Document:

Exhibit 10.1

 

AMENDMENT
TO cONSULTING AGREEMENT

THIS AMENDMENT
TO CONSULTING AGREEMENT, dated as of August 30, 2020, between FlexShopper, Inc., a Delaware corporation (the “Company”),
and XLR8 Capital Partners, LLC (the “Consultant”).

W
I T N E S S E T H:

WHEREAS, the
parties hereto previously entered into a Consulting Agreement, dated as of February 19, 2019 (the “Consulting Agreement”),
pursuant to which the Consultant agreed to provide to the Company advice on retailer partnerships, management consulting and mentoring
services, marketing consulting, and call center and collection optimization related to both lease-to-own and loan products during
an initial term from March 1, 2019 to February 28, 2020, in consideration for monthly compensation originally consisting of the
payment of cash and issuance of warrants by the Company;

WHEREAS, the
Consulting Agreement was amended by the parties in March 2020 to extend the term of the Consulting Agreement for an additional
six months through August 31, 2020 and to eliminate the monthly cash compensation component previously provided in Section 3(a)
thereof; and

WHEREAS, the
Company and the Consultant wish to again extend the term of the Consulting Agreement and make certain other amendments with regard
to the compensation and termination provisions included in the Consulting Agreement;

NOW, THEREFORE,
the parties hereto hereby agree that the Consulting Agreement be amended as follows:

1.             Definitions;
references; continuation of Consulting Agreement. Unless otherwise specified herein, each term used herein that is defined
in the Consulting Agreement shall have the meaning assigned to such term in the Consulting Agreement. Each reference to “hereof,”
“hereto,” “hereunder,” “herein” and “hereby,” and each other similar reference,
and each reference to “this Agreement” and each other similar reference, contained in the Consulting Agreement shall
from and after the date hereof refer to the Consulting Agreement as amended hereby. Except as amended hereby, all terms and provisions
of the Consulting Agreement shall continue and remain in full force and effect.

2.              Consulting Engagement; Term. The second sentence of Section 1 of the Consulting Agreement shall be amended
to state that the Term, as amended hereby, shall be extended to commence on September 1, 2020 and, unless sooner terminated as
provided in the Consulting Agreement, shall continue until February 28, 2021 (the “primary term”). In addition, the
Consulting Agreement, without any action by either of the parties hereto, shall be automatically renewed for one successive six-month
period thereafter unless otherwise terminated by the Company (based on the affirmative votes of a majority of the Company’s
disinterested directors) by giving the Consultant written notice to such effect at least 30 days prior to the expiration of the
primary term.

3.              Compensation. With
regard to the warrants issuable by the Company to the Consultant as compensation, Section 3(b) of the Consulting Agreement
shall be amended to replace the $1.25 alternative minimum strike price per share of the Warrants in the fourth line thereof
with a higher minimum strike price equal to $1.60 per share. In addition, in the second sentence of paragraph 3(b), the
Warrants issued under the terms of this Amendment will each expire on such date that is four years after the last trading
day of the calendar month relating to the applicable monthly Warrant issuance.

    

     

    

 

4.              Termination. Clause (a) of Section 4 shall be restated to state that either party may terminate the Consulting Agreement
for any or no reason by giving at least 30 days’ prior written notice to the other party of its intention to terminate the
Consulting Agreement, which notice shall specify the effective date of such termination. A termination of the Consulting Agreement
by the Company shall be based on the affirmative votes of a majority of the Company’s disinterested directors.

5.            
Governing Law. This Amendment shall be governed by and construed under the laws of the State of Delaware without
regard to conflicts of laws principles that would require the application of any other law.

6.              Counterparts. This Amendment may be executed in counterparts, all of which shall be one, and the same, agreement

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed as of the date first above written.

	 	FLEXSHOPPER, INC.
	 	 
	 	By: 	/s/ R. R. House, Jr.
	 	 	Name: R. R. House, Jr.
	 	 	Title:   CEO
	 	 	 
	 	XRL8 CAPITAL PARTNERS LLC
	 	 	 
	 	By:	/s/ Howard Dvorkin
	 	 	Name: Howard Dvorkin
	 	 	Title:   ManagerExhibit 4.1 

 

FORM OF WARRANT

 

THIS WARRANT AND
THE SHARES OF COMMON STOCK ISSUED UPON ITS

	 	EXERCISE ARE SUBJECT TO THE RESTRICTIONS ON	 
	 	TRANSFER SET FORTH IN SECTION 5 OF THIS WARRANT	 

 

	Warrant No. CS-[●]	Number of Shares: [●]
	 	(subject to adjustment)
	Date of Issuance: [●], 20201	 
	 	 
	Original Issue Date (as defined in subsection 2(a)): [●], 20202	 

 

Entasis Therapeutics Holdings Inc.

