Document:

Exhibit 10.1

 

________, 2020

 

LifeSci Acquisition Corp.

250 W. 55th St., #3401

New York, NY 10019

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

 

Re:       Initial
Public Offering

 

Gentlemen:

 

This letter is
being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered
into by and between LifeSci Acquisition Corp., a Delaware corporation (the “Company”) and Chardan Capital
Markets, LLC, as representative (the “Representative”) of the Underwriters named in Schedule A thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of Common Stock of the Company,
par value $0.0001 per share (the “Common Stock”), and one warrant, with each warrant being exercisable
to purchase one share of Common Stock at a price of $11.50 per full share (“Warrant”). Certain capitalized
terms used herein are defined in paragraph 14 hereof.

 

In order to induce the
Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit
that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:

 

1.       It
is acknowledged and agreed that the Company shall not enter into a definitive agreement regarding a proposed Business Combination
without the prior consent of LifeSci Investments, LLC. If the Company solicits approval of its shareholders of a Business Combination,
the undersigned will vote all shares of Common Stock beneficially owned by him, her or it, whether acquired before, in or after
the IPO, in favor of such Business Combination.

 

2.       (a)
In the event that the Company fails to consummate a Business Combination within 24 months from the closing of the
Company’s IPO, the undersigned shall take all reasonable steps to (i) cause the Trust Fund to be liquidated and
distributed to the holders of IPO Shares and (ii) cause the Company to liquidate as promptly as reasonably possible but not
more than five business days after the date we are required to consummate a Business Combination.

 

     

     

    

 

(b) The
undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund
and any remaining net assets of the Company as a result of such liquidation with respect to any shares he, she or it owns,
including his, her or its Insider Shares, IPO Shares and Private Warrants purchased during or after the offering, if any,
(“Claim”) and hereby waives any Claim the undersigned may have in the future as a result of, or
arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for any reason
whatsoever. [The undersigned acknowledges and agrees that there will be no distribution from the Trust Fund with respect to
any Common Stock underlying the Private Warrants, all rights of which will terminate on the Company’s liquidation.]

 

[                                    (c)
In the event of the liquidation of the Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against
any and all loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other
expenses reasonably incurred in investigating, preparing or defending against any litigation, whether pending or threatened,
or any claim whatsoever) which the Company may become subject as a result of any claim by any vendor or other person who is
owed money by the Company for services rendered or products sold or contracted for, but only to the extent necessary to
ensure that such loss, liability, claim, damage or expense does not reduce the amount of funds in the Trust Fund; provided,
that such indemnity shall not apply if such vendor or other person has executed an agreement waiving any claims against the
Trust Fund. ] 1

 

[                                    (d)
In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are
insufficient to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such
liquidation and agrees not to seek repayment for such expenses. ] 2

 

3.       The
undersigned will place into escrow all of his, her or its Insider Shares pursuant to the terms of a Stock Escrow Agreement
which the Company will enter into with the undersigned and an escrow agent acceptable to the Company.

 

[4.      The
undersigned agrees that until the Company consummates a Business Combination, the undersigned’s Private Warrants will be
subject to the transfer restrictions described in the Subscription Agreement relating to the undersigned’s Private Warrants.]
3

 

5.        In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present
to the Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire
a target business, until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company,
subject to any pre-existing fiduciary and contractual obligations the undersigned might have.

 

 

1 Only for
LifeSci Investments, LLC

2 Only for
LifeSci Investments, LLC

3 Only for LifeSci Holdings LLC and Rosedale Park, LLC

 

     

     

    

 

6.       The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated
with, or has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction
must be approved by a majority of the Company’s disinterested independent directors and the Company must obtain an opinion
from an independent investment banking firm that such Business Combination is fair to the Company’s unaffiliated stockholders
from a financial point of view.

 

8.       Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive
or accept a finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned
or any affiliate of the undersigned originates a Business Combination.

