Document:

Exhibit 10.8

 

LIV Capital Acquisition Corp.

 

c/o Torre Virreyes, Pedregal No. 24,
Piso 6-601
 Col. Molino del Rey México, CDMX, C.P. 11040
 
 

 

[●], 2019

 

Ladies and Gentlemen:

 

This letter will confirm our agreement that, commencing on the
effective date (the “Effective Date”) of the registration statement (the “Registration Statement”)
for the initial public offering (the “IPO”) of the securities of LIV Capital Acquisition Corp. (the “Company”)
and continuing until the earlier of (i) the consummation by the Company of an initial business combination and (ii) the Company’s
liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination
Date”), LIV Capital Acquisition Sponsor, L.P. shall make available to the Company certain office space and administrative
and support services as may be required by the Company from time to time, at [●]. In exchange therefore, the Company shall
pay LIV Capital Acquisition Sponsor, L.P. $10,000 per month on the Effective Date and continuing monthly thereafter until the Termination
Date.

 

LIV Capital Acquisition Sponsor, L.P. hereby agrees that it
does not have any right, title, interest or claim of any kind in or to any monies that may be set aside in a trust account (the
“Trust Account”) that may be established upon the consummation of the IPO and will not seek recourse
against the Trust Account for any reason whatsoever.

 

This agreement may not be amended, modified or waived as to
any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may assign this agreement or any rights, interests
or contracted obligations hereunder without the prior written approval of the other party. Any purported assignment in violation
of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported
assignee.

 

This agreement shall be governed by, construed in accordance
with, and interpreted pursuant to the laws of the State of New York, without giving effect to its choice of law principles.

 

 

	 	Very truly yours,
	 	 
	 	LIV Capital Acquisition Corp.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

 

    

     

    

AGREED TO AND ACCEPTED BY:

 

	LIV Capital Acquisition Sponsor, L.P.	 
	 	 
	 	 
	 	Acting by LIV GP Master, S.A.P.I. de C.V., its General Partner
	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

 

 

 

 

 

[Signature page to Administrative Services
Agreement]Exhibit
10.9

 

ASSIGNMENT
AND ASSUMPTION AGREEMENT 

 

THIS
ASSIGNMENT AGREEMENT (“Agreement”) is made and entered into as of November 6, 2019, by and among (i) LIVE Fund
I Partners L.P., an Ontario limited partnership (the “Assignor”); (ii) LIV Capital Acquisition Sponsor, L.P.,
a Cayman Islands exempted limited partnership (the “Assignee”); and (iii) LIV Capital Acquisition Corp.,
a Cayman Islands exempted company and blank check company (the “Maker”).

 

WHEREAS,
the Assignor is a party to a Promissory Note, dated October 3, 2019, with Maker as borrower (the “Promissory Note”);
and

 

WHEREAS,
the Assignor desires to assign, and the Assignee desires to assume, the Promissory Note.

 

NOW
THEREFORE, for good and valuable consideration, the parties hereto agree as follows:

 

1.       Assignment.
The Assignor hereby assigns to the Assignee all of the Assignor’s right, title and interest under the Promissory Note.

 

2.       Assumption.
The Assignee hereby accepts the assignment from the Assignor set forth in Paragraph ‎1 hereof and assumes all of the Assignor’s
right, title and interest under the Promissory Note.

 

3.       Consent.
Pursuant to Section 13 of the Promissory Note, Maker consents to the assignment provided for in this Agreement.

 

4.       Governing
Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO THE CONFLICTS OF LAW PRINCIPLES OF SUCH JURISDICTION.

 

5.       Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns.

 

6.       Severability.
If any provision of this Agreement shall be held invalid, illegal or unenforceable, the validity, legality or enforceability of
the other provisions of this Agreement shall not be affected thereby, and there shall be deemed substituted for the provision
at issue a valid, legal and enforceable provision as similar as possible to the provision at issue.

 

7.       Counterparts.
This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement
and all of which, when taken together, will be deemed to constitute one and the same agreement. The exchange by facsimile of executed
counterparts of this Agreement shall be deemed execution and delivery thereof.

 

[Signature
pages follow]

 

     

     

    

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date first written above.

 

	 	ASSIGNOR:

         

        LIVE Fund I Partners
        L.P.

        

        

         

	 	By:	/s/ Alexander Roger
    Rossi
	 	 	Name:Alexander Roger Rossi
	 	 	Title:Managing Partner

         

 

 

 

[Signature
Page to Assignment and Assumption Agreement] 

 

     

     

    

	 

                    

                    

                    

                    ASSIGNEE:

                     

         

        LIV Capital Acquisition
        Sponsor, L.P.

        

        Acting by its General
        Partner

        

        LIV GP Master, S.A.P.I.
        de C.V.

        

        

        

         

	By:	/s/ Miguel Ángel
    Dávila Guzmán
	 	Name:Miguel Ángel Dávila Guzmán
	 	Title: Managing Director

         

 

 

 

[Signature
Page to Assignment and Assumption Agreement] 

 

	 	 

     

     

    

	MAKER:

                     

         

        LIV Capital Acquisition
        Corp.

        

        

         

	By:	/s/ Humberto Zesati
    González
	 	Name: Humberto Zesati González
	 	Title: Director

         

 

 

 

[Signature
Page to Assignment and Assumption Agreement]Exhibit
10.10

 

SHARE
TRANSFER

 

LIVE
Fund I Partners L.P., an Ontario limited partnership, for value received, does hereby transfer to LIV Capital Acquisition Sponsor,
L.P., a Cayman Islands exempted limited partnership (the "Transferee"), the 1,725,000 Class B ordinary shares
standing in the Transferor’s name in the undertaking called LIV Capital Acquisition Corp. (an exempted company incorporated
in the Cayman Islands), to hold the same unto the Transferee.

 

 

Signed
by the Transferor

 

LIVE
Fund I Partners L.P.

 

By:
LIVE Fund I partners GP, LLC, its general partner

 

By:
Latin Idea Holdings, LLC, its sole member and manager

 

By:
/s/ Alexander Roger Rossi

 

Name:
Alexander Roger Rossi

 

Title:
Member

 

 

Date:
November 6, 2019Exhibit 10.1

    

     

    

    SECURITIES PURCHASE AGREEMENT

     

    THIS SECURITIES PURCHASE AGREEMENT (the “Agreement”) is made as of the 19th day of November, 2019, by and among
      BioCryst Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and 667, L.P., a Delaware limited partnership and Baker Brothers Life Sciences, L.P., a Delaware limited partnership (each a “Buyer” and collectively the “Buyers”). Each Buyer and the Company are sometimes each referred to herein as a “party” and collectively as the “parties.”

     

    W I T N E S S E T H:

     

    WHEREAS, subject to the terms and conditions set forth in this Agreement, the Company wishes to sell to Buyers, and Buyers wish to purchase from the Company,
      warrants, substantially in the form attached hereto as Exhibit A (the “Pre-Funded Warrants”), to purchase shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”) with an exercise price of $0.01 (such purchased shares, the “Warrant Shares”). The Pre-Funded Warrants and the Warrant Shares are collectively referred to herein as the “Securities.”

