<SEC-DOCUMENT>0001144204-16-141648.txt : 20161229
<SEC-HEADER>0001144204-16-141648.hdr.sgml : 20161229
<ACCEPTANCE-DATETIME>20161229080140
ACCESSION NUMBER:		0001144204-16-141648
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20161227
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161229
DATE AS OF CHANGE:		20161229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AntriaBio, Inc.
		CENTRAL INDEX KEY:			0001509261
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				273440894
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-54495
		FILM NUMBER:		162073521

	BUSINESS ADDRESS:	
		STREET 1:		1450 INFINITE DRIVE
		CITY:			LOUISVILLE
		STATE:			CO
		ZIP:			80027
		BUSINESS PHONE:		650-847-1919

	MAIL ADDRESS:	
		STREET 1:		1450 INFINITE DRIVE
		CITY:			LOUISVILLE
		STATE:			CO
		ZIP:			80027

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FITS MY STYLE INC
		DATE OF NAME CHANGE:	20110104
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v455882_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
December 27, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>ANTRIABIO, INC.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of registrant in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Delaware</U></B></FONT></TD>
    <TD STYLE="width: 28%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>000-54495</U></B></FONT></TD>
    <TD STYLE="width: 36%; text-decoration: underline; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>27-3440894</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or jurisdiction</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of incorporation or</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification No.)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">organization)&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">1450 Infinite Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Louisville, CO 80027</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Address of principal
executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(303) 222-2128</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Registrant's
telephone number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Former name or
former address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 97%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement</B><BR>
<B>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 22, 2016, AntriaBio, Inc. (the &ldquo;<B><U>Company</U></B>&rdquo;)
issued a press release announcing the Company&rsquo;s intent to establish an office in the Republic of Korea (&ldquo;<B><U>Korea</U></B>&rdquo;)
as well as to raise capital in Korea and elsewhere (the &ldquo;<B><U>Financing</U></B>&rdquo;). The Company desired to raise at
least $10,000,000 in the Financing and depending upon investor interest as well as potential dilutive effect of the Financing,
the Company would consider raising as much as $50,000,000. In connection with those plans, the Company retained Samsung Securities
as an advisor and in October 2016 began initial discussions with institutional investors. Separately, on October 31, 2016, the
Company&rsquo;s Board of Directors (the &ldquo;<B><U>Board</U></B>&rdquo;) adopted the 2016 Non-Qualified Stock Option Plan (the
&ldquo;<B><U>Plan</U></B>&rdquo;). Pursuant to the Plan, the Board made certain stock option grants to employees of the Company
as well as senior executives (each an &ldquo;<B><U>Executive</U></B>&rdquo;) including options exercisable for up to 9,500,000
shares of the Company&rsquo;s common stock to Nevan Elam, options exercisable for up to 5,000,000 shares of the Company&rsquo;s
common stock to Sankaram Mantripragada, options exercisable for up to 1,000,000 shares of the Company&rsquo;s common stock to Morgan
Fields and options exercisable for up to 8,500,000 shares of the Company&rsquo;s common stock to Hoyoung Huh (collectively, the
&ldquo;<B><U>Grants</U></B>&rdquo;) as more fully described in the Company&rsquo;s Current Report on Form 8-K filed on November
4, 2016 (the &ldquo;<B><U>Prior 8-K</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Grants were made to achieve four specific purposes: (i)
to provide the Executives with an annual refresh grant of equity (the &ldquo;<B><U>Refresh Grants</U></B>&rdquo;), particularly
in light of the more than $17,000,000 of capital raised by the Company in 2016; (ii) in the case of Dr. Mantripragada, to encourage
scientific innovation and the development of additional pipeline candidates; (iii) in the case of Dr. Huh, to replace cash incentives
which were previously in his employment agreement; and (iv) to maintain the Executives&rsquo; beneficial ownership of equity in
the Company in anticipation of the Financing (&ldquo;<B><U>Prospective Refresh Grants</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is customary business practice in Korea to issue all
equity to management prior to a financing rather than after the financing is consummated and the Board elected to follow that
business practice when making the Grants. At the time of the Grants, discussions with potential investors in Korea were
preliminary and exploratory in nature and the magnitude and terms of the Financing were unknown. As a result, the Board
granted the maximum number of options to the Executives assuming $50,000,000 raised in the Financing and the Company deferred
setting specific milestones until the earlier to occur of: (i) a binding commitment from an investor or a better
understanding of the likely magnitude of such a Financing which would allow the Board to further refine the appropriate
number of shares issuable upon the exercise of options pursuant to the Grants, and (ii) December 31, 2016 (in order for the
Company to properly reflect the accounting for the Grants in the same fiscal quarter when the Grants were made).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of December 27, 2016, several investment funds have conducted,
and are continuing to conduct, diligence on the Company&rsquo;s programs and prospects and the Company has begun negotiations regarding
the terms of a potential Financing. Based on current market conditions and non-binding expressions of interest, the Company currently
believes that it may be able to raise as much as $30,000,000 in the Financing. Nonetheless, the Company has not received a binding
commitment from any third party and no assurance can be given that any Financing will occur. In accordance with the Company&rsquo;s
plans to amend the Grants as appropriate prior to the end of the year, on December 27, 2016, the Board determined it to be in the
best interests of the Company and its stockholders to amend the Grants to reflect the anticipated potential size of the Financing
as well as to set forth milestones associated with the Prospective Refresh Grants. The vesting milestones associated with the Grant
provided to Dr. Mantripragda are not related to the Financing and were previously disclosed in the Prior 8-K. Dr. Mantripragda&rsquo;s
option agreement is attached hereto as Exhibit 10.7 and incorporated herein by reference. The details regarding the other Grants
are set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Elam Option Agreements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 9,500,000 options granted to Mr. Elam on October 31,
2016, 3,500,000 are Elam Refresh Options and 3,600,000 are Elam Prospective Refresh Options as more fully described below. Given
the nature of the Company&rsquo;s plans to raise up to $30,000,000, the Board determined it to be in the best interests of the
Company&rsquo;s stockholders to rescind the remaining 2,400,000 options previously granted to Mr. Elam to reflect a $30,000,000
capital raise instead of a $50,000,000 capital raise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Elam Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Mr. Elam entered a Refresh
option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Elam Refresh Option Agreement</U></B>&rdquo;). The
Elam Refresh Option Agreement grants Mr. Elam the option to acquire up to 3,500,000 shares of the Company&rsquo;s common stock
at an exercise price of $1.20 (the per share price when the Board made the grant to Mr. Elam on October 31, 2016) with an expiration
date of October 31, 2026 (the &ldquo;<B><U>Elam Refresh Option</U></B>&rdquo;). The Elam Refresh Option shall vest and become exercisable
with respect to 1/48th of the shares per month beginning October 31, 2016 and ending on the fourth anniversary thereof, at which
time all shares shall be vested; provided, that in no event shall any of the shares vest following the date that Mr. Elam&rsquo;s
services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Elam Prospective Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Mr. Elam entered into
a prospective refresh option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Elam Prospective Option Agreement</U></B>&rdquo;).
