Document:

Exhibit 10.5

 

Spartacus
Acquisition Corporation

6470
E Johns Crossing, Suite 490, 

Duluth,
GA 30097

 

August
28, 2020 

 

Spartacus
Sponsor LLC

6470
E Johns Crossing, Suite 490,

Duluth,
GA 30097

 

RE:
Securities Subscription Agreement 

 

Ladies
and Gentlemen:

 

This
agreement (the “Agreement”) is entered into on August 28, 2020 by and between Spartacus Sponsor LLC, a Delaware
limited liability company (the “Subscriber” or “you”), and Spartacus Acquisition Corporation,
a Delaware corporation (the “Company,” “we” or “us”). Pursuant to the
terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 7,187,500 shares of Class B common stock,
$0.0001 par value per share (the “Shares”), up to 937,500 of which are subject to forfeiture by you if the
underwriters of the initial public offering (“IPO”) of units (“Units”) of the Company, do
not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s
agreements regarding such Shares are as follows:

 

1. Purchase
of Securities.

 

1.1. Purchase
of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash,
the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject
to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently
with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate
registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such
delivery in book-entry form.

 

2. Representations,
Warranties and Agreements.

 

2.1. Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber
hereby represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1. No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the offering of the Shares.

 

2.1.2. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the
Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or
regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3. Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against
Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent
conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of
equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

     

     

    

 

2.1.4. Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks
and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite
period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be
sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is
capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.
Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration
statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able
to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the
Shares.

 

2.1.5. Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation
and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any
information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on
any other representations or information in making its investment decision, whether written or oral, relating to the Company,
its operations and/or its prospects.

 

2.1.6. Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale
contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7. Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The
Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502 under the Securities Act.

 

2.1.8. Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering
within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing
the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration
under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.

 

2.1.9. No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary
or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

2.2. Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby
represents and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1. Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which
the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the
transactions contemplated by this Agreement.

 

    	 	2	 

     

    

 

2.2.2. No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or By Laws
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3. Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a)
transfer restrictions hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber
in writing, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due
to the actions of the Subscriber.

 

2.2.4. No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection
with any transactions.

 

3. Forfeiture
of Shares.

 

3.1. Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the IPO
is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of Shares)
shall forfeit any and all rights to such number of Shares (up to an aggregate of 937,500 Shares and pro rata based upon the percentage
of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and all other initial
stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares issuable upon exercise of
any warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to 20% of the issued and outstanding
Shares immediately following the IPO.

 

3.2. Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the Subscriber
(or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company shall take such
action as is appropriate to cancel such forfeited Shares.

 

3.3. Share
Certificates. In the event an adjustment to the Original Certificates, if any, is required
pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated
agent as soon as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment, following which
a new certificate (the “New Certificate”), if any, shall be issued in such amount representing the adjusted
number of Shares held by the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable.
Any such adjustment for any uncertificated securities held by the Subscriber shall be made in book-entry form.

 

4. Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust
account which will be established for the benefit of the Company’s public stockholders and into which substantially all
of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company
upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the
Subscriber purchases Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive
any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares into
funds held in the Trust Account upon the successful completion of an initial business combination.

 

    	 	3	 

     

    

 

5. Restrictions
on Transfer.

 

5.1. Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider
Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to
sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed
to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the
Company, that such registration is not required because such transaction is exempt from registration under the Securities Act
and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws. 

 

5.2.  Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter.

 

5.3.  Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS
AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND
SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.4. Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an extraordinary
dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a recapitalization
or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration, any new, substituted
or additional securities or other property which are by reason of such transaction distributed with respect to any Shares subject
to this Section 5 or into which such Shares thereby become convertible shall immediately be subject to this Section 5 and Section
3. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class
of Shares subject to this Section 5 and Section 3.

 

5.5. Registration
Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after certain conditions are met or they are registered pursuant to
a registration rights agreement to be entered into with the Company prior to the closing of the IPO.

 

6. Other
Agreements.

 

6.1. Further
Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be necessary
to carry out the intent of this Agreement.

 

6.2. Notices.
All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and
delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic
transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such
other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic mail
address most recently provided to such party or such other electronic mail address as may be designated in writing by such party.
Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered personally,
on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

    	 	4	 

     

    

 

6.3. Entire
Agreement. This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in the
form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO, embodies the
entire agreement and understanding between the Subscriber and the Company with respect to the subject matter hereof and supersedes
all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty,
covenant or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict,
the express terms and provisions of this Agreement. 

 

6.4.  Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5. Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall
be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether
or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it
was given, and shall not constitute a continuing waiver or consent.

 

6.6. Assignment.
The rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent
of the other party.

 

6.7. Benefit.
All statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement
shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall be regarded
as a third-party beneficiary of this Agreement.

 

6.8. Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed
by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the
conflict of law principles thereof.

 

6.9. Severability.
In the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained
in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent
that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the event that
such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement
shall nevertheless remain in full force and effect.

 

6.10. No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy
of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment
or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise
thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not
constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly
required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand
in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other
or further action in any circumstances without such notice or demand.

 

6.11. Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any
other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof
and any investigations made by or on behalf of the parties.

