Document:

Exhibit 10.5

 

FORM
OF AMENDED AND RESTATED

REGISTRATION
RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of ____, 202_, is made and
entered into by and among: (i) MoonLake Immunotherapeutics (formerly known as Helix Acquisition Corp.), a Cayman Islands exempted company
(the “Company”); (ii) Helix Holdings LLC, a Cayman Islands limited liability company (the “Sponsor”);
(iii) the persons or entities identified as “New Holders” on the signature pages hereto (collectively, the “New
Holders”); and (iv) the persons or entities identified as “Existing Holders” on the signature pages hereto
(the “Existing Holders,” and together with the Sponsor, the New Holders and any person or entity who hereafter
becomes a party to this Agreement pursuant to Section 6.2 or Section 6.10 of this Agreement, each a “Holder”
and collectively the “Holders”).

 

RECITALS

 

WHEREAS,
the Company, the Sponsor and the Existing Holders are party to that certain Registration Rights Agreement, dated as of October 19, 2020
(the “Original RRA”);

 

WHEREAS,
the Company has entered into that certain Business Combination Agreement, dated as of October 4, 2021 (as the same may be amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “BCA”), by and among
the Company, MoonLake Immunotherapeutics AG, a Swiss stock corporation (Aktiengesellschaft) registered with the commercial register
of the Canton of Zug (“MoonLake”), the ML Parties (as defined in the BCA), the Sponsor and the ML Parties’
Representative (as defined in the BCA), pursuant to which, among other things, (i) MoonLake issued Class V Voting Shares (each such MoonLake
Class V Voting Share having 10 times the voting power of a MoonLake common share) to the Company and, in exchange, the Company issued
Class C ordinary shares to the ML Parties and granted such ML Parties certain exchange rights and (ii) the issued and outstanding Class
B ordinary shares, par value $0.0001 per share, of the Company, all of which were held by the Sponsor and the Existing Holders, automatically
converted into Class A ordinary shares on a one-for-one basis (such Class A ordinary shares received upon the conversion, the “Founder
Shares”) (together with the other transactions contemplated by the BCA, the “Business Combination”);

 

WHEREAS,
in connection with the Business Combination, the Company has entered into that certain Restated and Amended Shareholders’ Agreement
dated as of ____, 202[1][2] (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time
to time, the “Shareholders’ Agreement”), by and among the Company, MoonLake and the New Holders, pursuant
to which, among other things, the New Holders will have the right, in certain circumstances described therein, to receive Class A ordinary
shares upon exchange of their Class C ordinary shares and their Retained Company Shares;

 

WHEREAS,
pursuant to the second amended and restated memorandum and articles of the Company (such amended and restated memorandum and articles,
as the same may be amended, restated, amended and restated, supplemented or otherwise modified form time (the “Company Charter”)),
the Company is authorized to issue the following classes of stock: (A) Class A ordinary shares, par value $0.0001 per share, of the Company
(the “Class A ordinary shares”), (ii) Class C ordinary shares, par value $0.0001 per share, of the Company
(the “Class C ordinary shares”, and together with the Class C ordinary shares, the “Ordinary Shares”),
and (iii) preference shares, par value $0.0001 each of the Company;

 

WHEREAS,
in connection with the Business Combination, the Company conducted a private placement of its Class A ordinary shares (the “PIPE
Investment”) pursuant to the terms of one or more Subscription Agreements, and certain Holders purchased additional Class
A ordinary shares pursuant thereto (the “PIPE Shares”);

 

    1

     

    

 

WHEREAS,
pursuant to Section 5.5 of the Original RRA, the provisions, covenants and conditions set forth therein may be amended or modified upon
the written consent of the Company and the holders of a majority-in-interest of the “Registrable Securities” (as such term
is defined in the Original RRA) at the time in question; and

 

WHEREAS,
the Company and the Sponsor desire to amend and restate the Original RRA in its entirety as set forth herein and the Company and the
Existing Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights
with respect to the Registrable Securities (as defined below) on the terms and conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby
agree as follows:

 

Article
I

DEFINITIONS

 

1.1
Definitions.
The terms defined in this Article I shall,
for all purposes of this Agreement, have the respective meanings set forth below:

 

“Additional
Holder” has the meaning given in Section 6.10 hereof.

 

“Additional
Holder Shares” has the meaning given in Section 6.10 hereof.

 

“Adverse
Disclosure” shall mean any public disclosure of material non-public information, which disclosure, after consultation with
counsel to the Company, in the good faith judgment of the Chief Executive Officer or Chief Financial Officer of the Company or the Board,
(i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement
or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were
made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, declared
effective or used, as the case may be, and (iii) the Company has a bona fide business purpose for not making such information
public.

 

“Affiliate”
means, with respect to any Person, any other Person who, directly or indirectly, controls, is controlled by, or is under direct or indirect
common control with, such Person, and, in the case of an individual, also includes any member of such individual’s Immediate Family;
provided that the Company and its subsidiaries will not be deemed to be Affiliates of any Holder of Registrable Securities. As used in
this definition, “control” (including, with its correlative meanings, “controlling”, “controlled by”
and “under common control”) shall mean possession, directly or indirectly, of power to direct or cause the direction of the
management and policies of a Person, directly or indirectly, whether through ownership of voting securities or partnership or other ownership
interests by contract or otherwise.

 

“Agreement”
shall have the meaning given in the Preamble hereto.

 

“BCA”
shall have the meaning given in the Recitals hereto.

 

    2

     

    

 

“Block
Trade” means an offering or sale of Registrable Securities by any Holder on a block trade or underwritten basis (whether
firm commitment or otherwise) effected pursuant to a Registration Statement without substantial marketing efforts prior to pricing, including,
without limitation, a same day trade, overnight trade or similar transaction.

 

“Board”
shall mean the board of directors of the Company.

 

“Business
Combination” shall have the meaning given in the Recitals hereto.

 

“Business
Day” means any day other than a Saturday, Sunday or any other day on which commercial banks are required or authorized
to close in the State of New York, the Canton of Zug, Switzerland, or the Cayman Islands.

 

“Class
A ordinary shares” shall have the meaning given in the Recitals hereto.

 

“Closing”
shall have the meaning given in the BCA.

 

“Closing
Date” shall have the meaning given in the BCA.

 

“Commission”
shall mean the U.S. Securities and Exchange Commission.

 

“Company”
shall have the meaning given in the Preamble hereto and includes the Company’s successors by recapitalization, merger, consolidation,
spin-off, reorganization or similar transaction.

 

“Company
Charter” shall have the meaning given in the Recitals hereto.

 

“Demanding
Holder” shall have the meaning given in Section 2.1.4 hereof.

 

“Effectiveness
Deadline” shall have the meaning given in subsection 2.1.1.

 

“Exchange
Act” shall mean the U.S. Securities Exchange Act of 1934, as amended from time to time.

 

“Existing
Holders” shall have the meaning given in the Recitals hereto.

 

“Filing
Deadline” shall have the meaning given in Section 2.1.1 hereof.

 

“FINRA”
shall mean the Financial Industry Regulatory Authority, Inc.

 

“Form
S-1 Shelf” shall have the meaning given in Section 2.1.1 hereof.

 

“Form
S-3 Shelf” shall have the meaning given in Section 2.1.1 hereof.

 

“Founder
Shares” shall have the meaning given in the Recitals hereto.

 

“Holder
Information” shall have the meaning given in Section 4.1.2 hereof.

 

“Holders”
shall have the meaning given in the Preamble hereto, for so long as such person or entity holds any Registrable Securities.

 

    3

     

    

 

“Immediate
Family” shall mean any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, sister-in-law and shall include adoptive relationships.

 

“Insider
Letter” means that certain letter agreement, dated as of October 19, 2020, by and among the Company, the Sponsor and certain
of the Company’s current and former officers and directors.

 

“Joinder”
shall have the meaning given in Section 6.10 hereof.

 

“Lock-up
Periods” shall mean each of the periods beginning on the Closing Date and ending, (i) with respect to the Sponsor’s
and the Existing Holders’ Founder Shares, the period ending on the earlier of (x) the date that is the one-year anniversary of
the Closing Date, (y) the date on which the last reported sale price of the Class A ordinary shares equals or exceeds $12.00 per share
(as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
day period commencing at least 150 days after the Closing Date or (z) the date on which the Company completes a liquidation, merger,
share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right
to exchange their Class A ordinary shares for cash, securities or other property (the “Founder Shares Lock-up Period”);
(ii) with respect to the Sponsor’s (or its Permitted Transferees) Private Placement Shares, 30 days from the Closing Date (the
“Private Placement Lock-up Period”); (iii) with respect to the New Holders’ Lock-up Shares (other than
BVF’s Lock-up Shares), the six-month anniversary of the Closing Date (the “New Holders Lock-up Period”)
or (iv) with respect to the Lock-up Shares of Biotechnology Value Fund LP, Biotechnology Value Fund II LP, Biotechnology Value Trading
Fund OS and MSI BVF SPV LLC (collectively, “BVF”), the Founder Shares Lock-up Period (with respect to BVF’s
Lock-up Shares, the “BVF Lock-up Period”).

 

“Lock-up
Shares” shall mean, (i) with respect to the Sponsor, the Existing Holders and their Permitted Transferees, the Class A
ordinary shares held by them immediately following the Closing (other than PIPE Shares subscribed in connection with the PIPE Investment);
and (ii) with respect to the New Holders and BVF and their respective Permitted Transferees, (a) the Class A ordinary shares or the Class
C ordinary shares held by them immediately following the Closing and (b) any Class A ordinary shares received prior to the expiration
of the New Holders Lock-up Period or the BVF Lock-up Period, as applicable, upon the exchange of their Class C ordinary shares and Retained
Company Shares pursuant to the Shareholders’ Agreement.

 

“Maximum
Number of Securities” shall have the meaning given in Section 2.1.5 hereof.

 

“Minimum
Takedown Threshold” shall have the meaning given in Section 2.1.4 hereof.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus or necessary to make the statements in a Registration Statement or Prospectus (in the case of a Prospectus, in the light
of the circumstances under which they were made) not misleading.

 

“MoonLake”
shall have the meaning given in the Recitals hereto.

 

“New
Holders” shall have the meaning given in the Preamble hereto.

 

“Original
RRA” shall have the meaning given in the Recitals hereto.

