Document:

Exhibit
10.11

 

 

AMENDED
EMPLOYMENT AGREEMENT

 

This
Employment Agreement (the “Agreement”) is made effective as described below in Section
1 by and between Biofrontera, Inc, a Delaware corporation (the “Company”) having its registered office at 120 Presidential
Way, Suite 330, Woburn, MA 01801 and Hermann Luebbert (the “Executive”) of Hoehenstrasse 59, 51381 Leverkusen, Germany.

 

BACKGROUND
INFORMATION

 

The
Company wishes to secure the employment services of the Executive for an indefinite period of time and upon the particular terms and
conditions hereinafter set forth. The Executive is willing to be so employed. Accordingly,
the parties agree as follows:

 

OPERATIVE
PROVISIONS

 

	1.	EMPLOYMENT
    AND TERM

 

This
Agreement shall become effective upon:

 

	 	-	The
    Company’s successful completion of an initial public offering pursuant to an effective Registration Statement on Form S-1,
    and 
	 	 	 
	 	-	The
    earlier of either of the following occurrences:

 

	 	○	Biofrontera
    AG is first deemed not to control the Company under German law, or
	 	 	 
	 	○	The
    day after Executive’s last day of employment with Biofrontera AG 

 

(the
“Effective Date”). This Agreement shall remain in full force and effect for an indefinite period of time and is subject to
termination pursuant to Section 9 of the Agreement.

 

Upon
execution of this Agreement, Executive is employed as the Chief Executive Officer of Biofrontera AG. While Executive remains so employed
and the contract with Biofrontera AG remains valid in all aspects (with the exception that Executive’s base salary may be decreased
to 70% of its full value), he shall devote approximately 30% of his working capacity to his duties hereunder. However, if Executive’s
employment with Biofrontera AG terminates, Executive may devote a larger percent of his working capacity (up to 100%) to the performance
of his duties hereunder, subject to the approval and consent of the board of Directors.

 

	2.	DUTIES

 

During
the term of the Agreement, whether initial or extended, the Executive shall render to the
Company services as Executive Chairman and shall perform such duties as may be designated by and subject to the supervision of the Company’s
Board of Directors. Executive shall serve in such additional roles appropriate to his responsibilities and skills as shall be designated
by the Board of Directors.

 

During such period, the Executive shall devote his
full attention, time and energies as necessary to the business affairs of the Company (subject to the terms of Section 1 above and Section
5

 

    	1

    	 

    

 

 below) and will
use his reasonable business efforts to promote the interests and reputation of the Company. He may pursue non-competitive employment
activities that do not interfere with the complete performance of his obligations hereunder only after prior written agreement by the
Company’s Board of Directors.

 

	3.	LOCATION
    OF EMPLOYMENT

 

Executive’s
principal place of employment shall be at the Company’s headquarters, which is currently located in Woburn, MA. However, Executive
will be permitted to work entirely remotely from his home or another convenient office location, as needed and as determined by Executive.
Nonetheless, Executive shall also be required to conduct reasonable business travel as directed by the Board of Directors and consistent
with the Executive’s duties and responsibilities.

 

	4.	COMPENSATION

 

For
the services to be rendered by the Executive under the Agreement, the Company shall pay him a salary while he is rendering such services
and performing his duties hereunder, and the Executive shall accept such salary as full payment for such service. At all times, and regardless
of what percentage of Executive’s working capacity is dedicated to his duties hereunder, Executive’s salary shall be i) subject
to the approval and consent of the Board of Directors of the Company and ii) commensurate with the scope of Executive’s
duties and responsibilities (as determined by objective criteria). Executive’s salary shall be reduced by (i) Federal income tax
withholding, (ii) FICA; and (iii) such other reductions as may be agreed upon by the parties or required by law, and shall be paid in
bi-weekly installments and in accordance with the Company’s customary payroll procedure. For each fiscal year in effect during
the active life of this Agreement, the Executive shall be eligible to receive a cash bonus of up to 100% of his base salary (the “Target
Bonus”) upon the attainment of performance goals set in advance by the Board of Directors. All such bonuses shall be paid after
the completion of the Company’s financial statements for the applicable fiscal year as and when bonuses are paid to members of
senior management generally. The actual amount of Executive’s bonus shall depend upon the level of achievement of set targets,
however no bonus shall be paid if the level of target achievement is below 70%. 