 

6.12. No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other financial
consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as
to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from any claim
or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming to have been
employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such claim.

 

    	 	5	 

     

    

 

6.13. Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference only
and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts.
This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it
being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile
transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

6.15. 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.
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.

 

6.16. Mutual
Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

7.  Voting
and Tender of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates
and submits for approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally,
the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s stockholders
in connection with an initial business combination negotiated by the Company.

 

8.
    Indemnification. Each party shall indemnify the other against any loss, cost
or damages (including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any
representation, warranty, covenant or agreement in this Agreement.

 

[Signature
Page Follows]

 

    	 	6	 

     

    

 

If
the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return
it to us.

 

	 	Very
    truly yours,
	 	 
	 	Spartacus
    Acquisition Corporation
	 	 	 
	 	By: 	/s/
Igor Volshteyn
	 	 	Name: 	 Igor Volshteyn
	 	 	Title:	 Chief Financial Officer

 

	Accepted and agreed as of the date first written above.
	 	 
	Spartacus
    Sponsor LLC	 
	 	 
	By: 	/s/
                                         Igor Volshteyn
	 
	 	Name:
                                         Igor Volshteyn

        Title:
        Managing Member
	 

 

[Signature
Page to Securities Subscription Agreement]

 

7Exhibit
10.1

 

EMPLOYMENT
AGREEMENT

 

This Employment
Agreement (“Agreement”) is made as of the 23rd day of September, 2020 between Rubius Therapeutics,
Inc., a Delaware corporation (the “Company”), and Jose Carmona (the “Executive”).

 

WHEREAS,
the Company desires to employ the Executive and the Executive desires to be employed by the Company beginning on October 1, 2020
(the “Effective Date”) on the terms and conditions contained herein.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

		1.	Employment.

 

(a)          
Term. The term of this Agreement shall commence on the Effective Date and continue until terminated in accordance
with the provisions hereof (the “Term”).

 

(b)           Position and Duties. During the Term, the Executive shall serve as the Chief Financial Officer of the Company, and
shall have supervision and control over and responsibility for the day-to-day business and affairs of the Company as may from
time to time be prescribed by the Chief Executive Officer of the Company (the “CEO”), provided that such duties are
consistent with the Executive’s position or other positions that the Executive may hold from time to time. The Executive
shall devote the Executive’s full working time and efforts to the business and affairs of the Company. Notwithstanding the
foregoing, except as previously agreed to with the Board of Directors of the Company (the “Board”), the Executive
may not serve on other boards of directors or engage in outside business activities without the prior written consent of the Board,
but the Executive may engage in religious, charitable or other community activities as long as such services and activities are
disclosed to the Board and do not interfere with the Executive’s performance of the Executive’s duties to the Company.
To the extent applicable, the Executive shall be deemed to have resigned from all officer and board member positions that the
Executive holds with the Company or any of its respective subsidiaries and affiliates upon the termination of the Executive’s
employment for any reason. The Executive shall execute any documents in reasonable form as may be requested to confirm or effectuate
any such resignations.

 

		2.	Compensation and Related Matters.

 

(a)           Base
Salary. The Executive’s initial base salary shall be paid at a rate of $450,000 per year. The Executive’s base
salary shall be reviewed annually by the Board or the Compensation Committee of the Board (the “Compensation Committee”).
The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable
in a manner that is consistent with the Company’s usual payroll practices for executive officers.

 

    	 	 	 

     

    

 

(b)           Cash
Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as
determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual
cash incentive compensation shall be 40 percent of the Executive’s Base Salary beginning in the fiscal year 2021.
Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on
the day such cash incentive compensation is paid.

 

(c)           Signing Bonus. In connection with the Executive’s commencement of employment, the Company will pay the Executive
a signing bonus of $200,000 (the “Signing Bonus”), 100 percent of which will be paid concurrently with the annual
bonus payouts for fiscal year 2020 to the current employees of the Company (the “Payment Date”). The Signing Bonus
will be subject to tax-related deductions and withholdings. If the Executive resigns the Executive’s employment for any
reason or the Executive’s employment is terminated by the Company for Cause (as defined below) before the first anniversary
of the Payment Date, the Executive will be obligated to repay the Company 100 percent of the Signing Bonus within ten days following
the Date of Termination. There will be no obligation for repayment of any portion of the Signing Bonus after the first anniversary
of the Payment Date.

 

(d)           Equity Compensation. In connection with the Executive’s commencement of employment, Company management will
recommend to the Board or the Compensation Committee that the Executive receive a stock option to purchase 400,000 shares of the
Company’s common stock under the Company’s 2018 Stock Option and Incentive Plan at a per share exercise price determined
on the grant date in accordance with the Company’s equity grant policies, with 25 percent of the shares underlying the option
vesting on the first anniversary of the Effective Date and the remainder of the shares underlying the option vesting thereafter
in 12 equal quarterly installments until the fourth anniversary of the Effective Date, subject to the Executive’s continued
employment with the Company through each such vesting date.

 

(e)           Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable and documented expenses
incurred by the Executive during the Term in performing services hereunder, in accordance with the policies and procedures then
in effect and established by the Company for its executive officers.

 

(f)            Other Benefits. During the Term, the Executive shall be eligible to participate in or receive benefits under the
Company’s employee benefit plans in effect from time to time, subject to the terms of such plans.

