Document:

Exhibit 10.22

 

***Certain identified information has been omitted
from this exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the Registrant if publicly disclosed.
Such omitted information is indicated by brackets (“[...***...]”) in this exhibit. ***

 

IND SPONSOR: NHLBI

 

Intramural
Clinical Trial Agreement

 

For Clinical Trials Conducted at the National
Institutes of Health Clinical Center

BETWEEN

National Heart, Lung, and Blood Institute

Part of the

National Institutes of Health

(“NIH”)

and

Jasper Therapeutics, Inc.

(hereinafter referred to as the “Company”)

titled

Phase I and II Study on the Addition of CD117 Antibody to Alemtuzumab, Low Dose

Irradiation, and Sirolimus in Matched Related Donor Transplantation in Beta-Globin

Disorders

 

     

     

    

 

The National Heart, Lung, and Blood Institute,
an institute of the NIH, an agency of the U.S. Department of Health and Human Services

 

(hereafter, referred to as “NHLBI”),

 

on behalf of its employee, Dr. John Tisdale

 

(hereafter, referred to as the “NHLBI Investigator”),

 

and the Company, having an office at 2200
Bridge Parkway, Ste. 102, Redwood City, CA 94065 (each individually a “Party”, and collectively the “Parties”),
have agreed to cooperate in the conduct of collaborative research related to a clinical trial to be held at the NIH Clinical Center, in
Bethesda, Maryland, titled “Phase I and II Study on the Addition of CD117 Antibody to Alemtuzumab, Low Dose Irradiation, and
Sirolimus in Matched Related Donor Transplantation in Beta-Globin Disorders.”

 

This Agreement sets forth the terms and conditions
under which this protocol will be conducted and the clinical trial will be managed.

 

The Company and NHLBI agree as follows:

 

		1.	DEFINITIONS

 

The terms listed in this Section have
the meanings indicated throughout this Agreement. To the extent a definition of a term as provided in this Section is inconsistent with
a corresponding definition in the applicable sections of either the United States Code (U.S.C.) or the Code of Federal Regulations (C.F.R.),
the definition in the U.S.C. or C.F.R. will control.

 

		1.1.	“Adverse Event” (AE) means any untoward medical occurrence in a Human Subject
to whom the Test Article has been administered. An AE does not necessarily have a causal relationship with the Test Article, that is,
it can be any unfavorable and unintended sign (including an abnormal laboratory finding), symptom, or disease temporally associated with
the use of the Test Article, whether or not it is related to it. Adverse Event is further defined in ICH E6 section 1.2 and 21 C.F.R 312.32.

 

		1.2.	“Affiliates” With respect to the Company, “Affiliates” means,

 

		(i)	any legal entity of which the securities or other ownership interests representing fifty per cent (50%)
or more of the equity or fifty per cent (50%) or more of the ordinary voting power or fifty per cent (50%) or more of the general partnership
interest are, at the time such determination is being made, owned, controlled or held, directly or indirectly, by such legal entity, or,

 

		(ii)	any legal entity which, at the time such determination is being made, is controlling or under common control
with, such legal entity.

 

As used herein, the term “control”,
whether used as a noun or verb, refers to the possession, directly or indirectly, of the power to direct, or cause the direction of, the
management or policies of a legal entity, whether through the ownership of voting securities, by contract or otherwise.

 

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		1.3.	“Agreement” means this Clinical Trial Agreement or “CTA”, all executed
amendments and supplements to this Agreement and all schedules to this Agreement.

 

		1.4.	“Case Report Form” (CRF) means the data collection form(s) to be completed for
each Human Subject participating in the Clinical Trial.

 

		1.5.	“Certificate of Confidentiality” (CoC) means a certificate issued by NIH pursuant
to Section 301(d) of the Public Health Service Act (42 U.S.C. 241(d)), that protects the privacy of Human Subjects enrolled in the Protocol.
With limited exceptions defined in 42 U.S.C. 241(d), the CoC protects from disclosure names or any information, documents or biospecimens
containing ISI collected under a Protocol conducted under this CTA.

 

		1.6.	“Clinical Research Site” means the NIH Clinical Center, their contractors, and Investigators
at Bethesda, Maryland, USA where the Clinical Trial will be conducted in strict accordance with the Protocol.

 

		1.7.	“Clinical Study Report” in accordance with ICH E6 Section 1.13, is a written description
of a Clinical Trial in which the clinical and statistical description, presentations, and analyses are fully integrated into a single
report. The Clinical Study Report contains information on results including reactogenicity, AEs, immunogenicity and other clinical or
laboratory observations made with respect to the intervention employed in conducting the trial. A detailed description of the contents
of a Clinical Trial Report is found in ICH E3 “Structure and Content of Clinical Study Reports.”

 

		1.8.	“Clinical Trial” is defined by the NIH as a research study in which one or more human
subjects are prospectively assigned to one or more interventions (which may include placebo or other control) to evaluate the effects
of those interventions on health-related biomedical or behavioral outcomes. Rules and regulations are codified at 45 CFR 46.102(d) and
(f). In this Agreement, Clinical Trial means the Clinical Trial for the Protocol.

 

		1.9.	“Completion of the Clinical Trial” the Clinical Trial is complete when all data analyses
under the Protocol have been performed and the Clinical Study Report has been submitted to the FDA.

 

		1.10.	“Confidential Information” means confidential scientific, proprietary, business, or
financial information provided that Confidential Information does not include:

 

		(a)	information that is within the public domain prior to the time of the disclosure by the disclosing Party
to the receiving Party or thereafter becomes within the public domain other than as a result of disclosure by the receiving Party or any
of its representatives in violation of this Agreement;

 

		(b)	information that was, on or before the date of disclosure in the possession of the receiving Party without
an obligation of confidentiality;

 

		(c)	information that is acquired by the receiving Party from a third party not under an obligation of confidentiality;

 

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		(d)	information that is hereafter independently developed by the receiving Party, without reference to the
Confidential Information received from the disclosing Party;

 

		(e)	information that the disclosing Party expressly authorizes the receiving Party to disclose.

 

		(f)	information that is reasonably required by scientific standards for publication of the results of the
Clinical Trial (including Clinical Trial methods and/or data) or any information that is necessary for other researchers to verify the
results of the Clinical Trial; or

 

		(g)	information that relates to potential hazards or cautionary warnings associated with the production, handling,
or use of the Test Article.

 

		1.11.	“Data and Safety Monitoring Board or Committee” (DSMB or DSMC) is an independent
group of experts that advises NHLBI and the Investigators. The primary responsibilities of the DSMB are to:

 

		(i)	to periodically review and evaluate the accumulated data of the Clinical Trial for participant safety,
Clinical Trial conduct and progress, and when appropriate, efficacy; and,

 

		(ii)	to make recommendations to NHLBI concerning the continuation, modification, or termination of the Clinical
Trial.

 

		1.12.	“Effective Date” means the date of the last signature of the authorized representatives
of the Parties executing this Agreement.

 

		1.13.	“Food and Drug Administration” (FDA) means the U.S. Food and Drug Administration.

 

		1.14.	“Government” means the federal government of the United States of America.

 

		1.15.	“Human Subject” means, in accordance with the definition in 45 C.F.R. § 46.102(f),
a living individual about whom an Investigator conducting research obtains:

 

		(a)	Data through intervention or interaction with the individual; or

 

		(b)	Identifiable Private Information.

 

		1.16.	“Identifiable Private Information” (IPI) means private information about a Human
Subject from which the identity of the Human Subject is or may readily be ascertained. Regulations defining and governing this information
include 45 C.F.R. Part 46 and 21 C.F.R. Part 50.

 

		1.17.	“Identifiable, Sensitive Information” (ISI) means, in accordance with the definition
of 42 U.S.C. 241(d)(4), information that is about an individual and that is gathered or used during the course of research as described
in 42 U.S.C. 241(d)(1)(A) through which an individual is identified, or that includes IPI, or for which there is at least a very small
risk, as determined by current scientific practices or statistical methods, that some combination of the information, a request for the
information, and other available data sources could be used to deduce the identity of an individual.

 

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		1.18.	“Informed Consent Form” means a signed and documented form in which each Human Subject
voluntarily consents or confirms his or her willingness to participate in a particular clinical trial after having been informed of all
aspects of the trial that are relevant to the subject’s decision to participate. The informed consent form satisfies the requirements
of ICH E6, 45 C.F.R. Part 46 and 21 C.F.R. Part 50.

