Document:

EX-10.20

 Exhibit 10.20 

RECURSION PHARMACEUTICALS, INC. 

EXECUTIVE INCENTIVE COMPENSATION PLAN 

1. Purposes of the Plan. The Plan is intended to increase stockholder value and the success of the Company by motivating Employees to
(a) perform to the best of their abilities and (b) achieve the Company’s objectives. 
 2. Definitions. 

2.1 “Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance
Period, subject to the authority of the Administrator (as defined in Section 3) under Section 4.4. 
 2.2
“Affiliate” means any corporation or other entity (including, but not limited to, partnerships and joint ventures) that, from time to time and at the time of any determination, directly or indirectly, is in control of or is
controlled by the Company. 
 2.3 “Board” means the Board of Directors of the Company. 

2.4 “Bonus Pool” means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the
Administrator establishes the Bonus Pool for each Performance Period. 
 2.5 “Code” means the U.S. Internal Revenue Code
of 1986, as amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation or formal guidance of general or direct applicability promulgated under such section or
regulation, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

2.6 “Committee” means a committee appointed by the Board (pursuant to Section 3) to administer the Plan. 

2.7 “Company” means Recursion Pharmaceuticals, Inc., a Delaware corporation, or any successor thereto. 

2.8 “Company Group” means the Company and any Parents, Subsidiaries, and Affiliates. 

2.9 “Disability” means a permanent and total disability determined in accordance with uniform and nondiscriminatory standards
adopted by the Administrator from time to time. 
 2.10 “Employee” means any executive, officer, or other employee of the
Company Group, whether such individual is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 

 2.11 “Fiscal Year” means the fiscal year of the Company. 

2.12 “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Code
Section 424(e). 
 2.13 “Participant” means as to any Performance Period, an Employee who has been selected by the
Administrator for participation in the Plan for that Performance Period. 
 2.14 “Performance Period” means the period of
time for the measurement of the performance criteria that must be met to receive an Actual Award, as determined by the Administrator. A Performance Period may be divided into one or more shorter periods if, for example, but not by way of limitation,
the Administrator desires to measure some performance criteria over 12 months and other criteria over 3 months. 
 2.15
“Plan” means this Executive Incentive Compensation Plan (including any appendix attached hereto), as may be amended from time to time. 

2.16 “Section 409A” means Section 409A of the Code and/or any state law equivalent as each may be
amended or promulgated from time to time. 
 2.17 “Subsidiary” means a “subsidiary corporation,” whether now or
hereafter existing, as defined in Code Section 424(f), in relation to the Company. 
 2.18 “Target Award” means the
target award, at 100% of target level performance achievement, payable under the Plan to a Participant for a Performance Period, as determined by the Administrator in accordance with Section 4.2. 

2.19 “Tax Withholdings” means tax, social insurance and social security liability or premium obligations in connection with
the awards under the Plan, including without limitation: (a) all federal, state, and local income, employment and any other taxes (including the Participant’s U.S. Federal Insurance Contributions Act (FICA) obligation) that are required to
be withheld by the Company Group, (b) the Participant’s and, to the extent required by the Company Group, the fringe benefit tax liability of the Company Group associated with an award under the Plan, and (c) any other taxes or social
insurance or social security liabilities or premium the responsibility for which the Participant has, or has agreed to bear, with respect to such award under the Plan. 

2.20 “Termination of Employment” means a cessation of the employee-employer relationship between an Employee and the Company
Group, including without limitation a termination by resignation, discharge, death, Disability, retirement, or the disaffiliation of a Parent, Subsidiary or Affiliate. For purposes of the Plan, transfer of employment of a Participant between any
members of the Company Group (for example, between the Company and a Subsidiary) will not be deemed a Termination of Employment. 

  
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 3. Administration of the Plan. 

3.1 Administrator. The Plan will be administered by the Board or a Committee (the “Administrator”). To the extent
necessary or desirable to satisfy applicable laws, the Committee acting as the Administrator will consist of not less than 2 members of the Board. The members of any Committee will be appointed from time to time by, and serve at the pleasure of, the
Board. The Board may retain the authority to administer the Plan concurrently with a Committee and may revoke the delegation of some or all authority previously delegated. Different Administrators may administer the Plan with respect to different
groups of Employees. Unless and until the Board otherwise determines, the Board’s Compensation Committee will administer the Plan. 

3.2 Administrator Authority. It will be the duty of the Administrator to administer the Plan in accordance with the Plan’s
provisions. The Administrator will have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which Employees will be granted awards,
(b) prescribe the terms and conditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the
Plan by Employees who are non-U.S. nationals or employed outside of the U.S. or to qualify awards for special tax treatment under the laws of jurisdictions other than the U.S., (e) adopt rules for the
administration, interpretation and application of the Plan as are consistent therewith, and (f) interpret, amend or revoke any such rules. Any determinations and decisions made or to be made by the Administrator pursuant to the provisions of
the Plan, unless specified otherwise by the Administrator, will be in the Administrator’s sole discretion. 
 3.3 Decisions
Binding. All determinations and decisions made by the Administrator and/or any delegate of the Administrator pursuant to the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference
permitted by law. 
 3.4 Delegation by Administrator. The Administrator, on such terms and conditions as it may provide, may delegate
all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. Such delegation may be revoked at any time. 

3.5 Indemnification. Each person who is or will have been a member of the Administrator will be indemnified and held harmless by the
Company against and from (a) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in
which he or she may be involved by reason of any action taken or failure to act under the Plan or any award, and (b) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in
satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he or she will give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and
defend it on his or her own behalf. The foregoing right of 

  
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indemnification will not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by contract, as
a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold them harmless. 
 4. Selection of
Participants and Determination of Awards. 
 4.1 Selection of Participants. The Administrator will select the Employees who will
be Participants for any Performance Period. Participation in the Plan will be on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given Performance Period in no way is guaranteed or assured of
being selected for participation in any subsequent Performance Period or Performance Periods. No Employee will have the right to be selected to receive an award under this Plan or, if so selected, to be selected to receive a future award. 

