Document:

EX-10.15

 Exhibit 10.15 

[***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
 DATED
DECEMBER 18, 2018 
 (1) TCR2 THERAPEUTICS INC. 

- and - 
 (2) CELL
THERAPY CATAPULT LIMITED 
  
  

COLLABORATION AGREEMENT 
  

 
  

 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL
SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

 THIS COLLABORATION AGREEMENT (the “Agreement) is dated the 18th of December 2018 (the “Effective Date”) 
 BETWEEN 

 

	(1)	 TCR2 Therapeutics Inc., a company
incorporated in under the laws of the State of Delaware and located at 100 Binney Street, Suite 710, Cambridge, MA 02142, US (“COLLABORATOR”); and 

 

	(2)	 Cell Therapy Catapult Limited, trading as Cell and Gene Therapy Catapult, a company incorporated and
registered in England & Wales with company number 07964711 whose registered office is at 12th Floor Tower Wing, Guys Hospital, Great Maze Pond, London, SE1 9RT, United Kingdom (the “Catapult”). 

BACKGROUND 
  

	(A)	 Catapult’s purpose in commissioning the cell and gene therapy manufacturing centre is to further its
broader aims within the UK to develop novel technologies, processes, supply chains, facilities, skills, and working practices for simultaneous and cost effective large-scale manufacture and distribution of multiple ATMP products.

  

	(B)	 COLLABORATOR is developing certain cell and gene therapy products. As part of this activity COLLABORATOR wishes
to use the Centre in order to further develop and scale up manufacturing processes and capability for cell and gene therapy products. 

  

	(C)	 COLLABORATOR and Catapult would each like to collaborate further with the other as further set forth in this
Agreement (“Project” or “Collaboration”, as further described in the work streams set out at Schedule 1). 

  

	(D)	 Other parties who collaborate with the Catapult and occupy the Centre in the same way will be referred to as a
“Collaborator” or “Other Collaborator(s)” (and together with COLLABORATOR as “All Collaborators”). 

  

	(E)	 This document aims to record the contributions of each party with respect to this Agreement, and the terms
under which COLLABORATOR and Catapult will work together within the Centre. 

 OPERATIVE PROVISIONS 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 In this Agreement, the following words will have the following meanings: 

 

			
	“Accompanied Access Areas”	  	means the areas of the Centre marked yellow on the Plans which are accessible by All Collaborators, but on condition such access is in the company of Catapult personnel.
		
	“Activity Related Inputs”	  	means the inputs provided by Catapult set out at Clause 9.2.
		
	“Activity Related Input Contributions”	  	means the financial contribution made by COLLABORATOR with respect to the provision of the Activity Related Inputs, and as described in Clause 8.4.3.
		
	“Additional Inputs”	  	means inputs COLLABORATOR requires Catapult to contribute to the Project, other than Activity Related Inputs and Integral Inputs, which will be arranged through the completion of an Additional Input Agreement in the form set out at
Schedule 16 (“Additional Input Agreement”).
		
	“Affiliate”	  	in relation to a Party, means any person that Controls, is Controlled by, or is under common Control with that Party.

  
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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

			
	“Applicable Law”	  	 means any:
  

(a)   statute, statutory instrument, by-law, order,
regulation, directive, treaty, decree, decision of the European Council or law;
  

(b)   legally binding rule, policy, guidance or recommendation issued by any governmental, statutory
or regulatory body with jurisdiction over this Agreement or the activities conducted hereunder; and/or
  

(c)   legally binding industry code of conduct or guideline;

 
 which relates to this Agreement and/or the Inputs and/or the activities which are
comprised in the Project.

		
	“Background Intellectual Property”	  	 (a)   in relation to COLLABORATOR, means the Intellectual Property that is either
(i) owned by or licensed to COLLABORATOR prior to the Effective Date, or (ii) that is developed or licensed by COLLABORATOR after the Effective Date and outside of the conduct of activities for the Project; and in the case of either
(i) or (ii), that COLLABORATOR uses in the performance of the Project, other than Foreground Intellectual Property; and
  

(b)   in relation to Catapult, means the Intellectual Property owned by or licensed to Catapult at
the Effective Date, together with Intellectual Property that is developed by or licensed to Catapult after the Effective Date and outside of the conduct of activities for the Project; and in either case that Catapult uses in the performance of the
Agreement, and that is not Foreground Intellectual Property. Catapult represents and warrants that to the best of Catapult’s knowledge and belief, as of the Effective Date, Catapult Background Intellectual Property, consists of the Intellectual
Property as set forth in the attached Schedule 4, which Catapult will update from time to time as additional Catapult Background Intellectual Property is brought into the Project.

		
	“Business Rates”	  	means the portion of the business rates chargeable against the Centre paid for by COLLABORATOR in accordance with Clause 8.4.2 and in the amount set out at Schedule 3.
		
	“Centre”	  	means the Cell and Gene Therapy Catapult Manufacturing Centre located at Cell and Gene Therapy Catapult Manufacturing Centre, Gunnels Wood Road, Stevenage, Herts, SG1 2FX. The Centre outlines are edged in blue on the
Plans.
		
	“CNC corridor”	  	means the controlled non-classified corridor forming part of the Common Access Areas.
		
	“Code of Conduct”	  	means the code of conduct set out at Schedule 5.
		
	“Collaborator Forums”	  	means the Quality Forum, the Health and Safety Forum, and the Operational Forum, each as more particularly referenced, and described in Clause 9.6 and Schedule 15.
		
	“COLLABORATOR Manufacturing Process”	  	means the process to be developed and operated by COLLABORATOR under the Agreement in order to enable the production of COLLABORATOR Product on a large scale as more particularly defined prior to signature of this contract in the
Product Overview Document . It may be amended from time to time in accordance with Clause 7.2 and the QTA.

  
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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

			
	“COLLABORATOR Personnel”	  	means the employees or contractors of COLLABORATOR located at the Module from time to time.
		
	“COLLABORATOR Product”	  	means COLLABORATOR owned and developed product, or products, to be produced on a large scale through the creation and adoption of COLLABORATOR Manufacturing Process.
		
	“COLLABORATOR Responsibilities”	  	means the obligations on COLLABORATOR set out in Clause 10 (each one severally being a “COLLABORATOR Responsibility”).
		
	“Commissioning”	  	has the meaning given in Clause 6.1
		
	“Common Access Areas”	  	means any part of the Centre shown edged green on the Plans which does not form part of the Module, the Restricted Access Areas, the Shared Restricted Access Areas or the Accompanied Access Areas, or that is designated by Catapult
from time to time for common use by Catapult, and All Collaborators from time to time.
		
	“Compensations”	  	has the meaning given to it in Clause 18.1.1.
		
	“Conducting Media”	  	means any media for the transmission of Supplies.
		
	“Confidential Information”	  	means any information in any form or medium disclosed by one Party or such Party’s Affiliates, or their legal counsel, advisors, contractors (the “Disclosing Party”) to the other Party or its Affiliates, or
their legal counsel, advisors, contractors (the “Receiving Party”) or to which either Party gains access as a result of COLLABORATOR’s occupancy of the Module and Centre or Catapult or Third Party’s use of the Centre at
any time, or as a result of participation in any of the Collaborator Forums, concerning the business affairs, finances, technology, plans, strategy, products, manufacturing services, Know-how or services of
(i) the Disclosing Party, (ii) any of its Affiliates, (iii) any other entity with which the Disclosing Party or any of its Affiliates is in business negotiations or has contracted or to which it owes a duty of confidence, or
(iv) any other Collaborator ((iv) being an “Alternative Disclosing Party”), and all copies of the same. Confidential Information also includes any information disclosed by either Party under the terms of the confidentiality
agreement between the Parties dated 24 August 2018 (“Pre-existing CDA”).
		
	“Contributions”	  	means the Activity Input Contributions, Integral Input Contributions, Establishment Input Contributions, the Additional Input Contributions and/or any other contributions as agreed in writing between the Parties and provided by
Catapult to COLLABORATOR from time to time.
		
	“Control”	  	means (a) the direct or indirect ownership of fifty percent (50%) or more of the total voting power of securities or other evidences of ownership interest in a party or (b) the power to direct or cause the direction of the
management and policies of such party, directly or indirectly, whether through ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing, as
the case may be.
		
	“Disclosing Party”	  	has the meaning given in the definition of “Confidential Information” .
		
	“Effective Date”	  	has the meaning given in the preamble of this Agreement.
		
	“Establishment Inputs”	  	means the inputs provided by Catapult set out at Clause 9.3.
		
	“Establishment Input Contributions”	  	means the financial contributions payable in accordance with cause 8.1.5, to be made by COLLABORATOR with respect to the provision of the Establishment Inputs by Catapult, which are detailed in the Establishment Input
Statement.

  
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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

			
	“Establishment Input Statement”	  	means the Establishment Input Contributions Statement by and between Catapult and Collaborator dated December [***], 2018.
		
	“Expected Occupation Date”	  	means 1 March 2019, the contemplated date by which COLLABORATOR will occupy the Manufacturing Space, or such other date as mutually agreed by the parties in writing.
		
	“Facility Contribution”	  	means the contribution to be made by COLLABORATOR with respect to the provision of the Module and other capital aspects, as more particularly described at Clause 8.4.1 .1, and at Schedule 3.
		
	“Foreground Intellectual Property”	  	means the results, technical information, knowledge, inventions, improvements, experience, materials and data developed and arising directly from and as a direct result of the Project, together with any Intellectual Property in such
items.
		
	“GMP” or “EU-GMP”	  	means good manufacturing practice, being the standard required under the Laws of the European Union.
		
	“GMP Requirements”	  	means the guidance for the interpretation of the principles and guidelines of good manufacturing practices for medicinal products for human and veterinary use laid down in the Commission 2003/94/EC as amended and set out in Volume 4
of Eudralex (the rules governing medicinal products in the European Union), and the MHRA Rules and Guidance for Pharmaceutical Manufacturers and Distributors (The Orange Guide).
		
	“Ground Level”	  	means the Level 0 Ground Level as shown on the Plans.
		
	 “Health and Safety Forum”
	  	means the forum in which COLLABORATOR, Other Collaborators, and Catapult will convene to discuss health and safety matters as more particularly described in Clause 9.6 and Schedule 15.
		
	“HVAC”	  	heating, ventilation and air-conditioning.
		
	“Improvement”	  	means, with respect to any Intellectual Property or material: (a) all improvements, modifications and /or adaptions of such Intellectual Property or materials; and (b) all other Intellectual Property in, derived from,
relating to, or otherwise within the scope of any claim, right, or interest which would impair or restrict the use of, application, or rights comprised in, such Intellectual Property or material.
		
	“Insured Risks”	  	means the risks covered by the policies of insurance under Clauses 19.1 and 19.2, in each case to the extent that cover is generally available on normal commercial terms in the UK insurance market at the time the
insurance is taken out and any other risks against which Catapult reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers.
		
	“Integral Input Contributions”	  	means the financial contribution made by COLLABORATOR with respect to the provision of the Integral Inputs, as more particularly described in Clause 8.4.4, and at Schedule 3.
		
	“Integral Inputs”	  	the inputs provided by Catapult set out at Clause 9.1.
		
	“Intellectual Property”	  	means any and all issued patents and patent applications, inventions, utility models, registered and unregistered trademarks and service marks, registered designs, unregistered design rights, domain names, trade or business names,
copyright, database rights, rights in respect of confidential information, rights under data exclusivity laws, rights under licences, rights under orphan drug laws, property rights in biological or chemical materials, topography rights, Know-how, extension of the terms of any such rights (including supplementary protection certificates), applications for and the right to apply any of the foregoing registered property and rights, and similar or
analogous rights anywhere in the world.

  
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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

			
	“IT Infrastructure”	  	the information technology facilities in the Centre for use by COLLABORATOR and, where applicable, by Other Collaborators as more particularly described in Schedule 10.
		
	“Know-how”	  	means unpatented technical information (including without limitation information relating to inventions, discoveries, concepts, methodologies, models, research, development, and testing procedures; the results of experiments, tests,
and trials; manufacturing processes, techniques, and specifications; and quality control data, analyses, reports, and submissions) that is not in the public domain.
		
	“Lease”	  	means a lease dated 1 October 2015 made between the (1) Stevenage Bioscience Catalyst and (2) Cell Therapy Catapult Limited.
		
	“Liability”	  	means liability arising out of this Agreement, whether in contract, tort, misrepresentation, restitution, under statute or otherwise, including any liability under an indemnity contained in this Agreement.
		
	“Letter Agreement”	  	Means the heads of terms entered into between the parties connected to COLLABORATOR’S occupation of the Centre dated 5 October 2018
		
	“Licence Period”	  	means the Term.
		
	“MAL”	  	means material airlock.
		
	“Manufacturing Office”	  	means the manufacturing office space forming part of the Module, allocated for COLLABORATOR’s use in accordance with Clause 3, and more particularly described in Schedules 2 and 12.
		
	“Manufacturing Space”	  	means the manufacturing space forming part of the Module, allocated for COLLABORATOR’s use in accordance with Clause 3, more particularly described in Schedules 2 and 12.
		
	“Module”	  	means the specific Manufacturing Space, the Manufacturing Office, and Non-Manufacturing Office each allocated by Catapult under this Agreement for COLLABORATOR’s occupation and use at the
Centre for carrying out the Project shown shaded in grey on the Plans, and which will include all fixtures and fittings and plant and machinery located within the Manufacturing Space, the Manufacturing Office and
Non-Manufacturing Office, to be set out in the Schedule of Condition and Inventory of Module Fixtures and Fittings immediately prior to occupancy and appended as Schedule 7.
		
	“Necessary Consents”	  	means all planning permissions and all other consents, licences, permissions, certificates, authorisations and approvals whether of a public or private nature which will be required by any regulatory authority for the Permitted
Use
		
	“Non-Manufacturing Office”	  	means the office space forming part of the Module allocated for COLLABORATOR’s use in Clause 3, the specifications for which are set out in Schedules 2 and 12.
		
	“Occupation Date”	  	means the date by which Catapult has materially completed its obligations contained in this Agreement and the Establishment Input Statement that are required to enable COLLABORATOR to physically occupy the Module. For the avoidance
of doubt: (i) the Occupation Date shall not be triggered solely by the occupation of the Non-Manufacturing Office if such occupation occurs prior to the material completion of Catapult’s obligations
under this Agreement and the Establishment Input Statement and (ii) COLLABORATOR will not have access to the Module until the later of: (a) the date that the Parties have agreed and entered into the QTA or (b) the Occupation
Date.

  
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	“Office Hours	  	9am – 5.30pm (UK time) Monday to Friday (inclusive) but excluding bank holidays and public holidays in England.
		
	“On-boarding”
	  	means part of the Establishment Inputs and a process completed by Catapult together with COLLABORATOR involving the risk assessment and regulatory oversight required to bring COLLABORATOR’s manufacturing processes and products
into the Centre as referred to in Clause 9.3.1 (b), and more particularly set out at Schedule 6.
		
	“Operational Forum”	  	means the forum in which COLLABORATOR, Other Collaborators, and Catapult will convene to discuss operations matters connected with the Centre as more particularly described in Clause 9.6 and Schedule 15.
		
	PAL	  	means personnel airlock.
		
	“Parties”	  	COLLABORATOR and Catapult; “Party” shall mean either of them, and “Parties” shall mean both COLLABORATOR and Catapult.
		
	“Permitted Use”	  	means any activity strictly in connection with the performance of the Project.
		
	“Plans”	  	means the plans of the Module allocated to COLLABORATOR under this Agreement, and of the Centre generally, attached to this Agreement at Schedule 2, Part 4.
		
	“PrAL”	  	means product airlock.
		
	“Pre-Screen Questionnaire”	  	means a questionnaire described at Schedule 6 defining the COLLABORATOR Manufacturing Process and Product as part of the COLLAB0RATOR Selection phase.
		
	“Product Overview Document” or “POD”	  	means a quality document completed as part of the On-boarding Project defining the COLLABORATOR Manufacturing Process and COLLABORATOR Product.
		
	“Process Transfer”	  	means an Establishment Input, and the practical transfer of COLLABORATOR equipment and processes into the Centre under the control and responsibility of COLLABORATOR as referred to in Clause 9.3.1 (a) and more particularly
set out at Schedule 6.
		
	“Project”	  	has the meaning given in Recital (C).
		
	“Quality Forum”	  	means the forum in which COLLABORATOR, Other Collaborators, and Catapult will convene to discuss quality matters connected with the Centre as more particularly described in Clause 9.4 and Schedule 15.
		
	“Quality Management System” or “QMS”	  	means a collection of business processes and governance structures focused on consistently meeting Regulatory Authority and GMP requirements. The Quality Management System is expressed as an organisational structure, policies,
procedures, processes and resources needed to maintain compliance to Eudralex Vol 4, Chapter 1 that are set out in the Quality Technical Agreement, and encompass the contents of Schedule 8 (Warehouse and Procurement Management Provisions), Schedule
9 (Environmental Monitoring), Schedule 10 (IT Infrastructure), Schedule 12 (Module and Centre Specification).

  
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	“Quality Technical Agreement” or “QTA”	  	means the agreement between the Parties governing the quality aspects of the Centre that are comprised in the Quality Management System (as it may be amended from time to time)
		
	“Quarter”	  	means a period of three months commencing on 1 January, 1 April, 1 July, or 1 October; and “Quarterly” shall be construed accordingly.
		
	“Receiving Party”	  	has the meaning given in the definition of “Confidential Information”.
		
	“Registered Rights”	  	means patents, registrable design rights, trademarks, and all other registered Intellectual Property.
		
	“Regulatory Authority”	  	means the competent authority for each country or for any relevant grouping of countries legally responsible for authorising the sale or supply of human pharmaceutical products in that country or group of countries.
		
	“Restricted Access Area(s)”	  	means the parts of the Centre accessible only by Catapult personnel marked in pink on the Plan.
		
	“Shared Restricted Access Area”	  	means the areas shared between the Manufacturing Space and an adjacent manufacturing space belonging either to COLLABORATOR or to another Collaborator marked in turquoise on the Plans.
		
	“Supplies”	  	means water, gas, air, foul and surface water, drainage, electricity, oil, telephone, heating, telecommunications, internet, data communications and similar supplies or utilities.
		
	“Steering Committee”	  	the representatives of the COLLABORATOR and Catapult appointed as set out in Clause 9.5. 
		
	“Technology Transfer”	  	means the transfer of COLLABORATOR’s existing production and/or manufacturing processes into the Module which is divided into On-boarding and Process Transfer.
		
	“Term”	  	means the period specified in Clause 17.1.17.1.
		
	“Termination Date”	  	means the date on which this Agreement expires or terminates for any reason.
		
	“Third Party”	  	means any person other than a Party or its Affiliates.
		
	“Warehouse and Procurement Management Provisions”	  	means the standards and obligations relating to the management of the warehouse set out at Schedule 8.
		
	“UPS”	  	means uninterrupted power supply.
		
	“Validation”	  	means documenting the way in which the equipment, facility or system used in a ‘process’ will result in an output meeting its specifications and predetermined quality attributes.
		
	“Year”	  	means the financial year ending 31 March.

  

	1.2	 In this Agreement, unless otherwise specified: 

 

	 	1.2.1	 references to Clauses and Schedules are to the clauses of, and schedules to, this Agreement;

  

	 	1.2.2	 headings are for convenience only and do not affect the interpretation of this Agreement;

  
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	 	1.2.3	 references to a person includes a body corporate or unincorporated body, and references to a company includes
any company, corporation or other body corporate, wherever and however incorporated or established; 

  

	 	1.2.4	 unless the context otherwise requires, words in the singular will include the plural and vice versa;

  

	 	1.2.5	 references to approvals or notices being “in writing” or “written” will include email;

  

	 	1.2.6	 any reference to a statute or statutory provision is a reference to it as amended, extended, re-enacted and/or replaced from time to time; and 

  

	 	1.2.7	 ‘including’ means ‘including but not limited to’ and ‘include’ and
‘includes’ will be construed accordingly. 

  

	2.	 CONDUCT OF THE PROJECT 

The Parties will undertake the Project in accordance with the provisions of this Agreement. 

 

	3.	 OCCUPATION OF THE MODULE 

Catapult permits COLLABORATOR to occupy the Module on the terms set out in Schedule 2. 

 

	4.	 MODULE SPECIFICATION  

 

	4.1	 Catapult will ensure the Manufacturing Space will be in accordance with the specifications at Schedule 12
Part A. 

  

	4.2	 Catapult will ensure the Manufacturing Office and Non-Manufacturing
Office will be in accordance with the specifications at Schedule 12 Part B. 

  

	5.	 CENTRE SPECIFICATIONS  

The Centre is a UK-licensed
EU-GMP-compliant facility developed in close relationship with the Medicines and Healthcare Products Regulatory Agency (the “MHRA”). comprising the
facilities set out at Schedule 12, Part C. It is also planned to consult with the United States Food and Drug Agency in order to demonstrate FDA compliance 
  

	6.	 COMMISSIONING AND QUALIFICATION OF THE CENTRE 

 

	6.1	 In advance of COLLABORATOR being granted access to the Manufacturing Space and subject to Clause 7,
Catapult will test equipment, facilities and/or plant which is Catapult owned or controlled and installed in order to verify it functions according to its design objectives or specifications (“Commissioning”). 

 

	6.2	 Commissioning will not cover the formal qualification of manufacturing systems or manufacturing process
equipment but will include the static and dynamic commissioning of the following: 

  

	 	6.2.1	 the Building Management System (BMS); 

 

	 	6.2.2	 the Quality Control Area HVAC 

 

	 	6.2.3	 the electrical supply (single and three phase); 

 

	 	6.2.4	 the boilers; 

  

	 	6.2.5	 the chiller; 

  

	 	6.2.6	 HVAC; 

  

	 	6.2.7	 lighting – including emergency lighting; 

 

	 	6.2.8	 back-up generator; 

  
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	 	6.2.9	 UPS systems; 

  

	 	6.2.10	 door interlocks; 

  

	 	6.2.11	 pharmaceutical grade gas supplies (air, oxygen, carbon dioxide and nitrogen); 

 

	 	6.2.12	 CCTV; 

  

	 	6.2.13	 fire alarm; 

  

	 	6.2.14	 LN2 / Low level, temperature and oxygen monitors; 

 

	 	6.2.15	 drainage; and 

  

	 	6.2.16	 appropriate IT Infrastructure (including cable network, switches, and server rooms). 

 

	6.3	 Where appropriate, Catapult will qualify the building, systems and equipment that form part of the Centre, and
this will extend to installation qualification, operational qualification, and performance qualification of all GMP direct impacting systems and integral equipment (“Qualification”). The basis for this Qualification and results
obtained as related to shared areas (including Shared Restricted Access Area) and the COLLABORATOR Module will be shared with quality representatives for COLLABORATOR on request. 

 

	6.4	 Formal Qualification will be undertaken (which includes installation qualification and operational
qualification) concurrent with leveraging the output of facility Commissioning. Performance qualification will only occur subsequent to the completion of Commissioning, installation qualification and operational qualification. Performance
qualification will only be applied to those Inputs, systems and items of equipment that have been identified as having direct impact on product quality according to a formal system level impact assessment. These include, but are not necessarily
limited to: 

  

	 	6.4.1	 Manufacturing Space and all additional air locks HVAC 

 

	 	6.4.2	 Warehouse HVAC 

  

	 	6.4.3	 Environmental Monitoring System (EMS) 

 

	 	6.4.4	 Grade C corridor and technical area HVAC 

 

	 	6.4.5	 Carbon dioxide system 

 

	 	6.4.6	 Nitrogen gas system 

  

	 	6.4.7	 Liquid nitrogen system, storage tanks (PQ will be carried out in conjunction with a collaborator) and shared
Controlled Rate Freezing equipment (COLLABORATOR will be responsible for their own cycle development and PQ) 

  

	 	6.4.8	 Oxygen system; and 

  

	 	6.4.9	 Cold room, fridges, freezers (PQ will be carried out in conjunction with COLLABORATOR) 

 

	 	6.4.10	 the Environmental Monitoring System (EMS) 

Environmental monitoring equipment (e.g. viable air sampler, non-viable particulate monitors); PQ will
be carried out in conjunction with a Collaborator 

  
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	7.	 PROCESS AND PRODUCT 

 

	7.1	 VALIDATION 

  

	 	7.1.1	 Process Validation is entirely the responsibility of COLLABORATOR. 

 

	 	7.1.2	 Where COLLABORATOR has completed a Technology Transfer of COLLABORATOR’s Manufacturing Process to the
Module, then COLLABORATOR’s Manufacturing Process validation will be the sole responsibility of COLLABORATOR. 

