Document:

Exhibit 10.3

MASTER SERVICES AGREEMENT

(For All CRO Services)

 

This Master Services Agreement
(this " Agreement") is made as of the            day of         
2017, (the "Effective Date") by and between Cato Research Canada lnc., a Quebec corporation headquartered at 9900 Cavendish
Boulevard, Suite 300, Saint-Laurent, Quebec, Canada H4M 2V2 ("CRC" ), and XORTX Pharma Corp., a form of organization
with offices located at 4000, 421 7th Avenue SW, Calgary, Albe1ta, Canada T2P 4K9 ("XORTX"). Each of
CRC and XORTX may be referenced to herein separately as a "Party" and collectively as the "Parties.'' As used in
this Agreement, "Affiliate(s)" means any corporation, firm, partnership, or other entity which controls, is controlled
by or is under common control with a Party. For the purpose of this definition, "control" shall mean the power to direct,
or cause the direction of: the management and policies of an entity through the ownership, directly or indirectly, of at least
fifty percent (50%) of the voting share capital of such entity or any other comparable equity, by contract, or by ownership interest.

 

WHEREAS, XORTX is
engaged in the evaluation, development, commercialization or marketing of biologics, pharmaceutical agents, medical devices and/or
other life sciences technologies (collectively, "Products"); and

 

WHEREAS, CRC is
a contract research and development organization providing a broad range of services for the evaluation, development, commercialization
or marketing of new biologics, pharmaceutical agents, medical devices and/or other life sciences
technologies; and

 

WHEREAS, XORTX wishes
to retain CRC, and CRC wishes to be retained by XORTX, to assist XORTX with certain aspects of the evaluation, development, commercialization
or marketing of such Products or otherwise to provide certain consulting services as specified by XORTX from time to time; and

 

NOW, THEREFORE, in
consideration of the foregoing premises and the promises, benefits, rights, and obligations set forth below, the Parties agree
as follows:

 

		1.	Work Orders for CRO Services.

 

1.1           CRC
shall provide services to XORTX, as requested by XORTX from time to time in accordance with the terms of this Agreement (the "CRO
Services"). Requested CRO Services may include any area of services customarily undertaken by CRC, including without limitation
the areas of clinical trials, clinical monitoring, site management, medical monitoring and pharmacovigilance or safety services.

 

1.2           If
XORTX wants CRC to perform CRO Services and CRC wishes to perform such Services, the Parties shall prepare a Work Order in a form
acceptable to both Parties, which Work Order shall contain, at a minimum, the CRO Services to be performed and the compensation
therefore. It may also include any other requirements or obligations agreed upon by the Parties and not set forth herein. If CRC
submits a proposal and such proposal is executed by both Parties with the intent that it be performed as a Work Order then it shall
be deemed a Work Order. Each Work Order shall be deemed a part of this Agreement and incorporated into it, but no Work Order shall
be deemed part of another Work Order unless specifically so stated in the applicable Work Order.

 

1.3           CRC
shall not be obligated to perform the CRO Services described in any proposal, draft work order or similar document until such time
as the Work Order related to such CRO Services has been signed by both Parties.

 

CRC Clinical MSA 2015-10-07

 

     

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 2	Master Services Agreement

 

1.4           If
the terms of a Work Order conflict with those of this Agreement, then the terms of this Agreement
shall control unless otherwise specifically stated in the Work Order. If
either Party sends a purchase order, confirmation, or similar form, then the terms of this Agreement and not those in such
additional document shall control; the Parties agree that any additional or different terms in such form, now or in the future,
are void even if the form indicates that it shall control.

 

1.5           Unless
a Work Order specifies to the contrary, CRC may subcontract some or all of its obligations under such Work Order to an Affiliate
provided that such Affiliate is bound by confidentiality obligations at least as protective of XORTX's confidential information
as those in this Agreement. CRC shall be equally responsible for the performance of such Affiliate as CRC would be if it performed
such obligations itself.

 

1.6           If
a Work Order is unclear, ambiguous, or permits different understandings of the CRO Services to be performed, the Parties shall
use good faith efforts to resolve such ambiguity, it being understood that such resolution may result in an adjustment to the budgeted
costs.

 

1.7           If
the scope or definition of the CRO Services changes, including without limitation a change in the number of units of any
CRO Services as specified in the budget for the applicable Work Order, and the additional cost of such additional CRO Services
does not exceed ten percent (10%) of the budget for the CRO Services as set forth in the applicable Work Order, CRC will notify
XORTX of the changes and, upon XORTX's written or email authorization, will commence performance of the additional CRO Services
without a formal Work Order amendment. CRC will thereafter formalize the changes by providing to XORTX a formal amendment to the
Work Order reflecting the authorized changes; XORTX shall timely sign such amendment, but shall nevertheless be obligated to pay
for the additional CRO Services based on the previously-given authorization to proceed even if the Work Order amendment is never
signed. The same process shall be followed with respect to changes requested in excess of ten percent (10%) of the applicable budget;
provided however, CRC shall not be obligated to commence performance of the additional CRO Services without a prior written Work
Order amendment signed by XORTX.

 

1.8           If
any regulations to which the CRO Services are subject are modified, CRC is hereby authorized,
without any action required on the part of XORTX, to immediately commence undertaking the CRO Services in compliance with the revised
regulations without a formal amendment to the applicable Work Orders. To the extent that compliance with the revised regulations
results in an increased cost of the CRO Services, CRC will thereafter formalize the changes by providing to XORTX a formal amendment
to the Work Order reflecting the changes to the cost of the CRO Services reasonably and necessarily incurred as a result of the
regulatory changes. XORTX shall timely sign such amendment t, but shall nevertheless be obligated to pay for necessary and reasonable
additional CRO Services to address the regulatory changes, even if the Work Order amendment is never signed.

 

1.9           Unless
specifically included in an applicable Work Order, CRC will not collect or report to XORTX any payments made which may be reportable
under the Physicians Payment Sunshine Act. If collection and reporting
obligations are specified in an applicable Work Order, CRC shall report the required information based no payments made by CRC,
and CRC shall have no obligations with respect to any payments made by XORTX; XORTX shall aggregate its own information from all
sources and make its report to the Centers for Medicare and Medicaid Services.

 

1.10           Subject
to the terms of Section 1.7 or 1.8, a Work Order may only be amended in writing with the signature of both Parties.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 3	Master Services Agreement

 

		2.	Performance of CRO Services.

 

2.1           CRC
shall use commercially reasonable efforts to perform the CRO Services in accordance with the specifications, instructions, and
guidelines in each Work Order and this Agreement in all material respects. CRC shall use its own protocols in the performance of
CRO Services unless specified to the contrary in the applicable Work Order.

 

2.2           All
CRO Services performed by CRC shall be performed in conformity with all applicable international, federal, state and local laws
and regulations, including without limitation, as applicable, current Good Laboratory Practices, Good Manufacturing Practices,
Good Clinical Practices, TCH Guidelines, and all applicable FDA regulations.

 

3.             XORTX
Obligations. XORTX shall undertake the following obligations with respect to the performance of this Agreement, in addition
to any other obligations outlined herein or in the applicable Work Order.

 

3.1           XORTX
shall use commercially reasonable efforts to deliver all information and materials reasonably required for CRC's performance of
CRO Services in accordance with mutually agreed upon timelines.

 

3.2           XORTX
shall immediately inform CRC of any safety concerns or serious adverse events related to a Product that is the subject of the CRO
Services.

 

3.3           XORTX
shall use commercially reasonable efforts to not take any actions or participate in any activities that are intended to, or can
be reasonably expected to, disrupt or interfere with CRC's obligations under this Agreement.

 

3.4           CRC
believes all data, information and analysis provided and all reports generated as Deliverables (as defined below) will be accurate
and reliable, but XORTX is ultimately and solely responsible for its use of the Deliverables or other matter or information produced
or provided under this Agreement.

 

		4.	Compensation.

 

4.1           XORTX
shall pay CRC for the CRO Services as specified in the Work Order governing such CRO Services. If travel time is not included
in the applicable unit price on the Work Order, then it shall be billed as out of scope work time, with the understanding that,
to the extent practical, travel time shall be used to perform CRO Services for XORTX.

 

Unless otherwise specified
in the applicable Work Order, XORTX shall reimburse CRC for out-of-pocket expenses reasonably incurred in performance of the CRO
Services under this Agreement including, but not limited to, third-party fees and expenses, pass-through expenses, telephone,
facsimile, messenger, postage and other communication costs, document copying and retrieval, on-site and off-site storage fees,
computer research fees and filing fees, reasonable transportation, lodging, and meal expenses for travel to sites away from CRC's
office, and travel between CRC offices (collectively, "Expenses") ; provided however, that advanced written approval
is required from XORTX for any Expense         

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 4	Master Services Agreement

 

4..3           Invoices
for CRO Services and Expenses shall be in Canadian dollars unless the Work Order related to such CRO Services or Expenses specifies
a different currency shall be sent monthly, and shall itemize the CRO Services performed and Expenses incurred.                                   
In addition to paying the amount due with respect to CRO Services and Expenses, XORTX shall also make additional payments for
any federal, state, county, local or governmental taxes, duties, excise taxes, now or hereafter applied including sales tax, value
added tax, or any similar tax. No deduction shall be made from the amount due or paid as a result of any taxes or withholding
that may occur by governments with respect to payments made to CRC from outside Canada or as a result of any taxes paid by XORTX.
Except as specified in Section 4.4, payment shall be in the full amount specified on the invoice. Except as otherwise set forth
below or in an applicable Work Order, any and all payments made hereunder are nonrefundable.

