Document:

Exhibit 10.11

 

FIRST AMENDMENT TO 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This First Amendment to Amended and Restated Employment
Agreement (this “First Amendment”) is dated as of September 23, 2022 (the “First Amendment Effective Date”), between
Blueprint Medicines Corporation, a Delaware corporation (the “Company”), and Philina Lee (the “Executive”). Capitalized
terms used and not defined herein shall have the meanings ascribed to such terms in the Employment Agreement (as defined below).

 

WHEREAS, the Company and the Executive are parties
to the Amended and Restated Employment Agreement dated as of January 19, 2022 and effective as of April 4, 2022 (the “Employment
Agreement”); and

 

WHEREAS, the Company and the Executive desire to
amend the Employment Agreement as set forth below;

 

NOW, THEREFORE, for good and valuable consideration,
the receipt of which is hereby confirmed, the Company and the Executive agree that the Employment Agreement is amended as follows:

 

1.             
Section 2 of the Employment Agreement shall be amended and restated as follows:

 

“2.            Compensation and Related Matters.

 

(a)     
Base Salary. Effective as of the Effective Date, the Executive’s annual base salary shall be $440,000.00. The Executive’s
base salary shall be re-determined annually by the Board or the Compensation Committee of the Board (the “Compensation Committee”)
and shall be subject to increase but not decrease while Executive is serving in the Chief Commercial Officer role. The annual base salary
in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in a manner that is consistent
with the Company’s usual payroll practices for senior executives.

 

(b)     
 Equity. The Executive may be eligible to receive future equity awards under the Company’s 2015 Stock Option
and Incentive Plan (as amended and/or restated from time to time) or such other equity plan as then in effect, in the sole discretion
of the Board or the Compensation Committee.

 

(c)     
Incentive Compensation. During the Term, the Executive shall be eligible to earn cash incentive compensation as determined
by the Board or the Compensation Committee from time to time. More specifically:

 

(i)     Effective
as of April 4, 2022, Executive’s target annual incentive compensation shall be 50% of the Base Salary, subject to upward but
not downward adjustment (except in connection with a proportional reduction in compensation to all or substantially all of the
Company’s employees). The Board or Compensation Committee shall weigh its bonus determination as follows: 75% on Company
performance and 25% on Executive’s individual performance, subject to adjustment as determined by the Board or the
Compensation Committee from time to time.

 

    - 1 -

     

    

 

(ii)  
For the period of January 1, 2022 through April 3, 2022, the Executive is eligible to earn prorated incentive compensation
under the Original Employment Agreement in connection with her services as Senior Vice President, Portfolio Strategy of the Company during
such period, as determined by the Board or the Compensation Committee based on the Executive’s target annual incentive compensation
equal to 35% of her annual base salary as in effect during such period (and the Board or the Compensation Committee shall weigh its bonus
determination 50% on Company performance and 50% on the Executive’s individual performance), provided the Executive remains
employed by the Company on the day such incentive compensation is paid.

 

(iii)   
The Executive’s target annual incentive compensation in effect at any given time is referred to herein as “Target
Incentive Compensation”; provided, that, for purposes of Section 5 hereof “Target Incentive Compensation” shall mean
the Executive’s target annual incentive compensation then in effect or, if higher, in effect immediately prior to the Sale Event,
and shall be applied to the Base Salary described in such section. To earn incentive compensation, the Executive must remain employed
by the Company in good standing through the date such incentive compensation is paid.

 

(d)      Expenses.
The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive during the Term
in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its
senior executive officers.

 

(e)      Other Benefits. During
the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect
from time to time, subject to the terms of such plans.

 

(f)       Vacations. During the Term,
the Executive shall be entitled to paid vacation in accordance with the Company’s applicable policy.”

 

2.             
The Executive hereby gives express written consent in this First Amendment for the changes described herein. Accordingly, the Executive
acknowledges and agrees that the changes described herein shall not be the basis of a “Good Reason” trigger as defined in
the Employment Agreement, and therefore the Executive shall not be eligible to resign for Good Reason as a result of any such changes
or in connection with this First Amendment.

 

3.             
To the extent that there is any inconsistency between the terms and conditions of this First Amendment and the terms and conditions
of the Employment Agreement, the terms and conditions of this First Amendment shall prevail.

