Document:

Exhibit 10.1

 

INVESTIGATOR INITIATED-CLINICAL TRIAL AGREEMENT

 

This Investigator-Initiated
Clinical Trial Agreement ("Agreement") effective this 3rd day of August, 2020, (the
"Effective Date") is by and between ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI, a non-profit corporation, having its principal
offices at One Gustave L. Levy Place, New York, NY 10029 ("INSTITUTION") and XORTXTherapeutics ("COMPANY"),
a Canadian corporation, having its principal offices at Suite 4000, 421-7th Avenue Calgary,
Alberta, Canada. INSTITUTION's faculty employee Steven Coca, M.D. ("PRINCIPAL INVESTIGATOR") shall be the Sponsor-Investigator
under this Agreement, and shall conduct this Study as an employee of lnstitution and not as a party to this Agreement.

 

WHEREAS, the COMPANY
wishes to fund and desires that the INSTITUTION undertake a clinical trial in the field of Nephrology and acute kidney injury due
to COVID-19; and

 

WHEREAS, in furtherance
of its scholarly, research, and advancing patient care interests, the INSTITUTION is willing to undertake such clinical trial upon
the terms and conditions set forth below in a manner consistent with its status as a not-for-profit research and education institution;

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:

 

		1.	PRINCIPAL INVESTIGATOR

 

PRINCIPAL INVESTIGATOR
agrees to conduct a clinical study ("Study") according to the protocol (Exhibit A, incorporated herein by this reference,
"Protocol"), which has been approved by the INSTITUTION, its Institutional Review Board and the COMPANY. Any statement
in the Protocol which is inconsistent with this Agreement is superseded by the Agreement. The PRINCIPAL INVESTIGATOR agrees to
devote his/her reasonable efforts to perform the work required under this Agreement efficiently.

 

    	 		 

     

    

 

PRINCIPAL INVESTIGATOR
and INSTITUTION represent that they have the requisite and necessary experience, equipment, facilities and personnel to conduct
the Study properly.

 

		2.	CONDUCT OF THE STUDY

 

INSTITUTION and PRINCIPAL
INVESTIGATOR agree to perform the Study according to the Protocol, and in accordance with all applicable rules and regulations.
INSTITUTION shall ensure that an Institutional Review Board ("IRB"), established and constituted in accordance with applicable
laws and regulations, oversees the conduct of the Study and is fully compliant with 21 C.F.R. §
56. INSTITUTION and PRINCIPAL INVESTIGATOR shall comply with the directives of the IRB respecting the conduct of the Study.
Notwithstanding the foregoing, INSTITUTION and PRINCIPAL INVESTIGATOR agree not to implement any deviation from or changes to the
Protocol without prior IRB approval, except as necessary to protect the safety, rights or welfare of a patient enrolled in the
Study. COMPANY acknowledges that the primary mission of INSTITUTION is health care, education, research and the advancement of
knowledge, and consequently, all services provided by INSTITUTION under this Agreement will be performed in a manner best suited
to carry out that mission. INSTITUTION does not guarantee specific results of the Study.

 

		3.	COSTS & FUNDING

 

COMPANY shall provide
funds to conduct the Study as described in this paragraph. Payment of the sums due under this agreement shall be made according
to the Budget and Payment Schedule, attached as Exhibit(s) A and B.

 

It is agreed that payment of the sums due under this
agreement shall be made payable to:

 

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ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI (EIN #
13-6171197) and sent to:

 

Icahn School of Medicine at Mount
Sinai

 

Division ofNephrology

 

One Gustave L.
Levy Place, Box 1243

 

New York, NY 10029

 

Attention: Treneon Chan

 

		4.	TERM AND TERMINATION

 

a.     This
Agreement shall expire upon the earlier of the completion of the Study or three (3) years from the Effective Date (the "Term").
In the event that either party defaults or breaches any material provision of this Agreement, the other party may terminate this
Agreement upon thirty (30) days written notice to the party in default or breach; provided,
however, that if the party defaulting, breaching, or failing, within thirty (30) days of the
receipt of such notice cures the said default, breach or failure; the Agreement will continue in force and effect.

 

b.     This
Agreement may be terminated by either party, upon immediate prior notice, if the authorization and approval to perform the Study
in the United States is withdrawn by the FDA or, if the emergence of any adverse reaction or side effect with the drug administered
or the device employed in the Study is of such magnitude or incidence in the opinion of either the COMPANY or INSTITUTION to support
termination.

 

c.     If
either party should become insolvent or should make any assignment for the benefit of creditors,
or should be adjudged bankrupt, or should file a petition in bankruptcy, or is named as debtor in an involuntary bankruptcy proceeding,
or if a receiver or trustee of the property of either party is appointed, then this Agreement, at the option of the other party,
will terminate, effective on the date notice of such te1mination is given.

 

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d.    Should
COMPANY terminate this Agreement, COMPANY will reimburse INSTITUTION for all expenditures and non-cancelable commitments incurred
prior to termination not to exceed the total amount of the Agreement.

 

e.     In
the event the PRINCIPAL INVESTIGATOR should leave the faculty at the INSTITUTION, and the parties cannot find a qualified replacement
that is mutually acceptable, the INSTITUTION retains the option to terminate this Agreement.

 

		5.	NOTICES

 

Any notices given under this agreement shall
be in writing and shall be deemed delivered when sent by first-class mail, postage prepaid, addressed to the parties as follows:

 

	INSTITUTION	COMPANY
	 	 
	
        ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI

        One Gustave L Levy Place, Box 1251

        New York, New York

        Attn: Rosaria McEntee, Director of Finance
	
        XORTX Therapeutics Inc

        Suite 4000, 721, 7th
        Avenue

        Calgaiy, Alberta, T3H 5Z7

        Attn: Allen Davidoff, CEO

	 	 
	With a copy to Principal Investigator:	 

 

ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI

Division ofNephrology

One Gustave L. Levy
Place, Box 1243 

New York, NY 10029

Attention: Treneon Chan

 

		6.	CONFIDENTIAL INFORMATION

 

"Confidential
Information" means information that a party owns or controls and maintains as confidential that such party discloses (as the
"Disclosing Party") to the other party (as the "Receiving Party") during the Term, including without limitation,
any such information regarding products or services, research, data, prototypes, samples, software, inventions, processes,
formulas, technology, designs, drawings, hardware configurations, business and marketing. For clarity, "Confidential Information"
includes the foregoing information of a third party in possession of Disclosing Party, that Disclosing Party has a legal right
to disclose to Receiving Party under terms of confidentiality as set forth herein.

