Document:

EX-10.2

 Exhibit 10.2 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”), dated as of October 25, 2017, is by and between TriplePoint Venture
Growth BDC Corp., a Maryland corporation (the “Company”) and each of the parties listed on Schedule 1 hereto (each, a “Buyer” and, collectively, the “Buyers”). 

W I T N E S S E T H: 

WHEREAS, the Company, on the terms and subject to the conditions set forth herein, is issuing and selling to each Buyer the number of
shares set forth on Schedule 1 hereto opposite such Buyer’s name (the “Shares”), in each case, of common stock, par value $0.01 per share (the “Common Stock”), of the Company, in each case, at a price of $13.65 per Share
(the “Purchase Price”), for an aggregate purchase price as set forth in Schedule 1 hereto. 
 NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. Issuance, Sale and Purchase of Shares; Closing. 

1.1 Issuance, Sale and Purchase of Shares. Subject to the terms and conditions of this Agreement, the Company shall issue and sell
to each Buyer, and such Buyer shall purchase from the Company, its respective Shares for, and in consideration of delivery by each Buyer of, the Purchase Price for each such Share payable, in each case, on October 25, 2017 (or such other date
mutually agreed upon in writing by the Company and the Buyers) (the “Closing Date”) by wire transfer of immediately available funds to an account designated by the Company in accordance with the wire instructions set forth on Schedule 2
hereto. 
 1.2 Closing. The issuance of the Shares pursuant to this Agreement shall occur simultaneously with the delivery to the
Company of the Purchase Price on the Closing Date (the “Transaction”) in accordance with the wire instructions set forth on Schedule 2 hereto. 

SECTION 2. Representations and Warranties of the Buyers. Each Buyer, on behalf of itself
and not on behalf of any other Buyer, as applicable, represents and warrants to the Company, as of the date hereof and on the Closing Date, as follows: 

2.1 Authority. This Agreement, when executed and delivered by such Buyer and the Company, shall constitute a valid and legally binding
obligation of such Buyer, enforceable against such Buyer in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other laws of general application
affecting enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, or (c) to the extent the indemnification provisions
contained herein may be limited by federal or state securities laws. 
 2.2 Private Placement. 

(a) Such Buyer understands that (i) the Shares have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or under any state securities laws, and are being, or will be, offered and sold in reliance under federal and state exemptions for transactions not involving a public offering, (2) no governmental entity has
reviewed, or will review, or made, or will make, any finding or determination as to the fairness or merits or any recommendation or endorsement with respect to an investment in the Shares, (3) subject to the
Lock-Up Period (as defined herein), the Shares may not be offered, sold or otherwise transferred by such Buyer except pursuant to an effective registration statement under the Securities Act or an applicable
exemption from the registration requirements of the Securities Act, and (4) the following legend restricting the transferability and resale of the Shares will be placed on all documents evidencing the Shares: 

 THIS SECURITY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. THE HOLDER OF THIS SECURITY
AGREES FOR THE BENEFIT OF TRIPLEPOINT VENTURE GROWTH BDC CORP. (THE “CORPORATION”) THAT THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, INCLUDING RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (II) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASE (I) AND (II) IN ACCORDANCE WITH ANY APPLICABLE FEDERAL SECURITIES
LAWS AND THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND SUBJECT TO THE CORPORATION’S RIGHT PRIOR TO ANY SUCH TRANSFER PURSUANT TO CLAUSE (I) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
INFORMATION SATISFACTORY TO IT. IN ADDITION, THE HOLDER WILL NOTIFY ANY SUBSEQUENT PURCHASER OF THIS SECURITY FROM IT OF ANY APPLICABLE RESALE RESTRICTIONS REFERRED TO ABOVE. 

(b) Such Buyer is an “accredited investor” as defined in Rule 501(a)(4), (5) or (6) of Regulation D of the Securities Act.
Such Buyer is not subject to and is not aware of any facts that would cause such Buyer to be subject to any of the “Bad Actor” disqualifications as described in Rule 506(d)(1)(i) to (viii) under the Securities Act. 

(c) The respective Shares purchased by such Buyer are being, or will be, acquired by such Buyer for such Buyer’s own account for
investment purposes only and not with a view for resale or distribution. Such Buyer was offered its respective Shares through private negotiations and not through any general solicitation or general advertising. 

(d) Such Buyer further understands that the exemption from registration afforded by Rule 144 promulgated under the Securities Act (the
provisions of which are known to such Buyer) depends on the satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for resales of the Shares acquired hereunder; provided, however, any resales under
Rule 144 are subject to the Lock-Up Period. 
 (e) Such Buyer (a) either alone or together
with its representatives has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of this investment and make an informed decision to so invest, and has so evaluated the risks and merits
of such investment, (b) has the ability to bear the economic risks of this investment and can afford a complete loss of such investment, (c) understands the terms of and risks associated with the acquisition of its respective Shares,
including, without limitation, a lack of liquidity, pricing availability and risks associated with the industry in which the Company operates, (d) has had the opportunity to review the Company’s Annual Report on Form 10-K for the Company for the fiscal year ended December 31, 2016, the Quarterly Report on Form 10-Q for the Company for the quarter ended March 31, 2017, the
Quarterly Report on Form 10-Q for the Company for the quarter ended June 30, 2017 and such other disclosure regarding the Company, its business, its financial condition and its prospects as such Buyer has
determined to be necessary in connection with the purchase of its respective Shares, (e) has had an opportunity to ask such questions and make such inquiries concerning the Company, its business, its financial condition and its prospects as
such Buyer has deemed appropriate in connection with such purchase and to receive satisfactory answers to such questions and inquiries and (f) acknowledges that (i) the Purchase Price is based on an estimate (within a range) of the net
asset value per share of the Common Stock at September 30, 2017 (the “Estimated NAV Per Share”), plus an estimate of the net investment income and known net realized and unrealized gains, in each case, on a per share basis (the
“Estimated NII and Gains Per Share”), generated by the Company for the period from September 30, 2017 through October 23, 2017; (iii) the Company’s Board of Directors has not yet determined the fair value of the
Company’s investments at September 30, 2017 and, as a result, the Estimated NAV Per Share used in connection with arriving at the Purchase Price may differ from the net asset value per share of the Common Stock at September 30, 2017
ultimately reported by the Company after the Board of Directors makes such determinations or as a result of other changes in connection with finalizing the Company’s financial statements for the quarter ended September 30, 2017; (iv) there
are risks inherent in the use of estimates, including the Estimated NAV Per Share and the Estimated NII and Gains Per Share, in arriving at the Purchase Price, including that they may be materially different from the finally determined figures
thereof, if any; (v) the Estimated NAV Per Share, the 

  
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Estimated NII and Gain Per Share and an estimate (within a range) of the Company’s net investment income per share of Common Stock for the three months ended September 30, 2017 have
been communicated in writing by the Company to each of the Buyers; and (vi) there will not be any subsequent adjustment to the Purchase Price in the event that any of the aforementioned estimates used in arriving at the Purchase Price differ
from the finally determined figures thereof, if any. 
 2.3 No Conflicts; Advice. Neither the execution and delivery of this
Agreement, nor the consummation of the transactions contemplated hereby, does, or will, (a) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other restriction of any government,
governmental agency, or court to which such Buyer is subject, or (b) conflict with, violate or constitute a default under any agreement, credit facility, debt or other instrument or understanding to which such Buyer is a party, except to the
extent that such conflict, violation or default would not impair or delay the Buyer’s ability to consummate, or prohibit the Buyer from consummating, the transactions described in this Agreement. Such Buyer has consulted such legal, tax and
investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of its respective Shares. 

2.4 No Consent. No authorization, approval or other action by, and no notice to or filing with, any governmental, regulatory or legal
authority or any other person is required for the due execution, delivery and performance by such Buyer of this Agreement or the consummation of the transactions contemplated hereby (other than (x) such as has been obtained, given, effected or
taken prior to the date hereof, (y) consents, authorizations, approvals or filings required to be obtained or made by, or notices given to, any regulatory authority having jurisdiction over the Company, as to which such Buyer makes no
representations or warranties and (z) routine filings that are informational in nature and made in the ordinary course of business). 

SECTION 3. Representations and Warranties of the Company. The Company represents and
warrants to each Buyer, as applicable, as of the date hereof and on the Closing Date, as follows: 
 3.1 Authorization of Agreement.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Maryland with full corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and
otherwise to carry out its obligations hereunder, and the execution, delivery and performance by the Company of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or similar action on the part of the
Company. The Company meets all the requirements of Section 851 of the Internal Revenue Code of 1986, as amended (the “Code”), has filed Form 1120-RIC (U.S. Income Tax Return for Regulated
Investment Companies) for each of its tax years beginning with the tax year ended on December 31, 2014 through and including the tax year ended on December 31, 2016, and qualifies as a “regulated investment company”
(“RIC”) under Subchapter M of the Code, and has been qualified as a RIC at all times since its formation. This Agreement, when executed and delivered by the Company and each Buyer, shall constitute a valid and legally binding obligation of
the Company, enforceable against the Company in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application affecting
enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, or (c) to the extent the indemnification provisions contained
herein may be limited by federal or state securities laws. 
 3.2 Authorization of the Shares. The Shares to be sold by the
Company pursuant to this Agreement have been duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company against payment of the Purchase Price will be validly issued, fully paid and non-assessable; and the issuance and sale of the Shares to be sold by the Company pursuant to this Agreement are not subject to any preemptive rights, rights of first refusal or other similar rights of any security
holder of the Company or any other person. 
 3.3 No Conflicts. Neither the execution and delivery of this Agreement, nor the
consummation of the transactions contemplated hereby, does, or will, violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other restriction of any government, governmental agency, or court to
which the Company is subject or any provision of its organizational documents or other similar governing instruments, or conflict with, violate or constitute a default under any agreement, credit facility, debt or other instrument or understanding
to which the Company is a party. 

  
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 3.4 No Consent. No authorization, approval or other action by, and no notice to or filing
with, any governmental, regulatory or legal authority or any other person is required for the due execution, delivery and performance by the Company of this Agreement or the consummation of the transactions contemplated hereby (other than
(x) such as has been obtained, given, effected or taken prior to the date hereof, (y) consents, authorizations, approvals or filings required to be obtained or made by, or notices given to, any regulatory authority having jurisdiction over
each Buyer, as to which the Company makes no representations or warranties and (z) routine filings that are informational in nature and made in the ordinary course of business). 

