PDS Biotechnology Corp (Form: S-8, Received: 06/04/2019 16:07:53)

As filed with the Securities and Exchange Commission on June 4, 2019.

Registration No. 333‑

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

REGISTRATION STATEMENT

THE SECURITIES ACT OF 1933

PDS Biotechnology Corporation

(Exact name of Registrant as specified in its charter)

300 Connell Drive, Suite 4000

Berkeley Heights, NJ 07922

(State of Incorporation)

(Address of principal executive offices)

(I.R.S. Employer Identification No.)

Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan

(Full Title of the Plan)

President and Chief Executive Officer

PDS Biotechnology Corporation

300 Connell Drive, Suite 4000

Berkeley Heights, NJ 07922

(Name and address of agent for service)

(Telephone number, including area code, of agent for service)

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Securities Exchange Act of 1934, as amended. (Check one):

Large Accelerated filer ☐

Accelerated filer ☐

Non-accelerated filer ☒

Smaller reporting company ☒

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☒

CALCULATION OF REGISTRATION FEE

Title of securities to be registered ⁽¹⁾

Common Stock, Par Value $0.00033

Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (available)

(1)

The shares registered by PDS Biotechnology Corporation (the “ Registrant ”) on this Form S-8 Registration represent shares of common stock, par value $0.00033 per share (“ Common Stock ”), which are issuable under the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (formerly, the Amended and Restated Edge Therapeutics, Inc. 2014 Equity Incentive Plan) (the “ 2014 Plan ”).

(2)

Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “ Securities Act ”), this Registration Statement shall also cover any additional shares of Common Stock which become issuable under the 2014 Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the Registrant’s receipt of consideration that increases the number of the outstanding shares of the Registrant’s Common Stock.

(3)	Calculated solely for purposes of this offering under Rule 457(c) and Rule 457(h) of the Securities Act, on the basis of the average of the high and low prices per share of the Registrant’s Common Stock on May 29, 2019 as reported by the Nasdaq Capital Market.

Information Required In The Registration Statement

This Registration Statement relates to the registration of an additional 826,292 shares (the “ Shares ”) of the Registrant’s Common Stock. The Shares are securities of the same class and relate to the same employee benefit plan, the 2014 Plan, which was amended and restated effective as of March 15, 2019 (in the form attached hereto as Exhibit 99.1), as those registered pursuant to the Registrant’s registration statements on Form S-8, previously filed with the Securities and Exchange Commission on October 21, 2015 (Registration No. 333-207545), March 9, 2016 (Registration No. 333-210041), March 3, 2017 (Registration No. 333-216430), March 2, 2018 (Registration No. 333-223389), and February 22, 2019 (Registration No. 333-229817). In accordance with General Instruction E of Form S-8, the contents of the Registrant’s registration statements filed with the Securities and Exchange Commission on October 21, 2015 (Registration No. 333-207545) , March 9, 2016 (Registration No. 333-210041) , March 3, 2017 (Registration No. 333-216430) , March 2, 2018 (Registration No. 333-223389) and February 22, 2019 (Registration No. 333-229817) are incorporated herein by reference (solely to the extent the contents of such registration statements relate to the 2014 Plan) and the information required by Part II is omitted, except as supplemented by the information set forth below.

Eighth Amended and Restated Certificate of Incorporation of PDS Biotechnology Corporation (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on October 6, 2015, and incorporated by reference herein).

Certificate of Amendment to Restated Certificate of Incorporation (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on March 18, 2019, and incorporated by reference herein).

Certificate of Amendment to Restated Certificate of Incorporation (filed as Exhibit 3.2 to the Registrant’s Current Report on Form 8-K filed with the Commission on March 18, 2019, and incorporated by reference herein).

Second Amended and Restated Bylaws of PDS Biotechnology Corporation (filed as Exhibit 3.2 to the Registrant’s Current Report on Form 8-K filed with the Commission on October 6, 2015, and incorporated by reference herein).

Form of Certificate of Common Stock (filed as Exhibit 4.1 to the Registrant’s Registration Statement on Form S-1 filed with the Commission on September 21, 2015, and incorporated by reference herein).

Opinion and Consent of DLA Piper LLP (US).

Consent of KPMG LLP.

Consent of DLA Piper LLP (US) is contained in Exhibit 5.1.

Power of Attorney (contained on the signature page hereto).

Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan.

Form of PDS Biotechnology Corporation Executive Stock Option Agreement.

Form of PDS Biotechnology Corporation Employee Stock Option Agreement.

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement with respect to the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan, to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Berkeley Heights, State of New Jersey, on June 4, 2019.

PDS Biotechnology Corporation

President and Chief Executive Officer

The officers and directors of PDS Biotechnology Corporation whose signatures appear below hereby constitute and appoint Frank Bedu-Addo and Andrew Saik, and each of them, their true and lawful attorneys and agents, with full power of substitution, each with power to act alone, to sign and execute on behalf of the undersigned this Registration Statement on Form S-8 with respect to the Amended and Restated PDS Biotechnology 2014 Equity Incentive Plan, and any amendment or amendments thereto, and each of the undersigned does hereby ratify and confirm all that each attorney and agent, or his or her substitutes, shall do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the date indicated.

President, Chief Executive Officer and Director

(Principal Executive Officer)

Chief Financial Officer and Director

(Principal Financial and Accounting Officer)

/s/ Sir Richard Sykes

/s/ De Lyle W. Bloomquist

De Lyle W. Bloomquist

Exhibit 5.1

	DLA Piper LLP (US)
	51 John F. Kennedy Parkway, Suite 120
	Short Hills, New Jersey 07078
	www.dlapiper.com

	T: 973-520-2550
	F: 973-520-2551

	Attorneys Responsible for Short Hills Office:

	Andrew P. Gilbert
	Michael E. Helmer

June 4, 2019

PDS Biotechnology Corporation

300 Connell Drive, Suite 4000

Berkeley Heights, NJ 07922

PDS Biotechnology Corporation – Registration Statement on S-8

Ladies and Gentlemen:

Dear Ladies and Gentlemen:

We have acted as counsel to PDS Biotechnology Corporation, a Delaware corporation (the “Company”), in connection with the preparation of a Registration Statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Act”). The Registration Statement relates to the registration of 826,292 shares (the “Plan Shares”) of the Company’s common stock, par value $0.00033 per share, issuable under the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (the “2014 Plan”), as referenced in the Registration Statement.

In connection with this opinion letter, we have examined the Registration Statement and originals, or copies certified or otherwise identified to our satisfaction, of the Eight Amended and Restated Certificate of Incorporation, as amended and the Second Amended and Restated Bylaws of the Company and such other documents, records and other instruments as we have deemed appropriate for purposes of the opinion set forth herein.

We have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of the documents submitted to us as originals, the conformity with the originals of all documents submitted to us as certified, facsimile or photostatic copies and the authenticity of the originals of all documents submitted to us as copies.

Based upon the foregoing, we are of the opinion that the Plan Shares have been duly authorized and, when and to the extent issued in accordance with the terms of the 2014 Plan and any award agreement entered into under the 2014 Plan, the Plan Shares will be validly issued, fully paid and nonassessable.

The opinion expressed herein is limited to the Delaware General Corporation Law.

We hereby consent to the use of this opinion as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not hereby admit that we are acting within the category of persons whose consent is required under Section 7 of the Act or the rules or regulations of the U.S. Securities and Exchange Commission thereunder.

Very truly yours,

/s/ DLA Piper LLP (US)

Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

The Board of Directors

PDS Biotechnology Corporation (formerly Edge Therapeutics, Inc.):

We consent to the use of our report dated February 21, 2019, with respect to the balance sheets of Edge Therapeutics, Inc. as of December 31, 2018 and 2017, and the related statements of operations and comprehensive loss, change in stockholders’ equity (deficit), and cash flows for each of the years in the two year period ended December 31, 2018, and the related notes (collectively, the “financial statements”) incorporated herein by reference.

/s/ KPMG LLP

Short Hills, New Jersey

June 4, 2019

Exhibit 99.1

AMENDED AND RESTATED

PDS BIOTECHNOLOGY CORPORATION

2014 EQUITY INCENTIVE PLAN

Adopted by the Board of Directors January 17, 2019

AMENDED AND RESTATED PDS BIOTECHNOLOGY CORPORATION

2014 EQUITY INCENTIVE PLAN

Section 1. Purpose of the Plan . The purpose of the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (formerly known as the Amended and Restated Edge Therapeutics, Inc. 2014 Equity Incentive Plan) (the “ Plan ” ) is to assist the Company and its Subsidiaries in attracting and retaining valued Employees, Consultants and Non-Employee Directors by offering them a greater stake in the Company ’ s success and a closer identity with it, and to encourage ownership of the Company ’ s stock by such Employees, Consultants and Non-Employee Directors.

Section 2. Definitions . As used herein, the following definitions shall apply:

2.1. “ 2014 Plan ” means The Edge Therapeutics, Inc. 2014 Equity Incentive Plan, as in effect immediately prior to the Merger.

2.2. “ Award ” means the grant of Restricted Stock, Options, SARs, Restricted Stock Units or Other Awards under the Plan.

2.3. “ Award Agreement ” means the written agreement, instrument or document evidencing an Award.

