Document:

Exhibit 10.11

 

 

THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER RESTRICTIONS
ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

 

THE PURCHASE OF THE SECURITIES INVOLVES A HIGH
DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

 

SUBSCRIPTION AGREEMENT

 

This
Subscription Agreement (this “Agreement”) is entered into as of August 14, 2020 between Growth Capital Acquisition
Corp., a Delaware corporation (the “Company”) and HB Strategies LLC, a Delaware limited liability company (the
 “Purchaser”).

 

RECITALS

 

WHEREAS, the Company was incorporated
for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar
business combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company has confidentially
submitted to the U.S. Securities and Exchange Commission (the “SEC”) a draft registration statement on Form
S-1 (the “Registration Statement”) for its initial public offering (“IPO”) of units (the
 “Public Units”), at a price of $10.00 per Public Unit, each Public Unit comprised of one share of the Company’s
Class A common stock, par value $0.0001 per share (“Class A Common Stock”, and the shares of Class A Common
Stock included in the Public Units, the “Public Shares”), and one-half of one redeemable warrant, where each
whole warrant is initially exercisable to purchase one share of Class A Common Stock at an exercise price of $11.50 per share,
subject to adjustment (the “Warrants”, and the Warrants included in the Public Units, the “Public Warrants”);

 

WHEREAS, proceeds from the
IPO and the sale of the Private Placement Units (as defined below) in an aggregate amount equal to the aggregate gross proceeds
from the IPO will be deposited into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”),
as described in the Registration Statement;

 

WHEREAS, following the closing
of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS,
in connection with the IPO, the Purchaser will purchase, in a private placement that will close simultaneously with the IPO
Closing, 155,167 units (“Base Private Placement Units”), each Private Placement Unit consisting of one
share of Class A Common Stock and one-half of one warrant (“Private Placement Warrants”) (or 171,667
Private Placement Units if the underwriters’ over-allotment option is exercised in full; the additional Private
Placement Units to be purchased, the “Over-allotment Private Placement Units” and, together with the Base
Private Placement Units, the “Private Placement Units”) at a price of $10.00 per Private Placement Unit
for an aggregate purchase price of $1,551,670 (or up to $1,716,670 if the underwriters’ over-allotment option is
exercised in full). Such Private Placement Units shall be identical to the Public Units, subject to certain exceptions
described in the Registration Statement;

 

WHEREAS, the
parties wish to enter into this Agreement, pursuant to which the Purchaser shall subscribe for and purchase (i) 1,379,167
shares of Class B common stock, par value $0.0001 per share, of the Company (“Class B Shares” and
collectively with the shares of Class A Common Stock to be issued in the IPO, the “Common Stock”), of
which up to 187,500 Class B Shares shall be subject to forfeiture, for an aggregate purchase price of $2,043 (“Class
B Purchase Price”) as provided herein or as otherwise agreed, and (ii) the Private Placement Units (together with
the Class B Shares to be purchased by the Purchaser, the “Subscribed Securities”); and

 

     

     

    

 

WHEREAS, the Company and the
Purchaser intend for the purchase of Class B Shares and Private Placement Units as set forth herein to be made pursuant to Rule
506(c) of Regulation D promulgated under the Securities Act.

 

NOW, THEREFORE, in consideration
of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

1. Sale and Purchase.

 

(a) Securities.

 

(i) Subject to the terms and
conditions hereof, the Purchaser hereby irrevocably subscribes for and agrees to purchase from the Company, and the Company agrees
to issue and sell to the Purchaser, the Subscribed Securities, and any securities of the Company that may be distributed to the
Purchaser on account of the Subscribed Securities (collectively, the “Securities”), will be subject to restrictions
on transfer as set forth in this Agreement.

 

(ii) On the date hereof, against
payment in full of the Class B Purchase Price, the Company shall issue to the Purchaser 1,379,167 Class B Shares of which up to187,500
are subject to forfeiture in consideration for the Purchaser’s payment of the Class B Purchase Price, by wire transfer of
immediately available funds or other means approved by the Company.

 

(iii) Subject to the terms and
conditions hereof, the Purchaser hereby irrevocably subscribes for and agrees to purchase from the Company, and the Company agrees
to issue and sell to the Purchaser, Private Placement Units and, subject to the provisions set forth below, the Over-allotment
Private Placement Units, at a purchase price of $10.00 per Private Placement Unit (the amount to be paid by the Purchaser for the
Private Placement Units, the “PPU Purchase Price”),

 

(iv) The Company shall notify
the Purchaser in writing of the anticipated date of the effectiveness of the Registration Statement (the “Effective Date”)
at least three (3) Business Days (as defined below) prior to the Effective Date, and the Purchaser shall remit the PPU Purchase
Price to the Company’s transfer agent (to be held in escrow pending the IPO Closing), by wire transfer of immediately available
funds or other means approved by the Company, on the date that is not less than one (1) Business Day prior to the Effective Date,
or such other date as the Company and the Purchaser may agree upon in writing. As used herein, “Business Day”
means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally
authorized or required by law or regulation to close in the City of New York, New York, provided, however, for clarification, banking
institutions shall not be deemed to be authorized or required by law to remain closed due to “stay at home,” “shelter-in-place,”
 “non-essential employee” or any other similar orders or restrictions or the closure of any physical branch locations
at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers)
of banking institutions in the City of New York, New York generally are open for use by customers on such day. If the IPO Closing
has not occurred by the date that is ten (10) Business Days after Effective Date (or if the Effective Date has not occurred within
seven (7) Business Days after the Purchaser shall have transferred the PPU Purchase Price to the Company’s transfer agent,
then, unless the Purchaser otherwise agrees in writing, the Company will promptly cause its transfer agent to return the PPU Purchase
Price to the Purchaser.

 

(v) In the event that the
underwriters’ over-allotment option in connection with the IPO (the “Over-allotment Option”) is
exercised, the Purchaser agrees to purchase additional Over-allotment Private Placement Units at a price of $10.00 per
Private Placement Unit, at the rate of 733 Private Placement Units for each 100,000 Public Units (or fraction thereof) the
underwriters elect to purchase pursuant to the Over-allotment option. The Company shall notify the Purchaser in writing of
the anticipated date of each closing of the exercise of the Over-allotment Option, if any (each, an “Over-allotment
Closing”) at least three (3) Business Days prior to such Over-allotment Closing, and the Purchaser shall pay the
purchase price for the Private Placement Units to be purchased in connection with such Over-allotment Closing by wire
transfer of immediately available funds or other means approved by the Company on that date that is one (1) Business Day
prior to such Over-allotment Closing (to be held in escrow pending such Over-allotment Closing), or such other date as the
Company may agree upon in writing. If the Over- allotment Closing has not occurred by the date that is seven (7) Business
Days after the date on which the Purchaser remitted the purchase price for the Private Placement Units to be purchased in
connection with such Over-allotment Closing, then, unless the Company otherwise agrees in writing, the Company will promptly
cause its transfer agent to return such amounts to the Purchaser.

 

     

     

    

 

 

(vi) On the date of the IPO Closing, the Company
shall issue to the Purchaser 155,167 Base Private Placement Units. On the date of each Over-allotment Closing, if any, against
payment of the purchase price therefor, the Company shall issue to Purchaser the number of Over-Allotment Private Placement Units
set forth above.

 

(vii) The Purchaser acknowledges
that the Securities will be subject to restrictions on transfer as set forth in this Agreement or in the agreements referred to
herein.

 

(b) Delivery of Securities.

 

(i) The Company shall register
the Purchaser as the owner of the Subscribed Securities with the Company’s transfer agent by book entry on or prior to the
date of the IPO Closing (provided that prior to the Company’s appointment of a transfer agent it shall register the Purchaser
as the owner of such securities in the Company’s stock ledger upon issuance thereof).

 

(ii) Each
register and book entry for the Securities shall contain a notation, and each certificate (if any) evidencing the Securities shall
be stamped or otherwise imprinted with a legend, in substantially the following form:

 

“THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION,
AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS.

 

THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF
THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN SUBSCRIPTION AGREEMENT BY AND AMONG THE
HOLDER AND THE OTHER PARTIES THERETO. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

(c) Execution of Letter Agreement.
On the Effective Date, the Purchaser shall enter into a Letter Agreement (the “Insider Letter Agreement”) with
the Company and certain other parties thereto, in such form as may be required pursuant to the underwriting agreement in connection
with the IPO. The Insider Letter Agreement shall provide, among other matters, if the Company seeks stockholder approval of a proposed
Business Combination, the Purchaser shall vote any shares of Class B Common Stock or shares underlying the Private Placement Units
owned by it, in favor of any proposed Business Combination and not redeem any shares of Class B Common Stock or shares underlying
the Private Placement Units owned by it in connection with such stockholder approval.

 

(d) Registration Rights.
On the Effective Date, the Company shall enter into a Registration Rights Agreement (the “Registration Rights Agreement”)
with the Purchaser and certain other parties thereto, in substantially the form provided to the Purchaser prior to the date hereof.
The Registration Rights Agreement shall provide the Purchaser with registration rights with respect to (i) the Securities that
are no less favorable to the Purchaser than the registration rights any other holder of Securities set forth therein and (ii) any
Public Units (including the shares of Class A Common Stock and warrants included in the Public Units) acquired by the Purchaser
in the IPO, if the Purchaser is an affiliate of the Company following the IPO.

 

     

     

    

 

2.
Representations and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as of
the date hereof:

 

(a) Organization and Power.
The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation and
has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b) Authorization. The
Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed and delivered by the
Purchaser, will constitute the valid and legally binding obligation of the Purchaser, enforceable against the Purchaser in
accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance and any other laws of general application affecting enforcement of creditors’ rights generally or (ii) as
limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

 

(c) Governmental Consents and
Filings. No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing
with, any federal, state or local governmental authority is required on the part of the Purchaser in connection with the consummation
of the transactions contemplated by this Agreement, except for filings pursuant to applicable securities laws, rules or regulations.