 

    4

     

    

 

“Permitted
Transferees” shall mean (a) with respect to the Sponsor, the Existing Holders and their respective Permitted Transferees,
(i) prior to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as applicable, any person or
entity to whom such Holder is permitted to transfer such Registrable Securities prior to the expiration of the relevant Lock-up Period
pursuant to Section 5.2 hereof and (ii) after the expiration of the Founder Shares Lock-up Period or the Private Placement
Lock-up Period, as applicable, any person or entity to whom such Holder is permitted to transfer such Registrable Securities, subject
to and in accordance with any applicable agreement between such Holder and/or their respective Permitted Transferees and the Company
and any transferee thereafter; (b) with respect to the New Holders and their respective Permitted Transferees, (i) prior to the expiration
of the New Holders Lock-up Period or the BVF Lock-up Period, as applicable, any person or entity to whom such Holder is permitted to
transfer such Registrable Securities prior to the expiration of the New Holders Lock-up Period or the BVF Lock-up Period pursuant to
Section 5.2 hereof and (ii) after the expiration of the New Holders Lock-up Period and the BVF Lock-up Period, any person
or entity to whom such Holder is permitted to transfer such Registrable Securities, in each of (b)(i) and (ii) above subject to and in
accordance with the Shareholders’ Agreement and any applicable agreement between such Holder and/or their respective Permitted
Transferees and the Company and any transferee thereafter; and (c) with respect to all other Holders and their respective Permitted Transferees,
any person or entity to whom such Holder of Registrable Securities is permitted to transfer such Registrable Securities, subject to and
in accordance with any applicable agreement between such Holder and/or their respective Permitted Transferees and the Company and any
transferee thereafter.

 

“Piggyback
Registration” shall have the meaning given in Section 2.2.1 hereof.

 

“PIPE
Investment” shall have the meaning given in the Recitals hereto.

 

“PIPE
Shares” shall have the meaning given in the Recitals hereto.

 

“Private
Placement Shares” means 430,000 Class A ordinary shares acquired by the Sponsor pursuant to that certain Private Placement
Class A Ordinary Shares Purchase Agreement, dated as of October 19, 2020, between the Sponsor and the Company

 

“Prospectus”
shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended
by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable
Security” shall mean (a) the Founder Shares, (b) the Private Placement Shares, (c) any issued and outstanding Class A ordinary
shares or any other equity security (including the Class A ordinary shares issued or issuable upon the exercise of any other equity security)
of the Company held by a Holder as of the date of this Agreement, (d) any equity securities (including the Class A ordinary shares issued
or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans in an
amount up to $1,500,000 made to the Company by a Holder, (e) the Class A ordinary shares issued or issuable to the New Holders in connection
with the exchange of their Class C ordinary shares and Retained Company Shares pursuant to the Shareholders’ Agreement, (f) any
PIPE Shares held by a Holder, (g) any other equity securities (including Class A ordinary shares) of the Company held by a New Holder
at the Closing Date and (h) any other equity security of the Company or its subsidiaries issued or issuable with respect to any such
share of Class A ordinary shares referenced in (a), (b), (c), (d), (e), (f) or (g) above by way of a stock dividend or stock split or
in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, however,
that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (i) a Registration Statement
with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been
sold, transferred, disposed of or exchanged in accordance with such Registration Statement by the applicable Holder; (ii) such securities
shall have been otherwise transferred, new certificates for such securities not bearing (or book entry positions not subject to) a legend
restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not
require registration under the Securities Act; (iii) such securities shall have ceased to be outstanding; (iv) following the third anniversary
of the Agreement, such securities may be sold without registration pursuant to Rule 144 (but without the requirement to comply with any
limitations) and (v) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other
public securities transaction.

 

    5

     

    

 

“Registration”
shall mean a registration, including any related Shelf Takedown, effected by preparing and filing a Registration Statement, Prospectus
or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder,
and such registration statement becoming effective.

 

“Registration
Expenses” shall mean the documented, out-of-pocket expenses of a Registration, including, without limitation, the following:

 

(A)
all registration and filing fees (including fees with respect to filings required to be made with FINRA) and any national securities
exchange on which the Class A ordinary shares is then listed;

 

(B)
fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of outside counsel for
the Underwriters in connection with blue sky qualifications of Registrable Securities);

 

(C)
fees and disbursements of underwriters customarily paid by issuers of securities in a secondary offering, but excluding underwriting
discounts and commissions and transfer taxes, if any, with respect to Registrable Securities sold by Holders;

 

(D)
printing, messenger, telephone and delivery expenses;

 

(E)
reasonable fees and disbursements of counsel for the Company;

 

(F)
reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection
with such Registration; and

 

(G)
reasonable fees and expenses of one legal counsel selected by the majority-in-interest of the Demanding Holders in an Underwritten Offering.

 

“Registration
Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this
Agreement, including any Shelf, and, in each case, including the Prospectus included in such registration statement, amendments (including
post-effective amendments) and supplements to such registration statement and all exhibits to, and all material incorporated by reference
in, such registration statement.

 

“Requesting
Holders” shall have the meaning given in Section 2.1.5 hereof.

 

“Retained
Company Shares” shall have the meaning given in the BCA.

 

    6

     

    

 

“Rule
144” shall mean Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor rule
thereto that may be promulgated by the Commission.

 

“Securities
Act” shall mean the U.S. Securities Act of 1933, as amended from time to time.

 

“Shareholders’
Agreement” shall have the meaning given in the Recitals hereto.

 

“Shelf”
shall mean the Form S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration, as the case may be.

 

“Shelf
Registration” shall mean a registration of securities pursuant to a registration statement filed with the Commission in
accordance with and pursuant to Rule 415 promulgated under the Securities Act, as amended from time to time, or any similar successor
rule thereto that may be promulgated by the Commission.

 

“Shelf
Takedown” shall mean an Underwritten Shelf Takedown or any proposed transfer or sale using a Registration Statement, including
a Piggyback Registration.

 

“Sponsor”
shall have the meaning given in the Preamble hereto.

 

“Subsequent
Shelf Registration” shall have the meaning given in Section 2.1.2 hereof.

 

“Total
Limit” shall have the meaning given in Section 2.1.4 hereof.

 

“Transfer”
shall mean the (i) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation, pledge, grant of any option to
purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent
position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act
with respect to, any security, (ii) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in
cash or otherwise, or (iii) public announcement of any intention to effect any transaction specified in clause (i) or (ii).

 

“Underwriter”
shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such
dealer’s market-making activities.

 

“Underwritten
Lock-up Period” shall have the meaning given in Section 2.3 hereof.

 

“Underwritten
Offering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment
underwriting for distribution to the public, including a Block Trade.

 

“Underwritten
Shelf Takedown” shall have the meaning given in Section 2.1.4 hereof.

 

“Withdrawal
Notice” shall have the meaning given in Section 2.1.6 hereof.

 

“Yearly
Limit” shall have the meaning given in Section 2.1.4 hereof.

 

    7

     

    

 

Article
II

REGISTRATIONS AND OFFERINGS

 

2.1
Shelf Registration.

 

2.1.1
Filing. The Company shall, subject to Section 3.4 hereof, submit or file within 30 days of the Closing Date (the “Filing
Deadline”), and use commercially reasonable efforts to cause to be declared effective as soon as practicable thereafter,
a Registration Statement for a Shelf Registration on Form S-1 (the “Form S-1 Shelf”), or, if the Company is
eligible to use a Registration Statement on Form S-3, a Shelf Registration on Form S-3 (the “Form S-3 Shelf”),
in each case, covering the resale of all the Registrable Securities (determined as of two Business Days prior to such submission or filing)
on a delayed or continuous basis and shall use its commercially reasonable efforts to have the Shelf declared effective after the filing
thereof, but no later than the earlier of (i) the 60th calendar day (or 90th calendar day if the Commission notifies the Company that
it will “review” the Registration Statement) following the earlier of (A) the filing of the Registration Statement and (B)
the Filing Deadline, and (ii) the 10th Business Day after the date the Company is notified (orally or in writing, whichever is earlier)
by the Commission that the Registration Statement will not be “reviewed” or will not be subject to further review (such
deadline the “Effectiveness Deadline”), provided, that if the Filing Deadline or Effectiveness Deadline
falls on Saturday, Sunday or other day that the Commission is closed for business, the Filing Deadline or Effectiveness Deadline, as
the case may be, shall be extended to the next Business Day on which the Commission is open for business.
Such Shelf shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods
legally available to, and requested by, any Holder named therein. Subject to Sections 2.1.2 and 3.4 hereof, the Company
shall maintain a Shelf in accordance with the terms hereof, and shall prepare and file with the Commission such amendments, including
post-effective amendments, and supplements as may be necessary to keep a Shelf continuously effective, available for use by the Holders
named therein to sell their Registrable Securities included therein, and in compliance with the provisions of the Securities Act until
such time as there are no longer any Registrable Securities. In the event the Company files a Form S-1 Shelf, the Company shall use its
commercially reasonable efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration) to a Form S-3 Shelf as soon as
reasonably practicable after the Company is eligible to use Form S-3.

 

2.1.2
Subsequent Shelf Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable
Securities are still outstanding, the Company shall, subject to Section 3.4 hereof, use its commercially reasonable efforts to,
as promptly as is reasonably practicable, cause such Shelf to again become effective under the Securities Act (including using its commercially
reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially
reasonable efforts to, as promptly as is reasonably practicable, amend such Shelf in a manner reasonably expected to result in the withdrawal
of any order suspending the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent
Shelf Registration”) registering the resale of all Registrable Securities under such Shelf (determined as of two Business
Days prior to such filing), and pursuant to any method or combination of methods legally available to, and requested by, any Holder named
therein. If a Subsequent Shelf Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent
Shelf Registration to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof (it
being agreed that the Subsequent Shelf Registration shall be an automatic shelf registration statement (as defined in Rule 405 promulgated
under the Securities Act) if the Company is a well-known seasoned issuer (as defined in Rule 405 promulgated under the Securities Act)
at the most recent applicable eligibility determination date) and (ii) keep such Subsequent Shelf Registration continuously effective,
available for use by the Holders named therein to sell their Registrable Securities included therein, and in compliance with the provisions
of the Securities Act until such time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall
be on Form S-3, to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on
another appropriate form.

