Document:

Exhibit 10.7

 

MaxCyte, Inc.

 

2021
Employee Stock Purchase Plan

 

Adopted
by the Board of Directors: _____________, 2021

Approved
by the Stockholders: ______________, 2021

IPO Date:
______________, 2021

 

1.            General;
Purpose.

 

(a)            The
Plan provides a means by which Eligible Employees of the Company and certain eligible Employees of designated Related Corporations may
be given an opportunity to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to such
Employees under an Employee Stock Purchase Plan. In addition, the Plan permits the Company to grant a series of Purchase Rights to Eligible
Employees that do not meet the requirements of an Employee Stock Purchase Plan.

 

(b)            The
Plan includes two components: a 423 Component and a Non-423 Component. The Company intends (but makes no undertaking or representation
to maintain) the 423 Component to qualify as an Employee Stock Purchase Plan. The provisions of the 423 Component, accordingly, will be
construed in a manner that is consistent with the requirements of Section 423 of the Code. Except as otherwise provided in the Plan
or determined by the Board, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

 

(c)            The
Company, by means of the Plan, seeks to retain the services of Eligible Employees, to secure and retain the services of new Employees
and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations.

 

2.            Administration.

 

(a)            The
Board or the Committee will administer the Plan. References herein to the Board shall be deemed to refer to the Committee except where
context dictates otherwise.

 

(b)            The
Board will have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)            To
determine how and when Purchase Rights will be granted and the provisions of each Offering (which need not be identical).

 

(ii)           To
designate from time to time (A) which Related Corporations will be eligible to participate in the Plan as Designated 423 Corporations,
(B) which Related Corporations or Affiliates will be eligible to participate in the Plan as Designated Non-423 Corporations, and
(C) which Designated Companies will participate in each separate Offering (to the extent that the Company makes separate Offerings).

 

(iii)         To
construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for its administration.
The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent
it deems necessary or expedient to make the Plan fully effective.

 

    

     

    

 

(iv)           To
settle all controversies regarding the Plan and Purchase Rights granted under the Plan.

 

(v)            To
suspend or terminate the Plan at any time as provided in Section 12.

 

(vi)           To
amend the Plan at any time as provided in Section 12.

 

(vii)           Generally,
to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of the Company and its
Related Corporations and Affiliates and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan with respect
to the 423 Component.

 

(viii)        To
adopt such rules, procedures and sub-plans as are necessary or appropriate to permit or facilitate participation in the Plan by Employees
who are non-U.S. nationals or employed or located outside the United States. Without limiting the generality of, and consistent with,
the foregoing, the Board specifically is authorized to adopt rules, procedures, and sub-plans regarding, without limitation, eligibility
to participate in the Plan, the definition of eligible “earnings,” handling and making of Contributions, establishment of
bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination
of beneficiary designation requirements, withholding procedures and handling of share issuances, any of which may vary according to applicable
requirements, and which, if applicable to a Designated Non-423 Corporation, do not have to comply with the requirements of Section 423
of the Code.

 

(c)            The
Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration is delegated to a Committee,
the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been
delegated to the Committee, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized
to exercise (and references in this Plan and any Offering Document to the Board will thereafter be to the Committee or subcommittee),
subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board.
Further, to the extent not prohibited by Applicable Law, the Board or Committee may, from time to time, delegate some or all of its authority
under the Plan to one or more officers of the Company or other persons or groups of persons as it deems necessary, appropriate or advisable
under conditions or limitations that it may set at or after the time of the delegation. References
in this Plan to the Board will thereafter be to the Committee or any delegate of the Committee or Board. The Board may retain the
authority to concurrently administer the Plan with the Committee (or its delegate) and may, at any time, revest in the Board some or all
of the powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee (or its delegate),
the Board will have the final power to determine all questions of policy and expediency that may arise in the administration of the Plan.

 

(d)            All
determinations, interpretations and constructions made by the Board in good faith will not be subject to review by any person and will
be final, binding and conclusive on all persons.

 

3.           Shares
of Common Stock Subject to the Plan.

 

(a)            Subject
to the provisions of Section 11(a) relating to Capitalization Adjustments, the maximum number of shares of Common Stock that
may be issued under the Plan will not exceed [_______]1
shares of Common Stock, plus the number of shares of Common Stock that are automatically added on January 1st of each
year for a period of up to ten years, commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount
equal to the lesser of (i) 1% of the total number of shares of Common Stock outstanding on December 31st of the preceding
calendar year, and (ii) [_______]2
shares of Common Stock. Notwithstanding the foregoing, the Board may act prior to the first day of any calendar year to provide that there
will be no January 1st increase in the share reserve for such calendar year or that the increase in the share reserve
for such calendar year will be a lesser number of shares of Common Stock than would otherwise occur pursuant to the preceding sentence.
For the avoidance of doubt, up to the maximum number of shares of Common Stock reserved under this Section 3(a) may be used
to satisfy purchases of Common Stock under the 423 Component and any remaining portion of such maximum number of shares may be used to
satisfy purchases of Common Stock under the Non-423 Component.

 

 

1 Number of shares will equal 1% of the shares of common
stock.

 

    2

     

    

 

(b)            If
any Purchase Right granted under the Plan terminates without having been exercised in full, the shares of Common Stock not purchased under
such Purchase Right will again become available for issuance under the Plan.

 

(c)            The
stock purchasable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares repurchased by
the Company on the open market.

 

4.            Grant
of Purchase Rights; Offering.

 

(a)            The
Board may from time to time grant or provide for the grant of Purchase Rights to Eligible Employees under an Offering (consisting of one
or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain
such terms and conditions as the Board will deem appropriate, and, with respect to the 423 Component, will comply with the requirement
of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms
and conditions of an Offering shall be incorporated by reference into the Plan and treated as part of the Plan. The provisions of separate
Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference in
the document comprising the Offering or otherwise) the period during which the Offering will be effective, which period will not exceed
27 months beginning with the Offering Date, and the substance of the provisions contained in Sections 5 through 8, inclusive.