  

	7.2	 PROCESS AND PRODUCT AMENDMENT 

 

	 	7.2.1	 Catapult confirms that it approved the information contained in the initial POD provided as part of the On-boarding Project as describing the COLLABORATOR Process and COLLABORATOR Product that can and may be developed, implemented, and manufactured in the Module by COLLABORATOR. The initial COLLABORATOR Product
provided as part of the On-boarding Project has been included in the QTA Product List, and, therefore, constitutes a COLLABORATOR Product. It further confirms that such approval of COLLABORATOR Product will
remain valid during the Term on the condition that no amendments are made at a later stage. 

  

	 	7.2.2	 The COLLABORATOR Product and Process will be again vetted and approved in advance of occupation as part of the On-boarding Process. In the event the On-boarding Process reveals any variations and/or additions to the information contained in the POD (“Product or Process
Modifications”) these will be considered in accordance with the following procedure and in meeting the requirements of the QTA: 

  

	 	7.2.2.1	 COLLABORATOR must notify Catapult in writing of its application for the intended changes (the
“Notification”); 

  

	 	7.2.2.2	 In response, Catapult will apply the principles under Clause 7.2.3. If the requested Product or Process
Modifications meet the requirements of these principles, and are therefore capable of introduction, Catapult will always endeavour to approve the earliest date feasible for introduction, allowing for logistical constraints, and the competing
interests of Other Collaborators in existence at the time of request (the “Introduction Date”); and 

  

	 	7.2.2.3	 Catapult will confirm the outcome of the application of the criteria in Clause 7.2.3 and, if applicable,
of the Introduction Date in writing to COLLABORATOR as soon as it is able to from the date of notification under Clause 7.2.2.1, but in any event within 30 calendar days of receipt of Notification by Catapult. Where Catapult indicates that the
Modifications will not be permitted, it will identify the reasons why such Notification has been refused. 

  

	 	7.2.3	 Catapult will permit (a) new COLLABORATOR Product(s), and/or COLLABORATOR Process(es) or COLLABORATOR
modification(s) to such COLLABORATOR Product(s) or COLLABORATOR Process(es) if: 

  

	 	7.2.3.1	 The new or modified COLLABORATOR Product(s), and/or COLLABORATOR Process(es) meet the requirements of the QTA;

  

	 	7.2.3.2	 The proposed product(s) is/are not a restricted product listed at Clause 7.3; 

 

	 	7.2.3.3	 It does not affect Catapult’s ability to comply with GMP or GMP Requirements; 

  
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	 	7.2.3.4	 It does not compromise the safety of the Centre, or that of any Other Collaborator; 

 

	 	7.2.3.5	 It does not place an additional, unreasonable demand on the resources of Catapult personnel and their ability
to operate the Centre; 

  

	 	7.2.3.6	 It does not interfere with the Catapult’s, COLLABORATOR’s, or any Other Collaborator’s
compliance with their respective legal duties; and/or 

  

	 	7.2.3.7	 It can be accommodated in the Centre, taking into account the overall capacity of the Centre.

  

	 	7.2.4	 In the event that COLLABORATOR does not agree with the outcome of Catapult’s application of the principles
under Clause 7.2.3, the matter will be referred to the Steering Committee for resolution, and if no agreement is reached within a reasonable period, then the Parties will comply with the Expert Determination Procedure set out in Schedule
13. 

  

	7.3	 RESTRICTED PRODUCTS 

COLLABORATOR will not be permitted, and Catapult undertakes that it will not allow any Other Collaborator to produce or utilise in their
process the following products in the Centre (unless prior agreement is sought from all collaborators by Catapult): 
  

	 	•	 	 B Lactam Antibiotics 

  

	 	•	 	 Other highly sensitising antibiotics 

 

	 	•	 	 Pathogenic Organisms (Containment Level 3 or 4) 

 

	 	•	 	 GMO 3 and above 

  

	 	•	 	 Radiopharmaceuticals 

  

	 	•	 	 Ectoparasiticides 

  

	 	•	 	 Sources of ionising radiation (but excluding low energy laboratory scale
X-irradiators which have been assessed and approved by Catapult) 

  

	8.	 CONTRIBUTIONS  

 

	8.1	 A risk and capital contribution will be charged throughout the Term calculated at the rate of 10% of each
Contribution, except for the Facility Contribution and Business Rates. The risk and capital contribution will remain fixed at the rate of 10% throughout the Term. 

 

	8.2	 VAT, if applicable, will be added to all Contributions. The Parties acknowledge that on signature of the Letter
Agreement COLLABORATOR made a reservation contribution to Catapult of £200,000. As a result, Catapult will reduce the aggregate of all Contributions due from COLLABORATOR on the Occupation Date by this amount. 

 

	8.3	 Any changes to the Contributions (other than the Facility Contributions which are fixed for the Term) will be
made once per year based on the new annual budget which will be discussed at the Operational Forum. 

  

	8.4	 COLLABORATOR will make the following Contributions to the costs of the Collaboration: 

 

	 	8.4.1	 subject to Clauses 8.1 to 8.3, from the Occupation Date, the Facility Contribution, payable
quarterly in advance; 

  

	 	8.4.2	 subject to Clauses 8.1 to 8.3, from the Occupation Date, for each Module occupied by COLLABORATOR, one-fifth of the total costs chargeable against Centre in the form of Business Rates, payable quarterly in advance; 

  

	 	8.4.3	 the Activity Related Input Contributions as they are incurred, due individually from the COLLABORATOR;

  
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	 	8.4.4	 subject to Clauses 8.1 to 8.3, from the Occupation Date, the Integral Input Contributions payable
quarterly in advance and calculated in accordance with the following provisions of Clauses 8.4.4 (a), (b), and (c): 

  

	 	(a)	 Catapult will estimate the aggregate Integral Input Contributions incurred for five (5) Modules on the
Ground Level in concurrent occupation for the next year (the “Estimated Aggregate Integral Input Contributions”). COLLABORATOR will be responsible for a fixed amount, as set out at Schedule 3, such amount to be based on a 20%
share of this Estimated Aggregate Integral Input Contributions. When five (5) Modules on the Ground Level are in concurrent occupation (“Full Occupation”), the contributions model in 8.4.4(b) will apply. In the event the share
of the Estimated Aggregate Integral Input Contributions requested from the collaborators for the Year ending 31 March 2019 falls short of the actual amounts incurred by Catapult for that Year, Catapult will not be permitted to include any such
shortfall in the COLLABORATOR’S share of the Estimated Integral Input Contributions for the Year beginning 1 April 2019. 

  

	 	(b)	 From the date Full Occupation is achieved, COLLABORATOR will continue to pay a 20% share of the Estimated
Aggregate Integral Input Contributions incurred. However, from and including the first anniversary date (the “First Anniversary Date”) that Full Occupation is achieved, a reconciliation will take place at the end of each Year and a
refund or further contribution will be made to the COLLABORATOR with respect to its share of the Integral Input Contributions based on the difference between the Estimated Aggregate Integral Input Contributions, and the pro rata actual aggregate
Integral Input Contributions incurred for that Year. 

  

	 	8.4.5	 The Establishment Input Contributions will be payable directly to Catapult as detailed in the
Establishment Input Statement. 

  

	 	8.4.6	 Any further contributions payable by COLLABORATOR to Catapult pursuant to this Agreement will be payable within
thirty (30) days of receipt of an accurate, complete and valid invoice by COLLABORATOR for such contributions. 

  

	8.5	 Catapult will use reasonable endeavours to ensure the Occupation Date is not later than the Expected Occupation
Date. In the event the Occupation Date is not achieved by the Expected Occupation Date, Facility Contributions, Business Rates and Integral Input Contributions will only accrue on a pro rata basis from the Occupation Date. 

 

	8.6	 By being part of the Centre, COLLABORATOR has access to the wider Catapult supporting infrastructure which
includes, but is not limited to, reimbursement support, clinical trial support, process development capability, and regulatory and market access consultancy expertise. The cost of such supporting inputs are to be agreed through separate negotiation
and contractual agreement. 

  

	8.7	 Catapult undertakes to keep full and proper books of account and records relating to the Integral Input
Contributions and the Establishment Input Contributions. In addition COLLABORATOR will be provided with the opportunity to comment on such planned expenditure and consensus sought through participation in the Collaborator Forums (although for
clarity, Catapult reserves its discretion in exercising its professional judgment in relation to making any final decisions with respect to the Integral Input Contributions, Activity Related Input Contributions and Establishment Input Contributions
incurred, while being consistent with the objectives set out in the terms of reference for the Collaborator Forums, particularly with respect to maintaining a suitable level of services required for robust operation of a licensed facility suitable
for late stage clinical and commercial manufacture of ATMPs in the most economical way). 

  

	8.8	 At the beginning of each Year during the Term Catapult will provide to all Collaborators a budget setting out
all anticipated contributions for the Year with respect to Integral and Activity Related Inputs to be provided in that Year. In addition to this, from the date Full Occupation is achieved, a quarterly statement will be provided to all Collaborators
in the Centre comparing actuals to the budgeted amounts. 

  

	8.9	 Catapult will procure an audit for each Year during the Term to be carried out by an independent auditor
acceptable to all Collaborators. The Audit report will be made available to all Collaborators in the Centre. 

  
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	8.10	 [***]. 

  

	8.11	 [***] 

In any event of conflict between this Clause 8.11 of this Agreement and the QTA, the QTA shall prevail 

 

	9.	 CATAPULT INPUTS, FACILITIES AND SUPPORT 

The operation of the Centre is dependent on a range of critical inputs split between: 

(i) Integral Inputs are inputs Catapult, using its reasonable judgment considers as fundamental to the operation of the Centre and that
all collaborators will draw on in equal measure. Integral Inputs may be varied from time to time by Catapult, after prior discussion and consideration of concerns raised by COLLABORATOR and Other Collaborators in the Operational Forum, in order to
cater for the common, but not necessarily universal requirements of the COLLABORATOR and Other Collaborators in the Centre. 
 (ii)
Activity Inputs are inputs that are dependent on COLLABORATOR’s manufacturing processes and activity. 
 It is a condition of
occupation that the Integral Inputs, Establishment Inputs and Activity Related Inputs will be procured through Catapult. 
 (iii)
Additional Inputs are inputs COLLABORATOR requires Catapult to contribute to the Project. These will be arranged through the completion of an Additional Input Agreement in the form set out at Schedule 16 (“Additional Input
Agreement”). Once signed by both Parties, the Additional Input Agreement will amend this agreement and an Additional Input will be deemed appended to the list of Additional Inputs at Clause 9.4 and any associated contributions from
COLLABORATOR in consideration of the Additional Inputs will be deemed as having been inserted at Schedule 3. 
 (iii) Establishment
Inputs which are activities to be performed by Catapult, in conjunction with COLLABORATOR, to support the On-boarding Project. 
  

	9.1	 Catapult will provide the following Integral Inputs: 

 

	 	9.1.1	 The Quality Management System and supporting quality assurance function assuring all GMP services contributed
by Catapult are maintained in compliance with GMP Requirements; 

  

	 	9.1.2	 management and governance of the Quality Management System GMP compliance process; 

 

	 	9.1.3	 GMP regulatory compliance of the Centre from start up, including handling of associated MHRA compliance
governance activity such as routine audits inspections, subject to the following provisions: 

  

	 	(a)	 From the Occupation Date, if any activity required to ensure GMP regulatory compliance of the Centre, including
the handling of associated MHRA compliance governance activity such as inspections (“MHRA Compliance Activity”) impacts any COLLABORATOR Product and/or any COLLABORATOR Manufacturing Process, then the interactions with the MHRA
related to such activity will be led by COLLABORATOR with assistance being provided by Catapult. COLLABORATOR will be entitled to nominate representatives to coordinate and accompany all inspections involved in such MHRA Compliance Activity on
COLLABORATOR’s behalf; 

  

	 	(b)	 If any MHRA Compliance Activity required as a result of COLLABORATOR activity in the Module or Centre impacts
on any Catapult personnel, Other Collaborator personnel, Catapult activity within the Centre, Other Collaborator(s), or any part of the Centre other than the Module, then the interactions with the MHRA related to such activity will be led by
Catapult and assisted by 

  
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COLLABORATOR. During inspections, Catapult will be entitled to nominate representatives to coordinate and accompany all MHRA activity in this paragraph on Catapult’s behalf; and

  

	 	    (c)	 To the extent any MHRA Compliance Activity impacts on COLLABORATOR use of the Module or performance of the
COLLABORATOR process, Catapult will notify COLLABORATOR of such MHRA Compliance Activity and keep COLLABORATOR informed of the progress and communication relevant to such MHRA Compliance Activity. 

 

	 	9.1.4	 insurance as described in Clause 19; 

 

	 	9.1.5	 safety systems and equipment such as emergency light testing, fire extinguishers, health and safety equipment
outside the Manufacturing Space, and associated safety audits; 

  

	 	9.1.6	 a managed reception within Office Hours, and the provision of a mechanism for COLLABORATOR to access the Module
at any time; 

  

	 	9.1.7	 all utilities necessary for the operations of the Centre (but not the Manufacturing Space) as set out in
Schedule 14; 

  

	 	9.1.8	 support for IT Infrastructure; for the avoidance of doubt, this does not include applications support for
COLLABORATOR; 

  

	 	9.1.9	 hosting, maintenance and administration of all IT systems (BMS, EMS, eQMS, LIMS and WMS) plus all required
access rights for IT systems required primarily for Centre functions and required even when no collaborators are in occupation (BMS, EMS); 

  

	 	9.1.10	 receipt of incoming patient material and starting material into the Centre within Office Hours;

  

	 	9.1.11	 a system for booking in and managing COLLABORATOR owned inventory for raw materials, consumables, product
contact materials and excipients within the warehouse; 

  

	 	9.1.12	 short term final product and Drug Substance storage subject to terms to be agreed; 

 

	 	9.1.13	 out of hours call out system for all facilities alarms (bar the Manufacturing Space alarms);

  

	 	9.1.14	 cleaning and disinfection of all areas outside of the Manufacturing Space and outside of any Quality Control
laboratory space occupied by any collaborator; 

  

	 	9.1.15	 (save with respect to the Manufacturing Space which is provided for in Clause 9.2.1 and for any Quality
Control laboratory space occupied by any collaborator)) perform environmental monitoring in the form of viable and non-viable particulate monitoring required to demonstrate maintenance of the appropriate
environmental classifications; 

  

	 	9.1.16	 access to a controlled rate freezer and allocated short term storage capacity at the following temperatures:
controlled room temperature, 2-8°C, -20°C, -80°C and gas phase of liquid nitrogen; 

 

	 	9.1.17	 Toilet provision and services in relation to toilets available for COLLABORATOR use; 

 

	 	9.1.18	 Security input as required for general security of Centre; 

 

	 	9.1.19	 program and relationship management; 

  
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	 	9.1.20	 a kitchen area and vending machines for snacks, hot and cold drinks within the Centre; 

 

	 	9.1.21	 a dedicated secure Manufacturing Office and a Non-Manufacturing Office
per Module; and 

  

	 	9.1.22	 any other Inputs which Catapult, using its reasonable judgment, considers as fundamental to the operation of
the Centre and that the COLLABORATOR and all Other Collaborators will draw on in equal measure. 

 As part of the Integral
Inputs, Catapult will also ensure compliance with Applicable Laws and GMP Requirements in relation to the Restricted Access Areas, the Shared Restricted Access Areas or the Accompanied Access Areas by all collaborators. Should any default by any
third-party Collaborator be identified by Catapult, Catapult will respond to such default as set out under the terms of the QTA. 
  

	9.2	 Catapult will provide the following Activity Related Inputs: 

 

	 	9.2.1	 perform environmental monitoring in the form of viable monitoring and
non-viable particulate monitoring required to demonstrate maintenance of the appropriate environmental classifications, including undertaking remote non-viable sampling
in the Manufacturing Space, provided that the COLLABORATOR is responsible for performing viable sampling in the Manufacturing Space which will then be processed by Catapult; 

 

	 	9.2.2	 measured electrical power to the Manufacturing Space; 

 

	 	9.2.3	 upon request of COLLABORATOR, Manufacturing Space decontamination; 

 

	 	9.2.4	 a measured supply of pharmaceutical grade oxygen, nitrogen, carbon dioxide, and air; 

 

	 	9.2.5	 routine maintenance for the air handling system, including ULPA and HEPA filter changes 

 

	 	9.2.6	 gowning for Catapult staff providing services to the collaborators, (COLLABORATOR gowning is ordered by
COLLABORATOR from Catapult warehouse stock); 

  

	 	9.2.7	 Leased telephone line with a data package from the supplier if required; 

 

	 	9.2.8	 transfer of decontaminated clinical, biological and hazardous chemical liquid waste from the liquid waste
staging area and arrange its removal from the Centre by appropriately licensed contractors; 

  

	 	9.2.9	 transfer of decontaminated clinical and biological solid waste from the solid waste staging area and arrange
its removal from the Centre by appropriately licensed contractors; ; 

  

	 	9.2.10	 packing, and dispatch as described in Schedule 8; 

 

	 	9.2.11	 warehouse movements over and above a fair usage level, such level to be defined prior to the Occupation Date

  

	 	9.2.12	 access rights to IT systems required for COLLABORATOR activity within the module: eQMS, LIMS, WMS; a stand-by facility and personnel to receive incoming patient material and starting material into the Centre outside of Office Hours; 

 

	 	9.2.13	 provision of Quality Assurance inputs to support for COLLABORATOR operation within the Module; , in terms of
handling non-process related deviations, Quality Events and planned changes, cleanroom environmental excursions, governance of Catapult generated GMP data provided to COLLABORATOR, providing GMP documentation
to support QP certification of Drug Product; 

  
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	 	9.2.14	 engineering and maintenance support for COLLABORATOR operation within the Module. 

 

	9.3	 Catapult will provide the following Establishment Inputs: 

 

	 	9.3.1	 Catapult will work in cooperation with COLLABORATOR to define and implement an agreed strategy for Technology
Transfer, made up of: 

  

	 	(a)	 Process Transfer: defining, implementing and/or supporting conduct of Process Transfer, but such process under
the control and responsibility of COLLABORATOR, and 

  

	 	(b)	 On-boarding: the Parties agree the process is summarised in Schedule 6,
but that the precise break down of responsibilities and the processes will be defined and agreed in the Establishment Input Statement. 

  

	 	9.3.2	 Catapult will clean and decontaminate the Manufacturing Space and ensure the Manufacturing Space is operating
at the specified cleanliness grade prior to COLLABORATOR occupation; 

  

	 	9.3.3	 Catapult will decontaminate the Manufacturing Space at termination of the contract; and 

 

	 	9.3.4	 Catapult will select and authorise all Collaborators and ensure their processes and procedures meet the minimum
standards required by Catapult, such standard in each case sufficient to meet the requirement of this Agreement including GMP. 

  

	9.4	 Additional Inputs 

Additional Inputs to be listed once the process is completed in accordance with Clause 9 (iii) above. 

 

	9.5	 Steering Committee 

The Parties will each nominate two representatives who will form the steering committee for the Project (“Steering
Committee”). Where possible the representatives from both Parties will be the same as those serving on the steering committee for the On-boarding Project. The Steering Committee will meet (by
telephone or in person) as required to discuss matters relating specifically to the COLLABORATOR and/or the Project (such as changes to Contributions and Inputs, staffing updates, collaboration performance and resolution of issues). The Steering
Committee will also participate in dispute resolution as set out in Clause 33 as required. 
  

	9.6	 Collaborator Forums 

Catapult undertakes to COLLABORATOR it will ensure that the Collaborator Forums take place in accordance with the frequencies, the parameters,
and all other terms set out in Schedule 15. 
  

	9.7	 Catapult Inputs: Failure or Prevention in Performance 

 

	 	9.7.1	 If COLLABORATOR’s performance of its obligations under this Agreement is prevented or delayed by any act
or omission of Catapult, its agents, sub-contractors or employees, COLLABORATOR will not be liable for any costs, charges or loss sustained or incurred by Catapult arising directly or indirectly from such
prevention or delay. 

  

	 	9.7.2	 If Catapult delays or does not perform its responsibilities under this Agreement that directly impact
COLLABORATOR’S ability to develop the COLLABORATOR Process or to produce the COLLABORATOR Product, COLLABORATOR, directly or through a third-party, may perform such responsibilities in its place and Catapult will compensate COLLABORATOR for any
costs it incurs in discharging such responsibilities on Catapult’s behalf. 

  
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	10.	 COLLABORATOR RESPONSIBILITIES  

 

	10.1	 COLLABORATOR will, and will ensure that COLLABORATOR Personnel will, comply with the following COLLABORATOR
Responsibilities: 

  

	 	10.1.1	 abide by the Code of Conduct and all other guidelines and protocols in force from time to time at the Centre;

  

	 	10.1.2	 perform health and safety and quality risk assessments for all materials and processes before such materials
and processes enter or are carried out in (as applicable) the Manufacturing Space and provided always that such materials and processes have first been authorised by Catapult and provide copies of such risk assessments to Catapult on request;

  

	 	10.1.3	 handle all large volume liquid waste (such as culture media and buffers) within the cleanroom and securely and
safely transfer it to the handling area in the Centre (as designated by Catapult from time to time); 

  

	 	10.1.4	 collect all small volume liquid waste in a sealable container within the Manufacturing Space and decontaminate
it in-situ before removing it from the cleanroom via the MAL out to a waste staging and disposal area; 

  

	 	10.1.5	 remove all solid waste from the cleanroom via the MAL out to a staging area for removal by the Catapult;

  

	 	10.1.6	 maintain and implement in accordance with Catapult’s standard operating procedures cleaning regimes for
the Manufacturing Space; 

  

	 	10.1.7	 unless otherwise agreed with Catapult, define and implement Process Transfer; 

 

	 	10.1.8	 perform as required by Catapult all appropriate environmental monitoring within the Manufacturing Space and
make the plates available to Catapult for analysis; 

  

	 	10.1.9	 obtain, and maintain insurance in accordance with Clause 19; and 

 

	 	10.1.10	 comply with its obligations under the QTA. 

 

	10.2	 If Catapult’s performance of its obligations under this Agreement is prevented or delayed by any act or
omission of COLLABORATOR, its agents, sub-contractors or employees, Catapult will not be liable for any costs, charges or loss sustained or incurred by COLLABORATOR arising directly or indirectly from such
prevention or delay. 

  

	10.3	 If COLLABORATOR delays or does not perform its responsibilities under this Agreement, Catapult may perform such
responsibilities in its place and COLLABORATOR will compensate Catapult for any costs it incurs in discharging such responsibilities on COLLABORATOR’s behalf. 

 

	11.	 BACKGROUND INTELLECTUAL PROPERTY 

 

	11.1	 Subject to the provisions of this Agreement, COLLABORATOR hereby grants to Catapult a non-exclusive, fully paid-up, royalty-free, licence, under COLLABORATOR’s Background Intellectual Property solely for use in connection with the Project.

  

	11.2	 Subject to the provisions of this Agreement, Catapult hereby grants to COLLABORATOR a non-exclusive, fully paid-up, royalty-free, licence, under Catapult’s Background Intellectual Property to undertake the Project. 

 

	11.3	 From the Termination Date, such license will extend to permit COLLABORATOR to replicate the Module, or in the
alternative, to such extent as required to enable COLLABORATOR to otherwise replicate the COLLABORATOR Manufacturing Process, or to produce the COLLABORATOR Product, provided it is acknowledged that COLLABORATOR, at its own cost, will need to
procure the consents required to use any Third Party Intellectual Property Rights forming any part of the following items that constitute the overall Catapult Background Intellectual Property for use outside the Centre: the Electronic Quality
Management System, the Laboratory Information Management System, Warehouse 

  
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Management System and Environmental Monitoring System. (it is acknowledged Catapult cannot procure the grant of such rights and that if COLLABORATOR does not procure such rights that Catapult
accepts no liability whatsoever for claims resulting from breaches of any Third Party Intellectual Property Rights resulting from such inaction). 

  

	11.4	 This Agreement does not affect the ownership of any Intellectual Property in any Background Intellectual
Property, Know-how, or materials of a Party. Each Party will retain the sole and exclusive ownership rights in and to its Background Intellectual Property and except for the license granted to Catapult in
Clause 11.1 and to COLLABORATOR in Clause 11.2, nothing in this Clause 11 will be construed as giving to either Party any rights to use any Background Intellectual Property of the other Party other than as expressly granted by
this Agreement. Each Party will treat any other Party’s Background Intellectual Property as Confidential Information belonging to that other Party. 

