Document:

EXHIBIT 10.10

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT
(the “Agreement”) is made and entered into as of __________ between Imagen Biopharma, Inc., a Delaware corporation
(the “Company”), and ________________ (“Indemnitee”).

 

WITNESSETH THAT:

 

WHEREAS, highly competent
persons have become more reluctant to serve corporations as directors or officers or in other capacities unless they are provided
with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the corporation;

 

WHEREAS, although the furnishing
of liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities has been a customary
and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given
current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more
exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being
increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would
have been brought only against the Company or business enterprise itself. The Bylaws and Certificate of Incorporation of the Company
require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant
to the General Corporation Law of the State of Delaware (“DGCL”). The Bylaws and Certificate of Incorporation
and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate
that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect
to indemnification;

 

WHEREAS, the uncertainties
relating to liability insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board has determined
that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company's stockholders
and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such
persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue
concern that they will not be so indemnified;

 

WHEREAS, this Agreement
is a supplement to and in furtherance of the Bylaws and Certificate of Incorporation of the Company and any resolutions adopted
pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;
and

 

WHEREAS, Indemnitee does
not regard the protection available under the Company's Bylaws and Certificate of Incorporation and insurance as adequate in the
present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires
Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or
on behalf of the Company on the condition that he be

 

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so indemnified; and

 

WHEREAS, Indemnitee has
certain rights to indemnification and/or insurance provided by other entities and/or organizations which Indemnitee and such other
entities and/or organizations intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as provided
herein, with the Company’s acknowledgement and agreement to the foregoing being a material condition to Indemnitee’s
willingness to serve on the Board.

 

NOW, THEREFORE, in consideration
of Indemnitee’s agreement to serve as an officer or a director from and after the date hereof, the parties hereto agree as
follows:

 

1.         Indemnity
of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law,
as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality
thereof.

 

(a)          Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section l(a) if, by reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened
to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of
the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined),
judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him, or on his behalf, in connection
with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding,
had no reasonable cause to believe the Indemnitee’s conduct was unlawful.

 

(b)          Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section
1(b) if, by reason of his Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any
Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against
all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding
if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses shall be made in respect
of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless
and to the extent that the Court of Chancery of the State of Delaware shall determine that such indemnification may be made.

 

(c)          Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is, by reason of his Corporate Status, a party to or is otherwise involved in and is successful, on the merits
or otherwise, in any Proceeding, or in defense of any claim, issue or matter therein, in whole or in part, he shall be indemnified
to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses actually and reasonably
incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall
indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully
resolved claim, issue or matter. For purposes of this Section and without limitation, the termination of any claim,

 

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issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

2.         Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1 of
this Agreement, to the maximum extent permitted by law, the Company shall and hereby does indemnify and hold harmless Indemnitee
against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on
his behalf if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding
(including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the negligence
or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant
to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined
(under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.

 

3.         Contribution.

 

(a)          Whether
or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending
or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action,
suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any
right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement
provides for a full and final release of all claims asserted against Indemnitee.

 

(b)          Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee
shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action,
suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding),
the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably
incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors
or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding
arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform
to law, be further adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company
other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the
one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines or
settlement amounts, as well as any other equitable considerations which the Law may require to be considered. The relative fault
of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee
(or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined
by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage,
the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive.

 

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(c)          The
Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers,
directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

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

 

4.         Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his Corporate Status, a witness, or is made (or asked to) respond to discovery requests, in any Proceeding to which Indemnitee
is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection
therewith.

 

5.         Advancement
of Expenses. Notwithstanding any provision to the contrary in this Agreement, the Company shall advance all Expenses incurred
by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty
(30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from
time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence
the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written undertaking by or on behalf of
Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified
against such Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest
free and without reference to the financial ability of the Indemnitee to make such repayment or to such Indemnitee’s ultimate
entitlement to indemnification under other provisions of this Agreement. Advancement of Expenses pursuant to this Section 5
shall not require approval of the Board or the stockholders of the Company, or of any other person or body. The Secretary of the
Company shall promptly advise the Board in writing of the request for advancement of Expenses, of the amount and other details
of the advancement and of the undertaking to make repayment pursuant to this Section 5. Advances shall include any and all reasonable
Expenses incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding
statements to the Company to support the advances claimed.

 

6.         Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee
is entitled to indemnification under this Agreement.

 

(a)          Initial
Request. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including
therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to
determine whether and to what extent Indemnitee is entitled to indemnification including, but not limited to, a description of
the nature of the Proceeding and the facts underlying

 

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such Proceeding. The Secretary
of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that
Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to
the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability that it may have
to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests of the Company.

 

(b) Method
of Determination. Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a)
hereof, a determination (if required by applicable law) with respect to Indemnitee’s entitlement to indemnification
shall be made as follows: (1) if a Change of Control has occurred, unless Indemnitee shall request in writing that such determination
be made in accordance with clause (2) of this Section 6(b), the determination shall be made by Independent Counsel in
a written statement to the Board, a copy of which shall be delivered to Indemnitee; or (2) if a Change of Control has not occurred,
the determination shall be made by (A) the Board by a majority vote of a quorum consisting of Disinterested Directors (or
pursuant to unanimous written consent in lieu of a meeting if all of the Company’s Directors are Disinterested Directors),
(B) a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less
than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct,
by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, or (D) if
so directed by the Board of Directors, by the stockholders of the Company.

 

(c) Selection,
Payment, Discharge, of Independent Counsel. In the event the determination of entitlement to indemnification is to be
made by Independent Counsel pursuant to Section 6(b) of this Agreement, the Independent Counsel shall be selected, paid,
and discharged in the following manner: (1) if a Change of Control has not occurred, the Independent Counsel shall be
selected by the Board of Directors, and the Company shall give written notice to Indemnitee advising Indemnitee of the
identity of the Independent Counsel so selected, or (2) if a Change of Control has occurred, the Independent Counsel shall be
selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event clause
(1) of this Section 6(c) shall apply), and Indemnitee shall give written notice to the Company advising it of the
identity of the Independent Counsel so selected. Following the initial selection of Independent Counsel described in clauses
(1) and (2) of this Section 6(c), Indemnitee or the Company, as the case may be, may, within 10 days after
such written notice of selection has been given, deliver to the other party a written objection to such selection. Such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of
“Independent Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as
Independent Counsel. If such written objection is made and substantiated, the Independent Counsel so selected may not
serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is
without merit. Either the Company or Indemnitee may petition the Delaware Court (as defined in Section 20) if the parties
have been unable to agree on the selection of Independent Counsel within 20 days after submission by Indemnitee of a
written request for indemnification pursuant to Section 6(a) of this Agreement. Such petition may request a
determination whether an objection to the party’s selection of Independent Counsel is without merit and/or seek the
appointment as Independent Counsel of a person selected by the Delaware Court or by such other person as the Delaware Court
shall designate. A person so appointed shall act as Independent Counsel under this Section 6.

 

The Company shall pay any
and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant
to Section 6 hereof, and

 

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the Company shall pay all
reasonable fees and expenses incident to the procedures of Section 6(c) hereof, regardless of the manner in which such Independent
Counsel was selected or appointed. If it is determined that Indemnitee is entitled to indemnification under this Section 6, payment
shall be made within ten (10) days.

 

(d)          Burden
of Proof. In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity
making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to
overcome this presumption shall, to the maximum extent not prohibited by law, have the burden of proof and the burden of persuasion
by clear and convincing evidence. Neither the failure of the Company (including by its directors or independent legal counsel)
to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company
(including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall
be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(e)          Reliance
as Safe Harbor. For purposes of any determination of “good faith”, Indemnitee shall be deemed to have acted in
good faith if Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements,
or on information supplied to Indemnitee by the officers of the Enterprise (as hereinafter defined) in the course of their duties,
or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an
independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In
addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall
not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the
foregoing provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times
acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. Anyone
seeking to overcome this presumption shall, to the maximum extent not prohibited by law, have the burden of proof and the burden
of persuasion by clear and convincing evidence.

 

(f)           Cooperation.
Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any Independent Counsel, member of the Board of Directors or stockholder of the Company
shall act reasonably and in good faith in making a determination regarding the Indemnitee’s entitlement to indemnification
under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating
with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as
to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless
therefrom.

 

(g)          Presumptions.
In making a determination with respect to entitlement to indemnification hereunder, it shall be presumed that Indemnitee has been
successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall, to
the extent not prohibited by law, have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

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(h)          Effect
of Other Proceedings. The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement
or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement)
of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

7.         Remedies
of Indemnitee.

 

(a)          In
the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within 90 days after
receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 4 of
this Agreement within ten (10) days after receipt by the Company of a written request therefor, or (v) payment of indemnification
is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination
is deemed to have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in
the Delaware Court (as defined in Section 20), of Indemnitee’s entitlement to such indemnification or advancement, as the
case may be. Indemnitee shall commence such proceeding seeking an adjudication within 180 days following the date on which Indemnitee
first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s
right to seek any such adjudication.

 

(b)          In
the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a
de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c)          If
a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement
not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(d)          In
the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies
maintained by the Company, the Company shall, to the maximum extent permitted by law, pay on his behalf, in advance, any and all
expenses (of the types described in the definition of Expenses in Section 13 of this Agreement) actually and reasonably
incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advancement of expenses or insurance recovery.

 

(e)          The
Company shall, to the maximum extent not prohibited by law, be precluded from asserting in any judicial proceeding commenced pursuant
to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall

 

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stipulate in any such court
that the Company is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses
and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefore) advance,
to the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action
brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors'
and officers' liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined
to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

 

(f)           Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be
required to be made prior to the final disposition of the Proceeding.

 

8.         Non-Exclusivity;
Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.

 

(a)          The
rights of indemnification and advancement as provided by this Agreement shall not be deemed exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote
of stockholders, a resolution of directors or otherwise, of the Company. No amendment, alteration or repeal of this Agreement or
of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or
omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in
Delaware law, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the
Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by
this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive
of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

(b)          To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent
or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof,
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of
such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result
of such proceeding in accordance with the terms of such policies.

 

(c)          Subject
to paragraph (f) below, in the event of any payment under this Agreement, the Company shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to
secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights.

 

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(d)          Subject
to paragraph (f) below, the Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable
hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract,
agreement or otherwise.

 

(e)          Except
as provided in paragraph (c) above and subject to paragraph (f) below, the Company's obligation to indemnify or advance Expenses
hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee or agent of any other
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee
has actually received as indemnification or advancement of expenses from such other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise.

