Document:

Exhibit 10.17

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM
TO THE REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED.

 

HEALEY ALS PLATFORM TRIAL

 

CLINICAL RESEARCH SUPPORT AGREEMENT

 

THIS CLINICAL RESEARCH
SUPPORT AGREEMENT (“Agreement”) is made and entered into as of September 27, 2019 (“Effective
Date”) by and between Clene Nanomedicine, Inc. (“Company”) a Delaware corporation, duly organized
under law, and having an address at 3165 E. Millrock Drive, Suite 325, Salt Lake City, UT 84121 and The General Hospital Corporation
d/b/a Massachusetts General Hospital (“MGH”), a not-for-profit corporation organized under the laws of Massachusetts
with its principal place of business at 55 Fruit Street, Boston, MA 02114. MGH and Company are each a (“Party”)
to the Agreement and are collectively, the (“Parties”).

 

WHEREAS, MGH has created the Sean M. Healey
and AMG Center for ALS (“Healey Center”) with Merit Cudkowicz, MD as Director (“Healey Center Director”);

 

WHEREAS, the Healey Center
is dedicated to discovering life-saving therapies in people who are affected by Amyotrophic Lateral Sclerosis (“ALS”).
The Healey Center intends to develop and administer a series of adaptive, multicenter, randomized, placebo-controlled clinical
trials in ALS patients (“HEALEY ALS Platform Trial”);

 

WHEREAS, the Healey Center is supported by
philanthropic donations and industry collaborators that desire to support clinical research on new treatments for ALS under the
HEALEY ALS Platform Trial;

 

WHEREAS, Company is engaged
in developing, manufacturing and/or distributing novel therapeutics products aimed at improving medical care and expanding treatment
options for people with ALS, and has previously disclosed confidential information regarding its pharmaceutical product, CNM-Au8
(“Company Drug”) to MGH. Company desires to demonstrate the safety and effectiveness of Company Drug in patients
with ALS and making it available for clinical research;

 

WHEREAS, Company further
recognizes MGH and the Healey Center and its physicians possess extensive experience and knowledge pertaining to clinical research
in ALS. Further, Company has been selected by the Healey Center to receive financial support to conduct clinical research on Company
Drug as part of the HEALEY ALS Platform Trial;

 

WHEREAS, this Agreement
is intended to establish the scope of work to be provided, the standards for both parties in the performance of the research, and
a budget;

 

NOW, THEREFORE, in consideration
of the premises and of the mutual covenants, conditions and agreements contained herein, the receipt and legal sufficiency of which
is hereby acknowledged, accepted and agreed to, the parties, intending to be legally bound, hereby agree as follows:

 

		Article 1.	Definitions

 

		1.1	“Company Invention” shall mean any Invention
                                                                                                                     (i) made solely by one or more employees of Company in the performance of the Study; (ii) that specifically covers or claims
                                                                                                                     the composition or state of matter of Company Drug; (iii) involves any methods of making, manufacturing, or
                                                                                                                     administering Company Drug; or (iv) new uses of Company Drug, including the treatment of ALS.

 

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		1.2	“Invention” shall mean any new and useful discovery,
conceived and reduced to practice, constructively or actually, by one or more employees or agents of Company, MGH, or a Site in
the performance of the Study.

 

		1.3	“Joint Invention” shall mean any Invention which
is made jointly by one or more employees or agents of MGH and one or more employees or agents of either Site and/or Company in
the performance of the Study, except for any Company Invention.

 

		1.4	“MGH Invention” shall mean any Invention made
solely by one or more employees of MGH in the performance of the Study, except for any Company Invention.

 

		1.5	“Patent Right” shall mean any United States or
foreign patent application that describes and claims an Invention, or the equivalent of such application, including any division
or continuation (but not including any new subject matter included in any continuation-in-part), or any Letters Patent or the equivalent
thereof issuing thereon, or reissue, reexamination, or extension thereof.

 

		1.6	“Site Invention” shall mean any Invention made
solely by one or more employees of a Site in the performance of the Study, except for any Company Invention.

 

		1.7	“Tangible Materials” shall mean voice, tissue,
and/or biofluid samples from human subjects enrolled in the Study (together referred to as “Biosamples”), and
any deoxyribonucleic acid (“DNA”), induced pluripotent stem cells (“iPSCs”) and motor neurons
(“MNs”) derived therefrom.

 

		Article 2.	Scope of Services

 

Company hereby retains MGH to
perform the services described in the Scope of Work, attached hereto as Exhibit A and incorporated herein by reference
(the “Study”).

 

		2.1	Study Sites. MGH will negotiate and sign clinical research
site agreements with the participating Study sites (“Site”) in the form and substance similar to the template
attached hereto as Exhibit B (“Site Agreement”). The template shall provide, in part:

 

		(i)	that Company shall provide Study subject injury medical
expense reimbursement to the Site; and

 

		(ii)	that Company shall maintain adequate levels of insurance to cover its obligations under the Site Agreement.

 

		2.2	Each Company Drug and the matching placebo (“Study Regimen”)
set forth in the Study protocol (“Master Protocol”) will be attached to the Site Agreements as a work order,
a sample format of which is attached here to as part of Exhibit B (“Task Order”).

 

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		Article 3.	Period of Performance

 

This Agreement shall begin on
the date of last signature hereto (“Effective Date”) and shall continue in full force and effect for a period
of three (3) years (“Period of Performance”), unless the Period of Performance is extended by written modification
of the Agreement signed by authorized officials of both Parties. In the event that a Study Regimen is not completed within the
Period of Performance, any Study Regimen under a Task Order that is entered into prior to such expiration or earlier termination,
this Agreement will remain in effect until the completion of that Study Regimen or expiration or earlier termination of that Study
Regimen or expiration or earlier termination of the Task Order for that Study Regimen, whichever is earlier.

 

		Article 4.	Compensation

 

		4.1	Fee Schedule. Company
shall pay to MGH the fees set forth in Exhibit C (“Fee Schedule”) in accordance with the schedule set
forth in such Exhibit.

 

		4.2	Invoice/Method of Payments. MGH shall deliver to Company within
thirty (30) days after the end of each calendar quarter in accordance with the Exhibit, an invoice setting forth the itemized list
of accrued fees earned by MGH and authorized expenses incurred. Company shall pay each invoice within thirty (30) days of receipt,
unless, within that period of time, the Company objects to the invoice or any portion thereof in which event, the Parties shall
engage in good faith discussions to resolve any issues.

 

MGH shall submit invoices to:

 

Accounts Payable

Clene Nanomedicine, Inc.

3165 E. Millrock Drive, Suite 325

Salt Lake City, UT 84121

MaryAnne@clene.com

 

Checks shall be made payable to
The General Hospital Corporation, Federal Tax ID No.: 04-2697983, shall reference the name of the Principal Investigator, the Protocol
number, and the Research Management agreement number #2019A012842, and shall be forwarded to:

 

Massachusetts General Hospital

Research Finance

c/o the Bank of America

PO Box 414876

Boston, MA 02241-4876

 

		4.3	Sunshine Act Reporting. MGH understands and agrees
that for purposes of complying with Company's reporting obligations under the Patient Protection and Affordable Care Act of 2010
(together with any regulations and official guidelines promulgated thereunder) and any applicable state reporting requirements, Company may
collect, aggregate and report any and all payments made pursuant to this Agreement as research payments made to MGH.

 

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		Article 5.	Representations, Debarment,
Audits

 

		5.1	MGH represents that:

 

		(i)	The person signing this Agreement has the power and authority
to execute this Agreement, and the Agreement is binding upon MGH;

 

		(ii)	MGH will perform the Study in accordance with the terms of this Agreement;

 

		(iii)	MGH shall obtain all authorizations, permits, certificates, and licenses that are required for
the performance of its obligations under this Agreement and the Study; and

 

		(iv)	MGH will obtain any necessary prior approval and ongoing review of all appropriate and necessary review authorities.

 

		(v)	MGH will ensure regulatory compliance, as outlined in applicable Food and Drug Administration (“FDA”) regulations

 

		(vi)	the personnel assigned by MGH to perform the Study shall be qualified and professionally capable
of performing the Study, and the Study shall be conducted in accordance with the following provisions, (collectively, “Research
Standards”) including: (a) the standard of care and diligence practiced by recognized organizations or experts performing
services of a similar nature; (b) accepted scientific principles and practices generally followed within the scientific community
by other experts conducting studies; and (c), the principles of Good Clinical Practice (“GCP”) specified in
the International Conference On Harmonisation Of Technical Requirements For Registration Of Pharmaceuticals For Human Use, Guideline
For Good Clinical Practice, E6 (R1), 10 June 1996, and later addendums; together with such other such GCP requirements as are specified
in the local national law or regulations where the Study is being performed.

 

		5.2	Debarment. MGH represents that to the best of
its knowledge neither MGH, Sites, nor any MGH Representative or Site Representative contributing to or acting in connection with
performance of the Study or MGH’s obligations hereunder is presently or has ever been (i) the subject of a debarment action
or is debarred pursuant to Section 306 of the United States Federal Food, Drug, and Cosmetic Act of 1938, as amended, or other
Applicable Laws; (ii) the subject of a disqualification proceeding or is disqualified as a clinical investigator pursuant to Title
21 of the United States Code of Federal Regulations ("C.F.R.") Section 312.70, or other Applicable Laws; or (iii)
the subject of an exclusion proceeding or excluded from participation in any federal health care program under 42 C.F.R. Part
1001 et seq., or other Applicable Law (as indicated by an appearance on the List of Excluded Individuals/Entities maintained by
the Office of Inspector General of the Department of Health and Human Services, the Excluded Parties List System maintained by
the U.S. General Services Administration, or other applicable exclusionary databases). Furthermore, MGH agrees not to knowingly
employ or otherwise engage any individual or entity in connection with performance of the Study hereunder who has been debarred,
disqualified, or excluded, as described above, and shall promptly notify Company in writing upon MGH or MGH Representatives becoming
aware of any inquiry concerning, or the commencement of any proceeding or disqualification that is the subject of this Section
that involves MGH or MGH Representatives, or any inquiry concerning the same.

 

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		5.3	Audit. During the term of this Agreement, at mutually
agreeable times during normal business hours, Company and its representatives shall have the right in conjunction with MGH to
review the records utilized in the performance of the Study. If any governmental authority contacts MGH to give notice of its
intent to audit MGH with respect to the Study, MGH shall promptly notify Company. Company acknowledges that Company may not direct
the manner in which MGH fulfills its obligations to permit inspection by governmental entities. It shall not be a breach of this
Agreement for MGH to comply with the demands and requests of any governmental entity in accordance with MGH’s judgment.

 

		Article 6.	Company Drug

 

Company shall provide to MGH or
each Site enough quantities of the Company Drug identified in the Task Order as may be required for each Site to perform the Study
in accordance with the Study Regimen schedule. Each Site, through Site Investigator, will safeguard Company Drug with the degree
of care used for its own property and shall return or otherwise dispose of any remaining Company Drug at the termination date of
each Task Order in accordance with MGH’s instructions. Site shall not use any Company Drug for any purpose other than the
Study Regimen in which it was provided, unless otherwise agreed to in writing by the Parties. Company represents and warrants that
it is in compliance with federal, state, and local laws and regulations relating to the manufacture and formulation of the Study
Regimen, and with other applicable legal requirements for performance of the Study.

 

		Article 7.	Confidential Information

 

“Confidential Information" shall
mean any business or proprietary information provided by one Party to the other and clearly identified as "Confidential"
by the transmitting Party at the time of disclosure. If such transmittal occurs orally, the transmitting Party will within thirty
(30) days reduce such transmittal to written form, mark and identify it as confidential, and provide such record to the other party.
Notwithstanding the above, Confidential Information shall also include any information that a reasonable person would conclude
is the confidential and proprietary information of the disclosing Party and shall be treated in a manner consistent with this Article.