 

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The Receiving Party will:

 

		a.	use Disclosing Party's Confidential Infom1ation only in connection with the Study and only during
the Term; for clarity the any allowed use of Confidential Information contained herein expressly excludes any use of Disclosing
Party's Confidential Information for regulatory or patent filing purposes, or for initiation or pursuit of any proceeding to challenge
the patentability, validity, or enforceability of any patent application or issued patent (or any portion thereof) that is owned
or controlled by Disclosing Party (including e.g. via pre-issuance submissions, post grant review, or inter partes review). Any
such excluded use is hereby deemed a material breach of this Agreement;

 

		b.	not disclose Disclosing Party's Confidential Information to any person other than those entitled to receipt under subsection
d below without Disclosing Party' s prior written permission;

 

		c.	use at least the same degree of care to maintain the confidentiality of Disclosing Party's Confidential
Information as the Receiving Party uses in maintaining the confidentiality of its own confidential information, but always at least
a reasonable degree of care;

 

		d.	restrict disclosure of Disclosing Party's Confidential Information solely to those employees and faculty of Receiving Party
having a reasonable need to know such Confidential information
in order to accomplish the Study, provided however, that with respect to third party Confidential Information disclosed hereunder,
such disclosure shall be pe1mitted only if and to the extent not prohibited by the Disclosing Party's agreement with such third
party;

 

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		e.	advise each such employee and faculty, before he or she receives access to the Confidential Information,
of the obligations of Receiving Party under this Agreement, and require each such employee and faculty to comply with those obligations;
for clarity, each Receiving Party shall be fully responsible to the Disclosing Party for such compliance by its employees and faculty;
and

 

		f.	within fifteen (15) days of the sooner of: (i) the
expiration or termination of this Agreement or; (ii) the written request of the Disclosing Party, return to Disclosing Party all
documentation, copies, notes, diagrams, computer memory media and other materials containing any portion of the Disclosing Party's
Confidential Information, or confirm to Disclosing Party in writing, the destruction of such materials, except for a single copy
of such Confidential Information that the Receiving Party may keep solely for the purpose of monitoring its obligations under this
Agreement.

 

This
Agreement imposes no obligation on Receiving Party with respect to any portion of the Confidential Information received from
Disclosing Party that Receiving Party demonstrates with competent written and/or electronic records: (a) was known to
Receiving Party prior to disclosure by Disclosing Party, (b) is or becomes generally known or publicly available other than
by unauthorized disclosure by Receiving Party or its employees or faculty, (c) is lawfully obtained by Receiving Party from a
third party under no obligation of confidentiality, or (d) is independently developed by the Receiving Party without use of
Confidential Information disclosed by the Disclosing Party, as demonstrated by written and/or electronic records created
contemporaneously with such independent development. In addition, Receiving Party may disclose Confidential
Information of Disclosing Party to the extent required by law, court order, or other legal authority with jurisdiction,
provided that the Receiving Party promptly informs the Disclosing Party in writing of such requirement (to the extent legally
permissible) and complies, at the Disclosing Party's written request and expense, with the Disclosing Party' s legal efforts
to prevent or limit the scope of such required disclosure. In the event such legally compelled disclosure is made as
permitted hereunder, Receiving Party shall continue in all other ways to maintain the confidentiality obligations and use
restrictions herein with respect to such information.

 

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Nothing in this Agreement
obligates Disclosing Party to disclose its Confidential Information, but to the extent it does so, Disclosing Party: (a) will
disclose Confidential Information in a written document or machine readable media marked as "confidential" or
if the disclosure takes oral or other intangible f01m, (b) will summarize such disclosure in a written memorandum marked "confidential"
transmitted to Receiving Party within thirty (30) days of the intangible disclosure; provided,
however, that failure to so mark or summarize Confidential Information shall not compromise or alter its confidential
status if a reasonable person would recognize, based upon its content and/or the context of its disclosure, that such disclosure
was intended as confidential.

 

All data and/or results
generated by the PRINCIPAL INVESTIGATOR, or those under direct supervision of PRINCIPAL INVESTIGATOR while performing the Study
(the "Study Results") are Confidential Information of INSTITUTION.

 

The obligations of
this Section shall expire          after termination or expiration of this Agreement.

 

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		7.	PUBLICATION

 

The PRINCIPAL INVESTIGATOR
is free to communicate and/or publish with respect to the Study being conducted hereunder without the prior approval of COMPANY.
However, with respect to any proposed publication of the Study Results, the PRINCIPAL INVESTIGATOR agrees to submit to COMPANY
a summary of the proposed publication at least thirty (30) days prior to the submission thereof for publication. The purposes for
such prior submission are: (i) to provide COMPANY with the opportunity to review and comment
on the contents of the proposed publication, and (ii) to identify any Confidential Information to be deleted from the proposed
publication. COMPANY shal1 provide any comments to PRINCIPAL INVESTIGATOR or identify any of COMPANY's Confidential Info1mation
to be deleted from the proposed publication within thirty (30) days of receipt of the proposed publication. At the end of the thirty
(30) day period, INSTITUTION shall be free to proceed with publication. If the event deletion
of COMPANY Confidential Information from the proposed publication will materially and adversely affect INSTITUTION's ability to
support its scientific conclusions, COMPANY agrees to provide INSTITUTION alternative non-confidential information adequate to
al1eviate such defects. No other release of any information relating to the Study which uses COMPANY's name or INSTITUTION's name
(or any of the foregoing's employees, faculty, students, directors, trustees, officers, or other representatives) or any adaptation
of any of the foregoing, shall be made to any news medium (including press releases) without prior written consent of the party
whose name is to be used.

 

INSTITUTION will register
Study with a public clinical trials registry in accordance with applicable laws and regulations.

 

		8.	INTELLECTUAL PROPERTY

 

a)       Ownership
of Intellectual Property. As used herein, "Intellectual Property" or "IP" means all technical
information, inventions, developments, discoveries, Study Data, software, know-how, methods, techniques, formulae, processes and
other prop1ietary property, whether or not patentable or copyrightable. It is expressly agreed
that neither the COMPANY nor INSTITUTION transfers by operation of this Agreement to the other party any Intellectual Property
owned by a party as of the commencement date of this Agreement or developed by a pai1y outside of the Study. As this Agreement
is for an Investigator-Initiated Study, inventorship of any Intellectual Property shall be determined in accordance with inventorship
principles of United States Patent Law. Any Intellectual Property first conceived and reduced to practice in performance of the
Study during the Term solely by employees, agents, and/or independent contractors of INSTITUTION shall be the sole property of
INSTITUTION ("Sole Inventions"). Any Intellectual Property first conceived jointly in the performance of the
Study during the Term by at least one employee, agent, and/or independent contractor of INSTITUTION and at least one employee,
agent, and/or independent contractor of COMPANY shall be jointly owned by COMPANY and INSTITUTION ("Joint Inventions").

