Document:

​

Exhibit 10.1
​
​
DATED 4th May 2022
​
(1) ADAPTIMMUNE LIMITED
and
(2) JOANNA BREWER

​
EMPLOYMENT AGREEMENT

​
​

​
​
​
Penningtons Manches LLP
9400 Garsington Road
Oxford Business Park
Oxford
OX4 2HN
​
Tel: +44 (0)1865 722106
Fax: +44 (0)1865 201012
​
​
​
​

​

​

Table of Contents
1.INTERPRETATION‌3
2.APPOINTMENT‌4
3.DURATION AND WARRANTIES‌5
4.SCOPE OF THE EMPLOYMENT‌5
5.HOURS AND PLACE OF WORK‌7
6.REMUNERATION‌8
7.PENSION AND OTHER BENEFITS‌8
8.BONUS‌10
9.SEVERANCE POLICY‌10
10.EXPENSES‌11
11.HOLIDAY‌11
12.INCAPACITY‌11
13.DEDUCTIONS‌12
14.RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE‌12
15.CONFIDENTIALITY‌13
16.DATA PROTECTION‌14
17.INVENTIONS AND INTELLECTUAL PROPERTY RIGHTS‌15
18.STATEMENTS‌17
19.TERMINATION OF EMPLOYMENT‌17
20.GARDEN LEAVE‌18
21.POST TERMINATION OBLIGATIONS OF THE EXECUTIVE‌18
22.AMALGAMATION AND RECONSTRUCTION‌21
23.DISCIPLINARY AND GRIEVANCE PROCEDURES‌21
24.TRAINING‌21
25.PERMITTED DISCLOSURES‌21
26.NOTICES‌22
27.ENTIRE AGREEMENT AND FORMER AGREEMENT(S)‌22
28.GOVERNING LAW AND JURISDICTION‌22
29.THIRD PARTY RIGHTS‌22
30.GENERAL‌22
​

2

​

​

THIS AGREEMENT is made the 4th day of May 2022
​
BETWEEN
​
	1
	ADAPTIMMUNE LIMITED, a company incorporated and registered in England and Wales under company number 6456741 whose registered office is at 60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire OX14 4RX ("the Company");

​
	2	JOANNA BREWER of [*****] ("the Executive")

​
The Board has approved the terms of this Agreement under which the Executive is to be employed.
​
	1.	INTERPRETATION

	1.1	In this Agreement the following words and expressions have the following meanings unless inconsistent with the context:

	​
​
​
​
"Board"
​

	​
​

	the "AT plc Board"
​
​
​
​
the "Board"
	means the board of directors from time to time of Adaptimmune Therapeutics plc and includes any committee of the board of directors duly appointed by it; 
means the board of directors from time to time of the Company and includes any committee of the board of directors duly appointed by it;

	the "Company Share Option Scheme"
	means the share option scheme or schemes operated by the Company or any Group Company from time to time;

	“Competitor or Potential Competitor”
	means any firm, company or business organisation (including in each case any entity which directly or indirectly controls, is controlled by, or is under common control by any firm, company or business organisation) which, controls, provides or owns (i) any clinical or development program utilizing a T-cell therapy; (ii) any clinical or development program utilizing a T-cell transfected or transduced with the genetic sequence for any TCR or any CAR-T cell; or (iii) any manufacture of or any development program for the manufacture of a T-cell therapy; or (iv) any manufacture of or any development program for the manufacture of any T-cell transfected or transduced with the genetic sequence for any TCR or any CAR-T cell or competing with any other aspect of the Company’s business where such competition is based on technologies being developed or applied by the Company from time to time;

	the "Employment"  
	means the Executive's employment under this Agreement;

	the "ERA"
	means the Employment Rights Act 1996;

3

​

​

	"Group Company"
	means any firm, company, corporation or other organisation which is a holding company from time to time of the Company or any subsidiary from time to time of the Company or any such holding company (for which purpose the expressions 'holding company' and 'subsidiary' shall have the meanings given to them by Section 1159 Companies Act 2006) and “Group Companies” and “Group” will be construed accordingly;

	"Intellectual Property Rights"
​
	means patents, rights to inventions, copyright and related rights, trade marks, trade names and domain names, rights in get-up, rights in goodwill or to sue for passing off, unfair competition rights, rights in designs, rights in computer software, database rights, topography rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all applications (or rights to apply) for, and renewals or extensions of, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world;

	"Pre-Contractual Statement"  
	means any undertaking, promise, assurance, statement, representation or warranty (whether in writing or not) of any person relating to the Employment which is not expressly set out in this Agreement; and

	the "Regulations"
	means the Working Time Regulations 1998.

​
​
	1.2	References to clauses, sub clauses and schedules are, unless otherwise stated, references to clauses and sub clauses of and schedules to this Agreement.

	1.3	The headings to the clauses are for convenience only and shall not affect the construction or interpretation of this Agreement.

	1.4	References to persons shall include bodies corporate, unincorporated associations and partnerships.

	1.5	Reference to any gender includes a reference to all other genders.

	2.	APPOINTMENT

The Company shall employ the Executive and the Executive agrees to serve as Chief Scientific Officer of Adaptimmune Therapeutics plc ("AT plc") on and subject to the terms and conditions in this Agreement.
​

4

​

​

	3.	DURATION AND WARRANTIES

	3.1	The Employment shall commence on 4 May 2022 (the "Commencement Date"). The Executive will not be subject to a probationary period. Subject to clause 19, the Employment shall continue until terminated by either party giving to the other not less than 9 months' notice in writing.  The Executive’s previous employment with Avidex Limited, Medigene Limited and the Company counts as part of her period of continuous employment and therefore her date of continuous employment shall be deemed to have begun on 3 September 2001.

	3.2	The Company shall be entitled at its sole and absolute discretion lawfully to terminate the Executive’s employment at any time and with immediate effect by written notification to the Executive and to pay within one month following the date of such termination a payment in lieu of notice (“PILON”) to the Executive.  For the avoidance of doubt, the termination of the Executive’s employment shall be effective on such written notification and shall not be deferred until the PILON is paid.  The total PILON will be equal to the basic salary due under clause 6.1 which the Executive would have been entitled to receive under this Agreement during the notice period referred to at clause 3.1 (or, if notice has already been given, during the remainder of such notice period) subject to statutory deductions.

	3.3	Notwithstanding clause 3.2, the Executive shall not be entitled to any PILON if the Company would otherwise have been entitled to terminate the Executive’s employment without notice in accordance with clause 19.1. In that case the Company shall also be entitled to recover from the Executive any PILON already made.

	3.4	The Executive represents and warrants that, in entering into and performing her duties under this Agreement:

		3.4.1	she is not subject to any restriction that might hinder or prevent her from performing any of her duties in full;

		3.4.2	she will not be in breach of any other contract of employment or any other obligation to any third party; and

		3.4.3	this Employment is and shall remain her sole and exclusive employment.

	3.5	The Executive further warrants that she has no unspent criminal convictions.

	4.	SCOPE OF THE EMPLOYMENT

	4.1	Save as specifically agreed with the Chief Executive Officer and the AT plc Board in respect of her obligations under clause 14.1, the Executive shall:

		4.1.1	devote the whole of her time, attention, ability and skills to her duties;

		4.1.2	faithfully and diligently perform such duties and exercise such powers consistent with her position as may from time to time be assigned to or vested in her by the Board;

5

​

​

		4.1.3	obey all reasonable and lawful directions of the Board;

		4.1.4	comply with the Company's rules, regulations, policies and procedures and with the policies and procedures of AT plc from time to time in force;

		4.1.5	comply with the rules of any securities or investment exchange or regulatory or governmental body to which any Group Company is subject from time to time (including the US Securities and Exchange Commission and the City Code on Takeovers and Mergers); 

		4.1.6	promptly give the Company Secretary of AT plc such information as AT plc may require to enable it to comply with its legal obligations, or the requirements of Nasdaq or any other applicable stock exchange;

		4.1.7	comply, and will procure, so far as she is able, that her spouse or civil partner and dependent children (if any), or any trust in which she, her spouse or civil partner or dependent children may be concerned or interested in as trustee or beneficiary, will comply with any code of conduct relating to securities transactions by directors and specified employees applicable in the Company or to any Group Company; 

		4.1.8	exercise her duties in compliance with the requirements of the Bribery Act 2010 and use all reasonable endeavours to assist the Company and any Group Company in preventing bribery from being conducted on its behalf in contravention of that Act;

		4.1.9	at all times act in the best interests of the Company and use her best endeavours to promote and protect the interests of the Company, any of its Group Companies and their employees; 

		4.1.10	if requested to do so, keep the Board and/or the AT plc Board, as applicable, at all times promptly and fully informed (in writing if so requested) of her conduct of the business of the Company and any Group Company and provide such explanations in connection with such conduct as the Board and/or the AT plc Board may from time to time require; and

		4.1.11	act as a model for all other employees of the Group.

	4.2	Subject to clause 4.3 the Company reserves the right to assign the Executive duties of a different nature on a permanent or temporary basis either in addition to or instead of those referred to in clause 4.1 above, it being understood that she will not be assigned duties which she cannot reasonably perform or which are inconsistent with her position and status.