 

Upon
the Executive’s termination of employment, regardless of the reason for such termination and regardless of the party by whom such
termination is initiated, the Executive shall be entitled to immediate payment of all accrued but unpaid base salary and expenses owed.
In addition, upon the Executive’s termination of employment by the Company other than termination for “Cause” under
Section 9(d) of the Agreement, the Executive shall be entitled to a severance payment equal to one twelfth the Executive’s then-current
annual base salary for each full year the Executive has been employed by the Company (including Biofrontera AG, as a past affiliate of
the Company); provided, however, that such payment shall not exceed two full years of Executive’s then-current
base salary.

 

    	2

    	 

    

 

Further,
the Executive shall participate in Company’s stock option plan. The number of options rewarded to him shall be at the discretion
of the Board of Directors.

 

	5.	VACATION;
    FRINGE BENEFITS; REIMBURSEMENT OF EXPENSES

 

The
Executive shall be entitled to paid time off in accordance with the Company’s standard policy. He shall not be entitled to receive
monetary or other valuable consideration for vacation time to which he is entitled but does not take, unless so ordered by the Board
of Directors. Timing of vacations shall be reasonably exercised by the Executive.

 

During
his period of employment hereunder, the Executive shall further be entitled to (a)leave by reason of physical or mental disability or
incapacity, (b) participation in medical and life insurance, pension, disability and other fringe benefit plans as the Company may make
generally available to all of its executive employees and other employees from time to time; subject, however, to such budgetary constraints
or other limitations as may be imposed by the Board of Directors of the Company from time to time; and (c) reimbursement for all normal
and reasonable expenses necessarily incurred by his in the performance of his obligations hereunder, subject to such reasonable substantiation
requirements as may be imposed by the Company to all employees of the Company, unless otherwise agreed to by the Board of Directors.

 

	6.	CONFIDENTIAL
    INFORMATION AND PROPRIETARY INTERESTS

 

Executive
acknowledges that he has received and will continue to receive Company’s Confidential Information. Executive recognizes that all
such Confidential Information is and shall remain the sole property of the Company, free of any rights of Executive, and acknowledges
that the Company has a vested interest in assuring that all such Confidential Information remains secret and confidential. Therefore,
Executive agrees that during or after the expiration of his term of employment with the Company, the Executive shall not communicate
or divulge to, or use for the benefit of, any individual, association, partnership, trust, corporation or other entity except the Company,
any Confidential Information received by the Executive by virtue of his employment, without first being in receipt of the Company’s
written consent to do so.

 

For
the purposes of this Agreement, the term “Confidential Information” means:

 

	a.	All
    information developed or used by the Company or its associates relating to business operations, including but not limited to customer
    lists, purchase orders, supplier or distributor information, financial data, pricing information and price lists, business plans,
    marketing strategies, personnel records, and all books, records, manuals, advertising materials, catalogues, correspondences, mailing
    lists, production data, and purchasing materials; and
	 	 
	b.	All
    proprietary information of the company (or any records related to the same), including but not limited to all trade secrets, inventions,
    processes, procedures, research records, market surveys or marketing know-how, trademarks, copyrights, patents, and patent applications.
    

 

    	3

    	 

    

 

The
term “Confidential Information” shall not include information that is or becomes generally known to the public other than
as a result of a disclosure by Executive in violation of this Agreement, or by any other employee of the Company subject to confidentiality
obligations.

 

	7.	NON-COMPETITION/NON-SOLICITATION

 

During
the term of his employment hereunder and for the one (1) year period following the termination hereof for any reason other than (a) the
Company’s discontinuance of activities; or (b) an adjudication of the Company’s material breach of any of its obligations
set forth in Sections 1, 2,4, and 5 inclusive, the “Restricted Period”) the Executive shall not, without prior written consent
by the Board of Directors of the Company, directly or indirectly, engage in or become an owner of, render any service to, enter the employment
of, or represent or solicit for any business which competes with any activity of the Company conducted at any time during the Executive’s
period of employment and which is located in the United States. The parties expressly agree that the duration and geographical area of
the restrictive covenant are reasonable.

 

The
covenant shall be construed as an agreement independent of any other provision herein; and the existence of any claim or cause of action
of the Executive against the Company regardless of how arising, shall not constitute a defense to the enforcement by the Company or its
terms. If any portion of the covenant is held by a court to be unenforceable with respect either to its duration or geographical area,
for whatever reason, it shall be considered divisible both as to time and geographical area, resulting in an intended requirement that
the longest lesser period of time or largest lesser geographical area found by such court to be a reasonable restriction shall remain
an effective restrictive covenant, specifically enforceable against the Executive.

 

Notwithstanding
any statement contained in this Section to the contrary, legal or beneficial ownership by the Executive of a less than five percent (5%)
interest in a competitive corporation the stock of which is publicly traded on a stock exchange or by means of an electronic dealer quotation
system, shall not of itself be deemed to constitute a breach by the Executive of the terms hereof.

