Document:

Exhibit 10.1

    

  

  
  

  

  TARGET HOSPITALITY CORP.

  2019 INCENTIVE COMPENSATION PLAN

  EXECUTIVE RESTRICTED STOCK UNITS TERMINATION AGREEMENT

  This Executive Restricted Stock Units Termination Agreement (this “Agreement”), dated effective as of the 5th day of
    August, 2020 (the “Effective Date”), is entered into by and between Target Hospitality Corp., a Delaware corporation (the “Company”), and James B. Archer (the “Participant”).

  Recitals

  WHEREAS, Section 5(b) of the Employment Agreement entered into between the Participant and Target Logistics Management,
    LLC, dated January 29, 2019 (the “Employment Agreement”), permits the Participant to receive Restricted Stock Units issued under the Target Hospitality Corp. 2019 Incentive Compensation Plan (the “Plan”) in lieu of some or all of the Participant’s Base Salary (as defined in the Employment Agreement);

  WHEREAS, the Participant previously elected to have all of his Base Salary for the calendar year ending December 31, 2020
    converted into an award of Restricted Stock Units (the “RSUs”), which RSUs are subject to a monthly vesting schedule during the period between January 1, 2020 and December 31, 2020, as provided in the Executive
    Restricted Stock Unit Agreement in Lieu of Salary (the “Award Agreement”);

  WHEREAS, the Company and the Participant have agreed that (i) the Participant shall forfeit a portion of the currently
    unvested RSUs; and (ii) the Company shall recommence payment of eighty percent (80%) of the Participant’s Base Salary for the remaining portion of the calendar year ending December 31, 2020.

  NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and
    for other good and valuable consideration, the Company and the Participant hereby agree as follows:

  1. Partial
        Cancellation of Restricted Stock Units.  The Participant’s right, title and interest in and to 15,307 of the RSUs (the “Cancelled RSUs”) is hereby cancelled and terminated, rendered null and void, and
      shall have no further force and effect as of the Effective Date.  The cancellation shall be applied on a pro-rata basis to the remaining unvested RSUs subject to the Award Agreement.  The Participant acknowledges and agrees that he and his estate,
      heirs, legatees, predecessors, successors, representatives, agents and assigns shall have no right whatsoever to receive shares of the Company’s common stock with respect to the Cancelled RSUs and further acknowledges on behalf of all such parties
      that the consideration provided in this Agreement shall be in full satisfaction of any and all rights the Participant may have with respect to the Cancelled RSUs.

  2. Base Salary
        Payments.  The Participant shall be entitled to receive eighty percent (80%) of the Base Salary amount payable under Section 5.2(a) of the Employment Agreement for the period between August 1, 2020 and December 31, 2020.

  
    

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  3. Acknowledgement. 

      The Participant hereby acknowledges that he has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations or promises made by the Company other than those contained in writing herein,
      and has entered into this Agreement freely based on his own judgment. By executing this Agreement, the Participant expressly represents that he has read this Agreement, understands its terms and has had an opportunity to seek legal counsel regarding
      this Agreement.

  4. Representation.
      The Participant hereby represents that (i) he has ownership and good title to the Cancelled RSUs and has not transferred or attempted to transfer such Cancelled RSUs to any other party, (ii) the Participant has full power and authority to enter into
      and deliver this Agreement, (iii) the Participant has not assigned any rights under the Award or the Plan, and (iv) this Agreement is enforceable against the Participant in accordance with its terms.

  5. Severability. 

      If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect.  Any provision of this Agreement held invalid or unenforceable
      only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

  6. Governing Law.
      This Agreement shall be governed, construed and interpreted in accordance with the internal substantive laws of the State of New York, without giving effect to the principles of conflicts of law.

  7. Binding Effect.
      This Agreement shall be binding on and inure to the benefit of the Company and the Participant and, in the case of the Participant, shall also be binding upon the Participant’s successors and assigns and is not intended to confer upon any other
      Person any rights or remedies hereunder.