 

(b)            If
a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in forms delivered to
the Company or a third party designated by the Company (each, a “Company Designee”): (i) each form will
apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted
Purchase Right, if different Purchase Rights have identical exercise prices) will be exercised to the fullest possible extent before a
Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise prices)
will be exercised.

 

(c)            The
Board will have the discretion to structure an Offering so that if the Fair Market Value of a share of Common Stock on the first Trading
Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock on the Offering
Date for that Offering, then (i) that Offering will terminate immediately as of that first Trading Day, and (ii) the Participants
in such terminated Offering will be automatically enrolled in a new Offering beginning on the first Trading Day of such new Purchase Period.

 

 

2 Number of shares will equal 3% of the shares of
common stock.

 

    3

     

    

 

5.            Eligibility.

 

(a)            Purchase
Rights may be granted only to Employees of the Company or, as the Board may designate in accordance with Section 2(b), to Employees
of a Related Corporation or an Affiliate. Except as provided in Section 5(b) or as required by Applicable Law, an Employee will
not be eligible to be granted Purchase Rights unless, on the Offering Date, the Employee has been in the employ of the Company or the
Related Corporation or an Affiliate, as the case may be, for such continuous period preceding such Offering Date as the Board may require,
but in no event will the required period of continuous employment be equal to or greater than two years. In addition, the Board may (unless
prohibited by Applicable Law) provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on the Offering
Date, such Employee’s customary employment with the Company, the Related Corporation, or the Affiliate is more than 20 hours per
week and more than five months per calendar year or such other criteria as the Board may determine consistent with Section 423 of
the Code with respect to the 423 Component. The Board may also exclude from participation in the Plan or any Offering Employees who are
 “highly compensated employees” (within the meaning of Section 423(b)(4)(D) of the Code) of the Company or a Related
Corporation or an Affiliate or a subset of such highly compensated employees.

 

(b)            The
Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or dates
specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs thereafter, receive
a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of that Offering. Such Purchase Right
will have the same characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that:

 

(i)            the
date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes, including
determination of the exercise price of such Purchase Right;

 

(ii)            the
period of the Offering with respect to such Purchase Right will begin on its Offering Date and end coincident with the end of such Offering;
and

 

(iii)            the
Board may provide that if such person first becomes an Eligible Employee within a specified period of time before the end of the Offering,
he or she will not receive any Purchase Right under that Offering.

 

(c)            No
Employee will be eligible for the grant of any Purchase Rights under the 423 Component if, immediately after any such Purchase Rights
are granted, such Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock
of the Company or of any Related Corporation. For purposes of this Section 5(c), the rules of Section 424(d) of the
Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase
Rights and options will be treated as stock owned by such Employee.

 

(d)            As
specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights under the 423 Component only
if such Purchase Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related
Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any Related Corporation to accrue
at a rate which, when aggregated, exceeds U.S. $25,000 of Fair Market Value of such stock (determined at the time such rights are granted,
and which, with respect to the Plan, will be determined as of their respective Offering Dates) for each calendar year in which such rights
are outstanding at any time.

 

    4

     

    

 

(e)            Officers
of the Company and any Designated Company, if they are otherwise Eligible Employees, will be eligible to participate in Offerings under
the Plan. Notwithstanding the foregoing, the Board may (unless prohibited by Applicable Law) provide in an Offering that Employees who
are highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code will not be eligible to participate.

 

(f)            Notwithstanding
anything in this Section 5 to the contrary, in the case of an Offering under the Non-423 Component, an Eligible Employee (or group
of Eligible Employees) may be excluded from participation in the Plan or an Offering if the Board has determined, in its sole discretion,
that participation of such Eligible Employee(s) is not advisable or practical for any reason (unless prohibited by Applicable Law).

 

(g)            Notwithstanding
anything in this Section 5 or the remaining provisions of the Plan to the contrary, in the case of an Offering under the Non-423
Component, the Board may provide that Consultants of a Designated Non-423 Corporation are eligible to participate in the Plan, provided
the Consultants otherwise meet the eligibility criteria set forth in this Section 5, as determined by the Board (unless prohibited
by Applicable Law) Any references in this Plan to Employees and Eligible Employees shall encompass references to Consultants, as appropriate,
and any reference to employment shall encompass references to services as a Consultant, as appropriate.

 

6.            Purchase
Rights; Purchase Price.

 

(a)            On
each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be granted a Purchase Right to purchase
up to that number of shares of Common Stock purchasable either with a percentage of earnings (as defined by the Board in each Offering)
or with a maximum dollar amount, as designated by the Board, during the period that begins on the Offering Date (or such later date as
the Board determines for a particular Offering) and ends on the date stated in the Offering, which date will be no later than the end
of the Offering.

 

(b)            The
Board will establish one or more Purchase Dates during an Offering on which Purchase Rights granted for that Offering will be exercised
and shares of Common Stock will be purchased in accordance with such Offering.

 

(c)            In
connection with each Offering made under the Plan, the Board may specify (i) a maximum number of shares of Common Stock that may
be purchased by any Participant on any Purchase Date during such Offering, (ii) a maximum aggregate number of shares of Common Stock
that may be purchased by all Participants pursuant to such Offering and/or (iii) a maximum aggregate number of shares of Common Stock
that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate purchase of shares of Common Stock
issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence
of any Board action otherwise, a pro rata (based on each Participant’s accumulated Contributions) allocation of the shares of Common
Stock (rounded down to the nearest whole share) available will be made in as nearly a uniform manner as will be practicable and equitable.

 

(d)            The
purchase price of shares of Common Stock acquired pursuant to Purchase Rights will be not less than the lesser of:

 

(i)            an
amount equal to 85% of the Fair Market Value of the shares of Common Stock on the Offering Date; or

 

(ii)           an
amount equal to 85% of the Fair Market Value of the shares of Common Stock on the applicable Purchase Date.

