Document:

EX-10.26

 Exhibit 10.26 

Silicon Valley Bank 

U.S. Small Business Administration 

Paycheck Protection Program 

Note 
  

					
	 SBA Loan No.
	  	 
	 	 
	 	  	6285467101
	 	 	
	
SBA Loan Name 
	  	Borrower Legal Name	  	Yumanity Therapeutics Inc
	  	DBA	  	
	 	 
	
Date
	  	 
	 	 
	
Loan Amount
	  	$ 1123067
	 	 
	
Interest Rate
	  	1.0% per annum
	 	 
	
Borrower
	  	Yumanity Therapeutics Inc
	 	 
	
Operating Company
	  	Not applicable
	 	 
	
Lender
	  	Silicon Valley Bank

  
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SVB Confidential 

 “Per Annum” means for a year deemed to be comprised of 360 days. 

“SBA” means the Small Business Administration, an Agency of the United States of America. 

1. PAYMENT TERMS: Borrower must make all payments at the place Lender designates. The payment terms for this Note are: 

 

	A.	 Conditions Precedent to Disbursement of Loan Proceeds. 

Before the funding of the Loan, the following conditions must be satisfied: 

 

	 	1.	 Lender has approved the request for the Loan. 

 

	 	2.	 Lender has received approval from SBA to fund the Loan. 

 

	B.	 No Payments During Deferral Period. There shall be no payments due by Borrower during the six-month period beginning on the date of this Note (the “Deferral Period”). However, during the Deferral Period interest will accrue at the Interest Rate on the unpaid principal balance computed on the
basis of the actual number of days elapsed in a year of 360 days. 

  

	C.	 Principal and Interest Payments. Commencing one month after the expiration of the Deferral Period, and
continuing on the same day of each month thereafter until the Maturity Date, Borrower shall pay to Lender monthly payments of principal and interest, each in such equal amount required to fully amortize the principal amount outstanding on the Note
on the last day of the Deferral Period by the Maturity Date. 

  

	D.	 Maturity Date. On the date which is twenty-four (24) months from the date of this Note (the
“Maturity Date”), Borrower shall pay to Lender any and all unpaid principal plus accrued and unpaid interest plus interest accrued during the Deferral Period. This Note will mature on the Maturity Date. 

 

	E.	 Not a Business Day. If any payment is due on a date for which there is no numerical equivalent in a
particular calendar month then it shall be due on the last day of such month. If any payment is due on a day that is a Saturday, Sunday or any other day on which California chartered banks are authorized to be closed, the payment will be made on the
next business day. 

  

	F.	 Payment Allocation. Payments shall be allocated among principal and interest at the discretion of Lender
unless otherwise agreed or required by applicable law (including the CARES Act). Notwithstanding, in the event the Loan, or any portion thereof, is forgiven pursuant to the Paycheck Protection Program under the federal CARES Act, the amount so
forgiven shall be applied to principal. 

  

	F.	 Prepayments. Borrower may prepay this Note at any time without payment of any penalty or premium.

  
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	G.	 Borrower Certifications. 

Borrower certifies to Lender as follows: 
  

	 	1.	 Current economic uncertainty makes this Loan necessary to support the ongoing operations of Borrower.

  

	 	2.	 Loan funds will be used by Borrower to retain its workers and maintain its payroll or make its mortgage
payments, lease payments, and utility payments. 

  

	 	3.	 For the period beginning on February 15, 2020 and ending on December 31, 2020, Borrower did not
receive, and agrees it will not apply for or receive, another loan under the Paycheck Protection Program. 

  

	 	4.	 Borrower was in operation on February 15, 2020 and (i) had employees for whom it paid salaries and
payroll taxes or (ii) paid independent contractors as reported on a 1099-Misc. 

  

	 	5.	 Borrower has reviewed and understands Sections 1102 and 1106 of the CARES Act and the related guidelines and
has completed the Application, including Borrower’s eligibility in conformity with those provisions. 

  

	 	6.	 Borrower has taken its “affiliates” (as defined by the SBA) into account when determining the number
of employees and the total amount of loans permitted under the Paycheck Protection Program. 

  

	 	7.	 Borrower is a small business concern or is otherwise eligible to receive a covered loan. 

 

	 	8.	 The person who has completed and signed the application, this Note and the Loan Documents has been validly
authorized by Borrower to enter into borrowings on behalf of Borrower. 