     

    WHEREAS, On November 13, 2019, the Company entered into an Underwriting Agreement with J.P. Morgan Securities LLC, as Representative of the several
      Underwriters therein, which Underwriting Agreement included a 60-day “clear market provision”, which if not waived by the Underwriters would have prohibited the Company from entering into this Agreement on the date hereof.  As a condition to the
      Underwriters granting such waiver, Buyers agreed to enter into the seven-day lock-up contained herein.

     

    NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, and for other good
      and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:

     

    
      
        	1.	
                Purchase and Sale of Securities. Subject to the terms and conditions of this Agreement, on or before November 21, 2019 (the “Closing Date”), each Buyer
                  agrees to purchase and the Company agrees to sell and issue to such Buyer the number of Pre-Funded Warrants set forth on the Buyers’ signature page hereof, and each Buyer shall pay to the Company as the purchase price therefor via wire
                  transfer the amount set forth under such Buyer’s name on Buyers’ signature page hereof. The Warrant Shares, when issued and delivered upon exercise of the Pre-Funded Warrants in accordance therewith, shall be validly issued and fully paid
                  and non-assessable.

              

      

    

     

    

    
      
        	2.	
                Representations and Warranties of Buyers. Each Buyer represents and warrants as to itself to the Company that as of the date hereof and the Closing Date:

              

      

    

     

    

    
      
        	 	(a)	
                Organization and Qualification. Buyer is a Delaware limited partnership duly organized and validly existing in good standing under the laws of the jurisdiction in which it is organized, and has
                  the requisite organizational power and authority to own its properties and to carry on its business as now being conducted.

              

      

    

     

    

    
      
        	

              	(b)	
                Enforcement; Validity. This Agreement has been duly and validly authorized, executed and delivered on behalf of Buyer and is a valid and binding agreement of Buyer enforceable against Buyer in
                  accordance with its terms, subject as to enforceability to (i) general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the
                  enforcement of applicable creditors’ rights and remedies and (ii) public policy underlying any law, rule or regulation (including any federal or state securities law, rule or regulation) with regards to indemnification, contribution or
                  exculpation. The execution and delivery of this Agreement by Buyer and the consummation by it of the transaction contemplated hereby do not conflict with Buyer’s certificate of organization or operating agreement or similar documents, and
                  do not require further consent or authorization by Buyer, its managers or its members.

              

      

    

     

    
      
        

    

    
    
      
        	

              	(c)	
                Investment Purpose. Buyer is entering into this Agreement and acquiring the Securities for its own account for investment; provided, however, by making the representations herein, Buyer does not
                  agree to hold any of the Securities for any minimum or other specific term other than as set forth in Section 4(d) hereof.

              

      

    

     

    

    
      
        	

              	(d)	
                No Prior Short Selling. Buyer represents and warrants to the Company that at no time in the twelve months immediately preceding the date of this Agreement has any of Buyer, its agents,
                  representatives or affiliates engaged in or effected, in any manner whatsoever, directly or indirectly, any (i) “short sale” (as such term is defined in Section 242.200 of Regulation SHO of the Securities Act of 1934, as amended (the “Exchange Act”), of the Common Stock or (ii) hedging transaction, which in the case of (i) and (ii) establishes a net short position with respect to the Common Stock.

              

      

    

     

    
      
        	

              	(e)	
                Accredited Investor Status. Buyer is an “accredited investor” as that term is defined in Rule 501(a)(3) of Regulation D under the Securities Act of 1933, as amended, and the rules and regulations
                  of the Securities and Exchange Commission (the “SEC”) thereunder (collectively, the “Securities Act”).

              

      

    

     

    

    
      
        	

              	(f)	
                Information. Buyer has been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the Securities that have
                  been reasonably requested by Buyer, including, without limitation, the Company’s filings with the SEC. Buyer understands that its investment in the Securities involves a high degree of risk. Buyer (i) is able to bear the economic risk of
                  an investment in the Securities including a total loss, (ii) has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the proposed investment in the Securities and (iii)
                  has had an opportunity to ask questions of and receive answers from the officers of the Company concerning the financial condition and business of the Company and other matters related to an investment in the Securities. Neither such
                  inquiries nor any other due diligence investigations conducted by Buyer or its representatives shall modify, amend or affect Buyer’s right to rely on the Company’s representations and warranties contained in Section 3 below. Buyer
                  has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Securities.

              

      

    

     

    

    
      
        	

              	(g)	
                No Governmental Review. Buyer understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of
                  the Securities or the fairness or suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

              

      

    

     

    
      2

      
        

    

    
      
        	3.	
                Representations and Warranties of the Company. The Company represents and warrants to Buyers that as of the date hereof and the Closing Date:

              

      

    

     

    

    
      
        	

              	(a)	
                Organization and Qualification. The Company is a Delaware corporation duly organized and validly existing in good standing under the laws of the jurisdiction in which it is organized, and has the
                  requisite organizational power and authority to own its properties and to carry on its business as now being conducted.

              

      

    

     

    

    
      
        	

              	(b)	
                Enforcement; Validity. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement. This Agreement has been duly
                  and validly authorized, executed and delivered on behalf of the Company and is a valid and binding agreement of the Company enforceable against the Company in accordance with its terms, subject as to enforceability to (i) general
                  principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and (ii)
                  public policy underlying any law, rule or regulation (including any federal or state securities law, rule or regulation) with regards to indemnification, contribution or exculpation. The execution and delivery of this Agreement by the
                  Company and the consummation by it of the transaction contemplated hereby do not conflict with the Company’s certificate of organization or operating agreement or similar documents, and do not require further consent or authorization by
                  the Company.

              

      

    

     

    

    
      
        	

              	(c)	
                Authorization of the Securities. The Pre-Funded Warrants have been duly authorized by the Company and, when executed and delivered by the Company, will be valid and binding agreements of the
                  Company, enforceable against the Company in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and
                  remedies of creditors or by general equitable principles. The Warrant Shares have been duly authorized and validly reserved for issuance upon exercise of the Pre-Funded Warrants in a number sufficient to meet the current exercise
                  requirements. The Warrant Shares, when issued and delivered upon exercise of the Pre-Funded Warrants in accordance therewith, shall be (i) validly issued, fully paid and non-assessable and (ii) free from all taxes, liens and charges with
                  respect to the issuance thereof, with the holders being entitled to all rights accorded to a holder of Common Stock.

              

      

    

     

    

    
      
        	

              	(d)	
                No Conflicts.  The execution, delivery and performance by the Company of this Agreement and the Pre-Funded Warrants, the issuance and sale of the Securities and the consummation of the
                  transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination, modification or acceleration of, or
                  result in the creation or imposition of any lien, charge or encumbrance upon any property, right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or
                  instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any property, right or asset of the Company or any of its subsidiaries is subject, (ii) result
                  in any violation of the provisions of the charter or bylaws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of
                  any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that would not, individually or in the
                  aggregate, have a material adverse effect on the business, properties, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its subsidiaries taken as a whole or on the performance by
                  the Company of its obligations under this Agreement.

              

         

        

        
          3

          
            

        

      

    

    

    
      
        	

              	(e)	
                Registrable Securities. The Warrant Shares when issued will constitute “Registrable Securities” pursuant to that certain Registration Rights Agreement, dated as of March 15, 2017, by and between
                  the Company and the investors party thereto and shall not cease to be “Registrable Securities” on account of being delivered pursuant to a registration statement under the Securities Act.