 

4.4           If
XORTX disputes the amount due on any invoice, then XORTX must notify CRC of such dispute before the payment due date and pay such
amount as is undisputed by the payment due date. Both Parties shall act in good faith to promptly resolve such dispute, and upon
resolution of the dispute, any amount remaining due shall be paid within fifteen (15) days after the resolution.

 

4.5           If
all or any undisputed portion of an invoice remains unpaid when due                                    . For the avoidance
of confusion, in calculating finance charges related to disputed invoices, an invoice (or portions thereof, as applicable) shall
be deemed to have been due such that finance charges begin to accrue: (a) thirty (30) days after the date of the original invoice
if the invoice is determined to have been correct; or (b) if the dispute relates to incomplete or incorrect work then fifteen
(15) days after the date on which it is determined all obligations for payment of each disputed amount were met under the Work
Order such that payment of such amount should have been made. XORTX shall reimburse CRC on demand for all reasonable out-of pocket
costs and expenses CRC incurs in enforcing payment of an overdue invoice, including, without limitation, attorneys' fees and expenses.
Payments received from XORTX by CRC on an overdue invoice shall be first applied to costs of collection, then to accrued interest,
and then to the unpaid balance of the invoice. If XORTX has more than one overdue invoice, CRC may, in its discretion, allocate
collection costs among the invoices and apply payments against the invoices.

 

4.6           Except
as otherwise set forth herein, any and all payments made hereunder are nonrefundable.

 

		5.	Term and Termination.

 

5.1           The
term of this Agreement shall be      from the Effective Date and it shall                    
 of any term, a Party gives written notice to the other Party that it does not want to renew this Agreement; provided however,
that if the term of a Work Order extends beyond the term of this Agreement, then this Agreement will continue in effect as to
that Work Order (only) until the completion or termination of such Work Order and all wind-down CRO Services related to such Work
Order.

 

5.2           Either
Party may terminate a Work Order upon the other Party's material default under this Agreement with respect
to such Work Order, provided that the terminating Party has given the defaulting Party not less than thirty (30) days' prior written
notice of such default and the defaulting Party has not cured such default by the end of the notice period. Termination of a Work
Order based on an uncured default does not give rise to the right to terminate any other Work Order or this Agreement.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 5	Master Services Agreement

 

5.3           Except
with respect to Work Orders for clinical trials, either Party may terminate a Work Order at any time upon no less than sixty (60)
days ' prior written notice to the other Party. With respect to Work Orders for clinical trials, only XORTX may terminate at any
time upon no less than sixty (60) days' prior written notice to CRC.

 

5.4           Upon
early termination of a Work Order, CRC shall invoice XORTX and XORTX shall pay CRC for all CRO Services rendered and Expenses incurred
through the date of termination in accordance with Section 4 above. CRC's compensation under any Work Order being paid on a fixed-fee
basis or on any payment schedule which is other than either time-and-materials or a unit-based budget, the Work Order shall be
converted to a time-and-materials basis in accordance with CRC's current rates, and CRC shall be paid for all CRO Services performed
and Expenses incurred through the date of termination.

 

If
XORTX terminates a Work Order under Section 5.3 or CRC terminates a Work Order under Section
5.2, then, in addition to payments made under Section 5.4,                                     
CRC shall use its best efforts to mitigate any costs to XORTX and avoid incurring any non-cancelable obligations after its receipt
of notice of termination.

 

5.6           Any
termination fee paid pursuant to Section 5.5 shall provide XORTX with a "Termination Credit" in the amount paid.                           
 As used in the preceding sentence, "New Work Order" shall mean any Work Order (a) for which the CRO Services commence
not later than twelve (12) months after termination of the Work Order with respect to which the credit was created; and (b) which
is for new CRO Services which are both (i) unrelated to the terminated Work Order and (ii) are not out-of-scope amendments for
any Work Order already in effect. If no New Work Order is executed such that the CRO Services commence not later than twelve (12)
months after termination of the Work Order with respect to which the credit was created, the Termination Credit shall expire.

 

5.7           Upon
early termination of a Work Order, CRC shall inform XORTX of the extent to which it expects work in progress to be completed as
of the termination date and CRC shall (unless otherwise instructed by XORTX) take steps to wind-down work in progress in an orderly
fashion. In addition to all other amounts payable to CRC, XORTX shall pay CRC for such wind-down CRO Services on a time-and materials
basis at CRC ' s current rates for all reasonable and customary wind-down CRO Services performed and Expenses incurred by CRC.
If XORTX instructs CRC not
to complete such wind-down CRO Services, CRC shall, upon notification of the termination of the Work Order, promptly cease providing
CRO Services and incurring costs to the extent practicable. In any such event, XORTX shall be deemed to have released CRC from
all legal liability and to have covenanted not to sue CRC on any claims related to failure to perform and the failure to complete
reasonable and customary wind-down CRO Services.

 

    	 		 

     

    

 

5.8           ln
addition to termination of this Agreement under Sections 5.1-5.3, at any time CRO Services under all Work Orders have been completed
or terminated such that there is no request for CRO Services pending, either Party may terminate this Agreement by giving written
notice of termination to the other Party.

 

5.9           The
remedies set forth in this Section 5 are not meant to limit any additional remedies available to a Party for breach of this Agreement
by the other Party.

 

		6.	Suspension of CRO Services.

 

6.1           If
XORTX should, for any reason, suspend the CRO Services to
be provided under any Work Order for a period of thirty (30) days, then at the end of such thirty (30) day period CRC may invoice
XORTX and XORTX shall pay for all CRO Services which have been performed through the date of suspension which have not been invoiced
previously. For any Work Order being paid on a unit-based budget basis, payment shall be made for each partially completed unit
on a time-and-materials basis related to the CRO Services undertaken for each such unit. For any Work Order being paid on a fixed-fee
basis or on any payment schedule which is other than either time-and-materials or a unit-based budget, all CRO Services performed
shall be converted to a time-and-materials basis in accordance with CRC's current rates and CRC shall be paid for all CRO Services
performed and Expenses incurred through the date of suspension .

 

6.2           CRC
may in its sole discretion suspend its performance of CRO Services if an undisputed invoice is sixty (60) days or more overdue,
and CRC may refrain from resuming performance of CRO Services until all overdue undisputed invoices have been paid in full. If
CRC should suspend the CRO Services pursuant to this Section 6.2, and in the further event that the suspension shall remain in
place for a period of at least thirty (30) days, then at the end of such 30-day period, CRC may invoice XORTX and XORTX shall pay
for all CRO Services which have been performed through the date of suspension which have not been invoiced previously in the same
manner as set forth in Section 6. l .

 

6.3           Any
CRO Services performed related to a Work Order, during a period when it is under suspension shall be invoiced on a time-and-materials
basis at CRCS's then-current rates.

 

6.4           Upon
suspension of CRO Services, CRC may reassign its personnel assigned to the suspended Work Order unless a retainer fee in an amount
to be agreed upon by the Parties at such time is paid in advance of each month during which XORTX wishes to reserve the assigned
personnel. Payment of such retainer will ensure CRC will not reassign the designated personnel such that they are unavailable to
provide the CRO Services upon resumption of CRO Services.

 

6.5           If
any suspension initiated continues for a period of ninety (90) days, then unless either a retainer is being paid pursuant to Section
6.4 or the Parties agree to the contrary, at the end of the 90-day period the Work Order shall be deemed terminated either by XORTX
without cause or by CRC with cause, as applicable, such that the terms of Section 5.5 shall apply .

 

6.6           The
resumption of CRO Services after any suspension shall be subject to any additional costs which may be incurred as a result of the
Work Order having been suspended and then restarted, including without limitation the training of new personnel if the retainer
has not been paid for personnel to remain with the project.

 

CRC Clinical MSA 2015-10-07

 

    	 		 

     

    

 

		7.	Confidential Information.

 

7.1           For
purposes of this Section, the Party disclosing Confidential Information is known as "Disclosing Party" and the Party
receiving information is known as "Receiving Party." As applied to CRC, each of these terms shall include CRC and any
applicable Affiliates within the definition.

 

7.2           "Confidential
Information" means: (i) all information furnished by the Disclosing Party to the Receiving Party in tangible, visible, electronic
or verbal form or by observation or by any other means, including, but not limited to, business plans, protocols, processes, samples,
formulae, chemical entities, compounds, mixtures, prospective and current products, clinical data and analyses, test results, toxicology
and pharmacology information, study procedures and manuals, pharmacy dispensing instructions, case report forms and their content,
statistical reports, project management and staffing, manufacturing processes, nonpublished patent applications, financial data,
forecasts and projections, proprietary software and database structures, research, "know-how," technology under development,
marketing information, agreements \\:ith or proprietary information of third parties, licensors and licensees and strategic partners,
regardless of whether such disclosures are marked or otherwise designated as "Confidential"; and (ii) the terms and conditions
of this Agreement, all proposals and requests for proposals (including those submitted to the Receiving Party prior to the date
of this Agreement and marked as Confidential at the time of delivery), and the existence of the discussions between the Parties
to which this Agreement pertains.

 

7.3          No
information shall be within the above definition of Confidential Information if it:

 

(a)       is
generally known to the public at the time the Disclosing Party discloses it to any a) Receiving Party;

 

(b)       becomes
generally known to the public subsequent to the time of the Disclosing Party's disclosure to any Receiving Party without any fault
or disclosure on the part of such Receiving Party;

 

(c)       was
known to any Receiving Party prior to the disclosure by the Disclosing Party, free of any obligation of confidence, as evidenced
by such Receiving Party's written records;

 

(d)       is
independently developed by such Receiving Party without reference to or reliance on the Confidential information as evidenced by
Receiving Party's written records;

 

(e)       is,
to such Receiving Party's knowledge, rightfully communicated to it free of any obligation of confidence by anyone who is not a
Party to this Agreement; or

 

(f)       is
communicated by the Disclosing Party free of any obligation of confidence to anyone that is not a Party to this Agreement.

