Document:

EX-10.4

 Exhibit 10.4 

I-Mab 

2020 SHARE INCENTIVE PLAN 

ARTICLE I. 
 PURPOSE

 The purpose of the Plan is to promote the success and enhance the value of I-MAB, an exempted
company formed under the laws of the Cayman Islands (the “Company”), by linking the personal interests of Service Providers to those of the Company’s shareholders and by providing such individuals with an incentive for
outstanding performance to generate superior returns to the Company’s shareholders. Capitalized terms used in the Plan are defined in Article XI below 

ARTICLE II. 
 ELIGIBILITY

 Service Providers of the Company, including Directors, Employees, Consultants and other service providers that the Administrator
deems appropriate, are eligible to be granted Awards under the Plan, subject to the limitations described herein. 
 ARTICLE III. 

ADMINISTRATION AND DELEGATION 

3.1    Administration. The Plan will be administered by the Administrator. The Administrator shall have authority
to determine which Service Providers will receive Awards, to grant Awards and to set all terms and conditions of Awards (including, but not limited to, vesting, exercise and forfeiture provisions). In addition, the Administrator shall have the
authority to take all actions and make all determinations contemplated by the Plan and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Administrator may correct any
defect or ambiguity, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem necessary or appropriate to carry the Plan and any Awards into effect, as determined by the Administrator.
The Administrator shall make all determinations under the Plan in the Administrator’s sole discretion and all such determinations shall be final and binding on all persons having or claiming any interest in the Plan or in any Award. 

3.2    Appointment of Committees. To the extent permitted by Applicable Laws and the Sixth Amended and
Restated Memorandum and Articles of Association of the Company (as may be further amended and/or restated from time to time, the “Articles”), the Board may delegate any or all of its powers under the Plan to one or more Committees.
The Board may abolish any Committee at any time and re-vest in itself any previously delegated authority. 

ARTICLE IV. 
 SHARES
AVAILABLE FOR AWARDS 
 4.1    Number of Shares. Subject to Article VIII, the maximum aggregate number
of Shares which may be issued pursuant to all Awards shall be 10,760,513 Ordinary Shares; provided that the maximum number of Shares may be issued pursuant to Awards in the form of Restricted Share Units under this Plan shall not exceed 7,686,081
Ordinary Shares. If any Award expires or lapses or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part, in any case in a manner that results in any Ordinary Shares covered by such Award not
being issued or being so reacquired by the Company, the unused Ordinary Shares covered by such Award shall again be available for the grant of Awards under the Plan. 

  
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 4.2    Shares Distributed. Any Shares distributed pursuant to an
Award may consist in whole or in part, of authorized and unissued Shares, treasury Shares (subject to Applicable Laws) or Shares purchased on the open market. Additionally, at the discretion of the Administrator, any Shares distributed pursuant to
an Award may be represented by American Depository Shares. 
 ARTICLE V. 

SHARE OPTIONS 

5.1    General. The Administrator may grant Options to any Service Provider. Each Option covers one Ordinary Share.
The exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including, without limitation, conditions relating to Applicable Laws, as it considers necessary or advisable. 

5.2    Exercise Price. The exercise price per Share subject to an Option shall be determined by the Administrator
and set forth in the Award Agreement which may be a fixed price or a variable price related to the Fair Market Value of the Shares. The exercise price per Share subject to an Option may be amended or adjusted in the absolute discretion of the
Administrator, the determination of which shall be final, binding and conclusive. For the avoidance of doubt, to the extent not prohibited by Applicable Laws or any exchange rule, a downward adjustment of the exercise prices of Options mentioned in
the preceding sentence shall be effective without the approval of the Company’s shareholders or the approval of the affected Service Providers. 

5.3    Duration of Options. Each Option shall be exercisable at such times and subject to such terms and
conditions as the Administrator may specify, provided that the term of any Option shall not exceed ten years. 

5.4    Vest Schedule for Options. Subject to the Plan, the Options shall vest in 4 years in accordance with the
following schedule, unless otherwise determined by the Administrator: 
 (a)    a vesting of twenty five percent (25%)
of the Option on the first (1st) anniversary of the Adoption Date; 

(b)    a vesting of twenty five percent (25%) of the Option on the second
(2nd) anniversary of the Adoption Date; 
 (c)    a vesting of
twenty five percent (25%) of the Option on the third (3rd) anniversary of the Adoption Date; and 

(d)    a vesting of the remaining twenty five percent (25%) of the Option on the fourth (4th) anniversary of the Adoption Date. 
 5.5    Performance
Conditions of Vesting. No performance conditions shall be set for Options, unless the Administrator otherwise determined. 

5.6    Exercise of Option. Options may be exercised by delivery to the Company of a written notice of exercise, in
a form approved by the Administrator (which may be an electronic form), signed by the person authorized to exercise the Option, together with payment in full (i) as specified in Section 5.6 hereof for the number of shares for which the
Option is exercised and (ii) as specified in Section 9.5 hereof for any applicable withholding taxes. Unless otherwise determined by the Administrator, an Option may not be exercised for a fraction of an Ordinary Share. 

  
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 5.7    Payment Upon Exercise. The Administrator shall determine
the methods by which the exercise price of an Option may be paid, the form of payment, including, without limitation (i) cash or check denominated in U.S. Dollars, (ii) to the extent permissible under the Applicable Laws, cash or check in
Chinese Renminbi, (iii) cash or check denominated in any other local currency as approved by the Administrator, (iv) Shares held for such period of time as may be required by the Administrator in order to avoid adverse financial accounting
consequences and having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion thereof, (v) after the trading date the delivery of a notice that the Participant has placed a market
sell order with a broker with respect to shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price;
provided that payment of such proceeds is then made to the Company upon settlement of such sale, (vi) other property acceptable to the administrator with a Fair Market Value equal to the exercise price, or (vii) any combination of the
foregoing. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a member of the Board or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be
permitted to pay the exercise price of an Option in any method which would violate Section 13(k) of the Exchange Act. 

5.8    ISO. ISO may be granted to employees of the Company or a subsidiary of the Company. ISO may not be granted
to employees of a related entity or to independent directors or consultants. The terms of any ISO granted pursuant to the Plan, in addition to the requirements of Section 5, must comply with the following additional provisions of this
Section 5.8: 
 (a)    Individual Dollar Limitation. The aggregate fair market value (determined as of the time the
Option is granted) of all Shares with respect to which ISOs are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other limitation as imposed by Section 422(d) of the Code, or any successor provision. To
the extent that ISOs are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Share Options. 

(b)    Exercise Price. The exercise price of an ISO shall be equal to the fair market value on the date of grant. However,
the exercise price of any ISO granted to any individual who, at the date of grant, owns Shares possessing more than ten percent of the total combined voting power of all classes of shares of the Company or any parent or subsidiary of the Company may
not be less than 110% of fair market value on the date of grant and such Option may not be exercisable for more than five years from the date of grant. 

(c)    Transfer Restriction. The Participant shall give the Company prompt notice of any disposition of Shares acquired by
exercise of an ISO within (i) two years from the date of grant of such ISO or (ii) one year after the transfer of such Shares to the Participant. 