 

    5

     

    

 

7.            Participation;
Withdrawal; Termination.

 

(a)            An
Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the means of making Contributions by completing
and delivering to the Company or a Company Designee, within the time specified for the Offering, an enrollment form provided by the Company
or Company Designee. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board.
Each Participant’s Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited
with the general funds of the Company except where Applicable Law requires that Contributions be held separately or deposited with a third
party. If permitted in the Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering
Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering,
Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce
(including to zero) or increase his or her Contributions. If required under Applicable Law or if specifically provided in the Offering,
in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through payment by cash,
check or wire transfer prior to a Purchase Date.

 

(b)            During
an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company or a Company Designee
a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal,
such Participant’s Purchase Right in that Offering will immediately terminate and the Company will distribute as soon as practicable
to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that Offering
shall thereupon terminate. A Participant’s withdrawal from that Offering will have no effect upon his or her eligibility to participate
in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent
Offerings.

 

(c)            Unless
otherwise required by Applicable Law, Purchase Rights granted pursuant to any Offering under the Plan will terminate immediately if the
Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period
required by Applicable Law) or (ii) is otherwise no longer eligible to participate. The Company will distribute as soon as practicable
to such individual all of his or her accumulated but unused Contributions, without interest.

 

(d)            Unless
otherwise determined by the Board, a Participant whose employment transfers or whose employment terminates with an immediate rehire (with
no break in service) by or between the Company and a Designated Company or between Designated Companies will not be treated as having
terminated employment for purposes of participating in the Plan or an Offering; however, if a Participant transfers from an Offering under
the 423 Component to an Offering under the Non-423 Component, the exercise of the Participant’s Purchase Right will be qualified
under the 423 Component only to the extent such exercise complies with Section 423 of the Code. If a Participant transfers from an
Offering under the Non-423 Component to an Offering under the 423 Component, the exercise of the Purchase Right will remain non-qualified
under the Non-423 Component. The Board may establish different and additional rules governing transfers between separate Offerings
within the 423 Component and between Offerings under the 423 Component and Offerings under the Non-423 Component.

 

    6

     

    

 

(e)            During
a Participant’s lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by
a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation
as described in Section 10.

 

(f)            Unless
otherwise specified in the Offering or as required by Applicable Law, the Company will have no obligation to pay interest on Contributions.

 

8.            Exercise
of Purchase Rights.

 

(a)            On
each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase of shares of Common Stock, up to
the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the
Offering. No fractional shares will be issued unless specifically provided for in the Offering.

 

(b)            Unless
otherwise provided in the Offering, if any amount of accumulated Contributions remains in a Participant’s account after the purchase
of shares of Common Stock on the final Purchase Date of an Offering, then such remaining amount will not roll over to the next Offering
and will instead be distributed in full to such Participant after the final Purchase Date of such Offering as soon as practicable without
interest (unless otherwise required by Applicable Law).

 

(c)            No
Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan are covered
by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable U.S.
and non-U.S. federal, state, and other securities, exchange control and other laws applicable to the Plan. If on a Purchase Date the shares
of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised on such Purchase Date,
and the Purchase Date will be delayed until the shares of Common Stock are subject to such an effective registration statement and the
Plan is in material compliance, except that the Purchase Date will in no event be more than 27 months from the Offering Date. If, on the
Purchase Date, as delayed to the maximum extent permissible, the shares of Common Stock are not registered and the Plan is not in material
compliance with all Applicable Law, as determined by the Company in its sole discretion, no Purchase Rights will be exercised and all
accumulated but unused Contributions will be distributed to the Participants without interest (unless the payment of interest is otherwise
required by Applicable Law).

 

9.            Covenants
of the Company.

 

The Company will seek to obtain
from each U.S. and non-U.S. federal, state or other regulatory commission, agency or other Governmental Body having jurisdiction over
the Plan such authority as may be required to grant Purchase Rights and issue and sell shares of Common Stock thereunder unless the Company
determines, in its sole discretion, that doing so is not practical or would cause the Company to incur costs that are unreasonable. If,
after commercially reasonable efforts, the Company is unable to obtain the authority that counsel for the Company deems necessary for
the grant of Purchase Rights or the lawful issuance and sale of Common Stock under the Plan, and at a commercially reasonable cost, the
Company will be relieved from any liability for failure to grant Purchase Rights and/or to issue and sell Common Stock upon exercise of
such Purchase Rights.

 

    7

     

    

 

10.          Designation
of Beneficiary.

 

(a)            The
Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any shares of Common
Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before such shares and/or Contributions
are delivered to the Participant. The Company may, but is not obligated to, permit the Participant to change such designation of beneficiary.
Any such designation and/or change must be on a form approved by the Company.

 

(b)            If
a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of Common Stock and/or
Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been appointed (to
the knowledge of the Company), the Company, in its sole discretion, may deliver such shares of Common Stock and/or Contributions, without
interest (unless the payment of interest is otherwise required by Applicable Law), to the Participant’s spouse, dependents or relatives,
or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.

 

11.          Adjustments
upon Changes in Common Stock; Corporate Transactions.

 

(a)            In
the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and maximum
number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities by which
the share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the class(es) and number of securities
subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and (iv) the class(es) and number of
securities that are the subject of the purchase limits under each ongoing Offering. The Board will make these adjustments, and its determination
will be final, binding and conclusive.

 

(b)            In
the event of a Corporate Transaction, then: (i) any surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) may assume or continue outstanding Purchase Rights or may substitute similar rights (including a right
to acquire the same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights, or (ii) if
any surviving or acquiring corporation (or its parent company) does not assume or continue such Purchase Rights or does not substitute
similar rights for such Purchase Rights, then the Participants’ accumulated Contributions will be used to purchase shares of Common
Stock (rounded down to the nearest whole share) within ten business days (or such other period specified by the Board) prior to the Corporate
Transaction under the outstanding Purchase Rights, and the Purchase Rights will terminate immediately after such purchase.

 

12.          Amendment,
Termination or Suspension of the Plan.

 

(a)            The
Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in Section 11(a) relating
to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required
by Applicable Law.

 

(b)            The
Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is suspended or after
it is terminated.