The Elam Prospective Option Agreement grants Mr. Elam an option to acquire 3,600,000 shares of the Company&rsquo;s common stock
at an exercise price of $1.20 per share (&ldquo;<B><U>Elam Prospective Refresh Option</U></B>&rdquo;). The Elam Prospective Refresh
Options shall vest, but not yet be exercisable, at a rate of 1,200,000 shares for each $10,000,000 of gross proceeds received by
the Company in a Financing prior to June 30, 2017 (&ldquo;<B><U>Final Close Date</U></B>&rdquo;). To the extent all or any portion
of the Elam Prospective Refresh Option shall have vested prior to the Final Close Date, the vested shares shall be subject to an
additional time-based vesting schedule and shall vest monthly and become exercisable with respect to 1/48th of the shares beginning
as of the Final Close Date and ending on the fourth anniversary thereof, at which time all shares shall be vested; provided, that
in no event shall any of the shares vest following the date that Mr. Elam&rsquo;s services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By way of example, in the event that the Company receives $20,000,000
in gross proceeds in the Financing prior to the Final Close Date, then 2,400,000 shares under the Elam Prospective Refresh Option
shall vest and become exercisable at a rate of 50,000 shares per month beginning on the Final Close Date and the remaining 1,200,000
shares under the Elam Prospective Option Agreement shall lapse and be canceled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Huh Option Agreements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 8,500,000 options granted to Dr. Huh on October
31, 2016, 4,000,000 are Huh Refresh Options and 2,700,000 are Huh Prospective Refresh Options as more fully described below.
Given the nature of the Company&rsquo;s plans to raise up to $30,000,000, the Board determined it to be in the best interests
of the Company&rsquo;s stockholders to rescind the remaining 1,800,000 options previously granted to Dr. Huh to reflect a
$30,000,000 capital raise instead of a $50,000,000 capital raise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Huh Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Dr. Huh entered a Refresh
option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Huh Refresh Option Agreement</U></B>&rdquo;). The Huh
Refresh Option Agreement grants Dr. Huh the option to acquire 4,000,000 shares of the Company&rsquo;s common stock at an exercise
price of $1.20 with an expiration date of October 31, 2026 (the &ldquo;<B><U>Huh Refresh Option</U></B>&rdquo;). The Huh Refresh
Option shall vest and become exercisable with respect to 1/48th of the shares per month beginning October 31, 2016 and ending on
the fourth anniversary thereof, at which time all shares shall be vested; provided, that in no event shall any of the shares vest
following the date that Dr. Huh&rsquo;s services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Huh Prospective Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Dr. Huh entered into a
prospective refresh option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Huh Prospective Refresh Option
Agreement</U></B>&rdquo;). The Huh Prospective Refresh Option Agreement grants Dr. Huh an option to acquire 2,700,000 shares of
the Company&rsquo;s common stock at an exercise price of $1.20 per share (&ldquo;<B><U>Huh Prospective Refresh Option</U></B>&rdquo;).