	4.3	During any period of notice of termination (whether given by the Company or the Executive), the Company shall be at liberty to assign the Executive such other duties consistent with her status, role and experience as the Company shall determine in its absolute discretion.

6

​

​

	4.4	The Executive shall not, without the prior consent of the Chief Executive Officer:-

		4.4.1	on behalf of the Company, incur any capital expenditure in excess of such sum as may be authorised from time to time; and

		4.4.2	on behalf of the Company, enter into any commitment, contract or arrangement otherwise than in the normal course of business or outside the scope of her normal duties, or of an unusual, onerous or long term nature.

For the avoidance of doubt, nothing in this clause prevents the Executive acting within any limits of authority or budgets agreed by the Board from time to time.
	4.5	The Executive shall if and so long as the Company requires without further remuneration:

		4.5.1	carry out her duties as instructed by the Company on behalf of any Group Company; and

		4.5.2	act as a director, officer or consultant of the Company and/or any Group Company.

	4.6	The Executive confirms that she has disclosed to the Company all circumstances in respect of which there is, or there might be, a conflict or possible conflict of interest between the Company or any Group Company and the Executive and she agrees to disclose fully to the Company any such circumstances that might arise during the Employment. For the avoidance of doubt, this includes but is not limited to, disclosing to the Company any activity by a third party or the Executive herself which might reasonably be expected to harm the Company or its business.

	4.7	The Executive shall disclose to the Chief Executive Officer any direct or indirect approach or solicitation by any Competitor or Potential Competitor intended to encourage her to terminate her employment.

	5.	HOURS AND PLACE OF WORK

	5.1	The Executive agrees that her normal working hours shall be 9:00 am to 5:00 pm on Mondays to Fridays. These hours are variable as reasonably determined by the Executive, subject always to the Company’s requirements and operational needs. However, the Executive may be required to work such other hours as may be reasonably necessary for the proper performance of her duties. Working such additional hours shall not entitle the Executive to additional remuneration.

	5.2	The Executive agrees that the working time limits set out in Part II of the Regulations do not apply to the Employment.

	5.3	The Executive's principal place of work will be in the Company's offices at Milton Park, Abingdon, or any such place within 30 miles of Oxford as the Company shall from time to time direct. The Executive will be given reasonable notice of any change in her place of work.

7

​

​

	5.4	The Executive may be required to travel throughout the United Kingdom and overseas in the performance of her duties, although the Company does not currently anticipate that the Executive will be required to work outside the UK for any continuous period of more than one month.

	6.	REMUNERATION

	6.1	The Company shall pay to the Executive a basic salary at the rate of £310,000 per annum, payable by equal monthly instalments in arrears, by credit transfer to a bank account nominated by the Executive on or around the last working day of each month. The salary payments will be subject to such deductions in respect of taxes and any other deductions as may from time to time be required by law and/or which are agreed by the Executive.

	6.2	The Executive's salary will be reviewed annually by the Remuneration Committee of the AT plc Board in its absolute discretion in December of each year commencing from December 2022. Any increase in salary will take effect from 1 January each year commencing from 1 January 2023.  

	6.3	Subject always to the rules of the Company Share Option Scheme from time to time in force (the "Share Scheme") and to the Executive's eligibility to participate in the Share Scheme, the Executive may at the absolute discretion of the Company be entitled to share options under the Share Scheme. Where the Employment is terminated for whatever reason and whether or not in breach of contract she shall not be entitled, and by applying for an option the Executive shall be deemed irrevocably to have waived any entitlement, by way of compensation for loss of office or otherwise to any sum or other benefits to compensate her for the loss of any rights under the Share Scheme.

	6.4	On or around 4 May 2022, or such other date as the AT plc Board may determine and subject to the rules of the Share Scheme and any applicable legal or regulatory requirements, the Executive shall be awarded 333,792 "market value" options to acquire ordinary shares in AT plc and 223,512 nominal cost options to acquire ordinary shares in AT plc on condition that, at the time of the award of such share options, the Executive continues to serve as the Chief Scientific Officer of AT plc and remains employed by the Company and is not under notice of termination (whether given by the Company or the Executive). The options shall vest over a period of four years from the date of grant. The market value options shall have an exercise price per ordinary share of not less than one sixth of the closing trading price of an American Depositary Share of AT plc on the last business day prior to the date of grant, translated from USD to GBP, and the nominal cost options shall have an exercise price of £0.001 per ordinary share.

	7.	PENSION AND OTHER BENEFITS

	7.1	The Company will comply with the employer pension duties in respect of the Executive in accordance with Part 1 of the Pensions Act 2008. The Executive will be entitled to participate as a member of the Company’s Group Personal Pension Scheme (the "Company Pension Scheme"), subject always to the rules of the scheme from time to time. 

8

​

​

	7.2	The Company reserves the right to vary the benefits payable under the Company Pension Scheme or, terminate, or substitute another pension scheme for the existing Company Pension Scheme at any time.

	7.3	The Company Pension Scheme is not a contracted-out scheme for the purpose of the Pensions Schemes Act 1993.

	7.4	The Executive shall be eligible to participate in the private health care scheme and permanent health insurance schemes which the Company may maintain for the benefit of its senior executives (the "Schemes") subject to the rules of the Schemes and the terms of any related policy of insurance from time to time in force. This is for information only and should not be regarded as any guarantee of benefits which may be paid under the Schemes.

	7.5	The Company reserves the right, at its absolute discretion, to change the Schemes providers, to amend the terms of the Schemes (including but not limited to the level of benefits), to terminate the Schemes without replacement, to substitute another scheme for either of the Schemes and to remove the Executive from membership of either or both Schemes.

	7.6	The Company shall be under no obligation to make any payment under either Scheme to the Executive unless and until it has received the relevant payment from the Scheme's provider. If any Scheme provider refuses for any reason (whether based on its own interpretation of the terms of the insurance policy or otherwise) to provide any benefits to the Executive, the Company shall not be liable to provide replacement benefits itself or any compensation in lieu and shall be under no obligation to pursue a claim for unpaid benefits on behalf of the Executive against the Schemes’ provider.

	7.7	The Company reserves the right to terminate the Executive's employment, where it has good cause to do so (including but not limited to where the Executive is redundant or has committed misconduct), notwithstanding that the Executive is receiving benefits under either Scheme and that such termination may result in those benefits being discontinued. The Executive agrees that she shall have no claim against the Company for damages in respect of the loss of benefits under either Scheme in such circumstances.

	7.8	In the event that the Executive is absent by reason of ill-health she will continue to co-operate with and act in good faith towards the Company including but not limited to staying in regular contact with the Company and providing it with such information about her health, prognosis and progress as the Company may require.

	7.9	In accordance with the current rules of each Scheme, participation in either Scheme is subject to the condition that the Executive has notified the Company on or before the commencement of the Employment of any pre-existing medical conditions that she may have.

	7.10	If the Executive is receiving benefits under either Scheme the Company shall be entitled to appoint a replacement to perform all or any of the Executive's duties on either a temporary or permanent basis.

	7.11	The Executive is not entitled to any benefits during her employment save as detailed in this Agreement or as notified to the Executive from time to time. 

9

​

​

	7.12	The Executive may be eligible to take the following types of paid leave, subject to any statutory eligibility requirements or conditions and the Company's rules applicable to each type of leave in force from time to time: (a) statutory maternity leave; (b) statutory paternity leave; (c) statutory adoption leave; and (d) shared parental leave. Further details of such leave and the pay during such leave are available from HR. The Company may replace, amend or withdraw the Company's policy on any of the above types of leave at any time.

	8.	BONUS

	8.1	Subject to the terms of the AT plc executive severance policy in force from time to time (the “Executive Severance Policy”), the Executive will be eligible to receive a bonus, determined by the Remuneration Committee of the AT plc Board, following the end of each calendar year that ends during the Employment (“Annual Bonus”), subject to: (i) objective criteria set forth by the AT plc Board or an authorised delegate thereof on an annual basis; and (ii) the overall performance of the Group. 

	8.2	The initial target Annual Bonus with effect from 4 May 2022 shall be forty-five percent (45%) of the Executive’s basic salary. The Annual Bonus shall be pro-rated for any part year of employment not worked by the Executive and paid in a single lump sum no later than 15 March of the year following the calendar year in which the Annual Bonus, if any, was earned. For clarity, any Annual Bonus payment made to the Executive shall be purely discretionary and shall not form part of the Executive’s contractual remuneration under this Agreement. 

	8.3	The first review of the target Annual Bonus percentage will occur in January 2023 and thereafter the target Annual Bonus percentage shall be reviewed on an annual basis. If the Company makes an Annual Bonus payment to the Executive in respect of a particular calendar year, it shall not be obliged to make subsequent Annual Bonus payments in respect of subsequent calendar years.