 

9.       [The
undersigned agrees to be the [·] of the Company until the earlier of the consummation
by the Company of a Business Combination or the liquidation of the Company. The undersigned’s biographical information previously
furnished to the Company and the Representative is true and accurate in all material respects, does not omit any material information
with respect to the undersigned’s biography and contains all of the information required to be disclosed pursuant to Item
401 of Regulation S-K, promulgated under the Securities Act of 1933.]4
The undersigned’s FINRA Questionnaire and Director and Officer Questionnaire previously furnished to the Company and the
Representative is true and accurate in all material respects. The undersigned represents and warrants that, except as disclosed
in the undersigned’s Director and Officer Questionnaire:

 

		(a)	he/she/it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i)
him/her/it or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii)
any corporation or business association of which he/she/it was an executive officer at or within two years before the time of such
filing;

 

 

4 Only for officers and directors

 

     

     

    

 

		(b)	he/she/it has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property,
or any such partnership;

 

		(c)	he/she/it has never been convicted of fraud in a civil or criminal proceeding;

 

		(d)	he/she/it/ has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding
traffic violations and minor offenses);

 

		(e)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any court of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a
futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an associated person of
any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director
or employee of any investment company, bank, savings and loan association or insurance company, or from engaging in or continuing
any conduct or practice in connection with any such activity; or (ii) engaging in any type of business practice; or (iii) engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal
or state securities or federal commodities laws;

 

		(f)	he/she/it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of
any federal or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any
activity described in 9(e)(i) above, or to be associated with persons engaged in any such activity;

 

		(g)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal
or state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
or vacated;

 

		(h)	he/she/it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal
commodities law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or
vacated;

 

     

     

    

 

		(i)	he/she/it has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree
or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities
or commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary
or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire fraud
or fraud in connection with any business entity;

 

		(j)	he/she/it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated,
or any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
has disciplinary authority over its members or persons associated with a member;

 

		(k)	he/she/it has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security;
(ii) involving the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter,
broker, dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;

 

		(l)	he/she/it was never subject to a final order of a state securities commission (or an agency of officer of a state performing
like functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance
commission (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or
the National Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
or deceptive conduct;

 

		(m)	he/she/it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time
of such sale, restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection
with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out of
the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid solicitor
of purchasers of securities;

 

     

     

    

 

		(n)	he/she/it has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing
a future violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to,
Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the
Advisers Act or any other rule or regulation thereunder; or (ii) Section 5 of the Securities Act;

 

		(o)	he/she/it has never been named as an underwriter in any registration statement or Regulation A offering statement filed with
the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently,
the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;

 

		(p)	he/she/it has never been subject to a United States Postal Service false representation order, or is currently subject to a
temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
a scheme or device for obtaining money or property through the mail by means of false representations;

 

		(q)	he/she/it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like
functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
(or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National
Credit Union Administration that bars the undersigned from: (i) association with an entity regulated by such commission, authority,
agency or officer; (ii) engaging in the business of securities, insurance or banking; or (iii) engaging in savings association
or credit union activities;

 

		(r)	he/she/it is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Securities Exchange Act
of 1934 (the “Exchange Act”) or section 203(e) or 203(f) of the Investment Advisers Act of 1940 (the “Advisers
Act”) that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal securities dealer
or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes civil money penalties
on, such person; or (iii) bars the undersigned from being associated with any entity or from participating in the offering of any
penny stock; and

 

     

     

    

 

		(s)	he/she/it has never been suspended or expelled from membership in, or suspended or barred from association with a member of,
a securities self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated
securities association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of
trade.

 

10.       The
undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as [·] of the Company.

 

11.       The
undersigned hereby waives his, her or its right to exercise conversion rights with respect to any shares of Common Stock owned
or to be owned by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or
in the aftermarket, and agrees that he, she or it will not seek conversion with respect to or otherwise sell, such shares in connection
with any vote to approve a Business Combination with respect thereto, a vote to amend the provisions of the Company’s Amended
and Restated Certificate of Incorporation, or a tender offer by the Company prior to a Business Combination.

 

12.       The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company’s Amended and Restated
Certificate of Incorporation with respect to stockholder’s rights or the Company’s pre-Business Combination
activities (including the substance or timing within which we have to complete a business combination) of a Business
Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then
held in the Trust Fund upon approval of any amendment.

 

13.       In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators.

 

14.       As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities; (ii)
 “Insiders” shall mean all officers, directors and stockholders of the Company immediately prior to the
IPO; (iii) “Insider Shares” shall mean all of the shares of Common Stock of the Company acquired by an
Insider prior to the IPO and the purchase of the Private Warrants; (iv) “IPO Shares” shall mean the
shares of Common Stock issued in the Company’s IPO; (v) “Private Warrants” shall mean the warrants
purchased in the private placement taking place simultaneously with the consummation of the Company’s IPO; (vi) “Registration
Statement” means the registration statement on Form S-1 filed by the Company with respect to the IPO; and (vii)
 “Trust Fund” shall mean the trust fund into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

     

     

    

 

15.       Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

If to the Representative:

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

Attn: Jonas Grossman

Facsimile: (646) 465-9002

 

Copy (which copy shall not constitute
notice) to:

 

Kirkland & Ellis LLP

601 Lexington Avenue

New York, NY 10022

Attn: Christian O. Nagler

Facsimile: (212) 446-4900

 

If to the Company:

 

LifeSci Acquisition Corp.

