Document:

Exhibit
4.2

 

AMENDED
AND RESTATED

INVESTORS’ RIGHTS AGREEMENT

 

THIS
AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Agreement”), is made as of the 10ths day
of November 2020, by and among Elevation Oncology, Inc, a Delaware corporation formerly known as 14ner Oncology, Inc. (the
 “Company”), each of the investors listed on Schedule A hereto, each of which is referred to in this
Agreement as an “Investor,” and any subsequent investor that becomes a party to this Agreement in accordance
with Section 6.9 hereof.

 

RECITALS

 

WHEREAS,
certain of the Investors (the “Existing Investors”) hold shares of Series A Preferred Stock and/or shares of
Common Stock issued upon conversion thereof and possess registration rights, information rights, rights of first offer, and other
rights pursuant to that certain Investors’ Rights Agreement dated as of July 12, 2019, by and among the Company and such
Existing Investors (as amended by that First Amendment to Investors’ Rights Agreement, dated August 7, 2019, the “Prior
Agreement”);

 

WHEREAS,
the Existing Investors are holders of at least a majority of the Registrable Securities (as defined in the Prior Agreement), and
desire to amend and restated the Prior Agreement in its entirety and to accept the rights created pursuant to this Agreement in
lieu of rights granted them under the Prior Agreement: and

 

WHEREAS,
certain of the Investors are parties to that certain Series B Preferred Stock Purchase Agreement of even date herewith by and
among the Company and such Investors (the “Purchase Agreement”), under which certain of the Company’s
and such Investors’ obligations are conditioned upon the execution and delivery of this Agreement by such Investors and
certain Existing Investors.

 

NOW,
THEREFORE, the Existing Investors hereby agree that the Prior Agreement is hereby amended and restated in its entirety by
this Agreement, and the parties to this Agreement further hereby agree as follows:

 

1.             Definitions. For purposes of this Agreement:

 

1.1              
 “Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly, controls,
is controlled by, or is under common control with such Person, including without limitation any general partner, managing member,
officer, director or trustee of such Person, or any venture capital fund, registered investment company or other investment fund
now or hereafter existing that is controlled by one or more general partners, managing members or investment adviser of, or shares
the same management company or investment adviser with, such Person.

 

1.2              
 “Board” means the Board of Directors of the Company.

 

1.3              
 “Certificate of Incorporation” means the Company’s Second Amended and Restated Certificate of Incorporation,
as amended and/or restated from time to time.

 

1.4              
 “Common Stock” means shares of the Company’s common stock, par value $0.0001 per share. 

     

     

    

1.5              
 “Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become
subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability
(or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material
fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained
therein or any amendments or supplements thereto; (ii) an omission or alleged omission to state therein a material fact required
to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation
by the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law,
or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law.

 

1.6              
 “Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable for
(in each case, directly or indirectly), Common Stock, including options and warrants.

 

1.7              
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

1.8              
“Excluded Registration”
means (i) a registration relating to the sale or grant of
securities to employees of the Company or a subsidiary pursuant to a stock option, stock purchase, equity incentive or similar
plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) a registration on any form that does not include substantially
the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities;
or (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities
that are also being registered.

 

1.9              
 “FOIA Party” means a Person that, in the determination of the Board, may be subject to, and thereby required
to disclose non-public information furnished by or relating to the Company under, the Freedom of Information Act, 5 U.S.C. 552
(“FOIA”), any state public records access law, any state or other jurisdiction’s laws similar in intent
or effect to FOIA, or any other similar statutory or regulatory requirement.

 

1.10           
 “Form S-1”
means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities
Act subsequently adopted by the SEC.

 

1.11           
 “Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form
under the Securities Act subsequently adopted by the SEC that permits forward incorporation of substantial information by reference
to other documents filed by the Company with the SEC.

 

1.12           
 “GAAP” means generally accepted accounting principles in the United States as in effect from time to time.

 

1.13           
 “Holder” means any holder of Registrable Securities who is a party to this Agreement.

 

1.14           
 “Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, life
partner or similar statutorily-recognized domestic partner, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law, including, adoptive relationships, of a natural person referred to herein. 

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1.15           
 “Initiating Holders” means, collectively, Holders who properly initiate a registration request under this Agreement.

 

1.16           
 “IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities
Act.

 

1.17           
 “Key Employee”
means any executive-level employee (including, division director and vice president-level positions) as well as any employee who,
either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined
in the Purchase Agreement).

 

1.18           
 “Major Investor” means any Investor that, individually or together with such Investor’s Affiliates, holds
3,353,044 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization
or reclassification effected after the date hereof); provided, however, that (i) Samsara BioCapital, L.P. (“Samsara”)
shall constitute a Major Investor for so long as Samsara, individually or together with its Affiliates, continues to beneficially
own 2,618,760 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization
or reclassification effected after the date hereof), (ii) Vivo Opportunity Fund, L.P. (“Vivo”) shall constitute
a Major Investor for so long as Vivo, individually or together with its Affiliates, continues to beneficially own 1,571,256 shares
of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification
effected after the date hereof), and (iii) Janus Henderson Horizon Fund – Biotechnology Fund (“Janus Horizon”)
and Janus Henderson Biotech Innovation Master Fund Limited (“Janus Biotech”) shall constitute a Major Investor
for so long as Janus Horizon and Janus Biotech, individually or together with their Affiliates, continue to beneficially own 1,309,380
shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification
effected after the date hereof).

 

1.19           
 “New Securities” means, collectively, equity securities of the Company, whether or not currently authorized,
as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or
may become, convertible or exchangeable into or exercisable for such equity securities.

 

1.20           
 “Person” means any individual, corporation, partnership, trust, limited liability company, association or other
entity.

 

1.21           
 “Preferred Stock” means, collectively, shares of the Company’s Series A Preferred Stock and Series B
Preferred Stock.

 

1.22           
 “Preferred Directors” means, collectively, the Series A Directors and the Series B Directors.

 

1.23           
 “Registrable Securities” means (i) the Common Stock issuable or issued upon conversion of the Preferred
Stock; (ii) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise
of any other securities of the Company, acquired by the Investors at any time (including Common Stock held by the Investors as
of the date hereof); and (iii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right,
or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of,
the shares referenced in clauses (i) and (ii) above; excluding in all cases, however, any Registrable Securities
sold by a Person in a transaction in which the applicable rights under
this Agreement are not assigned pursuant to Subsection 6.1, and excluding for purposes of Section 2 any shares
for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement. 

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1.24           
 “Registrable Securities then outstanding” means the number of shares determined by adding the number of shares
of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly)
pursuant to then exercisable and/or convertible securities that are Registrable Securities.

 

1.25           
 “Requisite Preferred Directors” means at least 75% of the Preferred Directors.

 

1.26           
 “Restricted Securities” means the securities of the Company required to be notated with the legend set forth
in Subsection 2.12(b) hereof.

 

1.27           
 “SEC” means the Securities and Exchange Commission.

 

1.28           
 “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act.

 

1.29           
 “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act.

 

1.30           
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

1.31           
 “Selling Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable
to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements
of the Selling Holder Counsel borne and paid by the Company as provided in Subsection 2.6.

 

1.32           
 “Series A Director” means any director of the Company that the holders of record of the Series A Preferred
Stock are entitled to elect, exclusively and as a separate class, pursuant to the Certificate of Incorporation.

 

1.33           
 “Series A Preferred Stock” means shares of the Company’s Series A Preferred Stock, par value $0.0001
per share.

 

1.34           
 “Series B Director” means any director of the Company that the holders of record of the Series B Preferred
Stock are entitled to elect, exclusively and as a separate class, pursuant to the Certificate of Incorporation.

 

1.35           
 “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.0001
per share.

 

1.36           
 “venBio” means venBio Partners, LLC. 

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1.37           
 “venBio Director” means the Series B Director designated by venBio pursuant to the Voting Agreement, dated
of even date herewith, among the Company, the Investors and the other parties named therein.

 

2.             Registration Rights. The Company covenants and agrees as follows:

 

2.1             
Demand Registration.

 

(a)             
Form S-1 Demand. If at any time after the earlier of (i) three years after the date of this Agreement or (ii) one hundred
eighty (180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders
of a majority of the Registrable Securities then outstanding that the Company file a Form S-1 registration statement with respect
to at least forty percent (40%) of the Registrable Securities then outstanding (or a lesser percent if the anticipated aggregate
offering price, net of Selling Expenses, would exceed $10 million), then the Company shall (x) within ten (10) days after the
date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating Holders;
and (y) as soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating
Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating
Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by
any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand
Notice is given, and in each case, subject to the limitations contained in this Section 2.

 

(b)            
Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement, the Company receives a request
from Holders of at least ten percent (10%) of the Registrable Securities then outstanding that the Company file a Form S-3 registration
statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net
of Selling Expenses, of at least $5 million, then the Company shall (i) within ten (10) days after the date such request is given,
give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within
forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under
the Securities Act covering all Registrable Securities requested to be included in such registration by any other Holders, as
specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and
in each case, subject to the limitations contained in this Section 2.

 

(c)             
Notwithstanding the foregoing obligations, if
the Company furnishes to Holders requesting a registration pursuant to this Subsection 2.1 a certificate signed by the
Company’s chief executive officer stating that in the good faith judgment of the Board it would be materially detrimental
to the Company and its stockholders for such registration statement to either become effective or remain effective for as long
as such registration statement otherwise would be required to remain effective, because such action would (i) materially interfere
with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature
disclosure of material information that the Company has a bona fide business purpose for preserving as confidential; or (iii)
render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the
right to defer taking action with respect to such filing, and any time periods with respect to filing or effectiveness thereof
shall be tolled correspondingly, for a period of not more than one hundred twenty (120) days after the request of the Initiating
Holders is given; provided, however, that the Company may not invoke this right more than twice in any twelve (12)
month period; and provided further that the Company shall not register any securities for its own account or that of any
other stockholder during such one hundred twenty (120) day period other than an Excluded Registration. 

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(d)            
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(a)(i)
during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending
on a date that is one hundred eighty (180) days after the effective date of, a Company-initiated registration, provided
that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; (ii) after the Company has effected two registrations pursuant to Subsection 2.1(a); or (iii) if the Initiating
Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request
made pursuant to Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any
registration pursuant to Subsection 2.1(b) (i) during the period that is thirty (30) days before the Company’s good
faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated
registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such
registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Subsection 2.1(b)
within the twelve (12) month period immediately preceding the date of such request. A registration shall not be counted as
 “effected” for purposes of this Subsection 2.1(d) until such time as the applicable registration statement
has been declared effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not
to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Subsection
2.6, in which case such withdrawn registration statement shall be counted as “effected” for purposes of this Subsection
2.1(d); provided, that if such withdrawal is during a period the Company has deferred taking action pursuant to Subsection
2.1(c), then the Initiating Holders may withdraw their request for registration and such registration will not be counted
as “effected” for purposes of this Subsection 2.1(d).

 

2.2             
Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the
Company for stockholders other than the Holders) any of its securities under the Securities Act in connection with the public
offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly
give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such notice
is given by the Company, the Company shall, subject to the provisions of Subsection 2.3, cause to be registered all of
the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the
right to terminate or withdraw any registration initiated by it under this Subsection 2.2 before the effective date of
such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses
(other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance with Subsection 2.6.

 

2.3             
Underwriting Requirements.

 

(a)             
If, pursuant to Subsection 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their
request by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Subsection
2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Board
and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder
to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s participation
in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided
herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company as provided
in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such
underwriting; provided, however, that no Holder (or any of their assignees) shall be required to make any representations, warranties
or indemnities except as they relate to such Holder’s ownership of shares and authority to enter into the underwriting agreement
and to such Holder’s intended method of distribution, and the liability of such Holder shall be several and not joint, and
limited to an amount equal to the net proceeds from the offering received by such Holder. Notwithstanding any other provision
of this Subsection 2.3, if the underwriter(s) advise(s) the Initiating Holders in writing that marketing factors
require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable
Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included
in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion
(as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually
be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the
Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from
the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters
may round the number of shares allocated to any Holder to the nearest one hundred (100) shares. 

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(b)            
In connection with any offering involving an underwriting of shares of the Company’s capital stock pursuant to Subsection
2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless
the Holders accept the terms of the underwriting as agreed upon between the Company and its underwriters, and then only in such
quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company.
If the total number of securities, including Registrable Securities, requested by stockholders to be included in such offering
exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine
is compatible with the success of the offering, then the Company shall be required to include in the offering only that number
of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine
will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities
requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering
shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities
owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate
the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares
allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number
of Registrable Securities included in the offering be reduced unless all other securities (other than securities to be sold by
the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering
be reduced below twenty percent (20%) of the total number of securities included in such offering, unless such offering is the
IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and
no other stockholder’s securities are included in such offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation,
the partners, members, retired partners, retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate
Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the
foregoing Persons, shall be deemed to be a single “selling Holder,” and any pro rata reduction with respect to such
 “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included
in such “selling Holder,” as defined in this sentence.

 

(c)             
For purposes of Subsection 2.1, a registration shall not be counted as “effected” if, as a result of
an exercise of the underwriter’s cutback provisions in Subsection 2.3(a), fewer than the total number of Registrable
Securities that Holders have requested to be included in such registration statement are actually included. 

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2.4              Obligations of the Company. Whenever required under this Section 2 to effect the registration of any Registrable
Securities, the Company shall, as expeditiously as reasonably possible:

 

(a)             
prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable
efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable
Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days
or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however,
that (i) such one hundred twenty (120) day period shall be extended for a period of time equal to the period the Holder refrains,
at the request of an underwriter of Common Stock (or other securities) of the Company, from selling any securities included in
such registration;

 

(b)            
prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in connection
with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of
all securities covered by such registration statement;

 

(c)            
furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the
Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their
Registrable Securities;

 

(d)            
use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such
other securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided
that the Company shall not be required to qualify to do business or to file a general consent to service of process in any such
states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by
the Securities Act;

 

(e)             
in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the underwriter(s) of such offering;

 

(f)             
use its commercially reasonable efforts to cause all such Registrable Securities covered by such registration statement to be
listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar
securities issued by the Company are then listed;

 

(g)            
provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP
number for all such Registrable Securities, in each case not later than the effective date of such registration;

 

(h)            
promptly make available for inspection by the selling Holders, any underwriter(s) participating in any disposition pursuant to
such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the
selling Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the
Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by
any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of
the information in such registration statement and to conduct appropriate due diligence in connection therewith; 

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(i)              
notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has
been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and

 

(j)              
after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend
or supplement such registration statement or prospectus.

 

In
addition, the Company shall ensure that, at all times after any registration statement covering a public offering of securities
of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s
directors may implement a trading program under Rule 10b5-1 of the Exchange Act.

 

2.5            
Furnish Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to
this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company
such information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities
as is reasonably required to effect the registration of such Holder’s Registrable Securities.

 

2.6            
Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings,
or qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and
accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements, not to exceed $50,000,
of one counsel for the selling Holders selected by Holders of a majority of the Registrable Securities to be registered (“Selling
Holder Counsel”), shall be borne
and paid by the Company; provided, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Subsection 2.1 if the registration request is subsequently withdrawn at the request
of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such
expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration), unless
the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Subsections
2.1(a) or 2.1(b), as the case may be; provided further that if, at the time of such withdrawal, the Holders
shall have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the
Holders at the time of their request and have withdrawn the request with reasonable promptness after learning of such information
then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant
to Subsections 2.1(a) or 2.1(b). All Selling Expenses relating to Registrable Securities registered pursuant to
this Section 2 (other than fees and disbursements of counsel to any Holder, other than the Selling Holder Counsel, which
shall be borne solely by the Holder engaging such counsel) shall be borne and paid by the Holders pro rata on the basis of the
number of Registrable Securities registered on their behalf.

 

2.7             
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying
any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation
or implementation of this Section 2.

 

2.8             
Indemnification. If any Registrable Securities are included in a registration statement under this Section 2:

 

(a)             
To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members, officers,
directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined
in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter within the meaning
of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling
Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating
or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however,
that the indemnity agreement contained in this Subsection 2.8(a) shall not apply to amounts paid in settlement of any such
claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably
withheld, nor shall the Company be liable for any Damages to the extent that they arise out of or are based upon actions or omissions
made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling
Person, or other aforementioned Person expressly for use in connection with such registration. 

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(b)            
To the extent permitted by law, each selling Holder, severally and not jointly, will indemnify and hold harmless the Company,
and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls
the Company within the meaning of the Securities Act, legal counsel and accountants for the Company, any underwriter (as defined
in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any
such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages arise out of or are based
upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling
Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other
aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any
claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity
agreement contained in this Subsection 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding
if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further
that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections
2.8(b) and 2.8(d) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid
by such Holder), except in the case of fraud or willful misconduct by such Holder.

 

(c)             
Promptly after receipt by an indemnified party under this Subsection 2.8 of notice of the commencement of any action (including
any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim
in respect thereof is to be made against any indemnifying party under this Subsection 2.8,
give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to
participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying
party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party (together with all other indemnified parties that may be represented without conflict
by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due
to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such
action. The failure to give notice to the indemnifying party within a reasonable time of the commencement of any such action shall
relieve such indemnifying party of any liability to the indemnified party under this Subsection 2.8,
to the extent that such failure materially prejudices the indemnifying party’s ability to defend such action.
The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified
party otherwise than under this Subsection 2.8. 

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(d)            
To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any
party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection 2.8
but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration
of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding
the fact that this Subsection 2.8 provides for indemnification in such case, or (ii) contribution under the Securities
Act may be required on the part of any party hereto for which indemnification is provided under this Subsection 2.8,
then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities,
or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the
relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or other
actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations.
The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things,
whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates
to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge,
access to information, and opportunity to correct or prevent such statement or omission; provided, however, that,
in any such case (x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable
Securities offered and sold by such Holder pursuant to such registration statement, and (y) no Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability
pursuant to this Subsection 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to Subsection
2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder),
except in the case of willful misconduct or fraud by such Holder.

 

(e)             
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the
provisions in the underwriting agreement shall control; provided, however, that any matter expressly provided for or addressed
by the foregoing provisions that is not expressly provided for or addressed by the underwriting agreement shall be controlled
by the foregoing provisions.