2.4. “ Board ” means the Board of Directors of the Company.

2.5. “ Cause ” means,

(a) if the applicable Participant is party to an effective employment, consulting, severance or similar agreement with the Company or a Subsidiary, and such term is defined therein, “ Cause ” shall have the meaning provided in such agreement;

(b) if the applicable Participant is not a party to an effective employment, consulting, severance or similar agreement or if no definition of “ Cause ” is set forth in the applicable employment, consulting, severance or similar agreement, “ Cause ” shall have the meaning provided in the applicable Award Agreement;

(c) if neither (a) nor (b) applies, then “ Cause ” shall mean, as determined by the Committee in its sole discretion, (i) the Participant ’ s willful misconduct or gross negligence in connection with the performance of the Participant ’ s duties for the Company or its Subsidiaries; (ii) the Participant ’ s conviction of, or a plea of guilty or nolo contendere to, a felony or a crime involving fraud or moral turpitude; (iii) the Participant ’ s engaging in any business that directly or indirectly competes with the Company or its Subsidiaries; or (iv) disclosure of trade secrets, customer lists or any other confidential information of the Company or its Subsidiaries to a competitor or an unauthorized person.

2.6. “ Change in Control ” means, unless otherwise provided in an Award Agreement:

(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 ” );

(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 in Control, and after any such reduction the “ Incumbent Board ” shall mean the Board as so reduced;

(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 described in clauses (i), (ii) or (iii) of Section 2.5(a) above.

2.7. “ Code ” means the Internal Revenue Code of 1986, as amended.

2.8. “ Common Stock ” means the common stock of the Company, par value $0.00033 per share.

2.9. “ Company ” means PDS Biotechnology Corporation, a Delaware corporation, or any successor corporation.

2.10. “ Committee ” means the Compensation Committee of the Board, provided that the Committee shall at all times have at least two members, each of whom shall be a “ non-employee director ” as defined in Rule 16b-3 under the Exchange Act and an “ independent director ” under the rules of any applicable stock exchange.

2.11. “ Consultant ” means a natural person who provides bona fide services to the Company or its Subsidiaries other than in connection with the offer or sale of securities in a capital-raising transaction and is not engaged in activities that directly or indirectly promote or maintain a market for the Company ’ s securities.

2.12. “ Disability ” means, unless otherwise provided in an Award Agreement, that the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.

2.13. “ Effective Date” means the date of the Merger.

2.14. “ Employee ” means an officer or other employee of the Company or a Subsidiary, including a director who is such an employee.

2.15. “ Exchange Act ” means the Securities Exchange Act of 1934, as amended.

2.16. “ Fair Market Value ” means, on any given date (i) if the shares of Common Stock are then listed on a national securities exchange, including the Nasdaq Global Select Market ( “ NASDAQ ” ), the closing sales price per share of Common Stock on the exchange for such date, or if no sale was made on such date on the exchange, on the last preceding day on which a sale occurred; (ii) if shares of Common Stock are not then listed on a national securities exchange but are then quoted on another stock quotation system, the closing price for the shares of Common Stock as quoted on such quotation system on such date, or if no sale was made on such date on such quotation system, on the last preceding day on which a sale was made; or (iii) if (i) and (ii) do not apply, such value as the Committee in its discretion may in good faith determine in accordance with Section 409A of the Code and the regulations thereunder (and, with respect to Incentive Stock Options, in accordance with Section 422 of the Code and the regulations thereunder).

2.17. “ Incentive Stock Option ” means an Option or portion thereof intended to meet the requirements of an incentive stock option as defined in Section 422 of the Code and designated as an Incentive Stock Option.

2.18. “ Merger ” means the consummation of the transactions contemplated by that certain Agreement and Plan of Merger, dated November 23, 2018, among Edge Therapeutics, Inc., Echos Merger Sub, Inc. and the Company.

2.19. “ Non-Employee Director ” means a member of the Board or the board of directors or board of managers of a Subsidiary, in either case, who is not an Employee.

2.20. “ Non-Qualified Option ” means an Option or portion thereof not intended to be, or that does not satisfy all requirements to be, an Incentive Stock Option.

2.21. “ Option ” means a right granted under Section 6.1 of the Plan to purchase a specified number of shares of Common Stock at a specified price. An Option may be an Incentive Stock Option or a Non-Qualified Option; provided, however, that unless otherwise explicitly stated in an Award Agreement, each Option shall be a Non-Qualified Option.

2.22. “ Participant ” means any Employee, Non-Employee Director or Consultant who receives an Award.

2.23. “ Performance Goal ” means any goal established by the Committee, in its sole discretion , the attainment of which is substantially uncertain at the time such goal is established. Performance Goals may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual Participant or the Subsidiary, division, department or function within the Company or Subsidiary in which the Participant is employed. Performance Goals may be measured on an absolute or relative basis. Relative performance may be measured by a group of peer companies or by a financial market index. Performance Goals may, without limitation, be based on the following: specified levels of or increases in return on capital, equity or assets; earnings measures/ratios (on a gross, net, pre-tax or post-tax basis), including diluted earnings per share, total earnings, operating earnings, earnings growth, earnings before interest and taxes (EBIT) and earnings before interest, taxes, depreciation and amortization (EBITDA); net economic profit (which is operating earnings minus a charge to capital); net income; operating income; sales; sales growth; gross margin; direct margin; share price (including but not limited to growth measures and total shareholder return); operating profit; per period or cumulative cash flow (including but not limited to operating cash flow and free cash flow) or cash flow return on investment (which equals net cash flow divided by total capital); inventory turns; financial return ratios; market share; balance sheet measurements such as receivable turnover; improvement in or attainment of expense levels; improvement in or attainment of working capital levels; debt reduction; strategic innovation, including but not limited to entering into, substantially completing, or receiving payments under, relating to, or deriving from a joint development agreement, licensing agreement, or similar agreement; customer or employee satisfaction; individual objectives; operating efficiency; regulatory body approvals for commercialization of products; implementation or completion of critical projects or related milestones (including, without limitation, milestones such as clinical trial enrollment targets, commencement of phases of clinical trials and completion of phases of clinical trials); partnering or similar transactions; any combination of any of the foregoing criteria; or any other metric as determined by the Committee.

2.24. “ Performance Period ” means the period selected by the Committee during which the performance of the Company, any Subsidiary, any department of the Company or any Subsidiary, or any individual is measured for the purpose of determining the extent to which a Performance Goal has been achieved.

2.25. “ Restricted Stock ” means Common Stock awarded by the Committee under Section 6.3 of the Plan.

2.26. “ Restricted Stock Unit ” means the right granted under Section 6.4 of the Plan to receive, on the date of settlement, an amount equal to the Fair Market Value of one share of Common Stock. An Award of Restricted Stock Units may be settled in cash, shares of Common Stock or any combination of the foregoing.

2.27. “ Restriction Period ” means the period during which Restricted Stock and Restricted Stock Units are subject to forfeiture.

2.28. “ SAR ” means a stock appreciation right awarded by the Committee under Section 6.2 of the Plan.

2.29. “ Securities Act ” means the Securities Act of 1933, as amended.

2.30. “ Subsidiary ” means any corporation, partnership, joint venture or other business entity of which 50% or more of the outstanding voting power is beneficially owned, directly or indirectly, by the Company.

2.31. “ Ten Percent Shareholder ” means a person who on any given date owns, either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or a Subsidiary.

Section 3. Eligibility . Any Employee, Non-Employee Director or Consultant shall be eligible to be selected to receive an Award under the Plan; provided, however, that only persons who are Employees may be granted Options which are intended to qualify as Incentive Stock Options.

Section 4. Administration and Implementation of the Plan .

4.1. The Plan and all Award Agreements shall be administered by the Committee. Any action of the Committee in administering the Plan and an Award Agreement shall be final, conclusive and binding on all persons, including the Company, its Subsidiaries, Participants, persons claiming rights from or through Participants and shareholders of the Company. No member of the Committee (or any person to whom the Committee has delegated authority to act under the Plan) shall be personally liable for any action, determination, or interpretation taken or made in good faith by the Committee (or such person) with respect to the Plan or any Awards granted hereunder, and all members of the Committee (and such persons) shall be fully indemnified and protected by the Company in respect of any such action, determination or interpretation to the fullest extent permitted by law.

4.2. Subject to the provisions of the Plan, the Committee shall have full and final authority in its discretion to (i) select the Employees, Non-Employee Directors and Consultants who will receive Awards pursuant to the Plan; (ii) determine the type or types of Awards to be granted to each Participant; (iii) determine the number of shares of Common Stock to which an Award will relate, the terms and conditions of any Award granted under the Plan (including, but not limited to, restrictions as to vesting, transferability or forfeiture, exercisability or settlement of an Award and waivers or accelerations thereof, and waivers of or modifications to Performance Goals relating to an Award, based in each case on such considerations as the Committee shall determine) and all other matters to be determined in connection with an Award; (iv) determine the exercise price or purchase price (if any) of an Award; (v) determine whether, to what extent, and under what circumstances an Award may be cancelled, forfeited, or surrendered; (vi) determine whether, and to certify that, Performance Goals to which an Award is subject are satisfied; (vii) correct any defect or supply any omission or reconcile any inconsistency in the Plan, and adopt, amend and rescind such rules, regulations, guidelines, forms of agreements and instruments relating to the Plan as it may deem necessary or advisable; (viii) construe and interpret the Plan; and (ix) make all other determinations as it may deem necessary or advisable for the administration of the Plan; provided, however, that the Committee shall be prohibited from effecting a repricing of any outstanding Award without shareholder approval.