250 W. 55th St., #3401

New York, NY 10019

Attn: Andrew McDonald

Facsimile:

 

Copy (which copy shall not constitute
notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Mitchell S. Nussbaum, Esq. and
Giovanni Caruso

Facsimile: (212) 504-3013

 

     

     

    

 

16.       No
party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall
not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding on the
parties hereto and any successors and assigns thereof.

 

17.       The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the
Underwriters a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of
the company with respect to the subject matter hereof.

 

[Signature page to follow]

 

     

     

    

 

	 	 
	 	Print Name of Insider
	 	 
	 	 
	 	Signature

 

[Signature page to Insider Letter]Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made
as of _______, 2020 by and between LifeSci Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust
Company (“Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. 333-______ (“Registration Statement”) for its initial public offering of securities
(“IPO”) has been declared effective as of the date hereof (“Effective Date”) by the Securities and Exchange
Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration Statement);
and

 

WHEREAS, Chardan Capital
Markets, LLC (“Chardan”) is acting as the underwriter in the IPO; and

 

WHEREAS, as described
in the Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $50,000,000
of the gross proceeds of the IPO ($57,500,000 if the over-allotment option is exercised in full) will be delivered to the Trustee
to be deposited and held in a trust account for the benefit of the Company and the holders of the Company’s common stock,
par value $.0001 per share (“Common Stock”), issued in the IPO as hereinafter provided (the proceeds to be delivered
to the Trustee will be referred to herein as the “Property”; the shareholders for whose benefit the Trustee shall hold
the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will be
referred to together as the “Beneficiaries”); and

 

WHEREAS, the Company
and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold
the Property.

 

THEREFORE, IT IS AGREED:

 

1.                 
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)              
Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust
account (“Trust Account”) established by the Trustee at JPMorgan Chase Bank, N.A. in the United States, maintained
by Trustee, and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;

 

(b)              
Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)              
In a timely manner, upon the instruction of the Company, invest and reinvest the Property (i) in United States government
treasury bills, notes or bonds having a maturity of 180 days or less and/or (ii) in money market funds meeting certain conditions
under Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as
determined by the Company, it being understood that the Trust Account will earn no interest while the account funds are uninvested
awaiting the Company’s instructions hereunder and the Trustee may earn bank credits and other consideration

 

     

     

    

 

(d)              
Collect and receive, when due, all principal and income arising from the Property, which shall become part of the
 “Property,” as such term is used herein;

 

(e)              
Notify the Company and Chardan of all communications received by it with respect to any Property requiring action
by the Company;

 

(f)               
Supply any necessary information or documents as may be requested by the Company in connection with the Company’s
preparation of its tax returns;

 

(g)              
Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property
if, as and when instructed by the Company to do so;

 

(h)              
Render to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting
all receipts and disbursements of the Trust Account; and

 

(i)                
Commence liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with,
the terms of a letter (“Termination Letter”), in a form substantially similar to that attached hereto as either Exhibit
A or Exhibit B, signed on behalf of the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary
or Assistant Secretary and, in the case of a Termination Letter in a form substantially similar to that attached hereto as Exhibit
A, and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been
received by the Trustee by the 24-month anniversary of the closing of the IPO (“Closing”) (“Last Date”),
the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit
B hereto and distributed to the Public Shareholders as of the Last Date.

 

2.                 
Limited Distributions of Income from Trust Account.

 

(a)              
Upon written request from the Company, which may be given from time to time in a form substantially similar to that
attached hereto as Exhibit C, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account
requested by the Company to cover any income or other tax obligation owed by the Company as a result of such interest income.

 

(b)              
The limited distributions referred to in Section 2(a) above shall be made only from income collected on the Property.
Except as provided in Section 2(a) above, no other distributions from the Trust Account shall be permitted except in accordance
with Section 1(i) hereof.