3.5 Compliance with RIC Requirements. The Company intends to direct the investment of the net proceeds of the Transaction and to
continue to conduct its activities in such a manner as to continue to comply with the requirements for qualification and taxation as RIC under Subchapter M of Code. The Company has elected to be treated, and intends to qualify annually, as a RIC
under Subchapter M of the Code commencing with its taxable year ended December 31, 2014. 
 3.6 1940 Act Notification. The
Company has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”), and has filed with the Securities and Exchange Commission (the “SEC”), pursuant to Section 54(a) of the 1940
Act, a duly completed and executed Form N-54A (the “1940 Act Notification”); the Company has not filed with the SEC any notice of withdrawal of the 1940 Act Notification pursuant to
Section 54(c) of the 1940 Act; the 1940 Act Notification remains in full force and effect, and, to the Company’s knowledge, no order of suspension or revocation of such election under the 1940 Act has been issued or proceedings therefore
initiated or threatened by the SEC. The operations of the Company are in compliance in all material respects with the applicable provisions of the 1940 Act and the 1940 Act Regulations. 

3.7 Financial Statements. The financial statements of the Company included in its most recent quarterly report on Form 10-Q that was filed with the SEC (the “Form 10-Q”), together with the related schedules and notes, present fairly the financial position of the Company at the dates
indicated and the results of operations, changes in net assets and cash flows of the Company and for the periods specified; and any such financial statements comply as to form with the applicable accounting requirements of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”),and have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis throughout the periods involved (except as otherwise noted
therein); and the other financial information and data included in the Form 10-Q are accurately derived from such financial statements and the books and records of the Company, as applicable. All “non-GAAP financial measures” (as such term is defined in the rules and regulations of the SEC), if any, contained in the Form 10-Q comply with Item 10(e) of
Regulation S-K of the SEC. 
 SECTION 4. Covenants. 

4.1 Lock-Up. Notwithstanding anything to the contrary in this Agreement, each Buyer shall
not, directly or indirectly, (i) sell, exchange, transfer, assign, pledge, hypothecate, grant any option to purchase or otherwise dispose of or agree to dispose of all or any portion of the Shares acquired by such Buyer in the Transaction (any
other shares of the Common Stock that such Buyer previously acquired or may acquire in the future other than pursuant to this Agreement are not restricted by the provisions of this Section 4.1); (ii) establish or increase a put equivalent
position or liquidate or decrease a call equivalent position with respect to any Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, or warrants or other rights to purchase Common Stock or
(iii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, or
warrants or other rights to purchase Common Stock, whether any such transaction is to be settled by delivery of Common Stock or such other securities, in cash or otherwise, in each case, for a period of eighteen (18) months from the Closing
Date (the “Lock-Up Period”), without the prior written consent of the Company’s Board of Directors; provided, however, that the Lock-Up
Period shall expire immediately if (i) TPVG Advisers LLC, or another affiliate of TriplePoint Capital LLC, is no longer serving as the Company’s investment adviser, (ii) either James P. Labe or Sajal K. Srivastava are no longer
actively involved in the management of the Company or TriplePoint Capital LLC, or (iii) the Company’s Board of Directors determines that such Buyer would suffer financial hardship if such Buyer is unable to dispose of the Shares during the
Lock-Up Period. Each Buyer acknowledges that its respective Shares shall bear the following restrictive legend: 

  
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 THE SHARES REPRESENTED HEREBY MAY NOT BE SOLD, EXCHANGED, TRANSFERRED ASSIGNED, PLEDGED,
HYPOTHECATED OR IN ANY MANNER DISPOSED OF, EXCEPT IN COMPLIANCE WITH THE TERMS OF A LOCK-UP AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE SHARES).
THE SECRETARY OF THE COMPANY WILL, UPON WRITTEN REQUEST, FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE. 
 4.2
Regulated Investment Company Status. The Company shall use best efforts to maintain its qualification as a RIC under Subchapter M of the Code for so long as the Company remains a BDC regulated under the 1940 Act. 

4.3 Removal of Legends. If, after the expiration of the Lock-Up Period, each Buyer is not
and has not been within the prior 90 days an affiliate of the Company within the meaning of the Securities Act and all applicable conditions of Rule 144 under the Securities Act have been met, the Company will arrange (at its expense) for the
delivery of an opinion of counsel, in form and substance that is satisfactory to the transfer agent of the Common Stock, to assist in the removal of the restrictive legend from such Buyer’s respective portion of the Shares subject to delivery
by such Buyer of a customary back-up certificate regarding compliance with Rule 144 under the Securities Act. 

4.4 Prohibition on Insider Trading and Compliance With Regulation FD. Each Buyer acknowledges such Buyer has received material
nonpublic information about the Company in connection with the Transaction. Each Buyer agrees that it shall not (a) purchase or sell, directly or indirectly, any securities of the Company (other than the purchase of the Shares in the
Transaction as contemplated by this Agreement) while in possession of relevant material, nonpublic information relating to the Company or (b) communicate any material nonpublic information to any other person. Each Buyer also acknowledges that
the provisions of Regulation FD under the Exchange Act requires the public announcement of previously disclosed non-public information if that information is disclosed to anyone who has not agreed to maintain
the confidentiality of such information. Each Buyer agrees not to knowingly take any action that would require the Company to publicly disclose any information about or relating to the non-public
information, and to take reasonable steps to ensure that none of its representatives take any such action. 
 4.5 Current Public
Information. The Company shall file all reports required to be filed by it under the Exchange Act and shall take such further action as any Buyer may reasonably request, all to the extent required to enable such Buyer to sell Registrable
Securities (as defined below) or Shelf Registrable Securities (as defined below) pursuant to Rule 144. Upon request, the Company shall deliver to any Buyer a written statement as to whether it has complied with such requirements. 

4.6 BDC Status. During the Lock-Up Period, the Company shall use its best efforts to maintain
its status as a BDC. 
 SECTION 5. Closing Conditions. 

The Transaction is also subject to the conditions that on the Closing Date: 

 

	 	(a)	no suspension of the qualification of the Common Stock for offering or sale or trading by the SEC, or initiation or threatening of any proceedings for any of such purposes, shall have occurred; 

 

	 	(b)	all representations and warranties of the Company and each Buyer in this Agreement shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality,
which representations and warranties shall be true in all respects) at and as of the Closing Date, and consummation of the Transaction shall constitute a reaffirmation by each of the Company and each Buyer of each of the representations, warranties
and agreements of each such party contained in this Agreement as of the Closing Date; 

  
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	 	(c)	no applicable governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and
has the effect of making consummation of the Transaction contemplated hereby illegal or otherwise restraining or prohibiting consummation of the Transaction contemplated hereby, and no governmental authority shall have instituted or threatened in
writing a proceeding seeking to impose any such restraint or prohibition; 

  

	 	(d)	the Company’s 1940 Act Notification, as the same may be amended from time to time, remains in full force and effect. 

SECTION 6. Registration Rights. 

6.1 Piggy-Back Registration Notice. 

(a) If the Company proposes to file any registration statement under the Securities Act (a “Registration Statement”) with respect to
any offering of Common Stock by the Company for its own account or for shareholders of the Company for their respective account (or by the Company and by shareholders of the Company), other than a Registration Statement (i) filed in connection
with any employee stock option or other benefit plan, (ii) for a dividend reinvestment and stock purchase plan or (iii) in connection with a merger or acquisition, then the Company shall (x) give written notice of such proposed filing
to each Buyer no less than ten (10) days before the anticipated filing date of the Registration Statement, which notice shall describe the amount and type of securities to be included in such Registration Statement and the proposed filing date
of the Registration Statement, and (y) offer to each Buyer in such notice the opportunity to register up to the number of Shares held by such Buyer (together with any other issued and outstanding shares of Common Stock held by other holders,
collectively, the “Registrable Securities”) and such Buyer shall respond to such notice in writing no later than seven (7) days prior to the proposed filing date of the Registration Statement as specified in the notice (a
“Piggy-Back Registration Notice”). The Company may request each Buyer who submits a Piggy-Back Registration Notice to furnish the Company with information as shall be reasonably requested by the Company to effect the registration of the
Registrable Securities, and shall execute such documents in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations. The Company shall prepare and file with the SEC
such amendments and supplements to the Registration Statement and the base prospectus used in connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities
subject thereto in connection with any Piggyback Offering (as defined below). 
 (b) Subject to Section 6.1(d) hereof, if at any time on
or after the expiration of the Lock-Up Period, the Company proposes to offer and sell shares of Common Stock in an underwritten offering (the “Piggyback Offering”), the Company shall provide written
notice (no less than ten (10) days prior to the launch of the Piggyback Offering) (“Offering Notice”) to each Buyer who has elected to have its respective Shares included in the Piggy-Back Registration Notice (“Piggyback Electing
Buyer”). Each Piggyback Electing Buyer may participate in the Piggyback Offering and have their respective portion of up to one-third (1/3) of the Registrable Securities (“Offering Cap”) then
held by the Buyers in the aggregate (“Offered Securities”) included in the Piggyback Offering; provided, however, such Piggyback Electing Buyer shall be required to give the Company written notice of its election to
participate in the Piggyback Offering no more than seven (7) days prior to the expected launch date of the Piggyback Offering as specified in the Offering Notice. The Company shall cause the managing underwriter or underwriters of the Piggyback
Offering to offer and sell the Offered Securities on the same terms and conditions as any shares of Common Stock issued by the Company and to permit the sale or other disposition of such Offered Securities in accordance with the intended method(s)
of distribution thereof; provided, however, if the Company in consultation with the underwriters reduces the aggregate number of shares of Common Stock to be offered in the Piggyback Offering, such reduction shall reduce the number of
Offered Securities, on a pro-rata basis, of each Piggyback Electing Buyer. All holders of Offered Securities proposing to distribute their securities through the Piggyback Offering shall directly or indirectly
enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such Piggyback Offering. Once the Offering Cap has been reached, each Piggyback Electing Buyer may request the Company’s consent to
increase the amount of Offered Securities that 

  
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may be sold in a Piggyback Offering pursuant to the terms of this Section 6.1. Each Buyer agrees that (1) the Offering Notice constitutes material
non-public information (“MNPI”) under the federal securities laws and that it will not engage in any transaction in any securities of the Company until such notice and the information contained
therein ceases to constitute MNPI and (2) such Buyer shall treat as confidential the receipt of the Offering Notice and shall not disclose or use the information contained in such Offering Notice without the prior written consent of the Company
until such time as the information contained therein is or becomes available to the public generally. 
 (c) Notwithstanding anything to the
contrary in this Section 6, no Piggyback Electing Buyer shall have the right to participate in any offerings of Common Stock which are issued by the Company in an
at-the-market offering (“ATM”) in accordance with Rule 415(a)(4) under the Securities Act and the Company shall have no obligation to comply with the
requirements of Section 6.1 for any issuances of Common Stock under the ATM. 
 (d) Each Piggyback Electing Buyer’s participation
in any Piggyback Offering contemplated by Section 6.1 of this Agreement may be expressly conditioned upon and subject to the final offering price per share in the Piggyback Offering being not less than a minimum price per share determined by
the Piggyback Electing Buyer and set forth in its Piggy-Back Registration Notice (the “Minimum Price Condition”). If the Minimum Price Condition is not satisfied, the Piggyback Electing Buyer shall be deemed to not have consented to the
Piggyback Offering of its Offered Securities in the Piggyback Offering. 
 (e) For the avoidance of doubt, if the Company elects to register
the resale of the Shares on the Shelf Registration Statement (as defined herein) under the Securities Act in furtherance of its obligations under Section 6.1, then the Piggyback Electing Buyers may only resell such shares in connection with an
offering initiated by the Company. 
 6.2 Shelf Registration. 