(d)    Expiration of ISOs. No Award of an ISO may be made pursuant to this Plan after the tenth anniversary of the
Adoption Date. 
 (e)    Right to Exercise. During a Participant’s lifetime, an ISO may be exercised only by the
Participant. 
 ARTICLE VI. 

RESTRICTED SHARE UNITS 

6.1    General. The Administrator may grant Restricted Share Units to any Service Provider, subject to the right of
the Company to require forfeiture of such shares as issued at no cost in the event that conditions specified by the Administrator in the applicable Award Agreement are not satisfied prior to the end of the applicable restriction period or periods
established by the Administrator for such Award. 

  
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 6.2    Vest Schedule for Restricted Share Unit Award. The
Administrator may, in connection with the grant of Restricted Share Units, condition the vesting thereof upon the continued service of the Participant, upon the Participant’s performance of duties, upon the attainment of specified Performance
Conditions during an applicable period or upon any other basis determined by the Administrator in its sole discretion. An Award of Restricted Share Units shall be settled as and when the Restricted Share Units vest or at a later time specified by
the Administrator or in accordance with an election of the Participant, if the Administrator so permits. Except as otherwise set forth in an Award Agreement for Restricted Share Units, prior to the settlement of a Restricted Share Unit Award in
Shares (including Restricted Shares), a Participant shall have no rights as a shareholder of the Company with respect to the Shares subject to such Award; provided, however, that the Award Agreement may specify whether the Participant shall be
entitled to receive dividend equivalents, and, if determined by the Administrator, interest on, or the deemed reinvestment of, any deferred dividend equivalents, with respect to the number of Shares subject to the Award of Restricted Stock Units,
provided that any dividend equivalents with respect to Restricted Stock Units subject to performance-based vesting conditions shall be subject to the same vesting conditions as the underlying award. Subject to the Plan, any Restricted Share Units
granted to a Participant under this Plan shall vest in according with the following schedule, unless otherwise determined by the Administrator: 
  

	 	(a)	 1/3 of the awarded Restricted Share Units shall vest based on following time attribution:

  

	 	i.	 a vesting of twenty five percent (25%) of the time attribution based Restricted Share Units on the first (1st) anniversary of the Adoption Date; 

  

	 	ii.	 a vesting of twenty five percent (25%) of the time attribution based Restricted Share Units on the second (2nd) anniversary of the Adoption Date; 

  

	 	iii.	 a vesting of twenty five percent (25%) of the time attribution based Restricted Share Units on the third (3rd)
anniversary of the Adoption Date; and 

  

	 	iv.	 a vesting of the remaining twenty five percent (25%) of the time attribution based Restricted Share Units on
the fourth (4th) anniversary of the Adoption Date. 

  

	 	(b)	 1/3 of the awarded Restricted Share Units shall vest based on the Company’s weighted average market value
during the last 30 days prior to the Initial Vesting Date, the terms and conditions of which are set forth in the Award Agreement. 

For the avoidance of doubt, in the event that dilution of additional share issuance occurs, the market value targets herein shall be adjusted
accordingly with the proportion of additional share issuance. In the event that the average market value of SP500 falls by more than 20% from the date of grant, it shall be deemed as a decline of the market, and the Administrator shall adjust the
vesting schedule as appropriate. 
  

	 	(c)	 1/3 of the awarded Restricted Share Units shall vest based on the Performance Conditions:

  

	 	i.	 a vesting of twenty percent (20%) of the Performance Conditions based Restricted Share Units if one (1) of
the Performance Conditions has been met at the Initial Vesting Date; 

  

	 	ii.	 a vesting of forty percent (40%) of the Performance Conditions based Restricted Share Units if two (2) of
the Performance Conditions have been met at the Initial Vesting Date; 

  

	 	iii.	 a vesting of sixty percent (60%) of the Performance Conditions based Restricted Share Units if three
(3) of the Performance Conditions have been met at the Initial Vesting Date; 

  

	 	iv.	 a vesting of eighty percent (80%) of the Performance Conditions based Restricted Share Units if four
(4) of the Performance Conditions have been met at the Initial Vesting Date; and 

  
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	 	v.	 a vesting of all of the Performance Conditions based Restricted Share Units if more than five (5) of the
Performance Conditions have been met at the Initial Vesting Date. 

 6.3    Accelerated
Vesting. Notwithstanding the foregoing, if the Company’s weighted average market value during the last 30 days prior to the Initial Vesting Date reaches US$2 billion or above, and to the extent such Restricted Share Units have been
granted and outstanding, any such Restricted Share Unit (except for those are based on time attribution) shall vest in full with immediate effect, inure to the benefit of the related Participants. 

6.4    Special Awards. Subject to Section 4.1, up to 1,446,875 Shares may be issued in the form of Restricted
Share Units to eligible Participants that the Administrator determined appropriate with immediate effect of being fully vested. 

6.5    Forfeiture/Repurchase. Except as otherwise determined by the Administrator at the time of the grant of the
Award or thereafter, upon the Initial Vesting Date, any unvested Restricted Share Units other than those based on time attribution shall be forfeited or repurchased in accordance with the Award Agreement; provided, however, the Administrator may
(a) provide in any Award Agreement that restrictions or forfeiture and repurchase conditions relating to Restricted Share Units will be waived in whole or in part in the event of terminations resulting from specified causes, and (b) in
other cases waive in whole or in part restrictions or forfeiture and repurchase conditions relating to Restricted Share Units. 
  

	 	6.6	 Additional Provisions Relating to Restricted Share Units. 

(a)    Settlement. Upon the vesting of a Restricted Share Unit, the Participant shall be entitled to receive from
the Company one Ordinary Share on the settlement date. 
 (b)    Voting Rights. A Participant shall have no
voting rights with respect to any Restricted Share Units unless and until shares are delivered in settlement thereof. 

(c)    Dividend Equivalents. To the extent provided by the Administrator, a grant of Restricted Share Units may
provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, may be settled in cash and/or Ordinary Shares and may be subject to the same restrictions
on transfer and forfeitability as the Restricted Share Units with respect to which the Dividend Equivalents are paid, as determined by the Administrator. 

ARTICLE VII. 
 OTHER
SHARE-BASED AWARDS. 
 Other Share-Based Awards may be granted hereunder to Participants, including, without limitation, Awards
entitling Participants to receive Ordinary Shares to be delivered in the future. Such Other Share- Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan, as stand-alone payments and/or as
payment in lieu of compensation to which a Participant is otherwise entitled. Other Share-Based Awards may be paid in Ordinary Shares, cash or other property, as the Administrator shall determine. Subject to the provisions of the Plan, the
Administrator shall determine the terms and conditions of each Other Share-Based Award, including, without limitation, any purchase price, transfer restrictions, vesting conditions and other terms and conditions applicable thereto. 

  
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 ARTICLE VIII. 

ADJUSTMENTS FOR CHANGES IN ORDINARY SHARES AND CERTAIN OTHER EVENTS. 