  

	H.	 Agreements. 

Borrower understands and agrees, and waives and releases Lender, its affiliates and their respective directors, officers, agents and employees, as follows:

  

	 	1.	 The Loan will be made under the SBA’s Paycheck Protection Program. Accordingly, this Note and the other
Loan Documents must be submitted to and approved by the SBA. There is limited funding available under the Paycheck Protection Program and accordingly, all applications submitted will not be approved by the SBA. 

 

	 	2.	 Lender is participating in the Payroll Protection Program to help businesses impacted by the economic impact
from COVID-19. However, Lender anticipates high volumes and there may be processing delays and system failures along with other issues that interfere with submission of Borrower’s application to SBA.
Lender does not represent or guarantee that it will submit the application while SBA funding remains available under the Payroll Protection Program or at all. Borrower hereby agrees that Lender is not responsible or liable to Borrower or any of its
affiliates (i) if the Lender does not submit Borrower’s application to the SBA until after the date that SBA stops approving 

  
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	 	applications under the Paycheck Protection Program, for any reason or (ii) if the application is not processed by Lender. Borrower forever releases and waives any claims against Lender, its affiliates and their
respective directors, officers, agents and employees concerning failure to obtain the Loan. This release and waiver applies to, but is not limited to, any claims concerning Lender’s (i) pace, manner or systems for processing or
prioritizing applications, or (ii) representations by Lender regarding the application process, the Paycheck Protection Program, or availability of funding. This agreement to release and waiver supersedes any prior communications,
understandings, agreements or communications on the issues set forth herein. 

  

	 	3.	 Forgiveness of the Loan is only available for principal that is used for the limited purposes that expressly
qualify for forgiveness under SBA requirements, and that to obtain forgiveness, Borrower must request forgiveness from the Lender, provide documentation in accordance with the SBA requirements, and certify that the amounts Borrower is requesting to
be forgiven qualify under those requirements. Borrower also understands that Borrower shall remain responsible under the Loan for any amounts not forgiven, and that interest payable under the Loan will not be forgiven, but that the SBA may pay the
Loan interest on forgiven amounts. 

  

	 	4.	 Forgiveness of the Loan is not automatic and Borrower must request forgiveness of the Loan from Lender.
Borrower is not relying on Lender for its understanding of the requirements for forgiveness such as eligible expenditures, necessary records/documentation, or possible reductions due to changes in number of employees or compensation. Borrower agrees
that will consult the SBA’s program materials and consult with its own counsel regarding the criteria forgiveness. 

  

	 	5.	 The Loan Documents are subject to review, and Borrower may not receive the Loan. The Loan also remains subject
to availability of funds under the SBA’s Payment Protection Program, and to the SBA issuing an SBA loan number. 

  

	 	6.	 Borrower’s liability under this Note will continue with respect to any amounts SBA may pay Bank based on
an SBA guarantee of this Note. Any agreement with Bank under which SBA may guarantee this Note does not create any third party rights or benefits for Borrower and, if SBA pays Bank under such an agreement, SBA or Bank may then seek recovery from
Borrower of amounts paid by SBA. 

  

	 	7.	 Lender reserves the right to modify the Note Amount based on documentation received from Borrower.

  

	 	8.	 Borrower’s execution of this Note has been duly authorized by all necessary actions of its governing body.
The person signing this Note is duly authorized to do so on behalf of Borrower. 

  

	 	9.	 This Note shall not be governed by any existing or future credit agreement or loan agreement with Lender. The
liabilities guaranteed pursuant to any existing or future guaranty in favor of Lender shall not include this Note. The liabilities secured by any existing or future security instrument in favor of Lender shall not include the Loan.

  
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	 	10.	 The proceeds of the Loan will be used to retain workers and maintain payroll or make mortgage interest
payments, lease payments, and utility payments, as specified under the Paycheck Protection Program Rule. Borrower understands that if the funds are knowingly used for unauthorized purposes, the federal government may hold Borrower legally liable,
such as for charges of fraud. 

 Electronic Execution of Loan Documents. 

The words “execution,” “signed,” “signature” and words of like import in this Note and any Loan Document shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping systems, as the case
may be, to the extent and as provided for in any applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act. 
  