 

Common Stock Purchase Warrant

 

(Void after [●], [2025])3

 

Entasis Therapeutics Holdings Inc., a Delaware
corporation (the “Company”), for value received, hereby certifies that [●], or its registered assigns
(the “Registered Holder”), is entitled, subject to the terms and conditions set forth below, to purchase from
the Company, at any time or from time to time on or after the date of issuance and on or before 5:00 p.m. (New York City time)
on [●], [2025]4 shares of Common Stock, $0.001
par value per share, of the Company (“Common Stock”), at a purchase price of $[●] per share. The shares
purchasable upon exercise of this Warrant, and the purchase price per share, each as adjusted from time to time pursuant to the
provisions of this Warrant, are hereinafter referred to as the “Warrant Shares” and the “Purchase Price,”
respectively. This Warrant is one of the Warrants (the “Warrants”) issued pursuant to that certain Securities
Purchase Agreement, dated as of [●], 20205,
by and among the Company and each of the investors party thereto (the “Purchase Agreement”). Capitalized terms
used herein have the respective meanings ascribed thereto in the Purchase Agreement unless otherwise defined herein.

 

1. Exercise.

 

(a)  Exercise for Cash. Subject
to the limitations set forth in Section 1(e), the Registered Holder may elect to exercise this Warrant, in whole or in part
and at any time or from time to time, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I
duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such other office or agency
as the Company may designate, accompanied by payment in full, in lawful money of the United States, of the Purchase Price payable
in respect of the number of Warrant Shares purchased upon such exercise.

 

(b)  Cashless Exercise. Subject
to the limitations set forth in Section 1(e), the Registered Holder may also elect to exercise this Warrant, in whole or
in part, on a cashless basis, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly
executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such other office or agency as
the Company may designate, by canceling a portion of this Warrant in payment of the Purchase Price payable in respect of the number
of Warrant Shares purchased upon such exercise. In the event of an exercise pursuant to this subsection 1(b), the number of Warrant
Shares issued to the Registered Holder shall be determined according to the following formula:

 

	 	[(A-B)*(X)]	 
	 	(A)	 

 

	 	Where:	 
	 	 	 
	 	A =	the VWAP on the Trading Day immediately preceding the date of such election;
	 	 	 
	 	B =	the Purchase Price then in effect; and
	 	 	 
	 	X =	the number of Warrant Shares for which this Warrant is being exercised (which shall include both the number of Warrant Shares issued to the Registered Holder and the number of Warrant Shares subject to the portion of the Warrant being cancelled in payment of the Purchase Price).

 

 

1
To be dated the “Closing Date” under the Securities Purchase Agreement

2
To be dated the “Closing Date” under the Securities Purchase Agreement

3
To be dated five years from the “Closing Date” under the Securities Purchase Agreement

4
To be dated five years from the “Closing Date” under the Securities Purchase Agreement

5
To be dated the “Signing Date” under the Securities Purchase Agreement

 

     

     

    

 

The “VWAP” means, for any date, the price
determined by the first of the following clauses that applies: (i) if the Common Stock is then listed on the Nasdaq Global
Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the New York Stock Exchange (such market, the “Trading
Market”), the daily volume-weighted average price of the Common Stock for such date (or the nearest preceding date) on
the Trading Market as reported by Bloomberg Financial L.P. (based on a “Trading Day” from 9:30 a.m. Eastern
Time to 4:02 p.m. Eastern Time); (ii) the volume-weighted average price of the Common Stock for such date (or the nearest
preceding date) on the OTC Bulletin Board; (iii) if the Common Stock is not then listed on a Trading Market or quoted on the
OTC Bulletin Board and if prices for the Common Stock are then reported in the “Pink Sheets” published by the Pink
Sheets, LLC (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
share of the Common Stock so reported; or (iv) in all other cases, the fair market value of a share of Common Stock as determined
by a good faith determination of the Company’s Board of Directors.

