Document:

EX-10.22

 Exhibit 10.22 

This Laboratory Service Agreement (“Agreement”) is made effective on the date of the last signature below (“Effective
Date”) by and between 
 LABCORP CENTRAL LABORATORY SERVICES LP (formerly known as Covance Central Laboratory Services LP) an
Indiana limited partnership, with its principal place of business at 8211 SciCor Drive, Indianapolis, Indiana 46214, USA; and LABCORP CENTRAL LABORATORY SERVICES SÀRL (formerly known as Covance Central Laboratory Services
SÀRL), with its principal place of business at Rue Moise-Marchines 7, 1217 Meyrin, Geneva Switzerland (collectively “Labcorp”); and 

ProKidney with its principal place of business located at 10 Market St., #688 Camana Bay, Grand Cayman KY1-9006
Cayman Islands (“Sponsor”). 
 (each a “Party” and collectively the “Parties”). 

 

 IT IS AGREED 
  

	1	 DEFINITIONS 

1.1 In this Agreement, unless the context otherwise requires, the following words and expressions shall have the following meanings: 

“Affiliate” means any entity controlling, controlled by, or in common control with a Party. For the purposes of this definition,
“Control” shall mean ownership or control, directly or indirectly of more than fifty percent (50%) of the common voting stock or ordinary shares in the entity or the right to appoint fifty percent (50%) or more of the directors of
that entity. With respect to Labcorp, the term Affiliate shall include Laboratory Corporation of America Holdings and any business entity that is controlled by or is under common control with Laboratory Corporation of America Holdings. 

“Anti-Corruption Laws” means any anti-bribery and anti-corruption laws, rules, regulations applicable to either Party (each as amended from
time to time) together with any applicable implementing legislation including any applicable local law addressing bribery or corruption. 

“Background IP” means all pre-existing intellectual property belonging to or licensed to a Party or
other intellectual property created outside the scope of the Services. 
 “Claim” means any third party claims, demands, assessments,
actions, suits, proceedings, settlements or investigations. 
 “Confidential Information” means any and all
non-public information or materials and all derivatives thereof, in any and all forms, howsoever disclosed or obtained, including business plans, financial information, client lists, and requirements,
techniques, designs, methods, processes and procedures, which: (i) is identified by a suitable legend or other marking as being confidential (or similar designation) in a prominent position or (ii) is described as being confidential at the
time of disclosure or (iii) the disclosing Party regards or should reasonably be expected to regard as proprietary and confidential given the nature of the information. 

“Labcorp Property” means inventions, proprietary processes, software (including codes), data, technology,
know-how and other intellectual property that have been independently developed or discovered by Labcorp or its Affiliates without the use of Sponsor’s Confidential Information, including those that
relate to the proprietary innovative testing procedures, laboratory testing, data collection or data management, procedural manuals, delta flags, nucleic acid based vectors, analytical procedures and approaches that are not specific for use with the
Sponsor’s Background IP even if such are developed in the performance

 
of the Services or are captured in documents pertaining to the Services (i.e. laboratory notebooks), techniques, models, non-product specific components of
questionnaires, management tools and any other materials, employed, developed or acquired by Labcorp or its Affiliates which are not specifically part of the Services. 

“Data Protection Laws” mean all applicable privacy, data protection or similar laws and regulations anywhere in the World, as the same may be
amended from time to time, including to the extent applicable to the respective Services and any applicable implementing legislation or any amendment thereto. 

“Deliverables” means as applicable to the Services, Results, or any other deliverable specified in this Agreement. 

“Force Majeure Event” means circumstances or causes beyond the reasonable control of a Party, including war, threat of war or warlike
conditions, blockade, embargo, fire, explosion, lightning, storm, drought, flood, earthquake or other natural disaster, pandemic or epidemic, power failure, acts of terrorism, riot, civil unrest, insurrection, acts of government or other
international bodies, political subdivision and any other events which by their nature could not have been foreseen by the Parties, or, if it could have been foreseen were unavoidable by a reasonable prudent business. 

“HBS Donor” means an individual, living or deceased, from whom the HBS was obtained. 

“Human Biological Samples” or “HBS” means any human biological material, including human bodily parts and organs in whole or
sub-samples, any tissue, skin, bone, muscle, connective tissue, blood, cerebrospinal fluid, gametes, or sub-cellular structures such as DNA, or any derivative or product
of such human biological materials, cell lines, bodily fluids, blood derivatives and urine. 
 “IEC/IRB” means an independent ethics
committee or institutional review board. 
 “Informed Consent” means an IEC/IRB approved informed consent form signed by the HBS Donor
authorizing the Use of their HBS. 
 “Invention” means any invention (whether or not patentable), proprietary processes, software
(including codes), data, technology, know-how or other intellectual property discovered, conceived or made by Labcorp or its Affiliates specifically as a part of the Services for the Sponsor and directly
relating to the Test Materials. 
 “Loss” means any loss, cost, damage or expense (including reasonable legal expenses).

 

  
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 “Project” means a Study, project or assignment between Labcorp and Sponsor. 

“Protocol” means the document which specifies the laboratory testing procedures as written by Sponsor as applicable for the performance of a
Study and is provided to Labcorp. 
 “Regulatory Authority” means any national or state or local agency, authority, department,
inspectorate, minister, ministry official, parliament or public or statutory person of any government of any country having jurisdiction over either any of the activities contemplated by this Agreement or the Parties. 

“Regulatory Requirements” means all laws, statutes, acts, rules, regulations, guidelines, codes, orders, directives or other legally
binding requirements of any Regulatory Authority and industry standards or codes of conduct applicable to the Services. 
 “Results” mean
materials, data, Inventions, documents and information produced or developed by Labcorp exclusively in the course of the Services and directly related to the Test Materials. 

“Services” means the services provided by Labcorp to the Sponsor as more particularly described in this Agreement. 

“SOW” means the scope of work, which is the primary Labcorp laboratory specification document and defines all study specific Services to be
provided for a Protocol. 
 “Sponsor Information” means Test Materials, data, specification, or other materials or information supplied by
the Sponsor to Labcorp in connection with the Services. 
 “Study” means a clinical trial or scientific evaluation of the Test Materials on
the terms and conditions of the Protocol. 
 “Subcontractor” means a third party approved, reviewed and contracted by Labcorp for Services
within the scope of this Agreement. 
 “System Data” means control data from laboratory tests or transactional, volume and performance data
related to the Services, which does not contain any personally identifiable information or Sponsor Confidential Information. 
 “Test
Materials” means compounds, materials or other substances as described in the Protocol to be tested or used in the performance of the Services and provided to Labcorp by the Sponsor. 

“Use” (in the context of Section 13) means collection, storage, transfer (including import and export), use and return or disposal of
HBS including by commercial organizations. 
 “Vendor” means third-party service providers other than a Subcontractor for which Labcorp may
hold the contract with such service provider for the convenience or benefit of the Sponsor in connection with Services under this Agreement and as set forth in the applicable SOW. 

1.2 In this Agreement, unless the context otherwise requires, references to: 

(a) Schedule and Section headings are inserted for convenience only and do not affect the construction or interpretation of this Agreement; 

(b) writing or written includes faxes and e-mail; 

 

 (c) a particular law or statutory provision is a reference to it as it is in force for the time being taking
account of any amendments, extensions, or re-enactments and includes any subordinate legislation for the time being in force made under it; 

(d) a person includes a corporate or unincorporated body; 
 (e)
any gender includes all genders; 
 (f) including, include, in particular or any similar expression shall be construed as illustrative
and shall not limit the sense of the words preceding those terms; 
 (g) words in the singular include the plural and vice versa. 