 

(d) Compliance
with Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and the consummation
by the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default (i) under any
provisions of its organizational documents, (ii) under any instrument, judgment, order, writ or decree to which it is a party
or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is bound, (iv)
under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) under any
provision of federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)),
which would have a material adverse effect on the Purchaser’s ability to consummate the transactions contemplated by
this Agreement.

 

(e) Purchase Entirely for
Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to the Company,
which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that the Securities to be acquired by
the Purchaser will be acquired for investment for the Purchaser’s own account, not as a nominee or agent, and not with a
view to the resale or distribution of any part thereof in violation of any state or federal securities laws, and that the Purchaser
has no present intention of selling, granting any participation in, or otherwise distributing the same in violation of law. By
executing this Agreement, the Purchaser further represents that the Purchaser does not presently have any contract, undertaking,
agreement or arrangement with any Person (other than the Company) to sell, transfer or grant participations to such Person or to
any third Person, with respect to any of the Securities. For purposes of this Agreement, “Person” means an individual,
a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other
entity or any government or any department or agency thereof.

 

(f) Disclosure of Information.
The Purchaser has had an opportunity to discuss the Company’s business, management, financial affairs and the terms and conditions
of the offering of the Securities, as well as the terms of the Company’s proposed IPO, with the Company’s management.

 

(g) Restricted
Securities. The Purchaser understands that the offer and sale of the Securities to the Purchaser has not been and will
not be registered under the Securities Act, by reason of a specific exemption from the registration provisions of the
Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the
Purchaser’s representations as expressed herein. The Purchaser understands that the Securities are “restricted
securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser
must hold the Securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an
exemption from such registration and qualification requirements is available. The Purchaser acknowledges that the Company has
no obligation to register or qualify the Securities except pursuant to the Registration Rights Agreement. The Purchaser
further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various
requirements including, but not limited to, the time and manner of sale, the holding period for the Securities, and on
requirements relating to the Company which are outside of the Purchaser’s control, and which the Company is under no
obligation and may not be able to satisfy. The Purchaser acknowledges that the Company has confidentially submitted the
Registration Statement for its proposed IPO. The Purchaser understands that the offering of Securities and transactions
contemplated hereunder are not and are not intended to be part of the IPO, and that the Purchaser will not be able to rely on
the protection of Section 11 of the Securities Act with respect to its purchase of Securities hereunder.

 

     

     

    

 

(h) No Public Market. The Purchaser
understands that no public market now exists for the Securities, and that the Company has not made any assurances that a
public market will ever exist for the Securities.

 

(i) High Degree of Risk.
The Purchaser understands that the purchase of the Subscribed Securities involves a high degree of risk which could cause the Purchaser
to lose all or part of its investment.

 

(j) Accredited
Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the
Securities Act.

 

(k) No General Solicitation.
Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners has either directly or indirectly,
including, through a broker or finder (i) to its knowledge, engaged in any general solicitation, or (ii) published any advertisement
in connection with the offer and sale of the Securities.

 

(l) Adequacy of Financing.
The Purchaser will, when such funds are due hereunder, have sufficient funds to satisfy its obligations under this Agreement.

 

(m) No Other
Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this Section
3 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person acting on behalf of
the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes or
shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser and this
offering, and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations and
warranties expressly made by the Company in Section 4 of this Agreement and in any certificate or agreement delivered
pursuant hereto, the Purchaser Parties specifically disclaim that they are relying upon any other representations or
warranties that may have been made by the Company, any person on behalf of the Company or any of the Company’s
affiliates (collectively, the “Company Parties”) with respect to the transactions contemplated hereby.

 

3. Representations, Warranties
and Covenants of the Company. The Company represents, warrants and covenants to the Purchaser as follows:

 

(a) Organization and Corporate
Power. The Company is incorporated and validly existing and in good standing as a corporation under the laws of Delaware and
has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted.

 

(b) Capitalization.
The authorized share capital of the Company consists, as of the date hereof, of:

 

(i) 100,000,000 shares of Class A Common Stock, none of which
are issued and outstanding;

 

(ii) 10,000,000 Class B Shares,
4,312,500 of which are issued and outstanding. All of the outstanding Class B Shares have been duly authorized, are fully paid
and nonassessable and were issued in compliance with all applicable federal and state securities laws; and

 

(iii) 1,000,000 shares of preferred stock, none of
which are issued and outstanding.

 

(c) Authorization. All
corporate action required to be taken by the Company’s Board of Directors and stockholders in order to authorize the
Company to enter into this Agreement, and to issue the Subscribed Securities and to carry out the other transactions
contemplated hereby, has been taken on or prior to the date hereof. All action on the part of the stockholders, directors and
officers of the Company necessary for the execution and delivery of this Agreement, the performance of all obligations of the
Company under this Agreement, and the issuance and delivery of the Subscribed Securities has been taken on or prior to the
date hereof. This Agreement, when executed and delivered by the Company, shall constitute the valid and legally binding
obligation of the Company, enforceable against the Company in accordance with its terms except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to
or affecting the enforcement of creditors’ rights generally or (ii) as limited by laws relating to the availability of
specific performance, injunctive relief, or other equitable remedies.

 

     

     

    

 

(d) Valid Issuance of Securities.

 

(i) The Subscribed Securities,
when issued, sold and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be
validly issued and fully paid, as applicable, and free of all preemptive or similar rights, taxes, liens, encumbrances and
charges with respect to the issue thereof and restrictions on transfer other than restrictions on transfer specified under
this Agreement, applicable state and federal securities laws and liens or encumbrances created by or imposed by the
Purchaser. Assuming the accuracy of the representations of the Purchaser in this Agreement and subject to the filings
described in Section 4(e) below, the Subscribed Securities will be issued in compliance with all applicable federal
and state securities laws, rules and regulations.

 

(ii) No “bad
actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification
Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person (as defined
below), except for a Disqualification Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable.
 “Company Covered Person” means, with respect to the Company as an “issuer” for purposes of
Rule 506 promulgated under the Securities Act, any Person listed in the first paragraph of Rule 506(d)(1).

 

(e) IPO.

 

(i) The Company has provided
to the Purchaser, and will at all times prior to the consummation of the IPO promptly provide to the Purchaser, copies of all correspondence
sent by the Company to, or received by the Company from, the SEC.

 

(ii) The offers and sales of
securities in the IPO will be made pursuant to an effective Registration Statement and otherwise in compliance with the Securities
Act and the rules and regulations promulgated thereunder and applicable state securities laws, rules and regulations.

 

(f) Governmental Consents
and Filings. Assuming the accuracy of the representations made by the Purchaser in this Agreement, no consent, approval, order
or authorization of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental
authority is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement,
except for filings pursuant to Regulation D of the Securities Act and applicable state securities laws, if any.

 

(g) Compliance
with Other Instruments. The execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated by this Agreement will not result in any violation or default (i) under any provisions of the
certificate of incorporation, bylaws or other governing documents of the Company, (ii) under any instrument, judgment, order,
writ or decree to which the Company is a party or by which it is bound, (iii) under any note, indenture or mortgage to which
the Company is a party or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which the
Company is a party or by which it is bound or (v) under any provision of federal or state statute, rule or regulation
applicable to the Company, in each case (other than clause (i)) which would have a material adverse effect on the Company or
its ability to consummate the transactions contemplated by this Agreement.

 

(h) Operations. As of the
date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not conduct, any operations other than
organizational activities and activities in connection with offerings of the Securities.

 

     

     

    

 

(i) Foreign
Corrupt Practices. Neither the Company, nor any director, officer, agent, employee or other Person acting on behalf of
the Company has, in the course of its actions for, or on behalf of, the Company (i) used any corporate funds for any unlawful
contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in
violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful bribe,
rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or
employee.

 

(j) Compliance with Anti-Money Laundering
Laws. The operations of the Company are and have been conducted at all times in compliance with applicable financial recordkeeping
and reporting requirements and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, but
not limited to, those of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the USA Patriot Act of 2001 and
the applicable money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related
or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body
or any arbitrator involving the Company with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company,
threatened.

 

(k) Absence of
Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or
affecting the Company or any of the Company’s officers or directors, whether of a civil or criminal nature or
otherwise, in their capacities as such.

 

(l) No
General Solicitation. Neither the Company, nor any of its officers, managers, employees, agents or members has either directly
or indirectly, including, through a broker or finder (i) engaged in any general solicitation or (ii) published any advertisement
in connection with the offer and sale of the Subscribed Securities.

 

(m) Non-Public Information.
The Company represents and warrants that none of the information conveyed to the Purchaser in connection with the transactions
contemplated by this Agreement will constitute material non-public information of the Company upon the effectiveness of the Registration
Statement.

 

(n) No Other Representations
and Warranties; Non-Reliance. Except for the specific representations and warranties contained in this Section 4 and
in any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes or shall be deemed to make
any other express or implied representation or warranty with respect to the Company or the offering of Securities hereunder, and
the Company Parties disclaim any such representation or warranty. Except for the specific representations and warranties expressly
made by the Purchaser in Section 3 of this Agreement and in any certificate or agreement delivered pursuant hereto, the
Company Parties specifically disclaim that they are relying upon any other representations or warranties that may have been made
by the Purchaser Parties.