  8. Other
        Agreements. This Agreement represents the final agreement between the parties with respect to the subject matter hereof and supersedes all other prior agreements and understandings, both written and oral, between the parties with respect to the
      subject matter hereof and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. There are no unwritten agreements between the parties as to the subject matter hereof.

  9. Amendment of
        Award Agreement.  Contemporaneously with the execution and delivery hereof, the Executive Restricted Stock Unit Agreement in Lieu of Salary between the Company and the Participant, dated January 2, 2020, is hereby amended by (i) revising the
      number of RSUs referenced in Section 1 of the Award Agreement to be “36,667,” and (ii) revising the number of Vested Units referenced for the period between September 1, 2020 and December 1, 2020 to be and to read “6,568” on the schedule in Section 3
      of the Award Agreement.

  10. Modification. 

      This Agreement may be modified only by a written agreement signed by both parties.

  
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  11. Multiple
        Counterparts. This Agreement may be executed in two counterparts, each of which for all purposes is to be deemed an original, but all of which shall constitute, collectively, one agreement.

  [Signature Page Follows]

  
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  IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date written above.

  TARGET HOSPITALITY CORP.

  

  

  

  

  By: /s/ Heidi D. Lewis

    

  Name:  Heidi D. Lewis

    

  Title:  Executive Vice President, General Counsel & Secretary

      

  

  

  

  

  PARTICIPANT

   

  

  /s/ James B. Archer 

    

    

  

  James B. Archer

  

  

  

  

  4Exhibit 10.1

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

	1.	If the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

	2.	In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”), the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

    

     

    

 

	3.	The undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

	4.	None of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate, the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

	5.	 

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

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	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

	6.	 

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

  

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	7.	The undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

	8.	The undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement and to serve as a director or officer of the Company, as applicable.

 

	9.	The undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company in any tender offer) in connection with any vote to approve a Business Combination.

 

	10.	The undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the Trust Fund.

 

	11.	The undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company (excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

	12.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

	13.	As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO; (v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the Securities and Exchange Commission, as amended.

 

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	14.	This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

  

	15.	The undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with respect to the subject matter hereof.

 

	16.	This Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	By:	/s/
Alice Lee
	 	 	Name of Insider: Alice Lee

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name: Roderick Wong 
	 	 	Title:   Chairman and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem
the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired
IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such
IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

      

     

    

 

		3.	The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

		4.	None
of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the
Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

5.

 

		(a)	The
undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as
described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the
Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on
which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation
of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months
after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent
to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar
transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash,
securities or other property.

 

		(b)	The
undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell,
contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably
be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement
or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate
of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement
with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or
decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares
of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an
intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

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		(c)	The
undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement
Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating
to the undersigned’s Private Placement Warrants.

 

		(d)	Notwithstanding
the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”)
by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable
upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among
the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its
members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent
and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price
no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares
were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination,
in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the
case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

		(e)	The
undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private
Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any
such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute
back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private
Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement
Shares or Private Placement Warrants, as applicable.

 

6.

 

		(a)	In
order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby
agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present
to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value
of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust
and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations
the undersigned might have.

 

		(b)	The
undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event
of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach
and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may
have in law or in equity, in the event of such breach.

 

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		7.	The
undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and
warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

		8.	The
undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement
and to serve as a director or officer of the Company, as applicable.

 

		9.	The
undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to
be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares
or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		10.	The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

		11.	The
undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
(excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		12.	This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    4

     

    

 

		13.	As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
“Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO;
(iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor
prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO;
(v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company
simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary
Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust
Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the
proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the
Securities and Exchange Commission, as amended.

 

		14.	This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

  

		15.	The
undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

		16.	This
Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of
this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights,
interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

[Signature Page Follows]

 

    5

     

    

  

	 	Sincerely,
	 	 
	 	By:	/s/
Carsten Boess
	 	 	Name of Insider: Carsten Boess

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/s
    Roderick Wong
	 	 	Name:  	Roderick Wong 
	 	 	Title:	Chairman and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem
the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired
IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such
IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

     

     

    

 

		3.	The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

		4.	None
of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the
Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

5.