1.3 If this Agreement is translated, the English language text shall prevail. 
  

	2	 SERVICES 

2.1 Labcorp through itself and/or its Affiliates hereby agrees to perform Services for Sponsor’s protocol REGEN006. Such Services shall be performed
pursuant to the terms and conditions contained herein and the terms of the Protocol. 
 2.2 Any changes or modifications to the Protocol and/or Services
provided by Labcorp, or any Sponsor request for additional Services may commence upon Labcorp’s receipt of Sponsor’s written approval of the revised SOW. Upon Sponsor’s SOW signature, Labcorp shall provide such Services to the Sponsor
and the Sponsor shall pay for costs associated with such Services at its current standard rates. Labcorp reserves the right to refuse to perform any Services of Test Materials that are hazardous in nature when performed in accordance with relevant
instructions and specifications, but only where such hazard was not known prior to signing the SOW. 
 2.3 Labcorp shall provide each investigator site with
Project-related materials and documentation, including the relevant Protocol, as well as Project- and visit-specific specimen collection supplies needed to collect and ship specimens. The specimen collection kits shall also have a test requisition
form or other electronic method to capture such data, for the particular Project. 
 2.4 Should a kit be lost through no fault of Labcorp, or should a kit
expire at the investigator site, Labcorp will supply replacement kits for those that are lost, expired, or otherwise rendered unusable, at an amount equal to the price listed in the quote for Services attached hereto (“Budget”) per
kit for the same kit/visit that is being replaced. 
 2.5 After performing Services, Labcorp will store the remaining Study specimens for the length of time
and under storage conditions as described in the applicable SOW. The remaining specimens may subsequently be shipped to Sponsor or another party as specified in the SOW or if not specified in the SOW, held as otherwise instructed by the Sponsor. In
no event shall Labcorp’s liability for any breach or default with regard to storage of an archival specimen exceed the fee it has been paid for storage of that specimen for the previous twelve (12) months. 

 

	3	 TERM AND TERMINATION 

3.1 The term of this Agreement shall commence on the date hereof and continue until the conclusion of the Study.

 

  
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 3.2 Either Party may terminate this Agreement with immediate effect by notice in writing in the event that the
other Party: 
 (a) commits a material breach of any term of this Agreement which breach is irremediable or (if such breach is remediable) fails to remedy
that breach within a period of thirty (30) days after being notified in writing to do so; or 
 (b) repeatedly breaches any of the terms of this
Agreement in such a manner as to reasonably justify the opinion that its conduct is inconsistent with it having the intention or ability to give effect to the terms of this Agreement; or 

(c) suspends, or threatens to suspend, payment of all or substantially all of its debts or is unable to pay all or substantially all of its debts as they fall
due or admits in writing its inability to pay its debts or is deemed by a court of competent jurisdiction to be unable to pay its debts; or 
 (d) suspends,
or threatens to suspend, or ceases or threatens to cease to carry on, all or substantially the whole of its business; or 
 (e) presents a petition or has a
petition presented for its winding-up or has a receiver or an administrative receiver appointed of all or substantially all of its assets; or 

(f) any event occurs, or proceeding is initiated, in any jurisdiction to which it is subject that has an effect equivalent or similar to any of the events
mentioned above. 
 3.3 Sponsor may terminate this Agreement for any reason upon ninety (90) days prior written notice to Labcorp. 

3.4 In the event of such termination, Labcorp shall be entitled to full payment for work properly performed on the Study through the date work on such Study
is concluded, including, without limitation, all non-cancelable fees and other out-of-pocket expenses of Labcorp for such Study.

 3.5 The termination of this Agreement shall not relieve either Party of its obligations to the other with respect to: (a) maintaining the
confidentiality of Confidential Information; (b) obtaining consents for the use of names; (c) ownership of and assignment of inventions; (d) indemnification; (d) limitation of liability; (e) compensation for Services performed;
(f) publications; and (g) retention of records. The provisions of this Section together with any other section which is necessary for the interpretation or enforcement of this Agreement shall survive the expiry or termination of this
Agreement howsoever arising. 
  

	4	 REGULATORY COMPLIANCE 

4.1 Labcorp will perform its Services in accordance with the terms of this Agreement, the applicable Protocol, and all Regulatory Requirements applicable to
the Project. All activities undertaken under this Agreement by Labcorp shall comply in all material respects with College of American Pathologists (CAP) rules. Labcorp represents that it has and shall maintain Clinical Laboratory Improvement Act
(CLIA) certification. This Agreement shall contain all the conditions under which Labcorp will provide clinical laboratory Services. Labcorp makes no other express or implied commitments or warranties concerning the performance of the Study. 

4.2 In the event that compliance with any new Regulatory Requirements necessitates a change in this Agreement, Labcorp will submit to Sponsor a revised
technical and cost proposal for Sponsor’s acceptance prior to performing Services.

 4.3 In the event of a material conflict in applicable Regulatory Requirements, the Sponsor will designate which
regulations shall be followed by Labcorp in its performance of the Services and the Sponsor shall be fully responsible, to the extent permitted by law, for the outcome of such a decision. 

 

	5	 FEES, BILLING AND TAXES 

5.1 Fees for the Project are set forth in the attached Budget. Sponsor acknowledges that SOW finalization, changes and/or modifications to the Project may
result in a revised Budget. The Budget contains all the applicable discounts and Services that will be provided for that Project. 
 5.2 During performance
of Services, Labcorp may be required to provide certain items including but not limited to ancillary supplies, logistics and minor modifications to database design (“Items”). Items may not appear in Sponsor’s Budget and will
require written approval from Sponsor prior to the commencement of work on said items. Total fees for these items will be capped at $150,000. Sponsor agrees to remit payment for Items invoiced in accordance with payment terms provided in
Section 5.4. 
 5.3 Upon execution, Labcorp will assess a fee equal to five per cent (5%) of the value of the contract Budget
(Deposit). Sponsor will pay the Deposit within thirty (30) calendar days after receipt of invoice. 
 5.4 Each month, Labcorp will invoice
Sponsor for all fees due and expenses incurred while providing Services during the previous month. Payment is due thirty (30) calendar days from invoice receipt. Payments not received within five business days of Labcorp’s notice to
Sponsor of non-payment may be subject to a fifteen per cent (15%) per annum late payment fee. 
 5.5 Labcorp shall
retain the Deposit until the Study invoices have reached ninety-five percent (95%) of the total Study Budget at which point the Deposit will be applied to monthly invoices. At the end of each Study, Labcorp shall conduct a final account
reconciliation and will refund to Sponsor any remaining amounts of the Deposit within sixty (60) days after the date of the final invoice. 
 5.6 For
budgeting purposes, Labcorp creates the Budget using local unit pricing. The local unit pricing is then converted to the billing currency, as requested by Sponsor, using the Reuters exchange rate for the month the Budget is first created. Unless
specified otherwise, this exchange rate remains unchanged during the course of the Study to simplify budget comparisons and enable Sponsor to track changes to the Study unrelated to changes in currency exchange rates. 

5.7 For invoicing purposes, Services are billed based on the contracted local unit prices. Each month, at the time of invoice creation, the local unit prices
are converted to the billing currency using the Reuters exchange rate for the month in which the Services were performed. 
 5.8 Labcorp will hold prices
unchanged for twelve (12) months from Project start up. Thereafter, fees may be adjusted annually by Labcorp upon thirty (30) days written notice to Sponsor. 

5.9 Invoices will be provided by Labcorp to: ProKidney Accounts Payable payables@ProKidney.com

 

  
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 5.10 Payment shall be made from Sponsor to Labcorp as follows: 

Payment by Check: 
 Labcorp Central Laboratory Services, Inc. 