 

    8

     

    

 

2.1.3
Additional Registrable Securities. Subject to Section 3.4 hereof, in the event that any Holder or Holders, collectively,
hold Registrable Securities that are not registered for resale on a delayed or continuous basis, the Company, upon request of any such
Holder or Holders, shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to be covered
by either, at the Company’s option, any then-available Shelf (including by means of a post-effective amendment) or a Subsequent
Shelf Registration and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf
Registration shall be subject to the terms hereof; provided, however, that (i) the Company shall only be required to cause such
Registrable Securities to be covered if the total offering price thereof is reasonably expected to exceed, in the aggregate, $25 million
and (ii) the Company shall only be required to register Registrable Securities pursuant to this Section 2.1.3 twice per calendar.

 

2.1.4
Requests for Underwritten Shelf Takedowns. Following the expiration of the Founder Shares Lock-up Period, the BVF Lock-up Period,
the New Holders Lock-up Period or the Private Placement Lock-up Period, as applicable, at any time and from time to time when an effective
Shelf is on file with the Commission, any New Holder, Existing Holder, BVF or the Sponsor, or any combination thereof (any of the New
Holders, Existing Holders, BVF or the Sponsor making such demand, a “Demanding Holder”) may request to sell
all or any portion of its Registrable Securities in an Underwritten Offering or other coordinated offering that is registered pursuant
to a Shelf (each, an “Underwritten Shelf Takedown”); provided that the Company shall only be obligated
to effect an Underwritten Shelf Takedown if such offering shall include (a) Registrable Securities proposed to be sold by the Demanding
Holder, either individually or together with other Demanding Holders, with a total offering price reasonably expected to exceed, in the
aggregate, $25 million (the “Minimum Takedown Threshold”) or (b) if the Demanding Holders hold Registrable
Securities with a total offering price reasonably expected to be less than the Minimum Takedown Threshold, all of the Registrable Securities
held by a Demanding Holder. All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company, which
shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown. The Company shall
have the right to select the Underwriters for such offering (which shall consist of one or more reputable nationally recognized investment
banks), subject to the prior approval by the Demanding Holder(s) (which shall not be unreasonably withheld, conditioned or delayed).
The New Holders and BVF, collectively, on the one hand, and the Existing Holders and the Sponsor, collectively, on the other hand, may
each demand Underwritten Shelf Takedowns pursuant to this Section 2.1.4 (i) not more than three times in any 12-month period
(the “Yearly Limit”) and (ii) not more than five times in the aggregate (the “Total Limit”).
Notwithstanding anything to the contrary in this Agreement, the Company may effect any Underwritten Offering pursuant to any then-effective
Registration Statement, including a Form S-3, which is then available for such offering.

 

    9

     

    

 

2.1.5
Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten Shelf Takedown, in good faith,
advises the Company, the Demanding Holder(s) and the Holders requesting piggy back rights pursuant to this Agreement with respect to
such Underwritten Shelf Takedown (the “Requesting Holders”) (if any) in writing that the dollar amount or number
of Registrable Securities that the Demanding Holder(s) and the Requesting Holders (if any) desire to sell, taken together with all other
Class A ordinary shares or other equity securities that the Company desires to sell and all other Class A ordinary shares or other equity
securities, if any, that have been requested to be sold in such Underwritten Offering pursuant to separate written contractual piggy-back
registration rights held by any other stockholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity
securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution
method or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable,
the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, before including
any Class A ordinary shares or other equity securities proposed to be sold by the Company or by other holders of Class A ordinary shares
or other equity securities, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata
based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included
in such Underwritten Shelf Takedown and the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders
(if any) have requested be included in such Underwritten Shelf Takedown) that can be sold without exceeding the Maximum Number of Securities.

 

2.1.6
Underwritten Shelf Takedown Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus
supplement used for marketing such Underwritten Shelf Takedown, a majority-in-interest of the Demanding Holders initiating an Underwritten
Shelf Takedown shall have the right to withdraw from such Underwritten Shelf Takedown for any or no reason whatsoever upon written notification
(a “Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw
from such Underwritten Shelf Takedown; provided that any other Demanding Holder(s) may elect to have the Company continue an Underwritten
Shelf Takedown if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities proposed to be sold in the Underwritten
Shelf Takedown by the Demanding Holder(s). If withdrawn, a demand for an Underwritten Shelf Takedown shall constitute a demand for an
Underwritten Shelf Takedown by the withdrawing Demanding Holder for purposes of Section 2.1.4 hereof and shall count toward the
Yearly Limit and the Total Limit, unless either (i) the Demanding Holder(s) making the withdrawal has not previously withdrawn any
Underwritten Shelf Takedown or (ii) the Demanding Holder(s) making the withdrawal reimburses the Company for all Registration Expenses
with respect to such Underwritten Shelf Takedown (or, if there is more than one Demanding Holder, a pro rata portion of such Registration
Expenses based on the respective number of Registrable Securities that each Demanding Holder has requested be included in such Underwritten
Shelf Takedown); provided that, if any other Demanding Holder(s) elects to continue an Underwritten Shelf Takedown pursuant to
the proviso in the immediately preceding sentence, such Underwritten Shelf Takedown shall instead count as an Underwritten Shelf Takedown
demanded by the Demanding Holders for purposes of Section 2.1.4 hereof and shall count toward the Yearly Limit and the Total Limit.
Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice to any other Demanding Holders
and Requesting Holders. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration
Expenses incurred in connection with a Shelf Takedown prior to its withdrawal under this Section 2.1.6, other than if a Demanding
Holder elects to pay such Registration Expenses pursuant to clause (ii) of the second sentence of this Section 2.1.6.

 

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2.2
Piggyback Registration.

 

2.2.1
Piggyback Rights. If the Company or any Holder proposes to conduct a registered offering of, or if the Company proposes to file
a Registration Statement under the Securities Act with respect to the Registration of, equity securities, or securities or other obligations
exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders of the
Company (or by the Company and by the stockholders of the Company including, without limitation, an Underwritten Shelf Takedown pursuant
to Section 2.1 hereof), other than a Registration Statement (or any registered offering with respect thereto) (i) filed in
connection with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of securities solely to
the Company’s existing stockholders, (iii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a
transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iv) for an offering of debt that is convertible
into equity securities of the Company or (v) for a dividend reinvestment plan, then the Company shall give written notice of such
proposed offering to all of the Holders of Registrable Securities as soon as practicable but not less than ten days before the anticipated
filing date of such Registration Statement or, in the case of an Underwritten Offering pursuant to a Shelf Registration, the applicable
“red herring” prospectus or prospectus supplement used for marketing such offering, which notice shall (A) describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed
managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the
opportunity to include in such registered offering such number of Registrable Securities as such Holders may request in writing within
five days after receipt of such written notice (such Registration, a “Piggyback Registration”). Subject to
Section 2.2.2 hereof, the Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback
Registration and, if applicable, shall use its commercially reasonable efforts to cause the managing Underwriter or Underwriters of such
Piggyback Registration to permit the Registrable Securities requested by the Holders pursuant to this Section 2.2.1 to be included
therein on the same terms and conditions as any similar securities of the Company included in such registered offering and to permit
the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. The inclusion
of any Holder’s Registrable Securities in a Piggyback Registration shall be subject to such Holder’s agreement to enter into
an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company. For the avoidance
of doubt, the notice periods set forth in this Section 2.2.1 shall not apply to an Underwritten Shelf Takedown conducted in accordance
with Section 2.1.4 or Block Trades conducted in accordance with Section 2.4.

 

2.2.2
Reduction of Piggyback Registration. If the managing Underwriter or Underwriters in an Underwritten Offering that is to be a Piggyback
Registration, in good faith, advise(s) the Company and the Holders of Registrable Securities participating in the Piggyback Registration
in writing that the dollar amount or number of Class A ordinary shares or other equity securities that the Company or the Demanding Holders
desire to sell, taken together with (i) the number of Class A ordinary shares or other equity securities, if any, as to which Registration
or a registered offering has been demanded pursuant to separate written contractual arrangements with persons or entities other than
the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which Registration has been requested pursuant
to Section 2.2.1 and (iii) the number of Class A ordinary shares or other equity securities, if any, as to which Registration
or a registered offering has been requested pursuant to separate written contractual piggy-back registration rights of persons or entities
other than the Holders of Registrable Securities hereunder, exceeds the Maximum Number of Securities, then:

 

(a)
if the Registration or registered offering is undertaken for the Company’s account, the Company shall include in any such Registration
or registered offering (A) first, the number of Class A ordinary shares or other equity securities that the Company desires to sell,
which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their
Registrable Securities pursuant to Section 2.2.1 hereof, pro rata, based on the respective number of Registrable Securities
that each Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that the
Holders have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities;
and (C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the
number of Class A ordinary shares or other equity securities, if any, as to which Registration or a registered offering has been requested
pursuant to separate written contractual piggy-back registration rights of persons or entities other than the Holders of Registrable
Securities hereunder, which can be sold without exceeding the Maximum Number of Securities;

 

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(b)
 if the Registration or registered offering is pursuant to a request by persons or entities other than the Holders of Registrable
Securities, then the Company shall include in any such Registration or registered offering (A) first, the number of Class A ordinary
shares or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities,
which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their
Registrable Securities pursuant to Section 2.2.1 hereof, pro rata, based on the respective number of Registrable Securities
that each Holder has requested be included in such Underwritten Offering and the aggregate number of Registrable Securities that the
Holders have requested to be included in such Underwritten Offering, which can be sold without exceeding the Maximum Number of Securities;
(C) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A) and (B), the number
of Class A ordinary shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(A), (B) and (C), the number of Class A ordinary shares or other equity securities, if any, as to which Registration or a registered
offering has been requested pursuant to separate written contractual piggy-back registration rights of such persons or entities other
than the Holders of Registrable Securities hereunder, which can be sold without exceeding the Maximum Number of Securities; and

 

(c)
  if the Registration or registered offering is pursuant to a request by Holder(s) of Registrable Securities pursuant to Section
2.1 hereof, then the Company shall include in any such Registration or registered offering securities in the priority set forth in
Section 2.1.5 hereof.

