Document:

EX-10.29

  Exhibit 10.29

  CONFIDENTIAL SEPARATION AGREEMENT
AND GENERAL RELEASE OF ALL CLAIMS

  This Confidential Separation Agreement and General Release of All Claims (“Separation Agreement”) is made by and between Equillium, Inc. (“Company”) and Dolca Thomas  (“Employee”).  The Company and Employee may also be referred to in this Separation Agreement as a Party and collectively as “the Parties.”

  A.WHEREAS, Employee is currently employed by Company as Chief Medical Officer and Executive Vice President of Research and Development  pursuant to a letter agreement (“Offer Letter”) dated December 13, 2020; and

  B.WHEREAS, Employee resigned from her employment with the Company on February 11, 2022, effective February 25, 2022. 

  C.WHEREAS, the Parties desire to settle all claims and issues that have, or could have been raised, in relation to Employee’s employment with Company and arising out of or in any way related to the acts, transactions or occurrences between Employee and Company to date, including, but not limited to, Employee’s employment with Company or the termination of that employment, on the terms set forth below.

  NOW THEREFORE, in consideration of the promises and mutual agreements hereinafter set forth, it is agreed by and between the undersigned as follows:

  1.Separation Date.  Employee’s employment with Company will conclude on February 25, 2022 (“Separation Date”).  Employee will receive her final paycheck on the Separation Date.  Employee will not be expected in the interim period between the date of execution of this Separation Agreement and the Separation Date to perform any functions or duties other than of a transitory nature.

  2.Separation Payments.  Company agrees to provide Employee with the following payments (“Separation Payments”) in the amount of $169,727.44, which shall be paid on or before the Separation Date regardless of whether this Agreement becomes effective as delineated in Section 14.2.  

  2.1Payment of salary earned but unpaid from the last pay period through the Separation Date, totaling approximately $18,908.85;

  2.2Payment of a discretionary bonus for calendar year 2021 in the amount of $146,251.28; 

  2.3Refund of ESPP balance as of today in the amount of $4,567.31.

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  3.Separation Benefits.  In addition to the Separation Payments set forth above, Company agrees to provide Employee with the following payments and benefits (“Separation Benefits”) to which it contends Employee is not otherwise entitled.  Employee acknowledges and agrees that these Separation Benefits constitute adequate legal consideration for the promises and representations made by Employee in this Separation Agreement and for the general release given by Employee.  All Separation Benefits described in this Section 3 are contingent upon Employee’s execution of this Separation Agreement and Employee’s re-execution of the general release contained herein, contained in the attached Addendum to Separation Agreement, on the Effective Date.

  3.1 		Company agrees to provide Employee with separation payments in the gross amount of $276,573.39 (excluding COBRA benefits), less all required federal and state income and employment taxes and withholdings.  The Separation Benefits will be paid within two (2) business days of the Effective Date as set forth in Paragraph 14.2 below.

  3.1.1	Payment of a prorated 2022 discretionary bonus (assuming 100% achievement of goals) through February 25, 2022 in the amount of $30,758.39; 

  3.1.2	A severance payment in the amount of $245,815.00, which represents six (6) months of Employee’s base salary; 

  3.1.3	Continuation of Group Health Benefits. Company agrees to pay the premiums required to continue Employee’s and Employee’s dependents’ group health care coverage through August 30, 2022, under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA"), provided that Employee timely elects to continue and remains eligible for these benefits under COBRA and does not become eligible for health coverage through another employer during this period; and

   

   

   

   

   

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  4.Disclosures Regarding Employee Separation.  Company agrees that in response to any inquiry to Company’s Human Resources Department, Company will provide a neutral reference limited to Employee’s dates of employment and position held.  

  5.General Releases.

