Document:

iivi-ex403_560.htm

Exhibit 4.03

DESCRIPTION OF II-VI INCORPORATED’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF THE 

SECURITIES EXCHANGE ACT OF 1934 

As of August 12, 2019, II-VI Incorporated (“II-VI”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which is its common stock, no par value (“Common Stock”).

Description of Common Stock

The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Amended and Restated Articles of Incorporation (the “Articles of Incorporation”) and our Amended and Restated By-Laws (the “By-Laws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this description is a part. We encourage you to read our Articles of Incorporation, our By-Laws and the applicable provisions of the Pennsylvania Business Corporation Law (the “BCL”) for additional information. 

Authorized Capital Shares 

Our authorized capital shares consist of 300,000,000 shares of Common Stock and 5,000,000 shares of preferred stock, no par value (“Preferred Stock”). The outstanding shares of our Common Stock are fully paid and nonassessable.

Voting Rights

The holders of Common Stock are entitled to one vote per share on all matters to be voted upon by the shareholders. The holders of Common Stock are not entitled to cumulative voting of their shares in elections of directors.

Dividend Rights

Subject to preferences that may be applicable to any then outstanding Preferred Stock, the holders of Common Stock are entitled to receive ratably such dividends, if any, as may be declared from time to time by our Board of Directors out of funds legally available therefor.

Liquidation Rights

In the event of a liquidation, dissolution or winding up of II-VI, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preference of any then outstanding shares of our Preferred Stock.

Other Rights and Preferences

Holders of Common Stock have no preemptive or conversion rights or other subscription rights. Our Common Stock is not subject to any redemption or sinking fund provisions. The rights, preferences, and privileges of holders of Common Stock are subject to, and may be adversely affected by, the rights of holders of shares of any then outstanding Preferred Stock. 

Provisions in the Articles of Incorporation and the By-Laws 

The Articles of Incorporation and the By-Laws contain provisions that could make II-VI a less attractive target for a hostile takeover and could make more difficult or discourage a merger proposal, a tender offer or a proxy contest. 

Such provisions include: 

 

Exhibit 4.03

	
 
	
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a requirement that shareholder-nominated director nominees be nominated in advance of the meeting at which directors are elected and that specific information be provided in connection with such nomination; 

 

	
 
	
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the ability of II-VI’s Board of Directors to issue additional shares of Common Stock or Preferred Stock without shareholder approval; and 

 

	
 
	
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certain provisions requiring supermajority approval (at least two-thirds of the votes cast by all shareholders entitled to vote thereon, voting together as a single class). 

Listing

The Common Stock is traded on The Nasdaq Global Select Market under the trading symbol “IIVI.”Exhibit 4.1

ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS#
COMMON STOCK PAR VALUE $0.001 COMMON STOCK SPRINGWORKS THERAPEUTICS, INC. INCORPORATED UNDER THE LAWS OF THE STATE
OF DELAWARE Certificate Number ZQ00000000 Shares * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * *
* * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * *
* * * 000000* * * * * * * * * * * * * * THIS CERTIFIES THAT ** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample SEE REVERSE FOR CERTAIN DEFINITIONS
CUSIP XXXXXX XX X is the owner of **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***
*000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****
000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0
00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00
0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000
000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000
00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000
0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000
**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*
*Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**
Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S
THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com FULLY-PAID
AND NON-ASSESSABLE SHARES OF COMMON STOCK OF SpringWorks Therapeutics, Inc. (hereinafter called the “Company”),
transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly
endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of
the Certificate of Incorporation, as amended, and the By-Laws, as amended, of the Company (copies of which are on file with the
Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid
unless countersigned and registered by the Transfer Agent and Registrar. Witness the facsimile seal of the Company and
the facsimile signatures of its duly authorized officers. FACSIMILE SIGNATURE TO COME President FACSIMILE SIGNATURE TO COME Secretary
DATED DD-MMM-YYYY COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, By AUTHORIZED
SIGNATURE PO BOX 43004, Providence, RI 02940-3004 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 CUSIP/IDENTIFIER
XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678
123456789012345 Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890
1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456 Denom. 123456 Total 1234567Exhibit 10.1

 

springworks
therapeutics, inc.

 

2019 STOCK
OPTION AND incentive PLAN

 

SECTION
1. GENERAL PURPOSE OF THE PLAN; DEFINITIONS

 

The name of the plan is the SpringWorks
Therapeutics, Inc. 2019 Stock Option and Incentive Plan (the “Plan”). The purpose of the Plan is to encourage and enable
the officers, employees, directors, Consultants and other key persons of SpringWorks Therapeutics, Inc., a Delaware corporation
(including any successor entity, the “Company”), and its Subsidiaries, upon whose judgment, initiative and efforts
the Company largely depends for the successful conduct of its business, to acquire a proprietary interest in the Company.

 

The following terms shall be defined as
set forth below:

 

“Affiliate” of any Person
means a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control
with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or
indirectly the power to direct, or cause the direction of, the management and policies of the second Person, whether through the
ownership of voting securities, by contract or otherwise.

 

“Award” or “Awards,”
except where referring to a particular category of grant under the Plan, shall include Incentive Stock Options, Non-Qualified Stock
Options, Restricted Stock Awards, Unrestricted Stock Awards, Restricted Stock Units or any combination of the foregoing.

 

“Award Agreement” means
a written or electronic agreement setting forth the terms and provisions applicable to an Award granted under the Plan. Each Award
Agreement may contain terms and conditions in addition
to those set forth in the Plan; provided, however, in the event of any conflict in the terms of the Plan and the
Award Agreement, the terms of the Plan shall govern.

 

“Board” means the Board
of Directors of the Company.

 

“Cause” shall have the
meaning as set forth in the Award Agreement(s). In the case that any Award Agreement does not contain a definition of “Cause,”
it shall mean (i) the grantee’s dishonest statements or acts with respect to the Company or any Affiliate of the Company,
or any current or prospective customers, suppliers vendors or other third parties with which such entity does business; (ii) the
grantee’s commission of (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii)
the grantee’s failure to perform his assigned duties and responsibilities to the reasonable satisfaction of the Company which
failure continues, in the reasonable judgment of the Company, after written notice given to the grantee by the Company; (iv) the
grantee’s gross negligence, willful misconduct or insubordination with respect to the Company or any Affiliate of the Company;
or (v) the grantee’s material violation of any provision of any agreement(s) between the grantee and the Company relating
to noncompetition, nonsolicitation, nondisclosure and/or assignment of inventions.

 

     

     

    

 

“Code” means the Internal
Revenue Code of 1986, as amended, and any successor Code, and related rules, regulations and interpretations.

 

“Committee” means the
Committee of the Board referred to in Section 2.

 

“Consultant” means any
natural person that provides bona fide services to the Company (including a Subsidiary), and such services are not in connection
with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market
for the Company’s securities.

 

“Disability”
means “disability” as defined in Section 422(c) of the Code.

 

“Effective Date” means
the date on which the Plan is adopted as set forth on the final page of the Plan.

 

“Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.

 

“Fair Market Value” of
the Stock on any given date means the fair market value of the Stock determined in good faith by the Committee based on the reasonable
application of a reasonable valuation method not inconsistent with Section 409A of the Code. If the Stock is admitted to trade
on a national securities exchange, the determination shall be made by reference to the closing price reported on such exchange.
If there is no closing price for such date, the determination shall be made by reference to the last date preceding such date for
which there is a closing price. If the date for which Fair Market Value is determined is the first day when trading prices for
the Stock are reported on a national securities exchange, the Fair Market Value shall be the “Price to the Public”
(or equivalent) set forth on the cover page for the final prospectus relating to the Company’s Initial Public Offering.

 

“Grant Date” means the
date that the Committee designates in its approval of an Award in accordance with applicable law as the date on which the Award
is granted, which date may not precede the date of such Committee approval.

 

“Holder” means, with
respect to an Award or any Shares, the Person holding such Award or Shares, including the initial recipient of the Award or any
Permitted Transferee.

 

“Incentive Stock Option”
means any Stock Option designated and qualified as an “incentive stock option” as defined in Section 422 of the
Code.

 

“Initial Public Offering”
means the consummation of the first firm commitment underwritten public offering pursuant to an effective registration statement
under the Securities Act covering the offer and sale by the Company of its equity securities, as a result of or following which
the Stock shall be publicly held.

 

“Non-Qualified Stock Option”
means any Stock Option that is not an Incentive Stock Option.

 

    	2

     

    

 

“Option” or “Stock
Option” means any option to purchase shares of Stock granted pursuant to Section 5.

 

“Permitted Transferees”
shall mean any of the following to whom a Holder may transfer Shares hereunder (as set forth in Section 9(a)(ii)(A)): the Holder’s
child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Holder’s
household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial interest,
a foundation in which these persons control the management of assets, and any other entity in which these persons own more than
fifty percent of the voting interests; provided, however, that any such trust does not require or permit distribution
of any Shares during the term of the Award Agreement unless subject to its terms. Upon the death of the Holder, the term Permitted
Transferees shall also include such deceased Holder’s estate, executors, administrators, personal representatives, heirs,
legatees and distributees, as the case may be.

 

“Person” shall mean any
individual, corporation, partnership (limited or general), limited liability company, limited liability partnership, association,
trust, joint venture, unincorporated organization or any similar entity.

 

“Restricted Stock Award”
means Awards granted pursuant to Section 6 and “Restricted Stock” means Shares issued pursuant to such
Awards.

 

“Restricted Stock Unit”
means an Award of phantom stock units to a grantee, which may be settled in cash or Shares as determined by the Committee, pursuant
to Section 8.

 

“Sale Event” means the
consummation of (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of the assets
of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or consolidation pursuant
to which the holders of the Company’s outstanding voting power immediately prior to such transaction do not own a majority
of the outstanding voting power of the surviving or resulting entity (or its ultimate parent, if applicable), (iv) the acquisition
of all or a majority of the outstanding voting stock of the Company in a single transaction or a series of related transactions
by a Person or group of Persons, or (v) any other acquisition of the business of the Company, as determined by the Board; provided,
however, that the Company’s Initial Public Offering, any subsequent public offering or another capital raising event,
or a merger effected solely to change the Company’s domicile shall not constitute a “Sale Event.”

 

“Section 409A” means
Section 409A of the Code and the regulations and other guidance promulgated thereunder.

 

“Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations thereunder.

 

“Service Relationship”
means any relationship as a full-time employee, part-time employee, director or Consultants of the Company or any Subsidiary or
any successor entity (e.g., a Service Relationship shall be deemed to continue without interruption in the event an individual’s
status changes from full-time employee to part-time employee or Consultant).

 

    	3

     

    

 

“Shares” means shares
of Stock.

 

“Stock” means the Common
Stock, par value $ 0.0001 per share, of the Company.

 

“Subsidiary” means any
corporation or other entity (other than the Company) in which the Company has more than a 50 percent interest, either directly
or indirectly.

 

“Ten Percent Owner” means
an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10 percent
of the combined voting power of all classes of stock of the Company or any parent of the Company or any Subsidiary.

 

“Termination Event” means
the termination of the Award recipient’s Service Relationship with the Company and its Subsidiaries for any reason whatsoever,
regardless of the circumstances thereof, and including, without limitation, upon death, disability, retirement, discharge or resignation
for any reason, whether voluntarily or involuntarily. The following shall not constitute a Termination Event: (i) a transfer to
the service of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another Subsidiary
or (ii) an approved leave of absence for military service or sickness, or for any other purpose approved by the Committee, if the
individual’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which
the leave of absence was granted or if the Committee otherwise so provides in writing.

 

“Unrestricted
Stock Award” means any Award granted pursuant to Section 7 and “Unrestricted Stock” means Shares
issued pursuant to such Awards.

 

SECTION
2. ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS

 

(a)          Administration
of Plan. The Plan shall be administered by the Board, or at the discretion of the Board, by a committee of the Board, comprised
of not less than two directors. All references herein to the “Committee” shall be deemed to refer to the group then
responsible for administration of the Plan at the relevant time (i.e., either the Board of Directors or a committee or committees
of the Board, as applicable).