 

    8

     

    

 

Any benefits, privileges,
entitlements and obligations under any outstanding Purchase Rights granted before an amendment, suspension or termination of the Plan
will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom
such Purchase Rights were granted, (ii) as necessary to facilitate compliance with Applicable Law, listing requirements, or governmental
regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive
guidance issued thereunder relating to Employee Stock Purchase Plans) including without limitation any such regulations or other guidance
that may be issued or amended after the date the Plan is adopted by the Board, or (iii) as necessary to obtain or maintain favorable
tax, listing, or regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent
if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies with the requirements of Section 423 of
the Code with respect to the 423 Component or with respect to other Applicable Law. Notwithstanding anything in the Plan or any Offering
Document to the contrary, the Board will be entitled to: (i) establish the exchange ratio applicable to amounts withheld in a currency
other than U.S. dollars; (ii) permit Contributions in excess of the amount designated by a Participant in order to adjust for mistakes
in the Company’s processing of properly completed Contribution elections; (iii) establish reasonable waiting and adjustment
periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant
properly correspond with amounts withheld from the Participant’s Contributions; (iv) amend any outstanding Purchase Rights
or clarify any ambiguities regarding the terms of any Offering to enable the Purchase Rights to qualify under and/or comply with Section 423
of the Code with respect to the 423 Component; and (v) establish other limitations or procedures as the Board determines in its sole
discretion advisable that are consistent with the Plan. The actions of the Board pursuant to this paragraph will not be considered to
alter or impair any Purchase Rights granted under an Offering as they are part of the initial terms of each Offering and the Purchase
Rights granted under each Offering.

 

13.           Tax
Qualification; Tax Withholding.

 

(a)            Although
the Company may endeavor to (i) qualify a Purchase Right for special tax treatment under the laws of the United States or jurisdictions
outside of the United States or (ii) avoid adverse tax treatment, the Company makes no representation to that effect and expressly
disavows any covenant to maintain special or to avoid unfavorable tax treatment, notwithstanding anything to the contrary in this Plan. 
The Company will be unconstrained in its corporate activities without regard to the potential negative tax impact on Participants.

 

(b)            Each
Participant will make arrangements, satisfactory to the Company and any applicable Related Corporation or Affiliate, to enable the Company
or the Related Corporation or Affiliate to fulfill any withholding obligation for Tax-Related Items. Without limitation to the foregoing,
in the Company’s sole discretion and subject to Applicable Law, such withholding obligation may be satisfied in whole or in part
by (i) withholding from the Participant’s salary or any other cash payment due to the Participant from the Company or a Related
Corporation or Affiliate; (ii) withholding from the proceeds of the sale of shares of Common Stock acquired under the Plan, either
through a voluntary sale or a mandatory sale arranged by the Company; or (iii) any other method deemed acceptable by the Board. The
Company shall not be required to issue any shares of Common Stock under the Plan until such obligations are satisfied.

 

14.            Effective
Date of Plan.

 

The Plan will become effective
immediately prior to and contingent upon the IPO Date. No Purchase Rights will be exercised unless and until the Plan has been approved
by the stockholders of the Company, which approval must be within 12 months before or after the date the Plan is adopted (or if required
under Section 12(a) above, materially amended) by the Board.

 

15.           Miscellaneous
Provisions.

 

(a)            Proceeds
from the sale of shares of Common Stock pursuant to Purchase Rights will constitute general funds of the Company.

 

(b)            A
Participant will not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject
to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded
in the books of the Company (or its transfer agent) and all tax withholding obligations have been satisfied.

 

(c)            The
Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering will in any way alter the at will nature
of a Participant’s employment or amend a Participant’s employment contract, if applicable, or be deemed to create in any way
whatsoever any obligation on the part of any Participant to continue in the employ of the Company or a Related Corporation or an Affiliate,
or on the part of the Company, a Related Corporation or an Affiliate to continue the employment of a Participant.

 

    9

     

    

 

(d)            The
provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts of laws rules.

 

(e)            If
any particular provision of the Plan is found to be invalid or otherwise unenforceable, such provision will not affect the other provisions
of the Plan, but the Plan will be construed in all respects as if such invalid provision were omitted.

 

(f)            If
any provision of the Plan does not comply with Applicable Law, such provision shall be construed in such a manner as to comply with Applicable
Law.

 

16.          Definitions.

 

As used in the Plan, the following
definitions will apply to the capitalized terms indicated below:

 

(a)            “423
Component” means the part of the Plan, which excludes the Non-423 Component, pursuant to which Purchase Rights that satisfy
the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees.

 

(b)            “Affiliate”
means any entity, other than a Related Corporation, whether now or subsequently established, which is at the time of determination, a
 “parent” or “subsidiary” of the Company as such terms are defined in Rule 405 promulgated under the Securities
Act. The Board may determine the time or times at which “parent” or “subsidiary” status is determined within the
foregoing definition.

 

(c)            “Applicable
Law” means the Code and any applicable U.S. and non-U.S. securities, federal, state, , material local or municipal or other
law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, listing rule, regulation, judicial
decision, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the authority
of any Governmental Body (or under the authority of the Nasdaq Stock Market or the Financial Industry Regulatory Authority).

 

(d)            “Board”
means the board of directors of the Company.

 

(e)            “Capitalization
Adjustment” means any change that is made in, or other events that occur with respect to, the Common Stock subject to the
Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of consideration by the Company
through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash,
large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure
or other similar equity restructuring transaction, as that term is used in Financial Accounting Standards Board Accounting Standards Codification
Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible securities of the Company will
not be treated as a Capitalization Adjustment.

 

    10

     

    

 

(f)            “Code”
means the Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.

 

(g)            “Committee”
means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with Section 2(c).

 

(h)            “Common
Stock” means the common stock of the Company.

 

(i)            “Company”
means MaxCyte, Inc., a Delaware corporation, and any successor thereto.