8.1    Certain Transactions or Events. In the event that the Administrator determines that any dividend or other
distribution (whether in the form of cash, Ordinary Shares, other securities, or other property), reorganization, merger, consolidation, combination, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other
disposition of assets of the Company, or sale or exchange of Ordinary Shares or other securities of the Company, or other similar corporate transaction or event, as determined by the Administrator, affects the Ordinary Shares such that an adjustment
is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any Award, then the Administrator
may, in such manner as it may deem equitable, adjust any or all of: 
 (a)    the number and kind of Ordinary Shares (or
other securities or property) with respect to which Awards may be granted or awarded; 
 (b)    the number and kind of
Ordinary Shares (or other securities or property) subject to outstanding Awards; 
 (c)    the grant or exercise price
with respect to any Award; and 
 (d)    the terms and conditions of any Awards (including, without limitation, any
applicable financial or other performance “targets” specified in an Award Agreement). 

8.2    Miscellaneous. Except as expressly provided in the Plan or pursuant to action of the Administrator under the
Plan, no Participant shall have any rights by reason of any subdivision or consolidation of shares of any class, the payment of any dividend, any increase or decrease in the number of shares of any class or any dissolution, liquidation, merger, or
consolidation of the Company or any other corporation. Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of any class, or securities convertible into shares of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of Ordinary Shares subject to an Award or the grant or exercise price of any Award. The existence of the Plan, any Award Agreements and the Awards
granted hereunder shall not affect or restrict in any way the right or power of the Company to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business,
(ii) any merger, consolidation dissolution or liquidation of the Company or sale of Company assets or (iii) any sale or issuance of securities, including, without limitation, securities with rights superior to those of the Ordinary Shares
or which are convertible into or exchangeable for the Ordinary Shares. The Administrator may treat Participants and Awards (or portions thereof) differently under this Article VIII. 

ARTICLE IX. 
 GENERAL
PROVISIONS APPLICABLE TO AWARDS. 
 9.1    Transferability. Except as the Administrator may otherwise
determine or provide in an Award Agreement or otherwise, in any case in accordance with Applicable Laws, Awards, including any interest therein, may not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in
the context, shall include references to authorized transferees. 
 9.2    Documentation. Each Award shall be
evidenced in an Award Agreement, which may be in such form (written, electronic or otherwise) as the Administrator shall determine. Each Award may contain terms and conditions in addition to those set forth in the Plan. 

  
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 9.3    Discretion. Except as otherwise provided by the Plan, each
Award may be made alone or in addition or in relation to any other Award. The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly. 

9.4    Lapse of Options and Restricted Share Unit. 

(a)    Lapse for Death or Illness; if a Participant cease to be a Service Provider by reason of (i) the
Participant’s death, or (ii) the Participant’s serious illness or injury which, in the opinion of the Board, renders the Participant concerned unfit to perform the duties of his or her employment or engagement and which in the normal
course would render the Participant unfit to continue performing the duties under his or her contract provided such illness or injury is not self-inflicted or as a result of alcohol or drug abuse; then any unvested Option and Restricted Share Unit
will immediately lapse and the Participant or his or her personal representatives (if appropriate) may exercise all his or her vest options within six (6) months after the event above-mentioned occurs. 

(b)    Lapse on Termination for Cause; if a Participant cease to be a Service Provider by any of the following reason:
(i) any act of grave misconduct or willful default or willful neglect in the discharge of duties of the Participant with the Company; (ii) without prejudice to the generality of (i) above, being proven to have carried out any
fraudulent activity or have fraudulently failed to carry out any activity whether or not in connection with the affairs of the Company; (iii) being convicted of any offence; (iv) being proved to take advantages of such Participant’s
position to make interest for him/herself or for others; (v) being proved to appropriate assets of the Company; (vi) serious violation or persistent breach of any terms of the employment agreement, the confidentiality and intellectual
property rights assignment agreement, the non-compete and non-solicitation agreement, the anti-bribery agreement or any other agreements entered into by and between such
Participant and any member of the Company; (vii) repeated drunkenness or use of illegal drugs or being addicted to gambling which adversely interferes with or is reasonably expected to adversely interfere with the performance of such
Participant’s obligations and duties of employment or engagement; and (iii) any other conduct which, as the Administrator determines in good faith, would justify the termination of his or her Contract, then any unvested Option and
Restricted Share Unit will immediately lapse and the Administrator may resolve the same to any vested Option and Restricted Share Unit in its sole discretion. 

(c)    Lapse on Cessation for Other Reason; If a Participant ceases to be a Service Provider for any reason other than
those set up in paragraph (a) or (b), then any unvested Option and Restricted Share Unit will immediately lapse and the Participant or his or her personal representatives (if appropriate) may exercise all his or her vested Options within 30
days after the cessation, or such longer period as the Administrator may otherwise determine. 

9.5    Withholding. Each Participant shall pay to the Company, or make provision satisfactory to the
Administrator for payment of, and authorize the Company (and/or the Company’s parent or subsidiary company employing or retaining the Participant), to the extent determined appropriate by the Administrator and permissible under Applicable Law,
to withhold from the Participant’s wages or other cash compensation payable to the Participant by the Company (and/or the Company’s parent or subsidiary company employing or retaining the Participant), any taxes required by law to be
withheld in connection with Awards to such Participant no later than the date of the event creating the tax liability. Except as the Administrator may otherwise determine, all such payments shall be made in cash, by wire transfer of immediately
available funds or by certified check. Notwithstanding the foregoing, Participants may satisfy such tax obligations by (i) to the extent permitted by the Administrator, in whole or in part by delivery of Shares, including Shares retained from
the Award creating the tax obligation, valued at their Fair Market Value, and (ii) if there is a public market for Shares at the time the tax obligations are satisfied, unless the Administrator otherwise determines, (A) delivery
(including, without limitation, telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the tax
obligations, or (B) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to satisfy the tax
withholding; provided that such amount is paid to the Company at such time as may be required by the Administrator. The Company may, to the extent permitted by Applicable Laws, deduct any such tax obligations based on applicable withholding rates
from any payment of any kind otherwise due to a Participant. 

  
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 9.6    Amendment of Award. The Administrator may amend,
modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or settlement. 

9.7    Conditions on Delivery of Shares. The Company will not be obligated to deliver any Ordinary Shares pursuant
to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all
other legal matters in connection with the issuance and delivery of such shares have been satisfied, including, without limitation, any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and
(iii) the Participant has executed and delivered to the Company such representations or agreements as the Administrator deems necessary or appropriate to satisfy the requirements of any Applicable Laws. The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is determined by the Administrator to be necessary to the lawful issuance and sale of any securities hereunder, shall relieve the Company of any liability in respect of the
failure to issue or sell such shares as to which such requisite authority shall not have been obtained. 

9.8    Acceleration. The Administrator may at any time provide that any Award shall become vested and/or
exercisable in full or in part, free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be. 

ARTICLE X. 

MISCELLANEOUS. 

10.1    No Right To Employment or Other Status. No person shall have any claim or right to be granted an Award, and
the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its
relationship with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an applicable Award Agreement. 

