Document:

Exhibit
10.20

 

***Certain
identified information has been omitted from this exhibit because it is both (i) not material and (ii) would likely cause competitive
harm to the Registrant if publicly disclosed. Such omitted information is indicated by brackets (“[...***...]”) in this exhibit.
***

 

SPONSORED
RESEARCH AGREEMENT

 

This
Agreement is between THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (“Stanford”), an institution of higher
education having corporate powers under the laws of the State of California having an office at 415 Broadway Street, 2nd
Floor, MC 8854, Redwood City, CA 94063, and JASPER THERAPEUTICS, INC., a Delaware corporation (“Company”), having
its principal place of business at 2200 Bridge Parkway, Suite 102, Redwood City, CA 94065.

 

	Agreement Number:	SPO196173
	Research Program Title:	Treatment of Fanconi Anemia patients
    in Bone Marrow Failure requiring allogeneic transplant with non-sibling donors at Stanford Lucile Packard Children’s Hospital.
	Principal Investigator:	[...***...]
	Effective Date:	September 1, 2020
	End Date:	August 30, 2023
	Contribution:	$900,000
	Payment Schedule:	See Exhibit B

 

The duly
authorized party representatives execute this Agreement, including all its terms and conditions.

 

	THE BOARD OF TRUSTEES OF
    THE LELAND STANFORD JUNIOR UNIVERSITY	 	JASPER THERAPEUTICS, INC.
	 	 	 
	Signature:	/s/ [...***...]	 	Signature:	/s/ William Lis
	 	 	 	 	 
	Name:	[...***...]	 	Name:	William Lis
	 	 	 	 	 
	Title:	[...***...]	 	Title:	Executive Chairman & Interim CEO
	 	 	 	 	 
	Date:	August 31, 2020	 	Date:	August 24, 2020

 

I acknowledge
that I have read this Agreement in its entirety and will use reasonable efforts to uphold my obligations and responsibilities under this
Agreement.

 

	PRINCIPAL INVESTIGATOR	 
	 	 
	Signature:	/s/ [...***...]	 
	 	 	 
	Name:	[...***...]	 
	 	 	 
	Title:	[...***...]	 
	 	 	 
	Date:	August 30, 2020	 

 

    PAGE 1 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

		1.	RESEARCH PROGRAM

 

		1.1	Performance
                                            of the Research Program. Stanford will perform the Research Program described in Exhibit A,
                                            which is incorporated and made part of this Agreement. Stanford is fully responsible for
                                            all costs and operations for this Research Program. Stanford and the Principal Investigator
                                            will use reasonable academic efforts to carry out the Research Program in a timely manner,
                                            in accordance with all applicable laws and regulations, and consistent with generally accepted
                                            academic standards and practices.

 

		1.2	Objectives.
                                            The performance of the Research Program is of mutual interest to Company and Stanford, and
                                            is consistent with the instructional, scholarship, and research objectives of Stanford as
                                            a nonprofit, tax-exempt, educational institution. This Agreement does not limit the freedom
                                            of individuals participating in this Research Program to engage in any other research. To
                                            the extent legally able, in the event that Principal Investigator pursues antibody conditioning
                                            clinical research funded by a for-profit entity outside of this Agreement in the Fanconi
                                            Anemia indication area during the Term, Principal Investigator will notify Company.

 

		1.3	Principal
                                            Investigator. The Principal Investigator will be responsible for performance and supervision
                                            of the Research Program. If for any reason the Principal Investigator cannot conduct or complete
                                            the Research Program, Stanford will appoint a successor, subject to Company’s prior
                                            written approval, which shall not unreasonably be withheld. The Research Program may not
                                            be subcontracted or otherwise delegated to any person outside of the Principal Investigator’s
                                            lab or supervision without Company written approval.

 

		1.4	Period
                                            of Performance. The Agreement is effective as of the Effective Date and terminates as
                                            of the End Date (“Term”).

 

		2.	PAYMENT

 

		2.1	Designation.
                                            This Agreement is designated as: Fixed Price. Company will pay Stanford the Contribution
                                            indicated on Page 1. Stanford may submit to Company a revised budget requesting additional
                                            funds if Company requests a change in the Research Program scope of work. Company will not
                                            be liable for any payment in excess of the Contribution except on Company’s written
                                            agreement. Stanford has the authority to rebudget costs at the reasonable discretion of the
                                            Principal Investigator, as long as the rebudgeting is consistent with the goals of the Research
                                            Program, and further provided that the Contribution shall be directed solely to the costs
                                            as described in the proposal unless Company otherwise expressly agrees in writing. Company
                                            is not entitled to [...***...] if all Research Program commitments have been met.
                                            Stanford will promptly provide its customary final financial report upon Company’s
                                            written request.

 

		2.2	Schedule.
                                            Company will pay Stanford in accord with the Payment Schedule on Page 1. Company will
                                            pay within 45 days of receipt of an undisputed invoice.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		2.3	Payment
                                            by Check. Payments are to be made payable to Stanford University and mailed to the Sponsored
                                            Receivables Lockbox address below.

 

		(A)	Electronic
                                            Copy. A PDF copy of the check should be forwarded to

                                            RFCS-receivables@list.stanford.edu to ensure that the check is received.

 

		(B)	Reference
                                            Information. Each check payment must reference: the Research Program title, invoice number,
                                            SPO number, and the name of the Principal Investigator.

 

		(C)	Payment
                                            Addresses. Company will send checks directly to the Sponsored Receivables Lockbox at
                                            one of the following addresses:

 

First
Class Mail

Stanford University Lockbox

P.O. Box 44253

San Francisco, CA 94144-4253

Certified or Overnight Mail

WFB Lockbox Services

Attn: Stanford University, Dept #44253

3440 Walnut Ave, Bldg A, Window H

Fremont, CA 94538-2210

Client Service Officer: [...***...]

[...***...]

 

		2.4	Payment
                                            by Wire Transfer. For EFT transfers via ACH or wire, please include in the message field
                                            what the payment is for such as the Research Program title, invoice number, SPO number, and
                                            the name of the Principal Investigator.

 

ACH/Wire
Transfer

Bank Name: Wells Fargo Bank

Address: 420 Montgomery Street, San Francisco, CA 94104-1207

Swift Code (Foreign): WFBIUS6S

Sort/Routing/ABA (Domestic): 121000248

Bank Account Number: [...***...]

Bank Contact: [...***...]

Remittance Advice Email: rfcs-receivables@lists.stanford.edu

 

		2.5	Stanford Payment
                                            Contact.

 

Sponsored
Receivables Management

485 Broadway, Third Floor

Redwood City, CA 94063-3136

RFCS-receivables@lists.stanford.edu

[...***...]

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		2.6	Company Payment
                                            Contact. Invoices to Company will be sent to:

 

Jasper
Therapeutics

2200 Bridge Parkway, Suite 102

Redwood City, CA 94065

[...***...]

650-549-1400

 

		2.7	Purchase
                                            Orders. To the extent any conflict arises between the terms of this Agreement and the
                                            terms of any purchase order issued by Company for payment, the terms of this Agreement shall
                                            govern.

 

		2.8	Taxes.
                                            Stanford is a nonprofit 501(c)(3) corporation. The parties acknowledge that each party
                                            is responsible for its own tax filings and payments, if any.

 

		3.	MATERIAL
                                            TRANSFER

 

		3.1	Supply
                                            of JSP191. Company will provide to Stanford upon receipt of required documentation, on
                                            a timely basis, without charge, the quantities of the monoclonal antibody, JSP191 (“JSP191”),
                                            and other materials as specified in Exhibit D necessary for Stanford’s use in
                                            the Research Program.

 

		3.2	Custody
                                            and Dispensing. Principal Investigator will maintain appropriate control of supplies
                                            of JSP191 and will not provide it to any third party without Company’s express prior
                                            written consent. Subject to Stanford’s compliance with the Research Program protocol,
                                            clinical samples containing JSP191 may be sent by Stanford to third parties solely for use
                                            in connection with the Research Program without Company’s express prior written consent.
                                            Except as may be expressly agreed to in writing by Company, Stanford and Principal Investigator
                                            will not use any JSP191 for any purpose other than performing the Research Program.

 

		3.3	Destruction
                                            of Expired or Unused Samples. At Company’s written direction, Stanford will destroy
                                            or return any unused supplies of JSP191 at the termination or expiration of this Agreement,
                                            unless otherwise agreed to in writing by the parties.

 

		3.4	Warranty.
                                            Stanford acknowledges that JSP191 is experimental in nature and provided “AS IS”
                                            and “WITH ALL FAULTS” and Company makes no, and hereby disclaims all, representations
                                            and warranties, express or implied, with respect to JSP191, including any and all warranties
                                            of accuracy, sufficiency, merchantability, fitness for a particular purpose, efficacy, and
                                            non-infringement of third party rights. Notwithstanding the foregoing, Company agrees that
                                            it will not supply to Stanford any JSP191 that Company knows was not produced or manufactured
                                            to the appropriate specifications as required by applicable law and regulations.

 

		3.5	Subject
                                            Injury. If a human subject suffers an adverse reaction, illness, or injury which, was
                                            directly caused by a manufacturing defect of JSP191, Company shall reimburse for the reasonable
                                            and necessary costs of diagnosis and treatment of any subject injury, including hospitalization,
                                            but only to the extent such expenses are not attributable to (i) Stanford’s or
                                            the Principal Investigator’s negligence to the extent attributable to Stanford’s
                                            failure to adhere to the protocol for the Phase 1 and 2 clinical trials, gross
                                            negligence or willful misconduct or (ii) the natural progression of an underlying pre-existing
                                            condition or events.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		4.	INTELLECTUAL PROPERTY

 

		4.1	Definitions.
                                            “Technology” means all tangible materials, works of authorship, software, information,
                                            clinical data, IND transfer, and results developed solely by Stanford in the performance
                                            of the Research Program and funded under this Agreement. “Inventions” mean inventions
                                            conceived and reduced to practice solely by Stanford in performance of the Research Program
                                            and funded under this Agreement. For clarity, Technology excludes Inventions and intellectual
                                            property rights associated with such Inventions.

 

		4.2	Ownership
                                            of Technology and Inventions. Stanford owns the entire right, title, and interest, in
                                            and to all Technology developed using Stanford facilities and by Stanford personnel under
                                            this Agreement (“Stanford Technology”). Stanford owns the entire right, title,
                                            and interest, in and to all Inventions developed using Stanford facilities and by Stanford
                                            personnel under this Agreement (“Stanford Inventions”).

 

		4.3	Patentable
                                            Inventions. Stanford may file patent applications covering Stanford Inventions (“Stanford
                                            Patents”) at its own discretion and expense. Stanford will promptly provide Company
                                            with a disclosure of Stanford Inventions after a formal invention disclosure is received
                                            by Stanford’s Office of Technology Licensing (“Disclosure”). Company agrees
                                            to hold such disclosure on a confidential basis as long as it remains Confidential Information
                                            as defined in Section 6.2. To the extent legally able to do so, Stanford grants Company
                                            an exclusive option to license exclusively, Stanford’s rights in any Stanford Patents.
                                            Company will have [...***...] days from its receipt of a Disclosure from OTL
                                            (“Patent Option Period”) to evaluate the invention disclosure and/or the Stanford
                                            Patent in confidence to determine whether it would like to take a field-limited license (for
                                            the use of JSP191) to Stanford’s rights in such Stanford Patent. If Company elects
                                            to license Stanford Patents pursuant to this Section 4.3, the parties will have [...***...] days
                                            to negotiate a commercial license on commercially reasonable terms provided that during such
                                            negotiation and evaluation period: (a) Company agrees to reimburse Stanford for all
                                            out-of-pocket expenses incurred by Stanford for any patent filing, prosecution and maintenance
                                            in the United States and any foreign country elected, and (b) Company shall have the
                                            opportunity to review and comment on any such patent application(s) and the prosecution and
                                            maintenance of such patent rights and Stanford agrees to in good faith consider any such
                                            Company comments. For clarity, the clinical milestone payments set forth in Exhibit C
                                            do not apply to any license negotiated pursuant to this Section 4.3 or any other license
                                            related to Stanford Inventions. If Stanford and Company fail to complete license negotiations
                                            within the period specified in this Paragraph 4.3, Stanford shall have no further obligations
                                            of any kind to license Stanford Patents to Company.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		4.4	Exclusive
                                            Option. To the extent legally able to do, Stanford grants Company an exclusive option
                                            to license exclusively, Stanford’s rights in Stanford Technology (“Technology
                                            Option”) in the field of commercialization of JSP191. After Stanford has collected
                                            the first [...***...] of data from [...***...] patients in the Phase 1
                                            /2 trial or the number of patients that Stanford has treated to date with the available funding
                                            (with minimum of [...***...] patients), Stanford shall share such patient data
                                            with Company on a confidential basis (“Patient Data”). Within [...***...] months
                                            of the receipt of Patient Data, Company shall notify Stanford’s Office of Technology
                                            Licensing whether it intends to exercise the Option (“Technology Election Period”).
                                            Any such license will include diligence milestone terms, retained rights and other terms
                                            that are standard in an exclusive license. As consideration for the exclusive license to
                                            Stanford Technology, Stanford will receive clinical milestone payments on a schedule set
                                            forth in Exhibit C.