 

(b)          Powers
of Committee. The Committee shall have the power and authority to grant Awards consistent with the terms of the Plan, including
the power and authority:

 

(i)          to
select the individuals to whom Awards may from time to time be granted;

 

(ii)         to
determine the time or times of grant, and the amount, if any, of Incentive Stock Options, Non-Qualified Stock Options, Restricted
Stock Awards, Unrestricted Stock Awards, Restricted Stock Units, or any combination of the foregoing, granted to any one or more
grantees;

 

(iii)        to
determine the number of Shares to be covered by any Award and, subject to the provisions of the Plan, the price, exercise price,
conversion ratio or other price relating thereto;

 

    	4

     

    

 

(iv)        to
determine and, subject to Section 12, to modify from time to time the terms and conditions, including restrictions, not inconsistent
with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and grantees, and to approve
the form of Award Agreements;

 

(v)         to
accelerate at any time the exercisability or vesting of all or any portion of any Award;

 

(vi)        to
impose any limitations on Awards, including limitations on transfers, repurchase provisions and the like, and to exercise repurchase
rights or obligations;

 

(vii)       subject
to Section 5(a)(ii) and any restrictions imposed by Section 409A, to extend at any time the period in which Stock Options may be
exercised; and

 

(viii)      at
any time to adopt, alter and repeal such rules, guidelines and practices for administration of the Plan and for its own acts and
proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including Award Agreements);
to make all determinations it deems advisable for the administration of the Plan; to decide all disputes arising in connection
with the Plan; and to otherwise supervise the administration of the Plan.

 

All decisions and interpretations of the Committee
shall be binding on all persons, including the Company and all Holders.

 

(c)          Delegation
of Authority to Grant Awards. Subject to applicable law, the Committee, in its discretion, may delegate to any one or more
members of the Board all or part of the Committee’s authority and duties with respect to the granting of Awards and may delegate
to an officer of the Company the power to designate non-officer employees to be recipients of Options, and to determine the number
of such Options to be received by such employees; provided, however, that the resolution so authorizing the officer shall specify
the total number of Options the officer may so award and may not delegate to the officer the authority to set the exercise price
or the vesting terms of such Options. Any such delegation by the Committee shall also provide that the officer may not grant Awards
to himself or herself (or other officers) without the approval of the Committee. The Committee may revoke or amend the terms of
a delegation at any time but such action shall not invalidate any prior actions of the Committee’s delegate or delegates
that were consistent with the terms of the Plan.

 

(d)          Award
Agreement. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations
for each Award.

 

(e)          Indemnification.
Neither the Board nor the Committee, nor any member of either or any delegate thereof, shall be liable for any act, omission, interpretation,
construction or determination made in good faith in connection with the Plan, and the members of the Board and the Committee (and
any delegate thereof) shall be entitled in all cases to indemnification and reimbursement by the Company in respect of any claim,
loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the
fullest extent permitted by law and/or under the Company’s governing documents, including its certificate of incorporation
or bylaws, or any directors’ and officers’ liability insurance coverage which may be in effect from time to time and/or
any indemnification agreement between such individual and the Company.

 

    	5

     

    

 

(f)          Foreign
Award Recipients. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in other countries
in which the Company and any Subsidiary operate or have employees or other individuals eligible for Awards, the Committee, in its
sole discretion, shall have the power and authority to: (i) determine which Subsidiaries, if any, shall be covered by the Plan;
(ii) determine which individuals, if any, outside the United States are eligible to participate in the Plan; (iii) modify the terms
and conditions of any Award granted to individuals outside the United States to comply with applicable foreign laws; (iv) establish
subplans and modify exercise procedures and other terms and procedures, to the extent the Committee determines such actions to
be necessary or advisable (and such subplans and/or modifications shall be attached to the Plan as appendices); provided,
however, that no such subplans and/or modifications shall increase the share limitation contained in Section 3(a) hereof;
and (v) take any action, before or after an Award is made, that the Committee determines to be necessary or advisable to obtain
approval or comply with any local governmental regulatory exemptions or approvals.

 

SECTION
3. STOCK ISSUABLE UNDER THE PLAN; MERGERS AND OTHER TRANSACTIONS; SUBSTITUTION

 

Stock Issuable.

 

(a)          The
maximum number of Shares reserved and available for issuance under the Plan shall be 34,828,990 Shares, subject to adjustment as
provided in Section 3(b) (the “Pool Limit”). Subject to such overall limitations, Shares may be issued up to such
maximum number pursuant to any type or types of Award, and no more than the Pool Limit may be issued pursuant to Incentive Stock
Options. The Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company.
Beginning on the date that the Company becomes subject to Section 162(m) of the Code, Options with respect to no more than 10,000,000
Shares shall be granted to any one individual in any calendar year period. For purposes of the Pool Limit Shares underlying any
awards under the Plan that are forfeited, canceled, held back upon exercise of an Option or settlement of an Award to cover the
exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or otherwise
terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan and, to the
extent permitted under Section 422 of the Code and the regulations promulgated thereunder, the shares of Stock that may be
issued as Incentive Stock Options.

 

(b)          Changes
in Stock. Subject to Section 3(c) hereof, if, as a result of any reorganization, recapitalization, reclassification, stock
dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding Shares
are increased or decreased or are exchanged for a different number or kind of shares or other securities of the Company, or additional
Shares or new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such
Shares or other securities, in each case, without the receipt of consideration by the Company, or, if, as a result of any merger
or consolidation, or sale of all or substantially all of the assets of the Company, the outstanding Shares are converted into or
exchanged for other securities of the Company or any successor entity (or a parent or subsidiary thereof), the Committee shall
make an appropriate and proportionate adjustment in (i) the maximum number of Shares reserved for issuance under the Plan, (ii)
the number and kind of Shares or other securities subject to any then outstanding Awards under the Plan, (iii) the repurchase price,
if any, per Share subject to each outstanding Award, and (iv) the exercise price for each Share subject to any then outstanding
Stock Options under the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number
of Stock Options) as to which such Stock Options remain exercisable. The Committee shall in any event make such adjustments as
may be required by Section 25102(o) of the California Corporation Code and the rules and regulations promulgated thereunder. The
adjustment by the Committee shall be final, binding and conclusive. No fractional Shares shall be issued under the Plan resulting
from any such adjustment, but the Committee in its discretion may make a cash payment in lieu of fractional shares.

 

    	6

     

    

 

(c)          Sale
Events.

 

(i)          Options.
Subject to, in each case, the preferential rights of the holders of the Company’s Preferred Stock pursuant to the Company’s
restated certificate of incorporation.

 

(A)         In
the case of and subject to the consummation of a Sale Event, the Plan and all outstanding Options issued hereunder shall terminate
upon the effective time of any such Sale Event unless assumed or continued by the successor entity, or new stock options or other
awards of the successor entity or parent thereof are substituted therefor, with an equitable or proportionate adjustment as to
the number and kind of shares and, if appropriate, the per share exercise prices, as such parties shall agree (after taking into
account any acceleration hereunder and/or pursuant to the terms of any Award Agreement).

 

(B)         In
the event of the termination of the Plan and all outstanding Options issued hereunder pursuant to Section 3(c), each Holder of
Options shall be permitted, within a period of time prior to the consummation of the Sale Event as specified by the Committee,
to exercise all such Options which are then exercisable or will become exercisable as of the effective time of the Sale Event;
provided, however, that the exercise of Options not exercisable prior to the Sale Event shall be subject to the consummation
of the Sale Event.

 

(C)         Notwithstanding
anything to the contrary in Section 3(c)(i)(A), in the event of a Sale Event, the Company shall have the right, but not the
obligation, to make or provide for a cash payment to the Holders of Options, without any consent of the Holders, in exchange for
the cancellation thereof, in an amount equal to the difference between (A) the value as determined by the Committee of the consideration
payable per share of Stock pursuant to the Sale Event (the “Sale Price”) times the number of Shares subject to outstanding
Options being cancelled (to the extent then vested and exercisable, including by reason of acceleration in connection with such
Sale Event, at prices not in excess of the Sale Price) and (B) the aggregate exercise price of all such outstanding vested and
exercisable Options.

 

    	7

     

    

 

(ii)         Restricted
Stock and Restricted Stock Unit Awards. Subject to, in each case, the preferential rights of the holders of the Company’s
Preferred Stock pursuant to the Company’s restated certificate of incorporation.

 

(A)         In
the case of and subject to the consummation of a Sale Event, all unvested Restricted Stock and unvested Restricted Stock Unit Awards
(other than those becoming vested as a result of the Sale Event) issued hereunder shall be forfeited immediately prior to the effective
time of any such Sale Event unless assumed or continued by the successor entity, or awards of the successor entity or parent thereof
are substituted therefor, with an equitable or proportionate adjustment as to the number and kind of shares subject to such awards
as such parties shall agree (after taking into account any acceleration hereunder and/or pursuant to the terms of any Award Agreement).

 

(B)         In
the event of the forfeiture of Restricted Stock pursuant to Section 3(c)(ii)(A), such Restricted Stock shall be repurchased from
the Holder thereof at a price per share equal to the original per share purchase price paid by the Holder (subject to adjustment
as provided in Section 3(b)) for such Shares.

 

(C)         Notwithstanding
anything to the contrary in Section 3(c)(ii)(A), in the event of a Sale Event, the Company shall have the right, but not the
obligation, to make or provide for a cash payment to the Holders of Restricted Stock or Restricted Stock Unit Awards, without consent
of the Holders, in exchange for the cancellation thereof, in an amount equal to the Sale Price times the number of Shares subject
to such Awards, to be paid at the time of such Sale Event or upon the later vesting of such Awards.

 

SECTION
4. ELIGIBILITY

 

Grantees under the Plan will be such full
or part-time officers and other employees, directors and Consultants of the Company and any Subsidiary who are selected from time
to time by the Committee in its sole discretion; provided, however, that Awards shall be granted only to those individuals
described in Rule 701(c) of the Securities Act.

 

SECTION
5. STOCK OPTIONS

 

Upon the grant of a Stock Option, the Company
and the grantee shall enter into an Award Agreement. The terms and conditions of each such Award Agreement shall be determined
by the Committee, and such terms and conditions may differ among individual Awards and grantees.

 

Stock Options granted under the Plan may
be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options may be granted only to employees of the
Company or any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code.
To the extent that any Option does not qualify as an Incentive Stock Option, it shall be deemed a Non-Qualified Stock Option.

 

(a)          Terms
of Stock Options. The Committee in its discretion may grant Stock Options to those individuals who meet the eligibility requirements
of Section 4. Stock Options shall be subject to the following terms and conditions and shall contain such additional terms and
conditions, not inconsistent with the terms of the Plan, as the Committee shall deem desirable.

 

    	8

     

    

 

(i)          Exercise
Price. The exercise price per share for the Shares covered by a Stock Option shall be determined by the Committee at the time
of grant but shall not be less than 100 percent of the Fair Market Value on the Grant Date. In the case of an Incentive Stock Option
that is granted to a Ten Percent Owner, the exercise price per share for the Shares covered by such Incentive Stock Option shall
not be less than 110 percent of the Fair Market Value on the Grant Date.

 

(ii)         Option
Term. The term of each Stock Option shall be fixed by the Committee, but no Stock Option shall be exercisable more than ten
years from the Grant Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the term of such Stock
Option shall be no more than five years from the Grant Date.

 

(iii)        Exercisability;
Rights of a Stockholder. Stock Options shall become exercisable and/or vested at such time or times, whether or not in installments,
as shall be determined by the Committee at or after the Grant Date. The Award Agreement may permit a grantee to exercise all or
a portion of a Stock Option immediately at grant; provided that the Shares issued upon such exercise shall be subject to
restrictions and a vesting schedule identical to the vesting schedule of the related Stock Option, such Shares shall be deemed
to be Restricted Stock for purposes of the Plan, and the optionee may be required to enter into an additional or new Award Agreement
as a condition to exercise of such Stock Option. An optionee shall have the rights of a stockholder only as to Shares acquired
upon the exercise of a Stock Option and not as to unexercised Stock Options. An optionee shall not be deemed to have acquired any
Shares unless and until a Stock Option shall have been exercised pursuant to the terms of the Award Agreement and this Plan and
the optionee’s name has been entered on the books of the Company as a stockholder.