 

By way of example and not limitation, information
is not generally known to the public if it is not available without considerable research
or if it can be primarily located in cached memories of materials otherwise deleted from internet sources. Notwithstanding the
foregoing, specific Confidential Information shall not be deemed to be within any of the foregoing exclusions merely because it
is within the scope of more general information within one or more of the exclusions. Further, any combination of Confidential
Information (whether or not combined with non-confidential information) shall not be deemed to be within the above exceptions merely
because one or more individual items of Confidential Information are within the above exceptions. In furtherance but not limitation
of the preceding sentence, any combination of items of Confidential Information shall not be deemed to fall within the foregoing
exclusions merely because any or all of the items are published or otherwise in the rightful possession of the Receiving Party
unless the combination itself and the principle of its use are published or otherwise in the rightful possession of the Receiving
Party.

 

CRC Clinical MSA 2015-10-07

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 8	Master Services Agreement

 

7.4           Receiving
Party shall neither use nor reproduce Disclosing Party's Confidential Information except as necessary for: (a) negotiations, discussions
and consultations with the personnel or authorized representatives of Disclosing Party; or (b) for the purpose of performing its
obligations under this Agreement. Upon completion of the obligations under this Agreement that use the Confidential Information,
or upon termination of this Agreement, Receiving Party shall, when requested by Disclosing Party in writing, promptly return to
Disclosing Party all of the Confidential Information provided by Disclosing Party, except that Receiving Party may retain one (1)
copy for recordkeeping purposes and Receiving Party shall not be required to remove or destroy any Confidential Information contained
on backup media as a result of systematic backups of Receiving Party's computer system, provided that Receiving Party shall not
access such backup media for the purpose of recovering the Confidential Information.

 

7.5           Receiving
Party shall not dis close, without the prior written consent of Disclosing Party, any of Disclosing Party's Confidential Information
to any third party other than Receiving Party' s, and its Affiliate s', directors, officers, employees, agents and consultants,
hospital or institution authorities, Institutional Review Board members, clinical investigators, and others who are involved in
fulfilling Receiving Party's obligations under this Agreement and who, in each case, (a) need to know such information for the
purposes of performing such obligations and (b) are bound by obligations of confidentiality and non-use at least as restrictive
as those set forth herein. With respect to the obligation in 7.5(b) it shall be deemed met as to disclosures by CRC of XORTX' s
confidential information if XORTX has in place a nondisclosure agreement with the third party related to XORTX's Confidential Information.
Receiving Party shall take commercially reasonable steps to prevent the disclosure or use of any such Confidential Information
by Receiving Party's, and its Affiliates, directors, officers, employees, agents or consultants except as provided in this Agreement.

 

7.6           Jf
any Disclosing Party's Confidential Information is required to be disclosed by Receiving Party to any government or regulatory
authority or court entitled by law to disclosure of the same, Receiving Party shall not, unless required by law, order, regulation
or ruling, disclose Confidential Information until the Disclosing Party has first (a) received prompt written notice of such requirement
to disclose and (b) had an adequate opportunity to obtain a protective order or other reliable assurance that confidential treatment
will be accorded to the Confidential Information required to be disclosed. The Receiving Party shall, at the expense of the Disclosing
Party, provide the Disclosing Party with any reasonable assistance requested, and shall not oppose reasonable actions by the Disclosing
Patty to assure confidential treatment. If the Disclosing Party is unable to obtain such protective order or other appropriate
remedy, the Receiving Party and its Representatives will furnish only that portion of the Confidential Information which it is
legally required to furnish. Any disclosure of Confidential Information pursuant to this
Section 7.6 shall not affect or lessen the Receiving Party's obligations hereunder.

 

7.7           For
purposes of this Agreement, the Parties hereby acknowledge and agree that, subject to the exceptions set forth in Section 7.3,
this Agreement shall be considered XORTX's Confidential Information; provided however, that either Party may disclose the terms
of this Agreement to advisors, investors and others on a need-to-know basis under circumstances that reasonably ensure the confidentiality,
nondisclosure and nonuse thereof.

 

7.8           Receiving
Party's obligations under this Section 7 shall terminate with respect to any Confidential Information of Disclosing Party five
(5) years after the date of disclosure.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 9	Master Services Agreement

 

 

8.            Protected
Health Information. The Parties recognize that the Act Respecting the Protection of Personal Information in the Private Sector
requires CRC to protect the privacy and security of protected health information that may be acquired in the course of performing
this Agreement. The Parties agree to comply with this statute and other applicable laws and governmental regulations governing
protected confidential health infom1ation.

 

		9.	Ownership.

 

            Upon
the creation of each Deliverable, XORTX is granted a license to use the Deliverable for the purpose contemplated by the Parties
at the time of its creation. Such license shall terminate upon the earliest of the following: (a) payment of all amounts invoiced
for the Deliverable, at which time XORTX shall own all right, title, and interest in and to all data, information, improvements,
discoveries, inventions, printed materials, and other work product contained therein which is specific to the Deliverable; or
(b) the passage of three (3) months after delivery of the applicable invoice without payment and without any notification from
XORTX that there is a dispute about the invoice; or (c) the passage of one (1)
year after delivery of a disputed invoice with no resolution, provided however, if at such time the invoice is in the process
of formal dispute resolution in mediation, court or arbitration, then thirty (30) days after the date on which the amount due
is finally determined by the finder of fact or by settlement. To the extent not covered by the preceding sentence, and except
as limited by Section 9.2, all copyrights, patents, trade secrets, or other intellectual property rights associated with any ide
as, concepts, techniques, inventions, processes, or works of authorship included in the Deliverable shall be treated in the same
manner as the Deliverable and as specified in the preceding sentence. At such time as XORTX owns the Deliverable and all intellectual
property rights related thereto, CRC irrevocably assigns and transfers to XORTX any and all right, title, or interest CRC may
have in such Deliverable. Upon request of XORTX and at XORTX's expense, CRC shall take such further actions, including execution
and delivery of instruments of conveyance necessary to obtain legal protection in the United States and foreign countries for
such Deliverable and for the purpose of vesting title thereto in XORTX. As used herein, "Deliverable" shall mean reports,
information or other matters which are physically delivered (whether in hard copy or electronically) to XORTX in accordance with
the terms of the Work Order. To the extent the Work Order requires CRC to undertake general consulting services pursuant to which
CRC provides generic explanations or information, only such part of any deliverable which contains XORTX-specific analysis shall
be deemed a Deliverable subject to the terms of this Section 9.l. Notwithstanding any other provision of this Agreement
to the contrary, (x) with respect to Deliverables relating to an invoice for which only a portion of amount due is disputed, if
the disputed and unpaid amount is the lesser of                               

 

 

9.2           Notwithstanding
the foregoing Section 9.1, XORTX acknowledges that within the scope of the business practices of CRC and its Affiliates, they possess
certain inventions, processes, know-how, trade secrets, improvements, other intellectual property and business assets, including
fom1s, templates, analytical methods, protocols, procedures and techniques, computer technical expertise and software, independently
developed or otherwise owned by CRC and its Affiliates and not specifically related to the Deliverables. In addition, during the
course of performing or incidental to the CRO Services, CRC or its Affiliates may develop forms, templates, analytical methods,
protocols, procedures and technique s, functions, computer code, database structures and other property that are not specific to
the general functionality of the Deliverables, not specific to any Product unique to XORTX, and which does not in its generic form
rely on or otherwise incorporate any Confidential information of XORTX (collectively, the "Cato Property" ).

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 10	Master Services Agreement

 

XORTX and CRC agree that any Cato Property
used, improved or modified by CRC or its Affiliates under or during the term of this Agreement shall be deemed Cato Property and
owned solely by CRC or its Affiliates. If any Cato Property is incorporated into the Deliverables, then CRC hereby grants to XORTX
a fully paid-up, non-exclusive, perpetual worldwide license to use such Cato Property (without
representation or warranty and without right to sublicense or otherwise transfer without the prior written consent of CRC), to
the extent necessary to use such Deliverables as was anticipated by the Parties.

 

9.3           CRC
and its Affiliates shall be free to use and employ the general skills, know-how, and expertise of their employees, and to use,
disclose, and employ any generalized ideas, concepts, know-how, methods, techniques, or skills gained or learned by their employees
and consultants during the course of any assignment, so long as they acquire and apply such information without disclosure of any
Confidential Information of XORTX and without any unauthorized use or disclosure of any Deliverable.

 

		10.	Representations and Warranties.

 

10.1           CRC
represents and warrants that CRC has the experience, capability, personnel and resources necessary to perform CRO Services under
this Agreement and each Work Order in a commercially reasonable manner.

 

10.2           XORTX
represents and warrants that it has the ability to comply with and perform all financial obligations under this Agreement. XORTX
further represents and warrants that it owns or otherwise has all necessary rights in and to the Product and all intellectual property
rights therein (including without limitation the patent rights in all Products) so as to permit use of the Product and such intellectual
property by CRC as contemplated in each Work Order; no third party has any right to prevent or to claim a payment is due from CRC
as a result of its use of any Product or of the intellectual property rights therein as contemplated in any Work Order.

 

10.3           Each
Party represents and warrants that (a) it has the corporate power and authority to enter into and perform its obligations under
this Agreement and any Work Order; and (b) entering into and performing this Agreement and any Work Order will not conflict with
or result in a violation of any of the terms or provisions, or constitute a default under any of its organizational documents,
any mortgage, indenture, lease, contract or other agreement or instrument binding upon it or by which any of its properties are
bound, or any permit, concession, franchise, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable
to it or its properties.