	4.	 DEFAULT: 

Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower or Operating Company: 

 

	 	A.	 Fails to do anything required by this Note and other Loan Documents; 

 

	 	B.	 Defaults on any other loan with Lender; 

 

	 	C.	 Does not preserve, or account to Lender’s satisfaction for, any of the Collateral or its proceeds;

  

	 	D.	 Does not disclose, or anyone acting on their behalf does not disclose, any material fact to Lender or SBA;

  

	 	E.	 Makes, or anyone acting on their behalf makes, a materially false or misleading representation to Lender or
SBA; 

  

	 	F.	 Defaults on any loan or agreement with another creditor, if Lender believes the default may materially affect
Borrower’s ability to pay this Note; 

  

	 	G.	 Fails to pay any taxes when due; 

 

	 	H.	 Becomes the subject of a proceeding under any bankruptcy or insolvency law; 

 

	 	I.	 Has a receiver or liquidator appointed for any part of their business or property; 

 

	 	J.	 Makes an assignment for the benefit of creditors; 

 

	 	K.	 Has any adverse change in financial condition or business operation that Lender believes may materially affect
Borrower’s ability to pay this Note; 

  

	 	L.	 Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s
prior written consent; or 

  
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	 	M.	 Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s
ability to pay this Note. 

  

	5.	 LENDER’S RIGHTS IF THERE IS A DEFAULT. 

Without notice or demand and without giving up any of its rights, Lender may: 
  

	 	A.	 Require immediate payment of all amounts owing under this Note; 

 

	 	B.	 Collect all amounts owing from any Borrower or Guarantor; 

 

	 	C.	 File suit and obtain judgment. 

 

	 	D.	 Take possession of any Collateral; or 

 

	 	E.	 Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.

  

	6.	 LENDER’S GENERAL POWERS. 

Without notice and without Borrower’s consent, Lender may: 
  

	 	A.	 Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses;

  

	 	B.	 Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other Loan
Document, and preserve or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If
Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal balance; 

  

	 	C.	 Release anyone obligated to pay this Note; 

 

	 	D.	 Compromise, release, renew, extend or substitute any of the Collateral; and 

 

	 	E.	 Take any action necessary to protect the Collateral or collect amounts owing on this Note.

  

	7.	 WHEN FEDERAL LAW APPLIES; GOVERNING LAW; FORUM SELECTION. 

When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local
procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note,
Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law. 

  
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	8.	 SUCCESSORS AND ASSIGNS. 

Under this Note, Borrower and Operating Company includes its successors, and Lender includes its successors and assigns. 

 

	9.	 GENERAL PROVISIONS. 

  

	 	A.	 All individuals and entities signing this Note are jointly and severally liable. 

 

	 	B.	 Borrower waives all suretyship defenses. 

 

	 	C.	 Borrower must sign all documents necessary at any time to comply with the Loan Documents and to enable Lender
to acquire, perfect, or maintain Lender’s liens on Collateral. 

  

	 	D.	 Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender
may delay or forgo enforcing any of its rights without giving up any of them. 

  

	 	E.	 Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

  

	 	E.	 If any part of this Note is unenforceable, all other parts remain in effect. 

 

	 	F.	 To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including
presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any claim that Lender did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did not
obtain the fair market value of Collateral at a sale. 

  

	10.	 STATE-SPECIFIC PROVISIONS: 

If the SBA is not the holder, this Note shall be governed by and construed in accordance with the laws of the State of California where the main office of
Lender is located. MATTERS REGARDING INTEREST TO BE CHARGED BY LENDER AND THE EXPORTATION OF INTEREST SHALL BE GOVERNED BY FEDERAL LAW (INCLUDING WITHOUT LIMITATION 12 U.S.C. SECTIONS 85 AND 1831(u) AND THE LAW OF THE STATE OF CALIFORNIA. Borrower
agrees that any legal action or proceeding with respect to any of its obligations under this Note may be brought by Lender in any state or federal court located in the State of California, as Lender in its sole discretion may elect. Borrower submits
to and accepts in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of those courts. Borrower waives any claim that the State of California is not a convenient forum or the
proper venue for any such suit, action or proceeding. The extension of credit that is the subject of this Note is being made by Lender in California. 

  
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 11. BORROWER’S NAME(S) AND SIGNATURE(S). 