 

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b)       Disclosure
of Intellectual Property. Mount Sinai's technology and business development office, Mount Sinai Innovation Partners ("MSIP"),
will provide COMPANY with a confidential written disclosure of any Sole Invention or Joint Invention ("Invention Notice"),
after MSIP's receipt of such disclosure from PRINCIPAL INVESTIGATOR, whether patentable or not, and COMPANY shall hold such Invention
Notice strictly confidential. COMPANY will advise INSTITUTION in writing, no later than forty-five (45) days after receipt of such
disclosure, whether it requests INSTITUTION to file and prosecute patent applications claiming such Sole Invention or Joint Invention.
If Company does not request Mount Sinai to file and prosecute such patent applications, INSTITUTION
may proceed with such preparation and prosecution at its own cost and expense; but such patent applications (and any patents resulting
therefrom) will be excluded from COMPANY's option under set f011h below and, with respect to Joint Inventions, COMPANY will assign
all of its rights therein promptly to INSTITUTION.

 

c)       INSTITUTION
will control the preparation and prosecution of all patent applications and the maintenance of all patents related to Joint Inventions
and Sole Inventions. COMPANY will reimburse INSTITUTION within sixty (60) days of receipt of invoice for all documented expenses
incurred in connection with the filing and prosecution of the patent applications and maintenance of the patents that COMPANY has
requested INSTITUTION to prosecute hereunder.

 

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d)       In
consideration of Sponsor's payment for intellectual property expenses as provided for herein, INSTITUTION will grant to COMPANY
the exclusive option to negotiate a fee, milestone, and royalty bearing license to practice INSTITUTION's rights in Sole Inventions
and Joint Inventions, including the right to make, use, sell, offer for sale and import any such inventions claimed or otherwise
included therein, but only with respect to patent applications filed at COMPANY's request in accordance with the terms of this
Agreement. Sponsor shall have one hundred and twenty (120) days after receipt of notice of such Sole Invention, to exercise such
option by providing written notice to INSTITUION. INSTITUTION and COMPANY will negotiate in good faith to determine the terms of
a license agreement as to each item of such intellectual property for which COMPANY has agreed to make payment for intellectual
property expenses as provided for herein. If the parties fail to execute such a license agreement within six (6) months after disclosure
of the Sole Inventions and/or Joint Inventions to COMPANY or if COMPANY fails to make payment for intellectual property expenses
as provided for herein, then INSTITUTION will be free to license such intellectual property to any party upon terms that INSTITUTION
deems appropriate, without any further obligation to COMPANY.

 

e)       Any
exclusive license granted to COMPANY pursuant to this Agreement will be subject to: (a) the licensee's obligation to pay related
patent expenses directly to the responsible law firm under a client and billing agreement to be executed contemporaneously with
such license; (b) the retained rights of INSTITUTION to use such rights for academic research, teaching, and patient care purposes
and; (c) as applicable, to the rights of the United States government including as reserved under Public Laws 96-517, 97-256 and
98-620, codified at 35 U.S.C. 200-212, and any regulations issued thereunder.

 

		9.	INDEMNIFICATION

 

The
COMPANY will defend, indemnify and hold harmless PRINCIPAL INVESTIGATOR and INSTITUTION, their trustees, officers, agents, and
employees from any liability, loss or damage, they may suffer as the result of claims, demands, cases or judgments
against them arising from the manufacture of any study drugs or devices provided by COMPANY to INSTITUTION for use in the Study,
or arising from COMPANY's use of Study Results received from INSTITUTION, provided that (i) INSTITUTION promptly notifies COMPANY
in writing after Institution receives notice of any claim, (ii) INSTITUTION is given the opportunity, at its option, to participate
and associate with COMPANY in the control, defense and trial of any claim and related settlement negotiations COMPANY shall settle
no action for which it indemnifies INSTITUTION without INSTITUTION's prior written consent, with respect to statements implicating
liability or fault on the part of INSTITUTION or obligating INSTITUTION to perform or refrain from any act (other than payment
on claims to be indemnified in full by COMPANY).

 

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		10.	RELATIONSHIP OF THE PARTIES

 

The relationship of
COMPANY and INSTITUTION established by this Agreement is that of independent contractors. Nothing in this Agreement shall be construed
to create a relationship of employment or agency, nor shall either party's employees, servants, agents, or representatives be considered
the employees, servants, agents, or representatives of the other. Nothing in this Agreement shall be construed to constitute the
parties as partners or joint venturers, or allow either of the parties to create or assume any obligation on behalf of the other
party.

 

		11.	RECORDS AND REPORTS

 

INSTITUTION shall furnish
COMPANY with copies of Study Results documents upon request, provide information regarding Study progress and allow COMPANY access
to Study Results upon request, at mutually agreeable times during normal business hours. All Private Healthcare Information shall
be deleted from any Study data provided to COMPANY. Upon completion of the research or termination of the Agreement, INSTITUTION
will submit a written study report. This report will be due sixty (60) days after termination of this Agreement. INSTITUTION shall
maintain all Study Results for as long as required by applicable laws and regulations.

 

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		12.	MATERIALS

 

The COMPANY will provide
the PRINCIPAL INVESTIGATOR with sufficient quantities of the COMPANY's drug / device/ INSERT at no charge for use in the Study.
PRINCIPAL INVESTIGATOR shall return to COMPANY any remaining supply of the Drug / Device/ INSERT after completion or termination
of the Study. INSTITUTION shall conduct the Study in accordance with any written instructions provided by COMPANY in regards to
use of Drug I Device. If COMPANY
provides INSTITUTION with any proprietary study drugs and/or devices for use under the Study, such COMPANY proprietary materials
will be used solely for the Study and not for any other purposes. INSTITUTION and PRINCIPAL INVESTIGATOR shall be responsible for
compliance with all laws and regulations applicable to any destruction or disposition of COMPANY proprietary materials used under
the Study. INSTITUTION and PRINCIPAL INVESTIGATOR will inform all potential Study participants that the proprietary study drugs
and/or devices are being used for investigational purposes. Prior to using any proprietary study drugs and/or devices of COMPANY,
PRINCIPAL INVESTIGATOR shall read and understand all information in the investigator's brochure, including the potential risks
and side effects of the drug. Upon completion or termination of this Study, INSTITUTION shall return, at COMPANY's expense, or
destroy any remaining COMPANY proprietary materials at the direction and request of COMPANY.