 

10.4           Except
as set forth in this Section 10, CRC makes no warranty, either express or implied, including without limitation the warranties
of merchantability, fitness for a particular purpose, title and non infringement as to any matter, and further including but not
limited to the CRO Services, results of CRO Services, any Deliverables or any other matter or information produced or provided
under this Agreement. Without limiting the foregoing, CRC does not warrant, guarantee, or make any warranty regarding the use,
or the results of the use, of the Deliverable, reports, analyses, documents, memoranda or any other matter or information produced
or provided under this Agreement.

 

		11.	CRC Personnel.

 

11.1           CRC
shall be responsible for all aspects of the labor relations of the personnel undertaking the CRO Services including, but not limited
to, wages, benefits, discipline, hiring, firing, promotions, pay raises, overtime, and job assignments. XORTX shall have no power
or authority in these areas. CRC shall ensure the payment of all contributions and taxes imposed by any federal or state governmental
authority with respect to or measured by wages, salaries, or other compensation paid to persons employed to undertake the CRO Services.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 11	Master Services Agreement

 

11.2           XORTX
understands that the performance of CRO Services requires special skills, training and experience. XORTX further understands that
CRC and its Affiliates have expended considerable sums to train their personnel to perform the CRO Services requested by XORTX
from time to time under this Agreement, and CRC will give XORTX access to experienced and highly skilled practitioners. When CRC
or its Affiliates lose personnel, CRC or its applicable Affiliate incurs significant expenses in hiring and training his or her
replacement. Accordingly, during the term of this Agreement and for a period of one (1) year after the termination or expiration
of the last Work Order to terminate or expire under this Agreement, XORTX agrees that it will not without CRC's written permission
and payment of a fee, hire as an employee or independent contractor any employee or independent contractor of CRC or its Affiliates
who has participated in the performance of CRO Services under this Agreement until after the date on which such person has ceased
to be employed or retained by CRC or its applicable Affiliate for a period of not less than twelve (12) months.                        
 Such fee shall be paid in cash no later than thirty (30) days after the date on which such employee begins employment or contractual
work with XORTX. Each CRC Affiliate shall be a third-party beneficiary for the purposes of being able to enforce this Section
11.2.

 

		12.	Indemnification.

 

12.1           XORTX
shall indemnify, defend and hold harmless each CRC Indemnified Party from and against all Losses resulting from, related to or
(as appropriate) alleging any CRC Indemnified Conditions. The foregoing indemnification obligations of XORTX under this Section
12.1 shall not include any Losses incurred by CRC when, and to the extent that, such Losses result from or are related to (a) the
negligence, intentional misconduct or intentional omission of the CRC Indemnified Party, (b) the breach of this Agreement by CRC,
an Affiliate of CRC or any other person for whose actions CRC is liable under this Agreement or applicable law, or (c) the violation
by CRC, its directors, officers, employees or agents of any applicable law, regulation or other government requirement where such
violation was caused by the conduct of the relevant CRC Indemnified Party and where CRC is seeking indemnification due to such
breach.

 

12.2           CRC
shall indemnify, defend and hold harmless each XORTX Indemnified Party from and against all Losses resulting from, related to or
(as appropriate) alleging any XORTX Indemnified Conditions .. The foregoing indemnification obligations of CRC under this Section
12.2 shall not include any losses incurred by XORTX when, and to the extent that, such Losses result or are related to (a) the
negligence, intentional misconduct or intentional omission of the XORTX Indemnified Party; (b) the breach of this Agreement by
XORTX, an affiliate of XORTX, or any other person for whose actions XORTX is liable under this Agreement or applicable law; or
(c) the violation by XORTX, its directors, officers, employees or agents, of any applicable law, regulation or other governmental
requirement. Notwithstanding the foregoing g, CRC shall not be liable for, and this Section 12.2 does not require CRC to provide
indemnification with respect to, the actions or omissions of any third party which CRC hires (excluding Affiliates of CRC) at XORTX'
s request to provide services hereunder.

 

12.3           If
an Indemnified Party receives notice of any claims for which the Indemnified Party wishes to seek indemnity under this Agreement,
then the Indemnified Party shall promptly provide prompt written notice of the claim no later than thirty (30) calendar days following
its notice of the claim to the Party required to provide indemnification by Section 12.1 or 12.2. The failure of an Indemnified
Party to promptly provide such notice will not relieve the indemnifying Party of any indemnification responsibility under this
Section 12, except to the extent, if any, that such failure materially prejudices the ability of the Indemnifying Party to defend
such claims. The indemnifying Party shall have the right to control the defense or settlement of the claims with counsel
of its own choosing provided that such counsel is reasonably acceptable to the Indemnified Party and provided further that the
Indemnified Party will be entitled, at the Indemnified Party's expense, to participate with its own counsel in such defense and
settlement. The Indemnified Party shall at all times cooperate in the investigation and defense of such claims and promptly deliver
to the indemnifying Party (or its counsel) such information related to the basis for the claims as the indemnifying Party (or its
counsel) may reasonably request. If the indemnifying Party declines to assume defense of any
claim, and it is later determined by a court of competent jurisdiction that such claim was eligible for indemnification under Section
12.1 or 12.2, as applicable, then within thirty (30) calendar days following such determination, the Indemnifying Party shall reimburse
the Indemnified Party in full for all judgments, costs and expenses (including reasonable attorneys' fees) incurred in connection
with such claim. The indemnifying Party shall not settle any claim without the prior written consent of the Indemnified Party if
such settlement: (a) materially diminishes any of the Indemnified Party's rights under this Agreement and/or the Work Order or
seeks to impose additional obligations on the Indemnified Party; or (b) arises out of or is a part of any criminal action, suit
or proceeding or contains a stipulation or admission or acknowledgement of any liability or wrongdoing (whether in contract, tort
or otherwise) on the part of the Indemnified Party.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 12	Master Services Agreement

 

12.4        Definitions.
The following definitions apply in this Section 12:

 

(a)           "CRC
Indemnified Party" means CRC and its Affiliates and the directors, officers, employees, consultants and agents of CRC and/or
its Affiliates.

 

(b)           "XORTX Indemnified
Party" means XORTX and its Affiliates and the directors, officers, employees, consultants and agents of XORTX and/or its Affiliates.

 

(c)           "Indemnified Party" means either a CRC
Indemnified Party or an XORTX

 

(d)            "Losses"
mean all liability, loss, costs, claim s, damages, expenses, judgments, awards, and settlements, including (without limitation)
actual attorneys' fees and expenses, whether arising in tort or in contract, in law or in equity. arising from a claim brought
by a third party, in response to any legal proceeding brought by a third party or occurring due to any contractual obligation to
indemnify, defend and/or hold harmless any third party.

 

(e)           "CRC
indemnified Conditions" means:

 

		(i)	the CRO Services;

		(ii)	the use of Deliverable s;

		(iii)	any harm or bodily injury caused by any Product;

		(iv)	the infringement of or use of any intellectual property right or proprietary right in relation
to XORTX's Products, programs, procedures, materials, data, or other information used by, or on behalf ot: or furnished by or on
behalf of, XORTX in connection with this Agreement or the provision of CRO Services under this Agreement;

		(v)	the material breach of this Agreement by XORTX or by any other person for whose actions XORTX is
liable under this Agreement or applicable law;

		(vi)	the negligence, intentional misconduct or intentional omission of XORTX or of any employee, contractor,
agent or representative of XORTX; or

		(vii)	any request for deposition, documents or other information legally
compelled including, without limitation, by subpoena or by agreement made in lieu of subpoena, in connection with XORTX's litigation,
arbitration or other proceeding with any third party where CRC and/or any of its Affiliates are not also a party or in any
investigation of XORTX by any governmental authority.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 13	Master Services Agreement

 

(f)           "XORTX
Indemnified Conditions" means:

 

		(i)	the negligence, intentional misconduct or intentional omission of
CRC or any employee, contractor, agent or representative of CRC;

		(ii)	the material breach of this Agreement by CRC or any other person for whose actions CRC is liable
under applicable law or this Agreement;

		(iii)	the violation by CRC, its directors, officers, employees or agents, of applicable law, regulation
or other governmental requirement;

 

		13.	Insurance.

 

13.l           XORTX
shall maintain in full force and effect customary insurance coverage for all XORTX Product s, clinical trials or other projects
related to the CRO Services, including, without limitation, products liability, general liability, and related insurance coverage
with policy limits in an amount XORTX's senior management reasonably determines to be sufficient to support                Upon completing or
otherwise terminating each clinical trial for which CRC provides CRO Services, XORTX shall purchase and maintain a tail policy
to cover claims first made and/or reported after completion of such clinical trial.

 

13.2           XORTX's
insurance policy(ies) covering any clinical trial shall name CRC and its respective officers, directors and employees as additional
named insureds with a broad form additional insured endorsement (acceptable in form and content to CRC) and shall indicate that
the policy will not be canceled or changed until thirty (30) days after written notice of such cancellation or change is delivered
to CRC. At CRC's request, XORTX shall provide CRC with an additional insured certificate and a copy of the additional insured endorsement
from XORTX's insurance carrier.

 

13.3           CRC
shall maintain in full force and effect, at no cost to XORTX, customary insurance coverage for the CRO Services to be undertaken
under each Work Order with policy limits in an amount CRC' s senior management reasonably determines to be commercially reasonable
under the circumstances.

 

		14.	Limitation of Liability.

 

14.1           XORTX
agrees that, regardless of the form of any claim, XORTX' s sole remedy and CRC's sole obligation with respect to any claims made
related to or arising out of this Agreement shall be governed by this Section.