 

(f)           The
Company acknowledges that Indemnitee has certain rights to indemnification and advancement of expenses provided by NantKwest and
certain affiliates thereof (collectively, the “Secondary Indemnitor[s]”). The Company agrees that, as between
the Company and the Secondary Indemnitor[s], the Company is primarily responsible for amounts required to be indemnified or advanced
under the Company’s Certificate of Incorporation, Bylaws or this Agreement and any obligation of the Secondary Indemnitor[s]
to provide indemnification or advancement for the same amounts is secondary to those Company obligations. To the extent not in
contravention of any insurance policy or policies providing liability or other insurance for the Company or any director, trustee,
general partner, managing member, officer, employee, agent or fiduciary of the Company or any other Enterprise, the Company waives
any right of contribution or subrogation against the Secondary Indemnitor[s] with respect to the liabilities for which the Company
is primarily responsible under this Section 8(f). In the event of any payment by the Secondary Indemnitor[s] of amounts otherwise
required to be indemnified or advanced by the Company under the Company’s Certificate of Incorporation, Bylaws or this Agreement,
the Secondary Indemnitor[s] shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee for
indemnification or advancement of expenses under the Company’s Certificate of Incorporation, Bylaws or this Agreement or,
to the extent such subrogation is unavailable and contribution is found to be the applicable remedy, shall have a right of contribution
with respect to the amounts paid. The Secondary Indemnitor[s] [are][is an] express third-party [beneficiaries][beneficiary] of
the terms of this Section 8(f).

 

9.         Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this
Agreement to make any indemnity in connection with any claim made against Indemnitee:

 

(a)          for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except
with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision, provided, that the foregoing
shall not affect the rights of Indemnitee or the Secondary Indemnitors set forth in Section 8(f) above;

 

(b)          for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory
law or common law;

 

(c)          in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless

 

    	 	9	 

     

    

 

(i) the Board of Directors
of the Company authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the
indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law;

 

(d)          with
respect to remuneration paid to Indemnitee if it is determined by final judgment or other final adjudication that such remuneration
was in violation of law (and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange
Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and
is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication, as
indicated in the last paragraph of this Section 9 below);

 

(e)           a
final judgment or other final adjudication is made that Indemnitee’s conduct was in bad faith, knowingly fraudulent or deliberately
dishonest or constituted willful misconduct (but only to the extent of such specific determination); or

 

(f)           on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to
the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled.

 

For purposes of this Section
9, a final judgment or other adjudication may be reached in either the underlying proceeding or action in connection with which
indemnification is sought or a separate proceeding or action to establish rights and liabilities under this Agreement.

 

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

 

10.       Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is
an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee
shall be subject to any Proceeding (or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status,
whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification
can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the
parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal
and legal representatives.

 

11.       Security.
To the extent requested by Indemnitee and approved by the Board of Directors of the Company, the Company may at any time and from
time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit,
funded trust or

 

    	 	10	 

     

    

 

other collateral. Any such
security, once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.

 

12.       Enforcement.

 

(a)          The
Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby
in order to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is
relying upon this Agreement in serving as an officer or director of the Company.

 

(b)          This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

13.       Definitions.
For purposes of this Agreement:

 

(a)          A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of
any of the following events:

 

(i) Acquisition
of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly,
of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company's then outstanding
securities;

 

(ii) Change in
Board. During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by
a person who has entered into an agreement with the Company to effect a transaction described in Sections 13(a)(i), 13(a)(iii)
or 13(a)(iv)) whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at
least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election
or nomination for election was previously so approved, cease for any reason to constitute a least a majority of the members of
the Board;

 

(iii) Corporate
Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity)
more than fifty one percent (51%) of the combined voting power of the voting securities of the surviving entity outstanding immediately
after such merger or consolidation and with the power to elect at least a majority of the Board or other governing body of such
surviving entity;

 

(iv) Liquidation.
The approval by the stockholders of the

 

    	 	11	 

     

    

 

Company of a complete liquidation of
the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets; and

 

(v) Other Events.
There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below),
whether or not the Company is then subject to such reporting requirement.

 

For purposes of this Section 13(a),
the following terms shall have the following meanings:

 

(A)          “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(B)          “Person”
shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person shall exclude
(i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company and (iii)
any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company.

 

(C)          “Beneficial
Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however,
that Beneficial Owner shall exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company
approving a merger of the Company with another entity.

 

(b)          “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company
or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person is or
was serving at the express written request of the Company.

 

(c)          “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

(d)          “Enterprise”
shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise
that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary.

 

(e)          “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery
in any Proceeding. Expenses also shall include Expenses incurred in connection with any appeal

 

    	 	12	 

     

    

 

resulting from any Proceeding
and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments
under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersede
as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee
or the amount of judgments or fines against Indemnitee.

 

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

 

(g)          “Proceeding”
includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of
the Company or otherwise and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved
as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by reason of any
action taken by him or of any inaction on his part while acting as an officer or director of the Company, or by reason of the fact
that he is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, trust or other Enterprise; in each case whether or not he is acting or serving in any such capacity
at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one
pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to Section 7 of this
Agreement to enforce his rights under this Agreement.

 

14.       Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to
the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision
shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

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

 

16.       Notice
By Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may
be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation
which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially
prejudices the Company.

 

    	 	13	 

     

    

 

17.       Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent
during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after
having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with
a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications
shall be sent:

 

(a)          To
Indemnitee at the address set forth below Indemnitee signature hereto.

 

(b)          To
the Company at:

 

Imagen Biopharma, Inc.

____________________________

____________________________

Attn: President

 

or to such other address as
may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

18.       Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

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

 

20.       Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed
and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with
this Agreement shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”),
and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to
submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection
with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware,
irrevocably Corporation Service Company as its agent in the State of Delaware as such party's agent for acceptance of legal process
in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such
party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding
in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in
the Delaware Court has been brought in an improper or inconvenient forum.

 

SIGNATURE PAGE FOLLOWS

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement on and as of the day and year first above written.

 

	 	COMPANY
	 	Imagen Biopharma, Inc.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	INDEMNITEE
	 	 
	 	 
	 	Name:  
	 	 
	 	Address:Exhibit 10.11

 

CONFIDENTIAL PORTIONS OF THIS AGREEMENT
HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR SUCH PORTIONS. ASTERISKS
DENOTE OMISSIONS.

 

AMENDED AND RESTATED LICENSE AGREEMENT

 

This Amended and Restated License Agreement
("Agreement") is entered into as of July 31, 2017 ("Restated Agreement Effective Date"), by and
between Albert Einstein College of Medicine, Inc., a corporation organized and existing under the laws of the State of New York,
having an office and place of business at 1300 Morris Park Avenue, Bronx, New York 10461 as successor-in-interest to Albert Einstein
College of Medicine of Yeshiva University, a Division of Yeshiva University, ("Licensor") and Cue Biopharma Inc.,
formerly known as Imagen Biopharma, Inc., a corporation organized and existing under the laws of the State of Delaware, having
an office and place of business at do MDB Capital Group LLC, 401 Wilshire Blvd, Suite 1020, Santa Monica, California 90401 ("Licensee").

 

Statement

 

Licensor is the owner of certain patent
rights naming Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich, Rodolfo J. Chaparro, Sarah C. Garrett-Thomson, Scott J. Garfoth
and James D. Love ("the Investigators") as inventors, which relate to methods for high throughput receptor-ligand
identification, a cellular platform for rapid and comprehensive T-cell immunomonitoring and SYNTAC Fc fusion constructs and uses
thereof.

 

Licensor is also the owner of certain know-how
relating to synapse for targeted T-cell activation (synTac) molecules, receptor ligand identification, and platforms for T-cell
immunomonitoring. Licensee wishes to acquire an exclusive license in the Field (as defined below) from Licensor with respect to
the aforementioned patent rights and know-how.

 

Licensee and Licensor are parties to a License
Agreement effective January 14, 2015, as amended pursuant to Amendment No. 1 to the License Agreement, effective June 2, 2015 and
pursuant to a Second Amendment Agreement effective April 19, 2016 (collectively, the "Original License"). Licensee
and Licensor now desire to amend and restate the Original License to modify certain terms, including adding a license to sell Know-How
Products and MHC Class Il Products, as hereinafter defined

 

NOW, THEREFORE, in consideration
of the promises and mutual covenants, conditions and limitations herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, Licensor and Licensee agree as follows:

 

    	 	- 1 -	 

     

    

 

		1.	Definitions

 

		1.01	“Field” means any and all uses under the Agreement Patents and Know-How.

 

		1.02	“Agreement Patents” means the patent applications listed on Appendix A, together with any and all patents
and patent applications which issue from or are based on such patent applications and from any and all divisionals, continuations,
continuations-in-part (but only to the extent the claims thereof are enabled by disclosure of the parent application) and foreign
counterparts of such patent applications, and any and all reissues, renewals and extensions or the like of such patent applications
and any and all U.S. and foreign patents which are based on such patent applications. Appendix A shall be updated from time-to-time
by the parties.

 

		1.03	“Original Effective Date” shall mean January 14, 2015.

 

		1.04	Licensed Product” means any product, process or service in the Field, the development, manufacture, use, provision,
sale or import of which is covered by a Valid Claim in an Agreement Patent in the country of manufacture and/or sale.

 

		1.05	“Know-How” means technology received by Licensee from Licensor relating to synapse for targeted T-cell activation
(synTac) molecules, receptor ligand identification, or platforms for T-cell immunomonitoring.

 

		1.06	“Know-How Product” means any product or service (or component thereof), other than a Licensed Product or
an MHC Class II Product, the discovery, development, manufacture, use, sale, offering for sale, importation, exportation, distribution,
rental or lease of which involves the use of or incorporation, in whole or in part, of Know-How. For clarity, a product or service
(or component thereof) that includes polypeptides of the major histocompatibility complex Class II grouping but is not a MHC Class
II Product, will be considered a Know-How Product if the discovery, development, manufacture, use, sale, offering for sale, importation,
exportation, distribution, rental or lease of which involves the use of or incorporation, in whole or in part, of Know-How.

 

		1.07	“MHC Class II Products” means any Licensed Product that includes polypeptides of the major histocompatibility
complex Class II grouping.

 

		1.08	“Net Sales” means the total consideration, in any form, received as consideration for the sale, lease, provision
or other disposition of Licensed Products, Know-How Products and/or MHC Class II Products by Licensee and/or Affiliates to an independent
third party ("Total Consideration"), less:

 

    	 	- 2 -	 

     

    

  

		(a)	customary trade and quantity discounts actually allowed, refunds, returns and recalls; and,

 

		(b)	when included in gross sales, customary freight, insurance, storage, shipping, duties, and sales, V.A.T. and/or use taxes based
on sales prices, but not including taxes when assessed on incomes derived from such sales.

 

With respect to consideration received by Licensee
and Affiliates, the total deductions referenced in Sub-sections (a) and (b) of this Section 1.04 shall not exceed [***] of the
Total Consideration for Licensed Products, Know-How Products and MHC Class II Products in any calendar quarter.