(a) On or before the expiration or termination of the Lock-Up Period, the Company shall file with the
SEC a shelf registration statement under the Securities Act (the “Shelf Registration Statement”) in order to register the resale of the Shares then held by the Buyers thereunder. In the event the
Lock-Up Period is terminated in accordance with the terms of this Agreement, the Company shall promptly file a Shelf Registration Statement with the SEC in order to effectuate the foregoing registration. The
Company shall use its reasonable efforts to cause the Shelf Registration Statement to be declared effective under the Securities Act as soon as practicable after the initial filing of such Shelf Registration Statement, and once effective, the
Company shall cause such Shelf Registration Statement to remain continuously effective for a period ending on the date on which all of the Registrable Securities subject thereto have been sold pursuant to the Shelf Registration Statement, Rule 144
under the Securities Act or otherwise. The Shelf Registration Statement shall name each of the Buyers as a selling securityholder and register all of their Shares. In order for each Buyer to be named as a selling securityholder in such Shelf
Registration Statement, the Company may require such Buyer to furnish the Company with information as shall be reasonably requested by the Company to effect the registration of the Shelf Registrable Securities (as defined below), and shall execute
such documents in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations. 

(b) In the event that the Shelf Registration Statement is effective, the Buyers shall have the right at any time or from time to time to elect
to sell pursuant to an offering (including an underwritten offering (an “Underwritten Takedown”)) Registrable Securities available for sale pursuant to such registration statement (together with any other issued and outstanding shares of
Common Stock held by other holders, collectively, the “Shelf Registrable Securities”), so long as the Shelf Registration Statement remains in effect, and the Company shall pay all expenses in accordance with Section 6.3 of this
Agreement;. The applicable Buyers shall make such election by delivering to the Company a written request (a “Shelf Offering Request”) for such offering specifying the number of Shelf Registrable Securities that such Buyers desire to sell
(the “Shelf Offered Securities”) pursuant to such offering (the “Shelf Offering”). As promptly as practicable, but no later than two (2) business days after receipt of a Shelf Offering Request, the Company shall give written
notice (the “Shelf Offering Notice”) of such Shelf Offering Request to all other holders of Shelf Registrable Securities. The Company shall, as expeditiously as possible, use its reasonable efforts to facilitate such Shelf Offering. 

  
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 (c) Notwithstanding the foregoing, if a Buyer wishes to engage in an underwritten block trade off
of a Shelf Registration Statement, then notwithstanding the foregoing time periods, such Buyer only need to notify the Company of the block trade Shelf Offering two (2) business days prior to the day such offering is to commence and the Company
shall promptly notify other holders and such other holders must elect whether or not to participate by the next business day (i.e., one business day prior to the day such offering is to commence) and the Company shall as expeditiously as possible
use its reasonable efforts to facilitate such offering (which may close as early as two (2) business days after the date it commences); provided that holders representing a majority of the Shelf Registrable Securities wishing to engage in the
underwritten block trade shall use commercially reasonable efforts to work with the Company and the underwriters prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering
documentation related to the underwritten block trade. 
 (d) The Company shall, at the request of the Buyers covered by the Shelf
Registration Statement, file any prospectus supplement and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by such Buyer to effect such Shelf Offering. 

(e) Priority on Shelf Offerings. If the Shelf Offering is an underwritten offering and the managing underwriters advise the Company
in writing that in their opinion the number of Shelf Registrable Securities and, if permitted hereunder, other shares of Common Stock requested to be included in such offering exceeds the number of Shelf Registrable Securities that can be sold
therein without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company shall include in such registration or offering, as applicable, prior to the inclusion of any other shares
of Common Stock which are not Shelf Registrable Securities, the number of Shelf Registrable Securities requested by holders to be included that, in the opinion of such underwriters, can be sold, without any such adverse effect, pro rata among the
respective holders thereof on the basis of the amount of Shelf Registrable Securities owned by each such holder that such holder of Shelf Registrable Securities shall have requested to be included therein.

(f) Restrictions on Shelf Offerings. 

(1) The Company may suspend the use of a prospectus that is part of a Shelf Registration Statement for up to 60 days from the date of the
Suspension Notice (as defined below) and therefore suspend sales of the Shelf Registrable Securities (such period, the “Suspension Period”) by providing written notice to the holders if (A) the Company’s board of directors
determines in its reasonable good faith judgment that the offer or sale of Shelf Registrable Securities would reasonably be expected to have a material adverse effect on any proposal or plan by the Company or any subsidiary to engage in any material
acquisition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization or other transaction involving the Company or any subsidiary, (B) upon advice
of counsel, the sale of Shelf Registrable Securities pursuant to the registration statement would require disclosure of MNPI not otherwise required to be disclosed under applicable law, and (C) either (x) the Company has a bona fide
business purpose for preserving the confidentiality of such transaction or (y) disclosure of such MNPI would have a material adverse effect on the Company or the Company’s ability to consummate such transaction; provided that in
such event, the holders shall be entitled to withdraw such request for a underwritten Shelf Offering and the Company shall pay all registration expenses in connection with such Shelf Offering. The Company may extend the Suspension Period with
the consent of the applicable Buyer, which consent shall not be unreasonably withheld. 
 (2) In the case of an event that causes the Company
to suspend the use of a Shelf Registration Statement as set forth in the preceding paragraph or at any time, when a prospectus relating to a Shelf Offering is required to be delivered under the Securities Act, of the happening of any event as a
result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, subject to this Section 6, at the request of
any such seller, the Company shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Shelf Registrable Securities, such prospectus shall not contain an untrue statement of a material fact
or omit to state any fact necessary to make the statements therein not misleading (a “Suspension Event”), the Company shall give a notice to the holders of Shelf Registrable Securities registered pursuant to such Shelf Registration
Statement (a “Suspension Notice”) to suspend sales of the Shelf Registrable Securities and such notice shall state generally the basis for the notice and that such suspension shall continue only for so long as the Suspension Event or its
effect is continuing. If the basis of such suspension is nondisclosure of MNPI, the Company shall not be required to disclose 

  
 8 

 
the subject matter of such MNPI to holders. A holder shall not affect any sales of the Shelf Registrable Securities pursuant to such Shelf Registration Statement (or such filings) at any
time after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as defined below). Each holder agrees that (1) such notice constitutes MNPI and that it will not engage in any transaction
in any securities of the Company until such notice and the information contained therein ceases to constitute MNPI and (2) such holder shall treat as confidential the receipt of the Suspension Notice and shall not disclose or use the
information contained in such Suspension Notice without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by the holder
in breach of the terms of this Agreement. Holders may recommence effecting sales of the Shelf Registrable Securities pursuant to the Shelf Registration Statement (or such filings) following further written notice to such effect (an “End of
Suspension Notice”) from the Company, which End of Suspension Notice shall be given by the Company to the holders and their counsel, if any, promptly following the conclusion of any Suspension Event. 

6.2 Expenses. All fees and expenses incident to the performance of or compliance with this Section 6 shall be borne by the
Company whether or not any Registrable Securities or Shelf Registrable Securities are sold pursuant to a Registration Statement or the Shelf Registration Statement, as applicable. The fees and expenses referred to in the foregoing sentence shall
include, without limitation, (i) all registration and filing fees (including, without limitation, fees and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made with the SEC,
(B) with respect to filings required to be made with any trading market on which the Common Stock is then listed for trading, (C) in compliance with applicable state securities or Blue Sky laws (including, without limitation, reasonable
fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the Registrable Securities or the Shelf Registrable Securities ) and (D) with respect to any filing that may be required to be made by
any broker through which a holder of Offered Securities or Shelf Offered Securities, as applicable, intends to make sales of Offered Securities or Shelf Offered Securities, as applicable, with the Financial Industry Regulatory Authority, Inc., (ii)
printing expenses, (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) fees and expenses of all other persons or entities retained by the Company in connection with the
consummation of the transactions contemplated by this Section 6, and (vi) fees and disbursements of counsel for each of the Buyers incurred by the Buyers in connection with the sale and delivery of their Registrable Securities and their
Shelf Registrable Securities, subject to a cap of $25,000 in the aggregate for all of the Buyers in connection with each Piggyback Offering or Shelf Offering and $75,000 in the aggregate for all of the Buyers in connection with all such offerings.
In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers
and employees performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Offered Securities or Shelf Offered Securities, as applicable, on any securities exchange
as required hereunder. In no event shall the Company be responsible for any broker or similar commissions, or underwriting discounts, in each case, of any holder of Offered Securities or Shelf Offered Securities, as applicable. 

SECTION 7. Publicity. Any press releases, other public statements or disclosures regarding the
subject matter of this Agreement, the Transaction or the other transactions contemplated therein shall be subject to the express prior written consent of each of the parties hereto after each party has been provided with a reasonable opportunity to
review and comment any such press releases, other public statements or disclosures; provided, however, that any press release, other public statement or disclosure shall be permitted without each parties’ consent to the extent that it
does not contain information beyond that included in a prior press release, other public statement or disclosure approved in writing by each party. Notwithstanding the foregoing any public statement or disclosure that is required by applicable law
including the rules of the SEC or any securities exchange, as reasonably advised by the disclosing party’s counsel, may be made without the prior written consent of each other party, provided, however, that the non-disclosing party is provided with reasonably advance notice of such disclosure and drafts of the proposed public statement or disclosure. 

SECTION 8. Indemnification and Contribution. 

(a) The Company shall indemnify, defend and hold harmless each Buyer (and its respective affiliates, directors, officers, employees, successors
and assigns) from and against any and all losses, claims, damages, liabilities and expenses based upon, arising out of or otherwise in respect of the Transaction relating to 

  
 9 

 
any material inaccuracy in, or any material breach of, the representations or warranties of the Company and the covenants or agreements made by the Company in this Agreement. Each Buyer,
severally and not joint, shall indemnify, defend and hold harmless the Company (and its affiliates, directors, officers, employees, successors and assigns) from and against any and all losses, claims, damages, liabilities and expenses based upon,
arising out of or otherwise in respect of the Transaction relating to any material inaccuracy in, or any material breach of, the representations or warranties of such Buyer and the covenants or agreements made by such Buyer in this Agreement.

