Document:

Exhibit 10.2

  

  

  

  
    LUMOS PHARMA, INC.

     

    STOCK OPTION AGREEMENT

     

    This Option Agreement is issued pursuant to and is subject to all of the provisions of the Lumos Pharma, Inc. 2012 Equity Incentive Plan (the "Plan").

     

    
      
        	I.	
                NOTICE OF GRANT

                

              

      

    

    

    

    
      
        
          	

                	
                  
                    _______________ ("Optionee")

                  

                

        

      

      

      

    

    Address:

     

    Optionee has been granted an option (the "Option")
      to purchase shares of the Common Stock of the Company (the "Shares"), subject to the terms and
      conditions of the Plan and this Option Agreement, as follows:

     

    Date of Grant:

     

    Vesting Commencement Date:

     

    Exercise Price per Share: $

     

    Total Number of Shares Covered by this Option:

     

    Aggregate Exercise Price: $

     

    *NOTE: For any Optionee holding at least ten (10) percent of the total combined voting power of all
      classes of the Company's stock on the Date of Grant ("Ten Percent Stockholders"),
      the Exercise Price per Share for Incentive Stock Options must be at least one hundred and ten (110) percent of the fair market value of the Option
      Shares determined on the Date of Grant and such Option may not be exercisable more than five (5) years after the Date of Grant.

     

    
      	
               

            	Type of Option:	__ Incentive Stock Option
	
               

            	
               

            	
               

            
	
               

            	
               

            	___ Nonstatutory Stock Option

    

     

    

    Term/Expiration Date: Tenth Anniversary of Date of Grant (subject to the five (5) year limitation
      set forth above for Ten Percent Stockholders)

     

    Vesting Schedule: Provided that the Optionee is then providing services to the Company under a
      Service Agreement in accordance with the requirements of the Plan, the Shares shall vest and be vested, as follows: ______________________________________.

     

    
      
        

    

    Exercise and Termination Period: This Option shall be exercisable on one or more occasions as to
      any or all vested Shares up until (i) ninety (90) days after Optionee ceases to provide Continuous Service, (ii) one year after the termination of Optionee's service to the Company by reason of Optionee's Disability, as such term is defined in
      Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), or (iii) eighteen months
      after the death of Optionee. However, in no event shall this Option be exercised after the Term/Expiration Date provided above.

     

    II. AGREEMENT

     

    1.           Grant of Option.

     

    
      
        (a)   The Administrator of the Plan grants to Optionee, an Option to purchase the number of Shares set forth in the Notice of Grant, at the exercise
          price per Share set forth in the Notice of Grant (the "Exercise Price"), and subject to the terms and
          conditions of the Plan, which is incorporated herein by reference.

      

       

      

    

    
      
        (b)   In the event of a conflict between the terms and conditions of the Plan and this Option Agreement, the
          terms and conditions of the Plan shall prevail. Unless otherwise specified herein, terms used in this Option Agreement shall have the same meanings attributable thereto in the Plan, or if not defined therein, in Optionee's Service Agreement. The
          term "Service Agreement" shall mean the employment agreement, consulting agreement or other
          arrangement pursuant to which Optionee renders Continuous Service to the Company (or its Affiliate) in his or her capacity as an employee, consultant or director.

      

       

      

    

    
      
        (c)   If designated in the Notice of Grant as an Incentive Stock Option, this Option is intended to qualify as an
          Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that this Option exceeds the $100,000 rule of Code Section 422(d), this Option shall be treated as a Nonstatutory Stock Option.

      

    

     

    

    2.           Exercise of Option.

     

    (a) Right to Exercise. This Option shall be exercisable prior to its Expiration Date in accordance with the Vesting Schedule set out in the Notice of Grant and with the
      applicable provisions of the Plan and this Option Agreement, provided that the Company may, in its sole discretion, permit early exercise of the Option upon such terms and conditions as the Administrator specifies. The Option shall be subject to such
      contingencies of accelerated vesting as may be provided in the Plan (including upon a Change of Control) or in Optionee's Service Agreement. In addition to the foregoing, the unvested Options granted pursuant to this Option Agreement and any unvested
      shares acquired through early exercise of this Option Agreement shall be subject to automatic acceleration immediately prior to the consummation of an initial public offering of the securities issued by the Company pursuant to a registration
      statement filed with and declared effective by the Securities and Exchange Commission. Subject to any exercise limitations in the Plan, Optionee shall not forfeit any vested Options hereunder upon termination of his or her Service Agreement.

     

    (b) Method of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached as Exhibit A (the "Exercise Notice"), which shall state the
      election to exercise the Option, the number of Shares with respect to which the Option is being exercised (the "Exercised Shares"),
      the aggregate Exercise Price for the Exercised Shares, and such other representations and agreements as may be required by the Company. The Option shall be deemed to be exercised only when the Company receives the properly completed and signed
      Exercise Notice accompanied by payment of (i) the aggregate Exercise Price as to all Exercised Shares and (ii) full payment of all taxes, if any, required to be withheld in connection with the exercise of the Option.

     

    
      
        

    

    No Shares shall be issued pursuant to this Option unless the exercise and such issuance comply with applicable laws. Assuming such
      compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on which the Option is properly exercised with respect to such Shares.

     

    
      
        3.          Optionee's Representations.
          Optionee has delivered to the Company a Subscription Agreement in the form attached hereto as Exhibit B. In the event the Shares have not been registered under
          the Securities Act of 1933, as amended (the "Securities Act"), at the time this Option is exercised,
          the Optionee shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, deliver to the Company his or her Investment Representation Statement in the form attached hereto as Exhibit C.

         

          

      

    

    
      
        4.           Lock-Up Period. Optionee hereby
          agrees that, if so requested by the Company or any representative of the underwriters (the "Managing Underwriter")
          in connection with any registration of the offering of any securities of the Company under the Securities Act, Optionee shall not sell or otherwise transfer any Shares or other securities of the Company during the 180-day period (or such
          other period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company) (the "Market Standoff Period") following the effective date of a registration statement of the Company filed under the Securities Act. This restriction shall be superseded by any broader market standoff restriction contained
          within any applicable agreement that may be executed by Optionee and the Company (see Section 6 below). The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such
          Market Standoff Period.

      

       

      

    

    
      
        5.           Method of Payment. Optionee, at
          its election, shall pay the aggregate Exercise Price by any of the following methods, or a combination thereof:

      

       

      

    

    
      
        (a) cash or check;

      

       

      

    

    
      
        (b) consideration received by the Company under any cashless exercise program that may be adopted by the Company
          pursuant to the Plan; or

      

       

      

    

    
      
        (c) surrender of other Shares which, (i) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more than six
          (6) months on the date of surrender, and (ii) have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price.

      

       

      

    

    
      
        6.          Restrictions on Exercise. This
          Option may not be exercised (i) until such time as the Plan has been approved by the shareholders of the Company, or (ii) if the issuance of such Shares upon such exercise or the method of payment for such Shares would constitute a violation of
          any applicable law. The Shares of Common Stock that will be issued to the Optionee upon valid exercise of the Option may be subject to certain restrictions contained in shareholder agreements, including the Company's Right of First Refusal and
          Co-Sale Agreement, the Company's Investors' Rights Agreement, and the Company's Voting Agreement (the "Shareholder Agreements"). If the  Shares are subject to one of more ofsuch agreements, a copy thereof will be provided to Optionee herewith, and Optionee will be required to consent to and
          adopt each of such agreements effective as of the Date of Grant. The Optionee will also be required to execute and deliver to the Company a counterpart of that certain Early Exercise Unvested Stock Repurchase Agreement, a form of which is
          attached hereto as Exhibit D, in connection with any permissible early exercise of this Option, if allowed by the Company. Notwithstanding the foregoing,
          the Shares shall not be deemed issued until certificates evidencing same have been issued to Optionee (or its representative or the Escrow Holder, if applicable) by the Company.

      

    

     

    
      
        

    

    
      
        7.           Non-Transferability of Option.
          This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution, and may be exercised during the Optionee's lifetime only by Optionee. Subject to the foregoing restriction, the terms of the Plan
          and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

      

       

      

    

    
      
        8.           Term of Option. This Option may be
          exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

      

       

      

    

    
      
        9.          Entire Agreement. The Plan, this
          Option Agreement (with its exhibits), the Service Agreement, and the Shareholder Agreements, as applicable, constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior
          undertakings and agreements of the Company and Optionee with respect to the subject matter hereof, and may not be modified except as permitted in the Plan or by means of a writing signed by the Company and Optionee. Optionee has not relied upon
          any representations or promises by the Company or its representatives in entering into this Option Agreement, the Service Agreement, or the Shareholder Agreements, except as may be expressly contained in such documents.

      

       

      

    

    
      
        10.         Governing Law; Severability. This Option Agreement is governed by the
          internal substantive laws but not the choice of law rules of the State of Delaware. The terms of this agreement shall be deemed severable, provided that if any provision is held invalid by a tribunal of competent jurisdiction it shall be
          reformed, if possible, to the minimum extent necessary to render it valid and enforceable.

      

       

      

    

    
      
        11.        No Guarantee of Continued Service. OPTIONEE AGREES THAT, EXCEPT AS EXPRESSLY PROVIDED HEREIN, THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE SET FORTH ABOVE IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER (NOT THROUGH THE ACT OF
          BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES BY EARLY EXERCISE). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN
          EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER DURING THE OPTION TERM, AND SHALL NOT LIMIT IN ANY WAY OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT (IN ACCORDANCE WITH OPTIONEE'S SERVICE AGREEMENT) TO TERMINATE OPTIONEE'S
          RELATIONSHIP AS A SERVICE PROVIDER.

      

       

      

      
        
          

      

    

    12.        Review of Documents and Voluntary Consent. Optionee acknowledges that s/he has
      previously received and reviewed a copy of the Plan and this Option Agreement (together with the exhibits thereto), the Company's Certificate of Incorporation, as amended, and the Shareholder Agreements, as applicable. Optionee accepts this Option
      subject to all of the terms and provisions of the Plan and this Option Agreement. Optionee has been afforded an opportunity to obtain the advice of counsel prior to executing this Option Agreement. Optionee agrees to accept as binding, conclusive and
      final all decisions or interpretations of the Administrator regarding questions arising under the Plan or this Option Agreement. Optionee agrees to notify the Company with respect to any change in Optionee's residential address as set forth in
      Section I of this Option Agreement.

     

    	
            LUMOS PHARMA, INC.

          	OPTIONEE
	 	 
	By:

          	

          	 	

          	 
	 	Richard J. Hawkins	
            

            

          
	 	Chief Executive Officer	 

    

    

    
      
        

    

    EXHIBIT A TO STOCK OPTION AGREEMENT

    

    

    2012 EQUITY INCENTIVE PLAN

     

    EXERCISE NOTICE

     

    Lumos Pharma, Inc.

     

    ATTN: Chief Executive Officer

     

    
      
        1.           Exercise of Option. Effective as of today, ________________ , 20_, the
          undersigned ("Optionee") hereby elects to exercise Optionee's Option to purchase __________________
          shares (the "Shares") of the Common Stock of Lumos Pharma, Inc. (the "Company") pursuant and subject to the Lumos Pharma, Inc. 2012 Equity Incentive Plan (the "Plan") and the Stock Option Agreement dated _______________ (the "Option Agreement").

      

    

     

    
      
        2.           Delivery of Payment. Optionee herewith delivers to the Company the Aggregate
          Exercise Price of the Shares as to which the Option is now being exercised, calculated as follows, in accordance with the Option Agreement.

      

    

     

      

  

   
    
      	Total Shares Purchased:	
               

            	
               

            	 
	
               

            	
               

            	
               

            	 
	Exercise Price per Share:	$

            	
               

            	 
	
               

            	
               

            	
               

            	 
	Aggregate Exercise Price:	
               

            	
               

            	 

    

     
     

      

    Payment of the Aggregate Exercise Price is herewith made in full as follows (select the applicable option by initialing before the letter of the option that applies, and fill in any blanks in C. if that option
      applies):

     

    ___ A. Cash

     

    
      
        ___ B. Check

      

    

     

    
      
        ___ C. If allowed by the Plan Administrator, but not otherwise, Optionee is tendering
          certificates covering _________________ shares of the Common Stock of the Company, satisfying the market value and holding requirements of the Option Agreement, endorsed in blank and accompanied by stock powers acceptable to the Administrator. In
          such event Optionee represents that the shares so tendered are owned by Optionee, free and clear of any liens, claims, restrictions or other encumbrances in favor of any third party, as Optionee's separate or sole management community property,
          and the payment shall not be deemed made hereunder until the Company has had an opportunity (without waiving any continuing rights based on this representation, however) to confirm such representation to the best of its knowledge.

