Document:

Exhibit 10.31

   

  

  Kineta, Inc.

   

  2010 Equity Incentive Plan

   

  Adopted by the Board of Directors: September 3, 2010

    Approved by the Shareholders: September 7, 2010

    Termination Date: September 2, 2020

   

  		1.	GENERAL.

   

  (a)          

  Eligible Stock Award Recipients.
    The persons eligible to receive Stock Awards are Employees, Directors and Consultants.

   

  (b)          

  Available Stock Awards. The
    Plan provides for the grant of the following Stock Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards, and (v) Restricted Stock Unit Awards.

   

  (c)          

  Purpose. The Company, by means of the Plan, seeks to secure and retain the services of the group of persons eligible to receive Stock Awards as set forth in Section 1(a), to provide incentives for such persons
    to exert maximum efforts for the success of the Company and any Affiliate, and to provide a means by which such eligible recipients may be given an opportunity to benefit from increases in value of the Non-Voting Common Stock through the granting of
    Stock Awards.

   

  		2.	ADMINISTRATION.

   

  (a)         

  Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration of the Plan to a Committee or Committees, as provided in Section 2(c).

   

  (b)          

  Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan:

   

  (i)            

  To determine from time to time
    (A) which of the persons eligible under the Plan shall be granted Stock Awards; (B) when and how each Stock Award shall be granted; (C) what type or combination of types of Stock Award shall be granted; (D) the provisions of each Stock Award granted
    (which need not be identical), including the time or times when a person shall be permitted to receive cash or Non-Voting Common Stock pursuant to a Stock Award; (E) the number of shares of Non-Voting Common Stock with respect to which a Stock Award
    shall be granted to each such person; and (F) the Fair Market Value applicable to a Stock Award.

   

  (ii)           

  To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules and regulations for administration of the Plan. The Board, in the exercise of this power, may
    correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan or Stock Award fully effective.

   

  

  
    

    
      
 

  

  
   

  (iii)           

  To settle all controversies regarding the Plan and Stock Awards granted under it.

   

  (iv)            

  To accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the
    Stock Award stating the time at which it may first be exercised or the time during which it will vest.

   

  (v)             

  To suspend or terminate the Plan
    at any time. Suspension or termination of the Plan shall not impair rights and obligations under any Stock Award granted while the Plan is in effect except with the written consent of the affected Participant.

   

  (vi)            

  To amend the Plan in any respect the Board deems necessary or advisable, including, without limitation, amendments relating to Incentive Stock Options and certain nonqualified deferred compensation under
    Section 409A of the Code and/or to bring the Plan or Stock Awards granted under the Plan into compliance therewith, subject to the limitations, if any, of applicable law. However, except as provided in Section 9(a) relating to Capitalization
    Adjustments, to the extent required by applicable law, shareholder approval shall be required for any amendment of the Plan that either (A) materially increases the number of shares of Non-Voting Common Stock available for issuance under the Plan,
    (B) materially expands the class of individuals eligible to receive Stock Awards under the Plan, (C) materially increases the benefits accruing to Participants under the Plan or materially reduces the price at which shares of Non-Voting Common Stock
    may be issued or purchased under the Plan, (D) materially extends the term of the Plan, or (E) expands the types of Stock Awards available for issuance under the Plan. Except as provided above, rights under any Stock Award granted before amendment of
    the Plan shall not be impaired by any amendment of the Plan unless (1) the Company requests the consent of the affected Participant, and (2) such Participant consents in writing.

   

  (vii)          

  To submit any amendment to the Plan for shareholder approval, including, but not limited to, amendments to the Plan intended to satisfy the requirements of Section 422 of the Code regarding Incentive Stock
    Options.

   

  (viii)         

  To approve forms of Stock Award Agreements for use under the Plan and to amend the terms of any one or more Stock Awards, including, but not limited to, amendments to provide terms more favorable to the
    Participant than previously provided in the Stock Award Agreement, subject to any specified limits in the Plan that are not subject to Board discretion; provided however, that, the rights under any Stock Award shall not be impaired by any such
    amendment unless (i) the Company requests the consent of the affected Participant, and (ii) such Participant consents in writing. Notwithstanding the foregoing, subject to the limitations of applicable law, if any, and without the affected
    Participant’s consent, the Board may amend the terms of any one or more Stock Awards if necessary to maintain the qualified status of the Stock Award as an Incentive Stock Option or to bring the Stock Award into compliance with Section 409A of the
    Code.

   

  (ix)           

  Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the Company and that are not in conflict with the provisions of the
    Plan or Stock Awards.

   

  

  
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  (x)            

  To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees, Directors or Consultants who are foreign nationals or employed outside the United
    States.

   

  (xi)           

  To effect, at any time and from time to time, with the consent of any adversely affected Participant, (A) the reduction of the exercise price (or strike price) of any outstanding Option or SAR under the
    Plan, (B) the cancellation of any outstanding Option or SAR under the Plan and the grant in substitution therefore of (1) a new Option or SAR under the Plan or another equity plan of the Company covering the same or a different number of shares of
    Non-Voting Common Stock, (2) a Restricted Stock Award, (3) a Restricted Stock Unit Award, (4) cash and/or (5) other valuable consideration (as determined by the Board, in its sole discretion), or (C) any other action that is treated as a repricing
    under generally accepted accounting principles; provided, however, that no such reduction or cancellation may be effected if it is determined, in the Company’s sole discretion, that such reduction or cancellation would result in any
    such outstanding Option becoming subject to the requirements of Section 409A of the Code.

   

  (c)           

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

   

  (d)           

  Delegation to an Officer. The Board may delegate to one or more Officers of the Company the authority to do one or both of the following: (i) designate Officers and Employees of the Company or any of its
    Subsidiaries to be recipients of Options and Stock Appreciation Rights (and, to the extent permitted by applicable law, other Stock Awards) and the terms thereof, and (ii) determine the number of shares of Non-Voting Common Stock to be subject to such
    Stock Awards granted to such Officers and Employees; provided, however, that the Board resolutions regarding such delegation shall specify the total number of shares of Non-Voting Common Stock that may be subject to the Stock Awards
    granted by such Officer and that such Officer may not grant a Stock Award to himself or herself. Notwithstanding the foregoing, the Board may not delegate authority to an Officer to determine the Fair Market Value pursuant to Section 13(t) below.

   

  (e)           

  Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all
    persons.

   

  (f)            

  Arbitration. Any dispute or claim concerning any Stock Awards granted (or not granted) or any disputes or claims relating to or arising out of the Plan shall be fully, finally and exclusively resolved by binding
    and confidential arbitration conducted pursuant to the rules of Judicial Arbitration and Mediation Services, Inc. (“JAMS”) in King County. The Company shall pay all arbitration fees. In addition to any other relief, the arbitrator may
    award to the prevailing party recovery of its attorneys’ fees and costs. By accepting a Stock Award, Participants and the Company waive their respective rights to have any such disputes or claims tried by a judge or jury.

   

  

  
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  		3.	SHARES SUBJECT TO THE PLAN.

   

  (a)           

  Share Reserve. Subject to the provisions of Section 9(a) relating to Capitalization Adjustments, the aggregate number of shares of Non-Voting Common Stock that may be issued pursuant to Stock Awards beginning on
    the Effective Date shall not exceed two million five hundred thousand (2,500,000) shares (the “Share Reserve”). Furthermore, if a Stock Award (i) expires or otherwise terminates without having been exercised in full or (ii) is settled in
    cash (i.e., the holder of the Stock Award receives cash rather than stock), such expiration, termination or settlement shall not reduce (or otherwise offset) the number of shares of Non-Voting Common Stock that may be issued pursuant to the
    Plan. For clarity, the limitation in this Section 3(a) is a limitation in the number of shares of Non-Voting Common Stock that may be issued pursuant to the Plan. Accordingly, this Section 3(a) does not limit the granting of Stock Awards except as
    provided in Section 7(a).

   

  (b)           

  Reversion of Shares to the Share Reserve. If any shares of Non-Voting Common Stock issued pursuant to a Stock Award are forfeited back to the Company because of the failure to meet a contingency or condition
    required to vest such shares in the Participant, then the shares which are forfeited shall revert to and again become available for issuance under the Plan. Also, any shares reacquired by the Company pursuant to Section 8(g) or as consideration for the
    exercise of an Option shall again become available for issuance under the Plan. Notwithstanding the provisions of this Section 3(b), any such shares shall not be subsequently issued pursuant to the exercise of Incentive Stock Options.