4.2 Determination of Target Awards. The Administrator may establish a Target Award for each Participant (which may be expressed as a
percentage of a Participant’s average annual base salary for the Performance Period or a fixed dollar amount or such other amount or based on such other formula or factors as the Administrator determines). 

4.3 Bonus Pool. Each Performance Period, the Administrator may establish a Bonus Pool, which pool may be established before, during or
after the applicable Performance Period. Actual Awards will be paid from the Bonus Pool (if a Bonus Pool has been established). 
 4.4
Discretion to Modify Awards. Notwithstanding any contrary provision of the Plan, the Administrator, at any time prior to payment of an Actual Award, may: (a) increase, reduce or eliminate a Participant’s Actual Award, and/or
(b) increase, reduce or eliminate the amount allocated to the Bonus Pool. The Actual Award may be below, at or above the Target Award, as determined by the Administrator. The Administrator may determine the amount of any increase, reduction, or
elimination based on such factors as it deems relevant and will not be required to establish any allocation or weighting with respect to the factors it considers. 

4.5 Discretion to Determine Criteria. Notwithstanding any contrary provision of the Plan, the Administrator will determine the
performance goals, if any, applicable to any Target Award (or portion thereof) which may include, without limitation, goals related to: research and development milestones; regulatory milestones or regulatory-related goals; asset development
milestones; development of platform capabilities; technology breakthroughs; gross margin; financial milestones, new product or business development; operating margin, product release timelines or other product release milestones; publications; cash
flow, leadership development; employee engagement; cultural stewardship and growth: project, function or portfolio-specific milestones; license or research collaboration agreements; capital raising; initial public offering preparations;
patentability; and individual objectives such as peer reviews or other subjective or objective criteria. As determined by the Administrator, the performance goals may be based on U.S. generally accepted accounting principles
(“GAAP”) or non-GAAP results and any actual results may be adjusted by the Administrator for one-time items or

  
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unbudgeted or unexpected items and/or payments of Actual Awards under the Plan when determining whether the performance goals have been met. The performance goals may be based on any factors the
Administrator determines relevant, including without limitation on an individual, divisional, portfolio, project, business unit, segment, or Company-wide basis. Any criteria used may be measured on such basis as the Administrator determines,
including without limitation: (i) in absolute terms, (ii) in combination with another performance goal or goals (for example, but not by way of limitation, as a ratio or matrix), (iii) in relative terms (including, but not limited to,
results for other periods, passage of time and/or against another company or companies or an index or indices), (iv) on a per-share basis, (v) against the performance of the Company as a whole or a
segment of the Company and/or (vi) on a pre-tax or after-tax basis. The performance goals may differ from Participant to Participant and from award to award.
Failure to meet the applicable performance goals will result in a failure to earn the Target Award, except as provided in Section 4.4. The Administrator also may determine that a Target Award (or portion thereof) will not have a performance
goal associated with it but instead will be granted (if at all) as determined by the Administrator. 
 5. Payment of Awards. 

5.1 Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company Group. Nothing in this Plan
will be construed to create a trust or to establish or evidence any Participant’s claim of any right other than as an unsecured general creditor with respect to any payment to which the Participant may be entitled. 

5.1 Timing of Payment. Payment of each Actual Award will be made as soon as practicable after the end of the Performance Period to
which the Actual Award relates and after the Actual Award is approved by the Administrator, but in no event after the later of (a) the 15th day of the 3rd month of the Fiscal Year immediately following the Fiscal Year in which the Participant’s Actual Award first becomes no longer subject to a substantial risk of forfeiture, and
(b) March 15 of the calendar year immediately following the calendar year in which the Participant’s Actual Award first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Administrator,
to earn an Actual Award a Participant must be employed by the Company Group on the date the Actual Award is paid, and in all cases subject to the Administrator’s discretion pursuant to Section 4.4. 

5.2 Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Administrator
reserves the right to settle an Actual Award with a grant of an equity award with such terms and conditions, including any vesting requirements, as determined by the Administrator. 

5.3 Payment in the Event of Death or Disability. If a Termination of Employment occurs due to a Participant’s death or Disability
prior to payment of an Actual Award that the Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to the Participant or the Participant’s estate, as the case may be, subject to the
Administrator’s discretion pursuant to Section 4.4. 

  
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 6. General Provisions. 

6.1 Tax Matters. 
 6.1.1
Section 409A. It is the intent that this Plan be exempt from or comply with the requirements of Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Section 409A, and
any ambiguities or ambiguous terms will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulations
Section 1.409A-2(b)(2). In no event will the Company Group have any liability, obligation, or responsibility to reimburse, indemnify or hold harmless any Participant or other Employee for any taxes,
penalties or interest imposed, or other costs incurred, as a result of Section 409A. 
 6.1.2 Tax Withholdings. The Company
Group will have the right and authority to deduct from any Actual Award all applicable Tax Withholdings. Prior to the payment of an Actual Award or such earlier time as any Tax Withholdings are due, the Company Group is permitted to deduct or
withhold, or require a Participant to remit to the Company Group, an amount sufficient to satisfy any Tax Withholdings with respect to such Actual Award. 

6.2 No Effect on Employment or Service. Neither the Plan nor any award under the Plan will confer upon a Participant any right
regarding continuing the Participant’s relationship as an Employee or other service provider to the Company Group, nor will they interfere with or limit in any way the right of the Company Group or the Participant to terminate such relationship
at any time, with or without cause, to the extent permitted by applicable laws. 
 6.3 Forfeiture Events. 