  

	12.	 FOREGROUND INTELLECTUAL PROPERTY 

 

	12.1	 All Foreground Intellectual Property excluding Catapult Foreground Intellectual Property (as defined in
Clause 12.2 below), whether or not it is capable of being a Registered Right will be deemed to be the sole property of COLLABORATOR, regardless of which Party created such Foreground Intellectual Property. COLLABORATOR Foreground Intellectual
Property will constitute Confidential Information belonging to COLLABORATOR. COLLABORATOR may take such steps as it may decide from time to time, and at its own expense, to register and maintain any protection for the Foreground Intellectual
Property, including filing and prosecuting patent applications. Catapult will ensure that its employees involved in the creation of the Foreground Intellectual Property give COLLABORATOR such assistance as COLLABORATOR may reasonably request in
connection with the registration and protection of the Foreground Intellectual Property, including filing and prosecuting patent applications, and taking any action in respect of any alleged or actual infringement of the Foreground Intellectual
Property (for clarity, any costs connected with such assistance will be borne by COLLABORATOR). 

  

	12.2	 All Foreground Intellectual Property that constitutes an Improvement to the Catapult Background Intellectual
Property will be owned by Catapult (“Catapult Foreground Intellectual Property”). Subject to COLLABORATOR meeting the conditions under Clause 11.3, enabling Catapult to grant a license to the Catapult Background IP forming part of
any Catapult Foreground Intellectual Property to be licensed under this clause, Catapult grants to COLLABORATOR a non-exclusive, fully paid-up, royalty-free, worldwide, sub-licensable licence under the Catapult Foreground Intellectual Property to undertake the Project. 

Subject to COLLABORATOR meeting the conditions under Clause 11.3, from the Termination Date, such license will extend to permit COLLABORATOR to
replicate the Module, or in the alternative, to such extent as required to enable COLLABORATOR to otherwise replicate the COLLABORATOR Manufacturing Process, or to produce the COLLABORATOR Product. 

Any costs associated with the licence of any Intellectual Property to COLLABORATOR under this Clause 12.2 will be borne by COLLABORATOR. 

 

	12.3	 To the extent that any Catapult Foreground Intellectual Property is capable of prospective assignment,
COLLABORATOR now assigns the Catapult Foreground Intellectual Property to Catapult; and to the extent any Catapult Foreground Intellectual Property cannot prospectively be assigned, COLLABORATOR will assign such Catapult Foreground IP to Catapult as
and when they are created, at the request of Catapult. 

  

	12.4	 To the extent that any COLLABORATOR Foreground Intellectual Property is capable of prospective assignment,
Catapult now assigns COLLABORATOR Foreground Intellectual Property to COLLABORATOR; and to the extent any COLLABORATOR Foreground Intellectual Property cannot prospectively be assigned, Catapult will assign such COLLABORATOR Foreground Intellectual
Property to COLLABORATOR as and when they are created, at the request of COLLABORATOR. 

  

	12.5	 In the event any COLLABORATOR Foreground Intellectual Property is required by any Other Collaborator or
Catapult in order to operate within the Centre in accordance with GMP and the QTA, COLLABORATOR will grant a non-exclusive licence to such Other Collaborators or Catapult of such COLLABORATOR Foreground
Intellectual Property to operate within the Centre. 

  

	13.	 CONFIDENTIAL INFORMATION 

 

	13.1	 The Receiving Party undertakes: 

 

	 	13.1.1	 to maintain as secret and confidential all Confidential Information of the Disclosing Party and its Affiliates;

  

	 	13.1.2	 where the Receiving Party is Catapult, to use such Confidential Information only for the purposes of making the
Centre, Module and Inputs available to 

  
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COLLABORATOR (and other Collaborators, solely with respect to their Confidential Information) in accordance with this Agreement and the QTA and for exercising its rights under this Agreement and
the QTA, or where the Receiving Party is COLLABORATOR, for the purpose of exercising its rights, and complying with its obligations, under this Agreement and the QTA (in each case, a “Permitted Purpose”, and together, the
“Permitted Purposes” as it applies to each Party); and 

  

	 	13.1.3	 Subject to Clause 13.3, to disclose such Confidential Information only to those of its employees,
officers, contractors, consultants, advisors, legal counsel, Affiliates and sub-licensees pursuant to this Agreement (if any) to whom and to the extent that such disclosure is reasonably necessary for the
Permitted Purposes. For clarity, notwithstanding the foregoing, Catapult shall not disclose COLLABORATOR’s or its Affiliates’ Confidential Information (or the Confidential Information of any other entity with which COLLABORATOR or any of
its Affiliates is in business negotiations or has contracted or to which it owes a duty of confidence) to any other Collaborator, without (i) COLLABORATOR’s express prior written permission, on a case by case basis, and (ii) Catapult
complying with Clause 13.6and ensuring that such collaborator is made aware of the confidential nature of the Confidential Information. 

  

	13.2	 The provisions of Clause 13.1 shall not apply to Confidential Information which the Receiving Party can
demonstrate by reasonable, written evidence: 

  

	 	13.2.1	 was, prior to its receipt by the Receiving Party from the Disclosing Party or Alternative Disclosing Party, in
the possession of the Receiving Party and at its free disposal; 

  

	 	13.2.2	 is subsequently disclosed to the Receiving Party without any obligations of confidence by a Third Party who has
not derived it directly or indirectly from the Disclosing Party or Alternative Disclosing Party; 

  

	 	13.2.3	 is or becomes generally available to the public through no act or default of the Receiving Party or its agents,
officers, employees, Affiliates, advisors, contractors, consultants, legal counsel or sub-licensees; 

  

	 	13.2.4	 is independently developed by the Receiving Party by individuals who have not had any direct or indirect access
to the Disclosing Party’s or Alternative Disclosing Party’s Confidential Information; 

  

	 	13.2.5	 the Receiving Party is required to disclose (and so discloses) to the courts of any competent jurisdiction, or
to any government regulatory agency or financial authority, provided that the Receiving Party shall (i) inform the Disclosing Party or Alternative Disclosing Party as soon as is reasonably practicable, and (ii) at the Disclosing
Party’s or Alternative Disclosing Party’s request seek to persuade the court, agency or authority to have the information treated in a confidential manner, where this is possible under the court, agency, or authority’s procedures, in
which case, if the Confidential Information is treated in a confidential manner by the applicable court, agency or authority, such that it retains its confidential nature, Clause 13.1 shall continue to apply to such Confidential Information;
or 

  

	 	13.2.6	 was disclosed by COLLABORATOR pursuant to Clause 13.8. 

 

	13.3	 The Receiving Party shall procure that all of its employees, officers, contractors, consultants, advisors,
legal counsel, Affiliates and sub licensees pursuant to this Agreement (if any) who have access to any of the Disclosing Party’s or Alternative Disclosing Party’s information to which Clause 13.1 applies, shall be made aware of and
subject to these obligations and shall be subject to undertakings of confidentiality at least as restrictive as Clause 13.1 and which apply to the Disclosing Party’s or Alternative Disclosing Party’s Confidential Information before
being given access to the Disclosing Party’s or Alternative Disclosing Party’s Confidential Information, and the Receiving Party shall be liable to the Disclosing Party or Alternative Disclosing Party for any breach of its employees,
officers, contractors, consultants, advisors, legal counsel, Affiliates or sub licensees of the terms of this Clause 13. 

  
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	13.4	 Upon any termination or expiry of this Agreement, the Receiving Party shall return to the Disclosing Party or
Alternative Disclosing Party any documents or other materials that contain the Disclosing Party’s or Alternative Disclosing Party’s Confidential Information, including all copies made, and make no further use or disclosure thereof save
that the Receiving Party shall not be obliged to purge or delete Confidential Information of the Disclosing Party or Alternative Disclosing Party from its IT systems that is stored by any automated back-up
system, and shall be permitted to retain one (1) copy of all such Confidential information in its legal files solely for purposes of ensuring compliance with the terms of this Agreement, and shall not otherwise use or disclose such Confidential
Information. 

  

	13.5	 For the avoidance of doubt, and in light of Catapult’s objective to disseminate best practices and foster
the development of the regenerative medicine sector in the UK, Catapult shall be entitled to publish or otherwise disclose any of its Confidential Information (but excluding the terms of this Agreement), including the Catapult Background
Intellectual Property and Catapult Foreground Intellectual Property. 

  

	13.6	 Catapult (a) will procure that each other Collaborator, and any other Third Party contractor or other
business partner working under contract with Catapult or any other Collaborator that has access to the Centre, has agreed in writing to obligations of confidence equivalent to those set out in this Agreement with Catapult in relation to
COLLABORATOR’s Confidential Information (and COLLABORATOR’s Affiliates’ Confidential Information (and the Confidential Information of any other entity with which COLLABORATOR or any of its Affiliates is in business negotiations or has
contracted or to which it owes a duty of confidence)) and (b) will procure that (wherever possible with respect to such Third Parties other than Collaborators, but in all cases for Collaborators) COLLABORATOR will be given a third party right
to enforce such confidentiality provisions. 

  

	13.7	 For the purposes of this Agreement, Confidential Information shall also include any confidential information
disclosed between COLLABORATOR and Catapult under (a) the Pre-existing CDA (defined in the definition of Confidential Information), and (b) the Letter Agreement relating to the Collaboration between
the Parties dated 5 October 2018. In relation to Confidential Information disclosed under these prior agreements, the terms of this Agreement shall supersede the terms in those prior agreements. 

 

	13.8	 COLLABORATOR shall refer to its intended occupation of the Centre in regulatory filings and COLLABORATOR shall
be entitled to disclose the existence of this Agreement if required by applicable law, including any rules or regulations of the U.S. Securities and Exchange Commission (the “SEC”). COLLABORATOR shall provide Catapult with a reasonable
opportunity to review and comment on any such proposed disclosure. In the event this Agreement must be included with any report, statement or other document to be filed with such regulatory or other government agency, COLLABORATOR will use good
faith efforts to obtain confidential treatment from the SEC, or similar regulatory agency, of Catapult’s confidential financial information or other information of a competitive or confidential nature, and will include in such confidentiality
request such provisions of this Agreement as may be reasonably requested by Catapult. 

  

	14.	 WARRANTIES 

  

	14.1	 All Party Warranties 

Each Party warrants, represents and undertakes to the other that: 
  

	 	14.1.1	 it has full capacity and authority to enter into and to perform this Agreement; 

 

	 	14.1.2	 there are no: 

  

	 	(a)	 actions, suits or proceedings pending or, to its knowledge, threatened against or affecting it before any court
or administrative body or arbitration tribunal; or 

  

	 	(b)	 investigations by any Regulatory Authority pending or, to its knowledge, threatened against or affecting it;

  

	 	14.1.3	 once duly executed, this Agreement will constitute its legal, valid and binding obligations; and

  

	 	14.1.4	 it is not aware of any matters which might adversely affect its ability to perform its obligations pursuant to
this Agreement. 

  
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	14.2	 Catapult Warranties 

Catapult warrants, represents and undertakes to COLLABORATOR that from the Effective Date until the Termination Date: 

 

	 	14.2.1	 it will use reasonable commercial endeavours to ensure it will at all times have the ability and all rights,
titles and Necessary Consents to perform its obligations under this Agreement; 

  

	 	14.2.2	 comply with its obligations under the QTA; 

 

	 	14.2.3	 it will maintain the Lease and perform all of its obligations thereunder; 

 

	 	14.2.4	 it will provide the Inputs with all due care and skill and in any event in accordance with Applicable Law; and

  

	 	14.2.5	 it will make available the Centre and the Module in accordance with the provisions of this Agreement and in any
event in accordance with all Applicable Law. 

  

	14.3	 COLLABORATOR Warranties 

COLLABORATOR warrants, represents and undertakes to Catapult that from the Effective Date until the Termination Date it will: 

 

	 	14.3.1	 use reasonable commercial endeavours to ensure it will at all times have the ability and all rights, titles and
Necessary Consents to perform its obligations under this Agreement; 

  

	 	14.3.2	 perform both its obligations under this Agreement and all activities in respect of the Project in accordance
with all Applicable Law and the Code of Conduct; and 

  

	 	14.3.3	 perform COLLABORATOR’s Responsibilities. 

 

	14.4	 Intellectual Property Warranties 

Each Party represents, warrants, and undertakes to the other Party that: 

 

	 	14.4.1	 To its knowledge and belief, it has all right, title, and interest in and to its Background Intellectual
Property (Subject to the Third Party Intellectual Property Rights in the categories of Catapult Background in Clause 11.3); and 

  

	 	14.4.2	 it has not done, and will not do nor agree to do during the continuation of this Agreement, anything that would
be inconsistent with the exercise by the other Party of the rights granted to it under this Agreement. 

  

	14.5	 Except as expressly provided in Clause 11.3 and 14.4, neither Party makes any representation nor gives
any warranty or undertaking: 

  

	 	14.5.1	 as to the efficacy or usefulness of its Background Intellectual Property; 

 

	 	14.5.2	 that the use of any of its Background Intellectual Property or the exercise of any of the rights granted under
this Agreement will not infringe any other Intellectual Property or other rights of any other person; 

  

	 	14.5.3	 that the use of any of its Background Intellectual Property under or in connection with this Agreement will
produce Products of satisfactory or merchantable quality or fit for their intended purpose or that any Product will not have any latent or other defects, whether or not discoverable; or 

 

	 	14.5.4	 as imposing any obligation on it to bring or prosecute actions or proceedings against third parties for
infringement. 

  
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	15.	 INDEMNITY 

  

	15.1	 COLLABORATOR agrees to indemnify, and hold Catapult harmless from and against Liabilities that Catapult suffers
or incurs arising out of or in connection with: 

  

	 	15.1.1	 any claim or proceedings made, brought or threatened against Catapult by a Third Party in respect of the
COLLABORATOR Product or Process, or when in respect of the Project, whenever a Third-Party claim or proceeding is made, brought or threatened against Catapult because of the negligence, omission or wilful misconduct of COLLABORATOR, its employees,
agents, visitors or subcontractors; 

  

	 	15.1.2	 any loss of or damage to the tangible property or equipment belonging to a Third Party caused by or resulting
from the negligence, omission or wilful misconduct of COLLABORATOR, its visitors, employees, agents or subcontractors; 

  

	 	15.1.3	 any costs relating to an investigation, action or proceeding by a Regulatory Authority which arises as a result
of COLLABORATOR’s material breach of this Agreement; 

  

	15.2	 Indemnification of Catapult under this Clause 15.1 is conditional upon: (a) the extent that the
indemnified claim is caused by or resulting from the negligence, omission or wilful misconduct of Catapult, its employees, agents or subcontractors, or their failure to take any measures as are reasonable in the relevant circumstances to mitigate
the loss or damage that has occurred or may occur (in which case any portion of the claim not caused by or resulting from the negligence, omission or wilful misconduct of Catapult, its employees, agents or subcontractors or failure to mitigate will
remain valid for indemnification); (b) Catapult promptly, on becoming aware of such claim, notifying COLLABORATOR of the existence of the relevant claim ; (c) Catapult refraining from making any admissions in respect of the relevant claim; and
(d) COLLABORATOR having sole control over the defence and/or settlement of the relevant claim. 

  

	15.3	 Catapult agrees to indemnify, and hold COLLABORATOR harmless from and against Liabilities that COLLABORATOR
suffers or incurs arising out of or in connection with: 

  

	 	15.3.1	 any claim or proceedings made, brought or threatened against COLLABORATOR by a Third Party in respect of the
fabric or the operation of the Centre, and/or in respect of any property within the Centre’s demise, whenever a Third-Party claim or proceeding is made, brought or threatened against COLLABORATOR because of the negligence, omission or wilful
misconduct of Catapult, its employees, agents, visitors or subcontractors; 

  

	 	15.3.2	 any loss of or damage to the tangible property or equipment belonging to a Third Party caused by or resulting
from the negligence, omission or wilful misconduct of Catapult, its visitors, employees, agents or subcontractors; 

  

	 	15.3.3	 any costs relating to an investigation, action or proceeding by a Regulatory Authority which arises as a result
of Catapult’s material breach of this Agreement; 

  

	15.4	 Indemnification of COLLABORATOR under this Clause 15.3 is conditional upon: (a) the extent that the
indemnified claim is caused by or resulting from the negligence, omission or wilful misconduct of COLLABORATOR, its employees, agents or subcontractors, or their failure to take any measures as are reasonable in the relevant circumstances to
mitigate the loss or damage that has occurred or may occur (in which case any portion of the claim not caused by or resulting from the negligence, omission or wilful misconduct of COLLABORATOR, its employees, agents or subcontractors or failure to
mitigate will remain valid for indemnification); (b) COLLABORATOR promptly, on becoming aware of such claim, notifying Catapult of the existence of the relevant claim ; (c) COLLABORATOR refraining from making any admissions in respect of the
relevant claim; and (d) Catapult having sole control over the defence and/or settlement of the relevant claim. 

  

	16.	 LIMITATION OF LIABILITY  

 

	16.1	 Collaborating organisations occupying the Centre generally, and COLLABORATOR and Catapult in particular with
respect to this Agreement, in choosing to employ the Centre as a base for GMP manufacturing activities accept and acknowledge a degree of risk inherent in any multi-mode, shared occupancy manufacturing facility and the nature of the biological
processes undertaken within. Occasional unforeseen situations may arise associated with, for example utilities, equipment and associated processes that have the potential to disrupt or have a detrimental impact on processing, including on the
COLLABORATOR Product(s), and/or the COLLABORATOR Process(es). 

  

  
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	 	16.1.1	 In light of this, Catapult will procure from each Collaborator, prior to their occupation of the Centre,
contractual agreement not to commence or sustain legal proceedings against COLLABORATOR (or any other Collaborators or Catapult) for damages, or any other financial reimbursement (“Agreement Not to Sue”), as a consequence of any
unexpected and unintended consequences as a result of such a situation at the Centre as described in this Clause 16.1 (“Unforeseen Risks”) unless it is a result of attributable gross negligence or wilful misconduct of
COLLABORATOR (or any other Collaborators or Catapult, as applicable), breach of confidence, material breach of any obligation under the relevant Collaborator’s (or, COLLABORATOR’S, or Catapult’s) collaboration agreement or quality
agreement for the Centre , or material breach of Catapult SOPs or breach of Applicable Laws, by COLLABORATOR (or any other Collaborators or Catapult, as applicable) and shall procure a direct right of enforcement of such Agreement Not to Sue by
COLLABORATOR against each such Collaborator or Catapult pursuant to the Contracts (Rights of Third Parties) Act 1999.

  

	 	16.1.2	 With respect to each Collaborator that Catapult has obtained an enforceable Agreement Not to Sue in accordance
with Clause 16.1.1, which COLLABORATOR has a direct right to enforce against such Collaborator pursuant to the Contracts (Rights of Third Parties) Act 1999, COLLABORATOR agrees that it shall not commence or sustain legal proceedings against
such a Collaborator for damages, or any other financial reimbursement, as a consequence of any Unforeseen Risks unless it is a result of attributable gross negligence or wilful misconduct of, or a breach of confidence, material breach of any
obligation under the relevant Collaborator’s collaboration agreement or quality agreement for the Centre, or material breach of Catapult SOPs or breach of Applicable Laws by, such a Collaborator. 

 

	 	16.1.3	 Catapult and COLLABORATOR, each agree not to commence or sustain legal proceedings against the other Party for
damages, or any other financial reimbursement, as a consequence of any Unforeseen Risks unless it is a result of attributable gross negligence or wilful misconduct of the other Party, or is a breach of confidence, material breach of any obligation
under this Agreement or the QTA, or a material breach of Catapult SOPs or breach of Applicable Laws, by the other Party. 

  

	 	16.1.4	 This Clause 16.1 is not intended to qualify, and is subject to and without prejudice to, each
Party’s rights and obligations under Clause 15 (Indemnity). 

  

	16.2	 All Parties are obliged to abide by the operating requirements of the Centre in order to comply with GMP (as
defined in the Quality Technical Agreement) and exercise an appropriate duty of care such as to minimise the frequency and severity of events alluded to in Clause 16.1, thus offering each other mutual protection. In order to ensure no Party exposes
themselves to unreasonable financial risk as a result of such a situation, Catapult and COLLABORATOR (and Catapult will procure this of each collaborating organisation in occupation of the Centre) will ensure the continued and uninterrupted
maintenance of an appropriate level of public liability, business continuity and professional indemnity insurances. 

  

	16.3	 Without prejudice to Clauses 15.1, 16.1, 16.5, 16.6 and 16.7, the maximum aggregate Liability of
COLLABORATOR which arises from any single event which occurs in any Year will be limited to five million pounds sterling (£5,000,000) for any single event, with no limit on the number of claims made against it from Catapult.

  

	16.4	 Without prejudice to Clauses 15.3, 16.1, 16.5 and 16.6, the maximum aggregate Liability of
Catapult which arises from any single event which occurs in any Year will be limited to five million pounds sterling (£5,000,000) for any single event, with no limit on the number of claims made against it from COLLABORATOR.

  
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	16.5	 In no circumstance will any Party have any Liability for: 

 

	 	16.5.1	 any indirect, special or consequential loss; or 

 

	 	16.5.2	 any loss of profits, revenue, business opportunity, data, or goodwill (in each case whether such loss is direct
or indirect). 

  

	16.6	 Nothing in this Agreement limits or excludes any person’s liability to the extent that it may not be so
limited or excluded by law, including any such liability for death or personal injury caused by that person’s negligence, or liability for fraud or fraudulent misrepresentation. 

 

	16.7	 Without prejudice to Clause 16.6, nothing in this Agreement will operate to exclude or restrict
COLLABORATOR’s Liability: 

  

	 	16.7.1	 under the indemnity contained in Clause 15; or (in 16.7.2 below, other than when the specific conditions
stipulated in the Agreement are met so as to justify otherwise); or 

  

	 	16.7.2	 to pay the Contributions that are correctly incurred under this Agreement; or 

 

	 	16.7.3	 to pay the Compensations. 

 

	16.8	 The Parties agree that they have negotiated this Clause 16 and the allocation of risk in this Clause is
a fair and equitable position. 

  

	17.	 DURATION AND TERMINATION 

 

	17.1	 This Agreement, and the licences granted hereunder, will come into effect on the Effective Date and, unless
terminated earlier in accordance with this Clause 17 or unless specified in the continuing obligations provisions of this Agreement as having continued effect, will continue in force until the date 3 years after the Occupation Date (the
“Term”), and on such date this Agreement will terminate automatically by expiry. 

  

	17.2	 On the conditions that (a) COLLABORATOR has consistently complied with its obligations in the
Collaboration Agreement throughout the Term up to the date the option is exercised, and (b) the Option is exercised not less than 12 months before the end of the Term, then COLLABORATOR will have a
six-month period during which it will be entitled to negotiate with Catapult the duration, terms and conditions of an extension to its occupation of a module .At the end of such 6 month period the option will
lapse and Catapult will have no obligation to continue such negotiations with COLLABORATOR. 

  

	17.3	 

  

	 	i.	 [***]. 

  

	 	ii.	 For a maximum period of 12 calendar months from the date that all the modules in the second release of modules
at the Centre are available for reservation (the “Option Term”), Catapult grants COLLABORATOR the non-transferrable option to negotiate for one additional module in that second release (the
“Option”). 

  

	 	iii.	 [***]. 

  

	 	iv.	 [***]. 

  

	 	v.	 [***]. 

  

	17.4	 The Parties may terminate this Agreement at any time by mutual written consent, signed by the authorised
signatories of the Parties and the provisions of Clauses 18.1 and 18.2 will not apply. 

  

	17.5	 Either Party may elect to terminate this Agreement at any time by notice in writing to the other Party, such
notice to take effect as specified in the notice: 

  

	 	17.5.1	 if the other Party is in material breach of this Agreement and, in the case of a breach capable of remedy
within 90 days, the breach is not remedied within 90 days of the party receiving notice specifying the breach and requiring its remedy; or 

  

  
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	 	17.5.2	 if (A) the other Party becomes insolvent or unable to pay its debts as and when they become due; or
(B) an order is made or a resolution is passed for the winding up of the other Party (other than voluntarily for the purpose of solvent amalgamation or reconstruction); or (C) a liquidator, administrator, administrative receiver, receiver,
or trustee is appointed in respect of the whole or any part of the other party’s assets or business; or (D) the other Party makes any composition with its creditors; or (E) the other Party ceases to continue its business; or
(F) as a result of debt and/or maladministration the other party takes or suffers any similar or analogous action in any jurisdiction. 

  

	17.6	 COLLABORATOR may terminate this Agreement at any time after the Effective Date by notice in writing to the
Catapult specifying the Termination Date of this Agreement, in which case the provisions of Clause 18.1.1 or 18.1.2 (as applicable) will apply, and this Agreement will end on the Termination Date. 