      

    

     

    
      
        ___ D. If allowed by the Administrator, but not otherwise, Optionee is making payment pursuant
          to a cashless exercise program adopted pursuant to the Plan.

      

       

      

        

      
        
          

      

    

    3.           Tax Withholding and Tax Consultation. Optionee authorizes payroll
        withholding by Company and otherwise will make adequate provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the Option. If Optionee is exercising a Nonstatutory Stock Option,
        Optionee encloses payment in full of his/her withholding taxes, if any, as follows:

     

    
      	
               

            	
              (Contact Plan Administrator for amount of tax due.)

            
	
               

            	

            
	
               

            	___ Cash:

              	$ _________________
	
               

            	
               

            	
               

            
	
               

            	___ Check:	$ _________________

    

     

    

    Optionee agrees that s/he will remain liable to the Company for any additional tax withholding that may later be determined to be due, together with interest and
      penalties imposed thereon.

     

    
      
        4.           Optionee Information. Optionee's social security number or employer identification number is: ________________________ . Optionee's current address is ______________________________________________________________________________________________

      

    

     

    5.           Representations of Optionee. Optionee acknowledges that Optionee has
        received, read and understood the Plan and the Option Agreement (and the documents referred to therein) and agrees to abide by and be bound by their terms and conditions. In addition, Optionee acknowledges that the Shares that will be issued upon
        the exercise of the Option may be subject to restrictions contained in the Company's Voting Agreement, Right of First Refusal and Co-Sale Agreement and/or the Company's Investors' Rights Agreement (the "Shareholder Agreements"), if executed by Optionee. Optionee is not aware of any representation made by Optionee in the Subscription Agreement
        previously delivered to the Company that is not accurate, with the exception of information updated herein.

     

    6.           Rights as Shareholder. Certificates representing the Shares shall be
        issued to the Optionee as soon as practicable after the Option is exercised. However, until the issuance of the Shares (as evidenced by stock certificates and the appropriate entry on the books of the Company or of a duly authorized transfer agent
        of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Shares, notwithstanding the exercise of the Option. No adjustment shall be made for a dividend or other right for which the
        record date is prior to the date of issuance of the Shares except as otherwise may be provided in the Plan.

     

    7.           Notice of Disqualifying Disposition. If the Option is an Incentive Stock
        Option, Optionee agrees that s/he will promptly notify the Chief Executive Officer of the Company in writing within ten (10) days after the date of any disposition in the event Optionee transfers any of the Shares within one (1) year after the date
        s/he exercises all or part of the Option, or within two (2) years after the Date of Grant.

     

    
      
        

    

    8.           Tax Consultation. Optionee understands
      that s/he may suffer adverse tax consequences as a result of his or her purchase or disposition of the Shares. Optionee represents that s/he has consulted with such tax consultants as Optionee has deemed advisable in connection with the exercise of
      the Option, and the purchase (or disposition) of the Shares and that Optionee is not relying on the Company for any tax advice.

     

    9.           Restrictive Legends and Stop-Transfer Orders.

     

    
      
        (a)     Legends. Optionee understands and agrees that the Company shall cause certain restrictive legends
          to be placed upon any certificates evidencing ownership of the Shares to reflect restrictions applicable to the Shares, including those arising under the Amended and Restated Certificate of Incorporation, the Shareholder Agreements, as
          applicable, the Early Exercise Unvested Stock Repurchase Agreement, or applicable state and federal securities laws.

         

        

      

    

    
      
        (b)     Stop-Transfer Notices. Optionee agrees that, in order to ensure compliance with restrictions
          applicable to the Shares, the Company may issue appropriate "stop transfer" instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own
          records.

         

        

      

    

    
      
        (c)     Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise
          transferred in violation of any of the provisions of this Agreement or (ii) to treat as an owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so
          transferred.

         

        

      

    

    10.         Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and the terms and conditions of this Agreement shall inure to the benefit of the successors and assigns of
      the Company. Subject to the restrictions on transfer set forth in the Option Agreement, the Buy-Sell Agreement (if any), and the Shareholder Agreements, as applicable, the terms of this Exercise Notice shall be binding upon Optionee and his or her
      heirs, executors, administrators, successors and assigns.

     

    11.         Interpretation. Any dispute regarding the interpretation of this Agreement
      shall be submitted by Optionee or by the Company forthwith to the Administrator (which may be the Company's Board of Directors), which shall review such dispute not later than its next regular meeting or any adjournment thereof. The resolution of
      such a dispute by the Administrator shall be final and binding on all parties, provided that such interpretation shall not conflict with any substantive rights expressly granted Optionee by its Option Agreement or Service Agreement.

     

    12.         Governing Law; Severability. This Exercise Notice is governed by Delaware law,
      without regard to its conflicts of law rules. Any provision determined by a tribunal of competent jurisdiction to be invalid shall be deemed severable provided that it shall be reformed, if possible, to the minimum extent necessary to render it valid
      and enforceable.

     

    
      	
              Submitted by:

            	 	
              Accepted by:

            
	
               

            

      	
              

              

            	 	
              Lumos Pharma, Inc.

            
	
              (Signature of Optionee)

            	 	 

      	 

            

      	  	 	 	 
	
              (Print Name)

            	 	By:	 
	
              

              

            	 	 	 
	 	 	 

      	 	 	Title:	 

    

     

    

    
      
        

    

    EXHIBIT B TO STOCK OPTION AGREEMENT

     

    SUBSCRIPTION AGREEMENT

     

    LUMOS PHARMA, INC.

     

    (TO BE EXECUTED AT THE TIME THE OPTION IS GRANTED)

     

    Lumos Pharma, Inc.

      Austin, Texas

     

    Gentlemen:

     

    
      
        1.       General Statement. The undersigned
          Subscriber is the recipient of stock options (the "Options") issued pursuant to the Lumos Pharma, Inc. 2012 Equity Incentive Plan (the "Plan"), which upon exercise in accordance with their terms and tender of the purchase price required thereunder will entitle Subscriber to receive shares (the "Shares") of the Common Stock of Lumos Pharma, Inc., a Delaware
          corporation (the "Company").

      

       

      

    

    
      
        2.        Representations and Warranties of the
              Undersigned. In consideration for the Options, Subscriber represents, warrants and acknowledges to the Company as follows:

      

       

      

    

    (a)      Subscriber maintains his/her permanent residence and domicile in Texas;

     

    
      
        
          
            (b)      the Options (and any Shares issued upon their exercise)
              are not being acquired as a nominee for any other person, but will be acquired for Subscriber's own account for purposes of investment and not with a view toward their resale or distribution; and Subscriber does not presently have any reason
              to anticipate any change in his/her circumstances or other event that would cause him/her to seek to sell the Options (or Shares received upon exercise of the Options);

          

        

      

       

      

    

    (c)      Subscriber has received no representations, warranties or assurances, express or implied, whatsoever, from the Company or from its
        officers, directors, employees, agents or attorneys regarding the Options or the performance of the Company, including but not limited to any representation or assurance as to (i) the economics or tax effects of the exercise of the Options, (ii)
        the length of time that s/he will be required to hold the Shares upon exercise of the Options, or (iii) any assurance that a market will ever exist for the Shares; no representations or promises have been made to Subscriber (and none have been
        relied upon) to induce Subscriber to enter into the Option Agreement except as expressly set forth in writing in such Agreement, the Plan, and other accompanying documents (if any) signed by an authorized representative of the Company;

     

    (d)      Subscriber has been advised that the Shares are not presently registered under any federal or state securities laws, and cannot be
        sold unless so registered or unless an exemption from such registration is available. Subscriber has been further advised that (i) there is no current market for the Shares, and no present likelihood that such a market will develop; (ii) the
        Company has no obligation to register its Shares under applicable securities laws, and may never do so, and therefore the Shares are illiquid; (iii) Subscriber therefore may be required to hold Shares indefinitely if s/he exercises the Options;
        (iv) related agreements with the Company and applicable securities laws may restrict Subscriber's ability to transfer the Shares to an otherwise willing purchaser; and (v) stock certificates evidencing the Shares will, upon exercise of the Options,
        contain a legend referring to restrictions on transferability;

     

    
      
        

    

    
      
        (e)     Subscriber understands that the Company is a start-up business, has not yet secured investor funding for
          the development of its nascent technology, does not have current operations or ongoing clinical studies, and has no present sales or other sources of revenue. Subscriber has been providing services to the Company and is familiar with its present
          circumstances.

      

       

      

    

    
      
        (f)      Subscriber understands that the Company has not obtained an opinion of tax counsel nor will it apply for
          a ruling from the Internal Revenue Service as to any of the tax consequences of an investment in the Shares. If Subscriber exercises the Options, Subscriber will be doing so with the objective of realizing an economic profit on his/her investment
          without regard to any federal income tax benefits that may be available by reason of the exercise of the Options;

      

       

      

    

    
      
        (g)      Subscriber understands that the Company may hereafter issue additional capital stock that may have the
          effect of diluting the Shares, and that may possess privileges and preferences that Subscriber's Shares do not enjoy, and that Subscriber will not have preemptive rights to acquire shares of such future issuances;

      

       

      

    

    
      
        (h)      Subscriber understands that the Options are being issued to Subscriber in partial consideration of
          his/her services and future services to the Company and that they are subject to a vesting schedule and future conditions of service, and some or all of the Options (or the Shares) may be forfeited to or repurchased by the Company if Subscriber's
          Continuous Service is terminated.

      

       

      

    

    
      
        3.        Possible S Corporation Status. In the
          event that the Company hereafter chooses to elect under Section 1362 of the Internal Revenue Code to be treated as a small business corporation, Subscriber agrees to consent to such election.

      

       

      

    

    
      
        4.        Restrictions and Limitations on Shares.
          Subscriber acknowledges that the following restrictions are applicable to Subscriber's purchase, and to his/her sale, transfer, hypothecation, or other encumbrance of the Shares:

      

       

      

    

    
      
        (a)      Subscriber is contemporaneously executing a Stock Option Agreement, and confirms that s/he has received
          and read a copy of such agreement, and confirms that the Options and any Shares acquired by him/her pursuant to the Options will be bound by the terms of such Agreement;

      

       

      

    

    
      
        (b)      the Options (and the Shares issued upon exercise thereof) are not, and Subscriber has no right to
          require that they be, registered under any applicable federal or state securities laws, and Subscriber agrees that the Shares shall not be sold, pledged, hypothecated, or otherwise transferred unless either (i) the Shares are registered under
          applicable federal and state securities laws, or (ii) the sale, pledge, hypothecation, or other transfer of the Shares is exempt from such registration;

      

       

      

    

    
      
        (c)      Subscriber acknowledges that s/he may be responsible for (i) compliance with conditions on transfer
          imposed by any securities laws, regulations or rulings, and (ii) certain expenses incurred by the Company for legal or accounting services in connection with reviewing or effecting a proposed transfer of the Shares;

      

       

      

    

    
      
        (d)       resale or transfer of Shares may be permissible only if the proposed transferee qualifies under applicable federal and state securities laws
          and regulations for an investment in the Company;

      

       

      

      
        
          

      

    

    
      
        (e)      Subscriber may contemporaneously be adopting the Company's Voting Stock Agreement, the Company's Right
          of First Refusal and Co-Sale Agreement and/or the Company's Investors' Rights Agreement (the "Shareholder Agreements"),

              if applicable, and confirms that if s/he is adopting such agreement, s/he has received and read a copy of such agreement(s), and confirms that the Options and any Shares acquired by him/her pursuant to the Options will be bound
          by the terms of such agreement(s); and

      

    

    
      
         

          

        (f)       legends will be placed on any certificate(s) or other document(s) evidencing the Shares reflecting the
          restrictions on transfer under applicable agreements and securities laws.

