Document:

Exhibit 10.4

 

Effective Date: June
12, 2018

Amendment and Restatement:
March 3, 2020

 

IMMUNOME,
INC.

 

AMENDED
AND RESTATED

2018
EQUITY INCENTIVE PLAN

 

The purpose of the
Immunome, Inc. Amended and Restated 2018 Equity Incentive Plan (this “Plan”) is to provide (i) designated employees
of Immunome, Inc. (the “Company”) and its parents and subsidiaries, (ii) certain consultants and advisors who perform
services for the Company or its parents or subsidiaries and (iii) non-employee members of the Board of Directors of the Company
(the “Board”) with the opportunity to receive grants of incentive stock options, nonqualified stock options and stock
awards. The Company believes that this Plan will encourage the participants to contribute materially to the growth of the Company,
thereby benefitting the Company’s stockholders, and will align the economic interests of the participants with those of the
stockholders.

 

This Plan is intended
as the successor to the Company’s Amended and Restated 2008 Equity Incentive Plan (the “Prior Plan”). Following
the effective date of this Plan set forth above (the “Effective Date”), no additional grants of options or stock awards
shall be granted under the Prior Plan. Any shares remaining available for issuance pursuant to the exercise of options or settlement
of stock awards under the Prior Plan shall become available for issuance under this Plan pursuant to Grants (as defined in Section
2) granted hereunder, as provided in Section 3(a). Any shares subject to outstanding stock options or stock awards granted under
the Prior Plan that expire or terminate or are repurchased by the Company for any reason prior to exercise, settlement or vesting
shall become available for issuance under this Plan pursuant to stock options and stock awards granted hereunder. All outstanding
stock options and stock awards granted under the Prior Plan shall remain subject to the terms of the Prior Plan with respect to
which they were originally granted.

 

1.                
Administration.

 

(a)              
Committee. This Plan shall be administered and interpreted by the Board or by a committee consisting of members
of the Board, which shall be appointed by the Board. After an initial public offering of the Company’s stock as described
in Section 17(b) (a “Public Offering”), this Plan shall be administered by a committee of Board members, which may
consist of “non-employee directors” as defined under Rule 16b-3 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). However, the Board may ratify or approve any grants as it deems appropriate, and the Board shall
approve and administer all grants made to non-employee directors. The committee may delegate authority to one or more subcommittees
as it deems appropriate. To the extent that a committee or subcommittee administers this Plan, references in this Plan to the “Board”
shall be deemed to refer to the committee or subcommittee; provided, however, that the Board of Directors itself may, at any time,
exercise any and all rights and authority granted by it to a committee or subcommittee.

 

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(b)              
 Board Authority. The Board shall have the sole authority to (i) determine the individuals to whom grants shall
be made under this Plan, (ii) determine the type, size and terms of the grants to be made to each such individual, (iii) determine
the time when the grants will be made and the duration of any applicable exercise or restriction period, including the criteria
for exercisability and the acceleration of exercisability, (iv) amend the terms of any previously issued grant, and (v) deal with
any other matters arising under this Plan.

 

(c)              
Board Determinations. The Board shall have full power and authority to administer and interpret this Plan, to
make factual determinations and to adopt or amend such rules, regulations, agreements and instruments for implementing this Plan
and for the conduct of its business as it deems necessary or advisable, in its sole discretion. The Board’s interpretations
of this Plan and all determinations made by the Board pursuant to the powers vested in it hereunder shall be conclusive and binding
on all persons having any interest in this Plan or in any awards granted hereunder. All powers of the Board shall be executed in
its sole discretion, in the best interest of the Company, not as a fiduciary, and in keeping with the objectives of this Plan and
need not be uniform as to similarly situated individuals.

 

(d)              
Delegation to Officers. To the extent permitted by applicable law, the Board may delegate to one or more officers
of the Company the power to grant Options and Stock Awards (as each such term is defined in Section 2) to employees or officers
of the Company or any of its present or future subsidiary corporations and to exercise such other powers under this Plan as the
Board may determine, provided that the Board shall fix the terms of the Options and Stock Awards to be granted by such officers
(including the exercise price of such Options, and the consideration, if any, for the Stock Awards, which may include a formula
by which the exercise price or purchase price, if any, will be determined) and the maximum number of shares subject to Options
and Stock Awards that the officers may grant; provided further, however, that no officer shall be authorized to grant any Options
or Stock Awards to himself or herself.

 

2.               
Grants. Awards under this Plan may consist of grants of incentive stock options as described in Section 5 (“Incentive
Stock Options”), nonqualified stock options as described in Section 5 (“Nonqualified Stock Options”) (Incentive
Stock Options and Nonqualified Stock Options are collectively referred to as “Options”) and stock awards as described
in Section 6 (“Stock Awards”) (hereinafter collectively referred to as “Grants”). All Grants shall be subject
to the terms and conditions set forth herein and to such other terms and conditions consistent with this Plan as the Board deems
appropriate and as are specified in writing by the Board to the individual in a grant instrument or an amendment to the grant instrument
(the “Grant Instrument”). All Grants shall be made conditional upon the Grantee’s acknowledgement, in writing
or by acceptance of the Grant, that all decisions and determinations of the Board shall be final and binding on the Grantee, his
or her beneficiaries and any other person having or claiming an interest under such Grant. The Board shall approve the form and
provisions of each Grant Instrument. Grants under a particular Section of this Plan need not be uniform as among the grantees.

 

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3.                
Shares Subject to This Plan.

 

(a)               Shares
Reserved. Subject to adjustment as described below, the aggregate number of shares of common stock of the Company
(“Company Stock”) that may be issued under this Plan is 6,572,127 shares, each of which may be granted as an
Incentive Stock Option, up to the maximum limit set forth in Section 3(d) below. After a Public Offering, the maximum
aggregate number of shares of Company Stock that shall be subject to Grants made under this Plan to (i) any employee during
any calendar year shall be 3,500,000 shares and (ii) any non-employee member of the Board during any calendar year shall be
500,000 shares, subject to adjustment as described below. Shares issued under this Plan may be authorized but unissued shares
of Company Stock or reacquired shares of Company Stock, including shares purchased by the Company on the open market for
purposes of this Plan.

 

(b)              
Additions to the Share Reserve. The Share Reserve also shall be increased from time to time by a number of shares
equal to the number of shares of Company Stock that (i) are issuable pursuant to options outstanding under the Prior Plan as of
the Effective Date and (ii) but for the termination of the Prior Plan as of the Effective Date, would otherwise have reverted to
the share reserve of the Prior Plan pursuant to the provisions thereof.

 

(c)              
Reversion of Shares to the Share Reserve. If and to the extent Options granted under this Plan terminate, expire,
or are canceled, forfeited, exchanged or surrendered without having been exercised or if any Stock Awards (including restricted
Stock Awards received upon the exercise of Options) are forfeited, the shares subject to such Grants shall again be available for
purposes of this Plan.