P.O. Box 2484 
 Burlington, NC 27216 

Payment by Bank Transfer: 
 Labcorp Central Laboratory Services,
Inc. 
 Wells Fargo Bank, N.A 
 420 Montgomery, San Francisco,
CA 94104 
 Routing Transit Number/ABA: 121000248 
 Account
Number: 4244842191 
 SWIFT: WFBIUS6S 
 5.11 If a dispute
arises between the Parties in respect of any part of an invoice, and unless otherwise agreed in a Work Order, Sponsor (i) must pay all undisputed parts of the invoice when due; (ii) must notify Labcorp in writing of the particulars of the
dispute within fifteen (15) business days of receipt of the invoice; and (iii) may withhold payment of the disputed part of the invoice, provided that Sponsor endeavors promptly and in good faith to resolve the dispute pursuant to
Section 30. If Sponsor fails to pay the amount of any undisputed invoice or part of an invoice within the time prescribed in Section 5.4, five (5) business days after giving Sponsor written notice after providing Sponsor, Labcorp may
charge interest on any such amount at the rate of one and one half percent (1.5%) per month, or the maximum rate allowed by Applicable Law if lower, will accrue from the date the payment was originally due until the date of payment, and
(b) five (5) business days after giving Sponsor written notice that undisputed amounts are due, Labcorp may elect to suspend work on a Study or to withhold Deliverables, reports or other material in respect of a Study for so long as Sponsor
fails to pay such undisputed amounts until such undisputed amounts are paid. If Sponsor requests a material change to the Project at any time which would affect the Services, Labcorp will notify Sponsor of the new proposed budget amount and, if
approved and agreed to by Sponsor, Labcorp will revise fees to reflect the change in the SOW and Budget. 
 5.12 Upon written notification by Sponsor that
the Study has been concluded or upon completion of all Services required by Labcorp under this Agreement, Labcorp will issue a final invoice for Services rendered to identify amounts due to Labcorp or refund due to Sponsor. 

5.13 Fees payable under this Agreement shall not include local, state, federal or foreign sales or use taxes, excise taxes, goods and services tax, value
added tax or consumption taxes, as applicable. Any applicable taxes will be billed to and paid by Sponsor without deduction to amounts owed to Labcorp. 
  

	6	 SITE VISITS 

6.1 The Sponsor or its representative (which shall not be a competitor of Labcorp) may visit Labcorp’s premises where the Services are being performed at
reasonable times, on reasonable notice and with reasonable frequency during normal business hours to observe the progress of the Services. Labcorp will assist the Sponsor in scheduling such visits. 

6.2 The Sponsor acknowledges that the Sponsor’s representatives granted access to Labcorp facilities during any such visits may have access to
confidential and proprietary information of Labcorp. The Sponsor agrees that all such confidential and proprietary information of Labcorp obtained

 
or observed by the Sponsor during such visits shall remain the sole property of Labcorp and the Sponsor shall treat such information as Confidential Information in accordance with Section 8
of this Agreement. 
  

	7	 REGULATORY INSPECTIONS AND AUDITS 

7.1 In the event of a Party receiving a notice from a Regulatory Authority which directly relates to the Services, the Party receiving such notice shall
promptly notify the other Party or forward to the other Party a copy of such notice (or extract thereof). Each Party will cooperate with the other in responding to such notice before referring to the other Party in any regulatory correspondence or
disclosing any Confidential Information to a Regulatory Authority. However, each Party acknowledges that it may not direct the manner in which the other Party fulfils its obligations to permit inspection by Regulatory Authorities. 

7.2 Labcorp shall cooperate with any inspection or audit by a Regulatory Authority and shall notify the Sponsor promptly of any request by a Regulatory
Authority. 
 7.3 Labcorp agrees that, during an inspection or audit by a Regulatory Authority concerning the Services, it will not disclose information and
materials that are not required to be disclosed to such Regulatory Authority, without the prior written consent of the Sponsor. 
 7.4 If any inspections or
audits conducted pursuant to this Section 7 that result in a finding that Labcorp has failed to comply with the terms of this Agreement, Labcorp shall promptly take such measures at its own cost and expense as are necessary to correct such
defaults. 
 7.5 It is agreed that where any audit of Labcorp concerns or relates to referral laboratory testing or shipping methods of Labcorp, the Sponsor
or its representative (which shall not be a competitor of Labcorp) may only confirm or not if Labcorp is properly billing such costs. The Sponsor expressly agrees that Sponsor’s representatives may not directly or indirectly provide any details
of the charges to the Sponsor, such as the actual amount of the referral laboratory testing or shipping costs incurred by Labcorp. 
  

	8	 CONFIDENTIAL INFORMATION 

8.1 Each Party agrees that all Confidential Information of the disclosing Party is and shall be the sole property of the disclosing Party. 

8.2 Without prejudice to any Labcorp Property, all Results, Inventions, data and records developed by Labcorp or its Affiliates specifically from the
performance of the Services shall be the Confidential Information of the Sponsor. 
 8.3 Each Party agrees to hold the Confidential Information of the other
Party in confidence and in a manner consistent with the way in which it maintains the confidentiality of its own proprietary information, being at least a reasonable standard of care. Each Party shall disclose the Confidential Information only on a need-to-know basis, to its employees, officers, directors, representatives and third-party investigators and who are bound to retain the Confidential Information in
confidence. 
 8.4 Each Party agrees that, except as necessary to fulfil its obligations under this Agreement, it will not use or disclose to any third
party any of the Confidential Information. 

 

  
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 8.5 The obligations of non-use and
non-disclosure shall not apply to Confidential Information that the receiving Party can show: 
 (a) was, or becomes,
publicly known through no fault of the receiving Party; or 
 (b) was lawfully obtained from a third party without restriction as to its use or disclosure;
or 
 (c) was already in the possession of the receiving Party prior to disclosure as shown by the receiving Party’s written records; or 

(d) was independently developed by the receiving Party without the benefit of the Confidential Information as shown by the receiving Party’s
contemporaneous written records; or 
 (e) is required for Sponsor’s pursuit of registration of a product connected with the Services with a government
agency. 
 8.6 The receiving Party shall be entitled to disclose Confidential Information to the extent required by any law, rule, regulation, order, decree
or subpoena, except that the receiving Party shall, unless restricted by law or where not practicable, promptly notify the other Party of such requirement prior to the disclosure and shall cooperate with the disclosing Party to seek to oppose,
minimize or obtain the confidential treatment of the requested disclosure to the extent of such order. 
 8.7 The obligations in this Section 8 shall
remain in full force and effect for a period of seven (7) years following termination of this Agreement except with respect to Confidential Information which is considered a trade secret under applicable law, which shall
remain confidential as long as such Confidential Information retains its status as a trade secret. Labcorp shall not disclose any trade secret to Sponsor. 

8.8 In the event of actual or threatened breach or violation of this Section 8, the disclosing Party shall have the right to seek injunctive relief in
any court of competent jurisdiction. 
  

	9	 INTELLECTUAL PROPERTY RIGHTS 

9.1 All Background IP is and shall remain the exclusive property of the Party owning it and except as expressly provided in this Agreement, no Party shall
acquire any rights in or to the Background IP of the other Party. 
 9.2 The Sponsor acknowledges that Labcorp Property is owned or licensed by Labcorp or
its Affiliates. The Parties agree that any improvement, enhancement or modification made, conceived or developed by Labcorp to any Labcorp Property in the performance of the Services which is not (i) specific or related directly to the Test
Materials, or (ii) an Invention, shall be deemed Labcorp Property and shall vest absolutely and exclusively in Labcorp. In addition, subject to Sections 8 and 9 of this Agreement, Labcorp and its Affiliates shall be entitled to use and exploit
any skills, techniques or know-how acquired, developed or used in the course of the Services. Strategic insight and proposed Project design and scope provided in any quotation by Labcorp shall remain the
property of Labcorp and may be used by the Sponsor only to assess whether it wishes to pursue such work with Labcorp. 
 9.3 Without prejudice to Sections
9.1 and 9.2, and upon receipt by Labcorp of payment in full of all amounts due and payable under this Agreement, the Sponsor will have title to the Deliverables and all intellectual property rights arising

 
therefrom. Labcorp agrees to assign such rights to the Sponsor except that one (1) copy of the Results may be retained by Labcorp for regulatory or legal compliance purposes. Labcorp hereby
grants to Sponsor a non-exclusive, worldwide, transferrable, perpetual, royalty-free license to use any Labcorp Background IP incorporated or included in the Deliverables for the sole purpose of and to the
extent necessary to use, incorporate or explain any Deliverable (without modification), and for obtaining regulatory approvals in connection with such Deliverable. In no event shall Sponsor use or distribute Labcorp Background IP on a stand-alone
basis, separate from the Deliverables. Notwithstanding the foregoing, the Sponsor hereby grants Labcorp an unrestricted, royalty-free license to aggregate and use any System Data produced by or for Labcorp as part of the Services with other System
Data owned or licensed by Labcorp provided that Labcorp shall not identify such data as belonging to the Sponsor and Sponsor is not identifiable through such aggregated data. 