	8.4	The Executive must be employed by the Company on 31 December of the calendar year on which the bonus is based in order to be eligible to receive the Annual Bonus. Any Annual Bonus payments shall be paid to the Executive less applicable deductions in respect of taxes and any other deductions as required by law. Nothing in this Agreement will preclude the AT plc Board from changing or altering the objective criteria referred to in clause 8.1, in whole or in part, in the AT plc Board’s absolute discretion.

	9.	SEVERANCE POLICY

The Executive Severance Policy in force from time to time shall apply to the Executive in relation to the Employment. Such policy may be amended or terminated in accordance with the terms of the policy, save that where any proposed amendment or termination substantially reduces the rights of the Executive following her termination of employment: (i) the Company will consult with the Executive on such proposed amendment or termination; and (ii) any such substantial reduction in the rights or benefits of the Executive must be agreed with the Executive. Where, following consultation, the Executive does not agree to any such proposed amendment or termination, then the Executive Severance Policy shall continue in full force and effect without such proposed amendment or termination.

10

​

​

	10.	EXPENSES

The Company shall reimburse the Executive in respect of all expenses reasonably incurred by her in the proper performance of her duties, subject to the Executive providing such receipts or other evidence that the Company may require.
​
	11.	HOLIDAY

	11.1	The Executive shall be entitled to receive her normal remuneration for all bank and public holidays normally observed in England and a further 28 working days holiday in each holiday year, being the period from 1 January to 31 December. 

	11.2	In the holiday year in which the Employment terminates, the Executive's entitlement to holiday shall accrue on a pro-rata basis for each complete month of service during that year.

	11.3	If, on the termination of the Employment, the Executive has exceeded her accrued holiday entitlement, the excess may be deducted from any sums due to her. If the Executive has any unused holiday entitlement, the Company may either require the Executive to take such unused holiday during any notice period or accept payment in lieu. Any payment in lieu shall only be made in respect of holiday accrued in accordance with clause 11.2 above during the Executive's final holiday year and the Executive shall be deemed to have taken her statutory holiday first, during that year.

	11.4	The Executive may carry forward to the following calendar year up to 5 days’ unused holiday entitlement but she must take any holiday which is carried over before the end of April in that year.

	12.	INCAPACITY

	12.1	Subject to the Executive's compliance with the Company's rules from time to time in force regarding sickness notification and doctor's certificates, and subject to the Company's right to terminate the Employment for any reason including without limitation incapacity, if the Executive is at any time absent on medical grounds the Company shall pay to the Executive in each calendar year her normal basic salary for a maximum of 13 weeks, followed by a further period of 13 weeks at half her normal basic salary ("Company Sick Pay").

	12.2	The Company reserves the right to require the Executive to undergo a medical examination by a doctor or consultant nominated by it, at any time including at any stage of absence at the Company's expense, and the Executive agrees that she will undergo any requisite tests and examinations and will fully co-operate with the relevant medical practitioner and shall authorise her or her to disclose to and discuss with the Company the results of any examination and any matters which arise from it.

	12.3	Payment of Company Sick Pay to the Executive pursuant to clause 12.1 shall be inclusive of any Statutory Sick Pay and any Social Security Sickness Benefit or other benefits to which the Executive may be entitled, whether or not claimed.

11

​

​

	12.4	If the Executive's absence shall be caused by the actionable negligence of a third party in respect of which damages are recoverable, then all sums paid by the Company shall constitute loans to the Executive, who shall:

		12.4.1	immediately notify the Company of all the relevant circumstances and of any claim, compromise, settlement or judgement made or awarded;

		12.4.2	if the Board so requires, refund to the Company such sum as the Board may determine, not exceeding the lesser of:

		(a)	the amount of damages recovered by her under such compromise, settlement or judgement; and

		(b)	the sums advanced to her in respect of the period of incapacity.

	12.5	Any actual or prospective entitlement to Company Sick Pay or private medical insurance or long term disability benefits shall not limit or prevent the Company from exercising its right to terminate the Employment in accordance with clauses 3.1 or 19 or otherwise and the Company shall not be liable for any loss arising from such termination.

	12.6	If the Executive is prevented by incapacity from properly performing her duties under this Agreement for a consecutive period of 30 working days the Board may appoint another person or persons to perform those duties until such time as the Executive is able to resume fully the performance of her duties.

	13.	DEDUCTIONS

For the purposes of the ERA, the Executive hereby authorises the Company to deduct from her remuneration any sums due from her to the Company including, without limitation, any overpayments of salary, overpayments of holiday pay whether in respect of holiday taken in excess of that accrued during the holiday year or otherwise, any fines incurred by the Executive and paid by the Company, the cost of repairing any damage or loss to the Company's property caused by her and all losses suffered by the Company as a result of any negligence or breach of duty by the Executive.
​
	14.	RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE

	14.1	During the Employment the Executive shall not, without the prior written consent of the AT plc Board, directly or indirectly be employed, engaged, concerned or interested in any other business or undertaking or be involved in any activity which the Board reasonably considers may be, or become, harmful to the interests of the Company or any Group Company or which might reasonably be considered to interfere with the performance of the Executive's duties under this Agreement provided that this clause 14.1 shall not prohibit the holding (directly or through nominees) of investments listed on any recognised stock exchange as long as not more than 1 per cent of the issued shares or other securities of any class of any one company shall be so held.

	14.2	Subject to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate 

12

​

​

		or commission in respect of any sale or purchase of goods effected or other business transacted (whether or not by her by or on behalf of the Company) and if she (or any firm or company in which she is interested) shall obtain any such discount, rebate or commission, she shall account to the Company for the amount received by her (or a due proportion of the amount received by such company or firm having regard to the extent of her interest in it).

	15.	CONFIDENTIALITY

	15.1	The Executive shall neither during the Employment (except in the proper performance of her duties) nor at any time (without limit) after the termination of the Employment:

		15.1.1	divulge or communicate to any person, company, business entity or other organisation;

		15.1.2	use for her own purposes or for any purposes other than those of the Company or any Group Company; or

		15.1.3	through any failure to exercise due care and diligence, permit or cause any unauthorised disclosure of;

any Confidential Information, provided that these restrictions shall cease to apply to any information which shall become available to the public generally otherwise than through an unauthorised disclosure by the Executive or any other person.
	15.2	For the purposes of this Agreement "Confidential Information" shall mean, in relation to the Company or any Group Company:

		15.2.1	trade secrets;

		15.2.2	information relating to research activities, inventions, discoveries, secret processes, designs, know how, technical specifications and processes, formulae, intellectual property rights, computer software, product lines and any other technical information relating to the creation, production or supply of any past, present or future product or service;

		15.2.3	any inventions or improvements which the Executive may make or discover during the Employment;

		15.2.4	any information relating to the business or prospective business;

		15.2.5	details of suppliers, their services and their terms of business;

		15.2.6	details of customers and their requirements, the prices charged to them and their terms of business;

		15.2.7	pitching material, marketing plans and sales forecasts of any past, present or future products or services;

		15.2.8	information relating to the business, corporate plans, management systems, accounts, finances and other 

13

​

​

			financial information, results and forecasts (save to the extent that these are included in published audited accounts);

		15.2.9	proposals relating to the acquisition or disposal of a company or business or any part thereof;

		15.2.10	proposals for expansion or contraction of activities, or any other proposals relating to the future;

		15.2.11	details of employees and officers and of the remuneration and other benefits paid to them;

		15.2.12	information given in confidence by clients, customers, suppliers or any other person;

		15.2.13	any other information which the Executive is notified is confidential; and

		15.2.14	any other information which the Company (or relevant Group Company) could reasonably be expected to regard as confidential, whether or not such information is reduced to a tangible form or marked in writing as "confidential", including but not limited to, information which is commercially sensitive, which comes into the Executive's possession by virtue of the Employment and which is not in the public domain and all information which has been or may be derived or obtained from any such information.

	15.3	The Executive acknowledges that all notes, memoranda, records, lists of customers and suppliers and employees, correspondence, documents, computer and other discs and tapes, data listings, databases, codes, designs and drawings and any other documents and material whatsoever (whether made or created by the Executive or otherwise) relating to the business of the Company and any Group Company (and any copies of the same) or which is created or stored on the Company's or Executive’s equipment and/or systems:

		15.3.1	shall be and remain the property of the Company or the relevant Group Company; and

		15.3.2	shall be handed over by the Executive to the Company or the relevant Group Company on demand and in any event on the termination of the Employment and the Executive shall certify that all such property has been so handed over and that no copies or extracts (whether physical or electronic) have been retained (whether directly or indirectly).

	15.4	Clause 15.1 shall only bind the Executive to the extent allowed by law and nothing in this clause shall prevent the Executive from making a statutory disclosure.

	16.	DATA PROTECTION

	16.1	The Executive shall at all times during the Employment act in accordance with the Data Protection Act 2018 (the "2018 Act") and shall comply with 

14

​

​

		any policy introduced by the Company from time to time to comply with the 2018 Act. Breach of this undertaking will constitute a serious disciplinary offence.

	16.2	The Executive agrees to provide the Company in its capacity as Data Controller with all Personal Data relating to her which is necessary or reasonably required for the proper performance of this Agreement, the administration of the employment relationship (both during and after the Employment) or the conduct of the Company's business or where such provision is required by law.