      

       

      

    

    
      
        5.        Power of Attorney. Subscriber hereby irrevocably constitutes and appoints the
          Chief Executive Officer and any Vice President of the Company with full power of substitution, as his/her agent and attorney-in-fact, in his/her name, place and stead, to make, execute, acknowledge, swear to, file, record, and deliver any and all
          instruments that may be required to (i) confirm his/her status as a shareholder of the Company (upon exercise of the Options), (ii) comply with applicable law, or (iii) correct any omission, inaccuracy, or error. Subscriber intends that the
          foregoing power of attorney is coupled with an interest and such grant shall be irrevocable. This power of attorney shall survive the bankruptcy or incapacity of the undersigned, or the transfer of all or any part of his/her interest in the
          Company. Any person dealing with the Company may conclusively rely upon the fact that any instrument executed pursuant to this power by such attorney-in-fact is authorized and binding, without further inquiry.

      

       

      

    

    
      
        6.        Miscellaneous.

      

       

      

    

    
      
        (a)       This Subscription shall be construed in accordance with and governed by Delaware law (without regard to
          its conflicts of law rules).

      

       

      

    

    
      
        (b)      This Subscription (together with the terms of the Plan, the Option, the Stock Option Agreement,
          including its exhibits, the Shareholder Buy-Sell Agreement, if any, and the Shareholder Agreements, as applicable, constitutes the entire agreement between the parties to such instruments with respect to the subject matter thereof and may be
          amended only by a writing executed by the parties hereto and any parties having a right to approve such amendment by reason of such other documents referred to herein.

      

       

      

    

    
      
        (c)      This Subscription and the representations and warranties contained herein and in the Options shall be
          binding upon Subscriber, and his/her heirs, executors, legal representatives, administrators, successors, and assigns. This Subscription shall survive Subscriber's death or incapacity.

      

       

      

    

    
      
        (d)      If any provision of this Subscription shall be held by a court of competent jurisdiction to be invalid
          or unenforceable, such invalid provision shall be reformed to the minimum extent necessary to render it valid and otherwise, such invalid or unenforceable provision shall be deemed severable and all other
          provisions of this Subscription shall continue to be enforceable to the fullest extent of the law, unless elimination of the invalid or unenforceable provision destroys the mutual benefits and objectives of this Agreement, in which event this
          Subscription and the rights acquired hereunder shall be null and void.

      

       

      

    

    
      
        (e)      Subscriber agrees to promptly execute any documents requested by the Chief Executive Officer of the
          Company that may be necessary to implement this Agreement or to correct any inaccuracies or errors contained herein or in the documents referred to in subsection 6(b) above.

      

       

      

    

    (1)      All terms used in any one number or gender shall be construed to include any other number or gender as the
        context may require.

     

    
      
        

    

    Subscriber represents that the information contained herein is complete and accurate. Subscriber understands that, but for the truth of the information contained herein, s/he
      would not be allowed by the Company to acquire the Options or the Shares. If in any respect such representations and warranties hereafter become untrue or inaccurate, Subscriber shall give immediate written notice of such fact to the Company,
      specifying which representations and warranties are no longer true and accurate and the reasons therefor, and shall hold the Company harmless from any claims, liabilities, damages or expenses resulting from any misrepresentation herein.

     

    [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

     

    
      
        

    

    IN WITNESS WHEREOF, Subscriber has executed this Subscription Agreement as of ______________.

     

    

     Options for _________ Shares exercisable at $_______  per share.

     

    
      	

            	

            
	

            	Subscriber:

            

    

     Accepted: 

     

    

    Dated: ____________________________

    
      

      

      
        	 LUMOS PHARMA, INC.

                	
                 

              
	 	 
	By:

              	

              	 	
                 

              
	

              	Richard J. Hawkins

              	
                 

              
	 	Chief Executive Officer	 

      

      

    

    
      
        

    

    EXHIBIT C TO STOCK OPTION AGREEMENT

     

    INVESTMENT REPRESENTATION STATEMENT

     

    (TO BE EXECUTED AND DELIVERED WITH EXERCISE NOTICE)

     

    OPTIONEE:

     

    COMPANY: LUMOS PHARMA, INC.

     

    SECURITIES: SHARES OF COMMON STOCK

     

    DATE: _____________________ , 20_

     

    In connection with the purchase of the referenced Securities, the undersigned Optionee represents to the Company the following:

     

    
      
        1.          Optionee is aware of the Company's business affairs and financial condition and has acquired
          sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Optionee is acquiring these Securities for investment for Optionee's own account only and not with a view to, or for resale in
          connection with, any "distribution" thereof within the meaning of the Securities Act of 1933, as amended (the "Securities Act").

      

       

      

    

    
      
        2.          Optionee acknowledges and understands that the Securities constitute "restricted securities" under
          the Securities Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Optionee's investment intent as expressed herein.
          In this connection, Optionee understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Optionee's representation was predicated solely upon a present intention to hold
          these Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, pending an increase or decrease in the market price of the Securities, or for a period of one year or any other fixed period in the future.
          Optionee further understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Optionee further acknowledges and understands that
          the Company is under no obligation to register the Securities. Optionee understands that the certificate evidencing the Securities will be imprinted with a legend which prohibits the transfer of the Securities unless they are registered or such
          registration is not required in the opinion of counsel satisfactory to the Company and any other legend required under applicable state securities laws.

      

       

      

    

    
      
        3.          Optionee is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the
          Securities Act, which, in substance, permit limited public resale of "restricted securities" acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the satisfaction of certain conditions. Rule 701 provides
          that if the issuer qualifies under Rule 701 at the time of the grant of the Option to the Optionee, the exercise will be exempt from registration under the Securities Act. In the event the Company becomes subject to the reporting requirements of
          Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) the Securities exempt under Rule 701 may be resold, subject to the satisfaction of
          certain of the conditions specified by Rule 144, including (1) the resale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as said term is defined under the Securities Exchange
          Act of 1934); and in the case of an affiliate, (2) the availability of certain public information about the Company, (3) the amount of Securities being sold during any three month period not exceeding the
          limitations specified in Rule 144(e), and (4) the timely filing of a Form 144, if applicable.

      

       

      

      
        
          

      

    

    In the event that the Company does not qualify under Rule 701 at the time of grant of the
      Option, then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which requires the resale to occur not less than one
      year after the later of the date the Securities were sold by the Company or the date the Securities were sold by an affiliate of the Company, within the meaning of Rule 144; and, in the case of acquisition of the Securities by an affiliate, or by a
      non-affiliate who subsequently holds the Securities less than two years, the satisfaction of the conditions set forth in sections (1), (2), (3) and (4) of the paragraph immediately above.

     

    4.          Optionee further understands that in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act,
      compliance with Regulation A, or compliance with some other registration exemption will be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive, the staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 will
      have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. Optionee
      understands that no assurances can be given that any such other registration exemption will be available in such event.

     

    
      	
               

            	OPTIONEE
	
               

            	
               

            
	
               

            	
               

            
	
               

            	
              (Signature)

            
	 	 

      	
               

            	   

            

      	
               

            	 (Name) 
	 	 
	
               

            	 Date: 	 

    

     

    

    
      
        

    

    EXHIBIT D TO STOCK OPTION AGREEMENT

     

    EARLY EXERCISE UNVESTED STOCK REPURCHASE AGREEMENT

      (TO BE EXECUTED ONLY IF EARLY EXERCISE IS PERMITTED)

     

    AGREEMENT between the undersigned Purchaser and Lumos Pharma, Inc. (the "Company") in consideration of the premises and the agreements contained herein. This Agreement is subject to the
      terms of the Company's 2012 Equity Incentive Plan, as amended, and the Option Agreement granted to Purchaser dated ____________. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to them in the Plan and
      the Option Agreement.

     

    RECITALS

     

    A.       Purchaser is a Service Provider and was granted an Option to purchase shares of the Company's Common Stock (the "Shares") pursuant to the Option Agreement.

     

    B.       With the Company's consent, Purchaser is being allowed to make an early exercise of
      its Option as to _______________ unvested Shares of the Company's Common Stock (the "Unvested Shares") by a contemporaneous Exercise Notice. In consideration therefor, this Agreement shall apply to such Unvested Shares.

     

    THEREFORE, the parties agree as follows:

     

    
      
        1.        Vesting Schedule. The Vesting
          Schedule in the Option Agreement (the "Vesting Schedule") shall continue to apply to all of the Unvested Shares to the same extent that it applied to the Option.

      

       

      

    

    
      
        
          
            2.        Repurchase

                Option.

          

        

      

       

      

    

    
      
        (a)      In the event Purchaser ceases to be a Service Provider (a "Termination of Service") before all Unvested Shares have vested, the Company and/or its designees (collectively, the "Option Holder") shall have an irrevocable option (the "Repurchase Option") for a period of ninety (90) days after the Termination of Service to exercise this option to
          repurchase up to all of the Unvested Shares (as of the date of such Termination of Service) at the original price per share paid by Purchaser multiplied by the number of Shares thus repurchased (the "Repurchase Price"). The Option Holder shall exercise
          the Repurchase Option by (i) delivering written notice of exercise to Purchaser (or Purchaser's legal representative) and to the Escrow Agent in accordance with the Joint Escrow Instructions attached as Exhibit

              2, and (ii) at the closing set by the Escrow Agent, at Company's option, (A) by delivering to Purchaser (or Purchaser's legal representative) a check in the full amount of the Repurchase
          Price, or (B) by canceling an amount of Purchaser's indebtedness to the Company equal to the Repurchase Price, or (C) by a combination of (A) and (B), so that the
          combined payment and cancellation of indebtedness equals the Repurchase Price. Upon closing and the payment of the Repurchase Price, the Option Holder(s) shall become the legal and beneficial owner(s) of the Unvested Shares being repurchased, and
          Purchaser shall take all actions requested by the Company and the Escrow Agent to consummate the transfer to the Option Holder(s).

      

    

     

    
      
        

    

    (b)      The Company may require any designee who desires to exercise a Repurchase Option as Option Holder to commit to
        pay to the Company the difference between the Repurchase Price and the Fair Market Value of the Unvested Shares to be repurchased (determined in good faith by the Company's Board of Directors as of the date of the designation).

     

    
      
        3.        Release of Vested Shares From Repurchase Option.

      

       

      

    

    The Repurchase Option shall lapse as to all Shares that have vested in accordance with the Vesting Schedule (as same may be accelerated where expressly permitted under the Plan,
      the Option Agreement or the Service Agreement) ("Vested Shares"). Once in each calendar year Purchaser shall be entitled, upon request, to receive a certificate(s) for all Shares that have been released from the Repurchase
      Option and the Company shall cooperate in instructing the Escrow Agent to provide same upon request.

     

    
      
        4.        Restriction on Transfer. Except as
          provided in this Agreement, neither the Unvested Shares nor any interest therein shall be transferred, encumbered or otherwise disposed of by Purchaser, other than by will or the laws of descent and distribution. Upon vesting, Vested Shares may
          be subject to the restrictions contained in the Company's Voting Agreement, Right of First Refusal and Co-Sale Agreement, and the Company's Investors' Rights Agreement (the "Shareholder Agreements"), as applicable. The provisions of this Section and Section 2 of this Agreement shall
          take precedence in the event of any inconsistency with any applicable Shareholder Agreement as to the repurchase of Unvested Shares. Purchaser may not assign its rights or delegate its obligations hereunder without the Company's prior written
          consent. In the event the restrictions in this Section 4 are violated by Purchaser the Unvested Shares shall be subject to repurchase by the Company (or its designees) for the Repurchase Price determined in accordance with Section 2(a) above, and
          such right of repurchase may be exercised at any time within ninety (90) days after the Company, through its senior corporate officers, learns of such violation.

      

       

      

    

    
      
        5.       Assignment by the Company. The rights
          of the Company under this Agreement shall be transferable to one or more persons or entities, and all rights and agreements hereunder shall inure to the benefit of, and be enforceable by the Company's successors and assigns.

      

       

      

    

    
      
        6.        Escrow of Unvested Shares.

      

       

      

    

    
      
        (a)      To ensure the availability for delivery of the Unvested Shares upon repurchase pursuant to the Repurchase
            Option, Purchaser hereby directs the Company to deliver to and deposit with the Company's Secretary or another escrow agent designated by the Company (the "Escrow Agent") all share certificates representing the Unvested Shares, together with the stock assignment duly endorsed in blank, in the form attached
            hereto as Exhibit I. The Unvested Shares and stock assignment shall be held by the Escrow Agent pursuant to the Joint Escrow Instructions executed by the
            Company and Purchaser in the form attached hereto as Exhibit 2.

      

    

     

    
      
        (b)      If one or more Option Holder(s) exercises the Repurchase Option, the Escrow Agent, upon receipt of
          written notice of such exercise from the Option Holders, shall take all steps contemplated by the Joint Escrow Instructions to accomplish the transfer of the Shares, and upon closing shall promptly cause
          certificate(s) to be issued for the Shares thus repurchased and shall deliver such certificates to the Option Holders in accordance with their respective rights.