 

In the event that a Party discloses Confidential Information
to the other, the receiving Party agrees to disclose the Confidential Information only on a need-to-know basis to its employees,
directors or other advisors or representatives who are subject to confidentiality obligations, to use the Confidential Information
only for the purposes contemplated by the Scope of Work and the Study and to use reasonable efforts to prevent its disclosure to
third parties.

 

However, the receiving Party
may disclose the Confidential Information if, as evidenced by contemporaneous tangible records, such information (i) was already
in the public domain or becomes publicly available through no wrongful act of receiving party, (ii) was previously known or developed
by the receiving Party without any violation of existing confidentiality obligations, (iii) was known by receiving Party prior
to disclosure by disclosing Party; (iv) becomes
known to receiving Party after disclosure from a third party having an apparent bona fide right to disclose it; (v) is independently
developed or discovered by employees or agents of the receiving Party who had neither knowledge of nor access to the disclosing
party’s Confidential Information; or (vi) was required to be disclosed by operation of law.

 

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Additionally, MGH may disclose Company’s Confidential
Information for purposes of discussing and/or presenting the Platform Trial to the FDA and for other regulatory purposes.

 

The Parties agree that each Party retains ownership
of the Confidential Information it provides to the other. The receiving Party shall promptly return the disclosing party’s
Confidential Information upon request.

 

The obligations of this Article shall survive for
a period of five (5) years from the date of disclosure. Notwithstanding the forgoing, the Parties agree that any Protected Health
Information shall be considered confidential in perpetuity.

 

		Article 8.	Master Protocol

 

The Master Protocol – incorporated by reference
and sent under separate cover -- is reviewed and approved by a central Institutional Review Board (“Central IRB”)
at MGH. Sites have agreed to cede review of the Master Protocol to the Central IRB pursuant to a separate reliance agreement between
MGH and the Sites. For each Study Regimen in which a Site participates, the Site will provide all the necessary qualified personnel,
equipment, materials and facilities to accomplish the research as set forth in that Central IRB-approved Master Protocol.

 

Each Site will represent and warrant that it shall:

 

		a)	assume all responsibility to enroll and follow human subjects participating in the Study according
to the most recent approved version of the Master Protocol;

 

		b)	comply with all institutional and federal regulations concerning informed consent;

 

		c)	confirm approval of the Master Protocol and subject consent form(s) from the Central IRB prior
to commencement of human subject research under a Task Order;

 

		d)	obtain local ancillary approval(s) as necessary;

 

		e)	follow all Site policies and procedures with respect to the conduct of the activities under the
Master Protocol; and

 

		f)	ensure regulatory compliance, as outlined in applicable FDA regulations.

 

		g)	agrees not to knowingly employ or otherwise engage any individual or entity in connection
                                                                                                         with performance of the HEALEY ALS Platform Trial that is presently or has ever been: (i) the subject of a debarment action
                                                                                                         or is debarred pursuant to Section 306 of the United States Federal Food, Drug, and Cosmetic Act of 1938, as amended, or
                                                                                                         other Applicable Laws; (ii) the subject of a disqualification proceeding or is disqualified as a clinical investigator
                                                                                                         pursuant to Title 21 of the United States Code of Federal Regulations ("C.F.R.") Section 312.70, or other
                                                                                                         Applicable Laws; or (iii) the subject of an exclusion proceeding or excluded from participation in any federal health care
                                                                                                         program under 42 C.F.R. Part 1001 et seq., or other Applicable Law (as indicated by an appearance on the List of Excluded
                                                                                                         Individuals/Entities maintained by the Office of Inspector General of the Department of Health and Human
Services, the Excluded Parties List System maintained by the U.S. General Services Administration, or other applicable exclusionary
databases).

 

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		Article 9.	Notification; Material
Participant Information

 

Company agrees to promptly notify MGH in writing
of information that it becomes aware of (such as results or findings from a monitoring visit) that could significantly affect the
safety or medical care of current or former subjects participating in the Study, significantly affect current subjects’ willingness
to continue participation, materially influence the conduct of the Study, or likely alter the Central IRB's approval. Site, through
the Site Investigator and/or Site institutional representative as appropriate, shall be responsible for informing subjects of any
information received from MGH that could significantly affect safety or medical care in accordance with the Central IRB-approved
informed consent forms (“ICFs”) signed by participants and Master Protocol. Company agrees to not contact Site’s
Study participants unless authorized pursuant to the ICF. No other provision of this Agreement shall be construed to override the
provisions of this Article 8. This Section survives the expiration or termination of the Agreement.

 

		Article 10.	Study Data and Tangible Materials

 

		10.1	Study Data. Each
Site will gather data from participants in the performance of a Task Order and Site shall be required to deliver to MGH pursuant
to the Master Protocol: data from active treatment groups in the Study (“Study Regimen Treatment Data”) and
data from participants assigned to a placebo group in the Study (“Study Regimen Placebo Data”) pursuant to
the Master Protocol. In addition, the Master Protocol may also include data from the placebo group(s) of other clinical studies
that are part of the HEALEY ALS Platform Trial (“Healey Placebo Data”). Study Regimen Treatment Data, Study
Regimen Placebo Data, and Healey Placebo Data are collectively referred to as (“Study Data”).

 

		10.2	Ownership of Study Data. The Parties agree that Study Regimen
Treatment Data shall be solely owned by Company; Study Regimen Placebo Data shall be jointly and severally owned by Company and
MGH; and Healey Placebo Data shall be jointly owned by MGH and one or more third parties that have completed a clinical study associated
with the HEALEY ALS Platform Trial. For clarity, Company shall not claim ownership of any Healey Placebo Data.

 

		10.3	Restrictions on Use.
Company agrees: (i) to use and share Study Data in accordance with the ICF or any IRB-approved waiver of authorization and to
the extent required to comply with applicable law; (ii) to not contact any Study subjects unless permitted by the ICF; (iii) to
not use or share individually identifiable health information for any mailing list or for any marketing purpose; (iv) to comply
in all material respects with all applicable federal, state and local laws and regulations regarding the privacy of individually
identifiable health information (and its collection, use, storage, and disclosure), including, but not limited to, the Health
Insurance Portability and Accountability Act of 1996 and the regulations promulgated thereunder, as may be amended from time to
time (“HIPAA”); and (v) to use all reasonable efforts to protect the privacy and security of individually identifiable
health information and require its business partners and subcontractors to do so as well.

 

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		10.4	Site Study Data. Company agrees to grant MGH and each Site
the right to use each Site’s Study Data for their: (i) publication purposes, consistent with Article 12; (ii) internal research
and educational purposes; (iii) patient care specific to the Site; and (iv) to the extent required to comply with applicable law.
Each Site will comply in all material respects with all applicable federal, state and local laws and regulations regarding the
privacy of individually identifiable health information (including its collection, use, storage, and disclosure), including, but
not limited to, HIPAA.

 

		10.5	ALS Data Repository. Company understands and agrees that Study
Regimen Placebo Data may also be used in investigational regimen(s) from other ALS clinical trials associated with the HEALEY ALS
Platform Trial for research and educational purposes. Additionally, Company understands and agrees that Study Regimen Placebo Data
will be included and aggregated with Healey Placebo Data in one or more repositories of ALS clinical trials for research and educational
purposes.

 

		10.6	Tangible Materials. Each Site will collect Biosamples and deliver to MGH, or other facility,
as indicated in the Master Protocol or Regimen Specific Appendix. MGH, as the sponsor of the HEALEY ALS Platform Trial, shall own
the Tangible Materials, including any DNA, iPSCs and MNs derived from Biosamples. Upon Company’s request, MGH agrees to provide
Company with access to the Tangible Materials collected in the HEALEY ALS Platform Trial for performance of investigations and
analyses as specified in the Master Protocol or Company’s Regimen Specific Appendix, as applicable. MGH and Company agree
to collect, use, store, and disclose Study Data associated with Tangible Materials only in accordance with the ICF, Master Protocol,
Regimen Specific Appendix, or any IRB-approved waiver of authorization. For clarity, data derived from pharmacokinetic and/or pharmacodynamic
analyses of Tangible Materials by Company shall follow the ownership standards defined in Section 10.2. MGH and Company will not
collect, use, store, or disclose any individually identifiable health information attached to or contained within the Tangible
Materials that would violate this Agreement.

 

		10.7	Biomarker Research. Company agrees that MGH may use the Study
Data and Tangible Materials outside of the Study in order to conduct research on biomarkers of ALS. MGH may share de-identified,
as defined by HIPAA, Study Data and Tangible Materials with non-profit institutions for further research and educational research
purposes outside of the Study. MGH certifies that such sharing will be consistent with MGH policy, the ICF or any IRB-approved
waiver of authorization, and applicable law and pursuant to a written agreement with the recipient that contains appropriate terms
and conditions regarding the privacy and security of human subjects derived data and materials.

 

		Article 11.	Intellectual Property
Rights

 

		11.1	Pre-existing
                                         Intellectual Property. Ownership of inventions, discoveries, works of authorship,
                                         know-how, patents, and copyrights, and other intellectual property rights existing as
                                         of the Effective Date, or outside the scope of the Study, (“Pre-existing Intellectual
                                         Property”) are not affected by this Agreement. No Party shall have any claims
                                         or rights to any Pre-existing Intellectual Property of the other Party, except as may
                                         be expressly provided in another written agreement between the Parties, as applicable.

 

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		11.2	Ownership of Inventions. Each Party shall promptly provide
written notice to the other of any Invention arising hereunder. Inventorship of Inventions shall be determined in accordance with
U.S. Patent law and regulations. Ownership of Inventions shall follow inventorship. Notwithstanding the foregoing, MGH shall not
claim ownership of Company Inventions. Site shall promptly disclose any Site Invention to MGH. Each Party owning an undivided interest
in any Joint Invention shall have the right to freely exploit and sublicense its rights in such Joint Invention, unless such Joint
Invention is subordinate to Pre-existing Intellectual Property according to U.S. or other foreign patent law, without a duty to
account to the other Party subject to the option rights set forth in Section 11.3 below.

 

		11.3	License Option. MGH hereby grants to Company an option to negotiate
a non-exclusive, worldwide, royalty-bearing license to MGH’s rights in any MGH Invention and MGH’s rights in
any Joint Invention, with right to sublicense. Company will have ninety (90) days from disclosure of any Invention to notify MGH
of its desire to enter into a non-exclusive license agreement (the “Option Period”), and a non-exclusive license
agreement shall be negotiated in good faith within a period not to exceed one hundred eighty (180) days from Company’s notification
to MGH of its desire to enter into a non-exclusive license agreement (the “Negotiation Period”), or such period
of time as to which the Parties shall mutually agree in writing. If, however, Company timely exercises its option, but MGH and
Company are unable to agree upon the terms of a license agreement during the Negotiation Period, Company’s rights to license
such MGH Invention and/or Joint Invention shall terminate, and MGH shall be free to license such MGH Invention and/or Joint Invention
to any other party with no further obligation to Company. Notwithstanding the terms of any license agreement, MGH shall retain
the right to practice its Invention for internal research and educational purposes solely at MGH. Moreover, the rights granted
to Company under this Section 11.3 exclusively shall be subject and subordinate to any applicable rights, conditions, and limitations
imposed by U.S. law and regulations, including without limitation, the royalty-free, non-exclusive license granted to the U.S.
government (see 35 U.S.C. §202 et seq., and regulations pertaining thereto).

 

		Article 12.	Publication

 

Each Study Regimen is a multi-site study and a collaborative
publication is anticipated. Company and Sites agree that they shall delay publication of the Study Regimen Treatment Data until
such time as the collaborative publication is released or eighteen (18) months after the conclusion of the Study Regimen, whichever
occurs first. In order to ensure the integrity and meaningfulness of the platform trial model, Company and Sites agree that they
shall delay publication of any Study Regimen Placebo Data until such time as the HEALEY ALS Platform Trial Executive Committee
grants explicit permission to publish it.