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

    2

     

    

 

	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

6.

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

		7.	The
undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and
warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

		8.	The
undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement
and to serve as a director or officer of the Company, as applicable.

 

		9.	The
undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to
be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares
or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		10.	The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

		11.	The
undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
(excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		12.	This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    4

     

    

 

		13.	As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
“Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO;
(iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor
prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO;
(v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company
simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary
Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust
Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the
proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the
Securities and Exchange Commission, as amended.

 

		14.	This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

  

		15.	The
undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

		16.	This
Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of
this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights,
interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

[Signature Page Follows]

 

    5

     

    

 

	 	Sincerely,
	 	 
	 	By:	/s/
Michael Brophy
	 	 	Name of Insider: Michael Brophy

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name: 	Roderick Wong 
	 	 	Title: 	Chairman and Chief Executive Officer

 

    

     

    

 

August
3, 2020

 

Health
Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New
York, NY 10014

 

Chardan
Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re:
Initial Public Offering

 

Ladies
and Gentlemen:

 

This
letter (the “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and between Health Sciences Acquisitions Corporation
2, a Cayman Islands exempted company (the “Company”) and Chardan Capital Markets, LLC (the “Representative”),
relating to an underwritten initial public offering (the “IPO”) of the Company’s ordinary shares,
par value $0.0001 per share (the “Ordinary Shares”). Certain capitalized terms used herein are defined
in paragraph 13 hereof.

 

In
order to induce the Company and the Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

	1.	If
    the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
    owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

	2.	In
    the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
    Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
    the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations
    except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter,
    redeem the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
    including interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the
    number of then outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders
    (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following
    such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors,
    dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands
    law to provide for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all
    right, title, interest or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of
    the Company as a result of such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of
    the undersigned have acquired IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the
    Trust Account with respect to such IPO Shares in the event that the Company fails to consummate a Business Combination within
    the time period set forth in the Charter.

 

    

     

    

 

	3.	The
    undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
    business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction
    must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion
    from an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent
    accounting firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point
    of view.

 

	4.	None
    of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled
    to receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
    the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in
    the Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to
    insiders.”

 

	5.	 

 

	 	(a)	The
    undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees
    as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50%
    of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2)
    the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits,
    share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
    period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining
    50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination,
    or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation,
    merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right
    to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The
    undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer,
    sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might
    reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due
    to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the
    undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing)
    of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent
    position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act
    of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect
    to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary
    Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting
    Agreement.

 

    2

     

    

 

	 	(c)	The
    undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement
    Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating
    to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding
    the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”)
    by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued
    or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer
    (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s
    affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue
    of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves
    a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement
    Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the
    consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms
    of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of
    the holders of the Insider Shares.

 

	 	(e)	The
    undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares,
    Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion
    of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will
    contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider
    Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider
    Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

	6.	 

 

	 	(a)	In
    order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby
    agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present
    to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market
    value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held
    in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual
    obligations the undersigned might have.

 

	 	(b)	The
    undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the
    event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such
    breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such
    party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

  

	7.	The
    undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the
    Company of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information
    previously furnished to the Company and the Representative is true and accurate in all material respects, does not omit any
    material information with respect to the undersigned’s background and contains all of the information required to be
    disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s
    FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in all material respects.
    The undersigned represents and warrants that:

  

	 	(a)	He
    or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation
    to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He
    or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial
    transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently
    a defendant in any such criminal proceeding; and

 

	 	(c)	he
    or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had
    a securities or commodities license or registration denied, suspended or revoked.

 

	8.	The
    undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter
    Agreement and to serve as a director or officer of the Company, as applicable.

 

	9.	The
    undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned
    or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement
    Shares or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares
    to the Company in any tender offer) in connection with any vote to approve a Business Combination.