 

(j)            “Consultant”
means any person, including an advisor, who is (i) engaged by a Related Corporation or an Affiliate to render consulting or advisory
services or to otherwise act as a service provider and is compensated for such services, or (ii) serving as a member of the board
of directors of a Related Corporation or an Affiliate and is compensated for such services. However, service solely as a Director, or
payment of a fee for such service, will not cause a Director to be considered a “Consultant” for purposes of the Plan. Notwithstanding
the foregoing, a person is treated as a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities
Act is available to register either the offer or the sale of the Company’s securities to such person.

 

(k)            “Contributions”
means the payroll deductions, contributions made by Participants in case payroll deductions are
not permissible or problematic under Applicable Law and other additional payments specifically provided for in the Offering that
a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account
if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld
during the Offering through payroll deductions or other contributions.

 

(l)            “Corporate
Transaction” means the consummation, in a single transaction or in a series of related transactions, of any one or more
of the following events:

 

(i)            a
sale or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of
the Company and its subsidiaries;

 

(ii)            a
sale or other disposition of at least 50% of the outstanding securities of the Company;

 

(iii)            a
merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

 

(iv)            a
merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock outstanding
immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation
or similar transaction into other property, whether in the form of securities, cash or otherwise.

 

(m)            “Designated
423 Corporation” means any Related Corporation selected by the Board to participate in the 423 Component.

 

    11

     

    

 

(n)            “Designated
Company” means any Designated Non-423 Corporation or Designated 423 Corporation, provided, however, that at any given time,
a Related Corporation participating in the 423 Component shall not be a Related Corporation participating in the Non-423 Component.

 

(o)            “Designated
Non-423 Corporation” means any Related Corporation or Affiliate selected by the Board to participate in the Non-423 Component.

 

(p)            “Director”
means a member of the Board.

 

(q)            “Eligible
Employee” means an Employee who meets the requirements set forth in the document(s) governing the Offering for eligibility
to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the
Plan.

 

(r)            “Employee”
means any person, including an Officer or Director, who is “employed” for purposes of Section 423(b)(4) of the Code
by the Company or a Related Corporation, or solely with respect to the Non-423 Component, an Affiliate. However, service solely as a Director,
or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of the Plan.

 

(s)            “Employee
Stock Purchase Plan” means a plan that grants Purchase Rights intended to be options issued under an “employee stock
purchase plan,” as that term is defined in Section 423(b) of the Code.

 

(t)            “Exchange
Act” means the United States Securities Exchange Act of 1934, as amended and the rules and regulations promulgated
thereunder.

 

(u)            “Fair
Market Value” means, as of any date, the value of the Common Stock determined as follows:

 

(i)            If
the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a share of
Common Stock will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest
volume of trading in the Common Stock) on the date of determination, as reported in such source as the Board deems reliable. Unless otherwise
provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value
will be the closing sales price on the last preceding date for which such quotation exists.

 

(ii)            In
the absence of such markets for the Common Stock, the Fair Market Value will be determined by the Board in good faith in compliance with
Applicable Law and, to the extent applicable as determined in the sole discretion of the Board, in a manner that complies with Section 409A
of the Code.

 

(iii)            Notwithstanding
the foregoing, for any Offering that commences on the IPO Date, the Fair Market Value of the shares of Common Stock on the Offering Date
will be the price per share at which shares are first sold to the public in the Company’s initial public offering as specified in
the final prospectus for that initial public offering.

 

(v)            “Governmental
Body” means any: (i) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction
of any nature; (ii) U.S. and non-U.S. federal, state, local, municipal, or other government; (iii) governmental or regulatory
body, or quasi-governmental body of any nature (including any governmental division, department, administrative agency or bureau, commission,
authority, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or entity and any court or other tribunal,
and for the avoidance of doubt, any tax authority) or other body exercising similar powers or authority; or (iv) self-regulatory
organization (including the Nasdaq Stock Market and the Financial Industry Regulatory Authority).

 

    12

     

    

 

(w)            “IPO
Date” means the date of the underwriting agreement between the Company and the underwriters managing the initial public
offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering.

 

(x)            “Non-423
Component” means the part of the Plan, which excludes the 423 Component, pursuant to which Purchase Rights that are not
intended to satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees.

 

(y)            “Offering”
means the grant to Eligible Employees of Purchase Rights, with the exercise of those Purchase Rights automatically occurring at the end
of one or more Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering Document”
approved by the Board for that Offering.

 

(z)            “Offering
Date” means a date selected by the Board for an Offering to commence.

 

(aa)          “Officer”
means a person who is an officer of the Company or a Related Corporation within the meaning of Section 16 of the Exchange Act.

 

(bb)         “Participant”
means an Eligible Employee who holds an outstanding Purchase Right.

 

(cc)         “Plan”
means this MaxCyte, Inc. 2021 Employee Stock Purchase Plan, as amended from time to time, including both the 423 Component and the
Non-423 Component.

 

(dd)         “Purchase
Date” means one or more dates during an Offering selected by the Board on which Purchase Rights will be exercised and on
which purchases of shares of Common Stock will be carried out in accordance with such Offering.

 

(ee)         “Purchase
Period” means a period of time specified within an Offering, generally beginning on the Offering Date or on the first Trading
Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods.

 

(ff)         “Purchase
Right” means an option to purchase shares of Common Stock granted pursuant to the Plan.

 

(gg)         “Related
Corporation” means any “parent corporation” or “subsidiary corporation” of the Company whether now
or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code.

 

(hh)         “Securities
Act” means the United States Securities Act of 1933, as amended.

 

(ii)            “Tax-Related
Items” means any income tax, social insurance, payroll tax, fringe benefit tax, payment on account or other tax-related
items arising out of or in relation to a Participant’s participation in the Plan, including, but not limited to, the exercise of
a Purchase Right and the receipt of shares of Common Stock or the sale or other disposition of shares of Common Stock acquired under the
Plan.

 

    13

     

    

 

(jj)         “Trading
Day” means any day on which the exchange(s) or market(s) on which shares of Common Stock are listed, including
but not limited to the NYSE, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto,
is open for trading.

 

    14Exhibit 10.8

 

INDEMNIFICATION AGREEMENT

 

This
Indemnification Agreement (this “Agreement”) dated as of July ___, 2021, is made by and between
MaxCyte, Inc., a Delaware corporation (the “Company”), and _________________
(“Indemnitee”).

