Exhibit 10.18


 


POINT Biopharma
global inc.


 


indemnification
agreement


 


	Indemnitee:	 
	Effective Date:	 


 


Effective as of the Effective
Date, Indemnitee and POINT Biopharma Global Inc., a Delaware corporation (“Company”), enter into this Indemnification
Agreement (the “Agreement”).


 


WHEREAS, highly competent
persons have become more reluctant to serve corporations as directors or officers or in other capacities unless they are provided with
adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising
out of such service;


 


WHEREAS, the Board of Directors
of the Company (the “Board”) has determined that current indemnification protections available to directors and officers
pursuant to the Company’s certificate of incorporation and bylaws, and pursuant to the Delaware General Corporation Law, as amended
(“DGCL”), are inadequate to attract and retain highly competent persons for such roles;


 


WHEREAS, the Board has determined
that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s stockholders
and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;


 


WHEREAS, it is reasonable,
prudent and necessary for the Company to obligate itself contractually to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that
they will not be so indemnified;


 


WHEREAS, Indemnitee does not
regard the protection available under the Company’s certificate of incorporation and bylaws as adequate in the present circumstances
and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in
such capacity; and


 


WHEREAS, Indemnitee is willing
to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified.


 


NOW, THEREFORE, in consideration
of Indemnitee’s agreement to serve as an officer and/or director from and after the date hereof, the parties hereto agree as follows:


 


1.                  
Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted
by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof.


 


(a)                Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section 1(a) if, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or
participant in any Proceeding other than a Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee
shall be indemnified against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably
incurred by Indemnitee, or on Indemnitee’s behalf, in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe Indemnitee’s conduct was
unlawful.


 






     


     


    

 


(b)               
Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in
this Section 1(b) if, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant
in any Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against all
Expenses actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, in connection with such Proceeding if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided,
however, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or
matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the
Court of Chancery of the State of Delaware shall determine that such indemnification may be made.


 


(c)               
Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits
or otherwise, in any Proceeding, Indemnitee shall be indemnified to the maximum extent permitted by law against all Expenses actually
and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful
in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section and without limitation, Indemnitee
will be deemed to have successfully resolved any Proceeding or any claim, issue or matter therein, if such Proceeding or any claim, issue
or matter therein is terminated by dismissal (with or without prejudice), motion for summary judgment, settlement (with or without court
approval), or upon a plea of nolo contendere or its equivalent.


 


2.                 Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided in Section 1 of this Agreement,
the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts
paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf if, by reason of Indemnitee’s
Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by
or in the right of the Company), including, without limitation, all liability arising out of the negligence or active or passive wrongdoing
of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the
Company shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures, and subject to the
presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.


 


3.                  
Contribution.


 


(a)                To
the fullest extent permissible under applicable law, if the indemnification provided in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee,
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light
of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and
Indemnitee as a result of the indemnifiable event giving cause to such Proceeding and/or (ii) the relative fault of the Company
(and its directors, officers, employees and agents) and Indemnitee in connection with such indemnifiable event; provided, however,
that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted
by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who
are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and
Indemnitee, on the other hand, in connection with the indemnifiable event that resulted in such Expenses, judgments, fines or
settlement amounts, as well as any other equitable considerations which applicable law may require to be considered. The relative
fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be
determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit
or advantage, the degree to which their liability is primary or secondary and the degree to which their conduct is active or
passive.


 


(b)               
The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought
by officers, directors, or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.


 






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4.                  
Indemnification for Expenses of a Witness or Deponent. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or deponent, or is made (or asked) to respond to discovery
requests, in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.