(b) If any Registrable Securities or Shelf Registrable Securities are included in a Registration Statement or Shelf Registration Statement, as
applicable, under Section 6 of this Agreement: 
 A. To the extent permitted by law, the Company will indemnify and hold harmless each
Buyer, and the partners, members, officers, directors, and stockholders of each such Buyer; any underwriter (as defined in the Securities Act) for each such Buyer; and each person, if any, who controls such Buyer or underwriter within the meaning of
the Securities Act or the Exchange Act, against any Damages (as defined herein) and any Other Damages (as defined herein), and the Company will pay to each such Buyer, underwriter, controlling person, or other aforementioned person any legal or
other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this
Section 8(b)(A) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable
for any Damages and any Other Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Buyer, underwriter, controlling
person, or other aforementioned person expressly for use in connection with such registration. 
 B. To the extent permitted by law, each
Buyer, severally and not jointly, will indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each person (if any), who controls the Company within the meaning of the
Securities Act, any underwriter (as defined in the Securities Act), any other person or entity selling securities in such Registration Statement or Shelf Registration Statement, as applicable, and any controlling person of any such underwriter or
other person or entity, against any Damages, in each case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such
Buyer expressly for use in connection with such Registration Statement or Shelf Registration Statement; and each such Buyer will pay to the Company and each other aforementioned person any legal or other expenses reasonably incurred thereby in
connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 8(b)(B) shall not apply to amounts paid
in settlement of any such claim or proceeding if such settlement is effected without the consent of the Buyer, which consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Buyer
by way of indemnity or contribution under Section 8(b)(B) and Section 8(b)(D) exceed the proceeds from the offering received by such Buyer (net of any selling expenses paid by such Buyer), except in the case of fraud or willful misconduct
by such Buyer.. 
 C. Promptly after receipt by an indemnified party under this Section 8(b) of notice of the commencement of any
action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 8(b), give the
indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly with any other indemnifying party to which
notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented without conflict by one
counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due
to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the indemnifying party within a reasonable time of the

  
 10 

 
commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 8(b), to the extent that such failure materially prejudices
the indemnifying party’s ability to defend such action. The failure to give notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 8(b). 

D. To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 8(b) but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration
of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 8(b) provides for indemnification in such case, or (ii) contribution under
the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 8(b), then, and in each such case, such parties will contribute to the aggregate losses, claims, damages, liabilities,
or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in connection with the statements, omissions, or
other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by
reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the indemnifying party or by the indemnified party and
the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case no person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Buyer’s liability pursuant to this
Section 9(b)(D), when combined with the amounts paid or payable by such Buyer pursuant to Section 9(b)(B), exceed the proceeds from the Piggyback Offering or Shelf Offering, as applicable, received by such Buyer (net of any selling
expenses paid by such Buyer), except in the case of willful misconduct or fraud by such Buyer. 
 E. Notwithstanding the foregoing, to the
extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with any Piggyback Offering or Shelf Offering, as applicable, are in conflict with the foregoing provisions, the
provisions in the underwriting agreement shall control. 
 F. Unless otherwise superseded by an underwriting agreement entered into in
connection with any Piggyback Offering or Shelf Offering, the obligations of the Company and Buyers under this Section 8(b) shall survive the completion of any offering of Registrable Securities or Shelf Registrable Securities under this
Section 8, and otherwise shall survive the termination of this Agreement. 
 For purposes of this Section 8(b), “Damages” means any
loss, damage, claim or liability (joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect
thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Shelf Registration Statement of the Company, including any preliminary prospectus or
final prospectus contained therein or any amendments or supplements thereto; or (ii) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading.

 For purposes of this Section 9(b), “Other Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto
may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon any violation or alleged violation by
the Company (or any of its agents or “affiliates” as such term is defined in Rule 405 under the Securities Act) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities
Act, the Exchange Act, or any state securities law in connection with the Piggyback Offering or the Shelf Offering. 

  
 11 

 SECTION 9. Notices. Any notice required or permitted by this
Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by facsimile (upon confirmation of receipt), or 72 hours after being deposited in the U.S. mail, as certified or
registered mail, with postage prepaid, addressed to the party to be notified at such address as that party may specify by notice to the other party. 

SECTION 10. Successors and Assigns. This Agreement shall be binding on, and inure to the
benefit of, the parties hereto and their respective successors, heirs, personal representatives and permitted assigns. 

SECTION 11. Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

SECTION 12. Severability. If any provision of this Agreement is held to be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired hereby and the parties will attempt to agree upon a valid and enforceable provision
that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement. 

SECTION 13. Entire Agreement. This Agreement represents the understanding of the parties
hereto with respect to the matters contemplated hereby, and there are no written or oral representations, warranties, understandings or agreements with respect hereto except as expressly set forth herein. 

SECTION 14. Amendments; Waivers. No provision of this Agreement may be waived or amended
except in a written instrument signed, in the case of an amendment, by each party or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. 

SECTION 15. Further Assurances. Each Buyer and the Company hereby agrees and
provides further assurances that it will, in the future, execute and deliver any and all further agreements, certificates, instruments and documents and do and perform or cause to be done and performed, all acts and things as may be necessary or
appropriate to carry out the intent and accomplish the purposes of this Agreement. 

SECTION 16. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York. Each of the parties hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby. 
 SECTION 17. Electronic Delivery.
This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered
by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument and shall be considered
to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or
the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any
such defense. 
 SECTION 18. MUTUAL WAIVER OF JURY TRIAL. THE COMPANY AND EACH BUYER HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 19. CONSENT TO JURISDICTION. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE
EXCLUSIVE JURISDICTION OF ANY COURT OF THE STATE OF NEW YORK OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE AFFAIRS OF THE COMPANY. TO THE FULLEST EXTENT THEY MAY EFFECTIVELY DO SO UNDER

  
 12 

 
APPLICABLE LAW, THE PARTIES HERETO IRREVOCABLY WAIVE AND AGREE NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE OR OTHERWISE, ANY CLAIM THAT THEY ARE NOT SUBJECT TO THE JURISDICTION OF ANY SUCH
COURT, ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN
AN INCONVENIENT FORUM. 
 SECTION 20. No Inconsistent Agreements. The Company shall not
hereafter enter into any agreement with respect to its securities which is inconsistent with or violates the rights granted to any Buyer in this Agreement. 

SECTION 21. Obligations of Buyers. All of the representations, warranties, covenants and
agreements of the Buyers hereunder are several and not joint and relate solely to the proportion of the Shares to be purchased by each Buyer and no Buyer shall be liable for any breach of any representations, warranties, covenants or agreements by
any other Buyer. Nothing contained in this Agreement shall be construed to create as among the Buyers an association, trust, partnership, joint venture, association taxable as a corporation or other entity for the conduct of any business for profit,
or impose a trust or partnership duty, obligation or liability on, or with regard to any Buyer, nor shall any Buyer have the right or authority to assume, create or incur any liability or obligation, express or implied, against, in the name of, or
on behalf of any such other Buyer without the prior written consent of such other Buyer. 
 [Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date
first above-written. 
  

			
	COMPANY:
	
	TRIPLEPOINT VENTURE GROWTH BDC CORP.
		
	By:	 	 /s/ Sajal K. Srivastava

	Name: Sajal K. Srivastava
	Title: President
	
	BUYERS:
	
	MR. JAMES P. LABE
	
	 /s/ James P. Labe

	
	MR. SAJAL K. SRIVASTAVA
	
	 /s/ Sajal K. Srivastava

	
	MR. ANDREW J. OLSON
	
	 /s/ Andrew J. OlsonExhibit 4.2

 

 

 

 

REGISTRATION
RIGHTS AGREEMENT

dated as of

November [●], 2017

among

INFLARX N.V.

and

THE SHAREHOLDERS PARTY HERETO

 

 

 

 

 

 

 

 

 

     

    

    

TABLE
OF CONTENTS

 

Page

 

	ARTICLE 1
	Definitions
	 	 
	Section 1.01.  Definitions.	1
	Section 1.02.  Other Definitional and Interpretative Provisions.	4
	 	 
	ARTICLE 2
	Registration Rights
	 
	Section 2.01.  Demand Registration.	5
	Section 2.02.  Piggyback Registration.	7
	Section 2.03.  Shelf Registration.	8
	Section 2.04.  Registration Procedures.	9
	Section 2.05.  Participation In Public Offering.	13
	Section 2.06.  Rule 144 Sales; Cooperation By The Company.	13
	 	 
	ARTICLE 3
	Indemnification and Contribution
	 
	Section 3.01.  Indemnification by the Company.	13
	Section 3.02.  Indemnification by Participating Shareholders.	14
	Section 3.03.  Undertaking.	14
	Section 3.04.  Liability.	14
	Section 3.05.  Conduct of Indemnification Proceedings.	14
	Section 3.06.  Contribution.	15
	 	 
	ARTICLE 4
	Miscellaneous
	 
	Section 4.01.  Binding Effect; Assignability; Benefit.	16
	Section 4.02.  Notices.	17
	Section 4.03.  Waiver; Amendment; Termination.	18
	Section 4.04.  Governing Law.	18
	Section 4.05.  Jurisdiction.	18
	Section 4.06.  WAIVER OF JURY TRIAL.	18
	Section 4.07.  Specific Enforcement.	19
	Section 4.08.  Counterparts; Effectiveness.	19
	Section 4.09.  Entire Agreement.	19
	Section 4.10.  Severability.	19
	Section 4.11.  Confidentiality.	19
	Section 4.12.  Independent Nature of Shareholders' Obligations and Rights.	20

 

    i 

    

    

Exhibit A       Joinder
Agreement

 

 

 

 

    ii 

    

    

REGISTRATION
RIGHTS AGREEMENT

 

THIS REGISTRATION
RIGHTS AGREEMENT dated as of November [●], 2017 (this “Agreement”) by and among InflaRx N.V., a Dutch
public company with limited liability (the “Company”), and the shareholders listed on the signature pages hereto,
as well as any Permitted Transferees (as defined below).

 

In consideration
of the mutual promises made herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

Article
1

Definitions

 

Section 1.01.
Definitions. (a) The following terms, as used herein, have the following meanings:

 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control
with such Person, provided that no securityholder of the Company shall be deemed an Affiliate of any other securityholder
solely by reason of any investment in the Company, and provided further that “Affiliate” with respect to those
Shareholders that are advisory clients of a Person shall include other funds and accounts managed by such Person. For the purpose
of this definition, the term “control” (including, with correlative meanings, the terms “controlling”,
“controlled by” and “under common control with”), as used with respect to any Person, means
the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities, by contract or otherwise.

