Document:

Exhibit 10.8 

 

Immunome,
Inc.

 

2020 Employee Stock Purchase Plan

 

Adopted
by the Board of Directors: September 18, 2020

Approved
by the Stockholders: September 22, 2020

 

1.             General;
Purpose.

 

(a)            The
Plan provides a means by which Eligible Employees of the Company and certain designated Related Corporations may be given an opportunity
to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under
an Employee Stock Purchase Plan. In addition, the Plan permits the Company to grant a series of Purchase Rights to Eligible Employees
that do not meet the requirements of an Employee Stock Purchase Plan.

 

(b)            The
Plan includes two components: a 423 Component and a Non-423 Component. The Company intends (but makes no undertaking or representation
to maintain) the 423 Component to qualify as an Employee Stock Purchase Plan. The provisions of the 423 Component, accordingly,
will be construed in a manner that is consistent with the requirements of Section 423 of the Code. Except as otherwise provided
in the Plan or determined by the Board, the Non-423 Component will operate and be administered in the same manner as the 423 Component.

 

(c)            The
Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the services of new Employees
and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations.

 

2.             Administration.

 

(a)            The
Board or the Committee will administer the Plan. References herein to the Board shall be deemed to refer to the Committee except
where context dictates otherwise.

 

(b)            The
Board will have the power, subject to, and within the limitations of, the express provisions of the Plan:

 

(i)            To
determine how and when Purchase Rights will be granted and the provisions of each Offering (which need not be identical).

 

(ii)           To
designate from time to time (A) which Related Corporations of the Company will be eligible to participate in the Plan, (B) whether
such Related Corporations will participate in the 423 Component or the Non-423 Component, and (C) to the extent that the Company
makes separate Offerings under the 423 Component, in which Offering the Related Corporations in the 423 Component will participate.

 

(iii)         To
construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for its administration.
The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the
extent it deems necessary or expedient to make the Plan fully effective.

 

    

     

    

 

(iv)          To
settle all controversies regarding the Plan and Purchase Rights granted under the Plan.

 

(v)            To
suspend or terminate the Plan at any time as provided in Section 12.

 

(vi)          To
amend the Plan at any time as provided in Section 12.

 

(vii)         Generally,
to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of the Company
and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan with respect
to the 423 Component.

 

(viii)        To
adopt such rules, procedures and sub-plans as are necessary or appropriate to permit or facilitate participation in the Plan by
Employees who are foreign nationals or employed or located outside the United States. Without limiting the generality of, and consistent
with, the foregoing, the Board specifically is authorized to adopt rules, procedures, and sub-plans regarding, without limitation,
eligibility to participate in the Plan, the definition of eligible “earnings,” handling and making of Contributions,
establishment of bank or trust accounts to hold Contributions, payment of interest, conversion of local currency, obligations to
pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of share issuances,
any of which may vary according to applicable requirements, and which, if applicable to a Related Corporation designated for participation
in the Non-423 Component, do not have to comply with the requirements of Section 423 of the Code.

 

(c)            The
Board may delegate some or all of the administration of the Plan to a Committee or Committees. If administration is delegated to
a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the
Board that have been delegated to the Committee, including the power to delegate to a subcommittee any of the administrative powers
the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee),
subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by
the Board. The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest
in the Board some or all of the powers previously delegated. Whether or not the Board has delegated administration of the Plan
to a Committee, the Board will have the final power to determine all questions of policy and expediency that may arise in the administration
of the Plan.

 

(d)            All
determinations, interpretations and constructions made by the Board in good faith will not be subject to review by any person and
will be final, binding and conclusive on all persons.

 

3.             Shares
of Common Stock Subject to the Plan.

 

(a)            Subject
to the provisions of Section 11(a) relating to Capitalization Adjustments, the maximum number of shares of Common Stock
that may be issued under the Plan will not exceed 125,000 shares of Common Stock, plus the number of shares of Common Stock that
are automatically added on January 1st of each calendar year for a period of up to ten years, commencing on the
first January 1 following the year in which the IPO Date occurs and ending on (and including) January 1, 2030, in an
amount equal to the lesser of (i) 1% of the total number of shares of Common Stock outstanding on December 31st
of the preceding calendar year, and (ii) 1,000,000 shares of Common Stock. Notwithstanding the foregoing, the Board may act
prior to the first day of any calendar year to provide that there will be no January 1st increase in the share
reserve for such calendar year or that the increase in the share reserve for such calendar year will be a lesser number of shares
of Common Stock than would otherwise occur pursuant to the preceding sentence. For the avoidance of doubt, up to the maximum number
of shares of Common Stock reserved under this Section 3(a) may be used to satisfy purchases of Common Stock under the
423 Component and any remaining portion of such maximum number of shares may be used to satisfy purchases of Common Stock under
the Non-423 Component.

 

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(b)            If
any Purchase Right granted under the Plan terminates without having been exercised in full, the shares of Common Stock not purchased
under such Purchase Right will again become available for issuance under the Plan.

 

(c)            The
stock purchasable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares repurchased
by the Company on the open market.

 

4.             Grant
of Purchase Rights; Offering.

 

(a)            The
Board may from time to time grant or provide for the grant of Purchase Rights to Eligible Employees under an Offering (consisting
of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form
and will contain such terms and conditions as the Board will deem appropriate, and, with respect to the 423 Component, will comply
with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights
and privileges. The terms and conditions of an Offering shall be incorporated by reference into the Plan and treated as part of
the Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of
the provisions of this Plan by reference in the document comprising the Offering or otherwise) the period during which the Offering
will be effective, which period will not exceed 27 months beginning with the Offering Date, and the substance of the provisions
contained in Sections 5 through 8, inclusive.

 

(b)            If
a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in forms delivered
to the Company: (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right
with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have identical exercise prices)
will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase
Right if different Purchase Rights have identical exercise prices) will be exercised.