4.3. To the extent permitted by applicable law, the Committee may delegate some or all of its authority with respect to the Plan and Awards to any executive officer of the Company or any other person or persons designated by the Committee, in each case, acting individually or as a committee, provided that the Committee may not delegate its authority hereunder to any person to make Awards to (a) Employees who are (i) “ officers ” as defined in Rule 16a-1(f) under the Exchange Act or (ii) officers or other Employees who are delegated authority by the Committee pursuant to this Section or (b) members of the Board. Any delegation hereunder shall be subject to the restrictions and limits that the Committee specifies at the time of such delegation or thereafter. The Committee may at any time rescind the authority delegated to any person pursuant to this Section. Any action undertaken by any such person or persons in accordance with the Committee ’ s delegation of authority pursuant to this Section shall have the same force and effect as if undertaken directly by the Committee.

Section 5. Shares of Common Stock Subject to the Plan .

5.1. Share Pool . Subject to adjustment as provided in this Section 5 and in Section 8 hereof, the total number of shares of Common Stock available for Awards under the Plan as of the Effective Date shall be the sum of (x) [___] ¹ plus (y) the total number of shares of Common Stock that remain available for issuance, and are not covered by outstanding awards issued, under the 2014 Plan immediately prior to the closing of the Merger (clauses (x) and (y), collectively, the “ Plan Limit ” ).

5.2. Adjustments to Plan Limit . On and after the Effective Date, the Plan Limit shall be adjusted, in addition to any adjustments to be made pursuant to Section 8 of the Plan, as follows:

(i) The Plan Limit as of such date shall be reduced, on the date of grant, by one share for each share of Common Stock made subject to an Award granted under the Plan;

(ii) The Plan Limit shall be increased by the number of shares underlying an Award or portion thereof granted under this Plan or an award or portion thereof granted under the 2014 Plan, the Edge Therapeutics, Inc. 2010 Equity Incentive Plan (the “ 2010 Plan ” ) or the Edge Therapeutics, Inc. 2012 Equity Incentive Plan (the “ 2012 Plan ” ), in any case, that on or after the Effective Date is forfeited, cancelled or otherwise terminates, expires or is settled for any reason whatsoever without an actual distribution of shares; and

¹ Number of shares to be equal to 9.5% multiplied by the total number of shares of the Company’s common stock outstanding immediately following the closing of the Merger.

(iii) The Plan Limit shall be increased, on the forfeiture date, by the number of shares of Common Stock that are forfeited back to the Company after issuance due to a failure to meet a contingency or condition with respect to any Award or portion thereof granted under this Plan, any award or portion thereof granted under the 2010 Plan, any award or portion thereof granted under the 2012 Plan or any award or portion thereof granted under the 2014 Plan.

For the avoidance of doubt, any shares tendered by a Participant in payment of an exercise price for an Award (or an award granted under the 2014 Plan, the 2012 Plan or the 2010 Plan) or the tax liability with respect to an Award (or an award granted under the 2014 Plan, the 2012 Plan or the 2010 Plan), including shares withheld from any such Award or award, shall not be available for future Awards hereunder. Common Stock awarded under the Plan may be reserved or made available from the Company ’ s authorized and unissued Common Stock or from Common Stock reacquired and held in the Company ’ s treasury. Any shares of Common Stock issued by the Company through the assumption or substitution of outstanding grants from an acquired company shall not reduce the shares of Common Stock available for Awards under the Plan.

5.3. ISO Limit . Up to 11,000,000 shares (the “ ISO Limit ” ) available for Awards under the Plan may be issued pursuant to Incentive Stock Options.

5.4. Director Limit . In addition, the Committee may establish compensation for Non-Employee Directors from time to time, subject to the limitations in the Plan. The Committee will from time to time determine the terms, conditions and amounts of all such Non-Employee Director compensation in its discretion and pursuant to the exercise of its business judgment, taking into account such factors, circumstances and considerations as it shall deem relevant from time to time, provided that the sum of any cash compensation and the grant date fair value of Awards (as determined in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) granted under the Plan to a Non-Employee Director as compensation for services as a Non-Employee Director during any calendar year of the Company may not exceed $500,000 for an annual grant, provided however, in a Non-Employee Director ’ s first year of service, compensation for services may not exceed $1,000,000 (such limits, the “ Director Limits ” ). The Committee may make exceptions to the Director Limit for individual Non-Employee Directors in extraordinary circumstances, as the Committee may determine in its discretion, provided that the Non-Employee Director receiving such additional compensation may not participate in the decision to award such compensation or in other compensation decisions involving such Non-Employee Director.

Section 6. Awards . Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee may impose on any Award or the settlement or exercise thereof, at the date of grant or thereafter, such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including without limitation terms requiring forfeiture of Awards in the event of the termination of employment or other relationship with the Company or any Subsidiary by the Participant; provided, however, that the Committee shall retain full power to accelerate or waive any such additional term or condition as it may have previously imposed (provided that, in any case, any such action is permitted under Code Section 409A). The right of a Participant to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such Performance Goals as may be determined by the Committee. Each Award, and the terms and conditions applicable thereto, shall be evidenced by an Award Agreement.

6.1. Options . Options give a Participant the right to purchase a specified number of shares of Common Stock from the Company for a specified time period at a fixed exercise price, as provided in the applicable Award Agreement. Options may be either Incentive Stock Options or Non-Qualified Options; provided that Incentive Stock Options may not be granted to Non-Employee Directors or Consultants. The grant of Options shall be subject to the following terms and conditions:

(a) Exercise Price . The price per share at which Common Stock may be purchased upon exercise of an Option shall be determined by the Committee and specified in the Award Agreement, but shall be not less than the Fair Market Value of a share of Common Stock on the date of grant (or 110% of the Fair Market Value of a share of Common Stock on the date of grant in the case of an Incentive Stock Option granted to a Ten Percent Shareholder).

(b) Term of Options. The term of an Option shall be specified in the Award Agreement, but shall in no event be greater than ten years from the grant date (or five years from the grant date in the case of an Incentive Stock Option granted to a Ten Percent Shareholder).

(c) Exercise of Option. Each Award Agreement with respect to an Option shall specify the time or times at which an Option may be exercised in whole or in part and the terms and conditions applicable thereto, including (i) a vesting schedule which may be based upon the passage of time, attainment of Performance Goals or a combination thereof, (ii) whether the exercise price for an Option shall be paid in cash, with shares of Common Stock, with any combination of cash and shares of Common Stock, or with other legal consideration that the Committee may deem appropriate, (iii) the methods of payment, which may include payment through cashless and net exercise arrangements, to the extent permitted by applicable law and (iv) the methods by which, or the time or times at which, Common Stock will be delivered or deemed to be delivered to Participants upon the exercise of such Option. Payment of the exercise price shall in all events be made within three days after the date of exercise of an Option. With respect to any Participant who is subject to Section 16 of the Exchange Act, such Participant may direct the Company to reduce the number of Shares that would otherwise be deliverable upon the exercise of his or her Option having a Fair Market Value on the date of exercise equal to the exercise price of the portion of the Option then being exercised.

(d) Termination of Employment or Other Service . Unless otherwise provided in an Award Agreement, upon a Participant ’ s termination of employment or other service with the Company and its Subsidiaries, the unvested portion of such Participant ’ s Options shall cease to vest and shall be forfeited and the vested portion of such Participant ’ s Options shall remain exercisable by the Participant or the Participant ’ s beneficiary or legal representative, as the case may be, for a period of (i) 30 days in the event of a termination by the Company or a Subsidiary without Cause, (ii) 180 days in the event of a termination due to death or Disability and (iii) 30 days in the event of the Participant ’ s voluntary termination; provided, however, that in no event shall any Option be exercisable after its stated term has expired. All of a Participant ’ s Options, whether or not vested, shall be forfeited immediately upon such Participant ’ s termination by the Company or a Subsidiary for Cause.

(e) Incentive Stock Options . Each Participant awarded an Incentive Stock Option under the Plan shall notify the Company in writing immediately after the date he or she makes a “ disqualifying disposition ” (as defined in Section 421(b) of the Code) of any shares of Common Stock acquired pursuant to the exercise of such Incentive Stock Option. The Company may, if determined by the Committee and in accordance with procedures established by it, retain possession of any shares acquired pursuant to the exercise of an Incentive Stock Option as agent for the applicable Participant until the end of any period during which a disqualifying disposition could occur, subject to complying with any instructions from such Participant as to the sale of such shares. The aggregate Fair Market Value, determined as of the date of grant, for Awards granted under the Plan (or any other stock option plan required to be taken into account under Section 422(d) of the Code) that are intended to be Incentive Stock Options which are first exercisable by the Participant during any calendar year shall not exceed $100,000. To the extent an Award purporting to be an Incentive Stock Option exceeds the limitation in the previous sentence, the portion of the Award in excess of such limit shall be a Non-Qualified Option.