	16.3	The Company agrees to process any Personal Data made available to it by the Executive in accordance with the provisions of the 2018 Act.

	16.4	In this Clause "Data Controller" "Personal Data" and "processing" shall have the meaning set out in sections 5 of the 2018 Act.

	17.	INVENTIONS AND INTELLECTUAL PROPERTY RIGHTS

	17.1	For the purposes of this clause 17 the following definitions apply:

		17.1.1	"Employment Inventions" means any Invention which is made wholly or partially by the Executive at any time during the course of her duties to the Company (whether or not during working hours or using Company premises or resources, and whether or not recorded in material form).

		17.1.2	"Employment IPRs" means Intellectual Property Rights created by the Executive in the course of her employment with the Company (whether or not during working hours or using Company premises or resources).

		17.1.3	"Invention" means any invention, idea, discovery, development, improvement or innovation, whether or not patentable or capable of registration, and whether or not recorded in any medium.

	17.2	The Executive acknowledges that all Employment IPRs, Employment Inventions and all materials embodying them shall belong to the Company to the fullest extent permitted by law and hereby assigns, (and to the extent not capable of immediate or prospective assignment, agrees to assign) all such Employment IPRs and Employment Inventions to the Company. 

	17.3	The Executive acknowledges that, because of the nature of her duties and the particular responsibilities arising from the nature of her duties, she has, and shall have at all times while she is employed by the Company, a special obligation to further the interests of the Company.

	17.4	To the extent that title in any Employment IPRs or Employment Inventions do not belong the Company by virtue of clause 17.2, the Executive agrees, immediately upon creation of such rights and inventions, to offer to the Company in writing a right of first refusal to acquire them on arm's length terms to be agreed between the parties. If the parties cannot agree on such terms within 30 days of the Company receiving the offer, the Company shall refer the dispute to a mutually acceptable independent expert (or, if agreement is not reached within five Business Days of either 

15

​

​

		party giving notice to the other that it wishes to refer a matter to an independent expert, such independent expert as may be nominated by an appropriate authority, which the parties shall seek in good faith to agree) (the “Expert”). In relation to matters referred to the Expert:

		17.4.1	the parties are entitled to make submissions to the Expert and will provide (or procure that others provide) the Expert with all such assistance and documents as the Expert may reasonably require for the purpose of reaching a decision. Each party shall with reasonable promptness supply each other with all information and give each other access to all documentation and personnel as the other party reasonably requires to make a submission under this clause;

		17.4.2	the parties agree that the Expert may in its reasonable discretion determine such other procedures to assist with the conduct of the determination as it considers appropriate;

		17.4.3	the Expert shall act as an expert and not as an arbitrator. The Expert’s decision shall be final and binding on the parties in the absence of fraud or manifest error; and

		17.4.4	the Expert's fees and any costs properly incurred by the Expert in arriving at her or her determination (including any fees and costs of any advisers appointed by the Expert) shall be borne by the parties in equal shares or in such proportions as the Expert shall direct.

The Executive agrees that the provisions of this clause 17 shall apply to all Employment IPRs and Employment Inventions offered to the Company under this clause 17.4 until such time as the Company has agreed in writing that the Executive may offer them for sale to a third party.
	17.5	The Executive agrees:

		17.5.1	to give the Company full written details of all Employment Inventions and Employment IPRs which relate to or are capable of being used in the business of the Company or any Group Company promptly on their creation;

		17.5.2	at the Company's request and in any event on the termination of her employment to give to the Company all originals and copies of correspondence, documents, papers and records on all media which record or relate to any of the Employment IPRs;

		17.5.3	not to attempt to register any Employment IPR nor patent any Employment Invention unless requested to do so by the Company; and

		17.5.4	to keep confidential each Employment Invention and Employment IPR unless the Company has consented in writing to its disclosure by the Executive.

	17.6	The Executive waives all her present and future moral rights which arise under sections 77 and 80 of the Copyright Designs and Patents Act 1988, 

16

​

​

		and all similar rights in other jurisdictions relating to any copyright work which forms part of the Employment IPRs, and agrees not to support, maintain nor permit any claim for infringement of moral rights in such copyright works.

	17.7	The Executive acknowledges that, except as provided by law, no further remuneration or compensation other than that provided for in this Agreement is or may become due to the Executive in respect of her compliance with this clause 17. This is without prejudice to the Executive's rights under the Patents Act 1977.

	17.8	The Executive undertakes to execute all documents and do all acts both during and after her employment by the Company as may, in the opinion of the Board, be necessary or desirable to vest the Employment IPRs in the Company, to register them in the name of the Company and to protect and maintain the Employment IPRs and the Employment Inventions. Such documents may, at the Company's request, include waivers of all and any statutory moral rights relating to any copyright works which form part of the Employment IPRs. The Company agrees to reimburse the Executive's reasonable expenses of complying with this clause 17.8.

	17.9	The Executive agrees to give all assistance reasonably requested by the Company to enable it to enforce its Intellectual Property Rights against third parties, to defend claims for infringement of third party Intellectual Property Rights and to apply for registration of Intellectual Property Rights, where appropriate throughout the world, and for the full term of those rights.

	17.10	The Executive hereby irrevocably appoints the Chief Executive Officer of the Company (from time to time), or, failing him or her, any Director or the Company Secretary to be her attorney to execute and do any such instrument or thing and generally to use her name for the purpose of giving the Company or its nominee the benefit of this clause 17. The Executive acknowledges in favour of a third party that a certificate in writing signed by any Director or the Company Secretary that any instrument or act falls within the authority conferred by this clause 17 shall be conclusive evidence that such is the case.

	18.	STATEMENTS

	18.1	The Executive shall not make, publish (in any format) or otherwise communicate any derogatory statements, whether in writing or otherwise, at any time either during her Employment or at any time after its termination in relation to the Company, any Group Company or any of its or their officers or other personnel.

	18.2	The Executive shall not make any statements to the press or other media in connection with the Company and/or any Group Company at any time either during or after the Employment without the prior consent of the Chief Executive Officer.

	19.	TERMINATION OF EMPLOYMENT

	19.1	The Company may terminate the Employment immediately by notice in writing if the Executive shall have:

17

​

​

		19.1.1	committed any serious breach or repeated or continued breach of her obligations under this Agreement; 

		19.1.2	committed any breach of the securities rules as set out at clause 4.1.5; 

		19.1.3	been guilty of conduct tending to bring her or the Company or any Group Company into disrepute; 

		19.1.4	become bankrupt or had an interim order made against her under the Insolvency Act 1986 or compounded with her creditors generally; 

		19.1.5	failed to perform her duties to a satisfactory standard; 

		19.1.6	been convicted of an offence under any statutory enactment or regulation (other than a motoring offence for which no custodial sentence is given); or

		19.1.7	during the Employment, committed any material breach of clauses 14, 15 and 17.

Any delay by the Company in exercising such right of termination shall not constitute a waiver thereof.
	19.2	The Company reserves the right to suspend the Executive on full pay for so long as it may think fit in order to conduct any disciplinary investigation into any alleged acts or omissions by the Executive.

	20.	GARDEN LEAVE

During any period of notice of termination (whether given by the Company or the Executive), the Company shall be under no obligation to assign any duties to the Executive and shall be entitled to exclude her from its premises, and require the Executive not to contact any customers, suppliers or employees provided that this shall not affect the Executive's entitlement to receive her normal salary and contractual benefits.  During any such period of exclusion the Executive will continue to be bound by all the provisions of this Agreement and shall at all times conduct herself with good faith towards the Company.
	21.	POST TERMINATION OBLIGATIONS OF THE EXECUTIVE

	21.1	For the purposes of this clause 21 the following definitions apply:

		21.1.1	"Restricted Business" means any business carried on by the Company or any Group Company at the Termination Date, which at the date of this Agreement includes (i) clinical and development programs utilizing a T-cell therapy; (ii) clinical and development programs utilizing a T-cell transfected or transduced with the genetic sequence for any TCR or any CAR-T cell; (iii) manufacture of or  development programs for the manufacture of a T-cell therapy; and (iv) manufacture of or development programs for the manufacture of any T-cell transfected or transduced with the genetic sequence for any TCR or any CAR-T cell, in all cases with which the Executive was involved or about 

18

​

​

			which she was in possession of Confidential Information at any time during the twelve months immediately preceding the Restriction Date; 

		21.1.2	"Restricted Customer" means any person, firm, company or other organisation who, at any time during the twelve months immediately preceding the Restriction Date was a customer of or in the habit of dealing with the Company or any Group Company and with whom the Executive had personal dealings in the course of her employment or for whom the Executive was responsible on behalf of the Company or any Group Company during that period;

		21.1.3	"Restricted Employee" means any person employed or engaged, either: (i) directly by the Company or any Group Company; or (ii) indirectly by the Company or any Group Company through a contract research organisation or contract manufacturing organisation at: (i) the level of line management (including associate director, director, vice president) or above or equivalent; or (ii) research and development staff, manufacturing staff or equivalent; or (iii) key personnel engaged for the provision of services to the Company or any Group Company, and which was so employed or engaged in the twelve months immediately preceding the Restriction Date and with whom the Executive had dealings or about whom the Executive was in possession of Confidential Information at any time during that period; 

		21.1.4	"Restriction Date" means the earlier of the Termination Date and the start of any period of Garden Leave in accordance with Clause 20;

		21.1.5	"Termination Date" means the date of termination of the Employment (howsoever caused).