 

Recitals

 

A.            The
Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents.

 

B.            The
Company’s bylaws (the “Bylaws”) require that the Company indemnify its directors and officers, and empowers
the Company to indemnify its employees and agents, as authorized by the Delaware General Corporation Law, as amended (the “Code”),
under which the Company is organized and such Bylaws expressly provide that the indemnification provided therein is not exclusive and
contemplates that the Company may enter into separate agreements with its directors, officers and other persons to set forth specific
indemnification provisions.

 

C.            Indemnitee
does not regard the protection currently provided by applicable law, the Bylaws, the Company’s other governing documents, and available
insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees
and agents of the Company may not be willing to serve or continue to serve in such capacities without additional protection.

 

D.            The
Company desires and has requested Indemnitee to serve or continue to serve as a director, officer, employee or agent of the Company, as
the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity.

 

E.             Indemnitee
is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may be, if Indemnitee
is furnished the indemnity provided for herein by the Company.

 

Agreement

 

Now
Therefore, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1.            Definitions.

 

(a)            Agent.
For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or was a director,
officer, employee, agent, or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or was serving at the
request or for the convenience of, or representing the interests of, the Company or a subsidiary of the Company, as a director, officer,
employee, agent, or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust or other enterprise.

 

    1 

     

    

 

(b)            Change
in Control. For purposes of this Agreement, a “Change in Control” shall
be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company
or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership
of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of the Company representing 20% or more of the total voting power represented by the Company’s then outstanding
Voting Securities, (ii) individuals who on the date of this Agreement are members of the Board (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the members of the Board (provided, however, that if the appointment
or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the
Incumbent Board then still in office, such new member shall be considered as a member of the Incumbent Board), or (iii) the stockholders
of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which
would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by
the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders
of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in
one transaction or a series of transactions) all or substantially all of the Company’s assets.

 

(c)            Expenses.
For purposes of this Agreement, the term “Expenses” shall be broadly construed and shall include, without limitation,
all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’, witness, or other
professional fees and related disbursements, and other out-of-pocket costs of whatever nature, actually and reasonably incurred by Indemnitee
in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing a right to indemnification under
this Agreement, the Code or otherwise. The term “Expenses” shall also include reasonable compensation for time
spent by Indemnitee for which he or she is not compensated by the Company or any subsidiary or third party: (i) for any period during
which Indemnitee is not an Agent, in the employment of, or providing services for compensation to, the Company or any subsidiary; and
(ii) if the rate of compensation and estimated time involved is approved by the directors of the Company who are not parties to any
action with respect to which Expenses are incurred, for Indemnitee while an Agent of, employed by, or providing services for compensation
to, the Company or any subsidiary.

 

(d)            Independent
Counsel. For purposes of this Agreement, the term “Independent Counsel”
means a law firm, or a partner (or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither
presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material
to either such party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards
of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action
to determine Indemnitee’s rights under this Agreement. The Company will pay the reasonable fees and expenses of the Independent
Counsel referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out
of or relating to this Agreement or its engagement pursuant hereto.

 

    2 

     

    

 

(e)            Liabilities.
For purposes of this Agreement, the term “Liabilities” shall be broadly construed and shall include, without
limitation, judgments, damages, deficiencies, liabilities, losses, penalties, excise taxes, fines, assessments and amounts paid in settlement,
including any interest and any federal, state, local or foreign taxes imposed as a result of the actual or deemed receipt of any payment
under this Agreement.

 

(f)             Proceedings.
For purposes of this Agreement, the term “proceeding” shall be broadly construed and shall include, without limitation, any
threatened, pending, or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened or completed proceeding, whether brought in
the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, and whether formal or
informal in any case, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness, or otherwise by
reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii) the fact that any action taken
by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting
as an Agent; or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, and in any such case described
above, whether or not serving in any such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement,
or advancement of Expenses may be provided under this Agreement. If the Indemnitee believes in good faith that a given situation may lead
to or culminate in the institution of a proceeding, this shall be considered a proceeding under this paragraph.

 

(g)            Subsidiary.
For purposes of this Agreement, the term “subsidiary” means any corporation, limited liability company, or other entity, of
which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one
or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit
plan or other enterprise of which Indemnitee is or was serving at the request of the Company as an Agent.

 

(h)            Voting
Securities. For purposes of this Agreement, "Voting Securities" shall
mean any securities of the Company that vote generally in the election of directors.

 

2.            Agreement
to Serve. Indemnitee will serve, or continue to serve, as the case may be, as an Agent, faithfully
and to the best of his or her ability, at the will of such entity designated by the Company and at the request of the Company (or under
separate agreement, if such agreement exists), in the capacity Indemnitee currently serves such entity, so long as Indemnitee is duly
appointed or elected and qualified in accordance with the applicable provisions of the governance documents of such entity, or until such
time as Indemnitee tenders his or her resignation in writing; provided, however, that nothing contained in this Agreement is intended
as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment
of Indemnitee with the Company or any of its subsidiaries in any capacity.

 

    3 

     

    

 

The Company acknowledges that
it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate from its obligations
to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as an Agent, and the Company acknowledges that Indemnitee
is relying upon this Agreement in serving as an Agent.

 

3.            Indemnification.

 

(a)             Indemnification
in Third Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee
to the fullest extent permitted by the Code, as the same may be amended from time to time (but, to the fullest extent of the law, only
to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption of such
amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding, other than a proceeding
by or in the right of the Company to procure a judgment in its favor, for any and all Expenses and Liabilities (including all interest,
assessments and other charges paid or payable in connection with or in respect of such Expenses and Liabilities) incurred by Indemnitee
in connection with the investigation, defense, settlement or appeal of such proceeding, if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding
had no reasonable cause to believe that Indemnitee's conduct was unlawful. The parties hereto intend that this Agreement shall provide
to the fullest extent permitted by law for indemnification in excess of that expressly permitted by statute, including, without limitation,
any indemnification provided by the Certificate of Incorporation of the Company, the Bylaws, vote of its stockholders or disinterested
directors, or applicable law.

