Document:

Exhibit 10.9

 

FORM OF

INDEMNIFICATION AGREEMENT

 

This Indemnification Agreement is dated
as of                , 202 (this “Agreement”) and is between Certara, Inc., a Delaware corporation (the “Company”),
and [name of director/officer] (“Indemnitee”).

 

Background

 

The Company believes that in order to attract
and retain highly competent persons to serve as directors or in other capacities, including as officers, it must provide such persons
with adequate protection through indemnification against the risks of claims and actions against them arising out of their services
to and activities on behalf of the Company.

 

The Company desires and has requested Indemnitee
to serve, or to continue to serve, as a director or officer of the Company and, in order to induce Indemnitee to serve, or to continue
to serve, as a director or officer of the Company, the Company is willing to grant Indemnitee the indemnification provided for
herein. Indemnitee is willing to so serve, or to continue to serve, on the basis that such indemnification be provided.

 

The parties by this Agreement desire to
set forth their agreement regarding indemnification and the advancement of expenses.

 

In consideration of Indemnitee’s service
to the Company and the covenants and agreements set forth below, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Section
1.               Indemnification.
To the fullest extent permitted by the General Corporation Law of the State of Delaware (the “DGCL”):

 

(a)            The Company shall indemnify Indemnitee if Indemnitee was or is a party to, is threatened to be made a party to, or
is otherwise involved in, as a witness or otherwise, any threatened, pending or completed action, suit or proceeding (brought in
the right of the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal,
including any and all appeals, by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer
of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request
of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner
or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee
benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted by Indemnitee in any such capacity.

 

(b)            Subject
to Section 6, the indemnification provided by this Section 1 shall be from and against all loss and liability
suffered and expenses (including attorneys’ fees, costs and expenses), judgments, fines and amounts paid in settlement
actually and reasonably incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding, including
any appeals (collectively, “Losses”).

 

     

     

    

 

Section
2.               Advancement of Expenses.
To the fullest extent permitted by the DGCL, but subject to the terms of this Agreement and following notice pursuant to Section
3(a) below, expenses (including attorneys’ fees, costs and expenses) incurred by Indemnitee in appearing at, participating
in or defending, or otherwise arising out of or related to, any action, suit or proceeding described in Section 1(a) shall
be paid by the Company in advance of the final disposition of such action, suit or proceeding, or in connection with any action,
suit or proceeding brought to establish or enforce a right to indemnification or advancement of expenses pursuant to Section
3 (an “advancement of expenses”), within 20 days after receipt by the Company of a statement or statements
from Indemnitee requesting such advancement of expenses from time to time. Indemnitee hereby undertakes to repay any amounts so
advanced (without interest) to the extent that it is ultimately determined by final judicial decision from which there is no further
right to appeal (a “final adjudication”) that such Indemnitee is not entitled to be indemnified or entitled
to advancement of expenses under this Agreement. No other form of undertaking shall be required of Indemnitee other than the execution
of this Agreement. This Section 2 shall be subject to Section 3(b) and shall not apply to any claim made by Indemnitee
for which indemnity is excluded pursuant to Section 6.

 

Section
3.               Procedure for Indemnification;
Notification and Defense of Claim.

 

(a)            Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee
shall, if any indemnification, advancement or other claim in respect thereof is to be sought from or made against the Company hereunder,
notify the Company in writing of the commencement thereof. The failure to promptly notify the Company of the commencement of any
action, suit or proceeding, or of Indemnitee’s request for indemnification, advancement or other claims shall not relieve
the Company from any liability that it may have to Indemnitee hereunder and shall not constitute a waiver or release by Indemnitee
of any rights hereunder or otherwise, except to the extent the Company is actually and materially prejudiced in its defense of
such action, suit or proceeding as a result of such failure. To submit a request for indemnification under Section 1, Indemnitee
shall submit to the Company a written request therefor; provided that any request for such indemnification may not be made
until after a final adjudication of such action, suit or proceeding. Any notice by Indemnitee under this Section 3 should
include such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to enable the Company
to determine whether and to what extent Indemnitee is entitled to indemnification.

 

(b)            With
respect to any action, suit or proceeding of which the Company is so notified as provided in this Agreement, the Company
shall, subject to the last two sentences of this Section 3(b), be entitled to assume the defense of such action, suit
or proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its
election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by
the Company, the Company will not be liable to Indemnitee under this Agreement for any subsequently incurred fees of separate
counsel engaged by Indemnitee with respect to the same action, suit or proceeding unless the employment of separate counsel
by Indemnitee has been previously authorized in writing by the Company, which authorization will not be unreasonably
withheld, conditioned or delayed. Notwithstanding the foregoing, if Indemnitee, based on the advice of his or her counsel,
shall have reasonably concluded (with written notice being given to the Company setting forth the basis for such conclusion)
that, in the conduct of any such defense, there is an actual or potential conflict of interest or position (other than such
potential conflicts that are objectively immaterial or remote) between the Company and Indemnitee with respect to a
significant issue, then the Company will not be entitled, without the written consent of Indemnitee, to assume such defense.
In addition, the Company will not be entitled, without the written consent of Indemnitee, to assume the defense of any claim
brought by or in the right of the Company.

 

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(c)            The determination whether to grant Indemnitee’s indemnification request shall be made promptly and in any event
within 30 days following the Company’s receipt of a request for indemnification in accordance with Section 3(a). If
the determination of whether to grant Indemnitee’s indemnification request shall not have been made within such 30-day
period, the requisite determination of entitlement to indemnification shall, subject to Section 6, nonetheless, to the fullest
extent permitted by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) an
intentional misstatement by Indemnitee of a material fact, or an intentional omission of a material fact necessary to make Indemnitee’s
statement not misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under the DGCL; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an
additional 30 days, if the person or entity making the determination with respect to entitlement to indemnification in good faith
requires such additional time for the obtaining or evaluating of documentation or information relating thereto.

 

(d)            In the event that (i) the Company determines in accordance with this Section 3 that Indemnitee is not
entitled to indemnification under this Agreement, (ii) the Company denies a request for indemnification, in whole or in part,
or fails to respond or make a determination of entitlement to indemnification within 30 days following receipt of a request for
indemnification as described above, (iii) payment of indemnification is not made within such 30-day period (as it may
be extended), (iv) advancement of expenses is not timely made in accordance with Section 2 or (v) the Company
or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation
or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided
to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication in any court of competent jurisdiction of his or her entitlement
to such indemnification or advancement of expenses, as applicable. Indemnitee’s expenses (including attorneys’ fees,
costs and expenses) incurred in connection with successfully establishing Indemnitee’s right to indemnification or advancement
of expenses, in whole or in part, in any such proceeding or otherwise shall also be indemnified by the Company to the fullest extent
permitted by the DGCL.