 

(c)  Exercise Date. Each exercise
of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant
shall have been surrendered to the Company as provided in subsection 1(a) or 1(b) above (the “Exercise Date”).
At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise
as provided in subsection 1(d) below shall be deemed to have become the holder or holders of record of the Warrant Shares
represented by such certificates.

 

(d)  Issuance Upon Exercise. As
soon as practicable after the exercise of this Warrant in whole or in part, and in any event within five (5) days thereafter,
the Company, at its expense, will cause to be issued in the name of, and delivered to, the Registered Holder, or as the Registered
Holder (upon payment by the Registered Holder of any applicable transfer taxes) may direct:

 

    	 	- 2 -	 

     

    

 

(i)  a certificate or certificates
for the number of full Warrant Shares to which the Registered Holder shall be entitled upon such exercise transmitted by the transfer
agent of the Company to the Registered Holder in electronic book entry form to the account of such Registered Holder or, upon request
of the Registered Holder, by physical delivery to the address specified by the Registered Holder, plus, in lieu of any fractional
share to which the Registered Holder would otherwise be entitled, cash in an amount determined pursuant to Section 3 hereof;
and

 

(ii)  in case such exercise is in part
only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the face or faces thereof for
the number of Warrant Shares equal (without giving effect to any adjustment therein) to the number of such shares called for on
the face of this Warrant minus the number of Warrant Shares for which this Warrant was so exercised (which, in the case of an exercise
pursuant to subsection 1(b), shall include both the number of Warrant Shares issued to the Registered Holder pursuant to such partial
exercise and the number of Warrant Shares subject to the portion of the Warrant being cancelled in payment of the Purchase Price).

 

(e)  [Limitations on Exercise.
Subject to the last sentence of this Section 1(e), the Company shall not effect the exercise of this Warrant, and the Registered
Holder shall not have the right to exercise this Warrant, to the extent that after giving effect to such exercise, such Registered
Holder (together with such Registered Holder’s Affiliates and any other Persons acting as a group together) would beneficially
own in excess of [9.999]%6 (the “Maximum
Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes
of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such Person and its Affiliates
shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination
of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the
remaining, unexercised portion of this Warrant beneficially owned by such Person and its Affiliates and (ii) exercise or
conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such Person
and its Affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to
a limitation on conversion or exercise analogous to the limitation contained herein. For purposes of this Warrant, in determining
the number of outstanding shares of Common Stock, the Registered Holder may rely on the number of outstanding shares of Common
Stock as reflected in (1) the Company’s most recent Form 10-K, Proxy Statement, Form 10-Q, Current Report
on Form 8-K or other public filing with the Securities and Exchange Commission, as the case may be, (2) a more recent
public announcement by the Company or (3) any other notice by the Company or the Company’s transfer agent setting forth
the number of shares of Common Stock outstanding. For any reason at any time, upon the written or oral request of the Registered
Holder, where such request indicates that it is being made pursuant to this Warrant, the Company shall within one (1) Trading
Day confirm orally and in writing to the Registered Holder the number of shares of Common Stock then outstanding. In any case,
the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Company, including the Warrants, by the Registered Holder and its Affiliates since the date as of which such number of
outstanding shares of Common Stock was reported. Upon delivery of a written notice to the Company, the Registered Holder may from
time to time increase or decrease the Maximum Percentage to any other percentage as specified in such notice; provided that in
no event shall such Maximum Percentage be increased to more than 19.99%; provided, further, that (i) any such
increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the
Company and (ii) any such increase or decrease will apply only to the Registered Holder and not to any other holder of Warrants.
For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage
shall not be deemed to be beneficially owned by the Registered Holder for any purpose including for purposes of Section 13(d) or
Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have
any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms
of this Section 1(e) to the extent necessary to correct this paragraph or any portion of this paragraph which may be
defective or inconsistent with the intended beneficial ownership limitation contained in this Section 1(e) or to make
changes or supplements necessary or desirable to properly give effect to such limitation. The limitations set forth in this Section 1(e) shall
not apply to exercises of this Warrant that occur prior to and expressly in connection with the Company’s consummation of
a Fundamental Transaction.]7

 

 

6
Insert Maximum Percentage as indicated on the Buyer’s signature page attached to the Securities Purchase Agreement.

 