The Huh Prospective Refresh Options shall vest, but not yet be exercisable, at a rate of 900,000 shares for each $10,000,000 of
gross proceeds received by the Company in a Financing prior to the Final Close Date. To the extent all or any portion of the Huh
Prospective Refresh Option shall have vested prior to the Final Close Date, the vested shares shall be subject to an additional
time-based vesting schedule and shall vest monthly and become exercisable with respect to 1/48th of the shares beginning as of
the Final Close Date and ending on the fourth anniversary thereof, at which time all shares shall be vested; provided, that in
no event shall any of the shares vest following the date that Dr. Huh&rsquo;s services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By way of example, in the event that the Company receives $15,000,000
in gross proceeds in the Financing prior to the Final Close Date, then 900,000 shares under the Huh Prospective Refresh Option
shall vest and become exercisable at a rate of 18,750 shares per month beginning on the Final Close Date. The remaining 1,800,000
Huh Prospective Refresh Options shall lapse and be canceled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Fields Option Agreements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 1,000,000 options granted to Ms. Fields on October 31,
2016, 600,000 are Fields Refresh Options and 240,000 are Fields Prospective Refresh Options as more fully described below. Given the nature of the Company&rsquo;s plans to raise up to $30,000,000, the Board determined it to be in the best interests
of the Company&rsquo;s stockholders to rescind the remaining 160,000 options previously granted to Ms. Fields to reflect a
$30,000,000 capital raise instead of a $50,000,000 capital raise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Fields Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Ms. Fields entered a Refresh
option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Fields Refresh Option Agreement</U></B>&rdquo;). The
Fields Refresh Option Agreement grants Ms. Fields the option to acquire 600,000 shares of the Company&rsquo;s common stock at an
exercise price of $1.20 with an expiration date of October 31, 2026 (the &ldquo;<B><U>Fields Refresh Option</U></B>&rdquo;). The
Fields Refresh Option shall vest and become exercisable with respect to 1/48th of the shares per month beginning October 31, 2016
and ending on the fourth anniversary thereof, at which time all shares shall be vested; provided, that in no event shall any of
the shares vest following the date that Ms. Field&rsquo;s services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Fields Prospective Refresh Option Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 27, 2016, the Company and Ms. Fields entered into
a prospective refresh option agreement in accordance with the terms of the Plan (the &ldquo;<B><U>Fields Prospective Refresh Option
Agreement</U></B>&rdquo;). The Fields Prospective Refresh Option Agreement grants Ms. Fields an option to acquire 240,000 shares
of the Company&rsquo;s common stock at an exercise price of $1.20 per share (&ldquo;<B><U>Fields Prospective Refresh Option</U></B>&rdquo;).
The Fields Prospective Refresh Options shall vest, but not yet be exercisable, at a rate of 80,000 shares for each $10,000,000
of gross proceeds received by the Company in a Financing prior to the Final Close Date. To the extent all or any portion of the
Fields Prospective Refresh Option shall have vested prior to the Final Close Date, the vested shares shall be subject to an additional
time-based vesting schedule and shall vest monthly and become exercisable with respect to 1/48th of the shares beginning as of
the Final Close Date and ending on the fourth anniversary thereof, at which time all shares shall be vested; provided, that in
no event shall any of the shares vest following the date that Ms. Field&rsquo;s services to the Company cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By way of example, in the event that the Company receives $8,000,000
in gross proceeds in the Financing prior to the Final Close Date, then all of the Fields Prospective Refresh Options shall lapse
and be canceled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing is a summary of the material terms of the Elam
Refresh Option, the Elam Prospective Refresh Option, the Huh Refresh Option, the Huh Prospective Refresh Option, the Fields Refresh
Option and the Fields Prospective Refresh Option and is qualified in its entirety by the complete text of the Elam Refresh Option,
the Elam Prospective Refresh Option, the Huh Refresh Option, the Huh Prospective Refresh Option, the Fields Refresh Option and
the Fields Prospective Refresh Option which are attached hereto as Exhibits 10.1, 10.2, 10.3, 10.4, 10.5 and 10.6, respectively
and are incorporated herein by reference to this Item 1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Forward-Looking Statements; Risks and Uncertainties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing reflects the Company&rsquo;s views about the Financing
in Korea, its ability to raise capital in Korea and other matters that constitute &ldquo;forward-looking&rdquo; statements; as
such term is defined by the federal securities laws. You can find many of these statements by looking for words such as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;should,&rdquo;
&ldquo;continue,&rdquo; &ldquo;predict,&rdquo; &ldquo;preliminary&rdquo; and similar words used herein. These forward-looking statements
are subject to the safe harbor protection provided by federal securities laws. These forward-looking statements are subject to
numerous risks, uncertainties and assumptions. These risks and uncertainties include, but are not limited to: (1) interest from
investors in Korea; (2) the amounts raised in any potential financing; (3) the dilutive effect of any potential financing; (4)
the exercisability of any prospective option grants; (6) the ability to conduct a financing in Korea on advantageous terms; (7)
the additional risks and uncertainties and important factors detailed from time to time in the Company&rsquo;s press releases and
in the Company&rsquo;s periodic filings under the Securities Exchange Act of 1934. Although the Company believes the expectations
reflected in such forward-looking statements are based upon reasonable assumptions, because the statements are subject to risks
and uncertainties, the Company can give no assurance that its expectations will be attained or that actual developments and results
will not materially differ from those express or implied by the forward-looking statements. Readers are cautioned not to place
undue reliance on the statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required
by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT</B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elam Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elam Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huh Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huh Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fields Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fields Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mantripragada Option Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ANTRIABIO, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DATE:&nbsp;&nbsp;December 29, 2016</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Morgan Fields</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Morgan Fields</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Accounting Officer&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Exhibit Index</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT</B></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elam Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Elam Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huh Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Huh Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fields Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fields Prospective Refresh Option Agreement</FONT></TD></TR>
<TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mantripragada Option Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v455882_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%">Name of Participant:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 56%; text-decoration: none">Nevan Elam &nbsp;_______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Number of Shares Granted:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: none">3,500,000 ________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Type of Option:</TD>
    <TD>&nbsp;</TD>
    <TD>Non-Qualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exercise Price Per Share:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: none">$1.20 ___________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date of Grant:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: none">December 28, 2016 _________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Vesting Commencecement Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: none">October 31, 2016 ___________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date Exercisable:</TD>
    <TD>&nbsp;</TD>
    <TD>Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP>
    of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth anniversary of the Vesting
    Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest
    following     the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable
    following termination     of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Expiration Date:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: none">October 31, 2026 __________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">PARTICIPANT:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ANTRIABIO, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option</U>. AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;) hereby grants Participant the