 

If Licensee and/or Affiliates intend to accept from
independent third parties any non-cash consideration as Net Sales or intend to provide Licensed Product, Know-How Products and/or
MHC Class lI Products at no charge, Licensee must first notify Licensor in writing in reasonable detail. If the parties can not
agree on the present day value of such non-cash consideration, then the parties will appoint an independent third party to determine
the present day value of such consideration and that value shall be added to Net Sales in place of the non-cash consideration.
The cost of the independent third party will be paid by Licensee.

 

In the event that, during a particular calendar quarter,
a Licensed Product, Know-How Product or MHC Class II Product is sold in combination with one or more other products, whether or
not such other products are packaged or otherwise physically combined with such Licensed Product, Know-How Product or MHC Class
II Product for a single price (a "Combination Product"), Net Sales from sales of a Combination Product, for purposes
of calculating royalties due under this Agreement, shall be calculated by multiplying the Net Sales of the Combination Product
by the fraction AI(A+B), where A is the average per unit sales price for such calendar quarter of the Licensed Product, Know-How
Product or MHC Class it Product sold separately in the country of sale and B is the average per unit sales price for such calendar
quarter of the other product(s) sold separately in the country of sale. In the event that no separate sales are made of the Licensed
Product, Know-How Product or MHC Class II Product on the one hand, and/or the other product(s) in the country of sale on the other
hand, separate sale prices in commensurate countries may be used instead. In the event that no separate sales are made of the Licensed
Product, Know-How Product or MHC Class II Product on the one hand, and/or the other product(s) on the other, Net Sales from sales
of a Combination Product, for purposes of determining royalty payments on such Combination Products, shall be calculated using
the entire Net Sales of such Combination Products.

 

    	 	- 3 -	 

     

    

 

		1.09	“Net Proceeds” shall mean, subject to the exception discussed in sub-section (a) below, the total consideration
in any form received by Licensee from a Sublicensee or optionee in connection with the grant to said Sublicensee or optionee of
rights under Agreements Patents and/or Know-How. Net Proceeds includes, without limitation, license signing fees, maintenance fees,
milestone and minimum payments (whether or not such fees and payments are creditable against future royalties to be paid to Licensee),
and just that portion of the funds received for equity purchases of Licensee which exceeds the fair market value of the equity
based on the most recent sales price of Licensee’s equity securities (or if Licensee is a public company at such time, the
average closing price of the immediately preceding 5 trading days) exclusive of transactions covered by Licensee’s equity
incentive plans.

 

		(a)	Net Proceeds does not include royalties based on Sublicensee Net Sales, and Contract Research.

 

If Licensee intends to accept from a Sublicensee or
optionee any non-cash consideration as Net Proceeds, Licensee must first notify Licensor in writing in reasonable detail. Licensor
shall be deemed to have accepted the transaction unless Licensor notifies Licensee in writing of Licensor’s objection in
reasonable detail within 5 business days of receipt of Licensee’s written notice. if the parties can not agree on the present
day value of such non-cash consideration, then the parties will appoint an independent third party to determine the present day
value of such consideration and that value shall be added to Net Proceeds in place of the non-cash consideration. The cost of the
independent third party will be paid by Licensee.

 

		1.10	“Contract Research” shall mean those funds received by Licensee from a Sublicensee in connection with the
grant to said Sublicensee of rights under Agreement Patents and/or Know-How, which funds are actually used to pay for research
and/or development by Licensee relating directly to Licensed Products, Know-How Products and/or MHC Class II Products, which work
is to be performed by or for Licensee after the date of the sublicense agreement and with results to be reported to Licensor and
licensed to Sublicensee and which is to be performed at a total cost that does not exceed Licensee’s direct costs. Notwithstanding
the foregoing, Contract Research funds received from a Sublicensee which are in excess of [***] of the total consideration received
by Licensee from that Sublicensee in connection with the grant to said Sublicensee of rights under Agreement Patents and/or Know-How
in any twelve month period beginning [***] after the Restated Agreement Effective Date shall be excluded from the definition of
Contract Research and included in the definition of Net Proceeds, unless otherwise approved at the time of execution of the relevant
sublicense by Licensor.

 

    	 	- 4 -	 

     

    

 

		1.11	“Sublicensee Net Sales” means the total consideration, in any form, received as consideration for the sale,
lease, provision or other disposition of Licensed Products, Know-How Products and/or MHC Class II Products by a Sublicensee to
an independent third party ("Sublicensee Total Consideration"), less:

 

		(a)	customary trade and quantity discounts actually allowed, refunds, returns and recalls; and,

 

		(b)	when included in gross sales, customary freight, insurance, storage, shipping, duties, and sales, V.A.T. and/or use taxes based
on sales prices, but not including taxes when assessed on incomes derived from such sales.

 

With respect to consideration received by Sublicensee,
the total deductions referenced in Sub-sections (a) and (b) of this Section 1.11 shall not exceed [***] of the Sublicensee Total
Consideration for Licensed Products, Know-How Products and MHC Class II Products in any calendar quarter.

 

If a Sublicensee intends to accept from independent
third parties any non-cash consideration as Sublicensee Net Sales or intends to provide Licensed Product, Know-How Products and/or
MHC Class II Products at no charge, Licensee must first notify Licensor in writing in reasonable detail. If Licensee and Licensor
can not agree on the present day value of such non-cash consideration, then Licensee and Licensor will appoint an independent third
party to determine the present day value of such consideration and that value shall be added to Sublicensee Net Sales in place
of the non-cash consideration. The cost of the independent third party will be paid by Licensee.

 

    	 	- 5 -	 

     

    

 

In the event that, during a particular calendar quarter,
a Licensed Product, Know-How Product or MHC Class II Product is sold in combination with one or more other products, whether or
not such other products are packaged or otherwise physically combined with such Licensed Product, Know-How Product or MHC Class
II Product for a single price (a "Sublicensee Combination Product"), Sublicensee Net Sales from sales of a Sublicensee
Combination Product, for purposes of calculating royalties due under this Agreement, shall be calculated by multiplying the Sublicensee
Net Sales of the Sublicensee Combination Product by the fraction A/(A+B), where A is the average per unit sales price for such
calendar quarter of the Licensed Product, Know-How Product or MHC Class II Product sold separately in the country of sale and B
is the average per unit sales price for such calendar quarter of the other product(s) sold separately in the country of sale. In
the event that no separate sales are made of the Licensed Product, Know-How Product or MHC Class II Product on the one hand, and/or
the other product(s) in the country of sale on the other hand, separate sale prices in commensurate countries may be used instead.
In the event that no separate sales are made of the Licensed Product, Know-How Product or MHC Class II Product on the one hand,
and/or the other product(s) on the other, Sublicensee Net Sales from sales of a Sublicensee Combination Product, for purposes of
determining royalty payments on such Sublicensee Combination Products, shall be calculated using the entire Sublicensee Net Sales
of such Sublicensee Combination Products.

 

		1.12	“Affiliate” means any entity that, directly or indirectly, through one or more intermediates, controls,
is controlled by, or is under common control with Licensee. For the purposes of this definition, control shall mean the direct
or indirect ownership of at least Fifty Percent (50%) of (i) the stock shares entitled to vote for the election of directors
or (ii) ownership interest.

 

		1.13	“Sublicensee” shall mean any non Affiliate third party to whom Licensee has granted the right to make and
sell (or otherwise dispose of) Licensed Products and/or Know-How Products and/or MHC Class II Products.

 

		1.14	“Confidential Information” means any information designated as such in writing by the disclosing party,
whether by letter or by the use of an appropriate proprietary stamp or legend, prior to or at the time any such confidential or
proprietary materials or information are disclosed by the disclosing party to the recipient. Notwithstanding the foregoing, information
or materials which are orally or visually disclosed to the recipient by the disclosing party, or are disclosed in a writing or
other tangible form without an appropriate letter, proprietary stamp or legend, shall constitute Confidential Information if the
disclosing party, within ten (10) days after such disclosure, delivers to the recipient a written or electronic document or documents
describing such information or materials and referencing the place and date of such oral, visual, written or other tangible disclosure.

 

    	 	- 6 -	 

     

    

 

		1.15	“Valid Claim” means (i) a claim of a pending patent application included within the Agreement Patents that
continues to be prosecuted in good faith for a period of not more than [***] from the date of filing of the national application
including such claim and/or (ii) a claim of an issued and unexpired patent included within the Agreement Patents which has not
been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction,
unappealable or unappealed within the time allowed for appeal, or which has not been disclaimed, denied or admitted to be invalid
or unenforceable through reissue or disclaimer or otherwise.

 

		1.16	“Fully-Diluted, as Converted Basis” shall mean the total number of shares of Licensee's capital stock calculated
to include (1) all issued and outstanding shares of Common Stock, excluding treasury shares, (2) all shares of Common Stock issuable
upon the conversion or exchange of Licensee's debt or equity securities directly or indirectly convertible into or exchangeable
for Common Stock (“Convertible Securities”), (3) all shares of Common Stock issuable upon the exercise of all
then outstanding rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities,
whether or not then exercisable or convertible, and (4) to the extent the number of securities reserved for future issuance (the
“Share Reserve”) pursuant to any Licensee equity incentive plan, stock option or similar plan in effect at the
time of calculation exceeds [***] of the issued and outstanding shares of Common Stock, the amount of such excess shall be assumed
issued and granted and included in such calculation.

 

		1.17	“Funding Threshold” shall mean that Licensee has received total net proceeds of an aggregate of [***] in
cash in consideration for the sale of shares of Licensee’s capital stock or Convertible Securities pursuant to bona fide
financing(s) in a transaction or series of related transactions.

 

		1.18	“Liquidity Event” shall mean the first to occur of either (i) a public offering registered under Section
5 of the Securities Act of 1933, as amended (the “Securities Act”), or any other transaction or series of transactions
in which Licensee or an entity into which Licensee merges, or an Affiliate thereof, becomes or is a public reporting company, or
the wholly-owned subsidiary of a public reporting company, pursuant to Section 12 of the Securities Exchange Act of 1934, as amended
(the “Exchange Act), or becomes a listed company on a non-U.S. exchange, or the wholly-owned subsidiary of a listed
company on a non-U.S. exchange (a “Going Public Event”), or (ii) any of the following in a single transaction
or series of related transactions: (a) a merger, consolidation, reorganization, transfer of Licensee securities, or similar transaction,
in which the stockholders of Licensee immediately prior to such transaction possess less than a majority of the voting power of
Licensee or any successor entity’s issued and outstanding capital stock immediately after such transaction; or (b) a disposition
to one or more persons who are not Affiliates of Licensee of all or substantially all of (y) Licensee’s assets determined
on a consolidated basis or (z) Licensee’s business to which the License Agreement relates.