 

(e)            Indemnitee
shall, to the fullest extent permitted by law, be presumed to be entitled to indemnification and advancement of expenses
under this Agreement upon submission of a request therefor in accordance with Section 2 or Section 3, as the
case may be. The Company shall have the burden of proof in overcoming such presumption, and such presumption shall be used as
a basis for a determination of entitlement to indemnification and advancement of expenses unless, to the fullest permitted by
law, the Company overcomes such presumption by clear and convincing evidence. For purposes of this Agreement, to the fullest
extent permitted by the DGCL, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on
the records or books of account of the Company, including financial statements, or on information supplied to Indemnitee by
the officers, employees or committees of the Board of Directors of the Company (the “Board of
Directors”), or on the advice of legal counsel or other advisors (including financial advisors and accountants)
for the Company or on information or records given in reports made to the Company by an independent certified public
accountant or by an appraiser or other expert or advisor selected by the Company, and the knowledge and/or actions, or
failure to act, of any director, officer, agent or employee of the Company or relevant enterprises will not be imputed to
Indemnitee in a manner that limits or otherwise adversely affects Indemnitee’s rights hereunder.

 

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Section
4.               Insurance and Subrogation.

 

(a)            The Company hereby covenants
and agrees that, so long as Indemnitee shall be subject to any possible action, suit or proceeding by reason of the fact that Indemnitee
is or was or has agreed to serve as a director or officer of the Company, or while serving as a director or officer of the Company,
is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes
hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise, the Company, subject to Section 4(b), shall
promptly obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O
Insurance”) in reasonable amounts from established and reputable insurers, as more fully described below.

 

(b)            Notwithstanding any other provisions of this Agreement to the contrary, the Company shall have no obligation to obtain
or maintain D&O Insurance if the Company determines in good faith that: (i) such insurance is not reasonably available; (ii)
the premium costs for such insurance are disproportionate to the amount of coverage provided; (iii) the coverage provided by such
insurance is limited by exclusions so as to provide an insufficient benefit; (iv) the Company is to be acquired and a tail policy
of reasonable terms and duration is purchased for pre-closing acts or omissions by Indemnitee; or (v) the Company is to be
acquired and D&O Insurance, with substantially the same terms and conditions as the D&O Insurance in place prior to such
acquisition, will be maintained by the acquirer that covers pre-closing acts and omissions by Indemnitee.

 

(c)            In
all policies of D&O Insurance, Indemnitee shall qualify as an insured in such a manner as to provide Indemnitee the same
rights and benefits as are accorded to the most favorably insured (i) of the Company’s independent directors (as
defined by the insurer) if Indemnitee is such an independent director; (ii) of the Company’s non-independent
directors if Indemnitee is not an independent director; or (iii) of the Company’s officers if Indemnitee is an officer
of the Company. If the Company has D&O Insurance in effect at the time the Company receives from Indemnitee any notice of
the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement of such action,
suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a
result of such proceeding in accordance with the terms of such policy.

 

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(d)            Subject to Section 15, in the event of any payment by the Company under this Agreement, the Company shall
be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy
or any other indemnity agreement covering Indemnitee. Indemnitee shall execute all papers required and take all reasonable action
necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to
enforce such rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually
and reasonably incurred by Indemnitee in connection with such subrogation.

 

(e)            Subject to Section 15, the Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder (including, without limitation, judgments, fines and amounts paid in settlement) if and to the
extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy, contract, agreement
or otherwise.

 

Section
5.               Certain Definitions.
For purposes of this Agreement, the following definitions shall apply:

 

(a)            The term “action, suit or proceeding” shall be broadly construed and shall include, without
limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony
in, any threatened, pending or completed claim, counterclaim, cross claim, action, suit, arbitration, alternative dispute mechanism
or proceeding, whether civil, criminal, administrative or investigative.

 

(b)            The term “by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer
of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request
of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner
or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee
benefit plan or other enterprise” shall be broadly construed and shall include, without limitation, any actual or
alleged act or omission to act.

 

(c)            The
term “expenses” shall be broadly construed and shall include, without limitation, all direct and
indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees, costs and expenses
and related disbursements, appeal bonds, other out-of-pocket costs, retainers, court costs, transcript costs, fees of
experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone
charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the
actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties and reasonable compensation
for time spent by Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party), actually
and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of an action, suit or
proceeding or establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in connection
with a claim that is indemnifiable hereunder.

 

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(d)            The term “judgments, fines and amounts paid in settlement” shall be broadly construed and
shall include, without limitation, all direct and indirect payments of any type or nature whatsoever, as well as any penalties
or excise taxes assessed on a person with respect to an employee benefit plan.

 

Section
6.               Limitation on Indemnification.
Notwithstanding any provision of this Agreement to the contrary, the Company shall not be obligated pursuant to this Agreement:

 

(a)            Proceedings Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to an action,
suit or proceeding (or part thereof) initiated voluntarily by Indemnitee, except with respect to any compulsory counterclaim brought
by Indemnitee, unless (i) such indemnification is expressly required to be made by law, (ii) such action, suit or proceeding
(or part thereof) was authorized or consented to by the Board of Directors, (iii) such indemnification is provided by the
Company, in its sole discretion, pursuant to the powers vested in the Company under the DGCL or (iv) such action, suit or
proceeding is brought to establish or enforce a right to indemnification or advancement of expenses under this Agreement, the Company’s
certificate of incorporation, the Company’s bylaws or any other statute or law or otherwise as required under Section 145
of the DGCL in advance of a final determination.

 

(b)            Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by Indemnitee with respect to any action,
suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement or to enforce a right to indemnification or
advancement of expenses pursuant to the Company’s certificate of incorporation, the Company’s bylaws or any other statute
or law, if a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such action,
suit or proceeding was not made in good faith or was frivolous.

 

(c)            Section 16(b) and Clawback Matters. To indemnify Indemnitee for (i) an accounting of profits made from
the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of
the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of state
statutory law or common law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based
compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case
under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to
Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the
Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley
Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback
policy adopted by the Board of Directors or the compensation committee of the Board of Directors, including but not limited to
any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act.

 

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(d)            Prohibited
by Law. To indemnify or advance expenses to Indemnitee in any circumstance where such indemnification has been determined
to be prohibited by law by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative
body of competent jurisdiction as to which there is no further right or option of appeal or the time within which an appeal must
be filed has expired without such filing.

 

Section
7.               Change in Control.

 

(a)            The Company agrees that if there is a change in control of the Company, then with respect to all matters thereafter
arising concerning the rights of Indemnitee to indemnification and advancement of expenses under this Agreement, any other agreement
or the Company’s certificate of incorporation or bylaws now or hereafter in effect, the Company shall seek legal advice only
from independent counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld,
delayed or conditioned). In addition, upon written request by Indemnitee for indemnification pursuant to Section 1 or Section
3(a), a determination, if required by the DGCL, with respect to Indemnitee’s entitlement thereto shall be made by such
independent counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee. The Company
agrees to pay the reasonable fees of the independent counsel referred to above and to indemnify fully such counsel against any
and all expenses (including attorneys’ fees, costs and expenses), claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto.