 

“Business
Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York City or Amsterdam, the
Netherlands are authorized by law to close.

 

“Common
Shares” means ordinary shares, nominal value €0.12 per share, of the Company and any shares into which such Common
Shares may thereafter be converted or changed (including, without limitation, by way of share dividend, share split, reverse share
split, combination, reclassification or similar change in the capital structure of the Company involving such ordinary shares).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“FINRA”
means the Financial Industry Regulatory Authority (formerly, the National Association of Securities Dealers, Inc.) and any successor
thereto.

 

    1

    

    

“First
Public Offering” means the Company’s initial Public Offering.

 

“Permitted
Transferee” means in the case of any Shareholder, a Person to whom Registrable Securities are Transferred by such Shareholder
in accordance with Section 4.01(b); provided that (i) such Transfer does not violate any agreements between such Shareholder
and the Company or any of the Company’s subsidiaries, (ii) such Transfer is not made in a registered offering or pursuant
to Rule 144 and (iii) such transferee shall only be a Permitted Transferee if and to the extent the transferor designates
the transferee as a Permitted Transferee entitled to rights hereunder pursuant to ‎Section 4.01(b).

 

“Person”
means an individual, corporation, limited liability company, partnership, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality thereof.

 

“Public
Offering” means an underwritten public offering of Registrable Securities of the Company pursuant to an effective registration
statement under the Securities Act, other than pursuant to a registration statement on Form S-4, Form F-4 or Form S-8 or any similar
or successor form.

 

“Registrable
Securities” means, at any time, any Common Shares and any other securities issued or issuable by the Company or any
of its successors or assigns in respect of any such Common Shares by way of conversion, exchange, exercise, dividend, split, reverse
split, combination, recapitalization, reclassification, merger, amalgamation, consolidation, sale of assets, other reorganization
or otherwise until (i) a registration statement covering such Common Shares or such other securities has been declared effective
by the SEC and such Common Shares or such other securities have been disposed of pursuant to such effective registration statement,
(ii) such Common Shares or such other securities are sold under circumstances in which all of the applicable conditions of Rule
144 are met or (iii) such Common Shares or such other securities are eligible for sale by the holder thereof without registration
under Rule 144 without volume limitation during a three-month period.

 

“Registration
Expenses” means any and all expenses incident to the performance of, or compliance with, any registration or marketing
of Registrable Securities, including all (i) registration and filing fees, and all other fees and expenses payable in connection
with the listing of securities on any securities exchange or automated interdealer quotation system, (ii) fees and expenses of
compliance with any securities or “blue sky” laws (including reasonable and documented fees and disbursements of counsel
in connection with “blue sky” qualifications of the securities registered), (iii) expenses in connection with the
preparation, printing, mailing and delivery of any registration statements, prospectuses and other documents in connection therewith
and any amendments or supplements thereto, (iv) security engraving and printing expenses, (v) internal expenses of the Company
(including all salaries and expenses of its officers and

 

    2

    

    

employees performing
legal or accounting duties), (vi) reasonably incurred fees and disbursements of counsel for the Company and customary fees and
expenses for independent certified public accountants retained by the Company (including the expenses relating to any comfort
letters or costs associated with the delivery by independent certified public accountants of any comfort letters requested pursuant
to ‎Section 2.05(h)), (vii) reasonable fees and expenses of any special experts retained by the Company in connection with
such registration, (viii) reasonably incurred fees and disbursements of one counsel for all of the Shareholders participating
in the offering selected by the Shareholders holding the majority of the Registrable Securities to be sold in the offering for
the account of all Shareholders in the offering, (ix) fees and expenses in connection with any review by FINRA of the underwriting
arrangements or other terms of the offering, and all fees and expenses of any “qualified independent underwriter,”
including the reasonable and documented fees and expenses of any counsel thereto, (x) reasonable fees and disbursements of underwriters
customarily paid by issuers or sellers of securities, but excluding any underwriting fees, discounts and commissions attributable
to the sale of Registrable Securities and covered fees (other than pursuant to clause (ix) hereof), (xi) costs of printing and
producing any agreements among underwriters, underwriting agreements, any “blue sky” or legal investment memoranda
and any selling agreements and other documents in connection with the offering, sale or delivery of the Registrable Securities,
(xii) transfer agents’ and registrars’ fees and expenses and the fees and expenses of any other agent or trustee appointed
in connection with such offering and (xiii) expenses relating to any analyst or investor presentations or any “road shows”
undertaken in connection with the registration, marketing or selling of the Registrable Securities. Except as set forth in clause
(viii) above, Registration Expenses shall not include any out-of-pocket expenses of the Shareholders (or the agents who manage
their accounts). For the avoidance of doubt, Registration Expenses shall not include any underwriting fees, discounts, commissions
or taxes attributable to the sale of Registrable Securities.

 

“Rule
144” means Rule 144 (or any successor or similar provisions) under the Securities Act.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Shareholder”
means at any time, any Person (other than the Company) who shall then be a party to or bound by this Agreement, so long as such
Person shall “beneficially own” (as such term is defined in Rule 13d-3 of the Exchange Act) any Registrable Securities.

 

“Transfer”
means, with respect to any Registrable Securities, (i) when used as a verb, to sell, assign, dispose of, exchange, pledge, encumber,
hypothecate or otherwise transfer such Registrable Securities or any participation

 

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or interest
therein, whether directly or indirectly, or agree or commit to do any of the foregoing and (ii) when used as a noun, a direct
or indirect sale, assignment, disposition, exchange, pledge, encumbrance, hypothecation, or other transfer of such Registrable
Securities or any participation or interest therein or any agreement or commitment to do any of the foregoing.

 

(b)           
Each of the following terms is defined in the Section set forth opposite such term:

 

	Term	Section
	Agreement	Preamble
	Company	Preamble
	Damages	‎3.01
	Demand Notice	2.01(a)
	Demand Registration	‎2.01(a)
	Indemnified Party	3.05
	Indemnifying Party	3.05
	Initial Requesting Shareholders	2.01(a)
	Initial Shelf Requesting Shareholders	2.03
	Joinder Agreement	4.01(b)
	Maximum Offering Size	‎2.01(e)
	Notice	‎4.02
	Piggyback Registration	‎2.02(a)
	Requesting Shareholder	‎2.01(a)
	Shelf Registration	‎2.03
	Shelf Requesting Shareholder	2.03
	Underwritten Takedown	‎2.03

 

Section 1.02.
Other Definitional and Interpretative Provisions. The words “hereof”, “herein” and “hereunder”
and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of
this Agreement. The captions herein are included for convenience of reference only and shall be ignored in the construction or
interpretation hereof. References to Articles, Sections or Exhibits are to Articles, Sections and Exhibits of this Agreement unless
otherwise specified. All Exhibits annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement
as if set forth in full herein. Any capitalized term used in any Exhibit but not otherwise defined therein shall have the meaning
as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the
singular. Whenever the words “include”, “includes” or

 

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“including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not
they are in fact followed by those words or words of like import. “Writing”, “written” and comparable
terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References
to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance
with the terms hereof and thereof. References to any Person include the successors and permitted assigns of that Person. References
from or through any date mean, unless otherwise specified, from and including or through and including, respectively.

 

Article
2

Registration Rights

 

Section
2.01. Demand Registration. (a) If at any time after 180 days following the completion of the First Public Offering,
the Company shall receive a request from a Shareholder or group of Shareholders, in each case holding at least 40% of the
outstanding Registrable Securities (the requesting Shareholder(s) shall be referred to herein as the “Initial
Requesting Shareholders”), that the Company effect the registration under the Securities Act of all or any portion
of such Initial Requesting Shareholder’s Registrable Securities, and specifying the intended method of disposition
thereof, then the Company shall give notice (a “Demand Notice”) of such requested registration (each such
request shall be referred to herein as a “Demand Registration”) to the other Shareholders, which notice
shall be given not later than five Business Days prior to the anticipated filing date of the registration statement relating
to such Demand Registration. Such other Shareholders may, upon notice received by the Company no later than two Business Days
after the date of notice of a Demand Registration, request that the Company also effect the registration under the Securities
Act of all or any portion of each such other Shareholder’s Registrable Securities (such other requesting Shareholders,
together with the Initial Requesting Shareholder(s), shall be referred to herein as the “Requesting
Shareholders”). Thereafter, subject to the restrictions in Section ‎2.01(e), the Company shall use commercially
reasonable efforts to effect the registration under the Securities Act of all Registrable Securities for which the Requesting
Shareholders have requested registration under this ‎Section 2.01 to the extent necessary to permit the disposition of
the Registrable Securities so to be registered (in accordance with the intended methods thereof as aforesaid), provided
that the Company shall be permitted to effect the registration under the Securities Act of any securities other than the
Registrable Securities (including for the benefit of Persons not party to this Agreement) as part of any Demand Registration; provided
further that the Company shall not be obligated to effect a Demand Registration unless the aggregate gross proceeds
expected to be received from the sale of the Registrable Securities requested to be included in such Demand Registration
equals or exceeds $20,000,000 or such lesser amount that

 

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constitutes
all of the Requesting Shareholder’s Registrable Securities (provided that such lesser amount is at least $10,000,000).
In no event shall the Company be required to effect (i) more than one Demand Registration hereunder within any six-month period
or (ii) any Demand Registration if, at the time of such request, six or more Demand Registrations and Underwritten Takedowns (as
defined below) have previously been effected ((i) and (ii) hereinafter collectively referred to as the “Demand Registration
Limitations”).

 

(b)           
At any time prior to the effective date of the registration statement relating to a Demand Registration, a Shareholder
may withdraw from the related registration by providing written notice to the Company. If sufficient Registrable Securities are
so withdrawn such that the number of Registrable Securities to be included in such Demand Registration does not meet the applicable
threshold required for such Demand Registration pursuant to Section 2.01(a), the Company may cease all efforts to effect such
Demand Registration, and upon the Company ceasing all efforts to effect registration, such Demand Registration shall be deemed
revoked. A request, so revoked, shall be considered to be a Demand Registration for purposes of the Demand Registration Limitations
unless (i) such revocation arose out of the fault of the Company or (ii) the Requesting Shareholders reimburse the Company for
all Registration Expenses (other than the expenses set forth under clause (v) of the definition of the term Registration Expenses)
incurred prior to such revocation, pro rata among such Requesting Shareholders on the basis of the number of Registrable Securities
of such Requesting Shareholders that were to be included in such revoked Demand Registration.

