Document:

Exhibit 10.14

 

No. z1811LN15624818

 

 

 

 

 

 

 

 

 

 

Current Fund Loan Contract

(Applicable to 531)

 

 

 

 

 

 

 

 

 

 

Bank of Communications Co., Ltd.

 

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No.
z1811LN15624818

 

Current Fund Loan Contract

 

	
        Important Notes

         

        Please read the full text of this
contract carefully, especially those articles marked with ▲▲. Please inquire the loaner in case of any question.

 

Whereas, the borrower
applies to the loaner for the line of credit of current fund, both parties hereby enter into this contract through negotiations
to clarify the obligations of each party.

 

Article
1. Definition

 

“Line of credit”
refers to the maximum amount of balance of loan (under the revolving line of credit) or total loan (under the one-time line of
credit) that the loaner may issue to the borrower according to this contract. Such line of credit may be revolving or one-time
(to be used for one or several times) in accordance with this contract.

 

“Revolving line
of credit” refers to the line of credit within which the borrower may apply for the loan for several times according to this
contract.

 

“Balance of loan”
refers to the sum of principal of the outstanding loan that the borrower obtains under this contract.

 

“Balance of line
of credit” refers to the balance of the line of credit deducted with the balance of loan (under the revolving line of credit)
or total loan (under the one-time line of credit).

 

“Period of line
of credit” refers to the period for the loaner to issue the loan to the borrower according to the application by the borrower
and this contract that it is in relation to the occurrence of loan but not the loan itself.

 

“Period of loan”
refers to the period of each loan that both parties determine in the corresponding Application for Use of Line of Credit of
Bank of Communications (hereinafter referred to as Application for Use of Line of Credit).

 

“Business day
of bank” and “business day” refer to the day on which banks at the place of the loaner operate the corporation
business, excluding legal holidays and rest days (excluding those adjusted to be business days). If any issuance, repayment, interest
payment or maturity of loan lies at any non-business day, it should be postponed to the next business day.

 

Terms including affiliate,
affiliate transaction and major investor should contain the same meaning with those contained in the Accounting Standards for
Business Enterprises No.36 – Disclosure of Affiliates (CK [2006] No.3) published by the Ministry of Finance, as well
as its subsequent revisions.

 

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Article
2. Use of Line of Credit

 

2.1 Each
time when needing to use the line of credit, the borrower should submit the application to the loaner at least 5 business days
in advance. The borrower should fill in the Application for Use of Line of Credit to obtain the approval by the loaner before
using the line of credit.

 

▲▲2.2
Use of the line of credit must meeting following conditions:

 

(1) Balance
of loan (under the revolving line of credit) or total loan (under the one-time line of credit) is within the line of credit;

 

(2) Amount
of applied loan is within the balance of line of credit;

 

(3) Application
date and issuance date are within the period of line of credit;

 

(4) Period
of loan and maturity date of loan comply with this contract;

 

(5) Guarantee
contract (if any) under this contract is effective and surviving, and while the guarantee contract is in the form of mortgage contract
and/or pledge contract, the secured real right is already set and surviving;

 

(6) The
borrower has handled procedures to obtain licenses, approvals and registrations from the government necessary for the application
for the loan, and such licenses, approvals or registrations are surviving;

 

(7) No
serious adverse change occurs in the operation status or financial status of the borrower after this contract takes effect;

 

(8) Application
by the borrower meets relevant rules and regulations of the loaner;

 

(9) The
borrower does not violate this contract;

 

(10) Payment
mode of the loan meets this contract and if the loaner is entrusted to make the payment, the loaner should agree with the payment;

 

(11) If
the loan is provided in any foreign currency, the borrower should provide the certificate providing that the loan meets relevant
policies on the management of foreign currency, including but not limited to the valid purpose certificate or registration document
of foreign currency;

 

(12) The
borrower has appointed the dedicated fund withdrawal account as required by the loaner and has signed the account management agreement.

 

▲▲2.3
If the loaner agrees to issue the loan, the final issuance information should be subject to the column of Application for
Use of Line of Credit printed by the bank. Application for Use of Line of Credit should be regarded as the Loan
Certificate.

 

▲▲2.4 If
the currency of the Application for Use of Line of Credit is different from that of the line of credit, it should be converted
at the exchange rate published by Bank of Communications Co., Ltd. in the beginning of each day only for the purpose of recognizing
the balance of line of credit. If there is no available exchange rate, it should be converted by the exchange rate reasonably determined
by Bank of Communications Co., Ltd.

 

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▲▲2.5
After the borrower becomes the shareholder of the guarantor or the “actual controller” defined by the Company
Law, the loaner may suspend or cancel the line of credit not used by the borrower until the guarantor provides the
resolution made by its Board of Shareholders (General Meeting) about securing the borrower that is acceptable to the
loaner.

 

Article
3. Interest Rate and Payment of Interest

 

3.1 Basic
regulations on determining the interest rate

 

3.1.1 The
interest rate should be agreed by both parties in the Application for Use of Line of Credit through negotiations in each
use of the line of credit. Unless any specific interest rate is agreed by both parties in the Application for Use of Line of
Credit, the specific interest rate of each loan should be determined in accordance with the type of benchmark interest rate,
applicable date of benchmark interest rate, fluctuation extent/increase (decrease) value of interest rate, interest rate fluctuation
rules, interest rate fluctuation cycle, interest rate fluctuation cycle unit and specific beginning date of fluctuation (if necessary)
agreed in the corresponding Application for Use of Line of Credit.

 

3.1.2 Type
and definition of “benchmark interest rate”: (1) “Benchmark interest rate of the People’s Bank” refers
to the benchmark interest rate of RMB loan of financial institutions published by the People’s Bank of China; (2) LPR quotation
of Bank of Communications refers to the quotation for benchmark interest rate of loan published by Bank of Communications Co.,
Ltd. on its official website; (3) LPR mean interest rate refers to the benchmark interest rate of loan published by the National
Inter-bank Funding Center.

 

3.1.3 If
the currency is RMB, daily interest rate = monthly interest rate/30, monthly interest rate = annual interest rate/12; if the currency
is HKD, GBP and AUD, daily interest rate = annual interest rate/365; if the currency is USD, Euro, JPN and other foreign currencies
accepted by the loaner, daily interest rate = annual interest rate/360.

 

▲▲3.2
Interest rate of loan

 

The interest rate of
each loan at the time of issuance should be determined in accordance with the fluctuation extent/increase (decrease) value on the
basis of the benchmark interest rate. If the “applicable date of benchmark interest rate” is set as T Day, then the
benchmark interest rate to calculate the specific interest rate of the loan at the time of issuance should be determined by following
rules:

 

If the benchmark interest
rate of the People’s Bank applies, the benchmark interest rate should be the benchmark interest rate of the People’s
Bank on T Day;

 

If LPR quotation of
Bank of Communications applies, the benchmark interest rate should be the LPR value published on the latest business day before
T Day, and, if no LPR is published on the latest business day before T Day, the benchmark interest rate should be the LPR value
published on the former business day before that day;

 

If LPR mean interest
rate applies, the benchmark interest rate should be the LPR value published on the latest business day before T Day, and, if no
LPR is published on the latest business day before T Day, the benchmark interest rate should be the LPR value published on the
former business day before that day.

 

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3.3 Adjustment
of interest rate

 

3.3.1 Once
the interest rate is recorded in the Application for Use of Line of Credit as fixed, such interest rate should apply to
the loan within the period of loan.

 

▲▲3.3.2
Once the interest rate is recorded in the Application for Use of Line of Credit as fluctuating, the interest rate
adjustment date should be determined according to the interest rate fluctuation rules, interest rate fluctuation cycle,
interest rate fluctuation cycle unit and specific beginning date of fluctuation (if necessary) agreed in the Application
for Use of Line of Credit, and the adjusted interest rate should apply since the interest rate adjustment date.

 

3.3.2.1 If
the benchmark interest rate is adjusted within the period of loan, the adjustment cycle of interest rate should be calculated by
choosing “fluctuating at bookkeeping date” or “fluctuating at specific date” in the “interest rate
fluctuation rules” since the “bookkeeping date” or “specific date”. The column of interest rate fluctuation
cycle should be filled with the quantity of interest rate fluctuation cycles, the column of interest rate fluctuation cycle unit
may be filled with day or month. If the quantity of interest rate fluctuation cycle is “1” while the interest rate
fluctuation unit is “day”, then the adjustment date of benchmark interest rate should be the adjustment date of loan
interest rate; if the quantity of interest rate fluctuation cycle is “3” while the interest rate fluctuation unit is
“day”, then the adjustment date of loan interest rate should be every third day since the “bookkeeping date”
or “specific date”; if the quantity of interest rate fluctuation cycle is “1” while the interest rate fluctuation
unit is “month”, then the adjustment date of loan interest rate should be the end of every month since the “bookkeeping
date” or “specific date”; if the quantity of interest rate fluctuation cycle is “3” while the interest
rate fluctuation unit is “month”, then the adjustment date of loan interest rate should be the end of every third month
since the “bookkeeping date” or “specific date”, the same below.

 

3.3.2.2 Loan
interest rate at the adjustment date of loan interest rate should be determined according to the benchmark interest rate at the
adjustment date of loan interest while the interest rate fluctuation/increase (decrease) value is kept unchanged (unless negotiated
by both parties to be adjusted). If the “adjustment date of loan interest rate” is set as T Day, then the benchmark
interest rate of adjusted loan interest rate should be determined by following rules:

 

If the benchmark interest
rate of the People’s Bank applies, the benchmark interest rate should be the benchmark interest rate of the People’s
Bank on T Day;

 

If LPR quotation of
Bank of Communications applies, the benchmark interest rate should be the LPR value published on the latest business day before
T Day, and, if no LPR is published on the latest business day before T Day, the benchmark interest rate should be the LPR value
published on the former business day before that day;

 

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If LPR mean interest
rate applies, the benchmark interest rate should be the LPR value published on the latest business day before T Day, and, if no
LPR is published on the latest business day before T Day, the benchmark interest rate should be the LPR value published on the
former business day before that day.

 

▲▲3.3.3 If
the “benchmark interest rate of the People’s Bank” is applied as the benchmark interest rate and the benchmark
interest rate of the People’s Bank is adjusted to be fluctuating interest rate or cancelled, both parties should adjust the
interest rate of the loan through separate negotiations but the adjusted interest rate should be no lower than the prevailing interest
rate; if both parties fail to reach a common sense on the adjustment of interest rate within one month since the adjustment date
of the People’s Bank, the loaner may announce the earlier maturity of the loan.

 

If the “LPR quotation
of Bank of Communications” or “LPR mean interest rate” is applied as the benchmark interest rate and the relevant
benchmark interest rate is cancelled according to the regulation requirement or suspended by the issuer according to the regulation
requirement, both parties should adjust the interest rate of the loan through separate negotiations but the adjusted interest rate
should be no lower than the prevailing interest rate; if both parties fail to reach a common sense on the adjustment of interest
rate within one month since the relevant benchmark interest rate is cancelled or suspended, the loaner may announce the earlier
maturity of the loan.

 

▲▲3.3.4 Both
parties may adjust the fluctuation extent or increase (decrease) value of the corresponding loan interest rate through negotiation
at each adjustment date of loan interest rate.

 

3.4 If
the currency is RMB, default interest of the overdue loan should be fluctuated upwards by 50% on the basis of the interest rate
specified in this contract, and that of the embezzled loan should be fluctuated upwards by 100% on the basis of the interest rate
specified in this contract. If the benchmark interest rate is adjusted, the loaner may adjust the rate of default interest of each
loan and apply the new rate of default interest since the adjustment date of loan interest rate specified in the Application
for Use of Line of Credit.

 

3.5 Calculation
of interest

 

3.5.1 Normal
interest = interest rate specified in this contract X issued loan X days of occupation.

 

Days of occupation begins
from the issuance date (included) and ends at the maturity date (excluded), and may be postponed if the maturity date is not a
business day while the postponed period should be accounted into the occupation and charged with the interest according to this
contract.

 

3.5.2 The
default interest of overdue loan and embezzled loan should be calculated according to the overdue or embezzled amount and the actual
days (since the date of overdue or embezzlement (included) to the repayment date of principal and interest (excluded)).

 

3.5.3 If
there are too many numbers after the decimal point of the calculated interest/default interest, the loaner may round off the result
to two numbers after the decimal point.

 

▲▲3.6 If the borrower repays the loan in advance or the loaner withdraws the loan in advance according to this contract, the
corresponding interest rate shall still be subject to that specified in this contract.

 

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3.7 If
the loan is in any foreign currency, the determination of interest rate, adjustment of interest rate, default interest rate of
overdue and embezzlement should be subject to Article 17 of this contract.

 

Article 4. Payment of Loan

 

4.1 If
the issuance account appointed by the borrower is the dedicated loan issuance account opened at the loaner, the issuance and payment
of loan should be handled through the account, which may only be used to issue and externally pay the loan fund and only sell the
certificate of “Application for Settlement Business” but may not be used to handle any check, draft, bank acceptance
or any other settlement. When handling the allocation of loan fund independently, the borrower must handle procedures at the counter
of the bank of deposit. The deposit interest of the account should be accounted into the repayment account of the borrower.

 

4.2 When
drawing the loan according to this contract, the borrower should clarify the payment mode (entrusted payment by loaner or independent
payment by borrower) and only one mode is applicable in each time of drawing.