 

		13.	GOVERNING LAW

 

This agreement shall
be interpreted and enforced under the laws of the State of New York, without giving effect to any conflicts-of-laws principles
to the contrary. The Parties hereby submit to the exclusive jurisdiction of and venue in any state or federal courts located in
the city of New York with respect to any and all disputes concerning or otherwise arising under this Agreement.

 

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		14.	CHANGES

 

This Agreement and
any Exhibits hereto constitutes the entire understanding of COMPANY and INSTITUTION with regard to the subject matter hereof. No
changes, amendments or alterations shall be effective unless in writing and signed by both parties.

 

		15.	COMPLIANCE WITH HIPAA

 

INSTITUTION agrees
to comply with all applicable state and federal laws and regulations, including the Health Insurance Portability and Accountability
Act of 1996, as codified at 42 U.S.C. § 1320d ("HIPAA") and any current and future regulations promulgated thereunder.
Both parties agree that the use of data generated under this Study shall be governed by the terms and conditions of the Informed
Consent and HIPAA authorization fom1s, which have been or will be approved by INSTITUTION's IRB. Terms and conditions of this Agreement
shall not supersede or modify the use of data terms and conditions listed in the Informed Consent and HIPAA authorization forms.
PRINCIPAL INVESTIGATOR will ensure that the requirements relating to and obtaining Informed Consent and IRB review and approval
are met. Any use or disclosure of Private Healthcare Information by COMPANY shall be subject to the applicable consent form and
authorization documents.

 

		16.	USE OF NAME

 

Neither party shall
use any other party's name in advertising, promotions, or other commercial materials without the prior express written consent
of the party to be named. Company reserves the right, upon the review and consent of the Institution and Principle Investigator
to report the existence of this Agreement in a press release, such consent shall not be unreasonably denied In particular, Company
reserves the right to publish " topline" results of this study in a press release, subject to review and consent of the
Institution and Principle Investigator, such consent shall not be unreasonably denied.

 

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		17.	CONFLICT OF INTEREST

 

In
order to avoid the potential for conflicts of interest as well as the appearance of such, PRINCIPAL INVESTIGATOR agrees
that during the term of this Study he/she will not hold any shares of stock of COMPANY or options to purchase shares of stock of
COMPANY without the prior written consent of COMPANY and notice to INSTITUTION of such, and that he/she will not purchase or sell,
whether for his own account or the account of any other person or entity, shares of COMPANY stock. In addition, PRINCIPAL INVESTIGATOR
will make all sub-investigators aware of this provision which shall be fully applicable to them.

 

		18.	FORCE MAJEURE

 

INSTITUTION shall not
be liable for any failure to perform as required by this Agreement, to the extent such failure to perform is caused by any reason
beyond control, or by reason of any of the following: labor disturbances or disputes of any kind, accidents, failure of any required
governmental approval, civil disorders, acts of aggression, acts of God, energy or other conservation measures, failure of utilities,
mechanical breakdowns, material shortages, disease, or similar occurrences.

 

		19.	ENTIRE AGREEMENT: AMENDMENTS

 

This Agreement and
the Exhibits hereto contain the entire agreement between the parties with respect to the subject matter herein. No amendments or
modifications to this Agreement shall be effective unless made in writing and signed by authorized representatives of both parties.

 

		20.	SEVERABILITY

 

In the event that a
court of competent jurisdiction holds any provision of this Agreement to be invalid, such holding shall have no effect on the remaining
provisions of this Agreement, and they shall continue in full force and effect.

 

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		21.	DEBARMENT

 

INSTITUTION will not use in any capacity
the services of any individual, corporation, partnership or association which:

 

		(1)	has been debarred under 21 U.S.C. 335a

 

		(2)	has been disqualified as a clinical investigator under the provision of 21 C.F.R. 312.70.

 

In the event that INSTITUTION
becomes aware of the debarment or disqualification of any such individual, corporation, partnership or association providing services
under this Agreement, INSTITUTION shall notify COMPANY.

 

		22.	SURVIVAL

 

The following shall survive termination
of this Agreement: Sections 6, 7, 8, 9, I 0, 12, 13, 14, 15, 18, 19, 21 and 22.

 

		23.	PARTIES TO THIS AGREEMENT

 

Notwithstanding anything in this Agreement
to the contrary, the PRINCIPAL INVESTIGATOR is not a party to this Agreement and INSTITUTION will be fully and solely responsible
for all obligations of PRINCIPAL INVESTIGATOR hereunder.

 

The persons executing this Agreement represent
and warrant that they have the full power and authority to enter into this agreement on behalf of the persons or entities they
are signing on behalf of.

 

(Signature page follows)

 

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	INSTITUTION	 	Company
	 	 	 	 	 
	BY:	/s/ Rosaria McEntee	 	BY:	/s/ Dr. Allen Davidoff
	 	 	 	 
	Name: Rosaria McEntee	 	Name: Dr. Allen Davidoff
	 	 	 
	Title: Director of Finance	 	Title: C.E.O., XORTX Therapeutics
	 	 	 	 	 
	Date:	8/3/2020	 	Date:	Aug 3, 2020
	 	 	 	 	 
	Read and Acknowledged by:	 	 	 
	 	 	 	 	 
	Steven Coca, M.D.	 	 	 
	 	 	 	 
	/s/ Steven Coca	 	 	 
	 	 	 	 	 
	Principal Investigator	 	 	 
	 	 	 	 	 
	Date:	8/3/2020	 	 	 

 

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APPENDIX A:

 

Characterization of COVID-19 progression
and Markers of Acute Kidney Injury XORTX Therapeutics Inc.

 

COVID-19 shares similar symptoms and progression
to other viral infections that can lead to acute kidney injury-such as SARS, MERS and influenza. Recent unpublished discussions
with physicians at Mount Sinai NY and University of Colorado who are actively treating patients with COVID-19 report that many
individuals have very high uric acid levels. Purine xanthine oxidase inhibitors (like Oxypurinol) have been used in the past for
treatment of acute kidney injury such as tumor lysis syndrome, suppressing uric acid production and oxygen radical mediated injury.
The source of increased uric acid levels is poorly characterized at present, although often associated with pulmonary infection
injury (influenza), decreased VO2, cytokine storm, vascular injury, kidney injury. Regardless of the source of increased circulating
uric acid levels, acute kidney injury is a reliably reproducible result when uric acid concentrations exceed 7 mg/dL and xanthine
oxidase inhibition is an established method of protecting kidney health.

 

High circulating uric acid is frequently
associated with acute kidney injury, with creatinine concentration in the serum acting as a marker of acute kidney injury. Proteinuria
is also associated with high uric acid and decrease uric acid via xanthine oxidase inhibition is associated with decreasing proteinuria
in the setting of chronic injury.

