Exhibit
10.1


 


RAPID
MICRO BIOSYSTEMS, INC.


 


2010
STOCK OPTION AND GRANT PLAN


 


(as
amended and restated April 28, 2020)


 


	SECTION 1.	GENERAL PURPOSE OF THE PLAN; DEFINITIONS




 


The
name of the plan is the Rapid Micro Biosystems, Inc. 2010 Stock Option and Grant Plan (as amended and restated, the “Plan”).
The purpose of the Plan is to encourage and enable the officers, employees, directors, Consultants and other key persons (including
prospective employees, but conditioned on their employment) of Rapid Micro Biosystems, Inc., a Delaware corporation (including
any successor entity, the “Company”) and any Subsidiary, upon whose judgment, initiative and efforts the Company largely
depends for the successful conduct of its business, to acquire a proprietary interest in the Company. It is anticipated that providing
such persons with a direct stake in the Company’s welfare will assure a closer identification of their interests with those
of the Company and its stockholders, thereby stimulating their efforts on the Company’s behalf and strengthening their desire
to remain with the Company.


 


The
following terms shall be defined as set forth below:


 


“Affiliate”
of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is
under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person
possesses directly or indirectly the power to direct, or cause the direction of, the management and policies of the second Person,
whether through the ownership of voting securities, by contract or otherwise.


 


“Award”
or “Awards,” except where referring to a particular category of grant under the Plan, shall include Incentive
Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted Stock Awards, Restricted Stock Units or any
combination of the foregoing.


 


“Award
Agreement” means a written or electronic agreement setting forth the terms and provisions applicable to an Award granted
under the Plan. Each Award Agreement may contain terms and conditions in addition to those set forth in the Plan; provided,
however, that except to the extent explicitly provided to the contrary, in the event of any conflict in the terms of the Plan
and the Award Agreement, the terms of the Plan shall govern.


 


“Bankruptcy”
shall mean (i) the filing of a voluntary petition under any bankruptcy or insolvency law, or a petition for the appointment of
a receiver or the making of an assignment for the benefit of creditors, with respect to the Holder, or (ii) the Holder being subjected
involuntarily to such a petition or assignment or to an attachment or other legal or equitable interest with respect to the Holder’
s assets, which involuntary petition or assignment or attachment is not discharged within 60 days after its date, and (iii) the
Holder being subject to a transfer of its Issued Shares or Award(s) by operation of law (including by divorce, even if not insolvent),
except by reason of death.


 


“Board”
means the Board of Directors of the Company.






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“Cause”
shall have the meaning as set forth in the Award Agreement(s). In the case that any Award Agreement does not contain a definition
of “Cause,” it shall mean (i) dishonest statements or acts of the grantee with respect to the Company or any Affiliate
of the Company, or any of the Company’s current or prospective customers, suppliers vendors or other third parties with
which such entity does business; (ii) the grantee’s commission of (A) a felony or (B) any misdemeanor involving moral turpitude,
deceit, dishonesty or fraud; (iii) failure to perform to the reasonable satisfaction of the Company the grantee’s duties
and responsibilities assigned or delegated which failure continues, in the reasonable judgment of the Company, after written notice
given to the grantee by the Company; (iv) gross negligence, willful misconduct or insubordination of the grantee with respect
to the Company or any Affiliate of the Company; or (v) a violation of any provision of any agreement(s) between grantee and the
Company relating to noncompetition, nondisclosure and/or assignment of inventions.


 


“Chief
Executive Officer” means the Chief Executive Officer of the Company or, if there is no Chief Executive Officer, then
the President of the Company.


 


“Code”
means the Internal Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.


 


“Committee”
means the Committee of the Board referred to in Section 2.


 


“Consultant”
means any natural person that provides bona fide services to the Company (including a Subsidiary), and such services are not
in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote
or maintain a market for the Company’s securities.


 


“Effective
Date” means the date on which the Plan is approved by stockholders as set forth on the final page of the Plan.


 


“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.


 


“Fair
Market Value” of the Stock on any given date means the fair market value of the Stock determined in good faith by the
Committee based on the reasonable application of a reasonable valuation method not inconsistent with Section 409A of the Code.
If the Stock is admitted to quotation on a national securities exchange, the determination shall be made by reference to market
quotations. If the date for which Fair Market Value is determined is the first day when trading prices for the Stock are reported
on a national securities exchange, the Fair Market Value shall be the “Price to the Public” (or equivalent) set forth
on the cover page for the final prospectus relating to the Company’s Initial Public Offering.


 


“Good
Reason” shall have the meaning as set forth in the Award Agreement(s). In the case that any Award Agreement does not
contain a definition of “Good Reason,” it shall mean: (i) a material diminution in the grantee’s base salary
except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially
all senior management employees of the Company or (ii) a change of more than 50 miles in the geographic location at which the
grantee provides services to the Company.




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“Grant
Date” means the date that the Committee designates in its approval of an Award in accordance with applicable law as
the date on which the Award is granted, which date may not precede the date of such Committee approval.


 


“Holder”
means, with respect to an Award or any Issued Shares, the Person holding such Award or Issued Shares, including the initial
recipient of the Award or any Permitted Transferee.


 


“Incentive
Stock Option” means any Stock Option designated and qualified as an “incentive stock option” as defined
in Section 422 of the Code.


 


“Initial
Public Offering” means the consummation of the first fully underwritten, firm commitment public offering pursuant to
an effective registration statement under the Securities Act covering the offer and sale by the Company of its equity securities,
as a result of or following which the Stock shall be publicly held.


 


“Issued
Shares” means, collectively, all outstanding Shares issued pursuant to Restricted Stock Awards, Unrestricted Stock Awards
and Restricted Stock Units and all Option Shares.


 


“NASDAQ”
means the NASDAQ Stock Market LLC.


 


“Non-Qualified
Stock Option” means any Stock Option that is not an Incentive Stock Option.


 


“Option”
or “Stock Option” means any option to purchase shares of Stock granted pursuant to Section 5.


 


“Option
Shares” means outstanding shares of Stock that were issued to a Holder upon the exercise of a Stock Option.


 


“Permitted
Transferees” shall mean any of the following to whom a Holder may transfer Issued Shares hereunder (as set forth in
Section 9(a)(ii)(A)): the Holder’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse,
sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships, any person sharing the Holder’s household (other than a tenant or employee), a trust in which these
persons have more than fifty percent of the beneficial interest, a foundation in which these persons control the management of
assets, and any other entity in which these persons own more than fifty percent of the voting interests; provided, however,
that any such trust does not require or permit distribution of any Issued Shares during the term of the Award Agreement unless
subject to its terms. Upon the death of the Holder, the term Permitted Transferees shall also include such deceased Holder’s
estate, executions, administrations, personal representations, heirs, legatees and distributees, as the case may be.


 


“Person”
shall mean any individual, corporation, partnership (limited or general), limited liability company, limited liability partnership,
association, trust, joint venture, unincorporated organization or any similar entity.


 


“Repurchase
Event” means (i) a Sale Event or (ii) the Holder’s Bankruptcy.




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“Restricted
Stock Award” means Awards granted pursuant to Section 6 and “Restricted Stock” means Shares granted
pursuant to such Awards.


 


“Restricted
Stock Unit” means an Award of phantom stock units to a grantee, which may be settled in cash or stock as determined
by the Committee, pursuant to Section 8.


 


“Sale
Event” means the consummation of (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially
all of the assets of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or consolidation
involving the Company in which the shares of voting stock outstanding immediately prior to such transaction represent or are converted
into or exchanged for securities of the surviving or resulting entity immediately upon completion of such transaction which represent
less than 50 percent of the outstanding voting power of such surviving or resulting entity, (iv) the acquisition of all or a majority
of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a Person or group
of Persons, or (v) any other acquisition of the business of the Company, as determined by the Board; provided, however,
that the Company’s Initial Public Offering, any subsequent public offering or another capital raising event, or a merger
effected solely to change the Company’s domicile shall not constitute a “Sale Event.”


 


“Section
409A” means Section 409A of the Code and the regulations and other guidance promulgated thereunder.


 


“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder.


 


“Service
Relationship” means any relationship as a full-time employee, part-time employee, director or other key person (including
Consultants) of the Company or any Subsidiary or any successor entity (e.g., a Service Relationship shall be deemed to continue
without interruption in the event an individual’s status changes from full-time employee to part-time employee or Consultant).


 


“Shares”
means shares of Stock.


 


“Stock”
means the Common Stock, par value $.01 per share, of the Company, subject to adjustments pursuant to Section 3.


 


“Subsidiary”
means any corporation or other entity (other than the Company) in which the Company has more than a 50 percent interest, either
directly or indirectly.


 


“Ten
Percent Owner” means an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d)
of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent of the Company
or any Subsidiary.


 


“Termination
Event” means the termination of the Award recipient’s Service Relationship with the Company and its Subsidiaries
for any reason whatsoever, regardless of the circumstances thereof, and including, without limitation, upon death, disability,
retirement, discharge or resignation for any reason, whether voluntarily or involuntarily. The following shall not constitute
a Termination Event: (i) a transfer to the service of the Company from a Subsidiary
or from the Company to a Subsidiary, or from one Subsidiary to another Subsidiary or (ii) an approved leave of absence for military
service or sickness, or for any other purpose approved by the Committee, if the individual’s right to re-employment is guaranteed
either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Committee
otherwise so provides in writing.



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“Unrestricted
Stock Award” means any Award granted pursuant to Section 7 and “Unrestricted Stock” means Shares
granted pursuant to such Awards.


 


	SECTION 2.	ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO
SELECT GRANTEES AND DETERMINE AWARDS




 


(a)         
Administration of Plan. The Plan shall be administered by the Board, or at the discretion of the Board, by a committee
of the Board, comprised, except as contemplated by Section 2(c), of not less than two Directors. All references herein to the
 “Committee” shall be deemed to refer to the group then responsible for administration of the Plan at the relevant
time (i.e., either the Board of Directors or a committee or committees of the Board, as applicable).


 


(b)         
Powers of Committee. The Committee shall have the power and authority to grant Awards consistent with the terms of the
Plan, including the power and authority:


 


(i)          to
select the individuals to whom Awards may from time to time be granted;


 


(ii)
         to determine the time or times of grant, and the amount, if any, of Incentive Stock Options, Non-Qualified Stock Options, Restricted
Stock Awards, Unrestricted Stock Awards, Restricted Stock Units, or any combination of the foregoing, granted to any one or more
grantees;


 


(iii)
        to determine the number of shares of Stock to be covered by any Award and, subject to the provisions of Section 5(a)(i) below,
the price, exercise price, conversion ratio or other price relating thereto;


 


(iv)
        to determine and, subject to Section 13, to modify from time to time the terms and conditions, including restrictions, not inconsistent
with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve
the form of Award Agreements;


 


(v)         to
accelerate at any time the exercisability or vesting of all or any portion of any Award;


 


(vi)
        to impose any limitations on Awards granted under the Plan, including limitations on transfers, repurchase provisions and the
like, and to exercise repurchase rights or obligations;


 


(vii)
       subject to any restrictions imposed by Section 409A, to extend at any time the period in which Stock Options may be exercised;
and



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(viii)
     at any time to adopt, alter and repeal such rules, guidelines and practices for administration of the Plan and for its own acts
and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including related
written instruments); to make all determinations it deems advisable for the administration of the Plan; to decide all disputes
arising in connection with the Plan; and to otherwise supervise the administration of the Plan.


 


All
decisions and interpretations of the Committee shall be binding on all persons, including the Company and Plan grantees.


 


(c)         
Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and
limitations for each Award and may include, without limitation, the term of an Award, the provisions applicable in the event the
Service Relationship terminates, and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel
or rescind an Award. To the extent permitted by the Committee, Award Agreements may be executed electronically by the Award recipient.