 


5.                  
Advancement of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred
by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within 30 days after
the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether
prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by
Indemnitee. Advances shall include any and all reasonable Expenses incurred pursuing a Proceeding to enforce this right of advancement,
including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. Without limiting the generality
or effect of the foregoing, within 30 days after any request by Indemnitee, the Company shall, in accordance with such request (but without
duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses,
or (c) reimburse Indemnitee for such Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and
interest free. Advances shall be made without regard to Indemnitee’s (i) ability to repay the Expenses, (ii) ultimate entitlement
to indemnification under the other provisions of this Agreement, and (iii) entitlement to and availability of insurance coverage, including
advancement, payment or reimbursement of defense costs, expenses of covered loss under the provisions of any applicable insurance policy
(including, without limitation, whether such advancement, payment or reimbursement is withheld, conditioned or delayed by the insurer(s)).
Indemnitee hereby undertakes to repay any and all of the amount of Expenses paid to Indemnitee if it is finally determined by a court
of competent jurisdiction that Indemnitee is not entitled under this Agreement to indemnification with respect to such Expenses. No other
form of undertaking shall be required other than the execution of this Agreement. The right to advances under this Section 5 shall in
all events continue until final disposition of any Proceeding, including any appeal therein. The Company shall not seek from a court,
or agree to, a "bar order" which would have the effect of prohibiting or limiting the Indemnitee's rights to receive advancement
of expenses under this Agreement.


 


6.                   Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for
Indemnitee rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether
Indemnitee is entitled to indemnification under this Agreement:


 


(a)               
To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request. The Secretary of the
Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested
indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to the Company, or to provide such
a request in a timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent
that, such failure actually and materially prejudices the interests of the Company.


 






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(b)               
Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination with
respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods, which shall
be at the election of Indemnitee: (1) by a majority vote of the Disinterested Directors, even though less than a quorum, (2) by a committee
of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum, (3) if there
are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board,
a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board, by the stockholders of the Company. Notwithstanding
the foregoing, if there has been a Change in Control of the Company, then Independent Counsel shall determine whether Indemnitee is entitled
to indemnification.


 


(c)               
If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof,
the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by the Board,
and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. Indemnitee
may, within 10 days after such written notice of selection has been given, deliver to the Company a written objection to such selection;
provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does
not meet the requirements of “Independent Counsel” as defined in Section 13(i) hereof, and the objection shall
set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act
as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent
Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days
after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel has been
selected without objection, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or other court
of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company’s selection
of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as
the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as
Independent Counsel under Section 6(b) hereof. The Company agrees to pay the reasonable fees of the Independent Counsel incurred
in connection with acting pursuant to Section 6(b) hereof and to fully indemnify such Independent Counsel against any and all expenses,
claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. The Company shall pay
all reasonable fees and expenses incident to the procedures of this Section 6(c), regardless of the manner in which such Independent
Counsel was selected or appointed.


 


(d)                In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such
determination shall, to the fullest extent not prohibited by applicable law, presume that Indemnitee is entitled to indemnification
under this Agreement. Anyone seeking to overcome this presumption shall, to the fullest extent not prohibited by applicable law,
have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company
(including by its directors or Independent Counsel) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met
the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.


 






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(e)               
Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based (i) on the records or books of
account of the Enterprise, including financial statements, (ii) on information supplied to Indemnitee by the officers of the Enterprise
in the course of their duties, (iii) on the advice of legal counsel for the Enterprise, or (iv) on information or records given or
reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable
care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the
Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or
not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times
acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. Anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.


 


(f)                
If the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within 60 days after receipt by the Company of the request therefor, the requisite determination of
entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law
as determined by a court of competent jurisdiction in a final adjudication not subject to further appeal; provided, however,
that such 60 day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person, persons or entity making
such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation
and/or information relating thereto; and provided, further, that the foregoing provisions of this Section 6(f) shall not
apply if the determination of entitlement to indemnification is (A) to be made by the stockholders pursuant to Section 6(b) of this
Agreement and if (1) within 15 days after receipt by the Company of the request for such determination, the Board or the Disinterested
Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting thereof
to be held within 75 days after such receipt and such determination is made thereat, or (2) a special meeting of stockholders is called
within 15 days after such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after
having been so called and such determination is made thereat or (B) unreasonably delayed or prevented by Indemnitee’s failure
to provide the documentation or information required by Section 6(g) below.


 


(g)                Indemnitee
shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to
indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act
reasonably and in good faith in making a determination regarding the Indemnitee’s entitlement to indemnification under this
Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with
the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless
therefrom.