option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the &ldquo;<I>Shares</I>&rdquo;)
of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant, subject to the terms and conditions
of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016 Non Qualified Stock Option Plan (the
&ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the Plan will govern. By acceptance of
this grant, Participant and agrees to the terms and conditions of the Plan and this Agreement. The Option will not be treated
as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Agreement, all or part of this Option may be exercised prior to its expiration at the time or times
set forth in the Notice of Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment<FONT STYLE="color: red"></FONT></U>. The Option shall terminate and
may no longer be exercised if Participant ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo;
(as defined in Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the
Code), or Retirement (as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination
exercise the Option to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant
has become disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event
of the Participant&rsquo;s Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such
Option may be exercised at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability
or Retirement by Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person
or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full
number of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option<FONT STYLE="color: red"></FONT></U>. Subject to the foregoing, the Option may be exercised in whole
or in part from time to time by serving written notice to the Company (through the Plan administrator or other means specified
by the Company) stating the number of Shares to be purchased. The notice shall state the number of Shares as to which the Option
is being exercised and shall be accompanied by payment of the exercise price. Such notice must be accompanied by payment in full
of the exercise price for all Shares to be purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired
by you having a Fair Market Value (as defined in the Plan) on the date of exercise that is equal to the exercise price or (iii)
withholding of Shares that would otherwise be issued upon such exercise having a Fair Market Value on the date of exercise equal
to the aggregate exercise price for the Shares for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v455882_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit<FONT STYLE="text-transform: uppercase">
10.2</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Participant:</FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="width: 58%; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevan Elam____________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Number of Shares Granted:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,600,000______________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Type of Option:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Qualified Stock Option</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise Price Per Share:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1.20_________________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date of Grant:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 28, 2016 ______________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vesting Commencement Date:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to the terms set forth herein, this Option shall begin to vest and become exercisable with respect to:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,200,000 Shares upon the closing of a Company financing (a &ldquo;Financing&rdquo;) (i) resulting in gross proceeds of at least $10,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An additional 1,200,000 Shares if such Financing (i) results in gross proceeds of at least $20,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An additional 1,200,000 Shares if such Financing (i) results in gross proceeds of at least $30,000,000 and (i) if such Financing&rsquo;s closing date occurs prior to June 30, 2017.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date Exercisable:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth annual anniversary of the Vesting Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest following the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable following termination of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expiration Date:</FONT></TD>
    <TD STYLE="padding-bottom: 0">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 31, 2026</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non-Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">PARTICIPANT:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">ANTRIABIO, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Print Name</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant of Option</U>. AntriaBio,
Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;) hereby grants Participant the option (the &ldquo;<I>Option</I>&rdquo;)
to purchase all or any part of the number of shares (the &ldquo;<I>Shares</I>&rdquo;) of common stock of the Company at the exercise
price set forth in the Notice of Stock Option Grant, subject to the terms and conditions of this Stock Option Agreement (the &ldquo;Agreement&rdquo;)
and the AntriaBio, Inc. 2016 Non Qualified Stock Option Plan (the &ldquo;Plan&rdquo;). In the event of any conflict between this
Agreement and the Plan, the Plan will govern. By acceptance of this grant, Participant and agrees to the terms and conditions of
the Plan and this Agreement. The Option will not be treated as an incentive stock option within the meaning of Section&nbsp;422
of the Internal Revenue Code of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting of Option Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this
Agreement, all or part of this Option may be exercised prior to its expiration at the time or times set forth in the Notice of
Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the lifetime of Participant,
the Option shall be exercisable only by Participant and shall not be assignable or transferable by Participant, other than by will
or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise of Option after Death
or Termination of Employment</U>. The Option shall terminate and may no longer be exercised if Participant ceases to provide Service
to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;If Participant&rsquo;s
Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo; (as defined in
Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the Code), or Retirement
(as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination exercise the Option
to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;If Participant&rsquo;s
Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;If Participant
shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant has become
disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event of the Participant&rsquo;s
Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such Option may be exercised
at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability or Retirement by
Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person or persons
to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full number
of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method of Exercise of Option</U>.
Subject to the foregoing, the Option may be exercised in whole or in part from time to time by serving written notice to the Company
(through the Plan administrator or other means specified by the Company) stating the number of Shares to be purchased. The notice
shall state the number of Shares as to which the Option is being exercised and shall be accompanied by payment of the exercise
price. Such notice must be accompanied by payment in full of the exercise price for all Shares to be purchased by (i) cash or check,
(ii) delivery of unencumbered Shares previously acquired by you having a Fair Market Value (as defined in the Plan) on the date
of exercise that is equal to the exercise price or (iii) withholding of Shares that would otherwise be issued upon such exercise
having a Fair Market Value on the date of exercise equal to the aggregate exercise price for the Shares for which the Option is
being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Rights of Stockholders</U>.
Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option shall have any of the rights
and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares have been issued in the
name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Right to Employment</U>. Nothing
herein shall be construed as giving Participant the right to continue in the employ or to provide services to the Company or any
affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict in any way the right of the Company
or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise, at any time, with or without
cause. In addition, the Company or any affiliate may discharge the Participant free from any liability or claim under this Agreement,
unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. The validity,
construction and effect of the Agreement shall be determined in accordance with the internal laws, and not the law of conflicts,
of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>. If any provision
of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the
Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable laws, or if it
cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose or intent
of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the Agreement
shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Trust or Fund Created</U>.