 

4.              This
First Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an
original, but such counterparts shall together constitute one and the same document. Counterparts may be delivered via facsimile,
electronic mail (including pdf or any electronic signature complying with the U.S. Federal ESIGN Act of 2000) or other transmission
method, and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all
purposes.

 

5.             
Except as amended hereby, the Employment Agreement remains in full force and effect and, as amended hereby, the Employment Agreement
represents the entire agreement between the Executive and the Company, and there are no other agreements, written or oral, relating to
the subject matter hereof. On and after the First Amendment Effective Date, all references in the Employment Agreement to “this
Agreement” (including “hereof,” “herein” and similar words or phrases) shall mean the Employment Agreement,
as amended by this First Amendment.

 

    - 2 -

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this First Amendment as of the date first written above.

 

	 	BLUEPRINT MEDICINES CORPORATION
	 	 	 
	 	By:	/s/ Kathryn Haviland
	 	Name:	Kathryn Haviland
	 	Title:	President and Chief Executive Officer
	 	 
	 	EXECUTIVE
	 	 
	 	/s/ Philina Lee

	 	Philina Lee

 

    - 3 -Exhibit 4.4

 

THIS
WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR THE SECURITIES LAWS OF ANY STATE. NEITHER THIS WARRANT NOR SUCH SECURITIES MAY BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR
OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS,
OR SOME EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND LAWS.

 

	Warrant
    No. [_____]	ORCHESTRA
    BIOMED, INC.	[______]
    Shares

 

COMMON
STOCK EXCHANGE WARRANT

 

This
Warrant, issued to [______________________] or its registered assigns (the “Holder”), by ORCHESTRA BIOMED, INC., a
Delaware corporation (the “Company”), is dated as of [__________], 2018 (the “Warrant Issue Date”).

 

This
Warrant is one of a series of warrants of like tenor (each, a “Warrant” and collectively, the “Warrants”)
that have been issued pursuant to (i) that certain Agreement and Plan of Merger, dated January 22, 2018, by and among the Company, Caliber
Therapeutics, Inc., a Delaware corporation (“Caliber”) and Caliber Merger Sub, Inc., a Delaware corporation and wholly-owned
subsidiary of the Company, (ii) that certain Agreement and Plan of Merger, dated January 22, 2018, by and among the Company, BackBeat
Medical, Inc., a Delaware corporation (“Backbeat”) and BackBeat Merger Sub, Inc., a Delaware corporation and wholly-owned
subsidiary of the Company and (iii) that certain Agreement and Plan of Merger, dated January 22, 2018, by and among the Company, FreeHold
Surgical, Inc., a Delaware corporation (“FreeHold”) and FreeHold Merger Sub, Inc., a Delaware corporation and wholly-owned
subsidiary of the Company (together, the “Agreements”), pursuant to which the holders of warrants to purchase capital
stock of Caliber, Backbeat and/or FreeHold were required to exchange said warrants for the Warrants, in accordance with the terms of
each respective Agreement. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Agreements.

 

1. Purchase
of Shares; Exercise Period. Subject to the terms and conditions hereinafter set forth, the Holder is entitled, upon surrender
of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the Holder in writing), to
purchase from the Company [___________] shares of Common Stock of the Company, par value $0.0001 per share (“Common Stock”),
subject to adjustment as set forth in Sections 2 and 6 herein (the “Shares”). This Warrant shall be
exercisable at any time following the Warrant Issue Date and shall expire on [5 years from date of issuance]. In the event of
the sale of the Company (whether by merger, consolidation or otherwise) or substantially all of its assets (a “Sale Event”),
the Holder shall be provided written notice of such Sale Event at least ten (10) business days prior to such Sale Event and shall be
entitled to exercise this Warrant and purchase the Shares prior to such Sale Event.

 

    1

     

    

 

2. Exercise
Price.

 

(a) Exercise
Price. The exercise price per share for which the Shares may be purchased pursuant to the terms of this Warrant shall be $5.00 per
share (such price is herein referred to as the “Exercise Price”).