   

  (c)           

  Incentive Stock Option Limit. Notwithstanding anything to the contrary in this Section 3(c), subject to the provisions of Section 9(a) relating to Capitalization Adjustments, the aggregate maximum number of
    shares of Non-Voting Common Stock that may be issued pursuant to the exercise of Incentive Stock Options shall be three million (3,000,000) shares of Non-Voting Common Stock.

   

  (d)           

  Source of Shares. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Non-Voting Common Stock, including shares repurchased by the Company on the open market or otherwise.

   

  		4.	ELIGIBILITY.

   

  (a)           

  Eligibility for Specific Stock
      Awards. Incentive Stock Options may be granted only to employees of the Company or a “parent corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and (f) of the Code). Stock Awards other than Incentive
    Stock Options may be granted to Employees, Directors and Consultants; provided, however, Nonstatutory Stock Options and SARs may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any
    “parent” of the Company, as such term is defined in Rule 405, unless the stock underlying such Stock Awards is treated as “service recipient stock” under Section 409A of the Code because the Stock Awards are granted pursuant to a corporate transaction
    (such as a spin off transaction) or unless such Stock Awards comply with the distribution requirements of Section 409A of the Code.

   

  

  
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  (b)           

  Ten Percent Shareholders. A Ten Percent Shareholder shall not be granted an Incentive Stock Option unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value on
    the date of grant and the Option is not exercisable after the expiration of five (5) years from the date of grant.

   

  (c)           

  Consultants. A Consultant
    shall not be eligible for the grant of a Stock Award if, at the time of grant, either the offer or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 because of the nature of the services that the Consultant is
    providing to the Company, because the Consultant is not a natural person, or because of any other provision of Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption
    under the Securities Act as well as comply with the securities laws of all other relevant jurisdictions.

   

  		5.	PROVISIONS RELATING TO OPTIONS AND STOCK APPRECIATION RIGHTS.

   

  Each Option or SAR shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be
    separately designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates shall be issued for shares of Non-Voting Common Stock purchased on exercise of
    each type of Option. If an Option is not specifically designated as an Incentive Stock Option, then the Option shall be a Nonstatutory Stock Option. The provisions of separate Options or SARs need not be identical; provided, however,
    that each Option Agreement or Stock Appreciation Right Agreement shall conform to (through incorporation of provisions hereof by reference in the applicable Stock Award Agreement or otherwise) the substance of each of the following provisions:

   

  (a)           

  Term. Subject to the provisions of Section 4(b) regarding Ten Percent Shareholders, no Option or SAR shall be exercisable after the expiration of ten (10) years from the date of its grant or such shorter period
    specified in the Stock Award Agreement.

   

  (b)           

  Exercise Price. Subject to
    the provisions of Section 4(b) regarding Incentive Stock Options granted to Ten Percent Shareholders, the exercise price (or strike price) of each Option or SAR shall be not less than one hundred percent (100%) of the Fair Market Value of the
    Non-Voting Common Stock subject to the Option or SAR on the date the Option or SAR is granted. Notwithstanding the foregoing, an Option or SAR may be granted with an exercise price (or strike price) lower than one hundred percent (100%) of the Fair
    Market Value of the Non-Voting Common Stock subject to the Option or SAR if such Option or SAR is granted pursuant to an assumption of or substitution for another option or stock appreciation right pursuant to a Corporate Transaction and in a manner
    consistent with the provisions of Sections 409A and 424(a) of the Code (whether or not such Stock Awards are Incentive Stock Options). Each SAR will be denominated in shares of Non-Voting Common Stock equivalents.

   

  

  
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  (c)           

  Consideration for Options.
    The purchase price of Non-Voting Common Stock acquired pursuant to the exercise of an Option shall be paid, to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment
    set forth below. The Board shall have the authority to grant Options that do not permit all of the following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to
    utilize a particular method of payment. The permitted methods of payment are as follows:

   

  (i)            

  by cash, check, bank draft or money order payable to the Company;

   

  (ii)           

  pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of the stock subject to the Option, results in either the receipt of cash (or
    check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds;

   

  (iii)          

  by delivery to the Company (either by actual delivery or attestation) of shares of Non-Voting Common Stock;

   

  (iv)           

  if the Option is a Nonstatutory Stock Option, by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Non-Voting Common Stock issuable upon exercise by the largest
    whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price; provided, however, that the Company shall accept a cash or other payment from the Participant to the extent of any remaining balance of
    the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided, further, that shares of Non-Voting Common Stock will no longer be subject to an Option and will not be exercisable
    thereafter to the extent that (A) shares issuable upon exercise are reduced to pay the exercise price pursuant to the “net exercise,” (B) shares are delivered to the Participant as a result of such exercise, and (C) shares are withheld to satisfy tax
    withholding obligations;

   

  (v)            

  according to a deferred payment or similar arrangement with the Optionholder; provided, however, that interest shall compound at least annually and shall be charged at the minimum rate of
    interest necessary to avoid (A) the imputation of interest income to the Company and compensation income to the Optionholder under any applicable provisions of the Code, and (B) the classification of the Option as a liability for financial accounting
    purposes; or

   

  (vi)           

  in any other form of legal consideration that may be acceptable to the Board.

   

  (d)           

  Exercise and Payment of a SAR. To exercise any outstanding Stock Appreciation Right, the Participant must provide written notice of exercise to the Company in compliance with the provisions of the Stock
    Appreciation Right Agreement evidencing such Stock Appreciation Right. The appreciation distribution payable on the exercise of a Stock Appreciation Right will be not greater than an amount equal to the excess of (A) the aggregate Fair Market Value (on
    the date of the exercise of the Stock Appreciation Right) of a number of shares of Non-Voting Common Stock equal to the number of Non-Voting Common Stock equivalents in which the Participant is vested under such Stock Appreciation Right, and with
    respect to which the Participant is exercising the Stock Appreciation Right on such date, over (B) the strike price that will be determined by the Board at the time of grant of the Stock Appreciation Right. The appreciation distribution in respect to a
    Stock Appreciation Right may be paid in Non-Voting Common Stock, in cash, in any combination of the two or in any other form of consideration, as determined by the Board and contained in the Stock Appreciation Right Agreement evidencing such Stock
    Appreciation Right.

   

  

  
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  (e)           

  Transferability of Options and SARs. The Board may, in its sole discretion, impose such limitations on the transferability of Options and SARs as the Board shall determine. In the absence of such a determination
    by the Board to the contrary, the following restrictions on the transferability of Options and SARs shall apply:

   

  (i)             

  Restrictions on Transfer.
    An Option or SAR shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the Participant; provided, however, that the Board may, in its
    sole discretion, permit transfer of the Option or SAR to such extent as permitted by Rule 701 and in a manner consistent with applicable tax and securities laws upon the Participant’s request.

   

  (ii)           

  Domestic Relations Orders. Notwithstanding the foregoing, an Option or SAR may be transferred pursuant to a domestic relations order; provided, however, that if an Option is an Incentive
    Stock Option, such Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer.

   

  (iii)          

  Beneficiary Designation. Notwithstanding the foregoing, the Participant may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company and any broker
    designated by the Company to effect Option exercises, designate a third party who, in the event of the death of the Participant, shall thereafter be entitled to exercise the Option or SAR and receive the Non-Voting Common Stock or other consideration
    resulting from such exercise. In the absence of such a designation, the executor or administrator of the Participant’s estate shall be entitled to exercise the Option or SAR and receive the Non-Voting Common Stock or other consideration resulting from
    such exercise.

   

  (f)            

  Vesting Generally. The
    total number of shares of Non-Voting Common Stock subject to an Option or SAR may vest and therefore become exercisable in periodic installments that may or may not be equal. The Option or SAR may be subject to such other terms and conditions on the
    time or times when it may or may not be exercised (which may be based on the satisfaction of performance goals or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options or SARs may vary. The provisions of this
    Section 5(f) are subject to any Option or SAR provisions governing the minimum number of shares of Non-Voting Common Stock as to which an Option or SAR may be exercised.