 

(b)            Indemnification
in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the
Company shall indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, fullest
extent permitted by applicable law, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the
Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved
in any proceeding by or in the right of the Company to procure a judgment in its favor, against any and all Expenses actually and reasonably
incurred by Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings, if Indemnitee acted in
good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification
for Expenses shall be made under this Section 3(b) in respect of any claim, issue or matter as to which Indemnitee shall have
been finally adjudged by a court competent jurisdiction to be liable to the Company, unless and only to the extent that the Chancery Court
of the State of Delaware or any court in which the proceeding was brought shall determine upon application that, despite the adjudication
of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

 

    4 

     

    

 

4.            Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, in circumstances
where indemnification is not available under Section 3(a) or 3(b), as the case may be, to the fullest extent permitted by law
and to the extent that Indemnitee is a party to (or a participant in) any proceeding and has been successful on the merits or otherwise
in defense of any proceeding or in defense of any claim, issue or matter therein, in whole or part, including the dismissal of any action
without prejudice, the Company shall indemnify Indemnitee against all Expenses and Liabilities in connection with the investigation, defense
or appeal of such proceeding. If Indemnitee is not wholly successful in such proceeding but is successful, on the merits or otherwise,
as to one or more but less than all claims, issues or matters in such proceeding, the Company shall indemnify Indemnitee against all Expenses
and Liabilities incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each successfully resolved claim,
issue or matter to the fullest extent permitted by law.

 

5.            Partial
Indemnification; Witness Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any Expenses and Liabilities incurred by Indemnitee in the investigation,
defense, settlement or appeal of a proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification
for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.
Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee
is, by reason of Indemnitee’s acting as an Agent, a witness or otherwise asked to participate in any proceeding to which Indemnitee
is not a party, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee or on Indemnitee’s behalf in connection
therewith.

 

6.            Advancement
of Expenses. To the extent not prohibited by law, the Company shall advance the Expenses incurred
by Indemnitee in connection with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company
of a statement or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses
but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that would
cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request of the Company,
an undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by a court of competent jurisdiction
in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Advances shall be unsecured,
interest free and without regard to Indemnitee’s ability to repay the Expenses. Advances shall include any and all Expenses incurred
by Indemnitee pursuing an action to enforce Indemnitee’s right to indemnification under this Agreement or otherwise and this right
of advancement, including expenses incurred preparing and forwarding statements to the Company to support the advances claimed. Indemnitee
acknowledges that the execution and delivery of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the
fullest extent required by law, repay the advance (without interest) if and to the extent that it is ultimately determined by a court
of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company.
The right to advances under this Section shall continue until final disposition of any proceeding, including any appeal therein.
This Section 6 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b).

 

    5 

     

    

 

7.            Notice
and Other Indemnification Procedures.

 

(a)            Notification
of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with
any summons, citation, subpoena, complaint, indictment, information or other document relating to any proceeding or matter which may be
subject to indemnification or advancement of Expenses covered hereunder. The written notification to the Company shall include a description
of the nature of the proceeding and the facts underlying the proceeding. The failure of Indemnitee to so notify the Company shall not
relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise and any delay in so notifying
the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement.

 

(b)            Request
for Indemnification Payments. To obtain indemnification under this Agreement, Indemnitee
shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification under the
terms of this Agreement, and shall request payment thereof by the Company.

 

(c)            Determination
of Right to Indemnification Payments. Upon written request by Indemnitee for indemnification
pursuant to the Section 7(b) hereof, a determination with respect to Indemnitee’s entitlement thereto shall be made in
the specific case by one of the following four methods, which shall be at the election of the Board of Directors: (1) by a majority
vote of the disinterested directors, even though less than a quorum, (2) by a committee of disinterested directors designated by
a majority vote of the disinterested directors, even though less than a quorum, (3) if there are no disinterested directors or if
the disinterested directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be
delivered to the Indemnitee, or (4) if so directed by the Board of Directors, by the stockholders of the Company; provided, however,
that if there has been a Change in Control, then such determination shall be made by Independent Counsel selected by Indemnitee and approved
by the Company (which approval shall not be unreasonably withheld). For purposes hereof, disinterested directors are those members of
the board of directors of the Company who are not parties to the action, suit or proceeding in respect of which indemnification is sought
by Indemnitee. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than
sixty (60) days after receipt of the written request of Indemnitee. Claims for advancement of Expenses shall be made under the provisions
of Section 6 herein.

 

(d)            Application
for Enforcement. In the event the Company fails to make timely payments as set forth in Sections
6 or 7(b) above, Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing
Indemnitee’s right to indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or proceeding,
the burden of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not required under
this Agreement or permitted by applicable law. Any determination by the Company (including its Board of Directors, a committee thereof, Independent
Counsel) or stockholders of the Company, that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company
to the action nor create any presumption that Indemnitee is not entitled to indemnification or advancement of Expenses hereunder.

 

    6 

     

    

 

(e)            Indemnification
of Certain Expenses. The Company shall indemnify Indemnitee against all Expenses incurred in
connection with any hearing or proceeding under this Section 7 unless the Company prevails in such hearing or proceeding on the merits
in all material respects.

 

8.            Assumption
of Defense. In the event the Company shall be requested by Indemnitee to pay the Expenses of
any proceeding, the Company, if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent
permissible in such proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the
retention of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the right to employ separate counsel in
such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written
notice to the Company stating that such counsel has reasonably concluded that there may be a conflict of interest between the Company
and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively pursued
the defense of such proceeding within a reasonable time, then in any such event the fees and Expenses of Indemnitee’s counsel to
defend such proceeding shall be subject to the indemnification and advancement of Expenses provisions of this Agreement.