 

(b) Adjustment
of Exercise Price. If the Company shall, at any time or from time to time after the date hereof, issue or sell any Shares without
consideration or for consideration per share less than the Exercise Price in effect immediately prior to such issuance or sale, then
immediately upon such issuance or sale, the Exercise Price in effect immediately prior to such issuance or sale shall be reduced (and
in no event increased) to an Exercise Price equal to the quotient obtained by dividing:

 

(i) the
sum of (A) the product obtained by multiplying the number of Shares outstanding immediately prior to such issuance or sale (or deemed
issuance or sale) by the Exercise Price then in effect plus (B) the aggregate consideration, if any, received by the Company upon such
issuance or sale (or deemed issuance or sale); by

 

(ii) the
sum of (A) the Shares outstanding immediately prior to such issuance or sale plus (B) the aggregate number of Shares issued or sold by
the Company in such issuance or sale.

 

(c) Adjustment
to Number of Shares Upon Adjustment to Exercise Price. Upon any and each adjustment of the Exercise Price as provided in Section
2(b), the number of Shares issuable upon the exercise of this Warrant immediately prior to any such adjustment shall be increased
to a number of Shares equal to the quotient obtained by dividing:

 

(i) the
product of (A) the Exercise Price in effect immediately prior to any such adjustment multiplied by (B) the number of Shares issuable
upon exercise of this Warrant immediately prior to any such adjustment; by

 

(ii) the
Exercise Price resulting from such adjustment.

 

3. Method
of Exercise. While this Warrant remains outstanding and exercisable in accordance with Section 2 above, the Holder
may exercise, in whole or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:

 

(a) the
surrender of the Warrant, together with a duly executed copy of the form of Notice of Election attached hereto, to the Chief Financial
Officer of the Company at its principal offices; and

 

(b) by
either (i) the payment to the Company of an amount equal to the aggregate Exercise Price for the number of Shares being purchased (such
amount, the “Aggregate Exercise Price”) in the form of cash or by wire transfer of immediately available funds to
an account designated by the Company or (ii) by tendering Warrants in a cashless exercise as set forth in Section 3(c) (a “Cashless
Exercise”).

 

    2

     

    

  

(c) Upon
exercise of the Warrant, unless otherwise elected by the exercising Holder pursuant to the terms hereof, Shares to be acquired upon the
exercise of the Warrant will be applied automatically to pay the Exercise Price in connection with a Cashless Exercise of the Warrant.
Any Shares transferred to the Company as cashless payment of the Exercise Price under the Warrant shall be valued at the fair value of
a share of Common Stock for purposes of determining the Exercise Price. In the event that the Holder elects to effect a Cashless Exercise,
(i) if the fair value of a share of Common Stock is less than or equal to the Exercise Price, the Holder shall not be entitled to receive
any Shares, and (ii) if the fair value of a share of Common Stock is greater than the Exercise Price, the Holder shall receive a number
of Warrant Shares to be calculated as follows:

 

	 	X	=	Y
    * (A - B)	 
	 	 	 	A	 

 

with:

 

	 	X
    	=	the
    number of Shares to be issued to the Holder following such Cashless Exercise;
	 	 	 	 
	 	Y	=	the
    number of Shares purchasable by such Holder under the Warrant or, if only a portion of the Warrant is being exercised, the portion
    of the Warrant being exercised;
	 	 	 	 
	 	A
    	=	the
    fair value of a share of Common Stock as of the applicable date; and
	 	 	 	 
	 	B
    	=	the
    Exercise Price as of the applicable date.

 

Solely
for the purposes of this paragraph, “fair value” per share of Common Stock shall mean the average Closing Price (as
defined below) per share of Common Stock for the twenty (20) trading days immediately preceding the date on which the Notice of Exercise
is deemed to have been sent to the Company. “Closing Price” means, for any date, the price determined by the first
of the following clauses that applies:  (a) if the Common Stock is then listed or quoted on the New York Stock Exchange, the
NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market or any other national securities exchange,
the closing price per share of the Common Stock for such date (or the nearest preceding date) on the primary eligible market or exchange
on which the Common Stock is then listed or quoted; (b) if prices for the Common Stock are then quoted on the OTC Bulletin Board or any
tier of the OTC Markets Group, the closing bid price per share of the Common Stock for such date (or the nearest preceding date) so quoted;
or (c) if prices for the Common Stock are then reported in the “Pink Sheets” published by the OTC Markets Group (or a similar
organization or agency succeeding to its functions of reporting prices), the most recent closing bid price per share of the Common Stock
so reported. If the Common Stock is not publicly traded as set forth above, the “fair value” per share of Common Stock shall
be reasonably and in good faith determined by the Board of Directors of the Company as of the date which the Notice of Exercise is deemed
to have been sent to the Company.