 

	17.7	 COLLABORATOR may terminate this Agreement hereunder immediately upon written notice in the event that Catapult
is in material breach of its obligations under Clause 20. Catapult will have no claim against COLLABORATOR for any loss of whatever nature by virtue of the termination of this Agreement in accordance with this Clause 17.7. To the
extent that the laws of the territory provide for any such compensation to be paid to Catapult upon the termination of this Agreement, or under circumstances where breach is caused in any part by COLLABORATOR, Catapult hereby expressly agrees to
waive (to the extent possible under the laws of the territory) any such compensation. 

  

	17.8	 A Party’s right of termination under this Agreement, and the exercise of any such right, will be without
prejudice to any other right or remedy (including any right to claim damages) that such Party may have in the event of a breach of contract or other default by the other Party. 

 

	18.	 CONSEQUENCES OF TERMINATION 

 

	18.1	 COLLABORATOR recognises that considerable planning and advance preparation is required to ensure timely
COLLABORATOR occupation of the Module. In recognition of the opportunity cost of reserving a Module for COLLABORATOR, if COLLABORATOR serves notice to terminate this Agreement in any circumstances other than as set out in Clause 17.4,
or Clause 17.7, COLLABORATOR will compensate Catapult as follows: 

  

	 	18.1.1	 where notice to terminate is served after the Effective Date but before the Expected Occupation Date,
COLLABORATOR will pay to Catapult the sum equivalent to 1 year’s income and which will include: the Facility Contribution; the Business Rates; Integral Input Contributions, any Establishment Input Contributions and any other unavoidable costs
resulting from the Module remaining unoccupied for up to a period of 1 year (the “Compensations”). Catapult will, to the extent that it is reasonably able to do so in the circumstances, release COLLABORATOR from its obligations
where a suitable alternative collaborator is secured by Catapult.; 

  

	 	18.1.2	 Thereafter, where notice to terminate is served from and including the Expected Occupation Date, COLLABORATOR
will pay the Catapult Compensations until the earliest to occur of: (i) the expiration of one (1) year, (ii) through the end of the Term, or (iii) the date on which a suitable alternative collaborator (if any) is secured by the
Catapult. In the event this Agreement is terminated in accordance with Clause 8.10.1, the Compensations due to Catapult following the Termination Date shall be determined pursuant to Clause 8.10.2. 

 

	18.2	 The provisions of Clause 18.1 will not apply where this Agreement is terminated in accordance with
Clause 20. 

  

	18.3	 Upon termination of this Agreement for any reason (and unless otherwise agreed by the Parties in a subsequent,
written agreement, including any agreement entered into in accordance with the provisions of Clause 26.1): 

  

	 	18.3.1	 the provisions of 0, 11, 12, 13, 15 14, 18, and 19 will remain in force; and

  

	 	18.3.2	 the Collaboration will terminate, subject to any subsisting and continuing obligations. 

  
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	19.	 INSURANCE 

  

	19.1	 Catapult will take out with a reputable insurance company and maintain at all times during the Term of this
Agreement professional indemnity, and public liability insurance including against all loss of and damage to the Module, the Centre, and injury to persons including death arising out of or in connection with this Agreement. Such insurances may be
limited in respect of one claim provided that such limit must be at least £5 million (five million pounds). Product liability insurance will continue to be maintained for a further six years from the end of the
term of this Agreement. 

  

	19.2	 COLLABORATOR will take out with a reputable insurance company, and maintain at all times during the Term of
this Agreement public and product liability insurance including against all loss of and damage to the Module and Centre, injury to persons including death arising out of or in connection with this Agreement, and against all loss of and damage to any
COLLABORATOR owned equipment, or COLLABORATOR personnel personal effects within the Module or in the Centre generally. Such insurances may be limited in respect of one claim provided that such limit must be at least
£5 million (five million pounds). Product liability insurance will continue to be maintained for a further six years from the end of the term of this Agreement. COLLABORATOR acknowledges that Catapult will have
no responsibility for any COLLABORATOR owned equipment or any COLLABORATOR personnel personal effects located in the Module or any other part of the Centre. 

  

	19.3	 If there is destruction or damage to the Centre that leaves the whole or substantially the whole of the Centre
and / or the Module unfit for occupation and use or inaccessible, the Catapult may terminate this Agreement immediately by written notice to COLLABORATOR at any time within the period of 2 years after the date of such damage or destruction.

  

	19.4	 If there is destruction or damage to the Centre that leaves the whole or substantially the whole of the Centre
and / or the Module unfit for occupation and use or inaccessible and the Module has not been made fit for occupation and use by COLLABORATOR within 2 years of the date of such destruction or damage then either Party may serve notice on the other to
terminate this Agreement with immediate effect, but before such reinstatement is completed. 

  

	19.5	 If there is destruction or damage to the Centre by any of the Insured Risks that leaves the whole or
substantially the whole of the Centre and / or the Module unfit for occupation and use or inaccessible, then, save to the extent that the Catapult’s insurance has not been vitiated or policy moneys refused because of any act or default of
COLLABORATOR then the Facility Charge, the Activity Related Input Contributions, the Integral Input Contributions, and the Business Rates or a fair proportion of them will not be payable from and including the date of such damage or destruction
until the earlier of the date that the Module is once again fit for occupation and use and accessible and the date 2 years from and including the date of such damage or destruction. 

 

	20.	 ANTI-BRIBERY AND ANTI-CORRUPTION 

 

	20.1	 Each Party agrees that, in connection with this Agreement and the Projects, they will each, (and will procure
that their respective officers, employees, agents and any other persons who perform services for them or on their behalf in connection with this Agreement will): 

 

	 	20.1.1	 not commit any act or omission which causes or could cause the other Party to breach, or commit an offence
under, any laws relating to anti-bribery and/or anti-corruption; 

  

	 	20.1.2	 keep accurate and up to date records showing all payments made and received and all other advantages given and
received in connection with this Agreement and the steps taken to comply with this Clause 20, and permit the other Party to inspect those records as reasonably required; 

 

	 	20.1.3	 promptly notify the other Party of: 

 

	 	(a)	 any request or demand for any financial or other advantage received by it (or that person); and

  

	 	(b)	 any financial or other advantage it (or that person) give or intend to give 

whether directly or indirectly in connection with this Agreement; and 

20.1.4 promptly notify the other Party of any breach of this Clause 20. 

  
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	21.	 PUBLICITY 

The Parties agree consent is required before use of the other’s name, or any adaptation of their name, or any of their logo(s),
trademark(s), or other of their device(s) in any advertising, promotional, or sales materials (however, they also agree that such consent is not to be unreasonably withheld). 
  

	22.	 STATE AID 

  

	22.1	 The parties acknowledge that Catapult is a ‘Research Organisation’ as defined under European Union
legislation and has an obligation to ensure, and is subject to audits to demonstrate, that all activities it undertakes are compliant with EU state aid rules, including its activities under this Agreement. The parties therefore agree that,
notwithstanding any other provision of this Agreement: 

 Catapult will be entitled to cooperate fully with any
investigation by any grant funder of Catapult or by the European Commission or any court of law with respect to this Agreement regarding the grant/alleged grant of state aid and the provision of Inputs hereunder and COLLABORATOR will, if so
requested by Catapult, promptly provide to Catapult all reasonable and necessary assistance in connection with any such investigation(s); 

Catapult will keep COLLABORATOR informed of any active and specific investigation into this Agreement and, where possible, liaise with
COLLABORATOR concerning any response to the European Commission; and 
 the parties will comply with any ruling of the European Commission or
court of law in relation to the application of the EU state aid rules to this Agreement. 
  

	22.2	 The obligations set out in Clause 22.1 22.1 above will subsist for a period of 10 years from the date of
this Agreement, notwithstanding any earlier termination of this Agreement. 

  

	23.	 NOTICES 

  

	23.1	 Any notice required to be given under this Agreement will be given in writing and sent by prepaid airmail post
or courier, delivered personal, or sent by email to the following addresses or such other address as may be notified by the relevant party from time to time in writing: 

 

			
	 To Catapult:
	  	 To COLLABORATOR:

	 If sent by post to:
  

Cell Therapy Catapult
 12th Floor Tower Wing
 Guy’s Hospital

Great Maze Pond
 London

SE1 9RT
 United Kingdom
	  	 If sent by post to:
  

TCR2 Therapeutics Inc.
100 Binney Street, Suite 710,
Cambridge, MA 02142
US

		
	For the attention of:	  	For the attention of:
		
	Matthew Durdy, CBO	  	Garry Menzel, CEO
		
	 If sent by email, to:
  

matthew.durdy@ct.catapult.org.uk
	  	 If sent by email, to:
  

garry@tcr2.com

		
		  	 With a copy to:
  

Margaret Siegel, Corporate Counsel

margaret.siegel@tcr2.com

  
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	23.2	 Any notice so sent will be deemed to have been duly given: 

 

	 	23.2.1	 if sent by personal delivery or courier, on delivery at the address of the relevant party;

  

	 	23.2.2	 if sent by prepaid airmail post, five days after the date of posting; and 

 

	 	23.2.3	 if sent by email, only on acknowledgement of receipt, such acknowledgement not being an automated message.

  

	24.	 FURTHER ASSURANCES 

Each party will, as and when requested by the other party and without charge, do all such acts and execute all such documents as may be
reasonably necessary to give full effect to the provisions of this Agreement. 
  

	25.	 ENTIRE AGREEMENT 

 

	25.1	 This Agreement constitutes the entire agreement between the parties and supersedes and replaces any and all
previous agreements, understandings or arrangements between the parties, whether oral or in writing, relating to its subject matter, including the Pre-Existing CDA. 

 

	25.2	 The Parties acknowledge that in entering into this Agreement they do not rely on any statement, representation
(including, without limitation, any negligent misrepresentation but excluding any fraudulent misrepresentation), warranty, course of dealing, custom, understanding or promise except for those expressly set out in this Agreement.

  

	25.3	 Except as expressly set forth in this Agreement, neither party grants to the other by implication, estoppel or
otherwise, any right, title, licence or interest in any Intellectual Property Right. 

  

	26.	 VARIATION 

  

	26.1	 Subject to Clause 26.2, no variation or amendment to this Agreement will be effective unless it is made
in writing and signed by the duly authorised representatives of both parties. 

  

	26.2	 The following principles will be adhered to in the event a change is proposed by Catapult to Schedule 8
(Warehouse and Procurement Management Provisions), Schedule 9 (Environmental Monitoring), Schedule 10 (IT Infrastructure), and Schedule 12 (Module and Centre Specifications), and Clause 10 only: 

 

	 	26.2.1	 If the proposed change has no material impact on the COLLABORATOR Product(s) or Process(es), or
COLLABORATOR’s compliance with GMP guidelines, Catapult may enact the change by a written notification (signed by a member of Catapult’s Quality team) to COLLABORATOR, such written notification forming an amendment to this Agreement; and

  

	 	26.2.2	 If the proposed change has a material impact on the COLLABORATOR Product(s) or Process(es), such change will
require the mutual written consent of the Parties in the form of an amendment to this Agreement signed by authorised signatories of their respective Quality Teams. 

 

	 	26.2.3	 If COLLABORATOR disagrees with Catapult’s assessment that a change under Clause 26.2.1 has no material
impact, the matter will be resolved through the use of the Expert Determination Procedure under Schedule 13. 

  

	27.	 ASSIGNMENT AND SUB-CONTRACTING 

 

	27.1	 Subject to Clause 27.2 and except as provided in Clause 27.3, neither Party will assign, sub-contract, mortgage, charge, or otherwise transfer any rights or obligations under this Agreement, without the prior written consent of the other Party. 

 

	27.2	 Either Party may assign and transfer all its rights and obligations under this Agreement to an Affiliate or to
any company to which it transfers all or substantially all of its assets or business to which this Agreement relates, provided that the assignee undertakes to the other Party to be bound by and perform the obligations of the assignor under this
Agreement. However, COLLABORATOR’S right to assign will be subject to Catapult’s consent, such consent not to be unreasonably withheld or delayed, and a Party will not have such a right to assign this Agreement if it is insolvent or any
other circumstance described in Clause 17.5.2 applies to it. 

  
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	27.3	 Catapult will be entitled to sub-contract any of its obligations under
this Agreement, provided that it will ensure any relevant obligations are passed on to such sub-contractor and Catapult will be responsible for the performance of such
sub-contractor. In the event Catapult changes its operating model from that in place on the Expected Occupation Date such that it sub-contracts any additional material
obligation not set out under this Agreement, Catapult will provide notice of the same to COLLABORATOR. 

  

	28.	 WAIVER 

No failure or delay by a party to exercise any right or remedy provided under this Agreement or by law will constitute a waiver of that or any
other right or remedy, nor will any single or partial exercise of any right or remedy preclude the further exercise of such right or remedy. 
  

	29.	 SEVERABILITY 

If any provision (or part of any provision) of this Agreement is held to be invalid, void or otherwise unenforceable by a court of competent
jurisdiction from whose decision no appeal is available, or from whose decision no appeal is made within the applicable time limit, then the provision (or relevant part of the provision) will be omitted and the remaining provisions of this Agreement
(and parts of the relevant provision, as applicable) will continue in full force and effect. 
  

	30.	 RELATIONSHIP OF THE PARTIES 

Nothing in this Agreement is intended to, or will be deemed to, establish or imply any agency, partnership or joint venture between the
parties. Neither party will act or describe itself as the agent of the other party and neither party will have, or hold itself out as having any authority to make commitments for or on behalf of the other party. 

 

	31.	 THIRD PARTY RIGHTS 

This Agreement does not create any right enforceable by any person who is not a Party to it save for (i) with respect to Clause 13 which
the Parties agree may be directly enforceable (as applicable, as an Alternative Disclosing Party) by any other Collaborator that has occupied the Centre concurrently with COLLABORATOR, provided that COLLABORATOR is able to directly enforce
provisions equivalent to Clause 13 with respect to COLLABORATOR’s Confidential Information in a collaboration agreement between such Collaborator and Catapult, and (ii) as provided in Clause 16.1. 

 

	32.	 GOVERNING LAW AND JURISDICTION 

 

	32.1	 This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or
formation (including non-contractual disputes or claims) will be governed by and construed in accordance with the laws of England and Wales. 

 

	32.2	 The parties to this Agreement irrevocably agree that the courts of England will have exclusive jurisdiction to
settle any dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims), except that a Party may seek an interim
injunction in any court of competent jurisdiction 

  

	33.	 DISPUTE RESOLUTION PROCEDURE 

 

	33.1	 If a dispute arises out of or in connection with this Agreement or the performance, validity or enforceability
of it (Dispute), then, except as expressly provided in specific clauses of this Agreement, the Parties will follow the procedure set out in this clause: 

 

	 	33.1.1	 either Party will give to the other written notice of the Dispute, setting out its nature and full particulars
(Dispute Notice), together with relevant supporting documents. On service of the Dispute Notice, the Chief Business Officer of the Catapult, and the head of manufacturing of COLLABORATOR or another authorized representative of COLLABORATOR
will attempt in good faith to resolve the Dispute; 

  
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	 	33.1.2	 if the Chief Business Officer of Catapult and the COLLABORATOR representative are for any reason unable to
resolve the Dispute within 30 days of service of the Dispute Notice, the Parties agree to enter into mediation in good faith to settle the Dispute in accordance with the CEDR Model Mediation Procedure. To initiate the mediation, a Party must serve
notice in writing (ADR notice) to the other Party to the Dispute, referring the dispute to mediation. A copy of the ADR notice should be sent to CEDR. Unless otherwise agreed between the Parties within 10 days of service of the ADR Notice,
the mediator will be nominated by CEDR. Unless otherwise agreed between the Parties, the mediation will start not later than 15 days after the date of the ADR notice. 

 

	33.2	 No Party may commence any court proceedings under Clause 32 (Governing Law and Jurisdiction) in relation
to the whole or part of the Dispute until 40 days after service of the ADR notice, provided that the right to issue proceedings is not prejudiced by a delay. 

  

	33.3	 If the Dispute is not resolved within 40 days after service of the ADR notice, or either Party fails to
participate or ceases to participate in the mediation before the expiry of that 40-day period, or the mediation terminates before the expiry of that 40-day period, the
Dispute will be finally resolved by the courts of England and Wales in accordance with Clause 32 (Governing Law and Jurisdiction) in this Agreement. 

  

	34.	 COUNTERPARTS 

This Agreement may be executed in any number of counterparts, each of which when executed and delivered will constitute a duplicate original of
this agreement, but all the counterparts will together constitute the same agreement. If this Agreement is executed in counterparts, it will not be effective unless and until each party has executed and delivered a counterpart to the other party.

  

	35.	 FORCE MAJEURE 

Neither Party will have any liability or be deemed to be in breach of this Agreement for any delays or failures in performance of this
Agreement that result from circumstances beyond the reasonable control of that Party, including without limitation labour disputes involving that Party. The Party affected by such circumstances will promptly notify the other Party in writing when
such circumstances cause a delay or failure in performance and when they cease to do so. 
  

	36.	 DATA PROTECTION 

 

	36.1	 “Data Protection Legislation” means the the EU General Data Protection Regulation 2016/679)
and all other applicable legislation relating to privacy or data protection in the United Kingdom. 

  

	36.2	 In this Agreement the terms: 

 

	 	36.2.1	 “Personal Data”, “Data Subject” and “Process” are as defined inthe EU General
Data Protection Regulation 2016/679) (“Act”). Each Party shall comply with its respective obligations under the provisions of the Act and all applicable Data Protection Legislation; 

 

	 	36.2.2	 “Data Processor” and “Data Controller” are as “Data Processor” and “Data
Controller” are defined in the EU General Data Protection Regulation 2016/679). 

  

	36.3	 COLLABORATOR shall act as the Data Controller in respect of any Personal Data Processed by Catapult on behalf
of COLLABORATOR in connection with this Agreement, the Project and/or Inputs and in compliance with COLLABORATOR’s obligations as such under the Act. Nothing in this Clause 36 relieves Catapult of its own obligations as Data Processor under the
Data Protection Legislation; some of the material Processing it will perform, including examples of the Personal Data and categories of data subject connected to this Processing, is broadly (but not exhaustively) set out in the Catapult Data
Processing Summary in Schedule 11 to the rear of this Agreement. 

  

	36.4	 Insofar as COLLABORATOR provides or otherwise makes available Personal Data to Catapult and such Personal Data
is Processed by Catapult, or if Catapult is required to Process Personal Data on behalf of COLLABORATOR in connection with this Agreement, the Project and/or Inputs, COLLABORATOR shall ensure that it has all rights, consents and authority to permit
Catapult to lawfully Process such Personal Data and will comply with applicable Data Protection Legislation generally including ensuring that all Personal Data provided or otherwise made available pursuant to this Agreement to Catapult is:

 (a) adequate, relevant and limited to what is necessary for Catapult to discharge its obligations, and to enjoy its
rights under this Agreement; and 

  
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 (b) accurate and, where necessary, kept up to date. 

 

	36.5	 In so far as Catapult Processes any Personal Data on behalf of COLLABORATOR, Catapult shall:

  

	 	36.5.1	 Process the Personal Data on behalf of COLLABORATOR only to the extent necessary for performing this Agreement
and only in accordance with the specific written instructions of COLLABORATOR (save to the extent that Catapult considers that such instructions infringe the Data Protection Legislation, in which case Catapult shall notify COLLABORATOR) or as
required by any regulator or Applicable Law; 

  

	 	36.5.2	 not otherwise modify, amend or alter the contents of the Personal Data or disclose or permit the disclosure of
any of the Personal Data to any third party unless: (i) specifically authorised in writing by COLLABORATOR or (ii) required in order for Catapult to perform its obligations under this Agreement or enjoy its rights under this Agreement
(including where such obligations are sub-contracted to a third party); 

  

	 	36.5.3	 implement appropriate technical and organisational methods to maintain the security of such Personal Data and
preventing unauthorised or unlawful Processing and against accidental loss, destruction, damage, alteration or disclosure; 

  

	 	36.5.4	 keep and procure that all of its employees, contractors and agents keep, the Personal Data confidential in
accordance with Catapult’s confidentiality obligations under Clause 13; 

  

	 	36.5.5	 maintain a record of its Processing activities and, at COLLABORATOR’s cost in respect of Catapult’s
out of pocket expenses, provide all information to COLLABORATOR as is reasonably necessary for COLLABORATOR to demonstrate compliance with its obligations pursuant to Article 28 of EU General Data Protection Regulation 2016/679, or any provisions
under equivalent legislation that is implemented in the UK after the date of this Agreement. 

  

	 	36.5.6	 permit audits, including inspections, conducted by or on behalf of COLLABORATOR or its regulators including
permitting audits to the extent that these are demanded by a Regulatory Authority overseeing compliance with the GDPR. To the extent the following do not contravene the conditions imposed by a Regulatory Authority COLLABORATOR will: not conduct more
than one audit per calendar year, give Catapult reasonable (and at least 14 days’) prior written notice of each such audit and ensure that each audit is carried out during Catapult’s normal business hours, so as to cause the minimum
disruption to Catapult’s business and without COLLABORATOR or its auditor having any access to any data belonging to a person other than COLLABORATOR; 

  

	 	36.5.7	 notify COLLABORATOR in writing without undue delay and in any event within 48 hours of discovery of, and
provide reasonable cooperation (at COLLABORATOR’s cost, except where the breach is caused by Catapult or its agents or subcontractors in which case such cooperation will be provided at Catapult’s cost) in the event of, any breach of
security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, Personal Data in Catapult’s possession or control; 

 

	 	36.5.8	 notify COLLABORATOR in writing without undue delay and in any event within ten days of receipt if it receives a
request from a Data Subject to have access to that person’s Personal Data, a complaint or request relating to COLLABORATOR’s obligations under Data Protection Legislation or any other communication relating to the Processing of Personal
Data, in each case where such request, complaint or communication relates directly to the Processing of Personal Data undertaken by Catapult on behalf of COLLABORATOR under or in connection with this Agreement; and 

  
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	 	36.5.9	 insofar as is possible, assist COLLABORATOR (at COLLABORATOR’s cost, except where the complaint or request
arises from Catapult’s, or its agents or subcontractors processing of that Personal Data other than in accordance with Clause 36, in which case such assistance will be provided at Catapult’s cost) in relation to any complaint or request
made by a regulator or data subject in respect of any Personal Data Processed by Catapult on behalf of COLLABORATOR under or in connection with this Agreement. 

 

	 	36.5.10	 at the choice of COLLABORATOR, delete or return all Personal Data to COLLABORATOR promptly after termination or
expiry of this Agreement, and delete all copies of the Personal Data (save to the extent that retention of copies is required by Applicable Law or that electronic copies are made on the Catapult IT systems as part of regular business archiving
activity, but Catapult will ensure that any such archived electronic copies are kept confidential and in compliance with this Clause 36) providing confirmation of such deletion to COLLABORATOR; 

 

	36.6	 COLLABORATOR authorises Catapult to transfer Personal Data outside of the European Economic Area on condition
that Catapult shall: 

  

	 	36.6.1	 provide an adequate level of protection to any Personal Data that is transferred outside of the EEA (which may
include ensuring that the entity located outside the EEA to which Personal Data is transferred enters into the standard contractual clauses for the transfer of Personal Data from the EU to processors in third countries); and 

 

	 	36.6.2	 comply with any other reasonable instructions notified to it by COLLABORATOR, 

in any event, Catapult confirms that its subcontractors with respect to LIMS and eQMS do not process such Personal Data outside of the
European Economic Area. 
  

	36.7	 COLLABORATOR authorises Catapult to engage other Data Processors and
sub-processors in respect of any Personal Data Processing that is undertaken in connection with this Agreement and in accordance with its terms. Where a sub-processor is
duly engaged to carry out specific Processing activities on behalf of COLLABORATOR, Catapult shall ensure that it enters into a written contract with such sub-processor containing data protection obligations
no less onerous than those set out in this Clause 36 which shall apply to the sub-processor. Catapult shall remain liable for the acts and omission of any such
sub-processor. 

  

	36.8	 Catapult shall without undue delay (and in any event within 48 hours of it becoming aware) notify COLLABORATOR
in the event that it becomes aware of any breach of the Data Protection Legislation by Catapult or any of the subcontractors of Catapult in connection with this Agreement. 

 

	36.9	 Subject to Clause 16.6, COLLABORATOR agrees that Catapult shall have no liability (whether in contract, tort,
misrepresentation, restitution, under statute or otherwise, including under any indemnities, in each case howsoever caused including if caused by negligence) to COLLABORATOR in connection with any act and/or omission by Catapult to the extent that
the liability arises from: 

 (a) any breach of the Data Protection Legislation by COLLABORATOR; or 

(b) any breach by COLLABORATOR of its obligations under this Clause 36; or 

(c) Catapult complying with any written instructions from COLLABORATOR in accordance with Clause 36.5.1. 

