Document:

Exhibit 10.10

 

Executive Employment Agreement

 

BETWEEN:

 

MDNA Life Sciences Inc.

a corporation duly incorporated under the laws
of the State of Delaware,

(“MDNA”)

 

- and –

 

Robert Poulter,

of Gorham, Ontario, Canada

(the "Executive")

 

WHEREAS:

 

		1.	MDNA is engaged in the business of mitochondrial genomics
research and development of early detection and/or diagnosis and/or prognosis and/or therapies for prostate cancer, bladder cancer,
testicular cancer, skin cancer, melanoma, breast cancer, cervical cancer, endometrial cancer, ovarian cancer, colo-rectal cancer,
lung cancer, and other cancers, endometriosis and other diseases and conditions; and

 

		2.	MDNA and the Executive have agreed to enter into an employment
relationship for their mutual benefit;

 

FOR GOOD AND VALUABLE CONSIDERATION,
the receipt and adequacy of which is acknowledged, the parties agree as follows:

 

		1.	Cancellation of Prior Agreements

 

		(1)	MDNA and the Employee herein agree that this Agreement
constitutes the entire agreement between the parties with respect to the matters contained herein and supersedes any and all prior
and contemporaneous agreements, negotiations, correspondence, undertakings and communications of the parties, oral or written,
with respect to that subject matter.

 

		2.	Duties

 

		(1)	MDNA appoints the Executive to undertake the duties and
exercise the powers as Chief Business Officer and the Executive accepts the position on the terms and conditions set forth in
this agreement.

 

		(2)	Given the rapidly evolving growth of MDNA, the Executive
agrees that his duties, location of employment and reporting relationships may be adjusted at any time, within MDNA’s discretion,
to meet its ongoing business requirements, without any advance notice except as may be required by statute. The Executive agrees
that any such change will not amount to a constructive dismissal.

 

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		(3)	The Executive will be responsible for:

 

		a.	Day-to-day management of MDNA’s license and distribution
deal making.

		b.	Supporting and advising on MDNA’s merger and acquisition
deal making.

		c.	Developing and executing license and distribution deal
strategies that allow the company to fulfill its scientific mission, product vision, corporate revenue objectives, and build shareholder
value.

		d.	Take ultimate relationship management responsibility for
license and distribution deals including oversight of transaction implementation.

		e.	Work with company teams to manage, execute, and implement
license and distribution and other partnering transactions.

		f.	Produce quality deliverables – presentations, term
sheets, agreements, implementation plans.

		g.	Conduct research and analysis to support international
business and corporate development within the firm.

		h.	Provide guidance to the company’s product development
staff as required.

		i.	Forge strong relationships with the industry and the company’s
business partners.

 

		(4)	The Executive will report to the President and Chief Executive
Officer and shall perform such duties and exercise such powers related thereto as may from time to time be assigned to him by
the President and Chief Executive Officer and/or the Board of Directors.

 

		(5)	The Executive acknowledges that the hours of work involved
will vary and be irregular and those hours are required to meet the objectives of MDNA. The Executive agrees to undertake and
diligently perform the duties as may be requested by MDNA and will devote his full working time to carry out those duties in the
interests of MDNA. The Executive also acknowledges that he is in the position of a fiduciary with respect to MDNA and all of its
property and assets, whether tangible or intangible.

 

		(6)	The Executive warrants to MDNA that the performance of
his duties as an employee of MDNA will not breach any agreement or other obligation to keep confidential the proprietary information
of any other party; and he is not bound by any agreement with or obligation to any other party that conflicts with his obligations
as an employee of MDNA. The Executive further warrants that he will not, in the performance of his duties as an employee of MDNA:
improperly bring to MDNA or use any trade secrets, confidential information or other proprietary information of any other party.

 

		3.	Term

 

The Executive's appointment under
this contract shall commence with effect from March 1, 2018 and shall continue until terminated in accordance with the provisions
of clause 8 of this agreement.

 

		4.	Compensation

 

		(1)	The fixed annual remuneration of the Executive for his
active services shall be at the rate of $225,000 US Dollars per annum. The fixed remuneration shall be reviewed by MDNA on an
annual basis.

 

		(2)	In addition to the fixed remuneration, the Executive may,
in the absolute discretion of MDNA, receive from MDNA a bonus payment in respect of a year, which discretionary bonus shall not
exceed up to a maximum of 30% of the fixed remuneration for that year. The Executive’s bonus will be performance based and
based upon pre-defined financial, business and personal objectives for the Executive that will be set and determined by the Board
of Directors. The Executive is only eligible for any bonus while he is an active employee and up to the date of termination of
his employment. No bonus will accrue, be due or payable for any period post-termination.

 

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		(3)	The bonus plan may be revised, amended or cancelled at
the sole discretion of MDNA. MDNA makes no representations or warranties as to the terms, form, nature or content of any future
bonus plan.

 

		(4)	In addition to the fixed remuneration and discretionary
bonus plan, the Executive may, in the absolute discretion of MDNA, receive from MDNA stock options or stock-related grants.

 

		(5)	All taxable amounts set forth in this Agreement are subject
to applicable withholding or source deductions.

 

		5.	Benefits

 

		(1)	Expenses. It is understood and agreed that the Executive
will incur expenses in connection with his duties under this agreement. MDNA will reimburse the Executive for any reasonable business
expenses, in accordance with company policy, provided that the Executive provides to MDNA an itemized written account and receipts
acceptable to MDNA in accordance with the Travel & Expense policies of the corporation.

 

		(2)	Benefit plans. In addition to the compensation outlined
above, the Executive shall participate in all group medical, dental or other such benefit plans (the "Employee Benefits")
which MDNA provides to its employees. MDNA reserves the right to unilaterally revise the terms of the Employee Benefits or to
eliminate any Employee Benefits altogether upon providing the Executive with 90 days' advance written notice of such changes.
Any such changes to the Employee Benefits will be made to the group plan as a whole and will not only affect the Executive. The
Executive agrees that a change made in accordance with this paragraph shall not constitute a constructive dismissal. Benefits
will be provided in accordance with the formal plan documents or policies and any issues with respect to entitlement or payment
of benefits under any of the Employee Benefits will be governed by the terms of such documents or policies establishing the benefit
in issue.

 

		6.	Service

 

		(1)	The Executive, throughout the term of the Executive's appointment,
shall devote his full time and attention to the business and affairs of MDNA and its subsidiaries and shall not, without the consent
in writing of the Board of Directors of MDNA, undertake any other business or occupation or become a director, officer, employee,
contractor or agent of any other company, firm or individual.

 

		(2)	The Executive shall well and faithfully serve MDNA and
its subsidiaries and use his best efforts to promote the interests thereof and shall not disclose the private affairs of MDNA
and its subsidiaries to any person other than the Board of Directors of MDNA or for any purposes other than those of MDNA.

 

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		7.	Vacation

 

The Executive shall be entitled
during each year six (6) weeks' paid vacation. The vacation shall be taken at the time or times acceptable to MDNA, having regards
to the business requirements and subject to the company vacation policies. The Executive shall not be allowed to carry forward
any unused vacation into the next calendar year unless such carry forward is previously approved by MDNA in accordance with the
MDNA Vacation Policy.

 

		8.	Termination of Employment

 

		(1)	The parties understand and agree that the Executive's employment
pursuant to this agreement may be terminated as follows:

 

		a.	by the Executive, at any time, for any reason, on the giving
of ninety (90) days written notice to MDNA (MDNA may waive notice, in whole or in part and if it does so, the Executive's entitlement
to remuneration and benefits pursuant to this agreement will cease on earlier of (i) the date the Executive commences alternate
employment; or, (ii) the date the Executive’s 90 day written notice period expires). The Executive shall not be entitled
to any termination or severance payment but will be entitled to payment of any accrued and unpaid salary earned plus payment for
any accrued and unused vacation entitlement not used up to and including the date of termination, payable in the ordinary course.

 

		b.	by MDNA, in its absolute discretion, without any notice
or pay in lieu thereof, for just cause.
	 	 	For the purposes of this agreement,
"cause" includes, without limitation, the following:

 

		(i)	any material breach of the provisions of this agreement;

		(ii)	conduct of the Executive which brings the Executive or
MDNA into disrepute;

		(iii)	the conviction of the Executive of a criminal offence punishable
by indictment (where such cause is not prohibited by law); and

		(iv)	any and all omissions, commissions or other conduct which
would constitute "cause" at common law.

 

		c.	by MDNA, at its absolute discretion, without cause and
for any reason, by providing the Executive with:

 

		(i)	working notice of termination equal to the greater
of:

 

Twelve (12) months notice. For
the sake of greater clarity, this provision provides that MDNA may terminate the Executive’s employment, without cause and
for any reason, by providing working notice of termination.; or

 

		a)	The minimum termination and, if applicable, severance required
by the provisions of the Ontario Employment Standards Act 2000, S.O., c. 41, as it may from time to time be amended.

 

		(ii)	in lieu of such notice, a lump sum payment equivalent to
your base salary plus an amount equivalent to MDNA monthly cost for Employee Benefits plus an amount equivalent to any accrued
and unused vacation entitlement for the applicable notice period under (i) above; or

 

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		(iii)	in lieu of such notice, a continuance of your base salary
(including any Employee Benefits which may be offered by MDNA if such continuation of benefits are permitted by its carriers)
for a period equal to the applicable notice period under (i) (“termination pay continuation period”); or

 

		(iv)	any combination of (i), (ii) and (iii) above.

 

		d.	During any termination pay continuation period, the Executive
has a duty to seek alternate employment and mitigate his damages. In the event that during any termination pay continuation period,
the Executive secures other employment (including contract or self employment), the Executive shall immediately advise MDNA and
MDNA shall discontinue the payments and benefits in c (ii) and c (iii) above. Thereafter, MDNA shall provide to the Executive
with the equivalent of one-half (50 per cent) of the remaining salary, Employee Benefit equivalent, and vacation entitlement he
would have received to the end of the termination pay continuation period, in a lump sum payment. Under no circumstances will
the Executive receive less than the minimum statutory entitlements under the Ontario Employment Standards Act 2000, S.O.,
c. 41, as it may from time to time be amended. Should the Executive fail to report any income generating position or contract
to MDNA within seven (7) days of securing such a position, all entitlements to termination pay will immediately cease.

 

		e.	It is agreed and understood that the amounts outlined in
(c) above constitute reasonable notice and include any obligation which MDNA may have for pay in lieu of notice and/or severance
pay pursuant to the Ontario Employment Standards Act, 2000, S.O. 2000, c. 41. The Executive agrees to accept the notice
(or pay in lieu of notice) as set out in this clause in full and final settlement of all amounts owing to the Executive by MDNA
on termination, including any payment in lieu of notice of termination, entitlement of the Executive under any applicable statute
and any rights which the Executive may have at common law, and the Executive waives any claim to any other payment or benefits
from MDNA.

 

The above provisions include both
notice of termination and severance pay, whether by statute or common law, and may exceed those terms as defined in the Employment
Standards Act, 2000, S.O. 2000, as amended. The provisions of the Employment Standards Act, 2000, S.O. 2000 as it may
from time to time be amended are incorporated into this Agreement and shall prevail if greater.

