Document:

EX-10.3

 Exhibit 10.3 

LOCK-UP AGREEMENT 

This LOCK-UP AGREEMENT (this “Agreement”) is dated as of December 23, 2021 and
is between Pardes Biosciences, Inc. (f/k/a FS Development Corp. II), a Delaware corporation (“PubCo”), and each of the stockholder parties identified on Exhibit A hereto (collectively, the “Stockholder
Parties”). 
 BACKGROUND: 

WHEREAS, reference is made to that certain Agreement and Plan of Merger, dated as of June 29, 2021 (as amended by Amendment
No. 1 to Agreements and Plan of Merger, dated as of November 7, 2021, the “Merger Agreement”), by and among PubCo, Orchard Merger Sub, Inc., a Delaware corporation, Shareholder Representative Service LLC, a Colorado
limited liability, as the Stockholders’ Representative, and Pardes Biosciences Sub, Inc. (f/k/a Pardes Biosciences, Inc.), a Delaware corporation; 

WHEREAS, all capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Merger
Agreement; 
 WHEREAS, as a result of the Merger Agreement, each Stockholder Party is, or shall be, the owner of record, or
beneficially of, certain shares of PubCo Common Stock or securities exercisable for PubCo Common Stock (the “Lock-Up Shares”) (provided, however, that with respect to
Foresite Capital Opportunity Fund V, L.P. and Foresite Capital Fund V, L.P. (together, the “Sponsor Stockholder Parties”), Lock-Up Shares will not include any shares of PubCo Common Stock
owned (of record or beneficially) by such Sponsor Stockholder Party as a result of either (i) the Subscription Agreement entered into by such Sponsor Stockholder Party contemporaneously with the Merger Agreement or (ii) the subscription
agreement entered into by such Stockholder Party pursuant to Section 5 of the Parent Support Agreement; and 
 WHEREAS, the
execution and delivery of this Agreement is a condition to the closing of the Merger and the other Transactions. 
 NOW, THEREFORE,
for and in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, PubCo and each Stockholder Party, intending to be legally
bound, agree as follows: 
 ARTICLE I 

INTRODUCTORY MATTERS 

1.1 Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings
when used herein with initial capital letters: 
 “Agreement” has the meaning set forth in the Preamble. 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder, as the same may be amended from time to time. 

“Lock-Up Period” has the meaning set forth in
Section 2.1(a). 
 “Lock-Up Shares” has the meaning set
forth in the Recitals. 
 “Merger Agreement” has the meaning set forth in the Recitals. 

“PubCo” has the meaning set forth in the Preamble. 

“Stockholder Parties” has the meaning set forth in the Preamble. 

“Transfer” has the meaning set forth in Section 2.1(b). 

1.2 Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rule of strict construction will be applied against any party. Unless the context otherwise requires: (a) “or” is disjunctive but not exclusive, (b) words in the singular include the plural, and in
the plural include the singular and (c) the words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision
of this Agreement, and Section references are to sections of this Agreement unless otherwise specified.  
 ARTICLE II 

LOCK-UP 

2.1 Lock-Up.  

(a) Each Stockholder Party agrees that such Stockholder Party shall not Transfer any Lock-Up Shares or
any securities convertible into or exercisable or exchangeable (directly or indirectly) for any Lock-Up Shares (whether such Lock-Up Shares or any such securities are
held by such Stockholder Party as of the date of this Agreement or are thereafter acquired) for a period of one-hundred eighty (180) days following the Closing Date (the “Lock-Up Period”). The foregoing restriction is expressly agreed to preclude each Stockholder Party during the Lock-Up Period from engaging in any hedging or other
transaction which is designed to, or which reasonably could be expected to, lead to or result in a sale or disposition of such Stockholder Party’s Lock-Up Shares even if such Lock-Up Shares would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions during the Lock-Up Period would include, without
limitation, any short sale or any purchase, sale or grant of any right (including, without limitation, any put or call option) with respect to any of the Stockholder Party’s Lock-Up Shares or with respect
to any security that includes, relates to, or derives any significant part of its value from such Lock-Up Shares. The foregoing notwithstanding, each executive officer and director of PubCo shall be permitted
to establish a plan to acquire and sell Lock-Up Shares pursuant to Rule 10b5-1 under the Exchange Act; provided, however, no sale of any Lock-Up Shares under any such plan shall be made prior to the expiration of the Lock-Up Period. 

 (b) For purposes of this Agreement, “Transfer” means to (i) sell,
offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase, make any short sale or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated thereunder, with respect to any Lock-Up Shares, or
any options or warrants to purchase any Lock-Up Shares or any securities convertible into, exchangeable for or that represent the right to receive Lock-Up Shares,
(ii) enter into any swap or hedging or other arrangement which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Lock-Up Shares, or that transfers
to another, in whole or in part, any of the economic consequences of ownership of any Lock-Up Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or
(iii) publicly announce any intention to effect any transaction, including the filing of a registration statement, described in clause (i) or (ii). Notwithstanding the foregoing, a Transfer shall not be deemed to include any
transfer for no consideration, provided that the donee, trustee, heir or other transferee has duly executed and delivered to PubCo a joinder to this Agreement in the form of Exhibit B attached hereto (in which case such recipient shall
be considered a Stockholder Party for all purposes of this Agreement). 
 (c) Each Stockholder Party also agrees and consents to the entry
of stop transfer instructions with PubCo’s transfer agent and registrar against the transfer of any Lock-Up Shares except in compliance with the foregoing restrictions and to the addition of a legend to
such Stockholder Party’s Lock-Up Shares describing the foregoing restrictions. 
 ARTICLE III

 REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER PARTIES 

3.1 Stockholder Representations and Warranties. Each Stockholder Party represents and warrants to PubCo as follows: 

(a) If Stockholder Party is not an individual, the Stockholder Party is a corporation, limited liability company or other applicable business
entity duly organized or formed, as applicable, validly existing and in good standing (or the equivalent thereof, if applicable, in each case, with respect to the jurisdictions that recognize the concept of good standing or any equivalent thereof)
under the Laws of its jurisdiction of formation or organization (as applicable). 
 (b) If Stockholder Party is not an individual, the
Stockholder Party has the requisite corporate, limited liability company or other similar power and authority to execute and deliver this Agreement, to perform its covenants, agreements and obligations hereunder (including, for the avoidance of
doubt, those covenants, agreements and obligations hereunder that relate to the provisions of the Merger Agreement), and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement has been duly authorized by all
necessary 

 
corporate (or other similar) action on the part of such Stockholder Party. This Agreement has been duly and validly executed and delivered by such Stockholder Party and constitutes a valid, legal
and binding agreement of each Stockholder Party (assuming that this Agreement is duly authorized, executed and delivered by PubCo), enforceable against each such Stockholder Party in accordance with its terms (subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other Laws affecting generally the enforcement of creditors’ rights and subject to general principles of equity). 

ARTICLE IV 
 GENERAL
PROVISIONS 
 4.1 Termination. This Agreement and the obligations of each Stockholder Party hereunder shall
automatically terminate on the last day of the Lock-Up Period. 
 4.2 Notices.
All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given) by delivery in person, by facsimile (having obtained electronic delivery confirmation
thereof) if applicable, e-mail (having obtained electronic delivery confirmation thereof (i.e., an electronic record of the sender that the email was sent to the intended recipient thereof without an
“error” or similar message that such email was not received by such intended recipient)), or by registered or certified mail (postage prepaid, return receipt requested) (upon receipt thereof) to the other parties as follows.  

PubCo’s address is: 
 2173
Salk Ave., Suite 250, PMB#052 
 Carlsbad, CA 92008 

Attn: Corporate Secretary 
 e-mail: elacy@pardesbio.com 
 with a copy (which shall not constitute notice) to: 

Goodwin Procter LLP 
 601 Marshall
Street 
 Redwood City, CA 94063 

Attn: Deepa Rich 
 Email:
DRich@goodwinlaw.com 
 Each Stockholder Party’s address is such address as such Stockholder Party shall furnish to PubCo in writing. 

4.3 Amendment; Waiver.  

(a) The terms and provisions of this Agreement may be modified or amended only with the written approval of PubCo (including the approval of
the member of the board of directors of PubCo nominated by the Sponsor) and the Stockholder Parties holding a majority of the Lock-Up Shares then held by all of the Stockholder Parties. 

 (b) Except as expressly set forth in this Agreement, neither the failure nor delay on the
part of any party hereto to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy power or privilege preclude any other or further
exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to
any other occurrence. 
 (c) No party shall be deemed to have waived any claim arising out of this Agreement, or any right, remedy, power or
privilege under this Agreement, unless the waiver of such claim, right, remedy, power or privilege is expressly set forth in a written instrument duly executed and delivered on behalf of such party; and any such waiver shall not be applicable or
have any effect except in the specific instance in which it is given. 
 4.4 Further Assurances. The parties hereto
will sign such further documents, cause such meetings to be held, resolutions passed, exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this
Agreement and every provision hereof. 
 4.5 Assignment; Successors. This Agreement may not be assigned without the
express prior written consent of the other parties hereto, and any attempted assignment, without such consents, will be null and void. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors
and permitted assigns. 
 4.6 Stock Splits, Stock Dividends, etc. In the event of any stock split, stock dividend,
recapitalization, reorganization or the like, any securities issued with respect to the Lock-Up Shares held by the Stockholder Parties shall become Lock-Up Shares for
purposes of this Agreement. 
 4.7 Governing Law. This Agreement and the legal relations between the parties arising
hereunder shall be governed by and interpreted in accordance with the laws of the State of Delaware without reference to its conflicts of law provisions. 

4.8 Jurisdiction; Waiver of Jury Trial. All Actions arising out of or relating to this Agreement shall be heard and
determined exclusively in any Delaware Chancery Court. The parties hereto hereby (i) submit to the exclusive jurisdiction of the Delaware Chancery Court for the purpose of any Action arising out of or relating to this Agreement brought by any
party hereto and (ii) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt
or immune from attachment or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereunder may not be enforced in or by any of the
above-named courts. 