 

(c)            The
Board will have the discretion to structure an Offering so that if the Fair Market Value of a share of Common Stock on the first
Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock
on the Offering Date for that Offering, then (i) that Offering will terminate immediately as of that first Trading Day, and
(ii) the Participants in such terminated Offering will be automatically enrolled in a new Offering beginning on the first
Trading Day of such new Purchase Period.

 

5.             Eligibility.

 

(a)            Purchase
Rights may be granted only to Employees of the Company or, as the Board may designate in accordance with Section 2(b), to
Employees of a Related Corporation. Except as provided in Section 5(b) or as required by Applicable Law, an Employee
will not be eligible to be granted Purchase Rights unless, on the Offering Date, the Employee has been in the employ of the Company
or the Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require,
but in no event will the required period of continuous employment be equal to or greater than two years. In addition, the Board
may (unless prohibited by law) provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on
the Offering Date, such Employee’s customary employment with the Company or the Related Corporation is more than 20 hours
per week and more than five months per calendar year or such other criteria as the Board may determine consistent with Section 423
of the Code with respect to the 423 Component. The Board may also exclude from participation in the Plan or any Offering Employees
who are "highly compensated employees" (within the meaning of Section 423(b)(4)(D) of the Code) of the Company
or a Related Corporation or a subset of such highly compensated employees.

 

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(b)            The
Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or
dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or which occurs
thereafter, receive a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of that Offering.
Such Purchase Right will have the same characteristics as any Purchase Rights originally granted under that Offering, as described
herein, except that:

 

(i)             the
date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes, including
determination of the exercise price of such Purchase Right;

 

(ii)            the
period of the Offering with respect to such Purchase Right will begin on its Offering Date and end coincident with the end of such
Offering; and

 

(iii)          the
Board may provide that if such person first becomes an Eligible Employee within a specified period of time before the end of the
Offering, he or she will not receive any Purchase Right under that Offering.

 

(c)            No
Employee will be eligible for the grant of any Purchase Rights if, immediately after any such Purchase Rights are granted, such
Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock of the
Company or of any Related Corporation. For purposes of this Section 5(c), the rules of Section 424(d) of the
Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding
Purchase Rights and options will be treated as stock owned by such Employee.

 

(d)            As
specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights only if such Purchase
Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations,
do not permit such Eligible Employee’s rights to purchase stock of the Company or any Related Corporation to accrue at a
rate which, when aggregated, exceeds US $25,000 of Fair Market Value of such stock (determined at the time such rights are granted,
and which, with respect to the Plan, will be determined as of their respective Offering Dates) for each calendar year in which
such rights are outstanding at any time.

 

(e)            Officers
of the Company and any designated Related Corporation, if they are otherwise Eligible Employees, will be eligible to participate
in Offerings under the Plan. Notwithstanding the foregoing, the Board may (unless prohibited by law) provide in an Offering that
Employees who are highly compensated Employees within the meaning of Section 423(b)(4)(D) of the Code will not be eligible
to participate.

 

(f)             Notwithstanding
anything in this Section 5 to the contrary, in the case of an Offering under the Non-423 Component, an Eligible Employee (or
group of Eligible Employees) may be excluded from participation in the Plan or an Offering if the Board has determined, in its
sole discretion, that participation of such Eligible Employee(s) is not advisable or practical for any reason.

 

6.             Purchase
Rights; Purchase Price.

 

(a)            On
each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be granted a Purchase Right to purchase
up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated
by the Board, but in either case not exceeding 15% of such Employee’s earnings (as defined by the Board in each Offering)
during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends
on the date stated in the Offering, which date will be no later than the end of the Offering.

 

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(b)            The
Board will establish one or more Purchase Dates during an Offering on which Purchase Rights granted for that Offering will be exercised
and shares of Common Stock will be purchased in accordance with such Offering.

 

(c)            In
connection with each Offering made under the Plan, the Board may specify (i) a maximum number of shares of Common Stock that
may be purchased by any Participant on any Purchase Date during such Offering, (ii) a maximum aggregate number of shares of
Common Stock that may be purchased by all Participants pursuant to such Offering and/or (iii) a maximum aggregate number of
shares of Common Stock that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate purchase
of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate
number, then, in the absence of any Board action otherwise, a pro rata (based on each Participant’s accumulated Contributions)
allocation of the shares of Common Stock (rounded down to the nearest whole share) available will be made in as nearly a uniform
manner as will be practicable and equitable.

 

(d)            The
purchase price of shares of Common Stock acquired pursuant to Purchase Rights will be not less than the lesser of:

 

(i)            an
amount equal to 85% of the Fair Market Value of the shares of Common Stock on the Offering Date; or

 

(ii)            an
amount equal to 85% of the Fair Market Value of the shares of Common Stock on the applicable Purchase Date.

 

7.              Participation;
Withdrawal; Termination.

 

(a)            An
Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the means of making Contributions
by completing and delivering to the Company, within the time specified in the Offering, an enrollment form provided by the Company.
The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant’s
Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general
funds of the Company except where Applicable Law requires that Contributions be deposited with a third party. If permitted in the
Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering Date (or, in the
case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions
from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including
to zero) or increase his or her Contributions. If required under Applicable Law or if specifically provided in the Offering, in
addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through the payment
by cash, check or wire transfer prior to a Purchase Date.

 

(b)            During
an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a withdrawal
form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such
Participant’s Purchase Right in that Offering will immediately terminate and the Company will distribute as soon as practicable
to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that
Offering shall thereupon terminate. A Participant’s withdrawal from that Offering will have no effect upon his or her eligibility
to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to
participate in subsequent Offerings.

 

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(c)            Unless
otherwise required by Applicable Law, Purchase Rights granted pursuant to any Offering under the Plan will terminate immediately
if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation
period required by law) or (ii) is otherwise no longer eligible to participate. The Company will distribute as soon as practicable
to such individual all of his or her accumulated but unused Contributions.