 

		(2)	The Executive's employment shall also be terminated upon
his death.

 

		(3)	On termination of employment the Executive shall immediately
resign all offices held (including directorships) with MDNA and its subsidiaries and affiliates and save as provided in this agreement,
the Executive shall not be entitled to receive any payment or compensation for loss of office or otherwise by reason of the resignation.
If the Executive fails to resign as mentioned, MDNA is irrevocably authorized to appoint some person in the Executive's name and
on his behalf to sign any documents or do any things necessary or requisite to give effect to such resignation.

 

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		(4)	The Executive's obligations concerning confidentiality,
intellectual property, non-solicitation and other matters as set out in Schedule A of this agreement shall survive the termination
of the Executive's employment pursuant to this agreement.

 

		9.	Employer's Property

 

The Executive acknowledges that all
items of any and every nature or kind created or used by the Executive pursuant to his employment under this agreement, or furnished
by MDNA to the Executive, and all equipment, credit cards, books, computers, personal digital assistants, records, reports, files,
electronic files, manuals, literature, confidential information or other materials, shall remain and be considered the exclusive
property of MDNA at all times and shall be surrendered to MDNA , in good condition, promptly at the request of MDNA, or in the
absence of a request, on the termination of the Executive's employment with MDNA .

 

		10.	Confidentiality, Intellectual Property, Non-Solicitation
And Other Matters

 

As a term of the Executive’s
employment, he is required to review and sign the enclosed Agreement concerning Confidentiality, Intellectual Property, Non-Solicitation
and Other Matters (attached as Schedule “A”). This Agreement constitutes and forms part of the overall employment
agreement between the Executive and MDNA.

 

		11.	Assignment of Rights

 

The rights which accrue to MDNA under
this agreement shall pass to its successors or assigns. The rights of the Executive under this agreement are not assignable or
transferable in any manner.

 

		12.	Notices

 

		(1)	Any notice required or permitted to be given to the Executive
shall be sufficiently given if delivered to the Executive personally or if mailed by registered mail to the Executive's address
last known to MDNA, or if delivered to the Executive via facsimile or electronic mail.

 

		(2)	Any notice required or permitted to be given to MDNA shall
be sufficiently given if mailed by registered mail to MDNA’s head office at its address last known to the Executive, or
if delivered to MDNA via electronic facsimile or electronic mail.

 

		13.	Severability

 

In the event that any provision or
part of this agreement shall be deemed void or invalid by a court of competent jurisdiction, the remaining provisions or parts
shall be and remain in full force and effect.

 

		14.	Entire Agreement

 

This document constitutes the entire
agreement between the parties with respect to the employment and appointment of the Executive and any and all previous agreements,
written or oral, express or implied, between the parties or on their behalf, relating to the employment and appointment of the
Executive by MDNA, are terminated and cancelled and each of the parties releases and forever discharges the other of and from all
manner of actions, causes of action, claims and demands whatsoever, under or in respect of any agreement.

 

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		15.	Modification of Agreement

 

Any modification to this agreement
must be in writing and signed by the parties or it shall have no effect and shall be void.

 

		16.	Acknowledgement.

 

The Executive acknowledges that:

 

		a.	he has received a copy of this Agreement;

		b.	he has had sufficient time to review and consider this
Agreement thoroughly;

		c.	he has read and understands the terms of this Agreement
and his obligations under this Agreement;

		d.	the restrictions placed upon him by this Agreement are
reasonably necessary to protect MDNA’s proprietary interests and will not preclude the Executive from being gainfully employed
in a suitable capacity following the termination of the Executive’s employment, given his knowledge and experience;

		e.	he has been given an opportunity to obtain independent
legal advice, or such other advice as he may desire, concerning the interpretation and effect of this Agreement and the Employee
has obtained such advice; and

		f.	this Agreement is entered into voluntarily by him.

 

		17.	Further Assurances

 

The parties shall from time to time
execute and deliver all such further documents and do all acts and things as the other party may reasonably require to effectively
carry out or better evidence or perfect the full intent and meaning of this Agreement.

 

		18.	Counterparts

 

This agreement may be executed in
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
instrument. This Agreement may be executed and delivered by facsimile or other electronic means.

 

		19.	Headings

 

The headings used in this agreement
are for convenience only and are not to be construed in any way as additions to or limitations of the covenants and agreements
contained in it.

 

		21.	Governing Law

 

This agreement shall be construed
in accordance with the laws of the Province of Ontario.

 

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IN WITNESS WHEREOF this agreement has
been executed by the parties to it, as follows:

 

SIGNED, SEALED AND DELIVERED

in the presence of:

 

 

	Dated: March 1, 2018	 	/s/ Robert Poulter
	 	 	Robert Poulter
	Witness:	 	 	 
	 	 	 	 
	/s/ Heather Poulter	 	 	 
	Heather Poulter	 	 	 
	Print Name under Signature	 	 	 
	 	 	 	 
	 	 	 	 
	Dated: March 1, 2018	 	 
	 	 	MDNA Life Sciences Inc.
	 	 	“I have authority to bind the company”
	 	 	 	 
	 	 	Name:	Chris Mitton
	 	 	 	 
	 	 	Title:	Chief Executive Officer

 

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SCHEDULE “A” TO EXECUTIVE
EMPLOYMENT AGREEMENT

 

Agreement Concerning Confidentiality, Intellectual
Property, Non-Solicitation and Other Matters

 

BETWEEN:

 

MDNA Life Sciences Inc.

 

(“MDNA”)

 

- AND-

 

Robert Poulter

(“the Employee” or “I”)

 

In my employment with MDNA Life Sciences Inc.
(“MDNA”), I, Robert Poulter, understand that I will be given access to Confidential Information about MDNA and its
affiliated companies, and that I will be entrusted with relationships and connections with MDNA’s clients, suppliers, employees
and others. In consideration of my employment, I acknowledge, understand and agree with MDNA as follows:

 

		1)	Confidential information:

 

		a)	Confidential Information. All Confidential Information
covering the business or affairs of MDNA or its affiliated companies, or all Confidential Information of their clients or suppliers
is the exclusive and confidential property of MDNA, or those parties, as the case may be, and will at all times during and subsequent
to my employment with MDNA be regarded and protected as such by me.

 

		i)	“Confidential Information” means information
in any form, not generally known to the public, disclosed to or acquired by me directly or indirectly from MDNA or any clients,
suppliers, business partners or affiliates of MDNA including, without limitation, through access to MDNA’s place of business
and contact with MDNA’s clients, suppliers, business partners or affiliates during the term of my employment with MDNA,
including, without limitation:

 

		(1)	confidential methods of operation, which include all information
relating to MDNA’s research and development, know-how, processes, marketing programs, services and products, methods, service
systems, security information and systems, and trade secrets;

 

		(2)	information pertaining to any intellectual and industrial
property rights of MDNA and/or its affiliates including information relating to all inventions, designs, ideas, works, creations,
developments, programs, plans, codes, drawings, sketches, compilations of information, analyses, experiments, data, formula, formulations,
specifications, research, know-how, test data, technical data, methods, processes, procedures, techniques, practices, prototypes,
products, (including without limitation parts and accessories hereof) samples, equipment, tools, machines and includes any modifications
or improvements hereto;

 

		(3)	any information regarding or relating to the use of mitochondrial
genomics research and development of early detection and/or diagnosis and/or prognosis and/or therapies for prostate cancer, bladder
cancer, testicular cancer, skin cancer, melanoma, breast cancer, cervical cancer, endometrial cancer, ovarian cancer, colo-rectal
cancer, lung cancer, and other cancers, endometriosis and other diseases and condition;

 

     

     

    

  

		(4)	personal information, including identification and medical
information regarding participants in research studies being performed by MDNA and once MDNA products are commercially available,
individuals undergoing detection, diagnostic and/or treatment procedures;

 

		(5)	any source of supply of products, raw materials, terms
available from suppliers and information provided or related to suppliers of products, raw materials or services, and any terms
of any contractual arrangements between MDNA and/or its affiliates and the supplier of any products, raw materials or services;

 

		(6)	all information regarding MDNA’s clients, including
customer lists, contracts, prices, invoices, computer printouts, contact information and other similar information;

 

		(7)	all information concerning MDNA’s potential customers
and clients, including mailing lists, prospects, contact information, and other similar information;

 

		(8)	any information about the business of MDNA which is not
known to the public or competitors, or any other information which gives MDNA an opportunity to obtain an advantage over competitors
who do not know such information;

 

		(9)	financial information, including MDNA’s costs, sales,
income, profits and other similar information;

 

		(10)	business opportunities, including all clients, suppliers,
business partners, ventures considered by MDNA, whether or not such opportunities are pursued;

 

		(11)	personnel information, including the names of employees
and independent contractors and applicable remuneration and benefit policies;

 

		(12)	computer programs and procedures relating to business of
MDNA or its affiliates and other similar information;

 

		(13)	all information relating to the research, developments,
systems, operations, of MDNA or its business partners or affiliates;

 

		(14)	all information received from any clients, suppliers, business
partners or affiliates of MDNA;

 

		(15)	all information specifically designated by MDNA as confidential;

 

		(16)	all information specifically designated by a client, supplier,
business partner or affiliate of MDNA as confidential;

 

		(17)	all information required to be maintained in confidence
by MDNA pursuant to an agreement with a client, supplier, business partner, employee, independent contractor or any entity or
person or arising by operation of law.

 

		(18)	vendor names and other vendor information, purchasing and
internal cost information, internal services and operational manuals, and the manner and method of conducting the business of
MDNA or its affiliates;

 

		(19)	marketing and development plans, price and cost data, price
and fee amounts, pricing and billing policies, quoting procedures, negotiations of contracts, marketing techniques and methods
of obtaining business, forecasts and forecast assumptions and volumes, and future plans and potential strategies of MDNA that
have been or are being discussed; and

 

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		(20)	any other information that becomes known to me as a result
of employment that I, acting reasonably, believe is confidential information or that MDNA takes measures to protect.

 

		b)	“Confidential Information” does not include:

 

		i)	the general skills and experience gained during my employment
or engagement with MDNA that I could reasonably have been expected to acquire in similar employment or engagements with other
companies;

 

		ii)	anything which I can demonstrate by documented evidence
was known to me prior to the date of the commencement of my employment or involvement with MDNA; and/or

 

		iii)	information publicly known without breach of this Agreement
or similar agreements;

 

		2)	Receipt of Confidential Information: I acknowledge
that during the course of my employment with MDNA, I will acquire or have access to Confidential Information of MDNA, and that
such Confidential Information could be used to the detriment of MDNA. Accordingly, I covenant and agree that during the course
of my employment with MDNA and at all times after the termination of my employment with MDNA, regardless of how that termination
should occur and whether or not I have any claims against MDNA I shall:

 

		a)	at all times during and subsequent to my employment with
MDNA, not disclose Confidential Information to any Person (other than as necessary in carrying out my duties on behalf of MDNA)
without first obtaining MDNA’s consent. I will take all reasonable precautions to prevent disclosure, inadvertent or otherwise,
of any Confidential Information. This prohibition includes, but is not limited to, disclosing or confirming the fact that any
similarity exists between the Confidential Information and any other information.