 

(d)              
Incentive Stock Option Limit. Notwithstanding anything to the contrary in this Section 3, subject to the provisions
of Section 3(e) relating to capitalization adjustments, the aggregate maximum number of shares of Company Stock that may be issued
pursuant to the exercise of Incentive Stock Options shall be such number of shares of Company Stock equal to the Remaining 2008
Plan Shares plus the amount of any increase in the number of shares that may be available for issuance pursuant to Grants pursuant
to Section 3(b), but in no event shall greater than the number of Remaining 2008 Plan Shares be issued as Incentive Stock Options
(the “Maximum Incentive Stock Option Limit”). Any additional shares added to the Plan pursuant to the Share Reserve
in excess of the Maximum Incentive Stock Option Limit shall not be issued as Incentive Stock Options but may be issued as Nonqualified
Stock Options or Stock Awards.

 

(e)              
Adjustments. If there is any change in the number or kind of shares of Company Stock outstanding (i) by reason
of a stock dividend, spinoff, recapitalization, stock split, or combination or exchange of shares, (ii) by reason of a merger,
reorganization or consolidation, (iii) by reason of a reclassification or change in par value, or (iv) by reason of any other extraordinary
or unusual event affecting the outstanding Company Stock as a class without the Company’s receipt of consideration, or if
the value of outstanding shares of Company Stock is substantially reduced as a result of a spinoff or the Company’s payment
of an extraordinary dividend or distribution, the maximum number of shares of Company Stock available for Grants, the maximum number
of shares of Company Stock that any individual participating in this Plan may be granted in any year, the number of shares covered
by outstanding Grants, the kind of shares issued under this Plan, and the price per share of such Grants shall be appropriately
adjusted by the Board to reflect any increase or decrease in the number of, or change in the kind or value of, issued shares of
Company Stock to preclude, to the extent practicable, the enlargement or dilution of rights and benefits under such Grants; provided,
however, that any fractional shares resulting from such adjustment shall be eliminated. Any adjustments determined by the Board
shall be final, binding and conclusive.

 

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4.                
 Eligibility for Participation.

 

(a)              
Eligible Persons. All employees of the Company and its parents or subsidiaries (“Employees”), including
Employees who are officers or members of the Board, and members of the Board who are not Employees (“Non-Employee Directors”)
shall be eligible to participate in this Plan. Consultants and advisors who perform services for the Company or any of its parents
or subsidiaries (“Key Advisors”) shall be eligible to participate in this Plan if the Key Advisors render bona fide
services to the Company or its parents or subsidiaries, the services are not in connection with the offer and sale of securities
in a capital-raising transaction, and the Key Advisors do not directly or indirectly promote or maintain a market for the Company’s
securities.

 

(b)              
Selection of Grantees. The Board shall select the Employees, Non-Employee Directors and Key Advisors to receive
Grants and shall determine the number of shares of Company Stock subject to a particular Grant in such manner as the Board determines.
Employees, Key Advisors and Non-Employee Directors who receive Grants under this Plan shall hereinafter be referred to as “Grantees.”

 

5.                
Granting of Options.

 

(a)              
Number of Shares. The Board shall determine the number of shares of Company Stock that will be subject to each
Grant of Options to Employees, Non-Employee Directors and Key Advisors.

 

(b)              
Type of Option and Price.

 

(i)                
The Board may grant Incentive Stock Options that are intended to qualify as “incentive stock options” within
the meaning of section 422 of the Code or Nonqualified Stock Options that are not intended so to qualify or any combination of
Incentive Stock Options and Nonqualified Stock Options, all in accordance with the terms and conditions set forth herein. Incentive
Stock Options may be granted only to employees of the Company or its parents or subsidiaries, as defined in section 424 of the
Code. Nonqualified Stock Options may be granted to Employees, Non-Employee Directors and Key Advisors. The date of grant of an
Option shall be the date on which the Board makes the determination to grant such Option unless a later date is otherwise specified
by the Board or in the applicable grant agreement.

 

(ii)               
The purchase price (the “Exercise Price”) of Company Stock subject to an Option shall be determined by the Board
and may be equal to or greater than the Fair Market Value (as defined below) of a share of Company Stock on the date the Option
is granted; provided, however, that (x) the Exercise Price of an Incentive Stock Option shall be equal to, or greater than, the
Fair Market Value of a share of Company Stock on the date the Incentive Stock Option is granted and (y) an Incentive Stock Option
may not be granted to an Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power
of all classes of stock of the Company or any parent or subsidiary of the Company, unless the Exercise Price per share is not less
than 110% of the Fair Market Value of Company Stock on the date of grant.

 

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(iii)               If
the Company Stock is publicly traded, then the Fair Market Value per share shall be determined as follows: (x) if the
principal trading market for the Company Stock is a national securities exchange, the last reported sale price thereof on the
relevant date or (if there were no trades on that date) the latest preceding date upon which a sale was reported, or (y) if
the Company Stock is not principally traded on such exchange or market, the mean between the last reported “bid”
and “asked” prices of Company Stock on the relevant date, as reported by the National Daily Quotation Bureau,
Inc. or as reported in a customary financial reporting service, as applicable and as the Board determines. If the Company
Stock is not publicly traded or, if publicly traded, is not subject to reported transactions or “bid” or
 “asked” quotations as set forth above, the Fair Market Value per share shall be as determined by the Board.

 

(c)              
Option Term. The Board shall determine the term of each Option. The term of any Option shall not exceed ten years
from the date of grant. However, an Incentive Stock Option that is granted to an Employee who, at the time of grant, owns stock
possessing more than 10% of the total combined voting power of all classes of stock of the Company, or any parent or subsidiary
of the Company, may not have a term that exceeds five years from the date of grant.

 

(d)             
Exercisability of Options.

 

(i)                
Options shall become exercisable in accordance with such terms and conditions, consistent with this Plan, as may be determined
by the Board and specified in the Grant Instrument. The Board may accelerate the exercisability of any or all outstanding Options
at any time for any reason.

 

(ii)               
The Board may provide in a Grant Instrument that the Grantee may elect to exercise part or all of an Option before it otherwise
has become exercisable. Any shares so purchased shall be restricted shares and shall be subject to a repurchase right in favor
of the Company during a specified restriction period, with the repurchase price equal to the lesser of (i) the Exercise Price or
(ii) the Fair Market Value of such shares at the time of repurchase, or such other restrictions as the Board deems appropriate.

 

(e)              
Grants to Non-Exempt Employees. Notwithstanding the foregoing, Options granted to persons who are non-exempt
employees under the Fair Labor Standards Act of 1938, as amended, shall have an Exercise Price not less than the Fair Market Value
of the Company Stock on the date of grant, and may not be exercisable for at least six months after the date of grant (except that
such Options may become exercisable, as determined by the Board, upon the Grantee’s death, Disability or retirement, or upon
a Change of Control or other circumstances permitted by applicable regulations).

 

(f)               
Termination of Employment, Disability or Death.

