Document:

Independent Director Compensation Policy
The compensation and benefits for service as a member of the Board of Directors is determined by our Board of Directors. Directors employed by us or one of our subsidiaries are not compensated for service on the Board or on any committee of the Board; however, we reimburse each of our directors for any out-of-pocket expenses in connection with attending meetings of our Board of Directors and committees of the Board of Directors. Each of our non-employee directors, are entitled to a fee of $30,000 per year for his or her service as a director. Members of the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee each receive an additional $7,500, $5,000 and $2,500, respectively, per year for his or her service on such committee. The chairpersons of the Board, the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee each receive an additional $25,000, $22,000, $10,000, and $7,500, respectively, per year for his or her service as chairperson for such committee.
In addition, on the date of each annual stockholders meeting, each non-employee member of the Board of Directors will be granted $167,600 of restricted stock units based on the closing stock price on the grant date and our Chairman of the Board (provided such Chairman has served as non-employee member of the Board of Directors and Chairman for at least six months before the date of the stockholder meeting) will be granted an additional $25,000 of restricted stock units based on the closing price on the grant date. 
These restricted stock units will vest in full at the following annual stockholders meeting, subject to the director’s continuing service on our Board of Directors. Each newly elected Director who first becomes a non-employee director on a date other than an annual stockholders meeting will be granted a number of restricted stock units equal to the product of (i) the amount obtained by dividing (A) $167,600 by (B) the fair market value of a share of the Company’s Common Stock on the grant date, multiplied by (ii) the amount obtained by dividing (x) 12 minus the number of full months that have elapsed from the immediately preceding annual meeting of stockholders of the Company to the initial grant date, by (y) 12 (the "Pro Rata Grant"). Subject to the director's continued service with the Company, each Pro Rata Grant award will vest in full on the date of the Company's annual stockholders meeting immediately following the initial grant date.
These restricted stock units will also immediately vest in full upon a change in control of the Company. The restricted stock units are to be granted under our 2016 Equity Incentive Plan.EX-4.5

 Exhibit 4.5 
  

 
 Exhibit 4.5 
NUMBER 
001 
ROIVANT SCIENCES 
INCORPORATED UNDER THE LAWS OF BERMUDA 
AUTHORIZED: 7,000,000,000 COMMON SHARES OF US

$0.000000007 PAR VALUE PER SHARE 
SHARES 
CUSIP 123456 78 9 
SEE REVERSE FOR 
CERTAIN DEFINITIONS 
This Certifies That 
SPECIMEN 
is the owner of 
Fully Paid and Non-Assessable Common Stock, $0.000000007 Par Value of 
ROIVANT SCIENCES LTD. 
transferable on the books of this Corporation in person or by attorney
upon surrender of this Certificate duly endorsed or assigned. This Certificate and the shares represented hereby are subject to the laws of Bermuda, and to the Articles of Incorporation and the Bylaws of the Corporation, as now or hereafter amended.
This Certificate is not valid until countersigned by the Transfer Agent. 
IN WITNESS WHEREOF, the Corporation has caused this Certificate to be signed by the
facsimile signatures of its duly authorized officers and to be sealed with the facsimile seal of the Corporation. 
Dated: 
MATTHEW GLINE CHIEF EXECUTIVE OFFICER 
RAKHI KUMAR    CHIEF ACCOUNTING
OFFICER 
Countersigned: 
AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

6201 15th Avenue 
Brooklyn, NY 11219 
By Transfer Agent and Registrar Authorized Officer 

 

 
 ROIVANT SCIENCES LTD. 
AMERICAN STOCK
TRANSFER & TRUST COMPANY, LLC 
TRANSFER FEE: AS REQUIRED 
The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
TEN COM - as tenants in common 
TEN ENT - as tenants by the entireties 
JT TEN - as joint tenants with right of survivorship and not as tenants in common 
UNIF GIFT
MIN ACT - Custodian 
(Cust)     (Minor) 
under Uniform
Gifts to Minors 
Act    (State) 
Additional abbreviations
may also be used though not in the above list. 
PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
FOR VALUE RECEIVED, hereby sell, assign and transfer unto 
PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
Shares of the Common Stock represented by the within Certificate and do hereby irrevocably constitute and appoint

Attorney to transfer the said stock on the books of the within-named Corporation, with full power of substitution in the premises. 
Dated:    20    , 
Signature(s) Guaranteed: 
Signature: X 
Signature: X 
THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY
CHANGE WHATEVER. THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO
S.E.C. RULE 17Ad-15.EX-4.6

 Exhibit 4.6 

Form of Warrant Certificate 

[FACE] 
 Number 

Warrants 
 THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO 
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR 

IN THE WARRANT AGREEMENT DESCRIBED BELOW 

ROIVANT SCIENCES LTD. 