 

(c)           
The Company shall be liable for and shall pay all Registration Expenses in connection with any Demand Registration, regardless
of whether such registration is effected, unless the Requesting Shareholders elect to pay such Registration Expenses as described
in the last sentence of ‎Section 2.01(b).

 

(d)            A
Demand Registration shall not be deemed to have occurred (other than as provided in Section 2.01‎(b)) unless the
registration statement relating thereto (i) has become effective under the Securities Act and (ii) has remained effective for
a period of at least 30 days (or such shorter period in which all Registrable Securities of the Requesting Shareholders
included in such registration have actually been sold thereunder).

 

(e)           
If a Demand Registration involves a Public Offering and the managing underwriter advises the Company and the Requesting
Shareholder that, in its view, the number of shares of Registrable Securities requested to be included in such registration (including
any securities that the Company proposes to be included that are not Registrable Securities) exceeds the largest number of shares
that can be sold without having an adverse effect on such offering, including the price at which such shares can be sold (the
“Maximum Offering 

 

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Size”),
the Company shall include in such registration, in the priority listed below, up to the Maximum Offering Size:

 

(i)           
first, all Registrable Securities requested to be included in such registration by all Requesting Shareholders (allocated,
if necessary for the offering not to exceed the Maximum Offering Size, pro rata among such Shareholders on the basis of the relative
number of Registrable Securities so requested to be included in such registration by each such Shareholder, and

 

(ii)           
second, any securities proposed to be registered by the Company (including for the benefit of any other Persons not party
to this Agreement).

 

(f)           
Upon notice to the Requesting Shareholders, the Company may postpone effecting a Demand Registration on two occasions during
any period of twelve consecutive months for a reasonable time specified in the notice but not exceeding 90 days in the aggregate
in any period of twelve consecutive months, if (i) the Company reasonably determines in good faith that effecting the registration
would materially and adversely affect an offering of securities of the Company the preparation of which had then been commenced,
or (ii) the Company is in possession of material non-public information the disclosure of which during the period specified in
such notice the Company reasonably believes would not be in the best interests of the Company.

 

Section 2.02.
Piggyback Registration. (a) If at any time later than 180 days after the Initial Public Offering the Company proposes to
register any Common Shares under the Securities Act (other than (i) a Shelf Registration, which will be subject to the provisions
of Section 2.03; provided that any Underwritten Takedown will be subject to this Section 2.02, or (ii) a registration on Form
S-8, F-4 or S-4, or any successor or similar forms, relating to Common Shares issuable upon exercise of employee stock options
or in connection with any employee benefit or similar plan of the Company or in connection with a direct or indirect acquisition
by the Company of another Person), whether or not for sale for its own account, the Company shall each such time give prompt notice
at least two Business Days prior to the anticipated filing date of the registration statement relating to such registration to
each Shareholder, which notice shall set forth such Shareholder’s rights under this ‎Section 2.02 and shall offer such
Shareholder the opportunity to include in such registration statement the number of Registrable Securities of the same class or
series as those proposed to be registered as each such Shareholder may request (a “Piggyback Registration”).
Any such Shareholder may, within two Business Days after the receipt of notice from the Company, request that the Company also
effect the registration under the Securities Act of all or any portion of such Shareholder’s Registrable Securities. Thereafter,
subject to the provisions of ‎Section 2.02(b), the Company shall use commercially reasonable efforts to effect the registration
under the Securities Act

 

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of all Registrable
Securities that the Company has been so requested to register by all such Shareholders, to the extent necessary to permit the
disposition of the Registrable Securities so to be registered, provided that (A) if such registration involves a Public
Offering, all such Shareholders requesting to be included in the Company’s registration must sell their Registrable Securities
to the underwriters selected as provided in Section 2.05(f) on
the same terms and conditions as apply to the Company, and (B) if, at any time after giving notice of its intention to register
any Common Shares pursuant to this ‎Section 2.02(a) and prior to the effective date of the registration statement filed in
connection with such registration, the Company shall determine for any reason not to register such securities, the Company shall
give notice to all such Shareholders and, thereupon, shall be relieved of its obligation to register any Registrable Securities
in connection with such registration. No registration effected under this ‎Section 2.02 shall relieve the Company of its obligations
to effect a Demand Registration to the extent required by ‎Section 2.01 or a Shelf Registration to the extent required by
‎Section 2.03. The Company shall pay all Registration Expenses in connection with each Piggyback Registration.

 

(b)           
If a Piggyback Registration involves a Public Offering and the managing underwriter advises the Company that, in its view,
the number of Shares that the Company and such Shareholders intend to include in such registration exceeds the Maximum Offering
Size, the Company shall include in such registration, in the following priority, up to the Maximum Offering Size:

 

(i)           
first, so much of the Common Shares proposed to be registered for the account of the Company, as would not cause the offering
to exceed the Maximum Offering Size,

 

(ii)           second, all Registrable Securities requested to be included in such registration by any Shareholders pursuant to this ‎Section
2.02 (allocated, if necessary for the offering not to exceed the Maximum Offering Size, pro rata among such Shareholders on the
basis of the relative number of shares of Registrable Securities so requested to be included in such registration by each such
Shareholder, and

 

(iii)          third, any securities proposed to be registered for the account of any other Persons with such priorities among them as
the Company shall determine.

 

Section 2.03.
Shelf Registration. (a) At any time after the first anniversary of the First Public Offering, if the Company is eligible
to use Form F-3 or Form S-3, a Shareholder or group of Shareholders, in each case holding at least 20% of the Registrable Securities
(the requesting Shareholder(s) shall be referred to herein as the “Initial Shelf Requesting Shareholders”),
may request the Company to effect a registration of some or all of the Registrable Securities held by such Initial Shelf Requesting
Shareholders under a Registration Statement

 

    8

    

    

pursuant to
Rule 415 under the Securities Act (or any successor or similar rule) (a “Shelf Registration”). The Company
shall give notice of such requested Shelf Registration to the other Shareholders at least two Business Days prior to the anticipated
filing date of the registration statement relating to such Shelf Registration. Such other Shareholders may, upon notice received
by the Company no later than two Business Days after the date of the notice of a Shelf Registration, request that the Company
also effect a registration of some or all of the Registrable Securities held by such other Shareholders (such other requesting
Shareholders, together with the Initial Shelf Requesting Shareholders, the “Shelf Requesting Shareholders”).
Thereafter, subject to the restrictions set forth in Section 2.01(e), the Company shall use commercially reasonable efforts to
effect the registration under the Securities Act of all Registrable Securities for which the Shelf Requesting Shareholders have
requested registration under this Section 2.03 to the extent necessary to permit the disposition of the Registrable Securities
so to be registered on such Shelf Registration, provided that the Company shall be permitted to effect the registration
under the Securities Act of any securities other than the Registrable Securities (including for the benefit of Persons not party
to this Agreement) as part of any Shelf Registration. The Company shall only be required to effectuate one Public Offering from
such Shelf Registration (an “Underwritten Takedown”) within any six-month period, which offering shall be deemed
a Demand Registration for purposes of the Company’s obligation to effect no more than six Demand Registrations in the aggregate
as set forth in Section 2.01(a).

 

(b)       The
provisions of ‎Section 2.01 shall apply mutatis mutandis to each Underwritten Takedown except as otherwise provided
in this Section 2.03, with references to “filing of the registration statement” or “effective date” being
deemed references to filing of a prospectus or supplement for such offering, references to “registration” being deemed
references to the offering, references to “Demand Registration” being deemed references to “Shelf Registration”
or “Underwritten Takedown” as applicable and references to “Requesting Shareholders” being deemed references
to “Shelf Requesting Shareholders”; provided that Shelf Requesting Shareholders shall only include Shareholders
whose Registrable Securities are included in such Shelf Registration or may be included therein without the need for an amendment
to such Shelf Registration (other than an automatically effective amendment). So long as the Shelf Registration is effective,
no Shareholder may request any Demand Registration pursuant to ‎Section 2.01 with respect to Registrable Securities that are
registered or registrable without the need for an amendment (other than an automatically effective amendment) on such Shelf Registration.

 

Section 2.04.
Registration Procedures. Whenever Shareholders request that any Registrable Securities be registered pursuant to Section
‎2.01, ‎2.02, or ‎2.03, subject to the provisions of such Sections, the Company shall use

 

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commercially
reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method
of disposition thereof as promptly as practicable, and, in connection with any such request:

 

(a)           
The Company shall use commercially reasonable efforts to prepare and file with the SEC within 120 days of such request
or such later date as necessary to comply with applicable law, a registration statement on any form for which the Company then
qualifies or that counsel for the Company shall deem appropriate and which form shall be available for the sale of the Registrable
Securities to be registered thereunder in accordance with the intended method of distribution thereof, and use commercially reasonable
efforts to cause such filed registration statement to become and remain effective for a period of not less than 30 days, or in
the case of a Shelf Registration, three years (or such shorter period in which all of the Registrable Securities of the Shareholders
included in such registration statement shall have actually been sold thereunder or cease to be Registrable Securities).

 

(b)           
Prior to filing a registration statement or prospectus or any amendment or supplement thereto (other than any report filed
pursuant to the Exchange Act that is incorporated by reference therein), the Company shall, if requested, furnish to each participating
Shareholder and each underwriter, if any, of the Registrable Securities covered by a registration statement or prospectus or any
amendments or supplements thereto copies of such registration statement, prospectus, amendment or supplement in the form as proposed
to be filed, and thereafter the Company shall furnish to such Shareholder and underwriter, if any, such number of copies of such
registration statement, prospectus, amendment and supplement (in each case excluding all exhibits thereto and documents incorporated
by reference therein unless specifically requested), the prospectus included in such registration statement (including each preliminary
prospectus and any summary prospectus) and any other prospectus filed under Rule 424, Rule 430A, Rule 430B or Rule 430C under
the Securities Act as such Shareholder or underwriter may reasonably request in order to facilitate the disposition of the Registrable
Securities owned by such Shareholder.

 

(c)           
After the filing of the registration statement, the Company shall (i) cause the related prospectus to be supplemented
by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act, (ii) comply
with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such registration
statement during the applicable period in accordance with the intended methods of disposition by the Shareholders thereof set
forth in such registration statement or supplement to such prospectus and (iii) promptly notify each Shareholder holding Registrable
Securities covered by such registration statement of any stop order issued or threatened by the SEC or any state securities commission
and take all reasonable actions required to prevent the entry of such stop order or to remove it if entered.

 

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(d)           
The Company shall use commercially reasonable efforts to register or qualify the Registrable Securities covered by such
registration statement under such other securities or “blue sky” laws of such jurisdictions in the United States as
any Shareholder holding such Registrable Securities reasonably (in light of such Shareholder’s intended plan of distribution)
requests; provided that the Company shall not be required to (A) qualify generally to do business in any jurisdiction where
it would not otherwise be required to qualify but for this ‎Section 2.04(d), (B) subject itself to taxation in any such jurisdiction
or (C) consent to general service of process in any such jurisdiction.

