november 3, 2011 jennifer harris, ph. d. 4430 sun valley drive durham, nc dear jennifer, on behalf of heat biologics, inc. ( “ heat ” ), i am pleased to extend an offer of employment to you as senior director of clinical development under the following terms and conditions : 1. start date : december 1, 2011 2. base salary of $ 150, 000 per year, payable bi - weekly. 3. heat has granted you 50, 000 ten - year options to purchase common stock in heat biologics at the most recent fair market value for heat ’ s common stock as determined by the heat ’ s board, which we estimate to be $ 0. 28 per share. these options will vest quarterly over a 4 year period. 4. three weeks vacation per year plus 5 days sick leave plus standard national holidays. 5. you will be required to sign a confidentiality agreement as well as an assignment of inventions agreement provided in appendix a. 6. heat will hold you harmless for any activities you perform within the scope of your employment. please acknowledge your acceptance of this offer by your signature below. i am very enthused at having you on board and very much look forward to working with you to build a truly exciting new venture! sincerely, jeff wolf ceo heat biologics, inc. agreed and accepted, jennifer harris, ph. d. appendix a confidential information and assignment of inventions all developments ( as defined below ), whether or not reduced to writing, which the employee may originate, make or conceive during the term of his employment and for a period of one ( 1 ) month thereafter, either alone or with others and whether or not during working hours or by the use of facilities of the corporation shall immediately become the sole and absolute property of the corporation. the term “ development ” shall mean any invention, modification, discovery, design, development, improvement, process, software program, work of authorship, documentation, formula, data, technique, know - how, trade secret or intellectual property right whatsoever or any interest therein ( whether or not patentable or registrable under copyright, trademark or similar statutes ). the employee agrees to disclose promptly to the corporation ( or any persons designated by it ) each such development. the employee hereby assigns all rights ( including, but not limited to, rights to inventions, patentable subject matter, copyrights and trademarks ) that he may have or may acquire in the developments