Document:

Exhibit 4.1

 

WARRANT
AGREEMENT

 

This
Warrant Agreement (“Warrant Agreement”) is made as of December 13, 2018, by and between Chardan Healthcare
Acquisition Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company
(the “Warrant Agent”).

 

WHEREAS,
the Company is engaged in a public offering (the “Public Offering”) of 7,000,000 units (the “Units”)
of the Company (and up to 1,050,000 additional Units if the underwriters’ over-allotment option is exercised in full), each
Unit consisting of one share of common stock, par value $0.0001 per share (the “Common Stock”) and one warrant
(the “Public Warrant” or “Public Warrants”), each whole Public Warrant entitling its holder
to purchase one-half (1/2) of a share of Common Stock (the “Public Warrant Shares”);

 

WHEREAS,
the Company has received a binding commitment from Chardan Investments, LLC, to purchase up to 2,900,000 warrants pursuant the
Subscription Agreement, dated as of December 13, 2018 (“Subscription Agreement”), and in connection therewith,
will issue and deliver up to 2,900,000 warrants (the “Private Warrants”, and together with the Public Warrants,
the “Warrants”), each whole Private Warrant entitling its holder to purchase one share of Common Stock (“Private
Warrant Shares”, and together with the Public Warrant Shares, the “Warrant Shares”); and

 

WHEREAS,
the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form
S-1, No. 333-228533 (“Registration Statement”), for the registration, under the Securities Act of 1933, as
amended (the “Act”) of, among other securities, the Public Warrants; and

 

WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection
with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

 

WHEREAS,
the Company desires to provide for the form, terms and provisions of the Warrants, including the terms upon which they shall be
issued and exercised, and the respective rights, limitation of rights and immunities of the Company, the Warrant Agent and the
holders of the Warrants; and

 

WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company
and countersigned by or on behalf of the Warrant Agent, as provided herein, the legally valid and binding obligations of the Company,
and to authorize the execution and delivery of this Warrant Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

1.            Appointment
of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the
Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth
in this Warrant Agreement.

 

     

     

    

 

2.            Warrants.

 

2.1         Form
of Warrant. Each Public Warrant shall be: (a) issued in registered form only, (b) in substantially the form of Exhibit
A hereto, the provisions of which are incorporated herein and (c) signed by, or bear the facsimile signature of, the Chairman
of the Board, the Chief Executive Officer or the Chief Financial Officer of the Company. In the event the person whose facsimile
signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant
before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of
issuance.

 

2.2         Effect
of Countersignature. Unless and until countersigned by the Warrant Agent pursuant to this Warrant Agreement, a Warrant shall
be invalid and of no effect and may not be exercised by the holder thereof.

 

2.3         Registration.

 

2.3.1      Warrant
Register. The Warrant Agent shall maintain books (the “Warrant Register”), for the registration of the
original issuance and transfers of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent shall issue and
register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions
delivered to the Warrant Agent by the Company.

 

2.3.2      Registered
Holder. Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and
treat the person in whose name such Warrant shall be registered upon the Warrant Register (“Registered Holder”)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the Warrant certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise
thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

 

2.4         Detachability
of Warrants. Each of the Common Stock and the Warrants comprising the Units will begin to trade separately on (i) the 90th
day after the effectiveness of the Registration Statement, or (ii) such earlier date as Chardan Capital Markets, LLC, as representative
of the underwriters (the “Representative”), shall determine is acceptable (such date, the “Detachment
Date”). In no event will separate trading of the securities comprising the Units commence until the Company (i) files
a Current Report on Form 8-K with the SEC including audited balance sheet reflecting our receipt of the gross proceeds of the
Public Offering and (ii) issues a press release announcing when such separate trading will begin.

 

2.5         Private
Warrants. The Private Warrants will be issued substantially in the form of Exhibit B hereto, and they (i) will be exercisable
either for cash or on a cashless basis at the holders option pursuant to Section 3.3 hereof and (ii) will not be redeemable by
the Company, in either case as long as the Private Warrants are held by the initial purchasers or any of their permitted transferees
(as prescribed in the Subscription Agreement). The Private Warrants may not be sold, transferred, assigned, pledged or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of, the Private Warrants (or any securities underlying the Private Warrants) for a period of three hundred sixty (360)
days following the effective date of the Registration Statement to anyone other than any member participating in the Public Offering
and the officers or partners thereof, if all securities so transferred remain subject to the lock-up restriction set forth above
for the remainder of the time period.

 

     

     

    

 

3.           Terms
and Exercise of Warrants.

 

3.1         Warrant
Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the
provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated
therein, at $11.50 per share, subject to the adjustments provided in Section 4 hereof. The term “Warrant Price”
as used in this Warrant Agreement refers to the price per whole share at which Common Stock may be purchased at the time such
Warrant is exercised. The Public Warrants may only be exercised for a whole number of Warrant Shares by a Registered Holder. No
fractional shares will be issued.

 

3.2         Duration
of Warrants. A Warrant may be exercised only during the period (“Exercise Period”) commencing on the later
to occur of (i) the completion of the Company’s initial business combination and (ii) 12 months following the closing of
the Public Offering, and terminating at 5:00 p.m., New York City time, on the earlier to occur of (i) (A) five years following
the completion of the Company’s initial business combination with respect to the Public Warrants, and (B) five years from
the effective date of the Registration Statement with respect to the Private Warrants, and (ii) the date fixed for redemption
of the Warrants as provided in Section 6 of this Warrant Agreement (“Expiration Date”). Except with respect
to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the
Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Warrant Agreement shall
cease at the close of business on the Expiration Date. The Company may extend the duration of the Warrants by delaying the Expiration
Date; provided, however, that the Company will provide written notice of not less than 10 days to Registered Holders of such extension
and that such extension shall be identical in duration among all of the then outstanding Warrants.

 

3.3         Exercise
of Warrants.

 

3.3.1      Cash
Exercise. Subject to the provisions of the Warrant and this Warrant Agreement, a Warrant, when countersigned by the Company,
may be exercised by the Registered Holder thereof by surrendering it at the office of the Warrant Agent, or at the office of its
successor as Warrant Agent, currently being:

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

 

with
the subscription form, as set forth in the Warrant, duly executed, and by paying in full, in lawful money of the United States,
by certified or bank cashier’s check payable to the order of the Warrant Agent or by wire transfer to the Warrant Agent’s
JPMorgan bank account, the Warrant Price for each whole Warrant Share as to which the Warrant is exercised and any and all applicable
taxes due in connection with the exercise of the Warrant, the exchange of the Warrant for the Warrant Shares, and the issuance
of the Warrant Shares (such exercise, a “Cash Exercise”). A Cash Exercise in accordance with this Section 3.3.1
is available to the Registered Holder only during such times that there is an effective registration statement registering the
Warrant Shares, with the prospectus contained therein being available for the resale of the Warrant Shares.

 

     

     

    

 

3.3.2      Cashless
Exercise. Subject to Section 2.4, notwithstanding anything contained herein to the contrary, if there is no effective registration
statement registering the Warrant Shares on any day the Registered Holder desires to exercise the Warrants and more than 120 days
have passed since the Company complete its initial business combination, the Registered Holder may exercise the Warrants in whole
or in part in lieu of making a cash payment for whole numbers of Warrant Shares, by providing notice to the Chief Financial Officer
of the Company in a subscription form of its election to utilize cashless exercise, in which event the Company shall issue to
the Holder the number of Warrant Shares determined as follows:

 

X
= Y [(A-B)/A]

 

where:

 

X
= the number of Warrant Shares to be issued to the Holder.