BORROWER CERTIFIES THAT THE INFORMATION PROVIDED IN THIS APPLICATION AND THE INFORMATION PROVIDED IN ALL SUPPORTING DOCUMENTS AND FORMS IS TRUE AND ACCURATE
IN ALL MATERIAL RESPECTS. BORROWER UNDERSTANDS THAT KNOWINGLY MAKING A FALSE STATEMENT TO OBTAIN A GUARANTEED LOAN FROM SBA IS PUNISHABLE UNDER THE LAW, INCLUDING UNDER 18 USC 1001 AND 3571 BY IMPRISONMENT OF NOT MORE THAN FIVE YEARS AND/OR A FINE
OF UP TO $250,000; UNDER 15 USC 645 BY IMPRISONMENT OF NOT MORE THAN TWO YEARS AND/OR A FINE OF NOT MORE THAN $5,000; AND, IF SUBMITTED TO A FEDERALLY INSURED INSTITUTION, UNDER 18 USC 1014 BY IMPRISONMENT OF NOT MORE THAN THIRTY YEARS AND/OR A FINE
OF NOT MORE THAN $1,000,000. 
 By signing below, each individual or entity becomes obligated under this Note as Borrower. 

Funds will be credited to your Deposit Account Number ending in: 
  

			
	BORROWER:
		
	By:	 	/s/Paulash Mohsen
		
	Name: 	 	Paulash Mohsen
		
	Title: 	 	Authorized Signer
		
	Date: 	 	April 24, 2020 

  
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SVB ConfidentialEX-10.27

 Exhibit 10.27 

THE WARRANT EVIDENCED HEREBY, AND THE SECURITIES ISSUABLE HEREUNDER, HAVE BEEN AND SHALL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR THE APPLICABLE STATE SECURITIES LAWS. THE WARRANT AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND SHALL NOT BE SOLD, TRANSFERRED, PLEDGED OR
HYPOTHECATED UNLESS THE PROPOSED DISPOSITION IS THE SUBJECT OF A CURRENTLY EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE
REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT AND SUCH STATE SECURITIES LAWS IN CONNECTION WITH SUCH DISPOSITION. 

THIS WARRANT, AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT, ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS SET FORTH IN THIS
WARRANT. 
 YUMANITY HOLDINGS, LLC 

COMMON UNIT WARRANT 

Original Issue Date: October 9, 2015 

Void After: 5 PM Pacific Time on October 9, 2025 

This Warrant Is Issued to 

ALEXANDRIA EQUITIES, LLC 
 (hereinafter called
the “Holder,” which term shall include the Holder’s permitted assigns) by Yumanity Holdings, LLC, a Delaware limited liability company (hereinafter referred to as the “Company”). This Common Unit Warrant
(“Warrant”) may be transferred by the Holder only in accordance with the provisions of Section 11. 
 This Warrant is being issued
pursuant to the terms of the Bridge Unit and Bridge Warrant Purchase Agreement, dated as of October 9, 2015, by and among the Company and the Holder, as amended, restated and/or otherwise modified from time to time. Capitalized terms not
otherwise defined herein shall have the meaning given to such terms in the Amended and Restated Operating Agreement of the Company, as amended, restated and/or otherwise modified from time to time (the “Operating Agreement”). 

The Company hereby certifies that, for value received, the Holder is entitled, subject to the terms and conditions set forth in this Warrant, to purchase from
the Company by exercising this Warrant, at any time on or after the closing of the Qualified Financing and in any event not after the Expiration Time, up to that number of Common Units equal to (i) 250,000 divided by (ii) the lowest per share
price at which each Qualified Financing Security (as defined in the Operating Agreement) is sold for cash in the next Qualified Financing, at an initial purchase price per Common Unit equal to the Bridge Conversion Price. The number of Common Units
and the purchase price thereof shall be adjusted or readjusted from time to time as provided in this Warrant (as so adjusted, the “Warrant Units” and the “Exercise Price”, respectively).“Expiration
Time” means 5pm Boston time on the tenth anniversary of the Effective Date. 