      

       

      

      
        
          

      

    

    
      
        (c)      If the Repurchase Option expires unexercised or a portion of the Shares is otherwise released from the
          Repurchase Option, the Escrow Agent shall upon written request and reasonable confirmation, cause a new certificate to be issued for the released Shares and shall deliver the certificate to Purchaser as contemplated by Section 3 above.

      

       

      

    

    
      
        (d)      If, during the term of the Repurchase Option, there is (i) any stock dividend, stock split, stock
          combination, or other capital adjustment in the Shares (a "Capital Adjustment"), or (ii) any merger or sale of all or substantially all of the assets or other acquisition of the Company (a "Major
            Transaction"), all new, substituted or additional (or lesser) securities to which Purchaser thereby becomes entitled by reason of Purchaser's ownership
          of the Unvested Shares shall be immediately subject to the escrow, deposited with the Escrow Agent and included thereafter as "Shares" for purposes of this Agreement and the Repurchase Option. Pending exercise of the Repurchase Option, Purchaser
          shall enjoy the voting and dividend rights of a shareholder as to the Shares subject to the Repurchase Option and any restrictions applicable thereto.

      

       

      

    

    
      
        7.       Capital Adjustments. All references to
          the number of Shares and the Repurchase Price per share of the Unvested Shares shall be appropriately adjusted to reflect any Capital Adjustment or Major Transaction which may occur after the date of this Agreement, provided that (i) the
          aggregate Repurchase Price for all Unvested Shares then subject to the Repurchase Option shall not thereby be increased and (ii) the terms of the Plan shall govern the parties' rights in the event of a Major Transaction, as applicable.

      

       

      

    

    
      
        8.        Legends. In addition to any other
          legends prescribed by agreement or applicable securities laws, the share certificate(s) evidencing the Unvested Shares, if any, issued hereunder shall be endorsed with the following legend:

      

       

      

    

    THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS UPON TRANSFER AND RIGHTS OF REPURCHASE AS SET FORTH IN AN EARLY EXERCISE
      UNVESTED STOCK REPURCHASE AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

     

    
      
        9.      Tax Consequences. Purchaser has
          reviewed with Purchaser's own tax advisor, all tax consequences of Purchaser's investment and the transactions contemplated by this Agreement. Purchaser is relying solely on such advisor and not on any statements or representations of the Company or any of its agents. Purchaser understands that Purchaser (and not the Company) shall be responsible for Purchaser's own tax liability that may arise as a result of the transactions
          contemplated by this Agreement. Among other things, depending on the type of Option, income taxes may be imposed upon the exercise of the Option or the disposition of Shares acquired pursuant thereto. Section 83 (b) of the Code may afford
          Purchaser the right to file an election with the Internal Revenue Service that can, if timely filed, and under certain circumstances, minimize the amount of income taxes due by accelerating the date on which the income taxes would otherwise come
          due. However, there are strict time limitations (typically thirty days after the exercise of the Option) within which such an election must be filed, and a copy of the 83(b) election must also be
          filed with Purchaser's tax return for the calendar year in which the election was made. Purchaser has been advised to immediately obtain tax guidance from a qualified tax advisor as the responsibility for timely filing the 83(b) election is
          solely that of Purchaser. The Company assumes no obligation to provide tax advice.

      

       

      

    

    
      
        10.      Consent of Spouse. Purchaser's spouse is signing below
          to reflect his/her consent that the provisions of this Agreement shall bind any community property rights in the Shares.

      

    

     

    
      
        

    

     11.      General Provisions.

     

        

    (a)        Entire Agreement. This Agreement
      supersedes any prior representations, promises and agreements that are inconsistent with its terms with the exception that the terms of the Plan and the Option Agreement shall prevail in the event of an inconsistency. Optionee has not relied upon any
      representations or promises by the Company or its representatives in entering into this Agreement except as may be expressly contained in the Plan, the Option Agreement, and Purchaser's Service Agreement.

     

    (b)      Governing Law; Severability. This Option Agreement is governed by the
        internal substantive laws but not the choice of law rules of the State of Delaware. The terms of this Agreement shall be deemed severable, provided that if any provision is held invalid by a tribunal of competent jurisdiction it shall be reformed,
        if possible, to the minimum extent necessary to render it valid and enforceable.

     

    
      
        (c)     No
            Guarantee of Continued Service. OPTIONEE AGREES THAT EXCEPT AS PROVIDED IN THE OPTION AGREEMENT OR THE PLAN, THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER (NOT THROUGH THE ACT
          OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES BY EARLY EXERCISE). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND THE VESTING SCHEDULE DO NOT CONSTITUTE AN EXPRESS OR IMPLIED
          PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER DURING THE VESTING SCHEDULE, AND SHALL NOT LIMIT IN ANY WAY OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT (IN ACCORDANCE WITH OPTIONEE'S SERVICE AGREEMENT) TO TERMINATE OPTIONEE'S RELATIONSHIP AS A
          SERVICE PROVIDER.

         

        

      

    

    
      
        (d)      Review of
            Documents and Voluntary Consent. Optionee has been afforded an opportunity to read this Agreement and to obtain the advice of counsel prior to executing
          this Agreement and is signing same voluntarily and with a full understanding of the terms hereof.

      

       

      

    

    
      
        (e)      Notices. Any

          notice required or permitted to be given by either the Company or Purchaser pursuant to this Agreement shall be in writing and shall be deemed given when delivered personally or three days after posting certified mail, return receipt requested,
          postage prepaid, and addressed to the intended recipient, if to Purchaser, at its last known address reflected in the stock records of the Corporation; if to the Company, at its principal office, directed to the attention of its Chief Executive
          Officer; and if to the Escrow Agent, to the most current address that it furnishes to the parties.

      

       

      

    

    (f)       Nonwaiver. A party's failure to insist on strict enforcement of any
        provision of this Agreement in any one circumstance shall constitute a waiver of such provision (or any other provision), nor give rise to any estoppel, in any other circumstance.

     

    
      
        (g)       Further
            Assurances. Purchaser shall, upon request, execute such further documents as may be necessary or desirable to effectuate the purposes of this Agreement.

      

       

      

    

    
      
        (h)       Remedies.
          This Agreement may be enforced in equity without waiving any legal remedies for its breach.

      

       

      

      
        
          

      

    

    
      
        (i)       Effect. This

          Agreement shall bind and inure to the benefit of the parties' respective legal representatives, heirs, successors, and permitted assigns.

      

       

      

      
        	
                Dated:

              	 	, 20

                	 	 

        	
                 

              	
                 

              
	Lumos Pharma, Inc.	Purchaser
	
                 

              	
                 

              

        	By:	 	 	 

              	 

        	
                 

              	
                 

              
	
                
                  
                    
                      
                        Richard J. Hawkins

                      

                    

                  

                

              	Print Name:
	
                
                  
                    
                      Chief Executive OfficerExhibit 10.3

       

      

      LUMOS PHARMA, INC.

       

      

      2016 STOCK PLAN

       

      

      
        
          
            
              	 	
                      1.

                    	
                      ESTABLISHMENT, PURPOSE AND TERM OF PLAN.

                    

            

          

        

      

       

      1.1         Establishment. The Lumos Pharma, Inc. 2016 Stock Plan (the “Plan”) is hereby established effective as of July 11, 2016 (the “Effective Date”).

       

      1.2         Purpose. The purpose of the
          Plan is to advance the interests of the Participating Company Group and its stockholders by providing an incentive to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to
          contribute to the growth and profitability of the Participating Company Group. The Plan seeks to achieve this purpose by providing for Awards in the form of Options and Restricted Stock Awards.

       

      1.3         Term of Plan. The Plan shall continue in effect until its termination by the Board;
          provided, however, that all Awards shall be granted, if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or the date the Plan is duly approved by the stockholders of the Company.

       

        

      
        
          	

                	2.	
                  DEFINITIONS AND CONSTRUCTION.

                

        

      

      

      

      2.1         Definitions. Whenever used herein, the following terms shall have their respective
          meanings set forth below:

       

      (a)          “Award” means an Option,
          Restricted Stock Purchase Right or Restricted Stock Bonus granted under the Plan.

       

      (b)         “Award
            Agreement” means a written or electronic agreement between the Company and a Participant setting forth the terms, conditions and restrictions applicable to an Award.

       

      (c)         “Board” means the Board of Directors of the Company. If one or more Committees have been appointed by the Board to administer the Plan, “Board” also means such Committee(s).

       

      (d)         “Cause” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written agreement between a Participant and a Participating Company applicable to an Award, any
          of the following: (i) the Participant’s theft, dishonesty, willful misconduct, breach of fiduciary duty for personal profit, or falsification of any Participating Company documents or records; (ii) the Participant’s material failure to abide by a
          Participating Company’s code of conduct or other policies (including, without limitation, policies relating to confidentiality and reasonable workplace conduct);

       

      (iii) the Participant’s unauthorized use, misappropriation, destruction or diversion of any tangible or intangible asset or corporate opportunity of a Participating Company (including, without limitation, the
        Participant’s improper use or disclosure of a Participating Company’s confidential or proprietary information); (iv) any intentional act by the Participant which has a material detrimental effect on a Participating Company’s reputation or business;
        (v) the Participant’s repeated failure or inability to perform any reasonable assigned duties after written notice from a Participating Company of, and a reasonable opportunity to cure, such failure or inability; (vi) any material breach by the
        Participant of any employment or service agreement between the Participant and a Participating Company, which breach is not cured pursuant to the terms of such agreement; or (vii) the Participant’s conviction (including any plea of guilty or nolo
        contendere) of any criminal act involving fraud, dishonesty, misappropriation or moral turpitude, or which impairs the Participant’s ability to perform his or her duties with a Participating Company.

       

      

      
        
          

      

      (e)         “Change in Control” means, unless such term or an equivalent term is otherwise defined by the applicable Award Agreement or other written agreement between the Participant and a Participating Company applicable to an Award,
          the occurrence of any one or a combination of the following:

       

      (i)           an Ownership Change Event or a series of related Ownership Change Events (collectively, a “Transaction”) in which the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or
          indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in
          Section 2.1(u)(iii), the entity to which the assets of the Company were transferred (the “Transferee”),
          as the case may be; or

       

      (ii)          a date specified by the Board following approval by the stockholders of a plan of complete liquidation or dissolution of the
          Company; provided, however, that a Change in Control shall not include a transaction described in subsection (i) of this Section 2.1(e) in which a majority of the members of the board of directors of the continuing, surviving or successor entity,
          or parent thereof, immediately after such transaction is comprised of Incumbent Directors. For purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting
          securities of one or more corporations or other business entities which own the Company or the Transferee, as the case may be, either directly or through one or more subsidiary corporations or other business entities. The Board shall determine
          whether multiple events described in subsections (i) and (ii) of this Section 2.1(e) are related and to be treated in the aggregate as a single Change in Control, and its determination shall be final, binding and conclusive.

       

      (f)          “Code” means the Internal Revenue Code of 1986, as amended, and any applicable regulations and administrative guidelines promulgated thereunder.

       

      (g)         “Committee” means the compensation committee or other committee or subcommittee of the Board duly appointed to administer the Plan and having such powers as specified by the Board. Unless the powers of the Committee
          have been specifically limited, the Committee shall have all of the powers of the Board granted herein, including, without limitation, the power to amend or terminate the Plan at any time, subject to the terms of the Plan and any applicable
          limitations imposed by law.

       

      (h)         “Company” means Lumos Pharma, Inc., a Delaware corporation, and any successor thereto.

       

      
        
          

      

      (i)          “Consultant” means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to a Participating Company, provided that the identity of such person, the nature of such services
          or the entity to which such services are provided would not preclude the Company from offering or selling securities to such person pursuant to the Plan in reliance on either the exemption from registration provided by Rule 701 under the
          Securities Act or, if the Company is required to file reports pursuant to Section 13 or 15(d) of the Exchange Act, registration on a Form S-8 Registration Statement under the Securities Act.

       

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

       

      (k)          “Disability” means the inability of the
          Participant, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of the Participant’s position with the Participating Company Group because of the sickness or injury of the Participant.