 

     

     

    

 

4. Additional Agreements and Acknowledgements of
the Purchaser.

 

(a) Transfer
Restrictions The Purchaser agrees that it shall not Transfer (as defined below) (i) any Class B Shares until the earlier
of (A) six months after the closing of the Business Combination (the “Business Combination Closing”) and
(B) the date following the Business Combination Closing on which the Company completes a liquidation, merger, stock exchange
or other similar transaction that results in all of the Company’s stockholders having the right to exchange their
Common Stock for cash, securities or other property (such period, the “Lock-up Period”) or (ii) any
Private Placement Units (or securities issuable upon exercise of the Private Placement Warrants) until 30 days after the
Business Combination Closing. Notwithstanding the foregoing, if subsequent to a Business Combination, the closing price of
the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations,
recapitalizations and the like) for any twenty (20) trading days within any thirty (30) trading day period commencing at
least sixty (60) days after the Business Combination Closing, the Class B Shares shall be released from the lockup referenced
in this Section 4(a). Notwithstanding the first sentence hereinabove, transfers of the Securities are permitted (i) to
the Company’s officers or directors, any affiliates or family members of the Company’s officers or directors, any
affiliate or member of the sponsor or other initial stockholders of the Company, or any of such affiliate’s or
member’s affiliates, officers, directors and director or individual’s immediate family, to a trust, the
beneficiary of which is a member of the individual’s immediate family or an affiliate of such person or to a charitable
organization; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual;
(iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) in the case of an entity, as a
distribution to its partners, stockholders or members upon liquidation; (vi) by private sales or transfers made in connection
with the consummation of a Business Combination at prices no greater than the price at which the applicable Securities were
originally purchased; (vii) in the event of the Company’s liquidation, bankruptcy or dissolution prior to the
completion of a Business Combination; (viii) by virtue of the laws of Delaware or the Purchaser’s limited liability
company agreement upon dissolution of the Purchaser; (ix) to a nominee or custodian of a person or entity to whom a
disposition or transfer would be permissible under clauses (i) through (viii) above; and (x) pursuant to the provisions of Section
2 of this Agreement (each of the foregoing, a “Permitted Transferee”); provided, however, that in the
case of clauses (i) through (vii), and (ix), these Permitted Transferees must enter into a written agreement agreeing to be
bound by the terms of this Agreement, whereupon such Permitted Transferee will be treated as a Purchaser for all purposes of
this Agreement, with the same rights, benefits and obligations of the Purchaser hereunder, including the provisions of Section
2 and these transfer restrictions. As used in this Agreement, “Transfer” shall mean the (x) sale of,
offer to sell, contract or agreement to sell, hypothecation, pledge, grant of any option to purchase or otherwise dispose of
or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation
with respect to or decrease of a call equivalent position (within the meaning of Section 16 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder)
with respect to, any of the Securities; (y) entry into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of any of the Securities, whether any such transaction is to be
settled by delivery of such Securities, in cash or otherwise, or (z) public announcement of any intention to effect any
transaction specified in clause (x) or (y). For the avoidance of doubt, the restrictions contained in this Section 4(a) shall
apply only to Transfers by the Purchaser of Securities acquired by the Purchaser pursuant to this Agreement, and nothing
contained in this Section 4(a) shall prohibit the Purchaser from Transferring any securities of the Company acquired in the
open market, privately negotiated transactions, or otherwise not pursuant to this Agreement.

 

(b) Trust Account.

 

(i) The Purchaser hereby
acknowledges that it is aware that the Company will establish the Trust Account for the benefit of its public stockholders
upon the IPO Closing. The Purchaser hereby agrees that, solely with respect to the Class B Shares and Class A Shares
underlying the Private Placement Units held by the Purchaser, it has no right, title, interest or claim of any kind in or to
any monies held in the Trust Account, as a result of any liquidation of the Company. The foregoing acknowledgement shall not
affect any rights, including redemption and liquidation rights, if any, the Purchaser may have in respect of any Public
Shares held by it.

 

(ii) The Purchaser hereby agrees
that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to
any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may
have now or in the future, except for redemption, liquidation, and other rights, if any, the Purchaser may have in respect of any
Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser shall
pursue such Claim solely against the Company and its assets outside the Trust Account and not against the property or any monies
in the Trust Account, except for redemption, liquidation, and other rights, if any, the Purchaser may have in respect of any Public
Shares held by it.

 

5. General Provisions.

 

(a) Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when sent, if sent by electronic
mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal business hours, then on
the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered or certified mail,
return receipt requested, postage prepaid, or (iv) one (1) Business Day after deposit with a nationally recognized overnight courier,
freight prepaid, specifying next Business Day delivery, with written verification of receipt. All communications sent to the Company
shall be sent to: Growth Capital Acquisition Corp. c/o Maxim Group LLC, The Chrysler Building, 405 Lexington Ave, New York, NY
10174, Attention: George Syllantavos, Email: gs@stellaracquisition.com, with a copy to Ellenoff Grossman & Schole LLP, 1345
Avenue of the Americas, 11th Floor, New York, NY 10105, Attention: Jeffrey Rubin, Email: jrubin@egsllp.com.

 

     

     

    

 

All communications
to the Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereto, or to such email address,
facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 5(a).

 

(b) No Finder’s Fees.
Each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this
transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending
against such liability or asserted liability) for which the Purchaser or any of its officers, employees or representatives are
responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability for any commission or compensation
in the nature of a finder’s or broker’s fee arising out of this transaction (and the costs and expenses of defending
against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

 

(c) Survival of Representations
and Warranties. All of the representations and warranties contained herein shall survive the consummation of the transactions
contemplated by this Agreement.

 

(d) Entire Agreement.
This Agreement, together with any other documents, instruments and writings that are delivered pursuant hereto or referenced herein,
constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any
way to the subject matter hereof or the transactions contemplated hereby.

 

(e) Successors. All of
the terms, agreements, covenants, representations, warranties, and conditions of this Agreement are binding upon, and inure to
the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(f) Assignments. Except
as otherwise specifically provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or
obligations hereunder without the prior written approval of the other party.

 

(g) Counterparts. This
Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will
constitute one and the same instrument.

 

(h) Headings. The section
headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation
of this Agreement.

 

(i) Governing Law. This
Agreement, the entire relationship of the parties hereto, and any litigation between the parties (whether grounded in contract,
tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State
of New York, without giving effect to its choice of laws principles.

 

(j) Jurisdiction. The
parties hereby irrevocably and unconditionally (i) submit to the jurisdiction of the state courts of New York and the United
States District Court for the Southern District of New York for the purpose of any suit, action or other proceeding arising
out of or based upon this Agreement, (ii) agree not to commence any suit, action or other proceeding arising out of or based
upon this Agreement except in state courts of New York or the United States District Court for the Southern District of New
York, and (iii) waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or
proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is
exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that
the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be
enforced in or by such court.

 

     

     

    

 

(k) WAIVER OF JURY TRIAL.
THE PARTIES HERETO HEREBY WAIVE ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY LITIGATION PURSUANT TO THIS AGREEMENT AND THE
TRANSACTIONS CONTEMPLATED HEREBY.

 

(l) Amendments. This
Agreement may not be amended, modified or waived as to any particular provision, except with the prior written consent of the Company
and the Purchaser.

 

(m) Severability. The
provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the
validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any
party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or mediator not to be enforceable in
accordance with its terms, the parties hereto agree that the governmental authority, arbitrator, or mediator making such determination
will have the power to modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced.

 

(n) Expenses. Each of the
Company and the Purchaser will bear its own costs and expenses incurred in connection with the preparation, execution and performance
of this Agreement and the consummation of the transactions contemplated hereby, including all fees and expenses of agents, representatives,
financial advisors, legal counsel and accountants. The Company shall be responsible for the fees of its transfer agent, stamp taxes
and all other fees associated with the issuance of the Securities and the securities issuable upon conversion or exercise of the
Securities.

 

(o) Construction. The parties
hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will
arise favoring or disfavoring any party hereto because of the authorship of any provision of this Agreement. Any reference to any
federal, state, local, or foreign law will be deemed also to refer to law as amended and all rules and regulations promulgated
thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be
construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless
the context otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,”
 “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless
expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact
that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative
levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party hereto
is in breach of the first representation, warranty, or covenant.

 

(p) Waiver. No waiver
by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder, whether intentional or not,
may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or affect
in any way any rights arising because of any prior or subsequent occurrence.

 

(q) Specific Performance.
Each party hereto agrees that irreparable damage may occur in the event any provision of this Agreement was not performed by the
other party hereto in accordance with the terms hereof and that the such party shall be entitled to specific performance of the
terms hereof, in addition to any other remedy at law or equity.

 

(r) Most Favored Nation.
With regard to the securities offered hereby and other rights provided to the Purchaser hereby, the Company has not provided, and
shall not provide, to any existing or future investors, contract terms, rights or benefits more favorable, in form or substance,
than those provided to the Purchaser unless, in any such case, the Purchaser has been provided with such rights and benefits.

 

     

     

    

 

(s) Right to Participate.
In the event that the Company conducts equity or debt financing subsequent to the date hereof, the Purchaser shall have the right
to participate in such financing with terms, rights or benefits that are not less favorable , in form or substance, than any other
investors participating in the same transaction.

 

 

[Signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Agreement to be effective as of the date first set forth above.

 

COMPANY:

 

GROWTH
CAPITAL ACQUISITION CORP.

 

 

By:
     /s/ George Syllantavos                       

Name:
George Syllantavos

Title:   co-CEO

 

[Signature Page to Subscription Agreement]

 

     

     

    

 

	 	PURCHASER:	 
	 	 	 	 
	 	HB Strategies LLC	 
	 	 	 	 
	 	 	 	 
	 	By:	   /s/ George Antonopoulos	 
	 	Name: George Antonopoulos	 
	 	Title:   Authorized Signatory	 

 

Authorized Signatory

Hudson Bay Capital Management LP

not individually, but solely as

Investment Advisor to HB Strategies LLC

 

	 	Purchaser’s
    Address for Notices:
	 	C/o Hudson Bay Capital Management LP
	 	777 Third Avenue, 30th Floor
	 	New York, NY 10017
	 	 	 
	 	with copies to: 	Seward & Kissel LLP
	 	 	One Battery Park Plaza, 19th Floor
	 	 	New York, NY 10004
	 	 	Attention: Edward S. Horton
	 	 	Email: horton@sewkis.com

 

[Signature Page to Subscription Agreement]Exhibit 10.8

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT
(this “Agreement”) effective as of September 10, 2020 (“Effective Date”) is by and between Virios Therapeutics,
LLC, an Alabama limited liability company (“Company”), and R. Michael Gendreau, M.D., Ph.D. (“Employee”). The
Company and Employee are collectively referred to herein as the “Parties” and each individually as a “Party”.

