Document:

EX-4.3

 Exhibit 4.3 

THIS WARRANT, AND THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT, HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL)
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR ANY APPLICABLE STATE SECURITIES LAWS. 

AMENDED AND RESTATED WARRANT AGREEMENT 

To Purchase Shares of 
 Stealth
BioTherapeutics Corp 
 Originally Dated as of June 30, 2017 (the “Effective Date”) 

Amended and Restated as of June 7, 2018 

WHEREAS, Stealth BioTherapeutics Corp, a company incorporated under the laws of the Cayman Islands, entered into a Loan and Security Agreement, dated
June 30, 2017 (the “Loan Agreement”) with Hercules Capital, Inc., a Maryland corporation, in its capacity as administrative agent, Hercules Capital, Inc. (the “Warrantholder”), and the other lender parties
thereto; and 
 WHEREAS, the Company (as defined below) originally granted to the Warrantholder, in consideration for, among other things, the financial
accommodations provided for in the Loan Agreement, the right to purchase Warrant Shares (as defined below) pursuant to the original Warrant Agreement dated June 30, 2017 (the “Original Agreement”). 

WHEREAS, the Company has requested, and the Warrantholder has agreed, to, amend and restate the Original Agreement effective as of June 7, 2018 (such
amended and restated agreement, the “Agreement”). 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained
herein, the Company and the Warrantholder agree as follows: 
 SECTION 1.    GRANT OF THE RIGHT TO PURCHASE
SHARES. 
 For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the
conditions hereinafter set forth, to subscribe for and purchase, from the Company, an aggregate number of fully paid and non-assessable Warrant Shares equal to the quotient derived by dividing (a) the
Warrant Coverage (as defined below) by (b) the Exercise Price (as defined below). The Exercise Price of such shares is subject to adjustment as provided in Section 8. As used herein, the following terms shall have the following meanings:

 “Act” means the Securities Act of 1933, as amended; 

“Cash Fee” means a lump-sum cash amount in US dollars (US$) payable by the Company to
Warrantholder equal to: 
  

	 	i.	 If the Pre-Money Valuation is below US$750.0 million: $350,000;

  

	 	ii.	 If the Pre-Money Valuation is equal to or greater than
US$750.0 million but less than US$1.0 billion: US$300,000; or 

  

	 	iii.	 If the Pre-Money Valuation is equal to or greater than US$1.0 billion:
zero US dollars; 

 “Charter” means the Company’s Amended and Restated Memorandum and Articles of
Association, as may be amended from time to time; 

 “Company” means Stealth BioTherapeutics Corp, an exempted company
incorporated under the laws of the Cayman Islands, and any successor or surviving entity that assumes the obligations of the Company under this Agreement pursuant to Section 8(a); 

“Equity Round” means any offering of equity securities by the Company, after the Effective Date, in a transaction or series of
related transactions principally for equity financing purposes in which cash is received by the Company and/or debt of the Company is cancelled or converted in exchange for equity securities of the Company, including, at the Warrant Holder’s
election, any Initial Public Offering of the Company or of any direct or indirect parent entity of the Company; provided that an Equity Round shall not include additional closings of the Company’s Series A Preferred (as defined below)
round of financing (including the issuance of shares of Series A Preferred upon the conversion of convertible promissory notes made by the Company in favor of existing shareholders of the Company). 

“Exercise Price” means (a) in the case of Warrant Shares that are Series A Preferred, the price per share of Series A
Preferred Shares, $0.76923 per share, or (b) in the case of Warrant Shares that are Next Round Shares (as defined below), the price per share of Next Round Shares paid by investors (before deduction of any underwriters’ discounts and
commissions) in the Next Round, in either case subject to adjustment pursuant to Section 8; 
 “Initial Public
Offering” means (i) the initial underwritten public offering of the Company’s Ordinary Shares (or the ordinary shares or other securities of any direct or indirect parent entity of the Company) pursuant to a registration statement
under the Act, which public offering has been declared effective by the Securities and Exchange Commission (“SEC”) (the “US IPO”); or (ii) the initial public offering and listing of the Company’s Ordinary
Shares (or the ordinary shares or other securities of any direct or indirect parent entity of the Company) on The Stock Exchange of Hong Kong Limited (“HKSE”) (the “Hong Kong IPO”); 

“Merger Event” means any sale, lease, license or other transfer of all or substantially all assets of the Company or any
merger or consolidation involving the Company in which the Company is not the surviving entity, or in which the outstanding shares of the Company are otherwise converted into or exchanged for shares of preferred stock, other securities or property
of another entity, including, without limitation, the currently contemplated reorganization pursuant to which the Company will become a wholly owned subsidiary of a newly formed Delaware corporation to be called Stealth BioTherapeutics Inc. (the
“Reorganization”); 
 “Next Round” means the next Equity Round in which the Company issues and sells
Ordinary Shares or Preferred Shares and any options, warrants, rights or other securities that are exercisable, convertible or exchangeable into, or otherwise provide the right to purchase or acquire, such Ordinary Shares or Preferred Shares for
aggregate gross proceeds of at least $30,000,000 but excluding the issuance of convertible promissory notes which are convertible into shares of Series A Preferred to existing shareholders of the Company; 

“Ordinary Shares” means the Company’s ordinary shares, $0.0001 nominal or par value per share; 

“Preferred Shares” means the Company’s preferred shares, $0.0001 nominal or par value per share; 

“Pre-Money Valuation” means (i) the public offering price in the Hong Kong IPO
multiplied by (ii) the aggregate number of Ordinary Shares outstanding determined on a fully diluted, as converted basis, as of immediately prior to the issuance of Ordinary Shares in the Hong Kong IPO; 

“Purchase Price” means, with respect to any exercise of this Agreement, an amount equal to the Exercise Price as of the
relevant time multiplied by the number of Warrant Shares requested to be exercised under this Agreement pursuant to such exercise;“Warrant Coverage” means $500,000 plus, in the event all or part of the Tranche 4 Advance is
funded pursuant to the Loan Agreement, 2.50% of such amount funded; and 

  
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 “Warrant Shares” means, at the election of the Warrantholder, (a) the
Series A Preferred Shares, $0.0001 nominal or par value per share, of the Company (the “Series A Preferred”) or (b) in connection with the consummation of the Next Round, the Ordinary Shares, or class and series of any
Preferred Shares of the Company, and any options, warrants, rights or other securities that are exercisable, convertible or exchangeable into, or otherwise provide the right to purchase or acquire, such Ordinary Shares or Preferred Shares issued in
the Next Round (including, at the Warrantholder’s election, in the case of an Initial Public Offering of any direct or indirect parent entity of the Company, the ordinary shares or other securities of such direct or indirect parent entity of
the Company) (such equity securities, the “Next Round Shares”), and, to the extent provided in Sections 8(a) and (b), any other shares into or for which such Warrant Shares may be converted or exchanged. 