 

Y
= the number of Warrant Shares with respect to which this Warrant is being exercised.

 

A
= the fair market value of one share of Common Stock.

 

B
= the Warrant Price.

 

The
Registered Holder may not exercise any Warrants in the absence of a registration statement except pursuant to this Section
3.3.2. For purposes of this Section 3.3.2 and Section 4.1, the fair market value of one share of Common Stock
is defined as follows:

 

(i)         if
the Company’s Common Stock is listed and traded on the New York Stock Exchange, the NYSE America, the NASDAQ Global Select
Market, the NASDAQ Global Market or the NASDAQ Capital Market (each, a “Trading Market”), the fair market value
shall be deemed the average of the closing price on such Trading Market for the 10 trading day ending on the third trading day
immediately prior to the date the subscription form is submitted to the Company in connection with the exercise of the Warrant;
or

 

(ii)        if
the Company’s Common Stock is not listed on a Trading Market, but is traded in the over-the-counter market, the fair market
value shall be deemed to be the average of the bid price on such Trading Market for the 10 trading day ending on the third trading
day immediately prior to the date the subscription form is submitted in connection with the exercise of the Warrant; or

 

     

     

    

 

(iii)       if
there is no active public market for the Company’s Common Stock, the fair market value of the Common Stock shall be determined
in good faith by the Company’s board of directors.

 

3.3.3      Fractional
Shares. Notwithstanding any provision to the contrary contained in this Warrant Agreement, the Company shall not be required
to issue any fraction of a Warrant Share in connection with the exercise of Warrants, and in any case where the Registered Holder
would be entitled under the terms of the Warrants to receive a fraction of a Warrant Share upon the exercise of such Registered
Holder’s Warrants, issue or cause to be issued only the largest whole number of Warrant Shares issuable on such exercise
(and such fraction of a Warrant Share will be disregarded); provided, that if more than one Warrant certificate is presented for
exercise at the same time by the same Registered Holder, the number of whole Warrant Shares which shall be issuable upon the exercise
thereof shall be computed on the basis of the aggregate number of Warrant Shares issuable on exercise of all such Warrants.

 

3.3.4      Issuance
of Certificates. No later than three (3) business days following the exercise of any Warrant and the clearance of the funds
in payment of the Warrant Price pursuant to Section 3.3.1 or cashless exercise pursuant to Section 3.3.2, the Company shall issue,
or cause to be issued, to the Registered Holder of such Warrant a certificate or certificates representing (or at the option of
the Registered Holder, deliver electronically through the facilities of the Depository Trust Corporation) the number of full shares
of Common Stock to which he, she or it is entitled, registered in such name or names as may be directed by him, her or it, and,
if such Warrant shall not have been exercised or surrendered in full, a new countersigned Warrant for the number of shares as
to which such Warrant shall not have been exercised or surrendered. Notwithstanding the foregoing, the Company shall not deliver,
or cause to be delivered, any securities without applicable restrictive legend pursuant to the exercise of a Warrant unless (a)
a registration statement under the Act with respect to the Common Stock issuable upon exercise of such Warrants is effective and
a current prospectus relating to the shares of Common Stock issuable upon exercise of the Warrants is available for delivery to
the Registered Holder of the Warrant or (b) in the opinion of counsel to the Company, the exercise of the Warrants is exempt from
the registration requirements of the Act and such securities are qualified for sale or exempt from qualification under applicable
securities laws of the states or other jurisdictions in which the Registered Holder resides. Warrants may not be exercised by,
or securities issued to, any Registered Holder in any state in which such exercise or issuance would be unlawful. In addition,
in no event will the Company be obligated to pay such Registered Holder any cash consideration upon exercise or otherwise “net
cash settle” the Warrant.

 

3.3.5      Valid
Issuance. All shares of Common Stock issued upon the proper exercise or surrender of a Warrant in conformity with this Warrant
Agreement shall be validly issued, fully paid and non-assessable.

 

3.3.6      Date
of Issuance. Each person or entity in whose name any such certificate for shares of Common Stock is issued shall, for all
purposes, be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment
of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender
and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the
holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

     

     

    

 

4.           Adjustments.

 

4.1         Stock
Dividends, Splits. If, after the date hereof, and subject to the provisions of Section 4.5 below, the number of outstanding
shares of Common Stock is increased by a stock dividend payable in shares of Common Stock, or by a forward or reverse split of
shares of Common Stock, or other similar event, then, on the effective date of such stock dividend, split or similar event, the
number of shares of Common Stock issuable on exercise of each Warrant shall be increased or decreased in proportion to such increase
or decrease in outstanding shares of Common Stock. A rights offering to all holders of the shares of Common Stock entitling holders
to purchase shares of Common Stock at a price less than the Fair Market Value shall be deemed a stock dividend of a number of
shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering
(or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the shares
of Common Stock) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights
offering divided by (y) the Fair Market Value. For purposes of this subsection 4.1, if the rights offering is for securities convertible
into or exercisable for shares of Common Stock, in determining the price payable for the shares of Common Stock, there shall be
taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion.

 

4.2         Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 4.6, the number of outstanding shares of Common
Stock is decreased by a consolidation, combination or reclassification of shares of Common Stock or other similar event, then,
on the effective date of such consolidation, combination, reclassification or similar event, the number of shares of Common Stock
issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

 

4.3         Extraordinary
Dividends. If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding and unexpired,
shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Stock on account
of such Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than
(a) as described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion rights
of the holders of the Common Stock in connection with a proposed initial Business Combination, (d) as a result of the repurchase
of Common Stock by the Company in connection with an initial Business Combination or as otherwise permitted by the Investment
Management Trust Agreement between the Company and the Warrant Agent dated of even date herewith or (e) in connection with the
Company’s liquidation and the distribution of its assets upon its failure to consummate a Business Combination (any such
non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased,
effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value
(as determined by the Company’s board of directors, in good faith) of any securities or other assets paid on each share
of Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary Cash Dividends”
means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts of all other
cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of
such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this
Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number
of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units
in the Offering). The foregoing adjustment shall not apply to the Private Warrants.

 

     

     

    

 

4.4         Adjustments
in Exercise Price. Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted,
as provided in Sections 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant
Price, immediately prior to such adjustment, by a fraction, (a) the numerator of which shall be the number of shares of Common
Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (b) the denominator of which shall
be the number of shares of Common Stock so purchasable immediately thereafter.

 

4.5         Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock (other than a change covered by Sections 4.1 or 4.2 hereof or one that solely affects the par value of such shares of Common
Stock), or, in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation
or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization
of the outstanding shares of Common Stock), or, in the case of any sale or conveyance to another corporation or entity of the
assets or other property of the Company as an entirety or substantially as an entirety, in connection with which the Company is
dissolved, the Registered Holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and
conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable
and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities
or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution
following any such sale or transfer, that the Registered Holder would have received if such Registered Holder had exercised his,
her or its Warrant(s) immediately prior to such event; and if any reclassification also results in a change in shares of Common
Stock covered by Sections 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4.
The provisions of this Section 4.4 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations,
sales or other transfers.