The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between
the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>. Headings are given
to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed
in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions Precedent to Issuance
of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and the issuance and delivery
of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the
Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated thereunder, the
requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to the exercise of
the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase price represent
and warrant that the Shares are being purchased only for investment and without any present intention to sell or distribute such
Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>. In order to provide
the Company with the opportunity to claim the benefit of any income tax deduction which may be available to it upon the exercise
of the Option and in order to comply with all applicable federal or state income tax laws or regulations, the Company may take
such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll, withholding, income
or other taxes are withheld or collected from Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v455882_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit<FONT STYLE="text-transform: uppercase">
10.3</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Name of Participant:</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 58%"><FONT STYLE="font-size: 10pt">Hoyoung Huh____________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Total Number of Shares Granted:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">4,000,000_______________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Type of Option:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Non-Qualified Stock Option</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Exercise Price Per Share:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$1.20__________________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Date of Grant:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">December 28, 2016_______________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Vesting Commencecement Date</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">October 31, 2016_________________</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Date Exercisable:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth anniversary of the Vesting Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest following the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable following termination of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Expiration Date:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">October 31, 2026</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">PARTICIPANT:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">ANTRIABIO, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Print Name</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt; text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option</U>. AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;) hereby grants Participant the
option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the &ldquo;<I>Shares</I>&rdquo;)
of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant, subject to the terms and conditions
of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016 Non Qualified Stock Option Plan (the
&ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the Plan will govern. By acceptance of
this grant, Participant and agrees to the terms and conditions of the Plan and this Agreement. The Option will not be treated
as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Agreement, all or part of this Option may be exercised prior to its expiration at the time or times
set forth in the Notice of Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment</U>. The Option shall terminate and may no longer be exercised if Participant
ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;If Participant&rsquo;s
Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo; (as defined in
Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the Code), or Retirement
(as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination exercise the Option
to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;If Participant&rsquo;s
Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;If Participant
shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant has become
disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event of the Participant&rsquo;s
Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such Option may be exercised
at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability or Retirement by
Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person or persons
to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full number
of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option</U>. Subject to the foregoing, the Option may be exercised in whole or in part from time to time by serving
written notice to the Company (through the Plan administrator or other means specified by the Company) stating the number of Shares
to be purchased. The notice shall state the number of Shares as to which the Option is being exercised and shall be accompanied
by payment of the exercise price. Such notice must be accompanied by payment in full of the exercise price for all Shares to be
purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired by you having a Fair Market Value (as
defined in the Plan) on the date of exercise that is equal to the exercise price or (iii) withholding of Shares that would otherwise
be issued upon such exercise having a Fair Market Value on the date of exercise equal to the aggregate exercise price for the Shares
for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: left">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v455882_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit
10.4&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">Name of Participant:</TD>
    <TD STYLE="width: 55%; text-decoration: none; vertical-align: baseline">Hoyoung Huh ______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Number of Shares Granted:</TD>
    <TD>2,700,000______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Type of Option:</TD>
    <TD>Non-Qualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exercise Price Per Share:</TD>
    <TD STYLE="text-decoration: underline"><U STYLE="text-decoration: none; vertical-align: baseline">$1.20</U> ______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date of Grant:</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">December 28, 2016______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Vesting Commencement Date:</TD>
    <TD>Subject to the terms set forth herein, this Option shall begin to vest and become exercisable with respect to:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>900,000 Shares upon the closing of a Company financing (a &ldquo;Financing&rdquo;) (i) resulting in gross proceeds of at least $10,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>An additional 900,000 Shares if such Financing (i) results in gross proceeds of at least $20,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>An additional 900,000 Shares if such Financing (i) results in gross proceeds of at least $30,000,000 and (i) if such Financing&rsquo;s closing date occurs prior to June 30, 2017.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date Exercisable:</TD>
    <TD>Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth annual anniversary of the Vesting Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest following the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable following termination of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Expiration Date:</TD>
    <TD>October 31, 2026</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non-Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>PARTICIPANT:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ANTRIABIO, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">By: </TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option.</U> &nbsp;&nbsp;&nbsp; AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;) hereby grants
Participant the option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the &ldquo;<I>Shares</I>&rdquo;)
of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant, subject to the terms and conditions
of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016 Non Qualified Stock Option Plan (the
&ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the Plan will govern. By acceptance of
this grant, Participant and agrees to the terms and conditions of the Plan and this Agreement. The Option will not be treated
as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Agreement, all or part of this Option may be exercised prior to its expiration at the time or times