6.2. Stock Appreciation Rights . An SAR shall confer on the Participant a right to receive, upon exercise thereof, the excess of (i) the Fair Market Value of one share of Common Stock on the date of exercise over (ii) the grant price of the SAR as determined by the Committee, but which may never be less than the Fair Market Value of one share of Common Stock on the date of grant. The grant of SARs shall be subject to the following terms and conditions:

(a) General . Each Award Agreement with respect to an SAR shall specify the number of SARs granted, the grant price of the SAR, the time or times at which an SAR may be exercised in whole or in part (including vesting upon the passage of time, the attainment of Performance Goals, or a combination thereof), the method of exercise, method of settlement (in cash, Common Stock or a combination thereof), method by which Common Stock will be delivered or deemed to be delivered to Participants (if applicable) and any other terms and conditions of any SAR.

(b) Termination of Employment or Other Service . Unless otherwise provided in an Award Agreement, upon a Participant ’ s termination of employment or other service with the Company and its Subsidiaries, the unvested portion of such Participant ’ s SARs shall cease to vest and shall be forfeited and the vested portion of such Participant ’ s SARs shall remain exercisable by the Participant or the Participant ’ s beneficiary or legal representative, as the case may be, for a period of (i) 30 days in the event of a termination by the Company or a Subsidiary without Cause, (ii) 180 days in the event of a termination due to death or Disability and (iii) 30 days in the event of the Participant ’ s voluntary termination; provided, however, that in no event shall any SAR be exercisable after its stated term has expired. All of a Participant ’ s SARs, whether or not vested, shall be forfeited immediately upon such Participant ’ s termination by the Company or a Subsidiary for Cause.

(c) Term . The term of an SAR shall be specified in the Award Agreement, but shall in no event be greater than ten years.

6.3. Restricted Stock . An Award of Restricted Stock is a grant by the Company of a specified number of shares of Common Stock to the Participant, which shares are subject to forfeiture upon the happening of specified events during the Restriction Period. Such an Award shall be subject to the following terms and conditions:

(a) General . Each Award Agreement with respect to Restricted Stock shall specify the duration of the Restriction Period and/or each installment thereof, the conditions under which the Restricted Stock may be forfeited to the Company, and the amount, if any, the Participant must pay to receive the Restricted Stock. Such restrictions may include a vesting schedule based upon the passage of time, the attainment of Performance Goals or a combination thereof.

(b) Transferability . During the Restriction Period, the transferability of Restricted Stock shall be prohibited or restricted in the manner and to the extent prescribed in the applicable Award Agreement. Such restrictions may include, without limitation, rights of repurchase or first refusal in the Company or provisions subjecting the Restricted Stock to a continuing substantial risk of forfeiture in the hands of any transferee.

(c) Shareholder Rights . Unless otherwise provided in the applicable Award Agreement, during the Restriction Period the Participant shall have all the rights of a shareholder with respect to Restricted Stock, including, without limitation, the right to receive dividends thereon (whether in cash or shares of Common Stock) and to vote such shares of Restricted Stock; provided, however, that dividends shall be subject to the same restrictions as the underlying Restricted Stock (unless otherwise provided by the Committee in the Award Agreement) and cash dividends shall be held by the Company in its general assets and released to the Participant only upon the vesting of the underlying Restricted Stock (unless otherwise provided by the Committee in the Award Agreement).

(d) Termination of Employment or Other Service . Unless otherwise provided in the applicable Award Agreement, upon a Participant ’ s termination of employment or other service with the Company and its Subsidiaries for any reason, the unvested portion of each Award of Restricted Stock held by such Participant shall be forfeited with no compensation due the Participant.

(e) Additional Matters . Upon the Award of Restricted Stock, the Committee may direct the number of shares of Common Stock subject to such Award be issued to the Participant or placed in a restricted stock account (including an electronic account) with the transfer agent and in either case designating the Participant as the registered owner. The certificate(s), if any, representing such shares shall be physically or electronically legended, as applicable, as to sale, transfer, assignment, pledge or other encumbrances during the Restriction Period and, if issued to the Participant, returned to the Company to be held in escrow during the Restriction Period. In all cases, the Participant shall sign a stock power endorsed in blank to the Company to be held in escrow during the Restriction Period.

6.4. Restricted Stock Units . Restricted Stock Units are solely a device for the measurement and determination of the amounts to be paid to a Participant under the Plan. Restricted Stock Units do not constitute Common Stock and shall not be treated as (or as giving rise to) property or as a trust fund of any kind; provided, however, that the Company may establish a bookkeeping reserve to meet its obligations hereunder or a trust or other funding vehicle that would not cause the Plan to be deemed to be funded for tax purposes or for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended. The right of any Participant in respect of an Award of Restricted Stock Units shall be no greater than the right of any unsecured general creditor of the Company. The grant of Restricted Stock Units shall be subject to the following terms and conditions:

(a) Restriction Period . Each Award Agreement with respect to Restricted Stock Units shall specify the duration of the Restriction Period, if any, and/or each installment thereof and the conditions under which such Award may be forfeited to the Company. Such restrictions may include a vesting schedule based upon the passage of time, the attainment of Performance Goals or a combination thereof.

(b) Termination of Employment or Other Service. Unless otherwise provided in the applicable Award Agreement, upon a Participant ’ s termination of employment or other service with the Company and its Subsidiaries for any reason, the unvested portion of each Award of Restricted Stock Units credited to such Participant shall be forfeited with no compensation due the Participant.

(c) Settlement . Unless otherwise provided in an Award Agreement (i) an Award of Restricted Stock Units shall be settled in shares of Common Stock, provided that any fractional Restricted Stock Units shall be settled in cash and (ii) subject to the Participant ’ s continued employment or other service with the Company or a Subsidiary from the date of grant through the expiration of the Restriction Period (or applicable portion thereof), the vested portion of an Award of Restricted Stock Units shall be settled within 30 days after the expiration of the Restriction Period (or applicable portion thereof).

(d) Shareholder Rights . Nothing contained in the Plan shall be construed to give any Participant rights as a shareholder with respect to an Award of Restricted Stock Units (including, without limitation, any voting, dividend or derivative or other similar rights). Notwithstanding the foregoing, the Committee may provide in an Award Agreement that amounts equal to any dividends declared during the Restriction Period on the shares of Common Stock represented by an Award of Restricted Stock Units will be credited to the Participant ’ s account and deemed to be reinvested in additional Restricted Stock Units, such additional Restricted Stock Units to be subject to the same forfeiture restrictions and settlement date as the Restricted Stock Units to which they relate.

6.5. Other Stock-Based Awards . The Committee is authorized, subject to limitations under applicable law, to grant to Participants any type of Award (in addition to those Awards provided in Sections 6.1, 6.2, 6.3 or 6.4 hereof) that is payable in, or valued in whole or in part by reference to, shares of Common Stock, and that is deemed by the Committee to be consistent with the purposes of the Plan, including, without limitation, dividend equivalents, performance shares and performance units ( “ Other Awards ” ).

Section 7. Change in Control .

7.1. General . Notwithstanding any provision in the Plan to the contrary, upon the occurrence of a Change in Control, the Committee, in its discretion, may accelerate the vesting and, if applicable, exercisability of all outstanding Awards such that all outstanding Awards are fully vested and, if applicable, exercisable (effective immediately prior to such Change in Control) and may determine whether all applicable Performance Goals have been achieved and the applicable level of performance.

7.2. Options and SARs . Notwithstanding any provision in the Plan to the contrary, upon the occurrence of a Change in Control, the Committee, in its discretion, may take one or more of the following actions with respect to Options and SARs that are outstanding as of such Change in Control: (a) cancel any outstanding Options or SARs in exchange for a cash payment in an amount equal to the excess, if any, of the Fair Market Value of the Common Stock underlying the unexercised portion of the Option or SAR as of the date of the Change in Control over the exercise price or grant price, as the case may be, of such portion, provided that any Option or SAR with an exercise price or grant price, as the case may be, that equals or exceeds the Fair Market Value of the Common Stock on the date of such Change in Control shall be cancelled with no payment due the Participant; (b) terminate any Option or SAR, effectively immediately prior to the Change in Control, provided that the Company provides the Participant an opportunity to exercise such Award within a specified period following the Participant ’ s receipt of a written notice of such Change in Control and the Company ’ s intention to terminate such Awards, effective immediately prior to such Change in Control; (c) terminate any Options or SARs, the Performance Goals of which have not been satisfied as of the Change in Control, (d) require the successor or acquiring company (or its parents or subsidiaries), following a Change in Control, to assume any outstanding Option or SAR and to substitute such Option or SAR with awards involving the common equity securities of such company on terms and conditions necessary to preserve the rights of Participants with respect to such Options or SARs or (e) take such other actions as the Committee believes may be appropriate.