 

		1.19.	“Institutional Review Board” (IRB) means, in accordance with 45 C.F.R. Part
46, Protection of Human Subjects (Revised November 13, 2001) and 21 C.F.R. Part 56, Subpart C: IRB Functions and Operations (as amended
June 18, 1991), and other applicable regulations, an independent body comprising medical, scientific, and nonscientific members, whose
responsibility is to ensure the protection of the rights, safety, and well-being of the Human Subjects involved in a Clinical Trial. It
may also be referred to as an Independent Ethics Committee in accordance with ICH E6, Section 1.27.

 

		1.20.	“The International Conference on Harmonization of Technical Requirements for Registration of
Pharmaceuticals for Human Use” (ICH). ICH refers to one or all of the following requirements used throughout this Agreement:

 

		(a)	ICH E2F: “Development Safety Update Report”, including the latest finalized revision,
if any.

 

		(b)	ICH E3: “Structure and Content of Clinical Study Reports”, including the latest finalized
revision, if any.

 

		(c)	ICH E6: “Good Clinical Practice: Consolidated Guidance”, published in the Federal register
(62 Federal Register 25692 (1997)), including the latest finalized revision. Also referred to as “FDA Good Clinical Practice
Guidelines”.

 

		(d)	ICH Q7: “Good Manufacturing Practice Guide for Active Pharmaceutical Ingredients” published
in the Federal register (66 Federal Register 49028-9 (2001)), including the latest finalized revision, if any.

 

		1.21.	“Invention” means any invention or discovery that is or may be patentable or otherwise
protected under Title 35 of the United States Code, or any novel variety of plant which is or may be protectable under the Plant Variety
Protection Act, 7 U.S.C. §§ 2321 et seq.

 

		1.22.	“Investigational New Drug Application” (IND) is filed in accordance with 21
C.F.R. Part 312 under which clinical investigation of a Test Article (an experimental drug or biologic) is performed in Human Subjects
in the United States or intended to support a United States licensing action.

 

		1.23.	“Investigator” means, in accordance with 21 C.F.R. § 312.3, an individual who
actually conducts a clinical trial, that is, who directs the administration or dispensation of Test Article to a subject, and who assumes
responsibility for studying Human Subjects, for recording and ensuring the integrity of research data, and for protecting the welfare
and safety of Human Subjects. In this Agreement, “Investigator(s)” means the individual(s) identified as responsible for the
conduct of the Clinical Trial at the Clinical Research Site.

 

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		1.24.	“Investigator Brochure” (IB) means, in accordance with the definition in 21
C.F.R. § 312.23(a)(5), a document containing information about the Test Article, including animal screening, preclinical toxicology,
and detailed pharmaceutical data, including a description of possible risks and side effects to be anticipated on the basis of prior experience
with the Test Article or related drugs, and precautions, such as additional monitoring, to be taken as part of the investigational use
of the Test Article.

 

		1.25.	“Office of Human Research Protections” (OHRP) means the HHS office that oversees protection
of human subjects from research risks under 45 C.F.R. Part 46 (the Common Rule).

 

		1.26.	“Party” means an entity entering into this Agreement, referred to individually as the
“Party” and collectively as the “Parties”.

 

		1.27.	“Patent” means any issued United States patent, any international counterpart and any
corresponding grant by a non-U.S. government in place of a patent.

 

		1.28.	“Protocol” means the formal, detailed description of the Clinical Trial to be performed
as provided in the Protocol titled “Phase I and II Study on the Addition of CD117 Antibody to Alemtuzumab, Low Dose Irradiation,
and Sirolimus in Matched Related Donor Transplantation in Beta-Globin Disorders.” A Protocol describes the objective(s), design,
methodology, statistical considerations, and organization of a clinical trial. For the purposes of this Clinical Trial, the term Protocol
includes any and all associated documents, including informed consent forms, to be provided to Human Subjects and potential participants
in the Clinical Trial. This Clinical Trial Agreement will be governed by the most recent version of the Protocol, and should this Agreement
be executed prior to complete finalization of the Protocol, the last-dated version thereof will be considered to be incorporated by reference
in place of any prior versions. In the event that there is a conflict between the terms of the Protocol and the terms of the Agreement
in other matters, the terms of this Agreement will govern.

 

		1.29.	“Protocol Team” means the team, under the direction of NHLBI, responsible for the development
and management of the Protocol, evaluation of data, proposal of amendments, and all issues related to the Protocol or aspects of Protocol
development and modification. The Protocol Team will include the representatives from the Company, if they wish to participate, the Principal
Investigators, representatives from NHLBI, and the persons involved with statistical and data analysis for the Clinical Trial. Participation
on the Protocol Team will be as agreed by the Parties and will take into account any special requirements of the Protocol design.

 

		1.30.	“Serious AE” or “Serious SAR” means an AE or SAR that in the view
of either the Investigator or Sponsor, results in any of the following outcomes:

 

		(a)	Death,

 

		(b)	A life-threatening AE,

 

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		(c)	Inpatient hospitalization or prolongation of existing hospitalization,

 

		(d)	A persistent or significant incapacity or substantial disruption of the ability to conduct normal life
functions, or

 

		(e)	A congenital anomaly/birth defect, or

 

		(f)	Important medical events that may not result in death, be life-threatening, or require hospitalization,
but, based upon appropriate medical judgment, they may jeopardize the patient or subject and may require medical or surgical intervention
to prevent of the outcomes (a) through (e).

 

		1.31.	“Sponsor” means, in accordance with the definition in 21 C.F.R. § 312.3, an organization
or individual who assumes legal responsibility for supervising or overseeing Clinical Trials with Test Article, and is sometimes referred
to as the “IND holder”. The Sponsor for the Protocol is NHLBI.

 

		1.32.	“Suspected Adverse Reaction” or “SAR” means any AE for which there
is a reasonable possibility that the drug caused the AE. For the purposes of IND safety reporting, “reasonable possibility”
means there is evidence to suggest a causal relationship between the drug and the AE. Suspected Adverse Reaction is further defined in
21 C.F.R. § 312.32.

 

		1.33.	“Test Article” means, in accordance with 21 C.F.R. § 50.3(j), any drug (including
a biological product), medical device, food additive, color additive, electronic product, material or any other article subject to regulation
under the Federal Food, Drug, and Cosmetic Act, 21 U.S.C. §§ 301, et seq., Pub. L.No.75-717, 52 Stat. 1040 (1938), as
amended. In this Agreement, JSP-191 is collectively referred to as the “Test Article”.

 

		1.34.	“Unexpected Adverse Event” or “Unexpected Suspected Adverse Reaction”
means an AE or SAR which is considered “unexpected” because it is not listed in the Investigator Brochure or is not listed
at the specificity or severity that has been observed; or, when an Investigator Brochure is not required or available, is not consistent
with the risk information described in the general investigational plan or elsewhere in the current application. Unexpected Adverse Event
and Unexpected Suspected Adverse Reaction are further defined in 21 C.F.R. § 312.32.

 

		2.	CLINICAL RESEARCH SITE AND INVESTIGATORS

 

		2.1	NHLBI will not knowingly utilize:

 

		2.1.1	Any organization performing services in connection with this Clinical Trial that has been:

 

		(i)	Debarred under the provisions of the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335a(a) and
(b); or,

 

		(ii)	Suspended by the Office for Human Research Protections (OHRP) as a clinical research site under 45 C.F.R.
Part 46; and,

 

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		2.1.2	Any person convicted of a felony under federal law for conduct:

 

		(i)	Relating to the development or approval, including, but not limited to, the process for development or
approval, of any drug, product, medical device, New Drug Application (NDA), Pre-Market Application (PMA), 510(k) or IND or similar application;
or,

 

		(ii)	Otherwise relating to the regulation of any drug product or medical device under the FD&C Act.

 

		(iii)	Any person performing services in connection with this Clinical Trial that has been disqualified as a
clinical investigator under 21 C.F.R. § 312.70.

 

		(iv)	Any Investigator who is not qualified by training and experience as an appropriate expert to conduct the
Clinical Trial, as required under 21 C.F.R. § 312.53.

 

		2.2	If either Party becomes aware that any organization or person involved in the Clinical Trial is debarred,
threatened with debarment, disqualified, threatened with disqualification, or suspended, that Party will notify the other Party immediately.