 

(g)           Vacations. During the Term, the Executive shall be entitled to accrue up to 20 paid vacation days each year, which
shall be accrued in accordance with the Company’s policies and procedures. The Executive shall also be entitled to all paid
holidays given by the Company to its executive officers.

 

3.           Termination. During the Term, the Executive’s employment hereunder may be terminated without any breach of
this Agreement under the following circumstances:

 

(a)           Death. The Executive’s employment hereunder shall terminate upon the Executive’s death.

 

    	 	2	 

     

    

 

(b)           Disability.
The Company may terminate the Executive’s employment if the Executive is disabled and unable to perform the essential
functions of the Executive’s then existing position or positions under this Agreement with or without reasonable
accommodation for a period of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as
to whether during any period the Executive is disabled so as to be unable to perform the essential functions of the
Executive’s then existing position or positions with or without reasonable accommodation, the Executive may, and at the
request of the Company shall, submit to the Company a certification in reasonable detail by a physician selected by the
Company to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so
disabled or how long such disability is expected to continue, and such certification shall for the purposes of this Agreement
be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician in connection with
such certification. If such question shall arise and the Executive shall fail to submit such certification, the
Company’s determination of such issue shall be binding on the Executive. Nothing in this Section 3(b) shall be
construed to waive the Executive’s rights, if any, under existing law including, without limitation, the Family and
Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et
seq.

 

(c)           Termination by Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause.
For purposes of this Agreement, “Cause” shall mean: (i) the Executive’s material breach of the terms of this
Agreement or the Restricted Covenants Agreement (as defined below); (ii) the Executive’s material dishonesty, willful misconduct,
gross negligence, or reckless conduct; (iii) the Executive’s commission of an act of fraud, theft, misappropriation or embezzlement;
(iv) the Executive’s commission of, or pleading nolo contendere to, any crime involving dishonesty or moral turpitude or
any felony; or (v) the Executive’s material violation of a Company policy or willful refusal to perform the Executive’s
duties to the Company that were assigned to the Executive by the CEO, following written notice of such violation or refusal by
the Company and a period of 30 days to cure the same.

 

(d)           Termination Without Cause. The Company may terminate the Executive’s employment hereunder at any time without
Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination
for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall
be deemed a termination without Cause.

 

(e)           Termination
by the Executive. The Executive may terminate the Executive’s employment hereunder at any time for any reason,
including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean termination
of the Executive’s employment with the Company (or any of its subsidiaries) in accordance with the next sentence after
the occurrence of one or more of the following events without the Executive’s prior written consent: (i) a material
reduction in the Executive’s authority, duties, or responsibilities; (ii) a material reduction in the Executive’s
Base Salary and/or target annual cash incentive compensation opportunity as in effect immediately prior to such reduction,
except for across-the-board reductions based on the Company’s financial performance similarly affecting all or
substantially all senior management employees of the Company; or (iii) any material breach by the Company or a subsidiary of
the Company of any material provision of this Agreement. In order for termination of the Executive’s employment to be
for Good Reason, (w) the Executive must provide the Company with written notice of the acts or omissions constituting the
grounds for “Good Reason” within 60 days of the initial existence of the grounds for “Good Reason,”
(x) the Executive must cooperate in good faith with the Company’s efforts, for a cure period of 30 days following the
date of written notice (the “Cure Period”), to remedy the grounds for “Good Reason,” (y) such grounds
must not have been cured during the Cure Period, and (z) the Executive must terminate the Executive’s employment within
60 days following the Cure Period. If the Company cures the grounds for “Good Reason” during the Cure Period,
 “Good Reason” shall be deemed not to have occurred.

 

    	 	3	 

     

    

 

(f)           Notice of Termination. Except for termination as specified in Section 3(a), any termination of the Executive’s
employment by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the
other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon.

 

(g)          Date of Termination. “Date of Termination” shall mean: (i) if the Executive’s employment is terminated
by the Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated
on account of disability under Section 3(b), by the Company for Cause under Section 3(c) or by the Company without Cause under
Section 3(d), the date on which Notice of Termination is given; (iii) if the Executive’s employment is terminated by the
Executive under Section 3(e) other than for Good Reason, 30 days after the date on which a Notice of Termination is given, and
(iv) if the Executive’s employment is terminated by the Executive under Section 3(e) for Good Reason, the date on which
a Notice of Termination is given after the end of the Cure Period. Notwithstanding the foregoing, in the event that the Executive
gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration
shall not result in a termination by the Company for purposes of this Agreement.

 

		4.	Compensation Upon Termination.

 

(a)          Termination Generally. If the Executive’s employment with the Company is terminated for any reason, the Company
shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) (i) any Base Salary earned
through the Date of Termination, unpaid expense reimbursements (subject to, and in accordance with, Section 2(d) of this Agreement)
and unused vacation that accrued through the Date of Termination on or before the time required by law but in no event more than
30 days after the Executive’s Date of Termination; and (ii) any vested benefits the Executive may have under any employee
benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance
with the terms of such employee benefit plans (collectively, the “Accrued Benefit”).