    	 	- 3 -	 

     

    

 

(f)  [Notwithstanding anything to the
contrary contained herein[, including Section 1(e),] and subject to the last sentence of this Section 1[(f)], the Company
shall not effect any exercise of this Warrant, and the Registered Holder shall not be entitled to exercise this Warrant for a number
of Warrant Shares in excess of that number of Warrant Shares which, upon giving effect to such exercise, would cause (i) the
aggregate number of shares of Common Stock beneficially owned by the Registered Holder and its Affiliates and any other Persons
whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s for purposes of Section 13(d) of
the 1934 Act and the rules and regulations promulgated thereunder, including any “group” of which the Registered
Holder is a member, to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Company following
such exercise, or (ii) the combined voting power of the securities of the Company beneficially owned by the Registered Holder
and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s
for purposes of Section 13(d) of the 1934 Act to exceed 19.99% of the combined voting power of all of the securities
of the Company then outstanding following such exercise. For purposes of this Section 1[(f)], the aggregate number of shares
of Common Stock or voting securities beneficially owned by the Registered Holder and its Affiliates and any other Persons whose
beneficial ownership of Common Stock would be aggregated with the Registered Holder’s for purposes of Section 13(d) of
the 1934 Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination
is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (x) exercise of the remaining
unexercised and non-cancelled portion of this Warrant by the Registered Holder and (y) exercise or conversion of the unexercised,
non-converted or non-cancelled portion of any other securities of the Company that do not have voting power (including without
limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including
without limitation any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or
exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), is subject to a limitation
on conversion or exercise analogous to the limitation contained herein and is beneficially owned by the Registered Holder or any
of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s
for purposes of Section 13(d) of the 1934 Act. The limitations set forth in this Section 1[(f)] shall not apply
to exercises of this Warrant that occur prior to and expressly in connection with the Company’s consummation of a Fundamental
Transaction.]8

 

 

7 This section is not applicable to, and will not
be included in, the Warrants issued to Innoviva, Inc.

 

    	 	- 4 -	 

     

    

 

2. Adjustments.

 

(a)  Adjustment for Stock Splits and
Combinations. If the Company shall at any time or from time to time after the date on which this Warrant was first issued (or,
if this Warrant was issued upon partial exercise of, or in replacement of, another warrant of like tenor, then the date on which
such original warrant was first issued) (either such date being referred to as the “Original Issue Date”) effect
a subdivision of the outstanding Common Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately
decreased. If the Company shall at any time or from time to time after the Original Issue Date combine the outstanding shares of
Common Stock, the Purchase Price then in effect immediately before the combination shall be proportionately increased. Any adjustment
under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

(b)  Adjustment for Certain Dividends
and Distributions. In the event the Company at any time, or from time to time after the Original Issue Date shall make or issue,
or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable
in additional shares of Common Stock, then and in each such event the Purchase Price then in effect immediately before such event
shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of
business on such record date, by multiplying the Purchase Price then in effect by a fraction:

 

(1)  the numerator of which shall be
the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of
business on such record date, and

 

(2)  the denominator of which shall be
the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of
business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution;

 

provided, however, that if such record date shall
have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase
Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be
adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

 

 

8 To be added only for investors which would otherwise
acquire more than 19.99%. This paragraph is not applicable to, and will not be included in, the Warrants issued to Innoviva, Inc.

 

    	 	- 5 -	 

     

    

 

(c)  Adjustment in Number of Warrant
Shares. When any adjustment is required to be made in the Purchase Price pursuant to subsections 2(a) or 2(b), the
number of Warrant Shares purchasable upon the exercise of this Warrant shall be changed to the number determined by dividing (i) an
amount equal to the number of shares issuable upon the exercise of this Warrant immediately prior to such adjustment, multiplied
by the Purchase Price in effect immediately prior to such adjustment, by (ii) the Purchase Price in effect immediately after
such adjustment.