 

Additionally,
during the Executive’s employment with the Company and thereafter during the Restricted Period, the Executive shall not, and shall
not permit any third party subject to Executive’s direction or control to, directly or indirectly, (i) call upon, accept business
from, or solicit the business of any Person who is, or who had been at any time during the preceding twelve months, a customer of the
Company, (ii) otherwise divert or attempt to divert any business from the Company, (iii) interfere with the business relationships between
the Company and any of its customers, suppliers or others with whom they have business relationships or (iv) recruit or otherwise solicit
or induce, or enter into or participate in any plan or arrangement to cause, any Person who is an employee of, or otherwise performing
services for, the Company to terminate his employment or other relationship with the Company, or hire any Person who has left the employ
of or ceased providing services to the Company during the Restricted Period.

 

	8.	REMEDIES
    FOR BREACH OF EXECUTIVE OBLIGATIONS

 

    	4

    	 

    

 

The
parties to the agreement agree that the services of the Executive are of a personal, specific, unique and extraordinary character and
cannot be readily replaced by the Company. They further agree that in the course of performing his services, the Executive will have
access to various types of proprietary information of the Company, which, if released to others or used by the Executive other than for
the benefit of the Company, in either case without the Company’s written consent, could cause the Company to suffer irreparable
injury. Therefore, the obligation of the Executive established under Section 6 and Section 7 hereof shall be enforceable both at law
and in equity, by injunction, specific performance, damages or other remedy; and the right of the Company to obtain any such remedy shall
be cumulative and not alternative and shall not be exhausted by any one or more uses thereof. Any adjudication against Executive by the
Company shall be in accordance with the laws of Massachusetts and Massachusetts employee rights.

 

	9.	MODIFICATION
                                            AND TERMINATION

 

	a.	Modification.
                                            The Agreement may be amended or modified only with the mutual written consent of
                                            the parties, and in its present form consists of the entire Agreement between and amongst
                                            the parties.
	 	 
	b.	Termination-General.
                                            The Agreement may be terminated by either party for any reason by giving six (6) months’
                                            notice to the other party. The Agreement may be terminated by the Company upon the occurrence
                                            of any one of the following events: (a) the death of the Executive; (b) the occurrence to
                                            Executive of a physical or mental disability which, in the judgment (reasonably exercised)
                                            of the Board of Directors, renders him unable to perform his normal duties on behalf of the
                                            Company for a continuous period of six (6) months (measured from the first day of the month
                                            immediately following the occurrence of such disability); or (c) a determination by the Board
                                            of Directors that there is “Cause” (as described in section d below) to terminate
                                            Executive’s employment.
	 	 
	c.	By
                                            Death or Disability. In the event of the Executive’s death, his base compensation
                                            otherwise due for the succeeding period of time but no less than three (3) full calendar
                                            months following his death shall be paid to his designated beneficiary, or to his estate
                                            if no beneficiary has been designated. In the event of his disability the Executive shall
                                            be paid his compensation for the succeeding period of time but no less than three (3) months.
                                            Thereafter for the succeeding three (3) months shall be treated as being on an authorized
                                            unpaid leave of absence.
	 	 
	d.	For
                                            Cause. For purposes of the Agreement, the term “Cause” shall include,
                                            but not be limited to (i) the Executive’s willful misconduct or gross negligence; (ii)
                                            his conscious disregard of his obligations hereunder or of any other duties reasonably assigned
                                            to him by the Board of Directors; (iii) his repeated conscious violation of any provision
                                            of the law, the Company’s By-Laws or of its other stated policies, standards, practices,
                                            regulations or procedures; (iv) his commission of any act involving moral turpitude; (v)
                                            a determination that he has demonstrated a dependence upon any addictive substance, including
                                            but not limited to alcohol, controlled substances, narcotics or barbiturates; or (vi) continued,
                                            willful and deliberate non-performance by the Executive of his duties hereunder (other than
                                            by reason of the Executive’s physical or mental illness, incapacity or

 

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disability)
                                            which has continued for more than 30 days following written notice of such non-performance
                                            from the Board of Directors.

 

	e.	Continued
                                            Effectiveness of Certain Obligations. No termination or expiration of the Agreement,
                                            whether consummated by action of either party or by operation of the terms hereof, shall
                                            relieve the Executive from his continued performance of the obligations established under
                                            Sections 6 and 7 hereof.
	 	 
	f.	Resignation
                                            as an Officer or Director. Immediately upon any termination of Executive’s
                                            employment for any reason, Executive shall be deemed to have resigned any position he may
                                            then hold as an officer of the Company and/or as a fiduciary of any Company benefit plan.