 4.9 Specific Performance. Each party hereto acknowledges and agrees
that (a) in the event of any breach of this Agreement by any such party, the other parties hereto would be irreparably harmed monetary damages would not adequately compensate an injured party for the breach of this Agreement by any party
hereto, (b) this Agreement shall be specifically enforceable and (c) any breach or threatened of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto
(i) waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach, (ii) agrees that the other parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be
entitled to specific performance of this Agreement without the posting of a bond and (iii) agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties under this Agreement were not
carried out in accordance with the terms and conditions hereof. 
 4.10 Entire Agreement. This Agreement sets forth the
entire understanding of the parties hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof other than those expressly set forth
herein. This Agreement supersedes all other prior agreements and understandings between the parties with respect to such subject matter. 

4.11 Severability. If any provision of this Agreement, or the application of such provision to any Person or circumstance
or in any jurisdiction, shall be held to be invalid, illegal or unenforceable to any extent, (i) the remainder of this Agreement shall not be in any way affected or impaired thereby, and each other provision hereof shall be valid and
enforceable to the fullest extent permitted by Law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by Law and (iii) the
application of such provision to other Persons or circumstances or in other jurisdictions shall not be affected thereby. 
 4.12
Headings and Captions. The headings, subheadings and captions contained in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any
provision hereof. 
 4.13 Counterparts; Electronic Execution or Delivery. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. This Agreement may be executed electronically; any executed counterpart of this Agreement may be delivered by facsimile or electronic
mail; and any such electronically executed or delivered copy of a counterpart signature page shall have the same force and effect as an originally executed copy hereof. 

[Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the parties hereto have executed this
Lock-Up Agreement on the day and year first above written. 
  

			
	PARDES BIOSCIENCES, INC. (F/K/A FS DEVELOPMENT CORP. II)
		
	By:	 	 /s/ Uri A. Lopatin

	Name:	 	Uri A. Lopatin, M.D.
	Title:	 	Chief Executive Officer and President

 [Signature Page to Lockup Agreement] 

 
			
	STOCKHOLDER PARTIES:
	
	FORESITE CAPITAL FUND V, L.P.
	
	By: Foresite Capital Management V, LLC
	       Its General Partner
		
	By:	 	 /s/ Dennis D. Ryan

		 	Name: Dennis D. Ryan
		 	Title: Chief Financial Officer

  

			
	FORESITE CAPITAL OPPORTUNITY FUND V, L.P.
	
	By: Foresite Capital Opportunity Management V, LLC
	       Its General Partner
		
	By:	 	 /s/ Dennis D. Ryan

		 	Name: Dennis D. Ryan
		 	Title: Chief Financial Officer

  

			
	GMF PARDES LLC
		
	By:	 	 /s/ J. Jay Lobell

		 	Name: J. Jay Lobell
		 	Title: Managing Member

 [Signature Page to Lockup Agreement] 

 
			
	KHOSLA VENTURES VII, LP
	
	By: Khosla Ventures VII, LLC, a Delaware
	       limited liability company and general partner of
	       Khosla Ventures VII, LP
		
	By:	 	 /s/ John Dememter

		 	Name: John Demeter
		 	Title: General Counsel
	
	KHOSLA VENTURES SEED D, LP
	
	By: Khosla Ventures Seed Associates D, LLC, a
	       Delaware limited liability company and general
	       partner of Khosla Ventures Seed D, LP
		
	By:	 	 /s/ John Demeter

		 	Name: John Demeter
		 	Title: General Counsel

 [Signature Page to Lockup Agreement] 

 
			
	LOPATIN DESCENDANTS’ TRUST
		
	By:	 	 /s/ Uri A. Lopatin

		 	Name: Uri A. Lopatin
		 	Title: Trustee

 
			
		
	By:	 	 /s/ Katherine Lopatin

		 	Name: Katherine Lopatin
		 	Title: Trustee

  

			
	Uri A. Lopatin, M.D.
		
	Signature:	 	 /s/ Uri Lopatin

	
	Lee D. Arnold, Ph.D.
		
	Signature:	 	 /s/ Lee D. Arnold

	
	Brian P. Kearney, PharmD
		
	Signature:	 	 /s/ Brian P. Kearney

	
	Heidi Henson
		
	Signature:	 	 /s/ Heidi Henson

	
	Elizabeth H. Lacy
		
	Signature:	 	 /s/ Elizabeth H. Lacy

 [Signature Page to Lockup Agreement] 

 EXHIBIT A 

STOCKHOLDER PARTIES 
  

	 	1.	 Khosla Ventures VII, LP 

 

	 	2.	 Khosla Ventures Seed D, LP 

 

	 	3.	 Foresite Capital Fund V, L.P. 

 

	 	4.	 Uri Lopatin 

  

	 	5.	 Lopatin Descendants’ Trust 

 

	 	6.	 GMF Pardes LLC 

  

	 	7.	 Lee Arnold 

  

	 	8.	 Foresite Capital Opportunity Fund V, L.P. 

 

	 	9.	 Brian P. Kearney 

  

	 	10.	 Heidi Henson 

  

	 	11.	 Elizabeth Lacy 

 EXHIBIT B 

FORM OF JOINDER TO LOCK-UP AGREEMENT 

[                ], 20    

 The undersigned (“New Stockholder Party”) is executing and delivering this Joinder (this “Joinder”) to the Lock-Up Agreement, dated as of [•], 2021, by and between Pardes Biosciences, Inc. (f/k/a FS Development Corp. II) (“PubCo”) and the Stockholder Parties from time to time party thereto (as
amended from time to time, the “Lock-Up Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Lock-Up Agreement. 
 The New Stockholder Party received Lock-Up Shares from a
Stockholder Party pursuant to and in accordance with the Lock-Up Agreement. By executing and delivering this Joinder to PubCo, the undersigned New Stockholder Party hereby agrees to become a party to, to be
bound by and to comply with the provisions of the Lock-Up Agreement as Stockholder Party and a holder of Lock-Up Shares in the same manner as if the undersigned were an
original signatory to the Lock-Up Agreement. 
 This Joinder may be executed in multiple counterparts, including by
means of facsimile or electronic signature, each of which shall be deemed an original, but all of which together shall constitute the same instrument. 

[Remainder of Page Intentionally Left Blank.] 

 IN WITNESS WHEREOF, the undersigned have duly executed this joinder as of the date first set forth above.

  

			
	NEW STOCKHOLDER PARTY:
	
	[Name of New Stockholder Party]
		
	By:	 	  

		 	Name:
		 	Title

  

			
	PARDES BIOSCIENCES, INC.
		
	By:	 	  

		 	Name:
		 	Title:EX-10.5

 Exhibit 10.5 

ASSUMED INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Optionee:	  	                                      
                                         
 
		
	No. of Option Shares:	  	                                      
  
		  	[Reflects original Option Shares as adjusted per 3.1(b) of Merger Agreement]
		
	Option Exercise Price per Share:	  	$                                      

		  	[FMV on Grant Date (110% of FMV if a 10% owner), as adjusted per 3.1(b) of Merger Agreement]
		
	Original Grant Date of
Assumed Option:	  	                                     
   
		
	Date Assumed:	  	                                      
  
		
	[Vesting/Exercisability Date:	  	                                      
  ]
		
	Expiration Date:	  	                                      
  
		  	[up to 10 years (5 if a 10% owner)]

 Reference is made to that certain Agreement and Plan of Merger dated June 29, 2021, as amended as of
November 7, 2021 (the “Merger Agreement”), by and among the Pardes Biosciences, Inc., f/k/a FS Development Corp. II, (the “Company”), Pardes Biosciences, Inc., Orchard Merger Sub, Inc. and Shareholder Representative Services
LLC, as Stockholders’ Representative. This incentive stock option agreement evidences the incentive stock option award granted to Optionee (the “Assumed Option”) under the Pardes Biosciences, Inc. 2020 Stock Plan (the “2020
Plan”). Pursuant to Section 3.1(b) of the Merger Agreement, the Assumed Option was assumed by the Company as of the Effective Time (as defined in the Merger Agreement) and continues in full force and effect under the Pardes Biosciences,
Inc. 2021 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”). Subject to difference between the Plan and the 2020 Plan, which are not deemed material or adverse to Optionee, the Assumed Option documented by
this incentive stock option agreement contains substantially the same terms, conditions, vesting and other material provisions as the Assumed Option prior to the Effective Time, except that the number of shares and per share exercise price have been
adjusted as provided in Section 3.1(b)(ii) of the Merger Agreement. From the Effective Time, your Assumed Option shall solely be governed by this incentive stock option agreement and the Plan. As of the Effective Time, all Assumed Options shall
no longer be outstanding under the 2020 Plan and the Optionee shall cease to have any rights with respect to such Assumed Option, except as provided in this incentive stock option agreement and the Plan. 

 Pursuant to the Plan and as of the Effective Date Optionee named above has an option (the
“Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.0001 per share (the “Stock”), of the Company specified above at the Option Exercise
Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. 
 1. Exercisability Schedule.
No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the
exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a
Subsidiary on such dates: 
  

			
	 Incremental Number of
Option Shares
Exercisable*
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

  

	*	 Max. Option Share value of $100,000 per yr. 

[Non-Executive Stock Options: Notwithstanding the foregoing, in the event of a Sale Event, upon
a termination of Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate) in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested
Option Shares shall immediately be deemed vested and exercisable effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior
to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. In the event of a Sale Event, if the Company’s successor (which, for the purposes of this provision, is the acquirer of the Company’s assets
in a Sale Event resulting from the sale of all or substantially all of the Company’s assets) does not agree to assume this Stock Option, or to substitute an equivalent award or right for this Stock Option, and Optionee remains in a Service
Relationship through the consummation of such Sale Event, and does not voluntarily resign without continuing with the Company’s successor, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the
same extent as if Optionee had been terminated without Cause as described above, effective immediately prior to, and contingent upon, the consummation of such Sale Event. If Optionee is a director but not an employee or Consultant of the Company (or
a successor, if appropriate) at the time of consummation of the Sale Event and Optionee is removed from, or is not reelected to, the Board (or the Board of a successor, as appropriate) in connection with or following the consummation of a Sale
Event, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without Cause as described above. 