 

(f)             
Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the
obligations of the Company and Holders under this Subsection 2.8 shall survive the completion of any offering of Registrable
Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement or any
provision(s) of this Agreement.

 

2.9              
Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule
or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration
or pursuant to a registration on Form S-3, the Company shall:

 

(a)             
make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all
times after the effective date of the registration statement filed by the Company for the IPO;

 

(b)            
use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements);
and 

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(c)             
furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate,
a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety
(90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities Act, and the
Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant
whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such other information
as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such
securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange
Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form).

 

2.10           
Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without
the prior written consent of the Holders of majority of the Registrable Securities then outstanding, enter into any agreement
with any holder or prospective holder of any securities of the Company that would provide to such holder or prospective holder
the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities
or on a subordinate basis after all Holders have had the opportunity to include in the registration and offering all shares of
Registrable Securities that they wish to so include; provided that this limitation shall not apply to Registrable Securities
acquired by any additional Investor that becomes a party to this Agreement in accordance with Subsection 6.9.

 

2.11           
“Market Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent
of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by
the Company of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement
on Form S-1 or Form S-3, and ending on the date specified by the Company and the managing underwriter (such period not to exceed
one hundred eighty (180) days in the case of the IPO), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract
to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or
dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable
(directly or indirectly) for Common Stock held by such Holder immediately before the effective date of the registration statement
for the IPO or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic
consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled
by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Subsection 2.11
shall apply only to the IPO, shall not apply to shares acquired in the IPO or in the open market following the IPO, shall not
apply to the sale of any shares to an underwriter pursuant to an underwriting agreement or the transfer of any shares to any trust
for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the
trust agrees to be bound in writing by the restrictions set forth herein, and provided  further that any such
transfer shall not involve a disposition for value; and shall be applicable to the Holders only if all officers and directors
are subject to the same restrictions and the Company uses commercially reasonable efforts to obtain a similar agreement from all
stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect
to conversion into Common Stock of all outstanding Preferred Stock). The underwriters in connection with such registration are
intended third-party beneficiaries of this Subsection 2.11 and shall have the right, power and authority to enforce the
provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably
requested by the underwriters in connection with such registration that are consistent with this Subsection 2.11 or that
are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such
agreements by the Company or the underwriters shall apply pro rata to all Company stockholders that are subject to such agreements,
based on the number of shares subject to such agreements. 

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2.12           
Restrictions on Transfer.

 

(a)             The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall
not recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer,
except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions
of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock
and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the provisions and upon
the conditions specified in this Agreement.

 

(b)            
Each certificate, instrument, or book entry representing (i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any
other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend,
recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Subsection
2.12(c)) be notated with a legend substantially in the following form:

 

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933.
SUCH SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION
AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.

 

THE
SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE
STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

 

The
Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Restricted
Securities in order to implement the restrictions on transfer set forth in this Subsection 2.12.

 

(c)             
The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions
of this Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect
a registration statement under the Securities Act covering the proposed transaction, the Holder thereof shall give notice to the
Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner
and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably requested by the Company,
shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal
opinion shall, be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction
may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect
that the proposed sale, pledge, or transfer of such Restricted Securities without registration will not result in a recommendation
by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel
to the Company to the effect that the proposed sale, pledge, or transfer of the Restricted Securities may be effected without
registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or
transfer such Restricted Securities in accordance with the terms of the notice given by the Holder to the Company. The Company
will not require such a notice, legal opinion or “no action” letter (x) in any transaction in compliance with SEC
Rule 144; or (y) in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for
no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12.
Each certificate, instrument, or book entry representing the Restricted Securities transferred as above provided
shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth
in Subsection 2.12(b), except that such certificate instrument, or book entry shall not be notated with such restrictive
legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance
with any provisions of the Securities Act. 

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2.13      
      Termination of Registration Rights. The right of any Holder to request registration or
inclusion of Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon
the earliest to occur of:

 

(a)        
      the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of
Incorporation; and

 

(b)        
      such time after consummation of the IPO as SEC Rule 144 or another similar exemption under the
Securities Act is available for the sale of all of such Holder’s shares without limitation during a three-month period
without registration.

 

3.             Information and Observer Rights.

 

3.1             
Delivery of Financial Statements. The Company shall deliver to each Major Investor:

 

(a)             
as soon as practicable, but in any event within ninety (90) days after the end of each fiscal year of the Company (i) a balance
sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and (iii) a statement of stockholders’
equity as of the end of such year, all such financial statements audited and certified by independent public accountants of nationally
or regionally recognized standing selected by the Company;

 

(b)        
      as soon as practicable, but in any event within forty-five (45) days after the end of each of the
first three (3) quarters of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal
quarter, and an unaudited balance sheet as of the end of such fiscal quarter, all prepared in accordance with GAAP (except
that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes
thereto that may be required in accordance with GAAP);

 

(c)             
as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the
next fiscal year (collectively, the “Budget”), prepared on a monthly basis, including balance sheets, income statements,
and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the
Company; and

 

(d)            
such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Major
Investor may from time to time reasonably request; provided, however, that the Company shall not be obligated under
this Subsection 3.1 to provide information (i) that the Company reasonably determines in good faith to be a trade secret
or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company);
or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and its counsel. 

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If,
for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of such
period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial
statements of the Company and all such consolidated subsidiaries.

 

Notwithstanding
anything else in this Subsection 3.1 to the contrary, the Company may cease providing the information set forth in this
Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate
of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules applicable
to such registration statement and related offering; provided that the Company’s covenants under this Subsection
3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially reasonable efforts to
cause such registration statement to become effective.

 

3.2              
Inspection; Notice of Legal Action. The Company shall permit each Major Investor, at such Major Investor’s expense,
to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s
affairs, finances, and accounts with its officers, during normal business hours of the Company as may be reasonably requested
by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Subsection
3.2 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential
information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure
of which would adversely affect the attorney-client privilege between the Company and its counsel. The Company shall provide notice
to each Major Investor in the event that any claim, action, suit or proceeding is initiated against the Company. 

 

3.3              
Observer Rights. 

 

(a)            
As long as Aisling Capital IV, LP (“Aisling”) is a Major Investor, the Company shall invite a representative
of Aisling to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative
copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same
manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence
and trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that the
Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof
if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company
and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative
is a competitor of the Company.

 

(b)            
As long as Vertex Global HC Fund II Pte. Ltd. (“Vertex”) is a Major Investor, the Company shall invite a representative
of Vertex to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative
copies of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same
manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence
and trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that the
Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof
if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company
and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative
is a competitor of the Company. 

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(c)             
As long as BVF Partners L.P. (“BVF”) is a Major Investor, the Company shall invite a representative of BVF
to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative copies
of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner
as provided to such directors; provided, however, that such representative shall agree to hold in confidence and
trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that the Company
reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access
to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company and
its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative is a
competitor of the Company.

 

(d)            
As long as Qiming U.S. Healthcare Fund II, L.P. (“Qiming”) is a Major Investor, the Company shall invite a
representative of Qiming to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give
such representative copies of all notices, minutes, consents, and other materials that it provides to its directors at the same
time and in the same manner as provided to such directors; provided, however, that such representative shall agree to hold in
confidence and trust and to act in a fiduciary manner with respect to all information so provided; and provided further, that
the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof
if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between the Company
and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative
is a competitor of the Company.

 

(e)             
As long as any Affiliate of Driehaus Capital Management LLC (“Driehaus”) is a Major Investor, the Company shall
invite a representative of Driehaus to attend all meetings of the Board in a nonvoting observer capacity and, in this respect,
shall give such representative copies of all notices, minutes, consents, and other materials that it provides to its directors
at the same time and in the same manner as provided to such directors; provided, however, that such representative shall agree
to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; and provided further,
that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion
thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between
the Company and its counsel or result in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative
is a competitor of the Company.

 

(f)             
As long as venBio is a Major Investor, the Company shall invite a representative of venBio to attend all meetings of the Board
in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents,
and other materials that it provides to its directors at the same time and in the same manner as provided to such directors; provided,
however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to
all information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude
such representative from any meeting or portion thereof if access to such information or attendance at such meeting could adversely
affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict
of interest, or if such Investor or its representative is a competitor of the Company.

 

(g)            
As long as Boxer Capital, LLC (“Boxer”) is a Major Investor, the Company shall invite a representative of Boxer
to attend all meetings of the Board in a nonvoting observer capacity and, in this respect, shall give such representative copies
of all notices, minutes, consents, and other materials that it provides to its directors at the same time and in the same manner
as provided to such directors; provided, however, that such representative shall agree to hold in confidence and trust and to
act in a fiduciary manner with respect to all information so provided; and provided further, that the Company reserves the right
to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information
or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result
in disclosure of trade secrets or a conflict of interest, or if such Investor or its representative is a competitor of the Company. 

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3.4              
Termination of Information and Observer Rights. The covenants set forth in Subsection 3.1, Subsection 3.2,
and Subsection 3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the
IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange
Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever
event occurs first.

 

3.5              
Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use
for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant
to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless such
confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Subsection
3.5 by such Investor), (b) is or has been independently developed or conceived by such Investor without use of the Company’s
confidential information, or (c) is or has been made known or disclosed to such Investor by a third party without a breach of
any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor
may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent reasonably
necessary to obtain their services in connection with monitoring its investment in the Company; (ii) to any prospective purchaser
of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Subsection
3.5; (iii) to any Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course
of business, provided that such Investor informs such Person that such information is confidential and directs such Person to
maintain the confidentiality of such information; or (iv) as may otherwise be required by law, regulation, rule, court order or
subpoena, provided that such Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize
the extent of any such required disclosure.

 

4.             Rights to Future Stock Issuances.

 

4.1              
Right of First Offer. Subject to the terms and conditions of this Subsection 4.1 and applicable securities laws,
if the Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor.
A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems
appropriate, among (i) itself, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners,
members or any other Person having “beneficial ownership,” as such term is defined in Rule 13d-3 promulgated under
the Exchange Act, of such Major Investor (“Investor Beneficial Owners”); provided that each such Affiliate
or Investor Beneficial Owner (x) is not a competitor, as reasonably determined by the Board, or FOIA Party, unless such party’s
purchase of New Securities is otherwise consented to by the Board, (y) agrees to enter into this Agreement and each of the
Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the
other parties named therein, as an “Investor” under each such agreement (provided that any competitor,
as reasonably determined by the Board, or FOIA Party shall not be entitled to any rights as a Major Investor under Subsections
3.1, 3.2 and 4.1 hereof), and (z) agrees to purchase at least such number of New Securities as are allocable
hereunder to the Major Investor holding the fewest number of shares of Preferred Stock and any other Derivative Securities. 

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(a)             
The Company shall give notice (the “Offer Notice”) to each Major Investor, stating (i) its bona fide intention
to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon
which it proposes to offer such New Securities.

 

(b)            
By notification to the Company within twenty (20) days after the Offer Notice is given, each Major Investor may elect to purchase
or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such New Securities which
equals the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then issuable
(directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities
then held by such Major Investor) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or
exercise, as applicable, of all Preferred Stock and any other Derivative Securities then outstanding). At the expiration of such
twenty (20) day period, the Company shall promptly notify each Major Investor that elects to purchase or acquire all the shares
available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise.
During the ten (10) day period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving
notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of
the New Securities for which Major Investors were entitled to subscribe but that were not subscribed for by the Major Investors
which is equal to the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or
exercise, as applicable, of Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears
to the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the
Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed
shares. The closing of any sale pursuant to this Subsection 4.1(b) shall occur within the later of ninety (90) days of
the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection 4.1(c).

 

(c)             
If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Subsection
4.1(b), the Company may, during the one hundred twenty (120) day period following the expiration of the periods provided in
Subsection 4.1(b), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at
a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company
does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated
within thirty (30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities
shall not be offered unless first reoffered to the Major Investors in accordance with this Subsection 4.1.

 

(d)            
The right of first offer in this Subsection 4.1 shall not be applicable to (i) Exempted Securities (as defined in the Certificate
of Incorporation); and (ii) shares of Common Stock issued in the IPO.

 

(e)             
Notwithstanding any provision hereof to the contrary, in lieu of complying with the provisions of this Subsection 4.1,
the Company may elect to give notice to the Major Investors within thirty (30) days after the issuance of New Securities. Such
notice shall describe the type, price, and terms of the New Securities. Each Major Investor shall have twenty (20) days from the
date notice is given to elect to purchase up to the number of New Securities that would, if purchased by such Major Investor,
maintain such Major Investor’s percentage-ownership position, calculated as set forth in Subsection 4.1(b) before
giving effect to the issuance of such New Securities.

 

4.2            
Termination. The covenants set forth in Subsection 4.1 shall terminate and be of no further force or effect (i)
immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements
of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon the closing of a Deemed Liquidation Event, as such term is defined
in the Certificate of Incorporation, whichever event occurs first and, as to each Major Investor, in accordance with Subsection
4.1(e). 

    18

     

    

5.               
Additional Covenants.

 

5.1           
Insurance. The Company has obtained from financially sound and reputable insurers Directors and Officers liability insurance,
in an amount and on terms and conditions satisfactory to the Board, and will use commercially reasonable efforts to cause such
insurance policy to be maintained until such time as the Board determines that such insurance should be discontinued. The policy
shall not be cancelable by the Company without prior approval by the Board, including at least one of the Series B Directors.

 

5.2           
Employee Agreements. The Company will cause (i) each Person now or hereafter employed by it or by any subsidiary (or engaged
by the Company or any subsidiary as a consultant/independent contractor) with access to material confidential information and/or
trade secrets to enter into a nondisclosure and proprietary rights assignment agreement; and (ii) each Key Employee to enter into
a one (1) year noncompetition and nonsolicitation agreement, substantially in the form approved by the Board. In addition, the
Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements
or any restricted stock agreement between the Company and any employee, without the approval of the Board.

 

5.3           
Employee Stock. Unless otherwise approved by the Board, all future employees and consultants of the Company who purchase,
receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required
to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period,
with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service,
and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and (ii) a market stand-off
provision substantially similar to that in Subsection 2.11.

 

5.4      
      Matters Requiring Investor Director Approval. So long as the holders of Series A Preferred
Stock are entitled to elect a Series A Director or the holders of the Series B Preferred Stock are entitled to elect a Series
B Director, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the
Board, which approval must include the affirmative vote of the Requisite Preferred Directors:

 

(a)             
make, or permit any subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other
corporation, partnership, or other entity unless it is wholly owned by the Company;

 

(b)         
    make, or permit any subsidiary to make, any loan or advance to any Person, including, without limitation,
any employee or director of the Company or any subsidiary, except advances and similar expenditures in the ordinary course of
business or under the terms of an employee stock or option plan approved by the Board;

 

(c)            
guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness except for
trade accounts of the Company or any subsidiary arising in the ordinary course of business; 

    19

     

    

(d)            
make any investment inconsistent with any investment policy approved by the Board;

 

(e)            
incur any aggregate indebtedness in excess of $500,000 that is not already included in a budget approved by the Board, other than
trade credit incurred in the ordinary course of business;

 

(f)             
otherwise enter into or be a party to any transaction with any director, officer, or employee of the Company or any “associate”
(as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, except for: transactions contemplated by this
Agreement, the Purchase Agreement, and the other Transaction Agreements (as defined in the Purchase Agreement); transactions resulting
in payments to or by the Company in an aggregate amount less than $60,000 per year; or transactions made in the ordinary course
of business and pursuant to reasonable requirements of the Company’s business and upon fair and reasonable terms that are
approved by a majority of the Board;

 

(g)            
hire, terminate, or change the compensation of the executive officers outside of the ordinary course of business, including approving
any option grants or stock awards to executive officers;

 

(h)            
change the principal business of the Company, enter new lines of business, or exit the current line of business;

 

(i)             
sell, assign, license, pledge, or encumber material technology or intellectual property, other than licenses granted in the ordinary
course of business; or

 

(j)             
enter into any corporate strategic relationship involving the payment, contribution, or assignment by the Company or to the Company
of money or assets greater than $500,000.

 

5.5          
  Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, including the affirmative
vote of at least one of the Series B Directors, the Board shall meet at least quarterly in accordance with an agreed-upon schedule.
The Company shall reimburse the directors for all reasonable out-of-pocket travel expenses incurred (consistent with the Company’s
travel policy) in connection with providing service to the Company and attending meetings of the Board and other Company events.
Any costs and expenses incurred by a board observer shall be the responsibility of the party entitled to appoint such board observer
under Subsection 3.3. Subject to the approval of the Board of the venBio Director’s service on such committee, the
venBio Director shall be entitled in such person’s discretion to be a member of all committees of the Board. 

 

5.6           
Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other
Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary,
proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with
respect to indemnification of members of the Board as in effect immediately before such transaction, whether such obligations
are contained in the Company’s Bylaws, the Certificate of Incorporation, or elsewhere, as the case may be.

 

5.7           
Indemnification Matters. The Company hereby acknowledges that one (1) or more of the directors nominated to serve on the
Board by the Investors (each an “Investor Director”) may have certain rights to indemnification, advancement
of expenses and/or insurance provided by one or more of the Investors and certain of their Affiliates (collectively, the “Investor
Indemnitors”).  The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations
to any such Investor Director are primary and any obligation of the Investor Indemnitors to advance expenses or to provide indemnification
for the same expenses or liabilities incurred by such Investor Director are secondary), (b) that it shall be required to advance
the full amount of expenses incurred by such Investor Director and shall be liable for the full amount of all expenses, judgments,
penalties, fines and amounts paid in settlement by or on behalf of any such Investor Director to the extent legally permitted
and as required by the Company’s Certificate of Incorporation or Bylaws of the Company (or any agreement between the Company
and such Investor Director), without regard to any rights such Investor Director may have against the Investor Indemnitors, and,
(c) that it irrevocably waives, relinquishes and releases the Investor Indemnitors from any and all claims against the Investor
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 Investor Indemnitors on behalf of any such Investor Director with respect to any claim for
which such Investor Director has sought indemnification from the Company shall affect the foregoing and the Investor 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 such Investor Director against the Company. The Investor Directors and the Investor Indemnitors are intended third-party beneficiaries
of this Subsection 5.7 and shall have the right, power and authority to enforce the provisions of this Subsection 5.7
as though they were a party to this Agreement. 