9.4 Without prejudice to Sections 9.1 and 9.2, Labcorp shall promptly disclose to the Sponsor (or its nominee) all Inventions and hereby assigns and agrees to
assign to the Sponsor (or its nominee) the rights to such Inventions and shall do all acts that are reasonably necessary to vest the Inventions in the name of the Sponsor (or its nominee). 

Where an Invention is a laboratory testing method, or other laboratory processes used by Labcorp in the performance of its laboratory testing services, the
Sponsor hereby agrees to grant to Labcorp and its Affiliates a non-exclusive, non-transferable, irrevocable, perpetual, royalty-free, worldwide license to use the
Invention solely to perform its laboratory testing services, in each case subject to Section 8. 
  

	10	 REMEDIES AND LIMITATION OF LIABILITY 

10.1 In the event of a material error by Labcorp that prevents proper performance under this Agreement or which renders the Services in whole or in part
unacceptable to a Regulatory Authority to which the Sponsor intends to submit the Results, Labcorp’s sole obligation to Sponsor shall be for Labcorp, in agreement with the Sponsor, to either: (a) repeat the defective part of the Services
at Labcorp’s own cost; or (b) refund to the Sponsor the amount paid for the defective part of the Services. 
 10.2 Labcorp’s total liability
to the Sponsor, whether in contract, tort (including negligence) or otherwise, shall in no circumstances exceed the total price paid by the Sponsor for the Services that are the subject of this Agreement. 

10.3 Nothing in this Agreement excludes or limits the liability of either Party where liability cannot be excluded or restricted as a matter of law. 

10.4 Except for any liability resulting from any breach of Section 8 or indemnification obligation pursuant to Section 11, Labcorp will not be
liable to the Sponsor for any Loss in respect of any (a) loss of profit, opportunity, business, or goodwill (in each case whether direct or indirect); or (b) any indirect, consequential, punitive, exemplary or special damages or losses,
arising under or in connection with this Agreement, and each type of loss arising under this Section 10.4 shall be severable in accordance with Section 22 of this Agreement. To the extent that Labcorp agrees to perform Services for Sponsor
Affiliates, Labcorp shall only be liable to the entity named in this Agreement and not for multiple claims by Sponsor Affiliates.

 

  
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 10.5 Labcorp shall not be liable for any failure, error or delay in performing the Services if such failure,
error or delay is caused by Sponsor, or is a result of an express instruction from Sponsor or a change in Sponsor Information. 
 10.6 Labcorp shall have no
liability to Sponsor for loss, damage, delay or non-delivery/non-collection of any samples or shipment dispatched by Labcorp to Sponsor or to any third party designated
by Sponsor in connection with the Services that are caused by the acts or omissions of any third party delivery services or carrier (“Carrier”). Notwithstanding the foregoing, to the extent permitted by law, Labcorp shall have the
benefit of any right or remedy permitted under international or domestic law and any sums recoverable from a Carrier shall be paid to the Sponsor. For the avoidance of doubt, a Carrier is not considered a Subcontractor for the purposes of this
Agreement. 
  

	11	 INDEMNITIES 

11.1 The Sponsor shall defend, indemnify, and hold harmless Labcorp and its respective Affiliates and their respective officers, directors, employees and
agents (“Labcorp Group”) from any Loss resulting from any Claim arising from or related to, directly or indirectly: 
 (a) personal injury
to a participant in the Study or personal injury to any employee within the Labcorp Group directly or indirectly caused by the Test Material; 
 (b)
Labcorp’s proper execution and/or proper performance of its obligations under this Agreement; 
 (c) the Sponsor’s use of the Results or
Deliverables or its use or marketing of any substance tested in association with the Study by Labcorp; 
 (d) the negligence or intentional misconduct of
the Sponsor; 
 (e) the Test Material’s harmful or otherwise unsafe effects, including, without limitation, a Claim based upon Sponsors or any other
person’s use, consumption, sale, distribution or marketing of any substance tested in association with the Study; or 
 (f) the infringement, unlawful
disclosure or misappropriation of copyright, patent, trade secret or other intellectual property of a third party by reason of the proper performance of the Services using the Sponsor Information, provided that if such Loss or Claim arises in whole
or in part from Labcorp’s negligence or intentional misconduct, then the amount of such Loss that Sponsor shall indemnify the appropriate person or entity within the Labcorp Group pursuant to this Section 11 shall be reduced by an amount
in proportion to the percentage of Labcorp’s responsibilities for such Loss as determined by a court of competent jurisdiction in a final and non-appealable decision or in a binding settlement between the
Parties. 
 11.2 Labcorp shall defend, indemnify and hold harmless the Sponsor and its Affiliates and their respective officers, directors and employees
(the “Sponsor Group”) from any Loss resulting from any Claim arising from or associated directly with, a breach of this Agreement by Labcorp, or the negligence or intentional misconduct of Labcorp, provided that if such
Losses or Claims arise in whole, or in part, from the Sponsors Group’s negligence or intentional misconduct, then the amount of such Losses that Labcorp shall be responsible for pursuant to this Section 11 shall be reduced by an amount in
proportion to the percentage of the Sponsor

 
Group’s responsibilities for such Losses as determined by a court of competent jurisdiction in a final and non-appealable decision or in a binding
settlement between the Parties. 
 11.3 An indemnitee entitled to indemnification under Section 11 (“Indemnified Party”) shall give
written notice to the other Party (“Indemnifying Party”) of a claim or other circumstances likely to give rise to a request for indemnification, promptly after the Indemnified Party becomes aware of the same. The Indemnifying Party
shall be afforded the opportunity to undertake the defense of, and, subject to Section 11.5, to settle by compromise, or otherwise, any claim for which indemnification is available under this Section. 

11.4 If the Indemnifying Party assumes the defense of any claim, the Indemnified Party may participate in such defense with legal counsel of its selection and
at its expense. If the Indemnifying Party fails to promptly assume the defense of a claim by the Indemnified Party under this Section 11, the Indemnified Party may thereupon undertake the defense on behalf of, at the risk and expense of the
Indemnifying Party with all reasonable costs and expenses of such defense to be paid by the Indemnifying Party. 
 11.5 In the event that the Indemnified
Party assumes the defense of any claim, no compromise or settlement of any such claim shall be made without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed. 

 

	12	 INSURANCE 

12.1 Labcorp shall secure and maintain in full force and effect through the performance of the Services the necessary insurance coverage in amounts appropriate
to the conduct of Labcorp’s business. Certificates evidencing such insurance will be made available for examination upon written request by Sponsor. 

12.2 Sponsor hereby represents and warrants that it maintains or shall maintain adequate clinical trial and product liability insurance coverage consistent
with industry standards and in compliance with all applicable laws, rules and regulations. Certificates evidencing such insurance will be made available for examination upon written request by Labcorp. 

 

	13	 HUMAN BIOLOGICAL SAMPLES 

13.1 Where the Sponsor supplies HBS to Labcorp, the Sponsor represents and warrants that: 

(a) all HBS supplied under this Agreement are or have been procured and supplied to Labcorp ethically in full compliance with any and all applicable national
laws, regulations, or codes of practice relating to the Use of HBS providing protection for human subjects in the country of origin; 
 (b) the HBS Donor
has given Informed Consent; 
 (c) all HBS will be supplied to Labcorp without any information or data that identifies the HBS Donor; and 

(d) all HBS supplied to Labcorp: (i) may be Used for the Services; (ii) may be used to provide data in support of commercial product development;
and (iii) were procured without inappropriate financial benefit to the HBS Donor. 
 13.2 The Sponsor shall: (a) upon request, provide a copy of
the relevant Informed Consent template; (b) upon request, provide adequate evidence that the HBS provided to Labcorp has completed the necessary submissions, approvals and

 

  
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registrations required to be made to any applicable Regulatory Authority and (c) ensure any HBS shall be de-identified or ‘coded’ according
to applicable Regulatory Requirements to protect the identity and confidentiality of the HBS Donor. Full date of birth of the HBS Donor shall only be collected if medically relevant to the Services (unless legally restricted in the country of
operation). In the event of a withdrawal of, or a material variation to the Informed Consent that is likely to affect the Services provided by Labcorp, the Sponsor shall promptly notify all relevant Labcorp entities of such changes. 