 

(i)                 Except
as provided below, an Option may only be exercised while the Grantee is employed by, or providing service to, the Employer
(as defined below) as an Employee, Key Advisor or member of the Board. In the event that a Grantee ceases to be employed by,
or provide service to, the Employer for any reason other than Disability, death, or termination for Cause, any Option which
is otherwise exercisable by the Grantee shall terminate unless exercised within three months after the date on which the
Grantee ceases to be employed by, or provide service to, the Employer (or within such other period of time as may be
specified by the Board), but in any event no later than the date of expiration of the Option term. Except as otherwise
provided by the Board, any of the Grantee’s Options that are not otherwise exercisable as of the date on which the
Grantee ceases to be employed by, or provide service to, the Employer shall terminate as of such date.

 

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(ii)               
In the event the Grantee ceases to be employed by, or provide service to, the Employer on account of a termination for Cause
by the Employer, any Option held by the Grantee shall terminate as of the date the Grantee ceases to be employed by, or provide
service to, the Employer. In addition, notwithstanding any other provisions of this Section 5, if the Board determines that the
Grantee has engaged in conduct that constitutes Cause at any time while the Grantee is employed by, or providing service to, the
Employer or after the Grantee’s termination of employment or service, any Option held by the Grantee shall immediately terminate,
and the Grantee shall automatically forfeit all shares underlying any exercised portion of an Option for which the Company has
not yet delivered the share certificates, upon refund by the Company of the Exercise Price paid by the Grantee for such shares.
Upon any exercise of an Option, the Company may withhold delivery of share certificates pending resolution of an inquiry that could
lead to a finding resulting in a forfeiture.

 

(iii)              
In the event the Grantee ceases to be employed by, or provide service to, the Employer because the Grantee is Disabled,
any Option which is otherwise exercisable by the Grantee shall terminate unless exercised within one year after the date on which
the Grantee ceases to be employed by, or provide service to, the Employer (or within such other period of time as may be specified
by the Board), but in any event no later than the date of expiration of the Option term. Except as otherwise provided by the Board,
any of the Grantee’s Options which are not otherwise exercisable as of the date on which the Grantee ceases to be employed
by, or provide service to, the Employer shall terminate as of such date.

 

(iv)              
If the Grantee dies while employed by, or providing service to, the Employer or within three months after the date on which
the Grantee ceases to be employed or provide service on account of a termination specified in Section 5(f)(i) (or within such other
period of time as may be specified by the Board), any Option that is otherwise exercisable by the Grantee shall terminate unless
exercised within one year after the date on which the Grantee ceases to be employed by, or provide service to, the Employer (or
within such other period of time as may be specified by the Board), but in any event no later than the date of expiration of the
Option term. Except as otherwise provided by the Board, any of the Grantee’s Options that are not otherwise exercisable as
of the date on which the Grantee ceases to be employed by, or provide service to, the Employer shall terminate as of such date.

 

(v)               
For purposes of this Section 5(f) and Section 6:

 

(A)              
The term “Employer” shall include the Company and its parent and subsidiary corporations or other entities,
as appropriate and as determined by the Board.

 

(B)               
“Employed by, or provide service to, the Employer” shall mean employment or service as an Employee, Key Advisor
or member of the Board (so that, for purposes of exercising Options and satisfying conditions with respect to Stock Awards, a Grantee
shall not be considered to have terminated employment or service until the Grantee ceases to be an Employee, Key Advisor or member
of the Board), unless the Board determines otherwise.

 

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(C)              
 “Disability” shall mean a Grantee’s becoming disabled within the meaning of section 22(e)(3) of the Code,
within the meaning of the Employer’s long-term disability plan applicable to the Grantee, or as otherwise determined by the
Board.

 

(D)              
“Cause” shall mean, except to the extent specified otherwise by the Board, a finding by the Board that the Grantee
(i) has breached his or her employment or service contract with the Employer, (ii) has engaged in disloyalty to the Company, including,
without limitation, fraud, embezzlement, theft, commission of a felony or proven dishonesty, (iii) has disclosed trade secrets
or confidential information of the Employer to persons not entitled to receive such information, (iv) has breached any written
noncompetition or nonsolicitation agreement between the Grantee and the Employer or (v) has engaged in such other behavior detrimental
to the interests of the Employer as the Board determines.

 

(g)              
Exercise of Options. A Grantee may exercise an Option that has become exercisable, in whole or in part, by delivering
a notice of exercise to the Company with payment of the Exercise Price: provided, however, that the Committee shall have the power
to permit: (i) the exercise of unvested Options, or portions thereof, for the purchase of shares of restricted Common Stock subject
to a repurchase right in favor of the Company, with the repurchase price being equal to the lesser of (x) the original purchase
price or (y) the Fair Market Value of the shares on the date of repurchase, or to any other restrictions as the Committee deems
to be appropriate, and (ii) the acceleration of previously established exercise terms, in each case upon such circumstances and
subject to such terms and conditions as the Committee shall determine. The Grantee shall pay the Exercise Price for an Option as
specified by the Board (I) in cash, (II) with the approval of the Board, by delivering shares of Company Stock owned by the Grantee
(including Company Stock acquired in connection with the exercise of an Option, subject to such restrictions as the Board deems
appropriate) and having a Fair Market Value on the date of exercise equal to the Exercise Price or by attestation (on a form prescribed
by the Board) to ownership of shares of Company Stock having a Fair Market Value on the date of exercise equal to the Exercise
Price, (III) after a Public Offering, payment through a broker in accordance with procedures permitted by Regulation T of the Federal
Reserve Board, or (IV) by such other method as the Board may approve. The Board may authorize loans by the Company to Grantees
in connection with the exercise of an Option, upon such terms and conditions as the Board, in its sole discretion, deems appropriate.
Shares of Company Stock used to exercise an Option shall have been held by the Grantee for the requisite period of time to avoid
adverse accounting consequences to the Company with respect to the Option. The Grantee shall pay the Exercise Price and the amount
of any withholding tax due (pursuant to Section 7) at the time of exercise.

 

(h)             
Limits on Incentive Stock Options. Each Incentive Stock Option shall provide that, if the aggregate Fair Market
Value of the stock on the date of the grant with respect to which Incentive Stock Options are exercisable for the first time by
a Grantee during any calendar year, under this Plan or any other stock option plan of the Company or a parent or subsidiary, exceeds
$100,000, then the Option, as to the excess, shall be treated as a Nonqualified Stock Option. An Incentive Stock Option shall not
be granted to any person who is not an Employee of the Company or a parent or subsidiary (within the meaning of section 424(f)
of the Code) of the Company.

 

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6.                
 Stock Awards. The Board may issue shares of Company Stock to an Employee, Non-Employee Director or Key Advisor
under a Stock Award, upon such terms as the Board deems appropriate. The following provisions are applicable to Stock Awards:

 

(a)              
General Requirements. Shares of Company Stock issued pursuant to Stock Awards may be issued for consideration
or for no consideration, and subject to restrictions or no restrictions, as determined by the Board. The Board may establish conditions
under which restrictions on Stock Awards shall lapse over a period of time or according to such other criteria as the Board deems
appropriate. The period of time during which the Stock Award will remain subject to restrictions will be designated in the Grant
Instrument as the “Restriction Period.”

 

(b)              
Number of Shares. The Board shall determine the number of shares of Company Stock to be issued pursuant to a
Stock Award and the restrictions applicable to such shares.