    20

     

    

5.8         
   Right to Conduct Activities. The Company hereby agrees and acknowledges that each of the Investors (together
with its Affiliates) is a professional investment organization, and as such reviews the business plans and related
proprietary information of many enterprises, some of which may compete directly or indirectly with the Company’s
business (as currently conducted or as currently propose to be conducted).  The Company hereby agrees that, to the
extent permitted under applicable law, each Investor (and its Affiliates) shall not be liable to the Company for any claim
arising out of, or based upon, (i) the investment by such Investor (or its Affiliates) in any entity competitive with the
Company, or (ii) actions taken by any partner, officer, employee or other representative of such Investor  (or its
Affiliates) to assist any such competitive company, whether or not such action was taken as a member of the board of
directors of such competitive company or otherwise, and whether or not such action has a detrimental effect on the Company;
provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the
unauthorized disclosure of the Company’s confidential information obtained pursuant to this Agreement, or (y) any
director or officer of the Company from any liability associated with his or her fiduciary duties to the Company.

 

5.9             FCPA. The Company covenants that it shall not (and shall not permit any of its subsidiaries or Affiliates or any of its
or their respective directors, officers, managers, employees, independent contractors, representatives or agents to) promise,
authorize or make any payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party, including
any Non-U.S. Official (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)),
in each case, in violation of the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The
Company further covenants that it shall (and shall cause each of its subsidiaries and Affiliates to) cease all of its or their
respective activities, as well as remediate any actions taken by the Company, its subsidiaries or Affiliates, or any of their
respective directors, officers, managers, employees, independent contractors, representatives or agents in violation of the FCPA,
the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company further covenants that it shall
(and shall cause each of its subsidiaries and Affiliates to) maintain systems of internal controls (including, but not limited
to, accounting systems, purchasing systems and billing systems) to ensure compliance with the FCPA, the U.K. Bribery Act, or any
other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or
certifications concerning its compliance with applicable anti-corruption laws. The Company shall promptly notify each Investor
if the Company becomes aware of any Enforcement Action (as defined in the Purchase Agreement). The Company shall, and shall cause
any direct or indirect subsidiary or entity controlled by it, whether now in existence or formed in the future, to comply with
the FCPA. The Company shall use its best efforts to cause any direct or indirect subsidiary, whether now in existence or formed
in the future, to comply in all material respects with all applicable laws. 

    21

     

    

5.10           Termination of Covenants. The covenants set forth in this Section 5, except for Subsections 5.6 and 5.7,
shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company
first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon
a Deemed Liquidation Event, as such term is defined in the Certificate of Incorporation, whichever event occurs first.

 

6.             Miscellaneous.

 

6.1             Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder
to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member
or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or (iii) after
such transfer, holds at least 25,000 shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock
dividends, combinations, and other recapitalizations); provided, however, that (x) the Company is, within a reasonable
time after such transfer, furnished with written notice of the name and address of such transferee and the Registrable Securities
with respect to which such rights are being transferred; and (y) such transferee agrees in a written instrument delivered to the
Company to be bound by and subject to the terms and conditions of this Agreement, including the provisions of Subsection 2.11.
For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee
(1) that is an Affiliate or stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust
for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with those
of the transferring Holder; provided  further that all transferees who would not qualify individually for assignment
of rights shall, as a condition to the applicable transfer, establish a single attorney-in-fact for the purpose of exercising
any rights, receiving notices, or taking any action under this Agreement. The terms and conditions of this Agreement inure to
the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted
assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided
herein.

 

6.2             Governing Law. This Agreement shall be governed by the internal law of the State of Delaware, without regard to conflict
of law principles that would result in the application of any law other than the law of the State of Delaware.

 

6.3             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.

 

6.4             Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered
in construing or interpreting this Agreement. 

    22

     

    

6.5             Notices. 

 

(a)             All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic
mail or facsimile during the recipient’s normal business hours, and if not sent during normal business hours, then on the
recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt
requested, postage prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight
courier, freight prepaid, specifying next-day delivery, with written verification of receipt. All communications shall be sent
to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company
and to the attention of the Chief Executive Officer, in the case of the Company, or to such email address, facsimile number, or
address as subsequently modified by written notice given in accordance with this Subsection 6.5. If notice is given to
the Company, a copy shall also be sent to Hutchison PLLC, 3110 Edwards Mill Road, Suite 300, Raleigh, NC 27612, Attention: Bill
Wofford (bwofford@hutchlaw.com).

 

(b)        
     Consent to Electronic Notice. Each Investor consents to the delivery of any stockholder
notice pursuant to the Delaware General Corporation Law (the “DGCL”), as amended or superseded from time to time,
by electronic transmission pursuant to Section 232 of the DGCL (or any successor thereto) at the electronic mail address or
the facsimile number as on the books of the Company. Each Investor agrees to promptly notify the Company of any change in
such stockholder’s electronic mail address, and that failure to do so shall not affect the foregoing.

 

6.6             Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance of any term
of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only
with the written consent of the Company and the holders of at least a majority of the Registrable Securities then outstanding;
provided that the Company may in its sole discretion waive compliance with Subsection 2.12(c)
(and the Company’s failure to object promptly in writing after notification of a proposed assignment allegedly
in violation of Subsection 2.12(c) shall be deemed to be a waiver); and
provided further that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent
of any other party. Notwithstanding the foregoing, (a) this Agreement may not be amended, modified or terminated and the observance
of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment,
modification, termination, or waiver applies to all Investors in the same fashion (it being agreed that a waiver of the provisions
of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if
such waiver does so by its terms, notwithstanding the fact that certain Investors may nonetheless, by agreement with the Company,
purchase securities in such transaction); (b) Subsections 3.1 and 3.2 and any other section of this Agreement applicable
to the Major Investors (including this clause (b) of this Subsection 6.6) may not be amended, modified, terminated or waived
without the written consent of the holders of at least a majority of the Registrable Securities then outstanding and held by the
Major Investors; (c) Subsection 3.3(a) and this Subsection 6.6(c) may not be amended, modified, terminated
or waived without the written consent of Aisling; (d) Subsection 3.3(b) and this Subsection 6.6(d) may not
be amended, modified, terminated or waived without the written consent of Vertex; (e) Subsection 3.3(c) and this Subsection
6.6(e) may not be amended, modified, terminated or waived without the written consent of BVF; (f) Subsection 3.3(d)
and this Subsection 6.6(f) may not be amended, modified, terminated or waived without the written consent of Qiming;
(g) Subsection3.3(e) and this Subsection 6.6(g) may not be amended, modified, terminated or waived without
the written consent of Driehaus; (h) Subsection 3.3(f) and this Subsection 6.6(h) may not be amended, modified,
terminated or waived without the written consent of venBio; and (i) Subsection 3.3(g) and this Subsection 6.6(i)
may not be amended, modified, terminated or waived without the written consent of Boxer. Notwithstanding the foregoing, Schedule
A hereto may be amended by the Company from time to time to add transferees of any Registrable Securities in compliance with
the terms of this Agreement without the consent of the other parties; and Schedule A hereto may also be amended by the
Company after the date of this Agreement without the consent of the other parties to add information regarding any additional
Investor who becomes a party to this Agreement in accordance with Subsection 6.9. The Company shall give prompt notice
of any amendment, modification or termination hereof or waiver hereunder to any party hereto that did not consent in writing to
such amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance
with this Subsection 6.6 shall be binding on all parties hereto, regardless of whether any such party has consented thereto.
No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed
to be or construed as a further or continuing waiver of any such term, condition, or provision. 

    23

     

    

6.7             Severability. In case any one or more of the provisions contained in this Agreement is for any reason held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision
of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and construed so that it will be valid,
legal, and enforceable to the maximum extent permitted by law.

 

6.8             Aggregation of Stock. All shares of Registrable Securities held or acquired by Affiliates shall be aggregated together
for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such
rights as among themselves in any manner they deem appropriate.

 

6.9             Additional Investors. Notwithstanding anything to the contrary contained herein, if the Company issues additional shares
of the Company’s Preferred Stock after the date hereof, any purchaser of such shares of Preferred Stock may become a party
to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall
be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such
joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by
all of the obligations as an “Investor” hereunder.

 

6.10           Entire Agreement; Prior Agreement Superseded. This Agreement (including any Schedules and Exhibits hereto) together with
the other Transaction Documents (as defined in the Purchase Agreement) constitutes the full and entire understanding and agreement
among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter
hereof existing between the parties is expressly canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall
be deemed amended and restated and superseded and replaced in its entirety by this Agreement, and shall be of no further force
or effect.

 

6.11           Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts
of Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit,
action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding
arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the
District of Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such
suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its
property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced
in or by such court.  

    24

     

    

Waiver
of Jury Trial: EACH PARTY HEREBY WAIVES ITS RIGHTS
TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION AGREEMENTS,
THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND
ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION,
CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS
SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH
PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT
SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

6.12           Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement,
upon any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching
or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or to any similar
breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach
or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law or otherwise afforded to
any party, shall be cumulative and not alternative.

 

[Remainder
of Page Intentionally Left Blank] 

    25

     

    

IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights Agreement as of the date first written
above.

 

	 	ELEVATION
    ONCOLOGY, INC.
	 	 	 
	 	By:	/s/
    Steven Elms
	 	Name:
    Steven Elms
	 	Title:
    President & CEO

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 	 
	 	VENBIO
    PARTNERS LLC
	 	 	 
	 	By:	/s/
    Richard Gaster
	 	Name:
         Richard Gaster
	 	Title:
           Partner

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 
	 	CORMORANT
    PRIVATE HEALTHCARE FUND III, LP
	 	 	 
	 	By:
    Cormorant Private GP III, LLC
	 	 	 
	 	By:	/s/
    Bihua Chen
	 	Name:
       Bihua Chen
	 	Title:
         Managing Member
	 	 	 
	 	CORMORANT
    GLOBAL HEALTHCARE MASTER FUND, LP
	 	 	 
	 	By:
    Cormorant Global GP, LLC
	 	 	 
	 	By:	/s/
    Bihua Chen
	 	Name:
        Bihua Chen
	 	Title:
          Managing Member
	 	 	 
	 	CRMA
    SPV, L.P.
	 	 	 
	 	By:
    Cormorant Asset Management, LP
	 	 	 
	 	By:	/s/
    Bihua Chen
	 	Name:
       Bihua Chen
	 	Title:
         Attorney-In-Fact

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTORS:
	 	 	 
	 	BOXER
    CAPITAL, LLC
	 	 	 
	 	By:	/s/
    Aaron Davis
	 	Name:
       Aaron Davis
	 	Title:
         Chief Executive Officer
	 	 	 
	 	MVA
    INVESTORS, LLC
	 	 	 
	 	By:	/s/
    Aaron Davis
	 	Name:
       Aaron Davis
	 	Title:
         Chief Executive Officer

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 	 
	 	SAMSARA
    BIOCAPITAL, L.P.
	 	 	 
	 	By:	/s/Srinivas
    Akkaraju
	 	Name:
       Srinivas Akkaraju
	 	Title:
         Managing General Partner

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 	 
	 	VIVO OPPORTUNITY FUND, L.P.
	 	 	 
	 	By: Vivo Opportunity, LLC, General Partner
	 	 	 
	 	By:	/s/ Albert Cha
	 	Name:    Albert Cha
	 	Title:      Managing Member

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTORS:
	 	 	 
	 	JANUS
    HENDERSON HORIZON FUND - BIOTECHNOLOGY FUND
	 	 	 
	 	By:
    Janus Capital Management LLC, its investment advisor
	 	 	 
	 	By:	/s/
    Andrew Acker
	 	Name:
       Andrew Acker
	 	Title:
         Authorized Signatory
	 	 	 
	 	JANUS
    HENDERSON BIOTECH INNOVATION MASTER FUND LIMITED
	 	 	 
	 	By:
    Janus Capital Management LLC, its investment advisor
	 	 	 
	 	By:	/s/
    Andrew Acker
	 	Name:
       Andrew Acker
	 	Title:
         Authorized Signatory

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 	 
	 	AISLING
    CAPITAL IV, LP
	 	 	 
	 	By:	/s/
    Robert Wenzel
	 	Name:
        Robert Wenzel
	 	Title:
          CFO

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 	 
	 	VERTEX
    GLOBAL HC FUND II PTE. LTD.
	 	 	 
	 	By:	/s/
    Chua Kee Lock
	 	Name:
       Chua Kee Lock
	 	Title:
         Director

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTORS:
	 	 	 
	 	BIOTECHNOLOGY
    VALUE FUND, LP
	 	 	 
	 	By:	/s/
    Mark Lampert
	 	Name: Mark Lampert
	 	Title: Chief Executive Officer BVF I GP LLC, itself General Partner of Biotechnology Value Fund, L.P.
	 	 	 
	 	BIOTECHNOLOGY
    VALUE FUND II, LP
	 	 	 
	 	By:	/s/
    Mark Lampert
	 	Name:
    Mark Lampert
	 	Title:
    Chief Executive Officer BVF II GP LLC, itself General Partner of Biotechnology Value Fund II, L.P.
	 	 	 
	 	BIOTECHNOLOGY
    VALUE TRADING FUND OS, L.P.
	 	 	 
	 	By:	/s/
    Mark Lampert
	 	Name:
    Mark Lampert
	 	Title:
    President BVF Inc., General Partner of BVF Partners L.P., itself sole member of BVF Partners OS Ltd., itself GP of Biotechnology
    Value Trading Fund OS, L.P.
	 	 	 
	 	MSI
    BVF SPV, L.L.C. (c/o Magnitude Capital)
	 	 	 
	 	By:	/s/
    Mark Lampert
	 	Name:
    Mark Lampert
	 	Title:
    President BVF Inc., itself General Partner of BVF Partners L.P., itself attorney-in-fact for MSI BVF SPV, L.L.C.

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTORS:
	 	 	 
	 	DRIEHAUS
    EVENT DRIVEN FUND, A SERIES OF DRIEHAUS MUTUAL FUNDS
	 	 	 
	 	By:
    Driehaus Capital Management LLC, its investment adviser
	 	 	 
	 	By:	/s/
    Janet McWilliams
	 	Name:
    Janet McWilliams
	 	Title:
    General Counsel
	 	 	 
	 	DRIEHAUS
    LIFE SCIENCES MASTER FUND, L.P.
	 	 	 
	 	By:
    Driehaus Capital Management LLC, its investment adviser
	 	 	 
	 	By:	/s/
    Janet McWilliams
	 	Name:
    Janet McWilliams
	 	Title:
    General Counsel
	 	 	 
	 	DESTINATIONS
    MULTI-STRATEGY ALTERNATIVES FUND, A SERIES OF BRINKER CAPITAL DESTINATIONS TRUST
	 	 	 
	 	By:
    Driehaus Capital Management LLC, its investment subadviser
	 	 	 
	 	By:	/s/
    Janet McWilliams
	 	Name
    Janet McWilliams
	 	Title:
    General Counsel

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 
	 	QIMING
    U.S. HEALTHCARE FUND II, L.P., a Delaware limited partnership
	 	 	 
	 	By:
    QIMING U.S. HEALTHCARE GP II, LLC, a Delaware limited liability company
	 	Its:
    General Partner
	 	 	 
	 	By:	/s/
    Mark McDade
	 	Name:
    Mark McDade
	 	Its:
    Authorized Signatory

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 
	 	/s/
    Franklin Berger
	 	Franklin
    Berger

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 
	 	/s/
    Sai-Hong Ou
	 	Sai-Hong
    Ou

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

	 	INVESTOR:
	 	 
	 	/s/
    Lori Kunkel
	 	Lori
    Kunkel

 

Signature
Page to Amended and Restated Investors’ Rights Agreement

     

     

    

SCHEDULE
A

 

Investors

 

venBio
Partners LLC 

1700
Owens Street, Suite 595 

San
Francisco, CA 94158 

Attn:
Richard Gaster 

Email:
richard@venbio.com

 

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

 

Sidley
Austin LLP 

1999
Avenue of the Stars, 17th Floor 

Los
Angeles, CA 90067 

Attn:
Mehdi Khodadad 

Email:
mkhodadad@sidley.com 

 

Cormorant
Private Healthcare Fund III, LP 

200
Clarednon Street, 52nd Floor 

Boston,
MA 02116 

Attn:
Jay Scollin 

Attn:
Neb Obradovic 

Email:
   scollins@cormorant-asset.com 

      neb@cormorant-asset.com 

 

Cormorant
Global Healthcare Master Fund, LP 

200
Clarednon Street, 52nd Floor 

Boston,
MA 02116 

Attn:
Jay Scollin 

Attn:
Neb Obradovic 

Email:
scollins@cormorant-asset.com 

     neb@cormorant-asset.com 

 

CRMA
SPV, L.P. 

200
Clarednon Street, 52nd Floor 

Boston,
MA 02116 

Attn:
Jay Scollin 

Attn:
Neb Obradovic 

Email:
scollins@cormorant-asset.com 

     neb@cormorant-asset.com 

 

Boxer
Capital, LLC

12860 El Camino Real, Suite 300

San Diego, CA 92130 

Attn:
Aaron Davis 

Email:adavis@tavistock.com 

     

     

    

MVA
Investors, LLC

12860 El Camino Real, Suite 300

San Diego, CA 92130 

Attn:
Aaron Davis 

Email:adavis@tavistock.com

 

Samsara
BioCapital, L.P.

565
Everett Ave.

Palo Alto, CA 94301 

Attn: 

Email:   srini@samsaracap.com 

      rich@samsaracap.com

 

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

 

Wilmer,
Cutler, Pickering, Hale and Dorr LLP

60 State Street

Boston, MA 02109 

Attn:
Jason Kropp

Email: Jason.Kropp@wilmerhale.com

 

Vivo
Opportunity Fund, L.P. 