6.3.1 Clawback Policy; Applicable Laws. All awards under the Plan will be subject to reduction, cancellation, forfeiture, or
recoupment in accordance with any clawback policy that the Company Group is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise
required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable laws. In addition, the Administrator may impose such other clawback, recovery or recoupment provisions with respect to an award under the Plan as the
Administrator determines necessary or appropriate, including without limitation a reacquisition right in respect of previously acquired cash, stock, or other property provided with respect to an award. Unless this Section 6.3.1 is specifically
mentioned and waived in a written agreement between a Participant and a member of the Company Group or other document, no recovery of compensation under a clawback policy will give the Participant the right to resign for “good reason” or
“constructive termination” (or similar term) under any agreement with a member of the Company Group. 
 6.3.2 Additional
Forfeiture Terms. The Administrator may specify when providing for an award under the Plan that the Participant’s rights, payments, and benefits with respect to the award will be subject to reduction, cancellation, forfeiture, or recoupment
upon the occurrence of specified events, in addition to any otherwise applicable vesting or 

  
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performance conditions of the award. Such events may include, without limitation, termination of the Participant’s status as an Employee for “cause” or any act by a Participant,
whether before or after the Participant’s status as an Employee terminates, that would constitute “cause.” 
 6.3.3
Accounting Restatements. If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement under the securities laws, then any
Participant who knowingly or through gross negligence engaged in the misconduct, or who knowingly or through gross negligence failed to prevent the misconduct, and any Participant who is one of the individuals subject to automatic forfeiture under
Section 304 of the Sarbanes-Oxley Act of 2002, will reimburse the Company Group the amount of any payment with respect to an award earned or accrued during the 12-month period following the first public
issuance or filing with the U.S. Securities and Exchange Commission (whichever first occurred) of the financial document embodying such financial reporting requirement. 

6.4 Successors. All obligations of the Company under the Plan, with respect to awards under the Plan, will be binding on any successor
to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 

6.5 Nontransferability of Awards. No award under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or
hypothecated, other than by will or by the laws of descent and distribution, and except as provided in Section 5.3. All rights with respect to an award granted to a Participant will be available during his or her lifetime only to the
Participant. 
 7. Amendment, Termination, and Duration. 

7.1 Amendment, Suspension, or Termination. The Administrator may amend or terminate the Plan, or any part thereof, at any time and for
any reason. The amendment, suspension or termination of the Plan will not, without the consent of the Participant, alter or impair any rights or obligations under any Actual Award earned by such Participant. No award may be granted during any period
of suspension or after termination of the Plan. 
 7.2 Duration of Plan. The Plan will commence on the date first adopted by the
Board or the Compensation Committee of the Board, and subject to Section 7.1 (regarding the Administrator’s right to amend or terminate the Plan), will remain in effect thereafter until terminated. 

8. Legal Construction. 

8.1 Gender and Number. Unless otherwise indicated by the context, any feminine term used herein also will include the masculine and any
masculine term used herein also will include the feminine; the plural will include the singular and the singular will include the plural. 

  
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 8.2 Severability. If any provision of the Plan is or becomes or is deemed to be
invalid, illegal, or unenforceable for any reason in any jurisdiction or as to any Participant, such invalidity, illegality, or unenforceability will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the
invalid, illegal, or unenforceable provision had not been included. 
 8.3 Governing Law. The Plan and all awards will be construed
in accordance with and governed by the laws of the State of Utah, but without regard to its conflict of law provisions. 
 8.4 Bonus
Plan. The Plan is intended to be a “bonus program” as defined under U.S. Department of Labor regulations section 2510.3-2(c) and will be construed and administered in accordance with such
intention. 
 8.5 Headings. Headings are provided herein for convenience only and will not serve as a basis for interpretation or
construction of the Plan. 
 9. Compliance with Applicable Laws. Awards under the Plan (including without limitation the granting of
such awards) will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

*    *    * 

  
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 Exhibit 10.21 

RECURSION PHARMACEUTICALS, INC. 

EXECUTIVE CHANGE IN CONTROL AND SEVERANCE PLAN 

AND SUMMARY PLAN DESCRIPTION 

1. Introduction. The purpose of this Recursion Pharmaceuticals, Inc. Executive Change in Control and Severance Plan (the
“Plan”) is to provide assurances of specified benefits to certain employees of the Company whose employment could be being involuntarily terminated other than for death, Disability, or Cause or voluntarily terminated for Good Reason
under the circumstances described in the Plan. This Plan is an “employee welfare benefit plan,” as defined in Section 3(1) of ERISA. This document is both the written instrument under which the Plan is maintained and the required
summary plan description for the Plan. 
 This Plan will be effective as of the effective date of the first registration statement that is
filed by the Company and declared effective pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended, with respect to any class of the Company’s securities. 

2. Important Terms. The following words and phrases, when the initial letter of the term is capitalized, will have the meanings set
forth in this Section 2, unless a different meaning is plainly required by the context: 
 (a) “Administrator” means
the Company, acting through the Compensation Committee or another duly constituted committee of members of the Board, or any person to whom the Administrator has delegated any authority or responsibility with respect to the Plan pursuant to
Section 11, but only to the extent of such delegation. 
 (b) “Base Salary” means the Participant’s annual base
salary as in effect immediately prior to the Executive’s Qualifying Termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base salary, then the Executive’s annual base salary in effect
immediately prior to the reduction) or, if the Executive’s Qualifying Termination is a CIC Qualifying Termination and the amount is greater, at the level in effect immediately prior to the Change in Control. 

(c) “Board” means the Board of Directors of the Company. 

(d) “Cause” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set forth,
means the following: (i) an act of dishonesty made by Participant in connection with Participant’s responsibilities as an employee, (ii) Participant’s conviction of, or plea of nolo contendere to, a felony or any crime
involving fraud, embezzlement or any other act of moral turpitude, (iii) Participant’s gross misconduct, (iv) Participant’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any
other party to whom Participant owes an obligation of nondisclosure as a result of Participant’s relationship with the Company; (v) Participant’s willful breach of any obligations under any written agreement or covenant with the
Company; or (vi) Participant’s continued failure to perform Participant’s employment duties after Participant has received a written demand of performance from the Company with specifically sets forth the factual basis for the
Company’s belief that Participant has not substantially performed Participant’s duties and has failed to cure such non-performance to the Company’s satisfaction within 10 business days after
receiving such notice. 