SECTION 2.    TERM OF THE AGREEMENT. 

Except as otherwise provided for herein, the term of this Agreement and the right to purchase Warrant Shares as granted herein (the “Warrant”)
shall commence on the Effective Date and shall be exercisable for a period ending upon the date that is ten (10) years from the Effective Date; provided, however, that this Warrant shall automatically terminate, without any action
on the part of the Warrantholder, as of immediately following (and contingent upon) the consummation of a Hong Kong IPO. Immediately prior to (and contingent upon) any such termination of this Warrant in connection with a Hong Kong IPO,
(i) this Warrant shall be deemed to be exercised in full pursuant to the Net Issuance method set forth in Section 3 as of immediately prior to the closing of such Hong Kong IPO (provided, that, for the avoidance of doubt, if the Net
Issuance method would result in the issuance of zero Warrant Shares, then such Warrant shall be terminated without the issuance of any Warrant Shares) and (ii) within five (5) business days of the consummation of a Hong Kong IPO, the
Company shall pay Warrantholder the Cash Fee. 
 SECTION 3.    EXERCISE OF THE PURCHASE RIGHTS. 

(a)    Exercise. The purchase rights set forth in this Agreement are exercisable by the Warrantholder, in whole or
in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2, by tendering to the Company at its principal office a notice of exercise in substantially the form attached hereto as Exhibit I (the
“Notice of Exercise”), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than ten (10) days
thereafter (provided, that, in the event the Warrant Shares are traded on a U.S. securities exchange, no later than two (2) trading days thereafter), the Company shall issue or cause to be issued to the Warrantholder a certificate
for the number of Warrant Shares purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II (the “Acknowledgment of Exercise”) indicating the number of shares which remain subject to
future purchases, if any. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which the Notice of Exercise and payment of the Purchase Price shall have been delivered to the
Company as provided in this Section 3. 
 The Purchase Price may be paid at the Warrantholder’s election either (i) by cash or check or
(ii) by surrender of all or a portion of the Warrant for Warrant Shares to be exercised under this Agreement and, if applicable, an amended Agreement representing the remaining number of shares purchasable hereunder, as determined below
(“Net Issuance”); provided, however, that Warrantholder shall not exercise by cash, and may only exercise by Net Issuance, during the period beginning 28 days prior to the submission of a listing application to HKSE
relating to a Hong Kong IPO through the earlier of the consummation or abandonment of such Hong Kong IPO. If the Warrantholder elects the Net Issuance method, the Company will issue Warrant Shares in accordance with the following formula: 

X = Y(A-B) 

A 

Where:                 X =     the number of Warrant
Shares to be issued to the Warrantholder. 

                          
   Y =     the number of Warrant Shares requested to be exercised under this Agreement. 

  
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   A =     the fair market value of one (1) Warrant Share at the time of issuance of such Warrant Shares. 

                          
   B =     the Exercise Price. 
 For purposes of the above calculation, fair market value of Warrant Shares shall mean
with respect to each Warrant Share: 
 (i)    if the exercise is in connection with an Initial Public
Offering, and if the registration statement relating to such Initial Public Offering has been declared effective by the SEC (for US IPO) or if the prospectus relating to such Initial Public Offering has been registered with the Hong Kong Companies
Registry (for Hong Kong IPO), then the fair market value per share shall be (1) in the event the Warrant Shares are Preferred Shares, the product of (A) the initial “Price to Public” of the Ordinary Shares specified in the final
prospectus with respect to the offering and (B) the number of Ordinary Shares into which each Preferred Share is convertible at the time of such exercise, and (2) in the event the Warrant Shares are Ordinary Shares, the initial price to
public of the Ordinary Shares specified in the final prospectus in the case of a US IPO or in the results announcement in the case of a Hong Kong IPO with respect to the offering; 

(ii)    if the exercise is after, and not in connection with an Initial Public Offering, and: 

(A)    if the Ordinary Shares are traded on a securities exchange, the fair market value shall be deemed
to be the prior day closing price before the day the current fair market value of the securities is being determined; or 

(B)    if the Ordinary Shares are traded
over-the-counter, the fair market value shall be deemed to be the prior day closing bid and asked price quoted in the over-the-counter market before the day the current fair market value of the securities is being determined; and 

(iii)    if at any time the Warrant Shares are not listed on any securities exchange or traded over-the-counter, the fair market value of Warrant Shares shall be the highest price per share which the Company could obtain from a willing buyer (not a current employee or
director) for Warrant Shares sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors, unless the Company shall become subject to a Merger Event, in which case the fair market value of Warrant
Shares shall be deemed to be the per share value received by the holders of Warrant Shares pursuant to such Merger Event. 
 In the event the exercise is in
connection with Initial Public Offering of ordinary shares or other securities of any direct or indirect parent entity of the Company, appropriate adjustment shall be made in the application of the foregoing provisions of this Section 3(a) to
ensure that such provisions shall be applicable to the purchase rights under this Agreement in relation to the securities offered in such Initial Public Offering. Upon partial exercise by either cash or Net Issuance, the Company shall promptly issue
an amended Agreement representing the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Agreement shall be identical to those contained herein, including, but not limited to the Effective Date hereof.

 (b)    Exercise Prior to Expiration. To the extent this Agreement is not previously exercised as to all
Warrant Shares subject hereto, and if the fair market value of one Warrant Share is greater than the Exercise Price then in effect, this Agreement shall be deemed automatically exercised pursuant to Section 3(a) (even if not surrendered)
immediately before its expiration. For purposes of such automatic exercise, the fair market value of one Warrant Share upon such expiration shall be determined pursuant to Section 3(a). To the extent this Agreement or any portion thereof is
deemed automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of Warrant Shares, if any, the Warrantholder is to receive by reason of such automatic exercise. 

  
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 SECTION 4.    RESERVATION OF SHARES. 

During the term of this Agreement, the Company will at all times have authorized and reserved a sufficient number of Warrant Shares to provide for the exercise
of the rights to purchase Warrant Shares as provided for herein, and shall have authorized and reserved a sufficient number of Ordinary Shares to provide for the conversion of any Preferred Shares issuable hereunder. 

SECTION 5.    NO FRACTIONAL SHARES OR SCRIP. 

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant, but in lieu of such fractional shares the
Company shall make a cash payment therefor upon the basis of the then fair market value of one Warrant Share. 
 SECTION
6.    NO RIGHTS AS SHAREHOLDER. 
 This Agreement does not entitle the Warrantholder to any voting rights or other rights as a
shareholder of the Company prior to the exercise of this Warrant. 
 SECTION 7.    WARRANTHOLDER REGISTRY. 

