Document:

Exhibit 10.48
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AMENDMENT TO MEMBERSHIP AGREEMENT
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HI PRINCESS BULANADI

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Please review the Amendment to your Membership Agreement below.
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If you have any questions or concerns, please don't hesitate to reach out to us at we-us-39470@wework.com
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Reference is hereby made to the WeWork Membership Agreement between 200 Berkeley Street Tenant LLC ("WeWork") and NeuroBo Pharmaceuticals, Inc. dated January 29, 2020, including the accompanying Membership Details Form and any other amendments thereto (the "Agreement"). The parties agree that the following terms shall be considered binding amendments to the Agreement (the "Amendment"). Capitalized terms not defined herein shall have the meaning ascribed to them in the Agreement.
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PRIMARY MEMBER INFORMATION

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NeuroBo Pharmaceuticals, Inc.
Primary member: Princess Bulanadi
princess@neurobopharma.com
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AMENDED MEMBERSHIP DETAILS

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WeWork 200 Berkeley
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Current Office(s)
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19-120  •  2 person  office
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Membership Fee:
$1,340.00/mo from April 1, 2022
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Commitment term
Start date: April 1, 2022
End date: June 30, 2022
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	Amendment to WeWork Membership Agreement
	1

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MEMBERSHIP FEE SUMMARY

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	NET

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	MEMBERSHIP
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	DISCOUNTED

	OFFICE
	    
	DATES
	    
	FEE
	    
	DISCOUNT
	    
	FEE

	19-120
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	04/01/2022 -
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	$1,340.00
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	$201.00
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	$1,139.00

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	06/30/2022
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ANNUAL ESCALATION

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On each anniversary of the start date for the office, the Membership Fee will be subject to an automatic three and a half percent (3.5%) increase over the then current Membership Fee.
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This amendment may alter the date upon which Member Company's annual increase of the Membership Fee occurs, but in no event shall it occur on a date earlier than the next anniversary of the Start Date of the Agreement.
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In the event of any inconsistency between the Agreement and this Amendment, the terms of this Amendment shall prevail. The parties further agree that other than the terms modified by this Amendment, the Agreement remains otherwise unchanged, including the annual Membership Fee increases set forth in the Agreement.
By electronically signing this Amendment you represent that you have the proper authority to execute this Amendment on behalf of NeuroBo Pharmaceuticals, Inc. and incur the obligations described in this Amendment on behalf of NeuroBo Pharmaceuticals, Inc.
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	Community Manager's signature
	    
	Electronic Signature

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	Erika Nedwell
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	Gil Price

	200 Berkeley Street Tenant LLC
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	NeuroBo Pharmaceuticals, Inc.

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	Signed on February 9, 2022

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	WeWork
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	200 Berkeley Street Tenant LLC
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	200 Berkeley Street
	(646) 491-9060

	Boston, MA, 02116, USA
	we-us-39470@wework.com

	VAT: 834152702
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	Amendment to WeWork Membership Agreement
	2

​Exhibit
4.1

 

DESCRIPTION
OF SECURITIES

 

The
following description of our securities is only a summary and is qualified in its entirety by reference to the actual terms and provisions
of the capital stock contained in our amended and restated certificate of incorporation and our amended and restated by-laws.

 

General

 

EVmo,
Inc. (the “Company,” “we,” “our,” and “us”) is authorized to issue two classes of stock.
The total number of shares of stock which the Company is authorized to issue is 100,000,000 shares of capital stock, consisting of 90,000,000
shares of common stock, $0.000001 par value per share, and 10,000,000 shares of preferred stock, $0.000001 par value per share.

 

Common
Stock 

 

The
holders of our common stock are entitled to the following rights:

 

Voting
Rights

 

Each
share of our common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders.
Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.

 

Dividend
Rights

 

Subject
to limitations under Delaware law and preferences that may apply to any shares of preferred stock that we may decide to issue in the
future, holders of our common stock are entitled to receive ratably such dividends or other distributions, if any, as may be declared
by our Board out of funds legally available therefor.

 

Liquidation
Rights

 

In
the event of the liquidation, dissolution or winding up of our business, the holders of our common stock are entitled to share ratably
in the assets available for distribution after the payment of all of our debts and other liabilities, subject to the prior rights of
the holders of our preferred stock.