 (e) “Change in Control” means the occurrence of any of the following
events: 
 (i) Change in Ownership of the Company. A change in the ownership of the Company which occurs on the date that any
one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the
stock of the Company; provided, however, that for purposes of this subsection, (A) the acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will not
be considered a Change in Control, and (B) any acquisition of additional stock by the Founder and/or his Permitted Entities (each as defined in the Company’s certificate of incorporation, as amended from time to time (the
“COI”)) as a result of a Permitted Transfer (as defined in the COI) or from the Company in a transaction or issuance (including pursuant to equity awards) approved by the Board or a committee thereof, that results in such parties
owning more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control. Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the
change in ownership, in substantially the same proportions as their ownership of shares of the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of 50% or more of the total voting power
of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (i). For this purpose, indirect beneficial ownership will include, without limitation, an
interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities.
For the avoidance of doubt, increases in the percentage of total voting power owned by the Founder and/or his Permitted Entities resulting solely from a decrease in the number of shares of stock of the Company outstanding shall not constitute an
acquisition that creates a Change in Control under this subsection (i); or 
 (ii) Change in Effective Control of the Company. A
change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any 12-month period by Directors whose appointment or election is not endorsed
by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the
Company by the same Person will not be considered a Change in Control; or 
 (iii) Change in Ownership of a Substantial Portion of the
Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately
prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer to an
entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the 

  
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Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which
is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the
total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of
the assets being disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this definition,
persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a “change in
control event” within the meaning of Section 409A. 
 Further and for the avoidance of doubt, a transaction will not constitute a
Change in Control if: (x) its primary purpose is to change the jurisdiction of the Company’s incorporation, or (y) its primary purpose is to create a holding company that will be owned in substantially the same proportions by the
persons who held the Company’s securities immediately before such transaction. 
 (f) “Change in Control Period” means
the time period beginning on the date that is 3 months prior to a Change in Control and ending on the date that is 12 months following a Change in Control. 

(g) “CIC Qualifying Termination” means a termination of a Participant’s employment with the Company (or any parent or
subsidiary of the Company) within the Change in Control Period by (i) the Participant for Good Reason, or (ii) the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or
Disability. 
 (h) “Code” means the Internal Revenue Code of 1986, as amended. 

(i) “Company” means Recursion Pharmaceuticals, Inc., a Delaware corporation, and any successor that assumes the obligations of
the Company under the Plan, by way of merger, acquisition, consolidation or other transaction. 
 (j) “Compensation
Committee” means the Compensation Committee of the Board. 
 (k) “Director” means a member of the Board.

 (l) “Disability” means “Disability” as defined in the Company’s long-term disability plan or policy then
in effect with respect to that Participant, as such plan or policy may be in effect from time to time, and, if there is no such plan or policy, a total and permanent disability as defined in Code Section 22(e)(3). 

  
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 (m) “Equity Awards” means a Participant’s outstanding stock options,
stock appreciation rights, restricted stock, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards. 

(n) “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

(o) “Good Reason” has the meaning set forth in the Participant’s Participation Agreement or, if no definition is set
forth, means the following: Participant’s resignation within 30 days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of the following, without Participant’s consent:
(i) the assignment to Participant of any duties, or the reduction of Participant’s duties, either of which results in a material diminution of Participant’s authority, duties, or responsibilities with the Company in effect immediately
prior to such assignment, or the removal of Participant from such position and responsibilities; provided, however, that a reduction in duties, position or responsibilities solely by virtue of the Company being acquired and made part of a larger
entity, whether as a subsidiary, business unit or otherwise (as, for example, when the Chief Executive Officer of the Company remains the Chief Executive Officer of the Company following a change in control where the Company becomes a wholly owned
subsidiary of the acquiror, but is not made the Chief Executive Officer of the acquiring corporation) will not constitute “Good Reason;”; (ii) a material reduction of Participant’s Base Salary (in other words, a reduction of more than
10% of Participant’s Base Salary in any one year); and (iii) a material change in the geographic location at which Participant must perform services (in other words, the relocation of Participant to a facility that is more than 50 miles
from Participant’s current location). Participant will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within 90 days of the
initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than 30 days following the date of such notice. 

(p) “Non-CIC Qualifying Termination” means a termination of a Participant’s
employment with the Company (or any parent or subsidiary of the Company) other than within the Change in Control Period by the Company (or any parent or subsidiary of the Company) for a reason other than Cause, the Participant’s death or
Disability. 
 (q) “Participant” means an employee of the Company or of any subsidiary of the Company who (a) has been
designated by the Administrator to participate in the Plan either by position or by name and (b) has timely and properly executed and delivered a Participation Agreement to the Company. 

(r) “Participation Agreement” means the individual agreement (as will be provided in separate cover as Appendix A)
provided by the Administrator to a Participant under the Plan, which has been signed and accepted by the Participant. 
 (s)
“Plan” means the Recursion Pharmaceuticals, Inc. Executive Change in Control and Severance Plan, as set forth in this document, and as hereafter amended from time to time. 

(t) “Qualifying Termination” means a CIC Qualifying Termination or a Non-CIC
Qualifying Termination, as applicable. 

  
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 (u) “Section 409A Limit” means 200% of the lesser of:
(i) the Participant’s annualized compensation based upon the annual rate of pay paid to the Participant during the Participant’s taxable year preceding the Participant’s taxable year of the Participant’s termination of
employment as determined under, and with such adjustments as are set forth in, Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or
(ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Participant’s employment is terminated. 