7.3. Restricted Stock, Restricted Stock Units and Other Awards . With respect to Restricted Stock, Restricted Stock Units or Other Awards, the Committee generally may (a) provide in an Award that, upon the occurrence of a Change in Control, any vested Restricted Stock, Restricted Stock Units and Other Awards shall become immediately vested and/or payable, provided that if such Awards constitute “ non-qualified deferred compensation ” (within the meaning of Code Section 409A) such Change in Control satisfies the requirements of Treasury Regulation Section 1.409A-3(i)(5)(v), (vi) or (vii); (b) with respect to any Restricted Stock, Restricted Stock Units or Other Awards that do not constitute “ non-qualified deferred compensation, ” elect to settle such Restricted Stock, Restricted Stock Units and Other Awards upon a Change in Control, (c) terminate any Restricted Stock, Restricted Stock Units or Other Awards if the applicable Performance Goals were not satisfied as of the Change in Control, (d) require the successor or acquiring company (or its parents or subsidiaries), following a Change in Control, to assume such Restricted Stock, Restricted Stock Units and Other Awards or to substitute such Awards with awards involving the equity securities of the acquiring or successor company on terms and conditions so as to preserve the rights of participants, or (e) to the extent permitted by Code Section 409A, take such other actions as the Committee believes may be appropriate (including terminating such Awards for a cash payment equal to the fair market value of the underlying shares).

The judgment of the Committee with respect to any matter referred to in this Section 7 shall be conclusive and binding upon each Participant without the need for any amendment to the Plan.

Section 8. Adjustments upon Changes in Capitalization .

8.1. In order to prevent dilution or enlargement of the rights of Participants under the Plan as a result of any stock dividend, recapitalization, forward stock split or reverse stock split, reorganization, division, merger, consolidation, spin-off, combination, repurchase or share exchange, extraordinary or unusual cash distribution or other similar corporate transaction or event that affects the Common Stock, the Committee shall adjust (i) the number and kind of shares of Common Stock which may thereafter be issued in connection with Awards, (ii) the number and kind of shares of Common Stock issuable in respect of outstanding Awards, (iii) the aggregate number and kind of shares of Common Stock available under the Plan (including any of the specific limitations under Section 5 hereof), and (iv) the exercise or grant price relating to any Award. Any such adjustment shall be made in an equitable manner which reflects the effect of such transaction or event. It is provided, however, that in the case of any such transaction or event, the Committee may, in lieu of making adjustments to the items in (i) through (iv) above, make a cash payment with respect to any outstanding Award; provided, further, that no adjustment shall be made under this Section 8.1 that would cause the Plan to violate Section 422 of the Code with respect to Incentive Stock Options, that would cause any Award or the Plan to fail to be exempt from and fail to comply with Section 409A of the Code, or that would adversely affect the status of any Award that is “ performance-based compensation ” under Section 162(m) of the Code.

8.2. In addition, the Committee is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards, including any Performance Goals, in recognition of unusual or nonrecurring events (including, without limitation, events described in Section 8.1) affecting the Company or any Subsidiary, or in response to changes in applicable laws, regulations, or accounting principles. Notwithstanding the foregoing, all adjustments shall be made in accordance with Section 409A of the Code and the regulations thereunder to the extent applicable.

Section 9. Termination and Amendment .

9.1. Changes to the Plan and Awards . The Board may amend, alter, suspend, discontinue, or terminate the Plan without the consent of the Company ’ s shareholders or Participants, except that any such amendment, alteration, suspension, discontinuation, or termination shall be subject to the approval of the Company ’ s shareholders if (i) such action would increase the number of shares subject to the Plan, (ii) such action would decrease the price at which Awards may be granted, or (iii) such shareholder approval is required by any applicable federal, state or foreign law or regulation or the rules of any stock exchange or automated quotation system on which the Common Stock may then be listed or quoted, and the Board may otherwise, in its discretion, determine to submit such other changes to the Plan to the Company ’ s shareholders for approval; provided, however, that except as provided in Section 18, without the consent of an affected Participant, no amendment, alteration, suspension, discontinuation, or termination of the Plan may materially and adversely affect the rights of such Participant under any outstanding Award unless such modification is necessary to avoid the additional tax described in Section 409A of the Code.

9.2. The Committee may waive any conditions or rights under, or amend, alter, suspend, discontinue, or terminate, any Award theretofore granted and any Award Agreement relating thereto; provided, however, that except as provided in Section 18, without the consent of an affected Participant, no such amendment, alteration, suspension, discontinuation, or termination of any Award may materially and adversely affect the rights of such Participant under such Award unless such modification is necessary to avoid the additional tax described in Section 409A of the Code.

9.3. Notwithstanding anything in this Section 9 to the contrary, any Performance Goal applicable to an Award shall not be deemed a fixed contractual term, but shall remain subject to adjustment by the Committee, in its discretion at any time in view of the Committee ’ s assessment of the Company ’ s strategy, performance of comparable companies, and other circumstances.

9.4. Notwithstanding anything in the Plan or an Award Agreement to the contrary, no Award may be repriced, replaced or regranted through cancellation or bought out for cash or other consideration without the approval of the shareholders of the Company, provided that nothing herein shall prevent the Committee from taking any action provided for in Section 8.

Section 10. No Right to Award, Employment or Service . No Participant shall have any claim to be granted any Award under the Plan, and there is no obligation that the terms of Awards be uniform or consistent among Participants. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ or service of the Company or any Subsidiary. For purposes of this Plan, a transfer of employment or service between the Company and its Subsidiaries shall not be deemed a termination of employment or service; provided, however, that individuals employed by, or otherwise providing services to, an entity that ceases to be a Subsidiary shall be deemed to have incurred a termination of employment or service, as the case may be, as of the date such entity ceases to be a Subsidiary unless such individual becomes an employee of, or service provider to, the Company or another Subsidiary as of the date of such cessation.

Section 11. Taxes . Each Participant must make appropriate arrangement for the payment of any taxes relating to an Award granted hereunder. The Company or any Subsidiary is authorized to withhold from any payment relating to an Award under the Plan, including from a distribution of Common Stock or any payroll or other payment to a Participant, amounts of withholding and other taxes due in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award. This authority shall include the ability to withhold or receive Common Stock or other property and to make cash payments in respect thereof in satisfaction of a Participant ’ s tax obligations.

Section 12. Limits on Transferability; Beneficiaries . No Award or other right or interest of a Participant under the Plan shall be pledged, encumbered, or hypothecated to, or in favor of, or subject to any lien, obligation, or liability of such Participant to, any party, other than the Company or any Subsidiary, or assigned or transferred by such Participant otherwise than by will or the laws of descent and distribution, and such Awards and rights shall be exercisable during the lifetime of the Participant only by the Participant or his or her guardian or legal representative. Notwithstanding the foregoing, the Committee may, in its discretion, provide that Options, SARs and Restricted Stock be transferable, without consideration, to immediate family members (i.e., children, grandchildren or spouse), to trusts for the benefit of such immediate family members and to partnerships in which such family members are the only partners (any vesting conditions shall be unaffected by such transfer). The Committee may attach to such transferability feature such terms and conditions as it deems advisable. In addition, a Participant may, in the manner established by the Committee, designate a beneficiary (which may be a person or a trust) to exercise the rights of the Participant, and to receive any distribution, with respect to any Award upon the death of the Participant. A beneficiary, guardian, legal representative or other person claiming any rights under the Plan from or through any Participant shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined by the Committee, and to any additional restrictions deemed necessary or appropriate by the Committee.

Section 13. Foreign Nationals . Without amending the Plan, Awards may be granted to Employees, Consultants and Non-Employee Directors who are foreign nationals or are employed or providing services outside the United States or both, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to further the purpose of the Plan. Moreover, the Committee may approve such supplements to, or amendments, restatements or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose, provided that no such supplements, amendments, restatements or alternative versions shall include any provisions that are inconsistent with the terms of the Plan, as then in effect, unless the Plan could have been amended to eliminate such inconsistency without further approval by the stockholders of the Company.

Section 14. Securities Law Requirements .

14.1. No shares of Common Stock may be issued hereunder if the Company shall at any time determine that to do so would (i) violate the listing requirements of an applicable securities exchange, or adversely affect the registration or qualification of the Company ’ s Common Stock under any state or federal law, or (ii) require the consent or approval of any regulatory body or the satisfaction of withholding tax or other withholding liabilities. In any of the events referred to in clause (i) or clause (ii) above, the issuance of such shares shall be suspended and shall not be effective unless and until such withholding, listing, registration, qualifications or approval shall have been effected or obtained free of any conditions not acceptable to the Company in its sole discretion, notwithstanding any termination of any Award or any portion of any Award during the period when issuance has been suspended.

14.2. The Committee may require, as a condition to the issuance of shares hereunder, representations, warranties and agreements to the effect that such shares are being purchased or acquired by the Participant for investment only and without any present intention to sell or otherwise distribute such shares and that the Participant will not dispose of such shares in transactions which, in the opinion of counsel to the Company, would violate the registration provisions of the Securities Act, and the rules and regulations thereunder.

Section 15. Termination . Unless earlier terminated, the Plan shall terminate with respect to the grant of Awards on January 17, 2029.

Section 16. Fractional Shares . The Company will not be required to issue any fractional shares of Common Stock pursuant to the Plan. The Committee may provide for the elimination of fractions and settlement of such fractional shares of Common Stock in cash.