 

		2.3	NHLBI will conduct the Clinical Trial in accordance with good clinical practice, including as defined
by the ICH and comply with all applicable U.S. and foreign government, state and local laws, regulations and guidelines.

 

		2.4	Company agrees that this Protocol will be conducted only at the Clinical Research Site. However, Company
can conduct, at its own expense and under its own IND, additional Clinical Trials with the Test Article, at non-NHLBI-funded sites. Company
agrees to inform NHLBI in writing of any other Clinical Trials it may support for the use of the Test Article that would compete with
this Clinical Trial for the same Human Subject population. Company asserts that the Test Article constitutes proprietary technology.

 

		3.	INVESTIGATIONAL NEW DRUG APPLICATION SPONSORSHIP

 

		3.1.	IND. NHLBI will submit an IND covering the Protocol to the FDA. The IND will satisfy all of the
requirements of the FDA. Company will provide a letter granting the FDA permission to cross-reference the Company’s pertinent Drug
Master File (DMF), New Drug Application (NDA), Biologics License Application (BLA), and/or INDs in support of the NHLBI for the limited
purpose of the IND, and in return, NHLBI will also provide a letter to the Company, if requested, granting the FDA permission to cross-reference
the IND filed by NHLBI for this Clinical Trial.

 

		3.2.	Company holds only IND under which the Protocol(s) will be conducted. During and for a period of
[...***...] after the completion of a Protocol, the Company shall promptly provide to NHLBI any information that Company has
reasonably determined could directly affect the health or safety of past or current Human Subjects or influence the conduct of the Protocol.
Such information may arise from any source, for example, safety reports provided to the FDA, study results, information in site monitoring
reports or data safety monitoring committee reports. NHLBI shall be free to communicate the relevant safety information to each Human
Subject and the IRB.

 

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		3.3.	Protocol Monitoring. NHLBI will be responsible for Clinical Research Site monitoring and quality
assurance of all data in accordance with the clinical monitoring plan. Monitoring will be done in compliance with FDA Good Clinical Practice
Guidelines (ICH) (E6). NHLBI, subject to the restrictions in the Certificate of Confidentiality Obligations section, will communicate
any clinically significant findings from clinical monitors to Company in a timely manner.

 

		3.4.	Safety Reporting

 

		3.4.1.	NHLBI will collect safety reports according to the procedure outlined in the Protocol. NHLBI will assume
responsibility for the reporting of safety reports to the FDA and will provide copies of the reports to Company.

 

		3.4.2.	

 

		(i)	For any safety report that meets all of the following criteria of: (i) Serious (ii) Unexpected and (iii)
Suspected Adverse Reaction, NHLBI will provide to Company a completed copy of the safety report at the time the report is submitted to
the FDA, NHLBI will provide follow up information to Company at the time the follow up safety report is submitted to FDA. The reporting
will be completed in the timeframes consistent with 21 CFR § 312.32.

 

		(ii)	NHLBI will report all other Serious and non-serious AEs to the FDA and to Company on a timely basis consistent
with 21 C.F.R. § 312.33.

 

		3.4.3.	As the manufacturer, Company will, in a timely manner consistent with FDA requirements and during the
term of this Clinical Trial, provide NHLBI with any information it now has or may obtain in the future regarding the safety and/or the
toxicity of Test Article.

 

		3.5.	Safety Monitoring. In accordance with NIH guidelines, Company and NHLBI agree that the following
type(s) of safety monitoring is (are) necessary and appropriate for this Clinical Trial:

 

Data and Safety Monitoring Board
(DSMB). If a DSMB is constituted for the Clinical Trial, NHLBI will notify Company in advance of any DSMB review. Company may
participate in and will receive the open session reports of the DSMB. The recommendations derived from the closed sessions will also be
communicated to Company. Prior to the Completion of the Clinical Trial, data and reports distributed for DSMB review will be used only
for the purposes of the DSMB meeting and will be held in confidence by the DMSB.

 

		4.	FDA MEETINGS/COMMUNICATIONS

 

		4.1	With respect to any discussions with the FDA involving data obtained from this Clinical Trial under NHLBI’s
IND, NHLBI, in consultation with Company, will take the initiative in arranging meetings or conference calls with the FDA. Formal meetings
with the FDA concerning the Clinical Trial design and/or data will be discussed and agreed upon in advance by Company and NHLBI. Company
will have the right to participate in all formal meetings with the FDA. Company agrees not to contact the FDA independent of NHLBI concerning
this Clinical Trial. However, Company may contact the FDA on separate product-related issues.

 

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		4.2	Company will promptly notify NHLBI of any FDA correspondence related to the Protocol that is received
by Company, or its Affiliates; any FDA enforcement actions directed toward Company or its Affiliates, including but not limited to: warning
letters, seizures, recalls, injunctions/consent decrees, rejection of regulatory submissions or withdrawal of approval for a Test Article,
criminal investigations, and proceedings to debar Company or its Affiliates or individuals employed under a contract to Company and/or
its Affiliates.

 

		4.3	Company will also promptly notify NHLBI of any action taken by the FDA regarding manufacturing of the
Test Article that would impact the safety of Human Subjects in the Clinical Trial.

 

		5.	SUPPLY, DISTRIBUTION, AND USE OF TEST ARTICLE

 

		5.1.	Supply.

 

NHLBI will provide Company with an estimate
of the quantity of Test Article that will be required to complete the Protocol.

 

		5.1.1	Company will supply the Test Article to NHLBI [...***...] and in quantities and conditions sufficient
to complete the Protocol and on a schedule mutually agreed upon by the Parties to ensure a sufficient supply of unexpired Test Article.

 

		5.1.2	Company will be responsible for labeling the Test Article used in the Clinical Trial.

 

		5.2.	Distribution.

 

		5.2.1	Company will ship the Test Article to the Clinical Research Site as mutually agreed by the Parties. Company
will provide specific storage and/or shipping instructions for the Test Article to NHLBI, who will be responsible for adhering to them,
as mutually agreed by the Parties. Company warrants that any packaging for hazardous material provided by Company meets Department of
Transportation regulatory requirements for use at the Clinical Research Site.

 

		5.2.2	The Test Article must be received by the Clinical Research Site in usable condition and accompanied by
Material Safety Data Sheet (MSDS), specific storage and shipping instructions, stability and/or expiration dating information and the
finally signed and dated Certificate of Analysis (COA) for each lot of Test Article sent. If Company performs ongoing stability testing
for each lot of Test Article sent, then Company will also provide updated retest or expiration dates for those respective lots to NHLBI
in a timely manner.

 

		5.2.3	If there is evidence that the Test Article that arrived at the Clinical Research Site has not been maintained
according to the defined shipping instructions or there is evidence of damage to the Test Article container or container closure system,
NHLBI will contact Company to inform them of the condition of the received Test Article and to determine together with the Company whether
the Test Article is usable or if it must be replaced. During the course of the Clinical Trial, the same process will be used whenever
there is evidence that the Test Article has not been maintained according to Company’s recommended storage conditions. If the Test
Article must be replaced, Company will replace it at [...***...] to NHLBI.

 

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		5.3.	Use.

 

		5.3.1	NHLBI will neither transfer the Test Article to any third party nor will NHLBI chemically modify, replicate,
make derivatives of, or reverse engineer the Test Article unless required by the Protocol or mutually agreed in writing by the Parties.

 

		5.3.2	NHLBI will request that the Investigator:

 

		(i)	use the Test Article only in accordance with the Protocol and for no other purpose;

 

		(ii)	not transfer the Test Article to any parties except Company; and

 

		(iii)	not chemically modify, replicate, make derivatives of, or reverse engineer the Test Article unless required
by the Protocol or as mutually agreed to, in writing, by the Parties.

 

		5.4.	Investigator Brochure. Company will provide a current Investigator Brochure for all applicable
components of the Test Article, and any later revisions and addenda to the Investigator Brochure for the Test Article to NHLBI, as mutually
agreed by the Parties, who will agree to keep them in confidence in accordance with Section 11 (Confidential Information) of this Agreement.

 

		5.5.	Warranty. Company represents and warrants that the Test Article supplied shall be manufactured
and released according to the principles of current Good Manufacturing Practice and when administered in accordance with Protocol it is
suitable for human use.