(v) “Severance Benefits” means the compensation and other benefits that the Participant will be provided in the circumstances
described in Section 4. 
 3. Eligibility for Severance Benefits. A Participant is eligible for Severance Benefits, as described
in Section 4, only if he or she experiences a Qualifying Termination. 
 4. Qualifying Termination. Upon a Qualifying
Termination, then, subject to the Participant’s compliance with Section 6, the Participant will be eligible to receive the following Severance Benefits as described in Participant’s Participation Agreement, subject to the terms and
conditions of the Plan and the Participant’s Participation Agreement: 
 (a) Cash Severance Benefits. Cash severance equal to the
amount set forth in the Participant’s Participation Agreement and payable in cash at the time(s) specified the Participant’s Participation Agreement. 

(b) Continued Medical Benefits. If the Participant, and any spouse and/or dependents of the Participant (“Family
Members”) has or have coverage on the date of the Participant’s Qualifying Termination under a group health plan sponsored by the Company, the Company will reimburse the Participant the total applicable premium cost for continued group
health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) during the period of time following the Participant’s employment termination, as set forth in the Participant’s
Participation Agreement, provided that the Participant validly elects and is eligible to continue coverage under COBRA for the Participant and his Family Members. However, if the Company determines in its sole discretion that it cannot provide the
COBRA reimbursement benefits without potentially violating applicable laws (including, without limitation, Section 2716 of the Public Health Service Act and the Employee Retirement Income Security Act of 1974, as amended), the Company will in
lieu thereof provide to the Participant a lump sum payment equal to the monthly COBRA premium (on an after-tax basis) that the Participant would be required to pay to continue the group health coverage in
effect on the date of the Participant’s termination of employment (which amount will be based on the premium for the first month of COBRA coverage), multiplied by the number of months in the period of time set forth in the Participant’s
Participation Agreement following the termination, which payments will be made regardless of whether the Participant elects COBRA continuation coverage. Furthermore, for any Participant who, due to non-U.S.
local law considerations, is covered by a health plan that is not subject to COBRA, the Company may (in its discretion) instead provide cash or continued coverage in a manner intended to replicate the benefits of this Section 4(b) and to comply
with applicable local law considerations. 

  
 -5- 

 (c) Equity Award Vesting Acceleration Benefit. Only to the extent specifically
provided in the Participant’s Participation Agreement, a portion of Participant’s Equity Awards will vest and, to the extent applicable, become immediately exercisable. 

5. Limitation on Payments. In the event that the severance and other benefits provided for in this Plan or otherwise payable to a
Participant (i) constitute “parachute payments” within the meaning of Section 280G of the Code (“280G Payments”), and (ii) but for this Section 5, would be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then the 280G Payments will be either: 
 (x) delivered in full, or 

(y) delivered as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax, whichever of the
foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Participant on an after-tax basis, of the
greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. If a reduction in the 280G Payments is necessary so that no portion of such benefits are subject to the Excise
Tax, reduction will occur in the following order: (i) cancellation of equity awards granted “contingent on a change in ownership or control” (within the meaning of Code Section 280G); (ii) a pro rata reduction of (A) cash
payments that are subject to Section 409A as deferred compensation and (B) cash payments not subject to Section 409A; (iii) a pro rata reduction of (A) employee benefits that are subject to Section 409A as deferred
compensation and (B) employee benefits not subject to Section 409A; and (iv) a pro rata cancellation of (A) accelerated vesting of equity awards that are subject to Section 409A as deferred compensation and (B) equity
awards not subject to Section 409A. In the event that acceleration of vesting of equity awards is to be cancelled, such acceleration of vesting will be cancelled in the reverse order of the date of grant of a Participant’s equity awards.

 A nationally recognized professional services firm selected by the Company, the Company’s legal counsel or such other person or entity to which the
parties mutually agree (the “Firm”) will make any determination required under this Section 5. Such determinations will be made in writing by the Firm and any good faith determinations of the Firm will be conclusive and binding
upon Participant and the Company. For purposes of making the calculations required by this Section 5 the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations
concerning the application of Sections 280G and 4999 of the Code. Participant and the Company will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section 5. The
Company will bear all costs the Firm may incur in connection with any calculations contemplated by this Section 5. 
 6. Conditions
to Receipt of Severance. 
 (a) Release Agreement. As a condition to receiving the Severance Benefits, each Participant will be
required to sign and not revoke a separation and release of claims agreement in a form reasonably satisfactory to the Company (the “Release”). In all cases, the Release must become effective and irrevocable no later than the 60th
day following the Participant’s Qualifying Termination (the “Release Deadline Date”). If the Release does not become effective and irrevocable by the Release Deadline Date, the Participant will forfeit any right to the
Severance Benefits. In no event will the Severance Benefits be paid or provided until the Release becomes effective and irrevocable. 

  
 -6- 

 (b) Confidential Information. A Participant’s receipt of Severance Benefits will
be subject to the Participant continuing to comply with the terms of any confidentiality, proprietary information and inventions agreement between the Participant and the Company (a “Confidential Information Agreement”). 

(c) Other Requirements. Severance Benefits under this Plan shall terminate immediately for a Participant if such Participant, at
any time, violates any Confidential Information Agreement and/or the provisions of the Plan (including this Section 6). 
 7. Timing
of Severance Benefits. Unless otherwise provided in a Participant’s Participation Agreement, provided that the Release becomes effective and irrevocable by the Release Deadline Date and subject to Section 9, the Severance Benefits will
be paid, or in the case of installments, will commence, on the first Company payroll date following the Release Deadline Date (such payment date, the “Severance Start Date”), and any Severance Benefits otherwise payable to the
Participant during the period immediately following the Participant’s termination of employment with the Company through the Severance Start Date will be paid in a lump sum to the Participant on the Severance Start Date, with any remaining
payments to be made as provided in this Plan and the Participant’s Participation Agreement. 
 8. Exclusive Benefit. Except as
otherwise specifically provided in Appendix A, the Severance Benefits shall be the exclusive benefit for a Participant related to termination of employment with the Company (or any parent or subsidiary). 