  1.1Employee unconditionally, irrevocably and absolutely releases and discharges Company, and any parent and subsidiary corporations, divisions and affiliated corporations, partnerships or other affiliated entities of Company, including but not limited to Equillium AUS Pty Ltd. and with respect to each entity, all of its past and present employees, officers, directors, shareholders, agents, successors and assigns (collectively, “Employee Released Parties”) from all claims related in any way to the transactions or occurrences between them to date, to the fullest extent permitted by law, including but not limited to Employee’s employment with Company, the termination of Employee’s employment, and all other losses, liabilities, claims, charges, demands and causes of action, known or unknown, suspected or unsuspected, arising directly or indirectly out of or in any way connected with Employee’s employment with Company.  This release is intended to have the broadest possible application and includes, but is not limited to, any local, state, or federal tort, contract, whistleblower, discrimination, harassment, retaliation, common law, constitutional or other statutory claims, including but not limited to alleged violations of the California Labor Code, California Industrial Welfare Commission wage orders, California Business and Professions Code, California Fair Employment and Housing Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, Section 1981 of the Civil Rights Act of 1866, the Equal Pay Act, the Genetic Information Nondiscrimination Act, and the Age Discrimination in Employment Act of 1967, as amended, any claims for wrongful termination and/or violation of public policy, any claims for breach of fiduciary duty, any claims for violation of Company and/or the Released Parties’ bylaws, policies, procedures or other governing documents, and any and all claims for attorneys’ fees, costs and expenses.  This release shall not affect or modify Employee’s rights to indemnification from the Company, if any, that may arise under her Offer Letter or statutory or common law as to any acts or omissions of Employee, during her employment and within the course and scope of that employment.

  2.1Employee acknowledges that Employee may discover facts or law different from, or in addition to, the facts or law that Employee knows or believes to be true with respect to the claims released in this Separation Agreement and agrees, nonetheless, that this Separation Agreement and the release contained in it shall be and remain effective in all respects notwithstanding such different or additional facts or the discovery of them.

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  2.2Employee declares and represents that Employee intends this Separation Agreement to be complete and not subject to any claim of mistake, and that the release herein expresses a full and complete release and Employee intends the release herein to be final and complete.  Employee executes this release with the full knowledge that this release covers all possible claims against the Employee Released Parties, to the fullest extent permitted by law.  Employee understands and agrees that a condition of Employee’s receipt of the Separation Benefits is that Employee shall re-execute these general release provisions (5.1 through 5.4) on the Effective Date.

  2.3This General Release is not intended to bar any claims that, by law, may not be waived, such as claims for workers’ compensation benefits, unemployment insurance benefits, statutory indemnity, and any challenge to the validity of Employee’s release of claims under the Age Discrimination in Employment Act of 1967, as amended, if applicable.  This General Release does not prevent Employee from contacting, providing information to, or filing a charge with any federal, state or local government agency or commission, including but not limited to the Equal Employment Opportunity Commission (“EEOC”), the Securities and Exchange Commission (“SEC”), or the National Labor Relations Board (“NLRB”).  Employee is prevented, however, to the maximum extent permitted by law, from obtaining any monetary or other personal relief for any of the claims Employee has released in this Paragraph 2 and its subparts with regard to any charge or claim Employee may file or which may be filed or otherwise brought on Employee’s behalf.  Nothing in this Agreement is intended to or shall be interpreted to restrict or otherwise interfere with: (i) Employee’s obligation to testify truthfully in any forum; or (ii) Employee’s right and/or obligation to contact, cooperate with, provide information to, or participate in any investigation conducted by, any government agency or commission (including but not limited to the EEOC, SEC or NLRB).

  2.4The Company, including but not limited to Equillium AUS Pty Ltd., and with respect to each entity, all of its past and present employees, officers, directors, shareholders, agents, successors and assigns (collectively, “Company Released Parties”), unconditionally, irrevocably and absolutely release and discharge Employee from all claims related in any way to the transactions or occurrences between them to date, to the fullest extent permitted by law, including but not limited to Employee’s employment with Company, the termination of Employee’s employment, and all other losses, liabilities, claims, charges, demands and causes of action, known or unknown, suspected or unsuspected, arising directly or indirectly out of or in any way connected with Employee’s employment with Company.  This release is intended to have the broadest possible application and includes, but is not limited to, any local, state, or federal tort, contract, common law, constitutional or other statutory claims, including but not limited to alleged violations of the California Business and Professions Code, any claims for breach of contract and/or violation of public policy, any claims for breach of fiduciary duty, any claims for violation of 

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  Company bylaws, policies, procedures or other governing documents, and any and all claims for attorneys’ fees, costs and expenses.

  2.5The Company acknowledges that it may discover facts or law different from, or in addition to, the facts or law that the Company knows or believes to be true with respect to the claims released in this Separation Agreement and agrees, nonetheless, that this Separation Agreement and the release contained in it shall be and remain effective in all respects notwithstanding such different or additional facts or the discovery of them.

