NOVAN, INC. STOCK OPTION GRANT NOTICE AND STOCK OPTION AGREEMENT (Awarding Non- Qualified Stock Option)Stock Option Agreement • August 8th, 2018 • Novan, Inc. • Pharmaceutical preparations • Delaware
The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Novan, Inc., a Delaware corporation (the “Company”), pursuant to Nasdaq Listing Rule 5635(c)(4) and not under any equity incentive plan of the Company, hereby grants to the holder listed below (“Holder”) this Non-Qualified Stock Option to purchase the number of shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”) set forth below (the “Option”). The Option is subject to the terms and conditions set forth in this Stock Option Grant Notice (this “Grant Notice”) and the Stock Option Agreement attached hereto as Exhibit A (the “Agreement”), which is incorporated herein by reference, and the grant of the Option is conditioned upon Holder’s compliance with any Confidentiality and Assignment of Inventions Agreement and/or Noncompetition Agreement existing or entered into in connection herewith (the “Restrictive Covenants Agreement[s]”).