13.3 Upon Sponsor’s request, Labcorp shall retain, return or destroy all HBS in accordance with the Informed Consent, the Sponsor’s instructions or
any other specific requirements under applicable national law. 
 13.4 The Sponsor acknowledges that where Labcorp enters into a material transfer agreement
(“MTA”) with the provider of any HBS, Labcorp shall act in accordance with the terms of the MTA and the disposition of the relevant HBS shall be as prescribed in the MTA. In the event of a conflict between the terms of the MTA, this
Agreement and any instructions provided by the Sponsor with regard to handling HBS, the terms of the MTA shall prevail. 
  

	14	 DATA PROTECTION 

14.1 Where Labcorp processes any personal data on behalf of the Sponsor, Labcorp shall process such personal data in accordance with all applicable Data
Protection Laws in the territories in which the Services are performed (“Protected Data”). 
 14.2 If Labcorp processes any Protected Data
of Data Subject(s) who are in the European Union (“EU”) on behalf of the Sponsor, Labcorp and the Sponsor each agree and acknowledge that the Sponsor shall be the data controller and Labcorp shall be the data processor, as defined
by the General Data Protection Regulation (Regulation (EU) 2016/679) (“GDPR”), with respect to the processing of such Protected Data. Labcorp shall only process such Protected Data on behalf and upon the reasonable instructions of
the Sponsor for purposes notified to it by the Sponsor under this Agreement, including the Data Processing Agreement annexed to it as Appendix A. 
  

	15	 SUBCONTRACTORS 

15.1 Notwithstanding Section 18, certain tasks, as may be agreed during the development of and specified in the Protocol, may be subcontracted by Labcorp
to Subcontractors approved by Labcorp or subcontracted, or assigned and transferred to its Affiliates. Labcorp shall be responsible for the performance of Subcontractors and Affiliates. 

15.2 Labcorp shall not be responsible for the performance of third-party Vendors. Liability of Labcorp to the Sponsor with respect to such Vendors shall be
limited to the extent Labcorp is negligent in the performance of its obligations under this Agreement. Labcorp shall provide to the Sponsor any amounts that Labcorp may recover from such Vendors as a result of any error or service failure on the
part of the Vendors in connection with this Agreement. 
  

	16	 FORCE MAJEURE 

16.1 Neither Party shall be in breach of this Agreement nor liable for delay in performing, or failure to perform, any of its obligations under this Agreement,
if such delay or failure result from a Force Majeure Event. In such circumstances, any

 
time specified for completion of performance in the Protocol falling due during or subsequent to the occurrence of a Force Majeure Event shall be automatically extended for a period of time equal
to such event. 
 16.2 Should any part of the Services be rendered invalid as a result of a Force Majeure Event, Labcorp shall, upon written request from
the Sponsor, and at the Sponsor’s sole cost and expense, repeat the affected part of the Services, or if Labcorp is unable to re-perform, Sponsor will not be obligated to pay for the affected Services.

  

	17	 INDEPENDENT CONTRACTOR 

Labcorp and/or its Affiliates shall perform their duties as an independent contractor and shall have complete and exclusive control over its employees and
agents. Labcorp will have no authority to bind or commit the Sponsor in any manner whatsoever and will not, at any time, hold itself out to third parties as having authority to enter into or incur any commitments, expenses, liabilities or
obligations or any nature on behalf of the Sponsor, except pursuant to this Agreement. 
  

	18	 ASSIGNMENT 

18.1 Labcorp may subcontract any or all of its obligations under this Agreement to its Affiliates as indicated in the Budget. 

18.2 Notwithstanding Section 18.1 and except in connection with an internal reorganization of the relevant Party’s corporate structure, this
Agreement shall not be assigned in whole or in part by either Party without the prior written consent of the other, which consent shall not be unreasonably withheld or delayed. 

 

	19	 NOTICES 

19.1 All notices required to be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered personally or mailed
first class, registered or certified mail, return receipt requested, postage paid: 
 If to Sponsor to: 

ProKidney 
 8020 Arco
Corporate Drive, Ste 118 
 Raleigh, NC 27617 

Attention: Ashley Johns, VP, Clinical Operations 

If to Labcorp to: 
 Labcorp
Central Laboratory Services LP 
 8211 SciCor Drive 

Indianapolis, Indiana 46214-2985 

UNITED STATES 
 Attention: VP,
Finance 
 or at such other place as either Party shall hereafter furnish to the other Party in writing. Notices shall be deemed given on the date of
personal delivery or deposit in the mail as specified above. 
 19.2 For the purposes of this Section 19, in relation to the purposes of any legal
proceeding, “writing” shall not include email. 
  

	20	 WAIVER 

No waiver of any term, provision, or condition of this Agreement whether by conduct or otherwise in any one or more instances shall be deemed to be or
construed as a further or continuing waiver or estoppel of any such term, provision, or condition or of any other term, provision, or condition of this Agreement.

 

  
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	21	 VARIATION 

No provision of this Agreement may be amended, modified, varied, discharged, or terminated except by the express written agreement of both Parties and signed
by an authorized representative of each Party. 
  

	22	 SEVERABILITY 

If any court or competent authority finds that any provision of this Agreement (or part of any provision) is invalid, illegal or unenforceable, that provision
or part-provision shall, to the extent required, be deemed to be deleted, and the validity and enforceability of the other provisions of this Agreement shall not be affected. If any invalid, unenforceable or illegal provision of this Agreement would
be valid, enforceable and legal if some part of it were deleted, the provision shall apply with the minimum modification necessary to make it legal, valid and enforceable. 
  

	23	 PUBLICITY AND PUBLICATION 

23.1 Neither Party will use the name, trademark or the name of any representative of the other, or the existence of this Agreement for any promotional or
advertising purposes, or any other publication, without the prior written consent of the other. 
 23.2 Neither Party will state or imply that the other
Party endorses or approves any service, material, product or compound of the other Party without the prior written consent of the other. Such restrictions shall not apply to internal communications and publications to a Party’s Affiliates. 

23.3 Sponsor shall provide Labcorp with a pre-publication copy of any report, manuscript, publication or form of
marketing material recognizing Labcorp’s participation in the Services or otherwise identifying Labcorp, for approval (which approval shall not be unreasonably withheld or delayed) in each case at least thirty (30) days before its
submission for publication. 
  

	24	 ENTIRE AGREEMENT 

This Agreement represents the entire understanding between the Parties with respect to the subject matter hereof as of the Effective Date, and this Agreement
supersedes all prior agreements, negotiations, understandings, representations, statements and writings between the Parties relating thereto, except that any written agreement entered into prior to the Effective Date with respect to a Study in
process prior to the Effective Date shall remain effective and shall continue to govern such existing Study. The Parties agree that neither has relied upon prior representations made before executing this Agreement. 

 

	25	 LEGAL TESTIMONY 

If Labcorp is obliged to provide testimony or records regarding the Services for the Sponsor in any legal or administrative proceeding, then the Sponsor shall
reimburse Labcorp for its out of pocket costs plus a reasonable hourly fee for the involvement of its employees or representatives in such proceedings. 
  

	26	 THIRD PARTY RIGHTS 

Except as expressly set forth in this Agreement in respect of Labcorp Affiliates, nothing in this Agreement is intended to confer any rights, benefits or
remedies of any kind whatsoever, and a person who is not a party to this Agreement shall have no right to enforce any of its terms.