 

(b)          Termination
by the Company Without Cause or by the Executive for Good Reason. During the Term, if the Executive’s employment is
terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates the Executive’s employment
for Good Reason as provided in Section 3(e), then the Company shall pay the Executive the Accrued Benefit. In addition, subject
to the Executive signing a separation agreement in substantially the form attached hereto as Exhibit A (the “Separation
Agreement and Release”) and the Separation Agreement and Release becoming fully effective, all within the time frame set
forth in the Separation Agreement and Release but in no event more than 60 days after the Date of Termination:

 

(i)             the Company shall pay the Executive an amount equal to nine months of the Executive’s Base Salary (the “Severance
Amount”); provided in the event the Executive is entitled to any payments pursuant to the Restrictive Covenants Agreement
(as defined below), the Severance Amount received in any calendar year will be reduced by the amount the Executive is paid in
the same such calendar year pursuant to the Restrictive Covenants Agreement (the “Restrictive Covenants Agreement Setoff”);
and

 

    	 	4	 

     

    

 

(ii)            if the Executive properly elects to receive benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended (“COBRA”), nine months of COBRA premiums for the Executive and the Executive’s eligible dependents
at the Company’s normal rate of contribution for employees for the Executive’s coverage at the level in effect immediately
prior to the Date of Termination; provided, however, if the Company determines that it cannot pay such amounts without potentially
violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), provided that the Executive
is enrolled in the Company’s health care programs immediately prior to the Date of Termination, the Company will in lieu
thereof provide to the Executive a taxable monthly payment in an amount equal to the portion of the COBRA premiums for the Executive
and the Executive’s eligible dependents to continue the Executive’s group health coverage in effect on the Date of
Termination at the Company’s normal rate of contribution for employee coverage at the level in effect immediately prior
to the Date of Termination for a period of nine months. For the avoidance of doubt, the taxable payments described above may be
used for any purpose, including, but not limited to, continuation coverage under COBRA; and

 

(iii)           the amounts payable under Section 4(b)(i) and (ii), to the extent taxable, shall be paid out in substantially equal installments
in accordance with the Company’s payroll practice over nine months commencing on the first payroll date following the effective
date of the Separation Agreement and Release and, in any case, within 60 days after the Date of Termination; provided, however,
that if the 60-day period begins in one calendar year and ends in a second calendar year, the Severance Amount to the extent it
qualifies as “non-qualified deferred compensation” within the meaning of Section 409A of the Code, shall begin to
be paid no earlier than the first Company payroll date in the second calendar year and, in any case, by the last day of such 60-day
period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately
following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes
of Treasury Regulation Section 1.409A-2(b)(2).

 

5.             Change
in Control Payment. The provisions of this Section 5 set forth certain terms of an agreement reached between the
Executive and the Company regarding the Executive’s rights and obligations upon the occurrence of a Change in Control.
These provisions are intended to assure and encourage in advance the Executive’s continued attention and dedication to
the Executive’s assigned duties and the Executive’s objectivity during the pendency and after the occurrence of
any such event. These provisions shall apply in lieu of, and expressly supersede, the provisions of Section 4(b) regarding
severance pay and benefits upon a termination of employment, if such termination of employment occurs within 12 months after
the occurrence of the first event constituting a Change in Control. These provisions shall terminate and be of no further
force or effect beginning 12 months after the occurrence of a Change in Control.

 

    	 	5	 

     

    

 

(a)          Change in Control. During the Term, if within 12 months after a Change in Control, the Executive’s employment
is terminated by the Company without Cause as provided in Section 3(d) or the Executive terminates the Executive’s employment
for Good Reason as provided in Section 3(e), then, subject to the signing of the Separation Agreement and Release by the Executive
and the Separation Agreement and Release becoming fully effective, all within the time frame set forth in the Separation Agreement
and Release but in no event more than 60 days after the Date of Termination:

 

(i)             the
Company shall pay the Executive a lump sum in cash in an amount equal to one times the sum of (A) the Executive’s then current
Base Salary (or the Executive’s Base Salary in effect immediately prior to the Change in Control, if higher) plus (B) the
Executive’s target annual incentive compensation for the then- current year (the “Change in Control Payment”),
provided the Change in Control Payment shall be reduced by the amount of the Restrictive Covenants Agreement Setoff, if applicable,
paid or to be paid in the same calendar year; and

 

(ii)            except as otherwise expressly provided in any applicable option agreement or other stock-based award agreement, effective
as of the later of (i) the Date of Termination, or (ii) the effective date of the Separation Agreement and Release (the “Accelerated
Vesting Date”), all stock options and other stock-based awards held by the Executive that are subject to time-based vesting
(the “Time-Based Equity Awards”) shall immediately accelerate and become fully exercisable or nonforfeitable. Notwithstanding
anything to the contrary in the applicable plans and/or award agreements governing the Time-Based Equity Awards any termination
or forfeiture of unvested shares underlying the Time-Based Equity Awards that could vest pursuant to this Section 5(a)(ii) and
otherwise would have occurred on or prior to the Accelerated Vesting Date will be delayed until the Accelerated Vesting Date and
will occur only to the extent the Time- Based Equity Awards do not vest pursuant to this Section 5(a)(ii). Notwithstanding the
foregoing, no additional vesting of the Time-Based Equity Awards shall occur during the period between the Executive’s Date
of Termination and the Accelerated Vesting Date; and