 

4.3 In
the mode of entrusted payment by loaner, the loaner will, after receiving the payment entrustment from the borrower and issuing
the loan according to this contract, pay the loan fund directly to the counterparty of the borrower meeting the purpose specified
in this contract through the account of the borrower.

 

If the amount of a single
payment is beyond the limit of the independent payment or any condition specified in Article 19.3, the mode of entrusted payment
should apply.

 

When choosing the mode
of entrusted payment by the loaner, the borrower should submit the loaner with the Application for Use of Line of Credit,
corresponding payment entrustment and other materials required by the loaner (including but not limited to the commercial contract,
invoice and receipt) to clarify the amount of loan and the receiver and amount of payment, while the amount of drawn loan should
equal to that of the payment.

 

▲▲ If
the payment planned by the borrower does not comply with this contract or the corresponding commercial contract, or contains any
other defect, the loaner may refuse to make the payment and return the payment entrustment submitted by the borrower.

 

▲▲ If
the loaner agrees but fails to make the payment or the payment is returned due to any incorrect information provided by the borrower,
the borrower should submit relevant documents and materials containing the correct information within the period regulated by the
loaner, and the loaner should be expected from any liability for any delay or failure of payment.

 

4.4 In
the mode of independent payment by the borrower, after the loaner issues the loan fund to the account of the loaner according to
this contract, the borrower pays the fund to the counterparty of the borrower meeting the purpose specified in this contract independently.

 

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When choosing the mode
of independent payment by the borrower, the borrower should submit the loaner with the Application for Use of Line of Credit,
description of fund usage and other materials required by the loaner. The borrower should report the payment situation of the loan
fund to the loaner. The loaner may check whether the loan is paid for the regulated purpose by analyzing the account, verifying
the certificate and conducting the on-site survey, and the borrower shall cooperate with such verification by the loaner.

 

Article 5. Repayment of Loan

 

5.1 The
borrower should make the repayment according to the date and amount specified in the corresponding Application for Use of Line
of Credit.

 

▲▲5.2
Without the written consent from the loaner, the borrower may not repay the loan in advance.

 

▲▲5.3
The repayment schedule of principal and interest agreed by the borrower and the loaner in the Application for Use of Line
of Credit is the true intention of both parties through negotiations on a voluntary basis. Under the repayment
arrangement chosen by both parties, the principal should prior to the interest in the repayment without influencing the
repayment liability of the borrower for the payable interest, and the borrower may not set up any plea against the repayment
of payable interest. The borrower should be responsible for repaying all the principal and interest under any repayment
arrangement.

 

▲▲5.4
When the amount repaid by the borrower is insufficient to cover all the debt of the borrower:

 

(1) It
should be firstly used to repay the overdue amount. If the principal and interest are overdue for less than 90 days, the balance
after such repayment should be firstly used to repay the outstanding interest, default interest or compound interest before any
overdue principal; if the principal and interest are overdue for more than 90 days, the balance after such repayment should be
firstly used to repay the outstanding principal and then the overdue interest, default interest or compound interest;

 

(2) If
there are several debts of the borrower (including debts of the borrower owed to the loaner under any other contract), the loaner
may determine the repayment sequence of each debt, only if such sequence does not violate any applicable law, rule, regulation,
system or any compulsory regulatory provision of the loaner. The loaner should inform the borrower of the repayment result, unless
otherwise regulated.

 

Article 6. Representation and Guarantee
of Borrower

 

6.1 The
borrower is legally incorporated and surviving, possesses all the necessary capacities, perform obligations under this contract
it its own name and assumes civil liabilities.

 

6.2 Signing
and performing this contract are the true intention of the borrower that they must obtain all the necessary approvals, permissions
and authorizations to contain no legal defect.

 

6.3 The
borrower conducts production and operation in compliance with laws and regulations, possesses the constant operation capability
and legal repayment source, involves no serious environmental or social risk, possesses no serious adverse credit record and no
officer of the borrower possesses any adverse record.

 

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6.4 All
the documents, statements, materials and information provided by the borrower to the loaner when signing and performing this contract
are authentic, accurate, complete and valid. The borrower does not conceal any information that may affect its financial status
and solvency, and there is no serious adverse change to the financial status of the borrower since the issuance of the latest financial
statement.

 

▲▲6.5
Neither the borrower nor any of its affiliate belongs to the enterprise or individual sanctioned by the UN, EU or US, or is
located in any country or area sanctioned by the UN, EU or US.

 

Article 7. Rights and Obligations of Loaner

 

7.1 The
loaner may withdraw the principal and interest (including compound interest and default interest of overdue and embezzled loan)
of the loan according to this contract, collect the payable expense from the borrower, withdraw the loan in advance at its own
discretion depending on the fund status of the borrower, and may exercise other rights under laws, regulations or this contract.

 

▲▲7.2
The loaner only conducts the formal examination of materials provided by the borrower during the performance of this contract
that the loaner should be exempted from any liability for the failure to complete entrusted payment if the borrower provides
any false, inaccurate or uncomplete material or the borrower makes the payment in violation to this contract.

 

▲▲7.3
The loaner should issue the loan and make the payment according to this contract. The loaner should be exempted from the
liability if the loaner fails to issue the loan or make the payment due to any cause below, but the loaner should send a
notice to the borrower in time: the issuance account appointed by the borrower is frozen, the account of the receiver is
frozen, there is any force majeure, communicaiton or network fault, or the system fault of the loaner, unless otherwise
regulated in this contract.

 

Article 8. Obligations of Borrower

 

8.1 The
borrower should repay the principal and interest of loan under this contract according to the time, amount, currency and interest
rate specified in this contract and the corresponding Application for Use of Line of Credit.

 

The fund collection
account appointed by the borrower should be used to collect the corresponding sales income or planned repayment fund. If the corresponding
sales income is not settled in cash, the borrower should ensure to allocate it to the fund collection account upon receiving it.
The borrower should provide the cash flow of the fund collection upon the request from the loaner.

 

8.2 The
borrower should use the line of credit for the purpose specified in this contract and use the loan for the purpose specified in
the corresponding Application for Use of Line of Credit but may not embezzle the loan for any other purpose, or the investment
in fixed assets, equity or any production or operation prohibited by the government.

 

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The borrower should
draw the loan fund in the mode agreed by both parties but not avoid the entrusted payment by the loaner by breaking up the whole
into parts; in the mode of independent payment by the borrower, the borrower should use the loan within the reasonable period required
by the regulatory authority of the loaner, and the payment of loan fund should meeting this contract.

 

▲▲8.3
The borrower should assume the settlement expense (if any) of the payment of loan fund (including entrusted payment by the
loaner and independent payment by the borrower), and the special charge standard is subject to laws, rules, regulations,
regulatory provisions and the prevailing Charge List of Services of Bank of Communications published by the
loaner.

 

If the issuance account
is dedicated for the issuance of loan and the collection account is not opened at Bank of Communications in the payment of loan
fund (including entrusted payment by the loaner and independent payment by the borrower), the fund may be processed by the payment
system or local clearing system of the People’s Bank.

 

If the issuance account
is not dedicated for the issuance of loan and the collection account is not local or opened at Bank of Communications in the payment
of loan fund (including entrusted payment by the loaner and independent payment by the borrower), the fund should be processed
by the payment system of the People’s Bank.

 

▲▲8.4
The borrower should cooperate with the loaner in the management of loan payment and the supervision and inspection of the use
of loan and operation situation of the borrower, provide the financial statement, use record and material of the loan fund,
information of affiliate and affiliate transaction, environmental and social risk report, other materials and information
necessary for the after-loan risk management required by the loaner, and shall ensure the authenticity, integrity and
accuracy of such documents, materials and information.

 

▲▲8.5
Under either circumstance below, the borrower should send a written notice to the loaner at least 30 days in advance and take
no action before repaying the principal and interest under this contract or providing the repayment plan or guarantee
recognized by the loaner:

 

(1) The
borrower sells, presents, leases, lends, transfers, mortgages, pledges or disposes in any other manner all or a large part of the
assets or important assets;

 

(2) The
operation mechanism or ownership organization of the borrower suffers from any great change, including but not limited to the contracting,
lease, association, corporate system transformation, joint stock cooperation system transformation, sales, combination (merger),
joint venture (cooperation), separation of enterprise, establishing of subsidiary, equity transfer, ownership transfer, and decrease
of capital.

 

(3) The
external investment or increase of debt financing of the borrower exceeds the agreed limit.

 

▲▲8.6 The
borrower should send a written notice to the loaner within 7 days since the occurrence or possible occurrence of any circumstance
below:

 

(1) The
borrower or its affiliate revises the Memorandum of Association, changes the name, legal representative (responsible person), domicile,
mailing address or business scope of the enterprise, or makes any decision that affects the finance or human resource greatly;

 

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(2) The
borrower, its affiliate or guarantor plans to apply for bankruptcy or may be or has been applied by the creditor for bankruptcy;

 

(3) The
borrower or its affiliate is involved in any serious lawsuit, arbitration or administrative measure, or its major assets or the
guarantee under this contract is executed with the property preservation or any other compulsory measure, or the security of its
major assets or the guarantee under this contract is or may be affected or the value is or may be decreased;

 

(4) The
borrower or its affiliate provides any guarantee to any third party to affect its economic status, financial status or capability
in performing obligations under this contract significantly;

 

(5) The
borrower or its affiliate enters into any contract with significant influence on its operation and financial status;

 

(6) The
borrower repays the immature debt in advance or repay other mature debt firstly, or increases any form of guarantee for any other
existing debt, or makes any arrangement with the similar effect or enters into any relevant document;

 

(7) The
borrower, its affiliate or guarantor is shut down, closed, dissolved, suspended, cancelled, or the business license is withdrawn;

 

(8) The
borrower or its affiliate, major investor of the borrower or its affiliate, legal representative (responsible person), director
or officer of the borrower or its affiliate is missing or involved in any violation, to any law, regulation or rule of stock exchange,
or suffers from any abnormal change;

 

(9) The
borrower or its affiliate suffers from serious difficulty or deterioration of financial status in the operation, or there is any
other event with adverse influence on the operation, financial status, solvency or economic status of the borrower or its affiliate;

 

(10) There
is any affiliated transaction and its amount reaches or exceeds 10% of the latest audited net assets;

 

(11) Before
repaying all the debts under this contract, the borrower becomes or may become the shareholder or the “actual controller”
defined by the Company Law of the guarantor;

 

(12) The
borrower or its affiliate causes any liability accident or is made public by the media by violating any law, rule, regulation,
national policy or industrial standard;

 

(13) The
borrower or its affiliate encounters any safety or environment protection accident;

 

(14) The
relationship between the affiliate and the borrower is changed;

 

(15) The
borrower or its affiliate encounters any significant equity change;

 

(16) The
opinion issued by the external audit of the borrower on its financial statements is not the standard unreserved opinion;

 

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(17) The
borrower is or may be investigated, punished or taken with other similar measures by the competent authority as it violates the
law or rule and/or regulatory requirement;

 

(18)
The borrower or its affiliate is listed to be sanctioned by the UN, EU or US, or the country or area where the borrower or
its affiliate resides in is listed to be sanctioned by the UN, EU or US;

 

(19) There
is any other event with serious adverse influence on the solvency of the borrower or its affiliate.

 

▲▲8.7
In case of any change of guarantee under this contract that is adverse to the creditor’s right of the loaner, the
borrower should provide other guarantee recognized by the loaner in time.

 

The “change”
specified here includes but not limited to: merger, separation, shutdown, dissolution, suspension, cancellation, withdrawal of
business license, and applying or being applied for bankruptcy of the guarantor; significant change of the operation or financial
status of the guarantor; the guarantor is involved in any serious lawsuit, arbitration or administrative measures, or the major
assets is taken with property preservation or other compulsory measure; the security of the guarantee is or may be affected; the
value of the guarantee is or may be decreased, or taken with measures of property preservation, such as sealing; the guarantor
or its legal representative (responsible person) or officer violates any law, regulation or applicable rules of stock exchange;
the guarantor (when it is an individual) is missing or dead (announced to be dead); the guarantor breaches the guarantee contract;
there is any dispute between the guarantor and the borrower; the guarantor requires cancelling the guarantee contract; the guarantee
contract does not take effect, or is invalid or cancelled; the secured real right is not set up or take effect; any other event
affecting the security of the creditor’s right of the loaner.

 

▲▲8.8
The borrower promises: during the period since the signing date of this contract to the date at which the principal, interest
and relevant expenses of the loan under this contract are paid off, the financial index, external rating, as well as
production and operation qualification/license of the borrower will always comply with this contract, and such production and
operation qualification/license will pass the annual inspection if necessary.

 

8.9 The
borrower guarantees to obey laws, rules and relevant policies about the anti-money laundering of the government that it will not
conduct any activity involving money laundering or terrorism financing, cooperate with the loaner in identifying the customer,
keeping the transaction record, and reporting the large-amount and suspected transaction.

 

8.10 The
borrower guarantees that the borrower, together with any of its employee or agent will not offer, present, require or receive any
form of material interest not included in this contract to or from the loaner or its employee (including but not limited to cash,
physical card, tour, etc.) or any other non-material interest; or use the fund or service provided by the loaner to any activity
in relation to the corruption or bribery in any manner, whether directly or indirectly; once becoming aware of any circumstance
breaching this article, the borrower should provide clues and relevant information to the loaner on an authentic, complete and
accurate basis and offer the cooperation required by the loaner.