The Company shall maintain a registry showing the name and address of the registered holder of this Agreement. The Warrantholder’s initial address, for
purposes of such registry, is set forth below the Warrantholder’s signature on this Agreement. The Warrantholder may change such address by giving written notice of such changed address to the Company. 

SECTION 8.    ADJUSTMENT RIGHTS. 

The Exercise Price and the number of Warrant Shares purchasable hereunder are subject to adjustment, as follows: 

(a)    Merger Event. If at any time there shall be a Merger Event, then, as a part of such Merger Event, lawful
provision shall be made so that the Warrantholder shall thereafter be entitled to receive, upon exercise of this Agreement, the number of shares of common stock, preferred stock or other securities or property (collectively, “Reference
Property”) that the Warrantholder would have received in connection with such Merger Event if the Warrantholder had exercised this Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in
good faith by the Company’s Board of Directors and reasonably acceptable to the Warrantholder) shall be made in the application of the provisions of this Agreement with respect to the rights and interests of the Warrantholder after the Merger
Event to the end that the provisions of this Agreement (including adjustments of the Exercise Price, the ability of the Warrantholder to elect the class and series of Warrant Shares as set forth in the definition thereof and adjustments to ensure
that the provisions of this Section 8 shall thereafter be applicable, as nearly as possible, to the purchase rights under this Agreement in relation to any Reference Property thereafter acquirable upon exercise of such purchase rights) shall
continue to be applicable in their entirety, and to the greatest extent possible. Without limiting the foregoing, in connection with any Merger Event, upon the closing thereof, the successor or surviving entity shall assume the obligations of this
Agreement; provided that the foregoing assumption requirement shall not apply with respect to a Merger Event (other than the Reorganization or similar internal reorganization) if (i) the consideration to be paid for or in respect of the
outstanding Warrant Shares in such Merger Event consists solely of cash and/or readily marketable securities, and (ii) the value of such consideration (as determined at closing in accordance with the definitive executed transaction documents)
to be paid for or in respect of each outstanding Warrant Share is at least three (3) times the Exercise Price in effect as of immediately prior to the closing of such Merger Event. In connection with a Merger Event and upon the
Warrantholder’s written election to the Company, the Company shall cause this Agreement to be exchanged for the consideration that the Warrantholder would have received if the Warrantholder had chosen to exercise its right to have shares issued
pursuant to the Net Issuance provisions of this Agreement without actually exercising such right, acquiring such shares and exchanging such shares for such consideration. The provisions of this Section 8(a) shall similarly apply to successive
Merger Events. 

  
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 (b)    Reclassification of Shares. Except for Merger Events
subject to Section 8(a), and subject to Section 8(f), if the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise, change any of the securities as to which purchase rights under
this Agreement exist into the same or a different number of securities of any other class or classes, this Agreement shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such
change with respect to the securities which were subject to the purchase rights under this Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change; provided to the extent the Warrantholder has
the right to elect to receive upon exercise either Series A Preferred Shares or Next Round Shares, the adjustment under this clause (b) shall apply solely to the class and series of securities that has been so combined, reclassified, exchanged
or subdivided and shall not impair the Warrantholder’s right to elect to exercise the purchase rights for any other class or series of Warrant Shares. The provisions of this
 Section 8(b) shall similarly apply to successive combination,
reclassification, exchange, subdivision or other change. 
 (c)    Subdivision or Combination of Shares. If the
Company at any time shall combine or subdivide its Warrant Shares, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased and the number of Warrant Shares issuable hereunder shall be proportionately increased,
or (ii) in the case of a combination, the Exercise Price shall be proportionately increased and the number of Warrant Shares issuable hereunder shall be proportionately decreased. 

(d)    Dividends. If the Company at any time while this Agreement is outstanding and unexpired shall: 

(i)    pay a dividend with respect to the Warrant Shares payable in Warrant Shares, then the Exercise Price
shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a
fraction (A) the numerator of which shall be the total number of Warrant Shares outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of Warrant Shares outstanding
immediately after such dividend or distribution; or 
 (ii)    make any other distribution with respect
to Warrant Shares (or shares into which the Warrant Shares are convertible), except any distribution specifically provided for in any other clause of this Section 8, then, in each such case, provision shall be made by the Company such that the
Warrantholder shall receive upon exercise or conversion of this Warrant a proportionate share of any such distribution as though it were the holder of the Warrant Shares (or other shares for which the Warrant Shares are convertible) as of the record
date fixed for the determination of the shareholders of the Company entitled to receive such distribution. 

(e)    Antidilution Rights. Additional antidilution rights applicable to the Warrant Shares purchasable hereunder
are as set forth in the Charter and shall be applicable with respect to the Warrant Shares issuable hereunder. The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Charter;
provided, that no such amendment, modification or waiver shall impair or reduce the antidilution rights applicable to the Warrant Shares as of the Effective Date unless such amendment, modification or waiver affects the rights of the
Warrantholder with respect to the Warrant Shares in the same manner as it affects all other holders of Warrant Shares. The Company shall provide the Warrantholder with prior written notice of any issuance of its share capital or other equity
security to occur after the Effective Date of this Agreement (but excluding any issuances that are “Excluded Securities” as defined in the Charter), which notice shall include (i) the price at which such share capital or security are
to be sold, (ii) the number of shares to be issued and (iii) such other information as necessary for the Warrantholder to determine if a dilutive event has occurred. For the avoidance of doubt, there shall be no duplicate anti-dilution
adjustment pursuant to this subsection (e), the forgoing subsection (d) and the Charter. 

  
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 (f)    Notice of Adjustments. If: (i) the Company shall
declare any dividend or distribution upon its share capital, whether in shares, cash, property or other securities; (ii) there shall be any Merger Event; (iii) there shall be an Initial Public Offering; or (iv) there shall be any
voluntary dissolution, liquidation or winding up of the Company; then, in connection with each such event, the Company shall send to the Warrantholder: (A) at least twenty (20) days’ prior written notice of the date on which the books
of the Company shall close or a record shall be taken for such dividend, distribution, subscription rights (specifying the date on which the holders of Warrant Shares shall be entitled thereto) or for determining rights to vote in respect of such
Merger Event, dissolution, liquidation or winding up; (B) in the case of any such Merger Event, dissolution, liquidation or winding up, at least twenty (20) days’ prior written notice of the date when the same shall take place (and
specifying the date on which the holders of Warrant Shares shall be entitled to exchange their Warrant Shares for securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding up); and (C) in the case of
an Initial Public Offering, the Company shall give the Warrantholder at least ten (10) days’ written notice prior to the effective date thereof. 

Each such written notice shall set forth, in reasonable detail, (x) the event requiring the notice, and (y) if any adjustment is required to be
made, (A) the amount of such adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the Exercise Price has been adjusted) and (D) the number of shares subject to purchase hereunder
after giving effect to such adjustment, and shall be given in accordance with Section 12(g) below. 

