Document:

Exhibit 10.2

 

form of Public
COMPANY SUPPORT AGREEMENT

 

This Support Agreement (this
 “Agreement”) is made and entered into as of [●], 2021, by and among Tempest Therapeutics, Inc. a Delaware corporation
(“Merger Partner”), Millendo Therapeutics, Inc., a Delaware corporation (“Public Company”), and
the undersigned stockholder (the “Stockholder”) of Public Company.

 

RECITALS

 

WHEREAS, concurrently with
the execution and delivery hereof, Public Company, Merger Partner and Mars Merger Corp., a Delaware corporation and a wholly owned subsidiary
of Public Company (the “Merger Sub”), have entered into an agreement and plan of merger (as such agreement may be amended
or supplemented from time to time pursuant to the terms thereof, the “Merger Agreement”), pursuant to which Merger
Sub will merge with and into Merger Partner, with Merger Partner surviving the merger as the surviving corporation and a wholly owned
subsidiary of Public Company (the “Merger”).

 

WHEREAS, the Stockholder is
the beneficial owner (as defined in Rule 13d-1 under the Exchange Act) of such number of shares of Public Company Common Stock as indicated
in Appendix A.

 

WHEREAS, as an inducement
to the willingness of Merger Partner to enter into the Merger Agreement, Merger Partner has required that Stockholder enter into this
Agreement.

 

NOW, THEREFORE, intending
to be legally bound, the parties hereby agree as follows:

 

1.            
Certain Definitions. Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed thereto in the Merger Agreement. For all purposes of this Agreement, the following terms shall have the following respective
meanings:

 

(a)               
“Constructive Sale” means, with respect to any security, a short sale with respect
to such security, entering into or acquiring a derivative contract with respect to such security, entering into or acquiring a futures
or forward contract to deliver such security or entering into any other hedging or other derivative transaction that has the effect of
either directly or indirectly materially changing the economic benefits or risks of ownership of such security.

 

(b)               
“Shares” means (i) all shares of Public Company Common Stock owned, beneficially
or of record, by the Stockholder as of the date hereof, and (ii) all additional shares of Public Company Common Stock acquired by the
Stockholder, beneficially or of record, during the period commencing with the execution and delivery of this Agreement and expiring on
the Closing Date.

 

(c)                “Transfer”
or “Transferred” means, with respect to any security, the direct or indirect assignment, sale, transfer, tender,
exchange, pledge or hypothecation, or the grant, creation or suffrage of a lien, security interest or encumbrance in or upon, or the
gift, grant or placement in trust, or the Constructive Sale or other disposition of such security (including transfers by
testamentary or intestate succession, by domestic relations order or other court order, or otherwise by operation of law) or
any right, title or interest therein (including any right or power to vote to which the holder thereof may be entitled, whether such
right or power is granted by proxy or otherwise), or the record or beneficial ownership thereof, the offer to make such a sale,
transfer, Constructive Sale or other disposition, and each agreement, arrangement or understanding, whether or not in writing, to
effect any of the foregoing.

 

    Exhibit A-3 – Page 1

     

    

 

2.            
Transfer and Voting Restrictions. The Stockholder covenants to Merger Partner as follows:

 

(a)               
During the period commencing with the execution and delivery of this Agreement and expiring on the
Expiration Date (as defined below), the Stockholder shall not Transfer any of the Stockholder’s Shares, or publicly announce its
intention to Transfer any of its Shares.

 

(b)               
Except as otherwise permitted by this Agreement or by order of a court of competent jurisdiction,
the Stockholder will not commit any act that would restrict the Stockholder’s legal power, authority and right to vote all of the
Shares held by the Stockholder or otherwise prevent or disable the Stockholder from performing any of his, her or its obligations under
this Agreement. Without limiting the generality of the foregoing, except for this Agreement and as otherwise permitted by this Agreement,
the Stockholder shall not enter into any voting agreement with any person or entity with respect to any of the Stockholder’s Shares,
grant any person or entity any proxy (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposit any Shares
in a voting trust or otherwise enter into any agreement or arrangement with any person or entity limiting or affecting the Stockholder’s
legal power, authority or right to vote the Stockholder’s Shares in favor of the Public Company Voting Proposals.