192
Lytton Ave.

Palo Alto, CA 94301 

Attn:
Albert Cha 

Email:
acha@vivocapital.com 

 

Janus
Henderson Horizon Fund - Biotechnology Fund

c/o Janus Capital Management, LLC

151 Detroit Street

Denver, CO 80206 

Attn:
Andy Acker

Attn: Angela Morton 

Email:
andy.acker@janushenderson.com 

    amorton@janushenderson.com

 

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

 

Perkins
Coie LLP 

3150
Porter Drive 

Palo
Alto, CA 94306 

Attn:
Adrian Rich 

Email:
arich@perkinscoie.com

     

     

    

Janus
Henderson Biotech Innovation Master Fund Limited 

c/o
Janus Capital Management, LLC

151 Detroit Street

Denver, CO 80206 

Attn:
Andy Acker

Attn: Angela Morton 

Email:
andy.acker@janushenderson.com

    amorton@janushenderson.com

 

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

 

Perkins
Coie LLP 

3150
Porter Drive 

Palo
Alto, CA 94306 

Attn:
Adrian Rich 

Email:
arich@perkinscoie.com

 

Aisling
Capital IV, LP 

888
Seventh Avenue, 12th Floor 

New
York, NY 10106 

Attn:
Steven Elms 

Fax:
212 651 6379 

Email:
selms@aislingcapital.com

 

and

 

Aisling
Capital IV, L.P. 

888
Seventh Avenue, 12th Floor 

New
York, NY 10106 

Attn:
Chief Financial Officer 

Fax:
212 651 6379 

Email:
rwenzel@aislingcapital.com

 

With
a required copy to: 

 

McDermott
Will & Emery LLP 

340
Madison Avenue 

New
York, NY 10173-1922 

Attn:
Todd Finger 

Fax:
212 547 5444 

Email:
tfinger@mwe.com 

 

Vertex
Global HC Fund II Pte. Ltd. 

345
S. California Ave.

Palo Alto, CA 94306

Attn: Lori Hu

Email: lhu@vertexventureshc.com

     

     

    

Biotechnology
Value Fund, LP 

44
Montgomery Street, 40th Floor 

San
Francisco, CA 94104

 

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

 

Gibson,
Dunn & Crutcher LLP

555
Mission Street, Suite 3000 

San
Francisco, CA 94105 

Attention:
Ryan A. Murr

 

Biotechnology
Value Fund II, LP 

44
Montgomery Street, 40th Floor 

San
Francisco, CA 94104

 

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

 

Gibson,
Dunn & Crutcher LLP 

555
Mission Street, Suite 3000 

San
Francisco, CA 94105 

Attention:
Ryan A. Murr

 

Biotechnology
Value Trading Fund OS, L.P. 

PO
Box 309 Ugland House 

Grand
Cayman, KY1- 1104 

Cayman
Islands

 

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

 

Gibson,
Dunn & Crutcher LLP 

555
Mission Street, Suite 3000 

San
Francisco, CA 94105 

Attention:
Ryan A. Murr

 

MSI
BVF SPV, L.L.C. (c/o Magnitude Capital) 

200
Park Avenue, 56th Floor 

New
York, NY 10166

 

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

 

Gibson,
Dunn & Crutcher LLP 

555
Mission Street, Suite 3000 

San
Francisco, CA 94105 

Attention:
Ryan A. Murr

     

     

    

Destinations
Multi-Strategy Alternatives Fund, A Series of Brinker Capital Destinations Trust 

25
E. Erie

Chicago, IL 60611

Attn: Janet McWilliams, General Counsel 

Email:
jmcwilliams@driehaus.com 

 

Driehaus
Event Driven Fund, A Series of Driehaus Mutual Funds 

25
E. Erie

Chicago, IL 60611

Attn: Janet McWilliams, General Counsel 

Email:
jmcwilliams@driehaus.com 

 

Driehaus
Life Sciences Master Fund, L.P. 

25
E. Erie

Chicago, IL 60611

Attn: Janet McWilliams, General Counsel 

Email:
jmcwilliams@driehaus.com 

 

Qiming
U.S. Healthcare Fund II, L.P.

11100 NE 8th Street, Suite 200 

Bellevue,
Washington 98004 

Attn:
Colin Walsh 

Email:
colin@qimingvc.com

 

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

 

DLA
Piper LLP (US) 

701
Fifth Avenue, Suite 6900 

Seatle,
WA 98104 

Attn:
Kerra Melvin 

Email:
kerra.melvin@dlapiper.com 

 

Franklin
Berger 

 

     

     

    

Sai-Hong
Ou 

 

Lori
KunkelExhibit 10.2

 

14ner
Oncology, Inc.

 

2019
STOCK INCENTIVE PLAN

 

	1.	Purpose

 

The
purpose of this 2019 Stock Incentive Plan (the “Plan”) of 14ner Oncology, Inc., a Delaware corporation
(the “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s
ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing
such persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with
those of the Company’s stockholders. Except where the context otherwise requires, the term “Company”
includes the Company’s present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of
the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”) and
other business ventures (including, without limitation, any joint venture or limited liability company) in which the Company has
a controlling interest, as determined by the Board of Directors of the Company (the “Board”).

 

	2.	Eligibility

 

All
of the Company’s employees, officers, directors, and individual consultants and advisors (each a “Service Provider”)
are eligible to receive options, restricted stock, restricted stock units and other stock-based awards (each, an “Award”)
under the Plan. Each person who receives an Award under the Plan is deemed a “Participant.”

 

	3.	Administration
and Delegation

 

(a)          Administration by Board of Directors. The Plan shall be administered by the Board. The Board shall have authority to grant
Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem
advisable. The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the
manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such
expediency. All decisions by the Board shall be made in the Board’s sole discretion and shall be final and binding on all
persons having or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the authority delegated
by the Board shall be liable for any action or determination relating to or under the Plan made in good faith.

 

(b)          Appointment of Committees. To the extent permitted by applicable law, the Board may delegate any or all of its powers under
the Plan to one or more committees or subcommittees of the Board (a “Committee”). All references in the Plan
to the “Board” shall mean the Board or a Committee of the Board to the extent that the Board’s powers
or authority under the Plan have been delegated to such Committee.

 

	4.	Stock
Available for Awards.

 

(a)          Subject to adjustment under Section 8, Awards may be made under the Plan for up to 8,333,333 shares of the common stock of the
Company, par value of $0.0001 per share (the “Common Stock”). If any Award expires or is terminated, surrendered
or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common
Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase
right) or results in any Common Stock not being issued, the unused Common Stock covered by such Award shall again be available
for the grant of Awards under the Plan. Further, shares of Common Stock tendered to the Company by a Participant to exercise an
Award shall be added to the number of shares of Common Stock available for the grant of Awards under the Plan. However, in the
case of Incentive Stock Options (as hereinafter defined), the foregoing provisions shall be subject to any limitations under the
Code. Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares. At no
time while there is any Option (as defined below) outstanding and held by a Participant who was a resident of the State of California
on the date of grant of such Option, shall the total number of shares of Common Stock issuable upon exercise of all outstanding
options and the total number of shares provided for under any stock bonus or similar plan or agreement of the Company exceed the
applicable percentage as calculated in accordance with the conditions and exclusions of Section 260.140.45 of the California Code
of Regulations, as amended (the “California Regulations”), based on the shares of the Company which are outstanding
at the time the calculation is made unless the Plan complies with all conditions of Rule 701 of the Securities Act of 1933, as
amended.

     

     

    

(b)          Substitute Awards. In connection with a merger or consolidation of an entity with the Company or the acquisition by the
Company of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based
awards granted by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Board deems appropriate
in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against
the overall share limit set forth in Section 4(a), except as may be required by reason of Section 422 and related provisions of
the Code.

 

	5.	Stock
Options

 

(a)          General. The Board may grant options to purchase Common Stock (each, an “Option”) and determine the
number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations
applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it
considers necessary or advisable. An Option, or portion of an Option, which is not intended to be or fails to qualify as an Incentive
Stock Option (as hereinafter defined) shall be designated a “Nonstatutory Stock Option.”

 

(b)          Incentive Stock Options. An Option that the Board intends to be an “incentive stock option” as defined in Section
422 of the Code (an “Incentive Stock Option”) shall only be granted to employees of the Company and any other
entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall
be construed consistently with the requirements of Section 422 of the Code. A Participant who owns more than 10% of the total
combined voting power of all classes of outstanding stock of the Company shall not be eligible for the grant of an Incentive Stock
Option unless (i) the exercise price is at least 110% of the Fair Market Value (as defined below) on the date the Option
is granted and (ii) such Incentive Stock Option by its terms is not exercisable after the expiration of five years from the
date the Option is granted. The Company shall have no liability to a Participant, or any other party, if an Option (or any part
thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or for any action taken by the Board
pursuant to Section 9(g), including without limitation the conversion of an Incentive Stock Option to a Nonstatutory Stock Option.

 

(c)          Exercise Price. The Board shall establish the exercise price of each Option and specify such exercise price in the applicable
option agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted unless
the Board specifically determines that the exercise price is intended to be less than such Fair Market Value, in which case the
option agreement shall contain provisions complying with Section 409A of the Code; provided that if the Board approves the grant
of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair
Market Value on such future date. The term “Fair Market Value” shall mean, as of a given date: (i) if the Common
Stock is listed on a national securities exchange, the last sale price of the Common Stock in the principal trading market for
the Common Stock on such date; (ii) if the Common Stock is not listed on a national securities exchange, but is traded in the
over-the counter market, the closing bid price for the Common Stock on such date, as reported by the OTC Bulletin Board or the
National Quotation Bureau, Incorporated or similar publisher of such quotations; or (iii) if the Common Stock is not listed on
a national securities exchange or traded in the over-the-counter market, such price as shall be determined by (or in a manner
approved by) the Board in good faith and in compliance with applicable provisions of the Code and the regulations issued thereunder.

     

     

    

(d)          Duration of Options. Each Option shall be exercisable at such times and subject to such terms and conditions as the Board
may specify in the applicable option agreement. 

 

(e)          Exercise of Option. Options may be exercised by delivery to the Company of a written notice of exercise signed by the proper
person or by any other form of notice (including electronic notice) approved by the Board together with payment in full as specified
in Section 5(f) for the number of shares of Common Stock for which the Option is exercised. Shares of Common Stock subject to
the Option will be delivered by the Company following exercise either as soon as practicable or, subject to such conditions as
the Board shall specify, on a deferred basis (with the Company’s obligation to be evidenced by an instrument providing for
future delivery of the deferred shares at the time or times specified by the Board).

 

(f)           Payment Upon Exercise. Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for as
follows:

 

(1)         in cash or by check, payable to the order of the Company;

 

(2)         except as may otherwise be provided in the applicable option agreement, by (i) delivery of an irrevocable and unconditional undertaking
by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding
or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker
to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

 

(3)         when the Common Stock is registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
and to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery
(either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value,
provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from
the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board in its discretion
and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

 

(4)         to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board, in its
sole discretion, by (i) delivery of a promissory note of the Participant to the Company on terms determined by the Board, or (ii) payment
of such other lawful consideration as the Board may determine; or

 

(5)         by any combination of the above permitted forms of payment.

     

     

    

	6.	Restricted
Stock; Restricted Stock Units

 

(a)           General. The Board may grant Awards entitling recipients to acquire shares of Common Stock (“Restricted Stock”),
subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price
(or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the
Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by
the Board for such Award. Instead of granting Awards for Restricted Stock, the Board may grant Awards entitling the recipient
to receive shares of Common Stock to be delivered at the time such shares of Common Stock vest (“Restricted Stock Units”)
(Restricted Stock and Restricted Stock Units are each referred to herein as a “Restricted Stock Award”). 

 

(b)           Terms and Conditions. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions
for repurchase (or forfeiture) and the issue price, if any. 

 

(c)           Additional Provisions Relating to Restricted Stock.

 

(1)         Dividends. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect
to such shares, unless otherwise provided by the Board. If any such dividends or distributions are paid in shares, or consist
of a dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the shares, cash or other property
will be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect
to which they were paid. Each dividend payment will be made no later than the end of the calendar year in which the dividends
are paid to stockholders of that class of stock or, if later, the 15th day of the third month following the date the dividends
are paid to stockholders of that class of stock.

 

(2)         Stock Certificates. The Company may require that any stock certificates issued in respect of a Restricted Stock Award shall
be registered in the name of the Participant and be deposited by the Participant, together with a stock power endorsed in blank,
with the Company (or its designee). After the expiration of the applicable restriction periods, upon request of a Participant
or as otherwise determined by the Company, the Company (or such designee) shall deliver the certificates no longer subject to
such restrictions to the Participant or if the Participant has died, to the beneficiary designated, in a manner determined by
the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant’s
death (the “Designated Beneficiary”). In the absence of an effective designation by a Participant, “Designated
Beneficiary” shall mean the Participant’s then living spouse, or, if none, the Participant’s estate.

 

	7.	Other
Stock-Based Awards

 

Other
Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based
on, shares of Common Stock or other property, may be granted hereunder to Participants (“Other Stock-Based Awards”),
including without limitation stock appreciation rights and Awards entitling recipients to receive shares of Common Stock to be
delivered in the future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other
Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock-Based
Awards may be paid in shares of Common Stock or cash, as the Board shall determine. Subject to the provisions of the Plan, the
Board shall determine the conditions of each Other Stock-Based Award, including any purchase price applicable thereto.

     

     

    

	8.	Adjustments
for Changes in Common Stock and Certain Other Events

 

(a)           Changes in Capitalization. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination
of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution
to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan,
(ii) the number and class of securities and exercise price per share of each outstanding Option, (iii) the number of shares subject
to and the repurchase price per share subject to each outstanding Restricted Stock Award, and (iv) the terms of each other outstanding
Award shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by
the Board. Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means
of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the
date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises
an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution
date, the stock dividend with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact
that such shares were not outstanding as of the close of business on the record date for such stock dividend.

 

(b)           Change in Control

 

(1)          Definition. Unless otherwise specifically provided in an Award agreement, a “Change in Control” shall
be deemed to have occurred upon the first to occur of:

 

(i)          any “person” (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becoming a “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing either (A)
more than a majority of the voting power of the then outstanding securities of the Company, or (B) more than a majority of the
aggregate fair market value of the then outstanding securities of the Company; provided, however, that a Change
in Control shall not be deemed to occur as a result of (x) a transaction in which the Company becomes a subsidiary of another
corporation and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately
after the transaction, shares entitling such stockholders to more than majority of all votes to which all stockholders of the
parent corporation would be entitled in the election of directors, or (y) a transaction in which the person acquires newly issued
securities of the Company in exchange for an investment in the Company; or

 

(ii)         the consummation of either: (A) a merger, share exchange, consolidation or reorganization of the Company where the stockholders
of the Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger, share
exchange, consolidation or reorganization, shares entitling such stockholders to either (x) more than a majority of all votes
to which all stockholders of the surviving corporation would be entitled in the election of directors, or (y) more than a majority
of the aggregate fair market value of then outstanding securities of the Company; or (B) a sale or other disposition of all or
substantially all of the assets of the Company.

 

(2)          Consequences of a Change in Control on Awards Other than Restricted Stock Awards. In connection with a Change in Control,
the Board may take any one or more of the following actions as to all (or any portion of) outstanding Awards other than Restricted
Stock Awards on such terms as the Board determines: (i) provide that Awards shall be assumed, or substantially equivalent
Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) in compliance with the applicable
provisions of the Code, including Code Sections 409A, 422 and 424, (ii) upon written notice to a Participant, provide that
the Participant’s unexercised Options or other unexercised Awards will terminate immediately prior to the consummation of
such Change in Control unless exercised by the Participant within a specified period following the date of such notice, (iii) provide
that outstanding Awards shall become exercisable, realizable or deliverable, or restrictions applicable to an Award shall lapse,
in whole or in part prior to or upon such Change in Control, (iv) in the event of a Change in Control under the terms of
which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Change in
Control (the “Acquisition Price”), make or provide for a cash payment to a Participant equal to the excess,
if any, of (A) the Acquisition Price times the number of shares of Common Stock subject to the Participant’s Options
or other Awards (to the extent the exercise price does not exceed the Acquisition Price) less (B) the aggregate exercise price
of all such outstanding Options or other Awards and any applicable tax withholdings, in exchange for the termination of such Options
or other Awards, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into
the right to receive liquidation proceeds (if applicable, net of the exercise price thereof) and (vi) any combination of the foregoing.
In taking any of the actions permitted under this Section 8(b), the Board shall not be obligated by the Plan to treat all Awards,
or all Awards of the same type, identically.

     

     

    

 For
purposes of clause (i) above, an Option shall be considered assumed if, following consummation of the Change in Control, the Option
confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the
Change in Control, the consideration (whether cash, securities or other property) received as a result of the Change in Control
by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Change in Control
(and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding
shares of Common Stock); provided, however, that if the consideration received as a result of the Change in Control
is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent
of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of Options to consist
solely of common stock of the acquiring or succeeding corporation (or an affiliate thereof) with equivalent in value (as determined
by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Change
in Control.

 

(3)          Consequences of a Change in Control on Restricted Stock Awards. Upon the occurrence of a Change in Control other than a
liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock
Award shall inure to the benefit of the Company’s successor and shall, unless the Board determines otherwise, apply to the
cash, securities or other property which the Common Stock was converted into or exchanged for pursuant to such Change in Control
in the same manner and to the same extent as they applied to the Common Stock subject to such Restricted Stock Award. Upon the
occurrence of a Change in Control involving the liquidation or dissolution of the Company, except to the extent specifically provided
to the contrary in the instrument evidencing any Restricted Stock Award or any other agreement between a Participant and the Company,
all restrictions and conditions on all Restricted Stock Awards then outstanding shall automatically be deemed terminated or satisfied.

 

	9.	General
Provisions Applicable to Awards

 

(a)          Transferability of Awards. Except as the Board may otherwise expressly determine or provide in an Award, Awards shall not
be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or
by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option,
pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant.
References to a Participant, to the extent relevant in the context, shall include references to authorized transferees. 

     

     

    

(b)          Documentation. Unless otherwise expressly determined by the Board, each Incentive Stock Option shall be evidenced by a
Notice of Incentive Stock Option and Incentive Stock Option Agreement substantially in the form attached as Exhibit A,
each Nonstatutory Stock Option shall be evidenced by a Notice of Nonstatutory Stock Option and Nonstatutory Stock Option Agreement
substantially in the form attached as Exhibit B, and each Restricted Stock Award shall be evidenced by a Summary
of Restricted Stock Purchase and Restricted Stock Purchase Agreement substantially in the form attached as Exhibit C.
Each Award may contain terms and conditions in addition to those set forth in the Plan.

 

(c)          Board Discretion. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation
to any other Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly.