 

2.2.3
Piggyback Registration Withdrawal. Any Holder of Registrable Securities (other than a Demanding Holder, whose right to withdraw
from an Underwritten Shelf Takedown, and related obligations, shall be governed by Section 2.1.6 hereof) shall have the right
to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter
or Underwriters (if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the
Registration Statement filed with the Commission with respect to such Piggyback Registration or, in the case of a Piggyback Registration
pursuant to a Shelf Registration, the filing of the applicable “red herring” prospectus or prospectus supplement with respect
to such Piggyback Registration used for marketing such transaction. The Company (whether on its own good faith determination or as the
result of a request for withdrawal by persons or entities pursuant to separate written contractual obligations) may withdraw a Registration
Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration
Statement. Notwithstanding anything to the contrary in this Agreement (other than Section 2.1.6 hereof), the Company shall be
responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this Section
2.2.3.

 

2.2.4
Unlimited Piggyback Registration Rights. For purposes of clarity, subject to Section 2.1.6 hereof, any Piggyback Registration
effected pursuant to Section 2.2 hereof shall not be counted as a demand for an Underwritten Shelf Takedown under Section 2.1.4
hereof and shall not count toward the Yearly Limit or the Total Limit.

 

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2.3
Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade)
or any Company-initiated Registration for the account of the Company (subject to the Company’s compliance with Section 2.2 hereof),
each Holder that is an executive officer, director or Holder in excess of 5% of the then-outstanding Class A ordinary shares (calculated,
in the case of each New Holder, as if all of its Class C ordinary shares and Retained Company Shares are exchanged for Class A ordinary
shares) agrees that it shall not Transfer any Class A ordinary shares or other equity securities of the Company (other than those included
in such offering pursuant to this Agreement), without the prior written consent of the Company, during the 90-day period (or such shorter
time agreed to by the managing Underwriters) beginning on the date of pricing of such offering (the “Underwritten Lock-up
Period”), except as expressly permitted by such lock-up agreement or in the event the Underwriters managing the offering
otherwise consent in writing. Each Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect
(in each case on substantially the same terms and conditions as the Company’s directors and executive officers or the other stockholders
of the Company). The Company will not be obligated to undertake an Underwritten Shelf Takedown during any Underwritten Lock-up Period
binding on the Holders, nor will the Company be obligated to include in any Piggyback Registration any Registrable Securities that are
then subject to a “lock-up” agreement.

 

2.4
Block Trades.

 

2.4.1
Notwithstanding any other provisions of this Agreement, but subject to Section 3.4, if a Demanding Holder desires to effect a
Block Trade, with a total offering price reasonably expected to exceed, in the aggregate, either (x) the Minimum Takedown Threshold or
(y) all remaining Registrable Securities held by such Demanding Holder, then notwithstanding the time periods provided for in Section ‎2.2.1,
such Demanding Holder only needs to notify the Company of the Block Trade at least three (3) business days prior to the day such
offering is to commence and the Company shall as promptly as is reasonably practicable, use its commercially reasonable efforts to facilitate
such Block Trade; provided that the Demanding Holder wishing to engage in the Block Trade shall use its commercially reasonable
efforts to work with the Company and any Underwriters or placement agents or sales agents prior to making such request in order to facilitate
preparation of the registration statement, prospectus and other offering documentation related to such Block Trade.

 

2.4.2
Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used in connection with a Block Trade,
the Demanding Holder that initiated such Block Trade shall have the right to submit a Withdrawal Notice to the Company and the Underwriter
or Underwriters or placement agents or sales agents (if any) of their intention to withdraw from such Block Trade. Notwithstanding anything
to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a block
trade prior to its withdrawal under this Section ‎2.4.2 in the first instance of any such withdrawal; provided,
that the Holder shall be responsible for the Registration Expenses incurred in connection with a block trade prior to any subsequent
withdrawal under this Section 2.4.2.

 

2.4.3
Notwithstanding anything to the contrary in this Agreement, Section ‎2.2 hereof shall not apply to a Block Trade initiated
by a Demanding Holder pursuant to this Agreement.

 

2.4.4
The Demanding Holder wishing to engage in a Block Trade shall have the right to select the Underwriters, placement agents or sales agents
(if any) for such Block Trade (which shall consist of one or more reputable nationally recognized investment banks), provided,
that such selection shall be subject to the consent of the Company, which consent shall not be unreasonably withheld, conditioned or
delayed.

 

2.4.5
A Holder in the aggregate may demand no more than two Block Trades pursuant to this Section 2.4 in any 12-month period. For the
avoidance of doubt, any Block Trade effected pursuant to this Section 2.4 shall not be counted as a demand for an Underwritten
Shelf Takedown pursuant to Section 2.14 hereof.

 

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Article
III

COMPANY PROCEDURES

 

3.1
General Procedures.
In connection with any Shelf and/or Shelf Takedown, the Company shall use its commercially reasonable efforts to effect such Registration
to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto
the Company shall, as expeditiously as possible:

 

3.1.1
prepare and file with the Commission, as soon as reasonably practicable, a Registration Statement with respect to such Registrable Securities
and use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable
Securities have ceased to be Registrable Securities;

 

3.1.2
prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements
to the Prospectus, as may be reasonably requested by any Holder that holds at least 5% percent of the Registrable Securities registered
on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions
applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration
Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended
plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

 

3.1.3
prior to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including
all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including
each preliminary Prospectus) and such other documents as the Underwriters and the Holders of Registrable Securities included in such
Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities
owned by such Holders;

 

3.1.4
prior to any public offering of Registrable Securities, use its commercially reasonable efforts to (i) register or qualify the Registrable
Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United
States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution)
may request (or provide evidence satisfactory to such Holders that the Registrable Securities are exempt from such registration or qualification)
and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with
or approved by such other governmental authorities or securities exchanges, including the applicable Nasdaq Stock Market, as may be necessary
by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to
enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable
Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business
in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service
of process or taxation in any such jurisdiction where it is not then otherwise so subject;

 

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3.1.5
cause all such Registrable Securities to be listed on each national securities exchange or automated quotation system on which similar
securities issued by the Company are then listed;

 

3.1.6
provide a transfer agent and registrar for all such Registrable Securities no later than the effective date of such Registration Statement;

 

3.1.7
advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance
of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any
proceeding for such purpose, and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain
its withdrawal if such stop order should be issued;

 

3.1.8
at least three days (or in the case of a Block Trade, at least one day) prior to the filing of any Registration Statement or Prospectus
or any amendment or supplement to such Registration Statement or Prospectus (or such shorter period of time as may be necessary in order
to comply with the Securities Act, the Exchange Act and the rules and regulations promulgated under the Securities Act or Exchange Act,
as applicable), furnish a copy thereof to each seller of such Registrable Securities or its counsel (excluding any exhibits thereto and
any filing made under the Exchange Act that is to be incorporated by reference therein);

 

3.1.9
notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities
Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

 

3.1.10
in the event of an Underwritten Offering, a Block Trade or other coordinated offering that is registered pursuant to a Registration Statement,
permit a representative of the Holders (such representative to be selected by a majority-in-interest of the participating Holders), the
Underwriters or other financial institutions facilitating such Underwritten Offering, Block Trade or other coordinated offering that
is registered pursuant to a Registration Statement, if any, and any attorney or accountant retained by such Holders or Underwriter to
participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or
accountant in connection with the Registration; provided, however, that such representatives or Underwriters enter into a confidentiality
agreement, in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information;

 

3.1.11
obtain a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Offering, a Block Trade or other coordinated offering that is registered pursuant to a Registration Statement, in customary form and
covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter or other similar
type of sales agent, placement agent or Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of
the participating Holders;

 

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3.1.12
in the event of an Underwritten Offering, a Block Trade or other coordinated offering that is registered pursuant to a Registration Statement,
on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance
letter, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the placement agent
or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which
such opinion is being given as the placement agent, sales agent, or Underwriter may reasonably request and as are customarily included
in such opinions and negative assurance letters;

 

3.1.13
in the event of any Underwritten Offering, Block Trade or other coordinated offering that is registered pursuant to a Registration Statement,
enter into and perform its obligations under an underwriting agreement, sales agreement or placement agreement, in usual and customary
form, with the managing Underwriter, sales agent or placement agent of such offering;

 

3.1.14
make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months
beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule thereto);

 

3.1.15
with respect to an Underwritten Offering pursuant to Section 2.1.4 hereof, use its commercially reasonable efforts to make
available senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested
by the Underwriter in such Underwritten Offering; and

 

3.1.16
otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders participating
in such Registration, in connection with such Registration.

 

Notwithstanding
the foregoing, the Company shall not be required to provide any documents or information to an Underwriter or other sales agent or placement
agent if such Underwriter or other sales agent or placement agent has not then been named with respect to the applicable Underwritten
Offering or other coordinated offering that is registered pursuant to a Registration Statement.

 

3.2
Registration Expenses.
The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall
bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ or agents’ commissions
and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,”
all reasonable fees and expenses of any legal counsel representing the Holders, in each case pro rata based on the number of Registrable
Securities that such Holders have sold in such Registration.

 

3.3
Requirements for Participation in Underwritten Offerings.
Notwithstanding anything in this Agreement to the contrary, if any Holder does not timely provide the Company with its requested Holder
Information (as defined below), the Company may exclude such Holder’s Registrable Securities from the applicable Registration Statement
or Prospectus if the Company determines, based on the advice of counsel, that such information is necessary to effect the registration
and such Holder continues thereafter to withhold such information. No person may participate in any Underwritten Offering or other coordinated
offering for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person (i) agrees
to sell such person’s securities on the basis provided in any arrangements approved by the Company and (ii) timely completes and
executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting or other agreements and other
customary documents as may be reasonably required under the terms of such arrangements. The exclusion of a Holder’s Registrable
Securities as a result of this Section 3.3
shall not affect the registration of the other Registrable Securities to be included in such
Registration. 

 

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3.4
Suspension of Sales; Adverse Disclosure; Restrictions on Registration
Rights. 

 

3.4.1
Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until he, she or it has received copies of a supplemented or amended
Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or
amendment as soon as practicable after the time of such notice), or until he, she or it is advised in writing by the Company that the
use of the Prospectus may be resumed.