	27	 ANTI-BRIBERY 

27.1 Both Parties agree that each has not and will not, either directly or indirectly, engage in bribery, or offer, or promise, or authorize to pay or make any
improper payment of any monies or financial or other advantage, including cash, loan, gift, travel, entertainment, hospitality, facilitation payment, kickback, political or philanthropic contribution, anything of value, or any other perceived
benefit to improperly obtain or retain a business advantage in violation of any Anti-Corruption Laws and further, each Party agrees that they shall not take any action that would cause the other Party to be in violation of such Anti-Corruption
Laws.
 27.2 Any breach of Section 27.1 by a Party shall allow the other Party to immediately terminate this Agreement. 

 

	28	 TRADE CONTROL 

28.1 Notwithstanding any other provision of this Agreement to the contrary, each Party shall comply with, and retain responsibility for its compliance with,
all applicable export control laws (e.g., the U.S. Export Administration Regulations) and economic sanctions programs (e.g., economic sanctions maintained by the U.S. Treasury Department, as well as Specially Designated Nationals and Blocked Persons
(“SDNs”)) relating to its respective business, facilities, and the provision of services to third parties (collectively, “Trade Control Laws”). 

28.2 It shall be in the sole discretion of Labcorp to refrain from being directly or indirectly involved in the provision of goods, software, services and/or
technical data that may be prohibited by applicable Trade Control Laws, including sanctions currently in place against Cuba, Iran, North Korea, Sudan, Syria and SDNs. 
  

	29	 COUNTERPARTS 

This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall constitute an original to this Agreement but all
of which together shall constitute the same Agreement. Signatures upon this Agreement transmitted by facsimile, electronic mail or other electronic method shall have the same legal and biding effect as wet signatures. 

 

	30	 CHOICE OF LAW AND JURISDICTION 

30.1 This Agreement will be governed by the laws of Delaware excluding its conflict of law provisions. The application of the United Nations Convention on
Contracts for the International Sale of Goods is expressly excluded from this Agreement. The Parties irrevocably agree that any dispute or claim arising out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims) shall be governed by the exclusive jurisdiction of the courts of the state of Delaware. 

30.2 The Parties agree that any dispute arising from or in connection with this Agreement (including any
non-contractual obligations) shall be referred to and finally resolved by arbitration under the Rules of the New York which Rules shall be deemed incorporated by reference to the Agreement. The number of
arbitrators shall be three (3), the seat or legal place of arbitration shall be New York and the language used in the arbitration shall be English.

 

  
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 IN WITNESS WHEREOF, the Parties by their duly authorized officers have executed this Agreement on the dates
set forth below, to be effective on the Effective Date set forth on the first page of this Agreement. 
  

					
			
	PROKIDNEY	 		 	LABCORP CENTRAL LABORATORY SERVICES LP
			
	Signature: /s/ Pablo Legorreta	 		 	Signature: /s/ Kristine Needle
			
	Name: Pablo Legorreta	 		 	Name: Kristine Needle
			
	Date: September 15, 2021	 		 	Date: September 16, 2021
			
		 		 	LABCORP CENTRAL LABORATORY SERVICES SÀRL
			
		 		 	Signature: /s/ Kristine Needle
			
		 		 	Name: Kristine Needle
			
		 		 	Date: September 16, 2021

  
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SEPARATION AGREEMENT AND RELEASE OF CLAIMS 

This Separation Agreement and Release of Claims (the “Agreement”) is entered into by and among Scott Dalgleish (“Executive”), The Oncology Institute, Inc. (“Parent”), and TOI Management, LLC (“TOI” and together with Parent, and their affiliates, the “Company”), effective as of the Effective Date (as defined below).

RECITALS 

WHEREAS, Executive is a party to that certain Employment Agreement dated November 16, 2020, with the Company (the “Employment Agreement”); 

WHEREAS, Executive’s service as Chief Financial Officer ceased effective April 4, 2022, and his employment with the Company will terminate effective as of April 29, 2022 (the “Separation Date”); and 

WHEREAS, Executive acknowledges that, unless he executes and does not revoke this Agreement, he will not be eligible for the Separation Benefits (as defined below). 

NOW THEREFORE, in consideration of, and subject to, the Separation Benefits payable to Executive described in Section 3 below, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he would not otherwise be entitled to receive, Executive and the Company hereby agree as follows: 
 
AGREEMENT 
1.Effective Date.  This Agreement shall not become effective unless both of the following events have occurred: (a) execution of this Agreement by Executive, which shall not occur prior to the Separation Date, and (b) expiration of the revocation period applicable under Section 4(d) below without Executive having given notice of revocation.  The date on which this Agreement becomes effective shall be referred to in this Agreement as the “Effective Date.”  Unless the Effective Date occurs on or before May 6, 2022, this Agreement shall be null and void.  The parties agree that any material or immaterial changes to this Agreement shall not extend the deadline for the occurrence of the Effective Date. 
2.Termination of Employment. 
(a)Executive acknowledges that, effective as of April 4, 2022, Executive ceased serving as Chief Financial Officer of the Company.  From April 4, 2022 through the Separation Date, Executive served in a non-executive employee role to assist in the transition of his role to the Company’s new Chief Financial Officer. The Separation Date will be the termination date of Executive’s employment with the Company and any of its affiliates for all purposes, including active participation in and coverage under all benefit plans and programs sponsored by or through the Company and its affiliates, except as provided in this Agreement.  Executive hereby confirms his termination from all positions he holds with the Company and any of its affiliates, effective as of the Separation Date.  In accordance with applicable law, on the Separation Date, the Company will issue to Executive his final paycheck, reflecting his earned but unpaid base salary and accrued, unused vacation or paid time off through the Separation Date.   
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(b)The Company will reimburse Executive for any and all reasonable and necessary business expenses incurred by Executive in connection with the performance of his job duties prior to the Separation Date in accordance with the Company’s policies, which expenses shall be submitted to the Company with supporting receipts and/or documentation no later than thirty (30) days after the Separation Date. 
(c)Subject to Section 3(c) below, Executive’s entitlement to health benefits from the Company, and eligibility to participate in the Company’s health benefit plans, shall cease on the last day of the calendar month during which the Separation Date occurs, except to the extent Executive elects to and is eligible to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), for himself and any covered dependents. Executive’s entitlement to other benefits from the Company, and eligibility to participate in the Company’s other benefit plans and programs, shall cease on the Separation Date. 
(d)Executive holds stock options (the “Stock Options”) to purchase shares of the Company’s common stock issued to Executive by the Company pursuant to certain stock option agreements (the “Stock Option Agreements”).  Executive also holds restricted stock units (the “RSUs”) issued to Executive by the Company pursuant to a RSU agreement (the “RSU Agreement”).  Executive also holds   restricted earn-out shares issued pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as June 28, 2021, to which the Company was a party, which earn-out shares are unvested and subject to forfeiture as of the Separation Date (the “Earn-out Shares”). As of the Separation Date, (i) all of Executive’s unvested Stock Options, (ii) all of Executive’s RSUs and (ii) all of Executive’s Earn-out Shares shall terminate.  Executive’s vested Stock Options shall be governed by the terms and conditions of the Stock Option Agreements and the equity plan under which such Stock Options were granted. 
 