   

  (g)           

  Termination of Continuous Service. Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant and the Company, in the event that a Participant’s Continuous
    Service terminates (other than for Cause or upon the Participant’s death or Disability), the Participant may exercise his or her Option or SAR (to the extent that the Participant was entitled to exercise such Stock Award as of the date of termination
    of Continuous Service) but only within such period of time ending on the earlier of (i) the date three (3) months following the termination of the Participant’s Continuous Service (or such longer or shorter period specified in the Stock Award
    Agreement, which period shall not be less than thirty (30) days if necessary to comply with applicable state laws unless such termination is for Cause) or (ii) the expiration of the term of the Option or SAR as set forth in the Stock Award Agreement.
    If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR within the time specified herein or in the Stock Award Agreement (as applicable), the Option or SAR shall terminate.

   

  

  
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  (h)           

  Extension of Termination Date. Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant and the Company, if the exercise of an Option or SAR following the
    termination of the Participant’s Continuous Service (other than for Cause or upon the Participant’s death or Disability) would be prohibited at any time solely because the issuance of shares of Non-Voting Common Stock would violate the registration
    requirements under the Securities Act, then the Option or SAR shall terminate on the earlier of (i) the expiration of a period of three (3) months after the termination of the Participant’s Continuous Service during which the exercise of the Option or
    SAR would not be in violation of such registration requirements, or (ii) the expiration of the term of the Option or SAR as set forth in the Stock Award Agreement. In addition, unless otherwise provided in a Participant’s Award Agreement, if the sale
    of any Non-Voting Common Stock received upon exercise of an Option or SAR following the termination of the Participant’s Continuous Service (other than for Cause) would violate the Company’s insider trading policy, then the Option or SAR shall
    terminate on the earlier of (i) the expiration of a period equal to the applicable post-termination exercise period after the termination of the Participant’s Continuous Service during which the exercise of the Option or SAR would not be in violation
    of the Company’s insider trading policy, or (ii) the expiration of the term of the Option or SAR as set forth in the applicable Stock Award Agreement.

   

  (i)            

  Disability of Participant.
    Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant and the Company, in the event that a Participant’s Continuous Service terminates as a result of the Participant’s Disability, the
    Participant may exercise his or her Option or SAR (to the extent that the Participant was entitled to exercise such Option or SAR as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (i) the
    date twelve (12) months following such termination of Continuous Service (or such longer or shorter period specified in the Stock Award Agreement, which period shall not be less than six (6) months if necessary to comply with applicable state laws), or
    (ii) the expiration of the term of the Option or SAR as set forth in the Stock Award Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR within the time specified herein or in the Stock
    Award Agreement (as applicable), the Option or SAR shall terminate.

   

  (j)            

  

  Death of Participant.
    Except as otherwise provided in the applicable Stock Award Agreement or other agreement between the Participant and the Company, in the event that (i) a Participant’s Continuous Service terminates as a result of the Participant’s death, or (ii) the
    Participant dies within the period (if any) specified in the Stock Award Agreement after the termination of the Participant’s Continuous Service for a reason other than death, then the Option or SAR may be exercised (to the extent the Participant was
    entitled to exercise such Option or SAR as of the date of death) by the Participant’s estate, by a person who acquired the right to exercise the Option or SAR by bequest or inheritance or by a person designated to exercise the Option or SAR upon the
    Participant’s death, but only within the period ending on the earlier of (i) the date eighteen (18) months following the date of death (or such longer or shorter period specified in the Stock Award Agreement, which period shall not be less than six
    (6) months if necessary to comply with applicable state laws), or (ii) the expiration of the term of such Option or SAR as set forth in the Stock Award Agreement. If, after the Participant’s death, the Option or SAR is not exercised within the time
    specified herein or in the Stock Award Agreement (as applicable), the Option or SAR shall terminate.

   

  

  
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  (k)           

  Termination for Cause. Except as explicitly provided otherwise in a Participant’s Stock Award Agreement, if a Participant’s Continuous Service is terminated for Cause, the Option or SAR shall terminate upon the
    termination date of such Participant’s Continuous Service, and the Participant shall be prohibited from exercising his or her Option or SAR from and after the time of such termination of Continuous Service.

   

  (l)            

  Non-Exempt Employees. No Option or SAR 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 for any shares of
    Non-Voting Common Stock until at least six months following the date of grant of the Option or SAR. Notwithstanding the foregoing, consistent with the provisions of the Worker Economic Opportunity Act, in the event of the Participant’s death or
    Disability, upon a Corporate Transaction or a Change in Control in which the vesting of such Options or SARs accelerates, or upon the Participant’s retirement (as such term may be defined in the Participant’s Stock Award Agreement or in another
    applicable agreement or in accordance with the Company’s then current employment policies and guidelines) any such vested Options and SARs may be exercised earlier than six months following the date of grant. The foregoing provision is intended to
    operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt from his or her regular rate of pay.

   

  (m)          

  Early Exercise of Options.
    An Option may, but need not, include a provision whereby the Optionholder may elect at any time before the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Non-Voting Common Stock subject to the
    Option prior to the full vesting of the Option. Subject to the “Repurchase Limitation” in Section 8(l), any unvested shares of Non-Voting Common Stock so purchased may be subject to a repurchase right in favor of the Company or to any other restriction
    the Board determines to be appropriate. Provided that the “Repurchase Limitation” in Section 8(l) is not violated, the Company shall not be required to exercise its repurchase right until at least six (6) months (or such longer or shorter period of
    time required to avoid classification of the Option as a liability for financial accounting purposes) have elapsed following exercise of the Option unless the Board otherwise specifically provides in the Option Agreement.

   

  (n)           

  Right of Repurchase. Subject to the “Repurchase Limitation” in Section 8(l), the Option or SAR may include a provision whereby the Company may elect to repurchase all or any part of the vested shares of
    Non-Voting Common Stock acquired by the Participant pursuant to the exercise of the Option or SAR.

   

  (o)           

  Right of First Refusal. The Option or SAR may include a provision whereby the Company may elect to exercise a right of first refusal following receipt of notice from the Participant of the intent to transfer all
    or any part of the shares of Non-Voting Common Stock received upon the exercise of the Option or SAR. Such right of first refusal shall be subject to the “Repurchase Limitation” in Section 8(l). Except as expressly provided in this Section 5(o) or in
    the Stock Award Agreement, such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company.

   

  

  
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  		6.	PROVISIONS OF RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNITS.

   

  (a)           

  Restricted Stock Awards. Each Restricted Stock Award Agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. To the extent consistent with the Company’s
    Bylaws, at the Board’s election, shares of Non-Voting Common Stock may be (x) held in book entry form subject to the Company’s instructions until any restrictions relating to the Restricted Stock Award lapse; or (y) evidenced by a certificate, which
    certificate shall be held in such form and manner as determined by the Board. The terms and conditions of Restricted Stock Award Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need
    not be identical; provided, however, that each Restricted Stock Award Agreement shall conform to (through incorporation of the provisions hereof by reference in the agreement or otherwise) the substance of each of the following
    provisions:

   

  (i)             

  Consideration. A
    Restricted Stock Award may be awarded in consideration for (A) cash or cash equivalents, (B) past or future services actually or to be rendered to the Company or an Affiliate, or (C) any other form of legal consideration that may be acceptable to the
    Board in its sole discretion and permissible under applicable law.

   

  (ii)            

  Vesting. Subject to the “Repurchase Limitation” in Section 8(l), shares of Non-Voting Common Stock awarded under the Restricted Stock Award Agreement may be subject to forfeiture to the Company in
    accordance with a vesting schedule to be determined by the Board.

   

  (iii)           

  Termination of Participant’s Continuous Service. If a Participant’s Continuous Service terminates, the Company may receive through a forfeiture condition or a repurchase right, any or all of the shares of
    Non-Voting Common Stock held by the Participant that have not vested as of the date of termination of Continuous Service under the terms of the Restricted Stock Award Agreement.

   

  (iv)            

  Transferability. Rights to acquire shares of Non-Voting Common Stock under the Restricted Stock Award Agreement shall be transferable by the Participant only upon such terms and conditions as are set forth
    in the Restricted Stock Award Agreement, as the Board shall determine in its sole discretion, so long as Non-Voting Common Stock awarded under the Restricted Stock Award Agreement remains subject to the terms of the Restricted Stock Award Agreement.

   

  (v)             

  Dividends. A Restricted Stock Award Agreement may provide that any dividends paid on Restricted Stock will be subject to the same vesting and forfeiture restrictions as apply to the shares subject to the
    Restricted Stock Award to which they relate.