 


(d)         
Indemnification. Neither the Board nor the Committee, nor any member of either or any delegate thereof, shall be liable
for any act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members
of the Board and the Committee (and any delegate thereof) shall be entitled in all cases to indemnification and reimbursement
by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees)
arising or resulting therefrom to the fullest extent permitted by law and/or under the Company’s governing documents, including
its certificate of incorporation or bylaws, or any directors’ and officers’ liability insurance coverage which may
be in effect from time to time and/or any indemnification agreement between such individual and the Company.


 


(e)          Foreign
Award Recipients. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in other
countries in which the Company and any Subsidiary operate or have employees or other individuals eligible for Awards,
the Committee, in its sole discretion, shall have the power and authority to: (i) determine which Subsidiaries, if any, shall
be covered by the Plan; (ii) determine which individuals, if any, outside the United States are eligible to participate in
the Plan; (iii) modify the terms and conditions of any Award granted to individuals outside the United States to comply with
applicable foreign laws; (iv)  establish subplans and modify exercise procedures and other terms and procedures, to the
extent the Committee determines such actions to be necessary or advisable (and such subplans and/or modifications shall be
attached to the Plan as appendices); provided, however, that no such subplans and/or modifications shall
increase the share limitation contained in Section 3(a) hereof; and (v) take any action, before or after an Award is made,
that the Committee determines to be necessary or advisable to obtain approval or comply with any local governmental
regulatory exemptions or approvals. Notwithstanding the foregoing, the Committee may not take any actions hereunder, and no
Awards shall be granted, that would violate the Exchange Act or any other applicable United States securities law, the Code,
or any other applicable United States governing statute or law.




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	SECTION 3.	STOCK ISSUABLE UNDER THE PLAN; MERGERS AND OTHER
TRANSACTIONS; SUBSTITUTION




 


(a)          Stock
Issuable. The maximum number of Shares reserved and available for issuance under the Plan shall be 26,624,362
Shares, subject to adjustment as provided in Section 3(b) hereof. For purposes of this limitation, the shares of Stock
underlying any Awards that are forfeited, canceled, withheld upon exercise of an Option or settlement of an Award to cover
the exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or
otherwise terminated (other than by exercise), in each case shall be added back to the shares of Stock available for issuance
under the Plan. Subject to such overall limitations, shares of Stock may be issued up to such maximum number pursuant to any
type or types of Award. The shares available for issuance under the Plan may be authorized but unissued shares of Stock or
shares of Stock reacquired by the Company.


 


(b)         
Changes in Stock. Subject to Section 3(c) hereof, if, as a result of any reorganization, recapitalization, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding
shares of Stock are increased or decreased or are exchanged for a different number or kind of shares or other securities of the
Company, or additional shares or new or different shares or other securities of the Company or other non-cash assets are distributed
with respect to such shares of Stock or other securities, or, if, as a result of any merger or consolidation, or sale of all or
substantially all of the assets of the Company, the outstanding shares of Stock are converted into or exchanged for securities
of the Company or any successor entity (or a parent or subsidiary thereof), the Committee shall make an appropriate and equitable
or proportionate adjustment in (i) the maximum number of shares reserved for issuance under the Plan, (ii) the number and kind
of shares or other securities subject to any then outstanding Awards under the Plan, (iii) the repurchase price, if any, per share
subject to each outstanding Award, and (iv) the exercise price for each share subject to any then outstanding Stock Options under
the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number of Stock Options) as
to which such Stock Options remain exercisable. The adjustment by the Committee shall be final, binding and conclusive. No fractional
shares of Stock shall be issued under the Plan resulting from any such adjustment, but the Committee in its discretion may make
a cash payment in lieu of fractional shares.


 


(c)         
Sale Events.


 


		(i)	Options.



 


(A)       
In the case of and subject to the consummation of a Sale Event, the Plan and all Options issued hereunder shall terminate upon
the effective time of any such Sale Event unless provision is made in connection with the Sale Event for the assumption or continuation
of Options theretofore granted by the successor entity, or the substitution of such Options with new Options of the successor
entity or parent thereof, with an equitable or proportionate adjustment as to the number and kind of shares and, if appropriate,
the per share exercise prices, as such parties shall agree (after taking into account any acceleration hereunder and/or pursuant
to the terms of any Award Agreement).



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(B)
         In the event of the termination of the Plan and all Options issued hereunder pursuant to Section 3(c), each Holder of Options
shall be permitted, within a specified period of time prior to the consummation of the Sale Event as determined by the Committee,
to exercise all such Options which are then exercisable or will become exercisable as of the effective time of the Sale Event;
provided, however, that the exercise of Options not exercisable prior to the Sale Event shall be subject to the consummation
of the Sale Event.


 


(C)
         Notwithstanding anything to the contrary in Section 3(c)(i)(A), in the event of a Sale Event, the Company shall have the right,
but not the obligation, to make or provide for a cash payment to the grantees holding Options in exchange for the cancellation
thereof, in an amount equal to the difference between (A) the value as determined by the Committee of the consideration payable
per share of Stock pursuant to the Sale Event (the “Sale Price”) times the number of shares of Stock subject to outstanding
Options (to the extent then vested exercisable, including by reason of acceleration in connection with such Sale Event, at prices
not in excess of the Sale Price) and (B) the aggregate exercise price of all such outstanding vested Options.


 


(ii)        
Option Shares. Unless otherwise provided in an Award Agreement, in the case of and subject to the consummation of a Sale
Event, Option Shares shall be subject to the repurchase right set forth in Section 9(c)(i).


 


(iii)        Restricted
Stock and Restricted Stock Unit Awards.


 


(A)
         In the case of and subject to the consummation of a Sale Event, all Restricted Stock and Restricted Stock Unit Awards issued hereunder
shall be forfeited immediately prior to the effective time of any such Sale Event unless provision is made in connection with
the Sale Event for the assumption or continuation of such Awards by the successor entity, or the substitution of such Awards with
new Awards of the successor entity or parent thereof, with an equitable or proportionate adjustment as to the number and kind
of shares subject to such Awards as such parties shall agree (after taking into account any acceleration hereunder and/or pursuant
to the terms of any Award Agreement).


 


(B)
         In the event of the forfeiture of shares of Restricted Stock issued hereunder pursuant to Section 3(c)(iii)(A), such shares of
Restricted Stock shall be repurchased from the Holder thereof at a price per share equal to the lower of the original per share
purchase price paid by the recipient (subject to adjustment as provided in Section 3(b)) or the current Fair Market Value of such
shares, determined immediately prior to the effective time of the Sale Event.


 


(C)
         Notwithstanding anything to the contrary in Section 3(c)(iii)(A), in the event of a Sale Event, the Company shall have the right,
but not the obligation, to make or provide for a cash payment to the grantees holding Restricted Stock or Restricted Stock Unit
Awards in exchange for the cancellation thereof, in an amount equal to the Sale Price times the number of shares of Stock subject
to such Awards, to be paid at the time of such Sale Event or upon the later vesting of such Awards.



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(iv)       
Unrestricted Stock Awards. Unless otherwise provided in an Award Agreement, any shares of Unrestricted Stock shall be treated
in a Sale Event the same as all other Shares then outstanding.


 


	SECTION 4.	ELIGIBILITY




 


Grantees
under the Plan will be such full or part-time officers and other employees, directors, Consultants and key persons (including
prospective employees, but conditioned on their employment) of the Company and any Subsidiary who are selected from time to time
by the Committee in its sole discretion; provided, however, that an Incentive Stock Option may be granted only to
a person who, at the time the Incentive Stock Option is granted, is an employee of the Company or any Subsidiary.


 


	SECTION 5.	STOCK OPTIONS




 


The
grant of a Stock Option is contingent on the grantee executing a Stock Option Award Agreement. The terms and conditions of each
such Stock Option Award Agreement shall be determined by the Committee, and such terms and conditions may differ among individual
Awards and grantees, all of whom must be eligible persons under Section 4 hereof.


 


Stock
Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options
may be granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the
meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall
be deemed a Non-Qualified Stock Option.


 


No
Incentive Stock Option shall be granted under the Plan after the date which is ten years from the date the Plan is approved by
the Board.


 


(a)         
Terms of Stock Options. The Committee in its discretion may grant Stock Options to eligible officers, employees, directors,
Consultants and key persons of the Company or any Subsidiary. Stock Options granted pursuant to this Section 5(a) shall be subject
to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms
of the Plan, as the Committee shall deem desirable. If the Committee so determines, Stock Options may be granted in lieu of cash
compensation at the optionee’s election, subject to such terms and conditions as the Committee may establish.


 


(i)         
Exercise Price. The exercise price per share for the Stock covered by a Stock Option granted pursuant to Section 5(a) shall
be determined by the Committee at the time of grant but shall not be less than 100 percent of the Fair Market Value on the Grant
Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the option price of such Incentive Stock
Option shall not be less than 110 percent of the Fair Market Value on the Grant Date.


 


(ii)        
Option Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more
than ten years after the date the Stock Option is granted. In the case of an Incentive Stock Option that is granted to a Ten Percent
Owner, the term of such Stock Option shall be no more than five years from the Grant Date.



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(iii)        
Exercisability; Rights of a Stockholder. Stock Options shall become exercisable and/or vested at such time or times, whether
or not in installments, as shall be determined by the Committee at or after the Grant Date. The Award Agreement may permit an
optionee to exercise all or a portion of a Stock Option immediately at grant; provided that the Option Shares issued upon such
exercise shall be subject to restrictions and a vesting schedule identical to the vesting schedule of the related Stock Option
and the optionee shall be required to enter into a Restricted Stock Award Agreement and any other similar documentation required
by the Company as a condition to exercise of such Stock Option. An optionee shall have the rights of a stockholder only as to
shares acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. An optionee shall not be deemed to
have acquired any such shares unless and until a Stock Option shall have been exercised pursuant to the terms hereof and the optionee’s
name shall have been entered on the books of the Company as a stockholder.


 


(iv)        
Method of Exercise. Stock Options may be exercised by an optionee in whole or in part, by the optionee giving written notice
of exercise to the Company, specifying the number of shares to be purchased. Payment of the purchase price may be made by one
or more of the following methods (or any combination thereof) to the extent provided in the Option Award Agreement:


 


(A)       
In cash, by certified or bank check, by wire transfer of immediately available funds, or other instrument acceptable to the Committee;


 


(B)
         If permitted by the Committee, by the optionee delivering to the Company a promissory note, if the Board has expressly authorized
the loan of funds to the optionee for the purpose of enabling or assisting the optionee to effect the exercise of his or her Stock
Option; provided, that at least so much of the exercise price as represents the par value of the Stock shall be paid other
than with a promissory note if required by state law;


 


(C)
         If permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), through
the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the optionee on the open market
or that are beneficially owned by the optionee and are not then subject to restrictions under any Company plan. To the extent
required to avoid variable accounting treatment under FASB ASC Topic 718 or other applicable accounting rules, such surrendered
shares if originally purchased from the Company shall have been owned by the optionee for at least six months. Such surrendered
shares shall be valued at Fair Market Value on the exercise date;


 


(D)       
If permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), by
the optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker
to promptly deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided
that in the event the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply with
such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition
of such payment procedure; and




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(E)        
If permitted by the Committee, with respect to Stock Options that are not Incentive Stock Options, by a “net exercise”
arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole
number of shares with a Fair Market Value that does not exceed the aggregate exercise price.


 


Payment
instruments will be received subject to collection. No certificates for shares of Stock so purchased will be issued to the optionee
or, with respect to uncertificated Stock, no transfer to the optionee on the records of the Company will take place, until the
Company has completed all steps required by law to be taken in connection with the issuance and sale of the shares, including
without limitation (i) receipt of a representation from the optionee at the time of exercise of the Option that the optionee is
purchasing the shares for the optionee’s own account and not with a view to any sale or distribution thereof, (ii) the legending
of any certificate (or notation on any book entry) representing the shares to evidence the foregoing restrictions, and (iii) obtaining
from optionee payment or provision for all withholding taxes due as a result of the exercise of the Option. The delivery of certificates
representing the shares of Stock (or the transfer to the optionee on the records of the Company with respect to uncertificated
Stock) to be purchased pursuant to the exercise of a Stock Option will be contingent upon receipt from the optionee (or a purchaser
acting in his or her stead in accordance with the provisions of the Stock Option) by the Company of the full purchase price for
such shares and the fulfillment of any other requirements contained in the Option Award Agreement or applicable provisions of
laws. In the event an optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method,
the number of shares of Stock transferred to the optionee upon the exercise of the Stock Option shall be net of the number of
shares attested to.