       

      (l)          “Employee” means any person treated as an employee (including an Officer or a Director who is also treated as an employee) in the records of a Participating Company and, with respect to any Incentive Stock Option
          granted to such person, who is an employee for purposes of Section 422 of the Code; provided, however, that neither service as a Director nor payment of a director’s fee shall be sufficient to constitute employment for purposes of the Plan. The
          Company shall determine in good faith and in the exercise of its discretion whether an individual has become or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment, as the case may be.
          For purposes of an individual’s rights, if any, under the terms of the Plan as of the time of the Company’s determination of whether or not the individual is an Employee, all such determinations by the Company shall be final, binding and
          conclusive as to such rights, if any, notwithstanding that the Company or any court of law or governmental agency subsequently makes a contrary determination as to such individual’s status as an Employee.

       

      (m)        “Exchange Act” means the Securities Exchange Act of 1934, as amended.

       

      (n)         “Fair Market
            Value” means, as of any date, the value of a share of Stock or other property as determined by the Board, in its discretion, or by the Company, in its discretion, if such determination is
          expressly allocated to the Company herein, subject to the following:

       

      (i)           If, on such date, the Stock is listed or quoted on a national or regional securities exchange or quotation system, the Fair
          Market Value of a share of Stock shall be the closing price of a share of Stock as quoted on the national or regional securities exchange or quotation system constituting the primary market for the Stock, as reported in The Wall Street Journal or such other source as the Company deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or
          quotation system, the date on which the Fair Market Value shall be established shall be the last day on which the Stock was so traded or quoted prior to the relevant date, or such other appropriate day as shall be determined by the Board, in its
          discretion.

       

        

      
        
          

      

      (ii)          If, on such date, the Stock is not listed or quoted on a national or regional securities exchange or quotation system, the
          Fair Market Value of a share of Stock shall be as determined by the Board in good faith without regard to any restriction other than a restriction which, by its terms, will never lapse, and in a manner consistent with the requirements of Section
          409A.

       

      (o)         “Incentive
            Stock Option” means an Option intended to be (as set forth in the Award Agreement) and which qualifies as an incentive stock option within the meaning of Section 422(b) of the Code.

       

      (p)         “Incumbent
            Director” means a director who either (i) is a member of the Board as of the Effective Date or (ii) is elected, or nominated for election, to the Board with the affirmative votes of at least a
          majority of the Incumbent Directors at the time of such election or nomination (but excluding a director who was elected or nominated in connection with an actual or threatened proxy contest relating to the election of directors of the Company).

       

      (q)         “Insider” means an Officer, a Director or other person whose transactions in Stock are subject to Section 16 of the Exchange Act.

       

      (r)         “Nonstatutory
            Stock Option” means an Option not intended to be (as set forth in the Award Agreement) or which does not qualify as an incentive stock option within the meaning of Section 422(b) of the Code.

       

      

      (s)          “Officer” means any person designated by the
          Board as an officer of the Company.

       

      (t)          “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

       

      (u)         “Ownership
            Change Event” means the occurrence of any of the following with respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the
          stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a
          merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company).

       

      (v)         “Parent
            Corporation” means any present or future “parent corporation” of the Company, as defined in Section 424(e) of the Code.

       

      (w)         “Participant” means any eligible person who has been granted one or
          more Awards.

       

      (x)         “Participating
            Company” means the Company or any Parent Corporation or Subsidiary Corporation.

       

      (y)         “Participating
            Company Group” means, at any point in time, all entities collectively which are then Participating Companies.

       

        

      
        
          

      

      (z)          “Predecessor Plan” means the Company’s 2012 Equity Incentive Plan.

       

      (aa)       “Restricted Stock Award” means an Award in the form of a Restricted Stock Bonus or a Restricted Stock Purchase Right.

       

      (bb)       “Restricted Stock Bonus” means Stock
        granted to a Participant pursuant to Section 7.

       

      (cc)       “Restricted Stock Purchase Right” means a
        right to purchase Stock granted to a Participant pursuant to Section 7.

       

      (dd)       “Rule 16b-3” means Rule 16b-3 under the
        Exchange Act, as amended from time to time, or any successor rule or regulation.

       

      (ee)       “Section 409A” means Section 409A of the
        Code.

       

      (ff)        “Securities Act” means the Securities Act of 1933, as amended.

       

      (gg)       “Service” means a Participant’s employment
        or service with the Participating Company Group, whether as an Employee, a Director or a Consultant. Unless otherwise provided by the Board, a Participant’s Service shall not be deemed to have terminated merely because of a change in the capacity
        in which the Participant renders Service or a change in the Participating Company for which the Participant renders Service, provided that there is no interruption or termination of the Participant’s Service. Furthermore, a Participant’s Service
        shall not be deemed to have been interrupted or terminated if the Participant takes any military leave, sick leave, or other bona fide leave of absence approved by the Company. However, unless otherwise provided by the Board, if any such leave
        taken by a Participant exceeds ninety (90) days, then on the ninety-first (91st) day following the commencement of such leave the Participant’s Service shall be deemed to have terminated, unless the Participant’s right to return to Service is
        guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or required by law, an unpaid leave of absence shall not be treated as Service for purposes of determining vesting under the Participant’s
        Award Agreement. A Participant’s Service shall be deemed to have terminated either upon an actual termination of Service or upon the business entity for which the Participant performs Service ceasing to be a Participating Company. Subject to the
        foregoing, the Company, in its discretion, shall determine whether the Participant’s Service has terminated and the effective date of and reason for such termination.

       

      (hh)       “Stock” means the common stock of the
        Company, as adjusted from time to time in accordance with Section 4.44.4. (ii)   “Subsidiary Corporation” means

        any present or future “subsidiary corporation” of the Company, as defined in Section 424(f) of the Code.

       

      (jj)         “Ten Percent Stockholder” means a person who, at the time an Award is granted to such person, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company
          within the meaning of Section 422(b)(6) of the Code.

       

      
        
          

      

      (kk)       “Trading Compliance Policy” means the
        written policy of the Company pertaining to the purchase, sale, transfer or other disposition of the Company’s equity securities by Directors, Officers, Employees or other service providers who may possess material, nonpublic information regarding
        the Company or its securities.

       

      (ll)         “Vesting Conditions” mean those conditions established in accordance with the Plan prior to the satisfaction of which an Award or shares subject to an Award remain subject to forfeiture or a repurchase option in favor of the
          Company exercisable for the Participant’s monetary purchase price, if any, for such shares upon the Participant’s termination of Service or failure of a performance condition to be satisfied.

       

      2.2         Construction. Captions and titles contained herein are for convenience only and shall
          not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be
          exclusive, unless the context clearly requires otherwise.

       

        

      
        
          	

                	3.	
                  ADMINISTRATION.

                

        

      

      

      

      3.1         Administration by the Board. The Plan shall be administered by the Board. All questions
          of interpretation of the Plan, of any Award Agreement or of any other form of agreement or other document employed by the Company in the administration of the Plan or of any Award shall be determined by the Board, and such determinations shall be
          final, binding and conclusive upon all persons having an interest in the Plan or such Award, unless fraudulent or made in bad faith. Any and all actions, decisions and determinations taken or made by the Board in the exercise of its discretion
          pursuant to the Plan or Award Agreement or other agreement thereunder (other than determining questions of interpretation pursuant to the preceding sentence) shall be final, binding and conclusive upon all persons having an interest therein. All
          expenses incurred in connection with the administration of the Plan shall be paid by the Company.

       

      3.2          Authority of Officers. Any Officer shall have the authority to act on behalf of
        the Company with respect to any matter, right, obligation, determination or election that is the responsibility of or that is allocated to the Company herein, provided that the Officer has apparent authority with respect to such matter, right,
        obligation, determination or election. 

       

      3.3          Powers of the Board. In
          addition to any other powers set forth in the Plan and subject to the provisions of the Plan, the Board shall have the full and final power and authority, in its discretion:

       

      (a)          to determine the persons to whom, and the time or times at which, Awards shall be granted and the number of shares of Stock to
          be subject to each Award;

       

      
        
          

      

      (b)          to determine the type of Award granted;

       

      (c)          to determine the Fair Market Value of shares of Stock or other property;

       

      (d)          to determine the terms, conditions and restrictions applicable to each Award (which need not be identical) and any shares
          acquired pursuant thereto, including, without limitation, (i) the exercise or purchase price of shares pursuant to any Award, (ii) the method of payment for shares purchased pursuant to any Award, (iii) the method for satisfaction of any tax
          withholding obligation arising in connection with any Award, including by the withholding or delivery of shares of Stock, (iv) the timing, terms and conditions of the exercisability or vesting of any Award or any shares acquired pursuant thereto,
          (v) the time of expiration of any Award, (vi) the effect of any Participant’s termination of Service on any of the foregoing, and (vii) all other terms, conditions and restrictions applicable to any Award or shares acquired pursuant thereto not
          inconsistent with the terms of the Plan;

       

      (e)          to approve one or more forms of Award Agreement;

       

      (f)           to amend, modify, extend, cancel or renew any Award or to waive any restrictions or conditions applicable to any Award or any
          shares acquired pursuant thereto;

       

      (g)          to reprice or otherwise adjust the exercise price of any Option, or to grant in substitution for any Option a new Award covering
          the same or different number of shares of Stock;

       

      (h)          to accelerate, continue, extend or defer the exercisability or vesting of any Award or any shares acquired pursuant thereto,
          including with respect to the period following a Participant’s termination of Service;

       

      (i)           to prescribe, amend or rescind rules, guidelines and policies relating to the Plan, or to adopt sub-plans or supplements to,
          or alternative versions of, the Plan, including, without limitation, as the Board deems necessary or desirable to comply with the laws of, or to accommodate the tax policy, accounting principles or custom of, foreign jurisdictions whose residents
          may be granted Awards; and

       

      (j)           to correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award Agreement and to make all
          other determinations and take such other actions with respect to the Plan or any Award as the Board may deem advisable to the extent not inconsistent with the provisions of the Plan or applicable law.

       

      3.4          Administration with Respect to Insiders. With respect to
          participation by Insiders in the Plan, at any time that any class of equity security of the Company is registered pursuant to Section 12 of the Exchange Act, the Plan shall be administered in compliance with the requirements, if any, of
        Rule 16b-3.

       

      

      
        
          

      

      3.5         Indemnification. In addition to such other rights of indemnification as they may have
          as members of the Board or as officers or employees of the Participating Company Group, to the extent permitted by applicable law, members of the Board and any officers or employees of the Participating Company Group to whom authority to act for
          the Board or the Company is delegated shall be indemnified by the Company against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection with the defense of any action, suit or proceeding, or in
          connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or any right granted hereunder, and against all amounts paid by them in
          settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by them in satisfaction of a judgment in any such action, suit or proceeding, except in relation to matters as to which it
          shall be adjudged in such action, suit or proceeding that such person is liable for gross negligence, bad faith or intentional misconduct in duties; provided, however, that within sixty (60) days after the institution of such action, suit or
          proceeding, such person shall offer to the Company, in writing, the opportunity at its own expense to handle and defend the same.

       

        

      
        
          	 	
                  4.

                	
                  SHARES SUBJECT TO PLAN.

                

        

        

        

      

      4.1         Maximum Number of Shares Issuable. Subject to adjustment as provided in Sections 4.2
          and 4.4, the maximum aggregate number of shares of Stock that may be issued under the Plan shall be two million, seven hundred ninety thousand, five hundred eighty-three (2,790,583) and shall consist of authorized but unissued or reacquired
          shares of Stock or any combination thereof. Notwithstanding the foregoing, at any such time as the offer and sale of securities pursuant to the Plan is subject to compliance with Section 260.140.45 of Title 10 of the California Code of
          Regulations (“Section 260.140.45”), the total number of shares of Stock issuable upon the exercise of
          all outstanding Awards (together with options outstanding under any other stock plan of the Company) and the total number of shares provided for under any stock bonus or similar plan of the Company shall not exceed thirty percent (30%) (or such
          other higher percentage limitation as may be approved by the stockholders of the Company pursuant to Section 260.140.45) of the then outstanding shares of the Company as calculated in accordance with the conditions and exclusions of Section
          260.140.45.