 

(d)          Termination of Status. The Board shall determine the effect on an Award of the disability, death, termination of employment,
authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the
period during which, the Participant, or the Participant’s legal representative, conservator, guardian or Designated Beneficiary,
may exercise rights under the Award.

 

(e)          Withholding. The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding
obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award.
The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company
elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required
for withholding or have a broker tender to the Company cash equal to the withholding obligations. Payment of withholding obligations
is due before the Company will issue any shares on exercise or release from forfeiture of an Award or, if the Company so requires,
at the same time as is payment of the exercise price unless the Company determines otherwise. If provided for in an Award or approved
by the Board in its sole discretion, a Participant may satisfy such tax obligations in whole or in part by delivery of shares
of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; provided,
however, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy
such tax obligations cannot exceed the Company’s minimum statutory withholding obligations (based on minimum statutory withholding
rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares
surrendered to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other
similar requirements.

 

(f)           Amendment of Award. 

 

(1)       The
Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award
of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory
Stock Option, provided that the Participant’s consent to such action shall be required unless the Board determines that
the action, taking into account any related action, would not materially and adversely affect the Participant.

 

(2)       The
Board may, without stockholder approval, amend any outstanding Award granted under the Plan to provide an exercise price per share
that is lower than the then-current exercise price per share of such outstanding Award provided that such amended exercise price
is at least equal to the then-current Fair Market Value. The Board may also, without stockholder approval, cancel any outstanding
award (whether or not granted under the Plan) and grant in substitution new Awards under the Plan covering the same or a different
number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of
the cancelled award.

     

     

    

(g)          Conditions on Delivery of Stock. The Company will not be obligated to deliver any shares of Common Stock pursuant to the
Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been
met or removed to the satisfaction of the Company, (ii) in the opinion of the Company’s counsel, all other legal matters
in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and
any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the
Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable
laws, rules, regulations or contracts of the Company.

 

(h)          Acceleration. The Board may at any time provide that any Award shall become immediately exercisable in full or in part,
free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be.

 

	10.	Miscellaneous

 

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

 

(b)           No Rights As Stockholder. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall
have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming
the record holder of such shares. Notwithstanding the foregoing, in the event the Company effects a split of the Common Stock
by means of a stock dividend or otherwise and the exercise price of and the number of shares subject to such Option are adjusted
as of the effective date of the stock dividend or split (rather than as of the record date for such stock dividend or split),
then an optionee who exercises an Option between the record date and the distribution date for such stock dividend or split shall
be entitled to receive, on the distribution date, the stock dividend or split with respect to the shares of Common Stock acquired
upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record
date for such stock dividend or split.

 

(c)           Effective Date and Term of Plan. The Plan shall become effective on the date on which it is adopted by the Board. No Awards
shall be granted under the Plan after the expiration of 10 years from the earlier of (i) the date on which the Plan was adopted
by the Board or (ii) the date the Plan was approved by the Company’s stockholders, but Awards previously granted may extend
beyond that date.

 

(d)           Amendment of Plan. The Board may amend, suspend or terminate the Plan or any portion thereof at any time; provided,
however, that if at any time the approval of the Company’s stockholders is required as to any modification or amendment
under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such
modification or amendment without such approval. Unless otherwise specified in the amendment, any amendment to the Plan adopted
in accordance with this Section 10(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan
at the time the amendment is adopted, provided the Board determines that such amendment does not materially and adversely affect
the rights of Participants under the Plan.

     

     

    

(e)           Authorization of Sub-Plans. The Board may from time to time establish one or more sub-plans under the Plan for purposes
of satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by
adopting supplements to this Plan containing (i) such limitations on the Board’s discretion under the Plan as the Board
deems necessary or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board
shall deem necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement
shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any
supplement to Participants in any jurisdiction which is not the subject of such supplement.

 

(f)            Non-Plan Equity-Based Awards. Nothing in this Plan is intended to, or shall, impair or affect the Board’s ability
to make non-Plan equity-based awards. 

 

(g)           Compliance with Code Section 409A. It is intended that all Awards granted hereunder be either exempt from, or issued in
compliance with, Code Section 409A. The Company shall have no liability to a Participant, or any other party, if an Award that
is intended to be exempt from, or compliant with, Code Section 409A is not so exempt or compliant, or for any action taken by
the Board.

 

(h)           Governing Law. The provisions of the Plan and all Awards made hereunder shall be governed by and construed in accordance
with the laws of Delaware.

 

*
* * * * * * *

     

     

    

14ner
Oncology, Inc.

 

2019
STOCK INCENTIVE PLAN

 

CALIFORNIA
SUPPLEMENT

 

Pursuant
to Section 10(e) of the Plan, the Board has adopted this supplement for purposes of satisfying the requirements of Section 25102(o)
of the California Corporations Code, as amended:

 

Any
Awards granted under the Plan to a Participant who is a resident of the State of California on the date of grant (a “California
Participant”) shall be subject to the following additional limitations, terms and conditions:

 

	1.	Additional
Limitations on Awards.

 

(a)          Generally. The terms of all Awards granted to a California Participant under Sections 5, 6 or 7 of the Plan shall comply,
to the extent applicable, with Section 260.140.41 or Section 260.140.42 of the California Regulations.

 

(b)          Maximum Duration of Options. No Options granted to California Participants shall have a term in excess of 10 years measured
from the Option grant date.

 

(c)          Minimum Exercise Period Following Termination. Unless a California Participant’s employment is terminated for cause
(as defined by applicable law, the terms of any contract of employment between the Company and such Participant, or in the instrument
evidencing the grant of such Participant’s Option), in the event of termination of employment of such Participant, such
Participant shall have the right to exercise an Option, to the extent that he or she was otherwise entitled to exercise such Option
on the date employment terminated, until the earlier of the Option expiration date or: (i) at least six months from the date of
termination, if termination was caused by such Participant’s death or “permanent and total disability”
(within the meaning of Section 22(e)(3) of the Code) and (ii) at least 30 days from the date of termination, if termination was
caused other than by such Participant’s death or “permanent and total disability” (within the meaning of Section
22(e)(3) of the Code).

 

2.            Additional Requirement to Provide Information to California Participants. Unless the Plan or agreement complies with all
conditions of Rule 701 of the Securities Act of 1933, as amended (“Rule 701”), the Company shall provide to
each California Participant and to each California Participant who acquires Common Stock pursuant to the Plan, not less frequently
than annually, copies of annual financial statements (which need not be audited). The Company shall not be required to provide
such statements to key employees whose duties in connection with the Company assure their access to equivalent information or
when the Plan or agreement complies with all conditions of Rule 701.

 

3.            Additional Limitations on Timing of Awards. No Award granted to a California Participant shall become exercisable, vested
or realizable, as applicable to such Award, unless the Plan has been approved by the holders of at least a majority of the Company’s
outstanding voting securities by the later of (i) within 12 months before or after the date the Plan was adopted by the Board
or the agreement entered into; and (ii) prior to or within 12 months of the granting of any option or issuance of any security
under the Plan or agreement to a California Participant. 

 

4.            Additional Restriction Regarding Recapitalizations, Stock Splits, Etc. For purposes of Section 8 of the Plan, in the event
of a stock split, reverse stock split, stock dividend, recapitalization, combination, reclassification or other distribution of
the Company's securities, the number of securities allocated to each California Participant must be adjusted proportionately and
without the receipt by the Company of any consideration from any California Participant.

     

     

    

FIRST
AMENDMENT TO THE

14NER
ONCOLOGY, INC.  

2019
STOCK INCENTIVE PLAN

 

THIS
FIRST AMENDMENT to the 14ner Oncology, Inc. 2019 Stock Incentive Plan (the “Plan”) is effective as of December
30, 2019.

 

WHEREAS,
the Board of Directors (the “Board”) of 14ner Oncology, Inc., a Delaware corporation (the “Company”),
has adopted, and the stockholders of the Company have approved, the Plan; and

 

WHEREAS,
the Board of the Company has approved this amendment of the Plan in order to increase the number of shares of Common Stock of
the Company issuable pursuant to awards granted under the Plan by 612,500 shares, from 8,333,333 to 8,945,833 shares, and the
Board has recommended this amendment to the stockholders for approval.

 

NOW,
THEREFORE, the Plan shall be amended as follows:

 

1.            The
first sentence of Section 4(a) of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 

“Subject
to adjustment under Section 8, Awards may be made under the Plan for up to 8,945,833 shares of the Common Stock of the Company,
par value $0.0001 per share (the “Common Stock).”

 

2.            Except
as amended herein, the terms and provisions of the Plan shall remain unchanged and in full force and effect.

 

IN
WITNESS WHEREOF, the undersigned has executed this First Amendment to the 14ner Oncology, Inc., 2019 Stock Incentive Plan as of
the date set forth above.

 

	 	14NER
    ONCOLOGY, INC.
	 	 	 
	 	By:	/s/ Steven
    Elms
	 	 	Steven Elms, CEO

     

     

    

SECOND
AMENDMENT TO THE

14NER
ONCOLOGY, INC.  

2019
STOCK INCENTIVE PLAN

 

THIS
SECOND AMENDMENT to the 14ner Oncology, Inc. 2019 Stock Incentive Plan (the “Plan”) is effective as of March
12, 2020.

 

WHEREAS,
the Board of Directors (the “Board”) of 14ner Oncology, Inc., a Delaware corporation (the “Company”),
has adopted, and the stockholders of the Company have approved, the Plan;

 

WHEREAS,
on February 12, 2020, the Company changed its name from “14ner Oncology, Inc.” to “Elevation Oncology, Inc”;
and

 

WHEREAS,
the Board of the Company has approved this amendment of the Plan in order to change the references to the name of the Company
from “14ner Oncology, Inc.” to “Elevation Oncology, Inc”.

 

NOW,
THEREFORE, the Plan shall be amended as follows:

 

2.            The
title of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 

“ELEVATION
ONCOLOGY, INC.

 

2019
STOCK INCENTIVE PLAN”

 

2.            The
first sentence of Section 1 of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 

“The
purpose of this 2019 Stock Incentive Plan (the “Plan”) of Elevation Oncology, Inc., a Delaware corporation
(the “Company”), is to advance the interests of the Company’s stockholders by enhancing the Company’s
ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing
such persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with
those of the Company’s stockholders.”

 

3.           The
title of California Supplement to the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 

“ELEVATION
ONCOLOGY, INC.

 

2019
STOCK INCENTIVE PLAN

 

CALIFORNIA
SUPPLEMENT”

     

     

    

4.       Except
as amended herein, the terms and provisions of the Plan shall remain unchanged and in full force and effect.

 

IN
WITNESS WHEREOF, the undersigned has executed this Second Amendment to the 14ner Oncology, Inc., 2019 Stock Incentive Plan as
of the date set forth above.

 

	 	ELEVATION
ONCOLOGY, INC. 
	 	 	 
	 	By:	/s/ Steven
    Elms
	 	 	Steven Elms, CEO

     

     

    

THIRD
AMENDMENT TO THE

ELEVATION
ONCOLOGY, INC.  

2019
STOCK INCENTIVE PLAN

 

THIS
THIRD AMENDMENT to the Elevation Oncology, Inc. 2019 Stock Incentive Plan (the “Plan”) is effective as of November
10, 2020.

 

WHEREAS,
the Board of Directors (the “Board”) of Elevation Oncology, Inc., a Delaware corporation (the “Company”),
has adopted, and the stockholders of the Company have approved, the Plan;

 

WHEREAS,
the Board of the Company has approved this amendment of the Plan in order to increase the number of shares of Common Stock of
the Company issuable pursuant to awards granted under the Plan by 5,028,067 shares, from 8,945,833 shares to 13,973,900 and the
Board has recommended this amendment to the stockholders for approval.

 

NOW,
THEREFORE, the Plan shall be amended as follows:

 

3.            The
first sentence of Section 4(a) of the Plan shall be deleted in its entirety and the following substituted in lieu thereof:

 

“Subject
to adjustment under Section 8, Awards may be made under the Plan for up to 13,973,900 shares of the Common Stock of the Company,
par value $0.0001 per share (the “Common Stock).”

 

2.            Except
as amended herein, the terms and provisions of the Plan shall remain unchanged and in full force and effect.

 

IN
WITNESS WHEREOF, the undersigned has executed this Third Amendment to the Elevation Oncology, Inc., 2019 Stock Incentive Plan
as of the date set forth above.

 

	 	ELEVATION
ONCOLOGY, INC. 
	 	 	 
	 	By:	/s/ Steven
    Elms
	 	 	Steven Elms, CEO

     

     

    

EXHIBIT
A

 

Notice
of Incentive Stock Option

and

Incentive Stock Option Agreement

     

     

    

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

NOTICE
OF INCENTIVE STOCK OPTION 

2019
STOCK INCENTIVE PLAN

 

Elevation
Oncology, Inc. (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”) grants to the undersigned
(the “Participant”) the following incentive stock option to purchase shares (the “Shares”)
of the common stock of the Company, par value of $0.0001 per share (the “Common Stock”), pursuant to the Company’s
2019 Stock Incentive Plan (the “Plan”):

 

	Participant:

         
	*[Participant
    Name]
	Total
        Number of Shares:

         
	*[Number
    of Shares]
	Grant
        Date:

         
	*[Grant
    Date]
	Exercise
        Price per Share:

         
	$*[Exercise
    Price]
	Vesting
        Commencement Date:

         
	*[Vesting
    Date]
	Vesting
        Schedule:

         
	*[Describe
        Vesting Schedule – for example: “25% of the Total Number of Shares shall vest and become exercisable on the
        1 year anniversary of the Vesting Commencement Date and 1/48 of the Total Number of Shares shall vest and become exercisable
        on the corresponding day of each month thereafter, or on the last day of each month, to the extent each month thereafter
        does not have the corresponding day, until all of the Shares have vested on the fourth anniversary of the Vesting Commencement
        Date, subject to Participant continuing to be a Service Provider through each such date.”]

        

        *[In
        addition, this Option may vest and become exercisable on an accelerated basis under Section 2 of the Incentive Stock Option
        Agreement.]

         

	Final
        Exercise Date:

         
	*[Expiration
    Date].  This Option may expire earlier pursuant to Section 3 of the Incentive Stock Option Agreement if the
    Participant’s relationship with the Company is terminated or pursuant to Section 8 of the Plan.

     

     

    

This
incentive stock option is granted under and governed by the terms and conditions of the Plan and the Incentive Stock Option Agreement,
both of which are incorporated herein by reference. By signing below, the Participant accepts this incentive stock option, acknowledges
receipt of a copy of the Plan and the Incentive Stock Option Agreement, and agrees to the terms thereof.

 

	*[PARTICIPANT NAME]:	 	ELEVATION ONCOLOGY, INC.:
	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	By:	 	 	 
	(Signature)	 	 	 	 	 
	 	 	Name:	 
	 	 	 	 	 	 
	Address:	 	 	Title:	 	 
	 	 	 	 	 	 
	 	 	Date:	 	 

     

     

    

THE
OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT
AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR APPLICABLE LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS
COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

Elevation
Oncology, Inc.  

(f/k/a
14ner Oncology, Inc.)

 

INCENTIVE
STOCK OPTION AGREEMENT 

Granted
under 2019 Stock Incentive Plan

 

	1.	Grant
of Option.

 

This
Incentive Stock Option Agreement (the “Agreement”) evidences the grant by Elevation Oncology, Inc. (f/k/a 14ner
Oncology, Inc.), a Delaware corporation (the “Company”), on the Grant Date to the Participant, an employee
of the Company, of an option (this “Option”) to purchase, in whole or in part, on the terms provided herein
and in the Plan, the Total Number of Shares at the Exercise Price per Share, all as defined and set forth in the accompanying
Notice of Incentive Stock Option (the “Notice”). Capitalized terms that are not otherwise defined herein or
in the Notice shall have the meanings given to such terms in the Plan.

 

It
is intended that this Option shall be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986,
as amended, and any regulations promulgated thereunder (the “Code”). If for any reason the Option, or any portion
thereof, does not meet the requirements of Section 422 of the Code, then the Option, or any portion thereof, as necessary, shall
be deemed a nonstatutory stock option granted under the Plan. Except as otherwise indicated by the context, the term “Participant,”
as used in this Agreement, shall include any person who acquires the right to exercise this Option validly under its terms.

 

	2.	Vesting
Schedule.

 

This
Option shall vest and become exercisable at the time or times set forth in the accompanying Notice. [In addition, this
Option may vest and become exercisable on an accelerated basis as follows:

 

*[Insert
any applicable acceleration provisions, such as one of the following examples.]

 

*[If,
prior to the Final Exercise Date, the Participant’s status as a Service Provider is terminated by the Company without Cause
(as defined in Section 3(e) below), then, immediately upon the effective date of such termination, this Option shall become exercisable
as to [partial acceleration: that portion of the Total Number of Shares that otherwise would have vested during the *[___]
month period following the effective date of such termination, it being understood that in no event shall the Participant
be entitled to exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.] OR [full
acceleration: 100% of the Total Number of Shares, it being understood that in no event shall the Participant be entitled to
exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.]

 

[Single
Trigger] *[Immediately prior to the effective date of a Change in Control, this Option shall vest and become exercisable as
to [partial acceleration: that portion of the Total Number of Shares that otherwise would have vested during the *[___]
month period following the effective date of such Change in Control, it being understood that in no event shall the Participant
be entitled to exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.] OR [full
acceleration: 100% of the Total Number of Shares, it being understood that in no event shall the Participant be entitled to
exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.]

     

     

    

[Double
Trigger] *[If (a) upon the consummation of a Change in Control this Option is assumed, or a substantially equivalent award
is substituted, by the acquiring or succeeding corporation (in accordance with Section 8(b)(2)(i) of the Plan) and (b) within
*[12] months following such Change in Control the Participant’s status as a Service Provider is terminated by the
acquiring or succeeding corporation without Cause (as defined in Section 3(e) below), then, immediately upon the effective date
of such termination, this Option shall vest and become exercisable as to [partial acceleration: that portion of the Total
Number of Shares that otherwise would have vested during the *[___] month period following the effective date of
such termination, it being understood that in no event shall the Participant be entitled to exercise the Option to purchase greater
than the Total Number of Shares as a result of this provision.] OR [full acceleration: 100% of the Total Number of Shares,
it being understood that in no event shall the Participant be entitled to exercise the Option to purchase greater than the Total
Number of Shares as a result of this provision.]