 

    	 	- 7 -	 

     

    

 

		1.19	“Competing Product” shall mean a product that (i) is sold in a country where there is a Valid Claim, but
is not covered by a Valid Claim, (ii) is a molecule that couples an antigen for targeted T-cell activation or attenuation, and
at least one co-stimulatory ligand for activating or attenuating a T-cell response, (iii) binds to the same molecular target(s)
as a Licensed Product, and (iv) has been approved by the applicable regulatory authority and is being sold in such country by a
third party for use at least one of the same indications as a Licensed Product.

 

		1.20	“Sublicensee Product” shall mean a Licensed Product, Know-How Product and/or MHC Class II Product sold by
a Sublicensee.

 

		2.	Licensor’s Agreements With U.S. Government

 

		2.01	Licensor, through its Investigators, has and will perform research sponsored in part by the United States Government and related
to the Field. As a result of this government sponsorship of the aforementioned research, the United States Government retains certain
rights in such research as set forth in 35 U.S.C. §200 et. seq. and applicable regulations.

 

		2.02	The continuance of such government sponsored research by Licensor and its Investigators during the term of this Agreement will
not constitute a breach of this Agreement. All rights reserved to the U.S. Government under 35 U.S.C. §200 et. seq. and applicable
regulations shall remain so reserved and shall in no way be affected by this Agreement. Licensor and its Investigators are not
obligated under this Agreement to take any action which would conflict in any respect with their past, current or future obligations
to the U.S. Government as to work already performed and to be performed in the future.

 

		3.	Agreement Patents

 

		3.01	Licensor confirms that on the Original Effective Date, Licensee reimbursed Licensor for all costs incurred prior to the Original
Effective Date in connection with the preparation, filing, prosecution and maintenance of the Agreement Patents, which totaled
[***]. Amounts paid by Licensee pursuant to this paragraph are non-refundable and not creditable against any other payment due
to Licensor.

 

    	 	- 8 -	 

     

    

 

		3.02	Licensee and Licensor executed a joint representation engagement letter (“Engagement Letter”) dated March
5, 2015 with Amster, Rothstein & Ebenstein LLP, copy attached as Appendix B.

 

		3.03	As of and after the Original Effective Date, Licensee will pay the cost of preparing, filing, prosecuting, maintaining and
resisting challenges to the validity of the Agreement Patents (as well as the cost of preparing, filing, prosecuting, maintaining
and resisting challenges to the validity of corresponding applications in at least the United States, Europe (an EPO filing designating
all member countries), Canada, Japan and Australia). As part of this obligation, Licensee will pay the cost of applying for an
extension of the term of any patent included within Agreement Patents, if appropriate, under the Drug Price Competition and Patent
Term Restoration Act of 1984 and/or European, Japanese and other foreign counterparts. Licensee will pay the cost of defending
and/or prosecuting any interference, reexamination, reissue, opposition, cancellation and nullity proceedings involving Agreement
Patents. In the event that Licensee elects not to pay to maintain, defend or prosecute any patent or patent application within
the Agreement Patents, Licensee shall give Licensor thirty (30) days prior written notice of such election. Any patents or patent
applications so elected shall at the end of the notice period cease to be considered Agreement Patents, and Licensor shall then
be free, at its election, to abandon or maintain the prosecution of such patent application or issued patent or grant rights to
such patent application or issued patent to third parties. For purposes of this Agreement, “Developing Countries”
shall mean low and lower middle income countries as defined by the World Bank from time to time during the term of this Agreement.
Licensee agrees that any pharmaceutical product sold by Licensee and/or its Sublicensees in Developing Countries, other than India,
China and Brazil, shall be sold at a price equal to its cost to manufacture, distribute and/or sell the pharmaceutical product,
excluding research and development costs associated with developing the pharmaceutical product and obtaining regulatory approvals,
plus [***].

 

		3.04	Amounts paid by Licensee pursuant to Sections 3.01 and 3.03 will be non-refundable and not creditable against any other payment
due to Licensor.

 

    	 	- 9 -	 

     

    

 

		4.	License Grant

 

		4.01	Subject to Section 2, Licensor hereby grants to Licensee and Affiliates a worldwide, exclusive license, with the right by Licensee
only to grant sublicenses to unaffiliated third parties, under Licensor's rights in the Agreement Patents and Know-How to import,
make, have made, use, provide, offer to sell, and sell products, processes and services in the Field, namely, Licensed Products,
Know-How Products and MHC Class II Products. The terms of any sublicense agreement shall not contradict the terms of this Agreement
and shall include (at least) the following provisions: prohibiting any use of Licensor's name (consistent with Section 9.01), requiring
indemnification of Licensor (consistent with Section 12.04), and requiring appropriate insurance (consistent with Section 12.10),
and disclaiming any warranties or representations by Licensor (consistent with Sections 12.05 and 12.06). Licensee shall provide
Licensor with a full, unredacted and complete copy of any executed sublicense or amendment within thirty (30) days of execution
thereof by Licensee. Licensee may designate any such sublicense or amendment, in whole or in part, as Confidential Information.

 

		4.02	Notwithstanding the exclusive rights granted to Licensee pursuant to Section 4.01, Licensor shall retain the right to make,
use and practice, but not the right to license to third parties, Agreement Patents and Know-How in its own laboratories for research
purposes. Licensor shall also retain the right to make, use, and practice the inventions described in [***]. Further, Licensor
shall have the right to make available to not-for-profit scientific institutions and non-commercial researchers materials covered
under Agreement Patents and Know-How, solely for non-commercial scientific and research purposes.

 

		4.03	Nothing contained in this Agreement shall be construed or interpreted as a grant, by implication or otherwise, of any license
except as expressly specified in Section 4.01 hereof. The license granted herein shall apply to the Licensee and Affiliates except
that Affiliates shall not have the right to grant sublicenses. If any Affiliate exercises rights under this Agreement, Licensee
will promptly notify Licensor in writing, and such Affiliate shall be bound by all terms and conditions of this Agreement, including
but not limited to indemnity and insurance provisions, which shall apply to the exercise of the rights, to the same extent as would
apply had this Agreement been directly between Licensor and the Affiliate. In addition, Licensee shall remain fully liable to Licensor
for all acts and obligations of Affiliates such that acts of Affiliates shall be considered the acts of Licensee.

 

		5.	Confidentiality

 

		5.01	Nothing herein contained shall preclude Licensor from making required reports or disclosures to the NIH or to any other philanthropic
or governmental funding organization, provided, however, that no Confidential Information of Licensee is disclosed in the process.

 

    	 	- 10 -	 

     

    

 

		5.02	Licensee will retain in confidence Confidential Information of Licensor and Licensee will not disclose any such Confidential
Information to any third party without the prior written consent of Licensor, except that Licensee shall have the right to disclose
such information to any third party for commercial or research and development purposes under written terms of confidentiality
and non-disclosure which are commercially reasonable. These obligations of confidentiality are for a period ending five (5) years
after termination or expiration of this Agreement, provided, however, that such obligations shall not apply to any such information
which:

 

		(a)	was known to Licensee or generally known to the public prior to its disclosure hereunder as evidenced by written record; or

 

		(b)	subsequently becomes known to the public by some means other than a breach of this Agreement; or

 

		(c)	is subsequently disclosed to Licensee by a third party having a lawful right to make such disclosure; or

 

		(d)	is required to be disclosed by regulation, law or court order to the most limited extent necessary to comply therewith, provided
Licensor is given a fair opportunity to defend against such disclosure, and if disclosure is required, only discloses that portion
of the Confidential Information as is required; or

 

		(e)	is independently developed by Licensee as evidenced by Licensee's written records without reference to Licensor's Confidential
Information.

 

		5.03	Licensor will retain in confidence Confidential Information of Licensee and Licensor will not disclose any such Licensee Confidential
Information to any third party without the prior written consent of Licensee for a period ending five (5) years after termination
or expiration of this Agreement, provided however, that such obligations shall not apply to any such information which:

 

		(a)	was known to Licensor or generally known to the public prior to its disclosure hereunder as evidenced by written record; or

 

		(b)	subsequently becomes known to the public by some means other than a breach of this Agreement; or

 

		(c)	is subsequently disclosed to Licensor by a third party having a lawful right to make such disclosure; or

 

    	 	- 11 -	 

     

    

 

		(d)	is required to be disclosed by regulation, law or court order to the most limited extent necessary to comply therewith, provided
Licensee is given a fair opportunity to defend against such disclosure, and if disclosure is required, only discloses that portion
of the Confidential Information as is required; or

 

		(e)	is independently developed by Licensor as evidenced by Licensors written records without reference to Licensee’s Confidential
Information.

 

		6.	Royalties and Payments

 

		6.01	Licensee shall make the following payments to Licensor:

 

		(a)	Licensee will pay to Licensor:

 

		(i)	[***] of Net Sales on Licensed Products, provided, however, that this rate shall be reduced by [***] on a country-by-country
basis, if a Competing Product exists in such country.

 

		(ii)	[***] of Net Sales on MHC Class II Products, provided, however, that this rate shall be reduced to [***] on a country-by-country
basis, if a Competing Product exists in such country.

 

		(iii)	[***] of Net Sales on Know-How Products.

 

		(b)	Licensee will pay to Licensor a percentage of Net Proceeds as follows:

 

		(i)	[***] of Net Proceeds derived from agreements entered into before an Investigational New Drug application (IND) or foreign
equivalent is filed;

 

		(ii)	[***] of Net Proceeds derived from agreements entered into after an IND or foreign equivalent is filed but prior to the initiation
of a Phase II clinical trial or it foreign equivalent; and

 

		(iii)	[***] of Net Proceeds derived from agreements entered into after initiation of a Phase II clinical trial or its foreign equivalent.

 

		(c)	Licensee will pay to Licensor a percentage of Sublicensee Net Sales as follows:

 

		(i)	The greater of [***] of the royalty received by Licensee from a Sublicensee based on the sale of a Sublicensee Product or [***]
of Sublicensee Net Sales for such Sublicensee Product, derived from agreements entered into before an IND is filed;

 

    	 	- 12 -	 

     

    

 

		(ii)	The greater of [***] of the royalty received by Licensee from a Sublicensee based on the sale of a Sublicensee Product or [***]
of Sublicensee Net Sales for such Sublicensee Product, derived from agreements entered into after an IND but prior to Phase II;
and

 

		(iii)	The greater of [***] of the royalty received by Licensee from a Sublicensee based on the sale of a Sublicensee Product or [***]
of Sublicensee Net Sales for such Sublicensee Product, derived from agreements entered into after initiation of a Phase II clinical
trial.

 

		6.02	Licensee has made or shall make the following license signing and license maintenance payments to Licensor:

 

		(a)	Licensee has paid Licensor a total of [***] as a license signing fee which payment is non-refundable and not creditable against
any other payment due to Licensor pursuant to this Agreement.

 

		(b)	On the second anniversary of the Original Effective Date, Licensee paid to Licensor Twenty-Five Thousand Dollars (US$25,000) as a license maintenance fee. This
fee is non-refundable but is creditable against actual payments due to Licensor pursuant to Section 6.01 during the twelve (12)
month period following this anniversary.