set forth in the Notice of Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment</U>. &nbsp;<U> </U>The Option shall terminate and may no longer be exercised
if Participant ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo;
(as defined in Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the
Code), or Retirement (as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination
exercise the Option to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant
has become disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event
of the Participant&rsquo;s Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such
Option may be exercised at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability
or Retirement by Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person
or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full
number of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option<FONT STYLE="color: red"></FONT></U>. Subject to the foregoing, the Option may be exercised in whole
or in part from time to time by serving written notice to the Company (through the Plan administrator or other means specified
by the Company) stating the number of Shares to be purchased. The notice shall state the number of Shares as to which the Option
is being exercised and shall be accompanied by payment of the exercise price. Such notice must be accompanied by payment in full
of the exercise price for all Shares to be purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired
by you having a Fair Market Value (as defined in the Plan) on the date of exercise that is equal to the exercise price or (iii)
withholding of Shares that would otherwise be issued upon such exercise having a Fair Market Value on the date of exercise equal
to the aggregate exercise price for the Shares for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>v455882_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Name of Participant:</TD>
    <TD STYLE="width: 50%; text-decoration: none; vertical-align: baseline">Morgan Fields__________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Number of Shares Granted:</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">600,000____________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Type of Option:</TD>
    <TD>Non-Qualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exercise Price Per Share:</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">$1.20____________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date of Grant:</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">December 28, 2016__________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Vesting Commencecement Date</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">October 31, 2016________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date Exercisable:</TD>
    <TD>Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth anniversary of the Vesting Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest following the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable following termination of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Expiration Date:</TD>
    <TD STYLE="text-decoration: none; vertical-align: baseline">October 31, 2026____________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>PARTICIPANT:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ANTRIABIO, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">By: </TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option</U>. AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;) hereby grants Participant the
option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the &ldquo;<I>Shares</I>&rdquo;)
of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant, subject to the terms and conditions
of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016 Non Qualified Stock Option Plan (the
&ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the Plan will govern. By acceptance of this
grant, Participant and agrees to the terms and conditions of the Plan and this Agreement. The Option will not be treated as an
incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Agreement,
all or part of this Option may be exercised prior to its expiration at the time or times set forth in the Notice of Stock Option
Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment</U>. The Option shall terminate and may no longer be exercised if Participant
ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo;
(as defined in Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the
Code), or Retirement (as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination
exercise the Option to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant
has become disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event
of the Participant&rsquo;s Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such
Option may be exercised at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability
or Retirement by Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person
or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full
number of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option</U>. Subject to the foregoing, the Option may be exercised in whole or in part from time to time by serving
written notice to the Company (through the Plan administrator or other means specified by the Company) stating the number of Shares
to be purchased. The notice shall state the number of Shares as to which the Option is being exercised and shall be accompanied
by payment of the exercise price. Such notice must be accompanied by payment in full of the exercise price for all Shares to be
purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired by you having a Fair Market Value (as
defined in the Plan) on the date of exercise that is equal to the exercise price or (iii) withholding of Shares that would otherwise
be issued upon such exercise having a Fair Market Value on the date of exercise equal to the aggregate exercise price for the Shares
for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>v455882_ex10-6.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">Name of Participant:</TD>
    <TD STYLE="width: 55%; text-decoration: none">Morgan Fields _________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Number of Shares Granted:</TD>
    <TD>240,000______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Type of Option:</TD>
    <TD>Non-Qualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exercise Price Per Share:</TD>
    <TD STYLE="text-decoration: none">$1.20 _______________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date of Grant:</TD>
    <TD STYLE="text-decoration: none">December 28, 2016 ______________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Vesting Commencement Date:</TD>
    <TD>Subject to the terms set forth herein, this Option shall begin to vest and become exercisable with respect to:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>80,000 Shares upon the closing of a Company financing (a &ldquo;Financing&rdquo;) (i) resulting in gross proceeds of at least $10,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>An additional 80,000 Shares if such Financing (i) results in gross proceeds of at least $20,000,000 and (ii) if such Financing&rsquo;s closing date occurs prior to June 30, 2017; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>An additional 80,000 Shares if such Financing (i) results in gross proceeds of at least $30,000,000 and (i) if such Financing&rsquo;s closing date occurs prior to June 30, 2017.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date Exercisable:</TD>
    <TD>Subject to the terms set forth herein, this Option shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of the Vesting Commencement Date ending on the fourth annual anniversary of the Vesting Commencement Date, at which time the full Option shall be vested; <I>provided</I> that in no event shall the Option vest following the date Participant&rsquo;s Service ceases. Any vested portion of the Option shall only be exercisable following termination of Participant&rsquo;s Service as provided in Section 3 of the Stock Option Agreement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Expiration Date:</TD>
    <TD STYLE="text-decoration: none">October 31, 2026 ______________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non-Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>PARTICIPANT:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ANTRIABIO, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option<FONT STYLE="color: red"></FONT></U>. AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;)
hereby grants Participant the option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the
&ldquo;<I>Shares</I>&rdquo;) of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant,
subject to the terms and conditions of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016
Non Qualified Stock Option Plan (the &ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the
Plan will govern. By acceptance of this grant, Participant and agrees to the terms and conditions of the Plan and this Agreement.