 

4.6         Notices
of Changes in Warrant. Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant,
the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from
such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a
Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1 – 4.5 the Company shall give written notice to each Registered
Holder, at the last address set forth for such Registered Holder in the Warrant Register, of the record date or the effective
date of the event. Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

 

     

     

    

 

4.7         Form
of Warrant. The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued
after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued
pursuant to this Warrant Agreement. However, the Company may, at any time, in its sole discretion, make any change in the form
of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued
or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

 

4.8         Notice
of Certain Transactions. In the event that the Company shall (a) offer to holders of all its Common Stock rights to subscribe
for or to purchase any securities convertible into shares of Common Stock or shares of stock of any class or any other securities,
rights or options, (b) issue any rights, options or warrants entitling all the holders of Common Stock to subscribe for shares
of Common Stock, or (c) make a tender offer, redemption offer or exchange offer with respect to the Common Stock, the Company
shall send to the Registered Holders a notice of such action or offer. Such notice shall be mailed to the Registered Holders at
their addresses as they appear in the Warrant Register, which shall specify the record date for the purposes of such dividend,
distribution or rights, or the date such issuance or event is to take place and the date of participation therein by the holders
of Common Stock, if any such date is to be fixed, and shall briefly indicate the effect of such action on the Common Stock and
on the number and kind of any other shares of stock and on other property, if any, and the number of shares of Common Stock and
other property, if any, issuable upon exercise of each Warrant and the Warrant Price after giving effect to any adjustment pursuant
to this Section 4 which would be required as a result of such action. Such notice shall be given as promptly as practicable after
the Company has taken any such action.

 

5.           Transfer
and Exchange of Warrants.

 

5.1         Transfer
of Warrants. Prior to the Detachment Date, the Warrants may be transferred or exchanged only together with the Unit in which
such Warrant is included, and only for the purpose of effecting, or in conjunction with, a transfer or exchange of such Unit.
Furthermore, each transfer of a Unit on the register relating to such Units shall operate also to transfer the Warrants included
in such Unit. From and after the Detachment Date, this Section 5.1 will have no further force and effect.

 

5.2         Registration
of Transfer. The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant into the Warrant
Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by
appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants
shall be issued and the old Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled shall be delivered by the
Warrant Agent to the Company from time to time upon the Company’s request.

 

     

     

    

 

5.3         Procedure
for Surrender of Warrants. Warrants may be surrendered to the Warrant Agent, together with a written request for exchange
or transfer, and, thereupon, the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the Registered
Holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that, in the event
a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and shall issue
new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such
transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

 

5.4         Fractional
Warrants. The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in
the issuance of a warrant certificate for a fraction of a warrant.

 

5.5         Service
Charges. No service charge shall be made for any exchange or registration of transfer of Warrants.

 

5.6         Warrant
Execution and Countersignature. The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the
terms of this Warrant Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company,
whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for
such purpose.

 

6.           Redemption.

 

6.1         Redemption.
Subject to the second sentence of this Section 6.1, all (and not less than all) of the outstanding Warrants may be redeemed, in
whole and not in part, at the option of the Company, at any time from and after the Warrants become exercisable, and prior to
their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $.01 per Warrant
(“Redemption Price”); provided that the last sales price of the Common Stock has been equal to or greater than
$16.00 per share (subject to adjustment for splits, dividends, recapitalizations and other similar events), for any twenty (20)
trading days within a thirty (30) trading day period ending on the third business day prior to the date on which notice of redemption
is given and provided further that there is a current registration statement in effect with respect to the shares of Common Stock
underlying the Warrants for each day in the aforementioned 30-day trading period and continuing each day thereafter until the
Redemption Date (defined below). For avoidance of doubt, if and when the warrants become redeemable by the Company under this
Section, the Company may exercise its redemption right, even if it is unable to register or qualify the Warrant Shares for sale
under all applicable state securities laws.

 

6.2         Date
Fixed for, and Notice of, Redemption. In the event the Company shall elect to redeem all of the Warrants, the Company shall
fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class
mail, postage prepaid, by the Company not less than 30 days prior to the date fixed for redemption to the Registered Holders of
the Warrants to be redeemed at their last addresses as they shall appear on the Warrant Register. Any notice mailed in the manner
herein provided shall be conclusively presumed to have been duly given, whether or not the Registered Holder received such notice.

 

     

     

    

 

6.3         Exercise
After Notice of Redemption. The Warrants may be exercised in accordance with Section 3 of this Warrant Agreement at any time
after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date;
provided that the Company may require the Registered Holder who desires to exercise the Warrant to elect cashless exercise as
set forth under Section 3.3.2, and such Registered Holder must exercise the Warrants on a cashless basis if the Company so requires.
On and after the Redemption Date, the Registered Holder of the Warrants shall have no further rights except to receive, upon surrender
of the Warrants, the Redemption Price.

 

6.4         No
Other Rights to Cash Payment. Except for a redemption in accordance with this Section 6, no Registered Holder of any Warrant
shall be entitled to any cash payment whatsoever from the Company in connection with the ownership, exercise or surrender of any
Warrant under this Warrant Agreement.

 

7.           Other
Provisions Relating to Rights of Registered Holders of Warrants.

 

7.1         No
Rights as Stockholder. A Warrant does not entitle the Registered Holder thereof to any of the rights of a stockholder of the
Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights
to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or the election of directors
of the Company or any other matter.

 

7.2         Lost,
Stolen Mutilated or Destroyed Warrants. If any Warrant is lost, stolen, mutilated or destroyed, the Company and the Warrant
Agent may, on such terms as to indemnity or otherwise as they may in their discretion impose (which terms shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor and date as the Warrant so
lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

7.3         Reservation
of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares
of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Warrant
Agreement.

 

7.4         Registration
of Common Stock. The Company agrees that as soon as practicable, but in no event later than thirty (30) business days after
the closing of a Business Combination, it shall use its best efforts to file with the SEC a registration statement for the registration
under the Act of the shares of Common Stock issuable upon exercise of the Warrants, and to cause the same to become effective
and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration
of the Warrants in accordance with the provisions of this Agreement. In addition, the Company agrees to use its best efforts to
register the shares of Common Stock issuable upon exercise of the Warrants under state blue sky laws, to the extent an exemption
is not available.

 

     

     

    

 

8.           Concerning
the Warrant Agent and Other Matters.

 

8.1         Payment
of Taxes. The Company will, from time to time, promptly pay all taxes and charges that may be imposed upon the Company or
the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company
shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

 

8.2         Resignation,
Consolidation, or Merger of Warrant Agent.

 

8.2.1      Appointment
of Successor Warrant Agent. The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged
from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the
office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint, in writing,
a successor Warrant Agent in place of the Warrant Agent. If the Company shall fail to make such appointment within a period of
30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the Registered Holder
of the Warrant (who shall, with such notice, submit his, her or its Warrant for inspection by the Company), then the Registered
Holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of
a successor Warrant Agent. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation
organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough
of Manhattan, City and State of New York, and be authorized under such laws to exercise corporate trust powers and subject to
supervision or examination by federal or state authorities. After appointment, any successor Warrant Agent shall be vested with
all the authority, powers, rights, immunities, duties and obligations of its predecessor Warrant Agent with like effect as if
originally named as Warrant Agent hereunder, without any further act or deed; but, if for any reason it becomes necessary or appropriate,
the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor
Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and, upon request of any successor
Warrant Agent, the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties and
obligations.

 

8.2.2      Notice
of Successor Warrant Agent. In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof
to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment.

 

8.2.3      Merger
or Consolidation of Warrant Agent. Any corporation into which the Warrant Agent may be merged or with which it may be consolidated
or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor
Warrant Agent under this Warrant Agreement without any further act on the part of the Company or the Warrant Agent.

 

     

     

    

 

8.3         Fees
and Expenses of Warrant Agent.

 

8.3.1      Remuneration.
The Company agrees to pay the Warrant Agent reasonable remuneration for its services as Warrant Agent hereunder and will reimburse
the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties
hereunder.