9. Section 409A. 

(a) Notwithstanding anything to the contrary in this Plan, no Severance Benefits to be paid or provided to a Participant, if any, under this
Plan that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Section 409A of the Code, and the final regulations and any guidance promulgated thereunder
(“Section 409A”) (together, the “Deferred Payments”) will be paid or provided until the Participant has a “separation from service” within the meaning of Section 409A. Similarly, no
Severance Benefits payable to a Participant, if any, under this Plan that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until the
Participant has a “separation from service” within the meaning of Section 409A. 
 (b) It is intended that none of the
Severance Benefits will constitute Deferred Payments but rather will be exempt from Section 409A as a payment that would fall within the “short-term deferral period” as described in Section 9(d) below or resulting from an
involuntary separation from service as described in Section 9(e) below. In no event will a Participant have discretion to determine the taxable year of payment of any Deferred Payment. 

  
 -7- 

 (c) Notwithstanding anything to the contrary in this Plan, if a Participant is a
“specified employee” within the meaning of Section 409A at the time of the Participant’s separation from service (other than due to death), then the Deferred Payments, if any, that are payable within the first 6 months following
the Participant’s separation from service, will become payable on the date 6 months and 1 day following the date of the Participant’s separation from service. All subsequent Deferred Payments, if any, will be payable in accordance with the
payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, in the event of the Participant’s death following the Participant’s separation from service, but before the 6 month anniversary of the
separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of the Participant’s death and all other Deferred Payments will be payable
in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Plan is intended to constitute a separate payment under Section 1.409A-2(b)(2) of
the Treasury Regulations. 
 (d) Any amount paid under this Plan that satisfies the requirements of the “short-term deferral” rule
set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of this Section 9. 

(e) Any amount paid under this Plan that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit will not constitute Deferred Payments for purposes of this Section 9. 

(f) The foregoing provisions are intended to comply with or be exempt from the requirements of Section 409A so that none of the Severance
Benefits will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply or be exempt. Notwithstanding anything to the contrary in the Plan, including but not limited to
Sections 11 and 13, the Company reserves the right to amend the Plan as it deems necessary or advisable, in its sole discretion and without the consent of the Participants, to comply with Section 409A or to avoid income recognition under
Section 409A prior to the actual payment of Severance Benefits or imposition of any additional tax. In no event will the Company reimburse a Participant for any taxes or other costs that may be imposed on the Participant as result of
Section 409A. 
 10. Withholdings. The Company will withhold from any Severance Benefits all applicable U.S. federal, state,
local and non-U.S. taxes required to be withheld and any other required payroll deductions. 
 11.
Administration. The Company is the administrator of the Plan (within the meaning of section 3(16)(A) of ERISA). The Plan will be administered and interpreted by the Administrator (in his or her sole discretion). The Administrator is the
“named fiduciary” of the Plan for purposes of ERISA and will be subject to the fiduciary standards of ERISA when acting in such capacity. Any decision made or other action taken by the Administrator with respect to the Plan, and any
interpretation by the Administrator of any term or condition of the Plan, or any related document, will be conclusive and binding on all persons and be given the maximum possible deference allowed by law. In accordance with Section 2(a), the
Administrator (a) may, in its sole discretion and on such terms and conditions as it may provide, delegate in writing to one or more officers of the Company all or any portion of its authority or responsibility with respect to the Plan, and
(b) has the authority to act for the Company (in a non-fiduciary capacity) as to any matter pertaining to the Plan; provided, however, that any Plan amendment or termination or any other action
that reasonably could be expected to increase materially the cost of the Plan must be approved by the Board. 

  
 -8- 

 12. Eligibility to Participate. To the extent that the Administrator has delegated
administrative authority or responsibility to one or more officers of the Company in accordance with Sections 2(a) and 11, each such officer will not be excluded from participating in the Plan if otherwise eligible, but he or she is not
entitled to act upon or make determinations regarding any matters pertaining specifically to his or her own benefit or eligibility under the Plan. The Administrator will act upon and make determinations regarding any matters pertaining specifically
to the benefit or eligibility of each such officer under the Plan. 
 13. Amendment or Termination. The Company, by action of the
Administrator, reserves the right to amend or terminate the Plan at any time, without advance notice to any Participant and without regard to the effect of the amendment or termination on any Participant or on any other individual, subject to the
following; provided, however, that any amendment or termination of the Plan that is materially detrimental to a Participant prior to such amendment or termination of the Plan will not be effective with respect to such Participant without such
Participant’s prior written consent. Any amendment or termination of the Plan will be in writing. Notwithstanding the foregoing, any amendment to the Plan that (a) causes an individual to cease to be a Participant, or (b) reduces or
alters to the detriment of the Participant the Severance Benefits potentially payable to that Participant (including, without limitation, imposing additional conditions or modifying the timing of payment), will not be effective without that
Participant’s written consent. Any action of the Company in amending or terminating the Plan will be taken in a non-fiduciary capacity. 