 

	36.10	 Subject to Clause 16.6, Catapult agrees that COLLABORATOR shall have no liability (whether in contract, tort,
misrepresentation, restitution, under statute or otherwise, including under any indemnities, in each case howsoever caused including if caused by negligence) to Catapult in connection with any act and/or omission by COLLABORATOR to the extent that
the liability arises from: 

 (a) any breach of the Data Protection Legislation by Catapult; or 

  
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 (b) any material breach by Catapult of its obligations under this Clause 36

  

	36.11	 As of the date of this Agreement the Parties acknowledge that no Personal Data has been provided, and that
they do not intend to provide Personal Data from either of them to the other but that if this changes they agree they will enter into an amendment to record any change in Schedule 11. 

 

	37.	 JOINT AND SEVERAL OBLIGATIONS.  

COLLABORATOR covenants and agrees to incorporate and registered a wholly owned subsidiary in England & Whales (the
“SUB”). COLLABORATOR will procure that the SUB shall be jointly and severally liable with respect to the obligations of COLLABORATOR under this Agreement by causing the SUB to execute a Joinder Agreement in the form attached in
Schedule 17 to confirm its joint and several liability hereunder as soon as practicable following formation of the SUB. 
  

	38.	 NON-SOLICITATION 

During the Term and for a period of twelve (12) months following any termination or expiration of this Agreement, each Party agrees, on
behalf of itself and its Affiliates, not to solicit for employment, employ or otherwise retain any employee of the other Party or its Affiliates except with the prior written consent of the other Party; provided, however, that it will not be a
violation of the non-solicitation obligation of this Section 38 (Non-Solicitation) if an employee of the other Party responds to an indirect solicitation (e.g.,
advertisements in media of general circulation). 
 [Signature Page Follows] 

  
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 SCHEDULE 1 

WORK STREAMS 
  

	1.	 Development and operation of a COLLABORATOR-operated Manufacturing Space facility for GMP manufacture of
COLLABORATOR product, including QMS and QC which will be governed under a separate agreement 

  

	2.	 Development and operation of aspects of a multi-product manufacturing centre and its associated quality
management system that are connected with the production of the COLLABORATOR’s Product 

  

	3.	 Development and operation of a supply and distribution chain in connection with Work Stream 1

  
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 SCHEDULE 2 

Part 1 - Occupation of Module 
  

	1.	 Definitions 

In this Schedule 2: 
  

	 	•	 	 “Co-location Fee” means the aggregate of the Facility
Contribution and Business Rates payable under clauses 8.1.1 and 8.1.2 of this Agreement.  

  

	 	•	 	 “end of the Licence Period” means the expiry of the Term or its earlier termination pursuant to
Clause 17 or 18 of this Agreement and “Licence Period” will have the same meaning as “Term”. 

  

	2.	 Occupation of the Module  

Catapult permits COLLABORATOR to occupy the Module for the Permitted Use from the later of: (a) the Occupation Date and (b) the date that the QTA is
agreed, and entered into by the Parties, until the end of the Licence Period in common with Catapult and all others authorised by Catapult (so far as this is not inconsistent with the rights given to COLLABORATOR to use the Module for the Permitted
Use) together with the rights mentioned in Part 2 of this Schedule and subject to the rights reserved to Catapult in Part 3 of this Schedule and subject further to payment of the Co-location Fee in accordance
with Clause 8 of this Agreement. 
 Applicable only when a COLLABORATOR is party to Collaboration Agreements for 2 (two) adjoining modules which share a
Restricted Access Area, will COLLABORATOR be provided with exclusive use of and access to the Shared Restricted Access Area between the two modules belonging to COLLABORATOR. For the avoidance of doubt, access to the PAL, MAL and PrAL of the Shared
Restricted Access Area is restricted to COLLABORATOR, Catapult and their subcontractors via electronic access control. Access to the grade C corridor of the Shared Restricted Access Area is restricted to COLLABORATOR, Catapult and their
subcontractors via Standard Operating Procedures. Catapult permits COLLABORATOR to employ the PrAL for their own purposes, in-line with Centre policies. 

 

	3.	 COLLABORATOR’s Covenants and Acknowledgement 

 

	3.1	 COLLABORATOR covenants with Catapult as follows: 

 

	 	3.1.1	 to keep the Module clean, tidy and clear of rubbish; 

 

	 	3.1.2	 not to use the Module other than for the Permitted Use; 

 

	 	3.1.3	 not to make any alteration or addition to the Module or the Centre without the prior written consent of
Catapult; 

  

	 	3.1.4	 not to display any advertisement, signboards, nameplate, inscription, flag, banner, placard, poster, signs or
notices at the Module or elsewhere in the Centre (that is not on agreed signage areas) without the prior written consent of Catapult, such consent not to be unreasonably withheld or delayed; 

 

	 	3.1.5	 not to do or permit to be done in the Module anything which is illegal or which may be or become a disruption,
nuisance (whether actionable or not), annoyance, inconvenience, or disturbance to Catapult, or to other occupiers of the Centre or to the owner or occupier of neighbouring property; 

 

	 	3.1.6	 not to cause or permit to be caused any damage (other than general wear and tear as would be expected from
general usage of the Module over time for the Permitted Use) to: 

  

	 	3.1.6.1	 the Module, Centre or any neighbouring property; or 

 

	 	3.1.6.2	 any property of the owners or occupiers of any neighbouring property; 

  
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	 	3.1.7	 not to obstruct the Common Access Areas, make them dirty or untidy or leave any rubbish on them and to
otherwise keep the Common Access Areas free and clear of any equipment, materials or personal property of COLLABORATOR; 

  

	 	3.1.8	 not to apply for any planning permission in respect of the Module unless agreed in advance in writing with
Catapult; 

  

	 	3.1.9	 not to do anything that will or might constitute a breach of any Applicable Law affecting the Centre or which
will or might vitiate in whole or in part any insurance effected by Catapult in respect of the Centre from time to time and, in the case of the latter, to the extent that Catapult has made COLLABORATOR aware in writing of such requirements under its
insurance; 

  

	 	3.1.10	 (in as much as this applies to COLLABORATOR as the end user of any such supplies) to comply with all laws and
with any recommendations of the relevant suppliers relating to the supply and removal of electricity, gas, water, sewerage, telecommunications and data and other services and utilities to or from the Module; 

 

	 	3.1.11	 to observe any rules and regulations Catapult makes and notifies to COLLABORATOR from time to time in writing
governing COLLABORATOR’s use of the Module and the Common Access Areas; and 

  

	 	3.1.12	 not to do anything on or in relation to the Module and the Centre that would or might cause Catapult to be in
breach of Catapult’s covenants and the conditions contained in the Lease, repeated, for reference, in Schedule 1 to this Agreement; and 

  

	 	3.1.13	 to comply with Catapult’s reasonable requests for cooperation with respect to any further development of
the Centre and the Module and not to raise any objection to any noise and disturbance resulting from such further development on condition Catapult uses reasonable endeavours to minimise any disruption to the COLLABORATOR’s activities within
the Module and the Centre. 

  

	3.2	 COLLABORATOR acknowledges that: 

 

	 	3.2.1	 Catapult is entitled to exclusive control and possession of the Centre and the Module and nothing contained in
this Agreement creates any relationship of landlord and tenant or any other relationship other than that of a licensor and licensee between Catapult and COLLABORATOR; and 

 

	 	3.2.2	 this Agreement is personal to COLLABORATOR and is not assignable, and the rights set out in Schedule 2 may
only be exercised by COLLABORATOR and its employees. 

  

	4.	 Relocation of Module 

 

	5.	 Catapult will be entitled, upon not less than 6 months’ written notice to Collaborator, from time to time,
to relocate COLLABORATOR to a different location within the Centre provided that 

 (a) relocation is not decided upon
based on the requirements of any single other collaborator; (b) Catapult has first considered all reasonable alternatives to relocation, while discussing such alternatives with Collaborator; (c) any relocation does not affect
Collaborator’s ability to continue manufacture, release and/or make shipment of Collaborator products in accordance with applicable law; (d) Catapult provides written notification to Collaborator of its intention to relocate Collaborator,
(e) Collaborator is permitted to continue occupation of the Module for 3 months in tandem with that of the proposed replacement module for the latter 3 months of the 6 month notice period to enable a smooth handover, (f) the alternative
module is in all material respects (including size, access and facilities) the same as the Module, (g) the costs and expenses incurred in relocating Collaborator shall be borne by Catapult. 

  
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	6.	 Termination  

  

	6.1	 At the end of the Licence Period: 

 

	 	6.1.1	 COLLABORATOR’s rights to occupy the Module will automatically terminate; 

 

	 	6.1.2	 COLLABORATOR will leave the Module in the same state and condition (taking into account normal “wear and
tear” usage), with all fixtures, fittings and equipment as were provided to it by Catapult as recorded in the Schedule of Condition and Inventory referred to at Schedule 7. 

 

	6.2	 The termination of COLLABORATOR’s rights to occupy the Module will be without prejudice to any subsisting
breach of COLLABORATOR’s obligations contained in this Schedule. 

 Part 2 – Rights granted to COLLABORATOR 

The following rights are granted to COLLABORATOR in common with Catapult, any person authorised by Catapult and all Other Collaborators and occupiers of the
Centre but subject to Catapult’s rights: 
  

	7.	 Running of services 

To connect to and use the existing service media at the Centre for the passage of supplies to and from and to the Module. 

 

	8.	 Access and servicing 

 

	8.1	 Access to and from the Module on foot only over the Common Access Areas from time to time designated by
Catapult for COLLABORATOR’s use. 

  

	8.2	 To use any service area from time to time designated by Catapult for COLLABORATOR’s use for loading and
unloading and otherwise servicing the Module and the service roads with or without vehicles to come and go to and from that service area. 

  

	9.	 Refuse disposal 

To deposit rubbish in any receptacles or waste compactors within the Common Access Areas provided by Catapult for that purpose and designated
by Catapult for the use of COLLABORATOR. 
  

	10.	 Support and shelter 

Support and shelter for the Module from the Centre. 
  

	11.	 Parking 

Use of parking spaces available for COLLABORATOR’S specific use, the location of which may be
re-designated by Catapult from time to time, 
  

	12.	 Signage 

To exhibit COLLABORATOR’s name in such form, shape and size as approved by Catapult and COLLABORATOR in writing. 

 

	13.	 Toilet facilities 

To use any toilet facilities within the Common Access Areas designated by Catapult as facilities for the use of COLLABORATOR. 

 

	14.	 Escape 

On foot only, in emergencies and for fire escape drills, to use all fire escape routes in the Centre designated by Catapult for the use of
COLLABORATOR whether or not forming part of the Common Access Areas. 

  
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	15.	 QC Lab Space 

COLLABORATOR may at any time request access to, and use of any available of QC Lab Space; Catapult may, reserving its sole discretion, grant
access to, and use of such QC Lab Space as may be available at the time of request. 
 Part 3 – Rights reserved to Catapult 

The following rights are excepted and reserved to Catapult and all those authorised by Catapult: 

 

	16.	 Support, shelter, light and air 

 

	16.1	 Support and shelter for the remainder of the Centre from the Module. 

 

	16.2	 All rights of light or air to the Module that now exist or that might (but for this reservation) be acquired
over any other land. 

  

	17.	 Running of services 

The passage and running of Supplies from and to the remainder of the Centre through existing Conducting Media (if any) within the Module. 

 

	18.	 Entry on to the Module 

 

	18.1	 To enter the Module during regular business hours and on not less than 24 hours prior notice, but excluding any
period in which COLLABORATOR Products are being manufactured in the Manufacturing Space (unless access is required in order for Catapult to fulfil any obligations under the QTA when no notice will be required) for any purpose including (without
limitation) to: 

  

	 	18.1.1	 estimate the current value or rebuilding cost of the Centre for insurance or any other purpose;

  

	 	18.1.2	 install, inspect, clean, maintain, replace and to take readings from metering equipment, heat cost allocators
and thermostatic radiator valves within or relating to the Module and to prepare an energy performance certificate; and 

  

	 	18.1.3	 do anything that Catapult is expressly entitled or required to do under this Agreement or the Lease or for any
other reasonable purpose in connection with this Agreement including to inspect the state of repair and condition of the Module. 

  

	 	18.1.4	 To enter the Module to carry out any works to the Module to improve their environmental performance.

  

	 	18.1.5	 If the relevant work cannot be reasonably carried out without entry onto the Module, to enter them to:

  

	 	18.1.5.1	 build on or into any boundary or party walls on or adjacent to the Module; 

 

	 	18.1.5.2	 inspect, clean, maintain, repair, alter, decorate, rebuild or carry out works upon the Centre;

  

	 	18.1.5.3	 carry out any of the necessary inputs; or 

 

	 	18.1.5.4	 for any other reasonable management purpose. 

 

	19.	 Common Access Areas and Conducting Media 

 

	19.1	 In an emergency, or when works are being carried out to them, to close off or restrict access to the Common
Access Areas, so long as (except an emergency) alternative facilities are provided that are not materially less convenient. 

  

	19.2	 To change, end the use of or reduce the extent of any Common Access Areas or Conducting Media so long as
alternative facilities are provided that are not materially less convenient or, if no alternative is provided, the use and enjoyment of the Module is not materially adversely affected. 

  
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	20.	 Adjoining Property 

To carry out works of construction, demolition, alteration or redevelopment on Centre and any adjoining property (and to permit others to do
so) as Catapult in its absolute discretion considers fit (whether or not these works interfere with the flow of light and air to the Module). 
  

	21.	 Plant, equipment and scaffolding 

The right, where necessary, to bring plant and equipment onto the Module and to place scaffolding and ladders upon the exterior of or outside
any buildings on the Centre (including the Module). 

  
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 Part 4: Plans of the Module and the Centre 

[***] 

  
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 SCHEDULE 3 

Contributions – Initial Budget based on projected Full Occupancy Cost Base 

 

					
		 		  	Contributions
	1.	 	 Facility Contributions
	  	[***]
	2.	 	 Business Rates
	  	[***]
	3.	 	 Integral Inputs Contribution
	  	[***]
	4.	 	 Establishment Input Contribution
	  	[***]

  
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 SCHEDULE 4 

Catapult Background Intellectual Property 
  

	 	•	 	 Centre design (under licence from a third-party design firm) 

 

	 	•	 	 QMS structure and content 

 

	 	•	 	 Operating procedures (including, but not limited to: Warehouse; Common areas; Interactions with multiple
collaborators; On-boarding process, Process transfer) 

  

	 	•	 	 Cleaning and decontamination validation 

  
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 SCHEDULE 5 

Code of Conduct 
 COLLABORATOR Agrees To:

  

	 	(a)	 Operate in a manner consistent with EU GMP to maintain a compliant multiproduct environment;

  

	 	(b)	 Operate in the spirit of the Collaboration; 

 

	 	(c)	 Respect the confidentiality, privacy and operations of Other Collaborators; 

 

	 	(d)	 Wherever possible utilise the common infrastructure offered by the collection of cell and gene therapy
related organisations in the local area, and nationally (the “Cluster”) in order to increase the benefits of the collaboration, and augment Cluster development, including the development of infrastructure connected with the Cluster ;

  

	 	(e)	 Maintain an environment within its Module in accordance with any procedures governing the Centre’s
operation and the terms of occupation; 

  

	 	(f)	 Adhere to facility quality policies and protocol; 

 

	 	(g)	 Adhere to roles and responsibilities as detailed in the Quality Technical Agreement

  

	 	(h)	 Abide by incident reporting requirements communicated by Catapult; and 

 

	 	(i)	 Operate in compliance with all appropriate environment, health and safety requirements (both national
and local). 

  
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 Schedule 6 

New Business Introduction and On-boarding 

Introduction 
 The Catapult is committed to providing
excellence in new business introduction for our collaborators. The following objectives underpin the Catapult’s new business introduction philosophy: 
  

	 	•	 	 To guarantee that new business is introduced in accordance with our collaborators’ expectations;

  

	 	•	 	 To manage the new business introduction process to add value for our collaborators and for Catapult;

  

	 	•	 	 To ensure that new business introductions meet the requirements of the Catapult Quality and EHS policies;

  

	 	•	 	 To be open, honest and accurate in all of our new business introduction communications. 

To develop excellence in our employees through the development of world class project management skills. 

The new business introduction process for the Centre is divided into (i) a selection process, (ii) a negotiation phase on a Heads of Terms basis and
a subsequent Collaboration Agreement and (iii) the On-boarding phase. 
 Summary of the Selection process

 The new business introduction process starts with the interest of a potential new collaborator in joining the Centre. After signing a CDA
(Confidential Disclosure Agreement) Catapult will provide COLLABORATOR with a ‘Pre-Screen Questionnaire’ to complete. This document allows Catapult to assess whether the COLLABORATOR and the planned
Collaborator Product(s) meet the requirements of the Centre’s standards. The process should ensure a smooth transition to the negotiation phase of the Collaboration Agreement from a quality and operational perspective. 

The On-boarding process for introduction of COLLABORATOR Product and Process into the Module is detailed in the
Establishment Input Statement 

  
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 Schedule 7 

Schedule of Condition and Inventory of Module Fixtures and Fittings 

To be provided under cover of a separate document, signed by both Parties immediately prior to, or contemporaneously with occupation, but incorporated into
this Schedule 7 by reference. 

  
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 Schedule 8 

Warehouse and Procurement Management Provisions 
  

	1.	 General 

  

	 	1.1	 Catapult is responsible for operating the warehouse area & processes in a GMP compliant manner. In
summary this includes goods in, common consumables stock and COLLABORATOR owned stock, storage, picking, delivery and final product storage. 

  

	 	1.2	 Catapult is responsible for the EHS within the warehouse and monitoring storage temperatures.

  

	 	1.3	 The Centre warehouse is an access controlled area limited to authorised Catapult personnel. COLLABORATOR
personnel can only access the warehouse when accompanied by Catapult personnel. 

  

	 	1.4	 Catapult will man the warehouse during Office Hours each week day (excluding bank holidays).

  

	 	1.5	 Catapult will provide a 24/7 call-out system for unexpected out of
Office Hours’ deliveries, etc.as an Additional Input 

  

	 	1.6	 Catapult may facilitate access to additional warehousing outside of the Centre if required by COLLABORATOR and
subject to additional contributions. 

  

	 	1.7	 All COLLABORATOR equipment, samples and materials must enter the Centre through the Centre’s goods in
warehouse entrance. Samples and materials will be booked onto the Catapult Warehouse management system. 

  

	 	1.8	 Transfer to the Manufacturing Space of all COLLABORATOR equipment, samples and materials must be formally
authorised by Catapult personnel. 

  

	 	1.9	 The Centre is considered a forward picking area and as such warehouse space is limited. 

 

	 	i.	 Catapult will maintain a stock of common consumables. 

 

	 	(i)	 Each COLLABORATOR will have allocated storage at ambient temperature (15°C to 25°C), 2-8oC, -20oC, -80oC and LN2 for their raw materials, product contact equipment & excipients. Catapult will be responsible for the qualification (IQ and OQ plus equipment-specific PQ with the units under load),
monitoring, maintenance and functioning of the storage equipment and areas. Any COLLABORATOR-specific PQ will be an Additional Input. 

  

	 	ii.	 Visibility of the COLLABORATOR’s inventory is through the warehouse management system (initially a paper
based system).. Each collaborator will only have visibility of their inventory items. 

  

	2.	 Common consumables stock 

 

	 	2.1	 CATAPULT will maintain a stock of an agreed list of commonly used consumables. 

 

	 	2.2	 CATAPULT will be responsible for purchasing this stock or arranging a consignment stock with external vendors
for direct purchase by COLLABORATOR, maintaining stock levels, undertaking the appropriate QC & putting the stock away. 

  

	 	2.3	 CATAPULT will invoice the COLLABORATOR for the stock used and purchased by the COLLABORATOR

  

	 	2.4	 CATAPULT personnel will transfer the consumables to the COLLABORATOR’’s Grade C MAL staging area once
a day or as agreed. 

  

	 	2.5	 Common consumables stock will not be segregated between collaborators. 

 

	3.	 COLLABORATOR owned inventory 

 

	 	3.1	 COLLABORATOR is responsible for the management of its own inventory supply chain including sourcing &
auditing suppliers, price negotiation, purchasing and insurance. 

  

	 	3.2	 Before purchasing any stock to be stored in the Centre, COLLABORATOR is responsible for providing a list of the
inventory they will store & use within the Centre. Catapult reserves the right to reject any inventory item that is not in compliance with CATAPULT policies & procedures e.g. EHS 

 

	 	3.3	 COLLABORATOR is responsible for the completion & submission of a Material Specification for each item
which will include such information as product container size, weight, required stock level, minimum stock level, QC sampling and testing regime. 

  

	 	3.4	 CATAPULT will be responsible for notifying COLLABORATOR when the stock has reached its minimum stock level. The
stock will then be re-ordered by COLLABORATOR. 

  

	 	3.5	 COLLABORATOR must give at least 48 hours’ notice of a delivery of their items, and must be delivered
during the Office Hours unless by prior agreement. 

  

	 	3.6	 CATAPULT personnel will book the goods into the Warehouse management system, attach appropriate labels,
undertake the initial goods inspection, notify COLLABORATOR of the goods receipt (and promptly notify COLLABORATOR of any issues identified on initial goods inspection) and place the goods in a location. Catapult will store COLLABORATOR inventory in
a separate location from that of other Collaborators 

  

	 	3.7	 COLLABORATOR is responsible for the management of all retention samples. 

 

	 	3.8	 COLLABORATOR will be responsible for the Quality Control (QC) of their inventory & Pass labelling.

  
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	 	3.9	 If the products fail QC then COLLABORATOR personnel will be responsible for attaching Reject labels. CATAPULT
personnel will transfer these Reject products to the relevant Reject product storage area. CATAPULT will store these Reject products for up to 30 days during which time it is expected that the COLLABORATOR will arrange appropriate disposal. If this
is not arranged CATAPULT will manage the appropriate disposal with additional costs being charged to the COLLABORATOR. 

  

	4.	 Picking & delivery of stock for the COLLABORATOR 

 

	 	4.1	 For non-batch related common consumables stock such as clean room
clothing CATAPULT manage the supply of these items. 

  

	 	4.2	 For batch specific common consumables and for COLLABORATOR owned materials, COLLABORATOR will provide CATAPULT
with a Bill of Materials (BoM) and a schedule identifying when the full or part BoMs are required. 

  

	 	4.3	 A member of the COLLABORATOR staff will formally receive the BoM. If there are any queries or discrepancies
with the BoM these will be highlighted & addressed at this time. 

  

	 	4.4	 For Biological material or cold-stored items, through prior arrangement, the COLLABORATOR with a CATAPULT
representative will pick and transfer these items to the Manufacturing Space. 

  

	5.	 Final Product storage 

 

	 	5.1	 The Centre will provide final product and product intermediate storage at the following temperatures:

  

	 	i.	 -20oC 

 

	 	ii.	 -80oC 

 

	 	iii.	 LN2 (vapour phase) 

  

	 	5.2	 The final product (or any intermediate thereof as requested by COLLABORATOR) will be stored in
multi-collaborator storage equipment unless by previous agreement 

  

	 	5.3	 COLLABORATOR can store final product in these storage areas for up to 44 days unless by agreement as an
Additional Input for which there may be an Additional Contributions payable. 