   

  

  
    10

    
      
 

  

   

  (b)          

  Restricted Stock Unit Awards. Each Restricted Stock Unit Award Agreement shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions of
    Restricted Stock Unit Award Agreements may change from time to time, and the terms and conditions of separate Restricted Stock Unit Award Agreements need not be identical, provided, however, that each Restricted Stock Unit Award
    Agreement shall conform to (through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance of each of the following provisions:

   

  (i)             

  Consideration. At the time of grant of a Restricted Stock Unit Award, the Board will determine the consideration, if any, to be paid by the Participant upon delivery of each share of Non-Voting Common
    Stock subject to the Restricted Stock Unit Award. The consideration to be paid (if any) by the Participant for each share of Non-Voting Common Stock subject to a Restricted Stock Unit Award may be paid in any form of legal consideration that may be
    acceptable to the Board in its sole discretion and permissible under applicable law.

   

  (ii)           

  Vesting. At the time of the grant of a Restricted Stock Unit Award, the Board may impose such restrictions or conditions to the vesting of the Restricted Stock Unit Award as it, in its sole discretion,
    deems appropriate.

   

  (iii)          

  Payment. A Restricted Stock Unit Award may be settled by the delivery of shares of Non-Voting Common Stock, their cash equivalent, any combination thereof or in any other form of consideration, as
    determined by the Board and contained in the Restricted Stock Unit Award Agreement.

   

  (iv)           

  Additional Restrictions. At the time of the grant of a Restricted Stock Unit Award, the Board, as it deems appropriate, may impose such restrictions or conditions that delay the delivery of the shares of
    Non-Voting Common Stock (or their cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting of such Restricted Stock Unit Award.

   

  (v)            

  Dividend Equivalents. Dividend equivalents may be credited in respect of shares of Non-Voting Common Stock covered by a Restricted Stock Unit Award, as determined by the Board and contained in the
    Restricted Stock Unit Award Agreement. At the sole discretion of the Board, such dividend equivalents may be converted into additional shares of Non-Voting Common Stock covered by the Restricted Stock Unit Award in such manner as determined by the
    Board. Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents will be subject to all the terms and conditions of the underlying Restricted Stock Unit Award Agreement to which they relate.

   

  (vi)           

  Termination of Participant’s Continuous Service. Except as otherwise provided in the applicable Restricted Stock Unit Award Agreement, such portion of the Restricted Stock Unit Award that has not vested
    will be forfeited upon the Participant’s termination of Continuous Service.

   

  (vii)          

  Compliance with Section 409A of the Code. Notwithstanding anything to the contrary set forth herein, any Restricted Stock Unit Award granted under the Plan that is not exempt from the requirements of
    Section 409A of the Code shall contain such provisions so that such Restricted Stock Unit Award will comply with the requirements of Section 409A of the Code. Such restrictions, if any, shall be determined by the Board and contained in the Restricted
    Stock Unit Award Agreement evidencing such Restricted Stock Unit Award. For example, such restrictions may include, without limitation, a requirement that any Non-Voting Common Stock that is to be issued in a year following the year in which the
    Restricted Stock Unit Award vests must be issued in accordance with a fixed pre-determined schedule.

   

  

  
    11

    
      
 

  

   

  		7.	COVENANTS OF THE COMPANY.

   

  (a)           

  Availability of Shares.
    During the terms of the Stock Awards, the Company shall keep available at all times the number of shares of Non-Voting Common Stock reasonably required to satisfy such Stock Awards.

   

  (b)           

  Securities Law Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and
    sell shares of Non-Voting Common Stock upon exercise of the Stock Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Non-Voting Common
    Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary for the lawful issuance
    and sale of Non-Voting Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Non-Voting Common Stock upon exercise of such Stock Awards unless and until such authority is obtained. A Participant
    shall not be eligible for the grant of a Stock Award or the subsequent issuance of Non-Voting Common Stock pursuant to the Stock Award if such grant or issuance would be in violation of any applicable securities law.

   

  (c)           

  No Obligation to Notify. The Company shall have no duty or obligation to any Participant to advise such holder as to the time or manner of exercising such Stock Award. Furthermore, the Company shall have no duty
    or obligation to warn or otherwise advise such holder of a pending termination or expiration of a Stock Award or a possible period in which the Stock Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of
    a Stock Award to the holder of such Stock Award.

   

  		8.	MISCELLANEOUS.

   

  (a)           

  Use of Proceeds from Sales of Non-Voting Common Stock. Proceeds from the sale of shares of Non-Voting Common Stock pursuant to Stock Awards shall constitute general funds of the Company.

   

  (b)           

  Corporate Action Constituting Grant of Stock Awards. Corporate action constituting a grant by the Company of a Stock Award to any Participant shall be deemed completed as of the date of such corporate action,
    unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Stock Award is communicated to, or actually received or accepted by, the Participant.

   

  (c)           

  Shareholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Non-Voting Common Stock subject to such Stock Award unless and
    until (i) such Participant has satisfied all requirements for exercise of the Stock Award pursuant to its terms, if applicable, and (ii) the issuance of the Non-Voting Common Stock subject to such Stock Award has been entered into the books and records
    of the Company.

   

  

  
    12

    
      
 

  

   

  (d)           

  No Employment or Other Service
      Rights. Nothing in the Plan, any Stock Award Agreement or any other instrument executed thereunder or in connection with any Stock Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an
    Affiliate in the capacity in effect at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a
    Consultant pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state
    in which the Company or the Affiliate is incorporated, as the case may be.

   

  (e)           

  Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Non-Voting Common Stock or Common Stock with respect to which Incentive Stock
    Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds one hundred thousand dollars ($100,000), the Options or portions thereof that exceed such limit
    (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Option Agreement(s).

   

  (f)            

  Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Non-Voting Common Stock under any Stock Award, (i) to give written assurances satisfactory to the Company
    as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that he or
    she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that the Participant is acquiring Non-Voting
    Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the Non-Voting Common Stock. The foregoing requirements, and any assurances given pursuant to such
    requirements, shall be inoperative if (x) the issuance of the shares upon the exercise or acquisition of Non-Voting Common Stock under the Stock Award has been registered under a then currently effective registration statement under the Securities Act,
    or (y) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company may, upon advice of counsel to the Company,
    place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the Non-Voting Common Stock.

   

  (g)           

  Withholding Obligations. Unless prohibited by the terms of a Stock Award Agreement, the Company may, in its sole discretion, satisfy any federal, state or local tax withholding obligation relating to a Stock
    Award by any of the following means or by a combination of such means: (i) causing the Participant to tender a cash payment; (ii) withholding shares of Non-Voting Common Stock from the shares of Non-Voting Common Stock issued or otherwise issuable to
    the Participant in connection with the Stock Award; provided, however, that no shares of Non-Voting Common Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law (or such lesser amount as may
    be necessary to avoid classification of the Stock Award as a liability for financial accounting purposes); (iii) withholding payment from any amounts otherwise payable to the Participant; (iv) withholding cash from a Stock Award settled in cash; or
    (v) by such other method as may be set forth in the Stock Award Agreement.

   

  

  
    13

    
      
 

  

   

  (h)           

  Electronic Delivery. Any
    reference herein to a “written” agreement or document shall include any agreement or document delivered electronically or posted on the Company’s intranet.

   

  (i)            

  Deferrals. To the extent permitted by applicable law, the Board, in its sole discretion, may determine that the delivery of Non-Voting Common Stock or the payment of cash, upon the exercise, vesting or
    settlement of all or a portion of any Stock Award may be deferred and may establish programs and procedures for deferral elections to be made by Participants. Deferrals by Participants will be made in accordance with Section 409A of the Code.
    Consistent with Section 409A of the Code, the Board may provide for distributions while a Participant is still an employee or otherwise providing services to the Company. The Board is authorized to make deferrals of Stock Awards and determine when, and
    in what annual percentages, Participants may receive payments, including lump sum payments, following the Participant’s termination of Continuous Service, and implement such other terms and conditions consistent with the provisions of the Plan and in
    accordance with applicable law.

   

  (j)            

  Compliance with Section 409A. To the extent that the Board determines that any Stock Award granted hereunder is subject to Section 409A of the Code, the Stock Award Agreement evidencing such Stock Award shall
    incorporate the terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code. To the extent applicable, the Plan and Stock Award Agreements shall be interpreted in accordance with Section 409A of the Code.