14. Claims and Appeals. 

(a) Claims Procedure. Any employee or other person who believes he or she is entitled to any Severance Benefits may submit a claim in
writing to the Administrator within 90 days of the earlier of (i) the date the claimant learned the amount of his or her Severance Benefits or (ii) the date the claimant learned that he or she will not be entitled to any Severance
Benefits. If the claim is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based. The notice also will
describe any additional information needed to support the claim and the Plan’s procedures for appealing the denial. The denial notice will be provided within 90 days after the claim is received. If special circumstances require an extension of
time (up to 90 days), written notice of the extension will be given within the initial 90-day period. This notice of extension will indicate the special circumstances requiring the extension of time and the
date by which the Administrator expects to render its decision on the claim. 
 (b) Appeal Procedure. If the claimant’s claim is
denied, the claimant (or his or her authorized representative) may apply in writing to the Administrator for a review of the decision denying the claim. Review must be requested within 60 days following the date the claimant received the written
notice of their claim denial or else the claimant loses the right to review. The claimant (or representative) then has the right to review and obtain copies of all documents and other information relevant to the claim, upon request and at no charge,
and to submit issues and comments in writing. The Administrator will provide written notice of its decision on review within 60 days after it receives 

  
 -9- 

 
a review request. If additional time (up to 60 days) is needed to review the request, the claimant (or representative) will be given written notice of the reason for the delay. This notice of
extension will indicate the special circumstances requiring the extension of time and the date by which the Administrator expects to render its decision. If the claim is denied (in full or in part), the claimant will be provided a written notice
explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based. The notice also will include a statement that the claimant will be provided, upon request and free of charge, reasonable access
to, and copies of, all documents and other information relevant to the claim and a statement regarding the claimant’s right to bring an action under Section 502(a) of ERISA. 

15. Attorneys’ Fees. The parties shall each bear their own expenses, legal fees and other fees incurred in connection
with this Plan. 
 16. Source of Payments. All payments under the Plan will be paid from the general funds of the Company; no separate
fund will be established under the Plan, and the Plan will have no assets. No right of any person to receive any payment under the Plan will be any greater than the right of any other general unsecured creditor of the Company. 

17. Inalienability. In no event may any current or former employee of the Company or any of its subsidiaries or affiliates sell,
transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors nor liable to attachment, execution or other legal process. 

18. No Enlargement of Employment Rights. Neither the establishment or maintenance or amendment of the Plan, nor the making of any
benefit payment hereunder, will be construed to confer upon any individual any right to continue to be an employee of the Company. The Company expressly reserves the right to discharge any of its employees at any time, with or without cause.
However, as described in the Plan, a Participant may be entitled to Severance Benefits depending upon the circumstances of his or her termination of employment. 

19. Successors. Any successor to the Company of all or substantially all of the Company’s business and/or assets (whether direct or
indirect and whether by purchase, merger, consolidation, liquidation or other transaction) will assume the obligations under the Plan and agree expressly to perform the obligations under the Plan in the same manner and to the same extent as the
Company would be required to perform such obligations in the absence of a succession. For all purposes under the Plan, the term “Company” will include any successor to the Company’s business and/or assets which become bound by the
terms of the Plan by operation of law, or otherwise. 
 20. Applicable Law. The provisions of the Plan will be construed, administered
and enforced in accordance with ERISA and, to the extent applicable, the internal substantive laws of the state of Utah (but not its conflict of laws provisions). 

21. Severability. If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will not affect any
other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included. 

  
 -10- 

 22. Headings. Headings in this Plan document are for purposes of reference only and
will not limit or otherwise affect the meaning hereof. 
 23. Indemnification. The Company hereby agrees to indemnify and hold
harmless the officers and employees of the Company, and the members of its Board, from all losses, claims, costs or other liabilities arising from their acts or omissions in connection with the administration, amendment or termination of the Plan,
to the maximum extent permitted by applicable law. This indemnity will cover all such liabilities, including judgments, settlements and costs of defense. The Company will provide this indemnity from its own funds to the extent that insurance does
not cover such liabilities. This indemnity is in addition to and not in lieu of any other indemnity provided to such person by the Company. 

24. Additional Information. 
  

			
	Plan Name:	  	Recursion Pharmaceuticals, Inc. Executive Change in Control and Severance Plan
		
	Plan Sponsor:	  	Recursion Pharmaceuticals, Inc.
		  	41 S Rio Grande Street
		  	Salt Lake City, UT 84101
		  	(385) 269-0203
		
	Identification Numbers:	  	EIN: 46-4099738
		  	PLAN:
		
	Plan Year:	  	Company’s fiscal year
		
	Plan Administrator:	  	Recursion Pharmaceuticals, Inc.
		  	 Attention: Administrator of the Recursion

Pharmaceuticals, Inc. Executive Change in Control and Severance Plan

		  	41 S Rio Grande Street
		  	Salt Lake City, UT 84101
		  	(385) 269-0203
		
	Agent for Service of Legal Process:	  	 Recursion Pharmaceuticals, Inc. 

Attention: General Counsel

		  	41 S Rio Grande Street
		  	Salt Lake City, UT 84101
		  	(385) 269-0203
		
		  	Service of process also may be made upon the Administrator.
		
	Type of Plan	  	Severance Plan/Employee Welfare Benefit Plan
		
	Plan Costs	  	The cost of the Plan is paid by the Company.

  
 -11- 

 25. Statement of ERISA Rights. 

As a Participant under the Plan, you have certain rights and protections under ERISA: 

You may examine (without charge) all Plan documents, including any amendments and copies of all documents filed with the U.S.
Department of Labor. These documents are available for your review in the Company’s human resources department. 
 You
may obtain copies of all Plan documents and other Plan information upon written request to the Administrator. A reasonable charge may be made for such copies. 

In addition to creating rights for Participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan. The
people who operate the Plan (called “fiduciaries”) have a duty to do so prudently and in the interests of you and the other Participants. No one, including the Company or any other person, may fire you or otherwise discriminate against you
in any way to prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA. If your claim for a severance benefit is denied, in whole or in part, you must receive a written explanation of the reason for the denial. You
have the right to have the denial of your claim reviewed. (The claim review procedure is explained in Section 14 above.) 
 Under
ERISA, there are steps you can take to enforce the above rights. For example, if you request materials and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Administrator to provide
the materials and to pay you up to $110 a day until you receive the materials, unless the materials were not sent due to reasons beyond the control of the Administrator. If you have a claim which is denied or ignored, in whole or in part, you may
file suit in a federal court. If it should happen that you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. 

In any case, the court will decide who will pay court costs and legal fees. If you are successful, the court may order the person you have
sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds that your claim is frivolous. 