       

      4.2         Adjustment for Unissued or Forfeited Predecessor Plan Shares. The maximum aggregate
          number of shares of Stock that may be issued under the Plan as set forth in Section 4.1 shall be cumulatively increased from time to time by:

       

      (a)          the aggregate number of shares of Stock that remain available for the future grant of awards under the Predecessor Plan
          immediately prior to its termination as of the Effective Date;

       

      (b)          the number of shares of Stock subject to that portion of any option or other award outstanding pursuant to the Predecessor Plan
          as of the Effective Date which, on or after the Effective Date, expires or is terminated or canceled for any reason without having been exercised or settled in full; and

       

      (c)           the number of shares of Stock acquired pursuant to the Predecessor Plan subject to forfeiture or repurchase by the Company for
          an amount not greater than the Participant’s purchase price which, on or after the Effective Date, is so forfeited or repurchased; provided, however, that the aggregate number of shares of Stock
          authorized for issuance under the Predecessor Plan that may become authorized for issuance under the Plan pursuant to this Section 4.2 shall not exceed nine hundred twenty thousand, nine hundred seven (920,907) shares.

       

      
        
          

      

      4.3         Share Counting. If an outstanding Award for any reason expires or is terminated or
          canceled without having been exercised or settled in full, or if shares of Stock acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company for an amount not greater than the Participant’s
          exercise or purchase price, the shares of Stock allocable to the terminated portion of such Award or such forfeited or repurchased shares of Stock shall again be available for issuance under the Plan. Shares of Stock shall not be deemed to have
          been issued pursuant to the Plan (a) with respect to any portion of an Award that is settled in cash or (b) to the extent such shares are withheld or reacquired by the Company in satisfaction of tax withholding obligations pursuant to Section
          10.2. If the exercise price of an Option is paid by tender to the Company, or attestation to the ownership, of shares of Stock owned by the Participant, or by means of a Net Exercise, the number of shares available for issuance under the Plan
          shall be reduced by the net number of shares issued upon the exercise of the Option.

       

      4.4         Adjustments for Changes in Capital Structure. Subject to any required action by the stockholders of the Company and the requirements of Sections 409A and 424 of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of
          consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares,
          exchange of shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting regular, periodic cash dividends)
          that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number and kind of shares subject to the Plan and to any outstanding Awards, in the ISO Share Limit set forth
          in Section 5.3(a), and in the exercise or purchase price per share under any outstanding Awards in order to prevent dilution or enlargement of Participants’ rights under the Plan. For purposes of the foregoing, conversion of any convertible
          securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that are subject to outstanding Awards are exchanged for,
          converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Board may
          unilaterally amend the outstanding Awards to provide that such Awards are for New Shares. In the event of any such amendment, the number of shares subject to, and the exercise or purchase price per share of, the outstanding Awards shall be
          adjusted in a fair and equitable manner as determined by the Board, in its discretion. Any fractional share resulting from an adjustment pursuant to this Section shall be rounded down to the nearest whole number, and the exercise or purchase
          price per share shall be rounded up to the nearest whole cent. In no event may the exercise or purchase price, if any, under any Award be decreased to an amount less than the par value, if any, of the stock subject to the Award. Such adjustments
          shall be determined by the Board, and its determination shall be final, binding and conclusive.

       

      4.5          Assumption or Substitution of Awards. The Board may, without affecting the number of
          shares of Stock available pursuant to Section 4.1, authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition of property or stock, or reorganization upon such terms and conditions
          as it may deem appropriate, subject to compliance with Section 409A and any other applicable provisions of the Code.

       

      
        
          

      

      
        
          	

                	5.	
                  ELIGIBILITY, PARTICIPATION AND OPTION LIMITATIONS.

                

        

      

       

      5.1         Persons Eligible for Awards. Awards

          may be granted only to Employees, Consultants and Directors.

       

        

      5.2         Participation in the Plan. Awards are granted solely at the discretion of the Board.
          Eligible persons may be granted more than one Award. However, eligibility in accordance with this Section shall not entitle any person to be granted an Award, or, having been granted an Award, to be granted an additional Award.

       

        

      5.3         Incentive Stock Option Limitations.

       

      (a)          Maximum Number of Shares Issuable Pursuant to Incentive Stock Options. Subject

          to Section 4.1 and adjustment as provided in Sections 4.2 and 4.4, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock Options shall not exceed three million, seven hundred
          eleven thousand, four hundred ninety (3,711,490) shares (the “ISO Share Limit”). The maximum aggregate
          number of shares of Stock that may be issued under the Plan pursuant to all Awards other than Incentive Stock Options shall be the number of shares determined in accordance with Section 4.1, subject to adjustment as provided in Sections 4.2 and
          4.4.

       

      (b)          Persons Eligible. An Incentive Stock Option may be granted only to
          a person who, on the effective date of grant, is an Employee. Any person who is not an Employee on the effective date of the grant of an Option to such person may be granted only a Nonstatutory Stock Option.

       

      (c)          Fair Market Value Limitation. To the extent that options designated as Incentive Stock Options (granted under all stock plans of the Participating Company Group, including the Plan) become exercisable by a Participant for the first time during
          any calendar year for stock having a Fair Market Value greater than One Hundred Thousand Dollars ($100,000), the portion of such options which exceeds such amount shall be treated as Nonstatutory Stock Options. For purposes of this Section,
          options designated as Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market Value of stock shall be determined as of the time the option with
          respect to such stock is granted. If the Code is amended to provide for a limitation different from that set forth in this Section, such different limitation shall be deemed incorporated herein effective as of the date and with respect to such
          Options as required or permitted by such amendment to the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonstatutory Stock Option in part by reason of the limitation set forth in this Section, the Participant may
          designate which portion of such Option the Participant is exercising. In the absence of such designation, the Participant shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Upon exercise of the Option,
          shares issued pursuant to each such portion shall be separately identified.

       

      
        
          

      

      
        	 	
                6.

              	
                STOCK OPTIONS.

              

      

       

      Options shall be evidenced by Award Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall establish. Such Award Agreements may incorporate all or any
        of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:

       

      6.1         Exercise Price. The
          exercise price for each Option shall be established in the discretion of the Board; provided, however, that (a) the exercise price per share for an Option shall be not less than the Fair Market Value of a share of Stock on the effective date of
          grant of the Option and (b) no Incentive Stock Option granted to a Ten Percent Stockholder shall have an exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on the effective date of grant
          of the Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with an exercise price less than the minimum exercise price set forth above if such Option is granted
          pursuant to an assumption or substitution for another option in a manner that would qualify under the provisions of Section 409A or Section 424(a) of the Code, as applicable.

       

      6.2         Exercisability and Term of Options. Options
          shall be exercisable at such time or times, or upon such event or events, and subject to such terms, conditions, performance criteria and restrictions as shall be determined by the Board and set forth in the Award Agreement evidencing such
          Option; provided, however, that (a) no Option shall be exercisable after the expiration of ten (10) years after the effective date of grant of such Option, (b) no Incentive Stock Option granted to a Ten Percent Stockholder shall be exercisable
          after the expiration of five (5) years after the effective date of grant of such Option, and (c) no Option granted to an Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, shall be first
          exercisable until at least six (6) months following the date of grant of such Option (except in the event of such Employee’s death, disability or retirement, upon a Change in Control, or as otherwise permitted by the Worker Economic Opportunity
          Act). Subject to the foregoing, unless otherwise specified by the Board in the grant of an Option, each Option shall terminate ten (10) years after the effective date of grant of the Option, unless earlier terminated in accordance with its
          provisions.

       

      6.3         Payment of Exercise Price. (a)
          Forms of Consideration Authorized. Except as otherwise provided below, payment of the exercise price for the number of shares of Stock being purchased pursuant to any Option shall be
          made (i) in cash, by check or in cash equivalent, (ii) if permitted by the Company and subject to the limitations contained in Section 6.3(b), by means of (1) a Stock Tender Exercise, (2) a Cashless Exercise or (3) a Net Exercise; (iii) by such
          other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (iv) by any combination thereof. The Board may at any time or from time to time grant Options which do not permit all of the
          foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict one or more forms of consideration.

       

      (b)          Limitations on Forms of Consideration.

       

      (i)           Stock Tender Exercise. A “Stock Tender Exercise” means the
          delivery of a properly executed exercise notice accompanied by a Participant’s tender to the Company, or attestation to the ownership, in a form acceptable to the Company of whole shares of Stock owned by the Participant having a Fair Market
          Value that does not exceed the aggregate exercise price for the shares with respect to which the Option is exercised. A Stock Tender Exercise shall not be permitted if it would constitute a violation of the provisions of any law, regulation or
          agreement restricting the redemption of the Company’s stock. If required by the Company, an Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such shares either have been owned by the
          Participant for a period of time required by the Company (and not used for another option exercise by attestation during such period) or were not acquired, directly or indirectly, from the Company.

       

      
        
          

      

      (ii)          Cashless Exercise. A Cashless Exercise shall be permitted only
          upon the class of shares subject to the Option becoming publicly traded in an established securities market. A “Cashless Exercise” means the delivery of a properly executed exercise notice together with irrevocable instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to
          some or all of the shares being acquired upon the exercise of the Option (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal
          Reserve System). The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to establish, decline to approve or terminate any program or procedures for the exercise of Options by means of a Cashless
          Exercise, including with respect to one or more Participants specified by the Company notwithstanding that such program or procedures may be available to other Participants.

       

      (iii)         Net Exercise. A “Net Exercise” means the delivery of a properly executed exercise notice followed by a procedure pursuant to which (1) the Company will reduce the
          number of shares otherwise issuable to a Participant upon the exercise of an Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate exercise price for the shares with respect to which the Option
          is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued.

       

      
        
          	

                	6.4	
                  Effect of Termination of Service.

                

        

      

       

      (a)          Option Exercisability. Subject

          to earlier termination of the Option as otherwise provided by this Plan and unless a longer exercise period is provided by the Board, an Option shall terminate immediately upon the Participant’s termination of Service to the extent that it is
          then unvested and shall be exercisable after the Participant’s termination of Service to the extent it is then vested only during the applicable time period determined in accordance with this Section and thereafter shall terminate:

       

      (i)           Disability. If the Participant’s Service terminates because of
          the Disability of the Participant, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant (or the Participant’s guardian or legal
          representative) at any time prior to the expiration twelve (12) months (or such longer or shorter period (but not less than six (6) months) provided by the Award Agreement) after the date on which the Participant’s Service terminated, but in any
          event no later than the date of expiration of the Option’s term as set forth in the Award Agreement evidencing such Option (the “Option Expiration Date”).

       

        

      
        
          

      

      (ii)          Death. If the Participant’s Service terminates because of the
          death of the Participant, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant’s legal representative or other person who acquired
          the right to exercise the Option by reason of the Participant’s death at any time prior to the expiration of twelve (12) months (or such longer or shorter period (but not less than six (6) months) provided by the Award Agreement) after the date
          on which the Participant’s Service terminated, but in any event no later than the Option Expiration Date. The Participant’s Service shall be deemed to have terminated on account of death if the Participant dies within thirty (30) days (or such
          longer period provided by the Board) after the Participant’s termination of Service.

       

      (iii)         Termination for Cause. Notwithstanding any other provision of
          the Plan to the contrary, if the Participant’s Service is terminated for Cause, the Option shall terminate in its entirety and cease to be exercisable immediately upon such termination of Service.

       

      (iv)         Other Termination of Service. If the Participant’s Service
          terminates for any reason, except Disability, death or Cause, the Option, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant at any time prior
          to the expiration of three (3) months (or such longer or shorter period (but not less than thirty (30) days) provided by the Award Agreement) after the date on which the Participant’s Service terminated, but in any event no later than the Option
          Expiration Date.

       

      (b)          Extension if Exercise Prevented by Law. Notwithstanding the foregoing other than termination of Service for Cause, if the exercise of an Option within the applicable time periods set forth in Section 6.4(a) is prevented by the provisions of Section 11 below, the
          Option shall remain exercisable until the later of (i) thirty (30) days after the date such exercise first would no longer be prevented by such provisions or (ii) the end of the applicable time period under Section 6.4(a), but in any event no
          later than the Option Expiration Date.

       

      6.5         Transferability of Options. During the lifetime of the Participant, an Option shall be
          exercisable only by the Participant or the Participant’s guardian or legal representative. An Option shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by
          creditors of the Participant or the Participant’s beneficiary, except transfer by will or by the laws of descent and distribution; provided, however, that to the extent permitted by the Board, in its discretion, and set forth in the Award
          Agreement evidencing such Option, an Option shall be assignable or transferable subject to the applicable limitations, if any, described in Rule 701 under the Securities Act and the General Instructions to Form S-8 Registration Statement under
          the Securities Act or, in the case of an Incentive Stock Option, only as permitted by applicable regulations under Section 421 of the Code in a manner that does not disqualify such Option as an Incentive Stock Option. Notwithstanding the
          foregoing, for so long as the Company is relying on the exemption provided by Rule 12h-1(f) under the Exchange Act, no Option or, prior to its exercise, the shares to be issued upon the exercise of the Option, shall be transferred except in
          compliance with the restrictions on transfer under Rule 12h-1(f) (including the requirement under such rule that any permitted transferee may not further transfer the Option) or be made subject to any short position, “put equivalent position” or
          “call equivalent position” by the Participant, as such terms are defined in Rule 16a-1 of the Exchange Act.