 

(iv)        Method
of Exercise. Stock Options may be exercised by an optionee in whole or in part, by the optionee giving written or electronic
notice of exercise to the Company, specifying the number of Shares to be purchased. Payment of the purchase price may be made by
one or more of the following methods (or any combination thereof) to the extent provided in the Award Agreement:

 

(A)         In
cash, by certified or bank check, by wire transfer of immediately available funds, or other instrument acceptable to the Committee;

 

(B)         If
permitted by the Committee, by the optionee delivering to the Company a promissory note, if the Board has expressly authorized
the loan of funds to the optionee for the purpose of enabling or assisting the optionee to effect the exercise of his or her Stock
Option; provided, that at least so much of the exercise price as represents the par value of the Stock shall be paid in
cash if required by state law;

 

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(C)         If
permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), through
the delivery (or attestation to the ownership) of Shares that have been purchased by the optionee on the open market or that are
beneficially owned by the optionee and are not then subject to restrictions under any Company plan. To the extent required to avoid
variable accounting treatment under ASC 718 or other applicable accounting rules, such surrendered Shares if originally purchased
from the Company shall have been owned by the optionee for at least six months. Such surrendered Shares shall be valued at Fair
Market Value on the exercise date;

 

(D)         If
permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), by the
optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly
deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided that in the
event the optionee chooses to pay the purchase price as so provided, the optionee and the broker shall comply with such procedures
and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition of such payment
procedure; or

 

(E)         If
permitted by the Committee, and only with respect to Stock Options that are not Incentive Stock Options, by a “net exercise”
arrangement pursuant to which the Company will reduce the number of Shares issuable upon exercise by the largest whole number of
Shares with a Fair Market Value that does not exceed the aggregate exercise price.

 

Payment instruments will be received subject
to collection. No certificates for Shares so purchased will be issued to the optionee or, with respect to uncertificated Stock,
no transfer to the optionee on the records of the Company will take place, until the Company has completed all steps it has deemed
necessary to satisfy legal requirements relating to the issuance and sale of the Shares, which steps may include, without limitation,
(i) receipt of a representation from the optionee at the time of exercise of the Option that the optionee is purchasing the Shares
for the optionee’s own account and not with a view to any sale or distribution of the Shares or other representations relating
to compliance with applicable law governing the issuance of securities, (ii) the legending of the certificate (or notation on any
book entry) representing the Shares to evidence the foregoing restrictions, and (iii) obtaining from optionee payment or provision
for all withholding taxes due as a result of the exercise of the Option. The delivery of certificates representing the shares of
Stock (or the transfer to the optionee on the records of the Company with respect to uncertificated Stock) to be purchased pursuant
to the exercise of a Stock Option will be contingent upon (A) receipt from the optionee (or a purchaser acting in his or her stead
in accordance with the provisions of the Stock Option) by the Company of the full purchase price for such Shares and the fulfillment
of any other requirements contained in the Award Agreement or applicable provisions of laws and (B) if required by the Company,
the optionee shall have entered into any stockholders agreements or other agreements with the Company and/or certain other of the
Company’s stockholders relating to the Stock. In the event an optionee chooses to pay the purchase price by previously-owned
Shares through the attestation method, the number of Shares transferred to the optionee upon the exercise of the Stock Option shall
be net of the number of Shares attested to.

 

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(b)          Annual
Limit on Incentive Stock Options. To the extent required for “incentive stock option” treatment under Section 422
of the Code, the aggregate Fair Market Value (determined as of the Grant Date) of the Shares with respect to which Incentive Stock
Options granted under the Plan and any other plan of the Company or its parent and any Subsidiary that become exercisable for the
first time by an optionee during any calendar year shall not exceed $100,000 or such other limit as may be in effect from time
to time under Section 422 of the Code. To the extent that any Stock Option exceeds this limit, it shall constitute a Non-Qualified
Stock Option.

 

(c)          Termination.
Any portion of a Stock Option that is not vested and exercisable on the date of termination of an optionee’s Service Relationship
shall immediately expire and be null and void. Once any portion of the Stock Option becomes vested and exercisable, the optionee’s
right to exercise such portion of the Stock Option (or the optionee’s representatives and legatees as applicable) in the
event of a termination of the optionee’s Service Relationship shall continue until the earliest of: (i) the date which is:
(A) 12 months following the date on which the optionee’s Service Relationship terminates due to death or Disability (or such
longer period of time as determined by the Committee and set forth in the applicable Award Agreement), or (B) three months following
the date on which the optionee’s Service Relationship terminates if the termination is due to any reason other than death
or Disability (or such longer period of time as determined by the Committee and set forth in the applicable Award Agreement), or
(ii) the Expiration Date set forth in the Award Agreement; provided that notwithstanding the foregoing, an Award Agreement may
provide that if the optionee’s Service Relationship is terminated for Cause, the Stock Option shall terminate immediately
and be null and void upon the date of the optionee’s termination and shall not thereafter be exercisable.

 

SECTION
6. RESTRICTED STOCK AWARDS

 

(a)          Nature
of Restricted Stock Awards. The Committee may, in its sole discretion, grant (or sell at par value or such other purchase price
determined by the Committee) to an eligible individual under Section 4 hereof a Restricted Stock Award under the Plan. The Committee
shall determine the restrictions and conditions applicable to each Restricted Stock Award at the time of grant. Conditions may
be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals and objectives
and/or such other criteria as the Committee may determine. Upon the grant of a Restricted Stock Award, the Company and the grantee
shall enter into an Award Agreement. The terms and conditions of each such Award Agreement shall be determined by the Committee,
and such terms and conditions may differ among individual Awards and grantees.

 

(b)          Rights
as a Stockholder. Upon the grant of the Restricted Stock Award and payment of any applicable purchase price, a grantee of Restricted
Stock shall be considered the record owner of and shall be entitled to vote the Restricted Stock if, and to the extent, such Shares
are entitled to voting rights, subject to such conditions contained in the Award Agreement. The grantee shall be entitled to receive
all dividends and any other distributions declared on the Shares; provided, however, that the Company is under no
duty to declare any such dividends or to make any such distribution. Unless the Committee shall otherwise determine, certificates
evidencing the Restricted Stock shall remain in the possession of the Company until such Restricted Stock is vested as provided
in subsection (d) below of this Section, and the grantee shall be required, as a condition of the grant, to deliver to the
Company a stock power endorsed in blank and such other instruments of transfer as the Committee may prescribe.

 

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(c)          Restrictions.
Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as specifically
provided herein or in the Award Agreement. Except as may otherwise be provided by the Committee either in the Award Agreement or,
subject to Section 12 below, in writing after the Award Agreement is issued, if a grantee’s Service Relationship with the
Company and any Subsidiary terminates, the Company or its assigns shall have the right, as may be specified in the relevant instrument,
to repurchase some or all of the Shares subject to the Award at such purchase price as is set forth in the Award Agreement.

 

(d)          Vesting
of Restricted Stock. The Committee at the time of grant shall specify in the Award Agreement the date or dates and/or the attainment
of pre-established performance goals, objectives and other conditions on which the substantial risk of forfeiture imposed shall
lapse and the Restricted Stock shall become vested, subject to such further rights of the Company or its assigns as may be specified
in the Award Agreement.

 

SECTION
7. UNRESTRICTED STOCK AWARDS

 

The Committee may, in its sole discretion,
grant (or sell at par value or such other purchase price determined by the Committee) to an eligible person under Section 4 hereof
an Unrestricted Stock Award under the Plan. Unrestricted Stock Awards may be granted in respect of past services or other valid
consideration, or in lieu of cash compensation due to such grantee.

 

SECTION
8. RESTRICTED STOCK UNITS

 

(a)          Nature
of Restricted Stock Units. The Committee may, in its sole discretion, grant to an eligible person under Section 4 hereof Restricted
Stock Units under the Plan. The Committee shall determine the restrictions and conditions applicable to each Restricted Stock Unit
at the time of grant. Vesting conditions may be based on continuing employment (or other Service Relationship), achievement of
pre-established performance goals and objectives and/or other such criteria as the Committee may determine. Upon the grant of Restricted
Stock Units, the grantee and the Company shall enter into an Award Agreement. The terms and conditions of each such Award Agreement
shall be determined by the Committee and may differ among individual Awards and grantees. On or promptly following the vesting
date or dates applicable to any Restricted Stock Unit, but in no event later than March 15 of the year following the year
in which such vesting occurs, such Restricted Stock Unit(s) shall be settled in the form of cash or shares of Stock, as specified
in the Award agreement. Restricted Stock Units may not be sold, assigned, transferred,
pledged, or otherwise encumbered or disposed of.

 

(b)          Rights
as a Stockholder. A grantee shall have the rights of a stockholder only as to Shares, if any, acquired upon settlement of Restricted
Stock Units. A grantee shall not be deemed to have acquired any such Shares unless and until the Restricted Stock Units shall have
been settled in Shares pursuant to the terms of the Plan and the Award Agreement, the Company shall have issued and delivered a
certificate representing the Shares to the grantee (or transferred on the records of the Company with respect to uncertificated
stock), and the grantee’s name has been entered in the books of the Company as a stockholder.

 

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(c)          Termination.
Except as may otherwise be provided by the Committee either in the Award Agreement or in writing after the Award Agreement is issued,
a grantee’s right in all Restricted Stock Units that have not vested shall automatically terminate upon the grantee’s
cessation of Service Relationship with the Company and any Subsidiary for any reason.

 

SECTION
9. transfer restrictions; company RIGHT OF FIRST REFUSAL; COMPANY repurchase rights

 

(a)          Restrictions
on Transfer.

 

(i)          Non-Transferability
of Stock Options. Stock Options and, prior to exercise, the Shares issuable upon exercise of such Stock Option, shall not be
transferable by the optionee otherwise than by will, or by the laws of descent and distribution, and all Stock Options shall be
exercisable, during the optionee’s lifetime, only by the optionee, or by the optionee’s legal representative or guardian
in the event of the optionee’s incapacity. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide
in the Award Agreement regarding a given Stock Option that the optionee may transfer by gift, without consideration for the transfer,
his or her Non-Qualified Stock Options to his or her family members (as defined in Rule 701 of the Securities Act), to trusts for
the benefit of such family members, or to partnerships in which such family members are the only partners (to the extent such trusts
or partnerships are considered “family members” for purposes of Rule 701 of the Securities Act), provided that the
transferee agrees in writing with the Company to be bound by all of the terms and conditions of this Plan and the applicable Award
Agreement, including the execution of a stock power upon the issuance of Shares. Stock Options, and the Shares issuable upon exercise
of such Stock Options, shall be restricted as to any pledge, hypothecation, or other transfer, including any short position, any
“put equivalent position” (as defined in the Exchange Act) or any “call equivalent position” (as defined
in the Exchange Act) prior to exercise.

 

(ii)         Shares.
No Shares shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other manner disposed of or encumbered,
whether voluntarily or by operation of law, unless (i) the transfer is in compliance with the terms of the applicable Award Agreement,
all applicable securities laws (including, without limitation, the Securities Act), and with the terms and conditions of this Section
9, (ii) the transfer does not cause the Company to become subject to the reporting requirements of the Exchange Act, and (iii)
the transferee consents in writing to be bound by the provisions of the Plan and the Award Agreement, including this Section 9.
In connection with any proposed transfer, the Committee may require the transferor to provide at the transferor’s own expense
an opinion of counsel to the transferor, satisfactory to the Committee, that such transfer is in compliance with all foreign, federal
and state securities laws (including, without limitation, the Securities Act). Any attempted transfer of Shares not in accordance
with the terms and conditions of this Section 9 shall be null and void, and the Company shall not reflect on its records any change
in record ownership of any Shares as a result of any such transfer, shall otherwise refuse to recognize any such transfer and shall
not in any way give effect to any such transfer of Shares. The Company shall be entitled to seek protective orders, injunctive
relief and other remedies available at law or in equity including, without limitation, seeking specific performance or the rescission
of any transfer not made in strict compliance with the provisions of this Section 9. Subject to the foregoing general provisions,
and unless otherwise provided in the applicable Award Agreement, Shares may be transferred pursuant to the following specific terms
and conditions (provided that with respect to any transfer of Restricted Stock, all vesting and forfeiture provisions shall continue
to apply with respect to the original recipient):

 

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(A)         Transfers
to Permitted Transferees. The Holder may transfer any or all of the Shares to one or more Permitted Transferees; provided,
however, that following such transfer, such Shares shall continue to be subject to the terms of this Plan (including this
Section 9) and such Permitted Transferee(s) shall, as a condition to any such transfer, deliver a written acknowledgment to that
effect to the Company and shall deliver a stock power to the Company with respect to the Shares. Notwithstanding the foregoing,
the Holder may not transfer any of the Shares to a Person whom the Company reasonably determines is a direct competitor or a potential
competitor of the Company or any of its Subsidiaries.