  

	 	5.4	 Access to the product storage areas will be strictly controlled and will only be possible when accompanied by
an appropriately trained and authorised CATAPULT representative 

  

	 	5.5	 Centre will be responsible for the qualification and maintenance of all equipment in this area including the
temperature monitoring system and 24/7 emergency cover 

  

	6.	 Drug Substance (DS) or Drug Product (DP) packing area 

 

	 	6.1	 CATAPULT will provide either a supervised GMP packing area or perform GMP packing. 

 

	 	6.2	 CATAPULT will provide an area to charge dry shippers with liquid nitrogen. 

 

	 	6.3	 CATAPULT will provide storage area for a reasonable supply of packing materials and boxes.

  

	7.	 Drug Substance (DS) or Drug Product (DP) shipping 

 

	 	7.1	 If required CATAPULT will provide access to cold chain GMP compliant courier service. 

 

	8.	 Examples of the warehouse & logistics Additional Inputs not included within Integral
or Activity Related Inputs 

  

	 	8.1	 Out of hours support. 

 

	 	8.2	 Sampling of COLLABORATOR raw materials. 

 

	 	8.3	 QC analysis of COLLABORATOR raw materials. 

 

	 	8.4	 Auditing the COLLABORATOR supply chain. 

 

	 	8.5	 Purchasing the COLLABORATOR raw materials. 

 

	 	8.6	 Storing COLLABORATOR raw materials or starting materials for longer than the specified period.

  

	 	8.7	 Managing and storing retention samples. 

 

	 	8.8	 GMP packing. 

  

	 	8.9	 Arranging GMP shipping service through a GMP compliant logistics service provider. 

 

	 	8.10	 Offsite additional storage space. 

  
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 Schedule 9 

Environmental Monitoring Schedule 

Introduction 
 Catapult is committed to providing and
maintaining manufacturing and manufacturing support environments that are fit for their intended purpose with regard to air quality. These environments will be appropriately controlled and monitored based on the room classification requirements
defined in Eudralex Volume 4 Annex 1. This will be achieved by: 
  

	 	•	 	 The regular application of qualified cleaning procedures to all GMP environments within the Centre

  

	 	•	 	 The training and qualification of personnel to assure the consistent and appropriate execution of gowning and de-gowning procedures 

  

	 	•	 	 The development of and adherence to an appropriate environmental monitoring program 

 

	 	•	 	 Regular reporting and trending of data generated by the program 

 

	 	•	 	 The creation and dissemination of procedures for the appropriate handling of starting materials, raw materials,
consumables, samples, in-process and final product and waste within the manufacturing facility 

Summary of the environmental monitoring process 
  

	 	•	 	 The environmental monitoring (EM) program will be established by CATAPULT to comply with the requirements of
Eudralex Volume 4 Annex 1 – Manufacture of sterile medicinal products. 

  

	 	•	 	 CATAPULT Quality will establish and periodically reassess (based on historical data) action and alert limits for
EM test result values or all types of monitoring. 

  

	 	•	 	 CATAPULT will supply and perform routine calibration and servicing of the following calibrated EM sampling and
measuring equipment per module for COLLABORATOR use, unless COLLABORATOR elects to employ their own monitoring equipment within isolators. 

  

	 	•	 	 3 portable active air samplers (for ‘in-operation’ viable air
monitoring) 

  

	 	•	 	 3 portable non-viable particulate monitors 

 

	 	•	 	 5 fixed sampling points and associated non-viable particulate monitors

  

	 	•	 	 Catapult will maintain a stock in the Catapult warehouse of all the necessary consumables to facilitate
COLLABORATORs to undertake viable ‘in-operation’ environmental monitoring (including sufficient TSA & SDA settle plates and contact plates to cover monitoring of the entire daily processing
period). 

  

	 	•	 	 Responsibility for the execution of the manufacturing facility environmental monitoring program will be shared
between Catapult and the COLLABORATORs per the QTA: 

  
 

 

  
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	 	•	 	 When requested by COLLABORATOR staff, CATAPULT Technical Services staff are responsible for the delivery of EM
consumables to the relevant Materials Air Lock of the COLLABORATOR’s Manufacturing Space 

  

	 	•	 	 COLLABORATOR collected EM samples should be appropriately labelled and packaged immediately subsequent to
exposure. 

  

	 	•	 	 When requested by COLLABORATOR staff, CATAPULT Technical Services staff are responsible for the collection of
exposed EM samples, their transportation to CATAPULT QC Microbiology, documentation of their receipt and transfer to QC staff for storage prior to testing. 

  

	 	•	 	 CATAPULT QC Microbiology staff are responsible for the appropriate processing of EM samples (incubation,
enumeration and speciation as required), documenting the results and providing trended data to COLLABORATOR. 

  

	 	•	 	 All Manufacturing Space specific EM data and that collected from sampling of the common Centre areas will be made
available to individual collaborators. 

  

	 	•	 	 Data will be presented per specific EM session and as a trend graph on a mutually agreed frequency. Data will
include the results of any speciation undertaken as a result of an action or alert limit breach. 

  

	 	•	 	 Alert limit breach trends and any action limit breaches will result in CATAPULT QC staff raising a record in the
Quality Management System to document the event, investigate root cause (with COLLABORATOR assistance if appropriate) and identify the appropriate preventative and corrective actions necessary to mitigate the risk of recurrence.

  
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 Schedule 10 

IT infrastructure 
 The Centre will
accommodate several collaborators consecutively, each of whom could potentially use the Centre in a different way. 
 The underlying IT infrastructure has
been configured for each module to have its own self-contained secure network. This will allow independent network scenarios, the configuration of these requirements will be carried out, administered and monitored by CATAPULT IT staff. 

COLLABORATOR will have its own dedicated secure virtual local area networks (VLANs). Catapult will provide COLLABORATOR all documentation related to the VLAN,
including but not limited to, information regarding it’s: configuration, patching, and administration. 
 All collaborators will however be subject to
the CATAPULT’s information security policy. 
 Internet provision is not provided as standard however we can provide the following: 

 

	 	•	 	 Synchronous fibre broadband provided by CATAPULT at current market rates. 

 

	 	•	 	 COLLABORATOR supplies their own internet connectivity subject to wayleave 

 

	 	•	 	 COLLABORATOR organises their own lease Line (PPTP) connectivity between their own sites and the Centre, subject
to wayleave. 

 Server infrastructure can also be provided by CATAPULT, the options that are available are as follows: 

 

	 	•	 	 Physical server on the premises – This will be located in one of our communications rooms with restricted
access (all access will be accompanied by CATAPULT IT staff) 

  

	 	•	 	 Virtual server on the premises – This will be located in the CATAPULT virtual environment; remote access
will be provided to the COLLABORATOR – SSL VPNs will be provided for access from external sites. 

  

	 	•	 	 Virtual server in private cloud – This will be located on CATAPULT `s own private cloud; remote access will
be provided to COLLABORATOR – SSL VPNs will be provided for access from external sites. 

 If COLLABORATOR does not wish to use the
options above, CATAPULT may offer, subject to availability and feasibility, the following option: 
  

	 	•	 	 Physical / Virtual server on COLLABORATOR’s own site – An SSL site to site Tunnel will be provided with
access controlled by dedicated VLAN`s 

  
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 Schedule 11 

Catapult Data Processing Summary 
 This
Schedule 11 includes certain details of the Processing of Personal Data as required by Article 28(3) GDPR. 
  

	1	 Controller 

[***] 
  

	2	 Processor 

[***] 
  

	3	 Subject matter and duration of processing 

[***] 
  

	4	 Nature and purpose of processing 

[***] 
  

	5	 Types of Personal Data (including special categories of data, where applicable) 

The Personal Data Processed concern the following categories of data: 

[***] 
  

	6	 Categories of data subjects 

The Personal Data Processed concern the following categories of Data Subjects: 

[***] 
  

	7	 Obligations and rights of the Controller 

[***] 

  
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 Schedule 12 

Module and Centre Specifications 
 Part
A: Manufacturing Space Specification 
 It : 
  

	 	•	 	 Is part of a UK-licensed EU-GMP-compliant facility developed in close relationship with the Medicines and Healthcare Products Regulatory Agency 

 

	 	•	 	 is of a design, construction, fit and finish in compliance with governing environment, health and safety
legislation; 

  

	 	•	 	 was designed, built, fitted and finished in compliance with Applicable Law including 2001/83/EC and 2001/20/EC;

  

	 	•	 	 has individual personnel access control 

 

	 	•	 	 includes a positive pressure maintained cleanroom with production area of not less than 86m2 and a culture
room of not less than 15m2; 

  

	 	•	 	 has appropriate pressure cascades with negative pressure sinks in all entry and exit routes to minimise the risk
of ingress and/or egress of contamination; 

  

	 	•	 	 has walk-on ceilings and a technical corridor; 

 

	 	•	 	 has a high-efficiency particulate arrestance (“HEPA”) filtered HVAC supplying segregated air as single
pass through, with heat recovery; 

  

	 	•	 	 has a gas supply delivered through services plates (details of the service plates are set out in Schedule 7);

  

	 	•	 	 has single and three phase power supply, partly with UPS and emergency generator
back-up, supplied through service plates (details of the service plates are set out in Schedule 7); and 

  

	 	•	 	 has dedicated adjacent material air locks (“MALs”) and dedicated, adjacent personnel air locks
(“PALs”) 

 Part B: Manufacturing Office and Non-Manufacturing Office Specification

 There is: 
  

	 	•	 	 a Manufacturing Office of not less than 15m2 as set out on the Plans with direct access from the controlled, non-classified corridor (CNC); and designed for occupation by 4 people a Non- Manufacturing Office of not less than 28m2 on the first or second floor of the Centre, as set out
in the Plans, and designed for occupation for 2 people 

 Both of these offices: 

 

	 	•	 	 are equipped for normal administrative functions only; 

 

	 	•	 	 areequipped with lighting in line with British standards; 

 

	 	•	 	 have lockable doors compliant with insurers requirements; 

 

	 	•	 	 are furnished with desks, chairs and storage as agreed with the Centre staff, to accommodate the number of
occupants they are designed to house 

  

	 	•	 	 have small power outlets suitable for normal small office equipment use. The electricity usage will be measured
and recharged 

  

	 	•	 	 have service media outlets for IT and Telephones. Internet services can be provided on request and recharged as
appropriate as an Activity Related Contribution; 

  

	 	•	 	 have a telephone for communication with the Catapult. Outgoing calls will be charged at the service
provider’s standard rate; and 

  

	 	•	 	 are heated and cooled from the central Centre systems. Temperature control will be only via the Building
Management System (BMS) under the control of the Centre team. 

  
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 Part C: Centre Specifications 

Facilities include: 
  

	 	•	 	 a 2-8°C cold room 

 

	 	•	 	 a secure cryo storage area 

 

	 	•	 	 a packing and dispatch area; operated in accordance with Schedule 8; 

 

	 	•	 	 a solid waste staging area; 

 

	 	•	 	 a liquid waste staging and disposal area; 

 

	 	•	 	 male and female changing areas to access the controlled non-classified-
(CNC) corridor; 

  

	 	•	 	 PALs in and MALs in to access the grade C corridor; and 

 

	 	•	 	 PrALs to access the CNC corridor 

 

	 	•	 	 PALs out and MALs out to access the CNC corridor 

 

	 	•	 	 a reception area 

  
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 Schedule 13 

Expert Determination 
 Definition

 Expert: a person appointed in accordance with Clause 7.2.5 to resolve a disagreement as to the acceptability of a new product and/or process, and/or
the introduction of any modification to an existing COLLABORATOR Product or Process into the Centre applying the criteria in Clause 7.2.4 OR in accordance with clause 26.2 to resolve a disagreement connected with a change to the schedules listed at
that clause. 
  

	1.	 EXPERT 

  

	1	 An Expert is a person appointed in accordance with this clause to resolve a disagreement as to
the acceptability of a new product or process, and/or the introduction of any modification to an existing COLLABORATOR Product or Process into the Centre. 

  

	2	 The Parties shall agree on the appointment of an independent Expert and shall agree with the Expert the terms
of their appointment. 

  

	3	 If the Parties are unable to agree on an Expert or the terms of their appointment within seven days of either
Party serving details of a suggested expert on the other, either Party shall then be entitled to request the Centre for Effective Dispute Resolution (CEDR) to appoint an Expert of professional repute and for the CEDR to agree with the Expert
the terms of appointment. 

  

	4	 The Expert is required to prepare a written decision including reasons and give notice (including a copy) of
the decision to the parties within a maximum of three months of the matter being referred to the Expert. 

  

	5	 If the Expert dies or becomes unwilling or incapable of acting, or does not deliver the decision within the
time required by this Clause then: 

  

	 	(b)	 either Party may apply to the London Court of International Arbitration to discharge the Expert and to appoint
a replacement Expert with the required expertise; and 

  

	 	(c)	 this Clause shall apply to the new Expert as if they were the first Expert appointed. 

 

	6	 All matters under this clause must be conducted, and the Expert’s decision shall be written, in the
English language. 

  

	7	 The Parties are entitled to make submissions to the Expert including oral submissions and will provide (or
procure that others provide) the Expert with such assistance and documents as the Expert reasonably requires for the purpose of reaching a decision. 

  

	8	 Each Party shall with reasonable promptness supply each other with all information and give each other access
to all documentation and personnel and/or things as the other Party may reasonably require to make a submission under this clause. 

  

	9	 The Expert shall act as an expert and not as an arbitrator. The Expert shall determine the matter under the
agreement. The Expert may award interest as part of their decision. The Expert’s written decision on the matters referred to them shall be final and binding on the parties in the absence of manifest error or fraud. 

 

	10	 The Expert’s fees and any costs properly incurred by them in arriving at their determination (including
any fees and costs of any advisers appointed by the Expert) shall be borne by the Parties equally or in such other proportions as the Expert shall direct. 

  

	11	 All matters concerning the process and result of the determination by the Expert shall be kept confidential
among the Parties and the Expert. 

  

	12	 Each Party shall act reasonably and co-operate to give effect to the
provisions of this clause and otherwise do nothing to hinder or prevent the Expert from reaching their determination. 

  

	13	 The Expert and Nominating Body shall have no liability to the parties for any act or omission in relation to
this appointment; save in the case of bad faith. 

  
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 Schedule 14 

List of Centre Utilities as referenced at Clause 9.1.7 

	
	
	Utility
	
	Natural Gas
	
	Electricity
	
	Water
	
	Sewerage

  
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 Schedule 15 

Collaborator Forums 
 The purposes of the
collaborator forums (the “Forums”) are: 
  

	 	•	 	 to facilitate open and transparent exchange of information between Catapult and collaborators, and between
collaborators, 

  

	 	•	 	 to enable all parties to contribute to the safe, efficient, and successful operation of the Centre, and of the
collaborators’ manufacturing activity, 

  

	 	•	 	 to enable the standards of the centre to be maintained at an appropriate cost. 

The Forums will be supplemented by regular informal ad-hoc meetings and
weekly/bi-weekly surgeries involving Catapult and any collaborator as is necessary. 
 Key objectives of the Forums
include: 
  

	 	1.	 Updating any requirements needed to continue to maintain a suitable level of services for robust operation of a
licensed facility suitable for late stage clinical and commercial manufacture of ATMPs in the most economical way; 

  

	 	2.	 Considering COLLABORATOR input into the relevant aspects of the management and operation of the Centre;

  

	 	3.	 Ensuring Catapult and COLLABORATOR compliance with all relevant Quality, Health & Safety and Legal
requirements; 

  

	 	4.	 Discussing any modifications to any Module or the Centre with the potential to impact any collaborator (Prior
to being raised in the relevant Forum, Catapult will consider all collaborator requests for facility modifications that require any Other Collaborator’s cleanroom to be non-operational for any period of
time, or that affect the facility license and will discuss feasibility with the all Collaborators. For clarity, such modifications should remain part of the notification to collaborators of the agenda for any Collaborator Forum);

  

	 	5.	 Having formal two-way communications between Catapult and collaborators
to discuss common issues; 

  

	 	6.	 Raising awareness of issues and incidents with potential for impact on the Catapult and Other Collaborators;

  

	 	7.	 Encouraging and facilitating the sharing of best practice between collaborators; and 

 

	 	8.	 Examining appropriate ways of managing costs. 

The Forums will be advisory in their nature and initially take place monthly, with their frequency being reviewed/varied as required. However, the frequency
of Forums will be no less than quarterly. 
 The agenda, format, time and venue will be set and reasonable notice given in advance by Catapult, with the
agenda being subject to change based on operational experience and input from collaborators. Relevant issues will be discussed and appropriate recommendations made during the Forums. Outputs of any key decisions that need to be made separately
outside of the Forums will be communicated prior to the following meeting. 
 Key issues and follow-up actions will
be summarised and circulated to all Collaborators by Catapult after each Forum.     
 Collaborators will be fully consulted prior to
any key decisions being made. In recognition of the fact that the Catapult has overall responsibility for the operation of the centre Catapult reserves the right to make the final decision in the best interests of all Collaborators and the Catapult.

 There will be 3 Forums covering 3 key areas, with the relevant Catapult chairs, Catapult leads, and Terms of Reference being summarised in the table
below. 

  
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 The Forums with be separated into 3 key areas, with the relevant Catapult chairs, Catapult leads or their
representatives, and Terms of Reference being summarised in the table below. 
  

							
	 FORUM
	  	 CATAPULT
CHAIR
	  	 CATAPULT
LEAD
	  	 TERMS OF REFERENCE

	  
 Quality Forum
	  	  
 Director of Quality
	  	  
 Head of QA
	  	  

•  Environmental Monitoring Trends

 
 •  Collective discussion of
recent deviations or changes with a shared impact
  

•  Audit findings (internal and external)

 
 •  Audit findings of shared
Vendors
  
 •  Regulatory
Trends
  
 •  Best Practise
Information
  
 •  Training
Requirements
  
 •  Updates to
Facility Management Procedures
  

•  Updates to Foundation Documents

 
 •  Quality Agreement
Compliance

	  
 Health & Safety Forum
	  	  
 Manufacturing Centre Director
	  	  
 H&S Representative
	  	  
 •  Review of
Catapult & collaborator accidents, incidents and near misses since last meeting
  

•  Review of accident, incident and near miss trends

 
 •  Review of collaborators EHS
concerns
  
 •  Catapult H&S
update as it relates to:
  

•  People
  

•  Facilities, offices & equipment

 
 •  Facility modifications

 
 •  Biological &
chemical
  
 •  Contractor
management
  
 •  Catapult
Environmental update
  
 •  New
or updated EHS legislation
  

	  
 Operational Forum
	  	  
 Manufacturing Centre Director
	  	  
 Operations Lead(s)
	  	 •  Summary of current key discussions in the Quality and H&S forum, to ensure
that any business-critical topics receive broad attention
  

•  Catapult general operational updates

 
 •  Collaborator general
operational updates
  
 •  Area
specific issues/updates
  

•  Welfare
  

•  Process
  

•  Equipment
  

•  Materials & Product

 
 •  Waste Management

 
 •  IT

 
 •  Communications

 
 •  Proposed Facility
modifications – requirements and costs
  

•  Schedule for any planned shutdowns

 
 •  People &
Training
  
 •  Budgetary and
resource issues/updates
  

•  Proposed capital expenditure

 
 •  Update on any expected
changes in Integral, Activity Related Input Contributions and Additional Input Contributions
  

•  Staff resources

  
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 Schedule 16 
  

 
 ADDITIONAL INPUT AGREEMENT NO.
[INSERT] 
  
  

This Additional Input Agreement is entered into between TCR2 Therapeutics Inc. (TCR2) and Cell Therapy Catapult Limited in accordance with, and in relation to, the Collaboration Agreement entered into between TCR2 and Catapult and
dated [INSERT] (the “Collaboration Agreement”) [and a licence for alterations entered between TCR2 and Catapult on or about the date of this agreement (“Licence for
Alterations”)]. 
 For the avoidance of doubt this Additional Input Agreement makes no amendments or changes to the Collaboration Agreement other than,
and solely with respect to, the Additional Inputs under this Additional Input Agreement. 
 The Collaboration Agreement is otherwise un-amended and unchanged and shall continue in full force and effect. 
 Collaborator    TCR2 Therapeutics Inc. (“TCR2”)
            TCR2 Manager: [INSERT] 

Catapult:          Cell Therapy Catapult Limited (“Catapult”)
            Catapult statement author: [INSERT] 
 Date of this ADDITIONAL INPUT
AGREEMENT:                      
  

 
 1. Additional Inputs Required: 

a.Title: [INSERT] 
 b.Project scope and
required specification: [INSERT] 
 c. Sub-contracted Works: [INSERT] 

[TCR2 permits the works inserted here to be sub-contracted by
Catapult.] 
 2. Contributions associated with this Additional Input Agreement: 

 

			
	 Inputs
	  	Contributions
	1. [INSERT]	  	£XXX.00
	2. [INSERT]	  	£XXX.00
	3. Sub contracted works as set out in section 1c above	  	£XXX.00
	4. Sub-contracted works as set out in section 1c above	  	£XXX.00
	Total cost without 10% capital & risk charge	  	£XXX.00
	10% capital & risk charge	  	£XXX.00
	TOTAL	  	£XXX.00

  
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 All prices are valid until [INSERT] 

All costs are subject to vat at the prevailing rate 

All costs are subject to a 10% capital and risk charge (itemised in the contributions table above) 

Payment Schedule: 
 Payment will be due within
30 days of receipt of invoice 
  
  

3. Additional terms required as a result of the changes to be made under this Additional Input Agreement: 

[If any of the Works are required to take place outside of normal working hours due to any preference or actions of TCR2, the subcontractors will request an additional payment, which will be charged as a pass-through cost to TCR2.] 

[If any of the Works are required to take place outside of normal working hours in order for Catapult to avoid interference with the normal business
operation of either Catapult or other collaborators, the subcontractors will request an additional payment, which will be charged as a pass-through cost to TCR2 

[Drafter’s Note: Amend as necessary] 
  

 
 4. Responsibility for the specification
and/or design of any works performed as part of the Additional Inputs (“Works”): 
 [The Parties agree that they have worked together to
prepare the correct specifications and/or designs for any Works inserted in this Additional Input Agreement under section 1b (the “Specifications”). 

Catapult will be responsible only with respect to how the Specifications, and the Works themselves are compatible for use within the Module and/or the
Manufacturing Centre. Other than this, Catapult undertakes no liability, and makes no representation or warranty that the Specifications and the Works will be fit for any particular purpose (including with respect to their suitability for TCR2’s Products or Processes, or any other use to which TCR2 will put the Works) or that they will conform with any other specification or quality
standard that is not imposed by a regulatory body or authority governing those works. 
 TCR2 agrees it
will have sole responsibility for ensuring the Specification and the Works will be suitable for the TCR2 Products or Processes, or any other use to which it wishes to put the Works to. 

  
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 All other liability will be governed under the terms of the [Licence for Alterations and] the Collaboration
Agreement (as applicable).] [Drafter’s Note: Amend as necessary] 
 5. Works Acceptance: 

On completion of the Works in accordance with the Specifications set out in Section 1b of this Additional Input Agreement Catapult will issue the final
invoice to TCR2. 
 6. Further Works: 

The Parties agree that as part of the ongoing progress of the Works, further works may be required from time to time that are not included in this Additional
Input Agreement. 
 When the need for such further works arise, Catapult will send an email to
TCR2’s manager (set out in the header of this Additional Input Agreement) (the “TCR2 Manager”) requesting acknowledgment and
formal approval for the further works and attributable costs that will be set out in such email. 

TCR2 confirms [the COLLABORATOR’S manager] is legally authorised to bind it and it agrees that an
email response from the COLLABORATOR’S manager] confirming acceptance of such further works, their scope and their cost will be a legally binding and valid communication from TCR2 confirming
acceptance of such further works and their cost. Catapult confirms that the scope and other terms described within this email will constitute a formal extension of the scope of this original Additional Input Agreement and be subject to the terms of
this original Additional Input Agreement. 
  
  

This Additional Input Agreement is accepted: 
  

									
	 For and on behalf of:
 TCR2 Therapeutics Inc.
	 		 	 For and on behalf of
 Cell
Therapy Catapult Limited

					
	Signed:	 	  
	 		 	Signed:	 	  

					
	Full Name:	 	  
	 		 	Full Name:	 	  

					
	Job Title:	 	  
	 		 	Job Title:	 	  

  
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 Schedule 17 
  

 
 JOINDER AGREEMENT 

 
  

This Joinder Agreement (“Joinder Agreement”) is executed on
                    , 20    , by the undersigned (“NewCo”) pursuant to the Clause 37 of that certain
Collaboration Agreement dated as of December     , 2018 (the “Agreement”), by and among TCR2 Therapeutics Inc. (“COLLABORATOR”) and Cell
Therapy Catapult Limited (“Catapult”). Capitalized terms used but not defined in this Joinder Agreement shall have the respective meanings ascribed to such terms in the Agreement. 