  2.6The Company declares and represents that it intends this Separation Agreement to be complete and not subject to any claim of mistake, and that the release herein expresses a full and complete release and Employee intends the release herein to be final and complete.  The Company executes this release with the full knowledge that this release covers all possible claims against the Company Released Parties, to the fullest extent permitted by law

  3.California Civil Code Section 1542 Waiver.  The Parties expressly acknowledge and agree that all rights under Section 1542 of the California Civil Code are expressly waived.  That section provides:

  A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.

  4.Representation Concerning Filing of Legal Actions.  The Parties represent that, as of the date of this Separation Agreement, neither Party has filed any lawsuits, charges, complaints, petitions, claims or other accusatory pleadings against the other Party or against any Employee Released Parties or Company Released Parties in any court or with any governmental agency.

  5.Non-Disparagement.  The Parties represent that as of the date of execution of this Separation, neither of them has, and that in the future, neither of them will make any voluntary statements, written, oral or electronic or cause or encourage others to make any such statements intended to defame, disparage or in any way criticize the personal and/or business reputations, practices or conduct of the other party or any of the other Employee Released Parties or Company Released Parties.  

  6.Confidentiality and Return of Company Property.  Employee understands and agrees that as a condition of receiving the Separation Benefits in paragraph 2, all Company property must be returned to Company on or before the Separation Date.  By signing this Separation Agreement, Employee represents and warrants that Employee will have returned to Company, on or before the Separation Date, all Company property, data and information belonging to Company and agrees that Employee will not use or disclose to others any confidential or proprietary 

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  information of Company or the Employee Released Parties.  In addition, Employee agrees to keep the terms of this Separation Agreement confidential, including the reasons for separation, between Employee and Company, except that Employee may disclose to attorney or accountant, if any, as needed and subject to confidentiality, but in no event will Employee discuss this Separation Agreement or its terms with any current or prospective employee of Company.  

  7.Continuing Obligations.  Employee agrees to comply with the continuing obligations in the surviving provisions of Company’s Confidential Information Agreement that Employee signed in connection with Employee’s employment with Company.

  8.Enforcement.  In the event of a material breach by either Party of the terms of this Separation Agreement, any dispute arising therefrom shall be adjudicated by binding arbitration before a single neutral arbitrator in San Diego County, California.  Any such arbitration shall be held before the American Arbitration Association and the Parties will jointly attempt to select a single neutral arbitrator.  The AAA Rules for Commercial Disputes shall govern and if the Parties are unable to reach agreement on the selection of a single neutral arbitrator, the procedure for selection of the arbitrator set forth in the AAA Rules shall control.  Nothing herein shall limit either Party’s right to seek injunctive relief in the state or federal courts located in San Diego County, California.  The costs of any arbitration hereunder shall be paid in accordance with the arbitration provisions contained in Employee’s Offer Letter.  Employee shall be entitled in any arbitration necessary to recover payments required under this Separation Agreement to recover legal fees.  In all other respects, the parties shall each be responsible for payment of their own attorney’s fees in arbitration.

  9.No Other Severance.  Employee acknowledges and agrees that the Severance provided pursuant to this Separation Agreement is in lieu of any other severance benefits to which Employee may be eligible under any other agreement and/or severance plan or practice.

  10.No Admissions.  By entering into this Separation Agreement, the Released Parties make no admission that they have engaged, or are now engaging, in any unlawful conduct.  The parties understand and acknowledge that this Separation Agreement is not an admission of liability and shall not be used or construed as such in any legal or administrative proceeding.

  11.Older Workers’ Benefit Protection Act.  This Separation Agreement is intended to satisfy the requirements of the Older Workers’ Benefit Protection Act, 29 U.S.C. sec. 626(f) (“OWBPA”).  Employee is advised to consult with an attorney before executing this Separation Agreement.

  1.1Acknowledgments/Time to Consider.  Employee acknowledges and agrees that (a) Employee has read and understands the terms of this Separation Agreement; (b) Employee has been advised in writing to consult with an attorney before executing this Separation Agreement; (c) Employee has obtained and considered such legal counsel as Employee deems necessary; (d) Employee has been given twenty-one (21) days to consider whether or not to enter into this Separation Agreement (although Employee may elect not to use the full 21-day period at Employee’s option); and (e) by signing this Separation Agreement, 

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  Employee acknowledges that Employee does so freely, knowingly, and voluntarily, and waives the 21 day consideration period.