 

(b)            For purposes of this Section 7, the following definitions shall apply:

 

(i)                 A
 “change in control” shall be deemed to occur upon the earliest to occur after the date of this
Agreement of any of the following: (A) any person or group, within the meaning of Section 13(d)(3) of the Exchange
Act (other than the EQT Stockholders (as defined in the Stockholders Agreement, dated as of [●], 2020 (as such
agreement may be amended from time to time)), among the Company and the other parties thereto or their respective
affiliates), obtains ownership, directly or indirectly, of (x) more than 50% of the total voting power of the
outstanding capital stock of the Company or applicable successor entity (including any securities convertible into, or
exercisable or exchangeable for such capital stock) or (y) all or substantially all of the assets of the Company and its
Subsidiaries on a consolidated basis; (B) during any period of two consecutive years (not including any period
prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board of Directors,
and any new director (other than a director designated by a person who has entered into an agreement with the Company to
effect a transaction described in Sections 7(b)(i)(A), 7(b)(i)(C) or 7(b)(i)(D) or a director whose
initial nomination for, or assumption of office as, a member of the Board of Directors occurs as a result of an actual or
threatened solicitation of proxies or consents for election or removal of one or more directors by any person or group other
than a solicitation for the election of one or more directors by or on behalf of the Board of Directors) whose election by
the Board of the Directors or nomination for election by the Company’s stockholders was approved by a vote of at least
two-thirds of the directors then still in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the
members of the Board of Directors; (C) the effective date of a merger or consolidation of the Company with any other
entity, other than a merger or consolidation that would result in the voting securities of the Company outstanding
immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) at least 50% of the combined voting power of the voting securities
of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a
majority of the board of directors or other governing body of such surviving entity; and (D) the approval by the
stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all of the Company’s assets. For purposes of this Section 7(b)(i) only,
 “person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however,
that “person” shall exclude (a) the Company, (b) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company and (c) any corporation owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of stock of the Company.

 

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(ii)              
The term “independent counsel” means a law firm, or a member of
a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained
to represent: (A) the Company or Indemnitee in any matter material to either such party or (B) any other party to the
action, suit or proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “independent
counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would
have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights
under this Agreement.

 

(iii)            
The term “Subsidiary” means, with respect to the Company (or an
applicable successor entity), any corporation, partnership, limited liability company, association or other business entity of
which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors or other governing persons or bodies thereof is at the time owned or controlled,
directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination thereof, or (ii)
if a partnership, limited liability company, trust, association or other business entity, a majority of the partnership, limited
liability company or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by the
Company or one or more of the other Subsidiaries of the Company or a combination thereof. For purposes hereof, the Company or its
applicable Subsidiary shall be deemed to have a majority ownership interest in a partnership, limited liability company, association
or other business entity if the Company or such applicable Subsidiary shall be allocated a majority of partnership, limited liability
company, association or other business entity gains or losses or shall be or control the managing director, managing member, manager
or general partner of such partnership, limited liability company, association or other business entity.

 

Section
8.               Certain Settlement Provisions.
The Company shall have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action,
suit or proceeding without the Company’s prior written consent. The Company shall not, without Indemnitee’s prior written
consent, settle any action, suit or proceeding in any manner that would attribute to Indemnitee any admission of liability or that
would impose any fine or other obligation or restriction on Indemnitee. Neither the Company nor Indemnitee will unreasonably withhold,
condition or delay his, her or its consent to any proposed settlement.

 

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Section 9.              
Savings Clause. If any provision or provisions (or
portion thereof) of this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the Company
shall nevertheless indemnify Indemnitee if Indemnitee was or is a party to, is threatened to be made a party to, or is otherwise
involved in, as a witness or otherwise, any threatened, pending or completed action, suit or proceeding (brought in the right
of the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including
any and all appeals, by reason of the fact that Indemnitee is or was or has agreed to serve as a director or officer of the Company,
or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company
as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager
or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan
or other enterprise, or by reason of any action alleged to have been taken or omitted by Indemnitee in any such capacity, from
and against all Losses suffered by, or incurred by or on behalf of, Indemnitee in connection with such action, suit or proceeding,
including any appeals, to the fullest extent permitted by any applicable portion of this Agreement that shall not have been invalidated.

 

Section
10.             Contribution. In order to provide for
just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent
jurisdiction to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest
extent permitted by law, contribute to the payment of all Losses suffered by, or incurred by or on behalf of, Indemnitee in connection
with any action, suit or proceeding, including any appeals, in an amount that is just and equitable in the circumstances in order
to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving
cause to such actions, suit or proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees
and agents) and Indemnitee in connection with such event(s) and/or transaction(s); provided that, without limiting the generality
of the foregoing, such contribution shall not be required where such holding by the court is due to any limitation on indemnification
set forth in Section 4(e), Section 6 or Section 8.

 

Section
11.             Form and Delivery of Communications.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given if (a) delivered by hand, upon receipt by the party to whom said notice or other communication shall have been
directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which
it is so mailed, (c) mailed by reputable overnight courier, one day after deposit with such courier and with written verification
of receipt, or (d) sent by email or facsimile transmission, with receipt of oral confirmation that such transmission has been
received. Notice to the Company shall be directed to [_____], email: [_____@certara.com], facsimile: [(___)-___-____],
confirmation number: [(___)-___-____]. Notice to Indemnitee shall be directed to [_____], email: [_____@_____.com], facsimile:
[(___)-___-____], confirmation number: [(___)-___-____].

 

Section
12.           Nonexclusivity. The provisions for
indemnification to or the advancement of expenses and costs to Indemnitee under this Agreement shall not limit or restrict in
any way the power of the Company to indemnify or advance expenses to Indemnitee in any other way permitted by law or be
deemed exclusive of, or invalidate, any right to which any indemnitee seeking indemnification or advancement of expenses may
be entitled under any law, the Company’s certificate of incorporation or bylaws, other agreements or arrangements, vote
of stockholders or disinterested directors or otherwise, both as to action in Indemnitee’s capacity as an officer,
director, employee or agent of the Company and as to action in any other capacity. Indemnitee’s rights hereunder shall
inure to the benefit of the heirs, executors and administrators of Indemnitee.

 

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Section
13.             Defenses. In (i) any action, suit
or proceeding brought by Indemnitee to enforce a right to indemnification hereunder (but not in an action, suit or proceeding brought
by Indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and (ii) any action, suit or proceeding
brought by the Company to recover an advancement of expenses pursuant to the terms of an undertaking by Indemnitee pursuant to
Section 2, the Company shall be entitled to recover such expenses upon a final adjudication that, Indemnitee has not met
any applicable standard for indemnification set forth in the DGCL. Neither the failure of the Company (including its directors
who are not parties to such action, a committee of such directors, independent legal counsel or the Company’s stockholders)
to have made a determination prior to the commencement of such suit that indemnification of Indemnitee is proper in the circumstances
because Indemnitee has met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Company
(including its directors who are not parties to such action, a committee of such directors, independent legal counsel or the Company’s
stockholders) that Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has not
met the applicable standard of conduct or, in the case of such a suit brought by Indemnitee, be a defense to such suit.

 

Section
14.             No Construction as Employment Agreement.
Nothing contained herein shall be construed as giving Indemnitee any right to be retained as a director or officer of the Company
or in the employ of the Company or any other entity. For the avoidance of doubt, the indemnification and advancement of expenses
provided under this Agreement shall continue as to Indemnitee even though he or she may have ceased to be a director, officer,
employee or agent of the Company.

 

Section
15.             Jointly Indemnifiable Claims.