 

8.3.2      Further
Assurances. The Company agrees to perform, execute, acknowledge and deliver, or cause to be performed, executed, acknowledged
and delivered, all such further and other acts, instruments and assurances as may reasonably be required by the Warrant Agent
for the carrying out or performing of the provisions of this Warrant Agreement.

 

8.4         Liability
of Warrant Agent.

 

8.4.1      Reliance
on Company Statement. Whenever, in the performance of its duties under this Warrant Agreement, the Warrant Agent shall deem
it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be
conclusively proved and established by a statement signed by the Chief Executive Officer, Chief Financial Officer or Chairman
of the Board of the Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such statement for any action
taken or suffered in good faith by it pursuant to the provisions of this Warrant Agreement.

 

8.4.2      Indemnity.
The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees
to indemnify the Warrant Agent and hold it harmless against any and all liabilities, including judgments, costs and reasonable
counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Warrant Agreement, except as a result
of the Warrant Agent’s gross negligence, willful misconduct or bad faith.

 

8.4.3      Exclusions.
The Warrant Agent shall have no responsibility with respect to the validity of this Warrant Agreement or with respect to the validity
or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of
any covenant or condition contained in this Warrant Agreement or in any Warrant; nor shall it be responsible to make any adjustments
required under the provisions of Section 4 hereof or responsible for the manner, method or amount of any such adjustment or the
ascertaining of the existence of facts that would require any such adjustment; nor shall it, by any act hereunder, be deemed to
make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant
to this Warrant Agreement or any Warrant or as to whether any shares of Common Stock will when issued be valid and fully paid
and non-assessable.

 

8.5         Acceptance
of Agency. The Warrant Agent hereby accepts the agency established by this Warrant Agreement and agrees to perform the same
upon the terms and conditions herein set forth and, among other things, shall account promptly to the Company with respect to
Warrants exercised and concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the purchase
of shares of the Company’s Common Stock through the exercise of Warrants.

 

     

     

    

 

8.6         Waiver.
The Warrant Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”)
in or to any distribution of the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of
the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse,
reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

9.           Miscellaneous
Provisions.

 

9.1         Successors.
All the covenants and provisions of this Warrant Agreement by or for the benefit of the Company or the Warrant Agent shall bind
and inure to the benefit of their respective successors and assigns.

 

9.2         Notices.
Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the Registered
Holder of any Warrant to or on the Company shall be delivered by hand or sent by registered or certified mail or overnight courier
service, addressed (until another address is filed in writing by the Company with the Warrant Agent) as follows:

 

Chardan
Healthcare Acquisition Corp.

17 state Street, 21st Floor, 

New
York, NY 10004

 

with
a copy (which shall not constitute notice) to:

 

Loeb
& Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Mitchell S. Nussbaum, Esq.

 

Any
notice, statement or demand authorized by this Warrant Agreement to be given or made by the Registered Holder of any Warrant or
by the Company to or on the Warrant Agent shall be delivered by hand or sent by registered or certified mail or overnight courier
service, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental
Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

 

Any
notice, sent pursuant to this Warrant Agreement shall be effective, if delivered by hand, upon receipt thereof by the party to
whom it is addressed, if sent by overnight courier, on the next business day of the delivery to the courier, and if sent by registered
or certified mail on the third day after registration or certification thereof.

 

9.3         Applicable
Law. The validity, interpretation, and performance of this Warrant Agreement and of the Warrants shall be governed in all
respects by the laws of the State of New York, without giving effect to conflict of laws. The Company and the Warrant Agent hereby
agree that any action, proceeding or claim against either of them arising out of or relating in any way to this Warrant Agreement
shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company and the Warrant
Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such
process or summons to be served upon the Company or the Warrant Agent may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof.
Such mailing shall be deemed personal service and shall be legal and binding upon the party receiving such service in any action,
proceeding or claim.

 

     

     

    

 

9.4         Persons
Having Rights under this Warrant Agreement. Nothing in this Warrant Agreement expressed and nothing that may be implied from
any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than
the parties hereto and the Registered Holders of the Warrants and, for the purposes of Sections 9.2 hereof, the Representative
and the underwriters, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition,
stipulation, promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this
Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the
Registered Holders of the Warrants.

 

9.5         Examination
of the Warrant Agreement. A copy of this Warrant Agreement shall be available at all reasonable times at the office of the
Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the Registered Holder of any Warrant.
The Warrant Agent may require any such Registered Holder to submit his, her or its Warrant for inspection.

 

9.6         Counterparts-
Facsimile Signatures. This Warrant Agreement may be executed in any number of counterparts, and each of such counterparts
shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same instrument.
Facsimile signatures shall constitute original signatures for all purposes of this Warrant Agreement.

 

9.7         Effect
of Headings. The section headings herein are for convenience only and are not part of this Warrant Agreement and shall not
affect the interpretation thereof

 

9.8         Amendments.
This Warrant Agreement and any Warrant certificate may be amended by the parties hereto by executing a supplemental warrant agreement
(a “Supplemental Agreement”), without the consent of any of the Warrant Holders, for the purpose of (i) curing
any ambiguity, or curing, correcting or supplementing any defective provision contained herein, or making any other provisions
with respect to matters or questions arising under this Warrant Agreement that is not inconsistent with the provisions of this
Warrant Agreement or the Warrant certificates, (ii) evidencing the succession of another corporation to the Company and the assumption
by any such successor of the covenants of the Company contained in this Warrant Agreement and the Warrants, (iii) evidencing and
providing for the acceptance of appointment by a successor Warrant Agent with respect to the Warrants, (iv) adding to the covenants
of the Company for the benefit of the Registered Holders or surrendering any right or power conferred upon the Company under this
Warrant Agreement, or (viii) amending this Warrant Agreement and the Warrants in any manner that the Company may deem to be necessary
or desirable and that will not adversely affect the interests of the Registered Holders in any material respect. All other modifications
or amendments to this Warrant Agreement, including any amendment to increase the Warrant Price or shorten the Exercise Period,
shall require the written consent of the Registered Holders of a majority of the then outstanding Warrants. Notwithstanding the
foregoing, the Company may extend the duration of the Exercise Period in accordance with Section 3.2 without such consent.

 

     

     

    

 

9.9         Severability.
This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Warrant Agreement or of any other term or provision hereof. Furthermore, in
lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid
and enforceable.

 

[SIGNATURE
PAGE FOLLOWS]

 

     

     

    

 

IN
WITNESS WHEREOF, this Warrant Agreement has been duly executed by the parties hereto as of the day and year first above written.

	 	 	 
	 	CHARDAN
    HEALTHCARE ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Jonas     Grossman
	 	 	Name: Jonas
    Grossman
	 	 	Title:   President
	 	 
	 	CONTINENTAL
    STOCK TRANSFER & TRUST COMPANY
	 	 
	 	By:	/s/
    Kevin     Jennigs
	 	 	Name: Kevin
    Jennings
	 	 	Title:   Vice
    President

 

[Signature
Page to Warrant Agreement]Exhibit 10.1

 

 

	 	December 13, 2018

 

Chardan Healthcare Acquisition
Corp.

17 State Street, 21st Floor

New York, NY 10004

 

Chardan Capital Markets,
LLC

17 State Street, 21st Floor

New York, NY 10004

 

		Re:	Initial Public Offering

 

Gentlemen:

 

This letter is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”) and
Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named in Schedule
A thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of Common Stock of the Company,
par value $0.001 per share (the “Common Stock”), and one warrant, with each warrant being exercisable
to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”). Certain
capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.       (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)   The undersigned
hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining
net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and the underlying Common
Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any reason whatsoever.