 

(B)         Transfers
Upon Death. Upon the death of the Holder, any Shares then held by the Holder at the time of such death and any Shares acquired
after the Holder’s death by the Holder’s legal representative shall be subject to the provisions of this Plan, and
the Holder’s estate, executors, administrators, personal representatives, heirs, legatees and distributees shall be obligated
to convey such Shares to the Company or its assigns under the terms contemplated by the Plan and the Award Agreement.

 

(b)          Right
of First Refusal. In the event that a Holder desires at any time to sell or otherwise transfer all or any part of his or her
Shares (other than shares of Restricted Stock which by their terms are not transferrable), the Holder first shall give written
notice to the Company of the Holder’s intention to make such transfer. Such notice shall state the number of Shares that
the Holder proposes to sell (the “Offered Shares”), the price and the terms at which the proposed sale is to be made
and the name and address of the proposed transferee. At any time within 30 days after the receipt of such notice by the Company,
the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered
by the proposed transferee and specified in the notice. The Company or its assigns shall exercise this right by mailing or delivering
written notice to the Holder within the foregoing 30-day period. If the Company or its assigns elect to exercise its purchase rights
under this Section 9(b), the closing for such purchase shall, in any event, take place within 45 days after the receipt by the
Company of the initial notice from the Holder. In the event that the Company or its assigns do not elect to exercise such purchase
right, or in the event that the Company or its assigns do not pay the full purchase price within such 45-day period, the Holder
shall be required to pay a transaction processing fee of $10,000 to the Company (unless waived by the Committee) and then may,
within 60 days thereafter, sell the Offered Shares to the proposed transferee and at the same price and on the same terms as specified
in the Holder’s notice. Any Shares not sold to the proposed transferee shall remain subject to the Plan. If the Holder is
a party to any stockholders agreements or other agreements with the Company and/or certain other of the Company’s stockholders
relating to the Shares, (i) the transferring Holder shall comply with the requirements of such stockholders agreements or other
agreements relating to any proposed transfer of the Offered Shares, and (ii) any proposed transferee that purchases Offered Shares
shall enter into such stockholders agreements or other agreements with the Company and/or certain of the Company’s stockholders
relating to the Offered Shares on the same terms and in the same capacity as the transferring Holder.

 

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(c)          Company’s
Right of Repurchase.

 

(i)          Right
of Repurchase for Shares Issued Upon the Exercise of an Option. Upon a Termination Event, the Company or its assigns shall
have the right and option to repurchase from a Holder of Shares acquired upon exercise of a Stock Option. Such repurchase rights
may be exercised by the Company within the later of (A) six months following the date of such Termination Event or (B) seven months
after the acquisition of Shares upon exercise of a Stock Option. The repurchase price for unvested Shares shall be equal to the
lower of the original per share price paid by the Holder, subject to adjustment as provided in Section 3(b) of the Plan, or the
current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights. The repurchase price
for vested Shares shall be equal to (X) if the Holder’s Service Relationship is terminated for Cause, the lower of the original
per share price paid by the Holder, subject to adjustment as provided in Section 3(b) of the Plan, or the current Fair Market Value
of such Shares as of the date the Company elects to exercise its repurchase rights, or (Y) in the case of any other Termination
Event, the current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights.

 

(ii)         Right
of Repurchase With Respect to Shares Granted as Restricted Stock Awards. Upon a Termination Event, the Company or its assigns
shall have the right and option to repurchase from a Holder of Shares received pursuant to a Restricted Stock Award any Shares.
Such repurchase right may be exercised by the Company within six months following the date of such Termination Event. The repurchase
price for unvested Shares shall be the lower of the original per share purchase price paid by the Holder, subject to adjustment
as provided in Section 3(b) of the Plan, or the current Fair Market Value of such Shares as of the date the Company elects to exercise
its repurchase rights. The repurchase price for vested Shares shall be equal to (X) if the Holder’s Service Relationship
is terminated for Cause, the lower of the original per share price paid by the Holder, subject to adjustment as provided in Section
3(b) of the Plan, or the current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase
rights, or (Y) in the case of any other Termination Event, the current Fair Market Value of such Shares as of the date the Company
elects to exercise its repurchase rights.

 

(iii)        Procedure.
Any repurchase right of the Company shall be exercised by the Company or its assigns by giving the Holder written notice on or
before the last day of the repurchase period of its intention to exercise such repurchase right. Upon such notification, the Holder
shall promptly surrender to the Company, free and clear of any liens or encumbrances, any certificates representing the Shares
being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s
assignee or assignees. Upon the Company’s or its assignee’s receipt of the certificates from the Holder, the Company
or its assignee or assignees shall deliver to him, her or them a check for the applicable repurchase price; provided, however,
that the Company may pay the repurchase price by offsetting and canceling any indebtedness then owed by the Holder to the Company.

 

(d)          Reserved.

 

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(e)          Escrow
Arrangement.

 

(i)          Escrow.
In order to carry out the provisions of this Section 9 of this Plan more effectively, the Company shall hold any Shares issued
pursuant to Awards granted under the Plan in escrow together with separate stock powers executed by the Holder in blank for transfer.
The Company shall not dispose of the Shares except as otherwise provided in this Plan. In the event of any repurchase by the Company
(or any of its assigns), the Company is hereby authorized by the Holder, as the Holder’s attorney-in-fact, to date and complete
the stock powers necessary for the transfer of the Shares being purchased and to transfer such Shares in accordance with the terms
hereof. At such time as any Shares are no longer subject to the Company’s repurchase and first refusal rights, the Company
shall, at the written request of the Holder, deliver to the Holder a certificate representing such Shares with the balance of the
Shares to be held in escrow pursuant to this Section.

 

(ii)         Remedy.
Without limitation of any other provision of this Plan or other rights, in the event that a Holder or any other Person is required
to sell a Holder’s Shares pursuant to the provisions of Sections 9(b) or (c) hereof and in the further event that he or she
refuses or for any reason fails to deliver to the Company or its designated purchaser of such Shares the certificate or certificates
evidencing such Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable
purchase price for such Shares with a bank designated by the Company, or with the Company’s independent public accounting
firm, as agent or trustee, or in escrow, for such Holder or other Person, to be held by such bank or accounting firm for the benefit
of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness
then owed by such Holder as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such
amount and upon notice to the Person who was required to sell the Shares to be sold pursuant to the provisions of Sections 9(b)
or (c), such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, such
Holder shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable),
and the Company shall record such transfer in its stock transfer book or in any appropriate manner.

 

(f)          Lockup
Provision. If requested by the Company, a Holder shall not sell or otherwise transfer or dispose of any Shares (including,
without limitation, pursuant to Rule 144 under the Securities Act) held by him or her for such period following the effective date
of a public offering by the Company of Shares as the Company shall specify reasonably and in good faith. If requested by the underwriter
engaged by the Company, each Holder shall execute a separate letter confirming his or her agreement to comply with this Section.

 

(g)          Adjustments
for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reclassification, stock dividend,
stock split, reverse stock split or other similar change in the Common Stock, the outstanding Shares are increased or decreased
or are exchanged for a different number or kind of securities of the Company, the restrictions contained in this Section 9
shall apply with equal force to additional and/or substitute securities, if any, received by Holder in exchange for, or by virtue
of his or her ownership of, Shares.

 

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(h)          Termination.
The terms and provisions of Section 9(b) and Section 9(c) (except for the Company’s right to repurchase Shares still subject
to a risk of forfeiture upon a Termination Event) shall terminate upon the closing of the Company’s Initial Public Offering
or upon consummation of any Sale Event, in either case as a result of which Shares are registered under Section 12 of the
Exchange Act and publicly-traded on any national security exchange.

 

SECTION
10. TAX WITHHOLDING

 

(a)          Payment
by Grantee. Each grantee shall, no later than the date as of which the value of an Award or of any Shares or other amounts
received thereunder first becomes includable in the gross income of the grantee for income tax purposes, pay to the Company, or
make arrangements satisfactory to the Committee regarding payment of, any Federal, state, or local taxes of any kind required by
law to be withheld by the Company with respect to such income. The Company and any Subsidiary shall, to the extent permitted by
law, have the right to deduct any such taxes from any payment of any kind otherwise due to the grantee. The Company’s obligation
to deliver stock certificates (or evidence of book entry) to any grantee is subject to and conditioned on any such tax withholding
obligations being satisfied by the grantee.

 

(b)          Payment
in Stock. The Company’s minimum required tax withholding obligation may be satisfied, in whole or in part, by the Company
withholding from Shares to be issued pursuant to an Award a number of Shares having an aggregate Fair Market Value (as of the date
the withholding is effected) that would satisfy the minimum withholding amount due.

 

SECTION
11. Section 409A AWARDS.

 

To the extent that any Award is determined
to constitute “nonqualified deferred compensation” within the meaning of Section 409A (a “409A Award”),
the Award shall be subject to such additional rules and requirements as may be specified by the Committee from time to time. In
this regard, if any amount under a 409A Award is payable upon a “separation from service” (within the meaning of Section
409A) to a grantee who is considered a “specified employee” (within the meaning of Section 409A), then no such payment
shall be made prior to the date that is the earlier of (i) six months and one day after the grantee’s separation from service,
or (ii) the grantee’s death, but only to the extent such delay is necessary to prevent such payment from being subject to
interest, penalties and/or additional tax imposed pursuant to Section 409A. The Company makes no representation or warranty and
shall have no liability to any grantee under the Plan or any other Person with respect to any penalties or taxes under Section
409A that are, or may be, imposed with respect to any Award.

 

SECTION
12. AMENDMENTS AND TERMINATION

 

The Board may, at any time, amend or discontinue
the Plan and the Committee may, at any time, amend or cancel any outstanding Award for the purpose of satisfying changes in law
or for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Award without the consent
of the holder of the Award. The Committee may exercise its discretion to reduce the exercise price of outstanding Stock Options
or effect repricing through cancellation of outstanding Stock Options and by granting such holders new Awards in replacement of
the cancelled Stock Options. To the extent determined by the Committee to be required either by the Code to ensure that Incentive
Stock Options granted under the Plan are qualified under Section 422 of the Code or otherwise, Plan amendments shall be subject
to approval by the Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 12 shall limit
the Board’s or Committee’s authority to take any action permitted pursuant to Section 3(c). The Board reserves
the right to amend the Plan and/or the terms of any outstanding Stock Options to the extent reasonably necessary to comply with
the requirements of the exemption pursuant to paragraph (f)(4) of Rule 12h-1 of the Exchange Act.

 

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SECTION
13. STATUS OF PLAN

 

With respect to the portion of any Award
that has not been exercised and any payments in cash, Stock or other consideration not received by a grantee, a grantee shall have
no rights greater than those of a general creditor of the Company unless the Committee shall otherwise expressly so determine in
connection with any Award.

 

SECTION
14. GENERAL PROVISIONS

 

(a)          No
Distribution; Compliance with Legal Requirements. The Committee may require each person acquiring Shares pursuant to an Award
to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to distribution thereof.
No Shares shall be issued pursuant to an Award until all applicable securities law and other legal and stock exchange or similar
requirements have been satisfied. The Committee may require the placing of such stop-orders and restrictive legends on certificates
for Stock and Awards as it deems appropriate.

 

(b)          Delivery
of Stock Certificates. Stock certificates to grantees under the Plan shall be deemed delivered for all purposes when the Company
or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the grantee,
at the grantee’s last known address on file with the Company; provided that stock certificates to be held in escrow pursuant
to Section 9 of the Plan shall be deemed delivered when the Company shall have recorded the issuance in its records. Uncertificated
Stock shall be deemed delivered for all purposes when the Company or a stock transfer agent of the Company shall have given to
the grantee by electronic mail (with proof of receipt) or by United States mail, addressed to the grantee, at the grantee’s
last known address on file with the Company, notice of issuance and recorded the issuance in its records (which may include electronic
“book entry” records).

 

(c)          No
Employment Rights. The adoption of the Plan and the grant of Awards do not confer upon any Person any right to continued
employment or Service Relationship with the Company or any Subsidiary.