 

    3

     

    

 

For
purposes of Rule 144 promulgated under the Securities Act of 1933, as amended, it is intended, understood and acknowledged that the Warrant
Shares issued in a Cashless Exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for such
shares shall be deemed to have commenced, on the Effective Date of this Warrant.

 

4. Certificates
for Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more certificates for the number of Shares
so purchased may be issued by the Company with appropriate restrictive legends, if applicable.

 

5. Issuance
of Shares. The Company covenants that the Shares, when issued pursuant to the exercise of this Warrant, will be duly and validly
issued, fully paid and nonassessable and free from all taxes, liens, and charges with respect to the issuance thereof. The Company further
covenants and agrees that during the period within which the rights represented by this Warrant may be exercised, the Company will have
authorized and reserved, for the purpose of issue or transfer upon exercise of the rights evidenced by this Warrant, a sufficient number
of shares of authorized but unissued capital stock, or other securities and property, when and as required to provide for the exercise
of the rights represented by this Warrant. The Company will take all such action as may be necessary to assure that such shares of capital
stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any domestic
securities exchange upon which the capital stock may be listed.

 

6. Other
Adjustments of Exercise Price and Number of Shares.

 

(a) Subdivisions,
Combinations and Other Issuances. If the Company, at any time prior to the expiration of this Warrant: (i) pays a stock dividend
or otherwise makes a distribution or distributions on shares of its Common Stock, (ii) subdivides outstanding shares of Common Stock
into a larger number of shares or (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a
smaller number of shares, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the
number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator
shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise
of this Warrant shall be proportionately adjusted such that the Aggregate Exercise Price of this Warrant shall remain unchanged.  Any
adjustment made pursuant to this Section 6(a) shall become effective immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the
case of a subdivision or combination. The Exercise Price and the Shares, as so adjusted, shall be readjusted in the same manner upon
the happening of any successive event or events described in this Section 6(a).

 

    4

     

    

  

(b) Reclassification,
Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the Common Stock of the Company
(other than as a result of a subdivision, combination or stock dividend provided for in Section 6(a) above), then, as
a condition of such reclassification, reorganization, or change, lawful provision shall be made, and duly executed documents evidencing
the same from the Company or its successor shall be delivered to the Holder, so that the Holder shall have the right at any time prior
to the expiration of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and
amount of shares of stock and other securities and property receivable in connection with such reclassification, reorganization, or change
by a holder of the same number of Shares as were purchasable by the Holder immediately prior to such reclassification, reorganization,
or change. In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions
hereof shall thereafter be applicable with respect to any shares of stock or other securities and property deliverable upon exercise
hereof, and appropriate adjustments shall be made to the purchase price per share payable hereunder, provided the aggregate purchase
price shall remain the same.

 

(c) Distributions
of Other Property. In case the Company shall distribute to the holders of the Common Stock of the Company (including any such distribution
made in connection with a consolidation or merger in which the Company is the continuing corporation) evidences of its indebtedness or
assets (excluding cash dividends or distributions payable out of consolidated earnings or earned surplus and dividends or distributions
referred to in Section 6(a) above) or rights, options, or warrants, or convertible or exchangeable securities containing the right
to subscribe for or purchase debt securities, assets, or other securities of the Company (excluding those referred to in Section 6(a) above),
then in lieu of an adjustment in the number of Shares purchasable upon the exercise of this Warrant, the Holder upon the exercise thereof
at any time after such distribution shall be entitled to receive from the Company the stock or other securities to which the Holder would
have been entitled if the Holder had exercised the Warrant immediately prior thereto, all subject to further adjustment as provided in
this Section 6; provided, however, that no adjustment in respect of cash dividends or interest on such stock or other securities
shall be made during the term of this Warrant or upon the exercise of this Warrant.