 

9.            Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for Agents (“D&O Insurance”), Indemnitee
shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for
any such Agent under such policy or policies. If, at the time of the receipt of a notice of a
claim pursuant to the terms hereof, the Company has D&O Insurance in effect or otherwise potentially available, the Company shall
give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee,
all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 

10.          Exceptions.

 

(a)            Certain
Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement to indemnify Indemnitee on account of any proceeding with respect to: (i) remuneration paid
to Indemnitee if it is determined by final judgment or other final adjudication that such remuneration was in violation of law (and, in
this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification
for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and that claims for
indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d) below); (ii) a
final judgment rendered against Indemnitee for an accounting, disgorgement or repayment of profits made from the purchase or sale by Indemnitee
of securities of the Company against Indemnitee pursuant to the provisions of Section 16(b) of the Securities Exchange Act of
1934, as amended, or other provisions of any federal, state or local statute or rules and regulations thereunder; or (iii) a
final judgment or other final adjudication that Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately dishonest
or constituted willful misconduct (but only to the extent of such specific determination); or (iv) on account of conduct that is
established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the Company or resulting in any personal
profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing sentence, a final judgment or other adjudication
may be reached in either the underlying proceeding or action in connection with which indemnification is sought or a separate proceeding
or action to establish rights and liabilities under this Agreement.

 

    7 

     

    

 

(b)            Claims
Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall
not be obligated to indemnify or advance Expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee
against the Company or its Agents and not by way of defense, except (i) with respect to proceedings brought to establish or enforce
a right to indemnification or advancement under this Agreement or under any other agreement, provision in the Bylaws or Certificate of
Incorporation or applicable law, or (ii) with respect to any other proceeding initiated by Indemnitee that is either approved by
the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement of Expenses
may be provided by the Company in specific cases if the Board of Directors determines it to be appropriate.

 

(c)            Unauthorized
Settlements. Any provision herein to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding
effected without the Company’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed
settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability
for indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and determines
in good faith that such settlement is not in the best interests of the Company and its stockholders.

 

(d)            Securities
Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not
be obligated pursuant to the terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing
in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Act”),
or in any registration statement filed with the SEC under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation
S-K currently generally requires the Company to undertake in connection with any registration statement filed under the Act to submit
the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Act on public
policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically
agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any such undertaking.

 

(e)            Prior
Payments Any provision herein to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement to indemnify or advance Expenses to Indemnitee under this Agreement for which payment has actually
been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, expect with respect to any excess beyond
the amount paid under any insurance policy or indemnity policy.

 

    8 

     

    

 

11.            Nonexclusivity
and Survival of Rights. The provisions for indemnification and advancement of Expenses set forth
in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of
applicable law, the Company’s Certificate of Incorporation, Bylaws or other agreements, both as to action in Indemnitee’s
official capacity and Indemnitee’s action as an Agent, in any court in which a proceeding is brought, and Indemnitee’s rights
hereunder shall continue after Indemnitee has ceased acting as an Agent and shall inure to the benefit of the heirs, executors, administrators
and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company
and its successors and assigns until terminated in accordance with its terms. The Company shall require any successor (whether direct
or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly
to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform
if no such succession had taken place.

 

No amendment, alteration or
repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of
any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent
that a change in the Code, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would
be afforded currently under the Company’s Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties
hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred
is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every
other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or
remedy by Indemnitee.

 

12.            Term.
This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the date that Indemnitee shall
have ceased to serve as an Agent; or (b) one (1) year after the final termination of any proceeding, including any appeal then
pending, in respect to which Indemnitee was granted rights of indemnification or advancement of Expenses hereunder.

 

No legal action shall be brought
and no cause of action shall be asserted by or in the right of the Company against an Indemnitee or an Indemnitee's estate, spouse, heirs,
executors or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action,
and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal
action within such five-year period; provided, however, that if any shorter period of limitations is otherwise applicable to such cause
of action, such shorter period shall govern.

 

    9 

     

    

 

13.            Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything that may be reasonably
necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to
enforce such rights.

 

14.            Interpretation
of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted
and enforced so as to provide indemnification and advancement of Expenses to Indemnitee to the fullest extent now or hereafter permitted
by law.

 

15.            Severability.
If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (a) the validity,
legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect
to the intent manifested by the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof.

 

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

 

17.            Notice.
Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to or served
upon the parties hereto shall be in writing and, if by electronic transmission, shall be deemed to have been validly served, given or
delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly served, given or delivered
upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered three (3) business days after
deposit in the United States mail, as registered or certified mail, with proper postage prepaid and addressed to the party or parties
to be notified at the addresses set forth on the signature page of this Agreement (or such other address(es) as a party may designate
for itself by like notice). If to the Company, notices and demands shall be delivered to the attention of the General Counsel of the Company.

 

18.            Governing
Law. This Agreement shall be governed exclusively by and construed according to the laws of the
State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware.

 

19.            Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of
which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of
this Agreement.

 

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

 

    10 

     

    

 

21.            Entire
Agreement. Subject to Section 11 hereof, this Agreement constitutes the entire agreement
between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written
and oral, between the parties with respect to the subject matter of this Agreement; provided, however, that this Agreement is a supplement
to and in furtherance of the Company’s Certificate of Incorporation, Bylaws, the Code and any other applicable law, and shall not
be deemed a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder.

 

22.            Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee
for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether
for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim
relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances
of such proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or
transaction(s) giving cause to such proceeding; and/or (ii) the relative fault of the Company and Indemnitee in connection with
such event(s) and/or transaction(s).

 

23.            Consent
to Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally
(i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery
Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United
States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for
purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) agree to appoint, to the extent such
party is not otherwise subject to service of process in the State of Delaware, an agent in the State of Delaware as such party's agent
for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity
as if served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such
action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding
brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

    11 

     

    

 

In
Witness Whereof, the parties hereto have entered into this Agreement effective as of the date first above written.

 

	 	MAXCYTE, INC.
	 	 
	 	By:	 
	 	 	Name:	              
	 	 	Title:	 
	 	 
	 	INDEMNITEE
	 	 
	 	 
	 	Signature of Indemnitee 
	 	 
	 	 
	 	Print or Type Name of Indemnitee

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