 

(a)            Given
that certain jointly indemnifiable claims may arise due to the service of Indemnitee as a director and/or officer of the
Company at the request of Indemnitee-related entities (as defined below), the Company acknowledges and agrees that the
Company shall be fully and primarily responsible for payments to Indemnitee in respect of indemnification or advancement of
expenses in connection with any such jointly indemnifiable claims pursuant to and in accordance with the terms of this
Agreement, irrespective of any right of recovery Indemnitee may have from Indemnitee-related entities. Under no
circumstance shall the Company be entitled to any right of subrogation or contribution by Indemnitee-related entities,
and no right of advancement or recovery Indemnitee may have from Indemnitee-related entities shall reduce or otherwise
alter the rights of Indemnitee or the obligations of the Company hereunder. In the event that any of Indemnitee-related
entities shall make any payment to Indemnitee in respect of indemnification or advancement of expenses with respect to any
jointly indemnifiable claim, Indemnitee-related entity making such payment shall be subrogated to the extent of such
payment to all of the rights of recovery of Indemnitee against the Company, and Indemnitee shall execute all papers
reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution
of such documents as may be necessary to enable Indemnitee-related entities effectively to bring suit to enforce such
rights. The Company and Indemnitee agree that each of Indemnitee-related entities shall be third-party beneficiaries
with respect to this Section 15(a) and entitled to enforce this Section 15(a) as though each such
Indemnitee-related entity were a party to this Agreement.

 

    10

     

    

 

(b)            For purposes of this Section 15, the following terms shall have the following meanings:

 

(i)                
The term “Indemnitee-related entities” means any corporation,
limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the Company
or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise
Indemnitee has agreed, on behalf of the Company or at the Company’s request, to serve as a director, officer, employee or
agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification
or advancement of expenses with respect to which, in whole or in part, the Company may also have an indemnification or advancement
obligation (other than as a result of obligations under an insurance policy). 

 

(ii)              
The term “jointly indemnifiable claims” shall be broadly construed
and shall include, without limitation, any action, suit or proceeding for which Indemnitee shall be entitled to indemnification
or advancement of expenses from both the Company and any Indemnitee-related entity pursuant to the DGCL, any agreement or the
certificate of incorporation, bylaws, partnership agreement, operating agreement, certificate of formation, certificate of limited
partnership or comparable organizational documents of the Company or Indemnitee-related entities, as applicable.

 

Section
16.             Interpretation of Agreement. It is understood
that the parties hereto intend this Agreement to be interpreted and enforced so as to provide, in each instance, indemnification
and advancement of expenses to Indemnitee to the fullest extent permitted by the DGCL, as the same exists or may hereafter be amended
(but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification
rights than the DGCL permitted the Company to provide prior to such amendment). Whenever the words “include”, “includes”
or “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.

 

Section
17.            Entire Agreement. This Agreement and the
documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered
hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered
hereby are expressly superseded by this Agreement.

 

    11

     

    

 

Section
18.             Modification and Waiver.
No supplement, modification, waiver or amendment of this Agreement shall be binding unless executed in writing by the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. For the avoidance of doubt,
(a) this Agreement may not be modified or terminated by the Company without Indemnitee’s prior written consent;
(b) no amendment, alteration or interpretation of the Company’s certification of incorporation or bylaws or any
other agreement or arrangement shall limit or otherwise adversely affect the rights provided to Indemnitee under this
Agreement and (c) a right to indemnification or to advancement of expenses arising under a provision of the
Company’s certification of incorporation or bylaws or this Agreement shall not be eliminated or impaired by an
amendment to such provision after the occurrence of the act or omission that is the subject of the action, suit or proceeding
for which indemnification or advancement of expenses is sought.

 

Section
19.             Successor and Assigns. All of the terms
and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto
and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company shall require
and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all
of the business or assets of the Company, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly
to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform
if no such succession had taken place.

 

Section
20.             Service of Process and Venue. The Company
hereby irrevocably and unconditionally (a) agrees that any action or proceeding arising out of or in connection with this
Agreement shall be brought in the Chancery Court of the State of Delaware (the “Delaware Court”),
(b) consents to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising
out of or in connection with this Agreement, (c) appoints, to the extent the Company is not otherwise subject to service of
process in the State of Delaware, Corporation Service Company, as its agent in the State of Delaware for acceptance of legal process
in connection with any such action or proceeding against such party with the same legal force and validity as if served upon the
Company personally within the State of Delaware, (d) waives any objection to the laying of venue of any such action or proceeding
in the Delaware Court and (e) waives, and agrees not to plead or to make, any claim that any such action or proceeding brought
in the Delaware Court has been brought in an improper or inconvenient forum.

 

Section
21.             Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware. If, notwithstanding the foregoing, a court of competent
jurisdiction shall make a final determination that the provisions of the law of any state other than Delaware govern indemnification
by the Company of Indemnitee, then the indemnification provided under this Agreement shall in all instances be enforceable to the
fullest extent permitted under such law, notwithstanding any provision of this Agreement to the contrary.

 

Section
22.             Counterparts. This Agreement may be executed
in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one
and the same instrument, notwithstanding that both parties are not signatories to the original or same counterpart.

    12

     

    

 

Section 23.          
Headings and Section References. The section and
subsection headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Section references are to this Agreement unless otherwise specified.

 

[Signature Page Follows]

 

    13

     

    

 

This Indemnification Agreement has been
duly executed and delivered to be effective as of the date first written above.

 

	 	CERTARA, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	INDEMNITEE:
	 	 
	 	 
	 	Name:

 

[Signature Page to Indemnification Agreement]Exhibit 10.13

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT, dated as of September 2,
2016 (the “Effective Date”), between Certara Australia Pty Ltd. (the “Company”), and Craig
Rayner (the “Executive”).

 

WHEREAS the shareholder of the Company, D3
MEDICINE LLC (“D3 Medicine”), has entered into the Membership Interest Purchase Agreement, dated as of September 2,
2016 (the “Purchase Agreement”) among Certara USA, Inc. and the Sellers listed on Exhibit A to the
Purchase Agreement; and

 

WHEREAS, contingent on the Closing (as defined
in the Purchase Agreement), the Company has offered the Executive employment on the terms of this Agreement:

 

1.            Employment
Duties and Acceptance.

 

1.1            Employment
by the Company. Subject to Closing and effective as of September 2, 2016 (“Start Date”), the Company
shall employ the Executive to render exclusive and full-time services in the capacity of President of the Company, or such other
role or capacity as the Company may reasonable consider appropriate on the terms and conditions of this Agreement.

 

1.2            Duties
and Responsibilities. The Executive shall have duties and responsibilities consistent with his position, subject to the oversight
and direction by the Chief Executive Officer and the board of directors of the Company or its direct or indirect parent entity,
or their respective designee (each, the “Board”). The Executive shall devote all of the Executive’s working
time and efforts to the business and affairs of the Company. Executive shall not, without the prior approval of the Board, whether
for compensation or otherwise, directly or indirectly, alone or as a member or an employee of any partnership or other organization,
be actively engaged in or concerned with, any other business duties or personal pursuits which interfere with the performance of
the Executive’s responsibilities under this Agreement. The terms set out in this Agreement will continue to govern the Executive’s
employment with the Company despite any changes from time to time to the Executive’s position, duties and responsibilities,
Salary, working hours or place of employment unless otherwise agreed in writing.