 

(c)               
Notwithstanding anything else herein to the contrary, the Stockholder may, at any time, Transfer
Shares (i) by will or other testamentary document or by intestacy, (ii) to any investment fund or other entity controlled or managed by
the Stockholder, (iii) to any member of the Stockholder’s immediate family or (iv) to any trust for the direct or indirect benefit
of the Stockholder or the immediate family of the Stockholder or otherwise for estate planning purposes; provided, that (x) such
Transferred Shares shall continue to be bound by this Agreement and (y) the applicable transferee shall have executed and delivered to
Public Company and Merger Partner a support agreement substantially identical to this Agreement upon consummation of such Transfer.

 

3.            
Agreement to Vote Shares. The Stockholder covenants to Merger Partner as follows:

 

(a)               
Until the Expiration Date (as defined below), at any meeting of the stockholders of Public Company,
however called, and at every adjournment or postponement thereof, and on every action or approval by written consent of the stockholders
of Public Company, the Stockholder shall be present (in person or by proxy) and vote, or exercise its right to consent with respect to,
all Shares held by the Stockholder (A) in favor of the Public Company Voting Proposals and (B) against any Acquisition Proposal. 

 

    Exhibit
                                            A-3 – Page 2

     

    

 

(b)               
 If the Stockholder is the beneficial owner, but not the record holder, of Shares, the Stockholder
shall cause the record holder and any nominees to be present (in person or by proxy) and vote all the Stockholder’s Shares in accordance
with this Section 3.

 

(c)               
In the event of a stock split, stock dividend or distribution, or any change in the capital stock
of Public Company by reason of any split-up, reverse stock split, recapitalization, combination, reclassification, reincorporation, exchange
of shares or the like, the term “Shares” shall be deemed to refer to and include such shares as well as all such stock dividends
and distributions and any securities into which or for which any or all of such shares may be changed or exchanged or which are received
in such transaction.

 

4.            
Action in Stockholder Capacity Only. The Stockholder is entering into this Agreement solely
in the Stockholder’s capacity as a record holder and beneficial owner, as applicable, of its Shares and not in the Stockholder’s
capacity as a director or officer of Public Company. Nothing herein shall limit or affect the Stockholder’s ability to act as an
officer or director of Public Company.

 

5.            
Documentation and Information. The Stockholder shall permit and hereby authorizes Public Company
and Merger Partner to publish and disclose in all documents and schedules filed with the SEC, and any press release or other disclosure
document that Public Company or Merger Partner reasonably determines to be necessary in connection with the transactions contemplated
by the Merger Agreement, such Stockholder’s identity and ownership of the Share and the nature of such Stockholder’s commitments
and obligations under this Agreement. Each of Public Company and Merger Partner is an intended third-party beneficiary of this Section
5.

 

6.            
Irrevocable Proxy. The Stockholder hereby revokes (or agrees to cause to be revoked) any proxies
that the Stockholder has heretofore granted with respect to its Shares. In the event and to the extent that the Stockholder fails to vote
the Shares in accordance with Section 3 at any applicable meeting of the stockholders of Public Company or pursuant to any applicable
written consent of the stockholders of Public Company, the Stockholder shall be deemed to have irrevocably granted to, and appointed,
Merger Partner, and any individual designated in writing by Merger Partner, and each of them individually, as his, her or its proxy and
attorney-in-fact (with full power of substitution), for and in its name, place and stead, to vote his, her or its Shares in any action
by written consent of Public Company stockholders or at any meeting of the Public Company stockholders called with respect to any of the
matters specified in, and in accordance and consistent with, Section 3 of this Agreement. Merger Partner agrees not to exercise
the proxy granted herein for any purpose other than the purposes described in this Agreement. Except as otherwise provided for herein,
the Stockholder hereby affirms that the irrevocable proxy is coupled with an interest and may under no circumstances be revoked and that
such irrevocable proxy is executed and intended to be irrevocable. Notwithstanding any other provisions of this Agreement, the irrevocable
proxy granted hereunder shall automatically terminate upon the termination of this Agreement.

 

7.             No
Solicitation. Subject to Section 4, the Stockholder agrees not to, directly or indirectly, including through any of its
officers, directors or agents, (a) solicit, seek or initiate or knowingly take any action to facilitate or encourage, any offers,
inquiries or the making of any proposal or offer that constitutes, or could reasonably be expected to lead to, any
Acquisition Proposal or (b) enter into, continue or otherwise participate or engage in any discussions or negotiations regarding any
Acquisition Proposal, or furnish to any person any non-public information or afford any person, other than Public Company or
Merger Partner, as applicable, access to such party’s property, books or records (except pursuant to a request by a
Governmental Entity) in connection with, any Acquisition Proposal; provided, however, that nothing in this Section
7 shall prevent the Stockholder from referring a person to this Section 7 or to the Merger Agreement.