 

		5.6.	Source. In the event Company elects to terminate its development of Test Article for reasons other
than safety, without the transfer of its development efforts and obligations under this Agreement to another party acceptable to NHLBI
within [...***...] of discontinuation, then Company will provide NHLBI with Test Article for all then-enrolled Human Subjects
sufficient to complete the Clinical Trial in the manner described in the Protocol.

 

		5.7.	Termination of Development. Company hereby grants to NHLBI a nonexclusive, nontransferable, irrevocable,
paid-up license to practice or have practiced for or on behalf of the United States any invention which Company may have or obtain on
Test Article, its manufacture, or on the process for use of Test Article, throughout the world, for medical research purposes related
to the Protocol for the sole purpose of completing the Clinical Trial. This license will only become effective in the event Company terminates
its development of Test Article for reasons other than safety or IRB approval withdrawal, without the transfer of its development efforts
to another party within [...***...] of termination, and NHLBI elects to continue the development of Test Article. This provision
will become null and void upon FDA approval of the Test Article indications and marketing of the Test Article by Company.

 

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		6.	PROTOCOL DEVELOPMENT

 

		6.1	The Parties agree that enrollment in the Clinical Trial will not start until the version of the Protocol
to be used has been reviewed in advance by the Protocol Team; approved (stipulations met/resolved) by the relevant IRB(s) and NHLBI in
writing; and submitted to the FDA, the thirty (30) calendar day wait period has been satisfied and any FDA clinical hold issues have been
responded to satisfactorily. The Protocol is a product of NHLBI and will be deemed NHLBI Confidential Information, as defined in Section
11 (Confidential Information) of this Agreement.

 

		6.2	The Parties agree that any alteration in or amendment to the Protocol must be accepted by the Protocol
Team, and approved in writing by the relevant IRB(s) and NHLBI and submitted to the FDA, if appropriate, prior to such alteration or amendment
becoming effective. Company will review any amendments or alterations to the Protocol and NHLBI will consider such comments in good faith
in finalizing such amendments or alterations.

 

		7.	CASE REPORT FORM DEVELOPMENT

 

NHLBI or its designee will be responsible
for the development and subsequent revisions, if any, of the Case Report Forms with appropriate review and comment by the Protocol Team.

 

		8.	HUMAN SUBJECTS PROTECTION

 

		8.1	NHLBI and Company recognize the principles of respect for persons, beneficence (including minimization
of harms and maximization of benefits), and justice as stated in the Belmont Report and will apply these principles in all research covered
under this Agreement. The informed consent of each Human Subject participating in the Clinical Trial at the Clinical Research Site will
be obtained prospectively using an IRB approved informed consent process. The informed consent document may be reviewed in advance by
Company and will be approved by NHLBI and all appropriate Institutional Review Board (IRB). NHLBI will consider in good faith any comments
provided by Company.

 

		8.2	NHLBI and Company acknowledge and accept their responsibilities for protecting the rights and welfare
of human research subjects set forth in 45 C.F.R. Part 46, Protection of Human Subjects (Revised January 19, 2017).

 

Therefore:

 

		8.2.1.	NHLBI will maintain the confidentiality of IPI of Human Subjects collected under the Clinical Trial and
protect the privacy of each of the individual Human Subjects in the Clinical Trial unless disclosure is required by law. Company will
not have access to any IPI of Human Subjects collected under the Clinical Trial.

 

		8.2.2.	NHLBI may inspect, but not copy, Human Subjects’ medical records that might also include information
not directly connected to this Clinical Trial. However, NHLBI agrees that this information will remain confidential and will not be used
for any purpose other than confirmation of Clinical Trial data.

 

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		8.2.3.	NHLBI agrees not to include IPI that could lead to identification of individual Human Subjects in any
release of data, reports or publications related to the Clinical Trial.

 

		8.2.4.	NHLBI agrees not to use IPI about Human Subjects for any purpose not stated in the Protocol without the
consent of Company and local site IRB approval.

 

		8.2.5.	NHLBI and Company agree to comply with the determinations of all IRBs overseeing this research.

 

		8.2.6.	Human Subject specimens or data provided to Company during or after the Clinical Trial will be coded.
Unequivocally, neither IPI nor the key linking coded data or specimens to Human Subjects will be released to Company.

 

		9.	DATA ANALYSIS AND MANAGEMENT, CLINICAL SPECIMENS AND ISOLATES

 

		9.1	NHLBI will be responsible for the data, and scientific reporting of all results/data obtained from the
Clinical Trial at the Clinical Research Site.

 

		9.2	NHLBI will have responsibility for the data management: collection, entry, and quality control edits (with
implied verifications and documentation) and analysis of data obtained from the Clinical Trial in accordance with the Protocol.

 

		9.3	All data obtained from the Clinical Trial will be in the custody of NHLBI. However, NHLBI will not use
the data obtained from the Clinical Trial for purposes of seeking regulatory approval without first obtaining the prior written permission
of the Company.

 

		9.4	Upon completion of the data analyses, NHLBI will authorize transfer to Company a copy of the complete
data analysis set in a machine-readable format to be determined jointly by the Parties. If Company requires that the data be provided
to it in any customized format(s), Company will [...***...] associated with the customized data format(s). When applicable,
compressed raw and intermediate genomics and/or other -omics data will be provided in industry/scientific community accepted data formats
(e.g. FASTQ and/or BAM format for RNA-Sequence transcriptomics studies) at the time of data generation or transfer. Light-weight derived
data such as gene expression values per sample will be provided in SAS format.

 

		9.5	NHLBI is responsible for sending a final Clinical Study Report to Company and the FDA as applicable, according
to specified content within a reasonable time after the dataset is locked.

 

		9.6	Subject to the right of NHLBI to publish the data from this Clinical Trial as set forth in Section 10
(Publications and Press Releases) of this Agreement, Company has the right to utilize the data reports in its possession and all de-identified
data obtained from this Clinical Trial for all legitimate business or regulatory purposes, and NHLBI agrees to promptly provide all such
data to Company in accordance with Section 9.4. NHLBI and Company may provide any information regarding the Clinical Trial to governmental
organizations including, but not limited to, the FDA, and the Securities and Exchange Commission (SEC), for all legitimate public health,
regulatory, or business purposes. Except for information related to regulatory or safety issues or under emergency circumstances where
it is not practicable to do so and to the extent permitted by law, NHLBI will not release information regarding the Clinical Trial to
governmental organizations without prior notification of the release information to the Company.

 

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		9.7	For applicable clinical trials, NHLBI will post applicable primary and/or secondary endpoint results within
[...***...] of the last visit for primary and/or secondary end point evaluations. Therefore, data that will be provided by the
Company for primary or secondary outcomes (i.e. immunogenicity analysis) will be provided to NHLBI no later than [...***...]
after the last visit of the last patient evaluated for the primary endpoint.

 

		9.8	Clinical Specimens for Use in Protocol. All clinical specimens and isolates collected under this
Clinical Trial will be and remain in the custody of NHLBI. However, NHLBI will provide Company with clinical specimens and isolates for
analysis as stated in the Protocol. Company agrees to share with NHLBI results derived from the analysis of clinical specimens and isolates.

 

		9.9	Clinical Specimens for Use in Future Research. At the Company’s request, and with the written
approval of the appropriate NHLBI authorizing official, NHLBI will, only when available and as permitted by the Informed Consent Form,
provide Company with some aliquots of clinical specimens, identified only by Clinical Trial subject number and accompanied by related
encoded data for future studies. As stated in Section 8 (Human Subjects Protection) of this Agreement, NHLBI will provide to Company only
encoded data and encoded samples and will not provide the link between the code and the Human Subjects. For clarification purposes, NHLBI
will not provide any IPI to Company. Nothing in this Agreement will be interpreted to transfer ownership to Company.

 

		9.10	Upon completion of the studies involving clinical specimens or upon the termination of this Agreement,
whichever comes first, any unused clinical specimens and data derived from Human Subjects in the Company’s possession will be destroyed
unless NHLBI gives Company directions for disposing of the clinical specimens and data by another means.

 

		10.	PUBLICATIONS and PRESS RELEASES

 

		10.1	Any publications based on the results of the Clinical Trial and originating from NHLBI will conform to
NIH publication policies. Unless requested otherwise by Company, NHLBI will acknowledge Company as the source of the Test Article in any
NHLBI publication resulting from the Clinical Trial.