 






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(h)               
The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party
to avoid expense, delay, distraction, disruption and uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved
in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding
with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise
in such Proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and
convincing evidence.


 


(i)                
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon
a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.


 


7.                  
Remedies of Indemnitee.


 


(a)               
In the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination
of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within 90 days after receipt by the Company
of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within 10 days after receipt
by the Company of a written request therefor, or (v) payment of indemnification is not made within 10 days after a determination has been
made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6 of this
Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of
competent jurisdiction, of Indemnitee’s entitlement to such indemnification. Indemnitee shall commence such proceeding seeking an
adjudication within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a).
The Company shall not oppose Indemnitee’s right to seek any such adjudication.


 


(b)               
In the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo
trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).


 


(c)               
If a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement
by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading
in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law.


 


(d)                The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is
bound by all the provisions of this Agreement. Subject to the provisions of Section 5, the
Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within 30 days after receipt
by the Company of a written request therefore) advance, to the extent not prohibited by law, such expenses to Indemnitee, which are
incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the
Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the
Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses
or insurance recovery, as the case may be. 


 


(e)               
Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement
shall be made prior to the final disposition of the Proceeding.


 






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8.                  
Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.


 


(a)               
The rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the Company’s certificate of incorporation, the Company’s bylaws, any agreement,
a vote of stockholders, a resolution of directors of the Company, or otherwise. No amendment, alteration or repeal of this Agreement or
of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted
by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in
the DGCL, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Company’s
certificate of incorporation, the Company’s bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall
enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive
of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.


 


(b)               
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan
or other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under
such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has directors’
and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the
insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with
the terms of such policies. Further, if requested by Indemnitee, within 2 business days of such request, the Company will instruct the
insurance carriers and the Company’s insurance broker that they may communicate directly with Indemnitee regarding such claim.


 


(c)                In
the event of a Change in Control or the Company’s becoming insolvent, the Company shall maintain in force any and all
insurance policies then maintained by the Company in providing insurance--directors’ and officers’ liability, fiduciary,
employment practices or otherwise-in respect of the individual directors and officers of the Company, for a fixed period of 6 years
thereafter (a “Tail Policy”). Such coverage shall be non-cancellable and shall be placed and serviced for the
duration of its term by the Company’s incumbent insurance broker or a broker of at least substantially comparable standing and
reputation as determined by the Company. Such broker shall place the Tail policy with the incumbent insurance carriers using the
policies that were in place at the time of the change of control event (unless the incumbent carriers will not offer such policies,
in which case the Tail Policy placed by the Company’s insurance broker shall be substantially comparable in scope and amount
as the expiring policies, and the insurance carriers for the Tail Policy shall have an AM Best rating that is the same or better
than the AM Best ratings of the expiring policies).


 






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(d)               
The Company acknowledges that Indemnitee has or may have in the future certain rights to indemnification, advancement of expenses
or insurance provided by other entities or organizations (collectively, the “Secondary Indemnitors”). The Company agrees
that (i) it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Secondary
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary),
(ii) it will be required to advance the full amount of expenses incurred by Indemnitee and will be liable for the full amount of
all Expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms
of this Agreement and the Company’s certificate of incorporation or the Company’s bylaws (or any other agreement between the
Company and Indemnitee), without regard to any rights Indemnitee may have against the Secondary Indemnitors, and (iii) it irrevocably
waives, relinquishes and releases the Secondary Indemnitors from any and all claims against the Secondary Indemnitors for contribution,
subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Secondary
Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company will affect
the foregoing and the Secondary Indemnitors will have a right of contribution and be subrogated to the extent of such advancement or payment
to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are
express third party beneficiaries of the terms of this Section 8(d).


 


(e)               
Except as provided in Sections 8(d) and 8(f) hereof, in the event of any payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of Indemnitee (other than against the Secondary Indemnitors),
who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are
necessary to enable the Company to bring suit to enforce such rights.