 

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The HEALEY ALS Platform Trial Executive Committee
will determine a publication strategy and assume oversight of this Article 12. A “Study Publication” is any
proposed abstract, manuscript, presentation, publication or similar material containing Study Data.

 

		12.1	Review and Authorship. All Study Publications are subject to review by the HEALEY ALS
Platform Trial Executive Committee, Study stakeholders, and Company. Authorship shall be in accordance with the accepted ICMJE
standards. Company shall be entitled to review such Study Publications solely for the purpose of identifying Company’s Confidential
Information, which shall be removed from the publication upon Company’s request; and to identify any patentable Inventions,
which shall be addressed as described below; and to provide any other comments Company desires to provide, provided that MGH and
the HEALEY ALS Platform Trial Executive Committee shall have no obligation to address any such additional comments.

 

		12.2	Publication Approval. All Study Publications shall be submitted
to the HEALEY ALS Platform Trial Executive Committee for review and approval by the HEALEY ALS Platform Trial Executive Committee
at least forty-five (45) days prior to the submission of the Study Publication. Healey Center shall advise the Site or Company
within forty-five (45) days of receiving any Study Publication if the Study Publication: (i) contains or discloses any potentially
patentable inventions (“Patentable Material”), or (ii) contains any Healey Center or Company Confidential Information.
Site will agree to delete any Patentable Material or Confidential Information. In the of event that Company reasonably believes
a patent application claiming a Company Invention (as defined herein) should be filed prior to such publication, such submission
shall be delayed for up to an additional thirty (30) days or until any patent application or applications have been filed, whichever
shall first occur.

 

		12.3	Use of Company’s
                                         Name. Company may request that their name be included or omitted in a Study Publication
                                         in accordance with acceptable standards and publication policies.

 

In the event Company independently publishes Study
Data in accordance with this Article, Company agrees that the support of the Healey Center shall be acknowledged, in any media,
whether copyrighted or not, by including an acknowledgment substantially as follows:

 

“This investigation was supported by an award
from the Sean M. Healey & AMG Center for ALS at Mass General.”

 

		Article 13.	Liability and Insurance

 

Each Party shall, at its sole
cost and expense, procure and maintain policies of professional and general liability insurance in amounts not less than Three
Million Dollars ($3,000,000) per claim or occurrence and Five Million Dollars ($5,000,000) annual aggregate covering its obligations
under this Agreement.

 

Each Party shall provide the
other Party at its request with written evidence of such insurance. Each Party shall provide the other party with written notice
at least thirty (30) days prior to the cancellation, non-renewal or material change, in such insurance; if that Party does not
obtain replacement insurance providing comparable coverage within such thirty (30) day period, the other Party shall have the
right to terminate this Agreement effective at the end of such thirty (30) day period without notice of any additional waiting
periods.

 

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		Article 14.	Termination

 

		14.1	This Agreement may be terminated in whole or in part
in any of the following cases:

 

		(i)	by MGH upon thirty (30) days prior notice to Company;

 

		(ii)	by either Party immediately when such action is necessary to protect the health, safety or welfare
of human subjects; or

 

		(iii)	by either Party upon a material breach of the Agreement and such breach is not able to be cured
or has not been cured within thirty (30) days of written notice of such breach.

 

In all cases, notice must be in written format and
provided to the Party’s contacts identified herein.

 

		14.2	Survival. The rights and obligations of Company and MGH, which
by intent or meaning have validity beyond expiration or termination of this Agreement (including, but not limited to, rights with
respect to material subject information, publication, intellectual property, use of name, confidentiality, choice of law, insurance,
and privacy) shall survive the expiration or termination of this Agreement.

 

		Article 15	Miscellaneous

 

		15.1	Contractual Relationship. Each Party’s relationship
to the other party under this Agreement will be that of an independent contractor and neither Party shall be considered to be
an agent, joint venturer, or partner of the other Party. MGH acknowledges and agrees that Company shall have no responsibility
for treating MGH or MGH Representatives as employees of Company for any purpose. Neither MGH nor any MGH Representative shall
be eligible for coverage or to receive any benefit under any Company provided workers’ compensation, employee plans or programs
or employee compensation, bonus, incentives, retirement or other arrangements.

 

		15.2	Amendments. The terms of this Agreement can be
modified only by a writing, which is signed by authorized representatives of MGH and Company.

 

		15.3	Use of Name. Neither Party shall use the name
of the other Party or any adaptation thereof or the name of any staff member, employee, agent or student of the other Party in
any advertising, promotional, or sales literature or publicity without the prior written approval of the Party or individual whose
name is to be used. However, a Party may, without prior consent, use and/or disclose the other party’s name as required
by law, Court order, and regulation, or in submissions to the FDA, institutional review boards, ethics committees, or other health
regulatory authorities, or for internal purposes, or for communication regarding the existence of this Agreement, Company’s
participation in the Healey ALS Platform Trial by MGH, or the publicly revealed design elements of the Master
Protocol and/or Company’s Regimen Specific Appendix. For MGH, such approval must be obtained from the Public Affairs department,
which may be reached here: http://www.massgeneral.org/news/contact.

 

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		15.4	Governing Law. This Agreement shall be governed
by and construed and interpreted in accordance with the laws of the Commonwealth of Massachusetts. Each Party agrees to submit
to the exclusive jurisdiction of the United States District Court for the District of Massachusetts with respect to any claim,
suit, or action in law or equity arising in any way out of this Agreement or the subject matter hereof.

 

		15.5	Waiver. No action or inaction by either Party
shall be construed as a waiver of such party's rights under this Agreement or as provided by Applicable Law. No term of this Agreement
may be waived except by an express notice in writing signed by the waiving party. The failure or delay of a Party in enforcing
any of its rights under this Agreement shall not be deemed a continuing waiver of such right. The waiver of one breach hereunder
shall not constitute the waiver of any other or subsequent breach.

 

		15.6	Severability. In the event any provision of this
Agreement conflicts with the law under which this Agreement is to be construed or if any such provision is held illegal, invalid,
or unenforceable, in whole or in part, by a competent authority, such provision shall be deemed to be restated to reflect as nearly
as possible the original intentions of the Parties in accordance with Applicable Laws. The legality, validity, and enforceability
of the remaining provisions shall not be affected thereby and shall remain in full force and effect.

 

		15.7	Entire Agreement. This Agreement, including any
exhibits, attachments, and other documents that are incorporated by reference herein, constitutes the entire understanding and
agreement between the Parties, and supersedes and replaces all prior agreements, understandings, writings and discussions between
the Parties with respect to the subject matter of this Agreement.

 

		15.8	Counterparts. This Agreement may be executed in
one or more counterparts, each of which counterpart shall be deemed an original Agreement and all of which shall constitute but
one Agreement. Electronic or scanned copies of signatures or electronic images of signatures shall be considered original signatures
unless prohibited by Applicable Law.

 

		15.9	Notice. Any notice required or permitted hereunder
shall be in writing and shall be deemed given as of the date it is: (i) delivered by hand; (ii) received by registered or certified
mail, postage prepaid, return receipt requested; (iii) confirmed as received if by facsimile or email; or (iv) received
by nationally recognized, overnight courier, and addressed to the party to receive such notice at the address set forth below,
or such other address as is subsequently specified in writing.

 

    Page 12

     

    

 

	If to Company:	If to MGH:
	 	 
	Chief Business Officer	MGH Study Administrator
	Michael Hotchkin	Annette De Mattos
	3165 E. Millrock Drive, Suite 325	Massachusetts General Hospital
	Salt Lake City, UT 84121	110 6th Street, CNY Building 120
	Email: michael@clene.com	Charlestown, MA 02129
	 	Phone: (617) 643-3482
	 	Email: ademattos@mgh.harvard.edu
	 	 
	Chief Executive Officer	Healey Center Director / HEALEY ALS
	 	Platform Trial Principal Investigator
	 	 
	Rob Etherington	Merit Cudkowicz, MD
	3165 E. Millrock Drive, Suite 325	Massachusetts General Hospital
	Salt Lake City, UT 84121	165 Cambridge Street
	Email: rob@clene.com	Boston, MA 02114
	 	Phone: 617-726-0814
	 	Email: mcudkowicz@mgh.harvard.edu
	 	 
	Chief Medical Officer	HEALEY ALS Platform Trial Co-
	 	Principal Investigator
	 	 
	Robert Glanzman, MD FAAN	Sabrina Paganoni, MD
	3165 E. Millrock Drive, Suite 325	Massachusetts General Hospital
	Salt Lake City, UT 84121	165 Cambridge Street
	Email: robert@clene.com	Boston, MA 02114
	 	Phone: (617) 643-3452
	 	Email: spaganoni@mgh.harvard.edu

 

		15.10	Titles. All the titles and headings contained
in the Agreement are inserted only as a matter of convenience and reference and do not define, limit, extend, or describe the
scope of this Agreement or the intent of any of its provisions.

 

		15.11	Assignment. No Party to this Agreement may assign
its obligations hereunder without the prior written consent of the other Party, except that either Party may assign its rights
or obligations hereunder to any of its parent or subsidiary undertakings or associated companies, or to the purchaser of all or
substantially all of its assets, or to its successor entity or acquirer in the event of a merger, consolidation or change in control
of proposed assignor, without the prior written approval of the other Party.

 

SIGNATURE PAGE
FOLLOWS

 

    Page 13

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused their duly authorized representatives to execute this Agreement.

 

	Clene Nanomedicine, Inc.	 	The General Hospital Corporation
	 	 	 
	By:	/s/ Rob Etherington	 	By: 	/s/
    Kristin Collins, JD
	 	(signature)	 	 	(signature)
	 	 	 
	Name:  	Rob Etherington	 	Name: 	  Kristin
    Collins, JD
	Title:	CEO	 	Title:	Agreement Associate
	Date: 	9/30/2019	 	Date:	9/30/2019
	 	 	 
	 	 	READ AND ACKNOWLEDGED BY:
	 	 	 
	 	 	 	/s/ Merit Cudkowicz, M.D.
	 	 	 	(signature)
	 	 	 	Principal Investigator

 

    Page 14

     

    

  

EXHIBIT A

 

CLENE NANOMEDICINE, INC.

Scope of Work

HEALEY ALS Platform Trial

Industry Partner Contract

September 1, 2019 – December 31,
2021

 

 

Background and Purpose

 

The Sean M. Healey & AMG Center for ALS at Massachusetts
General Hospital (MGH) is dedicated to discovering life-saving therapies people who are affected by amyotrophic lateral sclerosis
(ALS). Under the leadership of Merit Cudkowicz, MD, MSc, Chief of Neurology, and a Science Advisory Council (SAC) of international
experts, the Center comprises a diverse group of researchers, clinicians, project managers and information technologists at Massachusetts
General Hospital, working with collaborators around the globe to find novel therapies for people with ALS. The Center is committed
to establishing the first ALS Platform Trial to investigate treatments for Amyotrophic Lateral Sclerosis (ALS) – the HEALEY
ALS Platform Trial. The HEALEY ALS Platform Trial is an adaptive, multicenter, randomized, placebo-controlled trial. The trial
will test multiple experimental agents in parallel, using a shared infrastructure with central governance and uniform data and
sample collection processes.

 

Within the framework of the HEALEY ALS Platform Trial,
pharmaceutical and bio-tech companies shall partner with MGH to test novel investigative compounds. Each investigational product
and the matching placebo (“Study Regimen”) shall be governed by the HEALEY ALS Platform Trial protocol (“Master
Protocol”). This partnership between MGH and Clene (“Company”) and the roles and responsibilities of each are
further described below.

 

MGH Roles and Responsibilities

 

MGH will provide clinical trial design, management
and regulatory services in support of this clinical investigation.