 

XORTX is seeking information gathered from
COVID-19 patients to understand whether Uric Acid predict outcomes in individuals with COVID-19 infection.

 

Aim 1: To examine
the independent association of serum uric acid and other clinical predictors for major adverse kidney events and death (MAKE-D)
in patients hospitalized with COVID-19.

 

Sample
size: 5000+ admitted with COVID-19 to the Mount Sinai Health System

 

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	Table. 1. Baseline Characteristics of Patients Admitted to MSHS with COVID-19 through May 20, 2020
	 	All 

(n=5737)	
        AKI

        (n= 3112)
	No AKI

 (n= 2625)
	Age, median (IQR)	65 (54-77)	69 (59-79)	60 (46-72)
	Female, n (%)	2506 (42.3)	1218 (39)	1288(49)
	Race/Ethnicity, n (%)
	White	1372 (24)	738 (24)	634 (24)
	Black	1602 (28)	938 (30)	664 (25)
	Hispanic	1706 (30)	862 (28)	844 (32)
	Asian	275 (5)	158 (5)	117 (5)
	Other or unknown	782 (14)	416(13)	366 (14)
	Comorbidities, n (%)
	Hypertension	1914 (33)	1297 (42)	617 (24)
	Congestive Heart

Failure	388(7)	294 (9)	94 (4)
	Diabetes Mellitus	1266 (22)	895 (29)	371 (14)
	Asthma	271 (5)	131 (5)	120 (5)
	COPD	228 (4)	155 (5)	73 (3)
	Pre-existing CKD	646 (11)	559 (18)	87 (3)
	Liver Disease	126 (2)	87 (3)	39 (2)

 

baseline > 24 hours after admission

 

Inclusion Criteria (all of the following):

-Adults (aged 2:18 years)

-Hospitalizedwith confirmed diagnosis
of COVID-19

-Admission > 24 hours

-At least one serum uric acid and one serum
creatinine value beyond

 

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Exclusion Criteria

-Stage 5 CKD or ESRD

-Transfer from outside hospital (not at
the start of disease course of severe illness and lack of baseline/prior uric acid and serum creatinine values)

-fewer than 2 serum creatinine measurements
available in hospital

 

Outcomes and Definitions:

Acute Kidney
Injury (AKI) and AKI Stages will be defined using KDIGO creatinine criteria. Baseline serum creatinine will be defined as the last
available creatinine measurement between 7 and 365 days before admission. All in hospital
serum creatinine measurements will be used to determine AKI.

 

MAKE-D (Make Adverse Kidney Events) will
be defined as the acute need for dialysis or a 50% increase in serum creatinine OR death.

 

Data Analysis:

For Aim 1, we will describe event rates
of AKI, severe AKI, dialysis, complications from AKI and death in the hospitalized COVID patients. Overall rates will be reported
as well as stratified by important confounders such as age, race and baseline kidney function (CKD stage prior to admission).
We will employ multivariable cox proportional hazard models with time varying covariates to assess the risk for in-hospital death
by AKI and to assess the independent clinical predictors of MAKE in hospitalized COVID patients. The primary independent variable
to be assessed will be serum uric acid at baseline. Baseline covariates will include demographics, baseline kidney function (serum
creatinine), severity of illness scores, vital signs, measures of hypoxemia, other key laboratory values such as CPK, medications
including ACEi/ARB, BMI, and comorbidities. Time zero will be the date of hospital admission. Patients will be censored at the
time of discharge.

 

The analyses will be repeated using a
repeated measures Cox proportional hazards models take into account serial measures of serum uric acid as the independent
variable. Other key covariates (potassium, pH, phosphate, blood pressure) will also be included as repeated measures
covariates. In addition, we will use mediation analysis will be used to investigate the strength of the evidence that the
association between uric acid and the clinical outcomes was a causal effect severe hyperuricemia. Cox proportional hazards
regression models for death will be fitted with the baseline risk factors and baseline risk factors plus uric acid. The
proportion of effect explained by hyperuricemia will be calculated on the change to the baseline risk factor coefficient
after adding uric acid to the cox regression model and the variance derived using the delta method (SAS MEDIATE macro).
Mediation analysis will be completed separately for each baseline risk factor of interest.

 

Aim 2:To assess the trajectory of
longitudinal changes in serum uric acid, serum potassium, phosphate in patients with and without AKI.

Hypothesis: Time-updated fluctuations in serum uric acid will
associate with clinical outcomes. Comparisons will be made by mixed-model repeated measures analysis of covariance with a subject
random effect to account for the fact that multiple measurements within a participant over time are not independent.

 

    	 	19	 

     

    

 

We will test models with different numbers
of trajectory groups and different forms of potential trajectories (linear, quadratic, or cubic) for the best model fit, assessed
with the Bayesian Information C1iterion. We will compare the slopes of the biomarker trajectory groups using the "TRAJTEST"
macro.

 

After we derive the trajectory groups,
we will compare their risks of the kidney outcome using weighted Cox models. We will use a multivariable modeling strategy to adjust
for potential confounding, including time updated covariates (including serum potassium, phosphate, pH, CPK).

 

We will attempt to identify a threshold of serum uric acid at
various points in time in hospitalization that associate with high-risk for MAKE-D.

 

    	 	20	 

     

    

 

APPENDIX B:

 

 

 

 

 

 

 

    	 	21Exhibit
10.2

 

THIS EMPLOYMENT AGREEMENT
is made as of the 1st day of January, 2018.

 

BETWEEN:

 

XORTX Pharma Corp.,
a company continued under the laws of Canada (hereinafter called the “CORPORATION")

 

-and-

 

Allen Davidoff, an
individual residing in the City of Calgary, in the Province of Alberta (hereinafter called the "EMPLOYEE")

 

WHEREAS
the CORPORATION is principally engaged in the business of biotechnology research and development, and in particular developing
drugs and therapeutics and accumulating and protecting intellectual property in respect of the foregoing;

 

AND WHEREAS
the CORPORATION is desirous of employing the EMPLOYEE on the terms, conditions and for the considerations as hereinafter set
forth and the EMPLOYEE wishes to accept such employment with the CORPORATION;

 

AND WHEREAS
the parties desire to enter into this Agreement to set forth their respective rights and obligations;

 

NOW
THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises, the mutual covenants and agreements herein contained
and other good and valuable consideration, the parties hereto mutually covenant and agree as follows:

 

ARTICLE 1- CONTRACT FOR
SERVICES

 

		1.1	Subject
                                         to the earlier termination of this Agreement as hereinafter provided, the CORPORATION
                                         hereby agrees employ the EMPLOYEE as President and Chief Executive Officer in accordance
                                         with the terms and provisions hereof.