 

(e)           
The Company shall as promptly as practicable notify each Shareholder holding such Registrable Securities covered by such
registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of
the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered
to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein not misleading and promptly
prepare and make available to each such Shareholder and file with the SEC any such supplement or amendment.

 

(f)           
The Company shall have the right, in its sole discretion, to select an underwriter or underwriters in connection with any
Public Offering resulting from any exercise of a Demand Registration or Underwritten Takedown. In connection with any Public Offering,
the Company shall enter into customary agreements (including an underwriting agreement in customary form) and take such all other
actions as are reasonably required in order to expedite or facilitate the disposition of such Registrable Securities in any such
Public Offering, including if necessary in the judgment of Company counsel, the engagement of a “qualified independent underwriter”
in connection with the qualification of the underwriting arrangements with FINRA.

 

(g)           
In connection with any Public Offering, the Company shall use commercially reasonable efforts to furnish to each underwriter,
if any, a signed counterpart, addressed to such underwriter, of (i) an opinion or opinions of counsel to the Company and (ii)
a comfort letter or comfort letters from the Company’s independent public accountants, each in customary form and covering
such matters of the kind customarily covered by opinions or comfort letters, as the case may be, as the managing underwriter(s)
therefor reasonably requests.

 

(h)           
The Company shall use commercially reasonable efforts to comply with all applicable rules and regulations of the SEC and
make available to its security holders, as soon as reasonably practicable, an earning statement or such other document covering
a period of 12 months, beginning within three months after the effective date of the registration statement, which earning statement
satisfies the requirements of Rule 158 under the Securities Act.

 

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(i)           
The Company may require each Shareholder promptly to furnish in writing to the Company such information regarding the distribution
of the Registrable Securities as the Company may from time to time reasonably request and such other information as may be legally
required in connection with such registration. In connection with a Shelf Registration, any Shareholder that does not provide
such information within two Business Days of a request by the Company may have its Registrable Securities excluded from such Shelf
Registration.

 

(j)           
Each Shareholder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described
in ‎Section 2.04(e), such Shareholder shall forthwith discontinue disposition of Registrable Securities pursuant to the registration
statement covering such Registrable Securities until such Shareholder’s receipt of the copies of the supplemented or amended
prospectus contemplated by ‎Section 2.04(e), and, if so directed by the Company, such Shareholder shall deliver to the Company
all copies, other than any permanent file copies then in such Shareholder’s possession, of the most recent prospectus covering
such Registrable Securities at the time of receipt of such notice. If the Company shall give such notice, the Company shall extend
the period during which such registration statement shall be maintained effective (including the period referred to in ‎Section
2.04(a)) by the number of days during the period from and including the date of the giving of notice pursuant to Section ‎2.04(e)
to the date when the Company shall make available to such Shareholder a prospectus supplemented or amended to conform with
the requirements of ‎Section 2.04(e).

 

(k)           
The Company shall use commercially reasonable efforts to list all Registrable Securities sold pursuant to an offering conducted
pursuant to this Agreement on any securities exchange or quotation system on which the Common Shares are then listed or traded.

 

(l)           
In any Public Offering conducted pursuant to a Demand Registration, the Company shall have appropriate officers of the
Company (i)  be available to prepare and make presentations at any “road shows” and before analysts and (ii) otherwise
use their reasonable efforts to cooperate as reasonably requested by the underwriters in the offering, marketing or selling of
the Registrable Securities.

 

(m)           
Each Shareholder agrees that, in connection with any offering conducted pursuant to this Agreement, it will not prepare
or use or refer to, any “free writing prospectus” (as defined in Rule 405 of the Securities Act) without the prior
written authorization of the Company (which authorization shall not be unreasonably withheld) and will not distribute any written
materials in connection with the offer or sale of the Registrable Securities pursuant to any Public Offering conducted hereunder
other than the prospectus and any such free writing prospectus so authorized.

 

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Section 2.05.
Participation In Public Offering. No Shareholder may participate in any Public Offering hereunder unless such Shareholder
(a) agrees to sell such Shareholder’s Registrable Securities on the basis provided in any underwriting arrangements approved
by the Company and consistent with the provisions of this Agreement and (b) completes and executes all questionnaires, powers
of attorney, indemnities, underwriting agreements and other documents consistent with the provisions of this Agreement and reasonably
required under the terms of such underwriting arrangements and the provisions of this Agreement in respect of registration rights.

 

Section 2.06.
Rule 144 Sales; Cooperation By The Company. If any Shareholder shall transfer any Registrable Securities pursuant to Rule
144, the Company shall cooperate, to the extent commercially reasonable, with such Shareholder and shall provide to such Shareholder
such information as such Shareholder shall reasonably request. Without limiting the foregoing, the Company shall at any time after
any of the Company’s Common Shares are registered under the Securities Act or the Exchange Act: (i) make and keep available
public information, as those terms are contemplated by Rule 144; (ii) timely file with the SEC all reports and other documents
required to be filed under the Securities Act and the Exchange Act; and (iii) furnish to each Shareholder forthwith upon request
a written statement by the Company as to its compliance with the reporting requirements of the Securities Act and the Exchange
Act, a copy of the most recent annual or quarterly report of the Company, and such other information as such Shareholder may reasonably
request in order to avail itself of any rule or regulation of the SEC allowing such Shareholder to sell any Registrable Securities
without registration.

 

Article
3

Indemnification and Contribution

 

Section 3.01.
Indemnification by the Company. The Company agrees to indemnify and hold harmless each Shareholder holding Registrable
Securities covered by a registration statement, and all officers, directors and employees of such Shareholder, and each Person,
if any, who controls such Shareholder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act from and against any and all losses, claims, damages, liabilities and expenses (including reasonable and documented expenses
of investigation and reasonable and documented attorneys’ fees and expenses) (collectively, “Damages”)
caused by or relating to any untrue statement or alleged untrue statement of a material fact contained in any registration statement
or prospectus relating to the Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments
or supplements thereto) or any preliminary prospectus, or caused by or relating to any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such
Damages are caused by or related to

 

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any such untrue
statement or omission or alleged untrue statement or omission so made based upon information furnished in writing to the Company
by such Shareholder or on such Shareholder’s behalf expressly for use therein. The Company also agrees to indemnify any
underwriters of the Registrable Securities, their officers and directors and each Person who controls such underwriters within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act on substantially the same basis as that of the
indemnification of the Shareholders provided in this ‎Section 3.01.

 

Section 3.02.
Indemnification by Participating Shareholders. (a) Each Shareholder holding Registrable Securities covered by a registration
statement agrees, severally but not jointly, to indemnify and hold harmless the Company, its officers, directors and agents and
each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act to the same extent as the indemnity from the Company to such Shareholder provided in ‎Section 3.01, but only with respect
to information furnished in writing by such Shareholder or on such Shareholder’s behalf relating to such Shareholder or
the Registrable Securities held by it expressly for use in any registration statement or prospectus relating to the Registrable
Securities, or any amendment or supplement thereto, or any preliminary prospectus. Each such Shareholder also agrees to indemnify
and hold harmless underwriters of the Registrable Securities, their officers and directors and each Person who controls such underwriters
within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act on substantially the same basis as that
of the indemnification of the Company provided in this ‎Section 3.02.

 

Section 3.03.
Undertaking. As a condition to including Registrable Securities in any registration statement filed in accordance with
‎Article 2, the Company may require that it shall have received an undertaking reasonably satisfactory to it from any underwriter
to indemnify and hold it harmless to the extent customarily provided by underwriters with respect to similar securities

 

Section 3.04.
Liability. No Shareholder shall be liable for indemnification obligations under Section 3.02 for any Damages in excess
of the net proceeds realized by such Shareholder in the sale of Registrable Securities of such Shareholder to which such Damages
relate.

 

Section 3.05.
Conduct of Indemnification Proceedings. If any proceeding (including any governmental investigation) shall be brought or
asserted against any Person in respect of which indemnity may be sought pursuant to Section 3.01 or 3.02 such Person (an “Indemnified
Party”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Party”)
in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory
to such Indemnified Party, and shall assume the payment of all reasonable and documented fees and expenses, provided that
the failure of any Indemnified Party so to notify the Indemnifying

 

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Party shall
not relieve the Indemnifying Party of its obligations hereunder except to the extent that the Indemnifying Party is materially
prejudiced by such failure to notify. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (a) the Indemnifying Party
and the Indemnified Party shall have mutually agreed to the retention of such counsel or (b) in the reasonable judgment of such
Indemnified Party representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them, including one or more defenses or counterclaims that are different from or in addition to those available
to the Indemnifying Party. It is understood that, in connection with any proceeding or related proceedings in the same jurisdiction,
the Indemnifying Party shall not be liable for the reasonable and documented fees and expenses of more than one separate firm
of attorneys (in addition to one local counsel per jurisdiction) at any time for all such Indemnified Parties, and that all such
fees and expenses shall be reimbursed as they are incurred. In the case of any such separate firm for the Indemnified Parties,
such firm shall be designated in writing by the Indemnified Parties. The Indemnifying Party shall not be liable for any settlement
of any proceeding effected without its written consent, but if settled with such consent, or if there be a final judgment for
the plaintiff, the Indemnifying Party shall indemnify and hold harmless such Indemnified Parties from and against any loss or
liability (to the extent stated above) by reason of such settlement or judgment. Without the prior written consent of the Indemnified
Party, no Indemnifying Party shall effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement
includes an unconditional release of such Indemnified Party from all liability arising out of such proceeding.

 

Section 3.06.
Contribution. (a) If the indemnification provided for in Section 3.01 or 3.02 is unavailable to the Indemnified Parties
in respect of any Damages, then each Indemnifying Party, in lieu of indemnifying the Indemnified Parties, shall contribute to
the amount paid or payable by such Indemnified Party, in such proportion as is appropriate to reflect the relative fault of the
Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Damages
as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied
by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any
Damages shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’ or
other reasonable fees or expenses incurred by such party

 

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in connection
with any proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided
for in Sections 3.01 or 3.02 was available to such party in accordance with its terms.

 

(b)       The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 3.06 were determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred
to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 3.06, no Shareholder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the proceeds actually received by such Shareholder
from the sale of the Registrable Securities subject to the proceeding exceeds the amount of any damages that such Shareholder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, except
in the case of fraud by such Shareholder. Each Shareholder’s obligation to contribute pursuant to this Section 3.06 is several
in the proportion that the proceeds of the offering received by such Shareholder bears to the total proceeds of the offering received
by all such Shareholders and not joint. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.
The indemnity and contribution agreements contained in this Article 3 are in addition to any liability that the Indemnifying Parties
may have to the Indemnified Parties.