If you have any questions regarding the Plan, please contact the Administrator. If you have any questions about this statement or about your
rights under ERISA, you may contact the nearest area office of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration), U.S. Department of Labor, listed in your telephone directory, or the Division of
Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington, D.C. 20210. You also may obtain certain publications about your rights and responsibilities under
ERISA by calling the publications hotline of the Employee Benefits Security Administration. 

  
 -12- 

 Appendix A 

Recursion Pharmaceuticals, Inc. Executive Change in Control and Severance Plan 

Participation Agreement 
 Recursion
Pharmaceuticals, Inc. (the “Company”) is pleased to inform you, the undersigned, that you have been selected to participate in the Company’s Executive Change in Control and Severance Plan (the “Plan”) as a
Participant. 
 A copy of the Plan was delivered to you with this Participation Agreement. Your participation in the Plan is subject to all of the terms and
conditions of the Plan. The capitalized terms used but not defined herein will have the meanings ascribed to them in the Plan. 
 The Plan describes in
detail certain circumstances under which you may become eligible for Severance Benefits. As described more fully in the Plan, you may become eligible for certain Severance Benefits if you experience a Qualifying Termination. 

1. Non-CIC Qualifying Termination. Upon your Non-CIC
Qualifying Termination, subject to the terms and conditions of the Plan, you will receive: 
 (a) Cash Severance Benefits. A lump-sum payment equal to 12 months of your Base Salary (less applicable withholding taxes), which will be paid on the Severance Start Date. 

(b) Continued Medical Benefits. Your reimbursement of continued health coverage under COBRA or a taxable lump sum payment in lieu of
reimbursement, as applicable, and as described in Section 4(b) of the Plan will be provided for a period of 12 months following the date of your Qualifying Termination. 

2. CIC Qualifying Termination. Upon your CIC Qualifying Termination, subject to the terms and conditions of the Plan, you will receive:

 (a) Cash Severance Benefits. A lump-sum payment equal to (i) 12 months of your Base Salary
(less applicable withholding taxes), plus (ii) 100% of your target annual bonus as in effect for the fiscal year in which your CIC Qualifying Termination occurs (the “Target Bonus”), plus (iii) a
pro-rata portion of the Target Bonus (based on the number of days you have worked during the fiscal year in which your CIC Qualifying Termination occurs divided by the total number of days in such fiscal
year), which will be paid on the later of (A) the Severance Start Date or (B) on or as soon as administratively practicable following the closing date of the applicable Change in Control. 

(b) Continued Medical Benefits. Your reimbursement of continued health coverage under COBRA or a taxable lump sum payment in lieu of
reimbursement, as applicable, and as described in Section 4(b) of the Plan, will be provided for a period of 12 months following the date of your Qualifying Termination. 

 (c) Equity Award Vesting Acceleration. 100% of your then-outstanding and unvested
Equity Awards will become vested in full and, to the extent applicable, become immediately exercisable (it being understood that forfeiture of any equity awards due to termination of employment will be tolled to the extent necessary to implement
this section (c)). If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then, unless otherwise determined by the applicable agreement
governing the Equity Award, the Equity Award will vest as to 100% of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s). 

3. Non-Duplication of Payment or Benefits. If (a) your Qualifying Termination occurs
prior to a Change in Control that qualifies you for Severance Benefits under Section 1 of this Participation Agreement and (b) a Change in Control occurs within the 3-month period following your
Qualifying Termination that qualifies you for the superior Severance Benefits under Section 2 of this Participation Agreement, then (i) you will cease receiving any further payments or benefits under Section 1 of this Participation
Agreement and (ii) the Cash Severance Benefits, Continued Medical Benefits, and Equity Award Vesting Acceleration, as applicable, otherwise payable under Section 2 of this Participation Agreement each will be offset by the corresponding
payments or benefits you already received under Section 1 of this Participation Agreement in connection your Qualifying Termination (if any). 

4. Exclusive Benefit. In accordance with Section 8 of the Plan, the benefits, if any, provided under this Plan will be the
exclusive benefits for a Participant related to his or her termination of employment with the Company and/or a change in control of the Company and will supersede and replace any severance and/or change in control benefits set forth in any offer
letter, employment or severance agreement and/or other agreement between the Participant and the Company, including any equity award agreement. For the avoidance of doubt, if a Participant was otherwise eligible to participate in any other Company
severance and/or change in control plan (whether or not subject to ERISA), then participation in this Plan will supersede and replace eligibility in such other plan, except as otherwise provided in this paragraph. 

In order to receive any Severance Benefits for which you otherwise become eligible under the Plan, you must sign and deliver to the Company
the Release, which must have become effective and irrevocable within the requisite period, and otherwise comply with the requirements under Section 6 of the Plan. 

By your signature below, you and the Company agree that your participation in the Plan is governed by this Participation Agreement and the
provisions of the Plan. Your signature below confirms that: (1) you have received a copy of the Executive Change in Control and Severance Plan and Summary Plan Description; (2) you have carefully read this Participation Agreement and the
Executive Change in Control and Severance Plan and Summary Plan Description and you acknowledge and agree to its terms in accordance with the terms of the Plan and this Participation Agreement; and (3) decisions and determinations by the
Administrator under the Plan will be final and binding on you and your successors. 
 [Signature page follows] 

  
 -2- 

					
	RECURSION PHARMACEUTICALS, INC.	  	                	  	PARTICIPANT
			
	 /s/ Tina Larson
	  		  	 /s/ Christopher Gibson

	Signature	  		  	Signature
			
	 Tina Larson
	  		  	 Christopher Gibson

	Name	  		  	Name
			
	 Chief Operating Officer
	  		  	 March 22, 2021

	Title	  		  	Date

 Attachment: Recursion Pharmaceuticals, Inc. Executive Change in Control and Severance Plan and Summary Plan Description 

[Signature page to the Participation Agreement] 

  
 -3-

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