 

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▲▲Article 9. Adjustment
of Line of Credit, Acceleration of Maturity and Repricing of Risk

 

9.1 Any
event below should be deemed as the “early maturity event” of this contract:

 

(1) The
borrower does not repay the principal or interest of the loan according to the Application for Use of Line of Credit under
this contract;

 

(2) The
borrower makes any false representation or guarantee under this contract;

 

(3) Any
event that should be notified as specified in Article 8.6 occurs and influences or may influence the security of the creditor’s
right of the loaner;

 

(4) Any
law, rule or regulatory policy is changed to the extent that the loaner will or may violate the law or rule if it issues the loan
according to this contract;

 

(5) While
performing the contract with the loaner or any third party, the borrower conducts any breach or the debt may be or has been announced
to be mature in advance;

 

(6) The
borrower breaches any other article of this contract.

 

9.2 In
case of any “early maturity event”, the loaner may take any one, several or all measures below:

 

(1) To
lower, suspend or cancel the line of credit under this contract;

 

(2) To
stop issuing the loan unused by the borrower;

 

(3) To
stop paying the loan unused but already withdrawn by the borrower;

 

(4) To
require the borrower to supplement the issuance and payment conditions of loan to the loaner with the regulated period;

 

(5) To
require the borrower to change the payment mode as required by the loaner;

 

(6) To
reprice against the risk in executing the loan according to Article 9.3;

 

(7) To
announce that the principal of loan already issued under this contract becomes mature and require the borrower to repay the principal
and interest of all the mature loan immediately.

 

9.3 In
view of the production and operation situation of the borrower when signing this contract, both parties have determined the interest
rate and its adjustment through negotiations. The borrower agrees that in case of any “early maturity event”, the loaner
may reprice against the risk in executing the loan according to this article.

 

9.3.1 The
repricing mentioned above consists of two modes, including repricing and directly raising the loan interest rate. The specific
mode is agreed by both parties in Article 21.

 

9.3.2
“Negotiated reprice” means that the loaner may require the borrower to negotiate with the loaner within the
regulated period to raise the loan interest rate and both parties will determine the “repricing date” and
relevant interest rate in the form of supplemental agreement.

 

9.3.3
“Direct raise of loan interest rate” means that the loaner may directly raise the loan interest rate according to
this article and Article 21.

  

    13

     

    

 

9.3.3.1 Since
the loan sends a notice of “repricing date” to the borrower, the loan interest rate should be applied to each loan
that the borrower has not repaid by the “repricing date”.

 

9.3.3.2 If
the loan currency is RMB and the type of benchmark interest rate of each loan is kept unchanged, then the raised loan interest
rate should be determined by the fluctuating extent/increase (decrease) value specified in Article 21 on the basis of the benchmark
interest rate of “repricing date”.

 

If the “repricing
date” is set as T Day, then the benchmark interest rate to calculate the raised loan interest rate should be determined by
following rules

 

1 If
the benchmark interest rate of the People’s Bank applies, the benchmark interest rate should be the benchmark interest rate
of the People’s Bank on T Day;

 

2 If
LPR quotation of Bank of Communications applies, the benchmark interest rate should be the LPR value published on the latest business
day before T Day, and, if no LPR is published on the latest business day before T Day, the benchmark interest rate should be the
LPR value published on the former business day before that day;

 

3
If LPR mean interest rate applies, the benchmark interest rate should be the LPR value published on the latest business day before
T Day, and, if no LPR is published on the latest business day before T Day, the benchmark interest rate should be the LPR value
published on the former business day before that day.

 

9.3.3.3 If
the loan is in any foreign currency, the raised loan interest rate should be determined according to Article 21.

 

9.3.4 After
the loaner reprices against the risk according to the article mentioned above, the new interest rate should be applied since the
“repricing date”. Regulations on the fluctuation is still subject to that mentioned in Article 3 of this contract,
and if both parties negotiate to change the relevant regulation, the changed regulation shall be applied. If the loan becomes overdue
(including the circumstance that the borrower fails to make the repayment in time or the loan is announced by the loaner to be
mature in advance) or embezzled, the overdue and embezzlement default interest rate should be determined on the basis of the new
interest rate (including the interest rate adjusted according to regulations on fluctuation of this contract) while the compound
interest rate should also be correspondingly adjusted.

 

9.3.5 Execution
of the “repricing against risk” should not be deemed or construed as that the loaner waives any other right under any
law, rule or this contract. The loaner may take other protective measures for the creditor’s right according to laws, rules
and this contract, including but not limited to measures specified in Article 9.2 of this contract.

 

▲▲Article 10. Breach

 

10.1 If
the borrower does not repay the principle or interest of the loan in time or uses the loan for any purpose not included in this
contract, the loaner will collect the interest at the default interest rate of overdue or embezzled loan, and collect the compound
interest of the outstanding interest. If the default interest rate is adjusted according to this contract, the compound interest
rate should also be adjusted correspondingly.

 

    14

     

    

 

10.2 If
the borrower does not repay the principle or interest of the loan in time, it should assume the calling expense, lawsuit expense
(or arbitration expense), preservation expense, announcement expense, execution expense, attorney’s fee, travel expense and
other expenses of the loaner in realizing the creditor’s right.

 

▲▲Article 11. Deduction

 

11.1 The
borrower authorizes that in case of any payable principal, interest, default interest, compound interest or any other expense of
the loan, the loaner may deduct the fund in any account of the borrower opened at any branch of Bank of Communications Co., Ltd.
to repay the amount mentioned above.

 

11.2 After
such deduction, the loaner should inform the borrower of relevant account number, contract number, number of Application for
Use of Line of Credit, deduction amount and remaining debt.

 

11.3 If
the deducted fund is insufficient to repay all the debt of the borrower, the debt to be repaid by such fund should be determined
according to this contract.

 

11.4 If
the currency of the deducted fund is different from that of the debt to be repaid, the deducted fund should be converted at the
exchange rate published by Bank of Communications Co., Ltd. at the time of deduction. If any settlement, sales or exchange procedure
of foreign currency is necessary, the borrower is obliged to assist the loaner and assume the risk in exchange rate.

 

Article 12. Notice

 

12.1 Contact
details provided by the borrower in this contract (including mailing address, telephone number and fax number) are all authentic
and valid. In case of any change of any contact detail, the borrower should send/deliver such change to the mailing address offered
by the loaner in this contract immediately. Such change should take effect when the loaner receives the notice of change.

 

12.2 Unless
otherwise specified in this contract, the loaner may send a notice to the borrower in any manner below. The loaner may choose the
manner it thinks fit but is relieved from any liability for the error, omission or delay caused by the postal service, fax, telephone
or any other communication system. If the loaner chooses several manners, the one delivering the notice to the borrower, the fastest
should prevail.

 

(1) If
the loaner chooses the announcement, the date at which the loaner publishes the announcement on its website, online bank, telephone
bank or outlet should be deemed as the delivery date;

 

(2) If the loaner chooses the personal delivery, the date at which the borrower signs
to confirm the reception should be deemed as the delivery date;

 

    15

     

    

 

(3) If
the loaner chooses the postal service (including express delivery, ordinary mail and registered mail) to send the notice to the
latest mailing address of the borrower that the loaner knows, the third day (in the same city)/the fifth day (in different cities)
since the sending date should be deemed as the delivery date;

 

(4) If
the loaner chooses the fax, SMS or other electronic communication means to deliver the notice to the latest fax number of the borrower
that the loaner knows, the mobile telephone number or e-mail appointed by the borrower, the sending date should be deemed as the
delivery date.

 

12.3 The
borrower agrees that unless the loaner receives the written notice about changing the mailing address from the borrower, the mailing
address provided by the borrower in this contract is the address for the court to send the judicial instrument and other written
documents. During the process of dispute solution, if the court sends the judicial instrument or other written documents to the
latest mailing address of the borrower that the loaner knows through the postal service (including express delivery, ordinary mail
and registered mail), the date at which the borrower signs on the receipt should be regarded as the delivery date; if the borrower
does not sign on the receipt, the third day (in the same city)/the fifth day (in different cities) since the sending date should
be deemed as the delivery date;

 

Except for the written
judgment, written verdict or mediation agreement, the court may send any notice to the borrower by any communication means specified
in Article 12.2. The court may choose the communication means it thinks fit but is relieved from any liability for the error, omission
or delay caused by the postal service, fax, telephone or any other communication system. If the court chooses several manners,
the one delivering the notice to the borrower, the fastest should prevail.

 

▲▲Article 13. Disclosure
and Confidentiality

 

13.1 With respect to
the information and materials of the borrower obtained in the signing and performance of this contract, the loaner may not violate
any law, rule or regulatory requirement to use such information and materials. It should assume the confidentiality liability but
not disclose such information and materials to any third party, except for under following circumstances:

 

(1) The
law or rule requires such disclosure;

 

(2) The
judicial department or regulatory authority requires such disclosure;

 

(3) When
the borrower does not repay the principal and/or interest of the loan in time, the loaner has to make the disclosure to the external
professional advisor for the purpose of realizing the creditor’s right under this contract but such external professional
advisor must assume the confidentiality obligation;

 

(4) The
borrower agrees or authorizes the loaner to make the disclosure.

 

13.2 The
borrower confirms that it has signed the Credit Information Inquiry and Provision Authorization. The loaner may inquire,
use and keep the credit information of the borrower within the scope regulated by the authorization.

 

13.3 Besides
the circumstance specified in Article 13.1 and Article 13.2, the borrower further agrees Bank of Communications Co., Ltd. to use
or disclose the information and materials of the borrower under following circumstances, including but not limited to the basic
information, credit transaction information, adverse information and other relevant information and materials of the borrower,
and is willing to assume all the consequences thereof:

 

    16

     

    

 

Bank of Communications
Co., Ltd. may disclose such information and materials on a confidentiality basis to the business outsourcing institution, third
party service provider, other financial institutions and other institutions or individuals that the loaner deems necessary, including
but not limited to other branches or wholly-owned subsidiaries of Bank of Communications Co., Ltd. for the purpose below: 1
It conducts the line of credit business or any relevant business, such as promoting the line of credit business of Bank of Communications
Co., Ltd., calling for the debt from the borrower and transferring the creditor’s right of the line of credit business; 2
The loaner provides or may provide the borrower with the new product or service, or further provides the service.

 

Whether Article 13.3
is applicable should be subject to Article 24 of this contract.

 

Article 14. Applicable Laws and Dispute
Solution

 

Laws of the People’s
Republic of China (for the purpose of this contract, excluding laws of Hong Kong, Macau and Taiwan) apply to this contract. Any
dispute under this contact should be brought to the competent court at the place of the loaner, unless otherwise regulated in this
contract. Both parties should continue to perform those articles not involved in the dispute during the period of dispute solution.

 

Article 15. Effectiveness and Constitution
of Contract

 

15.1 This
contract takes effect with the signature of the legal representative (responsible person) or the authorized representative (or
seal) and the common seal of the borrower, as well as the signature of the responsible person or the authorized representative
(or seal) and the common seal of the loaner.

 

15.2 The
Application for Use of Line of Credit and other relevant documents and materials signed under this contract are indispensable
parts of this contract.

 

15.3 Application
for Use of Line of Credit is the supplement to this contract. Unless otherwise regulated in the Application for Use of
Line of Credit, rights, obligations and other matters of the borrower and the loaner should still be subject to this
contract.

 

Article 16. Specific Content of Line
of Credit

 

16.1 Currency of line
of credit: RMB; Amount in words: five million yuan;  Available for √RMB
□(foreign currency); Belonging to √Revolving line of
credit □One-time line of credit (used for several time) □One-time line of credit (used for only once).

 

16.2 Purpose of line
of credit: operation turnover .

 

16.3 Period
of line of credit is October 24, 2018 to October 24, 2019.

 

Article 17. Interest Rate

 

If the loan is in any
foreign currency, the determination and adjustment of interest rate, and the default interest rate of overdue and embezzled loan
are regulated as follows:

 

_________________________________________/_________________________________________

 

    17

     

    

 

Article 18. Account

 

18.1 The borrower appoints
the following account to be the issuance account. The account □is √is
not the dedicated loan issuance account opened at the loaner. If both parties otherwise regulate in the Application for Use
of Line of Credit, such Application for Use of Line of Credit should prevail.

 

	Account name:	CLPS
	 	 
	Account number:	310066865018010213932

 

Bank of deposit: Zhangjiang
Sub-branch of Bank of Communications

 

18.2 The borrower appoints
that:

 

(1) The
repayment account:

 

	Account name:	CLPS
	 	 
	Account number:	310066865018010213932

 

Bank of deposit: Zhangjiang
Sub-branch of Bank of Communications

 

(2) The
fund collection account:

 

	Account name:	CLPS
	 	 
	Account number:	310066865018010213932

 

Bank of deposit: Zhangjiang
Sub-branch of Bank of Communications

 

Article 19. Issuance, Payment and Repayment
of Loan

 

19.1 The period of each
loan withdrawn under this contract should be no longer than 12√months
□days, and the maturity date of all the loan should be no
later than April 24, 2020.

 

19.2 The limit of independent
payment under this contract should be RMB0.

 

19.3 The entrusted payment
by loaner is compulsory once any condition below is met:

 

_________________________________________/_________________________________________

 

___________________________________________________________________________________

 

19.4 In the mode of
independent payment by the borrower, the borrower should report the payment of loan fund to the loaner within 15 days since the
issuance of loan.

 

Article 20. Financial Restriction, External
Rating, Production and Operation Qualification/License

 

20.1 Limit on the external
investment by the borrower is RMB10,000,000,000; limit on the increase of debt financing is RMB10,000,000,000.