 

(c)   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 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 vendor or other person has executed an agreement waiving any claims against the Trust Fund.

 

(d)   In
the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not
to seek repayment for such expenses.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            The
undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Private Warrants will be
subject to the transfer restrictions described in the Subscription Agreement relating to the undersigned’s Private Warrants.

 

5.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

6.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

     

     

    

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

8.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

9.            The
undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished to the Company and the Representative
is true and accurate in all material respects. The undersigned represents and warrants that, except as disclosed in the undersigned’s
Director and Officer Questionnaire:

 

		(a)	he/she/it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i)
him/her/it or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii)
any corporation or business association of which he/she/it was an executive officer at or within two years before the time of such
filing;

 

		(b)	he/she/it has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property,
or any such partnership;

 

		(c)	he/she/it has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/ has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding
traffic violations and minor offenses);

 

     

     

    

 

		(e)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any court of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a
futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of
any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

		(f)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any federal or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any
activity described in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal
or state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
or vacated;

 

		(h)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal
commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or
vacated;

 

		(i)	he/she/it has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree
or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities
or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary
or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud
or fraud in connection with any business entity;

 

		(j)	he/she/it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated,
or any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
has disciplinary authority over its members or persons associated with a member;

 

     

     

    

 

		(k)	he/she/it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security;
(ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter,
broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it was never subject to a final order of a state securities commission (or an agency of officer of a state performing
like functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance
commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or
the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
or deceptive conduct;

 

		(m)	he/she/it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time
of such sale, restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection
with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of
the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor
of purchasers of securities;

 

		(n)	he/she/it has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing
a future violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to,
Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the
Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it has never been named as an underwriter in any registration statement or Regulation A offering statement filed with
the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently,
the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it has never been subject to a United States Postal Service false representation order, or is currently subject to a
temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
a scheme or device for obtaining money or property through the mail by means of false representations;

 

     

     

    

 

		(q)	he/she/it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like
functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
(or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National
Credit Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority,
agency or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association
or credit union activities;

 

		(r)	he/she/it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act
of 1934 (the “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers
Act”) that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer
or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties
on, such person; or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any
penny stock; and

 

		(s)	he/she/it has never been suspended or expelled from membership in, or suspended or barred from association with a member of,
a securities self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated
securities association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of
trade.

 

10.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Managing Member of the Company.

 

11.            The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

12.            The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

     

     

    

 

13.            In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

14.            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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an
Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants purchased
in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust
Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

15.            Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

If to the Representative:

 

Chardan Capital Markets LLC

17 State Street

New York, NY 10004

Attn: George Kaufman

Facsimile: (646) 465-9039

 

     

     

    

 

Copy (which copy shall not constitute
notice) to:

 

Schiff Hardin LLP

901 K Street, Suite 700

Washington, DC 20001

Attn: Ralph V. De Martino, Esq. and
Cavas Pavri, Esq.

Facsimile: (202) 778-6400

 

If to the Company:

 

Chardan Healthcare Acquisition Corp.

17 State Street, Suite 1600

New York, NY 10004

Attn: Jonas Grossman

Facsimile:

 

Copy (which copy shall not constitute
notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq. and
Giovanni Caruso

Facsimile: (212) 504-3013

 

16.            No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

17.            The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

[Signature page to follow]

 

     

     

    

 

	 	CHRADAN INVESTMENTS, LLC
	 	 	 
	 	By:	/s/ Jonas Grossman
	 	 	Name: Jonas Grossman
	 	 	Title: Managing Member

 

[Signature page to Insider Letter]

 

     

     

    

 

 

	 	December 13, 2018

 

Chardan Healthcare Acquisition
Corp.

17 State Street, 21st Floor

New York, NY 10004

 

Chardan Capital Markets,
LLC

17 State Street, 21st Floor

New York, NY 10004

 

		Re:	Initial Public Offering

 

Gentlemen:

 

 This letter is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”) and
Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named in Schedule
A thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of Common Stock of the Company,
par value $0.001 per share (the “Common Stock”), and one warrant, with each warrant being exercisable
to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”). Certain
capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b) The undersigned
hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining
net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and the underlying Common
Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned agrees to be the Director of the Company until the earlier of the consummation by the Company of a 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
biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished
to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that,
except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i)
him/her/it or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii)
any corporation or business association of which he/she/it was an executive officer at or within two years before the time of such
filing;

 

		(b)	he/she/it has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property,
or any such partnership;

 

		(c)	he/she/it has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/ has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding
traffic violations and minor offenses);

 

		(e)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any court of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a
futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of
any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any federal or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any
activity described in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal
or state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
or vacated;

 

		(h)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal
commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or
vacated;

 

		(i)	he/she/it has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree
or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities
or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary
or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud
or fraud in connection with any business entity;

 

		(j)	he/she/it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated,
or any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
has disciplinary authority over its members or persons associated with a member;

 

		(k)	he/she/it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security;
(ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter,
broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it was never subject to a final order of a state securities commission (or an agency of officer of a state performing
like functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance
commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or
the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
or deceptive conduct;

 

     

     

    

 

		(m)	he/she/it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time
of such sale, restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection
with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of
the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor
of purchasers of securities;

 

		(n)	he/she/it has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing
a future violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to,
Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the
Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it has never been named as an underwriter in any registration statement or Regulation A offering statement filed with
the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently,
the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it has never been subject to a United States Postal Service false representation order, or is currently subject to a
temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
a scheme or device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like
functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
(or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National
Credit Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority,
agency or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association
or credit union activities;

 

     

     

    

 

		(r)	he/she/it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act
of 1934 (the “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers
Act”) that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer
or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties
on, such person; or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any
penny stock; and

 

		(s)	he/she/it has never been suspended or expelled from membership in, or suspended or barred from association with a member of,
a securities self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated
securities association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of
trade.

 

9.              The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Director of the Company.

 

10.            The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.            The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.            In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an
Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants purchased
in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust
Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

14.            Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

If to the Representative:

 

Chardan Capital Markets LLC

17 State Street

New York, NY 10004

Attn: George Kaufman

Facsimile: (646) 465-9039

 

Copy (which copy shall not constitute
notice) to:

 

Schiff Hardin LLP

901 K Street, Suite 700

Washington, DC 20001

Attn: Ralph V. De Martino, Esq. and
Cavas Pavri, Esq.

Facsimile: (202) 778-6400

 

If to the Company:

 

Chardan Healthcare Acquisition Corp.

17 State Street, Suite 1600

New York, NY 10004

Attn: Jonas Grossman

Facsimile:

 

     

     

    

 

Copy (which copy shall not constitute
notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq. and
Giovanni Caruso

Facsimile: (212) 504-3013

 

15.            No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

16.            The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

[Signature page to follow]

 

     

     

    

 

	 	Elliot Gnedy
	 	Print Name of Insider
	 	 
	 	/s/ Elliot Gnedy
	 	Signature

 

[Signature page to Insider Letter]

 

     

     

    

 

	 	December
13, 2018 

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan
Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

	Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and
the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned agrees to be the Director of the Company until the earlier of the consummation by the Company of a 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
biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished
to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that,
except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Director of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

  

	 	Eric Kusseluk M.D.  
	 	Print
Name of Insider
	 	 
	 	/s/ Eric Kusseluk  
	 	Signature

  

[Signature
page to Insider Letter]

 

     

     

    

 

 

	 	December 13, 2018 

  

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

	Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and
the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned agrees to be the Chairman of the Board of the Company until the earlier of the consummation by the Company of a 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 biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire
previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents
and warrants that, except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Chairman of the Board of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

 

	 	Gbola
Amusa 
	 	Print Name of Insider
	 	 
	 	/s/
Gbola Amusa 
	 	Signature

  

[Signature
page to Insider Letter]

 

     

     

    

 

	 	December 13, 2018

  

Chardan Healthcare Acquisition
Corp.