 

Other
Matters

 

The
holders of our common stock have no subscription, redemption or conversion privileges. Our common stock does not entitle its holders
to preemptive rights. All of the outstanding shares of our common stock are fully paid and non-assessable. The rights, preferences and
privileges of the holders of our common stock are subject to the rights of the holders of shares of any series of preferred stock which
we may issue in the future.

 

Preferred
Stock

 

Our
authorized preferred stock consists of 10,000,000 shares of preferred stock, par value $0.000001 per share. As of the date of this annual
report on Form 10-K, 2,000,000 shares of preferred stock have been designated as Series A non-voting convertible preferred stock, none
of which have been issued, and 230,550 shares have been designated as Series B non-voting convertible preferred stock, of which 230,375
shares were issued in 2021. However, all such shares have either been converted into common stock or redeemed by us by the date of this
annual report on Form 10-K. Our Board has the authority to issue preferred stock in one or more classes or series and to fix the designations,
powers, preferences, and rights, and the qualifications, limitations or restrictions thereof including dividend rights, dividend rates,
conversion rights, voting rights, terms of redemption, redemption prices, liquidation preferences and the number of shares constituting
any class or series, without further vote or action by the stockholders.

 

    	 

     

    

 

While
we do not currently have any plans for the further issuance of any preferred stock, the issuance of preferred stock could adversely affect
the rights of the holders of common stock and, therefore, reduce the value of the common stock. It is not possible to state the actual
effect of the issuance of any shares of preferred stock on the rights of holders of the common stock until the Board of Directors determines
the specific rights of the holders of the preferred stock; however, these effects may include:

 

	 	●	Restricting
    dividends on the common stock;
	 	●	Diluting
    the voting power of the common stock;
	 	●	Impairing
    the liquidation rights of the common stock; or
	 	●	Delaying
    or preventing a change-in-control of the Company without further action by the stockholders. 

 

Warrants

 

On
March 8, 2018, the Company issued a warrant to purchase a total of 1,500,000 shares of Company common stock at the exercise price of
$4.00 per share. The shares of Company common stock underlying this warrant were registered as part of our initial public offering.

 

In
November 2019, the Company issued two warrants, one each to the underwriters of our initial public offering of common stock. Each warrant
was for 65,625 common shares at an exercise price of $5.00 per share.

 

In
April 2021, in connection with a financing transaction, the Company issued a warrant for 187,500 common shares at an exercise price of
$3.00 per share. The terms of the financing required us to issue additional warrants each month until such time as there were no securities
outstanding other than the warrants. The Company issued eight warrants, each for 93,750 common shares, at an exercise price of $3.00.

 

On
July 8, 2021, as part of a financing transaction, the Company issued a warrant to purchase a total of 450,000 shares of common stock
at the exercise price of $2.10 per share. On October 7, 2021, the Company issued an additional warrant to the same holder, this time
for 900,000 common shares at an exercise price of $0.93. After our common stock offering and the conversion of our Series B preferred
stock into common stock in January 2022, these warrants were adjusted according to their terms as follows: the warrant for 450,000 shares
was adjusted to 711,656 shares at an exercise price of $1.33 and the warrant for 900,000 shares was adjusted to 1,174,311 shares at an
exercise price of $0.71.

 

Options

 

2016
Equity Incentive Plan

 

On
November 30, 2016, we adopted our 2016 Equity Incentive Plan (the “Plan”) to reward and provide incentives to our officers,
directors, employees, consultants and other eligible participants. We set aside options to purchase up to 10,000,000 shares of common
stock for issuance under the Plan, which may be granted in the form of either incentive stock options or non-qualified stock options.
Our Board of Directors administers the Plan and has the authority: (i) to select the Plan recipients, the time or times at which awards
may be granted, the number of shares to be subject to each option awarded, the vesting schedule of the options, and the price at which
the options may be exercised, and (ii) to amend the Plan.EX-4.17

 Exhibit 4.17 

PRIVATE AND CONFIDENTIAL 
 [name] 

[address] 
 [date] 

Dear [name], 
 Restated Letter of Appointment 

The Board of Directors (Board) of Mereo BioPharma Group plc (Company) is pleased to confirm your appointment as an independent non-executive [director][chairman] effective as of [date] (Effective Date). Your restated terms pursuant to this letter will become effective on the Effective Date. 

