Document:

Exhibit 10.2

 

PLACEMENT AGENCY AGREEMENT

January 3, 2020

 

Raymond James & Associates, Inc.

277 Park Avenue, Suite 410

New York, New York 10172

 

Ladies and Gentlemen:

 

Leap Therapeutics, Inc., a Delaware corporation
(the “Company”), proposes, subject to the terms and conditions of this Placement Agency Agreement (the “Agreement”)
and the Purchase Agreement (defined below), to issue and sell to certain institutional investors (each, a “Purchaser”
and collectively, the “Purchasers”) (i) 1,421,801 shares (the “Series A Preferred Shares”)
of the Company’s Series A Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock (the “Series A
Preferred”), which are mandatorily convertible into (a) pre-funded warrants to purchase an aggregate of 14,218,010 shares
of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at an exercise price of
$0.001 per share (the “Pre-Funded Warrants”) and (b) warrants to purchase an aggregate of either (x) additional
pre-funded warrants, substantially in the form of and on the same terms (including exercise price) as the Pre-Funded Warrants,
to purchase 14,218,010 shares of the Common Stock or (y) 14,218,010 shares of the Common Stock, in the case of either (x) or (y)
at an exercise price of $2.11 per share (the “Series A Coverage Warrants”), (ii) 1,137,442 shares (the “Series
B Preferred Shares” together with the Series A Preferred Shares, the “Preferred Shares”) of the Company’s
Series B Mandatorily Convertible Cumulative Non-Voting Perpetual Preferred Stock (the “Series B Preferred” and
together with the Series A Preferred, the “Preferred Stock”), which are mandatorily convertible into (a) an
aggregate of 11,374,420 shares of Common Stock and (b) warrants to purchase an aggregate of 11,374,420 shares of the Common Stock
at an exercise price of $2.11 per share (the “Series B Coverage Warrants” and together with the Series A Coverage
Warrants, the Pre-Funded Warrants and the additional pre-funded warrants referred to in clause (x) above, the “Warrants”),
and (iii) one share (the “Special Voting Share”) of a series of preferred stock of the Company designated as
Special Voting Stock (the “Special Voting Stock”). The shares of Common Stock issuable upon exercise of the
Warrants are referred to herein as the “Warrant Shares” and the shares of Common Stock issuable upon the mandatory
conversion of the Series B Preferred are referred to herein as the “Shares” and together with the Warrant Shares,
the “Underlying Shares”. The Preferred Shares, the Special Voting Share, the Warrants and the Underlying Shares
are referred to herein, collectively, as the “Securities.” The Company desires to engage Raymond James &
Associates, Inc. as the exclusive placement agent in connection with such issuance and sale of the Preferred Shares.

 

The Company hereby confirms its agreement
with you as follows:

 

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Section 1.                 
Agreement to Act as Placement Agent.

 

(a)             On
the basis of the representations, warranties and agreements of the Company herein contained, and subject to all the terms
and conditions of this Agreement, Raymond James & Associates, Inc. shall be the Company’s exclusive placement agent
(in such capacity, the “Placement Agent”), acting on a reasonable best efforts basis, in connection with
the issuance and sale by the Company of the Preferred Shares to the Purchasers in a private placement exempt from
registration under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section
4(a)(2) thereof, with the terms of the offering to be subject to market conditions and negotiations among the Company, the
Placement Agent and the prospective Purchasers (such offering shall be referred to herein as the
 “Offering”). As compensation for services rendered, and provided that any of the Preferred Shares are sold
to Purchasers in the Offering, on the Closing Date (as defined in Section 1(c) hereof) of the Offering, the Company
shall pay to the Placement Agent an amount in the aggregate equal to 3.4074% of the gross proceeds received by the Company
from the sale of the Preferred Shares (the “Placement Fee”). Except for the Placement Fee in connection
with the sale of the Preferred Shares, the Placement Agent will not receive any fees in connection with the issuance,
conversion or exercise of any of the Securities. The sale of the Preferred Shares shall be made pursuant to a securities
purchase agreement in the form included as Exhibit A-2 hereto (the “Purchase Agreement”) on the
terms described on Exhibit B hereto. The Company shall have the sole right to accept offers to purchase the
Preferred Shares and may reject any such offer in whole or in part.

 

(b)            
This Agreement shall not give rise to any commitment by the Placement Agent to purchase any of the Preferred Shares, and
the Placement Agent shall have no authority to bind the Company to accept offers to purchase the Preferred Shares. The Placement
Agent shall act on a reasonable best efforts basis and does not guarantee that it will be able to raise new capital in the Offering.
The Placement Agent may retain other brokers or dealers to act as sub-agents on its behalf in connection with the Offering, the
fees of which shall be paid out of the Placement Fee. Prior to the earlier of (i) the date on which this Agreement is terminated
and (ii) the Closing Date, the Company shall not, without the prior written consent of the Placement Agent, solicit or accept offers
to purchase Preferred Shares otherwise than through the Placement Agent in accordance herewith.

 

(c)             
Payment of the purchase price for, and delivery of, the Preferred Shares shall be made at a closing (the “Closing”)
at the offices of Morgan, Lewis & Bockius LLP, counsel for the Company, located at One Federal Street, Boston, Massachusetts
02110, promptly following the satisfaction of all conditions for Closing set forth in the Purchase Agreement (the “Closing
Conditions”) or on such later date or at such different location as the parties shall agree in writing (such date of
payment and delivery being herein called the “Closing Date”). All such actions taken at the Closing shall be
deemed to have occurred simultaneously. No Preferred Shares which the Company has agreed to sell pursuant to this Agreement and
the Purchase Agreement shall be deemed to have been purchased and paid for, or sold by the Company, until such Preferred Shares
shall have been delivered to the Purchaser thereof against payment therefor by such Purchaser. If the Company shall default in
its obligations to deliver the Preferred Shares to a Purchaser whose offer it has accepted, the Company shall indemnify and hold
the Placement Agent harmless against any loss, claim or damage incurred by the Placement Agent arising from or as a result of such
default by the Company. “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday
or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City.

 

(d)           
On the Closing Date, (i) the Company shall deliver, or cause to be delivered, the Preferred Shares and the Special Voting
Share to the applicable Purchasers or their designees, and the Purchasers shall deliver, or cause to be delivered, the purchase
price for their respective Preferred Shares (and, if applicable, for the Special Voting Share) to the Company pursuant to the terms
of the Purchase Agreement and (ii) the Company will wire the amounts owed to the Placement Agent as provided in this Agreement.

 

(e)            
The Preferred Shares shall be registered in such names and in such denominations as set forth in the Purchase Agreement.
The Special Voting Share shall be registered in the name of the applicable Purchaser as set forth in the Purchase Agreement.

 

(f)             
The Preferred Shares shall bear an appropriate restrictive legend referring to the fact that the Preferred Shares were sold
in reliance upon the exemption from registration under the Securities Act provided by Section 4(a)(2) thereof.

 

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Section 2.                 
Representations, Warranties and Agreements of the Company.

 

Except as disclosed in the reports, schedules,
forms, statements and other documents filed by the Company under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, and any
amendment filed in relation thereto, being collectively referred to herein as the “SEC Reports”), which disclosures
qualify these representations and warranties in their entirety, the Company hereby represents, warrants and covenants to the Placement
Agent as of the date hereof, and as of the Closing Date, as follows:

 

(a)            
Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing
under the laws of its jurisdiction of incorporation and the Company is qualified to do business as a foreign corporation in each
jurisdiction in which qualification is required, except where failure to so qualify would not have a Material Adverse Effect (as
defined herein). Each of the Company’s subsidiaries (each, a “Subsidiary” and collectively, the “Subsidiaries”)
is a direct or indirect wholly owned subsidiary of the Company. Each Subsidiary is duly organized, validly existing and in good
standing under the laws of its jurisdiction of incorporation and is qualified to do business as a foreign corporation in each jurisdiction
in which qualification is required, except where failure to so qualify would not have a Material Adverse Effect.

 

(b)            
Authorized Capital Stock. As of September 30, 2019, the Company had duly authorized and validly issued outstanding
capitalization as set forth in the SEC Reports. The issued and outstanding shares of Common Stock have been duly authorized and
validly issued, are fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, were
not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities, and conform
in all material respects to the description contained in the SEC Reports. The Subsidiaries do not have outstanding any options
to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible
into, or any contracts or commitments to issue or sell, shares of its capital stock or any such options, rights, convertible securities
or obligations. With respect to each of the Subsidiaries (i) all the issued and outstanding shares of such Subsidiary’s capital
stock have been duly authorized and validly issued, are fully paid and nonassessable, have been issued in compliance with all federal
and state securities laws, were not issued in violation of or subject to any preemptive rights or other rights to subscribe for
or purchase securities, and (ii) there are no outstanding options to purchase, or any preemptive rights or other rights to subscribe
for or to purchase, any securities or obligations convertible into, or any contracts or commitments to issue or sell, shares of
such Subsidiary’s capital stock or any such options, rights, convertible securities or obligations.

 

(c)             Issuance,
Sale and Delivery of the Securities. The Preferred Shares and the Special Voting Share being purchased pursuant to the
Purchase Agreement have been duly authorized and, when issued, delivered and paid for in the manner set forth in the Purchase
Agreement, will be validly issued, fully paid and nonassessable. The Securities issuable upon conversion of the Preferred
Shares or upon exercise of any of the Warrants have been duly authorized and, when issued, delivered and, if applicable, paid
for in accordance with the terms of the Preferred Shares or the Warrants, will be validly issued, fully paid and
nonassessable. The Preferred Shares, the Special Voting Share and the Underlying Shares have been duly and validly reserved
from the Company’s authorized capital stock. No stockholder of the Company (other than the Purchasers) has any right to
require the Company to register the sale of any capital stock owned by such stockholder under the Registration Statement (as
defined in the Purchase Agreement). No further approval or authority of the stockholders or the Board of Directors of the
Company will be required for the issuance and sale of the Preferred Shares and the Special Voting Share to be sold by the
Company as contemplated in the Purchase Agreement.