 

1.3            Acceptance
of Employment by the Executive. The Executive accepts such employment and shall render the services described above. Subject
to appointment by the Board as such, the Executive may also serve as an officer of any other entity controlled by, or under common
control with, the Company, and as a director of the Company and of any other entity controlled by or under common control with
the Company, in each case without any compensation therefor other than that specified in this Agreement. Upon request, or upon
termination of employment with Company hereunder for any reason, the Executive shall, upon request, resign as a director or officer
of the Company and of any other entity controlled by, or under common control with, the Company.

    	 	 	 

     

    

 

1.4            Place
of Employment. The Executive’s principal place of employment shall be Melbourne, Australia (the “Employment
Location”). The Executive will undertake travel both within and outside Australia as may be necessary for the proper
performance of the Executive’s duties. The Executive will not be entitled to additional compensation for such travel, but
travel expenses for approved travel will be paid for by the Company in accordance with the Company’s policy.

 

2.            Term
of Employment. The stated term of employment under this Agreement (the “Term”) shall commence
on the Start Date and shall continue until Executive ceases to be employed by the Company for any reason.

 

3.            Compensation.

 

3.1            Salary.
As compensation for all services to be rendered pursuant to this Agreement, the Company shall pay the Executive during the Term
initially a total compensation package of US $250,000.00 per annum, payable not less frequently than monthly, less such taxes and
deductions as shall be required to be withheld by applicable laws and regulations (the “Salary”). The Executive’s
Salary is comprised of base salary and superannuation contributions in accordance with Section 3.2. The Executive’s
Salary is inclusive of all entitlements the Executive may have under an award, industrial instrument or at law. As this Agreement
undertakes to provide the Executive with a guarantee of the Executive’s Salary over the period of the Executive’s employment,
and the Executive’s guaranteed Salary exceeds the high income threshold under applicable laws, no industrial award (including
any modern award) will apply to the Executive during the Executive’s employment with the Company. The Board may, in its sole
discretion, determine to provide additional benefits or incentives to the Executive from time to time. Executive’s Salary
shall be reviewed once per year. A review does not necessarily mean an increase in Salary. Whether or not the Executive’s
Salary is increased after any such review is in the sole discretion of the Company. Any Salary increase is neither indicative or
determinative of the Executive’s right to a Salary increase in any subsequent year.

 

3.2            Superannuation
Contributions. As part of the Salary referred to in Section 3.1, the Company will contribute the minimum amount required
to avoid any charge under applicable superannuation laws, to a complying superannuation fund nominated by the Executive in writing.
If the Executive does not nominate such a fund, the Company will make contributions into the Employer’s default complying
superannuation fund.

 

3.3            Incentive
Bonus. In addition to his Salary, Executive shall be eligible to be considered for an annual discretionary incentive bonus
in an amount up to 30% of Executive’s year to date base salary for the relevant year (the “Incentive Bonus”).
Executive shall maintain the same eligibility to receive an Incentive Bonus, for a period of two (2) years after Closing,
as the Executive did prior to Closing. In addition, following such two (2) year period, the Company will evaluate adjusting
the Incentive Bonus but shall not materially reduce the bonus opportunity for the Executive. The applicable criteria for receiving
an Incentive Bonus payment shall be established by the Board and communicated to Executive annually at its sole discretion. Any
earned Incentive Bonus will be paid at such time that bonuses are generally paid and as determined by the Board. Any Incentive
Bonus payment will be inclusive of superannuation contributions required to be paid with respect to that Incentive Bonus for the
Company to avoid a charge under applicable superannuation laws. Subject to the Executive’s rights to maintain eligibility
to an Incentive Bonus as set out above, the Company may amend, replace or terminate this discretionary incentive bonus plan at
any time in its sole discretion. Without prejudice to such sole discretion of the Company and to the specific rules of such
discretionary incentive bonus plan as may from time to time be operated by the Company, the following general principles shall
apply to the payment of any Incentive Bonus by the Company to the Executive:

 

(a)            the
level of Incentive Bonus paid (if any) by the Company to the Executive in any given year shall be neither indicative nor determinative
of the Executive’s right to a bonus, or the level of any bonus payable, in any subsequent year;

 

    	 	 	 

     

    

 

(b)            no
payment or part payment of any Incentive Bonus, whether calculated on a pro rata basis or on any other basis, shall be paid to
the Executive if, as at the relevant payment date, the Executive has ceased to be an employee of the Company or is serving notice
of termination of employment regardless of the reasons for such termination and the Executive will not be entitled to receive any
compensation in lieu thereof; and

 

(c)            Incentive
Bonuses shall not form part of the Executive’s normal compensation package and, therefore, will not be taken into account
with respect to calculating any payment in lieu of notice, termination payment, or redundancy or severance pay, if any. Incentive
Bonuses shall also not form part of the Executive’s compensation for the purposes of any Company or Group benefit plan.

 

3.4            Expenses.
Subject to policies applicable to executives of the Company generally, as may from time to time be established by the Board, the
Company shall pay or reimburse the Executive for reasonable travel, entertainment and other business expenses actually incurred
or paid by the Executive during the Term in the performance of the Executive’s services under this Agreement, and which expenses
are consistent with the Company’s policies in effect from time to time with respect to such travel, entertainment and other
business expenses, upon presentation of expense statements or vouchers or such other supporting information as the Company may
require.

 

3.5            Annual
Leave. The Executive shall be entitled to paid annual leave in accordance with Company policy as in place from time to time
and applicable laws. Executive understands that it is the Company’s intention to provide an unlimited annual leave policy,
provided, however, the Company reserves the right to modify its annual leave policy at any time in its discretion. On taking annual
leave, you will be deemed to take your accrued statutory entitlement to annual leave prior to any discretionary annual leave entitlement
under the Company’s leave policy. On cessation of employment, you will be paid out any accrued but untaken annual leave in
accordance with your entitlements under the the Fair Work Act 2009 (Cth) (“FW Act”). Only statutory minimum
leave entitlements will accrue and accumulate under the FW Act, any discretionary leave entitlement provided under the Company’s
policy will be forfeited if not used by the employee at the end of the calendar year.

 

    	 	- 3 -	 

     

    

 

3.6            Personal/Carer’s
Leave. The Executive shall be entitled to accrue 10 days’ personal/carer’s leave per year of service in accordance
with applicable laws. The Executive will, where practicable, ensure that the Executive notifies the Company of any proposed absence
due to personal illness or injury or carer’s responsibilities and the expected date of the Executive’s return to work.
The Company requires the Executive to produce a medical certificate for any sick leave in excess of one day and a statutory declaration
for any carer’s leave taken. Personal/carer’s leave (including sick leave) will accrue from year to year in accordance
with applicable laws but will not be paid out on cessation of the Executive’s employment.

 

3.7            Other
leave entitlements. The Executive is entitled to other forms of leave including long service leave, compassionate leave, community
service leave and parental leave in accordance with applicable law.