 

(d) Notice
of Certain Events. If, at any time prior to the expiration of this Warrant, (i) the Company shall declare any dividend on the
Common Stock of the Company payable in cash or shares of capital stock of the Company; or (ii) the Company shall authorize the issuance
to all holders of shares of Common Stock of the Company of rights, options, or warrants to subscribe for or purchase shares of the capital
stock of the Company or of any other subscription rights or warrants; or (iii) the Company shall authorize the distribution to all
holders of shares of Common Stock of the Company evidences of its indebtedness or assets; or (iv) the Board of Directors of the
Company shall have approved any consolidation or merger to which the Company is a party and for which approval of any stockholders of
the Company is required, or any sale or lease of all or substantially all of the assets of the Company or any reclassification or change
of the Shares issuable upon exercise of this Warrant (other than a change in par value or as a result of a subdivision or combination),
or a tender offer or exchange offer for Shares; or (v) the voluntary or involuntary dissolution, liquidation, or winding up of the
Company occurs; or (vi) the Company proposes to take any action that would require an adjustment in the number or kind of securities
issuable upon exercise of this Warrant pursuant to this Section 6; then the Company shall cause to be given to the Holder,
at least twenty (20) calendar days prior to the applicable record date specified, or promptly in the case of events for which there is
no record date set by the Board of Directors therefor, a written notice stating (A) the date as of which the holders of record of
shares of Common Stock of the Company to be entitled to receive any such dividends, rights, options, warrants, or distribution are to
be determined, or (B) the initial expiration date set forth in any tender offer or exchange offer for shares of Common Stock of
the Company, or (C) the date on which any such consolidation, merger, sale, lease, reclassification, change, dissolution, liquidation,
or winding up is expected to become effective or consummated, and the date as of which it is expected that holders of record of shares
shall be entitled to exchange such shares for securities or other property, if any, deliverable upon such consolidation, merger, sale,
transfer, lease, reclassification, change, dissolution, liquidation, or winding up; provided, however, that the failure to give any such
notice shall not affect the validity of any action taken by the Company.

 

    5

     

    

  

(e) Notice
of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the Warrant,
or in the coverage rate, the Company shall promptly notify the Holder of such event and of the number of Shares or other securities or
property thereafter purchasable upon exercise of this Warrant.

 

7. 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 cash payment therefor on the basis of the Exercise Price then
in effect.

 

8. Representations
of the Company. The Company hereby represents and warrants to the Holder as follows:

 

(a) The
execution and delivery of this Warrant has been duly and properly authorized by all requisite corporate action of the Company, its Board
of Directors and stockholders, and no consent of any other person is required as a prerequisite to the validity and enforceability of
this Warrant that has not been obtained. The Company has the full legal right, power and authority to execute and deliver this Warrant
and to perform its obligations hereunder and thereunder.

 

(b) Neither
the execution nor delivery of this Warrant (including, without limitation, issuance of the Shares) will conflict with, result in a breach
of the terms, conditions or provisions of, constitute a default under, result in any violation of, require any consent, approval or other
action by or notice to or filing with any court or governmental body pursuant to the Certificate of Incorporation or Bylaws of the Company,
except to the extent that the approval of certain of the Company’s shareholders will be required in connection with the authorization
and issuance of the Shares by the Company and will be obtained prior to any such issuance.

 

(c) The
Warrant is, and assuming the Holder continues to be an “accredited investor” within the meaning of Rule 501 of Regulation
D promulgated under the Securities Act of 1933, as amended, as such rule is presently in effect and assuming no change in applicable
law, the Shares will be issued by the Company to the Holder in a transaction exempt from registration and qualification under applicable
federal and state securities laws.

 

    6

     

    

  

9. Transfers
of Warrant.

 

(a) Transferability.
Subject to compliance with any applicable securities laws, this Warrant and all rights hereunder are transferable, in whole or in part,
upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of
this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay
any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute
and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations
specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not
so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned in accordance herewith, until a new Warrant
is issued pursuant to the preceding sentence, may be exercised by such assignee for the purchase of Shares as if such assignee were the
Holder.