 

(c)              
Requirement of Employment or Service. If the Grantee ceases to be employed by, or provide service to, the Employer
(as defined in Section 5(f)) during a period designated in the Grant Instrument as the Restriction Period, or if other specified
conditions are not met, the Stock Award shall terminate as to all shares covered by the award as to which the restrictions have
not lapsed, and those shares of Company Stock must be immediately returned to the Company. The Board may, however, provide for
complete or partial exceptions to this requirement as it deems appropriate.

 

(d)              
Restrictions on Transfer and Legend on Stock Certificate. During the Restriction Period, a Grantee may not sell,
assign, transfer, pledge or otherwise dispose of the shares of the Stock Award except to a successor under Section 8(a). Each certificate
for Stock Awards shall contain a legend giving appropriate notice of the restrictions in the Grant. The Grantee shall be entitled
to have the legend removed from the stock certificate covering the shares subject to restrictions when all restrictions on such
shares have lapsed. The Board may determine that the Company will not issue certificates for Stock Awards until all restrictions
on such shares have lapsed, or that the Company will retain possession of certificates for Stock Awards until all restrictions
on such shares have lapsed.

 

(e)              
Right to Vote and to Receive Dividends. During the Restriction Period, the Grantee shall have the right to vote
shares subject to Stock Awards and to receive any dividends or other distributions paid on such shares, subject to any restrictions
deemed appropriate by the Board.

 

(f)               
Lapse of Restrictions. All restrictions imposed on Stock Awards shall lapse upon the expiration of the applicable
Restriction Period and the satisfaction of all conditions imposed by the Board. The Board may determine, as to any or all Stock
Awards, that the restrictions shall lapse without regard to any Restriction Period.

 

7.                
Withholding of Taxes.

 

(a)               Required
Withholding. All Grants under this Plan shall be subject to applicable federal (including FICA), state and local tax
withholding requirements. The Employer may require that the Grantee or other person receiving or exercising Grants pay to the
Employer the amount of any federal, state or local taxes that the Employer is required to withhold with respect to such
Grants, or the Employer may deduct from other wages paid by the Employer the amount of any withholding taxes due with respect
to such Grants.

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(b)             
Election to Withhold Shares. If the Board so permits, a Grantee may elect to satisfy the Employer’s income
tax withholding obligation with respect to a Grant by having shares withheld up to an amount that does not exceed the Grantee’s
minimum applicable withholding tax rate for federal (including FICA), state and local tax liabilities. The election must be in
a form and manner prescribed by the Board and may be subject to the prior approval of the Board.

 

8.                
Transferability of Grants.

 

(a)              
Nontransferability of Grants. Except as provided below, only the Grantee may exercise rights under a Grant during
the Grantee’s lifetime. A Grantee may not transfer those rights except (i) by will or by the laws of descent and distribution
or (ii) with respect to Grants other than Incentive Stock Options, if permitted in any specific case by the Board, pursuant to
a domestic relations order or otherwise as permitted by the Board. When a Grantee dies, the personal representative or other person
entitled to succeed to the rights of the Grantee may exercise such rights. Any such successor must furnish proof satisfactory to
the Company of his or her right to receive the Grant under the Grantee’s will or under the applicable laws of descent and
distribution.

 

(b)              
Transfer of Nonqualified Stock Options. Notwithstanding the foregoing, the Board may provide, in a Grant Instrument,
that a Grantee may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit
of or owned by family members, consistent with applicable securities laws, according to such terms as the Board may determine;
provided that the Grantee receives no consideration for the transfer of an Option and the transferred Option shall continue to
be subject to the same terms and conditions as were applicable to the Option immediately before the transfer.

 

9.                 
Right of First Refusal; Repurchase Right.

 

(a)              
Offer. Prior to a Public Offering, if at any time an individual desires to sell, encumber, or otherwise dispose
of shares of Company Stock that were distributed to him or her under this Plan and that are transferable, the individual may do
so only pursuant to a bona fide written offer, and the individual shall first offer the shares to the Company by giving the Company
written notice disclosing: (i) the name of the proposed transferee of the Company Stock; (ii) the certificate number and number
of shares of Company Stock proposed to be transferred or encumbered; (iii) the proposed price; (iv) all other terms of the proposed
transfer; and (v) a written copy of the proposed offer. Within 60 days after receipt of such notice, the Company shall have the
option to purchase all or part of such Company Stock at the price and on the terms described in the written notice; provided that
the Company may pay such price in installments over a period not to exceed four years, at the discretion of the Board.

 

(b)              Sale.
In the event the Company (or a stockholder, as described below) does not exercise the option to purchase Company Stock, as
provided above, the individual shall have the right to sell, encumber, or otherwise dispose of the shares of Company Stock
described in Section 9(a) at the price and on the terms of the transfer set forth in the written notice to the Company,
provided such transfer is effected within 15 days after the expiration of the option period. If the transfer is not effected
within such period, the Company must again be given an option to purchase, as provided above.

 

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(c)              
Assignment of Rights. The Board, in its sole discretion, may waive the Company’s right of first refusal
and repurchase right under this Section 9. If the Company’s right of first refusal or repurchase right is so waived, the
Board may, in its sole discretion, assign such right to the remaining stockholders of the Company in the same proportion that each
stockholder’s stock ownership bears to the stock ownership of all the stockholders of the Company, as determined by the Board.
To the extent that a stockholder has been given such right and does not purchase his or her allotment, the other stockholders shall
have the right to purchase such allotment on the same basis.

 

(d)             
Purchase by the Company. Prior to a Public Offering, if a Grantee ceases to be employed by, or provide service
to, the Employer, the Company shall have the right to purchase all or part of any Company Stock distributed to him or her under
this Plan at its then current Fair Market Value (as defined in Section 5(b)) (or at such other price as may be established in the
Grant Instrument); provided, however, that such repurchase shall be made in accordance with applicable accounting rules to avoid
adverse accounting treatment.

 

(e)              
Public Offering. On and after a Public Offering, the Company shall have no further right to purchase shares of
Company Stock under this Section 9.

 

(f)               
Stockholders Agreement. Notwithstanding the provisions of this Section 9, if the Board requires that a Grantee
execute a Stockholders Agreement (or other agreement containing first refusal or repurchase rights) with respect to any Company
Stock distributed pursuant to this Plan, such Grantee shall execute such Stockholders Agreement (or other such agreement) as a
condition to retaining his or her rights to such Company Stock. If such Stockholders Agreement (or other such agreement) contains
a right of first refusal or repurchase right, the provisions of this Section 9 shall not apply to such Company Stock for as long
as those provisions of the Stockholders Agreement (or other agreement) are in effect, unless the Board determines otherwise.

 

10.             
Change of Control of the Company.

 

(a)              
Definitions.