 

		1.2	The EMPLOYEE
                                         shall be responsible for and shall have such authority as is consistent with the position
                                         of President and Chief Executive Officer of the CORPORATION all subject to the power,
                                         direction and control of the Board of Directors of the CORPORATION.

 

		1.3	Notwithstanding
                                         Section 1.2 hereof, the EMPLOYEE'S services hereunder shall be provided on the basis
                                         of the following terms and conditions:

 

		(a)	The
                                         EMPLOYEE'S title shall be President and Chief Executive Officer of the CORPORATION;

 

		(b)	the
                                         EMPLOYEE shall faithfully, honestly and diligently serve the CORPORATION and cooperate
                                         with the CORPORATION and utilize maximum professional skill and care to ensure that all
                                         services rendered hereunder are to the satisfaction of the CORPORATION, acting reasonably,
                                         and to provide any other services not specifically mentioned herein, but which by reason
                                         of his capability he knows or ought to know to be necessary to ensure that the best interests
                                         of the CORPORATION are maintained;

 

    	 		 

     

    

 

		(c)	the
                                         EMPLOYEE shall assume, obey, implement and execute such duties, directions, responsibilities,
                                         procedures, policies and lawful orders as may be determined or given by the Board of
                                         Directors of the CORPORATION from time to time and report results of same as may from
                                         time to time be determined by the Board of Directors of the CORPORATION,

 

		(d)	the
                                         EMPLOYEE will, when it is deemed by the CORPORATION to be beneficial, join in or participate
                                         with organizations, clubs, associations or groups that may provide good business contacts
                                         and learning facilities for the benefit of the CORPORATION; and

 

		(e)	the
                                         EMPLOYEE shall have the authority to make the usual contracts necessary to carry on the
                                         business of the CORPORATION in the ordinary course.

 

		1.4	The EMPLOYEE
                                         agrees to devote the whole of his time, attention and best efforts to further the business
                                         and interests of the CORPORATION during the period of this Agreement to the exclusion
                                         of all other employment. Except in the case where the EMPLOYEE is permitted to be a director
                                         and specifically a director of My Path Metabolix Inc.

 

		1.5	It is
                                         acknowledged and agreed between the parties hereto that the services to be provided by
                                         the EMPLOYEE hereunder are of such nature that regular business may be impossible and
                                         that the EMPLOYEE may be required to perform services in excess of eight (8) hours per
                                         day or five (5) days per week. It is also anticipated that there will be certain evenings,
                                         weekends and holidays during which the EMPLOYEE may be required to provide services.
                                         The EMPLOYEE therefore agrees that the consideration herein set forth shall be in full
                                         and complete consideration herein set forth shall be in full and complete satisfaction
                                         for his work and services to be provided hereunder, no matter when and how performed
                                         and the EMPLOYEE releases the CORPORATION from any additional pay or compensation, whatsoever
                                         which he might have by reason of any existing or future legislation or otherwise.

 

		1.6	The services
                                         to be carried out and performed by the EMPLOYEE shall be carried out and performed in
                                         the City of Calgary in the Province of Alberta, or such other places as may be mutually
                                         agreed between the EMPLOYEE and the CORPORATION. It is understood that a reasonable amount
                                         of business travel outside of Calgary may be required.

 

ARTICLE 2 -TERM OF CONTRACT

 

		2.1	Subject to earlier termination pursuant
                                         to the terms hereof, this contract for services shall be for an indefinite term from
                                         and including the date hereof,

 

ARTICLE 3 - COMPENSATION

 

		3.1	In
consideration of the services to be provided by the EMPLOYEE to the CORPORATION pursuant to Article 1 hereof, the CORPORATION
shall pay to the EMPLOYEE                         payable twice per month in equal instalments on the 15th and the last
day of each month during the term hereof

 

    	 		 

     

    

 

		3.2	The EMPLOYEE
                                         shall be reimbursed for all reasonable expenses incurred by him in or about the execution
                                         of his services hereunder, including living expenses while absent from his city of residence,
                                         travel and meeting/entertainment expenses. A11 such expenses shall be verified by statements,
                                         receipts or other reasonable evidence satisfactory to the CORPORATION.

 

		3.3	In accordance
                                         with the terms and conditions of the applicable benefit plan texts, as amended by the
                                         Board of Directors from time the EMPLOYEE shall be entitled to participate in all executive,
                                         medical, dental, and other health care, life insurance, group accident, long term disability,
                                         savings, profit sharing, share option, share purchase and any other benefit plans of
                                         whatsoever nature which the CORPORATION may provide from time to time. The EMPLOYEE understands
                                         and agrees that the CORPORATION monitors such plans and benefits and may, from time to
                                         time, modify or terminate the plans and benefits.

 

		3.4	The CORPORATION
                                         will provide the EMPLOYEE with a parking stall convenient to his location of work.

 

ARTICLE 4- REVIEW OF
COMPENSATION

 

		4.1	The remuneration
                                         payable pursuant to Section 3.1 hereof shall be reviewed by the Board of Directors of
                                         the CORPORATION on or before the anniversary date hereof, and annually thereafter, at
                                         which time the Board of Directors shall consider such matters, as it may consider relevant
                                         and shall determine, in its absolute discretion, whether to increase the annual remuneration
                                         payable by the CORPORATION to the EMPLOYEE hereunder, provided always however, that the
                                         remuneration payable to the EMPLOYEE pursuant to Article 3 hereof sha1l not, as a result
                                         of such review, be reduced.

 

ARTICLE 5 - INCAPACITY

 

		5.1	The EMPLOYEE
                                         shall be entitled to reasonable time from his services, without loss of compensation,
                                         due to sickness or illness or other incapacity.

 

		5.2	In the
                                         event the EMPLOYEE is insured either personally or through the CORPORATION or through
                                         a group plan provided by the CORPORATION for loss of income as a result of disability
                                         and the EMPLOYEE receives compensation or disability income pursuant thereto, then the
                                         amount of remuneration which the EMPLOYEE is otherwise entitled to receive hereunder
                                         during the period of illness or incapacity shall be reduced by the amount of compensation
                                         or disability income paid by such insurer to the EMPLOYEE and the EMPLOYEE covenants
                                         and agrees that he shall immediately advise the CORPORATION from time to time of the
                                         receipt of any such disability income paid by such insurer to the EMPLOYEE.