 


(b)         
Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option” treatment under
Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the shares of Stock with respect
to which Incentive Stock Options granted under the Plan and any other plan of the Company or its parent and any Subsidiary that
become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000 or such other limit as
may be in effect from time to time under Section 422 of the Code. To the extent that any Stock Option exceeds this limit, it shall
constitute a Non-Qualified Stock Option.


 


	SECTION 6.	RESTRICTED STOCK AWARDS




 


(a)         
Nature of Restricted Stock Awards. The Committee may, in its sole discretion, grant (or sell at par value or such higher
purchase price determined by the Committee) to an eligible person under Section 4 hereof a Restricted Stock Award under the Plan.
The Committee shall determine the restrictions and conditions applicable to each Restricted Stock Award at the time of grant.
Conditions may be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals
and objectives and/or such other criteria as the Committee may determine. The grant of a Restricted Stock Award is contingent
on the grantee executing a Restricted Stock Award Agreement. The terms and conditions of each such Award Agreement shall be determined
by the Committee, and such terms and conditions may differ among individual Awards and grantees, all of whom must be eligible
persons under Section 4 hereof.



    11 


     


    

(b)         
Rights as a Stockholder. Upon execution of a Restricted Stock Award Agreement and payment of any applicable purchase price,
a grantee of Restricted Stock shall be considered the record owner of and shall be entitled to vote the Shares of Restricted Stock
if, and to the extent, such Shares are entitled to voting rights, subject to such conditions contained in the Restricted Stock
Award Agreement. The grantee shall be entitled to receive all dividends and any other distributions declared on the Shares; provided,
however, that the Company is under no duty to declare any such dividends or to make any such distribution. The Restricted
Stock Award Agreement may require or permit the immediate payment, waiver, deferral or investment of dividends paid on the Restricted
Stock. Unless the Committee shall otherwise determine, certificates evidencing the Restricted Stock shall remain in the possession
of the Company until such Restricted Stock is vested as provided in subsection (d) below of this Section, and the grantee shall
be required, as a condition of the grant, to deliver to the Company a stock power endorsed in blank and such other instruments
of transfer as the Committee may prescribe.


 


(c)         
Restrictions. Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except
as specifically provided herein or in the Restricted Stock Award Agreement. Except as may otherwise be provided by the Committee
either in the Award Agreement or, subject to Section 13 below, in writing after the Award Agreement is issued, if any, if a grantee’s
employment (or other Service Relationship) with the Company and any Subsidiary terminates, the Company or its assigns shall have
the right, as may be specified in the relevant instrument, to repurchase some or all of the Shares subject to the Award at such
purchase price as is set forth in the Restricted Stock Award Agreement.


 


(d)         
Vesting of Restricted Stock. The Committee at the time of grant shall specify the date or dates and/or the attainment of
pre-established performance goals, objectives and other conditions on which the substantial risk of forfeiture imposed shall lapse
and the Restricted Stock shall become vested, subject to such further rights of the Company or its assigns as may be specified
in the Restricted Stock Award Agreement.


 


	SECTION 7.	UNRESTRICTED STOCK AWARDS




 


(a)         
Grant or Sale of Unrestricted Stock. The Committee may, in its sole discretion, grant (or sell at par value or such higher
purchase price determined by the Committee) to an eligible person under Section 4 hereof an Unrestricted Stock Award under the
Plan. Unrestricted Stock Awards may be granted in respect of past services or other valid consideration, or in lieu of cash compensation
due to such grantee.


 


(b)         
Elections to Receive Unrestricted Stock In Lieu of Compensation. Upon the request of an eligible person under Section 4
hereof and with the consent of the Committee, each such grantee may, pursuant to an advance written election delivered to the
Company no later than the date specified by the Committee, receive a portion of any cash compensation otherwise due to such grantee
in the form of shares of Unrestricted Stock.


 


	SECTION 8.	RESTRICTED STOCK UNITS




 


(a)         
Nature of Restricted Stock Units. The Committee shall determine the restrictions and conditions applicable to each Restricted
Stock Unit at the time of grant. Vesting conditions may
be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals and objectives
and/or other such criteria as the Committee may determine. The grant of Restricted Stock Unit(s) is contingent on the grantee
executing a Restricted Stock Unit Award Agreement. The terms and conditions of each such Award Agreement shall be determined by
the Committee and may differ among individual Awards and grantees. On or promptly following the vesting date or dates applicable
to any Restricted Stock Unit, such Restricted Stock Unit(s), shall be settled in the form of cash or shares of Stock, as specified
in the Award Agreement.




    12 


     


    


(b)         
Rights as a Stockholder. A grantee shall have the rights of a stockholder only as to shares of Stock, if any, acquired
upon settlement of a Restricted Stock Unit. A grantee shall not be deemed to have acquired any such shares unless and until a
Restricted Stock Unit shall have been settled in Stock pursuant to the terms hereof, the Company shall have issued and delivered
a certificate representing the shares to the grantee, and the grantee’s name shall have been entered in the books of the
Company as a stockholder.


 


(c)         
Termination. Except as may otherwise be provided by the Committee either in the Award Agreement or in writing after the
Award Agreement is issued, a grantee’s right in all Restricted Stock Units that have not vested shall automatically terminate
upon the grantee’s termination of employment (or cessation of Service Relationship) with the Company and any Subsidiary
for any reason.


 


	SECTION 9.	TRANSFER RESTRICTIONS; COMPANY RIGHT OF FIRST
REFUSAL; COMPANY REPURCHASE RIGHTS




 


(a)          Restrictions
on Transfer.


 


(i)         
Non-Transferability of Stock Options. No Stock Option shall be transferable by the optionee otherwise than by will or by
the laws of descent and distribution and all Stock Options shall be exercisable, during the optionee’s lifetime, only by
the optionee, or by the optionee’s legal representative or guardian in the event of the optionee’s incapacity. Notwithstanding
the foregoing, the Committee, in its sole discretion, may provide in the Award Agreement regarding a given Stock Option that the
optionee may transfer, without consideration for the transfer, his or her Non-Qualified Stock Options to members of his or her
immediate family, to trusts for the benefit of such family members, or to partnerships in which such family members are the only
partners, provided that the transferee agrees in writing with the Company to be bound by all of the terms and conditions of this
Plan and the applicable Option.






    13 


     


    



(ii)        
Issued Shares. No Issued Shares shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other
manner disposed of or encumbered, whether voluntarily or by operation of law, unless (i) such transfer is in compliance with the
terms of the applicable Award Agreement, all applicable securities laws (including, without limitation, the Securities Act), and
with the terms and conditions of this Section 9, (ii) such transfer does not cause the Company to become subject to the reporting
requirements of the Exchange Act, and (iii) the transferee consents in writing to be bound by the provisions of the Plan, including
this Section 9. In connection with any proposed transfer, the Committee may require the transferor to provide at the transferor’s
own expense an opinion of counsel to the transferor, satisfactory to the
Committee, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation,
the Securities Act). Any attempted disposition of Issued Shares not in accordance with the terms and conditions of this Section
9 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Issued Shares
as a result of any such disposition, shall otherwise refuse to recognize any such disposition and shall not in any way give effect
to any such disposition of Issued Shares. Subject to the foregoing general provisions, and unless otherwise provided in the applicable
Award Agreement, Issued Shares may be transferred pursuant to the following specific terms and conditions (provided that with
respect to any transfer of Restricted Stock, all vesting and forfeiture provisions shall continue to apply only with respect to
the original recipient):


 


(A)       
Transfers to Permitted Transferees. The Holder may sell, assign, transfer or give away any or all of the Issued Shares
to Permitted Transferees; provided, however, that following such sale, assignment, or other transfer, such Issued Shares
shall continue to be subject to the terms of this Plan (including this Section 9) and such Permitted Transferee(s) shall, as a
condition to any such transfer, deliver a written acknowledgment to that effect to the Company.


 


(B)       
Transfers Upon Death. Upon the death of the Holder, any Issued Shares then held by the Holder at the time of such death
and any Issued Shares acquired thereafter by the Holder’s legal representative shall be subject to the provisions of this
Plan, and the Holder’s estate, executors, administrators, personal representatives, heirs, legatees and distributees shall
be obligated to convey such Issued Shares to the Company or its assigns under the terms contemplated hereby.


 


(b)         
Right of First Refusal. In the event that a Holder desires at any time to sell or otherwise transfer all or any part of
such Holder’s Issued Shares (other than shares of Restricted Stock which by their terms are not transferrable), the Holder
first shall give written notice to the Company of the Holder’s intention to make such transfer. Such notice shall state
the number of Issued Shares which the Holder proposes to sell (the “Offered Shares”), the price and the terms at which
the proposed sale is to be made and the name and address of the proposed transferee. At any time within 30 days after the receipt
of such notice by the Company, the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the
price and on the terms offered by the proposed transferee and specified in the notice. The Company or its assigns shall exercise
this right by mailing or delivering written notice to the Holder within the foregoing 30-day period. If the Company or its assigns
elect to exercise its purchase rights under this Section 9(b), the closing for such purchase shall, in any event, take place within
45 days after the receipt by the Company of the initial notice from the Holder. In the event that the Company or its assigns do
not elect to exercise such purchase right, or in the event that the Company or its assigns do not pay the full purchase price
within such 45-day period, the Holder may, within 60 days thereafter, sell the Offered Shares to the proposed transferee and at
the same price and on the same terms as specified in the Holder’s notice. Any Shares purchased by such proposed transferee
shall no longer be subject to the terms of the Plan. Any Shares not sold to the proposed transferee shall remain subject to the
Plan.



    14 


     


    

		(c)	Company’s
                                         Right of Repurchase.




 



(i)         
Right of Repurchase for Option Shares. The Company or its assigns shall have the right and option upon a Repurchase Event
to repurchase from a Holder of Option Shares some or all (as determined by the Company) of the Option Shares held or subsequently
acquired upon exercise of a Stock Option by such Holder at the price per share specified below. Such repurchase right may be exercised
by the Company within the later of (A) six months following the date of such Repurchase Event or (B) seven months after the acquisition
of such Option Shares upon exercise of a Stock Option (the “Option Shares Repurchase Period”). The “Option Shares
Repurchase Price” shall be equal to the Fair Market Value of the Option Shares, determined as of the date the Committee
elects to exercise its repurchase rights in connection with a Repurchase Event.


 


(ii)        
Right of Repurchase With Respect to Restricted Stock and Shares issued pursuant to an Unrestricted Stock Award or Restricted Stock
Unit Award. Unless otherwise set forth in the agreement entered into by the recipient and the Company in connection with a Restricted
Stock Award, Unrestricted Stock Award or Restricted Stock Unit Award, the Company or its assigns shall have the right and option
upon a Repurchase Event to repurchase from a Holder of Issued Shares received pursuant to a Restricted Stock Award, Unrestricted
Stock Award or Restricted Stock Unit Award some or all (as determined by the Company) of such Issued Shares at the price per share
specified below. In addition, upon a Termination Event, the Company or its assigns shall have the right and option to repurchase
from a Holder of Issued Shares received pursuant to a Restricted Stock Award any Issued Shares which have not vested as of the
Termination Event. Such repurchase right may be exercised by the Company within six months following the date of such Repurchase
Event or Termination Event as applicable (the “Non-Option Shares Repurchase Period”). The “Non-Option Shares
Repurchase Price” shall be (i) in the case of Issued Shares which are vested as of the date of the Repurchase Event, the
Fair Market Value of such Issued Shares as of the date the Company elects to exercise its repurchase rights in connection with
a Repurchase Event and (ii) in the case of Issued Shares which have not vested as of the date of the Repurchase Event or Termination
Event (as applicable), the lower of the original per share purchase price paid by the recipient subject to adjustment as provided
in Section 3(b) or the current Fair Market Value of such Issued Shares as of the date the Company elects to exercise its repurchase
rights in connection with a Repurchase Event or Termination Event (as applicable).