 

(d)  Other Dividends and Distributions.
In the event the Company at any time or from time to time after the Original Issue Date shall make or issue, or fix a record date
for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of
the Company (other than shares of Common Stock) or in cash or other property (other than regular cash dividends paid out of earnings
or earned surplus, determined in accordance with generally accepted accounting principles), then and in each such event provision
shall be made so that the Registered Holder shall receive the kind and amount of securities of the Company, cash or other property
which the Registered Holder would have been entitled to receive had this Warrant been exercised on the date of such event (or immediately
prior to the applicable record date therefor) and had the Registered Holder thereafter, during the period from the date of such
event to and including the Exercise Date, retained any such securities receivable during such period, giving application to all
adjustments called for during such period under this Section 2 with respect to the rights of the Registered Holder.

 

(e)  Adjustment for Reorganization.
If there shall occur any reorganization, recapitalization, reclassification, consolidation, merger or similar transaction involving
the Company in which the Common Stock is converted into or exchanged for securities, cash or other property (other than a transaction
covered by subsections 2(a), 2(b) or 2(d)) (collectively, a “Reorganization”), then, following such
Reorganization, the Registered Holder shall receive upon exercise hereof the kind and amount of securities, cash or other property
which the Registered Holder would have been entitled to receive pursuant to such Reorganization if such exercise had taken place
immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the Board) shall
be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Registered
Holder, to the end that the provisions set forth in this Section 2 (including provisions with respect to changes in and other
adjustments of the Purchase Price) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities,
cash or other property thereafter deliverable upon the exercise of this Warrant.

 

(f)  Fundamental
Transactions. If the Company shall enter into or be party to a Fundamental Transaction (as defined below) and (i) if
the successor entity is a publicly traded corporation whose common stock is quoted on or listed for trading on an Eligible Market
(as defined below), the successor entity shall assume in writing all of the obligations
of the Company under this Warrant pursuant to written agreements in customary form, including agreements to deliver to each Registered
Holder of Warrants in exchange for such Warrants a written instrument issued by the successor entity substantially similar in form
and substance to this Warrant and exercisable for a corresponding number of shares of capital stock equivalent to the shares of
Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this
Warrant) on or prior to the date of such Fundamental Transaction and (ii) if the successor entity is not a publicly traded
corporation whose common stock is quoted on or listed for trading on an Eligible Market, the successor entity shall assume in writing
all of the obligations of the Company under this Warrant pursuant to written agreements in customary form, including agreements
to deliver to each holder of Warrants in exchange for such Warrants a written instrument issued by the successor entity substantially
similar in form and substance to this Warrant exercisable for the consideration that would have been issuable in the Fundamental
Transaction in respect of the Warrant Shares had this Warrant been exercised immediately prior to the consummation of the Fundamental
Transaction. The provisions of this Section 2(f) shall apply similarly and equally to successive Fundamental Transactions
and shall be applied without regard to any limitations on the exercise of this Warrant. Notwithstanding the foregoing, in the event
of a Fundamental Transaction other than pursuant to clause (i) above, then, at the request of the Registered Holder delivered
before the 15th day after such Fundamental Transaction, the Company (or the successor entity) shall purchase this Warrant and all
other outstanding Warrants held by such Registered Holder by paying to such Registered Holder, within ten (10) business days
after such request (or, if later, on the effective date of the Fundamental Transaction), cash in an amount equal to the Black Scholes
Value (as defined below) of the remaining unexercised portion of each Warrant, as
applicable, on the date of such Fundamental Transaction. For the sake of clarity, such calculation shall assume full exercisability
of this Warrant.

 

    	 	- 6 -	 

     

    

 

“Black
Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg determined as of the day immediately following the public announcement of the applicable
Fundamental Transaction and reflecting (i) a risk-free interest rate corresponding to the U.S. Treasury rate for a period
equal to the remaining term of this Warrant as of such date of request and (ii) an expected volatility equal to 70%.

 

“Eligible
Market” means any of the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the
New York Stock Exchange (or any successors to any of the foregoing).

 

“Fundamental
Transaction” means that (A) the Company shall, directly or indirectly, in one or more related transactions, (i) consolidate
or merge with or into (whether or not the Company is the surviving corporation) another Person, or (ii) sell, assign, transfer,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company to another Person, or (iii) allow
another Person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding
shares of Common Stock (not including any shares of Common Stock held by the Person or Persons making or party to, or associated
or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (iv) consummate a stock purchase
agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or
scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common
Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock purchase agreement or other business combination) or (B) any
“person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the
1934 Act) is or shall become the “beneficial owner” (as defined in Rule 13d-3 under
the 1934 Act), directly or indirectly, of more than 50% of the aggregate ordinary
voting power represented by issued and outstanding Common Stock.