 

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(d)            
Due Execution, Delivery and Performance of the Agreement. The Company has full legal right, corporate power and authority
to enter into this Agreement and the Purchase Agreement and perform the transactions contemplated hereby and thereby, except that
the issuance of certain of the Securities upon conversion of the Preferred Shares and upon exercise of the Warrants shall be subject
to, and require, Stockholder Approval (as defined in the Purchase Agreement), which, among other things, is required to comply
with the requirements of the Nasdaq Stock Exchange. This Agreement and the Purchase Agreement have been duly authorized, executed
and delivered by the Company. This Agreement and the Purchase Agreement constitute legal, valid and binding agreements of the Company,
enforceable against the Company in accordance with their terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other laws of general application relating to or affecting the enforcement of creditors’
rights and the application of equitable principles relating to the availability of remedies, and except as rights to indemnity
or contribution, including but not limited to, indemnification provisions set forth in Section 6 hereof may be limited by
federal or state securities law or the public policy underlying such laws. The execution and performance of this Agreement and
the Purchase Agreement by the Company and the consummation of the transactions herein and therein contemplated will not violate
any provision of the certificate of incorporation or bylaws of the Company or the organizational documents of any Subsidiary and
will not result in the creation of any lien, charge, security interest or encumbrance upon any assets of the Company or any Subsidiary
pursuant to the terms or provisions of, or will not conflict with, result in the breach or violation of, or constitute, either
by itself or upon notice or the passage of time or both, a default under any agreement, mortgage, deed of trust, lease, franchise,
license, indenture, permit or other instrument to which the Company or any Subsidiary is a party or by which the Company or any
Subsidiary or their respective properties may be bound or affected and in each case that would have a Material Adverse Effect or
any statute or any authorization, judgment, decree, order, rule or regulation of any court or any regulatory body, administrative
agency or other governmental agency or body applicable to the Company or any Subsidiary or any of their respective properties,
except that the issuance of certain of the Securities upon conversion of the Preferred Shares and upon exercise of the Warrants
shall be subject to, and require, Stockholder Approval, which, among other things, is required to comply with the requirements
of the Nasdaq Stock Exchange. No consent, approval, authorization or other order of any court, regulatory body, administrative
agency or other governmental agency or body is required for the execution and delivery of this Agreement, the Purchase Agreement
or the consummation of the transactions contemplated herein and therein, except for compliance with the Blue Sky laws and federal
securities laws applicable to the offering of the Preferred Shares. For the purposes of this Agreement, the term “Material
Adverse Effect” shall mean a material adverse effect on the condition (financial or otherwise), properties, business,
prospects or results of operations of the Company and its Subsidiaries, taken as a whole, except any of the following, either alone
or in combination, shall not be deemed a Material Adverse Effect: (i) effects caused by changes or circumstances affecting
general economic or political conditions or conditions in securities markets or that are generally applicable to the industry in
which the Company or its Subsidiaries operate, provided that such effects do not adversely affect the Company and its Subsidiaries,
taken as a whole, in a disproportionate manner, or (ii) effects caused by any event, occurrence or condition resulting from or
relating to the taking of any action in accordance with this Agreement and the Purchase Agreement.

 

(e)           
Accountants. EisnerAmper LLP, who have certified certain financial statements of the Company, whose report is included
in the SEC Reports, are registered independent public accountants as required by the Securities Act and the rules and regulations
promulgated thereunder and by the rules of the Public Accounting Oversight Board.

 

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(f)             
No Defaults or Consents. Neither the execution, delivery and performance of this Agreement or the Purchase Agreement
by the Company nor the consummation of any of the transactions contemplated hereby or thereby (including, without limitation, the
issuance and sale by the Company of the Preferred Shares) will give rise to a right to terminate or accelerate the due date of
any payment due under, or conflict with or result in the breach of any term or provision of, or constitute a default (or an event
which with notice or lapse of time or both would constitute a default) under, except such defaults that individually or in the
aggregate would not cause a Material Adverse Effect, or require any consent or waiver under, or result in the execution or imposition
of any lien, charge or encumbrance upon any properties or assets of the Company or its Subsidiaries pursuant to the terms of, any
indenture, mortgage, deed of trust or other agreement or instrument to which the Company or any of its Subsidiaries is a party
or by which either the Company or its Subsidiaries or any of its or their properties or businesses is bound, or any franchise,
license, permit, judgment, decree, order, statute, rule or regulation applicable to the Company or any of its Subsidiaries or violate
any provision of the charter or by-laws of the Company or any of its Subsidiaries, except for such consents or waivers which have
already been obtained and are in full force and effect and except that the issuance of certain of the Securities upon conversion
of the Preferred Shares and upon exercise of the Warrants shall be subject to, and require, Stockholder Approval, which, among
other things, is required to comply with the requirements of the Nasdaq Stock Exchange.

 

(g)            
Contracts. Each contract that is material to the business of the Company and its Subsidiaries has been duly and validly
authorized, executed and delivered by the Company or such Subsidiary, as applicable, and constitute the legal, valid and binding
agreements of the Company or such Subsidiary, as applicable, enforceable by and against it in accordance with their respective
terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws
relating to enforcement of creditors’ rights generally, and general equitable principles relating to the availability of
remedies, and except as rights to indemnity or contribution may be limited by federal or state securities laws and the public policy
underlying such laws.

 

(h)            
No Actions. There are no legal or governmental actions, suits or proceedings pending or, to the Company’s knowledge,
threatened against the Company or any Subsidiary before or by any court, regulatory body or administrative agency or any other
governmental agency or body, domestic or foreign, which actions, suits or proceedings, individually or in the aggregate, might
reasonably be expected to have a Material Adverse Effect; and no labor disturbance by the employees of the Company or its Subsidiaries
exists or, to the knowledge of the Company, is imminent, that might reasonably be expected to have a Material Adverse Effect. Neither
the Company nor any Subsidiary is a party to or subject to the provisions of any injunction, judgment, decree or order of any court,
regulatory body, administrative agency or other governmental agency or body that might have a Material Adverse Effect.

 

(i)             
Properties. The Company and each Subsidiary has good and marketable title to all the properties and assets described
as owned by it in the SEC Reports, free and clear of all liens, mortgages, pledges, or encumbrances of any kind except those that
are not material in amount and do not adversely affect the use made and proposed to be made of such property by the Company or
its Subsidiaries. The Company and each Subsidiary holds its leased properties under valid and binding leases. The Company and any
Subsidiary owns or leases all such properties as are necessary to its operations as now conducted.

 

(j)              No
Material Adverse Change. Since September 30, 2019 (i) the Company and its Subsidiaries have not incurred any material
liabilities or obligations, indirect or contingent, or entered into any material agreement or other transaction, in each case
that are not or is not in the ordinary course of business of the Company or its Subsidiaries; (ii) the Company and its
Subsidiaries have not sustained any material loss or interference with their businesses or properties from fire, flood,
windstorm, accident or other calamity not covered by insurance; (iii) the Company and its Subsidiaries have not paid or
declared any cash dividends or other cash distributions with respect to their capital stock and none of the Company or any
Subsidiary is in default in the payment of principal or interest on any outstanding debt obligations; (iv) there has not been
any change in the capital stock of the Company or its Subsidiaries other than the authorization and sale of the Preferred
Shares and the Special Voting Share pursuant to the Purchase Agreement, the authorization of the issuance of the other
Securities upon the conversion of the Preferred Shares and/or the exercise of the Warrants, and the authorization, grant or
issuance of shares or options pursuant to employee equity incentive plans or purchase plans approved by the Company’s
Board of Directors, or indebtedness material to the Company or its Subsidiaries (other than in the ordinary course of
business and any required scheduled payments); and (v) there has not occurred any event that has caused or could reasonably
be expected to cause a Material Adverse Effect.

 