 

		10.2	Recognizing that employees of either Party may play an important role in the design, analysis, and interpretation
of the findings of the Clinical Trial, each Party will include appropriate individuals from the other Party in the authorship of publications
resulting from the Clinical Trial, in accordance with the generally accepted customs pertaining to authorship.

 

Each Party will provide the other Party
with a copy of any abstract, scientific meeting presentation, or manuscript prior to submission for publication with sufficient time
[Abstracts: [...***...]; Manuscripts: [...***...] for review and comment]. Each Party agrees that,
following the receiving Party’s review of the abstract and/or manuscript for the maximum periods of time specified above, if
no comment is received by the submitting Party, the submitting Party will be free to publish, present or use any Clinical Trial
data. The receiving Party will maintain the proposed publication or public disclosure of the submitting Party as Confidential
Information until publication or public disclosure by the submitting Party.

 

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		10.3	If Company requests additional time to file a patent application related to the publication: The publication
or other disclosure may be delayed for up to [...***...], upon written request by either Party as necessary to preserve U.S.
or foreign patent or other intellectual property rights.

 

		10.4	Each Party will provide a copy of any proposed press release to the other Party for review and comment
at least [...***...] in advance of proposed publication. Each Party agrees that, following the receiving Party’s review
of the proposed press release for the maximum periods of time specified above, if no comment is received by the submitting Party, the
submitting Party will be free to publish the press release.

 

		11.	CONFIDENTIAL INFORMATION

 

		11.1	Certificate of Confidentiality Obligations. Any ISI that Company receives from NHLBI is covered
by a CoC and therefore all copies of ISI are immune from the legal process, and will not, without the consent of the Human Subject, be
admissible as evidence or used for any purpose in any action, suit, or other judicial, legislative, or administrative proceeding.

 

Notwithstanding the forgoing, Company
will be permitted to disclose ISI:

 

		(a)	If required by Federal, State, or local laws (e.g., as required by the Federal Food, Drug, and Cosmetic
Act, or state laws requiring the reporting of communicable diseases to State and local health departments), excluding instances of disclosure
in any Federal, State, or local civil, criminal, administrative, legislative, or other proceeding;

 

		(b)	If the consent of the Human Subject to whom the information, document, or biospecimen pertains obtained
by NHLBI allowed for such disclosure.

 

		(c)	Prior to making any permitted disclosures above, Company will ensure that any recipient of ISI protected
by a CoC is aware of its confidential nature and the requirement to comply with the CoC (see https://humansubjects.nih.gov/coc/background).

 

		11.2	Either Party may disclose and/or receive Confidential Information under the terms and conditions of this
Agreement. Each receiving Party will limit its disclosure and use of the disclosing Party’s Confidential Information to the amount
necessary to conduct the Clinical trial, and will place a confidentiality notice on all the Confidential Information. The disclosing Party
will reduce confidential non-written communications to writing within [...***...] of first disclosure. Each Party receiving
Confidential Information agrees that any information so designated will be maintained as Confidential Information in accordance with this
Agreement and used by it only for the purposes of the Clinical Trial. Any Party may object to the designation of information as Confidential
by the other Party.

 

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		11.3	Unless expressly provided otherwise, neither Party will disclose, copy, reproduce or otherwise make the
disclosing Party’s Confidential Information available to any other person or entity without the consent of the disclosing Party
unless required by a court or administrative body of competent jurisdiction, the Freedom of Information Act (FOIA), 5 U.S.C. § 552,
45 C.F.R. Part 5, or other applicable laws and/or regulations to disclose the Confidential Information, except that NHLBI may disclose
Company’s Confidential Information to other parties, as required for the conduct of the Clinical Trial for purposes of the Clinical
Trial. NHLBI will request such parties receiving Company’s Confidential Information to maintain the confidentiality of Confidential
Information consistent with the terms of this Agreement.

 

		11.4	Each Party will use the same level of care it uses with its own Confidential Information, but no less
than a reasonable level of care, in maintaining the confidentiality of the other Party’s Confidential Information. While NHLBI will
endeavor to control the distribution of the Protocol document itself, Company acknowledges that some Government documents are available
(with abstracts) to the public under the Freedom of Information Act. In addition, NHLBI requires the posting of information on the ClinicalTrials.gov
registry of clinical studies, available through the NIH Website, consistent with the Food and Drug Administration Amendments Act of 2007,
121 STAT. 823.

 

		11.5	Each Party agrees that the receiving Party is not liable for the disclosure of Confidential Information
which, after notice to and consultation with the disclosing Party, the receiving Party determines may not be lawfully withheld, provided
the disclosing Party has been given an opportunity to seek a court order to enjoin from disclosure.

 

		11.6	Each Party’s obligation to maintain the confidentiality of Confidential Information will expire
at the earlier of the date when the information is no longer Confidential Information as defined above or [...***...] after
the expiration or termination date of this Agreement. Either Party may request an extension to this term when necessary to protect Confidential
Information relating to [...***...].

 

		12.	INTELLECTUAL PROPERTY

 

		12.1	Ownership of any Invention conceived solely or jointly by NHLBI as a consequence of conducting the Clinical
Trial and involving the Test Article, will be determined under U.S. laws pertaining to intellectual property created in the course of
federally funded research. Neither Party acquires by virtue of this Agreement any right, title, nor interest in or to any issued Patents
or pending patent applications owned or controlled by the other Party. Nothing in this Agreement will be construed as granting any license
or obligation to license any intellectual property owned by Company to NHLBI with respect to the Test Article other than the limited right
to use the Test Article for the performance of the Protocol in accordance with the terms of this Agreement.

 

		12.2	NHLBI Intellectual Property.

 

		12.2.1	The Government will retain title to any Patent, pending patent applications or other intellectual property
rights in Inventions conceived solely by NHLBI employees in the course of the clinical research.

 

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		12.2.2	NHLBI agrees to notify Company of any NHLBI sole or joint Invention and to disclose it to Company under
an appropriate confidentiality agreement. Company may apply for nonexclusive or exclusive license rights to any such patentable Invention
made by NHLBI employees that might arise during the clinical research and NIH will consider in good faith Company’s application
for a nonexclusive or exclusive license consistent with 37 C.F.R. Part 404. NHLBI does not have the authority to grant present rights
in future NHLBI-owned inventions, however, granting internal-use research licenses is within the mission of NHLBI. NHLBI agrees that if
the Parties enter a Cooperative Research and Development Agreement (CRADA) that relates to the subject matter of this Agreement, it will
include terms to be negotiated then that provide to the Company (i) a non-exclusive, royalty-free, internal-use research license, and
(ii) a first and exclusive option for Company to negotiate for a royalty-bearing exclusive license (or, at Company’s election, non-exclusive
license) to any sole or joint Invention for commercial use, in all cases subject to and consistent with 37 C.F.R. Part 404.

 

		12.3	Company Intellectual Property. Company will retain title to any Patents, pending patent applications,
or other intellectual property rights in Inventions conceived by its employees during the course of the clinical research.

 

		12.4	Joint NHLBI-Company Intellectual Property. NHLBI and Company will have joint intellectual property
rights in Inventions conceived jointly by their employees during the course of the clinical research. Company may apply for an exclusive
license to NHLBI rights in such Inventions in accordance with the 37 CFR 404, which application will be considered in good faith by NHLBI.

 

		13.	FORCE MAJEURE

 

Neither Party will be liable for any
unforeseeable event beyond its reasonable control not caused by the fault or negligence of such Party, which causes such Party to be unable
to perform its obligations under this Agreement, and which it has been unable to overcome by the exercise of due diligence. In the event
of the occurrence of such a force majeure event, the Party unable to perform will promptly notify the other Party. It will further use
its best efforts to resume performance as quickly as possible and will suspend performance only for such period of time as is necessary
as a result of the force majeure event.

 

		14.	LIABILITY, INDEMNIFICATION, INSURANCE & RESEARCH RELATED INJURY

 

		14.1	Liability. In view of the Anti-Deficiency Act, 31 U.S.C § 1341, NHLBI cannot agree to indemnify
Company for its losses. Each Party will be liable for the losses, claims, damages, or liabilities that it incurs as a result of its activities
under this Agreement except that NHLBI, as an agency of the Government, assumes liability only to the extent provided under the Federal
Tort Claims Act, 28 U.S.C. Ch. 171.