 

		4.5	Negotiation
                                            Period and Non-Election. If Company does not provide written notice of election to Stanford
                                            within the Election Period, Stanford has no further license obligations to Company. If Stanford
                                            and Company fail to complete license negotiations within [...***...] after written
                                            election (“Negotiation Period”), Stanford has no further obligations of any kind
                                            to license Stanford Technology to Company.

 

		4.6	Assignment.
                                            Stanford represents that all of its employees, students, and consultants who participate
                                            in the Research Program will be obligated to assign to Stanford all their rights in patentable
                                            or copyrightable Technology.

 

		4.7	Expendables
                                            and other equipment. Stanford owns all expendables and equipment purchased or fabricated
                                            to perform the Research Program.

 

		4.8	Other
                                            Intellectual Property. For the avoidance of doubt, all intellectual property developed
                                            outside of this Agreement shall remain the property of its owner. Except as explicitly provided
                                            in this Agreement, neither party receives any right to the other’s intellectual property
                                            developed outside of this Agreement.

 

		5.	REPORTS
                                            AND DATA

 

		5.1	Reports.
                                            Within [...***...] of the occurrence of any Adverse Event (as defined by applicable
                                            FDA regulations) the Principal Investigator shall report each Adverse Event related to JSP191
                                            or that otherwise occurs during the trials to the Company and provide reasonable assistance
                                            in any needed investigation(s) arising from such a report. The Principal Investigator will
                                            provide a preliminary report summarizing key safety and efficacy parameters after [...***...]
                                            of data have been collected on each of the first [...***...] patients. The
                                            Principal Investigator will provide a final report to Company within [...***...]
                                            of the End Date. The report will summarize the Research Program findings.

 

		5.2	Human
                                            Subjects Data. Stanford will provide Company data generated from human subjects by Stanford
                                            under this Agreement and any Phase 1 /2 clinical trial (“Human Subjects Data”).

 

		5.3	De-identification.
                                            All individually identifiable health information has been removed from Human Subjects Data.
                                            Human Subjects Data does not include “Protected Health Information” (“PHI”) as
                                            defined in 45 C.F.R. Section 160.103. Should Company inadvertently receive Human
                                            Subjects Data that has not been completely de-identified, or otherwise identifies a subject,
                                            Company shall notify Stanford immediately and shall follow Stanford’s written instructions
                                            for handling, which may include return or destruction of the identifiable information.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		5.4	Restrictions.
                                            Company will use the Human Subjects Data only for evaluation purposes related to this Agreement.
                                            The Company may provide Human Subjects Data to any regulatory authority for JSP191 or any
                                            third party to the extent necessary or desirable for safety related reporting. If Company
                                            desires to use or disclose the Human Subjects Data for any other purpose, Company must have
                                            executed the Exclusive Option or obtain prior written consent from Stanford.

 

		5.5	No
                                            Further Access or Transfer. Except for contractors and consultants and other third parties
                                            performing services for or on behalf of the Company and under obligations of confidentiality,
                                            and other than safety data which may be necessary or desirable to be disclosed to third parties
                                            for safety purposes, Company will not disclose or transfer the Human Subjects Data to any
                                            third party without prior written consent from Stanford unless the Company has executed the
                                            Exclusive Option pursuant to Section 3.4 or such information has been published or otherwise
                                            publicly disclosed by Stanford.

 

		5.6	Confidentiality.
                                            Notwithstanding anything to the contrary, Human Subjects Data shall be Stanford Confidential
                                            Information, regardless whether it is labeled as such.

 

		5.7	No
                                            Re-identification or Contact. Company acknowledges and agrees that: (1) Company
                                            will not attempt to re-identify or otherwise determine the identity of any Human Subject
                                            or other individual who may be the subject of the Human Subjects Data, and will not attempt
                                            to contact any such individuals for any purpose, and (2) considerable harm may ensue
                                            if Company (or any recipient of the Human Subjects Data) intentionally or negligently allows
                                            the disclosure, release or publication of information that identifies such individuals. In
                                            the event Company becomes aware that Company inadvertently receives identifiable information
                                            or otherwise identifies an individual, Company will promptly notify Stanford and follow Stanford’s
                                            reasonable written instructions, which may include return or destruction of the identifiable
                                            information.

 

		5.8	Data
                                            Security. Company will follow data security best practices for receipt, storage and use
                                            of Human Subjects Data, and specifically agrees that it will:

 

		(1)	implement
                                            and maintain commercially reasonable and appropriate physical, technical, and organizational
                                            security measures designed to protect the Human Subjects Data against accidental or unlawful
                                            loss, destruction, alteration, unauthorized disclosure or access, and all other unlawful
                                            forms of collection or use, consistent with Stanford’s Minimum Security Standards set
                                            forth at minsec.stanford.edu;

 

		(2)	assist
                                            Stanford as reasonably requested to respond to requests from government authorities, data
                                            subjects, or others to provide information (including details of the activities performed
                                            by Company) related to Company’s processing of the Human Subjects Data;

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		(3)	Only
                                            process the Human Subjects Data on its systems or facilities to the extent necessary to perform
                                            its obligations contemplated by the parties under this Agreement.

	 	 	 

		(4)	maintain
                                            reasonably accurate and up-to-date logs and records of the processing of the Human Subjects
                                            Data;

	 	 	 

		(5)	not
                                            lease, sell, distribute, or otherwise encumber the Human Subjects Data for any purpose; and
	 	 	 

		(6)	promptly
                                            notify Stanford of any investigation, litigation, arbitrated matter, or other dispute relating
                                            to Company’s security or privacy practices as it may directly and materially relate
                                            to Company’s performance of its obligations to Stanford under this Agreement.

 

		5.9	Notice
                                            of Data Incidents. Company shall without undue delay (within [...***...]
                                            of confirmation) notify Stanford of becoming aware that any of the following occur:

 

		(1)	any
                                            unmitigated, material security vulnerability, or weakness of which Company has actual knowledge,
                                            in either Stanford’s or the Company’s systems or networks that has compromised
                                            the Human Subjects Data;
	 	 	 

		(2)	any
                                            successful, imminent or significant threat of unauthorized access, use, disclosure, breach,
                                            modification, theft, loss, corruption or destruction of information, or any interference
                                            with information technology or system operations, that negatively impacts the confidentiality,
                                            integrity, and availability of the Human Subjects Data; or
	 	 	 

		(3)	any
                                            known failure or inability to maintain material compliance with requirements of this Agreement
                                            or any applicable law.

 

		6.	PUBLICATION

 

		6.1	Objective.
                                            The basic objective of research activities at Stanford is the generation of new knowledge
                                            and its expeditious dissemination for the public’s benefit. Each party will cooperate
                                            with the other in meeting this objective.

 

		6.2	Confidential
                                            Information. “Confidential Information” means, confidential, scientific,
                                            business or financial information that is provided in written form and clearly marked as
                                            confidential that is disclosed by one party to the other, provided that such information:

 

		(A)	is
                                            not publicly known or available from other sources who are not under a confidentiality obligation
                                            to the source of the information;

 

		(B)	has
                                            not been made available by its owners to others without a confidentiality obligation;

 

		(C)	is
                                            not already known by or available to the receiving party without a confidentiality obligation;

 

		(D)	is
                                            not independently developed by the receiving party; or

 

		(E)	does
                                            not relate to potential hazards or cautionary warnings associated with the performance of
                                            the Research Program, and is not required to be disclosed under operation of law.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		6.3	Non-Use
                                            and Non-Disclosure Obligations. In connection with this Agreement, each party may disclose
                                            or make Confidential Information available to the other party. As a condition to being provided
                                            with any disclosure or access to the other party’s Confidential Information, the receiving
                                            party shall:

 

		(A)	Hold
                                            all of the other party’s Confidential Information in strict confidence, not use it
                                            any way, commercial or otherwise, except in performing its obligations or exercising its
                                            rights under and in accordance with this Agreement.

 

		(B)	Safeguard
                                            the Confidential information from unauthorized use, access, or disclosure, using a reasonable
                                            degree of care.

 

The
receiving party’s obligations of non-use and non-disclosure for Confidential Information shall remain in force for [...***...]
after the date of disclosure.

 

		6.4	Review.
                                            As a matter of basic academic policy, Stanford retains the right at its discretion to publish
                                            freely the results of the Research Program. Stanford will provide Company with a copy of
                                            any manuscript or other publication at the time it is submitted for publication. Company
                                            may review the manuscript or publication:

 

		(A)	To
                                            ascertain whether Company’s Confidential Information would be disclosed by the publication;

 

		(B)	To
                                            identify potentially patentable Technology so that appropriate steps may be taken to protect
                                            the Technology;

 

		(C)	To confirm
                                            that the privacy rights of individuals are adequately protected; and

 

		(D)	to
                                            ensure that the safety profile of JSP191 is reflective of the data (including Human Subjects
                                            Data) provided to Company.

 

		6.5	Comments.
                                            Company will provide comments, if any, within [...***...] of receiving the
                                            manuscript or publication (“Review Period”). Stanford may publish the manuscript
                                            or publication after the Review Period unless Company has requested the filing of a patent
                                            application. In this case, Stanford will delay publication for up to [...***...]
                                            for patent filing. If Company does not provide any comments within the Review Period, then
                                            Stanford may publish the Results without further modification.

 

		6.6	Acknowledgment.
                                            Stanford will acknowledge Company in publications for its sponsorship of the Research Program.

 

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	SPONSORED
    RESEARCH AGREEMENT

 

		7.	EARLY TERMINATION

 

		7.1	Termination
                                            by either party. Either party may terminate this Agreement upon 60 days’
                                            written notice. If this Agreement is terminated before the End Date by Company, Company will
                                            pay the reasonable cost incurred by Stanford in winding down and terminating the Research
                                            Program, including the cost of the Research Program during the wind-down period and all related
                                            costs and non-cancelable commitments made before termination; provided that in no event shall
                                            Company’s total obligation pursuant to this Section, when combined with any other amounts
                                            paid by Company pursuant to this Agreement, exceed the Contribution amount. If Company terminates
                                            this Agreement without cause, Jasper shall not be granted any licenses under this Agreement
                                            to commercially exploit any Human Subjects Data, Stanford Inventions, Stanford Technology,
                                            and any results received from Stanford as a result of its performance of this Agreement,
                                            provided that Jasper will at all times both during and after the term of this Agreement have
                                            and retain the right to submit safety data (including applicable Human Subjects Data) to
                                            regulatory authorities and to any other third party to the extent necessary or desirable
                                            for safety related reporting. After termination, Stanford will submit a final report of all
                                            costs incurred and all funds received under this Agreement. The report will be accompanied
                                            by a check for funds remaining after allowable costs and non-cancelable commitments have
                                            been paid, provided the funds exceed $100. In no case shall the total funds paid to Stanford
                                            by the Company due to termination plus any payments made or due under Exhibit B exceed
                                            the Contribution amount.

 

		7.2	Termination
                                            for failure to pay. Stanford reserves the right to cease performance and terminate this
                                            Agreement immediately if Company fails to pay any undisputed invoice within 60 days
                                            of receipt.

 

		8.	NOTICE

 

		8.1	All
                                            Notices. All notices under this Agreement are deemed fully given when written, addressed,
                                            and sent as follows:

 

All
notices to Company are mailed or emailed to:

Jasper Therapeutics, Inc.

2200 Bridge Parkway, Suite 102

Redwood City, 94065

[...***...]

cc: [...***...]

650-549-1400

 

All
notices to Stanford are e-mailed or mailed to:

[...***...]

415 Broadway Street

2nd Floor, MC 8854

Redwood City, CA 94063

ico@stanford.edu

cc: Principal Investigator

 

		8.2	Either party
                                            will provide written notice to the other of a change in address.

 

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    RESEARCH AGREEMENT

 

		9.	PUBLICITY

 

Company
will not use: (i) Stanford’s name or trademarks, (ii) the name or trademarks of any organization related to Stanford,
or (iii) the name of any Stanford faculty member, employee, student or volunteer without the prior written consent of Stanford.
Permission may be withheld at Stanford’s sole discretion. This prohibition includes, but is not limited to, use in press releases,
advertising, marketing materials, other promotional materials, presentations, case studies, reports, websites, software application or
interfaces, and other electronic media. Stanford acknowledges that Company intends to issue a press release regarding the Research Program
and Stanford agrees to not unreasonably withhold its consent to any such press release.