              

      

    

     

    

    
      
        	

              	(f)	
                SEC Documents; Financial Statements. The Shelf Registration Statement (as defined herein) and the Prospectus Supplement (as defined herein), together with the documents incorporated by reference
                  in the Shelf Registration Statement and the Prospectus Supplement, when they were filed with the SEC, conformed in all material respects to the requirements of the Securities Act and the Exchange Act, and none of such documents contained
                  any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company has not, directly or
                  indirectly, offered or sold the Securities by means of any “prospectus” (within the meaning of the Securities Act) or used any “prospectus” (within the meaning of the Securities Act) in connection with the offer or sale of the Securities,
                  in each case other than the prospectus including the Shelf Registration Statement and the Prospectus Supplement. The financial statements (including the related notes thereto) of the Company and its consolidated subsidiaries included or
                  incorporated by reference in the Shelf Registration Statement and the Prospectus Supplement comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly the
                  financial position of the Company and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the periods specified; such financial statements have been prepared
                  in conformity with generally accepted accounting principles in the United States applied on a consistent basis throughout the periods covered thereby, and any supporting schedules included or incorporated by reference in the Shelf
                  Registration Statement present fairly the information required to be stated therein; and the other financial information included or incorporated by reference in the Shelf Registration Statement and the Prospectus Supplement has been
                  derived from the accounting records of the Company and its consolidated subsidiaries and presents fairly the information shown thereby.

              

      

    

     

    

    
      
        	

              	(g)	
                No Material Adverse Change. Since the date of the most recent financial statements of the Company included or incorporated by reference in the Shelf Registration Statement and the Prospectus
                  Supplement, (i) there has not been any change in the capital stock (other than the issuance of shares of Common Stock upon the exercise of stock options and vesting of restricted stock units described as outstanding in, and the grant of
                  options and awards under existing equity incentive plans described in, any public filings with the SEC prior to the date hereof), short-term debt or long-term debt of the Company or any of its subsidiaries, or any dividend or distribution
                  of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock, or any material adverse change, or any development that could reasonably be expected to result in a material adverse change, in or
                  affecting the business, properties, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its subsidiaries taken as a whole; (ii) neither the Company nor any of its subsidiaries has
                  entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is
                  material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its subsidiaries has sustained any loss or interference with its business that is material to the Company and its subsidiaries taken
                  as a whole and that is either from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or
                  regulatory authority, except in the case of each of clauses (i), (ii), and (iii) above as otherwise disclosed in the Company’s public filings with the SEC prior to the date hereof.

              

         

        

        
          4

          
            

        

      

    

    
      
        	

              	(h)	
                Acknowledgement Regarding Buyers’ Status. The Company acknowledges and agrees that each Buyer is acting solely in the capacity of arm’s length purchaser with respect to this Agreement and the
                  transaction contemplated hereby. The Company further acknowledges that neither Buyer is acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transaction contemplated
                  hereby and any advice given by Buyers or any of their representatives or agents in connection with this Agreement and the transaction contemplated hereby is merely incidental to Buyers’ purchase of the Securities. The Company further
                  represents to Buyers that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation by the Company and its representatives and advisors.

              

      

    

     

    
      
        	

              	(i)	
                Registration Statement. The Shelf Registration Statement has been declared effective by the SEC, and no stop order has been issued or is pending or, to the knowledge of the Company, threatened by
                  the SEC with respect thereto. As of the date hereof, the Company has a dollar amount of securities registered and unsold under the Shelf Registration Statement, which is not less than the amount necessary to register the Securities on the
                  date hereof.

              

      

    

     

    
      
        	4.	
                Covenants.

              

      

    

     

    
      
        	

              	(a)	
                Filing of Form 8-K and Prospectus Supplement. The Company agrees that it shall, within the time required under the Exchange Act file a Current Report on Form 8-K disclosing this Agreement and the
                  transaction contemplated hereby. The Company shall file within two (2) Business Days from the date hereof a prospectus supplement to the Company’s existing shelf registration statement on Form S-3 (File No. 333-221421, the “Shelf Registration Statement”) covering the sale of the Securities (the “Prospectus Supplement”). The Shelf Registration Statement (including any amendments or
                  supplements thereto and prospectuses or prospectus supplements, including the Prospectus Supplement, contained therein) shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated
                  therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading.

              

      

    

     

    
      
        	

              	(b)	
                Post-Effective Amendments. If, at the time this Agreement is executed and delivered, it is necessary or appropriate for a post-effective amendment to the Shelf Registration Statement, or a
                  registration statement under Rule 462(b) under the Securities Act (“Rule 462(b)”), to be filed with the SEC and become effective before the exercise of the Pre-Funded Warrants and the issue and sale
                  of the Warrant Shares, the Company will use its best efforts to cause such post-effective amendment or such registration statement to be filed and become effective, and will pay any applicable fees in accordance with the Securities Act,
                  as soon as possible; and the Company will advise Buyers promptly and, if requested by Buyers, will confirm such advice in writing, when such post-effective amendment or such registration statement has become effective.

              

      

    

     

    
      5

      
        

    

    
      
        	

              	(c)	
                Maintenance of Registration. The Company shall, at all times while any Pre-Funded Warrants are outstanding, use its best efforts to maintain a registration statement covering the exercise of the
                  Pre-Funded Warrants and the issue and sale of the Warrant Shares such that the Warrant Shares, when issued, will not be subject to resale restrictions under the Securities Act, except to the extent that the Warrant Shares are owned by
                  affiliates.

              

      

    

     

    
      
        	

              	(d)	
                Warrant Shares Reserved. The Company shall, at all times while any Pre-Funded Warrants are outstanding, reserve and keep available out of the aggregate of its authorized but unissued and
                  otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of such Pre-Funded Warrants, the number of Warrant Shares that are initially issuable and deliverable upon the exercise of the
                  then-outstanding Pre-Funded Warrants.

              

      

    

     

    
      
        	

              	(e)	
                Expenses. The Company shall pay all costs, expenses, fees and taxes in connection with (i) the preparation and filing of the Shelf Registration Statement, the Prospectus Supplement and any
                  amendments or supplements thereto, and the printing and furnishing of copies of each thereof to Buyers (including costs of mailing and shipment), (ii) the registration, issue, sale and delivery of the Securities including any stock or
                  transfer taxes and stamp or similar duties payable upon the sale, issuance or delivery of the Securities to Buyers, (iii) the qualification of the Securities for offering and sale under state or foreign laws and the determination of their
                  eligibility for investment under state or foreign law, (iv) any listing of the Securities on any securities exchange or qualification of the Securities for listing on Nasdaq and any registration thereof under the Exchange Act, (v) the
                  fees and disbursements of any transfer agent or registrar for the Securities, (vi) the costs and expenses of qualifying the Warrant Shares for inclusion in the book-entry settlement system of the DTC, and (vii) the performance of the
                  Company’s other obligations hereunder.