 

4.            Suspension
and Termination.

 

4.1            Suspension.
The Company has the right to suspend the Executive from duties, with pay, where the Company considers it necessary to adequately
investigate allegations of misconduct or impropriety against or involving the Executive.

 

4.2            Termination
with Notice. The Executive’s employment may be terminated by either party by giving six month’s written notice
to the other party, or in the case of the Company, the Company may elect at its sole discretion to pay the Executive a payment
in lieu of all or part of the notice period. For the avoidance of doubt, the payment in lieu of notice will be calculated on the
Executive’s Salary only.

 

4.3            Termination
upon Death. If the Executive dies while employed by the Company, this Agreement shall automatically terminate and the Executive
or the Executive’s estate shall be entitled only to receive the Accrued Obligations payable through the date of such death.

 

4.4            Termination
upon Permanent Illness or Injury. If the Executive becomes ill (whether physically or mentally) or injured while employed by
the Company (whether totally or partially) so that the Executive is unable substantially to perform the inherent requirements of
the Executive’s role hereunder with or without reasonable accommodation as determined, in good faith, by the Board following
consultation with medical advisors selected by the Board for (a) a period of more than three consecutive months, or (b) for
shorter periods aggregating three months during any 12 month period (in each of clauses (a) and (b), such time periods shall
exclude any period that the Executive is on paid personal/carer’s leave), the Company may, except as prohibited by law, by
written notice to the Executive, terminate the Executive’s employment with immediate effect. In the event of termination
of the Executive’s employment by the Company pursuant to this Section 4.4, the Executive shall be entitled only to receive
the Accrued Obligations payable through the date of termination.

 

    	 	- 4 -	 

     

    

 

4.5            Termination
without Notice. Notwithstanding any of the other provisions of this Agreement, the Company may at any time terminate the Executive’s
employment without notice and without any obligation to make a payment in lieu of notice if the Executive commits any misconduct
that would justify summary dismissal including, but not limited to, any of the following:

 

(a)            the
Executive commits any act of dishonesty, fraud or falsification of documentation;

 

(b)            the
Executive commits a serious or persistent breach of any of the provisions of this Agreement;

 

(c)            the
Executive neglects or fails (otherwise than by reason of accident or ill health), or refuses to carry out the duties required of
the Executive or refuses or fails to comply with any lawful directions given to the Executive;

 

(d)            the
Executive is in material breach of a Company or Group policy;

 

(e)            the
Executive being intoxicated or under the influence of non- prescription drugs at work;

 

(f)            commits
a material failure to properly protect the assets of the Company or the Group;

 

(g)            the
Executive is charged with a criminal offence which is likely to affect adversely the Company’s or any Company Group’s
reputation;

 

(h)            the
Executive acts in a manner (whether in the course of the Executive’s duties or otherwise) which does or, in the reasonable
opinion of the Company, is likely to bring the Executive or the Company or any Company Group into serious disrepute;

 

(i)             the
Executive commits any act of bankruptcy or compounds with creditors; or

 

(j)             the
Executive is precluded by the Corporations Act from taking part in the management of a corporation, or is disqualified from holding
office as a director of any company by virtue of any legislation.

 

For purposes of this Section 4 and this
Agreement:

 

“Accrued Obligations” means
as of the date of Executive’s termination, (a) Executive’s earned but unpaid Salary, if any, through such date,
(b) payment of all accrued but untaken annual leave and long service leave (if any) up to and including the date of cessation
of employment, (c) any unreimbursed business expenses payable to Executive pursuant to applicable Company policy and (d) any
Incentive Bonus awarded by the Board but not previously paid to the Executive with respect to the fiscal year preceding the fiscal
year in which such date of termination occurs.

 

“Corporations Act” means
the Corporations Act 2001 (Cth), as amended from time to time.

 

“Group” means the
Company and each of its related bodies corporate (as defined in the Corporations Act) for the time being and
 “Company Group” means any one of them. For the avoidance of doubt and for purposes of this Agreement,
Arsenal Capital Partners (“Arsenal”) is not considered an affiliate of any of the Company Group, nor is
any other company considered an affiliate of any of the Company Group solely by virtue that it is an affiliate of
Arsenal.

 

    	 	- 5 -	 

     

    

 

4.6            Set-off.
Subject to applicable law, the Company may withhold and retain any amounts which might otherwise be owed to the Executive to offset
any amounts of debt owed by the Executive to the Company or any Company Group or any money advanced to the Executive.

 

5.            Confidentiality, Intellectual
Property and Restraints.

 

5.1            Nondisclosure
and Nonuse of Confidential Information. The Executive will not disclose or use at any time during or after the Term any Confidential
Information (as defined below) of which the Executive is or becomes aware, whether or not such information is developed by the
Executive, except to the extent that such disclosure or use is directly related to and required by the Executive’s performance
of duties assigned to the Executive pursuant to this Agreement or is required by law. Under all circumstances and at all times,
the Executive will use the Executive’s best endeavours and take all appropriate steps to safeguard Confidential Information
in the Executive’s possession, custody or control and to protect it against disclosure, misuse, espionage, loss and theft.
For purposes hereof, “Confidential Information” means information that is not generally known to the public
and that was or is used, developed or obtained by the Company or a Company Group in connection with their business and business
affairs, and includes, but is not limited to, any information of a commercial, operational, technical or financial type and specifically
all information relating to any process, training program, formula or product, corporate opportunities, research, financial and
sales data, pricing and trading terms, evaluations, opinions, interpretations, human resources and remuneration strategies and
plans, acquisition prospects, the identity of customers or their requirements, the identify of key client contacts, clients lists,
sales and marketing and merchandising techniques, products, prospective names and any trade secret. It shall not include information
(a) required to be disclosed by court or administrative order, (b) lawfully obtainable from other sources or which is
in the public domain through no fault of the Executive, or (c) the disclosure of which is consented to in writing by the Company.
The Executive agrees that the Executive’s obligations under this Section 5.1 will survive the cessation of the Executive’s
employment and will be enforceable at any time at law or in equity and will continue to the benefit of and be enforceable by the
Company.

 

5.2            Ownership
of Intellectual Property. In the event that the Executive as part of Executive’s activities on behalf of the Company
Group generates, authors or contributes to any invention, design, new development, device, product, method of process (whether
or not patentable or reduced to practice or comprising Confidential Information), any copyrightable work (whether or not comprising
Confidential Information) or any other form of Confidential Information relating directly or indirectly to the business of the
Company Group as now or hereinafter conducted (collectively, “Intellectual Property”), the Executive acknowledges
that such Intellectual Property is the sole and exclusive property of the Company and hereby assigns all right title and interest
in and to such Intellectual Property to the Company. The Executive will promptly and fully disclose all Intellectual Property and
will cooperate with the Company to protect the Company’ interests in and rights to such Intellectual Property (including
providing reasonable assistance in securing patent protection and copyright registrations and executing all documents as reasonably
requested by the Company, whether such requests occur prior to or after the cessation of Executive’s employment hereunder
for any reason). The Executive irrevocably consents to all or any acts or omissions by the Company, which may infringe the Executive’s
Moral Rights in any of the Works and Inventions and agrees to take no action or proceedings against the Company for such breach.
The Executive agrees that the Executive’s obligations under this Section 5.2 will survive the cessation of the Executive’s
employment and will be enforceable at any time at law or in equity and will continue to the benefit of and be enforceable by the
Company.