 


(iii)       
Procedure. Any repurchase right of the Company shall be exercised by the Company or its assigns by giving the Holder written
notice on or before the last day of the Option Shares Repurchase Period or Non-Option Shares Repurchase Period, as applicable,
of its intention to exercise such repurchase right. Upon such notification, the Holder shall promptly surrender to the Company,
free and clear of any liens or encumbrances, any certificates representing the Shares being purchased, together with a duly executed
stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s
or its assignee’s receipt of the certificates from the Holder, the Company or its assignee or assignees shall deliver to
him, her or them a check for the Option Shares Repurchase Price or the Non-Option Shares Repurchase Price, as applicable; provided,
however, that the Company may pay the Option Shares Repurchase Price or Non-Option Shares Repurchase Price, as applicable,
by offsetting and canceling any indebtedness then owed by the Holder to the Company.



    15 


     


    



(d)         
Drag Along Right. In the event the holders of a majority of the Company’s equity securities then outstanding (the
 “Majority Shareholders”) determine to enter into a Sale Event in a bona fide negotiated transaction (a “Sale”),
with any non-Affiliate of the Company or any majority shareholder (in each case, the “Buyer”), a Holder of Issued
Shares, including any Permitted Transferees, shall be obligated to and shall upon the written request of the Majority Shareholders:
(a) sell, transfer and deliver, or cause to be sold, transferred and delivered, to the Buyer, his or her Issued Shares (including
for this purpose all of such Holder’s or his or her Permitted Transferee’s Issued Shares that presently or as a result
of any such transaction may be acquired upon the exercise of an Option (following the payment of the exercise price therefor))
on substantially the same terms applicable to the Majority Shareholders (with appropriate adjustments to reflect the conversion
of convertible securities, the redemption of redeemable securities and the exercise of exercisable securities as well as the relative
preferences and priorities of preferred stock); and (b) execute and deliver such instruments of conveyance and transfer and take
such other action, including voting such Issued Shares in favor of any Sale proposed by the Majority Shareholders and executing
any purchase agreements, merger agreements, indemnity agreements, escrow agreements or related documents as the Majority Shareholders
or the Buyer may reasonably require in order to carry out the terms and provisions of this Section 9(d).


 


		(e)	Escrow
                                         Arrangement.



 


(i)         
Escrow. In order to carry out the provisions of Sections 9(b), (c), and (d) of this Agreement more effectively, the Company
shall hold any Issued Shares in escrow together with separate stock powers executed by the Holder in blank for transfer, and any
Permitted Transferee shall, as an additional condition to any transfer of Issued Shares, execute a like stock power as to such
Issued Shares. The Company shall not dispose of the Issued Shares except as otherwise provided in this Agreement. In the event
of any repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Holder and any Permitted Transferee,
as the Holder’s and each such Permitted Transferee’s attorney-in-fact, to date and complete the stock powers necessary
for the transfer of the Issued Shares being purchased and to transfer such Issued Shares in accordance with the terms hereof.
At such time as any Issued Shares are no longer subject to the Company’s repurchase, first refusal and drag along rights,
the Company shall, at the written request of the Holder, deliver to the Holder (or the relevant Permitted Transferee) a certificate
representing such Issued Shares with the balance of the Issued Shares to be held in escrow pursuant to this Section 9(e).


 


(ii)        
Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that a Holder, any Permitted
Transferees or any other Person is required to sell a Holder’s Issued Shares pursuant to the provisions of Sections 9(b),
(c), or (d) hereof and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated
purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power,
the Company or such designated purchaser may deposit the applicable purchase price for such Issued Shares with a bank designated
by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for such Holder,
any Permitted Transferees or other Person, to be held by such bank or accounting firm for the benefit of and for delivery to him,
her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by such Holder as
provided above.
Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the Person who
was required to sell the Issued Shares to be sold pursuant to the provisions of Sections 9(b), (c), or (d), such Issued Shares
shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, such Holder shall have no
further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall
record such transfer in its stock transfer book or in any appropriate manner.



    16 


     


    


(f)          
Lockup Provision. A Holder agrees, if requested by the Company and any underwriter engaged by the Company, not to sell
or otherwise transfer or dispose of any Issued Shares (including, without limitation, pursuant to Rule 144 under the Securities
Act) held by him or her for such period following the effective date of any registration statement of the Company filed under
the Securities Act as the Company or such underwriter shall specify reasonably and in good faith.


 


(g)         
Adjustments for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common
Stock are increased or decreased or are exchanged for a different number or kind of shares of the Company’s Stock, the restrictions
contained in this Section 9 shall apply with equal force to additional and/or substitute securities, if any, received by Holder
in exchange for, or by virtue of his or her ownership of, Issued Shares.


 


(h)         
Termination. The terms and provisions of Section 9(b), Section 9(c) (except for the Company’s right to repurchase
unvested Restricted Stock Awards upon a Termination Event) and Section 9(d) shall terminate upon the closing of the Company’s
Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or
a successor entity) of the same class as the Issued Shares are registered under Section 12 of the Exchange Act and publicly-traded
on NASDAQ or any national security exchange.


 


	SECTION 10.	TAX WITHHOLDING




 


(a)         
Payment by Grantee. Each grantee shall, no later than the date as of which the value of an Award or of any Stock or other
amounts received thereunder first becomes includable in the gross income of the grantee for Federal income tax purposes, pay to
the Company, or make arrangements satisfactory to the Committee regarding payment of, any Federal, state, or local taxes of any
kind required by law to be withheld by the Company with respect to such income. The Company and any Subsidiary shall, to the extent
permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company’s
obligation to deliver stock certificates (or evidence of book entry) to any grantee is subject to and conditioned on any such
tax withholding obligations being satisfied by the grantee.


 


(b)         
Payment in Stock. Subject to approval by the Committee, a grantee may elect to have the Company’s required tax withholding
obligation satisfied, in whole or in part, by authorizing the Company to withhold from shares of Stock to be issued pursuant to
any Award a number
of shares with an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the applicable withholding
amount due.



    17 


     


    

	SECTION 11.	SECTION 409A AWARDS.




 


To
the extent that any Award is determined to constitute “nonqualified deferred compensation” within the meaning of Section
409A (a “409A Award”), the Award shall be subject to such additional rules and requirements as specified by the Committee
from time to time in order to comply with Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation
from service” (within the meaning of Section 409A) to a grantee who is considered a “specified employee” (within
the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of (i) six months and one
day after the grantee’s separation from service, or (ii) the grantee’s death, but only to the extent such delay is
necessary to prevent such payment from being subject to interest, penalties and/or additional tax imposed pursuant to Section
409A.


 


	SECTION 12.	TRANSFER, LEAVE OF ABSENCE, ETC.




 


For
purposes of the Plan, the following events shall not be deemed a termination of a Service Relationship:


 


(a)        
a transfer to the employment of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another;
or


 


(b)        
an approved leave of absence for military service or sickness, or for any other purpose approved by the Company, if the employee’s
right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence
was granted or if the Committee otherwise so provides in writing.


 


	SECTION 13.	AMENDMENTS AND TERMINATION




 


The
Board may, at any time, amend or discontinue the Plan and the Committee may, at any time, amend or cancel any outstanding Award
(or provide substitute Awards at the same or a reduced exercise or purchase price or with no exercise or purchase price in a manner
not inconsistent with the terms of the Plan; provided, that such price, if any, must satisfy the requirements which would
apply to the substitute or amended Award if it were then initially granted under the Plan for the purpose of satisfying changes
in law or for any other lawful purpose), but no such action shall adversely affect rights under any outstanding Award without
the consent of the holder of the Award. The Committee may exercise its discretion to reduce the exercise price of outstanding
Stock Options or effect repricing through cancellation of outstanding Awards and by granting such holders new Awards in replacement
of the cancelled Awards. To the extent determined by the Committee to be required either by the Code to ensure that Incentive
Stock Options granted under the Plan are qualified under Section 422 of the Code or otherwise, Plan amendments shall be subject
to approval by the Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 13 shall limit
the Board’s or Committee’s authority to take any action permitted pursuant to Section 3(c).



    18 


     


    

	SECTION 14.	STATUS OF PLAN




 


With
respect to the portion of any Award that has not been exercised and any payments in cash, Stock or other consideration not received
by a grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Committee shall
otherwise expressly so determine in connection with any Award or Awards. In its sole discretion, the Committee may authorize the
creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect
to Awards hereunder; provided, that the existence of such trusts or other arrangements is consistent with the foregoing
sentence.


 


	SECTION 15.	GENERAL PROVISIONS




 


(a)         
No Distribution; Compliance with Legal Requirements. The Committee may require each person acquiring Stock pursuant to
an Award to represent to and agree with the Company in writing that such person is acquiring the shares of Stock without a view
to distribution thereof. No shares of Stock shall be issued pursuant to an Award until all applicable securities law and other
legal and stock exchange or similar requirements have been satisfied. The Committee may require the placing of such stop-orders
and restrictive legends on certificates for Stock and Awards as it deems appropriate.


 


(b)         
Delivery of Stock Certificates. Stock certificates to grantees under the Plan shall be deemed delivered for all purposes
when the Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed
to the grantee, at the grantee’s last known address on file with the Company. Uncertificated Stock shall be deemed delivered
for all purposes when the Company or a Stock transfer agent of the Company shall have given to the grantee by electronic mail
(with proof of receipt) or by United States mail, addressed to the grantee, at the grantee’s last known address on file
with the Company, notice of issuance and recorded the issuance in its records (which may include electronic “book entry”
records).


 


(c)         
Other Compensation Arrangements; No Employment Rights. Nothing contained in the Plan shall prevent the Board from
adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable
or applicable only in specific cases. The adoption of the Plan and the grant of Awards do not confer upon any employee any right
to continued employment or Service Relationship with the Company or any Subsidiary.


 


(d)         
Trading Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to such Company’s
insider trading policy-related restrictions, terms and conditions as may be established by the Committee, or in accordance with
policies set by the Committee, from time to time.


 


(e)         
Designation of Beneficiary. Each grantee to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries
to exercise any Award on or after the grantee’s death or receive any payment under any Award payable on or after the grantee’s
death. Any such designation shall be on a form provided for that purpose by the Committee and shall not be effective until received
by the Committee. If no beneficiary has been designated by a deceased
grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate.



    19 


     


    

(f)          
Legend. Any certificate(s) representing the Issued Shares shall carry substantially the following legend (and with respect
to uncertificated Stock, the book entries evidencing such shares shall contain the following notation):


 


The
transferability of this certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions
(including repurchase and restrictions against transfers) contained in the Rapid Micro Biosystems, Inc. 2010 Stock Option and
Grant Plan and any agreement entered into thereunder by and between the company and the holder of this certificate (a copy of
which is available at the offices of the company for examination).


 


	SECTION 16.	EFFECTIVE DATE OF PLAN




 


The
Plan shall become effective upon approval of stockholders in accordance with applicable state law, and the Company’s certificate
of incorporation and bylaws. Subject to such approval by the stockholders and to the requirement that no Stock Option or other
Award may be issued hereunder prior to such approval, Stock Options and other Awards may be granted hereunder on and after adoption
of the Plan by the Board. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the
Effective Date and no grants of Incentive Stock Options may be made hereunder after the tenth anniversary of the date the Plan
is approved by the Board.


 


	SECTION 17.	GOVERNING LAW




 


This
Plan, all Awards and any controversy arising out of or relating to this Plan and all Awards shall be governed by and construed
in accordance with the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all
other matters shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without
regard to conflict of law principles that would result in the application of any law other than the law of the Commonwealth of
Massachusetts.


 


DATE
APPROVED BY THE BOARD OF DIRECTORS: April 28, 2020


 


DATE
APPROVED BY THE STOCKHOLDERS:             April 28, 2020





    20 


         

    



INCENTIVE
STOCK OPTION AGREEMENT


UNDER
THE RAPID MICRO BIOSYSTEMS, INC.