 

    Exhibit
                                            A-3 – Page 3

     

    

 

8.            
Representations and Warranties of the Stockholder. The Stockholder hereby represents and warrants
to Merger Partner as follows:

 

(a)               
(i) The Stockholder is the beneficial or record owner of the shares of Public Company Common Stock
indicated in Appendix A (each of which shall be deemed to be “held” by the Stockholder for purposes of Section 3
unless otherwise expressly stated with respect to any shares in Appendix A), free and clear of any and all Liens; and (ii) the
Stockholder does not beneficially own any securities of Public Company other than the shares of Public Company Common Stock and rights
to purchase shares of Public Company Common Stock set forth in Appendix A.

 

(b)               
Except as otherwise provided in this Agreement, the Stockholder has full power and authority to (i)
make, enter into and carry out the terms of this Agreement and (ii) vote all of its Shares in the manner set forth in this Agreement without
the consent or approval of, or any other action on the part of, any other person or entity (including any Governmental Entity). Without
limiting the generality of the foregoing, the Stockholder has not entered into any voting agreement (other than this Agreement) with any
person with respect to any of the Stockholder’s Shares, granted any person any proxy (revocable or irrevocable) or power of attorney
with respect to any of the Stockholder’s Shares, deposited any of the Stockholder’s Shares in a voting trust or entered into
any arrangement or agreement with any person limiting or affecting the Stockholder’s legal power, authority or right to vote the
Stockholder’s Shares on any matter.

 

(c)               
This Agreement has been duly and validly executed and delivered by the Stockholder and (assuming
the due authorization, execution and delivery by the other parties hereto) constitutes a valid and binding agreement of the Stockholder
enforceable against the Stockholder in accordance with its terms, subject to the Bankruptcy and Equity Exception. The execution and delivery
of this Agreement by the Stockholder and the performance by the Stockholder of the agreements and obligations hereunder will not result
in any breach or violation of or be in conflict with or constitute a default under any term of any Contract or if applicable any provision
of an organizational document (including a certificate of incorporation) to or by which the Stockholder is a party or bound, or any applicable
law to which the Stockholder (or any of the Stockholder’s assets) is subject or bound, except for any such breach, violation, conflict
or default which, individually or in the aggregate, would not reasonably be expected to materially impair or adversely affect the Stockholder’s
ability to perform its obligations under this Agreement.

 

    Exhibit
                                            A-3 – Page 4

     

    

 

(d)               
 The Stockholder has had the opportunity to review the Merger Agreement and this Agreement with the
Stockholder’s legal counsel. The Stockholder understands and acknowledges that Merger Partner is entering into the Merger Agreement
in reliance upon the Stockholder’s execution, delivery and performance of this Agreement.

 

(e)               
The execution, delivery and performance of this Agreement by the Stockholder do not and will not
require any consent, approval, authorization or permit of, action by, filing with or notification to, any Governmental Entity, except
for any such consent, approval, authorization, permit, action, filing or notification the failure of which to make or obtain, individually
or in the aggregate, has not and would not materially impair the Stockholder’s ability to perform its obligations under this Agreement.

 

(f)                
With respect to the Stockholder, as of the date hereof, there is no action, suit, investigation or
proceeding pending against, or, to the knowledge of the Stockholder, threatened against, the Stockholder or any of the Stockholder’s
properties or assets (including the Shares) that would reasonably be expected to prevent or materially delay or impair the ability of
the Stockholder to perform its obligations hereunder or to consummate the transactions contemplated hereby.

 

(g)               
Neither the Stockholder nor any of its Representatives or Affiliates has employed or made any agreement
with any broker, finder or similar agent or any Person which will result in the obligation of such Stockholder, Public Company, Merger
Partner, or any of their respective Affiliates to pay any finder’s fee, brokerage fees or commission or similar payment in connection
with the transactions contemplated hereby.

