act) of more than fifty percent (50%) of the combined voting power of the Company's then outstanding voting
 securities (the "Voting Securities");</div>
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 <div style="text-indent: 24.5pt; color: #000000;">(b) a change in the composition of the Board such that the individuals who as of any date constitute the Board (the "Incumbent Board") cease to constitute a majority of the Board at any time during
 the 24-month period immediately following such date; provided, however, that if the election, or nomination for election by the Company's shareholders, of any new director was approved by a vote of at least a majority of the Incumbent Board, such
 new director shall be considered as a member of the Incumbent Board, and provided further that any reductions in the size of the Board that are instituted voluntarily by the Incumbent Board shall not constitute a Change of Control, and after any
 such reduction the "Incumbent Board" shall mean the Board as so reduced;</div>
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 <div style="text-indent: 24.5pt; color: #000000;">(c) a complete liquidation or dissolution of the Company; or</div>
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 <div style="text-indent: 24.5pt; color: #000000;">(d) the sale of all or substantially all of the Company's and its Subsidiaries' assets (determined on a consolidated basis), other than to a Person terminated for &#8220;Cause&#8221; as defined in the Option
 Award Agreement.</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Code&#8221;</font> means the Internal Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.</div>
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 <div style="text-indent: 24.5pt; color: #000000;"><font style="font-style: italic;">&#8220;Effective Date&#8221;</font> means June 17, 2019.</div>
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