 

    	 	- 7 -	 

     

    

 

“Person” means an individual, a
limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity
and a government or any department or agency thereof.

 

(g)  Certificate as to Adjustments.
Upon the occurrence of each adjustment or readjustment of the Purchase Price pursuant to this Section 2, the Company at its
expense shall, as promptly as reasonably practicable but in any event not later than ten (10) days thereafter, compute such
adjustment or readjustment in accordance with the terms hereof and furnish to the Registered Holder a certificate setting forth
such adjustment or readjustment (including the kind and amount of securities, cash or other property for which this Warrant shall
be exercisable and the Purchase Price). The Company shall, as promptly as reasonably practicable after the written request at any
time of the Registered Holder (but in any event not later than ten (10) days thereafter), furnish or cause to be furnished
to the Registered Holder a certificate setting forth (i) the Purchase Price then in effect and (ii) the number of shares
of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the exercise of
this Warrant.

 

(h)  Calculations. All calculations
under this Section 2 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.

 

3. Fractional Shares. The Company
shall not be required upon the exercise of this Warrant to issue any fractional shares, but shall pay the value thereof to the
Registered Holder in cash on the basis of the VWAP used in connection with the calculation set forth in subsection 1(b) above
upon the applicable exercise.

 

4. Representations.

 

(a) The initial Registered
Holder represents and warrants to the Company as follows:

 

(i)  Investment. The Registered
Holder is acquiring the Warrant, and (if and when the Registered Holder exercises this Warrant) the Registered Holder will acquire
the Warrant Shares, for the Registered Holder’s own account for investment and not with a view to, or for sale in connection
with, any distribution thereof, nor with any present intention of distributing or selling the same; and the Registered Holder has
no present or contemplated agreement, undertaking, arrangement, obligation, indebtedness or commitment providing for the disposition
thereof.

 

(ii)  Accredited Investor. The
Registered Holder is an “accredited investor” as defined in Rule 501(a) under the 1933 Act.

 

(iii)  Experience. The Registered
Holder has made such inquiry concerning the Company and its business and personnel as the Registered Holder has deemed appropriate;
and the Registered Holder has sufficient knowledge and experience in finance and business that the Registered Holder is capable
of evaluating the risks and merits of the Registered Holder’s investment in the Company.

 

    	 	- 8 -	 

     

    

 

(b) The Company represents
and warrants to the Registered Holder as follows:

 

		(a)	The shares of Common Stock which may be issued upon the exercise of the Warrants represented by this Warrant will, upon issuance
and payment therefor of the amount at which such shares of Common Stock may at the time be purchased pursuant to the provisions
hereof (including pursuant to a cashless exercise), be validly issued, fully paid and non-assessable and in each case, be free
and clear of any liens;

 

		(b)	The Company shall use its commercially reasonable efforts to maintain a listing of its Common Stock on the Nasdaq Global Market
or other Eligible Market, provided that nothing contained in this clause (c) shall be construed to limit (or to limit) the
right of the Company to engage in a transaction that may result in it ceasing to be so listed;

 

		(c)	The Company has taken and will take all such actions as may be reasonably necessary and as are within its power to ensure that
all those shares of Common Stock and Warrants issued or issuable pursuant to this Warrant may be so issued without violation of
applicable securities laws; and

 

		(d)	The Company will promptly advise the Registered Holder of any defaults under this Warrant.

 

5. Transfers, etc.

 

(a)  This Warrant and the Warrant Shares
shall not be sold or transferred unless either (i) they first shall have been registered under the Act, or (ii) the Company
first shall have been furnished with an opinion of legal counsel, reasonably satisfactory to the Company, to the effect that such
sale or transfer is exempt from the registration requirements of the Act.

 

(b)  The Registered Holder acknowledges
and agrees that the Warrant Shares shall be subject to the restrictive legend requirements set forth in the Purchase Agreement.

 

(c)  The Company will maintain a register
containing the name and address of the Registered Holder of this Warrant. The Registered Holder may change the Registered Holder’s
address as shown on the warrant register by written notice to the Company requesting such change.

 

(d)  Subject to the provisions of Section 5
hereof, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant with a properly
executed assignment (in the form of Exhibit II hereto) at the principal office of the Company (or, if another office
or agency has been designated by the Company for such purpose, then at such other office or agency).