By the execution of this Joinder Agreement, NewCo hereby accepts and becomes a party to the Agreement and shall be jointly and severally
liable for all obligations of COLLABORATOR under the Agreement. 
 AGREED by the duly authorised representative on the date written at the start of
this Joinder Agreement: 
  

									
	 For and on behalf of:

[NEWCO]
	 		 	
					
	Signed:	 	  
	 		 		 	
					
	Full Name:	 	  
	 		 	                	 	
					
	Job Title:	 	  
	 		 		 	

 ACCEPTED and AGREED by the parties through their duly authorised representatives on the date written at the start of
this Joinder Agreement: 
  

									
	 For and on behalf of:
 TCR2 Therapeutics Inc.
	 		 	 For and on behalf of
 Cell
Therapy Catapult Limited

					
	Signed:	 	  
	 		 	Signed:	 	  

					
	Full Name:	 	  
	 		 	Full Name:	 	  

					
	Job Title:	 	  
	 		 	Job Title:	 	  

  
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 Signature Page of Collaboration Agreement 

AGREED by the parties through their duly authorised representatives on the date written at the start of this Agreement: 

 

									
	 For and on behalf of:
 TCR2 Therapeutics Inc.
	 	 For and on behalf of
 Cell
Therapy Catapult Limited

					
	Signed:	 	  
	 		 	Signed:	 	  

	Full Name:	 	Garry E. Menzel	 		 	Full Name:	 	  

	Job Title:	 	President and Chief Executive Officer	 		 	Job Title:	 	  

 END OF DOCUMENT 

  
 62Exhibit 10.1

 

SHARE PURCHASE
AGREEMENT

 

This Share Purchase
Agreement (this “Agreement”) is dated as of December 20, 2018, between Neonode Inc., a Delaware corporation
(the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors
and assigns, a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to Regulation S promulgated under the Securities Act of 1933,
as amended (the “Securities Act”) and/or Section 4(a)(2) of the Securities Act and Rule 506 promulgated thereunder,
or any other available exemption from registration under the Securities Act, the Company desires to issue and sell to each Purchaser,
and each Purchaser, severally and not jointly, desires to purchase from the Company, shares of Common Stock of the Company as more
fully described in this Agreement.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the
meanings set forth in this Section 1.1:

 

“Accredited
Investor” shall have the meaning ascribed to such term in Rule 501 under the Securities Act including as set forth in
Appendix I.

 

“Acquiring
Person” shall have the meaning ascribed to such term in Section 4.5.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(k).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

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

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the U.S. or any day on
which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Certificate
of Incorporation” means the Restated Certificate of Incorporation of the Company.

  

    1

     

    

 

“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1; provided, however, that such closing
shall not be before 9:00 a.m. (New York City time) on the Closing Date.

 

“Closing
Date” means the Trading Day selected by the Company on which all of the Transaction Documents have been executed and
delivered by the applicable parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription
Amount and (ii) the Company’s obligations to deliver the Shares, in each case, have been satisfied or waived.

 

“Commission”
means the U.S. Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

 

“Company
Counsel” means Reed Smith LLP, with offices located at 101 Second Street, Suite 1800,
San Francisco, California 94105.

 

“Disclosure
Schedules” shall have the meaning ascribed to such term in Section 3.1.

 

“Disqualification
Event” shall have the meaning ascribed to such term in Section 3.1(qq).

 

“Evaluation
Date” shall have the meaning ascribed to such term in Section 3.1(t).

 

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

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“GAAP”
shall have the meaning ascribed to such term in Section 3.1(i).

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(cc).

 

“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(q).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  

    2

     

    

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Maximum
Amount” means, as to each Purchaser, the maximum aggregate amount to be paid for Shares hereunder as specified below
such Purchaser’s name on the signature page of this Agreement and next to the heading “Maximum Amount” in U.S.
dollars and in immediately available funds.

 

“Minimum
Amount” means, as to each Purchaser, the minimum aggregate amount to be paid for Shares hereunder as specified below
such Purchaser’s name on the signature page of this Agreement and next to the heading “Minimum Amount” in U.S.
dollars and in immediately available funds.

 

“Per
Share Purchase Price” equals $1.60 subject to adjustment for reverse and forward stock splits, stock dividends, stock
combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Public
Information Failure” shall have the meaning ascribed to such term in Section 4.2(b).

 

“Public
Information Failure Payments” shall have the meaning ascribed to such term in Section 4.2(b).

 

“Purchase
Notice” shall have the meaning ascribed to such term in Section 2.4(a).

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.8.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required
Purchasers” means (i) prior to Closing, the Purchaser or Purchasers who, together with their Affiliates, has or have
agreed to purchase a majority of the Shares to be sold hereunder and (ii) from and after the Closing, the Purchaser or Purchasers
beneficially owning (calculated in accordance with Rule 13d-3 under the Exchange Act) at least a majority of the aggregate number
of Shares.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

    3

     

    

 

“SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(i).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Series
B Preferred Stock” means the Series B Preferred Stock, par value $0.001 per share, of the Company.

 

“Shares”
means the shares of Common Stock issued or issuable to the Purchasers at Closing pursuant to this Agreement.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include the location and/or reservation of borrowable shares of Common Stock). 

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for Shares purchased hereunder as specified in the
Purchase Notice and next to the heading “Subscription Amount,” in U.S. dollars and in immediately available funds.

 

“Subsidiary”
means any wholly-owned subsidiary of the Company as set forth on Schedule 3.1(a) and shall, where applicable, also include
any direct or indirect wholly-owned subsidiary of the Company formed or acquired after the date hereof.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the Nasdaq Capital Market (“Nasdaq”), the Nasdaq Global Market, the Nasdaq Global Select
Market, the New York Stock Exchange, the NYSE American (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement and all appendices and schedules thereto and hereto and any other documents or agreements
executed in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means American Stock Transfer & Trust Company, the current transfer agent of the Company, with a mailing address
of 6201 15th Avenue, Brooklyn, NY 11219 and a facsimile number of (718) 765-8713, and any successor transfer agent of the Company.

 

“U.S.”
means the United States of America.

 

“U.S.
Person” shall have the meaning ascribed to such term in Rule 902(k) under the Securities Act including as set forth in
Appendix II.

 

    4

     

    

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to and shall sell, and the
Purchasers, severally and not jointly, agree to and shall purchase, up to an aggregate of $4,705,226 of Shares. On or before the
Closing Date, each Purchaser shall have delivered immediately available funds, via wire transfer or certified check, to the account
of the Company or a Subsidiary as provided for in Section 2.5(b) in an amount at least equal to such Purchaser’s Subscription
Amount as set forth on the Purchase Notice delivered by the Company to each Purchaser pursuant to Section 2.4. Upon consummation
of the Closing, the Company shall instruct the Transfer Agent to deliver to each Purchaser, its respective Shares (or a direct
registration system advice evidencing the electronic registration of ownership of such Shares). Upon satisfaction of the covenants
and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of Company Counsel or such other location
as the parties shall mutually agree.

 

2.2 Deliveries.

 

(a) On or
prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i) this Agreement
duly executed by the Company;

 

(ii) the Purchase
Notice;

 

(iii) a copy
of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver via book entry a number of Shares
equal to such Purchaser’s Subscription Amount divided by the Per Share Purchase Price, registered in the name of such Purchaser;
and

 

(iv) the Company’s
wire instructions or bank account number.

 

(b) On or
prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company, as applicable, the following:

 

(i) this Agreement
duly executed by such Purchaser;

 

(ii) such Purchaser’s
Subscription Amount, which shall be deducted from the Maximum Amount delivered by such Purchaser in accordance with Section 2.5(b);
and

 

(iii) any documentation
reasonably necessary for the Transfer Agent to establish an account for such Purchaser.

 

    5

     

    

  

2.3 Closing Conditions.

 

(a) The obligations
of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy
in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific
date therein in which case they shall be accurate as of such date);

 

(ii) all obligations,
covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been performed;
and

 

(iii) the delivery
by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b) The respective
obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy
in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

 

(ii) all obligations,
covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(iii) the delivery
by the Company of the items set forth in Section 2.2(a) of this Agreement, as applicable;

 

(iv) the Company
shall have filed with Nasdaq a “Notification Form: Listing of Additional Shares” for the listing of the Shares and
Nasdaq has raised no objection with respect thereto;

 

(v) the Company
shall have received gross proceeds from the sale of the Shares as contemplated hereby of at least $4,000,000;

 

(vi) there
shall have been no Material Adverse Effect with respect to the Company since the date hereof;

 

(vii) No judgment,
writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy court or
judge, or any order of or by any governmental authority, shall have been issued, and no action or proceeding shall have been instituted
by any governmental authority, enjoining or preventing the consummation of the transactions contemplated hereby or in the other
Transaction Documents; and

 

(viii) from
the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company’s
principal Trading Market, and, at any time from the date hereof to the Closing Date, trading in securities generally as reported
by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose
trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the
U.S. or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national
or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in
each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Shares at the Closing.

 

    6

     

    

 

2.4 Subscription and Purchase.

 

(a) Each
Purchaser acknowledges and agrees that it shall be obligated to deliver to the Company at the Closing the Subscription Amount as
to such Purchaser in the amount set forth in a written notice (the “Purchase Notice”) delivered by the Company
to such Purchaser no later than 9:00 a.m. (New York City time) on the Closing Date.

 

(b) The Purchase
Notice, a form of which is attached hereto as Appendix III, shall specify (i) the Subscription Amount which such Purchaser
shall be obligated to deliver to the Company at the Closing and (ii) the number of Shares to be delivered by the Company pursuant
to Section 2.2(a)(iii) in consideration of the Subscription Amount, which shall be equal to the Subscription Amount divided by
the Per Share Purchase Price.

 

(c) The Company
acknowledges and agrees that as to each Purchaser, the Subscription Amount shall be not less than the Minimum Amount and not more
than the Maximum Amount set forth on the signature page hereto of such Purchaser.

 

2.5 Purchaser Subscription.

 

(a) By executing
this Agreement, each Purchaser acknowledges and agrees that the Subscription Amount as to each Purchaser hereunder shall be determined
by the Company in its sole and absolute discretion and in accordance with this Agreement; provided, however, that
such Subscription Amount shall be not less than the Minimum Amount and not more than the Maximum Amount set forth on the signature
page hereto of such Purchaser.

 

(b) Each
Purchaser undertakes and agrees to deliver to the Company the Maximum Amount, as to such Purchaser, in immediately available funds,
via wire transfer or certified check, to the account of the Company or a Subsidiary, as instructed in writing by the Company, no
later than the Trading Day immediately preceding the Closing Date; provided, however, that each Purchaser shall endeavor
in good faith to initiate transfer of such funds on or before the date of this Agreement so that such funds may be delivered on
the date of this Agreement or within two Business Days hereafter. The Purchaser shall not be entitled to payment of interest with
respect to such funds. The Company shall be deemed to hold such funds in trust for the benefit of the respective Purchasers until
the Closing Date.

  

    7

     

    

 

2.6 [Intentionally
omitted.]

 

2.7 Excess Payments.

 

(a) In the
event any Purchaser has delivered to the Company prior to Closing an amount of funds in excess of the Subscription Amount of such
Purchaser as specified on the Purchase Notice delivered to such Purchaser, the Company shall, no later than three Trading Days
subsequent to the later of either the Closing Date or the date such Purchaser shall have provided wire instructions or bank account
number to the Company, return to such Purchaser such excess amount, without any additional payment of interest thereon, in immediately
available funds, via wire transfer or certified check. The Company shall be deemed to hold such excess funds in trust for the benefit
of the respective Purchasers until so paid.

 

(b) In the
event of termination of this offering in accordance with Section 5.1 hereby, the Company shall, no later than three Trading Days
subsequent to the later of such date of termination or the date such Purchaser shall have provided wire instructions or bank account
number to the Company, return to such Purchaser any and all funds delivered by such Purchaser to the Company in furtherance of
this Agreement and in anticipation of the Closing, without any additional payment of interest thereon, in immediately available
funds, via wire transfer or certified check. The Company shall be deemed to hold such funds in trust for the benefit of the respective
Purchasers until so paid.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. Except as set forth in the Disclosure Schedules attached hereto (the “Disclosure Schedules”),
which Disclosure Schedules shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent
of the disclosure contained in the corresponding section of the Disclosure Schedules, the Company hereby makes the following representations
and warranties to each Purchaser:

 

(a) Subsidiaries.
All of the direct and indirect wholly-owned subsidiaries of the Company are set forth on Schedule 3.1(a). The Company owns,
directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and
all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable
and free of preemptive and similar rights to subscribe for or purchase securities.

 

(b) Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing (or the foreign equivalent thereof) under the laws of the jurisdiction of its incorporation or organization,
with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.
Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified
(or the foreign equivalent thereof) to conduct business and is in good standing (or the foreign equivalent thereof) as a foreign
corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such
qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or
reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction
Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise)
of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform
in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material
Adverse Effect”) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking
to revoke, limit or curtail such power and authority or qualification.

 

    8

     

    

 

(c) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of each of this Agreement and the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith
or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which
it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the
terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(d) No
Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to
which it is a party, the issuance and sale of the Shares and the consummation by it of the transactions contemplated hereby and
thereby do not and will not: (i) conflict with or violate any provision of the Certificate of Incorporation or any Subsidiary’s
certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Liens
upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other
instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary
is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required
Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities
laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case
of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

    9

     

    

 

(e) Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i)
the filings required pursuant to Section 4.4 of this Agreement, (ii) the notice and/or application(s) to each applicable Trading
Market for the issuance and sale of the Shares and the listing of the Shares for trading thereon in the time and manner required
thereby, and (iii) the filing of Form D if required with the Commission and such filings as are required to be made under applicable
state securities laws (collectively, the “Required Approvals”).

 

(f) Issuance
of the Shares. The Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions
on transfer provided for in the Transaction Documents.

 

(g) Capitalization.
As of December 1, 2018, the authorized capital stock of the Company consisted of (i) 10,000,000 shares of Common Stock, of which
approximately 5,860,000 shares are issued and outstanding, 11,000 shares are issuable upon conversion of Series B Preferred Stock,
1,116,000 shares are issuable pursuant to outstanding warrants, 101,000 shares are issuable pursuant to outstanding compensatory
options, and 165,000 shares are reserved for issuance pursuant to the Company’s stock compensatory plans and (ii) 1,000,000
shares of preferred stock, of which 83 shares of Series B Preferred Stock are issued and outstanding. The Company has not issued
any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to the exercise of
employee stock options under the Company’s stock compensatory plans, the issuance of shares of Common Stock to employees
pursuant to the Company’s employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents
outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person has any right of first
refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the
Transaction Documents. Except as set forth in the SEC Reports and as a result of the purchase and sale of the Shares, there are
no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to,
or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe
for or acquire any shares of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings or
arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common
Stock Equivalents or capital stock of any Subsidiary. The issuance and sale of the Shares will not obligate the Company or any
Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Purchasers) and will not result in
a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities.
There are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions,
and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become
bound to redeem a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or “phantom
stock” plans or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized,
validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none
of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities.
No further approval or authorization of any stockholder, the Board of Directors or others is required for the issuance and sale
of the Shares. There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company’s
capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company’s
stockholders.

  

    10

     

    

 

(h) [Intentionally
omitted.]

 

(i) SEC
Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof,
for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such
material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively
referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension of such time of
filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC
Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and
none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. The financial statements
of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules
and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been
prepared in accordance with U.S. generally accepted accounting principles applied on a consistent basis during the periods involved
(“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except
that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects
the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations
and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit
adjustments.

 

    11

     

    

 

(j) Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included
within the SEC Reports, except as specifically disclosed in one or more subsequent SEC Reports filed prior to the date hereof:
(i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material
Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued
expenses incurred in the ordinary course of business consistent with past practice, and (B) liabilities that are not required to
be reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii)
the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of
cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its
capital stock, and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant
to existing Company stock compensatory plans. The Company does not have pending before the Commission any request for confidential
treatment of information. Except for the issuance of the Shares contemplated by this Agreement, no event, liability, fact, circumstance,
occurrence or development has occurred or exists, or is reasonably expected to occur or exist, with respect to the Company or its
Subsidiaries or their respective businesses, properties, operations, assets or financial condition, that would be required to be
disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been
or will not have been publicly disclosed prior to the Closing Date.

 

(k) Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company,
threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares
or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither
the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim
of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been,
and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company
or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending
the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities
Act.

 

(l) Labor
Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of
the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither
the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or
any Subsidiary is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of
its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance
with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and
conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

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(m) Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the
Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree, or order of any
court, arbitrator or other governmental authority, or (iii) is or has been in violation of any statute, rule, ordinance or regulation
of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental
protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case as
could not have or reasonably be expected to result in a Material Adverse Effect.

 

(n) Environmental
Laws. The Company and its Subsidiaries (i) are in compliance with all federal, state, local and foreign laws relating to pollution
or protection of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface
strata), including laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants,
or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”) into the environment, or otherwise
relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials,
as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice
letters, orders, permits, plans or regulations, issued, entered, promulgated or approved thereunder (“Environmental Laws”),
(ii) have received all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their
respective businesses, and (iii) are in compliance with all terms and conditions of any such permit, license or approval where
in each clause (i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually or in the aggregate,
a Material Adverse Effect.

 

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(o) Regulatory
Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports,
except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (“Material
Permits”), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation
or modification of any Material Permit.

 

(p) Title
to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them
and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries,
in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not
materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens
for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP
and the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the
Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiaries
are in compliance.

 

(q) Intellectual
Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights
and similar rights as described in the SEC Reports as necessary or required for use in connection with their respective businesses
and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”).
None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual
Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2)
years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since the date of the latest audited
financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual
Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have
a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is
no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken
reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except
where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(r) Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and
in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including,
but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount. Neither the
Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without
a significant increase in cost.

 

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(s) Transactions
With Affiliates and Employees. Except as set forth in the SEC Reports, none of the officers or directors of the Company or
any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party
to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director,
or any such employee has a substantial interest or is an officer, director, trustee, stockholder, member or partner, in each case
in excess of $120,000 other than for: (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses
incurred on behalf of the Company, (iii) other employee benefits, including stock option agreements under any stock compensatory
plan of the Company, and (iv) purchase of Shares pursuant to this Agreement.

 

(t) Sarbanes-Oxley;
Internal Accounting Controls. The Company and the Subsidiaries are in compliance with any and all applicable requirements of
the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated
by the Commission thereunder that are effective as of the date hereof and as of the Closing Date. The Company and the Subsidiaries
maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed
in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted
only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The
Company and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information
required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized
and reported, within the time periods specified in the Commission’s rules and forms. The Company’s certifying officers
have evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of
the period covered by the most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”).
The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers
about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the
Evaluation Date, there have been no changes in the internal control over financial reporting (as such term is defined in the Exchange
Act) of the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially affect, the internal
control over financial reporting of the Company or its Subsidiaries.

 

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(u) Certain
Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company or any Subsidiary to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions
contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect to any fees or with respect to
any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection
with the transactions contemplated by the Transaction Documents.

 

(v) Private
Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no registration
under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchasers as contemplated hereby.
The issuance and sale of the Shares hereunder does not contravene the rules and regulations of the Trading Market.

 

(w) Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares, will not
be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.
The Company shall conduct its business in a manner so that it will not become an “investment company” subject to registration
under the Investment Company Act of 1940, as amended.

 

(x) Registration
Rights. Except as set forth in the SEC Reports, no Person has any right to cause the Company to effect the registration under
the Securities Act of any securities of the Company or any Subsidiary.

 

(y) Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the
Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating
such registration. Except as set forth in the SEC Reports, the Company has not, in the twelve months preceding the date hereof,
received notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company
is not in compliance with the listing or maintenance requirements of such Trading Market. Except with respect to Nasdaq Stock Market
LLC Rule 5550(a)(2), which requires the bid price for the Common Stock not close below a minimum $1.00 price per share for thirty
consecutive Trading Days, the Company is, and has no reason to believe that it will not in the foreseeable future continue to be,
in compliance with all such listing and maintenance requirements. The Common Stock is currently eligible for electronic transfer
through the Depository Trust Company or another established clearing corporation and the Company is current in payment of the fees
to the Depository Trust Company (or such other established clearing corporation) in connection with such electronic transfer.

 

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(z) Application
of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render
inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or other similar anti-takeover provision under the Certificate of Incorporation (or similar charter documents) or the laws of its
state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company fulfilling
their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of the Company’s
issuance of the Shares and the Purchasers’ ownership of the Shares.

 

(aa) Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company
confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel
with any information that it believes constitutes or might constitute material, non-public information. The Company understands
and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in securities of the Company.
All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries, their
respective businesses and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, is true and
correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were made, not misleading. The press releases disseminated
by the Company during the twelve months preceding the date of this Agreement taken as a whole do not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made and when made, not misleading. The Company acknowledges and agrees
that no Purchaser makes or has made any representations or warranties with respect to the transactions contemplated hereby other
than those specifically set forth in Section 3.2 hereof.

 

(bb) No
Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2,
neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering
of the Shares to be integrated with prior offerings by the Company for purposes of (i) the Securities Act which would require the
registration of any such securities under the Securities Act or (ii) any applicable shareholder approval provisions of any Trading
Market on which any of the securities of the Company are listed or designated.

 

(cc) Solvency.
Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the
Company of the proceeds from the sale of the Shares hereunder: (i) the fair saleable value of the Company’s assets exceeds
the amount that will be required to be paid on or in respect of the Company’s existing debts and other liabilities (including
known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute unreasonably small capital to carry
on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular
capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability
thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate
all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in
respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability
to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).
The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation
under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. The SEC Reports set forth
all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary
has commitments. For the purposes of this Agreement, “Indebtedness” means (x) any liabilities for borrowed money
or amounts owed in excess of $50,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties,
endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected
in the Company’s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments
for deposit or collection or similar transactions in the ordinary course of business, and (z) the present value of any lease payments
in excess of $50,000 due under leases required to be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary
is in default with respect to any Indebtedness.

 

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(dd) Tax
Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all U.S. federal, state and local income and
all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii)
has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on
such returns, reports and declarations, and (iii) has set aside on its books provision reasonably adequate for the payment of all
material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid
taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or
of any Subsidiary know of no basis for any such claim.

 

(ee) No
General Solicitation. Neither the Company nor any Person acting on behalf of the Company has offered or sold any of the Shares
by any form of general solicitation or general advertising.

 

(ff) Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, to the knowledge of the Company or any Subsidiary, any agent or
other person acting on behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful contributions,
gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its
behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of FCPA.

  

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(gg) Accountants.
The Company’s accounting firm is KMJ Corbin & Company LLP. To the knowledge and belief of the Company, such accounting
firm is a registered public accounting firm as required by the Exchange Act.

 

(hh) No
Disagreements with Accountants and Lawyers. There are no disagreements of any kind presently existing, or reasonably anticipated
by the Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the Company which
could affect the Company’s ability to perform any of its obligations under any of the Transaction Documents.

 

(ii) Acknowledgment
Regarding Purchasers’ Purchase of Shares. The Company acknowledges and agrees that each of the Purchasers is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given
by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchasers’ purchase of the Shares. The Company further represents to each
Purchaser that the Company’s decision to enter into this Agreement and the other Transaction Documents has been based solely
on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

(jj)
Acknowledgment Regarding Purchaser’s Trading Activity. Notwithstanding
anything in this Agreement or elsewhere herein to the contrary (except for Sections 3.2(g) and 4.14), it is understood and acknowledged
by the Company that, except to the extent a Purchaser is subject to the “Code of Business Conduct” of the Company
and the “Policy Against Insider Trading and Securities Fraud” of the Company, (i) none of the Purchasers has been
asked by the Company to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short, securities
of the Company, or “derivative” securities based on securities issued by the Company or to hold the Shares for any
specified term, (ii) past or future open market or other transactions by any Purchaser, specifically including, without limitation,
Short Sales or “derivative” transactions, before or after the closing of this or future private placement transactions,
may negatively impact the market price of the Company’s publicly-traded securities, and (iii) each Purchaser shall not be
deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative” transaction.

 

(kk) Regulation
M Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or
indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Shares, (ii) sold, bid for, purchased, or paid any compensation
for soliciting purchases of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting
another to purchase any other securities of the Company.

 

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(ll) Stock
Compensatory Plans. Each stock option granted by the Company under the current stock compensatory plan of the Company was granted
(i) in accordance with the terms of such plan and (ii) with an exercise price at least equal to the fair market value of the Common
Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the
Company’s stock compensatory plan has been backdated. The Company has not knowingly granted, and there is no and has been
no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock
options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their
financial results or prospects.

 

(mm) Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer,
agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office
of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(nn) U.S.
Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within the
meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s
request.

 

(oo) Bank
Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act
of 1956, as amended (the “BHCA”), and to regulation by the Board of Governors of the Federal Reserve System
(the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly
or indirectly, 5% or more of the outstanding shares of any class of voting securities or 25% or more of the total equity of a bank
or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries
or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the
BHCA and to regulation by the Federal Reserve.

 

(pp) Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no Action or Proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of
the Company or any Subsidiary, threatened.

 

(qq) No
Disqualification Events. With respect to the Shares to be offered and sold hereunder in reliance on Rule 506 under the
Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer
of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under
the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”
and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications
described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a
Disqualification Event covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any
Issuer Covered Person is subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure
obligations under Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

 

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(rr) Other
Covered Persons. The Company is not aware of any person (other than any Issuer Covered Person) that has been or will be paid
(directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Shares pursuant to Rule
506.