 

		b)	not gratuitously or otherwise, use any Confidential Information
for my own purposes or benefit or for the purposes or benefit of any other person other than MDNA;

 

		c)	not divulge, communicate or disclose to any person any
such Confidential Information other than such disclosures as are required to be made by me in the due and proper performance of
my duties of employment with MDNA or, are otherwise consented to in writing by MDNA or are required by law;

 

		d)	not copy, reproduce, store, extract or make notes of any
Confidential Information other than in the due and proper performance of my duties of employment with MDNA or without first obtaining
MDNA’s consent. I will take all reasonable precautions to prevent inadvertent use, copying, transfer or destruction of any
Confidential Information.

 

		3)	Mandatory Disclosure of Confidential Information:
In the event that I shall be legally compelled or required by a court of competent jurisdiction to disclose all or any part of
the Confidential Information, I shall, if legally able, immediately notify MDNA, so that MDNA is afforded an opportunity to dispute
the requirement. If a sealing order, a protective order or other appropriate remedy is not obtained by MDNA before such disclosure
is required, I shall disclose only those portions of the Confidential Information in question which I am advised by written opinion
of counsel (to be addressed to me and to MDNA) that I am legally required to disclose and will exercise my best efforts to obtain
reliable assurances that confidential treatment will be accorded such Confidential Information.

 

		4)	Ownership of Confidential Information: I hereby
acknowledge and confirm that the Confidential Information is and shall remain the sole and exclusive property of MDNA and its
affiliates or the clients, suppliers or business partners, as the case may be, regardless of whether such Confidential Information
was generated or developed by me (acting alone or in conjunction with others) or by others and regardless of whether such Confidential
Information was generated at MDNA’s premises or using MDNA’s resources.

 

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		5)	Return of Confidential Information: I agree that,
upon any request by MDNA from time to time during my employment with MDNA and upon termination of my employment with MDNA, I shall
promptly return and deliver to MDNA all tangible embodiments of any Confidential Information in my possession or under my control
(including, without limitation, documents, manuals, research results, drawings, letters, blueprints, lists, data, records, computer
programs, codes, materials, prototypes, products, samples or reports and any notes or analysis hereof - whether prepared by me
alone or in conjunction with others or prepared by others) and all copies of reproductions of same and I shall delete and copies
or reproductions of such Confidential Information from all retrieval systems and data bases (other than those belonging to MDNA)
or destroy same as directed by MDNA. Within three (3) Business Days after the termination of my employment on any basis, I will
promptly deliver to MDNA all property of or belonging to or administered by MDNA including without limitation all Confidential
Information that is embodied in any physical or ephemeral form, whether in hard copy or on magnetic media, and that is within
my possession or under my control. I shall within five business days of the termination of my employment with MDNA deliver to
MDNA, upon MDNA’s written request and at MDNA’s cost, a statutory declaration confirming that I have complied with
the provisions of this paragraph.

 

		6)	Obligations Cumulative: The obligations contained
herein are in addition to, and not in substitution for, any other obligations of confidentiality which I may have to MDNA and/or
its affiliates (including, without limitation, contractual, fiduciary or otherwise) arising out of my employment with MDNA or
the performance by me of my duties of employment or otherwise.

 

		7)	Obligations Continue. My obligations under sections
1 – 6 inclusive are to remain in effect in perpetuity and will exist and continue in full force and effect notwithstanding
any breach or repudiation or any alleged breach or repudiation of this Agreement by MDNA.

 

Intellectual Property 

 

		8)	Definition: For the purposes of this Agreement, “Intellectual
Property” shall mean all right, title and interest, including, but not limited to, all patent, trade-mark, copyright,
industrial design, trade secrets and confidential information rights, in and to any and all work product, including, without limitation,
any and all inventions, improvements, discoveries, developments, materials, documentation, ideas, concepts, specifications, research,
know-how, test data, samples, plans, software, hardware, circuit topography, mask works, formulae, formulations, designs, artwork,
literary material, procedures, techniques, practices or processes, of a copyrightable, patentable or proprietary nature, in any
material form whatsoever (the “Work Product”), whether completed or not, conceived, created or developed by me, either
solely or jointly with others, for MDNA, whether developed before or after execution of this Agreement, and, any Work Product
that is created from or by using, or otherwise contains, any MDNA Confidential Information and any Work Product that is created
with the use of MDNA’s time, equipment, materials, supplies or facilities, and includes any Work Product that is perfected
or reduced to specific form after my relationship with MDNA has expired or been terminated.

 

		9)	Disclosure of Intellectual Property: I agree to
promptly and fully disclose to MDNA or its nominee, any and all Work Product. I will keep complete, accurate and authentic notes,
reference materials, data and records of all Intellectual Property in the manner and form requested by MDNA. Upon their creation,
all such notes, reference materials, data and records shall be deemed to be MDNA Confidential Information.

 

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		10)	Ownership of Intellectual Property: I hereby confirm,
acknowledge and agree that all Intellectual Property shall be the sole and exclusive property of MDNA, or its nominee, and may
be registered or otherwise protected by MDNA in MDNA’s, or it’s nominee’s, name. I acknowledge and agree that
I will not retain any right, title or interest in and to any Intellectual Property.

 

		11)	Assignment: I hereby irrevocably transfer, assign
and set over to MDNA any and all worldwide right, title and interest in and to the Work Product including all Intellectual Property,
free and clear of any and all liens, claims, security interest, encumbrances or equities of any kind or nature. I hereby waive
any and all moral rights I may have in and to any Intellectual Property in favor of MDNA and any entity or party claiming rights
through MDNA.

 

		12)	Agreement to Execute Documents and Perform Acts:
Upon the request of MDNA, either during or after this Agreement and any employment or working relationship, I will execute all
further documents and papers and do all further acts and things pertaining to such Intellectual Property and the copyright, patent,
trade-mark, trade secret or other protection hereof as MDNA may from time to time request.

 

		13)	Cooperation: I agree to reasonably assist MDNA at
their request and expense, in:

 

		(i)	Making patent applications for Intellectual Property, including
instructions to lawyers and/or patent agents as to the characteristics of my Work Product in sufficient detail to enable the preparation
of a suitable patent specification, to execute all formal documentation incidental to an application for letters patent and to
execute assignment documents in favour of MDNA for such applications;

 

		(ii)	Making applications for all other forms of intellectual
property registration relating to my Work Product.

 

		(iii)	Prosecuting and maintaining the patent applications and
other Intellectual Property; and

 

		(iv)	Registering, maintaining and enforcing the patents and
other Intellectual Property registrations.

 

		14)	Assistance with Proceedings: I further agree to
reasonably assist MDNA, at MDNA’s request and expense, in connection with any defense to an allegation of infringement of
another person’s intellectual property rights, claim of invalidity of another person’s intellectual property rights,
opposition to, or intervention regarding, an application for letters patent, copyright or trademark or other proceedings relating
to intellectual property or applications for registration thereof.

 

		15)	No Third Party Intellectual Property: I represent
and warrant that:

 

		(a)	I shall not utilize or incorporate any open software in
any Intellectual Property or Work Product, or any part thereof without first disclosing the use of any such software to MDNA;

 

		(b)	any and all Intellectual Property shall not:

 

		(i)	to my knowledge, violate any third party intellectual property
rights;

 

		(ii)	contain, incorporate, derive from or otherwise be based
on any third party intellectual property rights;

 

    	 	5 	 

     

    

 

		(c)	I have not been, am not and will not be, by performing
my obligations hereunder in violation of any term of any employment, invention disclosure or assignment, confidentiality or non-competition
agreement or other restrictive covenant I have with any other person or arising under any order.

 

		16)	Restrictive Covenants

 

		a)	Acknowledgement: I acknowledge that by reason of
my employment with MDNA, I will or may develop a close working relationship with MDNA and/or its affiliates and/or their clients,
suppliers, business partners, employees and others, and I will gain a knowledge of MDNA’s methods of operation and hereby
agree that my employment by MDNA will give me access to Confidential Information and to relationships and connections with MDNA’s
clients, suppliers, business partners, employees, consultants, contractors and others (“Relationships”), and my knowledge
of Confidential Information and/or my having Relationships will enable me to put MDNA at a significant competitive disadvantage
if I am employed or engaged by or become involved in a competitive business that sells or otherwise provides any products or services
which are the same as or similar to, or in any way competitive with, any products or services, offered, sold or provided by MDNA
(“Competitive Business”).

 

		b)	Non Competition during employment: I hereby agree
that I shall not, directly or indirectly, without the prior written consent of MDNA, at any time during my employment either individually
or in partnership or jointly or in conjunction with any person as principal, agent, employee, shareholder (other than a holding
of shares listed on a Canadian or United States stock exchange that does not exceed 5% of the outstanding shares so listed) or
in any other manner whatsoever carry on or be engaged in or be concerned with or interested in or advise, lend money to, guarantee
the debts or obligations of or permit my name or any part thereof to be used or employed by any person, firm or corporation engaged
in, concerned with or interested in a business which provides services or products which are competitive to the business of MDNA
or any other similar competing business which may start up.

 

		c)	Non Solicitation: I shall not, directly or indirectly,
without the prior written consent of MDNA, at any time during my employment and for a period of 12 months following the termination
of my employment for whatever reason, with or without cause:

 

		i)	either individually or in partnership or jointly or in
conjunction with any person as principal, agent, employee, shareholder (other than a holding of shares listed on a Canadian or
United States stock exchange that does not exceed 5% of the outstanding shares so listed) or in any other manner whatsoever solicit,
induce or endeavour to induce any employee, consultant or agent of MDNA or any of its subsidiaries to leave his or her employment;

 

		ii)	either individually or in partnership or jointly or in
conjunction with any person as principal, agent, employee, shareholder (other than a holding of shares listed on a Canadian or
United States stock exchange that does not exceed 5% of the outstanding shares so listed) or in any other manner whatsoever employ
or attempt to employ or assist any person to employ any employee of MDNA or any of its subsidiaries;

 

		iii)	either individually or in partnership or jointly or in
conjunction with any person as principal, agent, employee, shareholder (other than a holding of shares listed on a Canadian or
United States stock exchange that does not exceed 5% of the outstanding shares so listed) or in any other manner whatsoever solicit,
attempt to solicit, contact, induce, canvas, continue to conduct or have business dealings or interfere with MDNA’s relationships
or assist any third party in soliciting, attempting to solicit, contacting, inducing, conducting or having business dealings or
interfering with MDNA’s relationships with any customer which to my knowledge is a customer of MDNA at the date of termination
of this Agreement (“current customer”) or any person, firm, corporation or entity that was, to my knowledge, a customer
of MDNA or any of its subsidiaries during a period of 12 months prior to the date of termination of this Agreement (“recent
customer”) or, to my knowledge, any person, firm or corporation that has been pursued as a prospective customer of MDNA
or any of its subsidiaries at any time during a period of 12 months prior to the date of such termination (“prospective
customer”), for the purpose of selling or otherwise providing to such customer any early detection of cancer test or related
diagnosis or prognosis or therapy products or services which are the same as or similar to, or in any way competitive with any
services or products offered, sold or provided by MDNA or its subsidiaries to that customer or generally.