              

      

    

     

    
      
        	

              	(f)	
                Disclosure. The Company shall provide Buyers, for their review, copies of the Prospectus Supplement and any Form 8-K, press release or other communication to be issued by the Company relating to
                  the Securities. The Company shall, prior to the opening of the financial markets in New York City on or before the business day immediately after the date hereof: file a Current Report on Form 8-K with the SEC, including a form of this
                  Agreement as an exhibit thereto, which discloses all material non-public information disclosed to Buyers.

              

      

    

     

    
      
        	

              	(g)	
                Listing. The Company shall promptly secure the listing of all of the Warrant Shares upon each national securities exchange and automated quotation system that requires an application by the
                  Company for listing, if any, upon which shares of Common Stock are then listed (subject to official notice of issuance) and shall maintain such listing, so long as any other shares of Common Stock shall be so listed. The Company shall pay
                  all fees and expenses in connection with satisfying its obligations under this Section.

              

      

    

     

    
      
        	

              	(h)	
                Transfer Agent. The Company shall maintain a transfer agent and, if necessary under the jurisdiction of incorporation of the Company, a registrar for the Warrant Shares.

              

      

    

     

    
      6

      
        

    

    
      
        	

              	(i)	
                Lock-Up. Each Buyer agrees that for a period of seven calendar days after the date the Pre-Funded Warrants are issued, it will not (i) offer, pledge, sell, contract to sell, sell any option or
                  contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of the Company’s Common Stock or any securities
                  convertible into or exercisable or exchangeable for the Company’s Common Stock (including, without limitation, the Pre-Funded Warrants), or publicly disclose the intention to undertake any of the foregoing, (ii) enter into any swap or
                  other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Stock or such other securities, whether any such transaction described in clause (i) or (ii) above is to be settled by
                  delivery of Common Stock or such other securities, in cash or otherwise, or (iii) make any demand for or exercise any right with respect to the registration of any shares of the Company’s Common Stock or any security convertible into or
                  exercisable or exchangeable for the Company’s Common Stock.

              

      

    

     

    
      
        	5.	
                Closing Conditions.

              

      

    

     

    
      
        	

              	(a)	
                The obligations of the Company hereunder are subject to the following conditions being met:

              

      

    

     

    
      
        
          
            	 	
                    i.

                  	
                    the accuracy in all material respects as of the date hereof and the Closing Date of the representations and warranties by Buyers contained herein; and

                  

          

        

      

    

     

    
      
        	

              	ii.	
                the delivery by each Buyer of the purchase price set forth on Buyers’ signature page hereto to the Company.

              

      

    

     

    
      
        	

              	(b)	
                The obligations of the Buyers hereunder are subject to the performance by the Company of its obligations hereunder and to the following conditions being met:

              

      

    

    

    

    
      
        	

              	i.	
                the accuracy in all material respects as of the date hereof and the Closing Date of the representations and warranties by the Company contained herein;

              

      

    

     

    
      
        	

              	ii.	
                the delivery by the Company to Buyers of the Prospectus Supplement;

              

      

    

     

    
      
        	

              	iii.	
                the delivery by the Company to Buyers of the Pre-Funded Warrants;

              

      

    

     

    
      
        	

              	iv.	
                the delivery by the Company to Buyers at the time of purchase of an opinion letter of Gibson, Dunn & Crutcher LLP, counsel for the Company, addressed to Buyers, and dated the time of purchase, in form and substance reasonably
                  satisfactory to Buyers; provided, however, that such opinion shall not be required to include a negative assurance letter;

              

      

    

     

    
      
        	

              	v.	
                no prospectus or amendment or supplement to the Shelf Registration Statement or the Prospectus Supplement shall have been filed to which Buyers shall have reasonably objected in writing;

              

      

    

    

    

    
      
        	

              	vi.	
                the Shelf Registration Statement and any registration statement required to be filed, prior to the sale of the Securities, under the Securities Act pursuant to Rule 462(b) shall have been filed
                  and shall have become effective under the Securities Act, and the Prospectus Supplement shall have been filed with the SEC pursuant to Rule 424(b) under the Securities Act; and

              

      

    

     

    
      7

      
        

    

    
      
        	

              	vii.	
                the delivery by the Company to Buyers at the time of purchase of certificates of (i) its Chief Legal Officer, dated the time of purchase, in form and substance reasonably satisfactory to Buyers and (ii) its Secretary or an Assistant
                  Secretary, in form and substance reasonably satisfactory to Buyers.

              

      

    

     

    
      
        	6.	
                Transfer Agent Instructions. All of the Pre-Funded Warrants to be issued under this Agreement shall be issued without any restrictive legend. All of the Warrant Shares to be issued under this
                  Agreement shall be issued without any restrictive legend, provided that the Company either maintains an effective registration statement covering the exercise of the Pre-Funded Warrants and the issue and sale of the Warrant Shares, or the
                  Warrant Shares are issued upon a “net share exercise” of the Pre-Funded Warrants pursuant to the terms thereof. Following exercise of the Pre-Funded Warrants in accordance with the terms thereof, the Company shall issue irrevocable
                  instructions to the Transfer Agent and any subsequent transfer agent, to issue Common Stock in the name of Buyers for the Warrant Shares. For purposes herein, “Transfer Agent” means American Stock
                  Transfer & Trust Company, LLC, as the Company’s transfer agent and registrar for the Common Stock, and any successor appointed in such capacity.

              

      

    

     

    
      
        	7.	
                Miscellaneous.

              

      

    

     

    
      
        	

              	(a)	
                Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of
                  the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason
                  of this Agreement, except as expressly provided in this Agreement.

              

      

    

     

    
      
        	

              	(b)	
                Governing Law; Jury Trial. This Agreement shall be governed by and construed under the laws of the State of New York as applied to agreements among New York residents entered into and to be
                  performed entirely within New York. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
                    HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

              

      

    

     

    
      
        	

              	(c)	
                Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have
                  been signed by each party and delivered to the other party; provided that a facsimile or pdf (or other electronic reproduction) signature shall be considered due execution and shall be binding upon the signatory thereto with the same
                  force and effect as if the signature were an original, not a facsimile or .pdf (or other electronic reproduction) signature.

              

      

    

     

    
      
        	

              	(d)	
                Headings. The headings, titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

              

      

    

     

    
      8

      
        

    

    
      
        	

              	(e)	
                Notices. Any notices, consents or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered: (i) upon
                  receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); (iii) upon receipt, when sent by
                  electronic message (provided the recipient responds to the message and confirmation of both electronic messages are kept on file by the sending party); or (iv) one (1) Business Day after timely deposit with a nationally recognized
                  overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

              

      

    

     

    If to the Company:

    

    

    BioCryst Pharmaceuticals, Inc.

    4504 Emperor Blvd., Suite 200

    Durham, North Carolina 27703

    Telephone: 919-859-7930

    Attention: Alane Barnes

    Email: ABarnes@biocryst.com

    

    

    With a copy (which shall not constitute notice) to:

    

    

    Gibson, Dunn and Crutcher LLP

    1801 California Street

    Denver, Colorado

    Telephone: 303-298-5740

    Attention: Robyn E. Zolman

    Email: RZolman@gibsondunn.com

     

    If to Buyers:

    

    

    Baker Brothers Life Sciences, L.P.