 

	10.	The
    undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
    and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
    of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the
    funds then held in the Trust Fund.

 

	11.	The
    undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
    (excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
    Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the
    Charter.

 

	12.	This
    Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
    giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
    The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to
    this Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America
    for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive
    and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

	13.	As
    used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition,
    stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
    (ii) “Insiders” shall mean all officers, directors and sponsors of the Company immediately prior
    to the IPO; (iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired
    by the Sponsor prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the
    Company’s IPO; (v) “Private Placement Warrants” shall mean the warrants that are being sold
    privately by the Company simultaneously with the consummation of the IPO; (vi) “Private Placement Shares”
    shall mean the Ordinary Shares that are being sold privately by the Company simultaneously with the consummation of the IPO;
    (vii) “Trust Account” shall mean the trust account into which the net proceeds of the Company’s
    IPO and a portion of the proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited;
    and (viii) “Registration Statement” means the Company’s registration statement on Form S-1
    (SEC File No. 333-239922) filed with the Securities and Exchange Commission, as amended.

 

    4

     

    

 

	14.	This
    Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
    hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or
    oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter
    Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular
    provision, except by a written instrument executed by all parties hereto.

  

	15.	The
    undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
    and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
    a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company
    with respect to the subject matter hereof.

 

	16.	This
    Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
    and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii)
    the liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach
    of this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their
    rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment
    in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title
    to the purported assignee.

 

[Signature
Page Follows]

 

    5

     

    

   

	 	Sincerely,
	 	 
	 	By:	/s/
Naveen Yalamanchi
	 	 	Name
    of Insider: Naveen Yalamanchi

 

	 	Acknowledged
    and Agreed:
	 	 
	 	Health
    Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name:
    Roderick Wong 
	 	 	Title:   Chairman
    and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem
the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired
IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such
IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

     

     

    

 

		3.	The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

		4.	None
of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the
Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

5.

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

    2

     

    

 

	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

6.

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

		7.	The
undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and
warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

		8.	The
undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement
and to serve as a director or officer of the Company, as applicable.

 

		9.	The
undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to
be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares
or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		10.	The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

		11.	The
undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
(excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		12.	This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    4

     

    

 

		13.	As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
“Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO;
(iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor
prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO;
(v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company
simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary
Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust
Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the
proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the
Securities and Exchange Commission, as amended.

 

		14.	This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

  

		15.	The
undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

		16.	This
Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of
this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights,
interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

[Signature Page Follows]

 

    5

     

    

  

	 	Sincerely,
	 	 
	 	By:	/s/
Pedro Granadillo
	 	 	Name of Insider: Pedro Granadillo

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name: 	Roderick Wong 
	 	 	Title: 	Chairman and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem
the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired
IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such
IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

     

     

    

 

		3.	The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

		4.	None
of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the
Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

5.

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

    2

     

    

 

	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

6.

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

		7.	The
undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and
warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

		8.	The
undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement
and to serve as a director or officer of the Company, as applicable.

 

		9.	The
undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to
be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares
or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		10.	The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

		11.	The
undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
(excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		12.	This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    4

     

    

 

		13.	As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
“Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO;
(iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor
prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO;
(v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company
simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary
Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust
Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the
proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the
Securities and Exchange Commission, as amended.

 

		14.	This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

  

		15.	The
undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

		16.	This
Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of
this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights,
interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

[Signature Page Follows]

 

    5

     

    

 

	 	Sincerely,
	 	 
	 	By:	 /s/ Roderick Wong
	 	 	Name of Insider: Roderick Wong

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name: 	Roderick Wong 
	 	 	Title: 	Chairman and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

		1.	If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

		2.	In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except
for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem
the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then
outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including
the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption,
subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and
liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide
for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest
or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of
such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired
IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such
IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

     

     

    

 

		3.	The
undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must
be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from
an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting
firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

		4.	None
of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the
Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

5.

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

    2

     

    

 

	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

6.