 

14.2           XORTX's
remedies for defective performance by CRC under this Agreement shall be limited to, at CRC's option, either: (a) correction of
the non-conforming CRO Services, or (b) reimbursements of payments (excluding payments for Expenses) made by XORTX to CRC for such
non conforming CRO Services under the applicable Work Order during the six (6) month period immediately preceding the event for
which the claim is made.

 

       CRC's
obligations for any reason other than as set forth in Section 14 .2              

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 14	Master Services Agreement

 

14.4           It
is expressly agreed that in no event shall CRC, its Affiliates or anyone else who has been involved
in the performance of this Agreement on behalf of CRC be liable for any indirect, consequential, incidental, special, punitive,
or exemplary damages arising from any legal theo ry, even if such person had been apprised of the likelihood of such damages occurring.
XORTX agrees that, notwithstanding the applicable statute of limitations, it may not bring any claim against CRC more than one
(1) year after the cause of action arose.

 

		15.	Investigator and Other Third-Party Payments.

 

15.1           CRC
shall, at XORTX ' s request in a Work Order, disburse payments to investigators, monitors, laboratories or other third parties
contracted with XORTX to provide services with respect to a clinical study for which CRC is providing CRO Services to XORTX (each,
a "Third-Party Contractor") . CRC will disburse all such payments (each, a "Third-Party Contractor Fee") in
accordance with the provisions of the agreement between XORTX and the Third-Party Contractor (each, a "Third -Party Contractor
Agreement"), a copy of which shall be provided to CRC prior to any payment being made. CRC will not unreasonably withhold
any Third-Party Contractor Fee and will not impose additional restrictions on the terms of payment for the Third-Party Contractor
Fee set forth in the Third-Party Contractor Agreement.

 

15.2           XORTX
shall provide CRC with the funds to pay each Third-Party Contractor Fee, plus any related administrative fee, prior to the date
on which CRC is scheduled to disburse such Third-Party Contractor Fee. To the extent payments to any Third-Party Contractors are
to be made in a currency other than Canadian dollars, then contrary to the terms of Section 4.3 to make payment in Canadian dollars,
funds for each such payment shall be made by XORTX in the currency in which the Third-Party Contractor Fee is to be paid. If XORTX
does not provide the funds to CRC, then CRC will not disburse such Third-Party Contractor
Fee until it receives the funds, including any administrative fee, from XORTX. In such event, XORTX shall be deemed to have released
CRC from all legal liability, and to have covenanted to indemnify and not to sue CRC on any claims related to failure to disburse
or otherwise pay the Third-Party Contractor Fee. XORTX agrees that CRC shall not have any liability to XORTX with respect to payments
made to any Third-Party Contractor in accordance with the terms of the applicable Third-Party Contractor Agreement, even if XORTX
would prefer such payment not be made unless XORTX shall have notified CRC prior to the time the payment is due not to make the
payment. If XORTX notifies CRC not to make any payment, XORTX agrees to indemnify CRC with respect to any claims made against it
by the Third Party Contractor related to failure to disburse or otherwise pay the Third-Party Contractor Fee withheld in accordance
with XORTX's instructions.

 

15.3           If
XORTX provides CRC with funds in excess of the total Third-Party Contractor Fees disbursed by CRC (plus any administrative fee
for Third-Party Contractor Fees actually paid), then CRC shall prepare and send a reconciliation of such funds to XORTX within
ninety (90) days after the early termination or expiration of the Work Order under which such Fees were being disbursed. Any excess
funds shall first be applied to undisputed amounts otherwise due to CRC here under, and then any remainder shall be refunded to
XORTX.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 15	Master Services Agreement

 

		16.	Transfer of Responsibilities and Obligations.

 

16.1           If
XORTX, pursuant to a Work Order, requests that CRC enter into agreements with investigators, monitors, laboratories, storage facilities,
clinical material manufacturers or shippers, or other third parties to provide services with respect to a clinical study for which
CRC is providing CRO Services to XORTX (each a "Third-Party Agreement" ), then subject to CRC undertaking its obligations
under each Third-Party Agreement (except as with respect to payment which is governed by Section 16.2), XORTX will assume all obligations
and liabilities under such Third-Party Agreement, including but not limited to all regulatory and legal obligations, and indemnify
CRC for any claims made against CRC for any liability incurred by it as a result of the execution and delivery by CRC of such Third-Party
Agreement (s). Notwithstanding the foregoing, the Parties shall establish a process for review of Third-Party Agreements before
execution, which process shall generally include an agreement on the base form, information provided by XORTX on parameters for
changes, and consultation with XORTX on significant issues outside the parameters. If a Work Order terminates (for any reason)
before completion of the CRO Services specified therein and pursuant to that Work Order, CRC has entered into any Third-Patty Agreements,
CRC shall be free to terminate such Third-Party Agreements and XORTX shall pay all termination fees or other liabilities owed by
CRC or its Affiliates due to such termination.

 

16.2           XORTX
shall provide CRC with the funds to pay each Third-Party Agreement (the "Third- Party Fees"), plus any administrative
fee, before the date on which CRC is scheduled to disburse each such Third-Party Fee. To the extent payments to Third Parties are
to be made in a cmTency other than Canadian dollars, then contrary to the terms of Section 4.3, funds for each such payment shall
be made by XORTX in the currency in which the Third-Party Fee is to be paid. If XORTX does not provide the funds to CRC before
the scheduled payment date, then CRC will not disburse such Third-Party Fee until it receives the funds (including any administrative
fee) from XORTX. CRC shall have no liability to XORTX with respect to payments made to any Third Party in accordance with the terms
of a Third-Party Agreement, even if XORTX would prefer such payment not be made unless XORTX instructs CRC not to make the payment
before CRC does so. If XORTX fails to provide the required funds on a timely basis or notifies CRC to withhold or otherwise not
pay any Third-Party Fees required to be paid under an applicable Third-Party Agreement, then XORTX agrees to indemnify CRC with
respect to any claims made against CRC by the Third Party for failure to make (or delay in making) the payment of the Third-Party
Fees (including, but not limited to, charges for interest and late payment fees). If XORTX provides CRC with funds in excess of
the total Third-Party Fees disbursed by CRC (plus the administrative fee), then CRC shall prepare and send a reconciliation of
such funds to XORTX within ninety (90) days after the early termination or expiration of the Work Order under which such Third-Party
Fees were being disbursed. Any excess Third-Party Fees shall first be applied to undisputed amounts otherwise due to CRC hereunder,
and then any remainder shall be refunded to XORTX.

 

16.3           Transfer
of sponsor obligations with respect to any clinical trial may only be made pursuant to a Work Order, a signed Transfer of Sponsor
Obligation form, and otherwise in accordance with 21 CFR 312.52 and other applicable laws and regulations.

 

		17.	Audits, Inspections and Site Visits.

 

17.           I
XORTX and/or XORTX's representative may, during normal business hours and upon no less than two (2) weeks ' prior notice, meet
with CRC or its applicable Affiliate(s) and their respective employees, consultants, and/or subcontractors engaged in the performance
of CRO Services at CRC or at the location(s) of the facilities used to undertake the CRO Services to: (i) examine and inspect the
facilities used for the performance of CRO Services, (ii) observe the progress of activities relating to the CRO Services; (iii)
inspect and copy or have copied records, documents, information, data, and materials specifically relating to the CRO Services,
and (iv) inspect and copy or have copied financial reports and other documents accounting for the fees, costs and expenses of the
CRO Services.

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 16	Master Services Agreement

 

17.2           CRC
will, during regular business hours and on no less than two (2) weeks' notice, permit a regulatory auditor to have access to CRC's
records pertaining to the CRO Services provided pursuant to this Agreement for the purpose of auditing and verifying such CRO Services.

 

17.3           CRC
will, during regular business hours and on no less than two (2) weeks ' notice, permit a financial auditor to have access to CRC'
s records pertaining to the CRO Services provided pursuant to this Agreement for the purpose of auditing and verifying the billing
for such CRO Services.

 

17.4           At
XORTX 's reasonable request, CRC shall cooperate with any regulatory authorities and allow them to review and copy applicable records
and data related to the CRO Services. If a request is made directly to CRC (or its applicable Affiliate(s)) by any regulatory authority
to review records and data, or to contact, visit, or inspect CRC's (or its applicable Affiliate's or investigator ' s) records
and data, relating to any CRO Services or CRC's (or its applicable Affiliate's or investigator ' s) performance of CRO Services,
then CRC shall notify XORTX as soon as practicable (unless prohibited by law) after such regulatory authority issues or gives to
CRC (or any such of its applicable Affiliate(s) or investigator) any notice of intent to inspect, notice of inspection, notice
of inspectional observations, warning letter, or other written communication concerning any CRO Services, and CRC shall provide
XORTX a copy thereof. To the extent permitted by law, prior to any submission to a regulatory authority of any response that may
be required as a result of the inspection or visit, CRC (its applicable Affiliate(s) or investigator) shall provide XORTX with
the opportunity to review and comment on the proposed response.

 

17.5           All
persons sent by XORTX to undertake such visits, inspections or audits pursuant to Sections 17.1-17.3 shall be qualified by education,
training, and experience, and shall be reasonably acceptable to CRC. The number, extent and frequency of such visits, inspections
or audits shall be reasonable under the circumstances and normally shall not exceed one in every twelve (12) month rolling period.
Unless such person is an employee of XORTX, he or she shall report to XORTX only those facts and conclusions determined as a result
of the visit which are directly related to XORTX ' s interests. All information obtained from an audit shall be Confidential Information
except as otherwise set forth in Section 7.3, above. Unless the visits, inspections and/or audits set forth in Sections 17.1-17.4
are specifically included in a Work Order, XORTX shall, in addition to any other payment obligations under this Agreement, pay
CRC, on a time-and-materials basis, at its current rates for the CRC or Affiliate personnel assigned to supervise or otherwise
participate in or assist administratively with such audit, inspection or visit, including without limitation for any CRC or Affiliate
personnel required to participate in it or meet with the regulatory inspectors.