 

    	 	6 	 

     

    

  

		d)	It is the intent of these restrictive covenants provisions
that if the foregoing covenants are found to be unreasonable to any extent by a court of competent jurisdiction adjudicating upon
the validity of the covenants, whether as to the scope of the restriction, the area of the restriction or the duration of the
restriction, then such restriction shall be reduced to that which is in fact declared reasonable by such court, or a subsequent
court of competent jurisdiction, requested to make such a declaration.

 

		17)	Obligations Remain in Effect.  My obligations under
this Agreement will continue in full force and effect despite any breach or repudiation of this Agreement or my employment agreement
(including my wrongful dismissal) by MDNA. The existence of any claim I may have or assert against MDNA will not constitute a
defence to the enforcement by MDNA of this Agreement.

 

		18)	Independent and Severable Provisions. Each of the
covenants made by me and each of the provisions in this Agreement will be construed as being an agreement independent of any other
covenants by me and any other provisions in this Agreement. If any covenant or provision is determined to be void or unenforceable,
in whole or in part, it will not affect or impair the validity of any other covenant or provision.

 

		19)	Injunction.  I acknowledge that the restrictions
set out herein are reasonable and are included to protect the legitimate business interests of MDNA and that in addition to any
claim for damages or other equitable relief, MDNA shall be entitled to an injunction and its costs of such an injunction as the
only effective remedy to protect MDNA’s rights and property against any continuing or future breach by me of the covenants
set out in this Agreement.

 

		20)	Other Agreements. This Agreement contains the entire
agreement between me and MDNA relating to the matters covered by this Agreement. If there is any conflict or inconsistency between
the provisions of any other agreement and this Agreement, the provisions of the agreement that provide the broadest enforceable
protection to MDNA will govern and prevail. No amendment or waiver of this Agreement by MDNA will be binding unless it is in writing
and signed by MDNA. No waiver of any provision of this Agreement will constitute a waiver of any other provision or a continuing
waiver unless expressly provided.

 

		21)	Counterparts

 

This agreement may be executed in
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
instrument. This Agreement may be executed and delivered by facsimile or other electronic means, including email.

 

		22)	MDNA as Trustee. MDNA is constituted the trustee
of my covenants and obligations under this Agreement for itself, its affiliates and its customers, from time to time, and will
hold and enforce these covenants and obligations on its own behalf and on their behalf.

 

		23)	Waiver: Any party’s failure at any time to
require strict performance by the other party or any of the provisions hereof shall not waive or diminish that party’s right
thereafter to demand strict compliance therewith or with any other provision. Waiver of any default shall not waive any other
default. Both parties’ rights hereunder are cumulative and not alternative.

 

    	 	7 	 

     

    

  

		24)	Modification of Agreement: Any modification of this
Agreement must be in writing and signed by both parties or it shall have no effect and shall be void.

 

		25)	Governing Law: This Agreement shall be governed
by and construed in accordance with the laws of the Province of Ontario.

 

		26)	Headings: The headings and other captions in this
Agreement are for convenience and reference only and are not to be construed in any way as additions or limitations of the covenants
and agreements contained in the Agreement.

 

		27)	Acknowledgements

 

		a)	I have received a copy of and have had sufficient time
to review and consider this Agreement.

 

		b)	I have been given an opportunity to obtain and have obtained
legal and any other necessary advice concerning the effect of this Agreement.

 

		c)	I have read and understood the terms of this Agreement
and my obligations under this Agreement.

 

		d)	I have not been coerced in any manner into signing this
Agreement and have not signed this Agreement under duress.

 

		e)	There have been no representations made to me by or on
behalf of MDNA leading to my execution of this Agreement except as contained in this Agreement.

 

		f)	I accept that the restrictions placed upon me by this Agreement
are reasonably necessary to protect MDNA’s interests, the Confidential Information, MDNA’s Relationships and the interests
of MDNA’s clients, suppliers, business partners and employees. The restrictions will not preclude me from being gainfully
employed in a suitable capacity following any Termination of my employment with MDNA, given (among other things) my general knowledge
and experience.

 

    	 	8 	 

     

    

  

	Dated: March 1, 2018	 	/s/ Robert Poulter
	 	 	Robert Poulter
	Witness:	 	 
	 	 	 
	/s/ Heather Poulter	 	 
	Heather Poulter	 	 
	Print Name under Signature	 	 
	 	 	 
	 	 	 
	Dated: March 1, 2018	 	 
	 	 	MDNA Life Sciences Inc.
	 	 	“I have authority to bind the company”

 

	 	 	Name:	Chris Mitton
	 	 	 	 
	 	 	Title:	Chief Executive Officer

 

    	 	9Exhibit 10.11

   

	Dated 	2020

 

 

 

Lease

 

relating to

 

Suite/Unit R.01.24, R.01.25,
R.01.45 The Biosphere

Draymans Way

Newcastle Helix

Newcastle upon Tyne

NE4 5BX

 

between

 

(1) THE COUNCIL OF THE CITY
OF NEWCASTLE UPON TYNE

 

and

 

(2) MDNA LIFE SCIENCES (UK)
LIMITED

 

Assistant
Director Legal Services

Civic
Centre

Newcastle
upon Tyne

NE1
8QH

 

 

 

THIS LEASE
dated the      day of              20

 

    	 	-2-	 

     

    

 

Made between

 

		(1)	The Council of the City of Newcastle Upon Tyne of Civic Centre, Barras Bridge, Newcastle Upon
Tyne, NE1 8QH; and

 

MDNA LIFE SCIENCES (UK) LIMITED,
Company number 05386828, whose registered office is at B3 Kingfisher House, Kingsway, Team Valley, Gateshead NE11 0JQ

 

		1.	DEFINITIONS AND GENERAL INTERPRETATION CLAUSES

 

1.1       IN
THIS LEASE the following expressions have the following meanings:

 

	Landlord (“us”, “we”, “our”)  	The Council of the City of Newcastle Upon Tyne of Civic Centre, Barras Bridge, Newcastle Upon Tyne, NE1 8QH
	 	 
	Tenant (“you”, “your”)	MDNA LIFE SCIENCES (UK) LIMITED, Company number 05386828, whose registered office is at B3 Kingfisher House, Kingsway, Team Valley, Gateshead NE11 0JQ
	 	 
	Property	
        All that part of the Building shown edged in
        red on Plan 1 known as Suite/Unit R.01.24, R.01.25, R.01.45 including

         

        (a)       the
        floor and ceiling finishes including the bare concrete/girder/constructional finishes but not any other part of the floor slabs
        and ceiling slabs that bound the Property

        (b)       the
        interior plasterwork and finishes of structural and non-structural exterior walls and/or columns and the interior plasterwork and
        finish of interior structural walls and/or columns;

        I       the
        whole of any interior non-structural walls and/or columns;

        (d)       any
        suspended ceilings (and light fittings within them) and any internal non-structural partitioning which are from time to time in
        any part of the Property

        (e)       all
        additions and improvements to the Property made by you or at your cost;

        (f)       all
        machinery and plant situate within and exclusively serving the Property (excluding fume cupboards and externally vented safety
        cabinets);

        (g)       the
        Service Media within and exclusively serving the Property; and

        (h)       all
        our fixtures, fittings and furniture including but not limited to the items set out in the Inventory;

         

        but excluding:

        (i)       the
        Structure;

        (j)       all
        Service Media and machinery and plant within the Property but not exclusively serving the Property; and

        (k)       fume
        cupboards and externally vented safety cabinets.

 

    	 	-3-	 

     

    

 

	Biosphere Policy 	The policy set out in the Third Schedule
	Building  	Biosphere Newcastle Helix shown edged blue on Plan 2
	CDM Regulations	the Construction (Design and Management) Regulations 2007.
	Common Parts	the areas of the Building shown coloured blue on the Building Floor Plans (excluding the Property and any part of the Building which is capable of being let and occupied) which are from time to time during the Term provided by us for common use and enjoyment by the tenants and occupiers of the Building and all persons expressly or by implication authorised by them.
	Contaminated Land Regime	the contaminated land regime under Part 2A of the Environmental Protection Act 1990 (as amended from time to time) and any statutory instrument, circular or guidance issued under it.
	Deliberate Damage	damage caused deliberately with the intention of causing damage by you or anyone at the Property or on the Common Parts with your express or implied authority.
	End of the Term	The date upon which the Term is determined by any means
	Energy Assessor	an individual who is a member of an accreditation scheme approved by the Secretary of State in accordance with regulation 25 of the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or regulation 30 of the Building Regulations 2010 (SI 2010/2214).
	Energy Performance Certificate	A certificate which complies with regulation 11(1) of the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or regulation 30 of the Building Regulations 2010 (SI 2010/2214)
	
        Enforcing Authority

         
	the relevant regulator for the Property under the Contaminated Land Regime.
	
        Environment

         

         
	the natural and man-made environment including all or any of the following media, namely air, water and land (including air within buildings and other natural or man-made structures above or below the ground) and any living organisms (including man) or systems supported by those media.

 

    	 	-4-	 

     

    

 

	Environmental Law:	all applicable laws, statutes, secondary legislation, bye-laws, common law, directives, treaties and other measures, judgments and decisions of any court or tribunal and legally binding codes of practice and guidance notes (as amended from time to time) in so far as they relate to the protection of the Environment.
	Estate	Newcastle Helix, Newcastle upon Tyne NE4 5BX shown edged red on Plan 3
	Estate Common Parts	
        those parts of the Estate being:

        (a)       Landscaped
        areas not forming part of any demise;

        (b)       Roads
        car parks and footpaths not forming part of any demise;

        (c)       Used
        for the housing or storage of plant used in connection within the Estate

        (d)       Service
        Media serving more than one demise within the Estate

	Fixtures and Fittings	The furniture, fixtures and fitting and any other items set out in the Inventory and Schedule of Condition
	Funding Agreements	(a) a funding agreement dated 13 May 2015 in respect of funding by North East LEP as part of the North East Growth Deal (Local Growth Fund – LGF) from Government, and (b) a funding agreement dated 23 November 2016 made between (1) The Secretary of State for communities and Local Government and (2) Newcastle City Council re grant funding from the European Regional Development fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.
	Hazard Profile Form	A hazard profile form in the form annexed at Appendix 3
	Hazardous Substances 	any material, substance, organism or contaminant which, alone or in combination with others, is capable of causing harm to the Environment or which is likely to cause an actionable nuisance.
	Insured Risks	fire, lightning, explosion, impact by vehicle or animal, earthquake, storm or flood, burst pipes and apparatus, riot, civil commotion, strikes, locked out workers, persons taking part in labour disturbances, theft involving forcible and violent entry or exit, malicious persons, aircraft, terrorism and such other risk against which we may reasonably insure form time to time, and Insured Risk means any one of the Insured Risks.