 

Regulatory

 

As the IND-holder and Coordination Center for the
HEALEY ALS Platform Trial, MGH shall be responsible to uphold all Sponsor level regulatory responsibilities as outlined in US Food
and Drug Administration Code of Federal Regulations Title 21 and in accordance with the International Council for Harmonisation
(ICH) of Technical Requirements for Pharmaceuticals for Human Use Guidelines. It is MGH’s expectation that Company will provide
a letter of cross-reference and the Investigators Brochure, and IB updates containing a compilation of the clinical and nonclinical
data on the investigational product that is relevant to the study of the investigational products use in human studies, in support
of the MGH IND filing. The MGH will be responsible for all regulatory submissions filed under the Platform Trial IND, however some
communication with FDA (e.g., meeting requests, briefing documents, safety reports) will likely require collaboration and support
from the Company.

 

MGH shall ensure that all regulatory documentation
from clinical study sites and vendors are accurate, appropriately collected, and timely assembled for inclusion in the Trial Master
File (“TMF”) throughout the course of the study. MGH will provide copies of all regulatory communication and documents
filed with or received from the Food and Drug Administration (“FDA”) concerning the HEALEY ALS Platform Trial to Company.

 

As requested by Company, MGH shall provide the raw
data, in CDISC format, and any elements of the TMF requested by FDA or other health regulatory agency in order for Company to prepare
the tables, listings and figures, and any other TMF documentation in support the Company in preparing a final Clinical Study Report
(“CSR”) or other regulatory submission to the FDA or other health regulatory agency.

 

    Page 1 of 4

     

    

 

Clinical Trial Design

 

MGH shall work with Company to develop a Regimen-Specific
Appendix (“RSA”) that amends the Master Protocol with information specific to the investigational product.

 

Study biostatisticians will develop the Regimens Specific
Appendix full Statistical Analysis Plan (SAP), as necessary, to incorporate considerations specific to each Regimen.

 

Clinical Trial Management and Operations

 

MGH shall serve as the Clinical Coordination Center
(“CCC”) and Data Coordination Center (“DCC”) of the Study Regimen within the platform trial.

 

Clinical Coordination Center (“CCC”)

 

The MGH CCC shall:

 

		1.	Communications: Manage all communications
and reporting between and among the key stakeholders, including MGH, the Company, the FDA, and the HEALEY ALS Platform Trial Central
IRB, Data Safety Monitoring Board, Medical Monitor, Study Sites, and Study Vendors. The MGH CCC shall provide regular communications
regarding study status, enrollments, and timelines to Company no less than twice monthly.

 

		2.	Regimen Steering Committee: Assemble and manage a Regimen Steering Committee to include
representation from Company.

 

		3.	Study Meetings: Plan, organize, and conduct all routine and periodic study
                                                                meetings, including an Annual Platform Trial Meeting and various Regimen-specific meetings, such as the Regimen
                                                                Investigators’ Meeting and Regimen-specific meetings with the FDA.

 

		4.	Central IRB: Manage all aspects of protocol review and approval through a Central IRB (“cIRB”).

 

		5.	Clinical Study Sites: Contract with, manage, provide oversight for monitoring, and
pay all clinical study sites (“Sites”) that will have primary responsibility to recruit and enroll study participants,
obtain informed consent, schedule and perform all study assessments at all study visits, and submit all data via the Electronic
Data Capture (“EDC”) system.
	 	 	 

		6.	Site Outcomes Training and Site Monitoring: Provide oversight to a qualified provider,
contracted through a sub-award, to ensure that site outcomes training and certification, as well as study monitoring activities
are conducted per protocol and all application regulations.

 

		7.	External Vendors: Contract with, manage and pay external vendors to provide other
centralized study services, including electronic regulatory submissions, safety management through a Data Safety Monitoring Board
and Medical Monitor, central research pharmacy, central labs for sample logistics, clinical safety labs, and ECG analyses, as well
as specialized sample analyses.

 

		8.	Drug and Placebo Management: Oversee the logistics of drug and placebo supply to Study
Sites in collaboration with Company, MGH DCC, and MGH’s ALS Platform Trial Central Pharmacy vendor. Packaging and labeling
is the responsibility of HEALEYALS Platform Trial Central Pharmacy vendor unless otherwise determined by the Company. CCC will
ensure the study drug is shipped from the HEALEY ALS Platform Trial Central Pharmacy vendor to the study sites in an appropriate
temperature-controlled manner (ambient, 15-25C).

 

		9.	Safety Management: Provide a comprehensive safety management plan to include a Data
Safety Monitoring Board (DSMB) and Medical Monitor (MM) and oversee the routine reporting to the DSMB and MM, as well as all required
reporting of Adverse Events (“AEs”), Serious Adverse Events (“SAEs”), and expedited reporting of Suspected
Unexpected Serious Adverse Reaction (“SUSAR”) associated with the Study Regimen to the FDA within appropriate regulatory
reporting periods per 21CFR312.32. The Medical Monitor who reviews all SAEs in real-time will consult with the appropriate Company
representative for assessment of all SAEs and potential SUSARs. All safety reporting will be shared with the company to meet timely
FDA reporting requirements.

 

		10.	Other Stakeholders: Routinely engage with key stakeholders, such as the patient community,
to incorporate patient perspectives and to support robust participant recruitment and retention.

 

    Page 2 of 4

     

    

 

		11.	EndPoint Engine: Manage the collection and analysis of several novel outcome measures
and promising biomarkers. These new measures can potentially predict therapeutic success and provide answers more quickly than
traditional trial endpoints and provide important contributions to our knowledge about ALS.

 

Data Coordination Center (“DCC”)

 

The MGH DCC shall:

 

		1.	Data and Trial Management Systems: Develop, deploy, and maintain an EDC and Clinical
Trial Management System (“CTMS”) that is Clinical Data Interchange Standards Consortium (“CDISC”) compliant.

 

		2.	IWRS: Develop, deploy, and maintain an Interactive Web-based
Randomization System (“IWRS”) to assist Company and MGH’s ALS Platform Trial Central Pharmacy vendor to supply
Study Sites with investigational product and matching placebo.

 

		3.	Data Quality: In collaboration with an external Site Monitoring provider, manage
communications with Sites and Study Vendors in relation to the data quality review, reconciliation, and query resolution process.

 

		4.	Data Processing: Conduct routine data cleaning and develop analysis files for Study biostatisticians.

 

		5.	Statistical Analysis Plan (SAP) and Biostatistical Services: With the exception of
final Clinical Study Reports to the FDA (as noted below), provide comprehensive biostatistical design, analysis and reporting services
through MGH staff biostatisticians and an external consulting firm with specialized knowledge and experience in Bayesian methods
and platform trials.

 

		6.	Safety Management: Provide routine reporting to the DSMB and MM and all required
reporting of Adverse and Serious Adverse Events.

 

COMPANY Roles and Responsibilities

 

As further detailed below, Company
shall collaborate with the MGH CCC and DCC teams in developing a Regimen Specific Appendix to the Master Protocol, managing the
operational planning and execution of the Regimen study, and participating in regulatory activities in support of this clinical
investigation.

 

Regulatory

 

As the IND holder of the HEALEY ALS Platform Trial,
it is MGH’s expectation that Company will provide a letter of cross-reference and the Investigators Brochure (IB), and IB
updates containing a compilation of the clinical and nonclinical data on the investigational product that is relevant to the study
of the investigational products use in human studies, in support of the MGH IND filing. The MGH will be responsible for all regulatory
submissions filed under their IND, however some communication with FDA (e.g., meeting requests, briefing documents, safety reports)
will likely require collaboration and support from the Company.

 

MGH shall ensure that all regulatory documentation
from clinical study sites and vendors are accurate, appropriately collected, and timely assembled for inclusion in the Trial Master
File (“TMF”) throughout the course of the study. MGH will provide copies of all regulatory communication and documents
filed with or received from the Food and Drug Administration (“FDA”) concerning the HEALEY ALS Platform Trial to Company.

 

As requested by Company, MGH shall provide the raw
data and any elements of the TMF requested by FDA or other healthy regulatory agency in order for Company to prepare the tables,
listings and figures, and any other TMF documentation in support the Company in preparing a final Clinical Study Report (“CSR”)
or other regulatory submission to the FDA or other health regulatory agency.

 

MGH shall ensure that all regulatory documentation
from clinical study sites, and vendors are collected and assembled for inclusion in the Trial Master File throughout the course
of the study.

 

    Page 3 of 4

     

    

 

Company shall be primarily responsible for preparing
and filing the final Clinical Study Report (CSR) to the FDA. As requested by Company, MGH shall provide the raw data for Company
to prepare the tables, listings and figures required for the final CSR that the Company submits to the FDA.

 

Clinical Trial Design

 

Company shall work with MGH to develop a Regimen-Specific
Appendix (“RSA”) that amends the Master Protocol with information specific to the investigational product.

 

Clinical Trial Management and Operations

 

Company shall work with the MGH Clinical Coordination
Center (“CCC”) and Data Coordination Center (“DCC”) of the Study Regimen within the platform trial on all
matters related to the operational execution of the Company’s Regimen. Company shall:

 

		1.	Drug: Provide investigational product in
sufficient quantities to supply MGH throughout the course of the Regimen Study, and any open-label extension study that may be
incorporated with approval of and input from Company. Packaging and labeling is the responsibility of HEALEY ALS Platform Trial
Central Pharmacy vendor unless otherwise determined by the Company. Company shall ship drug directly to HEALEY ALS Platform Trial
Central Pharmacy vendor for distribution to Study Sites in an appropriately temperature-controlled manner as specified by the
Company.

 

		2.	Placebo: Provide matching placebo in sufficient quantities to supply MGH
                                                               throughout the course of the Regimen Study. Packaging and labeling is the responsibility of MGH’s ALS Platform Trial
                                                               Central Pharmacy vendor unless otherwise determined by the
Company. Company shall ship drug directly to MGH’s ALS Platform Trial’s Central Pharmacy vendor for distribution to
Study Sites in an appropriately temperature-controlled manner as specified by the Company.

 

		3.	IWRS: Work with the MGH DCC and ALS Platform Trial Central Pharmacy vendor to develop
and implement plans regarding packaging, labeling, and distribution to ensure timely delivery of drug and placebo to the Central
Pharmacy vendor. MGH’s ALS Platform Trial Central Pharmacy vendor will be responsible to supply Study Sites with investigational
product and matching placebo.

 

		4.	Pharmacokinetic (PK) and Pharmacodynamic (PD) Analyses: If applicable, identify, engage
and directly support the financial costs of PK and PD analyses related to Company’s drug.

 

		5.	Regimen Study Team and Regimen Steering Committee: Participate in routine Regimen
study team meetings and Regimen Steering Committee meetings and related activities – providing timely communication and feedback
to MGH in preparation for and in follow-up to those meetings and activities.

 

		6.	FDA Communications: Communications with the FDA will be a shared MGH and Company
responsibility.

 

Open-label Extension Study

 

We strongly encourage including open-label extension
study for all Regimens. All costs related to the OLE study will be provided by the Company. These costs are not included below
and will be negotiated separately.

 

Financial Commitment

 

In addition to the Company responsibilities outlined
above, Company shall provide $[***], as follows:

 

		●	Platform: $[***] to be used towards ongoing support of the ALS Platform Trial’s
core CCC and DCC activities.

 

		●	Regimen: $[***] to be used to support the activities specifically related to
the Regimen study of Company’s investigational product.

 

    Page 4 of 4

     

    

 

EXHIBIT B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

 

MASTER SITE CLINICAL TRIAL AGREEMENT

 

This Master Site Clinical Trial Agreement (“Agreement”)
is entered into by and between The General Hospital Corporation d/b/a Massachusetts General Hospital (“MGH”), a not-for-profit
corporation organized under the laws of Massachusetts with its principal place of business at 55 Fruit Street, Boston, Massachusetts
02114 and _____________________________________________________ (“Site”), each referred to herein individually as a
“Party” and collectively as the “Parties.”