   

  (k)           

  Compliance with Exemption Provided by Rule 12h-1(f). If: (i) the aggregate of the number of Optionholders and the number of holders of all other outstanding compensatory employee stock options to purchase shares
    of Non-Voting Common Stock equals or exceeds five hundred (500), and (ii) the assets of the Company at the end of the Company’s most recently completed fiscal year exceed $10 million, then the following restrictions shall apply during any period during
    which the Company does not have a class of its securities registered under Section 12 of the Exchange Act and is not required to file reports under Section 15(d) of the Exchange Act: (A) the Options and, prior to exercise, the shares of Non-Voting
    Common Stock acquired upon exercise of the Options may not be transferred until the Company is no longer relying on the exemption provided by Rule 12h-1(f) promulgated under the Exchange Act (“Rule 12h-1(f)”), except: (1) as permitted by
    Rule 701(c) promulgated under the Securities Act, (2) to a guardian upon the disability of the Optionholder, or (3) to an executor upon the death of the Optionholder (collectively, the “Permitted Transferees”); provided, however,
    the following transfers are permitted: (i) transfers by the Optionholder to the Company, and (ii) transfers in connection with a change of control or other acquisition involving the Company, if following such transaction, the Options no longer remain
    outstanding and the Company is no longer relying on the exemption provided by Rule 12h-1(f); provided further, that any Permitted Transferees may not further transfer the Options; (B) except as otherwise provided in (A) above, the Options and
    shares of Non-Voting Common Stock acquired upon exercise of the Options are restricted as to any pledge, hypothecation, or other transfer, including any short position, any “put equivalent position” as defined by Rule 16a-1(h) promulgated under the
    Exchange Act, or any “call equivalent position” as defined by Rule 16a-1(b) promulgated under the Exchange Act by the Optionholder prior to exercise of an Option until the Company is no longer relying on the exemption provided by Rule 12h-1(f); and
    (C) at any time that the Company is relying on the exemption provided by Rule 12h-1(f), the Company shall deliver to Optionholders (whether by physical or electronic delivery or written notice of the availability of the information on an internet site)
    the information required by Rule 701(e)(3), (4), and (5) promulgated under the Securities Act every six (6) months, including financial statements that are not more than one hundred eighty (180) days old; provided, however, that the
    Company may condition the delivery of such information upon the Optionholder’s agreement to maintain its confidentiality.

   

  

  
    14

    
      
 

  

   

  (l)            

  Repurchase Limitation. The
    terms of any repurchase right shall be specified in the Stock Award Agreement. The repurchase price for vested shares of Non-Voting Common Stock shall be the Fair Market Value of the shares of Non-Voting Common Stock on the date of repurchase. The
    repurchase price for unvested shares of Non-Voting Common Stock shall be the lower of (i) the Fair Market Value of the shares of Non-Voting Common Stock on the date of repurchase or (ii) their original purchase price. However, the Company shall not
    exercise its repurchase right until at least six (6) months (or such longer or shorter period of time necessary to avoid classification of the Stock Award as a liability for financial accounting purposes) have elapsed following delivery of shares of
    Non-Voting Common Stock subject to the Stock Award, unless otherwise specifically provided by the Board.

   

  (m)          

  Lock-Up. The Company shall require each Participant, as a condition of exercising or acquiring Non-Voting Common Stock under any Stock Award, to agree that in connection with the first underwritten registration
    of the offering of any securities of the Company under the Securities Act, that such Participant will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with
    the same economic effect as a sale, any shares of Non-Voting Common Stock or other securities of the Company for a period of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the
    Securities Act or such longer period as necessary to permit compliance with NASD Rule 2711 or NYSE Member Rule 472 and similar rules and regulations.

   

  		9.	ADJUSTMENTS UPON CHANGES IN NON-VOTING COMMON STOCK; OTHER CORPORATE EVENTS.

   

  (a)           

  Capitalization Adjustments. In the event of a Capitalization Adjustment, the Board shall appropriately and proportionately adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant
    to Section 3(a), (ii) the class(es) and maximum number of securities that may be issued pursuant to the exercise of Incentive Stock Options pursuant to Section 3(c), and (iii) the class(es) and number of securities and price per share of stock subject
    to outstanding Stock Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive.

   

  

  
    15

    
      
 

  

   

  (b)           

  Dissolution or Liquidation. Except as otherwise provided in the Stock Award Agreement, in the event of a dissolution or liquidation of the Company, all outstanding Stock Awards (other than Stock Awards
    consisting of vested and outstanding shares of Non-Voting Common Stock not subject to a forfeiture condition or the Company’s right of repurchase) shall terminate immediately prior to the completion of such dissolution or liquidation, and the shares of
    Non-Voting Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition may be repurchased or reacquired by the Company notwithstanding the fact that the holder of such Stock Award is providing Continuous Service, provided,
    however, that the Board may, in its sole discretion, cause some or all Stock Awards to become fully vested, exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Stock Awards have not previously expired or
    terminated) before the dissolution or liquidation is completed but contingent on its completion.

   

  (c)           

  Corporate Transaction. The following provisions shall apply to Stock Awards in the event of a Corporate Transaction unless otherwise provided in the instrument evidencing the Stock Award or any other written
    agreement between the Company or any Affiliate and the holder of the Stock Award or unless otherwise expressly provided by the Board at the time of grant of a Stock Award. Except as otherwise stated in the Stock Award Agreement, in the event of a
    Corporate Transaction, then, notwithstanding any other provision of the Plan, the Board shall take one or more of the following actions with respect to Stock Awards, contingent upon the closing or completion of the Corporate Transaction:

   

  (i)            

  arrange for the surviving
    corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) to assume or continue the Stock Award or to substitute a similar stock award for the Stock Award (including, but not limited to, an award to acquire the
    same consideration paid to the shareholders of the Company pursuant to the Corporate Transaction);

   

  (ii)           

  arrange for the assignment of
    any reacquisition or repurchase rights held by the Company in respect of Non-Voting Common Stock issued pursuant to the Stock Award to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company);

   

  (iii)          

  accelerate the vesting, in whole or in part, of the Stock Award (and, if applicable, the time at which the Stock Award may be exercised) to a date prior to the effective time of such Corporate Transaction as the
    Board shall determine (or, if the Board shall not determine such a date, to the date that is five (5) days prior to the effective date of the Corporate Transaction), with such Stock Award terminating if not exercised (if applicable) at or prior to the
    effective time of the Corporate Transaction;

   

  (iv)           

  arrange for the lapse of any reacquisition or repurchase rights held by the Company with respect to the Stock Award;

   

  

  
    16

    
      
 

  

   

  (v)            

  cancel or arrange for the cancellation of the Stock Award, to the extent not vested or not exercised prior to the effective time of the Corporate Transaction, for no consideration (subject to Section (8(l)
    above with respect to outstanding shares of Non-Voting Common Stock, if applicable) or in exchange for such cash consideration, if any, as the Board, in its sole discretion, may consider appropriate; and

   

  (vi)           

  make a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the value of the property the holder of the Stock Award would have received upon the exercise of the Stock
    Award, over (B) any exercise price payable by such holder in connection with such exercise.

   

  The Board need not take the same action with respect to all Stock Awards or with respect to all Participants.

   

  (d)           

  Change in Control. A Stock
    Award may be subject to additional acceleration of vesting and exercisability upon or after a Change in Control as may be provided in the Stock Award Agreement for such Stock Award or as may be provided in any other written agreement between the
    Company or any Affiliate and the Participant, but in the absence of such provision, no such acceleration shall occur.

   

  		10.	TERMINATION OR SUSPENSION OF THE PLAN.

   

  (a)           

  Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated by the Board pursuant to Section 2, the Plan shall automatically terminate on the day before the tenth
    (10th) anniversary of the earlier of (i) the date the Plan is adopted by the Board, or (ii) the date the Plan is approved by the shareholders of the Company. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is
    terminated.

   

  (b)           

  No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and obligations under any Stock Award granted while the Plan is in effect except with the written consent of the affected
    Participant.

   

  		11.	EFFECTIVE DATE OF PLAN.

   

  This Plan shall become effective on the Effective Date.