 

    	 	- 9 -	 

     

    

 

6. Notices of Record Date, etc.
In the event:

 

(a)  the Company shall take a record
of the holders of its Common Stock (or other stock or securities at the time deliverable upon the exercise of this Warrant) for
the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for
or purchase any shares of stock of any class or any other securities, or to receive any other right; or

 

(b)  of any capital reorganization of
the Company, any reclassification of the Common Stock of the Company, any consolidation or merger of the Company with or into another
corporation (other than a consolidation or merger in which the Company is the surviving entity and its Common Stock is not converted
into or exchanged for any other securities or property), or any transfer of all or substantially all of the assets of the Company;
or

 

(c)  of the voluntary or involuntary
dissolution, liquidation or winding-up of the Company,

 

then, and in each such case, the Company will send or cause
to be sent to the Registered Holder a notice specifying, as the case may be, (i) the record date for such dividend, distribution
or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any
is to be fixed, as of which the holders of record of Common Stock (or such other stock or securities at the time deliverable upon
the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for
securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution,
liquidation or winding-up. Such notice shall be sent at least five (5) days prior to the record date or effective date for
the event specified in such notice, and the Registered Holder shall keep any such notice confidential.

 

7. Reservation of Stock. The Company
will at all times reserve and keep available, solely for issuance and delivery upon the exercise of this Warrant, such number of
Warrant Shares and other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this Warrant.
[Such reservation shall comply without regard to the provisions of [Section 1(e)] [and] [Section 1(f)].]

 

8. Exchange or Replacement of Warrants.

 

(a)  Upon the surrender by the Registered
Holder, properly endorsed, to the Company at the principal office of the Company, the Company will, subject to the provisions of
Section 5 hereof, issue and deliver to or upon the order of the Registered Holder, at the Company’s expense, a new Warrant
or Warrants of like tenor, in the name of the Registered Holder or as the Registered Holder (upon payment by the Registered Holder
of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces thereof for the number of shares of
Common Stock (or other securities, cash and/or property) then issuable upon exercise of this Warrant.

 

(b)  Upon receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction)
upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company,
or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new
Warrant of like tenor.

 

    	 	- 10 -	 

     

    

 

9. Notices. All notices and other
communications from the Company to the Registered Holder in connection herewith shall be mailed by certified or registered mail,
postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery, to the address
last furnished to the Company in writing by the Registered Holder. All notices and other communications from the Registered Holder
to the Company in connection herewith shall be mailed by certified or registered mail, postage prepaid, or sent via a reputable
nationwide overnight courier service guaranteeing next business day delivery, to the Company at its principal office set forth
below. If the Company should at any time change the location of its principal office to a place other than as set forth below,
it shall give prompt written notice to the Registered Holder and thereafter all references in this Warrant to the location of its
principal office at the particular time shall be as so specified in such notice. All such notices and communications shall be deemed
delivered (i) two (2) business days after being sent by certified or registered mail, return receipt requested, postage
prepaid, or (ii) one (1) business day after being sent via a reputable nationwide overnight courier service guaranteeing
next business day delivery.

 

10.            No
Rights as Stockholder. Until the exercise of this Warrant, the Registered Holder shall not have or exercise any rights by virtue
hereof as a stockholder of the Company. Notwithstanding the foregoing, in the event (i) the Company effects a split of the
Common Stock by means of a stock dividend and the Purchase Price of and the number of Warrant Shares are adjusted as of the date
of the distribution of the dividend (rather than as of the record date for such dividend), and (ii) the Registered Holder
exercises this Warrant between the record date and the distribution date for such stock dividend, the Registered Holder shall be
entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such
exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such
stock dividend.

 

11.            General.

 

(a) Amendment or Waiver. Any term
of this Warrant may be amended or waived only by an instrument in writing signed by the party against which enforcement of the
change or waiver is sought. No waivers of any term, condition or provision of this Warrant, in any one or more instances, shall
be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision.

 

(b) Section Headings. The
section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit or restrict the
contractual obligations of the parties.