10.2    No Rights As Shareholder; Certificates. Subject to the provisions of the applicable Award Agreement, no
Participant or Designated Beneficiary shall have any rights as a shareholder with respect to any Ordinary Shares to be distributed with respect to an Award until becoming the record holder of such shares. Notwithstanding any other provision of the
Plan, unless otherwise determined by the Administrator or required by any Applicable Laws, the Company shall not be required to deliver to any Participant certificates evidencing Ordinary Shares issued in connection with any Award and instead such
Ordinary Shares may be recorded in the books of the Company (or, as applicable, its transfer agent or share plan administrator). The Company may place legends on share certificates issued under the Plan deemed necessary or appropriate by the
Administrator in order to comply with Applicable Laws. 
 10.3    Effective Date and Term of Plan. The Plan shall
become effective on the date on which it is adopted by the Board. No Awards shall be granted under the Plan after the completion of ten years from the date on which the Plan was adopted by the Board. 

  
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 10.4    Amendment of Plan. At any time and from time to time, the
Board may terminate, amend or modify the Plan; provided, however, that (a) to the extent necessary and desirable to comply with Applicable Laws or stock exchange rules, the Company shall obtain shareholder approval of any Plan amendment in such
a manner and to such a degree as required, unless the Company decides to follow home country practice, and (b) unless the Company decides to follow home country practice, shareholder approval is required for any amendment to the Plan that
(i) increases the number of Shares available under the Plan (other than any adjustment as provided by Article VIII), or (ii) permits the Committee to extend the term of the Plan or the exercise period for an Option beyond ten years from
the date of grant. 
 10.5    Limitations on Liability. Notwithstanding any other provisions of the Plan, no
individual acting as a director, officer, other employee or agent of the Company will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with
the Plan or any Award, nor will such individual be personally liable with respect to the Plan because of any contract or other instrument he or she executes in his or her capacity as an Administrator, director, officer, other employee or agent of
the Company. The Company will indemnify and hold harmless each director, officer, other employee and agent of the Company to whom any duty or power relating to the administration or interpretation of the Plan has been or will be granted or
delegated, against any cost or expense (including, without limitation, attorneys’ fees) or liability (including, without limitation, any sum paid in settlement of a claim with the Administrator’s approval) arising out of any act or
omission to act concerning this Plan unless arising out of such person’s own fraud or bad faith. 
 10.6    Data
Privacy. As a condition of receipt of any Award, each Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this paragraph by and among, as
applicable, the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan. The Company and its subsidiaries and affiliates may hold certain
personal information about a Participant, including but not limited to, the Participant’s name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job
title(s), any shares held in the Company or any of its subsidiaries and affiliates, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the “Data”). The
Company and its subsidiaries and affiliates may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of a Participant’s participation in the Plan, and the Company and its
subsidiaries and affiliates may each further transfer the Data to any third parties assisting the Company in the implementation, administration and management of the Plan. These recipients may be located in the Participant’s country, or
elsewhere, and the Participant’s country may have different data privacy laws and protections than the recipients’ country. Through acceptance of an Award, each Participant authorizes such recipients to receive, possess, use, retain and
transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in the Plan, including, without limitation, any requisite transfer of such Data as may be required to a
broker or other third party with whom the Company or the Participant may elect to deposit any Ordinary Shares. The Data related to a Participant will be held only as long as is necessary to implement, administer, and manage the Participant’s
participation in the Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend
any necessary corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting his or her local human resources representative. The Company may cancel
Participant’s ability to participate in the Plan and, in the Administrator’s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws his or her consents as described herein. For more
information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative. 

  
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 10.7    Severability. In the event any portion of the Plan or any
action taken pursuant thereto shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had
not been included, and the illegal or invalid action shall be null and void. 
 10.8    Governing Documents. In
the event of any contradiction between the Plan and any Award Agreement or any other written agreement between a Participant and the Company or any Subsidiary of the Company that has been approved by the Administrator, the terms of the Plan shall
govern, unless it is expressly specified in such Award Agreement or other written document that a specific provision of the Plan shall not apply. 

10.9    Submission to Jurisdiction. By accepting an Award, each Participant irrevocably and unconditionally
consents to submit to the exclusive jurisdiction of the courts of New York, for any action arising out of or relating to the Plan (and agrees not to commence any litigation relating thereto except in such courts), and further agrees that service of
any process, summons, notice or document by registered mail to the address contained in the records of the Company shall be effective service of process for any litigation brought against it in any such court. By accepting an Award, each Participant
irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of Plan or Award hereunder in the courts of New York, and further irrevocably and unconditionally waives and agrees not to plead or claim in
any such court that any such litigation brought in any such court has been brought in an inconvenient forum. By accepting an Award, each Participant irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and
all rights to trial by jury in connection with any litigation arising out of or relating to the Plan or any Award hereunder. 

10.10    Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and
interpreted in accordance with the laws of the Cayman Islands. 
 10.11    Conformity to Securities Laws.
Participant acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission
thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan and all Awards granted hereunder shall be administered only in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by Applicable Laws, the Plan and all Award Agreements shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 

ARTICLE XI. 

DEFINITIONS. AS USED IN THE PLAN, THE FOLLOWING WORDS AND PHRASES SHALL 

HAVE THE FOLLOWING MEANINGS: 

11.1    “Adoption Date” means July 15, 2020. 

11.2    “Administrator” means the Board or a Committee to the extent that the Board’s powers
or authority under the Plan have been delegated to such Committee. 
 11.3    “Applicable Laws”
means legal requirements relating to the Plan and the Awards under applicable provisions of the corporate, securities, tax and other laws, rules, regulations and government orders, and the rules of any applicable stock exchange or national market
system, of any jurisdiction applicable to Awards granted to residents therein.. 

11.4    “Award” means, individually or collectively, a grant under the Plan of Options, Restricted
Shares, Restricted Share Units or Other Share-Based Awards. 

  
 10 / 12 

 11.5    “Award Agreement” means a written
agreement evidencing an Award, which agreements may be in electronic medium and shall contain such terms and conditions with respect to an Award as the Administrator shall determine, consistent with and subject to the terms and conditions of the
Plan. 
 11.6    “Board” means the Board of Directors of the Company. 

11.7    “Committee” means one or more committees or subcommittees of the Board or the Company,
which may be comprised of one or more directors and/or executive officers of the Company, in either case, to the extent permitted in accordance with Applicable Laws. 

11.8    “Company” means I-Mab (Cayman), an exempted
company organized under the Laws of the Cayman Islands, or any successor thereto. 

11.9    “Consultant” means any consultant or adviser if: (a) the consultant or adviser
renders bona fide services to the Company; (b) the services rendered by the consultant or adviser are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain
a market for the Company’s securities; and (c) the consultant or adviser is a natural person who has contracted directly with the Service Recipient to render such services. For the avoidance of doubt, each member of the scientific advisory
board of the Company is a Consultant. 
 11.10    “Director” means a member of the Board. 