 

9.            
Termination. This Agreement shall terminate and shall cease to be of any further force or
effect as of the earlier of (a) such date and time as the Merger Agreement shall have been terminated pursuant to the terms thereof or
(b) the date on which the Public Company Voting Proposals shall have been approved by the requisite holders of Public Company Common Stock
(the “Expiration Date”); provided, however, that (i) Section 10 shall survive
the termination of this Agreement, and (ii) the termination of this Agreement shall not relieve any party hereto from any liability for
any material and willful breach of this Agreement prior to the Expiration Date.

 

10.           
Miscellaneous Provisions.

 

(a)               
Amendments. No amendment of this Agreement shall be effective against any party unless it
shall be in writing and signed by each of the parties hereto.

 

(b)               
Entire Agreement. This Agreement constitutes the entire agreement between the parties to this
Agreement and supersedes all other prior agreements, arrangements and understandings, both written and oral, among the parties with respect
to the subject matter hereof.

 

(c)                Governing
Law. All matters arising out of or relating to this Agreement and the transactions contemplated hereby (including its
interpretation, construction, performance and enforcement) shall be governed by and construed in accordance with the internal laws
of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of
Delaware or any other jurisdiction) that would cause the application of laws of any jurisdictions other than those of the State of
Delaware.

 

    Exhibit
                                            A-3 – Page 5

     

    

 

(d)               
Jurisdiction. Each of the parties to this Agreement (i) consents to submit itself to the exclusive
personal jurisdiction of the Court of Chancery of the State of Delaware, New Castle County, or, if that court does not have jurisdiction,
a federal court sitting in Wilmington, Delaware in any action or proceeding arising out of or relating to this Agreement or any of the
transactions contemplated by this Agreement, (ii) agrees that all claims in respect of such action or proceeding shall be heard and determined
in any such court, (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for
leave from any such court and (iv) agrees not to bring any action or proceeding arising out of or relating to this Agreement or any of
the transactions contemplated by this Agreement in any other court. Each of the parties hereto waives any defense of inconvenient forum
to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that might be required of any
other party with respect thereto. Any party may make service on another party by sending or delivering a copy of the process to the party
to be served at the address and in the manner provided for the giving of notices in Section 10(j). Nothing in this Section 10(d),
however, shall affect the right of any party to serve legal process in any other manner permitted by law.

 

(e)               
WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF ANY PARTY TO THIS AGREEMENT IN THE NEGOTIATION, ADMINISTRATION,
PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT.

 

(f)                
Assignment. Except as otherwise provided in Section 2(c) hereof, no party may assign
any of its rights or delegate any of its performance obligations under this Agreement, in whole or in part, by operation of law or otherwise,
without the prior written consent of the other parties hereto, and any such assignment without such prior written consent shall be null
and void. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of, and be enforceable by, the
parties hereto and their respective successors and permitted assigns. Any purported assignment of rights or delegation of performance
obligations in violation of this Section 10(f) is void.

 

(g)               
No Third Party Rights. This Agreement is not intended to, and shall not, confer upon any other
person any rights or remedies hereunder other than the parties hereto to the extent expressly set forth herein.

 

(h)                Severability.
Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction shall not affect the
validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or
provision in any other situation or in any other jurisdiction. If the final judgment of a court of competent jurisdiction declares
that any term or provision hereof is invalid or unenforceable, the parties hereto agree that the court making such determination
shall have the power to limit the term or provision, to delete specific words or phrases, or to replace any invalid or
unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the
intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified. In the event
such court does not exercise the power granted to it in the prior sentence, the parties hereto agree to replace such invalid or
unenforceable term or provision with a valid and enforceable term or provision that will achieve, to the extent possible, the
economic, business and other purposes of such invalid or unenforceable term.

 

    Exhibit
                                            A-3 – Page 6

     

    

 

(i)                
Specific Performance. The parties hereto agree that irreparable damage would occur in the
event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached.
It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and
to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which they are entitled
at law or in equity.

 

(j)                
Notices. All notices and other communications hereunder shall be in writing and shall be deemed
duly delivered (i) three Business Days after being sent by registered or certified mail, return receipt requested, postage prepaid, or
(ii) one Business Day after being sent for next Business Day delivery, fees prepaid, via a reputable overnight courier service, in each
case to the intended recipient as follows: (A) if to Merger Partner or Public Company, to the address, electronic mail address or facsimile
provided in the Merger Agreement, including to the persons designated therein to receive copies; and/or (B) if to the Stockholder, to
the Stockholder’s address, electronic mail address or facsimile shown below Stockholder’s signature to this Agreement.