   

  		12.	CHOICE OF LAW.

   

  The law of the State of Washington shall govern all questions concerning the construction, validity and interpretation of this Plan, without
    regard to that state’s conflict of laws rules.

   

  		13.	DEFINITIONS. As used in the Plan, the following definitions shall apply to the capitalized terms indicated below:

   

  (a)           

  “Affiliate” means,
    at the time of determination, any “parent” or “majority-owned subsidiary” of the Company, as such terms are defined in Rule 405 of the Securities Act. The Board shall have the authority to determine the time or times at which “parent” or
    “majority-owned subsidiary” status is determined within the foregoing definition.

   

  

  
    17

    
      
 

  

   

  (b)           

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

   

  (c)           

  “Capitalization Adjustment” means any change that is made in, or other events that occur with respect to, the Non-Voting Common Stock subject to the Plan or subject to any Stock Award after the
    Effective Date without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split,
    liquidating dividend, combination of shares, exchange of shares, change in corporate structure, or any similar equity restructuring transaction, as that term is used in Statement of Financial Accounting Standards No. 123 (revised). Notwithstanding the
    foregoing, the conversion of any convertible securities of the Company shall not be treated as a Capitalization Adjustment.

   

  (d)           

  “Cause” shall have the meaning ascribed to such term in any written agreement between the Participant and the Company defining such term and, in the absence of such agreement, such term means with
    respect to a Participant, the occurrence of any of the following events: (i) such Participant’s commission of any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (ii) such
    Participant’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company; (iii) such Participant’s intentional, material violation of any contract or agreement between the Participant and the Company or of any
    statutory duty owed to the Company; (iv) such Participant’s unauthorized use or disclosure of the Company’s confidential information or trade secrets; or (v) such Participant’s gross misconduct. The determination that a termination of the Participant’s
    Continuous Service is either for Cause or without Cause shall be made by the Company in its sole discretion. Any determination by the Company that the Continuous Service of a Participant was terminated with or without Cause for the purposes of
    outstanding Stock Awards held by such Participant shall have no effect upon any determination of the rights or obligations of the Company or such Participant for any other purpose.

   

  (e)           

  “Change in Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events:

   

  (i)             

  any Exchange Act Person becomes
    the Owner, directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction.
    Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities of the Company directly from the Company, (B) on account of the acquisition of securities of the Company by an investor, any
    affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities
    or (C) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of
    voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such
    share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject
    Person over the designated percentage threshold, then a Change in Control shall be deemed to occur;

   

  

  
    18

    
      
 

  

   

  (ii)            

  there is consummated a merger,
    consolidation or similar transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar transaction, the shareholders of the Company immediately prior thereto do not Own,
    directly or indirectly, either (A) outstanding voting securities representing more than fifty percent (50%) of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than fifty
    percent (50%) of the combined outstanding voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting
    securities of the Company immediately prior to such transaction;

   

  (iii)          

  the shareholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete dissolution or liquidation of the Company shall otherwise occur,
    except for a liquidation into a parent corporation;

   

  (iv)           

  there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or
    other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the combined voting power of the voting securities of which are Owned by shareholders of the
    Company in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such sale, lease, license or other disposition; or

   

  (v)            

  individuals who, on the date this Plan is adopted by the Board, are members of the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the
    Board; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new
    member shall, for purposes of this Plan, be considered as a member of the Incumbent Board.

   

  Notwithstanding the foregoing definition or any other provision of this Plan, (A) the term Change in Control shall not include a sale of assets, merger or other
    transaction effected exclusively for the purpose of changing the domicile of the Company, and (B) the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the Participant
    shall supersede the foregoing definition with respect to Stock Awards subject to such agreement; provided, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written agreement,
    the foregoing definition shall apply.

   

  (f)            

  “Code” means the Internal Revenue Code of 1986, as amended, as well as any applicable regulations and guidance thereunder.

   

  (g)           

  “Committee” means a committee of one (1) or more Directors to whom authority has been delegated by the Board in accordance with Section 2(c).

   

  

  
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  (h)          

  “Non-Voting Common Stock” means the non-voting common stock of the Company.

   

  (i)           

  “Company” means Kineta, Inc., a Washington corporation.

   

  (j)           

  “Consultant” means any person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory services and is compensated for such services, or
    (ii) serving as a member of the board of directors of an Affiliate and is compensated for such services. However, service solely as a Director, or payment of a fee for such service, shall not cause a Director to be considered a “Consultant” for
    purposes of the Plan.

   

  (k)          

  “Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the
    capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Director, or Consultant or a change in the Entity for which the Participant renders such service, provided that there is no interruption or termination of
    the Participant’s service with the Company or an Affiliate, shall not terminate a Participant’s Continuous Service; provided, however, if the Entity for which a Participant is rendering service ceases to qualify as an Affiliate, as
    determined by the Board in its sole discretion, such Participant’s Continuous Service shall be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. For example, a change in status from an employee of the Company to a
    consultant of an Affiliate or to a Director shall not constitute an interruption of Continuous Service. To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether
    Continuous Service shall be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or (ii) transfers between the Company, an
    Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence shall be treated as Continuous Service for purposes of vesting in a Stock Award only to such extent as may be provided in the Company’s leave of absence policy, in the
    written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law.

   

  (l)           

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

   

  (i)             

  the consummation of a sale or
    other disposition of all or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of the Company and its Subsidiaries;

   

  (ii)            

  the consummation of a sale or other disposition of at least ninety percent (90%) of the outstanding securities of the Company;

   

  (iii)          

  the consummation of a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or

   

  (iv)           

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

   

  

  
    20

    
      
 

  

   

  (m)          

  “Director” means a member of the Board.

   

  (n)           

  “Disability” means the inability of a Participant to engage in any substantially gainful activity by reason of any medically determinable physical or mental impairment which can be expected to
    result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months as provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code and shall be determined by the Board on the basis of such
    medical evidence as the Board deems warranted under the circumstances.

   

  (o)           

  “Effective Date”
    means the effective date of this Plan, which is the earlier of (i) the date that this Plan is first approved by the Company’s shareholders, or (ii) the date this Plan is adopted by the Board.

   

  (p)           

  “Employee” means any person employed by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such services, shall not cause a Director to be considered an
    “Employee” for purposes of the Plan.

   

  (q)           

  “Entity” means a corporation, partnership, limited liability company or other entity.

   

  (r)           

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

   

  (s)           

  “Exchange Act Person” means any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” shall not include (i) the
    Company or any Subsidiary of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the
    Company, (iii) an underwriter temporarily holding securities pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their
    Ownership of stock of the Company; or (v) any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company
    representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities.

   

  (t)            

  “Fair Market Value” means, as of any date, the value of the Non-Voting Common Stock determined by the Board in compliance with Section 409A of the Code or, in the case of an Incentive Stock Option,
    in compliance with Section 422 of the Code.

   

  (u)           

  “Incentive Stock Option” means an option that qualifies as an “incentive stock option” within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

   

  (v)            

      

  “Nonstatutory Stock Option” means an Option that does not qualify as an Incentive Stock Option.

   

  

  
    21

    
      
 

  

   

  (w)           

  “Officer” means any person designated by the Company as an officer.

   

  (x)           

  “Option” means an Incentive Stock Option or a Nonstatutory Stock Option to purchase shares of Non-Voting Common Stock granted pursuant to the Plan.

   

  (y)           

  “Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and conditions of an Option grant. Each Option Agreement shall be subject to the terms and
    conditions of the Plan.

   

  (z)           

  “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option.

   

  (aa)         

  “Own,” “Owned,” “Owner,” “Ownership” A person or Entity shall be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired “Ownership” of
    securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting, with respect to such
    securities.

   

  (bb)         

  “Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Stock Award.

   

  (cc)         

  “Plan” means this Kineta, Inc. 2010 Equity Incentive Plan.

   

  (dd)         

  “Restricted Stock Award” means an award of shares of Non-Voting Common Stock which is granted pursuant to the terms and conditions of Section 6(a).

   

  (ee)         

  “Restricted Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award. Each
    Restricted Stock Award Agreement shall be subject to the terms and conditions of the Plan.

   

  (ff)          

  “Restricted Stock Unit Award” means a right to receive shares of Non-Voting Common Stock which is granted pursuant to the terms and conditions of Section 6(b).

   

  (gg)        

  “Restricted Stock Unit Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit
    Award grant. Each Restricted Stock Unit Award Agreement shall be subject to the terms and conditions of the Plan.