 

    	 	-5-	 

     

    

  

	Interest Rate	Interest at the base rate from time to time of the Bank of England, or if that base rate stops being used or published then at a comparable commercial rate reasonably determined by us
	Inventory and Schedule of Condition	evidence of the fixtures, fittings furnishings and furniture provided by us to you upon grant of this Lease, together with a description of the condition of the same, as detailed in the combined Schedule of Condition and Inventory attached to this Lease at Appendix 1.
	LTA 1927	Landlord and Tenant Act 1927
	LTA 1954	Landlord and Tenant Act 1954
	LTCA 1995	Landlord and Tenant (Covenants) Act 1995
	Laboratory Decontamination Certificate	certification from you (in the form annexed at Appendix 4) of the decontamination of the Property in compliance with the principles of good laboratory practice and in compliance with all statutory requirements including the requirements of the Health and Safety Executive at the time of the preparation of the environmental assessment. which demonstrates that the Property is free from Hazardous Substances or other contamination and is otherwise in a form acceptable to the us acting reasonably.
	Lettable Unit	a floor or part of a floor of the Building other than the Property, that is capable of being let and occupied.
	Manager	any managing agent, team, individual or in-house person or persons employed by us, or by managing agents themselves or otherwise retained by us to act on our behalf to budget for, forecast, procure, manage, account for, provide and otherwise administer any of the Building or the Services.
	Permitted Use   	Any use within the Biosphere Policy
	Plans	
        The plans annexed to this lease and referred
        to as:

        Plan 1: the Property

        Plan 2: the Building

        Plan 3: the Estate

        Building Floor Plans:

        Tenant Lease Plan Level LG

        Tenant Lease Plan Level 00

        Tenant Lease Plan Level 01

        Tenant Lease Plan Level 02

        Tenant Lease Plan Level 03

        Tenant Lease Plan Level 04

        Tenant Lease Plan Level 05

 

    	 	-6-	 

     

    

  

	Planning Acts 	the Town and Country Planning Act 1990 the Planning (Hazardous Substances) Act 1990 the Planning (Listed Buildings and Conservation Areas) Act 1990 the Planning (Consequential Provisions) Act 1990 and the Planning and Compensation Act 1991 and all statutes regulations and orders included by virtue of clauses 1.3 and 1.4
	Reinstatement Cost	the full cost of reinstatement of the Building as reasonably determined by us from time to time, taking into account inflation of building costs and including any costs of demolition, site clearance, site protection, shoring up and any other work to the Building that may be required by law and any VAT on any such costs.
	
        Rent  

         
	£38,420 per annum (exclusive of VAT) commencing on the Rent Start Date, payable monthly in advance on the Rent Payment Dates  
	
        Rent Payment Dates  
	
        the first day of each month during
the Term 

	Rent Start Date  	 
	
        Reservations  
	the rights reserved to us over the Property set out in the Second Schedule
	Rights	the rights granted to you set out in the First Schedule.
	Service Media	the mechanical electrical heating air-conditioning and plumbing installations and lifts serving the Building and the Property including pipes sewers drains mains ducts gutters watercourses wires cables channels flues and all conducting media structures machinery and equipment ancillary to those media.
	Services	the services detailed in clause 4
	Structure	The structural parts of the Building (other than the Property, the Lettable Units and the Common parts), including without prejudice to the generality of the foregoing the roofs of the building the foundations and floor slabs the structural concrete frame and concrete encasings the structural concrete floors and the structural elements of the decks and balconies (but not the wearing surface or any other part of them comprised in a Lettable Unit) the external walls comprising pre-cast concrete cladding and curtain walls and external retaining walls of and in relating to the Building and the doors, windows and their frames fittings and glass in the external walls of the Building.
	
        Surveyor  

         
	our chartered surveyor (and where making any decision or estimation he will be acting as an expert and not an arbitrator and his decision shall be final).
	Term  	
        A term of years from and including

        2020 and expiring at midnight on 16 December
        2023

 

    	 	-7-	 

     

    

 

	Third Party Rights	all rights, covenants and restrictions affecting the Building including the matters referred to at the date of this lease in the property register and the charges register of title number TY547413.
	VAT	value added tax chargeable under the Value Added Tax Act 1994 or any similar replacement or additional tax.

 

1.2       Whenever
you are more than one person, all your obligations can be enforced against all of the persons who are tenants jointly and against
each individually.

 

1.3       A
reference to laws in general is a reference to all local, national and directly applicable supra-national laws as amended, extended
or re-enacted from time to time and shall include all subordinate laws made from time to time under them and all orders, notices,
codes of practice and guidance made under them.

 

1.4       A
reference to particular legislation is to that legislation as amended, consolidated or re-enacted from time to time and all subordinate
legislation made under it from time to time.

 

1.5       A
right reserved to us to enter the Property extends to anyone we authorise to enter and includes the right to bring workmen and
appliances onto the Property for the stated purpose.

 

1.6       Authority
given to a person to enter the Property after giving notice, extends, if the circumstances justify it (for example, in case of
emergency), to entry after giving less notice than specified or without giving any notice.

 

1.7       Words
using the masculine gender include the feminine and the neuter and words using the singular include the plural (and vice versa).

 

1.8       Unless
the context otherwise requires, any words following the terms including, include, in particular, for example or any similar expression
shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding
those terms.

 

1.9       A
reference to this lease, except a reference to the date of this lease or to the grant of this lease, is a reference to this deed
and any deed, licence, consent, approval or other instrument supplemental to it.

 

1.10       The
Schedules form part of this agreement and shall have effect as if set out in full in the body of this agreement. Any reference
to this agreement includes the Schedules.

 

1.11       Except
where a contrary intention appears, a reference to a clause of Schedule is a reference to a clause of, or Schedule to, this lease
and a reference in a Schedule to a paragraph is to a paragraph of that Schedule. Clause, Schedule and paragraph heading shall not
affect the interpretation of this lease.

 

    	 	-8-	 

     

    

 

1.12       A
reference to the us/Landlord includes a reference to the person entitled to the immediate reversion to this lease. A reference
to you/the tenant includes a reference to your successors in title and assigns. A reference to a guarantor is a reference to any
guarantor of the tenant covenants of this lease including a guarantor who has entered into an authorised guarantee agreement.

 

1.13       A
person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).

 

1.14       The
expressions landlord covenant and tenant covenant each has the meaning given to it by the LTCA 1995.

 

1.15       Any
obligation in this lease on you not to do something includes an obligation not to agree to or suffer that thing to be done and
an obligation to use best endeavours to prevent that thing being done by another person.

 

1.16       Unless
the context otherwise requires, reference to the Building, the common parts, a Lettable Unit and the Property are to the whole
and any part of them or it.

 

1.17       The
expression neighbouring property does not include the Building.

 

1.18       A
reference to writing or written excludes faxes and e-mail.

 

1.19       A
working day is a day other than a Saturday, Sunday or public holiday in England.

 

		2.	LETTING

 

		2.1.	We let the Property to you for the Term together with the Rights excepting and reserving to us
the Reservations.

 

		2.2.	The implied covenants for title are modified so that:

 

		(a)	The covenant set out in section 2(1)(b) of the Law of Property (Miscellaneous Provisions) Act 1994
(LP(MP)A 1994) shall not extend to costs arising from your failure to:

		(i)	Make proper searches; or

		(ii)	Raise requisitions on title or on the results of your searches before the date of this Lease; and

		(b)	the covenant set out in section 3(3) of the LP(MP)A 1994 shall extend only to charges or encumbrances
created by us.

 

		2.3.	We grant the Lease to you free from encumbrances other than:

		(a)	The Third Party Rights;

		(b)	Any matters discoverable by inspection of the Property before the date of this agreement;

		(c)	Any matters which we do not and could not reasonably know about;

    	 	-9-	 

     

    

 

		(d)	Any matters, other than financial charges, disclosed or which would have been disclosed by the
searches and enquiries that a prudent tenant would have made before entering into this agreement;

		(e)	Public requirements;

		(f)	Any matters which are, or (where the Lease will not be registered) would be, unregistered interests
which override first registration under Schedule 1 to the Land Registration Act 2002; and

Any planning agreement

		2.4.	You are deemed to have full knowledge of the matters referred to in clause 2.3 and shall not raise
any enquiry, objection, requisition or claim in respect of any of them.

 

		2.5.	You must pay to us:

 

		2.5.1	The Rent, without any deduction or set off. The first payment of Rent shall be for the period from
and including the Rent Start Date to the day before the following Rent Payment Date;

		2.5.2	VAT on any sums payable under this Lease;

		2.5.3	Interest in accordance with clause 6.4; and

		2.5.4	Any other sums owing under this Lease.

 

These payments are all reserved
as rent and are together known as rents.

 

		3.	YOUR OBLIGATIONS

 

Throughout the Term you
must:

 

		3.1	RENTS AND OUTGOINGS

 

		3.1.1.	Pay the rents on the days and in the manner set out in this Lease, and not exercise or seek to
exercise any right or claim to withhold rents, or any right of claim to legal or equitable set-off.

 

		3.1.2.	If we require you to do so in writing, pay the rents by direct debit, banker’s order or credit
transfer to any bank account in the United Kingdom that we nominate from time to time.

 

		3.1.3.	You shall pay all present future rates, taxes and other impositions payable in respect of the Property,
its use and any works carried out there, other than:

		(a)	Any taxes payable by us in connection with any dealing with or disposition of the reversion to
this lease; or

		(b)	Any taxes, other than VAT and insurance premium tax, payable by us by reason of the receipt of
any other rents due under this lease.

 

		3.1.4.	If any such rates, taxes or other impositions are payable in respect of the Property together with
other land (including any other part of the Building) you shall pay a fair proportion of the total.

 

    	 	-10-	 

     

    

 

		3.1.5.	You shall not make any proposal to alter the rateable value of the Property or that value as it
appears on any draft rating list, without our approval.

 

		3.1.6.	You shall comply with all laws and with any recommendations of the relevant suppliers relating
to the use of the supply and removal of electricity, telecommunications and the data services to or from the Property.

 

		3.1.7.	You shall pay all charges in respect of the electricity, heating and cooling supply to the Property
and telephone calls attributable to the Property to us within 14 days of written demand.

 

		3.1.8.	You shall comply with all reasonable regulations we may make from time to time in connection with
the use of any conduits, structures or other items not on the Building but used or capable of being used by the Building in common
with other land.

 

		3.2.	USE

 

		3.2.1.	Use the Property only for the Permitted Use and not for any activities which are dangerous, offensive,
noxious, noisome, illegal or immoral, or which are or may become a nuisance or annoyance to us, or to the owner or occupier of
any neighbouring property.

 

		3.2.2.	Do all things in relation to the Property or their use which are required in order to comply with
legislation regardless of whether such requirements are imposed on us, you or any other tenant or occupier.

 

		3.2.3.	Comply with relevant legislation in relation to your use of the Common Parts, the Building and
the Estate Common Parts.

 

		3.2.4.	Not overload the Property or any Service Media serving the Property.

 

		3.2.5.	Comply with the Biosphere Policy or any amendment, replacement or variation of the Biosphere Policy
which we make from time to time (provided that if we change the Biosphere Policy, we will act reasonably and notify you of any
changes).