 

(k)               
Counterparts. This Agreement may be executed in two or more counterparts (including by facsimile,
by an electronic scan delivered by electronic mail or any electronic signature), each of which shall be deemed an original but all of
which together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each of
the parties hereto and delivered to the other parties, it being understood that all parties need not sign the same counterpart. This Agreement
may be executed and delivered by facsimile, by an electronic scan delivered by electronic mail or by delivery of any electronic signature.

 

(l)                
Interpretation. When reference is made in this Agreement to a Section or Appendix, such reference
shall be to a Section of or Appendix to this Agreement, unless otherwise indicated. The headings contained in this Agreement are for convenience
of reference only and shall not affect in any way the meaning or interpretation of this Agreement. The language used in this Agreement
shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall
be applied against any party. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. Any reference to any federal,
state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context
requires otherwise. Whenever the words “include,” “includes” or “including” are used in this Agreement,
they shall be deemed to be followed by the words “without limitation.”

 

    Exhibit
                                            A-3 – Page 7

     

    

 

[Remainder of Page Left Intentionally
Blank]

 

    Exhibit
                                            A-3 – Page 8

     

    

 

IN WITNESS WHEREOF, the undersigned
have caused this Agreement to be duly executed as of the date first above written.

 

	MERGER PARTNER:	 
	 	 
	TEMPEST THERAPEUTICS, INC.	 
	 	 
	 	 
	By:	 
	Title:	 

 

    Exhibit
                                            A-3 – Page 9

     

    

 

	PUBLIC COMPANY:	 
	 	 
	MILLENDO THERAPEUTICS, INC.	 
	 	 
	 	 
	By:	 
	Title:	 

 

    Exhibit
                                            A-3 – Page 1

     

    

 

	[STOCKHOLDER],	 
	in his/her capacity as the Stockholder:	 
	 	 
	Signature:	 	 
	 	 
	Address:	 
	 	 
	 	 
	 	 

 

    Exhibit
                                            A-3 – Page 1

     

    

 

Appendix AExhibit 10.3

 

LOCK-UP AGREEMENT

 

March [●], 2021

 

Millendo Therapeutics, Inc.

110 Miller Avenue, Suite 100

Ann Arbor, Michigan

 

Ladies and Gentlemen:

 

The undersigned signatory of this lock-up agreement
(this “Lock-Up Agreement”) understands that Millendo Therapeutics, Inc., a Delaware corporation (“Public Company”),
has entered into an Agreement and Plan of Merger, dated as of [●], 2021 (as the same may be amended from time to time, the “Merger
Agreement”) with Mars Merger Corp., a Delaware corporation and a wholly owned subsidiary of Public Company, and Tempest Therapeutics,
Inc., a Delaware corporation. Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such
terms in the Merger Agreement.

 

As a condition and inducement to Public Company
to enter into the Merger Agreement and to consummate the transactions contemplated thereby, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby irrevocably agrees that, subject to the exceptions
set forth herein, without the prior written consent of Public Company, the undersigned will not, during the period commencing upon the
Closing and ending on the date that is 180 days after the Closing Date (the “Restricted Period”):

 

(1)              
offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Public Company Common Stock or
any securities convertible into or exercisable or exchangeable for shares of Public Company Common Stock (including without limitation,
shares of Public Company Common Stock or such other securities which may be deemed to be beneficially owned by the undersigned in accordance
with the rules and regulations of the SEC and securities of Public Company which may be issued upon exercise of an option to purchase
shares of Public Company Common Stock or a warrant to purchase shares of Public Company Common Stock) that are currently or hereafter
owned by the undersigned, except as set forth below (collectively, the “Undersigned’s Shares”), or publicly disclose
the intention to make any such offer, sale, pledge, grant, transfer or disposition;

 

(2)              
enter into any swap, short sale, hedge or other agreement that transfers, in whole or in part, any of the economic consequences of ownership
of the Undersigned’s Shares regardless of whether any such transaction described in clause (1) above or this clause (2) is to be
settled by delivery of shares of Public Company Common Stock or other securities, in cash or otherwise; or

 

(3)             make any demand for, or exercise any right with respect to, the registration of any shares of Public Company Common Stock or any security
convertible into or exercisable or exchangeable for shares of Public Company Common Stock (other than such rights set forth in the Merger
Agreement).