 

(d)          Trading
Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to the Company’s insider trading
policy-related restrictions, terms and conditions as may be established by the Committee, or in accordance with policies set by
the Committee, from time to time.

 

    	18

     

    

 

(e)          Legend.
Any certificate(s) representing the Shares shall carry substantially the following legend (and with respect to uncertificated Stock,
the book entries evidencing such shares shall contain the following notation):

 

The transferability of this certificate and the shares
of stock represented hereby are subject to the restrictions, terms and conditions (including repurchase and restrictions against
transfers) contained in the SpringWorks Therapeutics, Inc. 2019 Stock Option and Incentive Plan and any agreements entered into
thereunder by and between the company and the holder of this certificate (a copy of which is available at the offices of the company
for examination).

 

(f)          Information
to Holders of Options. In the event the Company is relying on the exemption from the registration requirements of Section 12(g)
of the Exchange Act contained in paragraph (f)(1) of Rule 12h-1 of the Exchange Act, the Company shall provide the information
described in Rule 701(e)(3), (4) and (5) of the Securities Act to all holders of Options in accordance with the requirements thereunder.
The foregoing notwithstanding, the Company shall not be required to provide such information unless the optionholder has agreed
in writing, on a form prescribed by the Company, to keep such information confidential.

 

SECTION
15. EFFECTIVE DATE OF PLAN

 

The Plan shall become effective upon adoption
by the Board and shall be approved by stockholders in accordance with applicable state law and the Company’s articles of
incorporation and bylaws within 12 months thereafter. If the stockholders fail to approve the Plan within 12 months after its adoption
by the Board of Directors, then any Awards granted or sold under the Plan shall be rescinded and no additional grants or sales
shall thereafter be made under the Plan. Subject to such approval by stockholders and to the requirement that no Shares may be
issued hereunder prior to such approval, Stock Options and other Awards may be granted hereunder on and after adoption of the Plan
by the Board. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the date the Plan
is adopted by the Board or the date the Plan is approved by the Company’s stockholders, whichever is earlier.

 

SECTION
16. GOVERNING LAW

 

This Plan, all Awards and any controversy
arising out of or relating to this Plan and all Awards shall be governed by and construed in accordance with the General Corporation
Law of the State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed
in accordance with the internal laws of the State of Delaware, without regard to conflict of law principles that would result in
the application of any law other than the law of the State of Delaware.

 

	DATE ADOPTED BY THE BOARD OF DIRECTORS:	March 29, 2019
	 	 
	DATE APPROVED BY THE STOCKHOLDERS:	March 29, 2019

 

    	19

     

    

 

SPRINGWORKS
THERAPEUTICS, INC.

AMENDMENT NO.
1 TO

2019 STOCK OPTION
AND INCENTIVE PLAN

 

The SpringWorks
Therapeutics, Inc. 2019 Stock Option and Incentive Plan, as amended (the “Plan”) is hereby amended by the
Board of Directors as follows:

 

Section 3(a) of
the Plan is hereby amended to increase the total number of Shares (as defined in the Plan) reserved and available for issuance
under the Plan by 595,403 shares such that Section 3(a) of the Plan, as so amended, shall read in its entirety as
follows:

 

SECTION 3. STOCK
ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION

 

(a)           The
maximum number of Shares reserved and available for issuance under the Plan shall be 35,424,393 Shares, subject to adjustment as
provided in Section 3(b) (the “Pool Limit”). Subject to such overall limitations, Shares may be issued up to such
maximum number pursuant to any type or types of Award, and no more than the Pool Limit may be issued pursuant to Incentive Stock
Options. The Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company.
Beginning on the date that the Company becomes subject to Section 162(m) of the Code, Options with respect to no more than 10,000,000
Shares shall be granted to any one individual in any calendar year period. For purposes of the Pool Limit Shares underlying any
awards under the Plan that are forfeited, canceled, held back upon exercise of an Option or settlement of an Award to cover the
exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or otherwise
terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan and, to the
extent permitted under Section 422 of the Code and the regulations promulgated thereunder, the shares of Stock that may be
issued as Incentive Stock Options.

 

ADOPTED BY BOARD OF DIRECTORS: May
28, 2019

 

ADOPTED BY STOCKHOLDERS: June 4, 2019

 

     

     

    

 

SPRINGWORKS
THERAPEUTICS, INC.

AMENDMENT
NO. 2  TO

2019 STOCK OPTION
AND INCENTIVE PLAN

 

The SpringWorks
Therapeutics, Inc. 2019 Stock Option and Incentive Plan, as amended (the “Plan”) is hereby amended by the
Board of Directors as follows:

 

Section 3(a) of
the Plan is hereby amended to increase the total number of Shares (as defined in the Plan) reserved and available for issuance
under the Plan by 8,669,604 shares such that Section 3(a) of the Plan, as so amended, shall read in its entirety
as follows:

 

SECTION 3.    STOCK
ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION

 

(a)           The
maximum number of Shares reserved and available for issuance under the Plan shall be 44,093,997 Shares, subject to adjustment as
provided in Section 3(b) (the “Pool Limit”). Subject to such overall limitations, Shares may be issued up to such
maximum number pursuant to any type or types of Award, and no more than the Pool Limit may be issued pursuant to Incentive Stock
Options. The Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company.
Beginning on the date that the Company becomes subject to Section 162(m) of the Code, Options with respect to no more than 10,000,000
Shares shall be granted to any one individual in any calendar year period. For purposes of the Pool Limit Shares underlying any
awards under the Plan that are forfeited, canceled, held back upon exercise of an Option or settlement of an Award to cover the
exercise price or tax withholding, reacquired by the Company prior to vesting, satisfied without the issuance of Stock or otherwise
terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan and, to the
extent permitted under Section 422 of the Code and the regulations promulgated thereunder, the shares of Stock that may be
issued as Incentive Stock Options.

 

ADOPTED BY BOARD OF DIRECTORS: July
17, 2019

 

ADOPTED BY STOCKHOLDERS: July 26, 2019

 

     

     

    

 

INCENTIVE
STOCK OPTION GRANT NOTICE

UNDER THE
springworks therapeutics, inc.

2019 STOCK OPTION AND INCENTIVE PLAN

 

Pursuant to the SpringWorks Therapeutics,
Inc. 2019 Stock Option and Incentive Plan (the “Plan”), SpringWorks Therapeutics, Inc., a Delaware corporation (together
with any successor, the “Company”), has granted to the individual named below, an option (the “Stock Option”)
to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares
of Common Stock, par value $0.0001 per share (“Common Stock”), of the Company indicated below (the “Shares”),
at the Option Exercise Price per share, subject to the terms and conditions set forth in this Incentive Stock Option Grant Notice
(the “Grant Notice”), the attached Incentive Stock Option Agreement (the “Agreement”) and the Plan. This
Stock Option is intended to qualify as an “incentive stock option” as defined in Section 422(b) of the Internal
Revenue Code of 1986, as amended from time to time (the “Code”). To the extent that any portion of the Stock Option
does not so qualify, it shall be deemed a non-qualified stock option.

 

	Name of Optionee:	[           ] (the “Optionee”)
	 	 
	No. of Shares:	[           ] Shares of Common Stock
	 	 
	Grant Date:	[           ]
	 	 
	Vesting Commencement Date:	[           ] (the “Vesting Commencement Date”)
	 	 
	Expiration Date: 	[           ] (the “Expiration Date”)
	 	 
	Option Exercise Price/Share:	$[           ] (the “Option Exercise Price”)
	 	 
	Vesting Schedule:	Twenty-five percent (25%) of the Stock Options shall vest and become exercisable  on the first anniversary of the Vesting Commencement Date, provided that the Optionee continues to have a Service Relationship with the Company at such time. Thereafter, the remaining 75 percent of the Stock Options shall vest and become exercisable in 36 equal monthly installments following the first anniversary of the Vesting Commencement Date, provided the Optionee continues to have a Service Relationship with the Company on each vesting date. Notwithstanding anything in the Agreement to the contrary, in the case of a Sale Event, this Stock Option and the Shares shall be treated as provided in Section 3(c) of the Plan.

 

Attachments: Incentive Stock Option Agreement, 2019 Stock
Option and Incentive Plan

 

     

     

    

 

INCENTIVE
STOCK OPTION AGREEMENT

UNDER THE SPRINGWORKS therapeutics, inc. 2019 STOCK 

OPTION AND INCENTIVE PLAN

 

All capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Grant Notice and the Plan.

 

1.          Vesting,
Exercisability and Termination.

 

(a)          No
portion of this Stock Option may be exercised until such portion shall have vested and become exercisable.

 

(b)          Except
as set forth below, and subject to the determination of the Committee in its sole discretion to accelerate the vesting schedule
hereunder, this Stock Option shall be vested and exercisable on the respective dates indicated below:

 

(i)          This
Stock Option shall initially be unvested and unexercisable.

 

(ii)         This
Stock Option shall vest and become exercisable in accordance with the Vesting Schedule set forth in the Grant Notice.

 

(c)          Termination.
Except as may otherwise be provided by the Committee, if the Optionee’s Service Relationship is terminated, the period within
which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such
period, shall thereafter terminate subject, in each case, to Section 3(c) of the Plan):

 

(i)          Termination
Due to Death or Disability. If the Optionee’s Service Relationship terminates by reason of such Optionee’s death
or Disability, this Stock Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee,
the Optionee’s legal representative or legatee for a period of 12 months from the date of death or Disability or until the
Expiration Date, if earlier.

 

(ii)         Other
Termination. If the Optionee’s Service Relationship terminates for any reason other than death or Disability, and unless
otherwise determined by the Committee, this Stock Option may be exercised, to the extent exercisable on the date of termination,
for a period of 90 days from the date of termination or until the Expiration Date, if earlier; provided, however,
if the Optionee’s Service Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date
of such termination.

 

For purposes hereof, the Committee’s
determination of the reason for termination of the Optionee’s Service Relationship shall be conclusive and binding on the
Optionee and his or her representatives or legatees. Any portion of this Stock Option that is not vested and exercisable on the
date of termination of the Service Relationship shall terminate immediately and be null and void.

 

    	2

     

    

 

(d)          It
is understood and intended that this Stock Option is intended to qualify as an “incentive stock option” as defined
in Section 422 of the Code to the extent permitted under applicable law. Accordingly, the Optionee understands that in order
to obtain the benefits of an incentive stock option under Section 422 of the Code, no sale or other disposition may be made
of Shares for which incentive stock option treatment is desired within the one-year period beginning on the day after the day of
the transfer of such Shares to him or her, nor within the two-year period beginning on the day after Grant Date of this Stock Option
and further that this Stock Option must be exercised within three months days after termination of employment as an employee (or
12 months in the case of death or Disability) to qualify as an incentive stock option. If the Optionee disposes (whether by sale,
gift, transfer or otherwise) of any such Shares within either of these periods, he or she will notify the Company within 30 days
after such disposition. The Optionee also agrees to provide the Company with any information concerning any such dispositions required
by the Company for tax purposes. Further, to the extent this Stock Option and any other incentive stock options of the Optionee
having an aggregate Fair Market Value in excess of $100,000 (determined as of the Grant Date) first become exercisable in any year,
such options will not qualify as incentive stock options.

 

2.          Exercise
of Stock Option.

 

(a)          The
Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date, the Optionee may deliver a
Stock Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or
her election to purchase some or all of the Shares with respect to which this Stock Option is then exercisable. Such notice shall
specify the number of Shares to be purchased. Payment of the purchase price may be made by one or more of the methods described
in Section 5 of the Plan, subject to the limitations contained in such Section of the Plan, including the requirement that the
Committee specifically approve in advance certain payment methods.

 

(b)          Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date.

 

3.          Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms
and conditions of the Plan.

 

4.          Transferability
of Stock Option. This Stock Option is personal to the Optionee and is not transferable by the Optionee in any manner other
than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime
only by the Optionee (or by the Optionee’s guardian or personal representative in the event of the Optionee’s incapacity).
Following the Optionee's death, this Stock Option may be exercised by the Optionee's legal representative or legatee for the period
set forth in Section 1(c)(i) of this Agreement.

 

5.          Restrictions
on Transfer of Shares. The Shares acquired upon exercise of the Stock Option shall be subject to certain transfer restrictions
and other limitations including, without limitation, the provisions contained in Section 9 of the Plan.