 

    18

     

    

 

20.2 Specific regulations
on the financial indexes of the borrower:

 

(1) _______________________________________/_______________________________________

 

(2) _______________________________________________________________________________

 

(3) _______________________________________________________________________________

 

20.3 Specific regulations
on the external rating:

 

(1) _______________________________________/_______________________________________

 

(2) _______________________________________________________________________________

 

20.4 Specific regulations
on the production and operation qualification/license of the borrower:

 

(1) _______________________________________/_______________________________________

 

(2) _______________________________________________________________________________

 

▲▲Article 21. Repricing
of Risk

 

21.1 This contract adopts
the first repricing mode below: (1) Repricing through negotiations; (2) Direct raising the loan interest rate.

 

21.2 Once the “direct
raising the loan interest rate” is adopted:

 

21.2.1 If the loan currency
is RMB, the fluctuation extent/increase (decrease) value of the raised loan: □Benchmark interest rate (without fluctuation/increase
or decrease) □Fluctuated upwards by     /    % □Fluctuated
downwards by     /    % □Increased by     /    %
 □Decreased by     /    %. If any specific regulation is reached in a
certain loan, the fluctuation extent/increase (decrease) value of the raised interest rate should be subject to the applicable
Application for Use of Line of Credit.

 

21.2.2 If the loan currency
is a foreign currency, interest rate of the raised loan is:

 

____/___________

 

Article 22. Contact Details

 

Contact details of the
borrower to receive the notice specified in Article 12:

 

	Mailing address:	 	2F, Building 18, 498 Guoshoujing Road
	 	 	 
	Addressee:	 	Li Jin
	 	 	 
	Post code:	 	 
	 	 	 
	Tel:	 	 
	 	 	 
	Mobile:	 	15821203042
	 	 	 
	Fax:	 	 
	 	 	 
	E-mail:	 	 

 

    19

     

    

 

Article 23. Counterparts

 

This contract is made
with three copies. Both parties and the guarantor (if any) holds one copy (ies) respectively.

 

Article 24. Miscellaneous

 

24.1 Both parties agree
that Article 13.3 √applies □does not apply to this
contract.

 

24.2 The loaner will
issue the legal VAT invoice according to laws, rules and regulations, while the specific time and mode should be determined by
both parties through negotiations.

 

24.3 The payment mode
of loan under this contract should be subject to the Application for Use of Line of Credit signed by the loaner.

 

Borrower:    CLPS   

 

Legal representative (responsible person):
   Yang Xiaofeng   

 

Address:    Room 26C01,
828-838 Zhangyang Road, China (Shanghai) Free Trade Area   

 

Loaner:    Xinqu Branch
(Sub-branch) of Bank of Communications Co., Ltd.   

 

Responsible person:    Cai
Yue   

 

Mailing address:    560
Songtao Road   

 

 

	The borrower has read this contract and the loaner has made detailed descriptions as required by the borrower. The borrower possesses no objection or doubt when signing this contract and understands all the articles, especially the meaning and legal consequence of those marked with ▲▲.

 

(No text below in this page)

 

    20

     

    

 

	 	 	 
	 	 	 
	Borrower: (Seal)	 	Loaner: (Seal)
	 	 	 
	(Seal: CLPS)	 	(Seal: Line of Credit Business Contract Seal of Shanghai Xinqu Sub-branch of Bank of Communications Co., Ltd.)
	 	 	 
	
        Legal
representative (responsible person) or authorized representative
	 	
        Legal representative (responsible
person) or authorized representative

	 	 	 
		 	
	 	 	 
	(Signature or seal)	 	(Signature or seal)
	 	 	 
	Date: December 5, 2018	 	Date: December 5, 2018

 

    21

     

    

 

	Application for Use of Line of Credit of Bank of Communications	For customer
	Application date: November 6, 2017
	Application No.: Z1711LN1567513400001	Barcode
	
        Xinqu Branch (Sub-branch) of Bank of Communications
        Co., Ltd. (hereinafter referred to as “loaner”)

        In accordance with the
        Current Fund Loan Contract in the number of Z1J11LN15675134 between the borrower and the loaner (hereinafter referred to
        as Loan Contract) and the / between the loaner and the guarantor in the number of /, the borrower hereby applies
        for using the line of credit under the Contract. Specific situation of this loan is as follows:

	1. Customer and account information	Customer number*	0115680058795108
	Loan account number	310899999900003435325
	Customer*	Chinese name	CLPS
	English name	 
	Issuance account*	310066865018010213932	Issurance account name	CLPS
	2. Loan information	Loan currency*	RMB	100B	10B	B	100M	10M	M	100,000	10,000	1,000	100	10	1	0.1	0.01
	Principal amount (in words)*	Four million nine hundred thousand yuan	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Period of loan*	November 8, 2017 to February 8, 2018 (maturity date)	Value date	■0- bookkeeping date of loan
	Payment mode of loan*	■1- Entrusted payment
	Cause and purpose of loan	Operation turnover
	3. Loan interest rate	■00- fixed interest rate	Fixed interest rate ( )% (Note: It is used to determine the applicable interest rate during the period of loan and the loan interest rate would not be adjusted during the period)
	Type of benchmark interest rate	■05-LPR (quotation of People’s Bank) (6 months - 1 year (included)
	Applicable date of benchmark interest rate	■0- bookkeeping date of loan
	Fluctuation extent/increase (decrease) value	■03- plus (1.355000)%
	Fluctuation rules of interest rate	■04- no fluctuation	Fluctuation cycle of interest rate	 	Unit price of fluctuation cycle of interest rate	 	Beginning date of fluctuation at specific date ()
	Note: In case of adjustment of benchmark interest rate during the period of loan, the adjustment date of loan interest rate should be determined by the “fluctuation rules of interest rate”. If “no fluctuation” is selected, the loan interest rate during the period of loan will not be adjusted; if “fluctuating at bookkeeping date of loan” or “fluctuating at specific beginning date” is selected, the cycle of adjustment of loan interest rate should be calculated since such “bookkeeping date of loan” or “specific beginning date”. The column of interest rate fluctuation cycle unit may be filled with day or month and the column of interest rate fluctuation cycle should be filled with the quantity of interest rate fluctuation cycles. If the quantity of interest rate fluctuation cycle is “1” while the interest rate fluctuation unit is “day”, then the adjustment date of benchmark interest rate should be the adjustment date of loan interest rate; if the quantity of interest rate fluctuation cycle is “3” while the interest rate fluctuation unit is “month”, then the adjustment date of loan interest rate should be the end of every third month since the “bookkeeping date” or “specific date”, the same below (such rules also apply to the “overdue default interest rate” and “compound interest rate”).
	4. Repayment and interest settlement information	Repayment mode*	■L03- interest by installments and principal by lump sum
	Interest cycle	■3- Quarter
	Repayment account number 1 (dedicated account)	310066865018010213932	Repayment account number 2	 	Repayment account number 3	 
	Repayment account 1 name (dedicated account)	CLPS	Repayment account name 2	 	Repayment account name 3	 
	 	
	Repayment account number 4	 	Repayment account number 4	 
	Repayment account name 4	 	Repayment account name 5	 
	
        The borrower hereby signs and seals to
        confirms that it has read and understood all the content in the front and back of this application, and possesses no objection
        or doubt about any content of this application.

        (Financial Seal of CLPS)

        (CLPS)
	
        Loaner (common seal)

        (Seal: Line of Credit Business Contract
        Seal of Shanghai Xinqu Sub-branch of Bank of Communications Co., Ltd.)

         

        Responsible person or authorized representative
        (signature or seal)

	 	 	
        (Common seal and seal of reserved settlement
        account of the borrower)

        Legal representative (responsible person)
        or authorized representative (signature or seal)

        Date: November 6, 2017

	Printed by bank
	
         

         

         

        Honorable borrower, CLPS:

        The loan you apply for withdrawing according
        to the Contract in the number of Z1711LN15675134 (amount: 4,900,000.00; currency: RMB) was deposited into your issuance
        account (310066865018010213932) on November 8, 2017. The value date is 2017-11-08 and the actual interest rate of the loan at the
        issuance date is 5.655%. Please have it checked.

         

        This receipt of customer slip of the application
        is valid with signature and seal of the bank after the issuance.

         
	
        

         

        Business seal of bank:

        (Accounting Business Seal of Shanghai Branch
        of Bank of Communications)

         

 

     

     

    

 

	Application for Use of Line of Credit of Bank of Communications (Back)
	Application No.: Z1711LN1567513400001	Barcode

	5. Expenses assumed by the borrower	Type	Amount	Annual rate	Collection mode	Payment account number	Payment account name
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	6. Compulsory information for entrusted loan	Customer number of entruster	 	Entruster	 
	Fund account number of entruster	 	Fund account name of entruster	 

	7. Compulsory information for subsidized loan	Type of subsidized loan	 	Preferential interest difference	 
	Beginning date of subsidy	 	Ending date of subsidy	 
	8. Compulsory information for packing loan	Name and number of export contract	L/C issue bank	Number of L/C	Amount of L/C (in words)	Currency of L/C	Validity period of L/C	Expiry date of L/C	Revision number of L/C	Revised content of L/C
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

	9. Repayment plan and interest payment plan	Type	Repayment plan of principal by installments	Interest payment plan	Payment plan
	Regular plan	
        Initial repayment date: ( )

        Repayment cycle: ( )

        Repayment cycle unit:

        (in the mode of matching the principal and matching the interest,
        the actual repayment installments and repayment amount of each installment are subject to the repayment schedule generated after
        the issuance)
	
        Initial repayment date: ( )

        Repayment cycle: ( )

        Repayment cycle unit:
	/
	Irregular plan	Repayment installment	Repayment date	Repayment amount	Interest payment installment	Interest payment date	Interest payment amount (only applied to entrusted payment)	Payment installment	Payment date	Payment amountEX-10.3

 Exhibit 10.3 

OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

1. Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility,

  

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

 

	 	•	 	 to promote the success of the Company’s business. 

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock
Appreciation Rights, Performance Units and Performance Shares. 
 2. Definitions. As used herein, the following definitions will
apply: 
 (a) “Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with
Section 4 of the Plan. 
 (b) “Applicable Laws” means the legal and regulatory requirements relating to the
administration of equity-based awards and the related issuance of Shares thereunder, including but not limited to U.S. federal and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on
which the Common Stock is listed or quoted and the applicable laws of any non-U.S. country or jurisdiction where Awards are, or will be, granted under the Plan. 

(c) “Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted
Stock, Restricted Stock Units, Performance Units or Performance Shares. 
 (d) “Award Agreement” means the written or
electronic agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 

(e) “Board” means the Board of Directors of the Company. 

(f) “Change in Control” means the occurrence of any of the following events: 

(i) A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however,
that for 

 
purposes of this subsection, (A) the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of
the Company will not be considered a Change in Control, and (B) if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions
as their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, the direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of the Company or of the
ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (i). For this purpose, indirect beneficial ownership will include, without limitation, an interest resulting from ownership of the
voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or 

(ii) A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any
twelve (12)-month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (ii), if any Person is considered to be
in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

(iii) A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or
has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal
to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following
will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of
assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or more of the total value or
voting power of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or
(4) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value
means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a
merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 Notwithstanding the
foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Section 409A. 

  
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 Further and for the avoidance of doubt, a transaction will not constitute a Change in
Control if: (i) its sole purpose is to change the state of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the
Company’s securities immediately before such transaction. 
 (g) “Code” means the Internal Revenue Code of 1986, as
amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation
amending, supplementing or superseding such section or regulation. 
 (h) “Committee” means a committee of Directors or of
other individuals satisfying Applicable Laws appointed by the Board, or a duly authorized committee of the Board, in accordance with Section 4 hereof. 

(i) “Common Stock” means the common stock of the Company. 

(j) “Company” means Oyster Point Pharma, Inc., a Delaware corporation, or any successor thereto. 

(k) “Consultant” means any natural person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
bona fide services to such entity, provided the services (i) are not in connection with the offer or sale of securities in a capital-raising transaction, and (ii) do not directly promote or maintain
a market for the Company’s securities, in each case, within the meaning of Form S-8 promulgated under the Securities Act, and provided, further, that a Consultant will include only those persons to whom
the issuance of Shares may be registered under Form S-8 promulgated under the Securities Act. 
 (l)
“Director” means a member of the Board. 
 (m) “Disability” means total and permanent disability as defined
in Section 22(e)(3) of the Code, provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time. 
 (n)
“Employee” means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient
to constitute “employment” by the Company. 
 (o) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (p) “Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in
exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to a financial
institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is increased or reduced. The Administrator will determine the terms and conditions of any Exchange Program in its sole
discretion. 

  
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 (q) “Fair Market Value” means, as of any date, the value of Common Stock
determined as follows: 
 (i) For purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price
to the public as set forth in the final prospectus included within the registration statement in Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Company’s
Common Stock. 
 (ii) For purposes of any Awards granted on any other date, the Fair Market Value will be the closing sales price for Common
Stock as quoted on any established stock exchange or national market system (including without limitation the New York Stock Exchange, NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market of The NASDAQ Stock Market) on
which the Common Stock is listed on the date of determination (or the closing bid, if no sales were reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable. If the determination date for the
Fair Market Value occurs on a non-trading day (i.e., a weekend or holiday), the Fair Market Value will be such price on the immediately preceding trading day, unless otherwise determined by the Administrator.
In the absence of an established market for the Common Stock, the Fair Market Value thereof will be determined in good faith by the Administrator. 