 

		3.2.6.	Not apply for planning permission in relation to the Property.

 

		3.2.7.	Nothing in this Lease shall imply or warrant that the Property may lawfully be used under the Planning
Acts for the Permitted Use (or any purpose subsequently authorised).

 

    	 	-11-	 

     

    

 

		3.3.	REPAIR, MAINTENANCE AND DECORATION

 

		3.3.1.	Keep the Property (including the decorations and floor coverings) clean and tidy and in good repair
and condition provided that you are not obliged to keep the Property in any better state of repair than is evidenced in the Schedule
of Condition (except in respect of damage covered by the Insured Risks unless the insurance policy for the Building shall be voided
or payment of the policy monies refused as a result of any act or default on your part, or on the part of your employees, servants,
agents or visitors, or where the Property is damaged other than by Deliberate Damage and other than by an Insured Risk).

 

		3.3.2.	Where we have agreed with you that we shall carry out your obligations under clause 3.3.1 on your
behalf, you agree to pay to us the cost of doing so on demand.

 

		3.3.3.	Keep and use the Property in accordance with the principles of good laboratory practice where appropriate
and all applicable statutory provisions, laws and regulations as amended from time to time, and in accordance with regulatory standards
and requirements pursuant to the Control of Substances Hazardous to Health Regulations 2002 (COSHH)..

 

		3.3.4.	Immediately prior to the End of the Term, provide us with a Laboratory Decontamination Certificate
at your own expense.

 

		3.4.	ALTERATIONS

 

		3.4.1.	Not make any alteration to the Property or the Service Media.

 

		3.4.2.	Any internal alterations to the Property which you request (of which we reasonably approve) shall
be made by us and you shall pay us the proper cost of these.

 

		3.4.3.	Pay us the proper cost of removal (by us) of all alterations made during or before the Term at
the End of the Term if we require reinstatement.

 

		3.4.4.	Not deface or injure the Property in any way whatsoever.

 

		3.4.5.	Not carry out any alteration to the Property which would, or may reasonably be expected to, have
an adverse effect on the asset rating in any Energy Performance Certificate commissioned in respect of the Property.

 

		3.5.	ADVERTISEMENTS

 

Not exhibit any signboard advertisement
nameplate or placard on the Property or any part of the Building which can be seen from outside the Building, and not to exhibit
any signboard, advertisement, nameplate or placard on the Property without our prior written consent.

 

    	 	-12-	 

     

    

 

		3.6.	ENTRY BY US

 

Permit us and our employees and agents
at all times to enter the Property for the purposes of exercising the Reservations or duties or to view or survey the Property
or the Building or for any reasonable purpose, provided that if we need to enter the Property we will endeavour to do so at a time
acceptable to you, except in case of emergency.

 

		3.7.	NOTICE OF REPAIR

 

Comply promptly and diligently with
any notice which we serve on you requiring you to carry out repairs or decorations in accordance with this Lease. If you do not
carry out the works within one month from the date of the notice (or such other reasonable period as we may state in the notice)
we may carry out the works and you will promptly repay to us the cost of the works together with any Value Added or other tax payable.

 

		3.8.	REPAIRS BY US 

 

Permit us, and all other persons
authorised by us or them with any necessary tools at any reasonable time on three days’ written notice (except in the case
of an emergency when no prior notice will be required) to enter the Property and carry out any repairs replacements additions alterations
and decorations including works to any public utility services to the Building or any adjoining property. In our exercise of this
right, we will cause as little damage as possible and make good damage caused to the Property and to your fixtures fittings chattels
and effects.

 

		3.9.	NOTICES AND ORDERS

 

Immediately give to us a copy of
any notice or order or proposal for a notice or order served on you or the occupier of the Property and if required by us to make
or join in making such application and representations as we may reasonably require.

 

		3.10.	NUISANCES

 

		3.10.1	Not do or bring or leave on the Property any rubbish or anything which may be or become a nuisance
annoyance or inconvenience or which may cause damage pollution or contamination to or interfere with our rights or the rights of
any other occupier of the Building or create any liability on our part provided that you may keep potential Hazardous Substances
at the Property as required for the Permitted Use, but subject always to good laboratory practice, and in compliance with all statutory
requirements including the requirements of the Health and Safety Executive

 

		3.10.2	Be responsible for the safe and lawful disposal of all hazardous waste such as radioactive substances,
clinical, waste, solvents and other Hazardous Substances.

 

		3.10.3	Maintain and keep updated a Hazard Profile Form at all times during the term, and to provide us
with a copy not less than every 6 months during the Term.

 

    	 	-13-	 

     

    

 

		3.11.	INSURANCE 

 

		3.11.1	Not do or fail to do anything which may (without our consent) increase the costs of or which may
make voidable or void any insurance put by us.

 

		3.11.2	In the event of part or whole of the Building being damaged or destroyed by an Insured Risk where
the proceeds of insurance are partially or wholly irrecoverable by reason of any act or omission on your part or by your employees,
servants, agents or visitors you must indemnify us in respect of any increased cost including the cost of reinstating or rebuilding
the Building and /or the Property to the extent that we do not receive the insurance monies by reason of any such act or omission.

 

		3.11.3	Comply with the requirements and recommendations of the insurers relating to the Property and not
interfere with all fire prevention, detection and fighting machinery and equipment.

 

		3.11.4	Not take out any policy of buildings insurance in respect of the Property.

 

		3.11.5	Immediately inform us of any damage or destruction to
the Property or if any matter occurs that any insurer or underwriter may treat as material in deciding whether or on what terms
to insure or to continue to insure the Building and shall give you notice of that matter.

 

		3.11.6	If the Building or any part of it is damaged or destroyed by an Insured
Risk, we shall

 

		(i)	make a claim under the insurance policy effected in accordance with this clause;

 

		(ii)	notify you immediately if our insurer indicates that the Reinstatement Cost will not be recoverable
in full under the insurance policy; and

 

		(iii)	subject to clause 3.11.7, use any insurance money received (other than for loss of rent) and any
money received from you under clause 3.11.2 to repair the damage in respect of which the money was received or (as the case may
be) to rebuild the Building as soon as reasonably practicable.

 

		3.11.7	We shall not be obliged under clause 3.11.6 to repair or
reinstate the Building or any part of it:

 

		(i)	unless and until we have obtained any necessary planning and other consents for the repairs and
reinstatement work; or

 

		(ii)	so as to provide premises or facilities identical in size, quality and layout to those previously
at the Building so long as the premises and facilities provided are reasonably equivalent; or

 

		(iii)	after a notice has been served pursuant to clause 3.11.9 or clause 3.11.10.

 

    	 	-14-	 

     

    

 

		3.11.8	If the Building and/or the means of access to it is damaged or destroyed (other than by Deliberate
Damage) so that the Property is wholly or partly unfit for occupation and use, or the Common Parts are damaged or destroyed so
as to make the Property inaccessible or unusable, then payment of the Rent or a fair proportion of it according to the nature and
extent of the damage, shall be suspended until the earlier of the following:

 

		(i)	the date you can occupy and use the Property in the manner contemplated by this lease prior to
the date of the damage or destruction; and

 

		(ii)	the end of [three] years from the date of damage or destruction.

 

		3.11.9	Subject to clause 3.11.11, we may give you notice terminating the lease with immediate effect if:

 

		(i)	the Property is damaged or destroyed or the Common Parts are damaged or destroyed so as to make
the Property inaccessible or unusable; and

 

		(ii)	we reasonably decide that it is either impracticable or impossible to reinstate the Property and
the Common Parts within three years from the date of the damage or destruction.

 

		3.11.10	You may give us notice terminating this lease with immediate effect (subject to clause 3.11.11)
in either of the following situations:

 

		(i)	where the Property is damaged or destroyed in whole or in part other than by Deliberate Damage
so that it is unfit for occupation or use, or the Common Parts and/or the Estate are damaged or destroyed so as to make the Property
inaccessible or unusable; and

 

		(ii)	is not accessible and/or not fit for occupation and use by the end of three years from the date
of damage or destruction; or

 

		(iii)	where the Property is damaged or destroyed in whole or in part other than by Deliberate Damage
and other than by an Insured Risk or is not covered by our insurance by reason of a limitation in the insurance policy so that
it is unfit for occupation or use, or the Common Parts and/or the Estate are damaged or destroyed so as to make the Property inaccessible
or unusable; and

 

		(iv)	the loss or damage was caused other than by an Insured Risk or is not covered by our insurance
by reason of a limitation in the insurance policy and we have not given you notice within three months of the date of damage or
destruction that we will reinstate the Property at our own cost.

 

    	 	-15-	 

     

    

 

		3.11.11	Any notice to terminate this lease by either us or you under this clause shall be without prejudice
to the rights of either party for breach of any of the covenants in the lease.

 

		3.11.12	If this lease is terminated by either us or you under this clause, then any proceeds of the insurance
effected by us shall belong to us.

 

		3.12.	REIMBURSEMENT OF INSURANCE MONIES

 

If you become entitled to any insurance
monies in respect of risks against which we have insured (for example, because of double insurance), you must pay a similar amount
to us and give us full particulars of such sums in writing.

 

		3.13.	PROOF OF YOUR INSURANCE

 

		3.13.1	Without prejudice to clause 3.11.4, you shall maintain
fully comprehensive public liability and employer’s liability insurance against liability to the public and to third parties
(including for the avoidance of doubt us and the owners of the Estate) in a sum of not less than £10,000,000 (ten million
pounds) in respect of each and every claim. Such insurance shall be maintained from the date of this lease until the end of the
term.

 

		3.13.2	We may at any time request documentary evidence that the insurance policies required by this clause
are being maintained including if required by us, an original letter from your insurers confirming:

 

		(i)	the insurance currently in force; and

 

		(ii)	that premiums for that insurance have been paid in full at the date of that letter.

 

		3.13.3	If you fail to provide such evidence within 5 working days of our request then we may effect such
insurance ourselves and recover the costs of doing so from you.

 

		3.13.4	You agree to provide evidence to us that the insurances set out within clause 3.13.1 have been
put in place and this Lease shall not be effective until such satisfactory written evidence has been provided to us.

 

		3.13.5	You agree to claim on the insurance policies referred to in clause 3.13.1 if so directed by us
following any claim or potential claim received against us from a third party.

 

		3.13.6	You shall pay us an amount equal to any insurance money that the insurers of the Building refuse
to pay (in relation to the Building) by reason of any act or omission of you, your workers, contractors or agents or any person
at the Property, the Common Parts or the Estate Common Parts with the actual or implied authority of any of them.

 

    	 	-16-	 

     

    

 

		3.14.	ASSIGNMENT SUBLETTING AND OTHER DEALINGS

 

		3.14.1	Not part with possession share sublet assign mortgage or charge the whole or any part of the Property
except as expressly permitted by this clause.

 

		3.14.2	You may with our prior written consent which is not to be unreasonably withheld share occupation
of the Property with any company that is a member of the same group (within the meaning of section 42 of the LTA 1954) as you for
as long as that company remains within that group and provided that no relationship of landlord and tenant is established by that
arrangement.

 

		3.15.	FIXTURES AND FITTINGS

 

Make good forthwith any damage caused
to the fixtures and fittings and Contents or to immediately pay compensation to us for any damage caused to them which cannot be
made good or to replace any item which cannot be repaired if we request you to do so.