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

		7.	The
undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company
of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and
warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

		8.	The
undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement
and to serve as a director or officer of the Company, as applicable.

 

		9.	The
undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to
be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares
or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company
in any tender offer) in connection with any vote to approve a Business Combination.

 

		10.	The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds
then held in the Trust Fund.

 

		11.	The
undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
(excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

		12.	This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this
Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

    4

     

    

 

		13.	As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
“Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO;
(iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor
prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO;
(v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company
simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary
Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust
Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the
proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the
Securities and Exchange Commission, as amended.

 

		14.	This
Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof
and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may
not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except
by a written instrument executed by all parties hereto.

  

		15.	The
undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

		16.	This
Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of
this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights,
interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

[Signature Page Follows]

 

    5

     

    

 

	 	Sincerely,
	 	 
	 	By:	 /s/ Stuart Peltz
	 	 	Name of Insider: Stuart Peltz

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong
	 	 	Name: 	Roderick Wong 
	 	 	Title: 	Chairman and Chief Executive Officer

 

    

     

    

 

August 3, 2020

 

Health Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New York, NY 10014

 

Chardan Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

 

This letter (the “Letter Agreement”)
is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Health Sciences Acquisitions Corporation 2, a Cayman Islands exempted company (the “Company”)
and Chardan Capital Markets, LLC (the “Representative”), relating to an underwritten initial public offering
(the “IPO”) of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary
Shares”). Certain capitalized terms used herein are defined in paragraph 13 hereof.

 

In order to induce the Company and the
Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

 

	1.	If the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

	2.	In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”), the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter, redeem the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the number of then outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of the Company as a result of such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of the undersigned have acquired IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the Trust Account with respect to such IPO Shares in the event that the Company fails to consummate a Business Combination within the time period set forth in the Charter.

 

    

     

    

 

	3.	The undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion from an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent accounting firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

	4.	None of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled to receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate, the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in the Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to insiders.”

 

	5.	 

 

	 	(a)	The undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50% of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2) the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining 50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination, or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer, sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting Agreement.

 

    2

     

    

 

	 	(c)	The undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”) by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of the holders of the Insider Shares.

 

	 	(e)	The undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares, Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

	6.	 

 

	 	(a)	In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual obligations the undersigned might have.

 

	 	(b)	The undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

	7.	The undersigned agrees to be a director or officer of the Company, as applicable, until the earlier of the consummation by the Company of an initial Business Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information with respect to the undersigned’s background and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that:

  

	 	(a)	He or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and

 

	 	(c)	he or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked.

 

	8.	The undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter Agreement and to serve as a director or officer of the Company, as applicable.

 

	9.	The undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement Shares or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares to the Company in any tender offer) in connection with any vote to approve a Business Combination.

 

	10.	The undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the Trust Fund.

 

	11.	The undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company (excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the Charter.

 

	12.	This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to this Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

	13.	As used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii) “Insiders” shall mean all officers, directors and sponsors of the Company immediately prior to the IPO; (iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired by the Sponsor prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the Company’s IPO; (v) “Private Placement Warrants” shall mean the warrants that are being sold privately by the Company simultaneously with the consummation of the IPO; (vi) “Private Placement Shares” shall mean the Ordinary Shares that are being sold privately by the Company simultaneously with the consummation of the IPO; (vii) “Trust Account” shall mean the trust account into which the net proceeds of the Company’s IPO and a portion of the proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited; and (viii) “Registration Statement” means the Company’s registration statement on Form S-1 (SEC File No. 333-239922) filed with the Securities and Exchange Commission, as amended.

 

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	14.	This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

  

	15.	The undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with respect to the subject matter hereof.

 

	16.	This Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach of this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.