11.11    “Employee” means any person, including, without limitation, officers and Directors,
employed by the Company or any parent or subsidiary of the Company. 
 11.12    “Exchange Act”
means the U.S. Securities Exchange Act of 1934, as amended. 
 11.13    “Fair Market Value”
means, as of any date, the value of Share determined as follows: 
 (a)    If the Shares are listed on one or more
established stock exchanges or national market systems, including without limitation, the New York Stock Exchange or the NASDAQ Stock Market, its Fair Market Value shall be the closing sales price for such shares (or the closing bid, if no sales
were reported) as quoted on the principal exchange or system on which the Shares are listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on
the last trading date such closing sales price or closing bid was reported), as reported on the website maintained by such exchange or market system or such other source as the Administrator deems reliable; or 

(b)    In the absence of an established market for the Shares of the type described in (a) above, the Fair Market
Value thereof shall be determined by the Administrator in good faith and in its discretion by reference to (i) the placing price of the latest private placement of the Shares and the development of the Company’s business operations and the
general economic and market conditions since such latest private placement, (ii) other third party transactions involving the Shares and the development of the Company’s business operation and the general economic and market conditions
since such transaction, (iii) an independent valuation of the Shares, or (iv) such other methodologies or information as the Administrator determines to be indicative of Fair Market Value. 

 

	 	11.14	 “Incentive Stock Option” or “ISO” means an Option that is
intended to meet the requirements of Section 422 of the Code or any successor provision thereto. 

  
 11 / 12 

	 	11.15	 “Initial Vesting Date” means the first (1st) anniversary of the Adoption Date. 

  

	 	11.16	 “Non-Qualified Share Options” means an Option
that is not intended to be an Incentive Share Option. 

 11.17    “Option”
means an option to purchase Ordinary Shares. An Option may be either an Incentive Stok Option or a Non-Qualified Share Option. 

 

	 	11.18	 “Ordinary Shares” means the ordinary shares of the Company. 

11.19    “Other Share-Based Awards” means other Awards of Ordinary Shares, and other Awards that
are valued in whole or in part by reference to, or are otherwise based on, Ordinary Shares or other property. 
  

	 	11.20	 “Participant” means a Service Provider who has been granted an Award under the Plan.

 11.21    “Performance Conditions” means the criteria and objectives, as
established by the Board, which shall be satisfied or met to measure the grant or exercisability of all or a portion of an Restricted Share Unit during the applicable period under this Plan. In the sole discretion of the Board, the Board may amend
or adjust the Performance Conditions or other terms and conditions of an outstanding award in recognition of any adjustment events. 

11.22    “Restricted Share Unit” means an unfunded, unsecured right to receive, on the
applicable settlement date, one Ordinary Share or an amount in cash or other consideration determined by the Administrator equal to the value thereof as of such payment date, which right may be subject to certain vesting conditions and other
restrictions. 
 11.23    “Securities Act” means the U.S. Securities Act of 1933, as amended
from time to time. 
  

	 	11.24	 “Service Provider” means an Employee, Consultant or Director. 

 

	 	11.25	 “Termination of Service” means the date the Participant ceases to be a Service
Provider. 

 * * * 

  
 12 / 12Exhibit 4.1

  PLACEMENT AGENCY AGREEMENT

  

  

  July 12, 2020

  

  
    Castor Maritime Inc.

    223 Christodoulou Chatzipavlou Street

    Hawaii Royal Gardens

  

  3036 Limassol, Cyprus

   

  

  	Attention:	
          Petros Panagiotidis

            Chairman, Chief Executive Officer and Chief Financial Officer

        

   

  

  Dear Mr. Panagiotidis:

   

  This agreement (the “Agreement”) constitutes the agreement between Maxim Group LLC (the “Placement Agent”) and Castor
    Maritime Inc., a company incorporated under the laws of the Republic of the Marshall Islands (the “Company”), pursuant to which the Placement Agent shall serve as the exclusive placement agent for the Company, on
    a “reasonable best efforts” basis, in connection with the proposed placement (the “Placement”) of a to be determined number of registered common share of the Company, par value $0.001 per share (the “Common Shares”, with the Common Shares offered in the Placement being referred to as the “Shares”) and (ii) unregistered warrants, each entitling the holder thereof to purchase
    one Common Share (the “Warrants”, and collectively with the Shares, the “Securities”).  The terms of the Placement and the Securities shall be mutually agreed upon by the
    Company and the purchasers (each, a “Purchaser” and collectively, the “Purchasers”) and nothing herein constitutes that the Placement Agent would have the power or
    authority to bind the Company or any Purchaser or an obligation for the Company to issue any Securities or complete the Placement.  This Agreement and the documents executed and delivered by the Company and the Purchasers in connection with the
    Placement, including but not limited to the Purchase Agreement (as defined below), the form of Warrant and this Agreement shall be collectively referred to herein as the “Transaction Documents.”  The date of the closing of the Placement shall be referred to herein as the “Closing Date.”  The Company expressly acknowledges and agrees that the Placement Agent’s obligations hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a
    commitment by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the
    Company. Following the prior written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement.  The sale of the Securities to any Purchaser
    will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser in a form reasonably acceptable to the Company and
    the Placement Agent.  Capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement.  Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer
    inquiries from prospective Purchasers.

   

  SECTION 1.        REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.

  

  

   A.          Representations of the Company.  Each of the representations and warranties (together with any related disclosure schedules thereto) and covenants made by the Company to the
    Purchasers in the Purchase Agreement in connection with the Placement is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of the Closing Date, hereby made to,
    and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that:

  
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     1.          The Company has prepared and filed with the Commission a registration statement on Form F-3 (Registration No. 333-232052), and amendments thereto, and related preliminary prospectuses,
    for the registration under the Securities Act of 1933, as amended (the “Securities Act”), of the Securities, which registration statement, as so amended (including post-effective amendments, if any) became
    effective on June 21, 2019.  At the time of such filing, the Company met the requirements of Form F-3 under the Securities Act. Such registration statement meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act and complies with
    said Rule. The Company will file with the Commission pursuant to Rule 424(b) under the Securities Act, and the rules and regulations (the “Rules and Regulations”) of the Commission promulgated thereunder, a
    supplement to the form of prospectus included in such registration statement relating to the placement of the Securities and the plan of distribution thereof and has advised the Placement Agent of all further information (financial and other) with
    respect to the Company required to be set forth therein. Such registration statement, including the exhibits thereto, as amended at the date of this Agreement, is hereinafter called the “Registration Statement”;
    such prospectus in the form in which it appears in the Registration Statement is hereinafter called the “Base Prospectus”; and the supplemented form of prospectus, in the form in which it will be filed with the
    Commission pursuant to Rule 424(b) (including the Base Prospectus as so supplemented) is hereinafter called the “Prospectus Supplement.” Any reference in this Agreement to the Registration Statement, the Base
    Prospectus or the Prospectus Supplement shall be deemed to refer to and include the documents incorporated by reference therein (the “Incorporated Documents”) pursuant to Item 6 of Form F-3 which were filed under
    the Exchange Act on or before the date of this Agreement, or the issue date of the Base Prospectus or the Prospectus Supplement, as the case may be; and any reference in this Agreement to the terms “amend,” “amendment” or “supplement” with respect to
    the Registration Statement, the Base Prospectus or the Prospectus Supplement shall be deemed to refer to and include the filing of any document under the Exchange Act after the date of this Agreement, or the issue date of the Base Prospectus or the
    Prospectus Supplement, as the case may be, deemed to be incorporated therein by reference. All references in this Agreement to financial statements and schedules and other information which is “contained,” “included,” “described,” “referenced,” “set
    forth” or “stated” in the Registration Statement, the Base Prospectus or the Prospectus Supplement (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information which is
    or is deemed to be incorporated by reference in the Registration Statement, the Base Prospectus or the Prospectus Supplement, as the case may be. No stop order suspending the effectiveness of the Registration Statement or the use of the Base Prospectus
    or the Prospectus Supplement has been issued, and no proceeding for any such purpose is pending or has been initiated or, to the Company's knowledge, is threatened by the Commission. For purposes of this Agreement, “free

      writing prospectus” has the meaning set forth in Rule 405 under the Securities Act and the “Time of Sale Prospectus” means the preliminary prospectus, if any, together with the free writing prospectuses,
    if any, used in connection with the Placement, including any documents incorporated by reference therein.