 

		18.	Force Majeure; Other Delays.

 

18.1           If
either Party is delayed in, hindered in, or prevented from the performance of any act required under this Agreement by reason of
strike, lockout, labor problems, restrictions of government, judicial orders or decrees, riots, insurrection, terrorism, war, acts
of God, inclement weather, or other causes that are beyond the reasonable control of such Party, then performance of such act shall
be excused until the cause is remedied. The delayed Party shall use commercially reasonable efforts to resume performance as soon
as possible. Notwithstanding the foregoing, this Section 18.1 shall not apply to or excuse any failure to make payments when due.

 

    	 		 

     

    

 

18.2           CRC
will not be liable to XORTX nor be deemed to have breached this Agreement for errors, delays or other consequences arising from
the failure of XORTX or any third party not under CRC's direct control to provide documents, materials or information in a timely
manner or otherwise cooperate in order for CRC to perform its obligations, and any such failure by XORTX or any third party not
under CRC's direct control shall automatically extend any timelines affected by such failure by at least the period of the delay
(and such longer period as it may take as a result of the need to suspend and then wind up again), unless XORTX agrees in writing
to pay any additional costs that would be required to meet the original timeline.

 

19.           Independent
Contractor. CRC shall perform CRO Services as an independent contractor. Neither Party has authority to make any statement,
representation, or commitment of any kind nor to take any action binding on the other
Party without the other Party's prior written consent.

 

20.           Use
of XORTX's Name. XORTX agrees that CRC may use XORTX's name as a reference for prospective clients or in literature relating
to CRC's capabilities, provided that such use does not violate Section 7 above.

 

21.           Notification.
Any notices given hereunder shall be in writing and shall be deemed to have been given on the earlier of personal receipt by
an authorized representative of the Party, or receipt at the Party's notice address. Notice may be given by the following means:
registered mail/return receipt requested, overnight courier, or personal delivery. All notices shall be sent to a Party at its
address set forth on the signature page of this Agreement, or to such other address as is given by notice to the other Party. Notices
are deemed given on receipt or attempted delivery (if receipt is refused).

 

22.           Waiver
.. No waiver of any right or remedy with respect to any occurrence or event shall be valid unless it is in writing and executed
by the waiving Party. No such valid waiver shall be deemed a waiver of such right or remedy with respect to such occurrence or
event on a continuing basis or in the future unless the waiver states that it is intended to apply continuously or to future events.
A waiver shall not excuse use a subsequent breach of the same term, unless the waiver so states.

 

23.           Severability.
If any provisions of this Agreement are determined to be invalid or un-enforceable, those provisions shall be reformed to the
extent necessary to comply with law and the Parties' intent, or struck if
necessary, and the validity and effect of the other provisions of this Agreement shall not
be affected.

 

		24.	Contract Interpretation and Dispute Resolution.

 

24.1           The
official language of this Agreement and any interpretation of it is English. All contract interpretations, notices and dispute
resolutions shall be in English. Any attachments or amendments to this Agreement shall be in English. Translation of any of these
documents shall not be construed as official or original versions of the documents.

 

This Agreement has been prepared following
arm's-length negotiations in which each Party had the opportunity to consult with legal counsel regarding the provisions hereof.
Every covenant, term and provision of this Agreement shall be construed according to its fair meaning and not strictly for or against
any Party or Parties.

 

CRC Clinical MSA 2015-10-07

 

    	 		 

     

    

 

24.2           This
Agreement shall be governed by, construed and interpreted in accordance with the laws of the laws of Canada and of the Province
of Quebec, excluding the United Nations Convention on Contracts for the International Sale of Goods, and no conflict-of-laws provision
shall be invoked to permit application of the laws of any other province, country or jurisdiction.

 

24.3           Any
controversy, claim or dispute arising out of, in connection with or relating to this Agreement shall be first submitted to mediation,
which mediation shall take place in Montreal, Quebec, unless another location shall be agreed upon by the Parties. In the event
mediation is not successful, then the dispute shall be resolved in binding arbitration in accordance with the terms of Exhibit
A.

 

24.4           Notwithstanding
Section 24.4, (a) with respect to any uncollected invoice, if CRC shall have inquired as to whether there is a dispute as to whether
payment is due as a result of issues in performance of the CRO Services and received no response or a response that there is no
dispute, then CRC may bring a collection suit in a court resident in the Montreal Urban Community, and XORTX consents to the jurisdiction
of such courts in such matter; and (b) if damages for a breach are not likely to be an adequate remedy, then either Party may commence
injunction proceedings before a court of equity sitting in the Montreal Urban Community, and the Parties hereby consent to the
jurisdiction of such court. Any arbitration award shall be homologated such that it can be put into compulsory execution in accordance
with Articles 946 and following of the Quebec Code of Civil Procedure.

 

25.           Survival.
The representations and warranties of the Parties in Section 10 shall survive the events to which they relate and survive the
expiration or earlier termination of this Agreement and the rights and obligations of the Parties set forth in Sections 3.2, 4,
5, 7 - 17, 20, 24 and 25 shall survive expiration or earlier termination of this Agreement.

 

26.           Assignment.
This Agreement may not be assigned by either Party without the prior written consent of the other Party, which shall not be
unreasonably withheld; provided however, that either Party may assign this Agreement in connection with a merger or the sale of
all or substantially all of the assigning Party' s assets or equity on the condition that such assignment shall be solely to the
acquirer or purchaser of the assigning Party and such acquirer or purchaser must assume the assigning Party's obligations under
this Agreement.

 

27.           Freedom
to Contract. Except with respect to CRO Services for which XORTX specifically hires CRC to perform under this Agreement, (a)
XORTX is not required to use CRC for any specific work; (b) XORTX is free to retain others to perform the same or similar CRO Services
as offered by CRC; (c) CRC is not required to provide any CRO Services to XORTX; and (d) CRC is free to provide CRO Services to
other clients that are similar to CRO Services provided to XORTX.

 

28.           Entire
Agreement. Exhibit A to this Agreement and Work Orders are incorporated into and made a part of this Agreement. This
Agreement, including the incorporated Exhibit A and Work Orders, constitutes the entire agreement between the Parties relating
to the subject matter hereof and supersedes all prior agreement s, whether written or oral, relating to the subject matter hereof;
provided however, that all prior confidentiality, nonuse and nondisclosure agreements shall remain in effect as to all matters
not specifically covered by this Agreement. Except as otherwise authorized herein, changes, modifications, and amendments shall
be valid only if made in writing and signed by both Parties. To be effective, any agreement between the Parties purporting to amend
a term of this Agreement, including without limitation any Work Order, must specifically identify that term ' s Section number
and state the Parties' specific intent to amend that term.

 

CRC Clinical MSA 2015-10-07

 

    	 		 

     

    

 

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 19	Master Services Agreement

 

29.           Signatures.
This Agreement and any amendment or Work Order issued under it may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
Facsimile signatures and signatures transmitted by email after having been scanned shall be accepted as originals for the purposes
of this Agreement and any Work Orders issued hereund er.

 

The Parties have executed this Agreement as
of the date first written above.

 

	Cato Research Canada Inc.	XORTX Pharma Corp.

 

	By:	/s/ Dan Cato	 	By: 	/s/ Allen Davidoff
	 	The signer certifies that he/she has the authority to execute this Master Services Agreement on behalf of Cato Research Canada Inc.	 	 	The signer certifies that he/she has the authority to execute this Master Services Agreement on behalf of XDRTX Pharma Corp.
	 	 	 	 	 
	Name: 	Dan Cato	 	Name: 	Allen Davidoff
	 	 	 	 	 
	Title:	Assistant
    Secretary	 	Title:	President
    & CEO
	 	 	 	 	 
	 	 	 	 	 

 

    	 		 

     

    

 

	 	XORTX Pharma Corp.
	CONFIDENTIAL	Cato Research Canada Inc.
	Page 20	Master Services Agreement

 

EXHIBIT A

ARBITRATION PROCEDURES

 

The following rules shall
apply to any arbitration of the parties under Section 24:

 

1.       Location
and Language. The location of the arbitration shall be in Canada unless the Parties should agree to a different location. The
arbitration shall be conducted in American English and any findings and/or decisions shall be rendered in American English.

 

2.       Number
and Selection of Arbitrator. The arbitration shall be conducted by one arbitrator who is independent and disinterested with
respect to the Parties, this Agreement, and the outcome of the arbitration (a "neut ral arbitrator"). If
the Parties cannot agree on a neutral arbitrator, then each Party shall select an arbitrator it believes to be neutral,
who together shall select a third neutral arbitrator to conduct the arbitration. The arbitrator will be selected with consideration
given to his or her experience with disputes of the type being submitted (e.g., the nature of the claim and the technology involved).
It is the intent of the Parties that the final arbitrator be selected within thi11y (30) days after the arbitration demand is first
made.

 

3.       Case
Management. Prompt resolution of any dispute is important to both Parties and the Parties agree that the arbitration of any
dispute shall be conducted expeditiously. The arbitrator is instructed and directed to assume case management initiative and control
over the arbitration process (including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing),
in order to complete the arbitration as expeditiously as is reasonably practical to obtain a just resolution of the dispute.

 

4.       Remedies.
The arbitrator shall follow and apply the applicable law. The arbitrator shall grant such legal or equitable remedies and relief
in compliance with applicable law that the arbitrator deems just and equitable, but only to the extent that such remedies or relief
could be granted by a state or federal court and as otherwise limited by the terms in this Agreement. No punitive damages may be
awarded by the arbitrator. The arbitrator may not award punitive damages and no court action may be maintained seeking punitive
damages.