   

  (hh)        

  “Rule 405” means Rule 405 promulgated under the Securities Act.

   

  (ii)          

  “Rule 701” means
    Rule 701 promulgated under the Securities Act.

   

  (jj)          

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

   

  (kk)        

  “Stock Appreciation Right”
    or “SAR” means a right to receive the appreciation on Non-Voting Common Stock that is granted pursuant to the terms and conditions of Section 5.

   

  

  
    22

    
      
 

  

   

  (ll)          

  “Stock Appreciation Right Agreement” means a written agreement between the Company and a holder of a Stock Appreciation Right evidencing the terms and conditions of a Stock Appreciation Right
    grant. Each Stock Appreciation Right Agreement shall be subject to the terms and conditions of the Plan.

   

  (mm)       

  “Stock Award” means any right to receive Non-Voting Common Stock granted under the Plan, including an Incentive Stock Option, a Nonstatutory Stock Option, a Restricted Stock Award, a Restricted
    Stock Unit Award, or a Stock Appreciation Right.

   

  (nn)         

  “Stock Award Agreement” means a written agreement between the Company and a Participant evidencing the terms and conditions of a Stock Award grant. Each Stock Award Agreement shall be subject to
    the terms and conditions of the Plan.

   

  (oo)         

  “Subsidiary” means,
    with respect to the Company, (i) any corporation of which more than fifty percent (50%) of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the
    time, stock of any other class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability
    company or other entity in which the Company has a direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than fifty percent (50%).

   

  (pp)         

  “Ten Percent Shareholder” means a person who Owns (or is deemed to Own pursuant to Section 424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all
    classes of stock of the Company or any Affiliate.

   

  
    23

    
      
 

  

   

  Kineta, Inc.

        Stock Option Grant Notice

          (2010 Equity Incentive Plan)

   

  Kineta, Inc. (the “Company”), pursuant to its 2010 Equity Incentive Plan (the “Plan”), hereby grants to Optionholder an option to purchase
    the number of shares of the Company’s Non-Voting Common Stock set forth below. This option is subject to all of the terms and conditions as set forth herein and in the Option Agreement, the Plan, and the Notice of Exercise, all of which are attached
    hereto and incorporated herein in their entirety.

   

  	Optionholder:	
          «Optionee» 

        
	Address of Optionholder:	
          «OptioneeAddress1» 

        
	Date of Grant:	
          «GrantDate» 

        
	Vesting Commencement Date:	
          «VestingCommenceDate» 

        
	Type of Grant:	
          «TypeOfShare» 

        
	Number of Shares Subject to Option:	
          «NoOfShares» 

        
	Exercise Price (Per Share):	
          «ExercisePrice» 

        
	Total Exercise Price:	
          «TotalPrice» 

        
	Expiration Date:	
          «ExpirDate» 

        

   

  	 	Exercise Schedule:	☐ Same as Vesting Schedule              ☐ Early Exercise Permitted
	 	 	 
	 	Vesting Schedule:	«VestingSchedule»
	 	 	 
		Payment:	By one or a combination of the following items (described in the Option Agreement):

   

   ☐    By cash or check 

   ☐    Pursuant to a Regulation T Program if the Shares are publicly traded 

   ☐    By delivery of already-owned shares if the Shares are publicly traded 

   ☐    By deferred payment 

   ☐    By net exercise

   

  Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands and agrees to, this Stock Option Grant Notice, the
    Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding the
    acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) options previously granted and delivered to Optionholder under the Plan, and (ii) the following agreements only:

   

  		Other Agreements:	 
	 	 	 

   

   

  

  	Kineta, Inc.	 	Optionholder:
	 	 	 	 
	By: 	 	 	 
	 	Signature	 	Signature

   

  	Title: 	 	 	Date: 	 
	 	 	 	 	 
	Date:	 	 	 	 

   

  Attachments:
    Option Agreement, 2010 Equity Incentive Plan and Notice of Exercise

   

  
    24

    
      
 

  

   

  Attachment I

   
   

   
  Option Agreement

   

  
    25

    
      
 

  

   

  Attachment II

   
   

   
  2010 Equity Incentive Plan

   
   

  
    26

    
      
 

  

   

  Attachment III

   
   

   
  Notice of Exercise

   

  
    27

    
      
 

  

   

  Kineta, Inc.

    2010 Equity Incentive Plan

   

  Option Agreement

    (Incentive Stock Option or Nonstatutory Stock Option)

   

  Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, Kineta, Inc. (the “Company”)
    has granted you an option under its 2010 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Non-Voting Non-Voting Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant
    Notice. Defined terms not explicitly defined in this Option Agreement but defined in the Plan shall have the same definitions as in the Plan.

   

  The details of your option are as follows:

   

  1.             

  VESTING. Subject to the limitations contained herein, your option will vest as provided in your Grant Notice, provided that vesting will cease upon the termination of your Continuous Service.

   

  2.             

  Number of Shares and Exercise Price. The number of shares of Non- Voting Non-Voting Common Stock subject to your option and your exercise price per share referenced
    in your Grant Notice may be adjusted from time to time for Capitalization Adjustments.

   

  3.             

  Exercise Restriction for Non-Exempt Employees. In the event that you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938,
    as amended (i.e., a “Non-Exempt Employee”), you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant specified in your Grant Notice, notwithstanding any
    other provision of your option.

   

  4.             

  Exercise prior to Vesting (“Early Exercise”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates “Early Exercise Permitted”) and
    subject to the provisions of your option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the unvested portion of your
    option; provided, however, that:

   

  (a)            

  a partial exercise of your
    option shall be deemed to cover first vested shares of Non-Voting Non-Voting Common Stock and then the earliest vesting installment of unvested shares of Non-Voting Non-Voting Common Stock;

   

  (b)            

  any shares of Non-Voting Non-Voting Common Stock so purchased from installments that have not vested as of the date of exercise shall be subject to the purchase option in favor of the Company as described
    in the Company’s form of Early Exercise Stock Purchase Agreement;

   

  (c)             

  you shall enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will result in the same vesting as if no early exercise had occurred; and

   

  

  
    28

    
      
 

  

  
   

  (d)            

  if your option is an Incentive
    Stock Option, then, to the extent that the aggregate Fair Market Value (determined at the time of grant) of the shares of Non-Voting Non- Voting Common Stock with respect to which your option plus all other Incentive Stock Options you hold are
    exercisable for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s) or portions thereof that exceed such limit (according to the order in
    which they were granted) shall be treated as Nonstatutory Stock Options.

   

  5.            

  METHOD OF PAYMENT. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect to make payment of the exercise price
    in cash or by check or in any other manner permitted by your Grant Notice, which may include one or more of the following:

   

  (a)            

  Provided that at the time of exercise the Non-Voting Non-Voting Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant to a program developed under Regulation T
    as promulgated by the Federal Reserve Board that, prior to the issuance of Non-Voting Non-Voting Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise
    price to the Company from the sales proceeds.

   

  (b)            

  Provided that at the time of exercise the Non-Voting Non-Voting Common Stock is publicly traded and quoted regularly in The Wall Street Journal, by delivery to the Company (either by actual
    delivery or attestation) of already-owned shares of Non-Voting Non-Voting Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise.
    Notwithstanding the foregoing, you may not exercise your option by tender to the Company of Non-Voting Non-Voting Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption of the
    Company’s stock.

   

  6.            

  WHOLE SHARES. You may exercise your option only for whole shares of Non- Voting Non-Voting Common Stock.

   

  7.            

  Securities Law Compliance. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless the shares of Non-Voting Non-Voting
    Common Stock issuable upon such exercise are then registered under the Securities Act or, if such shares of Non-Voting Non-Voting Common Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from
    the registration requirements of the Securities Act. The exercise of your option also must comply with other applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would
    not be in material compliance with such laws and regulations.

   

  8.            

  TERM. You may not exercise your option before the commencement or after the expiration of its term. The term of your option commences on the Date of Grant and
    expires upon the earliest of the following:

   

  (a)            

  three (3) months after the
    termination of your Continuous Service for any reason other than your Disability or death, provided that if during any part of such three (3) month period your option is not exercisable solely because of the condition set forth in the section above
    relating to “Securities Law Compliance,” your option shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service;

   

  

  
    29

    
      
 

  

   

  (b)            

  twelve (12) months after the termination of your Continuous Service due to your Disability;

   

  (c)             

  eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates;

   

  (d)            

  the Expiration Date indicated in your Grant Notice; or

   

  (e)             

  the day before the tenth (10th)
    anniversary of the Date of Grant.