 

(c)              
The Company shall provide Chardan with a copy of any Termination Letters and/or any other correspondence that it
issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

3.                 
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

     

     

    

 

(a)              
Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief
Executive Officer, President or Chief Financial Officer. In addition, except with respect to its duties under paragraphs 1(i) and
2(a) above, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice or
instruction which it in good faith believes to be given by any one of the persons authorized above to give written instructions,
provided that the Company shall promptly confirm such instructions in writing;

 

(b)              
Subject to the provisions of Sections 5 and 7(g) of this Agreement, hold the Trustee harmless and indemnify the Trustee
from and against, any and all expenses, including reasonable counsel fees and disbursements, or loss suffered by the Trustee in
connection with any claim, potential claim, action, suit or other proceeding brought against the Trustee involving any claim, or
in connection with any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee
hereunder, or the Property or any income earned from investment of the Property, except for expenses and losses resulting from
the Trustee’s gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim
or the commencement of any action, suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this
paragraph, it shall notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”).
The Trustee shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall
obtain the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The
Trustee may not agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not
be unreasonably withheld. The Company may participate in such action with its own counsel;

 

(c)              
Pay the Trustee an initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made
pursuant to Section 2(a) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time
to time. It is expressly understood that the Property shall not be used to pay such fees except for disbursements made to the Company
pursuant to Sections 1(i) solely in connection with the consummation of a Business Combination. The Company shall pay the Trustee
the initial acceptance fee and first year’s fee at the consummation of the IPO and thereafter on the anniversary of the Effective
Date. Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company shall not be responsible for any other fees
or charges of the Trustee.

 

(d)              
In connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the
Trustee an affidavit or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder
votes verifying the vote of the Company’s shareholders regarding such Business Combination; and

 

(e)              
In the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section
1(i), the Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this
Agreement.

 

4.                 
Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

     

     

    

 

(a)              
Take any action with respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee
shall have no liability to any party except for liability arising out of its own gross negligence or willful misconduct;

 

(b)              
Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or
defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from
the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any
expenses incident thereto;

 

(c)              
Change the investment of any Property, other than in compliance with paragraph 1(c);

 

(d)              
Refund any depreciation in principal of any Property;

 

(e)              
Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing
unless provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority
to the Trustee;

 

(f)               
The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to
be taken or omitted, in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct.
The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice
of counsel (including counsel chosen by the Trustee), statement, instrument, report or other paper or document (not only as to
its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information
therein contained) which is believed by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person
or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this
Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by the proper party
or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(g)              
Verify the correctness of the information set forth in the Registration Statement or to confirm or assure that any
acquisition made by the Company or any other action taken by it is as contemplated by the Registration Statement;

 

(h)              
File local, state and/or federal tax returns or information returns with any taxing authority on behalf of the Trust
Account and payee statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating
to the income earned on the Property;

 

(i)               
Pay any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to
pay any such taxes and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released
to it under Section 2(a) hereof);

 

     

     

    

 

(j)                
Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document
other than this agreement and that which is expressly set forth herein; and

 

(k)               
Verify calculations, qualify or otherwise approve Company requests for distributions pursuant to Section 1(i) or
2(a) above.

 

5.                 
Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind
(“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies
in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim against the Company under this
Agreement, including, without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely
against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

6.                 
Termination. This Agreement shall terminate as follows:

 

(a)              
If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall
use its reasonable efforts to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement.
At such time that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor
trustee, including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon
this Agreement shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within
ninety days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited
with any court in the State of New York or with the United States District Court for the Southern District of New York and upon
such deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)              
At such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions
of paragraph 1(i) hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Paragraph 3(b).

 

7.                 
Miscellaneous.

 

(a)              
The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below
with respect to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential
information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it
has reason to believe unauthorized persons may have obtained access to such information, or of any change in its authorized personnel.
In executing funds transfers, the Trustee will rely upon all information supplied to it by the Company, including account names,
account numbers and all other identifying information relating to a beneficiary, beneficiary’s bank or intermediary bank.
The Trustee shall not be liable for any loss, liability or expense resulting from any error in the information or transmission
of the wire.

 

     

     

    

 

(b)              
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
It may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together
shall constitute but one instrument.

 

(c)              
This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject
matter hereof. Except for Section 1(i) (which may only be amended with the approval of the holders of a majority of the outstanding
shares of Common Stock sold in the IPO), this Agreement or any provision hereof may only be changed, amended or modified by a writing
signed by each of the parties hereto; provided, however, that no such change, amendment or modification may be made without the
prior written consent of Chardan. As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party
waives the right to trial by jury. The Trustee may require from Company counsel an opinion as to the propriety of any proposed
amendment.

 

(d)              
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New
York, Borough of Manhattan, for purposes of resolving any disputes hereunder.

 

(e)              
Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall
be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or by facsimile transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

if to the Company, to:

 

LifeSci Acquisition Corp.

