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EXHIBIT 10.1
[LOGO OMITTED]
2005 STOCK
PLAN
OPTION CERTIFICATE |
| This
Certificate, when executed by an Administrator of the 2005 Stock
Plan of Palatin Technologies, Inc. (the “Company”),
evidences the grant to the Employee named below of an Option to
purchase shares of the Common Stock of the Company. |
| 1. |
|
Name of Employee: «First_Name»
«Last_Name» (“Employee”)
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| 2. |
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Maximum number of shares for which this option is exercisable:
«ofoptions»
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| 3. |
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Purchase Price Per Share: $ «OptionPrice» per
share
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| 4. |
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Date of Grant: «GrantDate»
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| 5. |
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Expiration Date of Option:
«ExpirationDate»
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| 6. |
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Type of Grant: Incentive Stock Option to the full extent
allowed under Section 422 of the United States Internal
Revenue Code of 1986, as amended, and to the extent not allowed
(including as required to a portion of the shares), a non-qualified
option.
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| 7. |
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Vesting Schedule: This option shall become exercisable (and the
shares issued upon exercise shall be vested) in 4 equal
ann
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