3.Termination Benefits.  In consideration for Executive’s agreement to be bound by the terms of this Agreement, including but not limited to the release of claims in Section 4, but subject to Executive’s compliance with Section 5, including Section 5(d) regarding the return of Company property, the Company agrees to provide Executive with the following termination benefits (the “Separation Benefits”): 
(a)Executive shall be entitled to an amount equal to three (3) months’ base salary ($93,750), to be paid to Executive in accordance with the Company’s payroll policy, beginning on the payroll date which next occurs after the sixty first (61st) day following the Separation Date; provided, that any payments due from the Separation Date to the sixty first (61st) day following the Separation Date shall be paid on the first payroll date of the Company following such period;  
(b)Provided the Separation Date occurs on April 29, 2022, and Executive does not voluntarily resign his employment prior to such date, and further provided that Executive provides the transitional support contemplated by Section 2(a) above, Executive shall be entitled to receive $47,750.00, representing Executive’s annual bonus for 2021, which Executive acknowledges he would not otherwise be eligible to receive absent this Agreement; and  
(c)During the period commencing on the Separation Date and ending on the three 3month anniversary thereof or, if earlier, the date on which Executive becomes eligible for comparable replacement coverage under a subsequent employer’s group health plan, subject to Executive’s valid 
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election to continue healthcare coverage under COBRA, the Company shall, in its sole discretion, either (i) continue to provide to Executive and Executive’s dependents, at the Company’s sole expense, or (ii) reimburse Executive and Executive’s dependents for the cost of, in either case, coverage under its group health plan (if any) at the same coverage levels in effect on the Separation Date (“Benefits Coverage”); provided, however, that if (A) any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the continuation coverage period to be, exempt from the application of Section 409A under Treasury Regulation Section 1.409A-1(a)(5), (B) the Company is otherwise unable to continue to cover Executive or Executive’s dependents under its group health plans or (C) the Company cannot provide the benefit without violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then, in any such case, the cash amount necessary to maintain the Benefits Coverage shall thereafter be paid to Executive in substantially equal taxable monthly installments over the COBRA continuation period (or remaining portion thereof); and  
 
The Separation Benefits shall be the exclusive severance benefits to which Executive is entitled, unless Executive has breached the provisions of this Agreement, in which case Section 5(e) shall apply. Executive understands that Executive will not be entitled to the Separation Benefits under this Agreement if the Effective Date does not occur on or before May 6, 2022, or in the event Executive breaches the terms of this Agreement.  Executive acknowledges that, other than the compensation set forth in Section 2 above paid to him as provided therein and the Separation Benefits set forth in this Section 3, he has or will have received all wages, accrued but unused vacation or paid time off, and other benefits due him as a result of his employment or service with and termination from the Company. Executive shall not be required to mitigate the amount of any payment provided for under this Agreement by seeking other employment or in any other manner. 
 
4.Release. 
(a)In exchange for the Separation Benefits set forth in Section 3 above, and in consideration of the further agreements and promises set forth herein, Executive, on behalf of himself and his executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company, Parent, TOI and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his employment with or service to the Company (collectively, the “Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), which Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et 
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US-DOCS\130836876.4 

seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq.  Executive represents and warrants that he is the sole owner of all Claims relating to his employment or service with the Company and/or with any predecessor of the Company and that he has not assigned or transferred any Claims relating to his employment or service to any other person or entity.  Executive understands and agrees that the Agreement will not be construed at any time as an admission of liability or wrongdoing by either the Company or Executive. 
 
Notwithstanding the generality of the foregoing, Executive does not release any Claims which, by law, may not be released, including the following claims: 
 
(i)Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law;        
(ii)Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of the Company;   
(iii)Claims pursuant to the terms and conditions of the federal law known as COBRA;  
(iv)Claims for indemnity under the bylaws of the Company, as provided for by Delaware law or any written indemnification agreement with the Company, or under any applicable insurance policy with respect to Executive’s liability as an employee or officer of the Company;  
(v)Executive’s right to bring to the attention of the Equal Employment Opportunity Commission, the California Department of Fair Employment and Housing or any other federal, state or local government agency claims of discrimination, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Executive does release his right to secure any damages for alleged discriminatory treatment; 
(vi)Claims based on any right Executive may have to enforce the Company’s executory obligations under the Agreement;  
(vii)Claims Executive may have to vested or earned compensation and benefits; and 
(viii)Executive’s right to communicate or cooperate with any government agency. 
      
(b)EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS: 

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“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” 

BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.  
(c)Executive acknowledges that Executive is entitled to have twenty-one (21) days’ time in which to consider this Release.  Executive further acknowledges that the Company has advised him that he is waiving his rights under the ADEA, and that Executive should consult with an attorney of his choice before signing this Agreement, and Executive has had sufficient time to consider the terms of this Agreement.  Executive represents and acknowledges that if Executive executes this Agreement before twenty-one (21) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the approval of Executive’s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.   
 
(d)Executive understands that after executing this Agreement, Executive has the right to revoke it within seven (7) days after his execution of it.  Executive understands that this Agreement will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Agreement in writing.  Executive understands that this Agreement may not be revoked after the seven (7) day revocation period has passed.  Executive also understands that any revocation of this Agreement must be made in writing and delivered to the Company at its principal place of business within the seven (7) day period. 
 
(e)Executive understands that this Agreement shall become effective, irrevocable, and binding upon Executive on the eighth (8th) day after his execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (d) above.   
 
(f)Executive shall not execute this Agreement prior to the Separation Date.  Executive further understands that Executive will not be given any Separation Benefits under this Agreement unless this Agreement is effective on or before May 6, 2022. 
 
5.Restrictive Covenants.   
 
(a)Executive hereby expressly hereby expressly reaffirms his obligations under Section 4  of the Employment Agreement, a copy of which is attached to this Release as Exhibit A and incorporated herein by reference, and agrees that such obligations shall survive the Termination Date and any termination of his services to the Company.   
 
(b)By signing below, Executive represents and warrants that he has returned to the Company all Company documents (and all copies thereof) and other Company property that Executive had in his possession at any time, including but not limited to Company files, notes, drawings, records, business plans and forecasts, financial information, specification, computer-recorded information, tangible property (including, but not limited to, computers, laptops, pagers, etc.), credit cards, entry cards, 
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US-DOCS\130836876.4 

identification badges and keys and any materials of any kind which contain or embody any proprietary or confidential information of Company (and all reproductions thereof).  Executive understands that, even if Executive does not sign this Agreement, he is still bound by any and all confidential/proprietary/trade secret information, non-disclosure and inventions assignment agreement(s) signed by Executive in connection with his employment with Company, including the PR, pursuant to the terms of such agreement(s). Executive’s compliance with this Section 5(d) shall be a condition to his receipt of the Separation Benefits.  (c) In addition to all other rights and remedies available to the Company under law or in equity, the Company shall be entitled to withhold all Separation Benefits from Executive in the event of his breach of this Section 5 or Section 4 of the Employment Agreement. 

(c)Nothing herein shall be construed to prohibit Executive from communicating directly with, cooperating with, or providing information to, any government regulator, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. Executive acknowledges that the Company has provided Executive with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (i) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (ii) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal, and (iii) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the proprietary information to Executive’s attorney and use the proprietary information in the court proceeding, if Executive files any document containing the proprietary information under seal, and does not disclose the proprietary information, except pursuant to court order.

(d)For purposes of this Section 5, the term “Company” means not only the Company, but also as any company, partnership or entity which, directly or indirectly, controls, is controlled by or is under common control with such entities. 
 
6.Cooperation.  As a condition of his receipt of the Separation Benefits, Executive agrees that, upon reasonable notice and without the necessity of Company obtaining a subpoena or court order, he will provide reasonable cooperation to Company in connection with any suit, action or proceeding (or any appeal from any suit, action or proceeding), or the decision to commence on behalf of the Company any suit, action or proceeding, any investigation and/or any defense of any claims asserted against the Company or any of the Company’s current or former directors, officers, employees, partners, stockholders, agents or representatives of any of the foregoing, and any ongoing or future investigation or dispute or claim of any kind involving the Company that relates to events occurring during his employment as to which he may have relevant information and any other matter for which he was responsible or had knowledge of through the Separation Date.  Such cooperation may include, but will not be limited to, providing background information within Executive’s knowledge; aiding in the drafting of declarations; executing declarations or similar documents; testifying or otherwise appearing at investigation interviews, depositions, arbitrations or court hearings; and preparing for the above-described or similar activities.  Upon the reasonable request of Company, Executive agrees to cooperate with the transition of his job responsibilities following the Separation Date and cooperate in providing information on matters on which he was involved while an employee. 
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7.Section 409A; Section 280G. 
 