  1.1Revocation/Effective Date.  This Separation Agreement shall not become effective or enforceable until the eighth day after Employee signs this Separation Agreement.  In other words, Employee may revoke Employee’s acceptance of this Separation Agreement within seven (7) days after the date Employee signs it.  Employee’s revocation must be in writing and received by Christine Zedelmayer, Chief Operating Officer by 5:00 p.m. Pacific Time on the seventh day in order to be effective.  If Employee does not revoke acceptance within the seven (7) day period, Employee’s acceptance of this Separation Agreement shall become binding and enforceable on the eighth day (“Effective Date”).  

  1.2Preserved Rights of Employee.  This Separation Agreement does not waive or release any rights or claims that Employee may have under the Age Discrimination in Employment Act that arise after the execution of this Separation Agreement.  In addition, this Agreement does not prohibit Employee from challenging the validity of this Separation Agreement’s waiver and release of claims under the Age Discrimination in Employment Act of 1967, as amended.

  12.Severability.  In the event any provision of this Separation Agreement shall be found unenforceable or unconscionable, the unenforceable provision shall be deemed deleted and the validity and enforceability of the remaining provisions shall not be affected thereby.

  13.Full Defense.  This Separation Agreement may be pled as a full and complete defense to, and may be used as a basis for an injunction against, any action, suit or other proceeding that may be prosecuted, instituted or attempted by Employee in breach hereof.

  14.Applicable Law/Jurisdiction.  The validity, interpretation and performance of this Separation Agreement shall be construed and interpreted according to the laws of the United States of America and the State of California.  The Parties both acknowledge and agree that they are subject to the personal jurisdiction of the state and federal courts located within San Diego County, California.  

  15.Successors and Assigns.  This Separation Agreement is binding on Employee’s heirs, family members, executors, agents and assigns.

  16.Counterparts.  This Separation Agreement may be signed in counterparts, and each shall be treated as though signed as one document.  This Separation Agreement shall not be binding upon the Parties until signed by both Parties hereto.

  17.Recitals.  The Recitals are hereby incorporated into and made part of this Separation Agreement.

  18.Entire Agreement; Modification.  This Separation Agreement, including the surviving provisions of the Company’s Confidential Information Agreement previously executed by Employee and herein incorporated by reference, is intended to be the entire agreement between 

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  the parties and supersedes and cancels any and all other and prior agreements, written or oral, between the parties regarding this subject matter.  This Separation Agreement may be amended only by a written instrument executed by all parties hereto.

  THE PARTIES TO THIS SEPARATION AGREEMENT HAVE READ THE FOREGOING SEPARATION AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN.  WHEREFORE, THE PARTIES HAVE EXECUTED THIS SEPARATION AGREEMENT ON THE DATES SHOWN BELOW.

   

  Dated:  February 13, 2022			By:	/s/ Dolca Thomas		

  		Dolca Thomas

   

  	EQUILLIUM, INC.

   

  Dated:  February 13, 2022			By:	/s/ Bruce Steel									Bruce Steel, CEO

   

   

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  ADDENDUM TO SEPARATION AGREEMENT DATED FEBRUARY 13, 2022

   

  As of the date written below, the undersigned hereby reaffirms and ratifies the general release provisions contained in the February 13, 2022 Separation Agreement between herself (“Employee”) and Equillium, Inc. (“the Company”), as follows:

   

  1.  Employee has received and will receive certain separation benefits pursuant to the February 13, 2022 Separation Agreement, which constitute good and sufficient consideration for the general release provided by Employee in the Separation Agreement and the general release provided by Employee herein.

   