(g)    Timely Notice. Failure to timely provide such notice required by subsection (f) above shall entitle the
Warrantholder to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by the Warrantholder. For purposes of this subsection (g), the notice period shall begin on
the date the Warrantholder receives a written notice in accordance with Section 12(g) containing all the information required to be provided in such subsection (f). 

SECTION 9.    REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 

(a)    Reservation of Warrant Shares. The Warrant Shares issuable upon exercise of the Warrantholder’s rights
have been or, in the case of Warrant Shares issuable in the Next Round, will be duly and validly reserved and, when issued in accordance with the provisions of this Agreement, will be validly issued, fully paid and
non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, that the Warrant Shares issuable pursuant to this Agreement may be subject to
restrictions on transfer under applicable securities laws. The Company has made available to the Warrantholder true, correct and complete copies of its Charter and current bylaws or similar organizational documents. The issuance of certificates for
Warrant Shares upon exercise of this Agreement shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or other cost incurred by the Company in connection with such exercise and the related issuance of Warrant
Shares; provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the issuance and delivery of any certificate in a name other than that of the Warrantholder. 

(b)    Due Authority. The execution and delivery by the Company of this Agreement and the performance of all
obligations of the Company hereunder, including the issuance to the Warrantholder of the right to acquire the Warrant Shares and, if applicable, the Ordinary Shares into which they may be converted, have been duly authorized by all necessary
corporate action on the part of the Company. This Agreement: (i) does not violate the Company’s Charter or current bylaws or similar organizational documents; (ii) does not contravene any law or governmental rule, regulation or order
applicable to it; and (iii) does not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which it is a party or by which it is bound. This Agreement constitutes a
legal, valid and binding agreement of the Company, enforceable in accordance with its terms. 

  
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 (c)    Consents and Approvals. No consent or approval of, giving
of notice to, registration with or taking of any other action in respect of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this
Agreement, except for any filing required by applicable securities laws, which filings will be effective by the time required thereby. 

(d)    Issued Securities. All issued and outstanding Ordinary Shares, Preferred Shares or any other securities of
the Company have been duly authorized and validly issued and are fully paid and nonassessable. All outstanding Ordinary Shares, Preferred Shares and any other securities were issued in full compliance with all applicable securities laws. In
addition, as of the date immediately preceding the date of the Original Agreement: 
 (i)    The
authorized capital of the Company consisted of (A) 610,000,000 Ordinary Shares, of which 205,410,426 shares were issued and outstanding, and (B) 320,000,000 Series A Preferred, of which 274,801,194 shares were issued and outstanding and convertible
into 274,801,194 Ordinary Shares. 
 (ii)    The Company had reserved 76,632,161 Ordinary Shares for
issuance under its equity incentive plan(s), under which 44,454,544 options were outstanding and 695,967 Ordinary Shares for issuance upon exercise of a warrant issued January 19, 2017. Except for the foregoing, and convertible promissory notes
in the aggregate principal amount of $30,000,000, there were no other options, warrants, conversion privileges or other rights presently outstanding to purchase or otherwise acquire any authorized but unissued shares of the Company’s capital
shares or other securities of the Company. The Company has no outstanding loans to any employee, officer or director of the Company, and the Company agrees not to enter into any such loan or otherwise guarantee the payment of any loan made to an
employee, officer or director by a third party. 
 (iii)    In accordance with the Company’s
Charter, no shareholder of the Company has preemptive rights to purchase new issuances of the Company’s capital shares, which right has not been waived. 

(e)    Registration Rights. The Company agrees that the Ordinary Shares issued and, if applicable, issuable upon
conversion of the Warrant Shares issued and issuable upon exercise of this Warrant, and, at all times (if any) when the Warrant Shares shall be Ordinary Shares, the Warrant Shares issued and issuable upon exercise of this Warrant, shall have the
“Piggyback” and S-3 registration rights pursuant to and as set forth in the Company’s registration rights agreement or similar agreement (the “Registration Rights Agreement”) on
a pari passu basis with the holders of outstanding Preferred Shares who are parties thereto. The provisions set forth in the Company’s Registration Rights Agreement or similar agreement relating to such registration rights in effect as of the
Effective Date may not be amended, modified or waived without the prior written consent of the Warrantholder unless such amendment, modification or waiver affects the rights associated with the Warrant Shares issued and issuable upon exercise hereof
in the same manner as such amendment, modification or waiver affects the rights associated with all outstanding Preferred Shares whose holders are parties thereto. 

(f)    Other Commitments to Register Securities. Except as set forth in this Agreement, the Company is not,
pursuant to the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding securities or any of its securities which may hereafter be issued. 

(g)    Exempt Transaction. Subject to the accuracy of the Warrantholder’s representations in Section 10,
the issuance of the Warrant Shares upon exercise of this Agreement, and, if applicable, the issuance of the Ordinary Shares upon conversion of the Warrant Shares, will each constitute a transaction exempt from (i) the registration requirements
of Section 5 of the Act, in reliance upon Section 4(a)(2) thereof, (ii) the qualification requirements of the applicable state securities laws, and (iii) applicable securities laws of the Cayman Islands. 

  
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 (h)    Compliance with Rule 144. If the Warrantholder proposes to
sell Warrant Shares issuable upon the exercise of this Agreement, or the Ordinary Shares into which such shares are convertible, in compliance with Rule 144 promulgated by the SEC, then, upon the Warrantholder’s written request to the Company,
the Company shall furnish to the Warrantholder, within ten (10) days after receipt of such request, a written statement confirming the Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may
be amended from time to time. 
 (i)    Information Rights. During the term of this Agreement, the Warrantholder
shall be entitled to the information rights contained in Section 7.1 of the Loan Agreement, and Section 7.1 of the Loan Agreement is hereby incorporated into this Agreement by this reference as though fully set forth herein,
provided, however, that the Company shall not be required to deliver a Compliance Certificate once all Indebtedness (as defined in the Loan Agreement) owed by the Company to the Warrantholder has been repaid; and provided,
further, that the right set forth in this Section 9(i) shall terminate upon an Initial Public Offering. 
 SECTION
10.    REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 
 This Agreement has been entered into by the Company in reliance upon
the following representations and covenants of the Warrantholder: 
 (a)    Investment Purpose. The right to
acquire Warrant Shares is being acquired for investment and not with a view to the sale or distribution of any part thereof, and the Warrantholder has no present intention of selling or engaging in any public distribution of such rights or the
Warrant Shares except pursuant to an effective registration statement or an exemption from the registration requirements of the Act. 

(b)    Private Issue. The Warrantholder understands (i) that the Warrant Shares issuable upon exercise of this
Agreement are not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Agreement will be exempt from the registration and qualifications requirements thereof, and
(ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 10. 