 

(iii)           if
the Executive properly elects to receive benefits under COBRA, 12 months of COBRA premiums for the Executive and the
Executive’s eligible dependents at the Company’s normal rate of contribution for employees for the
Executive’s coverage at the level in effect immediately prior to the Date of Termination; provided, however, if the
Company determines that it cannot pay such amounts without potentially violating applicable law (including, without
limitation, Section 2716 of the Public Health Service Act), provided that the Executive is enrolled in the Company’s
health care programs immediately prior to the Date of Termination, the Company will in lieu thereof provide to the Executive
a taxable monthly payment in an amount equal to the portion of the COBRA premiums for the Executive and the Executive’s
eligible dependents to continue the Executive’s group health coverage in effect on the Date of Termination at the
Company’s normal rate of contribution for employee coverage at the level in effect immediately prior to the Date of
Termination for a period of 12 months. For the avoidance of doubt, the taxable payments described above may be used for any
purpose, including, but not limited to, continuation coverage under COBRA; and

 

    	 	6	 

     

    

 

(iv)           The amounts payable under Sections 5(a)(i) and (iii), to the extent taxable, shall be paid or commence to be paid on the
first payroll date following the effective date of the Separation Agreement and Release and, in any case, within 60 days after
the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar
year, such payments to the extent they qualify as “non-qualified deferred compensation” within the meaning of Section
409A of the Code, shall be paid or commence no earlier than the first Company payroll date in the second calendar year and, in
any case, by the last day of such 60-day period.

 

		(b)	Additional Limitation.

 

(i)             Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or
distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Internal Revenue Code
of 1986, as amended (the “Code”), and the applicable regulations thereunder (the “Aggregate Payments”),
would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not
below zero) so that the sum of all of the Aggregate Payments shall be

$1.00 less than
the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction
shall only occur if it would result in the Executive receiving a higher After Tax Amount (as defined below) than the Executive
would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced
in the following order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid
the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject
to Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity- based payments and acceleration;
and (4) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments
that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts
that are subject to calculation under Treas. Reg. §1.280G-1, Q&A- 24(b) or (c).

 

(ii)            For
purposes of this Section 5(b), the “After Tax Amount” means the amount of the Aggregate Payments less all
federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s
receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay
federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year
in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual
taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained
from deduction of such state and local taxes.

 

    	 	7	 

     

    

 

(iii)           The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 5(b)(i) shall be
made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide
detailed supporting calculations both to the Company and the Executive within 15 business days of the Date of Termination, if
applicable, or at such earlier time as is reasonably requested by the Company or the Executive. Any determination by the Accounting
Firm shall be binding upon the Company and the Executive.

 

(c)          Definitions. For purposes of this Section 5, “Change in Control” shall mean a Sale Event as defined
in the Company’s 2018 Stock Option and Incentive Plan.

 

		6.	Section 409A.

 

(a)          Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service
within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee”
within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes
entitled to under this Agreement or otherwise on account of the Executive’s separation from service would be considered
deferred compensation otherwise subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a
result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not
be provided until the date that is the earlier of (A) six months and one day after the Executive’s separation from service,
or (B) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment
shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the
application of this provision, and the balance of the installments shall be payable in accordance with their original schedule.

 

(b)          All
in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or
incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as
administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year
following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable
expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for
reimbursement in any other taxable year (except for any lifetime or other aggregate limitation applicable to medical
expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another
benefit.

 

(c)          To
the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation”
under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination
of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from service.”
The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions
set forth in Treasury Regulation Section 1.409A-1(h).

 

    	 	8	 

     

    

 

(d)          The parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent
that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read
in such a manner so that all payments hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement
or the Restrictive Covenants Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section
1.409A-2(b)(2). The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary
to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits
provided hereunder without additional cost to either party.

 

(e)          The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any
provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not
satisfy an exemption from, or the conditions of, such Section.

 

		7.	Confidential Information, Noncompetition
                                         and Cooperation.

 

(a)          Restrictive Covenants Agreement. The Executive acknowledges that the Executive previously received a copy of the
Employee Confidentiality, Assignment and Noncompetition Agreement attached hereto as Exhibit B (the “Restrictive
Covenants Agreement”) and, as a condition of the commencement of the Executive’s employment, the Executive shall enter
into the Restrictive Covenants Agreement.

 

(b)          Litigation and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate
fully with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the
future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed
by the Company. The Executive’s full cooperation in connection with such claims or actions shall include, but not be limited
to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at
mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the
Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation
or review relates to events or occurrences that transpired while the Executive was employed by the Company. The Company shall
reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance
of obligations pursuant to this Section 7(b).

 

    	 	9	 

     

    

 

(c)          Relief.
The Executive agrees that it would be difficult to measure any damages caused to the Company which might result from any
breach by the Executive of the promises set forth in the Restrictive Covenants Agreement or this Section 7, and that in any
event money damages would be an inadequate remedy for any such breach. Accordingly, the Executive agrees that if the
Executive breaches, or proposes to breach, any portion of this Agreement, the Company shall be entitled, in addition to all
other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without
showing or proving any actual damage to the Company. In addition, in the event the Executive breaches the Restrictive
Covenants Agreement or this Section 7 during a period when the Executive is receiving severance payments pursuant to Section
4 or Section 5, the Company shall have the right to suspend or terminate such severance payments. Such suspension or
termination shall not limit the Company’s other options with respect to relief for such breach and shall not relieve
the Executive of the Executive’s duties under this Agreement.