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(k)             Regulatory
Authority. Except, in each case, where such event could not, individually or in the aggregate, reasonably be expect to
have a Material Adverse Effect, the Company and each of its Subsidiaries: (i) has not received any unresolved U.S. Food and
Drug Administration (“FDA”) or similar governmental agency or body (“Governmental
Authority”) written notice of inspectional observations, Form 483, written notice of adverse filing, warning
letter, untitled letter or other similar correspondence or notice from the FDA, or any other court or arbitrator or federal,
state, local or foreign governmental or regulatory authority, alleging or asserting material noncompliance with the Federal
Food, Drug and Cosmetic Act (21 U.S.C. § 301 et seq.), or received any written requests or requirements to make material
changes to its products by the FDA or any other Governmental Authority; (ii) is and has been in compliance with applicable
health care laws, including, the Federal Food, Drug and Cosmetic Act (21 U.S.C. § 301 et seq.), the federal
Anti-kickback Statute (42 U.S.C. § 1320a-7b(b)), the civil False Claims Act (31 U.S.C. §§ 3729 et seq.), the
criminal False Claims Law (42 U.S.C. § 1320a-7b(a)), the Civil Monetary Penalties Law (42 U.S.C. § 1320a-7a), the
Physician Payment Sunshine Act (42 U.S.C. § 1320a-7h), all criminal laws relating to health care fraud and abuse,
including but not limited to 18 U.S.C. Sections 286 and 287, and the health care fraud criminal provisions under the
Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. § 1320d et seq.) (“HIPAA”),
the exclusion laws (42 U.S.C. § 1320a-7), Medicare (Title XVIII of the Social Security Act), Medicaid (Title XIX of the
Social Security Act), HIPAA, as amended by the Health Information Technology for Economic and Clinical Health Act of 2009,
and the regulations promulgated pursuant to such laws, and comparable state laws, and all other foreign, federal, state and
local laws relating to the regulation of the Company and its Subsidiaries (collectively, “Health
Care Laws”); (iii) has not engaged in activities which are, as applicable, cause for false claims liability, civil
penalties, or mandatory or permissive exclusion from Medicare, Medicaid, or any other state health care program or federal
health care program; (iv) possesses all governmental permits and supplements or amendments thereto required by any such
Health Care Laws and/or to carry on its businesses as currently conducted as described in the SEC Reports
(“Authorizations”), and such Authorizations are valid and in full force and effect and neither the Company
nor any of its Subsidiaries is in violation of any term of any such Authorizations; (v) has not received written notice of
any ongoing claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any
Governmental Authority alleging that any product, operation or activity is in material violation of any Health Care Laws or
Authorizations and has no knowledge that any such Governmental Authority has threatened any such claim, litigation,
arbitration, action, suit, investigation or proceeding; (vi) has not received written notice that any Governmental Authority
has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge
that any such Governmental Authority has threatened such action; (vii) has filed, obtained, maintained or submitted all
reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments thereto as
required by any Health Care Laws or Authorizations and all such reports, documents, forms, notices, applications, records,
claims, submissions and supplements or amendments were complete, correct and not misleading on the date filed (or
were corrected or supplemented by a subsequent submission); (viii) is not a party to any corporate integrity agreement,
deferred prosecution agreement, monitoring agreement, consent decree, settlement order, or similar agreements, or has any
reporting obligations pursuant to any such agreement, plan or correction or other remedial measure entered into with any
Governmental Authority; (ix) has not, nor has any officer, director, employee, agent or, to the knowledge of the Company or
any Subsidiary, any distributor of the Company or any Subsidiary, made an untrue statement of a material fact or a fraudulent
statement to the FDA or any other Governmental Authority, failed to disclose a material fact required to be disclosed to the
FDA or any other Governmental Authority, or committed an act, made a statement, or failed to make a statement, in each such
case, related to the business of the Company or its Subsidiaries that, at the time such disclosure was made, would reasonably
be expected to provide a basis for the FDA to invoke its policy respecting “Fraud, Untrue Statements of Material Facts,
Bribery, and Illegal Gratuities,” set forth in 56 Fed. Reg. 46191 (September 10, 1991) or for the FDA or any other
Governmental Authority to invoke any similar policy; (x) has not, nor has any officer, director, employee, or, to the
knowledge of the Company or any Subsidiary, any agent or distributor of the Company or any Subsidiary, been debarred or
convicted of any crime or engaged in any conduct for which debarment is mandated by 21 U.S.C. § 335a(a) or any similar
law or authorized by 21 U.S.C. § 335a(b) or any similar law applicable in other jurisdictions in which the
Company’s products or Subsidiary’s product candidates are sold or intended by the Company to be sold; and (xi)
neither the Company, its Subsidiaries nor their officers, directors, employees, agents or contractors has been or is
currently debarred, suspended or excluded from participation in the Medicare and Medicaid programs or any other state or
federal health care program.

 

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(l)              Intellectual
Property. The Company and its Subsidiaries own, or have obtained valid and enforceable licenses for, or other rights to
use, the inventions, patent applications, patents, trademarks (both registered and unregistered), tradenames, service names,
copyrights, trade secrets and other proprietary information described in the SEC Reports as being owned or licensed by them
or which are necessary for the conduct of their respective businesses as currently conducted or as proposed to be
conducted (including the commercialization of products or services described in the SEC Reports as under development), except
where the failure to own, license or have such rights could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect (collectively, “Intellectual Property”); except as could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect, (i) there are no third parties who have or, to
the Company’s knowledge will be able to establish rights to any of Intellectual Property of the Company or its
Subsidiaries, except for, and to the extent of, the ownership rights of the owners of the Intellectual Property which the SEC
Reports disclose are licensed to the Company or any of its Subsidiaries; (ii) to the Company’s knowledge, there is no
infringement by third parties of any Intellectual Property; (iii) there is no pending or, to the Company’s knowledge,
threatened action, suit, proceeding or claim by others challenging the Company’s or its Subsidiaries’ rights, as
applicable, in or to any Intellectual Property, and the Company and its Subsidiaries are unaware of any facts that could form
a reasonable basis for any such action, suit, proceeding or claim; (iv) there is no pending or, to the Company’s
knowledge, threatened action, suit, proceeding or claim by others challenging the validity, enforceability or scope of any
Intellectual Property, and the Company is unaware of any facts that could form a reasonable basis for any such action, suit,
proceeding or claim; (v) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or
claim by others that the Company or any of its Subsidiaries infringes or otherwise violates (or would, upon the
commercialization of any product or service described in the SEC Reports as under development, infringe or violate) any
patent, trademark, tradename, service name, copyright, trade secret or other proprietary rights of others, and the Company is
unaware of any facts that could form a reasonable basis for any such action, suit, proceeding or claim; (vi) the Company and
its Subsidiaries have complied in all material respects with the terms of each agreement pursuant to which Intellectual
Property has been licensed to the Company or any of its Subsidiaries, and all such agreements are in full force and effect;
(vii) to the Company’s knowledge, there is no patent or patent application that contains claims that interfere with the
issued or pending claims of any of the Intellectual Property or that challenges the validity, enforceability or scope of any
of the Intellectual Property; and (viii) to the Company’s knowledge, there is no prior art that may render any patent
application within the Intellectual Property unpatentable that has not been disclosed to the U.S. Patent and Trademark
Office.

 

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(m)           
Compliance. None of the Company nor its Subsidiaries have been advised, nor do any of them have any reason to believe,
that the Company and its Subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations
of the jurisdictions in which it is conducting business, including, without limitation, all applicable local, state and federal
environmental laws and regulations, except where failure to be so in compliance would not have a Material Adverse Effect.

 

(n)            
Taxes. The Company and its Subsidiaries have filed on a timely basis (giving effect to extensions) all required federal,
state and foreign income and franchise tax returns and has paid or accrued all taxes shown as due thereon, and none of the Company
or any Subsidiary has knowledge of a tax deficiency that has been or might be asserted or threatened against it that could have
a Material Adverse Effect. All tax liabilities accrued through the date hereof have been adequately provided for on the books of
the Company and its Subsidiaries.

 

(o)            
Transfer Taxes. On the Closing Date, all stock transfer or other taxes (other than income taxes) that are required
to be paid in connection with the sale and transfer of the Preferred Shares to be sold to the Purchasers pursuant to the Purchase
Agreement will have been, fully paid or provided for by the Company and its Subsidiaries and all laws imposing such taxes will
have been fully complied with.

 

(p)            
Investment Company. Neither the Company nor any Subsidiary is, and, following the completion of the offering, will
not be, an “investment company” or an “affiliated person” of, or “promoter” or “principal
underwriter” for an investment company, within the meaning of the Investment Company Act of 1940, as amended (the “Investment
Company Act”), and the rules and regulations of the Securities and Exchange Commission (the “SEC”)
promulgated thereunder.

 

(q)               
Offering Materials. Neither the Company nor any Subsidiary has in the past nor will it hereafter take any action
independent of the Placement Agent to sell, offer for sale or solicit offers to buy any securities of the Company or its Subsidiaries
that could result in the initial sale of the Preferred Shares not being exempt from the registration requirements of Section 5
of the Securities Act.

 

(r)                
Insurance. The Company and its Subsidiaries maintain insurance underwritten by insurers of recognized financial responsibility,
of the types and in the amounts that such entities reasonably believe is adequate for their respective businesses, including, but
not limited to, insurance covering all real and personal property owned or leased by such entities against theft, damage, destruction,
acts of vandalism and all other risks customarily insured against, with such deductibles as are customary for companies in the
same or similar businesses, all of which insurance is in full force and effect.

 

(s)            
Non-Public Information. Neither the Company nor its Subsidiaries has disclosed to any Purchaser any information that
would constitute material non-public information as of the Closing Date other than the existence of the transaction contemplated
hereby.

 

(t)             
Use of Purchaser Name. Except as otherwise required by applicable law or regulation, neither the Company nor its
Subsidiaries shall use any Purchaser’s name or the name of any of its affiliates in any advertisement, announcement, press
release or other similar public communication unless it has received the prior written consent of such Purchaser for the specific
use contemplated.

 

    -8-

     

    

 

(u)            
Related Party Transactions. No transaction has occurred between or among the Company, on the one hand, and its affiliates,
officers or directors on the other hand, or between any Subsidiary, on the one hand, and its affiliates, officers or directors
on the other hand, that is required to have been described under applicable securities laws in the SEC Reports, that is not so
described in such filings.

 

(v)            
Off-Balance Sheet Arrangements. There is no transaction, arrangement or other relationship between the Company or
any Subsidiary and an unconsolidated or other off-balance sheet entity that is required to have been described under applicable
securities laws in the SEC Reports that is not so disclosed or that otherwise would be reasonably likely to have a Material Adverse
Effect. There are no such transactions, arrangements or other relationships with the Company or any Subsidiary that may create
contingencies or liabilities that have not been otherwise disclosed by the Company in the SEC Reports.