 

[Signature Page Follows]

 

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	 	Sincerely,
	 	 
	 	By:	 /s/ Stephanie Sirota
	 	 	Name of Insider: Stephanie Sirota

 

	 	Acknowledged and Agreed:
	 	 
	 	Health Sciences Acquisitions Corporation 2
	 	 
	 	By:	 /s/ Roderick Wong
	 	 	Name: Roderick Wong 
	 	 	Title:   Chairman and Chief Executive Officer

 

 

    

     

    

 

August
3, 2020

 

Health
Sciences Acquisitions Corporation 2

40 10th Avenue, Floor 7

New
York, NY 10014

 

Chardan
Capital Markets, LLC

17 State Street

New York, NY 10004

 

Re:
Initial Public Offering

 

Ladies
and Gentlemen:

 

This
letter (the “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and between Health Sciences Acquisitions Corporation
2, a Cayman Islands exempted company (the “Company”) and Chardan Capital Markets, LLC (the “Representative”),
relating to an underwritten initial public offering (the “IPO”) of the Company’s ordinary shares,
par value $0.0001 per share (the “Ordinary Shares”). Certain capitalized terms used herein are defined
in paragraph 13 hereof.

 

In
order to induce the Company and the Representative to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

	1.	If
    the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all shares beneficially
    owned by him or her, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

	2.	In
    the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
    Amended and Restated Memorandum and Articles of Association, as the same may be further amended from time to time (the “Charter”),
    the undersigned will, as promptly as possible, take all necessary actions to cause the Company to (i) cease all operations
    except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter,
    redeem the IPO Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
    including interest earned on the Trust Account not previously released to the Company (less taxes payable), divided by the
    number of then outstanding IPO Shares, which redemption will completely extinguish public shareholders’ rights as shareholders
    (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following
    such redemption, subject to the approval of the Company’s remaining shareholders and the Company’s board of directors,
    dissolve and liquidate, subject in the cases of clauses (ii) and (iii) to the Company’s obligations under Cayman Islands
    law to provide for claims of creditors and other requirements of applicable law. The undersigned hereby waives any and all
    right, title, interest or claim of any kind in or to any distribution of the Trust Account and any remaining net assets of
    the Company as a result of such liquidation with respect to the Insider Shares owned by the undersigned. However, if any of
    the undersigned have acquired IPO Shares in or after the IPO, they will be entitled to liquidating distributions from the
    Trust Account with respect to such IPO Shares in the event that the Company fails to consummate a Business Combination within
    the time period set forth in the Charter.

 

    

     

    

 

	3.	The
    undersigned acknowledges and agrees that prior to entering into a definitive agreement for a Business Combination with a target
    business that is affiliated with the undersigned or any other Insiders of the Company or their affiliates, such transaction
    must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion
    from an independent investment banking firm, which is a member of the Financial Industry Regulatory Authority, or an independent
    accounting firm that such Business Combination is fair to the Company’s unaffiliated shareholders from a financial point
    of view.

 

	4.	None
    of the undersigned, any member of the family of any of the undersigned, or any affiliate of the undersigned will be entitled
    to receive and will not accept any compensation or other cash payment prior to, or for services rendered in order to effectuate,
    the consummation of the Business Combination; provided that the Company shall be allowed to make the payments set forth in
    the Registration Statement adjacent to the caption “Prospectus Summary—The Offering—Limited payments to
    insiders.”

 

	5.	In
    the event of the liquidation of the Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against
    any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other
    expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened,
    or any claim whatsoever) which the Company may become subject as a result of any claim by any target business or vendor or
    other person who is owed money by the Company for services rendered or products sold or contracted for, but only to the extent
    necessary to ensure that such loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Fund;
    provided that such indemnity shall not apply if such target business, vendor or other person has executed an agreement
    waiving any claims against the Trust Fund.

 

	 	(a)	The
    undersigned agrees that the Insider Shares may not be transferred, assigned or sold (except to certain permitted transferees
    as described in the Registration Statement or herein) (the “Lockup”) until, with respect to 50%
    of the Insider Shares, the earlier to occur of: (1) six (6) months after the completion of a Business Combination and (2)
    the date on which the closing price of the Ordinary Shares equals or exceeds $12.50 per share (as adjusted for share splits,
    share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
    period following the consummation of  the Company’s initial Business Combination and, with respect to the remaining
    50% of the Insider Shares, six months after the date of the consummation of the Company’s initial Business Combination,
    or earlier in each case if, subsequent to the Company’s initial Business Combination, the Company completes a liquidation,
    merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right
    to exchange their Ordinary Shares for cash, securities or other property.