	21.2	The Executive acknowledges that by reason of the Employment she will have access to trade secrets, confidential information, business connections and the workforce of the Company and the Group Companies and that in order to protect their legitimate business interests it is reasonable for her to enter into these post termination restrictive covenants and the Executive agrees that the restrictions contained in this clause 21 (each of which constitutes an entirely separate, severable and independent restriction) are reasonable.

	21.3	Reference in this clause 21.3 to "the Company" shall apply as though there were included reference to any relevant Group Company.  The Executive covenants with the Company for itself and as trustee and agent for each Group Company that she will not without the prior written consent of the Company:

		21.3.1	for twelve months after the Restriction Date solicit or endeavour to entice away from the Company the business or custom of a Restricted Customer with a view to providing goods or services in competition with any Restricted Business;

19

​

​

		21.3.2	for twelve months after the Restriction Date provide goods or services to, or otherwise have any business dealings with, any Restricted Customer in the course of any business concern which is in competition with any Restricted Business;

		21.3.3	for twelve months after the Restriction Date in the course of any business concern which is in competition with any Restricted Business offer to employ or engage or otherwise endeavour to entice away from the Company any Restricted Employee;

		21.3.4	for twelve months after the Restriction Date be engaged or concerned in any capacity in any business concern which is in competition with the Restricted Business.

	21.4	For the avoidance of doubt, nothing in this clause 21 shall prevent the Executive from:

		21.4.1	holding as an investment by way of shares or other securities not more that 1% of the total issued share capital of any company listed on a recognised stock exchange; or

		21.4.2	being engaged or concerned in any business concern where the Executive's work or duties relate solely to geographical areas where the business concern is not in competition with the Restricted Business; or

		21.4.3	being engaged or concerned in any business concern where the Executive's work or duties relate solely to services or activities of a kind with which the Executive was not concerned and about which she was not in possession of Confidential Information during the twelve months before the Restriction Date.

	21.5	The obligations undertaken by the Executive pursuant to this clause 21 extend to her acting not only on her own account but also on behalf of any other firm, company or other person and shall apply whether she acts directly or indirectly.

	21.6	The Executive hereby undertakes with the Company that she will not at any time after the termination of the Employment in the course of carrying on any trade or business, claim, represent or otherwise indicate any present association with the Company or any Group Company or for the purpose of carrying on or retaining any business or custom, claim, represent or otherwise indicate any past association with the Company or any Group Company to its detriment.

	21.7	While the restrictions in this clause 21 are considered by the parties to be reasonable in all the circumstances, it is agreed that if any such restrictions, by themselves, or taken together, shall be found to go beyond what is reasonable in all the circumstances for the protection of the legitimate interests of the Company or any Group Company but would be considered reasonable if part or parts of the wording of such restrictions were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be necessary to make it or them valid and effective.

20

​

​

	21.8	If the Executive accepts alternative employment or engagement with any third party during the period of any of the restrictions in this clause 21 she will provide the third party with full details of these restrictions.

	22.	AMALGAMATION AND RECONSTRUCTION

	22.1	If the Company is wound up for the purposes of reconstruction or amalgamation the Executive shall not as a result or by reason of any termination of the Employment or the redefinition of her duties within the Company or any Group Company arising or resulting from any reorganisation of the Group have any claim against the Company for damages for termination of the Employment or otherwise so long as she shall be offered employment with any concern or undertaking resulting from such reconstruction, reorganisation or amalgamation on terms and conditions no less favourable to the Executive than the terms contained in this Agreement.

	22.2	If the Executive shall at any time have been offered but shall have unreasonably refused or failed to agree to the transfer of this Agreement by way of novation to a company which has acquired or agreed to acquire the whole or substantially the whole of the undertaking and assets or not less than 50 per cent of the equity share capital of the Company the Company may terminate the Employment by such notice as is required by s.86 of the ERA within one month of such offer being refused by the Executive.

	23.	DISCIPLINARY AND GRIEVANCE PROCEDURES

The Company’s Grievance and Disciplinary Procedures will apply to the Executive. Such procedures are non-contractual and the Company reserves the right to leave out any stage of the procedures and failure to follow a procedure (or part of it) shall not constitute a breach of this Agreement. If the Executive wishes to raise a grievance, the Executive may apply in writing to a member of the UK HR team in accordance with the grievance procedure.
	24.	TRAINING

No training is currently required to be completed by the Executive; however, during the Employment the Executive must complete any training as specified by the Company from time to time.
	25.	PERMITTED DISCLOSURES

	25.1	For the avoidance of doubt nothing in this Agreement precludes the Executive or seeks to hinder the Executive from: 

		25.1.1	making a protected disclosure in accordance with the provisions of Employment Rights Act 1996; 

		25.1.2	making any report or disclosure to any law enforcement authority (including the police) or any regulatory authority; 

		25.1.3	assisting in any criminal investigation; 

		25.1.4	making any disclosure where required by law or regulatory obligation; 

21

​

​

		25.1.5	making a disclosure for the purpose of representing herself in any investigation/proceedings brought by the Executive's regulatory/professional body relating to matters arising from the Executive's employment; 

		25.1.6	making a disclosure in compliance with an order of, or to give evidence to, a court or tribunal of competent jurisdiction; and 

		25.1.7	making any report of disclosure for the purpose of seeking tax, medical or other professional advice provided such individuals agree to keep the matters disclosed confidential.

	26.	NOTICES

	26.1	Any notice or other document to be given under this Agreement shall be in writing and may be given personally to the Executive or to the Company Secretary (as the case may be) or may be sent by first class post or by facsimile transmission to, in the case of the Company, its registered office for the time being and in the case of the Executive either to her address shown on the face of this Agreement or to her last known place of residence.

	26.2	Any such notice shall (unless the contrary is proved) be deemed served when in the ordinary course of the means of transmission it would first be received by the addressee in normal business hours. In proving such service it shall be sufficient to prove, where appropriate, that the notice was addressed properly and posted or that the facsimile transmission was dispatched.

	27.	ENTIRE AGREEMENT AND FORMER AGREEMENT(S)

This Agreement constitutes the entire agreement between the parties and shall be in substitution for any previous letters of appointment, agreements or arrangements, (whether written, oral or implied), relating to the employment of the Executive, which shall be deemed to have been terminated by mutual consent. The Executive acknowledges that as at the date of this Agreement she has no outstanding claim of any kind against the Company and/or any Group Company and in entering into this Agreement she has not relied on any Pre-Contractual Statement.
​
	28.	GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and interpreted in accordance with English law and the parties irrevocably agree to the exclusive jurisdiction of the English Courts.
​
	29.	THIRD PARTY RIGHTS

The Executive and the Company do not intend that any term of this Agreement should be enforceable, by virtue of the Contracts (Right of Third Parties) Act 1999 by any third party.
​
	30.	GENERAL

	30.1	There are no collective agreements affecting the terms and conditions of the Executive's employment.

22

​

​

	30.2	This Agreement constitutes the written statement of the terms of Employment of the Executive provided in compliance with part 1 of the ERA.

	30.3	The Executive agrees to consider diligently and promptly any reasonable changes proposed by the Company to this Agreement and, in particular, will not withhold consent to any changes required as a result of amendments to legislation or current established working practices. 

	30.4	The expiration or termination of this Agreement, however arising, shall not operate to affect such of the provisions of this Agreement as are expressed to operate or have effect after that time and shall be without prejudice to any accrued rights or remedies of the parties.

	30.5	The various provisions and sub-provisions of this Agreement are severable and if any provision or any identifiable part of any provision is held to be unenforceable by any court of competent jurisdiction then such unenforceability shall not affect the enforceability of the remaining provisions or identifiable parts of them.

​

23

​

​

	​
​
​

	​
 (print name)
​
​
​
​

	Signed as a deed by
JOANNA BREWER
​
	/s/ Joanna Brewer (signature)
​
Joanna Brewer (print name)
​
​
​

	in the presence of a Witness
	/s/ Phillipa Casbon (signature)
​
Phillipa Casbon 
Name of Witness
c/o Adaptimmune Limited
60 Jubilee Avenue, Milton Park,
Abingdon
Oxfordshire OX14 4RX
Address of Witness  

​
​
​

24

​

​

	Signed as a deed by 
ADAPTIMMUNE LIMITED
acting by two directors or 
a director and the 
company secretary:
​
	/s/ Adrian Rawcliffe
Adrian Rawcliffe 
Director
​
/s/ Margaret Henry
Margaret Henry
Director and Company Secretary

	​
	​

​

25

​Exhibit 4.4

 

WARRANT AGREEMENT

 

This
WARRANT AGREEMENT (this “Agreement”) is made as of [*], 2022 Bombax Healthcare Acquisition Corporation, a Cayman
Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company (the “Warrant
Agent”).