 

5.       Expenses.
The expenses of the arbitration, including the arbitrator's fees, expert witness fees, and attorney's fees, may be awarded
to the prevailing Party, in the discretion of the arbitrator, or may be apportioned between the Parties in any manner deemed appropriate
by the arbitrator. Unless and until the arbitrator decides that one Party is to pay for all (or a share) of such expenses, both
Parties shall share equally in the payment of the arbitrator's fees as and when billed by the arbitrator.

 

6.       Confidentiality.
The Parties shall keep confidential the fact of the arbitration, the dispute being arbitrated, and the decision of the arbitrator.
Notwithstanding the foregoing, (a) the Parties may disclose information about the arbitration to persons who have a need to know,
such as directors, trustees, management employees, witnesses, experts, investors, attorneys, lenders, insurers, and others who
may be directly affected; (b) if a Party has stock that is publicly traded, the Party may make such disclosures as are required
by applicable securities laws or listing rules; and (c) if a Party is expressly asked by a Third Party about the dispute or the
arbitration, the Party may disclose and acknowledge in general and limited terms that there is a dispute with the other Party which
is being (or has been) arbitrated.Exhibit
10.4

 

February 1
2021

 

STRICTLY
CONFIDENTIAL

 

Dr. Allen W. Davidoff, Ph.D.

President and Chief Executive
Officer

XORTX Therapeutics, Inc.

 

 

 

		Re:	Advisory Agreement

 

Dear Dr. Davidoff:

 

This letter
(this “Agreement”) constitutes the agreement between XORTX Therapeutics, Inc. (the “Company”)
and David Sans, Ph.D. (“Consultant”), that Consultant shall serve as the exclusive advisor for the purpose
of establishing collaborations or clinical trials to study the effect of XORTX’s products, the Company’s small molecules
(the “Product”), in patients across various clinical indications (the “Services”.)

 

		A.	Fees.
In consideration for the Services, the Company shall pay to Consultant:          

 

		B.	Expenses.
                                         In addition to any fees payable to Consultant hereunder, the Company hereby agrees to
                                         reimburse Consultant for all documented reasonable travel and other out-of-pocket expenses
                                         incurred in connection with Consultant’s engagement hereunder, subject to pre-approval
                                         by the Company for individual expenses over $250 USD. Invoices. Payment shall
                                         be made to the Consultant with respect to the services and expenses referred to in Sections
                                         2.01 and 2.02 above within 14 days from receipt by the Corporation of proper invoices
                                         and vouchers together with a satisfactory progress report in respect of such services
                                         and expenses, all of which shall be submitted by the Consultant to the Corporation on
                                         the 15th and last day of each month during the term of this Agreement.

 

		C.	Term
                                         and Termination of Engagement. The term of this Agreement (the “Term”)
                                         will begin on the date hereof and continue for a duration of twelve months immediately
                                         following the date hereof and may be extended by the parties hereto by mutual written
                                         agreement. The parties shall have the right to terminate this Agreement for any reason
                                         with 30 -day notice. Notwithstanding anything to the contrary contained herein, the provisions
                                         concerning confidentiality, indemnification, contribution and the Company’s obligations
                                         to pay fees, grant options and reimburse expenses contained herein will survive any expiration
                                         or termination of this Agreement.

 

		i)	This
                                         agreement shall be terminated upon the death of the consultant and all pending payments
                                         shall be made to a surviving spouse or the deceased's estate

 

		ii)	Provisions
                                         which Operate Following Termination - Notwithstanding any termination of this Agreement
                                         for any reason whatsoever and with or without cause, the provisions of and any other
                                         provisions of this Agreement necessary to give efficacy thereto shall continue in full
                                         force and effect following any such termination.

 

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		D.	Insurance
                                         The Consultant shall pay for and maintain for the benefit of the Consultant and the
                                         Corporation, with insurers or through the appropriate government department and in an
                                         amount and in a form acceptable to the Corporation, appropriate insurance concerning
                                         the operations and liabilities of the Consultant relevant to this Agreement including,
                                         without limiting the generality of the foregoing, workers' compensation and unemployment
                                         insurance in conformity with applicable statutory requirements in respect of any remuneration
                                         payable by the Consultant to any employees of the Consultant and public liability and
                                         property damage insurance.

 

		E.	Use
                                         of Information. The Company will furnish Consultant such written information as Consultant
                                         reasonably requests in connection with the performance of its Services hereunder. The
                                         Company understands, acknowledges and agrees that, in performing its Services hereunder,
                                         Consultant will use and rely entirely upon such information as well as publicly available
                                         information regarding the Company and other potential parties to a Collaboration and
                                         that Consultant does not assume responsibility for independent verification of the accuracy
                                         or completeness of any information, whether publicly available or otherwise furnished
                                         to it, concerning the Company or otherwise relevant to a Collaboration, including, without
                                         limitation, any financial information, forecasts or projections considered by Consultant
                                         in connection with the provision of its services.

 

		F.	Inventions
                                         and Patents In the event In the event the Consultant contributes to any patentable
                                         invention as a result of his consultative services to the Corporation hereunder, any
                                         such patentable invention shall be the exclusive property of the Corporation and the
                                         Corporation shall have the exclusive right to file patent applications in the name of
                                         the Corporation in connection therewith and the Consultant shall co-operate with the
                                         Corporation and provide all necessary assistance in the filing and prosecution of such
                                         patent applications.

 

		G.	Confidentiality

 

		i.	The
                                         Consultant shall not (either during the term of this Agreement or at any time thereafter)
                                         disclose any information relating to the private or confidential affairs of the Corporation
                                         or relating to any secrets of the Corporation to any person other than for the Corporation's
                                         purposes and, without limiting the generality of the foregoing, the Consultant shall
                                         not (either during the term of this Agreement or at any time thereafter) disclose information
                                         covered by the confidentiality agreement entered into by the consultant and XORTX Therapeutics,
                                         to any person other than for the Corporation's purposes and shall not (either during
                                         the term of this Agreement or at any time thereafter) use for his own purposes or for
                                         any purposes other than those of the Corporation any such information or secrets he may
                                         acquire in relation to the business of XORTX Therapeutics. (collectively referred to
                                         as “Confidential Information”).

 

		ii.	For
                                         greater clarity, Confidential Information does not include general knowledge you acquire
                                         during the term of this Agreement that is not proprietary to the Corporation, provided
                                         that such general knowledge is a product of the Consultant’s memory and unaided
                                         by data, documents, agreements, files or other materials of the Corporation in any form.

 

		iii.	The
                                         Consultant shall obtain a written non-disclosure agreement in a form acceptable to the
                                         Corporation in respect of the same information and secrets referred to in Section 3.07(1)
                                         from all persons, including but not limited to any employees of the Consultant, who are
                                         in any way involved with the Consultant in the provision of consultative services to
                                         the Corporation hereunder and in the course thereof may have access to any information
                                         or secrets referred to in Section 3.07(1) and the Consultant shall provide the Corporation
                                         with executed copies of any such non-disclosure agreement.

 

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		H.	Indemnity.

 

		i.	In
                                         connection with the Company’s engagement of Consultant hereunder, the Company hereby
                                         agrees to indemnify and hold harmless Consultant from and against any and all claims,
                                         actions, suits, proceedings (including those of shareholders), damages, liabilities and
                                         expenses incurred by him (including the reasonable fees and expenses of counsel), (collectively
                                         a “Claim”), which (A) result from (i) any actions taken or omitted
                                         to be taken (including any untrue statements made or any statements omitted to be made)
                                         by the Company, or (ii) any actions taken or omitted to be taken by Consultant in connection
                                         with the Company’s engagement of Consultant hereunder , or (B) otherwise result
                                         from Consultant’s activities on the Company’s behalf under Consultant’s
                                         engagement hereunder, and the Company shall advance to Consultant all reasonable and
                                         documented expenses (including the reasonable fees and expenses of counsel) incurred
                                         by Consultant in connection with investigating, preparing or defending any such claim,
                                         action, suit or proceeding, whether or not in connection with pending or threatened litigation
                                         in which Consultant is a party. The Company will not, however, be responsible for any
                                         Claim, which is finally determined (whether judicially or pursuant to binding arbitration)
                                         to have resulted from the gross negligence or willful misconduct of any person seeking
                                         indemnification for such Claim.

 

		ii.	The
                                         Company further agrees that it will not, without the prior written consent of Consultant,
                                         settle, compromise or consent to the entry of any judgment in any pending or threatened
                                         Claim in respect of which indemnification may be sought hereunder (whether or not Consultant
                                         is an actual or potential party to such Claim), unless such settlement, compromise or
                                         consent includes an unconditional, irrevocable release of Consultant from any and all
                                         liability arising out of such Claim.