 

	3.	Exercise
of Option.

 

(a)          Form of Exercise. Each election to exercise this Option shall be in writing in substantially the form of the Notice of
Stock Option Exercise attached to this Agreement as Exhibit A, signed by the Participant, and received by the Company
at its principal office, accompanied by this Agreement, and payment in full in the manner provided in the Plan. The Participant
may purchase less than the number of Shares subject to this Option; provided that, no partial exercise of this Option may
be for any fractional share.

 

(b)          Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this Option may
not be exercised unless the Participant, at the time of the exercise of this Option, is, and has been at all times since the Grant
Date, a Service Provider to or of the Company or any subsidiary of the Company as defined in Section 424 (f) of the Code (an “Eligible
Participant”).

 

(c)          Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then,
except as provided in paragraphs (d) and (e) below, the right to exercise this Option shall terminate three months after
such cessation (but in no event after the Final Exercise Date); provided that, this Option shall be exercisable only to
the extent that the Participant was entitled to exercise this Option on the date of such cessation. Notwithstanding the foregoing,
if the Participant, prior to the Final Exercise Date, violates the non-competition or confidentiality provisions of any employment
agreement, confidentiality and nondisclosure agreement, or other agreement between the Participant and the Company, the right
to exercise this Option shall terminate immediately upon such violation.

 

(d)          Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3)
of the Code) prior to the Final Exercise Date while the Participant is an Eligible Participant and the Company has not terminated
such relationship for “Cause” (as defined below), this Option shall be exercisable, within the period of one year
following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee);
provided that, this Option shall be exercisable only to the extent that this Option was exercisable by the Participant
on the date of the Participant’s death or disability, and further provided that this Option shall not be exercisable after
the Final Exercise Date.

     

     

    

(e)          Termination for Cause. If, prior to the Final Exercise Date, the Participant’s status as a Service Provider is terminated
by the Company for Cause (as defined below), the right to exercise this Option shall terminate immediately upon the effective
date of such termination. If the Participant is party to an agreement with the Company that contains an applicable definition
of “cause”, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise,
 “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform the
Participant’s responsibilities to the Company (including, without limitation, breach by the Participant of any provision
of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and
the Company), as determined by the Company, which determination shall be conclusive. The Participant shall be considered to have
been discharged for Cause if the Company determines, within 30 days after the Participant’s resignation or termination other
than for Cause, that discharge for Cause was warranted.

 

	4.	Restrictions
on Transfer; Rights of First Refusal and Stockholder Agreements.

 

(a)          Bylaws. The Participant acknowledges and agrees that the Shares are subject to the provisions of the Company’s Bylaws,
as amended from time to time (the “Bylaws”), including without limitation, all restrictions on transfer and
rights of first refusal described in the Bylaws. The Participant may inspect the Bylaws at the Company’s principal office.

 

(b)          Legend. Any certificate representing Shares shall bear a legend substantially in the following form (in addition to, or
in combination with, any legend required by applicable federal and state securities laws and agreements relating to the transfer
and/or voting of the Company securities):

 

“The
securities represented by this certificate, and the transfer thereof, are subject to the restriction on transfer provisions of
the Bylaws of the Company, a copy of which is on file in, and may be examined at, the principal office of the Company”

 

(c)          Stockholder
Agreements. The Participant acknowledges and agrees that the Company may condition the issuance of the Shares upon the Participant
joining and becoming a party to such stockholder agreements, which may impose certain contractual rights and obligations on the
Shares, as may be entered into from time to time by and among the Company and certain holders of the Company’s capital stock.

 

5.            Agreement in Connection with Public Offering. The Participant agrees, in connection with the initial underwritten public
offering of the Company’s securities pursuant to a registration statement under the Securities Act of 1933, as amended (the
 “Securities Act”): (i) not to sell, make short sale of, loan, grant any options for the purchase of, or otherwise
dispose of any shares of Common Stock held by the Participant (other than those shares included in the offering) without the prior
written consent of the Company or the underwriters managing such initial underwritten public offering of the Company’s securities
for a period of 180 days from the effective date of such registration statement, which period may be extended upon the request
of the underwriters for an additional period of up to 15 days if the Company issues or proposes to issue an earnings or other
public release within 15 days of the expiration of the 180-day lockup period, and (ii) to execute any agreement reflecting clause
(i) above as may be requested by the Company or the managing underwriters at the time of such offering.

 

The
Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters
of such offering which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if
requested, by the Company or the underwriters of such offering, the Participant shall provide, within 10 days of such request,
such information as may be required by the Company or such underwriters in connection with the completion of any public offering
of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described
in this Section 5 shall not apply to a registration relating solely to employee benefits plans on Form S-1 or Form S-8 or similar
forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4
or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the
shares of Common Stock (or other securities) subject to the foregoing restriction until the end of the applicable period. Participant
agrees that any transferee of this Option or Shares pursuant to this Agreement shall be bound by this Section 5.

     

     

    

	6.	Tax
Matters.

 

(a)          Withholding. No Shares shall be issued pursuant to the exercise of this Option unless and until the Participant pays to
the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required
by law to be withheld in respect of this Option.

 

(b)          Disqualifying Disposition. If the Participant disposes of Shares acquired upon exercise of this Option within two years
from the Grant Date or one year after such Shares were acquired pursuant to exercise of this Option, the Participant shall immediately
notify the Company in writing of such disposition and shall timely satisfy all resulting tax obligations and shall hold the Company
harmless with respect to any such tax obligations.

 

(c)          Code
Section 409A. The Exercise Price is intended to be the Fair Market Value of the Common Stock on the Grant Date. The Company
has determined the Fair Market Value of the Common Stock in good faith and using the reasonable application of a reasonable valuation
method, for purposes of determining the Exercise Price. Notwithstanding this, the Internal Revenue Service may assert that the
Fair Market Value of the Common Stock on the Grant Date was greater than the Exercise Price. Under Code Section 409A, if the Exercise
Price is less than the Fair Market Value of the Common Stock as of the Grant Date, this Option may be treated as a form of deferred
compensation and the Participant may be subject to an additional 20% tax, plus interest and possible penalties. The Participant
acknowledges that the Company has advised the Participant to consult with a tax adviser regarding the potential impact of Code
Section 409A and that the Company, in the exercise of its sole discretion and without the consent of the Participant, may amend
or modify this Agreement in any manner and delay the payment of any amounts payable pursuant to this Agreement to the minimum
extent necessary to meet the requirements of Code Section 409A, as amplified by any Internal Revenue Service or U.S. Treasury
Department regulations or guidance as the Company deems appropriate or advisable.

 

7.            Nontransferability of Option. This Option may not be sold, assigned, transferred, pledged or otherwise encumbered by the
Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the
lifetime of the Participant, this Option shall be exercisable only by the Participant.

 

8.            Provisions of the Plan. This Option is subject to the provisions of the Plan, a copy of which is furnished to the Participant
with this Option.

 

9             Entire
Agreement; Governing Law. The Plan and the accompanying Notice are incorporated herein by reference. This Agreement, the Notice
and the Plan constitute the entire agreement between the Company and the Participant with respect to the subject matter hereof
and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject
matter hereof. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without
reference to conflict of law provisions.

     

     

    

10.         Amendment.
Except as set forth in Section 6(c), this Agreement may not be modified or amended in any manner adverse to the Participant’s
interest except by means of a writing signed by the Company and Participant.

 

11.         No
Guarantee of Continued Service. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF OPTIONS PURSUANT TO THE VESTING
SCHEDULE SET FORTH HEREIN AND IN THE NOTICE ARE EARNED ONLY BY CONTINUING SERVICE AT THE WILL OF THE COMPANY (NOT THROUGH THE
ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES
THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS
OR IMPLIED PROMISE OF CONTINUED SERVICE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY
WITH PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S SERVICE WITH OR WITHOUT CAUSE.

 

*         *        *

     

     

    

Exhibit
A

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

NOTICE
OF INCENTIVE STOCK OPTION EXERCISE

2019
STOCK INCENTIVE PLAN

 

The
undersigned (the “Participant”) has previously been awarded an incentive stock option (the “Option”)
to purchase shares (the “Shares”) of the common stock of Elevation Oncology, Inc. (f/k/a 14ner Oncology, Inc.),
a Delaware corporation (the “Company”), pursuant to the Company’s 2019 Stock Incentive Plan (the “Plan”),
and hereby notifies the Company of the Participant’s desire to exercise the Option on the terms set forth herein:

 

	 	PARTICIPANT INFORMATION:	 	 	OPTION INFORMATION:	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Name:	 	 	 	Grant Date:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Address:	 	 	 	Exercise Price Per	 	 	 	 
	 	 	 	 	 	Share:	$____________________	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Taxpayer	 	 	 	Total Shares Covered	 	 	 	 
	 	ID #:	 	 	 	 	by Option:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

  

	EXERCISE
    INFORMATION:
	 
	Number
    of Shares Being Purchased:	______________________
	 	 
	Aggregate
    Exercise Price:	$____________________
	 	 
	 	 
	Form
    of Payment (check all that apply):	☐       Check
        for $_________ made payable to “Elevation Oncology, Inc.”

         

        ☐       Cash
        in the amount of $_________

        

	 	 
	Please
    register the Shares

 in
my name as follows:	 	 
		(Print
        name as it is to appear on stock certificate)

                                                                                                                                             
	

         

     

     

    

REPRESENTATIONS
AND WARRANTIES OF THE PARTICIPANT:

 

 The
Participant hereby represents and warrants to the Company that, as of the date hereof:

 

1.             I am purchasing the Shares for my own account for investment only, and not with a view to, or for sale in connection with, any
distribution of the Shares in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or
regulation under the Securities Act.

 

2.             I have had such opportunity as I have deemed adequate to obtain from representatives of the Company such information as is necessary
to permit me to evaluate the merits and risks of my investment in the Company.

 

3.             I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase
of the Shares and to make an informed investment decision with respect to such purchase.

 

4.             I can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite
period.

 

5.             I acknowledge that I am acquiring the Shares subject to all other terms of the Plan, including the Notice of Incentive Stock Option
and related Incentive Stock Option Agreement.

 

6.             I acknowledge that the Company has encouraged me to consult my own adviser to determine the tax consequences of acquiring the
Shares at this time. I acknowledge that the Company has encouraged me to consult my own adviser to determine the form of ownership
that is appropriate for me. 

 

7.             I acknowledge that the Shares remain subject to the Company’s right of first refusal and the market stand-off (sometimes
referred to as the “lock-up”), all in accordance with the applicable Notice of Incentive Stock Option and related
Incentive Stock Option Agreement.

 

8.             I understand that (i) the Shares have not been registered under the Securities Act and are “restricted securities”
within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of
unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (iii) in
any event, the exemption from registration under Rule 144 will not be available for at least six months or one year (depending
on whether the Company is subject to the reporting obligations of the Securities Exchange Act of 1934, as amended) and even then
will not be available unless applicable terms and conditions of Rule 144 are complied with; and (iv) there is now no registration
statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no
obligation or current intention to register the Shares under the Securities Act.

 

	 	 
	 	(Print Participant Name)
	 	 
	 	(Signature)
	 	 
	 	Date:	 

 

     

     

    

EXHIBIT
B

 

Notice
of Nonstatutory Stock Option

and

Nonstatutory Stock Option Agreement

     

     

    

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

NOTICE
OF NONSTATUTORY STOCK OPTION

2019
STOCK INCENTIVE PLAN

 

Elevation
Oncology, Inc. (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”) grants to the undersigned
(the “Participant”) the following nonstatutory stock option to purchase shares (the “Shares”)
of the common stock of the Company, par value of $0.0001 per share (the “Common Stock”) pursuant to the Company’s
2019 Stock Incentive Plan (the “Plan”):

 

	Participant:

         
	*[Participant
    Name]
	Total
        Number of Shares:

         
	*[Number
    of Shares]
	Grant
        Date:

         
	*[Grant
    Date]
	Exercise
        Price per Share:

         
	$*[Exercise
        Price]

         

	Vesting
        Commencement Date:

         
	*[Vesting
    Date]
	Vesting
        Schedule:

         
	*[Describe
        Vesting Schedule – for example: “25% of the Total Number of Shares shall vest and become exercisable on the
        1 year anniversary of the Vesting Commencement Date and 1/48 of the Total Number of Shares shall vest and become exercisable
        on the corresponding day of each month thereafter, or on the last day of each month, to the extent each month thereafter
        does not have the corresponding day, until all of the Shares have vested on the fourth anniversary of the Vesting Commencement
        Date, subject to Participant continuing to be a Service Provider through each such date.”] 

         

        *[In
        addition, this option may vest and become exercisable on an accelerated basis under Section 2 of the Nonstatutory Stock
        Option Agreement.]

         

	Final
        Exercise Date:

         
	*[Expiration
    Date].  This option may expire earlier pursuant to Section 3 of the Nonstatutory Stock Option Agreement if
    the Participant’s relationship with the Company is terminated, or pursuant to Section 8 of the Plan.

     

     

    

This
nonstatutory stock option is granted under and governed by the terms and conditions of the Plan and the accompanying Nonstatutory
Stock Option Agreement, both of which are incorporated herein by reference. By signing below, the Participant accepts this nonstatutory
stock option, acknowledges receipt of a copy of the Plan and the Nonstatutory Stock Option Agreement, and agrees to the terms
thereof.

 

	[PARTICIPANT NAME]:	 	ELEVATION ONCOLOGY, INC.:
	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	By:	 	 	 
	(Signature)	 	 	 	 	 
	 	 	Name:	 
	 	 	 	 	 	 
	Address:	 	 	Title:	 	 
	 	 	 	 	 	 
	 	 	Date:	 	 

     

     

    

THE
OPTION GRANTED PURSUANT TO THIS AGREEMENT AND THE SHARES ISSUABLE UPON THE EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT
AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR APPLICABLE LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS
COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

NONSTATUTORY
STOCK OPTION AGREEMENT

Granted Under 2019 Stock Incentive Plan

 

	1.	Grant
of Option.

 

This
Nonstatutory Stock Option Agreement (the “Agreement”) evidences the grant by Elevation Oncology, Inc. (f/k/a
14ner Oncology, Inc.), a Delaware corporation (the “Company”), on the Grant Date to the Participant, a[n]
*[employee/officer/director/consultant/advisor] of the Company, of an option (this “Option”)
to purchase, in whole or in part, on the terms provided herein and in the Plan, the Total Number of Shares of Common Stock at
the Exercise Price per Share, all as defined and set forth in the accompanying Notice of Nonstatutory Stock Option (the “Notice”).
Capitalized terms that are not otherwise defined herein or in the Notice shall have the meanings given to such terms in the Plan.

 

It
is intended that this Option shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code of
1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by
the context, the term “Participant,” as used in this Agreement, shall include any person who acquires the right to
exercise this Option validly under its terms.

 

	2.	Vesting
Schedule.

 

This
Option shall vest and become exercisable at the time or times set forth in the accompanying Notice. [In addition, the Option
may vest and become exercisable on an accelerated basis as follows:

 

*[Insert
any applicable acceleration provisions.]

 

*[If,
prior to the Final Exercise Date, the Participant’s status as a Service Provider is terminated by the Company without Cause
(as defined in Section 3(e) below), then, immediately upon the effective date of such termination, this Option shall become exercisable
as to [partial acceleration: that portion of the Total Number of Shares that otherwise would have vested during the *[___]
month period following the effective date of such termination, it being understood that in no event shall the Participant
be entitled to exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.] OR [full
acceleration: 100% of the Total Number of Shares, it being understood that in no event shall the Participant be entitled to
exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.]

 

[Single
Trigger] *[Immediately prior to the effective date of a Change in Control, this Option shall vest and become exercisable as
to [partial acceleration: that portion of the Total Number of Shares that otherwise would have vested during the *[___]
month period following the effective date of such Change in Control, it being understood that in no event shall the Participant
be entitled to exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.] OR [full
acceleration: 100% of the Total Number of Shares, it being understood that in no event shall the Participant be entitled to
exercise the Option to purchase greater than the Total Number of Shares as a result of this provision.]

     

     

    

[Double
Trigger] *[If (a) upon the consummation of a Change in Control this Option is assumed, or a substantially equivalent award
is substituted, by the acquiring or succeeding corporation (in accordance with Section 8(b)(2)(i) of the Plan) and (b) within
*[12] months following such Change in Control the Participant’s status as a Service Provider is terminated by the
acquiring or succeeding corporation without Cause (as defined in Section 3(e) below), then, immediately upon the effective date
of such termination, this Option shall vest and become exercisable as to [partial acceleration: that portion of the Total
Number of Shares that otherwise would have vested during the *[___] month period following the effective date of
such termination, it being understood that in no event shall the Participant be entitled to exercise the Option to purchase greater
than the Total Number of Shares as a result of this provision.] OR [full acceleration: 100% of the Total Number of Shares,
it being understood that in no event shall the Participant be entitled to exercise the Option to purchase greater than the Total
Number of Shares as a result of this provision.]

 

	3.	Exercise
of Option.

 

(a)         Form of Exercise. Each election to exercise this Option shall be in writing in substantially the form of the Notice of
Stock Option Exercise attached to this Agreement as Exhibit A, signed by the Participant, and received by the Company
at its principal office, accompanied by this Agreement, and payment in full in the manner provided in the Plan. The Participant
may purchase less than the number of Shares subject to this Option; provided that, no partial exercise of this Option may
be for any fractional share.

 

(b)         Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this Option may
not be exercised unless the Participant, at the time of the exercise of this Option, is, and has been at all times since the Grant
Date, a Service Provider to or of the Company or any subsidiary of the Company as defined in Section 424(f) of the Code (an “Eligible
Participant”). 

 

(c)         Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then,
except as provided in paragraphs (d) and (e) below, the right to exercise this Option shall terminate three months after
such cessation (but in no event after the Final Exercise Date); provided that, this Option shall be exercisable only to
the extent that the Participant was entitled to exercise this Option on the date of such cessation. Notwithstanding the foregoing,
if the Participant, prior to the Final Exercise Date, violates the non-competition or confidentiality provisions of any employment
agreement, confidentiality and nondisclosure agreement, or other agreement between the Participant and the Company, the right
to exercise this Option shall terminate immediately upon such violation.