(c)    Financial Risk. The Warrantholder has such knowledge and experience in financial and business matters as to
be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 

(d)    Risk of No Registration. The Warrantholder understands that if the Company does not register with the SEC
pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement covering the securities under the Act is not in
effect when it desires to sell (i) the rights to purchase Warrant Shares pursuant to this Agreement or (ii) the Warrant Shares issuable upon exercise of the right to purchase, it may be required to hold such securities for an indefinite
period. The Warrantholder also understands that any sale of (A) its rights hereunder to purchase Warrant Shares or (B) Warrant Shares issued or issuable hereunder which might be made by it in reliance upon Rule 144 under the Act may be
made only in accordance with the terms and conditions of that Rule. 
 (e)    Accredited Investor. The
Warrantholder is an “accredited investor” within the meaning of Rule 501 of Regulation D of the Act, as presently in effect. 

SECTION 11.    TRANSFERS. 

Subject to compliance with applicable federal and state securities laws, this Agreement and all rights hereunder are transferable, in whole or in part, without
charge to the holder hereof (except for transfer 

  
 - 9 - 

 
taxes) upon surrender of this Agreement properly endorsed. Each taker and holder of this Agreement, by taking or holding the same, consents and agrees that this Agreement, when endorsed in blank,
shall be deemed negotiable, and that the holder hereof, when this Agreement shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other persons dealing with this Agreement as the
absolute owner hereof for any purpose and as the person entitled to exercise the rights represented by this Agreement. The transfer of this Agreement shall be recorded on the books of the Company upon receipt by the Company of a notice of transfer
in the form attached hereto as Exhibit III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. Until the Company receives
such Transfer Notice, the Company may treat the registered owner hereof as the owner for all purposes. The Company shall promptly, and in no event later than ten (10) days after being provided with an executed instrument of transfer, register
any transfer of the Warrant Shares made in accordance with the Charter. 
 SECTION 12.    MISCELLANEOUS. 

(a)    Effective Date. The provisions of this Agreement shall be construed and shall be given effect in all respects
as if it had been executed and delivered by the Company as of the Effective Date. This Agreement shall be binding upon any successors or assigns of the Company. 

(b)    Remedies. In the event of any default hereunder, the non-defaulting
party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where
the Warrantholder will not have an adequate remedy at law and where damages will not be readily ascertainable. The Company expressly agrees that it shall not oppose an application by the Warrantholder or any other person entitled to the benefit of
this Agreement requiring specific performance of any or all provisions hereof or enjoining the Company from continuing to commit any such breach of this Agreement. 

(c)    No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid
or seek to avoid the observance or performance of any of the terms of this Agreement, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order
to protect the rights of the Warrantholder against impairment. 
 (d)    Additional Documents. Upon the request
of Holder, the Company shall supply documentation reasonably necessary to evaluate whether to exercise (either in cash or on a net issuance basis) this Warrant, including without limitation, (i) any merger, purchase or asset sale agreement and
related documents and estimated payout allocations to each of the respective shareholder, warrant and option holders in connection with a Merger Event, (ii) the most recent capitalization tables, valuation reports (if any) pursuant to the
safe-harbor provisions of Section 409A of the Internal Revenue Code of 1986, as amended, and board determination of share value (including any waterfall or per share allocations provided to the shareholders) and (iii) the most recent
Charter. 
 (e)    Attorneys’ Fees. In any litigation, arbitration or court proceeding between the Company
and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Agreement. For the purposes of this Section 12(e), attorneys’ fees
shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery; (iii) any motion, proceeding or other activity of any kind in connection with an insolvency proceeding;
(iv) garnishment, levy and debtor and third-party examinations; and (v) post-judgment motions and proceedings of any kind, including without limitation any activity taken to collect or enforce any judgment. 

(f)    Severability. In the event any one or more of the provisions of this Agreement shall for any reason be held
invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes
closest to the intention of the parties underlying the invalid, illegal or unenforceable provision. 

  
 - 10 - 

 (g)    Notices. Except as otherwise provided herein, any notice,
demand, request, consent, approval, declaration, service of process or other communication that is required, contemplated or permitted under this Agreement or with respect to the subject matter hereof shall be in writing, and shall be deemed to have
been validly served, given, delivered and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery if transmission or delivery occurs on a business day at or before 5:00 pm in the time zone of the recipient, or,
if transmission or delivery occurs on a non-business day or after such time, the first business day thereafter, or the first business day after deposit with an overnight express service or overnight mail
delivery service; or (ii) the third calendar day after deposit in the United States mail, with proper first class postage prepaid, and shall be addressed to the party to be notified as follows: 

If to the Warrantholder: 
 HERCULES CAPITAL,
INC. 
 Legal Department 

Attention: Chief Legal Officer and Roy Liu 

400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Facsimile:
650-473-9194 
 Telephone: 650-289-3060 
 With a copy to: 

LATHAM & WATKINS LLP 

140 Scott Drive 
 Menlo Park, CA
94025 
 Attn: Haim Zaltzman 

Facsimile: 650-463-2600 

Telephone: 650-328-4600 

If to the Company: 
 STEALTH BIOTHERAPEUTICS
CORP 
 2nd Floor, Le Prince de Galles 

3-5 Avenue des Citronniers 

MC 98000, Monaco 
 Telephone:
377 97-97-47-37 

Facsimile: 377
97-97-47-30 
 With a copy to: 

STEALTH BIOTHERAPEUTICS INC. 

Attention: President 
 275 Grove
Street, Ste. 3-107 
 Newton, MA 02466 

Telephone: (617) 600-6888 

Facsimile: (617) 600-6884 

or to such other address as each party may designate for itself by like notice. 

(h)    Entire Agreement; Amendments. This Agreement constitutes the entire agreement and understanding of the
parties hereto in respect of the subject matter hereof, and supersedes and replaces in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject
matter hereof (including the Warrantholder’s proposal letter dated June 1, 2017). None of the terms of this Agreement may be amended except by an instrument executed by each of the parties hereto. 

  
 - 11 - 

 (i)    Headings. The various headings in this Agreement are
inserted for convenience only and shall not affect the meaning or interpretation of this Agreement or any provisions hereof. 

(j)    No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this
Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement. 
 (k)    No Waiver. No omission or delay by the
Warrantholder at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by the Company at any time designated, shall be a waiver of any such right or remedy to which the
Warrantholder is entitled, nor shall it in any way affect the right of the Warrantholder to enforce such provisions thereafter. 

(l)    Survival. All agreements, representations and warranties contained in this Agreement or in any document
delivered pursuant hereto shall be for the benefit of the Warrantholder and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement. 