 

WHEREAS,
the Company is engaged in a public offering (the “Public Offering”) of up to 5,750,000 units (including 750,000 units
which may be issued pursuant to an over-allotment option granted to the underwriters of the Public Offering), each unit (the “Public
Units”) comprised of one Class A ordinary share of the Company, par value $0.0001 each (“Ordinary Share”)
and one-half of one redeemable warrant. Each whole redeemable warrant entitles the holder to purchase one Ordinary Share at a price of
$11.50 per share, subject to adjustment as described herein, and, in connection therewith, the Company will issue and deliver up to 2,875,000
warrants (the “Public Warrants”) to the public investors in connection with the Public Offering; and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1,
No. 333-260274 (as amended, the “Registration Statement”) and prospectus (the “Prospectus”),
for the registration, under the Securities Act of 1933, as amended (the “Act”) of, among other securities, the Public
Warrants; and

 

WHEREAS,
the Company has received binding commitments (the “Subscription Agreements”) from the Company’s sponsors, Bombax
Capital Partners Limited and Be Expert Limited (the “Sponsors”), to each purchase up to 2,470,000 warrants and 1,330,000
warrants (which includes 195,000 and 105,000, respectively, of additional private warrants to be purchased if the over-allotment is exercised
in full), respectively, simultaneously with the closing of the Public Offering at a price of $1.00 per warrant (the “Private
Warrants”, including the warrants that may be issued upon conversion of working capital loans and together with the Public Warrants,
the “Warrants”). Each whole Private Warrant is exercisable to purchase one Ordinary Share at a price of $11.50 per
share, bearing the legend set forth in Exhibit B hereto; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with
the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and
the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and
countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding, and legal obligations of the Company, and
to authorize the execution and delivery of this Agreement.

  

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1. Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant
Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Warrants.

 

2.1. Form
of Warrant. Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the
provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board of Directors
or Chief Executive Officer or Chief Financial Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a
facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased
to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect
as if he or she had not ceased to be such at the date of issuance.

 

     

     

    

 

2.2. Uncertificated
Warrants. Notwithstanding anything herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented
by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of The
Depository Trust Company (the “Depositary”) or other book-entry depositary system, in each case as determined by the
Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect
as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

 

2.3. Effect
of Countersignature. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant
Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

 

2.4. Registration.

 

2.4.1. Warrant
Register. The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance
and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register
the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Warrant Agent by the Company.

 

2.4.2. Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat
the person in whose name such Warrant is then registered in the Warrant Register (“registered holder”) as the absolute
owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant
certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.5. Detachability
of Warrants. The securities comprising the Units will not be separately transferable until the 52nd Business Day (as defined below)
or earlier with the consent of JonesTrading Institutional Services LLC (the “Representative”), but in no event will
the Representative allow separate trading of the securities comprising the Units until (i) the Company has filed a Current Report
on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public
Offering including the proceeds received by the Company from the exercise of the underwriters’ over-allotment option in the Public
Offering, if the over-allotment option is exercised prior to the filing of the Form 8-K, and (ii) the Company has issued
a press release and has filed a Current Report on Form 8-K announcing when such separate trading shall begin (the “Detachment
Date”). A “Business Day” means a day, other than a Saturday, Sunday or federal holiday, on which banks in New York
City are generally open for normal business.

 

2.6. Private
Warrant and Working Capital Warrants Attributes. The Private Warrants and the Working Capital Warrants will be identical to the Public
Warrants subject to the adjustments provided in Section 5.6. 

 

3. Terms and Exercise of Warrants

 

3.1. Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent (except with respect to uncertificated Warrants), entitle the registered
holder thereof, subject to the provisions of such Warrant and of this Agreement, to purchase from the Company the number of Ordinary Shares
stated therein, at the price of $11.50 per full share, subject to the adjustments provided in Section 4 hereof and in the last sentence
of this Section 3.1. The term “Warrant Price” as used in this Agreement refers to the price per share at which the Ordinary
Shares may be purchased at the time a Warrant is exercised. No fractional warrants will be issued upon separation of the units and only
whole warrants will trade. Any fractional warrants will be canceled for no consideration. As a result, such Registered Holder must hold
and separate units in multiples of two to not have any fractional warrants canceled. The Company in its sole discretion may lower the
Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days;
provided, that the Company shall provide at least twenty (20) days’ prior written notice of such reduction to registered holders
of the Warrants and, provided further that any such reduction shall be applied consistently to all of the Warrants.

 

    2

     

    

 

3.2. Duration
of Warrants. A Warrant may be exercised only during the period commencing on the consummation by the Company of a merger, share exchange,
asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses
or entities (“Business Combination”) (as described more fully in the Registration Statement), and terminating
at 5:00 p.m., New York City time on the earlier to occur of (i) the date that is five (5) years after the date on which the Company
consummates a Business Combination, (ii) at 5:00 p.m., New York City time on the Redemption Date as provided in Section 6.2
of this Agreement and (iii) the liquidation of the Trust Account (defined below) (“Expiration Date”). The period
of time from the date the Warrants will first become exercisable until the expiration of the Warrants shall hereafter be referred to as
the “Exercise Period.” Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder),
as applicable, each outstanding Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and
all rights in respect thereof under this Agreement shall cease at the close of business on the Expiration Date. The Company in its sole
discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide at
least twenty (20) days’ prior written notice of any such extension to registered holders and, provided further that any such
extension shall be applied consistently to all of the Warrants.

 

3.3. Exercise
of Warrants.

 

3.3.1. Payment.
Subject to the provisions of the Warrant and this Agreement, a Warrant, when countersigned by the Warrant Agent, may be exercised by the
registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by
paying in full the Warrant Price for each Ordinary Share as to which the Warrant is exercised and any and all applicable taxes due in
connection with the exercise of the Warrant, as follows:

 

(a)
in lawful money of the United States, by good certified check or good bank draft payable to the order of the Warrant Agent or wire transfer;

 

(b)
in the event of a redemption pursuant to Section 6.1 hereof in which the Company’s management has elected to force all holders
of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of Ordinary Shares
equal to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by
the excess of the “Fair Market Value” (defined below) over the Warrant Price by (y) the Fair Market Value. Solely for
purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported closing price of the Ordinary
Shares for the ten (10) trading days ending on the third trading day prior to the date of exercise on which the notice of redemption
is sent to holders of the Warrants pursuant to Section 6 hereof; or

  

(c)
in the event the registration statement required by Section 7.4 hereof is not effective and current within ninety (90) days
   after the closing of a Business Combination, by surrendering such Warrants for that number of Ordinary Shares equal
to the quotient obtained by dividing (x) the product of the number of Ordinary Shares underlying the Warrants, multiplied by the
excess of the “Fair Market Value” over the Warrant Price by (y) the Fair Market Value; provided, however, that no cashless
exercise shall be permitted unless the Fair Market Value is equal to or higher than the Warrant Price. Solely for purposes of this Section 3.3.1(c),
the “Fair Market Value” shall mean the average reported last sale price of the Ordinary Shares for the ten (10) trading
days ending on the third trading day prior to the date of exercise.

 

3.3.2. Issuance
of Ordinary Shares. As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant
Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates, or book entry position,
for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be directed by him, her
or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant, or book entry position, for the number
of shares as to which such Warrant shall not have been exercised. Notwithstanding the foregoing, in no event will the Company be required
to net cash settle the Warrant exercise. No Warrant shall be exercisable for cash and the Company shall not be obligated to issue Ordinary
Shares upon exercise of a Warrant unless the Ordinary Shares issuable upon such Warrant exercise have been registered, qualified or deemed
to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the condition
in the immediately preceding sentence is not satisfied with respect to a Warrant, the holder of such Warrant shall not be entitled to
exercise such Warrant for cash and such Warrant may have no value and expire worthless, in which case the purchaser of a Unit containing
such Warrants shall have paid the full purchase price for the Unit solely for the Ordinary Shares underlying such Unit. Warrants may not
be exercised by, or securities issued to, any registered holder in any state in which such exercise or issuance would be unlawful.

 

    3

     

    

 

3.3.3. Valid
Issuance. All Ordinary Shares issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued,
fully paid and non-assessable.

 

3.3.4. Date
of Issuance. Each person in whose name any book entry position or certificate for Ordinary Shares is issued shall for all purposes
be deemed to have become the holder of record of such shares on the date on which the Warrant, or book entry position representing such
Warrant, was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that,
if the date of such surrender and payment is a date when the share transfer books of the Company or book entry system of the Warrant Agent
are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date
on which the share transfer books or book entry system are open.