(a)To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and Department of Treasury regulations and other interpretive guidance issued thereunder. The intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from Section 409A of the Code and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance with such intention. To the extent that any provision in this Agreement is ambiguous as to its compliance with or exemption from Section 409A of the Code, the provision shall be read in such a manner that no payments payable under this Agreement shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code.  For purposes of Section 409A of the Code, any right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. The parties acknowledge that the Separation Date will constitute the date of Executive’s “separation from service” (as defined in Treasury Regulation Section 1.409A-1(h)) (“Separation from Service”).  
 
(b)Any reimbursement of expenses or in-kind benefits payable under this Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Executive’s taxable year following the taxable year in which Executive incurred the expenses. The amount of expenses reimbursed or in-kind benefits payable in one year shall not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of Executive’s, and Executive’s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit. 
 
(c)Notwithstanding anything in this Agreement to the contrary, if Executive is deemed by the Company at the time of Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of Executive’s Separation from Service with the Company or (ii) the date of Executive’s death. Upon the first business day following the expiration of the applicable Section 409A period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to Executive (or Executive’s estate or beneficiaries), and any remaining payments due to Executive under this Agreement shall be paid as otherwise provided herein. 
 
(d)Section 25 of the Employment Agreement is hereby incorporated herein by reference and shall continue to apply following the Separation Date as if fully set forth herein. 
 
8.Dispute Resolution.  Unless otherwise prohibited by law or specified below, all disputes, claims and causes of action, in law or equity, arising from or relating to this Agreement or its enforcement, performance, breach, or interpretation, Executive’s employment relationship with the Company, or the termination of Executive’s employment with the Company, shall be resolved solely and exclusively by final and binding arbitration held in Los Angeles, California, before a single, mutually-agreed neutral arbitrator, through JAMS under the then existing JAMS arbitration rules. The rules may be found online at www.jamsadr.com or upon written request to the Company.  This Section 8 is intended to be the exclusive method for resolving any and all claims by the parties against each other relating to 
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Executive’s employment or the termination thereof; provided that Executive will retain the right to file administrative charges with or seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but not limited to (a) claims for workers’ compensation, state disability insurance or unemployment insurance; (b) claims for unpaid wages or waiting time penalties brought before the California Division of Labor Standards Enforcement (provided that any appeal from an award or from denial of an award of wages and/or waiting time penalties shall be arbitrated pursuant to the terms of this Section 8); and (c) claims for administrative relief from the United States Equal Employment Opportunity Commission and/or the California Department of Fair Employment and Housing (or any similar agency in any applicable jurisdiction other than California); provided, further, that, except as otherwise provided by law, Executive will not be entitled to obtain any monetary relief through such agencies other than workers’ compensation benefits or unemployment insurance benefits. Further, nothing in this Section 8 is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration, including without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure §1281.8 or any similar statute of an applicable jurisdiction.  Seeking any such relief shall not be deemed to be a waiver of such party’s right to compel arbitration.  In resolving any matter submitted to arbitration, the arbitrator will strictly follow the substantive law applicable to the dispute, claim or controversy and the arbitrator’s authority and jurisdiction will be limited to determining the dispute in conformity with applicable law as to liability, damages and remedies, to the same extent as if the dispute was determined by a court without a jury.  The arbitrator will issue a written decision that contains the essential findings of fact and conclusions of law on which the decision is based, which may be entered as a judgment in any court of competent jurisdiction.  The Company shall pay all costs of arbitration, including without limitation, arbitration administrative fees, arbitrator compensation and expenses, and costs of any witnesses called by the arbitrator.  Unless otherwise ordered by the arbitrator under applicable law, the Company and Executive shall each bear its or his own expenses, such as attorneys’ fees, costs and disbursements.  The prevailing party in any arbitration or other dispute between the parties will be entitled to an award of attorneys’ fees and costs, in addition to any other relief.  Each party warrants that it has had the opportunity to be represented by counsel in the negotiation and execution of this Agreement, including the attorneys’ fees provision herein.  Both Executive and the Company expressly waive their right to a jury trial. Executive further waives his right to pursue claims against the Company on a class basis; provided, however, that Executive does not waive his right, to the extent preserved by law, to pursue representative claims against the Company under the California Private Attorney General Act. 
 
9.Notices.  All notices or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given when delivered personally or one (1) business day after being sent by a nationally recognized overnight delivery service, charges prepaid. Notices also may be given electronically via PDF and shall be effective on the date transmitted if confirmed within forty-eight (48) hours thereafter by a signed original sent in the manner provided in the preceding sentence.  Notice to Executive shall be sent to his most recent residence and personal email address on file with the Company.  Notice to the Company shall be sent to its physical address set forth on the first page hereto and addressed to the Chief Executive Officer at the email address provided by the Company for such person. 
 
10.Entire Agreement.  This Agreement and Sections 4 and 25 of the Employment Agreement  constitute the entire agreement and understanding between the parties as to the subject matter 
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herein and supersede all prior or contemporaneous agreements whether written or oral, including, without limitation, the Employment Agreement.  Except as provided in Section 5 hereof with respect to Section 4 of the Employment Agreement or Section 7 hereof with respect to Section 25 of the Employment Agreement, the Employment Agreement shall be superseded entirely by this Agreement.  The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision hereof, which will remain in full force and effect.  The terms in this Agreement may only be modified in writing and signed by Executive and an authorized officer of the Company.  In the event of any conflict between any of the terms in this Agreement and the terms of any other agreement between Executive and the Company, the terms of this Agreement will control.   
 
11.Severability.  Should any provision of the Agreement be determined by an arbitrator, court of competent jurisdiction or government agency to be wholly or partially invalid or unenforceable, the legality, validity and enforceability of the remaining parts, terms or provisions are intended to remain in full force and effect. Specifically, should a court, arbitrator or agency conclude that a particular claim may not be released as a matter of law, it is the intention of the parties that the general release and the waiver of unknown claims above will otherwise remain effective to release any and all other claims.  Executive acknowledges that he has obtained sufficient information to intelligently exercise his own judgment regarding the terms of the Agreement before executing the Agreement. 
 
12.Governing Law; Venue.  This Agreement will be governed by and construed in accordance with the laws of the United States of America and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof. Any suit brought hereon shall be brought in the state or federal courts sitting in Los Angeles County, California, the parties hereby waiving any claim or defense that such forum is not convenient or proper. Each party hereby agrees that any such court shall have personal jurisdiction over it and consents to service of process in any manner authorized by California law. 
 
13.Non-transferability of Interest. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Executive. Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void. 
 
14.Construction.  The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof.  Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders and the singular shall include the plural, and vice versa, and the word “person” shall include any corporation, firm, partnership or other form of association. 
 
15.Withholding and Other Deductions. All compensation payable to Executive hereunder shall be subject to such deductions as the Company is from time to time required to make pursuant to law, governmental regulation or order.  
 
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16.Knowing and Voluntary.  Executive represents and agrees that, prior to signing this Agreement, Executive has had the opportunity to discuss the terms of this Agreement with legal counsel of his choosing.  Executive further represents and agrees that he is entering into this Agreement knowingly and voluntarily. Executive affirms that no promise was made to cause him to enter into this Agreement, other than what is promised in this Agreement. Executive further confirms that he has not relied upon any other statement or representation by anyone other than what is in this Agreement as a basis for his agreement. Executive acknowledges and agrees that neither the Company nor the Company’s counsel has provided any legal or tax advice to Executive and that Executive is free to, and is hereby advised to, consult with a legal or tax advisor of his choosing. 

17.Survival.  The covenants, agreements, representations and warranties contained in or made in this Agreement shall survive the Separation Date and any termination of this Agreement. 
 
18.Counterparts.  This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes. 
 
[Signature Page Follows] 
 
      

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IN WITNESS WHEREOF, the Executive and the Company have executed this Employment Agreement as of the day and year first above written.

						
	COMPANY:

		
	TOI MANAGEMENT, LLC, a Delaware limited liability company

		
		
	By:
	/s/  Brad Hively
	Name:
	Brad Hively
	Title:
	Chief Executive Officer
		
		
	EXECUTIVE:

		
	By:
	/s/  Scott Dalgleish
	Name:
	Scott Dalgleish

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US-DOCS\130836876.4

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