 

3.4.2
Subject to Section 3.4.4, if the filing, initial effectiveness or continued use of a Registration Statement in respect of any
Registration at any time would (i) require the Company to make an Adverse Disclosure, (ii) require the inclusion in such Registration
Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control or (iii) in
the good faith judgment of the majority of the Board, be seriously detrimental to the Company and the majority of the Board concludes
as a result that it is essential to defer such filing, initial effectiveness or continued use at such time, the Company may, upon giving
prompt written notice of such action to the Holders (which notice shall not be required to specify the nature of the event giving rise
to such delay or suspension), delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest
period of time determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights
under this Section 3.4.2, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their
use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities until such Holder
receives written notice from the Company that such sales or offers of Registrable Securities may be resumed, and in each case maintain
the confidentiality of such notice and its contents.

 

3.4.3
Subject to Section 3.4.4, if (i) during the period starting with the date 60 days prior to the Company’s good faith estimate
of the date of the filing of, and ending on a date 120 days after the effective date of, a Company-initiated Registration, and provided
that the Company continues to actively employ, in good faith, all commercially reasonable efforts to maintain the effectiveness of the
applicable Shelf, or (ii) if, pursuant to Section 2.1.4 hereof, Holders have requested an Underwritten Shelf Takedown and
the Company and such Holders are unable to obtain the commitment of underwriters to firmly underwrite such offering, then, in each case,
the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section
2.1.4 hereof.

 

3.4.4
The right to delay or suspend any filing, initial effectiveness or continued use of a Registration Statement pursuant to Section 3.4.2
or a registered offering pursuant to Section 3.4.3 shall be exercised by the Company, in the aggregate, not more than two
(2) times or for more than sixty (60) consecutive calendar days, or for more than one hundred and twenty (120) total calendar days, in
each case during any 12-month period.

 

3.5
Reporting Obligations.
As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange
Act, covenants to use commercially reasonable efforts to file timely (or obtain extensions in respect thereof and file within the applicable
grace period) all reports required to be filed by the Company after the date hereof pursuant to Section 13(a) or 15(d) of the Exchange
Act. The Company further covenants that it shall take such further action as any Holder may reasonably request, to the extent required
from time to time to enable such Holder to sell Registrable Securities held by such Holder without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144.

 

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Article
IV

INDEMNIFICATION AND CONTRIBUTION

 

4.1
Indemnification.

 

4.1.1
The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and
each person or entity who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
and reasonable out-of-pocket expenses (including, without limitation, reasonable outside attorneys’ fees) caused by any untrue
or alleged untrue statement of material fact contained in or incorporated by reference in any Registration Statement, Prospectus or preliminary
Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated
therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information
or affidavit so furnished in writing to the Company by such Holder expressly for use therein. The Company shall indemnify the Underwriters,
their officers and directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to the indemnification of the Holder.

 

4.1.2
In connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish
(or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection
with any such Registration Statement or Prospectus (the “Holder Information”) and, to the extent permitted
by law, shall indemnify the Company, its directors, officers and agents and each person or entity who controls the Company (within the
meaning of the Securities Act) against all losses, claims, damages, liabilities and reasonable out-of-pocket expenses (including, without
limitation, reasonable outside attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained in
or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, but only to the extent that such untrue statement is contained in (or not contained in, in the case of an omission) any
information or affidavit so furnished in writing by such Holder expressly for use therein; provided, however, that the obligation
to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder
of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers,
directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in
the foregoing with respect to indemnification of the Company.

 

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4.1.3
Any person or entity entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s
or entity’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party)
and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). An indemnifying party
who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than
one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any
indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect
to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter
into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the indemnifying party
pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant
or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

4.1.4
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive
the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such
provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such
Holder’s indemnification is unavailable for any reason.

 

4.1.5
If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and out-of-pocket expenses referred to herein, then the indemnifying
party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result
of such losses, claims, damages, liabilities and out-of-pocket expenses in such proportion as is appropriate to reflect the relative
fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault
of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made
by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by in the case of an omission),
such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge,
access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under
this Section 4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to
such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed
to include, subject to the limitations set forth in Sections 4.1.1, 4.1.2 and 4.1.3 hereof, any legal or other fees,
charges or out-of-pocket expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 4.1.5 were determined by pro rata
allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in this Section
4.1.5. No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution pursuant to this Section 4.1.5 from any person or entity who was not guilty of such fraudulent misrepresentation.

 

    19

     

    

 

Article
V

LOCK-UP

 

5.1
Lock-up.
Subject to Section 5.2,
the Sponsor, the Existing Holders, BVF and the New Holders agree that they shall not Transfer any Lock-up Shares until the end of the
Founder Shares Lock-up Period, the Private Placement Lock-up Period, the BVF Lock-up Period or the New Holders Lock-up Period, as applicable.

 

5.2
Permitted Transferees. Notwithstanding the provisions set forth in Section 5.1, the Sponsor, the Existing Holders, the
New Holders or their respective Permitted Transferees may Transfer the Lock-up Shares during the Lock-up Periods: (a) to (i) the Company’s
officers or directors, (ii) any Affiliate of any of the Company’s officers or directors, (iii) any Affiliate of the Sponsor, (iv)
any members or equityholders of the Sponsor or any of their Affiliates or (v) any Existing Holder, any direct or indirect partners, members
or equityholders of the Existing Holders, any Affiliate of any of the Existing Holders or any related investment funds or vehicles controlled
or managed by such persons or entities or their respective Affiliates; (vi) any New Holder or any direct or indirect partners, members
or equityholders of the New Holders, any Affiliate of any of the New Holders or any related investment funds or vehicles controlled or
managed by such persons or entities or their respective Affiliates; (b) in the case of an individual, by gift to a member of the individual’s
Immediate Family or to a trust, family limited partnership or other estate planning vehicle, the beneficiary of which is a member of
the individual’s Immediate Family or an Affiliate of such individual, or to a charitable organization; (c) in the case of an individual,
by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified
domestic relations order; (e) by virtue of the laws of the Cayman Islands or the Sponsor’s partnership agreement upon dissolution
of the Sponsor; (f) in connection with any bona fide mortgage, encumbrance or pledge to a financial institution in connection
with any bona fide loan or debt transaction or enforcement thereunder, including foreclosure thereof; (g) to the
Company; or (h) in the event of the Company’s liquidation, merger, stock exchange or other similar transaction that results in
all of the Company’s stockholders having the right to exchange their shares of Class A ordinary shares for cash, securities or
other property subsequent to the Closing Date; provided, however, that, in the case of clauses (a) through (e), these permitted
transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this Article
V.

 

5.3
Termination of Existing Lock-up. With respect to the Sponsor and the Existing Holders, the lock-up provisions in this Article
V shall supersede the lock-up provisions contained in Section 7 of the Insider Letter, which provision in Section 7 of the Insider
Letter shall be of no further force or effect.

 

Article
VI

MISCELLANEOUS

 

6.1
Notices.
Any notice or communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to
the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or by courier
service providing evidence of delivery or (iii) transmission by hand delivery, electronic mail or facsimile. Each notice or communication
that is mailed, delivered or transmitted in the manner described above shall be deemed sufficiently given, served, sent and received,
in the case of mailed notices, on the third Business Day following the date on which it is mailed and, in the case of notices delivered
by courier service, hand delivery, electronic mail or facsimile, at such time as it is delivered to the addressee (with the delivery
receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication
under this Agreement must be addressed, if to the Company, to MoonLake Immunotherapeutics, [insert address], [Attention: _______] and,
if to any Holder, at such Holder’s address or contact information as set forth in the Company’s books and records. Any party
may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of
address shall become effective 30 days after delivery of such notice as provided in this Section
6.1.

 

    20

     

    

 

6.2
Assignment; No Third-Party Beneficiaries.

 

6.2.1
This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part.

 

6.2.2
This Agreement and the rights, duties and obligations of the Holders hereunder may not be assigned or delegated by the Holders in whole
or in part, provided, however, that subject to Section 6.2.5 hereof, a Holder may assign the rights and obligations of
such Holder hereunder relating to particular Registrable Securities in connection with the transfer of such Registrable Securities to
a Permitted Transferee of such Holder.

 

6.2.3
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors
and the permitted assigns of the Holders, which shall include Permitted Transferees.

 

6.2.4
This Agreement shall not confer any rights or benefits on any Persons that are not parties hereto, other than as expressly set forth
in this Agreement and Section 6.2 hereof.

 

6.2.5
No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the
Company unless and until the Company shall have received (a) written notice of such assignment as provided in Section 6.1 hereof
and (b) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment
made other than as provided in this Section 6.2 shall be null and void.

 

6.3
Counterparts.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original,
and all of which together shall constitute the same instrument, but only one of which need be produced.

 

6.4
Governing Law; Venue.
NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO,
THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED
TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW
PROVISIONS OF SUCH JURISDICTION. ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OR THE COURTS OF THE STATE OF NEW YORK, IN EACH CASE,
LOCATED IN THE CITY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION
OR PROCEEDING.

 

6.5
WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY, UNCONDITIONALLY AND VOLUNTARILY WAIVES ANY
RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT.

 

    21

     

    

 

6.6
Amendments and Modifications.
Upon the written consent of (i) the Company and (ii) the Holders of a majority-in-interest of the Registrable Securities at the
time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of
such provisions, covenants or conditions may be amended or modified; provided, however, that any amendment hereto or waiver hereof
that adversely affects one Holder, solely in his, her or its capacity as a holder of the shares of capital stock of the Company, in a
manner that is materially different from the other Holders (in such capacity), shall require the consent of the Holder so affected. No
course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the
Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or
the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude
the exercise of any other rights or remedies hereunder or thereunder by such party.

 

6.7
Other Registration Rights.
Other than the subscribers in the PIPE Investment who have registration rights with respect to the Class A ordinary shares purchased
in the PIPE Investment pursuant to their respective subscription agreements, the Company represents and warrants that no person or entity,
other than a Holder of Registrable Securities, has any right to require the Company to register any securities of the Company for sale
or to include such securities of the Company in any Registration Statement filed by the Company for the sale of securities for its own
account or for the account of any other person or entity. Further, the Company represents and warrants that this Agreement supersedes
any other registration rights agreement or agreement with similar terms and conditions, and in the event of a conflict between any such
agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

 

6.8
Term. This
Agreement shall terminate on the earlier of (a) the fifteenth anniversary of the date of this Agreement or (b) with respect to any Holder
on the date that such Holder no longer holds any Registrable Securities. The provisions of Article
IV hereof shall survive any termination.