 

As used in this Plan,
a “Change of Control” shall mean:

 

(i)                
any merger or consolidation in which voting securities of the Company possessing more than 50% of the total combined voting
power of the Company’s outstanding securities are Transferred to a person or persons different from the person holding those
securities immediately prior to such transaction and the composition of the Board following such transaction is such that the directors
of the Company prior to the transaction constitute less than 50% of the Board membership following the transaction;

 

(ii)                any
acquisition, directly or indirectly, by a person or related group of persons (other than the Company or a person that
directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership of
voting securities of the Company possessing more than 50% of the total combined voting power of the Company’s
outstanding securities; provided, however, that, no Change of Control shall be deemed to occur by reason of the acquisition
of shares of the Company’s capital stock by an investor in the Company in a capital-raising transaction;

 

    10

     

    

 

(iii)              
any acquisition, directly or indirectly, by a person or related group of persons of the right to appoint a majority of the
directors of the Company or otherwise directly or indirectly control the management, affairs and business of the Company;

 

(iv)              
any sale, transfer or other disposition of all or substantially all of the assets of the Company; or

 

(v)               
a complete liquidation or dissolution of the Company.

 

As used in this Section
10, “Transfer” shall include any sale, exchange, assignment, gift, bequest, disposition, mortgage, charge, pledge,
encumbrance, grant of a security interest or other arrangement by which possession, legal title or beneficial ownership passes
from one Person to another, or to the same Person in a different capacity, whether or not voluntarily and whether or not for value,
and including without limitation any merger or amalgamation and any agreement to effect any of the foregoing.

 

(b)             
Assumption of Grants. Upon a Change of Control where the Company is not the surviving corporation (or survives
only as a subsidiary of another corporation), unless the Board determines otherwise, all outstanding Options that are not exercised
shall be assumed by, or replaced with comparable options by the surviving corporation (or a parent or subsidiary of the surviving
corporation), and outstanding Stock Awards shall be converted to Stock Awards of the surviving corporation (or a parent or subsidiary
of the surviving corporation).

 

(c)              
Other Alternatives. Notwithstanding the foregoing, in the event of a Change of Control, the Board may take any
of the following actions with respect to any or all outstanding Grants: the Board may (i) determine that outstanding Options shall
accelerate and become exercisable, in whole or in part, upon the Change of Control or upon such other event as the Board determines,
(ii) determine that the restrictions and conditions on outstanding Stock Awards shall lapse, in whole or in part, upon the Change
of Control or upon such other event as the Board determines, (iii) require that Grantees surrender their outstanding Options in
exchange for a payment by the Company, in cash or stock as determined by the Board, in an amount equal to the amount by which the
then Fair Market Value of the shares of Company Stock subject to the Grantee’s unexercised Options exceeds the Exercise Price
of the Options or (iv) after giving Grantees an opportunity to exercise their outstanding Options, terminate any or all unexercised
Options at such time as the Board deems appropriate. Such surrender or termination shall take place as of the date of the Change
of Control or such other date as the Board may specify. The Board shall have no obligation to take any of the foregoing actions,
and, in the absence of any such actions, outstanding Options and Stock Awards shall continue in effect according to their terms
(subject to any assumption pursuant to subsection (b)).

 

    11

     

    

 

11.             
Requirements for Issuance of Shares.

 

(a)              
Stockholders Agreement/Voting Agreement. The Board may require that a Grantee become a party to a stockholders
agreement, co-sale agreement and/or a voting agreement, or any similar type of agreement to which the holders of Common Stock
generally are required to become parties (each, a “Stockholders Agreement”), in each case, with such terms as the
Board deems appropriate, with respect to any Company Stock issued pursuant to this Plan, and as a condition to the issuance of
such Company Stock in such event, the Grantee shall be required to execute and deliver to the Company an agreement to be bound
by such Stockholders Agreement.

 

(b)             
Limitations on Issuance of Shares. No Company Stock shall be issued in connection with any Grant hereunder unless
and until all legal requirements applicable to the issuance of such Company Stock have been complied with to the satisfaction of
the Board. The Board shall have the right to condition any Grant made to any Grantee hereunder on such Grantee’s undertaking
in writing to comply with such restrictions on his or her subsequent disposition of such shares of Company Stock as the Board shall
deem necessary or advisable, and certificates representing such shares may be legended to reflect any such restrictions. Certificates
representing shares of Company Stock issued under this Plan will be subject to such stop-transfer orders and other restrictions
as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon.

 

(c)              
Lock-Up Period. If so requested by the Company or any representative of the underwriters (the “Managing
Underwriter”) in connection with any underwritten offering of securities of the Company under the Securities Act of 1933,
as amended (the “Securities Act”), a Grantee (including any successor or assigns) shall not sell or otherwise transfer
any shares or other securities of the Company during the 30-day period preceding and the 180-day period following the effective
date of a registration statement of the Company filed under the Securities Act for such underwriting (or such shorter period as
may be requested by the Managing Underwriter and agreed to by the Company) (the “Market Standoff Period”). If so requested,
the Grantee shall enter into a separate written agreement to such effect in form and substance requested by the Company or the
Managing Underwriter. The Company may impose stop transfer instructions with respect to securities subject to the foregoing restrictions
until the end of such Market Standoff Period. Notwithstanding the foregoing, the Company may require that a Grantee execute a Stockholders
Agreement or other agreement containing lock-up provisions. If such Stockholders Agreement or other agreement contains any lock-up
or market standoff provisions that differ from the provisions of this Section 11(c), for as long as the provisions of such other
agreement are in effect, the provisions of this Section 11(c) shall not apply to such Company Stock, unless the Board determines
otherwise.

 

12.             
Amendment and Termination of This Plan.

 

(a)              
Amendment. The Board may amend or terminate this Plan at any time; provided, however, that the Board shall not
amend this Plan without stockholder approval if such approval is required in order to comply with the Code or other applicable
laws, or, after a Public Offering, to comply with applicable stock exchange requirements.

 

(b)             
Termination of This Plan. This Plan shall terminate on the day immediately preceding the tenth anniversary of
the Effective Date, unless this Plan is terminated earlier by the Board or is extended by the Board with the approval of the stockholders.

 

    12

     

    

 

(c)              
 Termination and Amendment of Outstanding Grants. A termination or amendment of this Plan that occurs after a
Grant is made shall not materially impair the rights of a Grantee unless the Grantee consents or unless the Board acts under Section
18(b). The termination of this Plan shall not impair the power and authority of the Board with respect to an outstanding Grant.
Whether or not this Plan has terminated, an outstanding Grant may be terminated or amended under Section 18(b) or may be amended
by agreement of the Company and the Grantee consistent with this Plan.

 

(d)              
Governing Document. This Plan shall be the controlling document. No other statements, representations, explanatory
materials or examples, oral or written, may amend this Plan in any manner. This Plan shall be binding upon and enforceable against
the Company and its successors and assigns.

 

13.             
Funding of This Plan. This Plan shall be unfunded. The Company shall not be required to establish any special
or separate fund or to make any other segregation of assets to assure the payment of any Grants under this Plan. In no event shall
interest be paid or accrued on any Grant, including unpaid installments of Grants.

 

14.             
Rights of Participants. Nothing in this Plan shall entitle any Employee, Key Advisor, Non-Employee Director or
other person to any claim or right to be granted a Grant under this Plan. Neither this Plan nor any action taken hereunder shall
be construed as giving any individual any rights to be retained by or in the employ of the Employer or any other employment rights.