 

(w)           
Governmental Permits, Etc. The Company and each Subsidiary has all franchises, licenses, certificates and other authorizations
from such federal, state or local government or governmental agency, department or body that are currently necessary for the operation
of the business of the Company and its Subsidiaries as currently conducted, except where the failure to possess currently such
franchises, licenses, certificates and other authorizations is not reasonably expected to have a Material Adverse Effect. Neither
the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any such permit
that, if the subject of an unfavorable decision, ruling or finding, could reasonably be expected to have a Material Adverse Effect.

 

(x)             
Financial Statements. The financial statements of the Company, and the related notes and schedules thereto, included
in the SEC Reports fairly present in all material respects the financial position, results of operations, stockholders’ equity
and cash flows of the Company at the dates and for the periods specified therein. Such financial statements and the related notes
and schedules thereto have been prepared in accordance with generally accepted accounting principles consistently applied throughout
the periods involved (except as otherwise noted therein) and all adjustments necessary for a fair presentation in all material
respects of results for such periods have been made; provided, however, that the unaudited financial statements are
subject to normal year-end audit adjustments (which are not expected to be material) and do not contain all footnotes required
under generally accepted accounting principles.

 

(y)             
Listing Compliance. The Company complies with all requirements of the Nasdaq Stock Exchange and shall use its reasonable
best efforts to, subject in all events to the Stockholder Approval, cause the Underlying Shares to be approved for listing on the
Nasdaq Stock Exchange.

 

(z)             
Internal Accounting Controls. The Company and each Subsidiary maintains a system of internal accounting controls
sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or
specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only
in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared
with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company and each
Subsidiary has disclosure controls and procedures (as defined in Rules 13a-14 and 15d-14 under the Exchange Act) that are designed
to ensure that material information relating to such entity is made known to such entity’s principal executive officer and
principal financial officer or persons performing similar functions. The Company and each Subsidiary is otherwise in compliance
in all material respects with all applicable provisions of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations
promulgated thereunder.

 

    -9-

     

    

 

(aa)          
Foreign Corrupt Practices. Neither the Company, nor any Subsidiary, nor, to the Company’s knowledge, any director,
officer, agent, employee or other persons acting on behalf of the Company or any Subsidiary has, in the course of its actions for,
or on behalf of, the Company (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful
expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government
official or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices
Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment
to any foreign or domestic government official or employee.

 

(bb)          
OFAC. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer, agent,
employee, affiliate or person acting on behalf of the Company or any Subsidiary is currently subject to any U.S. sanctions administered
by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”), and the Company will not knowingly,
directly or indirectly, use the proceeds of the sale of the Preferred Shares, or lend, contribute or otherwise make available such
proceeds to any Subsidiary, joint venture partner or other person or entity, towards any sales or operations in any country sanctioned
by OFAC or for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.

 

(cc)          
Money Laundering Laws. The operations of the Company and each Subsidiary are and have been conducted at all times
in material compliance with the money laundering statutes of applicable jurisdictions, the rules and regulations thereunder and
any related or similar rules, regulations or guidelines, issued, administered or enforced by any applicable governmental agency
(collectively, the “Money Laundering Laws”) and to the Company’s and its Subsidiary’s knowledge,
no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the
Company and/or any Subsidiary with respect to the Money Laundering Laws is pending or threatened.

 

(dd)          
Employee Relations. Neither the Company nor any Subsidiary is a party to any collective bargaining agreement or employs
any member of a union. The Company and each Subsidiary believes that their relations with their employees are good. No executive
officer of the Company (as defined in Rule 501(f) promulgated under the Securities Act) has notified the Company, as applicable,
that such officer intends to leave the Company or any Subsidiary, as applicable, or otherwise terminate such officer’s employment
with the Company or any Subsidiary, as applicable. To the knowledge of the Company, no executive officer of the Company or any
Subsidiaries is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement, non-competition agreement, or any other agreement or any restrictive covenant, and the continued
employment of each such executive officer does not subject the Company or any Subsidiary to any liability with respect to any of
the foregoing matters.

 

(ee)            ERISA.
The Company and each Subsidiary is in compliance in all material respects with all presently applicable provisions of the
Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations
thereunder (herein called “ERISA”); no “reportable event” (as defined in ERISA) has occurred
with respect to any “pension plan” (as defined in ERISA) for which the Company or its Subsidiaries would have any
liability; neither the Company nor its Subsidiaries have incurred and do not expect to incur liability under (i) Title IV of
ERISA with respect to termination of, or withdrawal from, any “pension plan”; or (ii) Sections 412 or 4971 of the
Internal Revenue Code of 1986, as amended, including the regulations and published interpretations thereunder (the
 “Code”); and each “Pension Plan” for which the Company or its Subsidiaries would have
liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material respects and
nothing has occurred, whether by action or by failure to act, which would cause the loss of such qualification.

 

    -10-

     

    

 

(ff)            
Environmental Matters. There has been no storage, disposal, generation, manufacture, transportation, handling or
treatment of toxic wastes, hazardous wastes or hazardous substances by the Company or any Subsidiary (or, to the knowledge of the
Company, any of their predecessors in interest) at, upon or from any of the property now or previously owned or leased by the Company
or any Subsidiary in violation in any material respect of any applicable law, ordinance, rule, regulation, order, judgment, decree
or permit or that would require material remedial action under any applicable law, ordinance, rule, regulation, order, judgment,
decree or permit; there has been no material spill, discharge, leak, emission, injection, escape, dumping or release of any kind
into such property or into the environment surrounding such property of any toxic wastes, medical wastes, solid wastes, hazardous
wastes or hazardous substances due to or caused by the Company or any Subsidiary or with respect to which the Company or any Subsidiary
have knowledge; the terms “hazardous wastes,” “toxic wastes,” “hazardous substances” and “medical
wastes” shall have the meanings specified in any applicable local, state, federal and foreign laws or regulations with respect
to environmental protection.

 

(gg)          
Integration; Other Issuances of Securities. Neither the Company nor its Subsidiaries or any affiliates, nor any persons
acting on its or their behalf, has issued any shares of Common Stock or shares of any series of preferred stock or other securities
or instruments convertible into, exchangeable for or otherwise entitling the holder thereof to acquire shares of Common Stock which
would be integrated with the sale of the Preferred Shares to the Purchasers pursuant to the Purchase Agreement (i) for purposes
of the Securities Act and would thereby result in the Preferred Shares being sold to the Purchasers pursuant to the Purchase Agreement
not to be exempt from the registration requirements of the Securities Act or (ii) for purposes of any applicable stockholder approval
provisions, including, without limitation, under the rules and regulations of any exchange or automated quotation system on which
any of the securities of the Company are listed or designated, nor will the Company or its Subsidiaries or affiliates take any
action or steps that would require registration of any of the Preferred Shares under the Securities Act or cause the offering of
the Preferred Shares to be integrated with other offerings. Assuming the accuracy of the representations and warranties of Purchasers,
the offer and sale of the Preferred Shares by the Company to the Purchasers pursuant to the Purchase Agreement will be exempt from
the registration requirements of the Securities Act.

 

Section 3.                 
Covenants.

 

The Company covenants and agrees with the
Placement Agent as follows:

 

(a)             
Use of Proceeds. The Company shall use the net proceeds from the sale of the Preferred Shares to continue to advance
its clinical programs and for working capital and general corporate purposes.

 

(b)            
Public Communications. Prior to the Closing Date, the Company will not issue any press release or other communication
directly or indirectly or hold any press conference with respect to the Company, its condition, financial or otherwise, or the
earnings, business, operations or prospects of any of them, or the offering of the Securities, without the prior written consent
of the Placement Agent (such consent not to be unreasonably withheld, delayed or conditioned) unless in the reasonable judgment
of the Company and its counsel, and after notification to the Placement Agent, such press release or communication is required
by law, in which case the Company shall use its reasonable best efforts to allow the Placement Agent reasonable time to comment
on such release or other communication in advance of such issuance.

 

    -11-

     

    

 

(c)            
Stabilization. The Company will not take, directly or indirectly, any action designed, or that might reasonably
be expected to cause or result in, or that will constitute, stabilization or manipulation of the price of any security of the Company
to facilitate the sale or resale of any of the Preferred Shares.

 

(d)            
Investment Company Act. Neither the Company nor any Subsidiary shall invest or otherwise use the proceeds received
by the Company from its sale of the Preferred Shares in such a manner as would require the Company to register as an investment
company under the Investment Company Act.

 

Section 4.                 
Costs and Expenses.

 

The Company, whether or not the transactions
contemplated hereunder are consummated or this Agreement is terminated, will pay or reimburse if paid by the Placement Agent all
costs and expenses incident to the performance of the Company’s obligations under this Agreement and in connection with the
transactions contemplated hereby, including but not limited to costs and expenses of or relating to (i) the issue, sale and
delivery of the Securities including any stock or transfer taxes and stamp or similar duties payable upon the sale, issuance or
delivery of the Securities and any printing, delivery, shipping of the certificates representing the Securities, (ii) the fees
and expenses of any transfer agent or registrar for the Securities, (iii) fees, disbursements and other charges of counsel to the
Company, (iv) listing fees for the listing or quotation of the Underlying Shares on the Nasdaq Stock Exchange, and (v) the
costs and expenses of the Company in connection with the marketing of the Offering and the sale of the Preferred Shares to prospective
investors including, but not limited to, those related to any presentations or meetings undertaken in connection therewith; provided
that the amounts reimbursed to the Placement Agent by the Company pursuant to this Section 4 and Section 7, if applicable,
shall not exceed $50,000 in the aggregate.

 

It is understood that except as provided
in this Section 4, Section 6 and Section 7 hereof, the Placement Agent shall pay all of its own expenses.

 

Section 5.                 
Conditions of Placement Agent’s Obligations.