 

		10.	INDEMNITY

 

Each
party will indemnify, defend, and hold harmless the other party and its trustees, directors, officers, employees, agents, volunteers,
subcontractors, and students (“Indemnitees”) from any liability, damage, loss, or expense (including reasonable attorneys’
fees and expenses of litigation) incurred by or imposed upon the Indemnitees or any one of them in connection with claims, suits, actions,
demands, or judgments arising out of or connected with: (a) the negligence, gross negligence or willful misconduct of the indemnifying
party, except to the extent that the liability or claim arises out of or relates to the negligence or willful misconduct of an Indemnitee.
Notwithstanding the foregoing, Company will indemnify, defend, and hold harmless Stanford and its Indemnitees from any liability, damage,
loss, or expense (including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon the Stanford Indemnitees
or any one of them in connection with claims, suits, actions, demands, or judgements arising out of or connected with Company’s
use of results of the Research Program, any intellectual property rights granted herein, and Company’s use of Human Subjects Data
and any Reports, except to the extent that the liability or claim arises out of or relates to a Stanford Indemnitee’s negligence
to the extent attributable to Stanford Indemnitee’s failure to adhere to the protocol for the Phase 1 and 2 clinical
trials, gross negligence or willful misconduct. Each party will promptly notify the indemnifying party of any claim and will cooperate
in the defense of the claim. This indemnity will not be deemed excess coverage to any insurance or self-insurance Stanford may have covering
a claim. Company’s indemnity will not be limited by the amount of Company’s insurance.

 

		11.	INSURANCE

 

		11.1	Stanford
                                            Coverage. Stanford will maintain worker’s compensation insurance or other coverage
                                            on its employees as required by California law, and will self-insure or maintain insurance
                                            covering its liability under this Agreement, which Stanford represents will be sufficient
                                            to cover its maximum liability under this Agreement.

 

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    RESEARCH AGREEMENT

 

		11.2	Company
                                            Coverage. Company will procure and maintain during the term of this Agreement comprehensive
                                            liability and product liability insurance to the full amount of Company insurance limits,
                                            but in no event less than $[...***...] per occurrence, with a reputable and financially
                                            secure insurance carrier. The insurance will include The Board of Trustees of the Leland
                                            Stanford Junior University, its trustees, directors, officers, employees, agents, subcontractors,
                                            volunteers and students as additional insureds with respect to this Agreement. This insurance
                                            will be written to cover claims incurred, discovered, manifested, or made during or after
                                            the expiration of this Agreement.

 

		(A)	Certificate.
                                            Before executing the Agreement, Company will provide Stanford with a Certificate of Insurance
                                            evidencing primary coverage and requiring [...***...] days’ prior
                                            written notice to Stanford of cancellation or material change. Company will advise Stanford
                                            in writing that it maintains excess liability coverage (following form) over primary insurance
                                            for at least the minimum limits set forth in Section 11.2. Conditions of the Certificate
                                            of Insurance will be subject to approval in advance by Stanford’s Office of Risk Management.

 

		(B)	Primary
                                            Coverage. Company’s insurance will be primary coverage. Stanford’s insurance
                                            or self-insurance will be excess and noncontributory.

 

		(C)	Continued
                                            Coverage. If Company’s insurance is written on a claims-made basis, as opposed
                                            to an occurrence basis, Company will purchase the coverage necessary to ensure continued
                                            and uninterrupted coverage of all claims, including those made after the policy expires or
                                            is terminated.

 

		11.3	No
                                            Expanded Liability. For the avoidance and doubt, and notwithstanding anything in this
                                            Section 11 to the contrary, the obligations of each party to have, procure, or maintain
                                            insurance shall not expand the scope of a party’s responsibilities under this Agreement
                                            or expand the scope of or increase the amount of a party’s liability under this Agreement.

 

		12.	HUMAN
                                            SUBJECTS RESEARCH AND PROTECTION

 

		12.1	Human
                                            Research Protection Program. Company acknowledges that Stanford has a human research
                                            protection program (“HRPP”) established in accordance with the principles and
                                            standards of the Association for the Accreditation of Human Research Protection Programs
                                            that is applicable to all research involving human subjects, including the Research Program,
                                            that includes: (i) submittal for prospective and continuing review to Stanford’s
                                            institutional review board (“IRB”) under the federal regulations governing
                                            the protection of human research subjects, (ii) obtaining consent from human research
                                            subjects as specified in those regulations, (iii) conducting the research in accordance
                                            with ethical standards such as the Belmont Report.

 

		12.2	Communication
                                            Concerning Certain Events Affecting Research Participants. In furtherance of Stanford’s
                                            HRPP, Company agrees:

 

		(A)	to
                                            notify promptly the Principal Investigator and/ or the Stanford IRB directly, of (i) non-compliance
                                            with the Research Program in Exhibit A or applicable laws, particularly those laws related
                                            to human research subjects, that would reasonably be expected to affect the safety or welfare
                                            of participating subjects; (ii) serious adverse events that have been reported to the
                                            FDA or other governmental agency in relation to the Research Program at Stanford or any other
                                            site that would reasonably be expected to affect the safety or welfare of participating subjects;
                                            and (iii) unanticipated problems in the Research Program at Stanford or any other site
                                            that that would reasonably be expected to affect the safety or welfare of participating subjects;
                                            and,

 

    PAGE 12 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

		(B)	to
                                            develop a plan of communication to subjects with Stanford’s Principal Investigator
                                            that is acceptable to Stanford’s IRB when new findings or results of the Research Program
                                            would reasonably be expected to affect the safety or welfare of participating subjects or
                                            directly affect their current or future safety or medical care.

 

		12.3	Data
                                            and Safety Monitoring Reports. Each party will provide the other party with any data
                                            and safety monitoring reports related to the Research Program that would reasonably be expected
                                            to affect the safety and welfare of current or former Research Program participants. During
                                            the Research Program and for at least [...***...] following the completion of the
                                            Research Program at all sites, each party will provide the other party and Principal Investigator
                                            with a written report of any routine monitoring findings in site monitoring reports and data
                                            safety monitoring committee reports to the extent such findings or reports would reasonably
                                            be expected to affect the safety and welfare of current or former Research Program participants.

 

		13.	NO
                                            WARRANTIES

 

		13.1	No
                                            Guarantee. Company acknowledges that the Research Program is a scientific undertaking
                                            and, consequently, Stanford will not guarantee any particular outcome or specific yield.

 

		13.2	Disclaimer
                                            of Warranties. Except as otherwise stated in this Agreement, each party agrees the rights
                                            granted in this Agreement are AS IS and WITH ALL FAULTS. Each party makes no representations
                                            and extends no warranties of any kind, either express or implied. Among other things, each
                                            party disclaims any express or implied warranty:

 

		(A)	of
                                            merchantability, of fitness for a particular purpose,

 

		(B)	of
                                            non-infringement or,

 

		(C)	arising
                                            out of any course of dealing.

 

		14.	GENERAL
                                            PROVISIONS

 

		14.1	Laws
                                            and Regulations. Both parties are subject to all local, state and federal laws and regulations
                                            applicable to its obligations under this Agreement.

 

		14.2	Export
                                            Control. Both parties agree to adhere to U.S. export laws and regulations, where
                                            applicable. Company agrees that it will not disclose Confidential Information that contains
                                            technology or technical data identified on any U.S. export control list, including the
                                            Commerce Control List (“CCL”) at 15 C.F.R. 774 and the U.S. Munitions
                                            List (“USML”) at 22 C.F.R. 121. Proposed disclosures of Confidential Information
                                            by Company that include technology or technical data other than that classified as EAR99
                                            will be negotiated pursuant to a separate agreement with Stanford.

 

    PAGE 13 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

		14.3	Animal
                                            Studies. Stanford does not conduct animal studies that are intended to support applications
                                            for research or marketing permits for FDA-regulated products (as described in Title 21,
                                            Code of Federal Regulations (CFR) Part 58-Good Laboratory Practice (GLP) for
                                            Nonclinical Laboratory Studies).

 

		14.4	Dispute
                                            Resolution. If any dispute arises between the parties in connection with payments due
                                            under this Agreement that cannot be resolved by mutual agreement after meetings between the
                                            parties, it will be finally settled under the JAMS Comprehensive Arbitration Rules and Procedures,
                                            by one or more arbitrators appointed in accordance with the Rules. Arbitration will be held
                                            in Palo Alto, California, or another mutually agreed upon location.

 

		14.5	Assignment.
                                            Neither party may assign this Agreement without prior written consent of the other party,
                                            except that Company shall be permitted to assign this Agreement without Stanford’s
                                            consent to any of Company’s affiliates or in connection with the acquisition of Company
                                            by merger, sale of all (or substantially all) of Company’s assets, or other sale of
                                            equity or reorganization resulting in a change of 50% or more in the ownership of Company’s
                                            stock, provided the assignee or successor has agreed to assume all of the obligations of
                                            Company hereunder. In the event of such assignment, Company or the assignee shall promptly
                                            notify Stanford.

 

		14.6	Severability.
                                            If any provision of this Agreement becomes or is declared illegal, invalid, or unenforceable,
                                            the provision will be divisible from this Agreement and deemed to be deleted from this Agreement.
                                            If the deletion substantially alters the basis of this Agreement, the parties will negotiate
                                            in good faith to amend the provisions of this Agreement to give effect to the original intent
                                            of the parties.

 

		14.7	Independent
                                            Contractors. Stanford and Company are independent contractors and neither is an agent,
                                            joint venturer, or partner of the other.

 

		14.8	Governing
                                            Law. This Agreement is governed by the laws of the State of California, without regard
                                            to its conflict of laws doctrine. Any legal action involving this Agreement or the Research
                                            Program will be adjudicated in the State of California.

 

		14.9	Non-Discrimination.
                                            Stanford shall follow its normal employment policies, which prohibit discrimination against
                                            any employee or applicant for employment on the basis of race, color, creed, religion, national
                                            origin, sexual preference, marital status, age, sex, or handicap (except where bona fide
                                            occupational qualification so requires), with respect to this Agreement. Qualified individuals
                                            will not be denied the opportunity to contribute to the work conducted at Stanford under
                                            this Agreement on the basis of citizenship.

 

		14.10	Force
                                            Majeure. Stanford is not liable for any failure to perform as required by this Agreement
                                            if the failure to perform is caused by circumstances reasonably beyond Stanford’s control,
                                            such as labor disturbances or labor disputes of any kind, accidents, failure of any governmental
                                            approval required for full performance, civil disorders or commotions, acts of aggression,
                                            acts of God, energy or other conservation measures, explosions, failure of utilities, mechanical
                                            breakdowns, material shortages, disease, theft, pandemics, or other occurrences.

 

    PAGE 14 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

		14.11	Prevailing
                                            Terms. In the event of any inconsistency between the terms of this Agreement and the
                                            documents referenced or incorporated into this Agreement, the terms of this Agreement prevail.

 

		14.12	Entire
                                            Agreement. This Agreement represents the entire agreement and understanding between the
                                            parties with respect to its subject matter. It supersedes all prior or contemporaneous discussions,
                                            representations, or agreements, whether written or oral, of the parties regarding its subject
                                            matter.

 

		14.13	Amendments
                                            or Changes. Amendments or changes to this Agreement must be in writing and signed by
                                            the parties’ authorized representatives.

 

		14.14	Electronic
                                            Signatures. The parties to this Agreement agree that a copy of the original signature
                                            (including an electronic copy) may be used for any and all purposes for which the original
                                            signature may have been used. The parties further waive any right to challenge the admissibility
                                            or authenticity of this Agreement in a court of law based solely on the absence of an original
                                            signature.

 

		14.15	Counterparts.
                                            This Agreement and any amendment to it may be executed in counterparts and all of these counterparts
                                            together shall be deemed to constitute one and the same agreement.

 

[Signatures
on front page]

 

    PAGE 15 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

Exhibit A

Research Program Description

 

Fanconi
Anemia clinical trial execution: Stanford shall financially sponsor and execute a Phase 1/2 clinical trial utilizing Jasper’s
antibody candidate, JSP191, to treat Fanconi Anemia patients in Bone Marrow Failure requiring allogeneic transplant with non-sibling
donors at Stanford Lucile Packard Children’s Hospital.

 

Roles:

 

Sponsor:
[...***...]

 

PI:
[...***...]

 

IND/Data/IP
rights: Stanford CDCM will hold the IND for the Phase 1 / 2 trial as well as its rights to all data and IP generated until licensed
and transferred to Jasper under the appropriate option exercise at the end of the clinical trial.