 

15.             
No Fractional Shares. No fractional shares of Company Stock shall be issued or delivered pursuant to this Plan
or any Grant. The Board shall determine whether cash, other awards or other property shall be issued or paid in lieu of such fractional
shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated.

 

16.             
Headings. Section headings are for reference only. In the event of a conflict between a title and the content
of a Section, the content of the Section shall control.

 

17.             
Effective Date of This Plan.

 

(a)              
Effective Date. This Plan was originally effective on the Effective Date set forth on the first page above. The
Plan was amended and restated (and hereafter may be further amended and/or restated) on the respective dates set forth on the first
page above.

 

(b)              
Public Offering. The provisions of this Plan that refer to a Public Offering, or that refer to, or are applicable
to persons subject to, section 16 of the Exchange Act, shall be effective, if at all, upon the initial registration of the Company
Stock under section 12(b) or 12(g) of the Exchange Act, and shall remain effective thereafter for as long as such stock is so registered.

 

    13

     

    

 

18.             
Miscellaneous.

 

(a)              Grants
in Connection with Corporate Transactions and Otherwise. Nothing contained in this Plan shall be construed to (i)
limit the right of the Board to make Grants under this Plan in connection with the acquisition, by purchase, lease, merger,
consolidation or otherwise, of the business or assets of any corporation, firm or association, including Grants to employees
thereof who become Employees, or for other proper corporate purposes, or (ii) limit the right of the Company to grant stock
options or make other awards outside of this Plan. Without limiting the foregoing, the Board may make a Grant to an employee
of another corporation who becomes an Employee by reason of a corporate merger, consolidation, acquisition of stock or
property, reorganization or liquidation involving the Company, the Parent or any of their subsidiaries in substitution for a
stock option or Stock Awards grant made by such corporation. The terms and conditions of the substitute grants may vary from
the terms and conditions required by this Plan and from those of the substituted stock incentives. The Board shall prescribe
the provisions of the substitute grants.

 

(b)             
Compliance with Law. This Plan, the exercise of Options and the obligations of the Company to issue shares of
Company Stock under Grants shall be subject to all applicable laws and to approvals by any governmental or regulatory agency as
may be required. With respect to persons subject to section 16 of the Exchange Act, after a Public Offering it is the intent of
the Company that this Plan and all transactions under this Plan comply with all applicable provisions of Rule 16b-3 or its successors
under the Exchange Act. In addition, it is the intent of the Company that this Plan and applicable Grants under this Plan comply
with the applicable provisions of section 422 of the Code. To the extent that any legal requirement of section 16 of the Exchange
Act or 422 of the Code as set forth in this Plan ceases to be required under section 16 of the Exchange Act or section 422 of the
Code, that Plan provision shall cease to apply. The Board may revoke any Grant if it is contrary to law or modify a Grant to bring
it into compliance with any valid and mandatory government regulation. The Board may also adopt rules regarding the withholding
of taxes on payments to Grantees. The Board may, in its sole discretion, agree to limit its authority under this Section.

 

(c)              
Employees Subject to Taxation Outside the United States. With respect to Grantees who are subject to taxation
in countries other than the United States, the Board may make Grants on such terms and conditions as the Board deems appropriate
to comply with the laws of the applicable countries, and the Board may create such procedures, addenda and subplans and make such
modifications as may be necessary or advisable to comply with such laws.

 

(d)             
Governing Law. The validity, construction, interpretation and effect of this Plan and Grant Instruments issued
under this Plan shall be governed and construed by and determined in accordance with the laws of the State of Delaware, without
giving effect to the conflict of laws provisions thereof.

 

    14Exhibit 10.9 

 

 

May 30, 2019

 

Purnanand Sarma, PhD

 

Re:      Immunome, Inc. Employment Offer

 

Dear Purnanand:

 

On behalf of Immunome,
Inc. (the “Company”), I am pleased to offer you employment as President and Chief Executive Officer, reporting
to the Board of Directors (the “Board”). The purpose of this letter agreement is to set forth the terms of the
offer. Certain capitalized terms are defined in Section 12 of this letter agreement.

 

		1.	Position; Duties.

 

		(a)	Your position will be as a regular full-time employee commencing on June 3, 2019 (the “Commencement Date”).
You will work out of the Company’s headquarters in Exton, Pennsylvania. You will also be elected a director of the Company
promptly after the Commencement Date.

 

		(b)	You agree that, to the best of your ability and experience, you will at all times loyally and conscientiously perform all of
the duties and obligations required of and from you consistent with your position and to the reasonable satisfaction of the Company.
You further agree that you will devote substantially all of your business time and attention to the business of the Company, and
you will not render business or professional services of any nature to any other person or organization, whether or not for compensation,
without the prior written consent of the Board in its sole and absolute discretion. Exhibit A to this letter agreement contains
a list of the other business and professional activities in which you are currently engaged and have been approved by the Board.
You will be subject to and expected to abide by the Company’s policies and procedures, as these may be changed by the Company
from time to time in its discretion.

 

		2.	Base Salary. Your annual base salary will be $400,000 (less applicable required tax withholding and deductions).
Your salary will be paid in accordance with the Company’s standard payroll policies. Your salary will be subject to periodic
review and increase at the Board’s sole discretion in conjunction with the Company’s annual performance reviews.

 

		3.	Bonus. Each calendar year, you will be eligible for a bonus targeted at 35% of your annual base salary. For 2019, you
will be eligible for a prorated bonus based upon the fraction of the calendar year remaining from the Commencement Date. Bonus
payments, if any, will be based on achievement of Company and individual performance objectives, as determined by the Board in
consultation with you. Payment of any bonus compensation shall be made in a single lump sum payment no later than March 15 of the
calendar year following the calendar year to which the bonus relates as long as you remain continuously employed by the Company
through the date of payment; provided, however, that if you are terminated without Cause or resign for Good Reason after
the end of the applicable calendar year but prior to the payment date then you will receive any otherwise earned bonus.

 

    1 

     

    

 

		4.	Stock Options.

 

		(a)	You will be granted a stock option (the “Option”) exercisable for a number of shares of Common Stock representing
5% of the fully-diluted equity of the Company (the “5% Ownership Percentage”) as of the Commencement Date. (For purposes
of this Agreement, “fully-diluted equity” means the total number of shares of outstanding Company Common Stock and
Company Preferred Stock, with the Preferred Stock calculated on an as-converted to Common Stock basis, including for this purpose
the maximum number of shares issuable under the Equity Incentive Plan (inclusive of granted options and unallocated shares reserved
for issuance thereunder). Vesting will start on the sooner of the closing of the Financing (defined in Section 5(b)) or one year
after the Commencement Date. Vesting is calculated over a 48-month schedule, starting with the month after the Commencement Date,
and you will be given retroactive vesting credit for purposes of calculating the number of vested shares on the first vesting date.
The strike price of the stock option will be $1.50 per share.

 

		(b)	In addition, upon the closing of the Financing (defined in Section 5(b)), you will be granted an additional stock option (the
 “Financing Option”) exercisable for a number of shares sufficient so as to maintain the 5% Ownership Percentage after
giving effect to the Financing. The Financing Option will vest in 48 consecutive equal monthly installments, starting one month
after the closing of the Financing. The strike price of the Financing Option will be the same per-share price of the shares sold
in the Financing.