2010
STOCK OPTION AND GRANT PLAN 


 







	Name
        of Optionee:

	As
        set forth on the grant summary (the “Grant Summary”) on the website to which this agreement is associated
        (the “Optionee”)


	 	
	No. of Underlying Shares:	As
        set forth on the Grant Summary


	 	
	Grant Date:	As
        set forth on the Grant Summary


	 	
	Vesting
        Commencement Date:

	As
        set forth on the Grant Summary (the “Vesting Commencement Date”)


	 	
	Expiration Date:	As
        set forth on the Grant Summary (the “Expiration Date”)


	 	
	Option
        Exercise Price/Share:

	As
        set forth on the Grant Summary (the “Option Exercise Price”)









  


Pursuant
to the Rapid Micro Biosystems, Inc. 2010 Stock Option and Grant Plan (the “Plan”), Rapid Micro Biosystems, Inc.,
a Delaware corporation (together with any successor thereto, the “Company”), hereby grants to the Optionee, who
is employed by the Company or any of its Subsidiaries, an option (the “Stock Option”) to purchase on or prior to
the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares of Common Stock,
par value $.01 per share (“Common Stock”), of the Company indicated above (the “Underlying Shares,”
and such shares once issued shall be referred to as the “Option Shares”), at the Option Exercise Price per share,
subject to the terms and conditions set forth in this Incentive Stock Option Agreement (this “Agreement”) and in
the Plan. This Stock Option is intended to qualify as an “incentive stock option” as defined in Section 422(b) of
the Internal Revenue Code of 1986, as amended from time to time (the “Code”). To the extent that any portion of
the Stock Option does not so qualify, it shall be deemed a non-qualified stock option.


 


All
capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan.


 


1.
           Vesting, Exercisability and Termination.


 


(a)
       No portion of this Stock Option may be exercised until such portion shall have vested and
become exercisable.


 


(b)
       Subject to the determination of the Committee in its sole discretion to accelerate the vesting
schedule hereunder, this Stock Option shall become vested and exercisable as set forth in the Grant Summary. Notwithstanding anything
herein to the contrary in the case of a Sale Event, this Stock Option shall be treated as provided in Section 3(c) of the Plan.




    


     


    


(c)
          Termination. Except as may otherwise be provided by the Committee, if the Optionee’s
Service Relationship is terminated, the period within which to exercise this Stock Option will be subject to earlier termination
as set forth below (and if not exercised within such period, shall thereafter terminate subject, in each case to Section 3(c)
of the Plan):


 


(i)
        Termination Due to Death or Disability. If the Optionee’s Service Relationship
terminates by reason of such Optionee’s death or disability (as defined in Section 422(c) of the Code), this Stock
Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee, the Optionee’s legal
representative or legatee for a period of 12 months from the date of death or disability or until the Expiration Date, if earlier.


 


(ii)
        Other Termination. If the Optionee’s Service Relationship terminates for
any reason other than death or disability (as defined in Section 422(c) of the Code), and unless otherwise determined by the Committee,
this Stock Option may be exercised, to the extent exercisable on the date of termination, for a period of 90 days from the date
of termination or until the Expiration Date or other termination date, if earlier; provided  however, if the
Optionee’s Service Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date of
such termination.


 


For
purposes hereof, the Committee’s determination of the reason for termination of the Optionee’s Service Relationship
shall be conclusive and binding on the Optionee and his or her representatives or legatees. Any portion of this Stock Option that
is not exercisable on the date of termination of the Service Relationship shall terminate immediately and be null and void.


 


(d)
         It is understood and intended that this Stock Option is intended to qualify as an “incentive
stock option” as defined in Section 422 of the Code to the extent permitted under applicable law. Accordingly, the Optionee
understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other
disposition may be made of Option Shares for which incentive stock option treatment is desired within the one-year period beginning
on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the
day after Grant Date of this Stock Option and further that this Stock Option must be exercised within three months after termination
of employment as an employee (or 12 months in the case of death or disability) to qualify as an incentive stock option. If the
Optionee disposes (whether by sale, gift, transfer or otherwise) of any such Option Shares within either of these periods, he
or she will notify the Company within 30 days after such disposition. The Optionee also agrees to provide the Company with any
information concerning any such dispositions required by the Company for tax purposes. Further, to the extent the Underlying Shares
and any other incentive stock options of the Optionee having an aggregate Fair Market Value in excess of $100,000 (determined
as of the Grant Date) first become exercisable in any year, such options will not qualify as incentive stock options.




    2


     


    


2.
           Exercise of Stock Option.


 


(a)
       The Optionee may exercise this Stock Option only in the following manner: Prior to the
Expiration Date, the Optionee may deliver a Stock Option exercise notice (an “Exercise Notice”) in the form
of Appendix A hereto indicating his or her election to purchase some or all of the Underlying Shares with respect to
which this Stock Option is exercisable at the time of such notice. Such notice shall specify the number of Underlying Shares
to be purchased. Payment of the purchase price may be made by one or more of the methods described in Sections 5(a)(iv)(A),
(B), (C) or (D) of the Plan, subject to the limitations contained in such Sections of the Plan, including the requirement
that the Committee specifically approve in advance certain payment methods.


 


(b)
       Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option
shall be exercisable after the Expiration Date.


 


3.          
Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and
governed by all the terms and conditions of the Plan.


 


4.
           Transferability of Stock Option. This Agreement is personal to the
Optionee and is not transferable by the Optionee in any manner other than by will or by the laws of descent and distribution.
The Stock Option may be exercised during the Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian
or personal representative in the event of the Optionee’s incapacity). The Optionee may elect to designate a beneficiary
by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time
by filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee’s Stock Option
in the event of the Optionee’s death to the extent provided herein. If the Optionee does not designate a beneficiary, or
if the designated beneficiary predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option
to the extent provided herein in the event of the Optionee’s death.


 


5.
           Restrictions on Transfer of Option Shares. The Option Shares acquired
upon exercise of the Stock Option shall be subject to certain transfer restrictions and other limitations including, without limitation,
the provisions contained in Section 9 of the Plan.


 


6.
           Miscellaneous Provisions.


 


(a)
       Equitable Relief. The parties hereto agree and declare that legal remedies may be inadequate
to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may
be used to enforce the provisions of this Agreement.


 


(b)
       Adjustments for Changes in Capital Structure. If, as a result of any reorganization,
recapitalization, reincorporation, reclassification, stock dividend, stock split, reverse stock split or other similar change
in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different number
or kind of shares of the Company’s stock, the restrictions contained in this Agreement shall apply with equal force to additional
and/or substitute securities, if any, received by the Optionee in exchange for, or by virtue of his or her ownership of, Option
Shares.




    3


     


    


(c)
       Change and Modifications. This Agreement may not be orally changed, modified or terminated,
nor shall any oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by
an agreement in writing signed by the Company and the Optionee.


 


(d)
       Governing Law. This Agreement shall be governed by and construed in accordance with
the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall
be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without regard to conflict
of law principles that would result in the application of any law other than the law of the Commonwealth of Massachusetts.


 


(e)
       Headings. The headings are intended only for convenience in finding the subject matter
and do not constitute part of the text of this Agreement and shall not be considered in the interpretation of this Agreement.


 


(f)
        Saving Clause. If any provision(s) of this Agreement shall be determined to be
illegal or unenforceable, such determination shall in no manner affect the legality or enforceability of any other provision hereof.


 


(g)
       Notices. All notices, requests, consents and other communications shall be in writing
and be deemed given when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered
or certified mail, postage prepaid. Notices to the Company or the Optionee shall be addressed as set forth underneath their signatures
below, or to such other address or addresses as may have been furnished by such party in writing to the other.


 


(h)
       Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto, their respective successors, permitted assigns, and legal representatives. The Company has
the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the
extent of such assignment.


 


(i)
        Counterparts. For the convenience of the parties and to facilitate execution,
this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same document.


 


7.
           Dispute Resolution.


 


(a)
       Except as provided below, any dispute arising out of or relating to the Plan or this Stock
Option, this Agreement, or the breach, termination or validity of the Plan, this Stock Option or this Agreement, shall be finally
settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules
and Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the United States Arbitration Act,
9 U.S.C. Sections 1 16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction
thereof. The place of arbitration shall be Boston, Massachusetts.




    4


     


    


(b)
       The arbitration shall commence within 60 days of the date on which a written demand for arbitration
is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the
production of documents by each party and any third-party witnesses. In addition, each party may take up to three depositions
as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving
party. However, the arbitrator shall not have the power to order the answering of interrogatories or the response to requests
for admission. In connection with any arbitration, each party to the arbitration shall provide to the other, no later than seven
business days before the date of the arbitration, the identity of all persons that may testify at the arbitration and a copy of
all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s
decision and award shall be made and delivered within six months of the selection of the arbitrator. The arbitrator’s decision
shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award
damages in excess of actual compensatory damages and shall not multiply actual damages or award punitive damages, and each party
hereby irrevocably waives any claim to such damages.


 


(c)
        The Company, the Optionee, each party to the Agreement and any other holder of Stock
issued pursuant to this Agreement (each, a “Party”) covenants and agrees that such party will participate in the arbitration
in good faith. This Section 7 applies equally to requests for temporary, preliminary or permanent injunctive relief, except that
in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited
purpose of avoiding immediate and irreparable harm.


 


(d)
        Each Party (i) hereby irrevocably submits to the jurisdiction of any United States District
Court of competent jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives,
and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that
it is not subject personally to the jurisdiction of the above named courts, that its property is exempt or immune from attachment
or execution (except as protected by applicable law), that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court, and (iii) hereby waives and agrees not to seek any review by any court of any other jurisdiction which may
be called upon to grant an enforcement of the judgment of any such court. Each Party hereby consents to service of process by
registered mail at the address to which notices are to be given. Each Party agrees that its, his or her submission to jurisdiction
and its, his or her consent to service of process by mail is made for the express benefit of each other Party. Final judgment
against any Party in any such action, suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding
on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction.


 


[SIGNATURE
PAGE FOLLOWS]




    5


     


    

The
foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date
first above written.


 


	 	RAPID
    MICRO BIOSYSTEMS, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:



 


	 	Address:
    	1001
    Pawtucket Blvd West
	 	 	Lowell,
    MA 01854


 


Optionee
acknowledges receiving and reviewing a copy of the Plan, including, without limitation, Section 9 thereof, and understands that
the Stock Option granted hereby is subject to the terms of the Plan and of this Agreement. By his or her electronic acceptance
of the Stock Option, Optionee agrees to the terms and conditions of the Plan and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION
PROVISIONS IN SECTION 7 OF THIS AGREEMENT.


 


	 	OPTIONEE:
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 


 


	[SPOUSE’S
    CONSENT1
	I acknowledge that I have read the foregoing Incentive
Stock Option Agreement and understand the contents thereof.	 
		]


 


 





 






1
A spouse’s consent is required only if the Optionee’s state of residence is one of the following community property
states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.




    6


     


    


	 	DESIGNATED
    BENEFICIARY:
	 	 
	 	 
	 	Beneficiary’s
    Address:
	 	 
	 	 
	 	 






    7


     


    


Appendix
A 


 


STOCK
OPTION EXERCISE NOTICE 


 


Rapid
Micro Biosystems, Inc.


Attention:
Chief Financial Officer


1001
Pawtucket Blvd West


Lowell,
MA 01854


 


Pursuant
to the terms of the stock option agreement between the undersigned and Rapid Micro Biosystems, Inc. (the “Company”)
dated __________ (the “Agreement”) under the Rapid Micro Biosystems, Inc. 2010 Stock Option and Grant Plan, I, [Insert
Name] ________________, hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of
$______ representing the purchase price for [Fill in number of Underlying Shares] _______ Underlying Shares. I have chosen the
following form(s) of payment:


 


	[
    ]	1.	Cash	 
	[
    ]	2.	Certified
    or bank check payable to Rapid Micro Biosystems, Inc.	 
	[
    ]	3.	Other
    (as referenced in the Agreement and described in the Plan (please describe))	 
	 	 	 	.