The determination of fair market value for purposes of tax withholding may be made in the Administrator’s discretion subject to
Applicable Laws and is not required to be consistent with the determination of Fair Market Value for other purposes. 
 (r) “Fiscal
Year” means the fiscal year of the Company. 
 (s) “Incentive Stock Option” means an Option intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (t)
“Inside Director” means a Director who is an Employee. 
 (u) “Nonstatutory Stock Option” means an Option
that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option. 
 (v) “Officer” means a
person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 

(w) “Option” means a stock option granted pursuant to the Plan. 

(x) “Outside Director” means a Director who is not an Employee. 

(y) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Section 424(e) of the Code. 

  
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 (z) “Participant” means the holder of an outstanding Award. 

(aa) “Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment of
performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10. 
 (bb) “Performance
Unit” means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of
the foregoing pursuant to Section 10. 
 (cc) “Period of Restriction” means the period during which the transfer of
Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the
occurrence of other events as determined by the Administrator. 
 (dd) “Plan” means this 2019 Equity Incentive Plan. 

(ee) “Registration Date” means the effective date of the first registration statement that is filed by the Company and
declared effective pursuant to Section 12(b) of the Exchange Act, with respect to any class of the Company’s securities. 

(ff) “Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued
pursuant to the early exercise of an Option. 
 (gg) “Restricted Stock Unit” means a bookkeeping entry representing an
amount equal to the Fair Market Value of one Share, granted pursuant to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(hh) “Rule 16b-3” means Rule 16b-3 of the
Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

(ii) “Section 16(b)” means Section 16(b) of the Exchange Act. 

(jj) “Section 409A” means Code Section 409A, as it has been and may be amended from time to time, and
any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

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

(ll) “Service Provider” means an Employee, Director or Consultant. 

(mm) “Share” means a share of the Common Stock, as adjusted in accordance with Section 14 of the Plan. 

(nn) “Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to Section 9
is designated as a Stock Appreciation Right. 

  
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 (oo) “Subsidiary” means a “subsidiary corporation,” whether now
or hereafter existing, as defined in Section 424(f) of the Code. 
 3.
Stock Subject to the Plan. 
 (a)
Stock Subject to the Plan. Subject to the provisions of Section 14 of the Plan and the automatic increase set forth in Section 3(b) of the Plan, the maximum
aggregate number of Shares that may be issued under the Plan is 2,700,000 Shares, plus the sum of (i) any Shares that, as of the Registration Date, have been reserved but not issued pursuant to any awards granted under the Company’s
2016 Equity Incentive Plan, as amended (the “Existing Plan”) and are not subject to any awards granted thereunder, and (ii) any Shares subject to stock options, restricted stock units, or similar awards granted under the Existing Plan
that, on or after the Registration Date, expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or
repurchased by the Company due to failure to vest, with the maximum number of Shares to be added to the Plan pursuant to clauses (i) and (ii) equal to 2,859,775 Shares. The Shares may be authorized, but unissued, or reacquired Common
Stock. 
 (b) Automatic Share Reserve Increase. Subject to the provisions of Section 14 of the Plan, the number of Shares
available for issuance under the Plan will be increased on the first day of each Fiscal Year beginning with the 2021 Fiscal Year, in an amount equal to the least of (i) 4,000,000 Shares, (ii) four percent (4%) of the outstanding
Shares on the last day of the immediately preceding Fiscal Year or (iii) such number of Shares determined by the Board. 
 (c) Lapsed
Awards. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares, is
forfeited to or repurchased by the Company due to failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares), which were subject thereto will become available for
future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued (i.e., the net Shares issued) pursuant to a Stock Appreciation Right will cease to be available under
the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned
to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the
Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for
future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the
foregoing and, subject to adjustment as provided in Section 14, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a), plus, to the extent
allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Sections 3(b) and 3(c). 

  
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 (d) Share Reserve. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 4. Administration of
the Plan. 
 (a) Procedure. 

(i) Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan.

 (ii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as exempt under
Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 

(iii) Other Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee,
which committee will be constituted to satisfy Applicable Laws. 
 (b) Powers of the Administrator. Subject to the provisions of the
Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i) to determine the Fair Market Value; 

(ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi) to institute and determine the terms and conditions of an Exchange Program; 

(vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

  
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 (viii) to prescribe, amend and rescind rules and regulations relating to the Plan,
including rules and regulations relating to sub-plans established for the purpose of satisfying applicable non-U.S. laws or for qualifying for favorable tax treatment
under applicable non-U.S. laws; 
 (ix) to modify or amend each Award (subject to Section 19 of
the Plan), including but not limited to the discretionary authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(b) of the Plan regarding Incentive Stock
Options); 
 (x) to allow Participants to satisfy tax withholding obligations in such manner as prescribed in Section 15 of the Plan;

 (xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously
granted by the Administrator; 
 (xii) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that
would otherwise be due to such Participant under an Award; and 
 (xiii) to make all other determinations deemed necessary or advisable for
administering the Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions,
determinations and interpretations will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility.
Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 

6. Stock Options. 
 (a)
Limitations. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate fair market value of the shares
with respect to which incentive stock options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such
options will be treated as nonstatutory stock options. For purposes of this Section 6(a), incentive stock options will be taken into account in the order in which they were granted. The fair market value of the shares will be determined as of
the time the option with respect to such shares is granted. 
 (b) Term of Option. The term of each Option will be stated in the Award
Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a
Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive
Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement. 

  
 - 8 - 

 (c) Option Exercise Price and Consideration. 

(i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
the Administrator, subject to the following: 
 (1) In the case of an Incentive Stock Option 

(A) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the
voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. 

(B) granted to any Employee other than an Employee described in paragraph (A) immediately above, the per Share exercise price will be no
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
 (2) In the case of a Nonstatutory Stock
Option, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 

(3) Notwithstanding the foregoing, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair
Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 

(ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 
 (iii) Form of
Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of
consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market
Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided that accepting such Shares will not result in any adverse accounting consequences to the Company, as the
Administrator determines in its sole discretion; (5) consideration received by the Company under a broker-assisted (or other) cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection
with the Plan; (6) by net exercise; (7) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or (8) any combination of the foregoing methods of payment. 

  
 - 9 - 

 (d) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) a notice of exercise (in such form as the Administrator may specify
from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any
consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the
name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other
rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment
will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 14 of the Plan. 

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised. 
 (ii) Termination of Relationship as a Service Provider.
If a Participant ceases to be a Service Provider, other than upon the Participant’s termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within such period of time as is
specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the
Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her
entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and
the Shares covered by such Option will revert to the Plan. 
 (iii) Disability of Participant. If a Participant ceases to be a
Service Provider as a result of the Participant’s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in
no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the
Participant’s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the
Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

  
 - 10 - 

 (iv) Death of Participant. If a Participant dies while a Service Provider, the
Option may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised later than the
expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the Administrator.
If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the
Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following Participant’s death. Unless
otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so
exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 (v)
Tolling Expiration. A Participant’s Award Agreement may also provide that: 
 (1) if the exercise of the Option following the
termination of Participant’s status as a Service Provider (other than upon the Participant’s death or Disability) would result in liability under Section 16(b), then the Option will terminate on the earlier of (A) the expiration
of the term of the Option set forth in the Award Agreement, or (B) the tenth (10th) day after the last date on which such exercise would result in liability under Section 16(b); or 

(2) if the exercise of the Option following the termination of the Participant’s status as a Service Provider (other than upon the
Participant’s death or Disability) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements under the Securities Act, then the Option will terminate on the earlier of (A) the
expiration of the term of the Option or (B) the expiration of a period of thirty (30)-day period after the termination of the Participant’s status as a Service Provider during which the exercise of
the Option would not be in violation of such registration requirements. 
 7. Restricted Stock. 

(a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

(b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of
Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted
Stock until the restrictions on such Shares have lapsed. 

  
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 (c) Transferability. Except as provided in this Section 7 or the Award
Agreement, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as
it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 7, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The
Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 
 (f) Voting Rights.
During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g) Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be
entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions
on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return of Restricted
Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

8. Restricted Stock Units. 

(a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the
Administrator determines that it will grant Restricted Stock Units under the Plan, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

 (b) Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the extent
to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or
individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its discretion. 

(c) Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout
as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout. 

  
 - 12 - 

 (d) Form and Timing of Payment. Payment of earned Restricted Stock Units will be made
as soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of both.

 (e) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the
Company. 
 9. Stock Appreciation Rights. 

(a) Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of
Shares. The Administrator will have complete discretion to determine the number of Stock Appreciation Rights granted to any Service Provider. 

(c) Exercise Price and Other Terms. The per share exercise price for the Shares to be issued pursuant to exercise of a Stock
Appreciation Right will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have
complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 
 (d) Stock Appreciation
Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the
Administrator, in its sole discretion, will determine. 
 (e) Expiration of Stock Appreciation Rights. A Stock Appreciation Right
granted under the Plan will expire ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement, as determined by the Administrator, in its sole discretion. Notwithstanding the foregoing, the rules of
Section 6(d) relating to exercise also will apply to Stock Appreciation Rights. 
 (f) Payment of Stock Appreciation Right
Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: 

(i) The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times 

(ii) The number of Shares with respect to which the Stock Appreciation Right is exercised. 

  
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 At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise
may be in cash, in Shares of equivalent value, or in some combination thereof. 
 10. Performance Units and Performance Shares. 

(a) Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any time and from
time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in determining the number of Performance Units and Performance Shares granted to each Participant. 

(b) Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by the Administrator on or
before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 

(c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions (including,
without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to the Service Providers.
The time period during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will specify the
Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, business unit or
individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 

(d) Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will
be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting
provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance Unit/Share. 

(e) Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made as soon as
practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of
the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof. 
 (f)
Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 

  
 - 14 - 

 11. Outside Director Limitations. No Outside Director may be paid, issued or granted,
in any Fiscal Year, cash compensation and equity awards (including any Awards issued under this Plan) with an aggregate value greater than $750,000 (with the value of each equity award based on its grant date fair value (determined in
accordance with U.S. generally accepted accounting principles)). Any cash compensation paid or Awards granted to an individual for his or her services as an Employee, or for his or her services as a Consultant (other than as an Outside Director),
will not count for purposes of the limitation under this Section 11. 
 12. Leaves of Absence/Transfer Between Locations. Unless
the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the Company or
(ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is
guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day of such leave any Incentive Stock Option held by the
Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 
 13.
Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and
may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 

14. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares
or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, will adjust the number and class of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share limits in Section 3 of the Plan.

 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action. 

(c) Change in Control. In the event of a merger of the Company with or into another corporation or other entity or a Change in Control,
each outstanding Award will be treated as the Administrator determines subject to the restriction in the following paragraph, including, without limitation, that each Award be assumed or an equivalent option or right substituted by the successor
corporation or a Parent or Subsidiary of the successor corporation. The Administrator will not be required to treat all Awards or Participants similarly in the transaction. 

  
 - 15 - 

 In the event that the successor corporation does not assume or substitute for the Award, the
Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted
Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, unless specifically provided otherwise under the applicable Award Agreement, a Company policy applicable to the Participant, or other written
agreement between the Participant and the Company, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition, if an Option or
Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be exercisable for a period of
time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the right
to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Common Stock for
each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an
Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market
value to the per share consideration received by holders of Common Stock in the Change in Control. 
 Notwithstanding anything in this
Section 14(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor
modifies any of such performance goals without the Participant’s consent; provided, however, a modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed
to invalidate an otherwise valid Award assumption. 
 (d) Outside Director Awards. With respect to Awards granted to an Outside
Director, in the event of a Change in Control, then the Outside Director will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which would not
otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, unless specifically provided otherwise under the applicable Award Agreement,
a Company policy applicable to the Outside Director, or other written agreement between the Outside Director and the Company, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels
and all other terms and conditions met. 

  
 - 16 - 

 15. Tax. 

(a) Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or such
earlier time as any tax withholding obligations are due, the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy U.S. federal, state, or local taxes, non-U.S. taxes, or other taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof). 

(b) Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to
time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Shares having a fair
market value not in excess of the maximum statutory amount required to be withheld, or (iii) delivering to the Company already-owned Shares having a fair market value not in excess of the maximum statutory amount required to be withheld. The
fair market value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

(c) Compliance With Section 409A. Awards will be designed and operated in such a manner that they are either exempt
from the application of, or comply with, the requirements of Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A, except as otherwise
determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to meet the requirements of Section 409A and will be construed and interpreted in accordance with such intent, except as
otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Section 409A the Award will be granted, paid, settled or deferred in a manner that
will meet the requirements of Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A. In no event will the Company (or any Parent or Subsidiary
of the Company, as applicable) reimburse a Participant for any taxes imposed or other costs incurred as a result of Section 409A. 
 16.
No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the Participant’s relationship as a Service Provider, nor will they interfere in any way with the
Participant’s right or the right of the Company (or any Parent or Subsidiary of the Company) to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws. 

17. Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 

  
 - 17 - 

 18. Term of Plan. Subject to Section 23 of the Plan, the Plan will become
effective upon the later to occur of (i) its adoption by the Board or (ii) the business day immediately prior to the Registration Date. It will continue in effect for a term of ten (10) years from the date adopted by the Board, unless
terminated earlier under Section 19 of the Plan. 
 19. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Administrator may at any time amend, alter, suspend or terminate the Plan. 

(b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to
comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the
Plan will materially impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will
not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

20. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to an Award unless the exercise of such Award and the issuance and delivery of
such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation
is required. 
 21. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having
jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any U.S. federal or state law, any non-U.S. law, or the rules and regulations of the
Securities and Exchange Commission, the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company’s
counsel to be necessary or advisable for the issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration,
qualification or rule compliance will not have been obtained. 

