THIS OPTION HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 , AS
AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR
OTHERWISE TRANSFERRED UNLESS REGISTERED PURSUANT TO APPLICABLE
PROVISIONS OF FEDERAL AND STATE SECURITIES LAWS OR EXEMPT FROM THE
REGISTRATION REQUIREMENTS THEREOF.
AMENDED AND RESTATED
GENEREX BIOTECHNOLOGY CORPORATION
2006 STOCK PLAN
INCENTIVE STOCK OPTION GRANT
This STOCK OPTION GRANT , dated as of March 9, 2010 (the “ Date of Grant ”), is delivered by
Generex Biotechnology Corporation (the “ Company ”) to ROSE C. PERRI , an employee of the Company
(the “ Grantee ”).
A. The Amended and Restated Generex Biotechnology Corporation 2006 Stock Plan (the “ Plan
”) provides for the grant of options to purchase shares of common stock of the Company. The Board of
Directors of the Company (the “ Board ”) has decided to make a stock option grant as an inducement for the
Grantee to promote the best interests of the Company and its stockholders. A copy of the Plan is attached as
Exhibit A to this Agreement. Capitalized terms used in this Agreement and not otherwise defined shall have the
meanings assigned such terms in the Plan.
B. The Board is authorized to appoint a committee or individual to administer the Plan. If a
committee or individual is appointed, all references in this Agreement to the “Board” shall be deemed to refer to
the committee or individual.
NOW, THEREFORE, the parties to this Agreement, intending to be legally bound hereby, agree as
1. Grant of Option .
(a) Subject to the terms and conditions set forth in this Agreement and in the Plan, the Company
hereby grants to the Grantee an incentive stock option (the “ Option ”) to purchase up to FOUR HUNDRED
THOUSAND (400,000) shares of common stock of the Company (“ Shares ”) at an exercise price of $0.64
per Share. The Option shall become exercisable according to Paragraph 2 below.