 

    	3

     

    

 

6.          Miscellaneous
Provisions.

 

(a)          Equitable
Relief. The parties hereto agree and declare that legal remedies may be inadequate to enforce the provisions of this Agreement
and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this
Agreement.

 

(b)          Adjustments
for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reincorporation, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common
Stock are increased or decreased or are exchanged for a different number or kind of securities of the Company, the restrictions
contained in this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee
in exchange for, or by virtue of his or her ownership of, this Stock Option or Shares acquired pursuant thereto.

 

(c)          Change
and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company
and the Optionee.

 

(d)          Governing
Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware
as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal
laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other
than the law of the State of Delaware.

 

(e)          Headings.
The headings are intended only for convenience in finding the subject matter and do not constitute part of the text of this Agreement
and shall not be considered in the interpretation of this Agreement.

 

(f)          Saving
Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall
in no manner affect the legality or enforceability of any other provision hereof.

 

(g)          Notices.
All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally, by
telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices
to the Company or the Optionee shall be addressed as set forth underneath their signatures below, or to such other address or addresses
as may have been furnished by such party in writing to the other.

 

(h)          Benefit
and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective
successors, assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become
entitled to all the rights of the Company hereunder to the extent of such assignment.

 

    	4

     

    

 

(i)          Counterparts.
For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same document.

 

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

 

7.          Dispute
Resolution.

 

(a)          Except
as provided below, any dispute arising out of or relating to the Plan or this Stock Option, this Agreement, or the breach, termination
or validity of the Plan, this Stock Option or this Agreement, shall be finally settled by binding arbitration conducted expeditiously
in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1 16, and judgment upon the award rendered
by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be New York, New York.

 

(b)          The
arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party
and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration,
each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration,
the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration
or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered
within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to
such damages.

 

(c)          The
Company, the Optionee, each party to the Agreement and any other holder of Shares issued pursuant to this Agreement (each, a “Party”)
covenants and agrees that such party will participate in the arbitration in good faith. This Section 7 applies equally to requests
for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief
any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm.

 

    	5

     

    

 

(d)          Each
Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives
and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the
judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices
are to be given. Each Party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process
by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant
to the laws of such other jurisdiction.

 

8.          Waiver
of Statutory Information Rights. The Optionee understands and agrees that, but for the waiver made herein, the Optionee would
be entitled, upon written demand under oath stating the purpose thereof, to inspect for any proper purpose, and to make copies
and extracts from, the Company’s stock ledger, a list of its stockholders, and its other books and records, and the books
and records of subsidiaries of the Company, if any, under the circumstances and in the manner provided in Section 220 of the General
Corporation Law of Delaware (any and all such rights, and any and all such other rights of the Optionee as may be provided for
in Section 220, the “Inspection Rights”). In light of the foregoing, until the first sale of Stock of the Company to
the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission
under the Securities Act, the Optionee hereby unconditionally and irrevocably waives the Inspection Rights, whether such Inspection
Rights would be exercised or pursued directly or indirectly pursuant to Section 220 or otherwise, and covenants and agrees never
to directly or indirectly commence, voluntarily aid in any way, prosecute, assign, transfer, or cause to be commenced any claim,
action, cause of action, or other proceeding to pursue or exercise the Inspection Rights. The foregoing waiver shall not affect
any rights of a director, in his or her capacity as such, under Section 220. The foregoing waiver shall not apply to any contractual
inspection rights of the Optionee under any other written agreement between the Optionee and the Company.

 

[SIGNATURE PAGE FOLLOWS]

 

    	6

     

    

 

The foregoing Agreement is hereby accepted
and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written.

 

	 	SPRINGWORKS THERAPEUTICS, INC. 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Address:
	 	 
	 	100 Washington Blvd.
	 	Stamford, CT 06902

 

[Signature Page to SpringWorks Therapeutics, Inc. ISO Award]

 

     

     

    

 

The undersigned hereby acknowledges receiving and reviewing
a copy of the Plan, including, without limitation, Section 9 thereof, and understands that this Stock Option is subject to the
terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions of the Plan, the Grant
Notice and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION PROVISIONS SET FORTH IN SECTION 7 AND THE WAIVER OF STATUTORY
INFORMATION RIGHTS SET FORTH IN SECTION 8 OF THIS AGREEMENT, are hereby agreed to, by the undersigned as of the date first above
written.

 

	 	OPTIONEE:
	 	 
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

SPOUSE’S CONSENT

I acknowledge that I have read the

foregoing Incentive Stock Option Agreement

and understand the contents thereof.

 

 

 

Appendix A

 

STOCK OPTION EXERCISE NOTICE

 

SpringWorks Therapeutics, Inc.

Attention: Michael Greco

100 Washington Blvd

Stamford, CT 06902

 

Pursuant to the terms of the grant notice and stock option agreement
between the undersigned and SpringWorks Therapeutics, Inc. (the “Company”) dated [ ] (the “Agreement”)
under the SpringWorks Therapeutics, Inc. 2019 Stock Option and Incentive Plan, I, [ ], hereby [Circle One] partially/fully exercise
such option by including herein payment in the amount of $______ representing the purchase price for [Fill in number of Shares]
_______ Shares. I have chosen the following form(s) of payment:

 

[Signature Page to SpringWorks Therapeutics, Inc. ISO Award]

 

     

     

    

 

	[ ]	1.          Cash
	[ ]	2.          Certified or bank check payable to SpringWorks Therapeutics, Inc.
	[ ]	3.          Other (as referenced in the Agreement and described in the Plan (please describe))
	 	 	 

 

In connection with my exercise of the option
as set forth above, I hereby represent and warrant to the Company as follows:

 

(i)          I
am purchasing the Shares for my own account for investment only, and not for resale or with a view to the distribution thereof.

 

(ii)         I
have had such an opportunity as I have deemed adequate to obtain from the Company such information as is necessary to permit me
to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers with respect to my investment
in the Company.

 

(iii)        I
have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase
of the Shares and to make an informed investment decision with respect to such purchase.

 

(iv)        I
can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite
period of time.

 

(v)         I
understand that the Shares may not be registered under the Securities Act of 1933 (it being understood that the Shares are being
issued and sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue
sky” laws and may not be sold or otherwise transferred or disposed of in the absence of an effective registration statement
under the Securities Act of 1933 and under any applicable state securities or “blue sky” laws (or exemptions from the
registration requirement thereof). I further acknowledge that certificates representing Shares will bear restrictive legends reflecting
the foregoing and/or that book entries for uncertificated Shares will include similar restrictive notations.

 

(vi)        I
have read and understand the Plan and acknowledge and agree that the Shares are subject to all of the relevant terms of the Plan,
including without limitation, the transfer restrictions set forth in Section 9 of the Plan.

 

(vii)       I
understand and agree that the Company has a right of first refusal with respect to the Shares pursuant to Section 9(b) of the Plan.

 

(viii)      I
understand and agree that the Company has certain repurchase rights with respect to the Shares pursuant to Section 9(c) of the
Plan.

 

    	2

     

    

 

(ix)         I
understand and agree that I may not sell or otherwise transfer or dispose of the Shares for a period of time following the effective
date of a public offering by the Company as described in Section 9(f) of the Plan.

 

(x)          I
understand and agree to the waiver of statutory information rights as set forth in Section 8 of the Agreement.

 

(xi)         I
understand and agree that, if requested by the Company at its sole discretion, as a condition to the issuance of the Shares hereunder,
I will become a party to:

 

(A)         that
certain Right of First Refusal and Co-Sale Agreement between the Company and certain of its stockholders dated as of March 29,
2019, for so long as such agreement is in effect and as the same may be amended or amended and restated from time to time (the
“Right of First Refusal and Co-Sale Agreement”), and I shall thereby be bound by, and subject to, all the terms and
provisions of the Right of First Refusal and Co-Sale Agreement applicable to a Key Holder thereunder, and that I will execute a
counterpart signature page thereto, promptly upon such request; and

 

(B)         that
certain Voting Agreement between the Company and certain of its stockholders dated as of March 29, 2019, for so long as such agreement
is in effect and as the same may be amended or amended and restated from time to time (the “Voting Agreement”), and
I shall thereby be bound by, and subject to, all the terms and provisions of the Voting Agreement applicable to a Key Holder thereunder,
and that I will execute an Adoption Agreement thereto, promptly upon such request.

 

	 	Sincerely yours,
	 	 
	 	 
	 	Name:  
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	Date:	 

 

    	3

     

    

 

NON-QUALIFIED
STOCK OPTION GRANT NOTICE

UNDER THE
SpringWorks Therapeutics, Inc.

2019 STOCK OPTION AND INCENTIVE PLAN

 

Pursuant to the SpringWorks Therapeutics,
Inc. 2019 Stock Option and Incentive Plan (the “Plan”), SpringWorks Therapeutics, Inc., a Delaware corporation (together
with any successor, the “Company”), has granted to the individual named below, an option (the “Stock Option”)
to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares
of Common Stock, par value $0.0001 per share (“Common Stock”), of the Company indicated below (the “Shares”),
at the Option Exercise Price per share, subject to the terms and conditions set forth in this Non-Qualified Stock Option Grant
Notice (the “Grant Notice”), the attached Non-Qualified Stock Option Agreement (the “Agreement”) and the
Plan. This Stock Option is not intended to qualify as an “incentive stock option” as defined in Section 422(b)
of the Internal Revenue Code of 1986, as amended from time to time (the “Code”).

 

	Name of Optionee:	__________________ (the “Optionee”)
	 	 
	No. of Shares:	__________ Shares of Common Stock
	 	 
	Grant Date:	__________________
	 	 
	Vesting Commencement Date:	__________________ (the “Vesting Commencement Date”)
	 	 
	Expiration Date: 	__________________ (the “Expiration Date”)
	 	 
	Option Exercise Price/Share:	$_________________ (the “Option Exercise Price”)
	 	 
	Vesting Schedule:	Twenty-five percent (25%) of the Shares shall vest and become exercisable on the first anniversary of the Vesting Commencement Date; provided that the Optionee continues to have a Service Relationship with the Company at such time. Thereafter, the remaining 75 percent of the Shares shall vest and become exercisable in 36 equal monthly installments following the first anniversary of the Vesting Commencement Date, provided the Optionee continues to have a Service Relationship with the Company on each vesting date.  Notwithstanding anything in the Agreement to the contrary, in the case of a Sale Event, this Stock Option and the Shares shall be treated as provided in Section 3(c) of the Plan.

 

Attachments: Non-Qualified Stock Option Agreement, 2019
Stock Option and Incentive Plan

 

     

     

    

 

NON-QUALIFIED
STOCK OPTION AGREEMENT

UNDER THE SpringWorks Therapeutics, Inc.

2019 STOCK OPTION AND INCENTIVE PLAN

 

All capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Grant Notice and the Plan.

 

1.          Vesting,
Exercisability and Termination.

 

(a)          No
portion of this Stock Option may be exercised until such portion shall have vested and become exercisable.

 

(b)          Except
as set forth below, and subject to the determination of the Committee in its sole discretion to accelerate the vesting schedule
hereunder, this Stock Option shall be vested and exercisable on the respective dates indicated below:

 

(i)          This
Stock Option shall initially be unvested and unexercisable.

 

(ii)         This
Stock Option shall vest and become exercisable in accordance with the Vesting Schedule set forth in the Grant Notice.

 

(c)          Termination.
Except as may otherwise be provided by the Committee, if the Optionee’s Service Relationship is terminated, the period within
which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such
period, shall thereafter terminate subject, in each case, to Section 3(c) of the Plan):

 

(i)          Termination
Due to Death or Disability. If the Optionee’s Service Relationship terminates by reason of such Optionee’s death
or Disability, this Stock Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee,
the Optionee’s legal representative or legatee for a period of 12 months from the date of death or Disability or until the
Expiration Date, if earlier.

 

(ii)         Other
Termination. If the Optionee’s Service Relationship terminates for any reason other than death or Disability, and unless
otherwise determined by the Committee, this Stock Option may be exercised, to the extent exercisable on the date of termination,
for a period of 90 days from the date of termination or until the Expiration Date, if earlier; provided, however,
if the Optionee’s Service Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date
of such termination.