 

(d)         Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3)
of the Code) prior to the Final Exercise Date while the Participant is an Eligible Participant and the Company has not terminated
such relationship for “Cause” (as defined below), this Option shall be exercisable, within the period of one year
following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee);
provided that, this Option shall be exercisable only to the extent that this Option was exercisable by the Participant
on the date of the Participant’s death or disability, and further provided that this Option shall not be exercisable after
the Final Exercise Date.

 

(e)         Termination for Cause. If, prior to the Final Exercise Date, the Participant’s status as a Service Provider is terminated
by the Company for Cause (as defined below), the right to exercise this Option shall terminate immediately upon the effective
date of such termination. If the Participant is party to an agreement with the Company that contains an applicable definition
of “cause”, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise,
 “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform the
Participant’s responsibilities to the Company (including, without limitation, breach by the Participant of any provision
of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement between the Participant and
the Company), as determined by the Company, which determination shall be conclusive. The Participant shall be considered to have
been discharged for “Cause” if the Company determines, within 30 days after the Participant’s resignation or
termination other than for Cause, that discharge for Cause was warranted.

     

     

    

	4.	Restrictions
on Transfer; Rights of First Refusal and Stockholder Agreements.

 

(a)          Bylaws. The Participant acknowledges and agrees that the Shares are subject to the provisions of the Company’s Bylaws,
as amended from time to time (the “Bylaws”), including without limitation, all restrictions on transfer and
rights of first refusal described in the Bylaws. The Participant may inspect the Bylaws at the Company’s principal office.

 

(b)          Legend. Any certificate representing Shares shall bear a legend substantially in the following form (in addition to, or
in combination with, any legend required by applicable federal and state securities laws and agreements relating to the transfer
and/or voting of the Company securities):

 

“The
securities represented by this certificate, and the transfer thereof, are subject to the restriction on transfer provisions of
the Bylaws of the Company, a copy of which is on file in, and may be examined at, the principal office of the Company.”

 

(c)           Stockholder
Agreements. The Participant acknowledges and agrees that the Company may condition the issuance of the Shares upon the Participant
joining and becoming a party to such stockholder agreements, which may impose certain contractual rights and obligations on the
Shares, as may be entered into from time to time by and among the Company and certain holders of the Company’s capital stock.

 

	5.	Agreement
in Connection with Public Offering.

 

The
Participant agrees, in connection with the initial underwritten public offering of the Company’s securities pursuant to
a registration statement under the Securities Act of 1933, as amended (the “Securities Act”): (i) not to sell,
make short sale of, loan, grant any options for the purchase of, or otherwise dispose of any shares of Common Stock held by the
Participant (other than those shares included in the offering) without the prior written consent of the Company or the underwriters
managing such initial underwritten public offering of the Company’s securities for a period of 180 days from the effective
date of such registration statement, which period may be extended upon the request of the underwriters for an additional period
of up to 15 days if the Company issues or proposes to issue an earnings or other public release within 15 days of the expiration
of the 180-day lockup period, and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company
or the managing underwriters at the time of such offering.

 

The
Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters
of such offering which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if
requested, by the Company or the underwriters of such offering, the Participant shall provide, within 10 days of such request,
such information as may be required by the Company or such underwriters in connection with the completion of any public offering
of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described
in this Section 5 shall not apply to a registration relating solely to employee benefits plans on Form S-1 or Form S-8 or similar
forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4
or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the
shares of Common Stock (or other securities) subject to the foregoing restriction until the end of the applicable period. Participant
agrees that any transferee of this Option or Shares pursuant to this Agreement shall be bound by this Section 5.

     

     

    

	6.	Tax
Matters.

 

(a)       Withholding.
No Shares shall be issued pursuant to the exercise of this Option unless and until the Participant pays to the Company, or makes
provision satisfactory to the Company for payment of, any federal, state or local withholding or other taxes required by law to
be withheld in respect of this Option.

 

(b)       Code
Section 409A. The Exercise Price is intended to be not less than the Fair Market Value of the Common Stock on the Grant Date.
The Company has determined the Fair Market Value of the Common Stock in good faith and using the reasonable application of a reasonable
valuation method, for purposes of determining the Exercise Price. Notwithstanding this, the Internal Revenue Service may assert
that the Fair Market Value of the Common Stock on the Grant Date was greater than the Exercise Price. Under Code Section 409A,
if the Exercise Price is less than the Fair Market Value of the Common Stock as of the Grant Date, this Option may be treated
as a form of deferred compensation and the Participant may be subject to an additional 20% tax, plus interest and possible penalties.
The Participant acknowledges that the Company has advised the Participant to consult with a tax adviser regarding the potential
impact of Code Section 409A and that the Company, in the exercise of its sole discretion and without the consent of the Participant,
may amend or modify this Agreement in any manner and delay the payment of any amounts payable pursuant to this Agreement to the
minimum extent necessary to meet the requirements of Code Section 409A, as amplified by any Internal Revenue Service or U.S. Treasury
Department regulations or guidance as the Company deems appropriate or advisable.

 

7.            Nontransferability of Option. This Option may not be sold, assigned, transferred, pledged or otherwise encumbered by the
Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the
lifetime of the Participant, this Option shall be exercisable only by the Participant.

 

8.             Provisions of the Plan. This Option is subject to the provisions of the Plan, a copy of which is furnished to the Participant
with this Option.

 

9              Entire
Agreement; Governing Law. The Plan and the Notice are incorporated herein by reference. This Agreement, the Notice and the
Plan constitute the entire agreement between the Company and the Participant with respect to the subject matter hereof and supersede
in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter
hereof. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without reference
to conflict of law provisions.

 

10.          Amendment.
Except as set forth in Section 6(b), this Agreement may not be modified or amended in any manner adverse to the Participant’s
interest except by means of a writing signed by the Company and Participant.

 

     

     

    

11.           No
Guarantee of Continued Service. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF OPTIONS PURSUANT TO THE VESTING
SCHEDULE SET FORTH HEREIN AND IN THE NOTICE ARE EARNED ONLY BY CONTINUING SERVICE AT THE WILL OF THE COMPANY (NOT THROUGH THE
ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES
THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS
OR IMPLIED PROMISE OF CONTINUED SERVICE FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY
WITH PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE PARTICIPANT’S SERVICE WITH OR WITHOUT CAUSE.

 

*
* * * * * * * * * *

     

     

    

Exhibit
A

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

NOTICE
OF NONSTATUTORY STOCK OPTION EXERCISE

2019
STOCK INCENTIVE PLAN

 

The
undersigned (the “Participant”) has previously been awarded a nonstatutory stock option (the “Option”)
to purchase shares (the “Shares”) of the common stock of Elevation Oncology, Inc. (f/k/a 14ner Oncology, Inc.),
a Delaware corporation (the “Company”), pursuant to the Company’s 2019 Stock Incentive Plan (the “Plan”),
and hereby notifies the Company of the Participant’s desire to exercise the Option on the terms set forth herein:

 

	 	PARTICIPANT INFORMATION:	 	 	OPTION INFORMATION:	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Name:	 	 	 	Grant Date:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Address:	 	 	 	Exercise Price Per	 	 	 	 
	 	 	 	 	 	Share:	$____________________	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Taxpayer	 	 	 	Total Shares Covered	 	 	 	 
	 	ID #:	 	 	 	 	by Option:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

  

	EXERCISE
    INFORMATION:
	 
	Number
    of Shares Being Purchased:	______________________
	 	 
	Aggregate
    Exercise Price:	$____________________
	 	 
	 	 
	Form
    of Payment (check all that apply):	☐       Check
        for $_________ made payable to “Elevation Oncology, Inc.”

         

        ☐       Cash
        in the amount of $_________

        

	 	 	 
	Please
    register the Shares

 in my name as follows:	 	 
		(Print
        name as it is to appear on stock certificate)

                                                                                                                                             
	

         

     

     

    

REPRESENTATIONS
AND WARRANTIES OF THE PARTICIPANT:

 

The
Participant hereby represents and warrants to the Company that, as of the date hereof:

 

9.             I am purchasing the Shares for my own account for investment only, and not with a view to, or for sale in connection with, any
distribution of the Shares in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or
regulation under the Securities Act.

 

10.           I have had such opportunity as I have deemed adequate to obtain from representatives of the Company such information as is necessary
to permit me to evaluate the merits and risks of my investment in the Company.

 

11.           I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase
of the Shares and to make an informed investment decision with respect to such purchase.

 

12.           I can afford a complete loss of the value of the Shares and am able to bear the economic risk of holding such Shares for an indefinite
period.

 

13.           I acknowledge that I am acquiring the Shares subject to all other terms of the Plan, including the Notice of Nonstatutory Stock
Option and related Nonstatutory Stock Option Agreement.

 

14.           I acknowledge that the Company has encouraged me to consult my own adviser to determine the tax consequences of acquiring the
Shares at this time. I acknowledge that the Company has encouraged me to consult my own adviser to determine the form of ownership
that is appropriate for me. 

 

15.           I acknowledge that the Shares remain subject to the Company’s right of first refusal and the market stand-off (sometimes
referred to as the “lock-up”), all in accordance with the applicable Notice of Nonstatutory Stock Option and related
Nonstatutory Stock Option Agreement.

 

16.           I understand that (i) the Shares have not been registered under the Securities Act and are “restricted securities”
within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of
unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (iii) in
any event, the exemption from registration under Rule 144 will not be available for at least six months or one year (depending
on whether the Company is subject to the reporting obligations of the Securities Exchange Act of 1934, as amended) and even then
will not be available unless applicable terms and conditions of Rule 144 are complied with; and (iv) there is now no registration
statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no
obligation or current intention to register the Shares under the Securities Act.

 

	 	 
	 	(Print Participant Name)
	 	 
	 	(Signature)
	 	 
	 	Date:	 

     

     

    

EXHIBIT
C

 

Restricted
Stock Purchase Agreement

     

     

    

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

SUMMARY
OF RESTRICTED STOCK PURCHASE 

2019
STOCK INCENTIVE PLAN

 

Elevation
Oncology, Inc. (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”) hereby issues and sells
to the undersigned (the “Participant”), and the Participant hereby purchases from the Company, shares (the
 “Shares”) of the common stock of the Company, par value of $0.0001 per share (the “Common Stock”),
pursuant to the Company’s 2019 Stock Incentive Plan (the “Plan”):

 

	Participant:

         
	*[Participant
    Name]
	Total
        Number of Shares:

         
	*[Number
    of Shares]
	Purchase
        Date:

         
	*[Purchase
    Date]
	Purchase
        Price per Share:

         
	$*[Purchase
    Price]
	Vesting
        Commencement Date:

         
	*[Vesting
    Date]
	Vesting
        Schedule:

         
	*[Describe
Vesting Schedule – for example: “The Company’s Right of Repurchase shall lapse with respect to 25% of the Total
Number of Shares on the 1 year anniversary of the Vesting Commencement Date and with respect to an additional 1/48 of the Total
Number of Shares on the corresponding day of each month thereafter, or on the last day of each month, to the extent each month
thereafter does not have the corresponding day, until all of the Shares have been released on the fourth anniversary of the Vesting
Commencement Date, subject to Participant continuing to be a Service Provider through each such date.”] 

        *[In
        addition, the Right of Repurchase shall lapse on an accelerated basis under Section 2 of the Restricted Stock Purchase
        Agreement.]

         

     

     

    

This
restricted stock purchase is governed by the terms and conditions of the Plan and the Restricted Stock Purchase Agreement, both
of which are incorporated herein by reference. By signing below, the Participant acknowledges receipt of a copy of the Plan and
the Restricted Stock Purchase Agreement, and purchases the Shares on the terms set forth herein and therein.

 

	*[PARTICIPANT NAME]:	 	ELEVATION ONCOLOGY, INC.:
	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	By:	 	 	 
	(Signature)	 	 	 	 	 
	 	 	Name:	 
	 	 	 	 	 	 
	Address:	 	 	Title:	 	 
	 	 	 	 	 	 
	 	 	Date:	 	 

 

     

     

    

SHARES
PURCHASED HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY
NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR APPLICABLE LAWS OR AN
OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

RESTRICTED
STOCK PURCHASE AGREEMENT

2019 STOCK INCENTIVE PLAN

 

1.             Purchase of Shares. The Company hereby issues and sells to the Participant, and the Participant hereby purchases from the
Company, subject to the terms and conditions set forth in this Agreement and in the Plan, the Total Number of Shares at a price
per share equal to the Purchase Price per Share, all as defined and set forth in the accompanying Summary of Restricted Stock
Purchase. The aggregate purchase price for the Shares shall be paid by the Participant by a check payable to the order of the
Company or such other method as may be acceptable to the Company. 

 

2.             Right of Repurchase. The Participant shall vest in, and the Company shall have a right of repurchase with respect to, the
Shares (the “Right of Repurchase”), which such Right of Repurchase shall lapse according to the Vesting Schedule
set forth in the accompanying Summary of Restricted Stock Purchase. [In addition, the Right of Repurchase shall lapse on
an accelerated basis as follows:

 

*[Insert
any applicable acceleration provisions, such as one of the following examples:]

 

*[If
the Participant’s status as a Service Provider is terminated by the Company without Cause (as defined below), then, immediately
upon the effective date of such termination, the Right of Repurchase shall lapse as to [partial acceleration: that portion
of the Total Number of Shares that would have vested during the *[___] month period following the effective date
of such termination.] OR [full acceleration: 100% of the Total Number of Shares.]

 

[Single
Trigger] *[Upon the consummation of a Change in Control the Right of Repurchase shall lapse as to [partial acceleration:
that portion of the Total Number of Shares that would have vested during the *[___] month period following the
effective date of such Change in Control.] OR [full acceleration: 100% of the Total Number of Shares.]

 

[Double
Trigger] *[If within *[12] months following a Change in Control the Participant’s status as a Service Provider
is terminated by the acquiring or succeeding corporation without Cause (as defined below), then, immediately upon the effective
date of such termination, the Right of Repurchase shall lapse as to [partial acceleration: that portion of the Total Number
of Shares that would have vested during the *[___] month period following the effective date of such termination.]
OR [full acceleration: 100% of the Total Number of Shares.]

 

	3.	Exercise
of Right of Repurchase and Closing.

 

(a)               
In the event the Participant ceases to be a Service Provider for any reason (other than Cause, as defined below) or no reason,
including, without limitation, by reason of Participant’s death or disability (as defined in Section 22(e)(3) of the Internal
Revenue Code of 1986, as amended (the “Code”), the Company shall, upon the date of such termination (as reasonably
fixed by the Company), have an irrevocable, exclusive right to purchase some or all of the Shares which have not yet vested and
been released from the Right of Repurchase, at a price per share equal to the lesser of (x) the fair market value of the shares
at the time the Right of Repurchase is exercised, as determined by the Company’s board of directors and (y) the Purchase
Price (the “Repurchase Price”). If, prior to the date on which the Shares are fully vested pursuant to the
Vesting Schedule or any applicable vesting acceleration provision, (i) the Participant violates the non-competition, confidentiality
or other provisions of any employment agreement, confidentiality, inventions and/or nondisclosure agreement, or other agreement
between the Participant and the Company or (ii) the Participant’s status as a Service Provider is terminated by the Company
for Cause (as defined below), the Company’s Right of Repurchase shall apply to the Total Number of Shares, and the Company
shall have an irrevocable, exclusive right to purchase some or all of the Total Number of Shares, at the Repurchase Price. The
number of Shares as to which the Right of Repurchase applies, as set forth in the preceding two sentences, shall be referred to
herein as the “Repurchase Shares.” 

     

     

    

(b)          The Company may exercise the Right of Repurchase as to any or all of the Repurchase Shares at any time following the Participant’s
termination; provided, however, that without requirement of further action on the part of either party hereto, the
Company’s Right of Repurchase shall be deemed to have been automatically exercised as to all Repurchase Shares at 5:00 p.m.
EDT on the date that is 90 days following the date of the Participant’s termination, unless the Company declines in writing
to exercise the Right of Repurchase prior to such time.

 

(c)          If the Company decides not to exercise the Right of Repurchase, it shall so notify the Participant within 90 days of the Participant’s
termination. If the Company decides to exercise its Right of Repurchase, the Company shall deliver payment (if any) to the Participant,
with a copy to the Escrow Agent (as defined in Section 6 hereof), by any of the following methods, in the Company’s
sole discretion: (i) delivering to the Participant or the Participant’s executor a check in the amount of the aggregate
Repurchase Price; (ii) canceling an amount of the Participant’s indebtedness to the Company equal to the aggregate
Repurchase Price; or (iii) any combination of (i) and (ii) such that the combined payment and cancellation of indebtedness
equals such aggregate Repurchase Price. Upon delivery of the payment of the aggregate Repurchase Price in any of the ways described
above, the Company shall become the legal and beneficial owner of the Repurchase Shares being repurchased and all related rights
and interests therein, and the Company shall have the right to retain and transfer to its own name the number of Repurchase Shares
being repurchased by the Company. In the event that Participant’s continuous status as a Service Provider terminates, and
the Company neither notifies the Participant within 90 days thereafter of the Company’s decision not to exercise the Right
of Repurchase, nor delivers payment of the Repurchase Price to the Participant within 90 days thereafter, then the sole remedy
of the Participant thereafter shall be to receive the applicable Repurchase Price determined as set forth above from the Company
in the manner set forth above, and in no case shall the Participant have any claim of ownership as to any of the Repurchase Shares.

 

(d)          The Company in its sole discretion may designate and assign one or more employees, officers, directors or shareholders of the
Company or other persons or organizations to exercise all or a part of the Company’s Right of Repurchase to purchase all
or a part of the Repurchase Shares.

 

(e)          The Company or its assignee must notify the Participant that it does not elect to exercise the Right of Repurchase conferred above
by giving the requisite written notice within 90 days following Participant’s termination as a Service Provider to the Company.
If the Company or its assignee gives such requisite notice, the Repurchase Option shall terminate.

 

(f)           In the event that the Right of Repurchase is exercised, whether automatically in the manner provided for above or pursuant to
written notice, then upon and following such exercise, the only remaining right of the Participant under this Agreement shall
be the right to receive the applicable Repurchase Price, and the Participant have no right whatsoever to receive the Repurchase
Shares. In the event that the Company’s Right of Repurchase is terminated pursuant to clause (e) above, then upon and following
such termination, the only remaining right of the Participant under this Agreement shall be the right to receive the Repurchase
Shares, and the Participant shall have no right whatsoever to receive the Repurchase Price.