 

Clinical
trial information:

 

The CDCM
will provide the following:

 

		●	Protocol
                                            development

 

		●	IND
                                            preparation and submission

 

		●	Patient
                                            relations. Includes engagement with patient organizations and education to community regarding
                                            treatment options (including research related treatments, as appropriate.

 

		●	Project
                                            management from planning stage through close of the clinical trial

 

		o	Operational
                                            oversight

 

		o	Financial
                                            oversight

 

		o	Communications
                                            (including steering committee and team meetings)

 

		o	Safety
                                            data receipt, processing and reporting to FDA, Jasper and IRB

 

		o	Generation
                                            of IND Annual Report to FDA

 

    PAGE 16 OF 19

     

    

 

SPONSORED
RESEARCH AGREEMENT

 

 

Exhibit B

Payment Schedule for Contribution

 

	Milestone	 	Payment Amount

(US Dollars)	 
	Submission of [...***...] to the FDA	 	$	[...***...]	 
	Enrollment of [...***...]	 	$	[...***...]	 
	[...***...]	 	$	[...***...]	 

 

Stanford
shall issue invoices to Company upon completion of each milestone.

 

    PAGE 17 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

Exhibit C

Milestone Payments for Exclusive License

 

	Milestone	 	 	Payment
                                            Amount (US dollars)	 
	[...***...]	 	$	[...***...]	 
	[...***...]	 	$	[...***...]	 
	[...***...]	 	$	[...***...]	 
	[...***...]	 	$	[...***...]	 
	[...***...]	 	$	[...***...]	 

 

 

    PAGE 18 OF 19

     

    

 

	SPONSORED
    RESEARCH AGREEMENT

 

Exhibit D

Jasper Provided Items

 

JSP191
Drug Product

 

JSP191
Investigator’s Brochure

 

JSP191
Storage and Handling Instructions

 

    PAGE 19 OF 19Exhibit
10.23

 

***Certain
identified information has been omitted from this exhibit because it is both (i) not material and (ii) would likely cause competitive
harm to the Registrant if publicly disclosed. Such omitted information is indicated by brackets (“[...***...]”) in this exhibit.
***

 

IND
SPONSOR: JASPER THERAPEUTICS, INC.

 

CLINICAL
TRIAL AGREEMENT

 

For
Clinical Trials Conducted at the National Institutes of Health Clinical Center

 

BETWEEN

 

THE
NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES

 

(NIAID)

 

AND

 

JASPER
THERAPEUTICS, INC.

 

NIH
Protocol # [...***...]

 

Jasper
Therapeutics Protocol #s: JAS-BMT-CP-001 & -002 (-002 will be the amended version of 001) A Phase 1 Study to Evaluate the
Safety and Tolerability of Tandemly-purified Allogeneic CD34+CD90+ HSC Administered Following Conditioning with AMG 191 to Achieve
Engraftment and Immune Reconstitution in Patients with SCID (or as amended in protocol version -002)

 

Version 0.5
(January 2, 2020)

 

     

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

The
National Institute of Allergy and Infectious Diseases (NIAID), an institute of the National Institutes of Health (NIH), which is part
of the United States Government Department of Health and Human Services (HHS), as represented by the Division of Intramural Research
(DIR) and Jasper Therapeutics, Inc. (“Company”), located at 2200 Bridge Parkway, Ste. 102, Redwood City, CA 94065,
(individually referred to as the “Party” and collectively referred to as the “Parties”), have agreed to cooperate
in the conduct of a clinical trial at the NIH Clinical Center, in Bethesda, Maryland, designated as Protocol No. JAS-BMT-CP-001 &
-002 for JSP-191, the title of which is “A Phase 1 Study to Evaluate the Safety and Tolerability of Tandemly-purified
Allogeneic CD34+CD90+ HSC Administered Following Conditioning with AMG 191 to Achieve Engraftment and Immune Reconstitution in Patients
with SCID.”

 

This
Agreement sets forth the terms and conditions under which this protocol will be conducted and the clinical trial will be managed.

 

Company
and NIAID agree as follows:

 

		1.	DEFINITIONS

 

The
terms listed in this Section have the meanings indicated throughout this Agreement. To the extent a definition of a term as provided
in this Section is inconsistent with a corresponding definition in the applicable sections of either the United States Code (U.S.C.)
or the Code of Federal Regulations (C.F.R.), the definition in the U.S.C. or C.F.R. will control.

 

“Adverse
Event” (AE) means any untoward medical occurrence in a Human Subject to whom the Test Article has been administered
or the definition as stated in the Protocol. An adverse event does not necessarily have a causal relationship with the Test Article,
that is, it can be any unfavorable and unintended sign (including an abnormal laboratory finding), symptom, or disease temporally associated
with the use of the Test Article, whether or not it is related to it. Adverse Event is further defined in ICH E6 section 1.2 and 21
C.F.R. 312.32.

 

“Agreement”
means this Clinical Trial Agreement or “CTA”, all executed amendments and supplements to this Agreement, and all schedules,
appendices, and exhibits to this Agreement.

 

“Case
Report Form” (CRF) means the data collection form(s) to be completed for each Human Subject participating in the
Clinical Trial. For clarity, an “eCRF” is an electronically reported version of a CRF.

 

“Certificate
of Confidentiality” (CoC) means a certificate issued by NIH pursuant to Section 301(d) of the Public Health
Service Act (42 U.S.C. 241(d)), that protects the privacy of Human Subjects enrolled in the Protocol. With limited exceptions defined
in 42 U.S.C. 241(d), the CoC protects from disclosure names or any information, documents or biospecimens containing ISI collected
under the Protocol.

 

“Clinical
Research Site” means the NIH Clinical Center, their contractors, and Investigators at Bethesda, Maryland, USA where the Clinical
Trial will be conducted in strict accordance with the Protocol.

 

“Clinical
Study Report” in accordance with ICH E6 Section 1.13, is a written description of a Clinical Trial in which the clinical
and statistical description, presentations, and analyses are fully integrated into a single report. The Clinical Study Report contains
information on results including reactogenicity, adverse events, immunogenicity and other clinical or laboratory observations made with
respect to the intervention employed in conducting the trial. A detailed description of the contents of a Clinical Trial Report is found
in ICH E3 “Structure and Content of Clinical Study Reports.”

 

    	NIAID Sophia No. 2020-0924	Page 2 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

“Clinical
Trial” is defined by the NIH as a research study1 in which one or more human subjects2 are prospectively
assigned3 to one or more interventions4 (which may include placebo or other control) to evaluate the effects of
those interventions on health-related biomedical or behavioral outcomes.5 In this Agreement, Clinical Trial means the Clinical
Trial for the Protocol.

 

1See
Revised Common Rule definition of research at 45 CFR 46.102(l).

 

2See
Revised Common Rule definition of human subject at 45 CFR 46.102(e).

 

3The
term “prospectively assigned” refers to a pre-defined process (e.g., randomization) specified in an approved protocol
that stipulates the assignment of research subjects (individually or in clusters) to one or more arms (e.g., intervention, placebo, or
other control) of a clinical trial.

 

4An
intervention is defined as a manipulation of the subject or subject’s environment for the purpose of modifying one or more
health-related biomedical or behavioral processes and/or endpoints.

 

5Health-related
biomedical or behavioral outcome is defined as the pre-specified goal(s) or condition(s) that reflect the effect of one or more interventions
on human subjects’ biomedical or behavioral status or quality of life.) (See http://grants.nih.gov/grants/guide/notice-files/NOT-OD-15-015.html
for more information.)

 

“Completion
of the Clinical Trial” the Clinical Trial is complete upon Company’s receipt of all eCRFs, review of Clinical Trial documentation,
completion and resolution of all data queries, and close-out audits. For purposes of clarity, a completed eCRF is one that contains all
complete, verified information in accordance with the Protocol, has been included in the eCRF “electronic database”, which
is then reviewed and electronically signed by Principal Investigator prior to Clinical Trial close-out.

 

“Confidential
Information” means non-public confidential scientific, proprietary, business, or financial information of a Party provided
that Confidential Information does not include:

 

		(a)	information
                                            that is within the public domain prior to the time of the disclosure by the disclosing Party
                                            to the receiving Party or thereafter becomes within the public domain other than as a result
                                            of disclosure by the receiving Party or any of its representatives in violation of this Agreement;
	 	 	 

		(b)	information
                                            that was, on or before the date of disclosure in the possession of the receiving Party;
	 	 	 

		(c)	information
                                            that is acquired by the receiving Party from a third party not under an obligation of confidentiality;
	 	 	 

		(d)	information
                                            that is hereafter independently developed by the receiving Party, without use of or reference
                                            to the Confidential Information of the disclosing Party;
	 	 	 

		(e)	information
                                            that the disclosing Party expressly authorizes the receiving Party to disclose.
	 	 	 

		(f)	information
                                            that is reasonably required by scientific standards for publication of the results of the
                                            Clinical Trial (including Clinical Trial methods and/or data) or any information that is
                                            necessary for other researchers to verify the results of the Clinical Trial; or
	 	 	 

		(g)	information
                                            that relates to potential hazards or cautionary warnings associated with the production,
                                            handling, or use of the Test Article.

 

    	NIAID Sophia No. 2020-0924	Page 3 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

“Contract
Research Organization” (CRO) means an entity that assumes, as an independent contractor with Company one or more
of the obligations of a the Company hereunder, e.g., design of a protocol, selection or monitoring of investigations, evaluation of reports,
and preparation of materials to be submitted to the Food and Drug Administration. For purposes of this Agreement and the Clinical Trial,
Company has engaged [...***...], d/b/a [...***...] as CRO. References herein to “Company” shall be deemed
to include CRO as the context requires.

 

“Data
and Safety Monitoring Board (or Committee)” (DSMB or DSMC) is an independent group of experts that advises the Company
and the Investigators. The primary responsibilities of the DSMB are to: (i) to periodically review and evaluate the accumulated
data of the Clinical Trial for participant safety, Clinical Trial conduct and progress, and when appropriate, efficacy; and (ii) to
make recommendations to the Company concerning the continuation, modification, or termination of the Clinical Trial.

 

“Effective
Date” means the date of the last signature of the authorized representatives of the Parties executing this Agreement.

 

“Food
and Drug Administration” (FDA) means the U.S. Food and Drug Administration.

 

“Government”
means the federal government of the United States of America.

 

“Genome-Wide
Association Study” (GWAS) means any study of genetic variation across the entire human genome that is designed
to identify genetic associations with observable traits (such as blood pressure or weight), or the presence or absence of a disease or
condition.

 

“Human
Subject” as defined in 45 CFR 46 means a living individual about whom an investigator (whether professional or student)
conducting research (1) obtains information or biospecimens through intervention or interaction with the individual, and uses, studies,
or analyzes the information or biospecimens or (2) obtains, uses, analyzes, or generates identifiable private information or identifiable
biospecimens.

 

“Independent
Safety Monitor” (ISM) is a physician or other expert who is independent of a study and readily available to review
and recommend actions on adverse events and other safety issues.

 

“Identifiable,
Sensitive Information” (ISI) means, in accordance with the definition of 42 U.S.C. 241(d)(4), information
that is about an individual and that is gathered or used during the course of research as described in 42 U.S.C. 241(d)(1)(A) through
which an individual is identified, or that includes IPI, or for which there is at least a very small risk, as determined by current scientific
practices or statistical methods, that some combination of the information, a request for the information, and other available data sources
could be used to deduce the identity of an individual.

 

“Identifiable
Private Information” (IPI) means private information about a Human Subject from which the identity of the Human
Subject is or may readily be ascertained. Regulations defining and governing this information include 45 C.F.R. Part 46 and 21
C.F.R. Part 50.

 

    	NIAID Sophia No. 2020-0924	Page 4 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

“Informed
Consent Form” (ICF) means a signed and documented form in which each Human Subject, or his/her guardian, voluntarily
consents or confirms his or her willingness to participate in the Clinical Trial after having been informed of all aspects of the Clinical
Trial that are relevant to that Human Subject’s decision to participate. The Informed Consent Form must satisfy the requirements
of ICH E6, 45 C.F.R. Part 46 and 21 C.F.R. Part 50.

 

“Institutional
Review Board” (IRB) means, in accordance with 45 C.F.R. Part 46, Protection of Human Subjects (Revised
November 13, 2001) and 21 C.F.R. Part 56, Subpart C: IRB Functions and Operations (as amended June 18, 1991), and
other applicable regulations, an independent body comprising medical, scientific, and nonscientific members, whose responsibility is
to ensure the protection of the rights, safety, and well-being of the Human Subjects involved in the Clinical Trial. It may also be referred
to as an Independent Ethics Committee in accordance with ICH E6, Section 1.27.