 


In
connection with my exercise of the option as set forth above, I hereby represent and warrant to the Company as follows:


 


(i)
         I am purchasing the Underlying Shares for my own account for investment only, and not
for resale or with a view to the distribution thereof.


 


(ii)
        I have had such an opportunity as I have deemed adequate to obtain from the Company such information
as is necessary to permit me to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers
with respect to my investment in the Company.


 


(iii)
       I have sufficient experience in business, financial and investment matters to be able to evaluate
the risks involved in the purchase of the Underlying Shares and to make an informed investment decision with respect to such purchase.


 


(iv)
       I can afford a complete loss of the value of the Option Shares and am able to bear the economic
risk of holding such Option Shares for an indefinite period of time.




    8


     


    


(v)
        I understand that the Option Shares may not be registered under the Securities Act of 1933
(it being understood that the Option Shares are being issued and sold in reliance on the exemption provided in Rule 701 thereunder)
or any applicable state securities or “blue sky” laws and may not be sold or otherwise transferred or disposed of
in the absence of an effective registration statement under the Securities Act of 1933 and under any applicable state securities
or “blue sky” laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates
representing Option Shares will bear restrictive legends reflecting the foregoing and/or that book entries for uncertificated
Option Shares will include similar restrictive notations.


 


	 	Sincerely
    yours,
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 






    9


     


    



INCENTIVE
STOCK OPTION AGREEMENT


UNDER
THE RAPID MICRO BIOSYSTEMS, INC.


2010
STOCK OPTION AND GRANT PLAN 


 







	Name
        of Optionee:

	As
        set forth on the grant summary (the “Grant Summary”) on the website to which this agreement is associated
        (the “Optionee”)


	 	
	No. of Underlying Shares:	As
        set forth on the Grant Summary


	 	
	Grant Date:	As
        set forth on the Grant Summary


	 	
	Vesting
        Commencement Date:

	As
        set forth on the Grant Summary (the “Vesting Commencement Date”)


	 	
	Expiration Date:	As
        set forth on the Grant Summary (the “Expiration Date”)


	 	
	Option
        Exercise Price/Share:

	As
        set forth on the Grant Summary (the “Option Exercise Price”)









  


Pursuant
to the Rapid Micro Biosystems, Inc. 2010 Stock Option and Grant Plan (the “Plan”), Rapid Micro Biosystems, Inc.,
a Delaware corporation (together with any successor thereto, the “Company”), hereby grants to the Optionee, who
is employed by the Company or any of its Subsidiaries, an option (the “Stock Option”) to purchase on or prior to
the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares of Common Stock,
par value $.01 per share (“Common Stock”), of the Company indicated above (the “Underlying Shares,”
and such shares once issued shall be referred to as the “Option Shares”), at the Option Exercise Price per share,
subject to the terms and conditions set forth in this Incentive Stock Option Agreement (this “Agreement”) and in
the Plan. This Stock Option is intended to qualify as an “incentive stock option” as defined in Section 422(b) of
the Internal Revenue Code of 1986, as amended from time to time (the “Code”). To the extent that any portion of
the Stock Option does not so qualify, it shall be deemed a non-qualified stock option.


 


All
capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan.


 


1.
           Vesting, Exercisability and Termination.


 


(a)
       No portion of this Stock Option may be exercised until such portion shall have vested and
become exercisable.


 


(b)
       Except as set forth below, and subject to the determination of the Committee in its sole discretion
to accelerate the vesting schedule hereunder, this Stock Option shall become vested and exercisable as set forth in the Grant
Summary.




    


     


    




Notwithstanding anything herein to the contrary in the case of a Sale Event, this Stock Option shall be treated as provided
in Section 3(c) of the Plan; provided, however, notwithstanding anything herein to the contrary, in the event (and only in
the event) that this Stock Option is assumed or continued by the Company or its successor entity in the sole discretion of
the parties to a Sale Event and thereafter remains in effect following such Sale Event, then 100% of the then-unvested Underlying
Shares shall be deemed vested and exercisable in full upon the date on which the Optionee’s Service Relationship with
the Company and its Subsidiaries or successor entity terminates if (A) such termination occurs in connection with and effective
as of the date of, or within 12 months following the date of, such Sale Event and (B) such termination is either by the Company
without Cause or by the Optionee for Good Reason. For purposes of this Stock Option, Good Reason shall mean (i) a material
diminution in the Optionee’s base salary except for across-the-board salary reductions based on the Company’s
financial performance similarly affecting all or substantially all senior management employees of the Company, (ii) a change
of more than 50 miles in the geographic location at which the Optionee provides services to the Company or (iii) a material
reduction in the Optionee’s job responsibilities, provided that neither a mere change in title alone nor reassignment
to a substantially similar position shall constitute a material reduction in job responsibilities. Notwithstanding the foregoing,
a resignation shall not be for Good Reason unless (A) the Optionee has provided the Company or the successor company, within
60 days of the initial occurrence of the Good Reason event, written notice stating with reasonable specificity the applicable
facts and circumstances underlying such finding of Good Reason; (B) the Company or the successor company fails to cure such
condition within 30 days after receiving such written notice; and (C) the Optionee’s resignation based on such Good
Reason is effective within 30 days after the expiration of such cure period.


 


(c)
          Termination. Except as may otherwise be provided by the Committee, if the Optionee’s
Service Relationship is terminated, the period within which to exercise this Stock Option will be subject to earlier termination
as set forth below (and if not exercised within such period, shall thereafter terminate subject, in each case to Section 3(c)
of the Plan):


 


(i)
        Termination Due to Death or Disability. If the Optionee’s Service Relationship
terminates by reason of such Optionee’s death or disability (as defined in Section 422(c) of the Code), this Stock
Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee, the Optionee’s legal
representative or legatee for a period of 12 months from the date of death or disability or until the Expiration Date, if earlier.


 


(ii)
        Other Termination. If the Optionee’s Service Relationship terminates for
any reason other than death or disability (as defined in Section 422(c) of the Code), and unless otherwise determined by the Committee,
this Stock Option may be exercised, to the extent exercisable on the date of termination, for a period of 90 days from the date
of termination or until the Expiration Date or other termination date, if earlier; provided  however, if the
Optionee’s Service Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date of
such termination.




    2


     


    


For
purposes hereof, the Committee’s determination of the reason for termination of the Optionee’s Service Relationship
shall be conclusive and binding on the Optionee and his or her representatives or legatees. Any portion of this Stock Option that
is not exercisable on the date of termination of the Service Relationship shall terminate immediately and be null and void.


 


(d)
       It is understood and intended that this Stock Option is intended to qualify as an “incentive
stock option” as defined in Section 422 of the Code to the extent permitted under applicable law. Accordingly, the Optionee
understands that in order to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other
disposition may be made of Option Shares for which incentive stock option treatment is desired within the one-year period beginning
on the day after the day of the transfer of such Option Shares to him or her, nor within the two-year period beginning on the
day after Grant Date of this Stock Option and further that this Stock Option must be exercised within three months after termination
of employment as an employee (or 12 months in the case of death or disability) to qualify as an incentive stock option. If the
Optionee disposes (whether by sale, gift, transfer or otherwise) of any such Option Shares within either of these periods, he
or she will notify the Company within 30 days after such disposition. The Optionee also agrees to provide the Company with any
information concerning any such dispositions required by the Company for tax purposes. Further, to the extent the Underlying Shares
and any other incentive stock options of the Optionee having an aggregate Fair Market Value in excess of $100,000 (determined
as of the Grant Date) first become exercisable in any year, such options will not qualify as incentive stock options.


 






2.
           Exercise of Stock Option.


 


(a)
       The Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration
Date, the Optionee may deliver a Stock Option exercise notice (an “Exercise Notice”) in the form of Appendix
A hereto indicating his or her election to purchase some or all of the Underlying Shares with respect to which this Stock
Option is exercisable at the time of such notice. Such notice shall specify the number of Underlying Shares to be purchased. Payment
of the purchase price may be made by one or more of the methods described in Sections 5(a)(iv)(A), (B), (C) or (D) of the Plan,
subject to the limitations contained in such Sections of the Plan, including the requirement that the Committee specifically approve
in advance certain payment methods.


 


(b)
       Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option
shall be exercisable after the Expiration Date.


 


3.          
Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and
governed by all the terms and conditions of the Plan.


 


4.
           Transferability of Stock Option. This Agreement is personal to the
Optionee and is not transferable by the Optionee in any manner other than by will or by the laws of descent and distribution.
The Stock Option may be exercised during the Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian
or personal representative in the event of the Optionee’s incapacity). The Optionee may elect to designate a beneficiary
by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time
by filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee’s Stock Option
in the event of the Optionee’s death to the extent provided herein. If the Optionee does not designate a beneficiary, or
if the designated beneficiary predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option
to the extent provided herein in the event of the Optionee’s death.




    3


     


    


5.
          Restrictions on Transfer of Option Shares. The Option Shares acquired
upon exercise of the Stock Option shall be subject to certain transfer restrictions and other limitations including, without limitation,
the provisions contained in Section 9 of the Plan.


 


6.
          Miscellaneous Provisions.


 


(a)
       Equitable Relief. The parties hereto agree and declare that legal remedies may be inadequate
to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may
be used to enforce the provisions of this Agreement.


 


(b)
       Adjustments for Changes in Capital Structure. If, as a result of any reorganization,
recapitalization, reincorporation, reclassification, stock dividend, stock split, reverse stock split or other similar change
in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different number
or kind of shares of the Company’s stock, the restrictions contained in this Agreement shall apply with equal force to additional
and/or substitute securities, if any, received by the Optionee in exchange for, or by virtue of his or her ownership of, Option
Shares.


 






(c)
       Change and Modifications. This Agreement may not be orally changed, modified or terminated,
nor shall any oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by
an agreement in writing signed by the Company and the Optionee.


 


(d)
       Governing Law. This Agreement shall be governed by and construed in accordance with
the General Corporation Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall
be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without regard to conflict
of law principles that would result in the application of any law other than the law of the Commonwealth of Massachusetts.


 


(e)
       Headings. The headings are intended only for convenience in finding the subject matter
and do not constitute part of the text of this Agreement and shall not be considered in the interpretation of this Agreement.


 


(f)
        Saving Clause. If any provision(s) of this Agreement shall be determined to be
illegal or unenforceable, such determination shall in no manner affect the legality or enforceability of any other provision hereof.


 


(g)
       Notices. All notices, requests, consents and other communications shall be in writing
and be deemed given when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered
or certified mail, postage prepaid. Notices to the Company or the Optionee shall be addressed as set forth underneath their signatures
below, or to such other address or addresses as may have been furnished by such party in writing to the other.




    4


     


    


(h)
       Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto, their respective successors, permitted assigns, and legal representatives. The Company has
the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the
extent of such assignment.


 


(i)
        Counterparts. For the convenience of the parties and to facilitate execution,
this Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same document.


 


7.
          Dispute Resolution.


 


(a)
       Except as provided below, any dispute arising out of or relating to the Plan or this Stock
Option, this Agreement, or the breach, termination or validity of the Plan, this Stock Option or this Agreement, shall be finally
settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules
and Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the United States Arbitration Act,
9 U.S.C. Sections 1 16, and judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction
thereof. The place of arbitration shall be Boston, Massachusetts.


 






(b)
       The arbitration shall commence within 60 days of the date on which a written demand for arbitration
is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the
production of documents by each party and any third-party witnesses. In addition, each party may take up to three depositions
as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving
party. However, the arbitrator shall not have the power to order the answering of interrogatories or the response to requests
for admission. In connection with any arbitration, each party to the arbitration shall provide to the other, no later than seven
business days before the date of the arbitration, the identity of all persons that may testify at the arbitration and a copy of
all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s
decision and award shall be made and delivered within six months of the selection of the arbitrator. The arbitrator’s decision
shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award
damages in excess of actual compensatory damages and shall not multiply actual damages or award punitive damages, and each party
hereby irrevocably waives any claim to such damages.