 


(f)                
Except as provided in Section 8(d) hereof, the Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance
policy, contract, agreement or otherwise; provided, however, that payment made to Indemnitee pursuant to an insurance policy purchased
and maintained by Indemnitee at his or her own expense of any amounts otherwise indemnifiable or obligated to be made pursuant to this
Agreement shall not reduce the Company’s obligations to Indemnitee pursuant to this Agreement.


 


(g)               
Except as provided in Section 8(d) hereof, the Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee
who is or was serving at the request of the Company as a director, officer, employee or agent of any other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification
or advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.


 






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9.                  
Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated
under this Agreement to make any indemnity in connection with any claim made against Indemnitee:


 


(a)               
 for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision,
except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that
the foregoing shall not affect the rights of Indemnitee or the Secondary Indemnitors set forth in Section 8(d) hereof;, and, provided
further, that payment made to Indemnitee pursuant to an insurance policy purchased and maintained by Indemnitee at his or her own
expense of any amounts otherwise indemnifiable or obligated to be made pursuant to this Agreement shall not reduce the Company’s
obligations to Indemnitee pursuant to this Agreement; or


 


(b)               
for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act, or similar provisions of state statutory law or common law; or


 


(c)               
in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part
of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i)
the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, (ii) such Proceeding is being brought by
Indemnitee to assert, interpret or enforce Indemnitee’s rights under this Agreement, or (iii) the Company provides the indemnification,
in its sole discretion, pursuant to the powers vested in the Company under applicable law;


 


(d)               
a final judgment or other final adjudication by a court of competent jurisdiction not subject to further appeal is made that Indemnitee’s
conduct was in bad faith, knowingly fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of
such specific determination);


 


(e)               
in connection with any claim for reimbursement or any recovery policy of the Company by Indemnitee of any bonus or other incentive-based
or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each
case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304
of the Sarbanes-Oxley Act or Section 954 of the Dodd-Frank Act, or the payment to the Company of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor
(including pursuant to any settlement); or


 


(f)                
on account of conduct that is established by a final judgment by a court of competent jurisdiction not subject to further appeal
as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal profit or advantage to which
Indemnitee is not legally entitled.


 


10.               Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an
officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise), and shall continue thereafter so long as Indemnitee
shall be subject to any Proceeding (or any proceeding commenced under Section 7 hereof) by reason of Indemnitee’s
Corporate Status, whether or not Indemnitee is acting or serving in any such capacity at the time any liability or expense is
incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by
purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns,
spouses, heirs, executors and personal and legal representatives. In addition, the Company shall require and cause any successor
(whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of
the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to
assume and agree to perform this Agreement and indemnify Indemnitee to the fullest extent permitted by law.


 






    -9- 


     


    

 


11.              
Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to
time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust
or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent
of the Indemnitee.


 


12.              
Enforcement.


 


(a)               
The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby
in order to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying
upon this Agreement in serving as an officer or director of the Company.


 


(b)               
Other than as provided in this Agreement, this Agreement constitutes the entire agreement between the parties hereto with respect
to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto
with respect to the subject matter hereof.


 


(c)               
The Company and Indemnitee agree that a monetary remedy for breach of this Agreement may be inadequate, impracticable and difficult
of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee
may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage
or irreparable harm (having agreed that actual and irreparable harm will result in not forcing the Company to specifically perform its
obligations pursuant to this Agreement) and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded
from seeking or obtaining any other relief to which he or she may be entitled. The Company and Indemnitee further agree that Indemnitee
shall be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions
and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges
that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by the Court, and the Company hereby waives any such
requirement of a bond or undertaking. If Indemnitee seeks mandatory injunctive relief, it shall not be a defense to enforcement of the
Company’s obligations set forth in this Agreement that Indemnitee has an adequate remedy at law for damages.


 


13.              
Definitions. For purposes of this Agreement:


 


(a)               
“Beneficial Owner” has the meaning given to such term in Rule 13d-3 under the Exchange Act; provided,
however, that Beneficial Owner will exclude any Person otherwise becoming a Beneficial Owner by reason of (i) the stockholders
of the Company approving a merger of the Company with another entity or (ii) the Board approving a sale of securities by the Company
to such Person.