250 W. 55th St., #3401

New York, NY 10019

Attn: Andrew McDonald

 

in either case with a copy (which copy shall not constitute
notice) to:

 

Chardan Capital Markets, LLC

17 State Street, 21st Floor

New York, NY 10004

Attn: Jonas Grossman

Facsimile: (646) 465-9002

 

     

     

    

 

and

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Mitchell S. Nussbaum, Esq. and Giovanni Caruso, Esq.

Fax No.: (212) 407-4990

 

(f)              
This Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g)              
Each of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized
to enter into this Agreement and to perform its respective obligations as contemplated hereunder.

 

(h)              
Each of the Company and the Trustee hereby acknowledge that Chardan is a third party beneficiary of this Agreement.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have duly executed this Investment
Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER
    & TRUST COMPANY, as Trustee
	 	 
	 	By:	 
	 	 	Name: 	Francis E. Wolf, Jr.
	 	 	Title:	 Vice President
	 	 
	 	LIFESCI ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name: 	Andrew McDonald
	 	 	Title:	 Chief Executive Officer

 

[Signature Page to Investment Management
Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	Time and method of payment	Amount
	Initial acceptance fee	Initial closing of IPO by wire transfer	 
	Annual fee	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 
	Transaction processing fee for disbursements to Company under Section 2	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 
	Paying Agent services as required pursuant to section 1(i)	Billed to Company upon delivery of service pursuant to section 1(i)	Market Rate

 

     

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:      Trust
Account No. [_____________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between LifeSci Acquisition Corp. (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of ________, 2020 (“Trust Agreement”), this is to advise
you that the Company has entered into an agreement with [__________________] (“Target Business”) to consummate a business
combination with Target Business (“Business Combination”) on or about [insert date]. The Company shall notify
you at least 48 hours in advance of the actual date of the consummation of the Business Combination (“Consummation Date”).
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on [__________] and to transfer
the proceeds to the above-referenced account at [•] to the effect that, on the Consummation Date, all of funds held in the
Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation
Date. It is acknowledged and agreed that while the funds are on deposit in the trust operating account at JPMorgan Chase Bank,
N.A. awaiting distribution, the Company will not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated and
(ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of [__________________], which verifies the vote of the
Company’s shareholders in connection with the Business Combination if a vote is held and (b) joint written instructions from
the Company and Chardan Capital Markets LLC with respect to the transfer of the funds held in the Trust Account (“Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt
of the counsel’s letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event
that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify
the Company of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and distributed
after the Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof,
the Trust Agreement shall be terminated.

 

     

     

    

 

In the event that the
Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on
or before the original Consummation Date of a new Consummation
Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust Account shall be reinvested
as provided in the Trust Agreement on the business day immediately following the Consummation Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	LIFESCI ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	[•], Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	[•], Secretary

 

cc: Chardan Capital Markets, LLC

 

     

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:      Trust
Account No. [______________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph
1(i) of the Investment Management Trust Agreement between LifeSci Acquisition Corp. (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of ________, 2020 (“Trust Agreement”), this is to advise
you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified in
the Company’s Amended and Restated Certificate of Incorporation, as described in the Company’s prospectus relating
to its IPO. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on [______________] and
to transfer the total proceeds to the Trust Checking Account at [•] to await distribution to the Public Shareholders. The
Company has selected [____________, 20__] as the effective date for the purpose of determining when the Public Shareholders will
be entitled to receive their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company
on the liquidation proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record and in your
separate capacity as Paying Agent, to distribute said funds directly to the Public Shareholders in accordance with the terms of
the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company. Upon the distribution of all the
funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	LIFESCI ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	[•], Chief Executive Officer
	 	 
	 	By:	 
	 	 	[•], Secretary

 

cc: Chardan Capital Markets, LLC

 

     

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, N.Y. 10004

Attn: Francis Wolf and Celeste Gonzalez

 

Re:      Trust Account No. [___________] Withdrawal
Instructions

 

Gentlemen:

 

Pursuant to paragraph
2(a) of the Investment Management Trust Agreement between LifeSci Acquisition Corp. (“Company”) and Continental Stock
Transfer & Trust Company (“Trustee”), dated as of ________, 2020 (“Trust Agreement”), the Company hereby
requests that you deliver to the Company [$_______] of the interest income earned on the Property as of the date hereof. The Company
needs such funds to pay for its tax obligations as a result of such interest income. In accordance with the terms of the Trust
Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this
letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	LIFESCI ACQUISITION, CORP.
	 	 
	 	By:	 
	 	 	[•], Chief Executive Officer
	 	 
	 	By:	 
	 	 	[•], Secretary

 

cc: Chardan Capital Markets, LLC

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