 

WITNESSETH

 

WHEREAS, the Company
and Employee desire to formalize the employment relationship between the Parties by entering into this Agreement;

 

WHEREAS, the Company’s
Board of Directors (the “Board”) has approved this Agreement; and

 

WHEREAS, Employee has
determined that it is in the best interests of Employee to enter into this Agreement,

 

NOW, THEREFORE, in
consideration of the premises, the promises hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by the Parties, it is hereby agreed as follows:

 

1.           EMPLOYMENT.

 

(a)               
Position. The Company hereby employs Employee in the position of Chief Medical Officer, upon the terms stated herein,,
and Employee hereby accepts such employment.

 

(b)               
Employment Period. Employee’s employment hereunder shall commence effective fifteen days after the Company
converts to a Delaware Corporation in connection with its initial public offering (“Commencement Date”), if such conversion
shall occur, and shall thereafter continue until terminated in accordance with Section 4 hereof (the “Employment Period”).
The Company agrees to continue Employee in his employ as Chief Medical Officer during the Employment Period, subject to termination
of such employment pursuant to the terms of this Agreement.

 

2.           EMPLOYMENT DUTIES.

 

(a)               
Duties. Employee shall have such duties as are customarily performed and exercised by the Chief Medical Officer of
a company with subsidiary operations, subject to the supervision by the Board and the Company’s Chief Executive Officer,
together with such additional duties as are reasonably assigned by the Board and Chief Executive Officer. During the Employment
Period, Employee’s services shall be performed in San Diego, CA, or the metropolitan area of the Employee’s future
primary residence, subject to reasonable business travel based upon the needs of the Company, subject to the terms of any Company
travel policies in place from time to time.

 

(b)                Time
and Attention. Beginning on the Commencement Date , excluding any periods of vacation and sick leave to which Employee is
entitled, Employee agrees to devote 80% of Employee’s working time, energy, and skill to the business and affairs of
the Company and, to the extent necessary to discharge the responsibilities assigned to Employee hereunder, to use
Employee’s reasonable best efforts to perform faithfully and efficiently such responsibilities and to use
Employee’s reasonable best efforts to be available to the Company and its employees at such times as necessary,
expedient, or helpful to the Company; provided, however, that these obligations shall not prohibit Employee from (i) as
approved by the Board, serving on civic or charitable boards or committees and two (2) corporate boards or committee, (ii)
managing personal investments, so long as such activities do not materially interfere with the performance of
Employee’s responsibilities to the Company, its subsidiaries and affiliates, or violate the Company’s conflict of
interest policies, or (iii) devoting no more than 20% of Employees’ working time, energy, and skill to the business and
affairs outside the Company. During the Employment Period, Employee shall (i) disclose to the Company any business
opportunity that comes to Employee’s attention and that relates to the business of the Company or otherwise arises as a
result of Employee’s employment with the Company and (ii) not take advantage of or otherwise divert such opportunity
for Employee’s own benefit or that of any other person or entity without prior written consent of the Company.

 

    	 	 	 

     

    

 

(c)          Avoidance
of Conflicting Obligations. Employee hereby acknowledges, agrees and represents that Employee’s execution of this Agreement
and performance of employment-related obligations and duties for the Company will not cause any breach, default, or violation
of any other employment, non-disclosure, confidentiality, non-competition, or other agreement to which Employee may be a party
or otherwise be bound. Moreover, Employee hereby agrees that Employee will not use in the performance of his employment-related
obligations and duties for the Company or otherwise disclose to the Company any trade secrets or confidential information of any
person or entity (including any former employer) if and to the extent such use or disclosure may cause a breach or violation of
any obligation or duty owed by Employee to such employer, person, or entity under any agreement or applicable law.

 

3.           COMPENSATION.

 

(a)          Compensation.
For all services which Employee renders to the Company or any of its subsidiaries or affiliates during the Employment Period,
the Company agrees to pay Employee the salary, cash incentive, and equity compensation as set by the Board or the Compensation
Committee (as defined herein), subject to the following:

 

(i)                
Primary Cash Compensation. Effective as of the Commencement Date, Employee’s monthly salary shall be $27,083
per month, representing an annual rate of $325,000 (the “Base Salary”). Employee’s Base Salary shall be reviewed
annually by the Board or a Compensation Committee established by the Board in its discretion (the “Compensation Committee”)
and the Base Salary for each fiscal year during the Employment Period shall be determined by the Board or the Compensation Committee,
which may authorize an increase in Employee’s Base Salary for such year. In no event may Employee’s Base Salary be
reduced below its then-current level at any time during the Employment Period other than with Employee’s written consent
or pursuant to a general wage reduction in respect of substantially all of the Company’s executive officers, which reduction
is based on the Company’s financial performance, in which event Employee’s Base Salary may only be reduced to the same
extent and up to the same percentage amount as the base salaries of other executive officers are reduced. Employee’s Base
Salary shall be paid in accordance with the Company’s normal periodic payroll practices.

 

(ii)               Cash
Bonus. Commencing upon the establishment of a bonus program approved by the Board or the Compensation Committee, Employee
will be eligible for an annual cash bonus with a target bonus amount equal to no less than 35% of his then-current Base
Salary (the “Cash Bonus”). The Cash Bonus shall be paid in a single lump sum with the first payroll following the
approval of the Audited Financial statement by the Board or by an Audit Committee established by the Board in its discretion
(the “Audit Committee”). The Cash Bonus is subject to achievement of annual bonus metrics set by the Board or the
Audit Committee from year to year and represents a bonus target percentage which may be earned subject to Employee’s
continued employment with the Company and achievement of corporate/Board objectives set by the Board or the Audit Committee.
The Company maintains full and absolute discretion over the decision to award any bonus, and the determination of the amount
of any bonus, based upon various factors that include, but are not limited to, Employee’s performance and the Company's
performance. To be eligible to earn any bonus, Employee must be actively employed by the Company at the time of payment.
Employee’s Cash Bonus percentage shall be reviewed annually by the Board or the Compensation Committee, beginning with
the year after a bonus program is approved by the Board or the Compensation Committee, and the target Cash Bonus percentage
for each such year shall be determined by the Board or the Compensation Committee, which may authorize an increase in
Employee’s Cash Bonus percentage for such year. In no event may Employee’s Cash Bonus percentage be reduced below
its then-current level at any time during the Employment Period other than with Employee’s written consent and may only
be reduced to the same extent and up to the same percentage amount as the target bonus percentage of other executive officers
are reduced.

 

    	 	2	 

     

    

 

(iii)         Equity.
On the Commencement Date, the Company shall issue an option to Employee to purchase 0.50% of the number of shares of the Company’s
common stock issued and outstanding as of the date of the grant to Employee, after accounting for dilution of the issuance to
Employee (the “Option”). No portion of this Option may be exercised until such portion shall have vested and
become exercisable as described in subparagraph (A) below. Subject to the vesting provisions provided
herein and under subparagraph (A) below, the Option shall be exercisable for a period of ten years from the award date (“Expiration
Date”). The Option shall be exercisable in whole or in part at Fair Market Value. For purposes of this Agreement, “Fair
Market Value” means the listed trading value one of share of the Company’s common stock as of the close of the NASDAQ
on the Commencement Date. Notwithstanding any provision in this Agreement to the contrary, Fair Market Value shall be interpreted
or amended to comply with Section 409A of the Internal Revenue Code of 1986, as amended and in effect from time to time and including
the regulations and guidance thereunder (the “Code”), if applicable to the Agreement and award.

 

(A)        Vesting.
Thirty-three and 1/3 percent (33.333%) of the Shares shall vest and become exercisable on the first anniversary of the Commencement
Date, provided that Employee continues to be employed with the Company at such time. Thereafter, the remaining sixty-six and 2/3
percent (66.667%) of the Shares shall vest and become exercisable in 24 equal monthly installments (at the end of each successive
one-month period) following the first anniversary of the Commencement Date, provided Employee continues to be employed with the
Company on each vesting date. Notwithstanding anything in the Agreement to the contrary, in the case of a Change in Control Event
as defined below, this Option and the Shares shall be treated as immediately and fully vested.

 

(B)         Exercise of Option. Employee may exercise this Option only in the following manner: Prior to the Expiration Date,
Employee may deliver an Option exercise notice (an “Exercise Notice”) in the form of Appendix A attached hereto indicating
his or her election to purchase some or all of the stock. Such notice shall specify the number of shares to be purchased. Payment
of the purchase price may be made by one or more of the methods described in Appendix A. If Employee elects to make payment by
offset, then it shall be deemed as though Employee paid cash to the Company for his Stock immediately before the sale event or
dividend event giving rise to Employee’s right to receive cash, such that the cash paid by Employee shall be considered as
part of the distributable proceeds to all shareholders.

 

(C)         Termination
of Option. Except as may otherwise be provided by the Company, if Employee’s employment is terminated as described in
this Agreement, the period within which to exercise this Option will be subject to early termination as set forth below, and if
the Option is not exercised within such period, it shall thereafter terminate as follows:

 

(1)               
Termination Due to Death or Disability. If Employee’s employment is terminated by reason of his death or Disability,
this Option may continue to be exercised by Employee, Employee’s legal representative or legatee as applicable, for a period
of 12 months from the date of death or Disability or until the Expiration Date, if earlier.

 

    	 	3	 

     

    

 

(2)               Other
Termination. If Employee’s employment is terminated for any reason other than death or Disability, and unless otherwise
determined by the Company, this Option may continue to be exercised, for a period of 90 days from the date of termination or until
the Expiration Date, if earlier; provided however, if Employee’s employment is terminated for Cause, this Option shall terminate
immediately upon the date of such termination.

 

(3)               For
purposes hereof, the Company’s determination of the reason for termination shall be conclusive and binding on Employee and
Employee’s representatives or legatees.

 

(D)         Transferability
of Option. This Option is personal to Employee and is not transferable by Employee in any manner other than by will or by
the laws of descent and distribution. The Option may be exercised during Employee’s lifetime only by Employee (or by Employee’s
guardian or personal representative in the event of Employee’s Disability or death). Employee may elect to designate a beneficiary
by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time
by filing written notice of revocation or change with the Company; such beneficiary may exercise Employee’s Option in the
event of Employee’s death to the extent provided herein. If Employee does not designate a beneficiary, or if the designated
beneficiary predeceases Employee, the legal representative of Employee may exercise this Option to the extent provided herein
in the event of Employee’s death.