 

	10.	Change
                                            of Control

 

If
Executive’s termination of employment occurs within 3 months prior to or 12 months after a “Change in Control” as defined
in this Section and such termination is by the Company without “Cause,” (i) Executive would be entitled to receive, in lieu
of the severance amount described in Section 4, a severance amount equal to the sum of his current base salary and target annual bonus
for the then current fiscal year (or if higher, the target annual bonus for the fiscal year immediately prior to the Change in Control),
and (ii) Subject to the Executive’s copayment of premium amounts at the active employees’ rate, the Executive may continue
to participate in the Company’s group health, dental and vision program for 12 months; provided, however, that the continuation
of health benefits under this Section shall reduce and count against the Executive’s rights under COBRA.

 

For
the purpose of this Agreement, a “Change in Control” shall mean the occurrence of any of the following events: 

 

	a.	The
                                            approval by stockholders of the Company of: 

 

	 	1.	Any
                                            consolidation or merger of the Company in which the company is not the continuing or surviving
                                            corporation, or 

 

	 	2.	A
                                            sale, lease, exchange or other transfer (in one transaction or a series of related transactions)
                                            of all or substantially all the assets of the Company to a party which is not controlled
                                            by the Company’s parent company; 

 

	b.	Either:
                                            

 

	 	1.	The
                                            receipt by the Company of a report on schedule 13D, or an amendment to such a report, filed
                                            with the Securities and Exchange Commission (“SEC”) pursuant to Section 13(d)
                                            of the Securities Exchange Act of 1934 (the “1934 Act”) disclosing that any person,
                                            group, corporation or other entity (a “Person”) is the beneficial owner, directly
                                            or indirectly, of 50% or more of the outstanding stock of the Company, or 

 

		2.	The
                                            actual knowledge by the Company of facts, on the basis of which any person is required to
                                            file such a report on schedule 13D, or an amendment to such a report, with the SEC (or would
                                            be required to file such a report or amendment upon the lapse of the applicable period of
                                            time specified in Section 13(d) of the 1934 Act) disclosing that such a

 

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person is the beneficial
                                            owner, directly or indirectly, of 50% or more of the outstanding stock of the Company;

 

	c.	The
                                            purchase by any person (as defined in Section 13(d) of the 1934 Act), corporation or other
                                            entity, other than the Company or a wholly owned subsidiary or the parent company of the
                                            Company, of shares pursuant to a tender or exchange offer, to acquire any stock of the Company
                                            (or securities convertible into stock) for cash, securities or any other consideration provided
                                            that, after consummation of the offer, such person, group, corporation or other entity is
                                            the beneficial owner (as defined in rule 13d-3 under the 1934 Act), directly or indirectly,
                                            of 50% or more of the outstanding stock of the Company (calculated as provided in paragraph
                                            (d) of Rule 13d-3 under the 1934 act in the case of rights to acquire stock); or 

 

	d.	The
                                            combination or merger of the Company with another company in which the Company is the surviving
                                            corporation but, immediately after the combination, the shareholders of the Company immediately
                                            prior to the combination do not hold, directly or indirectly, more than 50% of the voting
                                            stock of the combined company (therefore being excluded from the number of shares held by
                                            such shareholders, but not from the voting stock of the combined company, any shares received
                                            by affiliates (as defined in the rules of the Securities and Exchange Commission) of such
                                            other company in exchange for stock of such other company).

 

	11.	INDEBTEDNESS
                                            OF EXECUTIVE

 

If,
during the course of his employment, Executive becomes indebted to the Company for any reason, the Company shall, if it so elects, have
the right to set off and to collect any sums due it from the Executive out of any amounts which it may owe to the Executive for unpaid
compensation. In the event that the Agreement terminates for any reason, all sums owed by the Executive to the Company shall become immediately
due and payable.

 

	12.	MISCELLANEOUS
                                            PROVISIONS

 

	a.	Non-assignment:
                                            Neither the Agreement nor any right or interest hereunder shall be assigned by the
                                            Executive or his legal representatives.
	 	 
	b.	Enforcement:
                                            If any term or condition or the Agreement shall be invalid or deemed unenforceable
                                            to any extent or in any application, then the remainder of the Agreement, and such terms
                                            or conditions except to such extent or in such application, shall not be affected thereby,
                                            and each and every term and condition of the Agreement shall be valid and enforced to the
                                            fullest extent and in the broadest application permitted by law.
	 	 
	c.	Notice:
                                            All notices or other communications required or permitted to be furnished pursuant
                                            to the Agreement shall be in writing and shall be considered as delivered when received by
                                            the recipient.