Section 17. Discretion . In exercising, or declining to exercise, any grant of authority or discretion hereunder, the Committee may consider or ignore such factors or circumstances and may accord such weight to such factors and circumstances as the Committee alone and in its sole judgment deems appropriate and without regard to the effect such exercise, or declining to exercise such grant of authority or discretion, would have upon the affected Participant, any other Participant, any Employee, the Company, any Subsidiary, any affiliate, any shareholder or any other person.

Section 18. Code Section 409A . The Plan and all Awards are intended to comply with, or be exempt from, Code Section 409A and all regulations, guidance, compliance programs and other interpretative authority thereunder, and shall be interpreted in a manner consistent therewith. Notwithstanding anything contained herein to the contrary, in the event any Award is subject to Code Section 409A, the Committee may, in its sole discretion and without a Participant ’ s prior consent, amend the Plan and/or Award, adopt policies and procedures, or take any other actions as deemed appropriate by the Committee to (i) exempt the Plan and/or any Award from the application of Code Section 409A, (ii) preserve the intended tax treatment of any such Award or (iii) comply with the requirements of Code Section 409A. Notwithstanding anything contained in the Plan or in an Award Agreement to the contrary, neither the Company, any member of the Committee nor any Subsidiary shall have any liability or obligation to any Participant or any other person for taxes, interest, penalties or fines (including any of the foregoing resulting from the failure of any Award granted hereunder to comply with, or be exempt from, Code Section 409A). In the event that a Participant is a “ specified employee ” within the meaning of Code Section 409A, and a payment or benefit provided for under the Plan would be subject to additional tax under Code Section 409A if such payment or benefit is paid within six (6) months after such Participant ’ s separation from service (within the meaning of Code Section 409A), then such payment or benefit shall not be paid (or commence) during the six (6) month period immediately following such Participant ’ s separation from service except as provided in the immediately following sentence. In such an event, any payments or benefits that would otherwise have been made or provided during such six (6) month period and which would have incurred such additional tax under Code Section 409A shall instead be paid to the Participant in a lump-sum, without interest, on the earlier of (i) the first business day of the seventh month following the month in which such Participant ’ s separation from service occurs or (ii) the tenth business day following such Participant ’ s death (but not earlier than if such delay had not applied).

Section 19. Governing Law . The validity and construction of the Plan and any Award Agreement entered into hereunder shall be construed and enforced in accordance with the laws of the State of Delaware, but without giving effect to the conflict of laws principles thereof.

Section 20. Recoupment . Any Award granted pursuant to the Plan shall be subject to mandatory repayment by the Participant to the Company pursuant to the terms of any Company “ clawback ” or recoupment policy directly applicable to the Plan and (i) set forth in the Participant ’ s Award Agreement, (ii) set forth in the Company policy or (iii) required by law to be applicable to the Participant.

Section 21. Effective Date . The Plan shall become effective upon the Effective Date, and no Award shall become exercisable, realizable or vested prior to the Effective Date.

Exhibit 99.2

EXECUTIVE STOCK OPTION AGREEMENT

UNDER THE AMENDED AND RESTATED PDS BIOTECHNOLOGY CORPORATION

2014 EQUITY INCENTIVE PLAN

THIS STOCK OPTION AGREEMENT (this “ Agreement ” ) between PDS Biotechnology Corporation (the “ Corporation ” or the “ Company ” ) and the individual specified on the Notice of Grant (the “ Optionee ” ) is made as of the date of grant specified on the Notice of Grant to which this Agreement is attached (the “ Grant Notice ” ). The date of grant specified on the Grant Notice is referred to herein as the “ Grant Date . ”

RECITALS

WHEREAS, the Corporation maintains the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (formerly known as the Amended and Restated Edge Therapeutics, Inc. 2014 Equity Incentive Plan) (the “ Plan ” ) for the benefit of its employees, directors and consultants; and

WHEREAS, the Plan permits the Corporation to award options with respect to shares of the Corporation ’ s common stock, $0.00033 par value per share ( “ Shares ” ), subject to the terms of the Plan.

NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the parties, intending to be legally bound hereby, agree as follows:

1. Award of Option . The Corporation hereby grants to the Optionee, as of the Grant Date, the option (the “ Option ” ) to purchase the number of Shares specified on the Grant Notice (the “ Option Shares ” ). The Option is subject to the terms set forth herein, and the terms of the Plan, which terms and provisions are incorporated herein by reference. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Plan.

2. Type of Option . If the Grant Notice indicates that the grant type is “ ISO, ” then the Option is intended to be an Incentive Stock Option described by Section 422 of the Internal Revenue Code of 1986, as amended (the “ Code ” ). Notwithstanding the designation of this Option as either an Incentive Stock Option or non-qualified stock option, the Corporation makes no representation as to the treatment of the Option under any federal, state, local or foreign tax law and the Corporation has not advised the Optionee on such matters. If the Grant Notice does not specify the grant type as “ ISO, ” or if any portion of the Option cannot qualify as an Incentive Stock Option, then the Option (or such portion of the Option, as applicable) shall not be an Incentive Stock Option.

3. Term of Option .

(a) Term . The term of the Option shall commence on the Grant Date and end on the Expiration Date specified on the Grant Notice, or on such earlier date as provided in the Plan and Section 3(b) below (the “ Term ” ).

(b) Termination of Employment . Upon the Optionee ’ s termination of employment with the Company and its Subsidiaries, except as set forth in Section 5(b) [or 5(c)] ¹ or Section 14 hereof, the unvested portion of the Option shall cease to vest and shall be forfeited and the vested portion of the Option (taking into consideration any vesting required by Section 5(b) [or 5(c)] or Section 14 hereof, if applicable) shall remain exercisable by the Optionee or the Optionee ’ s beneficiary or legal representative, as the case may be, for a period of (i) the period during which the Optionee receives salary continuation following a termination by the Company or a Subsidiary without Cause or by the Optionee for Good Reason, (ii) 180 days in the event of a termination due to death or Disability; (iii) 90 days in the event of the Optionee ’ s resignation (other than for Retirement or for Good Reason) and (iv) in the case of Retirement, the period set forth in an effective employment, consulting, severance or similar agreement between the Optionee and the Company or a Subsidiary, or, if there is no such agreement or no period is set forth therein, three years; provided, however, that no part of the Option shall be exercisable after the Expiration Date. The entire unexercised portion of the Option, whether or not vested, shall be forfeited immediately upon the Optionee ’ s termination by the Company or a Subsidiary for Cause. Unless otherwise defined in an effective employment, consulting, severance or similar agreement between the Optionee and the Company or a Subsidiary, “ Retirement ” means a termination of the Optionee ’ s employment by either the Optionee or the Company (other than for Cause) if, as of the date of such termination, the Optionee has attained at least 55 years of age and the Optionee ’ s age plus full years of continuous service to the Company and its Subsidiaries is equal to or greater than 65; provided, that, if at the time of such termination, the Company or a Subsidiary has Cause to terminate the Optionee, such termination shall not be considered a termination for Retirement.

¹ For CEO

4. Exercise Price . The cost to the Optionee to purchase, pursuant to this Agreement, one Option Share is the Exercise Price specified on the Grant Notice (subject to adjustment as set forth in the Plan).

5. Exercise of Option . The Option will be exercisable during the Term only to the extent that it is then vested and then only in accordance with the terms and provisions of the Plan and this Agreement.

(a) Vesting - General . The Option will vest and become exercisable in accordance with the vesting schedule set forth on the Grant Notice. Except as provided in Section 5(b) [or 5(c)] ² hereof, upon the Optionee ’ s termination of employment with the Corporation and its Subsidiaries for any reason, the unvested portion of the Option shall be immediately forfeited with no consideration due to the Optionee.

(b) Vesting - Change in Control . Unless otherwise determined by the Committee, the unvested portion of the Option shall not automatically vest upon a Change in Control. Notwithstanding the foregoing, the Option shall vest in full upon a Qualifying Termination (as defined in Section 5[(c)] [(d)] ³ ).