 

WHEREAS, MGH has created the Sean M. Healey and AMG Center for
ALS (“Healey Center”) with Dr. Merit Cudkowicz as Director (“Healey Center Director”).
________________ is the Site Investigator.

 

WHEREAS, The Healey Center intends
to develop and administer clinical trials as the HEALEY ALS Platform Trial related to Amyotrophic Lateral Sclerosis (ALS) (hereinafter
referred to as “Study” or “Studies”) on a continuing basis.

 

WHEREAS, the Healey Center is supported by philanthropic
donations and certain industry collaborators whose products are used in the Study and who may also provide funding (collectively,
the “Company”).

 

WHEREAS, the purpose of this Agreement is to enable
Site to be a part of the HEALEY ALS Platform Trial and to institute terms and conditions that are applicable to Site in the performance
of this Study.

 

The following are attached hereto and made a part of this Agreement:

Appendix A: Statement of Work

Appendix B: Sample Task Order

Appendix C: Format for Invoices

 

		Article 1.	Task Orders

 

Each investigational product and the matching placebo
(“Study Regimen”) set forth in the Study protocol (“Master Protocol”) conducted under this Agreement will
be separately contracted by and between the Parties through a separate written agreement referencing this Agreement including terms,
conditions, the source of funding, any drug/placebo being provided, budget and milestone schedules that are specific to each individual
Study Regimen, a sample format of which is attached here to as Appendix B (“Task Order”). If any terms of a Task Order
conflicts with any terms of this Agreement, the terms of this Agreement shall govern, except in cases where the Task Order expressly
states that it amends a specific section of the Agreement.

 

Once a new Study Regimen is approved, the Healey
Center will issue a Task Order. As a condition of entering into this Agreement, MGH expects that the Site will participate in all
Study Regimens. If the Site cannot accept a Task Order, then Site shall promptly notify Healey Center to discuss the circumstances
and if necessary be exempted from participating in the Task Order.

 

		Article 2.	Period of Performance

 

This Agreement shall begin on
the date of last signature hereto (“Effective Date”) and shall continue in full force and effect for a period of five
(5) years (“Period of Performance”), unless the Period of Performance is extended by written modification of the Agreement
signed by authorized officials of both Parties. In the event that a Study Regimen is not completed within the Period of Performance,
any Study Regimen under a Task Order that is entered into prior to such expiration or earlier termination, this Agreement will
remain in effect until the completion of that Study Regimen or expiration or earlier termination of that Study Regimen or expiration
or earlier termination of the Task Order for that Study Regimen, whichever is earlier. Notwithstanding, MGH reserves the right
to issue unilateral extensions.

 

 

     

     

    

 

		Article 3.	Roles and Responsibilities

 

Site will conduct the Study
Regimen through the site investigator (“Site Investigator”). Site Investigator shall be responsible for the oversight
and execution of all Task Order activities under this Agreement and active participation in Study Regimen calls, meetings and committees,
as outlined in the Statement of Work provided in Appendix A herein, and as may be further detailed in a Task Order Statement of
Work.

 

Site Investigator may not be changed nor may his
or her effort be substantially redirected without prior written approval from the MGH Site Administrator. If Site Investigator
should become unavailable to the Study for a period exceeding three (3) months, Site shall request prior approval, in writing,
from MGH Study Administrator, identified in Article 4, to appoint a replacement. If the Parties cannot agree on a replacement,
the Task Order shall be terminated in accordance with Article 8 herein. In the event of termination, the Site will cooperate with
Healey Center and make all reasonable efforts to find alternate Sites to enable enrolled participants to continue with the Study.

 

Site shall not transfer or assign, by contract or
other means, any portion of the programmatic effort required under this Agreement without prior written approval from MGH. Such
requests shall be submitted to Healey Center Director and MGH Study Administrator for review and approval.

 

		Article 4.	Initial Payment

 

Site will be paid a one-time
amount of two thousand five hundred ($2,500) U.S. Dollars (“USD”) total, inclusive of indirect costs, to cover preliminary
start-up costs. Site may invoice the MGH Study Administrator for the start-up payment upon mutual execution of this Agreement,
in a format substantially similar to Appendix C.

 

		Article 5.	Contacts

 

For purposes of this Agreement, the individuals
identified below are the designated representatives for MGH and Site. The MGH Agreement Administrator is the primary point of contact
for questions relating to the terms of this Agreement. The MGH Study Administrator is the primary point of contact for the resolution
of administrative and financial questions The Site Administrator is primary contact for the resolution of administrative and financial
questions at the Site.

 

	MGH Agreement Administrator	Healey Center Director / HEALEY ALS
	 	Platform Trial Principal Investigator
	Paul Whitty	Merit Cudkowicz, MD
	Partners HealthCare Research Management	Massachusetts General Hospital
	399 Revolution Drive, Suite 740	165 Cambridge Street
	Somerville, MA 02145	Boston, MA 02114
	Phone: (857) 282-1893	Phone: 617-726-0814
	Email: pwhitty@partners.org	Email: mcudkowicz@mgh.harvard.edu
	 	 
	MGH Study Administrator	HEALEY ALS Platform Trial Co-Principal
	 	Investigator
	 	Sabrina Paganoni, MD
	Annette De Mattos	 
	Massachusetts General Hospital	Massachusetts General Hospital
	110 6th Street, CNY Building 120	165 Cambridge Street
	Charlestown, MA 02129	Boston, MA 02114
	Phone: (617) 643-3482	Phone: (617) 643-3452
	Email: ademattos@mgh.harvard.edu	Email: spaganoni@mgh.harvard.edu
	 	 

 

    
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	Site Administrator	Site Investigator
	__________________________________	_________________________________
	__________________________________	__________________________________
	__________________________________	__________________________________
	__________________________________	__________________________________
	__________________________________	__________________________________
	 	 

 

		Article 6.	Policies and Procedures

 

The MGH Neurological Clinical Research Institute
(“NCRI”) will develop standard operating procedures and policies that pertain to collaborative activities of the MGH-NCRI
Study Coordination Center, Companies and HEALEY ALS Platform Trial sites (“NCRI Policies and Procedures”). NCRI Policies
and Procedures will be found at the HEALEY ALS Platform Trial website. By signing this Agreement, Site agrees to follow NCRI Policies
and Procedures in the conduct of the Study.

 

		Article 7.	Master Protocol

 

The Master Protocol – incorporated by reference
and sent under separate cover -- is reviewed and approved by a central Institutional Review Board (“Central IRB”)
at MGH. Site has agreed to cede review of the Master Protocol to the Central IRB pursuant to a separate reliance agreement between
the Parties. For each Study Regimen in which the Site participates, the Site will provide all the necessary qualified personnel,
equipment, materials and facilities to accomplish the research as set forth in that Central IRB-approved Master Protocol.

 

Site represents and warrants that it shall:

 

		a)	assume all responsibility to enroll and follow human
subjects participating in the Study according to the most recent approved version of the Master Protocol;

 

		b)	comply with all institutional and federal regulations
concerning informed consent;

 

		c)	confirm approval of the Master Protocol and subject
consent form(s) from the Central IRB prior to commencement of human subject research under a Task Order;

 

		d)	obtain local ancillary approval(s) as necessary;

 

		e)	follow all Site policies and procedures with respect
to the conduct of the activities under the Master Protocol; and

 

		f)	ensure regulatory compliance, as outlined in applicable
Food and Drug Administration (“FDA”) regulations.

 

		Article 8.	Notification; Material
Participant Information

 

Both Parties agree to promptly notify the other
in writing of information that they become aware of (such as results or findings from a monitoring visit) that could significantly
affect the safety or medical care of current or former subjects participating in the Study Regimen(s), significantly affect current
subjects’ willingness to continue participation, materially influence the conduct of the Study Regimen(s), or likely alter
the Central IRB’s approval. Site, through the Site Investigator and/or Site institutional representative as appropriate, shall
be responsible for informing subjects of any information received from MGH that could significantly affect safety or medical care
in accordance with the Central IRB-approved informed consent forms (“ICFs”) signed by participants and Master Protocol.
MGH agrees to not contact Site’s Study Regimen(s) participants unless authorized pursuant to the ICF. No other provision of this Agreement shall be construed to
override the provisions of this Article 7. This Section survives the expiration or termination of the Agreement.

 

    
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		Article 9.	Termination

 

This Agreement or a Task Order may be terminated in
whole or in part in any of the following cases:

 

		i.	 	by either Party upon thirty (30) days prior notice
to the other;

 

		ii.	 	by either Party immediately when such action is necessary
to protect the health, safety or welfare of human subjects; or

 

		iii.	 	by either Party upon a material breach of the Agreement
or Task Order and such breach is not able to be cured or has not been cured within thirty (30) days of written notice of such
breach.

 

Termination of a Task Order shall constitute termination
of the Task Order only and shall not affect this Agreement or any other Task Order hereunder.

 

In all cases, notice must be in written format and
provided to the Party’s contacts identified in Article 4.

 

For each terminated Task Order
Site shall be reimbursed for milestones, as outlined in each Task Order’s Payment Schedule, completed up to the date of termination
provided that Site promptly furnishes all required data and final reports related to the milestones completed up to the date of
termination.

 

Notwithstanding, if a Task Order
is terminated due to a deviation from the Master Protocol, payment will only be made for activities completed in accordance with
the Protocol prior to the date of such deviation.

 

		Article 10.	Audit and Records

 

Any pertinent technical documentation, books, documents,
papers, records, notebooks and data related to human subject research conducted by Site under a Task Order, including subject records,
(“Technical Records”) shall be retained by Site for a period of seven (7) years from Site’s receipt of its final payment
under a Task Order or as required by applicable law and regulation regarding clinical trials, whichever is longer. MGH will notify
Site in the event that the record retention period needs to be extended beyond seven (7) years and will provide reasonable costs
to support such retention. MGH, or any of their duly authorized representatives, upon reasonable advance notice and during normal
business hours, shall have access to and the rights to examine Technical Records, in accordance with the regulations set forth
in Article 10 herein, related to this Agreement.

 

Site shall maintain a separate, unique accounting
record for funds received and expenses incurred under a Task Order. Site shall retain substantiating financial documents, such
as bills, invoices, cancelled checks, and receipts (“Financial Records”), for a period not less than three (3) years
after Site’s receipt of its final payment under a Task Order, as specified in 45 CFR 75.361. MGH, or any of their duly authorized
representatives, and Company, upon reasonable advance notice and during normal business hours, shall have access to and the right
to examine Financial Records.

 

		Article 11.	Consultation with MGH
Personnel

 

During the Period of Performance of this Agreement,
MGH may require technical representatives to consult with Site Investigator regarding the Master Protocol and progress of the Study
under a specific Task Order. Such consultation shall take place either in person or by telephone at mutually agreeable times during
Site’s normal business hours.

 

    
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		Article 12.	Protection of Human Research Subjects

 

The Site agrees to comply with all applicable regulations
for the protections of human research subjects, including Good Clinical Practice, the International Conference on Harmonisation
Regulations E2A and E6, and 45 CFR Part 46, Subpart A, “Basic HHS Policy for the Protection of Human Subjects. Site must maintain
an active OHRP-approved Federal Wide Assurance (“FWA”) of compliance with HHS Regulations (45 CFR 46.103) for the protection
of human subjects through the Period of Performance and must submit evidence of such compliance to MGH upon request. Site shall
be responsible for carrying out all Master Protocol activities in accordance with the “Central IRB” Authorization Agreement
signed between MGH and Site.