 

The obligations of the Placement Agent hereunder
are subject to the following conditions:

 

(a)               
No Action Preventing Issuance. No action shall have been taken and no statute, rule, regulation or order shall have
been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or
sale of any of the Securities, and no injunction, restraining order or order of any other nature by any federal or state court
of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of any of the
Securities.

 

(b)              
No Material Adverse Change.

 

(i)               
Prior to the Closing, there shall not have occurred any change, or any development involving a prospective change, in the
condition, financial or otherwise, or in the earnings, business or operations of the Company and its Subsidiaries from that set
forth in the SEC Reports that, in the Placement Agent’s judgment, is material and adverse and that makes it, in the Placement
Agent’s judgment, impracticable to market the Preferred Shares.

 

    -12-

     

    

 

(ii)               There
shall not have occurred any of the following: (A) a suspension or material limitation in trading in securities generally
on the New York Stock Exchange, the Nasdaq Stock Market, the Nasdaq Global Select Market, the Nasdaq Global Market, the
Nasdaq Capital Market, the NYSE American or the over-the-counter market or the establishing on such exchanges or
markets by the SEC or by such exchanges or markets of minimum or maximum prices that are not in force and effect on the date
hereof; (B) a suspension or material limitation in trading in the Company’s securities on the Nasdaq Stock
Exchange or any other exchange or market or the establishing on any such market or exchange by the SEC or by such market of
minimum or maximum prices that are not in force and effect on the date hereof; (C) a general moratorium on commercial
banking activities declared by either federal or any state authorities; (D) the outbreak or escalation of hostilities
involving the United States or the declaration by the United States of a national emergency or war, which in the Placement
Agent’s judgment makes it impracticable or inadvisable to proceed with the Offering or the delivery of the Preferred
Shares in the manner contemplated in the Purchase Agreement; or (E) any calamity or crisis, change in national,
international or world affairs, act of God, change in the international or domestic markets, or change in the existing
financial, political or economic conditions in the United States or elsewhere, that in the Placement Agent’s judgment
makes it impracticable or inadvisable to proceed with the Offering or the delivery of the Preferred Shares in the manner
contemplated in the Purchase Agreement.

 

(c)                  
Representations and Warranties. Each of the representations and warranties of the Company contained herein shall
be true and correct when made and on and as of the date hereof and the Closing Date, as if made on such date (except that those
representations and warranties that address matters only as of a particular date shall remain true and correct as of such date),
and all covenants and agreements herein contained to be performed on the part of the Company and all conditions herein contained
to be fulfilled or complied with by the Company at or prior to the Closing Date shall have been duly performed, fulfilled or complied
with in all material respects.

 

(d)              
Opinion of Counsel to the Company. The Placement Agent shall have received from Morgan, Lewis & Bockius LLP,
counsel to the Company, such counsel’s written opinion in form and substance as is reasonably satisfactory to the Placement
Agent.

 

(e)              
Officers’ Certificate. The Placement Agent shall have received on the Closing Date a certificate of the Company,
addressed to the Placement Agent and dated the Closing Date, signed by the Chief Executive Officer or the President and the principal
financial or accounting officer of the Company to the effect that the signers of such certificate have carefully examined the SEC
Reports, as well as any marketing materials used in connection with the offering of the Preferred Shares and this Agreement, and
that:

 

(i)               
each of the representations and warranties of the Company in this Agreement were true and correct when originally made and
are true and correct as of the date hereof and the Closing Date (except that those representations and warranties that address
matters only as of a particular date shall remain true and correct as of such date); and the Company has complied with all agreements
and satisfied all the conditions on its part required under this Agreement to be performed or satisfied at or prior to the Closing
Date; and

 

(ii)              
since the date of the most recent financial statements included in the SEC Reports, there has been no material adverse effect
on the condition (financial or otherwise), prospects, earnings, business or properties of the Company and its Subsidiaries, taken
as a whole, whether or not arising from transactions in the ordinary course of business.

 

(f)               
Additional Documents. Prior to the Closing Date, the Company shall have furnished to the Placement Agent such further
information, certificates and documents as the Placement Agent may reasonably request.

 

    -13-

     

    

 

The documents required to be delivered by
this Section 5 shall be delivered at the office of Morgan, Lewis & Bockius LLP, counsel to the Company, at One Federal
Street, Boston, Massachusetts 02110, on the Closing Date.

 

All letters, evidence and certificates mentioned
above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and
substance reasonably satisfactory to counsel for the Placement Agent.

 

If any condition specified in this Section
5 is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Placement Agent by notice
to the Company at any time prior to the Closing Date, which termination shall be without liability on the part of any party to
any other party, except that Section 4, Section 6 and Section 7 hereof shall at all times be effective and
shall survive such termination.

 

Section 6.                 
Indemnification and Contribution.

 

(a)            
Indemnification of the Placement Agent. The Company agrees to indemnify and hold harmless the Placement Agent, its
affiliates, directors, officers and employees, and agents who have or who are alleged to have participated in the distribution
of the Preferred Shares as Placement Agent and each person who controls the Placement Agent within the meaning of either the Securities
Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them
may become subject under the Securities Act, the Exchange Act or other Federal or state statutory law or regulation, at common
law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of the Company),
insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based on (i) the breach
of any representation, warranty, covenant or agreement made by the Company herein or in the Purchase Agreement or (ii) any untrue
statement or alleged untrue statement of a material fact or a material omission by or on behalf of the Company for the purpose
of offering and selling the Preferred Shares pursuant to the Purchase Agreement; provided that this indemnity shall not
apply (x) to the extent that such loss, claim, liability, expense or damage resulted from the bad faith, willful misconduct or
gross negligence of the Placement Agent or (y) to any matter for which the Placement Agent agrees to indemnify the Company hereunder.
This indemnity agreement will be in addition to any liability which the Company may otherwise have.

 

(b)            
Indemnification of the Company. The Placement Agent agrees to indemnify and hold harmless the Company, each of its
directors, each of its senior executive officers and each person who controls the Company within the meaning of either the Securities
Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company to the Placement Agent, but only with respect
to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with any information relating to the Placement Agent furnished
to the Company expressly for use in facilitating the offer and sale of the Preferred Shares.

 

    -14-

     

    

 

(c)             Notice
and Procedures. Promptly after receipt by an indemnified party under this Section 6 of notice of the commencement
of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under
this Section 6, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the
indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did
not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights
and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be
entitled to appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent
the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not
thereafter be responsible for the fees and expenses of any separate counsel retained by the indemnified party or parties
except as set forth below); provided, however, that such counsel shall be satisfactory to the indemnified
party. Notwithstanding the indemnifying party’s election to appoint counsel to represent the indemnified party in an
action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying
party shall bear the reasonable fees, costs and expenses of such separate counsel if (w) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (x) the actual
or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other
indemnified parties which are different from or additional to those available to the indemnifying party, (y) the indemnifying
party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of the institution of such action or (z) the indemnifying party shall authorize the indemnified
party to employ separate counsel at the expense of the indemnifying party; provided, however, that
an indemnifying party shall not be liable for the fees and expenses of more than one such separate counsel (in addition to
local counsel) in connection with any proceeding or related proceeding in the same jurisdiction. An indemnifying party shall
not be liable for any settlement of any proceeding effected without its consent (which consent shall not be unreasonably
withheld). Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying
party to reimburse the indemnified party for fees and expenses of counsel as contemplated by Section 6(a) or (b)
hereof, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its
written consent if (A) such settlement is entered into more than 60 days after receipt by such indemnifying party of the
aforesaid request, (B) such indemnifying party shall have received notice of the terms of such settlement at least 30 days
before such settlement is entered into and (C) such indemnifying party shall not have reimbursed the indemnified party in
accordance with such request or disputed in good faith the indemnified party’s entitlement to such reimbursement prior
to the date of such settlement. An indemnifying party will not, without the prior written consent (which consent shall not be
unreasonably withheld) of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect
to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be
sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out
of such claim, action, suit or proceeding and does not include an admission of fault.

 

    -15-

     

    

 

(d)              Contribution.
In the event that the indemnity provided in paragraph (a) or (b) of this Section 6 is unavailable to or insufficient
to hold harmless an indemnified party for any reason, the Company and the Placement Agent severally agree to contribute to
the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection
with investigating or defending the same) (collectively “Losses”) to which the Company and the
Placement Agent may be subject in such proportion as is appropriate to reflect the relative benefits received by the Company
on the one hand and by the Placement Agent on the other from the offering of the Preferred Shares. If the allocation provided
by the immediately preceding sentence is unavailable for any reason, the Company and the Placement Agent severally shall
contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the
Company on the one hand and of the Placement Agent on the other in connection with the statements or omissions which resulted
in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be
equal to the total net proceeds from the Offering (before deducting expenses) received by it, and benefits received by the
Placement Agent shall be deemed to be equal to the Placement Fee. Relative fault shall be determined by reference to, among
other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information provided by the Company on the one hand or the Placement Agent on the other, the
intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission. The Company and the Placement Agent agree that it would not be just and equitable if contribution were
determined by pro rata allocation or any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this paragraph (d), in no event shall the Placement Agent
be required to contribute any amount in excess of the amount by which the Placement Fee received by the Placement Agent with
respect to the offering of the Preferred Shares exceeds the amount of any damages that the Placement Agent has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. Notwithstanding the
provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 6, each person who controls the Placement Agent within the
meaning of either the Securities Act or the Exchange Act and each director, officer, employee, affiliate and agent of the
Placement Agent shall have the same rights to contribution as the Placement Agent, and each person who controls the Company
within the meaning of either the Securities Act or the Exchange Act, each senior executive officer of the Company and each
director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable
terms and conditions of this paragraph (d).