  
 2 

 Executive Stock Options: Notwithstanding the foregoing, in the event of a Sale Event,
upon a termination of Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate) or if Optionee resigns for Good Reason (as defined below) in connection with or within three months following the consummation
of a Sale Event (or such other protected period provided for in the Optionee’s Executive Employment Agreement (as defined below)), then 100% of the then outstanding and unvested Option Shares shall immediately be deemed vested and exercisable
effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the
provisions hereof and of the Plan. In the event of a Sale Event, if the Company’s successor (which, for the purposes of this provision, is the acquirer of the Company’s assets in a Sale Event resulting from the sale of all or substantially
all of the Company’s assets) does not agree to assume this Stock Option, or to substitute an equivalent award or right for this Stock Option, and Service Provider remains in a Service Relationship through the consummation of such Sale Event,
and does not voluntarily resign without continuing with the Company’s successor, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without
Cause as described above, effective immediately prior to, and contingent upon, the consummation of such Sale Event. If Optionee is a director but not an employee or Consultant of the Company (or a successor, if appropriate) at the time of
consummation of the Sale Event and Optionee is removed from, or is not reelected to, the Board (or the Board of a successor, as appropriate) in connection with or following the consummation of a Sale Event, then the vesting of this Stock Option
shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without Cause as described above. As used herein, “Good Reason” will have the meaning assigned to such term in the
Optionee’s executive offer letter dated as of [INSERT DATE]1 (the “Employment Agreement”). Notwithstanding the foregoing, the vesting of this Stock Option shall accelerate such that
this Stock Option shall become vested as to Option Shares then unvested in connection with Optionee’s termination of Service Relationship by the Company (or a successor, if appropriate) without Cause or by the Optionee for Good Reason as
provided in, and subject to the terms and conditions of, Optionee’s Employment Agreement.]2 

2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
 Payment of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash,
(ii) by check or (iii) by Cashless Exercise. For purposes hereof, “Cashless Exercise” means a program approved by the Administrator in which payment of the exercise price or tax withholding obligations or other required
deductions may be satisfied, in whole or in part, with Option Shares, including by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Company) to sell Options Shares and to deliver all or part of the sale
proceeds to the Company in payment of such amount. Payment instruments will be received subject to collection. 
  

	1 	 Note to Draft: To include the date of the Optionee’s offer letter with the Company. 

	2 	 Note to Draft: To select and conform to the language in the original grant agreement.

  
 3 

 The transfer to the Optionee on the records of the Company or of the transfer agent of the
Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or
in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise
of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the
attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of
the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the
Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless
and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of
record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. If the Optionee’s Service Relationship with the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination or extension as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, or if Optionee dies during the three-month period following termination of the Optionee’s Service Relationship for any other reason other than for Cause, any portion of this Stock Option outstanding on the date of
termination, to the extent exercisable on the date of termination, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any
portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
 4 

 (b) Termination Due to Disability. If the Optionee’s Service Relationship with
the Company or a Subsidiary terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may
thereafter be exercised by the Optionee for a period of 12 months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock
Option that is not exercisable on the date of the termination of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by Optionee of any material written agreement between Optionee and the Company and
Optionee’s failure to cure such breach within 30 days after receiving written notice thereof; (ii) any failure by Optionee to comply with the Company’s material written policies or rules as they may be in effect from time to time;
(iii) neglect or persistent unsatisfactory performance of Optionee’s duties and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (iv) Optionee’s repeated failure to follow
reasonable and lawful instructions from the [Board]3 [Board or Chief Executive Officer]4 and Optionee’s failure to cure such condition
within 30 days after receiving written notice thereof; (v) Optionee’s conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of
the Company; (vi) Optionee’s commission of or participation in an act of fraud against the Company; (vii) Optionee’s intentional material damage to the Company’s business, property or reputation; or
(viii) Optionee’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Optionee owes an obligation of nondisclosure as a result of his or her relationship with the
Company. For purposes of clarity, a termination without “Cause” does not include any termination that occurs as a result of Optionee’s death or disability. The foregoing definition does not in any way limit the Company’s ability
to terminate a Optionee’s employment or consulting relationship at any time, and the term “Company” will be interpreted to include any Affiliate or any successor thereto, if appropriate.. 

(d) Other Termination. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for any reason other
than the Optionee’s death, the Optionee’s disability, or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of
termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further
force or effect. 
  

	3 	 For the CEO 

	4 	 For all other employees. 

  
 5 

 The Administrator’s determination of the reason for termination of the Optionee’s
Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. Status of the Stock Option. This Stock Option is intended to remain
qualified as an “incentive stock option” to the extent possible under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that this Stock Option qualifies
as such. The Optionee should consult with his or her own tax advisors regarding the tax effects of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not
limited to, holding period requirements and that this Stock Option must be exercised within three months after termination of employment as an employee (or 12 months in the case of death or disability) to qualify as an “incentive stock
option.” To the extent any portion of this Stock Option does not so qualify as an “incentive stock option,” such portion shall be deemed to be a non-qualified stock option. If the
Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any Option Shares within the one-year period beginning on the date after the transfer of such shares to him or her,
or within the two-year period beginning on the day after the grant of this Stock Option, he or she will so notify the Company within 30 days after such disposition. 

7. Tax Withholding. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event
for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. To the extent applicable,
the Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair
Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Optionee, the number of shares of Stock necessary to satisfy the Federal, state and
local taxes required by law to be withheld from the Optionee on account of such transfer. 
 8. No Obligation to Continue Service
Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall
interfere in any way with the right of the Company or any Subsidiary to terminate the Optionee’s Service Relationship with the Company or a Subsidiary at any time. 

  
 6 

 9. Integration. This Agreement constitutes the entire agreement between the parties
with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter, including that certain Notice of Stock Option Grant and Stock Option Agreement executed by Optionee dated as of
[INSERT DATE]5 issued under the Pardes Biosciences, Inc. 2020 Stock Plan. 
 10.
Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant
Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or
desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant
Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and
(iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will
only be used in accordance with applicable law. 
 11. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

12. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Optionee’s
current or future participation in the Plan by electronic means or to request Optionee’s consent to participate in the Plan by electronic means. Optionee hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

 

	5 	 Note to Draft: Insert date of execution of the original grant by optionee. 

  
 7 

 
			
	Pardes Biosciences, Inc.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

			
	Dated: ________________________________________	  	   

		  	Optionee’s Signature
		
		  	Optionee’s name and address:
		
		  	 
		
		  	 
		
		  	 

  
 8 

 ASSUMED NON-QUALIFIED STOCK OPTION AGREEMENT

 FOR COMPANY CONSULTANTS 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	 Name of Optionee:
	  	                                    
                                         
   
		
	 No. of Option Shares:
	  	                                    
    
		  	 [Reflects original Option Shares as adjusted per 3.1(b) of Merger
Agreement]

		
	 Option Exercise Price per Share:
	  	$                                    
    
		  	 [FMV on Grant Date, as adjusted per 3.1(b) of Merger Agreement]

		
	 Original Grant Date of

Assumed Option:
	  	                                    
    
		
	 Date Assumed:
	  	                                     
   
		
	 [Vesting/Exercisability Date
	  	                                    
     ]
		
	 Expiration Date:
	  	                                    
    

 Reference is made to that certain Agreement and Plan of Merger dated June 29, 2021, as amended as of
November 7, 2021 (the “Merger Agreement”), by and among the Pardes Biosciences, Inc., f/k/a FS Development Corp. II, (the “Company”), Pardes Biosciences, Inc., Orchard Merger Sub, Inc. and Shareholder Representative Services
LLC, as Stockholders’ Representative. This non-qualified stock option agreement evidences the non-qualified stock option award granted to Optionee (the
“Assumed Option”) under the Pardes Biosciences, Inc. 2020 Stock Plan (the “2020 Plan”). Pursuant to Section 3.1(b) of the Merger Agreement, the Assumed Option was assumed by the Company as of the Effective Time (as defined
in the Merger Agreement) and continues in full force and effect under the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”). Subject to difference between the Plan and the 2020
Plan, which are not deemed material or adverse to Optionee, the Assumed Option documented by this non-qualified stock option agreement contains substantially the same terms, conditions, vesting and other
material provisions as the Assumed Option prior to the Effective Time, except that the number of shares and per share exercise price have been adjusted as provided in Section 3.1(b)(ii) of the Merger Agreement. From the Effective Time, your
Assumed Option shall solely be governed by this non-qualified stock option agreement and the Plan. As of the Effective Time, all Assumed Options shall no longer be outstanding under the 2020 Plan and the
Optionee shall cease to have any rights with respect to such Assumed Option, except as provided in this non-qualified stock option agreement and the Plan. 