  2.  Employee unconditionally, irrevocably and absolutely releases and discharges Company, and any parent and subsidiary corporations, divisions and affiliated corporations, partnerships or other affiliated entities of Company, including but not limited to Equillium AUS Pty Ltd. and with respect to each entity, all of its past and present employees, officers, directors, shareholders, agents, successors and assigns (collectively, “Employee Released Parties”) from all claims related in any way to the transactions or occurrences between them to date, to the fullest extent permitted by law, including but not limited to Employee’s employment with Company, the termination of Employee’s employment, and all other losses, liabilities, claims, charges, demands and causes of action, known or unknown, suspected or unsuspected, arising directly or indirectly out of or in any way connected with Employee’s employment with Company.  This release is intended to have the broadest possible application and includes, but is not limited to, any local, state, or federal tort, contract, whistleblower, discrimination, harassment, retaliation, common law, constitutional or other statutory claims, including but not limited to alleged violations of the California Labor Code, California Industrial Welfare Commission wage orders, California Business and Professions Code, California Fair Employment and Housing Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, Section 1981 of the Civil Rights Act of 1866, the Equal Pay Act, the Genetic Information Nondiscrimination Act, and the Age Discrimination in Employment Act of 1967, as amended, any claims for wrongful termination and/or violation of public policy, any claims for breach of fiduciary duty, any claims for violation of Company and/or the Released Parties’ bylaws, policies, procedures or other governing documents, and any and all claims for attorneys’ fees, costs and expenses.  This release shall not affect or modify Employee’s rights to indemnification from the Company, if any, that may arise under her Offer Letter or statutory or common law as to any acts or omissions of Employee, during her employment and within the course and scope of that employment.

   

  3.  Employee acknowledges that Employee may discover facts or law different from, or in addition to, the facts or law that Employee knows or believes to be true with respect to the claims released in this Addendum to Separation Agreement and agrees, nonetheless, that this Addendum to Separation Agreement and the release contained in it shall be and remain effective in all respects notwithstanding such different or additional facts or the discovery of them.

   

  4.  Employee declares and represents that Employee intends this Addendum to Separation Agreement to be complete and not subject to any claim of mistake, and that the release herein expresses a full and complete release and Employee intends the release herein to be final and 

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  complete.  Employee executes this release with the full knowledge that this release covers all possible claims against the Employee Released Parties, to the fullest extent permitted by law.  

   

  5.  This Addendum to Separation Agreement and the General Release contained herein is not intended to bar any claims that, by law, may not be waived, such as claims for workers’ compensation benefits, unemployment insurance benefits, statutory indemnity, and any challenge to the validity of Employee’s release of claims under the Age Discrimination in Employment Act of 1967, as amended, if applicable.  This Addendum to Separation Agreement and the General Release contained herein does not prevent Employee from contacting, providing information to, or filing a charge with any federal, state or local government agency or commission, including but not limited to the Equal Employment Opportunity Commission (“EEOC”), the Securities and Exchange Commission (“SEC”), or the National Labor Relations Board (“NLRB”).  Employee is prevented, however, to the maximum extent permitted by law, from obtaining any monetary or other personal relief for any of the claims Employee has released in this Paragraph 2 and its subparts with regard to any charge or claim Employee may file or which may be filed or otherwise brought on Employee’s behalf.  Nothing in this Addendum to Separation Agreement is intended to or shall be interpreted to restrict or otherwise interfere with: (i) Employee’s obligation to testify truthfully in any forum; or (ii) Employee’s right and/or obligation to contact, cooperate with, provide information to, or participate in any investigation conducted by, any government agency or commission (including but not limited to the EEOC, SEC or NLRB).

   

  	 

  Executed this 21st day of February 2022 at San Francisco, California.

   

   

  	_/s/ Dolca Thomas______________

  	Dolca Thomas

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Exhibit 4.3

DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934 
    Recursion Pharmaceuticals, Inc. (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our Class A common stock, par value $0.00001 per share. 
    As used in this summary, the terms “Recursion,” “the Company,” “we,” “our” and “us” refer to Recursion Pharmaceuticals, Inc.
The following is a description of the material terms and provisions relating to our capital stock. The following description is a summary that is not complete and is subject to and qualified in its entirety by reference to our amended and restated certificate of incorporation and our amended and restated bylaws, and to provisions of the Delaware General Corporation Law. Copies of our amended and restated certificate of incorporation and our amended and restated bylaws, each of which may be amended from time to time, are included as exhibits to the Annual Report on Form 10-K to which this description is an Exhibit.
General
Our authorized capital stock consists of 2,200,000 shares of capital stock, $0.00001 par value per share, of which 200,000 shares are designated preferred stock and 2,000,000 shares are designated common stock. 
Common Stock 
We have two series of authorized common stock, Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. 
Voting Rights 
Each holder of Class A common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors, and each holder of Class B common stock is entitled to ten votes for each share on all matters submitted to a vote of the stockholders, including the election of directors. The holders of Class A common stock and Class B common stock vote together as a single class, unless otherwise required by law. Under our amended and restated certificate of incorporation, approval of the holders of a majority of the outstanding shares of our Class B common stock voting as a separate class is required to increase the number of authorized shares of our Class B common stock. In addition, Delaware law could require either the holders of our Class A common stock or Class B common stock to vote separately as a single class in the following circumstances: 

												
		•		if we were to seek to amend our amended and restated certificate of incorporation to increase or decrease the par value of a class of stock, then that class would be required to vote separately to approve the proposed amendment; and

												
		•		if we were to seek to amend our amended and restated certificate of incorporation in a manner that alters or changes the powers, preferences or special rights of a class of stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment.