 

    	 	- 6 -	 

     

    

 

For purposes of this Section 5.2 and
this Agreement:

 

“Inventions” means any
invention, discovery, idea, development, process, plan, design, formula, specification, program including computer software and
any other matter or work whatsoever including any and all improvements or modifications made to any Work or other matter or work
which the Executive may conceive, create or develop (whether alone or not and whether before or after this Agreement is signed),
regardless of whether or not conceived, created or generated at the direction of the Company, within the scope of the Executive’s
employment or was created during or outside of work hours.

 

“Moral Rights” means the
right of attribution of authorship, the right not to have authorship falsely attributed and the right of integrity of authorship,
as defined in the Copyright Act 1968 (Cth).

 

“Works” means any work,
manual, process, article, presentations, figures, notes, diagrams and any other materials whatsoever (and in each case whether
electronic or in any other material form), which the Executive may conceive, create or develop (whether alone or not and whether
before or after this Agreement is signed), regardless of whether or not conceived, created or generated at the direction of the
Company, is within the scope of the Executive’s employment, or was created during or outside of work hours.

 

5.3            Delivery
of Materials upon Termination of Employment. As requested by the Company, from time to time and upon the cessation of the Executive’s
employment with the Company for any reason, the Executive will promptly deliver to the Company all copies and embodiments, in whatever
form or medium, of all Confidential Information or Intellectual Property in the Executive’s possession, custody or control
(including written records, notes, photographs, manuals, notebooks, documentation, program listings, flow charts, magnetic media,
disks, diskettes, tapes and all other materials containing any Confidential Information or Intellectual Property) irrespective
of the location or form of such material and, if requested by the Company, will provide the Company with written confirmation that
all such materials have been delivered to the Company.

 

    	 	- 7 -	 

     

    

 

5.4            Restrictive
Covenants. The Executive acknowledges that during the Executive’s employment with the Company, the Executive will become
familiar with trade secrets and other Confidential Information concerning the Company and other Company Group, and obtain personal
knowledge of and/or influence over customers, suppliers, distributors, licensees, directors, officers, employees, contractors and
agents of the Company and other Company Group. The Executive further acknowledges that the Executive’s services are of special,
unique and extraordinary value to the Company and the Group. Therefore, to protect these interests and in consideration of the
Executive’s ongoing employment with the Company and the Salary paid from time to time, the Executive agrees to be bound by
the restrictive covenants contained in Sections 5.5 and 5.6 of this Agreement. It shall not be considered a violation of Sections
5.5 and 5.6 for the Executive to be a passive owner of not more than 5% of the outstanding stock of any class of a corporation
which is publicly traded, so long as the Executive has no active participation in the business of such corporation.

 

5.5            Restraints
during Employment. During the Executive’s employment with the Company, the Executive must not, without the prior written
consent of the Company, on the Executive’s own account or for or on behalf of any person or entity:

 

(a)            act
in any Capacity for or on behalf of any other corporation, firm, organisation or person, including pharmaceutical or research organizations,
or provide services of the same or similar kind to those ordinarily provided by the Company or any other Company Group to their
customers for any such corporation, firm, organisation or person;

 

(b)            solicit
or entice away, or endeavour to solicit or entice away from the Company or a Company Group any director, officer, employee, contractor
or agent of the Company or a Company Group known personally to the Executive and who is, or is likely to be, in possession of any
Confidential Information of the Company or a Company Group, or discourage any person who, to the Executive’s knowledge, is
a prospective director, officer, employee, contractor or agent of the Company or a Company Group from being employed or engaged
by the Company or a Company Group;

 

(c)            solicit
or entice away, or endeavour to solicit or entice away from the Company or a Company Group any customer, supplier, distributor
or licensee of or to the Company or a Company Group, or discourage any person who, to the Executive’s knowledge, is a prospective
customer, supplier, distributor or licensee of the Company or a Company Group from becoming a customer, supplier, distributor or
licensee of the Company or a Company Group; or

 

(d)            interfere
or seek to interfere, directly or indirectly, with the relationship between the Company or a Company Group and its customers, suppliers,
distributors, licensees, directors, officers, employees, contractors or agents in the conduct of its business.

 

5.6            Restraint
after Employment. The Executive must not, without the prior written consent of the Company:

 

		(a)	on the Executive’s own account or for or on behalf of any person or entity:

 

(i)            participate
in, promote, carry on, assist or otherwise be directly or indirectly concerned with or involved in any Capacity in any Prohibited
Business;

 

    	 	- 8 -	 

     

    

 

(ii)           solicit
or endeavour to solicit or approach any Key Employee with the purpose of enticing that person away from the Company or Company
Group and procuring the employment or engagement of that Key Employee by any Prohibited Business;

 

(iii)          solicit,
canvass, approach or accept any approach from any person or entity who was during the Relevant Period a customer, supplier, distributor
or licensee of or to the Company or a Company Group, with whom the Executive had dealings during the Relevant Period, with a view
to establishing a relationship with or obtaining the custom of that person or entity with or for a Prohibited Business; or

 

(iv)          interfere
or seek to interfere, directly or indirectly, with the relationship between the Company or a Company Group and its customers, suppliers,
distributors, licensees, directors, officers, employees, contractors or agents in the conduct of its business;

 

		(b)	at any time after cessation of the Executive’s employment with the Company for any reason for a period of:

 

		(i)	12 months, or if that is considered unreasonable by a court of competent jurisdiction;

 

		(ii)	nine months, or if that is considered unreasonable by a court of competent jurisdiction;

 

		(iii)	six months; and

 

		(c)	anywhere:

 

		(i)	worldwide, or if that is considered unreasonable by a court of competent jurisdiction;

 

		(ii)	within those countries in which any Company Group operates or operated in during the Relevant Period, or if that is considered
unreasonable by a court of competent jurisdiction;

 

		(iii)	within Australia and United States, or if that is considered unreasonable by a court of competent jurisdiction;

 

		(iv)	within Australia, or if that is considered unreasonable by a court of competent jurisdiction;

 

		(v)	within Victoria.

 

For purposes of Sections 5.5 and 5.6 and this
Agreement:

 

“Capacity” means being
(a) in partnership or association with anybody else, (b) an agent, representative, director, officer or employee of anybody
else, (c) a member, shareholder or holder of any other security in or from anybody else, or (d) a trustee of, or consultant,
contractor or adviser to, anybody else.

 

    	 	- 9 -	 

     

    

 

“Key Employee” means any
director, officer, employee, contractor or agent of the Company or a Company Group known personally to the Executive during the
Relevant Period and who (a) is employed or engaged in a senior management, or other senior role and/or (b) is, or is
likely to be, in possession of any Confidential Information of the Company or a Company Group and/or (c) the Executive managed,
had material dealings or otherwise worked closely with during the Relevant Period.

 

“Prohibited Business” means
a business (or part of a business), including pharmaceutical or research organizations, that competes with a business (or part
of a business) of the Company or any Company Group, as such business exist or are in the process of being planned, during the Relevant
Period.