   

     2.          The Registration Statement (and any further documents to be filed with the Commission) contains all exhibits and schedules as required by the Securities Act. Each of the Registration
    Statement and any post-effective amendment thereto, at the time it became effective, complied in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations and did not and, as amended or supplemented, if
    applicable, will 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 not misleading. The Base Prospectus, the Time of Sale Prospectus and the
    Prospectus Supplement, each as of its respective date, comply in all material respects with the Securities Act and the Exchange Act and the applicable Rules and Regulations. Each of the Base Prospectus, the Time of Sale Prospectus and the Prospectus
    Supplement, as amended or supplemented, did not and will not contain as of the date thereof any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
    under which they were made, not misleading. The Incorporated Documents, when they were filed with the Commission, conformed in all material

  
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  respects to the requirements of the Exchange Act and the applicable Rules and Regulations, and none of such documents, when they were filed with the Commission, contained any untrue statement of a material fact or
    omitted to state a material fact necessary to make the statements therein (with respect to Incorporated Documents incorporated by reference in the Base Prospectus or Prospectus Supplement), in the light of the circumstances under which they were made
    not misleading; and any further documents so filed and incorporated by reference in the Base Prospectus, the Time of Sale Prospectus or Prospectus Supplement, when such documents are filed with the Commission, will conform in all material respects to
    the requirements of the Exchange Act and the applicable Rules and Regulations, as applicable, and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the
    circumstances under which they were made, not misleading. No post-effective amendment to the Registration Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental change in
    the information set forth therein is required to be filed with the Commission. There are no documents required to be filed with the Commission in connection with the transaction contemplated hereby that (x) have not been filed as required pursuant to
    the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required to be described in the Base Prospectus, the Time of Sale Prospectus or Prospectus Supplement, or to be filed as exhibits or
    schedules to the Registration Statement, which (x) have not been described or filed as required or (y) will not be filed within the requisite time period.

  

  

     3.          The Company is eligible to use free writing prospectuses in connection with the Placement pursuant to Rules 164 and 433 under the Securities Act. Any free writing prospectus that the
    Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and the applicable rules and regulations of the Commission
    thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or behalf of or used by the Company complies or will comply in all material respects
    with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. The Company will not, without the prior consent of the Placement Agent, prepare, use or refer to, any free writing prospectus.

  

  

     4.          There are no affiliations with any FINRA member firm among the Company's officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater stockholder of the
    Company, except as set forth in the Registration Statement and SEC Reports.

  

  

   B.          Covenants of the Company. The Company has delivered, or will as promptly as practicable deliver, to the Placement Agent complete conformed copies of the Registration Statement and
    of each consent and certificate of experts, as applicable, filed as a part thereof, and conformed copies of the Registration Statement (without exhibits), the Base Prospectus, the Time of Sale Prospectus and the Prospectus Supplement, as amended or
    supplemented, in such quantities and at such places as the Placement Agent reasonably requests. Neither the Company nor any of its directors and officers has distributed and none of them will distribute, prior to the Closing Date, any offering material
    in connection with the offering and sale of the Securities pursuant to the Placement other than the Base Prospectus, the Time of Sale Prospectus, the Prospectus Supplement, the Registration Statement, copies of the documents incorporated by reference
    therein and any other materials permitted by the Securities Act.

   

  SECTION 2.       REPRESENTATIONS OF THE PLACEMENT AGENT. The Placement Agent  represents and warrants that it (i) is a member in good standing of FINRA, (ii) is registered as a
    broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of the States applicable to the offers and sales of the Securities by such Placement Agent, (iv) is and will be a body corporate validly existing under the laws
    of its place of incorporation, and (v) has full power and authority to enter into and perform its obligations under this Agreement.  The Placement Agent will immediately

  

  

  
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  notify the Company in writing of any change in its status as such. The Placement Agent covenants that it will use its reasonable best efforts to conduct the Placement hereunder in compliance with the provisions of this
    Agreement and the requirements of applicable law.  

   

  SECTION 3.      COMPENSATION.  In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent or their respective designees their pro rata
    portion (based on the Securities placed) of the following compensation with respect to the Securities which they are placing:

  

  

   A.          A cash fee (the “Cash Fee”) equal to an aggregate of seven and one-half percent (7.5%) of the aggregate gross proceeds raised in the Placement.  The
    Cash Fee shall be paid at the Closing of the Placement.

  

  

   B.         Subject to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees, in case of Closing of the Placement, to reimburse the Placement Agent for all travel and other out-of-pocket
    expenses, including the reasonable fees, costs and disbursements of its legal counsel, in an amount not to exceed an aggregate of $50,000.00. The Company will reimburse Placement Agent directly out of the Closing of the Placement.

  

  

   C.          The Placement Agent reserves the right to reduce any item of its compensation or adjust the terms thereof as specified herein in the event that a determination shall be made by FINRA to
    the effect that such Placement Agent’s aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.

   

  SECTION 4.      INDEMNIFICATION. The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)

    attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or expiration of this Agreement.

   

  SECTION 5.      ENGAGEMENT TERM. The Placement Agent’s engagement hereunder shall be until the earlier of (i) the final closing date of the Placement and (ii) the date a party terminates
    the engagement according to the terms of the next sentence (such date, the “Termination Date” and the period of time during which this Agreement remains in effect is referred to herein as the “Term”).  Notwithstanding anything to the contrary contained herein, the provisions concerning confidentiality, indemnification and contribution contained herein and the Company’s obligations contained in the
    Indemnification Provisions will survive any expiration or termination of this Agreement. The Placement Agent each agree, severally and not jointly, not to use any confidential information concerning the Company provided to the Placement Agent by the
    Company for any purposes other than those contemplated under this Agreement.

   

  

  SECTION 6.      PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this engagement is for the confidential
    use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s prior written consent.

   

  SECTION 7.       NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except
    those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity
    holders or the creditors of the Company or any other person by virtue of

  
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  this Agreement or the retention of such Placement Agent hereunder, all of which are hereby expressly waived.