This letter sets out the main terms of your appointment from the Effective Date. By accepting this appointment, you agree that this letter is a contract for
services and is not a contract of employment and you confirm that you are not subject to any restrictions which prevent you from holding office as a director of the Company. 
  

	1.	 FEES AND EXPENSES 

 

	1.1	 You shall be paid an annual fee of £[ ] gross, which shall be paid in equal instalments monthly in
arrears through the payroll after deduction of any taxes and other amounts that are required by law. This fee covers all duties but does not include fees for service on any Board committee and any Boards of the Company’s subsidiaries which will
be notified to you separately in writing. 

  

	1.2	 The Company shall reimburse you for all reasonable and properly documented expenses that you incur in
performing the duties of your office including travel and sundry expenses, in accordance with the Company’s expense reimbursement policies. 

  

	1.3	 On termination of your appointment, you shall only be entitled to such fees as may have accrued to the date of
termination, together with reimbursement in the normal way of any expenses properly incurred before that date. 

  

	2.	 ROLE AND DUTIES 

 

	2.1	 The Board as a whole is collectively responsible for the success of the Company. Subject to and without
limitation on the Company’s articles of incorporation, bylaws and any charter or similar authorisation to the Board or any committee of the Board, the Board’s role is to seek to: 

 

	 	(a)	 promote the long-term sustainable success of the Company, generating value for shareholders and contributing to
wider society; 

  

	 	(b)	 act with integrity; 

	 	(c)	 ensure that the necessary resources are in place for the Company to meet its objectives, and measure
performance against them; 

  

	 	(d)	 establish a framework of prudent and effective controls, which enable risk to be assessed and managed; and

  

	 	(e)	 ensure that policies and practices are consistent with the Company’s values and support its long-term
sustainable success. 

  

	2.2	 As a non-executive director you shall have the same general legal
responsibilities to the Company as any other director. You are expected to perform your duties (whether statutory, fiduciary or common law) faithfully, diligently and to a standard commensurate with the functions of your role and your knowledge,
skills and experience. 

  

	2.3	 You shall exercise your powers in your role as a non-executive director
having regard to relevant obligations under prevailing law and regulation, including the Companies Act 2006 and, where applicable, the Market Abuse Regulation (596/2014/EU), the rules of the Securities and Exchange Commission, the Nasdaq Stock
Market and Delaware General Corporation Law. 

  

	2.4	 You shall have particular regard to the general duties of directors in Part 10 of the Companies Act 2006,
including the duty to promote the success of the Company under which all directors must act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole. In doing so,
as a director, you must have regard (among other matters) to: 

  

	 	(a)	 the likely consequences of any decision in the long term; 

 

	 	(b)	 the interests of the Company’s employees; 

 

	 	(c)	 the need to foster the Company’s business relationships with suppliers, customers and others;

  

	 	(d)	 the impact of the Company’s operations on the community and the environment; 

 

	 	(e)	 the desirability of the Company maintaining a reputation for high standards of business conduct; and

  

	 	(f)	 the need to act fairly as between the members of the Company. 

 

	2.5	 If and when applicable, you shall have particular regard to the Nasdaq’s Listed Company Rules and the
Delaware General Corporation Law provisions applicable to the board of directors and committees thereof and their respective members and advisers. 

[ ] [In addition to the general legal responsibilities to the Company as any other director, in your role as chairman, you should seek to fulfil the following
list of responsibilities: 
  

	 	(a)	 chair the Board and general meetings of the Company and relevant committees of the Board and relevant Board and
general meetings of any subsidiaries of the Company; 

	 	(b)	 in consultation with the Chief Executive, set the Board’s agenda (primarily focused on strategy,
performance, value creation and accountability) and strive to ensure that issues relevant to these areas are reserved for board decision and adequate time is available for discussion of all agenda items, in particular strategic issues;

  

	 	(c)	 create the conditions for overall board and individual director effectiveness, s    etting
clear expectations concerning the style and tone of Board discussions; 

  

	 	(d)	 ensure that the Board determines the nature and extent of the significant risks that the Company is willing to
embrace in implementing its strategy; 

  

	 	(e)	 ensure that the Board has effective decision-making processes and applies sufficient challenge to major
proposals; 

  

	 	(f)	 ensure that all directors are aware of their responsibilities and are able to discharge their statutory duties;