 

For purposes hereof, the Committee’s
determination of the reason for termination of the Optionee’s Service Relationship shall be conclusive and binding on the
Optionee and his or her representatives or legatees and any Permitted Transferee. Any portion of this Stock Option that is not
vested and exercisable on the date of termination of the Service Relationship shall terminate immediately and be null and void.

 

    	2

     

    

 

2.          Exercise
of Stock Option.

 

(a)          The
Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date, the Optionee may deliver a
Stock Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or
her election to purchase some or all of the Shares with respect to which this Stock Option is then exercisable. Such notice shall
specify the number of Shares to be purchased. Payment of the purchase price may be made by one or more of the methods described
in Section 5 of the Plan, subject to the limitations contained in such Section of the Plan, including the requirement that the
Committee specifically approve in advance certain payment methods.

 

(b)          Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date.

 

3.          Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms
and conditions of the Plan.

 

4.          Transferability
of Stock Option. This Stock Option is personal to the Optionee and is not transferable by the Optionee in any manner other
than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime
only by the Optionee (or by the Optionee’s guardian or personal representative in the event of the Optionee’s incapacity).
Following the Optionee's death, this Stock Option may be exercised by the Optionee's legal representative or legatee for the period
set forth in Section 1(c)(i) of this Agreement.

 

5.          Restrictions
on Transfer of Shares. The Shares acquired upon exercise of the Stock Option shall be subject to certain transfer restrictions
and other limitations including, without limitation, the provisions contained in Section 9 of the Plan.

 

6.          Miscellaneous
Provisions.

 

(a)          Equitable
Relief. The parties hereto agree and declare that legal remedies may be inadequate to enforce the provisions of this Agreement
and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this
Agreement.

 

(b)          Adjustments
for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reincorporation, reclassification,
stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common
Stock are increased or decreased or are exchanged for a different number or kind of securities of the Company, the restrictions
contained in this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee
in exchange for, or by virtue of his or her ownership of, this Stock Option or Shares acquired pursuant thereto.

 

(c)          Change
and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company
and the Optionee.

 

    	3

     

    

 

(d)          Governing
Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware
as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal
laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other
than the law of the State of Delaware.

 

(e)          Headings.
The headings are intended only for convenience in finding the subject matter and do not constitute part of the text of this Agreement
and shall not be considered in the interpretation of this Agreement.

 

(f)          Saving
Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall
in no manner affect the legality or enforceability of any other provision hereof.

 

(g)          Notices.
All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally, by
telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices
to the Company or the Optionee shall be addressed as set forth underneath their signatures below, or to such other address or addresses
as may have been furnished by such party in writing to the other.

 

(h)          Benefit
and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective
successors, assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become
entitled to all the rights of the Company hereunder to the extent of such assignment.

 

(i)          Counterparts.
For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same document.

 

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

 

7.          Dispute
Resolution.

 

(a)          Except
as provided below, any dispute arising out of or relating to the Plan or this Stock Option, this Agreement, or the breach, termination
or validity of the Plan, this Stock Option or this Agreement, shall be finally settled by binding arbitration conducted expeditiously
in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1-16, and judgment upon the award rendered
by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be New York, New York.

 

    	4

     

    

 

(b)          The
arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party
and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration,
each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration,
the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration
or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered
within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to
such damages.

 

(c)          The
Company, the Optionee, each party to the Agreement and any other holder of Shares issued pursuant to this Agreement (each, a “Party”)
covenants and agrees that such party will participate in the arbitration in good faith. This Section 7 applies equally to requests
for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief
any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm.

 

(d)          Each
Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives
and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the
judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices
are to be given. Each Party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process
by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant
to the laws of such other jurisdiction.

 

8.          Waiver
of Statutory Information Rights. The Optionee understands and agrees that, but for the waiver made herein, the Optionee would
be entitled, upon written demand under oath stating the purpose thereof, to inspect for any proper purpose, and to make copies
and extracts from, the Company’s stock ledger, a list of its stockholders, and its other books and records, and the books
and records of subsidiaries of the Company, if any, under the circumstances and in the manner provided in Section 220 of the General
Corporation Law of Delaware (any and all such rights, and any and all such other rights of the Optionee as may be provided for
in Section 220, the “Inspection Rights”). In light of the foregoing, until the first sale of Stock of the Company to
the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission
under the Securities Act, the Optionee hereby unconditionally and irrevocably waives the Inspection Rights, whether such Inspection
Rights would be exercised or pursued directly or indirectly pursuant to Section 220 or otherwise, and covenants and agrees never
to directly or indirectly commence, voluntarily aid in any way, prosecute, assign, transfer, or cause to be commenced any claim,
action, cause of action, or other proceeding to pursue or exercise the Inspection Rights. The foregoing waiver shall not affect
any rights of a director, in his or her capacity as such, under Section 220. The foregoing waiver shall not apply to any contractual
inspection rights of the Optionee under any other written agreement between the Optionee and the Company.

 

[SIGNATURE PAGE FOLLOWS]

 

    	5

     

    

 

The foregoing Agreement is hereby accepted
and the terms and conditions thereof hereby agreed to by the undersigned as of the date first above written.

 

	 	SpringWorks Therapeutics, Inc.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

The undersigned hereby acknowledges receiving and reviewing
a copy of the Plan, including, without limitation, Section 9 thereof, and understands that this Stock Option is subject to the
terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions of the Plan, the Grant
Notice and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION PROVISIONS SET FORTH IN SECTION 7 AND THE WAIVER OF STATUTORY
INFORMATION RIGHTS SET FORTH IN SECTION 8 OF THIS AGREEMENT, are hereby agreed to, by the undersigned as of the date first above
written.

 

	 	OPTIONEE:
	 	 
	 	 
	 	Name:  
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

    	6

     

    

 

[SPOUSE’S CONSENT1

I acknowledge that I have read the

foregoing Non-Qualified Stock Option Agreement

and understand the contents thereof.

 

____________________________________]

 

 

 

1
A spouse’s consent is recommended only if the Optionee’s state of residence is one of the following community property
states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.

 

 

    	7

     

    

 

	 	DESIGNATED BENEFICIARY:
	 	 
	 	 
	 	 
	 	Beneficiary’s Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

    	8

     

    

 

Appendix A

 

STOCK OPTION EXERCISE NOTICE

 

SpringWorks Therapeutics, Inc.

Attention: [____________________]

____________________________

____________________________

 

Pursuant to the terms of the grant notice
and stock option agreement between the undersigned and SpringWorks Therapeutics, Inc. (the “Company”) dated __________
(the “Agreement”) under the SpringWorks Therapeutics, Inc. 2019 Stock Option and Incentive Plan, I, [Insert Name] ________________,
hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of $______ representing the
purchase price for [Fill in number of Shares] _______ Shares. I have chosen the following form(s) of payment:

 

	[ ]	1.	Cash
	[ ]	2. 	Certified or bank check payable to SpringWorks Therapeutics, Inc.
	[ ]	3.	Other (as referenced in the Agreement and described in the Plan (please describe))
	 	 	 

 

In connection with my exercise of the option
as set forth above, I hereby represent and warrant to the Company as follows:

 

(i)          I
am purchasing the Shares for my own account for investment only, and not for resale or with a view to the distribution thereof.

 

(ii)         I
have had such an opportunity as I have deemed adequate to obtain from the Company such information as is necessary to permit me
to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers with respect to my investment
in the Company.

 

(iii)        I
have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase
of the Shares and to make an informed investment decision with respect to such purchase.

 

(iv)        I
can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite
period of time.

 

(v)         I
understand that the Shares may not be registered under the Securities Act of 1933 (it being understood that the Shares are being
issued and sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue
sky” laws and may not be sold or otherwise transferred or disposed of in the absence of an effective registration statement
under the Securities Act of 1933 and under any applicable state securities or “blue sky” laws (or exemptions from the
registration requirement thereof). I further acknowledge that certificates representing Shares will bear restrictive legends reflecting
the foregoing and/or that book entries for uncertificated Shares will include similar restrictive notations.

 

    	9

     

    

 

(vi)        I
have read and understand the Plan and acknowledge and agree that the Shares are subject to all of the relevant terms of the Plan,
including without limitation, the transfer restrictions set forth in Section 9 of the Plan.

 

(vii)       I
understand and agree that the Company has a right of first refusal with respect to the Shares pursuant to Section 9(b) of the Plan.

 

(viii)      I
understand and agree that the Company has certain repurchase rights with respect to the Shares pursuant to Section 9(c) of the
Plan.

 

(ix)         I
understand and agree that I may not sell or otherwise transfer or dispose of the Shares for a period of time following the effective
date of a public offering by the Company as described in Section 9(f) of the Plan.

 

(x)          I
understand and agree to the waiver of statutory information rights as set forth in Section 8 of the Agreement.

 

(xi)         I
understand and agree that, if requested by the Company at its sole discretion, as a condition to the issuance of the Shares hereunder,
I will become a party to:

 

(A)         that
certain Right of First Refusal and Co-Sale Agreement between the Company and certain of its stockholders dated as of March 29,
2019, for so long as such agreement is in effect and as the same may be amended or amended and restated from time to time (the
“Right of First Refusal and Co-Sale Agreement”), and I shall thereby be bound by, and subject to, all the terms and
provisions of the Right of First Refusal and Co-Sale Agreement applicable to a Key Holder thereunder, and that I will execute a
counterpart signature page thereto promptly upon such request; and

 

(B)         that
certain Voting Agreement between the Company and certain of its stockholders dated as of March 29, 2019, for so long as such agreement
is in effect and as the same may be amended or amended and restated from time to time (the “Voting Agreement”), and
I shall thereby be bound by, and subject to, all the terms and provisions of the Voting Agreement applicable to a Key Holder thereunder,
and that I will execute an Adoption Agreement thereto promptly upon such request.

 

    	10

     

    

 

	 	Sincerely yours,
	 	 
	 	 
	 	Name:
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	Date:	 

 

    	11

     

    

 

Restricted
Stock AWARD NOTICE

UNDER THE SPRINGWORKS THERAPEUTICS, INC.

2019 Stock Option and Incentive Plan

 

Pursuant to the SpringWorks Therapeutics,
Inc. 2019 Stock Option and Incentive Plan (the “Plan”), SpringWorks Therapeutics, Inc., a Delaware corporation (together
with any successor, the “Company”), hereby grants and issues to the individual named below, the Shares (as defined
below), subject to the terms and conditions set forth in this Restricted Stock Award Notice (the “Award Notice”), the
attached Restricted Stock Agreement (the “Agreement”) and the Plan. The Grantee agrees to the provisions set forth
herein and acknowledges that each such provision is a material condition of the Company’s agreement to issue the Shares to
him or her. All references to share prices and amounts herein shall be equitably adjusted to reflect stock splits, stock dividends,
recapitalizations, mergers, reorganizations and similar changes affecting the capital stock of the Company, and any shares of capital
stock of the Company received on or in respect of Shares in connection with any such event (including any shares of capital stock
or any right, option or warrant to receive the same or any security convertible into or exchangeable for any such shares or received
upon conversion of any such shares) shall be subject to this Agreement on the same basis and extent at the relevant time as the
Shares in respect of which they were issued, and shall be deemed Shares as if and to the same extent they were issued at the date
hereof.

 

	Name of Grantee:	_________  (the “Grantee”)
	 	 
	No. of Shares:  	_________ Shares of Common Stock (the “Shares”)
	 	 
	Grant Date:	____________,
	 	 
	Date of Receipt of Shares:	____________,
	 	 
	Vesting Commencement Date:	__________ (the “Vesting Commencement Date”)
	 	 
	Vesting Schedule:	Twenty-five percent (25%) of the Shares shall vest on the first anniversary of the Vesting Commencement Date; provided that the Grantee continues to have a Service Relationship with the Company at such time.  Thereafter, the remaining 75 percent of the Shares shall vest in 36 equal monthly installments following the first anniversary of the Vesting Commencement Date, provided the Grantee continues to have a Service Relationship with the Company at such time.  Notwithstanding anything in the Agreement to the contrary in the case of a Sale Event, the Shares of Restricted Stock shall be treated as provided in Section 3(c) of the Plan.

 

Attachments: Restricted Stock Agreement, 2019 Stock Option and
Incentive Plan

 

     

     

    

 

Restricted
Stock Agreement

under the springworks THERAPEUTICS, inc.

2019 Stock Option and Incentive Plan

 

All capitalized terms used herein and not
otherwise defined shall have the respective meanings set forth in the Award Notice and the Plan.