 

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	d.	Application
                                            of Massachusetts Law: The Agreement, and the application or interpretation thereof,
                                            shall be governed exclusively by its terms and by the laws of the State of Massachusetts.
                                            Venue shall be deemed located in Middlesex County, Massachusetts.
	 	 
	e.	Counterparts:
                                            The Agreement may be executed in any number of counterparts, each of which shall
                                            be deemed an original, but all of which together shall constitute on and the same instrument.
	 	 
	f.	Binding
                                            Effect: Each of the provisions and agreements herein contained shall be binding upon
                                            and inure to the benefit of the personal representatives, devisees, heirs, successors, transferees
                                            and assigns of the respective parties hereto.
	 	 
	g.	Cooperation:
                                            During and following the active life of this Agreement, Executive shall give Executive’s
                                            assistance and cooperation willingly, upon reasonable notice (which shall include due regard
                                            to the extent reasonably feasible for Executive’s employment obligations and prior
                                            commitments), in any matter relating to Executive’s position with the Company or Executive’s
                                            knowledge as a result thereof as the company may reasonably request, including Executive’s
                                            attendance and truthful testimony where deemed appropriate by the Company, with respect to
                                            any investigation or the Company’s defense or prosecution of any existing or future
                                            claims or litigations or other proceeding relating to matters in which he was involved or
                                            had knowledge by virtue of Executive’s employment with the Company. The Company will
                                            reimburse Executive for reasonable out-of-pocket travel costs and expenses incurred by his
                                            (in accordance with Company policy) as a result of providing such assistance.
	 	 
	h.	Legal
                                            Fees and Costs: If a legal action is initiated by Executive against the Company,
                                            arising out of or relating to the alleged performance or non-performance of any right or
                                            obligation established hereunder, or any dispute concerning the same, any and all fees, costs
                                            and expenses reasonably incurred by the Company in investigating, preparing for, defending
                                            against, or providing evidence, producing documents or taking any other action in respect
                                            of, such action shall be the joint and several obligation of and shall be paid or reimbursed
                                            by Executive only if Executive is the unsuccessful party. If any other legal action (other
                                            than that which is referenced above) is initiated by a party to the Agreement against another,
                                            arising out of or relating to the alleged performance or non-performance of any right or
                                            obligation established hereunder, or any dispute concerning the same, each party shall be
                                            responsible for its own fees, costs and expenses reasonably incurred in investigating, preparing
                                            for, prosecuting, defending against, or providing evidence, producing documents or taking
                                            any other action in respect thereof.
	 	 
	i.	Indemnification:
                                            The Company hereby agrees to indemnify Executive and hold him harmless to the fullest
                                            extent permitted by law and under the bylaws of the Company against and in respect to any
                                            and all actions, suits, proceedings, claims, demands, judgements, costs, expenses (including
                                            reasonable attorney’s fees), losses, and damages resulting from Executive’s good
                                            faith performance of his duties and obligations with the Company, except in the case of gross
                                            negligence or willful misconduct, whether or not such claims, demands, judgements, costs,
                                            expenses, losses, and damages are asserted or filed during the active life of this Agreement.

 

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	j.	Survival:
                                            The Parties’ obligations under Sections 6, 7, 8, 10, 11, and 12 shall survive
                                            the Termination of this agreement.

 

	IN
  WITNESS WHEREOF, the parties have executed the Agreement,

 

	  /s/
                                            Erica L. Monaco 

                                                                     

                                                                     
	 
	Secretary
    of the Board of Directors	 
	 	 
	 /s/ Hermann Luebbert 	 
	Hermann
    Luebbert 	 

 

    	9EX-10.21

 Exhibit 10.21 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is made as of
                , 202    , by and among LianBio, a company organized under the laws of the Cayman Islands (the
“Company”), and                      (“Indemnitee”). 

RECITALS 
 The
Company and Indemnitee recognize that highly competent persons have become more reluctant to serve corporations as directors or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification
against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation. The Company and Indemnitee further recognize the uncertainties relating to liability insurance for directors and
officers, and the substantial increase in corporate litigation in general, subjecting directors and officers to expensive litigation risks. Indemnitee does not regard the current protection available as adequate under the present circumstances, and
Indemnitee and agents of the Company may not be willing to serve or continue to serve the Company without additional protection. The Company desires to attract and retain the involvement of highly qualified individuals, such as Indemnitee, and to
indemnify its directors and officers so as to provide them with the maximum protection permitted by law. 
 AGREEMENT 

In consideration of the mutual promises made in this Agreement, and for other good and valuable consideration, receipt of which is hereby
acknowledged, the Company and Indemnitee hereby agree as follows: 
 1. Indemnification. 