 

(E)          Restrictions
on Transfer of Shares. The Shares acquired upon exercise of the Option shall be subject to certain transfer restrictions and
other limitations, including, without limitation, the provisions contained in the bylaws, any buy-sell agreement, and any lock-up
agreement between Employee and the Company, as applicable.

 

(iv)         Other
Compensation. Commencing with the calendar year beginning January 1, 2021, Employee shall be entitled to participate in annual
long-term incentive opportunities as determined by the Board consistent with those provided to other Company executive officers
and in accordance with the Company’s plans and applicable award agreements.

 

(b)          Expenses.
The Company shall pay all reasonable expenses incurred by Employee that are directly related to performance of his responsibilities
and duties for the Company hereunder. Employee shall submit to the Company statements that justify in reasonable detail all reasonable
expenses so incurred. Subject to such audits as the Company may deem necessary, the Company shall reimburse Employee the full
amount of any such expenses advanced by Employee. Reimbursable expenses shall also include a reimbursement for health, dental
and vision benefits plan in lieu of the Company offering such plans. All expenses eligible for reimbursements in connection with
Employee’s employment must be incurred by Employee while employed by the Company and must be in accordance with the Company’s
expense reimbursement policies. The amount of reimbursable expenses incurred in one taxable year shall not affect the expenses
eligible for reimbursement in any other taxable year. Each category of reimbursement shall be paid according to the Company’s
standard expense reimbursement policy, typically at the end of the month of submission, but in no event shall any such reimbursement
be paid after the last day of the Company’s taxable year following the taxable year in which the expense was incurred. No
right to reimbursement is subject to liquidation or exchange for other benefits.

 

(c)          Air
Travel. As an executive officer of the company, Employee is authorized to book business class travel or the equivalent for
any required business travel at his discretion. International business class travel will be subject to prior approval.

 

    	 	4	 

     

    

 

(d)          Benefits. Employee will be entitled to participate in each employee benefit plan and program of the Company, as
in place from time to time, to the extent that Employee meets the eligibility requirements for such employee benefit plan or program.
Employee shall pay any contributions which are generally required of employees to receive any such benefits. The Company will
endeavor to institute industry standard health insurance programs and benefits as well as a 401(k) program.

 

To the extent the Company makes directors’
and officers’ liability insurance available to the directors, it will also make it available to Employee on the same terms
as other directors. Employee shall receive paid time off (“PTO”) in accordance with the Company’s PTO policies
and procedures in place from time to time, but in no event will Employee receive less than three weeks PTO annually; provided,
however, that, in accordance with the Company’s PTO practices, PTO not taken during any calendar year shall not be carried
over to a subsequent year. Following the Date of Termination (as defined below), Employee shall be paid at a rate per day equal
to Employee’s Base Salary then in effect divided by 260 for all current and previously accumulated PTO days not taken during
the calendar year in which the Date of Termination occurs, with such payment to be made within 30 days following the Date of Termination.
Such amount shall be deemed a payment obligation accruing through the Date of Termination for purposes of Section 5.

 

4.           TERMINATION.

 

(a)          Cause.
The Company may terminate Employee’s employment during the Employment Period for Cause. For purposes of this Agreement,
 “Cause” shall mean:

 

(i)            An
intentional act of fraud, embezzlement, theft or any material violation of law that occurs during or in the course of the Employment
Period;

 

(ii)           Intentional damage by Employee to the Company’s assets;

 

(iii)          Intentional disclosure by Employee of the Company’s confidential information contrary to Company policies;

 

(iv)          Material breach of Employee’s obligations under this Agreement;

 

(v)           Intentional engagement by Employee in any activity which would constitute a breach of Employee’s duty of loyalty or
Employee’s assigned duties;

 

(vi)          Intentional breach by Employee of any of the Company’s policies and procedures;

 

(vii)         The willful and continued failure by Employee to perform Employee’s assigned duties (other than as a result of incapacity
due to physical or mental illness);

 

(viii)        Employee is or has been prevented from performing any duties contemplated by this Agreement by reason of any agreement with
any third party to which Employee is a party or is bound; or

 

(ix)          an appropriation, or attempted appropriation, of a business opportunity of Company or one of its affiliates;

 

(x)           a conviction of, indictment for, or the entering of Employee of a guilty plea to any felony or civil offense involving fraud
or moral turpitude (or a plea of nolo contendere thereto);

 

    	 	5	 

     

    

 

(xi)          securing a personal benefit, or attempting to secure a personal benefit, in any transaction entered into on behalf of or
by Company; or

 

(xii)         sexual misconduct while conducting business on behalf of Company.

 

(xiii)        Willful conduct by Employee that is demonstrably and materially injurious to the Company, monetarily or otherwise.

 

For purposes of this provision, no act,
or failure to act, on the part of Employee shall be considered “willful” unless it is done, or omitted to be done,
by Employee in bad faith or without reasonable belief that Employee’s action or omission was in the best interests of the
Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon
the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Employee in good faith
and in the best interests of the Company.

 

(b)          Good Reason. Employee may terminate Employee’s employment during the Employment Period for Good Reason.

 

(i)            For
purposes of this Agreement, “Good Reason” shall mean the assignment to Employee, without Employee’s consent,
of any duties materially inconsistent with Employee’s position (including changes in status, offices, or titles and any
change in Employee’s reporting requirements), authority, duties, or responsibilities as contemplated by Section 2(a),
the Company requiring Employee to relocate Employee’s primary Atlanta work location by more than 50 miles, or any other
action by the Company which results in a material diminution in such position, authority, duties, responsibilities or aggregate
Base Salary and applicable percentage used in determining the Cash Bonus; except as otherwise specified in Section 2, or the Company’s
material breach of its obligations to Employee under this Agreement (each an “Event” for purposes of this paragraph).

 

(ii)           Employee must notify the Company in writing of any Event that constitutes Good Reason within 90 days following Employee’s
initial knowledge of the existence of such Event (or, if earlier, within 90 days following the date upon which Employee should
reasonably have been expected to have knowledge of such Event) or such Event shall not constitute Good Reason under this Agreement.
Employee must provide at least 30 days prior written notification of his intention to terminate his employment for Good Reason
and the Company shall have 30 days from the date of receipt of such notice to effect a cure of the condition constituting Good
Reason, and, upon cure thereof by the Company, such Event shall no longer constitute Good Reason.

 

(c)          Notice of Termination. Any termination by either Party for any reason, including any termination by the Company for
Cause, or by Employee for Good Reason, shall be communicated by Notice of Termination to the other Party hereto given in accordance
with Section 12(c). For purposes of this Agreement, a “Notice of Termination” means a written notice which (i)
indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision
so indicated and (iii) specifies the Date of Termination (which date shall not be more than 30 days after the giving of such notice;
provided, however, that if Employee is terminating for Good Reason such date shall be not less than 30 days nor more than 45 days
after giving such notice. The inadvertent failure by Employee or the Company to set forth in the Notice of Termination a particular
fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of Employee or the Company,
respectively, hereunder or preclude Employee or the Company, respectively, from asserting such fact or circumstance in enforcing
Employee’s or the Company’s rights hereunder.

 

    	 	6	 

     

    

 

(d)          Date of Termination. “Date of Termination” means the date of receipt of the Notice of Termination, or
any later date specified therein, as the case may be. The Company and Employee shall take all steps necessary (including with
regard to any post-termination services by Employee) to ensure that any termination of employment described in this Section 4
constitutes a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as
amended and in effect from time to time and including the regulations and guidance thereunder and notwithstanding anything contained
herein to the contrary, the date on which the separation from service takes place shall be the “Date of Termination.”
Notwithstanding the foregoing, the Date of Termination may be accelerated by the Party who receives Notice of Termination by providing
to the other Party written notice of acceleration, including the accelerated Date of Termination, within 30 days of receipt of
the Notice of Termination.

 

5.           OBLIGATIONS
OF COMPANY UPON TERMINATION.

 

(a)          Cause; Without Good Reason. If Employee’s employment is terminated by the Company for Cause or by Employee
without Good Reason, the Employment Period shall terminate without further obligation to Employee other than Base Salary and accrued
unused PTO through the Date of Termination paid on the Company’s normal payroll payment date.

 

(b)          Disability
or Death. If the Employment Period is terminated due to the death or Disability of Employee, Employee (or his estate or legal
representative) shall be entitled solely to the following: (i) Base Salary, accrued unused PTO, and any other accrued obligations
through the Date of Termination (paid on the Company’s normal payroll payment date) (the “Accrued Compensation”),
(ii) in the event the Employment Period is terminated due to Disability of the Employee, subject to Employee satisfying the waiver
and release condition identified in Section 12(d) and not violating the Protective Covenants (if applicable), payment of
the annual Cash Bonus (as described in Section 3(a)(ii)) of this Agreement that Employee otherwise would have earned but
for such termination of employment for the performance period in which Employee’s Date of Termination occurs, based on actual
performance for the entire performance period, and payable no later than the end of the year in which the Disability or death
occurs, provided that it shall be subject to a pro-rata reduction for the portion of the performance period following the Date
of Termination, and (iii) in the case of a termination due to Disability, and subject to Employee being eligible for and taking
all steps necessary to continue Employee’s group health insurance coverage with the Company following the Date of Termination,
continued participation, at the Company’s expense, in the Company’s group health plans for Employee and his eligible
covered dependents through the earliest of: (x) the 18-month anniversary of the Date of Termination, (y) the date Employee becomes
eligible for group health insurance coverage from any other employer, or (z) the date Employee is no longer eligible to continue
Employee’s group health insurance coverage with the Company under applicable law. As used herein “Disability”
shall mean and include Employee’s incapacity due to physical or mental illness or disability to timely perform his duties
under this Agreement, as reasonably determined by the Board, for a period of six or more consecutive months. Disability also includes
Employee becoming permanently disabled within the meaning of any long-term disability plan of the Company applicable to Employee,
and Employee commences to receive benefits under such plan. Termination of the Employment Period under this Section 5(b)
shall not constitute a termination by the Company other than for Cause or by Employee for Good Reason.