 

Article
4

Miscellaneous

 

Section 4.01.
Binding Effect; Assignability; Benefit. (a) This Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective heirs, successors, legal representatives and permitted assigns. Any Shareholder that ceases to own beneficially
any Registrable Securities shall cease to be bound by the terms hereof (other than (i) the provisions of ‎Article 3 applicable
to such Shareholder with respect to any offering of Registrable Securities completed before the date such Shareholder ceased to
own any Registrable Securities and (ii) this ‎Article 4).

 

(b)           
Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable
by any party hereto pursuant to any Transfer of Registrable Securities or otherwise, except that each Shareholder may assign all
or any portion of its rights hereunder to any Permitted Transferee of such Shareholder with respect to not less than 5% of the
outstanding Common Shares at the time of such transfer; provided, however, that no such minimum share assignment
requirement shall be necessary for an assignment by a Shareholder which is a (i) partnership to its partners in accordance with
their partnership interests, (ii) a limited liability company to its members in accordance

 

    16

    

    

with their
interests in the limited liability company, (iii) a corporation to its stockholders in accordance with their interests in the
corporation or (iv) to an Affiliate of such Shareholder. Any such Permitted Transferee must (unless already bound hereby) execute
and deliver to the Company an agreement to be bound by this Agreement in the form of Exhibit A hereto (a “Joinder Agreement”)
and shall thenceforth be a “Shareholder.” Any such transfer to a Permitted Transferee must be in compliance with the
Securities Act and any other applicable securities “blue sky” laws.

 

(c)           
Nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the parties hereto, and
their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities
under or by reason of this Agreement.

 

Section 4.02.
Notices. All notices, requests and other communications (each, a “Notice”) to any party shall be in
writing and shall be delivered in person, mailed by certified or registered mail, return receipt requested, or sent by facsimile
transmission or email transmission,

 

if to the
Company to:

 

InflaRx N.V.

Winzerlaer Str. 2

 

07745 Jena, Germany

Attention: Niels Riedemann, Chief Executive Officer

Email: Niels.Riedemann@inflarx.de

 

with a copy
to:

 

Davis Polk & Wardwell
LLP

450 Lexington Avenue

New York, New York 10017

Attention: Sophia Hudson

Fax: (212) 701-4762

Email: sophia.hudson@davispolk.com

 

if to any
Shareholder, at the address for such Shareholder listed on the signature pages below or otherwise provided to the Company as set
forth below.

 

Any Notice
shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt
and such day is a Business Day in the place of receipt. Otherwise, such Notice shall be deemed not to have been received until
the next succeeding Business Day in the place of receipt. Any Person that becomes a Shareholder after the date hereof shall provide
its address, fax number and email address to the Company.

 

    17

    

    

Section 4.03.
Waiver; Amendment; Termination. (a) The provisions of this Agreement, including the provisions of this sentence, may not
be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given without
the written consent of the Company and holders of a majority of the Registrable Securities; provided, however, that in no event
shall the obligations of any holder of Registrable Securities be materially increased or the rights of any Stockholder be adversely
affected (without similarly adversely affecting the rights of all Stockholders), except upon the written consent of such holder.
Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates
exclusively to the rights of holders of Registrable Securities whose securities are being sold pursuant to a Registration Statement
and that does not directly or indirectly affect the rights of other holders of Registrable Securities may be given by holders
of at least a majority of the Registrable Securities being sold by such holders pursuant to such Registration Statement.

 

(b)       This
Agreement shall terminate upon the earlier to occur of (i) the fifth anniversary of the First Public Offering and (ii) the date
on which there are no remaining Registrable Securities held by the Shareholders party hereto.

 

Section 4.04.
Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State
of New York, without regard to the conflicts of laws rules of such state.

 

Section 4.05.
Jurisdiction. The parties hereby agree that any suit, action or proceeding seeking to enforce any provision of, or based
on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in
any state or federal court in The City of New York, Borough of Manhattan, so long as one of such courts shall have subject matter
jurisdiction over such suit, action or proceeding, and that any cause of action arising out of this Agreement shall be deemed
to have arisen from a transaction of business in the State of New York, and each of the parties hereby irrevocably consents to
the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and
irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the
venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in
any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any
party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each
party agrees that service of process on such party as provided in ‎Section
4.02 shall be deemed effective service of process on such party.

 

Section 4.06.
WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR

 

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RELATED TO
THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 4.07.
Specific Enforcement. Each party hereto acknowledges that the remedies at law of the other parties for a breach or threatened
breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any
bond or furnishing other security, and in addition to all other remedies that may be available, shall be entitled to obtain equitable
relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable
remedy that may then be available.

 

Section 4.08.
Counterparts; Effectiveness. This Agreement may be executed (including by facsimile or other electronic image scan transmission)
with counterpart signature pages or in any number of counterparts, each of which shall be deemed to be an original, and all of
which shall, taken together, be considered one and the same agreement, it being understood that each party need not sign the same
counterpart. This Agreement shall become effective when each party hereto shall have executed and delivered this Agreement. Until
and unless each party has executed and delivered this Agreement, this Agreement shall have no effect and no party shall have any
right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).

 

Section 4.09.
Entire Agreement. This Agreement constitutes the entire agreement and understanding among the parties hereto with respect
to the subject matter of this Agreement and supersedes all prior and contemporaneous agreements and understandings, both oral
and written, among the parties hereto with respect to the subject matter hereof.

 

Section 4.10.
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of
this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic
or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon
such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of
the parties as closely as possible in an acceptable manner so that the transactions contemplated hereby be consummated as originally
contemplated to the fullest extent possible.

 

Section 4.11.
Confidentiality. Each Shareholder agrees that it will use, and will cause each
of its affiliates, and each of its and their respective partners, members, managers, shareholders, directors, officers, employees
and agents (collectively, “Agents”) to use, all commercially reasonable efforts to maintain the confidentiality
of all confidential information disclosed to it by the Company 

 

    19

    

    

and
identified in writing as confidential and will not, without the prior written consent of the Company, use such confidential information
other than in connection with the transactions contemplated herein. The foregoing shall not apply to confidential information
that (a) is known or becomes known to the public in general (other than as a result of a breach of this ‎Section 4.11 by such
Shareholder), (b) is or has been independently developed or conceived by the Shareholder without use of the Company’s confidential
information, or (c) is or has been made known or disclosed to the Shareholder by a third party without a breach of any obligation
of confidentiality such third party may have to the Company; provided, however, that any Shareholder may disclose confidential
information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services
in connection with monitoring its investment in the Company and for the purpose of evaluating its investment in the Company; (ii)
to any prospective purchaser of any Registrable Securities from such Shareholder, if such prospective purchaser is not a competitor
to the Company (as determined in good faith by the Company’s Board of Directors) and agrees to be bound by the provisions
of this ‎Section 4.11; (iii) to a member, partner, stockholder or wholly owned subsidiary of such Shareholder in the ordinary
course of business, provided that such Shareholder informs such Person that such information is confidential and directs such
Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law. Each Shareholder further
agrees that any notice received pursuant to this Agreement, including any notice of a proposed public offering, postponement of
an offering or other similar notice regarding the Company’s securities, is confidential information and that any trading
in securities of the Company following receipt of such information may only be done in compliance with all applicable securities
laws. Notwithstanding anything to the contrary contained in this Section 4.11, any Shareholder or any Shareholder’s partner,
member, investment manager, subsidiary or parent may identify only the Company and the value of such Shareholder’s security
holdings in the Company (and not, for the avoidance of doubt, other confidential information with respect to the Company’s
business) without prior notice to or consent from the Company and such Shareholder shall otherwise comply with the confidentiality
obligations set forth in this Section 4.11.

 

Section 4.12.
Independent Nature of Shareholders' Obligations and Rights. The obligations of each Shareholder hereunder are several and
not joint with the obligations of any other Shareholder hereunder, and no Shareholder shall be responsible in any way for the
performance of the obligations of any other Shareholder hereunder. Nothing contained herein or in any other agreement or document
delivered at any closing, and no action taken by any Shareholder pursuant hereto or thereto, shall be deemed to constitute the
Shareholders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Shareholders
are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Shareholder
shall be entitled to protect and enforce its rights, including the rights

 

    20

    

    

arising out
of this Agreement, and it shall not be necessary for any other Shareholder to be joined as an additional party in any proceeding
for such purpose.

 

[Signature
pages follow.]

 

 

 

 

 

 

 

    21

    

    

IN WITNESS
WHEREOF, the parties hereto have duly executed this Agreement or have caused this Agreement to be duly executed by their respective
authorized officers as of the day and year first above written.

 

	 	INFLARX N.V.	 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

[Signature
page to the Registration Rights Agreement]

 

    1

    

    

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

AND

 

 

 

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	Address
                           for Notices: 

Address:

	 	 
	 	Fax
        number:

Email
address:

 

 

 

    2

    

    

 

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 		 
	 	 	Title:	 

 

 

	 	Address
                           for Notices: 

Address:

	 	 
	 	Fax
        number:

Email
address:

 

 

    3

    

    

 

 

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

	 	Address
                           for Notices: 

Address:

	 	 
	 	Fax
        number:

Email
address:

 

 

    4

    

    

 

 

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

	 	Address
                           for Notices: 

Address:

	 	 
	 	Fax
        number:

Email
address:

 

 

    5

    

    

 

	 		 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	Address
                           for Notices: 

Address:

	 	 
	 	Fax
        number:

Email
address:

 

 

    6

    

    

EXHIBIT
A

 

JOINDER
TO REGISTRATION RIGHTS AGREEMENT

 

This Joinder
Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining
Party”) in accordance with the Registration Rights Agreement dated as of November [●], 2017 (as the same may be
amended from time to time, the “Registration Rights Agreement”), by and among InflaRx N.V. and the shareholders
party thereto listed on the signature pages, as well as any Permitted Transferees. Capitalized terms used, but not defined, herein
shall have the meaning ascribed to such terms in the Registration Rights Agreement.

 

The Joining
Party hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed
to be a party to the Registration Rights Agreement as of the date hereof as a Permitted Transferee of a Shareholder thereto, and
shall have all of the rights and obligations of a “Shareholder” thereunder as if it had executed the Registration
Rights Agreement. The Joining Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions
and conditions contained in the Registration Rights Agreement.

 

IN WITNESS
WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below.

 

Date: ___________ ___, ______

 

 

    	 

         

         

          

 

	 	[NAME OF JOINING PARTY]	 
	 	 	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

 

 

	 	

Address
for Notices:

[Address]

[Fax
number] 

[Email address]

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