17 State Street, 21st Floor

New York, NY 10004

 

Chardan Capital Markets,
LLC 

17 State Street, 21st Floor

New York, NY 10004

 

 Re:          Initial
Public Offering

 

Gentlemen:

 

 This letter is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”) and
Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named in Schedule
A thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of Common Stock of the Company,
par value $0.001 per share (the “Common Stock”), and one warrant, with each warrant being exercisable
to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”). Certain
capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.             (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b) The undersigned
hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining
net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and the underlying Common
Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.             The
undersigned agrees to be the Chief Financial Officer of the Company until the earlier of the consummation by the Company of a 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 biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire
previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents
and warrants that, except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it has never had a petition under the federal
bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it or any partnership in which he/she/it was
a general partner at or within two years before the time of filing; or (ii) any corporation or business association of which he/she/it
was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it has never had a receiver, fiscal agent or
similar officer been appointed by a court for his/her/its business or property, or any such partnership;

 

		(c)	he/she/it has never been convicted of fraud in a civil
or criminal proceeding;

 

		(d)	he/she/it/ has never been convicted in a criminal
proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

		(e)	he/she/it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining or otherwise limiting him/her/it from (i) acting as a futures commission merchant, introducing broker, commodity trading
advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures
Trading Commission (“CFTC”) or an associated person of any of the foregoing, or as an investment adviser, underwriter,
broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and
loan association or insurance company, or from engaging in or continuing any conduct or practice in connection with any such activity;
or (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection with the purchase
or sale of any security or commodity or in connection with any violation of federal or state securities or federal commodities
laws;

 

     

     

    

 

		(f)	he/she/it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or
otherwise limiting for more than 60 days his/her/its right to engage in any activity described in 9(e)(i) above, or to be associated
with persons engaged in any such activity;

 

		(g)	he/she/it has never been found by a court of competent
jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, where the judgment in such
civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

		(h)	he/she/it has never been found by a court of competent
jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment in such civil action
or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it has never been the subject of, or a party
to, any Federal or State judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended or
vacated, relating to an alleged violation of (i) any Federal or State securities or commodities law or regulation, (ii) any law
or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist order, or removal
or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

 

		(j)	he/she/it has never been the subject of, or party
to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization, any registered
entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
associated with a member;

 

		(k)	he/she/it has never been convicted of any felony or
misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with the
SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment
advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it was never subject to a final order of a
state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises
or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing
like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that is based on
a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

     

     

    

 

		(m)	he/she/it has never been subject to any order, judgment
or decree of any court of competent jurisdiction, that, at the time of such sale, restrained or enjoined him/her/it from engaging
or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment adviser or paid solicitor of purchasers of securities;

 

		(n)	he/she/it has never been subject to any order of the
SEC that orders him/her/it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud
provision of the federal securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b)
of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers Act or any other rule or regulation thereunder;
or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it has never been named as an underwriter in
any registration statement or Regulation A offering statement filed with the SEC that was the subject of a refusal order, stop
order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation or proceeding to determine
whether a stop order or suspension order should be issued;

 

		(p)	he/she/it has never been subject to a United States
Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary injunction
with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property
through the mail by means of false representations;

 

		(q)	he/she/it is not subject to a final order of a state
securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or examines
banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like
functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that bars the undersigned
from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging in the business
of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

     

     

    

 

		(r)	he/she/it is not subject to an order of the SEC entered
pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the “Exchange Act”) or section 203(e)
or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that: (i) suspends or revokes the undersigned’s
registration as a broker, dealer, municipal securities dealer or investment adviser; (ii) places limitations on the activities,
functions or operations of, or imposes civil money penalties on, such person; or (iii) bars the undersigned from being associated
with any entity or from participating in the offering of any penny stock; and

 

		(s)	he/she/it has never been suspended or expelled from
membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g., a registered
national securities exchange or a registered national or affiliated securities association) for any act or omission to act constituting
conduct inconsistent with just and equitable principles of trade.

 

9.             The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Chief Financial Officer of the Company.

 

10.           The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.           The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.           In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an
Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants purchased
in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust
Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

14.           Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

If to the Representative:

 

Chardan Capital Markets LLC

17 State Street

New York, NY 10004

Attn: George Kaufman

Facsimile: (646) 465-9039

 

Copy (which copy shall not constitute
notice) to:

 

Schiff Hardin LLP

901 K Street, Suite 700

Washington, DC 20001

Attn: Ralph V. De Martino, Esq. and
Cavas Pavri, Esq.

Facsimile: (202) 778-6400

 

If to the Company:

 

Chardan Healthcare Acquisition Corp.

17 State Street, Suite 1600

New York, NY 10004

Attn: Jonas Grossman

Facsimile:

 

     

     

    

 

Copy (which copy shall not constitute
notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq. and
Giovanni Caruso

Facsimile: (212) 504-3013

 

15.           No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

16.           The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

[Signature page to follow]

 

     

     

    

 

	 	George Kaufman
	 	Print Name of Insider
	 	 
	 	/s/ George Kaufman 
	 	Signature

 

[Signature page to Insider Letter]

 

     

     

    

 

	 	December 13, 2018

  

Chardan Healthcare Acquisition
Corp.

17 State Street, 21st Floor

New York, NY 10004

 

Chardan Capital Markets,
LLC 

17 State Street, 21st Floor

New York, NY 10004

 

 Re:          Initial
Public Offering

 

Gentlemen:

 

 This letter is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”) and
Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named in Schedule
A thereto (the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of Common Stock of the Company,
par value $0.001 per share (the “Common Stock”), and one warrant, with each warrant being exercisable
to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”). Certain
capitalized terms used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.             (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b) The undersigned
hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any remaining
net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and the underlying Common
Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and consummating
a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.             The
undersigned agrees to be the President of the Company until the earlier of the consummation by the Company of a 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 biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire
previously furnished to the Company and the Representative is true and accurate in all material respects. The undersigned represents
and warrants that, except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it has never had a petition under the federal
bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it or any partnership in which he/she/it was
a general partner at or within two years before the time of filing; or (ii) any corporation or business association of which he/she/it
was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it has never had a receiver, fiscal agent or
similar officer been appointed by a court for his/her/its business or property, or any such partnership;

 

		(c)	he/she/it has never been convicted of fraud in a civil
or criminal proceeding;

 

		(d)	he/she/it/ has never been convicted in a criminal
proceeding or named the subject of a pending criminal proceeding (excluding traffic violations and minor offenses);

 

		(e)	he/she/it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily
enjoining or otherwise limiting him/her/it from (i) acting as a futures commission merchant, introducing broker, commodity trading
advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures
Trading Commission (“CFTC”) or an associated person of any of the foregoing, or as an investment adviser, underwriter,
broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and
loan association or insurance company, or from engaging in or continuing any conduct or practice in connection with any such activity;
or (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection with the purchase
or sale of any security or commodity or in connection with any violation of federal or state securities or federal commodities
laws;

 

     

     

    

 

		(f)	he/she/it has never been the subject of any order,
judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or
otherwise limiting for more than 60 days his/her/its right to engage in any activity described in 9(e)(i) above, or to be associated
with persons engaged in any such activity;