 

“Relevant Period” means
the period commencing 12 months prior to the date of cessation of the Executive’s employment with the Company for any reason.

 

5.7            Enforcement
of the Restraints after Employment. Section 5.6 must be construed and have effect as if it were the number of separate
sub-clauses which results from combining the commencement of Section 5.6 with each sub-clause of clause (a) and combining
each combination with each sub-clause of (b) and combining each combination with each sub-clause of clause (c), each resulting
sub-clause being severable from each other resulting sub-clause. If any of the resulting sub-clauses are invalid or unenforceable
for any reason, that invalidity or unenforceability will not prejudice or in any way affect the validity or enforceability of any
other resulting sub-clause.

 

5.8            Equitable
Relief. The Executive acknowledges that the restrictive covenants contained in Sections 5.5 and 5.6 are reasonable and necessary
to protect the legitimate interests of each Company Group and that each and every one of the restraints is reasonable in respect
to subject matter, length of time and geographic area, and that these restraints, individually or in the aggregate, will not prevent
the Executive from obtaining other suitable employment during the period in which the Executive is bound by the restraints. The
Executive acknowledges that each of these covenants has a unique, very substantial and immeasurable value to the Company and the
Group, and that the Executive has sufficient assets and skills to provide a livelihood while such covenants remain in force. The
Executive further covenants that the Executive will not challenge the reasonableness or enforceability of any of the covenants
set forth in this Section 5. The Executive acknowledges that any violation of this Section 5 will result in irreparable
injury to the Company Group and agrees that the Company shall be entitled to interlocutory and permanent injunctive relief, as
well as an equitable accounting of all earnings, profits and other benefits arising from any violation of this Section 5 by
the Executive, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled.
The Executive represents and acknowledges that (a) substantial and valuable consideration has been received for each restraint
by the Executive, including the Executive’s Salary, (b) the Executive has been advised by the Company to consult the
Executive’s own legal counsel in respect of this Agreement, and (c) the Executive has had full opportunity, prior to
execution of this Agreement, to review thoroughly this Agreement with the Executive’s counsel.

 

    	 	- 10 -	 

     

    

 

6.            Other
Provisions.

 

6.1            Privacy.
The Executive consents to the Company collecting, using, disclosing to third parties and transferring overseas to other Group Companies
the Executive’s Personal Information and Sensitive Information (each as defined in the Privacy Act 1988 (Cth)) for
the purpose of the Executive’s employment and for purposes related to that employment.

 

6.2            Surveillance.
From the Start Date, on an ongoing basis, the Executive’s computer use, including the Executive’s internet and email
use will be subject to continuous monitoring through the use of software, in accordance with Company policy. From the Start Date,
on an ongoing basis, the Executive may be subject to camera surveillance through visible cameras while the Executive is on the
Company’s premises.

 

6.3            Notices.
Any notice or other communication required or which may be given hereunder shall be in writing and shall be delivered personally,
telecopied (with a confirming copy by overnight delivery service or first class mail), sent by overnight delivery service with
delivery signature required, or sent with return receipt requested by certified, registered, or express mail, postage prepaid to
the parties at the following addresses or at such other addresses as shall be specified by the parties by like notice, and shall
be deemed given when so delivered personally, telecopied or if mailed, two days after the date of mailing, as follows:

 

if to the Company, at:

 

Certara Australia Pty Ltd.

Attn: Leigh Farrell

381 Royal Parade

Monash Institute of Pharmaceutical Sciences

Parkville, VIC 3052

 

With a copy to:

 

Attn: Alan Lefkowitz

C/O Certara

100 Overlook Center #101

Princeton, NJ 08540

 

if to the Executive, at:

 

Craig Rayner
 [
                           
]
 [
                           
]

 

    	 	- 11 -	 

     

    

 

6.4            Entire
Agreement. This Agreement (including the documents referred to herein) constitutes the entire agreement among the parties and
supersedes and nullifies any prior understandings, agreements or representations by or among the parties, written or oral, that
may have related in any way to the subject matter hereof.

 

6.5            Waivers
and Amendments. This Agreement may be amended, modified, superseded, cancelled, renewed or extended, and the terms and conditions
hereof may be waived, only by a written instrument signed by the parties making specific reference to this Agreement, or, in the
case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege
hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any right, power or privilege hereunder,
nor any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, power or privilege hereunder.

 

6.6            Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with and subject to, the laws of the State
of Victoria. The parties submit to the non-exclusive jurisdiction of Victoria courts and courts of appeal from them. The parties
will not object to the exercise of jurisdiction by those courts on any basis.

 

6.7            Acknowledgments.
The Executive acknowledges that the Executive has read this entire Agreement, has had the opportunity to consult with an attorney,
and fully understands the terms of this Agreement. The Executive is satisfied with the terms of this Agreement and agrees that
its terms are binding upon the Executive and the Executive’s heirs, assigns, executors, administrators, and legal representatives.
The Executive further acknowledges and agrees that the Company holds the benefits of this Agreement insofar as they relate to a
Company Group, on trust for that Company Group and that the Company may enforce this Agreement on behalf of a Company Group. Further,
any Company Group may enforce this Agreement in respect of those provisions of this Agreement insofar as it relates to any of them.

 

6.8            Assignment.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, heirs and
permitted assigns. No rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive.
No rights or obligations of the Company under this Agreement may be assigned or transferred by the Company except that such rights
or obligations may be assigned or transferred pursuant to a merger or consolidation or amalgamation or scheme of arrangement in
which the Company is not the continuing entity, or the sale or liquidation of all or substantially all of the assets of the Company,
provided that the assignee or transferee is the successor to all or substantially all of the assets of the Company and such
assignee or transferee assumes by operation of law or in a writing duly executed by the assignee or transferee all of the liabilities,
obligations and duties of the Company, as contained in this Agreement, either contractually or as a matter of law, as if no such
assignment or transfer had taken place.

 

6.9            Counterparts.
This Agreement may be executed in two or more counterparts (which may be effectively delivered by facsimile or other electronic
means), each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

 

    	 	- 12 -	 

     

    

 

6.10           Headings.
The headings in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of
this Agreement

 

6.11           Severability.
If any term, provision, covenant or restriction of this Agreement, or any part thereof, is held by a court of competent jurisdiction
of any foreign, federal, state, county or local government or any other governmental, regulatory or administrative agency or authority
to be invalid, void, unenforceable or against public policy for any reason, 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.

 

signature page follows

 

    	 	- 13 -	 

     

    

 

IN WITNESS WHEREOF, the patties have executed
this Agreement the date first above written.

 

	 	Certara
    Australia Pty Ltd.
	 	 
	 	/s/
    Edmundo Muniz
	 	Signature
    of authorized representative
	 	 
	 	Edmundo
    Muniz
	 	Name
    of authorized representative
	 	 
	 	Chief
    Executive Officer
	 	Title
    of authorized representative
	 	 
	 	/s/
    Maryann Graziano 
	 	Signature
    of witness
	 	 
	 	Maryann
    Graziano
	 	Name
    of witness
	 	 
	 	Executive:
	 	 
	 	/s/
    Craig Rayner
	 	Craig
    Rayner

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