 

“The
International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use” (ICH).
ICH refers to one or all of the following requirements used throughout this Agreement:

 

		(a)	ICH
                                            E2F: “Development Safety Update Report”, including the latest finalized revision,
                                            if any.
	 	 	 

		(b)	ICH
                                            E3: Structure and Content of Clinical Study Reports”, including the latest finalized
                                            revision, if any.
	 	 	 

		(c)	ICH
                                            E6: “Good Clinical Practice: Consolidated Guidance”, published in the Federal
                                            register (62 Federal Register 25692 (1997)), including the latest finalized revision.
                                            Also referred to as “FDA Good Clinical Practice Guidelines”.

 

“Invention”
means any invention or discovery that may or may not be patentable or otherwise protected under 35 U.S.C.

 

“Investigational
New Drug Application” (IND) is the Company’s request for authorization from FDA to administer the Test Article
to Human Subjects, filed in accordance with 21 C.F.R. Part 312.

 

“Investigator”
means, in accordance with 21 C.F.R. Part 312.3, the individual at the Clinical Research Site who will actually conducts the
Clinical Trial, that is, who directs the administration or dispensation of Test Article to Human Subjects, and who assumes responsibility
for studying such Human Subjects, for recording and ensuring the integrity of research data, and for protecting the welfare and safety
of such Human Subjects. In the event an investigation is conducted by a team of individuals, the Investigator is the responsible leader
of that team. “Subinvestigator” includes any other individual member of that team. For clarity, the Investigator,
Subinvestigators, and all other members of the NIAID Clinical Trial team will be compensated solely by NIAID for work done on the Clinical
Trial and will not be directly compensated by Company and/or CRO for such work.

 

“Investigator
Brochure” (IB) means, in accordance with the definition in 21 C.F.R. Part 312.23(a)(5), a document containing
information about the Test Article, including animal screening, preclinical toxicology, and detailed pharmaceutical data, including a
description of possible risks and side effects to be anticipated on the basis of prior experience with the Test Article or related drugs,
and precautions, such as additional monitoring, to be taken as part of the investigational use of the Test Article.

 

    	NIAID Sophia No. 2020-0924	Page 5 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

“Office
of Human Research Protections” (OHRP) means the HHS office that oversees protection of human subjects from research
risks under 45 C.F.R. Part 46 (the Common Rule).

 

“Party”
means an entity entering into this Agreement, referred to individually as the “Party” and collectively as the “Parties”.

 

“Patent”
means any issued United States patent, any international counterpart and any corresponding grant by a non-U.S. government in place
of a patent.

 

“Protocol”
means the formal, detailed description of the Clinical Trial to be performed as provided in Protocol : JAS-BMT-CP-001 &
-002 for JSP-191, the title of which is: “A Phase 1 Study to Evaluate the Safety and Tolerability of
Tandemly-purified Allogeneic CD34+CD90+ HSC Administered Following Conditioning with AMG 191 to Achieve Engraftment and Immune
Reconstitution in Patients with SCID.” A Protocol describes the objective(s), design, methodology, statistical
considerations, and organization of a clinical trial. For the purposes of this Clinical Trial, the term Protocol includes any and
all associated documents, including Informed Consent Forms, to be provided to Human Subjects and potential participants in the
Clinical Trial. This Agreement will be governed by the most recent version of the Protocol, and should this Agreement be executed
prior to complete finalization of the Protocol, the last-dated version thereof will be considered to be incorporated by reference in
place of any prior versions. In the event that there is a conflict between the terms of the Protocol and the ministerial or
administrative terms of this Agreement, the terms of this Agreement will govern; provided that, for clarity, the terms of the
Protocol shall govern in the event that such a conflict reads on the conduct of the Clinical Trial in terms of technical, clinical,
scientific, or safety matters.

 

“Protocol
Team” means the Company team responsible for the development and management of the Protocol, evaluation of data, proposal of
amendments, and all issues related to the Protocol or aspects of Protocol development and modification. The Protocol Team may include,
at the Company’s sole and exclusive discretion, the Investigators, representatives from NIAID, and the persons involved with statistical
and data analysis for the Clinical Trial. Participation on the Protocol Team will be as agreed by the Parties and will take into account
any special requirements of the Protocol design.

 

“Safety
Monitoring Committee” (SMC) means an independent group of experts that advises NIAID and the Investigators for
clinical trials. The primary responsibility of the SMC is to monitor Human Subject safety. The SMC considers study-specific data as well
as relevant background information about the disease, test agent, and target population under study.

 

“Serious
Adverse Event” (SAE) or “Serious Suspected Adverse Reaction” means the definition as stated
in the Protocol or an Adverse Event or Suspected Adverse Reaction that in the view of either the Investigator or sponsor, results in
any of the following outcomes:

 

		(a)	Death,
	 	 	 

		(b)	A
                                            life-threatening adverse event,
	 	 	 

		(c)	Inpatient
                                            hospitalization or prolongation of existing hospitalization,

 

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		(d)	A
                                            persistent or significant incapacity or substantial disruption of the ability to conduct
                                            normal life functions,
	 	 	 

		(e)	A
                                            congenital anomaly/birth defect, or
	 	 	 

		(f)	Important
                                            medical events that may not result in death, be life-threatening, or require hospitalization,
                                            but, based upon appropriate medical judgment, they may jeopardize the patient or subject
                                            and may require medical or surgical intervention to prevent of the outcomes (a) through
                                            (e).

 

“Sponsor”
means, in accordance with the definition in 21 C.F.R. Part 312.3, an organization or individual who assumes legal responsibility
for supervising or overseeing the Clinical Trial with Test Article, and is sometimes referred to as the “IND holder”.
The Sponsor for the Protocol is Company.

 

“Sponsor
Medical Monitor” or “SMM” is a company appointed physician with relevant expertise whose primary responsibility
is to provide safety monitoring for the Clinical Trial in a timely fashion. This is accomplished by review of adverse events, per Protocol
specification, with follow-up through resolution. The SMM evaluates individual and cumulative participant data when making recommendations
regarding the safe continuation of the Clinical Trial.

 

“Suspected
Adverse Reaction” means any Adverse Event for which there is a reasonable possibility that the drug caused the Adverse Event.
For the purposes of IND safety reporting, “reasonable possibility” means there is evidence to suggest a causal relationship
between the drug and the adverse event. Suspected Adverse Reaction is further defined in 21 C.F.R. 312.32.

 

“Test
Article” means, in accordance with 21 C.F.R. Part 50.3(j), any drug (including a biological product), medical device,
food additive, color additive, electronic product, material or any other article subject to regulation under the Federal Food, Drug,
and Cosmetic Act, 21 U.S.C. §§ 301, et seq., Pub. L.No.75-717, 52 Stat. 1040 (1938), as amended. In this Agreement,
JSP-191 and CD34+CD90+ HSC are referred to as the “Test Article”.

 

“Unexpected
Adverse Event” or “Unexpected Suspected Adverse Reaction” means the definition as stated in the Protocol
or an adverse event or suspected adverse reaction which is considered “unexpected” because it is not listed in the Investigator
Brochure or is not listed at the specificity or severity that has been observed; or, when an Investigator Brochure is not required or
available, is not consistent with the risk information described in the general investigational plan or elsewhere in the current application.
Unexpected Adverse Event and Unexpected Suspected Adverse Reaction are further defined in 21 C.F.R. 312.32.

 

		2.	CLINICAL
                                            RESEARCH SITE AND INVESTIGATORS

 

		2.1.	NIAID
                                            will not knowingly utilize:

 

		2.1.1	Any
                                            organization performing services in connection with this Clinical Trial that has been:

 

		(i)	Debarred
                                            under the provisions of the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335a(a)
                                            and (b); or

 

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		(ii)	Suspended
                                            by the Office for Human Research Protections (OHRP) as a clinical research site under 45
                                            C.F.R. Part 46; or
	 	 	 

		2.1.2	Any
                                            person convicted of a felony under federal law for conduct:
	 	 	 

		(i)	Relating
                                            to the development or approval, including, but not limited to, the process for development
                                            or approval, of any drug, product, medical device, New Drug Application (NDA), Pre-Market
                                            Application (PMA), 510(k) or IND or similar application; or
	 	 	 

		(ii)	Otherwise
                                            relating to the regulation of any drug product or medical device under the FD&C Act;
                                            or
	 	 	 

		2.1.3	Any
                                            person performing services in connection with this Clinical Trial that has been disqualified
                                            as a clinical investigator under 21 C.F.R. Part 312.70; or
	 	 	 

		2.1.4	Any
                                            Investigator who is not qualified by training and experience as an appropriate expert to
                                            conduct the Clinical Trial, as required under 21 C.F.R. Part 312.53.
	 	 	 

		2.2.	If
                                            either Party, at any time, becomes aware that any organization or person involved in the
                                            Clinical Trial is debarred, threatened with debarment, disqualified, threatened with disqualification,
                                            or suspended, that Party will notify the other Party immediately.
	 	 	 

		2.3.	NIAID
                                            will conduct the Clinical Trial in accordance with good clinical practice, including as defined
                                            by the ICH and comply with all applicable U.S. and foreign government, state and local
                                            laws, regulations and guidelines.
	 	 	 

		2.4.	NIAID
                                            understands and agrees that this Clinical Trial is part of a multi-site study. Company is
                                            conducting, at its own expense and under the IND, additional clinical trials with the Test
                                            Article. The Company agrees to inform the NIAID in writing of any other clinical trials it
                                            may support for the use of the Test Article that would compete with this Clinical Trial for
                                            the same Human Subject population.
	 	 	 

	3.	INVESTIGATIONAL
                                            NEW DRUG APPLICATION SPONSORSHIP
	 	 

		3.1.	IND.
                                            The Company will submit an IND covering the Protocol to the FDA. The IND will satisfy
                                            all of the requirements of the FDA.
	 	 	 

		3.2.	Company
                                            holds the only IND under which the Protocol(s) will be conducted. During and for a period
                                            of [...***...] after the completion of a Protocol, Company shall promptly provide
                                            to NIAID any information that Company has reasonably determine could directly affect the
                                            health or safety of past or current Human Subjects, or influence the conduct of the Protocol.
                                            Such information may arise from any source, for example, safety reports provided to the FDA,
                                            study results, information in site monitoring reports or data safety monitoring committee
                                            reports. NIAID shall be free to communicate the relevant safety information to each Human
                                            Subject and the IRB.
	 	 	 

		3.3.	Records
                                            and Recordkeeping. NIAID agrees to maintain all records described in the Protocol and
                                            required by this Agreement resulting from the Clinical Trial for the time required by applicable
                                            local, state and federal laws and regulations and shall allow for inspections of all such
                                            records by Company, CRO, or its or their authorized representatives during such period of
                                            retention, with [...***...] notice to the NIAID. All such records shall be
                                            submitted to Company upon request or upon completion of the Clinical Trial or as it otherwise
                                            directs. All reports provided to Company by NIAID must be in accordance with the Protocol
                                            and FDA requirements or as it otherwise instructs. Notwithstanding the foregoing, NIAID may
                                            retain one copy of the foregoing records for archival purposes. Records of the Study, including
                                            either the original or a copy of all ICFs of Human Subjects, shall be retained in conformance
                                            with applicable federal and state laws and regulations and NIAID policies.

 

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		3.4.	Protocol
                                            Monitoring.  CRO will be responsible for Clinical Research Site monitoring and quality
                                            assurance of all data in accordance with the clinical monitoring plan. Monitoring will be
                                            done in compliance with FDA Good Clinical Practice Guidelines (ICH) (E6). CRO will communicate
                                            any clinically significant findings from its clinical monitors to Company.
	 	 	 

		3.5.	Audit
                                            and Inspection. With [...***...] days notice to the NIAID, Company,
                                            CRO, or its or their authorized representatives, and regulatory authorities to the extent
                                            permitted by law, may, during regular business hours: (a) examine and inspect NIAID’s
                                            facilities used in performance of the Clinical Trial, including storage or use of the Test
                                            Article; (b) inspect and copy all data and work product
relating to the Clinical Trial or the IRB, including CRFs, Human Subject medical records, ICFs and other informed consent documentation,
required licenses, certificates and accreditation; and (c) interview Investigator, Subinvestigators, and NIAID or IRB personnel.
NIAID shall cooperate with any such inspection and shall provide timely access to requested records and data.

 

		3.6.	Safety
                                            Reporting
	 	 	 

		3.6.1	The
                                            Company will collect safety reports according to the procedure outlined in the Protocol.
                                            The Company will assume responsibility for the reporting of safety reports to the FDA and
                                            will provide copies of the reports to NIAID.
	 	 	 