 

		(g)	he/she/it has never been found by a court of competent
jurisdiction in a civil action or by the SEC to have violated any federal or state securities law, where the judgment in such
civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;

 

		(h)	he/she/it has never been found by a court of competent
jurisdiction in a civil action or by the CFTC to have violated any federal commodities law, where the judgment in such civil action
or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it has never been the subject of, or a party
to, any Federal or State judicial or administrative order, judgment, decree or finding, not subsequently reversed, suspended or
vacated, relating to an alleged violation of (i) any Federal or State securities or commodities law or regulation, (ii) any law
or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and desist order, or removal
or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

 

		(j)	he/she/it has never been the subject of, or party
to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory organization, any registered
entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
associated with a member;

 

		(k)	he/she/it has never been convicted of any felony or
misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving the making of any false filing with the
SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment
advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it was never subject to a final order of a
state securities commission (or an agency of officer of a state performing like functions); a state authority that supervises
or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing
like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that is based on
a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive conduct;

 

     

     

    

 

		(m)	he/she/it has never been subject to any order, judgment
or decree of any court of competent jurisdiction, that, at the time of such sale, restrained or enjoined him/her/it from engaging
or continuing to engage in any conduct or practice: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment adviser or paid solicitor of purchasers of securities;

 

		(n)	he/she/it has never been subject to any order of the
SEC that orders him/her/it to cease and desist from committing or causing a future violation of: (i) any scienter-based anti-fraud
provision of the federal securities laws, including, but not limited to, Section 17(a)(1) of the Securities Act, Section 10(b)
of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers Act or any other rule or regulation thereunder;
or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it has never been named as an underwriter in
any registration statement or Regulation A offering statement filed with the SEC that was the subject of a refusal order, stop
order, or order suspending the Regulation A exemption, or is, currently, the subject of an investigation or proceeding to determine
whether a stop order or suspension order should be issued;

 

		(p)	he/she/it has never been subject to a United States
Postal Service false representation order, or is currently subject to a temporary restraining order or preliminary injunction
with respect to conduct alleged by the United States Postal Service to constitute a scheme or device for obtaining money or property
through the mail by means of false representations;

 

		(q)	he/she/it is not subject to a final order of a state
securities commission (or an agency of officer of a state performing like functions); a state authority that supervises or examines
banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state performing like
functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration that bars the undersigned
from: (i) association with an entity regulated by such commission, authority, agency or officer; (ii) engaging in the business
of securities, insurance or banking; or (iii) engaging in savings association or credit union activities;

 

     

     

    

 

		(r)	he/she/it is not subject to an order of the SEC entered
pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the “Exchange Act”) or section 203(e)
or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”) that: (i) suspends or revokes the undersigned’s
registration as a broker, dealer, municipal securities dealer or investment adviser; (ii) places limitations on the activities,
functions or operations of, or imposes civil money penalties on, such person; or (iii) bars the undersigned from being associated
with any entity or from participating in the offering of any penny stock; and

 

		(s)	he/she/it has never been suspended or expelled from
membership in, or suspended or barred from association with a member of, a securities self-regulatory organization (e.g., a registered
national securities exchange or a registered national or affiliated securities association) for any act or omission to act constituting
conduct inconsistent with just and equitable principles of trade.

 

9.             The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as President of the Company.

 

10.           The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.           The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.           In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an
Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the shares
of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants purchased
in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii) “Trust
Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s IPO will be deposited.

 

14.           Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

If to the Representative:

 

Chardan Capital Markets LLC

17 State Street

New York, NY 10004

Attn: George Kaufman

Facsimile: (646) 465-9039

 

Copy (which copy shall not constitute
notice) to:

 

Schiff Hardin LLP

901 K Street, Suite 700

Washington, DC 20001

Attn: Ralph V. De Martino, Esq. and
Cavas Pavri, Esq.

Facsimile: (202) 778-6400

 

If to the Company:

 

Chardan Healthcare Acquisition Corp.

17 State Street, Suite 1600

New York, NY 10004

Attn: Jonas Grossman

Facsimile:

 

     

     

    

 

Copy (which copy shall not constitute
notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq. and
Giovanni Caruso

Facsimile: (212) 504-3013

 

15.           No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

16.           The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

[Signature page to follow]

 

     

     

    

 

	 	Jonas Grossman
	 	Print Name of Insider
	 	 
	 	/s/ Jonas Grossman
	 	Signature

 

[Signature page to Insider Letter]

 

     

     

    

 

 

	 	December
13, 2018 

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

		Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and
the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned agrees to be the Director of the Company until the earlier of the consummation by the Company of a 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
biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished
to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that,
except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Director of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

 

	 	Matthew Rossen
    
	 	Print Name of Insider
	 	 
	 	/s/ Matthew
    Rossen
	 	Signature

  

[Signature
page to Insider Letter]

 

     

     

    

 

 

	 	December 13, 2018 

  

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

 

		Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and
the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

  

8.            The undersigned agrees to be the Director of the Company until the earlier of the consummation by the Company of a 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 biography 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.  The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished to the Company and the Representative is true and accurate in all material respects.  The undersigned represents and warrants that, except as disclosed in the undersigned’s Director and Officer Questionnaire:	

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement and to serve as Director of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

   

	 	Michael
Rice
	 	Print Name of Insider
	 	 
	 	/s/
Michael
Rice
	 	Signature

  

[Signature
page to Insider Letter]

 

     

     

    

 

	 	December
13, 2018 

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

		Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, Private
Warrants (and the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may
have in the future as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse
against the Trust Fund for any reason whatsoever. The undersigned acknowledges and agrees that there will be no distribution from
the Trust Fund with respect to any Common Stock underlying the Private Warrants, all rights of which will terminate on the Company’s
liquidation.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished to the Company and the Representative
is true and accurate in all material respects. The undersigned represents and warrants that, except as disclosed in the undersigned’s
Director and Officer Questionnaire:

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

     

     

    

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Managing Member of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

 

	 	MOUNTAIN WOOD, LLC
	 	 	 
	 	BY:	/s/ Jonas Grossman
	 	 	Name: Jonas Grossman
	 	 	Title:   Managing Member

 

[Signature
page to Insider Letter]

 

     

     

    

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND
MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION
OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY NOTE

 

	Principal Amount: $500,000	Dated as of 18, 2018

 

Chardan Healthcare Acquisition Corp., a
Delaware corporation (the “Maker”), promises to pay to the order of Chardan Investments, LLC or its registered
assigns or successors in interest (the “Payee”) the principal sum of five hundred thousand dollars ($500,000)
in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be
made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee
may from time to time designate by written notice in accordance with the provisions of this Note.

 

		1.	Principal. The principal balance of this Promissory Note (this “Note”) shall be payable promptly
after the date on which the Maker consummates an initial business combination, as described in its initial public offering prospectus
dated December 13, 2018. The principal balance may be prepaid at any time.

 

		2.	Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

		3.	Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection
of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of
any late charges and finally to the reduction of the unpaid principal balance of this Note.

 

		4.	Events of Default. The following shall constitute an event of default (“Event of Default”):

 

		(a)	Failure to Make Required Payments. Failure by Maker to pay the principal of this Note within five (5) business days
following the date when due.

 

		(b)	Voluntary Liquidation, Etc. The commencement by Maker of a proceeding relating to its bankruptcy, insolvency, reorganization,
rehabilitation or other similar action, or the consent by it to the appointment of, or taking possession by, a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) for Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

     

     

    

 

		(c)	Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises
in respect of maker in an involuntary case under any applicable bankruptcy, insolvency or similar law, for the appointing of a
receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) for Maker or for any substantial part of
its property, or ordering the winding-up or liquidation of the affairs of Maker, and the continuance of any such decree or order
unstayed and in effect for a period of 60 consecutive days.