  
 1 

 1. Exercise of Warrant. The Holder may exercise this Warrant, in whole or in part
(except as to a fractional Common Unit), during the period beginning on the closing of the Qualified Financing and ending at the Expiration Time, by (i) delivering a subscription agreement, in the form attached hereto as
Exhibit A (the “Subscription Form”), duly executed by the Holder, specifying the number of Warrant Units to be issued to the Holder as a result of such exercise, (ii) surrendering this Warrant to the
Company, properly endorsed by the Holder (or if this Warrant has been destroyed, stolen or has otherwise been misplaced, by delivering to the Company an affidavit of loss duly executed by the Holder), and (iii) tendering payment for the Common
Units designated by the Subscription Form in lawful money of the United States in the form of cash, bank or certified check made payable to the order of the Company, or by wire transfer of immediately available funds, or in any combination thereof,
of the applicable Exercise Price as to which this Warrant is being exercised. 
 2. Net Exchange. The Holder may, in lieu of
exercising this Warrant pursuant to the terms of Section 1, elect to exchange this Warrant at any time beginning on the closing of the Qualified Financing and ending at the Expiration Time by delivering to the Company a written notice, in the
form attached hereto as Exhibit B (the “Exchange Notice”), duly executed by the Holder, specifying the number of Warrant Units it, he or she is requesting to be issued to the Holder as a result of such
exchange. The Holder shall thereupon be entitled to receive the number of Warrant Units equal to the product of (i) the number of Warrant Units issuable upon exercise of this Warrant (or, if only a portion of this Warrant is being exercised,
issuable upon the exercise of such portion) for cash, and (ii) a fraction, the numerator of which is the Fair Market Value at the time of such exercise minus the Exercise Price in effect at the time of such exercise, and the denominator
of which is the Fair Market Value at the time of such exercise, such number of Common Units so issuable upon such exchange to be rounded down to the nearest whole number of Common Units with any excess to be forfeited by the Holder. For all purposes
of this Warrant (other than Section 1 and this Section 2), any reference herein to the “exercise” of this Warrant shall be deemed to include a reference to the exchange of this Warrant for Common Units in accordance with the
terms of this Section 2. For purposes of this Section 2, “Fair Market Value” shall mean the price per Common Unit as determined in good faith by the Board of Directors or, if traded on a nationally recognized securities
exchange, the value shall be deemed to be the closing price of the security on such exchange or market on the date of exercise. 
 3.
Adjustment for Dividends, Distributions, Subdivisions, Combinations, Mergers, Consolidations or Sale of Assets. 
 3.1 Manner of
Adjustment. 
 (a) Unit Dividends, Distributions or Subdivisions. In the event the Company shall issue units in a unit dividend,
unit distribution or subdivision in respect of its Common Units, the Exercise Price in effect immediately before such unit dividend, unit distribution or subdivision shall, concurrently with the effectiveness of such unit dividend, unit distribution
or subdivision, be proportionately decreased and the number of Warrant Units shall be proportionately increased. 
 (b) Combinations or
Consolidations. In the event the outstanding Common Units shall be combined or consolidated, by reclassification or otherwise, into a lesser number of Common Units, the Exercise Price in effect immediately prior to such combination or
consolidation shall, concurrently with the effectiveness of such combination or consolidation, be proportionately increased and the number of Warrant Units shall be proportionately decreased. 

  
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 (c) Adjustment for Reclassification, Exchange or Substitution. In the event that the
class of securities issuable upon the exercise of this Warrant shall be changed into the same or a different number of units (or other equity interests) of any class or classes of units (or other equity interests) of the Company or Holdings prior to
the Expiration Time, whether by capital reorganization, reclassification or otherwise (other than any event addressed by Sections 3.1(a) or 3.1(b)), then and in each such event the Holder shall have the right thereafter to exercise this Warrant
for the kind and amount of units and/or other securities and property receivable upon such reorganization, reclassification, or other change, by holders of the number of units (or other equity interests) of the class of securities into which such
Warrant might have been exercisable for immediately prior to such reorganization, reclassification, or change, all subject to further adjustment as provided herein. For the avoidance of doubt, this Section 3.1(c) shall not apply to a Sale of
the Company. 
 (d) IPO. In connection with preparation for an IPO, upon request the Board of Directors, the Holder will take
appropriate steps to implement a reorganization of the Company which may include, as examples, contribution of this Warrant (or the Warrant Units) to Holdings on terms that preserve and reflect the substantive economic rights of this Warrant (or the
Warrant Units) (consistent with Section 10.08 of the Operating Agreement) and execution of a lock-up (consistent with Section 10.09 of the Operating Agreement). 

3.2 Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Exercise Price pursuant to this
Section 3, the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder a certificate setting forth such adjustment or readjustment and showing in detail the
facts upon which such adjustment or readjustment is based. 
 3.3 Closing of Books. The Company shall at no time close its transfer
books against the transfer of any Warrant Units in any manner which interferes with the timely and proper issuance of such Warrant Units. 