    860 Washington Street

    New York, NY 10014

    Telephone: 212-339-5699

    Attention: Scott Lessing

    Email: slessing@BBInvestments.com

    

    

    With a copy (which shall not constitute notice) to:

    

    

    Akin Gump Strauss Hauer & Feld LLP

    One Bryant Park

    New York, NY 10036-6745

    Telephone: 212-872-8069

    Attention: Jeffrey Kochian

    Email: jkochian@akingump.com

    

    

    
       

    

    
      9

      
        

    

    
      
        
          
            
              	

                    	(f)	
                      Finder’s Fee. Each party represents that it neither is nor will be obligated for any finders’ fee or commission in connection with this transaction. Buyer agrees to indemnify and to hold
                        harmless the Company from any liability for any commission or compensation in the nature of a finders’ fee (and the costs and expenses of defending against such liability or asserted liability) for which Buyer or any of its
                        officers, partners, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless Buyer from any liability for any commission or compensation in the nature of a finders’ fee (and the costs and
                        expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

                    

               

              

            

          

        

        	

              	(g)	
                Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either
                  retroactively or prospectively), only with the written consent of the Company and each Buyer.

              

      

    

     

    
      
        	

              	(h)	
                Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement
                  shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

              

      

    

     

    
      
        	

              	(i)	
                Entire Agreement. This Agreement and the other documents referred to herein constitute the entire agreement among the parties and no party shall be liable or bound to any other party in any
                  manner by any warranties, representations, or covenants except as specifically set forth herein or therein.

              

      

    

     

    
      
        	

              	(j)	
                Indemnification. In consideration of Buyer’s execution and delivery of is Agreement and acquiring the Securities hereunder and in addition to all of the Company’s other obligations under this
                  Agreement, the Company shall defend, protect, indemnify and hold harmless Buyer and all of its affiliates, members, officers, directors, and employees, and any of the foregoing person’s agents or other representatives (including, without
                  limitation, those retained in connection with the transaction contemplated by this Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits, claims,
                  losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable
                  attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or relating to (i) any misrepresentation or breach of any
                  representation or warranty made by the Company in this Agreement or any other certificate, instrument or document contemplated hereby, (ii) any breach of any covenant, agreement or obligation of the Company contained in this Agreement or
                  any other certificate, instrument or document contemplated hereby, or (iii) any cause of action, suit or claim brought or made against such Indemnitee and arising out of or resulting from the execution, delivery, performance or
                  enforcement of this Agreement or any other certificate, instrument or document contemplated hereby, other than with respect to Indemnified Liabilities which directly and primarily result from (A) a breach of any of Buyer’s representations
                  and warranties, covenants or agreements contained in this Agreement, or (B) the gross negligence, bad faith or willful misconduct of Buyer or any other Indemnitee. To the extent that the foregoing undertaking by the Company may be
                  unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law.

              

      

    

     

    
      10

      
        

    

    
      
        	

              	(k)	
                Construction. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to revise the Agreement and, therefore, the normal rule of construction to
                  the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Agreement or any amendments hereto.

              

      

    

     

    
      
        	

              	(l)	
                Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates,
                  instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transaction contemplated hereby.

              

      

    

     

    [Signature Pages Follow]

     

    
      11

      
        

    

    IN WITNESS WHEREOF, the parties hereto have executed this Securities Purchase Agreement as of the day and year first above written.

     

    	
            BIOCRYST PHARMACEUTICALS, INC.

          	 
	 	 	 
	
            By:

          	
            /s/ Alane Barnes

          	 
	 	 	 
	
            Name:

          	
            Alane Barnes

          	 
	 	 	 
	
            Title:

          	
            Senior Vice President and Chief Legal Officer

          	 

     

    

    
      
        

    

    IN WITNESS WHEREOF, the parties hereto have executed this Securities Purchase Agreement as of the day and year first above written.

     

    667, L.P.

     

    

    By:  BAKER BROS. ADVISORS LP, management company and investment adviser to 667, L.P., pursuant to authority granted to it by Baker
      Biotech Capital, L.P., general partner  to 667, L.P., and not as the general partner.

     

    	
            By:

          	
            /s/ Scott L. Lessing

          	 
	 	
            Scott L. Lessing

          
	 	
            President

          

    

    

    	
             

            Number of Pre-Funded Warrants:

          	 	 	
            977,457

          	 
	 	 	 	 	 
	
            Purchase Price:

          	 	
            $

          	
            1,651,902.33

          	 

     

    BAKER BROTHERS LIFE SCIENCES, L.P.

     

    By:  BAKER BROS. ADVISORS LP, management company and investment adviser to Baker Brothers Life Sciences, L.P., pursuant to authority
      granted to it by Baker Brothers Life Sciences Capital, L.P., general partner  to Baker Brothers Life Sciences, L.P., and not as the general partner.

     

    	
            By:

          	
            /s/ Scott L. Lessing

          	 
	 	
            Scott L. Lessing

          
	 	
            President

          

    

    

    	
            Number of Pre-Funded Warrants:

          	 	 	
            10,787,249

          	 
	 	 	 	 	 
	
            Purchase Price:

          	 	
            $

          	
            18,230,450.81

          	 

     

    

    
      
        

    

    EXHIBIT A

     

    Form of Pre-Funded Warrant

     

    
      BIOCRYST PHARMACEUTICALS, INC.

       

      FORM OF PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK

      

      

      Number of Shares: [           ]

      (subject to adjustment)

       

      

      Warrant No. [   ]

      Original Issue Date: November [   ], 2019

       

      BioCryst Pharmaceuticals, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [Baker
        Brothers Life Sciences, L.P.][667, L.P.] or its permitted registered assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company up to a total of [               
        ] shares of common stock, $0.01 par value per share (the “Common Stock”), of the Company (each such share, a “Warrant Share” and all such shares, the “Warrant Shares”) at an exercise price per share equal to $0.01 per share (as adjusted from time to time as provided in Section 9 herein, the “Exercise Price”),
        upon surrender of this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”) at any time and from time to time on or after the date hereof (the “Original Issue Date”), subject to the following terms and conditions:

       

      1.     Definitions. For purposes of this Warrant, the following terms shall have the following meanings:

       

      (a) “Affiliate” means any Person directly or indirectly controlled by, controlling or under common control with, a Holder, but only for so long as such control shall continue. For purposes of this definition, “control”
        (including, with correlative meanings, “controlled by”, “controlling” and “under common control with”) means, with respect to a Person, possession, direct or indirect, of (a) the power to direct or cause direction of the management and policies of
        such Person (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise), or (b) at least 50% of the voting securities (whether directly or pursuant to any option, warrant or other similar
        arrangement) or other comparable equity interests.

       

      (b) “Commission” means the United States Securities and Exchange Commission.

       

      (c) “Closing Sale Price” means, for any security as of any date, the last trade price for such security on the Principal Trading Market for such security, as reported by
        Bloomberg Financial Markets, or, if such Principal Trading Market begins to operate on an extended hours basis and does not designate the last trade price, then the last trade price of such security prior to 4:00 P.M., New York City time, as
        reported by Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no
        last trade price is reported for such security by Bloomberg Financial Markets, the average of the bid and ask prices, of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC. If the Closing Sale Price cannot be
        calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder
        are unable to agree upon the fair market value of such security, then the Board of Directors of the Company shall use its good faith judgment to determine the fair market value. The Board of Directors’ determination shall be binding upon all
        parties absent demonstrable error. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.