  

	 	(g)	 ensure that Board committees are properly structured with appropriate terms of reference and that committee
membership is periodically refreshed; 

  

	 	(h)	 encourage all Board members to engage in Board and committee meetings by drawing on their skills, experience
and knowledge; 

  

	 	(i)	 ensure that sufficient time is allowed at the board for committees to report on the nature and content of
discussion, on recommendations, and on actions to be taken; 

  

	 	(j)	 hold meetings with the non-executive directors without the executives
present to facilitate a full and frank airing of views; 

  

	 	(k)	 develop productive working relationships with all executive directors and the chief executive to gain a
detailed understanding of the business; 

  

	 	(l)	 demonstrate ethical leadership and promote the highest standards of integrity, probity and corporate governance
throughout the Company and particularly at Board level; 

  

	 	(m)	 ensure that the Board receives accurate, timely and clear information; 

 

	 	(n)	 demonstrate objective judgement and facilitate constructive board relations and the effective contribution of
all non-executive directors; 

  

	 	(o)	 ensure that the new directors participate in a full, formal and tailored induction programme;

  

	 	(p)	 ensure that the performance of the Board, its committees and individual directors is evaluated at least once a
year, select an effective approach and act on the results of such evaluation; and 

  

	 	(q)	 periodically review, with the company secretary, whether the Board and Company’s governance processes are
fit for purpose and consider any improvements and initiatives that could strengthen the governance.] 

  

	2.6	 In your role as a non-executive director, it is expected that you shall
also be required to fulfil the following list of responsibilities, in the course of your good faith performance of services to the Company and in the exercise of your reasonable business judgment: 

 

	 	(a)	 provide constructive challenge, strategic guidance, offer specialist advice hold management to account and help
develop proposals on strategy; 

	 	(b)	 monitor the performance of senior management in meeting agreed goals and objectives and monitor the reporting
of performance; 

  

	 	(c)	 satisfy yourself on the integrity of financial information and that financial controls and systems of risk
management are robust and defensible; 

  

	 	(d)	 be responsible for determining appropriate levels of remuneration of executive directors and have a prime role
in appointing and, where necessary, removing senior management and in succession planning; 

  

	 	(e)	 insist on receiving high-quality information sufficiently in advance of Board meetings and seek clarification
or amplification if you consider the information provided is inadequate or lacks clarity; 

  

	 	(f)	 make sufficient time available to discharge your responsibilities effectively; 

 

	 	(g)	 exercise relevant powers under, and abide by, the Articles; 

 

	 	(h)	 disclose the nature and extent of any direct or indirect interest you may have in any matter being considered
at a Board or committee meeting and, except as permitted under the Articles you will not vote on any resolution of the Board, or of one of its committees, on any matter where you have any direct or indirect interest; 

 

	 	(i)	 immediately report your own wrongdoing or the wrongdoing or proposed wrongdoing of any employee or other
director of the Company of which you become aware to the Chair of the Audit Committee; 

  

	 	(j)	 exercise your powers as a director in accordance with the Company’s policies and procedures and the
Bribery Act 2010; and 

  

	 	(k)	 not do anything that would cause you to be disqualified from acting as a director. 

 

	2.7	 Unless the Board specifically authorises you to do so, you shall not enter into any legal or other commitment
or contract on behalf of or with the Company. 

  

	2.8	 You shall be entitled to request all relevant information about the Company’s affairs as is reasonably
necessary to enable you to discharge your duties. 

  

	2.9	 If you are required to register yourself or your personal service company with HM Revenue and Customs as a
“Trust or Company Service Provider” under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, you will be responsible for effecting such registration and for compliance with other
requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and applicable legislation. 

  

	2.10	 Notwithstanding anything to the contrary in this Article 2, you acknowledge and agree that in your capacity as
director, you will have such duties, authorities and responsibilities and other obligations as provided under the Company’s articles of incorporation and bylaws and charter documents, in each case, as in effect from time to time, and you will
act in compliance with the applicable rules and regulations promulgated by the SEC and Nasdaq. 

	2.11	 You acknowledge and agree that in your capacity as director, you are acting solely as an independent contractor
and not as an employee, legal representative or agent of the Company. 