 

(d)            Unless
otherwise determined by the Board, a Participant whose employment transfers or whose employment terminates with an immediate rehire
(with no break in service) by or between the Company and a Related Corporation that has been designated for participation in the
Plan will not be treated as having terminated employment for purposes of participating in the Plan or an Offering; however, if
a Participant transfers from an Offering under the 423 Component to an Offering under the Non-423 Component, the exercise of the
Participant’s Purchase Right will be qualified under the 423 Component only to the extent such exercise complies with Section 423
of the Code. If a Participant transfers from an Offering under the Non-423 Component to an Offering under the 423 Component, the
exercise of the Purchase Right will remain non-qualified under the Non-423 Component. The Board may establish different and additional
rules governing transfers between separate Offerings within the 423 Component and between Offerings under the 423 Component
and Offerings under the Non-423 Component.

 

(e)            During
a Participant’s lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable
by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation
as described in Section 10.

 

(f)             Unless
otherwise specified in the Offering or as required by Applicable Law, the Company will have no obligation to pay interest on Contributions.

 

8.              Exercise
of Purchase Rights.

 

(a)            On
each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase of shares of Common Stock,
up to the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified
in the Offering. No fractional shares will be issued unless specifically provided for in the Offering.

 

(b)            Unless
otherwise provided in the Offering, if any amount of accumulated Contributions remains in a Participant’s account after the
purchase of shares of Common Stock on the final Purchase Date of an Offering, then such remaining amount will not roll over to
the next Offering and will instead be distributed in full to such Participant after the final Purchase Date of such Offering without
interest (unless otherwise required by Applicable Law).

 

(c)            No
Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan
are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all
applicable U.S. federal and state, foreign and other securities, exchange control and other laws applicable to the Plan. If on
a Purchase Date the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will
be exercised on such Purchase Date, and the Purchase Date will be delayed until the shares of Common Stock are subject to such
an effective registration statement and the Plan is in material compliance, except that the Purchase Date will in no event be more
than 27 months from the Offering Date. If, on the Purchase Date, as delayed to the maximum extent permissible, the shares of Common
Stock are not registered and the Plan is not in material compliance with all Applicable Laws, as determined by the Company in its
sole discretion, no Purchase Rights will be exercised and all accumulated but unused Contributions will be distributed to the Participants
without interest (unless the payment of interest is otherwise required by Applicable Law).

 

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9.              Covenants
of the Company.

 

The Company will seek
to obtain from each U.S. federal or state, foreign or other regulatory commission or agency having jurisdiction over the Plan such
authority as may be required to grant Purchase Rights and issue and sell shares of Common Stock thereunder unless the Company determines,
in its sole discretion, that doing so would cause the Company to incur costs that are unreasonable. If, after commercially reasonable
efforts, the Company is unable to obtain the authority that counsel for the Company deems necessary for the grant of Purchase Rights
or the lawful issuance and sale of Common Stock under the Plan, and at a commercially reasonable cost, the Company will be relieved
from any liability for failure to grant Purchase Rights and/or to issue and sell Common Stock upon exercise of such Purchase Rights.

 

10.            Designation
of Beneficiary.

 

(a)            The
Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any shares
of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before such shares
and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the Participant to change
such designation of beneficiary. Any such designation and/or change must be on a form approved by the Company.

 

(b)             If
a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of Common Stock
and/or Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been
appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such shares of Common Stock and/or
Contributions, without interest (unless the payment of interest is otherwise required by Applicable Law), to the Participant’s
spouse, dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to such other person as the
Company may designate.

 

11.            Adjustments
upon Changes in Common Stock; Corporate Transactions.

 

(a)            In
the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and maximum
number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities
by which the share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the class(es) and number
of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and (iv) the class(es)
and number of securities that are the subject of the purchase limits under each ongoing Offering. The Board will make these adjustments,
and its determination will be final, binding and conclusive.

 

(b)            In
the event of a Corporate Transaction, then: (i) any surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) may assume or continue outstanding Purchase Rights or may substitute similar rights (including
a right to acquire the same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights,
or (ii) if any surviving or acquiring corporation (or its parent company) does not assume or continue such Purchase Rights
or does not substitute similar rights for such Purchase Rights, then the Participants’ accumulated Contributions will be
used to purchase shares of Common Stock (rounded down to the nearest whole share) within ten business days prior to the Corporate
Transaction under the outstanding Purchase Rights, and the Purchase Rights will terminate immediately after such purchase.

 

12.            Amendment,
Termination or Suspension of the Plan.

 

(a)            The
Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in Section 11(a) relating
to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval
is required by Applicable Law.

 

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(b)            The
Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is suspended
or after it is terminated.

 

Any benefits, privileges,
entitlements and obligations under any outstanding Purchase Rights granted before an amendment, suspension or termination of the
Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person
to whom such Purchase Rights were granted, (ii) as necessary to comply with any laws, listing requirements, or governmental
regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive
guidance issued thereunder relating to Employee Stock Purchase Plans) including without limitation any such regulations or other
guidance that may be issued or amended after the date the Plan is adopted by the Board, or (iii) as necessary to obtain or
maintain favorable tax, listing, or regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without
a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies with the
requirements of Section 423 of the Code with respect to the 423 Component or with respect to other Applicable Laws. Notwithstanding
anything in the Plan or any Offering Document to the contrary, the Board will be entitled to: (i) establish the exchange ratio
applicable to amounts withheld in a currency other than U.S. dollars; (ii) permit Contributions in excess of the amount designated
by a Participant in order to adjust for mistakes in the Company’s processing of properly completed Contribution elections;
(iii) establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts
applied toward the purchase of Common Stock for each Participant properly correspond with amounts withheld from the Participant’s
Contributions; (iv) amend any outstanding Purchase Rights or clarify any ambiguities regarding the terms of any Offering to
enable the Purchase Rights to qualify under and/or comply with Section 423 of the Code with respect to the 423 Component;
and (v) establish other limitations or procedures as the Board determines in its sole discretion advisable that are consistent
with the Plan. The actions of the Board pursuant to this paragraph will not be considered to alter or impair any Purchase Rights
granted under an Offering as they are part of the initial terms of each Offering and the Purchase Rights granted under each Offering.