 

(c)          Other
Than for Cause; Good Reason. Except as otherwise provided in Section 6(a), if (i) the Company terminates
Employee’s employment other than for Cause or (ii) Employee terminates employment for Good Reason, then the Employment
Period shall terminate without further obligation to Employee other than the Company’s obligation to pay to Employee
(or, in the case of his death, to his estate or legal representatives) the Accrued Compensation and, subject to Employee
satisfying the waiver and release condition identified in Section 12(d) and not violating the Protective Covenants, the
Severance Payment and Benefits Continuation Payments (as defined below). Such payments shall be subject to the
Company’s normal payroll and withholding requirements.

 

    	 	7	 

     

    

 

(d)          Severance
Payment and Benefits Continuation Payments. Subject to Employee satisfying the waiver and release condition identified in
Section 12(d), the “Severance Payment” shall be equal to one-quarter (25%) of the aggregate of Employee’s
then-current annual Base Salary plus an amount equal to a prorated portion of Employee’s Cash Bonus for the year in which
the Date of Termination occurs, with such prorated amount determined by multiplying Employee’s Cash Bonus for the year in
which the Date of Termination occurs by a fraction, the numerator of which is the number of full months during such year in which
Employee was employed and the denominator of which is 12. In addition, subject to Employee satisfying the waiver and release condition
identified in Section 12(d) and not violating the Protective Covenants, and Employee being eligible for and taking all steps
necessary to continue Employee’s group health insurance coverage with the Company following the Date of Termination, Employee
will receive continued participation, at the Company’s expense, in the Company’s group health plans for Employee and
his eligible covered dependents through the earliest of: (x) the 12-month anniversary of the Date of Termination, (y) the date
Employee becomes eligible for group health insurance coverage from any other employer, or (z) the date Employee is no longer eligible
to continue Employee’s group health insurance coverage with the Company under applicable law (the “Benefits Continuation
Payments”).

 

(e)          Timing of Severance Payment.

 

(i)           Timing
of Severance Payment. The Severance Payment shall be payable to Employee (or, in the event of death, to his estate or legal
representative) in cash by the Company over a period of 3 consecutive months.

 

(ii)          Distribution Rules. The following rules shall apply with respect to the distribution of payments and benefits, if
any, to be provided to Employee under this Section 5 and Section 6, as applicable:

 

(A)          Notwithstanding
anything to the contrary contained herein, no payments shall be made to Employee upon Employee’s termination of employment
from the Company under this Agreement unless such termination of employment is a “separation from service” under Code
Section 409A. The determination of whether and when a “separation from service” has occurred shall be made in a manner
consistent with and based on the presumptions set forth in Treasury Regulations Section 1.409A-1(h). If, as of the date of the
 “separation from service” of Employee from the Company, Employee is not a Specified Employee (as defined in Section 5(e)(iii)),
then the payments shall be made on the dates and terms set forth in Section 5(e)(i).

 

(B)           If, as of the date of the “separation from service” of Employee from the Company, Employee is a Specified Employee,
then any portion of the payments that is a payment of deferred compensation as determined under Code Section 409A (after taking
into account the exemption rules for short-term deferrals under Treasury Regulations Section 1.409A-1(b)(4) and separation payments
under Treasury Regulations Section 1.409A-1(b)(9)(iii)) and that would, absent this subsection, be paid within the six-month period
following the separation from service of Employee from the Company shall not be paid until the date that is six months and one
day after such separation from service (or, if earlier, Employee’s death).

 

    	 	8	 

     

    

 

(iii)         Specified
Employee. As used herein, the term “Specified Employee” means a “specified employee” (as defined
in Code Section 409A(a)(2)(B)(i)). By way of clarification, “specified employee” means a “key
employee” (as defined in Section 416(i) of the Code, disregarding Section 416(i)(5) of the Code) of the Company.
Employee shall be treated as a “key employee” if Employee meets the requirement of Section 416(i)(1)(A)(i), (ii)
or (iii) of the Code at any time during the 12-month period ending on an “identification date.” If Employee is a
 “key employee” as of an identification date, he shall be treated as a Specified Employee for the 12-month period
beginning on the first day of the fourth month following such identification date. For purposes of any Specified Employee
determination hereunder, the “identification date” shall mean the last day of the calendar year.

 

6.           CHANGE
OF CONTROL TERMINATION PAYMENT.

 

(a)         Triggering Event. In consideration and recognition of Employee’s employment and his contribution to protecting
and enhancing shareholder value in any future sale of the Company that may occur, the Company agrees to pay to Employee a change
of control termination payment as specified below (the “Change of Control Termination Payment”). The Change of Control
Termination Payment shall be in addition to amounts otherwise payable pursuant to Section 3 through the Date of Termination
but in lieu of any Severance Payments or Benefits Continuation Payments otherwise due under Section 5, shall be subject to
Employee satisfying the waiver and release condition identified in Section 12(d) and Employee not violating the Protective
Covenants, and shall be earned upon the earlier of (i) the termination of Employee’s employment with the Company at any time
within two years following a Change of Control (as defined below) (A) by the Company for any reason other than Cause or (B) by
Employee for Good Reason or (ii) upon the occurrence of a Change of Control, if Employee’s employment with the Company was
terminated within six months prior to the Change of Control, either by (A) the Company for any reason other than Cause or (B) by
Employee for Good Reason (the earlier of (i) or (ii) above being referred to as the “Triggering Event”).

 

(b)         Amount.
The amount of the Change of Control Termination Payment shall be equal to 1.0 times the aggregate of Employee’s then-current
annual Base Salary as of the Date of Termination plus an amount equal to 1.0 times the Employee’s Cash Bonus for the year
in which the Date of Termination occurs.

 

(c)         Payment;
Medical Coverage. Subject to Employee satisfying the waiver and release condition identified in Section 12(d) and not
violating the Protective Covenants, the Change of Control Termination Payment shall be paid in a single cash lump sum payment
to Employee (or, in the event of death, to his estate or legal representative) not later than 45 days after the Triggering Event.
Such payment shall be in addition to sums due to Employee through the Date of Termination, shall be subject to normal withholding
requirements of the Company and shall be in lieu of Severance Payments or Benefits Continuation Payments that may otherwise be
due under Section 5. In addition, notwithstanding anything to the contrary herein, subject to Employee satisfying the waiver
and release condition identified in Section 12(d) and not violating the Protective Covenants and Employee being eligible
for and taking all steps necessary to continue Employee’s group health insurance coverage with the Company, if any, following
the Date of Termination, Employee will receive the Benefits Continuation Payments.

 

(d)         Change
of Control Defined. For the purposes of this Agreement, the term “Change of Control” means a change in the ownership
or effective control of, or in the ownership of a substantial portion of the assets of, the Company, to the extent consistent
with Code Section 409A and any regulatory or other interpretive authority promulgated thereunder, as described in paragraphs (i)
through (iv) below.

 

(i)           Change
in Ownership of Company. A change in the ownership of the Company will be deemed to have occurred on the date that any one
person, or more than one person acting as a group (within the meaning of paragraph (iv) below) other than a group of which Employee
is a member, acquires ownership of the Company stock that, together with the Company stock held by such person or group, constitutes
more than 50% of the voting power of the stock of the Company.

 

(A)          If
any one person or more than one person acting as a group (within the meaning of paragraph (iv) below), other than a group of which
Employee is a member, is considered to own more than 50% of the total voting power of the stock of the Company, the acquisition
of additional Company stock by such person or persons shall not be considered to cause a change in the ownership of the Company
or to cause a change in the effective control of the Company (within the meaning of paragraph (ii) below).

 

    	 	9	 

     

    

 

(B)          An
increase in the percentage of Company stock owned by any one person, or persons acting as a group (within the meaning of paragraph
(iv) below), as a result of a transaction in which the Company acquires its stock in exchange for property, shall be treated as
an acquisition of stock for purposes of this paragraph (i).

 

(C)          Except as provided in (B) above, the provisions of this paragraph (i) shall apply only to the transfer or issuance of Company
stock if such stock remains outstanding after such transfer or issuance.

 

(ii)          Change in Effective Control of Company.

 

(A)         A
change in the effective control of the Company shall occur on the date that either of (1) or (2) below occurs:

 

(1)               Any one person, or more than one person acting as a group (within the meaning of paragraph (iv) below), acquires (or has
acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock
of the Company possessing 30% or more of the total voting power of the stock of the Company, or

 

(2)               A majority of members of the Board are replaced during any 12-month period by members of the Board whose appointment or
election is not endorsed by a majority of the Board prior to the date of such appointment or election.

 

(B)         A change in effective control of the Company also may occur with respect to any transaction in which either the Company
or the other entity involved in a transaction experiences a Change of Control event described in paragraphs (i) or (iii).

 

(C)         If any one person, or more than one person acting as a group (within the meaning of paragraph (iv) below), is considered
to effectively control the Company (within the meaning of this paragraph (ii)), the acquisition of additional control of the Company
by the same person or persons shall not be considered to cause a change in the effective control of the Company (or to cause a
change in the ownership of the Company within the meaning of paragraph (i)).

 

(iii)         Change
in Ownership of a Substantial Portion of Company’s Assets. A change in the ownership of a substantial portion of the
Company’s assets shall occur on the date that any one person, or more than one person acting as a group (within the meaning
of paragraph (iv) below), other than a group of which Employee is a member, acquires (or has acquired during the 12-month period
ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair
market value (within the meaning of paragraph (iii)(B)) equal to or more than 40% of the total gross fair market value of all
of the assets of the Company immediately prior to such acquisition or acquisitions.