		3.6.2	(i)	For any safety report that meets all of the following criteria
of (i) Serious (ii) Unexpected and (iii) Suspected Adverse Reaction, Company will provide to NIAID a completed copy of
the safety report at the time the report is submitted to the FDA, and Company will provide follow up information to NIAID at the time
the follow up safety report is submitted to FDA. The reporting will be completed in the timeframes consistent with 21 CFR 312.32.
	 	 	 	 

		(ii)	Company
                                            will report all other Serious and non-serious Adverse Events to the FDA and to NIAID on a
                                            timely basis consistent with 21 C.F.R. Part 312.33, and the Protocol.
	 	 	 

		3.6.3	As
                                            the manufacturer, Company will, in a timely manner consistent with FDA requirements and during
                                            the term of this Clinical Trial, provide NIAID with any information it now has or may obtain
                                            in the future regarding the safety and/or the toxicity of Test Article. NIAID will promptly
                                            transmit that information to the Investigator and any Subinvestigators.

 

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		3.7.	Safety
                                            Monitoring. In accordance with NIH guidelines Company and NIAID agree that the following
                                            type(s) of safety monitoring is (are) necessary and appropriate for this Clinical Trial:
	 	 	 

Sponsor
Medical Monitor (SMM). Sponsor has appointed a physician with relevant expertise, [...***...],
whose primary responsibility will be to provide safety monitoring for the Clinical Trial in a timely fashion. [...***...] will
review of adverse events, per Protocol specification, and follow-up through resolution. [...***...] will evaluate individual
and cumulative participant data when making recommendations regarding the safe continuation of the Clinical Trial.

 

AND

 

Data
and Safety Monitoring Board (DSMB). Company will notify NIAID in advance of any DSMB review. NIAID may participate in and
will receive the open session reports of the DSMB. Prior to the Completion of the Clinical Trial, data and reports distributed for DSMB
review will be used only for the purposes of the DSMB meeting and will be held in confidence by the DSMB.

 

		3.8.	Adverse
                                            Experience Reporting. NIAID and/or Investigator shall promptly report to Company and/or
                                            CRO all serious adverse experiences (including for example, AE or SAE) that may be associated
                                            with the administration of the Test Article that occur during the course of the Clinical
                                            Trial. For purposes of this Section, “promptly” shall mean within [...***...]
                                            of the occurrence of any such serious adverse experience. Failure to comply with this Section 3.8
                                            shall constitute reasonable grounds for Jasper to terminate this Agreement as provided in
                                            Section 23.
	 	 	 

	4.	FDA
                                            MEETINGS/COMMUNICATIONS
	 	 

		4.1.	With
                                            respect to any discussions with the FDA involving data obtained from this Clinical Trial
                                            under Company’s IND, Company will take the initiative in arranging meetings with the
                                            FDA. Company may, at its sole and exclusive option, provide NIAID with copies of all transmittal
                                            letters for IND submissions, IND Safety Reports, formal questions and responses that have
                                            been submitted to the FDA, except to the extent that those documents contain the proprietary
                                            information of Company or a third party.
	 	 	 

		4.2.	Company
                                            will promptly notify NIAID of any FDA correspondence related to the Protocol that is received
                                            by Company, and/or any FDA enforcement actions directed toward Company, in each case that
                                            could impact the safety of Human Subjects in the Clinical Trial, Test Article, or Protocol,
                                            including but not limited to: warning letters, seizures, recalls, injunctions/consent decrees,
                                            rejection of regulatory submissions or withdrawal of approval for a Test Article, and proceedings
                                            to debar Company, or individuals employed under a contract to Company.

 

		4.3.	Company
                                            will also promptly notify NIAID of any action taken by the FDA regarding manufacturing of
                                            the Test Article that would impact the safety of Human Subjects in the Clinical Trial.

 

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	5.	SUPPLY,
                                            DISTRIBUTION, AND USE OF TEST ARTICLE
	 	 

		5.1.	Supply.
	 	 	 

		5.1.1	NIAID
                                            will provide Company with an estimate of the quantity of Test Article that will be required
                                            to complete the Protocol. The Test Article shall be used solely for purposes of the performance
                                            of the Clinical Trial by NIAID. NIAID shall keep the Test Article in an area that has controlled
                                            access, which access shall be limited to the Investigator. NIAID shall not transfer the Test
                                            Article to any third party. NIAID shall maintain complete and accurate records of all quantities
                                            of Test Article received and dispersed by NIAID, as indicated in Section 5.1.3 below.
	 	 	 

		5.1.2	Company
                                            will supply the Test Article to NIAID [...***...] and in quantities and conditions
                                            sufficient to complete the Protocol and on a schedule mutually agreed upon by the Parties
                                            to ensure a sufficient supply of unexpired Test Article.
	 	 	 

		5.1.3	The
                                            Company will be responsible for labeling the Test Article used in the Clinical Trial. The
                                            Test Article will be shipped to NIAID in containers marked in accordance with 21 C.F.R
                                            Section 312.6. All used containers of the Test Article shall be destroyed or otherwise
                                            disposed of in accordance with NIAID’s written standard operating procedures (“SOPs”).
                                            Written certification of such destruction or disposal shall be provided to Company by NIAID.
                                            All expired or unused Test Article shall be destroyed per NIAID’s SOPs therefore at
                                            the completion of the Clinical Trial, or termination thereof, whichever occurs first.
	 	 	 

		5.2.	Distribution.
	 	 	 

		5.2.1	Company
                                            will ship the Test Article to the Clinical Research Site, as mutually agreed by the Parties.
                                            Company will provide specific storage and/or shipping instructions for the Test Article to
                                            NIAID, who will be responsible for adhering to them, as mutually agreed by the Parties. Company
                                            warrants that any packaging for hazardous material provided by Company meets Department of
                                            Transportation regulatory requirements for use at the Clinical Research Site.
	 	 	 

		5.2.2	The
                                            Test Article must be received by the Clinical Research Site in usable condition and accompanied
                                            by Material Safety Data Sheet (MSDS), specific storage and shipping instructions, stability
                                            and/or expiration dating information and the finally signed and dated Certificate of Analysis
                                            (COA) for each lot of Test Article sent. If Company performs ongoing stability testing
                                            for each lot of Test Article sent, then Company will also provide updated retest or expiration
                                            dates for those respective lots to NIAID in a timely manner.
	 	 	 

		5.2.3	If
                                            there is evidence that the Test Article that arrived at the Clinical Research Site has not
                                            been maintained according to the defined shipping instructions or there is evidence of damage
                                            to the Test Article container or container closure system, NIAID will contact Company to
                                            inform them of the condition of the received Test Article and to determine together with
                                            Company whether the Test Article is usable or if it must be replaced. During the course of
                                            the Clinical Trial, the same process will be used whenever there is evidence that the Test
                                            Article has not been maintained according to Company’s recommended storage conditions.
                                            If the Test Article must be replaced, Company will replace it at [...***...] to
                                            NIAID, or the Clinical Research Site.

 

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		5.3.	Use.
	 	 	 

		5.3.1	NIAID
                                            will neither transfer the Test Article to parties other than the Clinical Research Site,
                                            nor will NIAID chemically modify, replicate, make derivatives of, or reverse engineer the
                                            Test Article unless required by the Protocol or mutually and expressly agreed in writing
                                            by the Parties.
	 	 	 

		5.3.2	NIAID
                                            will request that the Investigator and any Subinvestigators:
	 	 	 

		(i)	use
                                            the Test Article only in accordance with the Protocol and for no other purpose;

 

		(ii)	not
                                            transfer the Test Article to any parties except Company; and
	 	 	 

		(iii)	not
                                            chemically modify, replicate, make derivatives of, or reverse engineer the Test Article unless
                                            required by the Protocol or as mutually and expressly agreed to, in writing, by the Parties.
	 	 	 

		5.4.	Investigator
                                            Brochure. Company will provide a current Investigator Brochure for all applicable components
                                            of the Test Article, and any later revisions and addenda to the Investigator Brochure for
                                            the Test Article to NIAID, as mutually agreed by the Parties.
	 	 	 

		5.5.	Disposition
                                            of Unused Test Article. The NIAID will require the Clinical Research Site to destroy
                                            any unused or expired Test Article upon completion of the Protocol in accordance with Section 5.1.3
                                            above.
	 	 	 

		5.6.	Warranty.
                                            Company represents and warrants that the Test Article supplied shall be manufactured
                                            and released according to the principles of current Good Manufacturing Practice and when
                                            administered in accordance with Protocol it is suitable for human use.
	 	 	 

		5.7.	Source.
                                            In the event Company elects to terminate its development of Test Article for reasons
                                            other than safety, without the transfer of its development efforts and obligations under
                                            this Agreement to another party within [...***...] of such termination, then Company
                                            will provide NIAID with Test Article for all then-enrolled Human Subjects sufficient to complete
                                            the Clinical Trial in the manner described in the Protocol.
	 	 	 

		5.8.	Termination
                                            of Development. The Company hereby grants to the NIAID a nonexclusive, nontransferable,
                                            irrevocable, paid-up license to practice or have practiced for or on behalf of the United
                                            States any invention which the Company may have or obtain on Test Article, its manufacture,
                                            or on the process for use of Test Article, throughout the world, for medical research purposes
                                            related to Engraftment and Immune Reconstitution in Patients with SCID. This license will
                                            only become effective in the event the Company terminates its development of Test Article
                                            for reasons other than safety, without the transfer of its development efforts to another
                                            party within [...***...] of termination, and the NIAID elects to continue the development
                                            of Test Article. This provision will become null and void upon FDA approval of the Test Article
                                            indications and marketing of the Test Article by the Company.

 

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	6.	PROTOCOL
                                            DEVELOPMENT
	 	 

		6.1.	The
                                            Parties agree that enrollment in the Clinical Trial will not start until the version of the
                                            Protocol to be used has been reviewed in advance by the Protocol Team; approved (stipulations
                                            met/resolved) by the relevant IRB(s) and NIAID in writing; and submitted to the FDA, the
                                            thirty (30) calendar day wait period has been satisfied and any FDA clinical hold issues
                                            have been responded to satisfactorily. The Protocol is a product of Company and will be deemed
                                            its Confidential Information, as defined in Section 11 (Confidential Information) of
                                            this Agreement.
	 	 	 

The
Parties agree that any alteration in or amendment to the Protocol must be accepted by the Protocol Team, approved in writing by the relevant
IRB(s), and submitted to the FDA, if appropriate, prior to such alteration or amendment becoming effective.

 

		7.	CASE
                                            REPORT FORM DEVELOPMENT

 

Company
or the CRO will be responsible for the development and subsequent revisions, if any, of the Case Report Forms, with appropriate review
and comment by the Protocol Team.

 

		8.	HUMAN
                                            SUBJECTS PROTECTION

 

		8.1.	NIAID
                                            and Company recognize the principles of respect for persons, beneficence (including minimization
                                            of harms and maximization of benefits), and justice as stated in the Belmont Report and will
                                            apply these principles in all research covered under this Agreement. The informed consent
                                            of each Human Subject participating in the Clinical Trial at the Clinical Research Site will
                                            be obtained in accordance with 21 C.F.R. Sections 50 and 56, prospectively
                                            using an IRB approved informed consent process. The Informed Consent Form prepared by the
                                            Company may be reviewed in advance by NIAID and the Institutional Review Board (IRB). NIAID
                                            shall maintain adequate documentation of its obtainment of the informed consent of each Human
                                            Subject.
	 	 	 

		8.2.	NIAID
                                            and Company acknowledge and accept their responsibilities for protecting the rights and welfare
                                            of human research subjects set forth in 45 C.F.R. Part 46, Protection of Human
                                            Subjects (Revised
November 13, 2001) and in a Certificate of Confidentiality issued by NIH in accordance with 42 U.S.C. 241(d) of the Public
Health Service Act.

 

Therefore:

 

		8.2.1	Any
                                            ISI that Company receives from NIH is covered by a CoC and therefore all copies of ISI are
                                            immune from the legal process, and will not, without the consent of the Human Subject, be
                                            admissible as evidence or used for any purpose in any action, suit, or other judicial, legislative,
                                            or administrative proceeding.
	 	 	 

		8.2.2	NIAID
                                            and Company will maintain the confidentiality of ISI of Human Subjects collected under the
                                            Clinical Trial and protect the privacy of each of the individual Human Subjects in the Clinical
                                            Trial unless disclosure is required by law (e.g., as required by the Federal Food, Drug,
                                            and Cosmetic Act, or state laws requiring the reporting of communicable diseases to State
                                            and local health departments), excluding instances of disclosure in any Federal, State, or
                                            local civil, criminal, administrative, legislative, or other proceeding. Prior to making
                                            any permitted disclosures, Company will ensure that any recipient of ISI protected by a CoC
                                            is aware of its confidential nature and the requirement to comply with the CoC.