  

  

  SECTION 8.       CLOSING. The obligations of the Placement Agent, and the closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing
    Date, of the representations and warranties on the part of the Company and its Subsidiaries contained herein and in the Purchase Agreement, to the accuracy of the statements of the Company and its Subsidiaries made in any certificates pursuant to the
    provisions hereof, to the performance by the Company and its Subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement Agent
    by the Company:

   

   A.          No stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been initiated or threatened by the
    Commission, and any request for additional information on the part of the Commission (to be included in the Registration Statement, the Base Prospectus, the Prospectus Supplement or otherwise) shall have been complied with to the reasonable
    satisfaction of the Placement Agent. Any filings required to be made by the Company in connection with the Placement shall have been timely filed with the Commission.

  

  

   B.          The Placement Agent shall not have discovered and disclosed to the Company on or prior to the Closing Date that the Registration Statement, the Base Prospectus, the Prospectus Supplement
    or any amendment or supplement thereto contains an untrue statement of a fact which, in the opinion of counsel for the Placement Agent, is material or omits to state any fact which, in the opinion of such counsel, is material and is required to be
    stated therein or is necessary to make the statements therein not misleading.

  

  

   C.          All corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Securities, the Registration
    Statement, the Base Prospectus and the Prospectus Supplement and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Placement Agent,
    and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable them to pass upon such matters.

  

  

   D.          The Placement Agent shall have received from outside counsel to the Company such counsel’s written opinions, addressed to the Placement Agent and the Purchasers and dated as of the Closing
    Date, in form and substance reasonably satisfactory to the Placement Agent.

  

  

   E.         On the Closing Date, the Placement Agent shall have received a “comfort” letter from Deloitte Certified Public Accountants S.A. (the Company’s
      independent registered accounting firm) (“Deloitte”) as of each such date, addressed to each of the Placement Agent and in form and substance satisfactory in all respects to the Placement Agent and
    Placement Agent’s counsel.

  

  

   F.           On the Closing Date, Placement Agent shall have received a certificate of the chief financial officer of the Company, dated, as applicable, as of the date of such Closing, to the effect
    that, as of the date of this Agreement and as of the applicable date, the representations and warranties of the Company contained herein and in the Purchase Agreement were and are accurate in all material respects, except for such changes as are
    contemplated by this Agreement and except as to representations and warranties that were expressly limited to a state of facts existing at a time prior to the applicable Closing Date, and that, as of the applicable date, the obligations to be performed
    by the Company hereunder on or prior thereto have been fully performed in all material respects.  Such officer shall also provide a customary certification as to such accounting or financial matters that are included or incorporated by reference in the
    Registration Statement or the Prospectus Supplement that Deloitte is unable to provide assurances on in the letter contemplated by Section 8(E) above.

  
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   G.        On the Closing Date, Placement Agent shall have received a certificate of the Secretary of the Company, dated, as applicable, as of the date of such Closing, certifying to the organizational
    documents, good standing in the state of incorporation of the Company and board resolutions relating to the Placement of the Securities from the Company.

  

  

   H.         Neither the Company nor any of its Subsidiaries (i) shall have sustained since the date of the latest audited financial statements included or incorporated by reference in the Registration
    Statement, the Base Prospectus and the Prospectus Supplement, any loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor dispute or court or
    governmental action, order or decree, otherwise than as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, (ii) since such date there shall not have been any change in the capital stock or
    long-term debt of the Company or any of its Subsidiaries or any change, or any development involving a prospective change, in or affecting the business, general affairs, management, financial position, stockholders' equity, results of operations or
    prospects of the Company and its Subsidiaries, otherwise than as set forth in or contemplated by the Registration Statement, the Base Prospectus and the Prospectus Supplement, and (iii) since such date there shall not have been any new or renewed
    inquiries by the Commission, FINRA or any other regulatory body regarding the Company, the effect of which, in any such case described in clause (i), (ii) or (iii), is, in the judgment of the Placement Agent, so material and adverse as to make it
    impracticable or inadvisable to proceed with the sale or delivery of the Securities on the terms and in the manner contemplated by the Base Prospectus, Time of Sale Prospectus and Prospectus Supplement.

  

  

   I.          The Common Shares are registered under the Exchange Act and, as of the Closing Date, the Securities shall, as is required by such Trading Market or the Transaction Documents, be listed and
    admitted and authorized for trading on the Trading Market or other applicable U.S. national exchange and satisfactory evidence of such action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely
    to have the effect of terminating the registration of the Common Shares under the Exchange Act or delisting or suspending from trading the Common Shares from the Trading Market or other applicable U.S. national exchange, nor has the Company received
    any information suggesting that the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.

  

  

   J.           No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing
    Date, prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or
    state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the
    Company.

  

  

   K.          The Company shall have prepared and filed with the Commission a Form 6-K with respect to the Placement, including as an exhibit thereto this Agreement, the form of Purchase Agreement and
    the form of Warrant.

  

  

   L.          The Company shall have entered into a Purchase Agreement with each of the Purchasers and such agreements shall be in full force and effect and shall contain representations, warranties and
    covenants of the Company as agreed between the Company and the Purchasers.

  

  

   M.          FINRA shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested by the Placement

  
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  Agent, make or authorize Placement Agent’s counsel to make on the Company’s behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110 with respect to the Placement and pay all filing
    fees required in connection therewith.

  

  

   N.          Prior to the Closing Date, the Company shall have furnished to the Placement Agent such further information, certificates and documents as the Placement Agent may reasonably request.

   

  If any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, or if any of the certificates, opinions, written statements or letters
    furnished to the Placement Agent or to Placement Agent’s counsel pursuant to this Section 8 shall not be reasonably satisfactory in form and substance to the Placement Agent and to Placement Agent’s counsel, all obligations of the Placement Agent
    hereunder may be cancelled by the Placement Agent at, or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter
    in writing.

   

  SECTION 9.      WAIVER OF LOCK-UP.  Reference is made to that certain Underwriting Agreement, dated June 23, 2020, between the Company and the Placement Agent (the “Underwriting Agreement”).  Solely for purposes of accommodating the financing by the Company contemplated by this Agreement (and for no other financing), the Placement Agent hereby waives the restriction provided for
    in Section 4.20(a) of the Underwriting Agreement.

   

  SECTION 10.    GOVERNING LAW; AGENT FOR SERVICE OF PROCESS, ETC. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to
    agreements made and to be performed entirely in such State, without regard to the conflicts of laws principles thereof. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall be
    binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith
    is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the Federal Court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby accepts for itself
    and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by
    delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement 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. The Company agrees that a final judgment in any such action, proceeding or counterclaim brought in any such court shall be
    conclusive and binding upon the Company and may be enforced in any other courts to the jurisdiction of which the Company is or may be subject, by suit upon such judgment.  If either party shall commence an action or proceeding to enforce any provisions
    of a Transaction Document, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or
    proceeding.  In addition to and without limiting the foregoing, the Company has confirms that it has appointed Seward & Kissel LLP, One Battery Park Plaza, New York, New York 10004, as its authorized agent (the “Authorized

      Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon the this Agreement or the Transaction Documents or the transactions contemplated herein which may be instituted in any New York federal or
    state court, by the Agent, the directors, officers, partners, employees and agents of the Agents and each affiliate of the Agent, and expressly accept the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding.
    The Company hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company agrees to take

  
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  any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force and effect as aforesaid. The Company hereby authorizes and directs the Authorized Agent
    to accept such service. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company. If the Authorized Agent shall cease to act as agent for service of process, the Company shall
    appoint, without unreasonable delay, another such agent in the United States, and notify you of such appointment. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by the Agent, the directors,
    officers, partners, employees and agents of the Agent and each respective affiliate of the Agent, in any court of competent jurisdiction in the Republic of the Marshall Islands.  This paragraph shall survive any termination of this Agreement, in whole
    or in part.