 

(ss) Notice
of Disqualification Events. The Company will notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification
Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification
Event relating to any Issuer Covered Person.

 

3.2 Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as
of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they
shall be accurate as of such date):

 

(a) Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability
company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
to which it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction
Documents to which such Purchaser is a party and performance by such Purchaser of the transactions contemplated by such Transaction
Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable,
on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when
delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such
Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’
rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

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(b) Own
Account. Such Purchaser understands that the Shares are “restricted securities” and have not been registered under
the Securities Act or any applicable state securities law and is acquiring the Shares as principal for its own account and not
with a view to or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable
state securities law, has no present intention of distributing any of such Shares in violation of the Securities Act or any applicable
state securities law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding
the distribution of such Shares in violation of the Securities Act or any applicable state securities law (without prejudice, however,
to such Purchaser’s right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with
applicable federal and state securities laws). Nothing contained herein shall be deemed a representation or warranty by such Purchaser
to hold the Shares for any period of time. Such Purchaser is acquiring the Shares hereunder in the ordinary course of its business.

 

(c) Purchaser
Status. Such Purchaser understands that the Shares are being offered in reliance upon the information provided in (i) the Certification
of Accredited Investor Status, a form of which is attached hereto as Appendix I and (ii) the Certification of U.S. Person
Status, a form of which is attached hereto as Appendix II, and such Purchaser has provided true and correct information
in such certifications.

 

(d) Experience
of Such Purchaser. Such Purchaser, either alone or together with one or more representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Shares and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of
an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

(e) General
Solicitation. Such Purchaser is not, to such Purchaser’s knowledge, purchasing the Shares as a result of any advertisement,
article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast
over television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(f) Access
to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including
all appendices and schedules thereto) and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it
has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the
offering of the Shares and the merits and risks of investing in the Shares, (ii) access to information about the Company and its
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
its investment, and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

 

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(g) Certain
Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser has not directly
or indirectly, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, executed any purchases
or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser
first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material
terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this
Agreement (collectively, “Trading Affiliates”). Other than disclosures to other Persons party to this Agreement
or to such Purchaser’s representatives (including, without limitation, its officers, directors, partners, legal and other
advisors, agents and Affiliates), each of whom is bound by a duty of confidentiality to such Purchaser and whom such Purchaser
has taken reasonable actions to cause them to maintain such confidentiality, such Purchaser has maintained the confidentiality
of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding
the foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude
any actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to
effect Short Sales or similar transactions in the future.

 

(h) Beneficial
Ownership Compliance. Such Purchaser acknowledges that Section 16 under the Exchange Act requires that any Person who is directly
or indirectly the beneficial owner of more than 10% of the Common Stock is, unless exempt, required to file statements of beneficial
ownership with the Commission and is subject to disgorgement of profits from any purchase and sale of Common Stock (or related
derivative) within a six month period. Such Purchaser further acknowledges that Regulation 13D-G under the Exchange Act requires
that any Person who has filed a beneficial ownership report on Schedule 13G with the Commission pursuant to Rule 13d-1(c) who subsequently
becomes a 20% or more beneficial owner of the Common Stock must file a beneficial ownership report on Schedule 13D with the Commission
within ten days and, for an additional ten days, may not vote the Common Stock or acquire additional shares of Common Stock.

 

(i) Disqualification
Event Notification. Such Purchaser acknowledges and agrees that, if such Purchaser becomes the beneficial owner of 20%
or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, such Person will,
upon the reasonable request of the Company, promptly notify the Company whether such Person is subject to any Disqualification
Event and, notwithstanding anything contained in this Agreement to the contrary, maintain the confidentiality of such request for
a reasonable period of time.

 

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The Company acknowledges
and agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right
to rely on the Company’s representations and warranties contained in this Agreement or any representations and warranties
contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this
Agreement or the consummation of the transactions contemplated hereby.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Transfer Restrictions.

 

(a) The
Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares
other than pursuant to an effective registration statement or Rule 144, the Company may require the transferor thereof to provide
to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance
of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration
of such transferred Shares under the Securities Act.

 

(b) The Purchasers
agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Shares in the following form:

 

THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON
AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, HEDGED,
PLEDGED, OR OTHERWISE TRANSFERRED UNLESS (I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT OF 1933,
AS AMENDED, (II) SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144, OR (III) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

 

The Purchasers
further agree not to engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act.

 

(c) Instruments,
whether certificated or uncertificated, evidencing the Shares shall not contain any legend (including the legend set forth in Section
4.1(b) hereof), (i) while a registration statement covering the resale of such Security is effective under the Securities Act,
(ii) following any sale of such Security pursuant to Rule 144, (iii) if such Security is eligible for sale under Rule 144, without
the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Security
and without volume or manner-of-sale restrictions, or (iv) if such legend is not required under applicable requirements of the
Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall
cause its counsel to issue a legal opinion to the Transfer Agent if required by the Transfer Agent to effect the removal of the
legend hereunder. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge
the restrictions on transfer set forth in this Section 4.1.

 

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(d) Each
Purchaser, severally and not jointly with the other Purchasers, agrees with the Company that such Purchaser will sell any Shares
pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements,
or an exemption therefrom, and that if Shares are sold pursuant to a registration statement, they will be sold in compliance with
the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from instruments representing
Shares as set forth in this Section 4.1 is predicated upon the Company’s reliance upon this understanding.

 

4.2 Furnishing of
Information; Public Information.

 

(a) If the
Common Stock is not registered under Section 12(b) or 12(g) of the Exchange Act on the date hereof, the Company agrees to cause
the Common Stock to be registered under Section 12(g) of the Exchange Act on or before the sixtieth calendar day following the
date hereof. Until the time that no Purchaser owns Shares, the Company covenants to maintain the registration of the Common Stock
under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof and file within the
applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even
if the Company is not then subject to the reporting requirements of the Exchange Act.

 

(b) At any
time during the period commencing from the six month anniversary of the date hereof and ending at such time that all of the Shares
may be sold without the requirement for the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or
limitation pursuant to Rule 144, if the Company (i) shall fail for any reason to satisfy the current public information requirement
under Rule 144(c) or (ii) has ever been an issuer described in Rule 144(i)(1)(i) or becomes such an issuer in the future, and the
Company shall fail to satisfy any condition set forth in Rule 144(i)(2) (a “Public Information Failure”) then,
in addition to such Purchaser’s other available remedies, the Company shall pay to a Purchaser, in cash, as partial liquidated
damages and not as a penalty, by reason of any such delay in or reduction of its ability to sell the Shares, an amount in cash
equal to 2.0% of the aggregate Subscription Amount of such Purchaser’s Shares on the day of a Public Information Failure
and on every thirtieth day (pro-rated for periods totaling less than thirty days) thereafter until the earlier of (A) the date
such Public Information Failure is cured and (B) such time that such public information is no longer required  for the Purchasers
to transfer the Shares pursuant to Rule 144.  The payments to which a Purchaser shall be entitled pursuant to this Section
4.2(b) are referred to herein as “Public Information Failure Payments.”  Public Information Failure Payments
shall be paid on the earlier of (i) the last day of the calendar month during which such Public Information Failure Payments are
incurred and (ii) the third Business Day after the event or failure giving rise to the Public Information Failure Payments is cured. 
In the event the Company fails to make Public Information Failure Payments in a timely manner, such Public Information Failure
Payments shall bear interest at the rate of 1.5% per month (prorated for partial months) until paid in full. Nothing herein shall
limit such Purchaser’s right to pursue actual damages for the Public Information Failure, and such Purchaser shall have the
right to pursue all remedies available to it at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief.

 

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4.3 Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares in a manner that would require
the registration under the Securities Act of the sale of the Shares or that would be integrated with the offer or sale of the Shares
for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval prior to the closing
of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction.

 

4.4 Securities Laws
Disclosure; Publicity. The Company shall (a) within four Business Days immediately following the date hereof, issue a press
release disclosing the material terms of the transactions contemplated hereby (the “Announcement Release”) and
(b) file a Current Report on Form 8-K, including this Agreement as an exhibit thereto, with the Commission within the time required
by the Exchange Act. From and after the issuance of the Announcement Release, the Company represents to the Purchasers that it
shall have publicly disclosed all material, non-public information delivered to any of the Purchasers by the Company or any of
its Subsidiaries, or any of their respective officers, directors, employees or agents in connection with the transactions contemplated
by the Transaction Documents. In addition, effective upon the issuance of the Announcement Release, the Company acknowledges and
agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company,
any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates on the one hand, and any
of the Purchasers or any of their Affiliates on the other hand, which were entered into in connection with the transactions contemplated
by the Transaction Documents shall terminate. The Company and each Purchaser shall consult with each other in issuing any other
press releases with respect to the transactions contemplated hereby, and no Purchaser shall issue any such press release nor otherwise
make any such public statement without the prior consent of the Company, which consent shall not unreasonably be withheld or delayed,
except if such disclosure is required by law, in which case such Purchaser shall promptly provide the Company with prior notice
of such public statement or communication. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any
Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory agency or Trading Market, without
the prior written consent of such Purchaser, except: (a) as required by federal securities law in connection with the filing of
final Transaction Documents with the Commission and (b) to the extent such disclosure is required by law or Trading Market regulations,
in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).

 

4.5 Shareholder
Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any
Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company,
or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Shares
under the Transaction Documents or under any other agreement between the Company and the Purchasers.

 

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4.6 Non-Public Information.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, which shall
be disclosed pursuant to Section 4.4, the Company covenants and agrees that neither it, nor any other Person acting on its behalf
will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes,
material non-public information, unless prior thereto such Purchaser shall have consented to the receipt of such information and
agreed with the Company to keep such information confidential. The Company understands and confirms that each Purchaser shall be
relying on the foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company delivers
any material, non-public information to a Purchaser without such Purchaser’s consent, the Company hereby covenants and agrees
that such Purchaser shall not have any duty of confidentiality to Company, any of its Subsidiaries, or any of their respective
officers, directors, agents, employees or Affiliates, or a duty to the Company, and of its Subsidiaries or any of their respective
officers, directors, agents, employees or Affiliates not to trade on the basis of, such material, non-public information, provided
that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant to any Transaction Document
constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Company understands and confirms that each Purchaser
shall be relying on the foregoing covenant in effecting transactions in securities of the Company.

 

4.7 Use of Proceeds.
The Company shall use the net proceeds from the sale of the Shares hereunder for working capital purposes and shall not use such
proceeds: (a) for the satisfaction of any portion of the Company’s debt (other payment of trade payables in the ordinary
course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or Common Stock Equivalents,
(c) for the settlement of any outstanding litigation, or (d) in violation of FCPA or OFAC regulations.

 

4.8 Indemnification
of Purchasers. Subject to the provisions of this Section 4.8, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within
the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title) of such controlling Persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments,
amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser
Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or
agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against the
Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not
an Affiliate of such Purchaser Parties, with respect to any of the transactions contemplated by the Transaction Documents (unless
such action is based upon a breach of such Purchaser Party’s representations, warranties or covenants under the Transaction
Documents or any agreements or understandings such Purchaser Parties may have with any such stockholder or any violations by such
Purchaser Parties of state or federal securities laws or any conduct by such Purchaser Parties which constitutes fraud, gross negligence,
willful misconduct or malfeasance). If any action shall be brought against any Purchaser Party in respect of which indemnity may
be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall
have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any
Purchaser Party seeking indemnity pursuant to this Agreement shall have the right to employ separate counsel in any such action
and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party
except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company
has failed after a reasonable period of time to assume such defense and to employ counsel, or (iii) in such action there is, in
the reasonable opinion of counsel to the Purchaser Party, a material conflict on any material issue between the position of the
Company and the position of such Purchaser Party, in which case the Company shall be responsible for the reasonable fees and expenses
of no more than one such separate counsel. The Company will not be liable to any Purchaser Party under this Agreement (y) for any
settlement by a Purchaser Party effected without the Company’s prior written consent, which shall not be unreasonably withheld
or delayed or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser
Party’s breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement
or in the other Transaction Documents. The indemnification required by this Section 4.8 shall be made by periodic payments of the
amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity
agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company
or others and any liabilities the Company may be subject to pursuant to law.

 

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4.9 Reservation
of Common Stock. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available
at all times, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company
to issue Shares pursuant to this Agreement.

 

4.10 Listing of
Common Stock. The Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Stock on the
Trading Market on which it is currently listed, shall apply to list or quote all of the Shares on such Trading Market and promptly
secure the listing of all of the Shares on such Trading Market. The Company further agrees, if the Company applies to have the
Common Stock traded on any other Trading Market, it will then include in such application all of the Shares, and will take such
other action as is necessary to cause all of the Shares to be listed or quoted on such other Trading Market as promptly as possible.
The Company will then take all action reasonably necessary to continue the listing or quotation and trading of its Common Stock
on a Trading Market and will comply in all respects with the Company’s reporting, filing and other obligations under the
bylaws or rules of the Trading Market. The Company agrees to maintain the eligibility of the Common Stock for electronic transfer
through the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment
of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.

 

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4.11 [Intentionally
omitted.]

 

4.12 [Intentionally
omitted.]

 

4.13 Equal Treatment
of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of this Agreement unless the same consideration is also offered
to all of the parties to this Agreement. For clarification purposes, this provision constitutes a separate right granted to each
Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as
a class and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition
or voting of Shares or otherwise.

 

4.14 Certain Transactions
and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that it will not use the
Shares for the purpose of covering a short position in the Common Stock that existed as of the date hereof. Each Purchaser, severally
and not jointly with the other Purchasers, covenants that neither it, nor any Affiliate acting on its behalf or pursuant to any
understanding with it will execute any purchases or sales, including Short Sales, of any of the Company’s securities during
the period commencing with the execution of this Agreement and ending at such time that the transactions contemplated by this
Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4.  Each Purchaser,
severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement
are publicly disclosed by the Company pursuant to the initial press release as described in Section 4.4, such Purchaser will maintain
the confidentiality of the existence and terms of this transaction and the information included in the Transaction Documents and
the Disclosure Schedules.  Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the
contrary, the Company expressly acknowledges and agrees that (i) no Purchaser makes any representation, warranty or covenant hereby
that it will not engage in effecting transactions in any securities of the Company after the time that the transactions contemplated
by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4, (ii) no Purchaser
shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable
securities laws from and after the time that the transactions contemplated by this Agreement are first publicly announced pursuant
to the initial press release as described in Section 4.4, and (iii) no Purchaser shall have any duty of confidentiality or duty
not to trade in the securities of the Company to the Company or its Subsidiaries after the issuance of the initial press release
as described in Section 4.4, provided, however, that any Purchaser subject to the
“Code of Business Conduct” of the Company and the “Policy Against Insider Trading and Securities Fraud”
of the Company remains so notwithstanding clause (i), (ii) and (iii) in this Section 4.14.  Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by
this Agreement.

 

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4.15 Legal Representation.
The Company and each Purchaser understands that Company Counsel has only rendered legal advice to the Company and not to the Purchasers
in connection with the transactions contemplated by this Agreement. Each Purchaser acknowledges that it has had the opportunity
and been advised by the Company to consult with independent counsel concerning entering into the transactions contemplated by this
Agreement.

 

4.16 Form D; Blue
Sky Filings. The Company agrees to timely file a Form D with respect to the Shares if required under Regulation D and to provide
a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall reasonably determine
is necessary in order to obtain an exemption for, or to qualify the Shares for, sale to the Purchasers at the Closing under applicable
securities or “Blue Sky” laws of the states of the U.S., and shall provide evidence of such actions promptly upon request
of any Purchaser.

 

4.17 Acknowledgment
of Dilution. The Company acknowledges that the issuance of the Shares may result in dilution of the outstanding shares of Common
Stock, which dilution may be substantial under certain market conditions. The Company further acknowledges that its obligations
under the Transaction Documents, including, without limitation, its obligation to issue the Shares pursuant to the Transaction
Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction, regardless
of the effect of any such dilution or any claim the Company may have against any Purchaser and regardless of the dilutive effect
that such issuance may have on the ownership of the other stockholders of the Company.

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination.
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any
effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if
the Closing has not been consummated on or before January 31, 2019; provided, however, that the right to
terminate this Agreement under this Section 5.1 shall not be available to a Purchaser whose failure to fulfill any obligation
under this Agreement has been the cause of or resulted in the failure of the transactions contemplated hereunder to occur on
or before such date; provided, further, however, that such termination will not affect the right of any
party to sue for any breach by any other party (or parties).

 

5.2 Fees and Expenses.
Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers,
counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation,
execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes
and duties levied in connection with the delivery of any Shares to the Purchasers.

 

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5.3 Entire Agreement.
The Transaction Documents, together with the appendices and schedules thereto, contain the entire understanding of the parties
with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with
respect to such matters, which the parties acknowledge have been merged into such documents, appendices, and schedules.

 

5.4 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto at or prior to 5:30
p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or email attachment as set forth on the signature pages attached hereto on a
day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second Trading Day following
the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to
whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature
pages attached hereto. To the extent that any notice provided pursuant to any Transaction Document constitutes, or contains material,
non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with
the Commission pursuant to a Current Report on Form 8-K.

 

5.5 Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,
in the case of an amendment, by the Company and the Required Purchasers or, in the case of a waiver, by the party against whom
enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement
of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of
any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder
in any manner impair the exercise of any such right. Any amendment effected in accordance with accordance with this Section 5.5
shall be binding upon each Purchaser and holder of Shares and the Company.

 

5.6 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

5.7 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser
(other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser
assigns or transfers any Shares, provided that such transferee agrees in writing to be bound, with respect to the transferred Shares,
by the provisions of the Transaction Documents that apply to the “Purchasers.”

 

5.8 No Third-Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth
in Section 4.8 and this Section 5.8.

 

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5.9 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed
by and construed and enforced in accordance with the internal laws of the U.S. State of Delaware, without regard to the principles
of conflicts of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto
or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the State of Delaware. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the State of Delaware for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the
Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it
is not personally subject to the jurisdiction of any such court, that such Action or Proceeding is improper or is an inconvenient
venue for such Proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such Action or Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law. If any party hereto shall commence an Action or Proceeding to enforce any
provisions of the Transaction Documents, then, in addition to the obligations of the Company under Section 4.8, the prevailing
party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys’ fees and
other costs and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding.

 

5.10 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Shares.

 

5.11 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

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5.13 Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser
may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand
or election in whole or in part without prejudice to its future actions and rights.

 

5.14 Replacement
of Shares. If any certificate evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause
to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution
therefor, a new certificate, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction.
The applicant for a new certificate under such circumstances shall also pay any reasonable third-party costs (including customary
indemnity) associated with the issuance of such replacement Shares.

 

5.15 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the
Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.16 Payment Set
Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or
a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise
or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged
by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any
law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to
the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17 Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any
other Transaction Document, and no action taken by any Purchaser pursuant hereof or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights, including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose. The Company has elected to provide all Purchasers with
the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do
so by any of the Purchasers.

 

    33

     

    

 

5.18 Liquidated
Damages. The Company’s obligations to pay any partial liquidated damages or other amounts owing under the
Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated
damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such
partial liquidated damages or other amounts are due and payable shall have been canceled.

 

5.19 Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

5.20 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after
the date of this Agreement.

 

5.21 WAIVER OF
JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

    34

     

    

  

IN
WITNESS WHEREOF, the parties hereto have caused this Share Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

  

	NEONODE INC.	 	Address for Notice:
	 	 	 
	By:	 	 	Email:
	 	Name: 	 Lars Lindqvist	 	lars.lindqvist@neonode.com
	 	Title:	 Chief Financial Officer	 	 

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE
PAGES FOR PURCHASERS FOLLOW]

  

    S-1

     

    

 

[PURCHASER
SIGNATURE PAGE TO SHARE PURCHASE AGREEMENT]

 

IN
WITNESS WHEREOF, the undersigned have caused this Share Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

Name
of Purchaser: ______________________________________________________________

 

Signature
of Authorized Signatory of Purchaser: _______________________________________

 

Name
of Authorized Signatory: _____________________________________________________

 

Title
of Authorized Signatory: ______________________________________________________

 

Email
Address of Authorized Signatory: ______________________________________________

 

Facsimile
Number of Authorized Signatory: ___________________________________________

 

Address
for Notice to Purchaser: ____________________________________________________

 

Address
for Delivery of Shares to Purchaser (if not same as address for notice):

  

	Maximum
    Amount: $________________	Minimum
    Amount: $________________
	Maximum
    Shares: _________________	Minimum
    Shares: _________________

  

EIN
Number (if applicable): _______________________

 

 

[APPENDICES
AND OTHER PURCHASER SIGNATURE PAGES CONTINUE]

  

    S-2

     

    

 

APPENDIX
I

 

CERTIFICATION
OF “ACCREDITED INVESTOR” STATUS

  

Name
of Purchaser: ____________________________________________________________

 

In
connection with the execution of the Share Purchase Agreement to which this Appendix is attached, the above-named Purchaser represents
and warrants to the Company that:

 

		☐	such Purchaser
is an “Accredited Investor”

 

		☐	such Purchaser
is not an “Accredited Investor”

 

(check
one)

  

An
“Accredited Investor” includes, in relevant part:

 

		●	a
                                         director or executive officer of the Company;

 

		●	a
                                         natural person whose individual net worth, or joint net worth with that person’s
                                         spouse, at the date of this Agreement exceeds $1,000,000 excluding the value of the primary
                                         residence of such natural person;

 

		●	a
                                         natural person who had an individual income in excess of $200,000 in each of the two
                                         most recent years or joint income with that person’s spouse in excess of $300,000
                                         in each of those years and has a reasonable expectation of reaching the same income level
                                         in the current year;

 

		●	a
                                         trust, with total assets in excess of $5,000,000, not formed for the specific purpose
                                         of acquiring the securities offered by this Agreement; and

 

		●	an
                                         entity in which all of the equity owners satisfy the requirements of one or more of the
                                         foregoing categories. 

  

    A-1

     

    

 

APPENDIX
II

 

CERTIFICATION
OF “U.S. PERSON” STATUS

  

Name
of Purchaser: ____________________________________________________________

 

In
connection with the execution of the Share Purchase Agreement to which this Appendix is attached, the above-named Purchaser represents
and warrants to the Company that:

 

		☐	 such Purchaser is a “U.S. Person”

 

		☐	such Purchaser
is not a “U.S. Person”

 

(check
one)

 

A
“U.S. Person” includes, in relevant part:

 

		●	a
                                         natural person resident in the U.S.;

 

		●	a
                                         partnership or corporation organized or incorporated under the laws of the U.S.;

 

		●	an
                                         estate of which any executor or administrator is a U.S. Person;

 

		●	a
                                         trust of which any trustee is a U.S. Person; and

 

		●	a
                                         partnership or corporation if (a) organized or incorporated under the laws of any non-U.S.
                                         jurisdiction and (b) formed by a U.S. Person principally for the purpose of investing
                                         in securities not registered under the Securities Act, unless it is organized or incorporated,
                                         and owned, by Accredited Investors who are not natural persons, estates or trusts.

   

    A-2

     

    

 

APPENDIX
III

 

[NEONODE
INC. LETTERHEAD]

  

PURCHASE
NOTICE

 

TO:
[PURCHASER]

  

This
Purchase Notice is delivered to you pursuant to Section 2.4 of that certain Share Purchase Agreement (the “Agreement”)
dated as of December __, 2018 between Neonode Inc., a Delaware corporation (the “Company”) and the Purchasers thereto
including you.

 

Set
forth below are (i) the Subscription Amount which you are obligated to deliver to the Company at the Closing and (ii) the number
of Shares to be delivered by the Company to you pursuant to Section 2.2 of the Agreement.

  

	Subscription
    Amount: $________________
	Shares:
    _________________

  

	NEONODE INC.	 
	 	 
	By:	 	 
	 	Name: 	 Lars Lindqvist	 
	 	Title:	 Chief Financial Officer	 

  

    A-3

     

    

 

DISCLOSURE
SCHEDULE

  

SCHEDULE
3.1(a)

  

	Name	 	Jurisdiction
	 	 	 
	Neonode Technologies AB	 	Sweden
	 	 	 
	Neno User Interface Solutions AB	 	Sweden
	 	 	 
	Neonode Japan Inc.	 	Japan
	 	 	 
	Neonode Americas Inc.	 	U.S.
	 	 	 
	NEON Technology Inc.	 	U.S.
	 	 	 
	Neonode Korea Ltd.	 	South Korea
	 	 	 
	Neonode Taiwan Ltd.	 	Taiwan

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