 

6.9
Holder Information. Each Holder agrees, if requested in writing, to represent to the Company the total number of Registrable Securities
held by such Holder in order for the Company to make determinations hereunder.

 

6.10
  Additional Holders; Joinder. In addition to persons or entities who may become Holders pursuant to Section 6.2 hereof,
subject to the prior written consent of the Sponsor, each Existing Holder, and each New Holder (in each case, so long as such Holder
and its Affiliates hold, in the aggregate, at least 5% of the outstanding Class A ordinary shares of the Company (calculated, in the
case of each New Holder as if all of its Class C ordinary shares and Retained Company Shares are exchanged for Class A ordinary shares)),
the Company may make any person or entity who acquires Class A ordinary shares or rights to acquire Class A ordinary shares after the
date hereof a party to this Agreement (each such person or entity, an “Additional Holder”) by obtaining an
executed joinder to this Agreement from such Additional Holder in the form of Exhibit A attached hereto (a “Joinder”).
Such Joinder shall specify the rights and obligations of the applicable Additional Holder under this Agreement. Upon the execution and
delivery and subject to the terms of a Joinder by such Additional Holder, the Class A ordinary shares of the Company then owned, or underlying
any rights then owned, by such Additional Holder (the “Additional Holder Shares”) shall be Registrable Securities
to the extent provided herein and therein, and such Additional Holder shall be a Holder under this Agreement with respect to such Additional
Holder Shares.

 

6.11
  Severability. It is the desire and intent of the parties that the provisions of this Agreement be enforced to the fullest
extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any
particular provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable
for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this
Agreement or affecting the validity or enforceability of this Agreement or affecting the validity or enforceability of such provision
in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited
or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the remaining provisions
of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

6.12
  Entire Agreement; Restatement. This Agreement constitutes the full and entire agreement and understanding between the parties
with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter. Upon
the Closing, the Original RRA shall no longer be of any force or effect.

 

[Signature
Pages Follow]

 

    22

     

    

 

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

 

	 	COMPANY:
	 	 	 	 
	 	MOONLAKE IMMUNOTHERAPEUTICS 
	 	a Cayman Islands exempted company
	 	 	 	 
	 	By:	 
	 		Name: 	Bihua Chen                       
	 		Title:	Chief Executive Officer
	 	 	 	 
	 	SPONSOR:
	 	 
	 	HELIX HOLDINGS LLC 
	 	a Cayman Islands exempted limited liability
    company
	 	 	 	 
	 	By:	 
	 	 	Name:	Bihua Chen
	 	 	Title: 	Managing Member
	 	 	 	 
	 	EXISTING HOLDERS:
	 	 
	 	WILL LEWIS, in their individual
    capacity
	 	 	 	 
	 	By:	 
	 	 	Name:	Will Lewis
	 	 	 	 
	 	NANCY CHANG, in their individual
    capacity
	 	 	 	 
	 	By:	 
	 	 	Name:	Nancy Chang
	 	 	 	 
	 	JOHN SCHMID, in their individual
    capacity
	 	 	 	 
	 	By:	 
	 	 	Name:	John Schmid

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

     

     

    

 

	 	NEW HOLDERS:
	 	 	 	 
	 	Arnout Michiel
    Ploos van Amstel, in their individual capacity
	 	 	 	 
	 	By: 	 
	 	 	 	 
	 	DR. JORGE SANTOS DA SILVA, in their
    individual capacity
	 	 	 	 
	 	By: 	 
	 	 	 	 
	 	JERUCON BERATUNGSGESELLSCHAFT MBH,
    a limited liability company
	 	 	 	 
	 	By: 	 
	 	 	Name: 	Prof. Dr. Kristian Reich                            
	 	 	Title:	Managing Director
	 	 	 	 
	 	Biotechnology
    Value Fund, L.P., a Delaware limited partnership
	 	 	 	 
	 	By: 	 
	 	 	Name:	Mark Lampert
	 	 	Title:	Chief Executive Officer BVF I GP LLC, itself General
    Partner of Biotechnology Value Fund, L.P.
	 	 	 	 
	 	Biotechnology
    Value Fund II, L.P., a Delaware limited partnership
	 	 	 	 
	 	By: 	 
	 	 	Name:	Mark Lampert
	 	 	Title:	Chief Executive Officer BVF II GP LLC, itself General
    Partner of Biotechnology Value Fund II, L.P.

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

     

     

    

 

	 	BIOTECHNOLOGY VALUE TRADING FUND OS,
    L.P., a Cayman Islands exempted limited partnership
	 	 	 	 
	 	By: 	 
	 	 	Name:	Mark Lampert
	 	 	Title:	President BVF Inc., General Partner of BVF Partners
    L.P., itself sole member of BVF Partners OS Ltd., itself GP of Biotechnology Value Trading Fund OS, L.P.
	 	 	 	 
	 	MSI BVF SPV LLC, a Delaware limited
    liability company
	 	 	 	 
	 	By: 	 
	 	 	Name:	Mark Lampert
	 	 	Title:	President BVF Inc., General Partner of BVF Partners
    L.P., itself attorney-in-fact of MSI BVF SPV LLC
	 	 	 	 
	 	MERCK HEALTHCARE KGAA, DARMSTADT,
    GERMANY, an affiliate of Merck KGaA, Darmstadt, Germany
	 	 	 	 
	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	 	Florian Schönharting,
    in their individual capacity
	 	 	 	 
	 	By: 	 
	 	 	 	 
	 	SIMON STURGE, in their individual
    capacity
	 	 	 	 
	 	By: 	 

 

	 	Matthias
    Bodenstedt, in their individual capacity
	 	 	 
	 	By: 	                  
	 	 	 
	 	Atif Khan,
    in their individual capacity
	 	 	 
	 	By:	 
	 	 	 
	 	Nuala Brennan,
    in their individual capacity
	 	 	 
	 	By: 	 
	 	 	 
	 	Oliver Daltrop,
    in their individual capacity
	 	 	 
	 	By: 	 

 

[Signature
Page to Amended and Restated Registration Rights Agreement]

 

     

     

    

 

Exhibit
A

 

AMENDED
AND RESTATED REGISTRATION

RIGHTS
AGREEMENT JOINDER

 

The
undersigned is executing and delivering this joinder (this “Joinder”) pursuant to the Amended and Restated
Registration Rights Agreement, dated as of ______, 202[1][2] (as the same may hereafter be amended, the “Registration Rights
Agreement”), among MoonLake Immunotherapeutics (formerly known as Helix Acquisition Corp.), a Cayman Islands exempted company
(the “Company”), and the other persons or entities named as parties therein. Capitalized terms used but not
otherwise defined herein shall have the meanings provided in the Registration Rights Agreement.

 

By
executing and delivering this Joinder to the Company, and upon acceptance hereof by the Company upon the execution of a counterpart hereof,
the undersigned hereby agrees to become a party to, to be bound by and to comply with the Registration Rights Agreement as a Holder of
Registrable Securities in the same manner as if the undersigned were an original signatory to the Registration Rights Agreement, and
the undersigned’s Class A ordinary shares shall be included as Registrable Securities under the Registration Rights Agreement to
the extent provided therein.

 

Accordingly,
the undersigned has executed and delivered this Joinder as of the __________ day of __________, 20__.

 

	 	 
	 	Signature of
    Stockholder
	 	 
	 	 
	 	Print Name of
    Stockholder
	 	Its:
	 	Address:	        
	 	 
	 	 

 

Agreed
and Accepted as of

____________,
20__

 

	MoonLake Immunotherapeutics 	 
	 	 	 
	By:	                          	 
	Name: 	 	 
	Title:Exhibit
4.1

 

CONSOLIDATED,
AMENDED AND RESTATED PROMISSORY NOTE

 

	$99,145,838.22	Executed
    in the City of Houston, State of Texas
	 	Dated
    as of September 30, 2021

 

The
undersigned, RCI HOLDINGS, INC., a Texas corporation (“Maker” or “Borrower”), promises to pay to the order of
CENTENNIAL BANK (hereinafter, together with any holder hereof, called, “Payee” or “Lender” or “Holder”),
at its office at 6300 NE First Avenue, Suite 300, Fort Lauderdale, Florida 33334 or at such other place as Payee may from time to time
designate, the principal sum of Ninety-Nine Million One Hundred Forty-Five Thousand Eight Hundred Thirty-Eight and 22/100 Dollars ($99,145,838.22)
together with interest thereon from the date hereof at the interest rate set forth herein, which sums are to be repaid as follows:

 

This
Note shall initially bear interest at a fixed interest rate of 5.25% per annum through September 30, 2026 (the “Adjustment Date”),
at which time the interest rate shall adjust to a fixed rate equal to the weekly average yield on U.S. Treasury Securities adjusted to
a constant maturity for a term of five (5) years, as made available by the Federal Reserve Board (Federal Reserve Board Release H.15)
as most recently published prior to the Adjustment Date (rounded upwards to the nearest 1/8 of 1%) plus 350 basis points, provided
in no event shall the interest rate be less than 5.25% per annum. The interest rate as adjusted following the Adjustment Date shall be
in effect for the remaining five (5) years of the term of this Note. Monthly payments of principal and interest in the amount of $668,051.18
(based on a 20-year amortization period) shall initially be due and payable under this Note, with the first payment due and payable on
the 30th day of October, 2021, with like payments of principal and interest due and payable on the 30th day of
each month thereafter through the Adjustment Date. Following the Adjustment Date, the monthly payments of principal and interest shall
adjust based upon the new interest rate and the remaining amortization period, with such payments of principal and interest due and payable
on the 30th day of each month thereafter commencing on October 30, 2026 and continuing through and until September 30, 2031
(the “Maturity Date”) at which time the entire principal balance of this Note together with all accrued and unpaid interest
thereon shall be due and payable in full.

 

Interest
charged under this Note shall be computed on the basis of a 360-day year for the actual number of days elapsed. All payments hereunder
shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment
of public and private debts. Unless otherwise agreed or required by applicable law, payments will be applied first to any escrow or reserve
account payments as required under any mortgage, deed of trust, or other security instrument or security agreement securing this Note;
then to any late charges; then to any accrued unpaid interest; and then to principal.

 

    	 

    	 

    

 

In
order to compensate Payee for loss and expense occasioned by handling delinquent payments, which include, but are not limited to, the
cost of processing and collecting delinquencies, Maker shall pay to Payee, in addition to any interest or other sums payable under this
Note, a service charge equal to five percent (5%) of the amount of any payment not received by Payee within ten (10) days of the due
date thereof.