 

(e)             
Representations and Agreements to Survive Delivery. The obligations of the Company under this Section 6 shall
be in addition to any liability which the Company may otherwise have. The indemnity and contribution agreements of the parties
contained in this Section 6 and the covenants, warranties and representations of the Company contained in this Agreement
shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation
made by or on behalf of the Placement Agent, any person who controls the Placement Agent within the meaning of either the Securities
Act or the Exchange Act or any affiliate of the Placement Agent, or by or on behalf of the Company, its directors or officers or
any person who controls the Company within the meaning of either the Securities Act or the Exchange Act, and (iii) the issuance
and delivery of the Preferred Shares. The Company and the Placement Agent agree promptly to notify each other of the commencement
of any proceeding against it and, in the case of the Company, against any of the Company’s officers or directors in connection
with the issuance and sale of the Preferred Shares.

 

Section 7.                 
Termination. 

 

If (1) this Agreement shall be terminated
by the Placement Agent pursuant to Section 5 hereof or (2) the sale of the Preferred Shares to Purchasers is not consummated
because of any failure, refusal or inability on the part of the Company to comply with the terms or perform any agreement or obligation
of this Agreement or the Purchase Agreement, other than by reason of a default by the Placement Agent, the Company will, in addition
to paying the amounts described in Section 4 hereof, reimburse the Placement Agent for all of its reasonable, documented
and actual out-of-pocket disbursements (including, but not limited to, the reasonable and documented fees and disbursements
of its outside counsel); provided that the amounts reimbursed to the Placement Agent by the Company pursuant to Section
4 and this Section 7 shall not exceed $50,000 in the aggregate.

 

    -16-

     

    

 

Section 8.                 
Notices. 

 

All statements, requests, notices and agreements
hereunder shall be in writing or by facsimile or email transmission, and:

 

	 	(a)   	 if to the Placement Agent, shall be delivered or sent by mail, facsimile or email transmission to:

 

Raymond James & Associates,
Inc.

277 Park Avenue

New York, New York 10179

Attention: Ed Newman

Facsimile No.: (212) 885-1808

Email: Ed.Newman@RaymondJames.com

 

with a copy (which shall not constitute
notice) to:

 

Mintz, Levin, Cohn, Ferris, Glovsky
and Popeo, P.C.

666 Third Avenue

New York, New York 10017

Attention: Ivan K. Blumenthal,
Esq.

Facsimile No.: (212) 983-3115

Email: ikblumenthal@mintz.com

 

		(b)	if to the Company, shall be delivered or sent by mail, facsimile or email transmission to:

 

Leap Therapeutics, Inc.

47 Thorndike Street, Suite B1-1

Cambridge, Massachusetts 02141

Attention: Chief Financial Officer

Facsimile No.: (617) 395-2647

Email: Donsi@leaptx.com

 

with a copy (which shall not constitute notice) to:

 

Morgan, Lewis & Bockius LLP

One Federal Street

Boston, Massachusetts 02110

Attention: Julio E. Vega, Esq.

Facsimile No.: 617-341-7701

Email: julio.vega@morganlewis.com

 

Any such notice shall be effective only upon
receipt. Any party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice
of a new address for such purpose.

 

    -17-

     

    

 

Section 9.                 
Persons Entitled to Benefit of Agreement.

 

This Agreement
shall inure to the benefit of and shall be binding upon the Placement Agent, the Company and their respective successors and
assigns and the controlling persons, officers and directors referred to in Section 6 hereof. Nothing in this Agreement
is intended or shall be construed to give to any other person, firm or corporation, other than the persons, firms or
corporations mentioned in the preceding sentence, any legal or equitable remedy or claim under or in respect of this
Agreement, or any provision herein contained. The term “successors and assigns” as herein used shall not include
any purchaser of the Preferred Shares by reason merely of such purchase.

 

Section 10.               
Governing Law.

 

This Agreement is to be construed in accordance
with and governed by the federal law of the United States of America and the internal laws of the State of New York without giving
effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws
of the State of New York to the rights and duties of the parties.

 

Section 11.               
No Fiduciary Relationship.

 

The Company acknowledges and agrees that
the Placement Agent shall act as an independent contractor, and not as a fiduciary, and any duties of the Placement Agent with
respect to providing investment banking services to the Company, including the offering of the Preferred Shares contemplated hereby
(including in connection with determining the terms of the Offering), shall be contractual in nature, as expressly set forth herein,
and shall be owed solely to the Company. Each party hereto disclaims any intention to impose any fiduciary or similar duty on any
other party hereto. Additionally, the Placement Agent has not acted as a financial advisor, nor has advised or is advising, the
Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction with respect
to the transactions contemplated hereby. The Company shall consult with its own advisors concerning such matters and shall be responsible
for making its own independent investigation and appraisal of the transactions contemplated hereby, and the Placement Agent shall
have no responsibility or liability to the Company with respect thereto. Any review by the Placement Agent of the Company, the
transactions contemplated hereby or other matters relating to such transactions has been and will be performed solely for the benefit
of the Placement Agent and has not been and shall not be performed on behalf of the Company or any other person. It is understood
that the Placement Agent has not and will not be rendering an opinion to the Company as to the fairness of the terms of the Offering.
Notwithstanding anything in this Agreement to the contrary, the Company acknowledges that the Placement Agent may have financial
interests in the success of the Offering contemplated hereby that are not limited to the Placement Fee. The Company hereby waives
and releases, to the fullest extent permitted by law, any claims that the Company may have against the Placement Agent with respect
to any breach or alleged breach of fiduciary duty.

 

Section 12.               
Headings.

 

The headings of the various sections of
this Agreement have been inserted for convenience of reference only and shall not be deemed to be part of this Agreement.

 

Section 13.               
Amendments and Waivers.

 

No supplement, modification or waiver of
this Agreement shall be binding unless executed in writing by the party to be bound thereby. The failure of a party to exercise
any right or remedy shall not be deemed or constitute a waiver of such right or remedy in the future. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (regardless of whether similar), nor
shall any such waiver constitute a continuing waiver unless otherwise expressly provided.

 

    -18-

     

    

 

Section 14.               
Submission to Jurisdiction.

 

By the execution and delivery of this Agreement,
the Company submits to the non-exclusive jurisdiction of United States District Court for the Southern District of New York and
of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to the Securities
or this Agreement. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, any objection
that it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that any
such proceeding brought in such court has been brought in an inconvenient forum. In the event of any legal proceeding arising out
of or relating to the Securities or this Agreement, the prevailing party in any such legal proceeding shall be entitled to recover
out-of-pocket costs and expenses (including reasonable fees and disbursements of attorneys and experts) from the non-prevailing
party in addition to any damage award that the non-prevailing party may be entitled to recover under applicable law.

 

Section 15.                Counterparts.

 

This Agreement may be executed in counterparts,
each of which shall constitute an original, but all of which, when taken together, shall constitute but one instrument, and shall
become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. Signatures
transmitted by facsimile or email shall be deemed original signatures.

 

[Signature page(s)
follow]

 

    -19-

     

    

 

If the foregoing is in accordance with your
understanding of the agreement between the Company and the Placement Agent, kindly indicate your acceptance in the space provided
for that purpose below.

 

	 	Very truly yours,
	 	 
	 	LEAP THERAPEUTICS, INC., a Delaware corporation
	 	 
	 	By:	 /s/ Christopher Mirabelli, Ph.D.
	 	Name:   	Christopher Mirabelli, Ph.D.
	 	Title:	 President and Chief Executive Officer

 

Accepted as of the date first above written:

 

	RAYMOND JAMES & ASSOCIATES, INC.	
	 	 
	By:	/s/ Stuart Barich	
	Name:  	 Stuart Barich	
	Title:	 Managing Director	

 

[Signature Page to Placement Agency Agreement]

 

     

     

    

 

Exhibit A

 

Form of Purchase Agreement

 

     

     

    

 

Exhibit B

 

Pricing Information

 

Number of Shares of Series A Preferred: 1,421,801

 

Offering Price per Share of Series A Preferred: $10.54

 

Number of Shares of Series B Preferred: 1,137,442

 

Offering Price per Share of Series B Preferred: $10.55

 

Placement Fee: 3.4074% of the gross proceeds from the sale of
the Preferred SharesExhibit 10.3

 

VOTING AGREEMENT

 

THIS VOTING AGREEMENT
is made as of January 3, 2020 (the “Agreement”), by and among Leap Therapeutics, Inc., a Delaware corporation
(the “Company”), and [INSERT NAME OF STOCKHOLDER] (the “Stockholder”). Capitalized terms
used in this Agreement without definition shall have the respective meanings ascribed to such terms in the Purchase Agreement (as
defined below).