 Pursuant to the Plan and as of the Effective Time, Optionee named above has an option (the
“Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above at the Option Exercise
Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as
amended. 
 1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become
exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable as follows: 

[_______________________________________], so long as Optionee continues to have a Service Relationship with the Company or a Subsidiary on
such dates. 
 [Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of Optionee’s Service Relationship
without Cause by the Company (or a successor, if appropriate) in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested Option Shares shall immediately be deemed vested and
exercisable effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date,
subject to the provisions hereof and of the Plan. In the event of a Sale Event, if the Company’s successor (which, for the purposes of this provision, is the acquirer of the Company’s assets in a Sale Event resulting from the sale of all
or substantially all of the Company’s assets) does not agree to assume this Stock Option, or to substitute an equivalent award or right for this Stock Option, and Optionee remains in a Service Relationship through the consummation of such Sale
Event, and does not voluntarily resign without continuing with the Company’s successor, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated
without Cause as described above, effective immediately prior to, and contingent upon, the consummation of such Sale Event. If Optionee is a director but not an employee or Consultant of the Company (or a successor, if appropriate) at the time of
consummation of the Sale Event and Optionee is removed from, or is not reelected to, the Board (or the Board of a successor, as appropriate) in connection with or following the consummation of a Sale Event, then the vesting of this Stock Option
shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without Cause as described above.]6 

Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration
Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
  

	6 	 Note to Draft: To conform to the language in the original grant agreement. 

  
 2 

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, (ii) by check or (iii) by Cashless Exercise. For purposes hereof, “Cashless Exercise” means a program approved by the Administrator in which payment of the exercise price or tax withholding
obligations or other required deductions may be satisfied, in whole or in part, with Option Shares, including by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Company) to sell Options Shares and to deliver
all or part of the sale proceeds to the Company in payment of such amount. Payment instruments will be received subject to collection. In addition, to the extent that (A) this Stock Option is vested and remains outstanding and has not been
exercised by the Optionee as of the Expiration Date and (B) the Fair Market Value of the Stock exceeds the exercise price of the Stock Option on such date, then this Stock Option shall automatically be exercised on the Expiration Date (without
any action required on the part of the Optionee) pursuant to the “net exercise” arrangement described in (iv), above. 
 The
transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above,
(ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require
to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the
Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to.

 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company
or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the
Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless
and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of
record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. Except as may otherwise be provided by the Administrator, if the Optionee’s
Service Relationship with the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination or extension as set forth below. 

  
 3 

 (a) Termination Due to Death. If the Optionee’s Service Relationship with the
Company or a Subsidiary terminates by reason of the Optionee’s death, or if Optionee dies during the three-month period following termination of the Optionee’s Service Relationship for any other reason other than for Cause, any portion of
this Stock Option outstanding on the date of termination, to the extent exercisable on the date of termination, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or
until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of
the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12
months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of the termination
of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in a consulting or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by Optionee of any material written agreement between Optionee and the Company and Optionee’s
failure to cure such breach within 30 days after receiving written notice thereof; (ii) any failure by Optionee to comply with the Company’s material written policies or rules as they may be in effect from time to time; (iii) neglect
or persistent unsatisfactory performance of Optionee’s duties and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (iv) Optionee’s repeated failure to follow reasonable and lawful
instructions from the Chief Executive Officer and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (v) Optionee’s conviction of, or plea of guilty or nolo contendere to, any crime that
results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (vi) Optionee’s commission of or participation in an act of fraud against the Company; (vii) Optionee’s intentional
material damage to the Company’s business, property or reputation; or (viii) Optionee’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Optionee owes an
obligation of nondisclosure as a result of his or her relationship with the Company. For purposes of clarity, a termination without “Cause” does not include any termination that occurs as a result of Optionee’s death or disability.
The foregoing definition does not in any way limit the Company’s ability to terminate a Optionee’s employment or consulting relationship at any time, and the term “Company” will be interpreted to include any Affiliate or any
successor thereto, if appropriate. 

  
 4 

 (d) Other Termination. If the Optionee’s Service Relationship with the Company
or a Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be
exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination
shall terminate immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of
the Optionee’s Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. No Obligation to Continue Service Relationship. Neither the Company nor
any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee’s Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of
the Company or any Subsidiary to terminate the Optionee’s Service Relationship with the Company or a Subsidiary at any time. 
 7.
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter, including that certain
Notice of Stock Option Grant and Stock Option Agreement executed by Optionee dated as of [INSERT DATE]7 issued under the Pardes Biosciences, Inc. 2020 Stock Plan. 

8. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

 

	7 	 Note to Draft: Insert date of execution of the original grant by optionee.

  
 5 

 9. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

10. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Optionee’s current or
future participation in the Plan by electronic means or to request Optionee’s consent to participate in the Plan by electronic means. Optionee hereby consents to receive such documents by electronic delivery and agrees to participate in the
Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

 

			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 

			
		
	 Dated: ___________________________________________
	  	   

		  	 Optionee’s Signature

		
		  	 Optionee’s name and address:

		
		  	 
		
		  	 
		
		  	 

  
 6 

 ASSUMED NON-QUALIFIED STOCK OPTION AGREEMENT

 FOR NON-EMPLOYEE DIRECTORS 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	 Name of Optionee:
	  	                                    
                                         
   
		
	 No. of Option Shares:
	  	                                    
    
		  	 [Reflects original Option Shares as adjusted per 3.1(b) of Merger
Agreement]

		
	 Option Exercise Price per Share:
	  	$                                    
    
		  	 [FMV on Grant Date, as adjusted per 3.1(b) of Merger Agreement]

		
	 Grant Date of Assumed Option:
	  	                                    
    
		
	 [Vesting/Exercisability Date:
	  	                                     
    ]
		
	 Expiration Date:
	  	                                    
    
		  	[No more than 10 years]

 Reference is made to that certain Agreement and Plan of Merger dated June 29, 2021, as amended as of
November 7, 2021 (the “Merger Agreement”), by and among the Pardes Biosciences, Inc., f/k/a FS Development Corp. II, (the “Company”), Pardes Biosciences, Inc., Orchard Merger Sub, Inc. and Shareholder Representative Services
LLC, as Stockholders’ Representative. This non-qualified stock option agreement evidences the non-qualified stock option award granted to Optionee (the
“Assumed Option”) under the Pardes Biosciences, Inc. 2020 Stock Plan (the “2020 Plan”). Pursuant to Section 3.1(b) of the Merger Agreement, the Assumed Option was assumed by the Company as of the Effective Time (as defined
in the Merger Agreement) and continues in full force and effect under the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”). Subject to difference between the Plan and the 2020
Plan, which are not deemed material or adverse to Optionee, the Assumed Option documented by this non-qualified stock option agreement contains substantially the same terms, conditions, vesting and other
material provisions as the Assumed Option prior to the Effective Time, except that the number of shares and per share exercise price have been adjusted as provided in Section 3.1(b)(ii) of the Merger Agreement. From the Effective Time, your
Assumed Option shall solely be governed by this non-qualified stock option agreement and the Plan. As of the Effective Time, all Assumed Options shall no longer be outstanding under the 2020 Plan and the
Optionee shall cease to have any rights with respect to such Assumed Option, except as provided in this non-qualified stock option agreement and the Plan. 

 Pursuant to the Plan and as of the Effective Time, Optionee named above, who is a Non-Employee Director of the Company but is not an employee of the Company, has an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of
shares of Common Stock, par value $0.0001 per share (the “Stock”), of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock
Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except
as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of
Option Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a Subsidiary on such dates: 
  

			
	 Incremental Number of
Option Shares
Exercisable
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

Notwithstanding the foregoing, in the event of a Sale Event, 100% of the then-outstanding and unvested Option Shares shall immediately be
deemed vested and exercisable on the date of such Sale Event; provided, that the Optionee remains in service as a member of the Board until the date of such Sale Event. Once exercisable, this Stock Option shall continue to be exercisable at any time
or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of
Exercise. 
 (a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the
Expiration Date of this Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of
Option Shares to be purchased. 
 Payment of the purchase price for the Option Shares may be made by one or more of the following methods:
(i) in cash, (ii) by check or (iii) by Cashless Exercise. For purposes hereof, “Cashless Exercise” means a program approved by the Administrator in which payment of the exercise price or tax withholding obligations or other
required deductions may be satisfied, in whole or in part, with Option Shares, including by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Company) to sell Options Shares and to deliver all or part of the
sale proceeds to the Company in payment of such amount. 

  
 2 

 The transfer to the Optionee on the records of the Company or of the transfer agent of the
Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or
in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise
of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the
attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of
the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the
Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless
and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of
record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. Except as may otherwise be provided by the Administrator, if the Optionee’s
Service Relationship with the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, or if Optionee dies during the three-month period following termination of the Optionee’s Service Relationship for any other reason other than for Cause, any portion of this Stock Option outstanding on the date of
termination, to the extent exercisable on the date of termination, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any
portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of
the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12
months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of the termination
of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

  
 3 

 (c) Termination for Cause. If the Optionee’s Service Relationship with the
Company or a Subsidiary terminates for Cause, any portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided
in a consulting or other service agreement between the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by Optionee of any material written agreement
between Optionee and the Company and Optionee’s failure to cure such breach within 30 days after receiving written notice thereof; (ii) any failure by Optionee to comply with the Company’s material written policies or rules as they
may be in effect from time to time; (iii) neglect or persistent unsatisfactory performance of Optionee’s duties and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof;
(iv) Optionee’s repeated failure to follow reasonable and lawful instructions from the Board Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (v) Optionee’s conviction of, or
plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (vi) Optionee’s commission of or participation in an act of fraud against
the Company; (vii) Optionee’s intentional material damage to the Company’s business, property or reputation; or (viii) Optionee’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company
or any other party to whom the Optionee owes an obligation of nondisclosure as a result of his or her relationship with the Company. For purposes of clarity, a termination without “Cause” does not include any termination that occurs as a
result of Optionee’s death or disability. The foregoing definition does not in any way limit the Company’s ability to terminate a Optionee’s employment or consulting relationship at any time, and the term “Company” will be
interpreted to include any Affiliate or any successor thereto, if appropriate. 
 (d) Other Termination. If the Optionee’s
Service Relationship with the Company or a Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option
outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not
exercisable on the date of termination shall terminate immediately and be of no further force or effect. 
 4. Incorporation of Plan.
Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms
in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein. 
 5.
Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and
distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 

  
 4 

 6. No Obligation to Continue as a Non-Employee
Director. Neither the Plan nor this Stock Option confers upon the Optionee any rights with respect to continuance as a Non-Employee Director or in any other Service Relationship. 

7. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes
all prior agreements and discussions between the parties concerning such subject matter. 
 8. Data Privacy Consent. In order to
administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or
professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this
Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any
privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information
to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

9. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 5 

 
			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

							
				
	 Dated:
	 	   
	 		 	   

		 		 		 	 Optionee’s Signature

				
		 		 		 	 Optionee’s name and address:

				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 

  
 6 

 ASSUMED NON-QUALIFIED STOCK OPTION AGREEMENT

 FOR COMPANY EMPLOYEES 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Optionee:	  	                                    
                                        
    
		
	No. of Option Shares:	  	                                    
    
		  	[Reflects original Option Shares as adjusted per 3.1(b) of Merger Agreement]
		
	Option Exercise Price per Share:	  	$                                    
    
		  	[FMV on Grant Date, as adjusted per 3.1(b) of Merger Agreement]
		
	Original Grant Date of
Assumed Option:	  	                                    
     
		
	Date Assumed:	  	                                     
   
		
	 [Vesting/Exercisability Date
	  	____________________]
		
	Expiration Date:	  	                                    
    

 Reference is made to that certain Agreement and Plan of Merger dated June 29, 2021, as amended as of
November 7, 2021 (the “Merger Agreement”), by and among the Pardes Biosciences, Inc., f/k/a FS Development Corp. II, (the “Company”), Pardes Biosciences, Inc., Orchard Merger Sub, Inc. and Shareholder Representative Services
LLC, as Stockholders’ Representative. This non-qualified stock option agreement evidences the non-qualified stock option award granted to Optionee (the
“Assumed Option”) under the Pardes Biosciences, Inc. 2020 Stock Plan (the “2020 Plan”). Pursuant to Section 3.1(b) of the Merger Agreement, the Assumed Option was assumed by the Company as of the Effective Time (as defined
in the Merger Agreement) and continues in full force and effect under the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date hereof (the “Plan”). Subject to difference between the Plan and the 2020
Plan, which are not deemed material or adverse to Optionee, the Assumed Option documented by this non-qualified stock option agreement contains substantially the same terms, conditions, vesting and other
material provisions as the Assumed Option prior to the Effective Time, except that the number of shares and per share exercise price have been adjusted as provided in Section 3.1(b)(ii) of the Merger Agreement. From the Effective Time, your
Assumed Option shall solely be governed by this non-qualified stock option agreement and the Plan. As of the Effective Time, all Assumed Options shall no longer be outstanding under the 2020 Plan and the
Optionee shall cease to have any rights with respect to such Assumed Option, except as provided in this non-qualified stock option agreement and the Plan. 

 Pursuant to the Plan and as of the Effective Date, Optionee named above has an option (the
“Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above at the Option Exercise
Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as
amended. 
 1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become
exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the
following number of Option Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a Subsidiary on such dates: 

 

			
	 Incremental Number of
Option Shares
Exercisable
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

 [Non-Executive Stock Options: Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate)
in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested Option Shares shall immediately be deemed vested and exercisable effective immediately prior to such termination of
Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. In the event of
a Sale Event, if the Company’s successor (which, for the purposes of this provision, is the acquirer of the Company’s assets in a Sale Event resulting from the sale of all or substantially all of the Company’s assets) does not agree
to assume this Stock Option, or to substitute an equivalent award or right for this Stock Option, and Optionee remains in a Service Relationship through the consummation of such Sale Event, and does not voluntarily resign without continuing with the
Company’s successor, then the vesting of this Stock Option shall accelerate such that this Stock Options shall be vested to the same extent as if Optionee had been terminated without Cause as described above, effective immediately prior to, and
contingent upon, the consummation of such Sale Event. If Optionee is a director but not an employee or Consultant of the Company (or a successor, if appropriate) at the time of consummation of the Sale Event and Optionee is removed from, or is not
reelected to, the Board (or the Board of a successor, as appropriate) in connection with or following the consummation of a Sale Event, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the same
extent as if Optionee had been terminated without Cause as described above. 

  
 2 

 Executive Stock Options: Notwithstanding the foregoing, in the event of a Sale Event,
upon a termination of Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate) or if Optionee resigns for Good Reason (as defined below) in connection with or within three months following the consummation
of a Sale Event (or such other protected period provided for in the Optionee’s Executive Employment Agreement (as defined below)), then 100% of the then outstanding and unvested Option Shares shall immediately be deemed vested and exercisable
effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the
provisions hereof and of the Plan. In the event of a Sale Event, if the Company’s successor (which, for the purposes of this provision, is the acquirer of the Company’s assets in a Sale Event resulting from the sale of all or substantially
all of the Company’s assets) does not agree to assume this Stock Option, or to substitute an equivalent award or right for this Stock Option, and Service Provider remains in a Service Relationship through the consummation of such Sale Event,
and does not voluntarily resign without continuing with the Company’s successor, then the vesting of this Stock Option shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without
Cause as described above, effective immediately prior to, and contingent upon, the consummation of such Sale Event. If Optionee is a director but not an employee or Consultant of the Company (or a successor, if appropriate) at the time of
consummation of the Sale Event and Optionee is removed from, or is not reelected to, the Board (or the Board of a successor, as appropriate) in connection with or following the consummation of a Sale Event, then the vesting of this Stock Option
shall accelerate such that this Stock Option shall be vested to the same extent as if Optionee had been terminated without Cause as described above. As used herein, “Good Reason” will have the meaning assigned to such term in the
Optionee’s executive offer letter dated as of [INSERT DATE]8 (the “Employment Agreement”). Notwithstanding the foregoing, the vesting of this Stock Option shall accelerate such that
this Stock Option shall become vested as to Option Shares then unvested in connection with Optionee’s termination of Service Relationship by the Company (or a successor, if appropriate) without Cause or by the Optionee for Good Reason as
provided in, and subject to the terms and conditions of, Optionee’s Employment Agreement.]9 

2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
  

	8 	 Note to Draft: To include the date of the Optionee’s offer letter with the Company. 

	9 	 Note to Draft: To select and conform to the language in the original grant agreement.

  
 3 

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, (ii) by check (iii) by Cashless Exercise. For purposes hereof, “Cashless Exercise” means a program approved by the Administrator in which payment of the exercise price or tax withholding
obligations or other required deductions may be satisfied, in whole or in part, with Option Shares, including by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Company) to sell Options Shares and to deliver
all or part of the sale proceeds to the Company in payment of such amount. 
 The transfer to the Optionee on the records of the Company or
of the transfer agent of the Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements
contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be
purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations (including the satisfaction of any taxes that the Company or an Affiliate
is obligated to withhold with respect to the optionee). In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon
the exercise of the Stock Option shall be net of the Shares attested to. 
 (b) The shares of Stock purchased upon exercise of this Stock
Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer
and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder
with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the
Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. If the Optionee’s Service Relationship with the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination or extension as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, or if Optionee dies during the three-month period following termination of the Optionee’s Service Relationship for any other reason other than for Cause, any portion of this Stock Option outstanding on the date of
termination, to the extent exercisable on the date of termination, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any
portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
 4 

 (b) Termination Due to Disability. If the Optionee’s Service Relationship with
the Company or a Subsidiary terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may
thereafter be exercised by the Optionee for a period of 12 months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock
Option that is not exercisable on the date of the termination of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by Optionee of any material written agreement between Optionee and the Company and Optionee’s
failure to cure such breach within 30 days after receiving written notice thereof; (ii) any failure by Optionee to comply with the Company’s material written policies or rules as they may be in effect from time to time; (iii) neglect
or persistent unsatisfactory performance of Optionee’s duties and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (iv) Optionee’s repeated failure to follow reasonable and lawful
instructions from the Board or Chief Executive Officer and Optionee’s failure to cure such condition within 30 days after receiving written notice thereof; (v) Optionee’s conviction of, or plea of guilty or nolo contendere to, any
crime that results in, or is reasonably expected to result in, material harm to the business or reputation of the Company; (vi) Optionee’s commission of or participation in an act of fraud against the Company; (vii) Optionee’s
intentional material damage to the Company’s business, property or reputation; or (viii) Optionee’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Optionee
owes an obligation of nondisclosure as a result of his or her relationship with the Company. For purposes of clarity, a termination without “Cause” does not include any termination that occurs as a result of Optionee’s death or
disability. The foregoing definition does not in any way limit the Company’s ability to terminate a Optionee’s employment or consulting relationship at any time, and the term “Company” will be interpreted to include any Affiliate
or any successor thereto, if appropriate. 
 (d) Other Termination. If the Optionee’s Service Relationship with the Company or a
Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised, to
the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall
terminate immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of the
Optionee’s Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

  
 5 

 4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock
Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the
Plan, unless a different meaning is specified herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s
lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 
 6. Tax Withholding.
The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal,
state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares
of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to
the Optionee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law to be withheld from the Optionee on account of such transfer. 

7. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or
this Agreement to continue the Optionee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Optionee’s
Service Relationship with the Company or a Subsidiary at any time. 
 8. Integration. This Agreement constitutes the entire agreement
between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter, including that certain Notice of Stock Option Grant and Stock Option Agreement executed by
Optionee dated as of [INSERT DATE]10 issued under the Pardes Biosciences, Inc. 2020 Stock Plan. 