 

	 	(b)	The
    undersigned will not, without the prior written consent of the Representative pursuant to the Underwriting Agreement, offer,
    sell, contract to sell, pledge, hedge or otherwise dispose of (or enter into any transaction that is designed to, or might
    reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due
    to cash settlement or otherwise) by the undersigned or any affiliate of the undersigned or any person in privity with the
    undersigned or any affiliate of the undersigned), directly or indirectly, including the filing (or participation in the filing)
    of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase a put equivalent
    position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act
    of 1934, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder with respect
    to, any other Ordinary Shares of the Company or any securities convertible into, or exercisable, or exchangeable for, Ordinary
    Shares or publicly announce an intention to effect any such transaction, for a period of 180 days after the date of the Underwriting
    Agreement.

 

    2

     

    

  

	 	(c)	The
    undersigned agrees that until the Company consummates an initial Business Combination, the undersigned’s Private Placement
    Warrants will be subject to the transfer restrictions described in the Private Placement Warrants Purchase Agreement relating
    to the undersigned’s Private Placement Warrants.

 

	 	(d)	Notwithstanding
    the provisions set forth in paragraphs 6(a) and (c), transfers, assignments and sales (a “Transfer”)
    by the undersigned of the Insider Shares, Private Placement Shares, Private Placement Warrants and Ordinary Shares issued
    or issuable upon the exercise of the Private Placement Warrants or conversion of the Insider Shares are permitted if the Transfer
    (i) is among the insiders, to the Company’s officers, directors, advisors or employees; (ii) is to an Insider’s
    affiliates or its members upon liquidation; (iii) is to relatives and trusts for estate planning purposes; (iv) is by virtue
    of the law of descent and distribution upon death; (v) is pursuant to a qualified domestic relations order; (vi) involves
    a private sale made at a price no greater than the price at which the Insider Shares, Private Placement Shares, Private Placement
    Warrants or Ordinary Shares were originally purchased; or (vii) is to the Company for cancellation in connection with the
    consummation of the Business Combination, in each case (except for clause (vii)) where the transferee agrees to the terms
    of the escrow agreement and forfeiture, as the case may be, as well as the other applicable restrictions and agreements of
    the holders of the Insider Shares.

 

	 	(e)	The
    undersigned acknowledges and agrees that if, in order to consummate any Business Combination, the holders of Insider Shares,
    Private Placement Shares or Private Placement Warrants are required to contribute back to the capital of the Company a portion
    of any such securities to be cancelled by the Company or transfer any such securities to third parties, the undersigned will
    contribute back to the capital of the Company or transfer to such third parties, at no cost, a proportionate number of Insider
    Shares, Private Placement Shares or Private Placement Warrants, as applicable, pro rata with the other holders of Insider
    Shares, Private Placement Shares or Private Placement Warrants, as applicable.

 

	6.	 

 

	 	(a)	In
    order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned hereby
    agrees that until the earliest of the Company’s initial Business Combination or liquidation, the undersigned shall present
    to the Company for its consideration, prior to presentation to any other entity, any target business that has a fair market
    value of at least 80% of the assets held in the Trust Account (excluding the amount of deferred underwriting discounts held
    in trust and taxes payable on the interest earned on the trust account), subject to any existing or future fiduciary or contractual
    obligations the undersigned might have.

 

	 	(b)	The
    undersigned hereby agrees and acknowledges that (i) the Representative and the Company would be irreparably injured in the
    event of a breach of the obligations under paragraph 6(a) above, (ii) monetary damages may not be an adequate remedy for such
    breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such
    party may have in law or in equity, in the event of such breach.