 

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		8.2.3	NIAID
                                            and Company may inspect, but not copy, Human Subjects’ medical records that might also
                                            include information not directly connected to this Clinical Trial. However, NIAID and Company
                                            agree that this information will remain confidential and will not be used for any purpose
                                            other than confirmation of Clinical Trial data.
	 	 	 

		8.2.4	NIAID
                                            and Company agree that neither Party will, nor will they allow the Clinical Research Sites
                                            to, include ISI that could lead to identification of individual Human Subjects in any release
                                            of data, reports or publications related to the Clinical Trial. NIAID will require that the
                                            Investigators not include ISI that could lead to identification of individual Human Subjects
                                            in any release of data, reports or publications related to the Clinical Trial.
	 	 	 

		8.2.5	NIAID
                                            and Company agree that neither Party will, nor will they allow the Clinical Research Site
                                            to, use ISI about Human Subjects for any purpose not stated in the Protocol without the consent
                                            of the other Party and local site IRB approval. NIAID will require that the Investigators
                                            not use IPI for any purpose not stated in the Protocol and the ICF without the written consent
                                            of both Parties and appropriate IRB approval.
	 	 	 

		8.2.6	NIAID
                                            and Company agree to comply with the determinations of the IRB overseeing this Clinical Trial.
	 	 	 

		8.2.7	Specimens
                                            and data provided to Company during and after the Clinical Trial will be coded. Unequivocally,
                                            neither IPI nor the key linking coded data to individuals will be released to Company.
	 	 	 

	9.	DATA
                                            ANALYSIS AND MANAGEMENT, CLINICAL SPECIMENS AND ISOLATES
	 	 

		9.1.	NIAID
                                            will be responsible for securing the data obtained from the Clinical Trial at the Clinical
                                            Research Site, and promptly transferring that data to the Company.
	 	 	 

		9.2.	Company
                                            will have responsibility for the data management: collection, entry, and quality control
                                            edits (with implied verifications and documentation) and analysis of data obtained from the
                                            Clinical Trial in accordance with the Protocol.
	 	 	 

		9.3.	Prior
                                            to transfer of the data to the Company or its designee, NIAID will not allow a third party
                                            to review or use the data obtained from the Clinical Trial for any purposes without the prior
                                            express written permission of Company.
	 	 	 

		9.4.	Subject
                                            to the right of NIAID and the Investigator to publish the data from this Clinical Trial as
                                            set forth in Section 10 (Publications and Press Releases) of this Agreement, Company
                                            has the right to utilize the data reports in its possession from this Clinical Trial for
                                            all legitimate business or regulatory purposes. Company may provide any information regarding
                                            the Clinical Trial to governmental organizations including, but not limited to, the FDA,
                                            and the Securities and Exchange Commission (SEC) for all legitimate public health, regulatory
                                            or business purposes. Except for information related to regulatory or safety issues or under
                                            emergency circumstances where it is not practicable to do so and to the extent permitted
                                            by law, NIAID will not release information
regarding the Clinical Trial to governmental organizations without prior written notification of the information to, and the approval
of, Company.

 

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		9.5.	During
                                            the Clinical Trial, NIAID will provide Company with clinical specimens as needed for Protocol-related
                                            purposes only. Company will [...***...] the shipment of these clinical specimens
                                            from the Clinical Research Site to Company or its designated laboratory and their testing
                                            according to the Protocol.
	 	 	 

	10.	PUBLICATIONS
                                            and PRESS RELEASES
	 	 

		10.1.	The
                                            Clinical Trial is being conducted as part of a multi-center clinical trial. In accordance
                                            with the Protocol, data from all of centers will be pooled and analyzed for publication in
                                            a final report (“Primary Publication”). NIAID agrees that the Primary Publication
                                            to be coordinated by Company may be the first publication to present the pooled results from
                                            all sites conducting the clinical trial. Before either Party submits a paper or abstract
                                            for publication or otherwise intends to publicly disclose information about the clinical
                                            trial, the other Party shall be provided [...***...] to review the proposed publication.
                                            The publication or other disclosure shall be delayed for up to [...***...] upon
                                            written request by either Party.
	 	 	 

		10.2.	Any
                                            NIAID Publications will conform to NIH publication policies. Unless requested otherwise by
                                            Company, NIAID will acknowledge Company as the source of the Test Article in any NIAID Publication
                                            resulting from the Clinical Trial.
	 	 	 

		10.3.	Recognizing
                                            that employees of either Party may play an important role in the design, analysis, and interpretation
                                            of the findings of the Clinical Trial, each Party will include appropriate individuals from
                                            the other Party in the authorship of any publications resulting from the Clinical Trial,
                                            in accordance with the generally accepted customs pertaining to authorship.
	 	 	 

		10.4.	NIAID
                                            will provide Company with a copy of any abstract, presentation, or manuscript prior to submission
                                            for a NIAID Publication with sufficient time for review and comment as provided in Section 10.1.
                                            NIAID agrees that, following Company review of any NIAID abstract and/or manuscript for the
                                            maximum periods of time specified above, if no comment is received by Company, NIAID will
                                            be free to publish, present the NIAID Publication. Company will maintain the proposed NIAID
                                            Publication as NIAID Confidential Information until such NIAID Publication is published.
                                            If Company requests additional time to file a patent application related to a NIAID Publication,
                                            that NIAID Publication re may be delayed for up to [...***...] and up to [...***...]
                                            for abstracts, upon written request by Company as necessary to preserve U.S. or foreign
                                            patent or other intellectual property rights.
	 	 	 

		10.5.	Each
                                            Party will provide a copy of any proposed press release to the other Party for review and
                                            comment at least [...***...] in advance of such proposed press release. Each Party
                                            agrees that, following the receiving Party’s review of a proposed press release for
                                            the maximum period of time specified above, if no comment is received by the submitting Party,
                                            the submitting Party will be free to publish the proposed press release in the exact form
                                            submitted to the other Party. Company and NIAID shall each obtain prior written permission
                                            from the other before using the name, insignia, symbol(s), trademarks or logotypes associated
                                            with such party in any form of promotion or publicity, or for any representation or statement,
                                            in each case in connection with the Clinical Trial, such consent may not be unreasonably
                                            withheld..

 

    	NIAID Sophia No. 2020-0924	Page 15 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

		10.6.	The
                                            disclosure restrictions contained in this Section 10 shall not apply to the extent such
                                            disclosure is required (a) by law or regulation, and/or (b) to prevent or mitigate
                                            a serious health hazard.
	 	 	 

	11.	CONFIDENTIAL
                                            INFORMATION
	 	 

		11.1.	Either
                                            Party may disclose and/or receive Confidential Information under the terms and conditions
                                            of this Agreement. Each receiving Party will limit its disclosure and use of the disclosing
                                            Party’s Confidential Information to the amount necessary to conduct the Clinical Trial,
                                            and each Party will place a written confidentiality notice on all of its Confidential Information.
                                            Each Party receiving Confidential Information of the other Party agrees that Confidential
                                            Information shall be maintained as confidential and proprietary to such other Party in accordance
                                            with this Agreement, and used by it only for the purposes of the Clinical Trial. Any Party
                                            may object to the designation of information as Confidential by the other Party, provided
                                            that such objection falls within the exceptions to Confidential Information set forth in
                                            Section 1 above.

 

		11.2.	Unless
                                            expressly provided otherwise, neither Party will disclose, copy, reproduce or otherwise make
                                            the disclosing Party’s Confidential Information available to any other person or entity
                                            without the prior express written consent of the disclosing Party unless required by a court
                                            or administrative body of competent jurisdiction, the Freedom of Information Act (FOIA),
                                            5 U.S.C. § 552, 45 C.F.R. Part 5, or other applicable laws and/or regulations to
                                            disclose such Confidential Information, except that NIAID may disclose Company’s Confidential
                                            Information to the Investigator and Subinvestigators as required for the conduct of the Clinical
                                            Trial. NIAID will request and require the Investigator and Subinvestigators receiving Company’s
                                            Confidential Information to maintain the confidentiality of Company’s Confidential
                                            Information consistent with the terms of this Agreement.
	 	 	 

		11.3.	Each
                                            Party will use the same level of care it uses with its own Confidential Information, but
                                            no less than a reasonable level of care, in maintaining the confidentiality of the other
                                            Party’s Confidential Information. While NIAID will endeavor to control the distribution
                                            of the Protocol document itself, Company acknowledges that some Government documents are
                                            available (with abstracts) to the public under the Freedom of Information Act. In addition,
                                            NIAID requires the posting of information on the ClinicalTrials.gov registry of clinical
                                            studies by the Company, available through the NIH Website, consistent with the Food and Drug
                                            Administration Amendments Act of 2007, 121 STAT. 823. Additionally, NIAID agrees that
                                            it will provide to Company a copy of the proposed synopsis of this Clinical Trial to be posted
                                            in the NIH Clinical Trial Database for review at least [...***...] in advance of
                                            the proposed posting. Company agrees that, following the review period and integration of
                                            its comments thereto within [...***...], NIAID will be free to post the synopsis.

 

    	NIAID Sophia No. 2020-0924	Page 16 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

		11.4.	Each
                                            Party agrees that the receiving Party is not liable for the disclosure of Confidential Information
                                            of the disclosing Party which, after notice to and consultation with the disclosing Party,
                                            the receiving Party determines may not be lawfully withheld, provided the disclosing Party
                                            has been given an opportunity, with the cooperation of the receiving Party, to seek a court
                                            order to enjoin such Confidential Information from disclosure.
	 	 	 

		11.5.	Each
                                            Party’s obligation to maintain the confidentiality of Confidential Information of the
                                            other Party will expire at the earlier of the date when such information is no longer Confidential
                                            Information as defined above in Section 1, or [...***...] after the expiration
                                            or termination date of this Agreement. Company may request an extension to this term when
                                            necessary to protect its Confidential Information relating to [...***...]. This
                                            term does NOT apply to ISI, for which the obligation to maintain confidentiality will extend
                                            indefinitely.
	 	 	 

	12.	INTELLECTUAL
                                            PROPERTY
	 	 

		12.1.	Ownership
                                            of any Invention conceived solely or jointly by NIAID employees, the Clinical Research Site
                                            and Investigators as a consequence of conducting the Clinical Trial and not involving the
                                            Test Article or the Company’s Confidential Information, will be determined under U.S. laws
                                            pertaining to intellectual property created in the course of federally funded research. Neither
                                            Party acquires by virtue of this Agreement any right, title, nor interest in or to any issued
                                            Patents or pending patent applications owned or controlled by the other Party. Nothing in
                                            this Agreement will be construed as granting any license or obligation to license any intellectual
                                            property owned by Company to NIAID with respect to the Test Article, other than the limited
                                            right to use the Test Article for the performance of the Protocol in accordance with the
                                            terms of this Agreement.
	 	 	 

		12.2.	NIAID
                                            Intellectual Property.
	 	 	 

		12.2.1	The
                                            Government will retain title to any Patent, pending patent applications or other intellectual
                                            property rights in Inventions conceived solely by NIAID employees in the course of the Clinical
                                            Trial.
	 	 	 

		12.2.2	NIAID
                                            agrees to notify Company of any NIAID sole or joint Invention and to disclose it to Company
                                            under an appropriate confidentiality agreement. Company may apply for nonexclusive or exclusive
                                            license rights to any such patentable Invention made by NIAID employees that might arise
                                            during the clinical research and the NIH will consider Company’s application for a
                                            nonexclusive or exclusive license consistent with 37 C.F.R. Part 404.

 

		12.3.	Company
                                            Intellectual Property. Company will retain title to any Patents, pending patent conceived
                                            on its behalf by it, and/or by its agents and/or employees during the course of the Clinical
                                            Trial, including, without limitation any Patents, pending patent applications, or other intellectual
                                            property rights in Inventions related to, for example, the Test Article and/or the Company’s
                                            Confidential Information.
	 	 	 

		12.4.	Joint
                                            NIAID-Company Intellectual Property. NIAID and Company will have joint intellectual property
                                            rights in Inventions conceived jointly by their employees during the course of the Clinical
                                            Trial. Company may apply for a non-exclusive or exclusive license to NIAID rights in such
                                            Inventions in accordance with the 37 CFR 404.

 

    	NIAID Sophia No. 2020-0924	Page 17 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

	13.	FORCE
                                            MAJEURE
	 	 

Neither
Party will be liable for any unforeseeable event beyond its reasonable control not caused by the fault or negligence of such Party, which
causes such Party to be unable to perform its obligations under this Agreement, and which it has been unable to overcome by the exercise
of due diligence. In the event of the occurrence of such a force majeure event, the Party unable to perform will promptly notify the
other Party. It will further use its best efforts to resume performance as quickly as possible and will suspend performance only for
such period of time as is necessary as a result of the force majeure event.