4. Sale of the Company. In the event of a Sale of the Company (as defined in the Operating Agreement) either (i) Holder shall
exercise this Warrant pursuant to Section 1 and/or 2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Sale of the Company, or (ii) if Holder elects not to exercise the Warrant,
this Warrant will expire immediately prior to the consummation of such Acquisition. 
 5. Covenants of the Company. During the period
within which the rights represented by this Warrant may be exercised, the Company shall at all times have authorized for the purpose of issue upon exercise of the rights evidenced hereby, a sufficient number of units of the class of securities
issuable upon exercise of this Warrant to provide for the exercise of such rights; provided, that if at any time the number of units of authorized but unissued securities issuable upon the exercise of this Warrant shall not be sufficient to
effect the exercise of this Warrant, upon the request of the holders of at least a majority of the Warrant Units issuable pursuant to all the of the Warrants (the “Requisite Majority”), the Company will promptly take such company
action as shall be necessary to increase its authorized but unissued units of such class of securities issuable upon the exercise of this Warrant as shall be sufficient for such purpose, including, without limitation, preparing an amendment to the
Operating Agreement for the review and approval of the Board of Directors and submitting such amendment to requisite Company members for approval. All securities which may be issued upon the exercise of the rights represented by this Warrant shall,
upon issuance, be validly issued, fully paid and non-assessable and free from all taxes, liens and charges with respect to the issue thereof. Upon surrender for exercise, this Warrant shall be canceled and
shall not be reissued; provided, however, that upon the partial exercise hereof a substitute Warrant of like tenor and date representing the rights to subscribe for and purchase any such unexercised portion hereof shall be issued. 

  
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 6. Voting Rights. This Warrant shall not entitle the Holder to any voting rights or
any other rights as a member of the Company but upon presentation of this Warrant with the Subscription Form or Exchange Notice duly executed and the tender of payment of the aggregate Exercise Price (if applicable) at the office of the Company
pursuant to the provisions of this Warrant, the Holder shall forthwith be deemed a member of the Company in respect of the securities for which the Holder has so subscribed and paid or exchanged, and shall in connection therewith execute any and all
documents required for the Holder to become a party to the Operating Agreement (if not already a party thereto). This Warrant and the Warrant Units, when issued, shall be subject in all respects (including with respect to transfer, voting, economic
rights and otherwise) to the provisions of the Operating Agreement applicable to this Warrant or the Warrant Units, as applicable. 
 7.
No Change Necessary. The form of this Warrant need not be changed because of any adjustment in the Exercise Price or in the number or type of Warrant Units. A Warrant issued after any adjustment or any partial exercise or upon replacement may
continue to express the same Exercise Price and the same number and type of Warrant Units (appropriately reduced in the case of partial exercise) as are stated on this Warrant as initially issued, and that Exercise Price and that number and type of
Warrant Units shall be considered to have been so changed as of the close of business on the date of adjustment. 
 8. Notices to
Holder. If at any time prior to the expiration of this Warrant and prior to its exercise, any of the following events shall occur: 
 (a)
the Company shall take a record of the holders of its Common Units for the purpose of entitling them to receive a dividend or distribution payable in respect of the Common Units, other than Tax Distributions, or 

(b) the consummation of a Sale of the Company 

then, in any one or more of said events, the Company shall give to the Holder written notice of such event. Such notice shall set forth the date on which such
event shall take place, shall if applicable specify the deadline date as of which the holders of Common Units of record shall be entitled or required to take any action, or the record date with respect to any dividend, and shall be given at least
ten (10) days’ prior to the deadline or record date. Failure to give such notice or any defect therein shall not affect the validity of any action taken in connection with the declaration or payment of any such dividend or the making of
any such distribution or any action in connection with any such proposed Sale of the Company, provided that any cancellation of this Warrant pursuant to Section 4 shall be contingent on delivery by the Company of the written notice(s) specified
in such Section. 
 9. Addresses for Notices. All notices, requests, consents and other communications hereunder shall be in writing,
either delivered in hand or mailed by registered or certified mail, return receipt requested, or sent by facsimile, and shall be deemed to have been duly made when delivered: 

(a) If to the Holder, to the Holder’s address as shown on the Holder’s signature page hereto; or 

(b) If to the Company, at the Company’s principal executive office, with attention to the President of the Company. 

  
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 10. Substitution. In the case this Warrant shall be mutilated, lost, stolen or
destroyed, the Company shall issue a new Warrant of like tenor and denomination and deliver the same (a) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (b) in lieu of any Warrant lost,
stolen or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft, or destruction of such Warrant (including, without limitation, a reasonably detailed affidavit with respect to the circumstances of any loss, theft or
destruction), and of indemnity (or, in the case of the initial Holder or any other institutional holder, an indemnity agreement) satisfactory to the Company. 