 

13.            Tax
Qualification; Tax Withholding.

 

(a)            Although
the Company may endeavor to (i) qualify a Purchase Right for special tax treatment under the laws of the United States or
jurisdictions outside of the United States or (ii) avoid adverse tax treatment, the Company makes no representation to that
effect and expressly disavows any covenant to maintain special or to avoid unfavorable tax treatment, notwithstanding anything
to the contrary in this Plan.  The Company will be unconstrained in its corporate activities without regard to the potential
negative tax impact on Participants.

 

(b)            Each
Participant will make arrangements, satisfactory to the Company and any applicable Related Corporation, to enable the Company or
the Related Corporation to fulfill any withholding obligation for Tax-Related Items. Without limitation to the foregoing, in the
Company’s sole discretion and subject to Applicable Law, such withholding obligation may be satsified in whole or in part
by (i) withholding from the Participant’s salary or any other cash payment due to the Participant from the Company or
a Related Corporation; (ii) withholding from the proceeds of the sale of shares of Common Stock acquired under the Plan, either
through a voluntary sale or a mandatory sale arranged by the Company; or (iii) any other method deemed acceptable by the Board.

 

14.            Effective
Date of Plan.

 

The Plan will become
effective immediately prior to and contingent upon the IPO Date. No Purchase Rights will be exercised unless and until the Plan
has been approved by the stockholders of the Company, which approval must be within 12 months before or after the date the Plan
is adopted (or if required under Section 12(a) above, materially amended) by the Board.

 

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15.            Miscellaneous
Provisions.

 

(a)            Proceeds
from the sale of shares of Common Stock pursuant to Purchase Rights will constitute general funds of the Company.

 

(b)            A
Participant will not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common
Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase
Rights are recorded in the books of the Company (or its transfer agent).

 

(c)            The
Plan and Offering do not constitute an employment contract. Nothing in the Plan or in the Offering will in any way alter the at
will nature of a Participant’s employment, if applicable, or be deemed to create in any way whatsoever any obligation on
the part of any Participant to continue in the employ of the Company or a Related Corporation, or on the part of the Company or
a Related Corporation to continue the employment of a Participant.

 

(d)            The
provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts of
laws rules.

 

(e)             If
any particular provision of the Plan is found to be invalid or otherwise unenforceable, such provision will not affect the other
provisions of the Plan, but the Plan will be construed in all respects as if such invalid provision were omitted.

 

(f)             If
any provision of the Plan does not comply with Applicable Law, such provision shall be construed in such a manner as to comply
with Applicable Law.

 

16.            Definitions.

 

 As used in the Plan,
the following definitions will apply to the capitalized terms indicated below:

 

(a)            “423
Component” means the part of the Plan, which excludes the Non-423 Component, pursuant to which Purchase Rights that
satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees.

 

(b)            “Applicable
Law” means shall mean any applicable securities, federal, state, foreign, material local or municipal or other law,
statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, listing rule, regulation, judicial
decision, ruling or requirement issued, enacted, adopted, promulgated, implemented or otherwise put into effect by or under the
authority of any Governmental Body (or under the authority of the NASDAQ Stock Market or the Financial Industry Regulatory Authority).

 

(c)            “Board”
means the Board of Directors of the Company.

 

(d)            “Capital
Stock” means the Common Stock of the Company.

 

(e)            “Capitalization
Adjustment” means any change that is made in, or other events that occur with respect to, the Common Stock subject
to the Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of consideration
by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property
other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares,
change in corporate structure or other similar equity restructuring transaction, as that term is used in Financial Accounting Standards
Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of
any convertible securities of the Company will not be treated as a Capitalization Adjustment.

 

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(f)            “Code”
means the U.S. Internal Revenue Code of 1986, as amended, including any applicable regulations and guidance thereunder.

 

(g)            “Committee”
means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with Section 2(c).

 

(h)            “Common
Stock” means the Common Stock of the Company.

 

(i)            “Company”
means Immunome, Inc., a Delaware corporation.

 

(j)            “Contributions”
means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes
to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided
for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering
through payroll deductions.

 

(k)            “Corporate
Transaction” means the consummation, in a single transaction or in a series of related transactions, of any one or
more of the following events:

 

(i)            a
sale or other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets
of the Company and its subsidiaries;

 

(ii)           a
sale or other disposition of more than 50% of the outstanding securities of the Company;

 

(iii)          a
merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

 

(iv)           a
merger, consolidation or similar transaction following which the Company is the surviving corporation but the shares of Capital
Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of
the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise.

 

(l)            “Director”
means a member of the Board.

 

(m)            “Eligible
Employee” means an Employee who meets the requirements set forth in the document(s) governing the Offering for
eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate
set forth in the Plan.

 

(n)            “Employee”
means any person, including an Officer or Director, who is “employed” for purposes of Section 423(b)(4) of
the Code by the Company or a Related Corporation. However, service solely as a Director, or payment of a fee for such services,
will not cause a Director to be considered an “Employee” for purposes of the Plan.

 

    10

     

    

 

(o)            “Employee
Stock Purchase Plan” means a plan that grants Purchase Rights intended to be options issued under an “employee
stock purchase plan,” as that term is defined in Section 423(b) of the Code.

 

(p)            “Exchange
Act” means the U.S. Securities Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder.

 

(q)            “Fair
Market Value” means, as of any date, the value of the Common Stock determined as follows:

 

(i)             If
the Common Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a share
of Common Stock will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market
with the greatest volume of trading in the Common Stock) on the date of determination, as reported in such source as the Board
deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of
determination, then the Fair Market Value will be the closing sales price on the last preceding date for which such quotation exists.

 

(ii)            In
the absence of such markets for the Common Stock, the Fair Market Value will be determined by the Board in good faith in compliance
with Applicable Laws and regulations and in a manner that complies with Sections 409A of the Code

 

(iii)          Notwithstanding
the foregoing, for any Offering that commences on the IPO Date, the Fair Market Value of the shares of Common Stock on the Offering
Date will be the price per share at which shares are first sold to the public in the Company’s initial public offering as
specified in the final prospectus for that initial public offering.