Until the Final Conversion Date (described below), approval of the holders of at least two-thirds of the outstanding shares of our Class B common stock voting as a separate class is required to amend, repeal or adopt any provision of the amended and restated certificate of incorporation inconsistent with, or otherwise alter, any provision of the amended and restated certificate of incorporation relating to the voting, conversion, or other rights, powers, preferences privileges, or restrictions of our Class B common stock so as to affect them adversely or to reclassify any outstanding shares of Class A common stock into 

Exhibit 4.3

shares having rights as to dividends or liquidation that are senior to the Class B common stock or the right to have more than one vote for each share thereof, except as required by law. 
Our amended and restated certificate of incorporation and amended and restated bylaws do not provide for cumulative voting rights. Because of this, the holders of a plurality of the shares of Class A common stock and Class B common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose. With respect to matters other than the election of directors, at any meeting of the stockholders at which a quorum is present or represented, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at such meeting and entitled to vote on the subject matter shall be the act of the stockholders, except as otherwise required by law. The holders of a majority of the stock issued and outstanding and entitled to vote, present in person or represented by proxy, shall constitute a quorum for the transaction of business at all meetings of the stockholders. 
Dividends 
Subject to preferences that may be applicable to any then-outstanding preferred stock, holders of our Class A common stock and Class B common stock are entitled to receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds. 
Liquidation 
In the event of our liquidation, dissolution, or winding up, holders of our Class A common stock and Class B common stock are entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock. 
Conversion of Class B Common Stock 
Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. Shares of Class B common stock automatically convert into shares of Class A common stock upon sale or transfer except for certain transfers described in our amended and restated certificate of incorporation, including transfers for estate planning. 
In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon the earliest of (i) the seven year anniversary of the first day of trading on Nasdaq of our Class A common stock, (ii) the date specified by written consent or agreement of the holders of at least 66 2/3% of our then outstanding shares of Class B common Stock, (iii) nine months after Dr. Christopher Gibson, our co-founder and Chief Executive Officer, ceases to hold any positions as an officer or director with us or (iv) nine months after the death or disability of Dr. Gibson. We refer to the date on which such final conversion of all outstanding shares of Class B common stock pursuant to the terms of our amended and restated certificate of incorporation occurs as the Final Conversion Date. 

Rights and Preferences 
Holders of our Class A common stock have no preemptive, conversion, subscription, or other rights, and there are no redemption or sinking fund provisions applicable to our Class A common stock. Holders of our Class B common stock have no preemptive or subscription rights, but have conversion rights. There are no redemption or sinking fund provisions applicable to our Class B common stock. The rights, preferences and privileges of the holders of our Class A common stock and Class B common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of our preferred stock that we may designate in the future. 
Preferred Stock 
Our board of directors has the authority, without further action by the stockholders, to issue up to 200,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, redemption rights, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of Class A common stock and Class B common stock. The issuance of preferred stock could adversely affect the voting power of holders of Class A common stock and Class B common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the 