 


(c)
        The Company, the Optionee, each party to the Agreement and any other holder of Stock
issued pursuant to this Agreement (each, a “Party”) covenants and agrees that such party will participate in the arbitration
in good faith. This Section 7 applies equally to requests for temporary, preliminary or permanent injunctive relief, except that
in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited
purpose of avoiding immediate and irreparable harm.




    5


     


    


(d)
        Each Party (i) hereby irrevocably submits to the jurisdiction of any United States District
Court of competent jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives,
and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that
it is not subject personally to the jurisdiction of the above named courts, that its property is exempt or immune from attachment
or execution (except as protected by applicable law), that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court, and (iii) hereby waives and agrees not to seek any review by any court of any other jurisdiction which may
be called upon to grant an enforcement of the judgment of any such court. Each Party hereby consents to service of process by
registered mail at the address to which notices are to be given. Each Party agrees that its, his or her submission to jurisdiction
and its, his or her consent to service of process by mail is made for the express benefit of each other Party. Final judgment
against any Party in any such action, suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding
on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction.


 


[SIGNATURE
PAGE FOLLOWS]




    6


     


    

The
foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date
first above written.


 


	 	RAPID
    MICRO BIOSYSTEMS, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:



 


	 	Address:
    	1001
    Pawtucket Blvd West
	 	 	Lowell,
    MA 01854


 


Optionee
acknowledges receiving and reviewing a copy of the Plan, including, without limitation, Section 9 thereof, and understands that
the Stock Option granted hereby is subject to the terms of the Plan and of this Agreement. By his or her electronic acceptance
of the Stock Option, Optionee agrees to the terms and conditions of the Plan and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION
PROVISIONS IN SECTION 7 OF THIS AGREEMENT.


 


	 	OPTIONEE:
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 


 


	[SPOUSE’S
    CONSENT1
	I acknowledge that I have read the foregoing Incentive
Stock Option Agreement and understand the contents thereof.	 
		]


 


 





 






1
A spouse’s consent is required only if the Optionee’s state of residence is one of the following community property
states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.




    7


     


    


	 	DESIGNATED
    BENEFICIARY:
	 	 
	 	 
	 	Beneficiary’s
    Address:
	 	 
	 	 
	 	 






    8


     


    


Appendix
A 


 


STOCK
OPTION EXERCISE NOTICE 


 


Rapid
Micro Biosystems, Inc.


Attention:
Chief Financial Officer


1001
Pawtucket Blvd West


Lowell,
MA 01854


 


Pursuant
to the terms of the stock option agreement between the undersigned and Rapid Micro Biosystems, Inc. (the “Company”)
dated __________ (the “Agreement”) under the Rapid Micro Biosystems, Inc. 2010 Stock Option and Grant Plan, I, [Insert
Name] ________________, hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of
$______ representing the purchase price for [Fill in number of Underlying Shares] _______ Underlying Shares. I have chosen the
following form(s) of payment:


 


	[
    ]	1.	Cash	 
	[
    ]	2.	Certified
    or bank check payable to Rapid Micro Biosystems, Inc.	 
	[
    ]	3.	Other
    (as referenced in the Agreement and described in the Plan (please describe))	 
	 	 	 	.


 


In
connection with my exercise of the option as set forth above, I hereby represent and warrant to the Company as follows:


 


(i)
        I am purchasing the Underlying Shares for my own account for investment only, and not
for resale or with a view to the distribution thereof.


 


(ii)
       I have had such an opportunity as I have deemed adequate to obtain from the Company such information
as is necessary to permit me to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers
with respect to my investment in the Company.


 


(iii)
      I have sufficient experience in business, financial and investment matters to be able to evaluate
the risks involved in the purchase of the Underlying Shares and to make an informed investment decision with respect to such purchase.


 


(iv)
      I can afford a complete loss of the value of the Option Shares and am able to bear the economic
risk of holding such Option Shares for an indefinite period of time.




    9


     


    


(v)
       I understand that the Option Shares may not be registered under the Securities Act of 1933
(it being understood that the Option Shares are being issued and sold in reliance on the exemption provided in Rule 701 thereunder)
or any applicable state securities or “blue sky” laws and may not be sold or otherwise transferred or disposed of
in the absence of an effective registration statement under the Securities Act of 1933 and under any applicable state securities
or “blue sky” laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates
representing Option Shares will bear restrictive legends reflecting the foregoing and/or that book entries for uncertificated
Option Shares will include similar restrictive notations.


 


	 	Sincerely
    yours,
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 






    10


     


    





NON-QUALIFIED STOCK OPTION AGREEMENT

UNDER THE RAPID MICRO BIOSYSTEMS, INC.


2010 STOCK OPTION AND GRANT
PLAN


 


	Name of Optionee:	As set forth in the grant summary (the “Grant Summary”) on the website to which this agreement is associated (the “Optionee”)
	 	 
	No. of Underlying Shares:	As set forth in the Grant Summary
	 	 
	Grant Date:	As set forth in the Grant Summary
	 	 
	Vesting Commencement Date:	As set forth in the Grant Summary (the “Vesting Commencement Date”)
	 	 
	Expiration Date:	As set forth in the Grant Summary (the “Expiration Date”)
	 	 
	Option Exercise Price/Share:	As set forth in the Grant Summary (the “Option Exercise Price”)


 


Pursuant to the Rapid Micro Biosystems,
Inc. 2010 Stock Option and Grant Plan (the “Plan”), Rapid Micro Biosystems, Inc., a Delaware corporation (together
with any successor thereto, the “Company”), hereby grants to the Optionee, who serves as an officer, employee, director,
or other key person of the Company or any of its Subsidiaries, an option (the “Stock Option”) to purchase on or prior
to the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares of Common Stock, par
value $.01 per share (“Common Stock”), of the Company indicated above (the “Underlying Shares,” and such
shares once issued shall be referred to as the “Option Shares”), at the Option Exercise Price per share, subject to
the terms and conditions set forth in this Non-Qualified Stock Option Agreement (this “Agreement”) and in the Plan.
This Stock Option is not intended to qualify as an “incentive stock option” as defined in Section 422(b) of the Internal
Revenue Code of 1986, as amended from time to time (the “Code”).


 


All capitalized terms used herein
and not otherwise defined shall have the respective meanings set forth in the Plan.


 


		1.	Vesting, Exercisability and Termination.



 


(a)            No
portion of this Stock Option may be exercised until such portion shall have vested and become exercisable.


 


(b)           Subject
to the determination of the Committee in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall
become vested and exercisable as set forth in the Grant Summary. Notwithstanding anything herein to the contrary in the case of
a Sale Event, this Stock Option shall be treated as provided in Section 3(c) of the Plan.



     


     


    


(c)           Termination.
Except as may otherwise be provided by the Committee, if the Optionee’s Service Relationship is terminated, the period within
which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such
period, shall thereafter terminate subject, in each case to Section 3(c) of the Plan):


 


(i)            Termination
Due to Death or Disability. If the Optionee’s Service Relationship terminates by reason of such Optionee’s death
or disability (as defined in Section 422(c) of the Code), this Stock Option may be exercised, to the extent exercisable on the
date of such termination, by the Optionee, the Optionee’s legal representative or legatee for a period of 12 months from
the date of death or disability or until the Expiration Date, if earlier.


 


(ii)           Other
Termination. If the Optionee’s Service Relationship terminates for any reason other than death or disability (as defined
in Section 422(c) of the Code), and unless otherwise determined by the Committee, this Stock Option may be exercised, to the extent
exercisable on the date of termination, for a period of 90 days from the date of termination or until the Expiration Date or other
termination date, if earlier; provided however, if the Optionee’s Service Relationship is terminated for Cause, this
Stock Option shall terminate immediately upon the date of such termination.


 


For purposes hereof, the Committee’s
determination of the reason for termination of the Optionee’s Service Relationship shall be conclusive and binding on the
Optionee and his or her representatives or legatees and any Permitted Transferee. Any portion of this Stock Option that is not
exercisable on the date of termination of the Service Relationship shall terminate immediately and be null and void.


 


		2.	Exercise of Stock Option.



 


(a)           The
Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date, the Optionee may deliver a
Stock Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or her election
to purchase some or all of the Underlying Shares with respect to which this Stock Option is exercisable at the time of such notice.
Such notice shall specify the number of Underlying Shares to be purchased. Payment of the purchase price may be made by one or
more of the methods described in Sections 5(a)(iv)(A), (B), (C), (D) or (E) of the Plan, subject to the limitations contained in
such Sections of the Plan, including the requirement that the Committee specifically approve in advance certain payment methods.


 


(b)           Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date.


 


3.            Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms
and conditions of the Plan.


 


4.            Transferability
of Stock Option. This Agreement is personal to the Optionee and is not transferable by the Optionee in any manner other than
by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime only
by the Optionee (or by the Optionee’s guardian or personal representative in the event of the Optionee’s incapacity).
The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the Company, and
may revoke or change such designation at any time by filing written notice of revocation or change with the Company; such beneficiary
may exercise the Optionee’s Stock Option in the event of the Optionee’s death to the extent provided herein. If the
Optionee does not designate a beneficiary, or if the designated beneficiary predeceases the Optionee, the legal representative
of the Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee’s death.



    2


     


    


5.            Restrictions
on Transfer of Option Shares. The Option Shares acquired upon exercise of the Stock Option shall be subject to certain transfer
restrictions and other limitations including, without limitation, the provisions contained in Section 9 of the Plan.


 


6.            Miscellaneous
Provisions.


 


(a)            Equitable
Relief. The parties hereto agree and declare that legal remedies may be inadequate to enforce the provisions of this Agreement
and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this
Agreement.


 


(b)           Adjustments
for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reincorporation, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common
Stock are increased or decreased or are exchanged for a different number or kind of shares of the Company’s stock, the restrictions
contained in this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee
in exchange for, or by virtue of his or her ownership of, Option Shares.


 


(c)            Change
and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company
and the Optionee.


 


(d)           Governing
Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware
as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal
laws of the Commonwealth of Massachusetts, without regard to conflict of law principles that would result in the application of
any law other than the law of the Commonwealth of Massachusetts.


 


(e)            Headings.
The headings are intended only for convenience in finding the subject matter and do not constitute part of the text of this Agreement
and shall not be considered in the interpretation of this Agreement.


 


(f)            Saving Clause. If any provision(s)
of this Agreement shall be determined to be illegal or unenforceable, such determination shall in no manner affect the legality
or enforceability of any other provision hereof.


 


(g)           Notices.
All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally, by
telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices
to the Company or the Optionee shall be addressed as set forth underneath their signatures below, or to such other address or addresses
as may have been furnished by such party in writing to the other.



    3


     


    


(h)           Benefit
and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective
successors, permitted assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee
shall become entitled to all the rights of the Company hereunder to the extent of such assignment.


 


(i)            Counterparts.
For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same document.


 


7.            Dispute
Resolution.


 


(a)            Except
as provided below, any dispute arising out of or relating to the Plan or this Stock Option, this Agreement, or the breach, termination
or validity of the Plan, this Stock Option or this Agreement, shall be finally settled by binding arbitration conducted expeditiously
in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1 16, and judgment upon the award rendered
by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be Boston, Massachusetts.


 


(b)           The
arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party
and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration,
each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration,
the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration
or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered
within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to
such damages.


 


(c)           The
Company, the Optionee, each party to the Agreement and any other holder of Stock issued pursuant to this Agreement (each, a “Party”)
covenants and agrees that such party will participate in the arbitration in good faith. This Section 7 applies equally to requests
for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief
any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm.



    4


     


    


(d)           Each
Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives
and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the
judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices
are to be given. Each Party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process
by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant
to the laws of such other jurisdiction.


 


[SIGNATURE PAGE FOLLOWS]



    5


     


    


The foregoing Agreement is hereby
accepted and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written.