(a) Third Party Proceedings. To the fullest extent permitted by law, the Company shall indemnify Indemnitee if Indemnitee
is or was a party or is threatened to be made a party to any threatened, pending or completed action, suit, arbitration or proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative or investigative (each, a
“Proceeding”) (other than an action by or in the right of the Company) by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company, or any Related Entity (as defined below) of the Company,
or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, or by reason of any action or inaction on the part
of Indemnitee while serving in any such capacity (such reasons, collectively, the “Corporate Status”), against expenses (including attorneys’ fees), judgments, fines, penalties and amounts paid in settlement (if such settlement
is approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal Proceeding, Indemnitee had no reasonable cause to believe his or her conduct was unlawful. The termination of any Proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a 

 
presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any
criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful. For purposes of this Agreement, “Related Entity” means any parent, subsidiary and any other corporation, partnership,
limited liability company or other business entity in which the Company, its parent or subsidiary holds, or has the right to acquire, a substantial ownership interest in or control over such entity, either directly or indirectly. 

(b) Proceedings By or in the Right of the Company. To the fullest extent permitted by law, the Company shall indemnify
Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company or any Related Entity of the Company to procure a judgment in its favor by reason of the fact that Indemnitee is or
was a director, officer, employee or agent of the Company, or any Related Entity of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, limited liability
company, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in any such capacity, against expenses (including attorneys’ fees) and, to the fullest extent permitted by law,
amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld), in each case to the extent actually and reasonably incurred by Indemnitee in connection with the defense or
settlement of such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, except that no indemnification shall be made in respect of any claim, issue
or matter as to which Indemnitee shall have been finally adjudicated by court order or judgment to be liable to the Company in the performance of Indemnitee’s duty to the Company or its shareholders unless and only to the extent that the court
in which such Proceeding is or was brought shall determine that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which such court
shall deem proper. 
 (c) Mandatory Payment of Expenses. To the extent that Indemnitee has been successful on the merits
or otherwise in defense of any Proceeding referred to in Section 1(a) or Section 1(b) or the defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ fees) actually and
reasonably incurred by Indemnitee in connection therewith. 
 2. No Employment Rights. Nothing contained in this
Agreement is intended to create in Indemnitee any right to continued employment. 
 3. Expenses; Indemnification
Procedure. 
 (a) Advancement of Expenses. The Company shall advance all expenses incurred by Indemnitee
in connection with the investigation, defense, settlement or appeal of any Proceeding referred to in Section l(a) or Section 1(b) of this Agreement (including amounts actually paid in settlement of any such Proceeding). Indemnitee hereby
undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company as authorized hereby. 

  
 2 

 (b) Notice/Cooperation by Indemnitee. Indemnitee shall, as a condition
precedent to his or her right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any Proceeding against Indemnitee for which indemnification will or could be sought under this Agreement. Notice to
the Company shall be directed to the Chief Executive Officer of the Company and shall be given in accordance with the provisions of Section 12(d) below. In addition, Indemnitee shall give the Company such information and cooperation as it may
reasonably require and as shall be within Indemnitee’s power. 
 (c) Procedure. Any indemnification and advances
provided for in Section 1 and this Section 3 shall be made no later than thirty (30) days after the Company’s receipt of the written request of Indemnitee. If a claim under this Agreement, under any statute, or under any
provision of the Company’s Amended and Restated Memorandum and Articles of Association, as may be amended from time to time (the “Restated Memorandum and Articles”) providing for indemnification, is not paid in full by the
Company within thirty (30) days after a written request for payment thereof has first been received by the Company, Indemnitee may, but need not, at any time thereafter bring an action against the Company to recover the unpaid amount of the
claim and, subject to Section 11 of this Agreement, Indemnitee shall also be entitled to be paid for the expenses (including attorneys’ fees) of bringing such action. It shall be a defense to any such action (other than an action brought
to enforce a claim for expenses incurred in connection with any Proceeding in advance of its final disposition) that Indemnitee has not met the standards of conduct which make it permissible under applicable law for the Company to indemnify
Indemnitee for the amount claimed, but the burden of proving such defense shall be on the Company and Indemnitee shall be entitled to receive interim payments of expenses pursuant to Section 3(a) unless and until such defense may be finally
adjudicated by court order or judgment from which no further right of appeal exists. It is the parties’ intention that if the Company contests Indemnitee’s right to indemnification, the question of Indemnitee’s right to
indemnification shall be for the court to decide, and neither the failure of the Company (including its Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel, or its shareholders) to have made a
determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct required by applicable law, nor an actual determination by the Company (including its Board of Directors,
any committee or subgroup of the Board of Directors, independent legal counsel, or its shareholders) that Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable
standard of conduct. 
 (d) Notice to Insurers. If, at the time of the receipt of a notice of a claim pursuant to
Section 3(b) hereof, the Company has liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company
shall thereafter take all necessary or appropriate action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 