Exhibit 4.3

issuance of preferred stock could have the effect of delaying, deferring or preventing a change in our control or other corporate action. 
Registration Rights 
Under our investors’ rights agreement, as amended, the holders of shares of Class A common stock or their transferees, have the right to require us to register the offer and sale of their shares or to include their shares in any registration statement we file, in each case as described below. 
Form S-3 Registration Rights 
Certain holders of shares of our Class A common stock are entitled to certain Form S-3 registration rights. At any time after the completion of this offering when we are eligible to file a registration statement on Form S-3, the holders of the shares having these rights then outstanding can request that we register the offer and sale of their shares of our Class A common stock on a registration statement on Form S-3 so long as the request covers securities the anticipated aggregate public offering price of which is at least $1 million. These stockholders may make an unlimited number of requests for registration on a registration statement on Form S-3. However, we are not required to effect a registration on Form S-3 if we have effected three such registrations within the twelve month period preceding the date of the request. These Form S-3 registration rights are subject to specified conditions and limitations, including the right of the underwriters to limit the number of shares included in any such registration under certain circumstances. Additionally, if we determine that it would be seriously detrimental to us and our stockholders to effect such a demand registration, we have the right to defer such registration, not more than twice in any twelve month period, for a period of up to 180 days. 
Piggyback Registration Rights 
Certain holders of shares of our Class A common stock are entitled to certain “piggyback” registration rights. If we propose to register the offer and sale of shares of our Class A common stock under the Securities Act, the holders of these shares can request that we include their shares in such registration, subject to certain marketing and other limitations, including the right of the underwriters to limit the number of shares included in any such registration statement under certain circumstances. As a result, whenever we propose to file a registration statement under the Securities Act, other than with respect to (1) a registration solely to employee benefit plans, (2) a registration relating to the offer and sale of debt securities, (3) a registration relating to a corporate reorganization or other transaction covered by Rule 145 promulgated under the Securities Act, (4) a registration on any registration form that does not permit secondary sales or (5) a registration pursuant to the demand or Form S-3 registration rights described in the preceding two paragraphs above, the holders of these shares are entitled to notice of the registration and have the right, subject to certain limitations, to include their shares in the registration. 
Expenses of Registration 
We will pay all expenses relating to any Form S-3 registrations and piggyback registrations, subject to specified exceptions. 

Termination 
The registration rights terminate upon the earliest of (1) the date that is two years after the closing of our initial public offering (2) immediately prior to the closing of certain liquidation events and (3) as to a given holder of registration rights, the date after the closing of this offering when such holder of registration rights can sell all of such holder’s registrable securities during any 90-day period pursuant to Rule 144 promulgated under the Securities Act. 
Anti-takeover Effects of Certain Provisions of Delaware Law, Our Amended and Restated Certificate of Incorporation and Our Amended and Restated Bylaws 
Certain provisions of Delaware law and certain provisions included in our amended and restated certificate of incorporation and amended and restated bylaws summarized below may be deemed to have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that a stockholder might consider to be in its best interests, including attempts that might result in a premium being paid over the market price for the shares held by stockholders. 

Exhibit 4.3

Preferred Stock 
Our amended and restated certificate of incorporation contains provisions that permit our board of directors to issue, without any further vote or action by the stockholders, shares of preferred stock in one or more series and, with respect to each such series, to fix the number of shares constituting the series and the designation of the series, the voting rights (if any) of the shares of the series and the powers, preferences, or relative, participation, optional and other special rights, if any, and any qualifications, limitations, or restrictions, of the shares of such series. 
Classified Board 
Our amended and restated certificate of incorporation provides that our board of directors is divided into three classes, designated Class I, Class II, and Class III. Each class consists of an equal number of directors, as nearly as possible, consisting of one third of the total number of directors constituting the entire board of directors. The term of initial Class I directors shall terminate on the date of the 2022 annual meeting, the term of the initial Class II directors shall terminate on the date of the 2023 annual meeting, and the term of the initial Class III directors shall terminate on the date of the 2024 annual meeting. At each annual meeting of stockholders beginning in 2022, the class of directors whose term expires at that annual meeting is subject to reelection for a three-year term. 
Removal of Directors 
Our amended and restated certificate of incorporation provides that stockholders may only remove a director for cause by a vote of no less than a majority of the shares present in person or by proxy at the meeting and entitled to vote. 
Director Vacancies 
Our amended and restated certificate of incorporation authorized only our board of directors to fill vacant directorships. 
No Cumulative Voting 
Our amended and restated certificate of incorporation provides that stockholders do not have the right to cumulate votes in the election of directors. 

Special Meetings of Stockholders 
Our amended and restated certificate of incorporation and amended and restated bylaws provide that, except as otherwise required by law, special meetings of the stockholders may be called only by an officer at the request of a majority of our board of directors, by the Chair of our board of directors or by our Chief Executive Officer. 
Advance notice procedures for director nominations 
Our amended and restated bylaws provide that stockholders seeking to nominate candidates for election as directors at an annual or special meeting of stockholders must provide timely notice thereof in writing. To be timely, a stockholder’s notice generally has to be delivered to and received at our principal executive offices before notice of the meeting is issued by the secretary of the company, with such notice being served not less than 90 nor more than 120 days before the meeting. Although the amended and restated bylaws do not give the board of directors the power to approve or disapprove stockholder nominations of candidates to be elected at an annual meeting, the amended and restated bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of the company. 
Action by Written Consent 
Our amended and restated certificate of incorporation and amended and restated bylaws provide that any action to be taken by the stockholders must be effected at a duly called annual or special meeting of stockholders and may not be effected by written consent. 