 

W I T N E S S E T H

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, the Company is entering into a Securities Purchase Agreement, dated as of the
date hereof (as such agreement may hereafter be amended from time to time, the “Purchase Agreement”), with certain
investors (the “Purchasers”) that provide for, upon the terms and subject to the conditions set forth therein,
two series, designated as: (i) the Series A Preferred Stock, the terms of which are set forth in the Certificate of Designation
of Series A Preferred Stock of the Company (the “Series A Preferred Stock”), and (ii) the Series B Preferred
Stock, the terms of which are set forth in the Certificate of Designation of Series B Preferred Stock of the Company (the “Series
B Preferred Stock”);

 

WHEREAS, the Series
A Preferred Stock will be, subject to the approval of the Company’s stockholders, mandatorily convertible into (i) warrants
to purchase an aggregate of 14,218,010 shares of the Company’s common stock, par value $0.001 per share (the “Common
Stock”), at an exercise price of $0.001 per share (the “Pre-Funded Warrants”), and (ii) warrants to
purchase an aggregate of either (x) 14,218,010 Pre-Funded Warrants or (y) 14,218,010 shares of the Common Stock, at an exercise
price of $2.11 per share of Common Stock underlying such Pre-Funded Warrants or referred to the foregoing clause (y), as applicable
(the “Series A Coverage Warrants”), in each case subject to and in accordance with the terms and conditions
of the Series A Preferred Stock Certificate of Designation;

 

WHEREAS, the Series
B Preferred Stock will be, subject to the approval of the Company’s stockholders, mandatorily convertible into (i) an aggregate
of 11,374,420 shares of Common Stock and (ii) warrants to purchase an aggregate of 11,374,420 shares of the Common Stock at an
exercise price of $2.11 per share (the “Series B Coverage Warrants”), in each case subject to and in accordance
with the terms and conditions of the Series B Preferred Stock Certificate of Designation;

 

WHEREAS, the shares
of Series A Preferred Stock and the Series B Preferred Stock to be sold pursuant to the terms of the Purchase Agreement are sometimes
referred to herein as the “Purchased Shares.” The shares of Common Stock into which the Purchased Shares are to be
convertible, as well as the shares of Common Stock underlying the Pre-Funded Warrants and the Coverage Warrants, are referred to
as the “Underlying Shares,” and the Underlying Shares, the Purchased Shares, the Pre-Funded Warrants and the Coverage
Warrants are referred to, collectively, as the “Securities;”

 

    -1-

     

    

 

WHEREAS, pursuant
to the Purchase Agreement, the Company shall call a meeting of its stockholders to be held as promptly as practicable following
the date hereof, but in no event later than ninety (90) days following the Closing Date, to vote on the following proposals: (i)
to approve an increase in the number of shares of Common Stock that the Company is authorized to issue from one hundred ten million
(110,000,000) shares to two hundred fifty million (250,000,000) shares; and (ii) to approve (1) the issuance of Common Stock and
Pre-Funded Warrants, as applicable, upon the conversion of the Mandatorily Convertible Preferred Stock, (2) the issuance of the
Coverage Warrants upon the conversion of the Mandatorily Convertible Preferred Stock and (3) the issuance of Common Stock upon
the exercise of the Pre-Funded Warrants and the Coverage Warrants, in each case for purposes of Rule 5635 of the Nasdaq Stock Market
Rules, and therefore, the Company has agreed to call a meeting of its stockholders for the purpose of seeking approval of the Company’s
stockholders for the approval of the items referred to in the foregoing clauses (i) and (ii) (the “Proposals”);

 

WHEREAS, as of the
date hereof, the Stockholder beneficially owns the number of shares of Common Stock set forth opposite such Stockholder’s
name on Schedule I hereto (all such shares so beneficially owned and which may hereafter be acquired by such Stockholder
prior to the termination of this Agreement, whether upon the exercise of options, conversion of convertible securities, exercise
of warrants or by means of purchase, dividend, distribution or otherwise, being referred to herein as the “Shares”);
and

 

WHEREAS, in order
to induce the Company and the Purchasers to enter into the Purchase Agreement, the Stockholder is willing to enter into this Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby,
the Company and Stockholder hereby agree as follows:

 

    -2-

     

    

 

ARTICLE I.

 

TRANSFER AND VOTING OF SHARES; AND

OTHER COVENANTS OF THE STOCKHOLDER

 

SECTION 1.1. Voting
of Shares. From the date hereof until termination of this Agreement pursuant to Section 3.1 hereof (the “Term”),
at any meeting of the stockholders of the Company, however called and at any adjournment or postponement thereof, and in any action
by written consent of the stockholders of the Company, in either case at or pursuant to which the Proposals are to be considered
and voted on by the stockholders of the Company, the Stockholder shall (a) appear at such meeting or otherwise cause the Shares
to be counted as present thereat for purposes of establishing a quorum and (b) vote (or cause to be voted) the Shares (i)
in favor of the Proposals and such other matters as may be necessary or advisable to consummate the transactions contemplated by
the Purchase Agreement (the “Transactions”) and (ii) against the approval or adoption of any proposal made in
opposition to, or in competition with, the Proposals or the Transactions, and against any other action that is intended, or could
reasonably be expected, to otherwise materially impede, interfere with, delay, postpone, discourage or adversely affect the consummation
of the Transactions. If the Stockholder is the beneficial owner, but not the record holder, of any of the Shares, the Stockholder
agrees to cause the record holder and any nominees to vote all of such Shares in accordance with this Section 1.1, including by
executing such documentation as shall be requested by the record holder or any such nominee for purposes of giving voting instructions
thereto.

 

SECTION 1.2.
Grant of Irrevocable Proxy.

 

(a)               
The Stockholder hereby irrevocably and unconditionally (to the fullest extent permitted by
law) grants to, and appoints, the Company and each of its executive officers and any of them, in their capacities as officers of
the Company (the “Grantees”), as the Stockholder’s proxy and attorney-in-fact (with full power of substitution
and re-substitution), for and in the name, place and stead of the Stockholder, to vote the Shares, to instruct nominees or record
holders to vote the Shares, or to grant a consent or approval or dissent or disapproval in respect of the Shares, in each case
in accordance with Section 1.1 hereof and, in the discretion of the Grantees, with respect to any proposed adjournments or postponements
of any meeting of stockholders of the Company at which any of the matters described in Section 1.1 hereof are to be considered.

 

(b)               
The Stockholder hereby affirms that the irrevocable proxy set forth in this Section 1.2 is
given in connection with the execution of the Purchase Agreement and the proposed issuance of the Securities as contemplated thereby,
and that such irrevocable proxy is given to secure the performance of the duties of the Stockholder under this Agreement. The Stockholder
hereby further affirms that the irrevocable proxy is coupled with an interest and may under no circumstances be revoked, except
as otherwise set forth herein. The Stockholder hereby ratifies and confirms all that the Grantees may lawfully do or cause to be
done by virtue hereof. The irrevocable proxy set forth in this Section 1.2 is executed and intended to be irrevocable in accordance
with the provisions of Section 212 of the Delaware General Corporation Law. Notwithstanding this Section 1.2, the proxy granted
by the Stockholder shall be revoked upon termination of this Agreement in accordance with its terms. 

 

    -3-

     

    

 

(c)               
The Grantees may not exercise this irrevocable proxy on any other matter except as provided
above. 

 

SECTION 1.3. No Inconsistent
Arrangements. Except as contemplated by this Agreement, from the date hereof until the record date for the stockholders’
meeting of the Company at which the Proposals are to be voted on by the stockholders of the Company, the Stockholder will not (a) directly
or indirectly, sell, transfer, assign, pledge, hypothecate, tender, encumber or otherwise dispose of in any manner any of the Shares,
or consent or agree to do any of the foregoing, (b) directly or indirectly, limit its right to vote in any manner any of the
Shares (other than as set forth in this Agreement), including without limitation by the grant of any proxy, power of attorney or
other authorization in or with respect to the Shares (other than any such proxy, power of attorney or other authorization consistent
with, and for purposes of complying with, the provisions of Section 1.1 hereof), by depositing the Shares into a voting trust,
or by entering into a voting agreement, or consent or agree to do any of the foregoing or (c) take any action which would
have the effect of preventing or disabling the Stockholder from performing its obligations under this Agreement. Notwithstanding
the foregoing, any Stockholder may sell or transfer any or all of the Shares to any Person (as defined below) in a private transaction
at any time on or prior to the record date for such stockholders’ meeting of the Company, provided that the transferee of
such Shares executes and delivers to the Company a Voting Agreement with respect to such transferred Shares containing substantially
the same terms as this Agreement. For purposes of this Section 1.3, the term “sell” or “transfer”
or any derivatives thereof shall include, but not be limited to, (A) a sale, transfer or disposition of record or beneficial
ownership, or both and (B) a short sale with respect to the Shares or substantially identical property, entering into or acquiring
an offsetting derivative contract with respect to the Shares or substantially identical property, entering into or acquiring a
futures or forward contract to deliver the Shares or substantially identical property or entering into any transaction that has
the same effect as any of the foregoing.

 

SECTION 1.4. Stop
Transfer. The Company shall issue stop-transfer instructions to the transfer agent for the Shares instructing the transfer
agent not to register any transfer of Shares during the Term except in compliance with the terms of this Agreement.

 

SECTION 1.5. Additional
Shares. The Stockholder hereby agrees that, while this Agreement is in effect, such Stockholder shall promptly notify the Company
of any new Shares acquired (whether upon the exercise of options, conversion of convertible securities, exercise of warrants or
by means of purchase, dividend, distribution or otherwise) by such Stockholder after the date hereof.

 

SECTION 1.6. Disclosure.
The Stockholder hereby authorizes the Company to publish and disclose in any announcement or disclosure required by the United
States Securities and Exchange Commission (the “SEC”), including in any proxy statement filed with the SEC in
connection with any meeting of stockholders of the Company at which the Proposals are to be considered and all documents and schedules
filed with the SEC in connection with the foregoing, the Stockholder’s identity and ownership of the Shares and the nature
of such Stockholder’s commitments, arrangements and understandings under this Agreement.

 

    -4-

     

    

 

ARTICLE II.

 

REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER

 

The Stockholder hereby
represents and warrants to the Company as of the date hereof and as of the date of any stockholders’ meeting at which the
Proposals are considered, including any adjournment or postponement thereof (or the date of the taking of any action by written
consent with respect to the Proposals) as follows:

 

SECTION 2.1. Due
Authorization, etc. Such Stockholder has all requisite power and authority to execute, deliver and perform this Agreement and
to take the actions contemplated hereby (including the granting of the irrevocable proxy pursuant to Section 1.2 hereof), all of
which have been duly authorized by all action necessary on the part of such Stockholder. The execution, delivery and performance
of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary action
on the part of such Stockholder. This Agreement has been duly executed and delivered by or on behalf of such Stockholder and constitutes
a legal, valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance with its terms, except
as enforcement may be limited by bankruptcy, insolvency, moratorium or other similar laws and except that the availability of equitable
remedies, including specific performance, is subject to the discretion of the court before which any proceeding for such remedy
may be brought.