The Option will not be treated as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code
of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Agreement, all or part of this Option may be exercised prior to its expiration at the time or times
set forth in the Notice of Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment<FONT STYLE="color: red"></FONT></U>. The Option shall terminate and
may no longer be exercised if Participant ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo;
(as defined in Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the
Code), or Retirement (as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination
exercise the Option to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant
has become disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event
of the Participant&rsquo;s Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such
Option may be exercised at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability
or Retirement by Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person
or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full
number of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option<FONT STYLE="color: red"></FONT></U>. Subject to the foregoing, the Option may be exercised in whole
or in part from time to time by serving written notice to the Company (through the Plan administrator or other means specified
by the Company) stating the number of Shares to be purchased. The notice shall state the number of Shares as to which the Option
is being exercised and shall be accompanied by payment of the exercise price. Such notice must be accompanied by payment in full
of the exercise price for all Shares to be purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired
by you having a Fair Market Value (as defined in the Plan) on the date of exercise that is equal to the exercise price or (iii)
withholding of Shares that would otherwise be issued upon such exercise having a Fair Market Value on the date of exercise equal
to the aggregate exercise price for the Shares for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>v455882_ex10-7.htm
<DESCRIPTION>EXHIBIT 10.7
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.7</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock option PLAN<BR>
NOTICE OF STOCK OPTION GRANT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You have been granted the following option
to purchase Shares of AntriaBio, Inc. (the &ldquo;Company&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">Name of Participant:</TD>
    <TD STYLE="width: 55%; text-decoration: none">Sankaram Mantripragada</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Total Number of Shares Granted:</TD>
    <TD>5,000,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Type of Option:</TD>
    <TD>Non-Qualified Stock Option</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exercise Price Per Share:</TD>
    <TD>$1.20</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date of Grant:</TD>
    <TD>December 28, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Vesting Commencement Dates:</TD>
    <TD>Subject to the terms set forth herein, this Option shall begin to vest and become exercisable with respect to the three tranches described below as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>1,000,000 Shares thirty (30) days following the date the Company files an IND for AB101, provided that the FDA shall not have imposed a clinical hold with respect to the planned clinical study for AB101;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>2,000,000 Shares upon the date the Company requests a pre-IND meeting with the FDA on a new pipeline candidate, as determined by the Board in its sole discretion; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>2,000,000 Shares upon the date the Company requests a pre-IND meeting with the FDA on an additional new pipeline candidate, as determined by the Board in its sole discretion.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date Exercisable:</TD>
    <TD>Subject to the terms set forth herein, each tranche of the Option identified above shall vest and become exercisable with respect to 1/48<SUP>th</SUP> of the Shares upon each monthly anniversary of its respective Vesting Commencement Date ending on the fourth annual anniversary of the Vesting Commencement Date, at which time the full tranche shall be vested.&nbsp;&nbsp;Notwithstanding the above <FONT STYLE="font-size: 10pt">and any language to the contrary in any other document including an employment agreement</FONT>, upon the occurrence of a Change in Control, 30% of the then-unvested Shares subject to the Option shall vest and become exercisable.&nbsp;&nbsp;In no event shall the Option vest following the date Participant&rsquo;s Service ceases.&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Expiration Date:</TD>
    <TD>October 31, 2026</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">By your signature and the signature of the Company&rsquo;s representative
below, you and the Company agree that this option is granted under and governed by the terms and conditions of the 2016 Non-Qualified
Stock Option Plan and the related Stock Option Agreement, both of which are made a part of this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>PARTICIPANT:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">ANTRIABIO, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Print Name</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ANTRIABIO,
INC.<BR>
2016 Non Qualified Stock Option Plan<BR>
STOCK OPTION AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant
of Option<FONT STYLE="color: red"></FONT></U>. AntriaBio, Inc., a Delaware<B> </B>corporation (the &ldquo;<I>Company</I>&rdquo;)
hereby grants Participant the option (the &ldquo;<I>Option</I>&rdquo;) to purchase all or any part of the number of shares (the
&ldquo;<I>Shares</I>&rdquo;) of common stock of the Company at the exercise price set forth in the Notice of Stock Option Grant,
subject to the terms and conditions of this Stock Option Agreement (the &ldquo;Agreement&rdquo;) and the AntriaBio, Inc. 2016
Non Qualified Stock Option Plan (the &ldquo;Plan&rdquo;). In the event of any conflict between this Agreement and the Plan, the
Plan will govern. By acceptance of this grant, Participant and agrees to the terms and conditions of the Plan and this Agreement.
The Option will not be treated as an incentive stock option within the meaning of Section&nbsp;422 of the Internal Revenue Code
of 1986, as amended (the &ldquo;<I>Code</I>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Option shall terminate at the close
of business ten years from the date hereof (the &ldquo;Expiration Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting
of Option Rights<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in this Agreement, all or part of this Option may be exercised prior to its expiration at the time or times
set forth in the Notice of Stock Option Grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the lifetime of Participant, the Option shall be exercisable only by Participant and shall not be assignable or transferable by
Participant, other than by will or the laws of descent and distribution, or as may be permitted pursuant to Section 6(b)(v) of
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Agreement, &ldquo;<I>Change in Control&rdquo; </I>shall mean:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the &ldquo;Exchange Act&rdquo;)) (an &ldquo;Acquiring Person&rdquo;) of beneficial ownership of any capital
stock of the Company if, after such acquisition, such Acquiring Person beneficially owns (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) 50% or more of either (i) the then-outstanding shares of common stock of the Company (the &ldquo;Outstanding
Company Common Stock&rdquo;) or (ii) the combined voting power of the then-outstanding securities of the Company entitled to vote
generally in the election of directors (the &ldquo;Outstanding Company Voting Securities&rdquo;); provided, however, that for purposes
of this subsection (i), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from
the Company, (B) any acquisition by the Company or (C) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by the Company or any corporation controlled by the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving the Company or
a sale or other disposition of all or substantially all of the assets of the Company (a &ldquo;Business Combination&rdquo;), unless,
immediately following such Business Combination, all or substantially all of the individuals and entities who were the beneficial
owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting
power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting
or acquiring corporation in such Business Combination in substantially the same proportions as their ownership, immediately prior
to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Option after Death or Termination of Employment<FONT STYLE="color: red"></FONT></U>. The Option shall terminate and
may no longer be exercised if Participant ceases to provide Service to the Company or its Affiliates, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service shall be terminated for any reason, voluntary or involuntary, other than for &ldquo;<I>Cause</I>&rdquo;
(as defined in Section&nbsp;3(e)), Participant&rsquo;s death or disability (within the meaning of Section&nbsp;22(e)(3) of the
Code), or Retirement (as defined in Section 3(f)), Participant may at any time within a period of 3 months after such termination
exercise the Option to the extent the Option was exercisable by Participant on the date of the termination of Participant&rsquo;s
employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant&rsquo;s Service is terminated for Cause, the Option shall be terminated as of the date of the act giving rise to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Participant shall die while the Option is still exercisable according to its terms, if Service is terminated because Participant
has become disabled (within the meaning of Section&nbsp;22(e)(3) of the Code) while in Service of the Company, or in the event
of the Participant&rsquo;s Retirement (as defined in Section 3(f)) and Participant shall not have fully exercised the Option, such
Option may be exercised at any time within 12 months after Participant&rsquo;s death or date of termination of Service for disability
or Retirement by Participant, personal representatives or administrators or guardians of Participant, as applicable or by any person
or persons to whom the Option is transferred by will or the applicable laws of descent and distribution, to the extent of the full
number of Shares Participant was entitled to purchase under the Option on the earlier of the (i) date of death or (i) date of termination
of Service for disability or Retirement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, in no case may the Option be exercised to any extent by anyone after the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Cause</I>&rdquo;
shall mean (i)&nbsp;the willful and continued failure by Participant substantially to perform his or her duties and obligations
(other than any such failure resulting from his or her incapacity due to physical or mental illness), (ii)&nbsp;Participant&rsquo;s
conviction or plea bargain of any felony or gross misdemeanor involving moral turpitude, fraud or misappropriation of funds or
(iii)&nbsp;the willful engaging by Participant in misconduct which causes substantial injury to the Company or its Affiliates,
its employees or the employees of its Affiliates or its clients or the clients of its Affiliates, whether monetarily or otherwise.