 

		Article 13.	HIPAA Compliance

 

In the performance of a Study Regimen under a Task
Order, the Parties may receive or create certain health or medical information (“Protected Health Information” or “PHI”)
regarding human subjects. Should PHI be generated as a result of the performance of this Agreement, the Parties hereby certify
that the storage, use and disclosure of the PHI is in compliance with the Health Insurance Portability and Accountability Act of
1996 (“HIPAA”) and its accompanying regulations, including but not limited to the Standards for Privacy of Individually
Identifiable Health Information (“Privacy Rule”), at 45 CFR 160 and 45 CFR 164, and agrees that this Agreement is hereby
amended to include any future modifications or additions to these requirements, as appropriate.

 

		Article 14.	Human Participants Data
and Materials

 

Site will gather data from participants in the performance
of the Task Orders that Site is required to deliver to MGH pursuant to the Master Protocol: data from active treatment groups (“Study
Treatment Data”) and data from participants assigned to a placebo (“Study Placebo Data”).In addition, the Master
Protocol may also include data from the placebo group(s) of other clinical studies that are part of the HEALEY ALS Platform Trial
(“Healey Placebo Data”). Study Treatment Data, Study Placebo Data and Healey Placebo Data are collectively referred
to as “Study Data”. The Parties agree that Company and MGH own all Study Data, subject to written agreements between
MGH and Company and the restrictions outlined below.

 

MGH agrees, and will require Company to agree: (i)
to use and share Study Data in accordance with the ICF or any IRB-approved waiver of authorization and to the extent required to
comply with applicable law; (ii) to not contact any Study subjects unless permitted by the ICF; (iii) to not use or share individually
identifiable health information for any mailing list or for any marketing purpose; (iv) to comply in all material respects with
all applicable federal, state and local laws and regulations regarding the privacy of individually identifiable health information
(and its collection, use, storage, and disclosure), including, but not limited to, the Health Insurance Portability and Accountability
Act of 1996 and the regulations promulgated thereunder, as may be amended from time to time (“HIPAA”); and (v) to use
all reasonable efforts to protect the privacy and security of individually identifiable health information and require its business
partners and subcontractors to do so as well.

 

MGH will require Company to agree to grant Site the
right to use Site’s Study Data for: (i) publication purposes, consistent with Article 14; (ii) internal research and education;
(iii) patient care and (iv) to the extent required to comply with applicable law. Site will comply in all material respects with
all applicable federal, state and local laws and regulations regarding the privacy of individually identifiable health information
(including its collection, use, storage, and disclosure), including, but not limited to, HIPAA. Site will deliver Study Data to
MGH in a format required by the Master Protocol.

 

    
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Tangible Materials shall mean voice, tissue, and/or
biofluid samples from human subjects enrolled in the Study (together referred to as “Biosamples”), and any deoxyribonucleic
acid (“DNA”), induced pluripotent stem cells (“iPSCs”) and motor neurons (“MNs”) derived therefrom.
For clarity, Tangible Materials shall not include Company Drug or any metabolites thereof. MGH shall own all Tangible Materials.
MGH agrees, and will require Company to agree, to collect, use, store, and disclose Tangible Materials only in accordance with
the ICF or any IRB-approved waiver of authorization, and in any event will not collect, use, store, or disclose any individually
identifiable health information attached to or contained within the specimens/tissue in any manner that would violate this Agreement.

 

MGH may share de-identified, as defined by HIPAA,
Study Data and Tangible Materials with non-profit institutions for further research and educational research purposes outside of
the Study, subject to and as may be limited by agreements MGH has with Company. MGH certifies that such sharing will be consistent
with MGH policy, the ICF or any IRB-approved waiver of authorization, and applicable law and pursuant to a written agreement with
the recipient that contains appropriate terms and conditions regarding the privacy and security of human subjects derived data
and materials.

 

No other provision in this Agreement shall be construed
to override the provisions of this Article 13.

 

		Article 15.	Publications and Copyrights

 

Each Study Regimen is a multi-site study and a collaborative
publication is anticipated. Site agrees that it shall delay publication using its own Study Treatment Data until such time as the
collaborative publication is released or eighteen (18) months after the conclusion of the Study Regimen, whichever occurs first.
In order to ensure the integrity of meaningfulness of the platform trial model, Site agrees that they shall delay publication of
any Study Placebo Data or Healey Placebo Data until such time as the HEALEY ALS Platform Trial Executive Committee grants explicit
permission to publish it.

 

The HEALEY ALS Platform Trial Executive Committee
will determine a publication strategy and assume oversight of this Article 14. A “Study Publication” is any proposed
abstract, manuscript, presentation, publication or similar material containing Study Regimen Data.

 

		a.	Review and Authorship. All Study Publications must
comply with the terms and conditions of the Master Site Clinical Trial Agreement and are thus subject to review by the HEALEY
ALS Platform Trial Executive Committee, Study stakeholders and Company. Authorship shall be in accordance with the accepted ICMJE
standards.

 

		b.	Publication Approval. All Study Publications shall
be submitted to the HEALEY ALS Platform Trial Executive Committee for review and approval by the HEALEY ALS Platform Trial Executive
Committee at least forty-five (45) days prior to the submission of the Study Publication. Healey Center shall advise the Site
within forty-five (45) days of receiving any Study Publication if the Study Publication: (i) contains or discloses any potentially
patentable inventions (“Patentable Material”), or (ii) contains any Healey Center or Company Confidential Information.
Site will delete any Patentable Material or Confidential Information.

 

		c.	Company shall be entitled to review such Study Publications
solely for the purposes of reviewing for use of Company’s name, for identifying Company’s Confidential Information,
which shall be removed from the publication upon Company’s request; and to identify any patentable Inventions; and to provide
any other comments Company desires to provide, provided that MGH and the Healey ALS Platform Trial Executive Committee shall have
no obligation to address any such additional comments beyond considering them in good faith. Any Company may request that their name be included or omitted in a Study
Publication in accordance with acceptable standards and publication policies.

 

    
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In the event Site Investigator independently publishes
in accordance with this Article, Site agrees that the support of the Healey Center shall be acknowledged whenever research findings
funded in whole or in part by a Task Order are published. Site shall acknowledge the support of Healey Center whenever publicizing
the work based on, or developed under a Task Order, in any media, whether copyrighted or not, by including an acknowledgment substantially
as follows:

 

“This
investigation was supported by The Sean M. Healey and AMG Center for ALS, The ALS Association and (insert other supporters if
applicable – consult Healey Center Administrator).”

 

Site grants to MGH an irrevocable,
royalty-free, non-transferable, non-exclusive right and license to use, reproduce, make derivative works, display, and perform
publicly any copyrights or copyrighted material (including any computer software and its documentation and/or databases) first
developed and delivered under a Task Order for educational and research purposes, including the creation of derivative works.

 

		Article 16.	Intellectual Property

 

Ownership of inventions, discoveries, works of authorship,
and other developments existing as of the Effective Date and all patents, copyrights, trade secret rights and other intellectual
property rights therein (“Pre-existing Intellectual Property”) is not affected by this Agreement. No Party shall have
any claims to or rights in any Pre-existing Intellectual Property of the other Party, except as may be expressly provided in another
written agreement between the Parties.

 

“Invention” shall mean any new and useful
discovery, conceived and reduced to practice constructively or actually, by one or more employees or agents of Company, MGH or
Site in the performance of the Study. “Site Inventions” shall mean any Invention made solely by one or more employees
or agents of Site resulting from the performance of the Study. For clarity, Site Inventions shall not include any Company Inventions.
“MGH Invention” shall mean any Invention made solely by one or more employees of MGH in the performance of the Study.
“Company Inventions” shall mean any Invention made (i) solely by one or more employees of Company in the performance
of the Study; or that (ii) specifically and exclusively cover or claim the composition of matter of Company’s Drug or methods
of making, manufacturing, or new uses thereof. Site shall own all Site Inventions and Company shall own all Company Inventions.
Site shall not claim ownership of Company Inventions. Site shall promptly disclose in writing any Site and Company Inventions to
MGH.

 

Site hereby grants to MGH a perpetual, world-wide,
royalty-free, non-exclusive, and irrevocable license to practice any Site Inventions for the purpose of education and research
and to the extent required to perform the Study.

 

Site shall ensure that this Article 15 is applicable
to all persons who perform any part of the Study Regimen under a Task Order and who may be reasonably expected to make Site or
Company Inventions.

 

The Parties shall mutually agree in writing to the
management of inventions created jointly by MGH, Site and, if applicable, Company (“Joint Inventions”).

 

    
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		Article 17.	Confidentiality

 

“Confidential Information” shall mean
any business or proprietary information provided by one Party to the other and clearly identified as “Confidential” by
the transmitting Party at the time of disclosure. If such transmittal occurs orally, the transmitting
Party will within thirty (30) days reduce such transmittal to written form, mark and identify it as confidential, and provide such
record to the other Party. Notwithstanding the above, Confidential Information shall also include any information that a reasonable
person would conclude is the confidential and proprietary information of the disclosing Party and shall be treated in a manner
consistent with this Article 16.

 

In the event that a Party discloses Confidential
Information to the other under a Task Order, the receiving Party agrees to disclose the Confidential Information only on a need-to-know
basis to its employees, directors or other advisors or representatives who are subject to confidentiality obligations, to use the
Confidential Information only for the purposes contemplated by the Task Order and to use reasonable efforts to prevent its disclosure
to third parties.

 

However, the receiving Party may disclose
the Confidential Information if such information (i) was already in the public domain or becomes publicly available through
no wrongful act of receiving Party, (ii) was previously known or developed by the
receiving Party without any violation of existing confidentiality obligations, (iii) was known by receiving Party prior to
disclosure by disclosing Party, as evidenced by tangible records; (iv) becomes known to receiving Party after disclosure from
a third party having an apparent bona fide right to disclose it; (v) is independently developed or discovered by receiving
Party without use of disclosing Party’s Confidential Information, as evidenced by tangible records; or (vi) was
required to be disclosed by operation of law.

 

The Parties agree that each
Party retains ownership of the Confidential Information it provides to the other. The receiving Party shall promptly return the
disclosing Party’s Confidential Information upon request.

 

The obligations of this Article 16 shall survive
for a period of five (5) years from the date of disclosure. Notwithstanding the forgoing, the Parties agree that any Protected
Health Information shall be considered confidential in perpetuity.

 

		Article 18.	Independent Contractor

 

Site hereby acknowledges that all employees hired
by it, under or as a result of this Agreement, shall, during the Period of Performance of this Agreement, be deemed to be employees
of Site and, therefore, not entitled to any retirement or other fringe benefits from MGH.

 

Neither Party shall have authority to make any statements,
representations, nor commitments of any kind, or to take any action which shall be binding on the other Party, except as may be
explicitly provided for herein or authorized by the other Party in writing.

 

Site shall pay all debts for labor and materials
contracted by it, and for the rental of appliances and equipment hired by it, for and on account of, the work to be performed hereunder.
Site shall conform to all requirements of law and all other public authorities, state or local, relating to the methods or materials
to be used or to the persons to be employed in doing the work.

 

		Article 19.	Use of Name

 

Neither Party shall use the name of the other Party
or any adaptation thereof or the name of any staff member, employee, agent or student of the other Party in any advertising, promotional,
or sales literature or publicity without the prior written approval of the Party or individual whose name is to be used. However,
a Party may, without prior consent, use and/or disclose the other Party’s name as required by law, Court order, and regulation or for internal purposes.
For MGH, such approval must be obtained from the Public Affairs department, which may be reached here: http://www.massgeneral.org/news/contact.

 

    
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		Article 20.	Liability and Insurance

 

Each Party shall be responsible
for its negligent acts or omissions and the negligent acts or omissions of its employees, officers, and directors in the performance
of a Study Regimen under a Task Order and the administration of this Agreement, to the extent allowed by law.