 

ARTICLE 6 - CONFIDENTIAL
INFORMATION

 

		6.1	The
                                         EMPLOYEE covenants and agrees that during the term hereof and for a period of five (5)
                                         years thereafter, he will keep in strict confidence and shall not use, directly or indirectly,
                                         for any other purpose other than for the purpose of providing services hereunder, all
                                         knowledge, information (whether oral or written) and materials obtained or acquired during
                                         the course of his providing services hereunder relating to the CORPORATION or its business
                                         and affairs. Other than information disclosed or divulged to the Board of Directors and
                                         duly authorized officers and employees of the CORPORATION, the EMPLOYEE will not disclose,
                                         divulge, publish or transfer, or authorize or permit anyone else to disclose, divulge,
                                         publish or transfer or use to his own advantage any such knowledge, materials, business
                                         data or other information obtained pursuant to this Agreement or which relate in any
                                         manner to the business affairs of the CORPORATION, without the prior written consent
                                         of the CORPORATION, which consent may be arbitrarily or unreasonably withheld.

 

    	 		 

     

    

 

		6.2	The obligation of the EMPLOYEE, as
                                         identified in Section 6.1, hereof shall not apply to such knowledge, information, material
                                         or business data obtained pursuant to this Agreement or relating in any manner to the
                                         business affairs of the CORPORATION which:

 

		(a)	was
                                         demonstrably unknown to the EMPLOYEE prior to receipt thereof pursuant to this Agreement;

 

		(b)	is available to the public in
                                         the form of written publication;

 

		(c)	shall
                                         have become available to the EMPLOYEE in good faith from a third party who has a bona
                                         fide right to disclose same; and

 

		(d)	that
                                         information which is required to be disclosed to any federal, provincial, state or local
                                         government or governmental branch, board, agency car instrumentality necessary to comply
                                         with relevant timely disclosure laws or regulatory authorities, including stock exchanges
                                         having jurisdiction in respect of securities of the CORPORATION.

 

ARTICLE 7 - VACATION

 

		7.1	During
the term hereof, the EMPLOYEE shall be entitled             vacation in each calendar
year hereof. The EMPLOYEE understands and agrees that vacation is to be taken at a time mutually agreed upon between the EMPLOYEE
and the CORPORATION.

 

ARTICLE 8 – NON-ASSIGNABILITY

 

		8.1	This
                                         contract for services and all other rights, benefits, and privileges herein conferred
                                         are personal to the EMPLOYEE and accordingly may not be assigned by the EMPLOYEE.

 

ARTICLE 9 -TERMINATION

 

		9.l	Notwithstanding
                                         the term of this Agreement as set forth in Section 2.1 hereof, this Agreement shall be
                                         terminated upon the occurrence of any one of the following events:

 

		(a)	the death of the EMPLOYEE;

 

		(b)	the EMPLOYEE becoming bankrupt
                                         or making an assignment for the benefit of creditors in general;

 

		(c)	thirty (30) days written notice
                                         by the EMPLOYEE of his intention to terminate this Agreement;

 

    	 		 

     

    

 

		(d)	thirty
                                         (30) days written notice by the CORPORATION of its intention to terminate this Agreement
                                         and in conjunction with Section 9.3 below;

 

		(e)	incapacity
                                         due to illness or injury to the EMPLOYEE, such that in the opinion of an independent
                                         medical expert acceptable to the EMPLOYEE (or his legal personal representative) and
                                         the CORPORATION, which will keep the EMPLOYEE from his duties for a period longer than
                                         six (6) consecutive months;

 

		(f)	at
                                         any time by the CORPORATION, without notice, for “Just Cause”("Just
                                         Cause" will include just cause for dismissal at common law in addition to the
                                         conviction of the EMPLOYEE for a indictable criminal offense or the breach by the EMPLOYEE
                                         of any of the material covenants or terms of this Agreement).

 

		9.2	In the
                                         event this Agreement is terminated in accordance with the provisions of subsections 9.1(a),
                                         (b), (c), (e) and (f) hereto the EMPLOYEE shall not be entitled to additional remuneration
                                         hereunder from and after the “Termination Date” (“Termination
                                         Date” means the last day the EMPLOYEE is actively performing his duties at
                                         work, regardless of the reason for termination.)

 

		9.3	If the
                                         CORPORATION terminates this Agreement in accordance with 9.1(d) hereof, the parties agree
                                         that the CORPORATION shall pay to the EMPLOYEE an amount of severance calculated in accordance
                                         with the following, and that such amount shall constitute full and final settlement of
                                         any amounts owing to the EMPLOYEE as a result of such termination:

 

 

 

 

It
is further understood that the EMPLOYEE will sign a Release and Confidentiality Agreement similar to that attached as Schedule
“A” prior to receiving any amounts owing which exceed the minimum entitlements in accordance with the Employment
Standards Code (Alberta), as amended, and the EMPLOYEE will provide all required resignations of any positions he holds in
the CORPORATION.

 

ARTICLE 10 - NON COMPETITION
& NON-SOLICITATION

 

		10.1	The
                                         EMPLOYEE covenants and agrees with the CORPORATION that during the term hereof and for
                                         a period of two (2) years thereafter, he will not, either individually or in partnership
                                         or jointly or in conjunction with any person, association or syndicate, as principal,
                                         agent, shareholder, director, officer, employee or in any other manner whatsoever carry
                                         on or be engaged in or be concerned with or interested in or advise, lend money to, guarantee
                                         the debts or obligations of or permit his name or any part thereof to be used or employed
                                         by any person or persons, including, without limitation, any individual, firm, association,
                                         syndication, company, corporation, or other business enterprise, engaged in or concerned
                                         with or interested in any business or any part thereof presently carried on by the CORPORATION
                                         with respect to its business of any other business at any time during the term hereof
                                         carried on by the CORPORATION, except with written consent of the CORPORATION, which
                                         consent will not be reasonably withheld.

 

    	 		 

     

    

 

		10.2	During
                                         the period identified in Section 10.1, the EMPLOYEE shall not solicit, engage in, assist
                                         or have an interest in or be connected with any person, firm or corporation soliciting
                                         any customer known or ought to be known to the EMPLOYEE to be a customer or business
                                         associate of the CORPORATION.

 

		10.3	During
                                         the period identified in Section 10.1, the EMPLOYEE shall not induce, entice or attempt
                                         to obtain the withdrawal from the CORPORATION of any employee, consultant, contract researcher
                                         or management personnel either before or after the termination of this Agreement.

 

		10.4	If the
                                         CORPORATION ceases to carry on business for a continuous period of six (6) months or
                                         more, then the provisions of Article 6 and Article 10 hereof shall be null and void and
                                         shall cease to have any force and effect after the expiration of the aforesaid period
                                         of time.