 

		(c)	On the third and fourth anniversaries of the Original Effective Date, Licensee will pay to Licensor Fifty Thousand Dollars (US$50,000) as a license maintenance
fee. Each such fee is non-refundable but is creditable against actual payments due to Licensor pursuant to Section 6.01 during
the twelve (12) month period following each such anniversary.

 

		(d)	On the fifth and sixth anniversary of the Original Effective Date, Licensee will pay to Licensor Seventy-Five Thousand Dollars (US$75,000) as a license maintenance
fee. Each such fee is non-refundable but is creditable against actual payments due to Licensor pursuant to Section 6.01 during
the twelve (12) month period following each such anniversary.

 

		(e)	On the seventh anniversary of the Original Effective Date and every anniversary of the Original Effective Date thereafter,
Licensee will pay to Licensor One Hundred Thousand Dollars (US$100,000) as a license maintenance fee. Each such fee is non-refundable but is creditable against actual
payments due to Licensor pursuant to Section 6.01 during the twelve (12) month period following each such anniversary.

 

    	 	- 13 -	 

     

    

 

		6.03	Licensee shall make the following milestone payments to Licensor for Licensed Products:

 

		(a)	Upon approval of the first Investigational New Drug (IND) application (or its foreign equivalent) by, on behalf of or for the
benefit of Licensee or an Affiliate, for a Licensed Product anywhere in the world, Licensee shall pay to Licensor a fee of [***];

 

		(b)	Upon approval of the first Investigational New Drug (IND) application (or its foreign equivalent) by, on behalf of or for the
benefit of Licensee or an Affiliate, for a new indication for a Licensed Product anywhere in the world, Licensee shall pay to Licensor
a fee of [***];

 

		(c)	Upon the initiation by, on behalf of or for the benefit of Licensee or an Affiliate, of the first Phase II clinical trial (or
its foreign equivalent) for a Licensed Product anywhere in the world, Licensee shall pay to Licensor a fee of [***];

 

		(d)	Upon the initiation by, on behalf of or for the benefit of Licensee or an Affiliate, of the first Phase II clinical trial (or
its foreign equivalent) for a new indication for a Licensed Product anywhere in the world, Licensee shall pay to Licensor a fee
of [***];

 

		(e)	Upon the initiation by, on behalf of or for the benefit of Licensee or an Affiliate, of the first Phase Ill clinical trial
(or its foreign equivalent) for a Licensed Product anywhere in the world, Licensee shall pay to Licensor a fee of [***]; and

 

		(f)	Upon the initiation by, on behalf of or for the benefit of Licensee or an Affiliate, of the first Phase III clinical trial
(or its foreign equivalent) for a new indication for a Licensed Product anywhere in the world, Licensee shall pay to Licensor a
fee of [***];

 

		(g)	Upon first commercial sale by, on behalf of or for the benefit of Licensee or an Affiliate of a Licensed Product anywhere in
the world, Licensee shall pay to Licensor [***].

 

		(h)	Upon first commercial sale by, on behalf of or for the benefit of Licensee or an Affiliate of a Licensed Product having a new
indication anywhere in the world, Licensee shall pay to Licensor [***].

 

    	 	- 14 -	 

     

    

 

		(i)	When the cumulative sales of Licensed Products from a sublicensing agreement reach [***], Licensee shall pay to Licensor Five Million Dollars (US$5,000,000).

 

		(j)	Licensee shall pay to Licensor a one-time success-based milestone of (i) [***] when the cumulative sales of Licensed Products
and/or MHC Class II Products developed in whole or in part with Contract Research received prior to the [***] of the Restated Agreement
Effective Date, reach [***] (“the LP/MHC Milestone”) or (ii) [***] when the cumulative sales of Know-How Products
developed in whole or in part with Contract Research received prior to the [***] of the Restated Agreement Effective Date, reach
[***] (“the KH Milestone”), whichever occurs first. If Licensee pays the KH Milestone first, and then the LP/MHC
Milestone is achieved thereafter, then Licensee shall pay Licensor an additional [***].

 

Payments made pursuant to Sections (a) through (j)
are non-refundable and not creditable against any other payment due to Licensor.

 

		6.04	Only one royalty will be payable on Net Sales by Licensee and Affiliates on a Licensed Product or MHC Class II Product under
Section 6.01, regardless of the number of Valid Claims in Agreement Patents which cover such Licensed Product or MHC Class II Product.
If Licensee or any Affiliate is required, because of the patent rights of any third party or parties, to pay royalties to a third
party or parties in order to make, use or sell a specific Licensed Product or MHC Class II Product, then Licensee may deduct [***]
of all such royalties paid to such third party or parties from up to [***] of the royalty due to Licensor on such specific Licensed
Product or MHC Class II Product pursuant to Section 6.01. In no event will the royalty payable to Licensor on any Licensed Product
or MHC Class II Product be reduced below [***] pursuant to this Section 6.04 and/or Section 6.01. The royalty stacking provision
of this Section 6.04 does not apply to Know-How Products.

 

		6.05	Immediately prior to the consummation of a Liquidity Event, Licensee shall issue to Licensor shares of Licensee’s Common
Stock (the “Shares”) such that, following the issuance of the Shares, Licensor will own:

 

		(a)	if the Liquidity Event is consummated before achievement of the Funding Threshold, a number of shares of Licensee’s Common
Stock equal to [***] of Licensee’s capital stock following such issuance calculated on a Fully Diluted, as Converted Basis,
and

 

		(b)	if the Liquidity Event is consummated after achievement of the Funding Threshold, a number of shares of Licensee’s Common
Stock equal to [***] of Licensee’s capital stock following such issuance calculated on a Fully Diluted, as Converted Basis
as of the date and time such Funding Threshold was met (subject to adjustment for any stock dividends, stock splits, reverse splits
or similar recapitalizations occurring thereafter).

 

    	 	- 15 -	 

     

    

 

If the Liquidity Event is a Going Public Event, Licensee
will use its best efforts to (i) file a registration statement covering the resale of the Shares as soon as practicable but no
later than one hundred eighty (180) calendar days from the date of the Liquidity Event and (ii) cause such registration statement
to be declared effective within 120 calendar days from the date of issuance.

 

		6.06	Licensor hereby agrees that, (a) to the extent requested by Licensee and any managing underwriter retained by Licensee, Licensor
will not directly or indirectly sell, offer to sell, contract to sell (including without limitation, any short sale), grant any
option to purchase, pledge or otherwise transfer or dispose of (other than to donees who agree to be similarly bound), during the
period of duration (not to exceed twelve (12) months) specified by Licensee and Licensee’s managing underwriter following
the effective date of the registration statement of Licensee filed under the Securities Act with respect to Licensee’s initial
public offering, any securities of Licensee held by Licensor at any time during such period except Common Stock included in such
registration and (b) if requested by such underwriter, Licensor agrees to execute a lock-up agreement in such form as the managing
underwriter may reasonably propose; provided that, in each case Licensor’s obligations under this subsection are conditioned
upon all of Licensee’s other founders being subject to identical obligations. Furthermore, in the event that the Shares are
registered under Section 5 of the Securities Act, or become eligible for sale without registration under SEC Rule 144, Licensor
agrees to abide by the volume limitations applicable to an “affiliate” under SEC Rule 144, unless the Licensee or the
Licensee's managing underwriter agrees otherwise. Notwithstanding the foregoing, the registration rights provided for in this Section
6.05 shall terminate on the date that the Shares may be sold without registration under SEC Rule 144.Licensee’s failure to
pay full royalties or make complete payments under Sections 6.01, 6.02 or 6.03 or to comply with its obligations under Section
6.05 shall be a breach of this Agreement if not cured within forty-five (45) days of Licensee’s receipt of written notice
of such failure.

 

		7.	Payment Reports and Records

 

		7.01	All payments required to be made by Licensee to Licensor pursuant to this Agreement shall be made to Licensor in U.S. Dollars
by wire transfer or by check payable to Licensor and sent to Licensor’s address set out in Section 13.01.

 

    	 	- 16 -	 

     

    

 

		7.02	All payments required to be made by Licensee to Licensor pursuant to this Agreement shall be subject to a charge of One and
One-Half Percent (1.5%) per month or Two Hundred and Fifty Dollars (US$250), whichever is greater, if more than 30 days late. Conversion
of foreign currency to U.S. dollars shall be made at the conversion rate quoted by the Wall Street Journal, averaged on the last
business day of each of the three (3) consecutive calendar months constituting the calendar quarter in which the payment was earned.
Licensee will bear any loss of exchange or value and pay any expenses incurred in the transfer or conversion to U.S. dollars.

 

		7.03	Payments due from Licensee to Licensor pursuant to Section 6.01 will be paid within thirty (30) days after the end of each
calendar year quarter during which the payment accrued. If no payments pursuant to Section 6.01 are due for any quarter, Licensee
shall send to Licensor a statement to that effect signed by an officer of Licensee. Payment shall be accompanied by a statement
of the number of Licensed Products, Know-How Products, MHC Class II Products and Combination Products sold by Licensee, Affiliates
and Sublicensees in each country, total billings for such Licensed Products, Know-How Products, MHC Class II Products and Combination
Products, the values of A and B used to calculate the Net Sales and Sublicensee Net Sales of Combination Products, deductions applicable
to determine the Net Sales and Sublicensee Net Sales thereof, the amount of Net Sales and Sublicensee Net Sales realized by Licensee
and Affiliates and Sublicensees, the amount of Net Proceeds realized by Licensee, the amount of any deduction and a detailed listing
thereof, and the total payment due from Licensee to Licensor (the "Royalty Report"). Such Royalty Report shall
be signed by an officer of Licensee.

 

		7.04	Licensee and Affiliates shall maintain complete and accurate books of account and records showing Net Sales, Sublicensee Net
Sales and Net Proceeds. Such books and records of Licensee and Affiliates shall be open to inspection, in confidence, during usual
business hours, upon at least ten (10) business days prior notice to Licensee, by an independent certified public accountant appointed
by Licensor on behalf of Licensor, who has entered into a written agreement of confidentiality with Licensor which is no less protective
of Licensee’s Confidential Information than the provisions of Section 5.03 hereof and to whom Licensee has no reasonable
objection, for five (5) years after the calendar year to which they pertain, for the purpose of verifying the accuracy of the payments
made to Licensor by Licensee pursuant to this Agreement. Licensee will use commercially reasonable efforts to require any Sublicensees
hereunder to maintain such books and allow such inspection by licensee and shall, on request, disclose such information, if available
to Licensee, to Licensor as part of such inspection. Inspection shall be at Licensor’s sole expense and reasonably limited
to those matters related to Licensee’s payment obligations under this Agreement and shall take place not more than once per
calendar year. Any underpayment revealed by any inspection, plus interest on the underpayment amount at the rate of One and One-Half
Percent (1.5%) per month or Two Hundred Fifty Dollars (US$250), whichever is greater, shall be promptly paid by Licensee to Licensor.
Further, if any inspection reveals an underpayment to Licensor of Ten Percent (10%) or greater, then the cost of the inspection
shall be paid by Licensee.