For purposes of this paragraph, no action or failure to act on Participant&rsquo;s part shall be considered &ldquo;<I>willful</I>&rdquo;
unless done or omitted to be done, by Participant in bad faith and without reasonable belief that his or her action or omission
was in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Retirement</I>&rdquo;
shall mean termination of Participant&rsquo;s Service on or after the date Participant attains age 65; <I>provided</I> that, if
Participant terminates due to Retirement but continues to serve as a director of the Company, such Optionee&rsquo;s Service with
the Company shall be deemed not to have terminated for purposes of this Agreement and the Plan until the date as of which Participant&rsquo;s
services as a director of the Company shall also have terminated, at which time Participant shall be deemed to have terminated
Service as a result of Retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<I>Service</I>&rdquo;
shall mean Participant&rsquo;s performance of services for the Company (or any Affiliate) in the capacity of an employee, officer,
consultant, independent contractor, advisor or non-employee director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Method
of Exercise of Option<FONT STYLE="color: red"></FONT></U>. Subject to the foregoing, the Option may be exercised in whole
or in part from time to time by serving written notice to the Company (through the Plan administrator or other means specified
by the Company) stating the number of Shares to be purchased. The notice shall state the number of Shares as to which the Option
is being exercised and shall be accompanied by payment of the exercise price. Such notice must be accompanied by payment in full
of the exercise price for all Shares to be purchased by (i) cash or check, (ii) delivery of unencumbered Shares previously acquired
by you having a Fair Market Value (as defined in the Plan) on the date of exercise that is equal to the exercise price or (iii)
withholding of Shares that would otherwise be issued upon such exercise having a Fair Market Value on the date of exercise equal
to the aggregate exercise price for the Shares for which the Option is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous<FONT STYLE="color: red"></FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Rights of Stockholders</U>. Neither Participant, Participant&rsquo;s legal representative nor a permissible assignee of this Option
shall have any of the rights and privileges of a stockholder of the Company with respect to the Shares, unless and until such Shares
have been issued in the name of Participant, Participant&rsquo;s legal representative or permissible assignee, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Right to Employment</U>. Nothing herein shall be construed as giving Participant the right to continue in the employ or to provide
services to the Company or any affiliate, whether as an employee or as a consultant or otherwise, or interfere with or restrict
in any way the right of the Company or any affiliate to discharge the Participant, whether as an employee or consultant or otherwise,
at any time, with or without cause. In addition, the Company or any affiliate may discharge the Participant free from any liability
or claim under this Agreement, unless otherwise expressly provide herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. The validity, construction and effect of the Agreement shall be determined in accordance with the internal laws, and not
the law of conflicts, of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If any provision of the Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would
disqualify the Agreement under any applicable law, such provision shall be construed or deemed amended to conform to applicable
laws, or if it cannot be so construed or deemed amended without, in the determination of the Company, materially altering the purpose
or intent of the Agreement, such provision shall be stricken as to such jurisdiction or the Agreement, and the remainder of the
Agreement shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Trust or Fund Created</U>. The Agreement shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company and Participant or any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
Headings are given to the Sections and subsections of the Agreement solely as a convenience to facilitate reference. Such headings
shall not be deemed in any way material or relevant to the construction or interpretation of the Agreement or any provision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
Precedent to Issuance of Shares</U>. Shares shall not be issued pursuant to the exercise of the Option unless such exercise and
the issuance and delivery of the applicable Shares pursuant thereto shall comply with all relevant provisions of law, including,
without limitation, the Securities Act of 1933, as amended, the Exchange Act of 1934, as amended, the rules and regulations promulgated
thereunder, the requirements of any applicable Stock Exchange and the<B> </B>Delaware General Corporation Law. As a condition to
the exercise of the purchase price relating to the Option, the Company may require that the person exercising or paying the purchase
price represent and warrant that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation and warranty is required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>.
In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to
it upon the exercise of the Option and in order to comply with all applicable federal or state income tax laws or regulations,
the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state payroll,
withholding, income or other taxes are withheld or collected from Participant.</P>

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