(e) Selection of Counsel. In the event the Company shall be obligated under Section 3(a) hereof to pay the expenses
of any Proceeding against Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding at its own expense, with counsel approved by Indemnitee, upon the delivery to Indemnitee of written notice of its election
so to do. After delivery of such notice, approval of such counsel by Indemnitee and the retention 

  
 3 

 
of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same Proceeding,
provided that (i) Indemnitee shall have the right to employ counsel in any such Proceeding at Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company,
(B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (C) the Company shall not, in fact, have employed counsel to assume the
defense of such Proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.    The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation
on the Indemnitee without the Indemnitee’s written consent. Neither the Company nor the Indemnitee will unreasonably withhold or delay their consent to any proposed settlement. 

4. Additional Indemnification Rights; Nonexclusivity. 

(a) Scope. Notwithstanding any other provision of this Agreement but subject to Section 9 of this Agreement, the
Company hereby agrees to indemnify the Indemnitee to the fullest extent permitted by law against all expenses, judgments, fines, penalties and amounts paid in settlement actually and reasonably incurred by him or on his behalf as a result of his
Corporate Status, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Company’s Restated Memorandum and Articles, or by statute. In the event of any change, after the date of
this Agreement, in any applicable law, statute, or rule which expands the right of a Cayman Islands company to indemnify a member of its board of directors or an officer, such changes shall be deemed to be within the purview of Indemnitee’s
rights and the Company’s obligations under this Agreement. In the event of any change in any applicable law, statute or rule which narrows the right of a Cayman Islands company to indemnify a member of its board of directors or an officer, such
changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect on this Agreement or the parties’ rights and obligations hereunder. 

(b) Nonexclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which
Indemnitee may be entitled under the Company’s Restated Memorandum and Articles, any agreement, any vote of shareholders or disinterested members of the Company’s Board of Directors, the Companies Law or other laws of the Cayman Islands,
as amended from time to time, or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while holding such office. The indemnification provided under this Agreement shall continue as to Indemnitee
for any action taken or not taken while serving in an indemnified capacity even though he or she may have ceased to serve in any such capacity at the time of any Proceeding or at the time any liability or expense is incurred for which
indemnification can be provided under this Agreement. 
 5. Partial Indemnification. If Indemnitee is entitled under
any provision of this Agreement to indemnification by the Company for some or a portion of the expenses, judgments, fines, penalties or amounts paid in settlement actually or reasonably incurred by Indemnitee in the investigation, defense, appeal or
settlement of any Proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines, penalties or amounts paid in settlement to which Indemnitee is
entitled. 

  
 4 

 6. Mutual Acknowledgment. Both the Company and Indemnitee acknowledge
that in certain instances, U.S. federal law or public policy or the laws of the applicable jurisdiction may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise (and, in the case of U.S. federal law,
override applicable U.S. state law). For example, the Company and Indemnitee acknowledge that the U.S. Securities and Exchange Commission (the “SEC”) has taken the position that indemnification is not permissible for liabilities
arising under certain U.S. federal securities laws, and U.S. federal legislation prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to
undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee. 

7. Liability Insurance. The Company shall, from time to time, make the good faith determination whether or not it is
practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the directors and officers of the Company with coverage for losses from wrongful acts, or to ensure the Company’s
performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all policies of such
liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the
Company’s officers, if Indemnitee is not a director of the Company but is an officer. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such
insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or
if Indemnitee is covered by similar insurance maintained by a Related Entity of the Company. 
 8. Severability.
Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law. The Company’s inability, pursuant to court order, to perform its obligations under this
Agreement shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this Section 8. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent
jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated, and the balance of this Agreement not so invalidated shall be
enforceable in accordance with its terms. 