  
 - 18 - 

 22. Forfeiture Events. 

(a) All Awards granted under the Plan will be subject to recoupment under any clawback policy that the Company is required to adopt pursuant to
the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable Laws. In
addition, the Administrator may impose such other clawback, recovery or recoupment provisions in an Award Agreement as the Administrator determines necessary or appropriate, including but not limited to a reacquisition right regarding previously
acquired Shares or other cash or property. Unless this Section 22 is specifically mentioned and waived in an Award Agreement or other document, no recovery of compensation under a clawback policy or otherwise will be an event that triggers or
contributes to any right of a Participant to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company or any Subsidiary. 

(b) The Administrator may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award
will be subject to reduction, cancellation, forfeiture, or recoupment upon the occurrence of specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but will not be limited
to, termination of such Participant’s status as a Service Provider for cause or any specified action or inaction by a Participant, whether before or after the date Participant is no longer a Service Provider, that would constitute cause for
termination of such Participant’s status as a Service Provider. 
 (c) If the Company is required to prepare an accounting restatement
due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under securities laws, any Participant who (1) knowingly or through gross negligence engaged in the misconduct or who
knowingly or through gross negligence failed to prevent the misconduct or (2) is one of the individuals subject to automatic forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, must reimburse the Company the amount of any
payment in settlement of an Award earned or accrued during the 12-month period following the first public issuance or filing with the United States Securities and Exchange Commission (whichever first
occurred) of the financial document embodying such financial reporting requirement. 
 23. Stockholder Approval. The Plan will be
subject to approval by the stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

  
 - 19 - 

 OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

Unless otherwise defined herein, the terms defined in the Oyster Point Pharma, Inc. 2019 Equity Incentive Plan (the “Plan”)
will have the same defined meanings in this Stock Option Agreement, which includes the Notice of Stock Option Grant (the “Notice of Grant”), the Terms and Conditions of Stock Option Grant attached hereto as Exhibit A, the Exercise
Notice attached hereto as Exhibit B, and all other exhibits and appendices attached hereto (all together, the “Option Agreement”). 

NOTICE OF STOCK OPTION GRANT 

Participant:     

Address:     

The undersigned Participant has been granted an Option to purchase Common Stock of Oyster Point Pharma, Inc. (the “Company”), subject
to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

					
	   Grant Number:
	  	  
	  	
			
	   Date of Grant:
	  	  
	  	
			
	   Vesting Commencement Date:
	  	  
	  	
			
	   Number of Shares Granted:
	  	  
	  	
			
	   Exercise Price per Share (in U.S. Dollars): $
	  	  
	  	
			
	   Total Exercise Price(in U.S. Dollars): $
	  	  
	  	
			
	   Type of Option:
	  	___ Incentive Stock Option	  	
			
		  	___ Nonstatutory Stock Option	  	
			
	   Term/Expiration Date:
	  	  
	  	

 Vesting Schedule: 

Subject to accelerated vesting as set forth below or in the Plan, this Option will be exercisable, in whole or in part, in accordance with the
following schedule: 
 [Twenty-five percent (25%) of the Shares subject to the Option shall vest on the one (1) year anniversary of the
Vesting Commencement Date, and one forty-eighth (1/48th) of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if
there is no corresponding day, on the last day of the month), subject to Participant continuing to be a Service Provider through each such date.]  

  
 - 20 - 

 Termination Period: 

This Option will be exercisable for [three (3) months] after Participant ceases to be a Service Provider, unless such termination is due
to Participant’s death or Disability, in which case this Option will be exercisable for [twelve (12) months] after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be
exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 14 of the Plan. 

By Participant’s signature and the signature of the representative of the Company below, Participant and the Company agree that this
Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement, including the Terms and Conditions of Stock Option Grant, attached hereto as Exhibit A, all of which are made a part of this document.
Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement, and fully
understands all provisions of the Plan and this Option Agreement. Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and the Option
Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below. 
  

							
	PARTICIPANT	  		  	OYSTER POINT PHARMA, INC.
				
	  
	  		  	  
	  	
	Signature	  		  	Signature	  	
	  
	  		  	  
	  	
	Print Name	  		  	Print Name	  	
		  		  	  
	  	
		  		  	Title	  	
	Address:	  		  		  	
	  
	  		  		  	
	  
	  		  		  	

  
 - 21 - 

 EXHIBIT A 

TERMS AND CONDITIONS OF STOCK OPTION GRANT 

1. Grant of Option. 
 (a)
The Company hereby grants to the individual (“Participant”) named in the Notice of Stock Option Grant of this Option Agreement (the “Notice of Grant”) an option (the “Option”) to purchase the number of Shares set forth
in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”), subject to all of the terms and conditions in this Option Agreement and the Plan, which is incorporated herein by this
reference. Subject to Section 19(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan will prevail. 

(b) For U.S. taxpayers, the Option will be designated as either an Incentive Stock Option (“ISO”) or a Nonstatutory Stock Option
(“NSO”). If designated in the Notice of Grant as an ISO, this Option is intended to qualify as an ISO under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). However, if this Option is intended to be
an ISO, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it will be treated as an NSO. Further, if for any reason this Option (or portion thereof) will not qualify as an ISO, then, to the extent of such nonqualification,
such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event will the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or
any other person) due to the failure of the Option to qualify for any reason as an ISO. 
 (c) For
non-U.S. taxpayers, the Option will be designated as an NSO. 
 2. Vesting Schedule. Except as
provided in Section 3, the Option awarded by this Option Agreement will vest in accordance with the vesting provisions set forth in the Notice of Grant. Shares subject to this Option that are scheduled to vest on a certain date or upon the
occurrence of a certain condition will not vest in accordance with any of the provisions of this Option Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting occurs. 

3. Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of
the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator. 

4. Exercise of Option. 

(a) Right to Exercise. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during
such term only in accordance with the Plan and the terms of this Option Agreement. 

 (b) Method of Exercise. This Option is exercisable by delivery of an exercise notice
(the “Exercise Notice”) in the form attached as Exhibit B to the Notice of Grant or in a manner and pursuant to such procedures as the Administrator may determine, which will state the election to exercise the Option, the number of
Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice will be
completed by Participant and delivered to the Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares and of any Tax Obligations (as defined in Section 6(a)). This Option will be
deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price. 
 5.
Method of Payment. Payment of the aggregate Exercise Price will be by any of the following, or a combination thereof, at the election of Participant: 

(a) cash in U.S. dollars; 
 (b)
check designated in U.S. dollars; 
 (c) consideration received by the Company under a formal cashless exercise program adopted by the
Company in connection with the Plan; or 
 (d) if Participant is a U.S. employee, surrender of other Shares which have a Fair Market Value on
the date of surrender equal to the aggregate Exercise Price of the Exercised Shares and that are owned free and clear of any liens, claims, encumbrances, or security interests, provided that accepting such Shares, in the sole discretion of the
Administrator, will not result in any adverse accounting consequences to the Company. 
 6. Tax Obligations. 

(a) Responsibility for Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if different,
Participant’s employer (the “Employer”) or Parent or Subsidiary to which Participant is providing services (together, the Company, Employer and/or Parent or Subsidiary to which the Participant is providing services, the “Service
Recipient”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option, including, without limitation, (i) all federal, state, and local taxes (including the
Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by the Company or the Service Recipient or other payment of tax-related items related to
Participant’s participation in the Plan and legally applicable to Participant, (ii) the Participant’s and, to the extent required by the Company (or Service Recipient), the Company’s (or Service Recipient’s) fringe benefit
tax liability, if any, associated with the grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Company (or Service Recipient) taxes the responsibility for which the Participant has, or has agreed to bear, with
respect to the Option (or exercise thereof or issuance of Shares thereunder) (collectively, the “Tax Obligations”), is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or the Service
Recipient. Participant further acknowledges that the Company and/or the Service Recipient (A) make no representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the

  
 - 2 - 

 
Option, including, but not limited to, the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any dividends or other
distributions, and (B) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Option to reduce or eliminate Participant’s liability for Tax Obligations or achieve any particular tax result.
Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Service
Recipient (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction. If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder
at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares. 

(b) Tax Withholding. When the Option is exercised, Participant generally will recognize immediate U.S. taxable income if Participant is
a U.S. taxpayer. If Participant is a non-U.S. taxpayer, Participant will be subject to applicable taxes in his or her jurisdiction. Pursuant to such procedures as the Administrator may specify from time to
time, the Company and/or Service Recipient shall withhold the amount required to be withheld for the payment of Tax Obligations. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may
permit Participant to satisfy such Tax Obligations, in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a fair
market value equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in
adverse financial accounting consequences), (iii) withholding the amount of such Tax Obligations from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Service Recipient, (iv) delivering to the
Company already vested and owned Shares having a fair market value equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations (or such greater amount as Participant may elect if permitted by the
Administrator, if such greater amount would not result in adverse financial accounting consequences) such Tax Obligations, or (v) selling a sufficient number of such Shares otherwise deliverable to Participant through such means as the Company
may determine in its sole discretion (whether through a broker or otherwise) equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations (or such greater amount as Participant may elect if permitted by
the Administrator, if such greater amount would not result in adverse financial accounting consequences). To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any Tax
Obligations by reducing the number of Shares otherwise deliverable to Participant. Further, if Participant is subject to tax in more than one jurisdiction between the Date of Grant and a date of any relevant taxable or tax withholding event, as
applicable, Participant acknowledges and agrees that the Company and/or the Service Recipient (and/or former employer, as applicable) may be required to withhold or account for tax in more than one jurisdiction. If Participant fails to make
satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver the Shares if such
amounts are not delivered at the time of exercise. 

  
 - 3 - 

 (c) Notice of Disqualifying Disposition of ISO Shares. If the Option granted to
Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, or (ii) the date one
(1) year after the date of exercise, Participant will immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income
recognized by Participant. 
 (d) Code Section 409A. Under Code Section 409A, a stock right (such as the
Option) that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per share exercise price that is determined by the Internal Revenue
Service (the “IRS”) to be less than the fair market value of an underlying share on the date of grant (a “discount option”) may be considered “deferred compensation.” A stock right that is a “discount option”
may result in (i) income recognition by the recipient of the stock right prior to the exercise of the stock right, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The
“discount option” may also result in additional state income, penalty and interest tax to the recipient of the stock right. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share
exercise price of this Option equals or exceeds the fair market value of a Share on the date of grant in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less
than the fair market value of a Share on the date of grant, Participant shall be solely responsible for Participant’s costs related to such a determination. 

7. Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or
privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation, and delivery, Participant will have all the rights of a stockholder of the Company with
respect to voting such Shares and receipt of dividends and distributions on such Shares. 
 8. No Guarantee of Continued Service.
PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW IS AT THE WILL OF THE COMPANY (OR THE
SERVICE RECIPIENT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING
SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT
OF THE COMPANY (OR THE SERVICE RECIPIENT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

  
 - 4 - 

 9. Nature of Grant. In accepting the Option, Participant acknowledges, understands
and agrees that: 
 (a) the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive
future grants of options, or benefits in lieu of options, even if options have been granted in the past; 
 (b) all decisions with respect to
future option or other grants, if any, will be at the sole discretion of the Company; 
 (c) Participant is voluntarily participating in the
Plan; 
 (d) the Option and any Shares acquired under the Plan are not intended to replace any pension rights or compensation; 

(e) the Option and Shares acquired under the Plan and the income and value of same, are not part of normal or expected compensation for
purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or
welfare benefits or similar payments; 
 (f) the future value of the Shares underlying the Option is unknown, indeterminable, and cannot be
predicted with certainty; 
 (g) if the underlying Shares do not increase in value, the Option will have no value; 

(h) if Participant exercises the Option and acquires Shares, the value of such Shares may increase or decrease in value, even below the
Exercise Price; 
 (i) for purposes of the Option, Participant’s engagement as a Service Provider will be considered terminated as of
the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction
where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and unless otherwise expressly provided in this Option Agreement (including by reference in the Notice of Grant to other
arrangements or contracts) or determined by the Administrator, (i) Participant’s right to vest in the Option under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g.,
Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or
Participant’s employment or service agreement, if any, unless Participant is providing bona fide services during such time); and (ii) the period (if any) during which Participant may exercise the Option after such termination of
Participant’s engagement as a Service Provider will commence on the date Participant ceases to actively provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant is
employed or terms of Participant’s engagement agreement, if any; the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of his or her Option grant (including
whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law); 

  
 - 5 - 

 (j) unless otherwise provided in the Plan or by the Copmpany in its discretion, the Option
and the benefits evidenced by this Option Agreement do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any
corporate transaction affecting the Shares; and 
 (k) the following provisions apply only if Participant is providing services outside the
United States: 
 (i) the Option and the Shares subject to the Option are not part of normal or expected compensation or salary for any
purpose; 
 (ii) Participant acknowledges and agrees that no Service Recipient shall be liable for any foreign exchange rate fluctuation
between Participant’s local currency and the United States Dollar that may affect the value of the Option or of any amounts due to Participant pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise;
and 
 (iii) no claim or entitlement to compensation or damages shall arise from forfeiture of the Option resulting from the termination of
Participant’s engagement as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the terms of Participant’s
employment or service agreement, if any), and in consideration of the grant of the Option to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim against any Service Recipient, waives his or her
ability, if any, to bring any such claim, and releases each Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant
shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim. 