  

3.3.5 Maximum
Percentage. A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained
in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election.
If the election is made by a holder, the Warrant Agent shall not cause the exercise of the holder’s Warrant, and such holder shall
not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such
person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum
Percentage”) of the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing
sentence, the aggregate number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary
Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude
Ordinary Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned
by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible
preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as
set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d)
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining
the number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary Shares as reflected in (1) the
Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q, current report on Form 8-K or
other public filing with the SEC as the case may be, (2) a more recent public announcement by the Company or (3) any other notice
by the Company or the Warrant Agent setting forth the number of Ordinary Shares outstanding. For any reason at any time, upon the written
request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder
the number of Ordinary Shares then outstanding. In any case, the number of outstanding Ordinary Shares shall be determined after giving
effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such
number of outstanding Ordinary Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time increase
or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that
any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

 

4. Adjustments.

 

4.1. Share
Dividends; Split Ups. If after the date hereof, and subject to the provisions of Section 4.4.2 below, the number of outstanding
Ordinary Shares is increased by a share dividend payable in Ordinary Shares, or by a split up of Ordinary Shares, or other similar event,
then, on the effective date of such share dividend, split up or similar event, the number of Ordinary Shares issuable on exercise of each
Warrant shall be increased in proportion to such increase in outstanding Ordinary Shares.

 

4.2. Aggregation
of Shares. If after the date hereof, the number of outstanding Ordinary Shares is decreased by a consolidation, combination, reverse
share split or reclassification of Ordinary Shares or other similar event, then, on the effective date of such consolidation, combination,
reverse share split, reclassification or similar event, the number of Ordinary Shares issuable on exercise of each Warrant shall be decreased
in proportion to such decrease in outstanding Ordinary Shares.

    4

     

    

 

4.3 Extraordinary
Dividends. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding and unexpired, shall
pay a dividend or make a distribution in cash, securities or other assets to the holders of the Ordinary Shares on account of such Ordinary
Shares (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as described in
subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the redemption rights of the holders of the Ordinary
Shares in connection with a proposed initial Business Combination, (d) as a result of the repurchase of Ordinary Shares by the Company
in connection with an initial Business Combination or as otherwise permitted by the Investment Management Trust Agreement between the
Company and the Warrant Agent dated of even date herewith, (e) or as a result of the issuance of Ordinary Shares as a result of conversion
of the Rights issued in the Public Offering, or (f) in connection with the Company’s liquidation and the distribution of its assets
upon its failure to consummate a Business Combination (any such non-excluded event being referred to herein as an “Extraordinary
Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend,
by the amount of cash and the fair market value (as determined by the Company’s board of directors, in good faith) of any securities
or other assets paid on each Ordinary Share in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary
Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts
of all other cash dividends and cash distributions paid on the Ordinary Shares during the 365-day period ending on the date of declaration
of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section
4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of Ordinary
Shares issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

 

4.4
Adjustments in Exercise Price.

 

4.4.1
Whenever the number of Ordinary Shares purchasable upon the exercise of the Warrants is adjusted, as provided in Sections 4.1 and 4.2
above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price, immediately prior to such adjustment,
by a fraction, (a) the numerator of which shall be the number of Ordinary Shares purchasable upon the exercise of the Warrants immediately
prior to such adjustment, and (b) the denominator of which shall be the number of Ordinary Shares so purchasable immediately thereafter,
provided that no adjustment shall be made to the Warrant Price if this would result in the Warrant Price falling below the par value of
the Ordinary Shares. In such cases, the Warrant Price would be equal to the par value of the Ordinary Shares.

 

4.4.2
If (i) the Company issues additional Ordinary Shares or securities convertible into or exercisable or exchangeable for Ordinary Shares
for capital raising purposes in connection with the closing of the initial business combination at an issue price or effective issue price
of less than $9.20 per share of Ordinary Share, with such issue price or effective issue price to be determined in good faith by the Board,
(ii) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available
for funding the initial business combination, and (iii) the volume weighted average trading price of the Ordinary Shares during the 20
trading day period starting on the trading day prior to the day on which the Company consummates the initial business combination (the
“Market Value”) is below $9.20 per share, the Warrant Price shall be adjusted (to the nearest cent) to be equal to
115% of the Market Value, and the $23.00 per share redemption triggers the Company’s right to redeem the Warrants pursuant to Section
6.1 below shall be adjusted (to the nearest cent) to be equal to 180% of the Market Price.

 

4.5. Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares (other
than a change covered by Section 4.1, 4.2 or 4.3 hereof or that solely affects the par value of the Ordinary Shares), or in the case
of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company
is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares),
or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety
or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right
to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the Ordinary Shares
of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount
of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation,
or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised
his, her or its Warrant(s) immediately prior to such event. If any reclassification also results in a change in the Ordinary Shares covered
by Section 4.1, 4.2 or 4.3, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3, 4.4 and this Section 4.5.
The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers. In no event will the Warrant Price be reduced to less than the par value per share issuable upon exercise of
the Warrant. Notwithstanding anything to the contrary herein, in the event of any tender offer for Ordinary Shares, the offeror shall
not make any tender offer for Warrants if the effect of such offer would be to require the Warrants to be accounted for as liabilities
under applicable accounting principles. 

 

    5

     

    

 

4.6
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment
and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth
in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon the occurrence of any event specified
in Sections 4.1, 4.2, 4.3, 4.4, or 4.5, then, in any such event, the Company shall give written notice to each Warrant holder, at the
last address set forth for such holder in the Warrant Register, of the record date or the effective date of the event. Failure to give
such notice, or any defect therein, shall not affect the legality or validity of such event.

 

4.7. No
Fractional Warrants or Shares. Notwithstanding any provision contained in this Agreement to the contrary, the Company shall not issue
fractional shares upon exercise of Warrants or fractional warrants upon separation of the units and only whole warrants will trade. If,
by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such
Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round up to the nearest whole number of Ordinary
Shares to be issued to the Warrant holder.

 

4.8. Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant
to this Agreement. However, the Company may at any time in its sole discretion make any change in the form of Warrant that the Company
may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange
or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.9 Other
Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4
are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact
on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint
a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give
its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose
of this Section 4 and, if they determine that an adjustment is necessary, the terms of such adjustment. provided, however, that under
no circumstances shall the Warrants be adjusted pursuant to this Section 4.9 as a result of any issuance of securities in connection with
a Business Combination. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended
in such opinion.

 

5. Transfer and
Exchange of Warrants.

 

5.1. Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register,
upon surrender of such Warrant for transfer, properly endorsed with signatures, in the case of certificated Warrants, properly guaranteed
and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number
of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent. In the case of certificated Warrants, the Warrants
so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

 

5.2. Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, either in certificated form or in book entry position,
together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more
new Warrants, or book entry positions, as requested by the registered holder of the Warrants so surrendered, representing an equal aggregate
number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant
Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

    6

     

    

 

5.3. Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a warrant certificate or book-entry position for a fraction of a Warrant.

 

5.4. Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.5. Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms
of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required
by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

 

5.6. Private
Warrants. The Warrant Agent shall not register any transfer of Private Warrants until 30 days after the consummation by the Company
of an initial Business Combination, except for transfers (i) among the initial shareholders or to the initial shareholders’
or the Company’s officers, directors, consultants or their affiliates, (ii) to a holder’s shareholders or members upon
the holder’s liquidation, in each case if the holder is an entity, (iii) by bona fide gift to a member of the holder’s
immediate family or to a trust, the beneficiary of which is the holder or a member of the holder’s immediate family, in each case
for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified
domestic relations order, (vi) to the Company for no value for cancellation in connection with the consummation of a Business Combination,
(vii) in connection with the consummation of a Business Combination by private sales at prices no greater than the price at which
the Private Warrants were originally purchased, (viii) in the event of the Company’s liquidation prior to its consummation
of an initial Business Combination or (ix) in the event that, subsequent to the consummation of an initial Business Combination,
the Company completes a liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders
having the right to exchange their Ordinary Shares for cash, securities or other property, in each case (except for clauses (vi), (viii)
or (ix) or with the Company’s prior written consent) on the condition that prior to such registration for transfer, the Warrant
Agent shall be presented with written documentation pursuant to which each transferee (each, a “Permitted Transferee”)
or the trustee or legal guardian for such transferee agrees to be bound by the transfer restrictions contained in this section and any
other applicable agreement the transferor is bound by.

 

5.7. Transfers
prior to Detachment. Prior to the Detachment Date, the Public Warrants may be transferred or exchanged only together with the Unit
in which such Warrants are included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Units.
Furthermore, each transfer of a Unit on the register relating to such Unit shall operate also to transfer the Warrants included in such
Unit. Notwithstanding the foregoing, the provisions of this Section 5.7 shall have no effect on any transfer of Warrants on or after
the Detachment Date.

 

6. Redemption.

 

6.1. Redemption.
Not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time during the Exercise Period, at
the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $0.01 per Warrant (“Redemption
Price”), provided that the closing price of the Ordinary Shares equals or exceeds $23.00 per share (subject to adjustment in
accordance with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period commencing
after the Warrants become exercisable and ending on the third trading day prior to the date on which notice of redemption is given and
provided that there is an effective registration statement covering the Ordinary Shares issuable upon exercise of the Warrants, and a
current prospectus relating thereto, available throughout the 30-day redemption or the Company has elected to require the exercise
of the Warrants on a “cashless basis” pursuant to subsection 3.3.1(b); provided, however, that if and when the Warrants become
redeemable by the Company, the Company may not exercise such redemption right if the issuance of Ordinary Shares upon exercise of the
Warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect such
registration or qualification.