 

		5.	Remedies.

 

		(a)	Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare
this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable
thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which
are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

		(b)	Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of this Note,
and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

		6.	Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand,
notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings
instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future
laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment,
levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment;
and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of
execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

		7.	Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default,
or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability
of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may
be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

     

     

    

 

		8.	Notices. Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt
requested, (ii) personally delivered, (iii) dispatched by any form of private or governmental express mail or delivery service
providing receipted delivery or (iv) sent by facsimile or (v) to the following addresses or to such other address as either party
may designate by notice in accordance with this Section:

 

If too Maker:

Chardan Healthcare Acquisition Corp.

17 State Street, 21st Floor

New York, NY 10004

Attn: Jonas Grossman

 

If to Payee:

 

Chardan Investments, LLC

17 State Street, 21st Floor

New York, NY 10004

 

Notice shall be deemed given on the earlier
of (i) actual receipt by the receiving party, (ii) the date shown on a facsimile transmission confirmation, (iii) the date reflected
on a signed delivery receipt, or (iv) two (2) Business Days following tender of delivery or dispatch by express mail or delivery
service.

 

		9.	Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT
OF LAW PROVISIONS THEREOF.

 

		10.	Jurisdiction. The courts of New York have exclusive jurisdiction to settle any dispute arising out of or in connection
with this agreement (including a dispute relating to any non-contractual obligations arising out of or in connection with this
agreement) and the parties submit to the exclusive jurisdiction of the courts of New York.

 

		11.	Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

		12.	Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest
or claim of any kind (“Claim”) in or to any amounts contained in the trust account in which the proceeds of
the initial public offering (the “IPO”) conducted by the Maker and the proceeds of the sale of securities in
a private placement to occur prior to the effectiveness of the IPO, as described in greater detail in the registration statement
and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, will be placed, and hereby agrees
not to seek recourse, reimbursement, payment or satisfaction for any Claim from the trust account or any distribution therefrom
for any reason whatsoever.

 

		13.	Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written
consent of the Maker and the Payee.

 

     

     

    

 

		14.	Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto
(by operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without
the required consent shall be void.

 

		15.	Further Assurance. The Maker shall, at its own cost and expense, execute and do (or procure to be executed and done
by any other necessary party) all such deeds, documents, acts and things as the Payee may from time to time require as may be necessary
to give full effect to this Promissory Note.

 

IN WITNESS WHEREOF, Maker, intending to be legally bound hereby,
has caused this Note to be duly executed on the day and year first above written.

 

	 	CHARDAN HEALTHCARE ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Jonas Grossman
	 	 	Name: Jonas Grossman
	 	 	Title:   President

 

[Signature Page to Promissory Note]

 

     

     

    

 

	 	December
13, 2018 

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, 21st Floor 

New
York, NY 10004

 

Chardan Capital Markets, LLC 

17
State Street, 21st Floor 

New
York, NY 10004

 

		Re:	Initial
Public Offering

 

Gentlemen:

 

 This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between Chardan Healthcare Acquisition Corp., a Delaware corporation (the “Company”)
and Chardan Capital Markets LLC, as representative (the “Representative”) of the Underwriters named
in Schedule A thereto (the “Underwriters”), relating to an underwritten initial public offering (the
“IPO”) of the Company’s units (the “Units”), each comprised of one share
of Common Stock of the Company, par value $0.001 per share (the “Common Stock”), and one warrant, with
each warrant being exercisable to purchase one-half of one share of Common Stock at a price of $11.50 per full share (“Warrant”).
Certain capitalized terms used herein are defined in paragraph 14 hereof.

 

In
order to induce the Company and the Underwriters 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 as a shareholder of the Company, 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 of Common Stock
beneficially owned by him, her or it, whether acquired before, in or after the IPO, in favor of such Business Combination.

 

2.            (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the Company’s
IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and distributed to the holders
of IPO Shares and (ii) cause the Company to liquidate as soon as reasonably practicable.

 

     

     

    

 

(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares, (and
the underlying Common Stock) (“Claim”) and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund
for any reason whatsoever.

 

3.            The
undersigned will escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company.

 

4.            In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

5.            The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, 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 that such Business Combination is fair to the Company’s unaffiliated shareholders
from a financial point of view.

 

6.            Neither
the undersigned, any member of the family of the undersigned, nor 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 connection with, the consummation
of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the undersigned shall be entitled
to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying, investigating and
consummating a Business Combination.

 

7.            Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

     

     

    

 

8.            The
undersigned agrees to be the Director of the Company until the earlier of the consummation by the Company of a 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
biography 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. The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished
to the Company and the Representative is true and accurate in all material respects. The undersigned represents and warrants that,
except as disclosed in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it
has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any corporation
or business association of which he/she/it was an executive officer at or within two years before the time of such filing;

 

		(b)	he/she/it
has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property, or any
such partnership;

 

		(c)	he/she/it
has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/
has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);

 

		(e)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of any of
the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

     

     

    

 

		(f)	he/she/it
has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or
state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity described
in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or
vacated;

 

		(h)	he/she/it
has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;

 

		(i)	he/she/it
has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or commodities
law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited
to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and
desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud or fraud in connection
with any business entity;

 

		(j)	he/she/it
has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any self-regulatory
organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member;

 

		(k)	he/she/it
has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it
was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative, or deceptive
conduct;

 

     

     

    

 

		(m)	he/she/it
has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such sale,
restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection with the
purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct
of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers
of securities;

 

		(n)	he/she/it
has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Advisers
Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it
has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC that
was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the subject
of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it
has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary restraining
order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it
is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or
an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit
Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority, agency
or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association or credit
union activities;

 

     

     

    

 

		(r)	he/she/it
is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934 (the
“Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers Act”)
that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer or investment
adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties on, such person;
or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and

 

		(s)	he/she/it
has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.

 

9.            The
undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement
and to serve as Director of the Company.

 

10.          The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

11.          The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated Certificate
of Incorporation 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.

 

12.          In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

     

     

    

 

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 shareholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by
an Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
“Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

14.          Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

If
to the Representative:

 

Chardan
Capital Markets LLC 

17
State Street 

New
York, NY 10004 

Attn:
George Kaufman 

Facsimile:
(646) 465-9039

 

Copy
(which copy shall not constitute notice) to:

 

Schiff
Hardin LLP 

901
K Street, Suite 700 

Washington,
DC 20001 

Attn:
Ralph V. De Martino, Esq. and Cavas Pavri, Esq. 

Facsimile:
(202) 778-6400

 

If
to the Company:

 

Chardan
Healthcare Acquisition Corp. 

17
State Street, Suite 1600 

New
York, NY 10004 

Attn:
Jonas Grossman 

Facsimile:

 

     

     

    

 

Copy
(which copy shall not constitute notice) to:

 

Loeb
& Loeb LLP 

345
Park Avenue 

New
York, NY 10154 

Attn:
Mitchell S. Nussbaum, Esq. and Giovanni Caruso 

Facsimile:
(212) 504-3013

 

15.          No
party hereto may assign either this letter agreement or any of its 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. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

16.          The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO.

 

[Signature
page to follow]

 

     

     

    

 

	 	Richard Giroux
	 	Print
Name of Insider
	 	 
	 	/s/ Richard Giroux
	 	Signature

 

[Signature
page to Insider Letter]

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