       

      (d) “Principal Trading Market” means the national securities exchange or other trading market on which the Common Stock is primarily listed on and quoted for trading, which, as
        of the Original Issue Date, shall be the Nasdaq Global Select Market.

       

      (e) “Registration Statement” means the Company’s Registration Statement on Form S-3 (File No. 333-221421), as amended, declared effective on December 12, 2017.

       

      

      
        

        
          

      

      (f) “Securities Act” means the Securities Act of 1933, as amended.

       

      (g) “Trading Day” means any weekday on which the Principal Trading Market is open for trading.

       

      (h) “Transfer Agent” means American Stock Transfer & Trust Company, LLC, the Company’s transfer agent and registrar for the Common Stock, and any successor appointed in such
        capacity.

       

      2.     Issuance of Securities; Registration of Warrants. The Warrant, as initially issued by the Company, is offered and sold pursuant to the Registration Statement. The Company shall register ownership of this Warrant, upon records to
        be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder (which shall include the initial Holder or, as the case may be, any assignee to which this Warrant is
        assigned hereunder) from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent
        actual notice to the contrary.

       

      3.     Registration of Transfers. Subject to compliance with all applicable securities laws, the Company shall, or will cause its Transfer Agent to, register the transfer of all or any portion of this Warrant in the Warrant Register,
        upon surrender of this Warrant, and payment for all applicable transfer taxes (if any). Upon any such registration or transfer, a new warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a “New Warrant”) evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be
        issued to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations in respect of the New Warrant that the Holder has in respect of
        this Warrant. The Company shall, or will cause its Transfer Agent to, prepare, issue and deliver at the Company’s own expense any New Warrant under this Section 3. Until due presentment for registration of transfer, the Company may treat
        the registered Holder hereof as the owner and holder for all purposes, and the Company shall not be affected by any notice to the contrary.

       

      4.     Exercise and Duration of Warrants.

       

      (a) All or any part of this Warrant shall be exercisable by the registered Holder in any manner permitted by this Warrant at any time and from time to time on or after the Original Issue Date.

       

      (b) The Holder may exercise this Warrant by delivering (as determined in accordance with the notice provisions hereof) to the Company an exercise notice, in the form attached as Schedule 1 hereto (the “Exercise Notice”), completed and duly signed.  Within one (1) Trading Day following the date of delivery of the Exercise Notice, the Holder shall make payment of the Exercise Price for the number of Warrant
        Shares as to which this Warrant is being exercised (which may take the form of a “cashless exercise” if so indicated in the Exercise Notice pursuant to Section 10 below).  The date on which the Notice of Exercise is delivered to the Company
        (as determined in accordance with the notice provisions hereof) is an “Exercise Date” provided, that if the Exercise Price is not delivered on or before one (1) Trading Day following the date of delivery of
        the Exercise Notice, the Exercise Date shall be deemed to be one (1) Trading Day following the date of that the Exercise Price is delivered to the Company. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or
        other type of guarantee or notarization) of any Notice of Exercise be required.  The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery of the Exercise Notice shall have the
        same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares, if any.  The aggregate exercise price of this Warrant, except for the Exercise Price, was
        pre-funded to the Company on or before the Original Issue Date, and consequently no additional consideration (other than the Exercise Price) shall be required by to be paid by the Holder to effect any exercise of this Warrant.  The Holder shall not
        be entitled to the return or refund of all, or any portion, of such pre-funded exercise price under any circumstance or for any reason whatsoever.

       

      

      
        

        
          

      

      5.     Delivery of Warrant Shares.

       

      (a) Upon exercise of this Warrant, the Company shall promptly (but in no event later than two (2) Trading Days after the Exercise Date), upon the request of the Holder, credit such aggregate number of shares of Common
        Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with The Depository Trust Company (“DTC”) through its Deposit / Withdrawal At Custodian
        system, or if the Transfer Agent is not participating in the Fast Automated Securities Transfer Program (the “FAST Program”) or if the certificates are required to bear a legend regarding restriction on
        transferability, issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of shares of Common
        Stock to which the Holder is entitled pursuant to such exercise. The Holder, or any natural person or legal entity (each, a “Person”) so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such
        Warrant Shares as of the time of delivery of the Exercise Notice on the Exercise Date, irrespective of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares,
        as the case may be.  While this Warrant remains outstanding, the Company shall maintain a transfer agent that participates in the FAST Program.

       

      (b) If by the close of the fifth (5th) Trading Day after the Exercise Date, the Company fails to deliver to the Holder a certificate representing the required number of Warrant Shares in the manner required pursuant to
        Section 5(a) or fails to credit the Holder’s balance account with DTC for such number of Warrant Shares to which the Holder is entitled, and if after such second (2nd) Trading Day and prior to the receipt of such Warrant Shares, the Holder
        purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),

        then the Company shall, within two (2) Trading Days after the Holder’s request and in the Holder’s sole and absolute discretion, either (1) pay in cash to the Holder an amount equal to the Holder’s total purchase price (including brokerage
        commissions, if any) for the shares of Common Stock so purchased, at which point the Company’s obligation to deliver such certificate (and to issue such Warrant Shares) shall terminate or (2) promptly honor its obligation to deliver to the Holder a
        certificate or certificates representing such Warrant Shares and pay cash to the Holder in an amount equal to the excess (if any) of Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased
        in the Buy-In over the product of (A) the number of shares of Common Stock purchased in the Buy-In, times (B) the Closing Sale Price of a share of Common Stock on the Exercise Date.

       

      (c) To the extent permitted by law and subject to Section 5(b), the Company’s obligations to issue and deliver Warrant Shares in accordance with and subject to the terms hereof (including the limitations set
        forth in Section 11 below) are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person
        or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law
        by the Holder or any other Person, and irrespective of any other circumstance that might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Subject to Section 5(b), nothing herein
        shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely
        deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

       

      6.     Charges, Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer tax, transfer agent fee or other
        incidental tax or expense (excluding any applicable stamp duties) in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the
        Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof. The
        Holder shall be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.

       

      

      
        

        
          

      

      7.     Replacement of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this
        Warrant, a New Warrant, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case, a customary and reasonable indemnity (but not the posting of any surety or other
        bond), if requested by the Company. Applicants for a New Warrant under such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable third party costs as the Company may prescribe.  If a
        New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.

       

      8.     Reservation of Warrant Shares. The Company covenants that it will, at all times while this Warrant is outstanding, reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common
        Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of Warrant Shares that are initially issuable and deliverable upon the exercise of this entire Warrant, free from
        preemptive rights or any other contingent purchase rights of persons other than the Holder (taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable shall,
        upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and fully paid and non-assessable. The Company will take all such action as may be reasonably necessary to
        assure that such shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Stock may be
        listed.  The Company further covenants that it will not, without the prior written consent of the Holder, take any actions to increase the par value of the Common Stock at any time while this Warrant is outstanding.

       

      9.     Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 9.

