Common use of FORM OF NOTICE OF STOCK OPTION GRANT Clause in Contracts

FORM OF NOTICE OF STOCK OPTION GRANT. Dear Mr. Xxxxx Xxxxxxx (“Optionee”), Reference is hereby made to (i) the Stock Option Plan of Lightlake Therapeutics Inc. (the “Company”) effective December 15, 2010 (the “Stock Option Plan”), and (ii) the Executive Letter of Appointment dated November 26, 2012, between the Company and Xxxxx Xxxxxxx, Esq., amended on December 31, 2012, and further amended on December 31, 2013 (as amended, restated, or otherwise modified from time to time, the “Letter”). Capitalized terms utilized herein shall have the meanings ascribed to them in the Stock Option Plan unless otherwise defined herein. Optionee has been granted options to purchase Common Stock of the Company (with each share of Common Stock of the Company, a “Share”) as follows: Board Approval Date: Date of Grant: Exercise Price per Share: Total Number of Shares Granted: Total Exercise Price: Cashless exercise as per the Letter Type of Options: Non-Qualified Stock Options Expiration Date: The date that is ten (10) years from the Date of Grant Termination Period: These Options may be exercised for a period of ten (10) years from the Date of Grant, as appropriate. Optionee is responsible for keeping track of these exercise periods following termination for any reason of his service relationship with the Company, it being understood that Optionee is entitled to all rights, including compensation and vesting rights, with respect to these Options, as set forth in the Letter. The Company will not provide further notice of such periods. Transferability: These Options may not be transferred, except as permitted by applicable laws and regulations. Restriction on Exercise: None. Vesting: 100% on the Date of Grant Following receipt by the Company of evidence and/or an indemnity from the Optionee to the Company in a form reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of these Options or any certificates for representing the Shares underlying these Options and, in the event of mutilation, following the surrender and cancellation of such Options or stock certificate, the Company will make and deliver replacement Options or stock certificate of like tenor and dated as of such cancellation, in lieu of these Options or stock certificates, without any charge therefor, it being understood that the making and/or delivery of such replacement Options or stock certificates by the Company will not be unreasonably withheld. Any such replacement Options or stock certificates shall be subject to the same terms, conditions, and restrictions as these Options and any Shares underlying these Options. Subject to the restrictions and requirements of applicable law, these Options are exchangeable at any time for an equal aggregate number of options of different denominations, as reasonably requested by the Optionee surrendering the same, or in such denominations as may be requested by the Optionee (but not exceeding the number of Shares underlying the Options in these Options in the aggregate). No service charge will be made for such registration or transfer, exchange or reissuance. Shares issued to you upon exercise of these Options shall be registered under the Securities Act of 1933, as amended, and shall be freely transferrable. To the extent that the terms of the Stock Option Plan differ from the terms of this Notice of Stock Option Grant (the “Notice”), the terms of this Notice supersede the terms of the Stock Option Plan. By your signature and the signature of the Company’s representative below, you and the Company agree to the terms of these Options. LIGHTLAKE THERAPEUTICS INC. Optionee Xxxxx Xxxxxxx, Chief Executive Officer EXHIBIT B Form of Notice of Exercise of Stock Option Ladies and Gentlemen: This letter constitutes an unconditional and irrevocable notice that I hereby exercise the stock option(s) granted to me by Lightlake Therapeutics Inc., a Nevada corporation (the “Company”) on _______________ at a fair market value of US$ ______ per share. Pursuant to the terms of such option(s), I wish to purchase _______________ shares of the common stock covered by such option(s) at the exercise price(s) of US$ ______ per share via cashless exercise. These shares should be registered under the Securities Act of 1933, as amended, and delivered as follows: Name: Address: Social Security Number: I represent that I will not dispose of such shares in any manner that would involve a violation of applicable securities laws. Dated: By: Name:

FORM OF NOTICE OF STOCK OPTION GRANT. Dear Mr. Xxxx Xxxxx Xxxxxxx (“Optionee”), Reference is hereby made to (i) the Stock Option Plan of Lightlake Therapeutics Inc. (the “Company”) effective December 15, 2010 (the “Stock Option Plan”), and (ii) the Executive Letter of Appointment Senior Advisor Agreement dated November 26January 22, 2012, 2013 between the Company and Xxxx Xxxxx Xxxxxxx, Esq., amended on December 31, 2012, and further amended on December 31, 2013 (as amended, restated, or otherwise modified from time to time, the “Letter”). Capitalized terms utilized herein shall have the meanings ascribed to them in the Stock Option Plan unless otherwise defined herein. Optionee has You have been granted options to purchase Common Stock of the Company (with each share of Common Stock of the Company, a “Share”) as follows: Board Approval Date: Date of Grant: Exercise Price per Share: US$0.15 Total Number of Shares Granted: 1,750,000 Total Exercise Price: Cashless exercise as per the Letter Type of Options: Non-Qualified Stock Options Expiration Date: The date that is ten five (105) years from the Date of Grant Termination Period: These Options may be exercised for a period of ten five (105) years from the Date of Grant, as appropriate. Optionee is responsible for keeping track of these exercise periods following termination for any reason of his service relationship with the Company, it being understood that Optionee is entitled to all rights, including compensation and vesting rights, with respect to these Optionsthis Option, as set forth in the Letter. The Company will not provide further notice of such periods. Transferability: These Options may not be transferred, except as permitted by applicable laws and regulations. Restriction Restrictions on Exercise: NoneThese Options may only be exercised between the following dates: (i) the earliest date on which the price per Share has traded at or above US$0.30 for at least three (3) trading days out of any ten (10) consecutive trading days; and (ii) the Expiration Date. Notwithstanding anything to the contrary contained in any agreement with the Company, it is an absolute condition of the Optionee’s right to exercise any Option that the Optionee be in full compliance with any other agreements between the Optionee and the Company, including without limitation any confidentiality agreements. Vesting: 100% on the Date date of Grant the Senior Advisor Agreement referenced herein Following receipt by the Company of evidence and/or an indemnity from the Optionee to the Company in a form reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of these Options or any certificates for representing the Shares underlying these Options and, in the event of mutilation, following the surrender and cancellation of such Options or stock certificate, the Company will make and deliver replacement Options or stock certificate of like tenor and dated as of such cancellation, in lieu of these Options or stock certificates, without any charge therefor, it being understood that the making and/or delivery of such replacement Options or stock certificates by the Company will not be unreasonably withheld. Any such replacement Options or stock certificates shall be subject to the same terms, conditions, and restrictions as these Options and any Shares underlying these Options. Subject Proportionate adjustments shall automatically be made to both the restrictions Exercise Price and requirements of applicable law, these Options are exchangeable at any time for an equal aggregate number of options these Options, and the Restrictions on Exercise, in the event of different denominationsa stock split, as reasonably requested by the Optionee surrendering the samestock dividend, reclassification, recapitalization, or any other increase or decrease in such denominations as may be requested by the Optionee (but not exceeding the number of issued Shares underlying of the Options in these Options in Company effected without receipt of consideration by the aggregate). No service charge will be made for Company, or upon any other event reasonably determined by a majority of the Board of Directors of the Company to justify such registration or transfer, exchange or reissuance. Shares issued to you upon exercise of these Options shall be registered under the Securities Act of 1933, as amended, and shall be freely transferrableadjustments. To the extent that the terms of the Stock Option Plan differ from the terms of this Notice of Stock Option Grant (the “Notice”), the terms of this Notice supersede the terms of the Stock Option Plan. By your signature and the signature of the Company’s representative below, you and the Company agree to the terms of these Options. XXXX XXXXX LIGHTLAKE THERAPEUTICS INC. Optionee Xxxxx XxxxxxxCrystal, Chief Executive Officer EXHIBIT B Form of Notice of Exercise of Stock Option Ladies and Gentlemen: This letter constitutes an unconditional and irrevocable notice that I hereby exercise the stock option(s) granted to me by Lightlake Therapeutics Inc., a Nevada corporation (the “Company”) on _______________ at a fair market value of US$ ______ per share. Pursuant to the terms of such option(s), I wish to purchase _______________ shares of the common stock covered by such option(s) at the exercise price(s) of US$ ______ per share via cashless exercise. These shares should be registered under the Securities Act of 1933, as amended, and delivered as follows: Name: Address: Social Security Number: I represent that I will not dispose of such shares in any manner that would involve a violation of applicable securities laws. Dated: By: Name:

FORM OF NOTICE OF STOCK OPTION GRANT. Dear Mr. Dr. Xxxxx Xxxxxxx (“Optionee”), Reference is hereby made to (i) the Stock Option Plan of Lightlake Therapeutics Inc. (the “Company”) effective December 15, 2010 (the “Stock Option Plan”), and (ii) the Executive Letter of Appointment Reappointment dated November 26, 2012, between the Company and Xxxxx XxxxxxxCrystal, Esq., as amended on December 31, 2012, and further amended on December 31, 2013 (as amended, restated, or otherwise modified from time to time, the “Letter”). Capitalized terms utilized herein shall have the meanings ascribed to them in the Stock Option Plan unless otherwise defined herein. Optionee has been granted options to purchase Common Stock of the Company (with each share of Common Stock of the Company, a “Share”) as follows: Board Approval Date: Date of Grant: Exercise Price per Share: Total Number of Shares Granted: Total Exercise Price: Cashless exercise as per the Letter Type of Options: Non-Qualified Stock Options Expiration Date: The date that is ten (10) years from the Date of Grant Termination Period: These Options may be exercised for a period of ten (10) years from the Date of Grant, as appropriate. Optionee is responsible for keeping track of these exercise periods following termination for any reason of his service relationship with the Company, it being understood that Optionee is entitled to all rights, including compensation and vesting rights, with respect to these Options, as set forth in the Letter. The Company will not provide further notice of such periods. Transferability: These Options may not be transferred, except as permitted by applicable laws and regulations. Restriction on Exercise: None. Vesting: 100% on the Date of Grant Following receipt by the Company of evidence and/or an indemnity from the Optionee to the Company in a form reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of these Options or any certificates for representing the Shares underlying these Options and, in the event of mutilation, following the surrender and cancellation of such Options or stock certificate, the Company will make and deliver replacement Options or stock certificate of like tenor and dated as of such cancellation, in lieu of these Options or stock certificates, without any charge therefor, it being understood that the making and/or delivery of such replacement Options or stock certificates by the Company will not be unreasonably withheld. Any such replacement Options or stock certificates shall be subject to the same terms, conditions, and restrictions as these Options and any Shares underlying these Options. Subject to the restrictions and requirements of applicable law, these Options are exchangeable at any time for an equal aggregate number of options of different denominations, as reasonably requested by the Optionee surrendering the same, or in such denominations as may be requested by the Optionee (but not exceeding the number of Shares underlying the Options in these Options in the aggregate). No service charge will be made for such registration or transfer, exchange or reissuance. Shares issued to you upon exercise of these Options shall be registered under the Securities Act of 1933, as amended, and shall be freely transferrable. To the extent that the terms of the Stock Option Plan differ from the terms of this Notice of Stock Option Grant (the “Notice”), the terms of this Notice supersede the terms of the Stock Option Plan. By your signature and the signature of the Company’s representative below, you and the Company agree to the terms of these Options. LIGHTLAKE THERAPEUTICS INC. Optionee Xxxxx Xxxxxxx, Chief Executive Officer Name: EXHIBIT B Form of Notice of Exercise of Stock Option Ladies and Gentlemen: This letter constitutes an unconditional and irrevocable notice that I hereby exercise the stock option(s) granted to me by Lightlake Therapeutics Inc., a Nevada corporation (the “Company”) on _______________ at a fair market value of US$ ______ per share. Pursuant to the terms of such option(s), I wish to purchase _______________ shares of the common stock covered by such option(s) at the exercise price(s) of US$ ______ per share via cashless exercise. These shares should be registered under the Securities Act of 1933, as amended, and delivered as follows: Name: Address: Social Security Number: I represent that I will not dispose of such shares in any manner that would involve a violation of applicable securities laws. Dated: By: Name:

FORM OF NOTICE OF STOCK OPTION GRANT. Dear Mr. Xxxxx Dr. Xxxxxxx Xxxxxxxx (“Optionee”), Reference is hereby made to (i) the Stock Option Plan of Lightlake Therapeutics Inc. (the “Company”) effective December 15, 2010 (the “Stock Option Plan”), and (ii) the Executive Letter of Appointment Employment Agreement dated November 26August 6, 20122010, between the Company and Xxxxx XxxxxxxXxxxxxx Xxxxxxxx, Esq., as amended on December 31, 2012, and further amended on December 31, 2013 (as amended, restated, or otherwise modified from time to time, the “Letter”). Capitalized terms utilized herein shall have the meanings ascribed to them in the Stock Option Plan unless otherwise defined hereinherein or in the Letter. Optionee has been granted options to purchase Common Stock of the Company (with each share of Common Stock of the Company, a “Share”) as follows: Board Approval Date: Date of Grant: Exercise Price per Share: Total Number of Shares Granted: Total Exercise Price: Cashless exercise as per the Letter Type of Options: Non-Qualified Stock Options Expiration Date: The date that is ten (10) years from the Date of Grant Termination Period: These Options may be exercised for a period of ten (10) years from the Date of Grant, as appropriate. Optionee is responsible for keeping track of these exercise periods following termination for any reason of his service relationship with the Company, it being understood that Optionee is entitled to all rights, including compensation and vesting rights, with respect to these Options, as set forth in the Letter. The Company will not provide further notice of such periods. Transferability: These Options may not be transferred, except as permitted by applicable laws and regulations. Restriction on Exercise: None. Vesting: 100% on the Date of Grant Following receipt by the Company of evidence and/or an indemnity from the Optionee to the Company in a form reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of these Options or any certificates for representing the Shares underlying these Options and, in the event of mutilation, following the surrender and cancellation of such Options or stock certificate, the Company will make and deliver replacement Options or stock certificate of like tenor and dated as of such cancellation, in lieu of these Options or stock certificates, without any charge therefor, it being understood that the making and/or delivery of such replacement Options or stock certificates by the Company will not be unreasonably withheld. Any such replacement Options or stock certificates shall be subject to the same terms, conditions, and restrictions as these Options and any Shares underlying these Options. Subject to the restrictions and requirements of applicable law, these Options are exchangeable at any time for an equal aggregate number of options of different denominations, as reasonably requested by the Optionee surrendering the same, or in such denominations as may be requested by the Optionee (but not exceeding the number of Shares underlying the Options in these Options in the aggregate). No service charge will be made for such registration or transfer, exchange or reissuance. Shares issued to you upon exercise of these Options shall be registered under the Securities Act of 1933, as amended, and shall be freely transferrable. To the extent that the terms of the Stock Option Plan differ from the terms of this Notice of Stock Option Grant (the “Notice”), the terms of this Notice supersede the terms of the Stock Option Plan. By your signature and the signature of the Company’s representative below, you and the Company agree to the terms of these Options. LIGHTLAKE THERAPEUTICS INC. _______________________________________ ________________________________________________ Optionee Xxxxx Xxxxxxx, Chief Executive Officer EXHIBIT B Form of Notice of Exercise of Stock Option Ladies and Gentlemen: This letter constitutes an unconditional and irrevocable notice that I hereby exercise the stock option(s) granted to me by Lightlake Therapeutics Inc., a Nevada corporation (the “Company”) on _______________ at a fair market value of US$ ______ per share. Pursuant to the terms of such option(s), I wish to purchase _______________ shares of the common stock covered by such option(s) at the exercise price(s) of US$ ______ per share via cashless exercise. These shares should be registered under the Securities Act of 1933, as amended, and delivered as follows: Name: Address: Social Security Number: I represent that I will not dispose of such shares in any manner that would involve a violation of applicable securities laws. Dated: ____________________________ By: ____________________________ Name:: ____________________________