    

  SECTION 11.     ENTIRE AGREEMENT/MISC. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding between the parties hereto, and
    supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other
    respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both Placement Agent and the Company. The
    representations, warranties, agreements and covenants contained herein shall survive the closing of the Placement and delivery of the Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall be
    considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any
    signature is delivered by facsimile transmission or a .pdf format file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such
    facsimile or .pdf signature page were an original thereof.

   

  SECTION 12.    CONFIDENTIALITY.  The Placement Agent (i) will keep the Confidential Information (as such term is defined below) confidential and will not (except as
    required by applicable law or stock exchange requirement, regulation or legal process (“Legal Requirement”)), without the Company’s prior written consent, disclose to any person any Confidential Information, and
    (ii) will not use any Confidential Information other than in connection with the Placement.  The Placement Agent further agree, severally and not jointly, to disclose the Confidential Information only to its Representatives (as such term is defined
    below) who need to know the Confidential Information for the purpose of the Placement, and who are informed by the Placement Agent of the confidential nature of the Confidential Information. The term “Confidential
      Information” shall mean, all confidential, proprietary and non-public information (whether written, oral or electronic communications) furnished by the Company to a Placement Agent or its Representatives in connection with such Placement
    Agent’s evaluation of the Placement. The term “Confidential Information” will not, however, include information which (i) is or becomes publicly available other than as a result of a disclosure by a Placement Agent or its Representatives in violation
    of this Agreement, (ii) is or becomes available to a Placement Agent or any of its Representatives on a non-confidential basis from a third-party, (iii) is known to a Placement Agent or any of its Representatives prior to disclosure by the Company or
    any of its Representatives, or (iv) is or has been independently developed by a Placement Agent and/or the Representatives without use of any Confidential Information furnished to it by the Company. The term “Representatives” shall mean the Placement
    Agent’s directors, board committees, officers, employees, financial advisors, attorneys and accountants. This provision shall be in full force until the earlier of (a) the date that the Confidential Information ceases to be confidential and (b) two
    years from the date hereof.  Notwithstanding any of the foregoing, in the event that the Placement Agent or any of their respective Representatives are required by Legal Requirement to disclose any of the Confidential Information, such Placement Agent
    and their respective Representatives will furnish only that portion of the Confidential Information which such Placement Agent or their respective Representative, as

  
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  applicable, is required to disclose by Legal Requirement as advised by counsel, and will use reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the
    Confidential Information so disclosed.

  SECTION 13.     NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in
    writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a
    business day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time)
    on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such
    notices and communications shall be as set forth on the signature pages hereto.

  

  

  SECTION 14.    PRESS ANNOUNCEMENTS. The Company agrees that the Placement Agent shall, from and after any Closing, have the right to reference the Placement and the Placement Agent’ role
    in connection therewith in the Placement Agent’ marketing materials and on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.

   

  

  

  

  

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  Please confirm that the foregoing correctly sets forth our agreement by signing and returning to Maxim the enclosed copy of this Agreement.

   

  	
           

        	
          Very truly yours,

        
	
           

        	
           

        
	
           

        	
          MAXIM GROUP LLC

           

        
	
           

        	
           

        
	
           

        	
          By: 

        	
          /s/ Clifford A. Teller

        
	
           

        	
           

        	
          Name: Clifford A. Teller

        
	
           

        	
           

        	
          Title:    Executive Managing Director,

          Investment Banking

        
	 	 	 
	 	 	
          Address for notice:

          405 Lexington Avenue

          New York, NY 10174

          Attention: James Siegel, General Counsel

          Email: jsiegel@maximgrp.com

        
	
           

        	
           

        

  

  

  Accepted and Agreed to as of

  the date first written above:

   

  	
          CASTOR MARITIME INC.

           

        
	
           

        	 
	
          By: 

        	
          /s/ Petros Panagiotidis

        	
           

        
	
           

        	
          Name:  Petros Panagiotidis

        	
           

        
	
           

        	
          Title:   Chief Executive Officer

        	
           

        
	 	 	 
	 	
          Address for notice:

          Castor Maritime Inc.

          
            223 Christodoulou Chatzipavlou Street

            Hawaii Royal Gardens

          

          3036 Limassol, Cyprus

          Email: petrospan@castormaritime.com

        	 

   

  

  

  

  

  [Signature Page to July 12, 2020 Placement Agency Agreement Between

  Maxim Group LLC and Castor Maritime Inc.]

  
    
      

  

  
  ADDENDUM A

  INDEMNIFICATION PROVISIONS

   

  In connection with the engagement of Maxim Group LLC (the “Placement Agent”) by Castor Maritime Inc. (the “Company”) pursuant to a placement agency agreement dated as of the date hereof, between the
    Company and the Placement Agent, as it may be amended from time to time in writing (the “Agreement”), the Company hereby agrees as follows:

  

  

  1.          To the extent permitted by law, the Company will indemnify the Placement Agent and its affiliates, directors, officers, employees and controlling persons (within the meaning of Section 15
    of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including the reasonable fees and expenses of counsel), relating
    to or arising out of its activities hereunder or pursuant to the Agreement, except, with regard to the Placement Agent, to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found in a final
    judgment (not subject to appeal) by a court of law to have resulted primarily and directly from the Placement Agent’s willful misconduct or gross negligence in performing the services described herein, as the case may be.

  

  

  2.          Promptly after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which the Placement Agent is entitled to indemnity
    hereunder, the Placement Agent will notify the Company in writing of such claim or of the commencement of such action or proceeding, and the Company will assume the defense of such action or proceeding and will employ counsel reasonably satisfactory to
    the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ counsel separate from counsel for the Company and from any other party in such action if
    counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent. In such event, the reasonable
    fees and disbursements of no more than one such separate counsel will be paid by the Company. The Company will have the exclusive right to settle the claim or proceeding provided that the Company will not settle any such claim, action or proceeding
    without the prior written consent of the Placement Agent, which will not be unreasonably withheld.

  

  

  3.        The Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a
    transaction contemplated by the Agreement.

  

  

  4.          If for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then the Company shall contribute to the amount paid or
    payable by the Placement Agent, as the case may be, as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand, and the Placement
    Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or
    payable by a party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding the
    provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent under the Agreement (excluding any amounts received as reimbursement of
    expenses incurred by the Placement Agent).

  
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  5.          These Indemnification Provisions shall remain in full force and effect whether or not the transaction contemplated by the Agreement is completed and shall survive the termination of the
    Agreement, and shall be in addition to any liability that the Company might otherwise have to any indemnified party under the Agreement or otherwise.

  

  

  

  

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  A-2

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