 

(b) New
Warrant. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company,
together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or
its agent or attorney. Subject to compliance with Section 9(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice.

 

(c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose, in the name of
the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner
hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to
the contrary.

 

10. Successors
and Assigns. The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the
Holders hereof and their respective successors and assigns.

 

11. Amendments
and Waivers. Any term of this Warrant may be amended and the observance of any term of this Warrant may be waived (either generally
or in a particular instance and either retroactively or prospectively) with the written consent of the Company and the holders of Warrants
holding fifty percent (50%) of the aggregate number of Shares for which all Warrants are exercisable. Notwithstanding the foregoing,
no amendment or waiver of any of the terms of this Warrant shall affect any holder of Warrants or subset of such holders in a manner
different from the other holders of Warrants so as to have a disproportionately negative effect on such holder or subset of holders,
and no waiver or modification that applies to one or more (but not all) holders of Warrants differently than to all such holders shall
become effective until approved by such differently affected holder(s) of Warrants.

 

12. Notices.
All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery
to the party to be notified; (b) when sent by confirmed electronic mail, telex or facsimile if sent during normal business hours
of the recipient, if not, then on the next business day; (c) five (5) days after having been sent by registered or certified
mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at 150 Union Square
Drive, New Hope, PA 18938 and to the Holder at the address set forth on the books and records of the Company, as applicable, or
at such other address as the Company or the Holder may designate by written notice to the other parties hereto.

 

    7

     

    

  

13. Attorneys’
Fees. If any action of law or equity is necessary to enforce or interpret the terms of this Warrant, the prevailing party shall
be entitled to its reasonable attorneys’ fees, costs and disbursements in addition to any other relief to which it may be entitled.

 

14. Captions.
The section and subsection headings of this Warrant are inserted for convenience only and shall not constitute a part of this Warrant
in construing or interpreting any provision hereof.

 

15. Governing
Law. This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and construed in accordance
with the laws of the State of Delaware, without regard to the conflicts of law provisions of the State of Delaware or of any other state.

 

16. Mutilated
or Missing Warrant Certificate. If this Warrant is mutilated, lost, stolen or destroyed, upon request by the Holder, the Company
will issue, in exchange for and upon cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant,
a new Warrant, in substantially the form of this Warrant, representing the right to acquire the equivalent number of Shares on the same
terms; provided, that, as a prerequisite to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss,
theft or destruction as well as an indemnity from the Holder of a lost, stolen or destroyed Warrant.

 

[remainder
of page intentionally left blank]

 

    8

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by an officer thereunto duly authorized.

 

	 	ORCHESTRA BIOMED, INC.
	 	 	 
	 	By:	     
	 	Name:	 
	 	Title:	 

 

[Signature
page to Warrant]

 

     

     

    

 

NOTICE
OF EXERCISE

 

To:
Orchestra BioMed, Inc.

150 Union Square Drive,

New Hope, PA 18938

Attention: Treasurer

 

(1) The
undersigned hereby elects to purchase ________ Shares pursuant to the terms of the attached Warrant (only if exercised in full), and
tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take
the form of (check applicable box):

 

	 	☐	in lawful money of the United States; or

 

	 	☐	pursuant to the Cashless Exercise procedure set forth in Section 3.

 

(3) Please issue a certificate
or certificates representing such Shares in the name of the undersigned or in such other name as is specified below: 

 

	 	 	 

 

Such
Shares shall be delivered by physical delivery of a certificate to:

 

	 	 	 
	 	 	 
	 	 	 

 

(4)
The undersigned hereby represents and warrants that the undersigned is acquiring such shares for its own account for investment purposes
only, and not for resale or with a view to distribution of such shares or any part thereof.

 

	 	WARRANT HOLDER:
	 	 	 
	 	By:	   
	 	Name:	 
	 	Title:	 

 

Date:__________________

 

     

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

_______________________________________________
whose address is

 

__________________________________________________________________.

 

_______________________________________________________________

 

Dated:
______________, _______

 

	 	Holder’s Signature:	 	 
	 	 	 	 
	 	Holder’s
    Address:	 	 
	 	 	 	 
	 	 	 	 

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement
or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary
or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]