 

(A)         A
transfer of the Company’s assets shall not be treated as a change in the ownership of such assets if the assets are transferred
to one or more of the following:

 

(1)               A stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to Company stock;

 

    	 	10	 

     

    

 

(2)               
An entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by the Company;

 

(3)               
A person, or more than one person acting as a group (within the meaning of paragraph (iv) below), that owns, directly or
indirectly, 50% or more of the total value or voting power of all of the outstanding stock of the Company; or

 

(4)               
An entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a person described
in paragraph (iii)(A)(3).

 

For purposes of this paragraph (iii)(A),
and except as otherwise provided, a person’s status is determined immediately after the transfer of assets.

 

(B)         For
purposes of this paragraph (iii), gross fair market value means the value of all the Company’s assets, or the value of the
assets being disposed of, determined without regard to any liabilities associated with such assets.

 

(iv)         Group
Definition. For the purposes of this Section 6, persons shall be considered to be acting as a group if they are owners
of an entity that enters into a merger, consolidation, purchase, or acquisition of assets, or similar business transaction with
the Company. If a person, including an entity stockholder, owns stock in the Company and another entity with which the Company
enters into a merger, consolidation, purchase, or acquisition of stock, or similar business transaction, such person shall be
considered to be acting as a group with the other owners of equity interests in an entity only to the extent of the ownership
in that entity prior to the transaction giving rise to the change and not with respect to the ownership interest in the other
corporation. Persons shall not be considered to be acting as a group solely because they purchase or own stock of the Company
at the same time, or as a result of the same public offering of Company stock.

 

7.           NON-EXCLUSIVITY OF RIGHTS.

 

Nothing in this Agreement shall prevent
or limit Employee’s continuing or future participation in any plan, program, policy or practice provided by the Company or
any of its affiliated companies and for which Employee may qualify, nor, except as specifically set forth herein, shall anything
herein limit or otherwise affect such rights as Employee may have under any contract or agreement with the Company or any of its
affiliated companies. Amounts which are vested benefits or which Employee is otherwise entitled to receive under any plan, practice
or program of or any contract or agreement with the Company or any of its affiliated companies at or subsequent to the Date of
Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly
modified by this Agreement.

 

8.           FULL
SETTLEMENT.

 

In no event shall Employee be
obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Employee under any
of the provisions of this Agreement, and such amounts shall not be reduced whether or not Employee obtains other employment.
The Company agrees to pay as incurred, to the full extent permitted by law, all legal fees and expenses which Employee may
reasonably incur as a result of any contest or dispute by the Company or Employee with respect to liability under, or the
interpretation of the validity or enforceability of, any provision of this Agreement, but only in the event and to the extent
that (i) Employee receives a final, non-appealable judgment in his favor in any such action or receives a final judgment in
his favor that has not been appealed by the Company within 30 days of the date of the judgment; or (ii) the Parties agree to
dismiss any such action upon the Company’s payment of the sums allegedly due Employee or performance of the covenants
by the Company allegedly breached by it.

 

    	 	11	 

     

    

 

9.           PROTECTIVE
COVENANTS

 

(a)          Confidential
Information. Employee and the Company are Parties to one or more separate agreements respecting confidential information,
trade secrets, and inventions, including, without limitation, the Employee Confidentiality and Intellectual Property Assignment
Agreement signed in connection with and as a condition of Employee’s employment with the Company (collectively, the “IP
Agreements”); provided, that any agreements respecting confidential information, trade secrets, and inventions shall be
consistent with, and no more burdensome than, the Employee’s obligations under the Employee Confidentiality and Intellectual
Property Assignment Agreement signed in connection with and as a condition of Employee’s employment with the Company, unless
such changes result from changes to applicable law. The Parties agree that the IP Agreements shall not be superseded or terminated
by this Agreement and shall survive for three years post termination of this Agreement.

 

(b)          Non-Compete
Commitment. During the Employment Period and for a period of one year following the Date of Termination, regardless of the
reason for the termination of Employee’s employment and whether such termination occurs at the initiative of Employee or
the Company, Employee agrees that he will not accept any position as principal executive officer, president, or Chief Medical
Officer with, or provide comparable level executive consultation to any Competitive Business of the Company. As used herein, a
 “Competitive Business” is a business (including, but not limited to, a business started by Employee) that is in the
business of providing activities, products, or services that are competitive with those provided by the Company and that are of
the type conducted, authorized, offered, provided, or under development by the Company, including without limitation any business
or activity related to the development of pharmaceuticals or treatments for the suppression of the HSV-1 virus and related viruses,
within one year prior to Employee’s Date of Termination.

 

(c)          Agreement
Not to Solicit Employees. During the Employment Period and for a period of one year following the Date of Termination, regardless
of the reason for the termination of Employee’s employment and whether such termination occurs at the initiative of Employee
or the Company, Employee covenants and agrees that Employee shall not (a) solicit, recruit, or hire (or attempt to solicit, recruit,
or hire) or otherwise assist anyone in soliciting, recruiting, or hiring, any employee of the Company who performed work for the
Company within the last year of Employee’s employment with the Company until that employee’s employment with the Company
has been voluntarily or involuntarily terminated for at least six months, or (b) otherwise encourage, solicit, or support any
employee(s) to leave their employment with the Company.

 

(d)          Non-Solicitation
of Customers or Clients. During the Employment Period and for a period of one year following the Date of Termination,
regardless of the reason for the termination of Employee’s employment and whether such termination occurs at the
initiative of Employee or the Company, Employee agrees not to solicit, directly or by assisting others, any business from any
of the Company’s customers or clients, including actively sought prospective customers or clients, with whom Employee
has had material contact during the one-year period prior to the termination of the Employment Period with the Company, for
the purpose of providing products or services that are competitive with those provided by the Company. As used in this
paragraph, “material contact” means the contact between Employee and each customer, client or vendor, or
potential customer, client or vendor (i) with whom or which Employee dealt on behalf of the employer, (ii) whose dealings
with the Company were coordinated or supervised by Employee, (iii) about whom Employee obtained confidential information in
the ordinary course of business as a result of Employee’s association with the Company, or (iv) who receives products
or services authorized by the Company, the sale or provision of which results or resulted in compensation, commissions, or
earnings (directly or indirectly) for Employee within one year prior to Employee’s Date of Termination.

 

    	 	12	 

     

    

 

(e)          Non-Disparagement.
Employee agrees not to make disparaging remarks, or remarks that could reasonably be construed as disparaging, regarding the Company,
its subsidiaries, their directors, officers, or employees, businesses or practices during the Employment Period and thereafter.
Company, on behalf of its officers, directors and managers, agrees not to make disparaging remarks, or remarks that could reasonably
be construed as disparaging, regarding Employee. For the avoidance of doubt, this non-disparagement obligation shall not in any
way affect either party’s obligation to testify truthfully in any legal proceeding.

 

(f)           Certain
Payment Obligations/Consideration. Employee agrees that the payment of any Severance Payment, Benefits Continuation Payments
or Change of Control Termination Payment shall be subject to and expressly conditioned upon Employee’s compliance with the
covenants set forth in paragraphs (a) through (e) of this Section 10 (collectively, the “Protective Covenants”). Payments
of amounts owing under any Change of Control Termination Payment, Severance Payment or Benefits Continuation Payments obligation
shall be conditioned upon Employee’s continued compliance with the Protective Covenants. Should Employee fail to comply
with any of the Protective Covenants, the Company shall not be required to make the Change of Control Termination Payment, Severance
Payment (or any portion thereof remaining unpaid), or Benefits Continuation Payments and Employee shall be required to repay any
portion of the Change of Control Termination Payment, Severance Payment, or Benefits Continuation Payments that Employee has already
received from the Company. Employee acknowledges that the consideration for the Protective Covenants includes the employment granted
and the salary and other compensation provided hereunder including, but not limited to, the covenants respecting a Severance Payment,
Change of Control Termination Payment, or Benefits Continuation Payments.

 

(g)          Specific Performance. Employee acknowledges that it would be difficult to calculate the Company’s damages from
Employee’s breach of any of the Protective Covenants and that money damages (even including any repayments made pursuant
to paragraph (f)) would therefore be an inadequate remedy. Accordingly, upon such breach, Employee acknowledges that the Company
may seek and shall be entitled to temporary, preliminary, and/or permanent injunctive relief against Employee, and/or other appropriate
orders to restrain such breach. Nothing in this provision shall limit or prevent the Company from seeking any other damages or
relief provided by applicable law for breach of this Agreement or any section or provision hereof. Employee agrees that the Company
may obtain specific performance, and that the Company shall not be required to post bond in the event it is necessary for the Company
to obtain temporary or preliminary injunctive relief, any bond requirement hereby being expressly waived by Employee.

 

(h)          Protective Covenant Enforceability. The Parties covenant and agree that the provisions contained in paragraphs (a)
through (g) are reasonable and are not known or believed to be in violation of any federal, state, or local law, rule, or regulation.
It is the reasonable intent and expectation of the Parties that these protective covenants shall be enforced in accordance with
their terms. However, in the event a court of competent jurisdiction finds any provision herein (or subpart thereof) to be void
or unenforceable, the Parties agree that the court shall modify the provision(s) (or subpart(s) thereof) to make the provision(s)
(or subpart(s) thereof) and this Agreement valid and enforceable to the fullest extent permitted by applicable law. Any illegal
or unenforceable provision (or subpart thereof), or any modification by any court, shall not affect the remainder of this Agreement,
which shall continue at all times to be valid and enforceable in accordance with its terms.

 

    	 	13	 

     

    

 

10.        SUCCESSORS.

 

(a)          Successors in Interest. This Agreement is personal to Employee and, without the prior written consent of the Company,
shall not be assignable by Employee otherwise than by will or the laws of descent and distribution. This Agreement shall inure
to the benefit of and be enforceable by Employee’s legal representatives. This Agreement shall inure to the benefit of and
be binding upon the Company and its successors and assigns.

 

(b)          Assumption of Agreement. The Company will require any successor who acquires all or substantially all of the business
and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent
that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, the “Company”
shall mean Virios Therapeutics, Inc., as hereinbefore defined and any successor to its business and/or assets as aforesaid which
assumes and agrees to perform this Agreement by operation of law or otherwise.