       

      
        
          

      

      
        
          	

                	7.	
                  RESTRICTED STOCK AWARDS.

                

        

      

       

      Restricted Stock Awards shall be evidenced by Award Agreements specifying whether the Award is a Restricted Stock Bonus or a Restricted Stock Purchase Right and the number of shares of Stock subject to the Award, in
        such form as the Board shall establish. Such Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and conditions:

       

      7.1         Types of Restricted Stock Awards Authorized. Restricted Stock Awards may be granted in the form of either a Restricted Stock Bonus or a Restricted Stock Purchase
        Right. Restricted Stock Awards may be granted upon such conditions as the Board shall determine, including, without limitation, upon the attainment of one or more performance goals.

       

      7.2         Purchase Price. The purchase price for shares of Stock issuable under each Restricted Stock Purchase Right shall be established by the Board in its discretion. No
        monetary payment (other than applicable tax withholding) shall be required as a condition of receiving shares of Stock pursuant to a Restricted Stock Bonus, the consideration for which shall be services actually rendered to a Participating Company
        or for its benefit. Notwithstanding the foregoing, if required by applicable state corporate law, the Participant shall furnish consideration in the form of cash or past services rendered to a Participating Company or for its benefit having a value
        not less than the par value of the shares of Stock subject to a Restricted Stock Award.

       

      7.3         Purchase Period. A Restricted Stock Purchase Right shall be exercisable within a
        period established by the Board, which shall in no event exceed thirty (30) days from the effective date of the grant of the Restricted Stock Purchase Right. 

       

      7.4         Payment of Purchase Price. Except as otherwise provided below, payment of the
        purchase price for the number of shares of Stock being purchased pursuant to any Restricted Stock Purchase Right shall be made (a) in cash, by check or in cash equivalent, (b) by such other consideration as may be approved by the Board from time to
        time to the extent permitted by applicable law, or (c) by any combination thereof. 

       

      7.5         Vesting and Restrictions on Transfer. Shares issued pursuant to any Restricted Stock
          Award may (but need not) be made subject to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or performance criteria, as shall be established by the Board and set forth in the Award Agreement
          evidencing such Award. During any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, such shares may not be sold, exchanged, transferred, pledged, assigned or otherwise disposed of other
          than pursuant to an Ownership Change Event or as provided in Section 7.8. The Board, in its discretion, may provide in any Award Agreement evidencing a Restricted Stock Award that, if the satisfaction of Vesting Conditions with respect to any
          shares subject to such Restricted Stock Award would otherwise occur on a day on which the sale of such shares would violate the provisions of the Trading Compliance Policy, then satisfaction of the Vesting Conditions automatically shall be
          determined on the next trading day on which the sale of such shares would not violate the Trading Compliance Policy. Upon request by the Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the
          receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares of Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer
          restrictions.

       

        

      
        
          

      

      7.6         Voting Rights; Dividends and Distributions. Except as provided in this Section, Section
          7.5 and any Award Agreement, during any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, the Participant shall have all of the rights of a stockholder of the Company holding shares of
          Stock, including the right to vote such shares and to receive all dividends and other distributions paid with respect to such shares; provided, however, that if so determined by the Board and provided by the Award Agreement, such dividends and
          distributions shall be subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with respect to which such dividends or distributions were paid, and otherwise shall be paid no later than the end of the calendar
          year in which such dividends or distributions are paid to stockholders (or, if later, the 15th day of the third month following the date such dividends or distributions are paid to stockholders). In the event of a dividend or distribution paid in
          shares of Stock or other property or any other adjustment made upon a change in the capital structure of the Company as described in Section 4.4, any and all new, substituted or additional securities or other property (other than regular,
        periodic cash dividends) to which the Participant is entitled by reason of the Participant’s Restricted Stock Award shall be immediately subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with respect to
        which such dividends or distributions were paid or adjustments were made. 

       

      7.7         Effect of Termination of Service. Unless otherwise provided by the Board in the Award
          Agreement evidencing a Restricted Stock Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s death or disability), then (a) the Company shall have the option to repurchase for
          the purchase price paid by the Participant any shares acquired by the Participant pursuant to a Restricted Stock Purchase Right which remain subject to Vesting Conditions as of the date of the Participant’s termination of Service and (b) the
          Participant shall forfeit to the Company any shares acquired by the Participant pursuant to a Restricted Stock Bonus which remain subject to Vesting Conditions as of the date of the Participant’s termination of Service. The Company shall have the
          right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company.

       

      7.8         Nontransferability of Restricted Stock Award Rights. Rights to acquire shares of Stock
          pursuant to a Restricted Stock Award shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment by creditors of the Participant or the Participant’s beneficiary, except
          transfer by will or the laws of descent and distribution. All rights with respect to a Restricted Stock Award granted to a Participant hereunder shall be exercisable during his or her lifetime only by such Participant or the Participant’s
          guardian or legal representative.

       

      
        
          

      

      
        
          	

                	8.	
                  STANDARD FORMS OF AWARD AGREEMENTS.

                

        

      

       

      8.1         Award Agreements. Each
          Award shall comply with and be subject to the terms and conditions set forth in the appropriate form of Award Agreement approved by the Board and as amended from time to time. No Award or purported Award shall be a valid and binding obligation of
          the Company unless evidenced by a fully executed Award Agreement, which execution may be evidenced by electronic means.

       

      8.2         Authority to Vary Terms. The

          Board shall have the authority from time to time to vary the terms of any standard form of Award Agreement either in connection with the grant or amendment of an individual Award or in connection with the authorization of a new standard form or
          forms; provided, however, that the terms and conditions of any such new, revised or amended standard form or forms of Award Agreement are not inconsistent with the terms of the Plan.

       

      
        	 	
                9.

              	
                CHANGE IN CONTROL.

              

      

       

      9.1         Effect of Change in Control on Awards. Subject to the requirements and limitations of Section 409A, if applicable, the Board may provide for any one or more of the following:

       

      (a)          Acceleration on Non-Assumption. In its
          discretion, the Board may provide in the grant of any Award or at any other time may take action it deems appropriate to provide for acceleration of the exercisability and/or vesting in connection with a Change in Control of each or any
          outstanding Award or portion thereof and shares acquired pursuant thereto upon such conditions, including termination of the Participant’s Service prior to, upon, or following the Change in Control, and to such extent as the Board determines.
          Further, unless otherwise provided by the applicable Award Agreement or determined by the Board and subject to Section 11.2(c), in the event that the Acquiror (as defined below) elects not to assume, continue or substitute for, in
        accordance with Section 9.1(b), any portion of an Award outstanding immediately prior to the Change in Control, the exercisability and/or vesting of such portion of the Award held by a Participant whose Service has not terminated prior to the
        Change in Control shall be accelerated in full effective as of a date prior to, but conditioned upon, the consummation of the Change in Control as determined by the Board.

       

      

      
        
          

      

      (b)          Assumption, Continuation or Substitution of Awards. In the event of a Change in Control, the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may, without the consent of any Participant, assume or continue the Company’s rights and
          obligations under each or any Award or portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such outstanding Award or portion thereof a substantially equivalent award with respect to the Acquiror’s
          stock. For purposes of this Section, if so determined by the Board, in its discretion, an Award or any portion thereof shall be deemed assumed if, following the Change in Control, the Award confers the right to receive, subject to the terms and
          conditions of the Plan and the applicable Award Agreement, for each share of Stock subject to such portion of the Award immediately prior to the Change in Control, the consideration (whether stock, cash, other securities or property or a
          combination thereof) to which a holder of a share of Stock on the effective date of the Change in Control was entitled (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
          outstanding shares of Stock); provided, however, that if such consideration is not solely common stock of the Acquiror, the Board may, with the consent of the Acquiror, provide for the consideration to be received upon the exercise of the Award,
          for each share of Stock subject to the Award, solely common stock of the Acquiror equal in Fair Market Value to the per share consideration received by holders of Stock pursuant to the Change in Control. If any portion of such consideration may
          be received by holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its discretion, determine such Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s
          good faith estimate of the present value of the probable future payment of such consideration. Any Award or portion thereof which is neither assumed or continued by the Acquiror in connection with the Change in Control nor exercised as of the
          time of consummation of the Change in Control shall terminate and cease to be outstanding effective as of the time of consummation of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of an Award prior to the
          Change in Control and any consideration received pursuant to the Change in Control with respect to such shares shall continue to be subject to all applicable provisions of the Award Agreement evidencing such Award except as otherwise provided in
          such Award Agreement.

       

      (c)          Cash-Out of Outstanding Awards. The

          Board may, in its discretion and without the consent of any Participant, determine that, upon the occurrence of a Change in Control, each or any Award or portion thereof outstanding immediately prior to the Change in Control and not previously
          exercised or settled shall be canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined by the Board) of Stock subject to such canceled Award in (i) cash, (ii) stock of the Company or of a
          corporation or other business entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair Market Value of the consideration to be paid per share of
          Stock in the Change in Control, reduced (but not below zero) by the exercise or purchase price per share, if any, under such Award. If any portion of such consideration may be received by holders of Stock pursuant to the Change in Control on a
          contingent or delayed basis, the Board may, in its sole discretion, determine such Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate of the present value of the probable amount of
          future payment of such consideration. In the event such determination is made by the Board, an Award having an exercise or purchase price per share equal to or greater than the Fair Market Value of the consideration to be paid per share of Stock
          in the Change in Control may be canceled without payment of consideration to the holder thereof. Payment pursuant to this Section (reduced by applicable withholding taxes, if any) shall be made to Participants in respect of the vested portions of
          their canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested portions of their canceled Awards in accordance with the vesting schedules applicable to such Awards.

       

        

      
        
          

      

      
        
          	

                	9.2	
                  Federal Excise Tax Under Section 4999 of the Code.

                

        

      

       

      (a)          Excess Parachute Payment.
          If any acceleration of vesting pursuant to an Award and any other payment or benefit received or to be received by a Participant would subject the Participant to any excise tax pursuant to Section 4999 of the Code due to the characterization of
          such acceleration of vesting, payment or benefit as an “excess parachute payment” under Section 280G of the Code, then, provided such election would not subject the Participant to taxation under Section 409A, the Participant may elect to reduce
          the amount of any acceleration of vesting called for under the Award in order to avoid such characterization.

       

      (b)          Determination by Tax Firm. To

          aid the Participant in making any election called for under Section 9.2(a), no later than the date of the occurrence of any event that might reasonably be anticipated to result in an “excess parachute payment” to the Participant as described in
          Section 9.2(a), the Company shall request a determination in writing by the professional firm engaged by the Company for general tax purposes, or, if the tax firm so engaged by the Company is serving as accountant or auditor for the Acquiror, the
          Company will appoint a nationally recognized tax firm to make the determinations required by this Section (the “Tax Firm”). As soon as practicable thereafter, the Tax Firm shall determine and report to the Company and the Participant the amount of such acceleration of vesting, payments and benefits which would produce the greatest after-tax
          benefit to the Participant. For the purposes of such determination, the Tax Firm may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and the Participant shall furnish to
          the Tax Firm such information and documents as the Tax Firm may reasonably request in order to make its required determination. The Company shall bear all fees and expenses the Tax Firm may charge in connection with its services contemplated by
          this Section.

       

      
        	 	
                10.

              	
                TAX WITHHOLDING.

              

      

       

      10.1       Tax Withholding in General. The Company shall have the right to deduct from any and all
          payments made under the Plan, or to require the Participant, through payroll withholding, cash payment or otherwise, to make adequate provision for, the federal, state, local and foreign taxes (including social insurance), if any, required
        by law to be withheld by any Participating Company with respect to an Award or the shares acquired pursuant thereto. The Company shall have no obligation to deliver shares of Stock or to release shares of Stock from an escrow established pursuant
        to an Award Agreement until the Participating Company Group’s tax withholding obligations have been satisfied by the Participant. 