 

(d)          Protected Disclosures and Other Protected Action. Nothing in this Agreement shall be interpreted or applied to prohibit
the Executive from making any good faith report to any governmental agency or other governmental entity (a “Government Agency”)
concerning any act or omission that the Executive reasonably believes constitutes a possible violation of federal or state law
or making other disclosures that are protected under the anti- retaliation or whistleblower provisions of applicable federal or
state law or regulation. In addition, nothing contained in this Agreement limits the Executive’s ability to communicate
with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government
Agency, including the Executive’s ability to provide documents or other information, without notice to the Company. In addition,
for the avoidance of doubt, pursuant to the federal Defend Trade Secrets Act of 2016, the Executive shall not be held criminally
or civilly liable under any federal or state trade secret law or under this Agreement or the Restrictive Covenants Agreement for
the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official, either
directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation
of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

 

8.            Consent to Jurisdiction. The parties hereby consent to the jurisdiction of the state and federal courts of the Commonwealth
of Massachusetts. Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of
such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court,
or otherwise) with respect to personal jurisdiction or service of process.

 

9.            Integration. This Agreement, together with the exhibits hereto, constitutes the entire agreement between the parties
with respect to the subject matter hereof and supersedes all prior agreements between the parties concerning such subject matter.

 

10.          Withholding. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other
amounts required to be withheld by the Company under applicable law.

 

11.          Successor
to the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal
representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s
death after the Executive’s termination of employment but prior to the completion by the Company of all payments due
the Executive under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated
in writing to the Company prior to the Executive’s death (or to the Executive’s estate, if the Executive fails to
make such designation).

 

    	 	10	 

     

    

 

12.          Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion or provision
of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction,
then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement
shall be valid and enforceable to the fullest extent permitted by law.

 

13.          Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination
of the Executive’s employment to the extent necessary to effectuate the terms contained herein.

 

14.          Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party.
The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of
any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of
any subsequent breach.

 

15.          Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient
if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified
mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with
the Company or, in the case of the Company, at its main offices, attention of the Board.

 

16.          Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by
a duly authorized representative of the Company.

 

17.          Governing Law. This is a Massachusetts contract and shall be construed under and be governed in all respects by
the laws of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles thereof.

 

18.          Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be taken to be an original; but such counterparts shall together constitute one and the same document.

 

19.          Successor to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree
to perform this Agreement to the same extent that the Company would be required to perform it if no succession had taken place.
Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a
material breach of this Agreement.

 

20.          Gender Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine
gender unless the context clearly indicates otherwise.

  

[Signature
Page Follows]

 

    	 	11	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement effective on the Effective Date.

 

	 	Rubius Therapeutics, Inc.
	 	 	 
	 	/s/ Pablo Cagnoni
	 	By:	 Pablo Cagnoni,
M.D.
	 	Its:	 Chief Executive
Officer
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	/s/ Jose Carmona
	 	Jose Carmona

 

    

     

    

 

Exhibit
A 

 

Separation
Agreement and Release

 

THIS
SEPARATION AGREEMENT AND RELEASE is entered into between Jose Carmona (the “Executive”) as a condition to receiving
the severance benefits (“Severance Benefits”) to be provided to the Executive by Rubius Therapeutics, Inc. (the “Company”)
pursuant to the Employment Agreement, dated _____________, 2020, between the Executive and the Company (the “Employment
Agreement”), which is incorporated herein by reference. Terms with initial capitalization that are not otherwise defined
in this Separation Agreement and Release have the meanings set forth in the Employment Agreement.

 

The
Executive’s Date of Termination shall be [DATE]. Subject to the terms of the Employment Agreement, the Executive is eligible
to receive the severance benefits set forth in Section 4 or Section 5, as applicable, of the Employment Agreement (the “Severance
Benefits”) upon the terms and conditions of this Separation Agreement and Release.

 

1.    Separation
Agreement and Release. The Executive, on his or her own behalf and on behalf of his or her heirs, executors,
administrators, attorneys and assigns, hereby unconditionally and irrevocably releases, waives and forever discharges, the
Company and each of its affiliates, parents, successors, predecessors, and subsidiaries including, but not limited to, the
employee benefit plans of each and fiduciaries of such plans, and the current and former officers, directors, shareholders,
employees, attorneys, accountants and agents of each in their official and personal capacities (all of the foregoing,
together with the Company, the “Released Parties”) from any and all causes of action, claims and damages,
including attorneys’ fees, whether known or unknown, foreseen or unforeseen, presently asserted or otherwise arising
through the date of his or her signing of the Separation Agreement and Release. This release includes, but is not limited to,
any claim or entitlement to salary, bonuses, any other payments, benefits or damages arising under any federal law
(including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967,
the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, Executive Order 11246, the Family
and Medical Leave Act, and the Worker Adjustment and Retraining Notification Act, each as amended); any claim arising under
any state or local laws, ordinances or regulations (including, but not limited to, any state or local laws, ordinances or
regulations requiring that advance notice be given of certain workforce reductions), and any claim arising under any common
law principle or public policy, including but not limited to, all suits in tort or contract, such as wrongful termination,
defamation, emotional distress, invasion of privacy or loss of consortium and any other claim of any nature whatsoever, both
in law and equity, whether personal or economic, known or unknown, arising at any and all times up to this date against any
of the Released Parties. Nothing contained in this release shall affect the parties’ respective rights or
ability to enforce (i) their respective rights under this Separation Agreement and Release, (ii) Company’s obligation
to defend and indemnify the Executive under the terms of any separate indemnification agreement, the Company’s
certificate of incorporation and by-laws, Delaware law and any applicable directors and officers liability insurance policy
or (iii) any causes of action or claims that cannot be released as a matter of law provided further, this release shall not
affect Executive’s rights with respect to vested options and/or equity issued to the Executive by the Company,
including such options or equity issued pursuant to Time-Based Equity Awards.