  

	3.	 CONFIDENTIALITY 

 

	3.1	 You acknowledge that all information acquired during your appointment is confidential to the Company and should
not be released, communicated or disclosed to third parties or used for any reason other than in the interests of the Company, either during your appointment or following termination (by whatever means), without prior clearance from the Board (or a
committee thereof). This restriction shall cease to apply to any confidential information which may (other than by reason of your breach) become available to the public generally. 

 

	3.2	 You acknowledge the need to hold and retain Company information (in whatever format you may receive it) under
appropriately secure conditions. 

  

	3.3	 Nothing in this paragraph 3 shall prevent you from disclosing information which you are entitled to disclose
under the Public Interest Disclosure Act 1998, provided that the disclosure is made in accordance with the provisions of that Act and you have complied with the Company’s policy from time to time in force regarding such disclosures.

  

	3.4	 Nothing in this Agreement shall be construed to prohibit you from reporting or disclosing information or
reporting possible violations of federal or state law or regulations to any governmental agency or self-regulatory organisation with oversight responsibility for the Company, or making other disclosures that are protected under whistleblower or
other provisions of any applicable federal or state law or regulations (it being understood that prior authorisation of the Company is not required to make any such reports or disclosures, and you are not required to notify the Company that you have
made such reports or disclosures). 

  

	4.	 TIME COMMITMENT 

 

	4.1	 You will be expected to devote such time as is necessary for the proper performance of your duties. This will
include attendance at Board meetings, Board committee meetings, the AGM, meetings with the other non-executive directors, meetings with shareholders, meetings forming part of the Board evaluation process and
updating. In addition, you will be required to consider all relevant papers before each meeting. 

  

	4.2	 The nature of the role makes it impossible to be specific about the maximum time commitment. You may be
required to devote additional time to the Company in respect of preparation time and ad hoc matters which may arise, and particularly when the Company is undergoing a period of increased activity. At certain times it may be necessary to convene
additional Board, committee or shareholder meetings. 

	4.3	 The overall time commitment stated in paragraph 4.1 will increase if you become a committee member or chair, or
if you are given additional responsibilities, such as being appointed as non-executive director on the boards of any of the Company’s subsidiaries. Details of the expected increase in time commitment will
be covered in any relevant communication confirming the additional responsibility. 

  

	4.4	 By accepting this appointment, you confirm that, taking into account all of your other commitments, you are
able to allocate sufficient time to the Company to discharge your responsibilities effectively. You should obtain the agreement of the Chairman and the Nomination Committee before accepting additional commitments that might affect the time you are
able to devote to your role as a non-executive director of the Company. 

  

	5.	 APPOINTMENT 

 

	5.1	 Subject to the provisions of this letter, including but not limited to clauses 5.2 and 5.4 below, your
appointment shall be for a term of three years commencing on the Effective Date until the conclusion of the Company’s annual general meeting (AGM) occurring approximately three years from that date, unless terminated earlier by either
party giving to the other three months’ prior written notice. 

  

	5.2	 Your appointment is subject to the Company’s articles of association, as amended from time to time
(Articles). Nothing in this letter shall be taken to exclude or vary the terms of the Articles as they apply to you as a director of the Company. Your appointment is subject to confirmation by the shareholders at the next AGM, and at any
subsequent AGM as required by the Articles or as the Board resolves. 

  

	5.3	 Continuation of your appointment is contingent on your continued satisfactory performance and any relevant
statutory provisions relating to removal of a director. If the shareholders do not re-elect you as a director, or you are retired from office under the Articles, your appointment shall terminate automatically,
with immediate effect and without compensation , other than earned but unpaid fees and unreimbursed business expense reasonably incurred, and except as otherwise provided in any equity compensation plan or award. 

 

	5.4	 Any term renewal is subject to Board review and AGM re-election.
Notwithstanding any mutual expectation, there is no right to re-nomination by the Board, either annually or after any three-year period. 

 

	5.5	 You may be required to serve on one or more Board committees. You will be provided with the relevant terms of
reference on your appointment to such a committee. You may be required to serve as a non-executive director on the board of any of the Company’s subsidiaries and will be provided with the relevant terms
of reference on your appointment to such board(s). Except as otherwise determined by the Board or an authorised Board committee, you will not receive any additional compensation for service on any such Board committee or any subsidiary board.