 

    	 	- 17 -	 

     

    

 

		8.	Infringement

 

		8.01	Licensee shall have the right, in its sole discretion and its expense, to initiate legal proceedings on its behalf or in Licenser’s
name, if necessary, against any infringer, or potential infringer, of an Agreement Patent who imports, makes, uses, sells or offers
to sell products in the Field. Licensee shall notify Licensor of its intention to initiate such proceedings at least thirty (30)
days prior to commencement thereof. Any settlement or recovery received from any such proceeding shall be divided [***] to Licensee
and [***] to Licensor after Licensee deducts from any such settlement or recovery its actual counsel fees and out-of-pocket expenses
relating to any such legal proceeding. If Licensee decides not to initiate legal proceedings against any such infringer, Licensee
shall notify Licensor in writing of such decision, then Licensor shall have the right to initiate such legal proceedings. Any settlement
or recovery received from any such proceeding initiated by Licensor shall be divided [***] to Licensor and [***] to Licensee after
Licensor deducts from any such settlement or recovery its actual counsel fees and out-of-pocket expenses relating to any such legal
proceeding.

 

		8.02	In the event that either party initiates or carries on legal proceedings to enforce any Agreement Patent against an alleged
infringer, the other party shall fully cooperate with and supply all assistance reasonably requested at the expense of the party
requesting such assistance. Further, the other party, at its expense, shall have the right to be represented by counsel of its
choice in any such proceeding, However, if Licensee initiates legal proceedings in Licensor's name, Licensee shall reimburse Licensor
for any reasonable out of pocket counsel fees of Licensor associated with the legal proceedings. The party who initiates or carries
on the legal proceedings shall have the sole right to conduct such proceedings provided, however, that such party shall consult
with the other party to this Agreement prior to entering into any settlement thereof.

 

    	 	- 18 -	 

     

    

 

		9.	Prohibition on Use of Names: No Publicity

 

		9.01	Neither party to this Agreement shall use the name of the other party without the other party's prior written consent, except
if the use of such name is required by law, regulation, federal securities law, or judicial order, in which event the party intending
to make such announcement will promptly inform the other party, prior to any such required use. Neither party to this Agreement
will make any public announcement regarding the existence of this Agreement and/or the collaboration hereunder without obtaining
the prior written consent of the other party, except if such announcement is required by law, regulation, federal securities law
or judicial order, in which event the party intending to make such announcement will promptly inform the other party prior to any
such required announcement.

 

		10.	Term and Termination

 

		10.01	Unless terminated earlier under other provisions hereof, this Agreement will expire upon the expiration of Licensee's
                                                                                                 last obligation to pay royalties on Net Sales and/or Net Proceeds and/or Sublicensee Net Sales to Licensor pursuant to
                                                                                                 Section 6.01. Royalties on Net Sales for Know-How Products shall be due for the longer of [***] from first sale of such
                                                                                                 product in each country or for the duration of any market exclusivity period granted by a regulatory agency for such product.
                                                                                                 Royalties on Sublicensee Net Sales for Know-How Products shall be due for the longer of [***] from first sale of such product
                                                                                                 in each country or for so long as the Sublicensee agrees to pay such royalties. Upon termination or expiration of this
                                                                                                 Agreement for any reason, Section 1, 5, 6.05, 7, 8, 9, 10.07 through 10.09, 11, 12.01 through 12.10, 12.13, 12.16 and 13
                                                                                                 shall survive and all payment obligations under Sections 3 and 6.01-6.04 hereof accrued as of the termination date shall be
                                                                                                 paid by Licensee within thirty (30) days of such termination or expiration.

 

		10.02	Licensee may terminate this Agreement and the licenses granted hereunder by giving notice to Licensor sixty (60) days prior
to such termination. Upon such termination, Licensee shall not use Agreement Patents or Know-How for any purpose and all of Licensee's
rights in Agreement Patents and Know-How shall be terminated.

 

    	 	- 19 -	 

     

    

 

		10.03	If either Licensor or Licensee defaults on or breaches any condition of this Agreement, the aggrieved party may serve notice
upon the other party of the alleged default or breach, which notice shall state with particularity the alleged breach. If such
default or breach is not remedied within sixty (60) days from the date of such notice and the alleged breaching party has not requested
the alternative dispute resolution procedure set forth below, then the aggrieved party may at its election terminate this Agreement
by providing fifteen (15) days written notice. Any failure to terminate hereunder shall not be construed as a waiver by the aggrieved
party of its right to terminate for future defaults or breaches. Licensee's damages for any breach of this Agreement by Licensor
will be limited to the amount paid by Licensee to Licensor under this Agreement and a reduction or suspension of the payment obligations
of Licensee hereunder Upon termination of this Agreement by Licensor pursuant to this Section 10.03, the licenses granted by Licensor
to Licensee shall terminate and Licensee shall not use Agreement Patents or Know-How for any purpose and all of Licensee's rights
in Agreement Patents and Know-How shall be terminated.

 

In the event that, within thirty (30) days from the
date of a notice of breach, the alleged breaching party (1) disputes in good faith the alleged breach, (ii) provides a detailed
explanation of why it believes the alleged breach has not occurred, and (iii) requests alternative dispute resolution, then the
party representatives, e.g., CEO of Cue and Director, Office of Biotechnology, with authority to settle the dispute shall meet
within thirty (30) days at a mutually agreeable time and place and attempt in good faith to amicably resolve the dispute. If the
parties fail to resolve the dispute through such meeting, then the aggrieved party may at its election terminate this Agreement
by providing fifteen (15) days written notice.

 

		10.04	This Agreement sets forth a license to intellectual property rights. To the extent permitted by applicable law (including,
but not limited to, 11 U.S.C. Section 365) either party may terminate this Agreement immediately by written notice to the other
upon (i) the institution by such party of insolvency, receivership or bankruptcy proceedings or any other act of bankruptcy or
proceedings for the settlement of its debts; (ii) the institution of such proceedings against such party, which is not dismissed
or otherwise resolved in its favor within ninety (90) days thereafter; or (iii) such party making a general assignment for the
benefit of creditors.

 

		10.05	If Licensee is convicted of a felony under the Federal Food, Drug and Cosmetic Act, as amended from time to time, relating
to the manufacture, use or sale of Licensed Products, Know-How Products and/or MHC Class II Products or a felony involving moral
turpitude relating to the manufacture, use or sale of Licensed Products, Know-How Products and/or MHC Class II Products, Licensor
may, at its election, terminate this Agreement by notice to Licensee. Upon termination of this Agreement by Licensor pursuant to
this Section 10.05, the licenses granted by Licensor to Licensee shall terminate and Licensee shall not use Agreement Patents or
Know-How for any purpose and all of Licensee’s rights in Agreement Patents shall be terminated, provided that Licensee shall
have the right to sell off existing inventory of Licensed Products, Know-How Products and MHC Class II Products for up to sixty
(60) days following such termination.

 

    	 	- 20 -	 

     

    

 

		10.06	Notwithstanding the provisions of Section 10.03 hereof, should Licensee fail to pay Licensor any sum due and payable under
this Agreement on thirty (30) days written notice, Licensor may, at its election, terminate this Agreement, unless Licensee pays
Licensor within forty-five (45) days of notice of non-payment all delinquent sums together with interest due and unpaid. Upon termination
of this Agreement by Licensor pursuant to this Section 10.06, the licenses granted by Licensor to Licensee shall terminate and
Licensee shall not use Agreement Patents or Know-How for any purpose and all of Licensee’s rights in Agreement Patents and
Know-How shall be terminated.

 

		10.07	Termination of this Agreement by Licensee or Licensor shall not prejudice the rights of either party accruing herein. Notwithstanding
any provision herein to the contrary, no termination of this Agreement shall be construed as a termination of any valid sublicense
of any Sublicensee hereunder, and thereafter each such Sublicensee shall be considered a direct licensee of Licensor, provided
that (i) such Sublicensee is not in material breach of its sublicense agreement with Licensee, and (ii) such Sublicensee agrees
in writing to assume all applicable obligations of Licensee under this Agreement.

 

    	 	- 21 -	 

     

    

 

		10.08	If Licensee terminates this Agreement pursuant to Section 10.02, or if Licensor terminates this Agreement pursuant to Sections
10.03, 10.04, 10.05 or 10.06 of this Agreement, and if no sublicenses granted pursuant to Section 4.01 are in effect at the time
of such termination, then Licensee shall, upon such termination, grant a royalty-free, non-exclusive license to Licensor in and
to any Dependent Patents and Dependent Know-How (as defined below) developed by or for Licensee or Affiliates during the term of
this Agreement for no additional consideration, and shall, within thirty (30) days of termination, provide copies of all documents
and other materials embodying Dependent Know-How to Licensor. As used in this Section 10.08, the term "Dependent Patents"
means any U.S. or foreign patent application or patent which claims an invention the practice of which would infringe a claim of
a patent or patent application of the Agreement Patents or the practice of which results in a product covered by a claim of a patent
or patent application of Agreement Patents. "Dependent Know-How" means confidential information, including clinical
trial information, the practical application of which would infringe a claim of a patent or patent application of Agreement Patents,
or which results in a product covered by a claim of a patent or patent application of Agreement Patents. Licensee agrees to take
all actions and execute any and all documents reasonably requested by Licensor to effectuate the terms of this Section 10.08. During
the time period between notice of termination and the effective date of termination, Licensee will take whatever actions are necessary
to prevent any Dependent Patent from becoming abandoned or canceled. If Licensee terminates this Agreement pursuant to Section
10.02, or if Licensor terminates this Agreement pursuant to Sections 10.03, 10.04, 10.05 or 10.06 of this Agreement, and if no
sublicenses granted pursuant to Section 4.01 are in effect at the time of such termination, then Licensee shall also grant Licensor
(and/or Licensor's designee) a right of reference with respect to any investigation performed by or on behalf of Licensee in connection
with the Agreement - i.e., the authority to rely upon and otherwise use said investigation for the purpose of obtaining FDA approval
of an application for marketing clearance and/or approval, including without limitation, the ability to make available the underlying
raw data from the investigation for FDA audit, if necessary. In the event that one or more sublicenses granted pursuant to Section
4,01 are in effect at the time of such termination, then Licensor shall receive no rights in and to any such Dependent Patents
and Dependent Know-How, right of reference, or any other property of Licensee for as long as any direct license(s) between Licensor
and such sublicensee(s) provided in Section 10.07 remain in effect. If Licensee terminates this Agreement pursuant to Section 10.02,
or if Licensor terminates this Agreement pursuant to Sections 10.03, 10.04, 10.05 or 10.06 of this Agreement, and sublicenses granted
pursuant to Section 4.01 are in effect at the time of such termination, then the provisions of this paragraph shall be stayed for
the duration of the sublicenses, provided however, that such sublicensees have licenses under Dependent Patents and Dependent Know-How
from Licensee.