(m)    Governing Law. This Agreement has been negotiated and delivered to the Warrantholder in the State of
California, and shall have been accepted by the Warrantholder in the State of California. Delivery of Warrant Shares to the Warrantholder by the Company under this Agreement is due in the State of California. This Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

(n)    Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement
may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (i) consents to personal jurisdiction in
Santa Clara County, State of California; (ii) waives any objection as to jurisdiction or venue in Santa Clara County, State of California; (iii) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid
courts; and (iv) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in
accordance with the requirements for notice set forth in Section 12(g), and shall be deemed effective and received as set forth in Section 12(g). Nothing herein shall affect the right to serve process in any other manner permitted by law
or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

(o)    Mutual Waiver of Jury Trial. Because disputes arising in connection with complex financial transactions are
most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such
applicable laws. EACH OF THE COMPANY AND THE WARRANTHOLDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY,
“CLAIMS”) ASSERTED BY THE COMPANY AGAINST THE WARRANTHOLDER OR ITS ASSIGNEE OR BY THE WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such Claims, including Claims that involve persons other than the
Company and the Warrantholder; Claims that arise out of or are in any way connected to the relationship between the Company and the Warrantholder; and any Claims for damages, breach of contract, specific performance or any equitable or legal relief
of any kind arising out of this Agreement. 
 (p)    Judicial Reference. If the waiver of jury trial set forth
above is ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting 

  
 - 12 - 

 
without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a referee selected by the Presiding Judge of Santa
Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(q)    Prejudgment Relief. In the event Claims are to be resolved by arbitration, either party may seek from a
court of competent jurisdiction identified in Section 12(n), any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are
otherwise subject to resolution by judicial reference. 
 (r)    Counterparts. This Agreement and any amendments,
waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall
constitute but one and the same instrument. 
 [Remainder of Page Intentionally Left Blank] 

  
 - 13 - 

 IN WITNESS WHEREOF, each of the parties hereto have caused this Agreement to be executed by its officers
thereunto duly authorized as of the Amended and Restated date set forth above. 
  

											
		 	COMPANY:	 		 	STEALTH BIOTHERAPEUTICS CORP
						
		 		 		 	By:	 	 /s/ Louise Garbarino
	 	
		 		 		 	Name:	 	 Louise Garbarino
	 	
		 		 		 	Title:	 	 Director
	 	
				
		 	WARRANTHOLDER:	 		 	HERCULES CAPITAL, INC.
						
		 		 		 	By:	 	 /s/ Zhuo Huang
	 	
		 		 		 	Name:	 	 Zhuo Huang
	 	
		 		 		 	Title:	 	 Associate General Counsel
	 	

 EXHIBIT I 

NOTICE OF EXERCISE 
  

	To:	 Stealth BioTherapeutics Corp 

 

	(1)	 The undersigned Warrantholder hereby elects to purchase
[            ] [Series [    ] Preferred Shares] [Ordinary Shares] of Stealth BioTherapeutics Corp, pursuant to the terms of the Agreement originally dated
June 30, 2017 (as amended from time to time, the “Agreement”) between Stealth BioTherapeutics Corp and the Warrantholder, and [CASH PAYMENT: tenders herewith payment of the Purchase Price in full, together with all applicable
transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Agreement to effect a Net Issuance.] 

  

	(2)	 Please issue a certificate or certificates representing said [Series [    ]
Preferred Shares] [Ordinary Shares] in the name of the undersigned or in such other name as is specified below. 

					
			
		 		 	  

		 		 	(Name)
			
		 		 	  

		 		 	(Address)
			
	WARRANTHOLDER:	 		 	HERCULES CAPITAL, INC.

							
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

		 		 	Date:	 	  

 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 
 The undersigned
Stealth BioTherapeutics Corp hereby acknowledges receipt of the “Notice of Exercise” from Hercules Capital, Inc. to purchase [            ] [Series
[    ] Preferred Shares] [Ordinary Shares] of Stealth BioTherapeutics Corp, pursuant to the terms of the Agreement, and further acknowledges that
[            ] shares remain subject to purchase under the terms of the Agreement. 
  

							
			
	COMPANY:	 		 	      Stealth BioTherapeutics Corp

 
							
				
		 		 	By:	 	  

		 		 	Title:	 	  

		 		 	Date:	 	  

 EXHIBIT III 

TRANSFER NOTICE 
 (To transfer or assign the
foregoing Agreement execute this form and supply required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the foregoing
Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

			
	  

	 (Please Print)
	 	
		
	whose address is	 	  

	  

  

			
		
	Dated:	 	  

 

			
	Holder’s Signature:	 	  

 

			
	Holder’s Address:	 	  

 

			
	  

  

					
	Signature Guaranteed:	 	  
	  	

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Agreement,
without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Agreement.EX-10.1

 Exhibit 10.1 

STEALTH PEPTIDES INTERNATIONAL INC. 

2006 SHARE INCENTIVE PLAN 
  

	1.	 Purpose 

The purpose of this 2006 Share Incentive Plan (the “Plan”) of Stealth Peptides International Inc., an exempted company incorporated
under the laws of the Cayman Islands (the “Company”), is to advance the interests of the Company’s shareholders by enhancing the Company’s ability to attract, retain and motivate persons who are expected to make important
contributions to the Company and by providing such persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with those of the Company’s shareholders. Except where the context
otherwise requires, the term “Company” shall include any of the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended, and any
regulations promulgated thereunder (the “Code”) and any other business venture (including, without limitation, joint venture or limited liability company) in which the Company has a controlling interest, as determined by its Board of
Directors (the “Board”). 
  

	2.	 Eligibility 

All of the Company’s employees, officers, directors, consultants and advisors are eligible to receive options, restricted shares and other
share-based awards (each, an “Award”) under the Plan. Each person who receives an Award under the Plan is deemed a “Participant.” 
  

	3.	 Administration and Delegation 

(a)     Administration by the Board. The Plan will be administered by the Board. The Board shall have authority to
grant Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Board may construe and interpret the terms of the Plan and any Award agreements entered into under
the Plan. The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of
such expediency. All decisions by the Board shall be made in the Board’s sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the
authority delegated by the Board shall be liable for any action or determination relating to or under the Plan made in good faith. 

(b)     Appointment of Committees. To the extent permitted by applicable law, the Board may delegate any or all of
its powers under the Plan to one or more committees or subcommittees of the Board (a “Committee”). All references in the Plan to the “Board” shall mean the Board or a Committee of the Board to the extent that the Board’s
powers or authority under the Plan have been delegated to such Committee. 

