Amendment No. 1 to Employment Agreement entered into as of March 6, 2024 between Registrant and Brian M. Culley

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

This Amendment No. 1 to Employment Agreement (this “Amendment No. 1”) is entered into as of March 6, 2024, Lineage Cell Therapeutics, Inc., a California corporation (together with any successor in interest thereto that has assumed its rights and obligations hereunder, whether by operation of law or otherwise, “Company”), and Brian Michael Culley (“Executive”).

WHEREAS, the Company and Executive are parties to that certain amended and restated employment agreement made as of September 26, 2022 (the “Original Agreement”).

WHEREAS, the Company and Executive desire to amend the Original Agreement as stated herein and effective as of the date first set forth above (the “Effective Date”).

NOW, THEREFORE, in consideration of the agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

provided that if Executive’s target bonus for such year has not been set at the time Executive’s employment is so terminated, the amount of Executive’s target bonus for the immediately preceding year shall be deemed to be the target bonus for the year in which Executive’s employment is so terminated; provided further, that if Executive has not been paid Executive’s bonus for the immediately preceding year at the time Executive’s employment is so terminated solely because Executive’s employment is terminated before the date on which such bonus otherwise would be paid, Executive shall also receive a payment equal to 100% of Executive’s target bonus for such preceding year;

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IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 as of the date first written above.