Cellular Dynamics International, Inc. University Research Park Madison, WI 53711Cellular Dynamics International, Inc. • May 5th, 2014 • Biological products, (no disgnostic substances)
This letter (when fully executed and delivered by you as contemplated below, this “Agreement”) will confirm our understanding, effective as of the date hereof first written above (the “Effective Date”), regarding the amendment of the Consulting Agreement and the 2010 Letter Agreement in connection with, and as consideration for, the grant to you of an option for the purchase of 90,000 shares of the Company’s common stock (“Common Stock”) under the Company’s 2013 Equity Incentive Plan (the “Plan”), as further described in this paragraph. Such option grant would be made on the Effective Date subject to the condition for the benefit of the Company that the 2010 Letter Agreement be amended as set forth herein, and such option would provide for an exercise price per share equal to the Fair Market Value (as defined in the Plan) on the Effective Date. The “2014 Option Grant” means option grant described above in this paragraph.