9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

 

	10 	 Note to Draft: Insert date of execution of the original grant by optionee.

  
 6 

 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

11. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to Optionee’s current or
future participation in the Plan by electronic means or to request Optionee’s consent to participate in the Plan by electronic means. Optionee hereby consents to receive such documents by electronic delivery and agrees to participate in the
Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

 

			
	Pardes Biosciences, Inc.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

							
	Dated:	 	 	 		 	 
		 		 		 	Optionee’s Signature
				
	  
	 	  
	 		 	Optionee’s name and address:
				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 

  
 7 

 ASSUMED RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
		
	Name of Grantee:	  	                                      
  
		
	No. of Shares:	  	                                      
  
		  	[Reflects original Shares as adjusted per 3.1(c) of Merger Agreement]
		
	Original Grant Date	  	                                      
  
		
	Date Assumed:	  	                                      
  
		
	Vesting Date:	  	                                      
  

 Reference is made to that certain Agreement and Plan of Merger dated June 29, 2021, as amended as of
November 7, 2021 (the “Merger Agreement”), by and among the Pardes Biosciences, Inc., f/k/a FS Development Corp. II, (the “Company”), Pardes Biosciences, Inc., Orchard Merger Sub, Inc. and Shareholder Representative Services
LLC, as Stockholders’ Representative. This restricted stock award agreement evidences the restricted stock award granted to Optionee (the “Assumed RSA”) under the Pardes Biosciences, Inc. 2020 Stock Plan (the “2020 Plan”).
Pursuant to Section 3.1(c) of the Merger Agreement, the Assumed RSA was assumed by the Company as of the Effective Time (as defined in the Merger Agreement) and continues in full force and effect under the Pardes Biosciences, Inc. 2021 Stock
Option and Incentive Plan as amended through the date hereof (the “Plan”). Subject to difference between the Plan and the 2020 Plan, which are not deemed material or adverse to Grantee, the Assumed RSA documented by this restricted stock
award agreement contains substantially the same terms, conditions, vesting and other material provisions as the Assumed RSA prior to the Effective Time, except that the number of shares have been adjusted as provided in Section 3.1(c) of the
Merger Agreement. From the Effective Time, your Assumed RSA shall solely be governed by this restricted stock award agreement and the Plan. As of the Effective Time, all Assumed RSAs shall no longer be outstanding under the 2020 Plan and the Grantee
shall cease to have any rights with respect to such Assumed RSA, except as provided in this restricted stock award agreement and the Plan. 

Pursuant to the Plan and as of the Effective time, Grantee has a Restricted Stock Award (an “Award”) with the number of shares of
Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan. The Company acknowledges the receipt from the Grantee of consideration
with respect to the par value of the Stock in the form of cash, past or future services rendered to the Company by the Grantee or such other form of consideration as is acceptable to the Administrator. 

 1. Award. The shares of Restricted Stock awarded hereunder shall be issued and held
by the Company’s transfer agent in book entry form, and the Grantee’s name shall be entered as the stockholder of record on the books of the Company. Thereupon, the Grantee shall have all the rights of a stockholder with respect to such
shares, including voting and dividend rights, subject, however, to the restrictions and conditions specified in Paragraph 2 below. The Grantee shall (i) sign and deliver to the Company a copy of this Award Agreement and (ii) deliver
to the Company a stock power endorsed in blank. 
 2. Restrictions and Conditions. 

(a) Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined by the Administrator in
its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan. 
 (b) Shares of
Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of by the Grantee prior to vesting. 

(c) If the Grantee’s Service Relationship with the Company or a Subsidiary is voluntarily or involuntarily terminated for any reason
(including due to death or disability) prior to vesting of shares of Restricted Stock granted herein, all shares of Restricted Stock shall immediately and automatically be forfeited and returned to the Company. 

3. Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2 of this Agreement shall lapse on the Vesting Date
or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in
Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date. 
  

			
	 Incremental Number

of Shares Vested
	  	[Vesting Date]
	_____________ (___%)	  	                                   
 
	_____________ (___%)	  	                                   
 
	_____________ (___%)	  	                                   
 
	_____________ (___%)	  	                                   
 
	_____________ (___%)	  	                                   
 

  
 2 

 Subsequent to such Vesting Date or Dates, the shares of Stock on which all restrictions and conditions have
lapsed shall no longer be deemed Restricted Stock. Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of Grantee’s Service Relationship without Cause by the Company (or a successor, if appropriate) in connection
with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested shares of Restricted Stock shall immediately be deemed vested effective immediately prior to such termination of Grantee’s
Service Relationship. For purposes hereof, “Cause” shall mean, unless otherwise provided in a consulting or other service agreement between the Company and the Grantee, a determination by the Administrator that the Grantee shall be
dismissed as a result of (i) any material breach by Grantee of any material written agreement between Grantee and the Company and Grantee’s failure to cure such breach within 30 days after receiving written notice thereof; (ii) any
failure by Grantee to comply with the Company’s material written policies or rules as they may be in effect from time to time; (iii) neglect or persistent unsatisfactory performance of Grantee’s duties and Grantee’s failure to
cure such condition within 30 days after receiving written notice thereof; (iv) Grantee’s repeated failure to follow reasonable and lawful instructions from the or Chief Executive Officer and Grantee’s failure to cure such condition
within 30 days after receiving written notice thereof; (v) Grantee’s conviction of, or plea of guilty or nolo contendere to, any crime that results in, or is reasonably expected to result in, material harm to the business or reputation of
the Company; (vi) Grantee’s commission of or participation in an act of fraud against the Company; (vii) Grantee’s intentional material damage to the Company’s business, property or reputation; or (viii) Grantee’s
unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom the Grantee owes an obligation of nondisclosure as a result of his or her relationship with the Company. For purposes of
clarity, a termination without “Cause” does not include any termination that occurs as a result of Grantee’s death or disability. The foregoing definition does not in any way limit the Company’s ability to terminate a
Grantee’s employment or consulting relationship at any time, and the term “Company” will be interpreted to include any Affiliate or any successor thereto, if appropriate. The Administrator may at any time accelerate the vesting
schedule specified in this Paragraph 3. 
 4. Dividends. Dividends on shares of Restricted Stock shall be paid currently to the
Grantee. 
 5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Award shall be subject to and governed by
all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 6. Transferability. This Agreement is personal to the Grantee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 
 7.
Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment
of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. Except in the case where an election is made pursuant to Paragraph 8 below, the Company shall have the authority to cause the required tax
withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued or released by the transfer agent a number of shares of Stock with an aggregate Fair Market Value that would satisfy the
withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued or released to the Grantee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law
to be withheld from the Grantee on account of such transfer. 

  
 3 

 8. Election Under Section 83(b). The Grantee and the Company
hereby agree that the Grantee may, within 30 days following the original Grant Date of the Assumed RSA, file with the Internal Revenue Service and the Company an election under Section 83(b) of the Internal Revenue Code, which period has now
passed. In the event the Grantee makes such an election, he or she agrees to provide a copy of the election to the Company. The Grantee acknowledges that he or she is responsible for obtaining the advice of his or her tax advisors with regard to the
Section 83(b) election and that he or she is relying solely on such advisors and not on any statements or representations of the Company or any of its agents with regard to such election. 

9. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or
this Agreement to continue the Grantee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Grantee’s
Service Relationship with the Company or a Subsidiary at any time. 
 10. Integration. This Agreement constitutes the entire
agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter, including the Notice of Restricted Stock Award under the Pardes Biosciences, Inc. 2020
Stock Plan effective March 24, 2020 and the related Restricted Stock Agreement. 
 11. Data Privacy Consent. In order to
administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or
professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this
Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any
privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information
to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

12. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 4 

 13. Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to Grantee’s current or future participation in the Plan, this Agreement, the shares of Restricted Stock any other Company securities or any other Company-related documents, by electronic means. By accepting this
Agreement, whether electronically or otherwise, Grantee hereby (i) consents to receive such documents by electronic means, (ii) consents to the use of electronic signatures, and (iii) if applicable, agrees to participate in the Plan
and/or receive any such documents through an on-line or electronic system established and maintained by the Company or a third party designated by the Company, including but not limited to the use of
electronic signatures or click-through electronic acceptance of terms and conditions. To the extent Participant has been provided with a copy of this Agreement, the Plan, or any other documents relating to this Agreement in a language other than
English, the English language documents will prevail in case of any ambiguities or divergences as a result of translation. 
  

			
	Pardes Biosciences, Inc.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

							
	Dated:	 	 	 		 	 
		 		 		 	Grantee’s Signature
				
		 		 		 	Grantee’s name and address:
				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 

  
 5 

 STOCK POWER 

FOR VALUE RECEIVED and pursuant to Section 2(c) of that certain Assumed Restricted Stock Award Agreement under the Pardes Biosciences,
Inc. 2021 Stock Option and Incentive Plan between the undersigned (“Grantee”) and Pardes Biosciences, Inc, a Delaware corporation (the “Company”), with an original grant date of _____, 2020 and an assumed date of
December 23, 2021 (the “Agreement”), the Grantee hereby sells, assigns and transfers unto the Company shares of the Common Stock of the Company standing in Grantee’s name on the Company’s books, whether held in
uncertificated form or certificated form as Certificate No. , and does hereby irrevocably constitute and appoint ____ to transfer said stock on the books of the Company with full power of substitution in the premises. THIS STOCK
POWER MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND THE PLAN. 
 Date:
                         

GRANTEE: 
  

							
	Dated:	 	 	 		 	 
		 		 		 	Grantee’s Signature
				
		 		 		 	Grantee’s name and address:
				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 Spouse of Holder (If Applicable):

				
		 		 		 	 
		 		 		 	 Signature

		 		 		 	 Name: ________________________________

  
 6 

 INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
		
	Name of Optionee:	  	                                      
                                         
 
		
	No. of Option Shares:	  	                                      
  
		
	Option Exercise Price per Share:	  	$                                    

		  	[FMV on Grant Date (110% of FMV if a 10% owner)]
		
	Grant Date:	  	                                      
  
		
	[Vesting/Exercisability Date:	  	                                      
  ]
		
	Expiration Date:	  	                                      
  
		  	[up to 10 years (5 if a 10% owner)]

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the
number of shares of Common Stock, par value $0.0001 per share (the “Stock”), of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except
as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of
Option Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a Subsidiary on such dates: 
  

			
	 Incremental Number of
Option Shares
Exercisable*
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

  

	*	 Max. Option Share value of $100,000 per yr. 

 Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of
Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate) in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested Option Shares
shall immediately be deemed vested and exercisable effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close
of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
 Payment of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by
certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially
owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; or (iii) by the Optionee delivering to the Company a properly
executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to
pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment
procedure; or (iv) a combination of (i), (ii) and (iii) above. Payment instruments will be received subject to collection. 
 The
transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above,
(ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require
to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the
Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to.