 

Each Party agrees to maintain, for the duration
of this Agreement, insurance, or a program of self-insurance, in an amount that will be adequate to cover its respective obligations
hereunder, and, upon request, will provide the other Party proof of insurance showing that such insurance is in place.

 

		Article 21.	Study Drug

 

MGH shall be responsible for obtaining
from Company enough quantities of the study drug identified in the Task Order as may be required for Site to perform the Study
in accordance with the Study Regimen schedule (“Study Drug”). Site, through Site Investigator, will safeguard Study
Drug with the degree of care used for its own property and shall return or otherwise dispose of any remaining Study Drug at the
termination date of each Task Order in accordance with MGH’s instructions. Site shall not use any Study Drug for any purpose
other than the Study Regimen in which it was provided, unless otherwise agreed to in writing by the Parties. MGH will retain from
Company a representation and warranty that it is in compliance with federal, state, and local laws and regulations relating to
the manufacture and formulation of any investigational drug and to other materials supplied, and with other applicable legal requirements.

 

Each Task Order will include applicable flow down terms
from Company related to subject injury.

 

		Article 22.	Conflict of Interest

 

Site certifies that it has implemented and is enforcing
a written Conflict of Interest (“COI”) policy substantially similar to 42 CFR Part 50, Subpart F & 45 CFR Subtitle
A, Part 94. If a COI is identified by Site during the Period of Performance, Site will promptly report to MGH Administrator the
existence of the conflict, Task Order number, Site Investigator (if different from the investigator with the financial interest)
and the specific method Site adopts for addressing the conflict (managing, reducing or eliminating it).

 

		Article 23.	Compliance

 

Both Parties represent that through the Period of
Performance of this Agreement and Task Orders they will be and will remain compliant with all U.S. federal, state, national, provincial,
and local laws and regulations, as applicable.

 

		Article 24.	Amendment

 

This Agreement may be amended only by a written
instrument signed by authorized officials of both Parties.

 

		Article 25.	Transfer and Subcontracting

 

Site shall not transfer or subcontract any portion
of the Studies authorized pursuant to this Agreement without the prior written approval of MGH. Requests for transfer or subcontracting
will be reviewed and, as appropriate, approved by MGH in accordance with MGH polices.

 

    
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		Article 26.	Assignment

 

Site shall not assign any portion of the research
authorized pursuant to the Agreement or any part of this Agreement without the express written permission of MGH.

 

		Article 27.	Waiver

 

This Agreement may be amended and any of its terms
or conditions may be waived only by a written instrument signed by both parties or, in the case of a waiver, by the waiving party.
The failure of either party at any time or times to require performance or any provision of this Agreement shall not affect its
rights at a later time to enforce the same.

 

		Article 28.	Severability

 

If any provision(s) of this Agreement are to become
invalid, are ruled illegal by any court of competent jurisdiction or are deemed unenforceable under the current applicable law,
the parties intend that the remainder of this Agreement shall not be affected and that, for each such provision, there be substituted
or added as part of this Agreement provision(s) as similar as possible in economic and business objectives as intended by the parties.

 

		Article 29.	Titles

 

All the titles and headings contained in the Agreement
are inserted only as a matter of convenience and reference and do not define, limit, extend, or describe the scope of this Agreement
or the intent of any of its provisions.

 

		Article 30.	Counterpart Signatures

 

This Agreement may be executed in one or more counterparts,
each of which counterpart shall be deemed an original Agreement and all of which shall constitute one Agreement.

 

		Article 31.	Order of Precedence

 

The order of precedence for interpreting any inconsistencies
with respect to the legal and financial administration obligations of Site will be as follows: 1) Regimen Task Order; and 2) this
Agreement.

 

		Article 32.	Entire Agreement

 

This Agreement constitutes the entire understanding
between the Parties, and supersedes and replaces all prior agreements, understandings, writings and discussions between them, with
respect to the subject matter of this Agreement.

 

		Article 33.	Survival

 

The following Articles of this Agreement shall survive
the expiration or early termination of this Agreement, as allowed by law: Article 10. Audit and Records; Article 12. Data
and Materials; Article 13. Publications and Copyright; Article 14. Inventions and Patents; Article 16. Confidentiality;
Article 17. Protection of Human Subjects; Article 18. HIPAA Compliance; Article 20. Use of Name; Article 22.
Liability and Insurance; Article 24. Export Control; and Articles 29-39 in their entirety.

 

    
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IN WITNESS WHEREOF, the Parties have caused this Agreement
to be duly executed.

 

The General Hospital Corporation d/b/a

Massachusetts General Hospital

 

	 	 	 
	Name:	 	Name:
	 	 	 
	 	 	 
	 	 	 
	Title:	 	Title:
	 	 	 
	 	 	 
	 	 	 
	Date	 	Date

 

    
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APPENDIX A

 

STATEMENT OF WORK

 

Background

 

The Sean M. Healey & AMG Center for
ALS at Massachusetts General Hospital (“MGH”) has established the HEALEY ALS Platform Trial to expedite the investigation
of therapies that show promise in Amyotrophic Lateral Sclerosis (“ALS”). Platform trials are an innovative approach
to trial design that enable concurrent testing of multiple drugs under one protocol (“Master Protocol”).

 

For each Study Regimen to be tested under
the Master Protocol, MGH shall issue a Task Order under this Agreement. Each Task Order shall provide Site the additional detail
not otherwise covered under this Agreement – including the budget and funding source specific to that investigational product,
as well as a Regimen-Specific Appendix (“RSA”) that amends the Master Protocol with information specific to the investigational
product (if any).

 

MGH shall serve as the Clinical Coordination Center (“CCC”)
and Data Coordination Center (“DCC”) of all Study Regimens within the platform trial. MGH shall subcontract with certain
vendors to provide site monitoring and outcomes training services to Study Sites, and other centralized study services. MGH and
vendors are collectively referred to as the study “Coordination Center” below.

 

Responsibilities of Site

 

Site will be responsible for recruiting
and enrolling study subjects for participation. Informed consent will be obtained for each participant. Once informed consent has
been obtained, Site will be responsible for scheduling and performing all study visits and submitting all data via the Electronic
Data Capture (“EDC”) system.

 

In addition, the roles and responsibilities of the Site Investigator
and Site include, but are not limited, to:

 

		●	Fulfill all commitments outlined in the Statement of Investigator
(Form FDA 1572) for IND regulated regimen(s) or Investigator of Record Agreement (IoRA) for non-IND regulated regimen(s).

 

		●	Ensure that all study staff meet regulatory and training
requirements.

 

		●	Carry out all Master Protocol activities in accordance
with the Central IRB Authorization Agreement signed between the Partners Human Research Committee (PHRC) and the Clinical Site,
including reporting deviations, Adverse Events (AEs) and Serious Adverse Events (SAEs) for Central IRB review.

 

		●	Provide all documentation required for Clinical Site
Activation.

 

		●	Collect study data and samples and maintain documentation
in accordance with the Study Regimen(s) and study manual of procedures for the Study Regimen(s).

 

		●	Work with designated central vendors, as directed
by study Master Protocol, Manual of Procedures (MOP), and Coordination Center personnel.

 

		●	Prepare and send required reports (such as screening/enrollment
logs, etc.) to the Coordination Center.

 

		●	Communicate questions, concerns, and/or observations
to the MGH Principal Investigator and/or Coordination Center.

 

		●	Accommodate study monitoring, including providing
access to study documentation for review both remotely and in-person.

 

		●	Attend and participate in all routine site-related
Study meetings and conference calls (including Annual Platform Trial Meeting) and participate in Study committees.

    
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APPENDIX B

 

SAMPLE REGIMEN TASK ORDER

 

Task Order xx for Master Protocol
Number xxx              

 

This Task Order (“Task Order”)
is made pursuant to the Master Site Clinical Trial Agreement (“Agreement”) between The General Hospital Corporation
d/b/a Massachusetts General Hospital (“MGH”) and (“Site”), located at, dated the xxx day of xxx, 20xx
, which is incorporated by reference herein and made part of this Task Order.

 

WHEREAS, MGH has received support
in the form of Study Drug, defined below, from (“Company”) to conduct the Study Regimen, defined below.

 

WHEREAS, MGH has requested Site
and its employees to conduct such Study Regimen subject to the terms and conditions of this Task Order and the Agreement; and

 

WHEREAS, Site is equipped to perform
the Study Regimen and Site and Site Investigator have agreed to perform the Study Regimen requested by this Task Order, subject
to the terms and conditions of this Task Order and Agreement;

 

NOW, THEREFORE, in consideration of the premises and
the mutual promises and covenants expressed herein; the parties agree as follows:

 

		1.	Definitions. All capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to them in the Agreement, if any, attached hereto.

 

		2.	Study Regimen. MGH, has requested Site and its employees,
and [insert Site Investigator name] (“Site Investigator”), to conduct a Study Regimen involving the study drug
[insert study drug name] (“Study Drug”) according to the Master Protocol [insert Protocol Number] (“Master
Protocol”) entitled “[insert protocol title]” as amended by the Regimen-Specific Appendix (“RSA”)
to the Master Protocol [insert Master Protocol Appendix #], incorporated herein by reference as Exhibit A, and all subsequent
Master Protocol and RSA amendments.

 

		3.	Subject Injury. [TBD]

 

		4.	Budget and Compensation. The compensation and fees
to be paid by MGH for the Study Regimen pursuant to this Task Order are contained in the budget in Exhibit B, attached hereto
and incorporated by reference in this Task Order. Payment shall be due and payable in accordance with the schedule set forth in
Exhibit B.

 

		5.	Term. The term of this Task Order shall begin as
of the date of execution that the last Party signs below and shall end on ________[date] or the later of (i) 5 years or (ii) six
(6) months following final Regimen database freeze unless this Task Order is terminated in accordance with the Agreement. The
Parties agree that the term may be extended by mutual written agreement if events beyond the Parties’ control delay completion
of the Study Regimen beyond the expiration date.

 

    
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		6.	Notice: In addition to the individuals identified
under Article 4 of the MCTA (master Agreement), the following shall be provided notices pursuant to this Task Order:

 

To Site Investigator: [Insert Name and Address]

To Site Administrator:

 

		9.	Amendments. No modification, amendment, or waiver of this Task Order shall be
                                                                            effective unless in writing and duly executed by each party.

 

ACKNOWLEDGED, ACCEPTED AND AGREED TO:

 

The General Hospital Corporation

 

	Signature	 	 	Date	 	 
	 	 	 	 	 	 
	Site	 	 	 	 	 
	Signature	 	 	Date	 	 
	 	 	 	 	 	 
	Read & Agreed	 	 	 	 	 
	 	 	 	 	 	 
	Signature	 	 	Date	 	 
	Site Investigator	 	 	 	 	 

 

Attachments:

 

    
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APPENDIX B

 

SAMPLE REGIMEN TASK ORDER CONTINUED

 

Exhibit A

Master Protocol

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    
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APPENDIX B

 

SAMPLE REGIMEN TASK ORDER CONTINUED

 

Exhibit B

Budget and Payment Schedule

 

Regimen [#] Task Order | Budget

 

Each Task Order that is issued to incorporate a new Study Regimen,
shall include a budget in two parts:

 

O A per subject fee (PSF) budget grid that provides
payment as a fixed fee per assessment or study-related work performed.

 

O A fee schedule of Additional Budget Items that
are specific to the Study Regimen being added to the Master Protocol

 

Regimen [#] Task Order | Payment Schedule

 

O Per subject fee (PSF) payments shall be generated automatically
via the Site’s data entry into the study’s Electronic Data Capture (EDC) system and shall be based on work performed.

 

O Additional Budget Items shall be paid automatically by MGH
to Site upon completion of related milestones.

 

O All travel-related expenses shall be paid to site on a cost-reimbursable
basis upon receipt of Site Invoice.