 

		3.16.	COSTS

 

Indemnify us against all
costs reasonably incurred by us in respect of:

 

		3.16.1.	any breach of your obligations;

 

		3.16.2.	any application you make to us for any consent or licence;

 

		3.16.3.	the preparation and service of any notice under Section 146 or 147 of the Law of Property Act 1925
(or any statutory re-enactment or modification) even though forfeiture may be avoided by means not being relief granted by the
Court;

 

		3.16.4.	the preparation and service of any notices or schedules of dilapidation;

 

		3.16.5.	the recovery of any costs or debts incurred by you under this lease.

 

		3.17.	GIVING BACK THE PROPERTY

 

At the end of the Term:

 

		3.17.1	give back the Property to us with vacant possession, free
from Hazardous Substances, in accordance with the Laboratory Decontamination Certificate and in the condition in which this Lease
requires, having first removed any alterations or improvements to the Property made before or during the Term (making good any
damage caused by such removal) in respect of which we have given to you not less than three months’ notice before the End
of the Term requiring their removal;

 

    	 	-17-	 

     

    

 

		3.17.2	remove all your chattels from the Property. To the extent
that you do not do so, you irrevocably appoint us to be your agent to store or dispose of any chattels or items you have fixed
to the Property and which you have left there for more than ten working days after the End of the Term. We shall not be liable
to you by reason of that storage or disposal and you shall indemnify us in respect of any claim made by a third party in relation
to that storage or disposal.

 

		3.18.	REGULATIONS

 

		3.18.1	Observe any rules regulations or instruction we may at any time our absolute discretion make, alter
or amend in relation to the management or operation of the Building, provided that such rules, regulations or instructions do not
purport to vary the terms of this Lease, and in the event of any inconsistency, the terms of this Lease shall apply.

 

		3.19.	INDEMNITY

 

Be responsible for and keep us fully
indemnified against all damage, damages, losses, costs, claims, expenses, actions, demands, proceedings and liabilities made against
us or suffered or incurred by us (including any diminution in the value of our interest in the Building and loss of amenity of
the Building) arising directly or indirectly out of:

 

		(i)	any act or omission by you or any persons at the Property expressly or impliedly with your authority;
or

		(ii)	any breach or non-observance by you of the covenants conditions or other provisions of this Lease.

 

		3.20.	PREVENT ENCROACHMENTS

 

		3.20.1	Immediately inform us of any encroachment or attempted encroachment over the Property by a third
party and assist us with preventing anyone acquiring rights over the Property;

 

		3.20.2	Not obstruct the flow or light or air to the Property nor obstruct any means of access to the Property.

 

		4.	OUR OBLIGATIONS

 

We agree as follows:

 

		4.1.	QUIET ENJOYMENT

 

That, so long as you perform and
observe the obligations on your part in this Lease, you may peacefully and quietly hold and enjoy the Property together with the
Rights during the Term without any interruption or disturbance from us or our successors in title or any person or persons claiming
by through or in trust for us or by title paramount.

 

    	 	-18-	 

     

    

 

		4.2.	INSURANCE OF PROPERTY

 

To procure that the Building is
insured (unless such insurance shall be vitiated by any act on your part or of your employees, servants, agents or visitors) in
the Reinstatement Cost (with an appropriate addition for professional fees and loss of rent) against loss or damage by any or all
of the Insured Risks and to produce to you on demand evidence of such insurance.

 

		4.3.	OUTGOINGS

 

To pay all outgoings costs and
expenses in respect of the Building and the Services not being outgoing costs and expenses for which you or any other tenant or
occupier is liable.

 

		4.4.	PROVISION OF SERVICES

 

To use reasonable and
commercially sensible endeavours to:

 

		4.4.1.	maintain in good and sufficient repair and decorative order replacing and cleaning as reasonably
necessary all those parts of the Building and its fixtures fittings and equipment together with all Service Media exclusively serving
the Building as are not your liability or the liability of any other tenant or occupier of the Building;

 

		4.4.2.	provide adequate heating and lighting of the Common Parts;

 

		4.4.3.	clean at intervals at our discretion the internal glazed surfaces of all doors and windows on the
outside of the Building and on the inside of the Building (where not the responsibility of any tenant or occupier) and of the doors
and screens separating the Property from the entrance halls and corridors inside the Building;

 

		4.4.4.	maintain the Common Parts of the Building in good and sufficient repair and decorative order;

.

		4.4.5.	provide and maintain services to the Building and central plant and equipment including electrical
services, provision of data connectivity, hot and cold water supply, [heating] and lighting, and mechanical services;

 

		4.4.6.	procure the provision of maintenance repair and cleaning of the roads, and the external areas of
the Building.

 

		4.5	We shall administer the Services in accordance with the principles of good estate management, except
where there are sound reasons for implementing alternative procedures that can be justified and explained.

 

    	 	-19-	 

     

    

  

		4.6	We shall:

 

		(a)	Ensure that the Services are provided in a commercial and professional manner and that the quality
and cost of the Services are appropriate for the Building and are regularly reviewed in accordance with good estate management;

		(b)	Require that Service Providers comply with written performance standards and regularly review,
monitor and measure the performance of Service Providers against those written performance standards;

		(c)	Establish and operate sound management procedures to ensure that our respective obligations which
are set out in this clause are complied with and we shall record these procedures in any management policy;

		(d)	deal promptly and efficiently with any reasonable enquiry made by you which relates to any of the
Services;

		(e)	invite (without being obliged to act upon) comment from you on the performance of the Service Providers,
the standard of the Management Service and delivery of the Services;

		(f)	ensure that (where appropriate) regular meetings are held between us, you and, the other occupiers
in the Building and the Manager.

 

		4.7	We shall not be required to:

 

		(a)	Carry out any works where the need for those works has arisen by reason of any damage or destruction
by a risk against which we are not obliged to insure; or

		(b)	Replace or renew any part of the Building or the Estate or any item or system within the Building
or the Estate which has not become beyond economic repair.

 

		4.8	You shall:

 

		(a)	Co-operate fully with us and the Manager in order that we and the Manager may administer the Services
in accordance with the provisions of this clause;

		(b)	Promptly advise us and the Manager of any changes within your organisation that may affect the
operation of the Services;

		(c)	Promptly make a written record upon being advised by us or the manager of any changes to the operation
of the Services;

		(d)	Respond promptly and efficiently to any reasonable enquiry of us or of the Manager; and

		(e)	Be proactive in assisting us and the manager with operating and using the Services on a value for
money and quality standard basis and follow all procedures reasonably required by us or the Manager in order to maintain and promote
the quality and economic effectiveness of the Services. Such procedures include, but are not to be limited to, separating waste
to facilitate appropriate and cost-effective recycling.

 

		4.9.	Where we are required to comply with any obligation contained in this clause such obligation shall,
where relevant, include, in the alternative, an obligation on us to ensure that the Manger complies with that obligation.

 

    	 	-20-	 

     

    

 

		5.	RE-ENTRY

 

We are entitled to forfeit this Lease
by entering any part of the Property whenever you:

 

		(i)	are 7 (seven days late in paying any of the rents, in the case of the Rent, even if it was not
formally demanded; or

		(ii)	if you shall at any time during the Term fail or neglect to observe and perform any of the covenants
conditions and agreements on your part in this Lease; or

		(iii)	(if you are a corporation) a receiver manager or liquidator of any kind is appointed of such corporation
while the Term is vested in you or if it shall enter into liquidation whether compulsory or voluntary or an administration order
is made in respect of it; or

		(iv)	(if you are an individual or individuals) shall become bankrupt or make an arrangement or composition
with your creditors

 

without prejudice to any right
or action or remedy on our part in respect of any antecedent breach of any of the obligations, covenants, conditions or agreements
on your part contained in this Lease.

 

		6.	MISCELLANEOUS MATTERS

 

		6.1	NOTICES

 

		6.1.1.	any notice under this Lease shall be in writing;

 

		6.1.2.	any notice to you (if you are a corporation) shall be sufficiently served if delivered to you on
the Property or sent by registered or recorded post to your registered or principal office in the United Kingdom or (if you are
an individual or individuals) shall be sufficiently served if left addressed to you on the Property or sent by registered or recorded
post to or left addressed to you at your last known address in the United Kingdom;

 

		6.1.3.	any notice to us shall be sufficiently served if delivered or sent by registered or recorded post
to the address specified for us in this Lease, marked ‘For the attention of the Assistant Director of Legal Services (reference
[ ]);

 

		6.1.4.	any notice sent registered or recorded post shall be deemed to have been duly served at the expiration
of forty-eight hours after the time of posting. In proving service, it shall be sufficient to prove that the envelope containing
the notice was duly addressed in accordance with this clause and posted to the place to which it is addressed.

 

    	 	-21-	 

     

    

  

		6.2	LIMITATION OF OUR LIABILITY

 

Notwithstanding anything in this
Lease, we will not be liable to you nor to any person or persons in the Property or the Building in respect of any interruption
or failure of any of the Services or supplies of any utility (including, for the avoidance of doubt, data services) caused by circumstances
beyond our reasonable control or caused by any act or omission on our part or by our employees or agents not being in performance
of any duty relating to the Services except in so far as the same may be covered by the Insured Risks or for any damage to or loss
of any chattel or property on the Property or Building.

 

		6.3	LIMITATION OF OUR REPAIRING OBLIGATIONS

 

We will not be liable to you for
any defect in the Building to the extent that any defect is repairable by us under clause 4 unless we shall have had actual notice
of the need for repair.

 

		6.4	INTEREST ON OVERDUE AMOUNTS

 

If any sum payable by you to us
under this Lease is unpaid 7 (seven) days after becoming due you will pay interest to us at 4% above the Interest Rate, calculated
from the date when the sum became payable until the date when we receive it.

 

		6.5	BUSINESS RATES

 

The District Valuer deems that your
occupation constitutes a separate rateable business. You shall therefore pay the business rates attributable to the Property on
demand.

 

		6.6	VALUE ADDED TAX

 

Any Rent or other consideration
payable in respect of any supply or supplies by us to you pursuant to this Lease shall be exclusive of any value added tax and
such value added tax shall be payable by you to us in addition to such Rent or other consideration (as if it formed part of the
same).

 

		6.7	SECURITY OF TENURE

 

The parties hereto agree that the
provisions of Section 24 to 28 of the Landlord and Tenant Act 1954 shall be excluded in relation to this lease. You acknowledge
receipt of a valid warning notice under Schedule 1 to the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003
("the Order") and you have, before entering into this Lease or becoming contractually obliged to do so, made a declaration
pursuant to Schedule 2 to the Order. .

 

		6.8	DISPUTES

 

		6.8.1	Any dispute between you and any other occupier of the Building
(other than with us) shall be determined by the Surveyor or as he shall direct.

 

    	 	-22-	 

     

    

 

		6.8.2	Before taking proceedings in relation to any dispute arising under this Lease (other than a dispute
to which clause 6.8.2 applies) either party may (without obligation) suggest to the other that they voluntarily seek mediation
to resolve their differences. If the suggestion is accepted, the parties will:

		(ii)	apply to the then President of the Law Society to nominate a person of suitable knowledge and experience
as mediator; and

		(iii)	each pay half the cost of nominating the mediator and of his fees and expenses.