 

11.        COMPLIANCE WITH CODE SECTION 409A.

 

(a)          Compliance. All payments that may be made and benefits that may be provided pursuant to this Agreement are intended
to comply with, or otherwise be exempt from, Code Section 409A and any regulations and Treasury guidance promulgated hereunder,
and any ambiguities shall be interpreted in a manner consistent with the requirements of Code Section 409A. Further, notwithstanding
anything to the contrary, all Severance and Change of Control Termination payments payable under the provisions of Section 5 or
Section 6 shall be paid to Employee no later than the last day of the second calendar year following the calendar year in which
the Date of Termination occurs. None of the payments under this Agreement are intended to result in the inclusion in Employee’s
federal gross income of an amount on account of a failure under Section 409A(a)(1) of the Code. The Parties intend to administer
and interpret this Agreement to carry out such intentions. Notwithstanding any other provision of this Agreement, to the extent
that the right to any payment (including the provision of benefits) hereunder provides for the “deferral of compensation”
within the meaning of Section 409A(d)(1) of the Code, the payment shall be paid (or provided) in accordance with the following:

 

(i)            Each payment hereunder is intended to constitute a separate payment from each other payment for purposes of Treasury Regulations
Section 1.409A-2(b)(2).

 

(ii)           Payments with respect to reimbursements of expenses or benefits or provision of fringe or other in-kind benefits shall be
made on or before the last day of the calendar year following the calendar year in which the relevant expense or benefit is incurred.
The amount of expenses or benefits eligible for reimbursement, payment or provision during a calendar year shall not affect the
expenses or benefits eligible for reimbursement, payment or provision in any other calendar year.

 

(b)          Amendments.
The Company and Employee agree that they will execute any and all amendments to this Agreement as they mutually agree in good
faith may be necessary to ensure compliance with Code Section 409A.

 

(c)          Tax Matters. The Company makes no representation or warranty as to the tax effect of any of the preceding provisions,
and the provisions of this Agreement shall not be construed as a guarantee by the Company of any particular tax effect to Employee
under this Agreement. Without limiting the foregoing, the Company shall not be liable to Employee or any other person for any payment
made under this Agreement which is determined to result in the imposition of an excise tax, penalty or interest under Code Section
409A, nor for reporting in good faith any payment made under this Agreement as an amount includible in gross income under Code
Section 409A.

 

    	 	14	 

     

    

 

12.         MISCELLANEOUS.

 

(a)          Governing
Law; Venue. This Agreement shall be governed by the laws of the State of Alabama without regard to the conflicts of laws provisions
of that State or any other State. The Parties agree that any dispute arising from this Agreement, including but not limited to
issues of breach, enforceability, or modification, shall be decided only in a state or federal court sitting in Alabama, which
the Parties expressly agree shall be the exclusive venue for any such action.

 

(b)          Amendment; Validity. This Agreement may not be amended or modified otherwise than by a written agreement executed
by the Parties hereto or their respective successors and legal representatives. The invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. The captions of this
Agreement are not part of the provisions hereof and shall have no force and effect.

 

(c)          Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to
the other party or by registered or certified mail, return receipt requested, postage prepaid, in either case, accompanied by a
facsimile copy, addressed as follows:

 

If to Employee:

 

R. Michael Gendreau, M.D., Ph.D.

12730 Shadowline Street

Poway, CA 92064

 

If to the Company:

 

Virios Therapeutics, Inc.

44 Milton Ave.

Alpharetta, GA 30009

 

With
a copy to:

 

Tanner
 & Guin, LLC

ATTN:
Jonathan D. Guin

2711
University Blvd, Suite 201, Tuscaloosa, AL 35401

 

or to such other address as either party
shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually
received by the addressee.

 

(d)          Waiver
and Release. Employee acknowledges and agrees that the Company requires, as a condition to receipt of any Severance
Payment or Benefits Continuation Payments under Section 5 or any Change of Control Termination Payment or Benefits
Continuation Payments under Section 6, that Employee (or a representative of his estate on behalf of his estate) execute
a waiver and release discharging the Company, its subsidiaries, and their respective affiliates, and its and their officers,
directors, managers, employees, agents and representatives and the heirs, predecessors, successors and assigns of all of the
foregoing, from any and all claims, actions, causes of action or other liability, whether known or unknown, contingent or
fixed, arising out of or in any way related to the benefits under this Agreement, including, without limitation, any claims
under this Agreement or other related instruments, other than the Company’s obligation to pay the Accrued Compensation,
Severance Payment, Benefits Continuation Payments, Change of Control Termination Payment, and other consideration as provided
in this Agreement. The waiver and release shall be in a form determined by the Company and acceptable to Employee and shall
be executed prior to the expiration of the time periods provided for any first payment of such benefits.

 

    	 	15	 

     

    

 

(e)          Non-Waiver. The failure of the Company to insist upon or enforce strict performance of any provision of this Agreement
or to exercise any rights or remedies thereunder will not be construed as a waiver by the Company to assert or rely upon any such
provision, right, or remedy in that or any other instance.

 

(f)           Entire
Agreement. This Agreement embodies the entire agreement between the Parties with respect to the subject matter addressed herein
and supersedes any prior understandings, agreements or representations by or among the Parties, written or oral, that may relate
to the subject matter hereof; provided, however, that nothing in this Agreement is intended to and does not modify, supersede
or replace the IP Agreements, and documents adopted by the Board with respect to the Cash Bonus, any agreements or plans concerning
any equity awards to Employee, or any agreements or other documents related to any employee benefit plans, each of which are to
be in effect in accordance with their terms.

 

(g)          Survival.
The covenants set forth in Sections 4, 5, 6, 7, 8, 9, 10, 11, and 12 shall survive any termination of Employee’s employment
or termination of the Employment Period.

 

(h)          Counterparts; Facsimile; Electronic Submission. This Agreement may be executed in one (1) or more counterparts, each
of which shall be deemed an original, and it shall not be necessary in making proof of this Agreement or the terms hereof to produce
or account for more than one of such counterparts. Executed signature pages to this Agreement may be delivered by facsimile or
electronically, and such facsimiles or electronically submitted documents will be deemed as sufficient as if actual signature pages
had been delivered.

 

[Signatures on Following Page]

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF,
Employee has hereunder set Employee’s hand and, pursuant to the authorization form the Board, the Company has caused this
Agreement to be executed in its name on its behalf, each effective as of the day and year first above written.

 

	 	Employee:
	 	 	 
	 	/s/ R. Michael Gendreau, M.D., Ph.D.
	 	R. Michael Gendreau, M.D., Ph.D.
	 	 	 
	 	The Company:
	 	 	 
	 	Virios Therapeutics, LLC
	 	 	 
	 	By:	/s/ Greg Duncan
	 		Greg Duncan
	 	 	Its Chief Executive Officer

 

[Signature Page
to Employment Agreement]

 

    	 	 	 

     

    

 

APPENDIX A

 

STOCK OPTION EXERCISE NOTICE

 

Virios Therapeutics, Inc.

Attention: Greg Duncan, Chief Executive Officer

____________________________

____________________________

 

Pursuant to the terms
of the grant notice and Employment Agreement between the undersigned and Virios Therapeutics, Inc. (the “Company”)
dated September 10, 2020 (the “Agreement”), I, Michael Gendreau, M.D., hereby [Circle One] partially / fully exercise
such option by including herein payment in the amount of $______ representing the purchase price for [Fill in #______ of shares
of common stock] shares of common stock of the Company (the “Stock”). I have chosen the following form(s) of payment:

 

	 	[ ]	1.	Cash
	 	[ ]	2.	Certified or bank check payable to the Company
	 	[ ]	3.	Payment to be offset against any amount owed to Employee from the sale event or dividend event immediately following exercise of this Option as a result of Employee owning the Stock.
	 	[ ]	4.	Other (as referenced in the Agreement and described in the Plan (please describe)) _____________________________________________________.

 

In connection with
my exercise of the option as set forth above, I hereby represent and warrant to the Company as follows:

 

a.               I am purchasing the Stock for my own account for investment only, and not for resale or with a view to the distribution
thereof.

 

b.               I have had such an opportunity as I have deemed adequate to obtain from the Company such information as is necessary to
permit me to evaluate the merits and risks of my investment in the Company and have consulted with my own advisers with respect
to my investment in the Company.

 

c.               I have sufficient experience in business, financial, and investment matters to be able to evaluate the risks involved in
the purchase of the Stock and to make an informed investment decision with respect to such purchase.

 

d.               I can afford a complete loss of the value of the Stock and am able to bear the economic risk of holding such Stock for an
indefinite period of time.

 

    	 	 	 

     

    

 

e.                  I
understand that the Stock may not be registered under the Securities Act of 1933 (it being understood that the Stock is being
issued and sold in reliance upon an applicable exemption thereto) or any applicable state securities or “blue
sky” laws and may not be sold or otherwise transferred or disposed of in the absence of an effective registration
statement under the Securities Act of 1933 and under any applicable state securities or “blue sky” laws (or
exemptions from the registration requirement thereof). I further acknowledge that if certificates representing Stock are
issued, they will bear restrictive legends reflecting the foregoing and/or that book entries for uncertificated stock will
include similar restrictive notations.

 

f.                   I
have read and understand the bylaws and buy-sell agreement of the Company and acknowledge and agree that the Stock is subject
to all of the relevant terms therein.

 

g.                 I understand and agree that the Company may have a right of first refusal with respect to the Stock pursuant to the bylaws
and buy-sell agreement of the Company.

 

h.                 I understand and agree that the Company may have certain repurchase rights with respect to the Stock pursuant to the bylaws
and buy-sell agreement of the Company.

 

i.                  
I understand and agree that I may not sell or otherwise transfer or dispose of any Stock for a period of time following
the effective date of a public offering by the Company as described in any applicable “lock-up” agreement or applicable
law.

 

	 	Sincerely yours,
	 	 	 
	 	 
	 	R. Michael Gendreau, M.D., Ph.D.
	 	 	 
	 	Address:	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	Date:

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