       

      10.2       Withholding in or Directed Sale of Shares. The Company shall have the right, but not the
          obligation, to deduct from the shares of Stock issuable to a Participant upon the exercise or vesting of an Award, or to accept from the Participant the tender of, a number of whole shares of Stock having a Fair Market Value, as determined by the
          Company, equal to all or any part of the tax withholding obligations of any Participating Company. The Fair Market Value of any shares of Stock withheld or tendered to satisfy any such tax withholding obligations shall not exceed the amount
          determined by the applicable minimum statutory withholding rates. The Company may require a Participant to direct a broker, upon the vesting or exercise of an Award, to sell a portion of the shares subject to the Award determined by the Company
          in its discretion to be sufficient to cover the tax withholding obligations of any Participating Company and to remit an amount equal to such tax withholding obligations to the Participating Company in cash.

       

        

      
        
          

      

      
        	 	
                11.

              	
                COMPLIANCE WITH SECTION 409A.

              

      

       

      11.1       In General. The Plan and all Awards granted hereunder are intended to comply with, or
          otherwise be exempt from, Section 409A. The Plan and all Awards granted under the Plan shall be administered, interpreted, and construed in a manner consistent with Section 409A, as determined by the Company in good faith, to the extent necessary
          to avoid the imposition of additional taxes under Section 409A(a)(1)(B) of the Code. It is intended that any election, payment or benefit which is made or provided pursuant to or in connection with any Award that may result in deferred
          compensation within the meaning of Section 409A shall comply in all respects with the applicable requirements of Section 409A.

       

      11.2       Certain Limitations. With respect to any Award that is subject to Section 409A, the
          following shall apply, as applicable:

       

      (a)          Notwithstanding anything to the contrary in the Plan or any Award Agreement, to the extent required to avoid tax penalties under
          Section 409A, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan on account of, and during the six (6) month period immediately following, the Participant's termination of Service shall
          instead be paid on the first payroll date after the six-month anniversary of the Participant’s separation from service (or the Participant's death, if earlier).

       

      (b)          Neither any Participant nor the Company shall take any action to accelerate or delay the payment of any amount or benefits under
          an Award in any manner which would not be in compliance with Section 409A.

       

      (c)          Notwithstanding anything to the contrary in the Plan or any Award Agreement, to the extent that any amount constituting deferred
          compensation subject to Section 409A would become payable under the Plan by reason of a Change in Control, such amount shall become payable only if the event constituting the Change in Control would also constitute a change in ownership or
          effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A. Any Award which constitutes deferred compensation subject to Section 409A and which would vest
          and otherwise become payable upon a Change in Control as a result of the failure of the Acquiror to assume, continue or substitute for such Award in accordance with Section 9.1(b) shall vest to the extent provided by such Award but shall be
          converted automatically at the effective time of such Change in Control into a right to receive, in cash on the date or dates such award would have been settled in accordance with its then existing settlement schedule, an amount or amounts equal
          in the aggregate to the intrinsic value of the Award at the time of the Change in Control.

       

      
        
          

      

      (d)          Should any provision of the Plan, any Award Agreement, or any other agreement or arrangement contemplated by the Plan be found
          not to comply with, or otherwise be exempt from, the provisions of Section 409A, such provision shall be modified and given effect (retroactively if necessary), in the sole discretion of the Board, and without the consent of the holder of the
          Award, in such manner as the Board determines to be necessary or appropriate to comply with, or to effectuate an exemption from, Section 409A.

       

      (e)          Notwithstanding the foregoing, neither the Company nor the Board shall have any obligation to take any action to prevent the
          assessment of any tax or penalty on any Participant under Section 409A, and neither the Company nor the Board will have any liability to any Participant for such tax or penalty.

       

      
        	 	
                12.

              	
                COMPLIANCE WITH SECURITIES LAW.

              

      

      

      

      The grant of Awards and the issuance of shares of Stock pursuant to any Award shall be subject to compliance with all applicable requirements of federal, state and foreign law with respect to such
        securities and the requirements of any stock exchange or market system upon which the Stock may then be listed. In addition, no Award may be exercised or shares issued pursuant to an Award unless (a) a registration statement under the Securities
        Act shall at the time of such exercise or issuance be in effect with respect to the shares issuable pursuant to the Award or (b) in the opinion of legal counsel to the Company, the shares issuable pursuant to the Award may be issued in accordance
        with the terms of an applicable exemption from the registration requirements of the Securities Act. Except as otherwise determined by the Board, the Company intends that securities issued pursuant to the Plan be exempt from requirements of
        registration and qualification of such securities pursuant the exemptions afforded by Rule 701 promulgated under the Securities Act and Section 25102(o) of the of the California Corporations Code or any other applicable exemptions, and the Plan
        shall be so construed. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares hereunder shall
        relieve the Company of any liability in respect of the failure to issue or sell such shares as to which such requisite authority shall not have been obtained. As a condition to issuance of any Stock, the Company may require the Participant to
        satisfy any qualifications that may be necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the Company.

       

      

      
        	 	
                13.

              	
                AMENDMENT OR TERMINATION OF PLAN.

              

      

      

      

      The Board may amend, suspend or terminate the Plan at any time. However, without the approval of the Company’s stockholders, there shall be (a) no increase in the maximum aggregate number of shares
        of Stock that may be issued under the Plan (except by operation of the provisions of Sections 4.2 and 4.4), (b) no change in the class of persons eligible to receive Incentive Stock Options, and (c) no other amendment of the Plan that would require
        approval of the Company’s stockholders under any applicable law, regulation or rule, including the rules of any stock exchange or quotation system upon which the Stock may then be listed or quoted. No amendment, suspension or termination of the
        Plan shall affect any then outstanding Award unless expressly provided by the Board. Except as provided by the next sentence, no amendment, suspension or termination of the Plan may have a materially adverse effect on any then outstanding Award
        without the consent of the Participant. Notwithstanding any other provision of the Plan or any Award Agreement to the contrary, the Board may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any
        Award Agreement, to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming the Plan or such Award Agreement to any present or future law, regulation or rule applicable to the Plan, including, but
        not limited to, Section 409A.

        

      

      
        
          

      

      
        	 	
                14.

              	
                MISCELLANEOUS PROVISIONS.

              

      

       

      14.1       Restrictions on Transfer of Shares.

       

      (a)          Shares issued under the Plan may be subject to a right of first refusal, one or more repurchase options, or other conditions
          and restrictions as determined by the Board in its discretion at the time the Award is granted. The Company shall have the right to assign at any time any repurchase right it may have, whether or not such right is then exercisable, to one or more
          persons as may be selected by the Company. Upon request by the Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to the receipt of shares of Stock hereunder and shall promptly present to the Company
          any and all certificates representing shares of Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions.

       

      (b)          Notwithstanding the provisions of any Award Agreement to the contrary, at any time prior to the date on which the Stock is
          listed on a national securities exchange (as such term is used in the Exchange Act) or is traded on the over-the-counter market and prices therefore are published daily on business days in a recognized financial journal, the Board may prohibit
          any Participant who acquires shares of Stock pursuant to the Plan or any transferee of such Participant from selling, transferring, assigning, pledging, or otherwise disposing of or encumbering any such shares (each, a “Transfer”) without the prior written consent of the Board. The Board may withhold consent to any Transfer for any reason,
          including without limitation any Transfer (i) to any individual or entity identified by the Company as a potential competitor or considered by the Company to be unfriendly, or (ii) if such Transfer increases the risk of the Company having a class
          of security held of record by such number of persons as would require the Company to register any class of securities under the Exchange Act; or (iii) if such Transfer would result in the loss of any federal or state securities law exemption
          relied upon by the Company in connection with the initial issuance of such shares or the issuance of any other securities; or (iv) if such Transfer is facilitated in any manner by any public posting, message board, trading portal, Internet site,
          or similar method of communication, including without limitation any trading portal or Internet site intended to facilitate secondary transfers of securities; or (v) if such Transfer is to be effected in a brokered transaction; or (vi) if such
          Transfer would be of less than all of the shares of Stock then held by the stockholder and its affiliates or is to be made to more than a single transferee.

       

      14.2       Forfeiture Events. The Board may determine that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to
        reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of
        Service for Cause, any act by a Participant, whether before or after termination of Service, that would constitute Cause for termination of Service, or any accounting restatement due to material noncompliance of the Company with any financial
        reporting requirements of securities laws as a result of which, and to the extent that, such reduction, cancellation, forfeiture, or recoupment is required by applicable securities laws.

       

      
        
          

      

      14.3       Provision of Information. At least annually, copies of the Company’s balance sheet and income statement for the just completed fiscal year shall
        be made available to each Participant and purchaser of shares of Stock upon the exercise of an Award; provided, however, that this requirement shall not apply if all offers and sales of securities pursuant to the Plan comply with all applicable
        conditions of Rule 701 under the Securities Act. The Company shall not be required to provide such information to key persons whose duties in connection with the Company assure them access to equivalent information. The Company shall deliver to
        each Participant such disclosures as are required in accordance with Rule 701 under the Securities Act. Notwithstanding the foregoing, at any time the Company is relying on the exemption provided by Rule 12h-1(f) under the Exchange Act, the Company
        shall provide to the applicable Participants the information described in Securities Act Rules 701(e)(3), (4) and (5) by a method allowed under Rule 12h-1(f)(1)(vi) and in accordance with the requirements of Rule 12h-1(f)(1)(vi), provided that the
        Participant agrees to keep the information confidential until the Company becomes subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act.

       

      14.4       Rights as Employee, Consultant or Director. No person, even though eligible pursuant to Section 5, shall have a right to be selected as a
        Participant, or, having been so selected, to be selected again as a Participant. Nothing in the Plan or any Award granted under the Plan shall confer on any Participant a right to remain an Employee, Consultant or Director or interfere with or
        limit in any way any right of a Participating Company to terminate the Participant’s Service at any time. To the extent that an Employee of a Participating Company other than the Company receives an Award under the Plan, that Award shall in no
        event be understood or interpreted to mean that the Company is the Employee’s employer or that the Employee has an employment relationship with the Company.

       

      14.5       Rights as a Stockholder. A Participant shall have no rights as a stockholder with respect to any shares covered by an Award until the date of
        the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record
        date is prior to the date such shares are issued, except as provided in Section 4.4 or another provision of the Plan.

       

      14.6       Delivery of Title to Shares. Subject to any governing rules or regulations, the Company shall issue or cause to be issued the shares of Stock
        acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant by means of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited to the account of
        the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker with which the Participant has an account relationship, or (c) by delivering such shares of Stock to the Participant in certificate form.

       

      14.7       Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise or settlement of any Award.

       

      
        
          

      

      14.8       Retirement and Welfare Plans. Neither Awards made under this Plan nor shares of Stock or
          cash paid pursuant to such Awards may be included as “compensation” for purposes of computing the benefits payable to any Participant under any Participating Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans
          unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefits.

       

      14.9       Severability. If any one or more of the provisions (or any part thereof) of this Plan
          shall be held invalid, illegal or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions (or any part thereof) of the
          Plan shall not in any way be affected or impaired thereby.

       

      14.10     No Constraint on Corporate Action. Nothing in this Plan shall be construed to: (a) limit,
          impair, or otherwise affect the Company’s or another Participating Company’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve,
          liquidate, sell, or transfer all or any part of its business or assets; or (b) limit the right or power of the Company or another Participating Company to take any action which such entity deems to be necessary or appropriate.

       

      14.11     Choice of Law. Except to the extent governed by applicable federal law, the
        validity, interpretation, construction and performance of the Plan and each Award Agreement shall be governed by the laws of the State of Delaware, without regard to its conflict of law rules. 

       

      14.12     Stockholder Approval. The Plan or any increase in the maximum aggregate number of shares
          of Stock issuable thereunder as provided in Section 4.1 (the “Authorized Shares”) shall be approved by a majority of the outstanding securities
          of the Company entitled to vote by the later of (a) a period beginning twelve (12) months before and ending twelve (12) months after the date of adoption thereof by the Board or (b) the first issuance of any security pursuant to the Plan in the
          State of California (within the meaning of Section 25008 of the California Corporations Code). Awards granted prior to security holder approval of the Plan or in excess of the Authorized Shares previously approved by the security holders shall
          become exercisable no earlier than the date of security holder approval of the Plan or such increase in the Authorized Shares, as the case may be, and such Awards shall be rescinded if such security holder approval is not received in the manner
          described in the preceding sentence.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]