 

		(c)	Both stock options will accelerate in full upon a Change of Control. Except as provided herein, the stock options will be subject
to the terms of the Equity Incentive Plan and a stock option agreement to be executed by you as a condition to the grant. The stock
option agreements will provide that, except in the case of accelerated vesting, as described herein, vesting is conditioned upon
your continued employment with the Company at each applicable vesting date. You may also be eligible to be considered for additional
stock option grants, at the Board’s discretion. It is agreed that Section 5(f)(ii) of the Equity Incentive Plan (concerning
the treatment of your option shares in the event of a termination for Cause) shall not apply to your vested option shares, whether
exercised or not, and that such shares shall not terminate, be forfeited or be subject to repurchase by the Company for their exercise
price pursuant to such Section 5(f)(ii), and those vested option shares shall instead be treated as provided in Section 5(f)(i).

 

		5.	Commuting and Relocation Expenses.

 

		(a)	Until you relocate, as described below, the Company will pay directly or reimburse to you the reasonable out-of-pocket costs
of your commuting to Exton, Pennsylvania from Carlisle, Massachusetts (to the extent that they are reasonably documented and submitted
to the Company for reimbursement promptly after they are incurred). Such expenses will include, without limitation, reasonable,
out of pocket costs for coach airfare, hotel/temporary accommodation (or accommodation in the Company’s corporate apartment),
and car rental/other transportation. The reimbursement under this paragraph will continue until the earlier of the time you move
to Exton or one year after the Commencement Date.

 

		(b)	You have agreed that, within a reasonable period of time following the Company’s first institutional preferred stock
financing consummated after the Commencement Date (the “Financing”), you will relocate to a location that is
within a 45-mile radius of the Company’s headquarters. The Company will pay directly or reimburse the reasonable out-of-pocket
cost of relocating you and your immediate family from your primary residence to this new location. Upon your relocation, the Company
will not have any obligation to pay or reimburse your post-relocation commuting expenses pursuant to Section 5(a). Additionally,
the Company will reimburse you for any reasonable commission payable to your realtor on the sale of your home in Massachusetts.

 

		6.	Employee Benefits. You will be entitled to four weeks’ vacation per calendar year, accruing in accordance
with the vacation policies established by the Company from time to time. You will also be entitled to participate in the Company’s
other employee benefit plans as they are generally made available to other employees of similar status and service. These benefits,
as well as all other Company compensation and benefit programs, are subject to change and termination from time to time as deemed
appropriate by the Company in its sole discretion.

 

    2 

     

    

 

		7.	Employee Covenants. As a condition of employment, you will be required to sign, without changing, the Company’s
form of Employee Confidential Disclosure, Invention Assignment, Non-Competition, Non-Solicitation and Non-Interference Agreement
(the “Confidential Disclosure Agreement”). By accepting the offer set forth in this letter agreement, you agree
that you will not bring with you to the Company, or use in any way during your employment with the Company, any confidential information,
trade secrets or proprietary materials or processes of any former employer, entity, trust or individual for which you have performed
services. You further confirm that by accepting this offer and performing work for the Company, you will not breach any contract,
agreement or other instrument to which you are a party or are bound.

 

		8.	At-Will Employment; Employment Termination. Please note that this letter agreement does not create a contract
or promise of employment for a definite period of time. Therefore, your employment will be on an “at-will” basis, meaning
it may be terminated by either party at any time, with or without cause and with or without prior notice. We do request, however,
that you give two weeks’ notice if you decide to terminate your employment with the Company. In the event that you become
an employee of the Company pursuant to this letter agreement and your employment thereafter is terminated by the Company other
than for Cause or by you for Good Reason, then, subject to the condition precedent of your execution (without timely revocation
if a revocation period is provided) and delivery of a general release in customary form, and returning to the Company all of its
property and confidential information in your possession, the Company will (i) continue your base salary for six months after the
date of your termination in accordance with the Company’s standard payroll practices and periods (less required withholding
and deductions); provided, that if you remain continuously employed by the Company for the full 12-month period immediately following
the Commencement Date, such six-month period shall be automatically extended to 12 months, so long as all other conditions precedent
set forth above are met; and (ii) accelerate each of your stock options for six months if such termination occurs prior to the
12-month period following the Commencement Date and for 12 months if such termination occurs after the 12-month anniversary of
the Commencement Date but, as to clause (ii), subject to the further condition that the Financing shall have been consummated prior
to the date of your termination or resignation. Upon termination of your employment hereunder for any reason, you shall automatically
be deemed to have resigned from all positions that you hold as an officer or member of the Board (or any committee thereof) of
the Company or any of its affiliates and in any event will at the Company’s request execute a resignation letter to document
this agreement.

 

		9.	Parachute Provisions. If the Company determines in good faith that any payments or benefits provided to you constitute
 “parachute payments” within the meaning of Section 280G of the Code (“Parachute Payments”)
and may be subject to an excise tax imposed pursuant to Section 4999 of the Code, the Parachute Payments will be reduced to an
amount determined by the Company in good faith to be the maximum amount that may be provided to you without resulting in any portion
of such Parachute Payments being subject to such excise tax (the amount of such reduction, the “Cutback Benefits”).
You will be entitled to select which Parachute Payments (of those that are not considered to be deferred compensation under Section
409A of the Code) shall be reduced hereunder. If the Company is then eligible, the Company will use commercially reasonable efforts
to obtain the approval of the Cutback Benefits by the Company’s stockholders in the manner contemplated by Q&A 7 of Treas.
Reg. Section 1.280G it being understood and agreed that the Company does not guarantee that such approval will be obtained. If,
and only if, the Company determines that such approval is obtained, will you be entitled to receive the Cutback Benefits without
regard to the first sentence of this Section.

 

    3 

     

    

 

		10.	Section 409A. This section is intended to help ensure that compensation paid or delivered to you pursuant to
this letter agreement either is paid in compliance with, or is exempt from, Section 409A of the Internal Revenue Code of 1986,
as amended and the rules and regulations promulgated thereunder (collectively, “Section 409A”):

 

		(a)	Any taxable reimbursement of business or other expenses, or any provision of taxable in-kind benefits to you, as specified
under this letter agreement, shall be subject to the following conditions: (i) the expenses eligible for reimbursement or the amount
of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind
benefits provided in any other taxable year; (ii) the reimbursement of an eligible expense shall be made no later than the end
of the year after the year in which such expense was incurred; and (iii) the right to reimbursement or in-kind benefits shall not
be subject to liquidation or exchange for another benefit. Any reimbursement of taxes, as specified under this letter agreement,
shall be paid in any event not later than the end of your taxable year next following the taxable year in which you remit the applicable
taxes to the appropriate taxing authority.