 

	14.	LIABILITY,
                                            INDEMNIFICATION, INSURANCE & RESEARCH RELATED INJURY
	 	 

		14.1.	Liability.
                                            In view of the Anti-Deficiency Act, 31 U.S.C. § 1341, NIAID cannot agree to indemnify
                                            Company for its losses. Each Party will be liable for the losses, claims, damages, or liabilities
                                            that it incurs as a result of its activities under this Agreement except that NIAID, as an
                                            agency of the Government, assumes liability only to the extent provided under the Federal
                                            Tort Claims Act, 28 U.S.C. Ch. 171.
	 	 	 

		14.2.	Indemnification.
                                            Company will defend, indemnify and hold harmless NIAID, and its grantees and their respective
                                            employees (“Indemnitee(s)”) from any and all liabilities, damages, losses, claims,
                                            action, suits and expenses, including attorneys’ fees and court costs (collectively
                                            “Claims”) to the extent caused by the administration or use of the Test Article
                                            in the Clinical Trial in accordance with the Protocol and other instructions of the Company.
                                            Company’s control over the defense and settlement of any claim against NIAID will be
                                            subject to the consent of NIAID and the Department of Justice, and such consent may not be
                                            unreasonably withheld. The Indemnitee(s) will at all times have the right to fully participate
                                            in the defense of any Claim at their own expense and for their own account, subject to the
                                            foregoing sentence. Company’s obligation to so indemnify Indemnitee(s) will only apply
                                            if each of the following conditions is met:
	 	 	 

		14.2.1	The
                                            Claim was not proximately caused by the Indemnitee(s)’ failure to conduct the Clinical
                                            Trial in accordance with the Protocol, other instructions of the Company, and this Agreement;
	 	 	 

		14.2.2	The
                                            Claim was not caused by the negligence, recklessness or willful misconduct of any Indemnitee,
                                            provided that any action properly taken by the Indemnitee in compliance with the Protocol
                                            or written instructions from Company will be deemed, for purposes of this condition, not
                                            to be negligent, and provided further that if a Claim is jointly caused by the negligence
                                            of any Indemnitee and the administration or use of the Test Article, then Company will provide
                                            defense and indemnification solely to the extent the Claim was caused by the administration
                                            of the Test Article in accordance with the Protocol, other instructions of the Company, and
                                            this Agreement.
	 	 	 

		14.3.	Insurance.
                                            Company represents and warrants that it will maintain during the term of this Agreement or
                                            the Protocol, whichever is longer, a liability insurance policy or a program of insurance
                                            or self-insurance at levels sufficient to support the indemnification obligations assumed
                                            under this Agreement and to cover the costs of medical care required to treat or stabilize
                                            adverse reactions suffered by Human Subjects who received Test Article in accordance with
                                            the approved Protocol. Upon request, Company will provide evidence of its insurance or self-insurance
                                            to NIAID.

 

    	NIAID Sophia No. 2020-0924	Page 18 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

		14.4.	Human
                                            Subject Injury or Illness Attributable to the Test Article. Company will pay the reasonable
                                            cost of medical care required by Human Subjects for illness or injury attributable to the
                                            Test Article. For purposes of this determination and Company’s obligation under this
                                            Agreement, “attributable”
means that the receipt of the Test Article and the Clinical Trial Human Subject’s illness or injury are reasonably related in time,
and the illness or injury is more likely explained by the receipt of the Test Article than any other cause, including, for example, the
progression of the Human Subject’s underlying disease(s). The payment or offer of payment of any amount by Company on behalf of
a Human Subject or his or her healthcare insurer or other third party payer under this Section is not an admission of fault or liability
by any one or more of (a) the Government or any agency thereof; (b) the Clinical Research Site, or its affiliate organizations,
or (c) Company, its employees or agents, and any such payment or offer of payment will not be considered a waiver of any defense
or other legal right by any of the foregoing in any legal, administrative or similar proceeding.

 

		15.	DISPUTES

 

Any
dispute arising under this agreement that is not disposed of by mutual agreement of the Parties will be submitted jointly to the signatories
of this Agreement. If the signatories are unable to jointly resolve the dispute within [...***...] after notification thereof,
the dispute will be referred to the Director of NIAID (or his/her designee) and an appropriate authorized representative of Company for
resolution. If the Director of NIAID (or his/her designee) and the authorized representative of Company are unable to jointly resolve
the dispute within [...***...], either Party may pursue any and all administrative or judicial remedies that may be available.

 

		16.	INDEPENDENT
                                            CONTRACTORS

 

In
the performance of all work under this Agreement, neither Party is authorized or empowered to act as agent for the other for any purpose
and will not, on behalf of the other Party, enter into any contract, warranty, or representation as to any matter. Neither Party will
be bound by the acts of the other Party.

 

		17.	NON-ENDORSEMENT

 

By
entering into this Agreement, NIAID does not directly or indirectly endorse any product or service provided, or to be provided, by Company.
Company will not in any way state or imply that this Agreement is an endorsement of those product(s) or service(s) by the Government
or any of its organizational units or employees. However, Company may reference or use Publications (including NIAID Publications) and
reports based on the Clinical Trial for legitimate business and regulatory purposes; however, such use of references or Publications
may not state any endorsement by the NIAID.

 

		18.	AMENDMENTS

 

Modifications
to this Agreement will not be effective unless made in writing, as mutually agreed, and signed by a duly authorized representative of
each Party.

 

    	NIAID Sophia No. 2020-0924	Page 19 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

		19.	SURVIVABILITY

 

The
provisions of Sections 2 (Clinical Research Site and Investigators), 3 (Investigational New Drug Application Sponsorship), 4 (FDA
Meetings/Communications), 5 (Supply, Distribution, and Use of Test Article), 8 (Human Subjects Protection), 9 (Data Analysis and Management,
Clinical Specimens and Isolates), 10 (Publications and Press Releases), 11 (Confidential Information), 12 (Intellectual Property), 14
(Liability, Indemnification, Insurance and Research Related Injury), 17 (Non-Endorsement) Section 19 (Survivability) and sub-Section 23.4;
will survive the expiration or earlier termination of this Agreement.

 

		20.	ENTIRE
                                            AGREEMENT AND SEVERABILITY

 

This
Agreement constitutes the entire Agreement and understanding of the Parties with respect to the subject matter hereof and supersedes
any prior understanding or written or oral Agreement. The provisions of this Agreement are severable and, in the event that any provision
of this Agreement will be determined to be invalid or unenforceable under any controlling body of law, such determination will not in
any way affect the validity and enforceability of the remaining provisions of this Agreement.

 

		21.	ASSIGNMENT

 

Neither
this Agreement nor any rights or obligations of any Party hereunder will be assigned or otherwise transferred by either Party without
the prior written permission of the other Party, provided that the Company may assign or otherwise transfer its rights and obligations
hereunder to an acquiror of all, or substantially all, of its assets related to this Agreement, with written consent of the NIAID, such
consent will not be unreasonably withheld.

 

		22.	APPLICABLE
                                            LAW

 

This
Agreement will be construed in accordance with Federal law as applied by the Federal courts of the District of Columbia.

 

		23.	TERM
                                            AND TERMINATION

 

		23.1.	Unless
                                            terminated sooner in accordance with this Section 23, this Agreement will expire upon
                                            receipt of the Completion of the Clinical Trial, as described in Section 1 above.
	 	 	 

		23.2.	If
                                            NIAID does not enroll at least [...***...] Human Subject within [...***...]
                                            of the site initiation visit, Company may terminate this Agreement in accordance with Section 23
                                            hereof, with no further obligation to NIAID.
	 	 	 

		23.3.	The
                                            Parties may terminate this Agreement at any time by mutual written consent.
	 	 	 

		23.4.	Either
                                            Party may unilaterally terminate this Agreement at any time by giving written notice at least
                                            thirty (30) calendar days prior to the desired termination date.
	 	 	 

		23.5.	This
                                            Agreement may be terminated or suspended by either Party with a sixty (60) day notice
                                            to the other if any of the following conditions occur: (a) the authorization and approval
                                            to perform the Study in the United States is permanently withdrawn by the FDA, or the IRB
                                            or any other lawful authority, and is not restored within three months of such withdrawal,
                                            (b) Company deems termination appropriate upon reasonable grounds, (c) Investigator
                                            is unable to continue and an acceptable successor is not agreed.

 

    	NIAID Sophia No. 2020-0924	Page 20 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

		23.6.	Upon
                                            termination hereof for any reason, the Parties shall each act responsibly to protect the
                                            health, welfare and safety of all Human Subjects.
	 	 	 

		23.7.	If
                                            this Agreement is terminated prior to completion of the Protocol, the Protocol will be completed
                                            if medically or ethically appropriate. In that event, each enrolled Human Subject will be
                                            followed through the period outlined in the Protocol and Company will supply enough Test
                                            Article to complete the Protocol.
	 	 	 

		23.8.	At
                                            the completion or earlier termination of the Clinical Trial, an accounting will be made of
                                            the Test Article and any such supplies remaining shall be returned to Company or disposed
                                            of in accordance with Section 5.1.3 above.
	 	 	 

		23.9.	In
                                            the event Company elects to terminate its obligations under the terms of this agreement,
                                            due to an unexpected dissolution, Company must notify NIAID within at least thirty (30) calendar
                                            days of the dissolution; and, provide NIAID with the resources necessary to complete the
                                            Protocol in addition to the terms of Section 5 above.
	 	 	 

		24.	CONFLICT
                                            OF INTEREST

 

The
Investigator and each of the Subinvestigators shall complete and submit FDA Form 1572 to the Company, with annual updates as required
by law.

 

		25.	NOTICES

 

Any
notice or report required under the terms of this Agreement will be sent to the other Party at the following addresses. Any notice will
be deemed to be effective when delivered to the other Party by courier, registered mail (with return receipt), via facsimile, Portable
Document Format (PDF), or email followed by conformational hard copies when requested.

 

For
Company:

[...***...]

Jasper
Therapeutics, Inc.

2200
Bridge Parkway, Ste. 102

Redwood
City, CA 94065

[...***...]

 

For
technical matters:

[...***...]

2200
Bridge Parkway, Ste. 102

Redwood
City, CA 94065

 

For
NIAID:

For
Agreement matters:

NIAID-TTIPO

Attn:
[...***...]

5601
Fishers Lane, [...***...]

Rockville,
Maryland 20852 USA

 

For
Technical matters:

[...***...]

NIAID-LCIM

[...***...]

10
Center Drive

Bethesda,
MD 20814

 

SIGNATURES
BEGIN ON THE NEXT PAGE

 

    	NIAID Sophia No. 2020-0924	Page 21 of 22

    	NIAID Intramural Clinical Trial Agreement (Clinical Center)
Jasper Therapeutics-Division of Intramural Research, NIAID
	NIAID Protocol # [...***...]

    

 

Company
agrees with the terms of this Agreement for the Clinical Trial in accordance with the Protocol designated as Protocol No. JAS-BMT-CP-001
& -002 for JSP-191, the title of which is “A Phase 1 Study to Evaluate the Safety and Tolerability
of Tandemly-purified Allogeneic CD34+CD90+ HSC Administered Following Conditioning with AMG 191 to Achieve Engraftment and Immune
Reconstitution in Patients with SCID”, please have an authorized representative sign below.

 

	FOR NIAID:	 	 
	 	 	 
	/s/ Karyl S. Barron -S	 	July 28, 2020
	Steven M. Holland, M.D.	 	Date
	Director, Division of Intramural Research	 	 
	 	 	 
	National Institute of Allergy and Infectious Diseases	 	 
	National Institutes of Health	 	 
	Department of Health and Human Services	 	 
	 	 	 
	FOR COMPANY:	 	 
	 	 	 
	/s/ Jeet Mahal	 	July 28, 2020
	Jeet Mahal	 	Date
	Chief Financial Officer	 	 
	 	 	 
	Jasper Therapeutics, Inc.	 	 
	2200 Bridge Parkway, Ste. 102	 	 
	Redwood City, CA 94065	 	 
	 	 	 
	COMPANY CLINICAL OPERATIONS  APPROVAL:	 
	 	 	 
	/s/ Janet Hurt	 	July 28, 2020
	Janet Hurt	 	Date
	Vice President, Clinical Operations	 	 
	 	 	 
	Jasper Therapeutics, Inc.	 	 
	2200 Bridge Parkway, Ste. 102	 	 
	Redwood City, CA 94065	 	 

 

 

 

	NIAID Sophia No. 2020-0924	Page 22 of 22

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