 

This
Note may be prepaid in whole or in part at any time without premium or penalty; provided, however, in the event any prepayment is made
during the initial eight (8) years of the term of this Note, Borrower shall pay the following prepayment fees: (i) in the event of a
prepayment during years 1 and 2 of the term, an amount equal to five percent (5%) of the amount prepaid shall be due and payable; (ii)
in the event of a prepayment during years 3 and 4 of the term, an amount equal to four percent (4%) of the amount prepaid shall be due
and payable; (iii) in the event of a prepayment during years 5 and 6 of the term, an amount equal to three percent (3%) of the amount
prepaid shall be due and payable; and (iv) in the event of a prepayment during years 7 and 8 of the term, an amount equal to two percent
(2%) of the amount prepaid shall be due and payable. Any partial prepayment shall be applied in inverse order of maturity and will not
reduce or delay the payment of the next regularly scheduled payment. Notwithstanding the foregoing, no prepayment fees shall be payable
as to principal paydowns made in connection with partial releases of a Property.

 

From
and after the date upon which any payment of principal or interest hereunder becomes due and payable (whether by acceleration or otherwise)
or any other monetary default if the same is not paid within ten (10) days of the due date, or upon the occurrence of any non-monetary
default under this Note or any non-monetary default under any of the Loan Documents which is not cured within thirty (30) days after
written notice of said non-monetary default unless such default does not involve the payment of money and cannot be cured within such
thirty (30) day period with diligent efforts and (i) Maker has been and continues to diligently and in good faith pursue a cure thereof;
and (ii) notifies Payee in writing of the cure it is pursuing and the projected completion date of such cure, then the time allowed Maker
to cure the default shall be extended for such period as may be reasonably necessary for the prompt, diligent and good faith cure thereof,
but such period shall not exceed sixty (60) days after the date of Payee’s written notice of default to Maker, interest shall be
payable on all sums outstanding hereunder at the lesser of: (i) the maximum rate permitted by applicable law if any, or (ii) twenty-five
percent (25%) per annum (the “Default Rate”), and shall be due and payable ON DEMAND. Any judgment obtained by Payee against
Maker as to any amounts due under this Note shall also bear interest at the Default Rate.

 

Borrower
shall establish and maintain a satisfactory depository relationship with Lender throughout the term of the loan evidenced by this Note
(the “Loan”) including without limitation, all accounts related to the Tenant Leases and the Property (as such terms are
defined in the Loan Agreement). Borrower recognizes that the establishment and maintenance of such depository relationship was an important
factor and a material inducement to Lender in establishing the terms and conditions, including the interest rate, of the Loan. In the
event that Borrower fails to maintain said depository relationship at any time during the term of the Loan, the interest rate charged
under this Note will increase by one percent (1.0%) per annum at that time.

 

    	2

    	 

    

 

This
Note is secured by certain security documents encumbering the property described therein, including, without limitation, the following:

 

	 	A.	Certain
    Mortgages, Security Agreement, Fixture Filing and Assignment of Rents, Leases and Deposits (the “Mortgages”).
	 	B.	Certain
    Deeds of Trust, Assignment of Rents, Security Agreement and Fixture Filing (the “Deeds of Trust”).
	 	C.	UCC-1
    Financing Statements.
	 	D.	Assignment
    of Rents, Leases and Deposits.
	 	E.	Loan
    Agreement (capitalized terms not otherwise defined herein shall have the meanings set forth in the Loan Agreement).
	 	F.	Collateral
    Assignment of Rights and Agreements Affecting Real Estate.
	 	G.	Associated
    affidavits, disclosures and miscellaneous loan documentation.

 

This
Note, all documents listed above, and any other documents executed in connection with this Note, are collectively referred to as the
“Loan Documents”.

 

In
the event of the continuation of any default in the payment of any interest or principal or other amounts due under this Note for a period
of ten (10) days after such payment becomes due, or upon the occurrence of any non-monetary event of default under the terms and provisions
of this Note or upon the occurrence of any monetary or non-monetary default under any of the Loan Documents, or any other documents delivered
to Payee in connection with this Note, or any other obligation of Maker to Payee, then Payee upon expiration of any applicable grace
or cure period may declare the entire unpaid principal amount outstanding hereunder, together with interest accrued thereon and any other
lawful charges accrued hereunder, immediately due and payable.

 

Maker
and any endorsers, sureties, guarantors, and all others who are, or at some future date may become, liable for the payments required
hereunder grant a continuing first lien security interest in and to, and authorize Payee, in its sole discretion at any time after an
event of default hereunder and after expiration of any applicable grace or cure period, in such order as Payee may elect, to apply to
the payment of obligations due and owing hereunder, or to the payment of any and all indebtedness, liabilities and obligations of such
parties to Payee, whether now existing or hereafter created, any and all monies, general or specific deposits, or collateral of whatsoever
nature of any of the above noted parties, now or hereafter in the possession of Payee. All property described in this paragraph above,
along with all property secured by the Loan Documents, including all proceeds thereof and rights in connection therewith, together with
additions and substitutions, are hereinafter collectively referred to as the “Collateral”.

 

Additions
to, releases, reductions, or exchanges of or substitutions for the Collateral, payments on account of this Note, or increases of the
same, or other loans made partially or wholly upon the Collateral, may from time to time be made without affecting the provisions of
this Note or the liabilities of any party hereto. If any of the Collateral is personal property, Payee shall exercise reasonable care
in the custody and preservation of the Collateral in its possession, and shall be deemed to have exercised reasonable care if it takes
such action for that purpose as Maker shall reasonably request in writing, but no omission to comply with any request of Maker shall
of itself be deemed a failure to exercise reasonable care. Payee shall not be bound to take any steps necessary to preserve any rights
in the Collateral against prior parties, and Maker shall take all necessary steps for such purposes. Payee or its nominee need not collect
interest on or principal of any Collateral or give any notice with respect thereto.

 

    	3

    	 

    

 

Upon
the happening of any of the following events, each of which shall constitute a default hereunder, all sums due hereunder shall thereupon
or thereafter, at Payee’s option, without notice or demand, become immediately due and payable: (a) failure of any Obligor (which
term shall mean and include each Maker, endorser, surety, guarantor, general partner of Maker or other party liable for payment of or
pledging collateral or security under this Note) to pay any sum due hereunder within ten (10) days of the date due or due by any Obligor
to Payee under any other promissory note or under any security instrument or written obligation of any kind now existing or hereafter
created; (b) occurrence of non-monetary default under any of the Loan Documents or any other loan agreement or security instrument now
or hereafter in effect which, by its terms, covers this Note or the indebtedness evidenced hereby and such default shall continue for
thirty (30) days after the date of written notice thereof from Payee to Maker, unless such default does not involve the payment of money
and cannot be cured within such thirty (30) day period with diligent efforts and (i) Maker has been and continues to diligently and in
good faith pursue a cure thereof; and (ii) Maker notifies Payee in writing of the cure it is pursuing and the projected completion date
of such cure, then the time allowed Maker to cure the default shall be extended for such period as may be reasonably necessary for the
prompt, diligent and good faith cure thereof, but such period shall not exceed sixty (60) days after the date of Payee’s written
notice of default to Maker; (c) filing of any petition under the Bankruptcy Code or any similar federal or state statute by any Obligor
or the filing of any petition under the Bankruptcy Code or any similar federal or state statute against any Obligor or for a custodian,
receiver or trustee of any of Obligor’s property, which is not dismissed within sixty (60) days, or if Obligor is adjudged insolvent
by any state or federal court of competent jurisdiction; (d) making of a general assignment by any Obligor for the benefit of creditors,
or any proceeding for dissolution or liquidation of any Obligor; (e) entry of a judgment against any Obligor (other than Maker) in an
amount in excess of $1,000,000 and which judgment is not discharged (by payment, bonding or otherwise) within sixty (60) days of its
date of entry; or entry of a judgment against Maker, which judgment is not discharged (by payment, bonding or otherwise) within sixty
(60) days of its entry; (f) material falsity, at the time made, in any certificate, statement, representation, warranty or audit furnished
to Payee by or on behalf of any Obligor pursuant to or in connection with this Note, the Loan Documents or any loan agreement or security
agreements now or hereafter in effect which, by its terms, covers this Note or the indebtedness evidenced hereby or otherwise including
any omission to disclose any substantial contingent or liquidated liabilities or any material adverse change in any facts disclosed by
any certificate, statement, representation, warranty or audit furnished to Payee; (g) issuance of any writ of attachment or writ of garnishment
or filing of any lien against any substantial portion of the property of any Obligor, which writ of attachment, writ of garnishment or
lien is not discharged ( by payment, bonding or otherwise) within sixty (60) days of its date of entry; (h) taking of possession of the
Collateral or any material part thereof at the instance of any governmental authority or the taking of possession of any substantial
part of the property of any Obligor at the instance of any governmental authority; (i) dissolution, termination, merger, consolidation,
or reorganization of any Obligor; (j) assignment or sale by any Obligor of any equity in any Collateral securing payment of this Note
without the prior written consent of Payee; (k) cancellation of any guaranty with respect hereto without the prior written consent of
Payee; or (l) occurrence of any default under any guaranty executed in connection with this Note or under any obligation of Maker or
of any Obligor to Payee, which default is not cured within any applicable grace period.

 

    	4

    	 

    

 

Payee
shall have all of the rights and remedies of a creditor, mortgagee and secured party under all applicable law. Without limiting the generality
of the foregoing, upon the occurrence of any default hereunder which is not cured within any applicable grace period, Payee may, at its
option, and without notice or demand (i) declare the entire unpaid principal and accrued interest accelerated and due and payable at
once, together with any and all other liabilities of Maker or any of such liabilities selected by Payee; and (ii) set-off against this
Note all monies owed by Payee in any capacity to Maker, whether or not due, and also set-off against all other liabilities of Maker to
Payee all monies owed by Payee in any capacity to Maker, and Payee shall be deemed to have exercised such right of set-off, and to have
made a charge against any such money immediately upon the occurrence of such default, although made or entered on the books subsequent
thereto. To the extent that any of the Collateral is personal property and Payee elects to proceed with respect to it in accordance with
the Uniform Commercial Code then, unless that collateral is perishable or threatens to decline speedily in value, or is of a type customarily
sold on a recognized market, Payee will give Maker reasonable notice of the time and place of any public or private sale thereof. The
requirement of reasonable notice shall be met if such notice is, at the option of Payee, hand delivered, sent via expedited courier,
or mailed, postage pre-paid to Maker, at the address given to Payee by Maker, or at any other address shown on the records of Payee at
least ten (10) days before the time of sale. Upon disposition of any Collateral after the occurrence of any default hereunder, Maker
shall be and shall remain liable for any deficiency; and Payee shall account to Maker for any surplus, but Payee shall have the right
to apply all or part of such surplus (or to hold the same as reserve) against any and all other liabilities of Maker to Payee.