	4.	 Shares Available for Awards. 

(a)    Number of Shares. Subject to adjustment under Section 8, Awards may be made under the Plan for up to
76,632,161 Ordinary Shares, of a nominal par value of $0.0001 per share, of the Company (the “Ordinary Shares”). If any Award expires or is terminated, surrendered or canceled without having been fully exercised is forfeited in whole or in
part (including as the result of the Ordinary Shares subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase right) or results in any Ordinary Shares not being issued, the unused
Ordinary Shares covered by such Award shall again be available for the grant of Awards under the Plan. Further, Ordinary Shares tendered to the Company by a Participant to exercise an Award shall be added to the number of Ordinary Shares available
for the grant of Awards under the Plan. However, in the case of Incentive Options (as hereinafter defined), the foregoing provisions shall be subject to any limitations under the Code. Shares issued under the Plan may consist in whole or in part of
authorized but unissued shares or treasury shares. 
 (b)    Substitute Awards. In connection with a merger or
consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock based awards granted by such entity or an affiliate
thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set forth
in Section 4(a) except as may be required by reason of Section 422 and related provisions of the Code. 
  

	5.	 Share Options 

(a)    General. The Board may grant options to purchase Ordinary Shares (each, an “Option”) and determine
the number of Ordinary Shares to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws,
as it considers necessary or advisable. An Option which is not intended to be an Incentive Option (as hereinafter defined) shall be designated a “Nonstatutory Option.” 

(b)    Incentive Options. An Option that the Board intends to be an “incentive stock option” as defined
in Section 422 of the Code (an “Incentive Option”) shall only be granted to employees of the Company, any of the present or future parent or subsidiary corporations of the Company as defined in Sections 424(e) or (f) of the Code,
and any other entities the employees of which are eligible to receive Incentive Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. The Company shall have no
liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Option is not an Incentive Option or for any action taken by the Board, including without limitation the conversion of an
Incentive Option to a Nonstatutory Option. 
 (c)    Exercise Price. The Board shall establish the exercise price
of each Option and specify such exercise price in the applicable option agreement. The exercise price shall be not less than 100% of the Fair Market Value (as defined below) on the date the Option is granted. 

  
 - 2 - 

 (d)    Duration of Options. Each Option shall be exercisable at
such times and subject to such terms and conditions as the Board may specify in the applicable option agreement. 

(e)    Exercise of Option. Options may be exercised by delivery to the Company of a written notice of exercise
signed by the proper person or by any other form of notice (including electronic notice) approved by the Board together with payment in full as specified in Section 5(f) for the number of shares for which the Option is exercised. Ordinary
Shares subject to the Option will be delivered by the Company following exercise either as soon as practicable or, subject to such conditions as the Board shall specify, on a deferred basis (with the Company’s obligation to be evidenced by an
instrument providing for future delivery of the deferred shares at the time or times specified by the Board). 

(f)    Payment Upon Exercise. Ordinary Shares purchased upon the exercise of an Option granted under the Plan shall
be paid for as follows: 
 (1)    in cash or by check, payable to the order of the Company; 

(2)    except as the Board may otherwise provide in an option agreement, by (i) delivery of an irrevocable and
unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and
unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding; 

(3)    when the Ordinary Shares are registered under the United States Securities Exchange Act of 1934 (or comparable
securities laws of any jurisdiction outside of the United States), by delivery of Ordinary Shares owned by the Participant valued at their fair market value as determined by (or in a manner approved by) the Board (“Fair Market Value”),
provided (i) such method of payment is then permitted under applicable law, (ii) such Ordinary Shares, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by
the Board in its discretion and (iii) such Ordinary Shares are not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements; 

(4)    to the extent permitted by applicable law and by the Board, by (i) delivery of a promissory note of the
Participant to the Company on terms determined by the Board, or (ii) payment of such other lawful consideration as the Board may determine; or 

(5)    by any combination of the above permitted forms of payment. 

(g)    Repricing of Options. The Board may, without shareholder approval, amend any outstanding Option granted
under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Option. The Board may also, without shareholder approval, cancel any outstanding Option and grant in substitution
therefor new Awards covering the same or a different number of Ordinary Shares and having an exercise price per share lower than the then-current exercise price per share of the cancelled Option. 

  
 - 3 - 

	6.	 Restricted Shares 

(a)    General. The Board may grant Awards entitling recipients to acquire Ordinary Shares, subject to the right of
the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the
applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award (each, a “Restricted Share Award”). 

(b)    Terms and Conditions. The Board shall determine the terms and conditions of a Restricted Share Award,
including the conditions for repurchase (or forfeiture) and the issue price, if any. 
 (c)    Share
Certificates. Any share certificates issued in respect of a Restricted Share Award shall be registered in the name of the Participant and, unless otherwise determined by the Board, deposited by the Participant, together with a share power
endorsed in blank, with the Company (or its designee). At the expiration of the applicable restriction periods, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant or if the
Participant has died, to the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s death (the “Designated
Beneficiary”). In the absence of an effective designation by a Participant, “Designated Beneficiary” shall mean the Participant’s estate. 

(d)    Dividends. Participants holding Restricted Shares will be entitled to all ordinary cash dividends paid with
respect to such Shares. If any such dividends or distributions are paid in shares, or consist of a dividend or distribution to holders of Ordinary Shares other than an ordinary cash dividend, the shares, cash or other property will be subject to the
same restrictions on transferability and forfeitability as the Restricted Shares with respect to which they were paid. Each dividend payment will be made no later than the end of the calendar year in which the dividends are paid to shareholders of
that class of Ordinary Shares or, if later, the 15th day of the third month following the date the dividends are paid to shareholders of that class of Ordinary Shares. 
  

	7.	 Other Share-Based Awards 

Other Awards of Ordinary Shares, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, Ordinary
Shares or other property, may be granted hereunder to Participants (“Other Share Awards”), including without limitation appreciation rights and Awards entitling recipients to receive Ordinary Shares to be delivered in the future. Such
Other Share Awards shall also be available as a form of payment in the settlement of other Award granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Share Awards may be paid in Ordinary
Shares or cash, as the Board shall determine. Subject to the provisions of the Plan, the Board shall determine the conditions of each Other Share Awards, including any purchase price applicable thereto.     

  
 - 4 - 

	8.	 Adjustments for Changes in Ordinary Shares and Certain Other Events 

(a)    Changes in Capitalization. In the event of any share split, reverse share split, share dividend,
recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any distribution to holders of Ordinary Shares other than an ordinary cash
dividend, (i) the number and class of securities available under this Plan, (ii) the number and class of securities and exercise price per share of each outstanding Option, (iii) the repurchase price per share subject to each
outstanding Restricted Share Award, and (iv) the terms of each other outstanding Award shall be appropriately adjusted by the Company (or substituted Awards may be made, if applicable) to the extent determined by the Board. 

(b)    Reorganization Events 

(1)    Definition. A “Reorganization Event” shall mean: (a) any merger or consolidation of the
Company with or into another entity as a result of which all of the Ordinary Shares of the Company are converted into or exchanged for the right to receive cash, securities or other property or are cancelled by or (b) any exchange of all of the
Ordinary Shares of the Company for cash, securities or other property pursuant to a share exchange transaction or (c) any liquidation or dissolution of the Company. 