  
 2 

 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to
the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof
and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of
Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall
have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. If the Optionee’s Service Relationship with the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the
date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of
the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12
months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of the termination
of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the
conviction of, indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other
than by reason of disability) by the Optionee of the Optionee’s duties to the Company. 
 (d) Other Termination. If the
Optionee’s Service Relationship with the Company or a Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability, or Cause, and unless otherwise determined by the Administrator, any portion of this
Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that
is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
 3 

 The Administrator’s determination of the reason for termination of the Optionee’s
Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. Status of the Stock Option. This Stock Option is intended to qualify as an
“incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that this Stock Option qualifies as such. The Optionee should consult
with his or her own tax advisors regarding the tax effects of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements
and that this Stock Option must be exercised within three months after termination of employment as an employee (or 12 months in the case of death or disability) to qualify as an “incentive stock option.” To the extent any
portion of this Stock Option does not so qualify as an “incentive stock option,” such portion shall be deemed to be a non-qualified stock option. If the Optionee intends to dispose or does dispose
(whether by sale, gift, transfer or otherwise) of any Option Shares within the one-year period beginning on the date after the transfer of such shares to him or her, or within the two-year period beginning on the day after the grant of this Stock Option, he or she will so notify the Company within 30 days after such disposition. 

7. Tax Withholding. The Optionee shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event
for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. To the extent applicable,
the Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair
Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Optionee, the number of shares of Stock necessary to satisfy the Federal, state and
local taxes required by law to be withheld from the Optionee on account of such transfer. 

  
 4 

 8. No Obligation to Continue Service Relationship. Neither the Company nor any
Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the
Company or any Subsidiary to terminate the Optionee’s Service Relationship with the Company or a Subsidiary at any time. 
 9.
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

10. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 5 

 
			
	Pardes Biosciences, Inc.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

					
			
	Dated: ____________________________________________	 		 	   

		 		 	Optionee’s Signature
			
		 		 	Optionee’s name and address:
			
		 		 	 
			
		 		 	 
			
		 		 	 

  
 6 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY CONSULTANTS 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Optionee:	  	______________________________________________________________________
		
	No. of Option Shares:	  	___________________________________
		
	Option Exercise Price per Share:	  	$__________________________________
		
	Grant Date:	  	 ___________________________________

		
	[Vesting/Exercisability Date	  	___________________________________]
		
	Expiration Date:	  	___________________________________

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the
number of shares of Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This
Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except
as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable as follows: 

[_______________________________________], so long as Optionee continues to have a Service Relationship with the Company or a Subsidiary on
such dates. 
 Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on
the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 

 Payment of the purchase price for the Option Shares may be made by one or more of the
following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the
open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee
delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that
in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as
a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value
that does not exceed the aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection. In addition, to the extent that (A) this Stock Option is vested
and remains outstanding and has not been exercised by the Optionee as of the Expiration Date and (B) the Fair Market Value of the Stock exceeds the exercise price of the Stock Option on such date, then this Stock Option shall automatically be
exercised on the Expiration Date (without any action required on the part of the Optionee) pursuant to the “net exercise” arrangement described in (iv), above. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the
Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock
transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 
 (b) The shares of Stock
purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or
regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have
transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect
to such shares of Stock. 

  
 2 

 (c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock
Option shall be exercisable after the Expiration Date hereof. 
 3. Termination of Service Relationship. Except as may otherwise be
provided by the Administrator, if the Optionee’s Service Relationship with the Company or a Subsidiary (as defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set
forth below. 
 (a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates
by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12
months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of
the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12
months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of the termination
of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in a consulting or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of,
indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason
of disability) by the Optionee of the Optionee’s duties to the Company. 
 (d) Other Termination. If the Optionee’s Service
Relationship with the Company or a Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding
on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the
date of termination shall terminate immediately and be of no further force or effect. 

  
 3 

 The Administrator’s determination of the reason for termination of the Optionee’s
Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. No Obligation to Continue Service Relationship. Neither the Company nor
any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee’s Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of
the Company or any Subsidiary to terminate the Optionee’s Service Relationship with the Company or a Subsidiary at any time. 
 7.
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

8. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

9. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 4 

 
			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

									
	Dated:	 	 	 		 		 	 
		 		 		 		 	 Optionee’s Signature

		 		 		 		 	
		 		 		 		 	 Optionee’s name and address:

		 		 		 		 	
		 		 		 		 	 
					
		 		 		 		 	 
					
		 		 		 		 	 

  
 5 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Optionee:	  	______________________________________________________________________
		
	No. of Option Shares:	  	___________________________________
		
	Option Exercise Price per Share:	  	$__________________________________
		  	[FMV on Grant Date]
		
	Grant Date:	  	___________________________________
		
	[Vesting/Exercisability Date:	  	___________________________________]
		
	Expiration Date:	  	___________________________________
		  	[No more than 10 years]

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants to the Optionee named above, who is a Non-Employee Director of the Company but is not an employee of the Company,
an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.0001 per share (the “Stock”), of the Company specified above at the
Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code
of 1986, as amended. 
 1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have
become exercisable. Except as set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to
the following number of Option Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a Subsidiary on such dates: 

 

			
	 Incremental Number of
Option Shares
Exercisable
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

 Notwithstanding the foregoing, in the event of a Sale Event, 100% of the then-outstanding
and unvested Option Shares shall immediately be deemed vested and exercisable on the date of such Sale Event; provided, that the Optionee remains in service as a member of the Board until the date of such Sale Event. Once exercisable, this Stock
Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 

2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
 Payment of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by
certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially
owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee delivering to the Company a properly
executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to
pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment
procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the
aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection. In addition, to the extent that (A) this Stock Option is vested and remains outstanding and
has not been exercised by the Optionee as of the Expiration Date and (B) the Fair Market Value of the Stock exceeds the exercise price of the Stock Option on such date, then this Stock Option shall automatically be exercised on the Expiration
Date (without any action required on the part of the Optionee) pursuant to the “net exercise” arrangement described in (iv), above. 

  
 2 

 The transfer to the Optionee on the records of the Company or of the transfer agent of the
Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or
in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise
of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned shares of Stock through the
attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of the Company or of
the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof and of the Plan. The determination of the
Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless
and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of
record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination as Service Relationship.. If the Optionee’s Service Relationship with the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the
date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Other Termination. If the Optionee Service Relationship with the Company or a Subsidiary ceases for any reason other than the
Optionee’s death, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date the Optionee ceased to have a Service Relationship, for a period of six months from such date or until the
Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date the Optionee ceases to have a Service Relationship shall terminate immediately and be of no further force or effect. 

  
 3 

 4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock
Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the
Plan, unless a different meaning is specified herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s
lifetime, only by the Optionee, and thereafter, only by the Optionee’s legal representative or legatee. 
 6. No Obligation to
Continue as a Non-Employee Director. Neither the Plan nor this Stock Option confers upon the Optionee any rights with respect to continuance as a Non-Employee
Director or in any other Service Relationship. 
 7. Integration. This Agreement constitutes the entire agreement between the parties
with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

8. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

9. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 4 

 
			
	Pardes Biosciences, Inc.
		
	By:	 	 
		 	Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

							
	Dated:	 	 	 		 	 
		 		 		 	Optionee’s Signature
				
		 		 		 	Optionee’s name and address:
				
		 		 		 	 
				
		 		 		 	 
				
		 		 		 	 

  
 5 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	Name of Optionee:	  	                                    
                    
		
	No. of Option Shares:	  	                                
		
	Option Exercise Price per Share:	  	
$                          
      
 [FMV on Grant Date]

		
	Grant Date:	  	                                
		
	 [Vesting/Exercisability Date
	  	____________________]
		
	Expiration Date:	  	                                

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the
number of shares of Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This
Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 

1.Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as
set forth below, and subject to the discretion of the Administrator (as defined in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option
Shares on the dates indicated below so long as the Optionee continues to have a Service Relationship with the Company or a Subsidiary on such dates: 
  

			
	 Incremental Number of
Option Shares
Exercisable
	  	[Exercisability Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

 Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of
Optionee’s Service Relationship without Cause by the Company (or a successor, if appropriate) in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested Option Shares
shall immediately be deemed vested and exercisable effective immediately prior to such termination of Optionee’s Service Relationship. Once exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close
of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Administrator of his or her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be
purchased. 
 Payment of the purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by
certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially
owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the Optionee delivering to the Company a properly
executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to
pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment
procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the
aggregate exercise price; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment instruments will be received subject to collection. In addition, to the extent that (A) this Stock Option is vested and remains outstanding and
has not been exercised by the Optionee as of the Expiration Date and (B) the Fair Market Value of the Stock exceeds the exercise price of the Stock Option on such date, then this Stock Option shall automatically be exercised on the Expiration
Date (without any action required on the part of the Optionee) pursuant to the “net exercise” arrangement described in (iv), above. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be contingent upon (i) the
Company’s receipt from the Optionee of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations (including the satisfaction of any taxes that the Company or an Affiliate is obligated to withhold with respect to the optionee). In the event the Optionee
chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

  
 2 

 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to
the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof
and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of
Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall
have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Service Relationship. If the Optionee’s Service Relationship with the Company or a Subsidiary (as
defined in the Plan) is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a) Termination Due to Death. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of the
Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the
date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates by reason of
the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a period of 12
months from the date the Optionee’s Service Relationship is terminated by reason of the Optionee’s disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of the termination
of the Optionee’s Service Relationship by reason of the Optionee’s disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s Service Relationship with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between
the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of,
indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason
of disability) by the Optionee of the Optionee’s duties to the Company. 