 

		14.2	Indemnification.  Company will defend, indemnify and hold harmless NHLBI, and its grantees and
contractors and their respective agents and employees (“Indemnitee(s)”) from any and all liabilities, damages, losses, claims,
action, suits and expenses, including attorneys’ fees and court costs (collectively “Claims”) to the extent caused by
the administration or use of the Test Article in the Clinical Trial. Company’s control over the defense and settlement of any claim
against NHLBI will be subject to the consent of NHLBI and the Department of Justice. The Indemnitee(s) will at all times have the right
to fully participate in the defense of any Claim at their own expense and for their own account. Company’s obligation to so indemnify
Indemnitee(s) will only apply if each of the following conditions is met:

 

		14.2.1	The Claim was not proximately caused by the Indemnitee(s)’ failure to conduct the Clinical Trial
in accordance with the Protocol and this Agreement;

 

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		14.2.2	The Claim was not caused by the negligence, recklessness, willful misconduct of any Indemnitee or violation
of law or regulation or breach of this Agreement by NHLBI, provided that any action properly taken by the Indemnitee in compliance with
the Protocol or written instructions from the Company will be deemed, for purposes of this condition, not to be negligent, and provided
further that if a Claim is jointly caused by the negligence of any Indemnitee and the administration or use of the Test Article, then
Company will provide defense and indemnification to the extent the Claim was caused by the administration of the Test Article;

 

		14.2.3	The Claim was not caused by any alteration in or amendment to the Protocol that was not approved in writing
by Company;

 

		14.2.4	The Company is promptly notified of the Claim;

 

		14.2.5	The Company will have the ability to participate jointly with the Department of Justice in the defense
and settlement of the claim, subject to the requirements of 28 U.S.C. 516, 518, and 519;

 

		14.2.6	The Company will have the right to select its own defense counsel to undertake the joint defense and settlement
of the Claim.

 

		14.3	The Company will provide a diligent defense against and/or settlement of any Claims for which defense
and indemnification are provided under this Agreement whether such claims are rightfully or wrongfully made. The Company will have the
right to settle such Claims, at the Company’s sole expense and in the Company’s sole discretion. Indemnitee(s) will fully
cooperate, at the Company’s expense, with the Company and its legal representatives in the investigation and defense of any Claim
for which defense and indemnification are provided under this Agreement.

 

		14.4	Insurance. Company represents and warrants that it will maintain during the term of this Agreement
or the Protocol, whichever is longer, a liability insurance policy or a program of insurance or self-insurance at levels sufficient to
support the indemnification obligations assumed under this Agreement and to cover the costs of medical care required to treat or stabilize
adverse reactions suffered by Human Subjects who received Test Article in accordance with the approved Protocol. Upon request, Company
will provide evidence of its insurance or self-insurance to NHLBI.

 

		14.5	Human Subject Injury or Illness Attributable to the Test Article. Company will pay the reasonable
cost of medical care required by Human Subjects for illness or injury attributable to the Test Article, to the extent such costs are (i)
not covered by the Human Subject’s medical or hospital insurance or by third party or governmental programs providing such coverage,
and (ii) not the result of the Human Subject’s pre-existing abnormal medical condition or underlying disease to the extent that
the Human Subject failed to disclose such pre-existing abnormal medical condition or underlying disease and the pre-existing medical condition
or underlying disease was part of the exclusion criteria, or gross negligence by NHLBI. For purposes of this determination and Company’s
obligation under this Agreement, “attributable” means that the receipt of the Test Article and the Clinical Trial Human Subject’s
illness or injury are reasonably related in time, and the illness or injury is more likely explained by the receipt of the Test Article
than any other cause. The payment or offer of payment of any amount by Company on behalf of a Human Subject or his or her healthcare insurer
or other third party payer under this Section is not an admission of fault or liability by any one or more of (a) the Government or any
agency thereof; or (b) Company, its employees or agents, and any such payment or offer of payment will not be considered a waiver of any
defense or other legal right by any of the foregoing in any legal, administrative or similar proceeding.

 

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		14.6	Limitation on Liability. In no event shall Company be liable to NHLBI or any third party for any
special incidental or consequential damages arising out of or relating to this Agreement, or the subject matter hereof, however caused
and whether such claim is based in contract, tort (including negligence and strict liability) or otherwise, even if authorized representative
of Company is advised of the possibility of such damages. Except for Company’s indemnification obligations hereunder, the total,
cumulative liability of Company arising out of or related to this Agreement shall not exceed [...***...] U.S. dollars ($[...***...]).

 

		14.7	Disclaimer. Except as specifically stated in Section 5.5 or in representations or warranties made
elsewhere in this Agreement, the Test Article is provided “AS IS” and “WITH ALL FAULTS”, Company expressly disclaims
any warranties, express or implied, of any kind, including any implied warranties of merchantability, fitness for a particular purpose
or noninfringement of intellectual property rights of third parties.

 

		15.	DISPUTES

 

Any dispute arising under this Agreement
that is not disposed of by Agreement of the Parties will be submitted jointly to the signatories of this Agreement. If the signatories
are unable to jointly resolve the dispute within [...***...] after notification thereof, the dispute will be referred to the
Director of NHLBI (or his/her designee) and an appropriate authorized representative of Company for resolution. If the Director of NHLBI
(or his/her designee) and the authorized representative of Company are unable to jointly resolve the dispute within [...***...],
either Party may pursue any and all administrative or judicial remedies that may be available.

 

		16.	INDEPENDENT CONTRACTORS

 

In the performance of all work under
this Agreement, neither Party is authorized or empowered to act as agent for the other for any purpose and will not, on behalf of the
other Party, enter into any contract, warranty, or representation as to any matter. Neither Party will be bound by the acts of the other
Party.

 

		17.	NON-ENDORSEMENT

 

By entering into this Agreement, NHLBI
does not directly or indirectly endorse any product or service provided, or to be provided, by Company. Company will not in any way state
or imply that this Agreement is an endorsement of those product(s) or service(s) by the Government or any of its organizational units
or employees. However, Company may reference or use publications and reports based on the Clinical Trial for legitimate business and regulatory
purposes.

 

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		18.	AMENDMENTS

 

Modifications to this Agreement will
not be effective unless made in writing, as mutually agreed, and signed by a duly authorized representative of each Party.

 

		19.	SURVIVABILITY

 

The provisions of Sections 2 (Clinical
Research Site and Investigators), 3 (Investigational New Drug Application Sponsorship), 4 (FDA Meetings/Communications), 5 (Supply, Distribution,
and Use of Test Article), 8 (Human Subjects Protection), 9 (Data Analysis and Management, Clinical Specimens and Isolates), 10 (Publications
and Press Releases), 11 (Confidential Information), 12 (Intellectual Property), 14 (Liability, Indemnification, Insurance and Research
Related Injury), 17 (Non-Endorsement) and this Section 19 (Survivability); will survive the expiration or earlier termination of this
Agreement.

 

		20.	ENTIRE AGREEMENT AND SEVERABILITY

 

This Agreement constitutes the entire
Agreement and understanding of the Parties with respect to the subject matter hereof and supersedes any prior understanding or written
or oral Agreement. The provisions of this Agreement are severable and, in the event that any provision of this Agreement will be determined
to be invalid or unenforceable under any controlling body of law, such determination will not in any way affect the validity and enforceability
of the remaining provisions of this Agreement.

 

		21.	ASSIGNMENT

 

Neither this Agreement nor any rights
or obligations of any Party hereunder will be assigned or otherwise transferred by either Party without the prior written permission of
the other Party, provided, however, that Company, with prior written notice to NHLBI, may assign this Agreement at any time without the
consent of NHLBI to any Affiliate of Company or to any third party in connection with a sale of all or substantially all of the business
or assets of Company that relate to this Agreement to such third party, provided that the assignee commits to continuing the supply of
the Test Article until completion of the Clinical Trial.

 

		22.	APPLICABLE LAW

 

This Agreement will be construed in
accordance with Federal law as applied by the Federal courts of the District of Columbia.

 

		23.	TERM AND TERMINATION

 

		23.1	Unless terminated sooner in accordance with this Section 23, this Agreement will expire upon receipt of
the final study report by Company.

 

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		23.2	The Parties may terminate this Agreement at any time by mutual written consent.

 

		23.3	Either Party may unilaterally terminate this Agreement at any time by giving written notice at least thirty
(30) calendar days prior to the desired termination date.