11. Transfer Restrictions. This Warrant shall be exercisable only by the Holder. Without the prior written consent of the Company, this
Warrant shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation
or other disposition of this Warrant or of any rights granted hereunder contrary to the provisions of this Section 11, or the levy of any attachment or similar process upon this Warrant or such rights, shall be null and void. Notwithstanding
the foregoing, the Holder may transfer this Warrant in full to an Affiliate or family member (as defined in the Operating Agreement) of the Holder; provided that (1) the transferee shall agree in writing to be bound by and subject to all
the obligations and entitled to all the benefits of this Warrant as the “Holder” hereunder, and (2) the Company obtains prior assurances reasonably satisfactory to the Company that such transfer is exempt from the registration
requirements of, or is covered by an effective registration statement under, the Act and applicable state securities or “blue sky” laws, including, without limitation, receipt of an opinion to such effect of counsel reasonably satisfactory
to the Company. 
 12. Taxes. The Company makes no representation about tax treatment to the Holder with respect to receipt or
exercise of this Warrant or acquiring, holding or disposing of the Warrant Units, and the Holder represents that the Holder has had the opportunity to discuss such treatment with the Holder’s tax advisers. 

13. Remedies. Each party stipulates that the remedies at law in the event of any default or threatened default by the other party in the
performance or compliance with any of the terms of this Warrant are and shall not be adequate, and that such terms may be specifically enforced by a decree for that specific performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise. 
 14. Governing Law. This Warrant shall be governed by, and construed in
accordance with the internal laws of the State of Delaware, without reference to principles of conflict of laws or choice of laws. 

  
 5 

 15. Amendment. Except as expressly provided herein, neither this Warrant nor any term
hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the holders of warrants representing not less than a majority of the Warrant Units issuable upon
exercise of any and all outstanding Warrants, which majority does not need to include the consent of the Holder; provided, however, that no such amendment, waiver or termination shall (i) increase the Exercise Price or
(ii) otherwise decrease the number of Warrant Units issuable hereunder. Any amendment, waiver, discharge or termination effected in accordance with this Section 15shall be binding upon each holder of the Warrants, each future holder of
such Warrants and the Company. 
 16. Miscellaneous. The invalidity or unenforceability of any provision hereof shall in no way affect
the validity or enforceability of any other provision. This Warrant may be executed in any number of counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument, and any of
the parties hereto may execute this Warrant by signing any such counterpart. This Warrant may be executed and delivered by facsimile, or by e-mail in portable document format (.pdf) and delivery of the
signature page by such method will be deemed to have the same effect as if the original signature had been delivered to the other parties. 

[remainder of page intentionally left blank] 

  
 6 

 IN WITNESS WHEREOF, the Company has caused this Common Unit Warrant to be executed effective
as of the date first written above. 
  

			
	YUMANITY HOLDINGS, LLC
		
	By:	 	 /s/ Paulash Mohsen

	Name:	 	Paulash Mohsen
	Title:	 	Chief Business Officer

  

			
	Acknowledged and agreed as of the date first written above by:
	
	ALEXANDRIA EQUITIES, LLC

			
		
	By:	 	 /s/ Jennifer Banks

			
		 	Name: Jennifer Banks
		 	Title: EVP, General Counsel

 [SIGNATURE PAGE TO COMMON UNIT WARRANT] 

 Exhibit A 

Subscription Form 
 (To
be Executed by the Holder 
 in Order to Exercise the Warrant) 

Date: ____________________ 
  

	To:	 [________] 

The undersigned, pursuant to the provisions set forth in the attached Warrant hereby irrevocably elects to purchase _____ Common Units (the “Common
Units”) of Yumanity Holdings, LLC (the “Company”) covered by such Warrant and herewith makes payment of $_________, representing the [full/partial] purchase price for such units at the price per unit provided for in such
Warrant. Capitalized terms defined, but not used, herein shall have the meanings ascribed to them in such Warrant. 
 The undersigned hereby agrees to take
such other action and execute and deliver such other documents as the Company may require, in connection with the issuance of the Common Units to the undersigned as aforesaid, in order to comply with the provisions of such Warrant. 

The undersigned is aware that the Common Units issuable upon exercise hereof (the “Units”) have not been registered under the Act or any
state securities laws. The undersigned understands that the reliance by the Company on exemptions under the Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Subscription Form and such Warrant. 

The undersigned represents and warrants that (1) it has been furnished with all information which it deems necessary to evaluate the merits and risks of
the purchase of the Units, (2) it has had the opportunity to ask questions concerning the Units and the Company and all questions posed have been answered by the Company to its satisfaction, (3) it has been given the opportunity to obtain
any additional information it deems necessary to verify the accuracy of any information obtained concerning the Units and the Company, (4) it has such knowledge and experience in financial and business matters that it is able to evaluate the
merits and risks of purchasing the Units and to make an informed investment decision relating thereto, and (5) it is an “Accredited Investor” as defined in Rule 501(a) of Regulation D under the Act. 