 


	 	RAPID MICRO BIOSYSTEMS, INC.
	 	 
	 	By:	 
	 	 	Name:
Title:



 


	 	Address:	1001 Pawtucket Blvd West

Lowell, MA 01854



 


Optionee acknowledges receiving and reviewing a copy
of the Plan, including, without limitation, Section 9 thereof, and understands that the Stock Option granted hereby is subject
to the terms of the Plan and of this Agreement. By his or her electronic acceptance of the Stock Option, Optionee agrees to the
terms and conditions of the Plan and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION PROVISIONS IN SECTION 7 OF THIS AGREEMENT.


 


	 	 
	 	 
	[SPOUSE’S CONSENT1

I acknowledge that I
have read the foregoing Non-Qualified Stock Option Agreement and understand the contents thereof.	 
	 	]


 


 

 



1 A spouse’s consent
is required only if the Optionee’s state of residence is one of the following community property states: Arizona, California,
Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.




    6


     


    



	 	DESIGNATED
BENEFICIARY:
	 	 
	 	 
	 	Beneficiary’s Address:
	 	 
	 	 
	 	 




    7


     


    

Appendix A


 


STOCK OPTION EXERCISE NOTICE


 


Rapid Micro Biosystems, Inc.


Attention: Chief Financial Officer


1001 Pawtucket Blvd West


Lowell, MA 01854


 


Pursuant to the terms of the stock
option agreement between the undersigned and Rapid Micro Biosystems, Inc. (the “Company”) dated __________ (the
 “Agreement”) under the Rapid Micro
Biosystems, Inc. 2010 Stock Option and Grant Plan, I, [Insert Name] ________________, hereby [Circle One] partially/fully
exercise such option by including herein payment in the amount of $________ representing the purchase price for [Fill in
number of Underlying Shares] _______ Underlying Shares. I have chosen the following form(s) of payment:


 


	 	[ ]	1.	Cash
	 	[ ]	2.	Certified or bank check payable to Rapid Micro Biosystems, Inc.
	 	[ ]	3.	Other (as
    referenced in the Agreement and described in the Plan (please describe))
	 	 	 	 	.


 


In connection with my exercise of
the option as set forth above, I hereby represent and warrant to the Company as follows:


 


(i)          I
am purchasing the Underlying Shares for my own account for investment only, and not for resale or with a view to the distribution
thereof.


 


(ii)         I
have had such an opportunity as I have deemed adequate to obtain from the Company such information as is necessary to permit me
to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers with respect to my investment
in the Company.


 


(iii)        I
have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase
of the Underlying Shares and to make an informed investment decision with respect to such purchase.


 


(iv)        I
can afford a complete loss of the value of the Option Shares and am able to bear the economic risk of holding such Option Shares
for an indefinite period of time.



    8


     


    


(v)         I
understand that the Option Shares may not be registered under the Securities Act of 1933 (it being understood that the
Option Shares are being issued and sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state
securities or “blue sky” laws and may not be sold or otherwise transferred or disposed of in the absence of an
effective registration statement under the Securities Act of 1933 and under any applicable state securities or “blue
sky” laws (or exemptions from the registration requirement thereof). I further acknowledge that certificates
representing Option Shares will bear restrictive legends reflecting the foregoing and/or that book entries for uncertificated
Option Shares will include similar restrictive notations.


 


	 	Sincerely yours,
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 




    9


     


    




RESTRICTED STOCK AGREEMENT

UNDER THE RAPID MICRO BIOSYSTEMS, INC.


2010 STOCK OPTION AND GRANT PLAN


 


	Name of Grantee:	As set forth in the grant summary (the “Grant Summary”) on the website to which this agreement is associated (the “Grantee”)
	 	 
	No. of Shares:	As set forth in the Grant Summary (the “Shares”)
	 	 
	Grant Date:	As set forth in the Grant Summary
	 	 
	Vesting Commencement Date:	As set forth in the Grant Summary (the “Vesting Commencement Date”)
	 	 
	Per Share Purchase Price:	As set forth in the Grant Summary (the “Per Share Purchase Price”)


 


Pursuant to the Rapid Micro Biosystems,
Inc. 2010 Stock Option and Grant Plan (the “Plan”), Rapid Micro Biosystems, Inc., a Delaware corporation (together
with any successor entity, the “Company”), hereby grants, sells and issues to the individual named above, who serves
as an officer, employee, director, or other key person of the Company or any of the Subsidiaries, the Shares at the Per Share Purchase
Price, subject to the terms and conditions set forth herein and in the Plan. The Grantee agrees to the provisions set forth herein
and acknowledges that each such provision is a material condition of the Company’s agreement to issue and sell the Shares
to him or her. The Company hereby acknowledges receipt of the aggregate purchase price in full payment for the Shares. All references
to share prices and amounts herein shall be equitably adjusted to reflect stock splits, stock dividends, recapitalizations, mergers,
reorganizations and similar changes affecting the capital stock of the Company, and any shares of capital stock of the Company
received on or in respect of Shares in connection with any such event (including any shares of capital stock or any right, option
or warrant to receive the same or any security convertible into or exchangeable for any such shares or received upon conversion
of any such shares) shall be subject to this Agreement on the same basis and extent at the relevant time as the Shares in respect
of which they were issued, and shall be deemed Shares as if and to the same extent they were issued at the date hereof.


 


All capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Plan.


 


		1.	Purchase and Sale of Shares; Vesting; Investment Representations.



 


(a)           Purchase
and Sale. On the date hereof, the Company hereby sells to the Grantee, and the Grantee hereby purchases from the Company, the
number of Shares set forth above for the Per Share Purchase Price.



     


     


    


(b)         
Vesting . On the date of this Agreement, all of the Shares are non-transferable and subject to a substantial risk of forfeiture
and are Shares of Restricted Stock. Subject to the determination of the Committee in its sole discretion to accelerate the vesting
schedule hereunder, the risk of forfeiture shall lapse with respect to the Shares and such Shares shall become vested as set forth
in the Grant Summary. Notwithstanding anything herein to the contrary in the case of a Sale Event, the Shares of Restricted Stock
shall be treated as provided in Section 3(c) of the Plan.


 


(c)          Investment
Representations. In connection with the purchase and sale of the Shares contemplated by Section 1(a) above, the Grantee hereby
represents and warrants to the Company as follows:


 


(i)           The
Grantee is purchasing the Shares for the Grantee’s own account for investment only, and not for resale or with a view to
the distribution thereof.


 


(ii)          The
Grantee has had such an opportunity as he or she has deemed adequate to obtain from the Company such information as is necessary
to permit him or her to evaluate the merits and risks of the Grantee’s investment in the Company and has consulted with the
Grantee’s own advisers with respect to the Grantee’s investment in the Company.


 


(iii)         The
Grantee has sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the
purchase of the Shares and to make an informed investment decision with respect to such purchase.


 


(iv)         The
Grantee can afford a complete loss of the value of the Shares and is able to bear the economic risk of holding such Shares for
an indefinite period.


 


(v)          The
Grantee understands that the Shares are not registered under the Act (it being understood that the Shares are being issued and
sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue sky”
laws and may not be sold or otherwise transferred or disposed of in the absence of an effective registration statement under the
Act and under any applicable state securities or “blue sky” laws (or exemptions from the registration requirements
thereof). The Grantee further acknowledges that certificates representing the Shares will bear restrictive legends reflecting the
foregoing and/or that book entries for uncertificated Shares will include similar restrictive notations.


 


2.            Repurchase
Right. Upon a Termination Event or other Repurchase Event, the Company shall have the right to repurchase the Shares as set
forth in Section 9(c) of the Plan.


 


3.            Restrictions
on Transfer of Shares. The Shares (whether or not vested) shall be subject to certain transfer restrictions and other limitations
including, without limitation, the provisions contained in Section 9 of the Plan.


 


4.            Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Restricted Stock Award shall be subject to and governed by all
the terms and conditions of the Plan.



     2


     

    


5.           
Miscellaneous Provisions.


 


(a)          
Record Owner; Dividends. The Grantee and any Permitted Transferees, during the duration of this Agreement, shall be considered
the record owners of and shall be entitled to vote the Shares if and to the extent the Shares are entitled to voting rights. The
Grantee and any Permitted Transferees shall be entitled to receive all dividends and any other distributions declared on the Shares;
provided, however, that the Company is under no duty to declare any such dividends or to make any such distribution.


 


(b)          
Section 83(b) Election. The Grantee shall consult with the Grantee’s tax advisor to determine whether it would be
appropriate for the Grantee to make an election under Section 83(b) of the Code with respect to this Award. Any such election must
be filed with the Internal Revenue Service within 30 days of the date of this Award. If the Grantee makes an election under Section
83(b) of the Code, the Grantee shall give prompt notice to the Company (and provide a copy of such election to the Company).


 


(c)          
Equitable Relief. The parties hereto agree and declare that legal remedies are inadequate to enforce the provisions of this
Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions
of this Agreement.


 


(d)          
Change and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of
any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by
the Company and the Grantee.


 


(e)          
Governing Law . This Agreement shall be governed by and construed in accordance with the General Corporation Law of the
State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance
with the internal laws of the Commonwealth of Massachusetts, without regard to conflict of law principles that would result in
the application of any law other than the law of the Commonwealth of Massachusetts.


 


(f)           
Headings. The headings are intended only for convenience in finding the subject matter and do not constitute part of the
text of this Agreement and shall not be considered in the interpretation of this Agreement.


 


(g)          
Saving Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination
shall in no manner affect the legality or enforceability of any other provision hereof.


 


(h)          
Notices. All notices, requests, consents and other communications shall be in writing and be deemed given when delivered
personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage
prepaid. Notices to the Company or the Grantee shall be addressed as set forth underneath their signatures below, or to such other
address or addresses as may have been furnished by such party in writing to the other. Notices to any holder of the Shares other
than the Grantee shall be addressed to the address furnished by such holder to the Company.



     3


     

    


(i)           
Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their
respective successors, assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee
shall become entitled to all the rights of the Company hereunder to the extent of such assignment.


 


(j)           
Counterparts. For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document.


 


6.           
Dispute Resolution .


 


(a)           Except
as provided below, any dispute arising out of or relating to the Plan or the Shares, this Agreement, or the breach, termination
or validity of the Plan, the Shares or this Agreement, shall be finally settled by binding arbitration conducted expeditiously
in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1 16, and judgment upon the award rendered
by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be Boston, Massachusetts.


 


(b)           The
arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party
and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration,
each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration,
the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration
or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered
within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to
such damages.


 


(c)           The
Company, the Grantee, each party to the Agreement and any other holder of Shares or Stock issued pursuant to this Agreement (each,
a “Party”) covenants and agrees that such party will participate in the arbitration in good faith. This Section 6 applies
equally to requests for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary
injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable
harm.



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(d)           Each
Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives
and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the
judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices
are to be given. Each Party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process
by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant
to the laws of such other jurisdiction.


 


[SIGNATURE PAGE FOLLOWS]



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IN WITNESS WHEREOF, the Company and the Grantee have executed
this Restricted Stock Agreement as of the date first above written.


 


	 	RAPID MICRO BIOSYSTEMS, INC.
	 	 
	 	By:	 
	 	 	Name:

Title:



 


	 	Address:	1001 Pawtucket Blvd West

Lowell, MA 01854



 


Grantee acknowledges receiving and reviewing a copy of the Plan,
including, without limitation, Section 9 thereof and understands that the Shares granted hereby are subject to the terms of the
Plan and of this Agreement. By his or her electronic acceptance of the Shares, Grantee agrees to the terms and conditions of the
Plan and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION PROVISIONS IN SECTION 6 OF THIS AGREEMENT.


 


	[SPOUSE’S CONSENT1

I acknowledge that I have read the foregoing Restricted Stock
Agreement and understand the contents thereof.	 
	 	]


 


 

 



1 A spouse’s consent is required only if the
Grantee’s state of residence is one of the following community property states: Arizona, California, Idaho, Louisiana, New
Mexico, Nevada, Texas, Washington and Wisconsin.



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