 

    
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Consortium Agreement

Appendix C: Format for Invoices

 

	TO:	Subcontract Invoice Coordinator	Total Allocation: $
	 	Partners Research Management	Agreement number: _______
	 	399 Revolution Drive, Suite 745	 
	 	Somerville, MA 02145	 
	 	MGHsubinvoices@partners.org	 
	 	Date:	 

 

	Reimbursable Costs for the Period:	_______ To _______	 
	 	 	 
	Category	Current Period	To Date

 

	Start-up Payment	 	 
	 	 	 
	Total Direct Cost	_____________	_____________
	 	 	 
	Indirect Cost	_____________	_____________
	 	 	 
	Total Billed/Expended	 	 
	 	 	 
	Less Amount Previously Billed/Expended	_____________	 
	 	 	 
	Total Billed/Expended Current Period	_____________	 

 

By signing this invoice, I certify to the best of my knowledge
and belief that the invoice is true, complete, and accurate, and the expenditures, disbursements and cash receipts are for the
purposes and objectives set forth in the terms and conditions of the Federal award. I am aware that any false, fictitious, or fraudulent
information, or the omission of any material fact, may subject me to criminal, civil or administrative penalties for fraud, false
statements, false claims or otherwise. (U.S. Code Title 18, Section 1001 and Title 31, Sections 3729–3730 and 3801–3812).

 

	 	 
	Name:	 
	Title:	 

 

 

	Page | 16	MCTA-Healey Center	Insight record #233954Exhibit 4.4

 

FORM OF 

COMMON STOCK PURCHASE WARRANT

 

HALL
OF FAME RESORT & ENTERTAINMENT COMPANY

 

	Warrant Shares: [_______]	Initial Exercise Date: ______, 2020

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on
[_____], 20251 (the “Termination Date”) but not thereafter, to subscribe for and purchase from Hall
of Fame Resort & Entertainment Company, a company incorporated under the laws of the State of Delaware (the “Company”),
up to [___] shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock (as defined in
Section 1). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price(as defined
in Section 2(b)). This Warrant shall initially be issued and maintained in the form of a security held in book-entry form and the
Depository Trust Company or its nominee (“DTC”) shall initially be the sole registered holder of this Warrant,
subject to a Holder’s right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant Agency
Agreement, in which case this sentence shall not apply.

 

Section 1. Definitions.
In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on
a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as
applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock
are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices),
the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a
share of Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest
of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the
Company.

 

“Board
of Directors” means the board of directors of the Company.

 

 

 

1
Insert the date that is the 5th year anniversary of the Initial Exercise Date; provided, however, that,
if such date is not a Trading Day, insert the immediately following Trading Day. 

     

     

    

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries 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.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Registration
Statement” means the Company’s registration statement on Form S-1, as amended (File No. 333-249133).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).

 

“Transfer
Agent” means Continental Stock Transfer and Trust Company, the current transfer agent of the Company, with a mailing
address of [ ] and a facsimile number of [_______________], and any successor transfer agent of the Company.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of October [__], 2020 among the Company and Maxim Group LLC, as
representative of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its
terms.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most
recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of
Common Stock as determined by an independent appraiser selected in good faith by the holders of a majority in interest of the Warrants
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

    2

     

    

 

“Warrant
Agency Agreement” means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between the
Company and the Warrant Agent.

 

“Warrant
Agent” means the Transfer Agent and any successor warrant agent of the Company.

 

“Warrants”
means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

 

Section 2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Warrant Agent of a duly executed
facsimile copy (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).
Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as
defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise
Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United
States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise.
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. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Warrant Agent until the Holder has purchased all of the Warrant Shares available hereunder and the
Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Warrant Agent for cancellation
within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Warrant Agent. Partial exercises
of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect
of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant
Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date
of such purchases. The Company shall use its reasonable best efforts to deliver any objection to any Notice of Exercise within
three (3) Business Days of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and
agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder,
the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face
hereof.

 

Notwithstanding the foregoing in
this Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing this Warrant
held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall effect exercises
made pursuant to this Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the appropriate instruction
form for exercise, complying with the procedures to effect exercise that are required by DTC (or such other clearing corporation,
as applicable), subject to a Holder’s right to elect to receive a Definitive Warrant pursuant to the terms of the Warrant
Agency Agreement, in which case this sentence shall not apply.

 

    3

     

    

 

b) Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $[_____]2, subject to adjustment
hereunder (the “Exercise Price”).

 

c) Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not current, then this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless
exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing
((A-B)(X)) by (A), where:

 

		(A) =	as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant
to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on
a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated
under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal
Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise
if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two
(2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant
to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
“regular trading hours” on such Trading Day;

 

		(B) = 	the Exercise Price of this Warrant, as adjusted hereunder;
and

 

		(X) =	the number of Warrant Shares that would be issuable upon
exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

In connection
with clause (ii) in (A) above, upon written request of the Company, the Holder will provide evidence reasonably acceptable to the
Company of the Bid Price of the Common Stock on the principal Trading Market that was reported by Bloomberg L.P. as of the time
of the Holder’s execution of the applicable Notice of Exercise.

 

If Warrant Shares
are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities
Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to
take any position contrary to this Section 2(c).

 

 

 

2 Insert [__]% of the
price of each share of common stock sold in the Offering.

    4

     

    

 

d) Mechanics
of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with
The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company
is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the
Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and
otherwise by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or
its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified
by the Holder in the Notice of Exercise on a date as soon as practicable with the goal of such transmission occurring by the date
that is the earliest of (i) two (2) Trading Days after the delivery to the Warrant Agent of the Notice of Exercise, (ii) one (1)
Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days comprising the
Standard Settlement Period after the delivery to the Warrant Agent of the Notice of Exercise (such as soon as practicable date,
the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for
all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised,
irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than
in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason
to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall
pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise
(based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20
per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant
Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a
transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used
herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading
Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the
Notice of Exercise.

 

ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise by notifying the Company of such
rescission within ten (10) days of delivering the Notice of Exercise.

 

iv. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

    5

     

    

 

v. Charges,
Taxes and Expenses. The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company
or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the
Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

 

vi. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution
Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes
of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution
Parties shall include the number of shares of Common Stock issuable upon 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 (i) exercise of the remaining,
nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii)
exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation,
any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its Affiliates or Attribution Parties.  Except as set forth in the preceding sentence,
for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination and shall have no liability for exercises of
this Warrant that are not in compliance with the Beneficial Ownership Limitation, provided this limitation of liability shall
not apply if the Holder has detrimentally relied on outstanding share information provided by the Company or the Transfer Agent.
In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d)
of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the
number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected
in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent
public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the
number of shares of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within two
Trading Days confirm orally and in writing 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 or its Affiliates or Attribution Parties since the date as of which such
number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99%
(or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder,
upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided
that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until
the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or
any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained
or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained
in this paragraph shall apply to a successor holder of this Warrant.

    6

     

    

 

Section 3. Certain
Adjustments.

 

a) Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).

 

c) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "Distribution"),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in
such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if
ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

    7

     

    

 

d) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization 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, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to
apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor
Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after,
the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental
Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value
of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided,
however, if the Fundamental Transaction is not within the Company's control, including not approved by the Company's Board
of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity, as of the date of consummation
of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at the Black Scholes Value
of the unexercised portion of this Warrant, that is being offered and paid to the holders of Common Stock of the Company in connection
with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether
the holders of Common Stock are given the choice to receive from among alternative forms of consideration in connection with the
Fundamental Transaction. “Black Scholes Value” means the value of this Warrant
based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”)
determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free
interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and
the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public announcement
of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the sum of the
price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental
Transaction and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental
Transaction and the Termination Date. The payment of the Black Scholes Value will be made by wire transfer of immediately available
funds within five Business Days of the Holder’s election (or, if later, on the effective date of the Fundamental Transaction).
The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor
Entity”) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions
of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by
the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to
the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar
in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant
(without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise
price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of
the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number
of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately
prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder.
Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that
from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the
obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.

 

    8

     

    

 

e) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall
be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon
such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice
or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

g) Voluntary
Adjustment By Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term
of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for
any period of time deemed appropriate by the board of directors of the Company.

 

    9

     

    

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in
part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Warrant Agent unless the Holder has assigned this
Warrant in full, in which case, the Holder shall surrender this Warrant to the Warrant Agent within three (3) Trading Days of the
date on which the Holder delivers an assignment form to the Warrant Agent assigning this Warrant in full. The Warrant, if properly
assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant
issued.

 

b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial
issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

c) Warrant
Register. The Warrant Agent (or, in the event a Holder elects to receive a Definitive Certificate (as defined in the Warrant
Agency Agreement), the Company) shall register this Warrant, upon records to be maintained by the Warrant Agent (or, in the event
a Holder elects to receive a Definitive Certificate, the Company) for that purpose (the “Warrant Register”),
in the name of the record Holder hereof from time to time. The Company and the Warrant Agent 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.

 

Section 5. Miscellaneous.

 

a) No
Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

    10

     

    

 

d) Authorized
Shares.

 

The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without
violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

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 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 (i) 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, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) 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.

 

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.

 

e) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors,
officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York. Each party 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, 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, that such suit, action
or proceeding is improper or is an inconvenient venue for such proceeding. Each party 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 party at the address in effect for notices to it under
this Warrant 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 other manner permitted by law. If either party shall
commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or
proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and expenses incurred
with the investigation, preparation and prosecution of such action or proceeding.

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, [and the Holder
does not utilize cashless exercise,] will have restrictions upon resale imposed by state and federal securities laws.

 

    11

     

    

 

g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any
material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder or Warrant Agent to the Company
shall be in writing and delivered personally, or e-mail, or sent by a nationally recognized overnight courier service, addressed
to the Company, at 2626 Fulton Drive, NW, Canton, OH 44718, Attention: Michael Crawford, email address: michael.crawford@HOFvillage.com,
or such other facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders.
Any notice, statement or demand authorized by this Agreement to be given or made by the Holders hereunder or by the Company to
or on the Warrant Agent shall be in writing and delivered personally, or e-mail, or sent by a nationally recognized overnight courier
service, (until another address is filed in writing by the Warrant Agent with the Company), as follows: Continental Stock Transfer
& Trust Company, One State Street, 30th Floor, New York, NY 10004, Attention: Compliance Department. Any and all notices or
other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile
or electronic transmission, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile
number, email address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries
hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or via email at the email address set forth in this Section prior to 5:30 p.m.
(New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number or via email at the email address set forth in this Section on a day that is not
a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date
of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such
notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public
information regarding the Company or any subsidiaries, the Company shall file such notice with the Commission pursuant to a Current
Report on Form 8-K as soon as practicable and no later than 4 Business Days after providing such notice hereunder.

 

i) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

j) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

    12

     

    

 

k) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
and the Holder or the beneficial owner of this Warrant, on the other hand.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

o) Warrant
Agency Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued
subject to the Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions of the
Warrant Agency Agreement, the provisions of this Warrant shall govern and be controlling.

 

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

 

	 	HALL OF FAME RESORT & ENTERTAINMENT COMPANY
	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    13

     

    

 

NOTICE OF EXERCISE

 

To: Continental
Stock Transfer and Trust Company

 

(1) The
undersigned hereby elects to purchase ________ Warrant Shares of Hall of Fame Resort & Entertainment Company (the “Company”)
pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in
full, together with all applicable transfer taxes, if any.

 

(2) Payment
shall take the form of (check applicable box):

 

☐ in lawful money of the United
States; or

 

☐ if permitted the
cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3) Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

 

The Warrant Shares shall be delivered to the
following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

     

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)
	 	 
	Phone Number:	______________________________________
	 	 
	Email Address:	______________________________________
	 	 
	Dated: _______________ __, ______	 
	 	 
	Holder’s Signature: ______________________ 	 
	 	 
	Holder’s Address:   ______________________

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