 

		iii.	Promptly
                                         upon receipt by Consultant of notice of any complaint or the assertion or institution
                                         of any Claim with respect to which indemnification is being sought hereunder, Consultant
                                         shall notify the Company in writing of such complaint or of such assertion or institution
                                         but failure to so notify the Company shall not relieve the Company from any obligation
                                         it may have hereunder, except and only to the extent such failure prejudices the Company.
                                         If the Company so elects or is requested by Consultant, the Company will assume the defense
                                         of such Claim, including the employment of counsel reasonably satisfactory to Consultant
                                         and the payment of the fees and expenses of such counsel. In the event, however, that
                                         legal counsel to Consultant reasonably determines that having common counsel would present
                                         such counsel with a conflict of interest or if the defendant in, or target of, any such
                                         Claim, includes Consultant and the Company, and legal counsel to Consultant reasonably
                                         concludes that there may be legal defenses available to Consultant that are different
                                         from or in addition to those available to the Company, then Consultant may employ its
                                         own separate counsel to represent or defend him in any such Claim, and the Company shall
                                         pay the reasonable fees and expenses of such counsel. Notwithstanding anything herein
                                         to the contrary, if the Company fails timely or diligently to defend, contest, or otherwise
                                         protect against any Claim, Consultant shall have the right, but not the obligation, to
                                         defend, contest, compromise, settle, assert crossclaims, or counterclaims or otherwise
                                         protect against the same, and shall be fully indemnified by the Company therefor, in
                                         accordance with the terms hereof, including without limitation, for the reasonable fees
                                         and expenses of its counsel and all amounts paid as a result of such Claim or the compromise
                                         or settlement thereof. In addition, with respect to any Claim in which the Company assumes
                                         the defense, Consultant shall have the right to participate in such Claim and to retain
                                         his own counsel therefor at his own expense.

 

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		iv.	The
                                         Company agrees that if any indemnity sought by Consultant hereunder is held by a court
                                         to be unavailable for any reason then the Company and Consultant shall contribute to
                                         the Claim for which such indemnity is held unavailable in such proportion as is appropriate
                                         to reflect the relative benefits to the Company, on the one hand, and Consultant on the
                                         other, in connection with Consultant’s engagement referred to above.

 

		v.	The
                                         Company’s indemnity, reimbursement and contribution obligations under this Agreement
                                         (a) shall be in addition to, and shall in no way limit or otherwise adversely affect
                                         any rights that Consultant may have at law or at equity and (b) shall be effective whether
                                         or not the Company is at fault in any way.

 

		I.	Limitation
                                         of Engagement to the Company. The Company acknowledges that Consultant has been retained
                                         only by the Company, that Consultant is providing services hereunder as an independent
                                         contractor (and not in any fiduciary or agency capacity) and that the Company’s
                                         engagement of Consultant is not deemed to be on behalf of, and is not intended to confer
                                         rights upon, any shareholder, owner or partner of the Company or any other person not
                                         a party hereto as against Consultant or any of his affiliates, or any of his or their
                                         respective officers, directors, controlling persons (within the meaning of Section 15
                                         of the Act or Section 20 of the Securities Exchange Act of 1934), employees or agents.
                                         Unless otherwise expressly agreed in writing by Consultant, no one other than the Company
                                         is authorized to rely upon this Agreement or any other statements or conduct of Consultant,
                                         and no one other than the parties hereto is intended to be a beneficiary of this Agreement.
                                         The Company acknowledges that any recommendation or advice, written or oral, given by
                                         Consultant to the Company in connection with Consultant’s engagement is intended
                                         solely for the benefit and use of the Company’s management and directors in considering
                                         a possible Collaboration, and any such recommendation or advice is not on behalf of,
                                         and shall not confer any rights or remedies upon, any other person or be used or relied
                                         upon for any other purpose. Consultant shall not have the authority to make any commitment
                                         binding on the Company, and no partnership or joint venture is formed or intended by
                                         this Agreement.

 

		i.	The
                                         Consultant is not an employee of the Corporation and shall not be entitled to receive
                                         from the Corporation any employee related benefits, either under the Ontario Employment
                                         Standards Act, 2000, as amended from time to time, or otherwise. The Corporation
                                         shall not be required to make contributions to unemployment insurance, Canada Pension
                                         Plan, workers' compensation and other similar levies in respect of the fee for services
                                         to be paid to the Consultant.

 

		ii.	Consultant
                                         shall not contract on behalf of the Corporation - The Consultant shall not, without the
                                         prior written consent of the Corporation, enter into any contract or commitment in the
                                         name of or on behalf of the Corporation or bind the Corporation in any respect whatsoever.

 

		iii.	This
                                         agreement supersedes all prior agreements between The Company and Consultant.

 

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		J.	Limitation
                                         of Consultant’s Liability to the Company. Consultant and the Company further
                                         agree that neither Consultant (within the meaning of Section 15 of the Act or Section
                                         20 of the Exchange Act of 1934), shall have any liability to the Company, its security
                                         holders or creditors, or any person asserting claims on behalf of or in the right of
                                         the Company (whether direct or indirect, in contract, tort, for an act of negligence
                                         or otherwise) for any losses, fees, damages, liabilities, costs, expenses or equitable
                                         relief arising out of or relating to this Agreement or the Services rendered hereunder,
                                         except for losses, fees, damages, liabilities, costs or expenses that arise out of or
                                         are based on any action of or failure to act by Consultant other than those that were
                                         finally judicially determined to have resulted solely from the gross negligence or willful
                                         misconduct of Consultant.

 

		K.	Governing
                                         Law. This Agreement shall be governed by and construed in accordance with the laws
                                         of the State of New York applicable to agreements made and to be fully performed therein.
                                         Any dispute, controversy, or claim arising out of or relating to this Agreement, or a
                                         breach thereof, shall be determined by final, binding arbitration administered by the
                                         International Center for Dispute Resolution of the American Arbitration Association (“ICDR”)
                                         in accordance with its International Arbitration Rules (“ICDR Rules”).
                                         Upon request of any party hereto, the ICDR shall apply its International Expedited Procedures.
                                         The arbitration shall be conducted by a single arbitrator (“Arbitrator”)
                                         selected pursuant to the ICDR Rules. The place of arbitration shall be New York, New
                                         York. The language of the arbitration shall be English. The ICDR and/or the Arbitrator
                                         shall be expressly empowered to enter Emergency Measures of Protection pursuant to Article
                                         6 of the ICDR Rules and Interim Measures pursuant to Article 24 of the ICDR Rules. The
                                         ICDR and/or the Arbitrator shall not condition such measures on provision of security
                                         by the requesting party. The fact of the arbitration, all documents or information created,
                                         discovered, or shared in connection with the arbitration, and the arbitration award or
                                         other documents generated by the ICDR or the Arbitrator shall be confidential information
                                         subject to the terms of the Confidentiality Agreement. The parties hereto irrevocably
                                         and unconditionally consent to submit to the exclusive jurisdiction of the courts of
                                         the state of New York and of the United States District Courts located in the Borough
                                         of Manhattan, New York City, New York, for any lawsuits, actions or other proceedings
                                         to confirm or enforce the arbitration award and agree not to commence any such lawsuit,
                                         action or other proceeding (including any lawsuit, action or other proceeding seeking
                                         to challenge or vacate such an award) except in such courts. To the extent any party
                                         hereto initiates such an action, lawsuit, or proceeding, the parties hereto agree to
                                         take all steps necessary and appropriate to cause all records of the proceedings of such
                                         action, lawsuit, or proceeding to be sealed to the fullest extent allowable under the
                                         law. The parties hereto hereby irrevocably and unconditionally waive any objection to
                                         the laying of venue of any lawsuit, action or other proceeding arising out of or relating
                                         to this Agreement in the courts of the state of New York or the United States District
                                         Courts located in the Borough of Manhattan, New York City, New York, and hereby further
                                         irrevocably and unconditionally waive and agree not to plead or claim in any such court
                                         that any such lawsuit, action or other proceeding brought in any such court has been
                                         brought in an inconvenient forum. ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LAWSUIT,
                                         CLAIM OR OTHER PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT IS EXPRESSLY AND
                                         IRREVOCABLY WAIVED.

 

		L.	Notices.
All notices hereunder will be in writing and sent by certified mail, hand delivery, overnight delivery or email, if sent to Consultant,
to the address set forth on the first page hereof, or email                                            Notices sent by certified
mail shall be deemed received five days thereafter, and notices sent by hand delivery or overnight delivery shall be deemed received
on the date of the relevant written record of receipt. Notices sent by email shall be effective when sent, provided that such
sent e-mail is kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive
an automatically generated message from the recipient’s e-mail server that such e-mail could not be delivered to such recipient.

 

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		M.	Miscellaneous.
                                         This Agreement shall not be modified or amended except in writing signed by Consultant
                                         and the Company. No provision of this Agreement may be waived except in a writing executed
                                         by the party against whom the waiver is to be effective. This Agreement may not be assigned
                                         by Consultant without the prior written consent of the Company. This Agreement shall
                                         be binding upon and inure to the benefit of each of Consultant and the Company and their
                                         respective successors and permitted assigns. This Agreement constitutes the entire agreement
                                         of Consultant and the Company with respect to the subject matter hereof and supersedes
                                         any prior or contemporaneous agreements (other than the Confidentiality Agreement). If
                                         any provision of this Agreement is determined to be invalid or unenforceable in any respect,
                                         such determination will not affect such provision in any other respect, and the remainder
                                         of the Agreement shall remain in full force and effect. This Agreement may be executed
                                         in counterparts (including facsimile counterparts or other electronic signatures, including
                                         by email attachment), each of which shall be deemed an original but all of which together
                                         shall constitute one and the same instrument.

 

[signature
page follows]

 

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In
acknowledgment that the foregoing correctly sets forth the understanding reached by Consultant and the Company, please sign in
the space provided below with                             this Agreement shall become binding as of the date first set
forth above.

  

	 	 	 	Yours truly,
	 	 	 	 
	 	 	 	CONSULTANT
	 	 	 	 	 
	 	 	 	By: 	/s/ David Sans
	 	 	 		Name: David Sans
	 	 	 		Title:   Consultant
	 	 	 	 	 
	Accepted and agreed to as of	 	 	 
	the date first written above:	 	 	 
	XORTX Therapeutics, Inc.	 	 	 
	 	 	 	 	 
	By:	/s/ Allen Davidoff	 	 	 
	 	Name: Allen Davidoff	 	 	 
	 	Title:   CEO, President	 	 	 

 

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