 


(b)               
“Change in Control” means the earliest to occur after the date of this Agreement of any of the following events:


 


(i)                
 Acquisition of Stock by Third Party. Any Person becomes the Beneficial Owner, directly or indirectly, of securities of
the Company representing 15% or more of the combined voting power of the Company’s then outstanding securities;


 


(ii)              
Change in Board Composition. During any period of two consecutive years (not including any period prior to the execution
of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii)
or (iv) of this definition of Change in Control) whose election by the Board or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority
of the members of the Board;


 






    -10- 


     


    

 


(iii)            
Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than
a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the Board or other governing body of such surviving entity;


 


(iv)             
Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for
the sale or disposition by the Company of all or substantially all of the Company’s assets; and


 


(v)               
Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of
Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Exchange Act,
whether or not the Company is then subject to such reporting requirement.


 


(c)               
“Corporate Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary
of the Company or of any other Enterprise, including as a deemed fiduciary thereto.


 


(d)               
“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification is sought by Indemnitee.


 


(e)               
“Dodd-Frank Act” means the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.


 


(f)                
“Enterprise” shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise that Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary,
including as a deemed fiduciary thereto.


 


(g)               
“Exchange Act” means the Securities Exchange Act of 1934, as amended.


 


(h)                “Expenses”
includes all documented and reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness
fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all
other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute
or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a
request to provide discovery in any Proceeding. Expenses also will include Expenses incurred in
connection with any appeal resulting from any Proceeding, including, without limitation, the premium, security for, and other costs
relating to any costs bond, supersedes bond, or other appeal bond or its equivalent, and any federal, state, local or foreign taxes
imposed on the Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, including, without
limitation, the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its
equivalent. Expenses will not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.


 






    -11- 


     


    

 


(i)                
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material
to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar
indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above
and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement
or its engagement pursuant hereto.


 


(j)                
“Person” for purposes of the definition of Beneficial Owner and Change in Control herein will have the meaning
as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person will exclude (i) the
Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any
corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership
of stock of the Company.


 


(k)               
“Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternative dispute resolution
mechanism, investigation (whether formal or informal), inquiry, administrative hearing or any other actual, threatened or completed proceeding,
whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which
Indemnitee was, is or will be involved as a party or otherwise, by reason of Indemnitee’s Corporate Status, by reason of any action
taken by Indemnitee or of any inaction on Indemnitee’s part while acting in Indemnitee’s Corporate Status; in each case whether
or not Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification
can be provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated by an
Indemnitee pursuant to Section 7 of this Agreement to enforce Indemnitee’s rights under this Agreement.


 


(l)                
“Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002, as amended.


 


(m)             
“Securities Act” means the Securities Act of 1933, as amended.


 


14.               Severability;
No Imputation. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee
indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any
applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to
resolve such conflict. The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise
shall not be imputed to Indemnitee for purposes of determining any rights under this Agreement.


 






    -12- 


     


    

 


15.              
Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless
executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.


 


16.              
Notice By Indemnitee and Defense of Claim. Indemnitee agrees to notify the Company promptly in writing upon being served
with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding
or matter which may be subject to indemnification covered hereunder; provided, however, that notice will be deemed to have been given
without any action on the part of Indemnitee in the event the Company is a party to the same Proceeding. The failure to so notify the
Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise, unless and
only to the extent that such failure or delay materially prejudices the Company. With respect to the commencement of any Proceeding of
which Indemnitee notifies the Company:


 


17.              
Notice by Company. If the Indemnitee is the subject of, or is, to the knowledge of the Company, implicated in any way during
an investigation, whether formal or informal, that is related to Indemnitee’s Corporate Status and that reasonably could lead to
a Proceeding for which indemnification can be provided under this Agreement, the Company shall notify (if deemed legally permissible and
appropriate by the Company, upon advice of counsel) the Indemnitee of such investigation and shall share (to the extent deemed legally
permissible and appropriate by the Company, upon advice of counsel) with Indemnitee any information it has provided to any third parties
concerning the investigation (“Shared Information”). By executing this Agreement, Indemnitee agrees that such Shared Information
is material non-public information that Indemnitee is obligated to hold in confidence and may not disclose publicly; provided, however,
that Indemnitee may use the Shared Information and disclose such Shared Information to Indemnitee’s legal counsel and third parties,
in each case solely in connection with defending Indemnitee from legal liability.