 

		(b)	The payment of any amounts otherwise payable to you on account of termination of employment under this letter agreement that
constitute deferred compensation within the meaning of Section 409A and that are subject (among other conditions, if any) to a
release of claims may be delayed at the discretion of the Company for up to 90 days following your termination of employment (without
regard to when your release is delivered and becomes irrevocable (an “Effective Release”) if reasonably determined
by the Company to be necessary to avoid penalties under Section 409A). Regardless of any payment, however, all such amounts remain
conditioned on an Effective Release such that if you fail to deliver (or revoke) your release you will forfeit and must immediately
return such amounts on the Company’s demand.

 

		(c)	In applying Section 409A to compensation paid pursuant to this letter agreement, any right to a series of installment payments
under this letter agreement shall be treated as a right to a series of separate payments.

 

		11.	Additional Agreements.

 

		(a)	You will be subject to and expected to abide by the Company’s policies and procedures, as these may be changed from time
to time.

 

		(b)	This offer expires at 5:00 p.m. on May 31, 2019, if not accepted by then.

 

		(c)	Your employment by the Company will be subject to successful completion of a pre-employment background check and documentation
of eligibility to work in the United States, to be completed no later than three business days following the Commencement Date.

 

		(d)	This letter agreement, including the Confidential Disclosure Agreement and your stock option agreement, constitute the complete
agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements,
representations or understandings (whether written, oral or implied) between you and the Company relating to the subject matter
herein.

 

		(e)	The terms of this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of
this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with
the Company or any other relationship between you and the Company (the “Disputes”) will be governed by the laws
of the Commonwealth of Pennsylvania, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive
personal jurisdiction of the federal and state courts located in the Commonwealth of Pennsylvania in connection with any Dispute
or any claim related to any Dispute.

 

		(f)	Notwithstanding anything to the contrary set forth herein, the Company may terminate this offer at any time prior to the Commencement
Date.

 

    4 

     

    

 

		12.	Defined Terms. For purposes of this letter agreement:

 

		(a)	“Cause” means a determination by the Board that of any of the following have occurred: (a) your conviction of or
plea of nolo contendere to a felony or any crime of moral turpitude; (b) your adjudication as an incompetent; (c) your willful
failure to faithfully, diligently and adequately perform your duties to the Company or your breach of any material obligation to
the Company, if, after the Company provides you with 20 days’ advance written notice of such failure or breach, you fail
to cure such failure or breach; (d) your violation in any material respect of any of the Company’s rules, regulations or
policies, if such violation causes material harm to the Company and, after the Company provides you with 20 days’ advance
written notice of such violation, you fail to cure such violation; (e) your gross insubordination in the performance of your duties;
(f) you breach in any material respect this letter agreement if such breach causes material harm to the Company and you fail to
cure such breach after the Company provides you with 20 days’ advance written notice or you breach in any material respect
the Confidential Disclosure Agreement if such breach causes material harm to the Company; (g) your misappropriation of any funds
or property of the Company, theft, embezzlement or fraud; or (i) your reporting to work or performing any work under the influence
of alcohol or your use of an illegal drug. This definition of Cause will apply to this letter agreement and will be the definition
of Cause that applies to your stock options (rather than the definition of Cause that is stated in the Equity Incentive Plan).

 

		(b)	“Change of Control” shall have the meaning set forth in the Equity Incentive Plan.

 

		(c)	“Equity Incentive Plan” means the Company’s Amended and Restated 2018 Equity Incentive Plan or any future
equity incentive plan adopted by the Board and then in effect.

 

		(d)	“Good Reason” shall mean the occurrence of one of the following events without your written consent: (A) reduction
of your base salary or bonus target percentage below the amounts as initially set forth herein; (B) material change or reduction
in your authority, duties or responsibilities, provided, however, that a change in job title shall not be deemed a “material
reduction” unless your new authority, duties or responsibilities are substantially changed or reduced from the prior authority,
duties or responsibilities; (C) your direct reporting to someone other than the Board; or (D) relocation of your principal place
of employment after moving to Exton, Pennsylvania by more than thirty (30) miles from the Company’s current location, unless
the relocation is otherwise approved by you. Notwithstanding the foregoing, Good Reason under clause (B) and clause (C) will not
be triggered if your service on the Board is terminated, your job title is changed or you no longer report to the Board after a
Change of Control involving a “big pharma” acquirer as long as you are thereafter reporting to the board of directors
or a senior officer of the acquirer and your essential function with regard to the Company’s business remains the same in
all material respects. In order to resign for Good Reason, you must provide written notice of the condition giving rise to Good
Reason to the Board within thirty (30) days after the initial occurrence of the condition, allow the Company thirty (30) days to
cure such condition, and if the Company fails to cure the condition within such period, your resignation must be effective not
later than ten (10) days after the end of the Company’s cure period. For purposes of this letter agreement, if the requirements
of the immediately preceding sentence are not fully satisfied on a timely basis, then your resignation from the employ of the Company
shall not be deemed to have been for “Good Reason,” you shall not be entitled to any of the benefits to which you would
have been entitled if you had resigned from the employ of the Company for “Good Reason,” and the Company shall not
be required to pay any amount or provide any benefit that would otherwise have been due to you had you resigned for “Good
Reason.”

 

		13.	Assignment. The Company may assign this Agreement to any person or entity, including, but not limited to, any
successor, parent, subsidiary or affiliated entity of the Company. The Company also may assign this Agreement in connection with
any sale, reorganization, consolidation or merger (whether of stock or assets or otherwise) of the Company or the business of the
Company. You expressly consent to the assignment of the restrictions and requirements set forth in the Confidential Disclosure
Agreement to any new owner of the Company’s business or purchaser of the Company. You may not assign, pledge, or encumber
their interest in this Agreement, or any part thereof, without the written consent of the Company, and any attempt do so without
such consent is null and void. This letter agreement shall inure to the benefit of and be binding upon you and the Company, and each of its
respective successors, executors, administrators, heirs and permitted assigns.

 

    5 

     

    

 

		14.	Counterparts. This letter agreement may be executed in one or more counterparts, both of which shall be considered
one and the same agreement and shall become a binding agreement when one or more counterparts have been signed by each party and
delivered to the other party. Any executed counterpart of this letter agreement may be delivered by facsimile or electronic transmission
with the same effect as if delivered personally.

 

(Signature page follows.)

 

    6 

     

    

 

To indicate your acceptance
of this letter agreement, please sign and date this letter agreement in the spaces provided below. Again, let me indicate how pleased
we all are to extend this offer and how much we look forward to working with you.

 

	 	Sincerely,
	 	 
	 	IMMUNOME, INC.
	 	 
	 	By:	/s/
    Philip Wagenheim
	 	Name: Philip Wagenheim
	 	Title: Secretary

 

	Accepted and agreed:	 
	 	 
	/s/
    Purnanand Sarma, PhD	 
	Purnanand Sarma, PhD	 
	 	 
	Date: May 30, 2019	 

 

(Signature Page to Immunome, Inc. Employment Offer - Purnanand Sarma)

     

     

    

 

EXHIBIT
A

Business and Professional Activities 

 

		·	Independent Director, Ohm Oncology (www.ohmonco.com)

 

		·	Independent Director, Vaxess Technologies, Inc. (www.vaxess.com)

 

    A-1

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