  

		10.09	If Licensee terminates this Agreement pursuant to Section 10.02 or 10.03, or if Licensor terminates this Agreement pursuant
to Sections 10.03, 10.04, 10.05 or 10.06 of this Agreement, Licensee shall submit a final Royalty Report to Licensor and any payments
and patent costs due to Licensor hereunder as of the date of termination shall be payable within thirty (30) days of the date of
termination. In addition, within ten (10) days of notice of such termination, Licensee shall provide Licensor with a report showing
the status of all Dependent Patents, including, without limitation, a list of all countries where Dependent Patents have been filed
and a list of all actions which must be taken with respect to the Dependent Patents and relevant due dates.

 

    	 	- 22 -	 

     

    

 

		11.	Amendment and Assignment

 

		11.01	This Agreement sets forth the entire understanding between the parties pertaining to the subject matter hereof and supersedes
and replaces all prior agreements between the parties, including, without limitation, the Original License.

 

		11.02	Except as otherwise provided herein, this Agreement may not be amended, supplemented or otherwise modified, except by an instrument
in writing signed by all parties.

 

		11.03	Without the prior written approval of the other party, which approval shall not be unreasonably withheld, no party may assign
this Agreement except that this Agreement may be assigned to an entity acquiring substantially all of such party’s business
to which this Agreement relates, or in the event of a merger, consolidation, change in control or similar transaction of such party.
Any attempted assignment in contravention of this Section 11.03 shall be null and void.

 

		12.	Miscellaneous Provisions

 

		12.01	This Agreement shall be construed and the rights of the parties governed in accordance with the laws of the State of New York,
excluding its law of conflict of laws. Any dispute or issue arising hereunder, including any alleged breach by any party, shall
be heard, determined and resolved by an action commenced first in federal courts in New York, New York, which the parties hereby
agree shall have proper jurisdiction and venue over the issues and the parties or in the state courts in New York, New York, only
if the federal courts do not have subject matter jurisdiction. Licensor and Licensee hereby agree to submit to the jurisdiction
of the state or federal courts in New York and waive the right to make any objection based on jurisdiction or venue. The New York
courts shall have the right to grant all relief to which Licensor and Licensee are or shall be entitled hereunder, including all
equitable relief as the Court may deem appropriate.

 

		12.02	This Agreement has been prepared jointly.

 

		12.03	If any term or provision of this Agreement or the application thereof to any person or circumstance shall to any extent be
invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable shall not be affected thereby and each term and provision of this
Agreement shall be valid and enforced to the fullest extent permitted by law.

 

    	 	- 23 -	 

     

    

 

		12.04	Licensee agrees to indemnify Licensor and its current or former directors, governing board members, trustees, officers, faculty,
medical and professional staff, employees, students and agents and their respective successors, heirs and assigns (Licensor and
each such person being the "Indemnified Parties") for the cost of defense and for damages awarded and losses and
liabilities incurred, if any, as a result of any third party claims, liabilities, suits or judgments based on or arising out of
the research, development, marketing, manufacture, sale and/or provision of Licensed Products, Know-How Products and/or MHC Class
II Products by Licensee, Affiliates and Sublicensees, and/or the licenses granted under this Agreement, or otherwise related to
the conduct of Licensee’s, Affiliates’ or Sublicensees’ business, so long as such claims, liabilities, suits,
or judgments are not solely attributable to grossly negligent or intentionally wrongful acts or omissions by the Indemnified Parties.
This indemnity is conditioned upon Licensor’s obligation to: (i) advise Licensee of any claim or lawsuit, in writing promptly
after Licensor or the Indemnified Party has received notice of said claim or lawsuit, (ii) assist Licensee and its representatives,
at Licensee’s expense, in the investigation and defense of any lawsuit and/or claim for which indemnification is provided,
and (iii) permit Licensee to control the defense of such claim or lawsuit for which indemnification is provided.

 

		12.05	Nothing in this Agreement is or shall be construed as:

 

		(a)	A warranty or representation by Licensor that anything made or used by Licensee under any license granted in this Agreement
is or will be free from infringement of patents, copyrights, and other rights of third parties; or

 

		(b)	Granting by implication, estoppel, or otherwise any license, right or interest other than as expressly set forth herein.

 

		12.06	Except as expressly set forth in this Agreement, the parties MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF ANY KIND,
EITHER EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, STATUTE OR OTHERWISE, AND THE PARTIES SPECIFICALLY DISCLAIM ANY
IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTY OF NON-INFRINGEMENT. IN ADDITION, NEITHER
PARTY SHALL BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY
AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

    	 	- 24 -	 

     

    

 

		12.07	Licensor and Licensee represent and warrant that, to the best of their knowledge, as of the Original Effective Date:

 

		(a)	they have the legal right and authority to enter into this Agreement and to perform all of their obligations hereunder;

 

		(b)	when executed by all parties, this Agreement will constitute a valid and legally binding obligation and shall be enforceable
in accordance with its terms; and

 

		(c)	there are no existing or threatened actions, suits or claims pending or threatened against it that may affect the performance
of its obligations under the Agreement.

 

		12.08	Licensor represents and warrants that:

 

		(a)	Licensor owns all right, title and interest in, to and under the Agreement Patents by virtue of assignment from the Investigators;

 

		(b)	Licensor has the legal power and authority to extend the rights granted to Licensee in this Agreement;

 

		(c)	Subject to the rights, if any, of the U.S. government, Licensor has not conveyed or transferred any intellectual property rights
under the Agreement Patents to any person other than Licensee.

 

		(d)	to the best of Licensor’s knowledge, as of the Original Effective Date, subject to any rights of the government as discussed
in Section 2.01, the Agreement Patents are free and clear of all liens and encumbrances; and

 

		(e)	other than U.S. Patent Application No. 13/085,081, as of the Original Effective Date, Licensor’s Investigator, Steven
C. Almo is not listed as an inventor on any patents or patent applications or “invention disclosures” by Mr. Almo made
to Licensor relevant to the subject matter disclosed and claimed in the Agreement Patents.

 

		12.09	Licensee represents and warrants that it has not relied on any information provided by Licensor, Licensor’s current or
former employees or the Investigators and has conducted its own due diligence investigation to its satisfaction prior to entering
into this Agreement.

 

    	 	- 25 -	 

     

    

 

		12.10	Licensee represents and warrants that before Licensee, or an Affiliate or a Sublicensee makes any sales of Licensed Products,
Know-How Products and/or MHC Class II Products or performs or causes any third party to perform any clinical trials or tests in
human subjects involving Licensed Products, Know-How Products and/or MHC Class II Products, Licensee or Affiliates or Sublicensees
will acquire and maintain in each country in which Licensee or Affiliates or Sublicensees shall test or sell Licensed Products,
Know-How Products and/or MHC Class II Products, appropriate insurance coverage reasonably acceptable to Licensor, but providing
coverage in respect of Licensed Products, Know-How Products and MHC Class II Products in an amount no less than [***] per claim
and [***] in the aggregate for all claims. Licensee or Affiliates will not perform, or cause any third party to perform, any clinical
trials or any tests in human subjects involving Licensed Products, Know-How Products and/or MHC Class II Products unless and until
it obtains all required regulatory approvals with respect to Licensed Products, Know-How Products and/or MHC Class II Products
in the applicable countries. Prior to instituting any clinical trials or any tests in human subjects, or sale of any Licensed Product,
Know-How Product and/or WIC Class II Product, Licensee shall provide evidence of such insurance to Licensor. If Licensor determines
that such insurance is not reasonably appropriate, it shall so advise Licensee and Licensee shall delay such trials, tests or sales
until the parties mutually agree that reasonably appropriate coverage is in place. Licensor shall be listed as an additional insured
in Licensee’s insurance policies. If such insurance is underwritten on a ‘claims made’ basis, Licensee agrees
that any change in underwriters during the term of this Agreement will require the purchase of 'prior acts' coverage to ensure
that coverage will be continuous throughout the term of this Agreement.

 

		(a)	The minimum amounts of insurance coverage required under this Section shall not be construed to create a limit of Licensee's
liability with respect to its indemnification under Section 12.04 of this Agreement.

 

		(b)	Licensee shall provide Licensor with written evidence of such insurance upon request of Licensor. Licensee shall provide Licensor
with written notice at least sixty (60) days prior to the cancellation, non-renewal or material change in such insurance; if Licensee
does not obtain replacement insurance providing comparable coverage within such sixty (60) day period, Licensor shall have the
right to terminate this Agreement effective at the end of such sixty (60) day period without notice or any additional waiting periods.

 

		(c)	Licensee shall maintain such comprehensive general liability insurance beyond the expiration or termination of this Agreement
during (I) the period that any product, process or service, relating to, or developed pursuant to, this Agreement is being commercially
distributed or sold or tested in clinical trials by Licensee or by a Sublicensee, Affiliate, optionee or agent of Licensee and
(ii) a reasonable period after the period referred to in (i) above which in no event shall be less than fifteen (15) years.

 

    	 	- 26 -	 

     

    

 

		12.11	Licensee shall exercise its rights and perform its obligations hereunder in compliance with all applicable laws and regulations.
In particular, it is understood and acknowledged that the transfer of certain commodities and technical data is subject to United
States laws and regulations controlling the export of such commodities and technical data, including all Export Administration
Regulations of the United States Department of Commerce. These laws and regulations, among other things, prohibit or require a
license for the export of certain types of technical data to certain specified countries. Licensee hereby agrees and gives written
assurance that it will comply with all United States laws and regulations controlling the export of commodities and technical data,
that it will be solely responsible for any violation of such by Licensee or Affiliates or Sublicensees, and that it will defend
and hold Licensor harmless in the event of any legal action of any nature occasioned by such violation.

 

		12.12	Licensee agrees (i) to obtain all regulatory approvals required for the manufacture and sale of Licensed Products, Know-How
Products and MHC Class II Products prior to marketing or selling any such Licensed Products, Know-How Products and/or MHC Class
II Products and (ii) to utilize legally appropriate patent marking on such Licensed Products. Licensee agrees to register or record
this Agreement as is required by law or regulation in any country where the license is in effect.

 

		12.13	Licensee agrees that any Licensed Products for use or sale in the United States will be manufactured substantially in the United
States.