 


18.              
Defense of Claim


 


(a)               
The Company shall be entitled to participate therein at its own expense.


 


(b)                The
Company, jointly with any other indemnifying party similarly notified, shall be entitled to assume the defense thereof, with counsel
reasonably satisfactory to Indemnitee; provided, however, that the Company shall not be entitled to assume the defense
of any Proceeding (i) if there has been a Change in Control, (ii) if Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Company and Indemnitee with respect to such Proceeding, or (iii) the fees and expenses are
non-duplicative and reasonably incurred in connection with Indemnitee’s role in the Proceeding despite the Company’s
assumption of the defense, in each case all Expenses of the Proceeding shall be borne by the Company. Indemnitee agrees that any
such separate counsel will be a member of any approved list of panel counsel under the Company’s applicable directors’
and officers’ insurance policy, should the applicable policy provide for a panel of approved counsel. The Company shall not be
entitled, without the consent of Indemnitee, to assume the defense of any claim brought by or in the right of the Company. After
notice from the Company to Indemnitee of its election to assume the defense thereof, the Company shall not be liable to Indemnitee
under this Agreement for any Expenses subsequently incurred by Indemnitee in connection with the defense thereof, other than
reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ Indemnitee’s own
counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of
the defense thereof shall be at the expense of Indemnitee unless:


 


(i)                
the employment of counsel by Indemnitee has been authorized by the Company; or


 


(ii)              
the Company shall not in fact have employed counsel to assume the defense in such Proceeding or shall not in fact have assumed
such defense and be acting in connection therewith with reasonable diligence; in each of which cases, the fees and expenses of such counsel
shall be at the expense of the Company.


 






    -13- 


     


    

 


(c)               
The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without Indemnitee’s
written consent; provided, however, that Indemnitee shall not unreasonably withhold Indemnitee’s consent to any proposed
settlement. The Company shall not, on its own behalf, settle any part of any Proceeding to which Indemnitee is party, with respect to
other parties (including the Company) if any portion of such settlement is to be funded from corporate insurance proceeds unless approved
by (i) the written consent of Indemnitee or (ii) a majority of the Disinterested Directors of the Board, even though less than a quorum;
provided, however, that the right to constrain the Company’s use of corporate insurance as described in this Section shall
terminate at the time the Company concludes (per the terms of this Agreement) that (i) Indemnitee is not entitled to indemnification pursuant
to this Agreement, or (ii) such indemnification obligation to Indemnitee has been fully discharged by the Company.


 


19.              
Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be
deemed effectively given (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile
if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five days after having
been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt.


 


20.              
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same Agreement. Counterparts
may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN
Act of 2000, Uniform Electronic Transactions Act or other applicable law)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and
effective for all purposes.


 


21.              
Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction thereof.


 


22.               Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without giving effect to any conflicts of laws principles that
require the application of the law of a different jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally
(i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the
Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in
the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware
Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent
such party is not otherwise subject to service of process in the State of Delaware, irrevocably The Corporation Trust Company as its
agent in the State of Delaware for acceptance of legal process in connection with any such action or proceeding against such party
with the same legal force and validity as if served upon such party personally within the State of Delaware,
(iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not
to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or
inconvenient forum.


 


[Signature Page Follows]


 






    -14- 


     


    

 


IN WITNESS WHEREOF, the parties
have executed this Indemnification Agreement as of the Effective Date.


 


	 	COMPANY:




 


	 	POINT Biopharma Global Inc.




 


		By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 



 


(Signature
Page to Indemnification Agreement)


 








     


     


    

 


IN WITNESS WHEREOF, the parties
have executed this Indemnification Agreement as of the Effective Date.


 


	 	INDEMNITEE:




 


	 	Print Name: 	 
	 	Sign Name: 	 




 


	 	Address:
	 	 
	 	 




 


	 	Email:	 




 


(Signature
Page to Indemnification Agreement)