  
 5 

 9. Exceptions. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement: 
 (a) Claims Initiated by
Indemnitee. To indemnify or advance expenses to Indemnitee with respect to Proceedings initiated or brought voluntarily by Indemnitee and not by way of defense, except with respect to Proceedings brought to establish or enforce a
right to indemnification under this Agreement or any other statute or law or otherwise as required under applicable laws, but such indemnification or advancement of expenses may be provided by the Company in specific cases if the Board of Directors
finds it to be appropriate; 
 (b) Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by Indemnitee
with respect to any Proceeding instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such Proceeding was not made in good faith or
was frivolous; 
 (c) Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the extent such expenses or liabilities have been paid directly to Indemnitee by an insurance carrier under a policy of
officers’ and directors’ liability insurance maintained by the Company; or 
 (d) Claims under
Section 16(b). To indemnify Indemnitee for expenses or the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the U.S. Securities
Exchange Act of 1934, as amended, or any similar successor statute. 
 10. Construction of Certain Phrases. 

(a) For purposes of this Agreement, references to the “Company” shall include, in addition to the resulting corporation, any
constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees or agents,
so that if Indemnitee is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation,
partnership, limited liability company, joint venture, trust or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with
respect to such constituent corporation if its separate existence had continued. 
 (b) For purposes of this Agreement, references to
“other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to “serving at
the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit
plan, its participants, or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to
have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement; references to the “expenses” shall include, without limitation, attorneys’ fees, retainers, court costs,
transcript costs, fees and expenses of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and other disbursements or expenses of the types customarily incurred in connection
with prosecuting, 

  
 6 

 
defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery
in any Proceeding, and shall also include expenses incurred in connection with any appeal resulting from any Proceeding and any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments
under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersede as bond or other appeal bond or its equivalent, but shall not include the amount of judgments, fines or penalties
against Indemnitee or amounts paid in settlement in connection with such matters. 
 11. Attorneys’ Fees. In the
event that any action is instituted by Indemnitee under this Agreement to enforce or interpret any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable attorneys’ fees, incurred by
Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction determines that each of the material assertions made by Indemnitee as a basis for such action were not made in good faith or were frivolous.
In the event of an action instituted by or in the name of the Company under this Agreement or to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including attorneys’
fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and cross-claims made in such action), unless as a part of such action the court determines that each of Indemnitee’s material
defenses to such action were made in bad faith or were frivolous. 
 12. Miscellaneous. 

(a) Governing Law. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the
parties hereto shall be governed, construed and interpreted in accordance with the laws of the Cayman Islands, without giving effect to principles of conflicts of law. 

(b) Entire Agreement; Enforcement of Rights. This Agreement sets forth the entire agreement and understanding of the
parties relating to the subject matter herein and merges all prior discussions between them. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the
parties to this Agreement. The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such party. 

(c) Construction. This Agreement is the result of negotiations between and has been reviewed by each of the parties hereto
and their respective counsel, if any; accordingly, this Agreement shall be deemed to be the product of all of the parties hereto, and no ambiguity shall be construed in favor of or against any one of the parties hereto. 

(d) Notices. Any notice, demand or request required or permitted to be given under this Agreement shall be in writing and
shall be deemed sufficient when delivered personally or sent by fax or 48 hours after being sent by nationally-recognized courier or deposited in the mail (or the postal service of the applicable jurisdiction), as certified or registered mail, with
postage prepaid, and addressed to the party to be notified at such party’s address or fax number as set forth below or as subsequently modified by written notice. Notice by electronic mail shall be deemed to be effected by properly addressing,
and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as aforesaid, if such day is a business day, otherwise the next business day. 

  
 7 

 (e) Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Either party may execute this Agreement by facsimile or scanned signature, and the other party will be entitled to rely on such
facsimile or scanned signature as conclusive evidence that this Agreement has been duly executed by such party. 
 (f) Successors and
Assigns. This Agreement shall be binding upon the Company and its successors and assigns, and inure to the benefit of Indemnitee and Indemnitee’s heirs, legal representatives and assigns. 

(g) Subrogation. Except as provided under Section 1(d), in the event of payment to Indemnitee by the Company under
this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable
the Company to effectively bring suit to enforce such rights. 
 [Signature Pages Follow] 

 

  
 8 

 The parties have executed this Indemnification Agreement as of the date first set forth
above. 
  

	
	THE COMPANY:
	
	LianBio
	
	By:
                                         
                                   
	
	Name:
	
	Title:
	
	Address:
	
	Facsimile:
	
	E-mail Address:

 [Signature Page to Indemnification Agreement] 

 The parties have executed this Indemnification Agreement as of the date first set forth
above. 
  

	
	THE INDEMNITEE:
	
	  

	
	  

	Name:
	
	Address:
	
	Facsimile:
	
	E-mail Address:

 [Signature Page to Indemnification Agreement]

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