(c) [Vesting - Termination Without Cause or for Good Reason . If the Optionee ’ s employment is terminated at any time by the Company without Cause or by the Optionee for Good Reason, then, except as otherwise provided in Section 5(b), 25% of the Option that remains unvested as of the date of such termination shall become vested immediately as of the effective date of such termination.] ⁴

(d) Definition of Qualifying Termination . For purposes of this Agreement, “ Qualifying Termination ” means a termination of the Optionee ’ s employment with the Corporation or any Subsidiary that occurs during the 12-month period immediately following a Change in Control and is (i) due to the Optionee ’ s death or Disability, (ii) by the Corporation or a Subsidiary without Cause or (iii) by the Optionee for Good Reason. “ Good Reason ” shall have the meaning given in an effective employment, consulting, severance or other similar agreement between the Optionee and the Corporation or any Subsidiary, or, if the Optionee is not a party to such an agreement or the term “ Good Reason ” is not defined therein, “ Good Reason ” shall mean, without the Optionee ’ s written consent, (i) a reduction in the Optionee ’ s base salary or target bonus opportunity expressed as a percentage of base salary, (ii) a material diminution in the Optionee ’ s title, duties, authority, reporting relationship or responsibilities from those in effect immediately prior to such Change in Control or (iii) a relocation of the Optionee ’ s principal office or work location to a location that is more than thirty-five (35) miles from the Optionee ’ s principal office or work location immediately prior to such Change in Control; provided, however, that no event or circumstance shall constitute Good Reason unless the Optionee provides written notice to the Corporation or a Subsidiary of the condition that could constitute “ Good Reason ” within ninety (90) days after the initial existence of such condition, such condition is not remedied by the Company or a Subsidiary within thirty (30) days after such written notice is given to the Company, and the Optionee terminates his or her employment within ninety (90) days following the end of such cure period. Notwithstanding the foregoing, if the Optionee is party to an effective employment, consulting, severance or other similar agreement between the Optionee and the Corporation or a Subsidiary and (A) any prong of the definition of “ good reason ” therein is less favorable to the Optionee than the corresponding prong in the definition set forth in this Agreement, then the corresponding prong in this Agreement shall apply for purposes of this Option and (B) the definition of “ good reason ” set forth therein does not include a relocation prong, then clause (iii) of the definition of Good Reason set forth in this Agreement shall apply to the Optionee with respect to this Option

(e) Method of Exercise . The Optionee may exercise the Option by providing written notice to the Corporation stating the election to exercise the Option. Such written notice shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary of the Corporation or such other Person as may be designated by the Corporation. The written notice shall be accompanied by (i) payment of the Exercise Price and (ii) payment of, or arrangement of payment of, all applicable withholding taxes as provided in Section 9 below. Payment of the purchase price shall be by cash, or certified or bank check or such other consideration and method of payment as may be authorized by the Committee pursuant to the Plan. Following exercise, any certificate(s) for Option Shares shall be registered in the name of the Optionee (or his or her heirs or beneficiary, as applicable).

(f) Partial Exercise . The Option, to the extent vested, may be exercised in whole or in part; provided, however, that any exercise may apply only with respect to whole numbers of Option Shares.

² For CEO

³ For CEO

⁴ For CEO

(g) Restrictions on Exercise . Upon a Change in Control, the right to exercise the Option shall be subject to Sections 7.1 and 7.2 of the Plan. The Option shall not be exercised if the issuance of the Option Shares upon such exercise would constitute a violation of any applicable federal or state securities laws or other laws or regulations. As a further condition to the exercise of the Option, and in addition to any other requirements set forth in this Agreement, the Corporation may require the Optionee to make any other representation or warranty to the Corporation as may be required by or advisable under any applicable law or regulation.

(h) Termination of Option . Upon the end of the Term, any portion of the Option that remains unexercised shall be forfeited and cancelled with no consideration due to the Optionee.

6. Non-Transferability of Option . The Option may not be sold, pledged, assigned, hypothecated, gifted, transferred or disposed of in any manner either voluntarily or involuntarily by operation of law, other than by will or by the laws of descent and distribution. During the Optionee ’ s lifetime, the Option is exercisable only by the Optionee. If the Optionee dies during the Term, the terms of this Agreement and the Plan will be binding upon the executors, administrators, legal guardians, representatives, estate and heirs of the Optionee, whether testamentary heirs or heirs by intestacy.

7. Conditions on All Transfers of Option Shares . Notwithstanding anything to the contrary contained in this Section 7, no Transfer of an Option Share shall be made, or, if attempted or purported to be made, shall be effective, unless and until the Corporation is satisfied that the Transfer will not violate any federal or state securities law or any other law or agreement (including this Agreement). If the Transfer would violate any such law or agreement and the Optionee nevertheless attempts or purports to engage in a Transfer of Option Shares, then the Corporation shall not recognize such Transfer on the books and records of the Corporation and such Transfer will be null and void ab initio . In addition, the Optionee will be liable to the Corporation for damages, if any, which may result from such attempted or purported Transfer.

8. No Promise of Employment . Neither the Plan nor the Option nor the holding of Option Shares will confer upon the Optionee any right to continue in the employ or other service of the Corporation or any Subsidiary, or limit, in any respect, the right of the Corporation or any Subsidiary to discharge the Optionee at any time, with or without Cause and with or without notice.

9. Withholding . The Optionee shall be responsible for making appropriate provision for all taxes required to be withheld in connection with the Option or the exercise thereof. Such responsibility shall extend to all applicable federal, state, local and foreign withholding taxes. The Corporation or its Subsidiaries, in their sole discretion, shall have the right to retain the number of shares whose Fair Market Value equals the amount to be withheld in satisfaction of the applicable withholding taxes (or to withhold from any payroll or other amounts otherwise due to the Optionee the amount of withholding taxes due in connection with the exercise of the Option). Notwithstanding the foregoing, if the Optionee is subject to Section 16 of the Exchange Act at the time of exercise of the Option, then the Company shall permit the Optionee to pay the Exercise Price and the withholding taxes relating to the exercise of the Option through a broker-assisted exercise of the Option whereby the broker will sell a number of shares sufficient to pay such Exercise Price and withholding taxes and shall remit the proceeds of the sale to the Company, and with any remaining shares to be credited to the account of the Optionee (provided that any form of payment of the withholding taxes or exercise price relating to the Option that would result in liability accounting shall not apply notwithstanding any contrary position in this Agreement or in the Plan).

10. The Plan . The Optionee has received a copy of the Plan (a copy of which is attached hereto as Exhibit A ), has read the Plan and is familiar with its terms, and hereby accepts the Option subject to all of the terms and provisions of the Plan, as amended from time to time, and this Agreement. Pursuant to the Plan, the Committee is authorized to interpret the Plan and to adopt rules and regulations not inconsistent with the Plan as it deems appropriate. The Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee with respect to the Plan, this Agreement, the Option Shares or any agreement relating to the Option or the Option Shares.

11. Governing Law . This Agreement will be construed in accordance with the laws of the State of Delaware, without regard to the application of the principles of conflicts of laws of Delaware or any other jurisdiction.

12. Severability . All provisions of this Agreement are distinct and severable and if any clause shall be held to be invalid, illegal or against public policy, the validity or the legality of the remainder of this Agreement shall not be affected thereby, and the remainder of this Agreement shall be interpreted to give maximum effect to the original intention of the parties hereto.

13. Amendment . Subject to the provisions of the Plan, this Agreement may only be amended by a writing signed by each of the parties hereto.

14. Employment Agreement Override . If the Optionee is a party to an effective employment, consulting, severance or other similar agreement with the Company or any of its Subsidiaries that provides for any special vesting benefits in connection with a termination of employment or other service that conflict with those set forth in this Agreement or the Plan, the provisions of such employment, consulting, severance or other similar agreement shall control, except that any provision in any such employment, consulting, severance or other similar agreement (i) that requires vesting of options upon a Change in Control or similar event shall not apply to the Option and (ii) that specifies a period during which the Option may be exercised following a termination of employment shall not apply to the Option.

15. Entire Agreement . This Agreement, together with the Grant Notice and the Plan, and the other exhibits attached thereto or hereto, represents the entire agreement between the parties hereto relating to the subject matter hereof, and merges and supersedes all prior and contemporaneous discussions, agreements and understandings of every nature relating to the award of the Option to Optionee by the Corporation. By signing the Grant Notice, the Optionee understands and hereby agrees that any provision in an effective employment, consulting, severance or other similar agreement between the Optionee and the Company or any Subsidiary that requires vesting of options upon a Change in Control or similar event, or that specifies a period during which the Option may be exercised following a termination of employment (other than a termination of employment as a result of Retirement), shall not apply to the Option.

EXHIBIT A

Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan

NOTICE OF GRANT AND OPTION AGREEMENT

Company Information:				Optionee:
PDS Biotechnology Corporation				[NAME]

300 Connell Drive, Suite 4000				[ADDRESS]
				[CITY, STATE, ZIP]
				United States

Berkeley Heights, NJ 07922
United States

Phone: 800-208-3433				Phone: [_________]

Fax: 800-208-3433				Email: [__________]

Plan Name:			Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan	Date of Grant:			[_____]

Grant Type:			[ISO] [NQSO]	Date of Expiration:			[_____]

Option Number:			[___]

Number Granted:			[_____]

Vesting Type:			Other	Exercise Price:			$[_____]

Vesting Start Date:			[_____]	Total Option Price:			$[_____]
Vesting Schedule:
		Date Vested		Shares Vested
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		Total:		[_____]
By your signature and the Company ’ s signature below, you and the Company agree that the Option specified in this Grant Notice is granted under and governed by the terms and conditions of the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan, as amended from time to time, and the Option Agreement, all of which are attached and made a part of this Grant Notice.
OPTIONEE:						PDS BIOTECHNOLOGY CORPORATION


Name:	[_________]				By:	[_________]

Date:					Date:

Exhibit 99.3

EMPLOYEE ¹ STOCK OPTION AGREEMENT

UNDER THE AMENDED AND RESTATED PDS BIOTECHNOLOGY CORPORATION

2014 EQUITY INCENTIVE PLAN

THIS STOCK OPTION AGREEMENT (this “ Agreement ” ) between PDS Biotechnology Corporation (the “ Corporation ” or the “ C ompany ” ) and the individual specified on the Notice of Grant (the “ Optionee ” ) is made as of the date of grant specified on the Notice of Grant to which this Agreement is attached (the “ Grant Notice ” ). The date of grant specified on the Grant Notice is referred to herein as the “ Grant Date . ”

RECITALS

NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the parties, intending to be legally bound hereby, agree as follows:

3. Term of Option .

(b) Termination of Employment . Upon the Optionee ’ s termination of employment with the Company and its Subsidiaries, except as set forth in Section 5(b) or Section 14 hereof, the unvested portion of the Option shall cease to vest and shall be forfeited and the vested portion of the Option (taking into consideration any vesting required by Section 5(b) hereof, if applicable) shall remain exercisable by the Optionee or the Optionee ’ s beneficiary or legal representative, as the case may be, for a period of (i) 90 days in the event of the Optionee ’ s termination for any reason other than for Cause, death or Disability and (ii) 180 days in the event of a termination due to death or Disability; provided, however, that no part of the Option shall be exercisable after the Expiration Date. The entire unexercised portion of the Option, whether or not vested, shall be forfeited immediately upon the Optionee ’ s termination by the Company or a Subsidiary for Cause.