 

(r)            “Governmental
Body” means any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other
jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or regulatory
body, or quasi-governmental body of any nature (including any governmental division, department, administrative agency or bureau,
commission, authority, instrumentality, official, ministry, fund, foundation, center, organization, unit, body or entity and any
court or other tribunal, and for the avoidance of doubt, any tax authority) or other body exercising similar powers or authority;
or (d) self-regulatory organization (including the NASDAQ Stock Market and the Financial Industry Regulatory Authority).

 

(s)            “IPO
Date” means the date of the underwriting agreement between the Company and the underwriters managing the initial
public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering.

 

(t)            “Non-423
Component” means the part of the Plan, which excludes the 423 Component, pursuant to which Purchase Rights that are
not intended to satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees.

 

(u)            “Offering”
means the grant to Eligible Employees of Purchase Rights, with the exercise of those Purchase Rights automatically occurring at
the end of one or more Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering
Document” approved by the Board for that Offering.

 

(v)            “Offering
Date” means a date selected by the Board for an Offering to commence.

 

(w)            “Officer”
means a person who is an officer of the Company or a Related Corporation within the meaning of Section 16 of the Exchange
Act.

 

    11

     

    

 

(x)            “Participant”
means an Eligible Employee who holds an outstanding Purchase Right.

 

(y)            “Plan”
means this Immunome, Inc. 2020 Employee Stock Purchase Plan, as amended from time to time, including both the 423 Component
and the Non-423 Component.

 

(z)            “Purchase
Date” means one or more dates during an Offering selected by the Board on which Purchase Rights will be exercised
and on which purchases of shares of Common Stock will be carried out in accordance with such Offering.

 

(aa)      “Purchase
Period” means a period of time specified within an Offering, generally beginning on the Offering Date or on the first
Trading Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods.

 

(bb)      “Purchase
Right” means an option to purchase shares of Common Stock granted pursuant to the Plan.

 

(cc)      “Related
Corporation” means any “parent corporation” or “subsidiary corporation” of the Company whether
now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code.

 

(dd)      “Securities
Act” means the U.S. Securities Act of 1933, as amended.

 

(ee)      “Tax-Related
Items” means any income tax, social insurance, payroll tax, fringe benefit tax, payment on account or other tax-related
items arising out of or in relation to a Participant’s participation in the Plan, including, but not limited to, the exercise
of a Purchase Right and the receipt of shares of Common Stock or the sale or other disposition of shares of Common Stock acquired
under the Plan.

 

(ff)      “Trading
Day” means any day on which the exchange(s) or market(s) on which shares of Common Stock are listed, including
but not limited to the NYSE, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors
thereto, is open for trading.

 

    12Exhibit 10.21

 

September 17, 2020

 

Richard F. Fitzgerald 
  

Re:   Immunome,
Inc. Employment Offer

 

Dear Richard

 

On behalf of Immunome, Inc.
(the “Company”), I am pleased to offer you employment as Chief Financial Officer, reporting to the Chief Executive
Officer of the Company. The purpose of this letter agreement is to set forth the terms of the offer and your employment should
you accept the offer. Certain capitalized terms are defined in Section 11 of this letter agreement.

 

		1.	Position; Duties.

 

		(a)	Your position will be as a regular full-time employee commencing on September 22, 2020 (the
 “Commencement Date”). You will work out of the Company’s headquarters, currently in Exton, Pennsylvania.

 

		(b)	You agree that, to the best of your ability and experience, you will at all times loyally and
conscientiously perform all of the duties and obligations required of and from you consistent with your position and to the reasonable
satisfaction of the Company. You further agree that you will devote substantially all of your business time and attention to the
business of the Company, and you will not render business or professional services of any nature to any other person or organization,
whether or not for compensation, without the prior written consent of the Chief Executive Officer in his sole and absolute discretion.
You will be subject to and expected to abide by the Company’s policies and procedures, as these may be changed by the Company
from time to time in its discretion.

 

		2.	Base Salary. Your annual base salary will be $375,000, prorated for any partial
calendar year of your employment. Your salary will be paid in accordance with the Company’s standard payroll policies. Your
salary will be subject to periodic review at the Board’s sole discretion, which currently takes place in conjunction with
the Company’s annual performance reviews.

 

		3.	Bonuses. Each calendar year during your employment, you will be eligible for a
                                                                                                                                                                      discretionary bonus targeted at 40% of your annual base salary. For 2020, you will be eligible for a prorated bonus based
                                                                                                                                                                      upon the fraction of the calendar year remaining from the Commencement Date. Bonus payments pursuant to this Section 3 are
                                                                                                                                                                      discretionary and will be based on achievement of Company and individual performance objectives, as determined by the Chief
                                                                                                                                                                      Executive Officer and the Board of Directors of the Company (the “Board”), in its sole discretion. If
                                                                                                                                                                      based on meeting the Company and individual performance objectives it is determined that you are eligible for a bonus
                                                                                                                                                                      pursuant to this Section 3, payment would be made in a single lump sum payment no later than March 15 of the calendar year
                                                                                                                                                                      immediately following the calendar year to which the bonus relates as long as you remain continuously employed by the Company
                                                                                                                                                                      through the date of payment.