       

      (a) Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock
        issued and outstanding on the Original Issue Date and in accordance with the terms of such stock on the Original Issue Date or as amended, as described in the Registration Statement, that is payable in shares of Common Stock, (ii) subdivides its
        outstanding shares of Common Stock into a larger number of shares of Common Stock, (iii) combines its outstanding shares of Common Stock into a smaller number of shares of Common Stock or (iv) issues by reclassification of shares of capital stock
        any additional shares of Common Stock of the Company, then in each such case the Exercise Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and
        the denominator of which shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the
        determination of stockholders entitled to receive such dividend or distribution, provided, however, that if such record date shall have been fixed and such dividend is not fully paid on the date fixed therefor, the Exercise Price shall be
        recomputed accordingly as of the close of business on such record date and thereafter the Exercise Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends. Any adjustment pursuant to clause (ii) or
        (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

       

      (b) Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, distributes to all holders of Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security
        (other than a distribution of Common Stock covered by the preceding paragraph) or (iii) rights or warrants to subscribe for or purchase any security, or (iv) cash or any other asset (in each case, “Distributed
          Property”), then, upon any exercise of this Warrant that occurs after the record date fixed for determination of stockholders entitled to receive such distribution, the Holder shall be entitled to receive, in addition to the Warrant Shares
        otherwise issuable upon such exercise (if applicable), the Distributed Property that such Holder would have been entitled to receive in respect of such number of Warrant Shares had the Holder been the record holder of such Warrant Shares
        immediately prior to such record date without regard to any limitation on exercise contained therein. The Company covenants that it will, at all times while this Warrant is outstanding, reserve and keep available all Distributed Property that the
        Holder shall be entitled to receive hereunder, solely for the purpose of fulfilling its obligations pursuant to this Section 9(b).

       

      

      
        

        
          

      

      (c) Fundamental Transactions. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation of the Company with or into another Person, in which the Company is not the
        surviving entity and in which the stockholders of the Company immediately prior to such merger or consolidation do not own, directly or indirectly, at least 50% of the voting power of the surviving entity immediately after such merger or
        consolidation, (ii) the Company effects any sale to another Person of all or substantially all of its assets in one transaction or a series of related transactions, (iii) pursuant to any tender offer or exchange offer (whether by the Company or
        another Person), holders of capital stock tender shares representing more than 50% of the voting power of the capital stock of the Company and the Company or such other Person, as applicable, accepts such tender for payment, (iv) the Company
        consummates a stock purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than the 50% of
        the voting power of the capital stock of the Company (except for any such transaction in which the stockholders of the Company immediately prior to such transaction maintain, in substantially the same proportions, the voting power of such Person
        immediately after the transaction) or (v) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or
        property (other than as a result of a subdivision or combination of shares of Common Stock covered by Section 9(a) above) (in any such case, a “Fundamental Transaction”), then following such
        Fundamental Transaction the Holder shall have the right to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental
        Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to any limitations on exercise contained herein (the “Alternate Consideration”). The Company shall not effect any Fundamental Transaction in which the Company is not the surviving entity or the Alternate Consideration includes securities of another Person unless
        (i) the Alternate Consideration is solely cash and the Company provides for the simultaneous “cashless exercise” of this Warrant pursuant to Section 10 below or (ii) prior to or simultaneously with the consummation thereof, any successor to
        the Company, surviving entity or other Person (including any purchaser of assets of the Company) shall assume the obligation to deliver to the Holder such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be
        entitled to receive, and the other obligations under this Warrant. The provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous of a Fundamental Transaction type.

       

      (d) Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to Section 9, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be
        increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately
        prior to such adjustment.

       

      (e) Calculations. All calculations under this Section 9 shall be made to the nearest one-tenth of one cent or the nearest share, as applicable.

       

      (f) Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will, at the written request of the Holder, promptly compute such adjustment, in
        good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon
        exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such
        certificate to the Holder and to the Company’s transfer agent.

       

      

      
        

        
          

      

      (g) Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution of cash, securities or other property in respect of its Common Stock,
        including, without limitation, any granting of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval
        for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then, except if such notice and the contents thereof shall be deemed to constitute material non-public
        information, the Company shall deliver to the Holder a notice of such transaction at least ten (10) days prior to the applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with
        respect to such transaction; provided, however, that the failure to deliver such notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice.
        In the event such notice and the contents thereof shall be deemed to constitute material non-public information, the Company shall (on the same time frame set forth in the immediately prior sentence) offer the Holder the ability to sign a
        confidentiality agreement related thereto sufficient to allow the Holder to receive such notice, and the Company shall deliver such notice immediately upon execution of such confidentiality agreement.  In addition, if while this Warrant is
        outstanding, the Company authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction contemplated by Section 9(c), other than a Fundamental Transaction under clause (iii)
        of Section 9(c), the Company shall deliver to the Holder a notice of such Fundamental Transaction at least thirty (30) days prior to the date such Fundamental Transaction is consummated. Holder agrees to maintain any information disclosed
        pursuant to this Section 9(g) in confidence until such information is publicly available, and shall comply with applicable law with respect to trading in the Company’s securities following receipt any such information.

       

      10.   Payment of Exercise Price. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, satisfy its obligation to pay the Exercise Price through a “cashless exercise”, in which event the
        Company shall issue to the Holder the number of Warrant Shares determined as follows:

       

      X = Y [(A-B)/A]

       

      where:

       

      “X” equals the number of Warrant Shares to be issued to the Holder;

       

      “Y” equals the total number of Warrant Shares with respect to which this Warrant is then being exercised;

       

      “A” equals  (i) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Trading Day immediately preceding the Exercise Date if the Exercise Notice is delivered prior to market close on the
        Exercise Date, or (ii) the last Closing Sale Price of the shares of Common Stock (as reported by Bloomberg Financial Markets) on the Exercise Date if the Exercise Notice is delivered following market close on the Exercise Date; and

       

      “B” equals the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

       

      For purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a “cashless exercise” transaction shall be deemed to have been acquired by the Holder, the Warrant
        Shares shall take on the registered characteristics of the Warrants being exercised, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued (provided that the Commission
        continues to take the position that such treatment is proper at the time of such exercise). In the event that the Registration Statement or another registration statement registering the issuance of Warrant Shares is, for any reason, not effective
        at the time of exercise of this Warrant, then the Warrant may only be exercised through a cashless exercise, as set forth in this Section 10. Except as set forth in Section 5(b) (Buy-In remedy) and Section 12 (payment of
        cash in lieu of fractional shares), in no event will the exercise of this Warrant be settled in cash.