(a) Vesting - General . The Option will vest and become exercisable in accordance with the vesting schedule set forth on the Grant Notice. Except as provided in Section 5(b) hereof, upon the Optionee ’ s termination of employment with the Corporation and its Subsidiaries for any reason, the unvested portion of the Option shall be immediately forfeited with no consideration due to the Optionee.

¹ To be used for employees who are not executives.

(c) Definition of Qualifying Termination . For purposes of this Agreement, “ Qualifying Termination ” means a termination of the Optionee ’ s employment with the Corporation or any Subsidiary that occurs during the 12-month period immediately following a Change in Control and is (i) due to the Optionee ’ s death or Disability, (ii) by the Corporation or a Subsidiary without Cause or (iii) by the Optionee for Good Reason. “ Good Reason ” shall have the meaning given in an effective employment, consulting, severance or other similar agreement between the Optionee and the Corporation or any Subsidiary, or, if the Optionee is not a party to such an agreement or the term “ Good Reason ” is not defined therein, “ Good Reason ” shall mean, without the Optionee ’ s written consent, (i) a reduction in the Optionee ’ s base salary or target bonus opportunity expressed as a percentage of base salary, (ii) a material diminution in the Optionee ’ s title, duties, authority, reporting relationship or responsibilities from those in effect immediately prior to such Change in Control or (iii) a relocation of the Optionee ’ s principal office or work location to a location that is more than thirty-five (35) miles from the Optionee ’ s principal office or work location immediately prior to such Change in Control; provided, however, that no event or circumstance shall constitute Good Reason unless the Optionee provides written notice to the Corporation or a Subsidiary of the condition that could constitute “ Good Reason ” within ninety (90) days after the initial existence of such condition, such condition is not remedied by the Company or a Subsidiary within thirty (30) days after such written notice is given to the Company, and the Optionee terminates his or her employment within ninety (90) days following the end of such cure period. Notwithstanding the foregoing, if the Optionee is party to an effective employment, consulting, severance or other similar agreement between the Optionee and the Corporation or a Subsidiary and (A) any prong of the definition of “ good reason ” therein is less favorable to the Optionee than the corresponding prong in the definition set forth in this Agreement, then the corresponding prong in this Agreement shall apply for purposes of this Option and (B) the definition of “ good reason ” set forth therein does not include a relocation prong, then clause (iii) of the definition of Good Reason set forth in this Agreement shall apply to the Optionee with respect to this Option

(d) Method of Exercise . The Optionee may exercise the Option by providing written notice to the Corporation stating the election to exercise the Option. Such written notice shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary of the Corporation or such other Person as may be designated by the Corporation. The written notice shall be accompanied by (i) payment of the Exercise Price and (ii) payment of, or arrangement of payment of, all applicable withholding taxes as provided in Section 9 below. Payment of the purchase price shall be by cash, or certified or bank check or such other consideration and method of payment as may be authorized by the Committee pursuant to the Plan. Following exercise, any certificate(s) for Option Shares shall be registered in the name of the Optionee (or his or her heirs or beneficiary, as applicable).

(e) Partial Exercise . The Option, to the extent vested, may be exercised in whole or in part; provided, however, that any exercise may apply only with respect to whole numbers of Option Shares.

(f) Restrictions on Exercise . Upon a Change in Control, the right to exercise the Option shall be subject to Sections 7.1 and 7.2 of the Plan. The Option shall not be exercised if the issuance of the Option Shares upon such exercise would constitute a violation of any applicable federal or state securities laws or other laws or regulations. As a further condition to the exercise of the Option, and in addition to any other requirements set forth in this Agreement, the Corporation may require the Optionee to make any other representation or warranty to the Corporation as may be required by or advisable under any applicable law or regulation.

(g) Termination of Option . Upon the end of the Term, any portion of the Option that remains unexercised shall be forfeited and cancelled with no consideration due to the Optionee.

13. Amendment . Subject to the provisions of the Plan, this Agreement may only be amended by a writing signed by each of the parties hereto.

EXHIBIT A

Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan

NOTICE OF GRANT AND OPTION AGREEMENT

Company Information:				Optionee:
PDS Biotechnology Corporation				[NAME]

300 Connell Drive, Suite 4000				[ADDRESS]
				[CITY, STATE, ZIP]
				United States

Berkeley Heights, NJ 07922
United States

Phone: 800-208-3343				Phone: [_________]

Fax: 800-208-3433				Email: [__________]

Plan Name:			Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan	Date of Grant:			[_____]

Grant Type:			[ISO] [NQSO]	Date of Expiration:			[_____]

Option Number:			[___]

Number Granted:			[_____]

Vesting Type:			Other	Exercise Price:			$[_____]

Vesting Start Date:			[_____]	Total Option Price:			$[_____]
Vesting Schedule:
		Date Vested		Shares Vested
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		[_____]		[_____]
		Total:		[_____]
By your signature and the Company ’ s signature below, you and the Company agree that the Option specified in this Grant Notice is granted under and governed by the terms and conditions of the Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan, as amended from time to time, and the Option Agreement, all of which are attached and made a part of this Grant Notice.
OPTIONEE:					PDS BIOTECHNOLOGY CORPORATION


Name:	[_________]				By:	[_________]

Date:					Date:

Title of securities to be registered ⁽¹⁾	Amount to be registered ⁽²⁾		Proposed maximum offering price per share ⁽³⁾		Proposed maximum aggregate offering price ⁽³⁾		Amount of registration fee
Common Stock, Par Value $0.00033
Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan (available)		826,292	$	7.36	$	6,081,509.12	$	737.08
Total		826,292					$	737.08

Delaware	300 Connell Drive, Suite 4000 Berkeley Heights, NJ 07922	26-4231384
(State of Incorporation)	(Address of principal executive offices) (Zip Code)	(I.R.S. Employer Identification No.)

Exhibit Number	Description
4.1	Eighth Amended and Restated Certificate of Incorporation of PDS Biotechnology Corporation (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on October 6, 2015, and incorporated by reference herein).

4.2	Certificate of Amendment to Restated Certificate of Incorporation (filed as Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed with the Commission on March 18, 2019, and incorporated by reference herein).

4.3	Certificate of Amendment to Restated Certificate of Incorporation (filed as Exhibit 3.2 to the Registrant’s Current Report on Form 8-K filed with the Commission on March 18, 2019, and incorporated by reference herein).

4.4	Second Amended and Restated Bylaws of PDS Biotechnology Corporation (filed as Exhibit 3.2 to the Registrant’s Current Report on Form 8-K filed with the Commission on October 6, 2015, and incorporated by reference herein).

4.5	Form of Certificate of Common Stock (filed as Exhibit 4.1 to the Registrant’s Registration Statement on Form S-1 filed with the Commission on September 21, 2015, and incorporated by reference herein).

5.1	Opinion and Consent of DLA Piper LLP (US).

23.1	Consent of KPMG LLP.

23.2	Consent of DLA Piper LLP (US) is contained in Exhibit 5.1.

24.1	Power of Attorney (contained on the signature page hereto).

99.1	Amended and Restated PDS Biotechnology Corporation 2014 Equity Incentive Plan.

99.2	Form of PDS Biotechnology Corporation Executive Stock Option Agreement.

99.3	Form of PDS Biotechnology Corporation Employee Stock Option Agreement.

	PDS Biotechnology Corporation

	By:	/s/ Frank Bedu-Addo
	Name:	Frank Bedu-Addo
	Title	President and Chief Executive Officer

Signature	Title	Date

/s/ Frank Bedu-Addo	President, Chief Executive Officer and Director	June 4, 2019
Frank Bedu-Addo	(Principal Executive Officer)

/s/ Andrew Saik	Chief Financial Officer and Director	June 4, 2019
Andrew Saik	(Principal Financial and Accounting Officer)

/s/ Sir Richard Sykes	Director	June 4, 2019
Sir Richard Sykes

/s/ De Lyle W. Bloomquist	Director	June 4, 2019
De Lyle W. Bloomquist

/s/ Gregory Freitag	Director	June 4, 2019
Gregory Freitag

/s/ James Loughlin	Director	June 4, 2019
James Loughlin

/s/ Stephen Glover	Director	June 4, 2019
Stephen Glover