 

		23.4	The Parties may agree that this Agreement should be terminated prior to completion of the Protocol. However,
the Protocol will be completed if medically or ethically appropriate. In that event, each enrolled Human Subject will be followed through
the period outlined in the Protocol and Company will supply enough Test Article to complete the Protocol.

 

		23.5	In the event Company elects to terminate its obligations under the terms of this Agreement, due to an
unexpected dissolution, Company must notify NHLBI within at least thirty (30) calendar days of the dissolution; and, provide NHLBI with
the resources necessary to complete the Protocol in addition to the terms of Section 5 above.

 

		24.	NOTICES

 

Any notice or report required under
the terms of this Agreement will be sent to the other Party at the addresses indicated below. Any notice will be deemed to be effective
when delivered to the other Party by courier, registered mail (with return receipt), via facsimile, Portable Document Format (PDF), or
email followed by conformational hard copies when requested.

 

For NHLBI:

	
     

    For legal matters:
	 	Office of Technology Transfer and Development

National Heart, Lung, and Blood Institute

National Institutes of Health

Building 31, Room 4A29, MSC 2479

31 Center Drive

Bethesda, MD 20892-2479
	 	 	 
	For technical/clinical

matters:	 	John F. Tisdale, M.D.

Cellular and Molecular Therapeutics Branch

National Heart, Lung, and Blood Institute

National Institutes of Health

[...***...]

10 Center Drive

Bethesda, MD 20814

[...***...]

For Company:

	
     

    For legal matters:
	 	[...***...]

Jasper Therapeutics, Inc.

2200 Bridge Parkway, Ste. 102

Redwood City, CA 94065

[...***...]
	 	 	 
	For technical/clinical

matters:	 	[...***...]

Jasper Therapeutics, Inc.

2200 Bridge Parkway, Ste. 102

Redwood City, CA 94065

 

SIGNATURES BEGIN ON THE NEXT PAGE

 

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This Agreement may be executed in counterparts,
each of which shall be an original as against either Party whose signature appears thereon, but all of which taken together shall constitute
but one and the same instrument. An executed facsimile or electronic scanned copy of this Agreement shall have the same force and effect
as an original.

 

If Company agrees with the terms of this Agreement
for the Clinical Trial in accordance with the Protocol entitled “Phase I and II Study on the Addition of CD117 Antibody to Alemtuzumab,
Low Dose Irradiation, and Sirolimus in Matched Related Donor Transplantation in Beta-Globin Disorders”, please have an authorized
representative sign below.

 

	FOR Nhlbi:
	 
	Duly Authorized:	 	Read and Understood by the NHLBI Investigator:
	/s/ Richard
    Childs	

         

        I hereby
        acknowledge that I have read and understand the terms of this Agreement.

	
    Signature of NHLBI Authorizing Official #1

     
	 	 
	2/11/2021	/s/ John Tisdale__John Tisdale, MD
	Date	Signature of NHLBI Investigator
	 	 	 
	Richard Childs. M.D.	 	 
	Name of NHLBI Authorizing Official #1	02/05/2021
	 	Date
	Clinical Director. DIR. NHLBI	 	 
	Title of NHLBI Authorizing Official #1	 	 
	 
	/s/ Bruce D. Goldstein -S	 	 
	Signature of NHLBI Authorizing Official #2	 	 
	 	 	 
	02.05.2021	 	 
	Date
	 
	Bruce Goldstein, Esq.	 	 
	Name of NHLBI Authorizing Official #2	 	 
	 	 
	Director, Office of Technology Transfer and Development, NHLBI	 	 
	Title of NHLBI Authorizing Official #2	 	 

 

	FOR Company:
	 	 	 
	Duly Authorized:	 	Bill Lis
	 	 	Name of Company’s Authorizing Official
	 	 	 
	/s/ William Lis	 	Chief Executive Officer
	Signature of Company’s Authorizing Official	 	Title of Company’s Authorizing Official
	 	 	 
	2/11/2021                           	 	 
	Date	 	 

 

	
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INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT
(the “Agreement”) is made and entered into as of ____________ between Jasper Therapeutics, Inc., a Delaware corporation
(the “Company”), and ______________ (“Indemnitee”).

 

WITNESSETH THAT:

 

WHEREAS, highly competent
persons have become more reluctant to serve corporations as directors, officers or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their
service to and activities on behalf of the corporation;

 

WHEREAS, the Board
of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified individuals,
the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company
and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice
among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and
trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors,
officers and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming
litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
itself. The Bylaws and Certificate of Incorporation of the Company require indemnification of the officers and directors of the Company.
Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”).
The Bylaws and Certificate of Incorporation and the DGCL expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Board, officers and other
persons with respect to indemnification;

 

WHEREAS, the uncertainties
relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

 

WHEREAS, the Board
has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s
stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

 

WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons
to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that
they will not be so indemnified;

 

WHEREAS, this Agreement
is a supplement to and in furtherance of the Bylaws and Certificate of Incorporation of the Company and any resolutions adopted pursuant
thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

     

    

    

 

WHEREAS, Indemnitee
does not regard the protection available under the Company’s Bylaws and Certificate of Incorporation and insurance as adequate in
the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires
Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf
of the Company on the condition that he or she be so indemnified; and

 

[WHEREAS, Indemnitee
has certain rights to indemnification and/or insurance provided by ________________ (“Fund”), which Indemnitee and
Fund intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as provided herein, with the Company’s
acknowledgement and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve on the Board.]

 

NOW, THEREFORE, in
consideration of Indemnitee’s agreement to serve as an officer or director from and after the date hereof, the parties hereto agree
as follows:

 

1. Indemnity
of Indemnitee. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such
may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof:

 

(a) Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in
this Section l(a) if, by reason of his or her Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to
be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of the Company.
Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by him, or on his or her behalf, in connection with such Proceeding
or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be
in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe
the Indemnitee’s conduct was unlawful.

 

(b) Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 1(b)
if, by reason of his or her Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
brought by or in the right of the Company. Pursuant to this Section 1(b), Indemnitee shall be indemnified against all Expenses
actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee
acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided,
however, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter
in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the Court
of Chancery of the State of Delaware shall determine that such indemnification may be made.

 

    2

    

    

 

(c) Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee is, by reason of his or her Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding,
he or she shall be indemnified to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company
shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully
resolved claim, issue or matter. For purposes of this Section 1 and without limitation, the termination of any claim, issue
or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue
or matter.

 

2. Additional
Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in Section 1 of
this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines
and amounts paid in settlement actually and reasonably incurred by him or on his behalf if, by reason of his Corporate Status, he or she
is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company),
including, without limitation, all liability arising out of the negligence or active or passive wrongdoing of Indemnitee. The only limitation
that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make
any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, set forth in Sections 6
and 7 hereof) to be unlawful.

 

3. Contribution.

 

(a) Whether
or not the indemnification provided in Sections 1 and 2 hereof is available, in respect of any threatened, pending
or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action,
suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit
or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right of contribution
it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding in which the Company
is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full
and final release of all claims asserted against Indemnitee.

 

(b) Without
diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall
elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall contribute
to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee
in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee,
who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on
the other hand, from the transaction or events from which such action, suit or proceeding arose; provided, however, that the proportion
determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative
fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee
(or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the
transaction or events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations
that applicable law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company,
other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand,
and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated
by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their
conduct is active or passive.

 

    3

    

    

 

(c) The
Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution that may be brought by officers,
directors, or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

 

(d) To the fullest extent
permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason
whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any
claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all
of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as
a result of the event(s) and/or transaction(s) giving cause to such Proceeding and/or (ii) the relative fault of the Company (and
its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or
transaction(s).

 

4. Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his
Corporate Status, a witness, or is made (or asked) to respond to discovery requests, in any Proceeding to which Indemnitee is not a party,
he or she shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

 

5. Advancement
of Expenses. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on behalf
of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the
receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior
to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee
and shall include or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced
if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings
to repay pursuant to this Section 5 shall be unsecured and interest free.

 

    4

    

    

 

6. Procedures
and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee
rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly,
the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is
entitled to indemnification under this Agreement:

 

(a) To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what
extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification,
advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to
provide such a request to the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability
that it may have to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests of the Company.