 

    3

     

    

 

 

	7.	The
    undersigned’s FINRA Questionnaire previously furnished to the Company and the Representative is true and accurate in
    all material respects. The undersigned represents and warrants that:

  

	 	(a)	He
    or she is not subject to, or a respondent in, any legal action for, any injunction, cease-and-desist order or order or stipulation
    to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;

 

	 	(b)	He
    or she has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial
    transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently
    a defendant in any such criminal proceeding; and

 

	 	(c)	he
    or she has never been suspended or expelled from membership in any securities or commodities exchange or association or had
    a securities or commodities license or registration denied, suspended or revoked.

 

	8.	The
    undersigned has full right and power, without violating any agreement by which he or she is bound, to enter into this Letter
    Agreement and to serve as a director or officer of the Company, as applicable.

 

	9.	The
    undersigned hereby waives his or her right to exercise redemption rights with respect to any of the Ordinary Shares owned
    or to be owned by the undersigned, directly or indirectly, whether such shares be part of the Insider Shares, Private Placement
    Shares or IPO Shares, and agrees that he or she will not seek redemption with respect to such shares (or sell such shares
    to the Company in any tender offer) in connection with any vote to approve a Business Combination.

 

	10.	The
    undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum
    and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation
    of a Business Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the
    funds then held in the Trust Fund.

 

	11.	The
    undersigned agrees not to participate in the formation of, or become an officer or director of, any other blank check company
    (excluding existing affiliations), until the Company has entered into a definitive agreement with respect to an initial Business
    Combination or the Company has failed to complete an initial Business Combination within the time period set forth in the
    Charter.

 

	12.	This
    Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
    giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
    The undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating in any way to
    this Letter Agreement shall be brought and enforced in the courts of the State of New York of the United States of America
    for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive
    and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

	13.	As
    used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition,
    stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
    (ii) “Insiders” shall mean all officers, directors and sponsors of the Company immediately prior
    to the IPO; (iii) “Insider Shares” shall mean the 4,000,000 Ordinary Shares of the Company acquired
    by the Sponsor prior to the IPO; (iv) “IPO Shares” shall mean the Ordinary Shares issued in the
    Company’s IPO; (v) “Private Placement Warrants” shall mean the warrants that are being sold
    privately by the Company simultaneously with the consummation of the IPO; (vi) “Private Placement Shares”
    shall mean the Ordinary Shares that are being sold privately by the Company simultaneously with the consummation of the IPO;
    (vii) “Trust Account” shall mean the trust account into which the net proceeds of the Company’s
    IPO and a portion of the proceeds from the sale of the Private Placement Shares and Private Placement Warrants will be deposited;
    and (viii) “Registration Statement” means the Company’s registration statement on Form S-1
    (SEC File No. 333-239922) filed with the Securities and Exchange Commission, as amended.

 

    4

     

    

  

	14.	This
    Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
    hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or
    oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter
    Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular
    provision, except by a written instrument executed by all parties hereto.

  

	15.	The
    undersigned acknowledges and understands that the Representative and the Company will rely upon the agreements, representations
    and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the any Representative
    a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company
    with respect to the subject matter hereof.

 

	16.	This
    Letter Agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
    and assigns. This Letter Agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii)
    the liquidation of the Company; provided that such termination shall not relieve the undersigned from liability for any breach
    of this agreement prior to its termination. The parties hereto may not assign either this Letter Agreement or any of their
    rights, interests, or obligations hereunder without the prior written consent of the other party. Any purported assignment
    in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title
    to the purported assignee.

 

[Signature
Page Follows]

 

    5

     

    

   

	 	Sincerely,

         

        HSAC
        2 HOLDINGS, LLC

	 	 
	 	By:	/s/
Alice Lee
	 	Name:	Alice
Lee
	 	Title:	Director

 

	 	Acknowledged
    and Agreed:
	 	 
	 	Health
    Sciences Acquisitions Corporation 2
	 	 
	 	By:	/s/
Roderick Wong 
	 	 	Name:
    Roderick Wong
	 	 	Title:   Chairman
    and Chief Executive Officer

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