Exhibit 4.3

Amending our Certificate of Incorporation and Bylaws 
Our amended and restated certificate of incorporation may be amended or altered in any manner provided by the Delaware General Corporation Law, or DGCL. Our amended and restated bylaws may be adopted, amended, altered, or repealed by stockholders only upon approval of at least majority of the voting power of all the then outstanding shares of the Class A common stock and Class B common stock, except for any amendment of the above provisions, which would require the approval of a two-thirds majority of our then outstanding Class A common stock and Class B common stock or the separate approval of a majority of our Class B common stock for any increase to the authorized number of Class B common stock or two-thirds of our then outstanding Class B common stock for certain amendments to our Class B common stock or certain reclassifications of our Class A common stock described above. Additionally, our amended and restated certificate of incorporation provides that our bylaws may be amended, altered, or repealed by the board of directors. 
Authorized but Unissued Shares 
Our authorized but unissued shares of Class A common stock, Class B common stock, and preferred stock is available for future issuances without stockholder approval, except as required by the listing standards of Nasdaq, and could be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved Class A common stock, Class B common stock, and preferred stock could render more difficult or discourage an attempt to obtain control of the company by means of a proxy contest, tender offer, merger, or otherwise. 

Exclusive Jurisdiction 
Our amended and restated bylaws provide that, unless we consent to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall be the sole and exclusive forum for any derivative action or proceeding brought on our behalf, any action asserting a claim of breach of fiduciary duty, any action asserting a claim arising pursuant to the DGCL, any action regarding our amended and restated certificate of incorporation or amended and restated bylaws, or any action asserting a claim against us that is governed by the internal affairs doctrine. This provision does not apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the U.S. federal courts have exclusive jurisdiction. Our amended and restated bylaws further provide that the federal district courts of the United States of America are the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act. Any person or entity purchasing or otherwise acquiring any interest in our securities shall be deemed to have notice of and consented to these provisions. Although we believe these provisions benefit us by providing increased consistency in the application of law for the specified types of actions and proceedings, the provisions may have the effect of discouraging lawsuits against us or our directors and officers. There is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions in other companies’ charter documents has been challenged in legal proceedings. We also note that stockholders cannot waive compliance (or consent to noncompliance) with the federal securities laws and the rules and regulations thereunder. 
Business Combinations with Interested Stockholders 
We are governed by Section 203 of the DGCL. Subject to certain exceptions, Section 203 of the DGCL prohibits a public Delaware corporation from engaging in a business combination (as defined in such section) with an “interested stockholder” (defined generally as any person who beneficially owns 15% or more of the outstanding voting stock of such corporation or any person affiliated with such person) for a period of three years following the time that such stockholder became an interested stockholder, unless (1) prior to such time the board of directors of such corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder; (2) upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of such corporation at the time the transaction commenced (excluding for purposes of determining the voting stock of such corporation outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (a) by persons who are directors and also officers of such corporation and (b) by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer); or (3) at or subsequent to such time the business combination is approved by the board of directors of such corporation and authorized at a meeting of stockholders (and not by written consent) by the affirmative vote of at least 66 2/3% of the outstanding voting stock of such corporation not owned by the interested stockholder. 

Exhibit 4.3

Our amended and restated certificate of incorporation and our amended and restated bylaws provide that we must indemnify our directors and officers to the fullest extent authorized by the DGCL. We are expressly authorized to, and do, carry directors’ and officers’ insurance providing coverage for our directors, officers and certain employees for some liabilities. We believe that these indemnification provisions and insurance are useful to attract and retain qualified directors and executive officers. 

The limitation on liability and indemnification provisions in our certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our stockholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. 
Listing 
Our Class A common stock is listed on the Nasdaq Global Select Market under the symbol “RXRX.” 
Transfer Agent and Registrar 
The transfer agent and registrar for our Class A common stock is American Stock Transfer Trust Company, LLC. The transfer agent and registrar’s address is 6201 15th Avenue, Brooklyn, NY 11219.

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