 

(b) Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a) hereof, a determination with
respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods, which shall
be at the election of the Board (1) by a majority vote of the disinterested directors, even though less than a quorum, (2) by
a committee of disinterested directors designated by a majority vote of the disinterested directors, even though less than a quorum, (3) if
there are no disinterested directors or if the disinterested directors so direct, by independent legal counsel in a written opinion to
the Board, a copy of which shall be delivered to the Indemnitee or (4) if so directed by the Board, by the stockholders of the Company.
For purposes hereof, disinterested directors are those members of the Board who are not parties to the action, suit or proceeding in respect
of which indemnification is sought by Indemnitee.

 

(c) If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof,
the Independent Counsel shall be selected as provided in this Section 6(c). The Independent Counsel shall be selected by the
Board. Indemnitee may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company
a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 13 of
this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected
may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without
merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a)
hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of
Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection that shall have been made by
the Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected
by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved
or the person so appointed shall act as Independent Counsel under Section 6(b) hereof. The Company shall pay any and all reasonable
fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b)
hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this Section 6(c), regardless
of the manner in which such Independent Counsel was selected or appointed.

 

    5

    

    

 

(d) In
making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have
the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its
directors or independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement
that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination
by the Company (including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct,
shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 

(e) Indemnitee
shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the Enterprise
(as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in
the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to
the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise.
In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not
be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions
of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith
and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome
this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

 

(f) If
the person, persons or entity empowered or selected under Section 6 to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination
of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law;
provided, however, that such sixty (60) day period may be extended for a reasonable time, not to exceed an additional thirty
(30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification in good faith
requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided further, that
the foregoing provisions of this Section 6(f) shall not apply if the determination of entitlement to indemnification is to
be made by the stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after
receipt by the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit
such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy five (75) days
after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days
after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after
having been so called and such determination is made thereat.

 

    6

    

    

 

(g) Indemnitee
shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification,
including providing to such person, persons or entity upon reasonable advance request any documentation or information that is not privileged
or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination.
Any Independent Counsel, member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination
regarding the Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys’
fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be
borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby
indemnifies and agrees to hold Indemnitee harmless therefrom.

 

(h) The
Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense,
delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is resolved
in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding
with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise
in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion
by clear and convincing evidence.

 

(i) The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of
nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the
right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner that he or she
reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that his conduct was unlawful.

 

7. Remedies
of Indemnitee.

 

(a) In
the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement,
(iii) no determination of entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within ninety
(90) days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant
to this Agreement within ten (10) days after receipt by the Company of a written request therefor or (v) payment of indemnification
is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination
is deemed to have been made pursuant to Section 6 of this Agreement, Indemnitee shall be entitled to an adjudication in an
appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such
indemnification. Indemnitee shall commence such proceeding seeking an adjudication within one hundred eighty (180) days following
the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall
not oppose Indemnitee’s right to seek any such adjudication.

 

    7

    

    

 

(b) In
the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de
novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under Section 6(b).

 

(c) If
a determination shall have been made pursuant to Section 6(b) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not
materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under
applicable law.

 

(d) In
the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover damages
for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by
the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described in the definition of Expenses
in Section 13 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of whether
Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

 

(e) The
Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section 7 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound
by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee,
shall (within ten (10) days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by
law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification
or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies
maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement
of Expenses or insurance recovery, as the case may be.

 

(f) Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required
to be made prior to the final disposition of the Proceeding.

 

    8

    

    

 

8. Non-Exclusivity;
Survival of Rights; Insurance; Primacy of Indemnification; Subrogation.

 

(a) The
rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any
time be entitled under applicable law, the Certificate of Incorporation, the By-laws, any agreement, a vote of stockholders, a resolution
of directors of the Company, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit
or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision,
permits greater indemnification than would be afforded currently under the Certificate of Incorporation, By-laws and this Agreement, it
is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right
or remedy.

 

(b) To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees,
or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under
such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has directors’
and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the
insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable
action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with
the terms of such policies.

 

(c) [The
Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement of expenses and/or insurance provided by
the Fund and certain of its affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees (i) that
it is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance
expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) that it shall
be required to advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses, judgments,
penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and the
Certificate of Incorporation or Bylaws of the Company (or any other agreement between the Company and Indemnitee), without regard to any
rights Indemnitee may have against the Fund Indemnitors and (iii) that it irrevocably waives, relinquishes and releases the Fund
Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect
thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any
claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have
a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee
against the Company. The Company and Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms of
this Section 8(c).]

 

    9

    

    

 

(d) Except
as provided in paragraph (c) above, in the event of any payment under this Agreement, the Company shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee [(other than against the Fund Indemnitors)], who shall execute all papers
required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company
to bring suit to enforce such rights.

 

(e) Except
as provided in paragraph (c) above, the Company shall not be liable under this Agreement to make any payment of amounts otherwise
indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy,
contract, agreement or otherwise.

 

(f) Except
as provided in paragraph (c) above, the Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is
or was serving at the request of the Company as a director, officer, employee or agent of any other corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or
advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

 

9. Exception
to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement
to make any indemnity in connection with any claim made against Indemnitee:

 

(a) for
which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with
respect to any excess beyond the amount paid under any insurance policy or other indemnity provision[, provided, that the foregoing shall
not affect the rights of Indemnitee or the Fund Indemnitors set forth in Section 8(c) above]; or

 

(b) for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the
meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or
common law; or

 

(c) in
connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding)
initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized
the Proceeding (or any part of any Proceeding) prior to its initiation, or (ii) the Company provides the indemnification, in its
sole discretion, pursuant to the powers vested in the Company under applicable law.

 

    10

    

    

 

10. Duration
of Agreement. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer
or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding
(or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he or she is acting
or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this
Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of
the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives.

 

11. Security.
To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to
Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral.
Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.

 

12. Enforcement.

 

(a) The
Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby in order
to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying upon this
Agreement in serving as an officer or director of the Company.

 

(b) This
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

(c) The
Company shall not seek from a court, or agree to, a “bar order” that would have the effect of prohibiting or limiting
the Indemnitee’s rights to receive advancement of expenses under this Agreement.

 

13. Definitions.
For purposes of this Agreement:

 

(a) “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of
any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving
at the express written request of the Company.

 

(b) “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee.

 

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(c) “Enterprise”
shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee
is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary.

 

(d) “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses
of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating
or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding.
Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding and any federal, state, local
or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, including
without limitation the premium, security for and other costs relating to any cost bond, supersede as bond, other appeal bond or its equivalent.
Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

 

(e) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently
is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above
and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement
or its engagement pursuant hereto.

 

(f) “Proceeding”
includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise
and whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as a party or otherwise,
by reason of his or her Corporate Status, by reason of any action taken by him or of any inaction on his part while acting in his or her
Corporate Status; in each case whether or not he or she is acting or serving in any such capacity at the time any liability or expense
is incurred for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement,
but excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this Agreement.

 

14. Severability.
The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.
Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest
extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed
modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

 

    12

    

    

 

15. Modification
and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by
both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

16. Notice
by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons,
citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter that may be subject to indemnification
covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation that it may have to Indemnitee
under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company.

 

17. Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given
(a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during
normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having
been sent by registered or certified mail, return receipt requested, postage prepaid or (d) one (1) day after deposit with a
nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall
be sent:

 

(a) To
Indemnitee at the address set forth below Indemnitee signature hereto.

 

(b) To
the Company at:

 

Jasper Therapeutics, Inc.

2200 Bridge Parkway, Suite 102

Redwood City, CA 94065

Attention: Chief Executive Officer

 

or to such other address as may have been furnished
to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

 

18. Counterparts.
This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

19. Headings.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof.

 

20. Governing
Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement
shall be brought only in the Chancery Court of the State of Delaware (the “Delaware Court”), and not in any other state
or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction
of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any
objection to the laying of venue of any such action or proceeding in the Delaware Court and (iv) waive, and agree not to plead or
to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

 

Signature Page To Follow

 

    13

    

    

 

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

 

	 	COMPANY
	 	 
	 	JASPER THERAPEUTICS, INC.
	 	 	 
	 	By:	                     
	 	Name:
	 	Title:
	 	Electronic Mail
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	 	 
	 	By:	              
	 	Name:
	 	Address:
	 	Electronic Mail:

 

SIGNATURE PAGE

INDEMNIFICATION AGREEMENT

 

14

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