Incorporated Under the Laws of Bermuda 

CUSIP 
 Warrant
Certificate 
 This Warrant Certificate certifies that
                     , or registered assigns, is the registered holder of warrant(s) evidenced hereby (the “Warrants” and
each, a “Warrant”) to purchase common shares, $0.000000007 par value (the “Roivant Common Share”), of Roivant Sciences Ltd., a Bermuda exempted limited company (the “Company”). Each Warrant entitles
the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable Roivant Common Shares as set forth
below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement) of the United
States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms
used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 
 Each whole
Warrant is initially exercisable for one fully paid and non-assessable Roivant Common Share. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would
be entitled to receive a fractional interest in a Roivant Common Share, the Company will, upon exercise, round down to the nearest whole number the number of Roivant Common Shares to be issued to the Warrant holder. The number of Roivant Common
Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 

The initial Exercise Price per one Roivant Common Share for any Warrant is equal to $11.50 per share. The Exercise Price is subject to
adjustment upon the occurrence of certain events as set forth in the Warrant Agreement. 
 Subject to the conditions set forth in the
Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void. The Warrants may be redeemed, subject to certain conditions, as set
forth in the Warrant Agreement. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse
hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Warrant
Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 
 This Warrant
Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof. 

  
 1 

 
			
	ROIVANT SCIENCES LTD.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC,
	
	as Warrant Agent

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  
 2 

 [Form of Warrant Certificate] 

[Reverse] 
 The Warrants
evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive Roivant Common Shares and are issued or to be issued pursuant to a Warrant Agreement, dated as of ________, 2020 (the
“Warrant Agreement”), duly executed and delivered by the Company to American Stock Transfer & Trust Company, LLC, a New York limited liability trust company, as warrant agent (the “Warrant Agent”), which
Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the
Company and the holders (the words “holders” or “holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon
written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement. 

Warrants may be exercised at any time during the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this
Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of Election to Purchase set forth hereon properly completed and executed, together with payment of the Exercise Price as specified in the Warrant Agreement
(or through “cashless exercise” as provided for in the Warrant Agreement) at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants
exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. 

Notwithstanding anything else in this Warrant Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise
(i) a registration statement covering the issuance of the Roivant Common Share to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating to the Roivant Common Share is current, except
through “cashless exercise” as provided for in the Warrant Agreement. 
 The Warrant Agreement provides that upon the
occurrence of certain events the number of Roivant Common Shares issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be
entitled to receive a fractional interest in a Roivant Common Share, the Company shall, upon exercise, round down to the nearest whole number of Roivant Common Shares to be issued to the holder of the Warrant. 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person
or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or
Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of
transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for
this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

The Company and the Warrant Agent may deem and treat the Registered Holder(s) hereof as the absolute owner(s) of this Warrant Certificate
(notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall
be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a shareholder of the Company. 

  
 3 

 Election to Purchase 

(To Be Executed Upon Exercise of Warrant) 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive Roivant Common Shares and
herewith tenders payment for such Roivant Common Shares to the order of Roivant Sciences Ltd. (the “Company”) in the amount of
$                     in accordance with the terms hereof. The undersigned requests that a certificate for such Roivant Common Shares be registered
in the name of                , whose address is and that such Roivant Common Shares be delivered to whose address is
                    . If said number of Roivant Common Shares is less than all of the Roivant Common Share purchasable hereunder, the undersigned
requests that a new Warrant Certificate representing the remaining balance of such Roivant Common Shares be registered in the name of , whose address is and that such Warrant Certificate be delivered
to                , whose address is                     . 

In the event that the Warrant has been called for redemption by the Company pursuant to Section 6.2 of the Warrant
Agreement and a holder thereof elects to exercise its Warrant pursuant to a Make-Whole Exercise, the number of Roivant Common Shares that this Warrant is exercisable for shall be determined in accordance with subsection 3.3.1(c) or
Section 6.2 of the Warrant Agreement, as applicable. 
 In the event that the Warrant is a Private Placement
Warrant that is to be exercised on a “cashless” basis pursuant to subsection 3.3.1(c) of the Warrant Agreement, the number of shares of Class A common stock that this Warrant is exercisable for shall be determined in accordance
with subsection 3.3.1(c) of the Warrant Agreement. 
 In the event that the Warrant is to be exercised on a “cashless”
basis pursuant to Section 7.4 of the Warrant Agreement, the number of Roivant Common Shares that this Warrant is exercisable for shall be determined in accordance with Section 7.4 of the Warrant
Agreement. 
 In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise
(i) the number of Roivant Common Shares that this Warrant is exercisable for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall
complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Roivant Common Shares. If said number of
shares is less than all of the Roivant Common Share purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Roivant Common Shares be
registered in the name of         , whose address is and that such Warrant Certificate be delivered to , whose address is         . 

[Signature Page Follows] 

  
 4 

 Date:             , 20 

 

	
	(Signature)
	
	(Address)
	  

	(Tax Identification Number)

 Signature Guaranteed: 
  

 
 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED). 

  
 5

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