 

    

     

    

 

The restrictions and obligations contemplated
by this Lock-Up Agreement shall not apply to:

 

(a)              
transfers of the Undersigned’s Shares:

 

(1)              
if the undersigned is a natural person, (A) to any person related to the undersigned by blood or adoption who is an immediate family
member of the undersigned, or by marriage or domestic partnership (a “Family Member”), or to a trust formed for the
benefit of the undersigned or any of the undersigned’s Family Members, (B) to the undersigned’s estate, following the death
of the undersigned, by will, intestacy or other operation of Law, (C) as a bona fide gift or a charitable contribution, (D) by operation
of Law pursuant to a qualified domestic order or in connection with a divorce settlement or (E) to any partnership, corporation or limited
liability company which is controlled by the undersigned and/or by any such Family Member(s);

 

(2)              
if the undersigned is a corporation, partnership or other entity, (A) to another corporation, partnership, or other entity that
is an affiliate (as defined under Rule 12b-2 of the Exchange Act) of the undersigned, including investment funds or other entities under
common control or management with the undersigned, (B) as a distribution or dividend to equity holders, current or former general or limited
partners, members or managers (or to the estates of any of the foregoing), as applicable, of the undersigned (including upon the liquidation
and dissolution of the undersigned pursuant to a plan of liquidation approved by the undersigned’s equity holders), (C) as a bona
fide gift or a charitable contribution or (D) transfers or dispositions not involving a change in beneficial ownership; or

 

(3)              
if the undersigned is a trust, to any grantors or beneficiaries of the trust;

 

provided that, in the
case of any transfer or distribution pursuant to this clause (a), such transfer is not for value and each donee, heir, beneficiary or
other transferee or distributee shall sign and deliver to Public Company a lock-up agreement in the form of this Lock-Up Agreement with
respect to the shares of Public Company Common Stock or such other securities that have been so transferred or distributed;

 

(b)              
the exercise of an option to purchase shares of Public Company Common Stock (including a net or cashless exercise of an option to purchase
shares of Public Company Common Stock ), and any related transfer of shares of Public Company Common Stock to Public Company for the purpose
of paying the exercise price of such options or for paying taxes (including estimated taxes) due as a result of the exercise of such options;
provided that, for the avoidance of doubt, the underlying shares of Public Company Common Stock shall continue to be subject to
the restrictions on transfer set forth in this Lock-Up Agreement;

 

(c)              
transfers to Public Company in connection with the net settlement of any other equity award that represents the right to receive in the
future shares of Public Company Common Stock, settled in shares of Public Company Common Stock, to pay any tax withholding obligations;
provided that, for the avoidance of doubt, the underlying shares of Public Company Common Stock shall continue to be subject to
the restrictions on transfer set forth in this Lock-Up Agreement;

 

(d)              
the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Public Company
Common Stock; provided that such plan does not provide for any transfers of shares of Public Company Common Stock during the
Restricted Period;

 

    2

     

    

 

(e)              
transfers by the undersigned of shares of Public Company Common Stock purchased by the undersigned on the open market or in a public offering
by Public Company, in each case following the Closing Date;

 

(f)               
pursuant to a bona-fide third party tender offer, merger, consolidation or other similar transaction made to all holders of Public Company’s
capital stock involving a change of control of Public Company, provided that in the event that such tender offer, merger, consolidation
or other such transaction is not completed, the Undersigned’s Shares shall remain subject to the restrictions contained in this
Lock-Up Agreement; or

 

(g)              
pursuant to an order of a court or regulatory agency;

 

and provided, further,
that, with respect to each of (a), (b), (c), and (d) above, no filing by any party (including any donor, donee, transferor, transferee,
distributor or distributee) under Section 16 of the Exchange Act or other public announcement shall be required or shall be made voluntarily
in connection with such transfer or disposition during the Restricted Period (other than (x) any exit filings or public announcements
that may be required under applicable federal and state securities Laws or (y) in respect of a required filing under the Exchange Act
in connection with the exercise of an option to purchase shares of Public Company Common Stock or in connection with the net settlement
of any other equity award that represents the right to receive in the future shares of Public Company Common Stock, settled in shares
of Public Company Common Stock, that would otherwise expire during the Restricted Period, provided that reasonable notice shall
be provided to Public Company prior to any such filing). For the avoidance of doubt, the Undersigned’s Shares shall not include
any securities acquired by the undersigned pursuant to any Funding Agreement.