   

  If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the
    Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or
    Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide
    services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates.

   

  9.            

  Exercise.

   

  (a)            

  You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during its term by delivering a Notice of Exercise (in a form designated by the
    Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require.

   

  (b)            

  By exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax
    withholding obligation of the Company arising by reason of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Non-Voting Common Stock are subject at the time of exercise, or (3) the disposition
    of shares of Non-Voting Common Stock acquired upon such exercise.

   

  (c)             

  If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the shares
    of the Non-Voting Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Non-Voting Common Stock are transferred upon exercise of your option.

   

  

  
    30

    
      
 

  

   

  (d)            

  By exercising your option you agree that you shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the
    same economic effect as a sale, any shares of Non-Voting Common Stock or other securities of the Company held by you, for a period of one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the
    Securities Act or such longer period as necessary to permit compliance with NASD Rule 2711 or NYSE Member Rule 472 and similar rules and regulations (the “Lock-Up Period”); provided, however, that nothing contained in this
    section shall prevent the exercise of a repurchase option, if any, in favor of the Company during the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s)
    that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Non-Voting Common Stock until the
    end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 9(d) and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto.

   

  10.          

  TRANSFERABILITY. Your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you.
    Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to exercise your option. In addition, if
    permitted by the Company you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust, provided that you and the
    trustee enter into a transfer and other agreements required by the Company.

   

  11.          

  Right of First Refusal. Before any shares held by you or any transferee of yours (either being sometimes referred to herein as the “Holder”) may be
    sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the shares on the terms and conditions set forth in this Section 11 (the “Right of
        First Refusal”).

   

  (a)            

  Notice of Proposed Transfer. The Holder of the shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise
    transfer such shares; (ii) the name of each proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of shares to be transferred to each Proposed Transferee; and (iv) the terms and conditions of each proposed sale
    or transfer. The Holder shall offer the shares at the same price (the “Offered Price”) and upon the same terms (or terms as similar as reasonably possible) to the Company or its assignee(s).

   

  (b)            

  Exercise of Right of First Refusal. At any time within forty-five (45) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to
    purchase all, but not less than all, of the shares proposed to be transferred to any one or more of the Proposed Transferees that are not purchased by the holders of the Company’s Preferred Stock pursuant to that certain Shareholders’ Agreement dated
    April ___, 2010, as may be amended from time to time (the “Shareholders’ Agreement”), at the purchase price determined in accordance with subsection (iii) below. The Company’s Right of First Refusal shall be subject and subordinate to the
    right of first refusal granted to the holders of the Company’s Preferred Stock under that the Shareholders’ Agreement.

   

  

  
    31

    
      
 

  

   

  (c)             

  Purchase Price. The purchase price (“Purchase Price”) for the shares purchased by the Company or its assignee(s) under this Section 11 shall be the Offered Price. If the Offered Price
    includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board of Directors of the Company in good faith.

   

  (d)            

  

  Payment. Payment
    of the Purchase Price shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness, or by any combination thereof within 30 days after receipt of the Notice or
    in the manner and at the times set forth in the Notice.

   

  (e)             

  Holder’s Right to Transfer. If all of the shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this
    Section 11), then the Holder may sell or otherwise transfer such shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within 60 days after the date of the Notice and
    provided further that any such sale or other transfer is effected in accordance with any applicable securities laws and the Proposed Transferee agrees in writing that the provisions of this Section 11 shall continue to apply to the shares in the hands
    of such Proposed Transferee. If the shares described in the Notice are not transferred to the Proposed Transferee within such period, or if the Holder proposes to change the price or other terms to make them more favorable to the Proposed Transferee, a
    new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any shares held by the Holder may be sold or otherwise transferred.

   

  (f)             

  Exception for Certain Family Transfers. Anything to the contrary contained in this Section 11 notwithstanding, the transfer of any or all of the shares during Purchaser’s lifetime or on Purchaser’s
    death by will or intestacy to Purchaser’s Immediate Family or a trust for the benefit of Purchaser’s Immediate Family shall be exempt from the provisions of this Section 11. “Immediate Family” as used herein shall mean spouse, lineal
    descendant or antecedent, father, mother, brother or sister. In such case, the transferee or other recipient shall receive and hold the shares so transferred subject to the provisions of this Section, and there shall be no further transfer of such
    shares except in accordance with the terms of this Section 11.

   

  12.          

  Right of Repurchase. To the extent provided in the Company’s bylaws in effect at such time the Company elects to exercise its right, the Company shall have the
    right to repurchase all or any part of the shares of Non-Voting Common Stock you acquire pursuant to the exercise of your option.

   

  13.          

  Option not a Service Contract. Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any
    obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective
    shareholders, Boards of Directors, Officers or Employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate.

   

  

  
    32

    
      
 

  

   

  14.          

  Withholding Obligations.

   

  (a)            

  At the time you exercise your
    option, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a
    “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations
    of the Company or an Affiliate, if any, which arise in connection with the exercise of your option.

   

  (b)            

  Upon your request and subject to approval by the Company, in its sole discretion, and compliance with any applicable legal conditions or restrictions, the Company may withhold from fully vested shares of
    Non-Voting Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Non-Voting Common Stock having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount
    of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of your option as a liability for financial accounting purposes). If the date of determination of any tax withholding obligation is deferred to a
    date later than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of
    Non-Voting Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of
    such election, shares of Non-Voting Common Stock shall be withheld solely from fully vested shares of Non-Voting Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse
    consequences to you arising in connection with such share withholding procedure shall be your sole responsibility.

   

  (c)             

  You may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though
    your option is vested, and the Company shall have no obligation to issue a certificate for such shares of Non-Voting Common Stock or release such shares of Non-Voting Common Stock from any escrow provided for herein unless such obligations are
    satisfied.

   

  15.          

  Tax Consequences. You hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that
    minimizes your tax liabilities. You shall not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation. In particular, you acknowledge
    that this option is exempt from Section 409A of the Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Non-Voting Common Stock on the Date of Grant and there is no other
    impermissible deferral of compensation associated with the option. Because the Non- Voting Common Stock is not traded on an established securities market, the Fair Market Value is determined by the Board, perhaps in consultation with an independent
    valuation firm retained by the Company. You acknowledge that there is no guarantee that the Internal Revenue Service will agree with the valuation as determined by the Board, and you shall not make any claim against the Company, or any of its Officers,
    Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that the valuation determined by the Board is less than the “fair market value” as subsequently determined by the Internal Revenue Service.

   

  

  
    33

    
      
 

  

   

  16.          

  NOTICES. Any notices provided for in your option or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices
    delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company.

   

  17.          

  Governing Plan Document. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further
    subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and those of the Plan, the provisions of
    the Plan shall control. 

   

  

  34Exhibit
        10.32

   

  

  KINETA,
      INC.

      AMENDMENT

      TO 2010 EQUITY INCENTIVE PLAN

   

  THIS
      AMENDMENT TO 2010 EQUITY INCENTIVE PLAN (this “Amendment”) is made as of December 5, 2014, to the 2010 Equity
      Incentive Plan of Kineta, Inc. (the “Company”) (the “Plan”).

   

  RECITALS

   

  WHEREAS,
      the 2010 Equity Incentive Plan was adopted by the Company’s Board of Directors (the “Board”) on September 3,
      2010, and approved by the Company’s Shareholders (the “Shareholders”) on September 7, 2010.

   

  WHEREAS,
      pursuant to Article 2.b(vi) of the Plan, the Shareholders approved this Amendment on December 5, 2014.

   

  AMENDMENT

   

  1.       Amendment.
      “Share Reserve.” The first sentence of Section 3(a) of the Plan is hereby amended and restated in its entirety
      to increase the shares reserved under the Plan and to read as follows:

   

  Subject
      to the provisions of Section 9(a) relating to Capitalization Adjustments, the aggregate number of Non-Voting Common Stock that
      may be issued pursuant to Stock Awards beginning on the Effective Date shall not exceed two million seven hundred thousand (2,700,000)
      shares (the “Share Reserve”).

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