  

	5.6	 Notwithstanding paragraph 5.1 to paragraph 5.5, the Company may terminate your appointment with immediate
effect if you have: 

	 	(a)	 committed a material breach of your obligations under this letter; 

 

	 	(b)	 committed any serious or repeated breach or non-observance of your
obligations to the Company (which include an obligation not to breach your statutory, fiduciary or common-law duties); 

 

	 	(c)	 been guilty of any fraud or dishonesty or acted in any manner which, in the Company’s opinion, brings or
is likely to bring you or the Company into disrepute or is materially adverse to the Company’s interests; 

  

	 	(d)	 been convicted of an arrestable criminal offence other than a road traffic offence for which a fine or non-custodial penalty is imposed; 

  

	 	(e)	 been declared bankrupt or have made an arrangement with or for the benefit of your creditors, or if you have a
county court administration order made against you under the County Court Act 1984; 

  

	 	(f)	 been disqualified from acting as a director; or 

 

	 	(g)	 not complied with the Company’s anti-corruption and bribery policy and procedures. 

 

	5.7	 On termination of your appointment, you shall, at the Company’s request, resign from your office as non-executive director of the Company and any offices you hold in any of the Company’s group companies. 

  

	5.8	 If matters arise which cause you concern about your role, you should discuss these matters with the Chief
Executive and Chairman (who may determine that discussion with the Board (or a committee thereof) is appropriate). If you have any concerns which cannot be resolved, and you choose to resign for that, or any other, reason, you should provide an
appropriate written statement to the Chief Executive for circulation to the Board. 

  

	6.	 INDEPENDENT PROFESSIONAL ADVICE 

In some circumstances you may consider that you need professional advice in the furtherance of your duties as a
non-executive director and it may be appropriate for you to seek advice from independent advisers at the Company’s expense. A copy of the Board’s agreed procedure under which directors may obtain
such independent advice is available from the Company’s General Counsel. The Company shall reimburse the reasonable cost of expenditure incurred by you in accordance with its policy. For the avoidance of doubt, nothing in this paragraph 6 shall
be construed to limit any right of the Board or any committee thereof, under any charter document or rule of any stock exchange or regulatory authority or otherwise, to retain and/or receive the advice of outside compensation consultants, legal
counsel and other advisers or limit any obligation of the Company to provide appropriate funds for the compensation of any such outside advisers. 

	7.	 OUTSIDE INTERESTS 

 

	7.1	 You have already disclosed to the Board the significant commitments you have outside your role in the Company.
You must inform the Chief Executive or the Nomination Committee in advance of any changes to these commitments. In certain circumstances, you may have to seek the Board’s agreement before accepting further commitments which either might give
rise to a conflict of interest or a conflict with any of your duties to the Company, or which might impact on the time that you are able to devote to your role at the Company. 

 

	7.2	 It is accepted and acknowledged that you have business interests other than those of the Company and have
declared any conflicts that are apparent at present. If you become aware of any further potential or actual conflicts of interest, these should be disclosed to the Chairman, the Chief Executive and the Nomination Committee as soon as you become
aware of them and again you may have to seek the agreement of the Board. 

  

	8.	 INSIDE INFORMATION AND DEALING IN
THE COMPANY’S SHARES 

  

	8.1	 Your attention is drawn to the requirements under both law and regulation as to the disclosure of inside
information, in particular to the Market Abuse Regulation (596/2014/EU), section 52 of the Criminal Justice Act 1993 on insider dealing, as well as section 10(b) and section 16(b) of the US Exchange Act and SEC Rule
10b-5. You should avoid making any statements or taking any other action that might risk a breach of these requirements. If in doubt, please contact the Chief Executive or General Counsel.

  

	8.2	 During your period of appointment you are required to comply with any applicable regulations or laws in
relation to dealing in the Company’s publicly traded or quoted securities including, section 10(b) and section 16(b) of the US Exchange Act and SEC Rule 10b-5, the Sarbanes-Oxley Act and any other code or
policy as the Company may adopt from time to time which sets out the terms for dealings by directors in the Company’s securities. A copy of the current share dealing code adopted by the Company will be provided to you separately.

  

	9.	 REVIEW PROCESS 

The performance of individual directors and the whole Board and its committees is evaluated annually. If, in the interim, there are any matters
which cause you concern about your role you should discuss them with the Chief Executive or the Nomination Committee as soon as you can. 
  