10. No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors
regarding his or her participation in the Plan before taking any action related to the Plan. 
 11. Data
Privacy. Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in this Option Agreement and any other Option grant
materials by and among, as applicable, the Employer or other Service Recipient, the Company and any Parent or Subsidiary for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. 

 Participant understands that the Company and the Employer may hold certain personal information about Participant, including,
but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all
Options or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. 

  
 - 6 - 

 Participant understands that Data will be transferred to a stock plan service provider
as may be selected by the Company in the future, which is assisting the Company with the implementation, administration, and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or
elsewhere, and that the recipient’s country of operation (e.g., the United States) may have different data privacy laws and protections than Participant’s country. Participant understands that if he or she resides outside the United
States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. Participant authorizes the Company and any other possible recipients which may
assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and
managing Participant’s participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands that if he
or she resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing his or her local human resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if Participant
later seeks to revoke his or her consent, his or her engagement as a Service Provider and career with the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company
would not be able to grant Participant Options or other equity awards or administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in
the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative. 

12. Address for Notices. Any notice to be given to the Company under the terms of this Option Agreement will be addressed to the Company
at Oyster Point Pharma, Inc., 700 Alexander Park Drive, Suite 301, Princeton, NJ 08540, or at such other address as the Company may hereafter designate in writing. 

13. Non-Transferability of Option. This Option may not be transferred in any manner otherwise
than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. 
 14.
Successors and Assigns. The Company may assign any of its rights under this Option Agreement to single or multiple assignees, and this Option Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Option Agreement shall be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. The rights and obligations of Participant under this Option Agreement may
only be assigned with the prior written consent of the Company. 

  
 - 7 - 

 15. Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax code and related
regulations or under the rulings or regulations of the United States Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the United States Securities and Exchange Commission or any
other governmental regulatory authority is necessary or desirable as a condition to the purchase by, or issuance of Shares, to Participant (or his or her estate) hereunder, such purchase or issuance will not occur unless and until such listing,
registration, qualification, rule compliance, clearance, consent or approval will have been completed, effected or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Option Agreement and the Plan, the Company
shall not be required to issue any certificate or certificates for Shares hereunder prior to the lapse of such reasonable period of time following the date of exercise of the Option as the Administrator may establish from time to time for reasons of
administrative convenience. 
 16. Language. If Participant has received this Option Agreement or any other document related to the
Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

17. Interpretation. The Administrator will have the power to interpret the Plan and this Option Agreement and to adopt such rules for
the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested).
All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. Neither the Administrator nor any person acting on behalf
of the Administrator will be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan or this Option Agreement. 

18. Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related to the Option
awarded under the Plan or future options that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic
delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or a third party designated by the Company. 

19. Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of
this Option Agreement. 
 20. Agreement Severable. In the event that any provision in this Option Agreement will be held invalid or
unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Option Agreement. 

21. Amendment, Suspension or Termination of the Plan. By accepting this Option, Participant expressly warrants that he or she has
received an Option under the Plan, and has received, read, and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time. 

  
 - 8 - 

 22. Governing Law and Venue. This Option Agreement will be governed by the laws of
New Jersey, without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Option Agreement, the parties hereby submit to and consent to the jurisdiction of the State of
New Jersey, and agree that such litigation will be conducted in the courts of Mercer County, New Jersey, or the United States federal courts for the District of New Jersey, and no other courts, where this Option is made and/or to be performed. 

23. Country Addendum. Notwithstanding any provisions in this Option Agreement, this Option shall be subject to any special terms and
conditions set forth in an appendix (if any) to this Option Agreement for any country whose laws are applicable to Participant and this Option (as determined by the Administrator in its sole discretion) (the “Country Addendum”). Moreover,
if Participant relocates to one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to Participant, to the extent the Company determines that the application of such terms and
conditions is necessary or advisable for legal or administrative reasons. The Country Addendum (if any) constitutes a part of this Option Agreement. 

24. Modifications to the Agreement. This Option Agreement constitutes the entire understanding of the parties on the subjects covered.
Participant expressly warrants that he or she is not accepting this Option Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Option Agreement or the Plan can be made only
in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Option Agreement, the Company reserves the right to revise this Option Agreement as it deems necessary
or advisable, in its sole discretion and without the consent of Participant, to comply with Code Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code in connection with
the Option. 
 25. No Waiver. Either party’s failure to enforce any provision or provisions of this Option Agreement shall not in
any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Option Agreement. The rights granted both parties herein are cumulative and shall not
constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances. 
 26. Tax
Consequences. Participant has reviewed with his or her own tax advisors the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Option
Agreement. With respect to such matters, Participant relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company)
shall be responsible for Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Option Agreement. 

  
 - 9 - 

 OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

COUNTRY ADDENDUM 
 TERMS AND
CONDITIONS 
 This Country Addendum includes additional terms and conditions that govern the Option granted to Participant under the Plan if
Participant works in one of the countries listed below. If Participant is a citizen or resident of a country (or is considered as such for local law purposes) other than the one in which he or she is currently working or if Participant relocates to
another country after receiving the Option, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to Participant. 

Certain capitalized terms used but not defined in this Country Addendum shall have the meanings set forth in the Plan, and/or the Stock Option Agreement to
which this Country Addendum is attached. 
 NOTIFICATIONS 

This Country Addendum also includes notifications relating to exchange control and other issues of which Participant should be aware with respect to his or her
participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the countries listed in this Country Addendum, as of
            . Such laws are often complex and change frequently. As a result, the Company strongly recommends that Participant not rely on the notifications herein as the only
source of information relating to the consequences of his or her participation in the Plan because the information may be outdated when Participant exercises the Option or sells Shares acquired under the Plan. 

In addition, the notifications are general in nature and may not apply to Participant’s particular situation, and the Company is not in a position to
assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as to how the relevant laws in Participant’s country may apply to Participant’s situation. 

Finally, if Participant is a citizen or resident of a country other than the one in which Participant is currently working (or is considered as such for local
law purposes) or if Participant moves to another country after the Option is granted, the information contained herein may not be applicable to Participant. 

 EXHIBIT B 

OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 
 Oyster Point Pharma,
Inc. 
 700 Alexander Park Drive, Suite 301 
 Princeton, NJ
08540 
 Attention: Stock Administration 
 1.
Exercise of Option. Effective as of today, ________________, _____, the undersigned (“Purchaser”) hereby elects to purchase ______________ shares (the “Shares”) of the Common Stock of Oyster Point Pharma, Inc. (the
“Company”) under and pursuant to the 2019 Equity Incentive Plan (the “Plan”) and the Stock Option Agreement, dated ________ and including the Notice of Grant, the Terms and Conditions of Stock Option Grant, and exhibits attached
thereto (the “Option Agreement”). The purchase price for the Shares will be $_____________, as required by the Option Agreement. 

2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price of the Shares and any Tax Obligations (as
defined in Section 6(a) of the Option Agreement) to be paid in connection with the exercise of the Option. 
 3. Representations of
Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 

4. Rights as Stockholder. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired
will be issued to Purchaser as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is prior to the date of issuance, except as provided in Section 14 of the Plan.

 5. Tax Consultation. Purchaser understands that Purchaser may suffer adverse tax consequences as a result of Purchaser’s
purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on the Company
for any tax advice. 
 6. Entire Agreement; Governing Law. The Plan and Option Agreement are incorporated herein by reference. This
Exercise Notice, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Purchaser with
respect to the subject matter hereof, and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This Option Agreement is governed by the internal substantive laws, but not
the choice of law rules, of New Jersey. 

					
	Submitted by:	 		  	Accepted by:
			
	PURCHASER	 		  	OYSTER POINT PHARMA, INC.
	  
	 		  	  

	Signature	 		  	Signature
	  
	 		  	  

	Print Name	 		  	Print Name
		 		  	  

	Address:	 		  	Title
	  
	 		  	
	  
	 		  	
		 		  	  

		 		  	Date Received

  
 - 2 - 

 OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

NOTICE OF RESTRICTED STOCK UNIT GRANT 

Unless otherwise defined herein, the terms defined in the Oyster Point Pharma, Inc. 2019 Equity Incentive Plan (the “Plan”)
will have the same defined meanings in this Restricted Stock Unit Agreement, which includes the Notice of Restricted Stock Unit Grant (the “Notice of Grant”), the Terms and Conditions of Restricted Stock Unit Grant attached hereto as
Exhibit A, and all other exhibits and appendices attached hereto (all together, the “Award Agreement”). 
 Participant:

 Address: 
 The
undersigned Participant has been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of the Plan and this Award Agreement, as follows: 

 

					
	   Grant Number:
	 	  
	 	
			
	   Date of Grant:
	 	  
	 	
			
	   Vesting Commencement Date:
	 	  
	 	
			
	   Number of Restricted Stock Units:
	 	  
	 	

 Vesting Schedule: 

Subject to any acceleration provisions contained in the Plan or set forth below, the Restricted Stock Units will vest in accordance with the
following schedule: 
 [Twenty-five percent (25%) of the Restricted Stock Units will vest on the one (1) year anniversary of the
Vesting Commencement Date, and one sixteenth (1/16th) of the Restricted Stock Units will vest quarterly thereafter on the same day as the Vesting Commencement Date, subject to Participant
continuing to be a Service Provider through each such date.] 
 In the event Participant ceases to be a Service Provider for any or
no reason before Participant vests in the Restricted Stock Units, the Restricted Stock Units and Participant’s right to acquire any Shares hereunder will immediately terminate. 

By Participant’s signature and the signature of the representative of Oyster Point Pharma, Inc. (the “Company”) below,
Participant and the Company agree that this Award of Restricted Stock Units is granted under and governed by the terms and conditions of the Plan and this Award Agreement, including the Terms and Conditions of Restricted Stock Unit Grant, attached
hereto as Exhibit A, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Award Agreement, and fully 

  
 - 3 - 

 
understands all provisions of the Plan and this Award Agreement. Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon
any questions relating to the Plan and the Award Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below. 

By accepting this Award Agreement, Participant expressly consents to the sale of Shares to cover the Tax Withholding Obligations (as
defined in the Terms and Conditions of Restricted Stock Unit Grant) arising from the Restricted Stock Units and any associated broker or other fees and agrees and acknowledges that Participant may not satisfy them by any means other than such sale
of Shares, unless required to do so by the Administrator or pursuant to the Administrator’s express written consent.
  

					
	PARTICIPANT:	  		  	OYSTER POINT PHARMA, INC.
	  
	  		  	  

	Signature	  		  	Signature
	  
	  		  	  

	Print Name	  		  	Print Name
		  		  	  

		  		  	Title
	Address:	  		  	

  
 - 4 - 

 EXHIBIT A 

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT 

(a) Grant of Restricted Stock Units. The Company hereby grants to the individual (the “Participant”) named in the Notice of
Grant of Restricted Stock Units of this Award Agreement (the “Notice of Grant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated
herein by reference. Subject to Section 19(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the terms and conditions of the Plan shall prevail. 

(b) Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to receive a Share on the date it vests. Unless
and until the Restricted Stock Units will have vested in the manner set forth in Section 3 or 4, Participant will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such
Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 

(c) Vesting Schedule. Except as provided in Section 4, and subject to Section 5, the Restricted Stock Units awarded by this
Award Agreement will vest in accordance with the vesting schedule set forth in the Notice of Grant, subject to Participant continuing to be a Service Provider through each applicable vesting date. 

(d) Payment after Vesting. 

(i) General Rule. Subject to Section 8, any Restricted Stock Units that vest will be paid to Participant (or in the event of
Participant’s death, to his or her properly designated beneficiary or estate) in whole Shares. Subject to the provisions of Section 4(b), such vested Restricted Stock Units shall be paid in whole Shares as soon as practicable after
vesting, but in each such case within sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of payment of any Restricted Stock Units payable under this Award
Agreement. 
 (ii) Acceleration. 

(1) Discretionary Acceleration. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion
of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the Administrator. If Participant is
a U.S. taxpayer, the payment of Shares vesting pursuant to this Section 4(b) shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. The prior sentence may be superseded in a future
agreement or amendment to this Award Agreement only by direct and specific reference to such sentence. 

 (2) Notwithstanding anything in the Plan or this Award Agreement or any other agreement
(whether entered into before, on or after the Date of Grant), if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in connection with Participant’s termination as a Service Provider
(provided that such termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to Participant’s death, and if (x) Participant is a U.S. taxpayer and a
“specified employee” within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under
Section 409A if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six
(6) months and one (1) day following the date of Participant’s termination as a Service Provider, unless Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units will be paid
in Shares to Participant’s estate as soon as practicable following his or her death. 
 (iii) Section 409A.
It is the intent of this Award Agreement that it and all payments and benefits to U.S. taxpayers hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Award
Agreement or Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended
to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). However, in no event will the Company reimburse Participant, or be otherwise responsible for, any taxes or
costs that may be imposed on Participant as a result of Section 409A. For purposes of this Award Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service
guidance thereunder, as each may be amended from time to time. 
 (e) Forfeiture Upon Termination as a Service Provider.
Notwithstanding any contrary provision of this Award Agreement, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to
the Company and Participant will have no further rights thereunder. 
 (f) Tax Consequences. Participant has reviewed with his or her
own tax advisors the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Award Agreement. With respect to such matters, Participant relies
solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) shall be responsible for Participant’s own tax liability
that may arise as a result of this investment or the transactions contemplated by this Award Agreement. 
 (g) Death of Participant.
Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor
of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance
with any laws or regulations pertaining to said transfer. 