 

		6.9	COMPENSATION

 

Any
statutory right on your part to claim compensation from us on you vacating the Property shall be excluded to the extent that the
law allows.

 

		6.10	LAW OF PROPERTY ACT 1925

 

The operation of the Law of Property
Act 1925 Section 62 shall be excluded from this agreement and you shall not by virtue of this Lease be deemed to have acquired
or be entitled by any means whatever to any easement (other than the Rights) from or over or affecting any other property belonging
to us.

 

		6.11	CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999

 

A person who is not a party to
this lease shall not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Partiers) Act 1999
but this does not affect any right or remedy of a third party which exists, or is available, apart from that Act.

 

		6.12	NEW TENANCY UNDER LTCA 1995

 

This lease creates a new tenancy
for the purposes of the LTCA 1995.

 

		6.13	LOCAL AUTHORITY LANDLORD’S CAPACITY AND POWERS

 

We enter into this lease solely
in our capacity as a landowner in respect of the Property and not in any other capacity. Nothing in this lease shall restrict our
powers or rights as a local authority, local planning authority or statutory body to perform any of its statutory functions.

 

		7.	MONITORING REQUIREMENTS - ERDF FUNDING

 

		7.1	The Building has been funded by North East LEP as part of the North East Growth Deal (Local Growth
Fund – LGF) from Government, and grant funding from the European Regional Development Fund (ERDF) as part of the European
Structural and Investment Funds Growth Programme 2014-2020.

 

		7.2	You shall provide monitoring information as required by the funders (ERDF and LGF) in whatever
form the funders require no later than the last working day of each calendar quarter. The monitoring information may be related
to and include (but not limited to):

 

    	 	-23-	 

     

    

 

		-	General information on you e.g. type of business (e.g. SME or large company), main trading activity,
number of employees, date of formation, turnover, previous address etc:

		-	Employment increase within your organisation.

		-	Jobs created and improved by you and located in the Property (including type of jobs, skill and
wage levels);

		-	General information on your new-to-market products (no commercially sensitive information will
be required);

		-	General information on your employees located in the Property;

		-	Any other information reasonably requested by us in order to comply with the Funding Agreements.

 

		7.3	If required by us and/or the funders and/or their auditors, you shall make your original records
available for checks to evidence the monitoring information provided by you.

 

		8.	BREAK CLAUSE

 

		8.1.1	We may terminate this lease by written notice to you if at any time any rents or any other sums
which have fallen due by you under the terms of this lease are unpaid 21 days after becoming payable, whether such sums have been
demanded or not.

 

		8.1.2	Following service of a notice under clause 8.2.1 this lease shall terminate on the date specified
in the notice (the Break Date).

 

		8.2.1	You may terminate this lease by serving a Break Notice (in the form annexed at Appendix 2) specifying
a break date (the Break Date), provided that you may not serve a Break Notice more frequently than once in a 6 month period.

 

		8.2.2	A Break Notice served by you shall be of no effect if, at the Break Date:

(a) you have not
given at least 3 months’ notice;

(b) you have not
paid any part of the Rent or any VAT in respect of it which was due to be paid;

(c) the whole of
the Property is not given back to us free of your occupation and the occupation of any other lawful occupier;

(d) there is a
subsisting material breach of any of the tenant covenants in this lease relating to the state of repair and condition of the Property,
of which we have given you written notice not less than 2 months prior to the Break Date.

 

		8.2.3	Subject to the foregoing, following service of a Break Notice this lease shall terminate on the
Break Date.

 

    	 	-24-	 

     

    

 

		8.3	Termination of this lease on the Break Date shall not affect any other right or remedy that either
party may have in relation to any earlier breach of this lease.

 

FIRST SCHEDULE

The Rights 

 

		1.	Common Parts

 

We grant you and all persons authorised
by you (in common with us and others to whom we grant similar rights) the following rights, subject to such regulations that we
may make from time to time:

		(a)	the right to support and protection from the Common Parts;

		(b)	the right to use external areas of the Estate for pedestrian access to and from the Building;

		(c)	the right to use the lower ground floor refuse store provided by us at the Building;

		(d)	the right to use the internal areas of the Common Parts for access to and from the Property and
the lavatories and washrooms of the Common Parts;

		(e)	the right to use the Service Media;

		(f)	the right to use for the temporary storage (prior to disposal by the landlord) of general office
waste such part of the Common Parts shown coloured blue on Plan Level LG as may from time to time be designated for such purpose
by notice in writing from us to you;

		(g)	the right to use the Fixtures and Fittings provided that you comply with clause 3.15.

		(h)	the right to use for the temporary storage (prior to disposal by you) of your hazardous waste used
laboratory materials (including clinical waste solvent waste gas bottles) and your general office waste in connection with the
Permitted Use of the Property such part of the area coloured blue on Tenant’s Lease Plan Level LG as may from time to time
be designated for such purpose by notice in writing from the us to you (“Waste Storage Area”).

 

provided that we may from time to
time give you written notice varying, amending, adding to or subtracting from the above rights or the routes of them (or both)
in such manner as we may think desirable but not so as to render the Property or the means of access to them incapable of beneficial
use and provided that in relation to the right set out at (h) above, you shall:

 

		(i)	Ensure all waste is stored safely and securely to prevent leaks or spills;

		(ii)	Comply with all statutory requirements including those of the Health and Safety Executive;

		(iii)	Comply with the Waste Duty of Care Code of Practice;

		(iv)	Remain responsible for all materials stored in the Waste Storage Area and their subsequent disposal;

		(v)	ensure all solvent waste is stored in a bunded store;

 

    	 	-25-	 

     

    

 

		(vi)	ensure all waste including solvent waste, clinical waste, glass waste, clinical waste, nitrogen
dewars, gas bottles and general waste is stored in a caged area;

		(vii)	ensure all bins in the Waste Storage Area are securely
locked;

		(viii)	comply with the requirements of good laboratory practice,
where appropriate;

		(ix)	keep an inventory of all materials contained within the Waste Storage Area from time to time and
make the inventory available for inspection by us at any time;

		(x)	not allow access to the Waste Storage Area by visitors to the Property;

		(xi)	indemnify us against any expenses, costs, claims, damage and loss (including any diminution in
the value of our interest in the Building and loss of amenity of the Building) arising from your use of the Waste Storage Area.
any breach of any of your covenants in this lease, or any act or omission of you or your workers, contractors or agents or any
other person on the Waste Storage Area with the actual or implied authority of any of them.

 

SECOND SCHEDULE

 

The Reservations

 

		1.	Utilities

The right of free passage of water
soil electricity gas telephone and all other services of whatever kind enjoyed by the Building through all sewers drains gutters
channels pipes cables conduits and conductors of whatever kind (with all ancillary equipment) which may be at any time in under
or upon the Property or any part of them.

 

		2.	Support

The right of support and
protection by the Property for the remainder of the Building.

 

		3.	Rebuilding or alterations

The right for us without your consent
or any right to compensation to build rebuild or install plant and equipment which alter other parts of the Building or any other
land or buildings in any manner and to let (or deal with in any other way) the Building for any purpose notwithstanding that the
light or air or any other easement or right to the Property enjoyed by you is in any way diminished or prejudiced but not so that
the Property are made incapable of beneficial use.

 

		4.	Entry for maintenance and other works

 

		4.1	The right at any time to lay construct and use Service Media of whatever kind (with all ancillary
equipment) through under or upon the Property.

 

		4.2	The right at all reasonable times with materials plant and equipment to enter upon the Property
to carry out the works in paragraph 4.1 and also for the purposes of inspecting cleaning repairing replacing and renewing the Service
Media (and all ancillary equipment).

 

    	 	-26-	 

     

    

  

		4.3	For the purposes of executing repairs or alterations to the Building, making good all damage done
to the Property by reason of the carrying out of any such works, and subject to first giving you reasonable prior written notice
(save in case of emergency) the right for us, our Surveyors, agents, workmen and others at all times to enter the Property for
the purposes of examining testing repairing renewing cleaning replacing adding to altering and maintaining the Building including
the Service Media and windows and to make connections and disconnections which may be necessary for the purpose of carrying out
any work or doing anything within our obligations or rights in this Lease or for which a tenant is liable to make a contribution
Provided that we will make good any damage caused by the work or anything done to the Property fixtures fittings chattels or effects
on the Property but we will not be liable to you for any inconvenience caused.

 

		4.4	The right to enter the Property for any purpose set out
in this Lease.

 

THIRD SCHEDULE

 

The Biosphere Policy

 

Occupation will be limited to life science
research and development and other convergent technology-based companies that are dependent on regular consultation with one of
the following:

 

		·	The companies own research, development and
design staff 

		·	Commercial research, development and design
organisations

		·	Newcastle University and Northumbria University

		·	National and regional scientific institutions

		·	Other national academic institutions

 

Pilot production resulting from scientific research
and development

 

Ancillary activities that are, in the sole opinion
of Newcastle City Council, appropriate to support the operation of a leading commercial life science facility including:

 

		·	Professional services

		·	Patent Agents and Intellectual Property Lawyers

		·	Venture Capital Funds

 

    	 	-27-	 

     

    

 

Appendix 1: Schedule of Condition
and Inventory

 

    	 	-28-	 

     

    

 

Appendix 2: Form of Break Notice

 

To: [Name of Tenant/Landlord] of [ADDRESS or
Registered Office] (Tenant/Landlord)

 

From: [Name of Landlord/Tenant] of [ADDRESS
or Registered Office]

 

Property: [insert details of the Property]
as demised by the lease dated [DATE OF LEASE] made between (1) The Council of the City of Newcastle upon Tyne and (2) [TENANT]

 

I/We [Insert name] OR [insert name of solicitor
serving notice on behalf of tenant/landlord] GIVE YOU NOTICE that I/we/the Tenant/the Landlord intends to terminate the term of
the Lease on [INSERT BREAK DATE] in accordance with clause [ ] so that the Lease will determine on that date.

 

	Signed:	 	 
	 	 	 
	Name of [Tenant/Landlord] OR [NAME OF SOLICITORS] solicitors for and on behalf of [Tenant/Landlord]
	 	 	 
	Date:	 	 

 

    	 	-29-	 

     

    

 

Appendix 3: Hazard Profile Form

 

    	 	-30-	 

     

    

 

Appendix 4: Laboratory Decontamination Certificate

 

    	 	-31-	 

     

    

 

This Lease has been entered into on the
date stated at the beginning of it.

 

	The Common Seal of 	 
	THE COUNCIL OF THE CITY	 
	OF NEWCASTLE UPON TYNE	 
	Was hereunto affixed in the	 
	Presence of:	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	Executed as a Deed by 	 
	MDNA LIFE SCIENCES (UK) LIMITED	 
	Acting by a director and its	 
	Secretary or by two directors	 
	 	 
	 	 
	Director	 
	 	 
	 	 
	Director/Secretary	 

 

    	 	-32-

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