 

    

     

    

 

2.   
Acknowledgements. The Executive is signing this Separation Agreement and Release knowingly and voluntarily. He or
she acknowledges that:

 

		(a)	He
                                         or she has read and understands the legal and binding
                                         effect of this document and that he or she is hereby advised in writing to consult an
                                         attorney before signing this Separation Agreement and Release;

 

		(b)	He
                                         or she has relied solely on his or her own judgment and/or that of his or her attorney
                                         regarding the consideration for and the terms of this Separation Agreement and Release
                                         and is signing this Separation Agreement and Release knowingly and voluntarily of his
                                         or her own free will;

 

		(c)	He
                                         or she is not entitled to the Severance Benefits unless he or she agrees to and complies
                                         fully with the terms of this Separation Agreement and Release;

 

		(d)	He
                                         or she has been given at least [ __days] to consider this Separation Agreement and Release,
                                         and if he or she chose to sign this Separation Agreement and Release in fewer than [
                                         __days] from receipt, that decision was entirely knowing and voluntary;

 

		(e)	To
                                         accept this Separation Agreement and Release, he or she must deliver a signed Separation
                                         Agreement and Release to the [Insert Address] within [ days] of the Executive’s
                                         receipt of this Separation Agreement and Release. The signed Separation Agreement and
                                         Release should be delivered to:

 

[Insert
Address]

 

The Executive
further understands that he or she may revoke this Separation Agreement and Release within seven (7) business days after signing
by written notice within such period to the [Insert Address] at the street address or the email address above. The Executive further
understands that this Separation Agreement and Release is not effective or enforceable until after the seven (7) business day
period of revocation has expired without revocation (the “Effective Date”), and that if he or she revokes this Separation
Agreement and Release within the seven (7) business day revocation period, he or she will not receive the Severance Benefits;

 

		(f)	He
                                         or she has read and understands the Separation Agreement and Release and further understands
                                         that it includes a general release of any all known and unknown,
foreseen and unforeseen claims presently asserted or otherwise arising through the date of his or her signing of this Separation
Agreement and Release that he or she may have against any of the Released Parties; and,

 

    	 	14	 

     

    

 

		(g)	No
                                         statements made or conduct by any of the Released Parties has in any way coerced or unduly
                                         influenced him or her to execute this Separation Agreement and Release.

 

		(h)	Other
                                         than as set forth in Section 4 or Section 5 of the Employment Agreement, all stock options
                                         and other stock-based awards held by the Executive shall be governed by the applicable
                                         equity incentive plan and award agreements (collectively, the “Equity Documents”).

 

3.   
No Admission of Liability. This Separation Agreement and Release does not constitute an admission of liability or
wrongdoing on the part of the any Released Party.

 

4.   
Protected Disclosures. Nothing contained in this Separation Agreement and Release limits the Executive’s ability
to disclose information to the extent necessary to file for unemployment assistance with an applicable state agency, or to file
a charge or complaint with any federal, state or local governmental agency or commission (a “Government Agency”).
In addition, nothing contained in this Separation Agreement and Release limits the Executive’s ability to communicate with
any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency,
including the Executive’s ability to provide documents or other information, without notice to the Company, nor does anything
contained in this Separation Agreement and Release apply to truthful testimony in litigation. If the Executive files any charge
or complaint with any Government Agency and if the Government Agency pursues any claim on the Executive’s behalf, or if
any other third party pursues any claim on the Executive’s behalf, Executive waives any right to monetary or other individualized
relief (either individually or as part of any collective or class action); provided that nothing in this Separation Agreement
and Release limits any right the Executive may have to receive a whistleblower award or bounty for information provided to the
Securities and Exchange Commission. In addition, for the avoidance of doubt, pursuant to the federal Defend Trade Secrets Act
of 2016, the Executive shall not be held criminally or civilly liable under any federal or state trade secret law or under this
Separation Agreement and Release for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state,
or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or
investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal.