 

SECTION 2.2. No
Violation. Neither the execution and delivery of this Agreement nor the performance of this Agreement by such Stockholder will
(a) require such Stockholder to file or register with, or obtain any material permit, authorization, consent or approval of,
any governmental agency, authority, administrative or regulatory body, court or other tribunal, foreign or domestic, or any other
entity, or (b) violate, or cause a breach of or default under, or conflict with any contract, agreement or understanding,
any statute or law, or any judgment, decree, order, regulation or rule of any governmental agency, authority, administrative or
regulatory body, court or other tribunal, foreign or domestic, or any other entity or any arbitration award binding upon such Stockholder,
except for such violations, breaches, defaults or conflicts which would not, individually or in the aggregate, be reasonably likely
to impair or have an adverse effect on such Stockholder’s ability to satisfy its obligations under this Agreement or render
inaccurate any of the other representations made by such Stockholder in this Agreement. No proceedings are pending which, if adversely
determined, will have an adverse effect on such Stockholder’s ability to vote any of the Shares.

 

SECTION 2.3. Ownership
of Shares. Such Stockholder has good and marketable title to, and is the sole legal and beneficial owner (determined in accordance
with Rule 13d-3 under the Securities Exchange Act of 1934, as amended, the “Exchange Act”) of the Shares set
forth opposite its name on Schedule I hereto, in each case free and clear of all liabilities, claims, liens, options,
security interests, proxies, voting trusts, voting agreements, charges, participations and encumbrances of any kind or character
whatsoever, except as may be imposed by federal, state or foreign securities laws and this Agreement. Such Stockholder has not
previously assigned or sold any of the Shares to any third party. On the date hereof, the Shares set forth opposite such Stockholder’s
name on Schedule I hereto constitute all of the Shares owned of record or beneficially by such Stockholder. Such Stockholder
has sole voting power and sole power of disposition with respect to the Shares with no restrictions on its voting rights or rights
of disposition pertaining thereto.

 

    -5-

     

    

 

SECTION 2.4. Voting
Authority. Such Stockholder has full legal power, authority and right to vote all of the Shares owned of record and/or beneficially
by such Stockholder in favor of the Proposals and the approval and authorization of the Transactions without the consent or approval
of, or any other action on the part of, any other Person. Without limiting the generality of the foregoing, such Stockholder has
not entered into any voting agreement (other than this Agreement) with any Person with respect to any of the Shares, granted any
Person any proxy (revocable or irrevocable) or power of attorney with respect to any of the Shares, deposited any of the Shares
in a voting trust or entered into any arrangement or agreement with any Person limiting or affecting such Stockholder’s legal
power, authority or right to vote the Shares on any matter. For purpose hereof, “Person” means any individual,
corporation, limited or general partnership, limited liability company, limited liability partnership, trust, association, joint
venture, governmental entity or any other entity or group (as such term is defined in Section 13(d)(3) of the Exchange Act).

 

SECTION 2.5. Reliance
by the Company. Such Stockholder understands and acknowledges that the Company is entering into the Purchase Agreement in reliance
upon such Stockholder’s execution and delivery of this Agreement and the representations and warranties of such Stockholder
contained herein.

 

ARTICLE III.

 

MISCELLANEOUS

 

SECTION 3.1. Termination.
This Agreement shall terminate and be of no further force and effect upon the earliest of (i) immediately following a meeting
of the Company’s stockholders at which the Proposals are voted upon and approved by the Company’s stockholders, which
meeting is duly called and held for such purpose and at which a quorum was present and acting throughout, and (ii) the termination
of the Purchase Agreement at any time prior to the consummation of the Closing contemplated under the Purchase Agreement. No such
termination of this Agreement shall relieve any party hereto from any liability for any breach of this Agreement prior to such
termination.

 

SECTION 3.2. Further
Assurances. From time to time at the request of the Company and without further consideration, the Stockholder will execute
and deliver to the Company such documents and take such action as the Company may reasonably deem to be necessary or desirable
to carry out the provisions hereof.

 

SECTION 3.3. No
Waiver. The failure of any party hereto to exercise any right, power or remedy provided under this Agreement or otherwise available
in respect hereof at law or in equity, or to insist upon compliance by any other party hereto with its obligations hereunder, or
any custom or practice of the parties at variance with the terms hereof shall not constitute a waiver by such party of its right
to exercise any such or other right, power or remedy or to demand such compliance.

 

    -6-

     

    

 

SECTION 3.4. Specific
Performance. The Stockholder acknowledges that the Company will be irreparably harmed and that there will be no adequate remedy
at law for a violation of any of the covenants or agreements of such Stockholder that are contained in this Agreement. It is accordingly
agreed that, in addition to any other remedies which may be available to the Company upon the breach by any Stockholder of such
covenants and agreements, the Company will have the right without the posting of a bond or other security to obtain injunctive
relief to restrain any breach or threatened breach of such covenants or agreements or otherwise to obtain specific performance
of any of such covenants or agreements against such Stockholder. Accordingly, should the Company institute an action or proceeding
seeking specific enforcement of the provisions hereof, the Stockholder hereby waives the claim or defense that the Company has
an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy
at law exists.

 

SECTION 3.5. Notice.
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (a) upon receipt, when delivered personally; (b) upon receipt,
when sent by facsimile (except notice may not be delivered to the Company via facsimile) or e-mail (provided confirmation of transmission
is mechanically or electronically generated and, in the case of an email, a read receipt is received, and in each case kept on
file by the sending party); or (c) upon receipt, when delivered by a nationally recognized overnight delivery service, in
each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall
be:

 

		(i)	if to the Company, to:

 

Leap Therapeutics, Inc.

47 Thorndike St, Suite B1-1

Cambridge, MA 02141

Facsimile number: 617-395-2647

Email address: donsi@leaptx.com

Attn: Chief Financial Officer

 

with a copy to:

 

Morgan, Lewis & Bockius LLP

One Federal Street

Boston, MA 02110-1726

Attn: Julio E. Vega, Esq.

Fax No.: (617) 341-7701

Email: julio.vega@morganlewis.com

 

		(ii)	if to the Stockholder,
                                         as set forth in Schedule I hereto.

 

SECTION 3.6. Capacity.
Notwithstanding anything in this Agreement to the contrary, the Stockholder makes no agreement or understanding herein in any capacity
other than in such Stockholder’s capacity as a record holder and beneficial owner of the Shares.

 

    -7-

     

    

 

SECTION 3.7. Expenses.
Each of the parties hereto will pay its own expenses incurred in connection with this Agreement.

 

SECTION 3.8. Headings.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

SECTION 3.9. Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner adverse to any party. Upon such
determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable
manner to the end that obligations hereunder are fulfilled to the maximum extent possible.

 

SECTION 3.10. Entire
Agreement. This Agreement constitutes the entire agreement and supersedes any and all other prior agreements and undertakings,
both written and oral, among the parties, or any of them, with respect to the subject matter hereof.

 

SECTION 3.11. Successors
and Assigns. Except as otherwise expressly provided herein, this Agreement shall inure to the benefit of, and be binding upon,
the successors, assigns, heirs, executors, administrators and permitted assigns of the parties hereto. No assignment or delegation
by any party to this Agreement of any obligations of such party under this Agreement shall operate to relieve or release such party
from such obligations or from any liability hereunder for failure of such obligations to be performed in accordance with their
respective terms.

 

SECTION 3.12. Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement will be governed by and construed and enforced in accordance
with the laws of the State of Delaware, without regard to its principles of conflicts of laws. Each party hereby irrevocably submits
to the non-exclusive jurisdiction of the state and federal courts sitting in Delaware for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of this Agreement), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it
is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient
venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY
IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

    -8-

     

    

 

SECTION 3.13. Amendment.
This Agreement may not be amended except by an instrument in writing signed on behalf of the Company and the Stockholder. If any
material amendment or waiver is proposed to be made with respect to any other Voting Agreement, the Company hereby covenants and
agrees that the Stockholder shall be afforded the opportunity to enter into or receive (as applicable) a comparable amendment or
waiver with respect to this Agreement.

 

SECTION 3.14. Remedies
Not Exclusive. All rights, powers and remedies provided under this Agreement or otherwise available in respect hereof at law
or in equity will be cumulative and not alternative, and the exercise of any thereof by any party will not preclude the simultaneous
or later exercise of any other such right, power or remedy by such party.

 

SECTION 3.15. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed
by each party hereto and delivered to the other parties. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile or
 “.pdf” signature were the original thereof.

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT
BLANK]

 

    -9-

     

    

 

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

 

	 	LEAP THERAPEUTICS, INC.
	 	 
	 	By:	 
	 	Name:  

Title:	Christopher Mirabelli, Ph.D.

President and Chief Executive Officer

 

Signature Page to Voting Agreement

 

     

     

    

 

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

 

	 	[NAME OF STOCKHOLDER]
	 	 
	 	By:	                                         
	 	Name:	 
	 	Title:	 

 

Signature Page to Voting Agreement

 

     

     

    

 

Schedule I

 

	Name of Stockholder	Number of Shares Beneficially Owned
	
        [INSERT NAME OF STOCKHOLDER]

        [INSERT ADDRESS]

        [INSERT ADDRESS]

        [INSERT ADDRESS]
	[                          ]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]