 

     

     

    

 

		4.	Stock Options.

 

		(a)	Subject to Board approval, you will be granted a stock option (the “Option”)
exercisable for a number of shares of Common Stock representing 0.75% of the fully-diluted equity of the Company as of the date
of grant. (For purposes of this letter agreement, “fully-diluted equity” means the total number of shares of outstanding
Company Common Stock and Company Preferred Stock, with the Preferred Stock calculated on an as-converted to Common Stock basis,
including for this purpose the maximum number of shares issuable under the Equity Incentive Plan (inclusive of granted options
and unallocated shares reserved for issuance thereunder) and outstanding warrants). Vesting will be over four years, with a one-
year cliff for 25% and the remaining 75% vesting in equal monthly installments over the next 36 months; provided, however, that
any portion of the Option that is attributable to outstanding warrants (i.e., for purposes of the “fully-diluted equity”
calculation) instead shall vest in one lump sum on the five-year anniversary of the date of the grant; provided further, however,
that in both such cases you remain employed by the Company at the time of each such vesting event. The strike price of the Option
will be the fair market value per share on the date of grant. In the event the Company completes an initial public offering (“IPO”)
after the date of grant of the Option but within 90 days after the Commencement Date, you will be granted additional stock options
(the “Additional Option”) on the same terms and conditions as the Option (except that the strike price would
be the fair market value per share on the date of grant of the Additional Option), to acquire such additional shares of Common
Stock as necessary so that, effective immediately after giving effect to the IPO, such Additional Option, together with the Option,
will (subject to vesting and the other terms specified in this letter agreement) give you the right to acquire, shares of Common
Stock representing 0.75% of the fully-diluted equity of the Company.

 

		(b)	All stock options will be subject to the terms of the Plan and a stock option agreement to be
executed by you as a condition to the grant. The stock option agreement will provide that vesting is conditioned upon your continued
employment with the Company at each applicable vesting date, subject to acceleration to the extent specified in Section 7 below.

 

		5.	Employee Benefits. You will be eligible for four weeks’ vacation per calendar
year. Vacation shall accrue and be taken in accordance with the vacation policies established by the Company from time to time
(and the treatment of any accrued vacation upon termination of employment will be governed by these policies). You will also be
eligible to participate in the Company’s other employee
benefit plans as they are generally made available to other employees of similar status and service.

 

    	 	2	 

     

    

 

All paid time off, insurance, retirement and
other benefits are subject to the terms and conditions of the applicable plan or policy, and the Company reserves the right to
change, alter or terminate at any time any plan, policy, benefit or coverage, in whole or in part, in its sole discretion.

 

		6.	Employee Covenants. As a condition of employment, you will be required to sign on
or before the Commencement Date, without changing, the Company’s form of Employee Confidential Disclosure, Invention Assignment,
Non-Competition, Non-Solicitation and Non-Interference Agreement (the “Confidential Disclosure Agreement”).
By accepting the offer set forth in this letter agreement, you agree that you will not bring with you to the Company, or use in
any way during your employment with the Company, any confidential information, trade secrets or proprietary materials or processes
of any former employer, entity or individual for which you have performed services. You further confirm that by accepting the offer
set forth in this letter agreement and performing your job duties with the Company, you will not breach any contract, agreement
or other instrument to which you are a party or are bound.

 

		7.	At-Will Employment; Employment Termination Benefits.

 

		(a)	This letter agreement does not create a contract or promise of employment for a definite period
of time. Therefore, your employment will be on an “at-will” basis, meaning it may be terminated by either the Company
or you at any time, with or without cause and with or without prior notice. We do require, however, that you give 30 days’
notice if you decide to terminate your employment with the Company (although the Company can elect in its sole discretion for your
employment to terminate before the expiration of this 30-day period if you give such notice, and this election by the Company shall
not constitute a termination without Cause for purposes of this letter agreement). Additionally, your employment will terminate
automatically upon your death or Disability. Upon termination of your employment for any reason, you will automatically be deemed
to have resigned from all positions that you hold as an officer or member of the Board (or any committee thereof) of the Company
or any of its affiliates and in any event will at the Company’s request execute a resignation letter to document this agreement.
Other than as set forth in Sections 7(b) and 7(c) (if applicable), upon termination of your employment with the Company, you will
not be entitled to any payments or benefits from the Company other than (i) payment of your base salary earned for services rendered
through the date of termination, (ii) any unpaid expense reimbursement owed to you in accordance with the Company’s policies,
and (iii) any amount earned, accrued and arising from your participation in, or benefits accrued under, any Company employee benefit
plan or arrangement, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans
and arrangements.

 

    	 	3	 

     

    

 

		(b)	In the event that you become an employee of the Company pursuant to this letter agreement and
your employment thereafter is terminated by the Company without Cause (other than in the circumstances specified in Section 7(c)),
then, subject to Section 7(d), the Company will continue to pay your then-applicable base salary for nine months after the date
of your termination in accordance with the Company’s standard payroll practices and periods.

 

		(c)	In the event that you become an employee of the Company pursuant to this letter agreement and
(i) a Change of Control occurs and (ii) at the time of, or within 12 months after the date of, the Change of Control your employment
is terminated without Cause by the Company or the acquiring company or you resign for Good Reason then, subject to Section 7(d),
the Company will (A) continue to pay your then-applicable base salary for 12 months after the date of your termination in accordance
with the Company’s standard payroll practices and periods; (B) accelerate any unvested portion of your then-outstanding stock
options in full; (C) pay you your full bonus under Section 3 as and when the same would otherwise be payable by the Company (assuming
all of the Company’s and your individual goals were met, but subject to pro ration as described in Section 3 if termination
is in calendar year 2020); and (D) provided you timely elect, and remain eligible for, continued group health plan benefits to
the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as “COBRA”), reimburse you
for COBRA premiums in an amount such that your net cost (after tax) for continued health insurance coverage is the same as your
cost for such benefits as in effect on the date of termination. The Company would make the contribution pursuant to clause (D)
of the preceding sentence on a monthly basis upon receipt of your monthly COBRA premium payment; however, this reimbursement is
subject to early termination if, and on the date, you become eligible for health benefits through another employer or otherwise
become ineligible for COBRA.