 

Payee
may, at any time, if there is a default in the Note which is not cured within any applicable grace period: (i) pledge or transfer this
Note and its interest in the Collateral, and the pledgee or the transferee shall, for all purposes, stand in the place of Payee and have
all the rights of Payee set forth herein; (ii) transfer the whole or any part of the Collateral into the name of itself or its nominee;
(iii) vote the Collateral; (iv) notify Maker to make payment to Payee of any amounts due or to become due thereon; (v) demand, sue for,
collect, or make any compromise or settlement it deems desirable with reference to the Collateral; (vi) take possession or control of
any proceeds of the Collateral; and (vii) exercise all other rights necessary or required, in Payee’s discretion, in order to protect
its interests hereunder.

 

    	5

    	 

    

 

In
no event shall Payee be entitled to unearned or unaccrued interest or other charges or rebates, except as may be authorized by law, and
should any interest or other charges paid by Maker or other parties liable for the payment of this Note result in the computation or
earning of interest in excess of the maximum rate of interest that is legally permitted under applicable law, then any and all such excess
shall be and the same is hereby waived by Payee, and any and all such excess shall be automatically credited against and reduce the balance
due under this indebtedness, and the portion of said excess which exceeds the balance due under this indebtedness, shall be paid by Payee
to Maker and parties liable for the payment of this Note. Payee may, in determining the maximum rate permitted under applicable law in
effect from time to time, take advantage of (i) the maximum rate of interest permitted under Florida law or federal law, whichever is
higher, including any laws regarding parity among lenders; and (ii) any other law, rule or regulation in effect from time to time available
to Payee, which exempts Payee from any limit upon the rate of interest it may charge, or grants to Payee the right to charge a higher
rate of interest than that permitted by Chapter 687, Florida Statutes. In determining whether or not the interest paid or payable under
any specific contingency exceeds the highest lawful rate, Payee shall, to the maximum extent permitted under applicable law (a) characterize
any non-principal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and the effects thereof,
and (c) “spread” the total amount of interest throughout the maximum term of the obligation so that the interest rate is
uniform throughout the entire term of the obligation.

 

The
provisions of this Note and the Loan Documents (other than the Mortgages, Deeds of Trusts and Assignment of Rents, Leases and Deposits,
which shall be governed by the laws of the applicable States as provided therein) shall be construed according to the internal laws (and
not the laws of conflicts) of the State of Florida; except as set forth above, if Federal law would allow the payment of interest hereunder
at a higher maximum rate than would be applicable under Florida law, in which case such Federal law shall apply to the determination
of the highest applicable lawful rate of interest hereunder.

 

No
delay or omission on the part of Payee in exercising any right hereunder shall operate as a waiver of such right or of any other rights
under this Note. Presentment, demand, protest, notice of dishonor and all other notices are hereby waived by Maker. Maker promises and
agrees to pay all costs of collection and attorneys’ fees, which shall include reasonable attorneys’ fees in connection with
any suit, out of court, in trial, on appeal, in bankruptcy proceedings or otherwise, incurred or paid by Payee in enforcing this Note
or preserving any right or interest of Payee set forth herein. Any notice to Maker shall be sufficiently served for all purposes if placed
in the mail, postage prepaid, addressed to, or left upon the premises at the address of Maker as provided to Payee.

 

This
Note is not assumable without Payee’s prior written consent, which consent may be granted by Payee or denied by Payee, in Payee’s
sole and absolute discretion.

 

Maker
agrees that at Payee’s sole option, Broward County, Florida or Miami-Dade County, Florida shall be the proper venue for any and
all legal proceedings arising out of this Note, or any of the Loan Documents (other than the Mortgages, Deeds of Trusts and Assignment
of Rents, Leases and Deposits).

 

    	6

    	 

    

 

This
Note and the other Loan Documents constitute the sole agreement of the parties with respect to the transaction contemplated hereby and
supersede all oral negotiations and prior writings with respect thereto. No waivers, amendments or modifications of this Note and other
Loan Documents shall be valid unless in writing and signed by an authorized officer of the Lender. No waiver by Lender of any default
shall operate as a waiver of any other default or the same default on a future occasion. Neither the failure nor any delay on the part
of the Lender in exercising any right, power, or remedy under this Note and other Loan Documents shall operate as a waiver thereof, nor
shall a single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or
remedy.

 

THIS
CONSOLIDATED, AMENDED AND RESTATED PROMISSORY NOTE CONSTITUTES (A) AN AMENDMENT, RESTATEMENT AND CONSOLIDATION OF (i) THAT CERTAIN CONSOLIDATED,
AMENDED AND RESTATED PROMISSORY NOTE DATED DECEMBER 14, 2017 IN THE ORIGINAL PRINCIPAL AMOUNT OF $62,539,366.08, EXECUTED BY MAKER IN
FAVOR OF PAYEE; (ii) THAT CERTAIN PROMISSORY NOTE DATED DECEMBER 14, 2017, IN THE ORIGINAL PRINCIPAL AMOUNT OF $8,147,572.57, EXECUTED
BY MAKER IN FAVOR OF PAYEE; (iii) THAT CERTAIN AMENDED AND RESTATED PROMISSORY NOTE DATED DECEMBER 14, 2017, IN THE PRINCIPAL AMOUNT
OF $10,558,311.35 EXECUTED BY MAKER IN FAVOR OF PAYEE AND (iv) THAT CERTAIN PROMISSORY NOTE DATED AS OF SEPTEMBER 7, 2018 IN THE ORIGINAL
PRINCIPAL AMOUNT OF $1,550,000.00 EXECUTED BY MAKER AND TEZ REAL ESTATE LP IN FAVOR OF PAYEE (COLLECTIVELY, THE “EXISTING NOTES”),
AND (B) AN ADDITIONAL PRINCIPAL ADVANCE IN THE AMOUNT OF $36,314,129.93 (THE “ADDITIONAL ADVANCE”). THE TOTAL OUTSTANDING
PRINCIPAL INDEBTEDNESS ON THE DATE HEREOF EVIDENCED BY THE EXISTING NOTES IS $62,831,708.29. IN THE EVENT OF A CONFLICT BETWEEN
THE TERMS AND PROVISIONS OF THE EXISTING NOTES AND THE TERMS AND PROVISIONS OF THIS NOTE, THE TERMS AND PROVISIONS OF THIS NOTE SHALL
GOVERN, CONTROL AND PREVAIL SUCH THAT THE TERMS AND PROVISIONS OF THIS NOTE SHALL GOVERN THE REPAYMENT, TERMS AND CONDITIONS AND ALL
OTHER TERMS AND CONDITIONS OF THE INDEBTEDNESS EVIDENCED BY THE EXISTING NOTES, AS CONSOLIDATED, AMENDED, RESTATED, INCREASED AND REPLACED
BY THIS NOTE. THE EXISTING NOTES ARE ATTACHED HERETO.

 

WAIVER
OF TRIAL BY JURY. MAKER AND HOLDER HEREBY MUTUALLY, KNOWINGLY, WILLINGLY, INTENTIONALLY AND VOLUNTARILY WAIVE THEIR RIGHT TO TRIAL
BY JURY AND NO PARTY, NOR ANY ASSIGNEE, SUCCESSOR, HEIR, OR LEGAL REPRESENTATIVE OF THE PARTIES (ALL OF WHOM ARE HEREINAFTER REFERRED
TO AS THE “PARTIES”) SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM, OR ANY OTHER LITIGATION PROCEEDING
BASED UPON OR ARISING OUT OF THIS NOTE OR THE LOAN DOCUMENTS, OR ANY INSTRUMENT EVIDENCING, SECURING, OR RELATING TO THE INDEBTEDNESS
AND OTHER OBLIGATIONS EVIDENCED HEREBY OR ANY RELATED AGREEMENT OR INSTRUMENT, ANY OTHER COLLATERAL FOR THE INDEBTEDNESS EVIDENCED HEREBY
OR ANY COURSE OF ACTION, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS RELATING TO THE LOAN OR TO THIS NOTE. THE
PARTIES ALSO WAIVE ANY RIGHT TO CONSOLIDATE ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL
HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY NEGOTIATED BY THE PARTIES. THE WAIVER CONTAINED HEREIN IS IRREVOCABLE,
CONSTITUTES A KNOWING AND VOLUNTARY WAIVER, AND SHALL BE SUBJECT TO NO EXCEPTIONS. HOLDER HAS IN NO WAY AGREED WITH OR REPRESENTED TO
MAKER OR ANY OTHER PARTY THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

 

    	7

    	 

    

 

THE
PROPER FLORIDA DOCUMENTARY STAMP TAX HAS PREVIOUSLY BEEN PAID WITH THE RECORDATION OF THE MORTGAGE ENCUMBERING PROPERTY LOCATED IN THE
STATE OF FLORIDA SECURING THIS PROMISSORY NOTE.

 

	 	RCI
    HOLDINGS, INC., a Texas corporation
	 	 	 
	 	By:	/s/
    Eric Langan
	 	 	Eric
    Langan, President

 

STATE
OF TEXAS

COUNTY
OF HARRIS

 

The
foregoing instrument was acknowledged before me this 1st day of October, 2021 by Eric Langan, as President of,
and on behalf of, RCI HOLDINGS, INC., a Texas corporation, who (__) is personally known to me or (X) produced a driver’s
license as identification.

 

	 	/s/
    Angela Jones Phillips
	 	Notary
    Public - State and County Aforesaid
	 	Print
    Name: Angela Jones Phillips
	 	My
    Commission Expires: 4-17-2024
	 	 
	 	(Signed
    as a Notary and not as a Maker or 
	 	Obligor
    of this Note.)

 

    	8

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