  
 3 

 (d) Other Termination. If the Optionee’s Service Relationship with the Company
or a Subsidiary terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be
exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination
shall terminate immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of
the Optionee’s Service Relationship with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. Tax Withholding. The Optionee shall, not later than the date as of which
the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on
account of such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Optionee a number of shares
of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Optionee, the number of shares of Stock necessary to
satisfy the Federal, state and local taxes required by law to be withheld from the Optionee on account of such transfer. 
 7. No
Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in a Service Relationship with the Company or a Subsidiary and neither the
Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Optionee’s Service Relationship with the Company or a Subsidiary at any time. 

  
 4 

 8. Integration. This Agreement constitutes the entire agreement between the parties
with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

10. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 5 

 
			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

									
	Dated:	 	 	 		 		 	 
		 		 		 		 	 Optionee’s Signature

		 		 		 		 	
		 		 		 		 	 Optionee’s name and address:

					
		 		 		 		 	 
					
		 		 		 		 	 
					
		 		 		 		 	 

  
 6 

 RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	 Name of Grantee:
	  	                                      
                  
		
	 No. of Shares:
	  	                                
		
	 Grant Date:
	  	                                
		
	 Vesting Date:
	  	                                

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Grantee named above. Upon acceptance of this Award, the Grantee shall receive the number of shares
of Common Stock, par value $0.0001 per share (the “Stock”) of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan. The Company acknowledges the receipt from the Grantee of consideration
with respect to the par value of the Stock in the form of cash, past or future services rendered to the Company by the Grantee or such other form of consideration as is acceptable to the Administrator. 

1. Award. The shares of Restricted Stock awarded hereunder shall be issued and held by the Company’s transfer agent in book entry
form, and the Grantee’s name shall be entered as the stockholder of record on the books of the Company. Thereupon, the Grantee shall have all the rights of a stockholder with respect to such shares, including voting and dividend rights,
subject, however, to the restrictions and conditions specified in Paragraph 2 below. The Grantee shall (i) sign and deliver to the Company a copy of this Award Agreement and (ii) deliver to the Company a stock power endorsed in blank.

 2. Restrictions and Conditions. 

(a) Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined by the Administrator in
its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan. 
 (b) Shares of
Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of by the Grantee prior to vesting. 

(c) If the Grantee’s Service Relationship with the Company or a Subsidiary is voluntarily or involuntarily terminated for any reason
(including due to death or disability) prior to vesting of shares of Restricted Stock granted herein, all shares of Restricted Stock shall immediately and automatically be forfeited and returned to the Company. 

 3. Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2
of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified,
then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date. 
  

			
	 Incremental Number
of Shares
Vested
	  	[Vesting Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

Subsequent to such Vesting Date or Dates, the shares of Stock on which all restrictions and conditions have lapsed shall no longer be deemed
Restricted Stock. Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of Grantee’s Service Relationship without Cause by the Company (or a successor, if appropriate) in connection with or within three months
following the consummation of a Sale Event, then 100% of the then outstanding and unvested shares of Restricted Stock shall immediately be deemed vested effective immediately prior to such termination of Grantee’s Service Relationship. The
Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3. 
 4. Dividends. Dividends on
shares of Restricted Stock shall be paid currently to the Grantee. 
 5. Incorporation of Plan. Notwithstanding anything herein to
the contrary, this Award shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning
specified in the Plan, unless a different meaning is specified herein. 
 6. Transferability. This Agreement is personal to the
Grantee, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 

7. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for
Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. Except in the case where an
election is made pursuant to Paragraph 8 below, the Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued or released by the
transfer agent a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued or released to the Grantee,
the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law to be withheld from the Grantee on account of such transfer. 

  
 2 

 8. Election Under Section 83(b). The Grantee and the Company
hereby agree that the Grantee may, within 30 days following the Grant Date of this Award, file with the Internal Revenue Service and the Company an election under Section 83(b) of the Internal Revenue Code. In the event the Grantee makes such
an election, he or she agrees to provide a copy of the election to the Company. The Grantee acknowledges that he or she is responsible for obtaining the advice of his or her tax advisors with regard to the Section 83(b) election and that he or
she is relying solely on such advisors and not on any statements or representations of the Company or any of its agents with regard to such election. 

9. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or
this Agreement to continue the Grantee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Grantee’s
Service Relationship with the Company or a Subsidiary at any time. 
 10. Integration. This Agreement constitutes the entire
agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

11. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

12. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 3 

 
			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

									
		 		 		 	
					
	Dated:	 	 	 		 		 	 
		 		 		 		 	 Grantee’s Signature

		 		 		 		 	
		 		 		 		 	 Grantee’s name and address:

		 		 		 		 	
		 		 		 		 	 
					
		 		 		 		 	 
					
		 		 		 		 	 

  
 4 

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR CONSULTANTS 
 UNDER
THE PARDES BIOSCIENCES, INC. 
 2021 STOCK OPTION AND INCENTIVE PLAN 

 

			
	 Name of Grantee:
	  	__________________________________________
		
	 No. of Restricted Stock Units:
	  	_____________________
		
	 Grant Date:
	  	_____________________
		
	 [Vesting Date:
	  	 _____________________]

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate
to one share of Class A Common Stock, par value $0.0001 per share (the “Stock”) of the Company. 
 1. Restrictions on
Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or
otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this
Agreement. 
 2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse
on the Vesting Date or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and
conditions in Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Incremental Number of
Restricted Stock
Units Vested
	  	[Vesting Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

 The
Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 

 3. Termination of Service Relationship. If the Grantee’s Service Relationship
with the Company or a Subsidiary terminates for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall
automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock
Units. 
 4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date (but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate number of Restricted Stock Units that have
vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Section 409A of the Code. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement
of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

7. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or
this Agreement to continue the Grantee in a Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Service
Relationship of the Grantee at any time. 
 8. Integration. This Agreement constitutes the entire agreement between the parties with
respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 
 9. Data
Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may
process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the
administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant
Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the
transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance
with applicable law. 

  
 2 

 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	 Dated:    ______________________________
	 	
		 	 Grantee’s Signature

		
		 	 Grantee’s name and address:

		
		 	 
		
		 	 
		
		 	 

  
 3 

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	 Name of Grantee:
	  	__________________________________________
		
	 No. of Restricted Stock Units:
	  	_____________________
		
	 Grant Date:
	  	 _____________________

		
	 [Vesting Date:
	  	 _____________________]

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate
to one share of Common Stock, par value $0.0001 per share (the “Stock”) of the Company. 
 1. Restrictions on Transfer of
Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the
Vesting Date or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions
in Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Incremental Number of
Restricted Stock
Units Vested
	  	[Vesting Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

Notwithstanding the foregoing, in the event of a Sale Event, 100% of the then-outstanding and unvested Restricted Stock Units shall
immediately be deemed vested on the date of such Sale Event; provided, that the Grantee remains in service as a member of the Board until the date of such Sale Event. The Administrator may at any time accelerate the vesting schedule specified in
this Paragraph 2. 

 3. Termination of Service Relationship . If the Grantee’s Service Relationship
with the Company or a Subsidiary terminates for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall
automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock
Units. 
 4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date (but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate number of Restricted Stock Units that have
vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Section 409A of the Code. This Agreement shall be interpreted in such a manner that all provisions relating to the settlement
of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

7. No Obligation to Continue as a Non-Employee Director. Neither the Plan nor this Award
confers upon the Grantee any rights with respect to continuance as a Non-Employee Director or in another Service Relationship. 

8. Integration. This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior
agreements and discussions between the parties concerning such subject matter. 
 9. Data Privacy Consent. In order to administer the
Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data,
including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the
“Relevant Information”). By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the
Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction
in which the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 2 

 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	 Dated:    ______________________________
	 	
		 	 Grantee’s Signature

		
		 	 Grantee’s name and address:

		
		 	 
		
		 	 
		
		 	 

  
 3 

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE PARDES BIOSCIENCES, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

			
	 Name of Grantee:
	  	__________________________________________
		
	 No. of Restricted Stock Units:
	  	_____________________
		
	 [Vesting Date:
	  	 _____________________]

		
	 Grant Date:
	  	 _____________________

 Pursuant to the Pardes Biosciences, Inc. 2021 Stock Option and Incentive Plan as amended through the date
hereof (the “Plan”), Pardes Biosciences, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate
to one share of Common Stock, par value $0.0001 per share (the “Stock”) of the Company. 
 1. Restrictions on Transfer of
Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the
Vesting Date or Dates specified in the following schedule so long as the Grantee continues to have a Service Relationship with the Company or a Subsidiary on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions
in Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Incremental Number of
Restricted Stock
Units Vested
	  	[Vesting Date]
	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

	_____________ (___%)	  	  

Notwithstanding the foregoing, in the event of a Sale Event, upon a termination of Grantee’s Service Relationship without Cause by the
Company (or a successor, if appropriate) in connection with or within three months following the consummation of a Sale Event, then 100% of the then outstanding and unvested Restricted Stock Units shall immediately be deemed vested effective
immediately prior to such termination of Grantee’s Service Relationship. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 

 3. Termination of Service Relationship. If the Grantee’s Service Relationship
with the Company or a Subsidiary terminates for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall
automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock
Units. 
 4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date (but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate number of Restricted Stock Units that have
vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for
Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the
authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Grantee a number of shares of Stock with an aggregate Fair Market Value that would
satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Grantee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law
to be withheld from the Grantee on account of such transfer. 
 7. Section 409A of the Code. This Agreement shall be interpreted in
such a manner that all provisions relating to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

8. No Obligation to Continue Service Relationship. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or
this Agreement to continue the Grantee’s Service Relationship with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Grantee’s
Service Relationship with the Company or a Subsidiary at any time. 
 9. Integration. This Agreement constitutes the entire agreement
between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

  
 2 

 10. Data Privacy Consent. In order to administer the Plan and this Agreement and to
implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to
Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By
entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the
Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies
consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	 Pardes Biosciences, Inc.

		
	 By:
	 	 
		 	 Title:

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	 Dated:    ______________________________
	 	
		 	 Grantee’s Signature

		
		 	 Grantee’s name and address:

		
		 	 
		
		 	 
		
		 	 

  
 3

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