 

Any attempted transfer in violation of this Lock-Up
Agreement will be of no effect and null and void, regardless of whether the purported transferee has any actual or constructive knowledge
of the transfer restrictions set forth in this Lock-Up Agreement, and will not be recorded on the share register of Public Company. In
furtherance of the foregoing, the undersigned agrees that Public Company and any duly appointed transfer agent for the registration or
transfer of the securities described herein are hereby authorized to decline to make any transfer of securities if such transfer would
constitute a violation or breach of this Lock-Up Agreement. Public Company may cause the legend set forth below, or a legend substantially
equivalent thereto, to be placed upon any certificate(s) or other documents, ledgers or instruments evidencing the undersigned’s
ownership of shares of Public Company Common Stock:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO AND MAY ONLY BE TRANSFERRED IN COMPLIANCE WITH A LOCK-UP AGREEMENT, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE
OF THE COMPANY.

 

    3

     

    

 

The undersigned hereby represents and warrants
that the undersigned has full power and authority to enter into this Lock-Up Agreement. All authority herein conferred or agreed to be
conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal representatives of the
undersigned.

 

The undersigned understands that if the Merger
Agreement is terminated for any reason, the undersigned shall be released from all obligations under this Lock-Up Agreement. The undersigned
understands that Public Company is proceeding with the transactions contemplated by the Merger Agreement in reliance upon this Lock-Up
Agreement.

 

Any and all remedies herein expressly conferred
upon Public Company will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by Law or equity, and the
exercise by Public Company of any one remedy will not preclude the exercise of any other remedy. The undersigned agrees that irreparable
damage would occur to Public Company in the event that any provision of this Lock-Up Agreement was not performed in accordance with its
specific terms or were otherwise breached. It is accordingly agreed that Public Company shall be entitled to an injunction or injunctions
to prevent breaches of this Lock-Up Agreement and to enforce specifically the terms and provisions hereof in any court of the United States
or any state having jurisdiction, this being in addition to any other remedy to which Public Company is entitled at Law or in equity,
and the undersigned waives any bond, surety or other security that might be required of Public Company with respect thereto.

 

In the event that any holder of Public Company’s
securities that are subject to a substantially similar agreement entered into by such holder, other than the undersigned, is permitted
by Public Company to sell or otherwise transfer or dispose of shares of Public Company Common Stock for value other than as permitted
by this or a substantially similar agreement entered into by such holder, the same percentage of shares of Public Company Common Stock
held by the undersigned shall be immediately and fully released on the same terms from any remaining restrictions set forth herein (the
 “Pro-Rata Release”); provided, however, that such Pro-Rata Release shall not be applied unless and until
permission has been granted by Public Company to an equity holder or equity holders to sell or otherwise transfer or dispose of all or
a portion of such equity holders’ shares of Public Company Common Stock in an aggregate amount in excess of 1% of the number of
shares of Public Company Common Stock originally subject to a substantially similar agreement.

 

Upon the release of any of the Undersigned’s
Shares from this Lock-Up Agreement, Public Company will cooperate with the undersigned to facilitate the timely preparation and delivery
of certificates representing the Undersigned Shares without the restrictive legend above or the withdrawal of any stop transfer instructions
by virtue of this Lock-Up Agreement.

 

This Lock-Up Agreement and any claim, controversy
or dispute arising under or related to this Lock-Up Agreement shall be governed by and construed in accordance with the Laws of the state
of Delaware, without regard to the conflict of Laws principles thereof.

 

This Lock-Up Agreement may be executed in
several counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. The
exchange of a fully executed Lock-Up Agreement (in counterparts or otherwise) by Public Company and the undersigned by facsimile or
electronic transmission in .pdf format shall be sufficient to bind such parties to the terms and conditions of this Lock-Up
Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    4

     

    

 

 

 

	Very truly yours,	 
	 	 
	[STOCKHOLDER]	 
	 	 
	Signature:	 	 
	 	 
	[STOCKHOLDER]	 
	 	 
	Signature:	 	 
	 	 
	Name:	 	 
	 	 
	Title:	 	 

 

[Signature Page to Lock-up Agreement]

 

    

     

    

 

	Accepted and Agreed	 
	by Millendo Therapeutics, Inc.:	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Lock-up Agreement]

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