  
 -2- 

 (h) Tax Obligations 

(i) Responsibility for Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if different,
Participant’s employer (the “Employer”) or Parent or Subsidiary to which Participant is providing services (together, the Company, Employer and/or Parent or Subsidiary to which the Participant is providing services, the “Service
Recipient”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation, (i) all federal, state, and local taxes (including
the Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by the Company or the Employer or other payment of tax-related items related to Participant’s
participation in the Plan and legally applicable to Participant, (ii) the Participant’s and, to the extent required by the Company (or Service Recipient), the Company’s (or Service Recipient’s) fringe benefit tax liability, if
any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Company (or Service Recipient) taxes the responsibility for which the Participant has, or has agreed to bear, with
respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the “Tax Obligations”), is and remains Participant’s responsibility and may exceed the amount actually withheld by the
Company or the Service Recipient. Participant further acknowledges that the Company and/or the Service Recipient (A) make no representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect of the
Restricted Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends or other distributions, and
(B) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant’s liability for Tax Obligations or achieve any particular tax result.
Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Service
Recipient (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction. If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder
at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares. 

(ii) Tax Withholding and Default Sell-to-Cover Method of
Tax Withholding. When Shares are issued as payment for vested Restricted Stock Units, Participant generally will recognize immediate U.S. taxable income if Participant is a U.S. taxpayer. If Participant is a
non-U.S. taxpayer, Participant will be subject to applicable taxes in his or her jurisdiction. Subject to Section 8(c), the minimum amount of Tax Obligations which the Company determines must be withheld
with respect to this Award (“Tax Withholding Obligation”) will be satisfied by Shares being sold on Participant’s behalf at the prevailing market price pursuant to such procedures as the Company may specify from time to time,
including through a broker-assisted arrangement (it being understood that the Shares to be sold must have vested pursuant to the terms of this Award Agreement and the Plan) (the
“Sell-to-Cover Method”). The proceeds from the Sell-to-Cover Method will be
used to satisfy Participant’s Tax Withholding Obligation arising with respect to this Award. In addition to Shares sold to satisfy the Tax Withholding Obligation, additional Shares will be sold to satisfy any associated broker or other fees.
Only whole Shares will be sold 

  
 -3- 

 
through the Sell-to-Cover Method to satisfy any Tax Withholding Obligation and any associated broker or other fees.
Any proceeds from the sale of Shares in excess of the Tax Withholding Obligation and any associated broker or other fees generated through the Sell-to-Cover Method will
be paid to Participant in accordance with procedures the Company may specify from time to time. By accepting this Award, Participant expressly consents to the sale of Shares to cover the Tax Withholding Obligation (and any associated broker or
other fees) through the Sell-to-Cover Method and agrees and acknowledges that Participant may not satisfy them by any means other than such sale of Shares, unless
required to do so by the Administrator or pursuant to the Administrator’s express written consent. 
 (iii) Administrator
Discretion. Notwithstanding the foregoing Sections 8(a) and 8(b), if the Administrator determines it is in the best interests of the Company for Participant to satisfy Participant’s Tax Withholding Obligation by a method other than through
the default Sell-to-Cover Method described in Section 8(b), it may permit or require Participant to satisfy Participant’s Tax Withholding Obligation, in whole
or in part (without limitation), if permissible by Applicable Laws, by (i) paying cash, (ii) withholding the amount of such Tax Withholding Obligation from Participant’s wages or other cash compensation paid to Participant by the
Company and/or the Service Recipient, (iii) delivering to the Company Shares that Participant owns and that have vested with a fair market value equal to the amount required to be withheld (or such greater amount up to the maximum statutory
rate applicable to the Participant if permitted by the Administrator and provided such greater amount would not result in adverse financial accounting consequences to the Company as determined by the Administrator), (iv) by having the Company
withhold otherwise deliverable Shares having a fair market value equal to the amount required to be withheld (or such greater amount up to the maximum statutory rate applicable to the Participant if permitted by the Administrator and provided such
greater amount would not result in adverse financial accounting consequences to the Company as determined by the Administrator) or (v) such other means as the Administrator deems appropriate. 

(iv) Company’s Obligation to Deliver Shares. For clarification purposes, in no event will the Company issue Participant any Shares
unless and until arrangements satisfactory to the Administrator have been made for the payment of Participant’s Tax Withholding Obligation. If Participant fails to make satisfactory arrangements for the payment of such Tax Withholding
Obligations hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4 or Participant’s Tax Withholding Obligations otherwise become due, Participant will permanently forfeit such
Restricted Stock Units to which Participant’s Tax Withholding Obligation relates and any right to receive Shares thereunder and such Restricted Stock Units will be returned to the Company at no cost to the Company. Participant acknowledges and
agrees that the Company may refuse to issue or deliver the Shares if such Tax Obligations are not delivered at the time they are due. 
 (i)
Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until
certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a
brokerage account). After such issuance, recordation, and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 

  
 -4- 

 (j) No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE
VESTING OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER, WHICH UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW IS AT THE WILL OF THE COMPANY (OR THE SERVICE RECIPIENT) AND NOT
THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS RESTRICTED STOCK UNIT AWARD OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET
FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE
COMPANY (OR THE SERVICE RECIPIENT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE. 

(k) Grant is Not Transferable. Except to the limited extent provided in Section 7, this grant and the rights and privileges
conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or similar process. Upon any attempt to transfer, assign,
pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately
will become null and void. 
 (l) Nature of Grant. In accepting the grant, Participant acknowledges, understands, and agrees that:

 (i) the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive
future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past; 

(ii) all decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion of the Company; 

(iii) Participant is voluntarily participating in the Plan; 

(iv) the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any pension rights or
compensation; 
 (v) the Restricted Stock Units and the Shares subject to the Restricted Stock Units, and the income and value of same, are
not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses,
long-service awards, pension or retirement or welfare benefits or similar payments; 

  
 -5- 

 (vi) the future value of the underlying Shares is unknown, indeterminable and cannot be
predicted; 
 (vii) for purposes of the Restricted Stock Units, Participant’s status as a Service Provider will be considered
terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in
the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and unless otherwise expressly provided in this Award Agreement (including by reference in the Notice of Grant to
other arrangements or contracts) or determined by the Administrator, Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g.,
Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms
of Participant’s employment or service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing
services for purposes of the Restricted Stock Units grant (including whether Participant may still be considered to be providing services while on a leave of absence and consistent with local law); 

(viii) unless otherwise provided in the Plan or by the Company in its discretion, the Restricted Stock Units and the benefits evidenced by
this Award Agreement do not create any entitlement to have the Restricted Stock Units or any such benefits transferred to, or assumed by, another company nor be exchanged, cashed out or substituted for, in connection with any corporate transaction
affecting the Shares; and 
 (ix) the following provisions apply only if Participant is providing services outside the United States: 

(1) the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary
for any purpose; 
 (2) Participant acknowledges and agrees that none of the Company, the Employer or any Parent or Subsidiary shall be
liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the settlement of the
Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement; and 
 (3) no claim or entitlement to compensation or
damages shall arise from forfeiture of the Restricted Stock Units resulting from the termination of Participant’s status as a Service Provider (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws
in the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and in consideration of the grant of the Restricted Stock Units to which Participant is otherwise not
entitled, Participant irrevocably agrees 

  
 -6- 

 
never to institute any claim against the Company, any Parent or Subsidiary or the Service Recipient, waives his or her ability, if any, to bring any such claim, and releases the Company, any
Parent or Subsidiary and the Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to
have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim. 

(m) No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or her own personal tax, legal and financial advisors
regarding his or her participation in the Plan before taking any action related to the Plan. 
 (n) Data Privacy. Participant
hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in this Award Agreement and any other Restricted Stock Unit grant materials by and among,
as applicable, the Employer or other Service Recipient, the Company and any Parent or Subsidiary for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. 

Participant understands that the Company and the Service Recipient may hold certain personal information about Participant, including,
but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all
Restricted Stock Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.

 Participant understands that Data will be transferred to a stock plan service provider as may be selected by the Company in
the future, which is assisting the Company with the implementation, administration, and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’
country of operation (e.g., the United States) may have different data privacy laws and protections than Participant’s country. Participant understands that if he or she resides outside the United States, he or she may request a list with the
names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. Participant authorizes the Company, any stock plan service provider selected by the Company and any other possible recipients
which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering
and managing his or her participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands if he or she
resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing his or her local human resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary 

  
 -7- 

 
basis. If Participant does not consent, or if Participant later seeks to revoke his or her consent, his or her status as a Service Provider and career with the Service Recipient will not be
adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant Participant Restricted Stock Units or other equity awards or administer or maintain such awards.
Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of
consent, Participant understands that he or she may contact his or her local human resources representative. 
 (o) Address for
Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company at Oyster Point Pharma, Inc., 700 Alexander Park Drive, Suite 301, Princeton, NJ 08540, or at such other address as the
Company may hereafter designate in writing. 
 (p) Electronic Delivery and Acceptance. The Company may, in its sole discretion, decide
to deliver any documents related to the Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by
electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the
Company or a third party designated by the Company. 
 (q) No Waiver. Either party’s failure to enforce any provision or
provisions of this Award Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Award Agreement. The rights granted both
parties herein are cumulative and shall not constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances. 

(r) Successors and Assigns. The Company may assign any of its rights under this Award Agreement to single or multiple assignees, and
this Award Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Award Agreement shall be binding upon Participant and his or her heirs, executors,
administrators, successors and assigns. The rights and obligations of Participant under this Award Agreement may only be assigned with the prior written consent of the Company. 

(s) Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing,
registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax code and related regulations or under the rulings or regulations
of the United States Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the United States Securities and Exchange Commission or any other governmental regulatory authority is
necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval
will have been completed, effected or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Award Agreement and the Plan, the Company shall not be required to issue any certificate or certificates for Shares
hereunder prior to the lapse of such reasonable period of time following the date of vesting of the Restricted Stock Units as the Administrator may establish from time to time for reasons of administrative convenience. 

  
 -8- 

 (t) Language. If Participant has received this Award Agreement or any other document
related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

(u) Interpretation. The Administrator will have the power to interpret the Plan and this Award Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units have vested). All actions
taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. Neither the Administrator nor any person acting on behalf of the
Administrator will be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan or this Award Agreement. 

(v) Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of
this Award Agreement. 
 (w) Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly warrants
that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read, and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or
terminated by the Company at any time. 
 (x) Modifications to the Award Agreement. This Award Agreement constitutes the entire
understanding of the parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications
to this Award Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to
revise this Award Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under
Section 409A in connection with this Award of Restricted Stock Units. 
 (y) Governing Law; Venue; Severability. This Award
Agreement and the Restricted Stock Units are governed by the internal substantive laws, but not the choice of law rules, of New Jersey. For purposes of litigating any dispute that arises under these Restricted Stock Units or this Award Agreement,
the parties hereby submit to and consent to the jurisdiction of the State of New Jersey, and agree that such litigation will be conducted in the courts of Mercer County, New Jersey, or the United States federal courts for the District of New Jersey,
and no other courts, where this Award Agreement is made and/or to be performed. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Award Agreement shall
continue in full force and effect. 

  
 -9- 

 (z) Entire Agreement. The Plan is incorporated herein by reference. The Plan and this
Award Agreement (including the appendices and exhibits referenced herein) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company
and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. 

(aa) Country Addendum. Notwithstanding any provisions in this Award Agreement, the Restricted Stock Unit grant shall be subject to any
special terms and conditions set forth in an appendix (if any) to this Award Agreement for any country whose laws are applicable to Participant and this Award of Restricted Stock Units (as determined by the Administrator in its sole discretion) (the
“Country Addendum”). Moreover, if Participant relocates to one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to Participant, to the extent the Company determines
that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country Addendum constitutes part of this Award Agreement. 

  
 -10- 

 OYSTER POINT PHARMA, INC. 

2019 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

COUNTRY ADDENDUM 
 TERMS AND
CONDITIONS 
 This Country Addendum includes additional terms and conditions that govern the Award of Restricted Stock Units granted to Participant
under the Plan if Participant works in one of the countries listed below. If Participant is a citizen or resident of a country (or is considered as such for local law purposes) other than the one in which he or she is currently working or if
Participant relocates to another country after receiving the Award of Restricted Stock Units, the Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to Participant. 

Certain capitalized terms used but not defined in this Country Addendum shall have the meanings set forth in the Plan, and/or the Restricted Stock Unit
Agreement to which this Country Addendum is attached. 
 NOTIFICATIONS 

This Country Addendum also includes notifications relating to exchange control and other issues of which Participant should be aware with respect to his or her
participation in the Plan. The information is based on the exchange control, securities and other laws in effect in the countries listed in this Country Addendum, as of [DATE]. Such laws are often complex and change frequently. As a result, the
Company strongly recommends that Participant not rely on the notifications herein as the only source of information relating to the consequences of his or her participation in the Plan because the information may be outdated when Participant vests
in the Restricted Stock Units and acquires Shares, or when Participant subsequently sell Shares acquired under the Plan. 
 In addition, the notifications
are general in nature and may not apply to Participant’s particular situation, and the Company is not in a position to assure Participant of any particular result. Accordingly, Participant is advised to seek appropriate professional advice as
to how the relevant laws in Participant’s country may apply to Participant’s situation. 
 Finally, if Participant is a citizen or resident of a
country other than the one in which Participant is currently working (or is considered as such for local law purposes) or if Participant moves to another country after receiving the Award of Restricted Stock Units, the information contained herein
may not be applicable to Participant.

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