 

    	 	15	 

     

    

 

5.    Noncompetition.
In order to protect the Company’s Proprietary Information (as defined in the Restrictive Covenants Agreement) and
goodwill, during the period of one (1) year following the Date of Termination (the “Restricted Period”), the
Executive shall not directly or indirectly, whether as owner, partner, shareholder, director, manager, consultant, agent,
employee, co- venturer or otherwise, anywhere in the world, engage or otherwise participate in any business that develops,
manufactures, or markets any products, or performs any services, that are competitive with the products or services of the
Company, or products or services that the Company or its affiliates, has under development or that are the subject of active
planning at any time during the Executive’s employment. For purposes of this Section 5, the definition of
 “Company” shall include the Company’s subsidiaries and other affiliates and its and their successors and
assigns. The Executive understands and agrees that the restrictions contained in this Section 5 are necessary for the
protection of the business and goodwill of the Company and he or she considers them to be reasonable for such purpose. Any
breach of this Section 5 is likely to cause the Company substantial and irrevocable damage and therefore, in the event of
such breach, the Company, in addition to such other remedies which may be available, will be entitled to specific performance
and other injunctive relief, without the posting of a bond. The Executive further acknowledges that a court may render an
award extending the Restricted Period as one of the remedies in the event of the Executive’s violation of this Section
5. If the Executive violates this Section 5, in addition to all other remedies available to the Company at law, in equity,
and under contract, the Executive agrees that he or she is obligated to pay all the Company’s costs of enforcement of
this Section 5, including reasonable attorneys’ fees and expenses. If any part of this Section 5 is for any reason held
to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and
reducing it, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.

 

6.   
Continuing Obligations. As a condition of receiving the Severance Benefits, the Executive acknowledges and reaffirms
his or her continuing obligations to the Company pursuant to the Restrictive Covenants Agreement; provided that to the extent
the Company has not already waived Section 8(b) in the Restrictive Covenants Agreement, the Company’s signature on this
Separation Agreement and Release shall constitute a waiver of Section 8(b) of the Restrictive Covenants Agreement, effective as
of the Effective Date. For the avoidance of doubt, the Executive agrees that in no event will the Executive be entitled to both
garden leave pay under the Restrictive Covenants Agreement and Severance Benefits pursuant to this Separation Agreement and Release.
In addition, the Executive acknowledges and reaffirms any other agreement that the Executive has entered into with any of the
Released Parties relating to confidentiality, assignment of inventions, noncompetition and/or nonsolicitation, the terms of which
are incorporated by reference herein. All of the obligations referenced or contained in Sections 5 and 6 of this Separation Agreement
and Release are collectively referred to as the “Continuing Obligations.”

 

7.   
Unemployment Benefits. The Company will not oppose the Executive’s claim for unemployment insurance benefits.

 

8.   
Termination of Payments in the Event of Breach. If the Executive breaches any of his or her obligations under this
Separation Agreement and Release, in addition to any other legal or equitable remedies it may have for such breach, the Company
shall have the right to terminate its payments to the Executive or for the Executive’s benefit under this Separation Agreement
and Release. Any such actions in the event of the Executive’s breach will not affect his or her continuing obligations under
this Separation Agreement and Release.

 

    	 	16	 

     

    

 

9.    Entire
Agreement. This Separation Agreement and Release constitutes the entire agreement between the Company and the Executive
and supersedes any previous agreements or understandings between the Company and the Executive regarding the subject matter
hereof, except the Equity Documents, the Continuing Obligations, and any other obligations specifically preserved in this
Separation Agreement and Release. In signing this Separation Agreement and Release, the Executive is not relying on any
agreements or representations, except those expressly contained in this Separation Agreement and Release.

 

10.   
Severability. If any provision of this Separation Agreement and Release is found, held or deemed by a court of competent
jurisdiction to be void, unlawful, or unenforceable under any applicable statute or controlling law, the remainder of this Separation
Agreement and Release shall continue in full force and effect.

 

11.   
Waiver; Amendment. No waiver of any provision of this Separation Agreement and Release shall be effective unless
made in writing and signed by the waiving party. The failure of a party to require the performance of any term or obligation of
this Separation Agreement and Release, or the waiver by a party of any breach of this Separation Agreement and Release, shall
not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. This Separation
Agreement and Release may not be modified or amended except in a writing signed by both the Executive and a duly authorized officer
of the Company.

 

12.   
Governing Law. This Separation Agreement and Release shall be governed by the laws of the Commonwealth of Massachusetts
excluding the choice of law rules thereof.

 

13.   
Headings. Section and subsection headings contained in this Separation Agreement and Release are inserted for the
convenience of reference only. Section and subsection headings shall not be deemed to be a part of this Separation Agreement and
Release for any purpose, and they shall not in any way define or affect the meaning, construction or scope of any of the provisions
hereof.

 

14.   
Counterparts. This Separation Agreement and Release may be executed in separate counterparts. When both counterparts
are signed, they shall be treated together as one and the same document.

 

    	 	17	 

     

    

 

IN
WITNESS WHEREOF, the parties have duly executed this Separation Agreement and Release effective on the Effective Date.

 

	RUBIUS THERAPEUTICS, INC.	 	 
	 	 	 	 
	By:	 	 	 
	Name:	 	 	Date
	Title:	 	 	 
	 	              	 	 
	EXECUTIVE:	 	 
	 	  	 	 
	 	 	 
	Jose Carmona	 	Date

 

    	 	 	 

     

    

 

Exhibit
B

 

Restrictive
Covenants Agreement

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