 

		(d)	You will not be eligible to receive the payments and other benefits specified in Section 7(b)
or Section 7(c), as applicable, unless you (i) have returned all Company property in your possession; and (ii) have executed (and,
if applicable, not revoked) a separation agreement, including a general release of all claims that you may have against the Company
or persons affiliated with the Company, in the Company’s standard form (the “Separation Agreement”). Any such
payments would, subject to the foregoing, commence within 60 days after the date of your separation, provided you have timely executed
and returned the Separation Agreement and, if a revocation period is applicable, you have not revoked the Separation Agreement;
once the payments commence, they will include any unpaid amounts accrued from the termination date. In addition, and notwithstanding
any other provision of this Section 7, the continuation of each of the payments and other benefits pursuant to Section 7(b) or
Section 7(c), as applicable, is further conditioned on: (i) the Company being financially solvent at the time that each such payment
becomes due, and the Company not being rendered insolvent by virtue of making any such payment; and (ii) your continued compliance
with your post- termination obligations, including those under the Confidential Disclosure Agreement, (and, if you do not so comply,
(A) the Company shall no longer be obligated to make any payments or provide any
other benefits pursuant to Section 7(b) or Section 7(c), as applicable, and (B) you will be required immediately to reimburse any
and all payments and benefits made by the Company pursuant to either such Section, in addition to any other remedies available
to the Company). For purposes of this letter agreement, the Company shall be considered solvent if it is able to pay its debts
as they become due.

 

    	 	4	 

     

    

 

		8.	Parachute Provisions. If the Company determines in good faith that any payments
or benefits provided to you constitute “parachute payments” within the meaning of Section 280G of the Code (“Parachute
Payments”) and may be subject to an excise tax imposed pursuant to Section 4999 of the Code, the Parachute Payments will
be reduced to an amount determined by the Company in good faith to be the maximum amount that may be provided to you without resulting
in any portion of such Parachute Payments being subject to such excise tax (the amount of such reduction, the “Cutback
Benefits”). You will be entitled to select which Parachute Payments (of those that are not considered to be deferred
compensation under Section 409A of the Code) shall be reduced hereunder. If the Company is then eligible, the Company will use
commercially reasonable efforts to obtain the approval of the Cutback Benefits by the Company’s stockholders in the manner
contemplated by Q&A 7 of Treas. Reg. Section 1.280G, it being understood and agreed that the Company does not guarantee that
such approval will be obtained. If, and only if, the Company determines that such approval is obtained, will you be entitled to
receive the Cutback Benefits without regard to the first sentence of this Section.

 

You are encouraged to obtain your own tax advice
regarding your compensation from the Company. You agree that the Company does not have a duty to design its compensation policies
in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or the Board related to tax
liabilities arising from your compensation provided that the Company complies with the terms and provisions of this letter agreement
other than with respect to the Company’s failure to comply with the terms and provisions of this letter agreement.

 

		9.	Section 409A. This Section is intended to help ensure that compensation paid or
delivered to you pursuant to this letter agreement either is paid in compliance with, or is exempt from, Section 409A of the Internal
Revenue Code of 1986, as amended and the rules and regulations promulgated thereunder (collectively, “Section 409A”):

 

		(a)	Any taxable reimbursement of business or other expenses, or any provision of taxable in-kind
benefits to you, as specified under this letter agreement, shall be subject to the following conditions: (i) the expenses eligible
for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement
or the amount of in-kind benefits provided in any other taxable year; (ii) the reimbursement of an eligible expense shall be made
no later than the end of the year after the year in which such expense was incurred; and (iii) the right to reimbursement or in-kind
benefits shall not be subject to liquidation or exchange for another benefit. Any reimbursement of taxes, as specified under this
letter agreement, shall be paid in any event not later than the end of your taxable year next following the
taxable year in which you remit the applicable taxes to the appropriate taxing authority.

 

    	 	5	 

     

    

 

		(b)	The payment of any amounts otherwise payable to you on account of termination of employment under
this letter agreement that constitute deferred compensation within the meaning of Section 409A and that are subject (among other
conditions, if any) to a release of claims may be delayed at the discretion of the Company for up to 90 days following your termination
of employment (without regard to when your release is delivered and becomes irrevocable (an “Effective Release”)
if reasonably determined by the Company to be necessary to avoid penalties under Section 409A). Regardless of any payment, however,
all such amounts remain conditioned on an Effective Release such that if you fail to deliver (or revoke) your release you will
forfeit and must immediately return such amounts on the Company’s demand.

 

		(c)	If you are deemed on the date of termination of your employment to be a “specified employee”,
within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the
Company from time to time, or if none, the default methodology, then: (x) with regard to any payment, the providing of any benefit
or any distribution of equity upon your separation from service that constitutes “deferred compensation” subject to
Section 409A, such payment, benefit or distribution shall not be made or provided prior to the earlier of (I) 
the expiration of the 6 month period measured from the date of your separation from service or (II) the date of your death;
and (y) on the first day of the seventh month following the date of your separation from service or, if earlier, on the date of
your death, all payments delayed pursuant to this Section 9(c) (whether they would otherwise have been payable in a single sum
or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump sum, and any remaining payments and
benefits due under this letter agreement shall be paid or provided in accordance with the normal dates specified from them herein.

 

		(d)	In applying Section 409A to compensation paid pursuant to this letter agreement, any right to
a series of installment payments under this letter agreement shall be treated as a right to a series of separate payments.

 

		10.	Additional Agreements.

 

		(a)	You will be subject to and required to fully comply with the Company’s policies and procedures,
as these may be changed from time to time, and this letter agreement is subject to those policies and procedures.

 

		(b)	During the term of your employment and thereafter, you shall reasonably cooperate with the
                                                                                                                                               Company in any internal investigation or administrative, regulatory or judicial proceeding as reasonably requested by the
                                                                                                                                               Company (including, without limitation, your being reasonably available to the Company upon reasonable notice for interviews
                                                                                                                                               and factual investigations, appearing at the Company’s reasonable request to give testimony without requiring service
                                                                                                                                               of a subpoena or other legal process, volunteering to the Company all pertinent
information and turning over to the Company all relevant documents which are or may come into your possession, all at times and
on schedules that are reasonably consistent with your other permitted activities and commitments) at reasonable times.

 

    	 	6	 

     

    

 

		(c)	All compensation and other payments to you under this letter agreement
or otherwise related to your employment are subject to applicable required tax withholding and deductions.