 

		12.14	Any tax required to be withheld under the laws of any jurisdiction on royalties payable to Licensor by Licensee under this
Agreement will be promptly paid by Licensee for and on behalf of Licensor to the appropriate governmental authority, and Licensee
will furnish Licensor with proof of payment of the tax together with official or other appropriate evidence issued by the competent
governmental authority sufficient to enable Licensor to support a claim for tax credit with respect to any sum so withheld. Any
tax required to be withheld on payments by Licensee to Licensor will be an expense of and be borne solely by Licensor, and Licensee’s
royalty payment(s) to Licensor following the withholding of the tax will be decreased by the amount of such tax withholding. Licensee
will cooperate with Licensor in the event Licensor elects to assert, at its own expense, exemption from any tax.

 

    	 	- 27 -	 

     

    

 

		12.15	Licensee, by itself or through an Affiliate or Sublicensee, will meet all of the following due diligence requirements:

 

		(a)	Provide a research and development plan within forty-five (45) days of signing and update the research and development plan
annually. Each update shall include not only a research and development plan for the upcoming twelve (12) months, but also, a summary
of the activity for the past twelve months, including (i) all research and development; (ii) all fundraising efforts and the results
of those efforts; and (iii) all diligence requirements and milestones achieved; and;

 

		(b)	Submit an investigational new drug application to the FDA for a Licensed Product within [***] of the Original Effective Date;
and

 

		(c)	Initiate an FDA approved Phase I clinical trial for a Licensed Product within [***] of the Original Effective Date; and

 

		(d)	Initiate an FDA approved Phase II clinical trial for a Licensed Product within [***] of the Original Effective Date; and

 

		(e)	Initiate an FDA approved Phase Ill clinical trial for a Licensed Product within [***] of the Original Effective Date.

 

		(f)	Submit an application for FDA approval to market and sell a Licensed Product within [***] of the Original Effective Date;

 

		(g)	Have a first commercial sale of a Licensed Product within [***] of the Original Effective Date.

 

		(h)	Spend a minimum of Two Hundred and Fifty Thousand Dollars (US$250,000) per year on product development until the first commercial sale of the first Licensed Product.

 

		12.16	Licensee shall have raised the following aggregate amounts in cash from the sale of its capital stock and Convertible Securities
on or before the dates set forth below.

 

		(a)	[***] by the first anniversary of the Original Effective Date;

 

		(b)	[***] by the third anniversary of the Original Effective Date; and

 

		(c)	[***] by the fifth anniversary of the Original Effective Date.

 

    	 	- 28 -	 

     

    

 

		12.17	If any one of the due diligence requirements in Section 12.15 and/or 12.16 is not met, Licensor shall have the right to terminate
pursuant to Section 10.03 and all rights will revert to Licensor, after providing Licensee with written notice of failure to meet
such requirements and thirty (30) days from the date of such written notice to cure such failure. Notwithstanding the foregoing,
in the event that Licensee provides Licensor with prior written notice that Licensee, despite its best efforts, is unable to fulfill
the due diligence requirement for Section 12.16(d), (e), (f), (g) and/or (h), the deadline for fulfilling such requirement shall
be extended by [***]. No further extensions shall be granted for such diligence requirement without Einstein’s prior written
consent. In the event Licensee is unable to fulfill a due diligence requirement for Section 12.16(d), (e), (f), (g) or (h) after
an extension has been granted, Licensor shall have the right to terminate pursuant to Section 10.03 and all rights will revert
to Licensor, after providing Licensee with written notice of failure to meet such requirements and thirty (30) days from the date
of such written notice to cure such failure.

 

		12.18	In the event Licensee (or any entity acting under Licensee’s control or on its behalf) initiates any proceeding or otherwise
asserts any claim challenging the validity or enforceability of a claim of an Agreement Patent in any court, administrative agency
or other forum other than as a defense to an action initiated by the Licensor (“Challenge”), the royalty rates
set forth in Section 6.01 and the license maintenance fees set forth in Section 6.02 shall increase by [***] during the pendency
of such Challenge. Should the outcome of such Challenge determine that any challenged claim of an Agreement Patent is valid, Licensee
(i) shall thereafter, and for the remaining term of this Agreement, continue to pay the royalty rate set forth in Section 6.01
and the license maintenance fees set forth in Section 6.02 increased by [***]; and (ii) agrees to pay all costs and expenses (including
actual outside attorneys' fees) incurred by Licensor in connection with defending the Challenge. Should the outcome of such Challenge
determine that the challenged claim or claims of an Agreement Patent are invalid, Licensor shall be responsible for paying its
own costs and expenses in connection with defending the Challenge and this Agreement shall not be construed otherwise to create
a Valid Claim by contract.

 

		12.19	Licensee will promptly notify Licensor in writing if Licensee or any Sublicensees ceases to be a small entity (as defined by
the United States Patent and Trademark Office)

 

		12.20	This Agreement may be signed in one or more counterparts, each of which shall be deemed an original and all of which shall
be deemed one and the same document. Counterparts may be signed and delivered by facsimile or PDF file, each of which shall be
binding when received by the applicable party.

 

    	 	- 29 -	 

     

    

 

		12.21	Neither party shall be liable for any failure of or delay in the performance of this Agreement for the period that such failure
or delay is due to causes beyond its reasonable control, including but not limited to acts of god, war, strikes or labor disputes,
embargoes, action or inaction of a government agency or any other force majeure event.

 

		13.	Notices

 

		13.01	Any correspondence, document, notice or report required or permitted hereunder shall be given in writing, and shall be deemed
to have been properly given and effective upon delivery, by registered or certified mail, return receipt requested, or by facsimile
with proof of receipt and a confirmation copy sent by overnight courier, or by email with proof of receipt and a confirmation copy
sent by overnight courier, or by overnight courier to the following addresses or to such other address that a party may give by
written notice to all parties:

 

To Licensee: 

 

Cue Biopharma Inc.

c/o MDB Capital Group LLC

401 Wilshire Blvd, Suite 1020

Santa Monica, CA 90401

 

with copies to:

 

Scott E. Bartel, Esq.

Locke Lord LLP

500 Capitol Mall, Suite 1800

Sacramento, CA 95814

sbartel@lockelord.com

 

To Licensor: 

 

Albert Einstein College of Medicine,
Inc.

 

1300 Morris Park Avenue

Bronx, New York 10461

Attention: Office of Biotechnology

John.Harb@einstein.yu.edu

 

    	 	- 30 -	 

     

    

 

with copies to:

 

Kenneth P. George, Esq.

Amster, Rothstein & Ebenstein
LLP

90 Park Avenue

New York, NY 10016

kgeorge@arelaw.com

 

    	 	- 31 -	 

     

    

  

IN WITNESS WHEREOF, the parties have entered
into this Agreement effective as of the day and year first above written.

  

	 	 	ALBERT EINSTEIN COLLEGE OF MEDICINE, INC.
	WITNESS	 	 
	 	 	/s/ John L. Harb
	 	 	Name: John L. Harb
	 	 	Title Assistant Dean

 

	Date:	 	 	Date: 	July 31, 2017

 

	 	 	CUE BIOPHARMA INC.
	WITNESS	 	 
	 	 	/s/ Daniel R. Passeri
	 	 	Name Daniel R. Passeri
	 	 	Title President & CEO

 

	Date:	 	 	Date: 	July 31, 2017

 

	AGREED TO AND ACCEPTED BY:	 	 
	 	 	 
	/s/ Steven C. Almo	 	 

 

	Date: 	July 31, 2017	 	 

 

    	 	- 32 -	 

     

    

 

APPENDIX A - Agreement Patents

 

(1)         "Methods for
high throughput receptor-ligand identification," Application No. PCT/US13/73275 (Einstein Invention Disclosure No. D-972;
ARE Client Matter No. 96700/2061; Inventors: Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich, Sarah C. Garrett-Thomson and
James D. Love) (Assignee: Einstein) filed nationally in the United States, Australia, Brazil, Canada, China, EPO, Hong Kong, Israel,
India, Japan, South Korea and Singapore;

 

(2)         "Cellular
platform for rapid and comprehensive T-cell immunomonitoring," Application No. 61/929,651 (Einstein Invention Disclosure No.
D-1046; ARE Client Matter No. 96700/2095; Inventors: Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich and Rodolfo J. Chaparro)
(Assignee: Einstein);

 

(3)         "SYNTAC Fc
fusion constructs and uses thereof," Application No. 62/013,715 (Einstein Invention Disclosure No. D-1073; ARE Client Matter
No. 96700/2138; Inventors: Steven C. Alma, Ronald D. Seidel, Rodolfo J. Chaparro, Brandan S. Hillerich and Scott J. Garforth) (Assignee:
Einstein); and

 

(4)         "VARIANT PD-L1
POLYPEPTIDES, T-CELL MODULATORY MULTIMERIC POLYPEPTIDES, AND METHODS OF USE THEREOF" (Application No. 62/338,128); (Case No.
C-00001209; ARE Client Matter No. 96700/2347; Inventors: Steven C. Almo, Sarah C. Garrett-Thomson and Ronald D. Seidel (Assignee:
Einstein).

 

(5)         "Methods for
high throughput receptor-ligand identification," Application No. 61/735,791, (Einstein Invention Disclosure No. D-972; ARE
Client Matter No. 96700/1928; Inventors: Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich, Sarah C. Garrett-Thomson and James
D. Love) (Assignee: Einstein);

 

(6)         "Methods for
high throughput receptor-ligand identification," Application No. 61/833,588, (Einstein Invention Disclosure No. D-972; ARE
Client Matter No. 96700/1961; Inventors: Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich, Sarah C. Garrett-Thomson and James
D. Love) (Assignee: Einstein);

 

(7)         "Cellular
platform for rapid and comprehensive T-cell immunomonitoring," Application No. PCT/US15/012160 (Einstein Invention Disclosure
No. D-1046; ARE Client Matter No. 96700/2199; Inventors: Steven C. Almo, Ronald D. Seidel, Brandan S. Hillerich and Rodolfo J.
Chaparro) (Assignee: Einstein) filed nationally in the United States, Australia, Brazil, Canada, China, EPO, Israel, India, Japan,
South Korea and Singapore;

 

    	 	- 33 -	 

     

    

 

(8)         "SYNTAC Fc
fusion constructs and uses thereof," Application No. PCT/US15/035777 (Einstein Invention Disclosure No. D-1073; ARE Client
Matter No. 96700/2236; Inventors: Steven C. Almo, Ronald D. Seidel, Rodolfo J. Chaparro, Brandan S. Hillerich and Scott J. Garforth)
(Assignee: Einstein) filed nationally in the United States, Australia, Brazil, Canada, China, EPO, Taiwan, Israel, India, Japan,
South Korea and Singapore;

 

(9)         "VARIANT PD-LI
POLYPEPTIDES, T-CELL MODULATORY MULTIMERIC POLYPEPTIDES, AND METHODS OF USE THEREOF," Application No. PCT/US2017/33042; (Einstein
Invention Disclosure No. unknown; ARE Client Matter No. 96700/2508; Inventors: Steven C. Almo, Sarah C. Garrett-Thomson and Ronald
D. Seidel) (Assignee: Einstein).

 

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