 

    7

     

    

 

6.2. Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the Company shall fix a
date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage
prepaid, by the Company not less than thirty (30) days prior to the Redemption Date to the registered holders of the Warrants to
be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall
be conclusively presumed to have been duly given whether or not the registered holder received such notice.

    

6.3. Exercise
After Notice of Redemption. The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3
of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and
prior to the Redemption Date. In the event the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless
basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate the number
of Ordinary Shares to be received upon exercise of the Warrants, including the “Fair Market Value” (as such term is defined
in subsection 3.3.1(b) hereof) in such case. On and after the Redemption Date, the record holder of the Warrants shall have no further
rights except to receive, upon surrender of the Warrants, the Redemption Price.

 

7. Other Provisions
Relating to Rights of Holders of Warrants.

 

7.1. No
Rights as Shareholder. A Warrant does not entitle the registered holder thereof to any of the rights of a shareholder of the Company,
including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent
or to receive notice as shareholders in respect of the meetings of shareholders or the election of directors of the Company or any other
matter.

 

7.2. Lost,
Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or
destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost,
stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3. Reservation
of Ordinary Shares. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares
that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

 

7.4. Registration
of Ordinary Shares. The Company agrees that as soon as practicable after the closing of its initial Business Combination, it shall
use its best efforts to file with the Securities and Exchange Commission a registration statement for the registration, under the Act,
of the Ordinary Shares issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is necessary to
register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states where holders
of Warrants then reside, the Ordinary Shares issuable upon exercise of the Warrants, to the extent an exemption is not available. The
Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration of the Warrants in accordance with the provisions of this Agreement. If
any such registration statement has not been declared effective by the 90th day following the closing of the Business Combination, holders
of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination and ending
upon such registration statement being declared effective by the Securities and Exchange Commission, and during any other period when
the Company shall fail to have maintained an effective registration statement covering the Ordinary Shares issuable upon exercise of the
Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(c). The Company
shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience)
stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be
registered under the Act and (ii) the Ordinary Shares issued upon such exercise will be freely tradable under U.S. federal securities
laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not be
required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have been exercised or have
expired, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this
Section 7.4. The provisions of this Section 7.4 may not be modified, amended, or deleted without the prior written consent of the Representative. 

 

    8

     

    

 

8. Concerning
the Warrant Agent and Other Matters.

 

8.1. Payment
of Taxes. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant
Agent in respect of the issuance or delivery of Ordinary Shares upon the exercise of Warrants, but the Company shall not be obligated
to pay any transfer taxes in respect of the Warrants or such Ordinary Shares.

 

8.2. Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1. Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall,
with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of
the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost. Any successor
Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the
State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized
under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment,
any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason
it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument
transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon
request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for
more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties,
and obligations.

  

8.2.2. Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the
predecessor Warrant Agent and the transfer agent for the Ordinary Shares not later than the effective date of any such appointment.

 

8.2.3. Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant
Agent under this Agreement without any further act.

 

8.3. Fees
and Expenses of Warrant Agent.

 

8.3.1. Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

 

8.3.2. Further
Assurances. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement. 

 

8.4. Liability
of Warrant Agent.

 

8.4.1. Reliance
on Company Statement. Whenever in the performance of its duties under this Agreement, the Warrant Agent shall deem it necessary or
desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer or Chairman of the Board of Directors of the Company and delivered to the Warrant
Agent. The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions
of this Agreement.

 

    9

     

    

 

8.4.2. Indemnity.
The Warrant Agent shall be liable hereunder only for its own fraud, gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s
fraud, gross negligence, willful misconduct, or bad faith.

 

8.4.3. Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would
require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any Ordinary Shares to be issued pursuant to this Agreement, the Amended and Restated Memorandum and Articles of Association
of the Company, or any Warrant or as to whether any Ordinary Shares will, when issued, be valid and fully paid and non-assessable.

 

8.5. Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms
and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently
account for, and pay to the Company, all monies received by the Warrant Agent for the purchase of Ordinary Shares through the exercise
of Warrants.

 

9. Miscellaneous
Provisions.

 

9.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns.

  

9.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant
to or on the Company shall be sufficiently given (i) if by email when the email is sent, (ii) if by hand or overnight delivery, when so
delivered, or (iii) if sent by certified mail or private courier service within five (5) days after deposit of such notice, postage
prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

 

Bombax Healthcare Acquisition Corporation

221 Henderson Road

#01-05 Henderson Road

Singapore 159557

Attn: Gary Chan, Chief Executive Officer

E-mail: gary.chan@cfocentre.com.hk

 

Any notice, statement
or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall
be sufficiently given (i) if by email, when the email is sent, (ii) if by hand or overnight delivery, when so delivered, or (iii) if sent
by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another
address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust
Company

1 State Street - 30th Floor

New York, NY 10004-1561Attn: Compliance
Department

E-mail: compliance@continentalstock.com

 

    10

     

    

 

with a copy in each case to:

 

Loeb& Loeb LLP

2206-19 Jardine House

1 Connaught Place

Central, Hong Kong SAR

Attn: Lawrence Venick, Esq.

E-mail: lvenick@loeb.com

 

and

King & Spalding LLP

1185 Avenue of the Americas, 34th Floor

New York, NY 10036

Attn: Adam Hankiss, Esq. and Kevin E.
Manz, Esq.

E-mail: ahankiss@kslaw.com and kmanz@kslaw.com

 

and

JonesTrading Institutional Services LLC

757 3rd Avenue, 23rd floor

New York, NY 10017

Attn: Burke Cook

E-mail: Burke@jonestrading.com

  

 

9.3. Applicable
Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in
all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application
of the substantive laws of another jurisdiction. Each of the Company and the Warrant Agent hereby agrees that any action, proceeding or
claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New
York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction. Each of
the Company and the Warrant Agent hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient
forum. Notwithstanding the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty
created by the Exchange Act or any other claim for which the federal courts of the United States of America have exclusive jurisdiction
or any complaint asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees
or agents. Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability
created by the Exchange Act or the rules and regulations thereunder. Any such process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the
address set forth in Section 9.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company
in any action, proceeding or claim.

 

9.4. Persons
Having Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
registered holders of the Warrants and, for the purposes of Sections 7.4, 9.4 and 9.8 hereof, the Representative, any right, remedy, or
claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative
shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 7.4, 9.4 and 9.8 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties
hereto (and the Representative with respect to the Sections 7.4, 9.4 and 9.8 hereof) and their successors and assigns and of the registered
holders of the Warrants.

  

9.5. Examination
of the Warrant Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in
the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant. The Warrant Agent may require
any such holder to submit his Warrant for inspection by it.

 

    11

     

    

 

9.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

  

9.7. Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

9.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
including to conform the provisions hereof to the description of the terms of the Warrants and this Agreement set forth in the Prospectus,
or curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders. All other modifications or amendments, including any amendment to increase the
Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders of a majority of
the then outstanding Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise
Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders. The provisions of this Section 9.8
may not be modified, amended or deleted without the prior written consent of the Representative.

 

9.9 Trust
Account Waiver. The Warrant Agent acknowledges and agrees that it shall not make any claims or proceed against the trust account established
by the Company in connection with the Public Offering (as more fully described in the Registration Statement) (“Trust Account”),
including by way of set-off, and shall not be entitled to any funds in the Trust Account under any circumstance. In the event
that the Warrant Agent has a claim against the Company under this Agreement, the Warrant Agent will pursue such claim solely against the
Company and not against the property held in the Trust Account.

 

9.10 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[signature page follows]

 

    12

     

    

 

IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

  

	 	BOMBAX HEALTHCARE ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	 	Name:	 Gary Chan
	 	 	Title: 	Chief Executive Officer
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	 
	 	 	Name: 	 
	 	 	Title: 	 

 

[Signature Page to Warrant Agreement]

 

     

     

    

 

EXHIBIT A

 

FORM OF WARRANT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

EXHIBIT B

 

LEGEND FOR PRIVATE WARRANTS

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN
EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT
BY AND AMONG BOMBAX HEALTHCARE ACQUISITION CORPORATION (THE “COMPANY”), JONESTRADING INSTITUTIONAL SERVICES
LLC AND THE OTHER PARTIES THERETO, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE THAT
IS THIRTY (30) DAYS AFTER THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL BUSINESS COMBINATION (AS DEFINED IN SECTION 3 OF THE WARRANT
AGREEMENT REFERRED TO HEREIN) EXCEPT TO A PERMITTED TRANSFEREE (AS DEFINED IN SECTION 5.6 OF THE WARRANT AGREEMENT) WHO AGREES IN WRITING
WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED BY THIS CERTIFICATE AND ORDINARY
SHARES OF THE COMPANY ISSUED UPON EXERCISE OF SUCH SECURITIES SHALL BE ENTITLED TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT
TO BE EXECUTED BY THE COMPANY.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]