     

     

    

 

(g)          For purposes hereof, if the Participant is party to an agreement with the Company that contains an applicable definition of “cause”,
 “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean
willful misconduct by the Participant or willful failure by the Participant to perform the Participant’s responsibilities
to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory,
nondisclosure, non-competition or other similar agreement between the Participant and the Company), as determined by the Company,
which determination shall be conclusive. The Participant shall be considered to have been discharged for Cause if the Company
determines, within 30 days after the Participant’s resignation or termination other than for Cause, that discharge for Cause
was warranted.

 

	4.	Restrictions
on Transfer; Rights of First Refusal and Stockholder Agreements.

 

(a)           The Participant acknowledges and agrees that the Shares are subject to the provisions of the Company’s Bylaws, as amended
from time to time (the “Bylaws”), including without limitation, all restrictions on transfer and rights of
first refusal described in the Bylaws. The Participant may inspect the Bylaws at the Company’s principal office.

 

(b)           Legends. Any certificate representing Shares shall bear legends substantially in the following form (in addition to, or
in combination with, any legend required by applicable federal and state securities laws and agreements relating to the transfer
and/or voting of the Company securities):

 

“The
securities represented by this certificate are subject to restrictions on transfer and an option to purchase set forth in a restricted
stock agreement between the Company and the registered owner of these shares (or such owner’s predecessor in interest),
and such restricted stock agreement is available for inspection without charge at the principal office of the Company.”

 

“The
securities represented by this certificate, and the transfer thereof, are subject to the restriction on transfer provisions of
the Bylaws of the Company, a copy of which is on file in, and may be examined at, the principal office of the Company”

 

(c)           Stockholder
Agreements. The Participant acknowledges and agrees that upon the request of the Company, the Participant shall join and become
a party to such stockholder agreements, which may impose certain contractual rights and obligations on the Shares, as may be entered
into from time to time by and among the Company and the holders of the Company’s capital stock.

 

5.            Agreement in Connection with Public Offering. The Participant agrees, in connection with the initial underwritten public
offering of the Company’s securities pursuant to a registration statement under the Securities Act of 1933, as amended (the
 “Securities Act”): (i) not to sell, make short sale of, loan, grant any options for the purchase of, or otherwise
dispose of any shares of Common Stock held by the Participant (other than those shares included in the offering) without the prior
written consent of the Company or the underwriters managing such initial underwritten public offering of the Company’s securities
for a period of 180 days from the effective date of such registration statement, which period may be extended upon the request
of the underwriters for an additional period of up to 15 days if the Company issues or proposes to issue an earnings or other
public release within 15 days of the expiration of the 180-day lockup period, and (ii) to execute any agreement reflecting clause
(i) above as may be requested by the Company or the managing underwriters at the time of such offering.

     

     

    

The
Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters
of such offering which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if
requested, by the Company or the underwriters of such offering, the Participant shall provide, within 10 days of such request,
such information as may be required by the Company or such underwriters in connection with the completion of any public offering
of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described
in this Section 5 shall not apply to a registration relating solely to employee benefits plans on Form S-1 or Form S-8 or similar
forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4
or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the
shares of Common Stock (or other securities) subject to the foregoing restriction until the end of the applicable period. Participant
agrees that any transferee of the Shares pursuant to this Agreement shall be bound by this Section 5.

 

6.            Escrow. The Participant shall, upon the execution of this Agreement, execute Joint Escrow Instructions in the form attached
to this Agreement as Exhibit A. The Joint Escrow Instructions shall be delivered to the Secretary of the Company,
as escrow agent thereunder (the “Escrow Agent”). The Participant shall deliver to the Escrow Agent a stock
assignment duly endorsed in blank, in the form attached to this Agreement as Exhibit B, and hereby instructs the
Company to deliver to the Escrow Agent, on behalf of the Participant, the certificate(s) evidencing the Shares issued hereunder.
Such materials shall be held by the Escrow Agent pursuant to the terms of the Joint Escrow Instructions.

 

	7.	Provisions
of the Plan.

 

(a)          This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement.

 

(b)          As provided in the Plan, upon the occurrence of a Change in Control, the repurchase and other rights of the Company hereunder
shall inure to the benefit of the Company’s successor and shall apply to the cash, securities or other property which the
Shares were converted into or exchanged for pursuant to such Change in Control in the same manner and to the same extent as they
applied to the Shares under this Agreement. If, in connection with a Change in Control, a portion of the cash, securities and/or
other property received upon the conversion or exchange of the Shares is to be deferred, contingent or placed into escrow to secure
indemnification or for other reasons, the mix between the vested and unvested portion of such cash, securities and/or other property
that is deferred, contingent or placed into escrow shall be the same as the mix between the vested and unvested portion of such
cash, securities and/or other property that is not subject to deferral, contingence or escrow.

 

	8.	Investment
Representations. The Participant represents, warrants and covenants as follows:

 

(a)           The
Participant is purchasing the Shares for the Participant’s own account for investment only, and not with a view to, or for
sale in connection with, any distribution of the Shares in violation of the Securities Act, or any rule or regulation under the
Securities Act.

 

(b)          The
Participant has had such opportunity as the Participant deems adequate to obtain from representatives of the Company such information
as is necessary to permit the Participant to evaluate the merits and risks of the Participant’s investment in the Company.

     

     

    

(c)          The
Participant has sufficient experience in business, financial and investment matters to be able to evaluate the risks involved
in the purchase of the Shares and to make an informed investment decision with respect to such purchase.

 

(d)          The
Participant can afford a complete loss of the value of the Shares and is able to bear the economic risk of holding such Shares
for an indefinite period.

 

(e)          The
Participant acknowledges that the Participant is acquiring the Shares subject to all other terms of the Plan and this Agreement,
including the related Summary of Restricted Stock Purchase

 

(f)          The
Participant acknowledges that the Company has encouraged the Participant to consult the Participant’s own adviser to determine
the tax consequences of acquiring the Shares at this time.

 

(g)          The
Participant acknowledges that the Shares shall be subject to the Company’s Right of Repurchase, right of first refusal and
the market stand-off (sometimes referred to as the “lock-up”), all in accordance with the related Summary of Restricted
Stock Purchase and this Agreement.  

 

(h)       The
Participant understands that (i) the Shares have not been registered under the Securities Act and are “restricted securities”
within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of
unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (iii) in
any event, the exemption from registration under Rule 144 will not be available for at least six months or one year (depending
on whether the Company is subject to the reporting obligations of the Securities Exchange Act of 1934, as amended) and even then
will not be available unless applicable terms and conditions of Rule 144 are complied with; and (iv) there is now no registration
statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no
obligation or current intention to register the Shares under the Securities Act.

 

	9.	Withholding
Taxes; Section 83(b) Election.

 

(a)           The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due to the
Participant any federal, state or local taxes of any kind required by law to be withheld with respect to the purchase of the Shares
by the Participant or the lapse of the Repurchase Option.

 

(b)           The
Participant has reviewed with the Participant’s own tax advisors the federal, state, local and foreign tax consequences
of this investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and
not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant
(and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of this investment
or the transactions contemplated by this Agreement. The Participant understands that as a condition to the issuance of the
Shares, Participant shall be required to file an election under Section 83(b) of the Internal Revenue Code of 1986 with the I.R.S.
within 30 days from the date of this Agreement; if such election is not filed on a timely basis, the Company shall declare this
Agreement, and the offer to issue the Shares, void. In such event, the Company shall return the full amount of the Purchase Price
previously paid to the Participant. The Company shall not issue a stock certificate with respect to the Shares unless and until
the 83(b) election has been timely filed.

     

     

    

THE
PARTICIPANT ACKNOWLEDGES THAT IT IS SOLELY THE PARTICIPANT’S RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE TIMELY
THE ELECTION UNDER SECTION 83(b), EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE
PARTICIPANT’S BEHALF.

 

	10.	Miscellaneous.

 

(a)           No Rights to Continued Service. The Participant acknowledges and agrees that the vesting of the Shares is earned only by
continuing service as a Service Provider at the will of the Company (not through the act of being hired or purchasing shares hereunder).
The Participant further acknowledges and agrees that the transactions contemplated hereunder and the vesting schedule set forth
herein do not constitute an express or implied promise of continued engagement as an employee or consultant for the vesting period,
for any period, or at all.

 

(b)           Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the
extent permitted by law.

 

(c)           Waiver. Any provision for the benefit of the Company contained in this Agreement may be waived, either generally or in
any particular instance, by the Board of Directors of the Company.

 

(d)           Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Company and the Participant and their
respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer
set forth in Section 4 of this Agreement. 

 

(e)           Notice. All notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery
or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the
other party hereto at the address shown beneath his or its respective signature to this Agreement, or at such other address or
addresses as either party shall designate to the other in accordance with this Section 10(e).

 

(f)            Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine,
feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa.

 

(g)           Entire Agreement; Governing Law. The Plan and the Bylaws are incorporated herein by reference. This Agreement, the Plan,
and the Bylaws constitute the entire agreement between the Company and the Participant with respect to the subject matter hereof
and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject
matter hereof, and this Agreement may not be modified adversely to the Participant’s interest except by means of a writing
signed by the Company and Participant. This Agreement shall be governed by and construed in accordance with the laws of Delaware
without reference to conflict of law provisions.

 

(h)           Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the
Participant.

 

(i)            Participant’s Acknowledgments. The Participant acknowledges that the Participant: (i) has read this Agreement; (ii)
has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Participant’s
own choice or has voluntarily declined to seek such counsel; (iii) understands the terms and consequences of this Agreement; (iv)
is fully aware of the legal and binding effect of this Agreement; and (v) understands that the law firm of Hutchison PLLC, is
acting as counsel to the Company in connection with the transactions contemplated by the Agreement, and is not acting as counsel
for the Participant.

 

     

     

    

 

[Remainder
of Page Intentionally Left Blank]

 

     

     

    

 

Exhibit
A

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

Joint
Escrow Instructions

 

Corporate
Secretary

Elevation Oncology, Inc. (f/k/a 14ner Oncology, Inc.) 

 

Dear
Madam or Sir: 

 

As
Escrow Agent for Elevation Oncology, Inc. (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”),
and its successors in interest under the Restricted Stock Purchase Agreement, and related Summary of Restricted Stock Purchase,
each of even date herewith (the “Agreement”), to which a copy of these Joint Escrow Instructions is attached,
and the undersigned person (“Holder”), you are hereby authorized and directed to hold the documents delivered
to you pursuant to the terms of the Agreement in accordance with the following instructions:

 

1.             Appointment. Holder irrevocably authorizes the Company to deposit with you any certificates evidencing the Shares (as defined
in the Agreement) to be held by you hereunder and any additions and substitutions to said Shares. For purposes of these Joint
Escrow Instructions, “Shares” shall be deemed to include any additional or substitute property. Holder does
hereby irrevocably constitute and appoint you as his attorney-in-fact and agent for the term of this escrow to execute with respect
to such Shares all documents necessary or appropriate to make such Shares negotiable and to complete any transaction herein contemplated.
Subject to the provisions of this Section 1 and the terms of the Agreement, Holder shall exercise all rights and privileges
of a stockholder of the Company while the Shares are held by you.

 

	2.	Closing
of Repurchase.

 

(a)           Upon any repurchase by the Company of the Shares pursuant to the Agreement, the Company shall give to Holder and you a written
notice specifying the number of Shares to be repurchased, the purchase price for the Shares, as determined pursuant to the Agreement,
and the time for a closing hereunder (the “Closing”) at the principal office of the Company. Holder and the
Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the
terms of said notice.

 

(b)           At the Closing, you are directed (i) to date the stock assignment form or forms necessary for the transfer of the Shares,
(ii) to fill in on such form or forms the number of Shares being transferred, and (iii) to deliver the same, together
with the certificate or certificates evidencing the Shares to be transferred, to the Company against the simultaneous delivery
to you of the purchase price for the Shares being repurchased pursuant to the Agreement.

 

3.             Withdrawal. The Holder shall have the right to withdraw from this escrow any of the Shares as to which the Right of Repurchase
(as defined in the Agreement) has terminated or expired.

 

4.             Duties of Escrow Agent.

 

(a)           Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto.

     

     

    

(b)          You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be
protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed
or presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder
as Escrow Agent or as attorney-in-fact of Holder while acting in good faith and in the exercise of your own good judgment, and
any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith.

 

(c)          You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person
or entity, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders,
judgments or decrees of any court. If you are uncertain of any actions to be taken or instructions to be followed, you may refuse
to act in the absence of an order, judgment or decrees of a court. In case you obey or comply with any such order, judgment or
decree of any court, you shall not be liable to any of the parties hereto or to any other person or entity, by reason of such
compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated
or found to have been entered without jurisdiction.

 

(d)          You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering
or purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder.

 

(e)          You shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you in connection
with your obligations hereunder and may rely upon the advice of such counsel.

 

(f)           Your rights and responsibilities as Escrow Agent hereunder shall terminate if (i) you cease to be Secretary of the Company
or (ii) you resign by written notice to each party. In the event of a termination under clause (i), your successor as
Secretary shall become Escrow Agent hereunder; in the event of a termination under clause (ii), the Company shall appoint
a successor Escrow Agent hereunder.

 

(g)          If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect
hereto, the necessary parties hereto shall join in furnishing such instruments.

 

(h)          It is understood and agreed that if you believe a dispute has arisen with respect to the delivery and/or ownership or right of
possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability
to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of
the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has
expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings.

 

(i)           These Joint Escrow Instructions set forth your sole duties with respect to any and all matters pertinent hereto and no implied
duties or obligations shall be read into these Joint Escrow Instructions against you.

 

(j)           The Company shall indemnify you and hold you harmless against any and all damages, losses, liabilities, costs, and expenses, including
attorneys’ fees and disbursements, (including without limitation the fees of counsel retained pursuant to Section 4(e) above,
for anything done or omitted to be done by you as Escrow Agent in connection with this Agreement or the performance of your duties
hereunder, except such as shall result from your gross negligence or willful misconduct.

     

     

    

5.             Notice. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon
personal delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid,
addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses as a party may
designate by ten days’ advance written notice to each of the other parties hereto.

 

	COMPANY:	Notices
        to the Company shall be sent to the address set forth in the salutation hereto, Attn: President

         

	HOLDER:	Notices
    to Holder shall be sent to the address set forth below Holder’s signature below.
	ESCROW
    AGENT:	Notices
        to the Escrow Agent shall be sent to the address set forth in the salutation hereto.

         

	6.	Miscellaneous.

 

(a)           By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions,
and you do not become a party to the Agreement.

 

(b)           This instrument shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted
assigns.

 

	 	Very truly yours,
	 	 	 
	ELEVATION ONCOLOGY, INC.:	 	HOLDER:
	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	By:	 	 	 
	 	 	 	 	 	 	 	 	 
	Name:	 	 	 	 	Name:	 	 	 
	 	 	 	 	 	 	 	 	 
	Title:	 	 	 	 	Address:	 	 	 
	 	 	 	 	 	 	 	 	 
	ESCROW AGENT:	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Name:	 	 	 	 	 	 	 	 

     

     

    

Exhibit
B

 

Elevation
Oncology, Inc. 

(f/k/a
14ner Oncology, Inc.)

 

STOCK
ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR
VALUE RECEIVED, I hereby sell, assign and transfer ________________ shares of common stock, par value of $0.0001 per share, of
Elevation Oncology, Inc. (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”) standing in my
name on the books of the Company represented by Certificate(s) Number __________ herewith, to ________________________________
and do hereby irrevocably constitute and appoint Hutchison PLLC to transfer the said stock on the books of the Company with full
power of substitution in the premises.

 

	 	Dated: ____________________
	 	 
	 	HOLDER:
	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	(Print Name)

     

     

    

IF
YOU WISH TO MAKE A SECTION 83(b) ELECTION, THE FILING OF SUCH ELECTION IS YOUR RESPONSIBILITY.

 

the
form for making this section 83(b)
election is attached to this agreement as Exhibit C.

 

YOU
MUST FILE THIS FORM WITHIN 30 DAYS OF PURCHASING THE SHARES.

 

YOU
(and not the Company or any of its agents) shall be solely responsible for filing such form WITH THE IRS, even if YOU
request the company or its agents to make this filing on YOUR behalf and even if the company or its agents have previously made
this filing on YOUR Behalf.

 

The
election should be filed by mailing a signed election form by certified mail, return receipt requested to the IRS Service Center
where you file your tax returns. See www.irs.gov.

     

     

    

 

Exhibit
C

 

IRC
SECTION 83(B) ELECTION

 

The
undersigned taxpayer hereby elects pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in the
undersigned’s gross income for the 201__ taxable year the excess (if any) of the fair market value of the property described
below, over the amount the undersigned paid for such property, and supplies herewith the following information in compliance with
the Treasury regulations promulgated under Section 83(b):

 

	1.	The
undersigned’s name, address and taxpayer identification (social security) number are:

 

	Name:	 
	 	 
	Address:	 
	 	 
	 	 
	 	 
	Social Security Number:	 

 

		2.	The
                                         property with respect to which the election is made consists of *[No. of Shares]
                                         shares of common stock, par value of $0.0001 per share, of Elevation Oncology, Inc.
                                         (f/k/a 14ner Oncology, Inc.), a Delaware corporation (the “Company”).

 

		3.	The
                                         effective date on which the shares were transferred to the undersigned was*[Date],
                                         the date of the imposition on the shares of restrictions constituting a substantial risk
                                         of forfeiture was *[Date], and the taxable year to which this election
                                         relates is the year ending *[Date].

 

		4.	The
                                         Company has a right of first refusal with respect to any proposed transfer of the shares.
                                         If the taxpayer’s employment with the Company is terminated, the taxpayer must
                                         sell any unvested shares back to the Company at a purchase price of $*[       ] per
                                         share.

 

		5.	The
                                         fair market value of the shares at the time of transfer (determined without regard to
                                         any restrictions other than those which by their terms will never lapse) is $*[        ]
                                         per share.

 

		6.	The
                                         amount paid for the shares by the undersigned is $*[       ] per share.

 

		7.	A
                                         copy of this election has been furnished to the Company.

 

	Date:	 	 	By:	 
	 	 	 
	 	 	 
	 	 	Print Name

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