 

(c) Governing Law; Trial by Jury.
This Warrant shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard
to the choice of law principles thereof that would result in the application of the laws of any other jurisdiction. The Company
and the Holder each hereby irrevocably agree to the exclusive jurisdiction of the courts of the State of New York located in New
York County and the United States District Court for the Southern District of New York for the purposes of any action or legal
proceeding arising out of this Warrant and the rights and obligations arising hereunder, and irrevocably and unconditionally waives
any objection to the laying of venue of any such action or legal proceeding in any such court, and further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such action or legal proceeding has been brought in an inconvenient
forum. Each party hereto hereby waives, to the fullest extent permitted by applicable Law,
any right it may have to a trial by jury in respect of any action or legal proceeding directly or indirectly arising out of, under
or in connection with this Warrant.

 

    	 	- 11 -	 

     

    

 

(d) Successors and Assigns. This
Warrant Certificate and all of its provisions shall inure to the benefit of the Registered Holder, and its heirs, executors, administrators,
successors, legal representatives and assigns and shall be binding upon the Company and its successors and permitted assigns.

 

(e) Counterparts. This Warrant
may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one
and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant.

 

(f) Specific Performance. The
parties hereto acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Warrant
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties
hereto shall be entitled to an injunction or injunctions to prevent breaches or threatened breaches of this Warrant and to enforce
specifically the terms and provisions of this Warrant in any court of competent jurisdiction, in each case without proof of damages
or otherwise (and each party hereto hereby waives any requirement for the securing or posting of any bond in connection with such
remedy), this being in addition to any other remedy to which they are entitled at law or in equity. The parties hereto agree not
to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to law or inequitable for any reason, nor to
assert that a remedy of monetary damages would provide an adequate remedy.

 

(g) Severability. If any one or
more of the provisions or parts thereof contained in this Warrant Certificate should be or become invalid, illegal or unenforceable
in any respect in any jurisdiction, the remaining provisions or parts thereof contained herein shall be and shall be conclusively
deemed to be, as to such jurisdiction, severable therefrom and:

 

(i) the validity, legality or enforceability
of such remaining provisions or parts thereof shall not in any way be affected or impaired by the severance of the provisions or
parts thereof severed;

 

(ii) the invalidity, illegality or
unenforceability of any provision or part thereof contained in this Warrant in any jurisdiction shall not affect or impair such
provision or part thereof or any other provisions of this Warrant Certificate in any other jurisdiction; and

 

(iii) the Company and the Holder shall
negotiate in good faith to modify this Warrant Certificate so as to effect the original intent of the Company and the Holder as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated and the economic
benefits anticipated hereunder be as originally contemplated to the greatest extent possible.

 

[remainder of page intentionally left
blank]

 

    	 	- 12 -	 

     

    

 

EXECUTED as of the Date of Issuance indicated
above.

 

 

	 	ENTASIS THERAPEUTICS HOLDINGS INC.
	 	 
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	- 13 -	 

     

    

 

EXHIBIT I

 

PURCHASE FORM

 

	To:	 	 	Dated:	 

 

The undersigned, pursuant to the provisions
set forth in the attached Warrant (No. ___), hereby elects to purchase (check applicable box):

 

		 ̈	____ shares of the Common
Stock of Entasis Therapeutics Holdings Inc. covered by such Warrant; or

 

		 ̈	the maximum number of shares
of Common Stock covered by such Warrant pursuant to the cashless exercise procedure set forth in subsection 1(b).

 

The undersigned herewith makes payment of
the full purchase price for such shares at the price per share provided for in such Warrant. Such payment takes the form of (check
applicable box or boxes):

 

		 ̈	$______ in lawful money of the United States; and/or

 

		 ̈	the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula
set forth in subsection 1(b), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant
to the cashless exercise procedure set forth in subsection 1(b).

 

	 	Signature:	 
	 	Address:	 
	 	 	 

 

    	 	- 14 -	 

     

    

 

EXHIBIT II

 

ASSIGNMENT FORM

 

FOR VALUE RECEIVED, ________________________________________
hereby sells, assigns and transfers all of the rights of the undersigned under the attached Warrant (No. ____) with respect
to the number of shares of Common Stock of Entasis Therapeutics Holdings Inc. covered thereby set forth below, unto:

 

	Name of Assignee	Address	No. of Shares
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

	Dated:	 	 	Signature:	 
	 	 	 
	Signature Guaranteed:	 	 
	 	 	 
	By:	 	 	 

 

    	 	- 15 -

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