	10.	 INSURANCE AND INDEMNITY 

 

	10.1	 The Company has directors’ and officers’ liability insurance and it intends to maintain such cover
for the full term of your appointment at a level customary for companies in the pharmaceutical industry of a similar size and stage of development. A copy of the policy document is available from the Company’s General Counsel.

	10.2	 The Company shall grant you a deed of indemnity against certain liabilities that may be incurred as a result of
your office to the extent permitted by section 234 of the Companies Act 2006 and Delaware General Corporation Law. 

  

	11.	 CHANGES TO PERSONAL DETAILS

 You shall advise the General Counsel promptly of any change in your address or other personal contact details. 

 

	12.	 RETURN OF PROPERTY 

On termination of your appointment with the Company however arising, or at any time at the Board’s request, you shall immediately return
to the Company all documents, records, papers or other property belonging to the Company or any company in the Company’s group which may be in your possession or under your control, and which relate in any way to the Company’s or a group
company’s business affairs and you shall not retain any copies thereof. 
  

	13.	 MORAL RIGHTS 

You hereby irrevocably waive any moral rights in all works prepared by you, in the provision of your services to the Company, to which you are
now or may at any future time be entitled under Chapter IV of the Copyright Designs and Patents Act 1988 or any similar provisions of law in any jurisdiction, including (but without limitation) the right to be identified, the right of integrity and
the right against false attribution, and agree not to institute, support, maintain or permit any action or claim to the effect that any treatment, exploitation or use of such works or other materials, infringes your moral rights. 

 

	14.	 DATA PROTECTION 

 

	14.1	 The Company will hold, collect and otherwise process certain personal data as set out in the Company’s
privacy notice, which is available on the intranet or the Company’s Human Resources department. All personal data will be treated in accordance with applicable data protection laws and regulations. 

 

	15.	 THIRD PARTY RIGHTS 

No one other than you and the Company shall have any rights to enforce the terms of this letter. 

 

	16.	 ENTIRE AGREEMENT 

 

	16.1	 This letter and any document referred to in it constitutes the entire terms and conditions of your appointment
and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between you and the Company, whether written or oral, relating to its subject matter. 

	16.2	 You agree that you shall have no remedies in respect of any representation, , assurance or warranty (whether
made innocently or negligently) that is not set out in this letter and you shall not have any claim for innocent or negligent misrepresentation based on any statement in this letter. 

 

	17.	 VARIATION 

No variation of this letter shall be effective unless it is in writing and signed by you and the Company (or respective authorised
representatives). 
  

	18.	 GOVERNING LAW AND JURISDICTION

 Your appointment with the Company and any dispute or claim arising out of or in connection with it or its subject
matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales and you and the Company irrevocably agree that the courts
of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this appointment or its subject matter or formation (including non-contractual
disputes or claims). 
  

	19.	 TAXES 

  

	19.1	 Fees payable pursuant to this Appointment may be subject to deductions for UK income tax and National Insurance
contributions as required by law.    You are responsible for the payment of all federal, state or local taxes payable in any other jurisdictions. 

 

	19.2	 This letter agreement is intended to comply with or be exempt from Section 409A of the Internal Revenue
Code of 1986, as amended (Code) or an exception thereunder and shall be interpreted, construed and administered in accordance therewith. Notwithstanding the foregoing, the Company makes no representations that the payments or benefits
provided under this letter comply with or are exempt from Code Section 409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the you as a result of
this letter failing to comply with or be exempt from Code Section 409A. To the extent that any reimbursements are subject to Code Section 409A, any such reimbursement payment due to you shall be paid to you in all events on or before the
last day of your taxable year following the taxable year in which the related expense was incurred. The reimbursements are not subject to liquidation or exchange for another benefit and the amount of such benefits and reimbursements that you receive
in one taxable year shall not affect the amount of such benefits or reimbursements that you receive in any other taxable year. 

 Please indicate your acceptance of these terms by signing and returning to the attached copy of this letter
to Dr. Denise Scots-Knight, Chief Executive, Mereo BioPharma Group plc. 
 Yours sincerely 

 
  

For and on behalf of Mereo BioPharma Group plc 
 I agree
to the above terms of my appointment as a non-executive director of Mereo BioPharma Group plc as set out in this letter. 

Signed
on                                         
   by 
  
  

[name]

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