 

		(d)	This offer expires at 5:00 p.m. (local time) on September 21, 2020, if not accepted by then.

 

		(e)	Your employment by the Company will be subject to successful completion of a pre-employment
background check and documentation of eligibility to work in the United States, to be completed no later than three business days
following the Commencement Date.

 

		(f)	This letter agreement, including the Confidential Disclosure Agreement and your stock option
agreement, constitute the complete agreement between you and the Company, contain all of the terms of your employment with the
Company and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and
the Company relating to the subject matter herein.

 

		(g)	The terms of this letter agreement and the resolution of any disputes as to the meaning, effect,
performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement,
your employment with the Company or any other relationship between you and the Company (the “Disputes”) will
be governed by the laws of the Commonwealth of Pennsylvania, excluding laws relating to conflicts or choice of law. You and the
Company submit to the exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Pennsylvania
in connection with any Dispute or any claim related to any Dispute.

 

		(h)	Notwithstanding anything to the contrary set forth herein, the Company may terminate this offer
at any time prior to the Commencement Date.

 

		11.	Defined Terms. For purposes of this letter agreement:

 

		(a)	“Cause” means a determination by the Board that any of the following have occurred:
(i) your conviction of or plea of nolo contendere to a felony or any crime of moral turpitude; (ii) your adjudication as an incompetent;
(iii) your failure to faithfully, diligently and adequately perform your duties to the Company or your breach of any material obligation
to the Company; (iv) your violation in any material respect of any of the Company’s rules, regulations or policies; (v) your
insubordination in the performance of your duties; (vi) your breach of any obligation under this letter agreement or the Confidential
Disclosure Agreement; (vii) you shall have engaged in other behavior detrimental
to (or reasonably expected by the Company to be detrimental to)
the interests of the Company; (viii) your misappropriation of any funds or property of the Company, theft, embezzlement or fraud;
or (ix) your reporting to work or performing any work under the influence of alcohol, or your use of an illegal drug.

 

    	 	7	 

     

    

 

		(b)	“Change of Control” has the meaning set forth in the Equity Incentive Plan.

 

		(c)	“Disability” means (i) a condition that entitles you to receive long-term disability
benefits under Company’s long-term disability plan, or (ii) if there is no such plan, your inability, due to physical or
mental incapacity, to perform your duties and responsibilities under this letter agreement for a total of 90 days out of any 365-day
period or for 60 consecutive days.

 

		(d)	“Equity Incentive Plan” means the Company’s 2020 Equity Incentive Plan or any
future equity incentive plan adopted by the Board and then in effect.

 

		(e)	“Good Reason” means the occurrence of one of the following events without your written
consent: (i) reduction of your base salary or bonus target percentage below the amounts as initially set forth herein, unless such
reduction is part of a proportional reduction of base salaries of Company executives generally; (ii) material change or reduction
in your authority, duties or responsibilities, provided, however, that: (A) a change in job title shall not be deemed a “material
reduction” unless your new authority, duties or responsibilities are substantially changed or reduced from the prior authority,
duties or responsibilities and (B) following a business combination transaction involving the Company (including, but not limited
to, a Change of Control), Good Reason shall not include a reduction in authority, duties or responsibilities solely by virtue of
the Company being made part of, or operating as a subsidiary or division of, a larger company or organization, as long as your
new duties and responsibilities are reasonably commensurate with your experience; or (iii) your direct reporting to someone other
than the Chief Executive Officer. In order to resign for Good Reason, you must provide written notice of the condition giving rise
to Good Reason to the Board within 30 days after the initial occurrence of the condition, allow the Company 30 days to cure such
condition, and if the Company fails to cure the condition within such period, your resignation must be effective not later than
10 days after the end of the Company’s cure period. For purposes of this letter agreement, if the requirements of the immediately
preceding sentence are not fully satisfied on a timely basis, then your resignation from the employ of the Company shall not be
deemed to have been for “Good Reason,” you shall not be entitled to any of the benefits to which you would have been
entitled if you had resigned from the employ of the Company for “Good Reason,” and the Company shall not be required
to pay any amount or provide any benefit that would otherwise have been due to you had you resigned for “Good Reason.”

 

    	 	8	 

     

    

 

		12.	Assignment. The Company may assign this letter agreement to any person or entity,
including, but not limited to, any successor, parent, subsidiary or affiliated entity of the Company. The Company also may assign
this letter agreement in connection with any sale, reorganization, consolidation, or merger (whether
of stock or assets or otherwise) of the Company or the business of the Company. You expressly consent to the assignment of the
restrictions and requirements set forth in the Confidential Disclosure Agreement to any new owner of the Company’s business
or purchaser of the Company. You may not assign, pledge, or encumber your interest in this letter agreement, or any part thereof,
without the written consent of the Company, and any attempt do so without such consent is null and void. This letter agreement
shall inure to the benefit of and be binding upon you and the Company, and each of its respective successors, executors, administrators,
heirs and permitted assigns.

 

		13.	Counterparts. This letter agreement may be executed in one or more counterparts,
both of which shall be considered one and the same agreement, and shall become a binding agreement when one or more counterparts
have been signed by each party and delivered to the other party. Any executed counterpart of this letter agreement may be delivered
by facsimile or electronic transmission with the same effect as if delivered personally.

 

(Signature page follows.)

 

    	 	9	 

     

    

 

To indicate your acceptance
of this letter agreement, please sign and date this letter agreement in the spaces provided below. Again, let me indicate how pleased
we all are to extend this offer and how much we look forward to working with you.

 

	 	Sincerely,
	 	 	 
	 	IMMUNOME, INC.
	 	 	 
	 	By:	/s/ Purnanand D. Sarma
	 	Name:	Purnanand D. Sarma
	 	Title:	President and Chief Executive Officer

 

Accepted and agreed:

 

	/s/ Richard F. Fitzgerald	 
	Richard F. Fitzgerald	 
	 	 
	Date: September 18, 2020	 

 

    	 	10

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