       

      

      
        

        
          

      

      11.   Limitations on Exercise.

      

      

      (a)    Notwithstanding anything to the contrary contained herein, the Company shall not effect any exercise of this Warrant, and the Holder shall not be entitled to exercise this Warrant for a number of Warrant Shares
        in excess of that number of Warrant Shares which, upon giving effect or immediately prior to such exercise, would cause (i) the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and any other Persons
        whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act, to exceed 9.99% (the “Maximum Percentage”) of the total number of issued and outstanding shares of Common Stock of
        the Company following such exercise, or (ii) the combined voting power of the securities of the Company beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with
        the Holder’s for purposes of Section 13(d) of the Exchange Act to exceed 9.99% of the combined voting power of all of the securities of the Company then outstanding following such exercise. For purposes of this Warrant, in determining the number of
        outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as the case may be, filed with the Commission prior to the date
        hereof, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall
        within three (3) Trading Days confirm in writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the
        conversion or exercise of securities of the Company, including this Warrant, by the Holder since the date as of which such number of outstanding shares of Common Stock was reported. By written notice to the Company, the Holder may from time to time
        increase or decrease the Maximum Percentage to any other percentage not in excess of 19.99% specified in such notice; provided that any such increase will not be effective until the sixty-first (61st) day after such notice is delivered to the
        Company. For purposes of this Section 11(a), the aggregate number of shares of Common Stock or voting securities beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be
        aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act shall include the shares of Common Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall exclude the number
        of shares of Common Stock which would be issuable upon (x) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Holder and (y) exercise or conversion of the unexercised, non-converted or non-cancelled portion of
        any other securities of the Company that do not have voting power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any time Common Stock, including without limitation any debt,
        preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock), is subject to a limitation on conversion or
        exercise analogous to the limitation contained herein and is beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d)
        of the Exchange Act.

       

      (b)    This Section 11 shall not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities or other consideration that such
        Holder may receive in the event of a Fundamental Transaction as contemplated in Section 9(c) of this Warrant.

       

      12.   No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant. In lieu of any fractional shares that would otherwise be issuable, the number of Warrant Shares to be issued shall
        be rounded down to the next whole number and the Company shall pay the Holder in cash the fair market value (based on the Closing Sale Price) for any such fractional shares.

       

      13.   Notices. Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall be in writing and shall be deemed given and effective on the earliest of (i) the time of
        transmission, if such notice or communication is delivered via facsimile or e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent prior to 5:30 P.M., New York City time, on a Trading Day so long
        as the sender of an e-mail has not received an automated notice of delivery failure from the proposed recipient’s computer server, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile
        or e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent on a day that is not a Trading Day or later than 5:30 P.M., New York City time, on any Trading Day so long as the sender of an e-mail has
        not received an automated notice of delivery failure from the proposed recipient’s computer server, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service specifying next business day
        delivery, or (iv) upon actual receipt by the Person to whom such notice is required to be given, if by hand delivery.  To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company
        or any subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

       

      

      
        

        
          

      

      14.   Warrant Agent. The Company shall initially serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new
        warrant agent may be merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially all of its
        corporate trust or shareholders services business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by first
        class mail, postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register. Notwithstanding anything to the contrary contained herein or in any warrant agency agreement that the Company may enter into in the future,
        the Holder shall be entitled to elect to receive, or continue to hold, this Warrant in certificated form, in which case the terms set forth in any such warrant agency agreement shall not apply to this Warrant.

       

      15.   Miscellaneous.

       

      (a) No Rights as a Stockholder. The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the
        Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote,
        give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription
        rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any
        liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

       

      (b) Authorized Shares.

       

      (i) Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate or articles of incorporation or
        through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
        times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the
        generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary or
        appropriate in order that the Company may validly and legally issue fully paid and non-assessable Warrant Shares upon the exercise of this Warrant, and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or
        consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant.

       

      (ii) Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such
        authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

       

      (c) Successors and Assigns. Subject to the restrictions on transfer set forth in this Warrant and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be
        assigned by the Company without the written consent of the Holder, except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the benefit of the Company and the Holder and their respective
        successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this Warrant. This
        Warrant may be amended only in writing signed by the Company and the Holder, or their successors and assigns.

       

      (d) Amendment and Waiver. Except as otherwise provided herein, the provisions of the Warrants may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to
        be performed by it, only if the Company has obtained the written consent of the Holders of Warrants representing no less than a majority of the Warrant Shares obtainable upon exercise of the Warrants then outstanding.

       

      (e) Acceptance. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

       

      

      
        

        
          

      

      (f) Governing Law; Jurisdiction. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS
        OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK,
        BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND
        HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE
        OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PERSON AT THE ADDRESS IN EFFECT FOR NOTICES
        TO IT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. EACH OF THE
        COMPANY AND THE HOLDER HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY.

       

      (g) Headings. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof.

       

      (h) Severability. In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this
        Warrant shall not in any way be affected or impaired thereby, and the Company and the Holder will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so
        agreeing, shall incorporate such substitute provision in this Warrant.

       

      (i) Interpretation. For purposes of this Warrant, (a) the words “include,” “includes” and “including” are deemed to be followed by the words “without limitation”; (b) the word “or” is not exclusive; and (c) the
        words “herein,” “hereof, “hereby,” “hereto” and “hereunder” refer to this Warrant as a whole. Unless the context otherwise requires, references herein: (x) to sections and schedules mean the sections of, and schedules attached to, this Warrant; (y)
        to an agreement, instrument, or other document means such agreement, instrument, or other document (as amended, supplemented and modified from time to time to the extent permitted by the provisions thereof/without regard to subsequent amendments,
        supplements, and modifications thereto); and (z) to a statute means such statute (as amended from time to time and includes/enforced at the time and date of this Warrant becoming effective) and does not include any successor legislation thereto and
        any regulations promulgated thereunder. This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. The
        schedules referred to herein shall be construed with, and as an integral part of, this Warrant to the same extent as if they were set forth verbatim herein. All references to “$” or “dollars” mean the lawful currency of the United States of
        America. Whenever the singular is used in this Warrant, the same shall include the plural, and whenever the plural is used herein, the same shall include the singular, where appropriate.

       

      [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

       

      

      
        

        
          

        

      

      IN WITNESS WHEREOF, the undersigned has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.

      

      

      	 	
              COMPANY:

            
	 	 
	 	
              BIOCRYST PHARMACEUTICALS, INC.

            
	 	 	 
	 	
              By:

            	
              

              

            
	 	
              Name:

            	
              Alane Barnes

            
	 	
              Title:

            	
              Senior Vice President and Chief Legal Officer

            

       

      

      
        

        
          

        

      

      SCHEDULE 1

       

      FORM OF EXERCISE NOTICE

       

      [To be executed by the Holder to purchase shares of Common Stock under the Warrant]

       

      Ladies and Gentlemen:

       

      (1)   The undersigned is the Holder of Warrant No. __ (the “Warrant”) issued by BioCryst Pharmaceuticals, Inc., a Delaware corporation (the “Company”). Capitalized
        terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant.

       

      (2)   The undersigned hereby exercises its right to purchase Warrant Shares pursuant to the Warrant.

       

      (3)   The Holder intends that payment of the Exercise Price shall be made as (check one):

      

      

      
        
          	 	
                  ☐

                	
                  Cash Exercise

                

        

         

        

        
          
            	 	
                    ☐

                  	
                    “Cashless Exercise” under Section 10 of the Warrant

                  

          

           

          

        

      

      (4)   If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $ in immediately available funds to the Company in accordance with the terms of the Warrant.

       

      (5)   Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant.

       

      (6)   By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock
        (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under Section 11(a) of the Warrant to which this notice relates.

      

      

      	
              Dated:

            	 	 

      

      

      	
              Name of Holder:

            	 	 

      

      

      	
              By:

            	 	 
	
              Name:

            	 	 
	
              Title:

            	 	 

      (Signature must conform in all respects to name of Holder as specified on the face of the Warrant)

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