The undersigned hereby represents and warrants that it is purchasing the Units for its own account and not with a view to the sale or distribution of all or
any part of the Units. 
 The undersigned understands that because the Units have not been registered under the Act, it must continue to bear the economic
risk of the investment for an indefinite time and the Units cannot be sold unless the Units are subsequently registered under applicable federal and state securities laws or an exemption from such registration is available. 

The undersigned agrees that it shall in no event sell or distribute or otherwise dispose of all or any part of the Units unless (1) there is an effective
registration statement under the Act and applicable state securities laws covering any such transaction involving the Units, (2) the Company receives an opinion of legal counsel to the undersigned (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration, and (3) the sale or distribution is in compliance with the Operating Agreement. 

  
 A-1 

 The undersigned understands that the Units will not be certificated, but consents to the placing of a legend
on any certificate issued in respect of the Units stating that the Units has not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any
transfer agents against the Units until the Units may be legally resold or distributed without restriction. 
 The undersigned has considered the Federal
and state income and other tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Units. 
  

	
	  

	Printed Name of Holder (Must conform in all respects to name of Holder as specified on the face of such Warrant)
	  

	Signature
	  

	Name of Signatory (for an entity only)
	  

	Title of Signatory (for an entity only)

  
 A-2 

 Exhibit B 

Exchange Notice 
 (To be
Executed by the Holder 
 in Order to Exchange the Warrant) 

Date: ____________________ 
  

	To:	 [________] 

The undersigned, pursuant to the provisions set forth in the attached Warrant hereby irrevocably elects to exchange such Warrant with respect to _________
Common Units (the “Common Units”) of Yumanity Holdings, LLC (the “Company”) covered by such Warrant which such Holder would be entitled to receive upon the exercise thereof. Capitalized terms defined, but not used,
herein shall have the meanings ascribed to them in such Warrant. 
 The undersigned hereby agrees to take such other action and execute and deliver such
other documents as the Company may require, in connection with the issuance of the Common Units to the undersigned as aforesaid, in order to comply with the provisions of such Warrant. 

The undersigned is aware that the Common Units issuable upon exercise hereof (the “Units”) have not been registered under the Act or any
state securities laws. The undersigned understands that the reliance by the Company on exemptions under the Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Subscription Form and such Warrant. 

The undersigned represents and warrants that (1) it has been furnished with all information which it deems necessary to evaluate the merits and risks of
the purchase of the Units, (2) it has had the opportunity to ask questions concerning the Units and the Company and all questions posed have been answered by the Company to its satisfaction, (3) it has been given the opportunity to obtain
any additional information it deems necessary to verify the accuracy of any information obtained concerning the Units and the Company, (4) it has such knowledge and experience in financial and business matters that it is able to evaluate the
merits and risks of purchasing the Units and to make an informed investment decision relating thereto, and (5) it is an “Accredited Investor” as defined in Rule 501(a) of Regulation D under the Act. 

The undersigned hereby represents and warrants that it is purchasing the Units for its own account and not with a view to the sale or distribution of all or
any part of the Units. 
 The undersigned understands that because the Units have not been registered under the Act, it must continue to bear the economic
risk of the investment for an indefinite time and the Units cannot be sold unless the Units are subsequently registered under applicable federal and state securities laws or an exemption from such registration is available. 

The undersigned agrees that it shall in no event sell or distribute or otherwise dispose of all or any part of the Units unless (1) there is an effective
registration statement under the Act and applicable state securities laws covering any such transaction involving the Units, (2) the Company receives an opinion of legal counsel to the undersigned (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration, and (3) the sale or distribution is in compliance with the Operating Agreement. 

  
 B-1 

 The undersigned understands that the Units will not be certificated, but consents to the placing of a legend
on any certificate issued in respect of the Units stating that the Units has not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any
transfer agents against the Units until the Units may be legally resold or distributed without restriction. 
 The undersigned has considered the Federal
and state income and other tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Units. 
  

	
	  

	Printed Name of Holder (Must conform in all respects to name of Holder as specified on the face of such Warrant)
	  

	Signature
	  

	Name of Signatory (for an entity only)
	  

	Title of Signatory (for an entity only)

  
 B-2

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