 

		10.5	The
                                         EMPLOYEE confirms that the obligations in Sections 10.1, 10.2 and 10.3 of this Agreement
                                         are reasonably necessary for the protection of the CORPORATION and its shareholders and,
                                         given the EMPLOYEE’s knowledge and experience, will not prevent the EMPLOYEE from
                                         being gainfully employed if the EMPLOYEE’s employment with the CORPORATION ends.

 

ARTICLE 11- CHANGE OF
CONTROL

 

		11.1	In
the event that any third party (which third party has a market capitalization of greater than Cdn.$200,000,000 or has an average
daily trading volume of greater than $250,000 (based on the 30 days preceding the date of merger or acquisition and excluding
any unusual block trades)) acquires greater than fifty (50%) of the outstanding common shares of the CORPORATION and, within thirty
(30) days of such acquisition, the EMPLOYEE'S employment with the CORPORATION is terminated by the CORPORATION or the EMPLOYEE,
then the EMPLOYEE shall be entitled to                                 (less any payments received by
or owing to the EMPLOYEE pursuant to Section 9.3 hereof).

 

ARTICLE 12 – INDEMNITY

 

		12.1	The
                                         CORPORATION shall indemnify and save harmless the EMPLOYEE from and against any personal
                                         liability which he incurs in the performance of his employment duties on behalf of the
                                         CORPORATION, with the exception of the following:

 

		(a)	any liability arising from the
                                         EMPLOYEE’s gross negligence or fraud or other acts of willful misfeasance; and

 

		(b)	any liability which the CORPORATION
                                         is prohibited from assuming by law.

 

    	 		 

     

    

 

ARTICLE 13- NOTICES

 

		13.1	All
                                         notices required or allowed to be given under this Agreement shall be made either personally
                                         or by mailing same by prepaid registered post, addressed as hereinafter set forth or
                                         to such other address as may be designated from time to time by such party in writing,
                                         and any notice mailed as aforesaid shall be deemed to have been received by the addresses
                                         thereof on the fifth business day following the day of mailing:

 

If to the CORPORATION:

 

XORTX Pharma Corp.

29 Aspen Park Meadows
S.W.

Calgary, Alberta T3H 5Z7

 

If to the EMPLOYEE:

 

 

 

 

Any
party may, from time to time, change its address for service hereunder on written notice to the other party. Any notice may be
served by hand delivery or by mailing same by prepaid, registered post, in a properly addressed envelope, addressed to the party
to whom the notice is to be given at its address for service hereunder.

 

ARTICLE 14 - SEVERABILITY

 

		14.1	Each
                                         provision of this Agreement is declared to constitute a separate and distinct covenant
                                         and to be severable from all such other separate and distinct covenants. Without limiting
                                         and foregoing, each provision contained in Article 6 and Article 10 hereof, are declared
                                         to-constitute separate and distinct covenants in respect of each capacity and each activity
                                         specified in Articles 6 and 10, and to be severable from all other such separate and
                                         distinct covenants. If any of the capacities, activities or periods specified in Articles
                                         6 and 10, are considered by a court of as being unreasonable, the parties hereto agree
                                         that the said court will have authority to limit such capacities, activities, periods
                                         or areas to such capacities, activities, periods of areas as the court deems proper in
                                         the circumstances.

 

		14.2	If
                                         any covenant or provision herein is determined to be void or unenforceable in whole or
                                         in part, it will not be deemed to affect or impair the enforceability or validity of
                                         any other covenant or provision of the Agreement or any part thereof.

 

ARTICLE 15 - RELIEF

 

		15.l	The
                                         parties to this Agreement recognize that a breach by the EMPLOYEE of any of the covenants
                                         herein contained would result in damages to the CORPORATION and the CORPORATION could
                                         not adequately be compensated for such damages by monetary award. Accordingly, the EMPLOYEE
                                         agrees that in the event of any such breach, in addition to all other remedies available
                                         to the CORPORATION at law or in equity, the CORPORATION will be entitled as a matter
                                         of right to apply to a court of competent equitable jurisdiction of such relief by way
                                         of restraining order, injunction, decree or otherwise, as may be appropriate to ensure
                                         compliance with the provisions of this Agreement.

 

    	 		 

     

    

 

ARTICLE 16 - WAIVER

 

		16.1	The
                                         parties agree that all restrictions in this Agreement are necessary and fundamental to
                                         the protection of the CORPORATION and are reasonable and valid, and all defenses to the
                                         strict enforcement thereof by the CORPORATION are hereby waived by the EMPLOYEE.

 

ARTICLE 17 - GENERAL

 

		17.1	The
                                         parties hereto agree that they have expressed herein their entire understanding and agreement
                                         concerning the subject matter of this Agreement and it is expressly agreed that no implied
                                         covenant, condition, term or reservation or prior representation or warranty shall be
                                         read into this Agreement relating to or the subject matter hereof or any matter or operation
                                         provided for herein.

 

		17.2	The
                                         provisions of this Agreement will enure to the benefit of and be binding upon the heirs,
                                         executors, administrators and legal personal representatives of the EMPLOYEE and the
                                         successors and assigns of the CORPORATION, respectively.

 

		17.3	Wherever
                                         the singular or masculine or neuter is used in this Agreement, the same shall be construed
                                         as meaning the plural or feminine or a body politic or corporate and vice versa where
                                         the context of the parties hereto so require.

 

		17.4	Time is of the essence hereof.

 

		17.5	This
                                         Agreement shall be construed and interpreted in accordance with the laws of the Province
                                         of Alberta and Canada and each of the parties hereto hereby irrevocably attorns to the
                                         jurisdiction of the Courts of such province.

 

IN WITNESS
WHEREOF the parties acknowledge and agree that they have read and understand the terms of this Agreement, and that they have had
an opportunity to seek independent legal advice prior to entering into this Agreement, and that they have executed this Agreement
with full force and effect from the date first written above.

 

	XORTX PHARMA CORP.	 	 	 
	 	 	 	 	 
	Per:	/s/ Alan Moore	 	Per:	/s/ Allen Davidoff
	Alan Moore, Director	 	Allen Davidoff, President
	 	 	 	 	 
	Per:	 /s/ Bruce Rowlands	 	 	 
	Bruce Rowlands, Director	 	 	 
	 	 	 	 	 

SIGNED,
SEALED AND DELIVERED in the presence of:

 

	/s/ Jamie Davidoff	 	/s/ Allen Davidoff
	Witness as to the signature of	 	Allen Davidoff
	Allen Davidoff	 	 
	Jamie Davidoff

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