 

1.           Vesting;
Investment Representations.

 

(a)          Issuance.
The Company hereby issues to the Grantee, and the Grantee hereby accepts from the Company, the number of Shares set forth in the
Award Notice.

 

(b)          Vesting.
Initially, all of the Shares are non-transferable and subject to a substantial risk of forfeiture and are Shares of Restricted
Stock. The risk of forfeiture shall lapse with respect to the Shares on the respective dates indicated on the Vesting Schedule
set forth in the Award Notice.

 

(c)          Investment
Representations. In connection with the receipt of the Shares contemplated by Section 1(a) above, the Grantee hereby represents
and warrants to the Company as follows:

 

(i)          The
Grantee is receiving the Shares for the Grantee’s own account for investment only, and not for resale or with a view to the
distribution thereof.

 

(ii)         The
Grantee has had such an opportunity as he or she has deemed adequate to obtain from the Company such information as is necessary
to permit him or her to evaluate the merits and risks of the Grantee’s investment in the Company and has consulted with the
Grantee’s own advisers with respect to the Grantee’s investment in the Company.

 

(iii)        The
Grantee has sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the
receipt of the Shares and to make an informed investment decision with respect to such Shares.

 

(iv)        The
Grantee can afford a complete loss of the value of the Shares and is able to bear the economic risk of holding such Shares for
an indefinite period.

 

(v)         The
Grantee understands that the Shares are not registered under the Act (it being understood that the Shares are being issued and
sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue sky”
laws and may not be sold or otherwise transferred or disposed of in the absence of an effective registration statement under the
Act and under any applicable state securities or “blue sky” laws (or exemptions from the registration requirements
thereof). The Grantee further acknowledges that certificates representing the Shares will bear restrictive legends reflecting the
foregoing and/or that book entries for uncertificated Shares will include similar restrictive notations.

 

    	2

     

    

 

(vi)        The
Grantee has read and understands the Plan and acknowledges and agrees that the Shares are subject to all of the relevant terms
of the Plan, including without limitation, the transfer restrictions set forth in Section 9 of the Plan.

 

(vii)       The
Grantee understands and agrees that the Company has a right of first refusal with respect to the Shares pursuant to Section 9(b)
of the Plan.

 

(viii)      The
Grantee understands and agree that the Company has certain repurchase rights with respect to the Shares pursuant to Section 9(c)
of the Plan.

 

(ix)         The
Grantee understands and agrees that the Grantee may not sell or otherwise transfer or dispose of the Shares for a period of time
following the effective date of a public offering by the Company as described in Section 9(f) of the Plan.

 

2.          Repurchase
Right. Upon a Termination Event, the Company shall have the right to repurchase Shares of Restricted Stock that are unvested
as of the date of such Termination Event as set forth in Section 9(c) of the Plan.

 

3.          Restrictions
on Transfer of Shares. The Shares (whether or not vested) shall be subject to certain transfer restrictions and other limitations
including, without limitation, the provisions contained in Section 9 of the Plan. The Grantee acknowledges and agrees that, if
requested by the Company in its sole discretion, as a condition to the issuance of the Shares hereunder, the Grantee will become
a party to:

 

(a)          That
certain Right of First Refusal and Co-Sale Agreement between the Company and certain of its stockholders dated as of March 29,
2019, for so long as such agreement is in effect and shall thereby be bound by, and subject to, all the terms and provisions of
such Right of First Refusal and Co-Sale Agreement applicable to a Key Holder thereunder, and that the Grantee will execute a counterpart
signature page thereto, promptly upon such request; and

 

(b)          That
certain Voting Agreement between the Company and certain of its stockholders dated as of March 29, 2019, for so long as such agreement
is in effect and shall thereby be bound by, and subject to, all the terms and provisions of such Voting Agreement applicable to
a Key Holder thereunder, and that the Grantee will execute an Adoption Agreement thereto, promptly upon such request.

 

4.          Incorporation
of Plan. Notwithstanding anything herein to the contrary, this Restricted Stock Award shall be subject to and governed by all
the terms and conditions of the Plan.

 

5.          Miscellaneous
Provisions.

 

(a)          Record
Owner; Dividends. The Grantee and any Permitted Transferees, during the duration of this Agreement, shall be considered the
record owners of and shall be entitled to vote the Shares if and to the extent the Shares are entitled to voting rights. The Grantee
and any Permitted Transferees shall be entitled to receive all dividends and any other distributions declared on the Shares; provided,
however, that the Company is under no duty to declare any such dividends or to make any such distribution.

 

    	3

     

    

 

(b)          Section
83(b) Election. The Grantee shall consult with the Grantee’s tax advisor to determine whether it would be appropriate
for the Grantee to make an election under Section 83(b) of the Code with respect to this Award. Any such election must be filed
with the Internal Revenue Service within 30 days of the date of this Award. If the Grantee makes an election under Section 83(b)
of the Code, the Grantee shall give prompt notice to the Company (and provide a copy of such election to the Company). A sample
Section 83(b) election is attached to this Agreement as Exhibit A.

 

(c)          Equitable
Relief. The parties hereto agree and declare that legal remedies may be inadequate to enforce the provisions of this Agreement
and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this
Agreement.

 

(d)          Change
and Modifications. This Agreement may not be orally changed, modified or terminated, nor shall any oral waiver of any of its
terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company
and the Grantee.

 

(e)          Governing
Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware
as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal
laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other
than the law of the State of Delaware.

 

(f)          Headings.
The headings are intended only for convenience in finding the subject matter and do not constitute part of the text of this Agreement
and shall not be considered in the interpretation of this Agreement.

 

(g)          Saving
Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall
in no manner affect the legality or enforceability of any other provision hereof.

 

(h)          Notices.
All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally, by
telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices
to the Company or the Grantee shall be addressed as set forth underneath their signatures below, or to such other address or addresses
as may have been furnished by such party in writing to the other.

 

(i)          Benefit
and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their respective
successors, assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become
entitled to all the rights of the Company hereunder to the extent of such assignment.

 

    	4

     

    

 

(j)          Counterparts.
For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which shall constitute one and the same document.

 

(k)          Integration.
This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior agreements
and discussions between the parties concerning such subject matter.

 

6.          Dispute
Resolution.

 

(a)          Except
as provided below, any dispute arising out of or relating to the Plan or the Shares, this Agreement, or the breach, termination
or validity of the Plan, the Shares or this Agreement, shall be finally settled by binding arbitration conducted expeditiously
in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S. Rules”). The
arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Sections 1 - 16, and judgment upon the award rendered
by the arbitrators may be entered by any court having jurisdiction thereof. The place of arbitration shall be New York, New York.

 

(b)          The
arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In
connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party
and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration,
each party to the arbitration shall provide to the other, no later than seven business days before the date of the arbitration,
the identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration
or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered
within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any
award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory
damages and shall not multiply actual damages or award punitive damages, and each party hereby irrevocably waives any claim to
such damages.

 

(c)          The
Company, the Grantee, each party to the Agreement and any other holder of Shares issued pursuant to this Agreement (each, a “Party”)
covenants and agrees that such party will participate in the arbitration in good faith. This Section 6 applies equally to requests
for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief
any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable harm.

 

    	5

     

    

 

(d)          Each
Party (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent jurisdiction for the
purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable
law), that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and (iii) hereby waives
and agrees not to seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the
judgment of any such court. Each Party hereby consents to service of process by registered mail at the address to which notices
are to be given. Each Party agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process
by mail is made for the express benefit of each other Party. Final judgment against any Party in any such action, suit or proceeding
may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant
to the laws of such other jurisdiction.

 

7.          Waiver
of Statutory Information Rights. The Grantee understands and agrees that, but for the waiver made herein, the Grantee would
be entitled, upon written demand under oath stating the purpose thereof, to inspect for any proper purpose, and to make copies
and extracts from, the Company’s stock ledger, a list of its stockholders, and its other books and records, and the books
and records of subsidiaries of the Company, if any, under the circumstances and in the manner provided in Section 220 of the General
Corporation Law of Delaware (any and all such rights, and any and all such other rights of the Grantee as may be provided for in
Section 220, the “Inspection Rights”). In light of the foregoing, until the first sale of Stock of the Company to the
general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission
under the Securities Act, the Grantee hereby unconditionally and irrevocably waives the Inspection Rights, whether such Inspection
Rights would be exercised or pursued directly or indirectly pursuant to Section 220 or otherwise, and covenants and agrees never
to directly or indirectly commence, voluntarily aid in any way, prosecute, assign, transfer, or cause to be commenced any claim,
action, cause of action, or other proceeding to pursue or exercise the Inspection Rights. The foregoing waiver shall not affect
any rights of a director, in his or her capacity as such, under Section 220. The foregoing waiver shall not apply to any contractual
inspection rights of the Grantee under any other written agreement between the Grantee and the Company.

 

[SIGNATURE PAGE FOLLOWS]

 

    	6

     

    

 

The foregoing Restricted Stock Agreement
is hereby accepted and the terms and conditions thereof are hereby agreed to by the undersigned as of the date first set forth
above.

 

	 	SpringWorks Therapeutics, Inc.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Address:
	 	 	 
	 	100 Washington Blvd.
	 	Stamford, CT 06902    

 

The undersigned hereby acknowledges receiving and reviewing
a copy of the Plan, including, without limitation, Section 9 thereof and understands that the Shares granted hereby are subject
to the terms of the Plan and of this Agreement. This Agreement is hereby accepted, and the terms and conditions of the Plan, the
Award Notice and this Agreement, SPECIFICALLY INCLUDING THE ARBITRATION PROVISIONS SET FORTH IN SECTION 6 AND THE WAIVER OF STATUTORY
INFORMATION RIGHTS SET FORTH IN SECTION 7 OF THIS AGREEMENT, are hereby agreed to, by the undersigned as of the date first above
written.

 

	 	GRANTEE:
	 	 
	 	 
	 	Name:  
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

    	7

     

    

 

	SPOUSE’S CONSENT	 
	I acknowledge that I have read the	 
	foregoing Restricted Stock Agreement	 
	and understand the contents thereof.	 
	 	 
	 	 

 

    	8

     

    

 

EXHIBIT A

 

Protective
Election to Include in Gross Income in Year of Transfer of Property

Pursuant to Section 83(b) of the Internal Revenue Code

 

The undersigned hereby makes an election
pursuant to Section 83(b) of the Internal Revenue Code, as amended, Treasury Regulations Section 1.83-2 promulgated thereunder,
and Rev. Proc. 2012-29, 2012-28 IRB, 06/26/2012, to include in gross income as compensation for services the excess (if any) of
the fair market value of the property described below over the amount paid for such property.

 

		1.	The name, address and taxpayer identification number of
the undersigned, and the taxable year of which this election is being made are:

 

	Name:	 
	 	 
	Address:	[                 ]
	 	[                 ]

 

	Taxpayer Identification Number:  	[                 ]

 

	The taxable year to which this election relates:  Calendar year 2019

 

		2.	Description of property to which the election is being
made:

 

The election is being made with respect to [___]
shares of Common Stock of SpringWorks Therapeutics, Inc., a Delaware corporation (the “Shares”).

 

		3.	Date on which property was transferred: [                 ].

 

		4.	Nature of restrictions to which the property is subject:

 

The Shares will be subject to certain restrictions
on transfer and a vesting schedule that will require forfeiture of all or a part of that interest in the property upon the occurrence
of certain events.

 

		5.	Fair market value of the property at time of transfer equals
the value of the partnership interests of SpringWorks Therapeutics, LLC, a Delaware limited liability company, contributed
to SpringWorks Therapeutics, Inc., a Delaware corporation, in a transaction governed by section 351 of the code.

 

		6.	For the property transferred, the undersigned paid partnership
interests of SpringWorks Therapeutics, LLC, a Delaware limited liability company,, equal in value to the fair market value of
the Shares.

 

		7.	The amount to include in gross income is $0.

 

    	9

     

    

 

The undersigned taxpayer will file this election with the Internal
Revenue Service office with which taxpayer files his or her annual income tax return not later than 30 days after the date of transfer
of the property. A copy of the election also will be furnished to the person for whom the services were performed. The undersigned
is the person performing the services in connection with which the property was transferred.

 

	Date:_______	

 

    	10

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