(2)    Consequences of a Reorganization Event on Awards Other than Restricted Share Awards. In connection with a
Reorganization Event, the Board shall take any one or more of the following actions as to all or any outstanding Awards on such terms as the Board determines: (i) provide that Awards shall be assumed, or substantially equivalent Awards shall be
substituted, by the acquiring or succeeding corporation (or an affiliate thereof); (ii) upon written notice to a Participant, provide that the Participant’s unexercised Options or other unexercised Awards shall become exercisable in full and
will terminate immediately prior to the consummation of such Reorganization Event unless exercised by the Participant within a specified period following the date of such notice; (iii) provide that outstanding Awards shall become realizable or
deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Reorganization Event; (iv) in the event of a Reorganization Event under the terms of which holders of Ordinary Shares will receive upon
consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), make or provide for a cash payment to a Participant equal to (A) the Acquisition Price times the number of Ordinary
Shares subject to the Participant’s Options or other Awards (to the extent the exercise price does not exceed the Acquisition Price) minus (B) the aggregate exercise price of all such outstanding Options or other Awards, in exchange for
the termination of such Options or other Awards; (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into the right to receive liquidation proceeds (if applicable, net of the exercise price
thereof); and (vi) any combination of the foregoing. 
 For purposes of clause (i) above, an Option shall be considered assumed
if, following consummation of the Reorganization Event, the Option confers the right to purchase, for each Ordinary Share subject to the Option immediately prior to the consummation of the Reorganization Event, the consideration (whether cash,
securities or other property) received as a result of the Reorganization Event by holders of Ordinary Shares for each Ordinary Share held 

  
 - 5 - 

 
immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding Ordinary Shares); provided, however, that if the consideration received as a result of the Reorganization Event is not solely Ordinary Shares (or their equivalent) of the acquiring or succeeding corporation (or an affiliate thereof), the
Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of Options to consist solely of Ordinary Shares (or their equivalent) of the acquiring or succeeding corporation
(or an affiliate thereof) equivalent in fair market value to the per share consideration received by holders of outstanding Ordinary Shares as a result of the Reorganization Event. 

(3)    Consequences of a Reorganization Event on Restricted Share Awards. Upon the occurrence of a Reorganization
Event other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Share Award shall inure to the benefit of the Company’s successor and shall apply to the cash,
securities or other property which the Ordinary Shares were converted into or exchanged for pursuant to such Reorganization Event in the same manner and to the same extent as they applied to the Ordinary Shares subject to such Restricted Share
Award. Upon the occurrence of a Reorganization Event involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Share Award or any other agreement
between a Participant and the Company, all restrictions and conditions on all Restricted Share Awards then outstanding shall automatically be deemed terminated or satisfied. 
  

	9.	 General Provisions Applicable to Awards 

(a)    Transferability of Awards. Except as the Board may otherwise determine or provide in an Award, Awards shall
not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive
Option, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, shall include references to
authorized transferees. 
 (b)    Documentation. Each Award shall be evidenced in such form (written, electronic
or otherwise) as the Board shall determine. Each Award may contain terms and conditions in addition to those set forth in the Plan. 

(c)    Board Discretion. Except as otherwise provided by the Plan, each Award may be made alone or in addition or
in relation to any other Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly. 

(d)    Termination of Status. The Board shall determine the effect on an Award of the disability, death,
termination or other cessation of employment, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant’s legal
representative, conservator, guardian or Designated Beneficiary, may exercise rights under the Award. 

  
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 (e)    Withholding. Each Participant shall pay to the Company, or
make provision satisfactory to the Company for payment of, any taxes required by law to be withheld in connection with an Award to such Participant. Except as the Board may otherwise provide in an Award, for so long as the Ordinary Shares are
registered under the Exchange Act, Participants may satisfy such tax obligations in whole or in part by delivery of Ordinary Shares, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; provided,
however, except as otherwise provided by the Board, that the total tax withholding where shares are being used to satisfy such tax obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory
withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares surrendered to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture,
unfulfilled vesting or other similar requirements. The Company may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind otherwise due to a Participant. 

(f)    Amendment of Award. The Board may amend, modify or terminate any outstanding Award, including but not
limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Option to a Nonstatutory Option, provided that the Participant’s consent to such action
shall be required unless the Board determines that the action, taking into account any related action, would not materially and adversely affect the Participant. 

(g)    Conditions on Delivery of Shares. The Company will not be obligated to deliver any Ordinary Shares pursuant
to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all
other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable share exchange or share market rules and regulations, and (iii) the Participant has
executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules or regulations. 

(h)    Acceleration. The Board may at any time provide that any Award shall become immediately exercisable in full
or in part, free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be. 
  

	10.	 Miscellaneous 

(a)    No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and
the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its
relationship with a Participant free from any liability or claim under the Plan, except as expressly provided in the applicable Award. 

(b)    No Rights As Shareholders. Subject to the provisions of the applicable Award, no Participant or Designated
Beneficiary shall have any rights as a shareholder with respect to any 

  
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 Ordinary Shares to be distributed with respect to an Award until becoming the record holder of such shares
on the Register of Members of the Company. Notwithstanding the foregoing, in the event the Company effects a split of the Ordinary Shares by means of a share dividend and the exercise price of and the number of shares subject to such Option are
adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution date for such share dividend shall be entitled
to receive, on the distribution date, the share dividend with respect to the Ordinary Shares acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such
share dividend. 
 (c)    Effective Date and Term of Plan. The Plan shall become effective on the date on which
it is adopted by the Board. No Awards shall be granted under the Plan after the completion of 10 years from the earlier of (i) the date on which the Plan was adopted by the Board or (ii) the date the Plan was approved by the Company’s
shareholders, but Awards previously granted may extend beyond that date. 
 (d)    Amendment of Plan. The Board
may amend, suspend or terminate the Plan or any portion thereof at any time. 
 (e)    Authorization of Sub-Plans. The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various
jurisdictions. The Board shall establish such sub-plans by adopting supplements to this Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board deems necessary or
desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement
shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction which is not the subject of such supplement. 

(f)    Compliance with Code Section 409A. No Award shall provide for a deferral of compensation that does not
comply with Section 409A of the Code, unless the Board, at the time of grant, specifically provides that the Award is not intended to comply with Section 409A of the Code. The Company shall have no liability to a Participant, or any other
party, if an Award that is intended to be exempt from, or compliant with, Section 409A, is not so exempt or compliant or for any other action taken by the Board. 

(g)    Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and interpreted
in accordance with the laws of the State of Delaware, without regard to any applicable conflicts of law. 

  
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